Tag: eCommerce Solutions

BusinessRiskTV eCommerce Solutions

Ecommerce has revolutionised the way businesses operate, and it has become a vital component of any modern business strategy. In today’s digital age, online sales channels have become the norm, and businesses are increasingly relying on ecommerce solutions to drive sales and increase revenue.

With the rise of ecommerce, businesses are presented with a range of options for online sales channels, including online marketplaces, social media, and their own branded online stores. However, with so many options available, it can be challenging for businesses to determine which ecommerce solution is best suited to their specific needs.

In this article, we will explore some of the key ecommerce solutions available to businesses today and how they can benefit from them.

Online Marketplaces

Online marketplaces have become an increasingly popular ecommerce solution for businesses. Marketplaces such as Amazon, eBay, and Alibaba provide businesses with access to a vast customer base, offering an easy way to reach a global audience.

One of the primary benefits of online marketplaces is that they allow businesses to tap into an existing customer base, reducing the need for expensive marketing campaigns. Additionally, marketplaces provide businesses with a range of tools and features to help them manage their online presence, including product listing tools, order management tools, and customer service tools.

Online marketplaces are also ideal for businesses that are new to ecommerce, as they provide an easy way to get started. With a few clicks, businesses can set up an account and start selling their products to millions of customers around the world.

However, there are also some downsides to selling on online marketplaces. For one, businesses must pay fees for each transaction made on the platform, which can eat into profit margins. Additionally, businesses have limited control over their online presence, with marketplaces often dictating how products are listed, displayed, and marketed.

Social Media

Social media platforms such as Facebook, Instagram, and Pinterest are increasingly being used as ecommerce solutions by businesses. These platforms provide businesses with an easy way to connect with customers and sell products directly through their social media profiles.

One of the primary benefits of using social media as an ecommerce solution is that it allows businesses to leverage their existing social media following to drive sales. Additionally, social media platforms provide businesses with a range of tools and features to help them manage their online presence, including product listing tools, order management tools, and customer service tools.

Social media is also an excellent option for businesses that are looking to target a specific audience. With targeted advertising options, businesses can reach customers based on factors such as age, gender, location, and interests, making it easier to connect with potential customers.

However, there are also some downsides to using social media as an ecommerce solution. For one, businesses must pay fees for each transaction made on the platform, which can eat into profit margins. Additionally, social media platforms are constantly changing their algorithms, making it difficult for businesses to stay ahead of the curve.

Branded Online Stores

Branded online stores are an increasingly popular ecommerce solution for businesses. Online stores provide businesses with complete control over their online presence, allowing them to create a unique brand identity and provide a personalized customer experience.

One of the primary benefits of using a branded online store is that it allows businesses to build a direct relationship with their customers. By owning their online sales channel, businesses can control every aspect of the customer experience, from product listings to shipping and returns.

Online stores also provide businesses with complete control over their pricing, allowing them to set their own margins and pricing strategies. Additionally, online stores provide businesses with a range of tools and features to help them manage their online presence, including product listing tools, order management tools, and customer service tools.

However, there are also some downsides to using a branded online store as an ecommerce solution. For one, businesses must invest time and resources in building and maintaining their online store, which can be expensive and time-consuming. Additionally, online stores require ongoing marketing efforts to drive traffic and sales, which can also be costly.

Choosing the Right Ecommerce Solution

Choosing the right ecommerce solution for your business depends on a range of factors, including your industry, target audience, and budget. To determine the best ecommerce solution for your business, consider the following:

Your Target Audience: Consider who your target audience is and where they are most likely to shop online. If your audience is primarily on social media, using social media as an ecommerce solution may be the best option. If your audience is more likely to shop on online marketplaces or your own online store, consider these options instead.

Your Budget: Consider the costs associated with each ecommerce solution, including transaction fees, marketing costs, and ongoing maintenance costs. Determine which solution is most cost-effective for your business and aligns with your budget.

Your Business Goals: Consider your business goals and what you hope to achieve through ecommerce. Are you looking to reach a global audience? Do you want to build a direct relationship with your customers? Consider which ecommerce solution aligns with your business goals.

Your Brand Identity: Consider your brand identity and how you want to present your business online. If you want complete control over your online presence and a unique brand identity, using a branded online store may be the best option. If you want to tap into an existing customer base and reach a wider audience, online marketplaces may be the better option.

Ecommerce solutions have revolutionised the way businesses operate, providing a range of options for online sales channels. Online marketplaces, social media, and branded online stores all offer unique benefits and drawbacks, and choosing the right solution for your business depends on a range of factors.

To determine the best ecommerce solution for your business, consider your target audience, budget, business goals, and brand identity. With the right ecommerce solution, businesses can drive sales, increase revenue, and reach a global audience in today’s digital age.

Fixing Common Business Problems

Overcome common hurdles to business success

Fixing A Business With BusinessRiskTV

Fixing Common Business Problems

Fixing a business can be a daunting task, but it is not impossible. A business can face various challenges, from declining sales to poor employee morale, and if these issues are not addressed in a timely manner, they can lead to the failure of the business.

However, before we dive into the process of fixing a business, it’s essential to understand what exactly needs to be fixed. Here are some of the common problems that businesses face:

Declining Sales: This is one of the most common problems that businesses face. If sales are declining, it means that the company is not generating enough revenue to sustain its operations. This could be due to various reasons, including increased competition, changes in consumer preferences, or economic downturns.

Poor Employee Morale: Employee morale plays a crucial role in the success of a business. If employees are not motivated or engaged, it can lead to decreased productivity, increased absenteeism, and high turnover rates. This could be due to poor management, inadequate training, or a toxic work environment.

Inefficient Processes: If a business is using outdated or inefficient processes, it can lead to increased costs and decreased productivity. This could be due to lack of automation, poor communication, or inadequate training.

Cash Flow Problems: Cash flow is the lifeblood of any business. If a business is facing cash flow problems, it means that it’s not generating enough revenue to cover its expenses. This could be due to slow-paying customers, excessive debt, or poor financial management.

Lack of Innovation: Innovation is essential for the long-term success of any business. If a business is not innovating, it can lead to stagnation and decreased competitiveness. This could be due to a lack of investment in research and development, or a failure to keep up with changing market trends.

Once you have identified the problem, the next step is to develop a plan to fix it. Here are some steps that businesses can take to address these common problems:

Conduct a SWOT Analysis: A SWOT analysis is a useful tool for identifying the strengths, weaknesses, opportunities, and threats of a business. By conducting a SWOT analysis, businesses can identify their areas of strength and weakness and develop a plan to address them.

Set Goals and Objectives: Once the weaknesses have been identified, it’s essential to set specific goals and objectives for addressing them. These goals should be specific, measurable, attainable, relevant, and time-bound (SMART).

Develop an Action Plan: An action plan is a detailed plan that outlines the steps that need to be taken to achieve the goals and objectives. The action plan should include timelines, responsibilities, and resources needed to achieve the goals.

Invest in Training and Development: In many cases, poor employee morale and inefficient processes can be attributed to a lack of training and development. By investing in training and development, businesses can improve employee skills and productivity.

Review and Improve Financial Management: Cash flow problems are often the result of poor financial management. Businesses can address this by reviewing their financial management processes and implementing improvements such as better invoicing practices or more frequent financial reporting.

Embrace Innovation: Innovation is essential for the long-term success of any business. By embracing innovation, businesses can stay ahead of the competition and meet the changing needs of their customers.

Seek Professional Help: In some cases, businesses may need to seek professional help to address their problems. This could include hiring a consultant or seeking advice from industry experts.

While these steps are not exhaustive, they provide a useful framework for fixing a business. Let’s look at some specific examples of how these steps can be applied to common business problems:

Example 1: Fixing Declining Sales

Conduct a SWOT analysis to identify the factors contributing to declining sales. This could include increased competition, changes in consumer preferences, or economic downturns.

Set specific goals and objectives for addressing the factors identified in the SWOT analysis. For example, if increased competition is identified as a factor, a goal could be to increase market share by a certain percentage.

Develop an action plan that outlines the steps needed to achieve the goals and objectives. This could include increasing marketing and advertising efforts, improving product quality, or expanding into new markets.

Invest in training and development for sales staff to improve their skills and productivity.

Review and improve financial management practices to ensure that revenue is being generated and expenses are being controlled.

Embrace innovation by introducing new products or services that meet the changing needs of customers.

Seek professional help if necessary, such as hiring a consultant or seeking advice from industry experts.

Example 2: Fixing Poor Employee Morale

Conduct a SWOT analysis to identify the factors contributing to poor employee morale. This could include poor management, inadequate training, or a toxic work environment.

Set specific goals and objectives for addressing the factors identified in the SWOT analysis. For example, a goal could be to improve employee engagement by a certain percentage.

Develop an action plan that outlines the steps needed to achieve the goals and objectives. This could include improving communication between management and employees, increasing training and development opportunities, or addressing any issues with the work environment.

Invest in training and development for employees to improve their skills and productivity.

Review and improve financial management practices to ensure that employees are being compensated fairly and that benefits are competitive.

Embrace innovation by introducing new programs or initiatives that improve employee engagement and satisfaction.

Seek professional help if necessary, such as hiring a consultant or seeking advice from industry experts.

Fixing a business is not an easy task, but it is essential for the long-term success of any organisation. By identifying the factors contributing to common business problems such as declining sales, poor employee morale, inefficient processes, cash flow problems, and lack of innovation, businesses can develop a plan to address them.

The steps involved in fixing a business include conducting a SWOT analysis, setting specific goals and objectives, developing an action plan, investing in training and development, reviewing and improving financial management practices, embracing innovation, and seeking professional help if necessary.

By taking these steps, businesses can improve their chances of success and achieve their goals. It’s important to remember that fixing a business is a continuous process, and it requires ongoing effort and dedication. But with the right approach, any business can overcome its challenges and thrive in today’s competitive environment.

In addition to the steps outlined above, there are a few other key factors to keep in mind when fixing a business:

Communication is key. Make sure everyone in the organisation is aware of the plan to fix the business and their role in it. Encourage feedback and suggestions from employees to ensure that everyone is on the same page.

Focus on the customer. Ultimately, the success of any business depends on its ability to meet the needs of its customers. Make sure that any changes or improvements being made are geared towards improving the customer experience.

Stay flexible. As the business environment changes, so too will the challenges facing your business. Stay flexible and be prepared to adapt your plan as needed to address new challenges.

Celebrate successes. Fixing a business is hard work, and it’s important to celebrate the successes along the way. This can help to build momentum and maintain morale as the organisation continues to move forward.

Fixing a business is a challenging but essential task that requires a combination of analysis, planning, and action. By identifying the factors contributing to common business problems and taking concrete steps to address them, businesses can improve their chances of success and achieve their goals. Remember to stay focused on the customer, communicate effectively, and stay flexible in the face of new challenges. With these key principles in mind, any business can overcome its challenges and thrive in today’s competitive environment.

Business Solutions — Overcome Come Hurdles To Business Successes

What will the business world be like in 2023

What are the things business leaders need to know in 2023?

Pro Risk Managers exploring world of business risks and risk management solutions to survive 2023 and boost own business performance through and out of recession

Discover what you should really be worrying about in your business if you want to be really successful in business.

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Get to know about what really matters for your increased business success, or even survival

Find out what you do not know about your business performance key risk indicators and key control indicators. Overcome poor business performance.

Reflect on past experiences of good and bad business risk management. Accept responsibility corporately and individually for business risk management performance.

360 feedback is critical to learning from your business mistakes and identifying business improvement actions. Involve key people inside and outside of your business to engage your whole workforce in the development of a new business risk management strategy to improve your business success in future. Work better together to take in-house the responsibility of improving your business. We can help mentor your new business risk management strategy, but ultimately success or failure is in your hands.

Learn from your mistakes and the mistakes of other business leaders

We learn from our mistakes. We learn more from failure than from our successes. They don’t always have to be our own mistakes. Sure, learn from your own mistakes but also learn from other business leader mistakes. To boost your business success also learn from the successes, skills and experiences of other business leaders.

How are decisions made in your business?
Do you involve everyone in the decision-making process to ensure you use every last drop of good and bad experiences to improve your business?
How do you leave no stone unturned in the pursuit of your business survival and prosperity?

Develop real life business knowledge and business intelligence to improve your business performance. Solve your real life problems in your business now with business solutions that will work better for your business.

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What should you be worried about as business leader in 2023?

The things business leaders should be worried about if you want to really be successful in business

Here are some things business leaders should have in mind when deciding where to deploy finite money time and energy:

Market trends and competition: Keeping an eye on market trends and understanding the competitive landscape can help business leaders make informed decisions about the direction of their company.
Customer needs and satisfaction: Understanding and meeting the needs of customers is critical for any business. This can involve gathering feedback, analysing customer data, and continuously improving products and services to meet changing customer needs.
Financial performance and sustainability: Business leaders should be mindful of the financial health of their company and strive to achieve profitability and financial stability. This may involve setting financial goals, monitoring financial metrics, and making strategic financial decisions.
Employee satisfaction and retention: Happy and engaged employees can drive business success, so it is important for business leaders to prioritise employee well-being and create a positive work culture. This can involve offering competitive benefits, promoting professional development, and fostering a positive engaging work environment.
Legal and regulatory compliance: Businesses must operate within the bounds of the law and adhere to any relevant regulations. This can involve ensuring that business practices and processes are compliant with laws and regulations, and staying up to date on any changes to legal or regulatory requirements.
Innovation and growth: Business leaders should be proactive in seeking out opportunities for growth and innovation. This can involve developing new products or services, entering new markets, and finding ways to differentiate the business from competitors.

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What will be business world be like in 2023

How can a business survive during a recession

What should a business do during a recession?

What should a business do during a recession

Many very large businesses have already announced profit warnings. others have stopped recruiting. Central banks are stopping the release of cheap money into the economy. we have said for sometime now, that a global recession is coming to your business. have you prepared your business? What are you waiting for?

Rising unemployment is a common painful fact of a recession. With the current shortage of skills and high employment levels, many are burying their head in the sand about the economic factors which will bring about a global recession within the next 12 to 18 months. Too busy with other problems to think that far ahead, I hear you say? an understandable retort when business resources are limited. however, if you only invest your time and money in fighting current fires, you will always be reactive fighting current fires. taking some time to be more proactive, will enable you to breathe more easily and fight fewer fires.

How can your business prepare for and weather the coming global recession storm:

Simply battening down the hatches may not be the way to survive. Waiting for the storm to blow over may result in your business being blown away!
Stopping your investment in the right places of your business would be a mistake. knowing which parts of your business are the right parts is the tricky question.
Now, before the storm, maybe the time to review your business strategy and come up with an alternative risk management strategy to survive the change in business environment.

Will your business survive and thrive during a recession, perhaps a longer depression?

How can a business grow during a recession

Do you think keeping what you’ve got is the only business strategy to survive a long recession? Could you grow your way out of a recession:

Cutting your customer base yourself may be one way to shore-up your business resilience. Most of a business profit comes from a small percentage of its customer base. If your customers just bring turnover not profit they may sink your business not save it!
Boosting your productivity maybe an easier win then you think. Working smarter with your existing resources and assets will help your business sweat out more money.
Reaching out to more customers and markets maybe a better way to survive. Some of your competitors may have too much fat on their prices. Others may be great businesses but too much debt holes their business development strategy and they may go under. Other businesses will have opportunities from the survival of the fittest not necessarily the biggest or best.

Some businesses and business owners will get rich during the coming global recession. Your business will be affected by the recession, but it doesn’t need to be all bad or fatal.

Business strategy during recession

Managing debt down will be a crucial part of survival. That does not mean stopping spending. It means taking care to spend your money on the right things during a recession.

You need to look again at your decision-making. What are your priorities in a recession, compared to normal business environment?

Laying off workers may be a lazy business strategy. it is an easy obvious way to cut costs but it may mean that you are cutting your own business throat.

What is your business really good at? How can you do more of it? controlling cash flow and unnecessary spending is important, but that does not mean cutting investment in your business future.

Just because a business is big does not mean it will survive, nor does it mean that small businesses will suffer the most during a recession. Some of the biggest businesses that look amazing may have underlying issues that will sink them. small businesses who react quickly may be able to pick up the pieces.

How does the economy affect businesses

The more resilient a business is, the more likely it will be to survive the multitude of risks facing businesses in the current business climate. As a business leader you may not have control over all risk events which occur in the global economy, but you can be prepared for every eventuality.

Recessions affect different businesses differently. Do you understand what could sink your business? Are your risk control measures working? Have you put in place appropriate risk control measures for impending imminent future risks that may develop. is your business prepared?

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Get help and support for your business

Work with us to grow your business faster with less uncertainty

How business leaders can get help and support for business protection and growth

Your business can get advice, help and knowledge or business intelligence to solve most problems. Do you ask others for help to improve your business? Entrepreneurs and business leaders are usually ambitious, independent, and optimistic—and often don’t like asking for help. However, an opportunity to quickly and practically explore potential business solutions can save you time and money.

Few people, if any, have all the best answers to common questions that need answering in a practical pragmatic way. If one solution doesn’t work for you, come back for ideas to inspire you to solve your business problem in a different way. Be positive. By finding out what doesn’t work for your business you are one step closer to finding out what will work.

If you come up against a hurdle to your business success, jump over with the help and support of BusinessRiskTV.

Why is it important to ask for help in business?

Perhaps encouragingly, because if asked people tend to want to help. If you don’t find the complete business solution to your business problem, you may find one piece of the jigsaw that is a catalyst to inspire you to complete the rest by yourself.

How do I ask for help with my business?

There are a number of ways. Some are free to BusinessRiskTV subscribers. Others are only for our members.

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Our service creates many opportunities for you to protect and grow your business faster with less uncertainty holding you back.

How do you politely ask for help?

We don’t have to work in isolation. You can get help and support for your business from BusinessRiskTV membership. In addition, we facilitate collaboration with other business leaders near you and globally, so you have opportunities to ask other like-minded business leaders how they have already overcome your business hurdles. If you ask politely, respecting their need to solve their own business problems, you will find they can offer insight into how you can improve your business, from their experience of managing their business risks.

Asking for help can lead to business growth

A balanced business risk management strategy should not just look to stop bad things happening to your business. Your business risk management strategy should explore the best business growth opportunities to help you figure out how to expand your sales profitably faster.

We offer a range of opportunities to members to enable them to explore business growth when they want to.

Complex businesses can still be improved by simple practical ideas

The best way forward for your business may not be too complicated with a different look at your problem. Sometimes a different perspective of your problem from fresh eyes can unplug the blockage to your business successfully achieving your business objectives.

Are you nurturing new business relationships?

Talking online to like-minded people can be enormously rewarding. Even if your talking more to other business leaders does nothing more than confirm your own thoughts for best business solutions for your business, it is worth investing in talking more.

Are you making the most of tour investment in your current business relationships? Maybe by inviting them into our circle of like-minded business people you can help your existing business relationships produce more for mutual benefit. For example, our business risk management tools can help you and your existing business relationships identify new business development opportunities for mutual business growth.

Asking for help can be good for your business

We are sure you are ambitious for yourself and your business. Ask others for help, and broaden your network to get it. Seeking advice support and tips from new mentors, peers, partners, suppliers and even new customers can help you to help yourself and them. Examples include but not limited to:

Mentors – want the satisfaction of helping others. You can give them a new opportunity to do so by helping your business.
Peers – can be your competition, but you may not be competing in the same marketplace. Peers in USA may not be selling in UK so happy to help you in UK. You may even discover opportunities to collaborate to cross-sell into each others market with reciprocal support.
Partners – new business partnerships, formal or informal, can be formed to explore business growth for mutual benefit.
Suppliers – may be itching for you to buy a better product they offer but a failure in communication means both you and your suppliers are missing out on faster business growth.
Customers – you may not have truly understand what they need and you have only scratched the surface of your potential working relationship.

A little more trust and transparency can be derived from better communication. We aspire to improving business risk management communication between all stakeholders in a business including the above stakeholders.

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The pandemic, the war, the energy crisis, the food crisis and the health crisis will create economic chaos over the next couple of years. That does not mean you might as well shut up shop and go home! When chaos causes other business leaders to fold you need to become even more creative, flexible and dynamic. To prepare for the ensuing economic disaster you need to build on your hard work managing effects of pandemic to cover more issues including continuing supply problems, rising costs and bad debt. You may have thought that now a couple of years after the pandemic started you could start to breath more easily. Unfortunately the economic effects of the pandemic were smoothed out with unprecedented monetary support from global governments. However their magic money tree has died! You are on your own now. Now we will see who really are the good business leaders.

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More: You do not have to work it out on your own. Our business experts hub is available to you. Tens of thousands of business risk managers locally and globally are in your pocket, on your phone, to help you navigate your way through this economic storm.

We do not yet know and will never know with certainty, what key risks we will have to deal with in business. This is why we are horizon scanning for you. Our risk management experts are analysing and assessing new risks. We are researching and developing new risk management solutions. Subscribe for free to BusinessRiskTV to keep up to date with potential new threats and opportunities for your business.

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In the midst of economic chaos there will be both opportunities and threats for your business

Fix My Business Problems

Discover how to solve business problems with BusinessRiskTV

Get the best people to help you fix your business problems. Our risk experts hub can help you parachute in help at the right time more affordably for the correct amount of time. Sharpen your competitive edge to help your business succeed. Track the latest risk management information to inform your business decision-making process. Ensure you are not wasting money on poor business options and maximise the return on your available cash.

How can you solve the business problems holding your business back

Identify and clearly define the threats and opportunities impacting on your business objectives. When you understand the issues that could impact on your business you can focus your money and time on the things that matter to your business success or failure.
Pursue the opportunities most likely to help you achieve your business objectives.
Adopt a risk management process which will help you make better business decisions by reducing uncertainty.
Evaluate the solutions to your most important business issues to maximise the return on your investment of time Nd money.
Prioritise your risk management actions to maximise your business protection and seize new business opportunities quicker.

What are common business problems

Uncertainty is not managed cost effectively. Either too much or too little risk is taken in pursuit of business success.
Poor financial management can lead to wasted money reducing chance of success or increasing risk of failure.
Failure to monitor business progress or lack of progress. Know your key performance indicators and monitor them regularly to enable you to take early corrective action. Even the best business plans fail a little when put into practice.
Failure to comply with the rules of your business. Failure to comply can impact on you personally.
Failing to call upon the best people to help you achieve your business objectives could mean your amazing business ideas fail, not because you were mistaken, but due to failure to implement your business plans in best way.
Failing to gather risk information to help you make best business decisions at the right time.
Failing to use best tools plant and equipment may mean you just can’t compete with your competitors cost effectively to survive in business.

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Fix My Business Problems

LiveStream Shopping Platform

Use our livestream selling platform to grow your business faster more profitably

LiveStream Shopping Will Grow Your Business With Help From BusinessRiskTV

Our Live Stream Shopping Platform will boost your profit. Increase your reach to new customers to expand your online sales. Adopt good eCommerce solutions to improve your cash flow and strengthen your business resilience. Tap into rising demand for an online shopping experience with live video shopping. Our live video selling opportunities will increase your online sales conversions. Our LiveStream shopping experience incorporates live video content, interactive communication with potential new buyers and the ability for new customers to seamlessly buy or save featured products or services directly from you online.

Livestream Shopping enables your new audience explore your offering. Potential new customers will interact through their comments, likes and eCommerce opportunities to sell more online.

Offer LiveStream Shopping to your online audience with BusinessRiskTV

Sell your products or services direct to new buyers who discover your brand online with our help. Sell more locally nationally and even globally. Our live-shopping platform will increase your online sales and your profit.

Solve new potential customer problems before they move on.
Grab their online purchasing power before your competitors do.
Ask buyer blocking questions to make it easier for people to buy there and then online.

The heightened level of engagement with potential new customers gives you more time to showcase why new customers should buy from you and buy today!

Flash Sales To Fill Unused Service Capacity Or Unsold Stock

Deploy our LiveStream Shopping Service to maxise your profit when you want to. Give more people the opportunity to grab and bargain whilst you boost your profit.

Grow your business faster with BusinessRiskTV help.
Create a new brand live experience for your potential new customers.
Expand your online sales faster.

Our flexible cost-effective Live Shopping Service will more rapidly flex your online sales. Start selling more products or services online with our new live selling service. Live streaming combine with E-commerce will secure boost your online sales. Our interactive live-streaming ecommerce platform brings potential new customers to your business more quickly more profitably.

Sell to new customers down the road or to the other side of the world

Make Products Shoppable With Livestream

To make your products or services more shoppable through live streaming in the UK, you can follow these tips:

Showcase the products: Make sure to highlight the key features and benefits of your products during the live stream. Demonstrate how the products can be used and what makes them unique.
Interact with your audience: Encourage your audience to ask questions and engage with them in real-time. This not only helps build trust but also provides valuable insights into what your audience is looking for.
Offer special promotions: Consider offering exclusive deals or discounts to viewers who make a purchase during the live stream. This can create a sense of urgency and drive sales.
Make the process seamless: Ensure that your e-commerce platform is integrated with your live stream so that viewers can easily make a purchase. Make the checkout process smooth and secure to minimise any friction.
Partner with influencers: Consider partnering with influencers or social media personalities who have a large following in the UK. This can help you reach a wider audience and increase brand awareness.
Utilise social media: Promote your live stream on your social media channels and engage with your followers. This can help drive traffic to your live stream and increase the chances of making a sale.
Provide excellent customer service: Make sure to provide excellent customer service during and after the live stream. Respond promptly to any questions or concerns and follow up with customers to ensure they are satisfied with their purchase.

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Online sales and distance selling to expand through coronavirus pandemic

Now that we have been forced to take time to think about everything differently what will you do differently to ride the 4th industrial revolution wave ahead of your competitors?

Signs in the UK that there is demand for even more online. From food to online services to fashion people still want to shop but online from a distance. Major retailers are ramping up their online shopping and delivery services. Many are employing thousands of more staff to cope with demand.

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The coronavirus will hopefully pass. It could morph into something worse or less bad. Even if it does not burn itself out the human race will take months to find a vaccine in sufficient quantities to control its spread. Even when the G20 countries have it relatively under control they will be repeatedly be reinfected from each other and less well developed countries as people start to travel again.

Make no mistake one way or another the coronavirus will have long lasting effects on businesses and the global economy. This will totally change how we do business forever. Sure people will return to shopping in High Street shops but the proportion of retail shopping completed online will jump.

Furthermore consumers and business leaders will access more of their services online. More communication than ever will be arranged online. There will be less desire to travel for face to face meetings. Business leaders will become more used to online meetings and realise its better than wasting time travelling. More training will be arranged online. There will be many benefits including protecting environment saving money and saving the most valuable thing time.

Such enforced changes in business practices will usher in the 4th industrial revolution even faster

The 4th industrial revolution was accelerating before the coronavirus. COVID19 will turbo charge it.

Jobs will become obsolete even quicker
Opportunities to innovate will come faster
Technology will advance more rapidly
Minds will be more open to change
Consumers workers and business leaders will be hungry for something better than what we put up with precoronavirus
There will be a bigger demand for faster internet speeds including 5G and increased supply

Now that we have been forced to take time to think about everything differently what will you do differently to ride the 4th industrial revolution wave ahead of your competitors?

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Do you fear losing what you have created instead of valuing what you might gain from taking more risk?

How to overcome loss aversion with BusinessRiskTV.com

How do we make the best use of available business assets and resources to maximise return of investment of time and money

Fear of loss often beats the desire to gain more. Fearing losing everything you have built is natural human reaction. However is your fear getting in the way of seizing new business opportunities? Keep innovating and growing with less uncertainty with BusinessRiskTV.

Develop a holistic risk management culture to drive your business forward. Up your risk appetite to achieve more with more controlled balanced risk taking.

The biggest factor in business leader decision making is fear of loss. People worry about loss more than securing gains.
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Develop a more assured risk management framework and risk assessment process to match your risk culture. Make sure your risk taking remains within your risk tolerance.

Do you have loss aversion bias in decision making?

Business leaders who are loss averse feel the pain of loss much greater that any joy from any gains from decisions made. They make strategic business decisions accordingly. The risk culture of the business models the loss aversion bias of the business leader.

If this works well for your business you should continue with status quo. However if you would like to experience faster business growth you may need to take more calculated risks.

Loss aversion refers to the tendency to prefer avoiding losses to acquiring equivalent gains. It is better for you to not lose 10000 pounds than to make 10000 pounds in business.
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However most entrepreneurs and many business leaders are in their position to better themselves. If you mitigate the potential losses from taking more risks and manage the risks to maximise the return on your investment you should end up with faster growth with less uncertainty.

It is more common in people who are not entrepreneurs or business leaders to be biased against taking risks. Loss aversion is a reflection of a general bias in human psychology. People tend to want to stick with what they know than make changes that might not work well. People in general are resistant to change. When presented with the potential benefits of change they focus more on what might be lost rather than on what can be gained.

What is your business risk tolerance? If you can make changes to try to grow faster that if do not work fall within your risk tolerance would you take more risk?
If you adopted small changes rather than one big radical all eggs in one basket change would you feel more comfortable? Spreading your faster business growth changes across a few new ideas may be better for your business. When you know which one of the new changes works best perhaps then you can focus on one new idea.
Do not confuse more risk taking in business with gambling. Taking calculated risks to grow faster is about assessing and then managing the risks before you action more risk taking. You can mitigate the threats from more risk as well as maximise the returns from taking more risks.

Few things in business life are guaranteed other than taxes! Even maintaining the status quo comes with the threat of business failure. Kodack photography business was once one of the most successful businesses in the world. How many Kodack films do you buy for your camera now!

The desire to avoid business losses is motivated by fear. The more a business leader fears losses the more likely he or she is to be loss averse and the more likely they are to be disinclined to make changes to their business to be more successful. Having a better understanding of the risks that could be taken to achieve more will make loss averse business leaders more comfortable with changing the the business.

Often the perception of risks and reward are skewed to the belief that you are doomed to fail which means you do not make changes to the business. By the same token it is important that all stakeholders in the business are involved in assessing risks from changes to business. Business leaders who do like taking risks can miss the pitfalls to mitigate against whilst making changes that can cause the change project fail even if it was a great idea.

With a little input and engagement from all levels of the organisation your project to grow faster is more likely to be a success. Take risks that are worth taking which are achievable with everyone onboard.
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Learn how to solve business problems effectively. The best business leaders can avoid business problems before they become a problem for their business. Engage all your employees to help you solve business problems. Change how you think about business problems.

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Identify the risks impacting on your business
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If the business problem is a big daunting issue for your business break it down into smaller component parts and assess the parts independently so the big problem becomes more manageable. Avoid business problems altogether if possible.

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Help your business grow faster instead of fearing survival

What business risks will your business face over the coming 10 years. How will the 4th industrial revolution impact on your business. How well prepared are you? What things will change in the future.

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Looking for information to inform your business decisions? Protect your business better. Grow faster. Work out practical business solutions on risk insight and business intelligence. Enhance your strategic operational and project decisions.

What is business intelligence and how could it benefit your business?

Optimise your business performance with existing business resources.
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Get an edge over competitors selling your business products or services. Pick the risk analysis tools you prefer to provide better business analysis and market intelligence.

The purpose of business intelligence is to support better business decision making to protect you better and grow your business faster
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Include business intelligence as part of your business risk management process so that your business decisions are better informed.

Understand how your business operates and how you can run it better. Develop risk management insight. Developing better business intelligence will help you more holistically bring all parts of your business together. Make better use of your existing business resources. Become more productive.

Improve your management of your business
Dynamically increase your business flexibility
Reduce unplanned interruptions to business output
Reduce the number of systems used in your workplace to improve productivity and efficiency
Build business resilience
Seize more opportunities to grow faster

Share your business intelligence to receive business intelligence. Reciprocal collaborative online forums to improve business performance.

Access crucial information more easily
Reduce procrastination and make quicker business decisions
Create a competitive advantage for your business
Answer your business questions to overcome barriers to business growth
Learn from others experience of business and reduce need to reinvent the wheel to solve your business problems

Access deep risk insight to develop your business risk management knowledge more easily. Build a more successful business quicker.

More developed business intelligence will give you a competitive edge in a highly competitive marketplace in your country or industry. Making quicker decisions may be essential to win new business or reduce business losses. Make your business decisions knowing those decisions are based on clearer risk insight and knowledge to have more confidence in the outcomes of your business decisions.

Working together and sharing risk information can save you money and time at the same time as providing practical insight into what may work well for your business.
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Having a better view of your present circumstances in business can provide you with the chance to make better choices to improve your future in business.

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Top risks in world economy the threats and the opportunities

Global economic issues and trends with BusinessRiskTV.com

What are the biggest risks to the global economy?

Although unpredictable lets try and predict the future! What is exciting is that clearly there are many threats particularly from the environment and trade wars. There are also massive opportunities for business leaders who are in control of their own business risks.

What are the biggest threats and opportunities to the world in the new decade?
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Some of the biggest global risks business leaders have little control over. Warfare and mass destruction global inequality between countries and unequal economic development creating mass economic migration global trade wars global pandemics political shift towards popularity driven left or right wing positions and systemic collapse of the financial markets. Contingency planning is the best that business leaders can do to manage most of such global catastrophic risks.

However there are risks business leaders do have the potential to have control over but do not always control such global occurring risks. Global risks falling into this category include deteriorating natural environment and global warming as well as cyber attacks.

Many of the risk management solutions for one global risk can manage the threat and opportunity from another risk without extra investment of time or money.
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BusinessRiskTV is scanning for threats and opportunities to the global economy in the new decade. If you look for it you can still see an abundance of wealth and opportunity globally and locally.

Global Recession?

Putting warfare and mass destruction risk to one side the most likely cause of a global recession is the continuing or deterioration of global trade wars.

The climate threat has come off age! The solutions are already known. However the will is less obvious. The financial services industry particularly banks will probably be the biggest influencers in driving environmental protection. Many banks and investors are refusing to finance coal businesses and are threatening divestment and lack of funding for other fossil fuel businesses. Even the governor of the Bank of England has told pension fund managers to sort out investment in fossil fuel based businesses.

The flip side of this is the opportunity to make money from environmental protection. Existing and developing environmental protection technologies are a real business opportunity. Even if your business does not sell environmental protection products or services your brand needs protecting via the adoption of good environmental protection policy.

The world is drowning in debt and fake money. Government corporate and personal debt. How future generations will cope with the weight of debt when many in the developed world are also going to suffer the effects of demographic time bomb detonation. Quite frightening! However one way to cope with future and present global risks is for governments to invest money in infrastructure particularly 5G communication and utilities. Many of the innovation and inventions are going to rely on power and the internet.Necessity is the mother of invention but with power and faster communication we will be trapped in the past with only a vision of how much better our future could be globally.

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The global landscape is changing rapidly, with new risks emerging every day. From geopolitical tensions to cybersecurity threats, businesses around the world are facing a complex and constantly evolving set of risks that they must manage in order to survive and thrive. In this article, we will explore some of the most pressing global risks that businesses need to be aware of and offer some strategies for managing them effectively.

Geopolitical Risks

Geopolitical risks are those that arise from political tensions between countries or regions. These risks can take many forms, including trade wars, sanctions, and military conflicts. One recent example of a geopolitical risk is the ongoing trade war between the United States and China, which has had significant implications for businesses around the world.

To manage geopolitical risks, businesses need to stay informed about political developments in the regions where they operate. They should also be proactive in diversifying their supply chains and hedging against currency fluctuations. In addition, businesses can consider partnering with local organisations or governments to gain a better understanding of the political environment and mitigate potential risks.

Cybersecurity Risks

Cybersecurity risks are those that arise from the increasing use of technology and the internet. As businesses become more reliant on digital systems and data, they also become more vulnerable to cyber attacks. These attacks can take many forms, including ransomware, phishing, and malware.

To manage cybersecurity risks, businesses need to invest in robust cybersecurity measures, such as firewalls, encryption, and regular system updates. They should also educate their employees about best practices for online security, such as avoiding suspicious emails and using strong passwords. In addition, businesses can consider purchasing cyber insurance to mitigate the financial impact of a cyber attack.

Climate Change Risks

Climate change risks are those that arise from the impact of climate change on the environment and society. These risks can take many forms, including extreme weather events, sea level rise, and food and water scarcity. The impact of climate change is already being felt around the world, and businesses need to be prepared for the potential consequences.

To manage climate change risks, businesses can take a number of steps. They can invest in renewable energy sources and other sustainable technologies to reduce their carbon footprint. They can also develop contingency plans for extreme weather events and other climate-related risks. In addition, businesses can consider partnering with governments and NGOs to address climate change at a systemic level.

Supply Chain Risks

Supply chain risks are those that arise from disruptions to the flow of goods and services. These disruptions can be caused by a variety of factors, including natural disasters, political unrest, and pandemics. The COVID-19 pandemic, for example, has had a significant impact on global supply chains, causing shortages of critical goods and disrupting manufacturing and distribution networks.

To manage supply chain risks, businesses need to develop contingency plans for disruptions, such as alternative suppliers and backup inventory. They should also be proactive in identifying potential risks in their supply chains and implementing measures to mitigate them. In addition, businesses can consider investing in technologies, such as blockchain and IoT, to improve supply chain visibility and resilience.

Financial Risks

Financial risks are those that arise from changes in the financial markets or economic conditions. These risks can take many forms, including fluctuations in exchange rates, interest rates, and commodity prices. They can also be caused by systemic risks, such as a global recession or financial crisis.

To manage financial risks, businesses need to be proactive in monitoring financial markets and economic conditions. They should also develop contingency plans for potential disruptions, such as currency hedging strategies and diversified investment portfolios. In addition, businesses can consider partnering with financial institutions and other experts to gain a deeper understanding of financial risks and opportunities.

Managing global risks is a complex and ongoing process for businesses around the world. By staying informed about emerging risks and implementing proactive measures to mitigate them, businesses can reduce their exposure to potential losses and position themselves for long-term success.

It’s important to recognise that global risks are interconnected, meaning that a disruption in one area can have ripple effects across multiple industries and regions. For this reason, businesses need to take a holistic approach to risk management, considering the potential impact of each risk on their operations and stakeholders.

In addition to the strategies outlined above, businesses can also consider partnering with risk management experts and other organisations to stay informed about emerging risks and best practices for risk management. By taking a collaborative approach to risk management, businesses can better anticipate and manage global risks, while also positioning themselves for long-term success in an ever-changing landscape.

Overall, businesses that are able to effectively manage global risks will be better positioned to thrive in a rapidly changing world. By staying informed, developing contingency plans, and investing in resilience, businesses can reduce their exposure to potential losses and position themselves for long-term success.

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Do you want to or have you founded a business? Want help to build and develop your business? Reduce uncertainty impacting on your success as an entrepreneur. Need an eBusiness mentor to help your business grow faster online?

The next decade is going to be the best decade for entrepreneurs if a couple of pieces of the jigsaw fall into place
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There has been no lack of imagination or invention from people around the world. There has been a lack of entrepreneurship. The big boys have sucked up too much of the investment. People have played it very safe since the financial crisis in 2008. However we feel that the entrepreneurial environment is about to explode in a positive way.

If trade wars around the world particularly between USA China can be resolved then everyone will benefit. It will unblock pent up investment.

Money is actually sloshing about but in safe havens awaiting the right environment to be unleashed. In addition it is historically incredibly cheap to borrow lots more money.

Why is money not being used more productively? Fear! People were burned during the 2008 financial crisis that we are just hauling ourselves out of. If governments around the world invest on infrastructure the future is bright. If trade wars are resolved the future will be even brighter!

The people who act first tend to be the people who reap the rewards of taking risks. If you have a good business idea now is the time to act before someone else does.

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Businesses operate in a constantly changing world, where the risks faced can be unpredictable, complex, and varied. The potential impact of risks can range from reputational damage to financial loss, and in some cases, threaten the very existence of the business. To ensure sustainable growth and profitability, businesses need to have robust risk management strategies in place that are aligned with their overall objectives and risk appetite. This is where global risk management solutions come into play, providing businesses with the tools, insights, and expertise to manage risks effectively and proactively.

BusinessRiskTV.com is an online platform that provides a range of risk management solutions and services to businesses worldwide. With a network of risk management experts and thought leaders, BusinessRiskTV.com offers a range of resources, including articles, videos, webinars, and tools, to help businesses understand, manage, and mitigate risks effectively. This article will explore some of the key global risk management solutions available on BusinessRiskTV.com and how they can help businesses navigate the complex and ever-changing risk landscape.

Enterprise Risk Management

Enterprise risk management (ERM) is a holistic approach to risk management that involves identifying, assessing, and managing risks across the entire organisation. ERM aims to create a risk-aware culture within the organisation, where risks are considered in all decision-making processes and integrated into the overall strategic planning process. BusinessRiskTV.com offers a range of resources on ERM, including articles, videos, and webinars, that can help businesses develop and implement an effective ERM strategy.

One of the key benefits of ERM is that it provides a comprehensive view of the risks faced by the organisation, allowing businesses to prioritise and allocate resources effectively. By identifying and assessing risks across all areas of the business, including operations, finance, and reputation, businesses can develop a more holistic understanding of their risk profile and take a more proactive approach to risk management.

Business Continuity Management

Business continuity management (BCM) is the process of identifying and managing risks that could disrupt normal business operations. BCM aims to ensure that businesses can continue to operate in the event of a disruption, whether caused by a natural disaster, cyber-attack, or other unexpected event. BusinessRiskTV.com offers a range of resources on BCM, including articles, videos, and webinars, that can help businesses develop and implement an effective BCM strategy.

One of the key benefits of BCM is that it can help businesses minimise the impact of a disruption on their operations and reputation. By developing a comprehensive business continuity plan, businesses can identify the critical functions and processes that must be maintained in the event of a disruption, as well as the steps needed to recover and resume normal operations. This can help businesses minimise the financial and reputational impact of a disruption, and ensure that they can continue to meet the needs of their customers and stakeholders.

Cyber Risk Management

Cyber risk management is the process of identifying, assessing, and managing risks related to information security and technology. With the increasing reliance on technology in business operations, cyber risks have become a major concern for businesses worldwide. Cyber risks can include data breaches, ransomware attacks, and other forms of cybercrime that can result in financial loss, reputational damage, and legal liabilities. BusinessRiskTV.com offers a range of resources on cyber risk management, including articles, videos, and webinars, that can help businesses develop and implement an effective cyber risk management strategy.

One of the key benefits of cyber risk management is that it can help businesses protect their sensitive information and systems from cyber threats. By identifying and assessing cyber risks, businesses can implement appropriate security measures, such as firewalls, antivirus software, and employee training programs, to mitigate the risks. This can help businesses reduce the likelihood and impact of a cyber-attack, and ensure that their operations and reputation are protected.

Compliance and Regulatory Risk Management

Compliance and regulatory risk management involves identifying and managing risks related to compliance with laws, regulations, and industry standards. Compliance risks can arise from a variety of sources, including changes in legislation, non-compliance with industry standards, and breaches of contractual obligations. BusinessRiskTV.com offers a range of resources on compliance and regulatory risk management, including articles, videos, and webinars, that can help businesses develop and implement an effective compliance and regulatory risk management strategy.

One of the key benefits of compliance and regulatory risk management is that it can help businesses avoid legal liabilities and reputational damage. By ensuring that they comply with relevant laws, regulations, and industry standards, businesses can demonstrate their commitment to ethical and responsible business practices. This can help businesses build trust with their customers and stakeholders, and enhance their reputation in the market.

Supply Chain Risk Management

Supply chain risk management involves identifying and managing risks related to the supply chain, including risks related to suppliers, logistics, and transportation. Supply chain risks can include disruptions caused by natural disasters, political instability, and changes in regulations. BusinessRiskTV.com offers a range of resources on supply chain risk management, including articles, videos, and webinars, that can help businesses develop and implement an effective supply chain risk management strategy.

One of the key benefits of supply chain risk management is that it can help businesses minimise the impact of supply chain disruptions on their operations and reputation. By identifying and assessing supply chain risks, businesses can implement appropriate risk mitigation strategies, such as diversifying their supplier base, implementing contingency plans, and enhancing supply chain visibility. This can help businesses reduce the likelihood and impact of supply chain disruptions, and ensure that they can continue to meet the needs of their customers and stakeholders.

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