General

Home General Page 3

Three mistakes to avoid when advertising your services in Singapore

Mistakes when advertising services

The whole world is now being run on the principles of capitalism. Whether you like it or not, but it is true. And it is good to accept the truth. Otherwise, it would become difficult to survive. Yet, change is important, but before it, it is important to accept. So for now, you need to live according to them in this capitalistic corporate world.

The corporate world is all money. To earn money, you need to brand yourself, and your company, or your product. To brand yourselves, and your entities, you need to understand the psychology of a common man, in order to captivate his or her eyes towards your cream, burger or services which you provide.

In the word of today, it is easy to brand, promote or advertise the company or product. After all, we have Facebook and Instagram. And the two are used the most. Therefore, it can be used to increase the visibility of a particular brand among the public.

Although, we have social media, the chances of making mistakes are not reduced. That’s the reason, why a few achieve success in building their business or entrepreneurship in the whole world.

No doubt, some mistakes can only be improved with experience, but there are some mistakes which are made by all new entrepreneurs and newly-built start-ups. The three most common mistakes of them:

Free of cost:
No doubt, money has value. Everything is bought from it. But, it does not mean to avoid spending money on those things which are important.
Today’s passionate or going-to-be businessman and woman try to use social media to promote the page. They usually ask their friends to like it. But, dear future entrepreneurs, your friends won’t be able to give you that result which social media’s advertising service can give.
Their services can double the number of your followers and posts or tweets which the reader had seen or read. Therefore, they are usually recommended to save money, and spend that money in promoting the brand.
The more you spend on advertisement, the more sales you will get.
So, don’t run behind “FREE OF COST”, and spend some money on development.

Pictures are enough:
It is the mindset of the majority of the population of the whole words that advertising agencies do not require to read a lot. It is the perception of a common man or woman that advertisers need creativity only. So, dear businessmen and woman, let me explain to you that everything needs reading, whether you are passionate to become write or engineer, reading books is must in all.
Reading different books gives you knowledge. And knowledge makes a person able to think about different things from different perspectives. That’s what makes him or her make creative, empathetic and intelligent. And that’s what is needed when advertising.
So, read, find your target audience and advertise your brand.

Consistency:
Majority of the struggling entrepreneurs cannot remain consistent. They don’t update their page or social account of their brand. And that’s the biggest they commit. Because, in this way, they lose engagement, which is required to achieve success in a short time.
Thus, they should update their accounts daily of their office. In this way, it will be important for viewers to visit the page.
So, don’t lose hope, and remain consistent. Consistency, with few spoons of patience, lead you to success.

So, these are the top three mistakes which entrepreneurs commit a lot. But, if you want to keep yourselves away from committing them, then read above. It will definitely help you!
Good luck for the future!

Creating new ways of managing Fintech through New Innovative Ideas

fintech new inovative ideas

The “out of box” thinking start-up Crawfort is changing the rules when it comes to loan granting solutions

Management of finances and regularizing cashflow is a challenge for many Singaporeans. In Singapore, there is a community of people faced with limited credit access.

In cases where such help is needed, a top-rated licensed microfinance company, Crawfort, offers an attractive financial solution. Founded by brothers John and James Cheow, the company is best in the market when it comes to upping the ante on the traditional models of money lending and bringing it into a new era of technology-enabled consumer finance.

According to Mr. John Cheow, co-founder and chief investment officer: “Our experience as entrepreneurs has made us realise how hard it is to access capital when you need it the most. Because of this, we identify and empathise with others like us, and want to help individuals, and small and medium enterprises, who need access to credit facilities.”

STARTING A REVOLUTION

Crawfort was founded in 2011 by Jjohn and James Cheow, the firm is leading others when it comes to drive innovation and leverage on the emergence of smart digital processes. With these capabilities in force, the company was able to achieve a new high in the streamlining of internal processes and optimizing resources to achieve greater efficiency and productivity.

Now, Crawfort has become a top rated and most trusted name among the firms offering a suite of loans ranging from personal, business to bridging, for a wide range of customers. The company has seen an uptick in returning customers which shows its quality of service and appeal of its comprehensive range of products. Serving as a further testimony of its outstanding customer service standards and delivery, Crawfort has achieved up to 96 percent customer satisfaction reviews.

According to Mr James Cheow, co-founder and chief executive officer:  “At Crawfort, customers are our primary focus. Sincerity, respect and empathy are at the heart of our corporate culture and we believe excellent customer service is a direct reflection of these values. We build trust through the way we’ve approached customer service, and we place a huge emphasis on building a partnership with our customers. We treat every customer with the utmost respect, and we like to make them feel at home. Over time, because of this, we have come to gain their trust and confidence.”


TRAILBLAZING THE WAY

Nowadays, the government has implemented new moneylending regulations, as a result, the industry has largely shrunken in terms of providers — Crawfort has stayed aligned with these changes and has witnessed fast growth. By innovating and steadying its overall approach to conducting business, it has always stayed ahead from the rest of the pack and is continually changing perceptions around moneylending.

Crawfort offers the best customer service and hospitality. It conducts transactions in a comfortable and friendly environment and provides on-time service delivery through quality customer care. Its onboarding and approval processes also provide customers with a simple and seamless experience in applying for access to credit facilities.

Additionally, it appeals to a new generation of customers who are seeking an intuitive and impeccable user experience. Crawfort has deployed the use of innovative solutions to process its loan applications using proprietary algorithmic formulas in its predictive scoring credit methodologies. Crawfort’s approval process is fast and delivers responsible lending, without compromising on compliance and face-to-face customer screening.

As  Mr John Cheow himself says: “We’ve always sought to be a pioneer in the industry in many respects. For instance, we were the first moneylending business to use AXS and SAM machines and post offices for repayment transactions. Thanks to our adoption of the best of today’s technology, we have optimized internal processes, and this has translated to happy customers.”

How to make the most of a failed business strategy

failed business strategy

As an entreprenur, you must know that failure is inevitable but to achieve success you must move forward. Keep a positive mindset and a flexible attitude. It is important to learn from the mistakes and what makes them succeed from previous business owners. A real entrepreneur is not defined by its failures but by how he overcomes that. Following are some ways to get rid of failures and let your business thrive.

You should be ready for every kind of failure either it is in the form of loss of buyers or product etc. Before initiating your business you must set a vision. It will guide you and give you clarity.

To overcome the failure you must know what is going wrong. You must take feedback from your customers it will tell what is missing or flawed in your business. Then make every effort to correct it. You should not be emotional about your business and keep yourself separate from the business. You must run your business like an owner without letting your emotions come between. You must not take money out from your business to quickly and continue investing and reinvesting it. It is irresponsible to eat money from your business just because you are the boss. Your team is what matters for a successfull business. Choose your team carefull. Choose a competitive, capable and skilled team then trust your team. You must make your team believe that this business is as much theirs as yours. Some people just work for their paychecks and have no interest in your ideas behind the business. Such type of people will harm your business.

A fundamental part of the business is to satisfy your customers. Give them what they want. Try to gain their trust. Demand and supply is the core of your business. Find out what your customers desire and try to fulfill them. Your business will not flourish by just one client, continue the search for new clients and add them. Invest in a low budget advertising agency.

Constantly keep a check on your business. Know your strengths, weakness, and profits. Monitor your accounts and all your collected data. If you have faced some problem try to get to its roots. Remain ready to make some hard decisions. Know your errors, either you are paying more salaries than the income you earn or the product is more expensive than its price. Lay off some staff if you need to manage your budget. Remember nothing comes before business.

Keep yourself aware of your surrounding especially your competitors. Know your state policy, most states and countries have laws that promote small business by cutting off some slack and taxes. If your company is still failing to review all the assets. They might be the only money you got. Some time assets act as a lifeline to keep you in the run further. Don’t make emotional decisons especially in dire circumstances. Don’t sell your products and machinery on a hasten impulse because there are a lot of people that will use your these costly mistakes for themselves.

Five Powerful Morning Habits to Help You Become More Successful

Morning Habits

Success is not a destination rather it is a journey.

With that being said,

It is important to layout the truth here, that you don’t become successful overnight. It takes a lot of effort and sacrifice. You build the ladder to success, yourself. The key to success is developing certain habits that help you be more productive and result-oriented.

One of the most essential habits that is crucial for your success is your morning routine.

Powerful Morning Habits

We all can agree that morning is probably the most important part of the day. It dictates how the rest of your day goes.

In order to help you climb the ladder to success,

Here are the top vital morning habits that will help you perform at an optimal level.

1.       Early to Bed, Early to Rise

A habit that all the successful entrepreneurs have in common, is that they wake up early, before everyone else.

Starting your day early can help you be more efficient as it will give you more time to focus on your goals.

Try to start your day at 4:00 am or 5:00 am by latest. This will give you an edge over others.

2.      Daily Dose of Motivation

You can never be motivated enough. Your brain requires a constant reminder as to why you’re doing all that you’re doing in order to stay focused.

To keep yourself motivated, you need to dedicate an hour of your morning to inspirational anecdotes or quotes.

Listening to inspirational podcasts can make you emotionally invest in your daily objectives, that will, in turn, increase your productivity.

3.      Incorporate Exercise

Exercising is crucial for your mental and physical health.

Including exercise in your morning habit, is an excellent way of getting your body ready to tackle the day. There are countless benefits of exercise for your brain. Also, the metabolism rate of your body is enhanced, as a result, you feel fresh throughout the day.

Blowing-off some steam in the morning will enlighten your mood as well.

4.      Prioritize

To carry out the daily tasks effectively, you need to know how you will be spending your day.

Time can be your best friend or your worst enemy, depending upon how you utilize it.

Scheduling your day, jotting down everything that’s important and then prioritizing them according to their significance, can save you a lot of time.

Before starting your day, make sure you’re organized to compete for the tasks in an orderly fashion.

5.      Intake of Nutrients

Healthy breakfast is an essential part of your morning.

Intake of nutrients that are good for your brain, will help increase your cognitive performance. As a result, you will be able to function better and your mind will be full of energy.

Try to have breakfast that includes;

  • Omega-3
  • Vitamin K
  • Vitamin E
  • Iron

Morning habits play a vital role in setting the tone of your day. So, make sure you have the best morning habits to conquer your dreams.

Do Successful Entrepreneurs always take big risks?

Entrepreneurs

Entrepreneurs are the persons who start their own small business. These are the people who’re capable of doing a successful business because of their sharp minds and intellectual talents. Basically, they start their business on a small basis and take high steps to change their lives. 

Entrepreneurs take risky steps for the business anyhow these steps provide loss in the start but they’re very beneficial for the future. 

Are you looking to start your own small business and feeling worried about the growth? Seriously speaking the risky steps are the crucial part of every business and without them, the business cannot go high.

Why successful entrepreneurs always take big risks?

The successful entrepreneurs always take the big steps to grow their small business to the high mountains. Let’s discuss the reasons behind them.

  • As you take more steps you become more aware of the business rules. You start feeling confident as you gain the knowledge of all the tools, procedures and the methods. This thing makes them fear free and they start learning more because of the new risks every time.
  • You set your daily goals and move from impossible to possible. The entrepreneurs divide their daily tasks and start making dollars on a daily basis. No doubt they have to face some loss mainly in the start but this loss is far better. The small loss can be compensated through daily profits.
  • The successful entrepreneurs take the regular risky steps which make them unstoppable towards the destination.
  • If you don’t take the risks and don’t keep the daily investments surely you’ll be able to gain much success. If you do a tiny investment surely you’ll gain a very small profit. If you spend much on the products, website designing, marketing, advertising surely you’ll get a large number of customers in a very short time. The money costing factors can put a lot of benefit for the profit of the future.
  • Learn about the business very carefully and do regular research for development. Do the best practices for the success of your business. Make the checklists and the handbooks for the ways to go to a higher level.
  • The regular risk takers become so confident about the flaws of the business. It makes them succeed in the future. These risks make them much aware of the ups and downs. In this way, they don’t take any harmful steps in the future.
  • More experiments make you learn fast and do proper planning. The risks boost communication skills and make new customers. New risks lead towards new improved services. New innovations move you towards new ideas and success.
  • As the market grows much fast and the new services always impress the customers. Taking new risks make you learn the new ways thus there’re higher chances of your business growth.
  • The risks save your business from the economic downturn. When you face competition you get awareness about the products and the prices in the market.

In the last, it has been clear that the risks give greater chances for the establishment of your business and you become confident in persuading the customers towards you.

Crawfort (Singapore’s leading Fintech) is changing the way you transfer money, Traditional Money Lending doesn’t work anymore

Money transfer

Most dynamic and emerging Fintech start-up of Singapore, Crawfort is changing the way people used to do money borrowing and lending.

Managing finances for you individually or as a company is not an easy task in fact maintaining fluid cash flow is a challenge for many Singaporeans. In Singapore, large numbers of people have people very limited credit access.

The good news is that your worries are now over because in cases where such help is needed, now there is a premier licensed microfinance company, Crawfort has tailor-made financial solutions for you. Crawfort was founded by two brothers called John and James Cheow. Crawfort is leading the way when it comes to creating innovative and dynamic solutions for moneylending which are not like your traditional models of moneylending; instead, it is bringing it into a new era of technology-enabled consumer finance.

As said by the CIO Mr John Cheow: “Our experience as entrepreneurs has made us realize how hard it is to access capital when you need it the most. Because of this, we identify and empathize with others like us, and want to help individuals, and small and medium enterprises, who need access to credit facilities.”

Bringing a revolution to financial market

Crawfort was founded eight years ago in 2011, the Fintech has successfully driven innovation and excitement on the emergence of smart digital processes. With these capabilities in capacity, the Fintech was able to reach a new high in providing smooth flow of internal processes and efficiently assigning resources to achieve greater results and productivity.

Now, Crawfort is the most trusted financial firm offering a wide range of loans ranging from personal, business to bridging, for a wide range of customers. The firm has seen an upward growth in returning customers which is a sign of its quality of service and appeal of its comprehensive range of products. Serving as further evidence of its excellent customer service standards and delivery, Crawfort has achieved around96 percent customer satisfaction reviews.

 Mr James Cheow, the CEO of Crawfort once said: “At Crawfort, customers are our primary focus. Sincerity, respect, and empathy are at the heart of our corporate culture and we believe excellent customer service is a direct reflection of these values.

We build trust through the way we’ve approached customer service, and we place a huge emphasis on building a partnership with our customers. We treat every customer with the utmost respect, and we like to make them feel at home. Over time, because of this, we have come to gain their trust and confidence.”


Pioneering the new ways

Even though the government’s implementation of new rules for moneylending, which has largely reduced the industry in terms of a number of lenders, Crawfort has stayed updated with these changes and has witnessed even faster growth. Through implementing new ideas and its approach as a whole to conducting business, it has looked to differentiate itself from the rest of the pack and is continually changing perceptions around moneylending.

Crawfort offers the best customer service and hospitality. It conducts transfers in a comfortable and welcoming environment and provides prompt service delivery through quality customer care. Its onboarding and approval processes also provide customers with a simple and seamless experience in applying for access to credit facilities.

Crawfort attracts the new generations of customers who are seeking an intuitive and impeccable user experience. Crawfort has employed the use of efficient solutions to process its loan applications using custom made algorithmic formulas in its predictive scoring credit methodologies. Crawfort’s approval process is fast and delivers responsible lending, it does not compromise on compliance and face-to-face customer screening.

Additionally, Mr John Cheow: “We’ve always sought to be a pioneer in the industry in many respects. For instance, we were the first moneylending business to use AXS and SAM machines and post offices for repayment transactions. Thanks to our adoption of the best of today’s technology, we have optimized internal processes, and this has translated to happy customers.”

How FinTech is changing the world with new and innovative money lending ideas?

Fintech

No one can deny the importance of having a growing SME sector in a country as its regularly cited by governments and economists as key to any countries growth as a nation. In Singapore, SMEs account for nearly two-thirds of the working people and a large portion of GDP growth. But if these firms fail to get funding, their failure to thrive has a dampening effect on the larger economy.

For big national level companies and multinationals, the options are endless for accessing credit are established and numerous, but for startups and small businesses, the only solution is to seek a loan.  Their normal route for sourcing loans has been to contact the banks, but for those with no credit history, insufficient collateral, or no proof of a stable revenue stream for repayments, credit solutions offered by banks have remained out of reach – a situation ripe for technological disruption.  

This situation was even become worse by the Global Financial Crisis and subsequent credit crunch in 2008 when banks were no longer able or willing to extend credit of any kind, and small businesses or startups were mostly at the receiving end.  With limited credit resources available, they found few alternatives to the established banks and difficult choices regarding the future viability of their businesses. 

The traditional or manual banking system was too slow for SME’s to get funds to keep their business running and fuel its growth.  According to McKinsey, traditional banks’ average ‘time to decision’ for small business and corporate lending is between three and five weeks, while the average ‘time to cash’ is nearly three months. For those needing access to short-term funding, this effectively renders a loan solution irrelevant, creating a class of businesses underserved by existing institutional offerings. 

How technology can help us overcome this obstacle

Innovation and automation provided the breath of fresh air into lending markets. Computerized applications and back-office processes go part of the way towards delivering the kind of accessible solution that will ease SMEs’ short-term needs.  Many existing lenders realized that it is necessary to shift from traditional system to the new digitalized system they have caught on to this necessity and in some cases have leveraged technology to improve their response times. Digital technology, not just a way of delivering efficiency to existing processes, instead it is proving to be a paradigm shift in how such businesses are structured and run.  FinTech firms are putting pressure on the banks which have the advantage of building their business and systems from scratch and remaining nimble. FinTech firms are moving rapidly into the gaps not covered by the banks, thus they are filling the credit vacuum small businesses previously faced.  They are bringing the change which is much-needed innovation to move forward to a space that has remained traditional for too long.

Utilizing the potential of new technologies such as blockchain, big data, and smart analytics enables new business models to emerge: FinTechs have sharply realized that analyzing client data, including the flows of payments and remittances between counterparties, gives them a powerful tool for accurately assessing risk and creditworthiness.  

In addition to that, digital networks enable innovators to establish lending models that don’t rely on any 3rd party to manage risk and provide liquidity. Other forms of lending are lean, efficient and able to reach parts of the market previously seen as unprofitable or difficult to risk-assess.  This process of avoiding 3rd parties has leverages the inherent flexibility of electronic networks, putting borrowers in touch with lenders in a more direct and efficient way, with smart analysis functioning just like a match-maker to introduce borrowers to lender. 

It’s time to move to new lending models

Apart from making the process smooth, automation has removed the costs out of the process has transformed the economics of lending so as to result it is making smaller amounts cost-efficient to lend to, and smaller borrowers more feasible for both parties. Additionally, technological solutions have also provided convenience in the ways small borrowers can make repayments: in Singapore, technology-based lenders first enhanced the customer experience by offering simple repayments at post offices and via AXS machines. Today, repayments are run largely through online platforms, positively improving business processes for many SMEs each day.     

If you study the business case for FinTechs is mostly very compelling.  It is funded by investors instead of the banks’ reliance on depositors, FinTechs offering very innovative ways of lending are experiencing rapid growth and size of transactions they are handling are set to skyrocket. Statista projects from $64 billion in 2016, the global total could reach $1 trillion by 2025.  

And for lenders, the investment case can be very appealing, as they have to provide relatively low upfront capital demand, alternative lending can offer handsome mid-range return on investment. Across the U.S. industry, lenders gain an average 4.4% return, making alternative lending significantly more profitable than a savings account or other low-yield investments. Investors willing to offer higher-risk loans can access yields of 10% to 12%. In some markets, like India, returns can reach 18-26%, according to lender Faircent.com.

Responsible business practices you must follow

We have to keep in mind that the alternative lending space for SMEs is still very new and both parties involved need to take a responsible approach to some forms of alternative lending.  China, which took to the Peer-to-Peer (P2P, one of the faster-moving types of alternative lending) model very passionately and experienced rapid growth. China has recently introduced rules and regulations to protect consumers after concerns that the model could be misused by some unethical operators.  Having snowballed, growth has now decreased as greater regulatory oversight has driven many platforms out of business. With protections for both lenders and borrowers a key element of ongoing market health, responsible FinTech firms should keep abreast with relevant regulatory developments and ensure compliance. 

For Capital C Corporation, taking a proactive approach is key when it comes to feeding new ways of lending. We see the success of FinTechs’ alternative offerings as something with very long-term potential so avoiding the issues experienced in markets like China is the only way to build confidence and trust.  As a result, confidence and trust make for a strong foundation for long-lasting lending businesses. They build a trustworthy base of returning clients who, satisfied with the service they have received, will come back again and again.

A responsible approach to building alternative lending businesses will eventually lead to a sustainable and flexible alternative credit space occupied by companies providing suitable and sustainable sources of finance. A growing SME sector is important for any country’s economy and we feel strongly that with suitable lending options in place SMEs that were in the past underserved by traditional credit institutions can continue to in the long term as Fintech is the only way forward.

What do you need to know about Unsecured Loans in Singapore?

unsecured loan singapore

The world is evolving at a fast pace. Similar to the needs of people are moving in the fast lane. Most of the people are stuck in situations where they need financial assistance. Savings are not enough they approach for bank loans. Well, further bank loans are divided into different categories to ease the facility of loans. One of the kinds that are most feasible and avail by the people of Singapore are Unsecured loans. Well, there are many benefits but as well as some cons of this loan. So, before you are going to avail the opportunity, just make sure that it is suitable for your position and not damaging anything directly.

Information is necessary for you to get the right loan and make a decision that is beneficial for your financial situation. This information will not only save from any trouble but you can ensure the security of your assets.

Banks might have a little difference in the policy but rates are almost the same. However, we will help you to understand the basics of Unsecured loans in Singapore in a precise manner. Just explore the article and you will get the information.

What is an unsecured loan?

Unsecured Loans are also preferred as personal loans. It is clear by the name that it is dependent on borrowers credit score. These loans are avail without any security of assets. A person must have high credit to get his loan approved.

Types of Unsecured Loans

These unsecured loans have different types which can include personal loans and student loans.

  1. Revolving loan: the loan can be spent, repaid and spent again. It is more like credit cards.
  2. Term Loan: this is the type of loan in which a person is responsible to pay equal installments till all payments are done by the term.
  3. Consolidation Loan: pay off credit cards or signature loans fall in the category of consolidation loans and also unsecured loans.

What you should be concerned about the loan?

If a borrower defaults on a secured loan, the lender can reclaim the collateral to earn the losses. On the contrary, if a borrower avoidances on an unsecured loan, the lender cannot claim assets. However, the lender can take other actions, such as ordering a collection agency to assemble the debt or taking the borrower to the law court. If the court rules in the lender’s favor, the borrower’s pays may be enhanced, a lien may be located on the borrower’s home or the borrower may be otherwise ordered to pay the debt. However, before the approval. The borrower needs to understand the criticality and need of the loan. So, before you file for approval, ensure that you have complete clarity on your needs. Take guidance from a different lender. It is always good to have different options. A slight change in the policy can make it feasible for you. Therefore, do not forget to do your research before applying for Unsecured loan in Singapore. 

Popular Posts

My Favorites

Personal loan Idea

Is Getting a Personal Loan is a bad Idea in Singapore?

Personal Loan can be a viable option in a variety of circumstances. First, let define a personal loan. Some loans are earmarked for a...