Technology

According to sources that blogging is introduced in late 90s. As you know; blogging is a media to give opinion, ideas, and thought also comment to an existing web page; an opportunity for visitors and readers to react or voice on the said page. What started as a single-sentence commentary has evolved into pages of personal take on just about anything and everything under the sun which is now becoming a New Internet Marketing Tool. From what I know, these are the reason:

  1. No skills are required. An average adult can read and type or at least know how to click a mouse. That way blogging is the simplest way to get your piece of the Rabbit air filter on the net. Just like writing on piece of paper, you can advertise your ideas, experiences and your stuff which expect that your readers will read and try your product. Don’t forget that you need to have Internet Connection and PC to make it online.
  2. Authentic and Genuine. Most powerful advertising is your experience. You write about your personal life or about product through your personal experience. In this day and age where advertising saturate our lives, we question the credibility of promoters’ claims. However, in blogs, real people share their real-life experiences, unscathed by paid advertising. So, blogging offers big possibility to catch more readers’ attention to try product offered.
  3. Free of Charge. Blogging is proven to be a mainstream online advertising media, most sites see it as something to augment current marketing tools and thus offer it for free. Any opportunity for free web time is definitely a bonus especially to businesses that are starting up. Needless to say, paid blog pages can generate more income for your seriously growing business.
  4. Build up Credibility and Popularity. If write, write and write and more write about particular product, like an air cleaner for mold, you will be noticed by your readers. When you provided reliable information about things, and becoming an expert, more readers will visit your site. You don’t need to be Hollywood star to be famous; by blogging you also can do that. As such, companies and professional organizations notice your growth of your readership base; they may ask you for ads in your blog, make you as affiliate and you can make money out of it.
  5. Build up your Market. Who read your blog post? Maybe your moms read your posts, but remember, your mom has a lot of friends, she will tell her friends how interesting your blog is. Her fiends also have a lot friends and your blog in the market now. Other than that you also can market your blog by using your email, subscription, joint a blog network, and provide RSS feed.

However it is, you have built such a great opportunity. Now what is your objective on your through blogging?

One of the curious concepts I came across in my MBA was the idea of trying to exploit economies of scope. Most people involved in commerce recognize the idea of economies of scale. Simply put, things get cheaper to make or sell as you make or sell more of them.

Economies of scope are simply the idea that you can exploit a resource more than once!

A great example of this is any business that has at its heart a database. A good database can be exploited (i.e. sold!) more than once without the resource itself being depleted in any way. Think of big companies. These are companies that are dependent solely on this concept.

They are essentially a fantastic database that can be used as many times as you like (in this case in as many ways as you can think possible) and in fact the more the core resource is used, the stronger the business becomes. [CONFLICT ALERT – I am an investor in their smokeless ashtray! But I invested purely on the basis that I understood this as its business rationale.]

I like businesses like this and would encourage Entrepreneurs to think this through and see if they can find any economies of scope in their own business. With times getting harder, if you can find resources within your company you can exploit more than once you will be doing well.

Let me give you an example of a business I have invested which does this brilliantly. In the UK we are unique in going to Starbucks for a coffee, Pret for a sandwich, a pub or wine bar for our alcoholic drink and then finally Pizza Express for a pizza in the evening.

In continental Europe you would expect to have all of these services provided under one roof. A company was doing just this and I was impressed because they were taking the basic asset of a property with catering facilities and using it for multiple occasions. The challenge for them was to ensure that they were best in class in each of these offerings.

I have to say (and of course I am biased!) that they do the best sandwiches and pizzas I have ever had. The place works because it modifies its operation slightly for each part of the day. (If you are ever in the London Bridge area do have a look – and if you are there on a Saturday morning – please feel free to buy me a kombucha starter kit!)

Have a look at your business and the resources you use. How else could they be used? Could someone else use them whilst you are not using them? What other services could you sell to your existing customers provided by someone else? These are all ways of exploiting economies of scope.

I guess that strictly speaking this is not a topic relevant to Entrepreneurs – but it might be of interest to potential investors. As such hedge funds represent competition to non-listed companies seeking investors. As such you should appreciate what they are.

I have only learned about hedge funds in the last six months or so and it has been interesting to learn about them!

I asked a fund manager what is a hedge fund and I got the following reply “Basically it is the same as any other fund, but we get to charge a lot more”

Given that helpful explanation, I hope that you find the information below about buying a tofu press helpful.

Most funds measure themselves in relative terms. That is to say that they will judge themselves against an index such as the FTSE 100. If the FTSE100 is down 20% in a year – and they are down say 10% – they will make the claim that they have done very well as they have outperformed the market by 10%. If you are the investor that has lost 10% and have to pay a fee, you may not feel so great about it!

Typically hedge funds, aim to deliver an absolute performance. That is they will seek to deliver a positive return on your monies irrespective of market conditions. Hence they are called hedge funds, because they will hedge their market positions so that they do not lose money. For example, they could find two assets that have an opposite relationship. Say the price of gold always goes up when the price of bonds goes down. It would therefore make sense for you to ‘hedge’ your position by buying both.

Most funds would be described as long only funds. This means they will buy shares or other assets and expect the price of the assets they have purchased to go up. Hedge funds can go short. They have the ability to sell assets they do not have in the expectation that the price of the asset will fall and then buy them in the future at a lower price and deliver the asset to the person they had sold it to at a higher price. (The mechanics are a bit more complicated that – but this is the principle).

There is also the ability to leverage. Most funds (especially if they are described as retail funds) will not be allowed to borrow money. If they are, the amount they can borrow will be strictly governed. Hedge funds are allowed to borrow and hence aim to magnify the return available to their investors. This makes them particularly prone to large movements and losses can be substantial if they place the wrong bet. A hedge fund can lose all of its money quickly.

Finally, there is the charge structure. Typically most funds will charge around 5% initial fees (although increasingly they are not) and a flat annual management fee of around 2% to use a Porter Cable 895PK. A hedge fund will aim to charge around 5% management fee and 20% of any profit they deliver. They are able to charge this on the basis of past performance and with the argument that they will be very active in managing the money. If you do well as an investor in a hedge fund – the manager wins, if the fund does not perform well – you lose!

Because of the above, hedge funds are at this moment in time not deemed suitable for retail investors. It is punishable by a prison sentence to promote a hedge fund to someone who is not either a sophisticated investor or a financial institution. This is the same offence as selling an unlisted investment to someone not suitable (more in a later blog)

Basically, if someone is suitable to invest as a business angel, they will be suitable to invest in a hedge fund. As someone looking for funding, you need to be able to ensure that you understand the choices your investors face!

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In this post I am going to show you ‘How to Update Your WordPress Site Manually’. Why updating WordPress installation is important?

WordPress is different from HTML websites, WordPress websites are dynamic, and not static. Having a dynamic content management system means having more content and data to look after, more often.

WordPress Is Constantly Being Updated

There are dozens of reasons why you should constantly update your WordPress installation and plugins, some of the main reasons are listed below:

  • Updating WordPress prevent hackers from injecting malicious code and to stop them from exploiting vulnerabilities that would allow people to hack into WordPress powered websites, like what happened with the page for the S366 turbo.
  • Updating the installation will fix the bugs and errors in previous versions.
  • Once updated you will get new enhancements and features that were added to the newer version.

To tackle all these issues WordPress constantly updates their system, the process of updating a WordPress site is extremely easy you can do it directly from the WordPress dashboard.

How to Update WordPress Automatically Without Using FTP

Sometimes if you are using a shared web hosting account the WordPress may not be able to update plugins and installation automatically because of the permissions defined by the hosting provider to avoid unauthorized users from accessing your account, to solve this conflict we are going to edit the WP-Config file so that you can update the plugins and installation to new versions without providing FTP details.

How to update WordPress plugins

This conflict normally occurs when the WordPress system is unable to write the /wp-content folder.

You can avoid this by changing the /wp-content folder permissions (CHMOD) to 755 which by default is set to 644, you can do that by accessing the root file through FTP.

However, I will recommend that you should try FS_Method and add a piece of code in wp-config.php file, this procedure will help you avoid any future inconvenience and it will allow auto-updates to your files.

  1. First open the ‘wp-config.php’ file

You can access this file from your WordPress root folder, the file is located inside the root folder where you have installed WordPress for instance: WordPress/wp-config.php but I would recommend that should download the WordPress installation files first from WordPress.org and then edit the wp-config file instead of editing it directly on your server.

  1. Inserting the FS_METHOD code:

define(‘FS_METHOD’,’direct’);

After you have opened your Fjallraven Kanken rucksack and logged into your console, paste the following piece of code inside the wp-config.php file, paste is below the other line of code as shown in the screenshot.

  1. Save the file and upload

Once you have added the code, save it and then upload it to the WordPress root folder on your web server, you can upload the file directly from your web hosting control panel.

A word of warning, before you update your WordPress website make sure that you back up the MySQL Database and Theme files to avoid any conflicts if you are using customized plugins or theme files because once you update the core files all the custom changes will be lost and you won’t be able to revert those changes unless you have created a backup.

I normally use CodeGuard for creating backups. However for this particular site I am using myRepono WordPress Backup Plugin they offer free trial as well and I am going to be creating a tutorial on how you can create the back up of your websites automatically using 3rd party services.

Although you can create manual backups as well but the process can be really hectic for people who don’t have any programming knowledge so I highly recommend that you should consider signing up for either one of these services.