The Right IT Stuff – Finding and Working with the Best IT & Web Partner for Your Small Business

Do you often feel stuck in the computer abyss when it comes to managing your company’s needs for web or information technology services? Businesses with fewer than 50 or 60 employees often find themselves struggling to keep pace with their basic web and computer support services and miss out on effective small business IT solutions.

Without the guidance of an information technology services provider, small businesses can end up wasting time and money on computer support services because they aren’t in touch with the best technology tools and practices for small business IT solutions. Even zero-employee companies can benefit immensely from a computer support services partner who shows them how to standardize their practices, save money with the right hardware or software and develop effective websites.

Putting Out Fires – Who Needs Dedicated Computer Support Services Anyway?

The approach often taken by small organizations when it comes to information technology services is one of putting out fires. No one has time to update the website, the network is cobbled together with wiring strung across the floor, and you’re not sure when the last backup really ran. Then, a hard drive starts going click-click. You call that guy you occasionally use for computer support services, “Joe-I-Fix-Anything-PCs,” to get the computer booting. That’s when to your horror you discover that the tape in the drive since last Tuesday wasn’t really backing up and the click-click is the sickening sound of your QuickBooks data being eaten by the dying hard drive.

There is a Better Way: A Solutions Partner for Web and Information Technology Services

It isn’t that “Joe” can’t spot you some quick computer support services and get you up and running again. It’s the point that the “bargain” hard drive failed without warning, your data wasn’t backed up and you didn’t even have a centralized data management practice to begin with. Wouldn’t it have been great to avoid all the headaches by using best-practice guidelines for business management and making informed purchase decisions? That’s where a good small business IT solutions provider comes in, not only to avoid disaster but to save money. For example QuickBooks could be integrated with your shipping and credit card processing which saves three employees 30 hours a week in order fulfillment. Then you might implement a web solution for online orders which integrates with QuickBooks. A good information technology services partner makes computer support services a value proposition.

Small Business IT Solutions – Hiring a Partner

So what’s the best way to find a great web or information technology services partner to work with and then get the most out of that relationship?

1. Look for a company that specializes in small business IT solutions

Computer support services companies that specialize in small business will be more in tune to your particular needs and challenges. They will understand budgetary constraints for computer support services and the need to use resources very efficiently. Because technology developers and manufacturers are now seeing a large and relatively untapped market of small business customers, there are some terrific tools emerging for small organizations. A technology partner focused on small business IT solutions and information technology services will help your company grow and succeed.

2. Do you need a local information technology services partner?

Not necessarily. If the goal here is to find a provider of information technology services to help you manage your website, make purchase decisions and facilitate projects, it doesn’t have to be local. With sophisticated remote tools and web-based collaboration, many problems and projects can be addressed remotely. The key is to find a good fit. For onsite service such as network installation or hardware swaps, a good solutions partner can identify and schedule local computer support services as needed or works with a nationwide network experts for repairs, rollouts or other onsite computer support service. If the company isn’t local, ask what provisions it has in place for onsite service.

3. Personalized computer support services

One of the stigmas attached to the tech industry and a common complaint about providers of computer support services is lack of personalization. A good provider of information technology services wants to get to know you, your processes and your employees. The staff should ask questions about what your company does and who the key contacts are to gain a feel for your organization’s culture. Likewise, access to the provider’s staff and resources is equally important. The relationship is going to be much more effective when that company has a mandate for personalized service and an open door to communications.

4. Due diligence

Think of hiring a solutions partner for information technology services like you would hiring someone for your staff. Look for a company that is seeking a long-term partnership. Ask for references. Then find out how long the company has been in business, who you will have access to for a problem or project and how the provider charges for its computer support services.

5. Cohesive approach and good facilitation

The partner that you select should want to take a cohesive approach to understanding your business or organization and help you come up with a customized plan for your technology and web needs, be it a long-range strategy or a specific project. The difference between “Joe-I-Fix-Anything-PCs” and a provider of complete information technology services and solutions is someone who can do a good discovery about your organization and its goals, facilitate the project and help bring together providers for the components outside their expertise. Also, a one-stop shop can provide you with benefits. Keeping your hardware and software purchases, web and computer support services together can provide you economies of scale combined with the convenience of single point of support and access to someone who knows your business.

How to Get the Most Out of the Relationship

6. Identify key problems, goals and areas to improve efficiency

Once you partner with a provider of information technology services and solutions, the first and most important step is an analysis of problems. The more you can communicate about your company, current practices and areas to improve, the more effective your solutions partner can be in coming up with a computer support services plan designed to keep things running smoothly, maximize your assets and move your organization forward.

7. Set up best practices

Typically the biggest challenge small organizations face in being successful is getting out of their own way, seeing the big picture and making the changes necessary for improvements to happen. A good small business IT solutions partner can help you set up best practices to get most out of your investment in information technology services. However, making sure those practices are implemented and followed rests squarely on your shoulders, not on those of your computer support services provider.

8. Avoid costly mistakes – Don’t make impulse purchases

Whereas large companies tend to have a formal evaluation and approval process in place for making technology purchases, many smaller organizations make impulse purchases. Let the company you’ve hired for information technology services do its job and provide you its expertise on purchases. If the company resells hardware and software at competitive rates, purchasing from it can be worthwhile. You’ll have a single point of purchase for computer support services, and the company can recommend hardware and software from manufacturers it has partnerships with and expertise on as well. All of that translates to added benefit to you.

9. Choose managed information technology services designed for business

Small organizations have a tendency to operate off the cuff, looking for freebies or grabbing cheap services not really designed for business. This approach to information technology services can come back to bite you. If you want to grow your business, approach your needs for computer support services like a bigger organization would. If your IT partner makes recommendations on computer support services that you think you can find cheaper elsewhere, take a hard look at what you are getting and how it can really benefit your business. Once you weigh all the benefits, you may find the value to your business growth and offerings far outweighs the cost.

10. Can I still do it myself?

Working with a good provider of information technology services doesn’t mean you can’t do anything yourself. In fact, a reputable and innovative IT company should educate you on how to better manage your technology needs and investments. There are still a lot of day-to-day tasks you can and should do within your organization, depending on your skill level, time and desire. The point is to keep your computer support services partner in the loop and use their expertise and input on major technology decisions.

Conclusion

So, what’s in it for you? By partnering with a provider of information technology services, you’ll find a more thought out, comprehensive approach to small business IT solutions that can increase efficiency, save you money, generate revenue, and help your business succeed

5 Takeaways That I Learned About Loans

Information About Payday Loans Sometimes, some unexpected expenses come your way. You may need cash for hospital bills or to pay tuition fees. Because they can be acquire quickly and easily, payday loans could work to solve your financial needs. If you badly need cash, payday loans could be useful for you. Personal loans through banks can be more time consuming. There are times when you won’t be able to get these loans because of a lack of collateral or a poor credit score. In this case, payday loans are very advantageous. When you use your salary as collateral, this would count as a payday loan. There is a time period of thirty to ninety days before a payday loan would mature, meaning it is short term. Whenever a loan is due, you would pay for it using your paycheck or you also have the option of renewing the loan.
Why not learn more about Services?
Payday loans tend to have higher interest rates as opposed to personal or regular loans. Interest rates can also very from low to high. Interest rates could be different depending on the lending organization so its best to inquire about these rates before signing up for a payday loan.
Short Course on Funds – Covering The Basics
Calculation for payday loan fees could be either weekly or monthly. It is important to understand the terms of the lending firm when it comes to this. It is vital that you can pay off the loan in the agreed schedule since these payday loans could have a high interest rate when compounded annually. Inquire about the requirements if you are interested in obtaining a payday loan. A lot of lending firms will only have a few requirements when it comes to payday loans. You would need to have proof that you are in a steady, full time job and that you also have an account with a bank. It is required that you be an adult to get a loan. You might be required by your lender to issue postdated checks as a guarantee of payment. Your account will be debited or your check will be encashed once the payday loan will be due. If you are in an emergency, payday loans can be useful for you. It is important to know when to avail of these payday loans. The time period needs to be short and the amount should be small when you want to avail these types of loans. To prevent a loan that will blow up, this step is recommended. You can also cancel the payday loan before its due date if your finances will allow you to. This will help you avoid paying more for interest and other fees. You will improve your credit score as well as make yourself more eligible for another loan later on.

Small Business Target Market

Many small business owners forget to identify and define who their target market is, which hinders them from completely capitalizing on consumer buying. In order for them to be successful they must have a clear understanding of who the consumer is, what their needs are and their purchase behavior. If small business owners have a complete understanding of whom their consumers’ are, it will encourage customer retention, help define their business niche, and allow them to market their products in a profitable way.

Small business owners must identify their consumer by demographics and not by a broad spectrum. The more they know about their consumers the more they increase their chances of success. If they can’t identify their target market, they increase their risk of failure and prohibit the business from being consumer focused. Companies that don’t understand the importance of being consumer focused suffers from limited growth potential and they risk wasting money and valuable resources on marketing to the wrong consumer. It’s not a smart business practice to assume that all consumers are alike. This assumption prohibits the business from finding its place in the market.

When researching their target markets, small businesses must be specific when defining their consumer and avoid general classifications. The biggest issue business owners have when finding information about their target market is information overload. There is a wealth of information on the internet but knowing what information is needed can be a hang up for most new businesses. In order to minimize getting drowned with useless information it is best for new businesses to come up with research questions that can guide them through their research. They should compile a list of questions specifically related to their business and consumer.

Small business owners should be well informed about their consumers’ demographics such as age, gender, income, education level, occupation, family/household size and region/geography. If a small business objective is to offer affordable daycare service to single mothers who can’t afford it at the full price then the companies target market should reflect that. If the small business defines its target market as women with kids, it would mean that their service is open to all women with children of all ages. With this broad defining, the company wouldn’t be fulfilling its objective of offering affordable daycare service to single mothers in need. However if the small business redefined its target market as single mother households with incomes of $15,000- $35,000 who have children between the ages of 6 mos.- 11 years of age, it will allow them to really impact the market and target a specific group. This not only helps small business owners define their target market but develop their business niche.

It would be wonderful if all small business owners could do everything for everyone but the truth is a small business can only do so much. If small business owners settle on servicing a specific part of the market they can increase their chances of success. All major companies have a specific target market, for example Wal-Mart brags about offering low prices that help their customers live better lives, which are directed toward bargain shoppers in a target market of low to middle class families. They market and offer products to a specific group and because of this it have been a big key to their success.

Business owners must take note of the importance of understanding their target market as a necessary part of the start up process and that it shouldn’t be ignored. Before potential business owners begin business they should invest the necessary time in a thorough research on defining their consumer. By taking the necessary time to identify and define their target market, business owners can reap the benefits that will help sustain their business. It will eliminate wasteful cost and time spent marketing their service or product to the wrong consumer.

Online Resource For Small Business

Small business online refers to resources available to small business owners via the Internet. Many financial companies provide information on funding resources, business laws and terms, and management advice for small businesses. These sites enable business owners to make sound business decisions to increase the likelihood of their success.

One of the main reasons individuals looking for business online resources is to find information on ways to finance a start-up or existing business. Most lenders, including commercial banks, the Small Business Administration (SBA), and non-traditional financial companies, now provide detailed information regarding the different funding options provided. With these sites, business owners can find out if they qualify for a certain loan and compare loan terms to other available financing options. These lenders typically provide secure online loan applications as well, making the approval process faster. However, for loans that require any documentation, these may have to be faxed or mailed to the lender before the approval process can begin.

Small business online lenders also provide financial management advice to growing small businesses. From other financial websites, entrepreneurs may also be able to access glossaries of common business terms, lists of business laws, and the most up-to-date news, including stock reports. Many of these websites may provide forums that allow entrepreneurs to connect to others with similar interests to exchange ideas, opinions, and advice on business matters. Connecting to fellow business owners can help entrepreneurs to make better business decisions.

A small business online resource is a website designed to aid small business owners in every aspect of entrepreneurship, including finances and management. Most lenders, including the Small Business Administration (SBA), commercial banks, credit unions, and non-traditional loan providers, offer websites to inform business owners on different types of loans and their requirements. Other websites are run by financial companies who specialize in assisting businesses with financial counseling and management tips and advice.

A lender’s small business online resource typically lists all available loans and the requirements needed to apply for one of these loans. These websites may also allow business owners to apply via a secure online application to accelerate the approval process. However, if a loan requires financial documentation, these may have to be faxed or otherwise sent to the loan provider before the approval process can begin. If a business owner already receives funding from a lender, he or she may be able to access information regarding that funding online. Borrowers can check interest rates, repayment plans, and the amount still owed.

Other small business online resources provide financial counseling and management tips to help businesses succeed. These websites offer step-by-step guides for accounting processes and business plans, glossaries for common business terms, and hundreds of articles with ideas on how to improve profitability. Business owners may also be able to join a forum to give and receive feedback amongst fellow entrepreneurs.

The Beginner’s Guide to Services

Why Using Electronic Cigarettes are Beneficial to Your Finances People who enjoy smoking might worry, knowing that this activity can be dangerous for their health in the long run. One who is worried about his or her health, then, might be eager to learn about alternatives to smoking, ways through which the dangerous consequences to health can be avoided effectively. It is definitely good to know that today, one can easily find this kind of alternative, and it comes in the form of electronic cigarettes, or e-cigarettes, devices which are used to create vapor which can be puffed in and out like smoke. Switching to e cigarettes, then, is certainly a great choice to make, as when you take this step, you can be sure that the advantages and benefits that come your way will be numerous and wonderful. The first thing that people will be able to benefit when they switch to e cigarettes is the benefit of saving a lot of money and actually being able to improve their finances. When one uses the traditional cigarettes, he or she might not realize it at first, but buying these cigarettes over the years might actually be something that adds up to be quite expensive. The good news is that when people start using e cigarettes, they can avoid these extra expenses and actually improve their finances in a very wonderful way. When one switches to e cigarettes, he or she will also be able to benefit by being able to eliminate the sour smell of smoke that follows one wherever he or she goes. For those who smoke traditional cigarettes, it might be an embarrassment to always smell like smoke, knowing that people around them might dislike the smell intensely. On the other hand, when one starts using e cigarettes, he or she can erase the stench of smell with something delightful, something that smells of flowers, fruit, dessert, cotton candy, or anything that he or she chooses.
Questions About Tips You Must Know the Answers To
When one switches to e cigarettes, he or she will also benefit because e cigarettes do not have the harmful chemicals that traditional cigarettes have. An e cigarette certainly does not have any of the dangerous chemicals found in traditional cigarettes, and one who purchases e cigarettes can benefit through the enjoyment of better health in the long run.
The Best Advice on Resources I’ve found
When one switches to e cigarettes, then, he or she will certainly be able to enjoy a lot of benefits and advantages in the long run.

Once In Awhile It Just Might Pay for You to Reevaluate Your Existing Mortgage

People have the tendency at times to simply get caught up in the actual busyness of their current everyday lives. When this takes place, we at times permit go the numerous routine maintenance duties that, had we remembered and also concluded all of them, could possibly have diminished how much pressure we endure! Precisely what are these types of tasks that anyone should look after every so often? They are not the typical routine tasks, such as the laundry, the vacuuming, the monthly payment regarding the expenses and also the investment in goods. Such things as these happen essentially automatically, mainly because most people notice the adverse implications regarding not undertaking them all promptly. These types of periodic tasks may have unfavorable effects as well, nevertheless they are not destined to be observed as immediately.

An effective solution would be to schedule these kinds of reviews on someone’s schedule every year or possibly two so that they aren’t overlooked. They are distinct and sundry responsibilities such as irregular heavy household cleaning, yearly wellbeing check-ups through an individual’s medical professional, washing leaf dirt from your gutters, sealing your deck, taking the dog within regarding his / her inoculations, and more. In addition to these types of bodily tasks, it is usually important to examine stuff like the typical particulars of your current insurance policies. When was the past occasion you looked at your policy restraints plus annual expenses with more modern policies on the market? It is a distinct possibility that you may get improved protection for no more, however you will be unable to recognize until you make the comparisons.

In the same way, each and every property owner along with a mortgage loan must make an effort to take a peek at his own mortgage every couple of years. How can your interest compare with what is offered by fantastic lenders like Fellowship Home Loans (https://www.fellowshiphomeloans.com/) nowadays? Is your rate fixed, or perhaps adjustable? If it’s adjustable, has this gone up or perhaps down since you last reviewed? Must you talk with those experts in fellowshiphomeloans.com in relation to a possible refi? In the event the existing interest is at this time perhaps a point or even two less than that one you’re paying for, it could be useful to work the amounts to see if you save money simply by loan refinancing. One’s lenders at www.fellowshiphomeloans.com will be more than pleased to help you determine at which stage a refi is smart.

The Four Stages of ‘Change Curve’ Small Business Owners Should Know

The ‘Change Curve’ is a helpful tool for small businesses to understand the stages of personal transition each employee undergoes. Kubler Ross developed this model to explain the grieving process (Shock and Denial, Anger and Fear, Acceptance and Commitment).

This model helps small business owners predict how employees will react to a change, and advises how to help and support the employees through their personal transitions.

An organization does not change just because of new systems or processes. It changes because people within the organization adapt and change. Only when people within the organization make their own personal transitions can the organization benefit from the change.

The Change Curve model

The ‘Change Curve’ model helps small business owners understand the stages of personal transition and organization change. This model comprises four stages that employees go through as they adjust to a change.

Stage – 1: Shock and denial

Stage – 2: Anger and fear

Stage – 3: Acceptance

Stage – 4: Commitment

Stage – 1: Shock and denial

This is the first reaction that small business owners notice in their employees – they react to the challenges to the status quo. This reaction is seen more in experienced and established employees because these employees are indifferent to new systems and procedures. They feel uncomfortable because of the fear of the unknown, fear of doing something wrong and lack of information. They feel threatened and fear failure. Under these circumstances, they normally take it as a friction rather than an opportunity.

What do the employees need here?

Employees may experience this stage multiple times. To get over it, employees need information, need to understand what is happening in the organization and need to know how to get help from the organization.

Note: This stage affects particularly those employees who have not experienced any major change before.

What should the organization do?

At this stage, it is the responsibility of the owners to communicate with their employees and educate them about the benefits that they will gain by adapting to new systems – personally and professionally. Remember not to overwhelm your employees by flooding them with loads of information at a time, or they may even be more confused.

Stage – 2: Anger and fear

This is the second stage that is seen in the employees. As employees react to a change, they start expressing their anger, concern, resentment or fear. They may resist the change actively or passively. This stage could be dangerous and if the organization does not manage it carefully, it might result in chaos.

What should the organization do?

At this stage, the small business owner should handle employees’ objections carefully. Since reaction to change is personal and emotional, it’s impossible to prevent it from happening. Therefore, the organization should try to address the employees’ experience and iron out the issues as early as possible.

Note: As long as employees remain at Stage – 2 of the Change Curve by escaping progress, the change will be unsuccessful.

Stage – 3: Acceptance

This is a turning point for employees as well as the organization because the employees have stopped focusing on what they have lost and have started accepting changes. They begin exploring changes, and get a real idea of what’s good and what’s not and how to adjust themselves accordingly.

What should the organization do?

This stage is critical – it takes time for employees to learn and accept things. Therefore, don’t expect your employees to be 100% productive during this stage. Give them time so that they learn and explore without much pressure.

Stage – 4: Commitment

At this stage, there will be a commitment from the employees in analyzing and embracing the change. They start rebuilding the way they work and this is the stage at which the organization starts to see the benefits of the change.

Benefits of the change

At this stage the organization will see the benefits of putting in effort for the welfare of their employees when they were in a grieving stage. The positive effects of the Change Curve are now more evident through its productivity and profit.

The Change Curve is an effective model for small business owners while managing employees. Locating an employee on the change curve will help the business owner decide on how to effectively communicate information to employees and to know what kind of support they require. This helps them take necessary measures and protect both the business and the employees.

Maintaining a Small Business Credit Score

Small businesses are responsible for the majority of the wealth in the world. Small businesses are found throughout the world and work in a number of industries ranging from farming to manufacturing. While it is difficult to start a business, the rewards are great.

The only way to have success as a business is to grow. If you business doesn’t grow then you won’t be around very long. In order to grow, a small business needs cash and commercial activity. The main foundation of growth is credit, but you need to know how to safely get it and extend it. Your small business credit score will determine how much credit you can get.

What is a Credit Score?

A business needs access to credit for two reasons. First, credit allows a small business to get a loan or line of credit from a financial institution. Second, credit can let a small business buy the necessary supplies and goods. No matter why you need credit, it is giving you something of value in return for a promise of repaying all the cash in the future.

So who provides credit to a small business? A relative will often help, but what about the bank in town or a supplier that is separated by a continent? How can someone who doesn’t know you and has never met you determine your creditworthiness?

These companies would do exactly what you would do: they go to a reputable credit risk management agency in order to get a credit report. Through a comprehensive small business credit report, these companies can learn about all aspects of your business including your financial condition, credit history, top management and other important information. All of this is determined by your small business credit score. This single number can tell a potential lender whether or not you are a good risk. Often this score is a number on a scale, but can include alphabet letters. This score allows banks, lenders, suppliers or other creditors to determine whether or not you are likely to pay your bills on time.

Getting a Good Score

While the small business credit score may seem like a simple number, it is actually a complex statistical model that determines the credit risk for a company. A credit risk management agency comes up with the score from data that they collect through a wide number of sources. The information is determined to be accurate by crosschecking and filtering the data into an easy-to-read format. There is no specific way that you can improve your score, but you can make sure your report accurately reflects the best possible score for your business.

First, you want to make sure all your loan payments are made on time. The biggest factor that influences your credit score is to calculate your payment history with previous creditors. Second, you need to regularly check on the status of your credit report. You want to make sure that the information in the report is up-to-date and accurate. Negative information can’t be removed, but mistakes can be corrected. Lastly, credit risk management companies gain data from trade companies. Not all creditors report trade information, but it helps to have credit with companies that do report trades.

Keep in mind that your business credit score is going to change over time. When you keep up-to-date on your credit score then you can be sure you are one step ahead of the competition.

While in Divorce Proceedings, You Need To Protect Your Financial Circumstances

You will find hardly any instances when breakup is easy. It really is challenging to break up a union in which a married couple cared sincerely enough for each other to go into the bonds of marriage. It really is hard to imagine exactly what could cause two persons to intend to terminate that partnership. It really is challenging, tense and sad to observe this occurring. Any time 2 people get married, they go into a lawful marriage. For that reason, whenever they separate or divorce it also must be completed with legal information. There exists a good deal to take into account with a divorce or separation – especially when there may be kids included. Finances can be complicated. Nobody wants to become hurt and neither one desires the other to take advantage of them. It could end up being a really challenging problem.

If you are intending for a divorce or separation, then you will need Professional Divorce financial advice. It will likely be fundamental to Protect your interests before, during and after your divorce. There are many financial scenarios to be regarded throughout a breakup. Real estate property must be broken down. There are many assets which a husband and wife can easily gather over time. They’re going to fall under careful scrutiny in a divorce or separation settlement deal. Both young couples will benefit via Divorce Advice. A Certified Divorce Financial Analyst must be called in to talk about most financial situation and remember to consider potential monetary predictions. They are going to analyze your situation and come up with a settlement deal that is reasonable by all parties.

Separation and divorce is demanding. It may get complicated. It can be doubtful for you to ever be uncomplicated but a competent legal professional with a wide range of practical experience in the field will surely support. A divorce changes lives. You don’t want to go into the next point of life with no choices. You’ll want to guard your interests for the present and also for the long run. You do not need for being taken advantage of. It may look like just like you are mean by contacting a legal professional and heading by way of this process, but it is not. You have to guard yourself – not simply for now as well as the long term also. Permit a separation and divorce legal professional provde the defense you will need for you personally next period. Separation and divorce is tough enough. Really do not let it get worse by not looking for an law firm and giving up safety for the future.

Short Course on Guides – What You Should Know

Six Fundamental Principles of Economics Learning economics gives people a better understanding of the economic and financial realities around them, improving their ability to save, invest, produce, consume, and even vote. These key principles are true to all areas of economics, but could be applied uniquely, depending on the specific circumstances. Here are the six basic principles of economics: 1. Scarcity forces people to make choices.
Lessons Learned About Guides
According to economists, scarcity is innate in the world we live in. With this, they mean that available useful resources will never be sufficient for people’s desires and necessities. Hence, they always need to select from competing choices. For example, they have to decide whether to spend all of their scarce income or save some for the rainy days.
The Path To Finding Better Resources
2. Every choice comes with an opportunity cost. Each time a consumer or producer or an investor or saver decides, an alternative action is always available. Economists refer to the forgone choice as the opportunity cost of a decision. In decision-making, the value of the opportunity cost should be taken into account. To illustrate, when a person decides to save $100 of his after-tax income, he is giving up goods and services worth that amount, and that is the opportunity cost of his decision to save. 3. The response of people to incentives is predictable. An incentive is something that affects the choices people make. If there’s a change in incentives, people’s actions are also likely to change in predictable ways. For instance, a rise in real interest rates offers the incentive to save more and spend less. 4. People’s choices are shaped or affected by market forces and economic systems. People’s financial decisions are made within the framework of an economic system. In particular, the type of economic system – command, market, traditional or any combination – plays a huge part in the choices they make. As an example, people in a strict command economy, such as in North Korea, where majority of properties are government-owned and controlled, people do not have the liberty to make stock market investments. 5. People’s choices lead to intended and unintended future consequences. According to economic experts, the costs and benefits of our decisions – intentional or unintentional – reveal themselves in the future, as this is the only time we can influence or affect. For example, a government may put a cap on gasoline prices to help consumers; however, this can lead to the unintended result of black markets, long lines at the pump, etc. 6. People gain from trading voluntarily. People do not make all the goods and services they need. Sometimes, they make less products and services and then exchange them with others as a way to satisfy their economic desires or necessities. A person who works for a company, for instance, gains from his salary and employment benefits; in turn, the company also gains from the work he provides.