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Urijah Faber’s A1 Combat Expands Into Southern California

Los Angeles, CA September 25, 2022 --(PR.com)-- UFC Hall of Famer turned promoter Urijah Faber has steered his new promotion Urijah Faber’s A1 Combat into the Southern California market. Their first LA show, Urijah Faber’s A1 Combat 6 Talbott VS Jimenez is scheduled for Saturday October 22 at the Commerce Casino.
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Scotiabank

Scotiabank Supporting Urgent Relief Efforts in Eastern Canada with Donation to the Canadian Red Cross

Sitka Music Festival Presents Simply Three as Part of Alaska Airlines’ Autumn Classics

Anchorage, AK September 25, 2022 --(PR.com)-- The Sitka Music Festival will present the second week of Alaska Airlines’ Autumn Classics beginning September 28, in Sitka, and finishing on October 2, in Anchorage. Artistic Director, Zuill Bailey has programmed a wide variety of music ranging from Beethoven to Bastille. The group, Simply Three who has warmed the hearts of almost 1.5 million YouTube subscribers will appear on September 28 in Sitka and October 1 in Anchorage. The group will shred strings playing covers of Avicii, Bastille, Adele, Coldplay, The Beatles, Journey and more.
www.sitkamusicfestival.org and www.sitkamusicfestival.org/simplythree. Anchorage tickets are also available by calling CenterTix at 907-263-2787
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The Collaborative Leader, 4 Talents for a Better Business

Sylva, NC September 25, 2022 --(PR.com)-- Ron Robinson has run businesses and traveled the globe, assisting leaders to create cultures of involvement for higher levels of performance. His book, "A Business of Leaders," keynote addresses and seminars are focused on helping leaders and managers create better businesses with happy and productive people.
www.ronspeaking.com
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Angelo Babb explains how to get the most out of your cryptocurrency investments

Investing in cryptocurrencies or any other financial market is no joke. As a beginner or even as an experienced player, you will need to consider several factors and take into account various crypto investment tips and tricks to maximize your profits and minimize risk. Angelo Babb, a cryptocurrency expert, provides insight into how to make this possible.


Before investing in cryptocurrency, you need to do some research. We all know that cryptocurrency is a complex and new concept. Most people don't even have an idea of what it is. There are many types of coins available, including Metaverse coins and Alt Coins as well as Stable Coins.


Each cryptocurrency also has support from fiat currencies and technologies. USDC, for example, is a stablecoin that can be pegged to the US Dollar. Metaverse tokens, on the other hand are the currency people use on Metaverse.


You can also analyze trends in cryptocurrency over the past year to gain a better understanding of its behavior during key events. This information will allow you to become more familiarized with cryptocurrency and maximize your return on investment.


It is important to start small when investing in cryptocurrency. It is highly recommended that you don't invest all of your money in the beginning. If you are planning to invest $10,000 per monthly, split that amount into five equal $2,000 packages. Track the crypto's movement by inverting the first packet.


If that cryptocurrency's price falls further, you can invest in the second package - 2000 AED. Continue to the fifth package. This does not mean that you have to invest in just one crypto currency. If you feel they are promising, you can invest in other cryptocurrency. The bottom line is to always start small, and then gradually increase your investment as you gain more experience.


When investing in cryptocurrency, the next thing you should do is choose the right currency. There are more than 8,000 cryptocurrency. Babb says that it is nearly impossible to track and identify each cryptocurrency individually. It is best to gather information about the best cryptocurrency investments or high-return cryptocurrencies. You can visit websites and cryptocurrency exchanges to find out more.


It is also a good idea to invest in cryptocurrencies with a large market or low volatility such as Bitcoin (BTC), Matic(XRP), Cardano [ADA] and others. We recommend that beginners invest in stables rather than random cryptocurrencies.


Partially profit booking is a popular method for experienced investors. This is one of the profit reserve strategies. It aims to protect investments, and ensure profits are not lost due a sudden reversal in coin/cryptocurrency price.


This strategy has many advantages. It protects your trading capital and reduces risk. You can also reinvest the money that you have earned from selling the first slot of cryptocurrency. A partial profit strategy is a great way to maximize your crypto returns.


Remember, when you invest in cryptocurrencies, you often see high volatility. Cryptocurrencies are a very volatile market for a variety of reasons, including the fact that they are still in their infancy, volatile or upcoming crypto regulations, the sentiment of cryptocurrency investors and users, and much more.


In fact, right now, you'd be better off investing your efforts in researching the reasons for the market crash or getting an idea of some key factors that contributed to market volatility, how flows. This will not only familiarize you with the cryptocurrency industry, but also prepare you to face similar situations in the future.


The sixth tip for maximizing the return on cryptocurrency investment is to always hold some capital in reserve. By emergency funds, we mean an amount of money set aside to invest at a time when prices are low. Don't invest all your capital at once.


Adds Babb, “During such a recession, if you have a reserve fund to invest in, you can use that fund at that time to buy cryptocurrencies at very low rates. This will also help you hedge or reduce the risk.”


Market Timing is a trading method in which investors buy or sell crypto assets by predicting future market price swings through technical analysis. In other words, it is common practice to enter the market at the most advantageous times and avoid the most disastrous moments.


The strategy makes this an attempt to buy cryptocurrencies at low prices, sell them at a higher price, and make a profit, a fairly basic concept that every trader has in mind. However, the problem with market timing is that no investor can get it right all the time.


Even if some of your calculations, technical analysis or predictions go wrong, you will incur a significant loss, and as a result, your entire portfolio will be affected. For this reason, as a beginner, you should avoid timing the market. Rather, trade based on the fundamentals and performance of cryptocurrencies.


Cryptocurrency values can fluctuate between 20% and 30% in an hour or you can see large movements in the market due to their highly volatile nature. As a result, it is imperative to limit the risk. One such approach to limiting the investor's loss is to use a loss limitation order. In simple words, a loss limit order is an order placed on a cryptocurrency exchange to buy or sell a specific cryptocurrency once it reaches a certain price.


Always choose the platform that provides the best combination of all these qualities. Also, start your crypto trading journey with a small investment, learn about essential market terms and trends, diversify your portfolio, and focus on the partial profit reserve on targets.


About Angelo Babb


Angelo Babb is a legal cryptocurrency and blockchain consultant who helps new and established organizations strengthen their interaction with digital assets. A certified lawyer and Scrum Master, he works with all categories of enterprises to ensure cryptocurrency endeavors substantially fulfill their obligations. When he's not reinforcing his education in the cryptocurrency and blockchain spaces, Babb enjoys relaxing on the beach with his family.

— WebWireID294555 —

Allen Woo explains the concept of life design and how it leads to innovation

People are facing an era of unprecedented change. In recent years, many have experienced profound disruptions and alterations in the way they communicate and relate, the way they work, the way they learn, family and social structures, the use of technology and even the role of spirituality in everyday life. These disruptions can be overcome, and Allen Woo, an expert in personal development, discusses how innovation is achieved through life design.  


All of this change has had an impact on the way many people feel and think and, therefore, on their deepest beliefs and values. Faced with this situation, it is necessary to develop new capabilities, modify the DNA, transform, and reinvent oneself to face the current situation without forgetting the ultimate desire of all human beings to achieve well-being and happiness.


“Personal innovation is an individual process of improvement, change or transformation with the goal of achieving your challenges and life purpose,” explains Woo. “The well-being of individuals in their personal and professional lives is the guiding, ultimate end of a personal innovation process.”


Each person leads their own transformation plan that leads them to acquire new capabilities, implement new habits, reprogram the way they see and feel about life, manage themselves emotionally and relate to others. In short, to reinvent themselves as a person. Personal innovation goes beyond the development of professional skills that help us to be more productive. It is more related to the search for meaning in our lives and the implementation of our character strengths. 


There are currently two trends that are increasingly gaining momentum in the field of personal development. On the one hand, “Life Design” and on the other, the so-called “Science of Happiness.” All those who work accompanying others in their personal development and growth know the importance of being up to date with the latest disciplines that can enhance the results of the people they work with.


Life Design implements the use of innovation methodologies and philosophies and, in particular, Design Thinking for personal change. Design Thinking is a design thinking methodology applied to innovation and change challenges. This methodology for life design is being used with great success at Stanford University in their “Designing your Life” program and has become the most popular course at Stanford University.


As for the “Science of Happiness,” it has become one of the most robust disciplines for developing personal and organizational well-being. The “Science of Happiness” has its origins in positive psychology, with referents such as Dr. Seligman or Dr. Diener, among others.


“Dare, be curious and experiment. Human beings, like all living beings, are true natural platforms for innovation,” Woo states. “It is clear that some people are more adaptable, more open to change, more open to new ideas, and more creative than others. But the truth is that we all have the fundamental ability to be innovative and that we can all grow professionally.”


This does not mean that innovation is easy (it takes time and effort). Still, it does mean that many people are able to approach innovation in a natural and relaxed way, and that people are fully capable of enjoying themselves while innovating. Overcome the fear of failure and making mistakes. Don't become obsessed with getting everything perfect the first time. Consider that your decisions are temporary and that you will come back to them later.


Be tolerant of your failures. Leave “risk management” to the banks. There is no greater risk today than standing by and watching others decide your life. Remember that if you don't have a personal agenda, you are likely to be part of someone else's agenda.


About Allen Woo


Allen Woo is a self-taught expert in business and personnel management. Originally from Canada, he has spent much of his adult life honing his innate skills in motivation and personal growth. Woo dedicates his time to helping businesses and individuals make significant improvements in their daily interactions, constantly exploring new methods to motivate and enhance teams. When he's away from responsibilities, he likes to focus on inner growth and enjoys outdoor activities that exercise the body and the mind.

— WebWireID294553 —

Kimberly Rosales explains how the blockchain leads to financial innovation

The blockchain is a new reality that promises to change forever the way the financial and digital system is managed. This technology allows the transfer of data and capital in a completely secure way thanks to sophisticated coding and encryption. Aware of the change that this disruption can have on the financial world, Kimberly Rosales, cryptography expert, explains how blockchain gives an innovative aspect to the financial ecosystem.


You may have heard this term and still not know what it means, nor the impact it could have on your life. As happened with the incursion of the Internet, blockchain could change the way many relate to the digital world of banking. 


This favors, among other aspects, transactions, security or management of the online entity. In addition, it allows a reduction of the bureaucracy required in financial operations and improves transparency.


“The blockchain is a technology that makes it possible to create networks of devices without the need for a central and localized server to connect them to each other,” explains Rosales. “You could say it works like a ledger, where buying, selling or any transaction is recorded.” 


For these movements to be recorded, they must have been approved by the rest of the participants in the 'block' network, in other words, the users of this technology. And, once the information is entered into them, it can no longer be deleted. Only new records can be added.


One of the advantages of this tool is that it offers the possibility of carrying out economic transactions quickly and securely against possible fraud and manipulation, since it uses encryption and encoding. This allows companies to offer a more global payment alternative to customers, without jeopardizing the security of both parties.


Another great benefit it offers is the possibility of implementing a totally transparent business system in which everyone can see the status of the accounts registered in “this big book,” or more simply, what comes in and what goes out in real time and at a low cost. But the blockchain does not only work for economic transactions. 


“With this technology, important company documents and information can be stored and transferred without the possibility of anyone being able to access it without your consent,” asserts Rosales. “And what is more important: without the danger of it being modified. To guarantee the security and transparency of the vote, many companies use this technology for voting at their General Shareholders' Meeting.”


Transactions are stored in a tamper-proof public repository registry organized in chronological blocks of strings. The tokens will represent trading assets so that all participating users or traders have access to the public blockchain. Consequently, blockchain technology enables autonomous project execution, immutable records and transparency of trading rules while enabling superior automation potential.


Blockchain has significant implications for future financial transactions. Information silos and excessive waiting times are gone. Transactions are cheaper and more efficient. Transaction risks are reduced because asset provenance, credit history, and other immutable elements of the record are inextricable. Lines of sight also lengthen.


“Trading is assured as it will be easier to verify and authenticate that each trading partner is complying with their respective end of an agreement. Since audit trails are cryptographically stored and readily available, complex dispute processes become simpler. Smart contracts carry out binding agreements and negotiate in real time. DLT makes compliance possible and easier,” Rosales states. 


Therefore, financial institutions, regulators and key stakeholders in different industries are comfortable with the emerging infrastructure. Regulators, with distributed ledger technology, can access the shared trading and depository, and assist with the data they exchange and need.


About Kimberly Rosales


Kimberly Rosales is an entrepreneur and tech aficionado who, early on, understood the full capabilities cryptocurrency could offer. She founded ChainMyne, a FINTRAC-registered company, in 2020 as a means to offer an easier method for accessing digital currency, as well as to empower cryptocurrency holders. While the majority of her time is occupied by ensuring her business ventures constantly run smoothly, when she does have some free time, she enjoys spending time with her family and exploring new locations.

— WebWireID294552 —

Ann Marie Puig provides insight into how businesses can efficiently increase sales

Increasing sales productivity is always a priority. It is a key factor in the success and overall health of a business. The art of improving sales productivity focuses on having efficient sales reps with their time. The more productive a rep is, the better sales and connections with customers and potential customers will go. Cultivating those relationships is important for a company's longevity. Ann Marie Puig, a global business consultant and strategist, explains how businesses can improve their sales channels to meet or exceed their goals.


The core business line of a company is sales. To maximize revenue and sell as many products as possible, the ultimate goal should be to do so in the fastest time. This guide can be used by managers and reps to improve sales productivity and help them reach their goal faster.


Puig explains, “Tracking how much time you spend with customers, sending emails and planning meetings can help you gain insight into your sales productivity. You want to be able to see the time that you are actually selling as a rep. Managers should keep track of time to see what reps are doing and how they can improve their productivity.


Your team will be successful if you provide effective sales training. Properly training your team will reduce the time it takes for a new employee to adapt and increase their productivity. It is important to provide sales training that is comprehensive and covers enough detail for reps to use.


Employee productivity can be increased by scheduling weekly or monthly meetings. One-on-one meetings with employees are a great way to get to know your employees. This is particularly useful for employees still in training.


This is a great time to motivate your employees and to identify areas that can be improved. You can also get feedback about how you can be more productive. You will have employees feel heard and can also get valuable feedback and ideas from them.


Companies will experience a significant increase of sales productivity if marketing and sales work together. Marketing and sales may not communicate well, which could lead to a decrease in revenue.


Your sales and marketing staff should be encouraged to collaborate as they can both benefit from each other's efforts. It is the job of the sales team to decide which leads are worth their time. The quality of leads is more important than the quantity.


This is where the marketing team must ensure they are attracting these types of leads. To close more deals, it is important for the two teams to work together.


It is important to have good sales tools for your company in order to maximize productivity. Sales tools allow reps to track their data, organize it and sell more. They are vital for managers as they allow them to better measure rep performance. CRMs, communication apps and route planning apps are great tools for keeping track of your reps' work.


Adds Puig, ”It is good to track the progress that representatives have with customers and potential customers, the time spent on the sale, closed offers, etc., as well as understand each of the sales processes. All this will help you increase sales productivity."


As a sales rep, setting goals should be a great form of motivation. Setting short- and long-term goals will help you stay on top of your job and increase sales productivity. Sometimes work can be a bit stressful and having goals helps you maintain the right sense. It also forces you to be more responsible. Once the goals are met, you will have a great feeling of accomplishment and fulfillment.


Using sales tools as a rep can help you greatly increase productivity. Using tools such as CRM, communication tools, and route planning can greatly increase productivity. Finding a CRM that works for you and your company can help you stay organized.


CRMs allow you to track your customers and data in one place. A CRM can help you automate tasks and stay on top of administrative work. With less administrative work to take care of, you'll be able to focus more time on selling.


Communication tools are very important to stay in touch with customers and managers and establish strong relationships with all customers. You'll be able to contact everyone on the go and make sure you're always up and running from anywhere.


In addition, sales tools, such as route optimization systems, can help you be more efficient while you're in the field. Using routing systems helps you plan better and be more productive.


About Ann Marie Puig


Ann Marie Puig is a business consultancy expert. She is bilingual in Spanish and English and provides reliable and expert business consultancy services based on years of experience. She is extremely knowledgeable in current technology, eCommerce, and a variety of industries. As a result, her clients are able to trust her to offer a more personal service. When she's not actively consulting for a business, she dedicates her time to her family and community.

— WebWireID294551 —

JD Duarte explains how to make an eCommerce platform operate efficiently

Society is changing its consumption habits and how it acquires goods and services. In parallel, companies adapt their marketing and distribution processes to new market dynamics. Having teams trained to manage eCommerce platforms and applications is a differential added value for companies. JD Duarte, a lifelong entrepreneur and eCommerce expert from Costa Rica, breaks down how businesses can make this possible.


93.5% of regular Internet users – approximately 60% of the world's population – have already made online purchases. This highlights that one of the main reasons for this behavior lies in being able to do it at any time of the day and from the tranquility of their homes.


Since the pandemic, the possibility of maintaining social distancing is another reason that led people to lean towards eCommerce platforms when making their purchases. Although we must also take into account the aggressive promotions and discounts offered by many brands to those who acquire products and services in this way.


Explains Duarte, “The present nature of eCommerce is promising, especially in Argentina, where the highest growth in penetration was registered during 2020 globally, with an annual increase of 79% and an average daily turnover of $89.2 million.”


Looking ahead, the prospect of online sales growth is anticipated to be exponential. According to Nasdaq, by 2040, 95% of all purchases will be made on the Internet.


At a professional level, digital marketing and the development of customer experiences stand out among the five jobs with the highest demand linked to the digital field. While online customer service and the implementation of eCommerce platforms are among the 12 professions and trades that are most adapted to work in home office mode.


The first fundamental step is to have a deep knowledge of the context in which you are operating. This allows businesses to determine whether the products or services being offered are in actual demand online, see how competitors are operating, update knowledge about the sector, observe the consumption habits of potential customers and know what the objective reality of the market is.


These analyses improve a company's flexibility and transformation capacity, allowing it to adapt more quickly to changes. They also give them the opportunity to improve the company's ability to react to competitive actions, shield its market share and detect new business opportunities.


Taking into account the real investment possibilities, the type of business and the products or services that will be offered online, the characteristics of potential customers and their consumption habits, and the commercial prospects in the short and medium term, a decision must be made related to the way in which the online sales processes of a brand will be developed.


eCommerce platforms should also choose a hosting company that guarantees a good connection speed to achieve a good positioning in search engines, and that offers enough space to promote products or services. This is an indispensable aspect in this type of project, at least to have the company's website online, beyond the fact that eventually, the eCommerce platform used is hosted on the provider's servers.


When entering an online store, the customer should get a great experience, which starts with an easy and comfortable site to navigate. Users should be able to easily access a product catalog that is well presented and with detailed information. It is also important that they can find what they are looking for in a simple way, and incorporate images and videos to increase conversion.


Customer service, meanwhile, is one of the fundamental aspects linked to a positive shopping experience. Its proper management will allow solving problems in a faster and more consistent way, preventing them from growing in magnitude, and generate satisfaction in the consumer, loyalty.


Personalization is another aspect of maximum relevance. Adds Duarte, “The incorporation of artificial intelligence and machine learning to eCommerce platforms allows to anticipate the needs of consumers and know their tastes, preferences and needs, in real time.”


Inventory management means that the products offered must be ready and in stock for distribution, as soon as a purchase order is received, with a contingency plan in place in case problems arise during the process.


In this regard, the specialist recommends having a centralized inventory, with guaranteed minimum stock levels and a strategy that focuses on getting the oldest products (first to enter) to have sales priority (be the first to leave).


It should also have demand and contingency plans, and establish a prioritization of products to keep costs down, by identifying which should be requested more frequently due to the level of sales they generate.


Finally, consider implementing dropshipping. Instead of carrying the inventory to the retail company that markets certain products, the manufacturer retains and delivers said inventory to the end customer, eliminating costs to the retailer.


About Jose Daniel Duarte


JD Duarte is originally from Heredia, Costa Rica. He has been an entrepreneur and business owner for more than 20 years, and divides his time between his existing operations and researching new possibilities in which to invest. When he's not dedicating time to his businesses, he spends time with his supporting wife and two children.

— WebWireID294550 —

Jorge Zuñiga Blanco explains how to create an efficient product development process

Creating an efficient product development process is essential to bring your idea to life and put it front of customers. However, it is not enough to have a great idea. It is also crucial to put it into practice in the right way, going through the different development steps and marketing it properly. Jorge Zuñiga Blanco, an entrepreneur and business strategy expert from Costa Rica, discusses the seven important stages of the product development process.


The development of new products is the whole operation that brings to the market the service or product that is in mind, making it available to customers. This is also the perfect time to take advantage of the various tools for product managers to make everything go smoothly.


It's also time to consider how you're going to pay for the whole process and whether you need to start looking for investors. If, in the end, someone invests in your idea, it is necessary to reach an agreement with the investor.


Although having an efficient product development process is essential to bring the final product to market, there are some more complex aspects that must also be taken into account. Explains Zuñiga, “Apple failed several times before getting and marketing the right product. They are the perfect model and tried to get good products, but a failure in the product development process meant that they did not reach the market immediately.”


This trend continued until they created the wildly successful iPhone, iPad and MacBook Pro. They all followed an efficient product development process and strategy.


The different stages of the product development process are very important and must all be taken into account. Obviously, every stage of a product development process will take your idea from the head to the desk and to the market, and planning everything in detail is essential to get there.


Idea generation is the first step in the process of developing a product and should be taken seriously. It is the process of creating and developing the product concept that you have in mind.


While it's essential to the concrete project you want to develop, it can also help you come up with concepts for other products. In addition, it is important to note that during this first part of the process, companies usually have many different ideas that can be beneficial and essential for a company to update its product catalog.


The screening of ideas is the second phase, which is fundamental in the entire product development process and will undoubtedly help define whether the idea is worth developing, in terms of costs and benefits. In fact, creating a product and getting it to market is not cheap and requires a lot of research and experience.


As a company, one of its main objectives is to create ideas that deserve to be produced and that allow it to obtain the initial benefit that it had in mind. It is essential to give great importance to the potential benefit that the product will bring to the company, and that is why the detection of ideas is essential for an effective product development process.


Developing a product, and testing it, allows you to test the ground, see if it reaches the number of customers you want, and finally, understand if your product has a place in the market. Secondly, you will want to create various concepts and try them all out.


Adds Zuñiga, “As a company, developing and testing these different concepts will help you determine which concept people like the most and buy it. Your ultimate goal is to find the product that your audience will find interesting and testing the concept before marketing it will allow you to modify the end result.”


Marketing is one of the most important activities of a company and is no exception when developing a new product. Creating a business strategy involves not only advertising, but also general marketing around your product, brand building, building trust, and much more.


To begin with, and this is extremely important for any marketing strategy, you will have to analyze the competition and see what works for them. For example, if you're creating a life-changing fridge, you'll want to see why competitors' flagships work so well, what they bring to customers, and analyze their marketing strategies.


Apart from that, you will have to continue to calculate the final costs of your product, which will include development, price and profit, making sure to be in line with your break-even point. Developing a working business and marketing strategy will be the turning point of the entire product development process.


Your product development is the light in the tunnel, where you will see the initial results. Not many ideas end up beocming products, and an efficient product development process has contributed to their commercialization.


In fact, an investigation by the Marketing Research Association shared that only 40% of the products developed end up being marketed. Of this 40%, only 60% will generate income. So getting this far is great, but working on ongoing strategies and marketing is just as important.


Merchandising is the stage where you can finally see your product for sale, being marketed with your competition's products, and having your chance to position yourself among the best items in your category. Therefore, it is essential to involve the right elements throughout the process and increase your profit until the launch of the final product.


About Jorge Zuñiga Blanco


Jorge Zuñiga Blanco is a leading eCommerce expert who has provided his services to growing organizations throughout the world. He has a diverse background of industries to his credit, giving him the ability to relate and contribute to business owners in a variety of markets. He has more than 20 years in the eCommerce industry and, for the past nine, has dedicated his expertise and knowledge to helping executives and managers develop their business.

— WebWireID294548 —

Randall Castillo Ortega explains the importance of the Internet for export companies

In the past, it was very difficult for a company that was not a large multinational to have the opportunity to sell its products to other countries. Exporting was a big deal. However, today, thanks to new technologies, any company (regardless of its size) has the possibility to export to international markets. The Internet makes it easy, and Randall Castillo Ortega, a global trade expert, provides insight into why.


The Internet has changed everything. It is a wonderful platform that introduces us to other markets easily and without assuming large costs. Therefore, we could say that the Internet has become a great showcase that shows the characteristics of any product and/or service on a global scale.


Even today, many SMEs (small and medium-sized enterprises) are afraid to dare with this new type of business. However, there are many advantages offered by eCommerce. Among the most profitable, it is important to highlight the enormous reduction of costs in logistics and the enormous expansion of the company, which with just one click, can reach geographical areas where it was previously unthinkable to become visible.


Every day more companies decide to invest in international trade. Explains Castillo, “Although it requires a small initial investment, exporting is a unique opportunity to expand; and expanding is always associated with new sales and new customers.”


When an SME decides to start in the world of export, it is important that the decision has been made and agreed upon by management. Many times, the firmness and determination with which these types of decisions are made are key to achieving the desired results.


In addition, when an SME decides to embark on this new challenge, it is important to help it make a good choice of the most suitable and related countries for its product. Some of the aspects that must be taken into account when making this selection are the official language of the country to which we want to export, the distance between the countries, the time difference with respect to the producing country and the similarities and differences between the legislations and regulations that regulate the process of purchase and sale in the different countries.


It is also essential that you invest in good promotional material. Today's digital tools allow us to be up to date. Most customers will search for you through Google. That's why your website is so important. Do not forget that having an impressive website, of good quality and hosted on a good server will be your best cover letter. In addition, you can take advantage of the arrival of WhatsApp Web to communicate with your customers, share content and use it as a marketing tool. The importance of new technologies in export is unquestionable.


The use of tablets to show your digital catalogs or the emergence of videoconferencing as the main system of communication and customer service are clear examples of the power of new information technology.


Also, apart from investing in technology, if you are thinking of starting in the world of export, it is convenient that you advise yourself well. Surround yourself with good professionals who monitor and guide you throughout the process.


“If you are not familiar with the destination market or do not know how export logistics work in a certain country,” adds Castillo, “you can make very serious mistakes that have no turning back. For this reason, before starting the export process, it is advisable to have the help of export specialists. Good advice will allow you to minimize the risks and avoid possible capital losses that may occur due to ignorance of the sector or poor management.”


However, you don't have to be afraid to go outside. Companies must export and internationalization, without a doubt, is the perfect antidote to combat new economic recessions.


About Randall Castillo Ortega


Randall Castillo Ortega has been involved in the financial space virtually his entire professional career. In addition to having founded the financial lending firm RACO, he is also an avid outdoorsman and, along with his family, is a huge community supporter. He regularly participates in community ceremonies and events organized to drive a better environment for children and families.

— WebWireID294546 —

TopDiag P200 or P100 Circuit Tester The all-in-one auto electrical power probe  for professionals and DIYers

RACO Investment founder Randall Castillo Ortega explains using financial analysis to make decisions

Financial analysis allows business owners to determine the current situation and future decision-making in the search to improve business performance. It uses the study of financial statements through different indicators to evaluate the profitability, liquidity, assets and liabilities of an organization. These items are important for the decision-making process. Randall Castillo Ortega, the founder of SME investor RACO Investment, details why this is true.


The fundamental purpose of accounting is to provide useful information about an economic entity, and to facilitate the decision-making of its different users (shareholders, creditors, investors, customers, administrators and government). Consequently, as accounting serves a set of users, various branches or subsystems originate. Based on the different information needs of different user segments, the total information that is generated in an economic entity for different users has been structured into three subsystems:


The financial reporting subsystem is composed of a number of elements, such as registration rules, accounting criteria, forms of presentation and more. This information subsystem is financial accounting, because it expresses in quantitative and monetary terms the transactions carried out by an entity as well as certain economic events that affect it, in order to provide useful and secure information to external users for their decision-making.


Accounting considers that every business must submit four basic reports. In this way, there is the income statement that reports on the profitability of the operation. It provides information about the liquidity of the business. That is, to present a list of the sources of cash and the disbursements of the same, which constitutes a basis for estimating future cash needs and their probable sources.


Explains Castillo, “Financial analysis is a key point at the end of the accounting cycle. This analysis is based on relative ratios or values. The analysis of reasons comprises two aspects, including the calculation and the interpretation, with the aim of trying to know the performance of the company.”


For users of the financial report, it is very important to know non-financial data of the company, since this allows them to expand the user's vision and understand in an analytical and logical way the behavior of the financial data that is presented in the annual report.


Financial analysis consists of the study of the information contained in the basic financial statements through indicators and methodologies fully accepted by the financial community, with the aim of having a more solid basis for decision-making.


Financial indicators are used to weigh and evaluate the results of the company's operations. Such indicators are the relationship of one figure to another within or between the financial statements of a company that allows one to weigh and evaluate the results of the company's operations.


“It is indisputable that accounts receivable are in relation to the sales made by a company,” adds Castillo, “since they are conditioned according to the period of credit granted to customers. The greater the number of times that credit sales represent accounts receivable.”


A variant of this financial reason is to use credit sales as a numerator, since these are directly related to accounts receivable from customers. However, this data is not usually presented in the financial reports of the companies and for practical purposes, the data of the net sales of the period is used. As with the acid test, for comparison purposes, the same criteria of financial analysis must be maintained.


Financial analysis is the method developed by which financial statements are used and the information is evaluated in such a way that the current state of a company can be determined. Through the study of the financial statements, it seeks to identify the deficiencies and potential problems of a company, and thus be able to take measures that can correct them. Not only does financial analysis allow us to evaluate current events, but it also gives us the possibility to make future decisions related to the management of a company and maximize its usefulness.


About RACO Investment 


RACO Investment is a financial investment firm serving small- and medium-sized companies in Panama and Costa Rica. It was founded by Randall Castillo Ortega, an expert financial adviser who has his roots in the import and export industry in Latin America. The firm has helped numerous startups find the financial support they needed to get off the ground, and has also contributed bridge loans to assist those looking to restructure or improve their operations.  

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