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6 Unique Business Plans to Help You Grow Financially

A successful business can maintain steady profit or bounce back from dwindling revenues, irrespective of the economic grounds. Therefore, you need a good company structure with solid planning and strategies to thrive in a business and increase your finances.

Most entrepreneurs go into different industries and invest vast amounts of capital, thinking their organizations will blow up with one or two ideas in no time. But when they get to graze the actual setting, they learn that it is not always about pre-business ideas as the market is dynamic and requires effective strategies.  

So, to achieve business success in a competitive industry, you must pull all available resources and create high-quality strategies for your enterprise. You can plan your marketing strategies according to the purpose of your business, leaving room for a change in the market whatsoever. For instance, a CBD company can create a marketing campaign onto the use of CBD products such as CBD vape pen to teach their customers the benefits of what they sell.

Below are six business plans that could help you to grow your business.

1. Define Your Business Aim

Every standard business has an ultimate mission and different goals to achieve at certain stages. Some of these goals are short-term, while others are long-term, depending on the company’s plan regarding a change in circumstances.

Every other department in an organization is subject to the company’s ultimate mission, and they work accordingly. The achievable purpose of an enterprise defines its hierarchy, putting qualified professionals in specific positions to help them flourish in moving an organization forward.  

2. Understand the Business Market Dynamics

The business market dynamics is one of the pillars of a company’s plan, as it helps you consider many things. Every business sells a product or service in the market, meaning that the business industry is customer-based, whether directly or with third-party involvement.

Since the market is the medium between a customer and a seller, it has some control over a business’s sales and revenue. The market can change, fluctuate, boost, and decrease based on the commodity a company is selling.

If a company places a product in the market and the odds are working against its favor, it can plan a new marketing strategy to bolster the sales of its commodity. That’s why every enterprise should always be prepared for market fluctuations and know how to maintain stability in whatever market phase.

3. Collate Customers’ Data

When working on business development, your clients are the main thread. Everything you intend to spell out concerning your products, services, and how you choose to go about your strategies should be connected to your customers. Before drafting a business plan, an entrepreneur needs to collate relevant data concerning the market, like the demand of customers, the target audience, the location of the company, etc.

With customer-based insights into the market, an organization can have an understanding of their potential customers and can offer products or services that are useful to them.

4. Create Result-Oriented Marketing Campaigns

Various businesses use numerous marketing campaigns to sell their products or services to a target audience. To plan a marketing campaign, you must consider what you intend to achieve and the resources required to complete your time goals.

Sometimes a marketing strategy may focus more on brand attention than sales, depending on the company’s directive. The marketing department in a company is responsible for coming up with marketing ideas that could be valuable to the organization at a particular time.

Most corporations use online resources to facilitate marketing campaigns, and sometimes they partner with influencers to gain popularity.

5. Plan Your Finances

Business finance includes the capital or investment for business development and the revenue for continuous company advancement. Every corporation must plan its finances before experimenting with any industry to avoid catastrophic losses.

If you invest massive capital on a project as an entrepreneur, would the market be favorable for your undertaking? Before allocating your company’s budget, you need to analyze certain financial factors like your sources of revenue, pricing, costs of goods sold, gross margin, operating costs, and profit margin.

Planning your finances as an entrepreneur allows you to work closely with investors and stakeholders who believe in your projects.

You can invest in crypto for great income in short span of time. Cryptocurrency has high volatility but it comes with high reward as well. If you are beginner in crypto, you can even start with small amount of investment for long term and earn handsome returns.

6. Develop Your Competitive Advantage

In a competitive industry, a business owner must find valuable ways to keep his company in the market. An enterprise’s competitive advantage is why customers prefer to buy its commodities over many standard options in a top need.

Every corporation should know its competitive advantage and use it to maintain relevance in an active industry. To obtain a competitive advantage over your top rivals in a similar industry, you should:

Research and discover new successful movements in the business industry that your competitors may not know.Know your strengths and build a solid business structure around them.Take advantage of the weaknesses of your rivals.

Conclusion

Being an entrepreneur and maintaining steady business growth is not a walk in the park, as you would make a lot of personal sacrifices. But if you consider the business strategies mentioned above, it would be easier to structure your company for success. Hence, understand your customers’ insights and solidify your competitive advantage while maintaining continual profit and business advancement.

References:

https://www.investopedia.com/articles/pf/08/make-money-in-business.asp

https://libguides.umgc.edu/c.php?g=970568&p=7014324

Celsius Network Repays Another $34M, BTC Liquidation Price Falls Below $3K

Celsius Network has repaid yet another $34.43 million of its debt to MakerDAO as the former blue-chip company tries to avert a total collapse.

This marks the second such repayment in less than 24 hours. Vault 25977, reportedly owned by Celsius, showed a series of payments starting June 14.
Its liquidation has dropped to $2,722. Earlier this week, the liquidation price stood at $8,838.57 when Celsius paid off a $50 million BTC loan.
Currently, the crypto lender has 21,962 wBTC as collateral and $41.2 million DAI debt positions.
CryptoPotato recently reported that the crypto lender had repaid $120 million to Maker.
The largest payment of $64 million was made on July 4, during which liquidation plunged to $4,966.99.
Additionally, the firm also paid a total of $67 million in debt to Aave and Compound on July 2.
The main objective of the loan repayments is to bring down the threshold at which it would be forcibly liquidated.
Celsius reportedly laid off around 150 employees a fortnight after halting withdrawals, among all other network services.
The beleaguered company received a rescue offer from its rival, Nexo. FTX also offered to bail the company out but later abandoned plans after allegedly detecting a “$2 billion hole” in Celsius’ finances.
Celsius then went on to hire financial giant Citigroup and Akin Gump Strauss Hauer & Feld LLP to help with financial restructuring while the lender assesses its options.

Bexplus Launches BTC Interest Wallet to Offer Passive Income for New Users

[PRESS RELEASE – Please Read Disclaimer]

Recently, the price of Bitcoin(BTC) has been fluctuating continuously. Since the big volatility is scary, we can take a break in a safe haven to enjoy passive income by holding at this time.Bexplus has launched ways to minimize your risk while multiplying your profits – a wallet with an annual interest rate up to 21%.

What Bexplus Interest Wallet Offers?

Independence: the wallet is independent of the trading account, so the deposits would not be used as margin, nor would it be influenced if your positions got liquidated. Transfer between trading account and wallet is instant.

High Security: the platform uses multiple signature access, and all funds transferred from cold storage to hot wallets are manually processed and require multiple staff to coordinate.

No Penalties for Early Withdrawal: withdrawal requests will be processed within a day, and no penalties for early withdrawal. If you withdraw your deposit on the tenth day of the month, you can still receive the interests generated within this period.

How is the Interest Calculated?

Bexplus’ interest wallet APY surpasses most competitors in the industry.

Example: You deposited 10 BTC and enjoy an annualized interest rate of 21%, then your monthly wallet revenue is (10*21%/365*30)=0.17260273BTC

About Bexplus

Bexplus Crypto Exchange is a leading crypto derivatives platform offering 100x leverage in BTC, ETH, XRP, ADA, and DOGE futures contracts. Accredited by the U.S. FinCEN MSB, Bexplus is trusted by over two million traders around the world.

Other Superiorities of Bexplus:

100x leverage is offered to maximize trading profits.
100% welcome bonus for every deposit.
No KYC requirement, registration with Email verification within a few minutes.
Demo account with 10 BTC for traders to get familiar with leverage trading.
Intuitive and full-featured App on Apple App Store and Google Play.
7/24 hours one-to-one service to solve your problems at any time.
Fast withdrawal without any time limit, and no deposit fee.
Copy Trading provided to allow superior traders to make profits for you.
Up to $5,000 Rewards to Welcome new users.

No matter if you are a beginner or skilled trader in the crypto futures market, it’s time for you to turn to Bexplus to make greater fortunes! Click here to join Bexplus and claim your interest rate now!

Bitcoin Approaches 2018 Like Drawdown, Why $20,000 Is A Crucial Level

Bitcoin has been moving sideways around its current levels with no clear direction on lower timeframes. The cryptocurrency has experienced its worst-selling pressure in years but has held firmly around its 2017 all-time high.

Related Reading | Crypto Trading Volumes In India Sink Due To Heavy Taxation, What’s Ahead?

At the time of writing, Bitcoin trades at $20,140 with a 4% profit in the last 24 hours. The general sentiment in the market has been turning more positive, as NewsBTC reported yesterday, as the Crypto Fear and Greed Index climbs back from Extreme Fear levels.

BTC moving sideways on the 4-hour chart. Source: BTCUSD Tradingview

According to Senior Commodity Strategist Mike McGlone, Bitcoin and the crypto market are near their 2018 drawdown levels. At that time, the nascent asset class experienced a similar bearish trend which pushed BTC’s price to a 75% loss from its ATH.

At that time, the $3,000 price point became a major bottom which saw a period of accumulation extending for multiple years. In 2020, when global markets were in turmoil due to the COVID-19 pandemic, BTC marked the bottom once more when near $3,000.

After that, the cryptocurrency began a new ascend into price discovery. This time macro-economic conditions are different, and Bitcoin could retest its yearly low of around $17,000, but McGlone suggests it has reached a point where long-term holders could profit in the second half of 2022:

(…) the Bloomberg Galaxy Crypto Index nearing a similar drawdown as the 2018 bottom and Bitcoin’s discount to its 50- and 100-week moving averages similar to past foundations, we see risk vs. reward tilting toward responsive investors in 2H.

Since its inception, BTC’s price has historically found a bottom around previous all-time highs. McGlone claims there are conditions for $20,000 to operate as this pivot support level in 2022 on the back of a decline in “risk measures” against the traditional market.

Bitcoin at $20,000 may be looked back upon like $2 in 2011, $200 in 2015 and $3,000 in 2018. Bitcoin and Ether risk measures are falling vs. equities and the potential for US regulation (Lummis-Gillibrand crypto plan) shows mainstream maturation.

Bitcoin Short Term Outlook Show Improvement?

On lower timeframes, Bitcoin has been able to stay above $20,000 despite the decline in traditional markets and the strength of the U.S. dollar. The U.S. currency is approaching a 20-year-old high as investors continue to de-risk amid current macroeconomic conditions.

Data from Material Indicators (MI) records around $20 million in bid orders for BTC’s price from $20,000 to $19,000. These levels should operate as support in case of further downside as BTC whales continue to accumulate.

BTC’s price with around $20 million in bid orders (yellow and red below the price). Source: Material Indicators

Related Reading | TA: Bitcoin Faces Another Rejection, Can Bulls Save The Day

Larger BTC investors have been buying into the cryptocurrency’s price action over the past week. Addresses with 100 to 100,000 BTC added 30,000 BTC over this period.

In the past week, addresses with 100 to 10,000 $BTC added roughly 30,000 #BTC to their holdings while 40,000 #Bitcoin were withdrawn from known #cryptocurrency exchange wallets. pic.twitter.com/vRC7cJYvbZ

— Ali Martinez (@ali_charts) July 4, 2022

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Spritz Finance Launches Direct Wallet Pay, Allowing Users to Pay Real-World Bills With USDC

[PRESS RELEASE – Greenwich, Connecticut, 5th July 2022]

Spritz will enable its customers to seamlessly link their credit cards, mortgage, student loans and more monthly expenses directly to their crypto wallet and make payments in USDC on the Polygon network
Spritz Finance, a Web3 bill pay platform for decentralized finance (DeFi) users to easily pay their bills with crypto, announced today a new product feature allowing customers to directly pay their bills straight from crypto wallets, such as Metamask, using USD Coin (USDC). The feature is available now for Spritz private beta users active on the Polygon Network.

Spritz Founder and CEO Chris Sheehan said the new feature will further support the company’s goal of bridging decentralized and traditional finance.

“Our Direct Wallet Pay release helps us bridge TradFi to DeFi in the most straightforward way possible, by leveraging the world’s top crypto wallets and stablecoins like USDC together,” he said. “This brings us one step closer to our vision of connecting every smart contract and crypto wallet to real-world utility, and bringing web3 personal finance to more people with less complexity.”

Circle’s USDC is a leading dollar digital currency that has become a mainstay in DeFi and crypto capital markets, with more than $56 billion USDC in circulation as of June 30, 2022.

Spritz’s Direct Wallet Pay feature enables users to leverage their USDC holdings and pay monthly bills, such as credit cards, utilities, home payments, and more, with a trusted dollar digital currency, rather than converting to fiat and off ramping to a bank.

Crypto holders and DeFi users on Polygon with US bill pay accounts are encouraged to join the Spritz waitlist by visiting spritz.finance, where they can request private beta access and join the Spritz beta community.

About Spritz Finance

Spritz Finance enables bill-pay directly from crypto wallets and DeFi protocols — with no bank required — on a path to eventually connecting every smart contract and every traditional use-of-funds in the entire world: from mortgage payments and credit cards to monthly utility bills and student loans. Through the company’s first product, customers can schedule their bill payments from their crypto wallets without ever needing to unwind their positions or offramp through a bank. The company is currently in closed beta with a waitlist, which can be joined from the Spritz website. https://spritz.finance.

What Does the US FinCEN License Mean for Huobi?

Huobi’s subsidiary, HBIT, has received a license from the US Financial Crimes Enforcement Bureau’s (FinCEN) Money Services Business Registration (MSB). This will help the cryptocurrency exchange to conduct digital currency-related business in the US in the future.

Huobi’s US Push

The Chinese cryptocurrency exchange attempted to enter the US market in 2018 but withdrew immediately. Barely one year after setting up its business in the country, Huobi ceased operations.

During that time, Huobi promised that it would return to the market in a “more integrated and impactful fashion.” According to one of the company’s co-founders Du Jun, Huobi lacked “a strong commitment to the market” as well as “a good management team.”

Huobi believes the FinCEN license would create a foundation for it to carry out operations in the US. The MSB license would allow the exchange’s brokerage business of Huobi Technology to carry out the foreign exchange (Dealer in Foreign Exchange) and money transfer (Money Transmitter) operations throughout the country.

As per CoinGecko, Huobi is one of the top 10 biggest cryptocurrency exchanges by trading volume globally. US entry would put the company in competition with the likes of Coinbase.

“In the future, Huobi Technology is expected to further provide users in the United States with safe and compliant digital asset services and consolidate the momentum of international business expansion.”

Global Expansion

The US push comes at a time when Huobi was reported to be struggling amidst the market downturn. Rumors about potential downsizing emerged in June as the exchange recorded a steep decline in revenue.

The removal of all Chinese users was touted to be one of the key reasons. It is important to note that Huobi had retired all the existing Chinese users’ accounts by the end of 2021 and relocated its Asian headquarter to Singapore.

Losing out on Chinese users cost 30% of revenue for the exchange but also gave an impetus for global expansion, the US being one of the main venues.

Additionally, Huobi Group scored the Innovation License under the Dubai International Financial Centre (DIFC) last month. While the DIFC is not a trading license, it would unlock several doors for the exchange in terms of access to the local tech ecosystem and preferential treatment for technology research and developments, capital repatriation, and taxes.

Huobi has also secured a new license from New Zealand’s Financial Services Provider Register (FSPR) to provide its crypto trading services in the country.

First African country to use Bitcoin is developing its own digital currency- Sango Coin

According to the leader of the country, the Central African Republic, which made Bitcoin legal cash in April, is getting ready to launch its own digital currency as part of a drive to grow its financial sector.

“Sango Coin will be the currency for the next generation,” According to the leader of the country, the Central African Republic, which made Bitcoin legal cash in April, is getting ready to launch its own digital currency as part of a drive to grow its financial sector.

However, the CAR’s plan is just as vague as its claim that it would follow El Salvador as the second nation to legalise Bitcoin. The regional Bank of Central African States was caught off guard by Touadera’s administration, as it was then. Concern was expressed by the World Bank and the International Monetary Fund, which cited a lack of transparency and its possible impact on financial inclusion.

When approached on Tuesday, the central bank declined to respond right away.

Given that CAR is one of the world’s poorest nations with substantial infrastructure shortages, its crypto ambitions have drawn criticism. Although the 4.8 million people who make up CAR’s population have access to the Internet, only 557,000 of them have access to electricity, and the country’s administration has stated that it wants to make money transfers simpler for its inhabitants.

The initiative is being implemented at a time when the market value of digital assets has decreased by approximately $2 trillion since late 2021, with Bitcoin down more than 55% year-to-date.

20 percent of the Sango Coin will be held by the CAR’s national treasury, according to a concept note posted on the project website. The promotion of the nation’s assets and official services related to citizenship, residency, and property ownership may also be linked to the use of the Sango Coin.

“The Central African Republic sits on a mountain of resources — gold, diamonds, rare minerals, unexploited resources. Sango Coin will enable the direct access to our resources for the whole world,”

Touadera said.

The Central African Republic (CAR), which receives more than half of its funding from donations, is rich in diamonds and gold, but decades of strife have stopped it from taking advantage of these natural resources. According to the African Development Bank, this year’s $2.3 billion GDP would grow by 5.1%.

Source: Bloomberg

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Macroeconomic Factors to Blame for Crypto Crash With More Pain Likely to Come: Coinbase Report

It comes as no surprise that worsening macro-factors have been the cause of the current crypto bear market. However, Coinbase confirmed the notion in a blog post on July 5, adding that the other third was caused by a weakening outlook for cryptocurrencies.

Coinbase noted that the correlation between crypto and traditional markets has risen sharply since 2020. This was also the year when pandemic-induced lockdowns were enforced across the globe.

“Thus, the market expects crypto assets to become more and more intertwined with the rest of the financial system.”

Crypto asset risk profile is similar to commodities such as oil and tech stocks, it added.

More Macro Pain Ahead

Crypto markets are currently down around 70% from their all-time high in November. This is nothing new for a bear market that has previously seen drawdowns of over 80%.

However, the major difference with this cycle is that it has been influenced by macroeconomic factors and could be the first one when the U.S. is in recession.

A recession is determined by two consecutive quarters of negative GDP (gross domestic product) – the monetary value of all the finished goods and services produced within a country’s borders.

In Q1, the U.S. GDP was -1.6%, the figure for Q2 will be released on July 28 by the Bureau of Economic Analysis (BEA), and it is not expected to be any better. A recession is bad news for crypto markets, as is galloping inflation.

June’s inflation rate or consumer price index (CPI) will be released by the U.S. Bureau of Labor Statistics on July 13, and it has been predicted at 8.7%, worse than May’s 8.6%. This squeezes spending and investing, especially for high-risk assets such as crypto.

Rising Rates and Recession

Additionally, the Fed is expected to increase rates again this later month which also discourages lending and borrowing and encourages saving in traditional finance avenues. Those with debts will have to pay more back, further pressuring the amount of money available for investing.

Coinbase noted that the current situation is similar to what happened during the 2000–2001 dot-com recession. The S&P 500 declined 29%, but the riskier Nasdaq composite index, composed primarily of tech stocks, dumped 70% from peak to trough.

Therefore, there could be darker clouds ahead for crypto markets, which are unlikely to clear until those macroeconomic factors are back at relatively normal levels.

Study: Singapore most interested in NFT whilst Poland, Nicaragua and Belize are the Most Anti-NFT Country

Non-fungible token (NFT) sales have dropped 23.37 percent in the past week, and they are down 63.10 percent from the same time last month. Even though interest in NFTs has been going down, a recent study shows that Singapore and Hong Kong are the most interested places in the world. The research also shows that “Poland is the country that is most against NFT.” According to the number of searches by country, Axie Infinity is the most-searched NFT project in the world. It is the top search by collection in 112 countries.

Singapore, Hong Kong, and Canada are most interested in NFT, while Poland, Nicaragua, and Belize are most against NFT.

In a new study published by cashnetusa.com, researchers looked at NFT search data in every country in March 2022. They then used the Ahrefs tool to figure out how many monthly searches there were per 1,000,000 people. Also, researchers at cashnetusa.com used the Twitter API and the Snscrape tool to look at tweets that matched the queries “NFT” and “NFTs.” From here, they used the Hugging Face tool, which was made at Cardiff University, to analyze how people felt about the data. Lastly, the team figured out the top 100 NFTs of all time on the Opensea marketplace and used the Ahrefs tool to scrape through the search volumes in each country.

Statistics from cashnetusa.com’s NFT research.

Several interesting findings show how NFTs have changed each country, and researchers point out that Singapore is “the most hungry” for NFTs. The study says that Singapore searches for NFTs more than any other country, with 18,717 searches per million people every month. Researchers say that Montenegro is the most pro-NFT country in the world right now because it got “862 out of 1000 tweets that were positive.” According to the research, Poland is against NFT because “227 of every 1,000 tweets about NFT were found to be negative in tone.”

NFTs from Axie Infinity and Decentraland are the most searched for around the world.

Cashnetusa.com’s report also shows that Axie Infinity, a blockchain-based NFT game, is the most popular NFT project around the world. dappradar.com says that 2,115,063 traders have bought and sold NFTs worth $4.23 billion on the Axie Infinity platform. Based on the number of searches, the study shows that Axie Infinity rules in 112 countries. Decentraland is the second most searched for in 43 countries, and Bored Ape Yacht Club (BAYC) is the most searched for in six countries.

The cashnetusa.com researchers explain, “As a limited-edition collection with a high entry price, the Apes may be making headlines, but the average NFT fan can’t find them by Googling for new purchases.”

Statistics from cashnetusa.com’s NFT research.

Cashnetusa.com’s research also says that NFTs involve a lot of “social, technical, and environmental weirdness” and that the topic can be controversial. “Where money and status lead, people have different ideas. NFTs are controversial because they involve risky investments, scams, fears about the environment, and technology that is hard to understand. People who talk about NFTs fall into two groups: evangelists and skeptics. “The NFT evangelists all have their favorite team, whether it’s the Bored Apes or the Axie monsters,” the report’s author says.

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Chris Brown launches “BREEZYVERSE” NFT Collection

Chris Brown, a hip-hop artist, seems to be the latest celebrity to join the NFT trend. This week, he released his own NFT collection at the same time as his new album, Breezy.

The NFT collection, called “THE BREEZYVERSE,” is made up of 10,000 3D animated NFTs with sound and visual effects built on the Ethereum blockchain. On Friday, the sale was open to the public. The NFT’s official Instagram account, @thebreezyverse, put up a post that said, “PUBLIC SALE IS LIVE! Click the link in the bio to get your @chrisbrownofficial NFT right now. Now and for the rest of the tour, our special tools are being used. The trip has just started!” Brown also hyped up the release by posting an animated clip of some of the NFT’s art on his own Instagram page.

According to the NFT’s website, the collection “creates an intimate connection to Chris’s creativity and artistic talents” and is meant to “bridge the gap between the artist and his fans around the world.”

Some of the perks for NFT holders, which are called “exclusive utilities,” are VIP concert tickets, exclusive artist meet-and-greets, access to music video wardrobe, video calls with Brown, and some of Brown’s original art on canvas.

Brown is one of many famous people who have tried to start their own NFT in the past few months. NFT stands for “non-fungible token,” which is a digital asset that represents a real-world object like art, music, animation, games, or another physical asset. There are a number of online marketplaces for NFTs where they can be bought and sold.

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