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How to Master the Art of Listening and Build Business Relationships

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Business Relationships

Communication is the lifeblood of every relationship.  As a business owner, it’s imperative that you focus on the long-term relationship between you and your customers.

Your goal should be to communicate in a way that, over time, will create an emotional bond between you and your customers so that they remain loyal to you and become your advocates.

“Talking is the natural way to do business. Writing is great for keeping records

and putting down details, but talk generates ideas.” ~ T. Boone Pickens

Master the Art of Listening

Listening is perhaps the most important communication skill every business owner must master.

If you find it challenging to master the art of listening in your business, find someone in your organization who is good at listening and delegate the responsibility to communicate with your customers. It’s that important.

The Challenges

“The single biggest problem in communication is the illusion that it

has taken place.”– George Bernard Shaw

A number of challenges will come up when you attempt to master the art of listening.

Challenge #1: Research indicates that we hear and think much faster than most people speak.  The result of this time difference is that you can easily allow your mind to wander.  As your mind wanders away from listening intently, the communication becomes an illusion as George Bernard Shaw alluded to in his quote.

Challege #2:  We often enter into a communication event, whether it’s face to face, over the telephone, or through various online modalities, with pre-conceived thoughts and perceptions. These can create an invisible wall so that you fail to hear what your customer is really saying georgia programs.

“Effective communication is 20% what you know and 80% how you feel

about what you know.” ~ Jim Rohn

We often stop listening when we start thinking of comments we want to make or questions we want to ask. If these thoughts arise, quickly jot them down on a notepad and come back to them when the speaker is stops talking.

Remember that you do not only hear through the spoken word.  A lot of times the real issues are revealed through body language and listening for what is not said.

Challenge #3: Let your customer know you’re tuned into them.

Have you ever been in a conversation with someone and you could tell their mind was elsewhere?  In fact, their body language conveyed their lack of interest in what you were saying. How did that make you feel?

How do you think your customer would feel if your body language suggested a lack of interest in their complaint or opinion?

“People will forget what you said. People will forget what you did. But people will

never forget  how you made them feel”

To be able to address an issue and arrive at a reasonable outcome, you must understand fully what the other party says, the way it’s said, the motivation behind it, and the speaker’s feelings.

3 Ways to Master the Art of Listening

  1. Ask Qestions:  Ask questions to clarify points and to make sure that you and your customer have a similar understanding of the issue. Include open-ended questions that allow for more discussion, rather than closed questions where the answers could be Yes or No.
  2. Demonstrate empathy: Even if you do not agree with the sentiments expressed, you can convey to the customer that you understand their point of view.
  3. Make notes:  Your memory can become clouded by the barriers we spoke of earlier. Thus it’s critical that you take good notes during the conversation.  This is especially important if you now have to give the information to another person for them to take action. Your notes are more likely to convey what was actually said during the conversation.

Since good communication is essential to building strong relationships with your customers, it makes sense to take prompt action to master the art of listening and get everyone in the organization on board with using it effectively.

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Business

Sukanya Samriddhi yojana calculator – A unique way to save tax

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Sukanya Samriddhi yojana

With this development, we believe that people’s mindsets change. Gone are the days when boys are edging more than their counterparts. And in every stage of life today, fit boys limit women to attract the ultimate short straw. Although equality will now increase between the two sexes, investment remains an area where women continue to focus on their parents. One of the main reasons is that a strong part has not been given to the importance of most people he is short of money. The government has taken the right steps in this direction and by launching several schemes, you can financially empower your child to save tax. One of the same scheme is the Sukanya Samriddhi yojana calculator. In this blog, we will discuss in detail plans, provisions and how you can use it to protect.

About the plan Sukanya Samriddhi yojana calculator

An initiative that has been designed for girls has gone to help them complete their education. The program was launched by Prime Minister Narendra Damodardas, 2015. Here you need to know about tax exemption: 80C

  • Beti Bachao Yojana came under the auspices of the Beti Pdao campaign and wanted to build a bright future for girls.
  • Parents are also encouraged to invest in their daughter welfare schemes, which offer incentives to all parties.

Salient features of the scheme

Plan Sukanya Samriddhi Some of the key elements given below –

  1. Flexible Investment

The girl’s parents or guardians can invest the amount that fits their budget. Investment can be between Rs 1,000 and Rs 1.5 lakh per year.

2.Multiple-way to open an account

Offices can be opened for SSY accounts or nationalized banks. It provides the flexibility of alternative plans and easy account opening.

  1. Account

Under the scheme, only one woman for one account.

Besides, the maximum number of accounts allowed in a family of two – one for each child. The maximum limit of the two accounts that twins were born after the first daughter does not apply.

  1. Age front opening

Account open to parent/child Parent, not the child reaches the age of ten years. After children make it through this age, parents are not allowed to open an account.

  1. According to maturity

Children under the age of accounts covered under SSY are 21 years since its foundation. Pass holders have the option to continue the account after maturity.

  1. During operation

Operating accounts are limited to parents and guardians for 10 years. Once the child reaches the age of 10, he can do the explained work independently.

  1. Indian Residents

Sukanya Samriddhi Yojana can be opened only in India for the account.

The documentation for sukanya samriddhi yojana calculator

If you want to open an account for your daughter, the following documents are required.

  1. Birth certificate

A copy of the birth certificate is required to open the account. You must have at least the necessary documents and a ten-year plan to validate his age of opening an account.

  1. Variation Proof

To ask parents for proof of valid identity card of the guardian/guardian who has opened an account on behalf of their daughter.

  1. Hometown

Proof of residence such as a ration card, the voter must submit an identity card, utility bill and so on.

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Business

An overview about zero brokerage

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zero brokerage

Zero is termed as a number that makes a major difference and it counts. All the more so in the world of brokerage when zero is placed beside the right number. Now are you satisfied with the amount of brokerage you are paying? Some of you might be looking at an option of zero brokerage based trading.

Meaning of zero brokerage and discount broker

With more and more traders flocking on to the Indian stock market the prominence of zero brokerage came into existence and evoked curiosity from traders. A well thought out concept where discount brokers are not going to levy any brokerage for trade conducted.

A broker who executes buying or selling of transactions at a reduced cost is termed as discount broker. Pretty much like a full time broker, they are going to execute orders on behalf of the clients and not going to provide them with any advice. Once upon a time to even afford a broker was restricted to the elite strata of the society. But since technology has gone on to become a part of trading this has gone on to eradicate that wealth pinch. The internet is credited with the transformation as you can trade with a small amount.

Is zero brokerage expected to make a difference?

As far as zero brokerage trading in India is considered a major difference is expected. By traditional trading you have to shell out brokerages on trades. This is calculated by arriving at a % of the total volume of trade. This business model of calculating brokerage is a difficult task and an important part of the trading for an investor. The main reason being brokerage paid reduces the profit from the trades. A lot of people were disappointed as they felt paying brokerage was part of the trading game, till the point zero brokerage came into prominence.

There are numerous benefits expected with zero brokerage that are outlined below

  • There is no need to be worrying about the size and volume of your trade
  • In zero brokerage a flat monthly fee is levied and there is no need to worry about monthly trades executed
  • This goes on to enhance the profit or profitable trades or even breakeven point that is lower

There are a lot of companies who provide hidden opportunities. You have to time the stocks correctly so as to earn money from the stock market. If you are an investor in equity and commodity market you need to consult a share specialist that might help you to earn profits and cut losses. Though in the market you might come across numerous brokers providing you with profitable trades by raking in a chunk of investor’s profits they are enjoying. As an investor it is all about getting your timing right. But still major disappointment lies in store as you have to levy high brokerage.

Considering the calculations of the brokers in mind investors are even reluctant to place trades.

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Business

The ELSS and tax saving benefits

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tax saving benefits

Those who have to work hard for every penny do not like to waste their money. For many people though earning is good till the liquidity is a problem and if the income also falls in a big tax bracket for income tax, no one loves to go for it. In such a case, one needs to try the options that can help him save on income tax. Among the tops tools that are known for the tax saving the list may remain incomplete if the ELSS is not added to the same. It is a mutual fund which is linked with the equity market.

What is ELSS and how it helps save tax?

ELSS is a type of mutual fund that is specifically created for the tax saving purpose. Various AMCs are there in the market that has created this mutual fund to invest in the share market. The amount invested in this mutual fund is exempted from the income tax up to the limit of 150000 per annum. This exemption is provided under section 80c. Hence the investor who has to pay income tax on his complete income can invest the amount up to 150000 in some of the best ELSS mutual funds and save tax up to the prescribed amount.

The investment:

Investment in ELSS mutual funds can help one save on income tax on the side while on the other side the invested amount in the form of a mutual fund can also help one get a good return from the market. The best part here is the investor who wants to invest in ELSS can go for investing the amount in a single go or can also pay the same in instalments. Hence one does not need to feel the burden of investment on his routine income also.  While going to investing the amount in some of the best ELSS funds, one needs to check the unit price of the fund and also find its previous performance. If one does not know about it, one can find an expert who can help one invest in the best mutual funds that offer ELSS services also. The amount invested in this fund cannot be withdrawn for the next three years, and hence one can have a good return on his mutual funds in such a period.

The investor also needs to check if the investment in a mutual fund will be in a specific company or segments such as large caps, small caps and mid caps. There can be dividend and growth options from which one needs to find an option that best fits his investment as well as profile. The investor needs to understand the terms and conditions of the AMC before going for investing in specific AMC. One must note here that ultimately this investment is linked with share market and hence the ups or downs of the market can also affect his portfolio. It is always good to read the terms and conditions of the company before investing the amount to the same.

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