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How the Lockdown Changed Online Behavior and the Economy

Claire James
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How the Lockdown Changed Online Behavior and the Economy

The virus lockdown had positive and negative effects on the overall economy and online consumer behavior. Since the virus spread to infect the world, billions of individuals have had to adapt, for better or worse. The result has been a massively transformed way of doing things, especially when it comes to online buying, selling, and investing. There’s an important distinction in that it wasn’t the virus that caused all these changes, displaced thousands of workers, pushed up unemployment numbers, and generally screwed up global industries since March of 2020. It was the lockdown. And, the lockdown has been a double-edged sword. Here are seven ways that restricted personal freedoms have caused people to spend money differently, invest differently, and generally adapt to the fact that they’re not as free to come and go as they used to be.

Golden Age of Online Investing and Trading

Perhaps the single most positive result of restricted personal freedom is a new golden age of online trading and investing. With millions of working adults stuck at home, online brokerages have experienced an upsurge in customers. Many are attempting to use their at-home time to make extra money on the side. Others are turning to full-time trading as a way to replace lost work hours from their former jobs. The savvy brokers have been wooing new customers with easy account setup, free advisor services, risk-limiting apps, and all kinds of enhanced customer service goodies. For their part, new investors are finding stock, bond, forex, and other markets a good place to earn long-term and short-term profits.

Gaming Boom

If you write or sell gaming apps, or hold stock in companies that sell online games and platforms, the lockdown has been a very good thing for you. Additionally, it will likely continue being a financial windfall because at-home gaming is one of the fastest growing parts of the recreation sector. What better way to pass the time while confined to your house. In fact, gaming apps, chat rooms, strategy forums, and video conferencing social groups have been springing up all over the internet. It’s almost as if a new culture has been created.

Film Production Slump

One of the big losers in the virus era is the film production industry. Hollywood in particular has witnessed a drop in business like no time in its history. The silver lining to that otherwise dark cloud is that films are not even close to being an essential piece of the economy. Plus, compared to the auto, healthcare, tech, and other industries, filmmaking is low on the list of how many it employs.

Surge in Streaming Services

What happens when you can’t go to the movies because the government won’t let them go past their front yards? Consumers started to load up on streaming memberships, piling up film download credits, and cramming pantries with popcorn. Streaming services large and small have reported massive increases in membership numbers.

E-Commerce Explosion

One of the more subtle changes to come out of the virus era has been the boom in all types of e-commerce. Even companies that operate both brick and mortar and online stores have been seeing higher profits. As individuals become more comfortable making online purchases, every e-commerce merchant wins. Adding to the upswing in e-commerce usage by consumers is the fact that more sellers are making their shopping carts user-friendly. So, the synergy of simple payment methods and being trapped at home means that e-merchants are among the big winners of the virus debacle.

Food Delivery

Once a rarity, food delivery is now part of the new normal for millions of home-entrenched citizens all over the world. Of course, delivery services are booming, but so are grocery chains and other retailers who adapted quickly to the virus restrictions. Most of the big box stores were fast to offer curbside delivery for frightened buyers who didn’t want to enter stores. Adding an extra layer to contactless service, these same merchants also worked with delivery companies to offer low-cost store to door options for those who refused to venture outside their living rooms.

Computer Apps, Peripherals, and Hardware

When you spend 10 hours per day, seven days a week in front of a computer monitor, you quickly discover that you need things like new printers, device chargers, larger screens, better headphones, high-quality speakers, and other peripherals. Many people are finding that they can deduct the cost of a new computer from their taxable income if they use it exclusively for a home-based job.

Useful Tips to Organize a Garage When Selling a House

Sam Allcock
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Useful Tips to Organize a Garage When Selling a House

Garages are often thought to be dull, cramped spaces where one can stuff all the junk he/she likes. This is not true at all! You can use your garage for various purposes, making it more of a comfort zone, just like the other rooms in your house. Some people will just keep their cars in their garages. Others find it a great place to park their bikes and store their tools. However, it’s worth noticing that having a tidy, spacious garage helps to sell your house even to the pickiest buyers. This makes organizing your garage an essential task. At some point, you may even need to organize a junk removal.

It can be pretty tricky to make your garage look welcoming to potential buyers with all the stuff you accumulated over time. Just like any other room in your house, you need to organize junk removal for your garage. So, here are some tips to help you organize that garage and evade paying a junk removal company to help you out.

Clean it out

Clutter is so annoying, even when it’s in a place like a garage. So, one of the first useful tips to organize a garage is to clean it out! No, we’re not talking about cleaning it with disinfectant right after you found the litter box in one corner.

You should clean it thoroughly, first by getting rid of all the trash that you have dumped on it. Of course, it will take some time. But the effort will surely pay off once you achieve better organization in your garage.

Get rid of Old Junk by Involving a Junk Removal Company

Another useful tip for organizing a garage is to get rid of your old junk immediately. And you can do this easily by contacting the best junk removal company to lend a hand. The reason why you want to do this is not only to clear your space. It also helps to prevent you from buying things you don’t need. 80% of the time, people hoard the things that they don’t need. And the best way to deal with this character is to remove the ones that are already present.

The more clutter you have in your garage, the harder it will be for you to find something when you need it. And if you happen to buy something and place it inside the garage, it will be very inconvenient to look for it. Indeed, it makes it harder for you to take on an essential or urgent project. So, why not just hire a professional junk removal company instead?

Organize a Garage Sale as a means of Junk Removal

One great way to organize a garage is by holding a garage sale. You can choose to either set a date for sale or ask your friends and family to help you plan an event. Most importantly, a garage sale allows you to attract more customers and gives you the chance to sell things you didn’t even know you had. However, if you think your garage has unique items that you no longer use, consider having a garage sale to sell them off.

Recycle Instead of Using Junk Removal

Another tip you might want to consider is recycling. Instead of throwing away old papers, magazines, boxes, or anything else, recycle them. Once you’ve collected everything, you can simply place them into a container and put it into the recycling box. This way, you can easily keep track of all the stuff you will give away or sell to the recyclers. This is also to help you take care of Mother Nature.

Hire a Junk Removal Service

If you have a lot of clutter inside your garage, it might be a good idea to hire professional help from a junk removal company. There are a lot of companies that specialize in helping people organize their garages, and they can certainly give you a hand. Keep in mind, though, that scheduling time for organizing a garage does take a lot of work. Therefore, it just makes sense if you would have someone to help you out.

Sort out the Floor First

Another handy tip is to make sure you have a clean garage floor. If you are going to organize your garage, you need to make sure that your floor is clean and organized. Your floor should be sparkling, so it gives your garage an organized look. If you have pets going into the garage, it would be a good idea to put mats on the floor so that they can play safely.

Final Thoughts

These are just a few of the useful tips to organize a garage. They might not seem important now, but they will come in handy in the future. Garages are essential, and you should make sure that you keep them properly organized. This is so you won’t spend a lot of time searching for stuff. With these tips, you will indeed find it easier to plan a junk removal project in your garage. Make sure your garage is fully secured. Timely Emergency Roller Shutter Repair is crucial to ensure the security and functionality of your garage, preventing unauthorized access and maintaining smooth operational flow. Additionally, installing fire curtains in a garage can significantly enhance safety by containing and slowing the spread of a fire, providing valuable time for occupants to evacuate and for emergency services to respond.

Life skills learned during lockdown learning

Sam Allcock
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Life skills learned during lockdown learning

Parents have promoted gardening and cooking as home-learning activities

Lots of informal learning has been going on

There have been school closures across the world in an attempt to slow the spread of Covid-19. Families have had to adjust to home-learning and online learning and the usual tests and exams have been cancelled. We have heard lots about the negatives of this; parents finding it difficult to keep children engaged and on-task, lack of technology to access online learning, young people not making progress in their learning at home and falling behind. There have indeed been many issues with home-learning and it hasn’t been easy for many families. But there have been some positives to come out of home-learning, which we should recognize. Many parents may have struggled with motivating their offspring with the formal learning set by schools, but there has been less structured learning happening. Teachers speak of parents and children sharing photos of plants grown from seeds and meals cooked together.  Parents should be congratulated for encouraging these real life skills!

At the start of lockdown, food shortages prompted many families lucky enough to have a garden to plant seeds. Children read and followed the packaging instructions, ensuring the garden location was just right, not too sunny or too shaded. They ensured that the distance between seeds was correct, giving enough room for plants to grow and making sure the depth was sufficient. Children tended their seedlings over the weeks, watering them as required and getting rid of weeds. And when the careful nurturing paid off, children harvested the vegetables and fruits. Photos were shared with teachers and put in the school newsletter or on the school website, sharing the “fruits of their labor”.

Moreover, parents then helped children use what they had grown in meals. They learned to prepare their vegetables, read recipes, cook and serve food. Again, photos of cooking creations were proudly shared on social media and with teachers. Healthy, home-grown and home-cooked food – delicious. And what an amazing learning process!

Maintaining the interest in gardening and cooking

Well done parents and carers! You have helped the younger generation with important life skills and this should be recognized. We must not underestimate the positives of these skills. We now need to continue to foster these interests in growing vegetables and fruit and cooking. Even as schools reopen in the new academic year, let’s continue with our gardening and cooking.

There are a plethora of food websites and wellbeing websites that emphasise the value of connecting with nature and the outdoors, fresh air and exercise. Moreover, many websites stress the importance of food on physical and mental wellbeing. Parenting support groups, bloggers, educational websites, schools, chefs, cook book writers, agriculturalists, let’s continue to encourage the new found interest in cooking and gardening of our young people.  

Translating content to reach more families

Let’s make sure we provide content of interest to a younger audience and make it relevant to them. Furthermore, by providing content in different languages we can reach a much wider group of young people. You might like to ask yourself if your website or information can be accessed by all members of your community easily. By providing your website in community languages you could support a much wider audience of families. Linguation.com is an online translation agency that can help with the translation of your website content, blogs, information sheets, recipes etc. No job is too small and the agency offers a vast number of language combinations. The agency will assign a native speaker to your translation as well as a specialist in website translation to ensure search engine optimization. Translators will also ensure the text is localized and suited for the target audience, in this case younger people. More information about website translation may be found at:

Endesa Meets Municipal Officials About Supply Problems

ABC Staff
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Endesa Meets Municipal Officials About Supply Problems

Endesa meets tomorrow, Monday with municipal officials about supply problems. The Barcelona city council states that they will hold a meeting with the CEO of the electricity company to seek solutions to a problem that affects some 29 municipalities in the metropolitan area

The electricity supply problems detected in various areas of Barcelona in recent weeks have prompted the City Council to urge Endesa , the supply company, to resolve the situation as soon as possible .

The councilor for Climate Emergency and Ecological Transition, Eloi Badía, said last Friday that tomorrow, Monday, he will meet with the CEO of Endesa in Spain, José Bogas, to discuss the problem and seek solutions.

In the midst of the debate over electricity taxes and their impact on the user, and now because of power outages , municipal entities are trying to get some kind of guarantee from the electricity company to ensure supplies.

Last Friday there was a meeting between the representatives of 13 city councils in the metropolitan area of ​​Barcelona and the Minister of Business and Connection, Ramón Tremosa, to seek a position of strength with Endesa .

The Barcelona consistory has opened an information file so that the utility knows the number and location of power outages greater than 30 minutes , and has warned that if a breach of service is detected, the necessary sanctioning processes will be opened.

Several social groups have spoken out on the problem, since they consider that the electricity company is in breach of the law, which establishes that it has two hours to resolve incidents, extendable to two more hours in some cases. From the Alliance against Poor Energy they denounce that these deadlines are not being met.

The state of the supply network and its age are the focus of municipal claims. Since Endesa lament the situation and have reported on several occasions that have been carried out improvement work on the electrical infrastructure in many neighborhoods that are still awaiting the green light from the council for its operation.

The electrical effects go beyond the city of Barcelona and its surroundings, and according to the PSC there are about 29 municipalities affected by the power outages in recent weeks. Municipal representatives and members of the PSC met last Wednesday with Endesa to analyze the situation in a meeting that the company described as practical and constructive.

The Best Real Estate Crowdfunding Sites

Claire James
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The Best Real Estate Crowdfunding Sites

A relatively new way to invest in commercial real estate is making its way quickly up the ranks. Real estate crowdfunding is a new and innovative way to successfully invest in commercial real estate and a far simpler way than any that have been offered before. Assets that have previously been reserved for only wealthy people are now being offered to everyday investors which is revolutionizing the way they invest.

These great real estate crowdfunding websites combine developers and many other professionals in real estate with investors who would like to gain exposure to the world of real estate investing. It is a great way to invest in real estate without financing, owning, and managing properties which can become inconvenient and a hassle.

What is real estate crowdfunding?

Crowdfunding essentially pools small investments from a large group of investors and then uses that to fund a venture of project. It is very easy to raise a large amount of money quickly when you have enough people to make smaller investments and crowdfunding further pushes that. If you’ve heard of GoFundMe, it is likely that you understand crowdfunding sites.

GoFundMe is a platform for people to make donations to a specific cause and proves the fact that small investments can quickly become a lot of money. It is one of the most widely known and used crowdfunding sites for raising money. Raising capital for real estate investments is what real estate crowdfunding does and the process allows investors to effectively invest in real estate without having to manage, finance, or own real estate.

The pros of real estate crowdfunding

The pros of real estate crowdfunding are as follows:

  • Automatic investing on various platforms
  • Significant exposure in real estate without having to finance, manage, or own
  • The potential for high profit through distributions and a great lump sum return once your investment has ended
  • You can access investments that would usually be unaffordable due to low minimum investment

The cons of real estate crowdfunding

The cons of real estate crowdfunding are as follows:

  • Some opportunities are only available for accredited investors
  • Your money may be tied up at the very least three to five years because it is illiquid
  • Depending on your choice of platform and investment, you may face high fees
  • You run a higher risk as opposed to other types of equity investment

Fundrise

Since Fundrise launched in 2012, it has invested in an overwhelming amount of real estate; more than $4 billion, across the US. Now, at the present time, Fundrise manages over $1 billion of equity. It is managed on behalf of more than a whopping 130, 000 individual investors. 

Fundrise makes it incredibly easy to invest in real estate with its low fees (1%) and low account minimums ($500). Fundrise has worked insanely hard to reduce and remove the large barrier that comes along with real estate investing. It is a great crowdfunding platform for passive investors.

RealtyMogul

More than 197, 000 investors have joined RealtyMogul since its inception in 2013. RealtyMogul is well-known for its amazing due diligence due to the fact that they do an in-depth vet of every single potential property in person. They also closely scrutinize every detail and deal using decent methods and models.

RealtyMogul only works with partners who have an exemplary and proven track record and are very strict on it. They also make sure that all partners have experience managing assets. RealtyMogul refuses to invest in non-cash flowing investments and investors are able to choose from three objectives which are:

  • Diversification
  • Passive Income
  • Growth

Roofstock

Roofstock is an incredibly low-cost investment platform that makes it super easy for absolutely anyone to get into real estate investing. It has low fees (0.5% of purchase price), thorough inspections, and top of the line customer service. If you are new to the investing world, especially real estate investing, it can become overwhelming.

However, with Roofstock, it all becomes easier. Roofstock enables everybody, even complete beginners, to make a good investment. It was launched back in 2015 and it provides research, insights, and analytics for every offering. These tools allow you to be able to evaluate and then easily purchase an investment property.

Can You Access European Funds

ABC Staff
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Can You Access European Funds

How can I access European funds ‘ Next Generation EU as a company ? This is the question that many companies, especially SMEs , are asking themselves these weeks because of the fear of being left out of the rain of up to 140,000 million in six years that correspond to Spain.

The Roca Junyent law firm and the public administration consultancy specialized in the management of European funds, Daleph , have decided to launch a pioneering service in the market, dubbed ‘Test IN’ to allow companies to identify and assess “if their plans and / or projects are eligible for funding or grantsand, where appropriate, accompany them in adapting to the required criteria and obtaining funds.

“All of this will be articulated through the Recovery, Transformation and Resilience Plan presented by Spain to the European Commission last October.

The service is launched after the General State Budgets and the Royal Decree-Law of urgent measures for the modernization of the Public Administration and for the execution of the Recovery, Transformation and Resilience Plan come into force. Through ‘Test IN’, interested companies will be able to analyze whether their plans and projects are likely to receive financing or subsidies.

All this based on a legal-strategic analysis that, among others, will assess the alignment of the project with the Government’s plans, the General State Budgets, which include 27,000 million from this source, and the new Royal Decree Law. identify if projects have a place as PERTE(Strategic Projects for Recovery and Economic Transformation), created to favor public-private collaboration, or, where appropriate, existing alternatives and pathways.

With this initiative, Roca Junyent consolidates its position as the law firm of companies, thanks to the development of services that anticipate both the needs of organizations and society. Daleph brings his expertise, especially in managing community funds.

The executive president of Roca i Junyent, Joan Roca; and the general director of Daleph, Gregorio Cascante , sealed the agreement with which they intend to attract companies interested in undertaking or participating in projects that can benefit from European funds in areas ranging from digitization to the energy transition , among others.

4 Tips to Buying Property in Clapham

Sam Allcock
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4 Tips to Buying Property in Clapham

Clapham is famously known as the home of Holy Trinity Clapham around the world. In the 19th century, the Clapham Sect campaigned for abolishing the slave trade, which first put Clapham on the map. Now, Clapham is a relatively affluent district in South London. This residential suburb is known for its opulent High Street, filled with posh dining options, gourmet pizza spots, wood-panelled pubs, patio bars and rather happening nightclubs. Clapham is a rather posh place to live, with a universal belief that only the posh and ultra-rich live in this high-end district. With a crime rate much lower than the London average, Clapham is a very safe place to live and bring up your family.

According to Rightmove and Zoopla, Clapham ranked number three in the list of areas with the highest demand in London for properties over £2 million. Despite the effects of the Covid-19 pandemic on the property market, Clapham is considered to be a prime property hotspot in London! If you’re looking for properties in Clapham, now is an excellent time to get in touch with Clapham estate agents. Before you start looking at potential properties and negotiating a deal, here are the four most important tips that you need to keep in mind before buying property in Clapham.

Hire local experts to find the best property for you

If you’re looking to buy property in Clapham, you should find local experts. Hire real estate agents or letting agents in Clapham, as these local agents are well aware of the current market value, the best areas to buy a property and the various laws and taxes that might apply to your purchase. Using local experts, you will be able to find a property that meets all your requirements without wasting too much time, and most importantly, without paying an overvalued amount for your new home.

Take advantage of the fall in prices

There has been a massive price reduction in the costs of real estate in Clapham in the last ten years. Clapham homeowners face a dilemma; either reduce their asking price by a significant amount or risk not selling their properties for a long time. First-time buyers and potential new homeowners make the most of this fall in prices by rushing to invest in property in this posh district. Clapham has become a trendy area among young professionals and first-time buyers due to the fall in average prices of real estate. These new homeowners can now buy spacious homes that they can call their own without paying exorbitant prices for the same. If you’re interested in owning property in Clapham, you should make the most of this reduction in real estate prices before it is too late. 

Understand the different areas and where you should buy property

Areas in Clapham are divided; some locations have three and four bedroom houses that are luxurious and highly valued. Some have small apartments and studios, while other areas are known for their spacious and affordable two and three bedroom maisonettes. Before you start looking at properties, you need to understand which area you want to own a home in. Homes located on Franconia Road, Narbonne Avenue, Abbeville Road, and those near Abbeville Village are usually spacious three to four bedroom properties with terraces and lush green gardens. On the other hand, Clapham Junction has some great two and three bedroom apartments, which are very modern and relatively affordable. The properties in and around Mandalay Road and Hambalt Road are also known for the reasonable prices and central locations – these are usually two, three and four bedroom homes which are very centrally located and have fantastic transport links. Even Nine Elms has some posh penthouses, luxurious apartments and chic houses which are well-priced! Get in touch with estate agents in Nine Elms and Clapham to find the perfect property for you.

View as many properties as you can

Before you decide which property you want to buy, see as many properties as you possibly can. For example, if you’re interested in buying a two-bedroom house in Clapham, have a look at all the two-bedroom homes that are available and meet your requirements, and alongside, have a look at a few three-bedroom houses which are in the similar price range. By seeing all the possible options, you might just be able to get a three-bedroom house which meets all your requirements without really moving around your budget. Due to the fall in the prices in the recent years, coupled with the urgency of a few sellers and the fact that the government has announced a stamp duty holiday, you might just find a prime property at a great price. 

To get started, get in touch with Orlando Reid, South West London and Central London estate agents.

Adolfo Domínguez Lost 15 Million Between March And November

ABC Staff
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Adolfo Domínguez Lost 15 Million Between March And November

Adolfo Domínguez lost 15 million between March and November after reducing sales by 47%. Online billing grew by 28.2% with a sales penetration of 19.3%, but it did not neutralize the effect of store closings.

Adolfo Domínguez’s sales stood between March and November 2020 at 40.5 million euros, 47.1% less than in the same period of the previous year. The billing ‘on line’ grows 28.2% with penetration in sales of 19.3%, but did not neutralize the effect of the fall in business activity in physical stores.

39% of the company’s stores suffered some kind of opening or hours restriction during the second global wave of covid-19 (September-November 2020). Restrictions on trade and lower consumption forced the company to keep 43% of the workforce on file for temporary employment regulation (erte).

The coronavirus crisis causes an accumulated operating result in the third quarter of the year of -5.6 million euros and an attributed net result of -14.9 million, compared to the +5.5 million and -2.1 million generated past year.

The Adolfo Domínguez group continues to contract its operating expenses with a reduction of 11 million euros in its personnel expenses and 3.4 million in its current expenses.

“The coronavirus crisis continues to be decisive day by day, and more so for those companies that have an important social component with an activity marked by the evolution of consumption.

Given the restrictions on trade and mobility, we are taking all the necessary measures to guarantee the liquidity and solvency of our company until business conditions can be reestablished “, explained Antonio Puente, CEO of Adolfo Domínguez. Adolfo Domínguez’s sales contracted in all the markets in which it operates.

In Spain, the behavior of the textile set shows an average drop of 40.5%, according to data from the Textile Trade Association (Acotex). Adolfo Domínguez has an annual turnover of 115 million euros and employs 1,209 professionals (2019/20 financial year). The firm markets its garments at 348 points of sale in 18 countries

Dow Jones, Nasdaq, and more: the key differences

Claire James
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Dow Jones, Nasdaq, and more: the key differences

When a new stock trader kicks off their career on the markets, it’s common for them to feel a little overwhelmed by the range of choice on offer. Not only are there hundreds or even thousands of individual stocks to choose from: there are also lots of stock exchanges to go for, too.

It can be a little complex to get your head around the different American exchanges, especially given that many other countries in the world just have one headline exchange. As one of the finance sector’s world leaders, the US has a huge amount of high-profile exchanges. What’s the difference between them all, and how can a trader optimize their trading for each one? This article will find out.

What is a stock exchange?

Before looking at each individual stock exchange and working out a good trading strategy for each one, it’s a good idea to explore the definition and principles of stock exchanges generally. The idea behind a stock exchange is that it centralizes the purchasing and selling of stocks. The alternative, having to approach individual companies to find out what stocks they are selling and then buying them in an unregulated way, would be chaotic.

The main advantage from a trader’s perspective is that having a stock exchange in place means that there’s a single, comprehensive market for major stocks. This makes the purchasing process easier, and it also means that there’s some added safety for the trader – or, at least, it makes due diligence easier. Exchanges require the businesses which list on them to follow a certain set of rules about financial disclosures and other key information. Brokerages like Capital Markets Elite Group can help facilitate these transactions, especially given their wide reach and coverage of various markets.

For a business, a stock exchange is a valuable way to raise funds through what is known as an initial public offering, or IPO. The money the trader spends on buying the stock is then used by the firm in question on operational costs, or to reward shareholders.

Dow Jones

The Dow Jones is one of the world’s most famous stock markets – and, crucially, it’s also the largest in the US by the metric of market capitalization. For a trader, one of the major reasons why investing in the Dow is so potentially lucrative is that, in addition to its relatively large market cap, it is also very globalized. A lot of firms listed on the Dow have an international presence, and it’s the sort of stock exchange which attracts corporations that have a global footprint – so this is unlikely to change.

The benefit of this for a trader is that the Dow won’t necessarily plunge in value if the American economy tanks. Holding some stock in international companies on the Dow Jones, or indeed in a tracker fund that matches its performance, is a good way to manage risk. However, deciding to invest in the Dow Jones could also mean a heightened burden of research: performing due diligence on international firms isn’t quite so easy as doing it on American firms, and there may be a higher time commitment needed. As always, then, there’s a tradeoff to be made between the upside and the downside.

Nasdaq

One of the key things to remember about the NASDAQ, or the NASDAQ 100 as it is properly known, is that it does not feature financial companies. Unlike some of the world’s other leading exchanges, it is non-financial – and instead focuses on other sectors. It is widely considered to be one of the world’s strongest indicators of the health of the technology sector, which means that those who have an interest in speculating on the performance of social media firms, biotech companies and more may be interested. It also lists shares from the retail and healthcare sectors.

NYSE

The New York Stock Exchange and its related subsidiaries contain some of the world’s most popular stocks. It’s also known for being highly liquid, and it is understood to have nearly three times as much liquidity as other exchanges – meaning that traders who value the ability to sell their holdings as they please may find this a useful exchange on which to trade. The exchanges that are subordinate to the main NYSE, meanwhile, are also good options for traders to consider. The NYSE American, as it is known, offers traders the chance to invest in companies that have smaller market capitalizations, and hence are earlier on in their journeys compared to some of the corporations on the bigger markets.

In short, there are some pretty big differences between all of these stock exchanges. From the internationalized nature of the Dow Jones to the technology focus of the NASDAQ, there’s a stock exchange for every sort of trader. But all stock exchanges have some things in common. In the end, it’s up to the individual trader to work out which exchange is right for them.

Law Firm Marketing vs Business Development

Sam Allcock
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Law Firm Marketing vs Business Development

Your development team should be different from your marketing team. That is an important detail to remember. While they may seem the same and could possibly serve similar functions, they are all too different.

While it is natural to do what you can to keep operational costs at a minimum, like having one staff do the work of two, don’t ever get tempted to have only one marketing and business development team. Otherwise, you are looking at negative long-term results.

You might be wondering why. Why is it so important to have them separated when in fact they seem so similar? Shouldn’t they be interchangeable at least?

What is Law Firm Marketing?

To understand the difference between the two, it is important to know the key roles and responsibilities of each. For law firm marketing, it is all about raising awareness for the business and the services it delivers.

No matter how great your firm is with all the cases you won and the flexible payment options you provide, if nobody knows anything about it, you are not looking at any potential customers.

Awareness is what gets you the attention you need. That in turn will eventually convert to leads and customers.

The bigger responsibility of law firm marketing is to highlight key details. What is your rank as the best law firm? What is your win rate on your cases? And several others that can make you stand out from the competition.

What is Business Development?

When talking about business development, it is spreading the footprint of the business. It involves creating key connections, cultivating partnerships, and fostering existing clients. The goal is to forward the overall status of your business in the industry.

It may seem no different to marketing by spreading awareness. However, looking closer at the picture, it is more on creating key connections and acquiring potential resources.

Law Firm Marketing vs Business Development

At this point, you either know what’s different between the two or are only more confused. To put it simply, marketing is creating awareness among leads and potential customers. On the other hand, business development is about spreading awareness to connections.

Law firm marketing is what you get to see and what the company tries to show. While business development is what happens on the inside. It is more than just gaining new clients, but growing the firm in other aspects as well such as reputation and available resources.

Now you know that each of these teams have their own responsibility to perform and they are both quite different from each other. A good marketing team doesn’t automatically mean they can be good in business development. The same concept is true the other way around.

However, this still doesn’t answer why there should always be two teams. Why can’t one person or group specialize in two different responsibilities?

Each Plays an Important Role

While it may be clear at this point that the two have different responsibilities, at a certain degree, the distinction can be blurred. The two are doing the same thing and that is spreading awareness. What differentiates them is who they are targeting.

It is this thin distinction that serves as the problem. For a marketer, it can be fairly easy to get carried away and be more involved in internal workings instead of marketing to potential customers.

The same concept can be applied the other way around. A business developer can find marketing campaigns to potential audiences much easier than to hold a one-on-one conversation with a key industry connection.

When you have one team working on two different tasks that are easily interchangeable, you are opening the possibility of an unequal work output. Your team could either veer more towards marketing or business development without them even knowing it.

You don’t want that, because marketing and business development work side by side. One is not more important over the other. Instead, marketing makes it easier to develop business and a developed business is easier to market. The failure of one can mean the downfall of both. So, you cannot risk underperforming on either one.

Law Firm Marketing: Who Should Be Doing It?

You now have a solid understanding of separating the two. Now, the problem is, who are the right people to do each job? When one person can’t do both, who should be doing either one?

Law firm marketing is not so different from other forms of marketing. Other than it being more of a niche service which requires it to be more targeted to a specific audience, it is the conventional social media and traditional marketing approaches.

Therefore, any experienced marketer should be enough for the job. If you are running on a tight budget and can’t hire an inhouse person or team, outsource marketing can be an option. The best part about it is that you strongly delineate your marketing team from your business development department by having one not being in the same office.

Law Firm Business Development: Who Should Be Doing it?

How about the task of business development, who should be tasked to have this responsibility?

Since it is more technical, this is something that only an expert can effectively perform. In most cases, business development is performed by lawyers themselves. However, it is not exclusively limited to them.

Business development has a much higher risk. By dealing with key industry connections, a successful transaction could either make or break your law firm. It could add important resources at your disposal or you are looking at going back a few steps.

In Conclusion

Most firms try to cut down on their operational expenses by using one team for everything. That includes people tasked to do the marketing to develop business relations as well. It is not a wise move to make. While some have been lucky to have survived, it isn’t true for the majority.

The potential for risk is high. You open your firm to a high chance of business failure. Not worth the risk of saving a few paper bills.

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