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VRBO is an online marketplace specializing in different rentals. Vrbo vacation rentals have been around since 1995. These vacation rental properties can be found in 190 different countries with over 2 million properties. What does Vrbo stand for? Vacation rental by owner. Some of the owners on this site use a property manager to look after their rental property. You can stay in a standard hotel and or other hotel rooms too. What Is Vrbo? VRBO is a specialized online platform for booking private vacation properties. Focused on offering entire homes without shared spaces, unlike competitors such as Airbnb, VRBO provides travelers with privacy and the comforts of home in various destinations worldwide. Acquired by HomeAway and later by Expedia Group for $3.9 billion, VRBO has expanded its reach, now featuring over 2 million properties across 190 countries. This acquisition has allowed VRBO to enhance its services, offering a seamless booking experience for both guests and property owners looking for a comprehensive vacation rental solution. How Does Booking on Vrbo Work? StepDescription 1. Account Set-upYou can create an account using just an email address and name. An option to add a photo and bio is available. 2. Browse ListingsUse filters to sort through property listings based on destinations, number of guests, and preferred dates. 3. Booking MethodsThere are two methods to book with a property owner: - Instant Booking Request: Confirms your choice immediately. - 24-hour Confirmation: Allows property owners 24 hours to accept or decline your request. Either option through this vacation rental company requires arrival and departure dates, number of guests, and if you’re bringing pets. Learn more about the check-in process here. How Is a Vrbo Vacation Rental Different from Airbnb Vacation Rentals? Not all vacation rental platforms are created equal. Both Vrbo and Airbnb are industry-leading rental sites. There are differences between these vacation rentals and owner sites. For example: Each site boasts booking with a host. Airbnb users and people looking to book through Vrbo both need to send requests. But Airbnb offers an instant book option. Both Airbnb and Vrbo allow hosts to charge an applicable fee for a security deposit. However, the Vrbo website shows more of these. Both of these charge service fees. There’s a standoff here as the Vrbo prices are similar to the entire service fee for Airbnb. Each of these fees for short-term rentals and others is around 20% of the base rate. Airbnb and Vrbo both allow property hosts to charge cleaning fees. A listing from Vrbo is cheaper in this regard. All the bookings on Vrbo show the total reservation costs, excluding taxes. Here’s another advantage for Vrbo. If you’re a travel writer you can use this affiliate link to make extra money. Similarly, you can take a look at these 20 Airbnb competitors to consider if you are looking for more options. What Is the Pricing on the Vrbo Vacation Rental Site? Vacation renters interested in what is vrbo and looking to rent entire homes want to grasp the pricing for this type of property. After selecting the specific Vrbo location you wish to rent, you can make your payment using American Express, MasterCard, or Visa. The host might require full payment upfront. Is Vrbo safe? The answer is yes. They even have a natural disasters page and a contact page for it. When you list, you will need to put in minimum stay, links, and nightly rates plus any additional fees. What Is the Vrbo Service Fee? There are service fees for hosts and two fee models that hosts pay. One is the annual fee, where you pay a flat rate to list all of your properties with Vrbo. The annual subscription rate is $499. There is also a pay-per-booking fee. The guest service fee is a portion of the total amount of the reservation, subtracting taxes and other refundable fees. Guests should also know about the book with confidence guarantee. It covers the entire transaction, and the Vrbo Customer Service team can look after issues like access. The book, with confidence, guarantees that this member of the Expedia group stands apart. However, this is different from travel insurance. What Is Vrbo’s Cancellation Policy for Vacation Rental Services? These vary depending on the different Vrbo properties. Vrbo lists the ones for hosts on their listing pages. The cancellation policies state cancellations need to be made by 11:59 pm in the listing time zone. The refund policy can also depend on the total amount payable. How Do You List a Property on Vrbo? Listing vacation properties is about a little bit more than just listing the available amenities. There is a process that includes the same steps for one or more properties. You can start by clicking the link. The numbered list includes reviewing what other short-term rental properties are charging. You’ll need to review local laws and upload six or more different photos so solo travelers and others can view them. You need to verify your contact information and bank account info. There are a few other steps including having your submission reviewed before you can list the entire property. Enhancing Your VRBO Listing for Maximum Visibility Creating a compelling listing is crucial for attracting potential guests. Here are some tips to enhance your listing: High-Quality Photos: Invest in professional photography to showcase your property’s best features. Bright, clear images can significantly impact a guest’s decision to book. Detailed Descriptions: Provide thorough descriptions of your property, including amenities, nearby attractions, and any unique features. Be honest and transparent to set the right expectations. Responsive Host: Being a responsive host can improve your listing’s attractiveness. Promptly answer inquiries and provide guests with all the necessary information for their stay. Competitive Pricing: Investigate comparable properties in your area to establish competitive pricing. Think about providing discounts for longer stays to entice guests interested in extended vacations. Update Your Calendar Regularly: Keep your availability calendar up to date to prevent double bookings and to appear higher in search results. Leveraging VRBO for Business Travel VRBO isn’t just for leisure travelers. With an increasing number of remote workers and businesses looking for team retreats, it can be an excellent platform for business travel accommodations. Here’s how: Tailor Your Listing for Business Travelers: Highlight amenities like high-speed internet, workspaces, and proximity to major business centers. Offer Flexible Check-in/Check-out Times: Business travelers often have strict schedules. Offering flexibility can make your property more appealing. Promote Extended Stay Discounts: Attract longer reservations by providing discounts, specifically targeting traveling professionals who may require accommodations for weeks or even months. Maximizing Earnings on VRBO To maximize your rental earnings, consider the following strategies: Seasonal Pricing: Adjust your prices based on demand during peak and off-peak seasons to optimize your earnings. Minimize Vacancies: Offer last-minute discounts to fill empty dates. This can help you maintain a steady income stream even during slower periods. Optimize Your Listing: Consistently refresh the content and images of your listing to showcase any enhancements or modifications made to your property. Understanding VRBO’s Review System Reviews are a critical component of the platform, influencing guests’ booking decisions. Encourage guests to leave reviews by: Providing Exceptional Service: Go above and beyond to ensure a memorable stay for your guests. A positive experience is more likely to result in favorable reviews. Following Up After Checkout: Reach out with a courteous message to thank guests for their visit and encourage them to provide feedback. Responding to Negative Reviews Constructively: Address negative reviews in a professional manner by offering solutions to any problems mentioned. This shows your dedication to ensuring guest satisfaction. Is Vrbo or Airbnb Better for Hosts? Property managers and their Vrbo hosts who own the properties want to know who comes out on top with Vrbo Vs Airbnb. Airbnb has one of the lowest host fees but Vrbo offers two different fee options that the host can choose from. Vrbo has a better search filter with more capabilities. There’s also a trip board feature that helps guests to plan their trips and reservation itinerary. In the end, there are bonuses to both sites. Remember, both sites charge a booking subtotal on top of the fees. But you can find more on how to become a Vrbo host. Is Vrbo or Airbnb Better for Travelers? There’s a seesaw battle between these two platforms for travelers, too. However, you can look at the safety tips listed. For example, Vrbo wins for customer service. They have fewer complaints even though they have fewer listings. Airbnb, on the other hand, has had to set up a Resolution Center to deal with problems. Guests have one year to leave a review on Vrbo, while guests and hosts have two weeks to leave reviews on Airbnb. Is HomeAway the same as Vrbo? HomeAway has been fully integrated into VRBO. This consolidation means that VRBO now encompasses what was previously offered by HomeAway, streamlining the vacation rental experience under a single brand. Therefore, references to HomeAway can be updated to reflect this change, emphasizing VRBO’s expanded inventory and unified platform for guests and hosts. Image: Depositphotos This article, "What is Vrbo?" was first published on Small Business Trends View the full article

VRBO is an online marketplace specializing in different rentals. Vrbo vacation rentals have been around since 1995. These vacation rental properties can be found in 190 different countries with over 2 million properties. What does Vrbo stand for? Vacation rental by owner. Some of the owners on this site use a property manager to look after their rental property. You can stay in a standard hotel and or other hotel rooms too. What Is Vrbo? VRBO is a specialized online platform for booking private vacation properties. Focused on offering entire homes without shared spaces, unlike competitors such as Airbnb, VRBO provides travelers with privacy and the comforts of home in various destinations worldwide. Acquired by HomeAway and later by Expedia Group for $3.9 billion, VRBO has expanded its reach, now featuring over 2 million properties across 190 countries. This acquisition has allowed VRBO to enhance its services, offering a seamless booking experience for both guests and property owners looking for a comprehensive vacation rental solution. How Does Booking on Vrbo Work? StepDescription 1. Account Set-upYou can create an account using just an email address and name. An option to add a photo and bio is available. 2. Browse ListingsUse filters to sort through property listings based on destinations, number of guests, and preferred dates. 3. Booking MethodsThere are two methods to book with a property owner: - Instant Booking Request: Confirms your choice immediately. - 24-hour Confirmation: Allows property owners 24 hours to accept or decline your request. Either option through this vacation rental company requires arrival and departure dates, number of guests, and if you’re bringing pets. Learn more about the check-in process here. How Is a Vrbo Vacation Rental Different from Airbnb Vacation Rentals? Not all vacation rental platforms are created equal. Both Vrbo and Airbnb are industry-leading rental sites. There are differences between these vacation rentals and owner sites. For example: Each site boasts booking with a host. Airbnb users and people looking to book through Vrbo both need to send requests. But Airbnb offers an instant book option. Both Airbnb and Vrbo allow hosts to charge an applicable fee for a security deposit. However, the Vrbo website shows more of these. Both of these charge service fees. There’s a standoff here as the Vrbo prices are similar to the entire service fee for Airbnb. Each of these fees for short-term rentals and others is around 20% of the base rate. Airbnb and Vrbo both allow property hosts to charge cleaning fees. A listing from Vrbo is cheaper in this regard. All the bookings on Vrbo show the total reservation costs, excluding taxes. Here’s another advantage for Vrbo. If you’re a travel writer you can use this affiliate link to make extra money. Similarly, you can take a look at these 20 Airbnb competitors to consider if you are looking for more options. What Is the Pricing on the Vrbo Vacation Rental Site? Vacation renters interested in what is vrbo and looking to rent entire homes want to grasp the pricing for this type of property. After selecting the specific Vrbo location you wish to rent, you can make your payment using American Express, MasterCard, or Visa. The host might require full payment upfront. Is Vrbo safe? The answer is yes. They even have a natural disasters page and a contact page for it. When you list, you will need to put in minimum stay, links, and nightly rates plus any additional fees. What Is the Vrbo Service Fee? There are service fees for hosts and two fee models that hosts pay. One is the annual fee, where you pay a flat rate to list all of your properties with Vrbo. The annual subscription rate is $499. There is also a pay-per-booking fee. The guest service fee is a portion of the total amount of the reservation, subtracting taxes and other refundable fees. Guests should also know about the book with confidence guarantee. It covers the entire transaction, and the Vrbo Customer Service team can look after issues like access. The book, with confidence, guarantees that this member of the Expedia group stands apart. However, this is different from travel insurance. What Is Vrbo’s Cancellation Policy for Vacation Rental Services? These vary depending on the different Vrbo properties. Vrbo lists the ones for hosts on their listing pages. The cancellation policies state cancellations need to be made by 11:59 pm in the listing time zone. The refund policy can also depend on the total amount payable. How Do You List a Property on Vrbo? Listing vacation properties is about a little bit more than just listing the available amenities. There is a process that includes the same steps for one or more properties. You can start by clicking the link. The numbered list includes reviewing what other short-term rental properties are charging. You’ll need to review local laws and upload six or more different photos so solo travelers and others can view them. You need to verify your contact information and bank account info. There are a few other steps including having your submission reviewed before you can list the entire property. Enhancing Your VRBO Listing for Maximum Visibility Creating a compelling listing is crucial for attracting potential guests. Here are some tips to enhance your listing: High-Quality Photos: Invest in professional photography to showcase your property’s best features. Bright, clear images can significantly impact a guest’s decision to book. Detailed Descriptions: Provide thorough descriptions of your property, including amenities, nearby attractions, and any unique features. Be honest and transparent to set the right expectations. Responsive Host: Being a responsive host can improve your listing’s attractiveness. Promptly answer inquiries and provide guests with all the necessary information for their stay. Competitive Pricing: Investigate comparable properties in your area to establish competitive pricing. Think about providing discounts for longer stays to entice guests interested in extended vacations. Update Your Calendar Regularly: Keep your availability calendar up to date to prevent double bookings and to appear higher in search results. Leveraging VRBO for Business Travel VRBO isn’t just for leisure travelers. With an increasing number of remote workers and businesses looking for team retreats, it can be an excellent platform for business travel accommodations. Here’s how: Tailor Your Listing for Business Travelers: Highlight amenities like high-speed internet, workspaces, and proximity to major business centers. Offer Flexible Check-in/Check-out Times: Business travelers often have strict schedules. Offering flexibility can make your property more appealing. Promote Extended Stay Discounts: Attract longer reservations by providing discounts, specifically targeting traveling professionals who may require accommodations for weeks or even months. Maximizing Earnings on VRBO To maximize your rental earnings, consider the following strategies: Seasonal Pricing: Adjust your prices based on demand during peak and off-peak seasons to optimize your earnings. Minimize Vacancies: Offer last-minute discounts to fill empty dates. This can help you maintain a steady income stream even during slower periods. Optimize Your Listing: Consistently refresh the content and images of your listing to showcase any enhancements or modifications made to your property. Understanding VRBO’s Review System Reviews are a critical component of the platform, influencing guests’ booking decisions. Encourage guests to leave reviews by: Providing Exceptional Service: Go above and beyond to ensure a memorable stay for your guests. A positive experience is more likely to result in favorable reviews. Following Up After Checkout: Reach out with a courteous message to thank guests for their visit and encourage them to provide feedback. Responding to Negative Reviews Constructively: Address negative reviews in a professional manner by offering solutions to any problems mentioned. This shows your dedication to ensuring guest satisfaction. Is Vrbo or Airbnb Better for Hosts? Property managers and their Vrbo hosts who own the properties want to know who comes out on top with Vrbo Vs Airbnb. Airbnb has one of the lowest host fees but Vrbo offers two different fee options that the host can choose from. Vrbo has a better search filter with more capabilities. There’s also a trip board feature that helps guests to plan their trips and reservation itinerary. In the end, there are bonuses to both sites. Remember, both sites charge a booking subtotal on top of the fees. But you can find more on how to become a Vrbo host. Is Vrbo or Airbnb Better for Travelers? There’s a seesaw battle between these two platforms for travelers, too. However, you can look at the safety tips listed. For example, Vrbo wins for customer service. They have fewer complaints even though they have fewer listings. Airbnb, on the other hand, has had to set up a Resolution Center to deal with problems. Guests have one year to leave a review on Vrbo, while guests and hosts have two weeks to leave reviews on Airbnb. Is HomeAway the same as Vrbo? HomeAway has been fully integrated into VRBO. This consolidation means that VRBO now encompasses what was previously offered by HomeAway, streamlining the vacation rental experience under a single brand. Therefore, references to HomeAway can be updated to reflect this change, emphasizing VRBO’s expanded inventory and unified platform for guests and hosts. Image: Depositphotos This article, "What is Vrbo?" was first published on Small Business Trends View the full article

Working abroad might be just what your career—and personal life—needs. It exposes you (and loved ones) to new, different, and potentially more fulfilling ways of living. It expands your worldview. And it builds skills and a reputation that can serve you well in your field down the road. Marissa Andrada, who’s managed people operations for dispersed teams at major organizations including Kate Spade, Starbucks, Red Bull, and Universal Studios, recalls one American employee she convinced to take on a role in Hong Kong running human resources for the Asia-Pacific region. When the woman returned to the states after her assignment was over, she quickly moved up to manage global HR operations. “Those are career makers for people, defining moments, where you’re able to demonstrate that ability to not only take this knowledge but create something in the footprint of that local culture. You mature so much as a human being and as a leader,” she says. Companies, too, benefit from hiring, developing, and supporting expats, as it enables them to appeal to a broader customer base, retain top talent, and generate a more diverse and skilled workforce. “Organizations should actually encourage more of it,” says Anita Woolley, a professor of organizational behavior at Carnegie Mellon University’s Tepper School of Business who focuses on productivity and collaboration among distributed teams. “When you have individuals who have experience in multiple cultures, they contribute a tremendous amount to facilitating the work of any team that they’re on, whether those teams all share that same cultural experience or not,” she adds. Of course, setting up shop in another country can’t, and shouldn’t, be a snap decision. “While this could be a fun adventure immersing in a culture, there are also things you need to consider—and it depends on where you are in your life stage, too. Does it work for your family? Does it work for you?” Andrada says. But if the answer is a resounding “yes,” here are three options for maintaining a job with a U.S.-based company while living overseas: 1. TRANSFER TO ANOTHER OFFICE Let’s say your company has headquarters or a presence in other countries and you want to snag a spot. The first thing to do is start those conversations as soon as possible. “Have that conversation with your manager about, ‘Hey, I’m really curious about what happens on this side of the world, and what is the process to get there?’” Andrada says. If approaching your boss is intimidating or you’re worried how they might react, consider with whom else you feel comfortable confiding this goal. “Go to anyone in HR—it could be someone in recruiting, it could be your employee relations generalist—and just talk to them,” she says, adding, “There’s no shame in asking.” Once you’re clear on the details and have some internal buy-in, you’ll need to craft a strong pitch for why you, of all people, should be transferred. Outline your current performance and any major wins you spearheaded, then focus on what you can offer a new team or office, or how your move will positively impact your U.S.-based team. “If it’s an organization that is trying to foster better coordination across different locations, having somebody who is familiar with one location go to another location is incredibly beneficial,” Woolley says. Also, cover where and how you’ll add value in terms of relationship building and morale. “It’s an advantage when you say, ‘Here’s my experience with that culture. Here’s the language that I can speak,’” Andrada says. She adds that this doesn’t mean you have to be fluent in the local tongue—rather, you should be open to learning and assimilating, and show the steps you’re taking now to excel in this area, such as signing up for a language or etiquette course. “The most successful people that I’ve seen have really just embraced it,” she says. 2. NEGOTIATE A REMOTE ROLE How about the case where you can’t relocate to another office, but there might be room to transition to full-time remote work? The above tips apply here as well, but you’ll also want to address how you’ll project and time manage without direct oversight. “If you’re not being managed by someone there…how are you going to self-manage, how are you going to make sure that you stay connected, communicating with your key partners back in the U.S.?” Andrada says. Once you’ve been approved to work remotely and gotten settled in your new location, carry this advice over to how you work on a regular basis. “Meet people where they’re at,” Andrada adds, by being a consistent and transparent communicator, and by getting clear on your deliverables, deadlines, and other requests from your manager and team. In the negotiation process, you can mention other upsides to having a presence in another time zone. Logging on at different hours, for example, can help with meeting tight deadlines, expanding clientele, or providing more comprehensive customer service. If your company lacks the proper hardware, software, and IT and HR staff to support remote work, explain how investing in and building out this infrastructure could benefit everyone—and the bottom line. “If there’s a category of talent that the organization is currently struggling to recruit, often tying this pitch to that pain point can be helpful,” Woolley says. “If they are set up to enable people to work remotely, then they could hire more people from different locations. And you can just cite survey after survey about either current job seekers or people who are willing to relocate, and how the remote work option is hugely attractive and something that they value much more than many other aspects of the job.” 3. JOB SEARCH Maybe your company doesn’t allow for remote work or have systems in place for workers who live outside the U.S. If being abroad is truly your dream, you may have to job hunt for something that’s more accommodating (or, alternatively, become your own boss). Before applying to a role, get clear on the eligibility requirements, such as what the visa or work permit process is like and whether the company sponsors it. “The easiest path will be if you find an organization that already operates mostly remotely or primarily remotely—they’re already set up to deal with somebody like that,” Woolley says, adding, “If this is an organization that isn’t even willing to discuss it when they’re in the mode of wanting to recruit you, that’s a pretty strong signal.” Talking to locals or expats can help with deciphering the logistics, finding open jobs, and vetting a place for quality of life. “Start building out a network of people who are based in that area,” Andrada says, by leveraging LinkedIn or other online communities. Next, tailor your application to the country’s standard. For example, a CV or bio might be more common and acceptable than a traditional résumé. In the offer stage, do your research around cost of living and market averages to accurately gauge how much income you’ll need to settle in comfortably—and, Andrada says, expect that that number might be lower than what you make in the U.S. THE QUALITIES EMPLOYEES NEED TO WORK ABROAD No matter your situation, whether you want to change home bases in your current job or find a new company with abroad access, Andrada says these two qualities make for prime global candidates: technical skills and what she calls “tribal knowledge.” The ideal technical skill set will vary depending on your industry, but generally, companies want to move (or hire) employees whose niche expertise can’t easily be replicated or found elsewhere—for example, generative AI or data analysis. “If you have a skill set that is in short supply at the moment, those people are always able to make more demands,” Woolley says. Tribal knowledge, as Andrada defines it, is rooted experience and know-how often only found in veteran staffers at a certain company. Having been a part of the growth and expansion of a company for some time, and fostered strong relationships and a reputation, and then“bring[ing] that to another part of the world, is really valuable for these globally based companies,” she says. Organizations are more likely to sponsor your visa if your “unique set of knowledge” can’t be found locally in that region, she adds. Beyond these two attributes, you must be a high performer. “It’s just easier when you’re already producing,” Andrada says. For job seekers, this means being able to clearly and confidently showcase your track record and how you’ve uniquely contributed to the success of past companies and teams, global or not. Ultimately, Woolley says, going abroad starts with being in the right working environment. “Find the organization that will support you in doing this and ideally even recognize how it’s valuable to them,” she says. “Because then they will probably provide a bunch of [resources] that would be helpful in transitioning to this new location, maybe even helping you move, maybe even providing some local supports as you get set up in the new place.” And when it finally happens, give yourself time and patience to fully adjust. “You just set yourself up for frustration,” she adds, if you expect settling in to take only a couple of days. View the full article

Adam Galinsky is a social psychologist and professor of leadership and tthics at Columbia Business School. He conducts behavioral science research, having published more than 200 scientific articles. He has been a damage expert in numerous defamation cases and is also a producer on two documentaries shortlisted for Best Documentary at the Academy Awards. What’s the big idea? Every leader leaves their mark on the hearts and minds of a workforce. This can go one of two ways: Leaders can leave behind a legacy of inspiration, or infuriation. Based on thousands of perspectives collected from around the globe, Adam created a systemic formula for choosing and earning the lasting impact you want to have on others. Below, Adam shares five key insights from his new book, Inspire: The Universal Path for Leading Yourself and Others. 1. Inspiring leadership is made up of three universal factors Inspiring and infuriating leaders exist on an enduring continuum that is made up of three universal factors. The exact same characteristics emerge in every culture and country across the globe. The three universal factors are: Being a Visionary, which represents how we see the world. Being an Exemplar of desired behavior, which represents how we are in the world. Being a Mentor, which represents how we interact with others in the world. We can inspire others through our words, actions, and interactions. There are three universal factors because each one fulfills a fundamental human need: Being Visionary fulfills the need for meaning and purpose. Being an Exemplar fulfills the need for protection and passion. Being a Mentor fulfills the need for belonging and status. These universal dimensions are demonstrated by a remarkable pilot, Tammie Jo Shults. She was the captain of Southwest Airlines 1380, traveling from New York to Dallas when an engine exploded and tore a hole in the side of her plane. During the crisis, Tammie Jo was visionary, helping her passengers understand what was happening. As the plane was descending, she gave her passengers a reassuring WHY: “We are NOT going down, we are going to Philadelphia.” Those simple words transformed the cabin from pure panic to possibility. After Tammie Jo amazingly landed her plane with no additional injuries, an EMT evaluated her, asking, “How do you get through security?” When Shults looked confused, he replied, “How did your nerves of steel not set off the metal detector? You’re completely calm.” Throughout the crisis, she was an exemplar, a calm and courageous protector. After the plane landed, Tammie Jo Shults went row by row, making sure her passengers were okay. She understood her role as mentor, to not only protect but also to comfort her passengers. 2. Both inspiring and infuriating leaders are a big deal Leaders either inspire or infuriate because their behavior greatly impacts others. I call this the Leadership Amplification Effect. When we are in a position of leadership, all our words and expressions—positive and negative—get amplified. Constructive comments feel like humiliating criticism when they come from a leader. The phrase “I need to talk to you” sends shivers down our spine when it comes from our boss. And when leaders don’t respond to our queries, their silence can feel deafening. But it’s not all bad news. When a leader compliments or shares credit with others, it becomes glorious praise. The Leader Amplification Effect occurs because when we are in a position of leadership, all eyes are on us. We are onstage. That means all our utterances, gestures, and interactions are intensely attended to and scrutinized. As my research shows, attention amplifies the impact of any stimulus and intensifies our reactions to it. “We will have an impact, whether we like it or not.” The Leader Amplification Effect tells us that leaders rarely produce neutral reactions. That means we will have an impact, whether we like it or not. However, we have control over the type of impact. We always have a choice of whether we inspire or infuriate. We have control over the words we use and the visions we set. We can be better exemplars by regulating our emotions and tapping into our passion. And we have the capacity to be a motivating mentor by empowering and elevating others. 3. Inspiring leaders are made, not born We are not born as inspiring or infuriating individuals. Rather, our current behavior inspires or infuriates us. Because there is a universal and systematic set of inspiring attributes, those skills can be taught, nurtured, and developed. Let’s consider how we can become more visionary. We must present the right message in the right way at the right time. Inspiring leaders offer a big-picture, optimistic vision of the future, while infuriating leaders are small-minded pessimists. But how you present the vision matters, too. Inspiring leaders simplify their big ideas to their essence and then bring them to life with vivid language. For example, “make our customers satisfied” is not as motivating as “make our customers smile” because we can viscerally see and feel that smile. My research with Vita Akstinaitė shows that politicians who use more visual language in their nomination speeches are more likely to be elected. Equally important is when you present your vision. You want to present it again and again and again because repetition increases clarity and understanding. When Blaine Horton and I analyzed TED Talk viewership and investments in entrepreneurial pitches, we found that repeating a core idea was the key to success. So, how can we become more visionary? We can do so by attending to our core values. In one of my recent studies, unemployed individuals who contemplated their values for 15 minutes were twice as likely to find a job over the next two months as those who didn’t. Reflecting on our core values helps us see the big picture and be more hopeful. To be more visionary, we can also practice simplifying and visualizing our messages. Similarly, we can guide ourselves to be more calm and courageous protectors through daily practices like meditation and visualization. And we can be better mentors by training ourselves to let go of the reins and stop micromanaging others. 4. Inspire people by thinking like an architect Just as an architect designs a building to produce specific reactions within people and facilitate certain interactions, we can design policies and protocols to encourage desirable responses and behaviors. As leaders, we are affecting people even when we’re not present. The policies and processes we set up influence people daily, encouraging some actions while discouraging others. Let’s consider designing a weekly meeting. The goal of many meetings is to learn from each other so we can make wiser decisions and produce more innovative ideas. We could take a laissez-faire approach, believing that a lack of constraints will unleash creative insights. But that design choice often invites chaos, conflict, and inefficiencies, where the loudest people reign supreme. Making wise decisions requires staying on track and encouraging participation. Thinking like an architect helps us be more visionary by recognizing the need to craft a clear and well-thought-out agenda. It helps us solve an offshoot of the Leader Amplification Effect: the Leader Silencing Effect, where authority silences other voices. One design choice we can make is when to speak. When we speak first as a leader, it sets a powerful anchor that can weigh the whole discussion down and make it harder for people to share their perspectives, especially if it doesn’t align with what we just said. In contrast, when a leader speaks last, others feel free to share their thoughts. Similarly, what we wear can reinforce or reduce the Leader Silencing Effect. During mission debriefs in the U.S. Army, one thing is left outside the room: uniforms. The military needs every perspective to ensure a full understanding of the completed mission, so they reduce rank differences by having these discussions in civilian clothing. “When we speak first as a leader, it sets a powerful anchor that can weigh the whole discussion down.” We can take the idea of empowerment one step further by designing a rotational system of responsibility for meetings. Sherry Wu of UCLA has found that letting workers run a 20-minute weekly meeting not only increases their satisfaction but also boosts their productivity. That’s how I run my doctoral seminars: Each week, a different student co-leads the class discussion with me. Thinking like an architect can also help us resolve conflict. By establishing voting rules in advance, my colleagues and I reduced the discord that had permeated our hiring meetings. Similarly, I turned my warring sons into more loving siblings simply by changing their drop-off order at school—dropping my more impatient son off first made all the difference. 5. Reflecting makes you more inspiring Reflecting on times when we felt powerful and in control turns us into inspiring exemplars: it makes us more authentically confident, calm, and courageous. And when we want to improve at elevating and empathizing with others, we can reflect on their perspectives. Two broad but powerful reflections can help us stay on the inspiring end of the continuum. Once a month, reflect on when you were inspiring and also when you may have been infuriating. When did you see, or fail to see, the big picture? When were you anxious and cowardly rather than calm and courageous? When did you empower, elevate, and empathize with others—or fail to do so? Second, engage in the same reflection I’ve shared with thousands of people worldwide. Consider an inspiring leader from your own life and how you can emulate that person to foster a similar sense of hope and possibility. Also, reflect on a frustrating leader and how to avoid making others’ blood boil. Finally, turn those reflections into practice. Here is one daily practice guaranteed to inspire those around you: Every morning, reach out to at least one person and praise a task that person did well or thank them for making your life easier. A CEO told me it takes him only minutes over his daily coffee to brighten someone’s day. But here’s the amazing part—it brightens his day too. His morning missives receive effusive replies that put a spring in his step. His daily gestures have created a virtuous cycle of inspiration. This article originally appeared in Next Big Idea Club magazine and is reprinted with permission. View the full article

When Moath al-Alwi left Guantánamo Bay for resettlement in Oman, accompanying him on his journey was a cache of artwork he created during more than two decades of detention. Al-Alwi was detainee number “028”—an indication that he was one of the first to arrive at the U.S. military prison off Cuba after it opened in January 2002. His departure from the detention center on January 6, 2025, along with 10 fellow inmates, was part of an effort to reduce the prison’s population before the end of President Joe Biden’s term. For al-Alwi, it meant freedom not only for himself, but also for his artwork. While not all detainees shared his passion, creating art was not an uncommon pursuit inside Guantánamo—indeed it has been a feature, formally and informally, of the detention center since its opening more than 20 years ago. As editors of the recently published book The Guantánamo Artwork and Testimony of Moath al-Alwi: Deaf Walls Speak, we found that art-making in Guantánamo was more than self-expression; it became a testament to detainees’ emotions and experiences and influenced relationships inside the detention center. Examining the art offers unique ways of understanding conditions inside the facility. Art from tea bags and toilet paper Detained without charge or trial for 23 years, al-Alwi was first cleared for release in December 2021. Due to unstable conditions in his home country of Yemen, however, his transfer was subject to finding another country for resettlement. Scheduled for release in early October 2023, he and 10 other Yemeni detainees were further delayed when the Biden administration canceled the flight due to concerns over the political climate after the October 7 attacks in Israel. During his detention, al-Alwi suffered abuse and ill treatment, including forced feedings. Making art was a way for him, and others, to survive and assert their humanity, he said. Along with fellow former detainees Sabri al-Qurashi, Ahmed Rabbani, Muhammad Ansi, and Khalid Qasim, among others, al-Alwi became an accomplished artist while being held. His work was featured in several art shows and in a New York Times opinion documentary short. During the detention center’s early years, these men used whatever materials were at hand to create artwork—the edge of a tea bag to write on toilet paper, an apple stem to imprint floral and geometric patterns and poems onto Styrofoam cups, which the authorities would destroy after each meal. In 2010, the Obama administration began offering art classes at Guantánamo in an attempt to show the world they were treating prisoners humanely and helping them occupy their time. However, those attending were given only rudimentary supplies. And they were subjected to invasive body searches to and from class and initially shackled to the floor, with one hand chained to the table, throughout each session. Furthermore, the subject matter for their art was restricted—detainees were forbidden from representing certain aspects of their detention, and all artwork was subject to approval and risked being destroyed. Despite this, many detainees participated in the classes for camaraderie and the opportunity to engage in some form of creative expression. A window to freedom Making art served many purposes. Mansoor Adayfi, a former Guantánamo Bay detainee and author of Don’t Forget Us Here: Lost and Found at Guantanamo, wrote in his contribution to the book on al-Alwi that initially, “we painted what we missed: the beautiful blue sky, the sea, stars. We painted our fear, hope and dreams.” Those who have been transferred from Guantánamo describe the art as a way to express their appreciation for culture, the natural world, and their families while imprisoned by a regime that consistently characterized them as violent and inhuman. The Statue of Liberty became a frequent motif Guantánamo artists deployed to communicate the betrayal of U.S. laws and ideals. Often, Lady Liberty was depicted in distress—drowning, shackled or hooded. For Sabri al-Qurashi, the symbol of freedom under duress represented his own condition when he painted it. “I am in prison, not free, and without any rights,” he told us. Other times, the artwork responded directly to the men’s day-to-day conditions of confinement. One of al-Alwi’s early pieces was a model of a three-dimensional window. Approximately 40-by-55 inches, the window was filled in with images carefully torn from nature and travel magazines, and layered to create depth, so that it appeared to look out on an island with a house with palm and coconut trees made from twisted pieces of rope and soap. Al-Alwi was initially allowed to keep it in his windowless cell, and fellow detainees and guards would visit to “look out” the window. But as far as we know, it was eventually lost or destroyed in a prison raid. Art as representation and respite In another example of how artwork can be an expression of what former detainees call their “brotherhood,” Khalid Qasim, who was imprisoned at the age of 23 and held for more than two decades before being transferred alongside al-Alwi, mixed coffee grounds and coarse sand to create a series of nine textured, evocative paintings to memorialize each of the nine men who died while held at Guantánamo. Especially in periods when camp rules allowed detainees to create artwork in their cells, the artists’ use of prison detritus and found objects made the artwork more than simply a depiction of what the men lacked, desired or imagined. Artwork helped create an alternative forum for the men’s experiences, especially for those artists who, along with the vast majority of Guantánamo’s 779 detainees, never faced charge or trial. The pieces served as symbols and metaphors of the detainees’ experiences. For example, al-Alwi describes his 2015 large model ship, The Ark, as fighting against the waves of an imagined, threatening sea. In creating it, he wrote, “I felt I was rescuing myself.” Constructed out of the materials of his imprisonment, the work also points to the conditions of his daily life in Guantánamo. Made from the strands of mops, unraveled prayer cap and T-shirt threads, bottle caps, bits of sponges, and cardboard from meal packaging, al-Alwi’s ships—he went on to create at least seven—reveal both his artistic ingenuity and his circumstances. Guantánamo artists talk about the artwork as being imprisoned like them and subjected to the same restrictions and seemingly arbitrary processes of approval or disappearance. The transfer to Oman of al-Alwi and his artwork releases both from those processes. It also creates an opportunity to inform the public about what Guantánamo meant to those who were held there, and to the 15 men who remain. Alexandra Moore is a professor of human rights in literary and cultural studies at Binghamton University, State University of New York. Elizabeth Swanson is a professor of arts and humanities at Babson College. This article is republished from The Conversation under a Creative Commons license. Read the original article. View the full article

Beijing attacks ‘arbitrary’ moves and says it will file WTO lawsuit View the full article

Andrey Guryev brings action against Alexander Gorbachev over legal costs stemming from High Court disputeView the full article

Auction house pulls back on ‘Buy Now’ venture for instant purchases of fine art and luxury items View the full article

The switch from centralised, closed models to open source democratises AI access for everyoneView the full article

Carmakers, food producers and construction will be worst hit but consumers across the US, Mexico and Canada could suffer View the full article

Metricool has released its 2025 Social Media Report, produced in collaboration with Statista, analyzing over 1 million social media accounts and 21 million posts across eight major platforms. The report identifies key trends shaping the digital landscape, from the growing influence of video content to shifting audience preferences across platforms. LinkedIn and Pinterest Show Strong Growth, TikTok Maintains Lead The report highlights LinkedIn’s rise as an engagement leader, with interactions increasing by 99% year-over-year and a 122% jump in clicks. The platform’s 13.87% engagement rate signals its expansion beyond professional networking, attracting influencers and content creators. Pinterest also saw a significant surge, with a 55% increase in clicks since 2023, reinforcing its position as a top platform for brands focused on visual discovery and referral traffic. TikTok continues to dominate audience engagement, with total watch time up 71% year-over-year, solidifying its role as the leading video-first platform influencing digital culture. Platform Performance Breakdown YouTube remains the top platform for visibility, averaging 82 impressions per account, maintaining its stronghold in video content despite increased competition. Facebook’s post reach dropped by 41%, but conversions are growing, with Reels’ reach up 13% and a 6.7% engagement rate, keeping the platform relevant for brand marketing. X (formerly Twitter) regained traction, reporting a 50% increase in impressions, indicating resilience despite platform uncertainties. Instagram showed mixed results, with post reach up 21% but Reels reach down 20%, suggesting shifting algorithm priorities toward traditional posts. Twitch saw an 88% decline in subscriptions, raising concerns about its long-term appeal in the competitive streaming market. The report underscores shifting generational preferences, with Gen Z favoring TikTok, Millennials engaging more on Instagram, and professionals turning to LinkedIn. These patterns reinforce the necessity of platform-specific strategies for brands and marketers. “Social media strategies are being reshaped by the rapid rise of video-first platforms and shifting user demographics,” said Juan Pablo Tejela, CEO and Co-Founder of Metricool. “As highlighted in our 2025 Social Media Report, platforms like LinkedIn and Pinterest are seeing explosive engagement, and it’s clear that the future of social media will prioritize authentic, video-driven connections that resonate across all generations. Engagement remains crucial, with algorithms prioritizing posts with high interaction, making it essential for brands to connect where their audiences are most active and engaged.” Metricool’s analysis covered 1,387,457 social media accounts and 21,211,149 posts from September 2023 to September 2024, spanning TikTok, Instagram, YouTube, X, LinkedIn, Pinterest, Facebook, and Twitch. Image: Envato This article, "Metricool’s 2025 Social Media Report Highlights LinkedIn and Pinterest Growth Amid TikTok’s Continued Dominance" was first published on Small Business Trends View the full article

Metricool has released its 2025 Social Media Report, produced in collaboration with Statista, analyzing over 1 million social media accounts and 21 million posts across eight major platforms. The report identifies key trends shaping the digital landscape, from the growing influence of video content to shifting audience preferences across platforms. LinkedIn and Pinterest Show Strong Growth, TikTok Maintains Lead The report highlights LinkedIn’s rise as an engagement leader, with interactions increasing by 99% year-over-year and a 122% jump in clicks. The platform’s 13.87% engagement rate signals its expansion beyond professional networking, attracting influencers and content creators. Pinterest also saw a significant surge, with a 55% increase in clicks since 2023, reinforcing its position as a top platform for brands focused on visual discovery and referral traffic. TikTok continues to dominate audience engagement, with total watch time up 71% year-over-year, solidifying its role as the leading video-first platform influencing digital culture. Platform Performance Breakdown YouTube remains the top platform for visibility, averaging 82 impressions per account, maintaining its stronghold in video content despite increased competition. Facebook’s post reach dropped by 41%, but conversions are growing, with Reels’ reach up 13% and a 6.7% engagement rate, keeping the platform relevant for brand marketing. X (formerly Twitter) regained traction, reporting a 50% increase in impressions, indicating resilience despite platform uncertainties. Instagram showed mixed results, with post reach up 21% but Reels reach down 20%, suggesting shifting algorithm priorities toward traditional posts. Twitch saw an 88% decline in subscriptions, raising concerns about its long-term appeal in the competitive streaming market. The report underscores shifting generational preferences, with Gen Z favoring TikTok, Millennials engaging more on Instagram, and professionals turning to LinkedIn. These patterns reinforce the necessity of platform-specific strategies for brands and marketers. “Social media strategies are being reshaped by the rapid rise of video-first platforms and shifting user demographics,” said Juan Pablo Tejela, CEO and Co-Founder of Metricool. “As highlighted in our 2025 Social Media Report, platforms like LinkedIn and Pinterest are seeing explosive engagement, and it’s clear that the future of social media will prioritize authentic, video-driven connections that resonate across all generations. Engagement remains crucial, with algorithms prioritizing posts with high interaction, making it essential for brands to connect where their audiences are most active and engaged.” Metricool’s analysis covered 1,387,457 social media accounts and 21,211,149 posts from September 2023 to September 2024, spanning TikTok, Instagram, YouTube, X, LinkedIn, Pinterest, Facebook, and Twitch. Image: Envato This article, "Metricool’s 2025 Social Media Report Highlights LinkedIn and Pinterest Growth Amid TikTok’s Continued Dominance" was first published on Small Business Trends View the full article

US president’s move threatens to disrupt North America’s economy and overturn decades of integrationView the full article

President bets he can achieve his aims through tariffs without igniting inflation or a sell-off in American stocksView the full article

US president fires starting gun on possible trade war with levies of up to 25% on goods imported from trading partnersView the full article

HERE'S A LOOK at some of the best leadership books to be released in February 2025 curated just for you. Be sure to check out the other great titles being offered this month. Rethinking Work: Seismic Changes in the Where, When, and Why by Rishad Tobaccowala We have a choice. We can either be reactive and struggle to adjust to transformational events on the fly, or we can be proactive and control the narrative—reinventing work to align with the evolving environment. Futurist Rishad Tobaccowala has had a highly successful career because he has anticipated and capitalized on emerging trends. In Rethinking Work, Rishad outlines the reasons why being proactive in this era of unprecedented change is the only way organizations will survive and thrive. Schools, banks, law firms, startups, medical offices—every sector will be affected by the current or soon-to-be-emerging trends and events that Rishad describes in this invaluable guide. Win the Inside Game: How to Move from Surviving to Thriving, and Free Yourself Up to Perform by Steve Magness Striving is in our nature. We all want to perform at our best when it matters most. But in today's world, many of us feel lost, isolated, and overwhelmed. We're paralyzed by fear of failure and crippled by insecurities. We know we’re capable of more, yet no matter how hard we try, we feel stuck. We’ve been sold the wrong path to success and personal fulfillment. Renowned performance scientist and bestselling author Steve Magness reveals a new path to sustainable success. In Win the Inside Game, Magness argues that excellence and fulfillment are not mutually exclusive; we can and should seek both. When we measure our worth by our achievements, cement our identities to our careers, and sacrifice our well-being in the pursuit of external validation, it backfires. We default to survival mode, protecting and defending ourselves instead of being free to fulfill our potential. Leading Giants: A Leader's Guide to Maximum Influence by Dave Durand It is clear that leaders carry a unique burden. They are guardians, protectors, providers, judges, helpers, servants, counselors, and friends—and only a Giant can be all those at one time. Leaders live and die with the actual results they create, and those results are created with and through the people they lead. Dave Durand spent 35 years founding, leading, and selling companies with more than a billion dollars in combined sales. Having led hundreds of thousands of people, he distills leadership influence in usable terms. Leading Giants illuminates the Four Superpowers of a Leader. By learning to serve as a firm but compassionate leader in the face of challenges, you will do the right things, the right way, and reap the benefits. Because life and business are full of good people engaging in destructive behavior, influencing people away from vice and into virtue is the key to peace, prosperity, and profits.. Perseverance > Endurance: Lead with Resilience. Grow Through Adversity. Win Together. by Blayne Smith and Brandon Young Doubt crushes leaders daily—from GMs of Fortune 500 companies to small business owners across America, leaders nearly unanimously express doubt and fear in the face of adversity. This makes sense because adversity pushes us beyond our training and our comfort zones. We cannot simply put our heads down and endure. Instead, learn that adversity is an opportunity for transformation. When faced with circumstances beyond our capabilities, we must grow to meet those challenges by persevering and becoming the person the situation requires. Perseverance > Endurance empowers leaders to gain clarity of their challenges, apply sound leadership principles, and lead their teams to victory by embracing the five factors of perseverance: Change, Uncertainty, Acceptance, Choice, and Growth. How to Get Along with Anyone: The Playbook for Predicting and Preventing Conflict at Work and at Home by John Eliot and Jim Guinn The average American worker spends 156 hours a year engaged in the kind of moderate to intense workplace conflict that adversely impacts both performance and health. Managers spend twenty-six percent of their time addressing and resolving conflicts on their team—the equivalent of chewing up one full workday each week. But what if it didn’t need to be like this? What if there was a way to spend less time in stressfully interpersonal interactions and more time on the things that really matter? Because our responses are ingrained byproducts of the subcortex in action, they are predictable. If you can predict how someone will behave in a given circumstance, you can formulate a game plan. The secret is knowing which of the five patterns someone is wired to use when smacked by a stressor. You’ll learn the formula for identifying your coworkers’ and loved ones’ conflict styles and how to use this information to foster better communication and more effective, collaboration. Masters of Uncertainty: The Navy SEAL Way to Turn Stress into Success for You and Your Team by Rich Diviney For Navy SEALs, success isn’t only a result of relentless training in shooting, skydiving, or combat—though they are experts at those things. The real secret is that they use their innate human capabilities to turn the stress of uncertain and complex situations to their advantage. In more than two decades of leading, training, and coaching top performers, Rich Diviney (founder of the SEALs’ “Mind Gym”) discovered that while most elite individuals and teams are masters of preparation, it’s how they react when things don’t go according to plan that separates the best from the rest. They are Masters of Uncertainty. For bulk orders call 1-626-441-2024 * * * “You can't think well without writing well, and you can't write well without reading well. And I mean that last "well" in both senses. You have to be good at reading, and read good things.” — Paul Graham, Y Combinator co-founder * * * Follow us on Instagram and X for additional leadership and personal development ideas. View the full article

With the Meta Business Suite (formerly known as Facebook Business Suite), businesses have a simple and efficient way to manage their social media presence. The suite allows users to easily create and manage a business account, Facebook page, analytics tools, and more, all from one platform. In this article, we’ll look at how to best use the new Meta Business Suite to get the most out of your social media presence. Let’s get started! What is Meta Business Suite and How Does it Work? The Meta Business Suite serves as a centralized hub for managing your social media presence on Facebook and Instagram. This platform combines essential tools for social media management, enabling you to engage with your target audience and enhance your business outcomes. With the Meta Business Suite, you have the flexibility to access it from either your desktop or mobile device. You can easily monitor and respond to notifications, as well as create and schedule posts, stories, and ads for your own business. The platform also provides valuable insights to help you optimize your marketing efforts. Millennials are still using Facebook more than any other social media site. This means that businesses need to be active on Facebook, and the Meta Business Suite makes it easier than ever to accomplish this. So, if you sell products or have a service business, consider the Meta Business Suite to help you maximize your reach and engagement. Taking this step will assist you in expanding your business and fostering customer loyalty, which will subsequently lead to an increase in your revenue. What Happened to the Facebook Business Suite? The previously known Facebook company is now operating under the name Meta, and the Facebook Business Suite has been renamed the Meta Business Suite. Despite the change in their company name, they remain dedicated to providing the same products, including the Meta-branded Facebook app. How to Set Up the Meta Business Suite The Meta Business Suite is an incredibly powerful tool for managing a business’s online presence. Setting it up can seem intimidating, but with the step-by-step guide below, you’ll be able to take full advantage of the suite’s features and start building your brand in no time. Step 1: Access the Meta Business Suite To access the Meta Business Suite, visit business.facebook.com. If you do not have a Meta business account, you will need to create a free account. Once you have an account and are logged in, you’ll need to create your business account. If you have an account and need to log in, click “Log In,” and you’ll end up on a page that looks like this: After logging in using either your Facebook or Instagram information, you’ll end up on a screen that should look similar to this: Step 2: Create Your Business Page To fully utilize the Meta Business Suite, it’s essential to create at least one Facebook Page if you do not already have one. To get started, click on “Settings.” Click on “Business Assets,” then “Pages,” and click “Add Pages.” You can create a page, claim an existing page, or request to share a page. For this guide, we’ll select “Create a new Facebook Page.” Fill in the requested information as shown in the images below, and your Page is good to go! Now that we’ve gone through how to create a Facebook business page, make sure to research tips for your small business Facebook page to make the most of yours. Small business Facebook pages can be a great marketing tool. Step 3: Begin Using Suite Features Now that your business account and new Page are set up, you’re not able to start using all of the features the Meta Business Suite has to offer. Click “Home” in the left menu to return you back to your account’s home where you should see your newly created Facebook Business Page. If you don’t see it, try refreshing your screen. How to Use Meta Business Suite and Scale Your Facebook Business Page Using the Meta Business Suite and Facebook Business Pages can help you maximize your business’s online presence. Read on to find out how to use the suite and get the most out of your Facebook Page… Step 1: Edit Your Page The first thing you’ll want to do with your new Facebook Page is to upload a profile picture and cover photo for branding. Click “Edit” as shown below to do so… Step 2: Create a Post To create your posts, click on “Create post,” enter your post details, and click “Publish” when you’re ready. Step 3: Boost Your Post To get more eyeballs and engagement on your post and page, you can choose to boost your post when you create it or at a later time. To boost your post at the time of creation, you would click the “Boost post” toggle as shown above. To boost your post after it’s been created, click on “Boost post” below the post you’re looking to promote, as shown below. Modify audience details, your start date, and your budget. Once you’re satisfied with your ad settings, click on “Boost post now.” Step 4: Get Page Likes and Post Engagement To get likes on your Facebook Page and likes, comments, and shares on your posts, you may want to consider running other Facebook ads. To do so, click on “Ads” in the left margin, then “Create ad.” You’ll need to choose from the available goals and set up your specific ad campaign on the next page. If you’re marketing on Instagram, use popular hashtags on Instagram that are relevant to what you’re promoting. For example, if you’d like to get more Page Likes, click on “Promote your Page” and fill in the details to start your campaign. Meta Business Suite Tools to Use From content creation and optimization to analytics and insights, there’s something for everyone. Read on to find out how you can make the suite work for you and take your business to the next level. A/B split testing Meta Business Suite offers an invaluable feature to its users: A/B testing. With this tool, businesses and creators can experiment with two variations of a post and determine which version performs better. A/B testing is an essential aspect of marketing, as it provides valuable insights into what makes a post successful. By comparing two variations of a post, users can pinpoint the exact elements that contributed to its success. Did the copy resonate with the audience? Was it visually appealing graphics? Did a certain format or hashtag help? All of these questions can be answered through A/B testing. With the results from A/B testing, users can make informed decisions for their future posts. This feature not only saves time and effort but also helps optimize content for better performance and results. In short, A/B testing with Meta Business Suite can provide a strategic advantage for businesses and personal brands looking to succeed on Facebook and Instagram. Commerce Manager In Meta Business Suite, accessing the commerce features is as simple as clicking on the “Commerce” option located on the left-side menu. Once selected, you will be redirected to the Commerce Manager where you can set up your very own shop or catalog. This is a great way to showcase your products and make them easily accessible to potential customers. By setting up your shop or catalog, you can make the purchasing process seamless and effortless for your customers. They can even access your products through Facebook, Instagram, and Instagram stories. To take advantage of this feature, it is recommended to connect your Instagram account to your Facebook page. This integration will make it even easier for your customers to discover and purchase your products. Content Planner The use of a content calendar is a crucial aspect of effective social media management. Having a clear overview of your content plan for the month or week can greatly help in the organization of your marketing strategy. Meta Business Suite provides a solution to this need by offering its users the ability to schedule posts and stories for both Facebook and Instagram directly within the platform. This eliminates the need for additional and often expensive scheduling tools, freeing up valuable time and resources to focus on other important aspects of your business. Create and manage ads If you’re looking to boost your online presence, reach a wider audience, and create greater brand recognition, Facebook advertising can be a powerful tool. And with the Meta Business Suite, managing your ads has never been easier. With the Ads Manager, you can create and manage all of your ads in one place, choosing your goals, ad placements, and budget with ease. So, make sure you take advantage of this convenient and effective tool to begin promoting your business using Facebook ads and help you reach your business objectives. Insights Meta Business Suite provides its users with insightful analytics and metrics to help evaluate the performance of their Facebook page. The platform’s Insights feature allows you to set specific goals for your page and track your progress over time. This makes it easier to identify what strategies are working and what areas need improvement. By analyzing the results of your page, you can make data-driven decisions to enhance your social media marketing efforts and reach your desired outcomes. Whether you’re managing a personal brand or a large business, this tool is a valuable asset in maximizing your online presence and achieving your goals. Collaborate with others The “All Tools” section on the left side of your Meta Business Suite dashboard provides the opportunity to manage and organize access to your business account. With this feature, you can invite your team members, delegate tasks, and assign specific roles to each person involved in managing your accounts. The available roles include Admin, Editor, Advertiser, Analyst, and Moderator, all designed to protect your valuable assets and customer base. This is a critical component for ensuring the security and success of your business’s social media presence. Benchmarking tool This tool, found within Insights, allows you to see how your page is performing in relation to others in your industry and make changes to your strategy to improve your reach and engagement. Furthermore, you can examine the kinds of content your competitors are sharing and identify what is effective for them. This information can be used to create content that resonates with your audience and sets you apart from your competitors. With the Benchmarking tool, you can stay ahead of the game and continually improve your social media presence on Facebook and Instagram. How to Make the Most of Meta Business Suite Insights Before you dive into the insights, it’s important to have a clear understanding of what you want to achieve with your social media pages. This could include increasing engagement, reaching new audiences, or boosting sales. Here are some expanded tips for utilizing Meta Business Suite Insights: Establish Clear Goals: Before you delve into the insights, you should have clear objectives for your social media presence. Are you aiming to increase engagement, reach new audiences, or drive sales? These goals will guide your focus on the metrics that truly matter and help you make data-driven decisions. Focus on Relevant Metrics: The Meta Business Suite Insights provides a range of key performance indicators (KPIs) like reach, engagement, and audience demographics. Select and closely monitor the metrics that align with your goals to measure your progress and pinpoint areas for improvement. Understand Your Audience: The demographics of your audience play a crucial role in tailoring content that resonates with them. Utilize the audience insights to gain a deep understanding of your followers – their interests, their active times on social media, and other relevant information. Monitor Trends Over Time: The Insights tool in the Meta Business Suite enables you to assess your performance over time. This is crucial for recognizing trends and gaining insights into how your content and strategies are performing in the long run. Competitive Analysis: Additionally, this tool allows you to compare your performance against competitors. Understanding how you stand against others in your industry can provide valuable insights and help you adjust your strategies accordingly. Informed Strategy Adjustments: Use the insights generated to adapt and refine your social media strategy. Identify what’s working well and what isn’t, and modify your approach based on this feedback. The continuous use of insights will help you fine-tune your strategy for better results. Frequent Review: Regularly review and analyze your insights data. This is not a one-time process but rather an ongoing one. Frequent reviews help you stay updated on the effectiveness of your strategies and allow for timely adjustments. Leverage Insights for Ad Campaigns: If you run ad campaigns, use the insights to understand which content performs better and has higher engagement rates. This can help you create more effective ad campaigns that resonate with your audience and yield better returns. By properly utilizing Meta Business Suite Insights, you can make data-driven decisions, create engaging content, and optimize your social media strategy. It’s about learning, adapting, and growing your social media presence based on your unique audience and business goals. Meta Business Suite Vs. Facebook Business Manager Meta Business Suite and Facebook Business Manager are management platforms for businesses to access Meta accounts and tools, with the ability to separate professional tasks from personal Facebook use and collaborate with colleagues and clients. The main differences lie in the age of the platforms—Business Manager is the older option—and their accessibility; Business Manager is available only on desktop, while the meta business suite offers both desktop and mobile access. Business Suite manages both Facebook and Instagram business accounts, while Business Manager focuses on Facebook pages and ad accounts. FeatureMeta Business SuiteFacebook Business Manager AgeNewerOlder AccessibilityDesktop and MobileDesktop Only Platforms ManagedFacebook and InstagramFacebook Only Collaboration FeaturesAllows collaboration with colleagues and clientsAllows collaboration with colleagues and clients Separation from Personal AccountsProvides clear separation from personal Facebook useProvides clear separation from personal Facebook use Ad ManagementYesYes Cross-PostingYes (Facebook and Instagram)Limited (mainly Facebook) Inbox ManagementYesYes Insights and ReportsComprehensive (for both Facebook and Instagram)Limited (mainly for Facebook) Meta Business Suite Tips Whether you’re looking to grow your brand, engage with customers, or track performance, the Meta Business Suite has new tools for creators to make money on Facebook and Instagram. To help you get the most out of the platform, here are six tips for optimizing your Meta Business Suite strategy: Create a content calendar: Planning your content in advance helps ensure a consistent and coherent brand message. Use the Meta Business Suite to schedule posts and keep your content organized. This will help streamline your content creation process. Leverage Facebook Ads: The Meta Business Suite makes it easy to create and manage Facebook Ads campaigns. Use this feature to reach new audiences and drive conversions. Doing so allows you to reach potential customers who may not be familiar with your brand. You can also use ads to increase the visibility of certain products or services that you want to promote. Track your results: The Meta Business Suite provides detailed analytics that can help you measure the success of your social media efforts. Use this data to make informed decisions about what works and what doesn’t. Engage with your audience: To foster a relationship with your customers, promptly respond to comments and messages. The Meta Business Suite simplifies the process of tracking all your interactions. Integrate with other tools: The Meta Business Suite integrates with a range of other tools, such as Hootsuite and Buffer, to help streamline your workflow and save time. Try new features: The Meta Business Suite is constantly adding new features and updates, so be sure to try them out and see how they can benefit your business. Stay ahead of the curve and experiment with new ways to reach and engage your audience. Integrating Meta Business Suite with Other Marketing Tools In the dynamic world of digital marketing, the integration of various tools and platforms is crucial for creating a comprehensive and effective strategy. The Meta Business Suite, a powerful tool in its own right, can be significantly enhanced when combined with other marketing technologies. Here’s how you can integrate the Meta Business Suite with other marketing tools: CRM Integration: Connect your Customer Relationship Management (CRM) software with Meta Business Suite. This integration can provide a more holistic view of your customer interactions, enabling personalized marketing efforts and better customer service. Email Marketing Platforms: Link your email marketing platform with the Meta Business Suite. By doing this, you can create more cohesive campaigns that span social media and email, leveraging insights from both to optimize your overall marketing strategy. E-commerce Platforms: For businesses with an e-commerce presence, integrating your e-commerce platform with Meta Business Suite can streamline the process of showcasing products on Facebook and Instagram. This includes syncing your product catalog and using Meta’s shopping features to drive sales directly through social media. Analytics and Reporting Tools: While Meta Business Suite provides its own analytics, integrating it with additional analytics tools can offer deeper insights. This can help in understanding customer behavior across different digital platforms, not just on Meta-owned properties. Content Management Systems (CMS): If you use a CMS for your website or blog, integrating it with Meta Business Suite can simplify content sharing. Automate the process of posting new content from your website directly to your Facebook page or Instagram account. Advertising Tools: Leverage third-party advertising tools in conjunction with Meta Business Suite for more advanced advertising capabilities. This can include more detailed targeting, ad performance optimization, and cross-platform ad management. Social Media Management Tools: Tools like Hootsuite or Buffer can be integrated to manage posts and analyze data across multiple social platforms alongside Facebook and Instagram. This provides a more unified approach to managing all your social media channels. Measuring and Analyzing Social Media ROI with Meta Business Suite Measuring and analyzing social media ROI with Meta Business Suite involves defining specific goals like sales, website traffic, or engagement rates. The suite offers detailed analytics on engagement, reach, and conversion rates, allowing businesses to gauge the effectiveness of their content and campaigns. It’s crucial to compare the costs of social media efforts against the generated returns to calculate ROI accurately. The insights gained can inform future strategies, focusing on high-performing content and adjusting less effective tactics. Additionally, businesses should consider both quantitative measures, like sales, and qualitative aspects, like brand awareness, for a comprehensive understanding of social media ROI. Final Words The Meta Business Suite provides businesses with a powerful, streamlined tool to manage their online presence. With its intuitive dashboard and range of tools, it’s the perfect platform for businesses to create an efficient and effective social media campaign. Whether you’re new or experienced with using social media in this day and age, the Meta Business Suite is a great way to build your brand and engage with customers. Can you use Meta Business Suite and Business Manager simultaneously? Meta has introduced a new and improved platform, the Meta Business Suite, as a replacement for the older Meta Business Manager. Both platforms can’t be used simultaneously, but if you need to revert back to Business Manager, Meta does provide the option. Keep in mind that switching back will limit your ability to manage content scheduled in Business Suite, but the posts will still be published according to the planned schedule. What is Meta business suite for? Meta Business Suite is a comprehensive social media management solution designed to assist businesses in managing their Facebook and Instagram accounts. It’s an all-in-one platform that offers a native solution for businesses to streamline their social media efforts. From creating and scheduling content and responding to customer interactions to measuring the impact of campaigns, the Meta Business Suite has everything you need to effectively manage your social media presence. Businesses can also plan organic campaigns, run ads, and efficiently organize their digital assets. Do I need Meta business suite? Meta Business Suite is the ideal solution for streamlining and elevating your marketing efforts on Facebook and Instagram. This platform is designed to meet the needs of creators, personal brands, and businesses looking to improve their social media presence. If you’re aiming to expand your brand or enhance your reach, Meta Business Suite provides all the tools you need to thrive on social media. How can I access Meta Business Suite? To access Meta Business Suite, simply visit business.facebook.com on your desktop or download the app on your iOS or Android device. To fully utilize its features, connect both your Facebook Page and Instagram account within the platform. Whether you prefer the desktop version or the mobile app, the Meta Business Suite makes it easy to manage your social media presence from one central location. When is Facebook changing to Meta? On a specific date, Mark Zuckerberg’s Meta Platforms solidified its dedication to the Metaverse by changing its stock symbol from FB to META. The company, which owns Instagram, Messenger, and WhatsApp, made this change to align with its rebranding efforts. This move marked the end of the company’s association with its former name, Facebook, and signaled a new era for Meta Platforms. Image: Envato Elements This article, "How to Use the Meta Business Suite (Formerly Facebook Business Suite)" was first published on Small Business Trends View the full article

With the Meta Business Suite (formerly known as Facebook Business Suite), businesses have a simple and efficient way to manage their social media presence. The suite allows users to easily create and manage a business account, Facebook page, analytics tools, and more, all from one platform. In this article, we’ll look at how to best use the new Meta Business Suite to get the most out of your social media presence. Let’s get started! What is Meta Business Suite and How Does it Work? The Meta Business Suite serves as a centralized hub for managing your social media presence on Facebook and Instagram. This platform combines essential tools for social media management, enabling you to engage with your target audience and enhance your business outcomes. With the Meta Business Suite, you have the flexibility to access it from either your desktop or mobile device. You can easily monitor and respond to notifications, as well as create and schedule posts, stories, and ads for your own business. The platform also provides valuable insights to help you optimize your marketing efforts. Millennials are still using Facebook more than any other social media site. This means that businesses need to be active on Facebook, and the Meta Business Suite makes it easier than ever to accomplish this. So, if you sell products or have a service business, consider the Meta Business Suite to help you maximize your reach and engagement. Taking this step will assist you in expanding your business and fostering customer loyalty, which will subsequently lead to an increase in your revenue. What Happened to the Facebook Business Suite? The previously known Facebook company is now operating under the name Meta, and the Facebook Business Suite has been renamed the Meta Business Suite. Despite the change in their company name, they remain dedicated to providing the same products, including the Meta-branded Facebook app. How to Set Up the Meta Business Suite The Meta Business Suite is an incredibly powerful tool for managing a business’s online presence. Setting it up can seem intimidating, but with the step-by-step guide below, you’ll be able to take full advantage of the suite’s features and start building your brand in no time. Step 1: Access the Meta Business Suite To access the Meta Business Suite, visit business.facebook.com. If you do not have a Meta business account, you will need to create a free account. Once you have an account and are logged in, you’ll need to create your business account. If you have an account and need to log in, click “Log In,” and you’ll end up on a page that looks like this: After logging in using either your Facebook or Instagram information, you’ll end up on a screen that should look similar to this: Step 2: Create Your Business Page To fully utilize the Meta Business Suite, it’s essential to create at least one Facebook Page if you do not already have one. To get started, click on “Settings.” Click on “Business Assets,” then “Pages,” and click “Add Pages.” You can create a page, claim an existing page, or request to share a page. For this guide, we’ll select “Create a new Facebook Page.” Fill in the requested information as shown in the images below, and your Page is good to go! Now that we’ve gone through how to create a Facebook business page, make sure to research tips for your small business Facebook page to make the most of yours. Small business Facebook pages can be a great marketing tool. Step 3: Begin Using Suite Features Now that your business account and new Page are set up, you’re not able to start using all of the features the Meta Business Suite has to offer. Click “Home” in the left menu to return you back to your account’s home where you should see your newly created Facebook Business Page. If you don’t see it, try refreshing your screen. How to Use Meta Business Suite and Scale Your Facebook Business Page Using the Meta Business Suite and Facebook Business Pages can help you maximize your business’s online presence. Read on to find out how to use the suite and get the most out of your Facebook Page… Step 1: Edit Your Page The first thing you’ll want to do with your new Facebook Page is to upload a profile picture and cover photo for branding. Click “Edit” as shown below to do so… Step 2: Create a Post To create your posts, click on “Create post,” enter your post details, and click “Publish” when you’re ready. Step 3: Boost Your Post To get more eyeballs and engagement on your post and page, you can choose to boost your post when you create it or at a later time. To boost your post at the time of creation, you would click the “Boost post” toggle as shown above. To boost your post after it’s been created, click on “Boost post” below the post you’re looking to promote, as shown below. Modify audience details, your start date, and your budget. Once you’re satisfied with your ad settings, click on “Boost post now.” Step 4: Get Page Likes and Post Engagement To get likes on your Facebook Page and likes, comments, and shares on your posts, you may want to consider running other Facebook ads. To do so, click on “Ads” in the left margin, then “Create ad.” You’ll need to choose from the available goals and set up your specific ad campaign on the next page. If you’re marketing on Instagram, use popular hashtags on Instagram that are relevant to what you’re promoting. For example, if you’d like to get more Page Likes, click on “Promote your Page” and fill in the details to start your campaign. Meta Business Suite Tools to Use From content creation and optimization to analytics and insights, there’s something for everyone. Read on to find out how you can make the suite work for you and take your business to the next level. A/B split testing Meta Business Suite offers an invaluable feature to its users: A/B testing. With this tool, businesses and creators can experiment with two variations of a post and determine which version performs better. A/B testing is an essential aspect of marketing, as it provides valuable insights into what makes a post successful. By comparing two variations of a post, users can pinpoint the exact elements that contributed to its success. Did the copy resonate with the audience? Was it visually appealing graphics? Did a certain format or hashtag help? All of these questions can be answered through A/B testing. With the results from A/B testing, users can make informed decisions for their future posts. This feature not only saves time and effort but also helps optimize content for better performance and results. In short, A/B testing with Meta Business Suite can provide a strategic advantage for businesses and personal brands looking to succeed on Facebook and Instagram. Commerce Manager In Meta Business Suite, accessing the commerce features is as simple as clicking on the “Commerce” option located on the left-side menu. Once selected, you will be redirected to the Commerce Manager where you can set up your very own shop or catalog. This is a great way to showcase your products and make them easily accessible to potential customers. By setting up your shop or catalog, you can make the purchasing process seamless and effortless for your customers. They can even access your products through Facebook, Instagram, and Instagram stories. To take advantage of this feature, it is recommended to connect your Instagram account to your Facebook page. This integration will make it even easier for your customers to discover and purchase your products. Content Planner The use of a content calendar is a crucial aspect of effective social media management. Having a clear overview of your content plan for the month or week can greatly help in the organization of your marketing strategy. Meta Business Suite provides a solution to this need by offering its users the ability to schedule posts and stories for both Facebook and Instagram directly within the platform. This eliminates the need for additional and often expensive scheduling tools, freeing up valuable time and resources to focus on other important aspects of your business. Create and manage ads If you’re looking to boost your online presence, reach a wider audience, and create greater brand recognition, Facebook advertising can be a powerful tool. And with the Meta Business Suite, managing your ads has never been easier. With the Ads Manager, you can create and manage all of your ads in one place, choosing your goals, ad placements, and budget with ease. So, make sure you take advantage of this convenient and effective tool to begin promoting your business using Facebook ads and help you reach your business objectives. Insights Meta Business Suite provides its users with insightful analytics and metrics to help evaluate the performance of their Facebook page. The platform’s Insights feature allows you to set specific goals for your page and track your progress over time. This makes it easier to identify what strategies are working and what areas need improvement. By analyzing the results of your page, you can make data-driven decisions to enhance your social media marketing efforts and reach your desired outcomes. Whether you’re managing a personal brand or a large business, this tool is a valuable asset in maximizing your online presence and achieving your goals. Collaborate with others The “All Tools” section on the left side of your Meta Business Suite dashboard provides the opportunity to manage and organize access to your business account. With this feature, you can invite your team members, delegate tasks, and assign specific roles to each person involved in managing your accounts. The available roles include Admin, Editor, Advertiser, Analyst, and Moderator, all designed to protect your valuable assets and customer base. This is a critical component for ensuring the security and success of your business’s social media presence. Benchmarking tool This tool, found within Insights, allows you to see how your page is performing in relation to others in your industry and make changes to your strategy to improve your reach and engagement. Furthermore, you can examine the kinds of content your competitors are sharing and identify what is effective for them. This information can be used to create content that resonates with your audience and sets you apart from your competitors. With the Benchmarking tool, you can stay ahead of the game and continually improve your social media presence on Facebook and Instagram. How to Make the Most of Meta Business Suite Insights Before you dive into the insights, it’s important to have a clear understanding of what you want to achieve with your social media pages. This could include increasing engagement, reaching new audiences, or boosting sales. Here are some expanded tips for utilizing Meta Business Suite Insights: Establish Clear Goals: Before you delve into the insights, you should have clear objectives for your social media presence. Are you aiming to increase engagement, reach new audiences, or drive sales? These goals will guide your focus on the metrics that truly matter and help you make data-driven decisions. Focus on Relevant Metrics: The Meta Business Suite Insights provides a range of key performance indicators (KPIs) like reach, engagement, and audience demographics. Select and closely monitor the metrics that align with your goals to measure your progress and pinpoint areas for improvement. Understand Your Audience: The demographics of your audience play a crucial role in tailoring content that resonates with them. Utilize the audience insights to gain a deep understanding of your followers – their interests, their active times on social media, and other relevant information. Monitor Trends Over Time: The Insights tool in the Meta Business Suite enables you to assess your performance over time. This is crucial for recognizing trends and gaining insights into how your content and strategies are performing in the long run. Competitive Analysis: Additionally, this tool allows you to compare your performance against competitors. Understanding how you stand against others in your industry can provide valuable insights and help you adjust your strategies accordingly. Informed Strategy Adjustments: Use the insights generated to adapt and refine your social media strategy. Identify what’s working well and what isn’t, and modify your approach based on this feedback. The continuous use of insights will help you fine-tune your strategy for better results. Frequent Review: Regularly review and analyze your insights data. This is not a one-time process but rather an ongoing one. Frequent reviews help you stay updated on the effectiveness of your strategies and allow for timely adjustments. Leverage Insights for Ad Campaigns: If you run ad campaigns, use the insights to understand which content performs better and has higher engagement rates. This can help you create more effective ad campaigns that resonate with your audience and yield better returns. By properly utilizing Meta Business Suite Insights, you can make data-driven decisions, create engaging content, and optimize your social media strategy. It’s about learning, adapting, and growing your social media presence based on your unique audience and business goals. Meta Business Suite Vs. Facebook Business Manager Meta Business Suite and Facebook Business Manager are management platforms for businesses to access Meta accounts and tools, with the ability to separate professional tasks from personal Facebook use and collaborate with colleagues and clients. The main differences lie in the age of the platforms—Business Manager is the older option—and their accessibility; Business Manager is available only on desktop, while the meta business suite offers both desktop and mobile access. Business Suite manages both Facebook and Instagram business accounts, while Business Manager focuses on Facebook pages and ad accounts. FeatureMeta Business SuiteFacebook Business Manager AgeNewerOlder AccessibilityDesktop and MobileDesktop Only Platforms ManagedFacebook and InstagramFacebook Only Collaboration FeaturesAllows collaboration with colleagues and clientsAllows collaboration with colleagues and clients Separation from Personal AccountsProvides clear separation from personal Facebook useProvides clear separation from personal Facebook use Ad ManagementYesYes Cross-PostingYes (Facebook and Instagram)Limited (mainly Facebook) Inbox ManagementYesYes Insights and ReportsComprehensive (for both Facebook and Instagram)Limited (mainly for Facebook) Meta Business Suite Tips Whether you’re looking to grow your brand, engage with customers, or track performance, the Meta Business Suite has new tools for creators to make money on Facebook and Instagram. To help you get the most out of the platform, here are six tips for optimizing your Meta Business Suite strategy: Create a content calendar: Planning your content in advance helps ensure a consistent and coherent brand message. Use the Meta Business Suite to schedule posts and keep your content organized. This will help streamline your content creation process. Leverage Facebook Ads: The Meta Business Suite makes it easy to create and manage Facebook Ads campaigns. Use this feature to reach new audiences and drive conversions. Doing so allows you to reach potential customers who may not be familiar with your brand. You can also use ads to increase the visibility of certain products or services that you want to promote. Track your results: The Meta Business Suite provides detailed analytics that can help you measure the success of your social media efforts. Use this data to make informed decisions about what works and what doesn’t. Engage with your audience: To foster a relationship with your customers, promptly respond to comments and messages. The Meta Business Suite simplifies the process of tracking all your interactions. Integrate with other tools: The Meta Business Suite integrates with a range of other tools, such as Hootsuite and Buffer, to help streamline your workflow and save time. Try new features: The Meta Business Suite is constantly adding new features and updates, so be sure to try them out and see how they can benefit your business. Stay ahead of the curve and experiment with new ways to reach and engage your audience. Integrating Meta Business Suite with Other Marketing Tools In the dynamic world of digital marketing, the integration of various tools and platforms is crucial for creating a comprehensive and effective strategy. The Meta Business Suite, a powerful tool in its own right, can be significantly enhanced when combined with other marketing technologies. Here’s how you can integrate the Meta Business Suite with other marketing tools: CRM Integration: Connect your Customer Relationship Management (CRM) software with Meta Business Suite. This integration can provide a more holistic view of your customer interactions, enabling personalized marketing efforts and better customer service. Email Marketing Platforms: Link your email marketing platform with the Meta Business Suite. By doing this, you can create more cohesive campaigns that span social media and email, leveraging insights from both to optimize your overall marketing strategy. E-commerce Platforms: For businesses with an e-commerce presence, integrating your e-commerce platform with Meta Business Suite can streamline the process of showcasing products on Facebook and Instagram. This includes syncing your product catalog and using Meta’s shopping features to drive sales directly through social media. Analytics and Reporting Tools: While Meta Business Suite provides its own analytics, integrating it with additional analytics tools can offer deeper insights. This can help in understanding customer behavior across different digital platforms, not just on Meta-owned properties. Content Management Systems (CMS): If you use a CMS for your website or blog, integrating it with Meta Business Suite can simplify content sharing. Automate the process of posting new content from your website directly to your Facebook page or Instagram account. Advertising Tools: Leverage third-party advertising tools in conjunction with Meta Business Suite for more advanced advertising capabilities. This can include more detailed targeting, ad performance optimization, and cross-platform ad management. Social Media Management Tools: Tools like Hootsuite or Buffer can be integrated to manage posts and analyze data across multiple social platforms alongside Facebook and Instagram. This provides a more unified approach to managing all your social media channels. Measuring and Analyzing Social Media ROI with Meta Business Suite Measuring and analyzing social media ROI with Meta Business Suite involves defining specific goals like sales, website traffic, or engagement rates. The suite offers detailed analytics on engagement, reach, and conversion rates, allowing businesses to gauge the effectiveness of their content and campaigns. It’s crucial to compare the costs of social media efforts against the generated returns to calculate ROI accurately. The insights gained can inform future strategies, focusing on high-performing content and adjusting less effective tactics. Additionally, businesses should consider both quantitative measures, like sales, and qualitative aspects, like brand awareness, for a comprehensive understanding of social media ROI. Final Words The Meta Business Suite provides businesses with a powerful, streamlined tool to manage their online presence. With its intuitive dashboard and range of tools, it’s the perfect platform for businesses to create an efficient and effective social media campaign. Whether you’re new or experienced with using social media in this day and age, the Meta Business Suite is a great way to build your brand and engage with customers. Can you use Meta Business Suite and Business Manager simultaneously? Meta has introduced a new and improved platform, the Meta Business Suite, as a replacement for the older Meta Business Manager. Both platforms can’t be used simultaneously, but if you need to revert back to Business Manager, Meta does provide the option. Keep in mind that switching back will limit your ability to manage content scheduled in Business Suite, but the posts will still be published according to the planned schedule. What is Meta business suite for? Meta Business Suite is a comprehensive social media management solution designed to assist businesses in managing their Facebook and Instagram accounts. It’s an all-in-one platform that offers a native solution for businesses to streamline their social media efforts. From creating and scheduling content and responding to customer interactions to measuring the impact of campaigns, the Meta Business Suite has everything you need to effectively manage your social media presence. Businesses can also plan organic campaigns, run ads, and efficiently organize their digital assets. Do I need Meta business suite? Meta Business Suite is the ideal solution for streamlining and elevating your marketing efforts on Facebook and Instagram. This platform is designed to meet the needs of creators, personal brands, and businesses looking to improve their social media presence. If you’re aiming to expand your brand or enhance your reach, Meta Business Suite provides all the tools you need to thrive on social media. How can I access Meta Business Suite? To access Meta Business Suite, simply visit business.facebook.com on your desktop or download the app on your iOS or Android device. To fully utilize its features, connect both your Facebook Page and Instagram account within the platform. Whether you prefer the desktop version or the mobile app, the Meta Business Suite makes it easy to manage your social media presence from one central location. When is Facebook changing to Meta? On a specific date, Mark Zuckerberg’s Meta Platforms solidified its dedication to the Metaverse by changing its stock symbol from FB to META. The company, which owns Instagram, Messenger, and WhatsApp, made this change to align with its rebranding efforts. This move marked the end of the company’s association with its former name, Facebook, and signaled a new era for Meta Platforms. Image: Envato Elements This article, "How to Use the Meta Business Suite (Formerly Facebook Business Suite)" was first published on Small Business Trends View the full article

Every Wi-Fi expert will have his preferred Wi-Fi planning and survey tool – but the choice of platforms has now widened. The post Startup Sidos is disrupting deeply-entrenched market for Wi-Fi planning & survey tools appeared first on Wi-Fi NOW Global. View the full article

When I started backpacking almost 20 years ago, there were no smartphones. That meant you had to rely on paper maps, physical guidebooks, and (often outdated) information from random web forums. While it made traveling adventurous, it also made planning a trip very difficult. Fortunately, times have changed. It’s never been easier to access information while you’re abroad. From booking hotels to looking up directions to finding places to eat, access to Wi-Fi and mobile data has changed the game. SIM cards were the first step in making this evolution possible. You’d buy an overpriced physical SIM card on arrival and hope that you didn’t blow through the data before your trip ended (or you moved on to a new country). But even those days are past thanks to eSIMs, digital SIM cards you can set up before you even leave home. They are easy to use, affordable, and sometimes even come with awesome perks (more on that below). One of the most popular eSIMs on the market? Saily. In this Saily eSIM review, I’ll break down what Saily offers and how much it costs so that you can decide if it’s the best choice for your next trip. What is Saily? Saily is an eSIM app created by NordVPN. Just like a regular physical SIM card, an eSIM lets you activate and access mobile data while abroad. That means you don’t need to buy a physical SIM card on arrival, you can avoid expensive roaming fees, and you don’t need to use public Wi-Fi (which is often unsafe). For me, the best part of eSIMs is that you can set them up before you leave. That way, you’ll know exactly how much data you have and can pick out the perfect data plan from the comfort of your home. Saily also has 24/7 chat support, so if you have a question or run into problems you can get the help you need. And Saily offers plans in over 200 destinations, which means that no matter where you’re heading, they can ensure you stay connected while you’re there. How to Use a Saily eSIM While using an eSIM might seem more difficult than just popping in a physical SIM card, it’s actually super easy to get started. Here’s what you need to do: Download the app (it’s available on both iOS and Android) Create an account and add your payment info Select the country you’re going to (or the region) Choose your plan Follow the prompts provided That’s it! Now you have an eSIM that activates automatically the moment you land in your destination, saving you the time and energy of having to find one on arrival. What I especially like, though, is that you just need to install the eSIM once. Going to more countries later in the year? No problem. You just add a new plan for that trip and pay for the new data. No reinstalling for every trip. As I said, it’s super easy! How Much Does Saily Cost? Prices for Saily eSIM plans vary by country, but you can find them for as low as $1.99 USD. For example, if you’re heading to Paris for a week, a 7-day plan with 1GB of data costs $3.99 USD. Staying longer? You can get 30 days of coverage and 20GB of data for just $31.99 USD. Super affordable. If you’re visiting more than one country, you can also buy a regional plan. These are available for Europe, Africa, Latin America, and more, with prices starting as low as $4.99 USD. They even have a global plan in case you’re going everywhere! In short, eSIM plans with Saily are very affordable! Added Security Features of Saily What makes Saily stand above the competition though is that they are more than just an eSIM company. Their plans include several awesome perks that make using them a no-brainer. Here’s what’s included: Virtual Location – Saily plans include a virtual location so that you can rest assured your data is secured and private. In the past, I’ve had to buy a separate VPN plan in addition to my eSIMs. Not anymore! Now I can travel knowing my connection is private, secure, and safe from outside access. Ad blocker – Ads not only make surfing the web a pain, but they chew through your data. With an ad blocker activated, you’ll not only have a better online experience but you’ll save more of your data (which saves you money). Web protection – When we travel, we often connect to free public Wi-Fi. While convenient, it also opens you up to all kinds of malware (airports are especially bad for this). Having web protection enabled reduces trackers and malicious websites before they reach your device. This ensures your data is safe as you travel. Pros of Saily Competitive rates vs other eSIM companies Regional plans available for multi-country trips Good data speeds 24/7 customer support Virtual location Ad blocker Web protection Cons of Saily Slightly more expensive than buying a local SIM card No texting or calls *** Saily not only offers a solid product in its eSIM but the added perks make this one of the best eSIM options on the market. It’s affordable, easy to use, and its safety and privacy perks offer incredible extra value. No matter where you’re heading, Saily can ensure you stay connected — without breaking the bank! Ready to sign up? Use code NOMADICMATT5 to get 5% off! Book Your Trip: Logistical Tips and Tricks Book Your Flight Find a cheap flight by using Skyscanner. It’s my favorite search engine because it searches websites and airlines around the globe so you always know no stone is being left unturned. Book Your Accommodation You can book your hostel with Hostelworld. If you want to stay somewhere other than a hostel, use Booking.com as it consistently returns the cheapest rates for guesthouses and hotels. Don’t Forget Travel Insurance Travel insurance will protect you against illness, injury, theft, and cancellations. It’s comprehensive protection in case anything goes wrong. I never go on a trip without it as I’ve had to use it many times in the past. My favorite companies that offer the best service and value are: SafetyWing (best for budget travelers) World Nomads (best for mid-range travelers) InsureMyTrip (for those 70 and over) Medjet (for additional evacuation coverage) Want to Travel for Free? Travel credit cards allow you to earn points that can be redeemed for free flights and accommodation — all without any extra spending. Check out my guide to picking the right card and my current favorites to get started and see the latest best deals. Need a Rental Car? Discover Cars is a budget-friendly international car rental website. No matter where you’re headed, they’ll be able to find the best — and cheapest — rental for your trip! Need Help Finding Activities for Your Trip? Get Your Guide is a huge online marketplace where you can find cool walking tours, fun excursions, skip-the-line tickets, private guides, and more. Ready to Book Your Trip? Check out my resource page for the best companies to use when you travel. I list all the ones I use when I travel. They are the best in class and you can’t go wrong using them on your trip. The post Saily eSIM Review: A Comprehensive eSIM for Travelers appeared first on Nomadic Matt's Travel Site. View the full article

Small business loans can be an excellent option for starting or expanding your business. However, with the variety of loan types available, it can be challenging to determine which one suits your needs best. In this article, we will cover some of the most common business loan terminology you should know to make an informed decision. Let’s get started! What is Loan Terminology? Business loan terminology can be confusing for small business owners. Business loan terminology is a set of words and phrases used in the lending and borrowing of money. The most common terms in a business loan agreement are principal, interest, maturity, and amortization. Business Loan Glossary A Alternative lenders These are lenders that are not traditional banks or financial institutions that offer alternative lending options like merchant cash advances. They may be online lenders, peer-to-peer lenders, or even family and friends. Annual Percentage Rate (APR) The Annual Percentage Rate or APR is the annual rate charged for borrowing, expressed as a percentage of the business loan amount. It includes the interest rate on the loan balance and other associated charges. Amortization The process of repaying a business loan in periodic installments. The installment payment includes principal and interest. B Balloon Payment A balloon payment is a lump sum payment you make at the end of your business loan term. This type of payment is typically used when your loan has a shorter term than the amount of time it takes for your business to earn enough money to pay off the loan. Bank Loans A bank loan is a loan that is issued by a traditional bank or financial institution. Borrower The person or business who is borrowing money or taking out a business loan. Borrower’s Monthly Payment The periodic loan payment the borrower makes to the lender. Loan payments usually include interest and principal. Bridge Loan Bridge loans are short-term loans used to bridge the gap between the time a business needs money and the time it can get its hands on long-term financing. These loans are typically for six months or less. Business Credit Cards Business credit cards can be a great way to finance your business. They offer a variety of benefits, such as cashback rewards, travel rewards, and 0% APR introductory rates. Business Line of Credit A Business line of credit is a type of loan that provides your business with a set amount of money that can be used for any purpose. With a business line of credit, you can withdraw funds up to a limit set by the lender. Business Loan Term A business loan term is the amount of time for which a loan is valid. Generally, the loan term is less than the amount of time it takes for your business to earn enough money to pay off the loan. Business Plan A business plan is a document that outlines a company’s goals and how it plans to achieve them. It typically includes information about the company’s products and services, marketing strategy, financial forecast, and management team. Business Loan Terms & Rates The business loan term and rate refer to the specific details of the loan agreement. Typical business loan terms vary based on many factors but usually include the interest rate, repayment period, and any other associated charges. C Capital Capital refers to the funds a business uses to start or grow its operations. It can be in the form of cash, equipment, inventory, or real estate. Cash Flow Cash flow is the movement of money in and out of a business. It can be used to measure a company’s financial health and performance. Cognovit Note A cognovit note allows the lender to take legal action against the borrower if they default on the loan. This type of note is typically used when the borrower is high-risk. Co-borrower A co-borrower is a person or business that cosigns a loan with the borrower. This means that they are equally responsible for repaying the loan. Collateral Collateral is an asset, such as property or equipment, that you use to secure a loan. If you default on your loan, the lender can seize the collateral and sell it to repay the debt. Cosigner A cosigner is someone who agrees to sign your loan with you. This person is typically a friend or family member who has good credit and is willing to help you get approved for the loan. Credit Bureaus Credit bureaus are organizations that collect and maintain information about a person’s credit history. This information is used to create a credit report, which is a document that shows a person’s creditworthiness. Credit History Credit history is a record of a person’s or business’ credit transactions and credit score. This information is used to create a credit report, which is a document that shows creditworthiness. Credit Limit A credit limit is the maximum amount of money a business can borrow with its credit card. It is important to stay within your credit limit, as going over it can damage your credit score. Credit Line A credit line is a type of loan that provides your business with a set amount of money that can be used for any purpose. It’s similar to a business credit card, but with a lower interest rate. Credit Report A credit report is a document that shows a person’s or business’ credit history. It includes information about the person’s or business’ credit transactions and credit score. Credit Score Your credit score is a number that represents your creditworthiness. It is used by lenders to determine whether or not you are a good candidate for a loan. D Debt Consolidation Debt consolidation is the process of combining multiple debts into a single loan, often with more favorable terms such as a lower interest rate or more manageable monthly payments. This can be an effective strategy for businesses looking to simplify their debt management and potentially reduce overall costs. Debt Instruments Debt instruments are financial tools that businesses can use to borrow money. This includes things like business loans, lines of credit, and credit cards. Debt-to-Income Ratio A debt-to-income ratio is a calculation that shows how much debt a business has compared to its income. This number is used to measure a company’s financial health and risk. Default Default occurs when you fail to make payments on your loan according to the terms agreed upon. This can result in damage to your credit score, and the lender may take legal action against you. E Existing Loan An existing loan is a loan that has already been approved and is currently in use. Equipment Financing Equipment financing is a type of loan that provides businesses with the funds they need to purchase equipment. This type of loan is typically used to finance large purchases, such as vehicles or industrial equipment. Equity Equity is the portion of a business’ ownership that is funded with the owner’s own money. It’s used as collateral for a business loan, and the lender can seize it if the borrower defaults on the loan. Equity Financing Equity financing involves raising capital by selling shares of your business to investors. Unlike debt financing, which requires repayment with interest, equity financing offers capital in exchange for ownership stakes, meaning investors gain a share of the profits but also bear some of the business risks. F Fair Market Value Fair market value is the price that a buyer and seller agree upon when they are both acting in good faith. This price is typically used to assess the worth of a business or its assets. FICO FICO is a credit scoring system that uses a person’s credit history to determine their creditworthiness. It is used by lenders to determine whether or not to approve a loan. Fixed Interest Rate A fixed interest rate is a type of loan in which the interest rate does not change over the life of the loan. This means that the borrower knows exactly what they will be paying each month. G Grace Period A grace period refers to a duration in which a borrower can make payments on their loan without facing any penalties. Gross Income Gross income is the total amount of money a business makes before any deductions are taken out. This number is used to calculate a business’ debt obligations, which are the payments it must make on its outstanding loans. Guarantor A guarantor is a person or organization that commits to repaying a loan if the primary borrower fails to do so. This requirement is common for businesses that have a limited credit history or for loans deemed high-risk. H Hard Credit Check A hard credit check is a type of credit check that is used to determine a person’s or business’ creditworthiness. This type of check is more rigorous than a soft credit check, and it can result in a lower credit score. I Interest Payments Interest payments are the fees that a business pays to a lender to borrow money. These payments are typically calculated as a percentage of the loan amount and must be paid monthly. Invoice Financing Invoice financing is a type of loan that provides businesses with the funds they need to pay their suppliers. This can be used to finance large purchases, such as inventory or equipment. L Lien A lien is a legal claim or right against assets that are typically used as collateral to satisfy a debt. If a borrower defaults on a loan, the lien allows the lender to seize the collateral to recover the owed amount. Loan Agreement This document outlines the terms and conditions of the loan, including the interest rate, the repayment schedule, and any penalties for defaulting on the loan. This can vary from a mortgage loan, a personal loan, a student loan, and a business loan. Loan Amount A loan amount is the total amount of money that a business borrows from a lender. Loan Commitment A loan commitment outlines the same terms and conditions as a loan agreement but is a more formal document that is typically used to secure financing. Loan Covenant A loan covenant is a condition or stipulation in a commercial loan or bond issue that requires the borrower to fulfill certain conditions or prohibits the borrower from undertaking certain actions, or possibly restricts certain activities to circumstances when other conditions are met. Loan Documents Loan documents are the paperwork that is used to secure a loan from a lender. This paperwork typically includes the loan agreement, the commitment letter, and any other relevant documents. Loan Principal The loan principal is the amount of money that is borrowed by a business. This number helps calculate the payments that a business must make on its loans monthly. Loan Servicing Loan servicing encompasses the administrative aspects of a loan from the time the proceeds are dispersed until the loan is paid off. This includes sending monthly payment statements, collecting monthly payments, maintaining records of payments and balances, collecting and paying taxes and insurance, and managing escrow and impound accounts. Loan to Value Loan to value (LTV) is the ratio of a loan amount to the value of the assets that are being used as collateral for the loan. This number is used by lenders to determine the risk involved in lending money to a business. M Merchant Cash Advance A merchant cash advance (MCA) is a type of loan that provides businesses with quick and easy access to funds they need to pay their suppliers. A merchant cash advance provides businesses with an alternative financing option. Monthly Payments Monthly payments are the fees that a business pays to a lender to borrow money. N Net Income Net income is the amount of money that a business earns after all expenses have been paid. This number is used to determine the profitability of a business. Non-Recourse Loans A non-recourse loan is a type of loan that is not secured by any collateral. This means that if the borrower defaults on the loan, the lender cannot seize any of the borrower’s assets. Net Worth Net worth is the total value of a person’s or business’ assets minus the total value of its liabilities. This number is used to determine the financial health and ability to repay outstanding loans. O Origination Fee An origination fee is a fee that is charged by a lender when a business takes out a loan. This fee is typically a percentage of the loan amount and is paid upfront. P Personal Guarantee A personal guarantee is a document that is signed by the owner of a business to guarantee that they will repay their loan. This document is typically used to secure financing from a lender. Personal Loan A personal loan is a type of loan that is taken out by an individual for personal, non-business use. Pre-Payment Penalty A pre-payment penalty is a fee imposed by a lender when a business pays off its loan ahead of schedule. Pre-qualification Pre-qualification is an initial step in the loan application process where lenders evaluate a borrower’s creditworthiness and repayment capability. Typically, this process includes a soft credit check that does not impact the borrower’s credit score. Prime Rate The prime rate is the interest rate that is offered to the most credit-worthy borrowers. This rate is typically used as a benchmark to set the interest rates for other types of loans. Principal and Interest The principal is the amount of money that is borrowed by a business. The interest is the fee that a business pays to a lender to borrow money. Principal Balance The principal balance is the amount of money that is still owed on a business loan. This number is used to calculate the monthly payments that a business must make on its outstanding loans. Promissory Note A promissory note is a document that is used to secure a loan from a lender. This document usually includes the loan agreement, the commitment letter, as well as any other relevant documents. R Recourse Loans A recourse loan is a type of loan that is secured by collateral. This means that if the borrower defaults on their loan, the lender can seize any of the borrower’s assets. Refinance Transaction A refinance transaction is the process of obtaining a new loan to pay off an existing loan. This process can be used to secure a lower interest rate or to consolidate multiple loans into one. Repayment Period A repayment period is the amount of time that a business has to repay its loan. This period is typically calculated as several months or years and must be paid back in regular installments. Repayment Terms Repayment terms are the specific details of how a business must repay its loan. This includes the amount of time that the loan must be repaid and the amount of each monthly payment. Revolving Credit Revolving credit is a type of loan that allows businesses to borrow money up to a certain limit and repay it over time. This type of loan can be used for a variety of purposes, such as working capital or inventory. S Secured Loan A secured loan is a type of loan that is secured by collateral. So, if the borrower defaults on their loan, the lender can seize assets from the borrower. Short-Term Business loans Short-term business loans are a type of loan that is used to finance a business’s short-term needs. This type of loan is typically repaid over months or years. Small Business Loan A small business loan is intended for business purposes only and the interest rate is typically lower than for personal loans. Soft Credit Check This is a type of credit check that does not affect credit score. It’s used to assess an individual’s or business’ creditworthiness without impacting credit score. Subprime Loan A subprime loan is offered to individuals or businesses who do not qualify for prime rates due to various risk factors, such as poor credit history or low income. These loans typically come with higher interest rates than prime loans to compensate for the higher risk of default. T Term Length Term length is the number of months or years of a loan. This determines the number of monthly payments and the total amount of interest paid over the life of the loan. Title Insurance Company A title insurance company is a business that provides insurance to lenders in case there is a problem with the title of a property. This can help protect the lender’s investment in case there are any legal issues with the property. U Underwriting Underwriting is the process a lender uses to assess the creditworthiness and risk of a potential borrower. This process involves evaluating the borrower’s credit history, income, assets, and other factors to determine the likelihood of the loan being repaid. Unsecured Loan Unsecured loans are a type of loan in which the borrower does not provide any collateral to the lender. An unsecured loan typically has a higher interest rate than a secured one since there’s a greater risk for the lender. V Variable Interest Rate A variable interest rate can change over the life of a loan. This type of rate is typically tied to an index, such as the U.S. Prime Rate, and will go up or down depending on the fluctuations of that index. W Working Capital Loan A working capital loan is a loan used to finance the everyday operations of a business, such as inventory purchases, payroll, rent, and other short-term expenses. Unlike long-term loans, these are generally used to cover operational costs rather than for investment or expansion. What are the Four Business Loan Types? Small business owners have many options when it comes to small business lending. Here are four main types of business loans: Term loans. These small business loan programs are typically for larger sums of money and have a repayment period of one to five years with an interest rate that’s usually fixed. SBA loans. These government-backed loans are available through the Small Business Administration (SBA) and have repayment terms of seven to 25 years. Invoice factoring. This type of small business loan uses your outstanding invoices as collateral. The lender gives you a portion of the invoice value upfront and the rest when your customer pays the invoice. Microloans. These loans are for smaller amounts of money, usually less than $50,000. They typically have shorter repayment terms than other types of loans. Avoiding Common Pitfalls in Business Loan Borrowing While business loans can provide valuable financial resources, it’s important to tread carefully to avoid potential pitfalls. Here are some common mistakes to steer clear of when considering a business loan: Overlooking Loan Terms: Failing to fully understand the terms and conditions of the loan agreement can lead to unexpected costs and obligations. Borrowing More Than Necessary: Acquiring more debt than needed can put a strain on your business’s financial stability and complicate the repayment process. Neglecting Credit Score: Your credit score influences loan terms and interest rates. Neglecting it may result in unfavorable borrowing terms. Ignoring Hidden Fees: Be vigilant about additional fees that could impact your overall loan costs, such as origination fees or prepayment penalties. Misjudging Repayment Ability: Overestimating your business’s ability to repay the loan can lead to financial stress and potential default. Failing to Compare Offers: Not exploring multiple lenders can cause you to miss out on more favorable loan options. Not Having a Clear Purpose: Borrowing without a well-defined purpose or plan for utilizing the funds can result in inefficient spending. Not Reading the Fine Print: Carefully review all loan documents to avoid any surprises or discrepancies. Ignoring Market Trends: Failing to consider economic conditions and market trends could impact your ability to repay the loan. Rushing the Process: Making hasty decisions without thorough research can lead to regrettable loan choices. PitfallDescription Overlooking Loan TermsFailing to understand loan agreement terms can lead to unexpected costs and obligations. Borrowing More Than NecessaryExcessive debt can strain financial health and make repayment challenging. Neglecting Credit ScoreYour credit score influences loan terms. Neglecting it may lead to unfavorable borrowing terms. Ignoring Hidden FeesBe vigilant about additional fees impacting loan cost, such as origination fees or prepayment penalties. Misjudging Repayment AbilityOverestimating ability to repay can cause financial stress and potential default. Failing to Compare OffersExploring multiple lenders helps identify more favorable loan options. Not Having a Clear PurposeBorrowing without a defined purpose or plan can result in inefficient spending. Not Reading the Fine PrintThoroughly reviewing loan documents avoids surprises or discrepancies. Ignoring Market TrendsEconomic conditions and market trends should be considered to ensure loan repayment ability. Rushing the ProcessHasty decisions without research can lead to regrettable loan choices. By being aware of these potential pitfalls and taking a cautious approach, you can make smarter decisions when seeking a business loan and avoid unnecessary financial setbacks. READ MORE: How to Get a Small Business Loan A Complete Guide to the Small Business Loan Documents You’ll Need Image: Depositphotos This article, "Business Loan Terminology You Should Know" was first published on Small Business Trends View the full article

Small business loans can be an excellent option for starting or expanding your business. However, with the variety of loan types available, it can be challenging to determine which one suits your needs best. In this article, we will cover some of the most common business loan terminology you should know to make an informed decision. Let’s get started! What is Loan Terminology? Business loan terminology can be confusing for small business owners. Business loan terminology is a set of words and phrases used in the lending and borrowing of money. The most common terms in a business loan agreement are principal, interest, maturity, and amortization. Business Loan Glossary A Alternative lenders These are lenders that are not traditional banks or financial institutions that offer alternative lending options like merchant cash advances. They may be online lenders, peer-to-peer lenders, or even family and friends. Annual Percentage Rate (APR) The Annual Percentage Rate or APR is the annual rate charged for borrowing, expressed as a percentage of the business loan amount. It includes the interest rate on the loan balance and other associated charges. Amortization The process of repaying a business loan in periodic installments. The installment payment includes principal and interest. B Balloon Payment A balloon payment is a lump sum payment you make at the end of your business loan term. This type of payment is typically used when your loan has a shorter term than the amount of time it takes for your business to earn enough money to pay off the loan. Bank Loans A bank loan is a loan that is issued by a traditional bank or financial institution. Borrower The person or business who is borrowing money or taking out a business loan. Borrower’s Monthly Payment The periodic loan payment the borrower makes to the lender. Loan payments usually include interest and principal. Bridge Loan Bridge loans are short-term loans used to bridge the gap between the time a business needs money and the time it can get its hands on long-term financing. These loans are typically for six months or less. Business Credit Cards Business credit cards can be a great way to finance your business. They offer a variety of benefits, such as cashback rewards, travel rewards, and 0% APR introductory rates. Business Line of Credit A Business line of credit is a type of loan that provides your business with a set amount of money that can be used for any purpose. With a business line of credit, you can withdraw funds up to a limit set by the lender. Business Loan Term A business loan term is the amount of time for which a loan is valid. Generally, the loan term is less than the amount of time it takes for your business to earn enough money to pay off the loan. Business Plan A business plan is a document that outlines a company’s goals and how it plans to achieve them. It typically includes information about the company’s products and services, marketing strategy, financial forecast, and management team. Business Loan Terms & Rates The business loan term and rate refer to the specific details of the loan agreement. Typical business loan terms vary based on many factors but usually include the interest rate, repayment period, and any other associated charges. C Capital Capital refers to the funds a business uses to start or grow its operations. It can be in the form of cash, equipment, inventory, or real estate. Cash Flow Cash flow is the movement of money in and out of a business. It can be used to measure a company’s financial health and performance. Cognovit Note A cognovit note allows the lender to take legal action against the borrower if they default on the loan. This type of note is typically used when the borrower is high-risk. Co-borrower A co-borrower is a person or business that cosigns a loan with the borrower. This means that they are equally responsible for repaying the loan. Collateral Collateral is an asset, such as property or equipment, that you use to secure a loan. If you default on your loan, the lender can seize the collateral and sell it to repay the debt. Cosigner A cosigner is someone who agrees to sign your loan with you. This person is typically a friend or family member who has good credit and is willing to help you get approved for the loan. Credit Bureaus Credit bureaus are organizations that collect and maintain information about a person’s credit history. This information is used to create a credit report, which is a document that shows a person’s creditworthiness. Credit History Credit history is a record of a person’s or business’ credit transactions and credit score. This information is used to create a credit report, which is a document that shows creditworthiness. Credit Limit A credit limit is the maximum amount of money a business can borrow with its credit card. It is important to stay within your credit limit, as going over it can damage your credit score. Credit Line A credit line is a type of loan that provides your business with a set amount of money that can be used for any purpose. It’s similar to a business credit card, but with a lower interest rate. Credit Report A credit report is a document that shows a person’s or business’ credit history. It includes information about the person’s or business’ credit transactions and credit score. Credit Score Your credit score is a number that represents your creditworthiness. It is used by lenders to determine whether or not you are a good candidate for a loan. D Debt Consolidation Debt consolidation is the process of combining multiple debts into a single loan, often with more favorable terms such as a lower interest rate or more manageable monthly payments. This can be an effective strategy for businesses looking to simplify their debt management and potentially reduce overall costs. Debt Instruments Debt instruments are financial tools that businesses can use to borrow money. This includes things like business loans, lines of credit, and credit cards. Debt-to-Income Ratio A debt-to-income ratio is a calculation that shows how much debt a business has compared to its income. This number is used to measure a company’s financial health and risk. Default Default occurs when you fail to make payments on your loan according to the terms agreed upon. This can result in damage to your credit score, and the lender may take legal action against you. E Existing Loan An existing loan is a loan that has already been approved and is currently in use. Equipment Financing Equipment financing is a type of loan that provides businesses with the funds they need to purchase equipment. This type of loan is typically used to finance large purchases, such as vehicles or industrial equipment. Equity Equity is the portion of a business’ ownership that is funded with the owner’s own money. It’s used as collateral for a business loan, and the lender can seize it if the borrower defaults on the loan. Equity Financing Equity financing involves raising capital by selling shares of your business to investors. Unlike debt financing, which requires repayment with interest, equity financing offers capital in exchange for ownership stakes, meaning investors gain a share of the profits but also bear some of the business risks. F Fair Market Value Fair market value is the price that a buyer and seller agree upon when they are both acting in good faith. This price is typically used to assess the worth of a business or its assets. FICO FICO is a credit scoring system that uses a person’s credit history to determine their creditworthiness. It is used by lenders to determine whether or not to approve a loan. Fixed Interest Rate A fixed interest rate is a type of loan in which the interest rate does not change over the life of the loan. This means that the borrower knows exactly what they will be paying each month. G Grace Period A grace period refers to a duration in which a borrower can make payments on their loan without facing any penalties. Gross Income Gross income is the total amount of money a business makes before any deductions are taken out. This number is used to calculate a business’ debt obligations, which are the payments it must make on its outstanding loans. Guarantor A guarantor is a person or organization that commits to repaying a loan if the primary borrower fails to do so. This requirement is common for businesses that have a limited credit history or for loans deemed high-risk. H Hard Credit Check A hard credit check is a type of credit check that is used to determine a person’s or business’ creditworthiness. This type of check is more rigorous than a soft credit check, and it can result in a lower credit score. I Interest Payments Interest payments are the fees that a business pays to a lender to borrow money. These payments are typically calculated as a percentage of the loan amount and must be paid monthly. Invoice Financing Invoice financing is a type of loan that provides businesses with the funds they need to pay their suppliers. This can be used to finance large purchases, such as inventory or equipment. L Lien A lien is a legal claim or right against assets that are typically used as collateral to satisfy a debt. If a borrower defaults on a loan, the lien allows the lender to seize the collateral to recover the owed amount. Loan Agreement This document outlines the terms and conditions of the loan, including the interest rate, the repayment schedule, and any penalties for defaulting on the loan. This can vary from a mortgage loan, a personal loan, a student loan, and a business loan. Loan Amount A loan amount is the total amount of money that a business borrows from a lender. Loan Commitment A loan commitment outlines the same terms and conditions as a loan agreement but is a more formal document that is typically used to secure financing. Loan Covenant A loan covenant is a condition or stipulation in a commercial loan or bond issue that requires the borrower to fulfill certain conditions or prohibits the borrower from undertaking certain actions, or possibly restricts certain activities to circumstances when other conditions are met. Loan Documents Loan documents are the paperwork that is used to secure a loan from a lender. This paperwork typically includes the loan agreement, the commitment letter, and any other relevant documents. Loan Principal The loan principal is the amount of money that is borrowed by a business. This number helps calculate the payments that a business must make on its loans monthly. Loan Servicing Loan servicing encompasses the administrative aspects of a loan from the time the proceeds are dispersed until the loan is paid off. This includes sending monthly payment statements, collecting monthly payments, maintaining records of payments and balances, collecting and paying taxes and insurance, and managing escrow and impound accounts. Loan to Value Loan to value (LTV) is the ratio of a loan amount to the value of the assets that are being used as collateral for the loan. This number is used by lenders to determine the risk involved in lending money to a business. M Merchant Cash Advance A merchant cash advance (MCA) is a type of loan that provides businesses with quick and easy access to funds they need to pay their suppliers. A merchant cash advance provides businesses with an alternative financing option. Monthly Payments Monthly payments are the fees that a business pays to a lender to borrow money. N Net Income Net income is the amount of money that a business earns after all expenses have been paid. This number is used to determine the profitability of a business. Non-Recourse Loans A non-recourse loan is a type of loan that is not secured by any collateral. This means that if the borrower defaults on the loan, the lender cannot seize any of the borrower’s assets. Net Worth Net worth is the total value of a person’s or business’ assets minus the total value of its liabilities. This number is used to determine the financial health and ability to repay outstanding loans. O Origination Fee An origination fee is a fee that is charged by a lender when a business takes out a loan. This fee is typically a percentage of the loan amount and is paid upfront. P Personal Guarantee A personal guarantee is a document that is signed by the owner of a business to guarantee that they will repay their loan. This document is typically used to secure financing from a lender. Personal Loan A personal loan is a type of loan that is taken out by an individual for personal, non-business use. Pre-Payment Penalty A pre-payment penalty is a fee imposed by a lender when a business pays off its loan ahead of schedule. Pre-qualification Pre-qualification is an initial step in the loan application process where lenders evaluate a borrower’s creditworthiness and repayment capability. Typically, this process includes a soft credit check that does not impact the borrower’s credit score. Prime Rate The prime rate is the interest rate that is offered to the most credit-worthy borrowers. This rate is typically used as a benchmark to set the interest rates for other types of loans. Principal and Interest The principal is the amount of money that is borrowed by a business. The interest is the fee that a business pays to a lender to borrow money. Principal Balance The principal balance is the amount of money that is still owed on a business loan. This number is used to calculate the monthly payments that a business must make on its outstanding loans. Promissory Note A promissory note is a document that is used to secure a loan from a lender. This document usually includes the loan agreement, the commitment letter, as well as any other relevant documents. R Recourse Loans A recourse loan is a type of loan that is secured by collateral. This means that if the borrower defaults on their loan, the lender can seize any of the borrower’s assets. Refinance Transaction A refinance transaction is the process of obtaining a new loan to pay off an existing loan. This process can be used to secure a lower interest rate or to consolidate multiple loans into one. Repayment Period A repayment period is the amount of time that a business has to repay its loan. This period is typically calculated as several months or years and must be paid back in regular installments. Repayment Terms Repayment terms are the specific details of how a business must repay its loan. This includes the amount of time that the loan must be repaid and the amount of each monthly payment. Revolving Credit Revolving credit is a type of loan that allows businesses to borrow money up to a certain limit and repay it over time. This type of loan can be used for a variety of purposes, such as working capital or inventory. S Secured Loan A secured loan is a type of loan that is secured by collateral. So, if the borrower defaults on their loan, the lender can seize assets from the borrower. Short-Term Business loans Short-term business loans are a type of loan that is used to finance a business’s short-term needs. This type of loan is typically repaid over months or years. Small Business Loan A small business loan is intended for business purposes only and the interest rate is typically lower than for personal loans. Soft Credit Check This is a type of credit check that does not affect credit score. It’s used to assess an individual’s or business’ creditworthiness without impacting credit score. Subprime Loan A subprime loan is offered to individuals or businesses who do not qualify for prime rates due to various risk factors, such as poor credit history or low income. These loans typically come with higher interest rates than prime loans to compensate for the higher risk of default. T Term Length Term length is the number of months or years of a loan. This determines the number of monthly payments and the total amount of interest paid over the life of the loan. Title Insurance Company A title insurance company is a business that provides insurance to lenders in case there is a problem with the title of a property. This can help protect the lender’s investment in case there are any legal issues with the property. U Underwriting Underwriting is the process a lender uses to assess the creditworthiness and risk of a potential borrower. This process involves evaluating the borrower’s credit history, income, assets, and other factors to determine the likelihood of the loan being repaid. Unsecured Loan Unsecured loans are a type of loan in which the borrower does not provide any collateral to the lender. An unsecured loan typically has a higher interest rate than a secured one since there’s a greater risk for the lender. V Variable Interest Rate A variable interest rate can change over the life of a loan. This type of rate is typically tied to an index, such as the U.S. Prime Rate, and will go up or down depending on the fluctuations of that index. W Working Capital Loan A working capital loan is a loan used to finance the everyday operations of a business, such as inventory purchases, payroll, rent, and other short-term expenses. Unlike long-term loans, these are generally used to cover operational costs rather than for investment or expansion. What are the Four Business Loan Types? Small business owners have many options when it comes to small business lending. Here are four main types of business loans: Term loans. These small business loan programs are typically for larger sums of money and have a repayment period of one to five years with an interest rate that’s usually fixed. SBA loans. These government-backed loans are available through the Small Business Administration (SBA) and have repayment terms of seven to 25 years. Invoice factoring. This type of small business loan uses your outstanding invoices as collateral. The lender gives you a portion of the invoice value upfront and the rest when your customer pays the invoice. Microloans. These loans are for smaller amounts of money, usually less than $50,000. They typically have shorter repayment terms than other types of loans. Avoiding Common Pitfalls in Business Loan Borrowing While business loans can provide valuable financial resources, it’s important to tread carefully to avoid potential pitfalls. Here are some common mistakes to steer clear of when considering a business loan: Overlooking Loan Terms: Failing to fully understand the terms and conditions of the loan agreement can lead to unexpected costs and obligations. Borrowing More Than Necessary: Acquiring more debt than needed can put a strain on your business’s financial stability and complicate the repayment process. Neglecting Credit Score: Your credit score influences loan terms and interest rates. Neglecting it may result in unfavorable borrowing terms. Ignoring Hidden Fees: Be vigilant about additional fees that could impact your overall loan costs, such as origination fees or prepayment penalties. Misjudging Repayment Ability: Overestimating your business’s ability to repay the loan can lead to financial stress and potential default. Failing to Compare Offers: Not exploring multiple lenders can cause you to miss out on more favorable loan options. Not Having a Clear Purpose: Borrowing without a well-defined purpose or plan for utilizing the funds can result in inefficient spending. Not Reading the Fine Print: Carefully review all loan documents to avoid any surprises or discrepancies. Ignoring Market Trends: Failing to consider economic conditions and market trends could impact your ability to repay the loan. Rushing the Process: Making hasty decisions without thorough research can lead to regrettable loan choices. PitfallDescription Overlooking Loan TermsFailing to understand loan agreement terms can lead to unexpected costs and obligations. Borrowing More Than NecessaryExcessive debt can strain financial health and make repayment challenging. Neglecting Credit ScoreYour credit score influences loan terms. Neglecting it may lead to unfavorable borrowing terms. Ignoring Hidden FeesBe vigilant about additional fees impacting loan cost, such as origination fees or prepayment penalties. Misjudging Repayment AbilityOverestimating ability to repay can cause financial stress and potential default. Failing to Compare OffersExploring multiple lenders helps identify more favorable loan options. Not Having a Clear PurposeBorrowing without a defined purpose or plan can result in inefficient spending. Not Reading the Fine PrintThoroughly reviewing loan documents avoids surprises or discrepancies. Ignoring Market TrendsEconomic conditions and market trends should be considered to ensure loan repayment ability. Rushing the ProcessHasty decisions without research can lead to regrettable loan choices. By being aware of these potential pitfalls and taking a cautious approach, you can make smarter decisions when seeking a business loan and avoid unnecessary financial setbacks. READ MORE: How to Get a Small Business Loan A Complete Guide to the Small Business Loan Documents You’ll Need Image: Depositphotos This article, "Business Loan Terminology You Should Know" was first published on Small Business Trends View the full article

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