TFE Times https://tfetimes.com Business, Technology, and Culture Mon, 06 Jul 2020 02:50:58 +0000 en-US hourly 1 https://i1.wp.com/tfetimes.com/wp-content/uploads/2020/06/TFE-Logo.png?fit=32%2C32&ssl=1 TFE Times https://tfetimes.com 32 32 Myth vs. Fact: The Right Way To Exercise https://tfetimes.com/myth-vs-fact-the-right-way-to-exercise/ Mon, 06 Jul 2020 10:00:10 +0000 https://tfetimes.com/?p=54111

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How Will 5G Affect Digital Operations? https://tfetimes.com/how-will-5g-affect-digital-operations/ Mon, 06 Jul 2020 02:50:58 +0000 https://tfetimes.com/?p=56498

 The fifth-generation standard technology for cellular networks is expected to have a significant impact on a wide array of different industries over the coming years. While enhanced speeds are at […]

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The fifth-generation standard technology for cellular networks is expected to have a significant impact on a wide array of different industries over the coming years. While enhanced speeds are at the heart of technical advancement, 5G will ensure far more flexibility for businesses and individual users. So, let’s look at several ways that 5G will affect digital operations.

Enhance Aspects of Gaming

As a result of the network’s capabilities, it’s well-placed to enhance digital operations in diverse sectors, such as gaming. Crucially, the introduction of 5G is likely to ensure that mobile gaming, in particular, reaches new, unprecedented heights after establishing itself as a $68.5 billion industry, as per TechCrunch. Fundamentally, the forward-thinking nature of 5G technology will enable the ever-growing smartphone market to grow by providing more stable wireless connections.

Source: Pixabay

Furthermore, the successor to the fourth-generation network will ensure much lower latency, enabling users to enjoy undetectable levels of latency of approximately one millisecond, according to 5G.co.uk. Importantly, because of this, prospective gamers will be able to enjoy more console-like experiences on their smartphones, including immersing themselves in multiplayer titles, such as Fortnite and PlayerUnknown’s Battlegrounds.

Additionally, access to 5G, which is reportedly set to be introduced in the United States by the end of 2020, will also benefit diverse gaming genres, including the ever-growing iGaming sector. The low levels of latency, combined with increased speeds, will help to minimize the prospect of lag. In turn, this added stability may make selecting a casino more troublesome due to the market’s competitiveness. With that in mind, if you have to choose from online casinos, those listed at BonusFinder are some of the sector’s most comprehensive real-money operators. Crucially, in addition to their free spin and deposit bonuses, each platform’s games, especially their real-time titles, are likely to be enhanced by 5G’s heightened speeds.

Reliability Aiding Businesses

Aside from possessing the capabilities to improve numerous aspects of the gaming industry, the latest wireless network could prove advantageous to businesses of all sizes. As touched upon above, 5G will offer speeds that are estimated to be around 20 times faster than 4G. Significantly, this technological development will play a pivotal role in increasing the rate at which tasks are performed.

5G City auf Smartphone” (CC BY-SA 2.0) by Christoph Scholz

While speeds are at the heart of 5G networks, the advancement also focuses on seamlessly being able to manage high-demand applications. As per the Telegraph, 5G will support up to a 100-fold increase in traffic capacity. Crucially, this will seek to benefit operators at large-scale events by providing them with network coverage in previously uncovered areas.

Moreover, this remote network development will also alter the accessibility and convenience of remote working. According to a report by TechRadar, over 50 percent of staff in 2019 worked remotely for at least 2.5 days of the week. Due to the network’s enhanced speeds, this will enable heightened business flexibility regarding out-of-office work. It’s a testament to 5G’s technical capabilities that business will, for example, be able to share large files through a cloud-based system with undeniable efficiency.

The Foundations for Business Development

Ultimately, few can argue with the fact that 5G looks set to be the catalyst for long-term progression from a remote standpoint. From smartphone gaming to large-scale organizations and independent companies, each will, in their own way, benefit from the fast speeds, low latency, and increased traffic capacity of 5G networks.

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Funding Your Children’s Extracurricular Fun https://tfetimes.com/funding-your-childrens-extracurricular-fun/ Sun, 05 Jul 2020 10:00:13 +0000 https://tfetimes.com/?p=54127

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4 Plants To Avoid On Your Next Hike And Camping Trip https://tfetimes.com/4-plants-to-avoid-on-your-next-hike-and-camping-trip/ Sat, 04 Jul 2020 10:00:31 +0000 https://tfetimes.com/?p=53743

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Popular Focus Areas For Electrical Engineers https://tfetimes.com/popular-focus-areas-for-electrical-engineers/ Fri, 03 Jul 2020 10:00:08 +0000 https://tfetimes.com/?p=54002

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Destress With Simple Massages You Can Do At Your Desk https://tfetimes.com/destress-with-simple-massages-you-can-do-at-your-desk/ Thu, 02 Jul 2020 10:00:36 +0000 https://tfetimes.com/?p=54115

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The Humanization Of Pets https://tfetimes.com/the-humanization-of-pets/ Wed, 01 Jul 2020 10:00:30 +0000 https://tfetimes.com/?p=54545

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5 Traits And Tips From Business Magnates https://tfetimes.com/5-traits-and-tips-from-business-magnates/ Tue, 30 Jun 2020 10:00:39 +0000 https://tfetimes.com/?p=54566

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Is Entering the Export Industry Profitable for a Small Business? How Can You Become An Established Player? https://tfetimes.com/is-entering-the-export-industry-profitable-for-a-small-business-how-can-you-become-an-established-player/ Tue, 30 Jun 2020 01:05:36 +0000 https://tfetimes.com/?p=56344

 A whopping 97% of US export businesses are small firms! This would come as a shock to many small business owners, a shocking 73% of whom, are put off from […]

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A whopping 97% of US export businesses are small firms! This would come as a shock to many small business owners, a shocking 73% of whom, are put off from reaching customers worldwide. This is because they are not aware of the digital resources that could help them overcome the challenges of high infrastructural and legal costs from inefficiencies in the export process.

Even if your business is successful in the homeland, expanding your business is important, so it can reach a bigger market that will increase your profits and lengthen your products’ life spans. If your line of business provides you with a scope to extend your reach and you haven’t, it is highly likely your competitor is willing or already has expanded their business which will place them in a more powerful position and eventually may become a threat to your future survival.

Fortunately, today’s small businesses have access to the internet, efficient logistics, and diversity of assistance programs from the Australian government as well as from other organizations. As a moderate to highly successful business owner, this is as good a time for you to look into the prospect of extending your reach to the foreign shores. Here are 7 ways you can do so:

1. Have an Expansion Plan in Mind for Your Firm

You have decided to expand your firm but have no idea where to start. You can’t conjure a concrete plan for the steps you will need to follow, where to look for them and how you can acquire them cost-effectively. The whole thing is starting to become more confusing and intimidating every day you stall.

Luckily, you can overcome this mental block without having to dive into huge export-related textbooks full of incomprehensible, industry-specific jargon. This is where learning the export process comes in handy,  it teaches you the basic concepts of how you can come up with your own plan that is customized for your business’s unique requirements.

The whole procedure boils down to several steps that you can take a  deeper look at to you build on your current knowledge. Remember, slow and steady wins the race!

Additionally, you will want to ensure that whatever product you are sending out remains intact and in good condition so you can get the maximum return from your investment. Be sure to take security measures like investing in sturdy cargo containers for your goods. Tiger containers are a great local option and provide you with affordably priced used and unused containers to keep your delicate shipment in good shape.

2. Hold In-depth Knowledge of Your Potential Export Destination(s)

So, you get the gist of exporting products overseas and now it’s time to start selling, isn’t it? Hold on! As any successful business owner would tell you, selling is just a component of the complex operations involved in running a business. You can’t just start selling to a new customer base which has a completely different culture and language without first trying to know them.

The key to customer retention is to connect with your audience. Hence, the next thing you should do when thinking of expanding your business abroad is to learn about your new destination, you want to export your products. This will give you insights on how to successfully communicate with, sell your products to, and satisfy your foreign customers so they will keep on coming back.

You should pay special attention mainly to two questions about your new export destinations  to determine its suitability which  includes:

  • Which countries are leading importers and exporters for the category of products you sell?
  • Which countries charge the lowest duties?

3. Save Assets to Support Export Operations

Expanding business operations whether locally or internationally, doesn’t come without costs. The costs involved here, to be exact, including time and money. A good candidate for the exporting business shows consistent growth and stability in both income and sales volume within its nation.

This is because businesses just starting to export, require more assets to fuel it since export products might have different needs such as changes for developing in-house procedures (for e.g. how items are packed or sales are processed). Therefore, these businesses need to save and separate the assets which are to be distributed for export from their main business use.

4. Concentrate Your Energies and Start Small

With all the potential gain in wealth that can happen in the event of successful expansion, it can be tempting to want to branch out into several areas deemed suitable. However, if not handled properly, it can lead to a disaster marked by product shortage/surplus or miscommunication. In simpler terms, the chances of something going wrong is higher.

Hence, it is best to start small by selecting one area and putting all your energies into making the endeavor a success. Dipping your toes into one foreign market will build experience and give you a basic understanding of how to apply this to other foreign markets.

For example, Minnesotan amateur exporters start by exporting to Canada first because of its nearness and the advantageous North American Free Trade Agreement (NAFTA) tariffs which helps them gain exporting knowledge with lower costs.

5. Boost Overall Export Proficiency of Your Workforce

The Certified Global Business Professional (CGBP) credential provides its holders with a realistic understanding of the topics which constitute international trade such as supply chain management, international marketing, and trade finance.

Thus, by encouraging your employees to pursue this nationally-recognized professional degree you can ensure skilled manpower and promote the smooth running of business operations.

6. Build a Network of Experts

The exporting process is a series of complex steps, each consisting of its own intricacies (for e.g. international contracts, export licenses, letters of credit) that would be impossible for only one person to decode and guide you through. As a consequence, you will need to turn to several different people with expertise in different fields of export.

Depending on your needs, you will hire some internal ones while outsourcing certain jobs to external ones. This should lead you to create a network of experts to fall back to for support and guidance when you need it.

Fortunately, your area’s local District Export Council has consultants to offer advice to small and midsize firms. You can start by asking them about the nature of the business that will require professional help. At the least, you need the service of a banker, lawyer, and freight forwarder.

7. Seek Government Support

Another great resource for you to lean on is the Export Assistance Centres in Australia, this is available all across the country. There are also offices in many Australian Embassies as well as Consulates Overseas which consists of an international group of trade professionals. These organizations help Australian exporters to search for potential foreign business partners, aiding their exhibits during international trade shows and investigating market opportunities as well as ways to access new markets to benefit them.

Conclusion

No matter how meticulously planned and executed your strategies are, you will still face many hurdles along the road to success. You might need to redesign product packaging or completely change an entire distribution channel and sadly, all this process takes a lot of time, a minimum of two to three years before you start seeing success.

Moreover, many mistakes will be made and corrected. What matters is that you are taking steps for a positive change and also learning along the way. It is unreasonable to expect success in the first try. Therefore, it’s important to stand by your resolve and keep trying anyway. Good luck!

 

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How To Come Up With A Good Marketing Plan https://tfetimes.com/how-to-come-up-with-a-good-marketing-plan/ Mon, 29 Jun 2020 10:00:46 +0000 https://tfetimes.com/?p=54528

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