Tag: business

Law
Legal Branding

Running Your Business While Getting Divorced

Divorce is a profoundly intricate and emotionally charged process that extends beyond the confines of personal lives, often leaving an indelible mark on businesses owned or operated by entrepreneurs. This article delves into the nuanced ways in which divorce can impact businesses, shedding light on both the emotional and practical aspects that individuals must consider during this tumultuous time. As business owners navigate the complex terrain of divorce, the ramifications on day-to-day operations, financial considerations, legal complexities, and the broader business ecosystem come into sharp focus.

The Emotional Toll on Day-to-Day Operations

One of the foremost challenges encountered by business owners amidst divorce lies in the potential disruption to the daily operations of their enterprises. The emotional toll exacted by divorce can manifest in decreased focus, heightened stress levels, and diminished productivity. Such personal struggles can permeate the workplace, impacting team morale and, consequently, the overall work environment. As individuals strive to shield their businesses from the negative repercussions of divorce, maintaining a delicate balance between personal and professional life becomes paramount.

Financial Considerations and Asset Division

The financial implications of divorce are profound, particularly when a significant portion of an individual’s wealth is entwined with their business. The division of assets and liabilities becomes a contentious issue, demanding a thorough and accurate valuation of the business. The intricacies of this process often necessitate the expertise of financial professionals to ensure a fair and equitable distribution of assets. Financial considerations during divorce extend far beyond the personal realm, with ripple effects that can impact the long-term financial health of the business.

Complexities of Co-Ownership and Business Partnerships

For those who co-own a business with their soon-to-be ex-spouse, the complexities intensify. Untangling both personal and professional ties demands careful negotiation and strategic decision-making. Business partnerships forged in marital unions may need to be dissolved or restructured, adding another layer of intricacy to the divorce proceedings. Balancing the need for a fair resolution with the necessity of preserving the business’s operational integrity presents a unique challenge for co-owners navigating the complexities of divorce.

Legal Ramifications and the Role of Jurisdiction

Legal considerations form a critical aspect of the intersection between divorce and business ownership. The choice of jurisdiction, prenuptial agreements, and the nature of the business entity all play pivotal roles in shaping the legal implications of divorce. Business owners must seek expert legal counsel, like those from a knowledgeable family law firm from Essendon who know all about these intricate legal matters, to navigate this intricate landscape, ensuring the safeguarding of their business interests and compliance with relevant laws. The legal nuances involved in divorce proceedings underscore the necessity for a well-informed and strategic approach to protect the business’s legal standing.

Impact on Employee Dynamics and Workplace Morale

Office

A woman drinks coffee while working on a laptop

Employee dynamics within the business are not immune to the ripples of divorce. A leader’s struggles may permeate the workplace, affecting team morale and cohesion. Transparent communication becomes essential during such times, as employees may be concerned about the potential impact on job security and the overall stability of the company. Business owners facing divorce must proactively address these concerns, fostering an open and supportive work environment to mitigate any negative effects on the team and overall productivity.

Necessity of Succession Planning in Transitional Periods

In some cases, divorce may necessitate a change in the leadership structure of the business. If both spouses were actively involved in managerial roles, a succession plan becomes imperative to ensure the continuity of operations. This transition period demands careful planning to mitigate disruptions and reassure stakeholders of the business’s resilience. Succession planning during divorce is not merely a logistical consideration but a strategic imperative to safeguard the long-term viability of the business.

Preserving Business Reputation Amidst Public Scrutiny

Business reputation can also be at stake during divorce proceedings, particularly in the era of pervasive social media. Public scrutiny can amplify personal challenges faced by business owners, potentially impacting the brand image. Maintaining a positive public image requires a strategic approach to communication, emphasizing the commitment to business integrity and continued excellence. Business owners must navigate the delicate balance of personal privacy and public perception, recognizing that the preservation of the business’s reputation is integral to its long-term success.

Emotional Resilience and Support Networks

Entrepreneurs enduring divorce often find solace in support networks, be it professional associations, mentors, or friends. The ability to lean on these networks can provide emotional sustenance and practical advice, fostering resilience during a tumultuous period. Recognizing the importance of mental well-being is essential for navigating the intricate intersection of divorce and business. Building a robust support system becomes a cornerstone for maintaining personal and professional equilibrium, allowing business owners to weather the storm with strength and resilience.

Business owners facing divorce must adopt a strategic approach, drawing on expert advice, fostering transparent communication, and committing to the preservation of both personal and professional well-being. As entrepreneurs navigate the complexities of divorce, a holistic perspective that addresses the various facets of their lives is paramount to emerging from this challenging chapter with resilience and strength.

Website
Digital Branding

Why Is It Important You Have a Functioning Website for Your Business?

A functioning website isn’t just a nice-to-have; it is a fundamental necessity for businesses of all sizes and is imperative for an eCommerce business. Whether you operate a small local shop or a global enterprise, an effective online presence is key to success. Here a professional eCommerce SEO agency in London tells us why having a functioning website is so important for your business.

1. 24/7 Accessibility

Unlike a physical store with set opening hours, a website is accessible to potential customers around the clock, 24 hours a day, 7 days a week. This means that your products or services can be discovered and purchased at any time, even when you’re sleeping or on vacation.

Imagine a customer searching for a specific product at 2 a.m. If your website is operational, they can make a purchase right then and there.

2. Credibility and Trust

When comparing two businesses, consumers are more likely to trust the one with a polished website over the one with no online presence. A well-designed and maintained website lends credibility and trustworthiness to your business. It is often the first point of contact between you and potential customers. A professional website demonstrates that you are a legitimate and established entity.

3. Enhanced Visibility

Having a website makes your business discoverable on the vast landscape of the internet. Potential customers can find you through search engines like Google, increasing your visibility to a global audience. Without a website, you are missing out on valuable exposure. But if your website is optimized for search engines, you can attract organic traffic from people searching for the products or services you offer.

4. Cost-Effective Marketing

Compared to traditional advertising methods, such as print or TV ads, digital marketing through your website is cost-effective. Running targeted online ads can be much more budget-friendly than investing in a newspaper ad. You can reach a wider audience without the hefty price tag, especially through strategies like content marketing and social media.

5. Showcase Your Products or Services

A website provides a platform to showcase your products or services in detail. If you are an eCommerce website, you can provide customers with an extensive catalog of products and a seamless purchasing experience. You can include high-quality images, comprehensive descriptions, customer reviews, and even videos, allowing potential customers to make informed decisions.

6. Communication Hub

Your website can serve as a central hub for communication with your audience. It can host contact forms, chatbots, and even customer support features. This allows you to engage with customers, answer queries, and address concerns promptly. For instance, a customer with a question about your services can reach out through your website’s chat support and receive immediate assistance.

7. Analytics and Data Insights

Websites offer powerful analytics tools that allow you to track user behavior, preferences, and demographics. This data is invaluable for refining your marketing strategies, understanding your audience, and making data-driven decisions. By analyzing website traffic and user interactions, you can tailor your content to better meet your audience’s needs.

In an increasingly digital world, a functioning website is not just an option; it is a necessity for businesses looking to thrive and grow. It provides round-the-clock accessibility, builds trust and credibility, enhances visibility, and offers cost-effective marketing opportunities. Investing in a professional, user-friendly website is an investment in your business’s future. It is the digital storefront that can open your doors to a global customer base, showcase your offerings, and enable you to connect with your audience on a whole new level. So, if you haven’t already, consider making your website a top priority for your business.

 

Create an effective Instagram profile
Digital BrandingPersonal Branding

What to Look for When Buying a Laptop for Business

There’s a strong probability that you’re thinking about laptops when your small business has to purchase new computers for your employees. Your staff can operate remotely from locations like their homes, airports, clients’ offices, or hotels with the use of company computers. When buying a laptop businesses need to take into account not only their price but also elements that affect the product’s quality and endurance as this is something that will be used frequently every day. Purchasing a new business laptop may seem difficult because many of the top models share the same appearance, operating system, and functions. Keep reading to find out what to look for when buying a laptop for business and ensure your employees get the best option.

Determine your budget 

Setting a clear budget before shopping is the greatest approach to getting the most out of your tech purchases. Consider how your spending will be spread out throughout the number of computers you plan to purchase when establishing your budget. Entrepreneurs frequently overspend or underspend when they don’t establish a budget before shopping, particularly for technology. It’s a waste of time to examine expensive solutions if they don’t improve your bottom line because not every company needs a fleet of top-notch equipment. On the other hand, if you don’t obtain what your employees need the first time, underspending may end up costing you more in the long term. Filter your future searches based on price once you’ve determined your budget. Avoid even considering laptop models that are too expensive because doing so will ruin your finances.

Pick an operating system (OS)

It’s essential for you to choose the operating system (OS) that works best for your business. If you’re thinking about older models or refurbished laptops, it’s best to pay special attention to the operating system. Windows 7 and Windows 8 are examples of older operating systems that are either no longer maintained or are nearing the end of their useful lives. Also, your device may be more susceptible to hacks if it runs these operating systems. Consider the ultra-portable Apple Macbook Air – digiDirect, which is consistently rated as one of the top business laptops for users of Apple OS. Many people would contend that its operating system is superior to all others, and its screen resolution is still unmatched. The fact that all Apple products logged into the same Apple account can receive the same messages and notifications makes it a smart choice if you wish to keep all of your business equipment connected.

Choose your processor (CPU)

The laptop’s processor, central processing unit, or CPU is stated under the technical specifications. When evaluating several laptop options, the CPU should be your first consideration. The CPU is equivalent to the engine in a car, which is your laptop. For best performance and faster speeds, business laptops should be fitted with the newest Intel Core CPU generation or corresponding AMD processor models (Intel 9th Gen and above, AMD 3rd Gen and up). The clock speed of newer CPU generations is higher than that of earlier generations, making them faster.

Examine the memory and storage

Another crucial aspect to consider is contrasting a business laptop’s long-term storage with short-term memory. Ram or random-access memory is utilized for short-term memory, and your hard drive (also known as a hard drive or HDD) is used for long-term storage. Some computers have an HDD plus a solid-state drive (SSD) for long-term storage, whereas others just have an SSD. Avoid using any computers with less than 2GB of RAM because they are difficult to use. Instead, search for laptops with 4GB (excellent) or 8GB of memory (even better). Although some laptops have 16GB of storage, most business customers don’t need that much space. Unless you plan to edit a lot of videos and save a lot of footage on your computer, a minimum storage capacity of around 256GB should be sufficient for you. Keep in mind that you won’t have much hard drive space if you choose a Chromebook.

Hopefully, this article helped you decrease the options for business laptops based on your budget and what you require and ensured that you can make your purchase with confidence.

Legal Branding

The Guide To Property Investing In 2020

The Lost Contracts, a Relative Recovery in Denver, CO – My New Era

There is no denying the pandemic shutdown resulted in many lost home sales. Some sellers and buyers scrapped their plans altogether, while others put them on hold. Can these “lost” home sales be found again? The strength of the recovery will largely depend on price point.

Despite a quick rebound in traffic once showings resumed, the Denver metro sold count was down around 24% year-over-year between March and June. For this same period, there were 4,820 fewer closings than in 2019.

One encouraging detail is that more contracts have been written since showings resumed than had been written in the same timeframe last year. This suggests the market will recover at least some of the lost sales from the spring as these contracts finalize.

The recovered home sales have not affected each price point proportionately. Of the new contracts aforementioned, around 49% of them fall into the $0-300K and $300-500K price segments, despite these segments having together made up around 67% of the overall market share back in 2019.

 

Benefits Of Investing In Commercial Real Estate – Ideas Plus Business

There are lots of benefits of investing in commercial properties. They include:

1. High returns
As the popular saying goes, the higher the risk, the higher the reward.

Commercial property returns and far more attractive than those of residential properties.

A research study conducted by the National Council of Real Estate Investment Fiduciaries found out that commercial real estate investments have an average return of 12.7 percent annually compared to residential properties which have an average of 8.8 percent.

More space attracts more tenants which results in more money in your bank account. This is one of the best choices for an investor who wants to diversify his or her portfolio.

2. Good tenants
It can be hard for investors with residential properties to find tenants who will look after the property like their own. On the other hand, commercial properties attract corporations and businesses.

Since the tenants are backed by their organizations, they are more likely to take good care of the property. Good tenants will make your life easy.

3. Long-term leases
Commercial leases are usually longer than that of residential properties. They normally start from six to twelve months.

If you ask around, you’ll find out that most properties have been leased anywhere from five to ten years. For the investor, this means lower vacancy rates and turnover costs.

Long term leases are linked to reliability and positive cash flow. Commercial investors can end up dealing with undesirable tenants for a long time.

However, they can avoid this by following the law and appropriate application processes.

4. Easy to increase value
One of the major differences between commercial and residential properties is how the property values are determined.

Residential real estate is greatly influenced by other similar properties while commercial properties are impacted by how much revenue they generate.

In short, the higher the revenue a commercial property generates, the higher the property will be valued. With qualified tenants, commercial investors will witness an increase in value faster than residential properties.

5. Triple net leases
Triple net leases vary depending on the situation. However, they are extremely important for investors with commercial properties.

A triple net lease ensures that the tenant handles all property expenses including taxes. All the investor has to pay is the mortgage.

Big organizations such as Walmart and Starbucks sign this lease to maintain the look and feel that goes hand in hand with their branding strategy. The tenants manage all other costs while the investor pays maintenance costs only.

There are different types of leases that you can adopt. However, a triple net lease will accelerate your progress.

Six Fresh Trends Shaping the Face of the Real Estate Industry – Digitized House

Trends are an ever-changing phenomena, whether it’s the fashion industry, music, business, technology, or real estate market. These shifts, however, may not always be positive for the respective genre. But in the case of real estate, things are looking up. As 2019 winds down and we head toward 2020, there’s a strong movement toward real estate technology, known as PropTech. Let’s take a look at PropTech and other fresh trends that are shaping the real estate industry.

  1. Tech Companies Entering the Real Estate Sector
  2. Increased Investment in PropTech
  3. Green Is hot
  4. Alternative Forms of Housing
  5. New Technologies Are on the Rise
  6. Increasing Social Impact on Investment
Concept house - 70

How to Sell A Multifamily Property Fast for Cash – Highest Cash Offer

 

Review All Leases & Tenant Rights

It’s absolutely critical to review all the leases and occupancy for each unit in your multifamily home before you put the property on the market. If you plan on selling the home with tenants remaining in the property, potential buyers will have several questions for you regarding leases and occupancy. These questions include what are the terms of any remaining leases, the rent amount and what it includes for each unit and are there any security deposits being held.

You also need to be cognizant of the rights of your tenants, which are different from state-to-state. Be sure to review your local tenant rights before putting the home up for sale.

Selling a multifamily home with tenants on extended leases can be an extremely difficult process. Your chances of a sale will improve dramatically if the home is empty.

Prepare the Property for Prospective Buyers

No matter the type of property you plan on selling, you must make sure it’s prepared for prospective buyers to view. In most cases, multifamily homes are viewed as investments, so a buyer isn’t going to want to invest in a home they believe needs a lot of work.

When preparing the home to be viewed, ensure all the doors and locks on the property are working properly. Few things look worse to a potential buyer than struggling with a troublesome door or fidgeting with a faulty lock.

If there are designated parking areas on the premises, ensure they are clearly defined and in presentable condition.

If there any common areas on site, be sure to tidy them up before any showing.

Finally, don’t forget about curb appeal. Simply dressing up the front door, sweeping sidewalks or walkways and trimming bushes or flower beds can help make a great first impression.

Key trends impacting the Tampa Bay market in 2020 – TBBWMAG

While there are many factors that could put the U.S. economy at risk, from trade issues to record-high stock values that simply can’t keep increasing forever, there are also many reasons to feel confident about the economy in 2020 and Tampa Bay’s outlook.

For example, the U.S. cranked out an average of 180,000 jobs a month in 2019, leading to an unemployment rate of 3.5 percent in December – the lowest in 50 years. Job openings were at an all-time high at the end of the year and wage growth finally began to accelerate. One of the most telling stats is the quit rate, or a number of people who leave a job willingly, which is currently at a record high nationally. This means the average worker is confident they can leave a job’ and find a new one, which wouldn’t be the case if there was widespread economic uncertainty on the horizon.

At the local level the Tampa Bay economy is still in great shape, Thorpe said. The market ranks no. 13 in the country for job growth and the 3.1 percent unemployment rate was well below the national average.

 

Home Selling 101 For 2020 – Tre Pryor

Real estate isn’t just a matter of training how to “talk” to people and convincing them to buy your property. A huge part of it is ensuring you’re providing them with the kind of product that they’ll surely buy – not just because they want it, but because it’s the best option for them. Home selling 101 is putting your home’s best foot forward. From the elements of the property itself to the updates to the presentation—making sure everything is in tip-top shape. Below are four keys to focus on that will make your house sell quickly for the highest possible price.

  1. Aesthetics Seal the Deal
  2. Repairs and Updates Can Improve Your Price
  3. Sometimes, It’s Location, Location, Location
  4. Documentation Matters

Home selling 101 means tackling all the important things. When it comes to a successful real estate transaction, it’s not just about a slick salesman. It more about what you are offering. Nothing makes a home sale better than actually showing off a good home.

With the above considerations in mind, you’ll have a good set of things you may want to ensure you have before you proceed with your home sale. And if you don’t have these elements in check, you might want to revisit the drawing board and plan your house sale accordingly.

ARE YOU AWARE OF US HOMEOWNER TAX CHANGES? – ACME Real Estate

Mortgage Interest Deduction

The current mortgage interest deduction covers debt up to $750,000 and was created as a way to make homeownership more affordable for buyers. This was scaled back from $1 million beginning in 2018. What it does is cuts the federal income tax that a qualifying homeowner pays by reducing their taxable income by how much mortgage interest they pay.

There is an exception to the law for buyers who were under contract by December 15, 2017, and closed by January 1, 2018. Another exception involved refinances, where the law treats the new loan as if it originated on the original loan date, meaning the $1 million would apply.

Property Tax Deduction

In the past, homeowners were able to reduce their taxable income by the total amount of property taxes paid. However, this has now been reduced to a total of $10,000 for the cost of property taxes along with state and local income taxes or sales taxes.

Home Equity Funds

Homeowners used to be able to borrow against their home “for reasons other than to buy, build or substantially improved (their) home,” meaning an owner could have borrowed from a home equity line of credit to help pay for a child’s college tuition and used this as a tax deduction. However, this too changed in 2018.

Now, interest paid on home equity debt can only be deducted if the money was used “to buy, build, or substantially improve the taxpayer’s home that secures the loan.”

Mortgage Interest Deduction Changed for Second Homes

Homeowners can continue deducting interest on mortgage debt for both their primary and second homes, but the $750,000 limit of eligible mortgage debt does apply as discussed above.

 

Expert home seller advice by a top Real Estate Broker

In this article: How to sell your house without paying for updates. Learn how to get your property ready for the market and protect your money. If you’re like me you’d want to get the absolute highest and best price selling your house. Obviously, if my house needs a bit of TLC it won’t be winning any awards or grab the same price as the house down the street featured in Curbed that just sold. That house is in better condition and has a view of DTLA.

If you live in reality and follow this advice you’ll earn more money in the sale of your home every single time.

Getting your home ready to be offered for sale on the MLS represented by a local Realtor.

Side note – You could offer your house for sale “off-market” or “pre-MLS” to test the waters for a higher price. When a house is offered as a “quiet sale” it appears to be more desirable or special to the general public. If it doesn’t fetch the price you want either adjust your selling price expectations or there are a few other strategies listed below to get top dollar.

WHY REAL ESTATE IS LIKE DATING? – Break Up With Your Rental

Imagine the hunt for Prince/Princess Charming sans crappy one-night stands, catfishing, lies, and the “not ready for commitment” factor. The Multiple Listing Service (or MLS—a large online database of homes for sale) is like Tinder or Bumble, but instead of swiping right for your next potential date or possibly the man of your dreams, you are hunting for a prime investment to build your personal wealth—and this fish wants to be caught! The outcome? You’re the one who owns the castle and all the equity that goes along with it. 

Looks can be deceiving

I’m going to break down and demystify the whole property buying process for you, so whether you’re ready to take the leap to buy something now or two to five years from now, you will have a plan of action.

The past does not determine your present

I’m encouraging you to start thinking of real estate not as the conclusion to a love story, but as the building block to your financial future.

Why aren’t you married yet?

The most annoying question of all time. Learn how real estate can turn you from a bystander into the star of your own life.

 

HOW TO SELL AN EMPTY PROPERTY? – Beat Color

 

Exteriors renewing

Selling empty properties means that interiors photos will not be quite as appealing as they would be for a furnished property, so it is vital that the exterior photos are exceptional. So how to make the exteriors be stunning? Don’t think it is a big problem. Take it easy and write down basic things which need to be done. For example, repainting the wall and the fence, mowing lawn, sweeping out all the dead leaves, collecting litter or removing broken objects are necessary to be listed… After finishing these things, your exteriors will look like new again. If possible, you can make use of empty land to plant some flowers or tiny trees. Try to make the exteriors stand out, because customers prefer to see something in those photos that will make them want to arrange a viewing.

Interiors preparation

Even though interiors is empty, it still needs some touching up because empty rooms can reveal many little flaws, scuffs, nail holes and cracks which you may have never noticed. However, these problems can be fixed by putting a fresh coat of paint on the wall. Painting rooms not only gives you the opportunity to neutralize the colors if your chosen hues were on the bold side, but also helps to convey subtly a sense of newness. Floor is another part you should keep an eye on if removing your furniture reveals worn-off wood finishes, dingy carpets, or blackened grout in high-traffic areas. Damaged sections of flooring will make the house look like abandoned, so if your budget allows consider getting them repaired. If this is not feasible then hire a good floor cleaning machine and tidy them up as best you can.

Staging the empty house

Empty rooms can be difficult for buyers to get a clear sense of how big the rooms. Empty dining rooms or bedrooms may actually appear smaller than they are, making buyers nervous about whether their furniture will fit. However, this problem can be fixed by adding a few tasteful items that can anchor the eye and show the relative spaciousness that your home offers. A neatly-made bed in the master bedroom can work well, or a painting hung near an accent chair in the living room. If you haven’t got the furniture to spare, you can use virtual staging service which doesn’t cost much. Using this service, you can stage your house with computer-generated items and your house will look like fulfilled and stunning as a furnished house.

Somewhere Only We Know

Easy ways to sell a property to a buyer even when you don’t speak their language – Kyero

One of the useful functions of Kyero we often talk about is the ability to translate your listings into 13 different languages. But some agents we speak to are reticent about using this to market themselves to international buyers because they’re worried they won’t be able to speak to them in their own language if they make an enquiry. To give you a little bit of extra encouragement we’ve come up with a few ways you could overcome the language barrier and make those international sales.

  1. Establish if there’s a common language
  2. Use Google translate
  3. Use a translator
  4. Let the property do the talking If you really can’t find a suitable way to communicate that works for both parties, there is another option – you can let the property speak for itself.If you provide the right information on your Kyero listings, provide attractive and honest photographs and use the Kyero translate function, your buyer will already have got a very good idea about the details of the property and whether they’re interested. The viewing should then become a formality.In which case you can guide the buyer to the property, point out the things that make it particularly special and let them make up their own mind.
  5. Establish key features to find the right propertyIf you receive a request for help from a potential customer with whom you can’t find a common language, it may be a good idea to aim to narrow down their search criteria so that you can focus on finding a property that meets their needs. Try using one of the methods above with the intention of establishing exactly what the enquirer is looking for. You’ll then be able to scour your portfolio for the right thing and avoid wasted time and frustration on both sides.Whichever method you choose, there’s no need for language to be a barrier to a successful sale.
Windows

 

Hire Property Management Agency! – Morris Invest

If your goal is to maximize your profits and expand your portfolio, then managing your own investment properties wouldn’t be very practical, even if you feel you’re capable of pulling off the job. This is where a property management company comes in. They can successfully manage your real estate investments and ultimately funnel more money into your bank account! Here are reasons why:

  1. Avoid Financially Draining Vacancies with Proper Marketing Strategies
  2. Escape Financial Risks by Weeding Out Bad Tenants
  3. Efficient Rent Collection Ensures a Consistent Cash Flow
  4. Boost Your Revenue by Achieving Higher Tenant Retention Rates
  5. Save Thousands by Letting a Management Company Handle Property Repairs
  6. Build Great Wealth by Investing in the Best Rental Markets
  7. Grow Your Portfolio by Seeking Out Other Profitable Real Estate Investments
Digital Branding

Reinvent Your Cloud Potential with these Top AWS Tips and Tricks

With over 100 on-demand cloud computing services under its belt, Amazon Web Services is a force that propels the Internet forward. In fact, it occupies a sizeable 34% of the whole cloud (IaaS and PaaS) space easily over competitors like IBM, Google, and Microsoft.

 

The wide service offerings of AWS include some heavy-weight cloud-computing services like elastically provisioned servers (EC2), object storage (S3), payment processing (DevPay), monitoring (CloudWatch), content delivery networks (CDN), among many others.

 

The USP of AWS lies in its on-demand availability, quick scalability and also affordability. In fact, a service like AWS is considered to be the backbone that strengthens the IT operations of modern-day organizations.

Source: Pexels

AWS helps all kinds of enterprises meet their computing needs, from startups to giant corporations. But, given the complicated spectrum of services and also the pace at which they are constantly updated, a lion’s share of AWS’s true potential is under-utilized.

 

Here are some ways how you can tap into that untapped potential that will not only improve your organizational performance but might also save you some costs.

 

Leverage the Free Elastic IP Feature

Unknown to many, and even if known, not used properly is the Free Elastic IP feature in AWS. By default, AWS provides one free Elastic IP for every running instance. This free Elastic IP in AWS assigns a static IPv4 address which helps in dynamic cloud computing services. This elastic IP address helps in covering up any software downtime or instance failure by remapping the affected instance to another instance.

 

Save Costs with Amazon Load Balancers

AWS Application Load Balances can help cut down your ELB costs by at least 90%. AWS has priced its ALBs at $0.0225 per Application Load Balancer-hour (or partial hour). AWS ALB also supports host-based routing and path based routing. Most importantly, a single ALB can replace upto 75 ELBs. The only catch is that AWS ALBs do not support TCP protocol, however, support is available for HTTP and HTTPS.

 

Configure Multiple Cloudwatch Alarms

Normally, Cloudwatch alarms are raised when instances breach a set threshold. The alarm is notified to a team which is responsible for troubleshooting and fixing the issue. However, if the same alarm is to repeat, it is not possible to alert a different team, possibly a higher authority who could fix the issue.

 

Configuring multiple Cloudwatch alarms will help notify such breach instances and take timely action. The good news is that AWS Cloudwatch has such an option to configure multiple alarms for various breach instances to alert different teams.

 

Source: Pexels

 

Use Compression at the Edge Feature in Cloudfront

AWS allows you to compress certain file types and also serve the compressed files directly to users. The compressed files sometimes are just one-fourth of the original size. Since the cost of Cloudfront data transfer is based on the total volume of data delivered to users, Compression at the Edge feature would save tons of money. Also, compressed JavaScript and CSS files will help accelerate your page loading speed thus delivering superior user experience.

 

Save Small-Sized Chunks in Glaciers

Amazon Glacier storage offers a safe and scalable way to archive data for the long-term. But, retrieving data from glaciers is a time-consuming affair. Also, it can prove to be expensive too depending on the volume of data that is being retrieved.

 

You can save time and effort in such a data retrieval process by uploading data in small-sized chunks. Organizing files into small-sized chunks will make it easy to spot the right dataset that needs to be retrieved easily and quickly. The small-sized retrieval also ensures that your data retrieval costs are contained to a bare minimum.

 

Use Versioned Object Names in Cloudfront

It takes approximately 10 to 15 minutes to complete a single invalidation request in Cloudfront. If the size of the CloudFront cache purge request is big, then the time taken would also be proportionally longer. Now imagine getting 1000 requests or so every month. It can hamper a web administrator’s productivity significantly. But, not purging CloudFront cache can lead to invalidations too. Using versioned object names is a better and faster way of handling invalidation requests.

 

In-Built Usage Monitor

As a scalable cloud-computing service, AWS is billed based on your actual usage. So, it is wise to keep a constant check on your usage, just to keep track of any spikes that you may not be aware of. Also, you can also set soft limits for specific regions to keep your AWS billing within limits. Rest assured, cost-savings could be well-planned and achieved with AWS.

Final Thoughts

AWS has achieved a cult status in the cloud computing space. Its competitors are nowhere close to matching the giant’s offerings. The fact that it was spun off from Amazon’s very own enterprise IT operations makes it flexible and scalable for all kinds of businesses.

 

These tips will help you make the most of AWS without having to break the bank. They will help you keep your cloud computing costs within limits and also take your cloud infrastructure efficiency to new heights.

 

 

Author Bio:

Pratiksha Prasad

Digital Marketer with over 7 years of experience. Passionate about the latest trends in Digital Marketing, Technology, Cloud Computing, and App Development.