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Performance and well-being: can they live in harmony?
Live to work, or work to live?
We know, sometimes it really does feel like a never-ending battle between weekdays and weekends. Personal life vs. career. It can be hard to strike that balance.
Even more so if you’re a manager or an employer, juggling your own work-life balance while keeping your team engaged and satisfied at work.
The solution is simple: well-being isn’t just reserved for our downtime – we need to find well-being in all aspects of life, including at work.
Here at XXXX, we’re all about bringing out the best in people – helping them shine, whether that’s at home or at work. That’s why, in this post, we want to give you some insight into self-determination theory – what it is, what it does, and what it can do for you!
Let’s dive into self-determination theory.
In a nutshell, self-determination theory is all about our motivation and personality regarding our innate psychological needs, our reasoning for making choices when you take away external factors and influences. How much of our behaviour is self-motivated and therefore self-determined?
Intrinsic motivation
Self-determination theory and intrinsic motivation go hand in hand; the two concepts are closely linked. Intrinsic motivation means doing something because you feel like it, simply because it gives you satisfaction and enjoyment.
Intrinsic motivation can come from doing your favourite parts of your job.
Extrinsic motivation
This leads us to extrinsic motivation, on the other end of the scale, which equates to doing something because of an external force.
Back to the workplace, think about how well someone will do a task if they are only motivated by extrinsic or external factors.
‘I need to do this because my boss told me to.’
‘I’m only doing this because I’m getting paid to do it.’
‘If I do this, I’ll get to go home afterwards.’
In other words, clockwatching and counting down the minutes until closing time.
The goal is to make extrinsic motivation more autonomous or self-determined by regulating it through identification – attaching meaning to the action.
Consider the above statements again, and how they can be regulated through identification.
‘I need to do this because my boss told me to.’
In this scenario, a manager or employer should take the time to explain why something must be done and why it is important to them.
‘I’m only doing this because I’m getting paid to do it.’
It’s a fact of life that everyone needs money, but what do you need that money for? What does it mean to you?
‘If I do this, I’ll get to go home afterwards.’
There’s nothing wrong with being motivated by working smarter, harder, or more efficiently in order to get home on time to your loved ones or head out to spend some time with your friends. The aim here isn’t to cut corners, it’s to manage your workload more effectively and develop your skills so you can maximise your free time.
So, you see that simply by attaching personal significance and meaning to an action, you can adjust your mindset and see things in a different light, making the shift from extrinsic motivation to identified motivation, which should weigh less heavily on your shoulders. Note that to achieve this in the workplace, the responsibility lies with both the manager and the team member.
Identified motivation is more like doing something because you know it’s the right thing to do, and it’ll pay off in the long run. It’s hard work, but we recognise its value in the bigger picture.
The same goes for the athlete sticking to the gruelling meal plan for the end goal.
It has to be done to get to the good stuff. What’s more, it has personal significance in your life, and most importantly, it means something to you. Motivation is a complex thing. People can be motivated by a number of factors. This personal significance gives us the energy to go that extra mile.
Take exercise for example.
You’re an athlete – about to face a challenging workout.
Are you doing it because your coach or manager said you had to do it?
Are you doing it because you’re getting paid to do it, and you’re just trying to get to that next paycheck?
Are you doing it because your teammates are doing it too?
Or, are you doing it for YOU?
Consider this on a personal level: you’re about to go out and nail your target for your run.
Why are you doing it?
Did your doctor, friend or spouse tell you that you need to get fit and take better care of your health?
Have you entered a competition, where you’ll soon be put to the test?
Are your friends or colleagues also on a health kick?
Or you simply want to clear your mind and get your blood pumping?
See, we told you motivation is complex.
The key message here is that when it comes to motivation at work, money isn’t everything.
While we’re the first to admit that everyone likes getting a raise, you can’t deny that it’s just a temporary boost. A bigger paycheck won’t solve any underlying issues in the workplace.
Anyone who has ever accepted a counteroffer from their existing employer whilst in the process of trying to resign for a new job can tell you first-hand. They soon find themselves back on the job market when more money doesn’t magically solve the fundamental issues at play.
Data from Gartner (formerly CEB) shows that 50% of employees who accept a counteroffer leave within 12 months.
‘It’s almost like when you’re in a relationship and you’ve decided you want to break up, but your partner does something that makes you stick around a little longer...Employees who accept a counteroffer are most likely going to quit at some point very soon.’
Brian Kropp, Group Vice President and Chief of HR Research at Gartner.
As we mentioned earlier, motivation is not black and white, like all the best things in life.
We are only human, and of course, some of us are motivated by societal factors, things like salary, social proof and status. And it’s okay to be motivated by these factors! As long as they’re not the main thing getting you out of bed in the mornings.
Performance and well-being levels will increase with the addition of just one simple thing: what we’re looking for is autonomous motivation, a.k.a. being motivated for the right reasons.
Autonomous motivation is proven to support performance and well-being at work. As long as autonomous motivation is present in some form, whether that’s 30, 50 or 70% of the time or more, you will see an improvement in levels of performance and well-being.
Staff turnover provides a stark indicator of how your workplace measures up when it comes to autonomous motivation. Don’t let it get to this stage – talk to us about getting your team members to feel engaged and fulfilled, with a sense of connection and belonging.
So, how to achieve this in your workplace?
There are three universal basic needs that must be fulfilled for someone to be motivated by autonomous motivation. These three basic needs motivate us to act and are essential for our well-being, so we can learn, grow and function optimally.
First up, affiliation – the innate desire to be part of a team and belong somewhere. It’s only natural to want to ‘find your tribe’ and believe that we are all interlinked, to seek human connection, form relationships and bond.
This is where team-building efforts and relationship-building tools can really make a huge difference, as well as bringing in coaches, facilitators or experts in HR. Things like being on first-name terms with your co-workers, making sure new team members get a proper welcome, team-building days and company retreats. Giving employees the opportunity to work with different teams in alternative locations, anything to help strengthen the bonds between team members and increase the sense of belonging.
In fact, as workplaces shift from promotion-based career progression to growth-based career progression, people are working together more than ever before. This means that our roles at work are overlapping and becoming more collaborative as our skill sets become more diverse. Data shows that people are driven by developing their career more generally and improving their overall employability rather than simply striving to get that next promotion or pay rise with their current employer on repeat. As a result, employees are becoming ever more valuable and are not easily replaced. The costs involved in replacing employees continue to rise via advertising, interviewing and training, and the job market becomes increasingly competitive.
Our next basic need is for competence – if I invest energy and take action, is the result in line with what I wanted to achieve? We can experience competence by doing what comes easily and naturally to us. Asking ourselves, what am I good at? This is why it’s in our interest to discover our personal areas of genius – our natural strengths. Team-building games and activities are ideal for helping team members discover what qualities their team members most appreciate in them. Sometimes people need a little nudge to help them realise what they’re good at. The realisation that our colleagues recognise and value our work not only generates a real sense of belonging and connection, but employees are engaged and enthused by their projects.
The third and final, and arguably most important basic need is for autonomy – this means taking action independently, having an impulse and being able to act on it. What’s more, it means your actions should be aligned with your values, that you’re taking action in the direction of your own value system. Taking action not in line with our core values wouldn’t satisfy our need for autonomy. We need to be able to follow our impulses to use our natural strength(s), to be more of that, whatever our personal area of genius is. The aim of the game is to ‘be yourself to the maximum’ at home and at work.
If you are a coach, consultant, facilitator or work in HR, keep these three basic needs in mind at all times, above all when designing activities and sessions for your clients.
Did you know?
Employee engagement is now such a hot topic that entire companies are built around it. Claro Analytics (formerly Joberate) helps companies anticipate which employees may be thinking of leaving. They use data to hone in on departments with high ‘likely to leave’ ratings, so they can get to work on team building and overall employee engagement, often bringing in external experts. Claro Founder and CEO, Michael Beygelman, compares this data science to the way in which credit scoring allows us to predict who will and who won’t repay debts and loans.
Everything we do at XXXX has been designed to work on these three basic needs.... from our ‘feel good’ card game suitable for all ages to our team building sessions delivered to companies large and small. Our unique technique for sharing feedback – the Positive Impactful Feedback Method – was also designed with this in mind. You can read more about this method in our post, One feedback method to rule them all.
It’s true what they say, you know, ‘Choose a job you love, and you will never have to work a day in your life.’ By honing in on our natural qualities and areas of genius, above all with a strengths-based leadership approach, performance and well-being really can live in harmony for optimal functioning at work.
And so, it’s time to ask yourself, are you living for the weekend, and most importantly, what are you going to do about it?
Speak to us, here at XXXX.
Schedule a call here or visit our website to find out more.
One feedback method to rule them all
Delivering bad news? Well, no one likes it…
And how about giving good news? And more specifically, good feedback?
If you ask me, things can get a little uncomfortable there, too!
Whether you’re an employer, manager or coach, giving feedback to your team or client can be challenging, especially giving feedback effectively. Finding the right time, getting the tone right, no hard feelings... And most importantly, how do you know whether your feedback is working? Are you getting through to them? Are your team engaged, motivated and inspired?
We’ve taken a closer look at the latest research in self-determination theory on the two leading scientifically proven feedback techniques. Namely, promotion-orientated feedback – sometimes also known as descriptive feedback, and change-oriented feedback. So, these two types of feedback, of course, revolve around either promoting or changing a targeted behaviour. However, giving feedback goes far beyond positive and negative. It’s not as simple as the good vs. the bad. When delivered effectively, feedback can be a powerful tool and force for change.
First up, promotion-orientated feedback, a.k.a. descriptive feedback.
Promotion-orientated feedback involves stating what you observed in order to show your approval or appreciation. It is descriptive and provides information. It is important to state what occurred and not skip straight to praising the recipient. This means that the recipient will observe what occurred in a positive light and, in turn, learn to ‘praise’ themselves. As a result, their emotions and performance will become less dependent on external influences.
Next, we look at change-orientated feedback.
Where promotion-orientated feedback encourages desirable behaviours, change-orientated feedback suggests that well, changes need to be made!
If change-orientated feedback is indeed closest to our idea of giving negative or ‘bad’ feedback with the aim of changing a targeted behaviour, why bother with it at all?
When faced with delivering ‘bad’ news, people often find themselves distorting, delaying or withholding the message. However, research shows that change-orientated feedback is highly effective when delivered promptly, as well as privately and in a considerate tone, focusing attention on the task and not the person. Additionally, a choice of clear and attainable solutions should be offered.
To date, the consensus was that with regard to self-determination theory, the most effective methodology for delivering feedback is promotion-orientated feedback.
Change-orientated feedback, on the other hand, was considered the less effective of the two and somewhat negative. Research now shows that change-orientated feedback, when delivered in the right way and in an environment where autonomy is supported, can in fact be more effective, with the method of delivery and overall environment being more important than the feedback itself.
Motivation can result from being informed and made aware of the discrepancies between actual and desired outcomes. Have you ever stopped to consider that some team members are simply not aware that they are not meeting expectations? Providing guidance on the changes that need to be made can instil the desire to perform better, with the team member consequently investing more of their time and energy.
As human beings, we all have a universal desire for autonomy, whether at home, work or on the sports field.
Coaches and mentors, just like managers and employers, can shape their team members' and clients’ behaviour through the use of feedback, conveying information about how performance and behaviour measure up to expectations. Coaching behaviour and sports psychology are a science all of their own, and we want you to consider the concept of autonomy from the perspective of coaches and athletes in order to gain a deeper understanding of autonomy-supportive behaviours.
To have a sense of autonomy, team members and athletes alike must feel they are in charge of their own actions and that these actions are aligned with their values. This can be achieved through offering choices (although still within the constructs of the workplace/competitive sports, we can, of course, make choices), opportunities to use your initiative (for instance, without consulting authority and being able to ‘just go for it’), justifying reasoning behind rules and regulations, as well as considering team members’ feelings.
Here are some examples of this.
Making choices: Discussion between athlete and coach on future career trajectory, what their next steps should be, choosing between concepts within diet and exercise planning based on their personal opinion and experience (feelings), which goals to prioritise and why.
Initiative: Although you probably have a pre-agreed ‘game plan’, situations will often arise that you didn’t anticipate in your coaching sessions. Trust your athlete/employee to make the call. Observe and appreciate their choice.
Justification: It’s not enough to make constant, short and simple interjections. You must explain why things are the way they are, that research has shown that something is most effective, not just on your authority.
Beyond autonomy, we also harbour a universal desire for relatedness, the desire to feel connected to others, whether that’s our colleagues in the office or our team mates on the pitch, and competence, the desire to have a valuable impact on our surroundings – meeting targets or scoring goals!
So the bottom line is that when it comes to delivering feedback in relation to SDT, don’t assume that promotion-orientated feedback is the only option. When delivered correctly, change-orientated feedback can be highly effective for achieving increased levels of motivation, well-being, performance and self-esteem as well as a marked decrease in amotivation.
At XXXX, we’ve developed our very own feedback method. It falls somewhere between the two we’ve looked at today, with a unique twist.
Everything we do is conducive to building an autonomy-supportive environment at work and in our personal lives, where change-orientated feedback will be well received and have a positive impact.
Positive Impactful Feedback method
The Positive Impactful Feedback method, or as we like to call it, the PIF, really is one feedback method to rule them all. Turn feedback upside down and make people feel relieved by letting them know that they are enough. Allow me to explain.
Step one: observation/facts
State the facts, simply state what you saw or heard. State what occurred.
Step two: strengths
What strengths were demonstrated? What is that person’s best self?
Step three: your appreciation
Say aloud why you appreciate it.
Think of a time when someone surprised you by showing their best self.
How did you react?
It’s never too late to tell them how it really made you feel, by using the Positive Impactful Feedback method. Try it!
These three steps will have an incredible impact on those around you.
Once you start and see the changes that occur, there’s really no going back.
Simply put, the more we are authentic and connected to our vulnerability, the more impact we will have on those around us.
Back to the most important question, and one we hear often during team building activities, even from the most experienced of managers, how do I know if my feedback is working? If you have given feedback effectively, following our method, the person on the receiving end will be moved.
Like most things in life, it’s about quality over quantity. Delivering one small piece of feedback effectively will have a far greater impact than frequent interjections that don’t hit the mark. So, the bottom line is to give less feedback overall – but to make it count.
We all know that being an employer or manager means wearing many hats. Like it or not, bosses play a huge role in their employees' lives. Data shows that when people leave a job, they are often leaving due to workplace relationships and not the work itself. A manager or employer treads a fine line between being an authority figure, confidant, motivator and role model. A good manager must be skilled at their job, capable of training both new and existing employees, tactical, a good decision-maker and future planner, all while being inspirational and motivational.
It’s a lot to deal with, and that’s why we want to help you make small changes that can be implemented daily, providing practical tools for creating autonomy-supportive working environments and positive psychological experiences for team members.
Check back soon for our next post, all about self-determination theory and how it can help you and your team.
Why you should introduce the Japanese concept of Ikigai to your workplace
Found your zen? Now, how about finding your Ikigai?
The land of the rising sun has given us many things... As a country, Japan and its people have so much to offer, starting with their unique perspectives on life.
Perhaps you’ve heard of Wabi-Sabi, the Buddhist concept of finding beauty in what is impermanent and imperfect – a.k.a. accepting our flaws with grace.
Or how about Kintsugi? Meaning ‘golden journey’, Kintsugi refers to the art of repairing damaged objects with gold lacquer to create an object of beauty by celebrating its flaws, building on the concept of Wabi-Sabi.
Then there’s Kaizen: change for the better. Businesses around the world draw inspiration from Kaizen as the value of continual improvement through small changes. The concept is just as easily applied when it comes to personal development.
And don’t forget Kanso, all about eliminating clutter and expressing things as simply as possible...
In this article, we focus on Ikigai – and why you should introduce the Japanese concept of Ikigai to your workplace.
Japan has long been known for exemplary dietary and health practices, contributing to its citizens enjoying long and healthy lives, with the world’s largest population of people who live to age 100 or higher. Emerging studies suggest that the Japanese concept of Ikigai may actually be the reason behind these impressive statistics on work, longevity and living a happy life.
The Japanese concept of Ikigai, pronounced ee-key-guy, has long been a source of curiosity for self-development gurus everywhere, with many books written on the topic, full of simple secrets for a meaningful life.
The Japanese word Ikigai is thought to date back to the Heian period (794 -1185).
In Japanese, ‘iki’, means ‘alive’ or ‘life’, coming from ‘ikiru’, to live.
The Japanese word ‘gai’ can mean ‘benefit’ or ‘worth’, coming from the Japanese word ‘kai’, signifying a shell, an object considered to hold great value.
A reason for being, the meaning of life, your life’s purpose, a ‘raison d'être’, whatever you want to call it, this reason – that’s your Ikigai.
It’s the ‘why’ behind your work, why we are here, why what we’re doing matters. Human beings need to feel purposeful, to feel like they are doing something meaningful. People function best when they have a clear sense of direction at work, a plan and a life purpose.
Ask yourself, is your heart in it? That’s Ikigai.
Feeling at a crossroads? Existential crisis on the horizon?
Think of the Japanese concept of Ikigai as your very own compass – for finding supreme focus at work and in life.
North, east, south, west – passion, vocation, profession, mission.
1. What do I love? Passion
2. What am I good at? Vocation
3. What can I be paid for? Profession
4. What does the world need? Mission
Your very own map to satisfaction, happiness and meaning in life.
It’s no wonder that people who finally get their ‘dream job’ or start their own business see their sense of purpose skyrocket. People who experience these feelings of fulfilment talk about their business or project at work being their ‘baby’, ‘watching it grow’, ‘hitting milestones’, and it’s no surprise, they’ve found their Ikigai. You can find Ikigai outside of work too. Travelling, raising a family, writing a book, a simple hobby... It’s about striving to find purpose in life and at work.
Take some time to help your team find their Ikigai and watch organisational purpose and engagement grow.
Strategies for bringing Ikigai to your workplace
Start by creating a mission or vision statement that communicates what the business is and what it stands for. A mission statement is more than just a tagline for marketing purposes, it’s an opportunity to communicate purpose and build a community at work.
Next, start at the top. For team members to find their Ikigai, leaders must first seek out their own sense of purpose.
Communicating purpose is key. What is the purpose of this project? What is the purpose of that role? Continually reaffirm the company’s organisational purpose.
Now that you have outlined and communicated your organisational purpose, you can make decisions based on it.
Ask team members what matters to them at work and aim to include this in organisational purpose.
Part 2
The five pillars
Part 2 of the Japanese Ikigai concept is known as the five pillars.
Now here’s the thing, it is much easier to feel Ikigai and find happiness once we have created social connections.
These five pillars will make it much easier for you to find your Ikigai and satisfaction in life.
1. Start small
2. Accept yourself
3. Connect with the world around you
4. Seek out small joys
5. Be in the here and now
Shining our light on Marisa Peer's Rapid Transformational Therapy: Therapist, Speaker, Author and Presenter
Marisa Peer is a therapist at heart, practising for over three decades. Peer is also a renowned and captivating speaker, whether in the media or for live audiences on stages worldwide. Additionally, she is an acclaimed author of numerous books, covering topics from nutrition to self-confidence. She has received extensive praise, being described as ‘the best therapist in the UK ’, a ‘pioneering and motivational hypnotherapist, psychotherapist and award-winning sports psychologist.’
The most important thing to know about Marisa Peer? Her work is centred around health, wealth and love. Peer wants us to see the world in a new way. So, how do we make this shift? Well, we change our lives from within, of course!
Marisa Peer is known as the ‘therapist’s therapist.’ Often, she has taken on cases where other therapists have been out of their depth or unsure which path to take. Have you ever had or considered having therapy? Are you currently considering therapy? Have you considered trying Rapid Transformational Therapy or choosing an RTT therapist? Therapy is nothing to be scared or ashamed of. It could be said that there is still some stigma surrounding therapy. Sometimes referred to as psychotherapy or counselling, the definition of therapy can vary. Even the words themselves, ‘therapy’ and ‘therapist’, can lead some people to instantly question what’s wrong or what the problem is. Well, what if there isn’t a problem? Perhaps there’s no problem at all. Therapy is simply therapy, nothing more, nothing less. The aim of therapy is to help the person seeking therapy learn about themselves, to explore their feelings, behaviour and reactions. Do you want to keep behaving and reacting in the same way as you have on previous occasions? Or do you want to take control and work towards changing your behaviour patterns and reacting differently? You see, there are so many different ways of approaching your life and the people and events in it. Don’t let common misconceptions around therapy stop you from getting help where you could benefit from it. Millions of people around the world have already found a therapist and type of therapy that works for them.
The dictionary defines therapy as a treatment intended to heal or relieve a disorder or the treatment of mental or psychological disorders, though many people believe you don’t have to wait for a low point in your life to have therapy. Therapy can be a preventative measure, a routine form of self-care, protecting your mental health. Therapy can cover an infinite range of topics, exploring issues such as problematic behavioural patterns, thoughts or beliefs, feelings or emotions, concerns in a relationship and sometimes even physical discomfort or chronic pain (known as a somatic response).
Therapy can help us along our journey to being the best or healthiest version of ourselves, to live the best life we can, despite any adversity we’re facing. Now, who wouldn’t want that? We can use therapy to make adjustments to problematic behaviour or habits, help with painful emotions or better our relationship with ourselves and those around us. Therapy typically begins with establishing goals and outlining the steps to achieving these goals. As with most things in life, getting started is usually the hardest part! Just focus on reaching out to a therapist or RTT practitioner that appeals to you, and then take things from there, one day at a time – start working on those challenging beliefs.
Marisa Peer’s Rapid Transformational Therapy
Often abbreviated to just RTT, Marisa Peer works primarily with Rapid Transformational Therapy, also sometimes referred to as rapid transformational hypnotherapy. Marisa Peer and Rapid Transformational Therapy have been recognised globally for their success and effectiveness. Marisa Peer seeks to make a difference to ourselves and those around us through the use of Rapid Transformational Therapy. Rapid Transformational Therapy is centred around the most effective principles of hypnotherapy, psychotherapy, neuro-linguistic programming (NLP) and cognitive behavioural therapy (CBT) for unparalleled results. We’ve already taken a look at the definition of therapy, now let’s take a quick look at these terms.
Hypnotherapy
Hypnotherapy refers to guided hypnosis, a state of heightened focus and concentration led by a hypnotherapist. This state is often trance-like, and this hypnotic conditioning technique is comparable to the sensation of being deeply absorbed in a book or film, or even being very deep in thought or practising meditation. In this hypnotic trance, clients are then able to look inward to discover and utilise the natural resources within to help them make changes or take control of areas of their lives, for a transformative effect.
Psychotherapy
Sometimes described as talk therapy, psychotherapy is a way of helping people with all kinds of mental illnesses or emotional issues. Psychotherapy aims to help people manage problematic symptoms, unwanted habits or negative patterns for increased well-being, healing and better quality of life.
Neuro-linguistic programming (NLP)
Neuro-linguistic programming is an area of psychology centred around analysing strategies used for success and applying them to our own personal goals. It applies thought, language and behaviour patterns from past experience to our specific goals. What is interesting about NLP is that it works on the principle that all human acts are positive. As a result, if something goes awry or the unexpected occurs, it is not a negative experience. There are always some positive aspects and this is merely a learning opportunity presenting us with more useful information.
Cognitive behavioural therapy (CBT)
Cognitive behavioural therapy (CBT) is a talking therapy focussing on how our thoughts, attitude and what we believe can affect our actions and emotions. This therapy aims to teach participants skills for managing problems and challenging situations. CBT combines cognitive therapy (examining what we think) and behaviour therapy (examining what we do).
As you can see, there are so many different types of therapy available. Likewise, there really is a therapist out there for everyone, whether you choose a rapid transformational therapist or not!
More on Rapid Transformational Therapy
Going back to Marisa Peer’s Rapid Transformational Therapy, which takes elements of hypnotherapy, psychotherapy, neuro-linguistic programming and cognitive behaviour therapy and combines them with Peer’s 30+ years of experience in the industry, what makes this hybrid therapy method any different? Marisa’s neuroscience-based therapy differs from other methods in that it focuses on immediate effects. Any therapist will tell you that therapy is a journey like any other; it takes time and, of course, has its highs and lows. We certainly don’t disagree with these core beliefs, and know first-hand the benefits of continuous therapy sessions. Peer’s RTT is also suitable for prolonged use, allowing you to take on a deep and multilayered approach to your therapy, though it remains world-renowned for its powerful results and immediate impact. Many of Peer’s clients are high-profile: athletes, celebrities and politicians. She might only have one session with them in their busy schedules; that’s one opportunity to make her mark and achieve rapid results with this pioneering therapy.
Rapid Transformational Therapy delves right to the root cause of the problem, as opposed to beginning with the symptoms, like many other methods of traditional therapy. Marisa seeks to immediately rewire our neural pathways to cancel out negative behaviour patterns, bad habits, feelings of anxiety and outdated belief systems.
By taking a leaf out of Marisa’s book (both figuratively and literally; she’s published several) and using other personal development and relationship-building tools, truly anyone can work on their own neurological transformation. Start making extraordinary changes and make them permanent with the highly acclaimed Marisa Peer method. These lasting effects and permanent changes will help us strengthen empathy and connection in our personal lives and relationships.
Start today and make a powerful, permanent change.
Client B – Financial services
‘We hired Ella to write business articles for our company, and she’s been doing an outstanding job. Ella always meets deadlines and delivers quality articles every time that go beyond our expectations. Our followers and our team love her articles. She can write about so many different topics with ease and always does her research first. What was supposed to be a one-time contract became a collaboration, and we definitely recommend her.'
The lowdown on bookkeeping and accounting for small businesses and the self-employed
Self-employed or running a small business? The lowdown on bookkeeping and accounting for the self-employed and small businesses.
Self-employed or running a small business? You’ve probably found yourself pondering the world of accounts – and what exactly does bookkeeping consist of? Is it something we can do easily enough by ourselves, or is it best handled by an accountant? In this post, we’re going to run through the basic principles of bookkeeping and explain why it is so useful – in fact, you should make it top of your to-do list! Allow us to suggest some tools for getting it done independently and with ease, which, as an entrepreneur, should be music to your ears!
I’ll be the first to admit that it’s easy to get confused between bookkeeping and accounting. While both processes share some common elements, primarily that they’re both key components to your business, they actually come into play at different stages of the financial cycle.
Simply put, bookkeeping focuses more on administration and consistently recording daily transactions.
Accounting makes subjective assessments to produce financial models, based on bookkeeping records and other financial information, for advisory purposes to give insight into your business.
It is inevitable that there will be some crossover between these two roles, above all in a financially successful business, but generally speaking, bookkeeping is about helping to keep things organised, while accounting provides analysis and consultation.
These days, however, with the advent of online bookkeeping, accounting and business management software, small business owners and the self-employed are taking things into their own hands, taking care of everything from accounting, billing and invoicing to projects, time tracking and CRM with the help of these complete online solutions.
Books and records for small businesses
Categorising all of the incoming and outgoing payments is what’s referred to as ‘bookkeeping’, this is done in different classes of accounts and recorded in a general journal. The general journal is a continuous and chronological record of all financial transactions made by the company within a period often called ‘the financial year’. Making an entry in the books means logging at least two actions: a debit and a credit in the general journal. Note that in accounting, in a bank account, a receipt is recorded in debit and a withdrawal in credit. It all comes down to a basic principle of double-entry accounting. That’s to say that there is always at least one posting line under debit and one under credit (but there can be a number of lines in debit and just one in credit for the same transaction, or vice-versa). In one entry, the number of posting lines logged under debit must be equal to the number of posting lines under credit. In accounting lingo, this means that the entry is ‘balanced’.
Example of a journal entry for receipt of a payment of a customer invoice amounting to $100 + tax ($115.47):
Image 1
Example of an entry paying for an expense amounting to $23 + tax ($26.56):
Image 2
In these examples, our accounting entries are balanced, as the total amounts in debit and credit are equal and the balance is therefore at $0. All the entries contained in the general journal will feed into the general ledger. The general ledger lists the same elements as the general journal, but in the general ledger, they are also attached to their respective account. Here, more detail can be found on each entry and its impact on the corresponding chart of accounts. The accounts entries also go into the ‘trial balance’. A trial balance is quite simply a list of all the credit and debit balances from all your company’s accounts. This report is then used to check that there haven’t been any errors and that the total debited is equal to the total credited. The trial balance is usually prepared at the end of a financial period and is preliminary to the production of financial statements.
Bookkeeping for the self-employed
Those who are self-employed are required to have accounting entries in the form of a cumulative monthly register for income and expenditure, including the following supporting documents:
Sales invoices
Receipts for business expenses
Bank statements
Cheques
Deposit slips, and more generally, any documents that could account for a business expense
This evidence must be filed and stored for six years for possible account inspections.
Why good record-keeping matters
Updating your books regularly and efficiently is essential for any entrepreneur. Not only is proper bookkeeping a legal requirement that allows you to make accurate and timely payments, but it also enables us to:
Immediately detect discrepancies and disparities;
Monitor cash flow (liquidity);
Avoid making mistakes and losing documentation;
Know the performance of your business in real-time and in detail;
Ensure good business management and clear decision-making.
Handling your own bookkeeping?
Being self-employed or running a small business, using accounting software is the simplest way to do your bookkeeping and accounting by yourself at a reduced cost, saving your hard-earned cash. With an online bookkeeping and accounting programme, all you need to worry about is making transactions (billing your clients and logging your expenses), and the platform will take care of generating journal entries for you, saving you time as a result, and also reducing your margin of error.
Verifying your accounting records with bank reconciliation
Usually carried out at the end of the month, bank reconciliation is a process which is used to ensure that the company’s books tally with the bank statements. An accounting software enables you to import your bank statements and check line by line that the transactions have been correctly recorded in the general journal. Bank reconciliation is not mandatory, but it makes it possible to verify the consistency of accounts data and guarantee the reliability of the statement of accounts. For good bookkeeping, it’s essential.
Profitability: an eye-opening guide
Everything you need to know about profitability, and how understanding these terms can help your business grow and stay profitable for the long term.
Profitability
Most people understand the meaning of the word profitability, whether they are in business or not, more money coming in than going out, right? In reality, there is a lot more to profitability, this article will cover what you need to know, giving you an inside look at profitability and what it means for your small business.
If your sales revenue covers your expenses, then you’re making a profit. Without this positive cash flow, your business simply wouldn’t stay afloat. It could be said that profitability is one of, if not the primary goal of business owners, however, we believe that business owners need to look beyond the figures in black and white and understand why their business is profitable.
By analysing key metrics, business owners can learn more about the financial health of their company and whether their profitability is actually sustainable. Making calculations and comparisons can help you identify what is working well and what issues need to be addressed.
There are three main ways to determine whether your business is profitable:
Margin/profitability ratios
Break-even analysis
Return on asset assessments
First, we’ll look at everything you need to know about profitability analysis to measure your profitability accurately and help predict your future profitability.
1. Margin/profitability ratios
To run your margin ratios, aka profitability ratios, you’ll need to do three calculations based on your income statement.
Gross Profit = Net Sales – Cost of Goods Sold (COGS)
Operating Profit = Gross Profit – (Operating Costs, Including Selling and Administrative Expenses)
Net Profit = (Operating Profit + Any Other Income) – (Additional Expenses) – (Taxes)
These figures allow you to express profit financially, from a dollar perspective. Converting these figures into ratios can be useful, as generally speaking, it is easier to carry out analysis and make quick comparisons with ratios than with individual amounts. For instance, although you might have earned more money in one quarter from a dollar amount perspective, your company could have been doing better overall in a quarter where you had a higher gross profit margin. Similarly, comparing a retail company subject to seasonal rises and falls based on its best quarter, Q3, the holiday period, and its worst, Q4, January to March, wouldn’t tell you very much. It would be better to compare its Q4 figures from 2017, 2018 and 2019, for instance, or its Q4 with those of its two main competitors. So, more profit doesn’t necessarily equal financial health and stability. Margin ratios are better indicators of a company’s financial position and its potential for long-term growth than basic figures.
A. Gross profit margin ratio
As shown above, your total gross profit is your sales revenue minus your cost of goods sold. Cost of goods sold refers to how much your company paid to sell products in a given period, and its profit after deducting direct materials, direct labour, inventory and product overhead.
Gross Profit Margin Ratio = (Gross Profit/Sales) × 100
If your gross profit margin ratio is high, this means you are keeping a lot of profit in relation to the cost of your product. Ideally, this ratio should be quite stable; there shouldn’t be drastic fluctuation over the course of the year unless there are unusual industry-wide changes impacting your pricing or cost of goods sold.
B. Operating profit margin ratio
The operating profit margin looks at your current earnings. Here, you do want increases, as this would be a positive sign that your company was doing well.
Operating Profit Margin Ratio = (Operating Income/Sales) × 100
This ratio measures efficiency, and with it you can easily make comparisons between your figures and those of your competitors.
Businesses are often faced with gradual (or not so gradual!) hikes in operating costs. This can make it difficult to improve on your operating profit margin ratio. One thing you can do in this case is perform a comparative analysis of your operating expenses, which is a side-by-side comparison of the percentages from two years of data or more. This calculation can be complex, but you can use online accounting software to help you export the data. This way, you can track the biggest percentage changes over time easily and look into the reasons behind the biggest increases.
C. Net profit margin ratio
The net profit margin, aka profit margin, gives you a bird’s eye view of your profitability. Some industries are notorious for having sky-high profit margins, like pharmaceuticals for instance, while others are more conservative. Find out the benchmarks for your industry to assess your performance each year. It is important to do your research here.
Net Profit Margin Ratio = (Net Income/Sales) × 100
The net profit margin is pretty similar to the operating profit margin, except that it applies to earnings after taxes. It demonstrates how much profit can be extracted from your total sales.
2. Break-even analysis
You probably know what the term breaking-even means: you’re not making money, but you’re not losing money either, your expenses and revenue are the same. As a business owner, you should always have some funds set aside to protect your business in case of extraordinary circumstances. Be aware that you could, for instance, lose access to your materials or manufacturers, temporarily or permanently, at any time, for reasons beyond your control. In this case, you need to know how much you can afford to lose in the meantime, before you are no longer profitable and have to cease operations.
You can calculate the break-even point for individual areas of the business. For example, for sales, the formula would be:
Break-Even Point Sales = Fixed Expenses + Variable Expenses
And for units sold:
Break-Even Point for Units Sold = Fixed Expenses ÷ (Unit Sales Price – Unit Variable Expenses)
3. Return on Assets and Return on Investments
The final two measures of profitability are the Return on Assets (ROA) and Return on Investments (ROI).
ROA
ROA shows the total revenue compared to total assets used. You can use this figure to make comparisons internally, or with other companies in your industry. The higher the ROA, the more efficient things are.
Return on Assets = (Net Income Before Taxes ÷ Total Assets) × 100
ROI
ROI shows how much you’re earning in comparison to the investments you make. Measuring the profitability of your investments allows you to make sure you’re investing your money wisely.
Return on Investment = Net Profit Before Tax ÷ Net Worth
In conclusion, it could be said that it’s not what’s in the cash register at the end of the day that counts, but a company’s staying power and long-term profitability. Gain invaluable insight into your company’s profitability using our all-in-one accounting solution, and access key metrics such as profitability ratios, break-even analysis, ROA and ROI.
Now that you’ve covered all there is to know about profitability, you’re ready for part two. Check out our next post, all about solvency. What exactly is solvency? And how is it different from profitability?
An insider’s guide to solvency
Everything you need to know about solvency, and how understanding these terms can help your business grow and remain in good financial health for the long-term.
Solvency and liquidity
You’ve started your own business, and now you keep coming across all of these financial terms in your paperwork. Profitability, solvency, liquidity… It can be hard to keep up!
In this post we are going to explore everything you need to know about solvency and liquidity, and explain how understanding these terms can help your business grow and remain in good financial health for the long-term.
While solvency and liquidity are both essential for a financially healthy business, they are entirely separate concepts.
Solvency
Solvency is a company’s ability to meet their long-term debts and financial obligations, and consequently their ability to keep operating for the foreseeable future.
In order to be solvent, a company’s assets must be worth more than the sum of its debt obligations. There are various formulas that can be used to determine the solvency of a business.
Some events can put a company’s solvency at risk, such as patents expiring, changes in certain regulations that would impact profits, or being involved in a lawsuit.
Just remember, solvency is about long-term stability. Like with profitability, there are ratios that can be used to analyse a company’s solvency.
1. Interest coverage ratio
Operating income/interest expense = company's ability to pay the interest on its debt
A higher result indicates greater solvency.
2. Debt-to-assets ratio
Company debt/value of its assets = whether a company has taken on too much debt
A lower result indicates greater solvency.
3. Solvency ratio formula
Solvency ratios can vary greatly by industry, so it’s important to carry out industry benchmarking when making analysis based on the solvency ratio.
(Net after-tax business income + all non-cash expenses)/(short-term business liabilities + long-term business liabilities)
Adjusted net income/total liabilities = solvency ratio
When examining the financial health of a company, whatever their size, solvency often goes hand in hand with liquidity.
Liquidity
Liquidity is the next concept you’ll need to understand. Liquidity refers to immediately accessible funds or assets that can be easily converted into usable funds.
Stocks and bonds
Stocks and bonds are usually considered as liquid as they have a very active market with many buyers and sellers immediately available.
Cash
Cash is normally seen as the most liquid form of payment.
Solvency, liquidity and bankruptcy
A company lacking liquidity can have to enter bankruptcy even if it is solvent if it cannot convert its assets into funds in order to meet financial obligations.
Likewise, a company needs liquidity to pay off short-term obligations, but if it is insolvent it will become bankrupt.
To recap, start by remembering that liquidity is about short-term funds available, whereas solvency is about company value vs. company debt, for long-term commitments.
You will find that understanding these terms and being able to use them properly will prove itself to be invaluable, both when communicating internally with your team and engaging with external stakeholders.
Got a big meeting coming up? If you need to brush up on your profitability terminology, don’t hesitate to check out our latest post on profitability here. It contains everything you need to know on profitability, margin ratios, ROA and ROI.
In conclusion, some people would argue that it’s not what you’ve got in the bank that matters at all, but a company’s staying power for the long-term and short-term usable funds. Gain invaluable insight into your company’s solvency and liquidity using all-in-one accounting software and access key metrics such as interest coverage ratios, debt-to-assets ratios, and solvency ratios.
The best software for online business management: here’s why you should choose us
Do you want to improve your business management? Meet XXXX: the best all-in-one online business management software for the self-employed and SMEs.
Whether your business is just starting out or you’re already well-established, it’s vital to find good working tools in order to be as efficient as possible. Many people’s first instinct is to turn to their usual software, such as Word or Excel. However, very often this is not the most practical, simple or efficient way of approaching the task at hand. It would be better to use specialised management software. In fact, these software solutions can offer many advantages for the self-employed and SMEs. Specialised management software enables the self-employed and SMEs to save time and optimise their business management. Discover all the advantages of management software as well as its various features in this article.
Advantages of integrated management software
Time saved
The first advantage of management software is that it enables the business to save time. In fact, your business management (accounting, sending invoices, tracking expenses, managing customer data, etc.) is much quicker and easier if all of these tools are gathered in the same place. What’s more, you’ll save time as you will no longer have to re-enter the same data across multiple software, this time-intensive process can eat into not only the hours in your day, but your energy too.
Data security
Using online management software allows you to store company data in a secure location and receive payments with peace of mind. Some management software also allows you to upload professional documents to an online space. This means that through the software, you can then access functions which let you keep your documents protected, in a secure space you can access at any time.
Business documentation
No need to spend hours making your own cost estimate templates on Word anymore; commercial management software often has the functionality to create and send professional quotes and invoices. Additionally, you no longer need to get bogged down writing out the required legal disclaimers for these types of documents: they are already included! All you need to do is add a couple of personal touches, your logo and contact details.
Team work
When a number of people are working together on the same project, keeping on top of things can be complicated, as well as ensuring that the project is completed on time. Management software can be of great help in this instance. In fact, ERPs are extremely comprehensive software solutions which meet the majority of business management needs, including project management. This software allows for individual task allocation, monitoring project progress and sharing relevant documentation with your colleagues. All of this makes it easier to work as a team.
Company overview
Another advantage of integrated management software is that it covers a huge portion of a company’s scope of activity and as a result, allows for a strategic overview of the company. Consequently, it is very quick and easy to see at a glance if a business is in good health. What’s more, some ERPs provide even more advanced analysis. You can also access sales and cash flow analysis. This business analysis can help with your business planning and decision-making in order to steer your business in the right direction.
Features of management software
The tools on offer from the different management software vary, but generally, the following features can be found:
Accounting: The accounting function of management software helps you manage your revenue/earnings and expenses/expenditure. Additionally, monitoring your cash flow can also be very useful for managing your liquidity.
Invoices and quotes/estimates: With an online management software that includes billing features, you can send a quote or personalised invoice to a client or prospect from your mobile or computer instantly.
Project and task management: The project management tool allows you to track project development through dashboards, splitting these into tasks and putting them in order of priority and deadlines, and even attaching and associating documents.
Time management: Time is money, as all good entrepreneurs will know. Management software can help you save time. It allows you to keep a record of the time spent by you and your collaborators on each project and bill the client accurately. Finally, with a time management tool, you can analyse the hours spent on each one of your projects, for reorganising your schedule and boosting efficiency.
Client relationship management: A CRM tool directly integrated into your management software, handy, right? The CRM helps you to gather all the information on your business contacts in the same place. Some CRM software even goes as far as letting you keep in contact with your clients directly through the software, speaking and collaborating with them in a dedicated extranet space.
Stock management: This feature is useful for businesses that sell products. It allows you to manage your product inventory and easily adjust the names, quantities and prices of your items.
Business relationships: With detailed analysis of your accounting, projects and time management, you can clearly identify your strong points as well as any areas for improvement, to then adjust your business strategy as and when it’s needed.
Choosing the right management software for you
There are dozens of options to choose from; it can get confusing. However, before embarking on your quest to find the perfect management software for your business, you need to decide which features you’ll need. Then, you should take into consideration whether the nature of your business and its scope of activity will influence your choice. For example, if you often collaborate with external partners, you’ll undoubtedly need software that facilitates collaboration. Lastly, your choice will surely depend on your budget; it’s about finding the software that best meets your needs, at the best price.
Client C – Language services provider
'Great experience working with Ella, she is an excellent professional and her work is impeccable. A real pleasure to work with her.'
CPD… There’s a reason why it’s the word on everyone’s lips
CPD stands for continuing professional development.
The ITI defines CPD as ‘the systematic maintenance, improvement and broadening of knowledge and skills, and the development of personal qualities necessary for the execution of professional duties throughout your working life.’
Systematic is the keyword here. Your CPD must be deliberate and planned as part of your schedule, working towards an end goal. For successful CPD, you must take a step back and assess your efforts, evaluating how effective your CPD has been in improving your professional output.
Remember that CPD is not just for beginners – it’s about lifelong learning.
Everyone knows the old adage of 10,000 hours to become a master in your field, and yes, of course, experience matters, but experience doesn’t guarantee expertise. In a tech-driven industry like translation, anyone’s knowledge can quickly become outdated.
Take some time to reflect on how best to quantify your CPD. You may wish to seek guidance on this from a professional body. For instance, the ITI measures CPD in hours, whereas the ATA counts points. Find a system that works for you, or consider devising your own method for measuring CPD.
CPD is a way to take ownership of your career. Done correctly, you can use it to build the career you want, becoming a better linguist and increasing your employability and earning potential.
Within the translation industry, there are many kinds of CPD.
1. Language development and upkeep (both source and target languages);
2. Industry-specific specialist knowledge;
3. Business and marketing skills;
4. Computer, software and internet skills;
5. Personal growth and development.
You aren’t necessarily required to pay for CPD. Conferences, workshops and formal courses are great, but you don’t have to start there. CPD can be entirely self-guided and range from writing essays or articles, speaking at events, mentoring colleagues, or taking on an advisory role in a committee. Even if you’re just hearing about CPD for the first time, you’ve probably been inadvertently doing some of these things without realising!
If you are thinking of attending an event this year, you might be interested in our latest post, Top 5 industry events for translators in XXXX.
A final piece of advice? Try not to see expense, the cost of CPD itself and any loss of potential earnings, as a barrier against carrying out CPD. CPD can be accessible to anyone, whatever their budget, timeframe, location or specialism.
Good luck!
Client D – Digital currencies
How crypto empowers women to break the mould
March is an important time for women. Not only is it International Women's Day on March 8, but since 1987 March has been celebrated as Women’s History Month. This celebration originated in the US, before spreading to the UK, Australia and around the world. March, therefore, seemed the ideal time to begin our latest series, Women in Crypto. Women in Crypto is a series of articles focusing on female empowerment and women’s achievements and success in crypto investing. This article marks the first in our series, so continue reading to find out more about how crypto empowers women to break the mould.
We’ve come a long way since 1987, yet crypto has still fallen into many of the same patterns experienced by the tech and finance industries, right before our eyes. This fledgling industry has shown itself to be both very male-dominated and male-centric. So what can we do about it? We want to highlight how crypto investing can make a difference in women’s lives.
Cryptocurrencies were founded on the concept of accessibility. Your gender, the colour of your skin, the point was that it didn’t matter, crypto was an inclusive space that anyone could enter and be treated equally. So far, so good. In recent years, cryptocurrencies have been reaching younger investors as well as those in developing countries. Given that all you need to access these platforms is a mobile phone, anyone and everyone has been able to join the world of digital finance.
Historically, there have always been fewer women than men managing their finances and accessing financial services worldwide. Similarly, there have always been fewer women using the internet than men. So why is this, and how can we change things? In many developing countries, women are still not permitted to seek employment outside of their family and domestic life. Those who do pursue employment may face punishment, going unpaid, or having their earnings controlled by male relatives. By being paid with digital currencies, women can retain sole rights and access to their earnings. A study conducted by the World Bank showed that 40% of women worldwide do not possess a bank account. Through crypto, women everywhere will be able to bypass these gatekeepers in pursuit of financial liberation and empowerment.
Like most things, it starts with education, and this is why we need to speak up. Women need to see examples of women succeeding in crypto to break down these barriers. In crypto, even the terminology can be quite intimidating. There is still a steep learning curve to be overcome. Many women still don’t understand the first thing about this sector, and are missing opportunities for the transfer and accumulation of wealth. This is why education is a key part of our platform, providing our users with the resources they need to succeed.
Women remain a vastly untapped workforce. Giving women the tools they need to manage their own finances is just the first step in what can be a powerful journey towards financial empowerment. Data has shown that there is a significant gender gap across other financial products such as stocks and bonds. Women still struggle to access capital in the same ways as their male counterparts. With cryptocurrencies, women can access microloans in minutes via the internet or their mobile phone. This is leading to a surge in female entrepreneurship and female-owned businesses all over the world.
Remittance is another key aspect in the finances of women today. Remittance refers to the process of sending earnings back to family members or a country of origin. The remittance industry is thought to generate over $400 billion annually in the US alone, with most funds directed to the Philippines and Mexico. These transfers can incur delays as well as lofty charges and often face legal complications. With blockchain tech, these transfers would face fewer charges and be more secure. Women are often on the receiving end of these remittances, but are also just as likely to be the ones sending them to their dependents.
So you see, crypto can make a difference to the lives of women everywhere, giving them the power to manage their own money, support their families and start their own enterprises. By removing some of the barriers to wealth and bypassing these gatekeepers, the possibilities for women everywhere truly become endless.
The inception of IXFI: from an inspired idea to your friendly crypto exchange
In this article, we want to shed some light on IXFI’s history and our journey from an inspired idea to the crypto exchange it is today. IXFI’s ambitious roadmap has seen us go from strength to strength in little over two years. The team behind IXFI set out to bridge the gap between the existing crypto community and the rest of the world. Our vision has always been to bring crypto into the everyday lives of ordinary people. With years of first-hand experience navigating the industry, our founding team were ready to take matters into their own hands and create a new kind of crypto exchange, one that was accessible to all. Inspired by their own experiences with crypto, the team behind IXFI wanted to create an all-in-one platform that was both intelligent and user-friendly. This streamlined design serves to attract both beginners and more experienced users. The friendly and informative environment is ideal for helping beginners master the basics as well as allowing seasoned traders to hone their skills, accessing new tools and educational resources.
2020
IXFI’s journey began in 2020, establishing CHAINSOLUTIONS OU and choosing CARDEX as a name for the platform before acquiring the domain CARDEX.io. This name reflected their vision of creating an exchange that not only mirrored some of the features offered by conventional banks, such as cards and loans, but went beyond them. The team then proceeded with the design, architecture and planning of the website platform before partnering with leading development teams to begin constructing the early stages of the platform. BitGo was selected for providing wallets and custodian services, as well as Ondato as KYC and AML partner. AWS Cloud was entrusted with providing continuous, scalable and reliable infrastructure. Once the various partners had been selected for CARDEX, IXFI entered into a partnership with Cryptocoin.Pro for buying and selling crypto with fiat. Next, native iOS and Android applications were added to the development plan.
2021
2021 brought some changes in terms of branding, rebranding CARDEX as IXFI and acquiring the new domain name of IXFI.com. The company entered a new partnership with Altalix for buying and selling crypto with fiat, as well as partnering with leading liquidity providers. The company then reached a new milestone of 30 in-house IXFI team members. The team went on to initiate partnerships for their Crypto CARD program before launching the IXFI exchange in December. They hit a new milestone of 100 in-house team members on top of additional development partners. Offices were set up in Estonia, Dubai, Romania and India. The design of the entire platform was now ready to be revised into a more user-friendly format, with a focus on system optimisation and improving scalability.
2022
2022 has been IXFI’s most packed and exciting year yet, with an ambitious and challenging roster set for the first quarter of the year. Crypto buying and selling partnerships were integrated with Simplex Transak, score and leader boards for affiliate and referral programs were introduced and native Android and iOS applications are set for launch. We entered into a new partnership with Veriff Jumio Chainalysis, as well as partnering with CaseControl for PCI DSS compliance and reporting. IXFI opened its new office in Switzerland and began offering multi-language and multi-currency support. The IXFI Earn Program was launched for Individual participation for the best APYs. This brings us to today, the end of the first quarter of 2022 and things show no sign of slowing down here at IXFI.
Since launching at the end of 2021, IXFI is already making a name for itself. IXFI fills a gap in the market, somewhere between conventional banks and the more versatile crypto exchanges. Now that IXFI is here to bridge that gap, the possibilities are truly endless. Several features are being rolled out this year, with more scheduled for 2023. From IXFI Tokens and DeFi Connect (an easier method of paying with the IXFI card), to an NFT marketplace and Fast Funds (send or receive funds directly between users), as well as Index and Copy Trading. No matter what the future holds, one thing's for sure: IXFI is here to stay. Find out what IXFI can do for you.
Client E – Lifestyle
The children's chair – choose your style: classic, or with a playful touch?
Searching for a toddler chair for your little one? Available now for fast delivery.
Now that your mini-me can sit up unaided (well, almost!), perhaps it’s time to think about getting them a kids’ chair of their own. How they’ll love sitting up at their own little table to eat or play with some friends, just like the grown-ups! We understand how important this new stage of life is. That’s why we recommend our collection of children’s chairs – made from sustainable materials, our chairs are as sturdy as they are fun!
The children’s chair: a new stage
Time goes by so quickly… Just a few months ago, your baby never left your arms, sleeping peacefully in their tiny crib… And now look at them go, exploring the world more and more every day, walking, talking (even if you’re the only one who understands that adorable babbling!), and already the time has come to get them a big chair! A new and important stage for you to cherish. There are so many different types of children’s chairs on the market these days that it’s normal to want to shop around. Please note that our handmade children’s bunny chairs come as part of a set made up of two chairs and one table. Only our stools are sold individually.
Table, chair, or both?
The answer is both! To be able to do their favourite activities (painting, cutting and sticking, colouring, puzzles… and the rest!), your child needs to be sitting comfortably at their kids’ desk chair. Having a specially designed children’s table with a seat at the correct height is therefore the ideal combination for your child. What’s more, your child will love moving their table and chair around the room as they please, from their room to the living room and back… A game in itself! You’ll be amazed by how many uses your child finds for their children’s desk chair.
> Delivery by appointment. Order your children’s table today at XXXX.
The children’s chair – choose your style: classic, or with a playful touch?
There are hundreds of kids’ chairs out there to choose from. Without a doubt, you should prioritise those made from wood, as children’s wooden chairs are the safest and sturdiest option for your child. Designers no longer stick to offering classically designed children’s chairs: now you can find children’s chairs in all sorts of whimsical designs. The choice is yours!
Your little one will love sitting up beside you on their new toddler chair. Why don’t you create a reading corner, setting up their new chair next to one of our bookcases?
Opt for an animal-shaped children’s chair, one with bright colours, or choose a traditional, classic design; the choice is yours!
> Fast delivery on all our children’s nightlights
> Discover our collection of children’s bedroom sets!
Bunk beds – put the fun back into bedtime
Many children dream of having bunk beds. Perfect for twins or siblings who are close in age, a bunk bed puts the fun back into bedtime. Even if your little one is an only child, a bunk bed can still be a great choice, meaning there is a spare kids’ single bed when the time comes for having sleepovers. Choosing a bunk bed over a kids' single bed is also a great way to introduce clever storage options. So when it comes to purchasing a new bed for your little one, think carefully before choosing between a kids' single bed and a bunk bed.
Some people might think that bunk beds for kids are far more costly and complicated to build than a regular kids' single bed. In reality, bunk beds for kids can be an easy-to-build and cost-effective choice, offering real longevity when compared with a kids' single bed.
Besides creating an extra place to sleep for a younger sibling or overnight guest, kids' bunk beds free up space in the rest of the room, allowing you to create a spacious new layout. Space-saving and versatile, it’s no wonder bunk beds are a popular choice among parents and children of all ages.
With so many options out there to choose from, allow us to outline two of the main space-saving bunk beds for kids available on our website:
A kids' bed with desk
A bunk bed with desk and wardrobe
Kids’ bed with desk
A kids’ bed with a desk is a great option for a child, no matter what their age. Younger children will enjoy getting creative with some arts and crafts, whilst older children can use the desk for their hobbies and school work. Even if you have the space for a separate desk in your child's bedroom or elsewhere in the family home, you might still want to opt for a kids' bed with a desk in order to give them their own space. Your child will love having their own dedicated workspace in their new kids’ bed with a desk. It’s important to involve your child when it comes to designing their bedroom. Your child will enjoy decorating their new kids’ bed with a desk and making it their own.
View our complete range to find the perfect finishing touches.
Bunk bed with desk and wardrobe
For even more storage, you might want to consider a kids’ bunk bed with desk and wardrobe combination. A bunk bed with desk and wardrobe allows you to really maximise the space, leaving plenty of room to play!
Detachable bunk beds
The best thing about many of these bunk beds for kids is that they are designed so that they can easily be separated into kids’ single beds when needed. Often referred to as detachable bunk beds, these clever bunk beds for kids have been crafted to give you the best of both worlds. This means that when the time comes for your children to have their own rooms or perhaps an unexpected house move, you can easily separate your bunk beds into kids’ single beds.
HOW DO I KNOW WHEN MY CHILD IS READY FOR A KIDS’ BUNK BED?
Some children will ask for a bunk bed after seeing them at a friend’s house, on TV or in a book. Bunk beds for kids can also make a great birthday or Christmas present. The arrival of a new baby or even a new home can be the perfect time to invest in bunk beds for kids.
Bunk beds for kids are recommended for ages four and up. Younger children are better off sleeping on the lower bunk, keeping the top bunk for older children. Children under six are not recommended to sleep in the top bunk.
If you do have younger children sleeping in bunk beds, you might want to consider a bunk bed safety rail. A bunk bed safety rail attaches to the side of your bunk bed to help protect younger children who are new to sleeping in a kids’ single bed or bunk bed.
HOW CAN I BE SURE MY CHILD WILL BE SAFE?
Our range of bunk beds for kids is designed with premium materials and in accordance with the highest safety standards. Beds produced in accordance with these standards will usually bear a quality mark. Check for the quality mark to be sure your children’s beds have been built according to the highest safety standards. These safety standards mean the bed will be solidly built and have no sharp edges. Steps and ladders must be firmly attached, sturdy and have good grip.
HOW HIGH SHOULD MY KIDS' BUNK BED BE?
Bunk beds for kids come in a range of different heights, often referred to as low, mid and high sleeper beds. While there are no black-and-white rules about which height of bed is best for which age range, there are safety guidelines about ceiling height and distance from the mattress. It’s recommended to have a distance of at least two feet between the top of the mattress and the ceiling. This is so that children are able to sit up comfortably and avoid any bumps.
Discover the ideal bunk bed for your little one today.