7 tips to help you buy diamond jewelry from Dubai

Sharon Anderson
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7 tips to help you buy diamond jewelry from Dubai

When it comes to buying diamond jewelry, Dubai is a great place to start. The city is home to some of the world’s most reputable jewelers, and you can be sure that the quality of diamonds on offer is excellent. However, it can be hard to know where to start with such a wide range of jewelers to choose from. For this reason, you need an expert guide that will help narrow down your options and make the process easier for you. Fortunately, we’re here with some top tips on how to buy diamond jewelry from Dubai!

1. Stick to well-known, reputable jewelers

Finding a reputable jewelry seller in Dubai is not difficult. You can easily find the outlets of all big brands. However, some of these brands will charge a premium. You need to work with diamond jewelry specialists like Fergus James that can create custom rings or jewelry for a budget that works for you. 

These tips will ensure you find the perfect jeweler with whom to make your purchase.

  • Make sure they are authorized by the JWDA (Joint Wages Decree Agreement), the only organization that monitors gold and diamond exports in Dubai. All legitimate businesses can be found on their website, or licensed vendors should be happy to show you documentation at any time upon request.
  • Make sure they offer a warranty or certificate of authenticity. Any reputable dealer should provide this without hesitation, and it can be crucial if purchasing an expensive piece.
  • Ask around! Get recommendations from friends, family members, or even your jeweler. Chances are, if someone you know has had a positive experience with a particular jeweler, you will too.

2. Decide the locations

Gold Souk

Gold Souk is Dubai’s largest shopping mall; it’s located in the heart of Deira. The mall has an essential blend of modern retail shops, restaurants, and cafes with traditional souks where traders sell items. This mall has hundreds of shops for jewelry, watches, electronics, and various store discounts, making Gold Souk an attractive place for visitors.

What is unique about the Gold Souk?

The Gold Souk offers exclusive collections at discount rates on branded souvenirs that can be customized or made into collectibles with various levels of gold purity ranging from 24 carats to 999 carats. These products include watches, cufflinks, pendants, and earrings. The mall also has a wide range of traditional gold jewelry and diamonds, and precious stones at competitive prices.

The Dubai Mall

The Dubai Mall is one of the world’s largest and most popular shopping destinations, and it’s home to some of the finest jewelry stores in the world. If you’re looking to buy diamond jewelry, there’s no better place than The Dubai Mall. With a vast selection of rings, necklaces, earrings, and more on offer, you’re sure to find something that catches your eye. Plus, with prices starting at just a few hundred dollars, there’s something for everyone.

Deira City Center

Deira City Center is a shopper’s paradise where you can buy diamond jewelry of every description. The mall is home to over 200 stores selling everything from clothes and cosmetics to furniture and appliances. But it’s the jewelry section that comes into its own, with scores of shops specializing in gold and diamond jewelry. Whether you’re looking for a delicate piece of 18-karat gold for a loved one or to splash out on diamonds for yourself, you’ll find plenty of choice at Deira City Center.

Stores selling diamond jewelry are spread throughout the mall, and it’s easy to pick up watches from leading brands like Rolex and Tag Heuer, as well as other accessories such as sunglasses and handbags. There’s so much choice that it can be difficult to decide where to begin.

3. Know the basics of identifying a diamond

When looking to buy diamond jewelry, it is important to identify the real thing from a fake. Here are some tips to help you spot a genuine diamond:

Clarity

Look at the clarity. A real diamond will have very few blemishes if any.

Cut

Check the cut. The cut of a diamond is what gives it its sparkle. A well-cut diamond will reflect light in all directions.

Color

Color is also an important factor to consider when buying diamond jewelry. A real diamond will be a clear white, while a fake may have a yellow or green tinge.

Carat

The carat is the unit of measurement for diamonds and is determined by the weight of the diamond. One carat is equal to 0.2 grams. When shopping for diamond jewelry, it is important to compare the carat weight to the size of the diamond. A larger diamond will not necessarily have a higher carat weight.

Weight

Compare the weight of the diamond to its size. A real diamond will be heavier than its size would suggest.

4. Compare prices

Compare prices from different jewelers before making the purchase. You need to ensure that you are paying for the product and not paying a premium price just because you are buying from a big brand.

5. Don’t be afraid to negotiate

When it comes to buying diamond jewelry, don’t be afraid to bargain on price before purchasing. Many sellers in Dubai will be willing to negotiate, so don’t be shy about asking for a better deal. However, make sure you know the worth of what you’re trying to buy before you begin bargaining; you don’t want to overpay for something that’s not worth it.

6. Always inspect jewelry before buying it. 

If you buy from a small store or unknown retailer, you must inspect the piece before purchasing because diamonds can be replaced with cheaper stones, or the jewelry may not be made of real gold or platinum.

By scrutinizing the jewelry, you can ensure that you are getting what you expect. Look for signs of wear and tear, and make sure that all of the diamonds are present and accounted for. You should also check the quality of the craftsmanship to ensure that it is up to par.

If you are not familiar with diamond grading terminology, take a trusted friend along who can help you out. They will know how to look for things like fluorescence and inclusions.

7. Consider buying jewelry insurance

When you buy diamond jewelry, you may want to consider buying insurance for it as well. If something happens to your jewelry, such as stolen or damaged, insurance can help you replace it. Make sure to research different insurers and find one that will provide the best coverage for your needs. You can usually find jewelry insurance policies that cover loss, damage, and even theft.

It’s important to read the fine print of any insurance policy before you buy it, so you know what is and isn’t covered. You may also want to consider adding a rider to your policy for extra coverage. It can help protect your diamond jewelry in the event of a catastrophe.

Final thoughts

When shopping for diamond jewelry, it is important to consider various factors, including the cut, color, carat, weight, and price. You should also be aware of your rights as a consumer when negotiating prices and inspecting jewelry before purchasing. 

Why The Pandemic Is The Biggest Hurdle In Addiction Recovery

Steve
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Why The Pandemic Is The Biggest Hurdle In Addiction Recovery

In a world where addiction rates continue to rise, addiction recovery is a quest in itself. It means that substance abusers worldwide are pitted against a deluge of mental and physical obstacles to get clean and sober again.

Unfortunately, their journey towards sobriety does not end once they’ve conquered their addictions; instead, it’s just a step towards a new, fulfilling life of sobriety.

However, the biggest hurdle is not what patients have to deal with the spur of the moment they stop using drugs or alcohol. It’s likely something altogether more unexpected—a pandemic that has swept across most of the planet and rendered normalcy nonexistent. 

In these conditions, addiction recovery is all but a dilemma.

  • The Pandemic

The COVID-19 pandemic, also known as the Coronavirus, is an ongoing global pandemic that has hit the world like a wrecking ball. The pandemic has completely changed life for many people worldwide. 

Residents are quarantined and isolated in their homes, towns, and cities. People can move around within their residence, but everyone is advised not to leave their homes due to possible exposure.

The Coronavirus disease is caused by usually spreading through droplets, released into the air when a sick person coughs or sneezes. The virus is also transmitted by touching anything contaminated with these droplets and can remain infectious after leaving the infected host for 24 hours.

The virus reduced life expectancy rates significantly, affecting all people across all age groups and social classes equally. Everyone is at risk of contracting the disease. 

The best way to prevent this is by avoiding physical contact with other people as much as possible, but this is difficult because seeing others in public is unavoidable.

  • The Pandemic’s Effects On Addiction Recovery

This pandemic has been the biggest hurdle for people trying to recover from addiction, especially when they’ve no choice but to interact with other people regularly.

It results in many relapses since patients cannot cope with their new reality and reach out for alcohol or drugs for comfort.

Usually, substance abusers would start rehab immediately after expert advice and diagnosis that they have a problem with addiction. However, this pandemic has rendered regular rehab services defunct. Some facilities are still open but only house the workers and their current patients. Outside patients still are advised to seek treatment even if these facilities are no longer operational. Still, it’s challenging to do so since logistics are almost nonexistent in the current pandemic conditions. 

To find out more about addiction recovery in the face of these pandemic conditions, contact companies or organizations offering services for drug rehabs.

It means that their recovery is put on hold indefinitely for addiction patients. They have to cope with the quarantine without accessing the support of family members or friends, or even medical professionals.

Even for those who find a way, other hurdles come with this transformation. Here are some of them:

1. The Effects on Mental Health

First of all, there’s psychological stress brought about by the pandemic.

Without complete information regarding the spread of the virus and its effects on people, patients, and their families can only do so much to keep each other calm and collected.

Without rehab services, many recovery patients find themselves without a support system. Friends and family members who used to be around them are also becoming scarce. 

It only serves to increment the fear, uncertainty, and anxiety that patients are already experiencing, which can trigger mood disorders like depression or worse.

2. The Pandemic Isn’t Just About Quarantine

The effects of a pandemic on mental health are not limited to psychological stress alone. These factors can cause permanent brain damage, which manifests in mood disorders.

The pandemic is not just about being quarantined and coping with the virus without help from others. It’s also a public health crisis, which means that other mental health issues might become prevalent among people who have been affected by this pandemic.

For instance, some people who have no history of mental illness find themselves developing anxiety disorders, panic attacks, or depression after the pandemic hit. 

It only makes it harder for substance abusers to recover since they have to deal with the symptoms.

3. A Pandora’s Box Of Social Dilemmas

Another hurdle that recovery patients face after the pandemic hit is social dilemmas. According to many experts in addiction recovery services, this pandemic has left people feeling more alone than ever before.

Some people who aren’t recovering addicts find themselves feeling lonely because they can no longer communicate with friends or family members. Their loved ones are either in isolation, too busy coping with the pandemic, or worse, have disappeared after contracting the virus themselves.

As for addiction patients, their already tenuous relationships moreover are questioned. The absentees and the people who had to be quarantined and isolated start focusing on loved ones after it’s too late.

It leaves drug abusers and alcoholics at a loss on where to focus, which makes addiction recovery even more challenging than before.

4. Social Isolation Among Recovery Patients

There’s a greater chance for social isolation to occur due to the pandemic, even if patients can interact with other people. For instance, family members are busy with their problems, so they have no time to help loved ones recover. 

The pandemic’s effects make it impossible for family members to offer the support that recovery patients need while overcoming their condition.

The absence of communication between family members who can’t provide enough moral support leads to an increase in social isolation. 

It results in recovery patients having to rely on friends or therapy services for their recovery instead of family members.

5. Treatment Is Almost Impossible To Access

Aside from social isolation, the pandemic has made treatment almost impossible to access. According to many rehab service providers, the pandemic has made it hard, if not impossible, to provide authentic addiction recovery services.

The pandemic has now reached its spire, and there’s no end in sight. 

If anything, the pandemic is set in place to get worse with time. It means that people who are used to accessing addiction recovery support services will have to wait even longer before finally having access to these services again.

6. Fragmented And Insufficient Government Support

The pandemic is also a problem regarding government support for addiction recovery services. For one thing, there isn’t enough funding or facilities to help every patient who desperately needs rehab services to get better and reintegrate back into society.

Until the pandemic is over, it’s hard to say if or when addiction recovery services will be able to catch up with the pileup. They are already working at their capacity to deal with the present situation, so more patients might have to wait until things get better.

According to experts in this industry, this is a social problem as it is a mental health crisis. The reintegration of recovering abusers into the community is a challenge our society has yet to overcome, and the pandemic might make this struggle even harder than before.

  • Alternatives For Recovery Patients During Pandemic

It’s easy to see that this pandemic has made it more difficult for people who suffer from addiction to recover, but options are still available. These include:

  • Residential Rehabilitation Centers

One of the best alternatives to addiction recovery services is residential rehabilitation centers. Many people recovering from addiction opts for this facility instead because of its therapeutic environment.

Aside from having 24/7 personal care, patients can also focus on their treatment while using the same facility’s amenities and support services. It helps them focus more on their recovery rather than worrying about the other aspects of living. 

At the same time, residential rehab centers also give direct support to family members who can’t offer enough moral support at home. This way, patients don’t have to worry about their loved ones struggling on their own if they go away for some time.

  • Outpatient Rehabilitation Centers

Another alternative to addiction recovery services is outpatient rehabilitation centers. This type of facility is more economical and offers many of the same benefits as residential rehab centers or clinics. It means that addiction patients can get outpatient care without leaving their home area.

Of course, outpatient facilities don’t offer all the amenities that residential treatment centers provide. However, there’s still something about the fact  recovering addicts can continue with their lives without sacrificing too much of their time and resources.

This type of treatment allows people to handle all their responsibilities at home, perfect for family members who need help with things around the house or children who need care while their parents are away.

  • Online Addiction Recovery Services

Another alternative for support is online addiction recovery services. People can now go online to receive treatment or follow through with their therapy sessions with the Internet. It means that anyone who wants help with their condition can easily connect with people in the same situation without leaving home.

On top of that, people who would like to get better without going into rehab can easily connect with support groups and other people in recovery through online communities. It’s a popular choice among those who don’t have any severe mental health conditions or issues stopping them from moving towards recovery. 

  • Drug And Alcohol Hotlines

Last but not least, there’s also the option of calling drug and alcohol hotlines for help. 

All people have to do is contact these lines whenever they feel like they can’t get through their day-to-day lives without the use of substances.

When these people call these hotlines, they can receive support and guidance to help them in their struggles. They may also be able to get tips on how to properly manage their condition even when they’re not receiving any therapy or treatment at all.

Final Thoughts

As long as people are committed to getting better no matter what, nothing stops them from finally becoming healthy again. It may take time to recover if someone has been using substances heavily for quite some time, but it’s possible if they receive the right kind of support at home and in rehab.

Ketamine Therapy: One of the Top Options for Sufferers of PTSD

Sharon Anderson
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Ketamine Therapy: One of the Top Options for Sufferers of PTSD

Many people are unaware of just how common post-traumatic stress disorder, or PTSD, is in the United State. In fact, according to the National Institute of Mental Health, around 3.6 percent of adults in the country suffer from PTSD to some degree, and around 36 percent of these people suffer from it to a level that becomes debilitating and seriously problematic. When you suffer from PTSD, it can have a negative impact on your health, your quality of life, your relationships, work and home life, and more.

In order to try and live with PTSD, it is important for sufferers to find the right solution and treatment to help them with their symptoms. Many people have started to look into PTSD and ketamine therapy, as this type of treatment has been growing in popularity because of its effectiveness in helping with the common symptoms of the condition. In fact, for many people, this type of treatment has become one of the top options, and in this article, we will find out how it helps.

The Benefits of Ketamine Therapy for PTSD

There are many reasons why ketamine therapy is becoming increasingly popular as a top option for the treatment of PTSD. It can help in many ways, and it offers a range of benefits some of which include:

Helping with Various Symptoms

One of the key benefits of this type of therapy is that it can help with a wide range of symptoms relating to PTSD. When you suffer from this condition, there are many serious symptoms that you may experience. This includes thoughts of self-harm, aggressive behaviors, emotional detachment, sleep problems and fatigue, hypervigilance, and more. Ketamine therapy can help with all of these symptoms, and this can make a big positive difference in the lives of those that suffer from PTSD.

Easy to Administer

Another thing to keep in mind is that ketamine is easy to administer, and this means that you can benefit from a hassle-free solution. You can take this treatment orally or nasally, and this makes it easier for you to take it with speed and convenience from the comfort of your own home. This means that you can work through your trauma with the help of ketamine in an environment where you feel safe and comfortable – your own home. This can make a big difference to you when working your way through your issues.

Helping Where Other Treatments Have Failed

It is also worth noting that many people have benefitted from this type of treatment, and this includes those who have tried other PTSD treatments that have failed. This suggests that many who have been resistant to treatments in the past may find that ketamine therapy actually works for them, so it can make a big difference to them.

If you think you may be a good candidate for ketamine therapy, it is important to speak to your doctor or healthcare professional. You can then find specialist providers that can offer access to ketamine treatment.

Jewish Federation Announces $5 Million Campaign to Strengthen Charlotte Jewish Community

Charlotte Stories
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Jewish Federation Announces $5 Million Campaign to Strengthen Charlotte Jewish Community

Following the recent hostage crisis at a synagogue in Colleyville, Texas, the Jewish Federation of Greater Charlotte held its annual campaign kickoff event with a heightened sense of urgency and unity.

On January 19th, members of the Charlotte Jewish community gathered in-person and virtually at Temple Israel as Federation announced its milestone goal of raising $5,000,000 in support of the Charlotte Jewish community.

“The Jewish Federation of Greater Charlotte is more determined than ever to raise funds to strengthen and safeguard the Jewish community from the growing threats of antisemitism and anti-Israel hatred that we face locally and globally,” said Sue Worrel, CEO of the Jewish Federation of Greater Charlotte.

The $5 million Federation plans to raise in 2022 will support the necessary funding of the more than 70 unique beneficiary agencies, programs and initiatives for the Charlotte Jewish community. Beyond fundraising, the Federation continues to play a central role in convening the Charlotte Jewish community, especially in times of crisis such as the Colleyville hostage situation.”

“It is a challenging time for all of us,” said Main Event co-chair Ana Bonnheim. “But as Jews, we are used to making it through tough times. The sense of cohesion in the Charlotte Jewish community has never been stronger. Federation is truly the engine behind all of what makes our lives as Jews in Charlotte so enriching.”

During the Main Event, co-chairs Ana Bonnheim and Lindsay Muns shared impact stories about how Federation’s allocations make a difference in the Charlotte community. The following local leaders from four of Federation’s beneficiary agencies in Charlotte also described how Federation allocations directly benefit their work: Brook Amo, Executive Director of Charlotte Jewish Preschool; Jen Rosen, Chief Advancement Officer of Moishe House; Bentzion Groner, Director of ZABS Place; and Rabbi Judy Schindler, Sklut professor of Jewish studies and Director of the Stan Greenspon Holocaust and Social Justice Education Center.

The Main Event’s keynote speaker was Nancy Spielberg, businesswoman, philanthropist, and filmmaker. Spielberg told stories of her experience growing up in a small Jewish community and how her connection to Judaism and Israel inspired the stories she tells in her films and documentaries.

Charlotte Is About To See Its 3rd Weekend Of Snowfall For The First Time In History

Charlotte Stories
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Charlotte Is About To See Its 3rd Weekend Of Snowfall For The First Time In History

The Charlotte region is about to experience another rare weekend winter wonderland, and if we see snowfall as predicted, it will be the first time in recorded history that the Queen City experiences 3 straight weekends of snowfall.

Back in 1960 (the coldest March North Carolina has ever experienced), Charlotte saw snowfall on the same day 3 weeks in a row, but that snow fell in the middle of the week, on 3 consecutive Wednesdays.

The National Weather Service has just issued the following Winter Weather Advisory for the Charlotte region:

...WINTER WEATHER ADVISORY IN EFFECT FROM 7 PM THIS EVENING TO
7 AM EST SATURDAY...

* WHAT...Snow expected. Total snow accumulations of up to two
  inches.

* WHERE...A portion of the Carolina Piedmont, including much of
  the Charlotte metropolitan area.

* WHEN...From 7 PM this evening to 7 AM EST Saturday.

* IMPACTS...Plan on slippery road conditions.

* ADDITIONAL DETAILS...Precipitation is most likely to be rain
  through the evening commute, but a little bit of snow and sleet
  could mix in. Accumulating snow is not expected to occur until
  later in the evening.

According to Weather Underground, Charlotte will begin to see her first flakes fall at around 10pm this evening, and they will continue to fall until about 1am on Saturday morning, with expected accumulations of between 1-2 inches.

Charlotte will also experience exceptionally cold wind chills in the teens on Saturday morning.

If you moved here from Ohio or New York (like myself), you may be rolling your eyes, but if you’re from Florida or California, you might need to make some changes to prepare for the coming winter storm.

To prepare your car, top off all your fluids, especially your oil, power steering fluid, and antifreeze. You’ll also want to check your tires and make sure your air pressure is over 32 PSI.

To prepare your home, make sure to drain all fountains and exterior water fixtures. Always let at least one of your faucets drip to avoid freezing pipes. Consider buying a humidifier if you’re sensitive to dry air. If you have an older home with older windows, investing in some shrink film insulation will save you a ton on your heating bill.

To prepare yourself, buy some thermal gloves, a warm hat, and a winter jacket. If you’re going to spend any length of time outside, you may even want to consider buying an electric heating jacket.

If you have a pet – make sure to read our article about how to keep your furry friend warm!

David Hoffman Realty Partners With Samaritan’s Feet To Help 10,000 Kids Across The Carolinas

Charlotte Stories
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David Hoffman Realty Partners With Samaritan’s Feet To Help 10,000 Kids Across The Carolinas

David Hoffman Realty has committed to partnering with Samaritan’s Feet through a $250,000 donation which will help serve 10,000 children across North Carolina and South Carolina.

Through this partnership, David Hoffman Realty will make several events possible: 

  • 30 Shoe Lockers at Title 1 schools in North Carolina and South Carolina, serving approximately 6,000 children. Kept on-site at a school, a Shoe Locker is a supply of athletic shoes which are immediately available when a student has improperly fitting or worn shoes. Children in need can receive a new pair of athletic shoes quickly, allowing them to get right back into the classroom and right back onto the playground. 
  • Four “Cares” shoe distribution events in North Carolina and South Carolina, serving approximately 4,000 people. “Cares” shoe distributions events have the goal of meeting the needs of a local community through the gift of new shoes, while activating leaders throughout that community to serve those in need.

“David Hoffman Realty is honored to partner with my dear friends, Manny and Tracie Ohonme, and the wonderful team at Samaritan’s Feet to ensure that all 10,000 boys and girls in Charlotte in need of new shoes are taken care of,” said David Hoffman, President of David Hoffman Realty.

These Shoe Lockers and distribution events are currently being planned and will take place in 2022.

Charlotte Rent Prices Up 0.2% This Month – February 2022 Rental Report

Charlotte Stories
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Charlotte Rent Prices Up 0.2% This Month – February 2022 Rental Report
The team at Apartment List has just published Charlotte’s February Rent Report, complete with pricing data through January 2022.
Some of the highlights for the Queen City include:
  • In Charlotte, the 2022 rental season kicked off with a 0.2% increase in January, compared to a 0.2% increase nationally.
  • Annual rent growth in Charlotte now stands at 19.6% after a year in which the pandemic drove prices up rapidly. In other parts of the country, annual rent growth exceeds 25%.
  • Median rents in Charlotte now stand at $1,272 for a one-bedroom apartment and $1,421 for a two-bedroom.

For a complete look at national trends, you can read the national report here.

Two Historic North Carolina Landmarks Opening for Public Viewing Next Month

Charlotte Stories
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Two Historic North Carolina Landmarks Opening for Public Viewing Next Month
Located one-quarter mile apart on Sauls Road in southern Wake County, two North Carolina landmarks will open simultaneously on two weekends for public tours.
Panther Branch Rosenwald School, a Wake County Historic Landmark on the National Register of Historic Places, and Juniper Level Botanic Garden, a gift to North Carolina State University, will open Feb. 25-27 and Mar. 4-6 for self-guided tours. There is no admission charge at either location – hours are Fridays and Saturdays from 8 AM until 5 PM and Sundays 1-5 PM.
Constructed in the Colonial Style in 1926 and recently restored by Juniper Level Missionary Baptist Church, Panther Branch Rosenwald School was one of over 5,000 schools built in the southern United States by the Rosenwald School Project. This massive undertaking was a joint initiative by Julius Rosenwald, President and Chairman of Sears, Roebuck and Company, and Booker T. Washington, the first leader of Tuskegee Institute.
Following the Civil War and into the mid-20th century, school systems in the South continued to be segregated and underfunded for African American children. By 1928, one in five African American schools in the South was a Rosenwald School, educating an estimated one-third of the teachers and children. The Rosenwald Project is one of the most significant initiatives to improve education for African American children in the 20th century.

Duck Donuts Launching New Campaign To Fight Homelessness in Charlotte

Charlotte Stories
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Duck Donuts Launching New Campaign To Fight Homelessness in Charlotte

Known for its warm, made-to-order doughnuts, Duck Donuts’s latest custom treat is satisfying your sweet tooth, and supporting children and families experiencing homelessness in the Queen City. Customers can visit Mecklenburg County locations – Huntersville or Dilworth – to buy special purple-icing doughnuts through the end of January, with a portion of the sales benefiting Thompson Child & Family Focus (Thompson).

“It is important for us to get to know our neighbors and become a resource by supporting the causes that they benefit from,” said André Walters, franchise co-owner of the participating Duck Donuts shops. “In partnering with Thompson, we get the opportunity to help ensure children are able to thrive while raising awareness for their cause.”

The company’s Quack Gives Back program partners with community organizations to raise awareness and funds for their causes. Thompson is a Charlotte-based nonprofit that provides clinical and prevention-based care for children and families across the Carolinas, including programs such as A Child’s Place, and onsite facilities that house children and teens. Local owners plan to partner with several Charlotte-area nonprofits this year for other Quack Gives Back initiatives.

“We are so grateful and appreciative for the support of Duck Donuts,” said Emily Smith, donor engagement coordinator at Thompson. “We love that we were able to create a doughnut that is special to us – and just for us – here at Thompson.”

Participating locations include:

Common Business Plan Mistakes That Can Scuttle Your Pitch

Sharon Anderson
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Common Business Plan Mistakes That Can Scuttle Your Pitch

A business plan is a detailed document that outlines the business objectives and the methods you will adopt to achieve them. It also includes information on your products and services, marketing strategies, and funding. Putting together a business plan helps entrepreneurs and small business owners to fix the business goals, track their progress, and make corrections as the business grows. Business plans help investors to judge the potential of the business and decide whether they should invest in it. It is therefore important to avoid making common mistakes when crafting your business plan:

Unrealistic Financial Projections

One of the biggest mistakes entrepreneurs make when making a business plan is to make impractical financial projections, especially when pitching for investment. Investors and lenders are experienced and can spot unrealistic financial projections. Investors will invariably reject impractical business plans. According to Entrepreneur, it is important not to make assumptions without any basis.

Not Knowing Your Accounting Treatment

Some business plans need to be spot on in terms of their accounting. Questions asked of a financial nature can easily catch people out if they haven’t put the effort in. For example, if your business is going to be leasing large quantities of equipment, you need to be sure that you’re going to account for them accurately. Lease accounting has recently undergone an update with the release of the new lease accounting standard, ASC 842. If you were presenting or creating a business plan that hadn’t factored in adherence to the new standard then it might fall flat right away. The new lease accounting standard is engineered to promote transparency across the balance sheet. Whereas the old standard allowed for many off balance sheet transactions, the new standard aims to ensure all leases are on the balance sheet. If you’re planning an in-depth business plan, accountancy treatment is such an easy place to slip up. Getting it right shows you’ve done your research. This lease accounting standard update example is just one, there are multiple accounting standards updates each year. Work out your treatment and what kinds of standards you’ll be using, then make sure you’ve got the most up-to-date standard. Doing so will only make you look more professional and your plan will go further.

Not Defining the Target Audience

Even though every entrepreneur hopes that the products and services will have universal appeal, in real life, to succeed, they must define specific audiences and target them with products and services that address their pain points. The effectiveness of your business plan will depend on how well you have defined your target audience, customized your products and service, and your marketing strategies to address it. By not targeting specific audiences, you will dilute the impact of your marketing strategy and fail to achieve your goals.

Insufficient Research

For any business to be successful, owners need to conduct intensive research on various things like the size of the market, the needs of the target audience, and the nature of the competition, the regulatory framework, the technology, and more. It is vital to conduct adequate research with a large enough sample size and over a long time to ensure the conclusions drawn are accurate and reasonable. Many business plan examples have been thrown out for using incorrect or out-of-date information.

Not Focusing On the Competition Adequately

There is hardly ever any new business idea where there is no competition. Even if the idea is revolutionary, there are bound to be ways your target audience is satisfying their needs. When planning to set up a new business, you must focus on the competition, and what gaps are present so you can take advantage of them. Going head to head with established players is unlikely to make sense unless you have sharp differentiators, and it can mean more effort, time, and money to grab market share. Your business plan must identify lucrative niches you can occupy and dominate.

Conclusion 

You must take care not to present facts, figures, or theories that are inconsistent or conflicting with each other. For example, you must make sure that if you are quoting figures, they do not differ from one page to the other, or if you are presenting a marketing strategy, the focus should not be different across the document. Investors will spot inconsistencies and inaccuracies and call you out for being careless or unprofessional. One way of avoiding it is to put together a succinct plan that covers all the essential points and review it thoroughly before presenting it.

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