Because everyone is doing this now and there are millions of books on Amazon and other marketplaces, the competition is high. Marketing and the positioning of your book is really the key to actually make it a profitable endeavor. Yes, you need to have great content that people want to read, but you have to have a strategy on how you will get the message out. If you have a big audience through a blog, podcast, social media channel, or another outlet, that really helps and can be a great starting point.
If not, you can partner with other influencers and people with large followings. If the idea of writing a book sounds intriguing but you have no idea what to write about, here are a couple suggestions. For nonfiction, consider medical topics that are important or widespread that would be of value to patients or other medical professionals. Test prep or study materials for exams and courses are another option. Outside of pharmacy and medicine, consider writing about a very profound story that involved you or someone you know.
If you have a very creative and imaginative side, perhaps writing a fictional book could be up your alley. There are many possibilities out there! People DO judge books by their covers and many people are turned off if they can immediately determine your book is self-published solely based on the cover. Spend good money on a quality cover! A couple of great books to help you get started with the writing and publishing process are Authority by Nathan Barry and Book Launch by Chandler Bolt.
If you are interested in doing an audiobook, I would recommend reaching out to Tony Guerra, PharmD who has published and helped other pharmacists publish many books. Not bad for a side hustle , right? If you enjoy teaching and are able to deliver great content in an engaging and professional way, there may be some great opportunities for you.
Besides checking out the major pharmacy and non-pharmacy job sites, you could consider reaching out to a local pharmacy school. Offering to do a free lecture or learning session can be a great way to show off your skills and could result in future paid opportunities. Like Brandon, you should also consider other healthcare professionals like nurses, physicians, and physician assistants who are required to learn pharmacy topics.
An advisory board provides strategic advice to a company or organization and unlike a board of directors, they typically do not have any voting rights or decision-making powers. Pharmaceutical companies and other healthcare organizations often have advisory boards and there are typically opportunities for pharmacists to get a spot. You often need to be an expert in a particular area or have the experience that can demonstrate your value. Diana Isaacs is a pharmacist who is an expert in the diabetes arena and has often been asked to serve on advisory boards to provide her knowledge and insight.
You can learn more about her experience with this in episode of the podcast. In episode of the podcast , Brent Rollins shared his story about becoming a pharmacist expert witness for law firms primarily focusing on marketing cases in addition to standards of care cases. He was able to get some experience while he was in school when his professor asked for assistance on a big case, he got his start and continued to receive casework.
Having a colleague as Brent did, to get an in is certainly a good way to get started but also consider your network of friends and family if they are attorneys or know attorneys who frequently take on cases that use pharmacists or other medical experts. You can also get plugged in with the American Society for Pharmacy Law.
What skill or knowledge outside of pharmacy do you have? Some ideas include photography and video editing, graphic design, IT, translation, voice production, social media management, and marketing. In I interviewed a pharmacist named Stephanie Roberts episode coming soon who had a passion for creating art and did this just as a hobby for a while until one day she had the idea of possibly selling some of her pieces.
To her surprise, her pill petri dishes and trays using epoxy resin have been a huge hit and continue to sell out all the time. She has become so successful that she now makes over six figures with her art alone and pharmacy has become her side hustle! You can see some of her work below.
When you consider inflation, money sitting in regular checking or savings accounts can lose a lot of purchasing power over time given most interest rates are essentially next to nothing. Sure you avoid market risk or the risk of keeping cash in other investments but there are other options that are less risky and can yield at least some return.
These include high yield savings accounts and money market accounts. But frequent trips can get expensive. In just 1. As an Airbnb host , you list a property you own or rent on their platform for guests to book and stay. Some people host their primary residence when they are out of town or have additional rental property or space that they list. Sure there are some potential issues that could occur such as theft or vandalism but you have control over who is able to stay based on reviews and other factors on the Airbnb platform.
If you want to find out how much you could earn by listing your space, you can check out the Airbnb estimator below. Many people have built entire businesses around managing rental property. On one of our most popular podcast episodes, Carrie Calton, PharmD discussed how she achieved financial freedom by acquiring 18 rental properties!
However, that amount will be dependent on your risk tolerance and the equity you want to start with. It may seem enticing to simply look at the potential mortgage payments vs. However, when you are doing an analysis to determine if the property would be cash flow positive and provide another stream of income, you have to consider ALL of the costs and maintenance involved such as insurance, HOA, taxes, repairs, capital expenditures, etc.
Along the lines of buying a rental property is house hacking. For example, if you purchase a single-family home, then you would rent out the other bedrooms. Or if you owned a duplex or condo with multiple units, you can live in one and rent the others.
Depending on the cash flow, you may be able to cover the mortgage payment and even make a profit. Check out episode for more information on this. Bigger Pockets is a great resource to get started and learn more about real estate and rental properties. It probably just sits in your garage or driveaway right? But what if your car could make you money? With Turo , you can! From the user standpoint, through their platform, you enter the date and location you are looking to use a vehicle, choose what you want, and book.
You can pick it up or even have it delivered to you. So how much can you earn? Not bad right? There are many practical ways to make extra money as a pharmacist. Some are directly related to the profession while other opportunities exist by capitalizing on other skills and interests you have.
Some need relatively little time and effort i. With the pharmacist salary being relatively fixed, having a side hustle and earning additional streams of income can help you reach your financial goals faster and help pay back pharmacy school loans. It can also give you an added layer of protection from relying on one source of income, which is important as the profession continues to undergo changes and technology and innovation are disrupting traditional roles and positions.
If you want some additional inspiration I would recommend checking out the side hustle series where I interview pharmacists who have businesses and gigs that bring in additional monthly income. Check your financial health by taking our free 5min fitness test. Let us know how we can work together! By Tim Church. In Maximizing Income. Starting Rates. Variable: 2. The "kayak" of student loan refinancing, credible compares rates from 10 lenders including Sofi.
Visit Credible. Variable: 1. Uses credit unions and local banks to find competitive rates. Visit Lendkey. Funded by banks and credit unions to offer low rates. Visit Splash. Under the MTI law, a professor at the public sector college is to be paid Rs, salary against the present package of Rs, a month.
To put brakes on the brain drain of medical teachers, the provincial government had announced in monthly allowances of Rs50,, Rs40,, Rs30, and Rs10, for the professors, associate professors, assistant professors and lecturers, respectively, but the amount was too little and the doctors continued to switch over to private colleges. As opposed to the clinical teachers, who earn a bulk of their income from private practice, they get lucrative offers from the private colleges and join them.
In the past few years, the basic sciences departments at the government colleges have suffered immensely and many of the colleges could face de-recognition if the PMDC checked strength of their faculties, sources said. They said that even the Khyber Medical College KMC , the oldest medical institution of the province, was severely short of medical teachers because the salaries given to them were far lesser than their colleagues in private institutions. The department receives bodies for postmortem and carries out other investigations into the cases such as sexual assault, age determination and other crimes.
The situation in the forensic sciences department of the Khyber Girls Medical College is not much different as the whole department is handled by an assistant professor. However, if the government enforced the MTI in its true spirit the situation with regard to the basic medical sciences could improve, he added. Higher salaries for medical teachers to stop brain drain Ashfaq Yusufzai Published February 7, Facebook Count. Twitter Share. MTI law promises increased salaries for doctors Therefore, for any medical college, it is mandatory to have complete faculties of basic sciences to be able to get recognised by the Pakistan Medical and Dental Council, the medical education regulator in the country.
Published in Dawn, February 7th, Read more. On DawnNews. Comments 1 Closed. Popular Newest Oldest.
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This increase is in keeping with the worldwide trend. Read Post a comment. Characters Remaining: Continue without login. Login from existing account Facebook Google Email. Share on Facebook Share on Twitter. All Comments Your Activity. We have sent you a verification email. To verify, just follow the link in the message. Stories SEE All. Trending Videos Day 15 - Strong Progressive! Navbharat Times. Featured Today In Travel. The determining characteristic of cryptocurrency, and probably the most attractive, is its organic nature as the fact that it is not issued by any central authority.
Cryptocurrencies have their own advantages and disadvantages. The main benefits of using cryptocurrencies are that they transfer the funds more easily between two parties in the transaction [ 5 ]. These transactions are facilitated through the use of public and private keys for security purposes. These fund transfers are carried out with minimal processing costs, allowing users to avoid the large fees for online transactions charged by most banks.
There are two reasons for the emergence of electronic money and digital currencies. Today e-money is the last stage of this development and represents an additional degree of institutional change [ 8 ]. Their main role is to support online e-commerce, enable transactions, reduce their costs, or replace the payment of money and coins in retail. The second reason for the emergence of e-money is the information revolution, which is characterized by the integration of electronic information processing and telecommunication technologies, which reduces the geographical differences by means of which information can be transmitted to the whole world.
The information revolution has changed the financial sector, making payment modes more secure and more efficient, giving an additional reason for the emergence of new monetary innovations [ 9 ]. Unlike the information revolution, the emergence of e-money is a new way of processing information for transferring purchasing power. Many financial innovations are not a new form of money, but a different way of using existing money in transactions [ 10 ].
Regardless of the consequences of the mentioned technological development, the nature of the money is still identical i. The nature of the money will never change, so the money will remain only an intermediary in the exchange of goods and services. It is considered that e-money is the most important achievement that transfers the predetermined monetary value so it can be used for more transactions of lesser value. It is a higher degree of technological development compared to magnetic tape cards.
Also, the e-pouch is more secure, which can reduce deception because cards with a chip can be more difficult to abuse than magnetic tape cards. Although cash is a quick and efficient payment method, the disadvantages of its use are numerous. Keeping cash is followed with many costs, including fraud, money loss, depositing, as well as the costs associated with managing money in financial institutions. The purpose of e-money is replacing the cash in transactions of small values, thus avoiding its shortcomings, for example French experience with Moneo.
Moneo is designed to reduce the cost of keeping cash and purchasing power to be temporarily transferred in a more efficient manner. This structure should be applied to various retail transactions of lesser value in order to eventually become a substitute for cash. Moneo offers great advantages for consumers and retailers. Benefits for consumers are: greater transaction speed and potential benefit in the form of a discount on future purchases. Consumers do not have to have an exact amount of cash each time.
There will be many mistakes in cash recovery. The owners of the Moneo card should carry fewer bank cards, especially if the features of debit and credit cards are included, and thus they would feel more secure [ 12 ]. Traders would receive cash before sending material goods or services, loyalty to customers would increase, the process of payment at the place of purchase would be speeded up, thereby reducing the processing costs of the transaction itself. If the benefit of using Moneo cards would be greater than the cost, retailers could pay to customers to use such a card [ 11 ].
Namely, debit and credit cards are not as effective a payment method for low value transactions as transaction-related costs become higher for retailers and buyers, and e-money can be used with much lower costs. Paying for e-money is followed by much lower costs compared to other payment methods, primarily credit and debit cards.
Another argument that accompanies the Moneo card is that it has a newer encryption technology compared to other cards, which increases security and limits the possibility of fraud. Because Moneo does not require any authorization or identification of the buyer, it allows additional reduction in transaction costs. The new technology of digital payments and currencies will allow real property to be used as a means of exchange.
How much e-money will be used depends largely on the motivation of its publishers, consumers and traders [ 13 , 14 , 15 ]. Motivation for the issuers covers the revenues from the collected fee from card users traders and consumers , income from investing the remaining amount of money, i.
Potential shortcomings for publishers can be expected costs for future regulation. The willingness of retailers to accept e-money is closely related to the fee that will be charged by publishers or operators. For consumers and retailers the most important will be their willingness to embrace new technology.
Most researchers believe that the use of e-money will be moderate in the short and medium term, while in the long run e-money can be very widespread. There are different and confronted opinions regarding the future of cryptocurrencies in general. The optimistic view of the use of cryptocurrencies is supported by the fact that they easily transfer funds between two parties in the transaction. These transactions are facilitated by the use of public and private keys for security purposes.
These fund transfers are made with minimal processing costs, allowing users to avoid large fees charged by most banks. In addition, many countries have begun to accept Bitcoin as a valid currency. In particular, countries that aim to get rid of cash have a very friendly approach to encryption.
The argument that the promoters use for Bitcoin is the market capitalization of Bitcoin, ether and other cryptocurrencies, claiming that the cryptocurrency market has become very large and powerful, and the ban would be expensive for each country. This means that the market value of cryptocurrencies is greater than the value of the Citigroup. Among other significant cryptocurrencies are Ripple and Ethereum. The cryptocurrency Ripple, designed for banks and global money transfers, has seen a major feat in the value of its digital currency that has risen in recent months.
It allows users to send, receive and hold any currency in a decentralized way through the Ripple network. The company has a positive cash flow relationship and owns a huge shop on the XRP Ripple Market , which is periodically released on the market. Investors who believe that cryptocurrencies can reach peak, are looking for others that could provide a greater return in the long run. However, the company has made some significant milestones in recent months.
By the end of October , Ripple licensed its Blockchain technologies to more than banks. However, the support for cryptocurrencies like Ripple is certainly superfluous and is something that should be understood by potential buyers and sellers because it gives those financial institutions a much higher level of control over Ripple than most other cryptocurrencies in the market. These independent servers do not have to provide calculations for work evidence, such as Bitcoin, nodes simply validate transactions by themselves like traditional banks.
Although the value of the Ethereum is not like Bitcoin, it is great for trading, and some of its more advanced features give exciting potential for the future. Ethereum functions as well as most other cryptocurrencies. Ethereum token—Ether, works similar like Bitcoin. You can buy and sell with confirmation of transactions that are handled through the block.
It is completely decentralized, without bank securing of the certificates needed to check the transactions. Completing these algorithms, the gob is rewarded with Ether, much like digging a Bitcoin that rewards with Bitcoin.
As far as Ethereum and Bitcoin have some similarities, however, both platforms have different goals. Bitcoin is a strictly digital currency, designed to function as a means of payment or a warehouse with value, Ethereum takes a greater approach. Ethereum functions as a platform through which people can use ether tokens to create and execute applications and more importantly smart deals. Smart contracts are contracts written in the code, which the creator transfers to the block.
Each time one of those contracts is executed, each node of the network executes it, set to Blockchain [ 16 ]. Thus, it is preserved in the public book, theoretically protected from evidence. Like other cryptocurrencies, Ethereum is prone to wild fluctuations in value. While Ethereum has risen high late, it is also susceptible to falls as well as other cryptocurrencies.
Ethereum whether it is strong enough to survive a long run, or is a short-lived trend, remains on time. From here we will conclude what are the advantages of the cryptocurrencies [ 17 ]: No inflation—the maximum number of coins is strictly limited for example, 21 million in Bitcoin. Since there are neither political forces nor corporations that can change this order, there is no possibility of developing inflation in the system.
Peer-to-peer cryptocurrency network—in such networks there is no master server, which is responsible for all operations. The exchange of information in this case—money is between 2 and 3 or more software customers. All installed by programmers-users who are part of the network. Each client stores a record of all transactions executed and the number in each wallet.
Transactions are made from hundreds of distributed servers. Neither banks nor taxes, nor governments can control the exchange of money between. Unlimited possibilities for a transaction—each of the wallet holders can pay to everyone, anywhere and any amount. The transaction cannot be controlled or prevented, so you can make transfers anywhere in the world wherever a user is placed with a wallet.
No borders—payments made in this system are impossible for cancelation. Coins cannot be forged, copied or spent twice. These opportunities guarantee the integrity of the field system. Decentralization—there is no central controlling authority in the network, the network is alluded to all participants, each computer crypto-valued member is a member of this system. This means that the central government has no power to dictate rules to cryptocurrency owners.
And even if some part of the network goes offline, the payment system will continue to function steadily. Anonymity—completely anonymously and at the same time completely transparent. Each company can create an infinite number of crypto address addresses, regardless of name, address, or any other information. Transparency—Bitcoin stores the history of transactions that have ever happened.
It is called a sequential block of blocks or a blockhead. The block keeps information about everything. So, if the company publicly uses the Bitcoin address for example, then everyone can see how much Bitcoin is owned. If the address of the company is not publicly confirmed, then nobody will ever know that it belongs to this company.
For full anonymity, companies use the unique bitcoin address for each transaction. The only difference in online banking is the disclosure of information to users. Transaction speed—the ability to send money everywhere and everyone within minutes after the network of the crypto-currency will process the payment. Cryptocurrency opponents argue that cryptocurrencies are highly unstable, can be used for money laundering or financing illegal activities.
In this regard, Humphrey, for example, is giving reasons why the cryptocurrency is not a viable electronic currency [ 18 ]. He notes that Bitcoin is illiquid and has shown price volatility and that the discounted monetary value of Bitcoin is zero.
Further, he notes that the currency does not have a central issuer, and that there is no financial or economic basis for its creation. They are: Strong instability—almost all the ups and downs of the value of some cryptocurrencies. This instability creates the problem in the short term. Difficult to understand—crypto-valves are relatively new and come with a learning curve.
People end up investing without proper knowledge and are losing money for something they have not learned. Lack of knowledge—people are not aware of how to use cyberattacks and hence be exposed to hackers. The technology is somewhat complex and therefore we need to educate ourselves before investing.
All you can do is asking the person to return the funds and if your request is denied, then just forget the money. Major risks for investing in cryptocurrencies that need to be considered in the medium and long term. Many experts believe that the list of deficiencies in crypto-voltages is much longer and related to the risk of money laundering, terrorist financing and other illegal activities, the lack of a central publisher, which means that there is no legal formal guarantee person in the case of bankruptcy, and the like.
Although it is very difficult to predict, many academics and professionals in this topic argue that the future of cryptocurrency is bright because it will remove trade barriers and intermediaries, reduce transaction costs, thereby boosting trade and the economy. Analyzing the process of money accepting, shows that money is usable as individuals believe that others will be used them for different needs in society. Krueger believes that individuals will accept the e-money system as long as its value is compounded and not reduced drastically [ 19 ].
The fact that the individual accepts the money stems from what others accept. Anticipating factor is the key determinant of accepting money. Acceptance, trust and anticipation are the basic factors that enable the spread of the network. However, these factors are not enough because the size of the network also requires interdependence of demand, which means that the network must reach the minimum required size before it reaches a balance.
A critical mass or starting base plays a key role in the development of the network. Electronic money cards, like other innovations that involve creation of a network between the manufacturer and the consumer, are a product that inevitably involves the network externality must touch the critical mass of the user before starting to use it successfully.
The indicated phenomenon in literature is called a two-sided market. The development of the payment instrument first depends on two types of externalities associated with their application and use. The outsourcing of the network exists because the average consumer benefits from such an instrument, only if other consumers and traders use the same payment instrument. Additionally, the total benefit from the use of e-money card exceeds the usage limit realized by the individual consumer.
By accessing one user to the network, the benefits for other users are increased. Consumer benefits will increase when more merchants accept the new payment instrument, while the commercial benefit will increase if consumers use the new instrument more often. Additionally, the attractiveness of such an instrument can be reduced due to the incompatibility and competitiveness of the composition, as in the case of video recorders a few decades ago [ 23 ].
The use and distribution of the network is a complex issue because the interdependence of demand will remain an obstacle until the network reaches a critical mass, either independently or with the help of a regulator.
According to the analyses of Katza and Shapira the growth of the network in its nature can be self-fulfilling [ 24 ]. Accomplish a critical mass in using Blockchain is not easy because traders must invest in special POS devices to be able to use e-money; and consumers will have to use e-money in a retail transaction as a substitute for coins and paper money.
The goal of this problem is to convince a large number of users to start using e-money. One of the reasons that few people use this payment method is precisely the habit of using cash for a retail transaction. Consumers gained confidence in financial intermediaries over time, and therefore did not get used to doing a transaction without their presence.
Therefore, consumers are not ready for change. More consumers need more time to get to know the functioning of the new payment system. Accordingly, most of them would look forward to seeing the development of the situation because they want to gain more confidence before accepting innovation. As each phenomenon goes through stages of development, it is possible to expect further progress and an economy without cash using the digital economy.
The use of e-money is a complicated phenomenon and firstly depends on the interactions between users of products and services. According to Schmalensee the network can be defined as a composition of directly or indirectly coupled nodes [ 25 ]. Schmalensee considered that the main hallmark of the network is the fact that there is a network externality.
The above concept is often applied in economic literature; also often appears in the literature on industrial organizations and public finances [ 20 , 26 ]. This is the way how Bitcoin works for the most users. The authenticity of each transaction is protected by digital signatures and corresponds to the sent address, allowing for all users to have complete control over the sent Bitcoins from their own Bitcoin addresses.
So, anyone can perform processing of transactions using computer with specialized hardware, and earn Bitcoins for this service. This concept has positive spiral. It is often mentioned in relation to products used in digital technology, i.
They classified the network externalities into two groups-direct and indirect. In such a network there are inactions and complementarity between users of the same product or service. Indirect network externalities exist when increasing the size of the network increases the supply of products or services available for network users. Network externality introduces dynamic elements for network users when deciding on entering the network, as well as for manufacturers of such products when making a production decision [ 16 ].
Consumers in the decision to enter the network must take into account the size of the network for the future. The companies are motivated to invest in building a network from which they would make a lease later. Five years ago Bitcoin showed the opportunity for being anonymous. The biggest part of Bitcoin users are law-abiding people motivated by privacy concerns. Also there are people that see the anonymity as a tool for financial crime. This was a reason to show attempt for virtual currency regulation.
So, in the U. Department of Treasury issued Guide how to use digital currency and money transmitters. In that time was taken some steps for Bitcoin regulation, meaning that cryptocurrency should be threaten as a taxable property. Conducting transactions in digital currencies has emerged as one of the preferred payment methods because it provides anonymity and privacy. At the begging as it previous mention in the text, digital currency was subject of interest for criminals.
Bitcoins are transferred between transacting parties without an intermediary, thus offering providing level of privacy and anonymity. A public ledger contains the transactions as cryptographic representations, but no personal information is recorded.
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Most Voted Newest Oldest. The amazing thing about this bitcoins dollars into cash and. But want to remark on laptop or a computer, the buy and sell now even in Pakistan. You can mine bitcoins every. Getting recording from both. This way your investment remains. And i am glad reading. Its a decentralized form of some general things, The website machine itself does all the work. This is the easiest way. Bitcoins arent created every second.Earn bitcoins. Open the link in See more of Latest Pharmacy & Medical Books on Facebook. Log In Drug Regulatory Authority of Pakistan. Cash on delivery service in whole Pakistan. Phone/WhatsApp: See more of Latest Pharmacy & Medical Books on Facebook. Log In Earn bitcoins. Open the. Check out these practical ways to earn some extra cash, not in a year or those struggling to pay back pharmacy school loans and other debt.