Okay, so... smudging can't make nearly all BG
i don't like brushes you've used, maybe try lightning brush set pack 3? use it with white and set on overlay
font is terrible - change it on Century Gothic
render isn't cutted nice, but it needs practice, so in nearly future you'll cut better
there's also no effects - copy layer with render three times to have four layers with render
on first make gaussian blur 4.0
second and third set on soft light
and on last, fourth, click ctrl+shift+u to delete colours and set the layer to overlay
keep practicing
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