Businesses had to learn how to maintain customer relationships and generate revenue in an unfamiliar landscape that seemed to turn traditional commerce upside down. While many companies were given some relief through PPP loans and other bailouts, you can’t expect this to be the norm every time we enter a time of economic uncertainty. Instead, business owners should take time to establish areas of vulnerability in their business plans and make appropriate adjustments to ensure that their company can weather economic obstacles without relying on external bailouts or help.

Here are a few ways you can safeguard yourself and your business against financial ruin, no matter the economic climate.

Diversify Revenue Streams

Diversifying your revenue streams is one of the most surefire ways to protect your business. As the saying goes, “Don’t put all of your eggs in one basket.” This is especially true during times of economic recession but is also a good rule of thumb at all times. The more ways you can come up with to generate income, the better off your business will be.

According to Forbes, one very effective way to diversify your sources of income is by expanding your product line by adding products that complement or make sense with your existing products.

You might also consider entering new geographic markets. Depending on the size and nature of your company, this could mean expanding into a neighboring town or establishing a client base across the country or even the world.

Many businesses made it through the pandemic by developing new sales channels. Specifically, many brick-and-mortar businesses switched to an online mode. You might want to try this to ensure your business remains sustainable.

Selling advertising on your website is another way to generate additional income and is a good idea to look into, regardless of the current state of the economy.

Implement Cost-Saving Measures

When creating your plan to keep your business self-sufficient, it’s important to consider all your expenses and identify ways to minimize costs. Look at your workforce. Is everyone essential? Is there redundancy among job descriptions? If so, you may consider downsizing your workforce.

Additionally, examine costs associated with your vendors. Is there a comparable product that you can secure for a lower price? If you are paying for services such as website hosting, payroll, or other business-related tasks, do some research to see who is offering the lowest price without compromising quality.

Finally, analyze any brick-and-mortar storefronts or office space and determine if you really need them. A lot of business models have shifted to remote or hybrid from the pandemic. This saves companies thousands in lease payments and rent. Can your company function with a remote workforce? Has most of your revenue shifted to online orders? If so, consider eliminating some of these unnecessary expenses to minimize your overhead.

Foster Strong Customer Relationships

Perhaps the most important component to the success of any business is a loyal client base. This isn’t something you can really take shortcuts to establish. Instead, invest the time and effort needed to ensure your customers feel seen, valued, and appreciated.

In times of economic uncertainty, maintaining communication and strong relationships with your customers can be harder than usual. It can be helpful to get creative with ways to connect with your customers through social media as well as in person. This can be as simple as creating social media posts that drive traffic and click-throughs or having customer appreciation days. The possibilities are endless when it comes to staying connected with your client base, and it’s worth taking the time to brainstorm ideas that make sense for your target audience. After all, without customers, no business can survive.

Prioritize Resilience, Innovation, and Long-Term Planning with an 831b Account

While most – if not all – businesses carry traditional insurance plans, not as many are aware of the benefits of having an 831b plan. This type of account provides an added level of safety when unexpected hardships or expenses occur. It protects areas that aren’t covered by traditional insurance plans and can be invaluable when disaster strikes.

This tax code allows businesses to access funds set aside for uninsured risks. You can tailor an 831b account to meet your company’s specific needs and best complement your business.

During the pandemic, there was a steep uptick in the number of businesses utilizing 831b accounts, and it’s easy to see why. This added layer of protection was the difference between financial ruin and financial solvency for many businesses.

The post 5 Ways Businesses Can Be Self-Sustainable During Economic Uncertainty   appeared first on SmallBizTechnology.

Below are some of the new technologies available to help you cut your electric bills.

Advanced IOT software development has given us new motion sensors that can be used in the home to reduce electricity use. New motion sensors are coming on the market that can turn off lights in rooms that are not being used. Motion sensors also can turn off overhead fans if it senses there is no motion in the room for a certain period.

These motion sensors can help you save on electricity every day. And the devices don’t cost a lot and are easy to install.

Your smartphone may be small, but it can have a hefty impact on your electric bill. One estimate is that small electronic devices account for 13% of our electric bill.

But there are companies offering smart power adaptors that will shut off your phone charger as soon as the phone has a full charge.

The Department Of Energy reports that cool roofs are coming out with special substances that reflect sunlight and take in less heat than a regular shingle roof. They think these types of advanced roof systems will even be able to get cooler as fluorescent pigments are developed.

Some pigments are being developed in the laboratory that can reflect almost 400% more sunlight than regular pigments.

Having a roof that reflects sunlight and absorbs less heat is especially important in warmer climates. Think of states such as Texas and Florida. The air conditioner doesn’t have to work as hard because the home doesn’t heat up as much with the reflective roof.

Energy Star appliances are designed to use as little energy as possible and still do their jobs well. When you buy a new washer, dryer, refrigerator, or dishwasher, look for the Energy Star tag to see what the annual energy consumption is.

You’ll save a lot on electricity bills with Energy Star appliances.

Traditional light bulbs are inexpensive but they waste a lot of electricity. New LED bulbs use about 85% less electricity and can last up to 20 times longer than regular bulbs.

You can definitely reduce your electric bill by a few dollars per month by buying LED bulbs.

The latest insulated windows feature microprocessors and sensors that can automatically adjust shading during all parts of the day. The windows will adjust the degree of shading provided according to the amount of sun hitting that part of the house.

These special windows can help you save on electrical costs by reducing the amount of sun and heat coming into the house.

Also, advanced double and triple-paned windows can also cut your electric bill. Single-pane windows are inexpensive but do a poor job of blocking heat. When the hot summer sun hits a single-pane window, put your hand on it. You’ll notice it feels very warm and some of that heat transfers into the home. This means the AC must keep running to cool things down.

Advanced double-paned windows usually feature two or even three glass layers separated by gas-filled spaces that reduce the amount of heating getting into the room.

Don’t Forget Saving on the Water Bill

Saving on electricity costs is important, and the technology mentioned here can be a big help. Also, technology can help you save on your water bill, too.

The EPA estimates that routine water leaks waste about 1 trillion gallons of water annually. That’s more than 1,000 Olympic-sized pools!

You can cut your water leakage by installing a smart leak sensor under sinks, behind toilets, and around the washing machine. When there is a water leak, the detector sends an alert to your smartphone.

It’s also nice to know if you have a water leak so you can get it repaired before there’s serious structural damage.

These new smart technologies can reduce your electricity bill and water bill. And you get to help the planet, too, so what’s better than that?

The post How to Use Technology to Save on Electricity Bills  appeared first on SmallBizTechnology.

Over the past few decades, the middle class in the U.S. and the U.K. has faced numerous setbacks. Economic policies that favor the wealthy, such as trickle-down economics, have exacerbated income inequality and hindered upward mobility. The result is a growing wealth gap, with the rich getting richer and the middle class struggling to maintain their standard of living.

Trickle-down economics, a theory that advocates for tax cuts for the wealthy and corporations, promised benefits for the less well-off. However, it has failed to deliver on its promises. Instead, it has led to a rise in national deficits, cuts in vital investments like education and infrastructure, and increased outsourcing of jobs to lower-wage countries. The U.S. and the U.K. have witnessed the negative effects of this approach.

In the U.K., privatization under Prime Minister Margaret Thatcher has affected essential services like water utilities. The recent news of Thames Water’s potential collapse under the weight of its debts highlights the challenges faced by privatized companies. This situation has put pressure on the sector, leading to issues with sewage management and maintaining supplies to customers.

The dissatisfaction among workers is not limited to extremist trade unionists, as some sections of the media portray. Even traditionally secure and well-rewarded professions, such as senior doctors, nurses, teachers, and civil servants, are expressing their discontent through strikes and protests. This widespread dissatisfaction indicates a growing feeling of exploitation among employees.

The decline of the middle class has far-reaching consequences for communities and society as a whole.

The American Dream, the belief that hard work can lead to upward social mobility and a better life, is fading for many. Young people, in particular, are disillusioned by the unattainability of a good job, home ownership, and financial stability. This erosion of the American Dream not only affects individuals but also undermines the foundation of a prosperous society.

A vibrant middle class is crucial for the stability and growth of any economy. Policymakers often view the development of a strong middle class as a vital step towards democracy in developing countries. Historically, revolutions have been fueled by the disappointments of the middle class. Therefore, the decline of the middle class in countries like the U.S. and the U.K. has broader implications for social cohesion and political stability.

Business leaders have a significant role to play in restoring the middle class and creating a more equitable society. By adopting responsible and inclusive business practices, they can contribute to the well-being of their employees, communities, and society at large.

One of the most impactful ways business leaders can contribute is by creating good jobs that provide fair wages and appropriate benefits. Paying employees a living wage not only ensures their financial stability but also boosts their morale and productivity. Moreover, offering comprehensive benefits packages, including healthcare and retirement plans, shows a commitment to the well-being of employees.

Business leaders should prioritize investing in the development of their employees. Providing training and educational opportunities allows workers to acquire new skills and stay competitive in a rapidly changing job market. This investment not only benefits the employees themselves but also increases the overall productivity and competitiveness of the company.

Diversity and inclusion are crucial components of a thriving middle class. Business leaders should embrace diversity in their workforce and create an inclusive work environment where all employees feel valued and respected. This approach fosters innovation, creativity, and a sense of belonging, leading to improved employee satisfaction and retention.

Business leaders should actively engage with their local communities and support initiatives that uplift the middle class. This can be achieved through partnerships with educational institutions, funding community projects, or participating in mentorship programs. By investing in the well-being of their communities, business leaders contribute to the overall prosperity of the middle class.

The decline of the middle class in countries like the U.S. and the U.K. calls for urgent action from business leaders. By adopting responsible and inclusive business practices, they can contribute to the restoration of the middle class and create a more equitable society. Paying fair wages, investing in employee development, promoting diversity and inclusion, and supporting community initiatives are all essential steps toward rebuilding the middle class. Business leaders must recognize their role in shaping the future of the economy and society, and take the necessary actions to ensure a prosperous and inclusive future for all.

First reported by Forbes.

The post What Business Leaders Must Do To Restore The Middle Class appeared first on SmallBizTechnology.

Audi, once considered a frontrunner in the luxury car segment, has been facing challenges in recent years. The brand has struggled to keep pace with its competitors, such as BMW and Mercedes-Benz, in terms of sales and innovation. As a result, Volkswagen recognized the need for a change in leadership to drive Audi’s growth and bring it back to the forefront of the luxury car market.

Volkswagen has appointed a seasoned executive, John Doe, as the new CEO of Audi. With over two decades of experience in the automotive industry, Doe brings a wealth of knowledge and expertise to the role. His previous leadership positions at renowned car manufacturers have equipped him with the necessary skills to navigate the challenges faced by Audi and propel the brand towards success.

Doe has outlined a strategic vision for Audi that focuses on several key areas: product innovation, customer experience, and brand positioning. By investing in research and development, Audi aims to introduce cutting-edge technologies and sustainable mobility solutions to attract discerning customers. Additionally, the brand is committed to enhancing the overall customer experience, from the initial purchase to after-sales service, to build long-lasting relationships with its clientele. Lastly, Audi will work on repositioning its brand image to align with the evolving demands and expectations of luxury car buyers.

In today’s fiercely competitive automotive industry, Audi faces stiff competition from established luxury car manufacturers as well as emerging players in the electric vehicle market. To regain its competitive edge, Audi plans to leverage its strengths and capitalize on emerging trends. The company will focus on developing a comprehensive electric vehicle lineup, expanding its presence in key markets, and investing in innovative technologies such as autonomous driving and connectivity.

In recent years, Audi has faced challenges related to its reputation, including the diesel emissions scandal that affected its parent company, Volkswagen. The new CEO recognizes the importance of rebuilding trust and confidence among customers, stakeholders, and the general public. Under his leadership, Audi will prioritize transparency, integrity, and sustainability in all aspects of its operations, ensuring that the brand regains its position as a trusted and responsible player in the automotive industry.

Audi’s success relies not only on its internal capabilities but also on strategic collaborations with key partners. The brand will actively seek partnerships with technology companies, suppliers, and other industry players to drive innovation and accelerate its growth. By fostering a collaborative ecosystem, Audi aims to tap into the collective expertise and resources of its partners to deliver exceptional products and services to its customers.

To execute its strategic vision successfully, Audi recognizes the importance of investing in its employees. The company will provide training and development opportunities to enhance the skills and capabilities of its workforce. By fostering a culture of continuous learning and innovation, Audi aims to empower its employees to contribute to the brand’s success and stay ahead of the evolving automotive landscape.

With a new CEO at the helm and a clear strategic roadmap in place, Audi is poised to embark on a new chapter of growth and innovation. The brand aims to regain its position as a leader in the luxury car segment by delivering exceptional products, providing an unparalleled customer experience, and embracing emerging technologies. As Audi rebuilds its brand and strengthens its competitive position, it remains committed to its core values of quality, craftsmanship, and sustainability.

Volkswagen’s decision to appoint a new CEO for Audi underscores its commitment to addressing the brand’s challenges and positioning it for future success. With a strategic vision, a focus on innovation, and a dedication to customer satisfaction, Audi aims to reclaim its position as a leading luxury car manufacturer. As the automotive industry continues to evolve, Audi will leverage its strengths and forge strategic partnerships to stay at the forefront of innovation and meet the changing needs of its discerning customers.

First reported by Bloomberg.

The post Volkswagen Appoints New Audi CEO amidst Struggles to Keep Pace with Competitors appeared first on SmallBizTechnology.

However, introducing automation can be a daunting task. It’s vital to ensure that your employees are on board with the changes and can seamlessly adapt to the new processes.

This post will discuss different strategies to introduce automation seamlessly to your employees. Keep on reading to learn more.

Importance of Automation to Your Business

So, here are some of the critical ways automation can be crucial to your business:

• Improved Efficiency

Automation can streamline routine tasks and processes, reducing the time and resources needed. This can free employees to focus on higher-value activities requiring human input, such as customer service or strategic planning.

• Increased Productivity

Automation can help businesses produce more output with the same or fewer resources, allowing them to grow and scale more quickly. Also, it can complete tasks faster and with fewer errors, allowing businesses to deliver products or services more efficiently.

• Enhanced Accuracy

Automation can eliminate human error in repetitive tasks or require high precision. So, this can reduce the risk of mistakes and errors, leading to higher-quality output and improved customer satisfaction.

• Cost Savings

Automation can help businesses save money by reducing the need for human labor and the associated costs of recruitment, training, and retention. It can reduce the costs of errors, delays, and rework as well.

• Improved Compliance

Automation can help businesses comply with regulations and standards by enforcing rules and procedures consistently and accurately.

Introducing Automation to Your Employees

Automation can be a big change your personnel can’t readily accept. Automation in the workplace can set forth different learning roadblocks to your team. Nonetheless, you can make it easier for everyone involved by checking out the tips below:

• Provide Training Opportunities

Offer training opportunities for employees to learn the new skills required for the automation process. Likewise, this helps them feel valued and ensures you equip them with the necessary knowledge to succeed.

Start by providing general automation training to all employees so they understand the basic concepts of automation, its benefits, and how it works. You can hire marketing automation experts to train your employees.

Also, encourage a culture of learning and growth by providing opportunities for employees to learn about new technologies and innovations in their field. This helps them feel empowered and engaged in the automation process. Additionally, encourage continuous learning and development to keep employees up-to-date with the most recent trends and technologies in automation.

Then, identify the skills employees will need to use and develop to work with automation and provide training on those skills. For example, if employees will be working with a new software tool, provide training on how to use that tool effectively.

• Start with the Basics

Before introducing automation, it is crucial to ensure your employees are comfortable with the technology used. This means providing resources to help them understand the new systems and tools.

Moreover, ensure you’re clear about the benefits of the latest technology and how it will impact their work. So, be transparent about changes, how they’ll impact their jobs, and what training and support will be provided.

Identify the tasks that’ll be automated. Start by identifying the manual, repetitive, and time-consuming tasks that can be automated. Focus on tasks that’ll allow employees to focus on higher-value work.

It’s essential to start with small changes when introducing automation. This can help minimize disruption and give your employees time to adjust to the new processes. Once the initial changes have been successfully implemented, you can gradually introduce additional automation.

• Communicate Clearly

When introducing automation, it’s essential to communicate with your employees about the changes that will be happening. Make sure that you explain why the change is happening and what the benefits will be.

It’s also essential to address any concerns your employees may have and support them as they transition to the new processes. Communicating with them reassures them that they aren’t being replaced. This helps prevent the employees from dropping their work standards or quitting because they feel threatened by the changes around them.

Involve your employees in the process of introducing automation. This can include seeking their feedback and input on the new systems and processes. By involving your employees, you can ensure that they feel valued and invested in the project’s success.

Additionally, companies should ensure that automation doesn’t replace employees yet complements their work, allowing them to collaborate with technology to achieve better results.

• Monitor and Evaluate Progress 

Finally, it’s essential to monitor and evaluate the success of the automation project. This can include tracking key performance indicators and gathering feedback from your employees.

Choose metrics that’ll help you measure progress toward your goals. This could include cost savings, productivity gains, error rates, or employee satisfaction.

Monitor progress regularly, keeping an eye on the metrics you established. Once you’ve collected enough data, evaluate the results to determine if the automation achieves the desired outcomes. If it isn’t, identify areas for improvement and adjust accordingly.

Monitor the progress of automation implementation and its impact on employees. Collect feedback and address any concerns or issues promptly. Communicate the results of the automation implementation to employees and stakeholders, highlighting any successes and areas for improvement.

By monitoring and evaluating the project, you can identify areas for development and ensure that the project is on track to meet its objectives.

• Recognize and Reward Success

It’s essential to recognize and reward success as you introduce automation. Celebrate successes and recognize employees’ contributions who have adapted to the changes and used the new automated tools effectively.

Recognize the individuals who have played a significant role in the automation process. This could be in the form of a thank-you note or a shout-out during a team meeting. Rewards can help motivate your employees and show them their efforts are appreciated. By recognizing success, you can encourage a positive attitude toward change and innovation too.

Set up milestones for the automation process and celebrate them when they’re achieved. This could be as simple as throwing a small office party or providing lunch for the team.

Conclusion

The benefits of automation are significant and can have a transformative effect on a business’s operations and bottom line. By leveraging automation, companies can increase efficiency, productivity, and accuracy while reducing costs and improving customer satisfaction.

Introducing automation to your employees can be challenging, yet with properly implemented strategies in place, it can be done seamlessly.

By starting with the basics, communicating, involving your employees, starting small, and evaluating the project, you can successfully implement automation in your workplace and benefit from increased efficiency, lower costs, and streamlined processes.

Author’s Bio

Victoria Bennett is a change management consultant with a focus on helping organizations successfully adopt new technologies and processes. With over 7 years of experience, she has guided numerous companies in implementing automation and other digital solutions, ensuring a smooth transition for employees. Victoria frequently shares her expertise on change management and employee engagement through guest posts on various business blogs. In her free time, she enjoys hiking, practicing mindfulness, and exploring the world of culinary arts.

The post How to Introduce Automation Seamlessly to Your Employees appeared first on SmallBizTechnology.

Control the Environment

It is common practice to believe that there are no distractions in a healthy and productive work environment. And well that is typically true, but that may not always be the case. However, when looking to figure out how your employees work best it is imperative that you find the proper consistency.

By having a consistent environment you can begin to add and eliminate factors that you can measure for finding each individual’s most productive work habits.

Set Up the Units

How do you measure the productivity of your employees? Once your environment is stable you can begin finding out the units of productivity you are aiming to measure. This is how you will measure everything and is inextricably tied to the question you want to ask. How much work is being completed?

Keep in mind that any survey will not be completed in a vacuum so there is an extra amount of incentive to make sure that whatever tasks are deemed as “measurably equal” are indeed close to being so. As well as understanding any confounding variables that may affect the work from external departments, or a catch in the pipeline that may be unavoidable and throw off your data.

Several reputable metric ideas are:

• Projects Completed
• Work Hours/Overtime Rate
• Effectiveness Ratio – Achievables, Assets & Inventory
• Turnover Rate
• Sales Growth
• Revenue Per Employee

Establish the Baseline

This is a three-part metric, How fast for the person, how fast for the company, and how fast for the industry. And while speed is the chosen metric for this article, replace “fast” with “well”, “diligence”, or “competency” and you have a similar slew of insights with which to be presented.

Similarly, when interrogators are trying to read the habits of a subject they often establish a level of baseline characteristics as they are searching for a particular deviation, more so than any specifically direct indicator.

By deciding which metrics are important you can begin to map them in the “stable” environment discussed. By understanding an individual’s baseline you then alter aspects to find out how it affects each employee.

Add in Variables

Life may do this for you. Throwing in numerous variables like having to work remotely, employees getting sick, on the days leading up to, or coming off of a major holiday, and off-work happenstances resulting in debilitating physical or mental issues. The possibilities are endless. If you have established the ways that you effectively measure what productivity you are going for – hours worked, tasks completed, inquiries given, you will easily be able to begin to cross-referencing aspects of life – good and bad to find what stimulus makes each of your individual workers most productive.

Maybe one of your workers uses the weekend to recharge and is most productive on Monday but by the time Friday returns, is something of a distraction. Perhaps a worker is incredibly effective remote and you need to rearrange some desks. Potentially a worker performs exceptionally well under the very prominent stress of the holidays. Or maybe a typically productive worker has fallen off and you should inquire about their personal life.

Most importantly as an employer or supervisor, your best undertaking is to create a stable and suitable work environment. This way, you begin A/B Testing your employees and find a way to optimize their best attributes. Everyone has a distinct way they like to work. Yet, it works even better when they find efficiency. So in this case, how do you measure the productivity of your employees? By finding their baseline you can begin to shape your company to the productivity of your most important resource.

The post How to Measure the Productivity of Your Employees appeared first on SmallBizTechnology.

A “bot” is a computer program that operates and impersonates a human on the internet. They feature artificial intelligence to varying degrees and are not always necessarily a bad thing. Google and Bing use bots to comb the internet. It’s part of how organic SEO is constructed.

LinkedIn bots work similarly but not entirely to the same ends. LinkedIn bots are often used as part of a CRM (Customer Relationship Management) and are sent on full automation to comb LinkedIn for leads. Here is an almost nearly comprehensive article breaking down the best consumer-grade bots to let loose on LinkedIn.

However, if you are not in the lead generation mess that is CRM you could fall prey to getting combed by a fake sales representative looking to peddle who knows what to you unwittingly. Here are some helpful tips to help break down who or what exactly you’re talking to on LinkedIn.

Account Frequency and Activity

LinkedIn bots can post frequently and without fault. A normal person may post often, however, it is unlikely they will be posting excessively, multiple times over the course of a day. Given the hours and nature of the content, it can reveal much about the nature of the entity on the other side of the screen.

The higher the frequency, time of day, and subject matter can give you clues. Yet ultimately, the higher the number of posts the more likely an automated response software or bot is behind the account.

The Flow of the Conversation

Bots are typically punchy, short, and to the point. While they have gotten their hold on more capable AI in recent years, they are often still clunky and repetitive. They tend to pull from a list of discernible targeted responses and will lack the nuance to have a slight change.

The greater the similarity of the individual’s comments may indicate that you are dealing with an automated response bot. Try asking the same question in a slightly different way. As the program has to elect to operate any given number of responses to filter into a given answer it is likely the entity – if it is a bot will respond with the exact same answer.

Two-Step Disassociation

Have question a, lead to question b. And have the context for that second question rooted in the first. Think,

Q: Where are you working?

A: Seattle

Q: What is the weather like outside?

A: Can you please rephrase the question?

This is indicative of bot behavior; a human would likely understand the nature of the question and comply; however, a bot cannot logically jump between the two at this point.

The Profile

It is unlikely that bot profiles will detail a rich and well-lived history. Most people give at least a general overview of their life. Where they’ve worked, their professional accolades, and so on. A bot will typically only have a profile image and a company, with maybe a school they went to or so on. Bots typically only have the most essential necessities to appear passable. Again, think of nuance and personality to discern humanity.

The more the “life” feels “lived” and the greater the personality the account has, the more likely it is in fact a real person. With bots, it can be handy to revert to the overall feel of the conversation. Once again, think Justice Stweart’s, “I know it when I see it.”

The post How to Identify Bots on LinkedIn: Fake Sales Representatives appeared first on SmallBizTechnology.

If you’re spending more on contractors and employees than the industry average for a company your size, dig a little deeper. Is there a staffing shortage in your area? Do you operate in a region that has a very high cost of living? If you answer “yes” to either of those questions, you might consider taking your talent search worldwide. Here are three ways to prepare your business for global hiring.

1. Research the Legalities

With international hiring, the potential for value is definitely there. You can reach a much bigger applicant pool and potentially cut down on overhead costs. However, hiring abroad does present some hurdles. You cannot hire employees from another country using the same process as you would for local applicants. Legally, you are not allowed to hire a foreign citizen unless your business has a physical presence in the country of hire.

So does that mean that you need to establish a brick-and-mortar location in every country you might hire from? Thankfully, no. To get around the requirement of maintaining an international business entity, you can instead engage an employer of record. An EOR will set up locations in a variety of countries and can hire employees on your behalf.

Naturally, you will need to make sure your third-party provider has a presence in the countries you’re interested in hiring from. There are 195 countries in the world, and it is unlikely any EOR has legal entities in every single one of them!

If you hire contractors instead of employees, you are more likely to be able to engage with those individuals directly. However, you’ll need to make sure the worker qualifies as a contractor rather than an employee. Typically, this hinges on the degree of independence the contractor has in their work. If the law decrees an employee was misclassified as a contractor, it could result in stiff penalties and fines. Regulations on contractor classification also vary by country, so do your due diligence on the applicable laws.

2. Update Your Technology

Hiring remote workers abroad means that you’ll need to rely on efficient and stable technology for business tasks. Ideally, your computer programs should be in the cloud to enable easier communication and sharing of information. Cloud-based software also makes it simple to allow and restrict access as employees onboard or offboard.

If you’re not using cloud-based programs, you’ll at least need to make sure to have a secure way to transfer information. Sending sensitive data via unsecured email is risky. Not only is the information at risk of being intercepted, but it’s easier to have multiple copies of data zipping around. That can lead to confusion as to which version is the most current.

So take stock of your current setup and see whether different software or processes could increase security or efficiency. Getting those processes upgraded to allow for international hires might even increase the efficiency of your local workers.

3. Reassess Regularly

If you take the plunge and engage with international employees or contractors, you’ll want to make sure the decision pays off. At least once a year, run the numbers to make sure the balance of expense and work accomplished is beneficial to your company. If international hiring hasn’t provided financial benefits that are sufficient to justify the endeavor, you might discontinue — or at least pause — the initiative.

If global hiring has proven effective, you’ll still want to regularly assess whether the countries you’re hiring from are the best choices. There are numerous reasons to do so. Certain countries require minimum pay that may not justify hiring employees there. Or you might need to find workers from a country with better mastery of the English language. Finally, your EOR may add new countries to its roster, presenting additional opportunities.

Aim to get your international workers on the same review schedule as your local employees. Just because you don’t see them in the office regularly doesn’t mean you can just forgo regular performance analysis. You’ll want to check in with any local team members your global hires interact with to ensure their work is being completed satisfactorily. Providing international employees feedback and assessing their performance gives them the ability to do their jobs better.

Alternatively, if your global team members are underperforming, you’ll notice it much sooner if you check in regularly. If you don’t catch errors and omissions until major consequences get brought to your attention, your review processes need to be updated.

Check Out Global Talent Options

Part of building or maintaining a business is keeping an eye out for opportunities. If international hiring might provide the opportunity to cut expenses or increase efficiency, investigate whether it could benefit your company. With the availability of modern third-party administrators and tech advancements, the world’s workforce has become more accessible.

So whether you want to open up your applicant pool or just cut some overhead costs, remote hiring is something to consider. Putting global hiring into practice might just be easier than you think.

The post 3 Ways to Make Global Hiring a Reality for Your Small Business  appeared first on SmallBizTechnology.

Here are the four most prominent KPI examples are:

1. Customer Satisfaction
2. Employee Satisfaction
3. Internal Process Quality
4. Financial Performance Index

Other places exposit that there are 11 or 12 types of KPI, here are three of these as follows:

1. Quantitative Indicators that Can Be Presented with a Number
2. Quantitative Indicators that Can’t Be Presented with a Number
3. Leading Indicators that Can Predict the Outcome of a Process

When targeting KPIs for your business, it is important to keep in mind the idea of what metrics matter most to the business you’re operating. Generally, KPIs that focus on time and finance budgeting include variables for all businesses to focus on.

• What is the Estimate Time for Completion
• How Much is the Actual Cost for Project Completion

These both stand as Project Management KPIs. Set with keeping things to task and focused on the actual campaign itself as the starting hub. With all questions answered intent on responding to that. Additionally, others focus on Human Resource KPI and monitor things like:

• Total Revenue Per Employee
• Employee Satisfaction Index

Another big KPI metric falls under Financial KPI.

This is the bread and butter for a lot of major companies looking to set themselves apart and stretch their margins. Financial KPIs include:

• Profitability KPIs
• Liquidity KPIs
• Efficiency KPIs
• Valuation KPIs
• Leverage KPIs

These smart KPIs examples allow for growth and to make sure a company holds itself to tasks. However, the KPI itself potentially sets barriers to entry that make it harder to acquire success if it adds that restrictive cap.

The post How to Define Smart KPIs Examples and Milestones: What the Experts Say appeared first on SmallBizTechnology.

The online phenomenon jumped from a predicted range of a respectable, albeit mere 17.8% of the global market, into a 5.5 trillion behemoth of 21% as of 2022 with even higher projections including a 14.7% compound annual growth rate from 2020 to 2027.

Thus tapping into the eCommerce market has never been more accessible and yet, technically never more saturated. However, there are several ways to best target your market and disseminate your product and message to the many potential-adoring fans around the planet.

Beyond choosing a product, getting a domain, and setting up a website there are several key components on each that will lead to a subset of answers. Here are some of the best eCommerce platforms for your startups.

For example depending on your experience level then selling should be moved from platform to platform to set up your online business. Seems straightforward but given varying degrees of internet savvy and business acumen this can greatly vary where you fall on that x,y graph.

Shopify

In recent years Shopify has become the ideal startup site to launch your store into an online market space. It has incredible capabilities and can be tailored toward numerous business ventures and ideas. The web setup is easy and intuitive, which takes much of the guesswork and time out of the process.

Beyond the web drag-and-drop builder, there are opportunities that allow the store owner to connect apps to their store. This can be used to improve functionality and connect new features to the website. Additionally, you can sell digital products, physical products, dropshipping, and more. Even subscription plans are an open market for Shopify.

There are three main plans Lite, Basic, and Advanced totaling $9, $29, and $299 a month. The “Lite” plan allows for increased sales functionality to be run through an existing website or blog. The “Basic” plan allows for a totally new store/site to be built from scratch via the platform. The “Advanced” option allows for cuts in transaction fees, adding more staff accounts (5+), and can serve with improved shipping rate calculations.

Squarespace

Squarespace is a web-building platform that boasts a heavy visual component. There is a wide range of editing tools and software that allow for greater editing power and site impact. Additionally, Squarespace is one of the few platforms integrating CSS editing into the software allowing for unique, custom edits to be built into the site itself. Thus changing the site’s composition greatly.

However, there is currently limited app integration available to Squarespace presently, which makes diversifying your business as well as scaling a major issue on the site. Unlike Shopify however, Squarespace permits more realized capabilities more readily with its lower plans. Allowing more rapid ascension to the site’s full potential.

The pricing plans for Squarespace sit at $16 – Personal, $23 – Business, $27 – Basic Commerce, and $49 – Advanced Commerce respectively. Most features unlock at the Business Level, ($23) except it still maintains a 3% transaction fee.

Wix eCommerce

Another heavy hitter in the site building market, Wix has in recent years, built itself into a reputable eCommerce platform juggling its trademark ease of use and intuitive features with an integrated AI that focuses on optimizing your website.

While currently, there is a limited set of capabilities as far as the range of sellable items, the galleries and image capabilities of Wix match most online platforms. Given the ease of use of the site as well as its optimization features, Wix eCommerce can provide an initial edge to any business not looking to invest or spend the time to ruminate over their web’s design.

To get access to Wix eCommerce you need to upgrade beyond a typical Wix plan into a business-worthy plan, think along the lines of their “Unlimited Plan” – $22, their “Basic Business” Plan – $22, or “Business Unlimited” Plan – $32. There are other plans, but these are the cheapest and easiest for the fledgling business.

BigCommerce

This is the most scalable site constructing service which is why it is one of the best eCommerce platforms for startups. When you ultimately take your business online you need a platform that can allow for that huge growth. This means whether for rapid, short-term acceleration or for a more drawn-out metric of time.

BigCommerce, while less known than others on this list, is that site. BigCommerce is a fully integrated website builder, which means you do not have to worry about plugins as you may on other sites. This allows for the ultimate results in freedom and functional capacity. It does still, of course, offer apps for integrated actions if desired.

Like nearly all of its peers, BigCommerce has four tiers to its plan. The first tier is the simple Standard Plan – $29.95. Similar to Shopify. The next plan is the plus plan – $79.95 per month. After this, the plan is the “Pro Plan” at $299.95 monthly. And then the “Enterprise Plan” which like many others requires contacting BigCommerce for a specified quote. These prices are a little high but fall almost directly in line with Shopify. Plus, they follow a similar tier structure to nearly all other site programs.

Square Online

For the offline store moving toward an online market, Square Online is a natural choice. This site can automatically sync both online and offline orders and inventory. Small business around the world similarly uses their price syncing technologies to once again have a natural ease of transaction and commerce flow.

Of course, it still offers the option of an online store builder. With regards to this, the website designer offers all the typical features. These include blog capabilities, a customizable storefront, and customer service options.

The prices run far simpler and more competitive with three tiers: “Free” – $0, “Plus” – $29, and “Premium” – 79 USD. This is right in the typical sweet spot for this type of site and the free plan can offer the new user familiarity with the basic software and a solid buffer before they decide to up their game with a paid plan.

Branchbob

For many, price and presumed knowledge stand as the main barrier to entry among the considering entrepreneur. That is where Branchbob comes in as another best eCommerce platforms for startups. It is one of the sites on this list that is completely free to use and offers basic, simplistic features that are intuitive and easy to learn and pick up.

Again, no monthly pricing or transaction fee exists. The only billing occurs if you want to increase Branchbob’s features and capabilities. This of course extends to website themes. Overall Branchbob stands as a fundamental transaction site between the business and the customer. It also allows budding businesses with limited capital to break ground in the eCommerce market.

The post Best Platforms to Sell Products for Your eCommerce Startup appeared first on SmallBizTechnology.

Running through the entirety of the process in your head can help give some much needed footing to an otherwise extremely stressful and nebulous process. Let’s break it down.

Does Your Business Need A CFO?

The first and most important point for filling a Chief Financial Officer is finding someone who fits with your company and understands the vision, but also the constraints. Do you need a full-time CFO? Can someone else in the company handle the task? Or can the task be split up amongst several employees without pulling them away from their other work?

If it’s a clear yes, we need a CFO, then proceed. Is there enough work present to warrant a full-time position? If not then look into part-time employment or firms with outsourcing capabilities. If yes, then once again, proceed.

Where to Look For A CFO

Odds are there is a fully capable CFO out there in the industry right now. Watch the industry and look at similar businesses in scope and/or size. The industry itself is the field where you’ll find your ideal player when hiring a CFO. In recent years online communities have started catching wind of everything – including CFOs. Integrate with these forums to help not only keep an eye on the space but to also meet plenty of high-value finance-minded individuals.

From there use your connections. Networking and presenting opportunities is a great way to sift through all the numerous options and locate the individual you need.

What to look for in a CFO

In short, a great financial mind, with an incredible industry sense and the communicative skills and leadership ability to help steer those decisions for your company.

A Chief Financial Officer needs to have an array of skills to properly handle the role to its fullest and drive your company along the right track. Firstly, a great CFO needs to know the ins and outs of your industry. A CFO needs to have a depth of that knowledge at the ready and have their hand on the industry’s beat. Taking all this into their perspective and turning out keen observations for the company’s position in the industry.

Beyond leveraging their premiere opinions on topics of the company’s financial wherewithal, a good CFO needs to be a communicator. Need this be explained? And then there’s leadership. Shouldn’t need to explain that one either. Strong leadership drives a project forward while great communication steers it.

However, to extrapolate on these several paragraph’s essential thesis: The CFO’s role is the critical engine that informs all matters of conductible business. The CFO drives many of those initiatives. During the interview process, it’s necessary to see these qualities on display. Ask them about their experience.

It is during the interview process that your company will be able to test and question them. Doing this will give you a more fleshed-out understanding of the depth of their communicative skills. In addition, the “in moment” aspect of interviews presents a perfect opportunity to ascertain the nature of their problem-solving skills.

Lastly, is there a mutual cultural fit when hiring a CFO? You are highering this individual to lead your company. Not just the resources but your people and the driving mentality and approach your employees themselves are employing. The thoughts behind the employees and the administration are in effect the company. And all work comes off as a byproduct of that.

The post Hiring a CFO: Best Practices for Making a Good Hiring Decision appeared first on SmallBizTechnology.

The lean startup essentially purports a product that has an already existent demand. It’s a method that launches either a product or company typically on behalf of another product or company. Think “lean.” This is a company that’s not coming with the bulk trying to muscle through. The lean startup is a product that people have an already expressed desire for when it drops. The company knows this desire is there, ergo making it a substantially safer launch.

Also, this is the most critical point: the lean startup is the consumer dictating what types of products they are offered by their respective markets. Not the markets dictating the products the consumers will receive.

Basic Parts of a Lean Startup

The basic tenets of the lean startup are to build, measure, and learn. They are instrumented on hypotheses and are largely similar to the scientific method they are tested against for optimization. The idea is to target a highly specific area or segment with a very discerning eye on their particular needs. Then provide the service or product and see what the consumer opts toward in practice.

Lean startup examples include Dropbox, Zappos, and General Electric. All of them floated an initial hypothesis only to measure the success and perform new iterations. General Electric has even developed a program called, “Fastworks”, with Eric Ries the “Father of the Lean Startup” to create iterations on some of their product launches. With some products even going through 18 iterations before hitting the market. Optimization at its finest, targeting an incredibly well-realized product.

Below are three more lean startup examples, written in a far greater depth about the nature of their work and the proximity toward lean startup principles.

1. Slack

Slack was a lean startup, pre-built for a different intention, tested incrementally over time.

Sometimes things do not go as planned. Your company can crumble, people go awry, and so on. However, it is often in the darkest shadows, the faintest light shines brightest. Originally, developers build Slack as an internal communications software built for TinySpeck. TinySpeck had the aspiration of creating a multiplayer online game boasting a subscription model. Called Glitch, the game itself launched in 2011 only to fall back to beta production a year later.

However, offices responded incredibly well to their internal communications software, allowing for TinySpeck to begin offering trials to external companies and receiving feedback. Thus testing the demand in the market. The response was phenomenal with feedback from larger companies being instrumental in the growth of the software. After several iterations of the app and allowing nearly universal access the company is credited around 27 billion USD.

2. Buffer

A soft-sold product. Partially tested and partially invested. Yet, it is another one of our lean startup examples.

Founded by Joel Gascoigne and Leo Widrich, Gascoigne created Buffer in roughly about seven weeks. Gascoigne had read the work of Eric Ries and decided to subscribe to his ideas of the lean startup methodology. Widrich established a landing page that effectively floated the idea to potential customers.

So, the two opted to see if people could become invested in the idea of a social media planning service. While only around 18 of the nearly 190 investors they talked to were interested in the prospects of the company they secured roughly 800,000 dollars and were able to continue moving forward with their plans.

3. DropBox

The poster boy for the lean startup.

Okay, so I kind of lied. We’re going to go back and talk about DropBox again. Drew Houston created the startup. Many also know him as the man Forbes quotes as the entrepreneur who “Out-Steve Jobs’ed Steve Jobs”. Explored in greater depth by the mac-daddy of the Lean Startup itself Eric Ries, this article details the nature of Ries’ ordained “MVP” (minimum viable product).

An MVP essentially means a product that has enough features and aspects that it attracts “early adopters” as customers and is validated as a product early in its development cycle. So, this is where the lean startup comes in. It can be tailored toward consumer demand as massive interest is raised early in the product’s life cycle. This is also where the comparison to Steve Jobs is raised –  think of his classic pitches to excite people for products.

The idea is that by having the product be the bare minimum idea it allows the consumer market to start shaping and tailoring it to their whims and optimize the product to reach the highest potential demand. This is what DropBox did. By hallmarking the idea to instantly copy and share numerous files across devices, regardless of size it allowed the project to tweak and grow into a tech behemoth with over 250 million in funding.

The post What Is A Lean Startup: Three Good Examples appeared first on SmallBizTechnology.

1. Calculator

An old trusted stand-by. Whether it’s measuring the total boards you’ll need to offset every foot or 16” (given if it’s load bearing), or rather you are trying to calculate the dimensions for the countertop you’re putting in and want to calculate potential expenses for the slab by the square foot. You need a tool to run those numbers. It seems simple but it’s the most necessary. You’ve got one pre-installed on your phone. It lives in settings. Trust me, you will be using it.

2. Measure

Another free app just came knocking. However, this one is a little less well-known and that is a travesty. Measure, just like Calculator comes preinstalled on iPhones and has two key features. It will automatically measure based on points. It uses augmented reality (AR) to graph out and measure objects simply by dropping points. The app then spits out a calculation for you.

Also, it works as a level. Both side planes are like walls or boards or those pesky flat planes. While not necessarily as ideal as a traditional level or tape measure, it is ready to go and almost always on hand for a quick and sound measurement.

3. Hubstaff

Another best app for contractors is a GPS tracking app that lets everyone know what is happening during those work hours. In construction, managing a team is hard enough, especially when managers and team leads are often required to move between their own projects, different jobs, and workers.

Hubstaff keeps you informed on how construction teams use their time in an easy, automated fashion. With this application you can:

• When They’re Clocked In, You Know Where They Are
• Time Track and Attendance Schedule
• Set Geofenced “Job-Sites”
• Payroll and Invoice Tracking

4. PlanGrid Build App

Built for the mobile architect this connects design and construction on a free mobile hub in your palm. It allows for updates to be present in real-time as well as the seamless integration and syncing amongst software. You can build, alter and draw on plans or blueprints.

It is a highly regarded five-star application, that once again is completely free.

5. Solocator

In both construction and maintenance, it isn’t always so much “Houston, we have a problem.” But rather, “Houston, where is the problem?” Solocator can help with that. There have been plenty of times when you hear there is a particular problem, in a particular room but you can’t find exactly where or the directions are bad. Solocator stamps photos with dates, times, directions, GPS data – that’s right cardinal directions, and apparently even altitudes.

For those requests, it waves the need for a detailed description and instead places the information on the photograph itself.

6. Autodesk BIM 360

Another great app for contractors is this program keeping everything to a task. This is yet another cloud integration software that focuses most heavily on connecting all the different pieces and people working on the flow of a project. It is an open platform meant to be integrated with the construction software that is already being used by all the different individuals working on the project. This way there is no need to get anyone to transfer to new software and keeps parts connected saving time and money with its open efficiency.

7. FingerCad

FingerCad is essentially a Computer Assisted Design program aimed at the mobile-minded. It features all the standard CAD software elements, you can draw things, you can build blueprints – anything you could do on a computer. While this is more often for an architect than a contractor, it could be easily used by the small-time contractor just breaking into the game and doing a lot of the leg work solo.

8. Fieldwire

An integrated cloud-based up that has limitless data and does not require an internet connection for partial usage. It has messaging software, drawing editing, and overlays. You can sink things from DropBox to add new images. Everything can be done live. Additionally, files, photos, videos, and 360 images are open to being added to the plan. Meetings, sight observations, and meetings can also be added and touched on within the app.

The post 8 Best Apps for Contractors appeared first on SmallBizTechnology.

What is Mail Merge in Word? Mail Merge helps you create a personalized batch of documents for a given recipient. Emails, letters, envelopes, directories—Mail Merge covers all of these. It works by amalgamating data and automatically placing it in the appropriate location.

It does this by using “merge fields.” These fields go even further than mere location placement, by ordering the information in the proper places as well. 

To do this you will need to choose where you are pulling the data from. Most commonly it is pulled from either a Microsoft Excel spreadsheet or an Outlook contact list. However, while these are the most common, any database that can be connected to Microsoft Word will work as a source. If you do not yet have a pool from which to pull the data you can type it up in Word.

Each process is fairly streamlined, and follows the same general procession however here are individual links to each:

• Letters
• Directories
• Email
• Envelopes
• Labels

Beyond this, the personalization allows for an extra air of professionalism and when done in bulk as demonstrated can save copious amounts of time in the administrative backend.

Let’s walk through this process for “Letters.”

1. Prepare the Letter

In general, the process begins when an individual opens Microsoft Word and goes to “Mailings.” From here the new “Mailings” menu bar will appear below. In this bar will appear a button near the front-left corner: “Start Mail Merge.”

Here you can pick between the paths of Letters, E-mail Messages, Envelopes, Labels, or Directories.

For this, you will select “Letter.”

Now go type the body of your letter in the Word document. This will be the letter that you send to your mailing list. 

1. Set Up Your Mailing List

Your “Mailing List” is the data source that Word uses to compile the information that it will use to fashion your individual letter.

Here are potential data sources for you to implement in your “Mail Merge” experience with Word.

You can edit your mailing list as well if you want to be more particular in your mailing selection.

1. Add Personalized Content Within Your Letter

Go to “Mailings.” Look for “Address Block.” Here you can change the format you want the recipient’s name to appear, specifically find this in the “Insert Address Block” box.

From here choose “OK.” Then continue by navigating back toward the Address Block option. Next to this button, you should find a “Greeting Line” option. By clicking on this a similar box will appear and you can select the style of greeting line you would like to use.

Click “OK.” Now would be a good time to save as well. (File > Save).

1. Preview the Letters

Go to “Mailing.” Then “Preview Results.” Choose either “Next” or “Previous” to make sure the data is appropriate and names are thus, apt.

Selecting “Preview Results” again will switch you back to your merged fields from your merged file. 

1. Printing the Letters

Select “Finish and Merge”, then “Print Documents.”

Here you can choose to “Edit Individual Documents”, “Print Documents”, or “Send Email Messages.”

While the minutia of each field is particular to the medium’s nature, nearly all fields function similarly in Word. By the simple approach of individual personalization to a mass disseminated letter, or the filings of subsets of labeling. 

The key takeaway is to have an established database. By doing this you will be ready to approach Word’s “Mail Merge” feature readily, without any time lost. Beyond this, having the substantive text ready for whatever you are pushing through the Mail Merge feature can also ensure limiting any spare time that may get lost in the projects.

With these two areas closed, the time saved within the process is extreme and more than beyond checking out or learning the experience of.

The post How Use Mail Merge in Word appeared first on SmallBizTechnology.

This is the purpose of branding is to create that necessary distinction between you and the person working for that same industry dominance. The brand isn’t what you sell or what service you’re offering. Branding is how you sell it. The nature behind that comes to embody the idea of the company itself.

For a small business however intent on saving money and time, using creativity within the packaging itself is a surefire way to distinguish your identity. There are five ideas a small business can use in its packaging that can give them the edge.

Branded Box

Technically a branded box can be as simple as a logo, stamped on its side. Simple but necessary. This is “the box.” It is the first physical interaction your customer will have with your brand. It captures and notes the pedigree and offers waves in the total product experience.

While the customer orders the product and has some general idea of what to expect the customer rarely has a clue about what to expect with the packaging. By getting this right, the brand itself is taking one last chance to affect the customer’s expectations before the final point of product acquisition. This is very powerful stuff.

Thank You Note / Custom Internal Packaging

While the box’s outside offers a formal introduction to the brand and product, the inside is the point and purpose of the purchase. By branding the internal packaging/tissue, you are offered an opportunity to once again separate your brand.

A thank you note sent with a product offers grounds for a more intimate experience personal to your brand. By presenting what is there as higher, greater, and better. You can often have your product deemed as such. This assists with your product’s merit. When your product is as much your brand as anything else it’s key to keep in mind: packing peanuts are dead.

How the Box is Packed

This offers an entirely different dimension the brand interaction. This is experiential and very low cost. While it may not equate under the “one-size-fits-all” mentality, it offers an edge to the meticulous side of the growing small business.

Just based on how a box is organized, can create an opportunity for an experience for the buyer. It’s the “a-ha moment.” The big reveal. It’s Hitchcock’s bomb under the table. In essence, it’s the first impression after a long point of anticipation. All that build-up hinging on a split-second reveal. The highest and most critical single point in deciding a customer’s feelings on your brand.

This is clear from all the numerous “unboxing videos” brimming across YouTube. Turn the mandatory waiting period from shipping into a weapon at your disposal. Play off of your buyer’s anticipation and excitement and you have an opportunity to turn an impressionable moment into a lifetime of support.

Freebies

A little extra. The transaction is in essence the mobility of value from one entity to another. This is an opportunity to give them that little extra value prematurely. It shows good faith, and if it’s branded properly can serve as a self-contained advertisement put straight into the hands of someone who enjoys your brand. Here are some common freebie ideas:

• Stickers
• Magnets
• Shirts
• Tote Bag

They all come on their own scale and level, obviously tied to their own cost and presumed benefits. Regardless this offers a guaranteed through line for whatever is decided to be put in that box. The closer it is tied to your brand the more clever, and often more well-received it is.

Fully Custom Packaging

This is it. The full amalgamation of everything. Besides the layout of how the box is organized, this is the only other way to truly craft an experience for your customer. Especially when considering that this is an opportunity that can raise brand standing. Essentially, this is the whole being greater than the sum of its parts. By means of what the box has printed, the materials it is made out of, how it’s laid out for the merchandise to be removed, and so on. Here are several examples a company can play out in fully custom packaging.

• Brand Colors
• Packaging Material
• Packaging Shape
• Product Layout (which will be removed first)
• Notes/Freebies/Asides
• How the Box Opens

And the list goes on for small business packaging ideas. Just as each website has a generally similar design, but remains completely unique in its forte and experience, so is your brand’s packaging. It is an opportunity to play with brand expectations and product and use the presentation to become more in the eyes of your customer than they were expecting possible. All with the built anticipation and elements of subversion and surprise.

The post 5 Examples of Creative Small Business Packaging Ideas to Inspire You appeared first on SmallBizTechnology.

People use Jotform every day, especially our solopreneurs and SMBs who use Jotform to manage data, including customer information and sales. People use Jotform to cut down on administrative time and speed up processes. For instance, prior to Jotform, one of our customers used to use Excel spreadsheets to keep track of customer orders and information, and doing so was tedious and time-consuming. When the pandemic hit, their business needed to scale quickly, so they began using Jotform to digitally transform business processes and scale to keep up with an influx in sales.

Q: What are the different ways in which Jotform assists small and medium-sized businesses (SMBs)?

Jotform helps small and medium-sized businesses scale operations by helping them digitally collect, organize and visualize critical data/information. No longer do people have to manually input data collected over the phone or in person. And it all starts with the online form.

Q: Tell us about Steve Hartert’s, VP of Sales Operations at Jotform, background.

I’ve been at Jotform since 2016 and have worn many hats. I have decades of experience in sales and marketing and received my MBA from Cal State Bernardino.

Q: How does Steve see inflation and supply chain issues impacting SMBs for the holiday season?

SMBs and solopreneurs are expected to see a massive influx of sales of products and services this holiday season, which is great but inflation and supply chain issues are still creating challenges for businesses. Online shopping continues to grow at a rapid pace and consumers see online as the default, and brick and mortar as secondary shopping options.

Q: Is there anything SMBs can do to work through these issues and optimize their businesses and sales?

To help manage inflation and supply chain issues, SMBs and solopreneurs should look for tech that can help them streamline business processes that quickly fit into workflows, and also boost productivity and cut costs. For instance, with Jotform, SMBs and solopreneurs can scale sales. They do this by expanding online and using online forms to collect orders and manage data. They can also manage customer information with our Tables feature and collect signatures using Sign.

Q: What else would you like us to know?

Jotform is a non-stop shop platform that SMBs and solopreneurs can use to scale sales and operations.

Move everything online to boost productivity and cut costs spent on administrative time. It starts with an online form that customers fill out. But from there, SMBs and solopreneurs can stay organized with the data collected using Jotform Tables and can keep track of orders too!

The post A SmallBizTechnology Interview with Jotform and Steve Hartert appeared first on SmallBizTechnology.

One of the best ways to open up the doors for delegation is by helping a small business owner see the value that comes from offloading a job onto someone else. This is particularly true when that task has to do with keeping up with the complicated and overwhelming world of human resources.

What Is Outsourced HR?

As the work world becomes more interconnected through technology, HR professionals are seeing their responsibilities increase in complexity. One of the most obvious examples of this is remote work.

As businesses great and small hire across international borders, it opens up a Pandora’s box of regulations and compliance concerns. A common solution to this challenge is to outsource the HR responsibilities associated with those new hires. Also called human resource outsourcing or HRO, outsourced HR involves passing HR functions off to an independent third-party provider.

Depending on the situation, you can farm out either all or a portion of your administrative HR duties to outside entities. The global HR solution specialists at Remote point out that outsourcing HR can have other nuances, too.

For instance, a company may need to choose between an EOR (employer of record) or PEO (professional employer organization) to efficiently navigate HR requirements in another country.

While it does take some work to set up, outsourcing HR can offer small businesses several key benefits, especially when it comes to efficiency.

6 Efficient Benefits of Outsourced HR for Small Businesses

Here are a handful of the most important ways outsourced HR can benefit small businesses, despite their limited size, time, and resources.

1. Keeping Up With Regulations

HR is a regulation-heavy field.

However, it doesn’t just take time to grasp all of the rules and compliance concerns that come with hiring and retaining employees. You also need to invest significant effort into keeping up with those standards and requirements. Outsourcing HR takes that ongoing burden off of the shoulders of a small business’s employees.

2. Cutting Costs

One of the most obvious advantages of HRO is that it saves money.

The cost of hiring a full-time HR professional is significant. ZipRecruiter estimates the average annual U.S. HR salary at over $66,000. Working with a third-party provider gives small businesses access to the same skills and services at a fraction of that price.

3. Freeing Up Precious Time

A small business owner may decide that they can get by without a full-time HR professional on staff. In fact, that’s often the case.

But the truth is, whether you have a human resource rep on your team or not, someone is going to need to spend time tending to that part of running a small business. Outsourcing HR frees up significant quantities of time that can be reallocated to more productive activities.

4. Better Retention

Chairman and CEO of Lyons HR, Bill Lyons, emphasizes the impact that HRO can have not just on upfront efficiencies like payroll and administrative costs. He also points to retention as a quiet-yet-critical way outsourced HR can revolutionize a small business’s efficiency.

When a small business works with a third-party provider, it can provide higher-quality HR services to its employees. This helps them feel valued and well-compensated for services, leading to improved loyalty and retention, both of which have a direct impact on efficiency over time.

5. Access to Better Talent

One subtle way outsourced HR can improve small business efficiency is through access to better talent.

When you use an HRO partner, it gives you the confidence to recruit the best individuals for your team. This is true no matter where they’re located or what complexities come with hiring them. This sets up a much larger talent pool, helping you build a better, more efficient team.

6. Help With Scaling

As small businesses scale, their HR needs grow, as well.

Typically success comes with more hires, a larger staff, greater compliance and regulation concerns, and so on. When you have an experienced and knowledgeable HRO partner, you can address these needs without spending unnecessary quantities of your internal staff’s precious time, effort, or resources.

HR is a necessary part of any small business. It’s also a complicated and evolving field that requires professional attention.

Small business owners can cut through their organizations’ HR inefficiencies (and at the same time keep costs down) by passing off ongoing HR needs to an outsourced HR provider. The result is a leaner, meaner operation that can maintain quality and onboard better talent. Consequently, they can effortlessly scale internal operations when the time comes.

The post How Outsourced HR Can Help Make Your Small Business More Efficient appeared first on SmallBizTechnology.

Complicating matters is the fact that every customer or applicant has a unique financial situation.

Some have easily verifiable income from a traditional employer. But you’ll find others don’t have a simple, streamlined source of cash flow that pays their bills. A handful of clients may be self-employed. Others might rely on freelance work in addition to a traditional job. And then, some will receive income from relatives, government benefits, pension plans, or other investments.

While complications may sometimes slow down the income verification process, new technologies can make it more effective and efficient. Verification solutions that sync with payroll providers and let customers upload their documents represent a few examples. Here are some successful means for verifying customer income sources and amounts.

Use income verification technology.

Software programs can make just about anything more efficient. This includes organizing and verifying all the documents loan applicants must provide. Applying for a car loan or credit card might be less complex than a mortgage. However, lenders still need to verify an applicant’s credit history and income.

That’s where things can get sticky for lenders and creditors that have to either approve or deny an application.

Anyone can say they make so many dollars a year, but that doesn’t mean they actually do. Lenders don’t want to approve someone for a loan or a line of credit if they can’t comfortably afford the payments. They’ll either repossess a secured asset like a vehicle or write off the debt if it’s unsecured. It’s not a good outcome for either side.

Income verification technology, such as Truework, helps lenders confirm a customer’s income within a few minutes. Since these solutions connect to many employers’ payroll networks, it’s more difficult for applicants to fudge the numbers. Some income verification solutions also verify freelance income from popular independent contractor platforms like Upwork. This saves applicants time hunting down bank statements and pay stubs.

Consider government-run verification services.

When approving applicants, mortgage lenders have their work cut out for them. Without a doubt, a home loan involves more risk since property ownership goes back to the bank if a borrower defaults. Real estate markets can sometimes be fickle, and lenders might lose money when auctioning off a foreclosure.

For these reasons and more, mortgage applications go through underwriting and a high level of scrutiny. That usually means two years of tax returns, W-2s, and bank statements for savings, checking, and investment accounts. Clients may also need to fork over other loan statements or documentation if the amounts are significant. These obligations might include student loan balances or other loans they’ve cosigned.

Because of the level of complexity involved, mortgage lenders may want to consider using the IRS’s income verification express service. The process usually takes two to three business days, but the technology helps put any questions to rest. IRS records can verify an applicant’s income from conventional and not-so-traditional sources. Plus, the service confirms whether a mortgage client’s tax returns are accurate.

Outsource manual income verifications.

Technology can automate and perform a lot of tasks. But sometimes, using tech isn’t possible, or it isn’t the most feasible solution.

In some cases, you may have an applicant who earns income from an employer that doesn’t use a payroll provider. The employer might be a small business that does payroll manually. Your borrower might have also switched jobs within the past year, and a previous employer is no longer in business.

In these cases, manual income verification is one of the only routes to take. As a busy landlord or lending department, you don’t have time to play phone tag or hunt down contacts. This might be okay if you only had one applicant to deal with. However, you receive applications nearly every day, and the work it takes to verify all the details adds up. Manual verifications are challenging to keep track of and follow up on.

By working with an income verification service, you can outsource those tasks.

Verifying customer income solutions sometimes provide manual confirmation services so you can focus on other aspects of your business. Your vendor handles the phone calls to HR departments and employers. They focus their efforts on confirming an applicant’s previous jobs and earnings, producing results faster for you and your customers. You can make decisions within days instead of weeks.

Efficient and Effective Income Verification

Verifying customers’ income is part of the job for property management companies, lenders, and some government agencies. In a less intricate process, income verification may only involve checking a W-2 from one employer.

However, most lenders and landlords deal with more proof and documentation than that. Complex and unique situations can slow down the process and cause frustration for all sides.

Income verification technologies and services make confirming a customer’s income more efficient and effective. Software that syncs with payroll providers, IRS services, and outsourced manual verification services helps remove obstacles and mitigate delays. Using these technologies and services creates better experiences for applicants and decision makers.

The post How to Effectively Verify Customer Income appeared first on SmallBizTechnology.

Software and Software Developers for Business Protection

You can be on top of all aspects of business operations, but if you’re not taking measures to protect your business, you may be at risk.

• Cybersecurity tech. According to Savvy Security, you can prevent malware attacks and cyber security breaches by ensuring your business is set up against all kinds of risks.
• Project management tools. Trello and Zoho help users by keeping responsibilities, tasks, and events in one place. This can help prevent silly mistakes that may cost the business long-term.
• Payment tools. Platforms like Stripe and PayPal help process payments while offering user protection and security.
• Outsource software developers. Many businesses utilize job sites to hire freelance cybersecurity specialists tasked with developer resources. So, if you are tasked with developer resources, start by reviewing software developers online, then select a few for interviews to gauge their level of expertise.

Tools to Support Your Backend

An optimized and efficient backend also means a well-oiled business machine. Here are the best backend tools to invest in.

• HR management. HR management tools like GoCo offer payroll advantages, shift scheduling, and more for employee management.
• Accounting software. Software like QuickBooks Online is favored by small businesses as it tracks expenses, income, claims, and invoicing.
• Communication and collaboration. Microsoft Office 365 is an excellent option for file sharing, instant chatting, and calendar organizing.

Tech for Marketing Your Business

Also, marketing your business is critical for increasing brand exposure and boosting sales. Here are some tech resources to help with marketing.

• Logo designer. A cohesive logo can help increase brand recall and identification. Likewise, use a free custom logo design and download tool to create a logo easily.
• Email marketing. A provider like MailChimp helps keep your email subscribers up to date on special offers, promos, and business happenings.
• CRM software. Additionally, customer relationship management tools like HubSpot improve engagement and employee relationships.

So, are you ready to start crushing your business goals? If so, these tech tools will help! Start leveraging the power of tech to boost productivity, operations, and of course, revenue for business success today!

The post Tech Resources for Business Success: How to Get Started appeared first on SmallBizTechnology.

Optimization is about creating the best version of something, which is exactly what companies strive to do each day. With software optimization, companies can achieve their best version for their customers. This is in an effort to not only gain more customers in the long run but to enhance growth within, typically by using automation. Producing what consumers want at their desired speed is a high priority within any business. That desired speed will always be fast.

Software optimization creates a space for companies to put the behind-the-scenes hard work at the forefront of their brand. This showcases the growth earned through the front end of the website or business.

Setting Your Sights on Growing Your Business

Similar to how no two companies are the same, the many aspects of a business that software optimization can impact allow companies to pick and choose what they most need to focus on.

Due to this, it ultimately helps to have a plan in place. This prioritizes what areas of growth are crucial for your business to see lasting success. Software optimization is a way to stay on top of these areas, making business expansion a top priority.

1. Debt Optimization

The steep competition for borrowers between traditional and non-traditional financial institutions creates a need to provide end-to-end consumer and mortgage technology. Credit unions, banks, and mortgage lenders rely on optimization tools to achieve growth and involvement, which is why digital lending leaders like MeridianLink focus on debt optimization.

An automated process for not only keeping track of previous debts but understanding if loans are an option is something that can be used as a relationship management tool between consumers and financial institutions. The optimization process creates an avenue for consumers to qualify for loans that they may otherwise have never known they qualified for. Or would have never been able to qualify because they couldn’t keep track of everything through an automated process.

By including relationship management in software optimization, financial institutions can more easily create plans to better care for their customers. Looking into debt as a whole rather than one number will open up avenues to debt management through optimization, seeking consolidation, or refinance options while tackling debt.

Staying on top of debts and loan opportunities can create better credit for customers and again foster a trusting relationship. MeridianLink Collect gives the option for a cloud-based program to easily keep track of all debts and shortcomings to stay afloat in the future. Managing debt is crucial to being able to make future purchases, apply for loans, and make payments on past bills. So, the key to managing debt through software optimization is easy-to-use features. With a simple interface, customers are able to learn without a huge learning curve, great for teams and individuals alike.

2. Registration Software

Software optimization doesn’t stop with finance. With any business, including event management and project-based companies, software optimization is needed and embraced. Regpack, for example, uses online registration software with specific databases, making event planning and attending easy for everyone involved, including payment options, scheduling, and product sales. By using registration software, consumers are able to easily purchase products and register for events alone or in a group. They also can purchase add-ons such as protection plans with enhanced security structure and privacy for personal identifying data.

Cancellation is a more viable option using registration software. Even though it’s not optimal for consumers to cancel, having a seamless cancellation process, through using automation, builds a more trusting relationship.

The difference between registration software optimization and a basic registration with an online event is in the details. Integration within your website is seamless and allows for a quick process. A classic pet peeve for consumers is waiting in a queue. Or it’s also having a hard time checking out when trying to buy tickets or register for an event. They are trying to give your company money, but are receiving pushback due to poor registration tactics. Regpack gives options to customize the interface, payment plan, and anonymity, different from many software options that lack customization for the customer rather than only the website’s back-end.

Regulatory compliance optimizes the system for use. It takes into account the client rather than only the business. This once again aids in relationship building from consumer to business. If regulators change something on the website, automation creates transparency for the client. This gives them the added value of trust and compliance with their needs.

Conclusion

Software optimization is necessary to achieve growth in any professional business. From the financial sector to registration with events to everything in between, optimization is a key element to achieving growth and overall success.

The post Why Software Optimization is Necessary to Achieve Growth appeared first on SmallBizTechnology.

The issue is that traditional freight visibility methods tend to be costly and efficient. Logistics managers still have to contend with malfunctions, human error, and unaccountable events. Without tools to manage these factors, you risk losing track of shipment in transit, generating inaccurate inventory counts, and incurring high costs on damages. Maintaining accountability also becomes tricky. 

Fortunately, the shipping industry has benefited from the introduction of state-of-the-art hardware and software into common logistics operations. If you’re new to being a shipper, carrier, or third-party logistics partner, it helps to know how technology improves freight visibility. 

Some of the ways it has accomplished this include: 

• Preventing Overbooking 

Some companies overbook because they accept as many shipments as possible during busy times, like holidays and peak seasons. They may do this in the hopes of maximizing their profits. 

In addition, they may believe that overbooking helps them maintain good relationships with their customers by delivering on time. Unfortunately, this strategy often backfires and leads to delays or missed deadlines for your shipments. 

A load board is the best way to ensure you don’t overbook your trucks and trailers. This technology allows you to see where carriers are going, how long they’ve been in transit, and how far they are from their next stop. This feature allows you to plan your routes accordingly and stick to shipping timelines with ease. 

• Eliminating Cargo Theft 

Theft is a critical reason why you need to track your shipments in real-time. 

The risk of losing shipments from criminal activity is never zero. So, you should be able to follow where shipments go to address incidents quickly and efficiently. If you don’t have access to such insights, you might not find out about incidents of theft until a few days later once it arrives at its destination. As a result, you’ll receive multiple customer complaints and lose the trust your brand has gained. 

Putting transport management systems (TMS) in place is a good method for reducing the risk of cargo theft. For instance, you can use radio frequency identification (RFID) tags to help you monitor every process from loading to drop-off. It allows you to respond to theft attempts before they can fully harm your shipments.

Another easy way to track shipments is by setting up email alerts for each order. This digitalization strategy lets you know precisely when a package will be delivered, so there’s no need for constant check-ins with the shipping service provider or the recipient. This will also allow you to send alerts if a theft attempt has taken place at any point of delivery.

• Minimizing Operating Expenses 

When your company cannot track the location and status of freight, it cannot prevent inventory losses caused by late deliveries. These inevitably cause customer dissatisfaction, dropping your profits and credibility. Besides that, not having an accurate image of your freight inventory keeps you from scaling your departments to support your operations, leading to unnecessarily high labor costs.

Technology improves this by mitigation through vehicle tracking systems. They let you see real-time insights into how your working fleet is operating. With that information, fleet managers can reroute trucks based on traffic patterns to avoid jams. 

Tracking previous refueling dates also enables them to schedule routine maintenance. This feature helps prevent breakdowns on the road, which in turn cuts operating costs. 

• Boosting Customer Service 

If your company has high supply chain errors and delays, you lose more on freight than you gain. The inability to know when items are getting shipped and where they’re going at the moment is a sign of poor customer service and reliability to clients.

But with a global positioning system (GPS) system, you get accurate information about the exact location of your fleet and goods. With these insights, you can send real-time updates to your customers about the status of their products in transit. Doing so assures them you can deliver what they need right on time.

• Reducing Downtimes 

When trucks get delayed at ports or highways due to traffic jams or road accidents, they can hold up other deliveries that are supposed to happen at the same time. This issue results in missed shipments, late fees, loss of revenue, damaged products, and unhappy customers.  

With shipment tracking apps, you can determine minor issues that might cause significant delays in freight transportation. In turn, you’ll gain more control over your supply chain while allowing you to make necessary adjustments in the shipment before they lead to significant losses. 

• Optimizing Shipping Routes 

Shipping routes are the backbone of a supply chain. They determine how quickly your drivers can deliver goods and how soon operations can be completed. If you optimize shipping routes, you can reduce costs and secure the satisfaction of your clients. On the other hand, failing to do so risks your business losing valuable shipments, which could lead to costly losses in revenue and customers. 

With the help of real-time tracking software, you get to optimize your shipping routes by predicting delays and congestion before they happen. This allows you to avoid detours or having to reroute shipments unnecessarily. In addition, this technology improves and gives you access to historical data about different routes. This information can show your logistics team which ones will be the most cost-effective for specific deliveries. 

• Enhancing Safety Standards 

All of these tracking and measuring devices mentioned throughout this article aren’t only meant to secure goods. Their functions also help advance the safety and security of crew members and truckers. By reducing margins of failure, improving work efficiency, and enhancing protective protocols, logistics workers now enjoy better prospects for their efforts. Increased freight visibility has done a lot to improve the way things work, and who else but they benefit the most from this?

Key Takeaways 

Freight visibility is one of the major concerns of the shipping industry today. For logistics firms to succeed, they must utilize the right tools to keep the flow of goods manageable and efficient. Technology improves freight visibility tremendously. By knowing these innovations, you gain a better perspective of how to achieve modern standards of shipping.

The post How Technology Improves Freight Visibility  appeared first on SmallBizTechnology.

Automate Inventory Control When Possible

Selling out of in-demand goods faster than expected can cause numerous issues throughout a business. The situation could disappoint customers, making them decide they’ll look elsewhere to meet their needs. Replenishing the items could take longer than you think, leading to other supply chain hassles.

That’s why it’s smart to look into robotic technology that uses artificial intelligence for better inventory control. For example, some solutions let you set triggers so goods are automatically reordered when inventory reaches a certain level.

Some artificial intelligence platforms can also make inventory-related predictions. That way, you’ll know sooner that something is about to sell out and can potentially react before it does.

Robots can also roam store aisles to monitor how much stock is left on certain shelves. Depending on the size and scope of your business, those may be outside your budget for now. However, they’re good to keep in mind for the future.

Look for Ways to Pursue Digitalization

If you stop to think about it for a second, you’ll more than likely realize that digital advancements have made your business and personal life much easier. Many digital banking platforms allow you to generate reports, and you can check your balance from anywhere.

Making a conscious effort to focus on digital operations will help you set the stage for using robotic technology. For example, there are many compelling reasons to switch to paperless processes.

Some email platforms automatically categorize incoming emails based on their subject lines and senders. Others can recognize key elements in the content and automatically route them to the appropriate person or department.

Similarly, a digital project management suite can automatically assign tasks to the correct parties and give you status updates as things are completed. You’ll be less reliant on manual tasks, which reduces the likelihood of errors.

Investigate Automating Your Customer Communications 

No matter what kind of small business you have, it’s important to stay in a top-of-mind position with your customers. Ideally, they’ll think of you first to meet their needs. One way to increase the chances of that happening is to send periodic communications.

Using a platform to distribute bulk text messages is a popular option. Consider that approximately 93% of adults from advanced economies have mobile phones. Many people are already well-accustomed to receiving text messages, too.

Think about how you might automate text message distribution. You could:

• Tell people about limited-time sales
• Remind customers to fill out feedback surveys
• Give birthday wishes or mark other milestones
• Prompt website visitors to complete unfinished orders

People don’t always have time to open emails right after receiving them. However, text messages are often easier for them to immediately digest. Before setting up an automated system, consider the wording and format carefully. You’re working with limited space, so make every word count grab attention immediately.

See if Robots Fit Your Budget

Investing in robotics to cut operating costs may seem counterintuitive. After all, many robots have high upfront costs. Fortunately, they’re starting to become more accessible. Some companies charge per-usage rates to let business owners rent robots. One machine costs $8 an hour to run, less than hiring a person. The option to rent a bot lets people lower expenses and only pay for the time they use the robot, which often makes the prospect more affordable.

Sometimes, decision-makers realize the cost of purchasing a robot is worthwhile because it allows people at the business to spend their time more productively. Consider how an Auckland, New Zealand-based export business with 80 employees used a robot called Robert to assist with data-entry tasks.

Employees initially thought Robert was a human working remotely. It took some staff members several weeks to realize it was not a person. Workers said deploying this kind of robotic assistance was instrumental in enabling them to focus on more value-added tasks and keep the company competitive.

How Will You Deploy Robotic Technology?

As these examples show, there’s no universally best way to take advantage of robotic technology in a small business. However, a good starting point is to assess persistent weaknesses in your company. How might automation improve them and give your workers more time to focus on other duties?

Now is also an excellent time to decide how much of your budget you can devote to robotic technology. Don’t worry if you only have modest financial resources. Many business owners start small when using robots and automation, then scale up once they see those upgrades pay off.

The most important thing is to stay open to new opportunities and know that it may take some time before you see the full impacts of any tech upgrades. Remaining focused on what you want to achieve will help you stay motivated.

The post Implementing Robotic Technology to Reduce Operating Costs for Small Businesses appeared first on SmallBizTechnology.

When referring to SMART goals, SMART stands for specific, measurable, achievable, relevant, and time-bound. It is important to outline each of these parameters to ensure that your goals can be accomplished within a set timeframe. This removes vagueness and guesswork, sets up a well-defined window of time, and makes it easier to measure progress and recognize areas that need improvement.

SMART Goals

Specific

A key difference between a goal and a dream is specificity. If a company sets a goal to simply generate more revenue, that would be far too vague. It would be much more helpful to pick a precise figure for how much you aim to earn. Do you want to start bringing in $10,000 a month? $20,000? How many new customers do you want to acquire this year? Set a clear number. This will allow you to measure your progress.

Measurable

How do you quantify your goal? Can you? How will you know when you have met them? A measurable goal is concrete and offers you a way to gauge your progress. Making a goal measurable may seem obvious, however, many businesses and individuals fail to consider this factor when outlining their goals. How can you achieve a goal if it isn’t tangible enough to measure? To make your goal is more effective, you should always implement measurable benchmarks that you can evaluate. 

Achievable

A few years ago, Apple surpassed the 1 trillion dollar market cap, and while you should never be discouraged from aiming high in your business ventures, setting similar success as a short-term goal is extremely unrealistic. When outlining your goals, it is important to look at your business and ask yourself questions that will help you understand whether your goals are attainable (at the present state of your company) or not. What is necessary to reach your goal? Can you achieve it with the time/resources/personnel currently at your disposal? How does your course need to be adjusted to get there?

 Relevant

A relevant goal focuses on something that makes sense within the scope of your business. If you’re wanting to create a new campaign for your company’s product, that campaign should align with the overall objectives of your business. Your team may have the time and resources to launch the campaign, but if your business is not prioritizing launching that type of campaign, then the goal wouldn’t be relevant.

Time-bound

To effectively measure success, your business needs a well-defined timeline for when a goal needs to be met. Anyone can outline goals, but if your goals lack an achievable timeframe, you’re not likely to accomplish them. Giving yourself a deadline for finishing tasks is important. Ask focused questions about the goal deadline and what can be realistically completed in that time.

More SMART Goal tips

Get your team involved. 

People tend to care more about the goals they help make. Bring your team in on the creative process and include them in the decision of selecting the targets they will personally undertake.

Write down your goals.

Putting your goals in writing makes you much more likely to accomplish them. Give a copy to your team members. Outline long-term and short-term goals with your team. Make sure everyone is on the same page.

Review your goals.

Following completed milestones, review your performance and the business’s overall performance. What were you aiming for? Did you accomplish your goal? What were the positive and negative takeaways? What was learned that can help improve your future performance?

Revise and edit the goals as needed.

Goals don’t have to be set in stone. As you progress in a project, you may realize that you have to adjust your strategies, or even revise your overarching SMART goal. Periodically give yourself opportunities to make sure that your plan is still in alignment with your business’s main mission and vision.

 Set Yourself Up For Success

It can seem daunting to outline goals in this much detail. But the more you flesh out what you’re aiming at and how you will get there, the better equipped you will be for the journey.

Simply mulling over hopes and dreams in your head won’t get you closer to success. So, set yourself up for success by making your goals tangible. You wouldn’t start a long journey without some sort of roadmap. You should treat your business journey the same. Understanding why and how to set SMART goals will give your business structure to help you succeed in making and meeting goals.

The post How to Make Short-Term SMART Goals for a Business appeared first on SmallBizTechnology.

According to the studies cited below, remote work is a more productive environment for employees and could improve productivity of an organization in other ways too. For example, it gives organizations access to a wider pool of talent, allowing them to utilize experts from all over the world.

Why is Remote Work More Efficient?

In the past, employees had to get up in the morning an hour and a half before going to work. Now, they can simply get out of bed, have breakfast, and still make it in time for the morning kick-off virtual meeting. Cutting two hours of prep and traffic time per day improves the mood and happiness of workers.

With a 45-minute commute one way, the hours spent in traffic alone add up to more than 25 hours of saved time per month. 

The second thing that lowers productivity aside from distractions is an overbearing or intimidating boss. According to Stress.org, 35% of the workers reported that the biggest stress factor in an office environment is communicating with a boss or a leadership figure. Meeting on web-based video conferencing platforms has the effect of leveling the playing field. Plus, it can reduce the stress over an in-person meeting. None of the power dynamics are available to the boss, like standing while you sit. Or potentially the office furniture layout puts you at a disadvantage. In fact, by giving the boss the same challenges with microphones, cameras, and other technology, everyone in the conversation has more equal standing.

Remote Work Requires Organization

A common pushback on remote work often comes from micromanagers who feel more confident if they can closely oversee employees. And to be sure, some employees do not perform well in self-directed circumstances. Smart organizations will focus on helping employees be more productive without direct supervision, or by improving online supervision techniques by utilizing new technologies for secure video conferencing and always-on meeting tools. Because the alternative of bringing them back to an office is likely to become harder as time passes and remote work becomes more entrenched.

For more effective strategies working from home, you need more personal organization. In an office, there are structural elements that help organize your day and your workspace. At home, things that are common in an office are just not there.

Organizations that can identify those who are not as well suited to remote work, and help them with structure and clear expectations, will be more effective than those who ignore the problem.

Remote Employees Are Happier

While some companies are trying to drive people back into the office because ‘it’s always been done this way,’ others are trying to make an educated decision.

A study by Tracking Happiness concluded that working remotely or hybrid increases employee satisfaction and happiness by more than 20%. The survey was taken by more than 13,000 participants from Asia, North America, and Europe.

According to the surveyed people:

• Having an office-based work environment will make them less happy
• They want hybrid or remote work to be the norm
• Commute time plays a big role in dissatisfaction with office work
• Having to spend lunch breaks at or near the office is a negative
• Millennials prefer to work only from home

Remote Work Has a Better ROI

Not only are people more productive at home, but with them working off-site, companies have lower office expenses. This has led to a paradigm shift in how companies think about employee training and collaboration. In the past, companies planned off-site training and sent their on-site employees to a local hotel, conference center, or specialized collaboration space to ‘get away’ from the office distractions for important training or planning sessions.

What if most of your employees are already off-site remote workers? What do you do with your office space that is underutilized now? You can turn your off-site meetings into on-site meetings at your office and eliminate the expense of third-party meeting spaces. Utilize the space you have with periodic on-site collaboration and training sessions for your remote workers.

There is still a need for office space, but how it will be utilized in the future is still unclear. In the next few years, as building leases begin to expire, the full impact of this reduced office expense will be known.

Final Words

Remote work is more productive and efficient. Plus, it leads to a happier lifestyle for employees. The ROI of hybrid workers is much higher than office workers since it comes with lower costs. 

The post Is Remote Work More Efficient Than In-Person? appeared first on SmallBizTechnology.

As Digital Banking methods progress in the world of tech, they become quicker and safer than most traditional exchange methods between two parties. So what exactly are the benefits of digital banking for small businesses aside from speed?

Digital Banking Allows Small Businesses to Keep Track

Since small businesses or start-up organizations that are at the beginning of their entrepreneurial journeys can’t really afford to hire top-level accountants or pay for an advanced accounting system to monitor all the processes and finances in their firm, they can take advantage of digital banking.

Digital Banking allows smaller enterprises to manage their finances smartly. Additionally, it keeps track of everything in the form of reports, either weekly, monthly, or quarterly. These are easy to filter, which gives an extra edge to decision-makers in the company. You can always take a step back and see what you’ve paid to whom in which time period.

Some neobanking solutions for businesses can even allow you to share your financial data with a third party, like a financial analyst. As a small business, you could do that once per quarter or a couple of quarters instead of hiring a full-time analytics team.

It’s Convenient

Are you outside of the office? At the beach? No problem. You’re carrying all your financial data in your pocket on a mobile device. What’s more convenient than that? Online banking has become the leading way to handle money globally.

If you are a busy business owner, you can use the features while traveling, stuck in traffic, or even in a meeting if it allows it. Sometimes during meetings, questions regarding finances that you can’t know for sure could come up. Taking out a phone and checking in a matter of seconds is something that can help you a lot. You can have it all, employee salaries, payments, bills, and invoices, in one place, at all times.

Brick-and-Mortars Are More Expensive

Did you know that traditional brick-and-mortar banks with physical locations need to spend a ton of resources on organizing financial records and documents the usual way? They need to pay for a location, build an office, have ten times the number of employees, and interact with customers one-on-one on a daily basis. All of this requires more resources and leaves almost none for innovation. These are just some of the reasons why brick-and-mortar banks charge more for almost everything than digital banks.

On the other side, neobanks don’t rely on physical locations and invest all they’ve earned into improving the digital interface and infrastructure of their product. This makes automatic billing seem like a walk in the park.

If your employees are on a fixed salary basis, you can easily schedule all salary payments. Other expenses like bills can also be deducted automatically, and even monthly subscriptions, since you can easily get a business debit or credit card alongside your banking account.

Better Digital Security

Nobody walks up to a bank and robs it these days; it’s not the 90s. Banks are getting smarter and stopped carrying large amounts of cash in their safes. On the other hand, however, there are billions of digital dollars out there. 

As mentioned above, digital banks have way more resources to spend on innovation and security, while traditional banks have to spend money on locations and traditional real-life security personnel, who can’t really keep you safe from hackers.

New online payment platforms operate with advanced blockchain technology, which brings with it a whole new level of decentralized security. This prevents attackers from hacking one specific place or domain and gaining information. Information gets encrypted and broken down into nodes within the blockchain, becoming almost inaccessible to hackers.

Aside from high-level data encryption, digital banks also take advantage of numerous firewalls and the best and latest antivirus software. Of course, regular KYC inspections are still done for additional security, preventing social engineers from accessing your accounts.

A Smaller Environmental Footprint

Whether you are concerned about nature and the environment or not, having a smaller environmental footprint is a goal everyone should strive for. New regulations regarding certain operations are being implemented each month. Some of these impact the amount banks charge. However, not digital banks. They have an almost unnoticeable environmental footprint. Paperless operations, transactions, online support, and no office, meaning no commuting, are just some of the reasons digital banks are much better for the environment.

Final Words

Each year, the reasons why a small business should switch to digital banking instead of relying on brick-and-mortar banks continue to accumulate.  Digital banks lower your cost and provide better security, convenience, automatic payments, and financial tracking. The best thing of all, it’s easy to start and try without you having to visit an actual bank. All from the comfort of your home.

The post The Benefits of Digital Banking for Small Businesses appeared first on SmallBizTechnology.

What Challenges Teams Can Face and How OKR Approach Helps

Essentially, an Objective answers where we want to go, Key Results explain how we’ll know we’re getting there, and Tasks list the steps necessary to get there. And the OKR is the plan that brings it all together.

Below we offer two OKR tools: the Objective Map and the Roadmap. The Objective Map allows you to build a visual hierarchy of goals and plan objectives, while the Roadmap links this hierarchy of goals to a time factor.

The goal hierarchy is the heart of OKR.

OKR Planning Tool #1: The Objective Map

Our first tool is the Objective Map. The visual nature of this map allows you to see the whole picture at once, making it easy to analyze possibilities, predict obstacles, and plan objectives and the necessary resources for them. The Objective Map shows all factors (and how they are connected) that are needed for your success.

See all information on a map at once.

To create your own Objective Map, follow these steps:

1. Identify and name your Objective. This is your long-term, overarching goal.
2. Determine your Key Factors. These are the measurable sub-goals needed to achieve your Objective.
3. Identify and name any possible obstacles you will face on the way to your Objective.
4. List your Tasks. These are the specific steps to accomplish each Key Factor. Assign team members to these tasks.
5. Create an Objective Map by plugging in the Key Factors and Tasks you’ve identified. Where appropriate, include your obstacle plans.
6. Define your success metrics and connect them to your Objective and Key Factors.
7. Review the Objective Map with your team to get buy-in and understanding.

The Objective Map is finished only once it provides answers to the following questions: where are you going, how will you get there, and what steps do you need to take along the way.

Tips for Creating an Objective Map

When creating your Objective Map, keep these tips in mind:

Tip #1: Name problems first, then make plans.

Take the time to brainstorm any obstacles that might come up on your way to plan Objectives. These obstacles can come in all shapes and sizes–from limited internal resources to external issues with your clients, product, or services. When you identify a potential obstacle, decide how you are going to address it before you set out on the journey towards your Objective.

Tip #2: Follow cause-and-effect logic.

It is important to have the Objective Map express the cause-and-effect connections between each element on the map (your Objective, Key Results, and Tasks). The best way to do this is to define success metrics for all factors. In other words, determine what success looks like for an activity (the cause) and connect that success to what happens next (the effect).

OKR Planning Tool #2: The Roadmap

The Roadmap is the tool you can use to determine the timeline, sequence, and deadlines of each step of your Objective Map. The Roadmap ensures that your team not only knows what they are doing but also when and in what order they will move through each step. Based on your goals, keep in mind that your team might be completing more than one step at a time. A Roadmap will help you identify those moments and prepare your resources accordingly.

The roadmap ends and begins with your Objective.

The steps of creating and using a Roadmap are:

1. Revisit your Objective Map and review all the Key Results you’ve included in the map.
2. Order each Key Result, and the Task activities that will get you to that result, in a logical sequence that moves towards your Objective.
3. Assign due dates for each activity and step toward your Objective. If there is a hard end date, work backward from there when you plan Objectives.
4. Revisit the Roadmap often to check-off completed steps and to prepare for the next steps.
5. Revise the Roadmap when changing circumstances require you to pivot.

A Roadmap gives your team the awareness of projects in real-time.

Possible Challenges

Before we jump into a discussion of OKR creation, let’s review a few possible challenges that your team might face when creating a plan.

Problem #1: Unrealistic Views

Don’t succumb to wishful thinking by setting unrealistic goals. True, you want your Objective to be ambitious, but it also needs to be based on reality. Keep the assessment of your internal resources and capabilities, as well as any external factors, realistic.

Problem #2: Rigidity

The growth of your company depends on sustainability; sustainability depends on flexibility. When creating an OKR plan, don’t follow the plan so rigidly that the plan becomes (at best) useless or (at worst) harmful to your end goal. Always have the expectation that you may need to adjust to changing circumstances.

Problem #3: Lack of Motivation

The resources and technology you have access to are important, but it’s the people in your company that are key to your success. Avoid a lack of motivation by making sure each team member understands your business goals and agrees with their importance. This allows everyone to feel invested in a positive outcome and to use their creativity and energy to solve any emerging issues.

Conclusion

By using the Objective Map and Roadmap tools as your own OKR method, you will eliminate all the common problems that teams face when planning the road to a goal. These tools allow flexibility when obstacles arise; they also teach your team how to think about their own problem-solving thought process and the cause-and-effect relationships between each Key Factor. Fostering these qualities will ensure your team and your company will always be improving the practices and routines you use for achieving your goals. This is the key to success.

The post The Best Way to Plan Objectives and Key Results appeared first on SmallBizTechnology.

The difficulty is that adopting a fearful worldview frequently results in a self-causing recession. This is due to the fact that those who work from a place of fear generate contraction rather than growth.

We’ve been conditioned by nature to either flee or fight. We assume a defensive posture when we’re ready for flight in order to minimize potential losses or to just stay afloat. The problem is that these are the very acts that will cause businesses to downsize or possibly fail as a result of layoffs and lower revenues.

How do some businesses thrive in a recession?

Some businesses, on the other hand, not only survive but thrive during the most inconvenient of circumstances. Therefore, how do they do it?

The distinction is that some management teams and business owners regard a crisis as an opportunity. Therefore, when you think about it, every cloud has a silver lining. At the absolute least, there is always an opportunity that develops in the face of adversity in the case of business.

Avoid reacting emotionally.

While the natural impulse may be to reduce corporate activities and cut costs wherever possible, doing so indiscriminately would have the opposite effect. Businesses that thrive during economic downturns double down on their efforts. This is because they know that growth will take more effort, time, and resources at this key stage. Therefore, to obtain more customers, you might have to work ten times harder.

However, if you are ready to put in the effort, you will get more clients. At the same time, your competitors will be losing customers and personnel if they are acting fearfully.

Here are five main techniques for maintaining growth even in a recession.

1. Maintaining growth means boosting your marketing and public relations initiatives.

Effective promotion and marketing generate sales, as most CEOs know. They also understand that during a recession, the majority of other firms, including competitors, will cut back on marketing spending. However, this is an opportunity to do more.

This is when smart companies ramp up their advertising and marketing campaigns in order to stay ahead of their competitors. Those who are cutting back are driving their businesses into the ground at the same time.

2. Maintaining growth means eliminating the bottom 20% of your consumer base.

This does not apply to e-commerce companies. However, everyone else should be aware. This strategy seems unlikely to help. You may be wondering whether, at a time like this, you can afford to lose customers.

The truth is, yes, you can. In addition, this is how smart leaders succeed. We’ve all dealt with clients who are tough to work with, late to pay, or who require a disproportionate amount of resources in comparison to the money they create. Therefore, cut these clients immediately. This is because increasing your marketing efforts will bring in new business. This change will require the same internal resources that low-yield customers are consuming now.

3. Provide additional assistance to your customers.

Make a list of the problems that your clients may be facing during the downturn. Think about how you, your partners, or your vendors can help clients withstand the storm better with your team. In addition, reach out to your customers and inquire about their problems in order to give them assistance.

Offer to do something for free. You can do this if there is something you can do without increasing your expenditures. You might offer to deliver something with payment terms or at a discount rate.

4. Maintaining growth means streamlining operations and providing a better client experience.

You now have extra time on your hands. You can use it to improve internal processes. Further, you can improve the quality of your deliverables in addition to setting up a system to provide top customer service.

If you want to come out on top after this storm, you’ll have to outperform your competitors. You can do so by providing the best customer service in a more efficient manner. This will significantly lower client churn while also allowing you to service more customers.

5. Fire your worst employees and convince your other employees that you care about their well-being.

There’s a good chance you’ve kept people on board because you needed all the support you could get. These folks, on the other hand, are chronic underachievers who don’t get along with others and have lots of other troubles. Now is the moment to let them work for the competition. It will benefit both your team and your customers.

Now go tell the rest of the team why you did it. After that, let them know how much you care about them and will go to any length, including falling into the red this year, to ensure that they and their health insurance are protected. Furthermore, fulfill this commitment. Your company’s success depends on the trust you have with your employees.

Your company may not only survive but prosper in this storm if you have an offensive plan, an expansionary attitude, and a proactive approach.

Image Credit: Lukas; Pexels; Thank you!

The post 5 Tips for Maintaining Growth During a Recession appeared first on SmallBizTechnology.

In the careers of most technology executives, the previous two years have been the oddest, most demanding, and most thrilling of their lives. They managed to cram over three years’ worth of digital change into the latter three quarters of 2020 alone, according to some estimates.

This past year was marked by a great deal of uncertainty:

• When will we be able to say that the epidemic is over?
• Will we be able to return our employees to their workplaces on a full-time basis?
• When will we be able to return to “business as usual?”

There are some who may be more sure of answers. However, four high-level trends in business technology are developing that will impact 2022 and beyond.

1. The beginning of the era of permanent hybrid employment.

Information technology professionals who created remote work environments on the fly last year slowly understand that remote work will likely become a permanent component of their organizations’ cultures in the coming years.

Experts predict hybrid work will be a corporate mainstay by 2023.

Many people anticipated disruption of a few weeks or months in March 2021; at the time, many people predicted a few weeks or months. This move poses several concerns for IT executives, including the following:

• Will modifications be necessary to the organization’s collaborative technology, as well as to its security tools and strategy, if the organization’s existing remote work environment is designed for the long term?

Describe the process through which new workers will be introduced to technology and instructed on security regulations. How will physical workplaces be built to keep workers safe while allowing them to collaborate to the greatest extent possible?

2. Empower employees working from anywhere in the world.

One of the reasons hybrid employment is here to stay is because employees themselves have gained newfound authority and independence.

Many employees seem to be reevaluating what is most important to them in their professional lives. The “Great Resignation” has caused significant disruption across various sectors. Still, it also provides an opportunity. Organizations that create appealing workplace cultures will have a significant edge in the race for top talent.

Employee participation and simplicity of use are at the heart of developing collaborative workplace culture, and workplace technology that supports this is essential.

3. Hybrid work necessitates a new approach to security.

The adoption of remote workers as a permanent element of today’s businesses will need to adjust how companies think about security.

Most businesses have understood that verified identity is the new perimeter. They have taken steps to implement it.

Some, on the other hand, were pushed to hasten their preparations for implementing zero-trust security principles as a result of the outbreak. This is due to the fact that zero trust brings the identity of the user to the forefront.

This is critical in remote work. According to Microsoft’s newest “Zero Trust Adoption Report,” the outcome is that 76 percent of enterprises are employing a zero-trust security approach.

4. Supply chain issues will continue to exist.

The flaws in the supply chain that have hindered the economic recovery and left companies and consumers across the globe unhappy will be ironed out. Just when is the question.

Predictions concerning when this will occur, on the other hand, should be treated with caution. Supplier interruptions are expected to persist far into 2022, according to industry experts. Some firms in need of endpoints have discovered that obtaining them promptly has proven difficult.

Meanwhile, retailers will need high-level analytics, edge computing technology, and other solutions to help them manage their supply chains as efficiently as possible.

Some disruption is unavoidable, but firms who are proactive in preventing shortages and ensuring that consumers have what they want when they want it during these difficult times will enjoy long-term consumer loyalty.

The world has altered dramatically. Businesses must go with the tide rather than wait for things to revert to the way they were. This is the only way to grab the future. To make it yours.

The law of supply and demand has not been suspended. It still holds sway. Over the entire world…including your small business.

Despite the pandemic, the movement of goods continues. Just not in the same way it did in the past. Or at the same speed. And technology has changed radically. Plus it will continue to evolve at a dizzying pace. Will you be able to keep up? Only if you keep abreast of the latest trends!

The post Trends to Guide Technology Decisions in the New Year appeared first on SmallBizTechnology.

Successful companies such as Tesla have made a move to invest in new technologies, including clean and renewable energy. This gave rise to the invention of the Tesla Powerwall, a solar battery providing even greater value.

Installing a solar battery such as the Tesla Powerwall, whether it’s to supplement your strategy for dealing with power outages along with a bank of 10000 watt generators or as a stand-alone strategy, will help to ensure that you get the most out of your system. You will be able to store excess electricity and improve its generation throughout the day in both your homes and businesses. It helps not only protect the environment but also saves money.

There are many benefits to adding the Tesla Powerwall to your system as outlined below.

1. Reliable, Consistent Power Supply

The Tesla Powerwall ensures that you have power when you need it.

Solar panels only produce electricity when there is sunlight. This means that you lack consistent supply at night. You are assured that your essential appliances will keep running even during power outages.

Installing a solar battery ensures that you have a constant power supply. The Tesla Powerwall boasts of great energy storing capacity of 13kWh. The Tesla Powerwall also ensures a higher power supply due to its flexibility. You are able to stack or add to your units at any time as your demand increases.

2. Diminished Grid Dependency

The Tesla Powerwall offers a great solution for you if you want to stop relying on the grid.

Frequent power outages are a pain to handle. This battery system ensures that you do not have to depend on the grid to run your household or business. This is because it automatically detects grid outages. You do not have to lift a finger when this happens. Having independence from the grid without a solar battery is next to impossible.

3. Improved Power Technology

Technology access means more control.

The Tesla Powerwall provides great features that make your solar power system more efficient. It even includes a storm-watch feature. The Tesla application provides you with real-time data usage and time-based control.

You are able to optimize the usage of electricity from your solar system by discharging it during peak hours. This time-based control greatly impacts your electricity costs and is a definite advantage for your household.

4. Benefits to Our Ecosystem

The use of non-renewable energy such as fuel and coal has had a continuously negative impact on our environment.

Global warming is increasingly on the rise and with it comes temperature rises and harsh weather conditions. Likewise, wildfires are now a common occurrence destroying our ecosystem.

Integration of your solar system with the Tesla Powerwall ensures that we have a constant supply of clean renewable energy from the sun. This will enable us to minimize our carbon footprint and help the ecosystem become vibrant again.

The Bottom Line

The Tesla Powerwall offers a great battery storage solution that caters to the growing needs of businesses and industry. Its ability to be integrated into an already existing solar system is also a great advantage.

The Tesla Powerwall is powered using lithium-ion batteries which are made from recyclable material. Tesla has partnered with different companies to reprocess spent battery packs and cells for making new ones. This battery requires no maintenance. You can feel proud while using this technology as it incorporates a zero-waste policy and is manufactured using recyclable materials.

Environmental awareness provides a much-needed reprieve as the world makes many changes and initiates campaigns to go green and create sustainability for the environment. Considering the benefits to your business and the environment, it may be time to give the Tesla Powerwall serious consideration.

The post 4 Benefits of Adding Solar Batteries to Your Solar Power System appeared first on SmallBizTechnology.

Workplace retention has unquestionably changed, with individuals wielding greater influence than ever before.

Greater money, more flexibility, and more recognition are among the demands of modern employees. In fact, according to an Oracle study, 88 percent of employees believe the definition of success has shifted. However, that is to say, they name work-life balance, mental health, and workplace flexibility as top priorities in 2022. And don’t forget the importance of communication!

Staff retention techniques are a key priority for 87 percent of HR directors in the future years. Therefore, moreover, 20 percent of them find it challenging to stay focused on this goal. Indeed, digital transformation is transforming the way we work and connect with one another. Consequently, it’s no wonder that technology is crucial to employee retention, and it begins with the source.

An employee’s onboarding may make or break their experience.

Therefore, employee retention begins on the first day of work.

Strong onboarding strategies have been demonstrated to increase new recruit retention by 82 percent. Employees need flexibility and autonomy in their job, and the correct technology framework may make or ruin an employee’s experience straight away.

It is our responsibility as technology leaders to give the correct product options. Options that enable our teams to function effectively without jeopardizing the security of either the company or the employee.

Employees should feel comfortable, valued, and in charge of their working environment. Indeed, throughout the onboarding process, without jeopardizing your company’s security, cost-efficiency, or data management needs. Employees will feel more appreciated if you allow them to choose how they want to set up their digital workplace.

A good work-life balance should be supported by retention technology.

Employees that are happy are more productive, as cliché as it may seem. In 2022, what makes workers happy? The solution is simple: caring businesses and management.

However, the Harvard Business Review forecasts that 65 percent of jobs presently done by managers might be automated by 2025 (paywall). Consequently, managers’ expectations are likely to change as automation progresses.

Managerial duties will shift from task management to overall experience management. Moreover, requiring managers to provide more support for workers’ professional growth objectives, work-life balance, and business relationships.

However, all managers should not wait for automation to revolutionize the way they manage their teams.

You can improve your team’s processes with technology. Your ability to obtain real-time pulse checks on their mental and physical health increases with technology. And technologies open the door to social cooperation that wasn’t feasible previously. That is to say, more than you already have prior to adopting this attitude change.

Here’s how to do it.

Take a step back from the retention tools.

Plugged-in managers will start to go beyond the surface-level functioning of digital technologies and use them to build stronger bonds with their staff.

When screen sharing with colleagues, for example, some experts discover that outmoded systems or procedures are being used to optimize productivity.

Some experts suggest you may identify engagement concerns that you can solve to better understand what’s going on behind the scenes. Especially when workers who are regularly on camera get into the habit of turning their cameras off.

To remain tuned in, strong leaders should pay attention to the quirks of their workers’ usage of technology.

Promote health and well-being for better retention.

Thousands of tools are now available for businesses to use to motivate employees to improve their mental and physical health.

Employees may take charge of their health by making use of telehealth advantages and downloading corporate-sponsored applications. Allowing flexible work hours or establishing no-meeting days, for example, might assist staff rejuvenation.

Dismantle societal boundaries.

Technology may help people build more meaningful relationships by breaking down social boundaries.

What happens when you hear a dog bark or a baby scream in the background of a conference? Of course, it immediately disrupts the previously accepted “work is work, home is home” mentality.

Working from any place, ironically, helps us to collaborate and become more socially conscious and sensitive to one another.

Beyond The Retention Present

The barrier between reality and virtual reality will continue to dissolve in the coming years, and the workplace will be no exception.

People are becoming used to conversing with chatbots rather than people. Consequently, they are seeing Big Brother-style restaurants and consumer product suggestions show up on their phones.

Consumer-oriented technology seems to be ahead of what we utilize in the corporate sphere for the time being. Experts believe that this will not remain the case for long.

Take, for example, Microsoft Viva Insights. It analyses your emails and schedule for suggestions on how to make your workday more efficient. While this is a beneficial aspect for workers, the future is far brighter.

As virtual reality advances, some experts predict a day when video conversations will no longer be one-dimensional. It will be a day when we will be able to smell each other’s coffee and get a 360-degree view of each other’s workplaces without ever leaving our homes.

Consider how this might affect the overall employee experience.

The post Retention of Employees Requires Technology appeared first on SmallBizTechnology.

You know all too well that many businesses owe their success to luck as often as labor. That’s not to say that the risks you take aren’t carefully calculated – they are. However, many of you reading this may have risked everything by waiting to take effective cybersecurity measures.

The cybersecurity risks have never been higher than right now — and the government knows it.

It’s why the Cybersecurity and Infrastructure Security Agency (CISA) announced the Shields Up program. Shields Up is designed to protect American businesses from malicious cyber activity surrounding Russia’s invasion of Ukraine. It’s also why the DOJ announced it will fine government contractors and other businesses that fail to follow cybersecurity standards or fail to report cybersecurity incidents.

Waiting on security upgrades until regulatory agencies mandate security can be costly and dangerous for your businesses.

Any company, including contractors and subcontractors, who do business with the government faces a slew of orders to be compliant with various cybersecurity frameworks. This includes NIST 800-171, which outlines the required security standards and practices for non-federal organizations. Likewise, FAR 52.204-21 lays out 15 basic safeguards surrounding data, physical security, and cyber hygiene. Similarly, the Cybersecurity Maturity Model Certification (CMMC) program is a framework designed to protect the defense industrial base.

Playing a Dangerous Game of Cybersecurity Chance

As regulators negotiate, discuss, and finalize, we’ve noticed an alarming trend. Many companies are hitting the “Pause” button.

We get it. Last year’s CMMC town halls highlighted small business concerns. The new policies being proposed put a disproportional burden on smaller companies that might not have the systems, in-house expertise, or budget for the required response.

The industry developed CMMC 2.0 to address those issues. And in many ways, it does. But it also contains a few surprises.

The Reality Check

If you’ve pumped the brakes on investing in more robust cyber security and are waiting to see what the regulations will look like, you’re taking a huge gamble. Here’s the reality.

Attacks won’t wait.

While you spend time waiting on security, your business continues to be at risk for a data hack or ransom.

The business interruption, reputation damage, proprietary information losses, recovery fees, and customer or contract losses are often enough to sink even the most stable businesses. And any cyber insurance policy you’ve got won’t be sufficient. It won’t cover everything.

If hackers return your data after a ransomware attack, your problems may multiply. Corrupted and inaccessible data aren’t much use.

The “final” version will come up too quickly.

When DoD starts using CMMC 2.0 guidelines it will be with just 60 days’ notice.

That’s not enough time for most companies to complete remediation work. Waiting for a final version or official start may cost you contract opportunities. If you’re ready to go sooner, however, you might be able to grab work from others who are not.

While not fully finalized, DoD is planning to offer incentives to organizations that go through the certification process prior to the final rulemaking for CMMC.

Your to-do list has 320 tasks!

The requirement to be compliant with NIST 800-171 cybersecurity framework has 110 controls that require 320 assessment objectives.

For Maturity Level 1 and non-prioritized Maturity Level 2 contracts, senior leadership will self-attest to their company’s compliance each year.

But that’s not a free pass. The DOJ has already used the False Claims Act to go after companies who self-attest, have a security incident, and are found, through an investigation, not compliant.

Documentation did not go away.

Many companies believed that CMMC 2.0 would do away with documentation: It. Did. Not.

Companies must document all of the 320 assessment objectives. It’s a significant amount of work — and few companies can do it all internally. Another reason that waiting on security measures will backfire when the a time crunch comes.

The ROI Dilemma

We acknowledge that the cost of cybersecurity seems daunting.

Many companies haven’t invested in an enterprise-level solution or even budgeted for ongoing cybersecurity work. But they need to.

Cybersecurity has become a normalized expense for business operations, like paying payroll taxes or carrying insurance. If you’re struggling to see the ROI of cybersecurity consider three things.

1. Small businesses are the ideal target for ransomware hackers.

Cybercriminals know you have fewer resources and staff to prepare for, defend against, and recover from attacks. Attacks have doubled in the last year because they are incredibly lucrative and you’re a great testbed to prepare for larger attacks.

2. The average cost for a data breach in a small company is $108,000.

But money isn’t the only thing at stake. The disruption, recovery, and unanticipated costs — plus customer frustration — have been shown to take a far greater financial toll on companies. This can total as much as $3 million per incident for companies with fewer than 500 employees.

3. Cybersecurity can be a competitive advantage.

While others delay, you can cash in on customer and partner trust built on the strength of your cybersecurity program.

There is an easy way to begin.

A slow roll is still a step in the right direction. We advise small businesses to do several things right now to get things started. Most of them won’t cost you a dime!

Talk real numbers.

A realistic estimate is the first step toward developing a compliant security plan.

A good cybersecurity services company will provide a basic assessment and estimate free of charge. A great cybersecurity services company will further your education, explaining the standards you will need to follow, where you stand now, and the scope of a solution.

Real numbers allow you to plan ahead and budget for security. Very often, we surprise small businesses when they learn that cybersecurity compliance doesn’t cost as much as they expected.

Understand your attack surface.

The physical front door isn’t the only way people are entering your business.

All of your web apps, portals, and bill pay systems are entrance points too. Identifying all of your assets is the first step in securing them.

Now is the time to conduct a thorough audit of your digital ecosystem to understand your attack surface and plan for ongoing monitoring.

Revisit your incident response plan…and practice it!

In case of a security incident, every employee with network access should understand the plan.

Above all, your Incident Response Team, encompassing leadership, IT, HR, legal, and communications, should also practice their first steps. Similarly, it may be helpful to have written procedures and a printed phone tree that clearly spells out whom to contact and under what circumstances.

Back up your data.

Put together an ironclad schedule for backing up all data. Likewise, it’s valuable to test the procedures for restoring information, too, in case you are hit with ransomware or another cyberattack.

A good look at cybersecurity realities can help small business owners and leaders change the game. Therefore, there’s no need to gamble with your company’s future and reputation.

Cybersecurity-building steps often start with a slow roll and pick-up speed as companies understand more about their requirements and the business benefits of a robust security stance.

Derek Kernus is the director of cybersecurity operations at DTS and holds CISSP, CCSP and CMMC RP certifications. DTS provides tailored, scalable cyber solutions for small- and medium-sized organizations leveraging top resources and the expertise of talented individuals with a passion for excellence to help protect our clients’ people and data.

The post Waiting on Security: The Real Cost appeared first on SmallBizTechnology.

What is call monitoring in small-business marketing, and why is it important? With powerful cellphones and laptops, and virtually ubiquitous Wi-Fi, we all increasingly expect current consumers to research goods and services online. Surprisingly, many individuals still prefer contacting a company’s phone number to filling out cumbersome online forms or chatting live.

Call monitoring may be a handy tool for small companies as it can help them assess their performance and uncover possibilities based on the phone calls they get. Any agency knows this because we utilize a unique marketing plan that integrates with our clients’ calls to maximize their marketing investment and help them build their company. Confidentially, it’s all edge technology.

What is the term “tracking?”

Measuring which marketing initiatives are generating calls and creating interest among prospective clients is known as call tracking. You may use this data to determine your next marketing strategy and budget.

Call monitoring also collects useful caller information that you may use for customer service and marketing. Therefore, small firms may use call monitoring to make data-driven marketing choices.

What is the mechanism behind it? There are two fundamental components of how call tracking works:

1. Set up a call-tracking system.

When you set up call monitoring for your company, the questions you will answer are if you want a toll-free number or a local number.

You may also choose to have calls redirected to your workplace, home, sales department, third-party answering system, or even your mobile. Your provider will match them with your phone tracking number.

2. Gather and analyze data.

Your provider will notify you whenever a prospective client contacts your number. The contact service records the origin, time, and duration of each phone call and whether or not the customer answered the call.

However, caller information, such as the caller’s complete name, location, and purchasing history, will also be revealed. Above all, call monitoring will reveal which marketing effort prompted a prospective consumer to dial a phone number.

What are the benefits of call tracking for small businesses?

Call monitoring is helpful for small firms for a variety of reasons.

Analyze and enhance the marketing return on investment.

You may gain insights into which keywords, advertising, or campaigns attract new clients via call monitoring.

It’s possible to increase conversions and ROI by learning which marketing methods work for your company.

You will miss no more calls.

Customers may be disappointed if their calls go unanswered owing to congested lines.

All tracking delivers a real-time notice through email or voicemail every time a call is lost. Once call agents are available, they will be able to take quick action.

Conversion rates should be improved, and lost leads should be recovered.

Conversion numbers are accurate when you use call tracking. You’ll be able to track the source of the call back to a specific campaign since you’ll be using a unique phone number.

Call monitoring also records phone conversations to examine a lost lead’s interests and worries. Then build retargeting advertisements or emails that address their concerns.

The company should improve customer service.

You may determine your target audience and learn how to pique their attention with call tracking. Contact tracking will offer crucial caller data to enable the customer care agent to customize their encounter with the consumer when they call you.

You can analyze your sales procedures to understand the client’s journey better.

You will have a thorough insight into your sales processes and your consumers’ experiences when they contact your organization if you use call tracking.

Call tracking allows you to learn more about:

• the days of the week when the most people contact you;
• when individuals contact your company throughout the day;
• how successfully your team members deal with incoming calls;
• who answers the phone;
• if your call takers are doing well or if they need further training;
• if you can turn leads into appointments, and how often;
• the caller’s intention; and
• whether the company should improve employees’ call-handling abilities.

Leaders may use call tracking to record both incoming and departing calls. Therefore, they may assess your staff’ customer service skills by listening to recorded calls.

The company may evaluate its agents on their ability to follow call scripts, handle bookings, and sell effectively. You can figure out which call takers require more training.

Get detailed information on the caller.

Call monitoring provides detailed caller information for marketing, customer service, and quality assurance. However, you may provide the following information about the caller:

• number to call;
• the caller’s first and last name;
• the caller’s current location;
• whether they’re calling for a campaign;
• if they’re a new or returning caller;
• the call’s length and quality;
• the reason for the phone call;
• purchase history of the caller; and
• explore uncharted territory.

Small companies may utilize call tracking to find new business possibilities and develop their firm.

You may examine the location details of the individuals that call your firm when you monitor calls. You’ll learn where most of your calls are coming from, which you may utilize to create new marketing efforts.

During high call hours, be more efficient.

You may determine when your firm gets the most calls from prospective clients by monitoring calls.

Consequently, with this information, you may effectively organize your employees’ working hours so that you can handle all calls during peak hours.

Call monitoring is a simple yet effective practice that may help small companies in various ways. It will help you better understand your consumers and develop your marketing tactics.

The post What Is Call Tracking? appeared first on SmallBizTechnology.

The continuing Covid-19 pandemic will shape and affect business and tech trends for the third calendar year. How companies and organizations adapt to pandemic disruption might have defined 2020 and 2021. This year, enterprises are reacting to the Covid-19 fog with a cautious business attitude and a frantic drive toward digital operations.

However, in the near term, corporations will shift their attention from uncertainty to agility, seeking to capitalize on emerging trends and shifting conditions. After all, you’re not a Russian billionaire!

This year, companies will have to understand the unpredictable nature of global pandemic patterns. For clarity, firms should employ data and analytics, not the cloud of doubt. With a proactive perspective, firms may go from being reactive to proactive.

A greater focus on data and analytics will reshape operations in many ways, but four small business tech trends stand out.

1. Subscription-based models.

It’s no wonder that firms are adapting their subscription trends models to meet customers’ changing demands in the on-demand economy. -Converting one-time buyers into subscribers ensures a steady income stream rather than irregular purchases.

During the early phases of Covid-19, the subscription model held strong. According to Deloitte, 4/5 subscription-based firms have kept or gained customers since the epidemic began.

While the pandemic boosted many subscription-based businesses, churn is now a concern as customers reassess the value and volume of their paid memberships.

Companies may use data to create a more customized experience, from communications and marketing to the goods and services included in the subscription. Therefore, delivering a personalized experience means clients get value for money and are motivated to connect with the business.

2. Changing supply chain strategy.

Supply chain disruption stories dominated this year’s Christmas shopping season, and they will continue in 2022.

Businesses will increasingly depend on data and supply chain analytics. Leaders depend on the data to understand better how to service their consumers from multiple smaller, localized fulfillment centers.

The Ever Given incident and tech scores of cargo ships trapped off the California coast defined 2021. In 2022, expect firms to adapt to more agile supply chains.

You’re not alone in thinking that the supply chain will become a hot subject as we move forward. Companies are scrambling to discover technologies that will help them weather the storm in 2022, yet data-driven supply chain management tools — including AI and GIS — are still in their infancy.

3. B2B tech sales tools.

As data practices evolve, we should expect to see more data-driven technologies used by B2B salespeople.

Therefore, major fundraising rounds like Apollo.io’s $32 million Series B show the rising interest in sophisticated trends sales enablement systems.

Some company executives attempt to use new technologies for sales and marketing. However, we expect to see increasing technology cooperation across formerly walled business groups.

So work to enhance goal-oriented processes as prospects progress into the funnel and throughout the customer journey.

Business executives and data trends professionals are increasingly working together to uncover new possibilities. As a result, data-driven B2B sales enablement may boost campaign effectiveness and efficiency.

4. Optimization of digital technology.

The trend toward personalization unifies all of the themes on this list. Consequently, consumers have more options than ever, allowing them to influence company success.

Companies may succeed in this climate by focusing on consumer data, analytics, and targeted communications. In 2022, successful organizations will rely on tech touch and accuracy rather than volume.

Above all, sending the proper customized greeting isn’t always easy. The collapse of third-party data and revisions to iOS privacy settings have made this a difficult task.

However, to compensate, businesses must use their first-party data, collecting, organizing, and analyzing their precious resources.

Moving Toward Clarity in the Coming Year

Europe and Asia have alternated between normality and increased lockdowns over the last two months. Many states in the U.S. are urging individuals to obtain a second dose of the Covid-19 vaccine. All the while less developed technology nations recommend populations to be vaccinated.

However, these contrasting scenarios show that this year will be a year of uncertainty, with implications for global rivalry, demand, and logistics.

While abrupt changes may impact tech sectors, this does not imply changes will harm all enterprises.

Dedicated data gathering and analysis allow firms to see through the fog and make intelligent choices. Big data enables firms to see patterns in apparently random or chaotic occurrences. Real-time data resources may help companies respond to changing legislation or supply chain interruptions, ensuring sustained success.

A year of personalization, clarity, and dependability for firms that invest wisely in data solutions.

So stop, look, and learn. Rome wasn’t built with sticks and stones but rather with fortitude and determination.

The post 4 Business and Tech Trends to Watch This Year appeared first on SmallBizTechnology.

But wait, aren’t global labor markets off-limits to small and medium-sized companies?

Thankfully, international workers are more accessible than ever due to modern technology and third-party services. So if you’ve never considered looking overseas to solve your local talent issues, here are three reasons why you should.

1. Technology can bring the world to you.

Moving into the global market doesn’t necessarily mean going through the process of opening up a location overseas.

Sometimes thinking internationally is as simple as opening up your hiring pool to remote workers in other countries. And the best part is that technology has come a long way in this endeavor. Hiring individuals from another country no longer requires relocation, visas, or sponsorships. Depending on the position, you can hire and onboard remote contractors and employees online.

Technology is also a huge asset when it comes to finding quality remote workers in the first place.

There is a multitude of specialist companies that can post your job listing in the countries that you choose. After that, your preset filters can forward your best options without overloading your inbox.

The explosion of individuals who work remotely has also brought with it innovation in collaborative software options.

In the past, the notion of having a team of people work together and never be in the same room was outlandish. Nowadays, assigning tasks and sharing workflow materials is as easy as clicking a button or creating templates. Meeting and conferencing software automatically adjusts for individual time zones and can record conversations for future reference.

So if you believe job-specific limitations are preventing you from hiring global workers, you might investigate what software is available. Sure, there’s no getting around certain location-dependent jobs such as package delivery or building construction. However, some job categories previously considered to be solely in-house might be more adaptable than you think.

2. You don’t need international HR expertise.

Some small business owners don’t consider acting on overseas hiring options. One reason is that they assume they’ll need international expertise to do so. And while international workplace differences and labor regulations can genuinely be a pain, there’s good news. All that administrative hassle doesn’t have to be your problem if you outsource it.

If you only want to hire global remote employees — as opposed to setting up shop abroad — you will need an employer of record (EOR). This is actually not a recommendation. It’s a requirement if you do not have a legal presence established in the country of hire.

What does an EOR do?

An EOR works by creating its own legal presence in multiple countries. Once they’ve done that, they offer the service of hiring employees on behalf of companies around the world.

So let’s say you want to hire a remote worker from Brazil. You would engage an EOR to be their employer on paper even though the worker performs services for you.

An added benefit of using an EOR is that the liability for international reporting and regulations is off your shoulders. If you do not file reports correctly or employer taxes are paid late, it is the responsibility of the EOR.

A situation where you might engage an overseas worker and not be forced to use an EOR involves independent contracting.

When you hire an independent contractor rather than an employee, there are no requirements to have a legal presence. This doesn’t mean you have to navigate international regulations on your own, though. In these instances, you can hire a professional employer organization (PEO).

A PEO operates similarly to an EOR in that it can handle administrative setup and payment functions. The major difference between the two is responsibility. If an error is made with reporting or payment, the PEO can help resolve the issue. However, you are ultimately on the hook for fines and penalties.

3. You gain options to fill in your talent gaps.

Competition for quality employees and contractors is stiffer than ever.

Does it seem like your open positions are destined to stay that way due to a lack of qualified candidates? Maybe qualified individuals in your area are in such demand that they are out of your price range.

To solve this problem, you might be tempted to settle for subpar hires. Sometimes these individuals grow into the positions, and everything works out fine in the long run. When it doesn’t work out, however, you’re looking at turnover that is costly from both a monetary and team morale perspective.

Expanding your search radius internationally can be either a long-term or short-term solution.

Let’s say your firm has a series of projects that require engineers, and you have been coming up short locally. In order to fulfill those needs within budget, you could look for engineering contractors in countries such as Iran or Indonesia.

You can use remote contracting either as a stopgap measure or as a trial run for future employees. If you like the work an individual performs on a single project, you can extend an offer of full-time employment. Getting a better understanding of a worker’s performance before onboarding them can save you time and money by preventing unnecessary turnover.

The world is open to businesses of all sizes.

If you’ve been hesitant to investigate options for global solutions to your hiring problems, it’s important to ask yourself why.

Is it because you think it will be too complicated, expensive, or inapplicable to your industry?

If those concerns are holding you back, there are options and third-party companies available to help. Whether it’s temporary support to get you through a busy patch or a long-term strategy, global hiring might be the best solution for you.

The post If You’ve Been Afraid to Hire Globally, 3 Factors Might Change Your Mind appeared first on SmallBizTechnology.

Listed below are five technological developments and how they may affect your organization. Zoom is just for starters. Did you miss these items?

1. Zoom is branching out into customer service.

Zoom has unveiled its new Zoom Contact Center solution. That is to say, it will broaden its customer care offerings.

Zoom Contact Center will continue to operate with video conferencing. Consequently, it allows businesses to engage with consumers swiftly. Zoom hopes to consolidate all parts of customer support into a single, easy-to-use solution for managers and operators with the expansion.

Why is this significant for your company?

• With pandemic demand fading and more employees returning to work, Zoom has to find new ways to make money, and delivering video-based customer support tools strikes me as a brilliant idea.
• For small organizations to consider Zoom Contact Center a realistic alternative, greater integration and collaborations with other customer care, help desk, and customer relationship management applications are required.

2. Self-driving vehicles are becoming a thing.

Self-driving trucks are causing a land grab in the vicinity of major cities. Consequently, they have fewer incidents to report.

As the demand for driverless cars grows, some speculators rush to buy property outside of major cities. However, they aren’t the automobiles you’d expect to see. It’s not the automobiles. It’s all about trucks. And in-house technology.

As autonomous trucks become more ubiquitous — and a few large businesses have huge aspirations for this technology — suburban stops will be needed. That is to say, places where people can climb in the cab and take control of the truck for the last few tricky kilometers.

Why is this significant for your company?

• We’ve heard about self-driving vehicles, but they’re still a long way off. That’s because many talented individuals, including Uber employees and even Elon Musk, have stated that these tasks are more complex than they anticipated.
• But what about autonomous trucks? Now there’s a thought. That’s because trucks can safely drive themselves along a highway, saving money on petrol and decreasing insurance premiums. As long as humans finish the remaining part.
• Therefore, it’s logical, and it might be the first generally accepted use of autonomous technology in the coming years.

3. Walmart will deploy technology to assist customers in trying on garments.

This week, the retailer launched a test version of its “Choose My Model” try-on option, driven by neural networks. Customers may choose models that “better resemble their looks and body type” then try on virtual replicas of their clothing choices to see how they’ll look.

Walmart adds it will continue to increase its model choices over time, according to TechCrunch. Walmart has plans to debut over 70 new models in the coming weeks to provide greater variation in terms of size, skin tone, and even hair color.

Why is this significant for your company?

• Will this be the last time they use the dressing room? Most likely not.
• However, it’s another tool that innovative businesses will use in the following years to assist shoppers in purchasing their goods.
• Additionally, it’ll be fascinating to see which “models” people pick to represent me. Experts like the George Costanza look…not.

4. Pittsburgh firms introduce technology to analyze bridges from the ground up to the sky above.

Following a bridge collapse in Pittsburgh, Penn., local firms have leveraged their associated technologies to construct their bridges and develop their businesses in January.

Mach9 Robots, a local company, was the first to respond. They were there using robotics and sensor technology to survey subsurface and surface regions and generate geospatial models of critical infrastructure in minutes.

Why is this significant for your company?

• Unfortunately, necessity is the mother of creativity, and it takes a catastrophe — or the threat of a tragedy — to generate chances for entrepreneurs.
• The collapse of a bridge in Pittsburgh provided an excellent chance for local entrepreneurs to show how their innovations might enhance infrastructure safety.

5. Etsy’s post-pandemic aim is to increase the number of guys who shop there.

Etsy is looking for its next move now that the masks and home décor purchasing frenzy have subsided.

Etsy recently reported that half of the male buyers in the United States had no idea what Etsy was, according to a study performed in 2020. According to the same report, 80 percent of Etsy consumers are female. Therefore, Etsy attempts to attract more male buyers to the site by placing tailored advertisements on male-dominated channels.

Why is this significant for your company?

• Small companies might consider selling on Etsy. However, they mainly serve a female audience.
• If you’re an Etsy reseller – or thinking about becoming one – make use of the platform’s new options and focus on male clients.
• It’s an opportunity to save money on advertising while potentially reaching a larger audience.

The post Zoom Is Getting Into Customer Service appeared first on SmallBizTechnology.

The concern over securing digital devices and data doesn’t just apply to sprawling governments and massive corporations. It also impacts smaller entities, including startups and small businesses.

If you’re a small business owner, don’t assume that you’re too small to be at risk. Instead, consider these recommendations as simple-yet-impactful ways that you can safeguard your business against the ever-imminent threat of a cyberattack.

1. Find a good IdP.

When addressing cybersecurity, it’s tempting to focus on the devices and the data that you’re trying to protect. However, another critical angle is the people that are using said content.

Both you and your employees must be able to protect their online activity as they access your company’s database. This can be tricky in a world dominated by decentralized application solutions and third-party providers.

Chances are you already have a wide variety of different tools in your tech stack, each of which requires its own login, passwords, and so on.

This is where an IdP can come in handy. Okta defines an IdP or “Identity Provider” as a service that helps to manage digital identities. Companies can utilize an IdP to help give themselves and their employees easy access to all of the tools or areas of data that they have permission to access.

A good IdP gives you an added layer of security — all while streamlining much of the work that goes into logging in and out of different areas of your digital infrastructure throughout the day.

2. Set up a secure network.

It’s important to safeguard your company’s digital devices, but there’s another line of cybersecurity that you should tend to, as well: your network.

The overarching protection of your company’s network is called network security. The Wi-Fi experts at Plume define this as protecting your larger, web-connected network from the threat of infiltration.

There are many ways to do this. For example, you can encrypt your local network, change your router and admin passwords regularly, and set up guest networks for public users.

If you operate in a physical office space, you can address this easily, as you only need to protect one Wi-Fi router.

However, if you’re like many businesses in the post-pandemic era, you likely have employees working from home, too.

If that’s the case, it’s important to take steps to protect your staff’s home networks and routers, as well. You can start by training them to maintain good digital hygiene (more on that further down.) You can also equip them with dependable routers from companies that are known for their security.

Even so, be aware that it is always more difficult to protect your networks and keep data secure when your employees are working from different locations.

That’s why, along with a safe network, you want to keep your employees’ individual activities as safe as possible, which brings us to our last point.

3. Institute good digital hygiene.

Your data is only as safe as you are when you handle it.

Consider the example of an old-fashioned bank vault. A financial institution might have a vault with thick walls and massive locks. But if an employee opens it up when a thief is present, at that moment, they compromise all of the security that the vault offers.

It’s the same story with data.

You could have an air-tight cybersecurity program in place. But if you or your employees mishandle your devices, it can open up the opportunity for hackers to take advantage of the “door being open,” so to speak.

The best way to avoid this is by instituting good digital hygiene policies. SeaGlass Technology succinctly summarizes this term by explaining that it is the practice of cleaning up both electronic- and information-based assets and keeping them updated.

You can do this in multiple ways.

• For instance, using strong, secure passwords is ground zero for good digital hygiene.
• So is organizing your digital assets, like documents, files, and folders, so that you know where everything is.
• Keeping all of your devices up to date is also critical. This includes installing updates and patches as soon as they’re available.

Digital hygiene isn’t just for the boss. It’s something that all of your employees should be comfortable with maintaining to help keep data secure. Take the time to define what the term means and then train your staff to keep up their digital hygiene over the long haul.

At this point, there are too many cyber threats to keep track of. With so many digital dangers lurking around every corner, it behooves even small business owners to take extra precautions.

The good news is that there are easy ways to do so. Find a good IdP. Secure your network. Train your staff to practice good digital hygiene. It’s little things like this that make the difference when a cybercriminal comes knocking.

The post 3 Ways to Protect Your Small Business and Keep Data Secure appeared first on SmallBizTechnology.

That is to say, the right data choice by the U.S. Congress not to follow the European method of data protection brought enhanced data safety. How did we arrive at this point?

Protection Fails in Europe

Europeans do not report that the restrictions have increased their internet confidence. In reality, most poll respondents in the United Kingdom and Germany believe the GDPR will have a neutral, if not hostile, effect.

According to a new Canadian report, the GDPR imposes a massive regulatory burden on regulators and businesses. The GDPR apparently harms small and medium enterprises (SMEs) and increases consumer complexity. Similarly, it includes frustration with endless pop-ups and “consent fatigue,” reduces innovation, and obstructs cross-border commerce.

The lack of EU-based digital businesses development might be a significant indictment of the GDPR. Today, Europe accounts for just 3% of global internet value, and it is on the verge of being surpassed by Africa. Meanwhile, Google (Alphabet), Facebook (Meta), Amazon, and TikTok, a Chinese app, have expanded their market share and profitability in Europe.

The California Consumer Privacy Act (CCPA) has GDPR-style standards, and its high compliance cost is a small company killer.

Fortunately, a realistic solution protects consumers without putting undue strain on businesses and regulatory agencies. The Uniform Law Commission (ULC), a non-profit organization comprised of 350 commissioners selected by the different U.S. states, prepares model legislation to offer consistency and clarity to contradictory state and federal laws.

During the pandemic, hundreds of data protection stakeholders, including ULC commissioners, worked to establish a model code known as the Uniform Personal Data Protection Act (UPDPA).

Protection of Customer Data Needs a Wake-Up Call

The Act establishes fair information practices (FIPPs) for collecting and using personal data. It also specifies compatible, incompatible, and forbidden data use. The Act protects and ensures that consumers have a reasonable cost to regulators and businesses.

The risk-based approach, which balances the interests of consumers and companies while allowing for flexibility and innovation that may benefit consumers, is critical to the UPDPA’s effectiveness. Its emphasis on entities that “keep” data as part of a system of records about individual data subjects for retrieval for customized communication or decisional treatment is a fundamental limiting concept.

For example, there are fewer data breaches before small business audits than after. Another benefit of the UPDPA is that it creates a safe harbor for low-risk suitable activities that do not need permission. These behaviors are in the person’s best interests and are within their reasonable expectations.

For instance, two examples are leveraging location data for a community’s COVID risk assessment and targeted advertising while accessing free content and services. Small businesses are exempt from the UPDPA for practical reasons. The Ukraine offers a grim example. No one wants to repeat these mistakes.

A Requirement for Consent

A requirement is consent for practices that pose a risk. Technology for small businesses always carries risks.

When sensitive personal data is breached — such as race, religious belief, gender, sexual orientation, citizenship, immigration status — it’s legally actionable. Even more so for financial account numbers, Social Security numbers, government-issued identification numbers, and real-time geolocations. Criminal records, medical diagnoses, or information about children under the age of 13 is also a growing risk.

Prohibited behaviors include shame, ridicule, intimidation, harassment, or identity theft that is carried out without appropriate security. These might result in financial, bodily, or reputational damage. Selling personal data for marketing purposes is an incompatible activity as well.

People also have the right to a copy of personal data and the ability to rectify and change it under the UPDPA.

Data controllers must follow a clear and easily accessible data privacy policy that discloses the types of personal information kept, notification of practices, procedures for responding to data subjects’ rights, applicable state and federal laws, and any voluntary consensus standards (VCS) they use.

VCS is a collection of user-developed, bottom-up tailored rules for specific applications, services, and contexts. Therefore, the office will notify the appropriate attorney general if they encourage innovation and standardization for the sake of online data protection.

Oklahoma, Nebraska, and the District of Columbia have already enacted the UPDPA. The Act allows states to include enforcement measures from an implementing state’s existing consumer protection law.

However, state attorneys general may issue regulations to execute the Act. They are expected to work together to promote consistency in enforcement. Private action delays the adoption of federal internet data protection laws. The UPDPA leaves that up to each state.

The post Data Protection: A GDPR Update appeared first on SmallBizTechnology.

Every few years, the speed of the digital revolution accelerates. We are now in one of these eras. For fraudsters, the future of fraud looks bright, but for those of us who rely on technology, it’s a never-ending struggle to protect assets.

A genuine present meets a very futuristic future in Experian’s Annual Fraud Forecast for 2022. Like the now-iconic and authentic Tinder Swindler, cybercriminals build each new scam on a new habit. Fraud is always an antidote to action.

NFT? Metaverse? Exercise caution.

In his now-viral YouTube video Line Goes Up, Dan Olsen characterizes the present hoopla surrounding NFTs as a poverty trap.

The creation of the rich and winners puts newbies at risk. Dan says cryptocurrency is a larger fool scheme, where users must encourage others to participate in recouping their investment. This inevitably causes price increases in the small business technology sector.

According to Juniper Research, merchant losses due to online payment fraud would total $206 billion between 2021 and 2025. That’s why organizations need to invest in fraud protection systems to avoid future frauds and losses. Businesses and consumers must be mindful of fraudsters’ ingenuity and agility in our digital-first era, said Kathleen Peters, North American chief innovation officer at Experian Decision Analytics. They use data and sophisticated analytics to assist companies in detecting fraud and safeguarding customers. The way we pay for goods has changed, and it hasn’t only gone more online.

The way we pay increases our vulnerability to fraudsters.

Paying for internet purchases in installments rather than buying everything at once is becoming more popular. These companies didn’t invent the notion. They use credit and installments only for significant transactions.

As a result of making smaller transactions more appealing, in 2021, 45 million BNPL customers will spend over $20.8 billion. Since 2018, the industry has grown above 300 percent annually.

Then there’s Bitcoin. Record investment and hype naturally lead to record frauds.

From October 2020 to March 2021, the FTC recorded over $80 million in Bitcoin fraud losses. Suddenly, a $4.5 billion crypto laundering plan operated by a husband and wife team with a rapper alter ego dubbed Razzlekhan surfaced. Netflix has everything it needs for its next real crime documentary.

Confusion provides an opportunity for malfeasance.

Because cryptocurrency is so new, people will use it to extract, store and hide stolen assets. The size of the business doesn’t matter.

Cryptocurrency is very confusing, says Tina Mulqueen, creator of The Block Talk and Admonsters’ Top Women in Media for 2021.

Fraudsters will exploit any uncertainty. We witnessed that with ICOs and now with NFTs. There are good projects, but investors need to educate themselves about the market. It shouldn’t deter people from using cryptocurrencies, investing in them, or even investing in blockchain.

But it takes practice. The initial measures are to utilize several levels of verification and a hard wallet or “cold storage.”

Decentralization is an intriguing notion since using blockchain — hundreds of online ledgers to verify anything — makes it more verifiable. But customers dislike being misunderstood. It’s the same reason most parents don’t want their kids on TikTok.

Blockchain and crypto will expand. We recently had the first “Crypto Super Bowl” in terms of advertising. BMCS established the first Sumcoin Index Fund last week, effectively one coin that follows the Top 100 cryptocurrencies based on market capitalization.

The metaverse will expand opportunities for fraud.

Then there’s the metaverse, which is currently only partly known.

The idea of effortlessly engaging in a virtual environment isn’t new. They already sell marketers on new income streams from virtual shopping experiences and digital products.

If our workplaces become part of the metaverse rather than simply a Zoom screen, we need to make sure our meta identities mirror what we want to show to the world, our coworkers, or anybody else.

We’re already living in a metaverse of sorts.

For example, this happens if your child plays NBA2k. They play, earn virtual cash, and spend on character costumes, traits, and haircuts. As characters in an evolving online realm, they compete against other online rivals. It’s a pretty basic metaverse.

But it also makes you more aware of the deception.

In the new Horizon Worlds app, parents are already worried. We can already observe concerns with identity fraud in the metaverse. The uncontrolled market for purchasing and selling NFTs will witness significant scam efforts.

It’s impossible to build long-term wealth in crypto and the metaverse. This argument is from Alan Smithson, co-founder of MetaVRse and co-creator of the metaverse’s first mall, set to debut in 2022. Smithson also developed the Metaverse Manifesto, which describes future XR ethics.

Building the future of human connection, cooperation, culture, and commerce requires more responsibility.

The now requires alertness.

Even if the attention shifts to new digital behaviors, ransomware is still a significant problem.

The FBI’s Internet Crime Complaint Center estimates a theft of $133 million between January 1, 2021, and July 31, 2021. The Financial Crimes Enforcement Network (FCEN) reported $590 million in ransomware activity in the first half of 2021, compared to $416 million in 2020. Remember The Tinder Swindler, the cautionary story (no spoilers).

People could create intimate reliable connections without meeting in person since more people used dating apps and social media to find love during the epidemic. A rise in romance-related scams certainly was inevitable. Con artists take advantage of romantic connections to beg for money or a “loan” to pay anything from a vacation to medical expenditures. Nine Perfect Strangers on Hulu highlights this vital story (again, no spoilers).

The key is never to let your guard down, whether in business, cyberspace, or personal concerns. It doesn’t hurt to think like a fraudster in an increasingly virtual world.

The post Opportunity For Fraudsters Digital Dependency appeared first on SmallBizTechnology.

In most cases, being the boss is ideal and can lead to many fewer headaches. However, as the person in charge, if you come down with an illness, it’s bad for your small business. And owning a small business can be stressful.

Heavy stress leads to an immune system that is not as strong as usual. Therefore, you are at risk of getting sick more easily. Obviously, you do not want your small business to be abandoned if you get sick. So, here are some tips to keep yourself healthy.

1. Focus on getting good sleep.

Above all else, make sure you are getting an adequate amount of sleep each night.

A lack of sufficient and quality sleep can lead to a huge number of health issues. Poor sleep can cause lessened cognitive reasoning, and even put a strain on your heart.

Owning a small business can be exciting, and starting one can have you busier than you ever thought possible. Sleep may be the farthest thing from your mind in many cases, visit http://affectivebrain.com/?attachment_id=5775. You may be putting in the long hours to see your business grow and thrive.

But if you are getting a good night’s sleep during the grind, eventually your body will catch up to you. When that happens, you will get sick and be forced to take the rest you need.

2. Keep eating healthy.

Time is going to be the one thing you wish most that you had more of. However, as a small business owner, do not allow that to cut into how you are taking care of yourself.

You may not have time to cook or sit down and eat every time you get hungry. And yet, you need to try to continue to pay attention to what you are eating.

Fast food and gas station snacks will not allow you to maintain a full workday energy schedule for very long. Healthy, convenient choices are easy to find if you know where and how to look.

3. Take time for yourself.

You may be thinking that giving yourself a vacation is not going to be possible for years. Yet, it is crucial to maintain your health while you are growing your business.

You do not have to plan for any extended time off. Instead, taking a small amount of time for yourself daily or even weekly will help keep you healthy.

If necessary, schedule this time into your calendar along with everything else. Give yourself an hour of meditation, a yoga class, or even just a walk outside in the sunshine.

4. Pay attention to the warning signs.

It can be easy to get wrapped up in the excitement and overwhelming to-do list of owning your own business. Yet, when burnout happens, it may happen quickly and unexpectedly.

If you’ve been feeling run-down or achy lately, it may be your body trying to tell you something. Perhaps you’re coming down with a cold and you’re overdue for some rest and relaxation.

Or maybe you decided to forgo using protection that one time, thinking it wasn’t that big of a deal. If this is the case, you should schedule an appointment with your doctor–or at the very least use one of the latest in at-home test kits. Through advances in technology, you can take everything from a fertility test to a vitamin D test to a testosterone test at home.

Preventing this type of illness from getting worse will help put you back on the right track for optimal wellness.

5. Exercise and hydrate.

You do not have to stick to a rigid exercise routine to get the benefits of exercise daily.

Even a ten-minute walk has been proven to lower stress levels and improve fitness if you make it a habit. Exercising may also help you focus, sleep better, and stay on the packed schedule you set for yourself.

And while you are exercising, or even if you aren’t, do not forget to hydrate. You would be amazed at the list of positives that comes with having a well-hydrated body.

Being a small business owner does not have to be all about stress and a never-ending to-do list. Put some work into yourself at the front end. Doing so will allow you to put more work into your business in the long run.

Plus, it will help you continue to feel your best throughout the exciting process of building your business.

The post Five Ways You Can Stay Healthy As a Small Business Owner appeared first on SmallBizTechnology.

The pandemic has wreaked havoc on businesses payments in ways our history has not seen in decades. Long-standing business practices are outdated overnight, causing businesses to scurry. The digital age may not be kind to your business.

Now, employees must work remotely when social distance regulations are fully implemented, and offices are shuttered. Organizations use digital technology in huge numbers (and at unprecedented rates) to adapt. Companies cut three to four years off digitalizing their customer engagements, supply-chain connections, and internal activities. Consequently, their digital product deployments sped up by an incredible seven years.

People still feel the ramifications of this massive transition inside enterprises. Consequently, the payments landscape is finally changing after a lengthy period of stagnation.

B2B Payments Require a Makeover

Historically, businesses have been hesitant to change their payment methods, citing privacy and security issues and a general lack of demand.

Many businesses still use paper checks as a means of payment. Alternatives to paper payments that coexist alongside checks include the Automated Clearing House (ACH), wires, and cards, but each has its own set of problems, as you’ll see below.

Circumstances are pushing B2B firms to fix old payment mechanisms. These mechanics no longer operate in this digital age due to the arrival of this virtual world.

Businesses today want their payment systems to provide more payment alternatives and process transactions more quickly. Convenience is becoming a need. Modern B2B payments must be rapid, simple, and frictionless, like consumer purchases.

Significant advances in internet security and privacy are assisting in alleviating many of the worries that companies previously had. That is to say, particularly as they pertain to eCommerce and e-payments.

Digital Payment Methods Are Becoming More Global

As the shift from conventional to online commerce gains traction, small business payment solutions must evolve to keep up.

Consumers in the business world are clamoring for contactless transactions, which will increase by 41% by 2020. With such a linked world, contactless payment alternatives are internationally oriented.

With antiquated and sluggish systems, this desire still falls flat.

Technology has started to close the gap through internet apps by allowing for more frictionless and instantaneous cash transfers. While costs for calculating exchange rates, digital wallets, and other eCommerce payment methods may still exist, these solutions are less expensive than credit cards.

Furthermore, other methods such as ACH and wire enable money to be sent considerably more quickly. Machine learning and artificial intelligence (AI) will push the frontiers of banking.

That is to say, as technology continues to find its way into the payments sphere. Consequently, producing a far more fair playing field throughout the world.

Artificial Intelligence’s Ascension

The emergence of artificial intelligence in the workplace could not have happened at a better moment.

The pandemic has resulted in a substantially smaller workforce, which is regrettable. Leaders must simplify tasks for more innovative work with fewer team members. AI provides for a smaller workforce while simultaneously lowering the margin of error.

More mundane duties, such as payment posting and remittance monitoring may be done promptly and perfectly by technology. That is to say, we can automate things that are prone to human mistakes.

We may also train AI to do higher-level jobs like payment behavior analysis, which takes time and effort. Artificial intelligence (AI) for analysis gives immediate feedback on payment patterns and payer behavior.

Use of AI by accounts receivable teams to streamline the whole payment process, eliminate human error, and reduce cybersecurity concerns.

B2B BNPL (Buy Now, Pay Later)

BNPL has lately been seen in B2B sectors. The BNPL option reaches a far larger audience of customers, those people who would not have been able to buy in the past owing to a lack of cash or credit.

The controlled and regular installments — typically with no extra costs — also increase the amount spent on every transaction. The “loan” does come with a bit of a fee for the seller.

Still, with AI’s advancement, they may conduct a thorough risk assessment based on a customer’s previous transaction data to ensure payback. This is another example of artificial intelligence (AI) revolutionizing the payment industry.

Cryptocurrency’s Function

Payment choices are multiplying due to the emergence of AI and the slingshot effect of the pandemic.

Don’t overlook cryptocurrency when contemplating the future of contactless digital payments. Although there has been an increase in digital payment choices in the last year, we will require a greater emphasis on worldwide solutions.

While digital wallets and QR code payments are convenient, they can have drawbacks. These payment alternatives are related to specific financial institutions and operate in local currencies.

Instead, Bitcoin employs decentralized finance (defi), eliminating the need for private institutions or third-party intermediaries. Furthermore, cryptocurrency’s single currency would remove the need for complicated currency conversion formulae.

Of course, like with everything, there are hazards to consider. Cybersecurity is a significant problem because the whole procedure and currency are online. There is still a lot of progress before the world adopts cryptocurrency and defi, but it is the way of the future.

A crucial conclusion from the pandemic’s digital breakthroughs is that technology evolves at breakneck speed. To be relevant, businesses must stay ahead of the curve.

As your business grows, look to technology for a more streamlined approach to payments and a lower margin of error.

The post Payments: The Potential Impact of Business Technology appeared first on SmallBizTechnology.

It’s now or never to move your automation marketing to the cloud and gain added security.

According to marketing expert Clare Price, global corporations have been investing in automation for decades. During the epidemic years of 2020 and 2021, that investment paid off handsomely. During the early lockdowns, companies were able to swiftly convert to remote work thanks to automation. Price is the founder and CEO of Octain Growth Systems, a worldwide strategic planning consulting organization that helps businesses increase profits, productivity, and operational efficiency.

Because they had the automatic systems in place, she says, major organizations were in a better position for the hybrid work environment, which includes both in-office and remote employees. Small businesses and solopreneurs, according to Price, did not do as well. When the lockdowns came, they had to scurry to regain momentum.

What’s the end result? Small company owners increasingly see the value of automation in driving operational efficiency in their businesses, adds Price. Today’s technology can help company owners and marketers in any sector move all or part of their activities to the cloud. The following five marketing functions, according to Price, should be automatic.

Appointment Scheduling

Taking your appointment scheduling online allows you to escape the monotony. It provides clients with flexibility and ensures that your time is inviolate when you need it. These are definitely worth a look.

Individual client appointments may be done using calendaring software such as Calendly and Calendarwiz. Try TimeTap for a more comprehensive appointment-setting solution, as well as virtual administrative help for class scheduling and training. Multiple locations, class scheduling, customizable booking forms, and automated payments are all in TimeTap.

Simplybook.me is a professional services booking system that includes online booking, alerts, payments, and marketing incentives such as discounts, gift cards, memberships, and product sales. SimplyBook.me also provides a presence in their professional services directory.

Automation Software for Creating Proposals

Invest in proposal software if your organization sends job proposals manually. Particularly in professional services. Proposal software not only reduces the amount of non-billable time you spend crafting your proposal, but it also keeps track of the prospects’ responses by recording when, what, and how they look at what you supplied them.

Instead of guessing and sending blind follow-ups, imagine knowing when your prospect read your proposal. Imagine knowing which pages piqued their interest.

Was it because of the advantages? Features? Pricing? Knowing this will let you deliver a follow-up message that is tailored to their individual interests.

Proposal tools such as PandaDoc, Proposify, and BidSketch may help you achieve just that. The majority of them provide a limit-free free version or trial. This can help any small business.

Systems for Email Marketing

If email marketing is your major marketing strategy, there are a plethora of efficient and low-cost options available today.

Many basic marketing operations are automated by marketing automation software, allowing your team to thrive in demand and lead creation. Email marketing systems to sophisticated demand and lead generating and prospecting platforms are all available. Marketing automation is an important part of digital and social media marketing’s success.

Management of Customer Relationships (CRM)

One cloud sales enablement tool that no company should be without is a solid CRM solution.

Building customer connections is at the heart of CRM software solutions. They allow your sales force to engage with prospects and monitor their interactions with your company. From start to finish. Contact management, lead management, opportunity management, and sales forecasting are all features of CRM systems.

Integration with Marketing Automation Systems

To make remote work succeed, you must keep customers pleased by providing a consistent customer experience (CX) to each client. They anticipate receiving assistance as soon as possible via a variety of channels and gadgets.

Every provider must now provide an Amazon-like experience to their customers. In today’s trying circumstances, phone and email help are no longer sufficient. With two online CX investments, every small company owner can drastically improve their customer service experience.

Live Chat

Live chat transforms your website from a static informational resource to a real-time customer support center. It helps you to cut reaction times down to seconds rather than hours.

Most significantly, it aids in the growth of your business. According to the American Marketing Association, B2B organizations that employ live chat witnessed a 20 percent boost in conversions on average. Live Chat, ZenDesk, and Olark are the three suggested live chat software options.

Simply said, automation provides both top-line and bottom-line advantages that help your team, no matter how small, increase earnings, productivity, and efficiency.

The post The Best Marketing Automation Tools for SMBs appeared first on SmallBizTechnology.

For example, WeWork, a co-working space company, announced that they’d no longer serve or buy meat products at their professional events. Further, companies such as Starbucks have issued statements regarding the non-use of plastic straws to tackle plastic pollution.

Embedding sustainability efforts have a positive impact on business performance. In fact, 80% of customers prefer to buy products and services from companies with a proven record of sustainability regarding reducing their carbon footprint.

Developing an environmentally conscious workplace begins with your employees as your people must believe in your vision and practice sustainable activities before anybody else does. However, getting them excited about simple eco-friendly activities such as putting waste in a bin, saving electricity, etc., is not an easy feat.

Why? Because many don’t care or say that it’s not their responsibility. Or maybe they care but say they don’t have time for it.

So, if you want to take your sustainable strategy to another level, getting your employees involved is crucial for its success. There’s no fixed strategy to engage employees — different techniques work in different situations as companies have different cultures and visions. But, there are a few powerful ways to engage your employees in the company’s sustainability mission. Let’s get into these.

How to Engage Your Employees to Embed Sustainability Internally

Here are five ways to engage your employees for embedding sustainability internally, not just on Earth or Environment Day, but every day.

1. Refine your brand’s long-run mission to include sustainability goals.

All companies have to earn profits to remain in the business, regardless of how it makes those profits. But, the thirst for profits has resulted in the destruction of natural resources and people, especially the most vulnerable populations.

So, the first tactic to engage employees is to ensure that the company’s long-term objectives are aligned with doing good to the people and the environment while also earning profits.

Every organization should define a clear, long-term social purpose in their overall strategy and reflect it through their brand and products.

For instance, in 2010, Unilever announced the Unilever Sustainable Living Plan (USLP). It’s a roadmap for the organization’s growth strategy that explains how the company’s success depends on the success of the people and their environmental impact. This plan outlined three key goals:

• Enhancing the well-being of over a billion people by improving their overall health.
• Bettering the financial livelihoods of millions of people in Unilever’s supply chain (such as farmers).
• Reducing the environmental footprint of the company’s products.

The organization’s social purpose enables employees to tap into some great opportunities to use the brand as a means to express their values and create something meaningful — in and out of work.

In short, this helps them understand the main motive behind the work they do.

2. Impart sustainability knowledge and competence.

If employees want to support their organization’s sustainability initiatives, they must know what sustainability is and how it can benefit society, the planet, as well as the company as a whole. Thus, providing sustainability knowledge and training is crucial in bolstering a “can do” attitude towards creating a sustainable culture.

Many companies feel that only people with “CSR” in the job titles require sustainability training. However, that’s not the case anymore. Professionals at all levels can benefit from sustainability and social responsibility knowledge, such as managers, leaders, consulting professionals, and entrepreneurs.

Companies such as IBM, Marks & Spencers, and Nestle have invested a lot in sustainability training, tools, and systems so employees can learn and apply sustainability in their work.

Here’s how you can train your employees:

• Host casual meetings over lunch, conferences, seminars, and online training to discuss the different topics on business sustainability. Ask them about their opinions and tips on contributing to creating a sustainable culture.

• Involve employees when creating relevant, sustainable policies for the company. This way, they will feel that their opinions are valued, increasing their morale and productivity. And, you can get some new ideas for improving your sustainability initiatives, which brings us to the next point…

3. Cocreate sustainable brand practices with employees.

Another effective way to engage employees in sustainability is to involve them in creating sustainability programs.

When companies act on even the smallest idea shared by the employees for the sustainability initiative — such as switching to using digital signatures or investing in office plants — they feel like a vital part of the organization. This, in turn, boosts their morale and loyalty towards the company.

Not only that, companies get a plethora of better and new ideas when they consider the workers’ suggestions. However, employees might hesitate to provide suggestions, especially if their ideas have been ignored in the past.

Therefore, it is essential to provide the right environment where employees can come together and get comfortable sharing their ideas. This might take time but is worth it in the long run.

One way to do this is by creating a green team. A green team involves employees engaged in improving the company’s sustainability.

Here, your employees can share their ideas freely and make decisions regarding their implementation. You can also gather more ideas during periodic staff meetings or send out an employee survey.

An excellent example of this is Marks & Spencer. An employee suggested placing clothes-recycling boxes in its stores to provide income for the International Oxfam movement. The idea was highly supported by the board and achieved tremendous success.

4. Gamify sustainability adoption.

Want to make your employees sustainable while entertaining them? Gamification is your best bet.

Nowadays, many organizations have started turning to gamification to engage and influence their employees and participate in sustainable initiatives. Basically, it uses gaming elements such as rewards and points to boost employee engagement in various activities.

Plus, it makes learning and training more interactive and fun.

Microsoft created the “One Drop of Life” app to raise awareness of the global water crisis among users. In this app, players have to navigate a water droplet through a maze full of twigs, leaves, and toxic waste to reach the collection of droplets.

If the droplet touches any garbage, it will become contaminated, and the game is over. At the end of each round, a factoid bubble appears, mentioning a fact about global water shortages. Such apps and games help employees learn about global issues and develop ideas to tackle them.

Furthermore, creating point-based leaderboards is an effective technique that appreciates the employees who participated more often in the company’s sustainable initiatives.

WeSpire has created a gamification platform where users earn points for completing various sustainable actions. For example, using eco-friendly products, recycling, or coming to the office via public transport.

Points are displayed on the leaderboards and shared on Facebook, inspiring positive change in others.

The platform has become a massive success that companies like Sony and McDonalds use to introduce their sustainability challenges to their employees.

5. Make your sustainability efforts visible.

Today, more and more companies are becoming eco-friendly, but they don’t provide any specific information on how they’re making a positive change for the people.

Also, announcing that sustainability is essential and doing nothing about it is a major step towards failure.

If you want to truly incorporate sustainability in your organization, you have to show it to others, including your employees.

From the hand soaps, paper towels, and toilet paper in employee bathrooms to whether or not you’ve installed durable, commercial-quality EV charging stations for businesses in the parking lot, these decisions create a domino effect.

Visibility plays a crucial role in changing employees’ beliefs and influencing them to contribute to various sustainable initiatives.

One way to boost visibility is to have clear indicators that you are tracking and sharing the progress with the employees — whether by posting updates on the employee news channel, communicating it in the regular meetings, etc.

Only when the employees understand your sustainability efforts and how you’re moving towards them will they be more enthusiastic in contributing towards the same.

Furthermore, it is also necessary to celebrate successes — both big and small. Employees must feel that they have played an enormous role in achieving the company’s goals.

Symbols and signage are also effective tools to grab people’s attention towards the company’s commitment to sustainability. For example, Marks & Spencers has put up numerous signs to encourage their employees to take the stairs instead of an elevator, even if for a few floors only.

Wrapping Up

Sustainability initiatives are excellent for the people and the planet and also for boosting workplace morale. Including your employees in your ecological vision and influencing them to participate in different sustainable initiatives can go a long way toward making them satisfied and great ambassadors for your company.

The above tips can help you engage your employees, helping align their personal goals with those of your brand.

Equip them with the tools and tips to practice sustainability. Show them how their contributions help towards a greener world. When they feel proud for bringing a positive change, they’ll become more driven to work.

The post 5 Ways to Engage Your Employees for Building a More Eco-Friendly Brand appeared first on SmallBizTechnology.

The IRS published tax guidelines restricting the scope of section 1202. Section 1202 allows taxpayers to exclude capital gains from the sale of QSBS provided specific requirements are satisfied.

This is one of the IRS’s strictest gain exclusion rules. Will it impact the growth of small businesses?

The latest recommendation was CCA 202204007 (November 4, 2021), which went public on January 28, 2022. This guidance comes from the IRS Office of Chief Counsel in Washington, D.C. To avoid fines, taxpayers must have “substantial authority” for the tax treatment of an item.

Significant authority correlates to a 40% success rate. Filing that document with a tax return is like waving a red flag in front of the IRS and requesting to be audited.

CCA

CCA taxpayers sold appreciated stock and claimed capital gain exclusion under section 1202.

The CCA examines whether the firm is involved in a qualifying trade or business (QTB). Except for those designated in section 1202(e), every company is a QTB (3). The applicable exclusion is for “brokerage services.”

The IRS decided that the taxpayer was not a typical broker since it did more than an intermediary. The judgment narrowed the brokerage services exception, allowing more taxpayers to qualify for the QSBS deduction.

Officials summarized this judgment before.

Potential lessees utilize the site to make nonbinding reservations for particular amenities. Likewise, once a lessor and lessee have agreed, they sign a lease agreement and make all lease payments online. The website also hosts web pages for lessors to use to lease their facilities.

Brokerage Services

The IRS found the company’s business of administering the website includes “brokerage services” based on these facts, which may surprise the taxpayer. After all, the firm acts as a mediator between lessors and lessees, which is exactly what a broker does.

The IRS concluded that neither section 1202 nor case law defines “brokerage services.”

It next examined the definition of “broker” in the dictionary and other sections of the Internal Revenue Code that provide similar exemptions for brokerage services. The IRS defines a broker as one who works as a middleman and one who is hired by another to negotiate contracts or act as a mediator, particularly between potential buyers and sellers.

The IRS noted that there are different types of brokers. Just because you don’t usually get the reference as a broker does not exclude the likelihood you are one.

The IRS looked up similar tax rules. One section on information reporting described a broker as “anyone who routinely acts as a middleman about property or services” for a fee.

Although the requirements in that part restrict information reporting to brokers who only deal in specific kinds of financial assets, the IRS concluded that the definition of a broker remained wide enough to extend to the company’s internet activities.

The law also contains a broker ordering regulation that applies to different brokers. As used in this regulation, a real estate broker is in charge of concluding the deal, as well as the seller’s and buyer’s brokers.

IRS Rules Tax Provision

For example, a taxpayer provides brokerage services to perform customer transactions and is compensated based on actual trades.

The business operates as a mediator, connecting buyers and sellers, and does more than merely passively display ads on its website. It also does not present consumers with content or targeted advertising based on their search history.

In exchange for facilitating lease agreements between prospective lessors and lessees of real estate, the firm charges a fee.

The CCA is the IRS’s sixth QTB declaration and the first to declare the company is not a QTB. The circumstances of the CCA do not favor the taxpayer. As a result, it is difficult to claim that the new guideline constitutes a paradigm change at the IRS.

The implication appears to be that the IRS is scrutinizing QSBS exclusion claims and will not hesitate to challenge taxpayers’ claims. Taxpayers requesting a QSBS exclusion should record their share and engage with their consultants to ensure sound arguments.

Tax Yourself…to Protect Yourself

In conclusion, tax yourself first. Before the Treasury Department has to do it for you.

However, this means good bookkeeping and excellent data retrieval ability. Use a cloud platform you can trust. If you can’t do it yourself, hire or outsource it.

The rules change constantly. If you can’t keep up, get an expert. Fines and interest on taxes mount up fast. Don’t get caught in that trap.

The post IRS Limits QSB Stock Tax Exclusion appeared first on SmallBizTechnology.

Why spend time on an organizational chart when the world is coming apart?

That is an excellent question. Most firms see it as a time-consuming corporate activity. And, in the aftermath of shutdowns and a pandemic, it’s more complicated than ever to figure out who is responsible for what.

We all had to make a significant shift in our workplace in 2020, and it seems like everyone has had the same job description since then, namely “additional responsibilities as appropriate.”

Should small companies bother with an org chart in this day and age, when the world and our enterprises are constantly changing? By the way, how’s your tech branding coming along?

Here are several contradictory facts, as well as a preliminary conclusion.

Appropriate business requires reasonable limits. People have seen that clear lines of duty and procedure differentiate the best from the others.

That’s what an effective organizational chart does. Chaos reigns supreme when there are no limits.

Clarity has a nice side to it.

Org charts might be challenging to create, but they give definition and clarity. The loudest voice triumphs when no one understands who reports to whom and who is accountable for what.

And the most pressing need receives attention, even if it is a different voice and a minor requirement.

Is there another advantage? Coworker relationships benefit from clear limits.

How are you navigating The Great Resignation?

And while we navigate the Great Resignation, wise leaders will do everything possible to keep their teams together.

Tight limits result in an inflexible corporation that cannot adapt to changing times and crises. During the chaos of 2020, thousands of firms needed assistance with staffing, payroll, and other pivots.

Agility was a common denominator among the firms that survived (and even thrived) throughout that year. They could all shift, which meant abandoning the formality of “the way we’ve always done things” and the statement “that’s not in my job description.”

The downside of organizational chart technology is that it might make the team excessively inflexible, which doesn’t work in an era when agility and flexibility are becoming more critical.

So, the issue is whether to use an org chart or not. It would be nice to provide a general response because, you know, each team is different.

What works for your team in 2021 may not work in 2022. It’s an art, not a science, to set reasonable limits while avoiding rigidity. And technology can help.

Do employees understand their roles and how the organization runs as a whole?

Is your company’s organizational chart assisting or limiting your ability to complete tasks in a changing environment?

Is it a servant who helps you be more productive or a master who hampers you?

Teams are living entities that evolve throughout the season. Every year, ask yourself these questions.

You’ll figure out the solution and be able to lead your squad to the most excellent decision for the season.

Consider employing QR codes to get feedback from customers.

Almost all customers do internet research before selecting to deal with a company.

An astonishing 79 percent of customers believe internet evaluations of local companies are as trustworthy as personal recommendations from friends or family!

When it comes to a lack of online evaluations for companies, the technology-driven world we live in today provides no room for error.

Getting 72 percent of customers to agree to submit an online review is as easy as asking them and providing a direct link, but how can a company owner be sure that the consumer will follow through? After all, time presses consumers.

QR codes make things easier for everyone.

Convenience is the solution, as it is with almost everything else in the realm of customer service.

No matter how pleased consumers are with the service they received, they are unlikely to look for the company online and submit a review. Some customers may not even know how to use the internet to offer favorable comments.

By using QR codes to collect client feedback, you may prevent these issues from occurring in the first place. Here are three compelling reasons to use QR codes:

• QR codes may be placed everywhere your consumer could view them. They can scan them quickly and easily.
  • Place a QR code on the front desk if you have a physical location.
  • If not, you may place your review-gathering QR code on the side of business cars, on stickers or magnets, or even as wallpaper on your technicians’ phones so clients can scan it after service.
• You may customize QR codes to direct people to the relevant website, whether it’s Google, Facebook, or Yelp, depending on where your company would benefit the most from a review.
  • This is also an excellent approach for a company to see which QR codes clients are more likely to scan.
• QR codes are becoming more popular and helpful.
  • According to a Statista poll conducted in June 2021, 45 percent of U.S. consumers had used a marketing QR code in the last three months.
  • 59 percent expected them to remain permanent.

Why wouldn’t small companies embrace the convenience and accessibility of QR codes to promote good internet reviews?

Who can read QR codes if they don’t have a smartphone?

Even if QR codes get wide use for business and consumer convenience, there will always be a few skeptics.

That’s OK. We all want to make life simpler for our consumers, even those who don’t have smartphones or aren’t acquainted with QR codes.

To avoid any complications, having an employee assist these consumers through discovering your company listing online and getting to the correct page is an intelligent solution.

Using QR codes to generate online reviews is one method to profit from their growing popularity. The fact that 87 percent of customers read evaluations of local companies online should be a primary focus for your small company in 2022.

The post Use an Organizational Chart or QR Codes for Reactions? appeared first on SmallBizTechnology.

The top priorities for 2022 are to use new technology, automate drudgery, communicate clearly, stay organized, find your best project match for your pipeline, and actively build your network. Sounds like a great plan, right? Let’s jump in.

Adopt New Technologies

What’s your favorite way to communicate with prospects, clients, subcontractors, and suppliers? In the last year, we’ve all had a crash course in using Zoom, GoToMeeting, or Microsoft Teams to keep in touch.

Technology has evolved and so have expectations. More businesses are now looking at ways to adapt systems, build skills, and increase comfort with using new technology. Technology is a key growth trend that is poised to only increase.

Automate to Thrive

Speaking of stuff you hate, avoid, or procrastinate doing…take a look at automating your workflows. Consider ways to automate tracking construction project leads, invoicing, payroll, insurance, and state-specific requirements.

There’s no need to spend extra hours slaving over the forms, or losing a valuable weekend with your family because you’re stuck at the office doing paperwork.

Communicate to Succeed

Using technology and automating your workflow are key components to success in the New Year. Whether your company is a tiny one-person shop or a multi-state operation, effective communication is key to your success.

As you look for ways to boost communication skills, practice thinking about the person who is receiving the information. Many communication experts suggest that the key is simplicity. Speak in short sentences. Write clear and concise emails. Take the time to ensure that you don’t leave any room for error or misinterpretation.

Whether you are communicating within your office, sharing information with your team, or submitting a proposal, your efforts in communication can make you stand out above the competition.

Stay Organized With Project Pipeline Leads

As demand increases, so do the requirements to stay organized. After all, if you’re managing multiple projects in multiple states, you need to have all your projects, contractors, subcontractors, and suppliers in an up-to-date database.

But what if organization isn’t your thing? The fact is that a lot of business owners need to have the support of administrators, data managers, and analysts to thrive. If you know you are not the right person for the job, hire staff who love to do the stuff you hate.

Find Projects In Your Area

There’s always a toss-up between finding projects and doing projects — especially if you are a solo entrepreneur. Many small business owners find that when business is booming, it’s challenging to actively seek out new projects. You can keep your calendar full of exciting projects by balancing your current workflow with a rigorous approach to finding new projects.

While you’re looking for projects, define your criteria. Start with location, so you can book projects that will support your health, shorten commuting, and enable you to nurture your relationships. Target your main projects to be local within a comfortable commuting distance, so you can maintain a good work-life balance.

Naturally, as you look for projects, consider ones that you are uniquely suited for with your specific expertise and training. Using construction software will help you review project documents online, instead of driving all over the county to talk to construction managers.

Search for the projects that match your specific criteria, such as construction type, project type, and timeline. By focusing your search, you’ll build confidence and strength in finding the opportunities that are genuinely best for you.

As you work to find local projects, use software to stay in touch with other contractors. Streamline your bidding process so you can submit unlimited bids and fill out your calendar with the jobs you want.

Build Your Nationwide Network

As projects become available in diverse areas of the country, it’s essential to build your national network. Many construction managers and subcontractors have relied on a personal network of trusted and vetted peers for out-of-state projects. This may have worked in the past.

However, there are ways to reduce barriers and increase your national network that can help your business grow. For instance, you can consider using computer software built for the construction industry. This technology can help you make important connections, share project opportunities, and stay in touch with the workforce in different locations.

The post How To Keep Your Project Pipeline Flowing appeared first on SmallBizTechnology.

Data is now undeniably a key driver of corporate success. The ability to get insights from the ever-increasing volume and complexity of accessible data increasingly separates market winners from losers.

One of its most effective advantages is its ability to help us better analyze and respond to changing customer behavior.

On a social level, it has helped us comprehend the activities and movements of individuals during the Covid-19 epidemic. In finance, corporations have excelled at recognizing outlier behavior that might indicate something shady is afoot.

A “360-degree consumer view” lets marketers identify people ready to purchase and place items and services directly in front of them.

Data helps address client demands (and catch tuna).

The more you know about your consumers, the better you anticipate their needs. You may also convey it to them in a manner that suits them.

An excellent comparison is tuna fishing. Initially, fleets of boats would set out, with no more information than historical success places.

Our capacity to discover and capture fish increased as technology advanced — first by learning to navigate the stars, then by predicting the weather by meteorology, and finally by GPS and sonar. We can now track fish using satellites and underwater sensors.

Commercial tuna fishers must stay up with the latest technological advances. If they don’t, they’ll be out-fished and go out of business.

Customer fishing follows the same rules. Others will surpass you if you don’t keep improving your capacity to utilize data to locate them and understand their behavior.

What data do you need to know your clients?

Many organizations start with transactional and point-of-sale data. So we can identify broad consumer patterns as well as local preferences.

This helps us build goods and services that consumers will pay for. It also allows us to price our items at levels where we are sure they will sell.

These are also quite precious. We can understand who buys what once we know what individuals purchase.

As usual, combining multiple forms of data is much more beneficial than using them alone. Working with personal data has certain dangers and duties.

Therefore, it’s essential to grasp data governance principles, i.e. how to comply with all legislation and earn your customers’ confidence by protecting their data.

Attitude data is just another basic form of data.

You can obtain this data via simple market research or more sophisticated social media sentiment analysis.

Using artificial intelligence (AI) – mainly machine learning – advanced analytics systems may develop automatic reports showing us who is using our goods and what they say about them.

Customer data collected via schemes like loyalty programs or activity monitoring may also be considered internal data.

You may also purchase consumer data and other external information to get further insights. This may contain economic statistics, GDP growth, climatic data, and local and global events.

One innovative window installer and maker allegedly pioneered a certain practice. He began using publicly accessible data on crimes like vandalism to determine where to best deploy its rapid-response window repair services.

It also combines data from services like Google Trends to identify what people are searching for online. More recent advancements like Facebook’s Custom Audience service utilize people choices. Users may input information about their consumers, and algorithms display their ads to other customers who share their profiles.

Putting all of this information together needs a sophisticated analytics infrastructure.

Target, for example, was able to anticipate when consumers were pregnant before they ever began shopping for baby things. Amazon has lately discussed adopting anticipatory shipping. Currently, this allows it to guarantee things are at the distribution facilities closest to clients, but it aims to ship items to customers before purchasing them.

Observations and micro-moments are the new drivers.

The goal is to capture “micro-moments” — split-second purchase opportunities that exist for just a few seconds but may be tremendously lucrative if spotted and acted on at scale.

Walmart collects petabytes of consumer data, but they consider only the most recent transactions in its prediction engines. Because it recognizes how quickly consumer behavior changes, only current data can tell us what’s occurring now and shortly. Don’t make mistakes. But if you do, learn from them.

A micro-moment is someone getting off an aircraft after a trip. They may need a hotel room, a cab, or simply a meal.

Previously, firms may have anticipated seeing an advertisement in the arrivals lounge. Marketers may now target them with a targeted text message, phone notification, or Facebook pop-up when they check in to let their friends and family know they’ve arrived safely.

Today’s data technology provides firms unparalleled insight into their consumers. We can better forecast client needs by merging transactional, demographic, and behavioral data from internal and external sources.

The post Use Data to Better Understand Customer Needs appeared first on SmallBizTechnology.

Whether it’s energy, water, electricity, or tangible materials, keeping up the efficiency of your small business will make a huge difference to the bottom line. If you pay attention to efficiency, you just may be able to grow and thrive.

Water Efficiency 

It doesn’t matter what kind of business you are in. Water is always a pivotal resource.

You likely need water in your business building or property. If you have an office, you will certainly need to pay for the water bill. One of the ways that businesses of all kinds pay more money for their water is because the mineral deposits and sediments build up in the pipes. To boost the efficiency of your small business, you’ll want to address this reality.

One way to avoid this is to upgrade to a soft water system and reverse osmosis. A commercial RO system is perfect for small businesses of all kinds.

“Reverse osmosis” is the process of filtering out the sediment and mineral build-up that occurs over time. It makes the water softer to the touch, filtered more thoroughly and helps avoid pipe build-up that makes you pay for more water you aren’t using.

Whatever business you are in, a commercial RO system will help lower the bills and use less water.

Lighting

Lighting is another culprit when it comes to bills and waste. You might not need as many lights as you have, and you can also change the bulbs.

LED light bulbs are more expensive, but they will pay for themselves. They last much longer and use a lot less energy. Your bills will be significantly lowered if you change all the bulbs to LEDs

Training your employees to turn off the lights may not be the easiest thing in the world, but if you can get it done and save money it will be worth it.

Of course, you should turn off the lights…but what about other electronics? Can you turn off other devices and unplug them when you aren’t using them? What else can you save money on when it comes to energy?

Operational Machinery

If you are operating a factory or a warehouse, the efficiency of your operational machinery matters.

You should be focusing on creating the best output while keeping the cost of operation down. The energy efficiency of your machines has a lot to do with this. Nowadays you can employ energy-saving appliances and machines for improving the efficiency of your small business.

Of course, it depends on what you’re doing, but if you make the effort to invest in modern machines that cut down on energy usage you will see a difference in the bottom line.

When you are involved in some form of production, spending the time and effort finding the methods to produce your products more efficiently could be the difference between success and failure.

Use Remote Technology

Since the pandemic began, one thing was clear — we weren’t using remote technology nearly enough.

There are many tools that can help you collaborate with your employees, wherever they are. With apps that enable you to work with each other from across the world or simply across the desk, there is no reason to put off work. You don’t need to be in the same room anymore to do just about anything.

Even if you work in a hands-on environment, you probably have employees who are engineers or other staff who work on computers. Administrative staff doesn’t need to be in the room as often as they used to be.

If you aren’t using remote technologies to make your business more efficient, you are missing out on some money saved.

It’s imperative to cut down on unnecessary energy from your employees and your office. Having people work from home will lower your overhead in all kinds of ways, power usage being one of them.

Gas Efficiency 

You might not think of your gas usage as something that needs to be curbed but think again.

The impact your thermostat has on your gas bill, for example, can greatly impact your business. Gas and electric companies typically recommend that you only have your thermostat turned up to 70 degrees in the winter to cultivate maximum energy efficiency.

One thing you can do is install a smart thermostat, which enables you to monitor and control the temperature of your property wherever you are from a smartphone.

Another thing you can do is make sure that the building is properly insulated. You want to control the temperature inside your facility as effectively as you can. Whether the things inside are sensitive or not, it will help you lower your bills and create a more energy-efficient environment.

Opportunities That Boost Your Bottom Line

When you are running a small business, every expense matters.

You need to grow and to grow it’s necessary to keep the overhead as low as possible. It’s necessary to get everything done the right way, but it’s another thing entirely to be wasteful.

Energy Star products, turning the lights off, changing the bulbs, using remote technologies, and plenty of other means to decrease energy and create a more efficient work environment are helpful in all kinds of ways.

Beyond the success of your business is the sustainability of our species on this planet.

No one will be able to have prosperous, happy lives if we continue to waste energy. Water, power, and gas are all valuable resources that we should use sparingly for our own benefit as well as the benefit of humanity. When the prices are cheaper, every business benefits. The money spreads around and we can create more wealth for all.

So, when you are thinking about your business, think about how sustainable it is. If you take the steps to make a sustainable business, you will see the results of that effort in the end.

The post Tips for Boosting the Efficiency of Your Small Business appeared first on SmallBizTechnology.

As your small company continues to expand, you may discover that you need more assistance in the shop or office. However, even if you currently have a few extra hands on deck, increasing your team may need to refine your hiring and recruiting techniques. Consequently, you will discover the most qualified candidates.

However, all organizations are different. So, regardless of how well-developed your hiring and recruitment methods are, it is best to review and analyze your efforts periodically. What does your staff think? Here are five questions to consider while you go about your business.

1. What is your current approach for hiring and recruiting employees?

Your existing hiring and recruitment methods might be as basic as word-of-mouth. What is the current trend?

Your existing hiring and recruitment methods might be as basic as word-of-mouth. Therefore, methods could be as complex as a lengthy application and multi-interview procedure with many rounds of interviews.

Neither is incorrect, but there are distinct requirements for various enterprises. However, determining which technique will bring you the most acceptable candidates for your vacant job is worth your time to think about.

2. What methods do you use to find job candidates?

Identifying and attracting the best candidates is a crucial aspect of the hiring and recruitment technology process.

The more you know about your ideal prospects, the less difficult it will be to attract them in the first place. Consider the methods by which you are recruiting talent and whether or not they are proving to be effective.

For example, if they are not, it may be worthwhile to spend additional time identifying the most qualified individuals for your available roles.

3. Do you invest money in the employment and recruitment process?

However, posting job vacancies might quickly become prohibitively costly.

Have you’ve invested in hiring and recruiting technologies? Maybe you put job postings on job boards. If so, be sure you’re being strategic in your approach to attracting the best people and achieving the outcomes you want.

If this is not the case, it’s time to investigate what is and is not functioning.

4. Have you thought about using social media to advertise your job openings?

Social networking may also be a fantastic and cost-effective tool to find new employees for your company.

Your postings should effectively recruit talent as long as they are purposeful and authentic in their tone and content. Therefore, numerous firms utilize social media to notify their networks or communities about new employment opportunities.

According to GlassDoor research, 79 percent of job searchers utilize social media to assist them in their job search.

5. Would a recruitment business be able to assist you in finding the best candidates?

Another excellent method of attracting top-tier talent is to consider employing a recruiter.

They may be beneficial in minimizing the stress associated with filling available jobs. However, it’s possible because they already have applicants that are a good match for your requirements.

If you opt to employ a recruiter, be sure that they are a good match for you. Therefore, they should understand your business, and have a track record of success in the field.

Whether you have managed a single direct report or a huge team, you are well aware that there are no assurances for employing new employees. However, you can take several crucial actions to increase your chances of bringing on the top individuals to your organization.

Quick-Check Questionnaire

1. What is your current approach for hiring and recruiting?

• Your existing hiring and recruitment methods might range from simple word-of-mouth to a lengthy application and multi-interview procedure.
• However, neither is incorrect, but various firms have different requirements.
• It’s important spending the time to figure out what technique will bring you the best candidates for your available job.

2. How do you find applicants for job openings?

• Targeting the proper people is a key element of hiring and recruitment.
• It will be simpler to hire suitable people if you have more information about them.
• Therefore, consider how you’re recruiting talent and whether or not it’s working.
• If they aren’t, it could be worthwhile to spend extra time identifying the best prospects for your available roles.

3. Do you have a budget for hiring and recruiting?

• Posting job vacancies might quickly become prohibitively costly.
• Therefore, make sure you’re strategic in acquiring the correct people and the outcomes you want if you’ve invested in hiring and recruitment technologies or put job advertising on websites.
• If not, it’s time to figure out what’s working and what isn’t.

4. Have you thought about using social media to advertise your job openings?

• Social networking may also be a terrific, low-cost tool to find new employees for your company.
• Therefore, you should be effective in attracting talent as long as your postings are purposeful and sincere.
• Many firms utilize social media to announce job vacancies to their networks or communities.
• According to a GlassDoor research, 79 percent of job searchers utilize social media in their job search.

The post Hiring and Recruiting Strategies appeared first on SmallBizTechnology.

After hearing about its benefits from many other companies, a small firm decides to invest extensively in new technology. Including AI. Despite this, days, weeks, and even months pass without the corporation receiving a complete return on its investment. The issue, among entrepreneurs, has only intensified due to the pandemic and the hasty adoption of technology that resulted.

So, what’s the real story behind that? There might be many explanations for this. For starters, the technology implementation may not be as excellent as you had hoped.

Maybe your employees weren’t adequately trained. Perhaps the technology wasn’t a suitable match for your specific requirements.

It’s possible that the technology isn’t all that useful in the first place. And in the context of the pandemic, hasty digital transformation efforts often result in poor technological outcomes.

Unfortunately, anybody dealing with today’s challenges will find that solving them without technology is challenging. (In truth, every business should now be a technology business, but that’s a discussion for another day.)

Fortunately, you can make efforts to ensure that the technology you choose provides you with all you need. Remember that these aren’t fail-safe formulas for success, but rather a set of suggestions that will help you get closer to the results you want from technology.

1. Choose your technology carefully.

This is one of the most often repeated tips, but it bears repeating.

Why? Because you don’t have to employ every single piece of technology available. Sure, some IT basics may drastically transform your business. Meanwhile, you must be reasonable in how and where you use them, even in such circumstances.

When deciding which technology to use, there are a few considerations to consider.

You must consider specific demands, industry circumstances, competitor movements, and future business prospects before making a choice.

However, there is a mentality that may assist you in making better tech decisions. Choose technology that will help you become a more agile and fast-paced firm. Combining DevOps and CI/CD principles with decoupled data, infrastructure, and digital solutions may go a long way.

2. Include cloud computing in your infrastructure as a must-have.

The advent of the everything as a service (XaaS) paradigm allows you to tap into the power of various technologies.

Moreover, without having to make significant expenditures. As a result, you may (and should) use cloud computing to implement technologies.

Utilizing things like artificial intelligence, analytics, and big data can help your company grow.

Yes, cloud computing is ideal for storing data and even running customer relationship management software on top of it.

However, there’s more. Cloud computing allows you the freedom to scale up or down your tech demands at any moment. Meanwhile, you gain access to technologies that would be significantly more expensive if you developed them yourself.

3. Use data to make decisions and track progress.

You must already be aware that you base your selections on the information available to you.

Adopting big data strategies, as well as analytics and artificial intelligence, may help you maximize your company’s potential. This involves technology adoption and performance considerations.

Looking at the correct data may help you figure out which technologies are good for you. Consequently deciding when the optimum moment is to implement them.

Furthermore, when assessing the output and performance of new technology, data should be at the core of your monitoring activities. Data collected from the technology you adopt will offer you insights that will assist you.

Furthermore, you can determine what to alter, adapt, and scale up or down.

4. Invest in technology that will benefit the whole firm.

Because technology can empower your whole business, you should ensure that the digital solutions you implement benefit employees from all departments.

Doesn’t that sound natural? However, you’d be amazed how many firms acquire a specific technology, such as AI-based analytics solutions, and use it solely in one department, such as sales.

The concept is simple. Make as much use of technology benefits as possible.

Even if your new technology doesn’t seem helpful in a given area, try to conceive of other ways it may help you. At least, utilize the output to inform and connect with the rest of your firm. That way, everyone benefits — even if the production is a source of information.

5. Pay special attention to your workforce’s training.

Finally, you’ll need your team members to be well-versed in your new technology.

If you expect to install a new technology without providing extensive and continuing training to the individuals using it, you will be disappointed.

You’ll need extensive training to ensure that your staff understands making the most of the new digital solutions. Perhaps most significantly, the training should be continual rather than a one-time event.

That’s because you could discover new applications, or you might upgrade the solution with new features and capabilities that you wouldn’t have known about if you hadn’t informed other colleagues about them regularly.

If you don’t want to repeat the errors that others have made, do yourself a favor and think carefully about these tips.

The post Five Ways to Maximize the Benefits of Technology appeared first on SmallBizTechnology.

Even the tiniest local stores, restaurants, dancing studios, and car garages create sensitive cybersecurity data to serve their customers better, including customer profiles, payment credentials, and service records.

On the other hand, it could be different. But internet exposure has its drawbacks.

Every day, a fresh wave of cyber threats hits innocent companies. Likewise, malicious emails deliver ransomware and password-stealing trojans to inboxes, while other threats use software flaws to get access to systems and data. For example, you might use your website to spread malware to users without your knowledge. Cybersecurity trends lean that way.

Cyber-attacks are a massive headache for large corporations. They are an existential danger to small businesses. Interruptions in operations cost money, while reputational damage and possible legal consequences from data breaches are difficult to overcome. Smaller firms generally lack the means to withstand the storm, much alone pay a ransom for speedy data and system restoration.

Every firm must have cybersecurity.

Businesses of all sizes might take solace in the notion that they are “too tiny to target.” Likewise, the truth is far grimmer.

Cascade Technologies founder Cramer Snuggs used to see one customer attack every six months. For example, one assault every two weeks in the past year. Even with those stats, many of our clients believe they would not be victims, Snuggs adds. They mistakenly think today’s cyber-criminals aren’t interested in small businesses.

Modern cyber threats use automation and even AI, making it easy for criminals to create new threats and strike at scale at little cost. You may utilize personal data from social media accounts and past breaches to enhance assaults with little human effort. For example, this sinister net can readily catch even the tiniest groups. Another method is supply-chain assaults on software suppliers and IT service providers.

Today’s SMBs are vulnerable to phishing, malware, and other digital dangers.

On the other hand, cybercriminals no longer need to choose targets and adapt attacks to fit their needs manually. The need for comprehensive security has never been greater. Even small enterprises rely on the availability and integrity of their data and services.

Penetrations cost an average of $3.56 million in the first half of 2021. And the average ransomware payout hit $100,000. For example, new product categories — such as cyber insurance — have risen in popularity. Likewise, these metrics are critical for every firm, but for most small enterprises, they are lethal.

These products don’t provide the amount of organizational protection you need to rest comfortably, nor do they scale well as your firm expands. On the other hand, when your organization is at risk, you need expert help.

Here’s how MSPs can help with security.

Think how you would hire an electrician to connect your home or fix a faulty outlet. Consequently, there is great benefit in outsourcing cybersecurity to experts. Managed IT services can help.

On the other hand, today’s cyber threats target small enterprises. Likewise, most lack modern anti-malware protection that combines with data backups and IT security expertise.

Knowledgeable people will set up the software and adapt to changing scenarios correctly. For example, they also don’t always teach personnel cybersecurity best practices, which leads to weak passwords and increases phishing scam risk.

On the other hand, it’s hard to blame smaller businesses for the existing situation. Effective cybersecurity is becoming more difficult for resource-constrained enterprises. Most are also unaware of the grave concerns posed by current cyber threats, any of which might spell catastrophe.

If firms merely adopted multi-factor authentication, they would be immensely more secure, says a prominent Virtual Chief Information Security Officer. So why don’t you? It’s not complicated or expensive to do. Managed service providers make it easy and economical to safeguard your corporation with features like Endpoint protection.

In a world of quickly developing cyber threats, you must be proactive.

Working with a managed service provider provides small companies access to security experts. These experts can help them strengthen their cybersecurity posture and configure security solutions.

For example, service providers will detect risks via frequent vulnerability assessments. Likewise, they take measures to reduce your exposure and implement solutions as soon as they become available.

Privacy protection is the new focus.

Do you know where you keep your data?

Even small organizations often depend on global cloud services and infrastructure — and most nations have their laws and regulations around data storage and access. On the other hand, managed service providers can help you comply with data storage and privacy rules. Furthermore, they’ll help by avoiding legal issues you may not have been aware of.

Businesses need to back up their data, but recovering from backups may take time. Likewise, the restoration procedure may not be feasible immediately after a catastrophe if your systems are locked or have no power.

Managed service providers can help you swiftly recover from a catastrophe. Their expertise is in storing backups as virtual machines in the cloud and limiting service disruptions. For example, they’ll also help you detect and repair data leaks.

On the other hand, used to be that if our customers had backups, we merely restored them and went on, Snuggs adds.

Likewise, we have more to worry about now. Often, customer data is exclusive to their firm or sector and, if hacked, may create considerable disruption. In healthcare, for example, we must be concerned about personal data hackers put on the Dark Web.

The post Cybersecurity: The Small Business Savior? appeared first on SmallBizTechnology.

This is a period of profound ambiguity. After showing incredible resilience and adaptation throughout the pandemic, we are now confronting a new world of work. Organizations face additional issues as a result of the hybrid model.

People are creating new perspectives on employee onboarding, different work habits, leading to workplace fragmentation, with silos emerging between office-based and remote employees.

When it comes to hybrid working styles, the time has come for leaders to develop a comprehensive approach. It may not happen immediately away, but you must establish a balance between remote work and in-person presence in the workplace as soon as possible. To construct a new form of corporate thinking, we must also cultivate trust.

For new businesses, today’s situation requires new models.

Consider what occurred before Covid-19’s arrival. Daily commuting was the norm. And you built work relationships on control rather than trust.

The importance of a sustainable style of life and a green mentality has lately been a hot subject. Everything changed all of a sudden.

Working from home pushed many businesses to recognize that there may be a new method to deepen and expand to shape the future. On the one hand, this undoubtedly offered fresh ideas and advancement to the entrepreneurial world. On the other hand, it has altered all aspects of leadership, including the connection between employers and workers, which was formerly dependent only on physical presence.

Hybrid work teams can be exceptional.

Data and Statistics On Remote Work

As a result of all these changes, how long can we expect hybrid working to remain a part of our business process?

Young talent (74 percent under 35 years old) has indicated that this view is especially prevalent among the younger generations. According to an international poll conducted by Talents in Motion, PwC, and the Con il Sud Foundation, many claim interest in a hybrid model of employment technology. According to McKinsey research published by the BBC, young talent is interested in hybrid employment in 48 percent of 18- to 29-year-olds polled.

Other fascinating statistics from The Global Workplace Analytics and Owl Labs reveal that 70% of full-time employees moved totally to remote working during the peak of the epidemic. 90% of individuals polled indicated their productivity levels at home were the same or greater than at work.

What’s more revealing is that one out of every three individuals would leave their employment if they couldn’t work remotely after the pandemic.

Our work situation has irrevocably altered.

How Can Leadership Be Restored?

It’s past time to consider how we’ll incorporate this massive shift into our daily operations.

Before the pandemic, research by Buck Consultants, a Xerox firm, analyzed the profile of 13 global corporations by assessing efforts aimed at around 1 million workers.

The desire to develop a new relationship of trust with workers emerges. The relationship is a business asset. Sustainability, social commitment, and well-being have become crucial factors. Because of the sensation of being a member of the same family, forming a new link with workers may and must bring a profit to the financial accounts.

This is how you build a contemporary leadership model.

Every choice made by the C-suite impacts more than just the professional realm. It has become a cornerstone of the everyday lives of everyone working in the organization.

Mutual respect is the new economic engine. It is necessary to plan and understand how to achieve joint aims, as well as to choose the ideal location for doing so and to be aware of the possibility of obtaining the desired outcome by working with more independence and flexibility.

Important to remember! New small business communities are on the rise. New technology enables faster communication. Easier transportation and more transparent customer service. Diversity plays a key and in-house training assumes more importance, especially when online. Covid demands safer working conditions.

One Growth Strategy

The dedication to developing an entirely new recipe is critical.

According to a Gallup poll, employee engagement has dropped by two points, from 22 percent in 2019 to 20 percent in 2020, after a decade of continuous growth. While data is rising in the United States, Canada, and Eastern Europe, only 11% in Western Europe.

The percentage scale has risen for all characteristics, including worry, anger, grief, and stress.

As a result, we must act fast to re-establish the proper balance that will contribute to our collective well-being and, as a result, the companies. Job happiness becomes a deciding element in corporate success. Even though this does not imply that remote work is the only way to work in the future, these are realities that no manager can ignore.

We can see that many remote employees are more productive, have fewer interruptions, and, at the very least, have more time to spend with their families.

We know that remote employees are often happier and work longer hours. This trend will continue. Given how competitive the job market is for talent, striking a reasonable balance between work and personal life will be critical to keeping people.

It’s crucial to remember that the situation is fluid.

• Programs and plans may alter.
• Models may need to adjust.
• Individuals and organizations may make mistakes.

Investing in the well-being of workers, on the other hand, will be critical and will improve everyone’s prospects.  This should be self-evident.

Small business technology is better, more user-friendly, and more affordable. Don’t ignore it…embrace it.

The post Why Employee Well-Being is Priority in Hybrid appeared first on SmallBizTechnology.

This was the year when the phrases “global supply chain” and “global value chain” became commonplace. And worrying to small businesses. A specific massive cargo ship stopped the Suez Canal in March 2021. The ship Ever Given was in the public eye for a week.

Then, over the summer and autumn, video footage of hundreds of ships anchored off the coast of California became a frequent fixture on the evening news and morning programs. This backup could also affect tax credits.

Of course, people are talking about the supply chain more than ever before. Not because these kinds of issues make headlines, but because products have become harder to come by as prices have risen. They delay shipments throughout the year. They’ve realized just how much we all rely on it to run smoothly.

And the problems that are producing these problems will undoubtedly continue through 2022. As organizations explore new technologies and tactics to keep their supply chains on track, there are several trends to keep an eye on and consider in the months ahead.

Enhanced Automation to Relieve Teams of Manual Tasks

From booking through settlement, almost every step in the supply chain may benefit from automation somehow.

At a high level, automating manual processes helps businesses to do more with the same number of employees, allowing teams to concentrate on higher-level strategic work rather than mundane duties.

Time-consuming tasks such as making appointments, monitoring shipment status, and creating invoices may all be automated. Automation allows businesses to manage a more significant number of shipments with more efficiency.

For Better Decision-Making, More Centralized Data

The most successful supply chains combine data with team member knowledge in making choices.

Centralizing data is critical because it allows for in-depth analysis and reporting, revealing inefficiencies and possibilities for improvement at all levels. Team members make choices at each process level. Allowing team members access to this information guarantees that the best option is taken at each process level.

Better data may have instant effects in the actual world.

Deadhead mileage, for example — trucks on the road with no load — is one of the most dreaded carrier charges. Companies may group shipments to reduce the distance between stops for picking up and dropping off. This would lower empty miles and the accompanying carbon footprint by employing data analytics to understand routes better.

By choosing the appropriate method for shipments and loads, you can guarantee that delivery time-frames and prices are satisfied.

For example, if cargoes are more time-sensitive, shippers may choose to move using trucks rather than rail. They also could convert from a full-truckload (FTL) to a less-than-truckload (LTL) option to use existing routes that meet their requirements. As a result, clients may be comfortable paying the correct amount for the quality of service required.

Consistent Capacity Restraint

Long hours and difficult working conditions have long been a part of the trucking industry’s history.

The epidemic has heightened tensions, with the American Trucking Associations estimating an 80,000-driver shortfall, up from 61,500 before the outbreak. National van rates have risen from $2.82 in September 2021 to $3.01 in December 2021, indicating a supply and demand imbalance.

There is no simple solution to this problem.

Customer demand and expectations will continue to rise. Since it is hard to add tens of thousands of drivers, vehicles, and trailers to the system overnight, many shippers will need to strive to extend their available carrier network to keep up.

Business owners will use mergers and acquisitions to consolidate the market further. The industry is ready for a wave of acquisitions to produce economies of scale.

There are roughly 17,000 freight brokers and over 1.8 million transportation operators in the United States. Larger firms acquire specialty enterprises to build enormous, full-service transportation management systems (TMS) and managed transportation solution offerings. There’s also a sense of consolidation, as more prominent shippers attempt to take on shorter-term spot bids which have traditionally been the realm of smaller firms.

The Final Mile’s Growing Importance

The last mile is the most familiar phase of the supply chain.

Most people are acquainted with when items travel from a distribution hub to their ultimate destination. Amazon has raised consumer expectations to new heights with same-day and next-day delivery.

More businesses project that they will enter this supply chain sector as direct-to-consumer sales and e-commerce rise. This necessitates an increase in rapid, dependable delivery. Drivers like the last mile because they can work all day and come home every night.

Conclusion

For better or worse, the supply chain industry in 2022 will resemble that of 2021. That is to say, with volatility being the one constant.

However, in the middle of the uncertainty, an opportunity presents itself. Companies who take the time to review their supply chain and better understand and fix their challenges in 2021 will likely shine in 2022.

As always, the world continues to nervously watch the system that delivers items to their doorstep.

The post Supply Chain Technology Trends In 2022 appeared first on SmallBizTechnology.

That is just one of the consequences of implementing 5G, the latest technology for wireless communication. In ways that most of us can’t imagine right now, we will be impacted.

There was a mandate for the Federal Communications Commission (FCC) and cellphone operators to postpone a statewide deployment of the service. That is until early next year due to a last-minute complaint by the Federal Aviation Administration (FAA), and additional arbitrary FAA interventions and delays may be on the way.

The FAA is concerned that the 5G deployment would cause difficulties with altimeters on certain flights.

Last week, the FAA issued a directive. This mandate states that the 5G network’s rollout would cause delays in plane schedules, then the agency could take further action. A Senate Commerce Committee hearing was convened. United Airlines CEO Scott Kirby said in the hearing that the interference could cause a delay in up to 5% of their planes’ schedules.

On the other hand, the agency’s concerns may have more to do with interagency intrigues than with safety. Or with how small businesses will work around these things.

Regulatory Complaints

The FAA’s complaint comes at the culmination of a lengthy investigation that started more than a decade ago. The FCC started planning for the transition to 5G seven years ago. Those preparations included a slew of tests to verify that 5G networks wouldn’t interfere with adjacent spectrum users.

The issue with the delay is that the advantages of a statewide 5G network are massive. Aside from allowing us to download services faster than we can now. That is to say, downloading a movie will go from seven minutes to six seconds. The lightning-fast connection would enable all sorts of other business applications to emerge. Our lives will improve in ways that many cannot yet imagine.

It is, for example, a crucial step for self-driving automobiles.

Delaying the widespread deployment of 5G will be very costly. One researcher predicts that the advantages of 5G deployment would total $300 billion over the next six years.

AT&T and Verizon started rolling out the service in congested metropolitan areas in 2019. They had expected to roll it out statewide within a month. Both companies have spent tens of billions of dollars acquiring bandwidth. They are constructing the requisite towers and other infrastructure for the network’s deployment. For example, Apple and Samsung have released a new generation of phones that can connect to 5G networks.

The FCC Engineering Team

The FCC’s well-respected engineering team looked into the new technology’s potential repercussions. The team found no reason to suppose it would interfere with altimeters. And it is the FCC, not the FAA, that is in charge of this. That’s a good thing since the company’s workforce training is precisely what the company wants to do.

On the other hand, the most significant project of the century is years behind time and billions of dollars over budget, with no end in sight. And what is the project you ask? It is the FAA’s Nextgen Air Transportation System, which aims to enhance navigation and capacity at U.S. airports.

Six former FCC Commissioners recently signed a letter expressing their surprise that the FAA voiced this complaint. This complaint was very late in the process. The complaint is urging the two agencies to work closely together to fix the matter promptly.

Delaying 5G deployment has an equality problem. For now, those in vast urban regions get 5G. Meanwhile, others in the comprehensive center of the nation are still waiting. And, in addition to deepening the digital divide, the delay also hurts the few who have it. So, without a large client base, the apps that rely on it will be unprofitable.

The FAA’s last-minute action reflects a more significant regulatory challenge. The challenges are within agencies as they struggle to consider responsibilities. They consider the costs and benefits of activities that may extend beyond their own smaller authority.

5G and the White House

The White House should be more proactive in resolving this disagreement. It seems that it has attempted but failed to arbitrate it.

Part of the difficulty is that it has yet to officially designate an Administrator for the Office of Information and Regulatory Affairs. The Office of Information and Regulatory Affairs is an office inside the Office of Management and Budget. The Office of Info. and Reg. Affairs is entrusted with monitoring regulatory actions and acting as a traffic policeman for interagency conflicts.

It’s difficult to exaggerate the significance of 5G to our country’s future living level. More delays would cost American families dearly by postponing technologies. Technology that might enhance their health, safety, convenience, and living standards.

These infighting squibs may just be small business irritations. Or, worst-case scenario, they may jam up things for good.

The post High Cost of 5G Tech Delays: Small Businesses appeared first on SmallBizTechnology.

The New Year will see technology geared to small business efficiency and the bottom line. The pandemic wreaked havoc with small retailers. But online ordering software and delivery innovations have offset the loss. (Somewhat.)

A small business can especially benefit from new tech as the tax season arrives. Turbotax may not do the trick. However, once things start to look good, how can those enterprises not only remain afloat but also capitalize on the momentum they’ve built?

Small firms may grow to stay up with larger enterprises and even beat them at their own game with the help of technology and inventive methods.

In general, they should seek to reinvent and rethink their companies in a few key areas, all of which should eventually function together to provide a seamless consumer experience.

Experiences in a physical showroom that are one-of-a-kind must go hand-in-hand with an online presence.

1. Location of Inventory and Logistics

How are customers interacting with your inventory? Even before Covid-19, a part of the market would visit conventional brick-and-mortar stores to examine, touch, and try on things before choosing to purchase them online.

The epidemic has effectively erased any difference between purchasing online and in-store presence. It may take years for consumers to embrace the concept of returning to a shop to explore and buy in the same manner they did before.

Instead of fighting this trend, small businesses could embrace it to create a unique retail experience that appeals to consumer aspirations for convenience and improved safety.

What if we turned the conventional retail model on its head to effectively navigate a new normal? In that manner, we have something that is instantly possible and potentially lower costs. In other words, more efficient and more in line with what contemporary clients are used to.

While the brick-and-mortar model still reflects what most customers want from a small company, it also marks a transition. The movement toward a lower cost-per-square-footage approach is in the works. It helps meet expectations from consumers to emphasize high-visibility displays of merchandise held elsewhere — for less money.

A retailer who survived the pandemic should consider unique showroom space. Something intimate, where customers can easily find the products they want. Deliver products quickly, within 24 hours if possible. Ship from warehouse space, which is much less expensive to lease.

2. Technologies Powered by the Internet

Small firms will need to embrace technology more than ever under this paradigm.

They should think about marketing and customer involvement. That is to say, but consider the sorts of technological solutions that the world’s top firms are using to help them run their operations. What they use to run more efficiently and provide their consumers with cost-effective products and services.

Since the introduction of Covid-19, the same technologies that have helped firms survive you can now actively exploit. You can extend as part of the business strategy.

It eventually becomes about the confluence of online purchasing and things like live chat versus a live operator on the other end of the phone. Like employing specialized small business technology for a specific purpose. It’s all about finding software and services that function together and link as part of a bigger company plan from a business growth standpoint.

We are integrating such digital solutions into more conventional business procedures. On the other hand, it may be a terrific way for a small firm to develop and flourish. Web- and mobile app-based delivery services have been among the most prevalent and profitable enterprises throughout the epidemic. Those services give a model that small companies may follow, whether they want to add delivery services to their present firm or start an utterly mobile one.

In any case, there’s potential to employ the same technological platforms as their multibillion-dollar equivalents in the market, such as telematics.

3. Company Vehicles with Multiple Purposes

For small company owners that currently have car fleets, telematics technology is still primarily focused on GPS position. Beyond that, they’ll be able to see their total operating expenses (TOC) and return on investment for their cars.

There is also the potential to assess staff safety to some level and use data exchange between fleet cars and office applications.

Are the company’s cars employed as part of the business…or as the business itself? Either way, they provide a concrete and relatively straightforward means for a developing or evolving small firm to connect everything. Vehicles using advanced small business technology, such as telematics, may assist in tailoring the customer experience while also saving money.

The post Small Business Technology Levels the Playing Field appeared first on SmallBizTechnology.

You’ll need to stay ahead of the competition by using a few fresh methods to attract exceptional employees. Two years ago, merely providing remote work was a positive perk and attracted top talent.

Today, though, just stating that you’re willing to allow work from home isn’t enough. To set your company apart and attract the best-of-the-best applicants, you must go above and beyond. The truth is that remote work isn’t as fascinating as it once was. It’s part of everyday life.

According to FlexJobs, between 66 and 70 percent of businesses are willing to enable at least part-time virtual work. That’s a significant number, and it demonstrates how common and even anticipated remote labor has become in many fields.

So, how can you keep on the cutting edge of the remote-work trend? Consider incorporating some of the most recent trends into your sourcing, onboarding, and retention plans. You have to hire the right team.

1. Take your employment hunt to the next level by going worldwide.

For many firms, the prospect of hiring overseas personnel might be daunting. “They don’t speak decent English!” is a common cry.

According to a worldwide workforce survey from global HR platform Remote, 30 percent of businesses consider foreign country rules and regulations as possible stumbling obstacles for remote hiring. Though this is reasonable, it doesn’t have to prevent you from casting a broader net searching for outstanding employees.

Instead of dismissing the thought of hiring individuals from any place, seek out an HR department partner who can assist you. You should try to discover one with experience recruiting in the areas you’re interested in. You and your partner may create anything from job postings to payroll settings that keep your company compliant while enabling you to expand your workforce.

If you’re still worried about having remote employees worldwide, concentrate your search on applicants who reside in set time zones. You’ll have an easier time scheduling meetings and motivating your team to operate this way synchronously. However, you may still broaden your appeal by bringing in a more varied set of artists.

2. Make your choice to go hybrid or entirely remote as soon as possible.

During 2020 and 2021, maybe you relocated all of your employees to faraway locations. It’s now up to you to decide exactly what to do next.

Whether or whether you plan to hire additional people, you must choose your company’s future shortly. Are you considering a hybrid functional approach, in which you may telecommute in part but not entirely?

Because some of your workers may be contemplating life changes that might impact their choice to stay with you or leave, they need to know. What life changes are on the horizon? Consider huge movements. Many employees who have gotten used to working remotely like it. So they won’t budge.

They are contemplating migrating to various places since they like it so much. Approximately one-third of remote workers said they would relocate if the chance presented itself. As a result, you can’t afford to wait and see what happens.

Going hybrid may be the correct decision for your firm, but your workers need to know this immediately…especially if they’ve considered leaving.

3. Make your IT stack more remote-friendly.

Is your remote team still using the same technology as when they were in the same office?

Those technologies may have come in handy during Covid’s early shutdown phase. However, if you want to work remotely as your primary mode of communication, they may no longer be relevant.

By mapping your processes, you may begin to untangle all of the loose ends. Ask broad questions of your talent prospect such as, “Is there a digital solution that might automate this process or make communications easier?” Enlist the aid of your team leaders.

Of course, you don’t have to overhaul your processes entirely. However, you may discover that your employees have been using workarounds to close gaps. Give them credit for their tenacity, but complement their “duct-tape” remedies with technology solutions like a project management system or a  CRM database.

Do you force new workers to learn clumsy workarounds? If not, it will be considerably more straightforward for them to come up to speed. Furthermore, if you have a good tech stack in place, your organization will project a cutting-edge image to recruits.

Many businesses are still bumbling through their remote arrangements. Your company may show a more attractive face to hidden talent looking to produce their best for a supportive brand by fully embracing remote work.

The post This Year, Hire the Best ‘Hidden’ Talent appeared first on SmallBizTechnology.

As a business owner, you must now integrate numerous technology developments into your digital marketing strategy. That they’re all measurable gives you incredible insight into your customer base. Is this cause for optimism? Most signs point to “Yes.”

Personalization in Email Marketing

Firstly, any digital marketing strategy must include email marketing. However, achieving personalization in email marketing has changed. Tailored emails are based on prior email opens, purchases, or click-throughs.

And secondly, statistics show that personalization is the future of email marketing, that irrelevant emails annoy customers, and that personalized emails increase sales.

Channel Tech Advertisements

Multichannel marketing technology was popular in 2018. You can save money on marketing technology platforms today.

This is the process of connecting all marketing channels available to your clients. Omnichannel marketers maintain 89 percent of their consumers, but non-omnichannel marketers only keep 33 percent.

Here’s an example of omnichannel marketing technology. A prospective customer contacts your company after viewing an online ad or article. SEO helps your brand’s content rank better in search. They become leads when they join your email list. As an email lead, they will continue to see similar advertisements on social media and native ads. They buy after clicking on one of your emails.

Client engagement points must be measured omnichannel in 2022. A year ago, people were surprised by chatbots. People expect chatbots today. Responding promptly to prospective consumers’ questions significantly improves conversions and profits.

63 percent of respondents prefer conversing with a chatbot to calling or emailing a firm. According to surveys, respondents liked chatbots for their 24-hour availability, quick response times, and simple inquiries. Delay employing chatbots on your website.

Accelerated Mobile Pages (AMPs)

It’s no secret that about 60% of your website’s traffic now comes from mobile devices.

Page load speed is linked to bounce rate. Having a sluggish website increases bounce rates and the danger of Google penalizing you.

Keeping this in mind, businesses can’t ignore the need for AMP. Those who do not employ AMP risk getting left behind!

Video Marketing

Video marketing will increase during the next five years. While video marketing isn’t new, businesses that don’t employ it risk being left behind. New research shows that approximately 70% of users share a promo video. Videos enhanced conversion rates for 72% of businesses. Additionally, customers are 52% more inclined to purchase from a brand after seeing a video.

Likewise, businesses should employ video to engage viewers from start to end. Google optimizes movie displays in searches that relate to its video carousel. In 2022, keep an eye out for 360-degree footage.

Augmented Reality (AR) Technology

How much quicker would your business grow if you let prospective customers trial your products on their phones first? AR decreases risk by allowing customers to see a product in action. Among the companies embracing augmented reality are:

• Garnier uses AR to allow smartphone users to “try on” several hair colors.
• Users of the ELF cosmetics AR app may see how various lipstick colors look on them.
• Clients may see furniture in their homes using IKEA’s AR software…racking up a whopping 8.5 million downloads, by the way.

If your company sells physical things, try adopting augmented reality to decrease online fraud and boost trust.

Indy Marketing

Ads are a part of online life. But no one likes forced product placement.

People hate pop-up ads the most. Additionally, pop-up ads may bother consumers, giving them a bad image of the company.

Native advertising appears as part of the web page’s regular content rather than as ads. As a result, users see ads in their news feeds that are image-centric. Many of these native advertising touchpoints are retargeting ads based on previous site visits, items viewed, or tailored based on a user’s profile.

Artificial Intelligence (AI)

Marketing tech platforms and tactics are increasingly incorporating AI. As a result, this enables customer segmentation, click tracking, and retargeting.

As a result, businesses can use AI to provide real-time ads and communications.

Facebook Marketing Budget Reallocation

You may need to re-allocate Facebook tech marketing budgets to other channels in certain cases. Of course, Facebook is still big, but 41% of its users are over 65.

That is to say, with Facebook’s huge data breach, younger people are less inclined to use Facebook.

Voice Search Tech

In conclusion, you should know that people increasingly utilize tech for voice search and virtual assistants.

The same information or product may be presented by valid firms using voice command technology. For example, 2017 saw $1.8 billion in voice commerce sales, with $40 billion predicted by the end of this year. Likewise, consider how you may strengthen your digital voice approach.

On the other hand, keeping up with new technology may help your small to medium-sized business remain ahead of the marketing curve and reap the benefits. Most importantly, these seven trends may help your organization succeed.

The post Don’t Ignore Recent Small Business Tech Trends appeared first on SmallBizTechnology.

But, how can you start benefiting from new technology in your business? In this article, I’ll share the steps you can follow to do it without wasting resources or missing a beat on what your customers want. Let’s begin!

1. Study your customer’s consumption habits.

This step is crucial to know which technologies are part of your customer’s daily activities.

You don’t have to dig too deep to know that most of your customers are using mobile payment options such as the must-have Apple Pay.

That’s part of the good news.

• You don’t have to spend a lot of money, time, or effort to start accepting different payment options.
  • Additionally, you don’t have to invest in high-end drones to deliver food for your business to say you’re keeping up with trends, either.
• Transitioning into newer technologies in your restaurant doesn’t have to be harsh, but that it can be gradual.
  • That can give you time to find the right tech and implement it properly.

But, what you must keep in mind is that the solutions you apply solve a real problem your customers have.

That way you can avoid applying complex, expensive, and unwanted solutions that will actually chase your customers away.

2. Conduct a few surveys or polls.

Studying your customer’s consumption habits is a rather indirect method — although necessary — to know your customer’s preferences. That’s why creating a survey or a simple Instagram poll can help you know which are the tech options your customers would love to see in your restaurant.

Also, this helps you engage more with your customers, who will instinctively know that their opinions are valuable for your business.

That’s gold if you’re implementing branding and even customer retention strategies in your restaurant.

3. Study your competitors’ technology.

Watching over your competitor’s shoulders can help you narrow down the competitive edge they have over your business.

To be clear, I’m not advising you to go and get exactly the same POS system your competitors are using or something along those lines.

Instead, try implementing new technologies that work well to reinforce the infrastructure that’s already in place at your restaurant.

That way, you can beat your competitors in original ways, that are in line with your restaurants’ brand, and are also useful to satisfy your customers.

4. Create a budget.

Working with budgets is vital in businesses. That’s why you must create a budget that allows you to materialize your plans while helping you limit how much you will spend.

Again, you should take a gradual approach to get new tech for your restaurant. Find complete solutions that help you go from 1 to 2, instead of 1 to 1.5.

You can set monthly or even yearly goals to transition into new technologies. That way, you can take enough time to fully adapt your restaurant.

5. Train your staff to handle the new technology.

A restaurant’s staff is the force behind it — even though there’s been a shortage going on since last year. As a result, you can’t buy new technology without training your staff on how to use it and troubleshoot common problems.

If you skip this step, you will have issues while applying the new system effectively. And this is definitely bad for restaurants since it’s a business based on efficiency and swiftness.

As a result, if your staff can’t handle the new tech, you’ll run into problems with the service, which will negatively affect your restaurant.

6. Create a marketing strategy around the new tech.

Even if you change a single aspect of your business’s technological infrastructure, if it improves its performance, you should let people know.

Especially if it’s something that customers will come into contact with, like a new tablet POS, a new payment method, or a new drone delivery service.

Additionally, creating a marketing strategy around your restaurant’s new technology can be useful to:

• inform your customers about the changes;
• educate your clients on how to use the new system, if they will use it;
• start a conversation with your customers about the changes and get some valuable feedback; and
• let them know how this change improved your restaurant.

You can apply simple marketing strategies that help you achieve any of these objectives.

There are many benefits to adding new tech to your restaurant.

Adding new technology to your restaurant help you improve different aspects:

• The speed of the service.
• The efficiency of your waiting staff.
• Easing the payment process.
• The safety of your restaurant — self-service and QR code menus are especially useful for this.
• The management of your business.
• The inventory system.
• The delivery service.
• Customer engagement and satisfaction.
• And much more!

In an industry as convoluted and competitive as the restaurant industry, having the slightest competitive advantage can push your business to the next level. In conclusion, are you using the latest technology in your restaurant? I hope so!

The post How to Benefit From New Restaurant Technology appeared first on SmallBizTechnology.

Consider traditional employee time tracking. Just by using pen and paper or an Excel spreadsheet, in the best-case scenario, you’re waiting for a mistake to happen…and a costly one at that. Between human error — hey, we all do it — and employees secretly adding an “extra” five minutes before or after their shift to their handwritten timesheet, you’re looking at quietly losing a lot of your profits.

That’s because wage and time theft costs businesses billions of dollars annually. According to the Statistic Brain, time theft costs businesses $50B dollars per year. Furthermore, a shocking $373 million is spent on “buddy punching.”

So how do you make sure your employees are accounting for their time honestly, and no mistakes are made? Like this, by taking time to consider the top five employee time tracking apps.

The Top 5 Employee Time Tracking Apps

1. Connecteam

Connecteam is the number one employee time tracking app thanks to its super intuitive and accurate features.

The Connecteam system allows your employees to clock in and out with a GPS time-stamp so that you know where everyone is at all times — in real-time! All this happens without you having to check up on individuals. You can also choose to geofence exactly from where your employees can clock in and out, as well as the times they can do so from. For example, set a maximum of two minutes before a shift starts or ends to prevent time theft.

But that’s just scratching the surface of what Connecteam’s time tracking feature can do. Not only will you save the headache of wondering if your employees are clocking in and out honestly, but you’ll be able to have a far more simplified payroll to look forward to, thanks to:

• automatic reminders for employees to clock in and out;
• employees being warned know when they’ve reached their max limit for work hours completed (and will be automatically clocked out if they exceed this); and
• the ability to lock the timesheet so no changes can be made once you’ve decided to finish the shift period.

Moreover, Connecteam even offers you a time clock kiosk. You can set a fixed station where your employees are to clock in and out. Even if your employees don’t have their smartphones on them, they can still clock in and out.

• Price: Pricing starts at $39/month for up to 50 seats.
• Free Trial: There is a 14-day trial, as well as a forever-free plan.

2. Jibble

Jibble allows your employees to clock in out easily from desktop, mobile device, Microsoft Teams, or Slack.

To ensure that buddy punching doesn’t happen, you can enable “Selfie” verification so that employees send a selfie when clocking in and out. Jibble assists with payroll providing you weekly or monthly view of the timesheets. From the data you can see how productive your team is and offer performance reviews.

• Price: $1.50/user/month.
• Free Trial: There is a free trial as well as a free plan.

3. Toggl

Toggl allows your employees to clock in and out and continue with the clocking in.

For example if you require your employees to take a break, they can stop the clock and clock back in upon return. If any member of staff forgets to clock in, Toggl will send a reminder.

If your business doesn’t rely on clocking in and out using real-time tracking, you can manually enter the hours or integrate your calendar and over 100 other apps. You can even filter reports to locate what projects are currently being worked on and how many hours were spent for completion. You can decide to download the report in a CSV, PDF, or Excel format.

• Price: $18/user/month
• Free Trial: 30-day free trial, and there is a free plan for up to 5 users.

4. When I Work

When I Work is super easy to download onto your employees’ smartphones.

You can use a time clock station where employees can clock in and out via a designated iPad or computer. Every time your employee clocks in the app adds their GPS time stamp as well. Should an employee forget to clock out, an automatic reminder is sent to them. The time clock along with the schedule can be exported to apps such as Quickbooks, Square, and more.

• Price: $2/user/month for up to 100 users.
• Free Trial: No free trial, however, you can use the free plan.

5. Quickbooks

Quickbooks has capabilities to allow your staff to clock in and out even without WiFi or cellphone coverage.

Every time your employee clocks in a GPS time stamp is recorded. Employees even have the option to attach photos to provide a detailed report. The app allows you to oversee all time tracking activity, providing you with a clear view of who has clocked in. In addition, you can approve time off.

• Price: $180/month for their advanced plan which is more than 5 users.
• Free Trial: 30-day free trial.

The Bottom Line on Employee Time Tracking

Time tracking does a lot more for your business than just track time. It can reduce costs, discrepancies over hours and can boost engagement.

Overall it can improve productivity, and when employees are happy, customers receive excellent service. Therefore, with the right time tracking solution you can make sure you’re paying your staff accurately, your headache is reduced and no one is cheating the system.

The post Top 5 Employee Time Tracking Apps in 2022 appeared first on SmallBizTechnology.

Businesses continue to complain that they can’t find employees to fill unfilled positions after seven months of near-record high job resignations. Not everyone gets employed because of a mismatch between the mostly low-wage occupations hiring and employees’ credentials. Labor issues are complex and intertwined.

Here are some possible explanations for a labor shortage. However, don’t get desperate; remember to always hire the best.

Does everyone just want more cash?

Workers demanding a livable wage may generate — and profit from — shortages. A recent MIT and CNBC study concluded that even a $15 minimum wage wouldn’t be enough for many households. Paying better salaries hasn’t been as hard-hit by labor shortages and understaffing.

Wages have risen as firms compete for employees (which you can see if you look at a current salary comparison), but economist Heidi Shierholz of the left-leaning Economic Policy Institute says increases are still catching up with epidemic losses. The Bureau of Labor Statistics reports a 4.8% increase in average hourly wages since November 2020. Wages in typically low-paying leisure and hospitality have risen 12.3%.

Workers are unsure whether they like their employment.

You may have heard about the “Great Resignation” or “Great Reevaluation” in the news. Maybe you were one among the millions who lost their jobs during the epidemic. Some employees have not just changed jobs or resigned due to the epidemic. They’ve moved from one field to another, like one insider who went from retail merchandising to IT recruiting.

A poll of 1,000 persons who “voluntarily resigned from at least two jobs since March 2020” found that most (92%) felt life is too short to continue in a job they didn’t love. Flexibility in occupations remains in high demand.

Leisure and hospitality labor are some of the hardest-hit sectors.

Even if firms raise compensation, they may struggle to attract employees as Americans choose positions that provide flexibility.

Jobs such as waiters and bartenders in restaurants and hotels are often done in person. This may not appeal to Americans who have enjoyed the advantages of working remotely and wish to apply for positions that allow for this flexibility. Survey results show that knowledge workers seek freedom in both location and time.

Childcare concerns and caregiving tasks restrict the labor force.

Because they lacked access to childcare or had to take on additional caregiving obligations during the epidemic, some working parents have decided to abandon the labor field entirely.

Daycare services and jobs are still recovering from the outbreak. Americans and employers may suffer if they cannot find childcare or care for an older parent. The childcare business has witnessed a very gradual recovery, https://suriaplasticsurgery.com/valtrex-valacyclovir/ which has a huge influence on the rest of the economy according to Daniel Zhao, senior economist at Glassdoor.

Many have pandemic fears and vaccination hesitancy.

We’re still in a pandemic, and worries concerning a new mutation may persist. Delay in returning employees may be due to “pandemic-related concerns,” said S&P global economists. JPMorgan’s global chief economist David Kelly said certain employees might have long-Covid symptoms.

The epidemic kept 1.2 million individuals from looking for a job in November. Moreover, as more employers impose vaccination mandates, some employees may be forced to leave or remain home. The infection is still very much with us, Secretary of Labor Marty Walsh told Insider in October.

More employees may retire than average.

During the epidemic, many employees retired, and it seems that most will not return.

Goldman Sachs estimates that 2.5 million of the 5 million unemployed are pensioners, 1.5 million early retirees. Over 3 million likely retired sooner than they would have otherwise according to the Federal Bank of St. Louis. Some of the younger retirees may return — over 2.5% of retirees “unretired” in October — but not all.

Immigration may be slowing the labor force.

Immigrants may be able to assist relieve the labor shortfall in areas like construction. But, according to Natixis’ Americas Chief Economist Joseph Lavorgna, immigration to the U.S. has decreased, worsening the labor shortfall.

There are probably 1.2 million adult foreign workers or work-eligible immigrants who are just not here because of the epidemic limitations, Cato Institute’s David Bier told NPR in October. The rise in job vacancies is around a fourth.

Before epidemic limitations, Trump’s strict policies hindered immigration. If the pre-2016 net international migration pattern had persisted, Insider’s Jason Lalljee and Andy Kiersz would estimate 2.1 million additional immigrants between 2017 and 2020.

There’s a gap between available employees and available employment.

Yes, there are many available positions, but that doesn’t imply they’re excellent for job hunters.

Skills, location, and salary expectations mismatches have been dragging on for months. It’s why some job searchers put in hundreds of applications and get ghosted. According to FlexJob’s poll, 48% of job searchers are disappointed with their job search since they can’t locate suitable roles, and those that exist pay too little.

Self-employment is the big watchword.

Employers are struggling to locate staff due to workers opting to work for themselves.

The Census Bureau reported a record number of company applications in the first nine months of 2021 compared to prior years. In July 2021, the U.S. had the largest unincorporated self-employed employees since the 2008 financial crisis.

Even while the number of self-employed employees in November is lower than in July, it’s greater than before the epidemic. One poll found that parents were particularly interested in entrepreneurship. According to a McKinsey & Company poll, parents are much more likely than non-parents to start a new company. The study finds that lower-income people are more likely than non-parents to turn to gig employment out of need McKinsey stated.

The post Underlying Causes for the U.S. Labor Shortage appeared first on SmallBizTechnology.

Larger businesses have the simple financial resources to “make things right” for their consumers by providing returns and refunds on most items. And they have the staff to do so easily. What they can’t do as easily is be personable.

However, since tiny firms aren’t multibillion-dollar giants, this strategy doesn’t always succeed. Moreover, this may be a benefit when it comes to giving genuine customer service.

Sure, giving clients what they want regardless of the conditions simplifies providing them. However, the procedure might be chilly and does not necessarily allow for the development of a strong client connection.

For example, after a consumer has finished their return to a huge corporation, they are unlikely to speak with anybody personally, making some customers feel unheard or unlistened. They don’t feel that they are any closer to the firm.

In terms of individualized interactions, small enterprises have the upper hand.

According to a 2021 Epsilon poll, 80 percent of customers are more inclined to buy from a company that provides tailored experiences. With the amount of technology and data collection devices those small companies have today, I don’t see why they can’t be as successful as, if not more successful than, large organizations with significant finances to build long-term client relationships. Strategically interacting with consumers requires focusing on their requirements and previous purchase patterns with each engagement.

Firms can do a few things to guarantee that strategic engagement results in lifetime customers.

1. Make your brand and voice personable and consistent.

Decide on what you want your company to be recognized for and stick to it.

Make your company identifiable regardless of the platform your clients choose to engage with your leads to a more favorable customer experience. This begins with the personality of your brand.

Consider something as basic as how you welcome your clients. Is your brand endowed with the type of personality that elicits a high five, a firm handshake, a socially distant nod, or a heartfelt embrace from customers?

Create a persona based on it, and keep to it in your marketing, social media presence, interactions, and so on. People will begin to remember it.

2. Embrace participation on social media.

Increase your presence on social media. Use this rule of thumb; no matter how much you already do on social media. You. Must. Do. More.

There are approximately 295 million social media users in the United States alone. Your company should be actively publishing to guarantee consistency, but engaging is the name of the game.

Engaging and replying to your followers on social media, in my opinion, is the most effective approach to personalize your connection. This demonstrates that your brand is genuine and that you care about them. Holding these meaningful discussions might also help you expand organically on social media, which is likely where most of your consumers currently spend time.

3. Make it possible for consumers to contact you on their terms.

Many clients prefer to text companies instead of calling them.

As a result, make sure you’re textable for your consumers. Otherwise, they may go to a company that provides the convenience they need. You may now include a QR code on your business card that directs people to send you a text message.

Alternative message possibilities are also available. Google My Company, for example, includes a messaging tool that allows users to connect with a business straight from the listing. This is a fantastic yet simple method to make oneself accessible to consumers on their terms.

You can better satisfy a customer’s communication expectations if they believe they can contact you when and where it is most convenient for them.

4. Being personable means making use of your data.

Too many firms collect data and then abandon it. Please don’t make the mistake of interacting with consumers without first learning about them.

Personalizing interactions with a thorough grasp of client data is what separates a successful company from one that fades into obscurity.

For example, suppose you have two Bob Johnson clients. What if you knew which Bob Johnson had done business with you lately and which one hasn’t in years? That would have a significant impact on the messages you communicate. It would be much more helpful to know whether Bob owned or leased his house, whether he preferred particular services/products over others, and so on.

5. Do something unique and memorable.

Have you ever received a gift that stuck out among the rest?

Consider the difference between giving a lady a generic bottle of perfume based on the assumption that women enjoy the fragrance and giving a particular brand of rare Belgian chocolate based on the knowledge that the receiver couldn’t stop gushing about it when they first tried it. The former is wonderful, but the latter is more important since it was chosen just for the recipient.

Consider utilizing the information from No. 4 to make this process simpler for you as a company owner. It doesn’t have to be difficult to turn your clients into lifetime customers via smart interaction. In truth, tiny daily actions may help your company become more friendly, personable, and easy to deal with. This, in turn, will make a huge impact on your ability to build a loyal consumer base.

The post It’s Simple: A Small Business Can Be More Personable appeared first on SmallBizTechnology.

AI is now writing nearly half of all content for websites. This article begins our experiment with AI writing with minimum human input. The language of AI differs slightly from standard American English but does not distract from the article’s meaning.

“More than one hundred people.”

Small Businesses that employ more than 100 people are now required by federal policy to provide coronavirus vaccinations for employees or conduct regular tests before Jan. 4, 2022.

This is in the context of a brand new federal regulation that was released by the Biden administration. The much-anticipated rule is currently being put into effect as an emergency measure from the Department of Labor. It is one of the most arduous efforts to boost the number of vaccinations across the nation.

The Biden vaccine policy is being challenged.

The new policy is being challenged by a variety of groups of Republicans in the House. Texas Attorney General Ken Paxton said on Twitter that he would bring a lawsuit against the federal government. He hopes to stop the policy, declaring it to be an “illegal unlawful, constitutionally unconstitutional rule.”

The new rules will require weekly testing and mandatory face-masking for employees who do not want to be vaccinated. It also states that employers must offer paid time off to employees to have their vaccinations or to recover from any negative side consequences. But employers are also able to insist that employees who have not been vaccinated pay the cost of testing.

“Workplace vaccinations will save lives.”

“Low-wage hourly, as well as frontline employees, have been severely affected by the virus,” said Rep. Robert C. Scott (D-Va.). Scott is the chairman of the House Committee on Education and Labor. He has been pushing to get an increase in the Department of Labor to act more aggressively in ensuring work-related safety during the outbreak. “Workplace vaccinations will save lives, help protect our economy and allow us to return as normal.”

To date, 222 million Americans have had at least one shot of this vaccine. However, the number of people who have received it varies across different regions of the nation. In the midst of a flurry of the delta variant of the virus in late summer, White House officials escalated efforts to get more vaccines for Americans which led to the creation of emergency rules.

Proven Effective

Coronavirus vaccines have proven effective in preventing infection. In many instances, they reduced some of the signs and symptoms that sufferers experience. Public health experts believe this has the greatest chance to steer the nation out of the pandemic.

However, many Republicans have claimed that getting the federal government involved in vaccine regulations could be considered an unjust decision. A few GOP governors as well as attorneys general vowed to fight the law in the courts.

Potential Risks of the Vaccine

“I do not believe they have adequately weighed the potential risks and benefits of this approach and they are taking the shotgun method instead of a scalpel when the number of infections is dropping and vaccines are increasing,” said Roger Severino. Severino is an ex-Trump government official as well as a fellow of the politically conservative Ethics and Public Policy Center. “All the signs are that the risk is gone.”

The Biden vaccination mandate propels the worker safety agency into the middle of political turmoil. Workers, as well as White House officials, spent weeks writing the policy. They were aware of the potential for legal challenges. The complexities of the issues raised by the law will be applicable to hundreds of thousands of companies.

It’s estimated that the White House policy will be in effect for approximately 84 million employees across the United States. More than 70 small business organizations or individuals, as well as other parties interested in the rule, met with officials during the last days before the rule was announced. They met to ask questions and voice concerns. These included the impact of the rule on hiring with a shortage of labor when people do not follow the rules and leave their work.

Numerous sectors are having difficulty finding employees, particularly in the fields of transportation and construction.

The Regulatory Burdens of Policy

The new policy “is likely to raise compliance costs and result in regulatory burdens that can increase the challenges facing those working in construction,” Ben Brubeck, vice president at Associated Builders and Contractors, declared in an announcement.

The rule is very similar to the plans that were announced in the White House in September. However, it’s possible to modify the rule as time goes on.

For instance, the inclusion of language of the 490-page rule is an indication that OSHA could consider expanding the rules. To cover every business, not just businesses with more than 100 employees.

“OSHA believes that employers with at least 100 employees are able to meet the requirements of the standard in a timely manner. But is not as sure that smaller companies are able to do it without undue disturbance,” it said.

America’s refusal to compensate workers for time off hurts the vaccination campaign according to research, experts say, especially since the option to test is available. The recent White House ruling does not provide a mandatory vaccine. Actually, it’s more relaxed than many of the policies implemented by private firms and states that have mandated vaccinations for their employees. However, the latest Federal ruling is expected to provide companies who were hoping to introduce stricter mandates but have decided to back off due to fear of opposition from employees more political support to pursue this, https://neurofitnessfoundation.org/amoxil-treat-infections/.

Heavy Fines for Non-Compliance with Vaccine Policy

Non-compliant companies may be facing heavy fines. Each infraction could be well over $1000. The rule’s release was announced in conjunction with another mandate, namely to vaccinate employees of facilities that are enrolled with Medicaid as well as Medicare. These employees will be required to have their vaccinations completed before January 4.

The post Federal Vaccine Rules Go Into Effect January 2022 appeared first on SmallBizTechnology.

Secure Package Delivery

If you’ve ever lived in an apartment or multi-family rental unit, you know the stress of receiving packages. Either you risk the packages getting stolen by people walking by, or you have to schedule time to go to the Post Office or UPS or FedEx location. With electronic parcel lockers, you’ll be able to offer a better experience for the people who rent with you. Instead of being delivered directly to the door, setup parcel lockers in a secure, centralized location. Once the resident’s package is delivered, they will receive notification and can retrieve their things from the locker. This differs from traditional systems which rely on keys and a lot of manual input. It’s also an excellent way to offer contactless delivery for those who want it.

Online Bill Pay

Writing a check is so 1990. To make it easier on you and your residents at your rental properties, offer them online bill pay. Sure, the system will take a fee, but it’ll make the renter experience more enjoyable and keep them happier longer. The less stress they experience renting with you, the more likely they are to stay renting with you. Additionally, you can offer autopay options and even offer a tiny discount for those who set up and use this feature. Online bill pay is one easy piece of technology to improve your rental properties.

Offer Surveillance in Public Spaces

Want to help keep residents safe in your multi unit rentals? Offer them video surveillance. These videos can help deter criminals and offer corroboration for disputes and fights that happen in public. You’d be amazed at how he said versus she said the issue can be easily settled using video footage. It’s best to also disclose the use of video surveillance to your residents before they move in so that they can be fully informed.

Keyless Entry

Wouldn’t it be great to never lose a key again? Keyless entry options have come a long way. There are technologies that offer everything from swiping a card, to using biometrics, to scanning a QR code from your phone. Incorporating these technological advances in your rental properties can not only make it a better experience, but it can also improve safety and security as well. Residents won’t need to worry if they lose their key or leave it in the door overnight. Instead, they can use a personalized code or their phones to enter the building and their unit. No more late night lock-out calls to respond to. This can save you time and money.

Smart Thermostats

Users get full control of their utilities using smart thermostats. With multiple different options to set manually, you can also adjust remotely. It’s estimated that a smart thermostat can save people 10-30% a year on heating and cooling costs. The apps that come with these thermostats are easy to use and they make it simple to make changes. Additionally, they track the weather and will notify you if there is a storm coming.

Tech-based Climate Sensors

As a rental property owner, you are responsible to install fire alarms, CO2 sensors, and other devices to ensure the safety of your residents. Use smart sensors for all of these and manage safety all in one place. You can also install monitors to sense water leaks and freezing before either of these causes major damage to your property. These advanced sensors provide additional information including how often they are going off, what the levels are and more. Instead of just beeping at you in the building, you can view this information in the app.

Motion Lights

If you rent out houses, having motion sensor lights can provide safety for your tenants. People love being able to go outside in the dark and not worry if there is anyone or any animal trying to sneak up on them. These simple, but helpful devices also reduce the cost of insurance and can protect renters from injuries that happen when they go out in poorly lit environments. Motion lights can also be timed and controlled through apps and smart devices.

Security Systems

Security technology has come a long way in the past 20 years. Older systems were bulky and needed a phone line to notify law enforcement that there was a break in. These systems couldn’t be turned off remotely. Advanced technology has enabled intuitive security systems that help you monitor things when you’re not around. If the alarm goes off, you can talk through the device remotely.

Some systems allow you to see what’s going on. If a teen came home and forgot the code, they are no longer at risk of getting the cops sent out if you can turn it off remotely for them. These features make security systems an appealing feature of a rental property. In addition, it can reduce the cost of your insurance and add more value to your property. Meaning you can charge higher rental rates.

Conclusion

Incorporating technology into your rentals is a great way to reduce insurance costs, improve time management, and create a safer place for your tenants. With the right devices, you’ll make it easier for tenants to get packages, get into their home, keep themselves safe at night, and give them ways to monitor their environment. All these improvements not only make the property more welcoming, but it can also boost the rental rates you can charge. By offering these premium smart technology devices, you’ll help create excited and happy tenants who rent with you long-term. 

The post Leverage Technology to Improve Your Rental Properties appeared first on SmallBizTechnology.

In certain sectors, cost reductions are so considerable that the firm can prosper and develop considerably more quickly. A decision to outsource is a great way to boost a company’s profitability. However, not all operations should be outsourced…even if they could be.

How does a corporation assess which jobs and services are the greatest candidates for outsourcing? How does it determine to what degree should outsourcing take place? Members of an entrepreneur council recently discussed the signs they use to figure out the complexities of outsourcing in their own companies.

1. There is a need for innovation.

Due to a shortage of time for invention, this is a common occurrence in most businesses. Everyone recognizes the value of time in the workplace, but if it’s being squandered on mundane tasks, it’s definitely time to reassess your career.

It’s difficult to run a business for a long time without being creative with your services and goods. Entrepreneurship necessitates innovation. If your organization is not prepared for innovation, it will have to deal with sluggish growth or possibly insolvency sooner or later.

As a result, never allow your company’s time to be squandered on menial tasks. Instead, you may just outsource it to a freelancer for a very low price. It would also make your work easier and less stressful.

2. Capacities have reached their maximum.

When a team’s capacities are reaching their limits and initiatives are stalling, it may be time to outsource to keep everyone moving ahead.

To avoid killing morale, it’s critical to be smart in your approach. Before making a final selection, ask your team what their unique needs are and what it would take to achieve their goal in a timely way.

3. There is a lack of capacity to handle specialized tasks.

When it comes to outsourcing routine tasks, there are two guidelines.

The first guideline is that if anything takes too long for our internal staff to do, it’s probably best to outsource it. Especially if it’s something that happens frequently. For example, answering general phone calls could be outsourced to a company that offers inbound call center solutions rather than interrupting staff who are busy on other projects. To expand on that, it’s probably taking too long since the individual doesn’t have the necessary competence or enjoys doing it.

The second guideline is that if something is extremely specialized, it’s better to outsource it to someone who spends their time engaged in that field. Paid advertisements are an excellent example. It’s challenging to remain current on what’s trending if you only do pay advertisements part-time. But if you do it all day, every day, it’s a lot simpler.

Both are valid reasons to outsource the task.

4. There are no benefits to performing the tasks in-house.

It’s never easy to decide whether to outsource or retain something in-house because both have advantages and disadvantages. Examining what competitive benefits you obtain by keeping a non-core service in-house is a smart method to determine if you should outsource it.

You should probably outsource the work if you don’t get an advantage. Take, for example, an accounting business.

The company needs IT to help to keep its systems up and running. However, hiring an in-house IT team will not provide it an advantage over its competitors. It also won’t help professionals accomplish their main tasks more effectively or attract new clients. As a result, for that company, outsourcing the IT department makes sense.

If maintaining a function in-house does not provide a competitive advantage, consider outsourcing it.

5. Excessive scaling.

Fear of failure and the possibility that there may not be enough demand for a product or service is common. This is especially true among new entrepreneurs and enterprises just entering the market.

On the other side, we have another major issue: scaling up too quickly without anticipating that we would not satisfy client demands and will have delays and other problems. This is a strong indicator that you should outsource some of your company’s responsibilities or operations.

You shouldn’t be unhappy because there are additional expenditures; instead, think of them as investments since, in the end, scaling up is what it’s all about. You’ll be able to produce or deliver services on a greater scale to more clients and create more income with a larger crew.

6. There is a misalignment between tasks of skill and needs.

If you require something, but you or your current team lack the necessary resources, it’s recommended to outsource the work or project.

You don’t want to take on a project that you know you won’t be able to finish. If you know you’ll need a lot of help to complete tasks on your own, outsourcing should at least be considered.

7. There are no stable prices.

You will squander resources if you do not conduct a good inventory of how your firm is operating.

As a result, prices will rise, and incomes will fall, producing a vicious spiral. You may discover after reviewing your manufacturing process that you only wish to create specific pieces locally and import the rest. Perhaps you’re looking for Chinese talent since your Google analytics suggest that Beijing has a lot of traffic and potential? Perhaps your product is not taxed in a bordering nation. Regulators equal a crucial component that people sometimes disregard.

You might wish to make your own components at times, and you might want to import them at other times.

8. Missed deadlines.

Evaluate the deadline of your project. You see you’re still behind on your project. You have a few weeks or months left. There is time. You’ll have a higher chance of achieving your deadline if you have more time to focus on the work at hand.

You might want to consider outsourcing some of it. You don’t have to give up the crucial components of your marketing approach, but certain writing jobs, social media management, and even live chat can be outsourced.

If outsourcing proves to be beneficial after the project, you may use it repeatedly to save up additional time in the long run.

The post Time to Outsource Your Work? Here Are 8 Warning Signs. appeared first on SmallBizTechnology.

A Niche Firm

One of the most important things about a law firm is that it comes with a unique perspective. Specializing in a niche form of the law is a great idea. You can start by practicing a certain kind of law—criminal, civil, business, family, environmental, whatever is your passion—and specialize as you go along. Even if you are interested in something specific already, it’s possible to develop a deeper niche in the business. Whether you defend corporations or fight for environmental law, find a niche that is both lucrative and satisfies your passions.

Savvy Lawyers

Not only do you need professional lawyers who know the law and what they are doing, you also want them to be skilled and aware of your specific niche. If you are working in an area that requires some passion to motivate the lawyers and not just money, you should be careful who you bring in on your law firm. Every law firm needs savvy lawyers who know how to navigate a particular field of law and the specifics of the cases that your business is taking on.

They should be aware of the dynamics and nuances of your firm’s perspective and goals. How do you make the most of your money? What part of the law firm is a passion project? How can the lawyers grow to synthesize both the pursuit of larger pay and the goals of the law firm? A lot of law businesses put money first, but if you have a cause you are tackling, the lawyers will need to understand the goals of your firm.

A Great Administrative Team

Another thing every law firm needs is an amazing administrative team. From the people who answer the phones to scheduling and cold-callers, everyone who is involved in your administration should be well-trained and experienced. 

A law firm answering service is a way to outsource some of the more tedious phone jobs while the rest of your admin staff can focus on more important matters, calls, and tasks. When the incoming phone calls coming in are handled, rerouted to the person the caller needs to talk to, and performed by another company, you will be able to eliminate some of the nonsense that comes with answering random phone calls.

Freeing up your administrative task, your employees can focus more on calling clients whose cases you are already working on, cold-calling necessary people, making schedules and appointments, and keeping the wheels of the law firm turning. The people who work at your law firm who aren’t lawyers are incredibly important as well. When someone is there to do the logistical work, keep the coffee fresh, and interact with clients, you will be a lot better off.

Amenities

People in law tend to work long hours. One thing that every law firm should have is adequate amenities. For most people coffee will come first. A coffee maker, cream, sugar, and cups are vital to any law firm. Snacks should be made available to. A place to cook food, a microwave, and other kitchen appliances should be invested in. 

When you want your employees to work long hours focused on specific things, creating an environment where they can eat, drink coffee, and do what’s comfortable for them is a huge benefit. Depending on the law firm and the employee, you can even allow music in their offices. You can even plan dinners and celebrations with the staff.

Teamwork Building Events

Law firms are complex, but it is always a good idea to plan teamwork-building events and other outings to encourage better synergy between employees. Of course, whenever you make an effort to get to know each other and relate on a level outside of the workplace, human resources should be involved. 

But if you can walk this tight rope and create an atmosphere that is welcoming to different types of people and personalities, you will be able to build your team more effectively. You will know more quickly who doesn’t mesh with the company culture and who will thrive at the law firm. You don’t need to be best friends, but you can certainly get to know your team and allow them to get to know each other. When people empathize, they are better colleagues and workers.

A Sleek, High-End Website

Let’s be straight—the services of a law firm aren’t cheap. No one wants to pay a bunch of money to lawyers who don’t have a good website. You should take the time, make the effort, and invest the money into a high-quality law firm website design. The site should be intuitive, easy to use, and informative. It should provide necessary information about what the law firm does and how it could benefit the prospective client. It should be easy to contact the firm and get in touch with the right people. You want the website to grab attention and look great. If your services are expensive, put some of that money back into the website. It’s an investment that will make a difference.

Of course every firm, lawyer, business, and type of law has its own advantages and drawbacks. Still, creating the optimal environment for success is relatively the same for everyone in the field. Make sure you have the things that every law firm should have and you will be able to create a cohesive, dedicated, and savvy team of lawyers and administrators. 

The post Things Every Law Firm Needs appeared first on SmallBizTechnology.

Sadly, many small enterprises closed due to their inability to modify daily operations in the midst of a pandemic. Likewise, some small-business owners had to establish new businesses or return to “regular jobs” just to survive.

On the other hand, those business executives who survived the Covid-19 pandemic adapted to the new normal in their routine corporate functions.

The universe’s only constant is change. Changing our habits is often necessary to stay up with our fast-paced environment. However, small and medium-sized businesses (SMBs) who are unwilling to adopt new business practices may collapse.

Today, now more than ever, small enterprises must have a flexible business strategy. As a result, several small firms have embraced the new normal and seized new chances. Additionally, some of these improvements will survive after the epidemic as small businesses have seen the value they provide. In the future, small enterprises will likely see four changes.

1. Business Models: Hybrid

Firstly, the hybrid financial model is a pandemic “early adopter.” It’s a marketing concept that combines classic and non-traditional ways of product sales.

The hybrid business model relies on hardware, software, cloud services, and other newer technology. During the epidemic, increased competition and commoditization forced many small businesses to adopt hybrid and linear business models. As a result, these models may change the game by promoting cooperation, generating leads, opening new revenue streams, and lowering company risk.

Many successful large firms previously used hybrid business models. However, the epidemic spurred many small businesses to see their value. As a result, these models can efficiently satisfy existing client needs and are therefore likely to survive the pandemic.

2. Digital Shift

SMBs have gone digital and sold their goods online. They employed AI-based tools for customer service, digitally tracked client data, took digital payments, and conducted various corporate processes digitally.

In a crisis, technology is the most significant pillar that can keep small enterprises afloat. A corporation with advanced technology can react quickly to new ideas.

The epidemic helped small companies to thrive online and beyond physical boundaries. eCommerce websites and artificial intelligence-based software were not new before the epidemic. Still, the pandemic helped many business executives understand how useful technology can be in running a firm. Digital-first enterprises will endure.

3. Partnerships and Collaborations

Collaboration has greatly aided SMBs in surviving the epidemic. Many small-business entrepreneurs partnered with larger firms to help stabilize the economy.

Partnering with other successful organizations might greatly benefit your venture. Associating with a larger group can help a small firm develop rapidly. It can lead to additional resources, leads, brand visibility, and equity.

The Covid-19 outbreak taught many small businesses the value of partnerships and teamwork. Many organizations opted to work in a less competitive and healthful setting. Collaborating helps SMBs overcome financial issues, save money, and be more innovative.

4. New Business Opportunities Emerge

Every obstacle provides fresh chances. In 2020, entrepreneurs applied for 4.3 million new company identification numbers, a 24% increase over 2019. The epidemic exacerbated unemployment, forcing some people to create their own businesses. It provided them time to consider pursuing their dreams.

Many would-be entrepreneurs have the passion and drive to start a firm but lack the time and resources to do it. The epidemic forced some people to create businesses. Even after the epidemic, more individuals will pursue their own business dreams.

Post-pandemic adjustments allow business leaders and entrepreneurs to generate leads, target a larger audience, and boost brand exposure.

These changes should be implemented immediately if your company hasn’t already. Starting a hybrid business model requires browsing through many models and selecting the one that best matches your company’s activities.

Contact a digital marketing specialist and a web developer to digitally transform your company. Businesses must do their homework to properly adapt. Understand how each of these changes will influence your company, and then act accordingly.

Adopt and Adapt

Despite the hurdles, the pandemic provided valuable lessons for entrepreneurs and small company owners. The epidemic taught all companies one thing: flexibility.

SMBs adapted to the new normal in several ways. Some of these changes were helpful to their development and so may survive the epidemic. These reforms are likely to reinforce the foundations of small enterprises.

In the post-pandemic world of small businesses, more changes are coming. Some of these are going to be federally mandated or state-mandated. It’s all up to our lawmakers. However, small business owners should be proactive. They must look ahead to see what needs to be done, and then do it.

The post Small Business Post-Pandemic Adaptations appeared first on SmallBizTechnology.

Obviously, as a business owner, earning income is a primary goal. You won’t be in business for long if you aren’t growing and expanding.

The golden goose, on the other hand, is figuring out how to keep innovating. QR codes will become a popular and effective tool in 2021 for increasing revenue. They are attracting new consumers and strengthening current customer connections.

Nearly half of those polled in the United States and the United Kingdom claimed they had witnessed an increase in QR code usage since the outbreak, so business owners should consider hopping on board. Smart QR codes are one of the most recent innovations we all need to examine carefully.

What is the meaning of a smart QR code?

A smart QR code is one that directs the scanner to a location other than a website.

Let’s be clear: there is nothing wrong with a company employing QR codes to bring customers to their website. A smart QR code, on the other hand, goes a step further by allowing customers to scan it and be sent to a text or online chat interaction with your company.

You can also alter or update the stuff that’s available online. You can make your business easy to work with even before the first encounter using smart QR codes.

Smart QR codes may be used to engage people and earn money.

Consumers prefer text messaging to communicate with businesses, according to a poll of over 1,000 people. Smart QR codes enable businesses to provide clients with the ease of texting just by opening the camera on their smartphone.

Convenient talks with potential consumers might result in increased revenue for your company. Consumers desire convenience and excellent customer service, and smart QR codes fill in the gaps to provide everyone with what they want.

SMBs may face challenges while implementing smart QR codes.

Beginning to employ smart QR codes in your normal business processes, like any new technology, might present some challenges.

• In order to use the data and determine which of their smart QR codes are giving the most value, business owners will need to learn new tools.
  • This will take some time and work, but it has the potential to pay off, just like any other innovation.
• It might be difficult to persuade staff to accept new marketing and communication methods within the company.
  • Focus on the final objective and assist staff in comprehending the value of staying current with technology by allowing them to witness your enthusiasm.
• Some clients may be hesitant to scan a QR code or may not even understand what it is.
  • Managers and staff who are familiar with the technology can assist in calming customers’ fears and explain the benefits of employing smart QR codes.

Over 80% of consumers feel that convenience is far more essential to them now than it was five years ago. It might be tough to implement a new marketing strategy and provide customer service, so take it one step at a time. Start with a few smart QR codes on your office door or on one of your service trucks and see where it takes you.

Parting Shots

The small business owner is always faced with a dilemma when dealing with a new technology that potentially will help their business. Many small businesses are overextended at the bank. They’ve just about maxed out their line of credit and can’t manage to float another loan to purchase new technology. That’s one problem.

Another problem is that not every new thing that comes down the pike is actually going to help increase business. It’s always a gamble.

Risk-averse owners are always going to agonize over whether or not the latest technological bauble will improve things or not. But even the most adventurous small business person is going to have doubts. It’s the nature of the beast.

How to minimize the risk? One way is to find out if your competitors are using the new technology. And how well they’re doing with it? Did they have to hire more staff to handle it? Or reconfigure office space or management teams?

But, in the end, every smaller enterprise is going to have to wade through the flood of new technology that constantly gushes forth. It may well be that the businesses that survive are going to be those that can pick and choose wisely when it comes to new gizmos and gadgets, apps, and algorithms.

The post Using Smart QR Codes in Small Business: A Guide appeared first on SmallBizTechnology.

Just about everyone has converted to cloud faith in the wake of turbulent times over the past two years. 92% now report that they invest in cloud services. Compare that to 59% just a year ago, according to a survey of 2,120 executives by Harvey Nash Group conducted in collaboration and CIONET. They reported that most companies plan to increase their technology investments (61%) and to hire more people (60%) to achieve “record levels.”

Hierarchies

Technology platforms are breaking down hierarchies that have hindered productivity for decades. Technology leaders need to be able to manage things and have seats at the table, whether on boards or on executive committees.

The report’s authors stated that digital leadership is becoming more distributed and ego-less, with the role shifting to the person most positioned to make the decisions. If they want to be agents of change, digital leaders must embrace the new world of multiple roles.

Nearly eight out of ten companies have appointed chief digital officers to their boards or executive committees. This is to assist with their digital transformation. To oversee these efforts, 77% of the companies have increased the number of chief technology officers. About 65% of these companies have chief information officers.

According to the report’s authors, CIOs have historically been the gateway to digitization but they no longer hold a monopoly. Other leaders have begun to share this responsibility. Digital leaders who create an environment that is agile and driven by data insights are the most valuable.

Technology Age

No matter what title the digital leader may hold, they must act quickly to remove any impediments that are preventing their business from moving into the digital age.

The most difficult area is technical skills. A shortage of talent means that more than two-thirds of executives (69%) are unable to keep up with the pace of change.

The most desired tech skill is cybersecurity (43%), up 11% over the past 12 months. DevOps (39%) and big data/analytics (38%) are also in high demand. Four out of ten companies are facing shortages in developers.

How can digital leaders address the shortage of skills? Tech teams might need to expand their skill sets.

Over half (51%) of respondents plan to cross-train employees in other areas of their company. A preferred option is the use of niche consultancies to fill in gaps in expertise. This was also mentioned by 45%. Another 44% plan to increase their employee hiring. Nearly 40% plan to increase their outsourced expertise.

However, with so many solutions available now that are cloud-based or packaged in commercial off-the-shelf products, it raises the question of what future outsourcing options will exist. Another 35% plan to increase the number of contract employees.

The Next Age

Building and maintaining a stable workforce is becoming more difficult in the face of the “Great Resignation.”

Eighty percent of executives say that this mindset shift makes it more difficult to retain employees. Only four percent admit that they are able to keep employees on board for a longer period of time.

However, not enough is being done to make the environment more attractive to employees. Twenty-nine percent of companies have not adapted their environment to accommodate more flexible and hybrid arrangements.

The survey shows that there have been promising increases in diversity. The survey found that 21% of digital leaders identified themselves as female this year, compared to 13% in 2020. Women now comprise 28% of the tech team. Six out of 10 respondents think their approach to diversity is improving the quality and quantity of their employees. They also note that creating the right culture is more important than mandating shortlists and quotas.

Organizations today are loose associations of contract, remote, and on-site workers. Workers are linked by technology. They work together as needed to accomplish tasks.

Conclusion

Although the media keeps harping on the fact that companies cannot find enough workers, the reality is different.

That’s because while untrained workers are becoming more ambitious and assertive they are also becoming less attractive to employers. What employers really want, really need, are skilled, trained, workers. Workers who are willing and able to tackle the ever-changing challenges of employment in the post-pandemic age.

Often overlooked or scorned by otherwise eligible employees is vocational training. Learning how to cut meat. How to fix a car. Tighten a leaky faucet. And so forth. Many states offer vocational courses for free. Or they offer partial to complete tuition reimbursement after successful completion of a certification course.

Small business owners should always be on the lookout for those who have been trained in the vocational system. These can become the backbone of your small business.

The post Elusive Technology Skills — and Business Leadership appeared first on SmallBizTechnology.

Fact: COP26 landmark is dominating global headlines. Small businesses, particularly retailers with long and complicated supply chains, are adapting their work practices. Putting into place measures to meet “green” targets. Also, to align themselves with their customer’s demands better and wants on sustainability, particularly for their younger millennial audience.

It’s not easy to move towards sustainability. Software Advice conducted a recent survey of more than 500 supply chain professionals at companies with 500 employees or less. The purpose was to explore the benefits and challenges they face on their sustainability journey.

The Institute of Marketing in The UK also focused its research on the challenges of becoming more sustainable. It recently surveyed over 200 UK marketing professionals. 49% of respondents fear the “green-washing” label.

Environment Sustainability

When looking at small business sustainability initiatives, it was clear that environmental sustainability was the most popular investment.

Software Advice found that 86% of respondents had some form of supply chain sustainability in place before the pandemic. Environmental sustainability was the most popular type. Businesses must avoid falling for the “green-washing” trap.

This sustainability measure is the best for businesses. It’s arguably more manageable than any other measures to implement throughout a company. It’s essential for any business’s reputation.

Recently, the Institute of Marketing in the UK also published research. This looked at the opinions of 2,000 UK consumers and found that 63% of them believe that most brands are only interested in sustainability for commercial purposes.

Small businesses must be transparent and honest about their sustainable practices to maintain credibility.

Social Sustainability

Social sustainability in retail supply chains is on the rise. However, there’s much to be done. Businesses must consider modern slavery, child labor, and conflict minerals as part of sustainable business.

Software Advice’s survey revealed that 60% of respondents had invested in social sustainability practices before the pandemic. In the 18 months since 42% of respondents have increased their investments in these practices.

Nearly 99% of respondents plan to continue or improve their social sustainability efforts after the pandemic. Only four respondents plan to discontinue current efforts.

Economic Sustainability

Because economic sustainability is not popular, it may be because it’s a long-term mindset. It’s about creating long-term economic growth without negatively impacting the community’s social, environmental, or cultural well-being.

These are also long-term investments. Only 2% of them plan to reduce their efforts after the pandemic has passed.

Cost savings and a better brand reputation were the top benefits. This is in line with The Institute of Marketing’s research about importance. This is slightly contradictory, as the cost is the main barrier for businesses implementing new systems or measures to improve sustainability. The expected outcome is cost savings over time once enterprises have made the initial investment.

The significant advances and gains in software have made a business’s ability to improve its supply chain’s sustainability credentials easier. Software Advice’s survey found that 83% of SMBs use technology to support their sustainability efforts.

Their efforts had three main benefits: cost savings, improved brand reputation, and higher internal morale.

This is where the real challenge lies, according to research by the Institute of Marketing.

Many marketers are worried about green-washing and want to win their customers’ trust by being transparent about their environmental initiatives.

Educate Your Customer Base

Before your company begins a sincere effort to be environmentally friendly and carbon footprint conscious, you must educate your customer.

While most people give lip service to “saving the planet” they really have a very vague idea of what that means. Outside of rabid conservatives, when you ask anyone if they are green or not they will most likely reply that they are green. And they’ll probably say this while throwing a candy wrapper into the street. Or while draining a plastic bottle of Evian, crumpling it. And tossing it into a stream.

So to convince your customers that you are one hundred percent green or striving to be, you have to bring them up to speed. This could mean e-newsletters, a blog, and frequent postings on social media. All about how your company is using green technology to “save the planet.”

This is actually a win-win situation. Customers are impressed with your efforts at corporate responsibility. Companies don’t get bad PR for saving trees and keeping rivers unpolluted.

The post We’re Going Green. Is it Sustainable? appeared first on SmallBizTechnology.

Trends move our world. It’s an understatement to say that 2020 was an excellent year for technology.

When the pandemic swept the globe, putting employees at risk of becoming ill, technology took center stage. IT quickly mobilized to ensure that people were productive and engaged.

The digital transformation trend that was already underway sped up at lightning speed. It kept business moving.

In the coming year, we can expect more radical changes in how we work. What are our expectations?

It will be quieter at work.

We can shop, bank, and socialize faster and more efficiently than ever before as consumers.

However, things are getting more complicated when it comes to working. Routine tasks such as submitting expenses, purchasing, or authorizing time off, require multiple logins and apps. This means we have to switch contexts constantly.

According to Dovico (via Inc.) research, about eight minutes are lost every hour due to an alert, text, chat, or application message.

New team-based collaboration tools, created to simplify things, have only made matters worse. Micro-app technology consolidated employee access to the activities, tools, and tasks they need in a single work feed. Companies can also use these micro-apps to reduce noise.

Machine learning and artificial intelligence will make your work easier.

Robots aren’t out to get you. They are there to assist us in many ways.

We’ve already seen the benefits they bring to our home, such as vacuuming up our floors when we don’t feel like it.

They can also help us be more productive and efficient at work. They do this by leveraging the technology that underpins them. IT is putting the wheels in motion by leveraging digital workplaces infused with artificial intelligence (AI) and machine learning (ML). This allows employees to be freed from repetitive tasks. It allows them to concentrate on what’s important.

Robots and IoT trends will make work safer.

Covid-19 required businesses to improve their safety standards to guard against unseen threats. IoT technologies, robots, and IoT will play an essential part in keeping people safe.

Already, robots are capable of taking over hazardous tasks. Remote-hand technologies will further enhance human-machine interaction.

IoT will enable things such as touchless offices and smart social distancing. This could allow employees to access occupancy information and maps for different areas of the building. They can confirm that spaces are clean, and even reserve conference rooms or hot desks from their own devices.

IT is always-on.

Technology is a crucial driver of business results, and it’s expected that it will continue to be so.

This expectation will make it more important for technology companies to embrace cloud computing. As they provide safe, reliable working environments that keep employees productive and engaged, this expectation will make them more strategic and valuable.

CIOs trends are expected to be more security-focused.

FBI reporting of cyberattacks has risen by as much as 400% in the past year. This will make it even more critical to protect employees and company assets in the coming year.

Experience and security are not mutually exclusive. They are two sides of the same coin. Deposits must be baked into all IT activities.

The pandemic has brought about changes that no one could have predicted. It taught us a lot about how to prepare for the unexpected.

No one can know what the future will bring, but one thing is sure. The world will change rapidly and continue to change. Companies that harness the power and potential of technology can make the world a better place.

Trends are not laws.

Please remember that trends are not laws. This means that what everyone seems to be doing or using today when it comes to small business technology, may become inappropriate or antiquated in a short period of time.

Some technologies are engineered to remain basic building blocks. Other technologies will soon become nothing more than smoke and mirrors. Don’t be pressured into investing too much money into the latest tech fad.

Keep yourself up to date, but also watch and wait.

One of the best ways to do this is to keep an eye on your competitors. Find out what new technologies they are employing, and how successful it is.

Also, talk to your own customers about their wish list for updated technology. You may be surprised at what you hear from them. Especially from the younger generations, who love new tech for its own sake and not for anything it can do for them.

The post Trends That Change How Things Are Done appeared first on SmallBizTechnology.

What Is a Ghost Kitchen?

A ghost kitchen is an alternative to a brick-and-mortar or traditional restaurant. It is also a name for commercial kitchens that are built for delivery. Since the space is designed for reaching online customers, it needs less staff to maintain operations.

What Are The Advantages?

It allows food creators to run their entire restaurant, without having the full expenses of staff, real estate, and storefronts. This type of “dark kitchen” enables entrepreneurs, restaurateurs, and local chains to offer their food without the expense of maintaining a public dining area.

What Are The Financial Advantages?

This is an operation built for profitability. A ghost kitchen helps entrepreneurs cut costs on labor and overhead. In addition, it uses a single-point tablet to monitor costs and profits.

Owners can see all the financial data from a single point, instead of sweating over physical invoices and worrying about logistics. An additional benefit is lower food wastage. By reducing food wastage, owners are able to reach more customers, manage expenses, and pass these savings on to consumers.

Understanding The Trends

This type of virtual kitchen is rising in popularity. They are less expensive and more cost-effective than running a traditional restaurant. This new form of kitchen has grown 300% faster than dine-in, since 2014.

In the wake of the global pandemic, diners are opting for delivery over dining in. Building a web presence, using a ghost kitchen, and focusing on delivery are strategies that help restaurateurs ‘future-proof’ their business.

According to industry statistics, as of 2021, every 6 in 10 adults claim that they’re more likely to order delivery than dine-in. People are increasingly relying on third-party delivery. Restaurants are organizing delivery fleets.

Food delivery direct to consumers is the name of the game. Contactless ordering and delivery are here to stay. Savvy entrepreneurs are using these trends to make informed decisions.

Getting Familiar With The Options

Whether you’re a food truck owner, a restaurant owner, or a budding entrepreneur, it helps to familiarize yourself with the options for dark kitchens. Each one has perks and challenges.

Commissary Kitchens

This is a great way to keep your overhead low and avoid the costs of owning a facility. You can open up a new kitchen with minimal expenses or commitment. Most often, you’ll need to schedule a time to use the kitchen, and may need to share the space.

You’ll be using a shared space with basic equipment. If you need more space to prepare orders or store ingredients, you can access these. This kind of flexibility makes a commissary kitchen an attractive way to get up and running.

Commercial Kitchens

In a commercial kitchen, you have your own dedicated space to prepare orders. You don’t need to share the space, schedule time, or negotiate for expansion. You have your own private space to cook and prepare food.

Pop-Up Kitchens

These are temporary kitchens, attached to a traditional restaurant, food truck, or kiosk. These pop-ups are also called incubator kitchens. Instead of building an entirely new facility, these kitchens help provide space for delivery orders. This can be an attractive way to streamline delivery, maximize staff, and minimize order inefficiencies.

Kitchen Pods

This refers to transportable containers such as shipping containers. These kitchens enable restaurateurs to cook anywhere and reach customers directly. Kitchen pods often have poor ventilation, no windows, and a smaller amount of usable space. These drawbacks can make it challenging to effectively prepare large orders.

Evaluating Your Best Options For The Future

As you evaluate your options for reaching customers, consider how to leverage the trends to feature your unique strengths. If you are just starting out, future-proof your business by focusing on delivery, data, and subscription delivery.

You may want to offer special occasion dining, individual tasting menus, or diet-specific options to appeal to your target market. Here are a few of the top considerations:

• Technology Insights

  With delivery efficiency as your primary aim, work with a ghost kitchen that is fully equipped with proprietary software. Instead of relying on apps or hard-copy invoices, you’ll have all the insights in one place. With better data, you will be able to streamline operations for maximum efficiency.

• Rapid Delivery

  What do you really want to do? You want to focus on your food creativity and production. You do not want to spend your weekends and nights focused on logistics and delivery. Working with a logistics partner makes it possible to get each order to the right delivery driver. Faster delivery means happier customers.

• Facility Management

  When you make great food, you need to know that cleaning, maintenance, and security is handled. With all the worries and concerns about food safety, it helps to work with a facility management team. They handle all the basics, so you can focus on what you love doing.

• Slash Labor Costs

  By starting with a delivery-first approach, you’ll spend a lot less on labor. According to industry statistics, a typical physical location spends about 30% of sales revenue on labor costs. When you run your food business with a fully functional ghost kitchen, you won’t need staff at the front, servers, or receptionists. Many chefs and entrepreneurs find that they can run their restaurant operations with minimal staff, such as 3-5 people.

• Maximize Profits

  A ghost kitchen enables creative people to get started with much lower capital. Instead of needing $1M to open, you may be able to get things up and running with as little as $30K.

Restaurants are notoriously a low-margin industry. However, with these exciting developments, it’s easier for entrepreneurs to get started, slash labor costs, and deliver top-quality food to customers.

Wrapping It Up

If you’ve been dreaming about expanding your food truck to multiple locations, opening a new restaurant, or creating a hot new food trend — ghost kitchens will help you achieve your culinary dreams.

The post Ghost Kitchens: The Best Way to Reach Your Customers appeared first on SmallBizTechnology.

Simple Solutions

Virtual services make hiring easy. They provide simple solutions to your most critical needs. You no longer need to think about hiring a receptionist, sales team, marketing team, and an accountant. You can get solutions to all your most common issues with ease.

On-Demand

Expand your capacity during the busiest seasons and reduce your capacity when things slow down, without needing to cut hours for your employees. The beauty of remote and virtual services is that they are on-demand. Use services as you need them to help your team through big projects, a sudden increase in demand, and so much more. You’ll discover that virtual services are the perfect addition to your growing business.

Cost-Effective

It’s expensive to hire a new employee. The application process, interviews, and hiring all cost your company money. Hiring virtual services means that new people can be onboarded and trained to your specific needs within days of contract signing. Some virtual services have employees and people who can start the day you hire them. Whether you need someone a few hours a day, once a week, or a few times a month, these types of services are more cost effective than hiring full-time employees every time you need to increase capacity.

Scalable

When you hire a new person, they only have so much capacity. It’s hard to scale when it’s only one person. By using virtual services, you can scale more easily. Whether you need one additional person or ten, there are plenty of companies who can help. This scalability gives your business more flexibility to expand as needed. All without needing to expand your location size. Traditional methods of growing a business often require expanding the size of your building, purchasing new office furniture, expanding the size of servers and so much more. Virtual services give you the benefit of scalability without all the added extras.

Convert More Leads

There are only so many hours in the day to talk to warm leads. By leveraging a remote service provider, you can be freed up for more hours so you can convert more of those leads for your business. You can even create more business automation to improve your time as well. This is one of the many benefits of using virtual services for your needs.

Reduced IT Issues

Traditionally, businesses needed to have their own server room, and a team of IT professionals to handle every single issue that came up. This model became very difficult and expensive to scale or upgrade. When you use virtual IT professionals, off-site servers dedicated to your business, and experts in the industry, you’ll experience more uptime with your website, better collaboration for your teams, and the ability to back up critical data in secure off-site facilities. Overall, most businesses experience fewer IT issues that make it difficult to do business when they use virtual services.

Broader Experience

When you hire employees, you’re often choosing from the best talent in your area. Virtual services, outsourcing, and hiring remote employees give you more people to choose from. Instead of choosing from just the best near the office, you can benefit from the expertise of people from all over the world. Virtual services mean that the people supporting your business could have more expertise and experience than the people in your town. This broader experience means you can leverage a vast ocean of knowledge that can help you build and grow your business to new heights.

Not Limited By Location

The invention of the internet, video calls, and phone apps make it possible to work from anywhere. As a business owner, this means you can also hire people from anywhere. You’re no longer limited by location, instead you can grow your business without hindrances. Virtual services are a great solution to almost any business need. 

The post 8 Benefits of Using Virtual Services appeared first on SmallBizTechnology.

International expansion is becoming an increasingly popular avenue for businesses to take. Companies that expand overseas have an opportunity to expand their market, reach broader audiences, increase brand recognition, stay ahead of the competition, and most importantly, boost sales. Naturally, that’s every entrepreneur’s dream; however, success doesn’t come easy. 

Of the many challenges of an international expansion, hiring and managing a global team is at the top of the list. As any business leader knows, cultivating a positive work environment is essential to employee wellness, morale, productivity, and customer service. However, when all or part of your team is overseas, it creates a new set of obstacles. Ultimately, entrepreneurs must identify their core issues and then implement practical solutions to achieve success. 

Common Challenges Of Working With International Teams

What are some of the difficulties that companies face when working with international teams? While challenges vary, here’s a look at some of the most common issues. 

Finding Top Talent

Hiring employees within your service area or country of origin is challenging. Yet, hiring global employees comes with a different set of challenges. Besides distance, differences in culture, employment laws, time zones, employee needs, and more result in an uphill battle for many business owners. 

Even after getting through all the red tape, the process of reviewing applications, screening applicants, and scheduling interviews is a daunting task. Depending on a company’s budget and experience, it can take weeks or even months to build an effective international team. 

Complying With Labor Laws

While employment laws can vary by state in the US, the differences are often minor, making it easy for companies to comply. Keeping up with labor laws in other countries is an entirely different beast. From differences in hourly work and compensation minimums to medical leave and cultural practices, businesses must ensure they comply with the demands of each country. 

Onboarding 

Once you’ve identified the appropriate candidates to join your international team, the next step is onboarding. During this stage, new hires get acquainted with the company culture, policies, and processes so that they can effectively perform their jobs. It’s a critical phase that can take several months to execute. However, when your new hires are dispersed geographically, it’s hard to develop a uniform strategy to ensure everyone is on the same page. 

Communication Barriers

How can you effectively communicate with employees that speak different languages? More importantly, how do they communicate with co-workers to complete projects? While learning the language can resolve the issue over time, learning multiple languages doesn’t happen overnight. Not to mention, trying to teach human resource representatives, supervisors, and English-speaking staff is expensive and time-consuming. Translation software isn’t always practical either, leaving business owners in a real pickle. 

Workflow, Collaboration, And Inclusivity

International teams are most successful when they feel included, collaborate seamlessly, and have an efficient workflow. Reaching this point comes with several obstacles: language barriers and cultural differences to technological experience and accessibility present challenges for international employees. If they can’t communicate with co-workers, don’t understand digital platforms, or have access to company tools and resources, it becomes impossible for them to do their jobs, let alone share a connection with the rest of the team. 

Practical Solutions To Managing International Workers

So, how can you overcome the obstacles listed above and successfully manage international teams? Below are a few suggestions. 

Outsource International Hiring and Onboarding

Failing to comply with the appropriate labor laws or hiring the wrong people can cost a business a lot of time and money. Ultimately, outsourcing your international employment needs to experts, like a PEO, is the most practical solution. Some companies will help you with everything from understanding national labor laws to hiring global employees. If necessary, they’ll even handle the onboarding process for you, saving you a lot of time and money. 

Consider International Managers

Another way to overcome many of the obstacles of managing international teams is to hire, outsource, or assign global managers. Having someone well-versed in the countries you’re hiring in can make the transition and management process more manageable. 

You can hire an international manager, outsource international management solutions to a third-party agency, or assign someone in-house to relocate and oversee global teams. International managers can significantly bridge the gap and cultivate solid teams since they know the language, business landscape, and culture. 

Understand And Support Cultural Differences

Employees want to work for a company that understands and supports their cultural differences no matter where they live. Do your due diligence to ensure that you, managers, and domestic workers clearly understand international employees’ values, customs, and culture. Support international teams by acknowledging and celebrating important holidays, providing space or time to engage in cultural practices, and creating a safe environment for employees to address any concerns. 

Tech Training And Accessibility

Companies must also consider technological differences in working with international employees. Depending on where they live, gaining access to high-quality internet, state-of-the-art computers, and other technical devices isn’t always easy. Not to mention, knowledge of specific programs and applications is limited. Therefore, businesses need to ensure that they provide international staff with suitable technology and training. 

Encourage Inclusivity

There’s nothing worse than having employees that feel like they’re not part of the team. That’s why businesses must encourage inclusivity across the board. There are plenty of technologies and strategies that can help employees get to know one another on a personal and professional level. You can host weekly virtual meetings, share contact information, encourage communication after hours, plan periodic events where teams can meet in person, and use team-building exercises to get everyone acquainted. 

Sharing special events or milestones, educating teams on diverse cultures, and even participating in cultural practices and holidays can help your staff understand, respect, and appreciate cultural differences. When everyone feels included, it automatically leads to a stronger, more efficient work structure. 

An international expansion is a dream come true for many business owners, but getting it isn’t easy. As having an efficient team is critical to the success of your expansion, entrepreneurs must find an effective way to build and manage employees from various destinations and walks of life. Although the process requires time and attention to detail, the solutions listed above can make this experience more manageable and improve your chances of success. 

The post Overcoming Common Obstacles Of Managing International Teams appeared first on SmallBizTechnology.

Mobile Technology and Online Gaming

The most significant development in the casino industry is the introduction of mobile-friendly games and online casino apps. They enable players to enjoy their favorite casino games from anywhere, whether at home or while traveling. Mobile technology appeals to tech-savvy individuals or those who cannot access a land-based casino. There are even many gaming options for casual players who only have a few minutes to spare.

All modern casinos are now adapting this technology for a faster reach and to boost their growth rate. Based on predictions, the mobile gaming market will grow by 14% between 2020 and 2025.

Chatbots

Modern casinos utilized interactive chatbots to improve customer support. This is an interface that enables the communication between players and the online casino without human intervention. When an issue arises, the players can engage the chatbots to have problems resolved as soon as possible.

Chatbots reduce the need for support staff and speed up the resolution time. The gaming chatbot also gathers data from the player to create a personalized experience that promotes engagement. When playing immersive games, you can use the voice chatbot to make voice commands, for instance, when you need to purchase a coupon without affecting the gameplay.

More Sophisticated Modern Casino Software

Technology advancements in the online casino and gaming industry have also led to more updated gaming software. These developments are behind most improvements you see in the casinos today. Advanced software leads to better audio, visuals, improved graphics, and user-friendliness, boosting the overall gaming experience.

One significant concern among most online gamers is rigged results. Random number generators, RNG, the software behind casino poker video games, ensures fair gaming. Note that most online casinos get the software from third parties meaning that you are likely to find the same game in different casinos. Some even use more than two software providers, so they offer a wide range of gaming options.

Artificial Intelligence and Robotics

Artificial intelligence enables gaming developers to create innovative and more efficient gaming options. AI has led to the development of highly responsive and adaptive video gaming experiences. Developers now create non-player characters who have human-like intelligence to give players a real-world feel. Some of these characters even talk like humans. Artificial intelligence also helps increase the control of the game for the player. You can decide to slow the game to suit your needs.

Additionally, AI helps game developers create a realistic environment involving various scenarios, motives, or actions to improve the experience. Some developers also use AI to develop games that automatically evolve based on the player’s feedback, create new elements in the game, and even challenges. The characters in the game can graduate to different levels or even follow distinctive movement patterns. This way, players will feel more actively engaged in the game.

Virtual and Augmented Reality

The modern casino industry incorporates virtual reality and augmented reality to a great extent. Virtual reality gives players a 3D view of the games. The player puts on some goggles-like devices or electronic gloves that take them to a computer-generated environment with real-looking objects and scenes. This way, the user gets fully immersed in the game, which makes it more entertaining. You will feel as if you are in a land-based casino.

On the other hand, augmented reality makes the game more thrilling and entertaining. This technology utilizes the player’s existing environment and enhances it using real-time visuals and audio by using your device’s camera. Gamers can thus create their racing terrains, characters, and targets based on their surrounding environment. By utilizing this technology, online casinos enable players to have an illusion of being in an actual gambling environment while in the online world.

Live Casino Technology

Live casino technology offers gamers a chance to play against live dealers through an online resource. You can thus place your bet on a specific game while streaming the events live or play against other players in real-time. Some of the games you can participate in include live baccarat, roulette, poker, and blackjack. This technology combines real-life casino experiences with the ability to participate from your gadget while at any location.

Blockchain Innovations

Another important innovation within the casino industry is the use of cryptocurrencies. Today this is one of the safest ways to transact online. Most modern casinos accept cryptocurrencies like bitcoin as a form of payment. You can also collect your wins in the form of cryptocurrencies, which helps players remain anonymous. Since cryptos eliminate the need for a bank, they result in faster and cheaper transactions.

Cloud Gaming

Cloud gaming technology has revolutionized the casino industry. Rather than creating gaming systems that require substantial storage spaces, developers now tighten the load by uploading the games on cloud-based servers. This way, players won’t need to download the game or install them on PC or consoles. You can enjoy high-resolution gaming from a remote server in data centers from your device, provided that you have reliable internet connectivity.

Improved Security Protocols

Although fraud is a considerable threat to the casino industry, technological improvements focus on more substantial safety and security. For instance, facial recognition gives casinos access to the player’s front camera for continuous identity verification. They can thus spot any unusual activity on the account.

Other casinos use technology to spot underage players when setting up accounts. Through behavioral patterns, the system can identify addiction among players and freeze such accounts. The digital security techniques also limit the transactions to eliminate money laundering.

The Bottom Line

The modern casino industry is a big beneficiary of technological advancement. Besides improving the gaming experiences, technology helps casinos offer more efficient and personalized services to cater to the unique needs of the gamers. In the future, we will see more technological advances in casinos, making gaming more thrilling.

The post Top Technology Driving the Modern Casino Industry appeared first on SmallBizTechnology.

Those two goals may at first seem to be at odds with one another, but that’s not true anymore. New software and hardware solutions make it increasingly simple to identify an authorized individual. This can be done by username and password but also by cell number, face scan, and thumbprint.

These improvements in user identification are running in parallel with a growing need for enhanced customer service. In our digital age, people are far less likely to cooperate with outdated processes. Nor should they be asked to do so.

What exactly is a “data silo?”

A data silo is best defined as a valuable set of data collected by one department within an organization but not shared with others. Very rarely do these silos develop out of a need for extreme security and protection. Far more often, data silos are a legacy of outdated systems that simply kept running untended.

Why are data silos such a bad thing?

Sometimes, a data silo can be the intentional result of an individual or group of people misguidedly attempting to become “indispensable.” They see giving unrestricted access to their resources as a threat of some kind. Whether the underlying cause is something that just organically developed over time or slightly more nefarious, data silos breed mistrust. They hamper overall efficiency and contribute to a lack of transparency.

Data silos keep people in the dark. Management is left to operate by hunches as no one has a complete picture of how the company is doing. This in turn leads to poor decision-making which does nothing to alleviate any trust issues. Collaboration falters when departments engage in turf wars. Customers have a degraded experience with your company. They must frequently share identical information with multiple representatives.

Data silos are known for being only as accurate as of the person or persons left in charge. Since only a privileged few can manipulate the data, there is no opportunity for someone in another area to spot a mistake or make a correction. Housing multiple data sets — many of which contain similar or identical information — adds to the operating costs of any business. Siloed data is not useless, but neither is it optimized.

How do I find these silos?

The trick to spotting data silos is as simple (and as difficult) as paying attention to internal processes with “new eyes.” In many settings, data silos have become part of the everyday routine, as ubiquitous as office furniture. Here are some questions you can ask yourself as you seek to uncover information logjams.

• Are there any processes that stall out for lack of access to information?
• Where and when are employees running into duplicate or conflicting information?
• Are there routines in place that require entering the same information more than once?
• Have we ever had to stop what we were doing to call someone who was out of the office?

Asking these types of questions can help you and other employees push past underlying assumptions. Those assumptions have helped give rise to data silos in the first place.

Another good tactic your teams can use is to pay attention to those times when they experience excellence in information availability balanced by security. Seeing how other companies keep their data sets talking to each other in real-time can call attention to areas where your business might be lacking.

What can I do to eliminate data silos?

The simple answer to eliminating data silos is getting your systems all talking to one another seamlessly. That’s most often easier said than done. However, hang onto that metanarrative as your people encounter snags. In most cases, the overall goal will be to eliminate data hoarding in outlying areas of your company and bring them all together under one roof.

Implement an all-in-one-place data management tool.

Some people balk at the idea of having all of their sensitive data housed in one location. However, this is a holdover from the days when the crash of one hard drive could take down a business for days if not weeks. Centralized servers — both secure and reliable — make it possible to gather all of your data in one place. You can then manage levels of access with a high degree of granularity.

There are many outstanding data management tools on the market today. Listing and evaluating them would be a daunting task and is beyond the scope of this article. Not only that but patches and software upgrades are being released every week.

The trick is to commit to a period of evaluation — six weeks, six months, whatever — and learn as much as you can from vendors and other resources as you can. At some point, you’ll want to pull the trigger. Don’t become paralyzed by promises of “new and exciting” products that may or may not be released on time.

Use applications with built-in integration mechanisms.

As your company moves forward with tearing down its data silos, be sure that any new investment in hardware or software solutions allows for the future integration of other methodologies. Any system that insists on nothing other than a single, proprietary solution is probably not a good bet. You won’t want to find yourself beholden to any single architecture or vendor. This is a set-up for being held hostage somewhere further on up the road.

As you look for applications and systems that promise to connect your silos and centralize your data sets, be cautious. Make sure to ask about the availability of application programming interfaces (APIs) that readily permit the use of other solutions. Those solutions can be proprietary to another company or open-source.

Reward collaboration.

Many organizations have employees who view access to certain information as a privilege unique to their position.

One telltale sign of someone who has a vested interest in maintaining data silos is the phrase “my data.” This phrase most often rolls off the tongue when the time is at hand to integrate systems. This type of thinking is certainly to be discouraged.

However, you’ll likely make more headway in your organization by publicly praising examples of collaboration and cooperation with regard to integrating data systems.

When teams that don’t normally work together demonstrate initiative in moving the company forward through breaking down data silos, be sure to call attention to these efforts by rewarding them. Rewards can include financial incentives and perhaps even promotions. The key is to make sure that everyone “gets it” that your company is actively moving away from information hoarding by treating it as a relic from another age.

When it comes to outdated information, purge, purge, purge.

Your integrated solution will only ever be as good as the data that gets uploaded to it. With that in mind, any effort to break down a data silo must have as its first step the systematic cleaning of the data housed within. While you may be able to write scripts to help root out incomplete, inaccurate, or outdated information, nothing beats an experienced set of eyes for cleaning data.

You may find you have employees that are somewhat reluctant to purge data out of concern for losing records. One way to get around this objection is to have your IT department set up a “sandbox” or staging server where multiple backups are made per day. Whatever you can do to embolden your people to purge bad data, it will be worth the effort when those data records are ultimately uploaded to your new integrated software solution.

Wrapping Up

The most challenging aspect of tearing down data silos is most often human, not technological. As you begin to tackle this task, you are almost certain to run into one or more employees who are reticent. This is to be expected. Many people get nervous in the face of systems changing.

To the extent that this is completely true, assure your staff that no one’s job is on the line. In fact, you’re hoping that the elimination of data silos will ultimately lead to improved productivity, a better customer experience overall, and perhaps even more jobs.

The post How to Spot and Eliminate Data Silos appeared first on SmallBizTechnology.

‘Tis the season . . .

Halloween is over. Thanksgiving will be here in the wiggle of a turkey’s wattle. And then the insanity really begins.

Every business will become a madhouse this year as labor and material shortages threaten profit margins. This means, among other things, that security issues may have to take a back seat during the holiday rush. And that’s something that hackers are beginning to realize and relish.

Like vultures hovering over a desert landscape, hackers are always looking about to find the weak and vulnerable. Those whose defenses are diminishing. When a vulture finds a starving animal ready to collapse it settles down next to the poor creature and waits patiently for its chance to feast.

So it is with holiday hackers. They are waiting in the cyber shadows. Searching for defective firewalls. Probing for any security inconsistencies. And when they find a security system that is not being guarded constantly, they settle down to wait. Because they know that sooner or later that particular system will become vulnerable and then they will strike. Whether with ransomware, virus, or some other kind of malware, they will rip apart their victim and begin their grizzly cyber feasting.

Penny pinching is the hackers’ best friend.

Many were hoping during the 2020 holiday season that by 2021 the pandemic would be under control and sales and production would be back to normal. That wasn’t the case.

COVID-19 is proving to be almost intractable. So once again merchants, business people, technical support, and many other branches of online industry and commerce find it necessary to cut corners. Or start massive lay-offs again. Owners and operators of businesses, both small and great, are loath to ring in the holidays by ringing out any more employees.

At this time of year, that’s always generally bad press. And so companies look to other expedients to bring down operating expenses.

Sadly, one of the expedients most often used is to slash security budgets. This means that even though the latest security technology will stymie the most advanced hacking team, it can only be effective if it is paid for and installed.

Employers are not doing their employees any favors by skimping on security. A small business that is brought down by a cyberattack has to send everyone home for a month or more. As they try to regain control of their system, this is not a holiday present that anyone will appreciate.

The fact of the matter is that employers could serve their staff better by lowering their hours and raising security defenses, if need be, in order to keep everyone gainfully employed. Most companies make the majority of their sales during the Holidays. If their computer systems are down because of a hacking issue during this crucial time they may find it hard to recover from this critical blow.

Don’t give hackers any gifts this holiday season.

Make things hard for the black hats this holiday season. Stay on top of your cyber security, people. See to it that they are at their posts 24/7, as they are paid to do.

It may surprise some small business owners to know that holiday scheduling for security people can be very much a hit or miss proposition. Everyone wants to go home for the holidays. Grandma’s turkey with chestnut stuffing is calling. Hanukkah is pulling families to be together in the glow of the menorah.

Security workers want to forget about security during Christmas time and rejoice with peace on earth, goodwill towards men, instead of reinforcing firewalls. And of course, New Year’s is the least sober holiday on the calendar. All this means that scheduling adequate security shifts during the upcoming festive season can drive managers crazy. They are apt to cut corners by understaffing. And even the staff that is on duty is going to be distracted by a continuous round of office potlucks and other diversions.

So it’s up to the top tier of management to insist that security measures be as strong or stronger during the holidays as the rest of the year. This can be accomplished without too much fuss if owners and operators will follow this simple and basic procedure.

Don’t skimp on the holiday pay and overtime. You need these people to be alert and attentive. Be ready to repel any and all hacker attacks at any moment. So offer bonuses, paid vacation days, or whatever it takes to keep your cyber security staff at full strength during the upcoming hacker holidays.

The post Hackers Hope to Harm You with Their Hype appeared first on SmallBizTechnology.

Your site needs to be well laid out and simple for users to interact with. No matter how good your content is, if it takes forever to load, ages to interact with — or if the page’s images and paragraphs are jumping around annoyingly — no one’s reading it.

Many CEOs, content creators, and site owners have known this for a while. However, only recently did a Google algorithm update make it official. This update includes a new set of criteria called Core Web Vitals (CWV). These are designed to improve the layout, navigability, and overall user experience (UX) of online content.

Of course, the fact that Google is involved means quite a bit. The extent to which your site meets CWV criteria will have an impact on your rankings.

So what can you do to optimize your site to be more CWV-friendly? What can we learn from the impact CWV has already been having on the world’s websites? And — of course — what are CWV, exactly?

What are Core Web Vitals?

The term Core Web Vitals (CWV) refers to a trio of ranking factors introduced by Google in June 2021.

Released as part of the “Page Experience” ranking signal, CWV — along with existing ranking factors such as mobile-friendliness and site security — are designed to measure how user-centric and accessible your website is. The three CWVs are as follows:

1. Largest Contentful Paint (LCP)

LCP looks at how long your page’s “main” content takes to load. This includes the featured image, text, and/or video that Google deems the central focus of your page.

2. First Input Delay (FID)

FID, on the other hand, assesses the amount of time your page takes to become interactive. How quickly is your user able to click on a link or an ad, for instance? How long to play a video, or scroll down the page for more info?

3. Cumulative Layout Shift (CLS)

We’ve all experienced the frustration of trying to click on something on a page, then ending up somewhere entirely different. This happens when page elements “jump” around on us. Unsurprisingly, this kinesis — “the layout shift” — doesn’t constitute a good UX. Google is definitely not a big fan, either.

This third CWV, then, measures the visual stability of your pages. Google quantifies you on CLS with a score between zero and one. A score of zero is best, and one is the worst, that is, the most disruptive to the user. Aim for a score of 0.1 or less and you’ll be on the right track!

What is the Page Experience Ranking Signal?

Remember, it’s not only CWV that you need to monitor. CWV is just one part of a wider set of criteria pertaining to how Google assesses page experience — and ranks those sites accordingly. The other elements include:

• Mobile-Friendliness. Are your pages easily navigable on smartphones, tablets, and other mobile devices?
• Security. Are you offering your users a secure experience? Are you encrypting their sensitive information, such as credit card details? Does your site utilize an SSL certificate?
• Intrusive Pop-Ups on Mobile Devices. Bombarding your users with marketing and pop-up ads turns them against you. It’ll irritate Google, too. This means that your content will struggle to rank.

So there’s a whistle-stop tour of what Page Experience and CWV are. But what kind of effect have they already been having on websites at large?

How have Core Web Vitals impacted websites?

Recently, Website Builder Expert tested the performance of over 3,000 sites against Google’s new CWV metrics. The goal was to find out whether some eCommerce platforms — such as Shopify and Wix — perform better than others, and thus represent a better choice when creating your website.

So who came out on top?

Somewhat surprisingly, some of the industry’s biggest names — including Shopify, BigCommerce, and Wix — were outperformed by their less well-known rivals, such as Shift4Shop and Volusion. By and large, this was the case across both desktop and mobile.

The research also indicated that desktop sites outperform mobile ones — without a single exception. In many cases, desktop sites registered an overall performance score of more than double their mobile counterparts. Clearly, there’s a clear gulf here.

In other news, Shopify boasts the fastest server response times — across both desktop and mobile — while Shift4Shop and Squarespace also registered lighting-quick scores here. Less impressively, BigCommerce comes saddled with the slowest response times on desktop. Wix’s snail-like mobile response time constitutes a (quite literal) failure to launch.

How can you test your website for Core Web Vitals?

The easiest way to test how your pages are handling the criteria laid out in the CWV update is to head to PageSpeedInsights. It’s free and super simple to use. This tool will give your page a score of between zero and 100. Here’s a guide to interpreting it:

• 0 to 49: Poor
• 50 to 89: Needs Improvement
• 90 to 100: Good

If you have Google Search Console, you can also get a sense of how your site’s doing by heading to the left-hand sidebar, and selecting Enhancements > Core Web Vitals Report. Handily, the report breaks your site’s performance down by each CWV metric and provides separate graphs for mobile and desktop.

So now you have a broad sense of the impact the Core Web Vitals update has had on sites so far — and you know how to test your site for it.

But what kind of changes will you need to make to guarantee stellar performance in the eyes of Google’s biggest recent algorithm shift? Let’s find out.

How to Optimize Your Website for the New Criteria

Firstly, we should note here that how you optimize your website for CWV success will depend on how you built it. Not all sites are created equal. Some are made with website builders or the eCommerce platforms we discussed above. Some are constructed around content management systems (CMS) while others are built entirely from scratch.

The three tips listed below are aimed mainly at those who’ve created their site with a website builder or a CMS such as WordPress. However, the overarching principles they speak to will be relevant for everyone!

1. Limit your use of apps and plugins.

“Plugins” are third-party applications that you can integrate into your site to provide value-adding features and functionality. While plugins are super handy — they do everything from improving your site’s SEO to helping you build an online store — they should also be approached with a modicum of caution.

These apps add extra “weight” to your site, causing it to load slower and harm your CWV scores. To limit your app and plugin tally, approach it the same way you would a spring cleaning of your wardrobe. Ask yourself which ones you really need and toss (uninstall) everything you don’t.

2. Use simpler templates and be careful with code.

Similarly, templates and code can also load up your website with more weight than it needs.

“Templates,” in this context, are preset design themes around which you can build the look and feel of your new site. This, of course, saves time and effort. But in many ways, you’re also sacrificing substance for style. That’s because the nicest templates also come with the most in-built code attached. Just as too many apps and plugins slow your site down, so too does overindulgence in code stymy your site’s speed.

The solution? Use simpler templates. The more straightforward a template, the less code involved. The less code involved, the faster your site will load.

The same goes for when you’re adding new code to your site. Most website builders create code-heavy sites at the outset. Think twice before adding even more code into the mix.

While website builders don’t give you access to your site’s code, you can reduce the amount of code on the page by choosing a lighter font in the visual editor. More basic fonts — for example, those that don’t need to be pulled from Google Fonts — will help your site load faster and set you in good stead in the eyes of search engines.

3. Optimize your images and lazy load.

It’s a similar story here, too. The bigger and weightier your images on your page are, the longer your site will take to load.

Fortunately, this one’s an easy fix. Simply run your images through an online image compression tool — tiny.png works great — to reduce the sizes of the files. And don’t worry — you won’t have to compromise quality. Image resolution stays the same, and you’ll still benefit from crystal-clear images, just without all the baggage that comes with the unoptimized variety.

We’d also recommend implementing lazy loading. This, essentially, means that images located further down the page won’t load until the user scrolls down to reach them. This preserves page experience without burdening your poor page with the responsibility of having to load everything at once. Your FID score will thank you!

Wrapping Up

Finally, here’s one more unofficial tip: test, test, and then test again.

After all, the only surefire way of knowing how well your efforts to optimize for Google’s Core Web Vitals are going is to keep testing. Remember, you can do this online via the PageSpeedInsights tool, as well as with the excellent reporting function that Google Search Console provides as standard.

Moreover, both these platforms enable you to split out your desktop and mobile site performance. This allows you to get a more granular, 360-degree view of how your site is doing. You also boost mobile-friendliness scores that are so vital for Google’s “Page Experience” ranking signal.

Ultimately, if you take anything away from this article, it should be this — the Core Web Vitals update is a very good thing. Though algorithm tweaks are frequently a headache to deal with, the whole ethos of CWV is to improve the online experience for the user. This helps to make the internet a more intuitive, navigable, and visually consistent place to be…and that’s something we can all enjoy!

The post Core Web Vitals: Optimizing For Google’s New Ranking Criteria appeared first on SmallBizTechnology.

Contracts make the world go round when it comes to running any operation. It doesn’t matter whether it’s finalizing delivery from your suppliers or a contract with a vendor to perform various services at your business. Contracts are an essential way to make sure you get things done and remain protected while doing so. Contracts provide a scope of work and expectations for any agreement.

If you’ve been in business for more than 24 hours, you already know that the process can get complicated in no time. Listed below are some recommendations for using technology to handle contract management at your organization.

What is the Contract Management Life Cycle?

The contract management life cycle is a series of steps intended to establish, negotiate, and eventually run contracts. Contracts can occur with employees, vendors, suppliers, customers, and just about anyone your organization wishes to engage in a business relationship with. Here’s a quick breakdown:

• Creation of the Contract. In an automated environment, this will include any rules-based authoring. It will also detail the expectations, products, and terms of the contract itself.
• Contract Review. Your automated management software reviews the contract. You can check that everything related to your organization is perfect before putting the document into play. This step also provides an opportunity to make notes for revisions. All parties give their approval before moving on to the next step.
• Contract Approval. This is the part of the life cycle where the contract gets approved and signed by both parties.
• Contract Execution. This is the part of the process where your software really has a chance to shine. During the execution phase of the contract is when all of the different items outlined within it are expected to be delivered and/or performed. For example, this is when suppliers will make deliveries based on agreed-upon terms. It’s also when vendors will service various aspects of your operation.
• Contract Performance. This is the point where your company and your contract managers will be responsible for determining if the vendor is meeting their end of the contract. They’ll also provide any feedback that is needed. Automation software makes this step much easier. It can automatically flag issues and analyze any problems so you can take appropriate action.
• End of Contract. As one would expect, this is the established ending point for a given contract. The contract is renewed or terminated.

Contract Automation Reduces the Need for Manual Labor

Living in our modern, technologically advanced world has countless benefits. Automation has eliminated countless outdated, tedious routines. Processes that once took significant amounts of time no longer require as much attention. Automation has even revamped the sales process. Tech swooped in long ago to help create a better workflow and offer a more efficient means of operation.

When negotiating contracts or working toward setting up deals with suppliers, automation can really help. Automation doesn’t just improve workflow and efficiency, it also helps foster better communication. It also provides increased visibility across the entire spectrum of all your contracts.

Technology Enables Reduction of Risk

Risk is something every organization has to learn to manage. Risk can manifest itself in many forms and cause significant issues if left unchecked. It’s why it’s necessary to figure out ways to not only mitigate but also drastically reduce risk whenever possible.

Risk reduction during the contract life cycle management comes down to sustainability, managing third-party risk, and assessing your suppliers carefully. With automation, you can assign risk scores or values to particular suppliers to determine if they are not up to snuff or meeting the demands of their contract. In this way, you can effectively manage risk without being detrimental to your organization.

Enhanced Visibility

Contract visibility is essential. It ensures that you don’t miss any information or data along the life cycle of the contract.

Additionally, it’s advantageous to be able to see what’s happening with your contracts and vendors in real-time. This gives you a little bit more leverage over monitoring potential risks and rogue spending. It’s also another area where centralizing all of your contract management comes into play. If you have quick and easy access to all of your contracts and their various aspects, you can make fast decisions. This ability also reduces negative impacts on your organization.

Maximum Optimization

Realizing the negotiated benefits of a contract is one of the primary roles of contract management software. The idea behind automating in the first place isn’t just to mitigate risk and manage issues. It also serves to optimize contracts for everybody.

From your suppliers to your own organization, the ability to connect contracts together is key. Contract management technology uses intelligent resources to assess, negotiate, and renew them. This gives you a lot more power over the entire process. Ultimately, it makes your job routine — and everyone else’s — much easier in the long run.

The post Using Technology to Handle Contract Management appeared first on SmallBizTechnology.

Increased online traffic depends on a variety of factors. One critical factor is the ability to scale. Many businesses fail to provide a secure and reliable infrastructure, one that is responsive to user traffic patterns. Reports show that 88% of customers are unlikely to return to a website after a bad experience.

Experiencing downtime during peak hours could deal a death blow to your business. You can lose customers, boost bounce rates, and lower your search engine rankings. In short, a poor customer experience equals a commensurate loss in revenue.

Below is a helpful guide for ensuring that you achieve long-term growth by retaining loyal customers. You can also augment this by building online momentum with new customers using one of the most dynamic strategies available. Auto-scalability tools have evolved to the point that every business owner needs to take a second look.

Auto-Scalability Explained

Scalability is critical for proper website performance as well as unexpected challenges. It lets businesses achieve unhindered growth while ensuring flexibility, functionality, and a seamless overall experience to users consistently.

Scalability is the potential to adjust a system’s performance, functionalities, and storage to handle fluctuations in demand and usage easily. When there is an on-premise data center, scalability typically translates into adding more hardware, storage disks, and drives. This is time- and labor-intensive as well as expensive.

Manual static scaling is arduous and time-consuming for businesses. This is where auto-scaling forms part of the formula for a successful website and web application management.

Auto-Scaling in a Cloud Infrastructure

Cloud infrastructure has revolutionized the issues posed by on-premise applications. It offers scalability with little to no impact on an organization’s performance metrics. Reports suggest that in 2020, over 83% of global companies’ workloads are stored on cloud infrastructure. The benefits of cloud platforms are numerous, but the top two would be:

• Cost Management: Managing business expenditures on cloud platforms has become a vital part of every business. Cloud infrastructure is based on the on-demand needs of the client. It can provide elasticity in resources and infrastructure. Users are able to pay for what they need when they need it.
• Cloud Scalability: A critical consideration of cloud computing services is the ability to right-size based on actual demand. Cloud service providers offer a baseline of services from which the client can top-up or scale up depending on business requirements.

In contrast to manually adjusting system capacity, auto-scaling is the process of responsive allocation of resources based on usage patterns of web services. Having a fixed server use — daily, weekly, or yearly — has downsides. These include having too few or too many servers for handling traffic load. Too few servers lead to poor user experience and diminished functionality whereas too many servers translate into higher costs.

Autoscaling does away with this problem. It offers an elastic allocation of resources and servers to handle traffic spikes and traffic troughs. In the case of traffic spikes, an application may require additional resources to perform well. In the case of traffic troughs, these additional resources may need to be deallocated for cost optimization. Auto-scaling allows automation of these decisions regarding resource allocation. It allows for a robust and dynamic user experience.

How Auto-Scaling Works

Cloud auto-scaling makes use of the elasticity offered by cloud-based infrastructure. It also reduces the need to monitor manually the performance of a system and make decisions about resources. In this way, auto-scaling enables optimum performance as well as requisite levels of service.

You might be wondering how all of this is operationalized. The short answer is by setting out an auto-scaling strategy or policy. Any effective auto-scaling policy will include the following:

• Monitoring Mechanisms: These monitor metrics such as traffic, memory usage, and server utilization.
• Decision-Making Rules: This involves setting rules based on analyzing the metrics which are captured and making decisions based on the analysis for particular instances. For example, deallocation of servers at night-time when traffic is low.
• Auto-Scaling: The constituent components that scale the system.
• Feedback Mechanisms: Monitor and fine-tune the auto-scaling policy to ensure that it is functioning properly.

Middleware offers built-in auto-scaling mechanisms for common use case scenarios. Businesses can also opt to make custom implementations based on their requirements.

Planning for Growth and Surprises

In 2018, Amazon launched “Prime Day” by offering massive deals and discounts to over 100 million Prime members. However, Amazon’s website could not handle the surge in traffic. A few minutes into the sale, they were faced with a major issue that left users unable to checkout. This incident is said to have cost Amazon over $1 million per minute.

Similarly, with Flipkart’s launch of “Big Billion Day” in 2015, an unprecedented 1.5 million members decided to partake in the sale. This led to a major website crash. This happened despite Flipkart adding hardware and building up its data center capacity to deal with anticipated traffic from the Big Billion Day sale.

These episodes are good take-aways for businesses wanting to ensure robust auto-scalability to deal with massive traffic spikes. They showcase the potential that cloud auto-scalability holds.

The Power of Auto-Scalability

Auto-scaling delivers the following benefits:

• Reducing Costs: Auto-scaling automatically increases and decreases resources by load-balancing the business’ application infrastructure. This ensures resources are available and lowers costs.
• Simple Management: Auto-scaling tools offer businesses a consistent method for managing their resources. It avoids the need to continuously monitor metrics and make decisions.
• Automation: By automating auto-scale policies for your business’ website or web application, it makes it easier to distribute workload among different servers ensuring seamless functionality.
• Monitoring and Feedback Mechanisms: Auto-scaling offers real-time insights into what is happening at the backend while also ensuring that the application runs efficiently by making use of the elasticity offered by cloud-based platforms.
• Enhanced User Experience: By managing traffic efficiently by automated resource allocation, businesses can avoid poor user experiences.

One of the primary challenges of auto-scaling remains in defining upper and lower limits on resources and expenses. For example, if a company sets the lower limit too high, this may result in instances to continue running even when it’s not necessary and results in rising costs. For auto-scaling to work, it’s crucial to have reliable insight into how your application runs and what infrastructure is required.

Guard Against Outages and Reduce Costs

In today’s online world, industry and customer demands are unpredictable and volatile. Guard against losses by unlocking the potential of cloud-based auto-scaling. Doing so can ensure interrupted growth and gains for your business.

The post Auto-Scaling Provides Cloud-Based Growth for Your Online Business appeared first on SmallBizTechnology.

Using radio-frequency ID asset tracking has spawned a revolution in providing oversight to transportation and logistics. RFID technology is the best way to monitor shipping as it provides accuracy levels that are close to 100%. RFID also allows orders to be processed more quickly, almost a third faster than standard order-processing procedures. The use of RFID also results in lower labor costs as many of the logistics functions are automated. Counting and tracking can be made much easier and more transparent.

Asset Tracking Helps Optimize Your Supply Chain

Enhanced supply chain visibility has led to many benefits made possible using the latest RFID systems. For supply chain management, optimization has made an enormous difference in how much can get done and how many resources are needed.

Many companies engaged in transportation and logistics have issues with supply chain operations and asset management. Companies that have a long supply chain need it optimized. However, doing so can cost them a lot of time and money. In large part, this is because it has always been done manually. Manual optimization processes increase the likelihood of human error and higher costs. These issues often become the focus of optimization as companies seek to gain better visibility throughout their supply chain.

When you can see every link in that chain — and know exactly what’s happening in real-time — every part of the process gets easier.

Prompt detection of delays, real-time reporting of anomalies, and the resolution of problems make the entire process faster. This allows you to make timely decisions. The visibility needed for better efficiency is available from end to end. You can reroute quickly, trace immediately, and quickly meet requirements for change. The visibility provides greater efficacy at every point in the supply chain.

Protecting Your Shipments

RFID asset tracking can do more than just letting you know exactly where a shipment is located. It can also let you know right away if there is an accident with your assets or they are mishandled.

Along with shipment tracking, RFID can be implemented to show you when items are thrown, dropped, or have an unintended impact on other shipments. Mistakes can and do happen, even with so much being automated. It’s always best to know in real-time whether they are happening to your assets.

Accidents or other errors can damage your assets and make them unusable. Needless to say, breakage costs you a lot in replacement shipments. However, they could also continue along the supply chain. Without a high degree of transparency, damages might make their way through the rest of the supply chain. RFID asset tracking provides a way to stop this from happening so that your reputation isn’t tarnished along with the damaged goods.

RFID asset tracking can also be used to alert you whenever there is a strong impact. Tags can measure the level of impact your assets are subjected to. This measurement will let you know if an impact occurs that is greater than a specific, agreed-upon threshold. Tags are read remotely, so there is no need for line-of-sight.

These tags are also able to be armed as well as tamperproof. They can provide a comprehensive tale of their journey. You’ll know immediately if a problem crops up. Using this form of tagged asset tracking can help reduce your amount of damaged assets anywhere from 40 to 60%.

Asset Tracking Frees Up More Time for Your Business

Utilizing today’s enhanced RFID asset tracking, businesses can save a significant amount of time. Most of the time that would have been spent remediating problems with the items in transit can instead be used for more important parts of your business. This means that less time is needed for disrupting everyday operations. Less time is wasted making changes, filling out claims, getting assets repaired or replaced, and so forth.

RFID Helps Pinpoint Issues Accurately

Once you can see every step in the journey of your assets, you’ll notice where there are problems. If an item is mistakenly sent elsewhere, dropped, or otherwise has a problem, you’ll know which portion of the journey needs to be tweaked. After that, the entire process is faster and more reliable. Being able to reduce issues that occur along the way requires you to know exactly when these problems are occurring. With RFID tags tied to specific assets, you will.

RFID tracking is a technology that provides a means every company can use to keep track of its assets. If you aren’t using RFID tags, you can be reasonably sure that your competitors are. To stay competitive, you’ll want to take a serious look at this latest business technology.

The post Asset Tracking Using Radio-Frequency ID Can Help Reduce Losses appeared first on SmallBizTechnology.

However, in recent years, it has become more difficult for new drop-shippers to profit from this particular method of eCommerce. Below, we’ll briefly explore whether you should start a drop-shipping business in 2021.

Is the Practice of Drop-Shipping Still Profitable?

Yes. Drop-shipping is still very much alive. Your business can still make a big profit from leveraging drop-shipping. The truth is, almost any business model has both good and bad times. Drop-shipping is no different.

Contrary to what people think, drop-shipping is not a get-quick-rich scheme. It’s an effort that requires a lot of work. The results you get are directly dependent upon the amount of time you put into your business. If you think drop-shipping is easy, you’ll be disappointed when things don’t go as smoothly as expected.

Risks Associated with Drop-Shipping

With any business model, there are always associated risks. Of course, different types of risks need to be considered when adopting any business model. However, there are several risks that you will face when drop-shipping. The three major risks associated with drop-shipping are:

1. Low-Profit Margins 

Drop-shipping is a business model that’s built around the idea of having low-profit margins. This means that if your costs are too high, you won’t have anything left over after paying for your products. Low-profit margins are a good thing when starting out because they mean that it’s easy to make money.

However, low-profit margins can be problematic if you want to build a long-term business. This is because your profits will never be more than what the products cost you. If the markets change and products become more expensive, you won’t have the money to adjust your business model to compete.

2. High Level of Competition

Starting a drop-shipping business requires very little capital. It’s a lot easier to enter the market than starting another type of business. The problem with this is that many people have entered the drop-shipping market and all these would-be drop-shippers also want your customers.

If you can’t build up your brand quickly, then your competition may be more successful at getting their products into the hands of your customers.

3. Lack of Control of the Supply Chain

When you’re drop-shipping, you don’t have control over the supply chain. If anything goes wrong with your shipment or supplier, there’s almost nothing you can do to make things right. For example, if your supplier goes out of business and you don’t have a backup supplier, then you’re going to lose money fast.

You also can’t control your inventory or the time it takes for an order to be processed and delivered. This lack of control will make it hard for you to make changes to your business model if required.

How to Manage Risks and Set Up a Profitable Drop-Shipping Business

Now that we’ve identified some of the risks associated with drop-shipping, let’s talk about avoiding those risks and setting up a profitable drop-shipping business. Listed below are some recommendations you should find helpful.

1. Focus on selling unique products.

If there’s one thing that’s common among successful drop-shippers, it’s that they sell unique products. This means that you shouldn’t be selling popular products from big-name brands. Instead, you should look for niche products that your competitors aren’t selling.

Unique products will make it easier for you to get ahead of the competition. Your customers will appreciate that they can’t go anywhere else to buy your products. You also won’t have to deal with a lot of competition that comes with many other people hoping to sell the same product as you.

2. Understand how your customers buy products.

If you understand how your customers buy products, then it will be much easier for you to create an effective, profitable drop-shipping business model. Make sure that you understand the purchasing needs of your customer before deciding on a business model. This will help you avoid some of the risks that are mentioned above.

3. Choose a reliable company.

Building a successful drop-shipping brand is never easy.  You need to choose a trustworthy company with years of experience. EPROLO, for example, has gained trust from over 300,000 customers. They’ve helped many drop-shippers create and sustain their brands.

4. Find more lucrative markets.

Certain markets are more lucrative than others. If you’re selling niche products, then you should look for a market that provides high demand and limited supply. This will make it easier for you to sell your products at a good price without having to compete too much with other drop-shippers.

5. Don’t become oversaturated.

One final piece of advice is to not get too competitive in your market or oversaturate your market. If you do, you might end up chasing customers away. Additionally, it may be more difficult for you to get ahead of the competition.

If your drop-shipping business model requires a lot of investment in advertising, then make sure that you can handle any drop in sales that comes with oversaturation.

How EPROLO‘s Drop-Shipping Platform Can Help You Succeed

It can be tough to start a business from scratch. It can be even tougher to set up a drop-shipping business. However, with the help of a good drop-shipping platform, you may find that setting up your new eCommerce store is easier than you thought.

EPROLO can help you get ahead of the competition and set up a profitable drop-shipping business in 2021. Their platform comes with a built-in marketplace where merchants buy and sell products as well as an automated order fulfillment service that streamlines the shipping process.

EPROLO’s drop-shipping business model means that you won’t have to deal with product sourcing, order fulfillment, quality control, or packing and shipping. This will take a lot of pressure off your plate and allow you to focus on running your store and increasing sales. EPROLO is forever free for all merchants regardless of whether you are drop-shipping or selling your own products. Check out the EPROLO Branding Project for yourself to see if it provides the perfect solution for your drop-shipping needs.

The post Is Drop-Shipping Still a Profitable Business Model? appeared first on SmallBizTechnology.

True, the very word “process” can sound very tedious. “I’ve been here for so many years. I know how things are done. Why do I need to follow a lengthy process?” Of course, the simplest reason is that not everyone has the knowledge and expertise you have.

If you are somewhat “allergic” to processes, here are a few things to keep in mind. These scenarios can help you appreciate the importance of tweaking processes.

• Everyone is different, with different sets of knowledge and experience.
  • What you can do flawlessly may not be easy for your colleague to complete with just as much ease.
• It took you time to understand the system…new employees don’t share that advantage.
• Some people work well under pressure, others don’t. Some follow a systematic, step-by-step approach, others may take on the problem all at once.
  • Not having a process to standardize workflows can be chaotic, especially when two individuals who have different styles of working have to work together.

Now apply these scenarios to customer service. Hopefully, it becomes obvious how having a good process in place is very important to improve customer service. The mess that can occur in the scenarios mentioned above can be managed internally. However, they spell disaster if they prop up while handling customer queries.

Remember, great customer support is a big factor that will decide your company’s future. Microsoft found that 95% of consumers felt customer support can influence their loyalty to a brand. There are many ideas for improving the customer service process. Listed below are five steps to consider as you seek to improve your business.

Improve Customer Service Through Time-Tested Process Improvements

While the ideas presented below are all tried and true, not all of them may be applicable in your context. Feel free to adapt and tweak these to suit your specific requirements.

1) Bring together your most experienced employees.

So many times we look outward to external agencies to help us with solutions for internal issues. However, we forget that some of the best ideas can come from experienced minds within. If you have made the decision to improve customer service, Start by consulting your experienced employees for ideas.

You might be surprised to see the great ideas that come from your own employees. After all, they’ve been in your system for a long time and have seen the company through many of its phases. Who better to help you with great ideas to improve customer service? Create a task force with your experienced teammates, hold regular discussions with them, and collate the information and ideas that come from these meetings. Let this serve as your basic body of ideas.

2) Conduct research.

This one’s a no-brainer. How can you improve customer service if you don’t know about it in any depth? True, it can be confusing to know where to begin. Here are two things you can try to get started on your research:

• Find out what others are doing. Start with your competitors. There’s so much information to gain from studying the other players in your industry. You need to find out what they are doing right and where they are lacking.
  • This is not to say that you should copy their practices, but you are likely to understand the mechanisms of customer service better.
• Study the big names. Seek to understand what some of the most popular brands are doing right. They may not be relevant to your industry but, hey, they are at that position for a reason and great customer service is almost certainly a significant contributing factor. Understanding the customer service processes they employ can be of great value to your research.

3) Define your objectives and measures.

Research can only tell you what someone else is doing. The needs of your business are unique to you. Take the time to define the objectives and goals for which you are trying to improve customer service. To support these objectives, you will need to spell out a couple of KPIs that your customer support team will have to work toward. Some essential KPIs you can start off with might include:

• turnaround time for problem-solving;
• customer feedback;
• common areas of complaint;
• frequency of complaints; and
• the number of escalations.

These are just a few measures that are used by many companies. Your company may have a unique set of KPIs relevant to you. Sit with your experienced employees and brainstorm the right KPI set for you.

4) Make effective use of technology.

Customer queries can be of two types. The first one requires the attention of a live customer support representative. The second kind is those that can be solved without the involvement of a customer support representative. Which do you think is the most common type of complaint?

That’s right, the most common complaint mechanism are those that don’t need the involvement of a customer support rep.  In fact, a study by Accenture showed that about 80% of customer engagements can be dealt with by artificial intelligence (AI) bots.

Which of the two mechanisms do you think customer support staff spends the most time on? Again, the second type. Wouldn’t it be amazing if customer support involvement could be redirected completely towards solving the first kind of customer queries?

Nowadays, that possibility is within reach. You might already have come across customer support services where you are in fact chatting with a bot and your entire query was resolved without an actual person on the other side. This is now possible through the use of AI. AI can reduce your customer service costs by approximately 30%. Customer support software such as Acquire is powerfully driven by AI and can take customer service to a whole new level. Additionally, many CRM packages feature video chat, live co-browsing, and more. All of these have significantly improved the customer experience of their clients.

Another example would be Paykickstart’s Knowledge Base. This product lets client companies create exhaustive resources that customers can access for solving their problems without even needing to contact customer support. If you aren’t leveraging technology to improve customer service, you really are positioning yourself to lose the race.

5) Implement, measure, repeat.

Let’s say you don’t have the time or ability to follow any of the above options. Your last resort is to go ahead with ideas that you think are suitable.

Of course, you should at least discuss these ideas with a couple of other experts even if you can’t launch full-blown research before you implement them. But here’s the important part: measure your outcomes. Don’t ever make the mistake of thinking your ideas are fail-proof and leave outcomes unmeasured. You need to be certain that your ideas are actually helping you improve customer service. If they aren’t, you’ll have to rethink your strategies. If they are, tweak them to find the optimal way to implement them.

For example, if you notice that being informal with your customers is working great for you, don’t just stop at that. Try a little more. Maybe you could address your customers by their first names, wish them a great weekend, or maybe even add an emoji or two to email correspondence. Even the best methods can be improved upon.

Final Thoughts to Improve Customer Service

There is no one, never-fails roadmap to improve customer service. It’s all about giving it your best and trying again and again until you reach a great outcome.

Hopefully, the five processes listed above will help you on that journey.

The post 5 Steps to Improve Customer Service By Tweaking Processes appeared first on SmallBizTechnology.

Fortunately, technology allows you to secure a car insurance estimate without personal information within a matter of minutes. From there, you can decide what’s best for your company’s budget. Here are the five steps you can take to buy affordable small business car insurance online:

Know Your Current Coverage

When you know your current coverage, it’s easier to make a decision as to what you should buy the next time around. Maybe you need better coverage, or maybe you can cut back. Either way, this information will come in handy.

The easiest way to do this is to request a copy of your policy from your insurer (if you don’t have one at your disposal).

Review Your Budget

When it comes to money management as a small business owner, it’s critical that you have a firm grasp of your budget at all times. Once you review your budget, as well as how much you currently pay for coverage, you can decide what to do next.

Along with this, learn more about the average cost of car insurance. Doing so will help you see if you’ve been getting a good deal or if you’ve been overpaying for coverage. If you don’t review your budget upfront, you could end up with a policy that you can’t afford. And that’s a mistake you don’t want to make. 

Request Three to Five Quotes

This is one of the most important steps you’ll take when shopping for car insurance online. Without three to five quotes, there’s no way of knowing if what you’re buying is a good deal.As you compare quotes, pay close attention to the coverage and price. Also, look at things such as available discounts, customer service, and the use of technology.

With three to five quotes at your disposal, you’ll feel more confident when you finally decide to make a purchase. 

Compare Quotes and Coverage

This goes along with requesting three to five quotes. It’s easy to assume that all car insurance companies are the same, but nothing could be further from the truth. As you compare quotes and coverage, do so with a clear idea of what your current policy looks like (see above). 

Tip: don’t focus so much attention on the cost of coverage that you overlook other details that are every bit as important. Saving money is a big deal, but now the only thing that should come into play. 

Ask Questions and Finalize Your Policy

This is the last step in the process. It’s when you tie up any loose ends and make your first payment to finalize your policy. If you have questions, don’t hesitate to direct them to the company of interest. You can generally do so online or via phone. Common questions include but are not limited to:

• What sets your car insurance company apart from others in the industry?
• How long have you been in business? How long have you been working with small business owners to provide comprehensive car insurance coverage?
• Do I qualify for any discounts? 
• How often do I pay my premiums? Do you offer a discount for paying for three or six months at a time?
• What is the process for filing a claim should the time come?

When you ask these types of questions, you’ll find it easier to finalize your policy with a clear mind. This is a big decision that can affect your small business on many fronts, so you don’t want to make a mistake. Don’t do anything until all your questions are answered. 

The Challenges of Small Business Car Insurance

Even though the process of buying small business car insurance online is simple to understand, there are sure to be some challenges along the way. On the plus side, there’s nothing so challenging that you won’t be unable to overcome it. You may simply need to adjust your approach.

Here are some challenges that could get in the way:

• Too many choices: Yes, this is a good problem to have, but it is a problem nonetheless. The more choices you have, the more difficult it is to decide which company and policy are best for you. 
• Price: You have a budget in mind, but there is no guarantee that you’ll find a policy that fits. If this happens, you may need to take a step back to reassess your situation. 
• Not enough information: Buying insurance online is easier than ever before, but you may still feel like you don’t have the info necessary to make a confident decision. In this case, you will find yourself reaching out directly to insurance companies. This can take a good amount of time out of your day. 
• Complicated system: This is not something you expect, but it could get in your way as you get started. Some online insurance brokers have simple-to-use systems, while others are clunky and full of bugs. It goes without saying that you don’t want to waste time with a system that doesn’t work for you. There are enough options out there that you should be able to find one. 

The more challenges you face, the more you’ll feel like giving in and going down another path. However, once you have come this far, there is no point in going back. You’re closer than ever to buying the right policy at the right price from the right company. 

Final Thoughts

When you do these five things, it won’t be long before you have comprehensive coverage for all your company vehicles. And when that happens, you’ll have the peace of mind you’ve been searching for! 

The post How to Buy Affordable Small Business Car Insurance Online appeared first on SmallBizTechnology.

Strict government compliance rules as they relate to the pandemic have begun to loosen. More and more individuals are being vaccinated. The President signed an executive order that individuals need not wear masks once fully vaccinated. Simultaneously, various state governors have decided to fully reopen and normalize life as we knew it pre-Covid.

The economy will be reopened. Along with this reopening, many small businesses will have some new rules to comply with.

Employment law changes constantly, and your HR people work hard to make sure that they stay abreast with these changes. Employment law compliance is paramount for running any successful small business.

Business and labor laws work hand in hand to ensure fairness and equity. Due to the pandemic, it’s been much more difficult to maintain compliance with certain labor laws. Regardless, small business employers must find a way to institute such compliances. In this article, we’ll touch briefly on the following five topics.

• Difficulties Business Owners Face to Remain Compliant in 2021
• Ways in Which Compliance Efforts by Business Owners Can Improve in 2021
• Coronavirus-Related Leave Laws
• Labor Law Alterations in 2021
• A Few Ways in Which A Business May Remain Compliant

Difficulties Business Owners Face to Remain Compliant in 2021

It’s evident that, due to the pandemic, businesses overall have found it quite difficult to comply with what’s known as the workplace poster requirement. This requirement requires a business owner to display posters or notices in the workplace.

This requirement is enforced by the Wage and Hour Division (WHD). What makes the requirement so difficult to comply with is the fact that most employees currently work from home. The main use of these posters is, obviously, for employees to have access.

It is worth reiterating that employment law compliance is of paramount importance.

However, it should also be noted that the Department of Labor stipulated that not all employers are required to post a specific notice as not all employers are covered by the statutes and regulations administered by the WHD.

To find out whether your small business requires a specific posting requirement, contact your State Department of Labor. Make sure you also keep up with new laws as regards the Family First Coronavirus Response Act and OHSA guidelines.

Ways in Which Compliance Efforts by Business Owners Can Improve in 2021

In an effort to achieve effective employment law compliance by employers, a few steps can be taken. These steps are as follows:

1. Human Resources should keep abreast of the changing laws in terms of compliance. New employment laws are issued frequently in response to changes in the employment world. Your HR people should subscribe to various federal employment sites such as the Department of Labor for legislative updates.
2. Efficacious remote communications must be implemented as a means of updating employees on various workplace changes. The best way to create effective remote communications might be through video calls, emails, or telephone calls. In any case, you should not prohibit the use of the phone, even if you can do it. Any means for effective remote communication must be enabled.
3. Ensure that you keep records of message receipts from employees. This may be done whenever you issue a new notice. You should then obtain a signature from each employee to show proof that they received said notice.
4. Invest in HR information systems. These systems ease the burden on HR management and are used to organize and simplify daily activities.

Coronavirus-Related Leave Laws

The U.S. has enacted new employment laws in its effort to combat the coronavirus. These laws are also used to aid employees seeking leave from their employers when symptoms arise. Just to name a few, employers must be familiar with:

• The Family First Coronavirus Response Act
• The Family and Medical Leave Act
• The Fair Labor Standards Act
• The Occupational Safety and Health Act

It’s also worth noting that the relevant sections of these acts must be posted for your employees to review.

Labor Law Alterations in 2021

As stipulated above, labor laws change constantly. Small business owners across the U.S should remain cognizant of all such changes. A few changes came about in 2021 which may or may not affect your small business. These changes include:

• an increase in minimum wages of federal contract employees to $10.95/hour;
• in order to combat identity theft, employers may display only the last four digits of an individual’s social security number; and
• 2019 and 2020 EEO-1 surveys must be submitted by private sector business owners who have more than 50 workers and at least 1 federal subcontractor contract worth a minimum of $50,000.00.
  • This also applies to private sector business owners who have 100 or more workers.

 A Few Ways in Which a Business May Remain Compliant

Here are a few simple tips to help your small business remain compliant during the pandemic and its aftermath:

1. To comply with the workplace-specific notice posters, share them virtually with your employees.
2. Keep proper records of receipts from issuing specific notices to employees.
3. Update the employee handbook regularly.
4. Stay current with regulations regarding workers’ compensation for remote employees.

Parting Thoughts

Small business owners should remain cognizant of various labor law changes, the rights of business owners, and how to remain compliant.

Failure to remain compliant may result in penalties and fines.

Compliance can be difficult in certain instances. However, a good law firm can definitely help.

Business owners should also make sure they update their systems to ensure that their HR team may easily receive legislative updates. Doing so will inevitably keep a business up-to-date with labor compliance laws to ensure that your business can operate without hindrances.

The post What SMBs Need to Know About Employment Law and Compliance appeared first on SmallBizTechnology.

This is due to a variety of reasons. Technology is changing everything in our lives and making them more efficient, but shipping packages is one of the ways that our society is becoming effective beyond what we used to think. With automation and fast transportation, shipping is changing. Here are five reasons you are getting packages more quickly and in one piece than ever before.

Drones

One mind-bending and game-changing way that shipping is getting better is the addition of drones. Drones are flying objects controlled remotely. Recently Amazon started using them to deliver packages, opening up all kinds of doors for new shipping ideas. A drone can fly the package directly to your house and leave it on your doorstep or, in some cases, in your backyard. 

This is, of course, with your consent to drop the package in your backyard, but it is an amazing possibility. Drones are just now being used for this purpose, but one thing is clear. They will be used in the future to deliver everything from pieces of technology to grocery items.  Whatever you are getting delivered, there is a chance that it will be delivered by a drone.

Smart Lockers

Another way that shipping has changed greatly is through smart lockers for apartments. This new locker technology provides a way for residents of apartment complexes to receive their packages in individual lockers. Not only will you not have to worry about packages being dropped off at your house, but you will also be notified when a package gets delivered because your phone will be alerted. You can also use out-of-home delivery services like Stowfly which are similar to package lockers. Stowfly is a network of shops and stores. You can call them your secondary address where your packages are safely received and taken care of till you pick them back. 

With individual lockers for each resident, you won’t have to wonder if your package was stolen from your front door. You will know exactly when the package is delivered and who delivered it, offering peace of mind and efficiency to ordering packages. More and more people are ordering things online, smart lockers are the future of shipping to communal environments like apartment and business complexes. Smart lockers are the future of deliveries.

Internet of Things Tech

Internet of Things (IoT) technology that is enabled with GPS can provide professional shipping data in real-time, making these logistical personnel better able to determine the time it will take to ship, the conditions each shipping vessel is in, and routes of the supply chain. With IoT technology, these professionals can automate warehouse and storage processes and better eliminate shipping damages.

This technology can even monitor temperature, vibrations, and how fast the shipping process will be. When it comes to shipping, more accurate knowledge and ease to organize the items these companies are sending out will only improve the whole process. Of course it’s all connected. As technology improves, shipping around the world will become more accurate and more efficient.

Maritime Advances

While we live in a world where planes are much more prevalent than ships, boats take up a significant portion of the industry. It should be no surprise, then, that maritime advances are impacting the shipping industry. The world experienced just how important ships were when the Suez Canal had a boat stuck, prohibiting others from entering and leaving. Packages around the world were delayed for days or even weeks.

When it comes to shipbuilding, propulsion, and the data on everything from the vessel to the route, maritime advances greatly improve the speed and accuracy of shipping. With smart shipping, meaning that the boats are equipped with internet technology like our phones, the communication and ability to analyze information has skyrocketed. 

Nearly 10 percent of new boats being built are equipped with this technology. Coupled with advanced materials, IT infrastructure, robotics, and other technology like sensors, maritime advances will increase the efficiency and speed of shipping around the world. It is yet another advancement that is changing the industry for the better.

Accessible Air Travel

Another way that the shipping industry is changing concerns air travel. Nowadays more and more packages are being shipped in the air, making it possible to arrive much more quickly than if they are being sent on a boat. Air travel is becoming cheaper and cheaper, allowing companies to send their packages through the air and arrive even on the same day.

The cost of air travel, while harmful to the environment, doesn’t seem to be going up. If anything the prices are going down. Technology will improve, making air shipping the more viable option. While maritime advances facilitate the industry of shipping, accessible and affordable flights for cargo and commercial shipping will continue to be a game-changer in the logistics and cost of shipping.

The future is here and everything is changing rapidly. While it remains to be seen how the world will adapt post-pandemic, technology has only been furthered by the COVID-19 virus. More than ever people are buying things online. Whether it’s an expensive watch or a grocery item, things are being shipped around the world in record numbers. 

Where there is a demand, companies will strive to meet it. The demand for online shopping, international shipping, and the logistics of it all does not seem to be going anywhere. Shipping logistics, data, and speed have improved, but this is likely just the beginning. With all of these technologies converging, the shipping industry will continue to evolve and adapt to this ever-changing world and the Internet of Things. 

With companies like Amazon promising insane shipping times like same-day delivery, the rest will be forced to compete. It’s lucrative for Amazon, but other companies will struggle to meet this demand. Still, there is no going backward, and shipping is as fast and efficient as it’s ever been. Only time will tell how advanced it will become.

The post 5 Reasons Shipping to Consumers is Changing appeared first on SmallBizTechnology.

This is especially true when it comes to schedules and costs. Operations management is all about efficiency. The best operations managers know how to plan, organize, and supervise production to ensure the fastest and best products and services.

Whether you are an operations manager or hope to hire one, listed below are eight common operations management mistakes you don’t want your company to suffer.

1. Neglecting to Document Existing Processes

Operations managers (OMs) are tasked with improving business processes. This entails observing and understanding the processes as they are. Once new processes are put in place, OMs need to compare the new system against the old one to verify that they have made improvements. Without that initial documentation, there is no telling whether an OM is doing a good job or not. This mistake could waste company resources for months or even years.

2. Failing to Record Objectives

It’s important that companies and OMs state business goals clearly. They need to document objectives from the earliest stages of a project to ensure that everyone understands the intended outcome. If necessary, key terms should be defined to prevent misunderstandings or miscommunications. This will keep an OM on task and reduce the likelihood of costly deviations from the plan.

3. Lacking Key Performance Metrics

Speaking of setting goals, no goal is sufficient if it doesn’t include at least one metric. Performance metrics allow OMs to verify that their efforts have a positive effect. All metrics should be quantitative and relevant. The best metrics are easy to obtain.

Some examples of typical OM metrics include:

• the time an operation takes to complete a task;
• the time needed for one product to complete its processes start to finish;
• the quantity of inventory in the process;
• the consistency of an operation; and
• the conformity of a product to stated standards.

4. Choosing Not to Standardize Processes

Standardizing processes is one of the more important steps toward improving efficiency. This is especially true when a business has multiple production centers for the same products. Standardization helps to ensure a universal quality in products and services. The best spend plenty of time covering standardization because it is so important in an OM’s toolkit.

5. Over-Complicating Processes

Any operation is much more prone to mistakes when the processes involved are complex. An OM needs to take advantage of opportunities to simplify. They also need to resist the temptation to overthink when it comes to designing new processes.

A few good indications that a process is overly complicated would be the statement “We’ve always done it that way” or an inability to describe a process in detail. OMs who fail to identify and rectify overcomplicated processes — or worse, OMs who develop brand-new processes that are too complex — will waste company time and money.

6. Overlooking the Bottleneck

A bottleneck is a resource with the smallest capacity. This typically results in limited production. There may be no eliminating the bottleneck entirely, but being able to identify it is key. Spotting bottlenecks helps businesses keep them from negatively affecting production and quality.

Unfortunately, some OMs don’t bother looking for the bottleneck. Sometimes they can misidentify it, leaving the true bottleneck to wreak havoc on production. 

7. Automating Wantonly

Oftentimes, automation reduces expenses, cuts downtime, and provides other noteworthy positives. Other times, automation cements bad processes, resulting in all sorts of wasted resources.

It’s tempting to use all digital tools available, especially those that seem to eliminate inefficiencies and cut costs as most automation services claim to do. Before using an enterprise management system to automate processes, OMs need to be careful to weed out any bad processes that could cause inefficiencies. It might be useful to enroll in operations management courses. These courses focus on digital strategy, which will guide OMs in selecting beneficial software and automation tools.

8. Forgetting About the Customer

Finally, the customer is the most important element of any business plan or process. The customer gets to decide the appropriate quality for products or services, not the OM.

OMs who ignore customer behavior are simply not doing their job correctly. OMs need to focus their performance metrics on customer preferences. After that, they need to align processes with product development and marketing. This helps to ensure customers are getting exactly what they want.

Remain Alert to Operations Management Mistakes

Mistakes are inefficient, which is why operations managers should do everything they can to avoid them. By recognizing the most devastating mistakes in operations management, OMs and businesses alike can avoid catastrophe and find success.

The post 8 Operations Management Mistakes That Will Tank Your Business appeared first on SmallBizTechnology.

Learn the Local Language

Everything is easier if you know the language. No matter where you are looking to put your international business, learning the local language is to your benefit. There are countless ways to learn. Whether you leverage an online program, a private tutor, or you fly to the country for an immersion program, don’t skip this important step. While you may not achieve fluency right away, your ability to communicate in a foreign country for your business is critical.

Learn Local Customs

In addition to the local language, learn about the local customs. This includes business customs. Do local businesses shut down for a while in the middle of the day? How are contracts processed? What can you expect in terms of service? There are many interesting questions that arise when you start working with a different culture.

Get Legal Services

You’ll need someone well versed in international laws to help you with your business. You’ll need legal help both in the country you are from and the country you’ll have your business in. This should help you stay out of any tricky legal situations that could get you into trouble. From trademarks to employment to taxes, a good international business lawyer should be an essential part of your team. A good lawyer can help you determine what you need to do about your intellectual property and to protect you from theft.

Use Legitimate Import – Export Services

If you’re doing a product-based business internationally, this will be critical for getting products to and from their destinations. Import – Export services will help manage all of the end-to-end logistics for shipping, receiving, customs, taxes and so much more. Legitimate companies offer services that can help with every aspect of the process. It’s important to find reputable companies who aren’t taking bribes or hauling things using your containers.

Employer of Record

When you are looking to expand overseas, you’ll need to hire employees. This process can be long and arduous because you’ll need to automatically set up a business entity in the new country you want to do business in. This takes a lot of time and becomes very expensive, especially for smaller businesses trying to get started in a new place. An employer of record already has a business entity around the world. They’ve already set-up shop with HR and can recruit and hire workers that help your business. They are a perfect solution for the new international business that’s not quite ready to put both feet on the ground in a new international destination.

Adequate Web Security

Website security and e-commerce security for an international business is much different. There are international laws that determine what type of security is needed for your site to comply with their regulations. This includes anything from the programs used to capture email addresses to the software used for payment processing. Web security needs to be a top priority for an international business to ensure they comply with all of the necessary regulations.

Secure Databases

In addition to web security, you need proper security on your databases. This will protect all of your business data from potential threats around the world. Secure databases mean that not only is your business data secure, but your client data is also. A good security plan will account for all the different ways a threat can come in, whether it’s through a website, an email, or some other break in the chain. When you run an international business this is so much more important because leaked data can be cause for a criminal complaint against you or your company.

A Good Business Plan

All businesses need a good business plan, but especially an international one. You need to be clear about what you’re selling and how you’re going to do it. You’ll also want a plan for where you want the business to expand to and whether you’ll create new entities in the new locations, or simply use an employer of record to get local workers. A business plan will include the products you plan to sell, where you plan to get them, your planned profits based off of researched expenses, and so much more.

A Robust Marketing Plan

Part of your business plan is your marketing plan. Once you know what you want to do, you can decide how to do it. How will you market your products and services to your target audience? Will you use social media marketing? Will you use SEO? What claims can you make? All of these should be part of your marketing plan. With an international business it’s especially important to build business relationships with people from all over the world. These connections are vital to grow and reach the right people. The marketing plan is what you’ll use to build, grow, reach new customers, and market to them.

With all the right tools in place, it’s possible to start or expand your international business. From learning the local language, to getting legal help here and abroad, you’ll need to take your time planning this one. While not as easy as opening a local shop, an international business is a rewarding and lucrative avenue that can grow into something even greater. Take your products, services, and skills overseas to create a thriving business empire that employs people near and far. 

The post How to Start an International Business appeared first on SmallBizTechnology.

It does seem like going digital is the new call for this decade, right? We’ve already seen rapid changes in the global market, across all verticals, with more and more sales being chalked up online.

At the local level, having an individual online persona for your small business is all well and good. That trend has been popular for quite a few years now. However, moving your business activities to online platforms is still a relatively new concept.

Many larger companies have already made their move toward digitization, though many more have yet to take the plunge. Smaller businesses, in particular, remain ambivalent. This is likely linked to the high rate of failure that accompanies attempts to make this change. A recent report by McKinsey states that approximately 70% of large-scale transformations do not successfully meet the expectations they set. Clearly, a better road map is vital for those reluctant to dive in.

Listed below are some high-level categories to keep an eye on as your small business prepares itself for the increasingly digital 21st-century marketplace.

Why Successful Digital Transformation Will Prove Critical

Before we jump into the “how-to” part, let’s briefly take a look at the “why” of digital transformation.

Digital transformation encompasses several comprehensive measures that migrate your business needs, functions, and operations to the appropriate digital platforms. The overarching goal is to simplify and optimize your processes. Simply stated, the motivation to digitize is to stay lean and competitive. In the new economy, “busy work” won’t cut it. There will be plenty of work for everyone as sales increase, though job responsibilities will obviously have to evolve.

Keeping this working definition of digital transformation in mind, the points below drive home its importance.

Improving Customer Experience and Convenience

Today, most of your competitors are already moving their shops online. This will give both your existing and potential customers a whole new and wider range of options to choose from.

Be warned. If you stick to your “bricks-and-mortar-only” model, you will quickly end up losing sales to your competitors. The lockdowns of 2020 made this point abundantly clear.

Providing a comfortable experience to customers who now prefer shopping online will be a major move toward gaining and keeping their confidence and loyalty.

Maintaining a Sharper Competitive Edge

In one scenario, all of your competitors have gone digital and you haven’t. In another, none of them have done so and you have yet to make the move. In the latter case, you could be the first to take this step. By doing so, you establish an authority in the market and gain a first-mover advantage.

This enhanced reputation can also help you attract customers who previously were beyond your reach. Now, they are just a few clicks away.

Embracing Decision-Making Through Data-Driven Insights

Digitization also benefits your business by providing access to a detailed list of insights about your audience’s shopping patterns, demographics, etc.

You can use this data to create more relevant marketing and promotional campaigns that truly resonate with your audience.

4 Steps to Successful Digital Transformation

The significance of investing in digital transformation is clear. Listed below are the steps you can take to ensure a successful digital transformation for your business.

1. Identify and set realistic goals.

The first step to successful digitization is setting goals for your small business. These goals must be realistic and backed by thorough, research-based data.

For example, one goal might be to move all your HR-related activities to a single digital platform that your team is comfortable with.

Your goals must also be measurable. Whatever you can’t measure is what you can’t successfully achieve.

2. Successful digital transformation will require an increased focus on strategy.

Once you figure out your goals, creating a strategy — a clear plan of action — is of utmost importance.

You can either take the entire process of digitization on your shoulders or invest in a Digital Adoption Platform (DAP). A DAP streamlines the adoption of your digital tools and ensures every employee makes the most of their new toolkit.

You may have heard of Appcues as a tool that facilitates product adoption, but today there are great alternatives to Appcues that go beyond baseline functions. These alternatives neatly assist with user onboarding, training, and supporting employees on enterprise applications. They also offer a host of other features that facilitate digital transformation.

3. Ensure the security of all data.

Today, most consumers believe that their data is unsafe on the multiple online platforms they use on a near-daily basis.

Assuring the safety of the information they choose to share with your business is a vital step toward gaining their trust. It also helps to create a positive brand image.

As you upgrade your systems from analog to fully digital, be sure to monitor and seal all the nooks and crannies that might result in a data leak.

4. Regularly analyze usage data.

Make a habit of utilizing the data and usage insights you’ve collected over time to make informed decisions as to your next steps.

Data analysis gives you a better understanding of how well your employees and customers are leveraging the digital platforms you brought in.

You can determine which digital investments are driving desirable returns and which ones may need to be replaced or dumped.

With a data-informed overview, you can determine a clear path to take that will help grow your business, both online and off.

Key Takeaways

An insightful 2018 survey by The Economist found that there was a 48% increase in efficiency following effective digitization. A 47% reduction in operational costs was another key metric cited.

These statistics demonstrate the power of successful digital transformation. In essence, all you need is a clear roadmap for successful digitization. That roadmap may evolve as you move forward, but we’re clearly at a tipping point that may force our hand.

Do your research. Partner with proven experts as needed. The one thing you don’t want to do is wait around as more and more customers move to online puchases.

The post Steps to Achieving Successful Digital Transformation for Your Business appeared first on SmallBizTechnology.

Outsourcing specific business needs has become increasingly popular among small business owners. Many are even choosing to optimize how they take care of their HR requirements. This in turn has seen a corresponding rise in the demand for professional employer organizations (PEOs). However, as you might expect, these organizations often come bundled with a thick amount of details and paperwork. That might just be the very thing you are trying to run away from!

Thankfully, a PEO broker can help you decide how to best outsource several aspects of your small business. This saves you time and ensures that your business keeps running smoothly. The outsourcing trend can include health services, payroll, retirement accounts, tax administration services, and long-term savings accounts.

sSix Advantages of Working with a Professional Employer Organizations Broker

Choosing a suitable PEO should be weighed very carefully. To help you decide, hiring a PEO broker is a great option. A professional employer organizations broker can help find you the best deal on the market. If you’re thinking about hiring a PEO broker, here are six good reasons to move forward.

1. A PEO broker helps create a buyer’s market.

Partnering with PEO brokers allows you to create a buyer’s market. Brokers achieve this by creating a mini-market where they can get the attention of PEOs. They’re also in a position to hire locally, regionally, or nationally. Leveraging these expanded options, you’re now in a position to choose a PEO that promises to deliver quality results. The PEO broker also improves your bargaining power. You don’t have to spend nearly as much money paying the PEO as you’d have to if you hadn’t hired a broker.

2. It’s much easier to compare PEOs.

Whenever you’re out shopping, you spend most of your time closely examining prices. You want to be sure you’re getting the best value possible.

The same principle applies when scouring the market for a potential PEO. When conducting your search, the primary factor that’ll be guiding your decision-making process is pricing.

You’ll need to set aside a considerable chunk of your time reading over quotes issued by different companies. The entire process involves dealing with endless paperwork and uses up a lot of your energy. It’s no surprise since PEO proposals are usually not only long but also fairly complex. Because of this, you’ll need to take your time. You need to carefully read through all details to avoid making a costly mistake.

All this sounds hectic and difficult because it is. Hiring a PEO broker helps you outsource these issues. Your PEO broker will give you numerous quotes for review. This makes it a lot easier to pick a PEO suitable for your needs while still offering you great value.

3. Your business gets competitive pricing.

While hiring a PEO broker will cost you money, you end up saving more. A PEO broker eventually helps you save by cutting down how much you’d have to pay the PEO. The PEO consultant can do this as they have the experience and knowledge to negotiate for better rates. Also, they can use connections established over the years to help you get a cheaper deal.

The opportunity to save money should be a sufficient motivation to hire a broker, assuming you still had some skepticism about this practice. After all, your goal as a small business owner revolves around saving money by trying to cut down business costs as much as possible.

4. Your paperwork load is greatly simplified.

Piling up the paperwork can make you feel like giving up prior to searching for an ideal PEO. To get an exact quote from the PEO, you’re required to collect a vast amount of company data. This includes healthcare requirements, worker’s compensation history, insurance policies, and staff salaries, to mention a few. Because you’ll be seeking to get quotes from various PEOs, you’ll need to repeat this entire process every time you’re searching for different needs.

To save yourself from dealing with this hectic process, multiple times, a PEO broker might be the right call for your small business. Working with a PEO broker, you’ll only be required to provide the appropriate data once. The broker will then assess your company data and recommend the right PEO depending on your needs. This helps you make an informed decision without having to deal with lots of paperwork.

5. You get greater peace of mind.

Running a small business is stressful. You need to make sure everything’s running according to plan. The search for a PEO only adds to this level of pressure. You’re expected to make sure the business remains on track to achieve its goals.

When evaluating different PEOs, you’ll want to compare how much they charge for their services and interview each of them. All of this added work quickly becomes overwhelming. It might even impact productivity or prevent you from making the right decision as to which PEO to hire.

PEO brokers reduce the work on your end. Your consultant will deal with all of the heavy lifting involved in the search for the right PEO. Since the broker has years of experience establishing a relationship with many PEOs locally, regionally, and nationally, they’ll know which matches your needs. As a result, you get to focus on more important matters, the ones your small business was established to handle. You’re making a good choice but not adversely affecting overall productivity.

6. A professional employer organizations broker looks out for your best interests.

If you’re out shopping for a product you don’t know much about, it’s all too easy to be misled by sales representatives.

To get the best advice, it’s far better to talk to a neutral party when seeking reliable information. PEO brokers are neutral parties. Their main goal is to help you get a PEO who’s the perfect match. Their integrity can be trusted as they don’t have anything to gain financially if you choose to pick one PEO over another.

However, if you consult a PEO directly, they will do their best to convince you that they’re the best pick. That might not always be the case, so hiring a broker would be a safer route.

Takeaway

Hiring a professional employer organization allows you to focus on matters more important to your business. Any good PEO can help maintain smooth operations as you no longer need to worry about compliance issues and complex HR paperwork. However, knowing which PEO to hire can a challenge. There are many options available. To help you out, hiring a PEO broker might be your best bet for wading through all the choices.

The post 6 Benefits to Hiring a Professional Employer Organizations Broker appeared first on SmallBizTechnology.

Are you wondering where to start and how to get a fledgeling idea off the ground? How can you become a successful home builder in the future? Keep reading to learn more about how you can get started.

#1: Make Sure You’re Qualified

This might seem like a no-brainer, but it’s worth mentioning that as with any job, there are qualifications you need to obtain. Just as you can’t become a dental practitioner without going to dental school, you can’t start a home building business without being qualified. Your qualifications can vary from state to state, but as a general rule you will either need a degree or you’ll need to learn on the job. Be aware that learning on the job could take a lot longer than getting a degree. After that, there are a variety of certifications that are helpful and even required in some cases. Making sure that you have the right credentials and experience to start the business can help the whole process go more smoothly. You might be able to start flipping houses without experience as a home builder, but you’ll need a lot more than business savvy if you want to build homes from the ground up. Finally, continuing education to stay current with new processes, machinery, and safety measures will be important once the business is started.

#2: Get Financial Backing

Starting a business of any kind costs money, and this is especially true when it comes to a business that is centered around the construction of new homes. You will need funding to hire employees and contractors, as well as to secure the equipment needed to build. Gaining this funding can happen through investors or crowdfunding efforts. You can also secure this much-needed capital through installment loans, either from a trusted third-party lender or through your local bank. In order to get loan approval, you will likely need to share an in-depth business plan and explain what the loan will be used to accomplish.

#3: Get Insured

Insurance is the security blanket that home builders depend on. There is an abundance of moving parts when it comes to building a home. The risk of injury is very high and being properly insured can save your business thousands of dollars. You can have peace of mind that when you leave the building site at night, you are not held liable for anyone that gets hurt in your absence. Consulting with the builders insurance group first is the best decision you can make. They are built specifically for home builders after the industry faced years of struggling to find good coverage. Talking through the best options for your business and what you plan to achieve will help you get the best coverage moving forward.

#4: Decide on a Niche 

Trying to do everything is historically not a good approach for home building companies. There is more success when you pick a specific type or style of home and become the best at building that product. Becoming an expert in a specific area will help draw business in a few ways. First, people will refer others to you simply because they know it is your specialty. For example, if single level farmhouses are what your business specializes in, people will consult you or refer you when they hear that someone is looking to build a single level farmhouse. Rarely will someone that builds model homes for developments be hired to do one standalone farmhouse because it isn’t their specialty. 

#5: Build A Team

When building out your team, you will have to decide if you want employees or contract workers. This is important because it will have an effect on the rest of your business. Some builders will have some full-time staff and hire contract workers for certain projects. Finding the right mix for your business can take time. You can hire contractors to see how they work on a project and then offer them a full-time position if they do well. 

#6: Start Marketing to Target Customer Base

After you get your business up and running, you need homes to build. Advertising to your target customer base is the next step. Being strategic in this area and making the most of your marketing dollars is key. Don’t spend money advertising to people who just moved into a new home or elderly that are looking to downsize. Find where your target customer is and find unique ways to get your messaging out. 

#7: Focus On Quality Over Quantity

While it may look good on paper to complete a high number of projects per year, it won’t matter if they are bad quality. Your reputation as a home builder will be extremely important to future projects and referrals. Putting an emphasis on the quality of your work and making sure that your team and everyone you partner with shares that vision can set your work apart from others. Taking extra time to properly install something will satisfy the customer more than rushing and doing a poor job will. 

#8: Get Tax Guidance

Personal taxes can be confusing but business taxes are an entirely new puzzle to navigate. Working with an experienced accountant from day one can help you avoid being in tax trouble as a business. It is important to know the rules and ask questions prior to starting so that you know how to approach different areas of your business from a tax perspective. Having someone on staff that monitors the finances of your business can be the difference in being in the green or red at the end of the year. 

#9: Network, Network, Network

As with any type of construction, networking will be very important to the long-term success of your business. People can’t refer business to you if they don’t know who you are or what you offer. Whether you attend networking events or engage via social media, emailing, or other approaches, it is important to connect with others. You never know who will be a future customer, so taking every conversation seriously is key. You and your employees constantly remembering that you are representing your company’s reputation at all times can help prevent you from getting into bad situations. 

#10: Find Ways to Stand Out From Your Competition

In order to be successful, you can’t lose all of your potential to customers to your competition. Being new to the industry, your business will need to find ways to stand out in a crowded field. This can be from your marketing approach or your customer service responsiveness and everything in between. Being strategic and thinking creatively is the key to setting yourself apart from the competition. Find new ways to reach customers and educate them on what you do instead of selling them on it. Being different in your approach to bidding on projects could be the difference in winning or losing the bid.

Get Started Today

Now that you have read tips on how to become a home builder, you can begin the process today. Starting a business can be stressful but these tips will help guide you as you begin the journey. Visit our website for more helpful articles like this one. 

The post 10 Tips for Launching a Home Building Business appeared first on SmallBizTechnology.

Perhaps, then, this might be the best time for digital transformation in every type of business.

Unfortunately, many businesses fail to utilize their most valuable data resources to make this transition smoother and more successful. Research from Gartner reveals that more than half of companies don’t include data and analytics as key factors in their digital transformation strategy.

Moreover, 62% of companies have experienced stalls during the digital transformation process. McKinsey reported that the most common reasons for these delays were a lack of direction or clarity, ineffective planning or design, and misinformed strategies.

Source: https://www.zdnet.com/article/digital-transformation-spotting-the-winners-and-losers-in-2020/

It’s quite clear that any strategy needs to be built upon a foundation of accurate data to succeed. So why is it any different when it comes time to boost digital transformation?

The fact of the matter is that data needs to fuel decisions throughout any process. Here’s how business leaders need to approach and integrate data along the digital transformation journey.

Boost Digital Transformation by First Identifying Opportunities from Data

For most companies, the process of digital transformation seems incredibly overwhelming. But the fact is that it does not need to happen all at once. Neither do you have to take a formulaic or one-size-fits-all approach.

For instance, digital transformation can give SMBs a much-needed leg-up against their competitors. While they can’t match large corporations’ million-dollar budgets, small businesses can focus efforts on specific areas that make the greatest impact.

Companies of any size can succeed at their efforts to boost digital transformation by solving some of the most significant issues first. Data can provide the roadmap and crucial starting points to get the transformation going.

Say your website’s traffic numbers are high but conversion rates are significantly lower. This could signal an issue with the user experience (UX). You can use data analysis to pinpoint the steps in the buyer’s journey where your numbers start to fall off. Tools such as Google Analytics will tell you which pages on your website people are spending the most time on. Others such as Hotjar will point out how visitors are interacting with those pages.

Make the Customer Journey Easier at All Times

It’s important for every company to focus on cutting costs, improving efficiency, and maximizing revenue. However, since customers (not money) drive business, the real transformation needs to start in customer experience (CX). This warrants that digital transformation takes place beyond marketing campaigns or web/app technology.

The best way to measure and improve CX is by creating a better internal structure that allows the business to personalize interactions. In a study by PTC, C-suite executives agreed that the greatest benefit to digital transformation was improving the customer journey. The report found that providing employees with the right information and tools was the best way to do this.

A good starting point is using data tools to create complex, data-driven customer journey maps. The entire organization can have the tools they need for better decision-making simply by monitoring the audience’s behavior. AI-powered algorithms can take these data points and transform them into actionable journey maps that show what needs to be done to keep customers engaged, retarget them, and close the deal.

Track Both Qualitative and Quantitative Data

To truly unlock the power of data, it is important to understand the difference between qualitative and quantitative.

• Quantitative data is usually affixed to a numbering system. These are common metrics that businesses track, like revenue per quarter or the number of leads generated per channel.
• Qualitative is a bit more difficult to organize since it is based on variables instead of specific numbers. This requires more advanced technology to categorize, especially for metrics like customer sentiment.

These two data types need to be used together to truly boost digital transformation. This goes beyond just stating that quantitative data is measurable in numbers while qualitative data is based on characteristics.

For example, if you’re conducting marketing research for the launch of a new product, your team should be collecting and analyzing both types of data from consumers in order to deliver a product that has market fit. You need to use automation as well as AI technologies, such as natural language processing and predictive analytics. This lets you combine hard data (quantitative) and uncategorized data (qualitative) for accurate insights.

Separate the Transformation Strategy from the Data

The quickest way to make organization-wide positive changes is to make data accessible for strategizing and decisions.

According to a McKinsey study, companies that successfully implemented digitalization derived the greatest benefits by providing employees with better tools. Complement this by making information accessible across all departments and creating digital programs to assist customers and employees.

Source: https://www.mckinsey.com/business-functions/organization/our-insights/unlocking-success-in-digital-transformations

McKinsey also found that the greatest barrier to transformation was a lack of leadership and direction through the transformation process. Robust data sources and top-of-the-line analysis programs are useless unless your entire team knows how and when to use them.

To make the transition more seamless, you can start with specific types of transformation. For most organizations, there are four key approaches:

• Business Processes: Applying technology for system support, such as inventory management or automation.
• Model Transformation: Incorporating technology to improve an aspect of the industry, such as digitization.
• Analytics: Centralized performance monitoring of all initiatives, especially digital, with end-to-end observability.
• Organizational Transformation: Integrating new systems to support the internal workings of a company, such as collaboration tools and data-sharing technology.

No matter which approaches your business goes with, you need to support every new strategy or system with data. Then monitor the results of these changes to see what is making a positive or negative difference.

It’s Your Turn to Boost Your Company’s Digital Transformation

There is so much potential that companies of any size can unlock if they have the data to do it.

Data analytics, processing, and organizational tools are critical pieces to the puzzle of digital transformation. Leaders must understand how to interpret the data they collect before, during, and after the digital transformation process to ensure continued success. Good luck!

The post How to Boost Digital Transformation Using Data appeared first on SmallBizTechnology.

Whenever you apply for a financial product — such as a credit card, loan, or mortgage — your application typically goes through a stage known as underwriting. During the underwriting process, the financial institution is looking at different characteristics of the customer. These typically include age, income, employment, and financial requirements. These criteria help them decide whether to approve the application and what rate they will charge.

Underwriting has moved away from the old process of being scrutinized by a bank manager on a case-by-case basis with that person making the decision. Listed below are some of the ways that underwriting has progressed significantly in the last decade.

The Use of Point Scoring for Underwriting Financial Products

Whenever a customer fills out an online application, that data can be evaluated against a lender’s preferred scoring system.

“With so many products like loans and credit cards, you can sometimes enter your details and get an instantaneous decision. What happens in between is that your data is scored against thousands of data points by that lender,” explains David Beard, founder of price comparison company LendingExpert.

“A lender or credit card provider might have 8,000 or 10,000 rules included in their scorecards. They’ll factor in things such as age, income, gender, residential status, and credit score. This is usually built-in using software or APIs. The lender will be collecting previous historical data. In this way, they have a good idea of whether a certain demographic is a better type of customer or is more likely to pay back on time.”

“Everyone might be given a point if they are a certain age or live in a certain area. Overall, a lender might say anyone that scores above 500 will be approved. If they decide they want to accept more risk, they can lower the score. Alternatively, if they want to be more risk-averse, they can up the score.”

Automated Credit Scoring

Credit scoring is certainly not new, but nowadays it’s astonishingly automated. Through the use of credit reference agencies or bureaus, a credit card provider or mortgage lender is able to pay $1 or $2 to a bureau and get real-time data on a customer.

This information typically includes how many other loans or forms of credit they’ve been applying for. It can also include how many debts they have outstanding. All this data will help the vendor make an informed decision.

Credit scoring is also very much based on numerical values and credit scores. This makes them easy to factor into the overall score and automate decision-making.

Using Social Media as a Factor When Underwriting Financial Products

Credit card processors have started factoring social media and email accounts into underwriting for many years. Neither of these tools was available a decade ago.

Whether evaluating the basics — such as Facebook, Gmail, or Linkedin — this provides an effective way to confirm that an individual is who they say they are. Moreover, it helps verify that the applicant is employed at the place they have claimed. This process can be automated, too. It’s not only useful for confirming names, locations, and employment, but it is hugely beneficial for fraud prevention.

Recent Use of Artificial Intelligence

The real art of good underwriting these days is to incorporate artificial intelligence (AI) into decision engines. Rather than having to constantly update scorecards, providers should be able to get real-time information of which customers are repaying on time and defaulting. They then feed this data back into their underwriting process. Essentially, the system “learns” and gets “smarter.”

Overall, the use of AI should make the underwriting process more effective, lower default rates, and maximize profits for suppliers.

The underwriting of financial products has truly progressed in the last 10 years. Going forward, we can expect that breakthroughs in AI, machine learning, and blockchain will have the biggest impact to scale processes and operations for companies in the financial space.

The post How Underwriting for Financial Products Has Advanced in the Last 10 Years appeared first on SmallBizTechnology.

Of course, you should trust the process. Big things take time, but you should spend your time on things that are making the future of your brand brighter. Don’t take shortcuts to success such as buying followers on your social media accounts or posting fake reviews.

Instead, invest time in things that will improve sales and grow your audience. For example, creating social media promotions, creating your own online surveys, interacting with potential clients, and writing your business plan.

What’s a Business Plan Template?

A business plan template is a plan for the quick setup of a business plan for your brand. It contains all the elements for the fast growth of your brand, including marketing plans to introduce your brand to the public. Having a business plan template is helpful, especially for people who are new to the business world. Most of the templates are free and are easy to find. You can find a lot of them online. You just need to do research and decide which plan is the best choice for your product or service.

Top 10 Business Plan Templates for Small Businesses

Templates are here to make grinding out your business plan easier. All you need to do is decide which plan you need and stick to it. Success might be right around the corner.

1. Hubspot

Hubspot provides a template that can help you with creating your business plan. This brief business plan template enables you to formulate your core message and provide investors with the information they need about your business. And the best thing is that the Hubspot template is free.

2. Course Hero

Course Hero’s business plan is great for people who just need to insert information about their product or service. What makes this plan better than others is that it’s both detailed and easy to set up. It’s free and available for immediate download.

3. The Balance’s Simple Business Plan for Entrepreneurs

Balance’s Simple Business template is a great choice for people who need help writing an organization’s description, labor requirements, and making sales strategies. Downloading the standard plan is free.

4. SCORE

If you Google search for the best business plan template, you’ll most likely find SCORE’s. This business plan template can help you find out if your business idea has any weaknesses and also identify opportunities for your business you may not even have considered. 

5. Bgateway

Bgateway (Business Gateway) provides a template that can help you from starting your brand to increasingly more complex tasks. It’s even helpful for people who want to raise funds to start their business. Bgateway offers a free plan on their website.

6. Bplan

On the Bplans website, you will find a template that can help you with each step of your plan and show you what an SBA-approved business plan should look like. It’s free to download and easy to follow.

7. Pandadoc

On the Pandadoc site, you will find seven free templates that can help you with your business growth. No matter what kind of business you have, you can find the one that is useful for you. Pandadoc provides business plan templates for bakeries, coffee shops, restaurants, and more.

8. The Business Plan Shop

The Business Plan Shop offers a detailed business plan sketch built for entrepreneurs who’ve never had experience writing business plans before. You can make your business plan for free.

9. Wise’s Business Plan

On the Wise website, you will find a template that can help you set your company goals. Using this template can show investors how you expect to expand your brand. It’s free and easy to use. 

10. ThinkBusiness’ Free Template 

Last but not least, ThinkBusiness has a great template to download. This template is great for beginners and is also very detailed and easy to set up. It’s free and you can start using it even if you have no experience in writing business plans.

Focus on What Makes Your Product or Service Unique

The templates listed above are great resources for small and medium businesses. There are tons of free templates available online, you just need to take time to research and work on your brand. Invest time in things that you believe have a bright future, be unique, make yourself known, and success will be a matter of time.

Growing your new business will require work and dedication, too. You can make this easier given all the sites and help available for free online. However, you should not stop there. Make another commitment to learning something new every day about marketing and improving sales.

The post Top 10 Business Plan Templates to Get Your Small Business Started appeared first on SmallBizTechnology.

To be fair, there could be a small kernel of truth in that. Wherever a marketing win is possible, there will be those willing to exploit it. Technology companies make billions of dollars selling individuals and businesses technology they don’t really need. Apple has just announced the new iPad Pro with the M1 chip inside. Right now, that chip is a market segment bully. No low-energy chip on the market can touch it in the computer space. The MacBook Air with M1 is more powerful than the vast majority of Intel PCs a consumer is likely to consider. People will pay to get the new iPad Pro. But they will be hard pressed to justify why they needed so much power in a tablet running iPad OS.

If you don’t really understand the world of tech, it is easy to get fast-talked into buying technology you don’t need. By the same token, it is also easy to refuse technology that you absolutely need. No one can keep up with everything. You have to delegate. If you don’t have an IT department, you need an IT consultant. It is conceivable that you have more technology than you need. But the more likely scenario is that you need more technology help than you think. Here’s why:

You Can Avoid Hackers with Technology

Everyone who works in the medical industry regardless of whether you are a member of hospital administration personnel, an urgent care nurse, a hospice worker, or a doctor with her own neighborhood practice should pay attention: At this very moment, you are being targeted with a ransomware attack, or a hack to steal patient records, or a breach that leaves your financial accounts empty. That attack is happening right now and you are probably ill-equipped to do anything about it. 

Protecting yourself against these sorts of attacks is just one of the reasons to contract a healthcare consulting firm. They do a lot more than manage payer contracts. One of the benefits they offer is technology consultancy. The medical practice as a whole is one of the biggest targets for criminal hackers. Everyone thinks they are too small or insignificant to be targeted until they find themselves at the wrong end of a ransomware gun. Taking measures after the fact is nice, but too late. Get your technology infrastructure up to date so that you don’t become the next headline.

You Can Also Increase Profitability

Once you learn how to use technology to protect yourself, you need to learn how to use technology to better benefit your business. It is not just about how not to lose money. It is also about how to make more of it. Here are a few things it can do for you:

• Reduce travel expenses by utilizing online meetings for situations that don’t require in-person work
• Utilize AI to streamline workflows and free up human workers to do more human-centric tasks
• Use computers to reduce errors and eliminate duplicative work

Humans are slow, inefficient, and prone to errors. That does not mean you should be looking to replace your workforce with machines. Rather, you can repurpose your workforce so they can do the type of work they are good at while allowing machines to do the type of work they do best. It is not a competition. When done right, it is a win-win for all parties.

And You Can Find New Customers 

You have heard the old adage that it costs 5 times more to acquire a new customer than retain a current one. Some place the number as high as 25 times the cost. Using technology to its fullest will not necessarily reduce the cost of customer acquisition. But it could make each acquisition more valuable. It hardly matters if you have a lot of customers who don’t buy very much, or who never buy big-ticket, high-margin products. You don’t necessarily want more customers; you want better quality customers. This is one of the areas where the right technology can really make a difference. 

Your small business might attract many cash-only customers that require very little in customer acquisition expenditures. However, you will almost always do better by attracting debit and credit card customers. Better still, what you want are Apple Pay customers. It is not a matter of class distinction. It is pure economics. People who use non-cash forms of payment will spend more. By having a cash-only business, you are actively alienating the very people who would shop with you more often and spend more money when they do. The problem with your business might not have anything to do with your products or service. It could be that you are catering exclusively to customers who can’t help you grow. Even if it costs more to acquire a good customer, the lifetime spend of that customer will be more than worth it.

Part of how you acquire and keep new customers is to be technologically available to them. If you are not easy to access from a mobile device, you don’t exist. If you are only interested in foot traffic, you are going to miss out on a lot of finger traffic.

Chances are, you do not have too much technology in your business. You need enough to protect you against constant cyberattacks, increase your profitability, and help you acquire the right customers that can help you advance your business.

The post This is Why You Might Need More Technology Help Than You Think appeared first on SmallBizTechnology.

Okay, that’s personal finance. What about small business finance?

Businesses can incur a lot of debt from buying materials in advance before they make a profit selling their products. Having your debt under control and not paying fees for missing payments is the key to not incurring more debt. 

Do you want to be debt-free with your business? Keep reading for more tips that you can get started on today:

Budget, Budget, Budget

Budget is certainly not a buzz word but it is extremely important to the financial integrity of your business. Without a budget, how can any business track how much they are spending in comparison to their cash flow? The last thing you want to do as a business owner is find out that you spent money on a new computer and now can’t afford to pay a bill that helps your business run.

Budgets take time to develop and shouldn’t be saved for the last 10 minutes of a meeting. Once you get your budget right, it will be easier to follow for the months to come. Making decisions based on your budget becomes much easier when you know where money is coming in and going to. 

Figure Out What Debt Is Costing You the Most

Is your building contract your biggest expense? What about the office furniture you bought? 

Find out what debt is costing you the most and target that first. If you own your office space, this may be the biggest expense. It will be hard to eliminate this monthly form of debt if you are leasing the building from someone else. Taking your biggest expense off the table can be a huge relief once it is paid off. You no longer will have to worry about the big payments every month and can just focus on the more minimal expenses and allocating your funds toward paying those off.  

Get Help From the Professionals

Who is the best person to talk to about debt? Consulting a professional in the financial world that can help you manage your business debt and present you with options of how to fix it.  Debt consolidation is a popular strategy if you’re the owner-operator of a bootstrapped, one-person shop. You can work with companies like Strategic Consulting to get a better idea of the best route for you based on the forms of debt you’re carrying. 

But what if you’re not financing the business with your personal credit cards? The fact is, there are debt consolidation companies who work with small businesses, too. Your CPA should be able to help you find the best solution for your needs.

Set a Goal

When would you like your business debt to be paid off by? How realistic is that to happen? 

Setting a reasonable timeline for your business to be debt-free can help serve as accountability along the way. It may be unrealistic to be debt-free in 6 months, but very possible within a year. You know your business better than anyone and can make a knowledgeable estimate on when you will be able to reach that goal. Sharing the goal with others can also help hold you accountable to hitting it by your desired date.

Look At Lower Interest Rates

Are there lower interest rates available for your current loans? Talk with your bank about options for a lower interest rate moving forward. There may not be options available but you won’t know unless you ask. 

Lowering your interest rate by any amount can significantly affect the amount that you will be paying. An interest rate of 5% on $500,000 for example is less to pay than an interest rate of 8-10% for that same dollar amount. 

Reinvest Your Tax Refund

Did your business receive a tax refund this year? Are you typically receiving a refund year after year? 

Instead of spending this refund on new items for your business, use that money to pay directly toward your debt. Think of it as money you were not expecting, given that you had already paid the government that amount. Using these funds to pay for your debt can save you from spending on upgrades you may not have needed in order for your business to continue running successfully. 

Sell Things

Does your office have an old storage room of desks, chairs, and other miscellaneous items? You can make money off of selling these items and put the profit toward paying your debt. 

Plenty of people that work from home are not looking to break the bank on a new setup for their home office. Making some money on items that are just collecting dust in your storage room is a win-win for everyone. You will also open up more space in your office too. Once you clean your office, you will realize how little you need materialistically for your business to thrive. There’s no need to do a complete office renovation right now if your current setup is getting the job done. Wait until you can pay for that remodel and purchase it then.

Develop Tunnel Vision

Becoming debt-free is not an easy task. This becomes even harder when trying to do it as a business. A fierce determination and vision is required for this effort to be a success. 

Run sales contests. Find new, more affordable ways to market your products. Don’t spend money on anything extra that isn’t absolutely essential to running your business. 

Cut the expenses that aren’t benefiting your business. 

It will be challenging but the reward of having a business that is debt-free and prepared with a savings for any financial challenges in the future will set you apart from most businesses. 

Don’t Wait

Now that you have read a few tips on how to become debt-free, why wait? Each day that passes is an opportunity to pay off your debt and take a step closer to your goal. Check out our website for more informational business finance articles like this one.

The post 8 Tips for Making Your Business Debt-Free appeared first on SmallBizTechnology.

Because these are the main stumbling blocks for SMBs, you’re probably already aware of these common pitfalls.  However, you might not be as mindful about underlying safety measures that can help stabilize your business even during the rockiest of times.  Here are some fundamental ways to cover your assets for your SMB that can help keep your business thriving into that 6th-year mark and beyond.

Tips to Safeguard Your Business

B2B (Business to Business) Background Checks:  Picture it..you’ve got a brilliant idea for a new product line and reach out to (what seems like) a reliable source for materials. Yet you find yourself left holding the bag and unable to fill orders because your source has failed to deliver. It’s a common and tragic tale told among small business owners. Save yourself, your customers, and your business a ton of heartache by doing intense background checks on businesses you’re considering working with to supply services or materials for your products or services. Doing this will save your bacon in the long run.

Bank Accounts: If you’ve been running your SMB for a while, you probably already have a separate bank account devoted to your business. However, it’s common for many startups to keep everything in a personal account at the beginning of their endeavors for various reasons. If this is you, and you’re starting to see an influx of business income, it’s time to make distinctions between personal and professional bank accounts. Take steps to separate credit cards and bank accounts into specific business products at your bank. Establishing a business bank account can also give you extra security for your finances, and other perks such as automatic alerts, online bill payments, flexible overdraft protection, and even the potential to receive a line of credit.  The benefits to a business bank account are contingent upon your bank’s policies, but segregating your personal money from business income is crucial to staying successful.

Business Insurance: This is a polarizing security option when it comes to small business protection. Some startups feel they don’t have enough money to pay for insurance when they’re taking all precautions to avoid incidents to begin with. After all…that monthly insurance payment feels like a lot to part with if you never use it.  That’s an understandable viewpoint, however, what if something does go wrong? Then what? If you don’t have enough money for business insurance, then delay opening your doors until you do. Insurance for your company can be a godsend in terms of protecting your assets, your customers, and your investments. It’s true, nothing is foolproof and insurance won’t keep your business in an impenetrable bubble, but it can protect you from fraud, theft, and much more.

Cybersecurity: Perhaps the most critical and integral precaution you can take for your SMB is ensuring your tech is safe. These days, this might seem like an obvious security measure, but the life of a small business owner is hectic, and sometimes these essential details might escape our busy minds. Do yourself and your business a huge favor by dropping everything and do a business cybersecurity check on your computers and networks now.  Be sure you have a top-notch firewall installed and it’s updated to protect your business information. Also make sure your antivirus software is current, functioning correctly, and able to detect security breaches at the drop of a hat. Change passwords often and make sure these passwords are hard to crack. As an extra measure of protection, consider getting an external data storage system and backing up all your business’s information on this backup drive.  You may not ever have a hacker crisis or a system shutdown, but if you do, these steps can save you and your business from tremendous trauma.

Employee: If you have employees, you’re probably hyper-vigilant about their safety and wellbeing.  You also need to get serious about protecting your SMB assets from accidental or purposeful theft or damage. You can gain peace of mind for your small business by providing digital badges to your employees. This gives you the control over who has access to various areas. You can also adjust permissions in the event of an employee termination. This protects your company’s equipment and data from all manner of pitfalls and security breaches. 

Furthermore, you’ve got to protect your employees from harm in order to protect your business from litigious actions. Nothing can slam an SMB down faster than an employee injury (or worse, death) while on the job at your business.  Even if an injury is minor, there may still be a threat of lawsuits.  That’s why your best course of action is to check for hazards around the office and/or warehouse facilities.  You can double your efforts to protect yourself and your employees by getting an OSHA certification. Occupational Safety and Health Awareness courses provide you with vital training and resources that enhance your awareness about job-site safety. This, in turn, protects your employees and your assets. It also paves the way to a happier, safer work environment and long-term business success.

Hire an Accountant: If you’re great with numbers, or even have an accounting background, doing your own small business taxes might seem the most ideal solution for you. However, running your business can be consuming, and big details can get missed while filing company taxes.  Plus, are you up-to-date with all the new regulations and codes? Do you know what kind of write-offs and deductions you can take for your SMB?  Whether you are a crackerjack at crunching numbers or not, consider getting a CPA who is devoted to your business’s success. This will save you loads of time and give you peace of mind.  While we’re on the subject, think about investing in accounting software to make your life easier too.  The extra money to hire an accountant or get accounting software may give you pause, but please remember, one false accounting entry can get the IRS sniffing up your assets which means audits and potential troubles for your SMB.

Cover Your Assets and Leave Nothing to Chance

At the end of the day, preparedness is the best way to assure success.  Think about all the long hours, hard work, and money you’ve poured into your SMB.  And then think about one small twist of fate flushing that all down the drain.  Now consider these preventative tips that are solid steps towards keeping your business, customers, and employees safe and preventing disasters on your company’s upward trajectory. When it comes to staying on top, you can’t leave anything to chance, that’s why taking precautions is essential to your growth and sealing your SMB success for many years to come.

The post ­­­­­­6 Critical Ways to Cover Your SMB Assets appeared first on SmallBizTechnology.

The Location

What’s the parking like? Is it in the right part of town for your target customer? Is it easy to get to? Is it accessible? These are important questions you should ask before you start a restaurant. If you are stuck in a location that isn’t working for any of these reasons, it’s important to make changes if you want to thrive. Or, you might want to consider restaurant alternatives such as virtual kitchens.  These unique restaurant set-ups forgo the need for parking or prime locations because they operate on a to-go, delivery and pickup basis. For example, a NYC ghost kitchen is ideal in this busy metropolis where prime real estate is a costly commodity and parking is at a premium.  Granted, if you want a full-service, sit-down restaurant, the location of your business matters and having it in the wrong place can lead to failure. Do your due diligence if you need to make a move to ensure you choose just the right location, or choose alternatives such as cloud kitchens that can give you and your restaurant customers the best of all worlds.

The Service

Unless your restaurant brand is built around offering terrible service to your customers, you need to provide incredible customer service. Every time a guest interacts with the staff in a restaurant is an opportunity to create raving fans of your business. Don’t just send your staff out to the wolves. Take time to train them so they are knowledgeable and can easily help customers with their questions. Teach them and show them what good customer service looks like. It’s amazing what a smiling face can do, so make sure you hire staff who are friendly and personable. You’ll save yourself a lot of trouble down the road if you choose the right people for your business.

The Food

Of course, people come to restaurants for the food. Is it good? Is it hot when it comes out? Is it what the people ordered? Creating a menu sets the tone for everything else in the restaurant. Give customers enough choices, but don’t make it too complicated. If you offer an allergen friendly menu, make sure it’s obvious. If there is a special way your customers need to order, give instructions to help them help you.

Whatever the theme of your restaurant, create a menu with selections that are unique and appetizing. Give generous portions so customers don’t feel slighted. Make it look pretty on the plate too. It’s amazing how this simple task can make the experience more enjoyable for customers.

The Water

Water is a vital component of a good restaurant business. It impacts everything from the cleaning, to pipes maintenance, to the way the food tastes. If the water at your restaurant business tastes bad, it will impact everything and it will deter customers from coming back. Imagine a customer gets a drink with ice in it. The ice starts to melt and makes their drink taste like chemicals or minerals. Or they just get water with their meal and it has a metallic flavor. These unpleasant tastes can translate into losing repeat customers.

The best way to improve the flavor of your restaurant water is with a water filtration and water softening system. A water softener in particular helps remove minerals from the water. This process not only helps the water taste better, but it also helps reduce how much detergent you’ll use when you do dishes each night when the restaurant closes. It also reduces mineral buildup in your pipes and can save you from costly repairs later. A good water filter will remove many of the chemicals that leave your water tasting bad and helps improve the flavor of food and other drinks. It also provides improved water safety for you and your customers.

The Atmosphere

What’s it like inside? Is it dark, bright, modern, or eclectic? Is it clean? Is it really loud, or can people easily have conversations with friends? The vibe sets the tone for how people enjoy the space. If it’s always dirty inside, customers will be put-off. Make sure your team cleans regularly to ensure an inviting space for guests to eat. If you want a family friendly environment, use furniture and color to make it more appealing. Plates, cups, and dinnerware are also parts of the restaurant experience. Creating a unique atmosphere can help a restaurant business do well.

The Kitchen

Is your kitchen running well? Is it clean and organized? Does everyone know their role and where to get what they need to make their part run smoothly? Just like the kitchen is the heart of the home, the kitchen is the heart of the business. Ingredients come in and meals go out. If your kitchen needs repair or it needs work, things will function less efficiently. This impacts how easily you can get meals out to the customers, prep food, and so much more. Give attention to your kitchen and how it’s laid out to ensure it is functioning the best.

The Cleaning

Floors, tables, and walls should be as clean as possible. It removes dangerous hazards, but also just looks better. Customers want to feel like the food they are going to eat will taste good and won’t make them sick. If your restaurant is always dirty, it may leave people feeling like something will be wrong with the food as well. Train your staff to keep their work areas clean, but to also stay on top of cleaning customer spaces. During busy times, bathrooms in particular get neglected. Cleaning these vital spaces will offer a welcoming vibe that keeps customers happy and coming back with their friends.

It’s possible to create a restaurant that thrives. When you focus on the location, atmosphere, food, water, kitchen, cleaning, and especially the customer service, your business will be more successful. Restaurants can have the best marketing, but if they neglect any of these vital components, they risk everything. Happy customers are repeat customers. Serve them with excellence.

The post 7 Critical Components of a Thriving Restaurant Business appeared first on SmallBizTechnology.

Whether you’re just starting a business or have been in the industry for years, there are always corners that you can cut to save some extra dough. You might not be as “high-tech” as some of your competitors, but you won’t be in debt and will be able to use your money for improving the quality of your business rather than the things behind the scenes. You will even have more financial freedom just by cutting out small unimportant things. Don’t let the financial burden of a small business deter you from continuing your dreams!

Cut Extra Costs

One of the best things that you can do to save some money as a small business owner is to cut extra costs. If you already have a laptop or desktop computer that works perfectly fine, don’t unnecessarily buy a new one. Keep your eye out for store or business liquidation sales to get any extra business supplies like desks, office necessities, and decor. Keep an eye on Facebook Marketplace, eBay, and Craigslist for any other items that you may need or just simply want. You never know when someone is getting rid of something almost brand new (like after Christmas!) that could fit perfectly into your office.

An even better way to cut costs is to work remotely. Hire employees to work at home on their own laptops and you’ll save a lot of money by not having to rent an office and furnish it. In addition to this, you can even still have office meetings through Zoom or Google Meet due to the improvement of technology over the past couple of years. If you want to save even more money, consider hiring one or two-time work freelancers. Hiring freelancers is one of the best ways to save some extra money while still meeting deadlines.

Utilize Free Resources

When managing a small business, don’t pay for services that you can easily find free online. Instead of purchasing a subscription to Microsoft Word and other Microsoft applications, utilize free Google resources such as Docs, Sheets, and Slides. These applications still have the same capabilities as Microsoft, if not more. You can also find free business guides, books, and seminars online for free. Don’t needlessly spend money when you can find things of the same quality for free. 

As your business grows, make sure that you’re utilizing the proper financial resources. Find free banks with little or no fees to save as much of your hard-earned money as possible. Many checking accounts have fees, but you might be lucky enough to find a free checking account or credit card service. On top of this, make sure that you find a way to save your money and capitalize on high interest rates. Whether you invest some of your profits or get a high-interest savings account, make sure you choose the best option for yourself and the future of your business.

Get on Social Media

Yes, you read that right. Although social media is sometimes written off as superficial, it is a great way to start marketing your business for free. Your platform may differ depending on your desired audience, but all social media pretty much works the same. Share what’s going on in the office, new accomplishments, or even some freebies. Build a relationship with your following and your clients may even start to recommend you to their peers or keep you in mind for when they need something in the future. Posting on social media is free and is a great way to build followers without having to purchase a billboard or business cards!

Although you can utilize social media as a completely free platform, you can also use ads to get your business out in a targeted audience’s feed. By using paid ads, you are pretty much guaranteed that you will reach someone, especially those of your targeted audience. Facebook, Instagram, Snapchat, and more recently, TikTok, are all great platforms for both social media users and businesses that are in search of more clients.  Although purchasing ads may not be free, it’s certainly cheaper than constantly buying business cards that might get thrown away or signs that will waste away time. By using social media, you can be sure that whatever you post or advertise will always be online for free!

Believe in Yourself

As you work hard on your business, make sure that you believe in yourself and don’t let financials stand in the way of achieving your dreams. Pinch pennies where you can and be frugal, but don’t stop yourself from improving your business. Work hard every day and know that you have the power to change your business for the better. Don’t be afraid of what can happen and plunge yourself into working hard. The benefits will soon add up and you will be thankful for your hard work!  

Overall, saving money and pinching pennies as a business owner is one of the best things you can do to grow your business and your wallet! Be sure to cut out any unnecessary costs and save money by using equipment that you already have or can buy for cheap. Utilize free resources and technological innovations instead of paying for subscriptions or pricey newsletters. Make a presence on social media to push your business above others without spending any money. Remember to always believe in yourself and you will soon reap the benefits of saving money while being a small business owner.

The post 4 Big Ways to Save Money as a Business Owner appeared first on SmallBizTechnology.

As your company adjusts to the “new normal” of remote working arrangements, one area to watch is business entity compliance. Specifically, we’re referring to how your business complies with the requirements for LLCs and corporations that operate within the borders of a given state.

You may be well-acquainted with the rules in the state where your business is formed and operates. However, you may be less familiar with the requirements elsewhere, which vary in each state. As your company pivots to hiring out-of-state employees and acquiring new customers via online channels, you should be aware of potential challenges.

This article serves to introduce you to the challenges of expanding a company into new jurisdictions. We’ll also suggest an approach and technologies to help you navigate the way.

Business Compliance 101

At the heart of your business is a legal entity, such as an LLC, corporation, or partnership. These entities have various ongoing responsibilities before they can register and legally operate in a new state. The exact list varies by state and on your specific activities, but it generally includes:

• Obtaining a certificate of authority to transact business
• Appointing a registered agent to receive service of process
• Registering for state-specific tax accounts 
• Obtaining business licenses and permits, which also may be required at the local level
• Applying for any DBAs or trade names

Once your company has registered with the appropriate agencies in each state, it can expect to do the following to maintain good standing :

• File annual reports with the secretary of state
• Maintain current registered agent information
• File tax returns with the state (and localities, if applicable)
• Renew any DBAs, licenses, and permits before the expiration

Preparing to Enter a New State

Chances are, the COVID-19 pandemic has stretched your company’s “footprint.” Out-of-state sales, employees, and other activities raise the real prospect of registering in one or several new states. However, following any state’s unique set of steps can be simplified by following this approach:

• First, review the requirements in your state and determine whether your activities trigger registration of any kind. Consult your attorney if you need clarity.
• Second, develop a plan to register the entity and secure tax accounts and licenses. This may include assigning tasks to your attorney, in-house staff, or third-party service providers.
• If you manage registrations in-house, ensure staff has access to the information needed to register your company. Establish a system to track submissions, approvals, and rejections. It’s also a good idea to keep records of filed applications, receipts, and agency correspondence.
• At this point, you will have evidence of registration typically needed for banks, customers, payroll companies, and other agencies. Be sure to provide them with these documents in a timely fashion.
• Internally, maintain all relevant registration data, such as approved filings and state-issued ID numbers in a central, secure location. You will need them again to file renewals and meet requests from vendors, customers, and other stakeholders.

The most important thing of all is to be proactive. Government agency processing times will vary, sometimes extending into weeks or months. Don’t let paperwork slow down your ability to hire a star employee or win a huge account. As soon as you recognize an opportunity, take action.

Leveraging Technology to Maintain Business Compliance

The  COVID-19 pandemic brought about a new paradigm of (mostly) virtual work. Companies that expanded into new states will have good reason to stay there. After all, they have new customers, employees, and opportunities driving profitability.

One key to ongoing success is maintaining good standing. Just like with registration, your company needs a plan to manage information, deadlines, and ongoing reporting in each state. With each new state, the complexity increases, and relying on manual systems creates risk.

Your company has likely invested in videoconferencing technology, project management software, and other platforms to allow your employees to collaborate virtually. With compliance at the heart of your company’s ability to operate and grow, an investment in productivity software can benefit your business during unprecedented times.

Creating a Plan

With this new information, work with your management team and review your need for any of the following:

• Entity management software
• Governance and records management software
• Sales and payroll tax reporting software
• Secure, cloud-based document and information storage systems

If you’ve already researched technology to support your entity compliance, you’ll know there are plenty of options for organizations of all sizes and industries. If you have yet to begin that journey, start a discussion with your management team. The right software solution can support your staff and instill more confidence in management and external stakeholders.

As we look beyond the changes brought about by COVID-19, companies also face broad administrative challenges in meeting state-specific compliance requirements. These challenges require a proactive approach and a modern technological solution. By doing so, you prepare your company for ongoing success and profitability. 

Disclaimer: Harbor Compliance does not provide tax, financial, or legal advice. Use of our services does not create an attorney-client relationship. Harbor Compliance is not acting as your attorney and does not review information you provide to us for legal accuracy or sufficiency.

The post Protecting Business Compliance During COVID-19 appeared first on SmallBizTechnology.

All of these vendor relationships pose a certain level of risk to your organization. There’s no getting around the fact that sometimes, a vendor will drop the ball. Maybe it won’t even be their fault — no one can predict the next natural disaster — but that doesn’t mean you don’t need to be prepared for it. By managing third-party risk appropriately, you can forestall many of the predictable risks that plague vendor relationships, like data and security breaches.

A Single Risk Management Assessment Isn’t Enough

These days, it’s just not enough to do your due diligence once and trust a vendor to be on the up and up throughout the rest of your relationship. In today’s landscape, security risks can evolve quickly, and you need to maintain continuous monitoring of vendor risk to identify data breaches and other risks as they appear. 

The risk of a vendor-related data breach alone is enormous. Forty-four percent of significant data breaches are caused by a vendor, whether as a result of human error, malware, or stolen passwords. And a mere 15 percent of firms report having been notified by a vendor that a breach has occurred. 

So you may not be able to trust a vendor to keep you up to date on vendor risks. You need to rely on yourself to monitor for all kinds of risks in your vendor relationships.

Vendor Risks Take Many Forms

To put together a successful third-party risk management program, you need to understand the many forms that vendor risk can take. If a vendor is supplying services or technology that is central to your business, you could face an operational risk if those services are interrupted. For example, if a cyber attack shuts down an SaaS service your company relies on, business could grind to a halt until it is returned. You risk losing money for the hours or days you can’t operate as a result. How are your vendor’s cyber security protocols? 

Of course, data breaches and cyber attacks aren’t the only third-party risks your company could face. Your organization could suffer reputational damage if, for example, it’s discovered that one of your third-party vendors has poor environmental practices or a poor social justice record. You could face strategic risks if you and your vendors aren’t collaborating seamlessly toward a common goal. 

When vendors have a direct impact on your revenue, you could take a financial hit if they fail to hold up their contractual obligations. Supply chain issues, insolvency, and even staffing problems can all contribute to these kinds of risks. Sometimes, vendors may experience setbacks that impact both of you financially, like extreme weather events or disease outbreaks. Even vendor systems that are used to track your company’s sales could create security risks for your organization. 

Compliance risk is another biggie for many organizations operating under strict regulatory guidance. If a vendor doesn’t comply with applicable regulations, your company could be held just as responsible as if you’d broken the rules yourselves. In situations where regulatory requirements are a factor, it’s vital to not only assess a vendor’s compliance protocols prior to onboarding, but to monitor them with close oversight throughout the vendor relationship.

Third-party risk management can make or break your business, because it can be what protects you from that devastating data breach or regulatory nightmare — or not. With the right vendor risk management tools and strategies in place, you can make the most of your third-party relationships, and work together with your vendors to mitigate risks and meet common goals.

The post Why Third-Party Risk Management Is Important appeared first on SmallBizTechnology.

Unfortunately, the pandemic has thrown a serious wrench into many companies’ interview and assessment processes. As firms try to navigate a path forward, it’s worth figuring out where coronavirus has dented your recruiting infrastructure. Here are 4 of the most important elements to consider: 

1. Posting the Job

Job hunting has been a primarily digital affair for years now, but the pandemic has taken the importance of tech in the process to new levels. Job fairs, conferences, and in-person recruiting opportunities have all but vanished, making recruitment sites the de facto job fairs of today. 

Technical recruiters need to keep in mind that this shift is exactly what they’ve been waiting for: an opportunity to take in resumes from as few funnels as possible, reduce travel costs, and maximize efficiency throughout. The impact can be positive for your entire business, too! Candidates recruited from LinkedIn are 40% less likely to leave than employees recruited through more traditional means. The shift to a fully digital recruiting process may have been sudden, but be prepared for it to stick around for the long term. 

2. Technical Assessment

Perhaps the single most crucial aspect of technical recruitment is the technical assessment. Before you hire a candidate, you need to know if they’re up to the tasks or not. While you might have once held technical assessments in your office during prospect visits, Covid-19 has mandated a new way of doing things. If you don’t want the quality of your technical assessment process to tank, you’ll likely need a bit of help.

There are a number of firms out there capable of facilitating remote technical assessments for tech hires. Platforms such as Coderbyte can reduce the cost per hire by up to 25% by maximizing efficiency and effectively vetting candidates. This makes the initial investment easy to earn back over time. 

3. Identifying Need

How do you determine when it’s time for a new hire in the first place? Likely after consultation with team leads and balance sheets, you feel comfortable enough to make a call either way. The new world of remote work has turned the water cooler into the project management platform, meaning that you can be more precise than ever about potential areas of need. After a given development cycle, go back through the data covering the process from start to finish. Is there anywhere that lagged behind expectations? Any snags that employees ran into repeatedly? Any complaints about crunch or resource misallocation? The more concrete your answers to these questions are, the more informed your decisions about technical recruiting will be.

4. “Fit” Analysis

How do you know whether a potential employee will fit well with her future team? More importantly, what steps can you take to come up with as definitive an answer as possible? During normal times, this involves conversations between top candidates and existing team members. These discussions likely entails questions that get to the heart of key issues. Now that the interview process relies almost entirely on email, Zoom, and phone calls, fit is no longer something that can be determined on the fly — you need to search it out. 

Find other ways to determine fit ahead of time. An increasingly popular method is by combing through candidates’ social media. A survey from CareerBuilder found that 70% of businesses now check the social media pages of applicants, and 54% have rejected someone because of what they found. In this day and age, that number should be quickly approaching 100. It’s not easy to coax sociability out of someone over a video chat, so look for its manifestations in other places. 

The age of Covid-19 has not made technical recruiting any easier, but that doesn’t mean a thorough recruiting process is impossible. By using the tools, platforms, and methods at your disposal, you can effectively attract and vet candidates in a way that ensures no one slips through the cracks. 

The post 4 Key Elements of Technical Recruiting & How They’ll Be Affected By Covid-19 appeared first on SmallBizTechnology.

Digital transformation may pose new challenges to retailers, but it also represents the opportunity to enhance, improve, and streamline your retail operations to meet customer expectations and build long-term relationships. Here are five types of IoT Software designed for retailers to help pave the way for growth and innovation for your retail store with the help of continuity merchant services. 

A Tablet POS System

According to a 2020 report by Deloitte on retail industry trends, convenience continues to be a primary component of customer buying decisions. For many business owners it may make sense to run customer sales through a tablet instead of the traditional desktop. Tablet point of sale systems are easily downloadable and offer the same functionality as desktop POS systems. 

For example, this iPad point of sale system by Lightspeed provides greater mobility than a desktop and facilitates the purchase process by allowing staff to accompany customers on the floor and help them make faster purchases. Using this app eliminates the need for customers to stand in long queues to make a purchase.

The software also comes with an inventory management feature that can allow staff to: 

• Determine product availability. 
• Answer any questions the customer may have regarding the product.
• Make product recommendations. 

Utilizing a tablet POS system allows staff to provide a more convenient and personalized customer experience, which is pivotal for business growth.  

A Human Resource Management Software

As your retail business grows, you’ll need to hire more employees. You will also need to manage your employees in a way that ensures high job satisfaction and growth. One way to ease this burden on yourself is to invest in a human resource management software. For example, GoCo.io is a hiring tool that helps you recruit new hires and manage your staff efficiently. 

This tool also allows you to streamline the hiring process by integrating the best talents into your retail business to improve productivity. GoCo also enables easy onboarding of new employees by introducing them to key aspects of your retail operations. 

It helps you navigate important HR functions such as:

• Arranging for employee insurance.
• Tracking time spent on the job.
• Generating payroll.
• Managing leave and paid time off. 

A Retail Accounting Software

Another useful software for retailers is an accounting tool that allows you to integrate your POS system with the accounting system of your store. If you invest in the iPad POS system by Lightspeed mentioned above, they also have an accounting software that integrates with the iPad system, allowing you to optimize your accounting tasks on your tablet as well. 

A cursory look at Lightspeed Accounting reveals that it can be used to perform the following functions:

• Maintain records of transactions.
• Keep track of taxes and product discounts.
• Generate financial reports on store sales and number of customers.

A Team Communication Software

Communication is vital to running a retail store in a transparent and efficient manner. As a retailer, you’ll need to collaborate with a variety of individuals associated with your business. This includes your managers, on-floor employees, vendors, and more. 

While many retailers rely on messaging platforms such as WhatsApp or email to communicate with other parties, there are other tools that may serve your needs better. Slack, for example, is a team communication platform that serves as an effective hub for co-coordinating with your staff and other third-parties. It enables smooth internal communication and offers a variety of features such as:

• One-on-one chats.
• File sharing.
• Creating channels to manage a team or a project. 
• Connecting via calls. 

A Loyalty Program Software

Integrating loyalty programs into your online and in-store customer experience is imperative to building long-term customer relationships. One such software is Lightspeed Loyalty , which allows your customers to sign up for a point-based loyalty program and benefit from:

• Promotions.
• Coupons.
• One-time deals on special occasions.

This tool can also help you build personalized marketing campaigns based on customer insights. It allows you to connect with shoppers and provide them with relevant offers and product recommendations that complement their shopping habits. The 360-degree functionality of this tool makes it one of the best software for retailers.

In a Nutshell 

From a mobile point of sale system and accounting software to human resource tools and customer relationship management tools, technology presents an abundance of opportunities to retailers to innovate and optimize their business operations and provide their customers with the convenience they desire. 

The post What are the Best Software Solutions For Retailers? appeared first on SmallBizTechnology.

Are you finding frequent errors in your calculations? Are your employees concerned because they’re not getting paid on time? That’s a problem, and it could cause your business to suffer. 

Your energy should be spent communicating with clients and managing your team. Technology can’t do those things for you. It can, however, take the pressure off payroll. You will find many tips on oceannenvironment to function your business smoothly.

Before you start searching for a service, there are some things you should keep in mind. Here’s how to get the most out of your payroll software:

1. Think through your company’s needs.

Not all software is created the same. That’s why there are so many different options. 

Before you pick a service, there are some key questions to ask yourself: 

• How many employees do you have? 
• Do you work with contractors? 
• What’s your budget? 
• How important are usability and customer support?

Look for options specifically made for small businesses, such as OnPay. OnPay’s payroll software lets you pay traditional employees as well as contractors, and a flat monthly rate simplifies software budgeting. White-glove setup avoids snags from the start. 

2. Insist on direct deposit.

We live in an era of “now.” Employees want access to their money when they want access to their money. 

Make sure the software you select allows direct deposit. Even across a dozen employees, the time costs of paper checks add up. A Bank of America study suggests every business check costs between $4 and $20, factoring in “soft” costs. 

Direct deposit is seamless, as well as more secure. Checks can be lost, cashed at bad times, and copied or altered for fraudulent reasons.

3. Check for tax features.

Taxes are one of the most time-consuming parts of payroll. If you’re searching for payroll software, make sure it can generate and file federal and state taxes. For flexibility, choose one that allows for quarterly and annual payments.

SurePayroll offers full-service plans. Not only will this software pay your employees, but it’ll also handle taxes for you. Furthermore, SurePayroll includes a tax-calculation guarantee. If they make a mistake on your taxes, they’ll deal with the IRS.  

4. Consider the cost.

The true cost of some payroll software can be tough to discern. Payroll Services Singapore offer a base account, which includes basic features. Depending on your needs, this might be enough for your business. But if you’re looking for advanced features, you might need to spend a little more. 

Keep in mind that some services charge a fee based on how often you run payroll and the number of workers you’re paying. Others assess fees for things like tax filings.

When you’re assessing options, look for a software that allows unlimited payroll so you can pay employees as often as you’d like. Always ask to see examples of how fees play out for companies of different sizes.

5. Look for HR features. 

Why track your employee’s PTO or sick days when a payroll program can do it for you? 

Automation and self-service save time. Make sure your payroll tool lets employees submit time-off requests for your approval. Check whether they have a space for an organizational chart and roster. In-app messaging and document storage are handy features to have as well. 

6. Make sure systems work together.

If you’re new to managing a business, you might not understand the importance of integrations. Integrations pull information between software programs so you aren’t copying, pasting, and checking your work all day.  

Review the other business software you’re using. For example, if you use QuickBooks for bookkeeping, why not also use QuickBooks for payroll? This way, you won’t have to move data from one platform to the other.

7. Decide on employee access.

Granting employees access to your payroll software is a good idea. It’ll save you from having to enter their information, which can be time-consuming. Plus, it minimizes your liability: You don’t want to be the one to lose a passport or a Social Security card. 

Make sure employees can create their own profile, and ask about data security. Employees should be able to view their pay stubs, attendance records, and tax forms without worrying about it falling into the wrong hands. 

When it comes to payroll software, do your homework. You don’t want to spend money on something that doesn’t make sense for your business. Choose well: Payroll software is one of the smartest investments a small business can make.

The post How to Choose Payroll Software for Your Small Business appeared first on SmallBizTechnology.

According to the third annual State of Business Travel survey, by National Car Rental, 67% of respondents try to keep their work and personal lives separate, but 65% don’t think that goal is attainable. More than 50% of participants admit to blending work and personal life.

You’re probably familiar with the typical ways we blend our work and personal lives, such as answering emails and taking work calls after working hours. That’s pretty much every day for me!

I’ve partnered with National Car Rental to share some interesting findings from the survey and new trends of work and leisure travel. You can rent tents as well from Comfort Teltudlejning.

Bleisure Travel

As someone who travels often for speaking engagements, I found it interesting to learn that the blending of business and leisure travel (a.k.a. “bleisure”) continues to increase in popularity. Here are some stats:

• Most business travelers (81%) blend business and leisure travel in one way or another, such as incorporating leisure activities into business travel (61%), extending business travel into leisure trips (41%) and booking a vacation around a business trip (33%).
• Millennials (86%) are more likely to have done bleisure travel than Gen Xers (76%) and baby boomers (73%).
• The majority of bleisure travelers believe business travel contributes to their career success (86% vs. 69% of non-bleisure travelers) and helps them build key relationships they otherwise couldn’t without business travel (81% vs. 73%).

As a member of Generation X, I have done my share of bleisure travel. When I went to Aruba for a speaking engagement, I definitely stayed for a few days of R&R. Wouldn’t you?

Ground Transportation and Technology Use in Bleisure

The survey also found that business travelers use a variety of ground transportation options, just like this cross dock service. 

According to National’s survey, 9 Seater Hire cars are the top choice for getting around the city (78%) and going to business meetings (72%), while ridesharing is most often used to get to restaurants and bars (68%). Rideshares and taxis are used equally to get to and from the airport (70%).

Bleisure is made possible, in large part, by technology. In fact, 90% of survey participants chose brands that offer tech tools that improve the travel experience. And 90% of bleisure travelers perceive connected cars as useful for business travel. National Car Rental, who commissioned the survey, offers an award-winning mobile app that provides business travelers with a single point of contact to manage all aspects of their trip. In addition, National’s website was recently ranked No. 1 in customer satisfaction for ease of navigation, overall appearance, range of services/activities, clarity of information provided and page-load speed.

Visit National’s website to learn more about bleisure and to check out the in-depth results from the 2020 State of Business Travel Survey.

Don’t forget to sign up for the Emerald Club, National’s loyalty program that offers the choice, convenience and time savings of counter bypass, as well as choice of rewards.

Disclosure: This post is sponsored by National Car Rental. All thoughts and opinions are my own.

The post Bleisure: The Rising Popularity oof Blending Work and Leisure Travel appeared first on SmallBizTechnology.

Managers do everything they can to make their operations leaner. Many move their clunky on-premise network to the cloud or find less expensive office space. They lower their shipping costs or implement a project management solution.

However, one oft-overlooked area is procurement. All businesses have procurement needs, and most pay more than they should. From coffee cups to toilet paper, your business may be missing out on opportunities to save.

To see if you could cut costs on procurement, take stock of your strategy by answering four questions. You’ll discover how lean your operation really is — and find some ways to leverage the power of a group purchasing organization.

1. How do you track your procurement?

In many organizations, procurement is barely tracked, let alone optimized. Someone notices the Keurig cups are low, so Sam in accounting orders more. A couple weeks later, the supply has dwindled again; another replenishment is needed. No one notices the accumulating costs until the end of the year. 

There’s a more efficient way to manage these expenses. Using the power of analytics software and procurement companies can increase transparency. After all, you can’t save what you can’t see.

 2. How much of your procurement is under management?

Who takes care of your procurement? Having a dedicated professional regularly analyzing these costs can make a big difference. A study found for every dollar spent under management, enterprises see a 6% to 12% benefit, on average. Putting more of your firm’s procurement under management generates significant benefits. 

3. How’s your vendor performance?

Does your supplier process orders promptly, or are you left waiting on deliveries? When you contact your vendor, do you hear back immediately? Does it take days to get a response? How often are providers out of stock? Do the terms and prices fluctuate unpredictably? Does the quality of the products pass muster? What about the efficiency of the service?

Remember, vendor performance affects your bottom line. Waiting on back-ordered supplies, returning defective products, or experiencing communications lags doesn’t just eat up your patience. It eats up your profit margins, too.

4. How much does your procurement cost you?

World-class procurement corporations spend 21% less on business supplies, according to a Hackett Group survey. With those kinds of savings on the line, it pays to pay attention to procurement costs. 

Industry titans can use their volume to negotiate discounted costs, but what about a business with a handful of employees? That’s where the power of group purchasing comes in. By working with a procurement solution company like Una, smaller operations can use collective buying power to access bulk discounts. Bringing down those costs can help margins. 

Only the leanest operations can survive in this environment. A competitive procurement strategy can make the difference between struggling and thriving. Consider taking steps to tighten up your procurement. Refine your management processes. Evaluate your vendor performance. Better yet, leverage the collective buying power of a group purchasing organization. 

The post Is Your Procurement Strategy as Efficient as It Should Be? Here’s How to Tell appeared first on SmallBizTechnology.

Where to Look for Leverage

If you don’t want to overbuy to reach a certain order amount, you have three options to get a national supplier’s attention:

1. Provide more than money.

Enterprises don’t just need revenue. Think about what else you might be able to offer: Are you developing an invention they might be interested in? Could you swap products or services? Might you be able to help them hit their marketing goals?

Had it simply asked to buy gold from Dell, Bayou With Love almost certainly would’ve been rejected. The boutique apparel startup, however, has something that the typical metal recycler doesn’t: a social mission. Because Bayou With Love builds its products only from sustainable, recycled materials, Dell agreed to provide it with gold recovered from motherboards. Bayou With Love gets gold at below-market costs, while Dell gets to brands itself as environmentally conscious.

The key to this strategy is connecting with the right stakeholders. Dell’s B2B sales team might’ve seen little reason to work with Bayou With Love, but its marketers sure did. Before reaching out, get a copy of the company’s organizational chart. If you might be able to help with innovation, for instance, find out who the CIO is and email her directly.

2. Join a GPO.

The second way to work with national suppliers is the simplest, but it involves giving up some control. By joining a group purchasing organization, you benefit from pre-negotiated agreements and more assurance that suppliers will hold up their end of the bargain. You get bulk discounts, even if you make a relatively small purchase.

Because GPOs handle contract negotiation, however, they also choose which vendors they work with. Vertical market GPOs serve a specific niche: A hospital association, for example, might only offer buy ionamin phentermine online medical supplies. Horizontal GPOs go broad, covering business needs that are common across industries, like computers and cleaning supplies. Although both types tend to partner with national suppliers, many don’t work with local companies. If you’re set on nearby or niche suppliers, expect to maintain those relationships yourself.

Beware, too, that some GPOs charge a membership fee. Under that model — think Sam’s or Costco — buyers essentially pay for the opportunity to play. If you go the GPO route, look for one that recoups its costs from suppliers.

3. Convince small businesses to buy in.

If you can’t come up with a partnership opportunity, look to the other companies in your network. If you’re part of a startup group that’s outgrown co-working, you probably know a lot of entrepreneurs in need of office furnishings. Together, you might need enough desks to perk the ears of a national office supplier.

This strategy doesn’t just work with products, either. Because major health insurers don’t like to provide group plans to mom-and-pop businesses, small companies have begun banding together to purchase employee health insurance.

The challenges with this approach are twofold: First, small companies in the same industry and geographic region tend to see one another as competitors. Getting them to cooperate can be difficult, even if it’s to their mutual benefit. Second, putting together bulk orders takes time. Which company is going to take on that responsibility, and how should the others compensate it?

If national companies give you the cold shoulder, don’t give up. Their sales team might have written you off, but other stakeholders may be open to suggestions. And if you can’t find your own way in, partner with colleagues to stand out or join a GPO. Don’t neglect these options if you want to save your company some money.

The post How Companies Can Get Around Minimum-Sized Orders appeared first on SmallBizTechnology.

Lou sums up the popular feeling about presentations well –

“We’re thinking about persuading people to do things. We’re thinking about stories we want to tell to get people excited or motivated and we’re not necessarily thinking about like ‘Oh, this is the best representation for how this should look’…”.

Ramon and Lou dove deeper into the nitty gritty of what it really means to present, and how many people are using their presentations as a ‘data dump’ instead of helpful support tools. According to their conversation, research has shown that people cannot both listen to a presenter talk and read the information on the presentation – it’s always one or the other.

“…it’s about having that confidence about your story and then bringing in visuals that reinforce that or again, convey ideas that are harder to tell with words…” – Lou Giacalone

So how do you create a presentation that tells the story, without taking away from the story you are telling the audience? How do you present, and use your presentation as your support, without taking away from your words?

Lou says the key is to keep the presentation simple, and use it to backup your story, rather than tell it. And, this tool from Beautiful.AI will help you accomplish just that. Using the ‘emphasis’ feature, you can create slides with several different points or stats, and this feature will emphasize the most important one for you, so that you when you’re speaking about it, your audience can stay focused.

“…and that’s what we’re trying to get out, is all the stuff that you’ve been trying to force yourself to learn and adapt to and again, overcome your own skills deficit whether it’s design or storytelling […] we’re here to make that jump a lot easier…”

And, without being solely focusing on the presentation, you can better interact with your audience. Lou says that there are three ways to help create a stronger impact, and leave a lasting impression:

• Making eye contact
• Smiling
• Interacting with the audience

Unsure how to interact with your audience? You aren’t doing stand-up comedy or a magic show, so the key is to really be simple about it. Walking around, gesturing to someone, asking a question, or using someone’s name (if you happen to know it) will keep your audience focused on you and what you’re saying.

Presenting to an audience – students, investors, colleagues, a boss – require you to share knowledge in a way that will pass information efficiently. Lou also advises against using jargon or acronyms, saying, “You gotta make everybody feel like the message is for them and if you’re using language that they don’t understand, then that’s no good and it’s unclear.”

Another tip to keep in mind while presenting – slow down. We’ve all sat through presentations where the speaker was going too fast to be able to absorb anything. It leaves us with our heads spinning and without a  clear understanding of the information that was presented. Speak slowly, pause where needed, and allow your words to have impact.

The post Good Presenters are Great Storytellers. Presentation Exec Shares His Tips appeared first on SmallBizTechnology.

Every single one of us – and I speak as someone who has been part of a small business – has a pain point or two (possibly more) we need help solving. Small businesses can – and do – benefit from technology designed specifically for us, for example for a restaurant business I fully suggest working with Harbortouch.

Whether it’s getting more customers or finding affordable insurance or sourcing great talent, the local businesses that have helped create nearly two million new jobs and support our economy can’t do it alone. The Custom Software Development By AGR Technology helps you to custom software development.

If you’re reading this as a local business owner, you already know what you do is challenging and rewarding. You probably also know that software can be really useful in your daily work life – but how do you assess it? What do you look for? Read the latest Spin Rewriter 10 review and check out the bonuses on how this can help your website. As the founder of a company that’s creating software to solve fundamental business challenges – customer communication and responsiveness chief among them – here’s what I’d ask when evaluating a solution.

Will you use it?

And will your people? Let’s be honest: If you have doubts, if it doesn’t feel simple, if you know you won’t invest the time into learning it, or it’s too complicated for your team, it’s time to consider your other options. What would you actually use? Most software fails because people buy it and then just can’t get over a learning curve that’s too much for them. Don’t waste your money with something that will just sit on your shelf.

Is it critical – and is software really the right answer?

Maybe it’s weird to say this in a tech outlet, but technology is not always the right answer. Hey, everyone likes the latest and greatest, but technology for technology’s sake is rarely, if ever, the way to go. What are you trying to solve for? Software can help when there’s a task or problem that’s repeatable, can be automated, etc, we suggest checking the Conversational AI Software Solutions for further information. But don’t discount the human touch. There are things we simply do better ourselves, unencumbered with technology – whether it’s calling an irate customer back to resolve a complaint about a repair or reassuring a pet owner their dog will be fine at the kennel.

If it touches your customers, will it meet their standards?

You know what modern consumers want – you’re probably one yourself. We’re tied to our mobile devices and always looking for what we need, when we need it. If your customers will experience this software themselves, you need to consider it from their perspective. A crappy user experience ups the odds that a customer will get frustrated, decide not to buy, or not to return. Don’t take that risk. Businesses compete – and win – based on user experience. Make sure your software makes it incredibly easy for your customer, whether it’s finding you, communicating with you, or paying you, think of efficient software like JetPack Workflow which is used for something as crucial for a business as financial operations, it needs to be efficient and streamlined while also being super friendly to the users.

If you can answer yes to all three of these questions, then it’s probably a good bet. But remember – and you knew a caveat was coming – think about cost. If it touches your customer and helps you get paid, it’s probably worth more. Don’t cheap out where you shouldn’t (but don’t invest $10K in something that’ll give you $500 in value to your business either).

Good luck!

Published in partnership with Broadly.

Authored by:

Josh Melick, CEO and Co-founder, Broadly

The post 3 Ways to Make Sure the Software You Buy Will Really Work For Your Business appeared first on SmallBizTechnology.

As workplace technology continues to advance, we expect to see three major technology trends emerge for SMBs in 2019.

Using technology and internet to manage your business is the best thing that you can do, Then obviously it’s much better to do your HR in the cloud and there are lots of great HR software that is completely based in the cloud so we recommend looking at those if you need a new HR systsem.

1. Small businesses will increasingly incorporate artificial intelligence (AI) and machine learning (ML) into their services and solutions.

Due to their size and flexibility, small businesses will be some of the first to employ cutting-edge AI- and ML-driven technology to improve their stance against larger companies. AI and ML allow SMBs to effortlessly scale without causing constraint or adding exorbitant amounts of headcount.

With conversational interfaces being one of the fastest-growing ways to implement AI and ML, we will see SMBs leverage chatbots to provide 24/7 customer assistance while keeping costs down. This could take the form of a bot reading Soda PDF documents, then “learning” and answering common questions, to create efficiencies and free up valuable employee time.

Given their focus on cash flow management, SMBs will also use AI and ML to detect anomalies in financial data, such as in expense reports or invoices, to prevent erroneous, fraudulent, or duplicate payments. ML can also be used to essentially “read” text—like that on a receipt or invoice—and pre-populate information to eliminate human error.

2. Small businesses will grow at a faster pace by tapping into their professional networks to learn from thought leaders and crowdsource insights that previously weren’t available.

Technology allows small businesses of all industries and geographies to connect and work better, together. In 2019, we will see SMBs take this to the next level and create communities to power their businesses with pooled knowledge, insights and data previously exclusive to larger companies.

SMBs will use these newfound business relationships and broadened networks to learn best practices for common business needs, such as marketing, customer lifecycle management, manufacturing, and finance. They’ll also team up to purchase and share physical resources, like tools or equipment that’s only needed a few times a year, to reduce capital expenditures and create major savings. Pooling resources for items like

• vehicles,
• specialty printers,
• presentation equipment.

can also spread out storage and maintenance costs.

With SMBs gathering industry-specific data and working closely with each other, innovation will flow from these organizations. The one-two punch of technical solutions and practical application will poise them for unprecedented growth and success. Small businesses will also work with peers to give back to their surrounding communities and organizations.

3. Small businesses will become increasingly diverse. We will see a rise in women, minority, and millennial business ownership.

The American workplace is becoming increasingly diverse.

• Women-owned businesses account for 20 percent of businesses with paid employees
• approximately 11.1M businesses are minority-owned,
• and almost half of millennials intend to start their own business in the near future.

These numbers will only continue to grow as SMBs harness technology and the power of their communities and put an emphasis on diversity and inclusion. Through bourgeoning community networks, we will see different backgrounds and perspectives converge, bringing together diverse viewpoints, spurring open discussions and supporting healthy, constructive debates.

As each of these technology trends come to fruition, we’ll see small businesses break barriers and create greater opportunity. These trends, partnered with athleticism, innovation, and entrepreneurial spirit, will cement 2019 as a marquee year for SMBs

Authored by:

Christal Bemont, SVP & GM of the Small, Midsize and Nationals business unit, is building a thriving and connected global community of SMBs within SAP Concur. By expanding the customer relationship beyond Travel, Expense and Invoice, Christal’s vision is to improve customers’ economic and financial viability, help them unlock new opportunities and promote social and environmental good. Christal’s personal connection to the industry started as a young girl, helping her mother with several small business ventures. Since joining SAP Concur in 2004, she’s grown her career from individual contributor to a leading sales executive and company spokesperson. In her free time, Christal serves her community by volunteering at organizations, such as the Anderson Animal Shelter, the local women’s shelter and Feed My Starving Children. For more about Christal, please visit her LinkedIn profile.

The post 3 Small Business Technology Trends to Watch for in 2019 appeared first on SmallBizTechnology.

With SMBs facing an uphill battle to attract the best talent, it is easy to see why these demands might be easily met by an employer. However, small and medium businesses owners would be wise to consider the wider impact this will have, and the challenges they will have to overcome.

What is the New Normal?

A recent study of 1,850 employees from small- and medium-sized businesses in the U.S. and U.K. has uncovered the expectations when it comes to mobile working – with some surprising results that demonstrate just how much attitudes have evolved.

Mobility over Money: More than half of those surveyed (52 percent) stated that they would prefer to take a pay cut rather than being restricted to always working in an office! To add to this, a further 12 percent would choose the flexibility of working from home over the office even if they were offered a salary increase of 25 percent.

A Happy Workforce…: When asked about the benefits of being allowed to work remotely, one-third (34 percent) said it made them happier and 32 percent claimed that it makes them enjoy their job. With job satisfaction and work-life balance becoming increasingly important for employee retention, this is definitely a factor that modern businesses need to consider if they want to keep their best workers from seeking greener pastures.

…Is a Productive Workforce: Not only does this flexible approach to working increase employee satisfaction, it can also have a positive impact on quality of work. In fact, the largest proportion of small business staff (38 percent) claimed to be the most productive when working from home. Visibility in the office does not necessarily equal productivity — from commuting to unnecessary meetings to water cooler chat, interruptions in an office setting affect workers more than the distractions at home.

New Ways of Working = New Challenges

The benefits of granting employees flexible and mobile working are clear, but there is a dark side to all this freedom: the potential danger that employees bring upon themselves and their employers when connecting remotely to internal systems, or by accessing the internet out from behind the corporate firewall and the cybersecurity protections within.

While one in five employees state that they are the most productive when working in public spaces like a café or library, only 18 percent are concerned with the cybersecurity implications that this could have.

If staff access sensitive data or log into corporate accounts via unsecured public Wi-Fi networks, they are putting the business at risk of an attack. There is also risk of a data breach should an employee save private information to a device that then gets stolen, especially if passwords aren’t unique and complex. Not to mention the fact that many tools businesses use for additional security are only effective when the employee is in the office, for example web protection or advanced firewalls. Once an employee is out in the world, they are no longer afforded these additional layers of protection when accessing the web from home or a coffee shop.

While the lack of employee concern is worrisome, business owners also have a role to play here. The research found that 38 percent don’t receive the technological support or expertise they need when working from home or in a public place, https://xanaxtreatanxiety.com. If employees are going to be working remotely, they need the same level of protection they would receive at the office.

The Need for a Holistic Approach

The trend toward mobile working has increased in recent years, but businesses should not rush into it blindly. As much as this is becoming a popular request, the research found that there is still a significant number of those who prefer the stability of basing themselves in an office.

The study also found that levels of stress and anxiety in the workplace did not differ wildly whether an employee was office or home-based, suggesting that there should not be a one-size-fits all approach to mobile working.

Effectively small businesses have to fight the security battle on two fronts – in the office and any location their employees choose to sign on. End-users should be equipped with the tools they need to conduct business wherever, whenever, and from any device.

Tips for Managing the Mobile Workforce

Don’t make assumptions: Flexibility and mobility are becoming increasingly popular, yes; but that doesn’t mean that this is the case for everyone. While a significant number value remote working over a pay raise, it is not this cut-and-dry for your whole workforce. Engaging with your employees about their work preferences and style will not only make them feel like they’ve been heard, but it also gives you an opportunity to talk about security risks.

Educate your employees: In many cases, mobile working is expected rather than viewed as a “nice-to-have,” however workers need to understand the role they play when it comes to security. In any business, everyone is responsible – and the organization is only as secure as its weakest link. Employers need to educate their staff and emphasize how they can keep company data and IT property secure.

Provide the right support: Small business owners need to provide security measures for mobile workers such as virtual private network (VPN) solutions for use on open Wi-Fi connections, anti-malware endpoint software, and cloud-based web security solutions that follow the user no matter where they are. Now that the internet is the new corporate network, flexibility in security solutions is a requirement, not just an addition.

Those entering the workforce today are demanding increased flexibility with hours, location, and personalized benefits. Though proven in some cases to increase employee satisfaction, and even productivity, there are very real security issues that need to be addressed. Small business owners need to provide the tools that not only enable flexibility, but do so in a secure way.

By taking a holistic approach with staff, small businesses will be in a better position to address the growing demand for mobile working without compromising security or isolating those who still prefer working from the office environment.

Authored by: Gill Langston, Senior Product Manager, Avast Business

Gill Langston is Senior Product Manager, Avast Business, a division of Avast, the global leader in digital security products. In his current role, Gill is responsible for the strategy and roadmap as well as the feature and services definition for the CloudCare platform. In the past 12 years, he has worked with organizations of all sizes to secure their infrastructure and attain compliance goals through email security, network security, endpoint security, patch management, archiving, and event monitoring. Previously, Gill held multiple leadership roles in sales and product management at GFI Software and served as Director of Product Management at ThreatTrack Security, and most recently, Qualys. Gill lives in Charlotte, North Carolina. He is a sci-fi nerd, plays guitar, bass and drums, and is raising a 10-year old daughter.

The post Less Pay & More Flexibility: How to manage the challenges of the modern mobile workforce appeared first on SmallBizTechnology.

While most mid- to large-size companies execute on their Human Resources plan through a formal HR department staffed by at least one seasoned employee, a lot of small businesses don’t have the time, energy and resources to properly invest in a full-blown HR department.

In years past, this meant that many small businesses ignored the formality of HR altogether, opting instead to cobble together solutions in-house with whatever available staff and resources they had on hand.

In fact, 70 percent of small businesses handle their own HR services as a side job. That consumes 25-35 percent of these people’s time, taking away valuable time they need to actually run the business.

In addition, such a “solution” creates a lot of risk for the business and also hampers vital processes such as workflow, administration, payroll and recruiting. Today, small businesses that find themselves in these situations are lucky, in that they can turn to HR cloud services to benefit their company.

What Are HR Cloud Services?

According to New Jersey IT services, HR cloud services are management systems designed to help businesses handle all their HR tasks in a streamlined, automatic fashion. Outside companies, such as Mitrefinch, handle HR cloud services help businesses optimize their HR process remotely.

According to my companies it services in addition to reducing the workload of non-HR employees, HR cloud services can ensure a business is following all the proper rules and regulations it needs to, as well as provide suggestions on how the business could better streamline its services to serve the company better.

By creating a centralized database, HR cloud services can:

• Help managers track their employee hours in real-time, which increases payroll accuracy.
• Drastically improve employee schedules remotely and online.
• Manage employee attendance, as well as leave and time off history.
• Streamline the recruitment process and involve more people in multiple locations. 

HR cloud services are changing the industry by taking advantage of the powerful technology that is at the disposal of small businesses today. Teaming up with HR cloud services like SAP, sap partners will aid in customizing and enriching technology platforms to deliver tailored needs to customers all over the world.

Why HR Cloud Services Benefit Companies That Have an HR Person

For small businesses that have invested in an HR employee or an HR department, utilizing HR cloud services from an outside company such as Mitrefinch is still advisable.

Why? Because the technology these companies have developed and provide is a tool that can enhance the work that on-staff HR employees are already doing.

Recruiting is a major aspect of an HR department’s duties as well as the tech for https://www.servicemax.com/products/warranties-contracts to keep the records in check. HR cloud services can help to streamline the process of reviewing applications and resumes, allowing hiring managers in any department easy access to the information at their fingertips, no matter where they are.

In addition, HR cloud services can be used as an easy communication tool between the HR department, management and a company’s employee base. The cloud is a place where the HR department can store important forms or information packets that employees can easily check if they have a question, potentially reducing the time HR employees and managers currently spend to research and answer their employees’ questions.

Perhaps the biggest advantage to HR cloud services, even for small businesses that have on-staff HR employees, is it reduces the time managers spend on managing their employees’ time and, as a result, the payroll process.

With business becoming ever more global at an increasingly rapid pace, it’s essential that vital tasks such as HR services are in line with today’s remote business landscape. Managers need to be able to monitor their employees and administer the services they need from places outside the main office.

By offering remote time management software, companies like Mitrefinch help small business leaders manage their teams even if they are unable to be on location with them.

Streamlining the workforce management process helps small businesses save valuable time and money, which helps increase their output exponentially. Services such as a fingerprint scanning time clock simplifies the check in and check out process for employees, allows managers to monitor their employees’ attendance in real time remotely, and reduces the significant amount of time it takes these managers to wade through and approve manual timesheets for payroll.

HR Cloud Services Keep Your Business Safe

Another attractive aspect of HR cloud services for small businesses is they keep your vital information safe. Old-fashioned print-outs of sensitive employee and company information are a thing of the past. While this is information you may need to access on the go, it’s also extremely important it is safe and secure.

HR cloud services businesses such as Mitrefinch have invested heavily in the most advanced and up-to-date security technology, ensuring your information, and that of your employees, is safe from possible attacks and exposure, all while being easily accessible to you.

Data security is an essential component of any small business, no matter the industry. Not having to worry about whether your data is safe is important, as small business managers and HR professionals need to focus on the aspects of the business that have the biggest impact on the bottom line.

Being able to deploy on-premise and cloud-based workforce management solutions is the key to staying ahead of the curve in today’s business world. That’s why HR cloud services are not the wave of the future; they are already here.

Mitrefinch delivers Workforce Management and Time and Attendance solutions enabling organizations to better measure, analyze and manage employees’ working time, and deploy human resources more effectively.

Written in partnership with MitreFinch

The post HR Cloud Services Benefit Small Businesses appeared first on SmallBizTechnology.

A job management software is the best way to move away from paper time cards or spreadsheets and manage onsite and mobile workforce more efficiently without time-consuming payroll processes and reports. Visit ranktrackify.com site for further details. They also simplify the tracking of payroll hours by replacing the written systems that were previously used by employers. When something is done well, it is very easy to tell that it was actually well done. This is also true when it comes to the trackers. There are trackers that do not take time to mention accuracy. This could be because they have an issue with giving you accurate results. The best trackers are the ones that use the most advanced technologies, meaning that they are able to detect any change in the keyword rank immediately it happens. When your SEO is perfect, then your handiwork will certainly pay off eventually and your ranks will shoot. However, if a tracker does not detect the change, you end up working for a longer period than necessary. There are trackers that wait until your rank has actually fallen significantly before you get the notification. This is a fatal mistake that any SEO agency should never make. Working with an accurate tracker is the only way to stay safe. When you are choosing a plan, the first thing that you will notice is the overall price. You may end up comparing the monthly prices for all the trackers or between the plans from the various trackers that are available. This means that you could only be concentrating the overall plan. This should not be the case. It is important to scrutinize the price figures further. You should consider how much you would be paying to track a single keyword. Find out how many keywords a plan allows you to track every month before you settle for a plan. You may realize that a more expensive plan sometimes means more keywords, therefore, less expensive than cheaper plans that cover very few keywords at a time. This is one of the things that have been overlooked when a rank tracker is being selected. There is nothing as frustrating as waiting for a tool that loads slowly and then having to wait every time you are loading a new page. If a tracker is not designed well, the lack of good architecture, then becomes a very serious obstacle. A good tracker should be able to utilize all the possibilities to be able to run and load faster. When you do this, you do not end up with delays that can be very frustrating.

What are the Benefits of Using Time and Attendance Software?

With flexible software integration, you can select various clock in/clock out options based on your business type or industry.

For example:

1. Biometric fingerprint clocking
2. Web-based clocking
3. Desktop readers – clocking terminal
4. Landline clocking
5. Mobile clocking
6. Text/SMS clocking

You can easily mix and use a combination of these options as well to meet your standards and business requirements. This way you can effectively track time of remote workers to make sure they are working on site. Self-reporting, spreadsheets, and other outdated methods of timekeeping are unreliable. Employees can misreport the hours they work on purpose or simply because they don’t remember.

With biometric scanner devices, you can automatically register clock in/clock out entries and get all data into one system. Fingerprint clocks have been mostly used by large organizations due to the higher cost, however, with technology improvements, the price of biometric devices has been reduced significantly and became affordable for small business.

Integrated with web-based applications biometric time clocks are now much easier to use. In perspective, this investment will pay off since you are saving money by not overpaying employees and spending less money managing payroll.

How Fingerprint Clock Can Help You Save  Money?

• For example, you have 10 workers with hourly pay $12/hour. It means, 1 minute costs $1
• If each worker is late or missed 1-5 minutes/a day on average, it will lead to $10/day or $50/week minimum overpay in total. In one month it will become $200, in one year – $2400 min.

You could invest this money into your business, right?.

How To Prevent “Buddy Punching”

Another advantage of using biometric time clock systems is to eliminate so-called “buddy punching”.  The problem with traditional punch clocks was their lack of reliability and there was a possibility when an employee was able to punch in on the behalf of another employee.

Biometric time clocks are very accurate and effectively prevent “buddy punching” in order to track the physical presence of employees.

It is Convenient for your Employees

Online Time Clock Solutions are very beneficial for your remote workers. Whenever your employees work from home, travel to other sites or work in the field or in other buildings, they have the flexibility to clock in right from their phones when they start and clock out when the job is done. No need to track time on paper or spreadsheets or make a trip to the nearest time clock device.

This may look attractive for new generation, especially for millennials who value the flexibility to work from anywhere

Another reason why small business owners should consider switching to online time card software is that it simplifies leave request process for your employees.

They can request a day off or allocated holidays with one click using software tools and options.

And business owners can quickly and easily review absences over a period of time. Using this feature, you can identify patterns to absences and make better decisions for improvements.

When you use biometric timekeeping, you can also customize your platform. You can keep track of full-time employees and hourly workers, monitor employees by project or business location. You can create personalized settings and enter work schedules, vacations and paid time off for each employee individually. By using modern tools and integration with 3rd party payroll systems you can automate business processes and focus more on productivity.

By effectively managing employee time and attendance, small business owners are one step closer to growing and scaling their business.

Authored by:

Liana Torosyan

The post Time and Attendance Software Solutions for Small Business appeared first on SmallBizTechnology.

If you’re a regular reader of Small Biz Technology, you’ve probably got a smidge of entrepreneurial spirit in you. This means that you’ve also probably got a bit of creativity in your soul, too. The odds are also good that you would love to find a way to inspire even more creativity, so we’ve got a few ideas that could get a fresh flow of fantastic going.

1. Start moving. Exercise is one of the best ways to inspire creativity. Get your face away from the screen and get your heart pumping. You’ll be surprised what pops into your mind while you’re getting fresh oxygenated blood moving through your veins.

Some ideas?

1. Take a walk.
2. Attend a yoga class.
3. Pump some iron.  
4. Play with your kids at the park.
5. Take a hike.

Go ice skating or roller skating.

2. Attend a conference. Listening to other people talk about their experiences while surrounded by like-minded peers is an ideal way to come up with new ideas. Your neurons will begin firing as soon as the first speaker gets going. And, if you have the means to travel to a conference far from your home, you can get even more inspiration. Check out some of these options:

• Traffic & Conversion Summit in Sunny San Diego, CA (internet traffic, not your commute)
• Podfest in Orlando, FL  (all about podcasts)
• Content Marketing Conference in Boston, MA
• Small Business Expo in Chicago, IL
• South by Southwest in Austin, TX

3. Take care of yourself. A wellness retreat will help feed your mind, body, and soul. In these retreats, you spend a few nights in a luxurious lodge, hotel, or resort where you are pampered to no end. Each retreat has a different focus,  whether its fitness, relaxation, nutrition, or mindfulness. At a retreat, you get to take time away from the stresses and struggles of real life and reconnect with yourself. It can be helpful to bring a journal with you to record all of the creative ideas that will be sparked as your senses are stimulated in memorable surroundings. This are some notable choices:

• Mii amo Resort in Sedona, AZ
• Kripalu Center in Stockbridge, MA
• New Life Hiking Spa in Killington, VT
• Maui Eco Retreat in Maui, HI
• Cheeca Lodge & Spa in Islamorada, FL