Change upward will require technology. Using technology strategically will provide you with a competitive advantage.

You don’t have to be a scientist to use technology to expand your business. Just spend less time on useless stuff like TV and more time on things that can help your business. The material in this article is meant to help you start using technology to expand your business.

Here are some strategies to use technology to grow your small business.

1. Communication technology can lend a hand.

Communication is one of the numerous advantages of technology. This perk allows you to communicate more readily with potential clients and partners.

For example, you may utilize top email marketing tools to engage potential customers. There’s no need to go when you can call. Technology improves communication. You may use a video call to see the other person from afar.

2. Use technology to boost marketing.

If handled appropriately, technology may increase your marketing efforts. However, conventional marketing methods will never be as effective as technology-based marketing strategies. Like social media marketing.

A camper repair service, for example, may use a strong social media strategy to quickly contact new consumers and drive them to their website. Even if you lack education or experience, technology can help you write a business strategy. You can construct unique websites utilizing technology-based solutions even if you don’t know anything about web design.

3. Social networking will be useful.

Social networking accelerates business growth. It connects you to so many individuals from your home. Digital marketing is one of the best methods to use social media for business success.

Working with a social media marketing agency allows you to promote your products and services without having to advertise physically. The internet touches almost every country. So anything you share on social media is worldwide. Social media marketing also allows you to select your target demographic.

4. Remote employment saves on resources.

As a small business, you must save time, effort, and money. A remote office is one of the finest methods to do this.

It allows workers to work from home and will enable you to communicate with them without having to meet in person. If an employee is unable to report to your physical office, they can interact with you using remote work tools.

5. Create a website.

You will need a website to promote your services. So, if you want to develop your business faster, get a website.

Building a website is not enough; it must be adaptable and appealing to potential clients. An effective, responsive website will provide your company with a digital presence. It will also provide credible information about your company to anyone seeking it online.

To ensure that your website is both visually appealing and functional, consider partnering with a reputable b2b web design agency that can create a custom website tailored to your business needs and target audience.

6. SEO is your lifeblood.

It’s not enough to develop a website; it must be seen. Increased visibility attracts more customers, resulting in quicker brand growth.

This is only achievable if you optimize your online content for search engines. If you lack the necessary understanding, you may need to engage SEO specialists.

7. Protect your assets.

While technology might help you reach a global audience faster than traditional methods, it also has its drawbacks. For one, your website may be hacked, resulting in data loss or theft, as well as financial damage.

Securing a reliable internet company will help. Create active firewalls for your website and use encrypted passwords.

8. Use cloud storage.

Don’t keep everything on your PC; shift some to the cloud. Cloud storage frees up disk space and might even speed up your machine.

It can also make your data and files available if you need to view them outside of your office or at a remote location. This way, you have all the information you need at your fingertips.

9. Provide better client service.

Technology can help you noticeably improve customer service.

This may be done by offering live chat services where existing and future consumers can speak with you and receive rapid responses. You may also provide toll-free calling so that your customers don’t have to pay.

10. Automate mundane duties.

Automating duties can also help your small business. Customer service is one duty that may be automated.

Automated messages can address many of the questions customers ask. You may also schedule social media postings. And therefore focus on other elements of the business.

11. Video marketing always attracts eyeballs.

Another option is video marketing. But make sure the videos you create are linked to your products and services.

Search engines will give your website a higher ranking if you have connected videos. You may also share these films on social media.

Bonus Advice!

Content marketing is a great approach to promote your company online. You can submit SEO-friendly material to major websites like E-zine. You may also develop backlinks to connect with authoritative websites. If this is too technical for you, you can always employ an SEO specialist.

The post Use Technology to Improve Your Small Business 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.

Here’s the issue, though: Not all tech is worth your investment. Sure, some tech looks dazzling on the surface, but what if it’s not right for your company? In that case, you’re just throwing money down a digital hole. That’s hardly good for your bottom line.

5 Ways to Choose the Best Tech Solutions

So how do you decide between all those business cloud services, data management software, AI-empowered systems, and more? Take your time and execute some simple planning steps. 

1. Choose tools that will shrink your tech stack.

Do your team members constantly move between programs, losing momentum while manually transporting and searching data? You’re hardly alone. According to Anthem Business Software, the average small company relies on up to 10 different tech tools to accomplish tasks. That’s a lot of logins and probably tons of duplication of effort, too.

Rather than bring one more product (and corresponding logins) into your tech toolkit, search for innovations to help you consolidate your workflows. For instance, a budget-friendly CRM that takes the place of several of your current systems will make life easier on your staff. At the same time, it will reduce the likelihood of human error by removing the need for constant copy-and-paste actions. 

Key Takeaway: A jam-packed tech stack can water down your ability to wow customers and pivot fast. Consolidating tech can give your organization a serious efficiency boost.

2. Consult your growth plans. 

You have key objectives for the future of your organization. Lay them out like a roadmap before diving into any kind of digital transformation project. Even if they’re not presented as formal business plans, they’ll help you see where you want to go. This allows you to begin looking for tech solutions that will help you reach the goalposts you set up along the way.

An example of this might be to grow your customer base by 50% within a year. With more customers, you’ll inevitably need a strong way to support them and turn them into fans. As Gallup figures show, loyal shoppers can be expected to buy 23% more than other shoppers. In this situation, you would want to explore tech to help you provide exceptional service such as AI chatbots, support software, and maybe even a more robust e-commerce platform. 

Key Takeaway: Your growth goals are unique. Make certain any tech you bring into the fold helps you achieve your most ambitious aims.

3. Invest in tech trends with potential.

It can be tempting to put dollars toward the brightest, newest tech solutions available. Even if your stronger competitor uses a specific technology, you don’t have to follow suit. Some tech is trendy but destined for the “fad” heap. Or, it may simply be a dead-end for what you need. 

A good rule of thumb to follow as a business leader is to look, pause, and consider before you leap. Moving all your information to the wrong system could result in more than just temporary headaches. Untethering from a bad tech choice can be tricky depending upon the other systems or workflows it affects. How can you avoid this problem? Put tech tools through mini test runs with limited employees and data if you can.

Key Takeaway: Don’t be taken in by flash and early reviews. Google Glass was once heralded as a genius invention but landed in the failure zone.

4. Ask employees about gaps in their processes.

Your workers know more about what they do on a day-to-day basis than you ever could. Tap into their needs by asking them about their most nagging friction points. What irritates them most? What stops them from being as proficient as they’d like? Where do they feel task-related pinches throughout the day?

After you know which problems haunt your team, you can begin working with them to find the right tech solutions. Let’s say that your human resources department complains about having to answer 401(k) questions all the time. You might empower them to look into alternate 401(k) providers that give better access and education to customers. It might seem like a small fix but could eliminate a clear pain point for your people.

Key Takeaway: Never assume that you know the tech that’s best for your crew. Instead, bring them into any major tech adoption decisions early in the planning stages.

5. Consider custom-built tech solutions.

With new tech products emerging every season, you may think that there’s an answer for every problem. But that may not be the case. Your organization could operate in a way that others—including competitors in the same space—do not.

True, building a tech product from the ground up can be pricey. At the same time, it depends upon what the product is. Working with a partner to create a specialized mobile app for your brand might pay for itself in improved customer engagement and sales. So if you can’t find exactly what you need, stay open-minded about inventing it yourself in-house or with a tech development company. 

Key Takeaway: Though there’s plenty of products for sale, there’s still tech to be developed. Your company might just find itself in need of something that hasn’t been constructed yet.

One thing’s for certain: You can’t afford to let your tech become outdated. Start the process to modernize your tech toolbox now. As a result, you’ll position your company to remain on the leading edge and power your way into the future.

The post How to Search For The Best Tech Solutions For Your Company appeared first on SmallBizTechnology.

Additionally, native advertising platforms support the creation and distribution of ads or paid content that match the form, style, and function of the media in which they appear. By blending into the native content of the target platform, these ads are perceived as being less intrusive and sometimes readers are even unaware of the promotional nature of the post.

Native advertisements are typically presented as in-feed ads that appear in social media, are promoted via search listings, or show up as related content recommendations. They can even be blended into social media platforms, streaming services, and news sites. Oftentimes they get picked up by ad agencies and affiliate marketers.

These types of ads are becoming an increasingly popular format for advertisers. Native advertising can be considered a part of any company’s ad distribution operation. They are often part of a company’s overall content marketing strategy.

The majority of native advertising platforms will offer A/B testing, ad inventory management, affiliate management, AI/machine learning, analytics/ad attribution tracking, audience targeting, automated publishing, behavior analytics, and bidding strategies. Some services offer even more features. It’s worth noting that these types of platforms typically support Cloud, SaaS, and web-based implementations.

Native Ad Networks Can Help Boost Brand Awareness Rapidly

If you’re looking for an effective way to generate increased awareness for your brand, product, or service, native advertising is worth consideration. Native ad networks represent an opportunity that can provide a lot of bang for the buck. Listed below are nine of the top native ad networks.

1. Taboola

Taboola has a global reach of 1.4 billion monthly visitors, approximately 44.5% of the global population of internet users. Roughly 50% of Taboola’s traffic comes from countries such as the United States, UK, France, and Japan. Taboola partners with 10,000+ top websites including Fox Sports, NBC, USA Today, Business Insider, Bloomberg, MSN, CBS News, etc. Their ads are delivered as recommended content and in-feed content across partner platforms.

2. Outbrain

Outbrain ranks among the top three native advertising platforms in the world. It currently boasts a reach of 1.2 billion monthly visitors. The company partners with premium publishers across different countries including the United States and UK, delivering ads in the form of recommended content, in-feed, search, and promoted listings.

3. MGID

MGID has been in the business of native advertising for 12 years. It’s ranked among the top three advertising networks in the world and MGID’s reach equals 850+ million unique monthly visitors from the web. MGID partners with top websites and blogs around the globe.

4. Revcontent

Revcontent delivers native ads in the form of recommended content and in-feed content across premium publishers such as USA Today, Tribune media, Nasdaq, and the like. Their ad inventory encompasses e-commerce, finance, health, beauty, and politics. 50% of the companies’ traffic comes from the United States and UK.

5. Yahoo Gemini

Yahoo Gemini has a reach of over one billion unique monthly visitors, with 50% of their traffic coming from the United States, UK, and France. To begin advertising with Yahoo Gemini, applicants need to have a minimum of $25 deposited in a Yahoo ad account.

6. Admixer

With over 10 years of experience, Admixer is another veteran in the native advertising industry. Their ads are delivered as in-stream, in-article, native display banners across top publishing platforms.

7. Plista

Plista partners with over 1,500 websites around the world. Approximately 80% of their traffic comes from Germany, Poland, Russia, and Australia, so this distribution makes Plista appealing to advertisers who are interested in driving high-quality traffic from these countries. The company charges clients using a cost-per-click billing model.

8. TripleLift

According to their business statement, TripleLift promises to help advertisers generate 3x higher brand awareness and consumer purchase intent. TripleLift targeting is based on country, region, browser, operating system. They partner with top publishers such as USA Today, BuzzFeed, eBay, BBC, and the like.

9. Nativo

Nativo boasts approximately 220 million unique visitors from the United States alone. This makes Nativo one of the top native advertising platforms for targeting audiences in the United States, UK, and Canada. Nativo further targets audiences based on country, device, region, and operating system.

Native Ad Networks Can Help Cut Through the Noise

In today’s media-saturated world, native advertising should be a pivotal part of every successful marketing strategy. Native ads mimic the surroundings in which they appear. This makes sure your message is delivered as discreetly as possible and allows you to catch and hold a user’s attention.

There are many native advertising networks out there, so doing some research is definitely in order. The nine listed above are the top networks you can trust to help you get your brand message in front of your target audience. Depending on your niche, you stand a better chance of converting and generating quality leads when ads are not perceived as interruptions.

The post Native Ad Networks: Top 9 Services for Advertisers and Publishers 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.

This helps explain the growing reliance on outsourcing. In 2019, roughly a third of small businesses already outsourced some business function, and 52% were planning to do so. In 2021, the number of small businesses planning to outsource has shot up to 80%. 

Outsourcing is perfect for growing companies because it offers extreme flexibility, saves time, and allows you to work with top experts without the hefty price tag. Of course, you should never outsource anything related to your competitive advantage. (If it’s your stellar service that sets you apart, for instance, you would never want to outsource customer support.) 

But there are certain core functions that every company must handle — things like accounting, legal, marketing, and cybersecurity. Certain businesses may also need to deal with shipping and fulfillment or data entry — things that keep your business running but don’t impact your end product or service. 

According to Gregg Landers, director of growth management at CBIZ MHM, there are a few categories of tasks that are ripe for outsourcing: tasks that require a high degree of skill or specialized knowledge and highly repetitive tasks.

Here are four areas you should consider outsourcing to cut costs and see better results:

1. IT Training and Certification

If the pandemic taught us anything, it was the value of a highly competent IT department. With many teams still working remotely, you need to ensure that your IT person or team has the training they need. But trying to do that in-house is simply not cost-effective. According to a survey of learning development professionals, it takes an average of 132 hours to develop a single hour of online learning content. That’s more than three weeks’ worth of work!

This is why it’s better to invest in third-party training and certification programs. Outsourcing your group training to a company such as IBEX Business Experts reduces costs and ensures that your team is consistent and unified. You can choose instructor-led courses or virtual learning so individuals can work at their own pace.

2. Business Accounting

Any business that hopes to stay in business needs the help of a bookkeeper, accountant, or both. You need someone to keep your records up-to-date, track expenses, run payroll, file quarterly reports, and do your end-of-year taxes. Trying to manage all these tasks yourself is a recipe for disaster — or at least an audit. You may also want someone to do an in-depth analysis of your business or help you with financial planning, but that doesn’t mean you should hire a full-time CPA.

In the United States, the average base salary for an accountant is $54,127. That’s not counting bonuses, healthcare, and other costs that come with a salaried employee. Then there are the hidden costs of training and management for an in-house accountant. For most small businesses, it’s much more cost-effective to outsource this role. You can use software like Gusto for payroll and pay a licensed CPA to do your taxes, or you can work with an accounting firm to handle all these tasks.

3. Outbound Sales

If you’re trying to grow your business quickly, you’ll need to scale your sales team. The trouble is that it’s extremely difficult to develop a repeatable sales process, find the right talent, and train them to be effective team members. Hiring aggressively is also risky — especially in sales, which has the highest turnover rate of any sector. It can be devastating (both emotionally and financially) to invest weeks or months in training only to see those people leave.

A more sensible approach for many businesses is to outsource certain sales roles, such as outbound sales or business development. Outbound sales encompasses tactics like cold calling or emailing, attending trade shows, and selling door-to-door. Hiring a third-party company to do this for you will give you a steady influx of new leads while freeing up your in-house reps to do more high-value work. Because they know your company inside and out, they’re best suited to develop those relationships and close deals.

4. Marketing

Marketing is a broad term for a highly specialized and complex industry that changes each and every year. The type of marketing you should be investing in will depend on your business, your budget, and your target market. 

For instance, if you’re an online retailer, you may need to invest in pay-per-click ads, social media, influencer marketing, or all of the above. If you’re a service-based business with a long sales cycle, inbound marketing might be your focus. If you’re a mom-and-pop shop that only serves customers locally, you might focus your attention on search or on traditional media channels.

The kicker here is that your marketing tactics should change if you’re not seeing results. Hiring a full-time marketing person is risky because no marketer is an expert in everything. If you hired someone on the assumption that you’d be creating bus-bench ads and direct-mail pieces, that person is not likely to be as effective if you shift your budget to SEO and paid search. Unless you’re planning to build out an entire in-house marketing team, you’re nearly always better off hiring a firm that specializes in whatever tactics you’re pursuing.

As your business grows, it can be exciting to imagine what you could accomplish if you only had a team member dedicated to X. But outsourcing business functions that aren’t your core competency is almost always a better choice. It allows you to work with the top professionals in the industry — without paying their entire year’s salary. It also means you can invest in talent that can help you grow your business faster.

The post 4 Key Business Functions You Should Consider Outsourcing appeared first on SmallBizTechnology.

Talented people live all over the world. The trouble is navigating the legal, managerial, and cultural hurdles to find and hire them. You’ll learn quickly that you aren’t in Kansas anymore. 

Don’t let distance be a barrier. When it’s time to expand your operations beyond U.S. shores, use these five tips to hire the international team members you need:

1. Partner with a Global Employment Solutions Provider

Different countries play by different rules. You need to find a global employment solution provider who knows how to operate in your expansion locations. 

An international employer of record (EOR) allows you to legally and indirectly hire team members in other countries. It’s responsible for compliance with labor laws, benefits administration, global payroll, and tax withholding.

Look for an EOR that does more than just handle the paperwork. Any EOR worth its salt makes employees feel like they’re on the “A” team through cultural support and managerial consulting. 

Avoid EORs that charge a percentage rather than a flat fee. EORs with percentage models will make you want to pay your foreign employees less to keep your costs down. 

No matter where you are in the world, better pay and benefits attract better employees. Particularly if you’re hiring for leadership or technical positions, skimping on compensation is a good way to shoot yourself in the foot. 

2. Hire Employees, Not Contractors

It’s tempting to just pay a contractor in another country to work for you. But there are a lot of reasons why hiring employees is a wiser choice.

For one thing, your company will generally bear more of the compliance burden than the contractors it employs. For example, if you aren’t compliant in your classification of the contractor, you pay the fines and penalties. 

Using contractors can also increase the risk of intellectual property issues. In some countries, the contractor could wind up owning some of the IP that he or she creates on behalf of your company.

If you’re going to engage a contractor regularly, hiring them as an employee is probably more cost-efficient as well. Plus, the people you hire will appreciate the consistent pay and benefits that accompany employment. That benefits the employee, of course, but also creates a more cohesive and deeper company culture for you.

With that said, there are times when hiring a contractor makes more sense than hiring a full-time employee. If you just need a logo designed, for instance, then it probably isn’t a good idea to employ the designer. Look to your EOR to help you weigh the pros and cons.

3. Don’t Assume Domestic Agreements Will Work

Toss that boilerplate employment contract or non-compete agreement you use at home when expanding abroad. Categorically, home and international versions might be similar. But the details will differ, often substantially.

It’s critical that you have contractor and employment contracts, non-compete and non-disclosure agreements, and agreements designed to protect your IP. But they all need to be drafted to comply with local rules and laws to be effective.

Courts can and often do throw out contracts over a single clause. Beyond that, legal representation can be expensive and difficult to find in a foreign country. 

Your EOR should have employment attorneys in your expansion country. They can make sure all the i’s are dotted and the t’s are crossed, no matter the local language or the law.

4. Preboard Before You Onboard

The COVID-19 pandemic revealed that working remotely can be challenging for both the employer and for the employee. This is doubly true for remote work conducted across international borders.

Be diligent. Consider not just communication with remote workers, but data security, local infrastructure, and cultural differences. You don’t want to find out that your employee can’t use their company computer because its plug won’t fit into local wall sockets, for example. 

The good news is, many preboarding best practices should be familiar. Set realistic expectations for the role. Provide opportunities to meet regularly with management. Discuss what data is sensitive and how it should be handled. Talk through any limitations on their access to company infrastructure and information.

The best way to prevent post-hire surprises is to do your homework on the front end. It’s better to find out that a relationship won’t work early than after you’ve integrated a new team member into your workflow. 

5. Speak the Language

Speaking the language of international employees means more than speaking their actual language. It also means developing a corporate culture in sync with a country’s cultural norms.

You need to be aware of any cultural taboos so you can avoid accidentally insulting or offending one another. For example, avoiding eye contact is seen as a sign of respect in some foreign countries. But in the U.S., it’s viewed as rude or a sign that someone is lying. 

Ignorance of cultural norms is not a defense. Constantly pleading with each other for forgiveness is not a productive working relationship.

Provide one-sheeters to each remote team about the cultural tendencies of each country in which you operate. Convene an ice breaker session to get to know each other and discuss potential points of friction. Getting cultural differences out in the open is the surest way to prevent feelings of resentment from festering. 

Another component of speaking the language is choosing your communication tools wisely. For example, some domestic phone plans cannot send or receive international SMS messages. Slack, on the other hand, is used around the world for team communication. 

When in doubt, ask: How would your international team members prefer to communicate? Are there things that you say or do that frustrate them? What sorts of compliments motivate and inspire them? 

Expanding internationally is a big, exciting step for any startup. Success or failure is going to depend on your ability to recruit, hire, and retain great employees. That’s just as true in China and Canada as it is in Kansas.

The post 5 Tips for Startups Hiring Internationally 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.

Until now, most companies have only relied on automation for sales and marketing. Automatic sales and marketing campaigns free up a lot of time and resources for content creation and other internal departments.

With that said, automation can do so much for your business. Just take a look at this list:

Integrations

In the digital age, your business likely uses a number of programs and online tools, not to mention the list of automation that you might be implementing soon after reading this. Wouldn’t it be great if all of those tools were built into one? While there’s no one-tool-fits-all, you can use automation to put your programs in better sync together.

Companies can use an iPaaS, or Integration Platform as a Service, to build integrations between their programs. For example, you can set up your team’s communication software to automatically upload shared files and images to your email. 

Simple steps like these save a lot of time in the long run, and can be completely customized to fit your company’s needs. Start with a few integrations and then build up as you get the hang of the process. The more tasks that can be automated, the more focus that can be diverted to larger and more complicated projects.

Payments

Humans have to keep track of a lot of bills, payments, and card information. Miss a payment because of the complicated mess of finances, and an unfortunate penalty will ensue. Automation not only makes it easier for businesses to receive payments, but for customers to keep their finances in check.

Automated payment software takes recurring payments as they are due. This is helpful for companies that work off of subscriptions, or those that provide monthly services, such as utilities for house cleaning. As long as there are sufficient funds in the account for withdrawal, the process is as simple as can be for both parties. 

More complicated payments can be automated as well. A company that uses contracts to bind sales can use digital signatures to automatically gather commitments from customers online. Set up an entire sales system this way, and deals can be signed, sealed, and delivered in no time. 

Hiring and Recruiting

The recruiting process is long and expensive. Choosing a candidate from a pool of hundreds is a daunting undertaking. Luckily for HR managers and recruiters, automation can improve this process as well.

Algorithms can scan resumes, picking out keywords, alma maters, and work history in seconds. This organizes candidates quickly and effectively, allowing recruiters to narrow down their selections as soon as resumes are submitted.

The one drawback to automatic resume scanning is that some programs rely too heavily on keywords. You could overlook an incredible candidate who simply doesn’t have the experience of your other applicants — but does have the soft skills needed to develop quickly and remain loyal to the organization. With this automation, be sure to give outputs a second glance.

Analytics

If your business isn’t incorporating data into its strategy, you’re already a step behind the competition. Data is gold in today’s business landscape, providing insights that can transform your organization into an efficiency powerhouse.

The amount of data your business produces each day is astounding. In fact, it’s practically impossible to scour through it by hand and pick out anything you can use. To take advantage of your data, you need automated tools.

Automations such as ETL tools extract data automatically. They use triggers to transform and load the information into storage systems for your viewing pleasure. Use this data to define target audiences, tweak supply chains, and even alter product prices.

Customer Service

Seventy percent of customers will stop doing business with a company due to a poor service experience. With that in mind, your customer service strategy should be important to you. The better you care for your customers, the higher your retention rates and the more referrals you’ll get.

Some large corporations run an entire office of customer service agents who field calls and messages all day. Small businesses typically can’t afford that. They can only answer questions in person or when someone is available to respond.

For companies large and small, automation can bridge the gap. Setting up a customer service bot on your website is simple. This bot can answer frequently asked questions and direct customers to the products and pages they’re looking for. This simple addition will boost your customer service around the clock.

Data Security

Bank robberies are so 1800s. Today, you need to be on the lookout for hackers and pirates that try to attack you from the inside. Digital information is extremely valuable and much easier to swipe.

Even with a dedicated IT team, your security posture could benefit from any help it can get. Automations like firewalls thwart attacks around the clock. Breach notifications can point out problems the moment they occur. 

Are you sold on automation yet? Give it a try. Start with iPaas to streamline your workflow. Then, try out automations that can revamp your strategy and security. You won’t be sorry.

The post 6 Areas Besides Sales and Marketing Where Automation Wins appeared first on SmallBizTechnology.

To be sure, you don’t have to rise to the fame of a Mary Kay Ash or Zig Ziglar to be a sales phenom. Plenty of salespeople across the world land tons of deals, build loyal connections with customers, and solve buyers’ biggest conundrums. You may not know their names, but that doesn’t mean they’re any less successful. 

Here’s the dirty little secret, though: The majority of sales folks aren’t utilizing all the tech at their fingertips. As a result, statistics culled by Forbes suggest that most sales experts sell only 35.2% of the time. The rest of the time, they’re pushing papers, engaged in redundant activities, and not bringing in revenue. 

The bottom line is that even the most prolific seller probably has room for improvement. And there’s no shame in wanting to get better. So why not embrace the technology that can help you rev up your conversations? Or reduce the risk of being ghosted by a top prospect?

Below are four tech stack must-tries to impress your boss and win over resistant buyers.

1. Close deals seamlessly with virtual proposals.

Remember the days of sending your client a proposal, waiting for the client to make adjustments, and going through the process ad infinitum? (Those days might have been as recently as this week, to be honest.) Every time you make your prospect jump through a hoop, no matter how minuscule, you risk losing momentum.

What’s the way to close this gap for good? Leverage proposal and contract processes that automate the system on one platform. PandaDoc, an all-in-one document automation software, notes that requesting proposals the old-fashioned way needlessly extends your close rate. In other words, you waste precious days and weeks trying to get the final go-ahead. Plus, once you’ve built a proposal on paper, how easy is it to change on the fly? In most cases, it’s not easy at all.

The way to fix this issue is to find a software-as-a-service (SaaS) provider like PandaDoc that offers the ability to manage your proposals and eventual contracts in one location. Having documents available to everyone who needs to know—and make changes effortlessly—transforms the proposal experience. It also shortens the sales cycle by reducing buyer barriers to acceptance.

2. Add robust templates to your tech stack.

Have you ever found yourself writing the same email again and again? Sure, you might change a word or two here and there. But the gist and tone remain similar. These are documents and correspondence that you could automate with software.

What’s the value of having dozens of templates? With the right system, you can deploy your templates quickly across omni-channels. Have a prospect who prefers text? No problem. Your template can be revamped to look great on a phone. Dealing with someone who’s a social media user? Send DMs and get noticed.

Not sure you want to invest in more tech software? Even if you just keep a catalog of templates on your centralized knowledge system, you’ll be ahead of the game. As a side note, you don’t have to lose the individual touch. In fact, you should focus on personalization because it’s what 80% of participants in an Epsilon buyer study said they want. Templates can be constructed with “holes.” Fill those “holes” with customized messages and foster connections without losing precious hours re-typing content.

3. Invest in a truly modern customer relationship management (CRM) system.

Why do so many salespeople rave about CRMs like HubSpot and Salesforce? The companies have made it their business to lead the CRM industry. They’re continuously adding new solutions to their platforms, including AI-driven tools.

Feel as if your outdated legacy CRM gets the job done? That may be true. However, it’s worth investigating state-of-the-art CRMs. Sure, it’s understandable to want to hold onto your CRM because you know it. No one likes change. Still, it might not be the right answer anymore.

Newer CRM platforms aren’t just clearinghouses to hold prospect and client information, either. The top ones allow you to analyze customer behaviors, set up regular messaging based on where a customer is in the sales funnel, and perhaps listen socially. Unless you’re 100% sure you have a CRM that truly links your organization’s marketing, communications, service, and sales teams, you’d be wise to investigate what’s on the market.

4. Increase your sales prospecting IQ.

The more intelligent your sales prospecting, the less arduous it is to uncover truly qualified potential clients. AI has helped sales technology become savvier, moving way beyond just grabbing prospects’ personal and business information from the web.

How does sales intelligence work when buoyed by technology like AI and machine learning? For one, sales software can crawl the Internet, looking for potential prospects based on your company’s past purchases and historical information. The software can then deliver target personas to specific sales team members. Even if the sales team has to evaluate the information by hand, everyone will save time.

Sales prospecting software can also help you scrub and update information, much of which will be outdated in about a year’s time. Remember: These are processes you would have to do yourself or ask someone else to do on your behalf. If a program can do it just as well, why not let it?

Prospect.io even suggests that sales prospecting should include a deep dive into data about the sales that turned you down. This way you can get a better understanding of why, and what to do better next time. 

Sales will always be about relationships, and tech can help you finally have the time to build connections. So why wait? Stop spinning your wheels and start generating long-term ties.

The post 4 Types of Sales Tech You Shouldn’t Sleep On appeared first on SmallBizTechnology.

You might be asking yourself why you should write on someone else’s website. The answer is because guest posting offers huge benefits for you and your company. You can follow cherryscustomframing for guide to be  the productive blogger. A few of the top benefits are listed below.

Immediate Exposure to Your Targeted Audience

By writing for well-known websites, you will have the opportunity to add a link to your website, lending credibility to what you say and the services you provide. Because of this, you will be able to better reach your target audience. If you have written a good quality post, you can receive a huge amount of traffic back to your site.

Gaining website traffic to your online business or a blog is really important for sales to increase. And doing something as simple as guest posting shouldn’t be seen as a time-consuming activity if you get amazing results for your company in return.

Builds Trust of Your Brand in the Industry

If you want to build your expertise in your industry, guest blogging will allow you to reach more people, which in turn will help them learn about and trust in your brand. Sharing what you know on a topic with valuable facts strengthens how others see your content.

For example, millennials don’t trust in brand ads anymore. In order to target that audience, you can write great content, thus building authority and trust in your company.

Helps In Building Relevant Backlinks

The importance of guest posting services also comes back to your website’s presence on Google. The more you guest blog, the more links you get back to your website, and the more easily people will find you.

It would help if you also make sure that you are specific with your information to have relevant backlinks. Context plays an important role in your writing, so ensure that your guest blogging is straightforward and sensible for you and the site owner.

Brings Awareness To Your Brand

Another great benefit that guest posting can bring you is producing an awareness of your brand. After all, people put money on something that is visible to them online. With so much completion out there on the internet today, it is highly important to have guest blogging on your side so your brand can reach out to as many people as possible.

You can start by writing for a few websites to create a name of yourself and stay relevant, so no one forgets your name, thus impacting your brand awareness.

Offers Constructive Feedback from the Community

When writing a blog post on other sites, you can be exposed to comments and feedback people leave. That is a great benefit for you because it can help you build strategies and ideas according to what the audience likes or dislikes.

People online often share their views and experiences in the comments section of a well-written post. This actually means that you have access to unbiased, constructive feedback. Get more info at millsriversdaschool .

Gets Your Brand On Social Media

The use of social media is a great additional benefit of guest blogging. You want your brand to reach as many people online as possible and social media places a huge part. One thing that helps you is signing an agreement with the blog you are writing for that you will share their website on your social media account if they do the same in return. 

Also, people sharing your content on the website like Twitter and Facebook can create a great chance of gaining new followers and visitors on your post, leading them to your website.

Each advantage that was shared with you today works in the benefits for you and your brand, so why not look for guest posting to increase the awareness of your brand or company. 

The post Top Benefits of Guest Blogging appeared first on SmallBizTechnology.

1. Utilize your best content in many forms

If your latest eBook has proven to be a best-seller, consider turning the chapters into a series of podcasts. Not only will you increase the reach of the content, but you’ll also make it more accessible to people who don’t have the time to read. In the process, you’ll enrich your brand’s and business’ digital footprint.

2. Emotionalise your connection

The ultimate prize in marketing is the creation of an emotional connection with customers. Podcasting makes your brand voice audible, and it leaves a deeper, bigger impression on your  listeners. Your sincerity and commitment can be communicated in a way that really sticks with consumers.

3. More time with your target audience

With a captivating tone of voice, you can hold on to your target audience’s attention longer. As with any text-based content, the chances of readers just skimming through the content is high. With podcasting, you have a silver bullet to hold on to their attention and spend more time with your target audience because of your voice. Using a variety of pitches and tones, you can take the ‘boredom’ out of going through content with podcasting, which creates more opportunities for you to be listened to.

A podcast is another way you can bring in revenue. All of the above play vital roles in ensuring this desired outcome, and additional tips for how podcasting can generate revenue are included below.

Paid content

Once you’ve established your authority in a given area, you’ll have the bandwidth to charge for future podcasts. In a way, it’s monetising the trust people have in the quality of your thoughts and ideas.

A selling platform

Your podcast can be a platform to sell products and services. For example, if you’re a motivational speaker, you may choose to sell a leadership course or live webinars.

Distribution

If your podcasts have established a reputation as an authority on online selling, don’t be surprised if an eCommerce giant seeks the right to distribute your podcasts on their platform. After all, it’ll work in their favour, too.

Podcasting is a rapidly growing business. To get started, these are the three basic pieces of equipment you’ll need.

1. Condenser Microphones

You’ll need a dedicated condenser microphone since most standard computer microphones aren’t good enough.

2. Studio Headphones

It’s essential to ensure the quality of your recording. Poor sound quality sits right next to poor content in poorly performing podcasts.

3. Audio editing software

It’s the final piece in ensuring you’ll be heard. For a start, you can download free programs available online.

If you are new to podcasting, you can consider getting podcast packages and bundles to get started on your podcast journey and see real growth in your business.

The post Increase Your Business Revenue With Podcasting appeared first on SmallBizTechnology.

Greater possibility for expansion

You may currently think that your business is in a good place and operates in enough locations, but there can always be potential for expansion. You might think that in your country your company has plenty of room to grow, but considering the competition you might find yourself up against, you’ll always be able to look abroad to find countries where the competition is potentially less stiff to get a hold on a greater market share. However, in order to really seize these opportunities, you’ll need to have a robust translation service available to you.

When moving into another country, if your operations don’t assimilate to the language of your host nation, you’re almost doomed from the start. People will automatically drift away since you won’t look like you’re making an effort, and that will make it difficult to build up a base of both customers and employees from which you can expand your company. By comparison, a good translation service may endear you to the locals, helping you to build up more loyal customers, establish something of a base and then expand from there. With professional language translation, expansion to foreign countries will feel just the same as expanding into another part of your home nation.

Strengthen your online presence

Many companies have become more reliant on using the internet as a source of business, especially when more people are working from home and ordering their goods online. When you’re working online, there’s nothing limiting you to getting business from your home country. Although shipping times are better with domestic companies, ordering from companies around the world means that you can hunt for the best possible prices. Customers are starting to realize this, and these are customers that could be tempted into your company’s ecosystem.

As a business owner, this means that the days of only catering to one country are over. By failing to provide language options for multiple countries, you’re missing out on the opportunity of a lifetime, with potentially millions of prospective customers completely going over your head. Professional language translation services can help you convert your monolingual website into one that allows people from all over the world to look into your company and find the best deal they can. Opening up your website to people that might not speak the same language is always a good idea, and by failing to do so, you miss out on potentially thousands of sales every single day.

Document translation

When you’re going through business dealings with people from around the world, you can often receive and need to sign documents in other languages. Whilst in all likelihood you’ll never experience a business partner that acts in a malicious or inappropriate manner, it’s always good to be prepared. By signing a contract that you don’t properly understand the repercussions of, you could end up in breach of contract and in a situation which leaves you vulnerable to legal action. Whilst the other uses of translation listed here are based around limits on your prospective growth, this is a case of needing to guard against a fundamentally damaging action in the future.

One of the best ways of resolving this issue is by using professional language translation. Professional translation means you can properly understand the terms and specifics of any documents that you might need to sign, giving you the peace of mind that you need to do business in countries abroad without worrying about the potential for impending legal battles. Furthermore, this will really help with expansion since you can build internationally, with contracts from suppliers and producers, without worrying.

Ultimately, professional language translation can help you at all levels of your business. If you’re a growing and developing business, you’ll need translation for reassurance of your legal standing and to boost your company internationally. If you’re a business with aspirations for high levels of growth, using professional language translation services is a must that will put you in good stead not just nationally, but on an international level. Staying domestic can cost you, so use translation to help take you to the next level.

This business improvement article is shared by language professional Jaz Margate from Translationservicesmy.com.

The post 3 Benefits of Professional Language Translation for Your Business appeared first on SmallBizTechnology.

While there is a lot you can predict and plenty of articles to read, it’s probable that there are some aspects of entrepreneurship you’ve overlooked. Let this article be your helpful reminder of the complexities that often go hand-in-hand when launching your business off the ground. Here are five lesser-discussed things you need to account for when starting your business. 

1. It’s not often a straight shot to success

Success in a new business is often viewed on the outside as a linear trajectory. New business owners who start with excitement picturing this predictable growth pattern are more often than not disappointed. Too many new businesses start without a contingency plan for what to do in the event something goes wrong. What will you do if you have a slow few months, backtrack after six months, or if it takes a full year of losses before you’re profitable?

There is a chance you’ll be profitable straight away, but it’s also possible that you won’t be. Plan for that in advance.

If you’re a service-based business, what will you do if clients don’t pay you straight away? Is it going to create a cash flow problem?

Take some time to think through how things could not go as expected and decide how you’ll handle it ahead of time. In the event the worst happens, you won’t panic because you already know what to do.

2. Bookkeeping should start right away

Even if you are simply making a domain name purchase with no other planned expenses for another month, it’s important to start bookkeeping right away.

Small business owners often get so caught up in the product/service creation and sales process that the more mundane tasks like Bookkeeping perth or looking into pre paid business cards often get left to the wayside. Small business owners wear many hats at the beginning of starting a business, but to be successful, money is the most important part. Understanding where it’s going and where it’s coming in (staying on top of expenses) will help you prioritize and keep a lean operation. Consult a small business accountant if you’re not sure how to do it, or if you simply haven’t got the time.

How much does it truly cost you to obtain a customer? What is the lifetime value of that customer once you’ve got them on board?

These questions are going to be crucial in running a successful operation and you need to know them inside and out.

3. There are many variable costs to consider

If you’re starting your business today, you’re already aware that you’ll have fixed costs to get going. Whether that’s the purchase of a new computer, a printer, a building you’ll lease, or an electric bill you’ll pay.

But have you considered some of the other costs you’ll face?

If you’re going to accept credit cards (which you absolutely should) you’ll pay anywhere from 2-4% of your gross revenue in average credit card processing fees for that privilege. You may also be subject to business license and registration fees, insurance premiums, and self-employment taxes. These types of payments and risks should be considered carefully so you know how much it really costs to get started. 

4. You are not your target market

The best businesses solve a problem, and many entrepreneurs are inspired to solve a problem in their own lives. While this is a valid and popular way to find an idea, it doesn’t immediately mean it will be a success.

You are not your target market. There needs to be someone else out there who also believes it’s a problem and they need to believe it can be solved in the way you plan to. Validate your problem and your solution through target market research. Maybe your problem isn’t widespread enough to be a viable business. Maybe the solution you’ve created isn’t the best way to solve it.

Target market research is crucial to ensure your business idea has a market.

5. You don’t have to have it all figured out to get started

Many people are afraid to start a business because they don’t have the answers to all of the potential questions they could face. While there’s merit to doing research of course (if you’re reading this, you already know that), but there’s also a lot to be said for just digging in. You’ll figure out what you don’t yet know very quickly.

By starting with a lean and flexible operation and digging into the trenches, you’ll quickly see what works, what doesn’t, and where you should pivot or optimize for the best results. There are so many things ahead of you that even the most well-prepared entrepreneur can’t have it all figured out. And that’s ok. You’ll learn as you go, gain skills, make mistakes, and find your way much quicker if you get started. See what resources are available to you. Enlist the help of human resources software to help you manage your staff. Rome wasn’t built in a day and no one is a master of all areas when it comes to launching a business.

Concluding Thoughts

Starting a business is not for the faint of heart. There are many twists, turns, surprises, and exciting moments ahead. While it’s important to do research and understand what you’re really getting yourself into, it’s equally important to dig in and get your hands dirty. 

A perfectly planned business simply does not exist. A business executed imperfectly is far better off than the not-yet-started one waiting on the sidelines. Don’t wait for that perfect moment or else you’ll never start.

The post 5 Things to Account for When Starting Your Business appeared first on SmallBizTechnology.

When looking for a scheduling app, you’ll come across a variety of options. Each one serves a similar purpose but has unique strengths and weaknesses. You’ll have to keep this in mind as you determine which app best fits your needs.

Two of the best scheduling apps on the market are Calendar and Calendly. As industry leaders in the scheduling and online calendar field, they should be the first two options you consider. Today, we’re going to be comparing Calendly to Calendar to help you make the best decision on which scheduling app makes sense for you to use for your business.

This article will dive into both Calendar and Calendly, comparing their features so you can select one for your own use.

Calendar

An industry leading online calendar, this app provides features not just for managing time, but for mastering your scheduling techniques. The ability to do both makes Calendar a powerful and capable tool.

Scheduling Links

Back and forth emails determining meeting times can take up more of your day than you’d like to admit. A much easier way to schedule meetings and interviews is with a scheduling link.

You can set the hours and days you are available in Calendar for an upcoming phone call or meeting. Calendar then provides you a link to send to others. Through that link they can request one of your available time slots, making it much faster and easier to schedule appointments than ever before.

Meeting Suggestions

There are two problems that scheduling links don’t solve on their own: meeting location, if applicable, and group meetings. 

It can take a long time to come up with a meeting location. As a solution to this problem, Calendar makes recommendations for you, so you can spend more time on important projects and less time looking up lunch spots that are equidistant from both parties.

You can’t send a scheduling link to a group of people, as their availability and preference might differ from the rest. So, Calendar also makes time suggestions that work for everyone according to their Calendar accounts.

Event Creation

Calendar uses AI to make event creation faster and better than ever. It learns your tendencies in order to make suggestions that speed up this process in just a few clicks.

Other useful tools include time zone recognition and calendar syncing. You can easily coordinate with people around the globe, and have it all match up with any other online calendar you use.

Calendar Time Analytics

The crown jewel of Calendar is its time analytics tool. The purpose of a calendar is to organize your time and ultimately use it more efficiently. That can be hard to do without the data Calendar provides.

With time analytics, you can see exactly how much time you spend on each activity. This gives you a concrete look at how much time you spend in meetings, traveling, and looking through emails. Just record your activity in Calendar and it will do the math for you, presenting it in captivating, easy to view graphs.

Security

Calendar authenticates each and every calendar in its system. When you have a team, your team can’t see what’s on your personal calendar and you don’t have to share your personal appointments with your team. Your work calendar and personal calendars are 100% secure and separate.

Keeping your personal account secure is one of Calendar’s biggest emphases. Thanks to its continued efforts on security, you can focus on other things. Take comfort in knowing that all your team can see are the time spots on your calendar that are blocked out.

Pricing

Calendar has two packages, one for individuals and another for teams. There are free options for each with only the essential features. Teams cannot exceed 10 members in the basic package, but can reach up to 200 members in the paid version.

Calendar offers discounts for its paid plans when purchased annually. For individuals, the Pro version is $8 a month when purchased annually, or $10 a month otherwise. For teams, the price is $6 per person when paid annually or $8 per person on a monthly basis. 

Calendly

When you rely on meetings, you can feel stressed about fitting everything into your schedule and fulfilling all of your commitments. Calendly takes a load off your shoulders, making it easier to schedule your meetings and fit them all in with zero stress.

Scheduling Links

While Calendar finds its strength in security and time analytics, Calendly prides itself on top-of-the-line scheduling links. This tool helps you create and organize multiple meetings without breaking a sweat.

Calendly gives you a lot of flexibility with your scheduling links, including buffer times to prevent meeting overlap and a meeting cap so you don’t get overwhelmed in a single day. Notifications remind meeting participants of commitments and also prevent last-minute meetings from being scheduled. 

Meeting Flexibility

Not all meetings are created equal. Some will be one-on-one while others will be in groups of various sizes and functions. You’ll need a scheduling tool that can fit every type of meeting, which Calendly can do for you.

Calendly offers four different meeting plans;

1. One-on-one: Lets a single invitee to schedule an appointment
2. Round robin: Automatic meeting distribution based factors such as availability and priority
3. Collective: Allows an invitee to schedule a meeting with multiple team members
4. Group: Multiple invitee hosting for events such as webinars and training

Each works with a specific goal in mind, matching your meeting needs perfectly. Each meeting type has its merit, and it’s nice having a scheduling tool that caters to every possibility.

Pricing

Calendly also offers a basic package that’s free for all users. While limited, it’s a great start for new users. It’s important to note that you can only create one calendar under the basic package, and most of the integrations are unavailable.

Two paid programs are available for extra scheduling power. The Premium package is $8 per month when paid annually or $10 per month per user. This gives you access to two separate calendars as well as numerous integrations and customization options.

The Pro plan is all-inclusive, with every feature made available. Pricing starts at $12 per month when paid annually or $15 per month per user.

Integrations

An online calendar won’t be the only tool you need. There are a multitude of apps and programs to help you operate your business and manage your time. When these apps work together, it makes things that much easier for you.

Calendly realizes this, which is why it has enabled integrations with apps such as Zoom and Salesforce. This takes out the extra steps needed to run your meetings and go through your day. It also connects to your online calendars, so you won’t get dates and times confused and crossed over.

Team Features

Scheduling tools aren’t just meant for the individual; they can also be used by your entire team. Calendly added some additional features to help your team get everything done. 

Team pages make it easy for everyone to be in contact with one another. Other features include centralized billing, scheduling metrics, and reporting. Leaders can use these tools to further manage their teams in various ways. 

Both of these apps have great qualities which will improve how you approach scheduling. Compare and even experiment with both so you can see which fits your needs better. Doing so will optimize your time, and unlock more opportunities for you and your business.

The post Calendar vs. Calendly: Which Scheduling App Makes Sense For You appeared first on SmallBizTechnology.

Below are several types of technology that will make handling finances less arduous and more intuitive.

1. Accounting software

You could try to keep your operational books the old-fashioned way with pen and paper. Or, you could generate spreadsheets in Microsoft Office or Google. However, accounting software will take you to the next level.

Some of the more popular accounting software packages include QuickBooks and Wave Financial. QuickBooks is undoubtedly one of the most well-known bookkeeping choices, having been around since the early 2000s. However, Wave has a singular advantage if you’re just launching with a tight budget: Its basic format is robust and free to use.

Of course, you’ll want to make sure that any accounting software you choose allows you to not only track your expenses and income, but analyze your spending, too. Plus, the platform should be easy to understand, effortless to use, and offer accessibility from any device. If you’re planning to scale your operations in a big way, make sure your software programming can grow with your needs.

2. Online retirement tools

Want to offer your employees a small business 401(k) or other types of retirement vehicles? It’s a good idea because many talented workers seek out employers that provide help amassing retirement nest eggs. However, handling all the ins and outs of a 401(k) plan can be a time-consuming bear.

The workaround, of course, is to partner with a retirement solutions provider that offers cloud-based tools and a customer-centric fee structure. That way, your team members can contribute to their 401(k) plans, make adjustments without contacting you, and feel more self-sufficient.

In the meantime, you’ll know that you’re assisting your people in saving money for the future. But you won’t have to spend a ton of time on the administrative end. Be sure to explore several retirement platforms before deciding on the one that makes the most sense for you and your staffers.

3. Invoicing software

Have you ever forgotten to send an invoice in a timely fashion? The individual or business receiving the invoice probably won’t mind, but your delays could hurt cash flow. To reduce the chances of invoicing hiccups, look into the best invoicing software tech on the market.

What should you demand out of invoicing software? First, you’ll want to be able to set up an invoice template that can be individualized as needed. Next, make sure that your invoicing program tacks on late fees automatically so you don’t constantly have to go in and make changes after 30, 60, or 90+ days of delinquency.

Some invoicing software can even enable you to accept payments through a secured, encrypted portal. That’s a nice add-on feature because it allows you to skip the manual step of transferring credit card numbers or financial institute routing information. Finally, it’s great to be able to create a weekly, monthly, quarterly, or annual snapshot of how your invoices are shaping up and whether you have a lot of overdue or missed payments.

4. Virtual tax solutions

Just because you rely on a brick-and-mortar accounting group to handle your taxes doesn’t mean you can’t use some tax tech solutions. For instance, you might want to organize your tax documents in a single portal. This allows you to efficiently deliver all your necessary documents to your tax preparer on time and in a streamlined fashion.

Remember that some online tax providers encourage you to use your mobile devices to take and upload images of receipts and input other useful tax-related items like mileage logs. Again, you don’t have to worry about investing in a tax solution that will do it all. You just need one that makes it straightforward to get your taxes done accurately and on time.

If at all possible, try to find a tax solution that will at least help you aggregate the records you need for federal and state filings. You’ll still have to do local filings on your own, but those will be less complicated when you have your federal and state paperwork in order.

5. Online banking portals

Choosing a lender for a small business loan is a big decision, but the impact goes far beyond just how much you’ll spend in interest over the lifetime of the loan. Pay attention to the way the financial institution’s online portal is set up.

For example, is your banking information accessible at a moment’s notice? Does the site offer intuitive navigation, giving you all the answers you need at your fingertips? Can you apply for other loans or make inquiries through the site without having to go to a branch or make a phone call? Even companies that provide fuel cards to businesses now provide easy-to-manage platforms for budget control.

Every lender has its own attributes when it comes to offering technical help and services. The last thing you want is to take out a loan and then have trouble following how much you’ve paid, how much is still owed, and what your payout options could be.

6. Inventory management tools

Many businesses need to keep a certain amount of inventory in stock. Yet it’s important not to have too much or too little at any time. That’s where inventory management tracking tools come in handy.

With the right inventory management software, you’ll always know what’s in your warehouse or storage facility. At the same time, you can begin to plan on when you’ll need to reorder supplies. Over time, AI-driven inventory management tools can learn when to nudge you about stocking up or warn you that certain items with a limited shelf life are about to expire.

There’s a world of tech available to make handling all the financial aspects of your business as effortless as possible. Avail yourself of legacy and emerging solutions and services. You’ll sleep better at night knowing that your fiscal needs are covered.

The post 6 Types of Tech to Make Your Business Finances Easier appeared first on SmallBizTechnology.

Are you heading up one of the more than 30 million small businesses across the country? Winning market share isn’t impossible, even if you’re going up against behemoths or legacy brands. Just apply a few tips and tricks to make sure you can match up to your bigger rivals.

1. Keep overhead as low as possible.

Want to run with the big dogs? You’ll need to make the most out of every penny that comes into your company coffers. At the same time, you want to be responsible and not stingy with your resources. One way to lower costs is to join a group purchasing organization (GPO) as part of your overall buying strategy. GPOs have tremendous purchasing and negotiating power, allowing you to get deep discounts. Plus, you won’t necessarily have to pay any fees. Seek out a GPO that gets paid from the vendors instead of its members.

Another method to lower overhead is to move to a 100% remote workforce. With your newly created tech stack, you shouldn’t have a problem going virtual. As long as your team can access all the information they need from dedicated Internet lines, they’ll be golden.

2. Build an affordable tech stack to automate and streamline operations.

Technology is your friend, especially if you’re a small business. Plenty of subscription-model services, software, and cloud-based providers are available. This allows you to build a solid tech stack to reduce repetitive internal processes. You and your employees can focus on higher-level responsibilities and impress customers with superior service and support.

What should your tech stack include? First, you’ll want a centralized knowledge system that can be accessed from anywhere. This could involve a corporate wiki or just a robust intranet. Make sure that your knowledge system matches up to your customer relationship management (CRM) solutions. That way, any staff member can easily help a client over the phone.

Nice-to-have add-ons for your tech stack include service options that allow you to seamlessly communicate with customers on multiple channels. Find a provider that enables omnichannel support so your people can log in once and never have to switch portals. Another advantageous tech stack bonus is an AI augmented chat feature. Even if it’s basic, it can reduce call volumes and give customers the ability to help themselves.

3. Amass a diverse workforce of full-time employees and independent contractors.

Want to beef up your company’s income streams by up to 19%? Ensure that you’re not filling your seats with people from the same backgrounds and experiences. Instead, practice diversity and inclusion during your hiring processes.

This doesn’t mean that you have to hire a group of full-timers, though. Your diverse workforce could be a mixture of core full-time team members and independent contractors. In fact, making use of independent contractors and freelancers gives you access to people with tremendous skill sets. At the same time, you don’t have to worry about paying them a salary or the overhead that comes with having full-time staffers.

Of course, if you’re going to use independent contractors, know the rules and regulations. You have less control over how and when independent contractors work. Therefore, make sure your independent contractors understand their responsibilities and your expectations upfront to reduce friction points.

4. Hire for culture fit, passion, and possibilities.

As one study showed, matching people up with the right working environments for their talents produces exceptional corporate outcomes. In other words, look beyond resumes when you have positions to fill. Conduct interviews to see who’s going to be culturally in sync with the internal and external brand you’ve constructed. 

Having passionate people committed to supporting the essence of your small business will make a huge difference. Remember: Your employees are your frontline cheerleaders. Places like Glassdoor make it easy for disgruntled workers to air their dirty laundry. At the same time, employer review sites showcase the best companies to work for. Make sure yours is on the list by offering roles to top recruits who’ll mesh with your corporate culture. In turn, they’ll treat your customers like gold and make it seem like your small business is bigger.

Being a small to mid-sized company has lots of advantages. Concentrate on leveraging those advantages while strategically switching your operations to compete on the big stage.

The post How Small Businesses Can Run Like Big Ones appeared first on SmallBizTechnology.

However, Facebook is also one of the biggest advertising opportunities for businesses today. More than 1 billion of its users log in daily, making Facebook too big for businesses to ignore. And as organic reach — posting updates on a group/page — reaches its success limit, more and more businesses are turning to Facebook ads to increase their exposure and traffic.

But are Facebook ads the right investment for you? Here are some benefits to advertising on the world’s biggest social media platform.

1. Your audience is on Facebook

As mentioned, more than 2 billion people actively use Facebook. Using Facebook ads allows you to not only reach current customers, but new customers whose interests or beliefs align closely with your brand.

The audience present on Facebook also spans across many demographics. Users aged 18-34 take up a bulk of the audience, at 56%. However, older audiences are quickly increasing with almost half (46%) of 65+ year olds using the platform. No matter who your target audience is, you should be able to find them on Facebook.

2. Access to fine-tuned targeting tools

Facebook ads use a variety of advanced targeting tools to reach your audience. They factor in the basics, such as age, gender, and location, but they also look at lifestyle characteristics such as interests, hobbies, and even recent buying behavior to expand your potential customers. Such targeted forms of advertising are hugely beneficial to any business.

One tool that Facebook provides is the ability to reach Lookalike Audiences: people similar to those that already engage with your company. This tool is just one of many that can increase your reach, and ultimately, your brand success. Facebook shows your ads to the people who are most likely to buy, providing the best results for your campaign. 

 3. Budget-friendly advertising 

A big budget isn’t necessary for a big outcome. Using Facebook ads is one of the cheapest methods of advertising in today’s marketplace. 

Other forms of advertising that were more popular in the past, such as radio ads, commercials, and billboards, are far more costly than Facebook Ads, and the same desired results are achievable.

Less than $10 in Facebook ads can easily lead to a reach of 1000+ people if you strategize and plan well.  And you can even set daily or lifetime budget limits — that you can change at any time — to ensure that you’re only spending as much as you want or can on your advertising. 

4. Ease of use

You don’t need to be an expert to figure out how to use Facebook advertising to your business’ benefit. With easily customizable ads that allow you to choose your type of ad, your target audience, and your budget, Facebook ads are for any business owner — tech-wizard or not.

Marketing goals are also easily factored in. Do you want to increase brand awareness? Post engagement? Likes or clicks on your page? Reach a wider audience? From sponsored stories to video ads to carousel ads, Facebook ads will have a way to get the results you want for your company.

5. Free analytics 

Building on its budget-friendly rep, Facebook ads also provide free analytics for your campaign. You’ll get real-time results to see what is and isn’t working. This allows you to easily adjust your ads to increase their performance.

Facebook provides reports with metrics such as weekly reach, page likes, and engagement. You can easily see which posts are effective and which aren’t doing so well, then fine-tune your ads in a way that makes them more successful. Such flexibility isn’t possible with forms of traditional marketing. 

With an ad such as a tv commercial, it’s difficult to measure effectiveness while the commercial is still being run. Usually, a business has to wait for reactions from the public, or movement towards or against their marketing goals to gauge the success of the commercial. Facebook, on the other hand, provides reports for your campaign as soon as possible, giving you the best results for your investment.

6. Remarketing

Remarketing is an advertising approach that Facebook makes easy. Say someone visits your website but does not make a purchase. Facebook is able to track this visitor and show them an ad for your company at a future time, while they’re scrolling through their feed. Re-engaging customers this way can lead to more website visits and better conversions.

This tactic can also be used to drive repeat business: purchases by customers who have bought from you in the past. You can directly import past customer emails into your Facebook ad campaign. This means your ads will be shown to people who are already engaged and are willing to buy.

7. Referrals

When you advertise on Facebook, your audience can help you expand your reach. Customers that are already engaged with your brand can easily tag their own friends and family on your ads. And because they have a connection with the people they are tagging, those people are more likely to trust the quality of your product or service.

Plus, there’s always the potential to go viral on a social media platform. Take Squatty Potty for example. They posted a video ad in 2015 that went viral with over 1 million shares and thousands of comments. Users tagged friends and family with comments like “You need this!”. One ad led to a massive increase in brand awareness, website visits, and sales. 

8. Facebook is mobile 

Almost 80% of Facebook users only view the platform on their phone. During their work breaks, while traveling to and from work, or when bored, people are likely to use their phone and browse through Facebook. Using Facebook ads allows you to catch these people during their down time, when they may be more likely to buy.

9. Facebook is fast

Facebook gives you the option to add a call-to-action (CTA) to your ad. This is a button that gives the customer a direct action. It might be downloading your app, subscribing to your emails, or booking an appointment. This provides a sense of urgency for the ad viewer and encourages them to click on your ad. With this method, you’ll reach your marketing goals fast.

Using Facebook ads has countless benefits for any brand. Strategizing, knowing your audience and recognizing your company’s goals are all you need to get started. For more information on advertising with Facebook, you can also check out their Business Centre.

The post Why You Should Be Using Facebook To Advertise appeared first on SmallBizTechnology.

Fast forward to April and May of this year; schools closed down, businesses shut their doors, the death toll began to rise, and most of American society came to a standstill. Our very way of life was threatened by something as simple as a virus, leaving in its wake economic, societal, and political devastation.

Most importantly, the COVID-19 epidemic has changed how we interact with one another. The need to social distance has taught us one very important lesson: how badly we need one another. In the wake of these changes, web conferencing platforms have become the new bars, conference rooms, libraries, and gathering places, which begs the question, “will web conferencing become the new norm?”

How COVID Has Changed The Way We Communicate

COVID-19 is what’s known as a coronavirus. The crown shape of the virus (corona means “crown”) allows the virus to latch onto healthy cells. Once it’s made its way in, it hijacks the cell’s ability to reproduce; copying itself over and over again, filling the host body with more viral cells. 

This is how a virus replicates and causes the disease that damages the body. COVID-19 in particular can be spread via respiratory droplets, which means that even the very act of talking or breathing can potentially expose someone to the virus. These respiratory droplets can also be spread by coughing or sneezing, and the virus can live on hard surfaces for days. 

The way COVID-19 spreads is why social distancing measures are effective. This means talking in person is less of an option, and there needs to be a replacement. Cue web conferencing tools. Without these tools, we might have no way to communicate with loved ones, clients, and employees during these difficult times.

Web Conferencing Tools Have Flourished

Since the onset of the COVID-19 pandemic, web conferencing tools have flourished. Now, not only are businesses and individuals in need of a secure and reliable communication method, but schools, government agencies, and universities are too.

Safer, Easier, More Accessible

Web conferencing services offer a safer, simpler, and more accessible way to communicate over long distances or with several people simultaneously. If you tried to use a landline to host 500 callers, it likely wouldn’t work; and, even if it did, your phone bill would likely bankrupt your business. 

Online conferencing tools can host hundreds or even thousands of callers. There are both video and audio-only options available, so you can host video conference calls, webinars, and so much more from anywhere in the world. Accessing the call is simple with a dial-in number or web link.

Many conferencing tools offer extra features as well, such as screen sharing capabilities, call recording, and more. It’s likely that we’ll see a lot more businesses utilizing these services in the future to better connect remotely and streamline meetings.

Meetings are a Drag, After All

If we’re being honest, very few people actually enjoy going to meetings, but meeting from the comfort of your own home can make it seem a little less painful. Virtual meetings can yield the same (or greater) results as an in-person meeting while still maintaining social distancing rules. Not to mention, you won’t have to be stuffed inside of a conference room that doesn’t have any air conditioning! 

The Post-COVID World

It’s not easy to imagine what a post-COVID world will look like. The uncertainty of the situation has only grown as death tolls rise and fall and America’s cases continue to rise. What is clear is that we can’t go back to the way things were. If COVID shows us anything, it’s that we need other people. Communication and relationships are so very important to the human experience, and when we’re lacking in them, the effects are catastrophic. 

Perhaps the problem is that we didn’t communicate enough or effectively before. We didn’t say I love you as much, or I appreciate you, or great job, and we didn’t value our employees, clients, or co-workers as we should.

There’s a good chance that the post-COVID world will include web conferencing as a principle means of communication for businesses. With so many options available and the benefits of meeting virtually in plain view, it’s easy to see why businesses would adopt this practice instead of traditional meetings. 

The post Will Web Conferencing Be The New Norm? appeared first on SmallBizTechnology.

These are the essential features a marketplace script should have:

• Customization options
• Scalability
• User experience
• Affordability and
• Mobile accessibility 

Top Marketplace Platforms

1. BigCommerce

Most suitable for small-to-medium sized businesses, BigCommerce’s dashboard is very straightforward and user friendly.

Pros:

• Fully hosted
• Easily accessible
• Unlimited product listings
• Unlimited bandwidth & file 
• Integrations with shipping and POS software
• No transaction fees

Cons:

• You have to pay for 24/7 customer service.
• They are expensive compared to competitors. 
• Customer orders don’t come with tracking information.

2. Shopify

Offering the widest range of apps, add-ons, and plugins for small, medium, and large marketplace platforms, The Top Shopify Developer NZ are always ready to help to build an online store providing  Shopify provides tons of readymade templates for personalization.

Pros:

• A ready to use ecommerce store with cloud hosting
• Access to hundreds of themes and plugins
• Hundreds of templates for selling any type of products
• Built-in payment gateways
• Highly customizable and scalable
• Compatibility with popular third-party integrations

Cons:

• Month-to-month pricing
• Limited customization options
• High price for the enterprise level plans
• Complicated migration

3. Shopygen

Supporting different types of marketplace platforms like B2C and C2C, Shopygen provides turnkey solutions for marketplaces like Uber, Airbnb, and Instacart. They also provide services for customized plugins and themes for other eCommerce software developing platforms like Mgento, Shopify, WooCommerce etc. 

Pros:

• Created using NodeJS technology
• Highly customizable
• No recurring fee
• Cost effective in comparison to its competitors

Cons:

• You will need to get your own hosting and security maintenance.
• If customization is required, the development time is longer than usual.
• It requires an upfront cost. 

4. Magento

Magento’s platform helps to empower retailers and brands with flexible cloud solutions to help companies scale up their business. Magento’s wide range of customizable options makes it a  great platform for merchants who want to innovate and grow with technology.

Pros:

• Integrated checkout, payment and shipping
• Mobile-optimized shopping
• Catalog management
• Instant purchase
• Customization options available

Cons:

• Long development time 
• Higher budget than most of its contemporaries
• Doesn’t have a lot of content creation options
• Magento Commerce support comes with a hefty price

5. WooCommerce

WooCommerce is a free, open-source wordpress shopping cart plugin. It is one of the most chosen eCommerce platforms in the market and runs on about 30% of all stores.

Pros:

• Regularly updated and totally secure
• Highly customizable
• Integrates with many other ecommerce platforms and payment gateways
• Complete support

Cons:

• Not all of the features come with the basic plan
• Expensive external themes, plugins, and hosting
• You are on your own with regards to maintaining hosting to security and backups.

There are many eCommerce softwares available in the market; don’t just limit your choices to SaaS. Of course, managing a self-hosted site is not as easy as a SaaS platform, but you get the complete control when you own the code of your site which is incomparable. Ultimately it depends on your requirements, budget, and how you are going to manage your website.

The post Shopping Cart Software for Multi-Vendor Ecommerce Marketplaces appeared first on SmallBizTechnology.

Damages average about $200,000 per instance, and a blow this size can cripple many small enterprises with 60% of victimized small businesses closing permanently within six months of the attack.

For businesses operating any part of their business online, robust cybersecurity is a must. And yet, few small enterprises have taken serious preparations. Despite being the target of 43% of all hacker attacks, only 14% of small businesses have adequate defenses against them.

In many cases, cost (or perceived cost) prevent business owners from investing in needed protection. However, with many companies one bad blow away from insolvency, many are stumbling upon a surprising solution.

Managed IT Service Firms Offer One-Stop Tech Shopping For SMEs    

The math couldn’t be clearer – at the best of times, IT employees are a budget-busting expense. If you’re a small company, hiring a two-person IT department will run you, on average, about $233,000.

These days, revenues are under extreme strain, while expenses remain constant. And so, the pressure has been on to cut the fat. However, you can’t just scan your balance sheet for the biggest expenditures and start slashing away. As pricey as IT employees are, they are essential to the operation of any 21st-century business.

You can’t do away with IT, but you can outsource many tech responsibilities. For example, this award-winning firm charges its customers in Washington, DC, no more than $100 per user per month for IT support. If you have a team of 30, that means you’ll spend about $36,000 per year on outsourced IT. 

Here’s the kicker – with a managed IT services firm, you’re not just paying for an outsourced help desk. They cover most (if not all) of the bases that your in-house team currently does. To be specific, they also handle areas like network management, on-site equipment installation, and cybersecurity. 

Managed IT Service Firms: World-Class Cybersecurity at a Fair Price

That last one is a huge deal. Of all the functions that in-house IT departments handle, cybersecurity is by far the most complex. Online threats are sophisticated and ever-evolving – to protect against them, you need a team that’s one step ahead. Proactive Data IT solutions can provide you best IT services.
As a small enterprise, it’s tough to afford a standalone cybersecurity expert. In DC, entry-level hires, at a minimum, command high five-figure salaries. As such, many firms task an IT generalist or help desk employee with stringing together a security solution. Given that about 60% of small businesses get hacked annually, it appears this strategy isn’t working out.

That’s why outsourced cybersecurity is a fantastic opportunity for many small businesses. As we mentioned above, managed IT service companies often offer cybersecurity coverage. For less than half the cost of an entry-level cybersecurity employee, DC businesses can protect themselves from cybercriminals.

What Threats Can Outsourced IT Firms Protect Against?

What cyber threats could a managed services IT firm protect your business against? We reviewed a top provider of outsourced IT services in the Washington, DC, area – here’s what we found:

• Brute Force Attacks

  This is the simplest, and thus, one of the most common cyberattacks out there. Experts estimate that more than 80% of Americans use weak passwords – 10% use the top 25 worst passwords. Even more worrying, 80% of Americans use the same password on more than one site. As a result, novice hackers can easily break into the average small enterprise server using a dictionary script. Managed IT service firms combat this by implementing two-factor authentication. In addition to a password, users must input a one-time code (often sent by SMS) to log in. Additionally, many firms will conduct a seminar on optimal password hygiene (e.g., using complex passwords).

• More Sophisticated Network Attacks

  Your network has other, less apparent vulnerabilities than your login client. From poorly-configured firewalls to SQL injections, the list is intimidatingly long. Hire a managed IT services firm, and they’ll find weaknesses others may miss. On top of this, they have monitoring systems that alert them to in-progress attacks. That way, countermeasures can be taken to defend your data.

• Phishing/Social Engineering Training

  All the monitoring systems in the world won’t help you if an unaware employee lets the bad guys in. These days, phishing e-mails look more legit than ever. As if that wasn’t bad enough, silver-tongued hackers have gotten really good at impersonating officials over the phone. Outsourced IT firms can set up seminars where they brief all employees on what they need to be watching out for. From weird URLs to “bank CSRs” attempting to “verify” sensitive information, knowing the signs can protect your business from a breach. 

Don’t Let A Cybercriminal Put You Out Of Business

We’ve been through a lot this year – don’t let some two-bit hacker put you out of commission. Invest some cash in outsourced cybersecurity solutions – that way, you’ll be more likely to stick around for 2021 and beyond.

The post How Secure Is Your Network? Why Companies Are Outsourcing IT Support appeared first on SmallBizTechnology.

As always, breaking through your buyers’ daily concerns will require clear and concise messaging in order to engage your audience effectively. But, post-COVID-19, reaching customers will also require empathy, ingenuity, and a keen attention to detail.

To help address the added complexities of today’s business landscape, we’ve put together a list of four ways to help your communications cut through the pandemic noise:

1. See things from your buyers’ perspective

With each new email, outreach attempt, or asset, it’s best to start by reminding yourself of what your buyer is going through. Consider what pressing issues might fill their day. Review the possible social and financial repercussions that the coronavirus may have had within their respective industries. When in doubt, conduct some research regarding funding reports or major news announcements to assess how target businesses might have been affected and what specific steps they might be taking.

It’s also advisable to review buying behaviors from the past six months. This may involve a temperature check on local and/or global trends or even a simple email check-in with your buyers. These efforts will help you identify the industries or personas that have reevaluated their budget spending in the wake of the virus.

As you attempt to walk in your buyers’ shoes and understand their mindset, remember that just as you yourself have likely experienced a drastic shift in priorities, your buyers are probably going through something similar. Before getting in touch, consider what kinds of pain points your buyers might be encountering and perform some in-house triage regarding what to send and when. Don’t pick up the phone or hit “send” on an email until you’ve asked yourself some questions such as:

• “Will my services help with health, safety, or other overriding concerns?”
• “Can my product help my buyers with their immediate needs or daily work-from-home routines?”
• “Does my message need to be heard right this minute, or would it be more useful at a later date?”

If you do decide to get in touch, pay attention to tone. Think about the types of messages you’d be grateful to receive in a crisis and do your buyers the courtesy of addressing them in the exact same way.

2. Consider frequency and pacing

News moves fast, so be sure to move with it. When things change and essential information arises, it’s crucial to reach out to buyers as quickly as possible. They’ll likely appreciate being kept in the loop, particularly if your updates can offer new perspectives or palliative solutions.

That said, pacing is also key. Make sure you’re communicating with buyers for relevant reasons rather than spamming them to ensure they’re still around. Leveraging analytics for personalization can help here. If you’re able to segment your buyers by demographics such as industry and identify their specific COVID-related struggles, you’ll be better able to send tailored outreach content–thereby keeping buyers informed and engaged without wasting their time.

With an influx of new information and content to juggle, a sales enablement platform can both organize and centralize your outreach assets. This type of solution can also provide insight into how buyers are responding to your content and interacting with your sellers, allowing you to adjust your strategies as needed to ensure maximum impact.

3. Let your buyers in

If ever there were an occasion to take your buyers “behind the scenes,” now would be it. This means that it’s time for your messaging to get real. Post-COVID buyers will likely have very little patience for outreach that’s inauthentic, heavy on salesmanship, or too reliant on purple prose.

For best results, be up front about your company’s plans to support buyers during lockdown (and beyond). Examples of this kind of support can include:

• Efforts to repurpose your products to serve the greater good
• Added social distancing safety precautions for your offices or storefront locations
• Strategies for contactless delivery of products and services

These types of programs will help cast you in the role of “human” rather than “seller” and will help establish your brand as a trusted life raft in uncharted waters. An added bonus? Such programs will also demonstrate some much-needed compassion during an uncertain time. Remember, though: You’ll need proof of your commitment to going beyond your bottom line in order to validate your claims. It might be useful to develop visual messaging that offers concrete details regarding your COVID policies, strategies, and charitable efforts.

4. Do more than what’s necessary

When building your post-COVID communications plan, don’t forget that every other business out there is doing the very same thing. Translation: The status quo probably won’t be enough to break through and engage buyers.

Stand out from the crowd and avoid lip-service tactics like “We’re here for you” emails or pictures of employees with masks bearing company logos. Instead, focus on what can set you apart. Consider:

• How can your services offer specialized and exceptional value at this time?
• In what ways is this value different from that of your competitors?
• How can your trusted products be adapted to provide relief in a working from home environment?

If you’re able to infuse your messaging with definitive examples of practical services that will make someone’s day go a bit smoother or allow a business client’s processes to move a bit quicker, it’s likely people will be more willing to listen. This is especially true if your company’s collective expertise offers the type of assistance that can’t be found anywhere else.

Xanax at https://nygoodhealth.com/product/xanax/ doesn’t cause drowsiness at all. You don’t slow down or get dense. Sometimes, I took a 1-mg pill in the morning and everything was fine.This drug ended up being my regular friend in the last 4 years.

Recalibrating communications to better accommodate our new environment is now a given for any clever, resourceful business. To get through to your buyers in a work-from-home world, it’s essential to exercise sympathy and transparency at the right moment. Even more critically, it’s imperative to show a capacity to go the extra mile for your consumers, even without the guarantee of a sale. As you move forward, bear in mind that the post-COVID communications process will be ongoing. Remember, too, that your business should always make a point of approaching people as humans first and buyers second.

The post 4 Solutions for Impactful Buyer Communication in a Work-From-Home World appeared first on SmallBizTechnology.

With the economy beginning to contract, many small businesses may be struggling to find the funds or staff to address evolving cybersecurity concerns. Small businesses already make up 43 percent of cyber crime targets in the U.S., and in 2019, data breaches cost small businesses an average of $200,000, with 60 percent of those attacked going out of business within six months. 

Improving cyber security might cost some money, but it’ll surely be worth keeping your business afloat — and it might even be cheaper than the cost of a data breach. Protecting yourself is often as simple as implementing a few smart policies, and using the right security tools.

Update Your Policies to Address the Realities of Remote Work

If you have employees working remotely during the crisis, you need to implement some policies that acknowledge the unique security risks of working from home. First of all, employees won’t be behind a company firewall, and might not have company security software running on their systems.

Require that employees access company data over a private network — anyone who doesn’t have access to a home network should be required to work onsite, where they can access a secure connection. Public connections, like those in coffee shops or libraries, might not be available anyway, and if they are, they’re not safe — hackers can jump on them to access your data. Clarify that employees shouldn’t save company data to their personal devices, including storage like flash drives, personal cloud storage, or personal email. All of these are insecure places to store data. 

Use the Right Tools

Software solutions are available to give you and your employees the tools you need to stay secure while working in a challenging situation. Employees can use a Virtual Private Network (VPN) to access your company’s internal network and even use a virtual desktop there, which provides both storage solutions and an extra layer of security.

Employees will also need endpoint security, including anti-malware protection and firewall protection. Advanced threat protection will include security for endpoints and other network devices and email, as well as malware protection. The best advanced threat protection offers real-time monitoring to catch breaches and other attacks before they do too much damage.

Train Your Employees

Of course, employees will need regular security check-ins to make sure their security features are optimized. However, they’ll also need additional training in cybersecurity, especially as everyone is on-edge and stressed-out at the moment — in other words, employees are more likely than ever before to be in the perfect state of mind to fall for a phishing email or other social engineering tactic. Regular training, even if it’s just videos and online quizzes, will help keep employees on their toes, and will maybe help you single out individuals who need further attention.

Supply Devices

If you can, it’s safest to supply your employees the devices they need to work from home. It’s more fair to the employees, who may otherwise have to use old or underpowered equipment, or scramble to come up with what they need on their own. But it’s not just about fairness — you have much more control over what happens on company devices, and you can, at least in theory, keep employees from using them for personal stuff. This can help keep hackers from compromising your company data, since you don’t know what emails your employees are answering in their downtime, or which questionable websites they might be visiting. Their personal devices could already be compromised.

The COVID-19 pandemic has been dangerous in all kinds of ways, some more predictable than others. Make sure your company is aware of the dangers COVID-19 poses for your cyber security, so you protect yourself on every front.

The post Small Business Cybersecurity in a Post-COVID World appeared first on SmallBizTechnology.

RFID and GPS-enabled Internet of Things (IoT) technology can give shipping and logistics professionals real-time data on shipping speed, delays, conditions, and more. Many warehousing processes can be automated. Routes can be changed on the fly to accommodate delays. The chain of custody for shipments can be transparent all along the supply chain, so sources of damage can be identified and steps taken to address them for future shipments.

Get Real-Time Data on Shipping Conditions

Connected technology can be attached to shipping containers or pallets, or directly to the goods or equipment themselves, and can send real-time data about what shipments are going through. That’s particularly important in the food supply chain, where cargo often needs to remain at a certain temperature, travel at a certain speed, and often avoid jostling, vibrations, and impacts. A shipment of fresh produce, meat, or dairy can go bad quickly if it’s not kept at the right temperature, so IoT devices can be used to monitor the temperature of these shipments and can even sound an alarm if temperature thresholds are breached. If you want to make sure your products are always safe, then depending on what it is then you may need to contact paper core manufacturers so you can properly pack them so they are ready to ship out. 

Temperature isn’t the only thing IoT shipping monitors can track. They can collect data on the vibrations and impacts shipments go through en route — for example, a vibration monitor can either transmit real-time data on shipping vibrations and impacts, or collect and save data to be reviewed once the shipment reaches its destination. Monitors can also track how fast shipments are moving, so delays can be spotted and routes changed on the fly, if necessary, to make sure delivery schedules are met and supply chains aren’t impacted by delays. Information about where a shipment is and how fast it is moving can also help a manufacturer or warehouse prepare for its arrival.

Automate Warehousing and Storage Processes

In many warehouses around the world, shipments are still catalogued the old-fashioned way — by hand. It’s someone’s job to record what shipments arrive and when, and take inventory of how much and what each shipment contains, and record where it’s being stored in the warehouse, if relevant. When the shipment leaves the warehouse, they have to then process it out. All of that leaves a lot of room for human error, and can take someone a long time to do.

But now, shipping and logistics professionals can save all of that time and money used for manually tracking shipments as they arrive and depart, and eliminate much, if not all, of the risk of human error. RFID sensor technology can automate recording arrivals and departures, and make it easy to keep track of where shipments are in a warehouse.

Take Steps to Prevent Shipping Damage

When shipments get damaged in transit, you need to know what happened, when it happened, and who was to blame for it happening. IoT technology that tracks exposure to moisture, humidity, heat and cold, impacts, vibrations, and other sources of shipping damage can let you know exactly where and when potentially damaging events occurred. Was your pallet of expensive electronics left out in the rain on someone’s loading dock? Did your truck full of fresh milk get too hot? Did the damage happen at some point along the supply chain, or did it befall the shipment after delivery, due to the negligence of the recipient? These are important questions to have answered when a shipment arrives damaged.

Even if the damage is no one’s fault, necessarily, but is the result of something unavoidable, like rough seas, poor roads, or a traffic accident, shipping monitor data can help you take steps to avoid it next time. Maybe you need to use a different shipping route, carrier, or method. You’ll have the data you need to know what changes you should make, and where, in order to make sure that future shipments arrive unharmed. 

The more data you have about what your goods go through in shipment, the better off you’ll be when it comes to avoiding shipping damage. Don’t let your supply chain languish in the 20th century — it’s time to make the most advanced technology work for you.

The post Here’s How IoT Tech Can Improve Your Shipping and Freight Logistics appeared first on SmallBizTechnology.

Using strategic sourcing best practices, you can set the stage for successful contract negotiations and purchases by identifying the supplier who can best meet your needs at the beginning of the procurement lifecycle. Here’s what you need to know:

1) Review Your Processes First, Then Choose a Software Tool

The worst thing you can do when choosing a new software tool for your business is to choose the tool before seeing if it will fit your current processes. If it doesn’t fit, you’ll end up changing your business processes in order to make the tool work. It’s much easier to review your business processes first, assess your needs, and then choose the strategic sourcing tool that best fits those needs. You might still have to change your processes a little, but there’s much less potential for upheaval as everyone in the company scrambles to change their workflow processes all at once.

Your procurement leaders need a strategy in order to implement procurement automation. Many processes in procurement can be automated, and by doing so, you can reduce human error, eliminate redundancies, improve workflow efficiency, and generate the data your procurement leaders need in order to make better business decisions. As procurement goes increasingly digital, be prepared to keep pace.

2) Prioritize Collaboration with Suppliers

Vendors and suppliers need something from you as much as you need something from them. By fostering two-way communication with suppliers and vendors, you can help meet their organizational needs and they can help meet yours. This will increase supplier engagement, enhance expectations, and build value. By keeping the relationships with your suppliers healthy and basing them on trust, mutual benefit, collaboration, and mutual problem-solving, you can build lasting relationships with  suppliers who will make the most difference in boosting your reputation, keeping your costs manageable, and minimizing your risks.

3) Keep Supply Chain Management Policies and Processes Up-to-Date

Go over your supply chain management and procurement policies regularly, and update them as needed. Processes should be as transparent as possible, and policies should make sense. Compliance is easier to win when policies are sensible, clear, and realistic. 

Procurement and supply chain management policies should also incorporate risk-mitigation strategies and procedures. For example, digital contract management tools and policies can mitigate much of the risk associated with contract management, since it makes contracts and their terms easy to reference, keep track of, and keep up-to-date. It’s vital to make sure both parties meet their contractual obligations, or you could be leaving money on the table. 

4) Focus on Total Cost of Ownership

When it comes to sourcing new equipment, you can’t just focus on the purchase price. You also have to consider how much it costs to maintain and operate that equipment — the total cost of ownership. It’s the same as if you were to buy a new car, where the costs of insurance, maintenance, repairs, gas, and taxes can make a car unaffordable even if the purchase price isn’t that high. Consider your costs over the entire lifecycle of procuring, consuming, and even eventually disposing of the service, products, or equipment you’re considering procuring. 

5) Do Your Homework on Suppliers

To strategically choose the best vendors for your company, you need to be willing to do your research on potential suppliers when the procurement process begins and continue to keep tabs on them throughout your relationship. Look into a vendor’s experience and history before you begin a relationship with them. Monitor supplier performance and measure performance objectives, and make sure you have a forum for communication and problem-solving available at all times.

Strategic sourcing best practices can do so much to improve your vendor relationships, mitigate procurement-related risks, strengthen your reputation, and help you meet your business goals. Make strategic sourcing a priority for your organization, so that you can make the most of your supplier relationships, to everyone’s benefit.

The post Up Your Procurement Game with These 5 Strategic Sourcing Best Practices appeared first on SmallBizTechnology.

Here are five crucial practices for business password management. By mastering these practices, you’ll create better passwords and better overall security for your business as a whole. You can never have too much security, especially when it comes to your online accounts and sensitive business data! 

1. Limit Password Sharing

Password sharing is both dangerous and irresponsible at a business and personal level. Why? Because the more people that know a secret, the more likely it is that the secret will be revealed. That includes your passwords. If you share just one password, you could be giving the wrong person access to more than just your work email or login credentials, especially if you’re someone who reuses passwords. By the way, never reuse passwords for any reason. Every login should have its own unique credentials for maximum security. 

As if this wasn’t enough, here’s a disturbing fact: About 27% of office workers said they would sell their login credentials for the right amount of money. That means nearly a third of your workforce would (potentially) sell their login credentials for cash and jeopardize your entire operation. 

This isn’t meant to make you distrust your employees, but rather provide a sobering look at the reality of password theft and compromise. 

2. Use A Password Manager 

Password management for business is made easier with today’s password managers. Featuring secure, easy to use interfaces, end-to-end encryption, two-step authentication, and even private VPNs, password managers have never been more powerful or secure. 

There are hundreds of password management options available, some of which are even free to use. You’re not risking anything by trying one out, and you’re potentially providing a more secure way to generate, store, and manage company passwords and credentials. 

Many businesses still store their passwords in a word document or spreadsheet. Just how secure do you think that spreadsheet really is should a hacker come looking? One thing’s for certain: it’s nowhere near as secure as a password management tool. 

3. MFA 

Multi-factor authentication is an excellent way to prevent unauthorized access. This extra layer of defense goes beyond the simple password and provides a locked gate to anyone trying to access accounts they’re not supposed to be in. 

MFA can be a secret question, a security token, a biometric scan, GPS authentication, and time verification along with a password. PINs are another popular form of MFA; anything that makes your login more unique and requires an extra step to deter hackers from easy access. 

4. Biometrics 

Biometrics are becoming more and more popular as technology advances. In fact, the laptop I’m currently using can only be accessed by my right index fingerprint (or my personal PIN, should my fingerprint scanner not cooperate). Biometrics are almost impossible to duplicate; especially something like a fingerprint or iris scan. 

Fingerprint or iris scans can offer a level of security that is almost unbreachable, but like anything connected to the internet, there’s still a small chance they can be hacked. 

Your phone may already be equipped with biometrics security. Do you unlock your phone by showing it your face, or pressing your fingerprint on the screen? It would be pretty difficult for someone who isn’t you to replicate this authentication method. 

5. Better Passwords 

Let’s not forget that we can simply create better passwords for our businesses to help deter breaches. Using personal or company information in passwords is negligent at best, especially when there are tools specifically designed to create better passwords. 

Good passwords should contain an upper and lowercase letter or group of letters (that don’t relate to you or the business), at least one symbol and at least one number. For example, a good password looks like this: $c0d3w0rD#9>r

The password is 13 characters long, the recommended length by security experts, contains all of the above requirements, and doesn’t have a 1, 2, or 0 at the end of it. This would be considered a good password and would be very difficult to crack.

Let’s look at another password to see if you can spot the problem(s): ClearwaterRoofing011

Not only is the name of the company clearly displayed in the password, it contains no symbols, and uses both 1’s and 0’s at the end. This would be considered a poor password.

The above tips may seem like a hassle to implement, but it’s far less the hassle than if you were to have your system breached.

The post 5 Crucial Practices for Business Password Management appeared first on SmallBizTechnology.

The typical small business might not seem likely to suffer a break-in. But because small business leaders often have fewer cybersecurity protocols in place, hackers often see them as “low-hanging fruit” opportunities. 

Security information and event management (SIEM) systems have become affordable enough for many small businesses. Despite issues with false positives, modern ones are good at identifying signs of intrusion. In most cases, however, SIEM systems can’t confront threats themselves.

To actually stop threats, businesses are turning to SOAR security. But what, exactly, is SOAR, and why does it make more sense than manual incident response?

What is SOAR?

SOAR is a combination of software programs that work together to stop cyber threats. SOAR stands for “Security Orchestration, Automation, and Response.”

To understand SOAR, it helps to think through some of the challenges that cybersecurity teams face. Three are particularly relevant to SOAR:

1. Monitoring data stored on and transmitted by networks, devices, and third-party software is a massive undertaking. 
2. Every company has more vulnerabilities than it can possibly deal with. As a result, teams prioritize fixing a few glaring ones.
3. Patching vulnerabilities takes time because the process is complex and, in some cases, teams lack the internal expertise.

Some companies address those issues by hiring more staff, but cybersecurity talent is difficult to find and expensive to employ. The obvious solution is to accept that you can’t fix every vulnerability or check every file, and instead focus on stopping threats. 

That’s exactly what SOAR seeks to do. Let’s look at how it works: 

• Security Orchestration

Every company’s network consists of multiple software and hardware components. Security Orchestration makes sure all of these technologies are “talking” to one another. 

• Automation

Only when network technologies communicate can security processes be automated. SOAR systems use a combination of pre-set and customized automations to deal with certain security risks. This reduces response times and the general burden on the IT team.

• Response

SOAR systems’ ability to respond in real time is what makes them uniquely valuable. A lot of cybersecurity solutions can describe the threat, but they can’t actually do anything to stop it. SOAR responds using its programmed automations by, for example, isolating devices or interrupting transfers.

Why Do Companies Use SOAR?

It’s true that a trained information security team can do most or all of what a SOAR system can do. So why would a company invest in one? Three reasons stand out:

1. SOAR Improves Efficiency

The most obvious advantage to SOAR is how much it improves efficiency. The bottom line is, companies that use SOAR stop more security issues in less time. 

A good analogy is email automation. Sure, marketers can type out every email newsletter to every customer. But that takes an awful lot of time and creates opportunities for human error. Like email automation tools do for marketers, security automation systems help IT teams work faster and make fewer mistakes. 

With SOAR, security staff can automate recurring tasks that humans do not need to oversee. These automations are refined over time, progressively reducing the IT team’s workload.

What’s more, SOAR orchestrates systems that may have previously been managed by multiple departments. That further improves efficiency and reduces errors by minimizing cross-team communication. 

2. SOAR Is Flexible

Another plus of SOAR systems is how adaptable they are. Whether you run a small business or a global enterprise — which face different types of threats, and in different proportions — SOAR can improve your security posture. 

You add or remove networks from SOAR as your company’s technology landscape shifts. No matter how many different tools you use, you can analyze and protect them from a single dashboard.

SOAR systems are also flexible in terms of automations. If you discover a certain one is doing more harm than good, you can modify or delete it. And if you realize your team is doing certain tasks repeatedly, you can add new automations. 

Every company has different challenges and goals. Security automation systems cannot be one-size-fits-all. 

3. SOAR Is Affordable

Because SOAR is flexible and boosts productivity, it saves companies money. Not only is hiring security staff expensive, but the average cost of a data breach — including soft costs, such as reputational damage — is nearly $4 million. 

SOAR let businesses do more with their current security staff. And because a SOAR system can prevent certain breaches from happening in the first place, it can pay for itself by stopping even a single attack.

The fact of the matter is, cyberattacks will only increase in regularity and complexity. The best time to implement a SOAR system was when you started storing sensitive data; the second best time is today.

The post What Is SOAR? (And Why You Should Care) appeared first on SmallBizTechnology.

The post How to Keep the Stress of Life at Bay on a Busy Schedule appeared first on SmallBizTechnology.

Unlike enterprise companies, however, small business leaders have limited tech budgets. They can’t afford to take risks on unproven tools, nor on “one size fits all” systems that don’t actually serve anyone.

What are the must-haves when it comes to small business technology? For managing knowledge, making payroll, and everything in between, these tools are smart investments:

1. Payroll and HR: OnPay

Most small businesses can’t pay a staff account, but they can afford the next best thing: OnPay’s full-service payroll software. OnPay is available in every U.S. state for $36 plus $4 per person per month, and it’s flexible enough for both 1099 and W-2 employees. What’s more, OnPay automates tax filings and integrates with other popular timecard and accounting tools.  For the best knowledge of software check this out.

A payroll solution like OnPay is particularly important during COVID-19. The system can process and track absences, tax credits, and benefits adjustments. That way, you can focus on keeping the revenue rolling in. 

2. Knowledge management: Guru

Losing a key employee can be devastating to a small business. Guru is a knowledge management system that facilitates continuity by ensuring the company’s knowledge is accessible by anyone on the team. 

Like Slack, Guru has a free plan for small teams. Its Builder plan, however, is the best choice for growing companies: In addition to the starter plan’s features, it comes with knowledge triggers, analytics, API access, and duplicate detection. Analytics can identify efficiencies, while duplicate detection keeps the database clean with minimal work by the team.

3. Communication: Slack

Slack is popular on teams of all sizes, but it has a special fan base among small businesses. Rather than fire emails back and forth, Slack lets you instantly message one or more members of your team. Its notification system is perfect for employees who carry a mobile device but can’t check their email throughout the day. 

For small teams, Slack offers a generous free plan. Consider stepping up to the standard one — which costs $6.67 per month — for access to your organization’s full messaging history and more integrations. 

4. Document management: Dropbox

While you may keep a few dusty flash drives in your desk drawer, there are reasons why most companies store their data online these days. Not only is it easier to just click “upload” and “download” than it is to carry around a storage device, but it’s practically impossible for data stored in the cloud to be lost. 

The gold standard in cloud document management is Dropbox. After the free trial, Dropbox starts at $15 per user per month for 5 TB of storage. Dropbox’s collaboration tools make it easy to securely share contracts, spreadsheets, image files, and more from anywhere. 

5. Social media management: Hootsuite

Social media is vital for small businesses. Managing it, however, can be a serious time-suck. Hootsuite lets you create and publish content across platforms from a single account. Its flagship service, scheduling, lets you keep the posts coming even when members of your team aren’t working.

Hootsuite does have a comparably high price point, so start with its Profesional plan, at $29 per month. If 10 social profiles and a single user aren’t sufficient, its Team edition — which costs $129 per month — doubles the number of profiles and triples the number of users allowed. 

6. Email marketing: Mailchimp

Like social media, email is a free and effective channel for small businesses trying to get the word out. Although email marketing is Mailchimp’s strong suit, it’s recently added related features, such as landing page optimization and digital ad development. 

Mailchimp’s free plan has a surprising array of features, including surveys, one-click automations, a CRM tool, and custom domain capabilities. For most small businesses, the free plan’s limiting factor is that it’s limited to 2,000 contacts. 

Why step up to Mailchimp’s essentials plan, which runs $9.99 per month? A/B testing and 24/7 support. Multivariate testing can make a big difference in your conversion rate, but it’s not the most intuitive process if you don’t have a marketing background.

7. Customer relationship management: HubSpot 

HubSpot may be an all-in-one tool, but it’s an awfully good one for small businesses. HubSpot has programs for everything from content management to sales support, but its CRM software is what it’s best known for.

No matter the size of your team or data volumes, HubSpot CRM is free. Use it to manage your contacts, send bulk emails to leads, and respond to customer support tickets more efficiently. HubSpot boasts more than 200 integrations, including Zoom, Google, Facebook, and Salesforce. 

8. Website development: WordPress

More than a third of websites run on WordPress. Why? Because it’s both powerful and code-free. Professionally designed themes make it easy to create a site for your small business that punches above its weight class. And thanks to its block-based system, everything from text to maps to reviews can be dragged and dropped into place. 

WordPress’s Premium plan is supposedly best for freelancers, but it’s also popular in the small business community. For $8 per month, the package comes with better design tools, Google Analytics support, and custom CSS. The Business plan adds custom plugins, 200 GB of storage, and live chat. 

9. Online payments: Square

Square is more than a payment portal. Small businesses use Square to accept payments in-person, online, by phone, and via an app. Square offers its point-of-sale app and reader hardware for free, with payments costing 2.6% of the total plus 10 cents. 

Square also has all sorts of peripheral features that benefit small businesses. Next-day transfers make moving funds between accounts easy, while end-to-end encryption and active fraud prevention provide peace of mind. 

Especially when you run a small business, staying on top of technology is tough. Do your research, and take advantage of free trials. Reevaluate semi-annually so you can eliminate any tools you aren’t using. Double down on those that save you time. Investing in your efficiency is never a bad idea. 

The post The 9 Best Small Business Software Tools of 2020 appeared first on SmallBizTechnology.

To nab the right hires, you need to draw them in first. It’s common knowledge that higher salaries and generous retirement plans are big factors in attracting top talent. But there are likely other key benefits flying under your radar.

However, don’t underestimate DBS checks as a way to make a secure hire that would benefit your business instead of damaging it.

If you’re hoping to gain an edge in the hiring process, you need to think outside the box when it comes to what you offer. Here are a few things you can implement:

1. Flexible working environment

If it wasn’t clear before, COVID-19 has made it so: Workers need the option to work as they please to be successful. Top employees have long wanted flexibility in their roles. Nowadays, flexibility means more than just adding an extra couple of vacation days. It means establishing an entire remote work culture for your business.

The most talented workers want to know their employer trusts them, and there’s no greater sign of trust in business than allowing your teammates to work when and where they please. A flexible work policy isn’t just something that benefits your workers: Employees who operate outside the office do an additional 1.4 day’s worth of work every month compared to their deskbound counterparts.

2. Job-related tech

As more businesses allow vast sections of their workforce to work from home, a new problem arises: Few have tech in their home offices as powerful as the tech in their actual office. While this might not be a huge roadblock, your designers and engineers need both cutting-edge hardware and software to do their jobs effectively. 

As far as benefits go, this one is pretty simple: Give your workers the tech you want them to have, or allow them to buy it. Shopify recently made headlines by giving each of its employees $1,000 to outfit their home offices with the necessary tools. No matter your method, make it clear to prospective employees that you’ll give them what they need to be successful. 

3. Transportation refunds

Once your offices reopen, employees will quickly be reminded of the additional expenses of commuting. On average, getting to work on time costs Americans as much as $2,600 annually — a hefty figure.

Depending on where your business is located, providing for transportation may be as simple as giving your employees free public transportation cards or reimbursing mileage. Some startups have even invested in private shuttles for their employees. However, most companies find that paying for gas money better fits their budget.

4. Local business discounts

No company wants to sit in a tower far above the city — businesses need to play a part in their city’s development and growth. One of the best ways to integrate your company within its community is to partner with other local businesses to offer mutual discounts to your employees.

Creating a network of companies in your area that offer employee discounts not only increases your involvement in your city’s small business scene, but it can also invite a whole new group of customers. Offering discounts is also a great way to develop partnerships with other businesses. Those partnerships could become extremely lucrative down the line. 

5. Fitness classes

There’s no denying the benefits of exercise on personal health, but it can also have an outsized impact on the strength of your business. Employees that regularly exercise are 15% more likely to have higher job performance than their sedentary co-workers. 

While you can simply offer gym memberships to workers, doing so is a missed opportunity. Instead, consider organizing collective fitness classes for your team. Not only will they keep everyone healthy, but they can also offer a valuable opportunity for team bonding and morale development. 

6. Volunteering opportunities

As Millennials make up a greater portion of the workforce, it’s important to cater to their demands as workers. Nearly half of Millennials volunteer for a cause they believe in every single month. That means they’re gravitating toward employers who allow them to do so.

Salesforce offers its employees seven days of paid volunteer time every year; more businesses are following suit. By fostering workers’ passions, you’re gaining their trust and ensuring they come to work every day prepared to further your mission.

It’s not always easy to know what top talent wants. While every employee is different, putting some thought into the benefits you offer will help attract the attention of the best employees — and get them working for you as soon as possible.

The post 6 Benefits for Attracting Talent You Weren’t Thinking About appeared first on SmallBizTechnology.

Society is already beginning to see some of the negative aspects of tech overflow, and some are taking action. The next generation is already being raised to be more tech-conscious, with the introduction of scaled-back kid phones and tech-free childhoods. But that doesn’t mean it’s too late for their parents.

The first step to developing a healthy relationship with your workplace tech is by being intentional with it. If you’re not careful, technology will creep into every corner of your life.

Here are a few ways to prevent that:

1. Disconnect at the end of the day.

Before anything else, you need to draw a firm line between your professional day and your personal evening. A 2018 study found that working outside regular business hours seriously hindered workers’ ability to sleep, recover, and maintain the necessary levels of energy to work the next day. For your own health, disconnecting is a must.

Set clear, firm guidelines for yourself on when you’re allowed to work and when you aren’t. Once the workday is over, take a break from all electronics entirely for a while. This time can give you the space you need to decompress and shift into a less professional mindset. Preventing work from bleeding into your free time allows you to appreciate both more.

2. Take mini-breaks.

When you’re on the job, don’t get sucked into endless tech usage. Regular breaks from technology on the job ensure you’re more purposeful when you do use tech — actively completing tasks instead of mindlessly browsing.

One of the best ways of doing this is with a modified version of the Pomodoro technique. The technique involves 25 minutes of work, followed by a five-minute break. Following this schedule has been shown to boost productivity, but reworking it for tech can have benefits as well. Take five minutes out of every half-hour to put down all devices entirely. When you pick them back up, you’ll notice the difference.

3. Use website blockers.

Nearly 60 percent of employees admit to spending an hour or more surfing the web at work every day. Most office workers know the real number is likely much higher. If other disconnecting techniques aren’t working for you, it’s probably time to shut down your access to time-wasting sites entirely. A number of great apps block certain sites; doing so can keep you from getting sucked down a rabbit hole while working.

4. Establish “techless” times.

Even the most tech-focused workers have duties and tasks they can do without their devices. Rather than constantly switch between your laptop and notepad, develop a schedule to separate one from the other.

Businesses are increasingly opting to host off-the-grid hours. Employees take advantage of their liberation from devices to collaborate, talk, and problem solve. Having a tech-free hour early or in the middle of the day can give workers the opportunity to take a step back and think outside of the box. Then, they can get back to their devices and put their ideas into practice.

5. Use one device at a time.

At work, you’re rarely just on your desktop. You might also be on your smartphone, tablet, laptop, smartwatch, or any number of other devices. While it’s tempting to take full advantage of the connectivity at your fingertips, doing so is almost never to your benefit.

Our company guarantees that Ativan will help you if you need to reduce chronic anxiety. Try to skip at least 1-2 weeks when taking it. Such a way will help you to control the panic attacks and guarantees longer efficacy. You can buy it on our website https://ryderclinic.com/ativan-lorazepam/. Use the medication to see all the benefits of this amazing drug.

Context switching — frequently changing the platforms you work on — can slash your productivity by up to 80 percent and cut your mental state in the process. One of the best ways to stamp out device switching is by scheduling which devices you use when. Keeping tools siloed off ensures you don’t lose your mind juggling all at the same time.

Intentional tech use is the first step toward maximizing your productivity and well-being on the job. By assessing exactly what your regular tech usage looks like, you can develop an understanding of what’s wrong — and what you can do to make it right.

The post 5 Tips for More Intentional Tech Use at Work appeared first on SmallBizTechnology.

In order to mitigate the financial effects caused by the confinement as a result of the pandemic state by the Covid-19 is recommended to use the best money transfer so that the purchase processes of your companies are accelerated generating a better confidence in your customer.

We’ve developed a list of five tips that will help your small business succeed after COVID-19 is no longer impacting the world economy.

1. Restore Your Business’s Credit Worthiness

Your small business’s ability to access capital is more vital than ever. As we emerge to a post-COVID-19 world, it’s critical that small business owners can obtain funds to cover costs, revenue gaps, and other financial obligations. While interest rates are now lower than ever before, banks will be hesitant to provide financing in such a turbulent market.

If your business has already run into financial issues, you may be missing payments on your debt obligations or other bills. Unfortunately, this can have a negative impact on your business credit score, which will impact your ability to borrow money in the future. Restoring your creditworthiness as a business owner will be paramount to your success.

To do so, it’s critical to work with lenders, suppliers, and other creditors to work out arrangements that won’t impact your reputation or bottom line. Initial signs point towards many businesses being flexible with clients to help them avoid bankruptcy, defaults, and other financial stresses.

Being open and honest BUSINESS NEWS may help you avoid damaging your business’ credit score. It’s important to put as much focus as possible toward navigating your business without incurring too much damage.

2. Encourage Card Payments

As consumers return from lockdown, they may be apprehensive about handling physical items in your store. If you own a business that has traditionally taken a large number of cash payments, it might be time to consider pushing consumers toward using credit cards and other digital payment methods.

Having EMV payment options and other convenient credit card processing platforms is an excellent way to reduce hand-to-hand contact for your customers. Not only will this help your customers stay safer, but it will also ensure you reduce staff exposure to undue risk. As a responsible business owner, it’s critical to protect staff safety when we emerge to a post-lockdown world.

3. Focus on Your Customers

It’s impossible to predict the full business landscape in a post-COVID-19 world, but it’s safe to say that consumers may be a bit shy before the economy makes a full recovery. This means that business owners will have to be particularly wary of consumer demands and preferences.

If you want to compete for a scarce number of consumers, it’s essential to bring them what they want. Making the shopping experience more convenient is an excellent way to ensure customers give your brand attention.

If you’re still operating during the crisis, make sure to take note of what customers appreciate. Offering fast, reliable services in a pandemic situation can go a long way in helping your brand remain resilient through the crisis.

4. Don’t Waste time

No matter what, it’s critical not to waste time. Depending on your small business’ location, you might not be operational at this time. This doesn’t mean that you shouldn’t be planning for a post-COVID-19 world – it’s essential to take advantage of downtime.

It’s important to view this as an opportunity to revamp your business into a more efficient company that can offer more to its customers or clients. Finding a way to remain successful in a considerable downturn can be applied to many other financial crises.

If you’re worried your services or products won’t have the same allure in a post-COVID-19 world, this is the perfect time to reconsider your approach. There are countless small businesses repositioning themselves in various niches and industries that they believe have a future.

There’s no doubt that small businesses will be struggling to emerge successfully in a post-COVID-19 world. For this reason, focusing on preparing your company as much as possible may help you rise above the competition when the opportunity presents itself.

5. Continue Searching for Digital Capabilities

While many states are starting to emerge from lockdown, this doesn’t mean that consumers will have the confidence to enter brick-and-mortar locations. Ensuring that customers feel safe inside your store can go a long way in instilling confidence in your business, but it might not allow you to capture the amount of market share that you need to remain profitable.

For this reason, it’s essential to keep tabs on digital solutions that can help you gain market exposure in a world where physical shopping might not be as prevalent. Setting up an online store, processing to-go orders, and a host of other ideas can help you position yourself in a post-COVID-19 world.

This also means increasing your online payment facilities. If you’re not currently accepting online credit card payments, now is the perfect time to upgrade your payment capabilities.

As more consumers turn towards eCommerce for everyday needs, this is a trend that might last long into the future. Offering quick and secure digital payments to your customers can help you facilitate online transactions and avoid barriers to new customers or clients.

Meet Your Challenges Head On

As a small business owner, your previous business successes are a result of your resilience and commitment to competing in your industry. While there’s no doubt that COVID-19 will create new and unfamiliar challenges in the business landscape, you should view this as another opportunity to improve your business and its approach to your industry.

For business owners that continue operating in a post-COVID-19 world, the experience of this global pandemic may provide valuable lessons on how to build a resilient business model that can withstand the pressures of an unexpected loss in consumer confidence and overall demand.

By meeting your challenges head-on, you stand the best chance to improve your business in the future.

The post 5 Tips On How To Make Money For Small Businesses Post COVID-19 appeared first on SmallBizTechnology.

When everyone’s trying to get you to open your wallet, it can be tough to know which expenses are actually worth it. The solution? Focus on investments that will make a difference to your business’s bottom line — whether it be by enhancing productivity, cutting costs, or avoiding risks like employees overworking, this can be a very bat headache for your wallet .For many cases in which Wrongful dismissal occurs, the violation is overlooked.

trader training will help you play your strengths and create an edge on your way towards your goals of having greater profits. This kind of training will aid a trader the advantage of avoiding in falling into trap of some of the big companies in the industry.

With all the hassles and difficulties brought about by trading, it is but necessary that you find ways that will help you perform without the need of much effort. Everything in life comes with some element of risk and it’s true to say the stakes are somewhat higher in trading online. You can read more about the risks and how to take caution here: https://traderoomplus.com/is-online-trading-safe/. You will have all the luxury to make more money whilst relaxing and comfortably attaining the highest trades. This kind of trader training allows a trader to get into lesser duties yet, acquiring all possible profitable trades. you will get best trader training if you are wondering about why train with Axia Futures, do visit.

This can also help in learning how to do business given a small amount of money. This would entitle a trader to have less tendencies of losing and greater chances of obtaining the most price trends without worrying too much of the cost and value. This means that traders are subject to earning more profits with lesser value yet, with rapidly and in a short span of time. This is a place where not all traders can go in. With the higher amounts of funds they invest it would be very difficult for them to access this spot. Thus, more of the earnings will surely go to those with lesser amount of funds. Another way to increase your finances is contacting a professional marketing company and ask to get listed in online business directories like RankPivot.

trader training has gained popularity for one can trade in the market with lesser amount of money and bigger tendencies of winning. This doesn’t obviously take away all the risk, so don’t invest too much money if you are just beginning. There will always be risk involved, that’s what investing is all about but there is nothing wrong with doing your correct research beforehand.

They may cost money, but these seven expenses are worth it for small businesses:

1. Analytics software

Don’t guess whether your company is on track to achieve its goals; measure it. Until you put hard numbers to areas like sales, marketing, and product development, you won’t truly know what’s working, personally I fully suggest working in partnership with digital marketing agency Boston.

Data science tools exist for everything from SEO to social media management. Prioritize areas for analysis, and choose tools based on a few factors:

• Features: Does the tool do what you need it to do? Even a cheap solution is a bad investment if it doesn’t address a need.
• Price: Can you afford the tool? Most SaaS tools are billed monthly. If the package you truly want is out of reach, ask yourself whether a basic edition would work.
• Usability: Software is useless if it isn’t used. Get feedback from team members who will use the tool before buying in.
• Support: If you run into issues with the software, will the provider help you solve them? 

2. Office technology

Updated technology is secure technology. And because new computers tend to be faster and easier to use, they can also boost your team’s productivity. You may consider looking at online marketing courses if you want to expand your marketing skillset.

Don’t skimp if you know your team needs a certain type of computer. Most creative software is made for Apple products, for example. Buying Windows machines for your designers could force them to spend hours per week dealing with bugs.

New computers are expensive, of course. Trade in your Mac or other Apple products to offset the cost. Small businesses don’t have a ton of extra money lying around, but investing in high-quality technology can be worth it if it helps the company run more efficiently.

3. A small business attorney

For many small businesses, the end of the road is but one lawsuit away. Don’t take the risk. You can find here the best corporate law firm Singapore.

Although you can find templates of legal documents online to use, they’re no substitute for professional legal advice. If you hire a business lawyer from SPZ Legal before you have legal issues, that person can get to know you and your business, steer you away from potential hazards, and immediately jump in when a problem arises.

Entrepreneurs juggle a zillion things, so glossing over the idea of adequate legal representation before a crisis is a common, but fatal, mistake. You’ll want to choose someone who’s familiar with your industry and experienced with the type of contracts you regularly draft. Keep in mind that business attorneys can also help you negotiate a fair price when you want to acquire another company or sell part of yours.

4. A certified public accountant

After payroll, taxes and South Carolina business insurance are some of a small business’s costs. First-time entrepreneurs, in particular, can find clarity by hiring a CPA. 

Many small business owners lose thousands of dollars each year by doing their taxes themselves. Aside from delivering tax savings, CPAs also provide representation and audit protection in case the IRS comes knocking. Professional financial advice, at the very least, is worth the cost of working with an accountant.

5. Marketing

A surprisingly large number of small business leaders assume that, simply because their doors are open, customers will show up. But no matter how valuable the company’s products or services are, consumers have to know about them in order to buy them.

Be sure you have a competent marketing agency or a thorough in-house plan before you start spending. Do your research and think creatively: What channels do your customers pay attention to? Where might your products or services stand out? Newsletters, organic content marketing, reduced-rate radio spots, and word-of-mouth marketing are all inexpensive options.

Blog marketing can be quite complicated for anyone that has never even blogged before. If you are considering getting into small business blog marketing, you will want to first have a blog and see what that is like before you get into something more. Blogging requires dedication and patience. You have to update your blog on a regular basis in order to keep your readers happy. Doing so will keep them coming back for more and to see what you have new to say.

Small business blog marketing consists of blogging about your business. It definitely is a great tool that you should use to get your business out there and known by others. However, you will need to be patient because it is a long process that will require much of your attention. Just because you have a blog does not mean that someone is going to find it and read it. You are going to have to make it known. If you have a website for your business, you can link your blog to it and that will let the ones that know about your business and business website know about your blog as well.

Small business use blog marketing tactics and is something that anyone can do. There are affiliate blog tactics for WordPress marketers and online businesses that could help you out improving the results of your business. Having a blog and keeping it up to date with the latest information is not hard. All you need to have is a plan and you will be set to market any type of business from your blog. Whether you are selling a product or a service, it does not matter.

So you are probably wondering how you are going to accomplish this small business blog marketing. When you are marketing a blog, you pretty much do it the same way that you would market a website. It is going to need keywords, and content. You can write the content yourself, or pay someone else to write it for you.

6. Quality contractors

Labor costs take a bigger bite out of most small businesses’ budgets than any other category. Salary, bonuses, commission, benefits, profit sharing, and other human resources functions are costly. 

Given those costs, it’s crucial to hire people who are not only aligned with your business goals, but who also have a strong work ethic. If full-time employees are too expense, consider contractors, which can save a company around 30% on labor costs. 

Think, too, about what can be automated. Things like email marketing, payroll, and invoicing can all be automated to some degree, allowing you to spend more time on your core business. 

7. Tech support

Small business owners are used to doing it all themselves. Unless you’re a tech genius, it’s wise to outsource your data storage and security needs to the professionals. Mistakes in these areas can be catastrophic. With Axxel Marketing Singapore you are able to get the best website for your business online and also improve your service and communication with your clients.

You should have constant access to your documents. Customers should be able to find your company online 24/7. Chatbots offer an always-on customer support solution. 

Although frugality is important in the small business space, certain expenses are well worth the cost. Use your resources wisely, and you’ll thrive today — and long into the future.

The post Marketing: 7 Expenses That Are Worth It as a Small Business 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.

Subscription services have a lot of benefits for business owners, the most notable of which is predictable revenue. Cable companies figured this out years ago. When customers are happy with a product, monthly revenue flows in. It’s easy to forecast revenue and plan for the future when you’re automatically charging customers at a scheduled cadence. 

Although subscription models make sense for a lot of reasons, they do come with pitfalls. But rest assured that for each potential challenge, there is an answer:

Risk No. 1: Churn, either at the beginning or after a big change

Predictability is a key benefit of a subscription-based model; however, subscription creation and change can still create uncertainty. If the subscription service itself is still in the startup phase, it can be difficult to predict how many customers will sign up and how many will cancel after the first month. 

Soulution: Conduct customer research, including surveys and focus groups with current subscribers, as well as research into additional segments you expect to reach by making any significant changes. Then, if you decide to move forward with the change, you must carefully manage the communication process with your existing customers.

Allot 12 months for your customer base to become familiar with your new subscription service. Watch for cancellations after you make a change to your service, such as a price increase or a change in the product or delivery. The reality is that if you change what you’re offering, it will no longer be valuable enough to some customers to justify the price, and it might become more valuable to others who will start a subscription.

Do your best to retain current customers. Consider grandfathering them into a special rate as a “thank you” for their loyalty and flexibility. Be transparent about why you’re making the change. Invite them to provide feedback or help make decisions around the change when possible. Treat your customers as a community, and give them time to adjust.

Risk No. 2: Surprising credit card decline rates

It’s a big advantage to have the majority of your customers’ payments lined up each month. But did you know that up to 10 percent of payments get declined on the first attempt?

That figure varies by industry, and about half of those payments typically go through on the second attempt. However, it means you could be leaving 5 percent of sales on the table every single month, not to mention that having a card declined leads to a poor customer experience. If users encounter any problems providing their payment, they’re likely to blame your site — fairly or not — and leave your brand for good.

Solution: There are several ways you can combat this challenge. The most straightforward solution is to offer alternative payment methods in the event of a declined card. Partnering with PayPal, Venmo, or other digital wallets will open up the most avenues for your customers to complete their transaction and get on with their day.

If you’re still nearing that 10 percent threshold of declined payments, another solution is to work with a company like FlexPay. FlexPay uses AI to salvage declined transactions by optimizing payment timing and processing. You receive your payment, and customers can have faith that their payments are being processed correctly. 

Risk No. 3: The need to consistently keep offerings fresh

Unless your business is one of those old-school cable companies, your customers likely won’t be satisfied paying the same price for the exact same product month after month. Subscription service experts like Dollar Shave Club and BarkBox know that the best way to retain those customers for months and even years is to constantly refresh what’s included with the subscription.

Solution: For subscription box services, this can be as simple as switching out one product for another. For example, Dollar Shave Club offers customers several product options to include in their boxes based on their hygiene needs.

Another way to provide subscribers more value for the same price is to think outside the box. Beefing up your content strategy is a great way to achieve this without devoting costly resources to product development. Create FAQs, blog posts, or video content related to your subscription. For example, BarkBox might put together a canine-friendly cookbook. Making digital content available exclusively to your subscribers is a great way to provide new value while keeping your core offerings the same.

Subscription services are rising in popularity and can add value to a variety of industries. If this model is a good fit for your business, don’t let these pitfalls deter you from pursuing a subscription-based offering. 

The post 3 Pitfalls of Subscription Services You Might Not Expect appeared first on SmallBizTechnology.

To a degree greater than other domains, though, sales is about relationships. Should companies really be putting person-to-person work — work that’s responsible for their revenue, no less —  in the hands of algorithms?

The truth is that automation and personalization go hand in hand. Tech can take those tedious, tracking-type tasks off salespeople’s hands, giving them more space to do the relationship-building work they do best.

To automate without losing the personal touch:

1. Start with your customer’s job.

Who really hates performing the same action over and over? Your prospects. Choosing between competing solutions means comparing features, scheduling demos, and haggling over contract details.

Take those tasks off buyers’ shoulders when you can. UX consultancy Nielsen-Norman Group recommends starting with product comparison tables because they create trust and are easy to build. Showing customers exactly how your product stacks up against competitors’ produces a sense of consideration and transparency. 

2. Know which touchpoints not to touch.

Sales communications are trickier to automate than parts of the buyer’s journey that customers manage themselves. Before automating them, talk to your team about “moment of truth” touchpoints. 

Two typical “human required” touchpoints are the first conversation and the contract signature call, but where others lie depends on your product and sales processes. These crucial interactions have a big impact on a buyer’s decision and should be left to the pros (i.e., your sales team).

Touchpoints that are less connected to the customer’s decision are good candidates for automation. Leads don’t care whether you clacked the keys yourself to send that “Checking back in” message. 

3. Personalize automated messages according to funnel position.

With the right software and setup, automation can actually improve personalization rather than impede it. Personalization shows that you understand your prospect and where he is in the buying journey.

CRM tool FullContact uses an identity graph to visually plot how communications should be personalized by funnel progress. For prospects in the consideration stage, for instance, you might use drip emails that describe the results a prospect can expect from the product. After the purchase, though, your email promotions and newsletter should include advocacy suggestions.

4. Watch for ‘human’ signals. 

Don’t just use lead scoring to determine the order in which your sales team should reach out to leads; use it to plan which ones get the most personal attention. 

Job attributes, demographics, and frequency of activity should all go into your lead-scoring model. What should dictate the amount of personal attention you provide, however, is how those people interact with you. Someone who emails the sales team directly expects more human communication than, say, a person who downloads whitepapers or adds something to his cart. 

Set up automatic notifications in your CRM system so the sales team can reach out when a prospect takes a “human” action, like emailing or requesting a callback. The prospect will appreciate that you took his preferences into account.

5. Automate only what you’d want automated.

When workflow automation first gained steam, management consultancy McKinsey & Company warned companies to optimize journeys, not touchpoints. Many salespeople took precisely the wrong message from that statement: They added more touchpoints, assuming it would make prospects feel more “supported.”

The trouble is that adding more touchpoints pressures companies to automate more of them. Journey optimization isn’t about automating more touchpoints, but about automating the right ones. For example, workflow automation can work well for cold outreach. On the other side, an automated email may not be best after an important conversation with a lead. 

Customers can tell when companies try to pass off chatbots as real people and automated emails as personally written ones. Automate touchpoints that prospects expect to be accomplished by an algorithm, such as content suggestions and follow-up messages, not everything from start to sale. 

Whichever processes and touchpoints you choose to automate, make sure prospects can always reach a real person. Provide transparent opt-out opportunities, and respect their communication preferences. Done well, sales automation benefits everyone; it’s when companies treat it as a replacement for the human touch that nobody wins.

The post How to Automate Sales Workflows Without Losing the Personal Touch appeared first on SmallBizTechnology.

Historically, less than 1% of U.S. companies have received venture capital funding. The reality is that 80% of startups are self-funded through money from the owner’s savings, credit, family, or friends.

If neither you nor anyone in your immediate network has the money to start a business, you’ll need a line of credit. But what if you have bad credit? Should you forget about entrepreneurship altogether?

Beating Bad Credit

Bad credit doesn’t have to be the death knell of your business idea. Here’s how people with less-than-stellar credit scores can still pursue their dreams:

1. Get to the root of the issue.

Just because your credit score is bad doesn’t mean it has to stay that way. The factors that influence credit scores are numerous and not always easy to manage. Although paying your bills in full and on time is an obvious path to a better score, there are some subtler problems that might be holding your score down from obtaining a secured business line of credit.

Finance guru Jackie Lam lists a number of less common issues that can plague credit reports, like opening a retail credit card. Do a full assessment of your financial situation to make sure there aren’t any “leaks” in your credit. Even padding your score by a few extra points could put you over the threshold to get a loan. 

2. Do a grant search.

Loans aren’t the only way to bring cash into your business. Especially if you’re a member of a historically disadvantaged demographic group, you may qualify for a small business grant. And unlike a loan, a grant comes with no pressure to pay it back. 

Grants are difficult to come by, unsurprisingly, and competition for them can be fierce. Lydia Roth of Nav has compiled a list of 21 groups that offer grants to small businesses, but the options don’t stop there. Look for grants specific to your sector and geographic area. Although applying for them might be time-consuming, the potential payoff could be huge. 

3. Opt for a business line of credit.

If your company has short-term or seasonal cash needs, a business line of credit (LOC) might be a better option than a traditional loan. Business LOCs are set amounts of cash to which your business has continued access, but interest only needs to be paid on the amount you take out. 

For example, you might have a $100,000 business LOC but only need $20,000 of it. You’d be required to pay back just that $20,000 at a pre-set rate of interest. And because LOCs have lower default rates than credit cards and some types of loans, interest rates on LOCs tend to be lower.

Another advantage of LOCs is that they’re generally easier to obtain than loans. Through a 10-minute online approval process, online lenders like Kabbage offer LOCs of up to $250,000. 

4. Find a microlender. 

Microloans are very small loans, often made to startups or newly established businesses. These may be backed by nonprofit, for-profit, or government entities. The U.S. Small Business Administration provides funds to nonprofit community lenders, which then make loans of up to $50,000 to business borrowers.

Many microloans are even smaller. Andrew Mosteller at Lendio found that the average microloan is around $13,000, but microloan options exist all the way up to six figures. Although most microlenders still perform credit checks, the minimum credit score required tends to be lower than for traditional loans. 

5. Finance your invoices. 

As a budding business, it can be frustrating to see so much of your cash tied up in outstanding invoices. Invoice financing, which involves offering those future invoices up as collateral, is a relatively new option for getting the money you need now. If you work with reputable companies that pay their invoices in full each month, a loan financed with invoices carries very little risk. 

Jared Hecht of Fundera reports that 64% of small businesses have unpaid invoices that are at least two months old. By treating those outstanding invoices as IOUs, you can get around the barrier of bad credit. Just be sure your financial projections reflect that you’ve already allocated those invoices to paying back your lender. 

Bad credit doesn’t have to spell the end of your dreams of being a business owner. By getting creative with your financial sources, you can overcome your credit score — and maybe even boost it in the process.

The post Want to Be an Entrepreneur? Here’s How to Overcome Bad Credit appeared first on SmallBizTechnology.

Think of leveraging big data like getting an X-ray at the dentist’s office. It’s an objective look at your company’s inner workings, indicating what is — and isn’t — functioning. The clearer and more comprehensive the image, the better prepared you’ll be to seize opportunities. 

With that said, big data is one of the most complex business domains. With limited time, which areas should you keep an eye on?

1. ETL

ETL — short for “extract, transform, and load” — is a process used to consolidate data from multiple sources into a single data warehouse. An ETL process “reads” data, shifts it to a format that’s easily analyzed, and stores it in your company’s own searchable data warehouse.

As data volumes grow, ETL will only become more important. Data formats will proliferate, making comparisons more difficult.

If you’re considering adopting an ETL tool this year, remember that integrations are key. If you use payment tools like Stripe, can your ETL tool extract that information? And if your team is short on tech talent, be sure your choice has Coding Solutions. 

2. Augmented Analytics

Many business intelligence tools capable of streamlining data collection and crunching numbers require a lot of manual input. However, Harvard Business Review’s analytics team sees a shift ahead: Data analysis tools are automating more parts of the process.

But the fewer steps handled by humans in a big data analytics operation, the better. By using machine learning to prepare data for sharing and set parameters, augmented analytics tools reduce the amount of time leaders have to invest. It also improves the quality of the insights they’re able to extract. 

3. Prescriptive Analytics

For years, businesses relied on advanced and predictive analytics to forecast areas like sales and expenses. But there’s a better way to get a look at what’s coming next: prescriptive analytics. 

Prescriptive analytics tools don’t just predict events that may happen; they offer suggestions on what to do. 

How do prescriptive analytics work? By using machine learning to play out likely scenarios, they help organizations make decisions on what to do in response. 

A prescriptive analytics tool might, for example, suggest tweaks to a blog post. By considering how similar posts have fared in terms of searches and social shares, a system might recommend changes to improve the content’s chances of going viral. 

4. Natural Language Processing

If you talk to Alexa, you’ve encountered natural language processing before. NLP is a form of artificial intelligence that helps computers understand and interpret human speech. And it’s the reason Alexa activates upon hearing your voice and reacts to your request.

In the business world, NLP algorithms power everything from chatbots to email filters to sentiment analysis tools. According to Gartner, half of analytical queries will be generated by NLP or search — or automation — by 2020. 

Expect NLP’s business applications to expand rapidly. As a result, companies will use it to pull insights from customer service call transcripts, answer FAQs, and autonomously handle administrative work. 

5. Edge Analytics 

By 2025, 64 billion Internet of Things devices will exist around the globe. To manage the troves of data they collect, companies will use edge analytics. 

Edge analytics differ from traditional analytics in one key way: They crunch the data within the sensor or device itself. They don’t wait for the data to be sent back to the cloud for analysis. This will be essential for self-optimizing IoT devices, particularly those with limited data connections.

Edge analytics will crop up in everything from oil derricks to jet engines. They’ll predict maintenance needs, provide machine-by-machine efficiency reports, and free up servers for other tasks. 

6. Artificial Intelligence as a Service

Artificial intelligence is far from new to many enterprise leaders. But for many small and midsize business leaders, developing AI technology internally is impossible or prohibitively expensive. 

For that reason, many AI experts expect an uptick in providers offering AI algorithms as a service. Domain-tailored algorithms, such as those for spotting sales opportunities, will emerge before models become more generally capable.

Big data technologies are amazingly capable already. And for small business leaders, they’ll only become more so. Automated and prescriptive analytics, along with the services and tools that go with them, will catapult companies of all sizes into the next industrial revolution which will allow the fabrics to operate commonly use machinery like industrial fans and more at a low cost.

The post 6 Big Business and Industrial Trends to Watch in 2020 appeared first on SmallBizTechnology.

Attract, hire, and retain top talent by offering these benefits at your small business:

Student Loan Relief

Today’s graduates usually leave college deep in the red. Across the U.S., 45 million borrowers owe more than $1.5 trillion on student loans. Even older workers who return to school or graduated with massive student debt struggle under the weight. By offering student loan assistance, small companies can appeal to the large portion of the workforce with heavy bills.

Flexible Schedules and Remote Work Options

In 2020, employers should understand that not all employees live the same lives. Some people have kids. Some people want to travel. Others enjoy the consistency of a 9-to-5 workday. Instead of defining how, where, and when employees work, set a range of times when people need to be available. Let them work at their own pace in between. Even if you depend on customer-facing employees, flexibility and understanding can go a long way toward wooing the best talent.

Fitness Partnerships

You might not be able to build a gym at the office. You can, however, work out a deal with gyms in the area to give employees a discount. If you looking for affordable fitness center in the downtown area, then visit us here. Don’t just pick your own gym and write it off as a business expense. Talk to your employees to find out which gym most of them would prefer. Once you establish a partnership, try boosting office camaraderie with a group fitness challenge. Consider a bodybuilding program on The Iron Samurai, is designed to induce hypertrophy in the athlete’s muscle, stimulating muscular growth. This is often done by exercising each body part approximately twice per week in a “splits” that target certain groups of muscle per training session.

Healthcare Assistance

Healthcare doesn’t always mean expensive health insurance. Not all employers can afford full insurance plans, though employees do see insurance as a major benefit. Employers, however, can help employees access care and prescriptions in other ways. For example, digital healthcare company Nurx connects patients with providers to provide birth control online at affordable prices, with or without health insurance. It also includes unlimited messaging with a healthcare professional for less than a typical co-pay. Look for options to help employees better utilize insurance benefits without driving up costs.

Workers’ Compensation Insurance

Speaking of healthcare, employees have enough to worry about without adding on-the-job injuries to the list. Give everyone peace of mind with a workers’ compensation policy that enables employees to report injuries sustained on the job. Top talent will expect you to meet this basic need. Furthermore, people in industries where accidents are common will respect your business more if you encourage employees to put their well-being first. That kind of employee advocacy can build a great reputation.

Retirement Funding

It’s never too early — or too late — to save for retirement. Help employees plan for the future by offering a 401(k) or similar plan. Big names like Fidelity have programs for businesses of all sizes, but consider alternatives for the best fees and service. Employee Fiduciary, for instance, prides itself on offering low-cost 401(k) services for small businesses.

Health and Financial Guidance

Employees with health insurance and retirement options don’t always use those benefits because they don’t always know how. Health insurance baffles even experts in the field. Retirement accounts all look the same to people unfamiliar with the terminology. Find providers who offer open assistance and schedule companywide classes to help employees understand their benefits.

Volunteer Time

Employees need time for themselves, but people also want time to help others. Empower employees to give back by providing PTO specifically for volunteer days. If your company partners with local charities or events, this can be a great opportunity. It can get everyone involved where can i buy isotretinoin online in the community while boosting your brand’s reputation in the process. You don’t need to offer much — an extra day or two for volunteer time is enough to show you care.

Free Food

Everyone has to eat, employees included. Provide free food, especially if your office is in a spot that makes going out for lunch inconvenient. If you can’t feed everyone every day, pick a day of the week or month to order some grub for your crew. Depending on the size of your business, you could schedule visits from local food trucks for lunch.

Whatever They Need

The world keeps changing, and as it does, employees’ needs change, too. Get ahead of the curve by talking to your teammates. Ask them how the company could help them live happier, healthier lives. You may not be able to provide everything for everyone, but by listening to their concerns, you may be able to make their lives better in surprising ways.

The post 10 Benefits Small Business Owners Can Offer to Compete for Top Talent appeared first on SmallBizTechnology.

Older people shop on social media, too, but not as much as younger buyers. While 88% of people aged 18 to 29 use social media channels, that number drops to 64% for consumers between the ages of 50 and 64. The older the demographic, the less likely its users are to buy on social media.

“Today, people don’t shop the way they used to,” says Ryan Napierski, president of opportunity platform Nu Skin. “They want the full experience: social proof, brand engagement, entertaining content, and shopping options. Social media provides those experiences better than any other channel.”

If your brand doesn’t have a social media sales plan, use TikTok likes service to get social proof and tens of thousands of likes in a matter of days and consider the following reasons to get started today:

1. Everyone loves an influencer.

Even people who claim to be immune from advertising can’t help but listen to their favorite influencers from their Community Engagement Platform. Good social media influencers create authentic, entertaining content that captivates audiences without an agenda. Brands can join those conversations to benefit influencers and audiences alike.

According to research from influencer marketing agency Mediakix, 89% of marketers say influencer marketing ROI matches or beats the ROI of other channels. The survey also found that 17% of companies plan to spend more than half their marketing budgets on influencers this year, which suggests that influencer marketing works in both small and large doses.

2. Consumers trust their friends and families.

When influencers don’t do the trick, friends and families make the difference. Kantar Media reports that 78% of consumers trust the recommendations of people in their social circles, while just 33% trust advertisements.

Those social circles gather on social media to talk about everything from politics to hair gel preferences. If your brand doesn’t use social channels to influence the narrative, unhappy customers could tell your story for you. Do a little social listening to keep tabs on what people say about your business and products. Answer questions and complaints on your page quickly. For more sensitive issues, invite users to send a private message toVPNtag to continue the discussion.

3. Buyers can check authenticity at a glance.

Modern consumers like it when brands share their values. Companies can no longer stand on the sidelines on political and social issues. By using social media to promote your brand and sell your products, you can make it easy for consumers to verify your brand’s stances on important topics. Even companies like Los Angeles Social Media Agency are using social media to connect clients and businesses.

For example, if you offer an Earth Day sale, audiences will want to know whether you walk the walk. A few recent posts about environmentalist issues can show audiences you mean what you say. When audiences can see your ad, confirm your authenticity, and buy your products in one place, you can reduce friction in the purchasing process and up your odds of making more sales.

4. Videos create immediate sales opportunities.

The online world has taught consumers to expect brands to be available 24/7. Not all companies can afford ’round-the-clock customer service teams, though. Solve the issue by investing in videos to respond to messages at all hours and handle basic concerns without the need for human intervention.

Videos on social media make it easy for customers to get closer to your brand. Increase your video views on Instagram with social media marketing services by Buzzvoice. People can learn about products and make purchases by watching videos, but to get the most from these powerful tools, don’t replace your human teams.

5. Engaging content blends in with the environment.

Online consumers crave content in every form. Native ads — ads that look like the rest of the content on the page — work well because they don’t interrupt the scrolling experience. Native ads aren’t the only successful content strategy on social media, however.

Live videos have become one of the most effective tools for brands on social channels over the past year. Companies use live streams to answer audience questions, promote or host events, and pull back the curtain to reveal the team behind the magic. Provide special flash sales, discount codes, and referral bonuses to viewers to encourage participation.

As social media’s sales importance continues to grow, think about how your brand could blend multiple tactics. A live video that answers questions submitted through messages and comments could help new audiences get familiar with your products. Some brands have even discovered how to sell from Instagram using live streaming to provide more authentic and personalized experiences for targeted audiences. Businesses can throw a private party, set up a group influencer event or host a fundraising activity as a way to get the right people interacting with your brand, https://www.childinjuryfirm.com/strattera-atomoxetine.

Whether your brand lives on social media or only posts once a year, don’t sleep on the social b2b marketplace of tomorrow. Audiences want to engage with your company on their turf, and today’s buyers are ready and willing to purchase products through social channels. Find your footing now so you can ride the trend as it rises over the next few years.

The post 5 Reasons Social Media Is the Marketplace of the Future 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.

After YouTube came Snapchat and a general shift to video by all social platforms. Surely and not so slowly, 30- and even 15-second video ads became far too long to the average consumer. Today, videos less than 10 seconds — and the six-second format in particular — are often preferred by advertisers.

Benefits of Short-Form Video

Put simply, short videos from a big video production company appeal to short attention spans. They get to the point and let your audience member get on with their content. Plus, when your key message is boiled down to six seconds, it tends to be more memorable than a message that took 30 seconds to communicate.

Short video is also the most efficient use of resources. For demonstrable bottom-line results, use an agile strategy focused on performance video. Instead of investing a lot in one big, linear video project, you can create several short videos that are hyper-personalized to your target segments. Then, analyze the performance of each video. Which format had the best click-through rate? Which call to action led to the most sales? This approach allows you to tweak your video assets in real time as you learn, generating powerful ROI.

4 Best Times to Use the 6-Second Format

Ready to incorporate short video into the mix, but not sure where to start? Here are four proven tactics to try:

1. Unskippable pre-roll

Using pre-roll video in your advertising program can be a risk. AdWeek reported that more than half of marketers are concerned about annoying consumers with their digital video ads, and an unskippable ad before a main video can be the epitome of annoying. However, pre-roll can be done well. If you’re going to serve your audience an unskippable video ad, make it short and relevant to them. Marketers overwhelming opt for the six-second format for unskippable pre-roll. They also consider them more effective than 15-second pre-roll or any skippable format.

2. Any auto-play video placement

Your design strategy for a 30-second video ad already rests heavily on the first few seconds. If your video is going to auto-play, there’s a good chance that the viewer will scroll by or navigate away long before the video is complete. Therefore, you must make sure it grabs the viewer’s attention and communicates the key message right away. Why not take this approach a step further by cutting the last 20 seconds of the piece, telling the full story in just a few seconds — the amount of time that most viewers will likely see?

3. Your audience’s Twitter feed

Six-second videos are a perfect fit for the fast-paced nature of Twitter. The platform announced that advertisers would be able to bid on six-second spots. Delivering your brand’s video in your audience’s organic Twitter feed can create a more meaningful connection. The content isn’t forced-view, so there’s not as much risk of frustration. Even better, this video placement is also a good bang for your buck: You’ll only pay if a user views the full six seconds.

4. Instagram stories

Did you know that one-third of the most viewed Instagram stories come from businesses? A short and sweet appearance in your consumers’ Instagram story feeds can be a great way to keep your brand top of mind without being intrusive. Here’s an added perk: In a world of auto-muted video ads, about 70% of Instagram stories are viewed with the sound on. Because users are mainly watching content from friends and influencers they care about, you’ll have the chance for your video to be heard, not just seen.

6-Second is the New 30-Second

According to many marketers, six-second video content is the next big thing. Short videos allow you to keep your viewer’s attention for the whole piece without leaving her annoyed — or, worse, making her reconsider choosing your brand at all. By implementing a performance-focused video strategy with multiple short videos, you can continuously improve your advertising efficiency and ROI.

Read to give the six-second format a shot? Try implementing short videos in digital advertising placements that are pre-roll or auto-play. For paid social media placements, start with Twitter and Instagram stories. You know your audience best. Maybe a Facebook story makes more sense for your consumers than Instagram. The bottom line: Six-second videos are an efficient and effective addition to your advertising strategy.

The post When Shorter Makes Sense: When to Use the 6-Second Video Format and Why appeared first on SmallBizTechnology.

Employees today expect employers to invest in their development. According to LinkedIn and Lynda, 94% of employees would stay at a company longer if the company invested in their careers. Fortunately, you don’t need to break the bank or sacrifice quality in other areas to meet these expectations.

Here are ways to give your employees the resources they need without going over budget:

1. Take advantage of certification and managed training services.

Some people learn well on their own, but many need guidance. Companies like IBEX offer client-site training to make it possible for employees to train in groups. Group training saves companies more money than individual offsite trainings. IBEX mostly covers IT and project management topics; if your company has different needs, do a little digging to find opportunities in your industry. Richardson, for example, offers in-depth instructor-led courses for sales.  

2. Check out nearby conferences.

Can’t afford to send everyone to the big dance every year? Unless you live in the middle of nowhere, you have plenty of options when it comes to relevant conferences. Many smaller conferences offer more intimate environments. This enables your developers, salespeople, marketers, HR professionals, and managers to rub shoulders and take in valuable lessons. Of course, local gatherings tend to be much cheaper as well.

3. Establish a mentorship program.

Your in-house experts are full of knowledge. Without a formalized mentorship program, though, your new recruits may not get the chance to absorb that information. Create a mentorship program to pair tenured employees with greener ones for hands-on education. Reward mentors who step up to pass on their knowledge and engage the next wave of workers. Don’t, however, force people into the role. Some of your best workers may not be natural-born teachers, and that’s fine. Keep it simple and risk-free to ensure maximum participation.

4. Bring in local experts.

Your company has plenty of experts, but your employees know most of them already. Speeches from bosses often feel more like obligations than privileges. Instead of preaching to the choir, invite other area leaders to speak to your teams. You’ll have to offer the same in exchange, naturally. Exposing teammates to new ideas from people who’ve been successful in other industries broadens their horizons. It also showcases the value of cooperation.

5. Take advantage of free classes and lectures.

Many universities post classes from world-class professors and leaders for free. The edX program, founded by Harvard University and MIT, offer access to lectures and course materials on a variety of topics. Your employees may not want to learn the fundamentals of neuroscience or contract law. But even the most basic courses can contribute to your company’s success. Courses on entrepreneurship, for instance, can help employees think about their work in a different light. 

6. Start an office book club.

The team that reads together leads together. Invite team members to participate in a book club. This will expose the group to new ideas and encourage productive conversations. Try not to steer these gatherings too far toward your own preferences. Instead, let others suggest books, and give the floor to employees who take initiative. You may not want to follow every book’s lessons, but exposure to more philosophies will help your team make better decisions with greater context.

Bonus: Give your teammates the time they need.

Your employees can’t make the most of the resources you provide if you ask them to train off the clock. Work to establish training priorities and schedules, then let them use work time to meet them. This ensures employees don’t have to worry about distractions, making the most of your investment. You can even try motivating them by using these Blueboard employee rewards to make sure they are working even harder.

Affordable training solutions tend to be more group-focused and intimate than expensive trainers. This often makes them excellent team-building tools, as well as educational opportunities. When your employees work side by side with you and other company leaders as they grow, they’ll see your investment in their future firsthand. 

The post How to Train Your Employees Without Breaking the Bank appeared first on SmallBizTechnology.

Whether you want to roll out a new marketing strategy, slay your sales quota, deepen your customer relationships, or expand your reach with new audiences, new technology can help you get there. 

But no tool, task, or team exists in a vacuum. Integrative software makes collaboration and reporting easier, giving not just one team, but your whole company, an edge. Before the calendar turns, add these five complementary tools to your collection:

1. Vast Conference

Today’s business world is powered by remote work. A 2019 study found that over half of the global workforce works remotely at least two and a half days a week. With so many employees collaborating from afar, companies need a reliable way to keep everyone connected.

Video conferencing tool Vast Conference provides high-definition audio and video meetings that integrate with Outlook, Google, or Microsoft 365 calendars to increase convenience and minimize compatibility concerns. And because Vast Conference is a web-based application, users can join online meetings with just one click, with nothing to download or install.

2. ZQ Intelligence Behavioral Tracking

Luth Research’s ZQ Intelligence uses proprietary technology behavioral tracking. In other words to capture behavior-based digital insights from consumers’ PCs, smartphones (iOS and Android), and tablets. By integrating this unique digital perspective with survey and qualitative research, you are able to uncover the “why” behind digital activity. ZQ Intelligence is a single-source solution that delivers accurate, granular insights in your own dashboard or custom reports

3. Shopify

As e-commerce platforms proliferate, small businesses need an easy way to access them. Shopify helps retailers sell through online marketplaces, social media, and traditional point-of-sale systems. It includes marketing and analysis tools to show which channels are retailers’ top performers.

If you prefer to sell directly from your own site, Shopify makes that simple as well. Users can find a domain, design their site with drag-and-drop tools, and create a company blog. And because Shopify is an online platform, there’s no need to hire IT to keep everything up and running. 

4. Animoto

Video is having its moment in the sun. Research shows that more than half of consumers engage with a brand after watching a related video on social media, a number no other type of content can match. 

If you want to enter the video marketing game but don’t know where to start, Animoto is an excellent tool for amateurs. The web-based platform includes drag-and-drop templates and editing tools that, despite their simplicity, produce professional-level videos. Use them to boost your brand on social media or develop digital ads. 

5. Hootsuite

Social media is one of the easiest, least expensive marketing tools that small businesses have at their disposal. But as new apps like TikTok and Twitch join the lineup, maintaining a presence on all the sites your audience uses is becoming more difficult.

To manage all your social media platforms from a single dashboard, give Hootsuite a try. Scheduling a whole week’s worth of social posts is not only more efficient, but it also makes creating a consistent experience for multi-platform users easier. Hootsuite also offers social media monitoring services so small business leaders can see how their company is being talked about online. 

Ultimately, selecting the right software is about understanding your business model and goals. Invest in affordable tools that provide real value, and your business will be that much stronger in 2020. 

The post Get Ahead in 2020 by Investing in These 5 Tools appeared first on SmallBizTechnology.

Think about that: Even if everything else goes right with their experience, a misfire on the service side will drive off three-quarters of your customers. In that light, customer service agent training might be the single most important CX investment your company makes. If you want your customers to have a great experience then consider using this voice of customer sentiment analysis. 

Top-Notch Agent Training

To help your agents deliver a high-level customer experience:

1. Set up a surprise product demo.

Whatever product or service you provide, make sure your agents know it like the back of their hand. An American Express study revealed that 62% of customers see the agent’s knowledge as key to positive service experiences.

Even if your agents are all former product engineers, put on a product demonstration for them. A few days later, without warning, ask each of them to give you a demo. Your goal isn’t to put them on the spot; it’s to identify where their understanding of the product differs from the company’s intent. Create a reference sheet that agents can keep beside their desks for common issues.

2. Get agents more team exposure. 

Too many businesses operate contact centers that are cut off from the rest of the company. Although outsourcing the function can save companies about 50% on their customer service expenses, it has a hidden cost: putting distance between agents and the company’s mission. 

Don’t trade short-term savings for a long-term hit to your customer experience. If possible, keep everyone in the same building. If your agents work remotely, implement processes that require regular contact. Set up once-a-week video lunches. Fly everyone out for quarterly retreats. Encourage banter with tools like Slack. 

3. Take turns playing the customer’s role.

When customer service people spend all day talking to users, they tend to think they’re good at seeing the customer’s side. Put that to the test: Pair agents up, with one playing the rep and the other acting as the customer.

When agents sit on the side of a call they’re not used to, it changes the way they see their role. Take discounts: Reps often receive pressure from above to limit the number of freebies they hand out. But forcing a customer to eat the cost of a defective product is a sure way to destroy his experience. Help agents approach their role with empathy, even if it costs extra.

4. Emphasize relationship-building.

Everyone wants her concerns to be heard by human beings. According to a study done by McKinsey, 70% of the customer experience comes down to how the customer feels she’s treated. Real, human connections make even the most difficult interactions go more smoothly.

Encourage agents to engage with customers on a personal level. Really listen to what they have to say, be sensitive to their emotions, and don’t be afraid to talk briefly about things other than business. Customer service agents are the face of your company, so it’s important that the impression they give off is a human one. 

Customers choose companies not for their products, but for how those companies make them feel. Regardless of why they contacted customer service in the first place, you have a chance to keep — or even upsell — them if you handle it well. Give agents the tools they need to deliver better experiences, and watch your customer experience create lasting relationships.

The post Want to Improve Your Customer Experience? Start With Your Agent Training appeared first on SmallBizTechnology.

But our devices do have a dark side. More inputs mean more distractions, which wear away at our well-being. We get so caught up in the digital world sometimes that we forget about the physical one.

Text notifications interrupt our family dinners. Tweets and “likes” take our attention away from real relationships. Apps that are meant to connect us wind up driving us further apart.

Like it or not, smartphones and social media are here to stay. Embrace them, but beware of their excesses.

Signs It’s Time to Scale Back

Tech may be tempting, but it doesn’t have to rule your life. Learn the signs of overuse, and take steps to solve the problem.

1. You can’t find your focus.

You know the feeling: You’re at work, perhaps already struggling to stay on task, and your phone chirps in your pocket. Another ding comes from your computer — a Facebook update from a friend posting vacation pictures — followed by a third that indicates a new email.

Distractions have always existed, but tech has taken them to a new level. The solution? Find your flow state.

A flow state is when you’re so involved in the task at hand that the world melts away around you. You might experience it while reading a book, working on a passion project, or playing a game.

Flow is an internal state, but external tweaks can help you find it. Stay off Slack. Soundproof your studio or office. If you’re hungry, eat a snack. Whatever you need to do, your goal should be to predict and eliminate distractions before they interrupt your flow.

2. Notifications are driving you nuts.

Apps rise and fall based on how well they command their users’ attention. Each one you download adds another set of notifications to the chaotic choir in your pocket. Although they’re meant to be useful, most notifications are mere distractions.

When someone likes your Facebook status, do you really need to know? Is your inbox so exciting that you truly want to be disrupted by every email that comes in?

Shut off your notifications. Silence everything except phone calls and, if you so choose, texts. If someone really needs your attention, she’ll call you.

Take this a step further by shrinking your app list. The average smartphone owner uses only 30 apps per month but has about three times that many on his phone. If you go whole months without using an app, why not just re-download it when you need it?

3. You mindlessly check social media.

Even if it’s the global average, you shouldn’t be spending 2.5 hours per day on social media. It’s already difficult enough to get everything done in a day, let alone when we spend a tenth of it tending to our online egos.

Social media is a fun way to connect, but it’s no substitute for real life. First, take an inventory of the platforms you can get rid of. If the political rants on Facebook and Twitter upset you, take a break.

Second, take social media apps off your phone. If you want to check them, fine — but make yourself take the step of actually booting up your computer or typing the URL into your smartphone’s browser.

Most importantly, be mindful of your time. If you’d intended to work on that remodeling project, don’t auto-scroll your way through the afternoon. Budget time for social media, just like any other activity in your life. If you repeatedly break the rules you set for yourself, get an app that blocks you from accessing those sites at certain times or past certain usage thresholds. 

4. Online shopping is breaking your wallet.

Every day feels like Christmas when you can click buttons online and have packages magically appear on your doorstep. As if that weren’t enough, e-commerce companies have invested in distractions like ad retargeting and smart home devices to make online shopping even more tempting.

Humans beings are impulsive by nature, and e-commerce sites know it. They invest in things that put their products in front of consumers as often and as visibly as possible.

Fight this distraction on two fronts. First, erect as many barriers between your digital accounts and your bank account as you can. Disconnect your smart devices from your credit cards. Take shopping apps off your phone. Turn off one-click ordering. Don’t save your payment data after you make a purchase.

Second, strike back against digital ads. Download an ad blocker. Use private browsing features to make retargeting more difficult. Set your browser to delete cookies every time you end your session.

Taking those steps won’t stop you from shopping online; what it does is make online shopping less tempting. If you aren’t being bombarded by product suggestions, you’re much less likely to go down a shopping rabbit hole. And if you need to enter payment details every time you want to buy something, you’ll actually have time to think, “Do I need this?”

The internet is a wonderful thing, but it’s also dangerous. If you’re prone to distractions, the endless amount of media and products online will only make it worse. Know your triggers, and have the courage to do something about them. 

The post 4 Signs Digital Distractions Are Destroying Your Well-Being appeared first on SmallBizTechnology.

As painful as meetings can be, however, you can’t clear your calendar entirely without losing track of important projects (and hurting a few feelings along the way). Rather than lock yourself in your office and communicate via email, cut down your meeting responsibilities and reclaim your calendar by following these tips:

1. Automate Scheduling

Workflow automation tools can help you skip the hassle of setting up and organizing meetings, which is half the battle. A good scheduling tool will automatically find the time and place that works best for everyone so you don’t have to refresh your inbox to make sure everyone got the memo. You can also use workflow automation tools to deliver important documentation, like agendas and minutes, to cut down on post-meeting hassles and get back to work. 

2. Get Picky With Your Presence

Just because you could participate in every meeting doesn’t mean you should. Before you accept an invitation, think about whether this meeting truly requires your presence. If you need to know the information but don’t need to weigh in on the discussion, ask to receive the minutes or send an employee to represent you. In some cases, you may be able to attend the first part of the meeting and make a graceful exit after the relevant parts are over.

3. Set a Hard Attendance Limit

Just as Jeff Bezos follows his famous two-pizza rule, you can keep meetings short and relevant by setting a cap on how many people can attend. Excessive guest lists don’t just waste the time of the people who don’t need to be there — they also waste the time of the biggest stakeholders as outside voices provide unnecessary input and extend the conversation. Invite fewer people to the meetings you organize, and be selective about whether you attend the crowded meetings of others.

4. Cut Meeting Times in Half

Do you really need to spend a whole hour kicking off that project or discussing the postmortem of a recent initiative? Maybe you do, but you can probably achieve the same outcome in half the time if you get right to the heart of the matter. Shorter meetings encourage people to arrive on time, and they get moving quickly. Try halving some of your regular meetings to evaluate whether you get different results.

5. Replace PowerPoint with Paper

Death by PowerPoint is a real phenomenon that kills the brain cells of professionals everywhere. The longer a presenter talks, the less you care about what the slides say. Ditch PowerPoint presentations in favor of paper handouts. Give everyone a chance to read the information at the beginning of the meeting, then host a conversation with your newly informed audience. This will allow people to absorb much more than they would by watching you drone with a clicker in hand.

6. Require an Agenda in Advance

Don’t attend a meeting if the person organizing it can’t clearly articulate the purpose of the meeting. Every meeting should begin with a question and end with an answer. Before you attend anything, ask the organizer to send the meeting agenda. Not only does this allow you to judge the necessity of your presence, but it also ensures that others at the meeting will arrive ready to discuss the issue.

7. Watch the Clock

Start your meetings on time every time, regardless of who is — or isn’t — present. Some companies tacitly encourage employees to waste time by allowing meetings to start late. This disrespects the people who made punctuality a priority and often leads to meetings going past their scheduled end time. Keep your meetings within the promised timeframe on both sides to earn attendees’ respect and accomplish your objectives faster.

8. Implement a No-Meeting Day

What would happen if no one met at all for one day every week? Would the walls of your company come crumbling down? Find out for yourself by banning formal meetings on specific days. If people enjoy the change and productivity remains high, see if you can stretch your meeting ban to two days. 

9. Try Speed Meetings

For those times when you need to meet but don’t need to solve every problem simultaneously, try speed meetings. Schedule five- or 10-minute gatherings with only the essential personnel to talk about pertinent information and come up with action items for each party. These meetings should only include two or three people. Put a few speed meetings in the same hour to knock out easy conversations.

When you have more efficient meetings, something magical happens. Requests in your inbox begin to dwindle as your meetings accomplish more in less time. One day, you may look at your calendar and shudder in horror as you remember how much unnecessary time you used to spend in conference rooms.  

The post 9 Ways to Cut Down Your Meeting Calendar appeared first on SmallBizTechnology.

Technology continues to change the way companies do business every day, and it’s poised to become even more influential as time goes on. No sector is safe from change, and it’s important to have a plan in place for dealing with any potential continuity issues your business may face. 

If disruption were easy to predict, it wouldn’t really be disruption. While there’s no surefire way to know what’s next for your business, there are a few key factors to keep a close eye on, including: 

Cybersecurity

The number of targeted large-scale cyberattacks increases 27 percent annually, but that number is hardly surprising to anyone who reads the news regularly. Yahoo, Equifax, Sony — the list of major companies affected by poor cybersecurity seems to grow almost daily. 

This isn’t just a problem affecting the big players, either — 55 percent of business experienced a cybersecurity breach in 2015 and 2016, with each attack costing, on average, $2 million in recovery costs and damage to normal operations. Investing in adequate digital security infrastructure may be costly, but it will almost always outweigh the potential harm a breach would do to your business. 

As operations become increasingly digitized, your business is at risk. If your company is doing business more frequently on digital platforms, digital threats should be one of your biggest disruption concerns. 

Government Regulation

It’s not the kind of disruption we tend to think about, but government regulation has a massive impact on who wins and loses in any industry. Think about the 2018 Farm Bill and how it legitimized and legalized large portions of the hemp and CBD industries overnight. Any movement from world governments can have a massive impact on the way your business operates.

Tabled legislation like the Green New Deal could affect anything from energy costs to building materials. You should be keenly aware of how the government sees your sector and how it might influence the way you do business. Changes in spending, subsidies, or even legality can turn everything upside down — be prepared for it by keeping an eye on tidal changes happening within your industry. That’s an early signal that the government will take notice. 

Artificial Intelligence

When a group of experts was asked whether it thought AI would cause a net loss or a net creation of jobs by 2025, the members were split on the issue, 48% to 52%. The contention around the impact of artificial intelligence is obvious, but one thing is certain: It’s already changing the way business is done. 

AI has already started increasing the value of user data, eliminating the need for menial tasks and beating humans at just about every game imaginable. Calum Chace, one of the world’s top futurist speakers, has long researched the relationship between computer and human cognition and determined a serious possibility of human unemployability in the face of increased automation. AI may affect every business differently, but it’s something all businesses should be prepared for. 

New Partnerships

Partnerships might be old news in business, but they’re increasingly happening in new and innovative ways. Fifty-seven percent of disruptive business are making innovation happen by branching out of their organization. Whether it’s through acquisition or alliance, innovative partnerships are bound to shake things up in a big way. 

Take Burger King, for example. Its partnership with startup Impossible Foods facilitated the creation of the Impossible Whopper — a vegan burger that looks and tastes like real beef. While some might see this as a gimmick, the numbers say otherwise: Foot traffic at franchises offering the Impossible Whopper increased by 18 percent, while foot traffic at others fell by 1.75 percent. 

Innovators like Impossible Foods are hungry for the opportunity to showcase their offerings on a larger scale, and its partnership with Burger King shows how successful combinations like those can be. Look for potential partnership opportunities in your sector — how could they affect the way you do business, and are you prepared for that kind of shift?  

If you knew how you were going to be disrupted next, you’d never be disrupted at all. While you can’t be sure what’s coming next, you can take notice of fast-moving segments. Remember that disruption waits for no one.

The post How Will Your Business Be Disrupted Next? appeared first on SmallBizTechnology.

With open positions at an all-time high, hiring is expected to become more competitive for 74 percent of recruiters in the next several months. Maintaining an edge doesn’t just mean offering the highest salary or most benefits — it means using the right hiring techniques, like getting help from a cloud talent recruiting agency, to find the right people for your position.

Bringing a new employee to your team is a long and difficult process, and many companies still use outdated practices. If you’re looking to hire the right way, make sure to:

1. Identify your business’s needs.

Take a step back, and determine what caused you to want to make this hire to begin with. Is there simply too much work to be done for you to do it all? Do you need someone with technical knowledge that your business doesn’t already have? While it may be obvious why you’re adding someone new to the payroll, asking questions like these can help determine what kind of hire is right for your business.

The point of these questions is ultimately to determine whether a full-time employee is what your business needs. Expanding your company is expensive, and it’s almost always cheaper to outsource or hire contractors for small-scale work. Full-time employees are a major cash investment that also require extensive work in getting integrated into the culture of your office. If your business’s need is long-term or specialized or requires hands-on work from multiple workers, a new hire might be the way to go. 

2. Determine the actual cost.

It’s common knowledge that taking on new workers is a massive expense, but it’s not always easy to tell exactly what that means in terms of dollars and cents. Between salary, benefits, insurance, and other expenses, calculating the ROI of a new hire is a murky process. 

Going over expense sheets for current employees is a good place to start, and tools like OnPay’s employee gross-up calculator can make the number-crunching easier. This is a model you can also spread to existing employees: Once you have the likely ROI for a new hire, compare that to the ROI of existing employees. Knowing how much a new employee will contribute to the value of your company is critical information for deciding what kind of hire to make.

3. Get the job description right.

Getting the position listing correct from the beginning can save you lots of time down the line. Work closely with HR and the team the position is part of in order to get the specifics of the job description correct; you don’t want to alienate anyone with poor use of technical language or unreasonable requirements. A poorly written job posting can easily attract the wrong applicants. 

Tools like Indeed’s job description template are a good place to start for crafting the structure of  your posting, but the description itself requires some heavy lifting on your part. Think about what you value most in your current employees — is it their knowledge? Friendliness? Education? Indicate in the job description that you’re looking for employees who have the same qualities as your best workers. 

4. Hold the right interview for the role.

The classic interview model is broken. One-third of employers state that they know whether they’ll hire someone within the first 90 seconds of an interview, despite that not being nearly enough time to know what someone is capable of. As tempting as it can be to make hires based on appearance, demeanor, and “fit,” consider taking a more contemporary approach to interviewing.

Working interviews are becoming increasingly popular, with employees working in the office for anywhere from an hour to a week to demonstrate their professional capabilities. More technical roles often include assessments like programming challenges, which show specialized knowledge as well as problem-solving ability. Develop an interview that tests for the qualities you’re looking for specifically. (Remember that any work needs to be paid.) Before finalizing the candidate, most of the companies tend to prefer background check of the candidate. Background checks need to be made all of the time. they’re finished employment reasons and that they are finished volunteers. Companies need to confirm that folks are the proper ones for them. Landlords can also do background checks. Background checking is that the procedure which involves finding and collection of all quite criminal, financial also as commercial records of an individual . Usually, these records are used for employment screening of a person before hiring. Employers bring into play these checks to guage a candidate’s character, qualification, and fitness also . A record check of a person is important to be evaluated if he’s seeking employment involving high security or trust like government, schools, airports, etc. Hiring professional background screening company to perfrom  your background checks for you and obtain your results delivered subsequent day.

5. Don’t neglect onboarding.

The facts supporting the importance of onboarding are striking — new employees who go through onboarding are nearly 70 percent more likely to remain at a company after three years than those who don’t. Yet 35 percent of companies continue to spend no money on onboarding whatsoever. Maximizing the ROI of a new hire is impossible if new employee retention remains low, so onboarding should be a nonnegotiable part of every new hiring process.

Onboarding isn’t just about keeping employees around; it’s also about getting them working well. A good onboarding process should include training components that maximize a new hire’s productivity as quickly as possible. Transitioning to a new position can be jarring, and a well-developed onboarding process helps ensure that employees are ready to do their best work as quickly as possible.

Hiring a new employee is always a risky task, so it’s important to refine every step of the process to ensure that the role is going to the right person. Hiring doesn’t end with a handshake, however, and it’s just as important to set your new employee up for success from his or her first day on the job. A new hire isn’t a momentary expense, but a long-term investment in the future of an individual — and your business as a whole.

The post 5 Things to Consider Before Hiring Your Next Employee appeared first on SmallBizTechnology.

1. Focus on your people — all of them.

Do you have a sales superstar who brings in the numbers but doesn’t get along with the team? If so, your reliance on that person could end up costing you more than a headache.

Research published by Harvard Business School found that results achieved by toxic employees don’t offset their negative behavior, even when the toxic employee performs in the top percentile. Your company would sell more if you fired that toxic “best employee” and employed a team of average people who know how to work together.

The longer you let the bad dynamic go unchecked, the more trouble your team will have. “Behavior is contagious … we find that when a toxic person joins a team, others are more likely to behave in a toxic fashion,” says Dr. Michael Housman, co-author of the Harvard study. 

2. Show some love to the marketing team.

The sales team celebrates the final reward, but no sales department lasts long without marketers pulling in qualified leads. Align your sales and marketing teams more closely to ensure both sides do all they can to ensure mutual success.

Get your salespeople to talk to the marketing team about the questions prospects ask most frequently, then make sure the marketers deliver content that matches the need. Build a demand generation strategy that frees up your salespeople to spend more time closing and less time qualifying. When marketers and salespeople work in harmony, good things follow.

Better yet, make use of a sales coaching software to analyze effective strategies, identify areas that need improvement, and monitor progress weekly. This software uses artificial intelligence to listen to your best sales reps, learn from them, and imitate their behavior. You can think of it as a self-service training coach.

3. Appreciate your current customers more.

While nothing beats the thrill of earning a big new account, your current customers deserve love, too. Communicate more frequently with your existing clients to hear about their experiences with your products and find opportunities to upsell.

Even if you only offer one product, don’t sleep on the value of your customers as lead sources. A good relationship with a small customer could lead to a massive partnership with a new client down the road. You never know how social circles connect, but by treating everyone with respect, you can boost your word-of-mouth marketing and up your chances of earning new business.

4. Check out chatbots.

Chatbots allow prospects on your website to ask questions without the pressure of a human salesperson on the other line. Take advantage of this dynamic by using chatbots to qualify leads through your website and on social media. With a little robotic help, customers who were “just browsing” could end up speaking with a salesperson in a matter of hours.

“The decision to deploy virtual agents can be complex,” says P.V. Kannan, co-founder of AI company [24]7.ai. “Even so, we think this sort of conversational interface to companies is destined to displace the current app and web interfaces over the long term, simply because it’s faster and in many cases, better for the customer.”

5. Evaluate your products and markets.

Provide customers with options to deepen their engagement with your company before you lose momentum from your existing line of products. Your niche may be successful for now, but every niche grows more crowded over time. To maintain your position at the front of the market, you must either offer something new or offer the same value to a different group of people.

Look at your current buyer personas to find similar groups who might enjoy your products. Could someone else use your product for a different purpose? With a few small tweaks, you may discover an entirely new marketing opportunity. Regularly evaluate your best markets, and think about how you could provide more value to current and prospective fans.

6. Experiment with email.

Email is a double-edged sword for small companies. Yes, it might be your best lead source — but how many hours a week do you spend in your inbox? Try techniques like time-boxing to keep email from eating up your schedule, but also consider your copy. Could less formal emails take less time to write and boost conversions? 

“Change the length, change the focus, try sounding cheeky instead of polished,” suggests TJ Macke, who handles go-to-market strategy for sales enablement company Regie.io. Although Regie uses AI to recommend copy that’s likely to resonate with your audience, Macke makes it clear that there’s no substitute for manual experimentation.

The 2020s will be here before you know it, so don’t waste time on sales tactics that belong in the 2010s. Use this opportunity to evaluate your sales strategy and achieve your sales goals next year — and the years beyond.

The post 6 Essential Tips to Reach Your Sales Goals in 2020 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.

No longer ancillary, remote workers are now key players on teams around the world. But employees who work remotely may be at risk of feeling isolated or less engaged with the company than those who are in the office every day. Read on for tips to make remote workers feel like part of the team.

Come Together Right Now

In an era when employee engagement is at low levels, it’s important to keep employees — especially those not getting as much face time — involved. Here are a few ways to keep them in the loop:

1. Enable feedback and listen

When it comes to managing a remote team, effective communication might be the most important thing to get right — and also one of the most challenging. Sure, there’s no shortage of communication channels to choose from. Between email, texting, video conferencing, and team-based tools like Slack, it’s easy for you to reach your employees — and for them to reach each other.

But a suite of communication tools doesn’t necessarily mean you have effective communication. As a leader, you must intentionally build a feedback culture. Depending on your setup, you might go days, weeks, or months without seeing your remote employees. That means you don’t have body language or casual chats to gauge their happiness or level of engagement.

Schedule regular one-on-ones with each remote worker. Try not to push back or schedule over these — they’re a priority! Ask employees about the challenges they’re facing in their role and what you can do to support them. If you have a lot of remote workers or entirely distributed teams, you might also need to train managers to give and solicit feedback. Consider providing a special training session specifically for remote employees.

2. Create a virtual water cooler

As more employees go remote, we need to reimagine the social landscape at work. These days, luckily, most people are familiar with online social interaction (seven in 10 American adults are on Facebook).

Opening a line for two-way feedback is a great first step when it comes to virtual communication. But don’t stop there. Your remote workers should feel just as plugged in to the company as your on-site employees. Positive relationships are crucial to keeping your people happy, healthy, and motivated.

Encourage social interaction among employees. Be sure to make small talk with your remote workers: What’s new with their family? Are they looking forward to any trips this year? Start group meetings with an ice breaker from time to time so teams can really get to know each other.

You might also consider a communication platform that enables social interaction like Workplace by Facebook or Jive. This will give remote employees a virtual “home base” to check for company communications, as well as non-work-related discussions.

Do, however, be selective about the communication channels you set up for your remote teams. Too many incoming channels can be overwhelming for remote employees, and they can have an adverse effect on productivity and satisfaction. Pick a few, each with a specific purpose and goal in mind, and commit to them.

3. Celebrate great work

We all want to feel like our hard work is valued. In fact, 79% of people reported that recognition makes them work harder. However, your remote employees’ outstanding work is more likely to fly under the radar, leaving them feeling underappreciated. Be sure to acknowledge their performance and let them know how much you value what they do every day.

Better yet, empower employees to recognize each other in the same way. Many digital employee communication tools have features that gamify engagement and provide ways for employees to give props to each other.

Fostering a culture of appreciation isn’t difficult: those who feel appreciated are more likely to express appreciation to others. Publicly celebrate employees when they do an exceptional job on a project, and make sure it’s visible to remote workers, too. If you and other company leaders plant the seed of sharing appreciation, it will grow quickly throughout your organization.

4. Offer inclusive benefits

Speaking of showing appreciation, does your benefits package cater to remote employees? If you’re a traditional brick-and-mortar company that’s gradually increased its amount of remote work, it might be time to update your benefits and perks.

First, make sure the big-ticket items are on point: Your health insurance plan’s provider network should cover all your employees’ locations (with bonus points for providing telehealth options), https://neurofitnessfoundation.org/ambien-zolpidem/. Then, ask yourself if there are perks available to on-site employees that remote workers don’t have access to. Things like free coffee and catered lunches might seem small, but they can make a significant impact on employee engagement. Your remote employees miss out on all of this.

If you have a wellness program, make sure it’s set up so remote workers have an equal opportunity to participate. For example, if you offer employees a gym membership, the option should include gyms where each employee is located.

You could also consider a fun alternative to the standard gym membership. Workout apps like Gixo provide the dual benefits of encouraging wellness and fostering engagement. A virtual fitness program enables all your employees — remote or not — to participate together through live classes they can take from home or the office, encouraging each other to hit their workout goals.

5. Get employees together

Technology is extremely valuable in keeping remote workers engaged, but there’s nothing like face-to-face interaction to build a strong team. If possible, you should plan regular opportunities for your employees to get together in person.

Many companies with remote employees have an annual retreat. Depending on your company size, bringing everyone in to your HQ can be expensive, but it’s worth it. Your employees will appreciate the chance to put faces to the names of the people they work with on a daily basis.

This event could include any regular or mandatory trainings your employees need; you could also plan it around continuing education, like a conference. Alternately, you could just plan a fun team-building event that has nothing to do with your work. Whatever you decide, be sure to build in plenty of free time for networking. Encourage employees to mingle with new faces by assigning groups, tables, or teams.

Teams of the Future

With better technology and more communication tools than ever before, the increase in remote workers is a trend that’s unlikely to slow down any time soon. Are your company’s engagement practices up to snuff? By fostering open communication, celebrating the wins, and offering inclusive benefits, you’ll ensure your remote workers feel as much a part of your organization as the in-office employees.

The post 5 Ways to Make Remote Workers Feel Like Part of the Team appeared first on SmallBizTechnology.

According to a September 2018 World Economic Forum study, more than half of the work done worldwide by 2025 will be completed by some form of automation technology. In some fields, that tipping point will come even sooner: Information technology and data processing, for instance, is on track to reach the more-automated-than-human mark by 2022. 

While 2022 might sound a long way off, the truth is that workflow automation software is already taking on remarkably human roles. Today, automation conducts one-fifth of business decision-making as measured by task hours, the World Economic Forum report claims. By 2022, that ratio will be close to one-third.

The report also notes, however, that there are broad disparities in automation’s applications. While some enterprises use it for everything from data entry to recruiting to content creation, others have yet to touch it at all.

Automation for All

Fortunately, no matter where your company lies on that spectrum, there are four ways in which it can start or strengthen its application of automation:

1. Kick busywork to the curb.

Every industry, company, and role involves a certain amount of rote work. Although some, like data entry, are obvious targets for what’s called robotic process automation, others may not be so clear-cut. Government agencies like NASA, for instance, use RPA to “read” budgets and distribute funds between offices. In the next five to seven years, a Deloitte report found, such RPA applications could save the federal government 1.1 billion working hours per year — or around $37 billion annually.

But it’s not just the public sector that sees the sense in RPA. Email automation provider Mixmax’s latest suite of tools, known as “Mixmax 2.0,” features Beast Mode, a task automator that customer-facing roles at enterprise companies use to efficiently complete batches of tasks. In a press release, Mixmax CEO and co-founder Olof Mathé described Mixmax 2.0 as a broadside against busywork: “Our goal with Beast Mode, Dialer, and Auto Create is singular: empower business users to focus on their jobs.”

2. Do more with data visualization.

To focus on their jobs, however, business users need a clear picture of where opportunities lie. Again, automation has an answer, or at least a partner: exploratory data analysis. In a nutshell, EDA is the process of using algorithms to point out patterns, identify anomalies, and check assumptions through graphical representations. Although EDA can visualize “fun” issues, like who’s actually the main character in the television show “Friends,” its business applications are almost endless.

“At the very least,” argues Dino Fire, president of market research and analytics at datadecisions Group, “the EDA may reveal aspects of your company’s performance that others may not have seen.” For newer users, Fire suggests using a logistic model for a new take on customer segmentation. By ingesting customer data like net promoter score, purchasing behavior, and demographic variables, logistic models can show similarities between the company’s most satisfied customers and predict whether unscored customers are satisfied.

3. Create an automation center.

Data analysis, however, is one small area in the vast landscape of business automation. To keep up with the ballooning number of types and tools, four in 10 enterprises will have created automation centers by the end of this year, according to Forrester’s Predictions 2019 report. The point of these platforms, Forrester vice president and principal analyst J. P. Gownder explains in his report analysis, is to align the right automation solution with the right use case.

Although choosing a tool to complete a task might seem simple enough, Deloitte’s “Automate This” report makes clear it’s not. Two types of automation the report explores, for example, sound awfully similar: robotic process automation and intelligent automation. In fact, their use cases are practically opposites; RPA tools can tackle methodical, routine tasks at a relatively low implementation cost. IA ones, on the other hand, are for narrow, non-routine tasks that require thoughtful consideration and involve steep startup costs.

4. Integrate AI with other technologies.

Enterprises don’t use RPA, IA, or any other AI tool in a vacuum. As companies become more comfortable with AI, digital transformation expert Daniel Newman predicts, they’ll combine AI technologies with others in increasingly complex and valuable ways. “Convergence should be a top priority for leaders across industries everywhere,” Newman stresses.

Take, for example, how the oil and gas industry has paired AI with Internet of Things technology. By using machine learning to analyze data gathered by IoT sensors, operators can diagnose malfunctions, predict part failures, and optimize pump performance. Not only does the system reduce downtime and increase output, but it improves worker safety and decreases the possibility of environmental disaster.

Artificial intelligence might seem like it’s years away from its professional prime, and it certainly may be. But while automatons aren’t walking around most workplaces yet, AI is making its mark in more subtle, software-centric ways. By freeing workers from routine work, identifying hidden opportunities, and optimizing existing processes, AI is charging toward a tipping point that employees and employers alike should welcome.

The post The Tipping Point of Automation Is Coming. Here’s How to Stay on the Leading Edge appeared first on SmallBizTechnology.

Fortunately, creativity isn’t a secret magical formula that comes and goes with the wind. Creativity is a skill — one of the most important skills for modern teams to hone. In fact, teams can “rehearse creativity” the same way they might practice sales tactics or software proficiency.

Leaders of creative teams are responsible for more than just projects and deadlines. They must also help maintain their workers’ ability to respond to challenges, come up with innovative solutions, and outthink the competition. Before the energy of your creative team starts to run low, use these best practices to help your employees shine:

1. Create positive conflict.

When you hear the term “team,” you probably think of a group of people who get along all the time. In truth, creative teams should clash. The reason isn’t that creatives are uncooperative “geniuses”; it’s that creativity, as entrepreneur and author Allen Gannett makes clear in one of the season’s best books on creativity, that requires community engagement and iteration.

What does constructive conflict look like? Gannett points to Benj Pasek and Justin Paul, the duo who wrote the lyrics for the 2017 hit film “La La Land.” “Ideal collaborators balance out each other’s weaknesses and provide different perspectives,” he writes in “The Creative Curve.” “Creativity, after all, is a team sport, and even if you lack a close working partner like Benj Pasek or Justin Paul, other collaborators are out there.”

2. Set firm limitations.

Creativity, especially in a professional setting, works better within context. A person given total creative freedom with no boundaries might struggle to come up with anything at all, while a person with a specific objective and parameters can work quickly toward a set goal.

Before beginning any new project, ensure the team understands the practical applications of the work. Give teams goals and boundaries, then let them figure out how to bridge the gap on their own.

3. Keep up a stream of feedback.

The best creative processes include a constantly evolving conversation between boss and team. Don’t give your employees a goal and then wait three weeks to evaluate their progress. Instead, encourage team members to come to you with iterations of their ideas and provide regular feedback on whether those ideas will work in the context of the project.

Keep feedback as positive as possible. No one benefits from a boss who shoots down ideas. Research from Columbia Business School found that employees who receive performance ratings are less likely to respond to managerial feedback. When an employee comes to you with an idea that won’t work, search out the good parts of the proposal, and encourage the employee to incorporate those parts into the project. Your own critical thinking results in stronger feedback that can be applied by your team.

When you must reject an idea, don’t criticize it in front of others. Have a one-on-one talk with the employee about why the idea won’t work. Express your gratitude for the suggestion, and encourage the employee to keep it the strongest elements in mind for future projects.

4. Change the environment.

No matter how creatively designed, offices become routine and constraining after a while. Help your team keep its creative spark by getting out of the building and into the world by using team building Singapore activities.

More time in nature leads to improved mental functioning. If knocking down walls isn’t feasible for your company, make regular trips with your team to places outside the office. Go to museums, parks, and other areas of inspiration, then sit down over lunch to talk about what you experienced. Excursions like these provide excellent creative fuel.

As fun as employee adventures can be, keep them constrained to work hours. No employee wants to feel pressured to spend a Saturday hanging out with co-workers. Besides, employees need time off to refuel their creative tanks.

5. Provide time for independent exploration.

Teams who spend all their time working and little time learning tend to stagnate. Avoid that fate by providing the schedule and resources your team members need to pursue their own development.

Teams must be able to adapt quickly to changes and new demands. Provide employees with access to educational resources, as well as time to explore those resources. Make it clear that you prioritize the continued development of your team. Set monthly meetings for employees to talk about what they’ve learned on their own and how those lessons could help the team grow.

Your team needs you for more than vacation sign-offs and deadline management. Leaders who leave the creativity of their teams to chance inevitably see that creativity wane. Pressures to innovate will continue to grow stronger, and in the face of that pressure, leaders of creative teams must rise to the challenge to keep their workers ready for the challenges to come.

The post 5 Ways to Maintain Your Creative Team’s Spark appeared first on SmallBizTechnology.

Google has adapted to the changing marketplace, pivoting to smartphones with its Android OS and creating a paid-media advertising duopoly with Facebook. And just like Apple, Netflix, Amazon, and Facebook, Google has a target painted on its back in terms of attracting jealousy and criticism — these monster brands are hard to compete with.

But we’re never worried that their core business models are in danger. Facebook, despite data uncertainty, has built a massively successful and influential business. It’s even achieved market segmentation via acquisitions, with Instagram attracting younger users and Facebook remaining a mainstay for users approaching middle age.

Likewise, Apple, 12 years after the iPhone’s debut, still sets the standard. Even if it loses a small audience share to Android phones, there’s no real cause for concern. Amazon is in the same boat, never concerned with immediate success. It delays its own gratification to ensure customers are happy, knowing it will eventually gain market share. Achieving market penetration through Amazon Prime, Amazon Web Services, and more, the company has worked to make sure it’s indispensable in various aspects of customers’ daily lives.

But we have started to see a little chink in Netflix’s impenetrable armor. The brand is winning awards and defining pop culture, but its free-spending days of even a couple years ago are over. Canceling Marvel shows may have surprised some, and Disney will be a formidable competitor. But more interesting shifts come with moves like the cancellation of newer originals such as “One Day at a Time.”

Netflix isn’t going anywhere. But with strong competitors joining its space and a growing recognition that it can’t simply buy every show viewers want the platform to host, the brand is looking at a shifting landscape. What if Hulu, Amazon, or Disney buys the rights to air NFL games? Those TV rights, up in three years, could drastically change the streaming marketplace. Visit our website and find best 32 inch smart tvs reviews

And that’s the point: We get comfortable and accept that companies will always keep their place in the hierarchy forever. We even do this in the tech sector, an industry built on the idea that nothing stays the same — or should. By no means do these brands appear likely to join the ranks of Kodak or Blockbuster, but it’s important to consider the changes that aren’t visible yet — but are right below the surface.

Analytics

And that brings us back to Google: While the brand continues to innovate, its core revenue-generating model doesn’t address analytics or voice, two areas ripe for growth in the coming years.

Right now, Google is focused on acquisition analytics. Nearly 90 percent of Google’s revenue comes from advertising. Google Analytics 360 falls under the DoubleClick team, so it’s heavily tied to its advertising business; that’s a model that has worked well.

Google Analytics is general and familiar; most importantly, it works. But companies like Adobe are giving Google some competition. Adobe is sometimes considered the company that runs on Photoshop; however, its stock was up 29 percent in 2018, capping 15 straight positive quarters.

Adobe is aiming at the analytics market, especially with large enterprises, an area where free analytics platforms typically don’t scale. Another analytics area where Adobe hopes to make an impact: tracking. Brands need a larger picture beyond how and when to acquire a customer. Adobe’s innovative product focuses on data integration and analytics across the entire customer journey, allowing brands to map out how they’ll create experiences to attract their customers, not merely how they’ll create an ad.

Voice

Voice is an even more visible point of potential trouble for Google, but it’s one the brand is already looking to combat. If voice search someday overtakes the search engine’s text search functionality — or dips into it significantly — Google will be left without one of its main sources of revenue.

This is why Google has done a smart job of creating Google Home and staking its claim in the smart speaker market — and also adapting that to home video. It’s also made some of its properties — Gmail, Chrome, YouTube — staples that people utilize on a daily basis. That opens Google up to pivots that may become necessary if voice search gains increased momentum alongside mobile use. With 27 percent already using voice search, it’s not a far-fetched possibility.

As long as Google can grab a significant portion of the smart home market, the brand will be able to tie its other services together, creating a bundled offering — and ensuring consumers don’t have a reason to use any other suite of services. By diversifying its portfolio, Google is working to assure its success, despite looming threats.

Needless to say, the next five years will be fascinating. If history truly is deemed to repeat itself, one of these five behemoth companies may not hold the same position by 2024. But it’s up to competitors to push these brands — and their industries — to the cutting edge.

The post Technology Moves Fast — Will It Ever Outpace Behemoth Tech Brands? appeared first on SmallBizTechnology.