7 Safety Tips For Using A Dumpster Rental

November 10, 2023

Construction projects create a lot of waste. According to Industrial Safety & Hygiene News (ISHN), construction and demolition activities account for about 40% of the solid waste generated yearly. That’s about 100 million tons of waste in the U.S. alone.

As a result, dumpster rentals are a common need on construction sites. But before you lease one, you must understand and follow proper safety guidelines. Otherwise, it can become a serious safety hazard and lead to potential health and liability issues.

So here are seven dumpster rental safety tips to follow:

1. Comply with OSHA.

The Occupational Safety and Health Administration is the U.S. regulatory agency for workplace safety. It has specific guidelines for waste disposal, which include creating a safe walking area in front of a building or construction area for bypassers to use and keeping the work site clean and free of loose debris.

Other OSHA guidelines that may impact the use of dumpster rentals include rules regarding lifting and handling heavy materials, vehicle safety, fire safety, and more.

2. Choose a safe dumpster location.

Where you place a dumpster rental is important. It should be in a visible location near the construction activity but not so close that it becomes a hazard. For residential projects, this often means a driveway.

Place plywood underneath the dumpster to avoid cracking or scraping the concrete, and make sure to give trucks plenty of clearance space for when the bin is hauled away.

3. Wear proper safety gear.

Construction waste tends to be large, bulky, and dangerous. It could include sharp objects and precarious debris. Consequently, wearing proper safety gear is crucial. This includes standard hard hats and steel-toe boots as well as gloves and protective goggles. That way, you don’t accidentally get cut or hurt by sharp edges, toxic materials, or rust on waste.

4. Set up warning signs.

Inform your construction team about the location of the dumpster. Then place signage around it to warn passersby to stay clear. If needed, set up construction tape to keep people out. You may also want to set up a sign that says what types of materials are allowed in the dumpster.

5. Practice safe operation.

Though using a dumpster may seem fairly straightforward, it isn’t always. Ask the rental company to give you a quick walkthrough on how to use it properly. They can teach you how to operate all the levers, hinges, door latches, locks, etc.

Try to use the buddy system whenever operating the dumpster to minimize dangerous situations. Keep materials from hanging out of it by packing them tightly and emptying the dumpster regularly.

6. Avoid hazardous materials.

Be careful not to throw hazardous materials into the dumpster since these can create a fire hazard. Some flammable materials to avoid include asbestos, paints, electronics, batteries, contaminated soil, fuels, and oils.

In addition, workers should never smoke or light matches near an open bin. A single spark could be all it takes to light the waste up in flames. Have a fire extinguisher nearby for emergencies.

7. Look out for animals and children.

Lastly, take extra precautions regarding animals and children. Children may be tempted to play in the dumpster, for example. Keep them out by blocking the dumpster with barriers and construction tape if needed.

Similarly, animals may try to rummage through the dumpster for food. Common suspects include raccoons, mice, and other pests. Keep them out by spraying the container with repellants and never throw food into it.

Adding it all up

At the end of the day, operating a dumpster rental doesn’t have to be hard, but it does take some forethought. So go through the steps above to avoid an accident. You and your team won’t regret it.

[Photo by Loren Biser on Unsplash]

Building A Successful Trade Show Experience For Your Brand

Contributor

November 9, 2023

by Ray Sheehan, founder of Old City Media

Trade shows offer tremendous opportunities for companies to build brand awareness, generate leads, and promote their latest products and services. However, simply showing up with a booth is not enough to produce results. A strategic approach is required to create an experience at these events that effectively engages your target audience and conveys your brand identity.

By planning ahead and focusing your efforts, you can ensure your participation drives tangible business growth.

Pick the right show

When it comes to making your brand’s trade show experience a success, meticulous research into the right trade shows is paramount. This process involves several key considerations:

Align with your business goals: The first step is aligning the trade show with your business objectives. Are you looking to increase brand awareness, generate leads, launch a new product, or strengthen industry connections? Your goals will determine which trade shows are the best fit.
Know your target audience: Understanding your target audience is essential. Research the demographics and interests of attendees at different trade shows. Choose events where your potential customers are more likely to be present.
Examine past successes: Look at your previous trade show experiences. Which ones yielded the best results? Consider returning to events where you’ve found success in the past, but also be open to exploring new opportunities.
Investigate competitor presence: Analyze which trade shows your competitors attend. Their choices may provide insights into the events that are most relevant to your industry. Consider attending some of the same events to gain exposure among a similar audience.
Check event reputations: Research the reputation of the trade show organizers. Well-established, reputable events often draw a larger and more qualified crowd. Ensure the event is well-organized and has a track record of delivering value to exhibitors.
Consider your budget: Evaluate the costs associated with each trade show, including booth fees, travel expenses, and promotional materials. Ensure the event aligns with your budgetary constraints.
Talk to past participants: Reach out to companies that have previously exhibited at the trade shows you’re considering. They can provide valuable insights into their experiences, attendee demographics, and the overall impact on their businesses.

Choosing the right trade shows is the foundation for a successful trade show experience. By conducting comprehensive research and aligning your selection with your business goals and target audience, you can ensure that your brand’s presence at trade shows is both effective and strategic.

Plan your booth experience

Crafting an enticing booth experience begins by defining your unique selling points and brand differentiators as the foundation of your booth’s appeal. Prioritize interactive elements like live product presentations, demos, and games to foster active participation. Trade shows can be overwhelming, so offer a comfortable lounge area for relaxation and in-depth brand exploration.

Complimentary refreshments, contests, and giveaways entice visitors. Embrace cutting-edge technology such as virtual reality (VR) and augmented reality (AR) to showcase products innovatively. Pay attention to the booth’s visual design for brand alignment and visual appeal.

Your well-informed and engaging booth staff is pivotal for effective visitor interactions, and fostering networking and conversations. This engaging booth experience is your chance to attract visitors, make a memorable impression, and generate valuable leads. Demonstrate what sets your brand apart and why it’s worth remembering.

Post-show recap

Once the trade show whirlwind subsides, a thorough post-show recap is in order. Bring your team together for a debriefing session, where you can compare notes and evaluate your performance. Ensure that follow-ups with potential leads are promptly completed. Identify the strategies that worked well and areas that may need improvement. Reflect on ways to enhance efficiency for future trade shows. By assessing your achievements and areas for growth, you can fine-tune your strategy, making each trade show a stepping stone toward greater success. The insights gained from these recaps are invaluable for refining your approach and solidifying your brand’s presence in the world of trade shows.

Trade shows are invaluable opportunities to expand your brand’s reach and forge meaningful industry connections. With proper trade show planning and strategic follow-through, these events can catalyze business growth and amplify awareness of your products and services. Conduct extensive research to identify the optimal shows for your goals and audience. Craft an interactive booth experience that conveys your unique value proposition. Network extensively to build relationships and gain insights. Afterward, recap and refine your approach to maximize future success.

Attend trade shows with clear objectives, delivering an immersive representation of your brand’s identity and offerings. The impressions you leave will ripple into valuable opportunities and partnerships that propel your business forward. Approach these events as a platform to spark meaningful conversations, forge connections, and plant the seeds for long-term growth. With a thoughtful strategy and flawless execution, your brand’s trade show participation will become an integral component in cultivating enduring business achievement.

Ray Sheehan is the Founder of Old City Media, a North American event production and experiential marketing agency. He has a background in strategic planning, marketing, event management, and advertising and has helped the company expand from one city in the United States to an international agency. Ray is recognized as a leader in the special events industry and an innovative thinker in the Philadelphia community and beyond.

Treading Lightly: A Mission For A More Sustainable Tourism Industry

Contributor

November 7, 2023

by Steven Garcia, founder of Empire Tours and Productions

As someone who’s been in the thick of it, I’ve witnessed the rise of global tourism firsthand. The appeal of discovering new cultures and gorgeous landscapes has never been stronger, yet, like most things, tourism has its shadows – challenges that aren’t as visible in the captivating pictures shared with friends or family.

The world is a vast and beautiful place, but our footprints have left some permanent stains. The tourism industry’s dark side has long been looming underneath the surface, with ecological degradation as the most alarming guest that often accompanies the tourist influx into delicate ecosystems.

The cultural fabric, too, can fray under the sheer number of visitors, with traditional ways of life bowing to the demands of commercialization. Our love for exploration also strains local infrastructures, overwhelming them beyond their capabilities.

But as conscientious citizens and as industry experts, we bear the responsibility to tackle these issues head-on and find solutions that will mitigate the negative impacts of tourism. With my enterprise, Empire Tours and Productions, this is precisely what I aim to accomplish.

Now more than ever, as we witness millions of species dying out, the oceans flooded with plastic waste and global temperatures rising, it’s critical we allow the environment’s needs and its survival to take center stage.

Through Empire Tours, my team and I have embarked on many initiatives with a focus on preserving local history and natural beauty while considerably reducing our carbon footprint.

In Chicago, the way we have driven the sustainability movement forward is through our Gangsters and Ghosts and the electric boat tours.

As a history buff, I have always been especially excited about Gangsters and Ghosts as it not only allows visitors to connect with the city more intimately and retrace the steps of Chicago’s infamous figures like Al Capone, but it has also hugely contributed to our eco-conscious efforts.

More precisely, since it’s a walking tour, it reduces the strain on infrastructure, and by moving away from vehicular transport, it allows us to cut carbon emissions at an incredible level. In fact, combined with other walking tours, such as New York’s Gangsters and Ghosts, we have been able to eliminate over 5,000 hours of bus emissions a year, and the goal is to triple that amount.

The Chicago electric boat tours have played an equally critical part in minimizing our ecological footprint. These tours not only provide a serene voyage for the visitors but with zero emissions into the air and water, they decrease noise pollution and maintain the impeccable condition of cities’ lakes and rivers. As a result, we can protect the natural habitat of marine life.

But it wasn’t enough for us to only focus on the urban areas. Owing to a partnership with Airbnb, my team and I have made significant efforts to curb the negative impacts of tourism on our natural landscapes through our glamping cabins in Wisconsin and Ohio, made from 100-year-old reclaimed forest firewood we sourced in California.

These cabins truly demonstrate the power of repurposed materials, and I believe they hold the key to driving sustainable accommodation to new levels.

Looking over the things we’ve accomplished so far and the work yet to be done, one thing I can confidently say is that it’s high time to move beyond awareness to action. Both businesses and travelers have their role to play in shaping a more sustainable future for tourism.

For companies, there are several practical steps that can be taken. First, investing in renewable energy for operations is a tangible way to reduce the environmental impact. Solar panels, wind turbines, and other renewable energy sources can significantly cut down on a company’s carbon emissions.

Collaborating with local communities is another crucial step. By working closely with the people who call these tourist destinations home, companies can ensure tourism benefits everyone involved. Something we’ve done at Empire Tours in Chicago and New York, for example, is partnering up with 16 local electricity-run restaurants in order to support their sustainability strides.

For travelers, there are many ways to travel sustainably. Choosing eco-friendly accommodations and tours is a great start. These options prioritize environmental conservation and often contribute to local economies in ways that are actually meaningful. Traveling during off-peak times can also lessen the strain on popular destinations.

After all, tourism doesn’t have to be destructive. It can be a force for positive change, fostering appreciation for our planet and its diverse inhabitants.

As world citizens, if we collectively put in the effort, then I’m confident we can genuinely make a difference. Sustainability shouldn’t be a trend or a buzzword but an imperative for all in order to guarantee that the generations to come can enjoy the beauty and the glamour of the places that we have spent so much time admiring.

Steven Garcia, the founder of Empire Tours and Productions, is a prominent advocate for sustainable travel. His company offers luxury, eco-conscious travel experiences in major U.S. cities such as Chicago, New York City, New Orleans, and Charleston and is expanding globally to London, Amsterdam, and Berlin.

Why Cybersecurity Is More Than Just Installing Firewalls

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November 7, 2023

In today’s digital age, where data breaches and cyberattacks are becoming increasingly common, the importance of robust cybersecurity cannot be overstated. While many perceive firewalls as the ultimate defense against cyber threats, the reality is far more complex. Cybersecurity is a multifaceted discipline that goes beyond merely installing a firewall.

Let’s delve deeper into this intricate world and understand why a comprehensive approach to cybersecurity is essential.

Unraveling the Web of Technical Vulnerabilities

Every day, new vulnerabilities emerge, threatening the integrity of our digital systems. Some of the most common technical vulnerabilities include:

Software Flaws: Outdated software or systems that haven’t been patched can become easy targets for hackers. These flaws can be exploited to gain unauthorized access or disrupt services.

Weak Passwords: Surprisingly, “password123” is still in use. Weak or easily guessable passwords can provide an easy entry point for malicious actors.

Phishing Attacks: Cybercriminals often use deceptive emails or messages to trick individuals into revealing sensitive information or downloading malware.

Unsecured Networks: Using public Wi-Fi or networks without proper encryption can expose data to potential eavesdroppers.

The Limitations of Firewall-Centric and Device-Centric Cybersecurity

While firewalls play a crucial role in filtering out malicious traffic and preventing certain types of cyberattacks, relying solely on them is a flawed strategy.

Here’s why:

Evolving Threat Landscape: Modern cyber threats, like zero-day exploits or advanced persistent threats, can bypass traditional firewalls with ease.

Internal Threats: Not all threats come from the outside. Malicious or negligent employees, or even compromised devices within the network, can pose significant risks. Firewalls are often ineffective against these internal threats.

Overemphasis on Perimeter Defense: A device-centric approach, which focuses on protecting individual devices, can lead to fragmented security. If one device gets compromised, it can potentially jeopardize the entire network.

Diversifying Your Defense: The Need for Multiple Zones of Protection

To truly safeguard digital assets, one must think beyond firewalls and adopt a layered approach to security. Good cybersecurity providers such as RedLegg recommend approaches such as:

Endpoint Protection: Ensure that every device connected to the network, from computers to smartphones, has robust security software installed. This software should protect against malware, ransomware, and other threats.

Network Segmentation: Divide the network into segments, ensuring that if one segment is compromised, the threat doesn’t spread to other parts of the network.

Multi-Factor Authentication (MFA): Require users to provide two or more verification methods before granting access. This could be something they know (password), something they have (a smart card or token), or something they are (fingerprint or facial recognition).

Regular Security Audits: Periodically assess the network and systems for vulnerabilities. This proactive approach can identify potential weaknesses before they’re exploited.

Holistic Protection: The Path to Digital Tranquility

A comprehensive approach to cybersecurity offers more than just defense against threats; it provides peace of mind. Knowing that multiple layers of protection are in place allows businesses and individuals to operate with confidence in the digital realm. Key elements of holistic protection include:

Continuous Education: Cyber threats evolve, and so should our knowledge. Regular training sessions can keep employees updated on the latest threats and best practices.

Backup Strategies: Regularly back up data to secure locations, ensuring that even in the event of a ransomware attack or data breach, the information is safe and recoverable.

Incident Response Plan: Have a clear plan in place detailing the steps to take in the event of a cyber incident. This ensures a swift and coordinated response, minimizing potential damage.

In conclusion, while firewalls are a foundational element of cybersecurity, they are just one piece of the puzzle. In the ever-evolving landscape of cyber threats, a holistic, multi-layered approach is the key to robust protection. By understanding the complexities of cybersecurity and implementing a comprehensive strategy, businesses and individuals can navigate the digital world with confidence and security.

Let’s Explore: Can SaaS PPC Elevate Your Start-Up’s Marketing Strategies?

Contributor

November 6, 2023

by Sergey Solonenko, founder of Algocentric Digital Consultancy

Getting a software business off the ground can be tricky, especially in 2023. Many companies have transferred their operations online, so the competition has never been stiffer. That being said, if you wish to make an impact, your best bet is to invest in various digital marketing strategies.

Among all these different promotional activities, SaaS PPC stands out as the fastest way to generate leads. Unlike search engine optimization and social media marketing, paid advertising can yield results overnight. This is especially important for your software entrepreneurs who are fresh off of college and don’t have the necessary business connections.

How Does SaaS PPC Work?

As the name indicates, SaaS PPC is a process of using Google Ads, Facebook Ads, and other channels to promote your software brand. The term PPC stands for Pay-Per-Click, where an entrepreneur pays money each time someone clicks on their link.

SaaS PPC Benefits.

Faster than other digital marketing methods
Doesn’t require that much time to set up
Simpler than search engine optimization

The best thing about SaaS PPC is that it always provides some results for your business. Unlike SEO or SMM, where you invest lots of money for months and months without getting a single lead, paid ads can land you first clients within a week. In that sense, it is one of the fairest marketing processes.

SaaS PPC Drawbacks.

Still requires some website optimization
Usually, it doesn’t cause a snowballing effect
Some keywords can be extremely expensive

The issue with PPC marketing is that the best keywords are usually very expensive. Savvy experts know which phrases to target, which is why these keywords usually have high cost-per-click. So, while PPC can yield results, it can be disastrous if you pursue the wrong terms. On top of that, it doesn’t yield the same brand-building benefits as some other marketing techniques.

5 Steps for Creating a Successful PPC Campaign

Like any other promotional activity, your PPC strategy requires careful planning and execution. While the process varies from platform to platform, these are the basic things you need to do:

1. Set Goals.

First of all, you need to decide what you need from paid advertising. Not only should you select the right platform, but you also need to determine your target audience. Here are some of the main things you need to establish before spending any money:

- Find target audience
- Find the optimal PPC channel
- Set goals (increasing traffic, sales, or brand awareness)
- Introduce KPIs
- Decide on format

While goals might change during longer campaigns, you still need to track and, if necessary, tweak ads. Most importantly, you should only focus on measurable goals to avoid unnecessary spending.

2. Create landing pages.

Creating effective landing pages is every bit as important as running ads. In the end, if people don’t interact with your content once they reach the website, there’s no point in spending money in the first place.

Ideally, your landing pages should be highly relevant to the keywords you select. As this isn’t always the case, you might wish to reroute them so they eventually land on product pages. Whatever the case, consider the potential buyer’s journey beforehand and perform A/B testing.

3. Find Right Keywords.

We differentiate four categories of keywords:

Informational
Navigational
Commercial
Transactional

In an ideal world, you should only pursue transactional as they bring the highest revenues. However, you might also benefit from commercial and, sometimes, informational phrases. Keep in mind that the keyword category also determines its price, so sales-focused terms will always be more expensive than informational ones.

To have a better understanding of how your campaign would look like, you should perform a competitive analysis. Although you don’t know how much other websites earn from certain phrases, you can mimic their strategy, thus focusing on the most lucrative phrases.

4. Create an Effective Ad.

Like with any other marketing approach, your campaign will only be as efficient as your content. The copy is the basis of your ads, followed by CTA and graphic design.

When it comes to the ad copy, it needs to be informative yet enticing enough so that people click on it. Users need to understand the potential benefits and what’s required from them. Ideally, you should target readers’ pain points.

CTA should further emphasize the point in the ad copy, while visuals can increase engagement. Keep in mind that each platform has its optimal formats, which should guide you during content creation.

5. Your Ads.

Companies can and should continuously improve their paid ads. Every once in a while, you should check how your campaigns are performing and whether there are some glaring issues. Small changes can significantly improve your conversions, so don’t be too prudent with your ads.

Here’s the best way to go about things:

Create a Google Analytics account and link it to your Google Ads. Track use metrics within the tool to understand how the ads are performing
If you’re using website ads, you’ll need to contact the host for analytics data
Create reports, analyze KPIs, and compare them to your goals
Try small tweaks to improve performance, such as changing graphics, improving text, and so on
If your ads are still underperforming after several alterations, there’s a good chance that the keyword selection was wrong. In these cases, it’s best to avoid the phrase altogether

In most cases, testing will be the best way to save money for your company.

Conclusion

Investing in SaaS PPC is the fastest way to generate fresh leads for your software company. With this marketing approach, you can quickly gain returns on your investment, which isn’t always the case with other tactics. The best thing yet is that you can always utilize a plethora of metrics to streamline the process and measure results.

Sergey Solonenko is founder of Algocentric Digital Consultancy, an active digital strategist and a fractional CMO for many B2B SaaS brands embracing digital transformation.

The SEC’s Battle Against Coinbase And Binance, Explained

Contributor

November 3, 2023

by Peter Eberle, President & Chief Investment Officer of Castle Funds

In early June, the US Securities and Exchange Commission (SEC) filed separate lawsuits against cryptocurrency companies Coinbase and Binance. The central allegation of both is that the companies were running unregistered securities exchanges. In other words, the SEC believes these companies set up their own exchanges for buying and selling assets, which were in fact, securities under the law, without following the government rules and regulations that generally protect investors.

The Coinbase and Binance cases have consequences and implications that extend far beyond the fates of these two companies. Indeed, it seems the entire crypto industry could potentially be affected by the SEC’s actions.

The SEC’s allegations

The SEC’s suit against Coinbase alleges the company created securities under its program for “staking” or lending crypto assets in return for income, which were then sold to investors without lawful disclosures and registration with the SEC. In so doing, the company “has deprived investors of significant protections, including inspection by the SEC, record-keeping requirements, and safeguards against conflicts of interest, among others,” according to the agency’s complaint.

Binance faces these same charges, as well as additional ones for allegedly misusing customer funds. For instance, the SEC alleges the company and its founder Changpeng Zhao engaged in tactics like “wash trading” to inflate prices and profit off of consumers.

The agency also contends they mixed up funds from investors and transferred them to another Zhao-owned company in an attempt to thwart the authorities. As SEC Chair Gary Gensler states, “We allege that Zhao and Binance entities engaged in an extensive web of deception, conflicts of interest, lack of disclosure, and calculated evasion of the law.”

Altogether, the SEC has brought 13 charges against Zhao and his company. These allegations could lead to criminal prosecution for fraud or similar offenses under US laws.

What’s going to happen?

First off, it will take a very long time for these cases to be resolved. They may even stretch on for years. In the meantime, Coinbase and Binance can be expected to continue to operate, and people can still use them to trade.

The likely outcome of the case will be that the core functions of these firms (i.e., running an orderly exchange, helping investors do trades, and clearing/settling those trades) will be split up and brought under similar regulations to those governing financial firms performing the same functions for securities such as bonds, stocks, and mutual funds. To stay in business, Coinbase and Binance will likely need to submit to inspections by the SEC or other regulators, keep books and records as required, and make truthful disclosures to investors.

However, that’s not where the case’s impact will end. The whole world of crypto is likely to change as a result.

Will crypto come under the SEC’s umbrella?

The actions that the SEC has taken against Coinbase and Binance will test whether or not crypto companies fall under the purview of US laws that regulate securities. Crypto companies have long sought to exploit ambiguities in the SEC’s rules and argue that their coins, tokens, and other assets are not securities. These apparent gaps in the rules exclude their activities from investor protections, such as filing audited financial statements and preventing manipulative trading such as “wash sales”.

Indeed, questioning the SEC’s jurisdiction is Coinbase’s most recent defense. “Coinbase just doesn’t list securities, period,” the business’s chief legal officer has claimed, seeking to get the case dismissed.

Whatever decision the court reaches, its ruling can be anticipated to clarify the obligations to investors and regulators that cryptocurrency exchanges incur.

How crypto will change

I foresee other changes as well. For instance, the barriers to getting new digital asset tokens launched will likely become higher as access to pools of US investor capital becomes more limited. Digital asset tokens will also probably need to make financial disclosures, such as ownership and control information, and keep this data up to date.

Any market participants that actively seek to avoid this regulation — as Binance is alleged to have done in the SEC complaint — will likely find that avoidance to be more difficult.

Finally, some investors today rely on personal and firm reputations instead of regulatory safety nets when selecting venues to invest in crypto assets. If these companies are found guilty of malfeasance, investors will become increasingly skeptical of unregulated exchanges and cautious in their decision-making.

Crypto still has a long future

While some may fear that government scrutiny will destroy the crypto industry, my team and I believe these concerns are overblown. From our perspective, the crypto space can be effectively regulated to provide investor protection. In the end, increased transparency and

accountability may even prove a good thing for the industry, making it more trustworthy to everyday investors.

For this reason, we believe that cryptocurrencies and related assets will continue to provide exciting opportunities for investors long into the future.

Peter Eberle, President and Chief Investment Officer of Castle Funds, has extensive experience in portfolio management, derivatives trading, and risk management. He earned his MBA from the University of Pennsylvania’s Wharton School of Business.

Diagnosing Your Business Leader: Builder, Decorator, Remodeler, Or Realtor?

Contributor

November 2, 2023

by Dan Adams, founder of The AIM Institute and author of “Business Builders: How to Become an Admired & Trusted Corporate Leader“

I’m on a quest to reinvigorate corporate America. My goal? To put more Builders at the top — or, at least, to inspire those already at the top to behave more like the leaders who brought them to the party.

Your company — and every company you can think of — was founded by a Builder. And while the prevailing belief seems to be that it’s okay for mature companies to ‘move on’ and be led by non-Builders, this is not true. When those at the top reject the Builder mindset, they start making errors that slow their company’s growth. Truly, in some cases, it would be better if such leaders sat at home and did nothing.

There are two conflicting leadership “types”: Builders and Decorators. Builders drive profitable, sustainable growth by delivering differentiated value to customers, as they brush aside business fads, short-term distractions, and financial gymnastics. Decorators focus on looking good to investors, quarter after quarter after quarter.

What about your own business leader? Does he or she think like a Builder? Here’s a brief profile of each type that will help you determine who’s in charge of your business.

Builders.

These leaders have a passion for organic growth. They focus on strategic markets and voice-of-customer research. They have a strong R&D project portfolio. They think in years, not quarters, because they know that’s what it takes for new products to deliver needle-moving revenue and for employee training to deliver serious change. For a Builder, nothing matches the satisfaction of understanding what customers want, delivering meaningful innovation, and watching the sales roll in.

Builders are proud of their work and inspire loyalty in their employees. It’s fun and exciting to work for a Builder, because they value people’s contributions and give them a chance to stretch themselves and develop their skills.

Decorators.

To these leaders, curb appeal is everything. They’re focused on how the place looks, and life is all about the quarterly financial report. But their work becomes an unending cycle. After each financial reporting period, they begin the same activities all over again, and in the end, their business does not change. (It’s like a business version of the movie Groundhog Day!)

Decorators think they’re doing meaningful work, but they aren’t really making a difference. The energy they put into this quarter’s financial report is squandered energy. Next year, no one will even remember that quarter that seemed so important at the time.

Decorators are near-time-horizon types of leaders, thinking in months or quarters. “If financial results were published every fortnight, their time horizon would be fortnights. Where a Builder would ask, ‘How can we grow this business?’ a Decorator would ask, ‘What costs can we cut?’ But while a Builder keeps building, at some point, a Decorator has nothing left to cut.

There’s nothing wrong with Decorating in itself: Why not look good to investors? The problem arises when Decorating occurs at the expense of Building. And it very often does, as many short-term actions degrade long-term profitable growth.

Remodelers.

These leaders are forever fixing up the place. They focus on improving quality, boosting productivity, eliminating wasteful costs, etc. These are commendable endeavors, but if nothing new is built, the company reaps diminishing returns.

Imagine you’ve been working on quality improvements. Good! But what will you do after you get to zero defects? Perhaps you’re driving down labor costs. You’ve finally reached full automation with a lights-out factory. Your productivity is fantastic, but what will you do next? You’ve reached diminishing returns.

Remodeling is good, but Remodeling without Building is a race to the bottom. It ends in commoditization. Your competitors eventually match your quality or productivity with similar products, and then the price wars begin. Bottom line: Keep Remodeling, but never stop Building.

Realtors.

These leaders love to buy and sell, reaping their rewards during mergers and acquisitions. Realtors are rewarded when the hard work of others’ hands is transferred into their hands. Realtors mostly redistribute wealth that others have created.

Research shows 70–90 percent of acquisitions fail. But some can be helpful, especially when acquiring a competency that helps your business change its growth trajectory. When you have a Builder at the helm, the acquired business can become a Building block in their Building program. With Realtors… not so much.

The problem with many Realtors is that they don’t know how to grow what they acquire. Their acquisitions become enormous distractions from the Builder’s work needed for organic growth. As a result, many Realtors are just building a house of cards.

Builders, Remodelers, Decorators, and Realtors all have their purpose, but where they fulfill that purpose makes all the difference.

If you have anyone other than a committed Builder leading your business, sooner or later you’re going to be in trouble. There’s room for the other roles discussed here… but they should be in supporting roles. Now is the time for the business leader to take a hard look at his or her mindset and beliefs about company growth — or for the company itself to rethink who is steering the ship.

*excerpted from Business Builders: How to Become an Admired & Trusted Corporate Leader (The AIM Institute, 2023, ISBN: 979-8-854-42618-3)

Dan Adams is the founder of The AIM Institute and author of “Business Builders: How to Become an Admired & Trusted Corporate Leader“. He is a chemical engineer with a listing in the National Inventors Hall of Fame. Dan has trained tens of thousands of B2B professionals globally in the front end of innovation and works with senior executives on driving profitable, sustainable growth.

How To Create A Super Modern Office On A Budget

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November 1, 2023

In today’s dynamic business environment, having a modern, efficient, and aesthetically pleasing office space is paramount. However, creating that ideal workspace doesn’t necessarily mean you have to break the bank. With strategic planning and creativity, it’s entirely possible to build a super modern office on a budget.

Here are some innovative ideas to transform your traditional office into a contemporary and functional workspace without draining your finances.

1. Flexible and Functional Furniture.

Investing in versatile and ergonomic furniture can not only enhance the aesthetics but also improve the functionality of the office. Many online retailers now offer a range of affordable, modern, and modular furniture that can be easily customized to fit any office design and space.

2. Optimizing Natural Light.

Natural light plays a significant role in boosting productivity and well-being. Eliminate heavy drapes or obstructive window coverings to let in as much natural light as possible. If necessary, install light-filtering blinds to control glare and privacy. Incorporating glass partitions can also facilitate the flow of light throughout the office.

3. Incorporate Technology.

Adopting technology is integral in modernizing your office space. Consider utilizing wireless technology, cloud-based applications, and modern communication tools to streamline operations, improve productivity, and reduce clutter. Also, ensure your office design facilitates easy access to power sources to keep devices charged and ready to use.

4. A Touch of Green.

Introducing plants to the office environment is not only aesthetically pleasing but also contributes to air purification and stress reduction. There are a variety of low-maintenance, budget-friendly indoor plants that can instantly elevate the office ambiance. Consider easy-to-care-for options like succulents, snake plants, or pothos.

5. Artistic Elements.

Art inspires creativity and innovation. But you don’t need to purchase expensive art pieces to adorn your office walls. Consider sourcing local artwork or even encouraging your employees to showcase their artwork. Introduce a picture rail hanging system which is an affordable, flexible, and elegant way to display art, photos, or awards, allowing for easy rotation and rearrangement.

6. DIY Decor.

Embrace the DIY trend. There are countless resources online, from blogs to YouTube tutorials, that can guide you in creating customized, low-cost décor that reflects your brand and culture. Upcycle old furniture, create mural walls, or design your own office accessories. It not only saves costs but also adds a personal touch to the office space.

7. Community Engagement.

Consider creating communal spaces within the office to foster interaction and collaboration. A mix of seating arrangements, communal tables, and open spaces can facilitate flexible working and encourage a community feel. Look out for second-hand or discounted furniture to furnish these areas, or explore furniture rental options.

8. Sustainable Practices.

Sustainability is at the forefront of modern office design. Consider integrating recycled materials, energy-efficient lighting, and sustainable office supplies to not only create an eco-friendly office space but also save on long-term operational costs.

In summary, creating a super modern office on a budget requires a blend of creativity, strategic planning, and resourcefulness. Consider the functionality and aesthetics of each element, and explore cost-saving alternatives that do not compromise on quality or the well-being of your employees. Your office space should not only be a reflection of your brand but also a catalyst for productivity, innovation, and growth.

Key Takeaways.

Opt for modular and ergonomic furniture that is both aesthetic and functional.
Maximize natural light and consider sustainable practices to boost energy efficiency.
Introduce budget-friendly artistic elements like a picture rail hanging system to add character and inspiration to the office space.
Embrace technology to streamline operations and create a clutter-free environment.
Consider DIY decor and community engagement to add a personal touch and foster a collaborative atmosphere.

[Photo by Austin Distel on Unsplash]

Blending Love And Passion Into Your Business Vision

Contributor

November 1, 2023

by Amber Kelleher-Andrews, CEO of Kelleher International

Anyone who knows me or has worked with me knows I love love. For me, blending passion and love for what I do isn’t anything I have to think about — it happens organically. It has fueled my matchmaking business and allowed me to live a life surrounded by love every day, with passion and goals in consistent alignment with the mission of my business.

Successful businesses must be fueled by passion, whether it’s a drive to be the first or the best at something, a deep interest in serving a particular community, or even simply to help solve a problem. There is an old adage that states, “If you do what you love, you’ll never work a day in your life.” Although much of what entrepreneurs do is hard work, there is some truth in that wisdom.

When you go into a business with love and passion coursing through your veins, it doesn’t always feel like “work.” Finding ways to align my passions with my business goals has been a journey filled with adventure — and it never gets old.

How passion fuels professions.

Having a passion for something is often what lights the initial spark of business vision. I’m a romantic at heart who felt driven to bring true love and purposeful connection into as many lives as possible. That drive to bring love into the world and help others find love wouldn’t let me go until I acted on it. It was the proverbial itch I needed to scratch. Through this passion, I have been so proud to have built the world’s #1 elite matchmaking firm.

The truth is that passion ultimately turns people into professionals. When you love what you do, it radiates from you in every interaction with clients, customers, and employees. You can better solve problems when there is passion behind your interactions with customers and clients because you believe strongly in your business mission and your “why.” You’re often willing to go the extra mile to make people happy, and any mistake or misstep is worked on until it’s made right because it matters so deeply to you.

Love and enthusiasm.

My business — matchmaking — is all about working with people. It’s a love business. Enthusiasm for love is woven into each and every interaction we have with our clients.

When you’re just starting a business — no matter what industry you’re trying to enter — you want to drum up enthusiasm in any way that you can. This often begins by simply sharing why you are starting your business, and letting the love for what you do speak for itself. That enthusiasm and belief in what you are bringing to the table will drive engagement.

Enthusiasm can be contagious, especially in today’s online communities, where people feel compelled to share content that clearly comes from a place of authenticity. This enthusiasm-building should be the cornerstone of any marketing plan — especially at the beginning of one’s business, as this is when the passion you have for your business vision should speak the loudest.

Keeping it professional.

When you’re the leader of your organization, it’s crucial to never lose sight of the original spark of passion that drew you to begin your business in the first place.

What I do can be difficult at times, but it’s a journey that is specific to each client and filled with lessons that can be applied both professionally and personally. Love is complicated, and behind the scenes, matchmaking is a business that needs professional structure.

Seek out others who share the same passions and interests as you to share valuable insights and collaboration. Build a village around yourself as a support system and a place of refuge when tough times happen within your business — and they will happen.

If your clients and customers are drawn to that enthusiasm, it’s likely your team members will be as well. They will come to believe just as strongly in your business mission because they know it comes from a place of genuine love.

Passion and love alone cannot make a business successful, but I would argue that both are essential elements of any business that has stood the test of time. It’s essential that one stays curious and committed to learning more about their chosen field. Passion can take you far, but curiosity fuels continued learning and growth.

The culture of your company is its heartbeat. When that culture is fueled by love and passion for the company’s mission, that heart will keep beating — strong and alive.

Amber Kelleher-Andrews, CEO of Kelleher International is a world renowned relationship expert, professional matchmaker, TV Personality, film producer, and philanthropy enthusiast. Amber lives out her dream job serving as CEO of her family global matchmaking firm, Kelleher International, growing it into an international multi-million-dollar premium brand that remains the leader in what is now a booming 3.5-billion dollar industry.

When Is It The Right Time To Bring On A Virtual Assistant?

Contributor

October 31, 2023

by Kathy Soulsby, author of “How To Work With A Virtual Assistant“

Bring in an assistant too early and you don’t have enough work for them to do or the budget to do it. Too late and you’re potentially already at a volume of work yourself that is excessive, and therefore finding the time to manage recruiting and onboarding a new team member is tricky.

So how do you know when it’s the right moment to bring someone into your business as a support?

Are you ready to let go?

It might be that a VA is your first experience of someone other than you working in and on your business. You may have IT support or a web designer but a VA, particularly this kind of ongoing support, is a little closer to home.

You have to be willing and emotionally ready to delegate some tasks. If absolutely everything up to this point has been done by you, this is going to feel weird. Sometimes nice-weird (“Oh thank God, that’s off my list and getting done without me, I hated it”) and sometimes annoying, frustrating, or even unhappy-weird (“Why is she doing it that way, that’s not how I’d do it!”). But either way, it will feel weird. There are a few ways to balance out the initial weirdness.

Firstly, be cautious and put security and legal measures in place so you know your business is safe. Secondly, only delegate to someone you trust. You should only give tasks to someone who understands and respects your business and your values. It is completely fine to only ask your VA to do a few easy internal tasks as they start, to ensure that you’re happy with everything before they’re let loose on client facing work. But in the fullness of time, you’ll need to let your VA take the initiative and make some decisions without your input. Otherwise, they’ll be asking you everything at every stage and it’ll take longer than if you did it yourself. If you can’t imagine a time when you would let that happen, if you know that you tend to micromanage, then be realistic about that now.

It doesn’t necessarily mean that a VA won’t work — you may just need to manage their expectations at the start and review exactly what you give them in order for you to feel comfortable. Some tasks naturally lend themselves to delegation by those who are more nervous about handing things over. A VA writing your blogs or web content for example, is likely to expect you to review it before it goes live.

Likewise, if a VA is managing your diary, you should be able to let them do that without checking each and every appointment change. If this makes you nervous and you feel that you must be involved in every transaction and every email, then you may not be ready for a VA. And of course, it’s not going to be very cost effective for you if you routinely check every single task they do.

Do you have enough work to outsource?

You may be ready, willing and poised to get someone onboard but if you don’t have enough work that someone else can pick up, you might not get a useful bang for your buck. When we are overwhelmed, it is very easy to think that we have piles and piles of things that someone else could take off us. But is this really the case? Take a careful look at your “delegate” list. As we talked about earlier, there is an initial investment of time and energy to getting a VA on board, and if you only have a teensy bit of work for them to do, it might not be worth it.

Do you have the budget?

Can you pay for enough of a VA’s time to make the relationship worthwhile for you — and them?

If you want to build a good relationship with a VA and really have someone be a useful support to you, you need to be able to invest in at least 8-10 hours a month of their time (or get to that amount quickly).

With a decent amount of monthly hours, you can invest in training your VA. They’ll know how you like to work and what your priorities are. They’ll be armed to make decisions on your behalf. They’ll add value to your business and start to free up your time to earn more money. So, can you pay for that?

Are you trying to fix a person with a resource?

Are you bringing in a VA to fix a problem you have failed to solve with something else? If you are thinking of getting a VA to support someone on the team, is that because they are overloaded or because they are unmanageable? If you can’t manage your member of staff, please don’t expect a VA to do it for you.

Do you have the time to bring a VA up to speed?

Do you have the time to recruit and onboard someone properly at this moment in your business and life, or would another point in the year get you off to a better start? Getting a VA isn’t an instant fix to getting your time back. It will, of course, in the long run, but there is an inevitable amount of time that you will need to invest in getting this project off the ground. If you do a poor job of bringing someone in, it will impact on what you get out of them. So be honest about your commitments.

How a VA could help those with ADHD

Those with ADHD (Attention Deficit Hyperactivity Disorder) brains are amazing at their brilliance, laser focused and capable of delivering fantastic work, on time, on budget and wowing those around them. However, the things that are not their brilliance they really struggle to get excited about and to get themselves motivated to do. Fortunately, more and more folks with ADHD are discovering that working with a VA can be life changing.

Outsourcing everything but your brilliance is even more critical for those whose brains work in this unique way – because unlike those of us who will (eventually) knuckle down and grumble through the things we find tedious, those with ADHD really find that challenging, so those things get left or overlooked. And if you are running a business, things like not sorting out your VAT return really can have some nasty consequences.

This is where the right VA can be a huge asset, scooping up things that are necessary but fall outside of your scope of interest and genius. A VA can also suggest systems and ways of working that might help make some of these tasks easier in the future.

Are you too much of a mess for a VA?

This is a moment for some self-examination. To put it simply, if you are a born hot mess, even the most amazing VA in the world is not going to be able to make you organised. No VA can work miracles. Just like hiring a personal trainer can’t make you thin and hiring a cleaner can’t make you tidy, hiring a VA will not make you organised. Only you can do that. A VA relationship will involve effort on your part and a level of organisation at your end to make it work.

*this is an adapted extract from “How To Work With A Virtual Assistant” by Kathy Soulsby

Kathy Soulsby has run her Virtual Assistant business, Personally Virtual, since 2014. Personally Virtual comprises a team of over thirty VAs, supporting businesses great and small with expert diary ninja and operational support. Prior to setting up Personally Virtual, Kathy was an EA for fifteen years. She is author of “How To Work With A Virtual Assistant“.

How The Leadership Dynamic Has Changed In America

Contributor

October 30, 2023

by Sean Shahkarami, CPA, CFF and author of “Resonate – Principles of Peak Performance”

“In Search of Excellence” revolutionized business leadership by promoting the concept of management by walking around. The classic leadership book encouraged managers to get out of their offices and interact with the workforce, walking around in random and unstructured ways. It changed the dynamic of leadership by increasing the value of observing, listening, and engaging with those who are on the front lines of day-to-day business operations.

In today’s business world, management by walking around isn’t nearly as effective as it once was because leaders who walk around the office find empty desks. The COVID-19 pandemic has led to a dispersed and largely de-personalized workplace. AI-driven automation is leading to a historic reduction in force, and engagement with workers who remain often involves exchanges between avatars on a messaging app.

The leadership dynamic has changed. To remain effective, today’s leaders need to adapt to a new workplace landscape, shifting their focus to developing skills that address new challenges.

Finding a new leadership rhythm

Change is hard. Failing to acknowledge change, however, makes it even harder.

To thrive in the new dynamic, leaders must understand and embrace the rhythm of the moment. The new workplace landscape has a different rhythm than it did only a few years ago. The best leaders will be those who can move in sync with the present reality.

For example, trust building has become an essential leadership skill as the workplace dynamic has changed. Monitoring employees in person is no longer an option for many leaders. A new approach is needed that allows autonomy while also requiring results.

Leaders looking to establish trust must start with clear expectations. Employees should understand what they are expected to deliver and how their performance impacts overall company performance. Norms for response times should also be established. Employees need to know if leaders expect emails or other messages to be answered within an hour, 24 hours, or by EOD.

Managing the new dynamic also requires leaders to be master motivators, as motivating distributed teams is exponentially harder than motivating the traditional in-office workforce. Remote workers don’t benefit from face-to-face interactions with leadership. They also have a lot more distractions.

Transparency has come to be seen as a critical component of motivation in today’s workplace. Employees want to know the “why” behind the “what.” Providing context helps employees to embrace and support business decisions and initiatives.

Thriving as a young leader

The new dynamic can be especially hard on aspiring and emerging leaders. The challenges within the workplace combined with external forces like poor economic conditions and disrupted supply chains leave little time for established leaders to support those on the rise.

Consequently, young leaders may need to find their own opportunities. Staying focused on goals and confident in abilities is critical. The best young leaders will learn how to be ethically and morally ruthless in their pursuit of good and truth. Removing anything non-essential to success will destroy the distractions and allow for optimal preparation.

Young leaders who are able to connect with mentors must be careful to stay true to themselves. Seasoned leaders can tend to project their own insecurities and thought patterns on those who lack experience, coaching it in terms of “wise advice.” In those situations, eat the meat (if there is any) and spit out the bones.

Young leaders should also be ready to decide quickly and move with urgency. Today’s business dynamic requires flexibility and adaptability. A fear of making mistakes shouldn’t discourage leaders from acting decisively; rather, failure is life’s great teacher. Indecision — not failure — is what young leaders should fear.

Surviving the leadership crisis

There is a leadership crisis in America today. Buffeted by rising costs, labor shortages, and economic uncertainty, many leaders have adopted a “profit at any cost” mentality. As a result, employees are neglected and peak performance is not achieved.

To keep the crisis from becoming a disaster, leaders must change their perspective and their approach in order to find ways that make the workplace engaging and inspiring again. Success requires prioritizing practices that resonate with the new dynamics of leadership.

Sean Shahkarami is a visionary leader, entrepreneur, author, executive and corporate coach, adjunct college professor, and public speaker. For his work in education, coaching, speaking in University classrooms, and his first book, “Resonate – Principles of Peak Performance,” he was awarded the Outstanding Leadership Award at the Health 2.0 Conference in acknowledgment of the innovative performance of his start-up healthcare AI software business.

Intrapreneurship For The Modern Workforce

Contributor

October 27, 2023

by Bjoern Sjut, managing director of productivity and IT at Front Row

What do the McDonalds Happy Meal, the Apple Macintosh, and the Post-It Note have in common? They are all products developed by intrapreneurs. That’s not a spelling error — intrapreneurs function as entrepreneurs within an organization.

Read on to learn what intrapreneurship is, why it matters, and how it can benefit your business.

What is intrapreneurship?

Intrapreneurship is a system of encouraging employees to act as entrepreneurs within a company instead of independently. Intrapreneurs identify areas of opportunity and use the company’s resources to create products and services to generate revenue and develop new, optimized processes to maximize efficiency.

Why is intrapreneurship important?

Ideally, intrapreneurship is a win-win for both the employee and the company. The employee gets to shape their work in challenging and fulfilling ways, carving out a career path that suits their unique goals and talents. The company gets a source of new ideas and initiatives, leveraging existing talent and hopefully retaining that talent long-term. By creating an environment encouraging intrapreneurs, your company can develop an agile workforce to identify and solve emerging problems, drive revenue, and minimize waste.

What are some issues with intrapreneurship?

Entrepreneurs absorb most, if not all, of the risk in new ventures. However, intrapreneurs draw on company resources, so the business takes on the risk. That means that if an intrapreneur identifies a problem or opportunity and develops a process, service, or product to address it, there is a chance that it could fail and that failure will cost the company money and time.

Why might intrapreneurs fail?

Just like entrepreneur-driven ventures, intrapreneur-driven ventures can fail within companies.

There are a few possible reasons for failure:

Resistance to change. If the new venture requires change from other employees, they might not see its value and resist making the necessary changes for success.
Lack of resources. It can fail if the company does not provide sufficient resources for the new venture in terms of time, labor, and capital.
The venture is not viable. Even if enough resources exist and sufficient buy-in from all stakeholders, the venture may fail because of a lack of fit between problem and solution. The problem may not be well-defined, the solution may not work, or simply not fit the problem.

What are some benefits of intrapreneurship?

If companies assume the risk of intrapreneurship and failure is possible, why encourage it? Here are some reasons:

New ideas. Simply put, intrapreneurs are innovators. They see opportunities where others see none, which can give your business new ways to cut costs, enter new markets to open, and new ways to serve customers. Some might use new technologies like ecommerce data analytics to identify potential opportunities.
Agile problem-solving. Intrapreneurs can often solve business problems more quickly and creatively when given the latitude to think outside the box instead of sticking to SOPs that might not fit emerging situations.
Greater job satisfaction. Unsurprisingly, a work environment encouraging intrapreneurship often leads to higher employee job satisfaction and can drive greater engagement and retention.

How can you encourage intrapreneurship in your business?

Are you convinced that intrapreneurship could help your business? Here are some ideas to encourage it:

Prioritize innovation. Model it yourself and expect it in your employees. Some companies, like 3M, have famously built time in their employees’ schedules for pursuing innovative ideas. Could this work for your company?
Allow failure. In environments where failure is frowned upon or even punished, intrapreneurship cannot thrive. Work to create an environment where employees feel free to try new things, understanding that short-term failure can often lead to long-term success.
Celebrate creative problem-solving. Recognize employees who are attacking problems in new and creative ways. Let them hear it from you in person and front of their peers, formally (at awards ceremonies), or informally (through a company newsletter intranet).

Encouraging employees to think like entrepreneurs can bring fresh ideas and make work more enjoyable. While it might have some challenges, the benefits, like staying ahead in the market, make it a worthwhile approach for modern businesses.

Bjoern Sjut is the managing director of productivity and IT at Front Row, which offers custom ecommerce data analytics solutions. Previously, he was co-founder and CEO at Finc3, now part of Front Row. Bjoern is a frequent speaker at international online marketing events. Previously, Bjoern was a member of the marketing board at international dating platforms be2 and C-date. He also co-founded the wine platform Navinum.

Not Using Social? Here Are 3 Ways You’re Missing Out

admin

October 27, 2023

Nearly nine in 10 consumers say they will purchase from a brand they follow via social media. And around eight in 10 admit they’ll favor such a brand over a rival brand.

Since social media can help you reach consumers, grab their attention, and set yourself apart, you can’t afford to ignore it or underutilize it when marketing your business. With 4.8 billion social media users globally, you’re potentially ignoring 92.7% of all internet users and 59.9% of the world’s population if you’re not using social media.

Whether you already make good use of social media or you’ve been slow to use it for your business marketing efforts, here’s a look at three ways social media can help.

You’ll be able to communicate your company’s unique value proposition and get ahead.

1. Brand Awareness.

Remember that stat about the nearly 5 billion people on the planet on social media? Imagine being able to target consumers fitting your demographic in different cities, different countries, and different continents. Social media provides the tools to do so.

You can increase brand awareness by using social media to drill down and focus on your target demographic. Social media sites like Facebook, Instagram, and others make reaching out to people who fit your ideal customer profile easy. You can target consumers based on criteria that include, but aren’t limited to, the following:

Age
Language
Location
Interests
Income

Instead of casting out a sizeable proverbial net and reaching tons of people who aren’t likely to be interested in your products or services, you can target specific consumers. It’s about maximizing your marketing budget and getting a return on your investment.

2. Consumer Engagement.

The average user spends approximately 2.5 hours daily on social media. That adds up to 864 hours annually or the equivalent of 36 days a year. So, you’ll have plenty of time to engage with your target demographic and encourage them to reciprocate.

It takes multiple exposures to your brand for consumers to become familiar with it and want to purchase your products or services. So, the time many people spend on social media can benefit your company since you’ll have opportunities to engage them.

Developing an effective consumer engagement strategy will take time. You’ll want your company’s marketing department to lead the initiative, monitor progress, and adjust as needed. You might want to hold strategy meetings at work to brainstorm and discuss ways to boost consumer engagement. If the weather’s okay, you get outside your business space to enjoy the great outdoors with a BBQ, an outdoor pizza oven, or a potluck so that everyone’s on the same page and the creative juices start to flow.

3. Enhance Customer Experience.

Customer experience is something you need to invest in. Consider the following findings about the importance of offering a great customer experience:

84% of businesses that prioritize customer experience realize a revenue boost
96% of consumers say they’ll show brand loyalty if the customer service is good
77% of people say inadequate customer experiences reduce their quality of life

You can’t afford to drop the ball regarding customer experience. Many consumers will seek other businesses to patronize if they’re unimpressed with your commitment to providing a stellar customer experience. You can improve customer experience by using social media to communicate with consumers, solicit their feedback, respond to their concerns, and provide value through customer service and helpful information.

Whether you operate your small business from an office or from your home, you must invest in marketing to grow and avoid complacency. Social media is one way to reach your target demographic, turn them into customers, and grow your business.

6 Career Trends To be Aware Of When Planning Your Career

Contributor

October 26, 2023

by Asad Husain, author of “Careers Unleashed“

If you desire any degree of success in your career, you must demonstrate your relevance to the most significant business problems of today and tomorrow. Your education, knowledge, skills, mindset and experience must help you solve problems that businesses have today and tomorrow. No matter what path you choose for your career, if you are not relevant to the world of work today and where it will head, you will not thrive, or even survive, in your career.

What causes career irrelevance? The most significant cause is when the speed of change around you at work or in your profession is faster than the speed of change within yourself. We are experiencing a world of work where change is continuous, and the pace of change is faster than ever before, moving us faster towards irrelevance.

To counter this, you need to continuously unlearn and relearn by taking multiple dips into acquiring new education, knowledge, skills and experiences to tackle the business problems of today and tomorrow. The more pertinent these are, the higher the probability that you will significantly impact the business. The more significant your impact, the higher your chances of having an extraordinary career. Does this resonate with you?

The changing career landscape

Over the last three years, almost everything we know about careers changed as we saw significant global disruptions at work, bringing the future forward at an accelerated pace. What we thought would require years to implement and was cost-prohibitive started happening almost overnight. The nature of the Covid-19 pandemic did not cause these accelerated global shifts. These trends existed before 2020, but the pandemic escalated and magnified them.

Similarly, almost everything we know about careers has changed during this time, but the trends were also there before. The pandemic intensified them, and the unimaginable and tragic loss of lives across the globe made us pause and reset what is important to us in life and where we are spending our time. The result is that how we got to where we are in our careers, whether by design, accident or happenstance, will not help us much in getting where we want to go, or maybe even survive, any longer. New wirings are now in place. Regeneration has taken place.

There are six key career trends that need to be understood before anyone puts together a career game plan. Without understanding these trends, you will find it challenging to remain relevant and struggle to take charge of your career.

Career Trend #1: Embracing longer careers.

Assuming you start working at the age of twenty-two and retire at sixty-five, a typical career span would result in you working a total of approximately 75,551 hours over the course of your career. This already seems like a long time.

Now consider two other factors. First, the average life expectancy has been increasing globally over the past few decades, second, people are generally not saving more to account for a possible longer retirement. How long will your career be, and how will you stay relevant in a continuously changing world?

Career Trend #2: Mastering strategic choices for happiness at work.

Gallup’s ‘State of the Global Workplace 2022’ report on worldwide engagement states that only 21% of employees are engaged. More worrisome is that 19% are, in fact, unhappy. So, 79% of the workforce is either disengaged or unhappy at work. Wow!

You must make strategic and thoughtful career decisions to avoid long periods of disengagement and unhappiness, not meeting your career expectations and possibly adversely impacting your health, wellbeing and relationships.

Career Trend #3: Aligning work values for success and fulfillment.

Work values are priorities, beliefs, ethics and morals that drive our motivation and behavior at work. Work-life balance is not enough anymore. As employees are also looking for flexibility regarding where and when to work. The pandemic blew away the myths that remote work is not possible at a large scale, will take a long time to implement, and will not be productive.

For the employee, understanding one’s career aspirations and the work values accompanying it is critical to enable a better and happier life. Do you have your work values figured out?

Career Trend #4: Navigating the ‘jungle gym’ of careers.

Planning a career has always been important, but never more than now, and preparing for it in today’s new world of work requires new thinking. In designing a successful and fulfilling career, we can no longer consider following the traditional linear career path or ladder.

People are continually moving, changing jobs every three years on average, and working for twelve-plus companies in their careers. Additionally, the Covid-19 ‘rethink and reset’ has led to many people pivoting to something completely different and new in their careers, but something they enjoy doing. Others have side hustles while working day jobs, adventuring into the creator economy. Given the above dynamics of the turbulent workplace and how employees see their careers, if the linear ladder is outdated, how should you think about career progression?

Career Trend #5: The expanding career horizon.

Another significant trend impacting the world of work and careers is the number and diversity of career options available. You must reimagine all your career options and be ready to reinvent yourself to pursue some of them.

Open your mind to having a career in multiple disciplines, functions, and capacities (for example, employee, owner, creator, advisor), interjected with several stints in learning.

Career Trend #6: Skills as the currency of success.

The world of work has changed and continues to do so at warp speed. Early in the pandemic, it was mostly about business continuity and survival, but now organisations are focused on thriving in this ever-changing environment.

Whereas jobs used to be central to organisational design, the focus is now on upskilling and reskilling the workforce. To succeed, organisations are becoming much more fluid and adapting with speed to a continually changing landscape. The implication for careers is that you will need to grow, evolve and reinvent yourself continuously in terms of skills.

Conclusion

Being in charge of your career means you are proactive, aware of trends, and adapt as you go along. Sleepwalking for long periods in jobs is not going to be possible. You must make a mental shift towards a continuous reinvention of yourself to remain relevant and, therefore, employable. It is critical to have clarity in order to construct an extraordinary career that leads you to success and fulfillment, so take time to reflect and think about what you really want from your career in the future.

*this is an adapted book extract from “Careers Unleashed” by Asad Husain

Author of “Careers Unleashed“, Asad Husain is a future-focused HR leader who is passionate about inspiring and influencing people worldwide to achieve their career aspirations. Holding over thirty-one years of experience contributing to organisational growth and individual success in companies like Gillette Company, Asad is keen to share his global learnings to inspire success.

Nurturing Success: The Dynamic Relationship Between Strategy And Culture

Contributor

October 25, 2023

by Alex Brueckmann, author of “The Strategy Legacy: How To Future-Proof A Business And Leave Your Mark“

Every industry buzzes with catchphrases that capture attention and spark debates. One such phrase that often evokes mixed reactions is “culture eats strategy for breakfast.” While it may sound profound, I cringe when I hear it. Let’s delve into the reasons behind my skepticism and explore the nuanced relationship between strategy and culture.

Reason 1: It’s an excuse for leadership failure.

When a new strategy is introduced, it signifies change. However, if the existing organizational culture is resistant to change, it is the responsibility of leaders to navigate this challenge successfully. Effective leadership entails communicating the strategy, engaging employees, and helping them understand their roles in bringing the strategy to life. It is unfair to solely blame culture when leaders fail to communicate and rally the workforce effectively. By addressing communication gaps and fostering a culture of openness, leaders can bridge the divide and create an environment conducive to strategic success.

When a new strategy required sales leaders to shift focus from being a top sales rep to coaching the teams to higher performance, I witnessed this phenomenon first hand. Despite all the support and training provided, the sales leaders still felt uncomfortable. They came up with all kinds of excuses why this wouldn’t be the best use of their time, and why the teams wouldn’t accept this shift in involvement. The main argument was that the culture wasn’t ready for it. What they didn’t embrace: it was their very responsibility to shape a new culture through stepping up their game as leaders.

Reason 2: Strategy shapes culture.

While culture undoubtedly influences an organization’s dynamics, the reverse is equally true: strategy shapes culture. Business strategy provides a guiding framework that aligns organizational goals, clarifies expectations, and fosters transparency. When strategy is well-defined and effectively communicated, it eliminates excuses for undesired behavior and resource wastage. It empowers employees to become advocates for change, encouraging them to embrace the strategy and contribute to a high-performance culture. By leveraging strategy as a catalyst for cultural transformation, organizations create an environment that embraces innovation, collaboration, and adaptability.

An executive team I worked with had redefined their target industries and consequently identified target clients. The team realized that their business’s unique strengths differentiated them from the competition for particular clients in a specific revenue range. They explicitly decided against working for the largest players in the industry: because the service levels these accounts asked for required a number of resources the business was unwilling to provide. At that point, the VP of sales made a comment that reflected the power of strategy: “My team might not be overly happy to hear about this decision, but it gives them the clarity they need, to appropriately handle incoming requests. Now we can focus all resources into one aligned direction.”

Reason 3: Peter Drucker NEVER said it.

Misattributions are not uncommon, and the phrase “culture eats strategy for breakfast” falls into this category. In fact, it has been erroneously attributed to management guru Peter Drucker. For those who doubt this claim, a simple visit to the Peter Drucker Forum website will reveal a collection of Drucker misquotations, with “Culture Eats Strategy for Breakfast” being one of them.

What Drucker said was this: “Culture — no matter how defined — is singularly persistent.” Drucker emphasized the persistence of culture, regardless of its specific definition. Culture is a deeply ingrained force within organizations that influences behaviors, values, and decision-making. It remains resilient even amidst changes in strategies or structures. Leaders must recognize and understand the existing culture to shape it in line with desired outcomes. Cultivating the desired culture requires attention and promotion of behaviors that support strategic direction.

The Dynamic Relationship Between Strategy and Culture

To truly grasp the intricate relationship between strategy and culture, we must recognize that they are intertwined and influence one another in a continuous feedback loop. A well-crafted strategy considers the existing culture, leveraging its strengths while addressing areas that require improvement. At the same time, a healthy organizational culture is characterized by values, norms, and behaviors that align with the strategic direction. Conversely, a misaligned or toxic culture can undermine even the most brilliant strategy. Therefore, leaders must cultivate a culture that supports and reinforces the desired strategic outcomes. This involves fostering open communication, encouraging collaboration, recognizing, and rewarding desired behaviors, and providing opportunities for growth and development.

The relationship between strategy and culture is complex and multifaceted. While the catchphrase “culture eats strategy for breakfast” may grab attention, it oversimplifies the reality. Strategy and culture are not adversaries; when aligned, they drive organizational success. Leaders must take responsibility for effectively communicating and implementing strategy, while also nurturing a culture that supports the desired strategic outcomes. By understanding the dynamic interplay between strategy and culture, organizations can navigate change, drive innovation, and foster a high-performance environment that propels them towards their goals.

Alex Brueckmann is author of “The Strategy Legacy: How To Future-Proof A Business And Leave Your Mark”, is an executive thought partner, strategy facilitator, and speaker. He talks about the power of strategy and identity, transformation leadership, purpose, impact, and legacy.

The Spending Spiral: Unpacking American Consumer Debt Issues

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October 25, 2023

Consumer debt in the United States is a growing concern that impacts individuals and families across the economic spectrum. The ease of access to credit cards and loans, coupled with a culture of consumerism, has contributed to a landscape where many find themselves in a precarious financial situation. The burden of debt not only affects personal finances but also has broader implications on mental health and societal well-being.

A spending spiral often starts subtly, sometimes with a single unplanned purchase or an unexpected expense. Over time, these seemingly minor expenditures can accumulate, leading to a situation where individuals find themselves struggling to keep up with mounting debts. Recognizing the signs of a spending spiral early on, such as consistently growing credit card balances or the inability to save money, is crucial in taking steps to reverse the course.

The problem of consumer debt is not solely a result of individual choices, but also of systemic influences. Marketing tactics, societal pressures to “keep up with the Joneses”, and sometimes, a lack of financial literacy contribute to the growing debt problem. Understanding the interaction between personal choices and external influences can provide a more nuanced view of the debt issue, enabling better-informed strategies to address it.

Factors Fueling the Debt Dilemma

The Societal Push Towards Consumerism and Its Implications.

Consumerism is often driven by a constant barrage of advertising and societal expectations to own the latest gadgets or follow the newest trends. This push towards acquisition can lead to a cycle of spending beyond one’s means, eventually causing financial strain. The allure of instant gratification often overshadows the long-term financial implications, thus fueling the debt dilemma many face today.

The Appeal of Credit.

Credit cards and loans offer the attraction of immediate purchasing power. While they can be useful tools when managed wisely, they also present hidden dangers. The ease of swiping a card can sometimes obscure the reality of the accruing debt, leading to a snowball effect where balances grow, interest compounds, and the debt becomes increasingly unmanageable. Educating oneself about the terms and conditions of credit, along with disciplined usage, can help mitigate these risks.

Life is unpredictable, and unexpected expenses can arise at any moment. Whether it’s a medical emergency, car repair, or job loss, these unforeseen events can quickly derail a budget. Many Americans lack a sufficient emergency fund to cover such expenses, leading to increased reliance on credit. This reliance often exacerbates the debt situation, highlighting the importance of building a financial safety net to navigate through life’s uncertainties.

Unwanted Monthly Subscriptions

It’s easy to underestimate the impact of small, recurring expenses. However, over time, they can significantly drain our financial resources. The charges for unwanted subscriptions may seem minuscule on a monthly basis, but when aggregated over a year, the financial outlay becomes more apparent. These small expenses often fly under the radar, gradually eating into our budgets and contributing to the larger issue of consumer debt.

There’s a psychological aspect to holding onto subscriptions we no longer need. Sometimes, it’s the optimism that we’ll use the service “someday”, or the fear of missing out that keeps us hooked. Additionally, the hassle of going through cancellation processes can be a deterrent. Understanding this psychology and overcoming the inertia to cancel unwanted subscriptions is a step towards regaining control over our financial situation.

Assessing the Long-Term Impact.

Over the long term, the cost of unwanted subscriptions can be substantial. Not only do they strain our monthly budgets, but they also divert funds that could be used to pay down debt or save for future needs. The cumulative cost of these subscriptions contributes to the financial stress experienced by many individuals, highlighting the importance of regular subscription audits to eliminate unnecessary expenses.

Tools and Tactics

Using an Online Subscription Manager.

Managing multiple subscriptions can be a daunting task. Thankfully, technology has provided solutions like the online subscription manager. These platforms consolidate all your subscriptions in one place, providing a clear view of all recurring charges. This centralized view is invaluable in identifying and eliminating subscriptions that are no longer needed, thus helping to manage your finances better.

Review and Manage Monthly Subscriptions.

Implementing a routine to manage monthly subscriptions is vital. Set aside time each month to review all your subscriptions. Look for any that are no longer used, or where the value derived doesn’t justify the cost. Be prepared to make tough decisions to cancel services that aren’t essential.

Adopting such a disciplined approach toward subscription management can foster healthier financial habits and contribute to alleviating the debt burden.

Cancel Unwanted Subscriptions.

Taking the initiative to cancel recurring monthly bills from unwanted subscriptions requires a systematic approach. Begin by listing all your subscriptions, then decide which ones to keep and which to cancel. Contact the service providers to cancel the subscriptions, and ensure you receive confirmation of the cancellation. Keeping a record of these interactions can be helpful should any issues arise later. By following a structured approach to cancellation, you can ensure a smoother process and take a step toward reducing monthly expenditures.

Other Key Debt Contributors

High-Interest Loans and the Debt Trap.

High-interest loans such as payday loans and credit card debts can be particularly debilitating. The appeal of quick cash or instant credit often masks the hefty interest rates that accompany these loans. Over time, the accumulated interest can result in a debt amount that far exceeds the original borrowed sum, trapping individuals in a vicious cycle of debt that can be hard to escape.

Lack of Financial Literacy and Its Repercussions.

Financial education is a critical component of managing money effectively, yet it’s often overlooked. A lack of understanding about budgeting, saving, and the implications of debt can lead to poor financial decisions. Without a solid foundation, individuals may find it difficult to navigate the complexities of interest rates, loan terms, and other financial matters, potentially exacerbating their debt issues.

The Impact of Life Events.

Life events like job loss, medical emergencies, or family crises can have a profound impact on financial stability. Without sufficient savings or a financial cushion, these events can lead to a reliance on credit, further fueling the debt cycle. It underscores the importance of having an emergency fund and insurance to mitigate the financial implications of unforeseen life events.

Proactive Steps Towards Financial Stability

Creating and Adhering to a Realistic Budget.

Creating a realistic budget is a fundamental step toward financial stability. It involves a thorough assessment of income, expenses, and financial goals. Adhering to a budget requires discipline and a willingness to make necessary adjustments to spending habits. Over time, a well-managed budget can provide a clear path out of debt and towards a more secure financial future.

Financial Counseling and Education.

Financial counseling and education can provide invaluable insights into managing money effectively. Professional counselors can help individuals understand the root causes of their debt issues and develop strategies to overcome them. Additionally, financial education programs can equip individuals with the knowledge and skills needed to make informed financial decisions, ultimately promoting long-term financial health.

Saving and Investing for the Future.

Saving and investing are essential practices for breaking the cycle of debt and building financial security. By prioritizing savings and exploring investment opportunities, individuals can create a financial buffer that protects against unexpected expenses. Moreover, investing can provide a pathway to growing wealth over time, offering a sense of financial freedom and a way to escape the constraints of ongoing debt.

Financial awareness is a powerful tool in navigating the complex landscape of consumer debt. It’s about understanding the implications of financial decisions, being mindful of the influences that drive spending behavior, and possessing the knowledge to manage finances effectively.

Adopting a proactive approach to finances is about taking control and making informed decisions that align with long-term financial goals. It entails actively managing spending, saving, and investing with a clear understanding of the potential outcomes.

Informed decisions are empowering. They provide a sense of control and the ability to navigate financial challenges with confidence. Whether it’s deciding to avoid high-interest loans, cancel unwanted subscriptions, or seek financial counseling, informed decisions are the cornerstone of financial empowerment. Reiterating this empowerment, we encourage readers to continue educating themselves and making choices that foster financial independence and a secure financial future.

Rethinking Influence In The Age Of AI: Five (Human) Strategies To Embrace Right Now

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October 24, 2023

by Robert L. Dilenschneider, author of “The Ultimate Guide to Power & Influence: Everything You Need to Know“

Whatever our profession, most of us want to grow our influence — even if we’ve never thought of it in those terms. After all, the ability to influence others is at the heart of success. It’s what makes us great leaders, persuasive communicators, and productive professionals. It’s what gets us noticed, listened to, taken seriously, hired, promoted, and generally respected.

It used to be that the building blocks of influence were self-evident. Intelligence (both IQ and EQ). Authenticity. Work ethic. Innovative thinking and problem-solving savvy. And, of course, the ability to convey these qualities in the messages we share. These are the things humans respond to. But when a force that’s decidedly non-human sweeps in and upends the status quo — what then? (Yes, I’m talking about artificial intelligence.)

The rise of generative AI is more than a technological wave; it’s a seismic shift that’s disrupting everything. It stands to reason that advances in AI will also change the way we build influence — but how? And how much?

Having spent more than five decades advising Fortune 500 companies and government officials and working with international media, I believe both those who fear programs like ChatGPT and those who fetishize it are missing the mark.

We can’t ignore or wish away the fact that certain tasks and even jobs may soon become obsolete. On the other hand, we can’t assume we can type a few sentences into a text box and, suddenly, we’re home free. We still must do the hard part — the creative thinking and the genuine connecting.

Here are vital strategies for growing your influence in the age of AI.

Think quality over quantity, substance over superficiality.

Yes, programs like ChatGPT can churn out content by the megabyte, but more isn’t always better. With the constant barrage of information, what stands out is meaningful, intentional communication.

Before hitting ‘publish,’ ask yourself: Will this content make someone pause and think? Does it say something relevant about your brand or field? If not, consider revising or even discarding it.

Seek always to connect unconnected dots.

AI might crunch numbers better than any human, but it’s not about to write the next great novel. (This is not to say that AI can’t write a book of sorts. It definitely can. But that book would surely be missing the spark that makes people think and feel.) The point is that there’s a gap that only human creativity can fill.

In every pursuit, spend time brainstorming new ways of approaching old problems. How can you see the unseen angles? What can you bring to the table that no algorithm can?

Prioritize real-world relationships. They still mean something.

A story from my experience. A client was fixated on leveraging social media for a significant project. I told him, ‘You have seven key people you need to influence. Forget the hashtags; have real conversations with them.’ He did, and it worked.

The point? Take some time to identify the real decision-makers in your network, the people who actually move the needle, and connect with them genuinely.

Authenticity matters even more in the Algorithmic Age. Look for ways to provide the personal touch.

Amid the deluge of impersonal pixels and machine-generated content, a genuine human interaction is like a breath of fresh air.

Think about it: When was the last time you received a handwritten thank-you note? What about a holiday gift that wasn’t a generic fruit basket but rather an original autographed copy of your favorite book? These gestures can be time-consuming, but consider the lasting impression they leave.

Embrace lifelong learning. (That includes AI.)

Yes, if we’re being honest, many of us will admit we find the concept of AI a little scary. But part of remaining a vital professional is stretching ourselves and staying current. Think of AI as a method for extending your abilities, not a threat to them. Just remember, it’s a tool, not a “get-out-of-hard-work-free” ticket.

It isn’t about becoming a programmer overnight. It’s about recognizing the applications of AI and data analytics in your field and staying ahead of the curve. It’s about gaining a working knowledge of a new approach, so you’ll at least know how to think and talk about it. Take a class, or just download ChatGPT and try it out. Familiarity alleviates fear.

As we navigate the complexities introduced by AI, let these strategies serve as your North Star.

The essence of influence isn’t about keeping up with the machines as much as it is reaffirming the qualities that make us fundamentally human.

Robert L. Dilenschneider, founder and CEO of The Dilenschneider Group, is one of the world’s foremost communication experts and leadership coaches. Dilenschneider has authored 18 seminal business and career development books. He has counseled major corporations and professional groups around the globe and is frequently called upon by the media to provide commentary and strategic public relations insights on major news stories.

The ROI On Cybersecurity: How To Talk To The Board In Their Language

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October 23, 2023

by Joseph Carson, Chief Security Scientist & Advisory CISO at Delinea

In today’s digital era, cybersecurity stands as a cornerstone for the well-being and growth of businesses. However, even in the face of rising data breaches, ransomware, and various cyber threats, persuading the board to funnel resources into comprehensive cybersecurity strategies isn’t always straightforward.

This challenge arises primarily from the intricacies of presenting a tangible return on investment (ROI) linked to cybersecurity efforts. Most boards focus on business metrics, earnings, and strategic capital allocations, while cybersecurity centers on reducing risks and dealing with intangible elements like “emerging threats.”

Overcoming this dialogue barrier is pivotal in ensuring the board comprehends the importance of cybersecurity and recognizes its worth.

Understanding the Language of the Board

To effectively communicate with the board about cybersecurity investments, it’s crucial to understand their language – the language of finance and strategic business planning. Here are some key concepts and pain points typically expressed by board members:

Return on Investment (ROI).

A consistent concern for the board is the ROI of any potential investment. They seek clarity on the tangible and intangible benefits the company will receive relative to its investments. For cybersecurity, the gains are often about avoiding potential setbacks rather than directly increasing profits. Implementing solutions like Privileged Access Management (PAM) can provide a measurable ROI by reducing wasted time on resetting passwords, secure access to applications and systems or reducing the risk of unauthorized access by malicious attackers.

Business Risk Mitigation.

Board members understand risk dynamics well. They recognize that risks can’t always be avoided but can be monitored and reduced. In cybersecurity conversations, emphasize how the intended investment will curtail the threat of cyber incidents and align those risks to the subsequent financial losses.

Cost-Benefit Analysis.

Cost-benefit analysis is an analytical approach employed by the board to weigh the prospective benefits against the inherent costs of an initiative. Within the cybersecurity context, the advantages often involve safeguarding brand image, avoiding regulatory penalties, protecting revenue, and defending vital business data.

Long-term Strategic Value.

Board members gravitate towards ventures that promise sustained strategic advancement. Regarding cybersecurity, this involves sustaining customer loyalty, assuring uninterrupted business operations, and carving a niche advantage in the industry.

By speaking the board’s language, you can highlight the value of cybersecurity in terms they understand, making it easier to secure buy-in for necessary cybersecurity initiatives.

The True Cost of Inadequate Cybersecurity

In today’s digital landscape, cybersecurity has transitioned from being optional to indispensable. Overlooking or underinvesting in securing Remote Desktop Protocol (RDP) or Active Directory could inflict substantial immediate and subsequent expenses to organizations that dwarf their primary security investments.

Below we’ll examine some of the direct and indirect costs associated with inadequate cybersecurity:

Direct Costs.

Direct costs are the immediate, tangible losses a business incurs following a cybersecurity breach. They include:

Incident Response: Costs linked to the identification of the breach, its containment, and removal from systems.
Recovery and Remediation: This pertains to expenses for recovering lost data, fixing breached systems, and setting up defenses against possible future attacks.
Regulatory Fines: Organizations might be subjected to substantial fines by regulatory authorities if they neglect safeguarding sensitive client information.
Legal Costs: In situations where consumer information is jeopardized, there’s a potential for legal action, including attorney fees and prospective compensation settlements.

Indirect Costs.

Indirect costs, while less immediately apparent, can have long-lasting effects on a business. These include:

Reputational Damage: Trust is a fragile commodity. A breach can drastically tarnish an organization’s image, inducing potential business losses and declining market positioning.
Loss of Customer Trust: Following the disclosure of a breach, consumers may doubt the organization’s data security competencies, influencing both current and future business relationships.
Operational Disruption: Major cyber incidents can halt regular business functionality, leading to productivity gaps and increased operational spending.

Consider the infamous Equifax data infringement of 2017 as an example. This incident led to the release of the personal details of 147 million individuals and resulted in direct costs upwards of $1.4 billion for Equifax. While harder to gauge monetarily, the ensuing damage to its reputation and customer confidence was immense.

The true cost of inadequate cybersecurity is multifaceted and extends far beyond the immediate financial impact. It can disrupt operations, damage reputation, and erode customer trust. Investing in robust cybersecurity measures is about reducing the risks of potential losses and safeguarding the company’s future.

Calculating the ROI on Cybersecurity

Calculating the Return on Investment (ROI) in cybersecurity can be challenging due to its intangible nature.

Unlike other investments, cybersecurity doesn’t typically generate revenue. Instead, it helps protect revenueprevent losses and secureprotects the company’s digital assets. Therefore, the ROI for cybersecurity is often calculated based on cost savings from potential threats that didn’t materialize thanks to the implemented security measures.

Here’s a basic framework to calculate the ROI on cybersecurity:

Identify Potential Losses: Begin by determining what’s at stake if a cyberattack hits your organization. This includes direct expenses like system restoration and legal fees, as well as indirect hits like damage to your brand and erosion of customer confidence.
Estimate the Probability of a Cyberattack: While exact predictions are hard to nail down, historical data and industry trends can offer insights into the chance of a cyberattack targeting your business.
Calculate Potential Cost Savings: Multiply the assessed risks of a cyberattack by its estimated probability to gauge the potential savings from specific cybersecurity measures.
Subtract the Cost of Cybersecurity Investments: Finally, deduct the cost for your cybersecurity strategies from the estimated savings to get the ROI.

For instance, if risks from a cyber incident are valued at $10 million, and there’s a 20% chance of it happening, the potential savings stand at $2 million. If you’ve spent $500,000 on cybersecurity, the ROI comes to $1.5 million ($2 million minus $500,000).

Remember, this calculation provides a simplified view of the ROI on cybersecurity. It doesn’t consider some less tangible cybersecurity benefits, such as maintaining customer trust and protecting the company’s reputation.

Start Speaking Your Board’s Language

Knowing how to talk to your board is essential when it comes to cybersecurity investments. By using language that resonates with board members and presenting your ROI calculation simply yet effectively, you can ensure that your cybersecurity investments are given the attention they deserve.

Joseph Carson is a cybersecurity professional with more than 25 years’ experience in enterprise security and infrastructure. Currently, Carson is the Chief Security Scientist & Advisory CISO at Delinea. He is an active member of the cybersecurity community and a Certified Information Systems Security Professional (CISSP).

Navigating Selling: Everything Is An Iceberg

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October 21, 2023

by Karl Becker, author of the upcoming book “ICEBERG SELLING: Becoming a Better Salesperson by Looking Below the Surface”

Has your partner ever yelled at you about how you’re loading the dishwasher wrong? Did they seem a little more upset than they should be about something so basic? Chances are, there was something deeper than that going on, another reason they were frustrated with you. They just weren’t saying it.

Have you ever seen a little kid have a full-on meltdown because someone told them to put socks on? It probably wasn’t about the socks. It was probably because they were overtired, or didn’t want to go home, or a combination of the zillions of reasons kids cry.

And, more to the point of what we’re talking about here, have you ever had a great call with a new customer only to have them ghost you? Chances are there were things going on with them you didn’t know about, either. That’s because, even in sales, there is always more to a situation than meets the eye.

That leads me to the number one rule I want you to remember.

Everything is an iceberg.

Icebergs that float out in the oceans come in all different shapes and sizes. Some are pointed, some are round, some flare out, and other ones go straight down. Some of them are huge, and some of them, if you blink, you’ll miss. The one thing they have in common is that they are all 90 percent underwater.

And just because you have seen one iceberg doesn’t mean you are an expert on every single one. To navigate an iceberg safely, you need to explore it, or you might end up crashing into it and sinking (even if you think you’re the king of the world).

You know that your partner is annoyed with you, that the toddler is crying, and that a customer hasn’t gotten back to you, but that’s only 10 percent of what is actually going on in any given situation. Each one of those things are symptoms of something bigger. They’re only the actions you see on the surface. There’s always a lot more happening below that.

Keeping your partner happy with you is about more than doing the dishes their way. It’s about truly understanding who they are, what fills them up and what wears that down. It’s about seeing your partner in their entirety and meeting them there. If you want the toddler to stop crying, shouting at them to be quiet won’t do the trick. But taking a moment to understand why your two-year-old is raging might be a good next step. When you spend the time investigating and getting curious about the root cause, the path forward often becomes clear.

It’s no different with your customers. As a good salesperson, you know every customer is a little bit different. You don’t assume one person or company needs the same thing as another. That leads to misreading a situation, getting ghosted, and losing sales. If you want to find out what’s keeping a customer from responding to you, you need to understand what is really important to them. You need to be sure you showed them enough value and understanding in your last interactions and that you provided a clear and compelling path forward.

In the world of sales, one of the biggest and most frustrating risks is getting stuck in something I call the check-in zone. You’ve probably been there and know what I mean. It’s that place where you think you created value, and you think things went well in your interactions, but the customer stops responding to you and you feel you have been ghosted.

So now you find yourself in that dreaded place…that place where all you feel you can do is check in. You observe yourself leaving voicemails or text messages or writing emails with empty lines like…

“Hey, do you have any questions? I’m just checking in.”

“Just pinging you again to see if there’s anything I can do for you.”

“Do you need anything? Please reach back out if you’d like to talk further.”

“Hey, I haven’t heard from you in a while — are you breaking up with me?”

(Okay, that last one might not apply to your customers, but you get the picture.)

Getting stuck in the check-in zone feels horrible. Suddenly, we don’t feel like we have any traction or any path forward. We have no idea why things have stalled, and we start to send more and more desperate messages. What is happening is we start to make the sales about ourselves and what we need, but we disguise it in language about helping them or answering their questions.

After all my years working in sales, I can tell you that in the check-in zone, it’s super likely you’ve run into trouble because you looked only at the 10 percent of the customer’s iceberg that is above the surface.

If you don’t walk away with anything else, there’s one thing I want you to remember. To go from being a good salesperson to a great salesperson, you need to think about every person, every event, and every company you deal with as an iceberg. And to really keep out of trouble, you can’t wait to do so until you’ve already run into it.

When you are first getting an understanding of what a customer wants from you, you are just seeing what is on the surface. Learn to look deeper and you find more ways to connect. Then you start to build stronger relationships. Navigating an ocean full of icebergs involves preparing the right way and moving forward with confidence.

Now, that doesn’t mean icebergs are purposefully out to sink you, just like the people and situations you encounter every day aren’t there to trip you up. They are just there, going about their iceberg business, and it is up to you to decide what to do with them. Do you want to pass them by? Do you want to stop to explore them? Or do you want to pretend they aren’t there and risk wrecking everything?

No matter what you decide, you never know what’s going on with an iceberg from one look.

Lacking knowledge creates risk, whether you are steering a boat off the coast of Greenland or heading into a sales call.

With Iceberg Selling, you’ll be at lower risk, and you’ll be ghosted less and less. Your customers tell you they want to buy from you, and together you will chart next steps and get into mutual agreement on the path forward. As a bonus, the more you see everything as icebergs, the better you’ll connect with other human beings. That’s because when I say, “Everything is an iceberg,” I mean everything. Your family, your friends, your colleagues, your customers, your favorite barista — all of them have entire stories that you will only know if you seek to understand them.

*excerpted from the upcoming book “ICEBERG SELLING: Becoming a Better Salesperson by Looking Below the Surface” by Karl Becker

Karl Becker is a speaker and consultant who connects with your audience in a down-to-earth way and provides them with actionable value. Using his thirty years of experience as a salesperson, consultant, and coach, he inspires salespeople and shows them how to use their strengths to connect with their customers and achieve amazing sales results. He is author of the upcoming book “ICEBERG SELLING: Becoming a Better Salesperson by Looking Below the Surface”.

What Are The Benefits And Drawbacks Of A Shopify Website?

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October 20, 2023

Choosing the right platform to host your online store is crucial for every eCommerce business. Shopify has emerged as a powerhouse among e-commerce platforms, particularly for small businesses. As a Shopify agency London, we are a staunch advocate of what the platform can do for eCommerce businesses.

But every good thing comes with some bad. Whether or not you should invest in it all depends on what you are looking for. So, let’s talk about the pros and cons of a Shopify website and see if and how it can supercharge your online business.

Pros of Using Shopify

Ease of Use.

Shopify is renowned for its user-friendly interface. You don’t need to be a tech wizard to set up and manage your store.

A small business specialising in handmade accessories can launch its online store in a matter of days with Shopify. The intuitive platform allows you to manage inventory, add products, and process orders seamlessly. Even as a novice!

Beautiful Templates.

Shopify offers a wide range of professionally designed templates that can be customised to suit your brand. For instance, if you are a local bookstore, you can use Shopify’s template customisation to create an elegant and bookish feel for your online store – a design that is likely to instantly resonate with your target audience of avid readers.

Mobile Optimisation.

With a significant portion of eCommerce traffic coming from mobile devices, mobile optimisation is crucial. Shopify automatically optimises your store for mobile users.

So, if you are a fashion retailer, you stand a chance to see a significant increase in mobile sales after switching to Shopify. Simply because the platform’s responsive design ensures a seamless shopping experience for customers on smartphones.

Scalability.

Shopify grows with your business. Whether you are just starting or already established, Shopify can accommodate your needs.

Suppose you are small electronics retailer looking for rapid growth. Shopify’s scalability can allow you to expand your product range and handle increased traffic without hiccups while you are growing your business.

Simply put, your ambitions will never be restricted due to technological barriers.

Payment Options.

Shopify integrates with a wide array of payment gateways, giving your customers multiple payment options.

Businesses on Shopify typically integrate Shopify Payments, PayPal, and various credit card processing to offer flexibility in payment methods, which proves to be beneficial in getting higher conversion rates.

Security and Reliability.

Shopify invests heavily in security, ensuring your customers’ data is protected. You can actually build trust by prominently displaying Shopify’s security badges. This can reassure customers about the safety of your online transactions.

SEO-Friendly.

Shopify offers built-in SEO features that help your store rank higher in search engine results. As an eCommerce store, you are bound to use a lot of photos and visual aids to showcase what you sell. You can optimise product descriptions and meta tags using Shopify’s SEO tools. This can lead to increased organic traffic and higher visibility in search results.

App Integration.

Shopify’s app store provides countless integrations for additional functionality. Businesses can add review apps to their Shopify stores to offer higher social proof and boost their store’s credibility, which can ultimately impact their sales.

24/7 Customer Support.

Shopify provides round-the-clock customer support to assist with any issues. So, if faced with a technical problem, Shopify’s 24/7 support will quickly resolve your issues so that you experience minimal disruption during sales.

Multi-Channel Selling.

Shopify enables you to sell not only on your website but also on social media and other online marketplaces.

Using this feature, you can expand to Instagram and Facebook with Shopify’s multi-channel selling. This will allow you to tap into a broader audience and increase sales.

For small businesses aiming to thrive in the digital era, a Shopify website offers a plethora of advantages. From its user-friendly interface to mobile optimisation, scalability, and robust security features, Shopify empowers entrepreneurs to create successful online ventures. By embracing Shopify, small businesses can not only compete but also flourish in the highly competitive world of online retail.

Cons of Using Shopify

Shopify, undoubtedly a powerful eCommerce platform, comes with an array of benefits for small businesses. However, no platform is without its drawbacks. Here are some challenges and drawbacks that businesses may face when using Shopify.

Costs Can Add Up.

While Shopify offers various pricing plans, the costs can escalate as your business grows. Transaction fees, app subscriptions, and credit card processing fees can eat into your profits.

Limited Customisation.

While Shopify’s templates are visually appealing and customisable to some extent, they may not offer the level of uniqueness that some businesses desire. Achieving a truly distinctive look might require a higher level of coding and design expertise.

App Dependency.

To enhance your store’s functionality, you might need to rely on third-party apps. While many are free or offer free versions, some essential apps come at a monthly cost, increasing your overall expenses.

Limited Blogging Capabilities.

If content marketing and blogging are central to your strategy, Shopify’s built-in blogging features might not be as robust as those of dedicated content management systems like WordPress.

SEO Limitations.

While Shopify provides essential SEO tools, advanced customisation options are somewhat limited. This could impact your ability to implement highly specific or technical SEO strategies.

Transaction Fees.

Unless you use Shopify Payments for processing payments, you will incur additional transaction fees, which can be a financial burden for small businesses.

Data Portability.

Migrating away from Shopify can be challenging due to the platform’s proprietary structure. If your business outgrows Shopify or requires more customisation, this could become a limitation.

Platform Lock-In.

Once you have built your store on Shopify, moving to another platform can be complex and costly. This can potentially limit your flexibility in the long term.

Learning Curve.

Despite its user-friendly reputation, Shopify can still have a learning curve, especially if you are new to eCommerce. Understanding all the features and settings might take time.

Limited Multi-Language Support.

Shopify’s native multi-language support is somewhat basic. Expanding your store to cater to international customers with diverse language preferences might require additional apps or development work.

While Shopify is an excellent choice for many small businesses, it is essential to be aware of its drawbacks and limitations. The costs, customisation constraints, and reliance on third-party apps are some of the primary challenges small businesses might face. However, with careful planning, resource allocation, and a clear understanding of your business’s unique needs, these drawbacks can often be mitigated, allowing you to make the most of Shopify’s many advantages while addressing its limitations effectively.

The Art And Science Of Trends Forecasting, In Car Design And Beyond

Contributor

October 20, 2023

by Christian Delise

Over the past few years we’ve moved beyond the Information Age to the Information Age on Steroids. Data collection technologies and methodologies have grown prodigious and prolific, making it possible to drown yourself in any type of data you choose. You can plunge into a virtually bottomless pit of facts, figures, precise calculations and projections, with thousands or even millions of relevant data points to choose from, depending on the industry that employs you.

Presumably, this makes it easier than ever to forecast market trends and the evolution of consumer preferences. This should be especially true in car design, where more than one billion people own cars and at least that many will own them in the future. When you have this many current and potential consumers, plus dozens of major automobile brands across the world trying to please them, you should have no trouble finding interesting trends-related information to collect, cross-correlate and analyze.

Despite the exponential multiplication of available data points, however, trends forecasting still can’t be classified as pure science. It contains elements of science, but it is also undoubtedly an art form, one that relies on instinct and intuition in addition to the immense quantities of data. Human beings are complex creatures, and trying to forecast exactly how their changing preferences might best be satisfied will remain a tall task, for the most sophisticated AI systems and the most brilliant analysts alike.

How Trends Forecasting Can Help the Designer

Trends forecasting in car design is fraught with uncertainty. Yet there is still a certain predictability about it that makes it a worthwhile endeavor. This is because consumers are consistent in their desire for a safe, convenient and enjoyable driving experience, and innovations or changes that enhance these elements will be welcome while those that don’t will be rejected. They also have expectations about how cars should look, which is grounded in the concept of gradual evolution rather than sudden and radical change.

You can alter various features and package them as cleverly as you’d like. But if you’re efforts are swimming against the tide, you’ll be drowning in a river of red ink soon enough.

Cars captured my imagination as a child. Back then I was enthralled by the sleek and glossy images of the various Concept Cars (a.k.a Dream Cars) all the major car companies were releasing through consumer magazines like Car & Driver and Road & Track. So I eagerly poured through these publications, looking to learn more about the shape of things to come.

But here is a real irony. While being enraptured by these futuristic cars helped motivate my interest in becoming a car designer, once I’d actually become one I became more and more skeptical of the most imaginative concepts, which seemed pie in the sky and divorced from reality. I’ve learned that trends forecasting can act as a buffer against getting lost in fantasy, or in projecting your wishes and desires onto the public.

In car design, the most creatively brilliant inventions are usually iterations on a tried-and-true theme. This is why trends forecasting is so necessary because it allows you to assess the data that will show you where your creative lens should be focused.

To make trends forecasting a useful enterprise, you’ll have to observe larger trends and smaller ones, which the data will help illuminate. Some of the information you’ll analyze while developing your forecasting skills will be open to interpretation, and you’ll need to figure out what it all really means through your own powers of logical deduction. In a lot of cases the trends won’t be specific to your industry at all, but will instead reflect ongoing developments in the society, culture, or economy as a whole. The trick in these instances will be to make sensible connections between the car industry and the social and environmental context, to figure out how car designers should respond to any trends that might have an impact on consumer demands and expectations.

Trends Forecasting in Action: The Porsche Convey

For me, the utility of trends forecasting has been confirmed by some of my earliest work, from 2007 and 2008, when I developed a concept for a Porsche with all-terrain capability. I called my proposed rally car the Porsche Convey, and my choice of the rally car template wasn’t based on a whim. It was grounded in my observation of societal trends and their growing impact on consumer preferences, and my knowledge of how car designers would normally respond to such challenges.

In times of economic instability and cultural uncertainty, the mentality of the consumer will inevitably turn toward vehicle options that are more durable and versatile. Reliability and the ability to function in all road conditions will trump concerns over appearance, forcing designers to adapt. The rally car had a long and storied history in the automotive industry, and I saw the rally car model as the ideal template to help Porsche respond to a changing climate.

Eventually Porsche perceived the same trends that I did, and it was quite exciting to see them finally produce a rally version of their acclaimed 911 model. The fact that I lived the dream of working with Porsche in 2018 made it all the more satisfying to see them align with my vision. Porsche ultimately recognized the same trends I had, and responded to them with a magnificent innovation that verifies the usefulness of trends forecasting for car designers and manufacturers who want to respond to meaningful developments in the real world.

Trends Forecasting is a Fantastic Tool, but You Have to Figure Out How to Use It

Trends forecasting is a valuable tool, but in the end it will be up to you as a designer to decide how to use it. No matter how much data you collect, or how many changes you observe, and what you think their overall direction might be, you’ll have to trust your instincts once the actual design process commences.

There will be some signs pointing you in certain directions, and you should be confident in your capacity to interpret them correctly. But knowing you can’t actually predict the future, but can only perceive some of the likelihoods or range of possibilities will force you to make all the final choices. Which obviously leaves plenty of room for creativity, which should delight you.

Needless to say, none of this applies exclusively to car design. Whatever industry you work in, all of the research and analysis involved in trends forecasting will be extremely valuable to you as a creator. It will humble you and force you to color within the lines, respecting the parameters of innovation that your present and future customers are perpetually in the process of setting.

Christian Delise, a prominent figure in the automotive world, began his journey studying consumer psychology and later honed his skills in Industrial Transportation Design. Since 2010, he’s been involved in advanced design roles at major companies like Toyota, Volkswagen, Porsche and Lamborghini and others, while also founding two companies and earning seven patents. Christian’s latest venture, Delise Automotive, embodies his advocacy for Regenerative Product Modality (RPM), driving the automotive industry toward a circular future.

Redefining Freedom

Contributor

October 19, 2023

by Andrea Liebross, author of “She Thinks Big: The Entrepreneurial Woman’s Guide to Moving Past the Messy Middle and into the Extraordinary“

When you run your own business, you can create your own freedoms, and when you’re free, you can live up to your potential. When you work for somebody else, you’re not free to choose what you do, when you do it, and why you do it. Entrepreneurs often choose their path because they want what they consider freedom in four main categories: Time, money, relationships, and brain power — our four most valuable resources.

But these freedoms are more about how a person manages their mind than how they manage the resource itself. First, even the notion you have to be a business owner to have those freedoms isn’t true. You can have them at any time. When I work with clients, they usually say they are seeking those kinds of freedoms, but I find the freedoms they believe they crave at the beginning of doing this work aren’t the kinds they experience in the end.

To examine our thinking, we need to realize there are two sets of ideas going on: Having more of a resource(s) versus having freedom in relation to the resources. Let’s look in more depth at those concepts.

Freedom of Time

As a business owner and entrepreneur, you constantly juggle time constraints. You may have once fantasized about having freedom to do whatever you wanted with your time, but now, you may feel like that was an impossible dream.

However, that’s all in your thinking. You can manage people who demand your time, and you can choose how much free time you have and what you do with it. If you think you should be available all the time to clients, staff, and family, that’s not a problem with time but a problem with your thoughts about time.

Successful entrepreneurs manage time demands by managing their own minds. To manage your time, you have to free yourself from reacting to how you think you should be spending your time and start choosing where to spend your time. You choose your boundaries with time. Past You thought being available 24/7 created job security. Future You knows that’s not true; those people will still be there when you’re ready.

Freedom of Money

When I talk to my clients about money, most just tell me they want to make more. I ask, “How much more?” But they don’t know. They don’t even give themselves permission to establish a number. Setting a number is scary. What if they don’t achieve it?

But is the real goal with money having piles of it or just not having to worry about it? Olivant says most people would choose the second option.

When my clients run their businesses well, they make money. How much depends on how they set prices, profit margins, and a number of other things. All those things are up to them. Think of Arianna, who made all her decisions about money with a specific goal in mind. She knows her market and how to appeal to them, and she is achieving her monetary goals. If you have what others want, and you know how to market yourself and run your business — if you know your own worth in dollars and sense — you’ll make money.

Being free of worry about money is a whole different thing. It goes back to managing your mind. Anxiety over money doesn’t stop just because you reach a certain amount or restrict your spending. Believing you have enough funds to do what you want, right here and now, without money being an obstacle, is freedom.

Freedom of Relationship

Whom do you want to do business with? Who do you want on your team? You get to choose these people because you own your own business. Not only that, you get to choose how you want to think about and interact with those people. How to have a relationship is often far more important than whether to have it. We can learn and grow a great deal just by working through difficult situations with people.

By now, you know I am all about having the right people in the right seats. We think that “when we have the right people in place,” everything will be a lot easier. But as your capacity to Think Bigger expands, you’ll realize relationships with others are just a bunch of thoughts about how we interact with them and who we think they are. Those thoughts lead to feelings, which lead to actions, which lead to results. Sometimes you do need to let a team member go because they don’t have the skills you need. But sometimes, before jumping to letting them go, consider whether you can help them learn things while you also gain skills in coaching performance better. This benefits both you and the other person.

We can have freedom in a relationship right now. We get to choose how we want to think about the angry client or the disgruntled team member. This goes for personal relationships, too.

Exercising this freedom is important for your well-being. You want to spend more and more of your time surrounded just by people you click with, who you appreciate and who appreciate you, but realistically, you can’t manage your life to include only those people. Freedom comes from changing your expectations around others’ actions. Just as you love your kids though you don’t always approve of their behavior, you can appreciate difficult people for what they do and deal with the issues without losing your peace of mind. Obviously, this doesn’t mean tolerating abuse — but it does mean refusing to allow the behavior of another to control your own actions or thoughts. You get to choose how to respond emotionally and whether or not to be trapped in those emotions.

Even Positive Relationships Can Be Restricting

Women who inherit businesses often deal with the problem of trying to honor their family legacy while also finding their own way of doing things. Their loyalty to their parent(s) or the person from whom they inherited the business conflicts with the need to make their own decisions. This is an example of why managing thoughts around relationships is crucial.

Jenna became a young female CEO of her family-owned business and sat at the head of the table where men filled most of the other seats inside her organization and in the industry. Her father had created a successful and profitable business and had an established way of doing things. But Jenna needed more freedom in the business moving forward.

At first, Jenna worried about what the employees would think if she changed things. She hesitated to make too many waves in the male-dominated company and field. However, she soon realized that if she didn’t just stop worrying about what others thought, she would be trapped in a suffocating and deflating situation.

If you’ve inherited a business, or you’re in a situation where you fear letting go of “the old way of doing things” (even if you’re the one who created them!) because others are accustomed to it, give yourself permission to ruffle as many feathers as it takes to move forward into a fresh new vision and completely new territory. It will be exciting, maybe a little scary, but far more fulfilling and freeing than doing the same old thing just because that’s “how it’s always been done.”

Freedom of Brain Power

This is the ultimate freedom. No one gets to tell you what to think, what opinions to have, or how to feel. You get to think about what you want right now and direct your energy and brain power toward what you choose. And ultimately, you get to feel free right now — that feeling is only a choice away.

How you use your brain is your most important freedom because it shapes everything else. When you’re choosing how to think and feel about things instead of just reacting, you’ll be unstoppable.

*excerpted from “She Thinks Big: The Entrepreneurial Woman’s Guide to Moving Past the Messy Middle and into the Extraordinary“

Andrea Liebross, a certified business and life coach, empowers female entrepreneurs to adopt a CEO mindset, transcending drama and achieving business success. Author of “She Thinks Big: The Entrepreneurial Woman’s Guide to Moving Past the Messy Middle and into the Extraordinary“, Andrea excels in implementing strategies for sustainable success and shares her expertise as a dynamic speaker and podcast host.

Why Leaders Need Financial Literacy

Contributor

October 18, 2023

by Amol Maheshwari and Shweta Jhajharia, authors of “SCORE: The Fundamentals of Building a Financially Successful Business“

“Money without financial intelligence is money soon gone”
– Robert Kiyosaki

Do you know how to read a balance sheet, calculate your return on investment, or forecast your cash flow? If you are a leader in any organisation, these are some of the financial skills you need to succeed in today’s complex and competitive business environment. Financial literacy is the ability to understand and use financial information to make sound decisions, communicate effectively, and achieve strategic goals.

In this article, we explain why financial literacy is important for leaders, and how they can improve their financial knowledge and skills.

The Benefits of Financial Literacy for Leaders

Financial literacy can help leaders in many ways, such as:

Setting realistic and achievable goals.

By understanding the financial situation of their organization, leaders can plan ahead, allocate resources, and measure progress. They can also identify potential risks and opportunities and adjust their strategy accordingly. For example, a leader who understands the revenue and sales figures of their organisation can spot trends and patterns, and optimize their pricing, marketing, or inventory strategy.

Communicating effectively with stakeholders.

By understanding the financial reports of their organization, leaders can explain their performance, justify their decisions, and persuade their investors, customers, employees, and partners. They can also use financial data to support their arguments and proposals. For example, a leader who understands the gross profit margin of their organization can demonstrate their efficiency in production and sales and negotiate better terms with suppliers or clients.

Making informed and confident decisions.

By understanding the financial options of their organization, leaders can evaluate the costs and benefits of different alternatives and choose the best one for their organization. They can also avoid common financial mistakes, such as overspending, underinvesting, or mispricing. For example, a leader who understands the accounts receivable aging of their organization can manage their cash flow and enforce timely payment policies.

Enhancing their credibility and reputation.

By understanding their financial responsibilities, leaders can comply with the laws and regulations, and avoid legal or ethical issues. They can also demonstrate their competence and professionalism and earn the trust and respect of their stakeholders. For example, a leader who understands the debt-to-equity ratio of their organization can maintain a healthy balance between debt and equity and avoid financial distress or bankruptcy.

How to Improve Financial Literacy as a Leader

Financial literacy is not a fixed trait; it is a learnable skill that can be improved with education and practice. Here are some ways that leaders can enhance their financial literacy:

Read up on the basics of finance.

There are many resources available online or offline that can help leaders learn the fundamentals of finance, such as financial terminology, statements, concepts, and tools. One of them is our book “SCORE: The Fundamentals of Building a Financially Successful Business“, a practical and comprehensive guide that will help you master the key metrics that matter for your business.

Apply the knowledge to real-world scenarios.

Reading is not enough; leaders need to practice using their financial knowledge to solve problems and make decisions in realistic situations. They can use case studies, simulations, games, or exercises that challenge them to apply their financial skills and concepts.

Seek feedback and guidance from experts.

Learning from others who have more experience or expertise in finance can help leaders improve their financial literacy faster and more effectively. They can seek feedback from mentors, coaches, peers, or consultants who can offer them advice, insights, or tips on how to use financial information better. One of them is Growth Idea, UK’s leading SME business coaching company.

Conclusion

Financial literacy is not an optional skill for leaders; it is an essential skill that can help them succeed in any area of business. By understanding and using financial information wisely, leaders can set goals, communicate effectively, make decisions, and enhance their credibility. Therefore, I encourage all leaders to invest in improving their financial literacy skills as soon as possible.

Amol Maheshwari is the Managing Partner and M&A head at Growth Idea. Shweta Jhajharia is a leading global business coach and founder of Growth Idea. Their new book Score is the ultimate handbook to help SME business owners and senior leaders master the fundamentals of finance in order to propel them towards unprecedented success.

5 Benefits Of Understanding Your Rights As An Employee

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October 18, 2023

The job market is evolving, creating new laws on how employee rights will be upheld. As a result of these rules, employees are protected from issues at work such unjust termination and accidents at the job. However, one can only fight for their rights when they know them.

Learn more about the required work environment and treatment of workers by employers, as all this raises your job satisfaction. This blog expounds on why every employee should understand their rights.

Job Security

Many employees worry about their job security as the job market becomes competitive. Employers typically have the authority to fire you, but they must follow the proper procedures while doing so. The employment laws in different nations are clear on which parameters dictate a wrongful and fair termination.

You can firmly stand against any unfair layoff with knowledge of the law. For instance, a company may fire you since you filed a case against them. This could be after a harassment incident that you never entertained. When this happens, you can file a workplace retaliation lawsuit against the employer. This will compensate you for the harsh actions taken against you after exercising your rights. However, you need to work with the best attorneys for the case to be fruitful.

Empowerment and Self-Advocacy

When you’re aware of the legal protections and entitlements, it brings a feeling of motivation and assertion. You become better prepared whenever something happens in your workplace. At the same time, it discourages anyone from trying to take advantage of you. This self-advocacy and empowerment opens your eyes to asking for fair treatment.

It will be easy to echo your concerns without fear if there are poor conditions, such as limited spaces and inadequate supplies. On the other hand, when negotiating salaries, it can feel terrible to ask for a high amount, even when you have a high skill level. With a self-advocacy mindset, showing the employer why you deserve the raise will be easy.

Fair Compensation

The government sets clear rules and regulations on wages and salaries so that all workers get paid for their efforts. For instance, minimum wage laws state the remuneration range for every job level. If you work overtime, you also deserve the correct pay, so knowledge is vital.

The Fair Labor Standards Act (FLSA) outlines the numbers employers should work with depending on the nature of their operations. Knowing this will help you determine when to file for compensation as a worker. A good example is when you’re on paid leave but receive nothing.

Safe and Healthy Working Conditions

Every company has to create a safe environment for its workers. This is done by optimizing the different structures, such as floors, lighting fixtures, and electrical lines. Additionally, the teams should work with the correct safety gear if the place is hazardous.

Thus, raise the alarm whenever your employer overlooks health and occupational safety measures. You can request protective equipment and even make reports with the relevant authorities. This is the only way to be safe from injury-causing accidents while working.

Work-Life Balance

As much as you have significant professional responsibilities, you’re also entitled to time for your personal life. No company should deny you the right to family leave and flexible work hours. There should also be maternal and paternal leaves, as this is part of the employment laws.

For instance, the Family and Medical Leave Act (FMLA) grants American workers the freedom to take time from work for specified family or medical needs. Such arrangements are generally unpaid and should not risk your job security in any way.

Endnote

By comprehending your rights as a worker, you quickly know when the employer oppresses you. This brings personal empowerment and protection, hence bringing more job contentment. Keep discovering the new laws and regulations for the workspaces and engage lawyers when there is an issue.

How Often Should You Clean Your Office Space?

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October 18, 2023

There’s a lot that goes into ensuring your office or workplace is a happy, healthy, and productive environment. While you can easily focus on teamwork, morale, and other aspects, you should consider everyday issues, such as hygiene.

The importance of ensuring your workplace is tidy can’t be ignored. A clean office space promotes productivity, reduces absenteeism, and boosts concentration.

However, how often should you clean your office space?

Regular Cleaning vs. Deep Cleaning

Unfortunately, there is no set number of times or duration for cleaning your office space. Different offices have varying cleaning requirements. However, you should follow the standard regulations that guide regular and deep office cleaning.

Regular office cleaning is the frequent cleaning tasks done by staff members daily, weekly, or monthly. Regular cleaning includes simple tasks, such as wiping tables, clearing garbage, dusting surfaces, and light vacuuming. These simple tasks aim at ensuring the workplace is tidy and appealing.

As for the frequency of regular cleaning, it primarily depends on the specific task. For instance, garbage should be disposed of at least once weekly or sooner if the bin is full. On the other hand, you should wipe your office desks weekly.

That said, deep cleaning refers to intensive cleaning practices that often require help from office cleaning professionals with the right equipment. Common deep cleaning services include floor cleaning, changing air filters, cleaning upholstery, and rug care. Deep office cleaning improves the health and safety of your employees.

Without deep cleaning, mold, germs, and bacteria can slowly infest your office, causing illnesses. However, since it is more thorough than regular cleaning, it shouldn’t be done frequently. Workspaces should be deep cleaned at least twice yearly.

How Often Should You Schedule Commercial Cleaning Services?

As mentioned, you should schedule deep cleaning services at least twice annually. However, several factors influence the frequency of deep cleaning your office space. For instance, rarely occupied office spaces don’t need regular cleaning like office spaces with heavy foot traffic. Other questions to ask yourself when determining the cleaning frequency include:

Do You Share the Office Building with Other Businesses?

Shared offices mean more employees and foot traffic coming into your office building. As such, regular cleaning should be done weekly, if not daily. However, this depends on the type of business you share the office space with. For instance, you’ll need to clean your office space frequently if you are sharing the building with a doctor’s office.

The Number of Employees.

The number of workers in the building also influences cleaning frequency. Offices with hundreds of employees should schedule commercial cleaning services frequently. The higher the number of employees, the dirtier the office becomes. You should schedule deep cleaning at least once monthly.

Type of Business.

You should schedule regular deep cleaning if you are running a restaurant or any business that requires high-level hygiene. Industrial businesses with few employees and visitors don’t need daily cleaning.

Endnote

The importance of office cleanliness goes beyond meeting sanitation standards. Cleanliness in office spaces affects employee performance and productivity. Apart from regular and deep cleaning, you should also practice maintenance cleaning. This essentially involves cleaning glass mirrors and windows, dusting walls, and wiping down appliances.

[Photo by Towfiqu barbhuiya on Unsplash]

Elevating Customer Relationships: The Strategic Power Of Storytelling In Business

Contributor

October 18, 2023

by Evelien Kong, executive producer of the podcast Reppin

In my history as a TV producer and podcast host, I’ve come to recognize that storytelling isn’t just for the screen — it’s an invaluable tool for businesses seeking to forge deeper and more authentic connections with their customers. It’s the key to not only engaging an audience, but to building enduring relationships that drive authentic growth.

Fostering Brand Loyalty Through Narrative

Every successful business is built on a foundation of trust and loyalty. If you don’t have that, you’re already failing. But you can strengthen this trust and loyalty using creative avenues. Through strategic storytelling, you can showcase the values, mission, and essence of your brand in a way that resonates with your audience. Customers aren’t just purchasing a product or service; they’re investing in a narrative that aligns with their own beliefs and aspirations. They’re investing in you. It’s your job to bring that story to your supporters for continued success.

Leveraging Authenticity for Competitive Advantage

In 2023, authenticity is paramount. Spotting a brand that is performative has gotten easier as consumers are flooded daily with content ranging from fake to inspiring. Consider that you’re dealing with millions of experts on discerning authentic content. Storytelling, when done in a way that is in line with brand values, allows businesses to peel back the curtain and reveal the human side of their operations. When customers witness the genuine faces and stories behind a brand, trust, and essentially the relationship, is solidified. This authenticity sets you apart in a crowded marketplace, offering a competitive edge rooted in transparency.

Triggering Action through Emotional Engagement

The decision to buy from a brand, ultimately, is driven by emotion. And effective storytelling has the power to evoke emotions that inspire action. Whether it’s sparking excitement, instilling confidence, or tugging at heartstrings, these emotional connections are what drive people to go from an observer to a brand loyalist. Consider a recent purchase you absolutely love. Consider the branding that pulled you in. The likelihood is that your favorite purchase makes you feel a certain way because of the story that comes with it.

From a business perspective, investing in strategic storytelling is a deliberate move toward cultivating a more committed customer base. When customers feel a deep-rooted connection to your brand, they’re more likely to remain loyal and spread the word. They feel better about the product their investing in because of the way it makes them feel. This makes strong storytelling a mutually beneficial relationship if done right.

Storytelling is an indispensable asset for your business. Story is the brand, the flavor, the color, the feel, of what you’re selling. As I’ve grown my business and built a podcast community, it’s the storytelling that creates the relationships with my audience and consumers. That’s where the real, long-term value lies. Without it, everything would get lost in the rest of the market. So as you build your brand, remember that it’s not just about what we sell, but the stories we tell. It’s through these narratives that we build not only brands, but communities of loyal supporters.

Evelien Kong is a veteran TV producer and director, the creator, host, and executive producer of the podcast, Reppin, and the owner of Suburban Outlaw Productions. She has an extensive background that includes producing award-winning documentaries for MTV, crafting digital content for Law and Order SVU, sharing her expertise on storytelling with creators and business owners, and working alongside a roster of A-list celebrities.

Scheduling Flexibility: A Major Perk Of Mobile Auto Repair

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October 18, 2023

In the ever-evolving landscape of automotive services, one trend is rapidly gaining momentum – mobile auto repair. This isn’t just about fixing cars. It’s a revolution in how we view, use, and maintain our vehicles.

Just as food trucks brought gourmet meals to our doorsteps and mobile salons made pampering a more personalized affair, mobile auto mechanics are redefining the realm of vehicle maintenance. The days of long waits and inconvenient scheduling at traditional repair shops are fading into the rearview mirror, making way for a new era of car servicing.

The Hassle of Traditional Auto Repair Scheduling

Fixed Operating Hours.

Traditional auto repair shops operate on a fixed schedule, usually from nine to five, which often clashes with our own busy schedules. This rigidity means either taking time off work or juggling responsibilities to fit into the narrow window of operating hours. We’ve all been there, rushing to drop off the car before work, or having to wait in the lounge because we missed our appointment. Car mechanics that come to you break this mold, offering flexibility that traditional garages can’t match.

Unexpected Delays.

Even with an appointment, there’s no guarantee your car will be serviced right away. The mechanic might find an unexpected issue with a previous job, or a spare part delivery might be delayed. This can lead to prolonged wait times, messing up your entire day. In contrast, car mechanic home service typically dedicates its focus to one vehicle at a time, drastically reducing the potential for unforeseen delays.

Overbooking Issues.

Overbooking is a common issue in traditional repair shops. A mechanic might schedule multiple appointments around the same time, hoping to maximize their workflow. However, if one job takes longer than expected, it creates a domino effect, leading to long wait times for other customers. Mobile mechanic auto repair, on the other hand, offers a dedicated service, ensuring that each client receives individual attention without the complications of overbooking.

Understanding Mobile Auto Repair

The idea behind mobile auto service is straightforward but revolutionary: bring the mechanic to the car, not the other way around. Instead of you driving to a garage, the garage, in the form of a fully-equipped van or truck, comes to you. This shift in the operational paradigm ensures that the service is centred around your convenience, not constrained by a stationary location. Whether you’re at home, work, or stranded by the roadside, a mobile car mechanic is just a call or click away, ready to offer the required assistance.

Ease of Scheduling.

Scheduling with a mobile car body repairs service is a breeze. Gone are the days of trying to fit a car repair into a lunch break or wrestling to find a nearby garage with available slots. Instead, the control is in your hands. You choose the time and place, and the mobile mechanic adapts to your timetable. This kind of flexibility is the essence of the mobile repair revolution, highlighting its customer-centric ethos.

Advantages of Flexible Scheduling

Anytime, Anywhere Service.

Imagine breaking down on a deserted highway late at night. In such a situation, a mobile auto mechanic becomes your saviour. The major advantage of mobile repair services is their capacity to serve you whenever and wherever you need them. Whether it’s a busy weekday morning or a quiet Sunday afternoon, you don’t need to adjust your schedule. They adjust theirs to fit yours.

Customizable Service Hours.

With traditional repair services, you’re bound by their operational hours. But with car repair home service, you’re offered the freedom to set your service hours. Need a late-night oil change? Or perhaps an early morning brake check before a road trip? No problem. The service moulds around your needs, offering an unmatched level of customization.

Weekend and Holiday Availability.

Holidays and weekends often become our default car service days due to work commitments on weekdays. However, many garages remain closed or have limited hours on these days. This is where auto mobile mechanic services shine. Their flexible approach frequently includes weekend and holiday availability, ensuring you’re never left stranded, no matter the day or occasion.

Impact on Time Management

Reduced Downtime.

One of the most significant benefits of car mechanic at home service is the considerable reduction in downtime. Traditional garages often require you to leave your vehicle for hours or even days, disrupting your routine. However, when the service is brought to your doorstep, you can simultaneously manage other tasks. Whether it’s working from your home office, spending quality time with family, or even catching up on your favourite show, your day remains largely uninterrupted.

Better Planning and Organization.

Having a car mechanic at home allows for enhanced planning. Knowing the exact time your vehicle will be attended to helps in streamlining other activities. No longer do you have to block out large chunks of your day, uncertain about when your car will be ready. The predictability provided by mobile services lets you allocate time efficiently, making for a more organized day.

Less Stress.

The beauty of mobile mechanic auto repair lies not just in its efficiency but also in its ability to reduce stress. There’s no battling traffic to get to a garage, no waiting in crowded lounges, and no uncertainty about when the work will be done. Everything is straightforward, predictable, and revolves around your convenience, ensuring a stress-free experience.

Case Scenarios Demonstrating Flexibility

Emergency Repairs.

Imagine you’re preparing for an important meeting, and you find a flat tire or a dead battery. In such emergencies, car mechanics that come to you are a blessing. Instead of scrambling to find a nearby garage and risking being late, a mobile mechanic can address the issue right in your driveway or office parking lot, ensuring minimal disruption to your day.

Routine Maintenance.

Routine maintenance, such as oil changes or tire rotations, is essential for a vehicle’s longevity. Often, these tasks are pushed to weekends due to time constraints. But with mobile car repair, they can be scheduled during a lunch break, early morning, or any other convenient time. Your daily activities can continue without a hitch while your car receives the care it needs.

Pre-Trip Inspections.

Going on a road trip? A thorough inspection is crucial to ensure safety and avoid unforeseen breakdowns. Instead of squeezing in a garage visit amidst packing and other preparations, a mobile auto mechanic can provide a comprehensive pre-trip checkup right in your driveway. It’s about ensuring safety and peace of mind without any additional hassle.

Comparing Mobile Auto Repair and Traditional Garages

Accessibility and Availability.

The hallmark of mobile auto repair is its inherent accessibility. Instead of being bound by geographical constraints, the service comes to your chosen location, be it home, office, or a remote area. Traditional garages, on the other hand, require you to navigate to a specific place, often leading to added travel time and inconvenience. With a mobile service, the world, or at least your immediate vicinity, becomes the workshop.

Efficiency and Timeliness.

Efficiency is a significant factor where car repair home service holds a clear edge. Traditional repair shops, with their influx of various vehicles and potential overbookings, can sometimes lead to longer wait times. Conversely, a mobile service, focused on serving one client at a time, offers dedicated attention ensuring the work is done in a timely manner without unnecessary delays.

Customer Satisfaction.

While both mobile and stationary services aim for customer satisfaction, the personalized touch offered by a mobile car mechanic often results in a more gratifying experience. The direct interaction with the mechanic, the transparency in operations, and the tailored service all converge to enhance customer satisfaction, making it a preferred choice for many.

Integration of Technology

Booking and Scheduling Apps.

The rise of mobile auto service has been bolstered by the integration of technology. Booking and scheduling have never been easier. With user-friendly apps and online platforms, customers can pick a time slot, describe the issue, and even choose their preferred mechanic. This seamless digital experience adds another layer of convenience, marrying the traditional mechanics trade with modern tech solutions.

Real-Time Tracking and Updates.

Just as you track a food delivery, many mobile auto repair services now offer real-time tracking of your auto mobile mechanic. This feature ensures you’re not left wondering about their arrival time. Along with tracking, instant updates regarding repair progress, estimated completion times, and any unforeseen issues are communicated, keeping you in the loop at all times.

Digital Documentation.

Mobile car body repairs have also adopted digital documentation, eliminating the need for paper-filled glove compartments. Service histories, repair invoices, and maintenance reminders are all stored digitally. Not only is this an eco-friendly move, but it also ensures that all records are easily accessible and organized, simplifying future references.

Encouraging the Shift to Mobile Auto Repair

Educating the Public.

The transition to car mechanic home service hinges largely on public awareness. While many have experienced the convenience of mobile repairs, a significant portion of the populace remains unaware. Actively educating potential customers about the benefits, safety protocols, and efficiencies of mobile services is crucial. Workshops, online campaigns, and customer testimonials can play pivotal roles in dispelling myths and highlighting the advantages of mobile mechanics over traditional methods.

Addressing Concerns.

It’s natural for some to be apprehensive about a new service model. Concerns ranging from the quality of repairs to the security of having a mobile auto mechanic work outside a conventional garage setting may arise. By providing clear, transparent communication, offering service guarantees, and highlighting professional qualifications, these concerns can be effectively addressed, fostering trust in the mobile repair model.

Promoting Benefits.

To encourage a more significant shift towards car mechanic at home, the emphasis must be on promoting its inherent benefits. Marketing campaigns highlighting convenience, time-saving aspects, personalized service, and the integration of technology can paint a compelling picture. When potential customers can clearly see the advantages, they are more likely to make the switch.

Looking to the Future

Evolving Customer Expectations.

As with all service industries, the expectations of auto repair customers will continue to evolve. The growing preference for mobile mechanic auto repair reflects a broader societal shift towards valuing time and convenience. Service providers will need to stay attuned to these changing demands, continually innovating and adapting to keep their clientele satisfied and engaged.

Industry Adaptation.

The automotive repair industry, historically known for its reliance on traditional methods, is at an inflection point. As the demand for mobile car repair grows, there will be a parallel need for training, equipment upgrades, and operational changes. Embracing these changes, rather than resisting them, will be key for businesses aiming to remain relevant and competitive.

Potential Innovations.

The future of mobile auto service is rife with possibilities. From augmented reality-assisted repairs to the integration of artificial intelligence for diagnostics, the next wave of innovations is on the horizon. Collaborations with tech companies, continuous training, and customer feedback will drive these advancements, ensuring that the mobile repair industry remains at the forefront of both automotive and technological progress.

The automotive repair landscape is undergoing a transformative phase, fueled by the myriad advantages of mobile car body repairs and the integration of modern technology. As we’ve journeyed through the multiple facets of this innovative service, it’s clear that the traditional boundaries of automotive care are being redrawn. The convenience, efficiency, and customer-centric approach of mobile services have set a new gold standard.

Moreover, as technology continues to shape our world, its synergy with mobile auto service is poised to offer even more groundbreaking solutions. Whether it’s instantaneous diagnostics, virtual consultations, or even the potential of drone-assisted repair tools, the horizon is rich with possibilities.

However, the essence of this shift transcends technology and convenience. At its core, it’s about reshaping the customer experience, placing their needs, and preferences at the very center. It’s a testament to how industries can evolve when they align with the changing rhythms of their clientele.

Embracing mobile auto repair isn’t just about keeping up with the times; it’s about heralding a future where service meets convenience at every turn, ensuring that car maintenance becomes an integrated, stress-free aspect of our daily lives. As we steer into this exciting future, one thing remains certain: the road ahead is paved with innovation and unmatched convenience.

How To Improve Your Business’s Payroll Process

admin

October 17, 2023

When you’re running a business, there are many things you need to look out for: retaining employees, keeping customers happy, increasing profits, and more. Another crucial thing you must consider is payroll processing; paying your employees and maintaining financial documents for your business. If you outsource, Payroll service costs can begin from $39 per month, but the price can increase based on the company size and the support you want.

You must manage your payroll correctly because it is your legal requirement; otherwise, you must pay fines or penalties. It helps retain employees by paying them accurately and on time, which helps boost their performance. Let’s thoroughly examine payroll processing and how you can improve it.

What Is Payroll Processing?

Payroll processing entails dispatching all employee salaries in a timely and efficient manner. You have to properly track, calculate, and distribute their payments while determining the right amount of money to withhold for taxes or the company benefits. HR and Finance departments typically handle payroll processing, but you can outsource or use a software platform to automate the process.

In the process, you determine tax codes and the company’s EIN or employer’s identification number given by the government to track payroll taxes. You can set your EIN on the IRS website. Gather your employee’s tax information; full-time employees may fill out form I-9 and establish a payroll schedule to determine payment schedule: it can be weekly, biweekly, or monthly.

Next, select how you will pay your employees, whether it’s through direct deposit, paper check, or payroll card. Develop a payroll policy that considers employees who are or aren’t eligible for overtime, time off, mandatory and voluntary payroll deductions, and more. Keeping that in mind, you can calculate each employee’s gross pay (total pay before deductions or taxes), then calculate employee deductions referencing their tax information and state requirements for tax withholdings. Other employee deductions include 401(k) investments or social security. Finally, calculate employee net pay.

How to Improve Payroll Processing

Now that we know the basics of payroll processing let us look at a few ways you can improve the process and make it more efficient.

1. Use Time Clock Software.

Regardless of your company size, You can use time clock software solutions to keep track of your employee’s attendance and work time, which aids payroll processing. As it is automated, it can reduce human errors that occur when manually putting in information, making payroll processing more accurate. Such applications help you keep track of overtime, sick time, paid time off, and more.

It’s also an unfortunate fact that not every employee is honest with their work. Almost 43% of all employees commit time theft, such as through buddy punching (their colleagues clock in or out for them when they aren’t on the job, and a time clock can hold them accountable.

To choose the right time clock software, look at the features available, such as time tracking, data analysis, billing and invoicing, and more. They should offer extensive or customizable reports to help you understand the data, and they should be able to manage how you pay your employees over time, if it can handle accruals and employee time offs. Finally, consider your budget, value for money, and if the software is easy to use.

2. Clearer Payroll Policies.

Payroll errors happen when your employees don’t understand the payroll policies or system because of limited access or lack of training. It should include:

How your payroll process works
Employee information
How salaries are set and calculated
How you calculate Promotions, benefits, and deductions.
Employee reporting requirements
How will you comply with applicable laws and regulations
Payment structure

Put it in writing and disseminate it to all your employees, and encourage them to ask questions if they’re confused so no future problems arise.

Endnote

Payroll processing is a vital part of your business, whether it’s small scale or large, you should ensure that you are carrying out the method accurately and efficiently. You can create clear and comprehensive payroll policies and invest in time clock software to improve the process.

The Issue Of Rising Pay For Attorneys And What May Be Driving The Salary Increases

Contributor

October 13, 2023

by Michelle Foster, Founder and Drew Foster, Managing Director — The Foster Group

Changes in associate compensation tend to be cyclical. Every few years, a handful of leading law firms increase the compensation scale. This signals Am Law firms, elite boutiques, and others that it is time to assess their own scales and consider the value of following suit.

After a relatively quiet three years in terms of associate compensation, the cycle has revved up again. This time, however, new developments in the legal field and beyond have resulted in new compensation trends. The ongoing changes, which started in 2021, have been more rapid and far reaching than those in previous cycles. Firms that want to stay competitive in this season should take note of what the leading firms are doing to attract top talent.

The key difference in this compensation cycle

A key difference with this cycle of compensation increase is the rapid succession with which it occurred. During the past two years, leading firms have introduced multiple increases to the scale. Special pay bonuses have also been more prevalent during that time period. As a result, salaries have increased by approximately 22 percent for the most senior associates in less than two years.

Another key difference is related to where these higher-than-normal increases are taking place. Typically, they are centered on major markets. In this case, however, numerous national law firms are paying top dollar for talent in regional markets. This is unique to this cycle and likely related to the increase in remote working arrangements driven by the COVID-19 pandemic.

The key factors driving the increase

At the top of the list of factors driving the present increase in associate compensation is a fierce competition for talent, which experts have come to describe as a pay war. There are currently incredibly high levels of competition amongst firms seeking to recruit and retain attorneys across multiple practice areas. Historically, the legal market experiences specific practice area demand that ebbs and flows as it relates to the broader economy. This market has seen sustained demand across multiple practice areas and attorney levels.

One example of an area where the pay war has had an impact is Mergers and Acquisitions and Private Equity markets. These are red-hot areas, with tremendous demand and competition for corporate attorneys, particularly more senior associates. Countless attorneys in this practice area have recently moved their careers forward in meaningful ways, whether it was elevation to Partnership or the ability to nearly double their compensation package.

Another factor that comes into play in the compensation picture is an increase in workload and responsibility. The pandemic brought with it a whole new set of legal questions and scenarios, some of which involved a high level of complexity. The need for legal guidance was felt from small businesses to the largest multinational conglomerates. When combined with demands prompted by a strong economy and booming deal market, these factors resulted in many firms experiencing a sustained rise in demand for their services.

This surge in demand resulted in many attorneys working tremendously hard without significant breaks, and exceeding their billable requirements. While the legal profession has historically been one in which attorneys expect to work long hours, the recent increase left many attorneys feeling that greater compensation is not only welcome, but appropriate.

One factor that should not be viewed as playing a significant role in the increase is the cost of living brought on by ongoing inflation in the US. The lockstep model utilized by many firms means increases are structured, well-defined, and connected to internal — rather than external — developments. Because lawyers tend to be familiar with a structured compensation model, cost of living increases are generally not expected nor granted.

The keys to effectively recruiting in this market

As more firms choose to keep pace with the increases, a variety of other factors become important for those who hope to win top talent. Firms that will excel at recruiting are those who will focus on understanding and acknowledging the professional and personal goals of the candidate, and effectively describing how joining the firm will help the attorney to achieve those goals.

Areas of interest that firms can highlight include:

Flexibility in terms of work from home policies.
Paths to equity partnerships.
Access to mentorship.
Flexible billing rates and alternative fee arrangements, both of which can make it easier for partners to build and grow their practice and maintain a satisfied client base.
Robust support for marketing and business development.

An effective recruitment process is also important in today’s competitive market. Firms that excel in this area have an efficient process that is handled by an effective recruiting department, who are diligent in selecting interviewers who are strong ambassadors of the firm. They paint a picture of an inviting culture and the value proposition their firm provides to incoming laterals.

Overall, the firms that end up with the most talented recruits — whether they are attorneys just starting their careers or those making lateral moves — will be those who can effectively communicate that the attorney’s skills and unique talents will be valued. Competitive compensation speaks loudly in that area, but it is not the only factor. Valuing the full range of career concerns will help firms to position themselves as the best option in this highly competitive market.

Michelle Foster is the founder of The Foster Group, a former litigation partner, and veteran legal recruiter with 20 years of experience. Drew Foster is the Managing Director at The Foster Group, a Senior Legal Recruiter specializing in the placement of Partners and Associate level attorneys.

AI Stats And Trends For Small Business Marketing

Contributor

October 11, 2023

by Dave Charest, Director of Small Business Success at Constant Contact

Small businesses (SMBs) are a busy bunch. On any given day, they might be fulfilling orders, engaging with customers in-person, managing staff, doing their books — plus dozens of other tasks. Most would relish an opportunity to gain back an extra hour, or save some extra money.

Luckily, those goals (and others) are attainable thanks to artificial intelligence (AI) and marketing automation. These technologies can help small businesses work more efficiently, drive more sales, and improve the ways they are marketing themselves – without making it more of a headache or a time suck.

We recently published a report at Constant Contact called, Small Business Now: An AI Awakening, that outlines how SMBs are thinking about AI and automation, and some of the results that early adopters are seeing. With insights from nearly 500 small businesses across the U.S., the study reveals how these technologies can enhance marketing effectiveness and help SMBs save time and money.

If you’re curious about how AI can impact your business, here are the 10 stats about AI that you should know.

Challenge Accepted: 60% of SMBs say their biggest challenge is attracting new customers, while 39% say it’s marketing to their target audience.
Peaked Interest: 74% are interested in using AI or automation in their business, and 55% reported that their interest in using these technologies grew in the first half of 2023.
Off to the Races: 26% are already using AI or automation, and the top use cases are social media (52%), generative content creation (44%) and email marketing (41%).
Proven Success: 91% of the small businesses polled say AI has helped make their businesses more successful.
Reaping the Benefits: 60% of small businesses that currently use AI or automation in their marketing say they have saved time and are working more efficiently.
First step, Social Media: SMBs say the easiest places to start leveraging AI technology are social media, content creation, and analytics.
Financial Gains: 28% of SMBs expect AI and/or automation to save them at least $5,000 in the next year.
Increasing Efficiency: 33% of small businesses estimate they have saved more than 40 minutes per week on marketing by using AI or automation.
Top Concern: 44% of small businesses noted data security as their top hesitation about using AI.
Value Recognition: The more SMBs use AI, the more they value it. 70% of SMBs would be willing to pay more to access AI and automation.

So, what do all these stats mean? I’m glad you asked.

AI is here to stay. The small businesses who are currently using tools powered by AI overwhelmingly agree that it is making their businesses more successful. They are working more efficiently, saving money, improving customer experiences, and growing quicker.

So, if you’re an SMB who is either starved for more time in your week, or you want to improve the way you engage with your customers without adding extra marketing work to your plate, don’t write off AI as a passing trend. Give it a try and you might be surprised about the results you see.

Dave Charest is the Director of Small Business Success at Constant Contact. In his role, Dave acts as an educator and an advocate for small business leaders, marketing professionals, and nonprofits by providing them with practical marketing advice that can help them achieve their goals.