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Not Your Keys Not Your Coins: How To Protect Your Digital Assets

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by Alex McCurry, founder and owner of Solidity.io

Over the years, the message of “Not your keys, not your coins” has been prevalent throughout the crypto community. However, in the wake of a multitude of recent high-profile centralized exchanges (CEX) and Crypto Banking collapses, insolvencies, and acquisitions, that phrase is emerging with a newfound vigor in the crypto community.

To understand the importance of this phrase, we first have to dissect what it means. Not your keys, not your coins refer to the importance of digital asset investors having control and sovereignty over the private keys to their crypto wallet(s). Your private key is essentially like your ‘seed phrase’; a random string of characters is the single point of access to your wallet. As a user, to send funds, sign messages, or recover access to your wallet, you must utilize your private key in one way or another. With non-custodial wallets like Metamask, Coinbase Wallet, and Trust Wallet, or hardware wallet providers such as Ledger, or Trezor, you are the only individual able to access your private keys upon the creation of your account.

These features are not the case with custodial wallets. Instead, custodial wallets are services where a centralized entity, such as an exchange, acts as the custodian for one or more sets of private keys on your behalf. Essentially, these entities operate similarly to banks, where they offer to manage your private keys securely. As a user, you make a deposit, and the exchange or entity keeps track of your balance(s) on an internal ledger. The risks in this are pretty obvious; unlike banks, crypto exchanges are often subject to far less regulation as it relates to the amount of collateral they need to keep, deposit minimums, audits, and what they do with the capital once it has been deposited.

Additionally, many of these exchanges/entities, such as Luna or Celsius, have used the practice of offering outlandish interest rates on the deposits they receive to entice deposits out of customers. As we have seen, this has not panned out very well for many of these major centralized providers, with an estimated over $40 billion in investor money lost between just those two examples. And there are many more similar stories.

On top of that, the major players that have managed to operate without having issues, such as Coinbase, Binance, and Crypto.com, carry similar risks. Although these entities are far more regulated than the two horror stories I’ve mentioned, they still operate under a custodial system. The glaring issue here is that these entities are not federally insured by the FDIC the way traditional banks are. This means that should any of these entities go insolvent, all of the uninsured creditors (meaning you) could potentially lose all of the money you have deposited.

Well, how does one protect themselves from these risks? The answer is to set up a secure, non-custodial wallet for your assets.

With a non-custodial wallet, you can securely manage the ownership of your private keys, reducing any potential counterparty risks. The single point of failure is you, the user. While this may be a bit scary and feel like a lot of pressure for many users, there are protections you can take to securely store and manage your private keys to mitigate risk as much as possible.

Recommendations we make for some products you can use to reduce risk include Ledger, Trezor, and Gnosis Safe. If you are interested in learning more about in-depth wallet security and best practices, feel free to check out one of our other articles on wallet security best practices and everything you need to know to keep your assets as safe as possible.

 

Alex McCurry

Alex McCurry is an American business executive, blockchain expert, investor, and the founder and owner of Solidity.io. He is considered a prolific blockchain and software product expert by several media houses. Alex has a background in software product design, digital strategy, private equity, and venture capital.

 

6 Ways To Reduce Slip and Fall Accidents In The Workplace

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by Atty. Michele Mirman

Slips and falls are one of the leading causes of injury in the workplace. They can happen anywhere, but they’re particularly common in kitchens and bathrooms.

If you own a business, it’s important to understand how to reduce these accidents. By effectively taking steps like checking for spills and slippery areas regularly and removing snow from your property during cold winter months.

Slips and Falls in the Workplace

Injuries caused by slips and falls are common in the workplace. It’s estimated that slips, trips and falls cause $200 billion in direct medical costs each year. Slips, trips and falls can also lead to severe injuries that are much more difficult to recover from than other types of accidents. If you or someone you know has been hurt by a slip and fall accident in the Bronx area, get the help of a slip and fall lawyer bronx.

Slips and falls often occur when workers are carrying out their duties on slippery or wet surfaces, and this can lead to serious injuries and even death. There are many ways that employers can reduce these accidents, but it is also important for them to understand how they can be prevented altogether.

Here are some tips on how you can prevent these type of accidents in you workplace:

1. Clear the path of obstacles,

Make sure surfaces are free of hazards like loose objects and slippery materials. Check floors regularly for broken glass or other hazards that could cause an accident, such as holes and cracks in the flooring that could allow water to seep through.

  • Keep walkways clear of obstacles.
  • Keep walkways free of clutter.
  • Make sure the paths are well-lit, especially at night or in low-light conditions.
  • Remove any trip hazards with a non-slip mat under your feet to reduce slips and falls accidents in the workplace.

2. Repair carpeting immediately,

Carpeting is a common cause of falls. It’s important to repair carpeting immediately if it is worn or torn. Use mats to cover areas of concern and keep the area clean and dry by regularly vacuuming or sweeping the floor.

Use area rugs to cover areas of concern.

These include:

  • Areas that are not easily cleaned
  • Areas where the floor is slippery or uneven (eg; a wet floor)
  • Areas where there’s a lot of traffic

3. Keep floors dry and clean.

To prevent slips and falls, make sure to check for spills and slippery areas regularly.

Check during morning and evening hours, as well as at different times of the day throughout the year (e.g., spring, summer, fall). Make sure to check all surfaces, including floors and stairs; also look out for spills on walkways that could make someone trip over them. In addition to checking hard surfaces such as floors or stairs regularly in order to prevent slip-and-falls accidents involving employees walking around with their shoes on their feet at work centers where there are no warning signs posted about dangerous conditions like oil or grease dripping on the ground below them (which could cause an accident if they stepped into it), you should also be aware of any other areas within your facility where people might trip due to wetness or ice buildup from snow melting off cars parked nearby outside before they arrive at work each day so that you can address these issues before anything happens again!

Here are some points to remember:

  • Keep floors dry and clean.
  • Use a squeegee or mop to remove water from floors, carpets and other areas that are dampened by spills.
  • Take care to remove all excess water from carpeting before it can cause mold or mildew growth on your floorboards.
  • If you have any crawl spaces in your building, use fans with high ceilings that can suck the air out of those spaces as well as pull hot air out of them (and thus lower the temperature).
  • In damp areas such as bathrooms or kitchens, use dehumidifiers to remove excess moisture from these areas so they remain comfortable without causing mold problems later down the road!

4. Remove snow and ice immediately during cold winter months.

Winter is a time of year when injuries and slips and falls can be especially dangerous. Because of the cold, many people are prone to slip on snow and ice, which can cause serious injuries if not taken care of immediately.

If you notice that there’s an accumulation of snow or ice on your floor, remove it as soon as possible before someone slips on it or trips over it while walking across your workplace. Remember, the longer you leave things like this outside, the less safe they become!

caution wet floor sign

5. Post warning signs where necessary.

Warn about the dangers of slips and falls in multiple languages, if necessary. Post signs in areas where people may be distracted by other tasks and not observe them as they pass by, such as at entrances and exits to the building or store space.

6. Train work staff on slip and fall prevention.

Training is important.

Slip and fall accidents can be prevented, but only if you train your staff on the importance of safety and how to prevent falls. It’s also important that they are familiar with how to react if someone does fall, as well as how to respond if someone does fall. In addition, training should include reporting any incidents so that appropriate action can be taken immediately.

Workplace falls are one of the leading causes of injury in the workplace

Knowing how to reduce these accidents may help to prevent them from happening in your place of business.

Slip-and-fall accidents can cause serious damage to both workers and equipment, so it’s important that you take steps now before they happen! There are many ways you can prevent slip and fall accidents:

Conclusion

I hope these tips will help you to prevent workplace falls and injuries. You can use them as a starting point or adapt them to suit your needs, but they all share the common goal of reducing slips and falls within your facility.

 

Michele S. Mirman is the founding partner of Mirman, Markovits and Landau in addition to being an award-winning personal injury lawyer with over 43 years experience. She has won over $1 billion in awards and settlements for her numerous, long time clients. Michele is known as a tough negotiator and an excellent trial lawyer. She has served on judicial rating committees for different New York State organizations, earned Lifetime Achievement to America’s Top 100 Attorneys, is recognized as a high stakes litigator and enjoys an outstanding 10 ranking from Avvo.

 

What Every Startup Business Should Know About Workers’ Compensation Law

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by Atty. Brody Reid

The workers’ comp system is an important part of any business, especially if you’re one operating in Mechanicsville, Virginia.

Workers’ compensation insurance is required in every state. As a business owner, you need to understand how the workers’ compensation laws apply to your business and your employees

It can be difficult to navigate and understand, but there are a few things you should know about workers’ compensation so that you can start preparing if you encounter one in the future.

In this article, we will be unveiling important key points from our top workers’ compensation attorney Mechanicsville VA.

First things first, what is Workers’ Compensation?

Workers’ compensation is a type of insurance that protects an employee from injury on the job. It helps them make financial claims after they’re injured and injured workers can receive compensation for medical bills, lost wages and other expenses related to their injuries.

The purpose of workers’ compensation is to provide benefits for employees who are hurt on the job, including death benefits (if someone dies because of their injuries). This allows employers to avoid lawsuits from employees who are hurt at work so that everyone can continue working safely without fear of being sued over any personal injury issues affecting themselves or others around them.

How does Workers’ Compensation work?

Workers’ compensation is a form of insurance that pays for medical expenses, lost wages and other costs for employees who are injured on the job. It’s paid for by your employer, not you.

Workers’ compensation enables you to pass over the financial risk of a workplace accident to the insurance company – and focus on helping your employee heal.

Workers’ compensation insurance is designed for the sole purpose of protecting employers from liability for injuries sustained by their employees. Workers’ compensation insurance is typically included in the cost of health insurance plans offered by large employers, and it covers injuries sustained on the job or while commuting to or from work.

In most cases, workers’ compensation is required by law to cover all injuries that are not caused by the negligence of an employer. However, this doesn’t mean you’re required to pay out every claim that comes through your company’s doors. Instead, it means you can transfer the financial risk of a workplace accident to the insurance company – and focus on helping your employee heal.

The key ingredient to successful workers’ compensation claims: compassion and transparency.

Compassionate treatment and transparency are key ingredients in creating a positive experience when dealing with workers’ compensation claims. This may sound simple, but many employers don’t realize these essential pillars can help streamline claims processing, reduce costs and improve customer service.

Here are some ways you can make a difference:

  • Communicate clearly with injured employees
  • Be honest about what happened – even if it’s not your fault
  • Prevent future injuries by ensuring compliance with safety protocols

contract signing

Understanding your state’s policies in Mechanicsville, Virginia.

Your state’s workers’ compensation laws are different from one another. Each state has its own rules and regulations about how workers’ compensation claims are handled. Some states have even passed laws that limit what types of injuries qualify for compensation.

In Mechanicsville, Virginia, employers must meet certain requirements to ensure that they are providing workers’ compensation coverage for their employees. These requirements include:

  • Allowances for training and safety equipment. In addition, there must be an appropriate safety plan in place to protect workers against workplace hazards and bodily harm. This includes occupational safety standards as well as all applicable federal and state regulations pertaining to hazardous conditions at work sites.
  • Employment records for each employee hired by an employer in Mechanicsville, Virginia must be kept for at least two years after termination or retirement from employment with the company.
  • Work history and attendance logs. Workers’ compensation claims can only be filed if an employee was injured while performing their duties on the job.

Additionally, employers cannot fire or discipline workers who file a workers’ compensation claim after sustaining an injury while working at their job site.

What can I expect after filing a claim?

  • The claim process is complicated.
  • It can take a long time.
  • You will need to provide medical records, fill out paperwork and gather documents from other doctors and therapists who treated you before the accident occurred.

Working with a workers’ compensation attorney Mechanicsville VA

If you own a business, you should know about workers’ compensation law. The workers’ compensation insurance system was created with the purpose of compensating workers who are injured on the job. It is designed to ensure that they receive fair compensation and to protect employers from having to pay large sums of money out of their own pocket.

When an employee suffers an injury at work, it can be a serious problem for your business. Workers’ compensation claims can add up quickly, especially if they’re not handled correctly. That’s why it’s important to hire an experienced workers’ compensation attorney to handle your case.

If you have employees working for your company, you should know what they’re entitled to under the law.

What benefits do I have as an employer?

The first thing that comes to mind is health insurance coverage for my employees. But there are other benefits as well — like disability payments and life insurance coverage. These plans may help keep your employees healthy so they can return to work sooner rather than later.

How do I file a claim?

The first step in filing a claim is talking with your insurance company about injuries and medical expenses associated with work-related injuries or illnesses that have occurred on the job site or during training at work-related events (like field trips).

What if my claim was denied?

If you’ve been denied your workers’ compensation claim, the process for appealing can be long and complicated. You may have to wait for months before an administrative law judge decides whether or not to take up your case. The appeals process is also likely to be delayed if you don’t have an attorney on your side who has experience with this type of case.

If the appeal goes through, expect more delays as the company that denied your claim files its own defense against it in court—or even fails at this step: it may decide instead to settle with you out-of-court (this is known as a “proffer”). Even if they do decide to go through with their proffer offer, don’t expect any changes overnight; usually there are several years between when they file their defense and when they finally pay off injuries sustained while working for them (in some cases).

How can I get started on my workers’ compensation case?

  • Identify the best lawyer for your case.
  • Ask for referrals from friends and family.
  • Ask for referrals from co-workers.
  • Research lawyers online using sites like Avvo, com and Lawyersdirectory.org

After an accident on the job, you should seek out the services of a workers’ comp lawyer to help you through the difficult process.

If you get injured on the job, you may be entitled to compensation. The process of getting that compensation can be difficult and confusing, so it’s important to hire a lawyer who knows how to navigate the system.

A workers’ comp lawyer can help with:

  • The legal process of filing a claim
  • Understanding your options with respect to medical care or other treatment options that may be available after an accident at work (for example, if there has been an amputation due to an injury sustained at work)

Conclusion

If you are a business owner and need help navigating the workers’ compensation system, contact the experienced team at Reid Goodwin, P.C. We can help you understand your rights and how those rights apply in your case.

 

brody reid

Brody Reid is an experienced and zealous trial attorney. Focusing on assisting injured individuals and their families during tough times, Brody has worked tirelessly to help individuals in his hometown in the years since law school. Brody has successfully represented over a thousand clients in the areas of Workers’ Compensation, Personal Injury, and Civil Litigation through jury trials, bench trials, and administrative proceedings.

 

Top 5 Trusted Audio Transformers Supplier And How To Find One

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Have you heard about Audio Transformers? Maybe if you are setting up a home theater or working for a music company like a broadcasting station, you have seen one.

If you are in a situation where your old audio system isn’t doing its job properly or you are planning to build something new, then it is important that you have a list of top 5 audio transformer supplier. That way, you may be able to avoid any costly mistakes and identify the right providers in no time!

Audio Transformers

An audio transformer is a device that converts electrical power into sound. These transformers are used in many industries like broadcasting, telephone communication, and music. Thus, it is an essential device that converts electrical power into usable audio signals. It’s used in a wide range of applications, including recording studios and home theatres. Transformer manufacturers use many different types of materials to make their transformers. Some companies specialize in one type of material while others have a mix of materials that work best together for certain applications.

Top Audio Transformer Manufacturers

The global market for audio transformers is developing steadily, and even though it’s still in its infancy, the number of companies providing such products is increasing rapidly.

Here we have reviewed the top 5 audio transformers supplier in the world.

Pico Electronics, Inc.

Pico Electronics is the world’s leading manufacturer of audio transformers. The company was founded in 1967 by Mr. Joseph Sweeney and Mr. Henry Spoldi and since then it has manufactured thousands of units of audio transformers. Pico Electronics has been granted a number of patents for its technology, which makes it one of the most trusted brands in the industry today. The company has always strived to provide high-quality products at affordable prices to its customers.

Pico Electronics is known for its superior quality and competitive pricing. It offers a wide range of products including pulse transformers, audio transformers, microphone transformers, audio power amplifiers, speakers etc., all at affordable prices with no compromise on quality or performance.

Their products include high-power audio transformers, low-loss coaxial cables and connectors etc., which can be used in various applications such as broadcast studios, industrial automation etc., making them one of the most reliable sources out there!

TEL Magnetics

TEL Magnetics is a leading manufacturer and supplier of audio transformers. We have been in business for over 30 years, and we’re one of the largest manufacturers of audio transformers in the world. Our manufacturing facility covers an area of 2 acres with a total production capacity exceeding 2 billion units per year.

Our products are widely used by many large companies, including Sony, Samsung Electronics Co Ltd., LG Electronics Inc., Sharp Corporation, Panasonic Corporation etc., who have placed orders for our products from time-to-time throughout their history as well as currently today!

Triad Magnetics

Triad Magnetics is a leading manufacturer of audio transformers, power transformers and inductors. Our products are used in many industries such as medical, automotive, telecom, etc.

We are ISO 9001:2008 certified and have been recognized by many organizations for our outstanding quality systems. We offer high-quality products at competitive prices with fast delivery times to meet your needs.

Micronix Enterprises Private Limited

Micronix Enterprises Private Limited is one of the best audio transformer company India. It is a leading manufacturer and supplier of audio transformers. Micronix Enterprises Private Limited has a wide range of audio transformers which can be used in various industries such as automotive, defense, power & energy, industrial automation etc.

Micronix Enterprises Private Limited also provides customised solutions as per your requirement at an affordable price range with high quality standards along with fast delivery time frame.

delivery package woman

Characteristics of a Top-Notch Supplier

In order to make your audio system more efficient and reliable, you need to buy an audio transformer from an experienced manufacturer. It’s evident that you should understand what makes them stand out from other companies.

Here are some of their characteristics:

Quality Guarantee – A good business partner will always offer their customers a quality guarantee on every product they sell. This means that if there is any problem with your products within three months of purchase, they will replace them free of charge. This ensures that you get a hassle-free experience when dealing with them while making purchases online or offline.

Customer Support – They also provides their customers with customer support services so that they can easily get in touch with them whenever they have any questions about their purchases or about technical issues related to their products.

Online Presence –  When looking at a company’s website, check out their contact information, social media pages and email address so that you can contact them directly if necessary. Ask them questions about the products they offer and ask for samples or samples of other customers’ experiences so that you can compare those with your own before making an informed decision about what type of product will suit your needs best.

How to find the best Audio Transformer Supplier

There are hundreds of companies that manufacture audio transformers in the world. The best way to find a reliable supplier for your business is by doing research and finding reviews from other customers.

The following steps will help you find the best Audio Transformers Supplier:

  1. Start with a search on Google for “Audio Transformers” or “Audio Transformer”, or choose a specific brand if you know what it is. You will see several results for your keyword, and this is where you need to narrow down your search results.
  2. Look at each website’s About Us page and make sure they have enough experience in handling audio transformers. This can be found on their website or through some other means (e.g., contacting them directly).
  3. Check out the company’s credentials by reading about them on their website (e.g., “About Us” box) and by checking their awards and awards won tab on their website (as well as any other tabs).

Conclusion

Audio Transformer Suppliers are there to convert an audio signal at a given impedance but it should have a level of quality that can be used in any stage or process of treatment. Always look for a company that has a good reputation for providing high-quality audio transformer suppliers which could be used in the production of any sort of acoustic and electric equipment like audio amplifiers, microphones, loudspeakers, and others. Hopefully, these resources will help you find the best resources you’re looking for, at a price and with quality that meets or exceeds your expectations.

 

Five Levels Of Success

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by Patti Phillips Ph.D. and Jack J. Phillips Ph.D., authors of “Show the Value of What You Do“

Think about your projects. Without you, your team, their time, and financial resources, the project would never get off the ground. Therefore, value commences with the right people at the right time with the right amount of time available and the appropriate financial resources. From there, the project rolls out. To create and demonstrate your projects’ real value, measure their success along the five categories in the previous section. Let’s call them levels, recognizing the desire to take it to the next level. From the perspective of the funder or sponsor of the project, the next level is more valuable than the previous level.

Here are the five levels of success, which define value for your project.

1. Reaction and Planned Action.

Can you imagine working with a group of people who are uninterested, see no value in the project they are working on, and are uncommitted? The effort to get things moving would be tremendous. Creating value from a project requires that participants view the project as relevant to their situation, important to their success, and necessary to the success of others. Measuring reaction data will show you that the project is useful, helpful, and appropriate — with project participants committing to make the project successful. Perhaps they would even recommend it to others. Reaction data is an important first level of success.

2. Learning.

People can only perform if they have the necessary information and know how to perform. Learning is the second level of success. But they must first buy into the project. Learning can lead to buyin. So, there is a connection between this second level of success and the previous. When people know what they need to know to make a project successful, their resistance will more than likely decrease, motivation will increase, and confidence to do the work will grow. To top it off, they can do the job! In most situations, projects include learning new knowledge and skills. Measuring learning for your project is essential, even if done informally.

3. Application and Implementation.

But it’s not just about knowing; it’s also about doing. Applying new skills, testing new concepts, completing tasks, exploring options, and identifying possibilities represent the third level of success — application and implementation. Measures taken here are helpful because they indicate that people are making progress using newly acquired knowledge, skills, and information. Those who are successful deliver greater value than those who are not. Application and implementation measures consider all processes

and procedures that are necessary to make a project successful, such as tasks, actions, behaviors, checklists, and policies. The information you garner from this third level of success is powerful. It will tell you what is working, what is not, and what reinforcement and support you and your team need to move progress along.

4. Impact.

So what if people are applying what they learn? How is it help ing you improve output, quality, cost, and time? Sound familiar? This mighty question, or something similar, is the question for which our clients most frequently seek our advice. We make the connection between what people are doing and the consequence of their doing it. This delivers the outcomes we define as impact, the fourth level of success. Impact is the most important level of success from the perspective of sponsors and project funders. Impact measures represent the consequence of application and implementation — they are the strategic and operational KPIs.

This level of success includes improvements in measures such as revenue, new customers, productivity, quality, incidents, waste, retention, and time, to name a few. Indicators of these measures are in organization records and databases. In governments, non governmental organizations (NGOs), and nonprofits, impact may include patient outcomes, employment, graduation rates, infant mortality rates, addictions, crime rates, and poverty reduction. In addition to these tangible measures, there are also intangible measures such as customer satisfaction, image, stress, patient satisfaction, teamwork, quality of life, and alliances.

When you demonstrate the value of what you do at Level 4, Impact, you are getting to the heart of the issue that led you to do the work you are doing. Delivering impact relies on success throughout the journey, making measurement at the previous levels even more important. You can only improve the all important KPIs with your project if people see the project as an imperative, know what they need to know, and do what they need to do to make the project successful.

5. Return on Investment.

Is it worth it? In the end, for many projects, this is the bottom line question. The return on investment in a project is the fifth and ultimate level of success. While there are many measures that tell us the financial efficacy of an investment, the two most common measures (and the most adaptable) are the benefitcost ratio (BCR) and return on investment (ROI) as a percentage.

First, the benefit cost ratio (BCR) is the monetary benefits from a project divided by the cost of the project. Benefit cost analysis has been used for centuries and is meaningful to many executives, particularly those in nonprofits, governments, and NGOs.

The second measure is the ROI, expressed as a percentage. The formula compares the net benefits divided by the cost multiplied by 100. The net benefits are the monetary benefits minus the project costs. Derived from the finance and accounting field, the ROI formula is a common measure in businesses. Even consumers understand it, as they can clearly see ROI when they invest their money in a savings account with a financial institution. For most executives, it shows the efficient use of funds. Impact alone is one thing; knowing how the monetary value of your project compares to how much you spent on the project is another. The higher the ROI, the more efficient the use of the funds.

 

*Reprinted from the book “Show the Value of What You Do” with the permission of Berrett-Koehler Publishers. Copyright © 2023

 

Patti Phillips and Jack Phillips

Patti P. Phillips, Ph.D. is a consultant and researcher, and the author of “Show the Value of What You Do“. She serves on the UN Institute for Training and Research board of trustees, International Federation of Training and Development Organizations board, The Conference Board Human Capital Advisory Council, and the Institute for Corporate Productivity People Analytics Board.

Jack J. Phillips, Ph.D. is the author of “Show the Value of What You Do” and an award-winning thought leader in the field of talent development. He is a global keynote speaker and has written over 100 hundred books, and all focused on the importance of showing the value of the work. He serves as chair of ROI Institute, a globally recognized consulting firm.

 

[Infographic] Anatomy Of A Tech Startup Team

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Building a tech startup? Focus on putting together a great team. Much of the success of a startup’s initial phases depends on its talent, so it’s vital to get the right people in. Plus, it’s absolutely essential that you bond well with your co-founders and first hires!

As a startup founder, it’s also absolutely critical to fill the right roles and functions at the start. To that end, award-winning collaboration and project management software Wrike has put together an infographic that examines the anatomy of a tech startup team, identifying the roles and responsibilities that a startup founder needs to fill to ensure stability and scalability.

Anatomy of a Tech Startup Team - by Wrike project management software

[Infographic brought to you by Wrike project management software]

 

Four Important Social Media Advice For Startups

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Social media provides the ideal venue for showcasing your company and increasing exposure. As a startup, you get access to these reasonably priced social media networks where you may reach a sizable audience and take advantage of various features. The most recent tools are also available to help you achieve your social media objectives and goals. Also, there are options like buying Instagram views from Famoid, which are very effective.

This post includes a list of recommendations to assist you in marketing your startup more successfully by raising brand awareness and achieving your marketing objectives. Starting from nothing and gradually developing a presence on social media might be challenging for a startup, but your job will be much easier with these suggestions.

1. Determine your market and target demographics.

Your market, as well as target demographics, should be well understood by you.

The following are some crucial metrics to consider:

  1. Location
  2. Demographics
  3. Interests
  4. Who are the individuals or businesses that your ideal clients follow?
  5. How frequently do members of your target market use social media?
  6. Additional online behavior on social networks and other websites

Consider these metrics since you need to be precise and develop your tactics and plans to increase your social media presence. While strategies vary from one business to another, the foundations always hold.

2. Select the most suitable social networks.

Select the social media platforms appropriate for your brand and the people you want to reach. Not every company needs to be active on every social media platform. LinkedIn may be more productive for some B2B companies than publishing on image-heavy websites. You must first establish your customer persona to choose the ideal platform for your organization. Then, identify the channels on which they are most active, and employ those channels skillfully to keep users engaged. Startups should have a presence on a limited number of platforms because it will be simpler to administer, keep them current, and allow for close interaction with followers.

3. Make solid social media pages and profiles.

Solid profiles & pages for your online profiles are another way to expand your reach on any social network. Branded profiles and cover photographs are part of this. You must also fill out all of the relevant fields. That’s as easy as a 160-character biography, website link, and location on a network like Twitter. Other websites, like Facebook, require a summary, a website link, an address, and a phone number.

Simply put, fill in as many fields as possible on your social media pages and profiles. You should then share a few updates before you begin your audience-building campaign. That will give those who visit your socials a reason to follow you.

4. Call in social media influencers.

Investing in influencer marketing is another of the best social media advice for companies. Like buying instagram views from Famoid, working with social media influencers can benefit your brand. Find a niche influencer who is compatible with your brand. Join forces with them to take advantage of their sizable social media followings and solid content development abilities. Your presence on social media will improve, and brand engagement will rise. Using influencer marketing can help launch your company successfully on social media.

Make sure you put the concepts into practice so you can systematically expand your business. Irrespective of how big or small your brand is, the advice applies to all businesses.

 

Bulletproof Your Goals Through Gamification

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by Mark Klingelhoefer, owner of Electric Entrepreneur

Are you struggling to stay motivated and accomplish your goals?

In the realm of goal setting, there are an overwhelming amount of principles you can implement to improve your goal-setting process such as SMARTER goals, time blocking, and milestones. There is one overlooked principle however that may be the solution you’re looking for: gamification.

What Is Gamification?

Gamification is defined as the application of typical elements of game playing (e.g. point scoring, competition with others, rules of play) to other areas of activity.

In other words, gamification is the use of video-game-like elements in everyday activities.

How Does Gamification Bulletproof Your Goals?

While other principles of goal setting focus on aspects such as managing time and increasing discipline, gamification focuses on one idea that other principles don’t – helping you enjoy the process of achieving your goals.

By applying game-like elements and principles to non-game activities, gamification can make achieving your goals more engaging, rewarding, and fun.

How to Implement Gamification in Goal-Setting

Form a Streak.

Forming a streak is a simple, yet effective idea.

Looking at your streak and seeing how many days you’ve exercised or read in a row shows you how much progress you’ve made. By engaging in a streak, you’ll only want to make the streak bigger and you know that if you fail to meet your goal one time, your streak will end and you’ll have to start over again.

Create a Reward System.

A reward system is a system put in place where you reward yourself for accomplishing a goal or completing a milestone that’s a part of your goal.

A big goal of mine a couple of years ago was to learn about investing so I enrolled in an investing course. The problem with the investing course was that it was pretty boring. It was the last thing I wanted to take part in after working all day.

I decided that I wasn’t going to complete this goal through sheer willpower, so I created a reward system for it. I told myself that after one hour of participating in the course, I would reward myself with a fun-size dark chocolate candy bar. And that was all it took.

My brain began to associate dark chocolate with the course and because of this, the process of sitting down and watching the course became much easier and I completed the course in less than a week.

Download An App.

Another way to gamify the process is to download an app on your phone that does the process for you. Habitica, an app on the iOS app store, is a perfect example of this.

You create your goals in the app and determine if you’re doing them on a daily, weekly, monthly, or one-time basis.

Every time you complete these goals, your character in the app gets experience points and coins. Your character levels up the more experience points you get and you are able to buy items for your character with coins. These items include armor, weapons, pets, and you can even exchange your coins for activities to reward yourself in real-life like watching a movie.

If you don’t complete your goals, however, your character loses health and can even die!

Get Creative.

The best part about gamifying the goal-setting process is that it’s completely up to you. Let your creative juices flow and create a gamification process that applies to you!

I’ve seen many unique approaches to gamifying your goals in the past and one approach, in particular, stood out to me. A friend of mine who owns a social media marketing company is a huge Dragon Ball Z fan and he tailored his gamification process to the show.

He showed me how he assigned points for each of his goals and associated points with the power levels of the characters in Dragon Ball Z. Each time he completed a goal, he leveled up and got closer to the character with the highest power level in Dragon Ball Z. In his level structure, there were more than 70 characters!

 

Mark Klingelhoefer

Mark Klingelhoefer is the owner of Electric Entrepreneur, a company dedicated to teaching aspiring entrepreneurs how to build a strong entrepreneurial mindset. Mark has learned from years of trial and error in entrepreneurship that a strong mental foundation is what helps you stay disciplined and what puts you on the right path to success as an entrepreneur.

6 Incredible Benefits Of Standing At Work  

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As workplaces are evolving, the popularity of flexible working has boomed. Though we might commonly think of this as having the option to work from home or flexi-time, another adjustment taking the world by storm is to allow employees the flexibility to work standing up.

But how might it benefit you?

1. Improved productivity.

In 2018, 146 NHS staff were part of a study to see if there was a correlation between standing at work and overall performance. The results, published in the British Medical Journal, found that standing can significantly improve productivity.

Another study also found that standing at work can boost productivity. After analysing 53 studies published by Applied Ergonomics, researchers found that 66% of people feel more productive and 87% feel like they have more energy, even just by standing for one hour every day.

2. Reduced back and neck pain.

It is only natural that sitting in the same position for long periods of time can cause your joints to become stiff and sore. That’s why many people invest in ergonomic chairs with lumbar support for their daily tasks.

That said, even ergonomic furniture cannot completely compensate for being sat still every day. Standing, on the other hand, can allow you to stretch your joints and keep yourself moving, reducing the risk of back and neck pain in the long run.

Of course, this does mean that you will need to ensure that the desk is the right height to suit you. In order to effectively do this, adjustable sit/stand desks might be the best option for you. These desks can be set at a variety of different heights, making them suitable for both sitting and standing comfortably, regardless of how tall you are.

3. Burns calories.

It is important to ensure that we do not consume more calories than we burn – this is how we put on weight, too much of which can lead to a multitude of health problems in the future.

Luckily, even when we are stationary, we burn calories – just whilst sitting at your desk you can burn 60 to 130 calories an hour. However, you can actually burn more calories being stood up. In fact, standing up can burn around 100 to 200 calories per hour.

4. Better circulation.

If you have ever been on a long-haul flight, you will know that sitting still for a long time can cause your blood to pool in your legs – yet, we still do this to our bodies every day at work. Instead, standing up can allow your blood to pump more effectively around your body, improving your circulation, as well as your overall cardiovascular health.

5. Improves your posture.

Standing at work can allow you to work on your posture, which in turn can improve the health of your joints and muscles. That said, there does need to be a conscious decision to stand correctly, as slouching will not do you any favours.

In addition to this, standing can strengthen the muscles in your feet, legs, ankles, and even your core.

6. Less chance of wrist strain.

When you work sitting down, you might find that your wrists rest against the desk, laptop, or keyboard. This can cause your wrists to become strained. However, standing at a desk can allow you to more comfortably hold your arms at a 90 degree angle, which is much better for your wrists.

 

4 Streaming Trends For Brands To Watch In 2023

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by Nuno Andrade, VP of Strategy at Media Culture

As we approach 2023, advertisers will be exposed to even more opportunities to reach their target audiences via streaming television. These changes will allow brands to not only reach new consumers, but to reach their existing audiences within a new medium.

Advertising through streaming TV offers many benefits compared to advertising through traditional options. Along with precision targeting, placing ads on streaming TV platforms allows for better measurement and insights that can drive more strategic decisions moving forward.

Below are 4 streaming trends for brands to watch in 2023:

1. Streaming platforms will begin to provide program-level visibility to advertisers looking to buy specific content.

As the channel continues to grow, advertisers will demand more visibility into the content that their ads are being featured on. To date, very few platforms have been able and/or willing to provide this insight, but as streaming audiences increase and advertisers move from linear to streaming, pressure will increase on streaming platforms to make this data available.

2. First-party data takes center stage.

With the continuing deprecation of third-party cookies, advertisers will be forced to consider the treasure trove of first-party data that they have on their consumers and how they will be able to take advantage of it to target existing customers, as well as find new ones. With this comes a real need to develop a data capture and retention strategy that is not only all-encompassing, but also takes privacy regulations into account. This need is not limited to streaming media but all the more important within a medium where inventory is sold at a premium, making accurate targeting an absolute necessity.

3. Live streaming programming (and reality TV) will continue to scale.

There’s no doubt that sports are the primary live-streaming opportunity. However, consumers can expect to see reality TV programs take over their streaming platforms. The signs are already upon us: Discovery leadership took over HBO Max; Dancing with the Stars is now on Disney Plus. Why is this important? Brand advertisers prefer to access concentrated audiences at scale via appointment television.

4. Mike at Manic Mechanic will buy his first CTV ad.

What does Ryan Reynolds have to do with your local auto mechanic? More than you think. Ryan Reynolds is the chief creative officer at MNTN (pronounced “Mountain”) Performance TV, the first self-serve CTV platform. Although currently only available to large brands and agencies, MNTN represents the first step in the commodification of TV inventory, making it available to all advertisers, in much the same way Google Ads (AdWords, at the time) did for paid search ads in 2020.

Placing video advertisements on a streaming platform can increase brand awareness and inspire more viewers to consider your brand the next time they are looking for a product or service that your brand provides. In 2023, as consumers become accustomed to having their binge-watching interrupted by more ad breaks in exchange for lower streaming costs, working with relevant streaming service providers will be fundamental to reaching the right audiences and achieving the best results.

 

Nuno Andrade, VP of Strategy at Media Culture, is a digital media industry veteran whose experience spans more than 15 years. He has worked with clients such as L.L. Bean, Citibank, CapitalOne, and Visit Florida. As VP of Strategy at Media Culture, Nuno specializes in bridging linear and digital media efforts within the agency while being responsible for the formulation of internal and client strategy.

 

A Simple Guide To Laser Cutters For Your Business

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Laser cutters are a powerful tool for businesses of all sizes, offering precision cutting and engraving capabilities that can easily be used to create products and prototypes. Whether you’re an entrepreneur working on creating a new product line or an established business looking to improve production efficiency, laser cutters can help your company achieve its goals.

This guide outlines the basics of using laser cutters in your business, from understanding their capabilities to exploring implementation options and potential costs. Read on to learn more about how laser cutters could benefit your business.

Benefits of Laser Cutters

The main advantage of using a laser cutter is its speed and accuracy. Unlike traditional methods, such as saws or scissors, laser cutters can quickly create precise cuts and intricate designs with minimal waste. This means that you can quickly create a product prototype or final version without wasting time or resources on trial and error. Laser cutters can also offer a high degree of customization, allowing you to create unique products with intricate details that would otherwise be impossible to achieve.

Implementation Options

There are a few different ways to implement laser cutters in your business. Purchasing a unit outright is the most expensive option, but it will give you the most control and flexibility. Alternatively, you could rent or lease a unit for short-term use. The laser cutting machines on the market come in a wide range of sizes and capabilities, so you’ll need to research to determine which one is right for your business. The market also has different software options to help you design and streamline your processes.

Costs to Consider

In addition to the cost of purchasing or renting the laser cutter itself, there are also associated costs to consider. The most significant cost is likely to be in materials. Laser cutters require specific types of metal and plastic that can be expensive. Depending on how often you use the machine, you may also have additional energy costs. Finally, if you don’t have an experienced staff member who knows how to operate a laser cutter safely and effectively, you may need to invest in training or hire someone with experience. Whilst these costs can add up, the long-term savings and increased efficiency of using a laser cutter should offset them.

Focus on Safety

Laser cutters are powerful tools but can also be dangerous if misused. Make sure you understand the safety protocols for your unit and follow them carefully. If you plan to use a laser cutter regularly in your business, consider investing in protective gear such as safety glasses or masks. Not only is this a safety precaution, but it will also help to protect your staff members from potential long-term health risks. You should do some research on the legal requirements for safe operation in your area as well.

Conclusion

Laser cutters offer a range of advantages for businesses of all sizes and industries. From improved efficiency to greater customization options, laser cutters can be a powerful tool in your business’s arsenal. However, it is crucial to consider the associated costs and implementation options before investing. With the proper research and planning, you can use laser cutters to make your business more successful.

 

Top Tips To Create A New Manufacturing Business

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manufacturing business

manufacturing business

If you are a young entrepreneur or a highly experienced business person, you may be looking for a new business venture. This may be your first company or one that diversifies your business portfolio to gain additional streams of revenue. It can be highly beneficial to consider starting a new manufacturing business, as the manufacturing industry is experiencing strong growth that is predicted to continue for the foreseeable future. Issues such as rising inflation and uncertainty in the global markets will pose challenges for all industries but the overall forecast for the manufacturing industry is a positive one.

One of the prime factors for the ongoing success of any manufacturing concern is to decide on a product or range of products that have sufficient long-term demand. Essential goods, such as food or beverage products, are one example of product lines that will have continuous demand. When you are considering starting a new manufacturing firm there is a range of points to consider.

This article explains two top tips when creating a new manufacturing business that will increase the likelihood of ongoing success.

Comprehensive Business Plan.

In many manufacturing start-ups, there is a significant demand for capital investment. Manufacturing firms need a production plant or factory on which to base their operations and processes. Depending on what is being produced, the factory may need to be a large building to construct production lines and hold the essential equipment. The equipment used will form another key cost along with the labour costs so that a suitably skilled workforce can run and manage the production processes. It is vitally important to construct a comprehensive business plan that outlines all the key purchases and costs involved in the setting up and running of the factory. The business plan should also be able to demonstrate the volume of goods that will be produced in a given period with an accurate forecast of revenue streams in the short and medium term. Put simply, a comprehensive business plan that shows the economic viability of a manufacturing plant is extremely important to gain investment and loans from finance providers.

You can calculate expected costs in the creation of a factory here.

Invest in Machinery.

Regardless of the type of manufacturing plant you have, it will rely on a wide range of technology and equipment to produce the goods. As part of your business plan, it is extremely important to create a comprehensive list of all the machinery you require. This will include the main production line machinery and other equipment that will be needed to clean and maintain the production line. If you intend to start a manufacturing business that produces food or beverage items, then hygiene and sanitary production lines will be extremely important. Equipment such as tote cleaning devices will be required to sanitize key storage and production machinery facilities that produce food and drink items. These pieces of equipment will help to ensure that the production lines operate safely and produce products that are fit for human consumption. As a rule, it is better to invest in the best quality equipment that is proven to be highly reliable in a production line environment. This will ensure that production lines can run for continuous shifts with a minimum of downtime or the need to repair them.

To Sum Up.

A comprehensive business plan is vital for the success of any manufacturing concern and can be instrumental in gaining outside funding to set up the business, buy essential equipment, and plant machinery. When buying equipment for your factory consider all production processes and the cleaning and maintenance equipment that will be needed to ensure the smooth running of production lines.

 

What Is Procurement Automation?

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Are you planning to explore what procurement automation is and how it can provide your business with the competitive advantage you need? You’ve come to the right place.

In this article, we will discuss all things related to this – from its definition and benefits to examples of how companies have implemented these processes into their operations. By the end, you will have a firm grasp of how it can increase efficiency and give your business an edge.

What Is Procurement Automation?

Procurement automation is the use of technology to streamline and optimize the process of purchasing goods and services. It involves the integration of various systems and tools to automate tasks.

This can provide tremendous value to a variety of industries, including manufacturing, construction and healthcare, and can be used to aid in the purchase of a wide range of goods and services, from raw materials to office supplies.

How Procurement Automation Is Done?

There are several steps involved in implementing this process:

Identify Areas For Automation.

The first step in automating procurement is to identify the specific tasks and processes that can be automated. This may include tasks like creating RFQs, evaluating vendor proposals and managing contracts.

Choose The Right Technology.

There are various types of technology available for this type of automation. This includes software-as-a-service (SaaS) platforms, electronic procurement systems and robotic process automation (RPA) tools. It is important to carefully evaluate the options and choose the technology that best fits the needs of the organization.

Set Up The Automation System.

If you have finally chosen the technology, the next step is to set up the automation system. This can be configuring the system, integrating it with other systems and tools and training employees on how to use it.

Implementation.

After the system has been set up, it can be implemented in the organization. This may require rolling out the system to all relevant departments and employees and testing it to ensure that it is functioning correctly.

Monitor And Optimize.

Once the automation system is up and running, it is important to regularly monitor and optimize it to ensure that it is working efficiently. This entails identifying and addressing any issues that arise, as well as making any necessary updates or changes to the system.

Benefits of Procurement Automation

A variety of advantages can be gained from using this solution. These include:

Increased Efficiency.

Automating procurement tasks and processes can significantly reduce the amount of time and effort required to complete them. This can free up employees to focus on more value-added tasks and can lead to increased productivity and efficiency.

Improved Accuracy.

It can also help to eliminate errors and improve the accuracy of procurement tasks, as it reduces the reliance on manual processes and data entry.

Enhanced Compliance.

Procurement automation can assist in ensuring that all necessary approvals and documentation are obtained and that all procurement activities are in compliance with relevant laws and regulations.

Reduced Costs.

This process helps reduce costs by streamlining the process, eliminating the need for manual labor and improving vendor selection. Moreover, automated systems can provide actionable insights that can help to identify areas where costs can be lessened.

Improved Vendor Relationships.

It can aid in streamlining communication and improve relationships with vendors, as it allows for more efficient and effective communication and collaboration. Furthermore, it can ensure companies that the best vendors are selected and that contracts are properly managed.

Enhanced Visibility.

This provides greater visibility into the procurement process, as it allows for real-time tracking and reporting on the status of purchases and vendor performance.

Procurement automation is a powerful and effective tool for companies to streamline their procurement processes, reduce costs and increase efficiency. By automating the various tasks involved in purchasing goods and services, organizations can save time and money while ensuring compliance with relevant laws and regulations.

All of these benefits make this process a valuable asset for any business that is looking to optimize its purchasing activities and gain a competitive edge. Various TPRM companies provide solutions to automate procurement processes, making it easier than ever for businesses to take advantage of this technology. With the right setup and implementation, companies can benefit from a more efficient, cost-effective and compliant procurement process.

 

The Power Of The Network

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by Alexandre Mars, Founder & CEO of Blisce and author of “Mission Possible: How to Build a Business for our Times“

Networks are everywhere, even in the animal kingdom. You only have to look at a pack of wolves, a hive of bees or a herd of elephants to see animals helping each other move ahead in life. When humans first put down roots in permanent settlements, their networks multiplied, growing in complexity. They expanded beyond the family unit to encompass neighbors and colleagues who help and protect one another. These are the individuals we rely on day in and day out, the people who make up our network.

In countless different settings – including parishes, synagogues, mosques, trade guilds, masonic lodges, and trade unions – all the clubs we join and the groups of old friends from high school or college we spend our time with, we meet and get to know each other, willingly offering assistance and turning to one another for help in case of problems. A network is also the sum of all the informal connections established between family members, friends, or individuals in a professional setting. It is the list of names in our address books, our inboxes, and our social networks.

Frigyes Karinthy developed the theory of ‘six degrees of separation’, also known as the ‘six handshakes rule’, in 1929 – an age when travel and communication were becoming more convenient, but the idea of globalization was still years away. Karinthy demonstrated that any two people in the world could be connected by a chain of six links ‘using nothing except the network of personal acquaintances. In 2016, Facebook officially announced new findings that overturned Karinthy’s original theory: any two users on the platform at the time were connected by 3.57 degrees of separation.

I don’t know anyone who doesn’t have a network – but I know a whole lot of people who complain that they don’t have one. Of course, some people are born in the ‘right’ place, grow up in the ‘right’ neighborhood and go to the ‘right’ school or university. It’s true that they start life with more contacts and connections than the average person. And then there are the less advantaged. They have some ground to cover, but they aren’t starting from zero. Unless you have grown up like a hermit, cut off from all human contact, you know someone who knows someone who, it turns out, knows someone else.

The key to success is to be aware of this and take advantage of that window of opportunity that life provides, which we all have equal access to: the ability to make the conscious decision to develop the network you have. That means taking the appropriate measures to develop new contacts, as well as maintaining contact with the people you have already met – even if only at a distance or on a sporadic basis – in order to integrate and retain them in your ‘circle of connections’.

My wife and I can both recall the hours upon hours we spent writing Christmas cards in the early 2000s. I printed hundreds of them each December, going through my entire Rolodex and all the business cards I’d picked up throughout the year. I wrote a personalized notes for almost every person I knew. I didn’t leave anyone out, in the spirit of the American proverb: ‘Be nice to people on your way up because you might meet them again on your way back down.’ Florence labored away helping me stuff envelopes; I obviously couldn’t afford to pay an assistant.

Don’t forget, a network works both ways. It’s never a one-way street. To keep it alive, you must be able, or at least willing, to give something back in return. If you think you can simply take and ask for favors without giving anything back, your network will eventually reject you. The exchange of gifts and counter-gifts has formed the cornerstone of human societies since their very beginnings. At the dawn of the twentieth century, the father of modern anthropology, Marcel Mauss, devoted several studies to what he called a social contract based on reciprocity, the very basis of a person’s membership in society. If I give something to you, I know you will one day reciprocate. It doesn’t matter when – it might not be today or tomorrow. What is important is that I will ask you for help and you will be there to answer the call. This reciprocal exchange, even if only potential, reinforces our connection. Together, we form a community – a society.

Approaching potential clients for A2X, I turned this dynamic on its head. My survival depended on them, but in demonstrating the disruptive power the internet would soon unleash upon the world, I convinced them that they needed me.

The world was in crisis when I was developing Phonevalley. Nobody would listen when I tried to explain that mobile phones were the future, so I went back to basics and reached out to my network. I excavated my HEC alumni directory – in paper format – and scoured it for names, sending out hundreds of emails. I received very few responses, but the ones I did receive were very helpful. I think particularly of Vianney Mulliez, who saw my project’s potential for supermarket chain Auchan, the fourth-largest retailer in the world, and put me in touch with the relevant person at the company. What does it matter that all the others didn’t reply?

Don’t be afraid of turning to your network. After all, you miss all the shots you don’t take. But keep in mind, it is important to reach out to the right network.

Take Bill Gates’ network and your network, for example, they are two different entities, operating on different levels. It’s only natural that you’re attracted to networks higher up on the ladder than your own, but be wary of aiming too high, too soon – you might miss out on the opportunities your own network has to offer. Rest assured; you will reach the top one day. But start by climbing rung by rung. Nobody jumps from the little league straight to the majors.

Aim for the next rung right above you. Meetups – speed-dating for the professional world – bring together people from similar levels, making them a very effective form of networking. They provide the setting for individuals to strengthen their networks, even with just two or three additional contacts. Are you an early-stage entrepreneur? If so, you might meet people established in business for two or three years, sometimes longer. Cast a wide net and prioritize quantity at first; quality will take care of itself later. You probably won’t meet Jeff Bezos, but what would you really stand to gain from that anyway? He’s not the one who will help you grow stronger – there are too many degrees of separation between you.

And finally, define your objectives before you reach out to your network. What favor are you going to ask? Don’t ask for the impossible – even if you do, you won’t get it. What about helping raise funds, establishing partnerships, increasing awareness of your brand or winning clients? Your request must be well-formulated, attainable, and attractive. Be careful what you ask for because you’ll never get a second chance to make your case. Don’t go overboard – if you reach too high, you might end up like Icarus who flew too close to the sun.

I sometimes receive astounding emails from people who consider me part of their network because of a brief exchange at one of my conferences. Take the young president of a small local charity, for example, who asked me to help him out by paying him a monthly salary. That type of move takes confidence – I’ll give him that much!

 

*adapted from “Mission Possible : How to Build a Business for our Times“ (Jan 2023)

 

Alexandre Mars

Alexandre Mars is the Founder & CEO of Blisce, an investment firm committed to investing differently (Spotify, Pinterest, Headspace Health, Too Good To Go and Brut). In 2014, he created Epic Foundation, a global foundation that seeks to empower and protect children, youth and our planet. He is author of “Mission Possible: How to Build a Business for our Times“.

 

We’re All Playing A Game. The First Step Is Making The Rules.

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by Dan Nicholson, author of “Rigging the Game: How to Achieve Financial Certainty, Navigate Risk and Make Money on Your Own Terms“

I’m a Seattle Seahawks fan, for better and worse. One of the most frustrating things about watching them play is knowing that while they are clearly talented enough to win, they continually make decisions that work against them.

At times when they should be winning, they almost seem to beat themselves. From afar, it appears they are competing with themselves.

Business owners work similarly — they unknowingly beat themselves by pushing harder on the gas without releasing the emergency brake. Part of the problem is entrepreneurs are constantly surrounded by success stories — some of which always seem to have the same names attached to them.

Because we live in a comparison culture, we work hard to compete with those success stories, pressing on that gas, not understanding how others continue to win while others can’t seem to catch the same break.

I’ve worked with hundreds of business owners over the past 20 years. I’ve analyzed thousands of client conversations and studied big names. A commonality in the success stories is that the big ones figured out early on that really, business is a game — and winning that game is about rigging it to your own rules.

Think about all the wildly successful icons we know: Oprah Winfrey, Jeff Bezos, Bill Gates; even rock stars like Mick Jagger or the late great David Bowie.

What are these icons known for other than their success? We know them for setting their own rules and playing their own game.

Oprah didn’t just do as she was told until she hit her big break. Gates, Bezos and Bowie didn’t change the world by doing things exactly as they’d been done before.

While I’m not saying you must be a larger-than-life character, I am saying you have to figure out what makes you YOU before you seek success.

Oprah found success in media because communication and connection are built into who she is. Gates became a technology pioneer because he’d been inventing software since he was young. Every success story you’ve heard about enigmatic leaders such is rooted in personal passion.

Ask yourself: What motivates or allows you to play your game? Express yourself for who you are before you were told you had to be someone else to “make it.”

The most successful entrepreneurs are those who make moves that bring them closer to what they want — and those priorities are based on who they are rather than others’ idea of success.

Here’s an example of the consequences of failing to play your game. Back to football for a second: Let’s say you get to the championship game, but then you lose because you were playing someone else’s style (ahem, the Seahawks being a run-first team that loses the Super Bowl because they threw the ball). That’s a much bigger pill to swallow than losing, but you stuck to your principles.

Conversely, say you’re a coach who’s constantly losing because your team has no identity; week after week, you’re trying to borrow from everyone else. That’ll get you fired, or your job will be unstable because you can’t sustain yourself copying others. I’d also wager you wouldn’t be very happy.

The point is that we don’t have to conform to “one” way — to someone else’s way. The cognitive load of pretending to be someone else is too heavy.

There’s a quote by Virginia Satir that says: “Most people prefer the certainty of misery to the misery of uncertainty.” That quote is so powerful and disorienting that I opened my book, Rigging the Game: How to Achieve Financial Certainty, Navigate Risk and Make Money on Your Own Terms, with it.

And why do most of us prefer predictable misery to uneasy uncertainty? Because while we are all going on our own hero’s journey, so many of us borrow versions of success or attempt to play someone else’s game instead of our own.

In order to stop playing against ourselves or getting in our own way, we must align our espoused values (the things we’re taught we need to prioritize) and our values in action (the things we actually prioritize). When they are, we will always play by our own rules, the ones that get us closer to winning our own game.

 

Dan Nicholson is the author of “Rigging the Game: How to Achieve Financial Certainty, Navigate Risk and Make Money on Your Own Terms“. In addition to founding the award-winning accounting firm Nth Degree CPAs, Dan has created and run multiple small businesses. Dan also hosts the Rigging the Game podcast, and is a Consulting Producer for PBS’ Opportunity Knocks. 

 

How To Get Your First 100 Customers

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Are you just starting and looking to obtain your first 100 customers? Well, this article is for you. A business is a hobby until you receive your first 100 customers. However, don’t worry; if you are solving a problem that people have, then it’s pretty easy to get your first customers.

First, build your customer profile. That includes demographics (age, income, and gender) and psychographics (values, opinions, attitudes, lifestyles). What do customers care about? What brands or services do they use or shop at? Ensure you understand how your potential customers are currently solving the problem and how you can improve on current solutions.

Once you understand your customer, you should tweak your marketing funnel to encourage them to convert. The marketing funnel starts with awareness, consideration, and then purchase. On average, customers need to hear the marketing message seven times before they buy.

Before you try to get customers, you must understand who your target customers are and why they want to buy from you. You need to be able to solve the customer’s problem. It would help if you had a clear understanding of what that problem is. As you talk to customers, listen to what they say and use the feedback to iterate your idea.

Find people who have the problem that you’re trying to solve. Listen to how they describe the problem. Get feedback on your proposed solution and iterate on the idea.

Find out where your customers hang out and how they solve the problem. What are their current pain points? How can you improve on the current solutions? Make sure you can market to your existing group before moving to another group.

Here are some ways to get your first 100 customers:

  • When starting, you should be using friend and family connections. Ask them for feedback. Ask them for referrals. Make sure you exhaust your existing network. For example, send an email to a blogger or reporter that you are acquainted with.
  • Start blogging early. Provide helpful content for people. Use Google Keyword Planner to find keywords for your content.
  • Get good at storytelling. Make sure you have a killer story to entice customers.
  • Sponsor events – You can sponsor events your target customer will likely attend. If you need more budget to sponsor events, you can direct message users who are attending events on social media.
  • Connect via LinkedIn. Use LinkedIn to join a community, participate in conversations, meet potential customers, etc. When you are given a chance, talk about your product and service. Try to get feedback from potential customers.
  • Reach out to people who are experiencing the problems you’re trying to solve or are complaining about a competitor. Ask your followers for referrals. Use sites like hashtags.org to search for relevant hashtags. Use Twitter lists. Join a Twitter chat. Run ads.
  • Email marketing provides one of the best ROI for getting customers. Start a newsletter that your existing network or contacts can subscribe to. Use Rapportive to look up people’s email addresses and email them about your product. Use your email signature to grab people’s attention.
  • Go to Meetups in your area. Ask the organizers for permission to message the group. Send personalized messages to each member. Create a Meetup group.
  • Reach out to blogs for interviews. Write guest posts. Run ads on blogs. Use sites like Klear and Klout to find influencers. Reach out to commenters.
  • Look into forums and Q&A websites. Reach out to those asking relevant questions. On Quora, answer relevant questions and add a subheading below your answer, and mention something about your startup there. Mention your startup in your bio.
  • Attend industry and non-industry conferences.
  • Attend trade events and other potential venues.
  • Run ads to your landing page using Facebook ads and Adwords
  • Get SEO basics right.
  • Reach out and partner with complimentary startups. For example, a gym could reach out to health food bloggers to see if they would mention the gym on their blogs.
  • Make sure to watch your competition. Follow users who talk about your competition on social media and enter the conversation when appropriate. Join these conversations to entice people to your business. Use tools like SpyFu and SEMRush to see how your competitors are advertising.
  • Use free trials and freemium offers to entice new customers. You should start out having your product free and then make it paid a few months later. That way, you can build a base that will convert to paid customers.

Whatever you try, ensure you can measure success using tools like Google Analytics. For example, you can measure the bounce rate to see if a change has impacted your conversion rate.

Only make changes with testing. When making changes, make sure to A/B test as much as possible. Use tools such as Optimizely to AB test changes. Google Analytics can be used to test the impact of your changes.

Congratulations on getting your first 100 customers. You’ll notice that to get your first 100 customers; you’ll need to do many things that don’t scale. You’ll have to reach out to customers personally. If you need help with the process, book a call with a mentor at mentordial.com. Mentordial.com lets you book a call with leading mentors from top companies like Amazon who will give you career or business advice.

 

Outsourcing For Startups: A Quick Guide

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Outsourcing is the practice of hiring external companies or individuals to perform tasks or services that are typically carried out by in-house employees. This can include anything from manufacturing and production to administrative and support services.

Startups often consider outsourcing as a way to cut costs and gain access to specialized skills and expertise.

Benefits of Outsourcing For Startups

There are several benefits to outsourcing for startups.

Cost Savings.

One of the main benefits is cost savings. By outsourcing certain tasks or services, startups can avoid the expenses associated with hiring and training in-house employees. This can be particularly beneficial for startups that are operating on a tight budget and need to allocate their resources wisely.

Access to Specialized Skills.

Another benefit of outsourcing is access to specialized skills and expertise. When a startup outsources certain tasks or services, they can tap into a pool of skilled professionals who have the knowledge and experience needed to complete the work effectively. This can be particularly useful for startups that may not have the resources or expertise to handle certain tasks in-house.

Increased Flexibility.

Outsourcing can also help startups to be more flexible and responsive to market conditions. By outsourcing certain tasks or services, startups can scale up or down their operations as needed, without the need to hire or lay off employees. This can help startups to better meet the demands of their customers and adapt to changing market conditions.

How Startups Can Outsource Effectively

There are several steps that startups can take to outsource effectively:

  1. Define the tasks or services that can be outsourced – Start by identifying the tasks or services that can be outsourced without compromising the quality or effectiveness of your business. Consider the skills and expertise needed to complete the work, as well as the cost and time involved.
  2. Research potential vendors – Once you have identified the tasks or services that can be outsourced, start researching potential vendors. Look for vendors that have a track record of delivering high-quality work and are able to meet your specific needs and requirements.
  3. Negotiate terms and conditions – Once you have identified a potential vendor, it is important to negotiate the terms and conditions of the outsourcing agreement. This should include details on the scope of work, delivery schedule, and payment terms.
  4. Establish clear communication and expectations – Effective communication is key to successful outsourcing. Make sure to establish clear expectations and communication channels with your vendor to ensure that the work is completed to your satisfaction.
  5. Monitor and review performance – It is important to regularly review the performance of your outsourcing vendor to ensure that they are meeting your expectations and delivering high-quality work.

Popular Services to Outsource

Virtually every service can be outsourced. However, some services are more frequently outsourced than others.

Outsource Content Moderation.

Outsourcing content moderation refers to the practice of hiring external companies or individuals to review and manage user-generated content on websites or social media platforms. This can include moderating comments, removing inappropriate or offensive content, and enforcing community guidelines.

Outsourcing content moderation can help businesses and organizations to more effectively manage their online presence and create a safer and more welcoming environment for users. It can also free up internal resources and allow businesses to focus on other aspects of their operations. However, it is important to carefully select and work with reputable vendors who have the necessary skills and expertise to effectively moderate content and uphold the values and standards of the business or organization.

Outsource Sales & Marketing.

This refers to the practice of hiring external companies or individuals to handle certain aspects of a company’s sales and marketing efforts. This can include activities such as lead generation, market research, and email marketing. Outsourcing sales and marketing can be a cost-effective way for businesses to access specialized skills and expertise, and can help to free up internal resources for other tasks. However, it is important to carefully select and work with reputable vendors who have a track record of delivering successful results and align with the values and goals of the business. It is also important to establish clear communication and expectations with the outsourcing vendor to ensure that the work is completed to the desired standards and meets the needs of the business.

Outsource Back Office Support.

This is the practice of hiring external companies or individuals to handle certain administrative and support tasks. This can include activities such as bookkeeping, payroll, and customer service. Outsourcing back office support can help businesses to streamline their operations and free up internal resources for more strategic tasks. It can also be a cost-effective way to access specialized skills and expertise. However, it is important to carefully select and work with reputable vendors who are able to meet the specific needs and requirements of the business. It is also important to establish clear communication and expectations with the outsourcing vendor to ensure that the work is completed to the desired standards and meets the needs of the business.

Outsourcing can be a valuable tool for startups looking to cut costs, gain access to specialized skills and expertise, and be more flexible and responsive to market conditions. By following these steps, startups can effectively outsource certain tasks or services to external vendors, while maintaining the quality and effectiveness of their business.

 

Healthy Ways To Increase Energy

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Energy is an essential part of our daily lives. It’s what allows us to get up in the morning, tackle our to-do lists and pursue our passions. But sometimes, despite our best efforts, we just can’t seem to get enough of it. If you’re feeling constantly tired or sluggish, it could be that you need to find some healthy ways to boost your energy levels.

For starters, energy helps us to be productive and efficient. When we have energy, we’re able to focus better and complete tasks more quickly. It also helps us to stay active and engaged in life. Whenever we are feeling energetic, we are more likely to get out and exercise, socialize or try new things.

Finally, having energy can improve our overall well-being. Every time we feel tired and sluggish, it can affect our mood and lead to feelings of irritability or frustration.

What Causes Reduced Energy?

There are many factors that can contribute to low energy levels, including:

  • Poor sleep: Getting enough rest is crucial for maintaining energy levels. When we don’t get enough sleep, our bodies don’t have the chance to fully recharge, leading to fatigue and low energy.
  • Deficient nutrition: What we eat and drink can have a big impact on our energy levels. Skipping meals or relying on unhealthy, processed foods can leave us feeling sluggish and with less energy.
  • Dehydration: Staying hydrated is essential for maintaining energy levels. When we’re dehydrated, our bodies don’t function as efficiently, leading to fatigue and low energy.
  • Stress and lack of relaxation: Chronic stress and a lack of relaxation can take a toll on our energy levels. If we are constantly on the go or feeling overwhelmed, it can drain our energy and leave us feeling exhausted.

Healthy Ways To Increase Energy

So, how can we increase our energy in a healthy way? Here are a few tips:

  1. Get enough sleep: Pursue 7-9 hours of sleep per night to ensure that your body has the chance to fully recharge.
  2. Eat a healthy, balanced diet: Focus on whole, unprocessed foods that are rich in nutrients and will give you sustained energy throughout the day.
  3. Stay hydrated: Aim for at least 8-10 cups of water per day, and more if you’re exercising or spending time in hot or humid conditions.
  4. Exercise regularly: Regular physical activity can help to boost energy levels and improve overall fitness. The goal should be at least 150 minutes of moderate-intensity exercise per week.
  5. Practice relaxation techniques: Taking time to relax and unwind can help to reduce stress and improve energy levels. This could include activities like yoga, meditation, or deep breathing exercises.
  6. Get some sunlight: Exposing yourself to natural sunlight during the day can help to improve your sleep quality and boost energy levels.
  7. Take short breaks throughout the day: Taking short breaks to rest and recharge can help to improve energy levels and increase productivity.
  8. Avoid caffeine and alcohol in excess: While a cup of coffee or a glass of wine can provide a temporary energy boost, overconsumption can lead to crashes and disrupt sleep patterns, ultimately leading to decreased energy.

Can Supplements Help Increase Energy?

There are a variety of supplements that are marketed as ways to increase energy. Some of the potential benefits of taking these supplements include the following:

  1. Increased mental clarity and focus: Some supplements, such as caffeine or ginseng, may help to improve mental alertness and focus, making it easier to complete tasks and stay productive.
  2. Improved physical performance: Some supplements, such as magnesium or beta-alanine, may help to improve physical performance and increase energy during exercise.
  3. Increased energy levels: Some supplements, such as iron or B vitamins, may help to increase energy levels by addressing deficiencies or supporting the body’s energy production processes.

While these supplements may offer some benefits, they should be used in addition to a well-rounded, nutrient-dense diet and regular physical activity. Additionally, it’s important to speak with a healthcare provider before starting any new supplement regimen, as certain supplements can have potential side effects or interact with medications.

There are energy patches that are very helpful in boosting energy levels which also support cardiovascular health. This makes them a healthy way to increase your energy throughout the day.

By incorporating these healthy habits into your daily routine, you can improve your energy levels and feel more alert, focused, and engaged in life. Remember, taking care of yourself is crucial for maintaining energy and overall well-being, so make sure to prioritize self-care and make time for the things that nourish your body and mind.

 

Five Different Types Of Insurance Your Small Business Needs

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Most small businesses don’t think about insurance until it’s too late. But there are a few types of insurance that are essential for every small business.

Here are the different types of business insurance you should consider to protect your business.

1. Business Insurance – Protects Your Company From Financial Losses Due to Accidents, Property Damage, or Lawsuits.

When running a business, it’s essential to consider how you can protect yourself from financial losses resulting from accidents, property damage, or litigation. Business insurance is a vital tool that helps to ensure that your company is covered in all these scenarios and more. A comprehensive policy takes into account the full scope of risks associated with operations so that you can rest assured you have proper protection in place if the worst should happen. Typical components of a policy might include fire and commercial auto liability coverage as well as product liability and worker’s compensation insurance. Knowing you have this important layer of protection allows you to stay focused on running your business rather than worrying about possible financial disasters. Investing in business insurance is an important way to keep your company safe and successful for years to come.

Knowing the potential risks ahead of time helps provide peace of mind, allowing business owners not only to remain aware but also to be prepared against them. With suitable protection in place and backed by reliable coverage, businesses are better equipped to preserve their assets and succeed when unforeseen events occur. Business insurance gives employers a risk management tool for protecting their assets so that enterprise integrity remains intact, limiting unanticipated expenses, and reducing net losses when major events transpire. Therefore, it’s essential for all businesses to research various types of business insurance today so they can properly protect their companies from tomorrow’s potential pitfalls.  ​​​​

2. Worker’s Compensation Insurance – Covers Medical Expenses and Lost Wages for Employees Who Are Injured on the Job.

Worker’s compensation insurance is an essential part of workplace safety. It helps protect companies and their workers by providing financial protection in the event that someone is injured while on the job. In addition to covering medical expenses related to the injury, worker’s compensation also provides workers with replacement wages while they are unable to work due to their injury. This kind of insurance is especially important in industries where physical labour or risky activities are part of daily operations. It ensures that in case of a workplace accident, employees will be adequately cared for regardless of the financial situation within the company.

Investing in worker’s compensation insurance demonstrates a commitment to the health and safety of the workforce, providing peace of mind that any medical costs or lost wages due to on-the-job injuries will be taken care of. This not only reduces potential liability for employers but also provides employees with access to financial assistance should an unexpected accident occur. It is an investment in both employee wellbeing and business security that pays off many times over.

3. Liability Insurance – Protects You if a Customer Is Injured or Their Property Is Damaged as a Result of Your Business Operations.

Liability insurance is incredibly important for any business and can offer protection in the event of a customer being injured or their property is damaged as a result of your operations. This type of coverage provides financial security if you are ever sued by an individual or group, as it covers legal defence costs and any damages that may be awarded to the other party. It also covers medical expenses in some cases, so it’s a good idea to look for a policy that includes this as part of its terms. Liability insurance protects your business from financial loss in the event that someone sues you due to negligence, mistakes, or any other form of personal injury.

Whether you own a small business or are part of a larger organisation, having liability insurance can put your mind at ease knowing that your assets – including property and equipment – are insured if something unfortunate were to occur while conducting business operations. The importance of liability insurance cannot be understated, which is why it is recommended that all organisations have this kind of coverage built into their risk management strategy. With the right liability insurance policy in place, businesses can go about their operations without fear of potential lawsuits stemming from unintentional but costly issues arising from customer interactions.

Additionally, having such coverage demonstrates respect for customers and communicates professionalism by showing them that you are willing to go above and beyond to help keep them safe and secure when engaging with your business practices. As such, liability insurance offers invaluable peace of mind for businesses who may otherwise be exposed to financial losses resulting from customer injuries or property damage.

4. Commercial Auto Insurance – Covers Damages to Vehicles Used for Business Purposes.

Commercial auto insurance is an essential type of coverage for individuals and businesses that use vehicles for commercial purposes. It provides protection for accidents, liability claims, and medical expenses related to the usage of a business vehicle. Most policies also offer coverage in case a business vehicle is stolen. This is especially important considering repair costs can be especially high when dealing with business-related vehicles. For example, delivery drivers often require special equipment such as GPS navigation systems or materials racks which can be pricey to repair or replace. Also, commercial vehicles often have much higher utilisation rates than personal cars, so it’s important to make sure they’re fully covered in the event of any accidents or other damages on the road. Commercial auto insurance makes it possible to get proper coverage and maintain financial security even if something were to happen while using these vehicles for business operations.

5. Product Liability Insurance – Protects You From Lawsuits Resulting From Injuries or Deaths Caused by Products You Sell.

Owning and operating a business involves inherent risks, especially when products are involved. Product liability insurance helps to minimise such risks by protecting you from lawsuits resulting from injuries or deaths caused by the products you sell. This insurance is an important tool not only for businesses but also for the public’s peace of mind, since it serves as a safeguard against potentially hazardous products hitting the market. Purchasing product liability insurance gives you access to resources that can help protect your business from financial ruin in case of expensive claims or litigation arising from any product malfunctions or inadequate warnings against potential dangers. It also enables better management of customer complaints and issues, safeguarding your reputation framed by quality service and safety of use. Given all these factors, investing in product liability insurance is a prudent move for any business that deals with the sale of physical products.  It is essential to ensure customers’ trust and confidence in buying from your business so prioritising such important protection is highly advisable. With this policy in place, you can be more confident that your company will be properly shielded if called upon to defend itself in court over a lawsuit involving product-related issues.  Ultimately, this coverage provides invaluable peace of mind knowing that there’s another layer of protection which can be pursued as recourse against such undesired eventualities.

Conclusion

As a business owner, it’s important to understand the different types of insurance available to you in order to protect your company from financial losses. Business insurance can cover damages incurred from accidents, property damage, or lawsuits. Worker’s compensation insurance covers medical expenses and lost wages for employees who are injured on the job. Liability insurance protects you if a customer is injured or their property is damaged as a result of your business operations. Commercial auto insurance covers damages to vehicles used for business purposes. Product liability insurance protects you from lawsuits resulting from injuries or deaths caused by the products you sell. Cyber liability insurance covers losses incurred from a data breach or cyber attack.

As you can see, there are many different types of coverage available depending on your specific needs. Speak with an experienced agent today to get started on finding the right policy for your business.

 

What To Look For When Buying An Airbnb Property

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There are a wide variety of ways to invest in real estate. One very popular one these days is to buy a property to put on Airbnb. It’s geared toward people who are looking for short term rentals. It can be way more profitable than renting out to long term tenants and more fun as well.

You do need to get a few things right to be able to make money, however. It isn’t as easy as scooping up some deals on a cheap property and then listing it. There is more to it to be able to make it a viable investment and even a business.

In this article, we will go over what it takes to make money buying real estate and renting it out on Airbnb.

Think about location.

Everybody knows that location is important when investing in real estate. However, the location being good or bad is somewhat unique to Airbnb since the factors are different for each one. In fact, you may find that you have to buy rather far from where you are now if the criteria are not available where you were planning to buy.

You need to make sure to look in an area where there is a highly developed tourist infrastructure. Look for proximity to tourist sites with lots of amenities such as restaurants and public transportation nearby. If you have to buy in another area to meet these needs then look into hiring the best landlord property management Toronto has to take care of the property if it is too far for you to manage yourself.

You could also look for areas where there is a convention center or other business-related infrastructure that attracts business travelers. They will also be looking for short-term rentals and usually avoid hotels since they want to be able to cook if they are staying for more than a few days.

Pick the right type of property.

There are definite trends that happen with Airbnb rentals. They are mainly centered around the attraction to a certain area. This means that each tourist area is going to be unique in its own way with regard to who is the predominant type of traveler. It is your job to match the type of property with the needs of the average traveler.

For instance, if there is an amusement park nearby then most of the renters will be families. This means that you will need to have a large apartment or house that can accommodate them. Buying a small studio apartment won’t get rented out much in this scenario.

Price it right.

Understanding the market is also important so you can price the unit to make as big a profit as possible while not overcharging. Overcharging will result in it not being rented out much. Undercharging leaves money on the table. Research what the average price is per night for the same type of property in the same area to understand what you should be charging.

 

How Ecommerce Entrepreneurs Can Benefit From WMS Software

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warehouse management

warehouse management

With massive conglomerates like Amazon spoiling consumers with next- or same-day deliveries, the expectations from ecommerce vendors are higher than ever. For ecommerce entrepreneurs, this increases the pressure to deliver and do so quickly and accurately.  

However, ecommerce isn’t as simple as having products people want. Inventory and warehouse management is the crux of the industry. For enterprises that have been fortunate enough to thrive, growth brings a unique set of challenges when it comes to order fulfillment. Fortunately, technology has birthed warehouse management systems (WMS) to help ecommerce entrepreneurs achieve growth and sustainability.  

This article discusses WMS software, what it is, and how it can make your ecommerce operations more efficient.   

What is WMS?

WMS software is a cloud-based solution designed to enhance the operational efficiency of inventory management and fulfillment operations at a warehouse. It can be integrated with ecommerce platforms and order management systems to share real-time product inventory and automatically route orders to the best fulfillment locations.  

WMS software allows you to manage your entire supply chain from within a single system, using real-time data for inventory accuracy. It helps synchronize and streamline order and fulfillment across all channels. This WMS software even has a rate shopping tool to help get the best shipping deals. It’s an integral tool for any ecommerce enterprise with ambitions of growth and longevity.    

Benefits of using WMS

The best WMS software brings a wealth of customizable features depending on your business needs. You can find its primary benefits below.   

Real-time inventory overview.

A good WMS software allows you to see how much inventory you have across multiple channels in real time with the help of radio frequency identification (RFID) and bar-coding technologies. These tools enable you to track every product movement within the warehouse, allowing you to replenish fast-moving products accordingly. You can even integrate this with partner brick-and-mortar stores.

This data is integrated into your ecommerce platforms, allowing customers to see how much stock of the product they’ve been eyeing for weeks is left. This can potentially create urgency to finally check out their carts. This also avoids the disappointment of ordering products that are no longer available.   

Warehouse design systems.

There’s a lot going on in warehouses and fulfillment centers. Product movement is in constant flux, which can easily overwhelm warehouse staff and ecommerce platform administrators. With WMS software, you can set up workflows that work best for your business. Instead of having written processes that warehouse staff needs to remember, they can simply follow predetermined workflows in your WMS. This avoids confusion and supply chain issues and increases efficiency.  

Additionally, warehouse mapping features enable you to optimize storage space along with picking and packing routes. There are also space and floor plan analysis tools that help ensure movement efficiency, which can result in lower operating expenses.    

Optimized labor management.

Apart from warehouse workflows, WMS software also benefits workforce management with features such as real-time productivity dashboards and reporting systems. The data stored in WMS can let you see exactly what’s happening on the ground. It also gives insights into how you can optimize productivity.  

You can also see which manual tasks are taking up valuable time and find ways to automate or streamline them. The scanning technologies mentioned earlier are great tools for boosting productivity. Apart from tracking inventory, you can also use mobile scanning devices to increase the efficiency of tasks that include the following: 

  • Picking 
  • Packing 
  • Cycle counting 

Equipped with these tools, warehouse staff can quickly feed information into the system as they move, giving managers an excellent operational overview.   

Enhanced customer satisfaction.

When you have an optimized warehouse workflow, you have the information to cook up value-added services. This can include the following: 

  • Order bundling 
  • Same/next-day deliveries for certain orders 
  • Automated carrier selection based on shipping rates 

A good WMS also gives you the agility to respond quickly to damaged, missing, or returned orders. These all add up to better customer experiences, resulting in sustainable relationships and a solid brand reputation.   

Continuous improvement.

Data collection is the most powerful tool of management systems like WMS. It can be more effective than the most innovative ecommerce marketing strategies. The longer you use the system, the more information you have to work with to design better workflows and address inefficiencies. This could also lead to increased proficiency in forecasting sales and demand.  

Additionally, WMS software features get regular updates, adapting to changing industry needs. This keeps your operations progressively in tune with the times and customers’ increasing expectations and demands.   

Final words

As you can see, it’s hard to achieve your business’ full growth potential without WMS in your arsenal. While most established WMS platforms can perform the necessary inventory and warehouse management functions, it doesn’t mean you can just pick one with the best price.  

Take time to look at your business’ unique needs, where you can heighten productivity, and where inefficiencies are persistent. This will give you a good idea of which features to look for in WMS software as you use it to benefit your business.

 

How To Renovate Your Business: A Guide

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People tend to have mixed feelings about business renovations. Some may look forward to being able to give their business a bit of a facelift, whereas others may dread the time, effort, and money that goes into a business renovation.

Either way, there may come a time when you have no choice but to renovate your business, especially since you will want it to be a safe and welcoming place for employees and customers alike.

So, if you want to renovate your business but you’re not sure how or where to start, you’ve come to the right place.

Spend some time preparing.

Remember that a business renovation is just like any project, which means that jumping into it headfirst without any planning or preparation probably isn’t the best idea.

If you want your renovations to go smoothly, you need to set aside some time to plan what you want to do and how you will do it. You should also do some research into contractors as well as how much renovations cost so that you have a better idea of how much to budget – but we’ll get to that soon.

If you will be undertaking bigger construction projects during your renovations, you may find it helpful to create a punch list. And if you’re wondering, “what is a punch list?”, it’s essentially a checklist of things you need to do during the construction and renovation process

Set up a budget.

As mentioned, it’s important to set up a budget for your renovations, so that you know how much you can afford to spend. Of course, how much you budget will depend on various factors.

That being said, setting up a budget isn’t enough – you also need to make sure that you are tracking all of the renovation expenses so that you can actually adhere to the budget. Learning how to stick to a budget can be the key to achieving your financial goals.

Inform the necessary people.

If you are the manager of a branch, you may need to inform your superiors or even the business owner of your plans to renovate, so that they can approve them. You may also need to inform customers or clients of the renovations since bigger projects can mean that your business premises may be shut down for a while until the construction is complete.

Due to this, you will also need to figure out how to manage your employees during this time. Remote work can be an excellent solution. If you and your employees struggle to adjust to remote work during this time, this post can help.

Learn to delegate.

You need to understand that business renovations will take up a lot of your time, which means you may not be able to handle your normal workload on top of this as well.

Therefore, you may need to work on your delegation skills so that you can hand some of your tasks over to your employees and dedicate your time to the renovation project. Learning how to delegate can be difficult, but it’s an important skill for all leaders.

 

Top 6 Strategies For eCommerce Businesses’ Growth

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Expanding an eCommerce company is usually easier said than done. More often than not, what formerly performed admirably for your company needs to be revised. Therefore, a few new growth methods can be helpful given how quickly the eCommerce industry is evolving. 

Today’s article shares the top six ideas that could help you reenergize your online store, engage your customers, and increase sales.

1. Start Selling Wholesale.

Wholesale refers to selling products in bulk at a discounted price. This method has several advantages that make it an excellent strategy for spurring expansion without a significant financial commitment or high level of risk. Even though starting to sell wholesale can seem frightening at first, you can leverage tools such as Joor’s wholesale management platform to simplify the process from signup to checkout.

By becoming a wholesaler, you can expand into this sizable industry and discover new sources of income for your company. You’ll have fewer clients who will make purchases all at once, meaning you can save your marketing expenses and get a great source of recurring business.

2. Get More Product Reviews.

Reviews are one of the most important tools for business success. They play a significant role in building trust between retailers and customers. In fact, about 93% of consumers will search for and read reviews before purchasing. 

So, make sure to always ask your customers for product reviews. You could do this by sending follow-up emails or at the time of the sale. It’s equally important to avoid suppressing unfavorable reviews because they can reveal how you respond to criticism and deal with problems.

3. Streamline Your Store Design.

Your eCommerce website should be fast, straightforward, and simple to use. Start by compressing photos and videos to speed up the loading time of your website. Then, choose a lightweight store layout and use breadcrumb navigation. 

Another important tactic for streamlining eCommerce store design is to use white space and avoid overcrowding sections with text. This is aesthetically beautiful and makes your store simple for customers to scan. 

Last but not least, create a mobile-friendly display. You cannot afford to concentrate solely on desktop view because more than 40% of eCommerce sales occur on mobile devices.

4. Offer Upsells and Cross-Sells.

Upselling is persuading a customer to purchase an improved, frequently more expensive version of the same product. A side-by-side comparison table is an effective technique to show the advantages of the superior product so that the buyer may comprehend its advantages.

Cross-selling focuses more on highlighting connected goods. Displaying related products may raise the value of each sale. For instance, visitors will likely be interested in website hosting or buying stock photos if the customer buys website designs and templates. 

5. Invest in Customer Retention.

While customer churn is natural, there are some effective ways to reduce it. To begin with, you should simplify the return process. An estimated 16% of all online orders will be returned, so don’t make this process a headache for your customers. Offering a satisfaction guarantee, free shipping on returns and exchanges, and email or SMS updates on returns are only some of the ways that can help you simplify this process.  

Additionally, offer multi-channel support. Whether it’s by using social media, email, Google reviews, or Yelp, there are many ways a customer will provide feedback about one of your products. The more channels you can provide prompt help through, the better of an impression it will make on your customers. Finally, be sure to over-communicate in the post-purchase stage as this is one of the most important stages for an eCommerce business. After the order confirmation, a customer needs to be in the loop on their purchase. Failing to provide status updates, particularly if something is lost or damaged in transportation, can negatively impact a customer’s perception of your business.

6. Use Automated Emails to Win Business Back.

Sometimes all a consumer needs to return to your online store is a polite reminder. Winback marketing emails that are automated to send after a certain amount of time can make this simple. These emails can be quite advantageous for businesses selling subscription boxes or depending on monthly sales.

Consider adding a 15-20% discount to your win-back email if a client has been idle for some time. This might be the nudge they needed to finish their transaction and continue to think of your company.

Final Thoughts

Estimations show that there are about 24 million eCommerce websites. But despite the fierce competition, you may still succeed in eCommerce by attracting high-quality traffic to your online store, turning new visitors into loyal customers, and implementing the correct methods and growth strategies.

 

3 Smart Ways To Pay For Energy Upgrades

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There are plenty of reasons to invest in clean energy solutions for your business. However, the immediate costs and considerations sometimes seem too daunting to take that first step. Luckily, there are several options for the forward-thinking entrepreneur who wants to build their venture on a foundation of environmentalism, social responsibility, and resilience for the future.

When you’re ready to upgrade, consider some flexible financing options. If you need help figuring out where to start, contact your energy provider about conducting an energy assessment of your business. They may also provide insight into some of the financing options and benefits described below.

Ways to Pay for Future Energy Upgrades

1. Financing Options with Your Bank and Energy Company.

The upfront clean energy upgrade costs are often steep. More often than not, a business can only purchase some things they need outright. That’s why financing options are available to help you keep immediate funds and pay for upgrades in installments. This is usually done via on-bill repayment or on-bill financing.

What’s The Difference Between On-Bill Financing and On-Bill Repayment?

With on-bill financing, you secure a clean energy upgrade with a down payment and pay off the remaining cost on your utility bill. The relationship remains between the customer and the energy provider. On-bill repayment has one key difference: the loan is provided by a third-party lender.

If you decide to go solar, your utility company or bank may offer you a solar loan. This rent-to-own plan is easier to understand than buying a solar system outright, and it’s the best choice for a small business or company that needs a lot of energy.

2. Leasing Equipment.

Another common method for obtaining the equipment required for energy upgrades is through a capital or operating lease. A capital lease is likely your best option if you’re investing in equipment permanently for the long term. The equipment becomes a company asset: you pay all associated taxes and charge any repairs and maintenance. This is a great way to get clean energy tax credits.

This could be a particularly enticing choice for those in manufacturing or construction that may be considering industrial solar integration or even any business that’s considering going fully solar and struggling with the costs of system installation. Businesses in the manufacturing industry also stand to do the most social good by prioritizing energy efficiency and switching to renewables. On the other hand, an operating lease is more like a rental. You can extend the lease, purchase the equipment at the contract’s end, or return it.

3. Incentives and Rebates.

Businesses that switch to green energy can benefit from federal, state, and county tax breaks. The Environmental Protection Agency’s Database of State Incentives for Renewables and Efficiency is an excellent resource for researching region-specific benefits of upgrading to a clean energy efficient system. Separately, some grants are provided by the state, local, and specific federal government departments to help fund clean energy initiatives — particularly in rural and low-income areas.

One’s energy provider may provide rebates or other financial incentives for specific equipment installations and upgrades, from simple thermostats and lighting improvements to total retrofit projects. Some companies are willing to pay for up to 70% of these upgrades as part of the program. And, like governmental grants, some have their grant programs for businesses switching to green energy.

A socially responsible entrepreneur always thinks about aligning their values with their business. Switching to green energy is one way to reduce costs while demonstrating a commitment to the environment. However, the transition can be costly even if it saves money in the long run. But with suitable financing options, clean energy is well within reach — bringing us closer to a greener future.

 

Grow Your YouTube Views To Achieve Real Business Success

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No matter your reason for sharing videos on YouTube, one thing is sure – you dream of getting recognition there. No wonder, because for any of us, it’s a great pleasure to know that people watch and like our videos. After spending hours creating content, anyone would be pleased to see his efforts appreciated. But have you also been struggling with finding our audience on YouTube? If so, you should find out more about YouTube promotion. And I will be glad to tell you about it and why you should buy real views on YouTube to succeed.

Let’s first talk about why it is so hard to find your viewers on YouTube. Many people get unmotivated when they see that their videos don’t get enough views, likes, and comments. They start to doubt the quality of their content, and some lose interest in what they are doing. And that’s a pity because, in most cases, the problem is not about the video! The actual reason why sometimes your videos don’t get the attention they deserve is the lack of promotion. Think of how many videos we upload on YouTube daily! It has become hard for content makers to make people notice their videos. And if your video doesn’t appear in the recommendations, how can anyone watch it and like it? This is why the promotion of your videos is crucial. You need to make sure that people notice your content, and if they do, they will appreciate it, and you will finally get all the likes and comments you dreamt of.

But how do you prompt your videos on YouTube? As I have mentioned before, buying real YouTube views is a perfect way of YouTube promotion. And let me tell you why. When you use a good promotion service, it allows you to buy views from real YouTube users. This means that your content reaches a more significant number of viewers than it usually would, But it doesn’t mean that you will simply get more views. When buying real YouTube views, you get many other benefits, such as likes, comments, and follows. Why? Because, as I have mentioned, if your videos are good, people will like them! When you finally reach your target audience, they will get a chance to appreciate your videos. So the chances are that after watching it, they will be willing to leave a like, comment, and maybe even follow you to miss your newest videos! When you invest in buying views on YouTube, you get more than just views. You get an organic promotion of your account, and the effects of it stay with you for a long time. Thanks to that promotion, you can build your fanbase and find an audience that will stay with you forever – all you need to do is to find a good and trustworthy promotion service.

So I guess now it has become clear to you that instead of complaining about not getting enough views, you should simply start acting! Next time focus not only on filming your video but even more on promoting it. And if you find a good promotion service that will help you to buy views for your videos, you will be amazed by the potential of your videos.

 

The Importance Of Content Creation And How To Get Started

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Content creation can take many forms. Depending on your business type, you can make infographics, create videos, publish blogs, and use social media posts to attract audiences to your business. Content creation allows companies to generate effective digital marketing strategies to expand their operations. Social media is currently one of the most used media for content consumption. 

Our excessive reliance on personal devices has significantly changed our methods of content consumption, impacting the content creation process. Companies and brands must invest in digital content due to its popularity.

Why Is Content Creation Important?

Digital marketing experts estimate that an average American adult uses their phone for approximately eight hours daily and is exposed to around 4,000 to 10,000 thousand ads daily. Today, social media has made it easy to publish content. However, it is challenging to create visually appealing, meaningful, accessible, and relevant content tailored to the targeted demographic.

Here are a few reasons why content creation is important for your business. 

1. Establishes a Reputable Image.

Consistently posting relevant content for your audience establishes a favorable and trustworthy image in your viewers’ eyes. In the case of larger companies and brands, a brand identity is critical when it comes to social media publicity. The brand identity includes several elements like a consistent color pallet, infographics, filters, and fonts.

A visual identity helps build confidence and customer loyalty. This is why your content must always be in sync with your relevant line of work. Your content must follow the themes that define your brand.

2. Business Growth.

Once you start providing your viewers and customers with viable solutions to their problems through content creation, you generate leads and attract potential customers toward you. Content creation is a valuable resource to market your business to newer audiences. Most companies see content creation as a helpful business strategy and make it an essential part of their marketing strategies. 

3. Represent Your Expertise.

While so much information is readily available to everyone on the internet, getting helpful information has become challenging. Aim to create valuable content for your customers and establish your expertise in the subject. Your customers will trust you more if they acknowledge your expertise.

Where to Get Started With Content Creation

There are countless ways to create content on several platforms. Your content creation strategy depends on your intended purpose and targeted audience. Understanding your audience helps you create content they are most likely to engage with. Social media user demographics often depend upon the platform. For example, Pinterest attracts more creative people, and Twitter brings in users who value current affairs.

Here are two main ways to start creating your content:

1. Videos.

There are mainly two video formats, short form and long form. If executed correctly, video content can have a significant return on investment by increasing the traffic to your main website and the number of shares on your post, which presents you in front of larger audiences.

If you want to make informative content that is engaging and simultaneously relevant, making videos on your relevant platforms is a great idea. Video content is one of the most brilliant ways to provide your audiences with meaningful information. That makes it one of the most effective ways to promote your brand. 

2. Blogs.

Most businesses use blogs to target their desired demographics. Unlike other forms of content creation, blogs are easier to maintain and publish. Blogs have a higher chance of appearing in Google search results, so they help market your business.

Endnote

In the digital age, content creation has become the primary way for brands, celebrities, and companies to interact with their audiences. It is an effective and reliable way of marketing yourself or your business to targeted demographics. Brands must learn and implement content creation in their marketing strategies.

 

How To Improve Your E-Commerce Business With The Proper Workforce Management

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workforce management system

workforce management system

The e-commerce industry has experienced rapid growth in recent years, both nationally and globally. This trend has only accelerated during the pandemic, as companies with a solid online presence have seen significant growth. 

While this is good news for businesses operating in the e-commerce sector, it also presents challenges related to workforce management and staffing. These challenges can include difficulties in recruiting and retaining employees, managing a remote or dispersed workforce, and ensuring that employees have the necessary tools and resources to be productive. 

This may include implementing effective communication and collaboration tools, providing necessary training and support, and implementing clear policies and guidelines for remote work. By addressing these challenges, e-commerce businesses can ensure that their workforce is equipped to support the continued growth and success of the company.

Improving your e-commerce business with the help of your employees and proper workforce management can be an issue. This is why in this article, we will explore some of the challenges facing the e-commerce industry and discuss ways to tackle them efficiently.

Selecting Talented Applicants

Globally, the e-commerce industry is struggling with a talent deficit. That means it’s getting harder for businesses like yours to locate and hire qualified digital marketers, web developers, manufacturing employees, and distribution specialists. 

Creating a positive employer brand is one of the best methods to draw in the candidates you need. This will lower your hiring costs, increase your ability to retain your finest workers and make your business a desirable place to work. Businesses prioritizing building a solid employer brand frequently beat their rivals in a wide range of business metrics because they can attract the most talented job candidates.

In addition, many businesses have found that investing in resources about e-commerce and social media has been invaluable in their success. From articles and recruitment posts to webinars and advertised job openings, there are a wide variety of resources available online that can help businesses understand how to build and grow their team in the digital age.

Motivating Employees Who Work From Home And Caring About Their Well-Being

Due to the intense competition in e-commerce, you risk losing clients to rival companies if your employees aren’t performing correctly. For that reason, it’s crucial to keep remote workers interested, productive, and motivated. This goes double for those who have been working from home. You may achieve this company milestone by creating a solid business culture and focusing on your employees’ mental health via well-being initiatives.

Employees who began working for you during the epidemic might require different services than those you have already encountered. Focusing on offering a smooth and efficient onboarding process for new hires will guarantee that your business keeps its e-commerce workforce on the path to productivity and successful outcomes.

Keeping Young Workers On Board

Employee expectations have undoubtedly altered over the past few years. Young individuals who are replacing baby boomers in the workforce are most affected by this. You’ll probably find it very difficult to keep young, tech-savvy staff, who are essential to your e-commerce team if you fail to adapt to new ways of working.

Changing your leadership style, offering flexible work hours, and emphasizing employee health are just a few strategies you can use to attract young people and ensure they want to work for your company.

Making Use Of A Contingent Workforce

Too many businesses concentrate on bringing all of their partners in-house. While that makes sense for some jobs, it might not be the greatest strategy for a growing e-commerce department that needs to adapt to the always-shifting online retail environment.

A contingent workforce can help with that. It is a group of skilled workers who may be consultants, independent contractors, temporary employees, seasonal workers, or even employees of outside agencies. They assist you as and when you require it, whether it is for short-term initiatives or projects that fall outside the scope of work of your team.

Workforce Training And Development

While looking for top e-commerce talent is always a smart move, it’s equally crucial to upskill your current staff. Too many businesses entering the e-commerce industry fail to train new hires in digital skills or knowledge, which results in a loss of present staff members. An organization can be transformed with the help of practical workforce training, which will also aid in employee retention and engagement.

Give your existing marketing team, for instance, training in digital marketing and e-commerce so they can support the expansion of your business while also updating and expanding their professional careers. Your most driven employees will gain on-the-job abilities that will make them ideal for those difficult-to-fill roles in your e-commerce department, which could even help you fill talent gaps. 

Always set aside enough budget to invest in your employees’ training and development and showcase that you care about their future, and see them as an integral part of your e-commerce business for the years to come. 

Final Thoughts

In conclusion, effective workforce management is crucial for the success of any e-commerce business. By implementing strategies such as the ones we outlined in this article and implementing clear policies and guidelines, e-commerce businesses can improve their operations and ensure the productivity and satisfaction of their employees. 

When taking the time to properly manage their workforce, e-commerce businesses can set themselves up for continued growth and success in the competitive online marketplace.

 

6 OTT Advertising Strategies To Increase Conversions

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It is the subtleties of over-the-top (OTT) advertising strategies that make the difference between conversions and lack thereof. Move forward without a cohesive strategy and the money you spend on OTT advertising will produce little-to-no benefit to your bottom line. Even failing to modify your current OTT advertising strategy in response to advertising performance will waste your limited advertising dollars, time and effort.

TV-watching statistics change as time progresses, meaning your business must do the same. Here’s a quick look at half a dozen OTT advertising strategies that will boost your conversions.

1. FOMO Advertising has Never Been More Effective.

Advertising through video delivered by the web is a highly effective means of connecting with a target audience, especially if it shines the spotlight on an opportunity that the target audience has a fear of missing out on. In case you didn’t know, FOMO is an acronym that became popular this past decade. The letters FOMO are short for fear of missing out. FOMO has become an important part of the public lexicon, especially during the coronavirus pandemic.

Whether your business sells a service or product, it has a value that improves the quality of life or work. Highlight such value with a focus on what the target would miss out on without making a purchase and it will inspire him or her to consider taking action. Even if your value offering isn’t significantly better than that of competing companies, stressing FOMO by focusing on the potential to miss out on a sale, discount or other opportunities available for a limited time will help convert targets into customers.

2. Compel the Audience to Take Action.

OTT advertising that abruptly ends without a clear and compelling call to action is one that will fail to maximize conversions. Incorporate an artful directive at the end of the ad that convinces the audience to take action and you’ll steer the audience toward the intended aim.

Examples of such desired actions include:

  • A phone call to learn more about the product/service
  • Email
  • Online chat conversation
  • In-person visit to the business
  • Website visit

However, an overt call to action will alienate the audience. Deliver a somewhat subtle and eloquent prompt to action with persuasive language that highlights how the product/service benefits the customer and will produce the intended result.

3. Maximize Exposure.

Delivering your OTT advertising to the target audience through one medium is not enough. Maximize the extent of your reach through extensive OTT advertising across a litany of online streaming services, casting a wide net for extensive exposure. OTT service providers present invaluable opportunities to stream video content across a litany of platforms spanning a multitude of devices:

  • Smartphones
  • Connected TVs
  • Laptops
  • Desktops
  • Video game consoles

Internet video streams are nearly ubiquitous in the modern era. Businesses that take advantage of the full extent of OTT advertising channels will reap the rewards.

4. Gradually Narrow the Focus.

An initial OTT advertising plunge that spreads the word about the merits of your product/service to those who use video streaming for content casts a wide net. However, continuing to cast as wide a net as possible across posterity has the potential to backfire.

Gradually narrow the scope of your OTT advertising to the OTT video streaming services your target audience is most likely to use, deliver ads tailored to those specific buyer personas and you’ll maximize the efficiency of your OTT advertising budget.

5. Flexibility is Key.

Be flexible, continue to pivot following OTT industry disruptors and your OTT advertising dollars will make maximum impact. The pandemic, tech innovation and demographic shifts have caused widespread industry disruption. Business owners, managers and advertisers willing to recognize the dynamic component of OTT are that much more likely to thrive as an uncertain future takes shape.

Remain dexterous in the context of OTT ads, shift your advertising dollars and ads to new OTT marketing platforms as they emerge and you’ll maximize the efficiency of your ad campaigns.

6. Diversify Your Advertising Campaigns.

The OTT industry is incredibly dynamic, changing with each passing day. What’s hot today might not be en vogue tomorrow. Consumer attitudes, OTT pricing changes and the industry’s evolution are anything but static. Recognize that your target audience will gradually shift from one OTT platform to the next, keep your finger on the pulse of the audience and respond accordingly.

Continue to create fresh advertising content and artfully communicate your value offering across OTT channels to remain in lockstep with your audience’s progression from one video streaming service to the next.

 

5 Easy Ways To Make Your Business More Sustainable

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One of the biggest challenges currently facing humanity is climate change. Therefore, it’s essential to take action to secure a better future.

This is where sustainability comes in. Fortunately, more and more companies understand that they must innovate and implement environmentally conscious practices.

If you are a business owner or entrepreneur and want your operations to be eco-friendly but need some ideas to achieve that goal, here are just five ways to make your business more sustainable.

Reuse and Recycle.

Undoubtedly, one of the essential practices to make any business more sustainable is recycling.

If you want your business to be more sustainable, you must apply recycling and reuse principles in all processes.

This means evaluating the way you and your staff work throughout the day. What type of paper do you use when printing contract forms? Have you asked your employees to stop using disposable plastic cutlery in the office or bring reusable water bottles? Both can be great ways to encourage sustainability.

If you need more ideas, especially if your business is within the manufacturing industry, the UK government lists your responsibilities regarding commercial waste disposal on its website.

Implement Energy Efficiency Solutions.

Another thing that can help you make your business more sustainable is energy efficiency.

According to the latest UK government reports, energy consumption is one of the main sources of greenhouse gas emissions. Therefore, every person and business should be more efficient with energy use.

Consider switching to an energy provider that prioritises energy efficiency, or even install solar panels on your office roof.

Use Glass Furniture.

When it comes to sustainable furniture, many think of organic and natural fibres or expect to find second-hand pieces instead of spending money on new products. However, one of the green materials that many people overlook is glass.

Besides being elegant and durable, glass is recyclable. Therefore, if you choose it for your furniture, you’ll be reducing waste and saving natural resources.

If you want to install glass furniture, such as glass console tables or shelves, change your windows, or use this material in paper trays, expert glaziers, such as those at Halifax Glass, can lend you a hand!

They offer a bespoke service and are committed to giving customers the best solutions for their glass needs.

Using Locally Sourced Products.

Another key sustainable decision you can make is to use locally sourced products and services.

When you localise your business supply chain, you use less transportation or shipping. Consequently, you help the environment by reducing carbon emissions and energy use.

In addition, using locally sourced products can also help you build consumer trust and loyalty!

Switch to Remote Work.

Commuting daily also leaves a significant environmental footprint. Fortunately, you can help reduce the carbon emissions generated by that trip through remote work.

Technology now allows companies to free workers from the shackles of physical offices. You can leverage it to have your employees work from home a few days a week.

What steps have you taken to make your business more sustainable? Share your tips in the comments below!

 

What Business Insurance Do You Need For Your Delivery Services? 

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business insurance with charts

business insurance with charts

The digital age has paved the way for eCommerce to thrive. And today, most consumers prefer to buy goods online due to the convenience it brings. This, in return, raises the demand for businesses selling products online and delivery companies for shipping the items.

As a business owner providing delivery services, aside from attending to day-to-day operations, you may also be wondering whether you need business insurance. The simple answer to that is yes. Running any business involves risks, so having insurance for your delivery service can help protect your investment against uncertainties.  

Whether you’re running a cargo or food delivery business, there are different types of insurance you can consider. They include the following:

Worker’s Compensation Insurance.

One of the business insurances you should consider getting for your delivery business is worker’s compensation. For one, some states may require you to have it. Therefore, purchasing workers’ compensation insurance ensures you adhere to the regulations of your local government. However, even if workers’ compensation isn’t a legal requirement, having it makes perfect sense, as it can help protect your team members who may sustain injuries while attending to their duties.  

In addition, the personal injury law requires you to compensate employees for work-related injuries. You should compensate them for their pain and lost earnings and pay their medical bills. However, you can avoid that by having workers’ compensation insurance for your delivery service business. It’ll help pay for employees’ hospital bills and compensate them for any other damage they may have suffered due to the workplace accident. This can go a long way in minimizing expenses in your enterprise to improve its profitability.  

Commercial Auto Insurance.

Commercial auto insurance is another important coverage you should consider for your delivery service business. This type of insurance can help protect you from financial loss if your company vehicles cause accidents and damage to other motor cars or road users. 

Essentially, you’re legally required to compensate other motorists should they suffer damages and injuries due to an accident caused by your business vehicle. With commercial auto insurance, however, you wouldn’t have to worry about shelling out a significant amount of money to cover the damages since your insurance provider will take care of that. A good example of commercial auto coverage is, hire and reward insurance. 

Commercial Property Insurance.

You can’t discount the importance of commercial property insurance if you own a warehouse for your delivery service business. This can help protect commercial property and its content against natural calamities like floods, strong wind, water leakage, storms, fire, etc. 

When natural calamities strike your building, you can lose all your products. Besides, your work equipment may get damaged. And that may force you to spend huge sums of money on repairs or replacements. But the good thing is that commercial property insurance can help reduce business expenses. It’ll cover the cost of all the damages your business may suffer due to disasters.

Data Breach Insurance.

Data breach insurance is a type of coverage designed to protect your delivery service business should you become a victim of online attacks. For instance, if hackers find their way into your business systems and access customer information, you could risk hurting your reputation, and customers may take legal action against you. 

When a customer files a data breach claim against your delivery service business, the law requires you to compensate them, which means additional expenses for your business. But with data breach insurance coverage, you can have assistance to pay all the costs associated with claims against your delivery business, including settlement and legal fees.

Product Liability.

Product liability insurance is another important coverage for delivery service companies. It can protect you against any financial loss or expenses that defective products can cause to clients. If a customer gets hurt by your product, you should compensate them for that. But with product liability insurance, you can protect your business from spending money to compensate such clients. The insurance company will be the one responsible for such settlements. 

Cargo Insurance.

Sometimes your products may get damaged or lost while in transit. And that brings losses to your company. For that reason, you need to invest in cargo insurance. It’ll cover any lost or damaged items while in transit. 

Takeaway.

Running a delivery service business can be a great way to make money. It’s a high-demand business, allowing you to work with many customers. But it’s important to ensure you’re protected against all the possible risks. You can achieve that by getting the right business insurance coverage. 

As detailed above, there are many types of insurance you can consider for your delivery service company. That said, select the most appropriate policy for your business needs and work with a reputable insurance provider to ensure the protection of your business against potential losses.

 

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