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Top Ways To Rejig Your CV

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It has been shown that on average companies take about seven seconds to look at a CV before they decide whether or not you are suitable for a job. This means that first impressions are so important to your success. However, with the competition so strong in the market just now, it is difficult to know how you can get your CV to stand out for all of the right reasons to an employer.

If you have been struggling with this, then here is a little bit of advice for you in order to make your CV more attractive to your potential employer.

Use a template.

This may sound like a risky thing to do when you want to get your CV to stand out. However, resume templates are a great way to focus your writing and to help you organize your CV so that it is attractive to your employer’s eye. There is nothing worse than having blocks and blocks of text. Even the most interested person will struggle to make it through a dense piece of literature. Make sure to be succinct and to the point with your CV and use a template to guide you when you are choosing what to write about.

Start Strong.

When you are beginning with your CV remember those first impressions are crucial. Due to this, it is important to start strong with a summary of your skills and accomplishments. Make sure that these are tailored to the job you are going for so that you can grab the attention of the recruiter immediately. Don’t forget that the personal part of your CV is also important. It gives you a chance to display how you are so right for the job and what kind of person you are going to be in the workplace.

Focus on results.

Instead of just focusing on your responsibilities you should focus on the results of your work. You should use quantifiable data which will highlight your skills and responsibilities. You should use real statistics on your CV. This will give you a chance to really showcase your skills as it can give real-life examples of how you have made an impact in your workplace and how vital you have been in past projects. These are all things that your new employer will appreciate.

Respond to the job.

You should create your CV with the objective to respond directly to the job description and explain why you are the most perfect candidate for the role. You can sell yourself by using your past achievements. It will also demonstrate that you have an understanding of the role that you are applying for. This may mean that you have to spend more time on your CV, but it will be worth it when you get the job.

Sorting out your CV.

This is something that is a struggle for many people. It used to be that you could provide a list of your past jobs and get the chance to interview for a position. However, these days there are so many people competing for jobs, you need to make sure your application stands out.

 

Is An SOX Audit For Private Or Public Companies?

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The Sarbanes-Oxley Act of 2002 (SOX) was enacted in response to the Enron and WorldCom financial scandals. SOX imposes financial reporting requirements on all publicly traded companies and any company that registers with the Securities and Exchange Commission (SEC).

The Sarbanes-Oxley Act does not explicitly require private companies to undergo a SOX audit for Sox certification. However, many private companies choose to do so to instill investor confidence and demonstrate their commitment to good governance. Additionally, some lenders may require a SOX audit to provide financing.

What Is a SOX Audit?

As we mentioned, a SOX audit is an annual audit of a public company’s financial statements. The auditor will review the company’s internal controls and procedures to ensure they are adequate and effective. The auditor will also ask whether the financial statements are free of material misstatement.

SOX audits are generally conducted in two phases:

Phase 1: In the first phase of the audit, the auditor will assess the design of the company’s internal controls over financial reporting. The auditor will also test the effectiveness of those controls.

Phase 2: In the second phase of the audit, the auditor will test selected transactions to determine whether they were correctly recorded in the financial statements.

Required Financial Reporting for Public Companies

To comply with SOX, public companies must file financial reports with the SEC quarterly and annually. These reports must include an auditor’s opinion on the fairness of the financial statements and whether they were prepared by Generally Accepted Accounting Principles (GAAP).

In addition to the financial reports, public companies must also establish internal controls over financial reporting and disclose any material weaknesses in these controls. Finally, public companies must maintain accurate documentation of their financial records.

Types of SOX Audits

Two SOX audits are internal control over financial reporting (ICFR) and financial statement audits. ICFR audits are focused on a company’s internal controls, while financial statement audits focus on the veracity of the financial statements.

ICFR audits are typically conducted annually, while financial statement audits are conducted quarterly. However, companies may opt to have their ICFR audit and financial statement audit conducted at the same time if they feel it would be more efficient and cost-effective to do so.

PCAOB Standards for SOX Audits

To ensure that SOX audits are adequately performed, the PCAOB has issued several standards that auditors must follow. These standards address planning, audit performance, and audit results reporting.

To plan and perform the audit effectively, auditors must have a good understanding of the company’s business and its internal controls. They must also identify and assess the risks of material misstatement, whether due to error or fraud. After identifying and evaluating these risks, auditors must develop an appropriate audit strategy designed to mitigate them.

Once the audit is complete, auditors must issue a report on their findings. This report must include an opinion on whether or not the financial statements are presented fairly in accordance with GAAP. If there are any material weaknesses in internal controls, these must also be reported.

Voluntary Financial Reporting for Private Companies

Although private companies are not required by law to undergo a SOX audit, many choose to do so to improve investor confidence and show their commitment to good corporate governance. A SOX audit can also help attract new investors and secure financing from lenders.

Why Comply with SOX?

So why go through the hassle of compliance if you’re not required to? For one thing, it could make your company more attractive to investors. Publicly traded companies are subject to more scrutiny, so by voluntarily complying with SOX certification standards, you signal that your company is committed to high governance standards. This could give potential investors more confidence in your company and make them more likely to invest.

Additionally, compliance can help prevent fraud before it happens. The procedures and controls put in place by SOX are designed to deter and detect fraudulent activity. By implementing these procedures, you can create a culture of transparency and accountability that will help reduce the risk of fraud at your company.

What Does Compliance Look Like?

If your company is subject to SOX compliance, there are a few things you need to do. First, you’ll need to appoint a Chief Executive Officer (CEO) and Chief Financial Officer (CFO). These officers will certify that your financial statements are accurate and complete. You’ll also need to establish internal controls over financial reporting and maintain documentation of those controls. Finally, you’ll need an independent auditor to review your financial statements and confirm their accuracy.

Final Thoughts

The Sarbanes-Oxley Act of 2002 protects investors from fraud and deception by requiring publicly traded companies to submit accurate and reliable financial reports. While private companies are not required by law to undergo a SOX audit, many choose to do so voluntarily to improve investor confidence and demonstrate their commitment to good corporate governance. Ultimately, whether or not to subject a private company to a SOX audit is a decision that should be made on a case-by-case basis.

 

Why Custom Software Is A Must For The Healthcare Sector

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Healthcare industry has a promising future. With better understanding of diseases and how to handle them through early diagnosis and treatment, the medical world is progressing in leaps and bounds. Developing custom software for healthcare companies is one major step towards this progression.

Just like the healthcare industry, companies focusing on digital healthcare have a bright future due to their innovative approach towards creating platforms that connect doctors and patients in a better manner.

The healthcare system needs software that can streamline the entire process of providing health care to patients. So, it’s not wrong to say that healthcare software development is booming.

Benefits of software development to the healthcare industry

A well-organized healthcare system can serve as a boon to the nation. It not only contributes to saving more lives, but also enhances the image of a nation. Any nation is recognized more for its healthcare system and infrastructure than any other feature.

Here are the top benefits of having custom software in a healthcare setup: 

1. Better disease management.

Development of innovative mobile apps focusing on particular disease can help patients manage the disease better. The app can make the lives of such patients easier.

2. Better connection between doctors and patients.

Web and mobile based applications can help doctors stay in touch with their patients in a better manner. The apps also make way for online queries or chat with the doctor. This provides relief to the patient and a kind of security by knowing that their doctor is just a few clicks away from them. 

3. Collaboration with other doctors.

Doctors can work as a team and learn and teach from each other’s experiences and cases handled. Specialists can hone their skills and keep themselves updated about the latest research and development in the medical field. Software can pave way for discussions and skill enhancement sessions among specialists in different countries.

4. Better handling of patients.

With state-of-the art technology, doctors and nurses can monitor patients in a better manner in the hospital. Thanks to various tech-based apps and equipment, it is possible for a doctor to monitor a patient even when they are not present in the hospital.

5. Easily accessible medical data.

Patients can easily access their medical data, such as lab reports, medical history, and treatment plans. They can also share it with other doctors for a second opinion.

Conclusion

In today’s medical scenario, it is hard to think about providing excellent health care without appropriate software. Healthcare companies today want custom software that caters to their specialized needs and streamlines their operations.

In this age of digitalization, software serves as the lifeline for healthcare industry.

 

 

 

 

 

 

 

 

5 Tricks To Increase B2B Sales For Your Company This Year

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The stormy years of 2020 and 2021 have become the driving force behind profound shifts in many aspects of life. As a result of the pandemic, we have witnessed businesses adjusting to the new reality by consolidating their operations, moving their operations online, reorganizing employees, and coming up with digital-based methods for interacting with their clients.

All of these shifts have had an effect on business-to-business sales. So, let’s go through various B2B sales tips to help you boost your sales figures this year.

1. Take full advantage of LinkedIn.

With over 830 million users, LinkedIn has become a great marketing approach for B2B leads since its founding in 2003. This platform differs from other social media in that its users are business-focused within a certain industry.

Everyone on LinkedIn is there for business communications, so bear in mind that your B2B target audience is there as well, eager to view your offerings. Unlike Facebook and Twitter, professionals use LinkedIn for dynamic communication while growing their brand and reputation.

Your content will be seen on LinkedIn, unlike Facebook, which uses an algorithm to choose what appears in your connections’ feeds. Moreover, LinkedIn users are focused on professional opportunities, and their attention isn’t readily diverted.

Clearly, investing in a campaign where you’ll use LinkedIn for sales is a smart step. If possible, you should also find and use LinkedIn sales tools to help you automate various dull tasks and improve your overall efficiency.

2. Follow up on cold pitch emails.

The majority of follow-ups are impersonal and forgettable. Even worse, companies become anxious about sending a second or third email following the first.

Many feel that a prospect is uninterested if they didn’t respond to the initial email. And although this may be true occasionally, it’s not always the case.

There are multiple reasons a prospect may not react to your initial cold email: 

  • It may have been identified by a filter and sent to the spam folder of the intended recipient. 
  • The email may have ended up in the recipient’s inbox, but the subject line failed to attract their attention.
  • You may have composed the ideal cold email, but the receiver was preoccupied with their work and forgot about it. 

But this doesn’t mean that you shouldn’t send it at all. To help yourself craft better follow-up emails, you should use a simple follow up email template. It will help you cover all of the important information, draw attention, and secure a deal later on.

3. Be patient.

A B2B sale requires communicating with multiple decision-makers and touchpoints prior to closing.

When you pressure a buyer to make a rapid decision, it demonstrates that you haven’t researched the company’s internal processes. In addition to coming out as an amateur, you wind up driving prospects away.

When you devote time to understanding a business, you discover its triggers and obstacles. Therefore, you should focus on gaining buy-in from other stakeholders to expedite the process after establishing contact.

For instance, if you’re selling logistics software, request a meeting with the warehouse staff to discuss the obstacles they face, assemble all the facts, and present a convincing case to the executives.

4. Have a firm price sheet and don’t budge.

Price differentiation is one of the most common B2B sales mistakes. Sales representatives frequently believe that the lower their price quote, the easier it will be to persuade the prospect.

But if your product can accomplish what it claims to, there’s no reason to underprice yourself. If you fear that discussing price would interrupt a conversation, here’s a secret. In sales, confidence is a powerful and contagious weapon. Stick to the predetermined price sheet and lead the conversation with the product’s features and significance.

If you can persuade a prospect of the merits of your product, price becomes secondary. In this manner, you won’t only close larger-value contracts, but you will also establish an attractive brand image.

B2B teams have plenty to learn from Apple’s B2C marketing techniques. Concentrate on what matters most to clients, strive to execute better than everyone else, scale quickly, and remove pricing from the discussion.

If you’re uncertain about your price approach, build a three-tier plan to provide the consumer with extra options. However, ensure that you don’t overwhelm them with information and that you adequately explain each layer.

5. Social selling.

With the meteoric explosion of social media, it became evident that selling your services or products directly often leaves you lacking in one crucial area, which is brand knowledge and recognition.

Social selling, on the other hand, enables you to progressively warm up your prospects by sharing valuable information, demonstrating your knowledge in online groups, responding to people’s questions, etc.

In other words, you’re becoming a corporation that attracts prospects, one that is regarded as an industry expert. So, when consumers require a product or service similar to yours, they will readily recognize your brand among the thousands of other companies on the market and choose yours.

Final words.

The global financial crisis has taught us a simple but important lesson. We must be adaptable if we want to adapt our business operations. In addition, we should all be receptive to new concepts and solutions. Following these five tips will allow you to remain at the forefront of innovation and consequently grow your business.

 

Making A Military Move? Here’s How To Manage Your Business

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by Tonya Marie Towles, Founder and Owner at PCS Pro

Moving for the military can be extremely stressful, and stress levels can heighten when you manage your own business while making a military move.

To prepare for your move, you may have an entire checklist detailing everything you need to do to make the move successful and seamless — for you and your family. The items on your list may include notifying your clients of your location change, hiring a military real estate agent, booking movers, and more.

If this is your first time moving for the military as a business owner, there are a few essential things to keep in mind beyond the basics.

1. Know how to get compensated for lost or damaged property.

Sometimes during a big move, property gets lost or damaged in the transition — including items important for the success of your business. The numbers of your transportation service provider, your local transportation office, or your branch of service’s military claim office can prepare you if that situation occurs. Fortunately, you can make a claim for lost or damaged property and may even be entitled to the total cost of repair or replacement. Having the right numbers on hand will ensure that a situation like that will be handled quickly and get your business back on track as soon as possible.

2. Have the right items on-hand during your move to run your business in transit.

If you are able to run your business during the move itself, it’s important to know which items you will need in transit — the items that the movers should not pack. You have probably deduced that you will need clothes and toiletries during your travels but remember to also include important documents and items that cannot be easily replaced, such as a folder with business documents and copies of your identification. You should also include any legal documents detailing your company’s incorporation, ledgers, and other important paperwork. If you manage your business from a computer, make sure your work laptop is always in your vehicle with you. Knowing you have these items will remove any unnecessary stress during the move.

3. Plan time off to prepare your home for sale.

One of the most challenging parts of a military move can be selling your home. As time-consuming as your business may be, plan to take off work a few days or weeks to prepare your home for the sale. Take some time to find the right military real estate agent who can make your home stand out in the market. Ensure that your home is “show-ready” by dropping your pets off at a friend’s house during open houses. You may also consider making inexpensive upgrades to add value to your home and landscaping the front exterior. The more prepared your home is for listing, the faster you will attract potential buyers. With the right preparation, selling your home can be one of the most manageable items on your military move to-do list.

If you are about to make a military move as a business owner, the right planning and preparation can help you minimize the risk of anything going wrong. The time to start planning your move is as soon as you are aware it is happening. By preparing for the unexpected, having the right items on hand, and hiring a top-notch military real estate agent, your move will surely be a success!

 

Tonya Marie Towles is Founder and Owner at PCS Pro. PCS Pro is comprised of military spouses and veterans who are passionate about helping fellow military families and service members find their next home. They are familiar with the entire PCS military process and strive to help their clients navigate the process with as little stress as possible.

 

Can A ‘Trained Monkey’ Sell For Your Company? No Way.

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by Steve Weinberg, author of “Above Quota Performance“

I once had a CEO who told me, as Vice President of Sales, that he didn’t understand why he employed a highly compensated salesforce. He said all he needed was a team of “trained monkeys.”

I think he was half-serious. He knew that he could not hire a trainer and send monkeys out on the road to call on executives at Fortune 100 companies. However, looking at commission reports, it is likely he believed that the product he helped design was so rich in features and functionality, that it could “sell itself.” (I once worked out the ROI on salespeople for him and found that if everybody achieved only 60 percent of their quotas, he would break even.) The CEO had accompanied salespeople on sales calls and closed several sales on his own, buyers were usually pleased about the product and impressed that the CEO was calling on them, and since the sales closed, he thought selling his product was easy.

I dismissed his comment as not being serious. But he repeated it to me on several occasions during the time I worked for him. The reality is that now, more than ever, companies need highly skilled salespeople. The need is greater than it was a few years ago, and salespeople need to step up their skills to be successful in today’s highly competitive environment. A trained monkey could entertain an audience, not sell them.

The sales landscape today consists of very knowledgeable buyers who are armed with more information than ever and have done hours of research before sellers arrive. They limit the amount of face time that sellers receive, going from several face-to-face meetings to, more typically, just a few shorter meetings over videoconference. Competition, including the do-nothing decision, is fiercer than ever. In addition, many companies now have included procurement or strategic sourcing experts in their most rigorous selection process, and especially in contract negotiation, to assure themselves of supplier due diligence and better contract terms. And buyers now want sellers who promote company social responsibility (CSR) and what is termed “ethical sourcing.”

Among other capabilities, salespeople selling complex products now need to:

  • Demonstrate greater expertise of the products and industry to the buyer; to tell the buyer something they don’t know.
  • Gain an understanding of the problems the buyer wishes to fix through both open and closed-end questions.
  • Succinctly articulate the value proposition – what is in it for the buyer?
  • Be viewed as a trusted partner by the buyer, not an obtrusive salesperson, by demonstrating empathy throughout the sales cycle.
  • Be current on digital marketing technology.
  • Do a better job of qualifying buyers to eliminate those who will not buy now, or are not in the product’s “sweet spot” and will be a waste of time.
  • Have business acumen and an outstanding understanding of business terminology.
  • Be agile and adept. The sales cycle will rarely go as planned. Your time with the buyer will be more limited.

These superior sales skills will normally take years, not months or days to develop. Top-quality skilled and higher achieving salespeople need to be considered as valuable assets by executive management. Their job performance is critical for the company to achieve its growth goals. A strategy of employing lower-paid and barely competent salespeople is doomed to failure. Selling today is no longer a “smile and a shoeshine” job.

Trained monkeys may be able to do some routine tasks, like putting small items into boxes. But trained monkeys to sell for your company, no way!

 

Steve Weinberg

Steve Weinberg is an expert at building, guiding, and sustaining high caliber sales teams, and creating exemplary standards in account management. He has over three decades of leadership experience in sales, including Vice Presidencies at Dun & Bradstreet Software, AC Nielsen, Solcorp, and Deloitte and Touche. He is the author of Above Quota Performance (Armin Lear Press, 9/20/2022).

 

3 Tips To Make The Most Out Of Your Co-Working Space

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What’s the first thing that comes to mind when you think of your co-working space or a smart office? Do you picture rows upon rows of desks, home to various startup projects and businesses? If you’re like most people, that might not be quite what you envisioned.

Fortunately, there are plenty of ways to make the most of your time in a co-working space – here are three tips to help get you started!

1. Research your options.

If you’re looking to start a co-working business, finding an affordable space for your clients and employees is likely your main concern. Fortunately, many of today’s startups are deciding to use co-working spaces rather than renting expensive office spaces of their own. Because of that, demand for spaces like these has grown rapidly over recent years and there are now many different options out there if you want to make one part of your business plan.

Before you sign on any dotted lines, however, it’s important that you do some research into what kind of co-working space would be best for your clients and employees—and then how much it might cost. For example, will you need conference rooms and desk booking? Will they come with a projector? What about Wi-Fi access? Knowing exactly what each space offers will help you figure out which option works best for your company.

2. Try it out before you commit.

If you’re thinking about using a co-working space, there are plenty of things to consider before you sign on that dotted line. Can you get in? What time is it open? Is it close to where you live or work? Do they have space available at all times, or just during certain times of day? Check out what one of these spaces is like in person first (you can even ask for a tour!) so that when you’re ready to commit, you can feel confident that it will fit your needs. You never know if your favorite workspace has been taken by someone else already!

3. Balance socializing with productivity.

Try to keep a balance between getting your work done and socializing. You don’t have to be antisocial—in fact, it can be productive to network with others in your industry. Just limit time spent on small talk and aim for quality conversations over quantity ones.

Remember, when working out of a co-working space you have access to other professionals — take advantage of them! Don’t feel like you need to get everything done at once: With all of these great amenities, sometimes people feel pressured to get as much done as possible during their office hours. However, that isn’t always necessary or realistic.

If you find yourself without an internet connection or stuck on a problem that requires more focus than usual, take a break from your desk and do something else instead (if possible). It will help keep you sane while still allowing you to make progress toward finishing projects.

Be respectful. No one wants to sit next to someone who is constantly talking on their phone or yelling across the room at coworkers. Respect everyone else around you by keeping noise levels down so everyone can get their work done efficiently.

 

Shipping Box Selection Guide: Why Size, Shape, And Strength Matters

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shipping box packaging

shipping box packaging

Have you ever had a delivery go wrong and found your items ruined during transportation? If you have, you can attest to the disappointment and might realize that the shipping box might have been weak and of the wrong shape and size.

So, when shipping any item, whether small or big, it might need to be moved over long distances and in a truck. And with all the elements facing your shipping box during transportation, it’s important to choose the right box.

But with the numerous sizes and strengths, choosing the right option that fits your items can be challenging. So, to help you understand why size, shape, and strength matter, discussed below are some main reasons:

Size And Shape.

The first place to begin when looking for a shipping box is to determine the right size and shape that works best for you. The size and shape of your box play an important part in protecting the goods and products.

Different boxes cater to the size and shapes of your items, including standard, corrugated, tall, rectangular, and retail boxes, among others. So, when choosing the size of your shipping box, settle for the right size.

The following are reasons why the size and shape matter during shipping box selection:

Shipping Costs.

When shipping a box, you can attest to the costs of it. Luckily, there are ways to cut down on shipping costs, with the main one choosing the right shipping box size and shape.

Having the right size and shape will reduce the void inside them that normally requires filling to protect the product. If you choose to use any type of crumpled paper, you might realize they add weight which translates to higher shipping costs. If you want to ship products of different sizes or shapes, get various boxes in different sizes.

Better Protection.

Product protection is vital when it comes to shipping. And one factor boosting the protection of different products is the right size and shape of the box. For instance, if you choose a shipping box larger than the product, there’ll be an excessive amount of void space increasing the movement of a product, which might lead to potential damage.

Choosing the right size and shape also includes getting a shipping box that’s customizable in a way that it can adapt to the depth, folding sides, and cutting corners.

Customer Satisfaction.

If you’re a business owner who does a lot of shipping, you might have noticed the shift in customer appreciation of going green and less waste. As a result, getting the right-sized box will reduce the excess packaging needed to fill voids.

Once customers get their products, they’ll realize you care about their and the environment’s needs. Chances are, the right-sized packaging leaves a lasting impression that has a positive effect.

Strength.

Strength is another factor affecting shipping box selection, and understanding how to go about it is vital. The first thing to do is to get a box that can accommodate the size and weight of the product, especially during transfer and delivery.

Using the edge crush and Mullen tests, you can measure your box’s strength. The following are some reasons why strength matters when it comes to shipping box selection:

  • Better Protection

Products in transit undergo harsh handling and puncturing from sharp objects. Additionally, weak boxes tend to tear, collapse, and split at the bottom when carrying heavy items.

So, when getting a shipping box, you need to settle for one with extra protection, and that’s ideal for shipping bulky objects. One great option is double wall boxes that offer durability as they’re designed to make shipping fragile items much easier.

In addition to protection, stronger boxes allow you to add more items without tearing them apart. So, eventually, you’ll be saving more money and space by reducing the number of boxes required.

  • Customer Satisfaction

Clients are guaranteed to appreciate sturdier shipping boxes they can reuse for storage. So, by getting stronger options, you’ll be showing your clients you care about the safety of their products and the environment.

Bottom Line

When shipping products over long distances, the box’s size, shape, and strength play a huge role in protecting your client’s products. Since your products face a lot during transit, including being poked and rough handling, you need to ensure they can get delivered in one piece. Hence, you need to pay attention to all the factors contributing to the safety and price of shipping. Consider the ideas mentioned here as you plan and prepare.

 

Finding Your Role As An Inclusive Leader

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by Jennifer Brown, founder and CEO of Jennifer Brown Consulting and author of “How to Be an Inclusive Leader: Your Role in Creating Cultures of Belonging Where Everyone Can Thrive”

Over the past several decades, companies have invested heavily in DEI programs and initiatives. Yet most programs that exist today are still focused on compliance and performative actions, are siloed in HR departments, and lack the commitment and involvement of senior leaders. Few are designed to shift systems or address the patterns of exclusion, oppression, and disadvantage underrepresented and marginalized groups continue to face in the workplace.

To build a more inclusive and equitable future, leaders in positions of power and influence must play an active role in disrupting the status quo. The hard truth is that, with a labor market that’s becoming more competitive and more diverse, leaders who aren’t making an effort to become more inclusive, accountable, and equity minded will be left behind. Yet I have found that most leaders are still holding back.

In my twenty years of DEI work, I often encounter three types of leaders. I have worked with some leaders who really get it, who grasp the extent to which the playing field is not equal, and who understand that they have a role in fixing that. They lead with purpose and are on the front lines of challenging inequities and changing systems. When we work with leaders like this, we can dig in and get right to work.

Then there are other leaders who have awakened to the realities of the world around them but are reluctant to get involved. Many don’t do anything because they’re afraid of making a mistake, of getting it wrong. This is new territory, and they don’t feel like they have the right words or vocabulary to step into the conversation. They are not even sure if they are welcome. So they stay on the sidelines and their lack of action maintains and protects the status quo.

And there are still too many leaders who just don’t understand the depth and impact of the inequities that surround them. They don’t see what any of it has to do with them. With these leaders, I can’t count how many times deflections fill the room when I start to talk about DEI and why it matters. These are just a few that are verbalized:

  • People need to stop being so sensitive.
  • I’m buried — I don’t have time to prioritize this work.
  • I prefer to see past race and gender — we’re all just people.
  • We did unconscious bias training, so I don’t think we have any major issues here.
  • Are you suggesting we should have quotas?

I think of these as deflections because they aren’t genuine curiosities about the way forward; they are barriers and distractions that are often raised to obscure or delay responsible action. But being unwilling to look clear-eyed at the dramatic changes around us — in our colleagues, in our professional landscape, in global markets — is a classic tactic of avoidance.

Don’t get me wrong — I don’t think of these types of leaders as bad people. But I do think many people who are in leadership roles probably have no idea what many of their colleagues are going through at work since the experience is likely vastly different from their own reality. And because they don’t understand the problems people with other identities experience, they aren’t able to take the brave and necessary leadership actions needed.

When the world around us looks like us and is designed to work for us, it can be hard to grasp the extent to which the playing field is skewed in our favor. For those who have more privileged backgrounds, it can be easy to dismiss or downplay the experiences and outcomes of people who’ve been historically marginalized and underrepresented in a given system. The truth is, privilege can be invisible to those of us who have it.

The reality is that biases and inequities have permeated just about every aspect of the professional world, from decades (if not centuries) of pattern build-up. This is not a problem that will just go away if we all think good thoughts or avoid facing the truth about the systems around us. As the ground rapidly shifts under our feet, our inability to see the once-in-a-generation opportunity for change is a liability for all of us. Our future impact — and legacy — depend on how we step up during this moment.

The unwillingness to look at what needs to change and how we as leaders can contribute is a missed opportunity to evolve, to trans- form, and to equip ourselves to build something that works for more of us — and that will benefit all of us.

Unfortunately, no business strategy, including DEI, will deliver optimal results if individuals with power and influence are disconnected from that strategy. If the very people who are in the position to make change happen are unaware there’s a problem, in denial that inequities exist, or throwing their hands up about the supposed complexity — or cost—of fixing the problem, we will never scratch the surface of what’s possible.

The arc of the moral universe is long, but it bends towards justice. — MARTIN LUTHER KING JR.

I have always found this quote by MLK inspirational. In the midst of confusion, overwhelm, and uncertainty about our increasingly chaotic world, it gives me hope that an inevitable shift toward a more just world is possible, where all people are treated equitably and respectfully. But most of all, I don’t believe his words condone passivity or inaction, for any of us.

It used to be enough for me to take solace in MLK’s words, but because I’ve been focused on building more inclusive workplaces now for nearly two decades, I’ve come to realize a hard fact: just a relative few of us are doing the lion’s share of the work to bend the arc.

The pressing question this leaves us with is, who’s missing from the change team, and why?

Historically, DEI programs have been centered around the needs of marginalized and underrepresented employees and addressing the barriers and inequities these groups experience. Although unintended, the impact of this focus has distanced many people in leadership positions from understanding their potential contribution and role in DEI efforts.

For the most part, it is members of marginalized communities who take up the mantle to do the work of challenging discriminatory practices and systems. But every time we automatically turn to the woman, the Black or Brown leader, the person with a disability, or any other individual belonging to a marginalized community to take responsibility for identifying and addressing organizational inequities, we are abdicating our own role and responsibility. This needs to change.

Each of us must begin to take responsibility for the roles that we can play, especially if we hold positions of privilege, power, and influence but have been passive or inactive. We may not have been directly affected by inequities; we might feel it’s not our fight. But this in itself is a privilege: to have the choice to remain on the sidelines in the fight for equity while others struggle.

Whenever my company begins work on an organization’s DEI strategy, we insist on working with top leadership. When it comes to disrupting the status quo and creating equity in the workplace, much power lies with leaders who set the standards and tone for everything from who gets hired and who advances to what the workplace culture looks like. We understand that without their buy-in and personal involvement, our efforts will have more limited impact and will be more difficult to sustain. The reality is, leaders are an influential employee group in the workforce to drive real change.

As leaders, we can’t sit back and wait for the arc of history to bend by itself or keep expecting others to put their shoulders to the wheel. If we want a more just world, one in which the playing field begins to equalize, we need to grasp the urgency of our own role and responsibility to bend the arc. We have to do our part, and we still have a long way to go.

*Reprinted from How to Be an Inclusive Leader, Second Edition with the permission of Berrett-Koehler Publishers. Copyright © 2022 by Jennifer Brown.

 

Jennifer Brown (she/her/hers) is an award-winning entrepreneur, speaker, diversity and inclusion consultant, and best-selling author. She is founder and CEO of Jennifer Brown Consulting (JBC), and is a sought-after keynote speaker for executive leadership on the topic of leading inclusively in uncertain times. She sits on the Influencer Advisory Board for Sparks & Honey, as well as L’Oreal’s Global Diversity and Inclusion Advisory Board.

 

6 Key Steps To Developing A Successful Marketing Strategy

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The mantra of the 21st century has consistently been work smarter, not harder, and in the field of marketing, having an effective plan is the best approach to achieving this goal. Many organizations want to go right into the mechanics of creating a marketing plan without first setting the groundwork. But as the phrase goes, without first understanding where you’ve been, it’s impossible to know where you’re going.

Think about your previous marketing initiatives — where they succeeded and where they failed. Always remember that the current method may not be the ideal one; techniques you haven’t tested yet have untapped potential.

So where to start? It may seem like a challenging endeavor for people coming into the business, but it is actually a very logical process. What should your marketing strategy’s opening move be?

Well, the industry doesn’t have a definitive response. However, you may imitate the actions of more seasoned marketers. The two primary factors influencing a marketing strategy are external factors that your company must take into account and internal factors that you can handle internally.

By directing the variables you can control and adjusting to those you can’t, you’ll create a marketing plan that will hold strong. In this article, we will cover the 6 key steps to creating a formidable marketing strategy. So, read below to learn all about them.

Set Up A Marketing Plan

We suppose the first reaction would be hold on, I need to plan for my strategy. Isn’t it the same? Actually, it isn’t. Your marketing strategy gives a broad overview of the justifications for the activities, goals, and resources your marketing team will need to take during the year. The particular steps you’ll take to implement that approach are in your marketing plan.

All the top marketing agencies stress the importance of a marketing plan, so you should learn from them and draft a marketing plan before you begin your quest. If you’re having trouble on this part, you can always turn to a marketing agency to do the heavy lifting for you and go from there.

Create a marketing plan that details how you’ll implement that approach and assess its effectiveness. For you to be able to react swiftly to changes in consumer requirements and attitudes in your business and in the general economic environment, the plan should be continuously evaluated and, if required, modified.

Segmentation Of Your Customers

The next step is the segmentation of your customers. Your current and future consumers might be divided into several categories or segments based on their needs. One of the most important components of your marketing plan should be identifying these groups and their demands through market research and market reports, and then effectively meeting those needs in comparison to your competitors.

Target Your Desired Customers

Your main intention should be to sell to the market segments that will generate the most revenue. Your products or services must satisfy the needs of your intended target market. So identify your target market and concentrate on your most lucrative clients.

Making the most of your advantages and matching them to the demands of the clients you wish to serve should be the focus of your marketing plan. For instance, if a specific consumer segment prioritizes quality over all else, all marketing efforts directed at them should highlight the excellent quality of your offerings.

Do a Strengths, Weaknesses, Opportunities, & Threats (SWOT) Analysis

An assessment of the internal and external elements affecting your company’s position in the market is provided by a SWOT analysis. What you can modify and embrace at your organization will be shown by your strengths and shortcomings (internal). Your external opportunities and risks will help you implement your marketing plan while protecting it from outside influence.

Set Out Promotional Strategies

After developing your marketing strategy, you must choose which marketing approach will guarantee that your target market is familiar with the goods and services you provide and how they satisfy their needs.

This may be done in a variety of ways, including through different types of advertising, exhibits, public relations, internet marketing, and a successful point of sale approach. To prevent stretching your money too thin, try to restrict your actions to the strategies you believe will resonate with your target audience.

Study Your Competition

Competition is fierce in every field, so to be able to stand apart you will need to promote your company more effectively than everyone else. Your competitor analysis should concentrate on how your competition interacts with customers online, however, you may get inspired by looking at another website or brand. What specials are they providing? What tactics have they utilized?

In general, this stage can assist you in discovering what others are doing well as well as any gaps (also known as opportunities) that may exist in the market.

Final Thoughts

Spending money on marketing techniques without a strategy is a waste. Your company might never achieve the success it deserves without a clear road map and a path to get there. It is impossible to overstate the importance of a marketing strategy. You should waste no time if you don’t have one. If you have one but haven’t used it, do so right now. Reconsider your approach if your present plan isn’t working. You may cut through the clutter and soar to success with the aid of a strong marketing strategy.

[Image by Gerd Altmann from Pixabay]

 

What Entrepreneurs Need Most, But Nobody Talks About – And How To Get It

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by Steven Myers, author of “Cross Winds: Adventure and Entrepreneurship in the Russian Far East“

Grit, sacrifice, hard work, vision… There’s no shortage of advice on how to develop any one of these attributes crucial to entrepreneurship. Yet, little is said about the one thing all entrepreneurs must have if they’re going to succeed:

Courage

As a four-time CEO of public and private companies, the founder of one of the first post-Soviet era joint ventures, and the first American since Charles Lindbergh to pilot an aircraft into the Russian Kamchatka peninsula (1992), I’ve seen that courage is the one thing that matters most in success as an entrepreneur, or any other endeavor in life for that matter.

What every hero, explorer, adventurer, warrior, first responder, pilot, athlete, and entrepreneur all have in common is the extraordinary ability to push through the uncertainties of their situations to achieve success. This is what courage truly is. In some cases, it even extends to sacrificing one’s life along the way.

Where does the courage to take these actions come from? How can entrepreneurs use it to achieve great things?

The truth is that most entrepreneurs fail, and for very good reasons; lack of preparation, confusing an opportunity with a mirage, an idea that couldn’t hold up to competitive market pressures, poor macroeconomic conditions leading to undercapitalization or excessive costs, or just bad timing. Merely facing this reality takes courage. Yet, even if all of these factors are working in your favor, you still have to summon the courage to make the commitments needed push through the uncertainties inherent in entrepreneurship. You certainly won’t have all the answers. You’ll have every reason to be afraid because everything will be on the line. Without courage you won’t be able to push the button and make the right decisions at the right time.

Courage is not just about accepting risk. Risk is measurable with the ways and means of determining if they are acceptable or can be mitigated. It’s the residual unknown unknowns of situations, the uncertainty of situations that can be terrifying. Most people simply can’t tolerate uncertainty. Tony Robbins observed that most people would prefer to live in mediocrity than take the actions they could take to significantly improve their lives, even if the better outcome was virtually certain. Their fear paralyzes them. They are pessimists. And it is highly contagious. Conversely, people with courage are invariably optimists. They find a way to push through their fears, their doubts, and the uncertainties of their situations to accomplish what they must.

My story of courage began at the bottom of a mountain crevasse, where at 20 years old I was left for dead, after a terrible fall during a mountain climbing trip. The fall should have killed me. At least thirty feet before hitting anything. Miraculously, my final landing pad had been the only flat rock around. I had a fractured pelvis, bleeding from a compound fracture to the right arm and forehead gash, and more.

Worse, I was suffocating. “If I could just figure out how to get one breath, just one, maybe I could figure out how to survive,” I thought. Eventually, I began breathing. By the time I could move around a little, I was going into shock and hypothermia. I realized that my friends assumed I was dead. There was no way to reach me. I gave myself first aid, stopped the bleeding, and made a sling for my arm. With one hand, I dug a pit in the gravel and buried myself in my sleeping bag to conserve heat.

By sunrise I was freezing and desperate to get into the sunlight. I spent all morning crawling through gravel and rocks looking for a place I might be able to climb up and out from. The spot I chose was not anything a sane person would attempt. I was out of options. I began slithering up the side of the crevasse wall with one arm and legs that could do little more than support my weight, one very short step at a time. Any misstep would have been the end of me as I held on only by the fingertips of my left hand. Hours later, sitting on a rock in the sunlight, looking down-slope to the tree line, and the beautiful terrain beyond, I felt invigorated. I knew I would survive.

The following day, very stunned rangers on horseback ran into me hobbling very slowly down a narrow trail using a crutch I had fashioned from a forest tree branch. They hadn’t thought it was a survivable situation. They were coming up for my body.

As I lay in the hospital ICU the following day, I realized that it had never occurred to me I wouldn’t survive. That’s not to say that I wasn’t afraid. The experience was as terrifying as it sounds. But my entire focus had been on what I needed to do next to survive. I had discovered at the bottom of that crevasse my innate sense of optimism and came out of that crevasse with a purpose, a plan, and a mantra… “The cornerstone of courage is optimism.” My life was never the same.

While I don’t suggest an un-survivable experience as a practical approach to learning about courage, here’s what my personal experience has taught me that may offer all of us a useful strategy for finding the innate courage within:

Acknowledge your fears

We all have fears. Make a list of what you are afraid of. This might require some soul-searching: maybe you’ve never really thought about what frightens you before. It could be roller coasters, tall heights, airplanes, caves, snakes, spiders, white water rafting, etc. Whatever you’re afraid of, write it down. Prioritize a top ten list.

Confront your fears

Create a plan to confront your fears and anxieties for each. If you’re afraid of airplanes, arrange a private flight where you can sit in the copilot seat. If it’s roller-coaster rides, head to an amusement park and climb aboard.

By confronting your feelings of fear and discomfort, you may come to realize that a normal response to fear is to create the illusion of control. Your mind pretends that you’re able to make the world small enough for you to feel safe.

Taking prudent precautions is always a practical way to reduce risk. But, thinking that one seat on an airplane is somehow safer than any other is a good example of fear masquerading as control.

Ask yourself why you’re afraid

This requires some introspection. Start to notice when your choices are being shaped by fear, and pause to ask yourself what, exactly, you’re afraid of. Ridicule? Discomfort? Physical harm? Failure? Imagine the worst-possible scenario in each case and consider how likely that really is.

Practice venturing beyond comfort zone

Look for opportunities to get out of your comfort zone and experience the things that trigger fear. Start small and keep at it. Courage is like a muscle: the more you challenge yourself to do things that frighten you and let go of the illusion of control, the more courage you’ll build.

A famous Churchill saying goes that the pessimist sees the difficulty in every situation while the optimist sees the opportunity in every difficulty.  Most people know which they are. Some people characterize themselves as “realists.”  I think of them as pessimists with a positive attitude. Successful entrepreneurs are pathologically optimistic. If you’re not an optimist, maybe think about not being an entrepreneur and, instead working with one. Perhaps as the CFO or the COO. Successful entrepreneurs need pessimists and realists to work with to keep us from running off a cliff. I’ll be forever grateful to my COO and CFO for the positive impact their natures made on me.

 

Steve Myers

Steven Myers is a successful four-time CEO and serial entrepreneur, director of public and private company boards, public speaker, published author, accomplished aviator, and two-time Air Force veteran. His private equity investment company, Dolphin Capital Holdings, Inc., has interests in a broad array of enterprises. He is author of “Cross Winds: Adventure and Entrepreneurship in the Russian Far East“.

 

Today’s Children Need Coding Class To Lead Tomorrow’s Tech

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Modern technology is so advanced that devices people use every day without much fanfare would have blown the minds of people living just a decade ago. It’s difficult to overstate the extent of the advances and how quickly it’s grown.

That’s why it’s hard to get a clear picture of exactly what the future of technology will look like, even though digital technology will undoubtedly play a huge role. Parents everywhere who don’t want their kids to be on the sidelines are enrolling their children in online coding classes today.

Before you pick a coding program for your child, keep the following things in mind.

Lessons Should Be Fun

All students learn best when they’re enjoying the material. The last thing an educator wants to do is make their subject too dry or heavy for kids and turn them off the subject before they have a real chance to absorb the lessons.

The best online evening coding classes revolve around how to build video games, so kids are excited about learning. Children are genuinely enthused about games, especially video games, and learning how to design their own becomes their own type of game.

Even better, the lessons have gamification concepts built into the pedagogy, so kids are as addicted to learning to code as they are to playing video games.

Small Sessions

It’s hard for students of any age and subject to learn course material in a noisy, disruptive environment. The fewer students there are, the easier it is for teachers to provide a calm and constructive classroom.

Ideally, your online coding class should have a maximum of four students per teacher, so each pupil gets the attention they deserve without having to shout over classmates. Also, be on the lookout for a school that runs sessions without a minimum requirement—you don’t want your child to get excited for classes only to learn the program was cancelled because not enough students signed up.

Kids and parents will appreciate the predictability after the last couple of years without it.

Important Coding Languages

General computer skills are good, but it’s even better when kids know how to program using the specific coding languages powering the most popular apps, websites, and video games today. Not all languages are equally important.

Stay on the hunt for a coding program that teaches important coding languages industry professionals regularly use, such as:

  • Python
  • Java
  • JavaScript
  • C#
  • C++

Even 6-year-old kids aren’t too young to learn Python! Students can expand their skills within each language before advancing to more difficult ones as they go. The best coding programs have classes catering to all skill and experience levels.

Adults today grew up in a world without cellphones, never mind smartphones. Today’s youth might be accustomed to dazzling devices, but that doesn’t mean they have the computer or coding skills to take tomorrow’s tech world into the future. Look for a program that has all the above features, and your kid will gain the necessary coding skills in a fun and supportive environment.

[Image Credit: Mikhail Nilov via Pexels]

 

Don’t Repeat My Worst Entrepreneurial Mistakes

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by Beth Bell, author of “Angels, Herpes & Psychedelics“

If you’re not currently an entrepreneur, it’s likely that you will be one someday soon. If you’re already an entrepreneur — or a solopreneur — you may be able to write this post yourself! Still, I share some great pearls that will resonate whether you’re just starting your business or it’s already underway.

Coming from a big corporate job in the pharmaceutical industry, I was rewarded for thinking big. In fact, the bigger the better. I had resources to run multimillion dollar brands and 5th Avenue marketing agencies to support me. The teams I worked with and led were composed of highly strategic, out of the box, innovative thinkers.

When I left the corporate world and decided to take my entrepreneurial dabbling into a serious operation, I had no idea what I was doing. It was a big jump. My initial bumps out of the gate were beyond devastating and I still feel grateful to the powers that be that I survived.

Here are my three most glaring mistakes.

Mistake #1 – I allowed my Midwestern beliefs and work ethics to lead the way.

It’s not that I’m saying you shouldn’t work hard, but it’s important to work inspired. Where I tripped up was letting my mind drive my every move and calling it inspiration.

When I moved to Bali, I was gung-ho to turn my life around. I wanted to live my passion and purpose and contribute to humanity. The products I’d been developing through the years were finally ready for putting into the limelight and I was eager to launch them out into the masses on the worldwide web. But the Universe had another idea for me. Although I never intended to open a brick-and-mortar shop, I couldn’t turn away from all the alignments that miraculously and effortlessly happened. After some resistance it became undeniable that a storefront operation was to be part of my calling.

Mistake #2 – I took everything way too seriously.

I was in an emerging country with first world expectations. My standards were so high that only the most skilled individuals could ever meet my expectations. I tried several times to lower my expectations but it created a situation that eventually imploded.

It was hard to recover from the collision and catastrophe that caused. Still, even in the first world these collisions happen when we’re not matching ourselves with the right characters who have the skill sets that can meet our expectations. Which leads into mistake number three.

Mistake #3 – I trusted in people’s potential, not their true abilities.

Be sure you’re not believing in someone’s potential as opposed to where they really are in their skill sets. I learned that everyone has limiting beliefs and issues. Find out what these are right up front by listening to every word and watching every body movement. I’d often see that people weren’t ready, but I thought I could coach them to their potential and help them grow and develop. Oftentimes I learned that they had no desire to reach their potential. And even more often, I was desperate for help, which didn’t help matters.

Making the transition from corporate life to becoming an entrepreneur took more tenacity than I could have ever expected. My hope is others will learn from the ways that I faltered. Thankfully, the mistakes were only hurdles along the way and my business eventually took off.

 

Beth Bell spent 16 years promoting 12 brands in the pharmaceutical industry both nationally and internationally. She later became an international entrepreneur, developing product lines for both eCommerce and a retail store in Bali. She produces and is host of the podcast Psychedelic Sages. Her new book, “Angels, Herpes & Psychedelics“, shares her journey of spiritual awakening and provides a spiritual toolbox others can learn from.

 

Can I Still Buy Life Insurance if I Have Chronic Health Conditions?

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If you have chronic health conditions, there are still several avenues you can take to get coverage.

Getting life insurance is an important step to protect your loved ones in the future — no matter what the future holds. Because life insurance is such an important part of financial planning, it is essential that everyone who has dependents or any outstanding debts purchases a life insurance policy. However, there are a lot of people out there that assume they can’t get life insurance or they will be unable to afford life insurance due to a chronic health condition. 

This is an unfortunate assumption because there are a lot of ways to get affordable life insurance if you have a chronic health condition. Today, we’re going over how you can get the right type of life insurance at the best price even if you have a chronic illness. Plus, we’ll be talking about the different types of insurance that you can explore to get the best possible monthly premium. Let’s get started!

Why Do Chronic Illnesses Affect Life Insurance?

The two most important factors when it comes to life insurance are your age and your health.

diabetes life insurance chronic illness
Having a chronic illness affects your insurance risk class.

When you apply for a life insurance policy, the insurance company will evaluate every aspect of your application to determine your monthly premium. This process is called underwriting. In general, the younger and healthier you are, the easier it will be to get affordable life insurance coverage. If you are older and have a chronic illness, things get a little bit more complicated. When you apply for life insurance, you will likely be required to submit a questionnaire, your complete medical records, and undergo a medical exam. Of course, there are options to get life insurance with no medical exam, but we’ll discuss those in the next section.

Once your application is evaluated, you will be placed in an insurance risk class. Your risk class will determine how much you will pay for your monthly premium. There is also always the possibility that your application could be denied. 

To give you a better idea of how the different types of insurance work when it comes to chronic illnesses, we’re going to be breaking down the most common types of insurance and chronic illness will affect your ability to get coverage.

How Do Chronic Illnesses Affect Different Types of Life Insurance?

When you begin searching for life insurance, you will likely encounter these 4 major types.

taking pills - life insurance chronic illness

Whether you have a chronic illness or not, you will likely encounter these major types of insurance while you are shopping for the best policy. In this section, we’re going to be discussing each insurance type and how chronic illness will affect your ability to get coverage. Let’s take a look!

  1. Term Life Insurance – Term life insurance is a good place to start looking if you have a chronic illness. Term life insurance tends to be one of the less expensive options and will protect you for the designated term. Since you have a chronic illness, expect to pay a relatively high premium. Your monthly payment will depend on the amount of coverage you purchased and the duration of your term. If you are denied coverage based on your chronic illness, then you will want to move on to one of the remaining options.
  2. Permanent Life Insurance – Permanent life insurance is a type of life insurance that never expires. While permanent life insurance is an option for people with chronic illness, they will pay a higher premium than term life insurance for the same amount of coverage.
  3. No Medical Exam Life Insurance – No medical exam life insurance is a great option for those with chronic illnesses. Not only can you avoid the medical exam, you will have a better chance of approval. When you get life insurance with no medical exam, the approval process is faster and will give you a slightly better chance of approval. Even with no medical exam insurance, you still need to submit your health records. So, the insurance company will still know about your chronic illness, they will just be able to approve you without the medical exam. 
  4. Guaranteed Issue Life Insurance – This type of life insurance is only for people who are diagnosed with an incurable illness, are living in a nursing home, or require in-home medical care. Guaranteed life insurance is expensive for the amount of coverage provided. The amount of coverage offered through a guaranteed life insurance policy is relatively little compared to other policies — usually not more than $25,000. This type of policy is designed to pay off remaining debts or provide funds for end-of-life expenses. 

Now that we know more about the different types of coverage you can apply for, let’s get into what you can expect from the application process.

What Should I Expect From the Life Insurance Application Process?

Find out how you can get the coverage you need no matter your health status.

insurance policy
Depending on your health status, some types of insurance will be more likely to approve your application.

When you have a chronic illness, the insurance application process can be nerve wracking. To eliminate some of the surprises associated with the process, we’re going over everything you can expect when you apply for life insurance. Let’s get started!

Step 1: Getting a Life Insurance Quote

The easiest step when it comes to getting life insurance is getting a quote. Getting a life insurance quote only takes a few minutes and doesn’t require your full medical records. In fact, there are some sites that will give you a term life insurance quote in seconds. A quote is an estimate of how much you can expect to pay for your monthly premium, but it is not a guarantee. Once you have your quote, you can move on to the next step.

Step 2: Make Sure You Have All The Information You Need to Apply

This next step is a bit more difficult. In order to apply for life insurance, you need to gather all of the relevant information. For example, you will need proof of identity like a drivers license or a birth certificate, medical records, proof of income, and proof of residence. Once you have all of these documents, you can move on to the next step of the application process

Step 3: Fill Out the Complete Life Insurance Application

Now that you have all of the necessary documentation, you can begin filling out the application for a life insurance policy. In this form, you’ll be asked about many aspects of your life including your hobbies and your occupation. In some cases, your lifestyle will impact your ability to secure life insurance. This is especially true for people who smoke, as using tobacco products significantly impacts your health.

Step 4: Undergo a Medical Exam

This is only a relevant step if you have chosen a regular term life insurance policy or a permanent life insurance policy. If you have chosen no medical exam life insurance or guaranteed issue life insurance then this step does not apply. 

If you choose to undergo a medical exam, you can expect the appointment to last anywhere from 30 minutes to an hour. During the exam, you will undergo a blood draw, be measured for your height and weight, have your blood pressure recorded, and provide a urine sample. In many cases, the medical exam can be arranged to take place in your home.

What Happens if I Am Denied Life Insurance? 

Don’t be discouraged if your life insurance application is rejected, there are still ways you can get coverage!

distressed upset man
If you have been initially denied coverage, don’t give up!

When you apply for life insurance and you have a chronic illness, there is always a chance that your application could be denied. In the case that you are not approved by the insurance company, there are a few steps you can still take to get life insurance coverage. 

The first thing you need to do if your application is denied is to find out exactly why you were denied. It could be due to your chronic illness or other factors that have caused the insurance company to deny your application. For example, if you smoke or have a high risk profession, your application could have been denied for those reasons. 

Next, you should review your application and come up with a new game plan to apply. This could mean doing your research and applying to a different insurance company or applying for a different type of policy. From there, you can apply again with greater confidence. If you were denied, you might consider making some lifestyle changes as well. To use our previous example, it may be beneficial to quit smoking or change careers before applying for life insurance a second time.

If you are truly stumped as to how to get life insurance with a chronic illness, you will want to reach out to an expert. An insurance agent can help you plan to get the best possible coverage. Remember, it is always better to have some coverage then none at all. When you purchase life insurance, you are providing for your family’s future and giving yourself peace of mind.

 

Enhancing Roles And Assuring Job Security With AI And Digital Technologies

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by Raghav Sriram, Global Head – Sales and Customer Success at Vuram.

The pandemic and its economic impact have disrupted people’s operations, leading to numerous challenges, including the Great Resignation wave and over hiring. In this environment, it is essential to extend job security to support highly knowledgeable human workers to manage work that machines cannot handle. Nurturing a supportive eco-system backed by the right technologies is one way to close the skill gaps and ensure job stability while ensuring that business operations are unaffected.

Introducing artificial intelligence (AI) and digital technologies at work is one way to close skill gaps and future-proof operations to improve productivity and work quality, which is crucial for job satisfaction. Automation at work can help employees save time, focus on other mission-critical tasks, and additional upskilling to adapt to the growing market requirements.

Besides, automation solutions free up valuable time employees can otherwise invest in learning and improving work quality. With the digital workforce working alongside humans, organizations must identify areas of improvement to enhance the roles of human workers.

Below are three significant ways AI and digital technologies can improve functions and enhance job security.

Reimagine roles for resilience

Embracing AI for automation can make the roles more practical and remove the burden off employees’ shoulders. For example, consider IT teams. According to a recent AppDynamics survey of 6000 participants, who were global IT leaders, automation has been identified as an essential go-to strategy. Another interesting finding from Tata Consultancy Services states that nearly 46% of IT teams of large corporations incorporate AI into their work portfolios. Humans can perform more efficiently when working with the digital workforce.  With the support of software robots, people can find ways to improve their performance, free up time for upskilling, and carry out functions in a timebound manner.

AI and automation for IT are just the tip of the iceberg, and there are many more roles and use cases. Another interesting example would be in predicting customer sentiment. The new-age customers are expressing their opinions about brands and their experience with those brands on social media platforms and emails. How can an organization understand its sentiments and derive insights when there’s a considerable volume of such unstructured data? This is where AI is needed, combining the power of natural language processing (NLP) and machine learning. NLP transforms the natural human language to machine-readable formats, detects the meaning of the words, and ML identifies the patterns and finally helps detect the customer’s emotions and sentiments.

Enhanced job satisfaction

Contrary to “technology replaces humans”, technology is not an alternative to human employees. Identifying and implementing the right technologies gives a significant advantage for the people at work to perform at unimaginable levels. With the right technology, the organization benefits from resource optimization, reducing wastage, predicting potential risks, and limiting uncertainties.

The advantages of technology integration improve job security and confidence levels of employees, giving them more control over their roles. For instance, hyperautomation technologies have transformed banking, with backend activities benefitting from the highest accuracy, compliance, and speed-to-solution technologies. At the same time, the humans at work can focus on identifying focused and innovative solutions to address customer demands.

Decision-making functions can be enhanced with real-time data, and work can be streamlined by connecting various processes and departments to develop innovative solutions for the market.

One of the relevant examples could be AI-powered enterprise chatbots. In a global, remote/hybrid working environment, chatbots that support multiple languages can greatly boost employees.

Workforce flexibility

Adopting the right technology can address the age-old challenge of workforce flexibility. With the digital workforce, organizations can meet the flexible workforce requirements to handle market challenges without letting go of their people. During the pandemic, the digital workforce managed operations to support front-line workers while most employees worked remotely, ensuring social distancing crucial to saving lives.

With minimal investments compared to infrastructural expansion, production and operational capabilities could be met with automation solutions. With technologies working together under human and AI supervision, the workforce requirements could be expanded and reduced without impacting the people at work, ensuring higher levels of job security and positioning people to focus on qualitative roles that require them to leverage cognitive skills. In contrast, the digital workforce takes over repetitive and complex tasks. Workforce flexibility is also essential to promote learning, inclusion, and innovation culture, allowing the company to progress and address future challenges.

With diverse challenges impacting industries, organizations must focus on making roles impactful and effective to overcome the looming recession and its economic impact. Future-proofing roles will have a long-term effect on well-being and improve the happiness index at work, shaping a healthy and positive work culture and a resilient working environment vital to navigate potential challenges.

 

Raghav Sriram

Raghav Sriram is the Global Head – Sales and Customer Success at Vuram. Raghav has over two decades of industry experience and is based in Sydney, Australia. He is well-versed in BPM, RPA, and low-code application development. At Vuram, Raghav and his team ensure that all the customers have the best experience possible.

 

Revolutionize Debt Management With Payitoff

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Debt management is a topic on most people’s minds these days, especially with the economy slowly getting back to normal but inflation rates soaring. Borrowers are looking for innovative and easy ways to pay back their debt and a solid plan of action. Most borrowers seeking debt management solutions have no idea where to start, so they look to businesses with innovative platforms or apps using the software provided by Payitoff.

Payitoff’s technology can be embedded in a company’s existing platform or app, making it easy for borrowers to access. The embeddable debt tools Payitoff offers help borrowers optimize their repayment plans, which can save them quite a bit of money while repaying their debts, all within the partner company’s app or platform. These money-saving opportunities can come from debt forgiveness, federal loan repayment programs, and better refinancing deals.

Payitoff even manages forgiveness applications and pre-qualifications for refinancing, so participating companies don’t have to be experts in debt management themselves to provide the end user with solid next steps on how to start repaying their debt.

Payitoff’s debt API helps businesses save operational time and costs associating with tasks like verifying payoff amounts and third-party payment capabilities. Meanwhile, their smart debt guidance tools help borrowers learn, save, and enroll all in-app, increasing wallet share, engagement, and customer relationships. It also makes it easy to direct customers to other financial products a company might offer, since the technology works within the existing UX of the client company.

Results from Payitoff’s smart debt guidance tools show how effective the technology can be for participating borrowers:

  • Individual borrowers save on average $240 a month off their loan repayments
  • On average, borrowers save $60,000 over the lifetime of their loans
  • Borrowers have saved a total of over 11 million dollars to date

There are several ways this debt management software can help fintechs, financial institutions, banks, workplace benefit providers, and other financial apps grow and succeed in the future:

Increase customer loyalty

Payiotff’s debt management software is user-friendly and intuitive, making borrowers feel understood and empowered. Since borrowers connect to their loan servicer accounts, Payitoff’s guidance is personalized to their specific circumstances. Additionally, this increases customer loyalty because borrowers take all actions in-app, so the company’s platform becomes a borrower’s one-stop of all things debt management from now on.

Increase share of wallet (SOW)

There are dozens of companies that offer financial solutions for debt management, but not all of them are committed to outcome-based borrower guidance. Payitoff knows that when the borrower is able to save money, they’re more likely to stay on your company’s site and trust your company when purchasing future financial products. This increases the share of wallet for that company.

Third-party payments

The ability execute payments between third parties opens up more payment options for consumers. This could look like an employee benefits platform helping employers match employee student loan contributions, lending services operate smoother with refinancing, and more.

Some key consumer debt verticals where debt management software is beneficial to offer borrowers:

  • student loans
  • credit cards
  • mortgages
  • auto loans and personal loans

Some businesses that benefit from debt management software:

  • Financial Services – increases wallet share and provides lifetime value
  • Lending companies – the software will help improve DTI (debt to income ratios)
  • Workplace benefits – make the employer more competitive with workers because of the incentives they can provide such as student loan benefits or access to smart debt guidance tools

Other benefits of Payitoff are:

  • Experts available to guide you through the process of regulations
  • Connections to loan servicers that are reliable and consistent. Uptimes are 99%.
  • Automated payment capabilities for borrowers and third-party payments
  • Direct digital enrollments for federal programs
  • SOC compliant security that’s audited regularly

The debt management software Payitoff offers can help your company increase profits, wallet share, and customer loyalty through better data, faster approvals, and user-friendly, customizable tools. This is certainly a revolution in debt management.

 

Top Reasons Business Owners Should Consider Learning SEO

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Every business must have an undeniable strong online presence to succeed in the highly competitive world that relies heavily on the internet. Online visibility is vital when designing a website, ensuring you reach target audiences without any hassles and make a lasting impression that outdoes your competitors.

It will benefit companies of all sizes to learn SEO closely, helping them stay afloat in challenging times because they rank organically on major search engines, steadily drawing in potential customers. Moreover, they will not need to always rely on experts, having built their dedicated team of in-house specialists with the proper training.

Here is a list of motivations why you should consider investing in SEO coaching to take your business to a higher level.

Quality leads and better brand recognition.

A majority of business-to-business owners testify that search engine optimization can generate more quality leads than traditional marketing methods, ensuring the visitors are those with a genuine interest in your products or services.

Invariably, there are far better closure rates with legitimate leads, allowing you to make good returns on investment. As more people visit your website, your brand recognition will increase, allowing you to grab a substantial stake in the market.

Measurable results.

A significant benefit of using search engine optimization strategies is that you can easily track the metrics and gauge the effectiveness of the campaigns. It allows you to study the aspects that worked and the ones that did not, making the essential changes in future campaigns to make them more successful.

Saves money.

You do not have to pay to advertise your business using search engine optimization tactics accurately because your site will rank better organically on online searches. Although paid sites rank higher on search engines, most users prefer clicking on the ones with organic rankings.

Optimizing search results is a long-term strategy, but it is a cost-effective way to save you from spending needlessly on paid advertising.

Scope for greater profits.

Customers are more likely to purchase services or products from businesses that rank higher organically rather than paid results because it confirms their authenticity. In short, people do not always trust companies that invest in PPC ads that charge money each time a visitor or potential client clicks on their link.

Consequently, as your website gets more attention and customers increase, you will automatically see a boost in profits as sales increase. In the long run, this consistency can help keep you ahead of the competition in all market scenarios.

Finding a reputable tutor is key.

It is pivotal to rely on an experienced industry expert if you wish to learn SEO accurately and in a short time. Ideally, it is best to bet on professionals with over a decade of experience, providing customized curriculums to diverse businesses, web designers, marketing professionals, entrepreneurs, and individuals interested in the subject.

They offer free trial training sessions, allowing you to determine their capabilities and suitability to your needs. Moreover, they help you put the knowledge you gain in private online classes to practical use by helping you work on your website.

So, if you are interested in growing online and attracting more customers to your website, find established companies that can train you in link building, mobile SEO, on-page and off-page SEO, web design, Google Analytics, social media, SERP ranking, website audits, and a range of other essential aspects.

 

Take Control With Spend Management Software

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Managing your corporate spend is a taxing task for many companies, especially with so many different components you need to address in the process.

However, to make things much easier you should definitely consider implementing spend management software for businesses, to give you a more effective and efficient method of controlling your finances.

Read on to learn more about what spend management software is, and why it’s so important to have in your company.

What is spend management software?

Spend management software is a brilliant business tool used to monitor, evaluate, and control every aspect of you corporate spend.

In every business, there’s likely to be a wide variety of payments and transactions taking place on a daily basis, from almost every area of the company. Therefore, with this large volume of spending occurring, you’ll need an expert tool to help you stay on top of it.

Spend management software will track every single transaction that takes place in your company, as well as providing a range of detailed information analytics on each payment. This can include:

  • The amount of each transaction
  • The recipient company
  • The service/product being purchased
  • The company card used for the payment

Your software will give you a complete birds-eye view of corporate spend on one simple and accessible platform, with everything related to your spending on this central software.

This is essential for ensuring you’ve got a firm grip on how your company is spending money, how cost-efficient you’re being, and how effectively you’re sticking to budgets.

Why is it important to use spend management software?

Spend management software is a highly important tool to include in your business for a vast range of reasons, including:

  • Useful spend controls

Your spend management software will provide you with a variety of spend controls, designed to help you manage how much you’re spending and what you’re spending on.

Depending on the software you choose, you’ll have different spend controls which offer unique features.

For example, one of the features you could use is setting spend limits on your payments. This will allow you to set a specific limit on transactions, and should any exceed this limit, they’ll be automatically prevented and you’ll be alerted of it.

This will help you keep all of your payments within a budget tailored to your company’s needs, and ensure no transactions are out of your control.

  • Faster payment processes

Efficiency is key in every area of your company, especially when it comes to your finances, and spend management software can greatly improve the speed at which you execute various processes within this.

For example, you can implement automatic approval processes in your company, and this will allow for every transaction request that meets specific criteria to be automatically approved by the software.

The exact requirements for the approvals can be set by you, such as a specific transaction amount, spending from certain areas of the company, or purchasing certain services only.

With a faster process in place that executes automatically, it will take away large amounts of time and effort that you can spend more productively elsewhere in the company.

  • Optimal cost-efficiency

Your spend management software can also ensure that you’re optimizing your spending to be as cost-efficient as possible.

You’ll constantly receive meaningful insights which will give you beneficial data on where you can be spending better.

For instance, one of the insights might be data on cheaper alternatives to services you’re already paying for – such as company office resources or online software.

This will help you be continuously aware of how your company is spending money and where you can spend better, so you maintain optimal cost-efficiency throughout the process.

Spend management software is the key to successful and effective spend management for your company, so make sure you choose an expert software, now.

 

Leading On All Legs Of Your Life

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by Jacqueline M. Baker, founder, podcast host, and author of “The Unexpected Leader: Discovering the Leader Within You“

Leadership can often be this seemingly elusive concept that appears to be unreachable and unrelatable. Depending on your life experiences, you may not have had the opportunity to ever see yourself as a leader or to be reassured that you had leadership qualities.

Leaders – especially young leaders have a unique opportunity to eradicate this thinking and start early in seeing themselves as leaders despite their role, position, status or title. This mindset and approach is incredibly important since there is no guarantee that throughout someone’s life they will have access to the support and resources that will enable them to declare that they are a leader and will grow on their journey

By committing to your own individual leadership journey early and consistently, you set yourself up for continual growth and you’re more aware of staying alert for growth and development opportunities personally and professionally.

Here are a few ways to ensure that you take full advantage of your daily leadership opportunities:

Embracing Your Everyday Opportunities To Lead

We often quickly forget what we have experienced and accomplished. We especially forget this when we are transitioning from personal to professional spaces. Consider the activities that you engage in on a day to day basis that actually have very little to do with your job or professional career choice.

  • Planning your annual friends trip
  • Delegating out tasks in your household
  • Engaging in difficult conversations with friends
  • Engaging in the act of listening more, instead of continuously talking

Your leadership growth and opportunities don’t just permeate inside of your workplace. Take the time to remember that you are engaging in leadership activities and refining skills everyday. Give yourself permission to use them both personally and professionally.

The Uniqueness Of You

Have you checked the stats lately? There are about 7.7 billion people in the world. While this number is quite heavy and slightly overwhelming, the other amazing thing about this number is how you fit into it. Even with the billions of people who exist in the world, there is still uniquely only one you.

On your path of becoming a stronger and more impactful leader, resist the urge to attempt to be exactly like another leader or completely copy another leader all together. Because you aren’t like anyone else, copying them exactly will never feel 100% authentic, because it can’t.

While there may be qualities of someone else that you may admire, observe and even adopt, attempting to do something exactly like someone else may leave you frustrated, overwhelmed and unsuccessful.

You can discover more things about yourself and learn to embrace them by taking personality assessments and analysis. These allow you to discover more about you and even make decisions on where you’d like to adjust, grow or redirect altogether. Remember that you are the most qualified and appropriate person to maximize your qualities by uniquely being you. 

The Pitfalls Of Embracing Leadership

While I am committed to sharing the numerous tools and approaches to see yourself as a leader at any level, it is also in your best interest to understand some of the key pitfalls that may surface once you have embraced your role as a leader.

Here are a few of the most common pitfalls to be aware of on your leadership journey:

1. Believing that there will not be discomfort – On your journey of seeing yourself as and elevating as a leader, it will be necessary to embrace new things and new approaches. It will also be necessary to remind yourself that you can do both hard and uncomfortable things.

2. Diminishing your work – Have you ever been complimented or recognized for your work and you simply brushed it off? Perhaps someone said, “great job” and you responded with something like, “oh, that was nothing” or “this only took me a few minutes”?  By self-diminishing your work, you dangerously give other people permission to diminish your work as well. Remember that, “thank you”, is a complete sentence and that by minimizing your own work and efforts, you give other people permission to do so as well.

3. Succumbing to self doubt and imposter syndrome – It’s not uncommon or unrealistic to encounter a bout or several bouts of self doubt. As you’re growing and giving yourself permission to be a stronger leader, you may periodically (or frequently) experience some doubt, some fear and even some questioning of yourself. It is always recommended that you realign, embrace some re-framing techniques and give yourself the right to be human, because you are. And, sometimes us humans may experience the effects of self doubt. This does not mean that we are incapable of being effective and impactful leaders.

Leadership is a key tool that we have the opportunity to utilize. On our journey of growing, elevating and moving in the direction of our goals and dreams, it’s essential that we declare and own our leadership opportunities every step of the way. From being a self leader to advancing to leading others, leading communities and maybe even leading movements, you have a unique opportunity to accomplish amazing things simply by getting started and seeing yourself as an everyday leader.

 

Jacqueline Baker

Jacqueline M. Baker is a speaker, author, leadership consultant and advisor known for her unique approach to modern etiquette and leadership. She is author of “The Unexpected Leader: Discovering the Leader Within You” and “Leader by Mistake: Becoming A Leader One Mistake At A Time”, and also the host of the podcast, Just Start™: From Ideas To Action.

 

10 Types Of Non-Profit Organizations You Need To Know

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by Brett Shapiro, co-owner of GovDocFiling

When you think of non-profit organizations, you’ll likely think of charities. You may think of organizations like YMCA, Feeding America, and Salvation Army. Perhaps, even the Bill and Melinda Gates Foundation. 

However, “non-profit” is not necessarily another term for charities. Even though all charities are non-profit organizations, all non-profits are not charities.

There are many different types of non-profit organizations. The common factor, though, is that all non-profits work towards some social cause. That’s why the IRS has exempted them from paying any taxes.

Do you wish to start your own non-profit? If so, knowing about different types of non-profit organizations can help you select the right organizational structure for your non-profit.

Read on to learn more about different types of non-profit organizations.

10 Types of Non-Profit Organizations You Need to Know 

Starting your own non-profit organization can be an impactful and fulfilling way to pursue a social cause and serve the community. 

There are nearly 27 different types of non-profit organizations, according to the IRS. We’ll discuss 10 of the most common ones.

1. Charitable Organizations.

Charities are perhaps the most popular type of non-profit organization. They come under Section 501(c)(3) of the IRS.

Organizations that fall under this section are funded mainly through government grants and charitable donations.

The most popular charitable organizations are the ones that deal with providing education, relieving hunger, and animal welfare. 

Some examples of charitable organizations include Habitat for Humanity, Feeding America, and National Geographic Society.

To start your own charitable organization, you must first check if your charity qualifies under Section 501(c)(3). You must also incorporate your charity and apply to the IRS for an exempt status. 

Now, incorporating a business requires some legal know-how. That’s why it’s best to engage the services of an organization like Incfile that can help you start your non-profit. Here is GovDocFilling’s Incfile review to help you assess if it is the right move for you.

2. Social Welfare Organizations, Civic Leagues, and Employee Associations.

Social welfare organizations, civic leagues, and local employee associations are some types of non-profit organizations that come under Section 501(c)(4). These organizations usually promote social or political initiatives. 

These organizations aim to look after the general welfare of their members or those who have fallen on hard times.

A few popular organizations under Section 501(c)(4) are AARP, ACLU, and NAACP.

3. Social Advocacy Groups.

Social Advocacy Groups also come under Section 501(c)(4). These organizations mainly focus on lobbying and promoting political or social change.

Social advocacy groups organize many fundraising events to raise money for the causes they support. They may also use these funds to lobby political organizations or educate the public about these causes.

Examples of social advocacy groups include National Organization for Women, Greenpeace, and Planned Parenthood.

4. Labor, Agricultural, and Horticultural Organizations.

Section 501(c)(5) of the IRS includes labor, agricultural, and horticultural organizations. These non-profits work to improve working conditions in the labor, agriculture, and horticulture industries. They also educate the people employed in these industries.

Funds are raised through donations and union dues. However, they may also engage in political lobbying.

Some examples include Sunset Empire Orchid Society, United Steelworkers, and National Education Association.

5. Business Leagues, Real Estate Boards, and Chambers of Commerce.

Such non-profit organizations fall under Section 501(c)(6) of the IRS. Their goal is to advance the business interests of their members. 

They may also offer instruction services and programs for the benefit of their members. Additionally, they work to improve the overall working conditions in the industry.

A few examples of such non-profit organizations are American Bar Association, National Hockey League, and National Writers Union.

6. Social and Recreational Clubs.

Did you know social and recreational clubs are also non-profit organizations? You can file for them under Section 501(c)(7). The purpose of these organizations is to organize social and recreational activities for the enjoyment of their members.

These organizations include cultural clubs, hobby clubs, sports leagues, country clubs, and more. For funds, they rely on membership dues or fees.

Delta Sigma Theta, Inc. and Boca West Country Club are popular examples of such non-profit organizations.

However, to start your own, you must first ensure that you meet the necessary requirements of Section 501(c)(7). 

There’s more. You will also need to draft your Articles of Incorporation and apply for tax-exempt status. 

7. Fraternal Beneficiary Societies and Associations.

Fraternal Societies fall under Section 501(c)(8) of the IRS. These non-profit organizations provide benefits and payments for life, accidents, sickness, and other scenarios for its members and their dependents.

To qualify under 501(c)(8), these organizations must have parent and subordinate organizations.

Foresters Friendly Society, Shriners, and the Knights of Columbus are popular fraternal societies in the US.

For setting up your own 501(c)(8) organization, you must file Form 1024 with the IRS for tax-exempt status. But before you do so, you should also apply for an Employer Identification Number.

8. Voluntary Employees Beneficiary Associations.

These non-profit organizations come under Section 501(c)(9). All members of such organizations either have a common employer or membership in the same union.

The goal of these types of non-profit organizations is to support and provide payment to members and their dependents in unfortunate events, such as accidents or sickness.

Walmart Stores Inc. Associates’ Health & Welfare Trust and Wells Fargo & Company Employee Benefit Trust are examples of employee beneficiary organizations.

9. Mutual Insurance Companies or Associations.

Mutual insurance companies, under Section 501(c)(15), are generally owned by policyholders. The goal of these non-profit organizations is to provide insurance at cost to their members.

Any profit earned by the company is used to reduce policy costs or given directly to its members. It helps to optimize employee spending with maximum employee benefits.

South Florida Dentists Insurance Trust and Big Sky Farm Mutual Insurance Company are a couple of examples of such non-profits.

10. Supplemental Unemployment Benefit Trusts.

These types of non-profit organizations support and provide payments to individuals who have lost their jobs. Supplemental Unemployment Benefit Trusts come under Section 501(c)(17).

These trusts can either be formed by the employer or the employees. The funds they raise cannot be used for anything other than paying unemployment benefits.

Electrical Industry Supplemental Unemployment Benefits Fund and Builders and Contractors Supplemental Unemployment Benefits Trust are two examples of such trusts.

Final Thoughts

If you want to start your own non-profit, you’ve got to know its various types before taking the plunge. You can apply for your tax-exempt status only after choosing it.

From charitable organizations to supplemental unemployment benefit trusts, there are numerous organizations you can form. So make sure you define your goals first and then see which one of the non-profit organizations suits your needs the best.

 

Brett Shapiro is a co-owner of GovDocFiling. He had an entrepreneurial spirit since he was young. He started GovDocFiling, a simple resource center that takes care of the mundane, yet critical, formation documentation for any new business entity. 

 

 

4 Tips To Build A Strong Company Culture

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Having a strong culture makes your organization more attractive to job candidates, which makes it easier for you to find your ideal employees. A strong company culture also helps to create a positive work environment that contributes to employee satisfaction and your overall success.

A strong company culture provides the following benefits: 

  • Higher employee productivity
  • A strong brand identity
  • Smooth onboarding
  • An efficient and happy team
  • Less turnover
  • Attract high-performing candidates

If you don’t intentionally create your company culture, it will develop naturally from whatever dynamics exist. This could turn out unfavorable because a poor company culture can make your employees feel uncomfortable or stressed and this will impact their performance. 

Instead of letting this happen, here’s what you can do to create a positive company culture.

1. Be intentional with your recognition. 

Part of building a strong company culture includes recognizing your employees for their hard work and contributions to your company. When people feel appreciated and recognized, they put in more effort and are more productive. 

Here are 2 tips to recognize your employees effectively.

Don’t be cheap. 

When you recognize your employees, it’s important not to do it cheaply. People will know when they’ve been given a cheap gift that has been mass produced or is made with fake elements. For instance, if you’re going to give any type of gift with a diamond, make sure it’s real.

If you don’t have the budget for a traditional mined diamond, look into lab grown diamonds because they’re equally real, but budget-friendly. If you can’t get an item with a real diamond (or any other gem) it’s better to skip the gem all together.

Make it personal.

A personalized gift isn’t simply a t-shirt or an expensive pen engraved with someone’s name. A personalized gift is something that your recipient will love because it speaks directly to their likes and interests. 

For example, if an employee you want to recognize enjoys golfing, you might give them some top-grade golf balls or a gift certificate to a store that sells golfing equipment.

You can certainly engrave names on plaques, briefcases, pens, and other items. Just remember that isn’t what makes a gift personal. Always have your recipient’s preferences in mind – otherwise, the recognition won’t mean much. 

2. Listen to your employees.

Whether your employees are giving you positive or negative feedback, listen to everything they have to say. If your employees have a complaint about something, there’s a reason and it’s important to explore their concerns.

Strong leaders make it easy for employees to share opinions and experiences, which involves making yourself accessible for private, one-on-one conversations. Make sure your employees know they can come to you with their concerns without feeling like they might get punished for sharing.

This is a major part of the foundation for a strong company culture. If your employees know they can talk to you and share openly, they won’t hide things and will actually help you implement solutions when you need their help.

3. Be consistent. 

Maintaining consistency throughout your organization will naturally support a strong company culture. People need consistency to feel stable and to trust you.

Some examples of consistency include:

  • Holding everyone to the same standards (not playing favorites). This will earn respect from your employees and will eliminate some of the competitive/cliquish behavior.
  • Maintaining enforcement of your policies and procedures (don’t let people slide).
  • Following through with your promises
  • Not changing rules, schedules, or agreements on a whim. For example, if you give an employee Tuesdays and Thursdays to work remotely, don’t change their remote days on a whim every other week. Having a consistent work schedule makes employees more productive.

Out of all you can possibly do to build a positive company culture, consistency will have the greatest impact. 

4. Audit your culture periodically.

In addition to working on building your company culture, don’t forget to audit your culture periodically, too. Perform a “culture audit” every few months to assess how your culture is currently and where there’s room for improvement. Once you perform an audit, create a plan to transition your company into your ideal culture.

Write your company culture into your employee handbook.

Once you know how you’d like your company culture to operate, put it in writing. What behavior traits do you want your employees to embody as part of your company culture? 

Describe this in words and incorporate it into your employee handbooks. You’ll still need to train your new hires to embody your culture, but those ways of being will be easier for employees to embody when outlined in your company’s handbook.

 

5 Approaches To Employee Training And Onboarding

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employee training

employee training

When welcoming newbies to your organization, one standard operating procedure that almost all companies do is to get them onboard and train them. However, if you feel like your existing ways and systems aren’t that effective and you feel like something is off, then it’s wise to stay on this page. You could have been doing something wrong or must have missed a crucial step in the process.

Fortunately, there are many tactics, advice, and ways to improvise training and onboarding sessions today. For instance, many modern approaches like just-in-time learning and other tech tools or software can aid institutions in developing core competencies among their staff, even on their first day. Onboarding is an important time for employees to measure and assess whether your company is where they’d like to grow and contribute their efforts, so make this crucial time count.

To know more about such approaches, consider this guide below:

1.Create An Unforgettable Onboarding Experience.

One of the best approaches to making an effective onboarding for your new hires is to make it unique and unforgettable. Ensure that the entire department or team is engaged and committed to this event. In the first few weeks after a new employee starts with your organization, sending them an introductory email is a good idea.

Describe the new hire’s responsibilities and share a few facts about them. The existing team will be able to brainstorm some ideas to make the onboarding more memorable for the new staff. And this will definitely make the new hire feel welcomed and ready to succeed on their first day.

You can consider the following tips to make their onboarding a little more thoughtful:

  • You can go all out and display a welcome banner sign in your office. This is particularly effective when you’re onboarding a batch of new hires. Have their names on it and a huge ‘Welcome Aboard’ writing. Such a trivial step can instantly make your new employees feel valued.
  • Ensure they have everything they need at their work desk. Get their ID cards ready, as well as any paperwork needed for them to fill out.
  • Assign a buddy or a training supervisor to each new hire. They can shadow and work alongside their buddies in the beginning weeks of their onboarding.
  • Lastly, this could mean spending some bucks, but giving them a gift or company merchandise would be a nice touch.

All of these awesome onboarding ideas can make your new hire feel even more welcome and excited to join your company. Also, you can create a program and an afterparty so everyone can meet and greet each other.

2. Consider Applying Diverse Learning Styles.

Engaging new hires through employee guides or worksheets is possible, but you’ll need much more to do so. These tools aren’t enough for them to grasp everything about their jobs. While independence is a skill that they should develop in the company, they’ll need support and help in the beginning weeks. Onboarding should be customized to each new hire and their position.

According to their job position and roles, applying diverse learning styles and methods is essential. Here are some considerations:

  • Incorporate multimedia in their training programs. For example, insert videos and audio clips to promote advanced learning. Using a gamification strategy will allow them to perk up through such resources.
  • For visual learners, it’s important to implement training methods with many textual and graphic elements. Visual learners tend to look at them and learn more effectively.
  • For those with auditory preferences, one learning style that might work better for them is to have a one-on-one discussion or training meeting where the trainer can explain things to them in person.
  • Another learning style is to provide tests, exams, and quizzes to grasp the knowledge your new employees acquired. This is helpful for companies that come with jargon and complex work processes. Having mock exams can better prepare the employee for real-life situations at work.

3. Build On Your Employees’ Strengths.

During employee assessment, it’s wise to ask them to complete a SWOT analysis (strengths, weaknesses, opportunities, and threats). This will guide your company to discover what its strengths are to leverage them. In training, employees are usually identified as having areas for improvement, and their weaker skills are developed. But another effective approach is to rev up their strengths even more.

Hence, it’s important to spot these skills and develop them further. To come up with plans that’d hone your new hires’ skills, spend time learning more about their interests and strengths during the training and onboarding processes.

4. Come Up With A Healthy Intensity Of Training.

Training needs to be well-balanced for your new hires not to feel stressed out and overwhelmed. When employees are overtrained, they could experience information overload, drastically decreasing their motivation. While it might seem like this would help them get up to speed faster, human brains aren’t capable of retaining that much information. Providing them with much information too soon will have adverse effects. Therefore, allow your new staff to learn at their own pace and time.

On the other hand, it’s also dangerous to conduct lenient and passive training. By letting employees figure out everything on their own, they might not be able to attain the training goals you’ve set. Employee morale is negatively affected when employees feel like they don’t receive the necessary support for their onboarding and training phase. This could make you lose amazing talents. Hence, it’s crucial to find a balance between under and over-training.

5. Be Open To Employees’ Feedback And Opinions.

Communication makes employees feel valued, and it’s a best practice in employee training. For an effective training and onboarding approach, try to be open to your staff’s feedback and opinions. This will allow you to modify your programs accordingly. Like anything else, it won’t hurt to have another set of eyes check your processes to see which steps need to be changed.

It’s best to solicit feedback during training while employees are still retaining information. Check-in meetings should be included in your training timeline, and employees should be encouraged to be honest about how learning is going. After all, a more successful training program is driven by feedback for long-term changes and immediate adjustments.

Conclusion.

There are many reasons why employee training is necessary. Getting new employees properly established requires an effective onboarding process and training phases. However, applying the right approaches is crucial so your employees and your company can attain your business goals together. With the approaches and tips stated above, you’re now ready to welcome new hires to your company.

 

Top Differences Between Purchase Order And Invoice

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by Prasanna Rajendran, Vice President at Kissflow

You might have some knowledge of what “Invoice” entails, but “Purchase Order” may come as a new term to you. Although the contents of both might be similar, they serve entirely different purposes. Even seasoned procurement professionals can confuse the items of these two procurement documents while drafting them.

When it comes to your business’s financial pursuits, being compliant and organized depends on your ability to understand the purpose and subtleties of these two items. They also enable you to keep up a healthy cash flow, which is necessary to make sure that your company is prepared to deal with any unforeseen financial circumstances.

But how do these two documents differ from one another? Let’s find out.

Difference Between Purchase Order and Invoice

In this article, we will explore different aspects of a purchase order and invoices: which one comes before the other, what does each consist of, and why is it essential for your business:

1. Definition.

If you are new to procurement terms and processes, it is important first to understand what each term entails:

a. What Is PO?

A purchase order, commonly referred to as a PO, is the formal document that a buyer sends to a vendor to track and manage the purchasing process. In simple words, it is used to place an order. The PO becomes a contract as soon as a vendor accepts it.

b. What Is an Invoice?

When an order is completed, a vendor will send an invoice to its customers as a formal request for payment. It contains the amount of money owed and a list of the provided products or services.

2. Why Is It Important?

A purchase order or an invoice may seem like an extra burden. Still, when the need for purchases rises, and the buyer-seller relationship develops, these financial records assist a firm in managing its purchases efficiently. You can’t just prefer one when it comes to choosing between a purchase order and an invoice since both are equally important:

a. Importance of Purchase Order

Purchase order helps organizations to conduct smooth business deals by:

  1. Conveying Clear Expectations: You may communicate your needs and requirements to your vendors upfront via purchase order. It helps you set clear expectations and specify what exactly is required.
  2. Eliminating Duplicate Requests: The POs assist in keeping track of who ordered what, from whom, and when as the volume of order requests rises. Without a purchase order, you risk making duplicate requests that cost your company money.
  3. Effectively Managing Inventory: Typically, businesses lack a clear understanding of their inventory, which results in issues like shortages. A purchase order system lets you decide how much stock to maintain and when to restock. You can manage your inventory more effectively by adopting software to handle your POs.
  4. Making Budgeting Easy: You must determine order quantities and costs before the project starts to issue precise POs for a big project. With POs in hand, you can easily make flexible budgets that provide you with a complete overview of your project’s finances.

b. Importance of Invoices

Invoices are the receipt you get from a supplier asking for payment for their services. It is essential because it:

  1. Establishes a Trail of Evidence – It creates a paper trail between the customer and the seller. Sending, receiving, and paying invoices indicate that two parties are in communication, and the itemized form of an invoice keeps your business interactions open and honest.
  2. Keeps Everyone on Board – Each invoice maintains a current tally of account balances. Business owners keep track of their expenditures using invoices, and finance teams can monitor where the money is being spent and how much is being spent.
  3. Makes Taxation Easier – Keeping track of your invoices can safeguard you and your company from external and internal allegations and make auditing and calculating taxes simpler.

3. Who Is the Sender, When Is It Sent, and Where Do They Fall Into the Procurement Workflow?

Two of the most confounding financial terminology are purchase orders and invoices, which sometimes appear synonyms. Both are statements regarding products and services that are tied to trade. However, they happen at different stages of a procurement workflow.

The buyer sends a purchase order at the start of a commercial transaction. This document outlines the client’s requirements for the goods or services, including the quantity and cost. The supplier is then asked to approve the purchase order. Once accepted, the purchase order becomes a contract that must be followed.

The supplier issues an invoice when the purchase order’s conditions are satisfied. In this case, the seller is the sender. The sum that was previously agreed upon is listed on an invoice, and the customer is required to pay it when the transaction is fulfilled. Additionally, it can include the seller’s available payment options, such as cheques and electronic payments.

An invoice includes the initial purchase order number for reference. This will verify that the purchase was previously budgeted for and authorized to the buyer’s finance team and, in turn, helps accelerate the supplier’s payment.

4. What Do They Consist Of?

Purchase orders and invoices have many similarities when it comes to their constituents, but they also differentiate themselves through what they consist of.

a. Purchase Order

It is necessary to provide the following details on a purchase order:

  1. Name and contact information for the buyer
  2. Name and contact information for the seller
  3. Purchase Order Number
  4. Date of Issuance
  5. Describe the products or services you’re looking for
  6. The volume of the desired products or services
  7. The date that the products or services are delivered
  8. Any unique details, such as requirements or shipping instructions
  9. Information on taxes
  10. Signature of both buyer and seller

b.    Invoice

The invoice has to contain the following items:

  1. Name and contact information for the seller
  2. Name and contact information for the buyer
  3. Purchase Order Number and Invoice Number
  4. Date of Issuance
  5. A precise breakdown of the goods or services bought
  6. The number of each item bought
  7. The price per unit of each item
  8. The whole cost of the services
  9. The date of the transaction
  10. Signature of seller

5. Signing

To be a legal document, both the purchase order and invoice must be signed by the parties. While the buyer and seller typically sign a purchase order, an invoice is generally signed by the seller only.

a. Purchase Order

The purchase order is signed by both parties to ensure they authorize the order placed by the buyer. It additionally double-checks the requirements written in the purchase order. It acknowledges the order, quantity, and feature before it gets accepted by the seller, and they start working on it.

Similarly, the seller signs the purchase order because it confirms that the seller has understood the order’s requirement and agrees to deliver the goods on the date mentioned on the purchase order.

b. Invoice

An invoice must be signed by the seller only. It is sent once the buyer has received the goods. Buyers do not need to sign the invoice because once it is issued, it will be kept with the buyer for record purposes. Once the buyer pays the invoice, the seller might have to sign the acknowledgment of receipt to confirm the buyer has paid the payment.

6. Payment

POs and invoices are formal business papers for your company since they include legally enforceable agreements. As a result, once either shipped or received, the products or services must be prepared and paid for under the agreed-upon arrangement between the parties.

a. Purchase Order

In the case of a purchase order, it does not guarantee payment. Once the suppliers are accepted, goods or services mentioned in the purchase order should be delivered within time, or else as per the terms and conditions, the supplier may be liable for a penalty.

b. Invoice

An invoice guarantees payment for the goods or services listed. When the supplier issues an invoice, they expect to be paid as the invoice is a payment request. To ensure the buyer pays the seller on time, the supplier’s additional terms and conditions to the invoice penalize the buyer in case of late payment.

Endnote

Purchase orders and invoices are an essential part of the financial documentation of every organization. They help you keep track of your order, inventory, and organizational spend. While some businesses still work with these documents manually and on paper, new trends are now transforming these traditional methods.

With robust software, businesses worldwide are digitizing their procurement workflows, including purchase orders and invoices. Purchase order and invoice approval software systems further assist companies in monitoring and managing their orders, inventories and payments.

 

Prasanna Rajendran is the Vice President at Kissflow, where he heads the business operations of Kissflow Procurement Cloud, a flexible purchasing software for procurement teams to streamline all their purchasing processes in a single place. He has over 20 years of experience in technology and has helped Fortune 500 companies with custom solutions in the sourcing and procurement space.

 

Why Every Young Professional Should Work On Their Sales Skills

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by Teejay Salazar, Vice President of Sales at Cyberbacker

If you look to the internet for information on how to boost your career, you will find no end of lists identifying essential skills. Some of them are obvious, such as communications, teamwork, and leadership. Others might be surprising, such as foreign languages, speed reading, and Photoshop. But one, which I have found to be among the most important skills for anyone who wants to experience growth in their career, is missing: sales.

No matter what you do, or how long you have been doing it, having excellent sales skills is critical to succeeding where you are and achieving what comes next. And the fact that it rarely makes the top lists means it could be the skill that sets you apart from the competition, getting you the job, the promotion, or the pay increase you have been after.

Why sales skills are your secret weapon

Regardless of the title you hold, your success relies on selling. For example, you might be a public relations publicist. By the time you start working with a client, they have already been sold by an account manager on a PR packet. Your job at that point is to get the client meaningful media coverage, which you do by selling media pitches. If you can’t get media outlets to buy your story ideas, you won’t succeed in your job. Your title is publicist, but your job is selling.

Perhaps you work in IT designing digital solutions. Whether your clients are internal or external, your job will involve selling the solutions that you design. You will need to sell the client on the viability of the design, sell your management on approving it, sell your team on implementing it, and sell the client on utilizing it.

If you are unemployed or looking to transition to a new career, you need to be able to sell yourself on your resume. If you don’t, you will not get an opportunity to interview for a new job. During the interview, your job is to get the hiring manager to buy the idea that you are the best person for the position.

The skills make you a great salesperson

If you are ready to include sales skills in your personal development plan, here are a few tips I have learned during my career in sales.

  • Listen and learn — You already know about your product, especially if that product is you or your ideas. What you may not know about is your customer’s problem. Making the sale involves presenting a solid argument for how your product solves their problem. Take the time to listen and learn what problem the customer is trying to solve before you start pitching your solution.
  • Own the product — The best way to convince a client, whether that is a customer, a coworker, or a manager, is to convince yourself first. If you do not believe in the product or service, you are not the best person to convince a customer. In addition, persistence, which is critical in sales, will flow from your belief that you are selling a great solution.
  • Know people — Before I started working in sales, I worked in customer service. During that phase of my career, I learned to recognize people’s emotions and leverage them to guide the conversation. Regardless of what you are selling, the buyer will always be a person. The better you understand them, the easier it will be to meet their needs.
  • Focus — Don’t start selling without a goal. What are you hoping to achieve? A promotion? An award? A raise? Once you identify the goal, you can map out the growth you will need to achieve and the gatekeepers you will need to convince. Big sales can take a while to set up; stay focused on the goal and proceed one step at a time.

Sales skills are important for every professional because every professional needs to inspire buy-in. From entry level to senior positions, your success requires getting those around you to buy into your vision, your proposals, and your value. Even CEOs must sell their boards. You will never stop needing sales skills.

 

teejay salazar

Teejay Salazar is Vice President of Sales at Cyberbacker, the leading provider of world-class administrative support and virtual assistant services from anywhere in the world to anyone in the world. He used his sales skills to grow from an employee at a call center to his current VP position.

 

Could The British Pound Reach Parity With The US Dollar?

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Are you wondering if the British pound could reach parity with the US dollar? It’s been spoken about more often in the last few months as the sterling continues to decline, and the greenback conversely gathers strength with value not seen in more than 20 years. The pound and the dollar have never hit parity before, but a couple of times in the past they’ve gotten pretty close.

Back when Thatcher was in power in 1985, the GBP/USD fleetingly fell below 1.10, and it was a somewhat similar economic story as is happening today, with economic stimulus in the form of tax cuts in the U.S, inflation out of control in both countries, and oil prices spiking.

Let’s take a look at how the major currency pair might hit parity for the first time. If you’re a keen Forex trader looking to take advantage of the recent volatility, it’s important to find a trusted and regulated broker such as Easymarkets, and be sure your trades are made efficiently and safely – meaning following your trading plan and always using stop-losses.

The perfect recipe for parity

If the Purchasing Power Parity (PPP) theory is to be believed, then eventually all currencies should hit parity over time. To put things in perspective, we’re a long way from where the pair once sat during the 1800s, at 5:1.

Since that time, the pound has been gradually trending lower and some analystes believe that 2023 will be the year it finally levels with the USD. Closing at 1.1266 USD on the 21st of September and hovering around the same at the time of writing, predictions may not be far off, given the risks the UK is currently facing with its economy.

The pound’s decline against the dollar lately hasn’t been helped by the Federal Reserve front-loading interest rate hikes to try to bring out-of-control inflation back in line with target numbers. The Bank of England has been slower to raise its key rates for various reasons, and this in turn has led to a gap in the interest rate differential between the two countries.

When investors see an opportunity to increase their returns by turning to a country with higher interest rates, they will need to sell their local currency first, creating more demand for the preferred currency and less demand for the one being sold. This is one of the reasons why the USD is so strong against other major currencies at the moment.

Even now though, with the Bank of England slowly but steadily increasing its interest rates, including today, September 22nd, when the central bank raised rates by 50 basis points to 2.25%, the impact of unyielding inflation is growing by the day, a serious energy crisis has the British economy in trouble and handing out billions in energy subsidies, and they’re staring down the barrel of recession and possibly stagflation. All of this points to an even weaker pound relative to the dollar, and it’s anyone’s guess how low it will go.

 

The Benefits Of Having The Right Advisors When Launching A Startup

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by Svetlana Kamyshanskaya, Founder of Primum Law Group

Launching a startup can be a heavy undertaking, even for the most savvy businessperson. There are many factors to consider, money is being spent left and right, and there may be several people bringing opinions and suggestions to the table at any given time.

As you bring your idea to fruition, having the right people at that table can mean the difference between success and failure. Having solid advisors in place can benefit your burgeoning venture’s current and future health.

Founders and Expertise

Startup founders can be some of the most talented innovators in the world and still not have the full range of knowledge and expertise necessary to bring a business through a successful launch. Often, founders with technical or creative backgrounds will bring on co-founders more grounded in business to manage operations and growth, but even that does not mean that  founders can navigate the process without involving the experts and advisors.

The role of advisors is to bridge the gaps between knowledge bases. In most cases, to make a business successful, one must have a solid vision and concept, understand business structure, legal matters, and organizational design, grasp the product development process, and be comfortable with marketing, sales, scaling, and distribution.There are some cases where founders or co-founders could be well-versed in all of those areas, but advisors can cover the gaps they may have in expertise.

Advisors can be the cornerstone of your operations. They can add clout to your startup team, and their connections and networking capabilities can help grow your young business by leaps and bounds. In addition, assembling a team of competent advisors can be the first step in gaining trust with investors and strategic partners.

The Job of the Startup Advisor

A startup should choose advisors based on their niche knowledge, which means assembling a multifaceted team of experts. Advisors typically carry one or more particular deliverables, ranging from wealth in the form of investors, specific work skills, or mentorship capabilities. If the people who possess this range of skills are not interested in being members of a Board of Directors due to the time commitment and liabilities associated, or are not quite the right fit for a board, they may be better suited for a role as an advisor.

The main priority for the majority of startups is raising capital and growth. A good team of advisors makes the startup more attractive for investors, as investors understand the probability of success for these startups is higher. Advisors encourage growth and help founders by saving them time, helping them avoid mistakes, providing insights, and sometimes even bringing customers or clients to the startup. Unlike regular consultants, advisors are typically compensated through equity in the company or terms agreed upon as reimbursement for their time and effort in advising the company.

Different advisors fill different roles depending on what is needed by a founder. For example, in a startup that is tech-based, advisors with a wide range of technical expertise are bound to be required. In startups that focus on marketing skills or a physical product, advisors with expert knowledge in those areas would be more advantageous. The group of advisors assembled can be the first point of contact for a startup founder who has questions or needs direction.

Legal advisors play a pivotal role within startups. More than just a lawyer, legal advisors can help startups foresee potential issues and advise on how to successfully avoid them. There are a myriad of legal issues woven within the foundation of a company — from incorporation to tax navigation, to navigating government entities. Solid, talented legal advisors can act as risk managers, help startups with licensing needs, and lead them through regulatory hurdles.

Avoiding Mistakes and Making Connections

Having advisors in place can help startup founders avoid costly mistakes that could potentially spell ruin for their venture. From the formation of the initial concept, advisors can help steer founders from entering the wrong markets, picking the wrong investors, making mistakes in presentation, or making mistakes that could lead to litigation.

Through valuable connections, knowledgeable advisors can help create a foundation of support for a new business, opening doors for potential partnerships or talented hires. When an advisor is well-known in a particular niche industry, their name can help get one’s foot in the door and assist in fostering brand recognition.

When and How

When to bring on advisors is a question that many startup founders may have. Through the formation of their initial idea, there may have been some advisors who were naturally with them on the ground floor. Conversely, advisors may be something that founders have to seek out actively.

When seeking talented advisors, founders need to consider their product or service niche, initial strategic plan, target market, and current challenges. Analyzing these points will help guide founders to the right advisors. Speaking with people they trust, board members, co-founders, and employees that have been brought in early can help open up lines of communication, leading founders to the best advisors for the job at hand.

Advisors can be hired right at the beginning of a startup’s rise, as the startup scales, or when (and if) the startup finds itself at a crossroads where they need to ramp up sales or solve a problem hindering growth. Advisors can come into play at many stops along the startup journey. A good advisor offers advice, insight, and guidance. A great advisor provides the same, but additionally gives founders the room to apply the knowledge gained and grow from it.

Founders should choose their advisors carefully, taking steps to avoid any conflicts of interest within their industry or taking on advisors with checkered pasts. Advisors should be vetted just as potential employees are through interviews and background checks.

As one’s business scales and evolves, their needs regarding advisors may change, as well. Reconsidering what is needed in terms of advisory is a natural part of business growth, and different advisors may be brought on to fill various roles as the business grows.

Putting the right people in place is a large part of startup success. The right advisory team can be a boon for your startup, taking you from idea to execution and staying with you as you scale and solidify your place as a market leader.

 

Svetlana Kamyshanskaya

Svetlana Kamyshanskaya, founder of Primum Law Group, is more than an international business lawyer; she is a global citizen with the legal, operational, and project management know-how to chart a successful course for expanding international tech companies and startups.

 

How To Reduce Friction Points In The Customer Journey

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customer journey

customer journey

Customer friction is a factor that impedes the experience of your consumers as they go through their purchasing decision. These elements may include negative online reviews, poor customer service, under-skilled sales representatives, and terrible web user experience.

You’ll likely miss opportunities to raise revenue if you ignore friction in the sales process. Aside from that, you’ll lose your most loyal consumers, which will reduce your market share. In turn, you might be unable to attract high-paying leads and fail to generate enough funds to pay business costs.

This article provides you with five practical strategies for reducing friction points in the customer journey.

1. Conduct Customer Experience Research.

Modern customers demand more personalized engagements with brands on various channels. If you can consistently deliver these high expectations, you’ll gain a competitive edge and increase your market share. Thus, you must gather valuable data to help provide your clients with satisfying experiences that’ll keep them returning to your store.

When improving customer experience, you need to research to understand who your consumers are and study how they perceive your brand. This strategy allows you to map and integrate data across the customer journey to identify each user’s level of engagement. After that, you’ll be able to develop a feedback loop that’ll allow you to respond to reviews using data-driven actions.

2. Provide CTAs.

Functioning calls-to-action (CTAs) will help you guide your web visitors so you can lead them through the buying process. This element eliminates decision fatigue whenever prospects come across your promotional content because you’ll tell them what to do. In turn, you can simplify the customer journey and generate more sales, reducing friction.

When creating CTAs, you need to be straight to the point by choosing powerful statements that’ll attract the attention of online users. Another way to motivate them to take action is by giving them a sense of urgency to make them think they’ll miss out on a unique opportunity. For instance, you may add some of the most direct and time-sensitive CTAs like ‘Buy today! The sale ends on Friday.’

3. Upgrade Communication Channels.

Two-way communication is the most vital factor in improving the customer journey. Therefore, you must provide your sales representatives and customer service teams with modern tools to respond to online users’ complaints. In turn, they can immediately send effective resolutions to your client’s issues, which might prevent them from writing bad online reviews about your brand.

When upgrading communication channels, you must invest in advanced technologies like the help desk, live chat, and messaging software. Most of these tools have features like routing incoming calls and adding notes to one-on-one conversations to enable messaging personalization. Aside from that, you must also optimize your website and social media pages so your customers can easily find company information and frequently asked questions (FAQs).

4. Offer Multiple Payment Options.

Running a digital store means online users expect you to accept multiple payment options. Some of the most common methods used in eCommerce transactions include cash, credit and debit cards, and digital wallets. Once you do so, you’ll make your brand more trustworthy and minimize cart abandonment, which improves the customer journey.

As you offer multiple payment options, you have to invest in a bar code generating tool so you can create codes, save them, and print them out. Then, you’ll ask customers who are transferring cash via digital wallets to capture them so they can instantly pay their bills. In addition, you must buy a point-of-sale device to gain verification for debit or credit card transactions.

5. Develop A Mobile-Friendly Website.

When visiting your business website, online users will expect it to load fast so they can review product information or set up item orders. However, if mobile users can’t navigate through the pages smoothly, they’re likely to close them and move on to browsing other high-performing channels. As a result, they’ll have negative experiences with your website and prevent you from missing out on sales opportunities.

When developing a mobile-friendly website, you need to seek assistance from your web development team or outsource web design professionals. These experts will help you improve mobile usage experiences by enabling smooth navigation and ensuring that your blog elements fit mobile screens. In turn, they’ll be able to increase the load speed of your pages so you can shorten the customer journey by encouraging prospects to buy your offers.

Key Takeaway

As a modern entrepreneur, you should always prioritize the experiences of your prospective and existing customers. Therefore, you must consider following these effective strategies to reduce friction points in the customer journey. Once you do so, you’ll create satisfying experiences for your clients and ensure they purchase your products or services.

 

Life After Career Death

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by Chris Westfall, author of “Easier: 60 Ways to Make Your Life Work for You” 

They beat me to it, the Client thought to himself. I wanted to leave but they pushed me out. Bagged, tagged and gagged. He sat back in the seat, unable to start the car because he didn’t know where to go. His thoughts went to his wife. How could he tell her what had just happened? What about his daughters? The lower school semester would be over soon, but that private school tuition wasn’t going to take care of itself…where would that money come from? Of course his wife had her earnings, from her business, but they shared the expenses. It took two to keep the boat afloat. Considering his paycheck had just been eliminated, he had a sinking feeling.

What would his wife do, or say, or think of him? He started the car. He didn’t know where he was going but he needed to drive. Needed to get out of that parking garage. Needed to distance himself from his former employer.

The post-rush-hour traffic was light, and before he knew it he was on the other side of the airport. The only thing going faster than the cars around him was his mind. He was beaten. Robbed. Powerless. He found himself, two hours later, cruising in the general direction of his neighborhood. Along the journey, he had played out the conversation with his wife 397 times in his head, finally deciding to go for an even 400 before pulling into his own driveway. His imagination had become Groundhog Day.

Turning off the engine, he realized he had gone through nearly every possible scenario: divorce, separation, high anxiety, stomach ulcers, a Xanax addiction, massive relentless disappointment, humiliation, mistrust and 360 degrees of disgust. His wife would bail out, he was sure of it. She was brilliant, beautiful, capable and successful. She deserved better. She couldn’t count on him. He couldn’t count on himself.  But who was counting?

He was damaged goods. Returned without a refund. His former company had been gutted like a fish; he was a discarded bone. His unimaginative CEO had used her imagination (and his detailed reporting) to sell the company to the investors just the way they wanted it: namely, without him in it.

Sitting in his garage, he wondered if he had heard all of the conversation that had taken place in the conference room. Details on the severance package were fuzzy, as well as timelines and even how he would return his laptop. They hadn’t confiscated anything in the meeting, and he had a bunch of files at home that would probably be useful to the new ownership. He thought they said his team had been fired as well. Or that they would be?  Why hadn’t they told him about that? Or had they, and he was too preoccupied with the lawyer’s knuckles and patchwork beard to really consider what was discussed?

At some point, he decided the speculation about his impending divorce wasn’t getting any better inside his car. Time to go in, say what happened, and face the music.

His wife was cleaning up a broken dish when he entered the kitchen. “Well hello there,” she said, from a kneeling position near the sink. She stood up, placing a dustpan filled with blue ceramic chunks on the counter. “You’re home early!”

He told her everything. “They beat me to it”, he said. She knew he had wanted to leave for a very long time. “They got me. The division was cut to the bone and sold. I’m done.”

She came to him and touched his face with one hand, and then two, cupping his chin between them. She pulled him closer, leaning in on her tiptoes, and kissed him ever so softly on the mouth. He shut his eyes and wondered if he deserved it. If he deserved her.

She shut her eyes and every fiber of her being was filled with gratitude. At last, she thought to herself, we have everything we need.

Her almond eyes looked up at him, with the tiniest of tears coming to rest inside her bottom lashes. Her skin, impossibly beautiful from any angle or distance, caught the light perfectly without effort or intention. He loved her deeply, and wanted to take care of her – not because of some antiquated gender ritual or outdated family concept. He simply wanted to give this woman what he believed she deserved. Which was, in a word, everything. But how could you give someone that which you had lost, that which you had not, that which had been taken from you?

“Oh,” she said, her brown eyes darting ever so slightly as she looked up at him. He was bracing for impact, the scolding that would begin with her deep disappointment, leading to the imminent logical and well-deserved conclusion that separation, and ultimately divorce, was what he really deserved. After all, if his job was gone, how could she stay?

His wife saw a man who wasn’t broken. The door that her husband wanted to unlock, but couldn’t, had been opened for him.

Did the change happen in the exact way he wanted? She didn’t care. Victory was his – and theirs. All was not lost. Everything was gained. They were together. What more did they need?

Would they be able to step into the simple pleasures of life, somehow, and embrace what he had been given? She knew the answer was yes. The barrier that was keeping them apart was finally removed. That barrier had been keeping her husband from himself, and by extension, from her.

She saw the diligence in this man. He tried so hard. He worked hard. Wanted to be more, do more. She knew he had hired a Coach to try and break free from his professional prison – they talked about the experience of his weekend near Austin. She was encouraged with feelings of progress, and knew that he would be able to make a change in his career. The break didn’t go as planned, but he was out nonetheless.

Looking into his eyes, she saw the tears he was fighting to contain. His tears were trapped behind his eyes, kept back by that same fighting spirit that held him back in his job. She cried for him, the tears he would not allow himself to shed.  But her tears were tears of joy.

At last, he was returned to her. A dark spot had been erased. They had been separated by his work. Now they were reunited.

She held both his hands. A shiny gold and silver wedding band rested on his third finger. Did he know that ring would always be her favorite piece of jewelry?

Supporting his hands, she spoke.  “You are free.” And then, lifting her eyes to his. “You. Are. Free.” She hugged him close and whispered in his ear. “Look at us! We are OK. You are OK. Oh my God,” she said, pulling back to look at his face. “Thank God that’s over.”

And she laughed.

Before he knew what was happening, so did he. They held each other in a deep embrace, hugging and laughing. They shared the same breath.

His career was imploding. But he was not.

The dishes were broken. But he was fine.

His wife saw that everything was not only OK. Everything was just right.

Soon, she knew he would feel something he hadn’t felt for a very long time. Because, inside of the tears in his shining blue eyes, she saw it.

Hope.

There is always hope.

She had been holding on to it for so long, and all she wanted to do was to give it to him. She didn’t know how. She struggled to find a way to let him see who he was. To tell him of the universe she saw inside of him. To help him find the freedom that, today, this morning, was finally his. And hers. And theirs.

“This is the absolute best thing that could have happened to us,” his wife said, wiping away a tear. He laughed even harder. She nearly shouted, “It’s a gift!”

In the middle of awful circumstances, what looked like the greatest defeat of his life, and career, the Client was held. Supported. Surrounded by nothing less than love.

He was OK. In his wife’s smile, he was more than his career. Much more.

He didn’t know if the universe had his back, but he could feel his wife’s hands there. Which was close enough for him. He glanced at the dustpan.

She always picked up the pieces. Always.

He was so worried about supporting her. Then he realized that she was supporting him. And that they supported each other. And their daughters. And their dreams.

Perhaps that’s how love works?

Where he imagined disappointment, he found joy. When he stepped outside of the story inside his head, he saw the natural state around him. Namely, he knew that he was loved. He was love.

Not a corporate castaway. Not a failed foot soldier. Not a discarded fish bone.

Standing next to the kitchen island, beside the dishwasher, and just four feet away from the microwave, an idea started to sink in.

He was OK.

He had everything he needed. What more could he ask for, in this moment, right here and right now?

His thinking settled down.

He began to realize that he hadn’t listened very well in his final meeting. Either that, or they didn’t tell him much about the details of his separation. Whichever was true, he was noticing the gaps in his memory.

Behind the closed door, he had filled those gaps with anger, frustration, indignation, disappointment and other versions of punishing self-talk, as well as some misdirected seething at the poor skinny-suited bastard who was just trying to do his job and share some important legal details. Which the Client still refused to consider or digest.

Like a scene in a movie or play, everyone had their roles to play. He couldn’t see the scene, because he was wrapped up in his own personal turmoil. But, time, space and distance brought him some clarity.

Inside the conference room, the voice inside of the Client’s head had drowned out the words of the other players in the scene. The other three people who, quite frankly, were there to help him with his transition.

“What was the mood in the room?” his wife wanted to know. She got up to get a glass of water and returned with two.

From the kitchen table, instead of the conference table, realizations popped up all over the place. He saw that there was nothing sinister in their morning conversation. A business decision had been made. He was informed of the decision. He had some decisions to make himself. The first one? He had decided not to listen.

Companies get bought and sold all the time. He had not been consulted on the decision. But that consultation was not part of his job description. So why was it part of his expectation?

His Coach would say that he was making the impersonal personal. And the Coach would also say that taking things personally was perfectly normal. How could someone not take the disintegration of their company (and potentially, their livelihood) personally? Somebody pulls away the career you’ve held for a decade, you’re going to have some thinking around the transition. Who wouldn’t?

 

*Excerpted from “Easier: 60 Ways to Make Your Life Work for You”  by Chris Westfall (Wiley, 2022)

 

Chris Westfall

Chris Westfall is one of the most sought-after business coaches and keynote speakers in the world. He helped launch over five dozen businesses. A regular contributor to Forbes, he has worked with thousands of leaders at Fortune 500 companies, nonprofit organizations and high-tech startups. He is the author of three other books, including “Easier”  and “Leadership Language”.

 

The Best Advice You Could Ever Get About Make Money Blogging

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Making money blogging is a challenging yet rewarding venture that requires patience and persistence. There are many ways to make money with your blog, but you may not be able to utilize all of them at first.

So, consider what other bloggers are doing in your industry, and use what works best for you.

Affiliate Marketing

One of the most useful pieces of advice about blogging that anyone can give you is to start monetizing your website. Affiliate marketing is a great way to earn money with your website. You can earn money by including affiliate links in your posts, videos, and newsletters. The best way to do this is to include your affiliate links in posts related to your niche. In addition, you can use social media like Facebook and Twitter to promote your affiliate links.

One of the most important pieces of affiliate marketing advice is to offer bonus offers to your affiliates. For example, you can give your affiliates a free ebook or a discount on another product. Another way to do this is to hold a webinar where you discuss the product or service. This will encourage more sales.

Site Sponsorship

Besides ads, you can also take up consulting projects. Treating your blogs like a business and building relationships with other bloggers and companies is important. Here are some tips for high-end land clients. The advice is geared towards days one to ninety.

Start by identifying sponsors and finding their contact information. Then, pitch them your services. Make sure to include a clear description of what you can do for them. It would help if you were transparent about what you’re willing to do and never undersell yourself. For example, don’t apply for campaigns that offer less than $200 per blog post or $50 for social media. A Sponsored Price Calculator is best to determine the correct amount to charge.

Selling Digital Products

Selling digital products is an excellent way to earn a full-time income online. In addition to allowing you to scale your business without additional expenses, digital products also allow you to reach a broader audience. In addition, digital products can be delivered instantly and sold in many different ways, such as online stores, marketplaces, and social media platforms. To succeed in selling digital products, you will need to learn related digital skills and create unique products that solve real-world problems. Because the digital market is highly competitive, you’ll need to develop a solid marketing strategy and stand out.

First, you need to understand your target market. You can identify their needs and desires by listening to your followers’ opinions. You can also ask them what type of products they would be interested in purchasing. Once you know what your target market wants, you can start developing a product that meets their needs.

Building a Virtual Community on Your Blog

One of the best ways to make money blogging is by building a community of readers. By engaging with your readers and responding to their comments, you can encourage them to return to your blog. You can even collaborate with other bloggers who are respected in their field. This can include guest posting, promoting one another’s products, and regularly interacting on social media.

You can also try charging your readers to access certain content on your blog. This is particularly good for those loyal to your blog who might be willing to pay a few dollars to get exclusive access. However, this method requires a significant investment, and you may need to offer premium content before generating significant recurring revenue.

Writing About Something You’re Passionate About

To make money from your blog, you must create a loyal audience and grow your blog’s popularity. A larger audience means more money for you. You must choose a niche or theme for your blog to build an audience. A niche allows you to hone in on a particular topic, which will allow you to attract a highly targeted group of followers.

To start a blog, start by thinking about the overall body of your work and the type of audience you’d like to reach. If you’re passionate about knitting, consider blogging about knitting, or if you’re a TV addict, consider writing about British TV dramas. Also, try to write about topics you love to read.

Creating an “About” Page on Your Blog

As a blogger, you can make money by offering various services to others, whether consulting or selling digital products. The more satisfied your clients are with your services, the more likely they recommend you to others, which can help you generate more business.

To generate a profit from your blog, you must focus your content strategy on those who need your help. Your articles should address a particular problem that they have, which you can solve through your blog. This will ensure that you build a relationship with your audience. To build this relationship, you must be transparent and honest and deliver high-quality, exclusive content. You should also ensure you listen to what your readers say about your content.

Selling your Time

When you’re building your online presence and sharpening your entrepreneurial skills, selling your time to make money by blogging can be a great option. You can earn up to $500 per post by writing high-quality articles. You can also create blog series, which are collections of related posts. These can be a great way to make money blogging and build your blog faster.

Freelancing is a time-intensive way to make money blogging, but it can be a great sideline while you work on larger projects. On the other hand, if you can dedicate 3-5 hours daily, you’ll find it easier to monetize your blog sooner than most. For this, you’ll need blind faith in yourself and the ability to keep pushing forward. The best way to succeed in making money blogging is to be persistent.

 

[Infographic] Top 10 Reasons Startups Fail

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Despite the rosy picture and runaway successes painted by the startup scene, the fact remains – up to 90% of all startups fail. That’s right, nine in 10 startups don’t make it. Two-thirds of them fail within the first five years, and only one makes it to profitability and success.

But why do startups fail? There are many reasons.

Award-winning collaboration and work management software Wrike has put together an infographic listing out the top 10 reasons why most startups don’t make it to the finish line.

Top 10 Reasons Startups Fail

[Infographic brought to you by Wrike software for agile project management]

 

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