5 Successful Tips On Starting A Tax Business In 2025

February 11, 2025

It’s no secret that starting a tax preparation business is lucrative. Most tax preparers make $100,000 or more per tax season.

If you want to get in on this money-making career, there are a few things to cover first. Being a successful tax preparer takes more than having great accounting skills.

Thinking about starting a tax business? Keep reading to find out how.

1. Cover State, Local, and IRS Requirements.

The most important element of starting a tax business is to handle the legal requirements.

First, you will need to apply for a business license. You can do this through your local government. Most states allow you to do this online, but some require you to file paperwork.

Next, you will need to register with the IRS and get a Preparer Tax Identification Number (PTIN). In addition to this, you will need to apply for your IRS Electronic Filing Identification Number (EFIN) so you can e-file tax returns.

Although this step isn’t mandatory, it’s wise to consider enrolling in the IRS Annual Filing Season Program. Having a record of completion can be included in the IRS Public Directory and adds to your credibility. Not to mention, this will make you even more attractive to potential clients.

2. Streamline Your Tax Preparation.

A successful tax business begins with the right tools. Professional tax software provides all the forms you need to support potential clients. It offers diagnostics that assesses the accuracy of the return.

Whichever type of tools you choose, make sure that it makes your workflow easier.

3. Create a Marketing Plan.

If you build it, they will come, right? Not exactly. After you register your business, you will need to begin crafting a marketing plan.

First, identify your ideal client. What is this demographic? Will your services be local?

Once you’ve identified your target audience, begin thinking about how you want to reach your demographic. Digital marketing and SEO tactics are great for making sure your target audience learns about your tax business. If you’re overwhelmed with the marketing process, don’t hesitate to ask for help from SEO and digital marketing experts.

4. Don’t Stop Learning.

You may be an expert at tax preparing but there’s nothing wrong with improving your craft. Start by brushing up on tax law and taking a few tax preparing courses. Having advanced knowledge of tax preparation will allow you to handle more complicated or challenging returns.

5. Offer An Array of Services.

We’re living in a digital age, and you’re competing with free online tax software. That’s why it’s crucial to have a unique selling proposition.

What makes your services unique? What else can you offer your clients?

It helps to offer additional financial services like investment products, auditing, or bookkeeping like accountantcolumbiatnsuccentrix.com/.

Starting a Tax Business is Easier Than You Think.

As you can see here, starting a tax business doesn’t take a huge time commitment. If you’re thinking about starting your career as a professional tax preparer, now is a perfect time.

The Effect Of Mentorship

Contributor

February 10, 2025

by Khari Bodrick, President and Founder – Khari Bodrick Foundation

When Odysseus, King of Ithaca, sailed off to fight in the Trojan War, he left behind his young son Telemachus. To ensure Telemachus would have support and protection in his father’s absence, Odysseus appointed a trusted friend to be the boy’s advocate and guide. The friend’s name was Mentor.

In today’s business world, savvy young leaders who are just starting out often look for the same type of guide Telemachus had — someone who can help them navigate confusing and challenging situations — and they refer to those guides by the same name: mentor.

Mentorship relationships can be hugely beneficial to those seeking to grow their careers and expand their influence. Business icons like Oprah Winfrey, Mark Zuckerberg, Sheryl Sandberg, and Bill Gates all credit mentors with helping them excel.

However, engaging in a mentorship relationship requires an investment of time and energy, which is often in short supply for leaders launching a startup or running a small business. For those considering pursuing a mentorship relationship, the following benefits will help determine whether it is worth the investment.

Mentors accelerate growth

Growth is a learning process. As new leaders face new challenges, they see the skills needed to move forward, and each experience provides the opportunity to test whether their current business intellect and instincts are sufficient to move them forward. The process takes time, but having a mentor to call upon can accelerate it.

The best mentors have been there and done that. They’ve already navigated the minefield that lies between launch and stability, which means they have a map to share. Whereas new leaders may bring an excellent academic understanding to their business efforts, mentors can offer real-world insights obtained through trial and error.

While the wisdom mentors offer isn’t necessarily a cheat code — allowing you to skip levels or obtain supernatural business skills — it can at least help you to identify pitfalls. A mentor’s guidance can help you to steer clear of issues most likely to delay your success.

Mentors provide support

Stress is part of the package for entrepreneurs. Their job requires long hours and a lot of financial pressure, not to mention feelings of isolation. Studies show that the burden carried by entrepreneurs leads to burnout more than 25 percent of the time.

Mentors provide the kind of support needed to avoid burnout by pointing frustrated founders in the right direction and serving as a reminder that the challenges they are facing can be overcome. Even when they just serve as a listening ear — someone to vent to — mentors provide valuable support.

Emotional support — the kind that flows from sharing the same struggles — is one of the key benefits of a mentoring relationship. Many founders turn to business books to gain the type of insights that can accelerate their growth. While that type of “book mentorship” can be extremely beneficial, it doesn’t provide the kind of personalized, in-the-moment support that can buoy business leaders during tough times.

Mentors help keep entrepreneurs accountable

Business success is primarily built on accountability. Stakeholders, including investors, employees, and clients, want business leaders to assume responsibility for their company’s growth — or lack thereof. Trust and credibility grow when they see a leader take ownership of their actions.

But embracing accountability is not easy for the entrepreneur. They often strike out on their own because they want the autonomy, flexibility, and lack of rigid structure the average employee doesn’t experience. To gain their freedom, however, entrepreneurs often shy away from accountability and lose the benefits it can bring to their business.

Mentors can help entrepreneurs to stay accountable. They can play a role in setting clear and reasonable expectations and regularly checking in to ensure they are met. Mentors can also help new leaders understand the value of accountability and envision what can happen when it is ignored.

Mentors instill confidence

Entrepreneurs often chart their own course, which can make it difficult to remain confident that they are headed in the right direction. Mentors can help instill confidence by serving as a sounding board and offering hard-earned insights into which direction will be most rewarding.

Mentors can also help entrepreneurs build confidence when they face fresh opportunities. Opportunities to partner with another company, enter a new market, or bring a proven expert on board can all help young companies build momentum, but these opportunities also pose risks. Mentors can guide entrepreneurs based on their own experience, helping them make more confident decisions.

Today’s entrepreneurs have more opportunities than ever before, with technology tools opening the door to a global market. But navigating the market is complex. Mentors offer new leaders the support and insight they need to find their way, optimize opportunities, and thrive.

Khari Bodrick is an Amazon Best Selling author, entrepreneur, and businessman. In 2022, Khari launched The Khari Bodrick Foundation to mentor aspiring entrepreneurs, award scholarships, and invest in small businesses to help them grow. A mental health awareness advocate, Khari also shares his struggle with anxiety, encouraging others to keep pushing through their paths to success.

How To Monetize Streaming: Strategies For Success In The Gaming Industry

Contributor

February 7, 2025

by John Higgins, CEO — OS Studios

For many, streaming games started as a hobby — the love of gaming melding with the drive to share and find community on social media. Today, streaming is a big business that has grown far beyond streamers sharing their favorite games. In fact, according to ZipRecruiter, today’s average successful streamer brings in over $100,000 a year.

Today, anyone with a camera and a passion for video games can begin a stream and, eventually, grow their engagement to the point where their stream can be monetized. It all begins with making your mark. Before you can start earning from your entertaining streams, you have to learn the ins and outs of entertaining your target market, marketing yourself, and choosing the right streaming platform.

However, the true draw of monetizing game streaming is monetizing your passions. Gaming is a blend of watching sports to appreciate players’ skills and watching late-night talk shows for entertainment. The constant, rich visuals game producers put into their games is the biggest reason gaming dominates the streaming economy — it’s simply fun to watch!

Here, we dive into how to monetize your streams and make a lucrative business out of playing your favorite games for an audience of fellow enthusiasts.

Passion meets profit

With the debut of streaming platforms like Twitch and YouTube, entertainment has evolved. Through streaming, game players can connect with a global audience. From pop culture commentary to music to intense gameplay of the world’s most popular games, streaming has revolutionized the entertainment industry. What once could only be engaged with through television, magazines, or maybe chat rooms could now lead to massive followings and six-figure incomes.

Gamers were some of the first people to take advantage of the power of streaming. Early game streamers predate Twitch, with streamers such as Destiny and Own3d showing others how it was done in the early 2000s. Today, streaming is almost synonymous with gameplay, elevating gaming culture to a top entertainment industry.

Dedication to the craft

Like any social media success story, monetizing game streaming requires a combination of consistent content creation, personal brand development, and follower engagement that sets you — the streamer — apart from the thousands of others who are now trying to make a go of it.

Most streamers are equally dedicated to their social media platforms. They authentically engage with their audiences so fellow gamers can see themselves in their position. Successful streamers have also created a personal brand that resonates with their target audience. Today’s most popular streamers, such as Ninja, Ibai, and Sodapoppin, have become household names by building ultra-successful brands around their streams.

Once branding, engagement, marketing, and consistency are in place, monetization is the next strategy. Monetization is not particularly magical; it follows a path well-worn by those who have come before. A mix of audience growth, planned content, and the leverage of multiple revenue streams can allow streamers to make a living from playing games for others.

Newbie streamers should be cautioned to have patience with the process; a monetized stream will not make you a millionaire overnight. But, with a solid strategy, one can build their streaming slowly and find their financial footing.

Here are the main ways that streamers make their money:

1. Subscriptions and donations.

People can subscribe to your streams through popular platforms like Twitch. Their subscriptions give them access to exclusive content, ad-free streams, and even chat privileges that give them direct access to you.

Remember that it’s not the “best” gamers or esports athletes that make the most money from their streams — that privilege is reserved for the gamers who are most entertaining to watch. The more entertaining your streams are, the more subscribers you gain and, therefore, the more revenue you generate with each stream.

While some streamers also accept donations during special events or celebrations like stream anniversaries, the first North Star in your game streaming career is getting enough subscribers to sustain your lifestyle. From there, you can produce auxiliary revenue through other avenues like talent booking and sponsorships.

2. Ad revenue.

Once you reach a certain follower count, brands will likely start reaching out with ad placement opportunities, which can be integrated into streams through in-stream advertisements or sponsored segments. As one’s audience grows, so does their take from ad revenue.

3. Merchandise.

Many popular streamers have branded merchandise such as t-shirts, stickers, and water bottles. This allows the streamer’s rabid fan base to showcase their loyalty to that particular stream. It’s become incredibly easy to create branded merchandise through online services such as TeeSpring, where you can have your own designs printed on demand.

4. Crowdfunding.

Platforms such as Patreon allow streamers to crowdfund income by offering exclusive perks to fans. These perks can range from behind-the-scenes content to one-on-one game sessions for your most dedicated supporters.

5. Collaborations.

Collaboration with other streamers can increase revenue and boost visibility to a new audience. When these collaborations include sponsored content, the stream can be even more successful.

The future of game streaming

Game streaming has a bright future, and the market will only grow as new platforms, technology, and games emerge. No matter what your favorite game is, live streaming can be a path to creative and financial freedom. By staying authentic, connecting with your target audience, and choosing the proper revenue streams, you can turn your passion for gaming into incredible, consistent profits.

John Higgins is the CEO of OS Studios, a global creative marketing agency specializing in video gaming and esports. Under his leadership, OS Studios has won numerous awards, including Webby, Clio, and the EventEx Awards. The studio has also been nominated for an Emmy. John was honored with the Digiday Leader of the Year Award and has produced two of the top 10 hottest tickets in London, according to TimeOut. He has been a highly sought after source of expertise in marketing, advertising, and global trends in sports, gaming, and entertainment, with features in Business Insider, Digiday, Ad Age, and The Drum.

Why Traditional Vision Statements Fall Short… And How To Dig Deeper

Contributor

February 6, 2025

by Drew Yancey, PhD, Founder & CEO at Teleios Strategy and co-author of “ Leading Performance… Because It Can’t Be Managed: How to Lead the Modern Workforce”

All too often, traditional vision statements fall short due to vagueness, misalignment with values, or lack of communication. Unsurprisingly, the effectiveness of traditional vision statements is undermined by several common pitfalls:

Lack of Specificity: Generic visions fail to provide actionable clarity, leaving employees disconnected from the broader organizational goals.
Misalignment with Core Values and Culture: Visions that do not reflect the company’s values risk eroding authenticity and trust.
Communication Gaps: Poor dissemination of vision leads to disengagement, with Gallup reporting only 22% of employees strongly agreeing that their company has clear direction.
Exclusion of Stakeholders: A lack of inclusive vision development results in poor resonance and ownership among key players.
Static Nature: Failure to adapt the vision to external market dynamics and internal growth erodes its relevance.

The Vivid Vision as a Solution

Unlike static mission statements, a Vivid Vision approach transcends limitations. It’s one that’s dynamic, specific and deeply integrated with the organization’s purpose, values and strategy.

Rife with inspiration and specificity, a Vivid Vision is a detailed and compelling description of what a business aims to achieve in 3-5 years, answering the question: What does amazing look like? This methodology addresses shortcomings of traditional vision statements in numbers ways. This includes offering detailed imagery of the future business; aligning with core values and strategic priorities; encouraging stakeholder involvement to build commitment; and remaining adaptable to evolving circumstances.

The Role of Vivid Vision in the P2E Process

A Purpose-to-Execution (P2E) process focuses on translating a company’s purpose into actionable strategies and measurable outcomes. A Vivid Vision bridges the gap between high-level purpose and day-to-day execution by providing a clear framework for decision-making and resource allocation.

Things like:

Anchoring Purpose and Values – The vivid vision grounds the organization’s strategy in its fundamental “why.” Purpose-driven companies grow 3x faster than their competitors, but this growth is only sustainable when aligned with core values. The vivid vision ensures that all strategic initiatives reinforce the company’s foundational principles.

Fostering Alignment Across Teams – With detailed goals and vivid imagery, the vision aligns employees at all levels, ensuring that efforts are cohesive rather than fragmented. This alignment is especially critical for businesses that are large enough to face bureaucratic inefficiencies but small enough to lack the resources of large enterprises.

Enabling Decision-Making with Clarity – Decision filters derived from the vivid vision simplify choices by asking, Does this align with our desired future? This clarity prevents resource dilution and enables a focused approach to execution.

Driving Strategic Focus – A vivid vision narrows the organization’s priorities, helping leaders adopt a “great = few” mindset rather than spreading resources too thin. Research indicates that companies with fewer than three strategic priorities achieve significantly more than those pursuing broader agendas.

Inspiring Innovation and Engagement – By painting a compelling picture of the future, the vivid vision inspires employees, fosters a culture of innovation, and attracts top talent and investors.

Key Components of a Vivid Vision in the P2E Framework

To integrate a vivid vision effectively into the P2E process, it must include the following elements:

Detailed Description of the Future – Cover aspects like culture, customer experience, and market positioning in specific terms. For example, a technology firm might envision becoming “the leading AI solutions provider for mid-market businesses, renowned for innovation and customer-centricity.”

Alignment with Core Values – Ensure that the vision reinforces the company’s core values and aligns with its overarching purpose. This alignment fosters authenticity and consistency.

Inspirational and Motivational Narrative – Engage employees and stakeholders by describing an aspirational yet attainable future.

Strategic Priorities and Measurable Milestones – Include benchmarks to track progress, breaking the long-term vision into manageable short-term objectives.

Adaptability to External Changes – Build flexibility into the vision to accommodate evolving market conditions, technological advancements, or competitive shifts.

Inclusiveness – Incorporate perspectives from key stakeholders, including employees, customers, and investors, to enhance ownership and buy-in.

Clear Communication – Translate the vivid vision into actionable messaging that can be easily shared across all levels of the organization.

5 Practical Steps to Implement a Vivid Vision in P2E

Define Purpose and Values First – Begin by identifying the core “why” of your organization. Use tools like the Purpose Prism to align stakeholder needs with your value proposition.
Craft the Vivid Vision – Collaborate with stakeholders to write a detailed narrative describing your desired future. Ensure it addresses all aspects of the business, from culture to market impact.
Align Strategy and Execution – Break the vision into strategic priorities and execution plans. Ensure every department understands its role in achieving the vision.
Communicate Relentlessly – Use storytelling, visual presentations, and regular updates to keep the vision top-of-mind across the organization.
Monitor and Adjust – Regularly review progress against milestones and adapt the vision as necessary to remain relevant and impactful.

The Vivid Vision as a Strategic Catalyst

Relative to business growth, the vivid vision offers a vital compass, guiding organizations toward sustainable success. By integrating the vivid vision into the P2E process, companies can achieve clarity, alignment and focus, turning challenges into opportunities for innovation and growth.

The question for leaders is not whether to create a vivid vision, but how vividly can you imagine — and communicate — what amazing looks like?

Drew Yancey, PhD is Founder & CEO at Teleios Strategy, a premier strategic planning, leadership development, executive coaching and succession planning advisory firm. With a proven track record in high-performance team building and strategic execution for over 15 years, Yancey solves challenging problems at the nexus of growth, strategy, and innovation. Yancey is also the co-author of “Leading Performance… Because It Can’t Be Managed: How to Lead the Modern Workforce,” and a frequent keynote speaker. Reach him at www.teleiostrategy.com.

Four Predictions For Customer Experience In 2025

Contributor

February 6, 2025

by Sudarshan Dharmapuri, Vice President, Product Management for Webex Customer Experience Solutions Cisco

As customer experience leaders make plans for 2025, it’s important to anticipate what’s around the corner and assess how future developments might impact customer experience (CX) strategy and execution.

For many organizations, delivering outstanding CX remains a difficult challenge; a recent global study by Cisco showed that many customers feel let down by the experiences they receive from brands. Only 25% of customers said they were very satisfied with their last service engagement — and 94% have abandoned interactions due to poor experiences.

This paints a clear picture of the gap between customers’ expectations and brands’ ability to deliver. However, in 2025, this picture will start to change, thanks to the convergence of four key trends that will reshape the CX landscape.

1. AI agents will revolutionize self-service.

The advancements in AI we’ve seen in recent years will continue to accelerate in 2025, and automated customer engagement solutions will become more intelligent. A new generation of AI agents will provide highly personalized, conversational self-service options across voice and digital channels.

Unlike existing virtual agent solutions, advanced AI agents will engage customers in intelligent, human-like conversations rather than robotic service interactions — and offer faster, more effective resolutions. By focusing AI on intelligent customer engagement rather than simple call containment, forward-thinking contact centers will remove frustration for customers and free human agents to handle complex, sensitive, or high-value interactions.

In 2025 brands will increasingly adopt AI agents that embody their unique values, personality, and purpose. These AI-driven representatives will engage with customers in ways that are deeply aligned with the brand’s ethos, ensuring interactions are authentic, meaningful, and memorable. By leveraging AI to reflect their core values, brands will create more consistent and emotionally resonant customer experiences. This year, AI will be woven into the fabric of everyday customer service operations – including AI agents that have natural voice capabilities and the ability to act on customer requests. This will drive efficiency, personalization, and satisfaction to unprecedented levels. This mainstream acceptance will not only elevate the customer experience but also set new standards for engagement, making AI an indispensable tool for customer service.

New solutions will also make it much easier to build these AI agents, accelerating time to value for powerful self-service experiences that customers love. Prebuilt templates and low-code or no-code tools will enable organizations to rapidly expand effective self-service experiences without putting a major strain on resources.

AI will move from being the preserve of technical specialists to becoming accessible to generalists within enterprises, empowering a broader range of employees to leverage AI. This democratization of AI will enable business generalists to utilize AI-driven tools to make informed decisions, optimize workflows, and enhance customer interactions without needing deep technical expertise.

Cisco’s global study showed that 79% of CX Leaders (companies with the highest business performance) have an AI virtual agent — but only 7% of Laggards do.

2. Hyper-personalization will become table stakes for CX.

Another key area where AI advancements will have a major impact is personalization. AI will make it far simpler for organizations to unlock insights from the wealth of customer data generated by their contact centers, helping them anticipate customer needs, appeal to their preferences, and create more upsell and cross-sell opportunities. Leading organizations will use these AI capabilities to deliver hyper-personalized experiences that transform CX, boost NPS and CSAT scores, and build long-term customer loyalty.

With the right AI-powered tools, organizations will be able to orchestrate and automate hyper-personalized customer journeys and seamless experiences as customers move between channels and automated and human-assisted interactions.

The shift towards personalized AI will not only empower users with more efficient and tailored communication but also anticipate their needs, making interactions more intuitive and proactive. This evolution will significantly enhance the overall customer experience, creating a more dynamic and responsive digital environment.

One important component of these hyper-personalized experiences will be proactive communications. Brands that proactively engage customers with automated, personalized communications will build satisfaction and loyalty by showing customers they’re known and valued and solving issues before they occur. For example, sending customers helpful, timely reminders about upcoming appointments or payments — and allowing them to respond in the same channel — eliminates customer effort (and reduces inbound inquiries).

As adoption grows during 2025, these proactive experiences will become the norm, creating heightened customer expectations around how brands engage with them.

61% of CX Leaders deliver proactive communications using AI. Only 6% of Laggards do.

3. RCS adoption will skyrocket.

Over the last few years, more brands have enhanced their customer interactions with Rich Communication Services (RCS). But now that RCS is supported on iPhone as well as Android, its reach has expanded dramatically, offering businesses a messaging channel that’s now native to billions of devices worldwide.

In light of this, we expect to see a significant increase in RCS adoption in 2025 as more businesses than ever realize the value it can offer. Over the next 12 months, RCS will stake its claim as the industry standard for business messaging — and when you consider its capabilities, it’s easy to see why.

With support for rich media and interactive components, RCS allows businesses to create engaging, two-way experiences for everything from promotions to appointment reminders. And with end-to-end encryption, and verified and branded sender profiles, RCS is also an ideal way to build customer trust.

It is predicted that in 2025, the landscape of mobile communication will be transformed as RCS expands its reach, unifying Android and iOS devices under a common standard for both P2P and A2P interactions. With major operators set to launch RBM for iOS globally, it is anticipated that reach will more than double, marking a new era of seamless and rich messaging experiences across platforms.

4. CX data will have to become unified.

Optimizing CX with AI agents and hyper-personalized experiences across multiple channels — including RCS — will require unified customer data. In large, complex organizations, unifying data is far from simple, but without a holistic view of customer data, it will be impossible to deliver the intelligent, connected experiences customers demand.

This year we expect to see organizations making significant progress toward unifying data from disparate sources to create a complete view of every customer journey. By unifying data from multiple enterprise systems and engagement channels, organizations will transform their customer service and communications capabilities.

With easy access to relevant, up-to-date information, human and AI agents will be able to identify the fastest path to resolution and handle customer inquiries efficiently, effectively, and confidently.

A full understanding of every customer’s preferences and needs will enable brands to realize the full value of their AI investments, anticipating issues and reaching out proactively to make customers’ lives easier and build trust.

Holistic insights into customer journeys will also allow organizations to identify emerging trends, hidden friction points, and opportunities to optimize experiences with intelligent, personalized, and helpful interactions at every touchpoint.

The return on investment of AI in enhancing customer experience will become a critical topic in boardroom discussions, with executives prioritizing AI investments that demonstrably improve customer satisfaction and loyalty. By the same token, AI use cases that have not proven business outcomes will fall by the wayside.

As you plan for the year ahead, it will be important to determine how to take advantage of these key trends.

Sudarshan Dharmapuri is VP Product Management for Webex CPaaS Solutions, previously imimobile. Sudarshan has a proven track record of conceptualizing, defining, building and launching successful new enterprise software products in both emerging and established market categories. Prior to Cisco and imimobile, Sudarshan worked in engineering and product management roles at Oracle and Siebel Systems in the Silicon Valley.

Hong Kong, Singapore, Or Dubai: Which City Fits Your Business Best?

Contributor

February 4, 2025

by Nestor Garcia, Head of Global Company Creation at Statrys

When expanding internationally, one of the first steps for small business owners is deciding where to incorporate. Hong Kong, Singapore, and Dubai are popular options, each with its own strengths and challenges. This article will help you understand the differences between these three business hubs, focusing on factors like ease of incorporation, regulations, and taxation.

By comparing these regions, you’ll gain a clearer idea of which location suits your business goals best.

Incorporation: What to Expect in Each City

The process of setting up a business varies across these three locations. Hong Kong allows for quick incorporation (3–5 days) with no capital requirements, making it ideal for companies wanting to start swiftly. It also has flexible foreign ownership laws, making it a straightforward choice for international businesses.

Singapore offers a seamless online registration system, requiring a local director and minimal capital. It’s known for efficiency, with most businesses set up within a day. Singapore’s clear and transparent procedures support businesses focused on tech and innovation.

In Dubai, incorporation timelines differ depending on whether you’re setting up in the mainland or a free zone. Free zones offer the most advantages, such as 100% foreign ownership and full profit repatriation, although mainland setups may require a local sponsor. While Dubai’s process can take a bit longer (3–14 days), it provides strategic access to the Middle Eastern market.

Takeaway: If you need fast, easy incorporation, Hong Kong or Singapore might be better fits. If complete ownership and tax-free operations are more important, Dubai’s free zones are worth considering.

Navigating Regulations and Taxes

Regulatory landscapes can shape your decision. Hong Kong and Singapore are recognized for their transparent regulations, which make compliance straightforward. Hong Kong’s regulations are particularly appealing for financial services, while Singapore’s regulatory environment supports tech startups and R&D.

When it comes to taxation, Hong Kong offers low rates (8.25% on the first HK$2M) with a simple territorial tax system, meaning only income earned locally is taxed. Singapore has a flat 17% corporate tax, but generous incentives are available, especially for R&D activities. In Dubai, the 0% tax in free zones makes it an attractive option for maximizing profitability, though the process for opening bank accounts can be slower.

Takeaway: Hong Kong and Singapore offer a balanced blend of clear regulations and reasonable taxes, making them suitable for businesses seeking transparency. Dubai, however, offers unbeatable tax benefits, especially for companies aiming to enter the Middle East.

Balancing Cost of Living and Business Needs

Cost of living and lifestyle factors also matter. Hong Kong is known for its vibrant business culture but it comes with a higher cost of living. Singapore offers a high quality of life, excellent healthcare, and a strong educational system, making it ideal for expats with families. Dubai combines affordability with safety, offering a tax-free salary and a diverse expat community, though cultural differences may require some adaptation.

Takeaway: While Hong Kong offers unbeatable access to Asian markets, it’s one of the priciest cities. Singapore’s quality of life makes it a great choice for long-term business settlement. Dubai, with its lower living costs and safety, appeals to those looking to balance business goals with a cost-effective lifestyle.

Conclusion & Practical Insights

Each of these cities has strengths that cater to different business needs. Hong Kong works well for fast-paced, trade-focused businesses, Singapore is ideal for tech-savvy ventures, and Dubai suits businesses looking for tax efficiency and regional expansion.

Takeaway: Define your business’s short-term needs and long-term strategy, then match them with the location that aligns best. Whether it’s speed, tax advantages, or access to specific markets, let your business priorities guide your decision.

For a more detailed comparison of incorporation in these regions, you can read the full Statrys report.

Nestor Garcia is Head of Global Company Creation at Statrys. With a diverse background encompassing hospitality, product development, marketing, and fintech, he possesses a solid foundation in operations, proficiency in project management and agile methodologies (particularly Scrum), and a demonstrated ability to foster enduring client relationships. Nestor assists SMEs in establishing a global presence by creating compliant and well-structured companies in Hong Kong and Singapore, providing access to the extensive financial, industrial, and safety benefits that both cities has to offer.

Working Remotely With A Personal Computer: Tips For Security, Maintenance, And Productivity

Contributor

February 2, 2025

by Vinicius Perallis, CEO – Hacker Rangers

The personal computer is inarguably one of the most valuable items in the entrepreneur’s toolbox. It provides access to the platforms where market research, project management, and content creation occur. It also serves as the hub for online sales, financial operations, and client meetings. And when you need to disconnect, it serves up the distractions you need on YouTube, Reddit, or whatever social platform you find most appealing.

Maximizing the performance of your personal computer, however, requires some work. Entrepreneurs and others working remotely who want to get the most out of their personal computers should consider the following tips for security, productivity, and maintenance.

Step 1: Make sure the computer is secure.

Office workers typically have the help of an IT team and an IT budget to ensure their computers are secure. Entrepreneurs usually need to address those needs on their own. While managing security can be challenging with the myriad of other tasks on their plates, you should make it a priority. One breach can cause data loss, business disruption, and financial hardship.

The first step in keeping computers secure is keeping operating systems and software up to date. Developers invest a lot of resources in identifying vulnerabilities in their products to prevent cybercriminals from exploiting them. If they find a flaw, they fix it and issue updates to ensure users remain safe. Install updates as soon as they are available to ensure your systems are as secure as possible.

Antivirus software is also critical for keeping computers secure, especially software that detects and blocks malware. Experts estimate that 350,000 new threats involving malware and other potentially unwanted applications are released every day. The most effective antivirus programs will provide real-time protection and automatic virus definition updates.

Paying close attention to password hygiene is another important step for keeping your computer secure. Protect each account with a strong and unique password and multi-factor authentication whenever possible. You should also set up a regular schedule to check whether your password remains secure and hasn’t been compromised.

Step 2: Protect your computer from mechanical damage.

While a wide range of factors can affect how long a computer lasts, the average lifespan is considered to be somewhere between three and eight years. To see yours hit the high end of that range, you’ll need to take steps to maintain it.

Cleaning your computer regularly is essential for extending its life. Dust, crumbs, and other foreign elements that enter the computer housing can damage internal parts.

Working at remote locations with a laptop — at coffee shops, coworking sites, and elsewhere — is common for entrepreneurs. If that is your routine, invest in a carrying case that protects your computer from damage resulting from a bump or a drop. Using a VPN when connecting to a public network adds an extra layer of security, helping to protect you from cybercriminals.

Preventive maintenance can also help to extend the life of your computer. A specialized technician can run diagnostics that reveal when components are not performing optimally. Replacing a fan or hard drive before it fails can save you a lot of downtime and frustration.

Step 3: Leverage features to optimize productivity.

Today’s computers can do much more than facilitate access to business tools. By leveraging the right applications and features, entrepreneurs can create a digital assistant capable of optimizing their productivity.

Taking advantage of automation tools is one way to leverage your computer for better productivity. These tools can range from email programs that automatically sort incoming messages to online conferencing platforms that automatically transcribe meetings and highlight elements in need of follow-up.

Using your computer’s notification tools is an easy way to improve your productivity. They can remind you that a meeting is coming up (and what you need to do to prepare for it), when an email has gone unanswered, and when a colleague has completed an element of a project and thrown it back to you. Notifications help to make sure nothing falls through the cracks.

Your computer can also help you find your optimal work rhythm by tracking your productivity and suggesting how to improve it. Several apps monitor the programs you use, how much time you spend on them, and when you accomplish the bulk of your work. These programs can help you see when you are at your best and when you need to take a break.

For most entrepreneurs, the computer plays a critical role in their work. Consequently, it must be kept secure and well-maintained. Investing time to care for your computer will ensure that you optimize not only its performance but also your own.

Vinicius Perallis is an expert in cybersecurity and CEO of Hacker Rangers, a company focused on fostering cybersecurity practices within businesses using gaming techniques. As the visionary behind Hacker Rangers and a passionate enthusiast of gamification, Vinicius has effectively introduced training programs to over 250 companies in Brazil and worldwide.

Conflict Management Tips For Managers In The Workplace

Contributor

January 31, 2025

by Stephanie Licata, Learning Strategist at Cloverleaf

Let’s face it. We’ve all had conflicts in the workplace. Whether they are small or large, conflicts are a natural part of work and unavoidable. Even the most favorable environments will occasionally end up with team members who are at odds with one another. However, when teams view conflict with the right perspective, they can use it as an opportunity to improve communication, interpersonal relationships, and the culture of the organization.

Successful conflict management as a manager can go a long way towards realizing these benefits. By understanding and implementing effective conflict resolution strategies, managers and leaders can foster a work environment that thrives on diverse perspectives and ideas without letting disagreements hamper productivity.

What is Conflict Resolution And how does it work?

Conflict resolution in the workplace is a process that two or more parties can follow to find an amicable resolution to their disagreement. The process can be formal or informal. And, keep in mind, Aas a manager, your company may have a defined conflict resolution process in place for you to implement.

In conflict resolution, every step you undertake is aimed at addressing disagreements, whether it’s between you and a direct report or among team members. Effective compromise is a hallmark of strong leadership.

Successful conflict resolution can be broken down into:

Identifying the Root Causes of the Conflict
Crafting Effective Solutions to Address these Causes
Leveraging Conflict Management Tools

By gaining experience in these three domains, you’re well-equipped to navigate any disputes that arise in your professional journey. This expertise will cement your reputation as a fair mediator, adept at crafting balanced solutions for various conflict scenarios.

7 Common Triggers of Conflict in the Workplace

Understanding the root causes of conflict is pivotal for people leaders when equipping managers with the tools and strategies to handle disputes adeptly. The factors influencing disagreements can range from interpersonal dynamics, age demographics, and industry-specific stressors to external personal pressures.

Here’s a deep dive into some prevalent conflict triggers, coupled with actionable insights for managers:

1. Poor Communication.

Often, poor communication skills are one of the main causes of conflict. When people disagree on policies, procedures, schedules, tasks, and other details, it can easily escalate into an argument that strains relationships and decrease collaboration among teammates.

You may also see employees who have a difficult time communicating with their coworkers and may come off as aggressive or passive-aggressive. Sometimes trying to talk with one another is an exercise in frustration. If the company has inefficient or obsolete communication tools, this only adds to the stress when trying to convey information effectively.

2. Unclear Expectations.

Every team member needs to understand their expectations, or their assumptions can lead to unseen conflict. Suppose two staff members have wildly different expectations about who is responsible for what, the tasks that are priorities, and the time required to do each item on the list. Varied assumptions among team members inevitably sow the seeds of conflict. Differences in perceived responsibilities, task priorities, or expected timelines can lead to issues. Regular alignment meetings, clear role definitions, and consistent feedback loops can keep everyone on the same page.

3. Unrealistic Workloads.

Long stints of overtime or being in crunch mode constantly will wear people out, even high-potential employees. When employees are unable to take a long-term look at a project or the tasks they’re doing, they have to operate in the moment at all times, without a minute to catch their breaths. The burnout from project stress can create a workplace ripe for conflict. You may see that people are short-tempered, aggressive, frustrated, and have poor judgment. If you’ve reached burnout and want to heal, check out the 5 Stages Of Burnout Recovery to learn more.

4. Personality Issues.

Every individual is unique, bringing their distinct personality, experiences, and aspirations to the team. Sometimes, you may observe certain personalities, such as two highly competitive team members, seemingly at odds with each other. However, the beauty of diverse teams lies in their potential to harness these differences.

On some occasions, strong personality clashes might give the impression of a challenging work environment. However, challenges present an opportunity for growth. Understanding and respecting individual preferences and aligning strategies can transform potential conflicts into avenues for teamwork and productivity.

5. Defensive Dispositions.

Some employees may take constructive criticism and other forms of feedback as a personal attack. When their work or ideas don’t get the expected reaction, they may take a defensive stance and argue about why they’re right. Managing conflict means reassuring the person that the feedback is intended to help, not hurt them. One tool that can help leaders provide customized, accurate feedback is DISC. To learn more, check out the post: Leveraging DISC Profiles For Effective Work-Related Feedback.

6. Inconsistent Procedures.

How often do workflows, policies, and procedures help change your organization? If employees need to relearn how to do basic work tasks regularly, they’ll never figure out a routine that works best for their productivity. Misunderstandings about new ways of doing things can lead to conflicts without a good solution, especially if the new policies can be interpreted in different ways.

7. Concerns About Past Work Experiences Repeating.

Employees’ perspectives are not based solely on their workplace experience. People bring all of their professional and personal histories with them, which can influence how they respond to conflict. Toxic work environments, abusive coworkers and bosses, and other bad experiences can lead someone to react poorly in conflict situations. As a manager of people, understanding that your team members are whole people can help you create a workable solution for everyone involved.

By understanding these triggers and equipping managers with strategic solutions, people leaders can pave the way for a harmonious, productive, and progressive workplace.

14 Conflict Management Tips for Managers & Leaders

Successfully navigating conflicts hinges on possessing the right set of skills. As a manager or leader, having these tools in your toolkit allows you to adapt and respond aptly to diverse situations. Conflict resolution isn’t a one-size-fits-all approach. It’s a dynamic process that takes into account individual relationships, team dynamics, and the broader organizational context.

People react to conflict differently: some vent their frustrations and then move on, while others ruminate on disagreements, letting them taint future interactions and potentially fostering a passive-aggressive work environment. Employing the right management skills and solutions is crucial to addressing such issues head-on.

Below, discover the leading methods and skills to effectively resolve workplace conflicts.

1. Identify the source of the conflict.

To effectively resolve a disagreement, it’s crucial first to understand its origin from all involved parties’ viewpoints. Grasping the underlying issues paves the way for constructive solutions and resolutions.

2. Adopt a positive perspective on conflict.

How you perceive conflict can greatly influence its outcome. If you see it merely as a time-consuming hurdle or an inevitable downside of teamwork, you risk escalating issues, whether through neglect or mishandling. Instead, embrace conflict as an opportunity to gain deeper insights into your team’s dynamics, needs, and reactions. It’s an avenue to bolster employee engagement and fine-tune team direction. Prioritize understanding your team’s individual work styles and motivations — doing so can provide invaluable context during conflict resolution.

3. Practice Active Listening.

Truly understanding an issue requires genuine listening. Make it a point to deeply hear out the parties involved, seeking clarity through thoughtful questions. Recognizing potential external influences or uncharacteristic behaviors can be key. Your primary role at this stage is to ensure everyone feels acknowledged. Once you’ve thoroughly gathered insights from all sides, you’ll be better equipped to formulate a conflict resolution strategy.

4. Facilitate Productive Conversations.

An aspect of listening requires assuming the role of guiding a constructive conversation. Encourage individuals to articulate their experiences and feelings, as this can often unveil miscommunications or the root causes of the disagreement. Strategic questioning can further propel the discussion, steering all parties toward a mutual resolution.

5. Use Empathy.

Understanding isn’t just cognitive — it’s emotional. Strive to genuinely feel the emotions and perspectives of those involved. By aligning with their sentiments and ensuring they know their feelings are recognized, you build trust and openness, which are essential for effective conflict resolution.

6. Serve As A Mediator Between Team Members.

Effectively mediating conflicts between team members is a hallmark of adept leadership. Facilitating a calm and open environment where aggrieved parties can communicate is paramount. Successfully mediating helps address issues head-on, preventing them from snowballing into larger challenges.

7. Take Accountability for Your Words And Actions.

Should you find yourself at the center of a conflict, taking ownership of your actions is crucial. Even unintended missteps can escalate situations; acknowledging them is the first step toward resolution. Demonstrating this level of responsibility paves the way for others to adopt a constructive approach to conflicts.

8. Be Transparent and Open.

Prioritizing transparency is pivotal in conflict management. By being clear and open about your decision-making processes in resolving disputes, you can sidestep potential claims of favoritism or bias. Regularly update all involved parties about the status of the resolution, reinforcing an atmosphere of trust and understanding.

9. Genuinely Engage in The Process.

Your team seeks authenticity, not a rehearsed dialogue. Address issues by tuning into the specifics of each situation and the individuals involved. Tailor your methods to acknowledge and address each individual’s unique circumstances and conflict resolution styles.

10. Frame Discussions with Objectivity.

When discussing conflict, anchor conversations in facts rather than emotions. For instance, state, “Our objective is to reach a consensus on the printer’s location.” By centering on the clear end goal, you streamline the resolution process and align everyone’s focus toward a common target.

11. Incorporate Change Management into Your Culture.

Should disagreements stem from changes in workplace protocols or systems, prioritizing robust change management is key. Change management isn’t merely about implementing shifts but ensuring smooth transitions. This involves equipping employees with the necessary training, clarity about updates, and platforms to voice their feedback, ensuring they’re not just bystanders but active participants in the change.

12. Use Emotional Intelligence.

Emotional awareness not only aids in understanding your team’s underlying feelings and sentiments but also gauges their satisfaction with resolutions. Furthermore, this quality enhances workplace relationships, often distinguishing effective leaders who genuinely connect with their teams.

13. Evaluate How Things Are Going.

Consistently engage with the individuals involved in the conflict. Regular check-ins offer an accurate pulse on their feelings and provide an avenue to ensure conflicts remain resolved.

14. Recognize When To Make Tough Decisions.

There are instances where reconciliation seems unattainable. Persistent arguments, underlying tension, or disruptive behavior can deteriorate the workplace atmosphere. In such cases, it may be necessary to consider reassigning individuals or, in extreme situations, making the difficult decision to part ways with an employee to maintain a positive work environment.

Effective conflict management is about addressing disputes and fostering a proactive, transparent, and emotionally intelligent workplace culture. With tools like Cloverleaf, organizations are empowered to navigate conflicts and prevent them, ensuring teams remain cohesive, productive, and harmonious. As managers and leaders, embracing both preventive and corrective strategies ensures a dynamic, engaged, and resilient team capable of driving unparalleled success in any industry.

Stephanie Licata is the Learning Strategist at Cloverleaf whose whole career has been around training programs. With nearly two decades of combined management, leadership development, and education experience, she is a multi-faceted learning, leadership, and organizational development professional, training specialist, and ICF Certified Coach with a Master’s in Organizational psychology from Columbia University.

How To Negotiate Compensation

Contributor

January 30, 2025

by Jim Camp Jr., Author – “Lead From No”

Growing your startup typically involves hiring staff, and hiring staff typically involves negotiations around compensation. Consequently, negotiation is a skill that startup founders should invest time in developing. By becoming a more effective negotiator, you can get the talent you need without making concessions that leave you overextended.

One of the biggest mistakes founders can make as they negotiate is assuming financial compensation is the most important to their candidate. It may be, but there may also be other issues influencing potential employees’ decision-making. Examples are their ability to grow, promote, work remotely, and be inspired by you and your product or service.

Identify the negotiation purpose

Startup founders, like any other business leaders seeking an agreement, must start by identifying an overall mission and purpose with each teammate. Ask yourself, “What am I trying to help this candidate see and discover? How do they benefit from joining our team?” Although it’s tempting to focus on the results you’re hoping for, the key to any successful negotiation is the vision you uncover and create. Allowing yourself to feel that you “need this person” is a mistake.

Equally dangerous is assuming what it will take to get them on board. Ask good questions to eliminate your preconceived notions. Don’t talk “to” them; listen. What you hear is far more important than what you say.

By adopting the mindset that negotiation is simply the effort to reach an agreement with two or more parties having the right to “veto” or the right to say “no,” emotions lower on both sides of the interview. As part of the interview process, ask why the potential hire applied. Questions such as, “What prompted you to take the interview in the first place?” will get them talking. You won’t be able to prepare a meaningful compensation package if you don’t honestly know what matters to the applicant. Do they want to relocate? Do they need better growth opportunities? Maybe they left their last position because their former company went under and are looking for more stability. Or perhaps they just had their first child and are looking for flexibility.

Help them see the opportunity you provide, how you’ll deliver it, and how they will succeed if you both determine it’s a good fit. Stay centered in their world, not yours. This is the best way to determine precisely what’s important to them. You may discover something you didn’t anticipate. In the end, you might reach a far more beneficial agreement than you ever imagined. If you reach an impasse, don’t panic. Ask a question such as, “Where are we falling short? What’s the real problem that we’re trying to solve?”

As you identify their problem — whether a lack of growth opportunities, flexibility, or healthy company culture — you can determine if you’re willing to offer a solution. Keep in mind that your posture and behavior during this negotiation are critical. Honesty, sincerity, and remaining respectful of their decision are not only good for any negotiation but also make you a more impactful leader.

Prioritize the compensation factors

As you gain a deeper understanding of the applicant’s motivation, you’ll be able to prioritize the various factors involved in compensation. Salary or other financial factors are often just part of the puzzle rather than the highest priority. In fact, recent studies have shown that the majority of workers value culture over salary when it comes to job satisfaction.

If you know that the candidate is primarily looking for a growth opportunity that you can provide, highlight it and give them as many details as possible. Instead of hitting them with this right from the start, be patient. When you have their vision first, you can tailor your presentation to the vision they’ve shared with you. You may find that compensation is not the most important issue.

Tap into the applicant’s emotions

To truly excel at negotiations, it is critical to understand that every decision involves emotions. If you can control your emotions, you have a better chance of successful negotiations, which is why identifying your negotiation purpose and focusing on the world of your candidate is so valuable. Identifying your purpose beforehand empowers a systemic approach rather than an emotional approach.

When interviewing candidates for your startup and negotiating compensation, you should strive to get them to make the emotionally driven decision that they want to work for your company by helping them see that you have the solution to their problem. Show them you can address their pain points. Once they decide your position is the solution they have been looking for, financial compensation becomes just a detail to be worked out.

Compensation will always be an issue that must be addressed in the hiring process, especially for start-ups. When negotiations are necessary, founders should seek to define their purpose, understand the candidate’s vision, and appreciate the role that emotions will play. Following those steps can uncover problems and decide if the applicant is a good fit. Remember, if you hear “no,” it’s not over — it’s a decision that can be changed.

When you hear what you perceive as a final “no,” stay calm and ask, “Where are we falling short?” If you want this person on your team, you will ultimately decide when the negotiation ends. Don’t fall prey to unnecessary compromise by offering more than what’s required when you feel the deal slipping away.

Jim Camp Jr., Author of “Lead From No” and Co-owner of Camp Negotiations, is a retired Major General in the United States Air Force who served for many years as the Commander of the Ohio Air National Guard and National Guard Assistant to the Commander of the US Transportation Command. In the corporate world, Camp helped build Camp Negotiations as a coach and contributor to the book, “No: The Only System of Negotiation You Need For Work and Home.”

Supporting Women In The Workforce: Why We Need To Do More

Contributor

January 29, 2025

by Becky Heidesch, founder of WSS Executive Search and author of “The Career Masterclass for Women: Staying Marketable and Succeeding in a Changing Business World“

As with many aspects of life today, career management has become complex and overwhelming. With a rapidly evolving work and business climate, AI, quantum computing, economic and geopolitical uncertainties, and mounting career risks – knowing how to manage a career is frightening and confusing. And, for women, the challenges are even harder!

Today, over 70 million women are part of the US labor force, and approximately 1.3 billion women are working globally. Despite these numbers, women still lack the support, opportunities, and resources needed to thrive in their careers. Since 1970, the number of women with college degrees has quadrupled, yet they continue to struggle with closing the pay equity gap, attaining leadership positions, and entering the boardroom. Female entrepreneurs and business owners also face significant challenges in securing essential funding.

The Impact

Running from behind and forced to play catch-up, 62% of women expect to retire later than originally planned or fear they may never be able to retire due to inflation, compared to 47% of men. With women working longer and often juggling children or aging parents, it’s crucial to provide them with the support they need and deserve which is why I wrote “The Career Masterclass for Women“.

With the complexities and challenges women continue to face, getting the support they need is vital to increasing their opportunities and ensuring their success. To understand both the unique challenges women face as well as how they affect earning potential.

Consider the following:

While women represent 47 percent of the workforce, they represent 24 percent of C-suite positions.
A Robert Half study found that only 45 percent of women negotiated their salaries, compared to 68 percent of men.
A Harvard Business Review study found that women were often viewed as “pushy” or “difficult” when negotiating.
While women represent 47 percent of the workforce, they represent 24 percent of C-suite positions.
Research by Julian Zlatev suggests that the higher a woman rises through a company, the more backlash she faces in assertively negotiating her salary, and the more likely she is to reach a worse deal.

While there has been progress in closing the negotiating gap, The National Committee on Pay Equity estimates that “over a working lifetime, this wage disparity costs the average woman and her family an estimated $700,000 to $2 million, impacting retirement pensions and social security payouts”.

Empowering Women to Control their Destiny

Companies must do more to support the needs of their female workers. Empowering women, whether starting out, starting over, or striving to stay competitive and relevant is crucial to building strong companies and secure families. All women can benefit from learning how to incorporate a solid framework for navigating their career journey, from employer and career choices, job security, marketing oneself, and staying qualified. In today’s new world of work, we need to show more women how to succeed, help them protect their careers and financial futures (on and offline), and be prepared to pivot at a moment’s notice – which sometimes means knowing how to create their next opportunity!

When women have the support and tools needed to build, manage, grow, or change their career in any field or industry, at any time – they will not only succeed but everyone wins!

Becky Heidesch is Founder of WSS Executive Search and the author of “The Career Masterclass for Women: Staying Marketable and Succeeding in a Changing Business World“. With over 30 years of career management experience and the founder of several niche businesses, Heidesch is leading the way in helping people navigate a new world of work.

[Interview] Joseph Rallo, Co-Founder Of EF Hutton

Daniel Goh

January 28, 2025

Joseph Rallo is a seasoned investment banker and the co-founder of EF Hutton, a revived version of the iconic stock brokerage firm. Since its founding in May 2020, Rallo has overseen and closed financial transactions exceeding $60 billion. His work spans a range of complex deal structures, including initial public offerings, special-purpose acquisition company (SPAC) offerings, registered direct placements, mergers and acquisitions, fixed income placements, and private funding rounds.

With nearly two decades of experience on Wall Street, Rallo has held influential positions at leading firms before launching EF Hutton. His career includes key roles at Citizens JMP Securities, Aegis Capital, and Maxim Group. Rallo began at Citizens JMP Securities in 2007, where he rose to the position of vice president for investment banking. In 2017, he joined Maxim Group as director of investment banking and later moved to Aegis Capital, serving as co-head of global investment banking until April 2020. This diverse background laid the foundation for his leadership at EF Hutton.

Rallo attributes his success in investment banking to his adaptability and ability to thrive under pressure. He has described the industry as a dynamic environment that offers the opportunity to work on complex financial transactions and navigate high-pressure situations. Throughout his career, he has built a reputation for hands-on client engagement, responsiveness, and innovative deal execution. Many of the professionals he has mentored have gone on to achieve notable success in the financial sector.

As he advanced in his career, Joe Rallo developed a unique approach to managing teams, built around six key principles: model the behavior you want to see, mentor and invest in junior team members, prioritize open communication, establish clear expectations, delegate strategically, and structure your time effectively. He has emphasized the importance of a strong moral and ethical compass as a cornerstone for professional growth and decision-making, encouraging others to cultivate their own sense of purpose and integrity.

Balancing leadership and deal-making has been a central theme in Rallo’s career. Reflecting on his transition to Vice President, he noted that the role taught him the value of fostering an entrepreneurial spirit within a corporate structure. His leadership style emphasizes empowering team members while maintaining accountability and promoting collaboration. Rallo has shared that being available to clients and colleagues at all times early in his career not only strengthened his relationships but also demonstrated his commitment to excellence, earning him respect from peers and clients alike.

When Rallo co-founded EF Hutton during the early months of the COVID-19 pandemic, the financial industry was rapidly shifting to remote operations. Launching a new firm during such a turbulent time presented significant challenges, but Rallo saw it as an opportunity. He described the decision as driven by resilience and vision, believing in his ability to turn challenges into success.

To scale EF Hutton during this period, Rallo and his team implemented digital tools to support seamless remote collaboration, ensuring consistent service for their clients. By embracing flexibility and purpose-driven strategies, the firm established a solid foundation for navigating the prolonged market volatility that followed. These efforts not only sustained EF Hutton but also positioned it for continued growth.

Beyond his professional work, Rallo and his wife are deeply committed to philanthropy, supporting causes related to education, healthcare, and cultural exchange. Their initiatives include providing support to HIV/AIDS-affected children and families in Africa and India, advancing research and treatment for childhood cancer, and improving access to medical care for at-risk people in Serbia. Additionally, they support the growth of talented musicians from varied and underrepresented backgrounds.

Joseph Rallo actively serves on the executive boards of several organizations, including the Lang Lang International Music Foundation, St. Jude Children’s Research Hospital, The Rousseau Foundation, Keep a Child Alive, and Lifeline Humanitarian Organization. His commitment to giving back reflects his belief in using success as a platform for making a positive impact.

A graduate of the University of Notre Dame and the Mendoza College of Business, Rallo lives in New York with his wife and children. He remains dedicated to both his professional pursuits and his efforts to make a meaningful difference in the lives of others.

We recently had the opportunity to sit down with Rallo to ask him about his experience as an investment banker and see what he advises for those who want to follow in his footsteps.

Can you walk us through your daily routine and how you maintain productivity?

I usually start my day early, around 4 AM. This quiet time is ideal for catching up on emails and planning the day ahead. Staying informed about global markets and financial news is essential, so I dedicate my mornings to reviewing updates.

Family time is equally valuable to me. I make an effort to have breakfast with my family, and whenever possible, I drop my kids off at school or support their extracurricular activities. This keeps me balanced despite the high-energy nature of my work.

At the office, my day involves making strategic decisions, attending client and partner meetings, and overseeing various projects. Given the global reach of the business, managing different time zones requires careful planning and adaptability.

In the evenings, I often attend client events but try to prioritize family dinners whenever I can. My role allows me some flexibility to align work travel and commitments with my family’s schedule, which helps maintain a healthier work-life balance.

To stay productive, I focus on the most pressing tasks first and keep my schedule well-organized. It’s a demanding routine, but one that provides both professional success and personal fulfillment.

What’s an emerging trend you find particularly inspiring?

I’m deeply interested in the transformative potential of technology, particularly artificial intelligence (AI). AI is reshaping industries like healthcare, finance, and education. Supporting entrepreneurs who use technology to solve significant challenges is something I find incredibly meaningful.

What’s one habit you rely on to stay productive?

Regular exercise is a must for me. Staying physically active directly contributes to mental sharpness and energy, both of which are essential for maintaining focus and making effective decisions.

If you could give your younger self one piece of advice, what would it be?

I’d encourage my younger self to be patient and trust the process. Building something meaningful takes time, and some of the most valuable lessons come from overcoming challenges. I’d also advise being mindful of the people you trust and keeping a close-knit, reliable circle.

What’s one belief you hold that others often challenge?

I believe that the traditional education system doesn’t always nurture the mindset required for entrepreneurship in a rapidly changing world. While formal education has its place, hands-on experience and critical thinking are equally vital for success.

Is there one activity you do consistently that you’d recommend to others?

I prioritize lifelong learning. Whether through books, seminars, or mentorship, staying curious and investing in personal growth is essential for staying relevant and advancing in any field.

How do you handle moments of stress or feeling overwhelmed?

When I feel stressed, I step back to reassess the situation. Taking short breaks and practicing mindfulness helps me refocus. Delegating tasks to my team also allows me to concentrate on high-priority responsibilities.

What’s a strategy that has significantly contributed to your career growth?

Building a strong professional network has been key to my success. Maintaining genuine relationships with colleagues, mentors, and clients has opened new opportunities and provided invaluable guidance throughout my career.

Can you share a professional setback and how you turned it around?

A major challenge I faced was misplacing trust in certain individuals, which led to setbacks that risked derailing progress. Resolving this required tough decisions, including restructuring and addressing misalignments within the team.

The recovery process involved a deliberate focus on building a values-driven team and implementing stronger safeguards. This experience taught me the importance of earning trust, regularly evaluating team dynamics, and staying resilient during challenges. Ultimately, it strengthened my leadership skills and the organization as a whole.

What tool or software do you use to stay organized and productive?

I rely on project management platforms like Asana to monitor tasks, deadlines, and progress. It helps keep my team and me aligned and ensures we stay on track.

What advice would you give to aspiring leaders and innovators?

Build meaningful relationships and seek mentorship. Learning from diverse perspectives can spark fresh ideas and open new opportunities. Also, resilience is vital—success often comes from taking risks and learning from setbacks, which shape both personal and professional growth.

Joseph, thank you for sharing your thoughts and insights with us today.

It was my pleasure. Thanks for having me here today.

The Executive Dilemma: Will Reducing Responsibilities And Taking A Pay Cut Bring Bliss?

Contributor

January 27, 2025

by Cheryl L. Mason, J.D., CEO of Catalyst Leadership Management and author of “Dare to Relate: Leading with a Fierce Heart”

A definite trend is developing among senior leaders stepping back or repositioning into different roles, many with less responsibility and less pay. Why?

From my perspective, it is a combination of burnout, high expectations, lack of organizational support, the lingering impact of the pandemic on all of us, including leaders, and the knowledge that change is happening faster than ever before.

As a Chief Executive who led during the pandemic, there were a lot of unknowns for all of us and leading teams through this was stressful. Leaders often describe that leadership is like a hamster wheel. In this situation, it felt the hamster wheel was set on high speed and put outside during a hurricane.

Change is constant but during the pandemic, it hit us like giant waves from almost every direction, every day! From implementing remote work, expanding technological support, maintaining engagement with customers and employees, ensuring productivity continued, and establishing new processes and procedures. What was supposed to be 2 weeks turned into 2.5 years and completely altered the operations of a typical workplace. With all the demands, leaders barely had time to breathe. This negatively impacted leaders’ mental and physical health as well as family relationships.

Additionally, change is still happening faster than ever, from technology to recruitment to employee turnover. AI is everywhere and figuring out how, when, where, and if it should be used is a moving target. As traditional educational training is giving way to more certification-based training, recruitment and hiring has become even more challenging to find and select the best workforce. And to say that sustaining and retaining that workforce is difficult is an understatement. What works today might not work tomorrow, next week, or next month.

Many senior leaders in the C-suite already summoned all the agility and adaptability they did not know they had to lead during and since the pandemic, and they are exhausted. Leaders expected routines and processes to quickly return to the “normal” pre pandemic operations, but that has not happened. C suite leaders are now faced with navigating the “new normal” as employees redefined personal and professional success.

Leaders are reeling, wondering what is around the next corner, and assessing their options.

Employees were not the only ones who redefined personal and professional success during this window of rapid change, some leaders did as well. I was one of them. I chose to alter my course. I had several opportunities for other chief executive and senior roles, but I wanted to experience life on my own terms. With more than 30 years’ experience, I have a great deal to offer. I believe I can do that on a different path, and still make an impact.

Have I seen more of my senior colleagues’ pivot? Yes, but the whys are as varied as the differences in our DNA. In many cases, burnout and exhaustion became the outward demonstration of the leaders’ internal struggles. Leaders felt drained. The cumulative effects of uncertainty, ever present change, navigating constant support of teams and customers, and the continued expectations to deliver results were layered on top of their core responsibilities.

Like me, these leaders still want to impact and make a difference. Yet, in most situations, organizations do not provide pathways for alternative opportunities comparable to sabbaticals in academia or leaves of absence. So, these leaders look for opportunities to continue to add value in various capacities in a wide range of organizations. These have less responsibility and less pay.

A handful of companies worked creatively with the leaders to provide opportunities for transition which included advisory positions to mentor the next group of leaders. In these cases, the organization pursued diverse approaches to leadership, while providing support and encouragement for the new leaders. This enables senior leaders to share their knowledge, while no longer having the responsibility and the stress. This benefits the company by easing the transition for employees, customers, and stakeholders. And provides a bit of a safety net, just in case.

In my opinion, this can be a smart move, if it is done correctly with the right circumstances. There must be a clear delineation of duties and who is the senior leader for employees, customers, and stakeholders.

Finally, many C suite leaders know that sooner or later, they must leave. The question then arises, will it be on your terms or someone else’s? Most C suite leaders, regardless of organization, know that there is always a chance they will be pushed out. It is better to control the decision than have it forced on you. So, why not prepare and ensure you are comfortable, and make the change on your terms. Transition is hard and tricky, and it can feel scary, liberating, and exciting.

That said, stepping out of a senior leader role also means understanding that you are no longer the final decision maker. That can be more difficult if you have not thought about it. I think this is the reason many leaders take a step into lesser roles; it gives them the opportunity and time to transition.
And sometimes, leaders discover they just needed a respite and want to return to senior leadership, while others carve new pathways and experiences. Regardless of their choice, these leaders are still leading in some capacity, but on their own terms.

I think the changes occurring in senior leadership mirror that of what is happening with employees. The pandemic showed us that life is about living. Work is a part of life, and work can enhance life, but work should not dominate our lives. This perspective was slowly developing through the 2000’s, the pandemic exacerbated it.

This is a significant departure from previous generations’ viewpoints. For my generation, my parents’ and grandparents’ generation, work was life, it defined us. That has and will continue to change as new generations step into leadership positions. Organizations must adjust and adapt to retain strong effective leaders.

While money will always be important, power, perks, and competition are no longer the primary drivers. Leaders and employees of today and tomorrow are driven by purpose and impact. They want to matter and make a difference.

Cheryl L. Mason, J.D. is a TEDx speaker, author and CEO and Chief Catalyst of Catalyst Leadership Management — a firm helping CEOs, senior leaders, companies and teams lead with authenticity and empathy while leveraging strategy, analytics, vision and change management to realize record-breaking results. Mason is author of “Dare to Relate: Leading with a Fierce Heart” centered on cultivating strong workforce relationships.

The Importance Of IT Infrastructure In Scaling Startups

admin

January 27, 2025

Startups today rely heavily on technology to succeed. A strong IT Infrastructure helps new businesses grow, adapt, and stay competitive in fast-changing markets.

The right IT setup can make or break a startup’s chances of success. It affects everything from product development to customer service. Good technology lets startups work faster, save money, and reach more people. It also helps them gather valuable data to make better decisions.

Choosing the best technology for a startup isn’t easy. It requires careful planning and a clear view of the company’s goals. Startups that do it right can scale up quickly and handle new challenges as they arise. Those that don’t may struggle to keep up with rivals or meet customer needs.

While many startups understand that investing in new technologies, such as cloud-hosted solutions and network infrastructure, can be critical for success, understanding that robust IT infrastructure is more than a support function is equally important — it’s a driving force behind innovation, operational efficiency, and staying ahead of the competition.

2. The Role of IT Infrastructure in Startup Growth.

As technological advancements accelerate, the platforms driving business value must keep pace. Otherwise, the business loses market share and competitive advantage. IT infrastructure is the foundation that allows companies to operate in the cloud seamlessly. It enables businesses to build exceptional experiences that leverage new cloud technologies for consumers and employees. So, as you can tell, it’s pretty essential.

Here are some other key functions of IT Infrastructure:

Supporting day-to-day operations: IT Infrastructure is the collection of hardware, software, networks, and data storage systems that enable a business to function smoothly by providing the necessary technology for employees to perform their daily tasks, including communication, data access, application usage, and overall system stability.

Enhancing collaboration and communication: Utilizing technology like cloud-based platforms, video conferencing tools, file-sharing systems, and project management software to enable seamless interaction and information exchange between team members, regardless of their physical location, fostering better teamwork and productivity across an organization.

Driving innovation through technology: IT infrastructure is a key driver of innovation in businesses. It enables the use of new technologies, creates seamless connectivity, and safeguards data.

While the key functions and benefits of a solid IT infrastructure are clear, it’s not always easy for startups to execute on putting this foundation in place. Here are some key challenges startups can often face:

Limited budgets and resources: When resources are tight, every dollar counts. Startups must make tough decisions about where to allocate their limited funds, whether investing in technology, marketing, or hiring key talent. The challenge is to balance these needs without overstretching the budget.

Rapid scaling requirements and flexibility: When you start gaining traction, it’s essential to stop and take stock. You need to have a product or service that a growing user base wants and the business systems, infrastructure, and employees in place to support that demand.

3. Core Components of Scalable IT Infrastructure.

We now know that IT Infrastructure is the critical framework that ensures all operations run like clockwork. Now, you might wonder about the essentials of this IT backbone. Here are the core components:

Cloud Computing: Cloud services are like magic. Instead of storing everything on physical servers, you can save data and run software directly from the internet. The cloud is flexible and scalable and ensures your business can function from anywhere. It is like your business’s genie, granting wishes for accessibility and efficiency.

Networking Solutions: Consider area networks the highways of your business world. They allow for the rapid exchange of information, connect devices, and ensure smooth communication. Whether a simple email or a large file transfer, networks ensure it reaches its destination seamlessly.

Cybersecurity Measures: With great data comes great responsibility. Security systems are the guardians of your management systems. From firewalls and VPNs to endpoint protection and employee training, they protect your business from threats, hackers, and breaches. In a world of cyber risks, where startups become the prime target, security systems are the knights in shining armor, ensuring your business’s safety.

4. The Cost of Not Investing in IT Infrastructure.

Understanding the health of your IT infrastructure is critical for any business environment. Key factors aren’t always obvious and can signal that your IT systems are holding your business back. These signs range from strategic gaps, like a lack of an incident response plan, to red flags, like frequent downtime and outdated hardware.

Operational Inefficiencies: One of the most noticeable signs of an inadequate IT Infrastructure is a slowdown in system performance. This can manifest as slow server responses, delayed loading times, or lagging applications.

Security Risks: Nobody thinks it’ll happen to them until IT DOES. Data breaches are becoming increasingly common among small businesses. The money you’ll spend investing in your IT Infrastructure pales compared to the money you could lose without it. Cyberattacks can lead to data breaches, financial loss, and reputation damage.

Scalability Challenges: A poorly designed IT infrastructure can lead to scalability issues such as slow performance during high-traffic periods, frequent system crashes, an inability to handle increased data volume, and difficulty adding new users or applications. These issues can ultimately hinder business growth due to processing power, storage capacity, and network bandwidth limitations when demand exceeds the system’s capabilities.

5. Building IT Infrastructure for Future Growth.

As technology evolves, the systems you implement today may not be enough to meet tomorrow’s demands. Future-proofing your IT infrastructure is crucial for maintaining long-term growth, optimizing production, and navigating the challenges of any industry. Here are three steps to help you stay ahead.

Adopt Scalable Solutions: Cloud technology allows businesses to scale data storage, compute power, and applications on demand. Cloud solutions offer flexibility for companies expecting rapid growth that traditional on-site infrastructure can’t match. Platforms like AWS, Microsoft Azure, and Google Cloud let you expand capacity as needed and provide access to advanced tools like machine learning, analytics, and AI without hefty upfront costs.

Automate Where Possible: Automation frees your team to focus on higher-value activities. Automated workflows for tasks like data entry, reporting, or customer follow-up improve efficiency, reduce human error, and allow you to redirect your team’s time to strategic projects. By reducing the load of manual tasks, automation enables your infrastructure to handle more volume and complexity as your customer base and operations expand.

Prioritize Employee Training: Building an IT infrastructure for growth necessitates employee training focusing on developing skills in emerging technologies, cloud computing, data analysis, cybersecurity, and system administration. This ensures employees can effectively manage and adapt to a growing IT environment, supporting scalability and efficient operations as the company expands.

6. How IT Infrastructure Empowers Startups.

Robust, scalable, and secure IT systems lay the foundation for growth, enabling startups to handle increased demands, expand seamlessly, and remain competitive in today’s dynamic markets. Here are some ways a solid IT infrastructure empowers startups:

Streamlining Operations: Scaling operations are chief among the benefits of infrastructure optimization. With scalable technologies, businesses can easily adjust to evolving needs and future expansions. By streamlining operations, companies can better use resources and enhance efficiency. This boost in productivity accelerates time-to-market and operational speed.

Facilitating Innovation: A technologically advanced IT infrastructure opens up opportunities for innovation. Organizations that leverage cutting-edge technologies like Artificial Intelligence (AI), Machine Learning (ML), and the Internet of Things (IoT) gain a competitive edge and can lead in their respective industries because it enables R&D, market analysis, and faster product launches.

Supporting Remote and Hybrid Teams: A well-developed IT infrastructure supports hybrid teams by providing a seamless connection between remote and in-office employees through cloud-based applications, secure communication channels, virtual private networks (VPNs), and robust collaboration tools, allowing them to work effectively regardless of their physical location, all while maintaining data security and accessibility across different environments.

7. Tips for Choosing the Right IT Solutions.

The right IT solutions can help you improve your efficiency, productivity, and security. However, with so many different IT solutions available, it can be challenging to know where to start. Here are some tips:

Evaluate Needs and Growth Goals: The first step in choosing the right IT solutions is identifying your needs. What are your business goals? What are your current IT challenges? What are your budget constraints? Once you have a good understanding of your needs, you can start to narrow down your options.

Focus on Flexibility and Cost-Effectiveness: Many different IT solutions are available, so evaluating other options is essential before making a decision. Consider flexibility, cost, and the core. Avoid overinvesting in solutions that don’t adapt to your startup’s growth trajectory.

Leverage Expert Advice: If you’re unsure how to choose the right IT solutions for your business, getting expert advice is a good idea. A qualified IT consultant can help you assess your needs and recommend the best solutions for your business.

Conclusion.

As startups aim to scale and thrive in today’s competitive landscape, building a robust and agile IT infrastructure becomes paramount. A well-designed infrastructure lays the foundation for seamless operations, innovation, and future growth.

Prioritizing strategic IT investments ensures that startups can allocate technology resources to projects that most directly align with business objectives. By focusing on initiatives with the most significant potential to drive growth, efficiency, and competitive advantage, startups maximize the return on investment (ROI).

How A People-First Culture Transformed My Leadership — And Can Transform Your Team

Contributor

January 24, 2025

by Alex Draper, founder of DX Learning and author of “CARE to Win – The 4 Leadership Habits to Build High-Performing Teams“

When I first started leading teams, I thought success was all about hitting the numbers. But over time, I realized that the real secret to exceptional performance wasn’t just in meeting metrics — it was in creating a culture where people come first. It took years of trial, error, and a lot of humility to understand that when employees feel seen, valued, and heard, they deliver their best work.

That’s what I aim to share with you: the practical steps I’ve learned to foster a people-first culture that reduces toxicity, builds trust, and drives exceptional performance, even in the unpredictable world of small businesses and startups like my business.

Building a People-First Culture

At its core, a people-first culture is about trust. It’s about creating an environment where people feel safe to speak up, take risks, and bring their full selves to work. When trust thrives, teams collaborate better, solve problems faster, and engage more deeply. Without it, toxicity creeps in—disengagement rises, turnover increases, and performance drops.

Psychological safety is where it all begins. This isn’t just a buzzword; it’s the foundation of a high-performing team. People need to know they can share ideas, admit mistakes, and ask questions without fear of judgment. As leaders, it’s our job to make that happen — not by accident, but with intention.

How Leadership Creates Trust

Leadership isn’t about titles or authority; it’s about influence, care, and consistency. I’ve developed what I call the CARE playbook — Clarity, Autonomy, Relationships, and Equity — to guide leaders like you in building trust and creating high-performing teams.

Here’s how it works:

1. Clarity: Setting the Stage for Success.

Ambiguity kills confidence and trust. When people aren’t sure of their roles or what’s expected of them, frustration and mistrust take hold. Clear expectations align efforts and give teams a sense of purpose.

How I apply this: I make a point to revisit goals regularly with my team, ensuring everyone knows how their work contributes to the bigger picture. It’s amazing how much more motivated people feel when they understand the “why” behind their tasks and are fully aligned with their expectations.

2. Autonomy: Empowering Creativity.

Early in my leadership journey, I was a micromanager. I thought I was helping, but I was stifling creativity and trust. I saw them flourish when I finally let go, allowing my team the freedom to make decisions and do their work how they see fit to achieve the goals we were fully aligned on.

What I do now: I delegate with clear outcomes in mind but let my team decide how to achieve them. When mistakes happen, we treat them as learning opportunities, not failures.

3. Relationships: Leading with Connection.

I used to focus on results first and people second. But I’ve learned that when you take the time to build genuine relationships, trust deepens, and collaboration improves.

My practice: Regular one-on-one check-ins aren’t just about tasks — they’re about understanding each person’s goals, motivations, values, challenges, and aspirations. This builds loyalty and reduces tension across the team.

4. Equity: Providing What People Need.

Early on, I believed fairness meant treating everyone the same. However, fairness is about meeting people where they are and providing them with the resources they need to succeed.

My lesson: When I started tailoring support to unique individual needs — be it training, tools, or time — my team felt valued, and their performance reflected it.

Tackling Toxicity

Toxicity in teams is a silent killer. It grows when people feel undervalued, underappreciated, or ignored. I’ve seen firsthand how fostering a people-first culture minimizes these risks. When team members know they can trust their leader and each other, engagement and morale soar, with sustainable performance following.

Here’s the reality: psychologically safe teams report lower stress, higher productivity, and a stronger sense of belonging. These teams don’t just survive challenges — they thrive because they know their voices matter. More on the data to support the case for psychological safety in this article on Google, called Project Aristotle.

Transforming Performance with CARE

Creating a people-first culture is a game-changer for small businesses and startups, where resources are often tight. I’ve seen this approach help teams deliver their best work, even under pressure. And it’s not just good for people — it’s good for business. Research consistently shows that psychologically safe teams are more innovative, adaptive, and resilient.

The CARE playbook — Clarity, Autonomy, Relationships, and Equity — gives leaders a roadmap to build this culture. When people feel cared for, they care more. And when they care more, they perform at levels that exceed expectations.

The question I ask myself every day is: “Am I sending my team home less stressed and more fulfilled than when they arrived?” If you can answer “yes” to that, you’re not just leading — you’re winning.

Alex Draper, founder of DX Learning, began his career as a teacher before shifting to adult education and leadership in 2002. In 2015, he launched DX, a firm focused on eradicating workplace toxicity and cultivating people-centered leadership through the CARE Equation — Clarity, Autonomy, Relationships, and Equity. Under his guidance, DX has empowered over 60,000 leaders globally, leading transformative leadership training programs
that prioritize human connection, emotional intelligence, and psychological safety across organizations through the CARE to Win platform.

6 Tips For Getting The Most Out Of Your VoIP Service

admin

January 24, 2025

In recent years, Voice over Internet Protocol (VoIP) has revolutionized how businesses communicate. VoIP services offer a range of benefits by converting voice signals into digital data and transmitting them over the Internet, including cost savings, flexibility, and enhanced features compared to traditional phone systems.

As more organizations adopt VoIP technology, optimizing its use becomes crucial for ensuring high call quality and reliable communication. To truly harness the power of VoIP, businesses must focus on several key areas: ensuring a robust internet connection, prioritizing voice traffic, using quality hardware, monitoring network performance, managing background activities, and leveraging advanced features. Each of these factors is significant in the overall effectiveness of your VoIP service.

Let us explore practical tips to help you get the most out of your VoIP service. Whether you’re a small business just starting with VoIP or a larger organization looking to refine your existing setup, these strategies will enhance your communication experience and ensure that you maximize the value of your investment in VoIP technology. VoIP reviews provides pros, cons, and customer experiences of various VoIP Service providers.

1. Optimize Your Internet Connection.

The foundation of any successful VoIP service is a reliable internet connection. Even the best VoIP systems can suffer from poor call quality and dropped connections without sufficient bandwidth and stability.

Assess Your Bandwidth: The first step is evaluating your internet bandwidth. VoIP calls require a specific upload and download speed to function effectively. For example, a single VoIP call typically requires about 100 kbps (kilobits per second) in both directions. If multiple users are making calls simultaneously or if you plan to use video conferencing features, you’ll need significantly more bandwidth. As a general guideline, small teams may need around 1 Mbps (megabit per second) for basic operations, while larger organizations may require much higher speeds.

Upgrade Your Internet Plan: If your current plan does not satisfy these requirements, consider upgrading to a business-class internet service that offers higher speeds and better reliability. Business plans often come with Service Level Agreements (SLAs) that guarantee uptime and performance levels—critical factors for maintaining effective communication.

Wired vs. Wireless: Wireless connections offer flexibility but can also introduce instability due to interference and signal fluctuations. For optimal performance, it’s recommended to use wired connections whenever possible. Ethernet cables directly link your router or switch, minimizing latency and ensuring consistent call quality.

2. Prioritize VoIP Traffic.

To ensure that voice traffic receives the bandwidth required for optimal performance, implementing Quality of Service (QoS) settings is essential.

QoS is a network feature that prioritizes specific types of traffic over others. By configuring QoS on your router or switch, you can prioritize VoIP packets to be processed first during congestion. Even if other applications use bandwidth—such as video streaming or large file downloads—your voice calls will maintain clarity and reliability. Access your router’s settings through its IP address to set up QoS.
Look for the QoS settings in the configuration menu.
Identify the ports used by your VoIP service.
Set these ports as having higher priority than other types of traffic.

Network Segmentation: Another effective strategy is to form a separate Virtual Local Area Network (VLAN) for your VoIP devices. By segmenting your network this way, you can reduce congestion and ensure that voice traffic is unaffected by other network activities.

3. Use Quality Hardware.

The hardware used in your VoIP setup can significantly impact call quality and overall performance.

Invest in Premium Equipment: High-quality VoIP phones and headsets are essential for clear audio communication. While many budget options are available, investing in reputable brands known for their reliability can make a noticeable difference in sound quality and durability. Look for devices that support wideband audio for enhanced clarity. Ensure that your routers and switches can handle VoIP traffic efficiently. Consider using devices specifically designed for VoIP applications that include features such as built-in QoS capabilities.

Regular Updates: Keeping firmware and software updated is crucial for maintaining optimal performance and security. Manufacturers frequently release updates that improve functionality or address vulnerabilities. Set a schedule to check for updates regularly or enable automatic updates if available.

4. Monitor Network Performance.

Proactive network performance monitoring is vital for identifying potential issues before they affect call quality.

Tools for Monitoring: Utilize network monitoring tools to test latency, jitter (variability in packet arrival time), and packet loss — three critical metrics affecting VoIP performance.
Latency: It should be below 150 milliseconds for acceptable voice quality.
Jitter: This should be less than 30 milliseconds; higher values can lead to choppy audio.
Packet Loss: Aim for less than 1% packet loss; anything higher can impact call clarity.

By regularly assessing these metrics, you can identify trends or spikes in issues related to network congestion or hardware failures.

Regular Audits: Conducting regular system audits helps ensure all components of your VoIP system are functioning correctly. Check hardware connections, update software configurations as needed, and verify that all devices operate within their recommended parameters.

5. Manage Background Activities.

Background activities on your network can significantly impact the performance of your VoIP service if not appropriately managed.

Limit Bandwidth-Hogging Activities: Encourage users to limit activities that consume large bandwidth during peak calling times. For example, Schedule large downloads or software updates during off-peak hours when fewer calls are being made.
Use Quality of Service settings to prioritize voice traffic over less critical applications during busy periods.

6. Leverage Advanced Features.

Many modern VoIP services have advanced features to enhance productivity and streamline communication processes.

Utilize VoIP Features: Familiarize yourself with your VoIP provider’s various features.
Call Forwarding: Redirect calls to different numbers based on availability.
Voicemail-to-Email: Receive voicemail messages directly in your email inbox for easy access.
Video Conferencing Integration: Take advantage of built-in video conferencing tools for remote meetings.

Conclusion

Getting the most out of your VoIP service requires attention to detail across several key areas — optimizing your internet connection to effectively leveraging advanced features. By following these tips — assessing bandwidth needs, prioritizing voice traffic through QoS settings, investing in quality hardware, monitoring network performance regularly, managing background activities wisely, and utilizing advanced features — you can enhance call quality and user satisfaction.

As businesses increasingly depend on practical communication tools like VoIP services, implementing these strategies will improve operational efficiency and position your organization for success in an ever-evolving digital landscape.

Scalability Blunders: 5 Fails Impeding Sustainable Leadership Team Development

Contributor

January 23, 2025

Build on your leadership team and see them grow.

by Drew Yancey, PhD, Founder & CEO at Teleios Strategy and co-author of “ Leading Performance… Because It Can’t Be Managed: How to Lead the Modern Workforce”

Leadership often must transition from being founder-centric to team-oriented. As companies scale, the centralized decision-making that propelled early success becomes a bottleneck. Effective leadership in this phase hinges on fostering accountability, cultivating alignment, and delegating decision-making authority to the right individuals.

Key challenges for scaling businesses include leadership gaps, as the initial leadership team may lack the expertise to manage larger teams or address complex operational needs. Operational inefficiencies often emerge without scalable leadership, causing decision-making to slow and team alignment to weaken.

Additionally, rapid growth can lead to cultural fragmentation, where the company’s core values become diluted, resulting in inconsistent practices across teams. Addressing these challenges requires a deliberate approach to building a leadership structure that scales with the organization.

Here are five fails preventing you from building a scalable leadership team:

1. Not Shifting from Founder-Centric to Team-Centric Leadership.

Founders often struggle to relinquish control, but effective scaling requires empowerment across the leadership team. The founder’s role must evolve into that of a strategic leader who focuses on vision and culture.

Action Steps:

Delegate Decisions: Clearly define decision-making responsibilities for team leaders, allowing the founder to focus on high-level strategy.
Hire Complementary Skills: Bring in leaders with expertise in areas where the founder lacks depth, such as operations, marketing, or finance.
Set Boundaries: Establish clear protocols for when leaders need to consult the founder versus when they can make independent decisions.

2. Not Defining Core Values as Behavioral Anchors.

A cohesive leadership team must operate under shared values that align with the company’s purpose. Core values should be actionable, guiding both decision-making and interpersonal dynamics.

Action Steps:

Operationalize Values: Translate abstract principles into specific behaviors. For instance, a value like “customer focus” might include responding to client inquiries within 24 hours.
Use Values in Hiring: Assess leadership candidates for alignment with company values to ensure cultural fit.
Reinforce Daily: Incorporate values into performance reviews, team meetings, and company-wide communications.

3. Not Fostering Accountability Through Clear Objectives.

Accountability is essential for sustaining momentum during growth. A lack of clarity in leadership roles and objectives often leads to misaligned priorities and inefficiencies.

Action Steps:

Define KPIs for Leaders: Establish measurable objectives for each leader, tied directly to the company’s growth goals.
Implement Feedback Loops: Regularly evaluate performance against objectives and adjust strategies as needed.
Create a Culture of Ownership: Encourage leaders to own outcomes, celebrating successes and learning from failures.

4. Not Investing in Leadership Development.

Leaders need tools and training to address new challenges. Investing in their development not only enhances individual performance but also strengthens the organization’s resilience.

Action Steps:

Tailored Training Programs: Offer leadership development programs focused on skills like strategic thinking, team management, and conflict resolution.
Mentorship Initiatives: Pair emerging leaders with experienced executives to facilitate knowledge transfer.
Continuous Learning: Encourage participation in industry conferences, workshops, and networking events to stay abreast of best practices.

5. Not Building Resilience for Uncertain Times.

The ability to lead through adversity is a hallmark of great leadership teams. Mid-market businesses often face external pressures, such as market volatility and competition, that demand resilient leaders.

Action Steps:

Scenario Planning: Train leaders to anticipate and prepare for potential disruptions.
Cultivate Adaptability: Encourage leaders to view challenges as opportunities for growth and innovation.
Promote Well-being: Support leadership teams with resources for stress management, work-life balance, and mental health.

The Long-Term Benefits of Strong Leadership

A scalable leadership team provides the foundation for sustained growth. Benefits include:

Increased Agility: Leaders equipped to make informed decisions can respond quickly to market changes.
Improved Efficiency: Clear accountability and alignment reduce operational redundancies.
Stronger Culture: Unified leadership fosters consistency in values and practices across the organization.
Greater Innovation: Empowered leaders are more likely to pursue creative solutions and drive long-term success.

Leadership is the linchpin for success. By transitioning to a team-centric approach, defining actionable values, fostering accountability, and investing in development, businesses can build a leadership team capable of sustaining growth and navigating challenges. The journey requires intentionality, but the rewards — both for the organization and its people — are transformative.

What Dentists Can Learn From Retailers About Prime Locations

admin

January 23, 2025

Finding the right spot for a dental practice can make or break its success. Just like stores depend on visibility and foot traffic, dental offices need to think carefully about their surroundings. Locations near busy shopping centers or community hubs naturally attract more potential patients. Dentists should also factor in how close they are to competitors and how accessible the practice is for patients.

Retail strategies offer useful lessons for dentists. High-traffic areas highlight why location is key, and demographic data can help target the right audience. Making it easy for patients to visit improves their overall experience and boosts loyalty. Staying aware of community trends helps practices choose locations that foster growth. A well-placed and welcoming office keeps patients coming back. Dentists looking for growth opportunities can benefit from exploring dental office space for lease in strategic locations.

Choosing Visible and Convenient Locations

Placing a dental practice in a busy area improves its chances of being seen and visited. Popular spots like shopping malls or community centers naturally attract potential clients. These areas draw people for many reasons, making it easy for dental offices nearby to become part of their routine. Being close to popular stores and services adds convenience, which patients value.

Retail clusters — places where lots of shops bring in crowds — can also be great options. These locations often have good access and plenty of parking, making them even more appealing. Choosing a prime spot in a busy retail area increases the chances of turning passersby into regular patients.

Using Demographic Data to Find the Right Audience

Understanding the people in a community can guide where to open a dental practice. Retailers often study things like population size, income levels, and age groups to pick the best locations. Dentists can do the same. For example, a practice in an area with lots of young families might focus on orthodontics or pediatric dentistry. On the other hand, practices near older populations might offer restorative or cosmetic services.

Knowing the local community also helps with marketing. Tailored promotions, like family payment plans or senior discounts, can resonate with residents and build trust. Using demographic data this way makes it easier to connect with patients and grow a strong base.

Making Accessibility a Priority

Convenience is a big factor when patients choose a dental practice. Things like ample parking and nearby public transportation make a difference. If a practice is hard to reach, busy people might look elsewhere. Taking cues from retail strategies, dentists should prioritize easy access when setting up shop.

An office that’s easy to find your way through greatly enhances the patient experience. Clear signage and short waiting times leave a positive impression and promote return visits. Regularly reviewing parking and transit options helps patients access the practice conveniently.

Creating a Warm and Welcoming Space

A friendly atmosphere can turn a dental practice into a place patients want to visit. Retailers succeed by making customers feel comfortable, and dentists can do the same. Comfortable waiting areas, calming decor, and helpful staff all create a positive vibe. Reducing the stress that often comes with dental visits makes the experience more pleasant and encourages patients to return.

Building relationships with local businesses can also improve patient experiences. Collaborating on events or promotions creates a sense of community and improves visibility. Hosting events or offering special deals tied to local businesses can strengthen connections and build loyalty among patients.

Adapting to Changes for Long-Term Success

Consumer habits change, so flexibility is important when choosing a location. Successful retailers often move or update their stores to keep up with trends, and dentists can do the same. Changes in demographics, economic conditions, or competition might mean it’s time to reassess a practice’s location. Staying aware of these shifts can uncover new opportunities to meet patient needs.

Tracking growth in areas with new housing developments, expanding public services, or increasing business activity can help practices thrive. Reviewing detailed local trends, such as population growth rates, median income changes, or new transportation projects, gives dentists actionable insights for long-term planning.

Picking the right location can make a big difference for a dental practice. Busy areas like shopping centers or community hubs offer visibility and convenience, helping attract more patients. Understanding the local community’s needs — like focusing on kids’ dental care in younger neighborhoods or restorative care for seniors — can guide services. Easy access, like good parking or nearby transit, makes it more convenient for patients to visit and keeps them coming back. A welcoming atmosphere and partnerships with local businesses can strengthen connections. Staying flexible and adapting to market trends helps practices grow while staying in tune with patients’ needs.

How To Improve Your Business Management Skills In 2025

admin

January 23, 2025

A chain is only as strong as its weakest link. A somewhat stereotyped saying in the world of business, but a valid one.

If you are a manager who is looking to develop your team in 2025, it may be worth starting with the development of someone much closer to home. Yourself. You may have the best sales team, care team, or vet team in the world, but if you, as the manager, are not able to create an air of confidence in your team, or provide them with leadership while also overseeing the growth of the business, then it is all for nothing!

So, in 2025, you will need to adapt to the upgraded technologies and the use of automation. How can you do this and help your team and business to grow, all while improving your skills? Read on to find out!

Stay Updated with Emerging Technologies.

Improving people management is one thing, but as the use of artificial intelligence and automation continues to dominate industries, you, as the manager, must stay ahead of the curve to lead your team.

Aim to learn as much as you can about artificial intelligence, as this (along with automation) can help streamline operations for your business and help with informed decision-making. If you have an online store, it is worth investing in an AI chatbot to help those using your business’s website to ask questions. This will also help you identify areas that may need to be changed and updated, which can help you keep up to speed with industry trends.

Similarly, if you are overseeing a remote or hybrid team, it is worth looking into a collaborative platform, such as Slack or Microsoft Teams, to help with project management and keep in touch with all staff members. This will ease your workflow and reduce the stress and headaches of having to send multiple emails!

Foster Emotional Intelligence (EQ).

As a leader, irrespective of your area, you will need to invest in your emotional intelligence.

Some people will state that this is a pointless endeavor and point to the world-famous company Tesla and how operations such as that are run. However, if you are a manager who wants to retain your staff and not run them into the ground, investing in building stronger relationships with your team is important and can help to make your workplace run more effectively.

Engage in active listening, as this will help you to hear your employee’s concerns and will help them to feel supported. It can be hard to be a manager, so for your mental health, you should invest in options to better manage your stress, as this will help you remain calm under pressure. This can also help you to connect with your staff, as you can share these tips with them, assisting them in managing the stressors of life and the workplace. Everyone loves a boss who appears to be human!

Embrace Continuous Learning.

In your industry, in the coming year, there will be changes. As a manager, you should be continuously enhancing your skills and your knowledge by staying up to date on industry trends and management techniques. Speaking of self-improvement, you can and should enroll yourself in courses that can deepen your expertise, as this will help with project management, and financing areas of your business, and, of course, it will help you to develop your leadership skills.

Cultivate a Culture of Innovation.

A phrase can be deadly to growth and creativity in any workspace- “but we’ve always done it that way.”

In the current marketplace, as a manager, you need to foster innovation among your staff, so try to give your team members the autonomy to experiment with new ideas that can help grow the business. Try to gain diverse perspectives by looking into collaborative work and, of course, if your employees contribute to solutions that help the business to grow or spread brand awareness, reward them!

Strengthen Communication Skills.

Lastly, for your workplace to grow in 2025, you need to engage in effective communication with your staff. Aim to be clear and transparent with your team, articulating your goals and giving crystal clear feedback. When you are communicating with different staff members, who may have different levels of seniority, try to tailor your language and communication style. Of course, be articulate, but make sure that the key points are clear, as this will ensure that everyone in your company is on the same page with expectations.

[Photo credit: Depositphotos.com]

Why Emotional Intelligence Is The Key To Managing Ongoing Client Relationships

Contributor

January 21, 2025

by James Woodfall and Cliff Lansley, authors of “The Heart of Finance“

Your ongoing relationships with clients are an important opportunity to develop and grow trust by acting with emotional intelligence to enhance the service you provide your client with. After the onboarding stage, you might assume that trust has been earned as the client felt comfortable enough to do business with you. However, trust needs to be maintained and nurtured. If you charge an ongoing service fee, you want to retain your client for as long as you can, and for them to do more business with you in the future and recommend you to friends, family and colleagues as an important source of new clients. In one study into how people found out about their financial adviser, word of mouth accounted for 34% and referrals 24%.

Our definition of trust is as follows: ‘a psychological state comprising the intention to accept vulnerability based upon positive expectations of the intentions or behaviour of another.’

Inviting your client to be vulnerable in your presence by sharing their hopes, dreams and fears about their business with you, and reciprocating when appropriate, builds trust. In the definition above, the client is also vulnerable because they are relying on your professional expertise. If you have delivered on their priorities in the implementation meeting, you will have begun to earn their trust.

We might assume that trust continues to grow with relationship duration, and research supports this, but the correlation is small. There are other moderating factors which influence ongoing trust in a relationship. Take the metaphor of a trust account. Trust needs to be maintained, and the actions of you and your firm can either credit or debit the balance.

However, if duration isn’t the main method that trust continues to develop in a professional relationship, there are other factors we need to pay attention to. When we pay attention to and are careful with the emotions of others, trust grows. When we are neglectful of others’ emotions, trust withers. So, we need to pay continued attention to the client’s emotional as well as business needs in our professional relationship.

There are several emotionally intelligent strategies that can be used to maintain and manage ongoing relationships. This article will focus on two, the first, adapting your communication strategies to suit individual clients, and the second, how to spot and deal with contempt before it develops further.

Personalised communication strategies

If you have paid attention to how the client communicates in various media (face-to-face, email, phone, etc), you may have picked up on their preferred style. Is this a person who wants bullet points, or do they need a lot of detail? Do they prefer visual representations to written explanations? Aside from considering any communication preferences for those who may have visual, auditory or other neurological impairments, capturing and using individual styles can help your clients understand you and engage with your ongoing service.

A good starting point is asking clients what their preferred styles for communication are, rather than assuming. For example, with some clients, instead of creating a written proposal, you could:

Create an infographic
Use charts, graphs or slides
Record a short video of you talking about the proposal

Consider the tone and adjust accordingly as some clients may expect a more formal tone than others.

When writing emails:

Use clear headlines to make them easier for your client to understand
Use bullet points to get important information across
Highlight important action items if you need the client to do something

Ongoing communication is an area where obtaining feedback from your client is key. Ask your client periodically if you are getting it right. There is a sweet spot for communication. Too little leaves the client worried, but too much may overdo it. Each client will vary in terms of what they need.

You may also need to increase the amount of communication around key events like market movements or legislative changes with some clients. Other clients may need reminders about the long-term benefits of the work you are doing together to help them stay on track.

As you implement your ongoing service and communication strategy, you may spot signs of upcoming issues you need to address, which we explore next.

Keeping relationships on track – how to manage contempt

It’s important to watch out for signs of contempt from your client, as this is the key to proactive relationship management. The aim is to spot problems before the client has vocalised them so that we can get them out in the open and attempt to resolve them. This will help maintain and grow relationships.

John Gottman identified contempt as one of the ‘four horsemen’, which are attitudes or behaviours that we need to watch out for because of their potential for causing destruction in relationships. The four are:

Contempt, showing a lack of respect
Criticising, complaining or attacking that can be personal
Defensiveness, self-protective responses
Stonewalling, being unresponsive

If you notice contempt, or any of these behaviours, you may need to acknowledge that there might be something wrong that the client hasn’t disclosed. Responding with, ‘I get the sense that there may be a problem here that needs addressing’, gives the client the opportunity to open up. If they don’t vocalise what is troubling them, you might follow up by explaining that you value your working relationship and are happy to address any concerns the client has. If they still don’t respond, they may not want to discuss the issue with you, or you might not be the issue and something else may be on their mind. If you follow the process of acknowledging, clarifying, responding and reassuring, you can hopefully address any issues early and proactively before they grow into problems that later may be more difficult to overcome.

Research suggests that there is an emotional cost of withholding complaints. A person who withholds complaints may ruminate, playing thoughts of what is troubling them over and over again in their head. This can lead to emotional exhaustion and passive-aggressive behaviours which we looked at in the last chapter. By helping your client voice their grievances, you help remove the weight of the problems, and that is positive for your relationship.

Conclusion

In this article, we discussed how to use EI to maintain client trust and ways to deliver value to your clients by providing non-business specific support, such as offering personalised communication and adjusting strategies when faced with contempt to stop any potential problems developing further.

With any relationship, business or personal, it’s important that you make the effort to maintain it. Ongoing service may involve a retainer for regular plan reviews and proactive management, including project updates and customer service. Without a retainer, interactions may be more sporadic, with occasional calls or emails. Your efforts need to go beyond that first meeting. To build trust, good communication and attentiveness must be maintained.

*This is an adapted book extract from The Heart of Finance by James Woodfall and Cliff Lansley.

James Woodfall is a highly experienced former financial planner who, through his business Raise your EI, now works with financial services firms consulting on how they can use emotional intelligence to improve individual and company performance. While studying for his Masters, Woodfall researched the relationship between emotional intelligence and job performance in financial planners.

Cliff Lansley is a Director of the Emotional Intelligence Academy and has worked with clients across the globe and in many sectors – including the military, intelligence, law enforcement and business – helping them to read, understand and influence others when it matters.

How To Prepare Furniture For Storage: A Comprehensive Guide

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January 21, 2025

At some point, you’ll need to downsize your furniture at home or office to make way for new spaces and appliances. Proper preparation before storing your furniture is important to ensure it’s still in tip-top shape when you need it again. You wouldn’t want your investment to go to waste when your furniture gets damaged after a long time of storage.

Whether you’re availing of short or long-term storage, we’ll guide you through the step-by-step preparations for different kinds of furniture to preserve its look and functionality.

1. Choose the Right Storage Unit.

You must get the best storage unit before preparing for furniture storage. Contact a storage provider for a clear quotation on their products and services. Make sure the storage facility you choose has the following storage services:

Gated access
Units with individual alarms
24/7 access
CCTV surveillance
On-site personnel
Pickup and moving services

Consider renting a climate-controlled unit to protect leather and wood furniture. They’re sensitive to humidity and temperature fluctuations, and climate-controlled units maintain a specific temperature to avoid damaging them.

2. Clean Your Furniture Thoroughly.

Thorough cleaning helps protect furniture and prevent extensive damage. Here’s how you can clean it:

Leather Furniture: Use a leather-specific cleanser or mix water and mild soap. Remove excess moisture using a dry cloth and dry the leather before storing it.
Wooden Furniture: Wipe it with a damp cloth to remove dirt and dust. Apply wood cleaner to clean the furniture thoroughly. Make sure it’s completely dry to prevent moisture from warping the furniture.
Metal Furniture: Wipe it with a soft cloth and use a metal cleaner to remove rust and stains. Dry the metal thoroughly to avoid corrosion.

3. Take It Apart.

Disassembling large furniture, such as bed frames, sofas, and tables, can save space in your self-storage unit. If the furniture is heavy, ask one or two people to help speed up the disassembly. Check the manufacturer’s instructions for disassembling the furniture to ensure you don’t destroy it.

Keep bolts, screws, and other small components in labelled bags to avoid losing them. It also helps you find them easily when you need them. Group disassembled parts by kind for easy tracking. Cover sharp edges with bubble wrap to prevent damage while in transit.

4. Wrap Furniture for Protection.

Wrap all disassembled parts individually to protect furniture from scratches, moisture, dirt, and dust. Follow these tips for different types of furniture:

Wood: Cover the surface with plastic wrap, but don’t wrap it too tightly, as this can trap moisture and damage the wood. Instead, use breathable materials like moving blankets.
Leather: Plastic traps humidity, so use breathable fabric or specialised leather covers to protect the furniture.
Metal: Protect surfaces and edges of the furniture with plastic or bubble wrap. Make sure the wrap has no water in it.

5. Use Protective Covers.

Place a large sheet of plastic tarp on the floor of your storage space to keep moisture from seeping into the furniture. To further protect your furniture from damage, invest in furniture pads to pack your furniture. Use boards or pallets to keep your furniture from reaching the floor.

6. Stack Furniture Strategically.

How you arrange your furniture can influence its accessibility and safety. These tips can help keep your furniture in shape:

Put heavier items like tables and sofas at the bottom. Place lighter items on top carefully.
Don’t stack too high, or the furniture parts will tip over.
Leave a small aisle at the centre of the unit to access your belongings easily.
Save space in your storage unit by using up most vertical space.

7. Inspect and Maintain.

If you plan to store furniture for a long time, periodic checks are vital to ensure your belongings are safe. Inspect the unit for signs of moisture, damage, and pests. Air the unit out occasionally to keep it fresh.

Special Considerations for Different Materials

Wooden Furniture.

Put wood polish or wax to protect the surface.
Don’t place heavy items on top of wooden furniture to avoid scratches and dents.

Leather Furniture.

Keep the leather supple with a leather conditioner, especially for long-term storage.
Never fold leather items to prevent creases.
Put silica gel packs inside the bag where the furniture is to absorb moisture buildup.

Metal Furniture.

Put a thin layer of metal polish to avoid rust.
Don’t store the metal furniture in damp conditions.

Final Thoughts

Storing furniture isn’t an easy task, whether it’s wood, metal, or leather. It requires extensive care, attention, and preparation before they’ll be kept inside the storage unit. However, you’ll figure everything out once you work with a reputable storage provider to safeguard your valuable furniture.

By disassembling the furniture, wrapping it in a protective covering, and stacking it safely inside the unit, you can achieve a well-organised arrangement to keep it safe before you use it again. Good furniture provides an aesthetic touch to your home, and it’s better to maintain its quality if not in use than buying another one after it gets damaged.

[FinProfm.com Review] Pros & Cons – Should You Trade On FinProfm?

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January 20, 2025

FinProfm.com Review | What are the Trading Platform Advantages and Disadvantages? Is It Worth It?

A trading platform is something every trader has to use, whether a beginner or an experienced one. With so many different kinds of trading platforms out there, it’s essential to know the pros and cons of each to choose correctly. FinProfm is one of the newer, yet very promising trading platforms that offers traders many features.

Is it the right solution for you? In this FinProfm review, we will discuss the pros and cons of FinProfm, giving you a real picture of what to expect when you start trading on the platform.

Overview of FinProfm.com

FinProfm.com is an online trading platform designed to serve both beginners and professional traders. The website has been in the spotlight since its official release, mainly due to the variety of account types it offers, market access, and innovative trading tools. It aims to provide the full trading experience with advanced charting tools, 24/5 customer support, and access to global markets. Like any other platform, there are both upsides and downsides. Let’s look closer at the details.

Pros of Trading on FinProfm ✔️

1. A Wide Variety of Account Types.

FinProfm offers a range of account types, each catering to different trader needs. Whether you are a new trader or have years of experience, there is an account designed for you. The available account types include:

Basic Account: Great for beginners who wish to start small with just the core features.
Silver Account: Offers more features and higher bonus potential, targeting traders with some experience.
Gold Account: Includes advanced trading tools, higher bonuses, and faster execution for intermediate traders.
Platinum Account: Tailored for advanced traders with higher leverage, faster execution, and priority support.
VIP Account: The highest tier, aimed at professionals and high-volume traders. It offers the highest leverage, personalized support, and unique benefits like protected trades and swap refunds.

Pros: With a variety of account types, traders can select the one that best fits their experience level and trading goals, whether they require basic features or more advanced tools.

2. Access to Multiple Markets.

FinProfm grants traders access to a wide variety of financial markets, including forex, stocks, commodities, cryptocurrencies, and indices. This diverse market selection allows traders to diversify their portfolios and implement various trading strategies.

Pros: Access to numerous markets is crucial for short-term traders seeking quick opportunities and long-term investors aiming for diversification.

3. Beginner’s Learning Tools.

One of the distinctive features of FinProfm is its approach to education. The platform offers comprehensive educational materials for traders who are new to the platform or new to trading in general. FinProfm helps you build a solid foundation, from beginner tutorials to market insights. Some accounts also provide access to webinars and one-on-one consultations with profile analysts.

Pros: The educational resources help develop traders’ skills, making FinProfm a great platform for newcomers who want to learn while trading.

4. 24/5 Customer Support.

FinProfm provides 24/5 customer support, ensuring that traders have access to help whenever they need it. Support is available through multiple channels, including live chat, email, and phone. This is particularly helpful for traders who may face technical issues, account problems, or general inquiries.

Pros: 24/5 support ensures that you’re never left in the dark, and multiple contact options provide a sense of reliability and convenience.

5. Advanced Trading Tools.

FinProfm offers a suite of advanced trading tools for more sophisticated traders. These include advanced charting, AI-powered trading signals, and technical analysis features. These tools empower traders to make informed decisions using real-time market data.

Pros: The advanced toolset makes FinProfm an appealing platform for professional traders who rely on data analysis and quick execution.

6. Security Features.

In today’s digital world, securing your funds is crucial, and FinProfm doesn’t take security lightly. The platform uses advanced encryption protocols, including AES-256 encryption, to protect sensitive data. Additionally, two-factor authentication (2FA) provides extra protection for your account.

Pros: The platform’s focus on security gives traders confidence that their funds and personal information are well-protected.

Cons of Trading on FinProfm ❌

1. Higher Spreads for Exotic Pairs.

While FinProfm offers competitive spreads for most pairs, some traders have noticed that spreads for exotic currency pairs tend to be higher. This could make trading in exotic pairs less appealing to traders who specialize in them.

Cons: Higher spreads for exotic pairs could lead to increased trading costs for traders who prefer to trade in these currencies.

2. Withdrawal Fees.

FinProfm offers one free withdrawal per month for certain account types. However, additional withdrawals come with extra fees. This could be a drawback for traders who frequently need to withdraw funds from their accounts.

Cons: Withdrawal fees can be a hassle, especially for traders who need regular access to their funds without incurring additional charges.

Final Thoughts: Should You Trade on FinProfm?

FinProfm offers a solid trading experience and caters to a wide range of traders with its various account types. Whether you’re a beginner or a professional, there’s an account designed to fit your needs. The platform’s access to multiple markets, educational resources, advanced tools, and reliable customer support make it a suitable option for many traders.

However, FinProfm could improve in areas such as reducing withdrawal fees and offering a mobile app. Additionally, the limited leverage on lower-tier accounts and higher spreads on exotic pairs may be a setback for some traders.

Ultimately, FinProfm is a good fit for those seeking a balance between education, security, and advanced trading tools. However, for those who need more specific instruments or higher leverage across all account types, it’s worth considering other platforms.

With this FinProfm review we can conclude that the platform has emerged as a well-rounded platform for all kinds of traders, but its pros and cons should be carefully weighed before getting started.

Leveraging Small-Scale Funding To Jumpstart High-Impact Projects

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January 20, 2025

Turning innovative ideas into tangible outcomes often hinges on securing the right funding. While large-scale capital can feel out of reach for many entrepreneurs and changemakers, small-scale funding provides a powerful alternative to get your project off the ground. These funds can be transformative, offering the flexibility to test, iterate, and bring creative visions to life. For young entrepreneurs and startups, understanding how to effectively leverage such resources can make all the difference in creating a sustainable path forward.

Small-scale funding isn’t just about covering initial expenses; it’s about setting the foundation for long-term growth. By focusing on strategic allocation and cultivating strong networks, even limited resources can yield significant outcomes. The key is approaching this funding method with the right mindset, careful planning, and a willingness to innovate along the way.

Identifying the Right Opportunities.

Finding small-scale funding opportunities requires a clear understanding of your project’s unique needs and goals. Begin by pinpointing what aspects of your initiative require immediate attention. This might include prototyping, marketing, or securing essential equipment. Once you know your priorities, researching relevant funding sources becomes a more focused and fruitful endeavor.

Local grants, crowdfunding platforms, and small business loans are common avenues for acquiring funding. One particularly accessible option is exploring services like 1000 loans, which provide manageable amounts of capital to kickstart smaller projects. These sources often come with flexible terms, making them ideal for young entrepreneurs still refining their business model.

Networking is another essential component. Connecting with community organizations, industry mentors, or other startups can reveal lesser-known funding opportunities and resources. Many successful entrepreneurs attest to the value of partnerships and collaborations in securing their first rounds of funding, emphasizing that the right connections can open doors to high-impact opportunities.

Strategic Allocation for Maximum Impact.

The true value of small-scale funding lies in how you allocate it. Without a strategic plan, even the most substantial financial support can feel inadequate. Begin by setting clear, measurable objectives for your project. Break these objectives into smaller, actionable steps that align with your overall vision.

Allocate your funds to areas that offer the highest return on investment. For example, if your project relies heavily on user engagement, focus on developing an engaging marketing campaign or building an intuitive user interface. Prioritize spending on elements that will amplify your project’s visibility and credibility.

At the same time, leave room for flexibility. Entrepreneurship often involves navigating unexpected challenges, and maintaining a small reserve can help you adapt without derailing your progress. Use your initial funding to validate your concept, demonstrate its potential, and build the momentum needed to attract further support.

Harnessing Technology to Amplify Efforts.

In today’s digital landscape, technology is an invaluable ally for making the most of small-scale funding. From project management tools to marketing platforms, there are countless resources available to streamline operations and maximize efficiency.

Social media platforms, for instance, offer cost-effective ways to build your brand and reach your target audience. By crafting authentic, engaging content, you can generate organic interest and foster a sense of community around your project. Tools like analytics dashboards help track the performance of your campaigns, allowing you to refine your approach based on data-driven insights.

Additionally, digital collaboration tools can enhance productivity and coordination within your team. Platforms that facilitate seamless communication, task management, and file sharing enable you to maintain focus and progress efficiently, even with limited resources.

Building Momentum Through Community Engagement.

Community support can be a powerful driver of success for projects funded on a small scale. Engaging with your audience early on fosters a sense of ownership and loyalty, which can translate into sustained interest and advocacy for your initiative.

Authenticity is key when building these relationships. Share your story, explain your vision, and invite feedback from your community. Transparency about your goals and the impact you hope to achieve helps build trust and encourages individuals to rally behind your cause.

Leveraging events, both online and offline, is another effective strategy. Hosting workshops, webinars, or meetups related to your project allows you to connect directly with your audience while showcasing your expertise. These interactions not only build credibility but also create opportunities for collaboration and word-of-mouth promotion.

Overcoming Challenges and Scaling Up.

While small-scale funding is an excellent starting point, it’s natural to encounter obstacles along the way. Limited budgets can create pressure to deliver quick results, but it’s essential to balance urgency with long-term planning. Building resilience through adaptability and a growth-oriented mindset can help you navigate these challenges effectively.

Scaling up from small-scale funding often involves leveraging your initial success to attract larger investments. Demonstrating traction—whether through user growth, sales, or social impact—is critical for showing potential investors that your project has long-term viability. Use your early achievements as proof of concept to build confidence in your ability to execute on a larger scale.

Don’t shy away from seeking mentorship during this phase. Experienced professionals can provide valuable guidance on managing growth, refining your pitch, and identifying new funding sources. Their insights can help you avoid common pitfalls and position your project for continued success.

A Roadmap for Emerging Entrepreneurs.

For many young entrepreneurs, the journey of launching a high-impact project begins with limited resources. Small-scale funding offers an accessible and practical way to take those first steps. By focusing on strategic allocation, leveraging technology, and building a supportive community, you can transform modest beginnings into meaningful achievements.

Every project, no matter how ambitious, starts with an idea. The key lies in your ability to execute that idea with creativity, determination, and resourcefulness. Small-scale funding provides the opportunity to lay the groundwork for something larger, empowering you to make a difference in your field and beyond.

From P&G To Piano: Building A Music Education Startup With Quincy Jones

Contributor

January 18, 2025

by Chris Vance, Founder and CEO of Playground Sessions

Great businesses often start with a simple observation. For me, it was standing in Target, eyeing a Casio keyboard, and realizing that, despite all our technological advances, learning piano in 2009 still relied on traditional books and private lessons. Like 90% of people who attempt to learn an instrument, I was probably destined to fail.

That moment became the spark for what would eventually become Playground Sessions, a company I later built with legendary producer and musician Quincy Jones.

The Journey to Entrepreneurship

My path to becoming a music education entrepreneur was far from traditional. After starting my career at Goldman Sachs and later P&G, I moved to ZAG, the brand incubator at BBH, a global advertising agency that had just launched Google Chrome. At ZAG, we focused on identifying spaces where consumer interest outpaced brand activity. Data revealed that while people didn’t just love music, they were eager to learn and express themselves through it. Simultaneously, online platforms like YouTube were exploding in popularity, signaling a shift in how people consumed educational content.

Having recently refreshed my Spanish using Rosetta Stone, I had a firsthand understanding of how effective digital learning platforms could be. The opportunity was clear: leverage modern digital tools and top-tier instructors to make learning piano accessible to millions.

When Fast Company featured our story in an article titled How to Build a Brand from Scratch in 7 Steps, it caught the attention of Quincy Jones’s team. Quincy, at the time, was looking for what he called the “Rosetta Stone for music.” He was so intrigued by our concept of combining technology and gamification to teach music that he became a partner early on. His involvement brought more than just star power — it brought wisdom.

During a challenging period, when I shared our struggles, Quincy reassured me with, “We’re on a dirt road, but I dig a dirt road!” He shared how producing Michael Jackson’s Thriller was fraught with challenges, yet through relentless effort and grit, he turned it into the best-selling album of all time.

The Startup Reality

Starting Playground Sessions was like building a puzzle while simultaneously inventing the pieces. From hiring the right people and raising funds to refining our product, testing assumptions, and establishing distribution, every day brought new challenges. I went from leading established companies to being “the little guy” trying to orchestrate countless moving parts — most of which didn’t work as planned.

Our darkest moment came when we lost our head of technology, Sean Thayne, who tragically died while heroically trying to save a mother and daughter from a swollen river. We were at a breakout point, preparing multiple language translations and launching an Android app. The thought crept in: “Maybe this is the end for Playground Sessions.”

But Sean’s passion for our mission — to use technology to bring happiness through music — gave us the strength to move forward.

Flipping the Script on Music Education

Our breakthrough came from a fundamental insight: instead of teaching people to “learn to play”, we needed to help them “play to learn”. By gamifying the experience and incorporating instant feedback, visual cues, and scoring, we made the process of how to play piano for beginners both effective and enjoyable. Today, Playground Sessions averages over 10 million practice sessions per month, with more than 3 billion notes played.

This success has enabled us to forge remarkable partnerships. Harry Connick Jr. joined as a piano teacher and brand ambassador, simplifying complex concepts for learners. We partnered with Yamaha and Casio to expand distribution and built strong relationships with music publishers to license popular songs for our platform.

Key Lessons for Entrepreneurs

1. Connect to a Higher Purpose.

Having a mission beyond profit is vital for navigating tough times. For us, the joy users experience as they master songs and express themselves through music keeps us going.

2. Build for the Long Term.

We delayed launching our mobile app by 24 months to perfect our education methodology on desktop first. This decision slowed growth initially but created a scalable and robust platform. Prioritizing long-term success often means making short-term sacrifices.

3. Invest in Core Talent.

Your early hires can define your startup’s culture and trajectory. Sean Thayne not only excelled but also trained his successor, ensuring continuity. Hire people who share your passion and align with your mission.

4. Draw Inspiration Across Industries.

Platforms like Rosetta Stone inspired us to break music education into digestible, progressive steps. Cross-industry insights can spark innovative approaches in your own field.

5. Forge Strategic Partnerships.

Quincy Jones brought emotional depth to our “play to learn” strategy, while Harry Connick Jr. made complex musical concepts accessible. Strategic partners who align with your mission can amplify your impact.

6. Focus on Solving the Core Problem.

Our primary goal was to make music education accessible and effective. Every feature, partnership, and decision revolved around this objective. Stay laser-focused on your core problem even as you scale.

7. Embrace Innovation with Purpose.

Technology should serve your mission, not the other way around. Gamification and digital tools weren’t just about innovation — they made learning more engaging and effective.

Looking Ahead

As Quincy’s teacher Nadia Boulanger once said, “The music you play can never be more or less than you are as a human being.”

That philosophy applies to building a company — it can only be as strong, focused, and authentic as the people behind it. The path from corporate brand management to creating a music education startup wasn’t obvious, but it proved that with the right insights, a dedicated team, and a focus on solving meaningful problems, you can build something impactful — even in industries you never expected.

[Main photo credit: Depositphotos.com]

Chris Vance is the Founder and CEO of Playground Sessions, a piano learning app co-created with Quincy Jones. It offers an innovative approach to music education, delivering a fun and effective way to learn piano online. Chris is passionate about making music education accessible and empowering teachers with tools to keep their students engaged and practicing independently.

Most Business Acquisitions Fail Before They Even Begin — Here Are Key Processes To Get It Right

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January 17, 2025

by Wayne Wilson, CEO and Founder of SynergenX

Acquiring a business is often seen as the ultimate growth strategy. But if you’ve been in the trenches like I have, you know it’s less about the deal itself and more about what lies beneath — the systems, the people, and the risks that are invisible at first glance. Every acquisition carries a story, and too often, that story reveals itself only after the papers are signed.

What I’ve learned over the years is that there are two non-negotiables in any acquisition, and those are the steps you take to prepare and the risks you identify before they surface. The following processes worked for my business, and I believe every entrepreneur should master them to ensure an acquisition isn’t just another transaction.

Key Steps to Take Before Acquiring

Due Diligence.

Most entrepreneurs understand that due diligence involves poring over balance sheets and reviewing basic financial metrics. Yet, it’s easy to overlook the full scope of what a thorough compliance check really entails. It’s not enough to confirm that the books are in order. You must verify the target company’s adherence to current regulations, licensing requirements, and contractual obligations. Failure to do so can land you in murky legal waters if prior violations or expiring certifications come to light later.

Beyond these formalities, due diligence should extend into looking at how the team is structured, whether there are non-compete or non-solicitation agreements in place, and whether the company abides by local labor laws. Put simply, you should unearth every policy, partnership, and contract that could influence your bottom line or your brand’s reputation once you assume ownership.

Involve Your Team.

It’s tempting to keep an acquisition secret for as long as possible—particularly if you worry about confidentiality or negotiating leverage. However, involving your core leadership team early can illuminate blind spots. When finance, HR, operations, and legal experts bring their perspectives, you get a clearer view of a more holistic picture of potential pitfalls and synergies.

Equally important is integrating the human side of the equation. When employees sense that an acquisition is in the works but remain in the dark, anxiety and uncertainty can spread. By contrast, transparent communication fosters a sense of shared responsibility. People are more receptive to upcoming changes if they understand the strategic vision and why an acquisition benefits everyone. The sooner you align both organizations’ cultures and expectations, the more seamlessly those two entities can become one.

Assess Data Privacy and Security Protocols.

Entrepreneurs often overlook this area while focusing on more visible metrics like revenue and profit margins. To safeguard your investment, investigate the company’s data-handling practices: Does it encrypt sensitive information? Is it compliant with GDPR or other relevant data-protection standards? Has it ever reported a breach or faced regulatory penalties for mishandling personal data?

This process also encompasses the security protocols for employee records, client information, and intellectual property. If you discover a shaky framework at this stage, you can proactively implement upgrades, mitigate vulnerabilities, or even renegotiate the purchase price if the company’s data landscape proves riskier than initially disclosed.

Risk Prevention

Assess Competitive Advantages, Market Share, and Growth Potential.

Before signing on the dotted line, analyze the strength of the company’s competitive advantages. Is its brand recognizable, and does it command loyalty from customers? How does its market share stack up against established players and emerging disruptors? What is the realistic growth trajectory, and are there untapped opportunities that a more experienced management team could unlock?

When you bring these factors into the valuation process, they help you avoid overpaying for a business that appears profitable on paper but lacks true staying power in a fast-evolving market.

Furthermore, a thorough valuation should highlight both tangible (equipment, real estate, and inventory) and intangible (brand reputation, patents, and proprietary technology) assets. On the tangible side, look for outdated equipment or property that might require costly upgrades in the near future. Intangible assets are often trickier to assess, yet they can be the real differentiators. A venerable brand with a devoted following or a unique piece of intellectual property can dramatically enhance long-term returns — provided they remain relevant and protected in shifting market conditions.

Strong Foundation for Successful Acquisitions

Acquiring a business should not be a blind gamble. When you combine meticulous due diligence, cohesive team involvement, robust data security checks, and a forward-looking risk prevention plan, you’re on to a powerful, value-driven transition. In my experience, it’s the entrepreneurs who blend pragmatic caution with a daring, growth-oriented mindset who ultimately turn acquisitions into transformative milestones. Each step in this process encompasses all threat-reduction initiatives—it’s creating a resilient foundation on which your newly expanded enterprise can flourish for more years.

Wayne Wilson is the CEO & Founder of SynergenX Health, and owner of HerKare and Low T Center, three of the largest hormone care providers in the world. Wilson’s three companies have collectively served over 500 thousand patients, generating over $120M in annual revenues.

Recovering After A Fire: A Guide For Business Owners

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January 16, 2025

Woman standing in front of burned out house and holding her head with both hands

A fire can be one of the most devastating events that a business owner may face. Beyond the immediate damage, it can disrupt operations, strain finances, and create uncertainty for employees and clients. However, with a structured recovery plan, businesses can navigate the aftermath effectively.

Here’s a comprehensive guide to recovering after a fire.

Assessing the Damage.

The first step after a fire is to assess the extent of the damage. However, safety should always be your top priority. Before entering the building, make sure it has been deemed safe by fire authorities. Once inside, document everything, including photos and videos of damaged equipment, inventory, and structural issues, to create a detailed record. This will be invaluable for both your recovery process and your insurance claim.

Communicating with Stakeholders.

Transparent communication is critical during this period. So, as you start the process of recovering, dedicate some time to informing your clients and suppliers about the situation and your plans for recovery to ensure it won’t impact them too much. Regular updates help to manage expectations and maintain trust. If you can provide clients with timelines for resuming operations, this can help.

For employees, there’s a chance they’re shaken up by what happened, but this doesn’t mean that they won’t want to know about the plans for recovery. It’s critical to be a source of support during this time, letting them know about temporary work arrangements or closures and about the available help, such as counseling or time off, if they’re recovering from injuries.

Making a Claim.

One of the most vital steps in recovering after a fire is filing an insurance claim. This process can be complex, but it’s essential for securing the financial support you need to rebuild. Start by notifying your insurer immediately after the incident and send them all the documents you have, including your insurance policy, the inventory of damaged items, and the photos and videos you’ve taken.

For business owners seeking expert assistance, working with professional loss assessors can make a significant difference. If you go to a website like https://pcla.co.uk/, you’ll find all the information you need about managing fire damage claims and get advice from experts who can guide you through the process to ensure you receive the maximum payout possible from your insurance company. Their expertise helps to reduce the stress and complexity of dealing with insurance companies, allowing you to focus on rebuilding.

Restoring Operations.

Getting your business back on its feet is the ultimate goal. Depending on the severity of the damage, this might involve:

Hiring professionals to clean and restore the premises.
Repairing or replacing damaged equipment.
Setting up a temporary workspace to maintain operations during repairs.
Coordinating with utility companies to restore essential services.

Many insurance policies include business interruption coverage, which can provide financial support while your operations are disrupted. Make sure you understand the terms of your policy and leverage this coverage if applicable.

Conclusion.

Recovering from a fire is a challenging process, but with careful planning and the right support, it’s possible to rebuild stronger than before. By assessing the damage, communicating effectively, securing your premises, and leveraging professional assistance for your insurance claim, you can minimize the impact on your business.

Building A Strong Foundation: Key Strategies For New Entrepreneurs

Contributor

January 16, 2025

by Leah Notarianni, Co-Founder and CEO of Legacy and Leverage

Starting a business is an exciting journey, but it’s also one that requires focus, strategy, and adaptability. While it’s tempting to dive into everything at once — building a website, crafting elaborate plans, and chasing shiny new ideas—the most successful entrepreneurs know that prioritizing what’s necessary over what’s novel is the key to lasting success.

Here are practical strategies to help you get started and stay aligned with your vision.

Do What’s Necessary, Not What’s New.

When launching your business, it’s essential to focus on finding and validating a revenue-generating channel. This is what will establish your business as viable and help you refine your offering. Many entrepreneurs fall into the trap of trying to tackle everything at once — building websites, investing in flashy tools, or pursuing numerous side projects. However, none of this matters if your core offering isn’t driving revenue. Prioritize tasks that move the needle for your business instead of succumbing to shiny object syndrome.

Find Alignment Before Clarity.

It’s easy to get stuck overanalyzing a million business ideas, searching for the perfect one. Instead, focus on finding alignment. Ask yourself: What business do you genuinely want to build? What excites you enough to endure the inevitable challenges of entrepreneurship? Starting a business requires relentless energy, and without alignment, it’s tough to maintain the momentum necessary for growth. Whether you’re an entrepreneurial spirit with an artistic flair or a passionate problem-solver, focus on doing what you love — it will fuel your journey during both the highs and the lows.

Ground Your Vision in Numbers.

Many entrepreneurs have lofty visions but fail to ground them in financial reality. Understanding the numbers behind your business is non-negotiable. Take the time to calculate what it takes to be profitable. What are your expenses? How many sales do you need to break even or hit your goals? By grounding your vision with math, you’ll not only have a clearer path to success but also avoid the pitfalls of overextending yourself or running out of resources.

Be Flexible in Your Approach.

Flexibility is one of the most underrated traits of a successful entrepreneur. While it’s essential to stay committed to your ultimate goals, the path to achieving them may shift. Allow yourself to adapt, pivot, and explore unexpected opportunities as they arise. The startup phase is dynamic, and being open to possibilities can lead to innovations and strategies that are even better than your initial plan.

Innovate and Strategize.

Running a business isn’t just about execution — it’s about taking the time to think, strategize, and innovate. Some of the best ideas come from stepping away from the daily grind and evaluating your processes and goals from a fresh perspective. Give yourself space to dream, brainstorm, and think beyond your current constraints.

Starting and growing a business is not for the faint of heart — it requires vision, discipline, and the ability to adapt. By focusing on what’s necessary, aligning with your passions, understanding your numbers, and embracing flexibility, you’ll set yourself up for sustainable success. Remember, your entrepreneurial journey is as much about the process as it is the destination.

Leah Notarianni is a Transformational Speaker, Business Mentor, and the Co-Founder and CEO of Legacy & Leverage, where she empowers industry leaders to transform their life and business from the inside out. Through expertly designed programs — including live events, group and private coaching, and certifications — Leah helps leaders to strategically scale their companies and create a greater impact in the world.

The Importance Of Early Intervention In Preventing Business Insolvency

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January 16, 2025

Insolvency is a critical situation that many businesses hope to avoid. It occurs when a company can no longer meet its financial obligations and liabilities, potentially leading to its closure. However, businesses don’t always have to reach this stage before taking action. Early intervention is key in preventing insolvency and securing the future of a company.

In this post, we will explore the importance of addressing financial issues early on and the steps that businesses can take to avoid insolvency.

Recognizing the Warning Signs Early.

The first step in preventing insolvency is recognizing the warning signs before they escalate. Many businesses begin to experience financial strain due to a range of factors, such as poor cash flow management, declining sales, mounting debt, or ineffective cost controls. Identifying these issues early allows business owners to address them proactively. Regular financial audits, close monitoring of cash flow, and open communication with accountants or financial advisors can help spot potential red flags early.

The earlier these problems are noticed, the more options a business has for recovery.

Taking Swift Action to Address Financial Strain.

Once issues are identified, it’s important for business owners to take swift action. Ignoring financial problems or hoping they will resolve on their own can lead to bigger problems down the road. Early intervention may involve revisiting the business model, renegotiating payment terms with creditors, or cutting non-essential expenses. If necessary, businesses can also explore restructuring options or seek external financial advice.

The quicker a company addresses its financial issues, the better chance it has of turning things around before insolvency becomes inevitable.

Improving Cash Flow Management.

One of the primary causes of insolvency is poor cash flow management. When a business runs out of cash, it cannot pay its bills or fulfill obligations, leading to insolvency. Preventing cash flow problems requires careful planning and ongoing monitoring. Business owners should maintain a clear understanding of their cash flow by regularly reviewing their income and expenses.

Creating cash flow forecasts, keeping a buffer of emergency funds, and avoiding unnecessary debt can all contribute to more effective cash flow management and reduce the risk of insolvency.

Seeking Professional Advice.

Sometimes, the financial difficulties a business faces are beyond what the owner can manage alone.

In these cases, seeking professional advice is crucial. Experts like McAlister & Co specialize in guiding businesses through financial distress, offering tailored solutions to help regain stability. They can assist with developing turnaround plans, suggesting cost-saving measures, and negotiating with creditors when necessary.

The Benefits of Early Intervention.

Early intervention offers several key benefits. It allows businesses to avoid the negative consequences of insolvency, such as damage to their reputation, loss of customers, and legal proceedings.

By addressing financial difficulties early, businesses can often avoid bankruptcy and continue to operate, saving jobs and preserving value. Additionally, early intervention helps maintain the confidence of creditors, suppliers, and investors, which is vital for sustaining relationships and securing future financial support.

Conclusion.

Preventing business insolvency is crucial for the longevity and success of any company. Recognizing the warning signs early, taking swift action, improving cash flow management, and seeking professional advice are all important steps in avoiding insolvency. By intervening early, businesses can not only solve their financial issues but also protect their reputation and continue to thrive.

AI in 2025: Driving Sustainability, Security, and Growth Across Asia Pacific

Contributor

January 15, 2025

by Matthew Hardman, Chief Technology Officer, APAC, Hitachi Vantara

As we step into 2025, artificial intelligence (AI) continues to shape APAC’s future, with governments and businesses alike embracing cutting-edge technologies to solve critical challenges. The region’s rapid urbanization and growing digital economy make it an ideal environment for deploying innovative AI solutions, especially in areas like energy efficiency, hybrid cloud management, and intelligent automation.

Take data centers as an example. They’re at the heart of digital transformation, but their energy demands are skyrocketing. To tackle this, companies are turning to AI-powered digital twins — virtual models of physical infrastructure — to optimize energy usage and simulate efficiency improvements before implementation. This approach isn’t just theoretical; retrofitting existing data centers with these technologies is already reducing power consumption to be more energy efficient. In Southeast Asia alone, the data center market projected to grow by over 5% annually through 2029, reaching USD14.41 billion — this shift will have a massive impact on both sustainability and cost savings.

In energy management, AI is revolutionizing smart grid technologies across the region. By integrating machine learning models into grid operations, governments and utility providers can optimize energy distribution, predict demand fluctuations, and seamlessly incorporate renewable sources like solar and wind.

Hybrid cloud architectures are also seeing rapid adoption as businesses seek to balance the flexibility of public cloud with the security of on-premises infrastructure. Combining AI-driven management tools with Kubernetes for container orchestration, enterprises in the region can deploy applications dynamically while maintaining data sovereignty — a critical need given the evolving compliance landscape for countries in APAC. As the demand for massive data volumes to train AI grows exponentially, organizations must rethink traditional storage architectures. Object storage solutions accessible via industry-standard protocols provide scalable, cost-effective platforms for managing large-scale data compared to traditional block storage systems. When it comes to cybersecurity, AI is playing a pivotal role in combating rising threats. Advanced threat detection systems using anomaly detection models are enabling real-time responses to cyberattacks, while generative AI is helping businesses simulate threat scenarios to strengthen their defenses. As regulations like Singapore’s Model AI Governance Framework and Indonesia’s data sovereignty laws take hold, AI-powered compliance tools are helping organizations navigate these complexities while safeguarding their operations.

Small and medium-sized enterprises (SMEs), which form the backbone of the region’s economies, are also reaping the benefits of scalable AI solutions. From automating customer service with multilingual small language models (SLMs) to optimizing inventory management with predictive analytics, SMEs are leveraging AI to compete at scale.

As we look ahead, emerging technologies further enhance AI’s capabilities in APAC, enabling businesses to address localized challenges with unprecedented precision. AI isn’t just a buzzword anymore — it’s a critical driver of sustainability, security, and resilience, helping the region build a future-ready economy.

[Photo credits: Depositphotos.com]

Matthew Hardman is a passionate advocate for the possibilities that can be realized at the intersection of people and advanced technologies. Matthew currently holds the role as Chief Technology Officer, Asia Pacific at Hitachi Vantara, where he champions the development of a team of technical professionals in addition to leading the creation and execution of strategies to address customer needs to accelerate value realization and competitive advantage. Matthew has held leadership positions in Microsoft, VMware and other technology companies in the Asia Pacific region.

How Small Businesses Can Improve Their Cash Flow

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January 15, 2025

Cash flow is the driving force behind any small business. However, managing it is one of the biggest problems most entrepreneurs face. Without steady inflow, even profitable businesses may struggle to stay afloat.

Adequate cash flow is necessary for business success, but can dwindle when dealing with unexpected costs, customer late payments, or seasonal fluctuations. Fortunately, you can increase your cash flow by taking control of your finances and reducing gaps in your business. Let’s explore practical ways to achieve this.

What Does Cash Flow Mean in Business?

Cash flow refers to the movement of money in and out of a business over a specific period. Cash flow is positive if the cash inflow into a business is greater than the outflow. Conversely, this metric is negative when outflows exceed inflows.

Businesses usually generate revenue from sales while spending on expenses. They may also receive revenue from investments, licensing agreements, interests, and royalties. Some often sell their products on credit and do not receive cash immediately.

Understanding a business’s cash flow is important for determining its financial performance, available liquidity, and flexibility. A positive cash flow shows that a business is gaining liquid assets and can reinvest and cover its obligations. This metric is important if you’re trying to grow your small business.

How Can Small Businesses Improve Their Cash Flow?

Improving your cash flow as a small business owner can be pretty straightforward. While it requires consistent effort, you can address the problems effectively, bringing your brand back on track. Here are the steps to follow.

1. Encourage Customers to Make Payments Promptly.

To improve your small business’s cash flow, motivate your customers to pay on the spot. Late payments can easily disrupt your finances, making it harder to keep track of the money. Begin by setting clear payment terms, and then offer incentives like discounts for early payments.

2. Do Not Wait to Send Invoices.

By not sending invoices to customers immediately, you contribute significantly to delayed payments. This can strain your small business’s cash flow and disrupt operations. To solve this problem, use digital invoicing tools to automate the process of creating and delivering invoices. In addition, create clear and detailed invoices to prevent confusion.

3. Manage Inventory Properly.

Holding excess inventory is a sure way to tie up valuable funds that can be useful for other business needs. This does not necessarily mean that you should maintain insufficient stock. While cash flow is important, you must strike a balance with demand, aligning your purchases as needed. Proper inventory management prevents you from locking cash in unsold goods.

4. Increase Prices When Necessary.

Raising the prices of your goods and services may appear risky, especially as a small business owner. However, keeping up with rising costs is important to maintain your profit margin and ensure sustainability. First, evaluate your cost structure, market demand, and competitors’ pricing. This is necessary for ensuring profitability and improving cash flow.

5. Consider Commercial Finance Options.

Commercial finance options can be useful for small businesses targeting an improved cash flow. This additional funding offers more flexibility for these businesses to cover operational expenses, invest in growth, and manage seasonal fluctuations. Firms like BABR offer several finance options to bail businesses out.

6. Look for Additional Suppliers.

Small businesses can explore additional suppliers when trying to improve cash flow. By depending on one supplier, brands may face limited flexibility, higher costs, and supply chain disruptions, which affect the flow. Exploring other options allows businesses to compare prices and negotiate better terms.

7. Consider Crowdfunding.

Crowdfunding is effective for small businesses to boost cash flow while building brand visibility and community support. Brands can raise funds from people who believe in their products and services. Since most crowdfunding efforts involve pre-sales, your business can generate revenue before production.

Endnote

Small businesses must maintain a solid cash flow to survive in their industry. This involves encouraging prompt payments, sending invoices immediately, managing inventory properly, and increasing prices when necessary. If necessary, you must also consider additional suppliers, commercial finance options, and crowdfunding.

[Photo by Patrick Tomasso on Unsplash]

Tips For Creating A Customer-Centric Ecommerce Experience For Your Startup

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January 15, 2025

Creating a customer-centric eCommerce experience is a sure way to attract and retain customers in a competitive market. A survey by Statista indicates that about 95% of customers are more likely to purchase again if they receive a positive customer service experience on their first visit. These incredible numbers make investing in a robust customer-centric business an important approach.

Effective customer-centricity will help you focus on customer behavior and emotions, generating better experiences and improving your business results.

Below are a few practical tips you can employ to boost the success rate of your eCommerce business.

Assess Areas of Improvement.

Building a customer-centric business begins with understanding how your customers feel and knowing what they want. To get started, identify and document every area of your brand-customer interaction. You can then check how your message boards, live and online customer support, social media platforms, and live events perform and collect feedback. If the feedback collection methods are insufficient, develop ways to improve them.

For example, if your customers’ main complaints revolve around your payment and clearance systems, you might want to find out why they’re not working. Could it be that you’re not already using a reliable, high-speed credit card scanner to help with the customer payment process? Or is it that your team isn’t efficiently trained to use the payment technologies at the clearance counters?

No matter the challenge, the best way to learn about it is by listening to customers’ feedback from all available sources. You can then devise reliable solutions to improve each area of weakness.

Personalize the Customer Journey.

Once you’ve had a customer for some time, you can learn what they like and use that data to personalize their experience whenever they buy from you. You can use tools like automated messages to guide your customers along their own personalized journeys. A practical way to do this is to send automated, customer-centric messages about your brand and why customers love your products to shoppers who:

Recently browsed specific products on your website
Recently subscribed to your email newsletter
Left their carts behind without completing their orders

These personalized, automated messages can help improve the consumer shopping experience and distinguish your business from those that only send generic campaigns.

Optimize Intelligent Search.

An eCommerce website needs a search function that enables customers to find the products they need faster and more effectively. However, a normal search function alone isn’t enough. You can go the extra mile to incorporate an intelligent search system that improves the search process. Based on your customer’s search history, an intelligent search system helps predict related items your customer might be interested in.

This customized set of search results helps make work even easier for your clients and improves conversion rates. The more efficient, predictive, and quick your search function is, the less likely your customers will get bored and leave.

Train Your Team to Communicate Customer Needs.

Customer centricity means listening to and working closely with customers to meet their needs. You can accomplish this culture in your business by training your staff to speak the customer’s language. Every customer stepping into your store must experience the same level of attention and care, albeit personalized.

To achieve this admirable culture, have your teams routinely visit the customer support department for a day and learn a few things about the customers. They can learn about what customers ask for when they come into the organization and how important their input is in meeting those needs.

This way, every team player will play their part effectively to ensure each customer’s needs are met on time and satisfactorily. If customers ask for specific improvements, your customer support team should document those requests and pass them to internal departments for review and implementation.

Prioritize Quality Writing.

Well-written content offers a clear guideline to your customers as they navigate your brand’s sales funnel. Customers want to know more about your business; what it offers, how it operates, where it’s located, and many other details that can only be best captured in articulate writing. They also need to understand your product details and shipping and return policies.

When you communicate all these customer expectations through writing, they’re more likely to make decisions faster, even with their first visit to your website. While more established eCommerce businesses understand the importance of investing in quality writing, many startups ignore these skills until it’s too late. You can use an in-house content creation team or outsource to freelancers, training them on your business’s best practices regarding content production.

With so many eCommerce businesses coming up every year, the competition keeps getting stiffer. Running a customer-centric eCommerce business gives you an upper hand in attracting and retaining customers in a competitive niche. Customers will appreciate the convenience, familiarity, and care your team offers every time they shop with you.