Contributed Post | Mike McRitchie | Resume and LinkedIn Profile Writer | Telecom Marketing Content Writer

Essential Elements Of A B2B Business

December 17, 2018 by Contributed Post Leave a Comment

Running a successful B2B business is something which can be a big challenge. Unlike running a business which is targeted at consumers we are looking to promote and sell to other businesses. It is a much tighter niche to stick to and this is why every little element of the business needs to run as smoothly as it possibly can.

Social Presence

When you are looking to run a successful business in any field these days it is important to understand how crucial online presence can be. Being online can be just what you need to show people who you are and this can really help you to make an impact on the world. Being online can also help you when it comes to reaching potential new customers as you will be able to show off your brand in front of business people from all over the world. LinkedIn can be an invaluable tool for your B2B business and one which you should definitely make sure to utilise.

Be Aware Of The Competition

When working within such a specific niche and working against some top competitors it is more crucial than ever to keep one eye on the competition to see what kind of things they are doing with their business promotion and delivery. Working in a smart way to trump the competition will make a big difference to your success and growth within the industry.

Logistics

A huge part of any business is your logistics and you must make sure to have a team of dedicated experts to handle logistics for your business. If you act as a distributor to other businesses you will want to make sure that you have a solid plan in place which will allow you to order freight trucks, organise imports and exports and make sure that everything arrives in a timely manner. Take the Walmart Free 2-Day Shipping as a good example of working towards a short deadline to please your customers.

Save Money On Supplies

If you are acting as the manufacturer for business products, you will be thought of as the first line in the supply chain even though you still need to gather supplies from elsewhere yourself. As a manufacturer, the main priority you will have is to increase your profit margin by purchasing the cheapest supplies you can. This will involve a lot of research and it could be the case that you buy your supplies from somewhere like China where they are cheaper to make. This will allow you to save a lot of money and it will give you a bigger profit margin when it comes to distributing the wares.

Build Real Relationships

As a business person, you need to get out of the habit of cold calling other people because this can be damaging to your reputation as a company. Make sure that you take the time to form genuine relationships with other businesses. You can do this with regular emails and phone calls with people you know as well as by attending trade shows to network face to face. You want to become such a part of their every day lives that when they need a service or product you are the first person they come to for help.

10 Brilliant Reasons Why Top Companies Are Choosing IT Outsourcing

December 16, 2018 by Contributed Post Leave a Comment

Outsourcing your IT Services

Why are more companies outsourcing IT than ever before? Discover the ten reasons why IT outsourcing could be advantageous for your company too.

In 2017, the percentage of organizations’ total IT budgets spent on outsourcing rose to 11.9%.

As the technology needs of businesses have become more complex, not every business has the means or the staff to stay competitive. IT outsourcing gives even the smallest businesses a strategic advantage. IT can even help them compete on a global scale.

If your business isn’t meeting its IT needs, find out more about IT outsourcing below. Outsourcing could be the choice that finally spurs your business’ growth.

What is IT Outsourcing?

IT outsourcing, sometimes referred to as Managed Services, is when a company hires another business to take responsibility for internal IT resources. Outsourced IT companies are often referred to as Managed Services Providers, or “MSPs.” There are other forms of IT outsourcing that don’t fall under the Managed Services category.

Companies like Be Structured Technology Group in Los Angeles offer managed IT services. They provide services such as the following:

Cloud services
Email solutions
Server monitoring
Server virtualization
Backup and disaster recovery services
Cybersecurity services
Virus & Malware protection
Voice over IP (VoIP) solutions

You can incorporate outsourcing into your existing IT strategy. First, you should do an internal assessment to determine which functions you need to outsource. Once you do, you’ll be able to provide your company with the best available technology at the lowest possible cost.

10 Reasons to Outsource IT

The business landscape is more competitive and interconnected than ever. Many of the solutions listed above are now essential for businesses to survive.

However, most businesses don’t have the means to hire new employees to staff an IT department. This is due to several factors.

For one, hiring an internal IT staff is expensive. IT comes with a great deal of overhead.

There’s also training to consider. Finding the right candidates can take months.

Secondly, there is a growing shortage of IT professionals. By one estimate, there were 263,586 unfilled IT positions in 2017.

Companies outsource IT for a variety of reasons. Some companies do have an IT department but need external services to augment it. Here are ten reasons companies are choosing IT outsourcing.

1. To Reduce IT Costs

Ask any CFO and they’ll tell you that the IT department can be a cost center. The average small business spends about 6.9% of their revenue on IT costs. Midsized companies spend 4.1% and larger companies spend 3.2%.

These may seem like paltry amounts, but they add up to a large portion of spending, especially for small businesses.

It’s true that many businesses waste money on IT spending, but technology is also crucial to your business operations. Outsourcing is a means of reducing IT costs without sacrificing quality.

2. To Save On Labor Costs

The average base pay of an information technology specialist is just about $67,000 per year according to Glassdoor. Overhead costs compound this salary, though.

If you wanted to hire an entire IT department, you’re looking at hundreds of thousands of dollars each year.

Many businesses outsource IT to get access to a team of professionals without paying the overhead costs of an in-house staff. One of the biggest concerns that companies have, however, is the issue of control.

You’re giving an outside group of people access to your network. They may be responsible for your data security. They may also implement your backup and recovery plan.

The good news is that outsourced IT companies have years of experience with these arrangements. Not only are you saving money on your IT costs, but you’re also working with experts who have more experience than many of the job candidates you can find on the market.

3. To Maintain Uptime and Service Continuity

Hardware and software maintenance is becoming more challenging. For example, a marketing department at an enterprise company uses an average of 65 different applications. That means large businesses are using hundreds of applications, all of which require updates and configuration.

For your company to maintain service, you need end-to-end, uninterrupted functionality. An outsourced IT team can help you choose and manage your software and hardware resources to ensure service continuity.

4. To Reduce Risk

Every business, no matter how small, encounters risk. It may come from volatile economic conditions, external cyber threats, or a surge in competition.

When risk rears its ugly head, you don’t want to be on your own.

Outsourcing IT functions lets you share some of your risk with your IT company. They’ll maintain an immense base of information technology knowledge. They can help you address cyber threats and outflank your competitors.

5. To Stay Focused on Core Objectives

Having to spend time dealing with IT issues takes you and your team away from other essential tasks. One of the simplest reasons to outsource IT is to free up time. Instead of chasing down a network issue, you can focus on delivering value to your customers.

Outsourcing also helps put your mind at ease. You’ll play a role in your IT environment, but not as direct a role as you would with your own staff.

6. To Access New Resources and Technologies

Outsourced IT companies have expertise with the latest software and hardware. They can help you choose the best technologies and provide you access to new ones.

Outsourcing to gain new technology is a strategic way to avoid obsolescence. You can future-proof your business and stay competitive.

You may not have time to keep tabs on emerging technologies. But you can guarantee your managed service provider does.

Outsourcing can also give you access to other technology services. For example, if your company is going green, some managed service providers can help you in your initiative. They may even be able to provide you with technology recycling.

7. To Create a Backup and Recovery Plan

Nothing is more crucial to your business data than a backup and recovery plan. If your company has immense amounts of data, this may be a difficult task to do on your own.

An outsourced IT team will either act as a broker between you and a cloud storage provider. They may also help you install an internal backup and recovery plan. They’ll typically advise you to back up your data in several locations.

For example, you may have a physical server backing up data on-site, but your IT provider may tell you to back up your data on a virtual server as well.

Once you establish your backup plan, your outsourced team will help you create a recovery plan. They should give you an estimated time to recovery, should the unthinkable happen.

8. To Ensure Compliance with Regulations

If you followed the implementation of the General Data Protection Regulation (GDPR) in Europe, you’re aware of how burdensome regulations can be to businesses. No business can go without data in today’s economy, but not all businesses have the means to comply with data regulations.

Currently, U.S. data regulations aren’t as strict as Europe’s. But lawmakers are eyeing GDPR as a possible model for future regulations. The regulatory landscape changes year by year, so it pays to prepare yourself.

An outsourced IT team will have extensive knowledge of all the regulations that will apply to you. They can help you address risk at a global scale and meet compliance standards wherever you do business.

9. To Increase Data Security

Increasing data security might be the most compelling reason to outsource IT. It’s becoming difficult for small-to-mid-sized businesses to keep up with the growing list of cyber threats.

Whether it’s phishing scams, malware, or DDoS attacks, it takes an entire team of professionals to protect a business. An outsourced It team can help defend your business with the following services:

Risk and vulnerability assessments
Intrusion detection and prevention
Managed network access control
Managed next-gen firewall
Advanced Security Incident Event Management (SIEM)
Network, systems, and applications security assessments
Development of security policies and procedures
Security architecture assessments
Security engineering

Small businesses face the same cybersecurity threats as the biggest businesses in the world. Outsourcing your cybersecurity needs can provide you the same defenses they have as well.

10. To Become More Competitive

Outsourcing your IT needs can boost workflow in your business. You’ll get access to technology that makes you operate more efficiently. The IT company you work with can even help you save time and resources.

Companies that implement IT themselves must do research, then develop and install their IT infrastructures. If you don’t have the staff to do this on your own, you likely can’t afford the costs, either.

Outsourcing prevents you from having to pass on costs to your customers. You’ll be able to bring products to market faster and provide your customers with state-of-the-art service.

IT Outsourcing Can Help You Meet Your Tech Requirements

In a survey by Indeed.com, 86% of hiring managers said they find it challenging to find and hire tech talent. As the technology skills gap continues to grow, more and more companies will need to rely on IT outsourcing to fill their needs.

Is your business looking for branding and communications guidance? Do you need help with your IT outsourcing strategy or another tech project?

Contact Mike McRitchie to get business help right now. Mike is a small business strategist with over 20 years of experience as a project manager, program manager, and director-level leader.

A Real Estate Dictionary for Beginners: Key Investment Terms You Need to Know

December 14, 2018 by Contributed Post Leave a Comment

Real estate investing strategies

Real estate investments can be a lucrative game, but there are basics you need to know first. This real estate dictionary will help you get started.

In the United States, over 5 million homes were sold in 2017. If you want to get into the game and start investing in real estate, you’ll need to first know the appropriate lingo for the job.

Knowing this terminology will help you start your venture and have you looking like an expert.

Here is a real estate dictionary for beginners with all the key investment terms you need to know.

NOI is Net Operating Income

An NOI is the difference between your income and your expenses in relation to your rental income properties.

Note that your income isn’t always just the money you make on rent. Commercial rental income can also include other add on’s such as parking permits and other services like laundry.

The expenses are any costs from running the income property like property tax, utility bills, and management fees.

Broker Price Opinions are Valuable to Your Sale

Real estate brokers can take a walk through your commercial or residential property and give their opinion of the value of the home and at what price it can sell. Know that a BPO and an appraisal are two different things.

An appraisal will be more thorough, but a broker price opinion will still offer a written opinion. The agent can then use this opinion as a way to justify the price of the listing.

Always Know the Price Per Square Foot

Knowing the price per square foot value of your property will help you evaluate and understand how much the home is worth.

To calculate your price per square foot, you’ll need to divide the sales price by the total square footage of the home. You can also use this as a convenient tool that will allow you to compare two similar properties against each other that are in the same market.

Short Sales Can Be Good Investments

A short sall happens when mortgage lenders agree in a settlement letter to lower sales price than that the homeowners owe them. A short sale can often take longer than a normal sale.

You’ll find that these sales will go through a third party like an attorney in conjunction with other real estate agents.

Even though they can take some time, short sales can also be some of the best real estate investments that you can make.

ROI Should be In Your Real Estate Dictionary

To figure out how well your investment is working, you can calculate your ROI or Return on Investment. To do this, you’ll need to see how much money you’ve spent on the investment and how much money you’ll make after you sell.

The formula that you need for this is ROI = Net Profit of Investment/Total Investment Cost.

Launch Your Career

This real estate dictionary will help you start your journey in real estate investing. Read more into these basics so that you can use them to launch your career in real estate investing.

Mike McRitchie helps advise achievers to reach their fullest career and business potentials.

Continue reading through our articles for more career advice and tips.

Practical Ways to Cut Costs to Your Small Business

December 12, 2018 by Contributed Post Leave a Comment

Keeping costs low is as important as making sales if you want your business to succeed. Some business owners do not realize this when they are new to trading, but they soon find out as the money starts to disappear. Cutting costs can make a huge difference to the success of your business and over a year save you thousands of dollars.

Use Freelancers

It is estimated that by 2020 more than 40% of the American workforce will be freelance. That gives you great opportunities to save money, but you do not have to wait until then. There are already many of them with skills such as writing, data entry, social media management, bookkeeping, and many other things that could help you. Freelancers only charge you for the work they do, so they can be a cheaper way of getting things done rather than employing more staff.

Check Out Your Energy Costs

It is very easy to just keep paying energy bills for your business without taking too much notice of them. You should be looking a lot closer at the deal you have and seeing if there is not a better one you can sign up to.

It also helps if you and your employees become aware of the energy you are wasting. For instance, a computer left in standby overnight will cost almost a dollar a week. Multiply that by how many computers you have and by 52 weeks in the year and that can amount to quite a bit of extra on your bills. Make sure lights are turned off when they are not in use, and perhaps change all your light bulbs to LED. These will not only cost you less to run, but they also last much longer than traditional light bulbs and are more eco-friendly when you have to dispose of them.

Look At Your IT Services

If you are paying for IT services that you think is not up to standard, then look elsewhere. Ribbit Business Solutions is just one company that provides a service you can rely on at a cost that is affordable. They will be able to explain the advantages, and savings, of using cloud computing rather than more traditional computing.

Do You Really Need A Landline?

As more and more services such as Skype and FaceTime become available you really have to consider if you need a landline and the costs associated with it. You can make free calls from your mobile on Whatsapp or Facebook Messenger, so why are you still paying or a landline that you could easily do without? Certainly, many homes have done away with them and more and more businesses are doing the same. They are an unnecessary expense that you do not need.

At the same time, you should be checking your mobile contract to make sure it is the best deal you can get. Ask around for a better deal, and quite often you will find that your existing provider will match it rather than lose your custom.

There are many other ways your business could cut costs, including things like becoming paperless, asking for discounts on supplies, and probably many other things that have not been mentioned. Keep looking closely at what you do and how you do it, and be flexible enough to change if it saves you some money.

13 Less Obvious Career Choices for Motivated Women

December 12, 2018 by Contributed Post Leave a Comment

A good 50 years ago, women represented a small proportion of the workforce. There were the homemakers, the stay-at-home moms, and the Tupperware ladies. However, today there is a new generation or two grown up with a drive and ambition. They are not looking to be an administrator, a secretary, or a nurse. They want the same career options and opportunities as men. They dare to think outside of the box and seek opportunities outside of the traditional female industries. If you are interested in pursuing a less obvious career path, find a few ideas below.

Security

Women in security is a great idea. In fact, being underestimated has a lot of benefits. No matter if you are going to manage the security systems of a big office building, provide services for VIPs, or facilitate events, you are going to enjoy your job. Security jobs for women are challenging, give them confidence, and helps them achieve their career goals. The multitasking abilities of females make them extremely suitable for any job in security.

2. Data Analytics

Women often have a strong analytical skill. They avoid jumping to conclusions and consider various options and data. If you are any good with computers and databases, you will be able to pursue a career in data analytics. You can be sure that you will not end up in a dead end job. The technological changes drive the industry forward, and the more you practice and learn about the data analysis methods the more valuable you will become for your employers.

3. Civil Engineering

If you are looking for a career path that will be safe and provide you with loads of opportunities to grow personally and professionally, as well as promotions, you will certainly want to look around the job market of civil engineering. There are several jobs in governments and large organizations. You can travel the world, discover solutions to new problems, and connect with like minded people. Best of all, you can now complete a structural engineering degree online and change your future and career forever.

4. Project Management

Women are considered to be too emotional when it comes to project management. The truth is that the organizational skills make women perfect for the job. At the same time, working with people from all walks of life and communicating with them effectively is a challenge women are happy to take on. Dealing with various contractors, client requests, and keeping employees happy at the same time is a great task for a female leader. There are several great courses on project management, no matter if you would like to start your career in engineering or research.

5. Cybersecurity

The number of young women choosing this career path is still low, however, they have a lot to give for the industry. Women are good at paying attention to the details and analyzing data. They are also looking for a career path that is aligned with their personal beliefs and mission. Keeping people and children safe is a strong mission and can be aligned with every job in cyber security.

6. Armed Forces

Women in armed forces is no longer a myth, They are a great source of diversity and their views are represented in the latest policies. Women in the army or navy are talented, driven, and understand the importance of protecting loved ones and family values. No matter if you are starting at the bottom, or would like to put your leadership or interpersonal skills to good use, you will find the right career in the armed forces. Apart from job security, you will be a part of a community that is built on trust and collaboration.

7. Law Enforcement

Female officers and detectives are no longer a myth. They are a reality. In fact, you will be able to handle some situations better than your male colleagues. Apart from being a police officer and having a hands-on approach to protecting the public, you can also find a back office or leadership career within law enforcement. From collaborating with the public to liaising with other government agencies, there are some great opportunities that will help you put your interpersonal skills to good use.

8. Driving

It is time to break down the old stereotypes that women are not good at driving. In fact, there are just as many women on the road as men, and they cause fewer accidents. Still, driving for work is something women are not considering as a career option. The ability to multitask make them good at driving coaches and buses, and their positive attitude toward planning and staying safe will make them some of the safest professional drivers. No matter if you would like to test the latest models or drive a school bus; you will enjoy the responsibility and the challenge.

9. Technical Researcher

If your qualifications have given you academic degrees, and you are looking to make the most out of your career opportunities, chances are that you can approach research organizations and large companies to help them complete the technical research. Whether you are good at creating charts, reports, or analyzing data, you will find the perfect career path that will aid leaders’ decisions and strategy development.

10. Database Engineering

Business intelligence is in the focus of many companies today. If you would like to ensure that everything is going smoothly and you are spotting the trends and threats early, it is important that you gather data and analyze it. Whether you are starting your own database engineering and data analysis firm, or decide to become a database manager to help business leaders make sense of numbers, you will have a lot of opportunities and a great future.

11. User Experience Designer

Today, every business has a website. Larger eCommerce companies are looking for new ways of engaging with their clients and improving the relationship between the brand and the customer. User experience is important for the company’s reputation and the retention rates, as well. If you are an expert at customer service, or have a sociology, psychology degree or qualification, you can choose this career path.

12. Software Engineer

Applications, business software, and data analysis tools are becoming more popular every year. If you have a qualification that makes you capable of creating systems with the end user in mind and set clear goals, you can also become a software engineer, either by starting your own company or getting a contract with some of the largest companies out there in need of applications that make their processes faster, cheaper, and more effective. Educate yourself in the latest technology, and you can become the ultimate candidate.

13. Business Analyst

It is a fact that today many businesses struggle, due to the global competition they are facing. The good news is that data and intelligence will provide the solutions, you just need to be qualified to find them. This is exactly what a business analyst does. They usually wok on a retainer or contract basis and fix companies by changing some processes, procedures, and identifying the bottlenecks and problematic areas. A business analyst usually has a financial degree and an MBA to make them understand how businesses work in various industries.

If you are a woman, and determined to build a successful career, you might not have to look for the obvious choices when it comes to industries and jobs. There are several companies looking for female professionals with a set of skills and qualities, offering great career progression plans.