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4 Technological Investments That Small Businesses Should Consider

August 19, 2019 by Keith Coppersmith Leave a Comment

Technology has become the life-line in almost all areas of modern life, including business. We rely on it as a source of information, as an aid to communication and a useful tool for work. All in all, technology and business are so intertwined that if the power was out and the laptop and mobile batteries were low, the businesses would be lost for a while.

Inevitably, a business owner needs to think in terms of different technological advances so as not to lose an opportunity to expand and grow. Since there is a multitude of software and hardware solutions which appear daily on the market, it is sometimes difficult to assess what would be useful and what is a waste of money. So, here is a short list of investments that you might find applicable in your everyday work.

Revising payment methods

All people who regularly shop online have found themselves in a pickle at one point because of the payment methods the website supports. It often happens that people look at the picture of the product and then go straight to see the payment options so as not to waste time reading the description and checking the price if they don’t have the means to pay through the offered channels.

This is especially important if you are planning to expand your small business globally or if you are already on your way to extend your reach – countries offer different cards to their citizens so sometimes a customer would need to ask a friend from a different country to buy something for them. So, to facilitate their shopping experience, besides a Visa and Mastercard, think in terms of PayPal for global purposes, and UnionPay for China.

Improving overall data security

There is no need to discuss how paramount data and cybersecurity is and how important it is to make sure your customers’ and your business information are kept safe. It is advisable to introduce a password manager software that will keep track of everything, as well as to enable two-factor authentication to add an extra layer of security to crucial apps.

In order not to worry about your employees potentially opening phishing emails, you should install anti-malware software and also, it is vital that you educate your employees about the possible dangers and all protection tools you are currently using. Also, it is highly recommended you update all software regularly and back up all data. Another thing to keep in mind is that you need to delete unused accounts so that attackers cannot get their hands on the old credentials.

Supplementing customer service tools

What every wise small business owner knows is that without proper support and communication with customers, the chances for a business to grow are slimmer. So, you need to go the extra mile to keep your customer satisfied and to aid the communication between them and your customer support team. For instance, if you offer phone support, your small business phone system needs to include VoIP connectivity as well as accounting calls with the aid of different recording and screening systems.

And if you offer support via chat, chatbots are a useful addition: as your business is expanding, you will get more customers, which means more work. However, not many prospective customers actually take the time to read the FAQ section or go through your website, so a chatbot can serve as a gatekeeper for those who ask questions that are already plainly answered in the FAQ. This ultimately saves time to live agents and allows them to be more efficient.

Introducing HR software

A good HR software is necessary to record everything related to an employee: hiring, performance, payroll and benefits and in that way, protect both your rights and your employees’. When choosing the right software, you should consider the number of employees and how easy the software is to use since a complex system will not help but complicate matters.

What you should also be looking at is the payroll processing segment so that the payroll system could benefit from the data related to an employee which are stored there, such as the name, hours worked and the pay rate. Reliable software should be able to also keep track of time off and leave so as to be able to manage the number of active employees at all times.

Conclusion

For a business to prosper, it needs to have a flexible structure and to accept the fact that the strategy needs to be dynamic in order to keep up with all the changes related to materials, products, interests and many other segments. Most of the time this task isn’t easy and you need a team of enthusiasts around you who will be open to new opportunities but who will know how to assess what is a good move and what is just an impulsive call.

This applies to technology as well since you never know when a revolutionary improvement may appear and if you are one of the first to hop on board, you can gain a significant advantage over your competition. Always be on the lookout for practical solutions that can aid your business and allow both you and your employees to be as efficient as possible.

Is The Fear Of Starting A Business Legitimate?

August 16, 2019 by Contributed Post Leave a Comment

Just take a second to step back and realize what exactly, starting a business really means. Practically, you’re beginning infrastructures that will either belong to you, or paid for by you. Real physical things like a commercial office, a building, a car park for employees, the brick and mortar store, everything you work with day in and day out is yours. You’ll also be working with or hiring other businesses, such as distributors, transport logistics, trucks, cargo planes etc. Your financial future is therefore tied to what you have created. It’s not like you can just do 8 hours a day and then go home. Business owners have to make their business their lifestyle. Hiring people, taking on the responsibility of following workers rights and also paying your staff on time and in full. You’re also going to be ruthlessly competing with other businesses. There is no hugging and kissing here, you’re trying to take the other business out everyday. So is the fear of starting your own business legitimate?

Do you want control?

Perhaps the number one reason people start their own business is because they want to work for themselves not somebody else. In the beginning they very naively think that the boss is just lounging around, reaping the benefits of their hard work. So they say they’ll work for themselves so they can keep the rewards. However soon you’ll realize that being the boss is the hardest job to do in a business. You’re responsible for everything. The leader doesn’t get to have normal 8 hour shifts, they have to be constantly by their phone ready to handle any problem. But if you do want more control over your financial and professional life, then starting a business really is a responsibility you must be ready to take on. Don’t think of the money you’ll make, ask yourself whether or not you’re ready to be held accountable for other people?

A lack of knowledge

The lack of knowledge to begin a business is also right up there in the top reasons why people don’t start their own business. Well, listening to people who were just like you but did make that first leap is incredibly helpful. Learning from their mistakes so you don’t have to, increases your knowledge without any risk at all. For example on this business podcast, they speak to regular people who have become entrepreneurs and small business owners. Unlike other podcasts that just care about the big names, this is a type of podcast where up and coming business owners talk about their personal experiences. Everything from people management, industry cultures, legal pitfalls and budget building blocks is discussed.

Being a name

Sometimes people just don’t want their name hitched to a business because they are in fear their public reputation might be diminished should they fail. However, you don’t need to make it public knowledge of who owns the business, you can create a name and identity that is nothing like your own.

People do have legitimate fears of starting a business, but the modern day tools at your disposal make taking on the responsibility much easier than ever before.

Getting Things Off to a Smooth Start to Your Manufacturing

August 7, 2019 by Contributed Post Leave a Comment

The early days of setting up and starting a business can often be spent doing research, assessing the market, looking into your competition, and then looking for ways to fund the business and get things started. One step of the process, especially if you have a product to develop, is starting talks with manufacturers. At that point, things can all start to feel real. But this isn’t always a smooth process, as you need to find one that will be right for you. So here are some tips to do and some pitfalls to look out for when it comes to creating a product for sale.

Set-up a beneficial partnership

Because your business is a start-up, you will have to take steps to make sure that you can be taken seriously by manufacturers, especially those that are well established. The volume of business that you will be able to bring to them is not significant either. So as a result, it is really important to look to create something like an incentive for the manufacturer to want to work with you.

Research

No matter if you are looking to set up a relationship with a manufacturer, or you want to set up a manufacturing unit of your own, then you need to do some extensive research before you make the ultimate decision of what to do. The best places to look are spots like trade journals, as well as fairs, and they can be good avenues to help you to do some research and connect with other manufacturers. You should look into all different things like their processes, what furnace monitoring they have in place, and their costing breakdown. So make sure that you research the people that you want to do business with, but don’t just settle for the first one that you look at.

Sort Out the Legal Details

Once you have made a decision on what route to go down, then ironing out the finer details and keeping this legal is the next step. It can be a good idea to visit government websites in your area, as well as talking to people that are already in the industry, that can help you and give you some advice. Then you can start to get the business licences and things in place, so that you can get your business up and running. When that is all done, you can start to go into business feeling much more confident, and start making decisions like hiring employees and getting the equipment that you need.

Have Several Open Partnerships

If you want to do well in business, then having several reliable options, rather than just honing in on one vendor over another, can be just what you need. Having a choice of good vendors to choose from, and then being able to alternate between the vendors that you choose, can really help to reduce the risk and can help you to have some really competitive pricing, which can be really great for your business.

12 Crucial Steps To Keeping Employees Safe At Work

August 2, 2019 by Contributed Post 2 Comments

As an employer, it is one of your responsibilities to keep employees safe in the workplace. If you put them at risk by being careless, you can get in a lot of trouble. It could mean lawsuits both big and small, damage to your reputation, and more. Knowing how to keep them safe no matter what is essential – below you’ll find 12 crucial steps to help you to do this.

Perform Risk Assessments

First of all you need to perform a few risk assessments to see what hazards could be lurking in your workplace. It’s a good idea to designate a competent person or do them yourself – don’t just give this job to anybody, as it’s very important. Note any hazards down, such as lots of wires that could cause a trip, or even files not stored properly that could cause a fire hazard.

Communicate with staff about the things that could be a risk. All employees need to know what the risks are and how it could be linked to their work. It’s no good carrying out risk assessments if you’re not going to effectively communicate the results.

2. Put Together A Health And Safety Policy/Plan

Putting together a health and safety policy or plan that everybody can understand and access will ensure you and your team are on the same page. It can also stop you from getting into trouble if something does go awry. If you own a transportation company, coming up with a fleet safety policy will help – your policy needs to be tailored to your specific business.

Also, make sure every employee understands what needs to happen should there be a crisis, whether by a violent person or a natural disaster. Having your plan looked at by a legal team may also be a good idea.

3. Get Expert Advice

If you’re struggling to do this alone, get expert advice. Law enforcement officials will usually be happy to offer suggestions and courses. Experts will know what works best, so don’t struggle alone.

4. Perform Drills

Performing drills will give you peace of mind, as it’ll ensure everybody on your team knows what to do and where to go in the event of an emergency. Carrying these out about once every 6 months is a good idea.

5. Provide First Aid/Basic Self Defense/Health and Safety Courses In the Workplace

Providing courses for your employees will not only help everybody to stay safe, it’ll give them important skills that they may be able to use outside of the workplace, too. They’ll appreciate that you’re investing in their development like this.

6. Secure Your Business Premises

Securing your physical premises is also an essential step – you need to keep criminals at bay, as well as consider anything else that could go awry. For example:

Install CCTV cameras
Consider hiring security
Back up your data and keep important data on the cloud
Use difficult passwords
Use a different password for each platform
Don’t give passwords/keys out to every employee

7. Designate Leaders Within Your Team

You’re going to want to ensure that there are leaders in your group who can coordinate and take additional responsibility if something were to happen. There can be a lot of miscommunication and stress when something goes awry, so choosing somebody who is great at making decisions and staying calm in tough situations is key. Just make sure they want the responsibility, as not everybody will like it.

8. Create a Welcoming Environment

Having a welcoming environment will mean having a team of employees who feel comfortable coming to you for help without any anxiety. An open door policy is key. It’s all well and good saying you have one, but make sure you have an approachable demeanor and that you take an interest in the wellbeing of your team the rest of the time. Listening to your employees before situations escalate is a must.

9. Put Prevention Strategies In Place

Putting prevention strategies in place when you have carried out a risk assessment will ensure everything is as safe as possible. Let your team know how to spot suspicious activity, and consider things like ID tags and sign in sheets. Before hiring a new employee, you’ll also want to look into their background and references. Don’t take their word for it. You need to be sure they are trustworthy and that they are who they say they are.

10. Reward Employees For Safe Behavior

Rewarding your employees for safe behaviour could be an effective way to ensure workplace safety is taken seriously. Small rewards can keep people engaged, so not only will you reduce workplace injuries, you may find your team become more productive, too.

11. Use Labels And Signs

Putting up labels and signs is effective and cheap. You can quickly communicate important information this way, and detail hazards quickly. These tools are good reminders and warnings for even the most experienced worker. Make sure they are placed everywhere there may be a hazard as a quick reminder.

12. Encourage Breaks and Rest

Employees that don’t take proper breaks or get away from their desks may appear to be working harder, but they could actually be hurtling towards exhaustion. Burning out is a real issue, and taking regular breaks can ensure that this doesn’t happen. Getting away from a desk or their workstation will allow them to eat a proper lunch or get some fresh air and then get back to work ready for whatever their day throws at them. Even encouraging naps could be the way forward, as many studies have proven this to be beneficial, so a number of businesses are rolling this out. You might think your team will get less done, but they could actually become happier, more productive, and less prone to injury as a result. You just have to trust them!

Keeping employees safe at work is incredibly important if you plan on running a successful business for the long term!

How To Protect Your Small Business

July 17, 2019 by Contributed Post Leave a Comment

When you build your very own small business, the looming potential threat of someone or something being able to destroy all of your hard work can be quite worrying. Establishing ways to protect your company and assets is an important step to ensure ultimate long term success, but it can seem somewhat impossible to cover all bases. However, figuring out where to start needn’t be as difficult as you might think, as there are a few top tips that can help you to discover the best ways of protecting your small business to prevent and possible damage in its lifetime.

Digital Threats

There are so many potential digital threats that your business may encounter, so searching for some kind of security to protect yourself and your data is highly recommended. It’s likely that you have stores of customer information in some kind of digital format, and it would be disastrous if an outside source could gain the chance of unlawful access and distribution. Setting up your own dedicated IT security team in house may not be a feasible option for most businesses, but luckily people like USWired have got you covered – they can act as an extra platform of professional support and protection when you need it the most. Installing some kind of firewall on every device inside your office environment should be high up on your priorities, as they will block suspicious traffic and reduce the chances of your network hosting a harmful virus.

Physical Threats

The chances of your business encountering some kind of physical threat should be prevented with the same dedication, as the potential damage could be just as serious. Risks can come in many different forms, from being broken into to being the victim of a natural disaster, but there are so many ways you can help your business to stay out of harm’s way. To deter the chance of robberies or unlawful entry to the premises, it’s a good idea to install some kind of CCTV system that will both act as a physical deterrent when spotted whilst also being able to record every single second. You can even access some CCTV system footage live from your phone when you are in a different location, so you can keep tabs on security even when you are not around. If you’re in an area that’s prone to flooding or any other type of extreme weather, then invest in some kind of protection that you can use should the worst happen. Carry out some research and identify the threats in your local area so you can take the right steps to stay safe.
Being able to protect your small business is so important, and the safety of your staff, equipment and reputation should be paramount in everything you do. Make an effort to evaluate the different digital and physical threats that your business might encounter within its lifetime and invest in the right kind of insurance to gain compensation if the worst were to happen.