Changes That Will Have A Huge Impact On Your Business

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StrategyDriven StrategyDriven Editorial Perspective Article |Impact on your business|Changes That Will Have A Huge Impact On Your BusinessSmall things or changes can sometimes make a big difference in your business life. The benefits of using them are that they won’t take up too much of your time or money, you can start using them right away, and you can see the results the next day.

You want your business to do well. You also want to be a successful business owner and have a lot more time for yourself and your family. Getting all of these things done is not an easy task. But if you are an entrepreneur with a strong will and smart steps for making small changes, you can really make a big difference in your life. Here are some small changes you can start making right away and feel the real benefits of within your business.

Be Positive

Nobody wants to be negative or to be involved with negativity in any way. That is a fact. So, why would you want to spread negativity within and outside your company when you already know it is bad for you? Even when you are full of bad energy, you must remain as upbeat as possible. Only in this manner can you turn your negativity into mutual positivity in the far healthier working atmosphere that leads to success.

Be Clear And Concise

Can you make something if the person who tells you what to make is hard to understand? Probably you can’t. Do you, as a customer, buy products or services from a salesperson who doesn’t know how to explain the value of what you’re buying and help you understand it better? Most likely, you won’t buy from someone like that. So, when you work with other people, try to be as clear and concise as possible in everything you do.

This is a good practice to get into in life generally. It doesn’t matter if you’re talking to a client, employee, friend, family member, or someone you’ve only just met – the clearer you can be in all things, the more you’ll achieve.


Don’t Ignore Problems

If a business doesn’t have any problems, it doesn’t have a market. A business owner without problems is a non-business owner with nothing to do. You need to realize that the problems in your business are what will kill it. If there are no problems, there are no ways to get better. Without problems, there wouldn’t be any new ideas. But also, if the problems aren’t solved, there won’t be any improvements or new ideas.

Because of this, you can’t just let the problems go. You have to solve them if you want to keep making improvements and coming up with new ideas for your business. That’s your entrepreneurial job.

Understand Metrics

You can’t expect your small business to be on the right track to success if you don’t have a plan that keeps things from getting out of hand. You need to set up systems with the right procedures to help you come up with, track, and analyze the right metrics. These measurements will tell you how successful you are as an entrepreneur or how close your business is to the goals you want to reach. They’ll tell you if you’re doing the right thing and making the right choices.

Over-Deliver To Customers

To consistently meet and exceed your clients’ expectations, you must identify the things they need from you and incorporate them into your everyday work routine. Your company exists to provide a service or product that clients will find useful. If that’s the case, it’s time to get serious about making and giving back to your customers. Over-deliver and under-promise, and you’ll be successful, with loyal customers who enjoy buying from you. You could use MSP quoting software, for example, to ensure customers get pricing when they ask for it, and you could offer follow-up calls or send out feedback forms to check that you’re doing the right thing.

Educate Your Team

You won’t get where you want to go as an entrepreneur if you try to do it alone. Having said that, even if you have a reliable staff, that is no assurance of business success. You’ll want to hire intelligent, capable people who can improve with training and the knowledge they gain on the job. Therefore, share what you’ve learned rather than hoarding your expertise. If you want to see significant improvements in your business, training them is a must.

Manage Your Time

Starting and running a successful business is not something you can do in a matter of days. There will be a lot on your plate, some of which you may not have even realized were necessary at the time. Many business owners are unable to function effectively, causing them to slide backward. Your productivity as a business owner relies heavily on how well you manage your time.

How Different Automated Processes Have Improved Business

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StrategyDriven StrategyDriven Editorial Perspective Article |Automated Processes|How Different Automated Processes Have Improved BusinessOn the surface, it may seem like automation in business is a bad idea. The lack of human judgment should cause all manner of errors; however, many companies are embracing this technology for several reasons.

There is a lot that you can now automate inside your own business, and there are plenty of reasons to trust these processes. With that said, let’s look are the different automatic processes that are now entrenched in modern business to find out how they have improved productivity in some way.

Automation In Manufacturing

The benefits of using automated practices in manufacturing are fairly obvious and this practice has been around for a very long time. Machines can now be programmed to work as part of a conveyor system to build your product in record time. This means that you can manufacture a lot more in a standard hour than a human workforce ever could; therefore, you make more money in the process.

Automation In Inventory Management

Operating a large business can sometimes feel overwhelming. You have so much stock to manage, and one tiny error in this management system can lead to catastrophic consequences in the future. However, you can remove human error from the inventory and warehousing processes by using Texas 3PL.

A company like SCHC can handle all your third-party logistic needs with its automatic inventory management systems. These can place stock orders based on the current market trajectory and update your records regularly, so you always have an idea about how much stock you have. This prevents stock management problems, saving you money overall.

Automation In Human Resources

Automatic processes aren’t solely reserved for the mechanical side of your business. They can also be used in employee management.

Your human resources team is responsible for monitoring the work patterns and well-being of all your employees. Unfortunately, the data management side of this profession can sometimes take precedence over the human side, which can lead to your staff producing poor results. That is why you can now adopt a human resource database to automatically update your data systems. It can send out pay, update holiday leave, and even perform feedback checks to improve your employee’s experience. This allows your HR team to continue to focus on the more important aspects of their role, safe in the knowledge that all employee data systems are being handled.

Automation In Saving You Money

As you can probably tell, all the automated processes listed above are designed to save you precious man-hours during the workday. However, there is a more important reason why you should adopt these practices, and that is because it can save your business money.

Maintaining positive profit margins is the key to success for any business, so you need to cut costs to ensure that you always end up making money. Using automated systems removes the need to pay unnecessary employees and keeps the likelihood of human errors down. These errors can prove quite costly, so make sure that you trust your new automated systems to save your business money.

Summary

Any good business will already have some of these automated processes in place. Unfortunately, technology moves so fast that it can be hard to keep up. Try to stay on the lookout for new automated systems and you can operate your business at maximum efficiency.

What Are the Learnings You Can Refer to From Crypto Crashes?

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StrategyDriven StrategyDriven Editorial Perspective Article |Crypto Crash|What Are the Learnings You Can Refer to From Crypto Crashes?When writing an introduction, it’s important to remember that it’s the first impression your reader will have of your article. The purpose of the introduction is to summarize the main points of your article and whet the reader’s appetite.

You should also use this section to engage your audience with a question or statement that will make them want to read more.
The best way to write an introduction is by starting with a story, which can be something you’re familiar with or something you’ve read about in other articles. Once you have that story down, think about how it relates to what you’re trying to say in your piece: how does that story help explain why crypto markets are volatile?

What are Crypto Crashes?

Crypto Crashes are a normal part of the market, and they’re a good thing. These crashes happen when the price of crypto drops significantly below its average price. Crypto Crashes allow you to buy more at a lower price on the cryptocurrency exchange than you would have paid if you weren’t able to capitalize on their opportunity.

Crypto Crashes can be confusing because they don’t follow any kind of pattern or logic, but they can also be used as learning opportunities. If you understand why these crashes happen, then it will help you make better decisions when buying or selling cryptocurrency in future situations where things might get unstable in your portfolio.

Prepare for the Worst

  • Prepare for the worst.
  • Make sure you have a risk management plan in place.
  • Have a plan for what to do if the market crashes, or if it goes up or down by 50%.
  • Know your risk tolerance and make sure this is reflected in your portfolio choices: If you can ride out a bear market for six months, maybe consider holding more of your assets in BTC than ETH—but if you’re not willing to do that, then don’t invest any money at all!

Have a plan for how you will react if things go wrong:

  • Do you want to sell everything immediately?
  • Take profits off the table?
  • Or ride out the storm while hoping things get better?

It’s totally up to each investor how they want their portfolio to behave during these situations. However, they must know how best-suited their unique personality is towards handling them before making any decisions about their investments at all.

Don’t Panic

It’s tempting to sell your crypto when its value is low, especially if you bought it at a peak and you’ve lost money. But don’t panic.
If you’re thinking about selling all of your cryptocurrency, or any of it, wait until the market starts to recover. If there’s a crash, chances are good that it will recover eventually.

Even if there’s no recovery in sight, we suggest not selling all at once. That way, when the price begins to rise again (which we think it will), you’ll have some coins leftover that didn’t get sold during the crash!

Also, keep in mind: Selling now might mean missing out on future profits down the road. It is especially if things turn around quickly as they did after last year’s big correction.

Learn to Analyze Past Trends

In analyzing past trends, it is crucial to have a good understanding of what has happened in the past and why. Once you have this information, you can make predictions about what might happen next.

The best way to learn from past mistakes is by analyzing historical data for patterns. For example, if someone had invested in bitcoin at the beginning of its boom and sold when it dropped significantly (as many people did), they would have lost out on huge gains later on when the cryptocurrency started rising again.

This is because they didn’t understand how volatile cryptocurrencies could be or how they fluctuated over time.

You want to predict future trends based on historical data analysis. You can use Excel’s Sparklines feature or equivalent tools that allow you to quickly see how something has changed over some time. It is without having to manually enter all of your numbers every month/year/day into an Excel spreadsheet (or whatever tool works best for your needs).

Observe and Learn Patience

The most important lesson to take away is that volatility is normal. It’s easy to panic and makes rash decisions when the market turns against you. However, it’s important to remember that these things can happen—and they often do.

The best thing you can do is stick to your strategy and keep an eye on long-term trends, knowing that eventually, the bear market will end, just like all of those before it has.

Don’t get greedy! If an investment gives you a good return in one year but then declines by 50% in two years, then what is its actual ROI? You may have made money in one year but lost half of it by the time two years had passed. Like everything else in life: patience pays off.

Be Calm, Be Patient

When the price of crypto crashes, it is important to be patient and not panic. Do not sell your crypto because you think you will lose money on it. It is also a good idea to follow your investment plan and know what you are investing in.

The market has changed from when it started and now that more people are trying to make money from the market, there could be a lot of manipulation going on, especially by those who have huge amounts invested in this space.

So if you see something happening in the market or if something doesn’t look right, take some time before making any decisions about your investments.

Conclusion

It’s time to wrap up this article with a few key learnings. The following are some of the most important ones:
Be prepared for the worst and don’t panic when you see your favorite coin falling sharply.

When you’re in love with your investments, it can be hard to maintain composure during market crashes. However, if you take a deep breath and remain calm, you’ll be able to analyze past trends and consider potential causes for price fluctuations more clearly—and that will help you make better decisions in the future.

Why We Aren’t Prepared for What’s Waiting Over the Horizon in 2022 and Beyond

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StrategyDriven Editorial Perspective Article |Over the Horizon in 2022|Why We Aren’t Prepared for What’s Waiting Over the Horizon in 2022 and BeyondAn ambulance is racing down the freeway, transporting a suspected heart attack victim in critical condition. Long before the patient arrives at the hospital, doctors are remotely examining his condition, pouring through up-to-the-second data from sensors and video feeds transmitted from the ambulance over a 5G wireless connection. Even before he gets wheeled into the emergency room, the attending physicians already have a detailed picture of the problem and are ready to go to work. Or, even more exciting, the patient’s life was saved by being remotely treated while in the ambulance.

Amazing stuff, but it’s just the coming attraction.

We’re on the cusp of a transformative era where the deployment of real-time, event-driven technologies turns vast volumes of data into actionable information, leading to fundamental improvements in everything from commerce to personal security. For example, if a child gets lost in Central Park, her picture could be automatically transmitted to thousands of video cameras equipped with AI recognition to enable searchers to find her.

Or think about filling your grocery lists with the help of intelligent shopping carts that guide shoppers through a supermarket, optimizing their route and making suggestions based on what it knows about their buying habits. (In fact, these intelligent shopping carts are already being tested in Israel and the results show shoppers using them are spending on average 20% more per visit.)

That’s a glimpse into our future – if we do it right. But let’s not get too far ahead of ourselves. As cool as it sounds – and it is – this sort of advanced functionality is complicated and requires a reliable infrastructure that can guarantee the kind of high-speed bandwidth for the transfer of massive volumes of information – which still needs to be built.

Gaining an Edge

One advancement that will help speed this transition is the emergence of multi-access edge computing (MEC), which is essentially a distributed architecture where compute and cloud-like capabilities get pushed out to the edge of the network. This will be key because the new applications we’re talking about put extra demands on network capabilities, particularly when it comes to low latency, high bandwidth, and resource consumption. The telcos are best-positioned to lead the way here and we should expect to hear more from them over the next few years.

Think of the possibilities that would arise as massive amounts of data get filtered and processed on the edge in actual real-time as these systems react instantaneously to help manage critical events. Think back to our connected ambulance example. The system is communicating with the biometric systems monitoring the patient in the ambulance. If something about their condition changes, the emergency personnel in the hospital are immediately forwarded an analysis of the voluminous and complex data collected at the edge.

A lot is going on in the background as this deployment must support the dynamic movement of data in a distributed edge-enabled network. While the ambulance moves down the road, data sent from that vehicle must get transferred reliably. Maintaining ongoing contact with the ambulance literally becomes a matter of life and death where the system must guarantee that the information will get picked up by the next MEC down the road.

The Developer’s Dilemma

When it comes to designing applications that make all of that work seamlessly at the edge, we immediately encounter two problems. One is a developmental challenge, the second an operational one.

From a development perspective, you need to tie everything together to create real-time systems that essentially sense, analyze, and act on situations of interest. That’s not easy. Operationally, how do you deploy and then keep this edifice up and running? And how do you make sure that the infrastructure can handle the load as there’s a need for more capacity?

Also, an event-driven application in a distributed environment (such as when a connected vehicle changes from one network to the next) needs to be able to share data across multiple administrative domains. That raises new multi-tenancy issues. Do we share data across multiple administrative domains? How do we do that? Am I sharing inside the company or outside the company? My point being, that in a distributed environment, these developmental and operational issues get extremely complex in a hurry.

Think again about the example of our ambulance passing one MEC after another as it speeds to the hospital. The MEC is running the logic – essentially serving as a mini-cloud – where it’s analyzing the streaming data on the patient, such as an EKG. When the vehicle moves from one MEC to the next, however, what we refer to as the “state information” from the ambulance needs to get transferred seamlessly when the ambulance connects to a new MEC, rather than re-calculated from scratch.

Make it Simple

These types of applications are highly complex, and they won’t work with traditional development platforms where a simple application may take months or longer to create. This is the third time in my career that I’m building distributed systems. I did it at Ingres and Forte – and now again at Vantiq – and I can say from experience that it’s incredibly difficult. Things are getting too complex for us to hard code anymore. Even elite coders are discovering that this kind of task is near impossible and would require a series of discrete products to get the job done; and even then, it might take months to finish the project.

Frankly, we need to make coding a lot simpler – to find ways to help developers convert high-level operational processes into a framework for real digital applications.

One way to overcome this hurdle is to embrace an abstracted low-code framework that allows developers to handle the complexity that they’ll face in these kinds of scenarios. These low-code tools allow for a more agile framework that developers can use to create solutions much more quickly. While different forms of low-code have been around for a while, the approach is fast gaining speed thanks to the market’s demand for digitalization, which soared throughout 2020 as businesses accelerated their plans due to the pandemic. It also fits well with the need for speed found in mature agile DevOps practices.

How this unfolds in practice remains unclear, but the debate over the best approach must surface sooner rather than later. We’re fast approaching a future where we’ll need applications that can take advantage of the latest advances in IoT, AI, machine learning, and edge computing. And we’ll be there in a hurry.

About the Author

StrategyDriven Expert Contributor | Marty SprinzenMarty Sprinzen, Co-Founder and CEO of Vantiq is a visionary leader and successful software entrepreneur. The organizations he created and led have introduced some of the most innovative software solutions in the areas of systems management, relational databases, internet application development and, currently, real-time, event-driven applications. Sprinzen founded and became CEO of VANTIQ Corporation. Prior to VANTIQ, he was CEO and co-founder of Forte Software, which was acquired for over $1B. He also served as VP of International Operations and VP of Engineering at Ingres and VP of Development at Candle Corporation. He holds a BSEE from The Cooper Union for the Advancement of Science and Art.

Post Pandemic: Why Business Tech Is More Important Than Ever

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StrategyDriven Editorial Perspective |Business Tech|Post Pandemic: Why Business Tech Is More Important Than EverTechnology has completely changed life in so many ways over the past few decades. But we realised it’s value even more over the past couple of years- particularly during lockdowns and the covid pandemic. Not only did tech enable us to order the supplies we needed to stay at home, but it allowed us to keep in touch with loved ones, and also keep the economy afloat by allowing us to move many of our businesses’ processes online. While this has been something that’s been happening gradually for some time, the pandemic accelerated the shift and now that we’re returning to normal life again, there are lots of areas we’ll never turn back in. So implementing good technology is more important than ever if you want to keep up with your competitors and provide the service expected by your customers. Here are three examples of types of tech you can utilise in your company, and specific examples of softwares to consider.

Security Technology

Online security

Security in modern business has to go beyond firewalls and anti-virus software if you want to keep it properly protected. Hackers can interrupt businesses massively, and cost companies millions of dollars every year- as well as their reputations. Good technology can protect your company’s information and finances and is absolutely crucial not to overlook. From AI cyber security to embedded authenticators (which employ multiple levels and methods of authentication working in tandem) to blockchain cyber security- there are plenty of different options out there these days so do your research.

Digitally linked security systems

These types of smart security systems from CCTV to alarms can protect your physical businesses from everything from vandalism to theft. These modern systems are able to provide you with real-time alerts, contacting you via your phone or the police directly. If you have a premises such as a shop, office, warehouse or factory then you’ll need to consider ways to keep it protected.

Customer Service Technology

CRM software

CRM software enables you to offer excellent customer service to all of your customers. It tracks information such as products they have viewed and purchased, the feedback they have given you and any marketing materials you have already shown them. Not only can you use this to sell further products to them, but it gives a more personal feeling approach which can improve customer satisfaction.

Scribe technology

AI based scribe technologies like deepscribe.ai can take care of documentation, allowing businesses such as those in the healthcare industry to take better care of their patients. Human medical scribes are expensive, but medical dictation tools aren’t 100% reliable or efficient. So by utilising AI technology, we’re able to get the best of both worlds. Instead of focusing on the screen, practicioners can focus on their patients and provide a better quality of care.

Recruitment Technology

Online testing

With online testing you can quickly narrow down a large pool of employees by having them take a test set by you, and filter out the ones who fail. This can be particularly useful if your position attracts a lot of candidates, or you’re interviewing for a higher position and feel that the candidate you want should definitely have knowledge of certain areas. While it’s not completely foolproof and could possibly exclude potentially good candidates due to nerves or a silly mistake they’ve made, it can make a wide pool of candidates smaller and more manageable and ensure those that remain have at least foundation knowledge that you’d expect from someone at the level you’re looking to employ.

Video interviewing

The next best thing to a real life interview, since you can see the person including their body language and other factors that might be missed during phone interviews. Pre-recorded video questions can be sent to candidates and then the footage can be watched back at a convenient time. This is something that would be useful if you plan on hiring a remote team, or if covid restrictions where you are means that standard interviewing isn’t possible.

Recruitment software

Lots of metrics can be measured using recruitment software and reviewed afterwards; using technology here will save you time and money. Consider options such as applicant tracking software and management software. If your company is larger and you’re recruiting often then this could be a fantastic investment.