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Category: SmallBusinessUpdate

SmallBusinessUpdate

  • Create a Marketing Strategy That’s Not Annoying, Says Bombora VP

    Create a Marketing Strategy That’s Not Annoying, Says Bombora VP

    “It’s really about customer experience,” says Nirosha Methananda, VP of Marketing at Bombora. “I think that is something fundamental to marketing. I feel like we have gone down this path of almost over automating and having to constantly pounce on people without necessarily being conscious and mindful of what their experience is on the other end. From my experience, it’s leading to me switching off and ignoring messages. I’m sure I’m not the only one. That’s basically why I’m passionate about creating a marketing strategy that’s not annoying.”

    Nirosha Methananda, Vice President of Marketing at Bombora, discusses the challenges of marketing without annoying your potential customers by bombarding them with marketing messages in an interview with Logan Lyles on the B2B Growth Podcast:

    Marketing Is Really About the Customer Experience

    As a B2B marketer, I get marketed to a lot. It’s something that I have increasingly noticed and I’m probably not the only one. That’s just becoming part of the experience in terms of being inundated with different messaging and different calls and this, that, and the other. Use this, do this, buy this, whatever it is. It’s really not a great experience. It doesn’t necessarily provide value. Marketers are so busy as it is, and I know that is applicable across the board with everyone we are marketing to. Being able to cut through the noise and having an understanding of all these different things is very challenging. 

    Having on top of it being inundated with this constant flow of messaging like meet me, meet me, meet me, is not very helpful. That’s one of the things that I’m passionate about. It’s really about customer experience. I think that is something fundamental to marketing. I feel like we have gone down this path of almost over automating and having to constantly pounce on people without necessarily being conscious and mindful of what their experience is on the other end. From my experience, it’s leading to me switching off and ignoring messages. I’m sure I’m not the only one. 

    Create a Marketing Strategy That’s Not Annoying

    It also leads to this annoyance and irritation which leads to distrust of brands and that’s not great for this industry. From a customer perspective those bad experiences, unfortunately, more than good experiences, they stay with you for longer and you remember that. Another thing that we don’t necessarily think of is that it’s wasteful. It’s wasteful of time and it’s wasteful of money especially for marketing and sales where money is a precious resource. It’s not something to be wasted. That’s basically why I’m passionate about creating a marketing strategy that’s not annoying.

    As an example, our Intent Event was our first flagship event that we did last year. It was a closed event so we did have limited numbers and we were limited as to what we could do with promotion. What we did was try to have mindfulness around what we were sending out and ensuring that it was helpful. Making sure that the recipients, the people that we invited, were given all the relevant information, but there was brevity in the communication as well as encouraging them to participate without forcing them to be there. 

    There was certainly some urgency around some of our communication but it wasn’t you need to attend this and this is why you must attend this. It was more about being a bit more subtle in presenting them the idea and the concept of what it was, why it would help them, and exactly the information that they needed. What that meant was not sending out multiple emails, being very controlled around it, really thinking about what the experience was before the event, to during the event, to after the event. We were really focused on the customer and making sure that all of the content and communication was educational and helpful.

    Create a Marketing Strategy That’s Not Annoying, Says Bombora VP Nirosha Methananda
  • Shopify Evolving Into World’s First Retail Operating System

    Shopify Evolving Into World’s First Retail Operating System

    “Shopify is evolving into the world’s first retail operating system,” says Shopify COO Harley Finkelstein. “We think the future of retail is retail everywhere. A brand that’s going to be successful in 5, 10 or 15 years from now needs to sell across any platform and across any channel where they have customers. The idea is that it all feeds back in one centralized back-office, the retail operating system, which is Shopify.”

    Harley Finkelstein, COO of Shopify, discusses how COVID has dramatically sped up the timeline for commerce moving online and has also moved Shopify closer to its goal of becoming the world’s first retail operating system:

    Shopify Evolving Into World’s First Retail Operating System

    Most people assume that Shopify is an ecommerce provider. We have more than a million stores on Shopify. If you were to aggregate our stores in the US we’d be the second-largest online retailer in America. Of course, we’re not a retailer but we’re a platform. But we now have these great economies of scale that we’re using to level the playing field for entrepreneurs and small businesses. That being said, what really Shopify is evolving into is the world’s first retail operating system. 

    What we’re trying to figure out is what do brands and entrepreneurs and retailers need, not just now but in the future? We think the future of retail is retail everywhere. A brand that’s going to be successful in 5, 10 or 15 years from now needs to sell across any platform and across any channel where they have customers. This idea of enabling Shopify merchants to very easily push their products to the Amazon Marketplace or the eBay marketplace or now the Walmart marketplace, that gives them access to a new set of consumers. The idea is that it all feeds back in one centralized back-office, the retail operating system, which is Shopify. 

    Then we’ve gone ahead and asked what else can we do for these merchants? Can we do capital? We’ve now given out about a billion dollars worth of cash advances and loans to small businesses. We’re doing fulfillment and we’re doing shipping. We’re increasing the scope and the relationship that we have with the million stores on Shopify. This is allowing them to become category leaders.

    COVID Speeds Up The Ecommerce Revolution

    From our view, it seems like the commerce world that would have existed in the year 2030 has really been pulled into the year 2020 (as a result of the COVID crisis). We’ve seen ecommerce as a percent of total retail go from 15 percent to 25 percent in the last three months. That’s the same growth rate that we’ve seen over the last 10 years. What really has emerged here is sort of this tale of two retail worlds. On one side you have these resilient retailers that are doing great, they’re pivoting, and they’re expanding their businesses. On the other side, you have these resistant retailers who have not made it. In many ways, it’s probably the most exciting time for retail in a very long time. 

    We talk a lot about these direct to consumer brands that are becoming category leaders. The Allbirds and the Gymsharks who started on Shopify when they were very small and have grown to become the incumbents in their industry. Every 25 seconds a brand new entrepreneur makes his or her (products) for sale on Shopify. We talk a lot about those new startups, those new DTC brands. But actually, what we’re also seeing on Shopify are companies like Lindt Chocolate or Heinz ketchup or Chipotle. They are signing up for Shopify and basically from like five days from contract to launch they are completely changing their businesses. 

    This resiliency isn’t simply in the hands of just the smallest of brands. Big companies are also beginning to think a lot more about how to stay resilient in this time. They’re moving well beyond ecommerce or thinking about offline commerce now. They’re thinking about how do they sell across social media? How do they sell across different marketplaces? So no, I don’t think it’s too late (to enter ecommerce) but I do think they have to rethink their strategies.

    Shopify Evolving Into World’s First Retail Operating System Says Shopify COO Harley Finkelstein
  • Choosing the Right Small Business Printer

    Choosing the Right Small Business Printer

    Business owners both large and small know how important the right printer is for day-to-day business operations. With so many brands, models, and sizes on the market today, how do business owners know the best small business printer to choose that is the correct fit for their business? 

    Print is Not Dead

    To start, an owner can look at the facts: 8 in 10 small businesses on the global storefront say they rely on a printer for their daily services. However, most small business owners buy consumer-grade printers to do heavy business work, thus overworking those printers and having to make reactive purchases to fill in those gaps. 52% of small business owners across the globe say they wish printer companies better understood the challenges they face, with 69% of small business owners worldwide find it hard to source reliable office supplies, printers being one of those supplies. 

    Over half of people own printers that break once a month or more. Why is this? Most ink printers are not made with a durable body and are also not made for the large work of a business. Laser printers are made with a highly durable steel-frame, making them ready to take on whatever job they are tasked with. Laser printers are also compact, easy for moving from location to location, while still keeping the ability to perform any big business features. 

    For small business owners, high costs of any device or program can be overwhelming. With laser printers, small business owners will only spend $0.05 for laser toner and $0.075 for laser printer ink that never smudges, dries out, or expires. With regular ink printers, small business owners can spend over $12,000 per gallon of ink. Laser printer cartridges leave more room for small business owners to spend funds on other improvements. 

    Security Considerations

    Laser printers can also be password protected and require a password to use the services to help prevent online security threats. These printers will also reboot when a security threat is detected and have a secure fax option for things such as financial information, saving you and your businesses’ personal information. There is a capability with laser printers to add multiple employees on a single network, creating your own “smart business” and a printer network specific for your business. Laser printers have built-in access to a cloud service, meaning everyone on your businesses’ network can access much-needed documents or even print from a distance. 

    In Conclusion

    For small businesses in the technology age, a laser printer seems to be the best choice for day-to-day operations. There are many benefits to using a laser printer for a small business, along with the added services laser printer companies offer such as cartridge recycling programs and the option to shop directly from the manufacturer’s website for refills to add an ease of mind to businesses operating with these printers. Small business owners, don’t let a bad printer slow down your business in this digital age. Make an informed decision on what kind of printer is best for you and your small business.

    Stop Making Your Business Printer an Afterthought
    Source: Lexmark.com
  • National Retail Federation CEO: This Is A Great Time For Innovation

    National Retail Federation CEO: This Is A Great Time For Innovation

    This is a great time for innovation,” says National Retail Federation CEO Matthew Shay. “There’s been a great increase in efficiency in the supply chain. Those gains are not going to be given back. Customers are going to continue to expect certain kinds of delivery and fulfillment opportunities that have been rolled out by retailers this year. They won’t give that up. They are going to want the convenience and they are going to expect to be able to maintain that in the future.”

    Matthew Shay, President and CEO of the National Retail Federation, says that the pandemic has made this a great time for innovation by retailers:

    This Is A Great Time For Innovation.

    Just look back a decade ago and the companies that were created in the midst of the great recession in 2008, 2009, and 2010. We saw a lot of new IPOs. This is a great time for innovation. Some of the predictions this year, for example, about the number of stores that would close or bankruptcies that we would see just haven’t materialized. Part of that is because consumers have been relatively healthy and part of that is because on a net basis we’ve seen new businesses opening to offset the closing. There’s an enormous amount of innovation taking place.

    On the issue of returns, there’s a big company located right here in Washington, D.C., Optoro, a big partner for many retailers helping them process returns efficiently. I’ve talked to senior executives at UPS today about shipping issues and there is a lot of innovation taking place. They are working very diligently and have a great delivery record so far. We are looking forward to getting all those gifts to American families. The biggest gift of all, of course, will be some additional pandemic relief.

    A Lot Of This Is Going To Be A Permanent Change

    The issue is how much of this consumer behavior has changed permanently and fundamentally? How much of us as Americans go back to our old behaviors? That’s going to play itself out. Certainly, a lot of this is going to be a permanent change. People will do more as we saw across all demographic groups, regardless of age, this entire year doing much more online. Some of that will remain sticky.

    There’s been a great increase in efficiency in the supply chain. Those gains are not going to be given back. Customers are going to continue to expect certain kinds of delivery and fulfillment opportunities that have been rolled out by retailers this year. They won’t give that up. They are going to want the convenience and they are going to expect to be able to maintain that in the future.

    With those kinds of innovations and that kind of resilience in the system against the backdrop of a year next year that could be extremely bullish if we get the vaccine rolled out, as we all believe it will be. I talked to a senior executive of one of the major pharmaceutical companies last week and they said early April or the end of May everyone that wants it will get it. We could be set up for a really big comeback for consumers next year.

    National Retail Federation CEO Matthew Shay: This Is A Great Time For Innovation
  • How HubSpot is Using Surround Sound Marketing Strategy to Drive Sales

    How HubSpot is Using Surround Sound Marketing Strategy to Drive Sales

    “There is a very smart individual at HubSpot named Alex Birkett based out of Austin, Texas,” says Scott Tousley of HubSpot. “He is working on this concept that is really starting to take off called Surround Sound Strategy. Essentially what that means is that it runs with the notion that marketers are selfish. All we care about is how do we drive more traffic to our website.”

    Scott Tousley, Senior Team Lead of User Acquisition for all products at HubSpot, was recently interviewed on the B2B Growth Podcast by David Kelly, General Manager at Sumo Dojo. Tousley discusses how HubSpot is using Surround Sound Marketing Strategy to drive leads and sales:

    Surround Sound Marketing Strategy Starting to Take Off

    There is a very smart individual at HubSpot named Alex Birkett based out of Austin, Texas. He is working on this concept that is really starting to take off called Surround Sound Strategy. Essentially what that means is that it runs with the notion that marketers are selfish. All we care about is how do we drive more traffic to our website. I don’t care where it comes from. Whether it comes from search or social or referral traffic or email, it doesn’t matter. You’re always looking at how do I get more traffic to my website? The reality is that when we are trying to buy something you don’t go to one website. You go to multiple different websites when you are trying to make a purchasing decision.

    For example, I’m in South Lake Tahoe right now. One search I just did recently was “best bars in South Lake Tahoe.” I wanted to see a list and I wanted to see some reviews from a couple of different websites. I also like to surf, so let’s say I’m in the market for a new shortboard. So I search for “best shortboards 2019.” First, I’ll read a listicle, then I will go back to Google and I will click on the next list. Then I will go back again and click on the next list. Then I will start to narrow my decision based on seeing the same thing over and over. Once I narrow it down I will do a versus search such as “lost puddle jumper” vs. “channel islands average joe.” I’ve narrowed my decision at that point.

    We Want To Be At All Stages of the Purchasing Decision

    What we are trying to do at HubSpot right now is figure out how to be everywhere. We want to be at all stages of that purchasing decision when people are searching for “what is the best blank that exists today.” Well, there are a ton of lists that are out there and a ton of review sites and HubSpot’s B2B software (has to be there). There are a lot of review sites just dominating search engines right now like Capterra, G2 Crowd, and Software Advice. A lot of those are pay to play. You have got to pay to get listed on what appears when you land via search. Most of them are.

    But listicles are free. Not only are they free to get added to, but they are free to create. That’s one of the biggest things we are working on right now. How do we change our mindset from being so obsessed at driving traffic to our website? How do we make sure that HubSpot’s brand is everywhere when you are doing your product research and you are on many different websites? We actually sometimes prefer that we drive traffic to multiple different websites where we are listed versus just to our own. It’s good for social grouping.

    Listen to the full interview with HubSpot’s Scott Tousley.

  • Personal Loan Marketing Ideas to Attract More Clients Online

    Personal Loan Marketing Ideas to Attract More Clients Online

    As getting a personal loan is the best way to fulfill personal financial needs, people often search and apply for instant loans online. This is the reason, loan providing companies must switch to advanced and reliable marketing strategies that resonate with the needs and requirements of modern clients. The personal loan market in the United States is exploding and outpacing competitors can help loan companies get more clients.

    Whether you are a personal loan officer or an agency, below are some effective personal loan marketing ideas you can adopt right now to attract more clients.

    Optimize Your Website for Search Engines & Mobiles

    Search engine optimization is one of the best and most effective digital marketing techniques to reach your potential customers when they are searching for products or services you offer. Optimizing your personal loan website for search engines using relevant keywords can get your company in front of more people looking for personal loans. Along with doing SEO, you should also optimize your website for mobile devices as almost 2 billion people are running around the world using smartphones. Payday LV is the best example of a mobile-optimized website as it is very easy to view on different mobile devices. Mobile-friendly websites also tend to rank higher in search engine result pages as per Google’s mobile-first approach.

    Content Marketing to Provide Useful Information

    Content marketing is another best marketing idea for loan companies to bring in more clients. In this digital world, more than 85% of consumers expect their favorite brands to provide informative and useful content. So, don’t disappoint your audience and start creating valuable and informative content for your personal loan website and other online profiles. You can write about loan guides, filling loan application forms, and best loan offers, compare loan providers or tell interesting stories about your company or clients. Make sure to create content in different formats like blog posts, social media posts, eBooks, podcasts and infographics, etc. This helps you fulfill the content desire of your audience in a variety of ways.

    Up-to-date Social Media Profiles

    Everyone is using social media these days and most people are on social media sites to find trusted and reliable brands to shop for products or services online. You as a personal loan provider should also be there on popular social media sites like Instagram, Facebook and Twitter, etc. Social media is a powerful marketing medium to promote your loan offers and consume potential clients’ information. Having a social media profile with outdated business details and content is as useless as sending out a parcel with the wrong address. Make sure your business details are accurate and updated across your social media profiles. This will help your clients reach and contact you easily.

    Targeted PPC Ads

    Yes, you can appear over the top search engine results through paid advertising campaigns like PPC ads. This is the best way to spend marketing bucks for reaching your specific target audience. You can run PPC ads for particular keywords that are focused on need-based queries. This helps you get your business out there in front of people who are about to make final decisions. However, you should choose the right keywords to bid for so you can generate more leads and convert them easily. PPC campaigns help you target a particular audience in selective areas.

    Online Reviews

    In this digital era of life, having a strong digital footprint is most important than ever to attract more clients online. Having a ton of positive reviews can help potential clients learn who you are, whether you are trusted or not, and if you can do exactly what they want. Modern consumers go through the reviews to check the credibility and trustworthiness of brands they are about to connect with. This is the reason; your personal loan company must also have enough positive reviews and recommendations to lure potential customers and win trust.

    To get more reviews, make the review process easier for your clients. Send them thank you notes to show gratitude and ask for reviews. Creating profiles on local business directories like Yelp is another best way to encourage people to share their thoughts about your products or services.

  • How to Make Hire Slow Fire Fast Work for Your Organization

    How to Make Hire Slow Fire Fast Work for Your Organization

    Many companies in the U.S have experienced hiring struggles in the U.S. since the start of the COVID pandemic.  There has been a shift in the job landscape that is putting a larger focus on how companies are hiring and firing their employees.  

    Almost 75% of employers have said they hired the wrong person for a position.  Amazon fulfillment centers offer full-time employees as much as $5,000 to quit but with the caveat of those quitting not being allowed to work at Amazon again.  Better.com fired 900 employees on a Zoom call in December 2021, which was criticized and considered harsh by many on social media.  Companies like these follow an old concept in business that employers should be slow to hire but quick to fire. 

    What does hire slow, fire fast really mean? Hiring slowly means that you give yourself time to carefully consider your needs and expectations, draft a new job description based on business goals, describe the skills and attributes needed for long-term success, and consider how well candidates will complement team dynamics.  

    Firing quickly doesn’t have to happen in an extreme situation.  Sometimes you end up through the firing process if you hire the wrong person.  However, you can avoid firing often if you try to forgive mistakes, think of firing as a hiring mistake and confront it head-on, focus on the long-term benefits, and approach employees with compassion while aiding their transition.  

    However, there are a few things hire slow, fire fast does not mean. It doesn’t mean hiring the right person when you find them.  Be sure to give yourself time to consider and not just hire the person because they applied early.  It also doesn’t mean to expect the perfect hire to drop right into your lap because most employees that fit your criteria can be trained to be excellent in their role.  

    All at the Right Pace

    Hiring slowly and firing quickly does not involve firing employees on a whim.  Fast firing is not a replacement for training, coaching, or changing roles to better suit a good employee.  It doesn’t signify having overly specific expectations as well.  Selective hiring is a luxury; employers still need to create a company where people want to work.  

    Hiring and firing at the right speed is good for employees and employers.  They maintain positivity and good company culture because teams that naturally work well together could be made.  Finding a good hiring and firing speed can ensure company success as well by minimizing bureaucracy and bloat while keeping the company agile.  

    The best benefit is the better long-term success for everyone.  If an employee is a bad fit, they won’t be happy staying which will negatively affect the rest of the team.  

    In Conclusion

    November 2021 saw more than 4 million people voluntarily leaving their jobs.  With all of the changes happening in the job market at the moment, it is more important now than ever to hire slowly so employers can find people who will help the company in the long run while making employees happy at their new job.

  • 4 Ways You Can Actually Make Your Business Work Smarter, Not Harder

    4 Ways You Can Actually Make Your Business Work Smarter, Not Harder

    The fast-paced nature of modern society has everyone trying to get more done in less time. Business owners especially have a lot to juggle, whether it’s brainstorming in a strategy meeting or mentoring a newly hired executive. Owners also want to keep an eye on operations, offering direction and motivation when things veer off track. Keeping your output at the highest levels possible seems formidable, even with endless cups of coffee by your side.

    Despite the sheer number of tasks on your plate, all humans have limits. There will never be enough hours in a single day to accomplish everything. That’s why embracing the principle behind the phrase “work smarter, not harder” can help you be more productive. By approaching responsibilities and operations from a strategic mindset, you and your company can realize more efficient outcomes. Here’s how to make working smarter a reality.

    1. Rely on Automation

    Technology and artificial intelligence don’t have to replace everything employees do. However, tools that automate repetitive assignments and provide insights can enhance workers’ jobs. Automation and analytics save time and redirect employees’ focus to critical, complex tasks. From contact center software to apps that automate routine emails, there are plenty of AI-driven tools to streamline daily work.

    When deciding what to automate, look for assignments and activities that don’t require complex thinking. Responsibilities that happen frequently or according to a predictable schedule are also good candidates for automation. 

    For instance, contact center agents might type similar case notes for every call. Built-in templates and transcriptions can pre-populate most of the words, letting agents concentrate on serving clients. Meanwhile, interaction analytics help reps quickly assess clients’ sentiments about their experiences with the company. Agents can instantly shift their approaches and tactics to lower the temperature or enhance lukewarm engagement.  

    2. Delegate What You Can

    Business owners and leaders can fall into the trap of thinking that they have to do everything themselves. Or that if they’re not doing it themselves, they need to keep a close eye on someone else’s every move. However, maintaining a tight grip on every assignment, emergency, or business function will actually lower your effectiveness. Micromanagement also reduces your staff’s output, as they become fearful of making decisions or acting without your authority.

    Research shows that delegation skills can actually help leaders generate more revenue. CEOs who have higher delegation skills produce 33% more revenue than their peers who don’t delegate well. An owner’s delegation abilities thus play an important role in ensuring company success.    

    While it might be challenging to let go, look for matches between responsibilities and employees’ interests and skills. Trusting staff with higher-level and stretch assignments builds confidence, redundancy, and a leadership pipeline. Others can step in and keep the business running, allowing you to focus on the most important decisions.  

    3. Hold Purposeful Meetings

    Meetings are necessary to coordinate initiatives involving several departments, generate collaborative ideas, and determine action steps. At the same time, too many meetings or those without clear agendas will sidetrack anyone’s day. Productivity is lost due to conversations that lack direction or are simple announcements better handled by other means.

    Sometimes bringing groups together to go over information or reiterate previous discussions is overkill. Before you schedule a meeting, use a set of criteria to determine whether it’s essential. Once you figure out the main purpose of the get-together, you may realize it’s better to share the information another way. If the objective is to communicate procedural updates, it might be more efficient to point employees to a shared document. Managers can then handle any questions that might arise.

    Other things to take into account are the urgency of an issue and the scope of information. Matters that require quick decisions probably aren’t discussions to have through email. However, consider who needs to be involved and whether it’s the right time for them to make meaningful contributions. 

    For instance, network engineers might be considering a planned outage that will impact a group of customers. But if they don’t have a schedule in place yet, it’s not the right time to include the folks in marketing.

    4. Define Objectives and Focus on Results

    Spending time trying to solve poorly defined problems or chasing multiple solutions without clear objectives will rarely produce effective results. If you haven’t found the root cause of a problem or specified your goals, any efforts may be little more than busywork.

    In some cases, the actual problem might get worse or amplified. If the team isn’t sure why customers are losing internet service, for example, applying a solution may only replicate the issue. The time that could be spent isolating the real culprit will be wasted on implementing a non-fix.

    In the long run, it’s more efficient to document troubleshooting steps and permanent solutions. The next time the team runs into the problem or something similar, they can refer back to those steps and solutions. They’ll save themselves the trouble of reinventing the wheel by getting to work applying known fixes. 

    Likewise, formulating precise goals helps define what to work on and what to ignore. A business can’t be everything to everybody, an approach that is likely to cause burnout.   

    Conclusion

    Working smarter instead of harder is a technique business owners can use to boost efficiency and productivity. The philosophy and its methods often involve stepping back and critically examining what you’re doing and why. By automating, delegating, and defining problems and purposes, you can significantly improve your company’s operations.   

  • Best Business Phone Features for Small Business

    Best Business Phone Features for Small Business

    One of the most important pieces of hardware or software for small business people is their communication system. The fact is that you’ll almost definitely be using it on a regular basis, and if you choose the right one, it might provide you with a considerable competitive advantage.

    At the end of the day, every company needs a corporate communication network that is supported with a robust phone insurance plan. Establishing clear channels of conversation with clients, suppliers, and employees is essential, and small businesses can execute this task just as well, if not better, than large enterprises.

    These are the best features that small business phone systems must have to improve your business communication:

    Automatic Attendant

    Small businesses can benefit a lot from using an automatic attendant (also known as IVR) system. Tools like formal greeting, call forwarding, extension selection, and others are deployed using an IVR system.

    While many companies prefer personal interactions with their customers, an automatic attendant can help increase support efficiency, reduce waiting times, and also give a high level of customization and personalization. For example, with automatic call routing, your IVR can greet your customer by name and transfer the call to his account manager.

    This technology is perfect for working in a small office environment since it gives small businesses a more professional look. You can set your IVR to answer simple questions so your clients might get in touch with your small business 24/7.

    The advanced capabilities of an auto attendant must, without a question, be included in your current small business phone system.

    CRM Software Integrations

    Connecting with customer relationship management (CRM) and other business intelligence technologies is crucial for small businesses. In order to stay competitive, firms must identify and leverage every potential feature to increase their efficiency. Screen pop-up when looking for incoming Calls information, click-to-call, and professional phone appearance are just a few of the features available when your phone system is integrated with your CRM. Such features provide unparalleled effectiveness.

    Conversations Recording

    Recording calls is a useful feature for various small businesses. Not everyone can understand the advantages of this feature or will benefit from it regularly, but if you conduct business over the phone, having audio recordings is important because it allows you to evaluate discussions over time to enhance your effectiveness, and also refer back when you need clarification or reminding what was discussed.

    It is possible to use call recordings for several objectives, like collecting evidence for key concerns raised by a client over the phone or evaluating discussions to identify how to improve a sales presentation in the future.

    Conference Calling

    It is not always feasible to bring individuals together in person since business is now also performed remotely. Conferencing is simple, and you can have real-time conversations with as many people as you need. Simply put your caller on wait, choose a new line, then hit the conference option to attend the other lines. It is that easy! 

    Call Forwarding

    Having the ability to transfer conversations fast and easily is critical for properly managing inbound calls. One of the primary reasons firms switch to the most up-to-date, feature-rich phone systems is indeed the opportunity to do this more efficiently. Every phone user may easily send calls to other members of the team using the right phone system, which can be done with a single tap. Additionally, since you’ll have at least two phone setups, somebody else may be in a conversation at the same moment as you are.

    The Bottom Line

    The cloud-based characteristics of phone solutions provide a great deal of value to businesses. It’s hard to imagine a workplace without corporate phone services, whether it’s basic functions like call waiting or call forwarding or more sophisticated ones like CRM integrations, and also, they can be used for secure remote working. For big and small companies alike, this and the cost advantages over traditional landlines technology makes them an appealing alternative.

  • Online Tools for New Business Registration

    Online Tools for New Business Registration

    The latest Business Formation Statistics for January 2021 have revealed that the United States has experienced a surge of new businesses. Starting a new business is exciting, and it is only natural for entrepreneurs to feel uncertain and overwhelmed, especially in the beginning as a small business owner. With so many critical choices that need to be made at the onset, new business owners are often left with a multitude of unanswered questions and the constant concern as to what the next step will be.

    Add in the fact that with each passing year, especially with the current boom in new businesses, entrepreneurs have more advancements in technology to keep up with. While it can be a lot to take in at first, things such as search engine optimization, email campaigns, content creation, click to tweets, and conversion rates can be invaluable tools to implement into new businesses. Entrepreneurs will experience a whole other world—one that requires hard work and determination. 

    The internet has become a treasure trove of resources for entrepreneurs, providing vital assistance at the click of a button. Online tools have formed the foundation that allows new businesses to grow faster and better understand the ever-changing marketplace. They enable entrepreneurs to take control and establish a lucrative plan to successfully reach target audiences and put their business on the road to success.

    Entrepreneurs are able to do everything from finding a name for their business to securing a domain and even finding a registered agent. LLCs have become one of the most popular business structures for new businesses since they provide the benefits of a sole proprietorship or partnership and a corporation. Entrepreneurs will also receive both financial and legal protection, all the while avoiding double taxation. There is also a distinction between members of the LLC and the business itself; this allows for superior asset protection.

    The top states for LLC formation are:

    1. Texas
    2. Nevada
    3. Wyoming
    4. Delaware
    5. Florida

    Top Online Resources for New Business Registration

    Digital Platforms Dedicated to New Businesses

    Entrepreneurs will be pleased to note that there is a wide range of information available to help answer even the toughest of questions. The problem, however, is sorting out fact from fiction and finding a credible source of information. 

    Government Resources

    Government resources are often overlooked; however, the United States government has placed a significant amount of emphasis on growing small businesses over the years. They provide a host of different resources that are available for free at federal, state, and local levels. The government also provides various funding options for new startups, and most allow entrepreneurs to apply for government financial aid online. They also keep businesses up to date with the latest regulation changes and improvements.

    Cloud Computing

    Most small businesses benefit from cloud computing as it provides benefits such as easier remote working cost-saving and allows for the flexibility of being able to connect to the company anywhere and at any time. With web-enabled devices being a vital part of every person’s day to day life, especially in today’s business environment, it makes accessing data even easier. Business owners have the option of scaling up or down their operation and storage needs fast and efficiently–to suit the situation. This  allows greater flexibility as the company needs change. 

    Google Analytics

    Google analytics is a great platform that allows businesses to gain a deeper understanding of their customers. Users will have access to a range of free tools that allows for the analysis of data for the company in one place. Google will provide unique insights and machine learning capabilities to assist entrepreneurs to get the most out of their data.

    Final Thoughts

    With so many new businesses the marketplace is open to endless possibilities, while it is easier to start a business today than it was ten years ago, the business world has also become much more competitive. This is why entrepreneurs are encouraged to make the most out of the resources available to them.

  • The Cannabis Job Market: A Growing Industry

    The Cannabis Job Market: A Growing Industry

    The cannabis industry is growing in times when other industries are suffering. The pandemic saw many businesses close as stay at home orders kept people from visiting their usual stops. Businesses closing also led to many workers losing their jobs and having to search elsewhere for employment. With the wide variety of jobs available in the cannabis industry, thousands of people were able to find a position that was best for them.

    The Upward Cannabis Job Trend

    In 2020, cannabis employment exceeded that of many mainstream industries. More people were employed in the cannabis industry than in web development, engineering, or healthcare. This was important as 2020 saw the most jobs lost due to the pandemic and 77,300 people were able to be employed full-time in the cannabis industry. In 2021 legal cannabis supported over 300,00 jobs across the U.S! It is estimated that by 2025, the legal marijuana industry will employ up to 600,000 full-time workers in the many jobs it offers. 

    Some jobs in the cannabis industry require some sort of science background. The position of master extractor or extraction technician requires engineering and lab experience. These jobs oversee lab conditions and  ensure that all machines are in working order and that products such as oils and concentrates are up to standard. People in these positions also have to maintain strict safety standards, potency, and regulatory compliance.

    The position of master grower also requires some science background in horticulture or botany. These people manage large grow operations and ensure that the crops are being grown in the best ways they can be. There are jobs in trimming, harvesting, and cultivating that aid the master growers in the overall maintenance of crops but don’t require any specific scientific background. People in these positions are often recruited from lower paid cooks or dishwashers in the restaurant industry who are looking for new opportunities. 

    Retail Positions

    Restaurant workers aren’t the only people who can find new opportunities in the cannabis industry, retail workers also often find positions within the cannabis industry. Dispensaries need receptionists and cashiers that greet customers, answer calls, and process final sales. They are also responsible for verifying prescriptions, identification, and eligibility for purchasing cannabis and cannabis related products. Retail workers have experience in this work, and often find a more welcoming and friendly environment when they make the transition to the cannabis industry. 

    In the wake of the pandemic, another job in the cannabis industry was created: marijuana courier. Many dispensaries began offering delivery when the stay at home orders were enforced. People who drove the deliveries out were able to make a wage through their work, but also were given the opportunity to make sales commissions and tips. This position was especially useful for people who were laid off from their jobs and just needed to find work for a short period until it was time to return to their original position. 

    All of these jobs can be easy to find on different cannabis job boards. In preparation for finding a job in the cannabis industry, it is important to read up on the history, social impacts, and medical benefits of marijuana. Employers in the cannabis industry are looking for professionals rather than enthusiasts! Learn more about the opportunities in the cannabis industry in the infographic below.

    The Cannabis Job Market
  • Stop Making These 5 Deadly SEO Mistakes, Says Neil Patel

    Stop Making These 5 Deadly SEO Mistakes, Says Neil Patel

    After you stop making these 5 deadly SEO mistakes your google traffic is going to increase, says digital marketing expert Neil Patel. Sometimes just making a simple change can dramatically increase your traffic. For instance, Patel says that the moment he took out the dates from his URL his search traffic shot up 58 percent in just 30 days.

    Neil Patel, digital marketing expert and founder of Neil Patel Digital, discusses the five beginner SEO mistakes in his latest video release:

    Mistake 1: Putting Dates in URLs

    The first mistake is putting dates in your URL. I used to do this with NeilPatel.com. What a huge mistake. My URL structure used to be NeilPatel.com/year/month/TitleofmyBlogPost. The moment I took out the dates from my URL guess what happened to my search traffic? Within 30 days it went up by 58 percent. I’m not talking about taking my search traffic from a 1,000 visitors to you 1,580 visitors. I had hundreds and thousands of visitors from Google already each month with dates in my URL. The moment I removed them I saw an additional 58 percent increase in my search traffic.

    So whatever URL structure you have just make sure it does not have dates. Reason being is when you have a date in your URL, Google thinks of your site as being relevant to that date. You write a blog post and they’re like oh, this blog post must be related to January 12, 2025, or whatever the date is today. If you want your content to continually rank as evergreen content you can’t put dates in your URL.

    Mistake 2: Thinking of Your Site as a Silo

    The second mistake that you’re making is you’re thinking of your site as a silo. It doesn’t matter how many different sections you have or categories, it’s still one site. It’s on one domain name. For example, my blog is about marketing, so when I create content I link to all the other marketing posts (on my site) that are relevant to the posts that I just released.

    You should consider thinking of your website as one big site versus different silos so when you write content you should link to other pieces of content that are relevant. That way all of your pages are going to be interconnected and they’re going to rank higher.

    Mistake 3: Thinking of SEO as Just SEO

    The third mistake that you’re making is you’re thinking of SEO as just SEO. It’s not just about on page code. It’s not just about building links. It’s not even just about getting social shares. It’s about building a brand. Eric Schmidt, the ex-CEO of Google, once said that brands are the solution. What he’s talking about is that when Google was trying to figure out what sites to rank higher than others he decided as well as ton of other people in Google that if you have a brand you should rank higher.

    Why is that? You’ve heard of this thing called fake news. It’s a great way to combat that. It’s not just Facebook who’s concerned about fake news. It’s also Google, LinkedIn, Twitter, and all of the major platforms out there. Building a brand does wonders for you especially when it comes to SEO. You can do things like collecting emails to get people to keep coming back to your site. You can use tools like HelloBar to do that for free. You can use tools like Subscribers to do push notifications so that when people come to your website within one click they can subscribe. Getting all of those people to keep coming back will help reinforce your brand to them. That’ll help you climb in the rankings in the long run.

    Mistake 4: Just Writing Content

    The fourth mistake is just writing content. I know you’re that content is king, how is that a mistake? Writing content isn’t a mistake. It’s writing content and then not updating it, and that’s what most people do. They just write content and they write more new content then after that they write more content and guess what they do after that they write more new content. If you update your content Google’s going to see it as fresh, hip, new, and still relevant, and rank it higher.

    With over a billion blogs out there Google likes picking brand new updated content versus old outdated content. This doesn’t mean you have to rewrite the whole article. It could just be paragraph or two or a few lines. It could just be reviewing an article and making sure it’s still up to date where you make no modifications because it’s still good to go.

    Mistake 5: Not Thinking About the User

    The last mistake you’re making is not thinking about the user. Google looks at something called user metrics. Whether it’s the browser or the toolbar Google wants to make sure people have an amazing experience. They’re using all those platforms to track how and when people come to your website and how they perceive it.

    They can’t talk to them by serving them or anything like that. What they can see is when someone performs a Google search, clicks on the listing landing on your site and within a second they are they clicking the back button. If they are it tells Google your website or that web page isn’t relevant. By putting the user first instead of putting SEO first it’ll help you climb to the top.


  • Fiserve CEO: From Large To Small There’s a Comeback In Payments

    Fiserve CEO: From Large To Small There’s a Comeback In Payments

    “It’s a great space a great and a great opportunity,” says Fiserv CEO Frank Bisignano. “You have to love the clients and you have to love the payment space. The opportunity to build things and grow is always a lot of fun. From large to small there’s a comeback in payments and we see growth going forward.”

    Fiserv, a major fintech player worldwide, had a strong earnings report in the second quarter with 129 percent growth in revenue.

    Frank Bisignano, CEO of Fiserv, discusses how their Clover acquisition will help the company power their growth going forward. Fiserv announced that they completed their $22 billion purchase First Data which included Clover on July 29:

    From Large To Small There’s a Comeback In Payments

    Clover is an unbelievable platform. It continues to grow. It serves small businesses. We think it’s integral. Our bank partners love it since we announced the deal. We have 160 new banks that want to be Clover partners with us. It is growing. We talked about a 32 percent growth rate in July in the heat of a pandemic. It’s a tool that we help businesses manage their business through. It’s a great asset to help small businesses. We see it as an integrated solution for our company.

    We’ve seen growth with Clover. We talked about seeing what we call internal revenue growth which is driven by transaction volume. We see transaction volume up and there is obviously a large move to e-com. If you look at our Clover platform which has order ahead capabilities and virtual terminal that’s driving that growth. From large to small there’s a comeback in payments and we see growth going forward. There are still businesses coming back in the recovery. Lots of businesses are still working their way back. We’re here to help small businesses grow.

    Fiserve CEO Frank Bisignano: From Large To Small There’s a Comeback In Payments
  • Shopify: We Are Arming The Rebels

    Shopify: We Are Arming The Rebels

    “We are arming the rebels… the entrepreneurs, the small business owners, the independent brands, and the rebels are winning,” says Shopify President Harley Finkelstein. “It feels like the retail world that would have existed in 2030 was pulled back to 2020. We have seen this massive catalyst to an acceleration in digitalization in commerce and retail. We are writing the future of commerce and entrepreneurs are really the heroes of the Shopify story.”

    Shopify President Harley Finkelstein says the rebels―the entrepreneurs and the small business owners―are the heroes of the Shopify story… and the rebels are winning:

    We Are Arming The Rebels

    There’s a lot to be optimistic about even in the second half of 2021. It feels like the retail world that would have existed in 2030 was pulled back to 2020. We certainly have seen this massive catalyst to an acceleration in digitalization in commerce and retail. But actually, we are writing the future of commerce and entrepreneurs are really the heroes of the Shopify story. We are arming the rebels… the entrepreneurs, the small business owners, the independent brands, and the rebels are winning.

    Consumers have been voting with their wallets for the last ten months or so to buy from independent brands wherever possible. In 2020, 47 million consumers purchased from a Shopify merchant. That’s up 52 from 2019. Our merchant’s performance helped expand Shopify’s lead on an aggregated basis to be the second-largest e-commerce retailer in the U.S. Shopify is now about nine percent of all US ecom. If you think about it, Shopify is a proxy for independent retail and for direct-to-consumer retail.

    Shop Pay Launches Accelerated Checkout

    We only succeed when our merchants do. This has led to us having more than 1.7 million merchants on Shopify. This includes people from first-time entrepreneurs making their first sale every 28 seconds to the likes of O’Neill and Hallmark and Herman Miller and Purina. Diageo, who also just launched in Shopify and in Q4 alone revenue nearly doubled year over year to $978 million. There’s a lot to be optimistic about. Actually, the future of retail and commerce we think is going to look a lot more like these independent brands than these sort of department stores that existed in the past.

    Shop Pay is our accelerated checkout. We just announced it last week. We know that it not only helps merchants get more sales, it helps buyers convert better and much faster. Now we think that providing it to the Instagram and Facebook platforms means that our merchants can not only access new customers on those platforms, and frankly anywhere where customers are, but now can transact in a more efficient way. Shopify is becoming far more than an e-commerce provider.

    Future of Retail Is Wherever Consumers Are

    We are trying to build the world’s first retail operating system, which makes it as easy as possible and where the cost of failure is as low as possible, so more people can participate in entrepreneurship. We think the future retail is not online or offline or anywhere, in particular, it’s wherever consumers are. That’s what we’re trying to build. Seeing Shop Pay move into Facebook and Instagram is a really great way to demonstrate where the future of retail is happening.

    We are trying to get to a point where we completely democratize entrepreneurship. We use a 100-year perspective and we want to build a 100-year company. We’re about 15 years into our journey right now and we have 85 years left to go. In the long run, we’re happy where Shopify is but frankly, on the topic of more participation in the equity markets, we think that is also entrepreneurial and we think that’s also democratizing.

    Shopify CEO: We Are Arming The Rebels

  • Congress Out To Kill Uber and the Entire Gig Economy Again

    Congress Out To Kill Uber and the Entire Gig Economy Again

    Congress, in a political payoff to unions, have again introduced legislation to effectively make gig economy jobs like Uber, Lyft, DoorDash, etc. illegal. The difference this time is that since they now control the House, Senate, and the Presidency it could very well pass. The legislation is modeled after the gig killing bill that was passed in California and that was later overturned via initiative by the people. Unfortunately, at the national level there is no initiative process to overturn Congress.

    Despite the job-killing nature of the bill the Democrat’s press release sings its praises:

    “Top Democrats Introduce Bill to Protect Workers’ Right to Organize and Make our Economy Work for Everyone. Legislation addresses growing income inequality by protecting workers’ right to join a union and negotiate for higher wages and better benefits.”

    The House bill was introduced by House Committee on Education and Labor Chairman Robert C. “Bobby” Scott (VA-03), Congresswoman Frederica Wilson (FL-24), Congressman Andy Levin (MI-09), Congresswoman Pramila Jayapal (WA-07), and Congressman Brendan Boyle (PA-02).

    The Senate bill was introduced by Senate Committee on Health, Education, Labor, and Pensions (HELP) Chair Patty Murray (D-WA) and Majority Leader Chuck Schumer (D-NY).

    The bill mimics the California bill which Uber CEO Dara Khosrowshahi said would effectively end Uber as we know it in California. The company is already losing money and it would be impossible for it to pay a minimum wage of $15 an hour plus benefits to all of its 1 million drivers. It also begs the question, does the Democrat party not realize that the very people who love Uber and who are independent contractors for Uber probably are also majority Democrat voters? After all, the gig economy was popularized by liberal San Francisco based Uber itself.

    Without an initiative process at the national level, the only way to keep the millions of gig jobs alive and to keep rideshare and food delivery readily available would be for their voters to vote the majority party out of office. There really is no middle ground here. In the meantime, if this bill passes Congress and is signed by Biden the gig economy will become illegal.

  • 57% of Small Businesses in US Are Now Fully Open

    57% of Small Businesses in US Are Now Fully Open

    As restrictions ease around the country, a new reports shows that 57% of all small businesses are fully open.

    Small businesses were among the hardest hit as a result of the pandemic, with many lacking the infrastructure to move online or the resources to wait out long lockdowns. As restrictions ease, however, a slight majority have resumed full operations.

    In its Small Business Recovery Report, Kabbage polled more than 550 small businesses. Of those polled 57% are now fully open.

    Interestingly, one-third of the businesses said they were now either selling exclusively online or had significantly expanded their online sales. Online sales accounted for 57% of their total revenue, up from 37% before the pandemic.

    The mass shift to sell online has changed the mindset of small businesses about adopting new technologies. Overall, 77 percent of small businesses agreed they’re more open than ever before to replace old systems and adopt new technologies to run their company more efficiently.

    Understanding the status of small businesses and their future is an important step in understanding how to move forward.

    “We knew the path to recovery would look different across businesses, but it’s clear there’s a stark difference between the largest and smallest of small businesses—which represent more than 80 percent of all companies in the U.S.,” said Rob Frohwein, Co-founder of Kabbage, an American Express Company. “As our economy recovers it’s imperative all small businesses, especially those most marginalized and vulnerable, have equitable access to financial tools, systems and stimulus programs to ensure we all rebound from this crisis together.”

  • Microsoft Blocks 300,000 Advertising Accounts In 2020

    Microsoft Blocks 300,000 Advertising Accounts In 2020

    Microsoft Advertising has released its 2020 year-in-review report, giving a glimpse of the state of online advertising.

    The company blocked some 300,000 accounts from its advertising platform, a 30% increase from 2019. Microsoft also removed 1.6 billion bad ads, as well as 270,000 sites from its system.

    Given the year that was 2020, it’s not surprising what Microsoft’s five key areas of focus were: the pandemic, political advertising, third-party government services, tech support scams and advertiser safety.

    Microsoft emphasized its approach to advertising, one that uses a combination of artificial intelligence and manual reviewers.

    Advertising fraud is fast-moving, and we continue to see new patterns surface globally. We take an all-hands-on-deck approach to ensure we continue to deliver the highest quality content possible. We constantly update and refine our policies to ensure we meet evolving needs. Our fraud detection technology makes use of a wide variety of signals and uses the latest machine-learning algorithms to find fraud patterns which can otherwise be difficult to detect. We also have a geographically distributed team of experts working round the clock to help us conduct detailed investigations on any new patterns we’re seeing, by making use of smart and scalable tools. Detecting fraud before it has a chance to reach customers is one piece of our approach.

    We also address escalations and complaints from customers to quickly remove low-quality ads. In 2020, we received a total of ~50,000 complaints related to ads not being compliant per our advertising policies. We investigated each complaint and found ~ 65% of the reported ads to be in violation of Microsoft Advertising policies. Most of the complaints were related to trademark infringements. As we continue to roll out new products and make it easier for brands to engage with audiences, we made additional investments to protect and respond to advertisers’ concerns around trademark use and were able to reduce the trademark related complaints by ~ 25% year over year. We also received a few complaints related to unlicensed gambling sites, phishing, unauthorized government service provider websites, and other user safety concerns. We have a highly responsive operations team working 24/7 to promptly address concerns relating to our ads. In response to complaints, our operations team took down nearly 400,000 violating ads from our network.

    Microsoft’s 2020 report shows the challenges the advertising industry faces, as well as provides insights into how to manage those challenges.

  • Comcast Commits $1 Billion to Help 50 Million Low-Income Families

    Comcast Commits $1 Billion to Help 50 Million Low-Income Families

    Comcast has announced it is committing $1 billion over the next 10 years, to help low-income families close the digital divide.

    The global pandemic has forever altered the modern workplace, and emphasized the importance of fast, reliable internet access. Unfortunately, for many families around the country, high-speed, broadband access is still a luxury.

    Comcast is working to address that issue, with a $1 billion investment over the next 10 years. The company’s announcement coincides with the 10-year progress report of what the company has done until now to address the issue.

    “Ten years is a remarkable milestone, signifying an extraordinary amount of work and collaboration with our incredible community partners across the country,” said Dave Watson, Chief Executive Officer, Comcast Cable. “Together, we have been able to connect millions of people to the power of the Internet at home, and to the endless opportunity, education, growth, and discovery it provides. Today, we are rededicating ourselves to this mission to ensure that the next generation of students in America has the tools, resources, and abilities they need to succeed in an increasingly digital world.”

    “For more than a decade, Comcast has been a leader in working with communities to close the Digital Divide through its Internet Essentials program,” said Marc H. Morial, President and CEO of the National Urban League. “From its beginning as a pilot program with the Wilmington Urban League to today, Comcast’s Internet Essentials program has transformed millions of lives by connecting low-income households to the power of broadband. While the ongoing COVID-19 pandemic placed a spotlight on the digital divide, for the past decade Comcast, in partnership with organizations like the National Urban League, has been leading the effort to close the digital divide, address the homework gap, and ensure low-income communities have the necessary digital skills.”

    Over the next 10 years, the company will invest a number of areas, including: ongoing support of Lift Zone, establishing WiFi safe spaces in 1,000+ community centers; laptop and computer donations; continued support of the company’s Internet Essentials program; and grants to help nonprofit community organizations create new opportunities for low-income Americans.

  • Box CEO: I’m A Pretty Annoying Founder

    Box CEO: I’m A Pretty Annoying Founder

    Box co-founder and CEO Aaron Levie recently appeared on the Jason Calacanis podcast, This Week In Startups, where he talked about being annoying and stubborn:

    I’m a pretty annoying founder. I’m very stubborn and very steadfast. Sort of this is my very strongly held opinion and belief and I’m gonna run into a wall to prove it out. That has certain characteristics that can be annoying at times I’m sure both at the investor level as well as for anybody that is working with me. I’ve been able to tone it down over the years and control it more and contain it. I think it’s not causing probably as much annoyance.

    You have to be stubborn and right is the key. Stubborn and wrong means new job. There’s a Venn diagram of stubborn and right and you want to be right in that target zone. I look back when when I was 20, 21, or 22 and learning this trade and there were plenty of times where I was stubborn and wrong where maybe I took too long to pivot.

    My co-founder was telling me we’ve got to go enterprise probably for three to six months earlier than we actually did. What are three to six months in compounding terms? I don’t know. Maybe we’d be 20 percent bigger now as a result of if I had not been so stubborn at that stage and not seeing the information in the way that he was? That can just be sometimes an annoying pattern that people run into.

    Box CEO: I’m A Pretty Annoying Founder
  • Pandemic Reinvention Is Real For SMBs, Says Bill.com CEO

    Pandemic Reinvention Is Real For SMBs, Says Bill.com CEO

    “I believe SMBs deserve innovation,” says Bill.com CEO and founder Rene Lacarte. “That innovation that we focus on is around the digital processes that are lacking in the back office of SMBs. We’ve seen it in part with the pandemic showing that there’s a need for being digital and to be able to run your business from anywhere. It’s a requirement now. The pandemic reinvention is real and something that we think is going to stick around.”

    Rene Lacarte, CEO of Bill.com, says that the pandemic reinvention is real for small and medium-sized businesses and that they need to innovate and digitize the back office:

    SMBs Deserve Innovation

    At the core of why I started the company is that I believe SMBs deserve innovation. That innovation that we focus on that I really believe is missing out there is around the digital processes that are lacking. We digitize the back office. Then we connect that back office to the banking system so money can move, to the accounting system so records can be reported, and to the accounting firms that they’re involved with.

    All of that connection creates a connective tissue that operates and automates the financial operations. Because of that it’s driving demand, it’s driving opportunity, and it’s driving growth across our existing customers as well as the new customers coming in. That’s how we do it. That’s how we bring the back office into the back pocket.

    Pandemic Reinvention Is Real For SMBs

    Nobody gets into business to actually do the back office. I grew up in small businesses. My parents had small businesses. My grandparents had small businesses. A lot of our friends had small businesses. This was always the bane of existence. This is what people had to do on Friday night. Who wants to do this on a Friday night? That’s what people are doing when they’re trying to run their business from their back pocket when they don’t have the tools. They have to do it at night at home.

    We take care of that. We automate the processes. That’s what’s driving the demand, it’s the opportunity. We’ve seen it in part with the pandemic showing that there’s a need for being digital. This opportunity to be able to run your business from anywhere is a requirement now. The pandemic reinvention is real and something that we think is going to stick around.

    Pandemic Reinvention Is Real For SMBs, Says Bill.com CEO Rene Lacarte
  • Barely a Quarter of SMBs Buy Software That Meets Their Needs

    Barely a Quarter of SMBs Buy Software That Meets Their Needs

    A new survey shows that only 27% of SMBs buy software that meets or exceeds their needs.

    Unlike many large businesses and enterprises, small and medium businesses often rely on off-the-shelf software for their daily operations. Despite that, the vast majority are making significant compromises when buying software, according to a survey by Capterra.

    In a Capterra survey of 1,000 small-business leaders who have influence on software purchase decisions, only 27% managed to secure what we call a “Great Match” on the last software purchase for their organization.

    That’s it! The rest either compromise on their original vision, or purchase software that fails to meet expectations—leading to further problems, additional software purchases, or, in the worst cases, purchase regret that forces small businesses to start over.

    Capterra recommends SMBs follow specific steps to avoid this problem, including focusing on internal goals, involving decision-influencers in the discussions, verifying information through independent sources, using free trial periods and sticking with shortlists of the best candidates.

    At a time when SMBs are already under increased pressure, Capterra’s survey highlights the challenges they face with something as important as the software they rely on.