Why You Need More Than Just Open-Source

by Kamal Brar, Vice President and General Manager of Asia Pacific at Hortonworks 

In 2016, the Open Source Drives Digital Innovation study commissioned by Red-Hat and conducted by analyst house Forrester revealed that 52% of CIOs and senior IT decision makers in the Asia-Pacific (APAC) region are already tapping open source software in areas such as cloud, mobility, big data and DevOps.

More IT decision-makers are turning to open source to drive better efficiency and digital innovation, as its flexibility enables organisations to build new customer experiences, services and products more quickly.

As more enterprises tap open source there are some misconceptions about what open-source means. Open source technology allows for incredible collaboration between people, communities and projects. Yet many inadvertently associate the words “free” and “easy” with open source which is not always true. Open source makes tech easily accessible and collaborative, which drives incredibly fast innovation. But open source is much more than easily accessible tech. Enterprise needs must be considered and that is why the business of open source tech is about more than just accessibility.

Here are five reasons why you need more than DIY (Do-It-Yourself) open source:

1. Open Source doesn’t mean it’s all designed to work together.

The open source tech community is not necessarily motivated or inspired to make an integrated set of different open source technologies (projects) work together. Each team is in charge of their own project – but making it all work together, easily, seamlessly – spending time to test and certify different sets of tech together is not their mandate. The community is responsible to their members, and to the guidelines of their community – each of which can have differing rules, different codes of conduct for each project. The community is not responsible to other communities and are not necessarily developing the necessary “glue” to make everything work together for an enterprise grade level of integrated functionality.

Success Requirement: Someone (usually a software vendor) who is a member of the communities, to compile different projects into a single implementable software package.

2. Open Source creates an unprecedented pace of innovation.

The collaboration of open source creates an unprecedented pace of innovation, but this pace is not always compatible with enterprise business. Not every business can implement new systems or upgrade existing ones, create new processes and train people to adapt at the same pace that the community is developing at. And in fact, sometimes such a pace can be detrimental to good business outcomes where some stability is required to refine and develop best practices and outcomes.

Success Requirement: Access to multiple (possibly more mature) versions of the integrated software package to give enterprises the freedom to update to newer versions at their own pace.

3. Open Source is typically focused on the bleeding edge.

Not every enterprise customer needs the leading edge, or the so-called “bleeding edge”. While the open source community continues to shift towards the next version, the newest features, the new release, it still takes time to mobilize an enterprise to adapt to the change. Enterprises may not always be on the same leading edge innovation that the open source community is on. Business critical environments may be based on more mature versions of open source tech for better business stability. Creating a balance of adapting innovative new tech with stable, more mature tech is not necessarily in alignment with the objectives of the open source community.

Success Requirement: Establish a clear new technology introduction path, usually by including an early version of the new tech as a technical preview into the integrated software package.

4. Not all needs naturally create open source communities.

Some requirements – such as enterprise security and governance  do not organically manifest themselves in open source communities. Only when there is an application, and integration across different technologies does this become an issue. For some needs to be met in open source, there needs to be a voice representing enterprise needs in a public forum, to foster innovation and collaboration of needs into either new or existing open source communities.

Success Requirement:  An enterprise voice in the open source community.

5. The open source community is not responsible for your success.

Open source means collaborative innovation that is easy to access. But easy to access doesn’t mean it’s easy to succeed. For example – almost everyone has access to a grocery store and the raw ingredients it offers. But to make a casserole, a souffle, to create duck au confit requires experience and expertise. The open source community is no more obligated to making enterprises successful with their tech, than a grocery store is obligated to make someone a great chef.  To make your project succeed enterprises need expertise; expertise than can be home-grown, hired, and/or trained. In most cases a combination of in-house staff and experts from outside who had done this many times are the best approach. Simply being able to download bits does not result in a successful business outcome.

Success requirement: Connect in house software deployment, integration and testing with outside experience, expertise, enterprise support, professional services and education.

There is much more to being successful with open source technology than just a Do-It-Yourself project of downloading and installing raw bits of technology. Hortonworks is in the business of helping enterprises harness the power of open source technology to create successful business outcomes.

 

Kamal Brar is Vice President & GM for Asia Pacific/Middle East at Hortonworks. He joined Hortonworks in 2016 to lead the expansion in one of the growing regions for the company. Kamal is an entrepreneurial leader having successfully led some of most successful disruptive technology companies in the world. His experience extends from managing large $125M+ USD businesses with broad range of high value deals, complex solution selling to leading the inception of cutting-edge technology based start-ups across the Asia Pacific region.

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5 Hidden Costs Office Tenants Should Be Aware of

by Jessica Thiefels, owner of Honest Body Fitness

If you own a small business and are looking to upgrade your workspace from the kitchen table to an actual office, it’s time to asses your budget and start looking at space. Not only is renting a large expense, but there are a wide variety of expenses that come along with a professional space, including maintenace and potential rent increases.

To avoid these additional and costly fees, it’s critical that you’re prepared to negotiate the terms of your rental agreement. Keep these five hidden costs in mind as you research spaces and read through potential contracts.

Rentable Square Feet.

This cost refers to the amount of square-footage in the entire space—including areas the tenant will not occupy such as lobbies, stairs, elevators and janitorial closets. In some cases, the landlord might even charge for columns, recessed entries and curved walls, so avoid offices with interior embellishments, which will likely increase the monthly rent.

The usable square feet accounts for the space a tenant can actually use like conference rooms, reception areas, office cubicles, bathrooms, kitchenettes and storage areas. You can compute the rentable square feet using this formula from 42Floors, a commercial real estate website:

Building Rentable Square Feet / Building Usable Square Feet = Load Factor

Tenant Usable Square x Load Factor = Rentable Square Feet.

Understanding this equation helps you compare the costs of multiple spaces quickly and easily, without getting on the phone with someone who will be pushing for the sale before you know the total financial investment.

Maintenance and Repairs.

This cost refers to the basic upkeep of structural fixtures in the building, like the roof, walls and facade, or lighting. Most landlords charge a tenant for making changes inside the office space if they interfere with these construction elements.

In addition, if a cosmetic or non-structural repair needs to be made, the landlord will rarely cover the expense. This makes it’s important to define which maintenance fees you as the tenant are responsible for in the rental agreement.

The Harvard Business Review also cautions, before you decide to alter the space, find out exactly what the landlord considers as a structural fixture—otherwise, you risk being saddled with an unexpected invoice for repairs at the end of your lease.

Operating Expenses.

This cost refers to the landlord’s financial commitment to running the property and allows them to recover some out-of-pocket expenditures. However, some landlords attempt to use this clause in the rental agreement as a means of charging the tenant for capital expenses like advertising, refinancing, landscaping, structural maintenance, mortgage or interest fees, real estate taxes and more.

Preparing a Request for Proposal (RFP) can help you get a better understanding of lease terms and operating expenses. An RFP includes both chief negotiations and terms of the lease:

“Operating expenses are another important component of the negotiation because they represent a cost center to the tenant,” explains Laurens Nicholson, principal and director for Windsor Aughtry. “The purpose of the Request for Proposal (RFP) is to expose how the landlord proposes to pass through expenses to the tenant. For example, will all building expenses be passed directly through to the tenant, or will expenses be passed through once the expenses exceed a certain dollar amount?”

Occasionally, a landlord may even charge the tenant for business-related activities conducted after-hours or on weekends. If the operating expenses cover more than just the necessities such as janitorial services, electricity, non-structural repairs, air-conditioning and security measures, negotiate terms before signing the contract, suggest experts to AllBusiness.com

Yearly Rent Increases.

This cost refers to the escalation of rent after the base year—the first 12 months of a lease. If the you continue to occupy the space once this initial period is over, the rent will increase at your own expense. If a building has been operational for more than one year, you can use the previous 12 months as a reference point to calculate how much the rent is likely to increase the following year. These records are made available to the public through The U.S. Bureau of Labor Statistics (BLS).

After obtaining this data, you can determine if this cost is both reasonable and affordable by using the Consumer Price Index (CPI), which measures the annual inflation rate of commercial properties. The current CPI can also be accessed on the BLS website, and once you have that percentage, this equation will tabulate how much is owed after the base year:

CPI + Current Rent = Rent Increase

Current Rent + Rent Increase = New Rent

Electricity and Utilities.

This cost refers to the monthly power usage in the building, which is typically divided between all the tenants of an office space. These expenses include water, heating and cooling, electricity, waste removal and internet connection. While it’s normal for utilities to be factored into the rent, there are some caveats you should discuss with the landlord.

Albert Wu, a commercial leasing advisor, suggests negotiating as close to the electric company’s low bulk rate as possible. This ensures that you won’t be charged a higher premium than what the utilities actually cost. He also warns that some landlords impose extra surcharges on utilities, so it’s recommended to conduct a price comparison with other buildings in the area.

To Move, Or Not to Move.

If your business is at a point of expansion and an office is needed to facilitate growth, accommodate employees, and serve the client base, consider these hidden costs as you search for the most affordable space to meet your professional needs. When you do the math yourself and go into negotiations knowing about potential hidden fees, you’ll get the space you need while staying on budget.

 

Jessica Thiefels, owner of Honest Body Fitness, has been writing and editing for more than 10 years and spent the last six years in marketing. She recently stepped down from a senior marketing position to focus on growing her own startup and consulting for small businesses. She’s worked for businesses both big and small, including a 12-person education startup and well-known organizations like Business.com and Active.com. 

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Do You Have The Data Agility Your Business Needs?

by Mike Tuchen, CEO of Talend

Data is the new battleground. For companies, the situation is clear – their future depends on how quickly and efficiently they can turn data into accurate insights. This challenge has put immense pressure on CIOs to not only manage ever-growing data volumes, sources, and types, but to also support more and more data users as well as new and increasingly complex use cases.

Fortunately, CIOs can look for support in their plight from unprecedented levels of technological innovation. New cloud platforms, new databases like Apache Hadoop, and real-time data processing are just some of the modern data capabilities at their disposal. However, innovation is occurring so quickly and changes are so profound that it is impossible for most companies to keep pace, let alone leverage those factors for a competitive advantage.

It’s clear that data infrastructures today can’t be static if they are to keep pace with the data requirements of the business.  Today’s competitive environment requires adaptive and scalable infrastructures able to solve today’s challenges and address tomorrow’s needs; after all, the speed with which you process and analyze data may be the difference between winning and losing the next customer. This is significantly more important today than 10 or 15 years ago since companies used to make a strategic database choice once and keep running it for a decade or two.  Now we see companies updating their data platform choices far more frequently to keep up.

If companies are to thrive in a data-driven economy, they can’t afford to be handcuffed to ‘old’ technologies; they need the flexibility and agility to move at a moment’s notice to the latest market innovations. However, it’s not enough for companies to simply be technology agnostic; they also need to be in a position to re-use data projects, transformations, and routines as they move between platforms and technologies.

How can your company meet the agility imperative? To start, let’s consider the cloud question.

Many Clouds and Constituencies.

In a data-driven enterprise, the needs of everyone – from developers and data analysts to non-technical business users – must be considered when selecting IaaS solutions. For example, application developers who use tools such as Microsoft Visual Studio and .NET will likely have a preference for the integration efficiencies of Microsoft Azure.

Data scientists may want to leverage the Google Cloud Platform for the advanced machine learning capability it supports, while other team members may have a preference for the breadth of the AWS offering.  In a decentralized world where it’s easy to spin up solutions in the cloud, different groups will often make independent decisions that make sense for them. The IT team is then saddled with the task of managing problems in the multi-cloud world they inherited – problems that often grow larger than the initial teams expected.

One way to meet a variety of stakeholders’ needs and embrace the latest technology is to plan a multi-cloud environment by design, creating a modern data architecture that is capable of serving the broadest possible range of users. This approach can safeguard you from vendor lock-in, and far more importantly, ensure you won’t get locked out of leveraging the unique strengths and future innovations of each cloud provider as they continue to evolve at a breakneck pace in the years to come.

Integration Approaches for Data Agility.

Once perhaps considered a tactical tool, today the right integration solution is an essential and strategic component of a modern data architecture, helping to streamline and maximize data use throughout the business. Your data integration software choice should not only support data processing “anywhere” (on multi-cloud, on-premise, and hybrid deployments) but also enable you to embrace the latest technology innovations, and the growing range of data use cases and users you need to serve.

Hand Coding.

I said “data integration software” as I simply don’t believe that a modern data architecture can be supported by hand-coded integration alone. While custom code may make sense for targeted, simple projects that don’t require a lot of maintenance, it’s not sustainable for an entire modern data architecture strategy.

Hand coding is simply too time-consuming and expensive, requiring high-paid specialists and high ongoing maintenance costs. Moreover, hand-coded projects are tied to the specific platform they were coded to, and often even a particular version of that platform, which then locks the solution to that vendor and technology snapshot.  In a continually accelerating technology environment, that’s a disastrous strategic choice.  Also, hand coding requires developers to make every change, which limits the organization’s ability to solve the varied and evolving needs of a widely distributed group of data consumers.  And finally, it can’t leverage metadata to address security, compliance, and re-use.

Traditional ETL Tools.

Traditional ETL tools are an improvement over hand-coding, giving you the ability to be platform agnostic, use lower skilled resources and reduce maintenance costs. However, the major drawback with traditional ETL tools is that they require proprietary runtime engines that limit users to the performance, scale, and feature set the engines were initially designed to address.

Almost invariably they can’t process real-time streaming data, and they can’t leverage the full native processing power and scale of next-generation data platforms, which have enormous amounts of industry-wide investment continually improving their capabilities. After all, it’s not simply about having the flexibility to connect to a range of platforms and technologies – the key is to leverage the best each has to offer. Moreover, proprietary run-time technologies typically require software to be deployed on every node, which dramatically increases deployment and ongoing management complexity.

Importantly, this proprietary software requirement also makes it impossible to take advantage of the spin up and spin down abilities of the cloud, which is critical to realizing the cloud’s potential elasticity, agility and cost savings benefits. Traditional ETL tools simply can’t keep up with the pace of business or market innovation and therefore prevent, rather than enable digital business success.

Agile Data Fabric.

What’s required for the digital era is scalable integration software built for modern data environments, users, styles, and workflow – from batch and bulk to IoT data streams and real-time capabilities – in other words, an agile Data Fabric.

The software should be able to integrate data from the cloud and execute both in the cloud and on-premises.  To serve the increasing business need for greater data agility and adaptability, integration software should be optimized to work natively on all platforms and offer a unified and cohesive set of integration capabilities (i.e. data and application integration, metadata management, governance and data quality). This will allow organizations to remain platform agnostic, yet be in a position to take full advantage of each platforms’ native capabilities (cloud or otherwise) and data technology. All the work executed for one technology should be easily transferable to the next, providing the organization with economies of skills and scale.

The other critical capability you should look for in an Agile Data Fabric is self-service data management. Moving from a top-down, centrally controlled data management model to one that is fully distributed is the only way to accelerate and scale organization-wide trustworthy insight. If data is to inform decisions for your entire organization, then IT, data analysts and line of business users all have to be active, tightly coordinated participants in data integration, preparation, analytics, and stewardship. Of course, the move to self-service can result in chaos if not accompanied by appropriate controls, so these capabilities need to be tightly coupled with data governance functions that provide controls for empowering decision makers without putting data at risk and undermining compliance.

The challenge CIOs face today is acute – with rapidly advancing platforms and technology, and more sources to connect and users to support than ever before. Meeting these new and ever-evolving data demands requires that companies create a data infrastructure that is agile enough to keep pace with the market and the needs of the organization.

 

Mike Tuchen joined Talend as Chief Executive Officer in 2013. Prior to joining Talend, he served as the CEO of Rapid7 and led the company through a dramatic expansion of its marketing, sales, partnerships and product line. A former Microsoft executive and seasoned marketing and product strategist, he also served as the General Manager of Microsoft’s SQL Server Marketing team.

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Beginner’s Guide To Set Up A Free Website On WordPress

by Vairo Kremanis 

WordPress.com is one of the most popular platforms for hosting websites and blogs. WordPress provides a user-friendly interface that makes it easy to set up and maintain your site, while also offering a wide range of customizable options to make your content more attractive.

If you are new to WordPress, follow these simple steps to set up your free website:

Create an Account.

To set up a website or blog on WordPress, you first need to create an account. Be sure to register your account through WordPress.com, rather than WordPress.org, as the second option requires more advanced skills and separate hosting. The registration process is simple and enables you to choose from a range of packages, some of which offer additional features for a subscription fee.

The basic package is free of charge and is suitable for most websites and blogs, particularly in the early stages of development. You can always upgrade to a paid package later.

Choose an Address.

WordPress will prompt you to choose a URL (uniform resource locator), or website address, for your primary site. You can choose a free subdomain of WordPress as your address (e.g. sitename.wordpress.com), or you can pay a fee for a custom address and domain mapping.

You can create multiple websites with WordPress, but you will need to select one as your primary site, as this will be linked to your profile and any comments you make on other websites and blogs.

Pick a Theme.

WordPress offers a wide range of free and paid themes. Each theme uses a different design and comes with its own set of features. Choose a colour scheme, layout and style that complements the topic of your website or blog. Some themes are designed specifically for certain purposes, such as displaying photography, promoting businesses or hosting a professional portfolio.

Tweak the Settings.

Most themes enable you to customize the settings, such as the header image, page layout and location of the sidebars. Get to know your chosen theme and experiment with the settings to find the right options for your site. Most themes allow you to add widgets to the sidebars or footers.

Widgets range from visible site statistics to newsletter sign-up forms. You can also use your WordPress Dashboard to tweak other settings, such as the visibility of your site.

Personalize Your Site.

Once you have the basic structure for your site, you need to add a title and tagline to let visitors know what your website or blog is about. The title should be clear and memorable, ideally between one and five words. The tagline can expand on the title, adding extra information or clarifying the purpose of your website.

You can also add a logo or other graphic to make your site more visually appealing and help build familiarity with visitors, which is particularly important if you intend to build a recognizable brand.

Set Your Homepage.

Initially, the front page of your website will show the latest posts added to your site, as this is the default view for blogs. However, if you are setting up a regular website, you may prefer to use a static page as your homepage. You can create a page that introduces your website to visitors, promotes your services or provides links to other pages on your site. Once you’ve created your homepage, remember to set it as the default page in your WordPress settings.

Add Extra Pages.

Most websites add an About page to tell visitors a little about the site and its purpose. You can also use your About page to add any legal notices or other relevant information you need to display. In addition, it’s important to provide a page with your contact information, such as your email address, telephone number or postal address. If you prefer not to give out your contact information, WordPress allows you to provide a simple contact form that enables visitors to contact you directly through the website.

Post Some Content.

Whether you choose to use dynamic posts, static pages or a combination of the two, you will want to post some content to pad out your website and give it some personality. You can use categories and tags to organize your content and link it to other posts and pages on your site. Tag clouds, category lists and customized menus can be added as widgets to help visitors navigate your site and find the content they are looking for.

Provide Social Links.

Link your website to your social media profiles and other online activities. Provide links to your social media pages on your website, either by adding a Social Links widget or including links on your About page.

You can also add your URL, or website address, to the profiles of your social media accounts, such as Facebook, Twitter, LinkedIn and Pinterest. In addition, you can enable sharing on social media by adding links at the bottom of each post.

Promote Your Website.

Once your website is up and running, it’s time to promote it and bring in some visitors. Search engine traffic can take a long time to build up, so it’s a good idea to try a few other options.

Social media is one of the best tools for promoting a new website, particularly if you already have an active social media profile and a substantial following. Paid advertisements can be effective for generating website traffic, but you will need to decide whether it’s worth the cost.

WordPress.com provides a user-friendly platform for creating websites and blogs. Setting up a free website is a simple process that most people can complete within an hour or two. If you are new to WordPress, following the steps above will provide the foundation for your website or blog.

 

Vairo Kremanis is an online entrepreneur and founder of WPWarfare and GoOkayed.com.

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Smart Ways To Fund Your Startup

So, you think you have a great idea for a company. You have put together a nice little business plan, you have thought through the conversation you will have with your boss when you tell him that you are quitting to pursue your dream, and you have even identified some potential clients for what you want to sell. Next comes the big question. Where will you get the money to start your business? This age-old questions has stopped many a budding entrepreneur in their tracks and needs to be addressed smartly and decisively if you want to set up your new venture.

Here are some ideas for locating funding:

Take out a traditional loan.

Depending on your credit scores, the collateral you have and your assets, you may be able to borrow money to get your business started. Lenders look for these things and if you have them in abundance they will be open to discussing what you are planning and how you can be sure to get them their money back. If you own your own home for example, lenders will take this on as collateral and give you cash to get going, but if your plans don’t come to fruition within the timeline you lay out for the lender, and you cannot pay back the loan, he will be in a position to take possession of your home. You can do a similar scenario with your car or boat or any other asset you own. The process is complex and there is no guarantee that you will be approved and for what about, so be prepared for a fairly long road to this destination. In the end, these types of loans are a viable option but you need to be sure about your business plan.

Get a payday loan.

Since you have a job now, you might consider a payday loan. These loans can be received in a few hours providing you have a good job that pays well, and a bank account. These speed with which you can acquire these loans is wonderful, but they have high interest rates and should only be considered for short term borrowing. The money is automatically deducted from your wages, so you will have to plan for not having that money when you receive your next pay. Perhaps the best way to remember the important part of this loan is by remembering the phrase payday uk. This type of funding could be great if you are ready to start, and have a client willing to hire you immediately. You can get started and by the time you need the money from your wages, you can replace it with the revenue you receive in the new business from your client. The key to this strategy is timing and you have to be sure you can pay it back on time.

Borrowing from friends and family.

Perhaps the most common type of funding most small startups go after, is to borrow the money from a relative or a friend. If you have someone close to you who is willing to take a chance on your idea, this might be a great choice. You do not have to put any collateral (usually), and if things do not go specifically to plan, the odds are they will give you more time to get things going without any penalties. The downside of this strategy is that if things do not work out you may lose a friend or send up with a relative that never speaks to you ad family reunions.

Whatever routs you choose, make sure that you plan things about carefully and have a back-up plan position if one things does not go as planned. Good luck!

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How Facebook Advertising Can Help You Rake In The Cash

 If you’re starting a new online business, there is one huge mistake that will sink your business before you even have a chance to succeed. And you’re probably making it.

Online marketing guru Alex Jeffreys works with hundreds of coaches, consultants, and service providers each year. In those hundreds of conversations, he noticed one common fear holding all of them back.

“They’re scared to spend money on advertising because they think they’re going to lose money,” Jeffreys said.

But what they don’t understand, he said, is just how cost-effective and easy it is to grow your business with Facebook advertising. In this exclusive interview, Jeffreys shares his secrets on how to overcome your fears and make paid advertising work for you.

When most people start their business, it isn’t structured correctly, Jeffreys said. Aspiring coaches will often use Facebook Live to promote their new business, but nobody understands what they’re trying to sell. New entrepreneurs don’t have an attractive offer, and they’re underselling themselves and charging by the hour, he said.

The key is to have an irresistible offer that people are willing to pay top-dollar for, Jeffreys said.

Most people get stuck on how long their programs should be, he said. They’re wasting time worrying about whether their coaching program should be 10 sessions or last six months. Instead, they should be figuring out how their program will change clients’ lives.

“The market doesn’t care about the length of time,” Jeffreys said. “They only care about the outcome. What kind of results are they going to get after working with you?”

After you create your offer, it’s time to set up the “TeleFunnel.” Jeffreys developed this proprietary strategy for closing sales, and he teaches it to all of the students in his coaching program. The TeleFunnel is an automated system that will turn interest in your offer into phone calls — and new clients.

“When you have a high-ticket offer and a TeleFunnel, the world is your oyster,” he said.

When you have these pieces in place, it’s key to start advertising before you need to. There will be plenty of easy opportunities, or low-hanging fruit, to make money in the beginning, but eventually the well will dry up. The challenge is to make the business sustainable, Jeffreys said.

Advertising will make your business sustainable and help you scale, he said. Instead of thinking of advertising costs as money spent, he recommends changing your mindset to focus on the money your advertisements are helping you generate.

“I have an agreement with Facebook,” he said. “Here’s my credit card, it’s unlimited. Please take as much money out of my account as you can every single day. That’s my deal.”

Why this deal? Because it works. Jeffreys said Facebook advertising has cut his sales cycle down to about four days. He is seeing a large return on investment, so he is able to invest those profits into growing his business.

Jeffreys sums up his approach in one simple phrase: “Start small, think big, scale fast.”

Jeffreys recommends you start spending $10 per day on Facebook advertisements, with the goal of spending thousands. Spending thousands of dollars a day seems terrifying at first, but you will gather valuable insights as you increase your ad spend.

As time passes, Facebook collects data that will make your advertisements more effective. The platform will use the data it collects about your clients to find others who have similar attributes. Because these people are like your current clients, they’re much more likely to become new clients.

“Everybody’s going to be scared at some point,” Jeffreys said. “There’s going to be resistance. There is uncertainty, and I would work with people who can instill confidence into you, and start small, think big, and scale fast.”

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Creating A Business Pitch That Gets You Funded

For new businesses, devising an effective business pitch is harder than it sounds. Most entrepreneurs aren’t public speakers, or salesmen. They are courageous inventors and businesspersons, many of whom are not accustomed to that combination of charisma and content that results in investor dollars.

Despite the fact that the average entrepreneur doesn’t even like making such pitches, this is the only way to get the money you need to start your business, or to take it to the next level. And while you’ll have to find your own answer to the question of showmanship, here are some ways you can write a better business pitch, by getting into the head of the investor you are trying to impress.

Quickly Start Solving Problems.

If you sit down and think about it, you’ll realize that businesses come into the world to solve problems. Ideally, they relieve pain: the pain of inconvenience, the pain of waiting, the pain of enduring inefficient processes. Without getting too Buddhist on you, life has pain for everybody, including the investors sitting across the table from you. It’s your job to tap into their pain, and show how your business proposal would solve the problem and relieve that pain, for the investor and for everyone else on earth. That may sound dramatic, but it’s the best way to communicate the urgency necessary to convince someone to give you funding.

Don’t Exaggerate.

Just because you want to sell yourself, don’t start adding half-truths and exaggerations to your proposal. Also, stay away from common platitudes (“We’re going to make the world a better place”, “this is an truly unique opportunity you don’t want to pass up”). These are really just filler and will make you sound more like an infomercial shill than someone who actually needs money to create something great.

Explain How You’ll Make Money.

That might sound completely obvious, but you’d be surprised how many businesses step out into an investor’s office without a coherent go-to-market strategy. If you can’t explain what your thing is, how it works, how you’ll continue to improve and develop it, and how you’re going to sell it to a real customer base, you’re not going to catch the attention of the average investor. If you have a truly good idea, with evidence that work is underway to make it happen, then it will be easy to explain how the business will actually function in the real world, over the long term.

Don’t shoot from the hip when you go into your business pitch, but don’t sound like a robot either. It’s important to find the happy medium between memorization and improvisation. When you finally find that balance, you’ll be able to communicate your idea effectively, in the most natural manner possible. Follow these other techniques and you’ll develop a business pitch par excellence, one which will likely yield you all the funding you need and more. We hope that your pitch pans out and gives you a long financial runway to bring your business into the real world.

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Wonder Woman Film Inspires Kindergarteners, Entrepreneurs And Hollywood Actresses

by Nancy D. O’Reilly, PsyD, author of “Leading Women: 20 Influential Women Share Their Secrets to Leadership, Business, and Life“

Humans are meaning-making creatures. We love to tell stories, and they shape how we see ourselves and our world.

“Anytime we see women in powerful roles on-screen it challenges narrowly defined and antiquated views of leadership,” said Stacy L. Smith, communications professor at the University of Southern California. Smith is quoted in the New York Times about the impact “Wonder Woman” might have on young girls. “Whether women are serving as C.E.O.s or, in the case of Wonder Woman, striding across ‘No Man’s Land’ and taking enemy fire, it broadens our notions of who a leader can be and the traits they exemplify.”

Stories from Kindergarten.

Small children readily imagine themselves heroes, and a woman who works at a kindergarten posted comments from five- and six-year-olds the first week after the film’s release. Their stories were filled with power and possibility. One group asked to wear superhero costumes when they sang their song about bunnies. When a girl asked if she could ditch her school uniform for Wonder Woman armor because she “wanted to be ready if she needed to save the world,” her classmates took the new look in stride. Seven girls playing together during recess decided that since they all wanted to be Wonder Woman, they should all be Amazons and not fight but instead work together to defeat evil. Another little girl said, “When I grow up I want to speak hundreds of languages like Diana.”

The teacher who posted these comments closed with this comment: “Consider this your friendly reminder that if this movie completely changed the way these girls and boys thought about themselves and the world in a week, imagine what the next generation will achieve if we give them more movies like Wonder Woman.”

Adults are slower than children to suspend disbelief and after researching and writing a book on Wonder Woman’s complicated origins, author Jill Lepore remained puzzled about the character’s appeal. One day, however, an eight-year-old visiting from foster care “found this box of postcards … covers of original DC Comics from the 1940s. She started picking through them, pulled out all the Wonder Womans, and she lined them up in a row and she just looked at them. Then she looked at me and she said, ‘She is so strong.’ It just knocked me out. This is why Wonder Woman touches people.”

Stories Inspire Entrepreneurs.

Two male writers told stories showing how Diana’s many strengths offer lessons for entrepreneurs. The way John Rampton tells the story, the years the Wonder Woman franchise spent pivoting and rebranding would be familiar to most business owners navigating a changing marketplace. His version of the story highlights Diana’s truth, peace, equality, empathy, fearlessness, and the power of mentoring. Diana is no loner, but instead shares the glory. When Steve Trevor says she saved the day her response is, “No, we did this.” The story told by another journalist, John Boitnott, highlights Diana’s ability to inspire others with her courage and compassion, those precious attributes women display in abundance.

Stories from Women in Hollywood’s film Industry.

How did women in Hollywood working on the film tell the story? They – like other diverse groups – are still struggling for representation and equal opportunity in the movie industry. The women who played the fierce warrior gods in the opening scenes of the film said working with a female director and a majority female cast made all the difference. “Everyone just walked with more power,” said Brooke Ence. “They walked with this Amazonian vibe.” “Many of the other Amazons are also mothers,” said Doutzen Kroes. “So we were all able to have our families with us during filming … it was simply incredible.” “I have never been around that many strong women at one time,” said Ann Wolfe. “It felt like we were real, true Amazons.”

Some reviewers, not big action hero fans, asked instead for more movies like “Hidden Figures,” an inspiring story based on actual human women. Agreed! But as psychology professor Christopher Ferguson points out, “’Wonder Woman’ and ‘Hidden Figures’ are not in conflict, but both move toward greater egalitarianism in film, albeit in different ways.” He goes on to caution, “All advocacy efforts, no matter how deserving, can run the risk of developing rigid, jargon-filled, political views that make the perfect the enemy of the good.”

In todays’ Women Helping Women Movement, let’s make room for every woman’s imperfect experience, even a retro comic book super hero. This is how we will pave the way for tomorrow’s real sheroes to step into their full and rightful share of leadership.

 

Nancy D. O’Reilly, PsyD, is an author of “Leading Women: 20 Influential Women Share Their Secrets to Leadership, Business, and Life” and urges women to connect to help each other create a better world. She is a clinical psychologist, motivational speaker, and women-empowerment expert who devotes her energies to helping women achieve the lives they want. O’Reilly is the founder of Women Connect4Good, Inc., and for seven years she has interviewed inspiring women for online podcasts available on her website.

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5 Tech Start Up Execs Share Their Secret To Success

We’re currently living in the age of the startup. Some are more successful than others, but the advice of some of the leaders at the top can always help new and aspiring entrepreneurs to figure out their next steps. Learning from someone who has already been there and worked through the challenges can be extremely beneficial.

Some startups rise to the top immediately and others fold, but learning from the first set could help you avoid some catastrophic mistakes.

Don’t Get Derailed by Mistakes, by Learn from Them.

Alex Pina of Comfortup says that there are many things to keep an eye on as an executive of a busy startup, but remarks, “Don’t dwell on mistakes, but do all you can to never make the same mistakes twice. One mistake won’t kill you-the same mistake, twice, might.”

Never Stop Learning or Asking for Help.

Seattle inventor and entrepreneur Mark Grabham says that you can’t rely only on your own expertise to make things happen or to scale quickly. He says, “You have to get help from other people. Go online, listen to podcasts.  There are hundreds of podcasts about entrepreneurship.”

You’re going to make mistakes- that’s a given. It’s how you interpret them and move on from them that matters.

Location, Location, Location.

It’s no surprise that there are plenty of startups in Silicon Valley each year. There’s a large pool of talent to pull from.

“What results is a steady stream of well-trained engineers, business people, marketers, researchers; a vibrant venture capital community; a highly available stock market appetite for stock flotations; and people with experience in business, including how and why business failures happen,” says Vint Cerf of Google.

With online business, location can refer to how you choose to market yourself- through Google Ads, Facebook ads, and similar options. Location really matters because you have to know where your ideal customer is spending time and how you can reach them directly where they are at.

Get Help From Your Users.

If you want to know exactly what your target market is looking for and how to serve them, evaluate any opportunity to learn from and work with them one-on-one. Since consumers are bombarded with messages often, you need a message designed specifically for your ideal audience. You have to stand out from the crowd and it’s hard to do that unless you know their pain points and what they need. Hootsuite CEO Ryan Holmes says not to lose any chances to work with your customers.

Ask them in surveys and keep track of the kinds of comments flowing in through customer service. If people are asking the same questions or canceling for similar reasons, that’s an opportunity for growth. Aside from addressing those concerns directly to help that frustrated customer, go one step further to see how you can incorporate a new strategy into your business.

Research Before You Start.

It’s not enough just to have a good idea. You’ve got to research the market to see where people are successful and the potential gaps. Just having one unique idea doesn’t mean the same thing as that idea being easily sold or scaled. That’s why Fubu founder Daymond John says, “Learn as much as you can about your industry immediately. Become an expert in that industry. Obviously, there are plenty of resources out there between your library and the Internet, but also try to find a mentor who directly answers your questions. Any information is always good information.”

Running a startup is an exhilarating experience and one that’s filled with hard work. That’s why you need to care about how you approach the process and how you can deploy lessons learned from others to accomplish even more with your company. Taking a long-range look from the outset may serve you for years to come. Make sure you think about where your business can stand out from others and what you hope to accomplish by starting and growing your company. Knowing your customer, doing your research, and learning from your mistakes can all help you achieve great success in the business world regardless of the kind of company you start.

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Life Insurance Isn’t Always About Death; It’s Also A Retirement Tool

by Gary Marriage Jr., founder and CEO of Nature Coast Financial Advisors

Many Americans view life insurance policies as a key part of their financial planning. But they tend to think in terms of how the insurance will benefit their survivors after they are in the grave – not how it might benefit themselves while they are very much alive.

If that’s the way they see it, though, they may be missing out on an additional way to help pay for retirement – something especially worth knowing if other investments go awry or a pension is non-existent.

I think a lot of people are surprised to learn that their life insurance policy can help them handle expenses during retirement. They consider life insurance a death benefit. But it can be a lot more than that.
How so?

Essentially like this: Over the years, a person pays premiums into a permanent life insurance policy with the intent to provide a death benefit as well as cash-value accumulation for as long as the policy remains in force.

If they reach retirement, and aren’t as concerned with the death benefit, they can withdraw from the insurance policy without paying taxes. Usually, you can withdraw up to the amount that you paid in premiums over the years.

Some other advantages include:

Contribution limits don’t apply.

The government puts a limit on how much money you’re allowed to contribute each year to an IRA. So your IRA is going to grow, but not to the degree that you would like. If you structure a life insurance policy so that it’s part of your retirement plan you don’t face those same dollar-amount limits.

The cash value of the policy grows each year with interest, tax deferred.

Investing in or purchasing a tax-deferred vehicle means your money can compound interest for years, free from income taxes, potentially allowing it to grow at a faster rate. And if you’re worried about the stability of the insurance company, the fact is insurance companies are some of the strongest financial institutions in the world.

Tax exemption.

When you leave your children the money you’ve accumulated in an IRA, they have to pay taxes on it. But the beneficiaries of a life insurance policy don’t have to pay taxes.

No withdrawal penalty.

The federal government will penalize you if you withdraw money from an IRA or a 401(k) before you turn 59½. But if you need some of that life insurance money at an earlier age, you can withdraw without paying a penalty.  That’s a big advantage for those who suddenly find themselves in need of cash, but don’t want even more of their retirement savings to disappear into Uncle Sam’s coffers.

It’s really important for people to take advantage of all the options they can when it comes to retirement. I think many people underestimate how much money they’ll need, often because they don’t take into account all the factors like taxes and inflation. Maybe you’d never have to tap into that life insurance policy and it can all go to your beneficiaries. But it would be nice to have it there in case the need arises.

 

Gary Marriage Jr. is the founder and CEO of Nature Coast Financial Advisors, which educates retirees on how to protect their assets, increase their income and reduce their taxes. Marriage is a national speaker, delivering solutions for pre-retirees, business owners and seniors on the areas affecting their retirement and estates. He is an approved member of the National Ethics Bureau, and has been featured in “America’s Top Hometown Financial Advisors 2011” and was selected to contribute to a book with Steve Forbes titled “Successonomics”.

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Tips For SaaS Businesses To Up Their Game By Leveraging Web Push Notifications

by Pravya Pravin,  product marketer at iZooto

In 2017, with 5X times faster growth than traditional software market, SaaS finds itself outrunning traditional software product delivery.

Cloud software model will account for 1 dollar for every $4.59 spent on traditional software by 2019. A mammoth decline in traditional software can be seen in the coming future.

Microsoft alone sees an annual growth of 70%. IDC research shows that the SaaS market will surpass $112.8 billion by 2019. The Transparency Market Research claims that in 2022, overall SaaS market will reach $164.29.

SaaS businesses have been booming and see a bright future ahead of them. It is so bright that growing is not just enough; being better than the competition is what really counts.

SaaS marketing is unlike other marketing. You are selling a software, which is constantly changing and evolving, to a specific audience, the B2B companies. The product might not even make sense to a consumer. Hence, it is critical to market it the right way. Direct marketing doesn’t work out often, so, to make the brand visible, you need other marketing efforts.

• 86% of Saas business consider customer acquisition as their highest growth priority.
• Retaining customers is 9X cheaper than acquiring new users
• If a software company grows at 20% each year, there is a 92% chance of disappearing in a few years

Lead generation is one huge problem that the SaaS businesses face due to all the marketing hurdles surrounding it; from creating a brand image to making people understand what you are all about.

Most of the SaaS businesses fail to realise that it is important to engage and re-target the existing customers more than they spend money trying to build their subscriber base. For all you know you might be so caught up in bringing in new customers that you might loose the ones that already existed.

To build a loyal customer base, you should strive to nurture your current clients. The challenges that SaaS business face is that they find it difficult to engage users and re-target them encouraging a revisit to the website.

Website Push Notifications.

Web Push Notifications are a great tool for engaging and re-targeting. These are crisp updates sent in real time. They support multi channel, making it easier to reach the audience at the right time no matter what channel they are currently using. Amazing customization features makes them spam free and gives one relevant information each time, according to the client’s interest. Local time notification feature, for instance, triggers the user at appropriate timings, increasing the chances of the users visiting your site

Web Push Notifications are interactive messages that work seamlessly across Desktop (All OS) and Mobile (Android only). Supported by all the leading browsers including Chrome, Firefox and Safari, the adoption of web push technology has been rapid.

How the Power of Web Push Can Be Utilized.

Re-targeting.

Once users start using your software, you need to give them reasons to revisit your site. Give them amazing offers that they won’t be able to refuse. You could remind them that their trial is about to be over. Users often don’t keep track and such a reminder increases the chances of bringing the ball to your court. A special offer can double the chances for users clicking on the pay button. Notifications like ‘Your trial is about to expire. Upgrade to the Professional Plan today to get 10% OFF!’ can be sent to bring users back to your site and encourage them to upgrade.

Content Marketing.

As it is difficult to pool in users by directly selling the product, blogs play an important part to generate interest, inform, and showcase use cases and case studies. White papers and articles boost your brand image as a trustworthy software. You can send notifications like ‘HDFC got more than 10X CTR! Leveraging web push gave HDFC amazing results. Check out the case study!’

Product Updates.

Softwares keep upgrading with technological innovations. The users need to know when you release new products feature or if you have tweaked and updated your product. This keeps them in the loop and avoids confusion, giving them a seamless experience. This is something the user would want to know and voluntarily visit your site. Notifications like ‘Scheduling has never been so easy! Now schedule all your social messages in one click’ can update the users about what is new and make them want to explore the new feature.

Customer Feedback.

No feedback is bad feedback. It shows what you are doing right and where you went wrong. Customers feel appreciated when you ask for a feedback from them. Feedback can be as easy as a click or you can direct them to a detailed form on your site. Notifications like this can be sent – ‘We need your advice! Is there something that we can do better? Fill the feedback form to let us know.’

Events And Announcements.

Web push is apt for shout outs. You can inform the user according to their timezone and encourage them to visit your site to sign up or make a transaction. Offers on anniversaries or special events can attract the users to take the desired action. You can also inform the users about an upcoming webinar or a podcast by sending a notification like this – ‘ Webinar on the art of engaging mobile app users. Does your app have what it takes? Book your slot now to know how to engage better!’

Conclusion.

These templates show how web push can be used to get outstanding results. Web push notifications have made it easier to not only engage users, but also to generate leads. It helps you personalize your communication by segmenting users and sending relevant updates. Website push also makes it possible to send out notifications to users who perform a particular action on your website to trigger a response. Check out some more features of web push notifications.  

 

Pravya Pravin is a product marketer at iZooto. She strives to educate the world about Web Push Notifications and Progressive Web Apps. She has written numerous articles on various websites including mention.com and getflywheel. You can find some of her articles on the iZooto blog.

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How To Maximize A Real Estate Investment

Every real estate investor wants to minimize their overheads whilst maximizing the price of their property. While this might seem like an uphill challenge, it can be easier than you think.

Check out our top tips on how to reduce real estate overheads and boost your property’s value:

An Investment-Grade, Long-Term Net Lease.

An investor should seriously consider investment-grade, net-leased real estate. It provides you with ownership of a commercial property, which is leased to a corporation, who will provide a long-term, stable cashflow to a landlord.

Not only that, but a tenant will also be financially responsible for the property’s operations, repairs, maintenances, taxes and improvements. Once the lease expires, you will own the property again and can lease it to another tenant.

A Holding Real Estate Investment.

Don’t make the rookie mistake of investing in real estate in your own name. The best way to protect your assets is with a holding real estate investment, such as a limited liability company or limited partnership. Whatever real estate investment option you choose, this will ensure you will are not personally liable should someone fall or slip, or if the investment fails.

Upgrade the Property.

When the time comes to sell a property, you could earn more by liquidating the building. Aim to add more value by upgrading both its functionality and appearance. For instance, you could install energy efficient appliances, remodel the bathroom, add insulation and update the windows. Little home improvements will make a big difference to a property’s market value.

Consider an Equity Loan.

A property’s equity commonly increases as an owner pays down a mortgage. While equity is often determined when you sell a property, many investors often take an equity loan for favorable loan terms and interest rates.

Find a Real Estate Deal.

The most effective way to maximize a real estate investment is by finding a value-priced property. It takes an experienced real estate professional to identify a great deal, as they will spend their time searching real estate listings, visiting properties and learning about the market. Do your homework and take advantage of a real estate opportunity when it arises.

Pay a Large Deposit.

A large down payment will allow you to enjoy a smaller mortgage fee each month, which is ideal if a tenant leaves and the property is left empty until you find a replacement. What’s more, you can also make overpayments on the property to be mortgage-free at a faster rate, but can enjoy a monthly fee that complements your finances.

Conclusion.

There are many ways to save a considerable amount of money when investing in commercial, residential or industrial real estate. Never rush into buying a property and consider every option before you decide. A little research can help you enjoy a fantastic return on investment whilst limiting your overheads.

Do you have any real estate tips to share? Feel free to write your advice in the comment section below. We’d love to hear from you.

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How Women In Leadership Roles Can Change The Workplace

by Andi Simon, author of “On the Brink: A Fresh Lens to Take Your Business to New Heights“

As women have taken on greater leadership roles in the business world, it’s paid off for both them and business.

A study by the Peterson Institute for International Economics found that firms with women in the C-suite were more profitable. Meanwhile, the number of women-owned businesses grew 45 percent from 2007 to 2016 compared to just a 9 percent growth in the number of businesses overall.

But will all those women in leadership roles change the workplace culture to make it more female friendly – and does it matter?

As a corporate anthropologist, I’m aware of the recent shift in thinking surrounding how cultures should be restructured in order for women to thrive in the workplace. This has caused me to ask: What type of culture do women really want and is it that different from what men want, too?

The results of my research were surprising. It turns out, in many ways men and women want similar things in the workplace. Both prefer a strong clan culture that emphasizes collaboration, teamwork and a focus on people.

So what lessons does that hold for women who start their own businesses or are hired or promoted into leadership positions in existing businesses?

Based on my personal experiences, and what I’ve learned from female business leaders I’ve interviewed, some of the ways women can succeed when leading an organization and make the workplace more attentive to the needs of both men and women include:

1. Create a culture that blends work and home.

I talked with the founder of one company that intentionally took a whole-life approach and didn’t force employees to choose between work and family. That company won all sorts of local awards for being one of the best places to work in the area.

2. Encourage staff to be innovators.

Often even the employees who think outside the box are reluctant to act outside the box for fear of repercussions if things don’t work out quite the way they hoped. But for innovation to happen, a good leader needs to empower employees to try new ideas.

3. Be an adventurer, stay curious.

If you expect your employees to try new ideas, you need to be willing to do so as well. Don’t worry about failing. Keep tinkering and trying stuff and sooner or later you’ll hit upon your a-ha moment.

In my research, I’m finding that the women who know how to create success are not just building better businesses; they are changing the way people work.

The corporate cultures in women-run businesses reflect the personal beliefs and values of the women leading them. And those businesses tend to be highly successful.

 

Andi Simon, author of “On the Brink: A Fresh Lens to Take Your Business to New Heights“, is a corporate anthropologist and award-winning author. She is the founder and CEO of Simon Associates Management Consultants, designed over a decade ago to help companies use the tools of anthropology to better adapt to changing times. Simon also is a public speaker and an Innovation Games facilitator and trainer.

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4 Modern Tech Solutions That Can Increase Workplace Productivity

Are you or your employees operating at peak productivity? According to new research, the answer is likely no. Data reported by Forbes from the U.S. Bureau of Labor Statistics shows that productivity is falling. And there’s a variety of reasons, ranging from distractions like loud coworkers or inefficient tools. In today’s workplace, productivity has a new definition. No longer is it focused on zero-deficit proficiency or perfectly managed hours of the workday.

The modern business climate is based on innovation, adoption and progressing forward. Whether you’re managing a small team or a one man operation, these are the tools that can help entrepreneurs and their teams work more efficiently:

Collaborative Software.

Content collaboration software can change the way modern business teams operate, allowing employees to work together on an entirely new level through the ability to create, collaborate and share projects all in one place. With Atlassian’s Confluence, team members can easily publish, access and organize information in one location. And with team documentation, team knowledge can be captured, stored and grown, all on one single page. In addition to Confluence, Atlassian also offers other software services designed for developers and coders as well as tools for leaders.

Modems Engineered for Efficiency.

Reliable technology is the key to success in today’s fast-paced business climate. Without fast, secure connections, business operations can lag and fall behind. To ensure that your team has the tools that they need to succeed, take a look at your current lineup of tech tools, including cellular modems. When was the last time that you’ve had your modem replaced? Has it been awhile? It’s likely that a lot has changed. After all, technology is seemingly progressing at the speed of light nowadays. Qualcomm, a multinational semiconductor and telecommunications equipment company, is a leader in wireless telecommunications services and products. Consider investing in a device that features a Snapdragon cellular modem, which is designed to deliver never before seen wireless performance. This means fast internet speeds, reliable and crystal clear calls and long battery life that is engineered for efficiency.

Digital Recorders.

Yes, it’s true that iPhone and other smartphones have the capability to record, however, it’s likely that when your employees pick up their phones to press record and talk out a thought or idea they will get distracted, check their texts, calls and click into apps. A more efficient solution that still allows your team to vocally document their big ideas and thoughts is available. Digital recorders can capture fresh ideas as they strike without the distractions a smartphone possesses. Recorders can also be used in important business meetings and conferences so that the information can be played back at a later date, saving wasted time asking repetitive questions via email in attempts to find out what was covered at a specific point and time in the meeting.

Smart Thermostats.

At first, you may not think of today’s smart, learning thermostats as a tool that increase the productivity in your workplace. Well, it’s time to rethink the way you see these techy thermostats. According to recent studies, lower office temperatures have been linked to increased errors and less total output. A smart thermostat system like the Ecobee can not only keep the temperature at optimum levels, it can learn your preferences, heating and cooling the office accordingly throughout the business day. It also works with sensors that you can place in each room of your office space to manage cold and hot spots.

Productivity is falling across the board. Don’t let your business fall, too. Which tips will you implement to keep productivity at its best?

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Eight Subscription Companies Worth Watching: Why They Are Growing And What They’re Doing Right

by Robbie Kellman Baxter, author of “The Membership Economy: Find Your Super Users, Master the Forever Transaction, and Build Recurring Revenue“

In recent years, the Membership Economy has been disrupting the old methods of doing business in a major way. Essentially, companies focus on long-term relationships rather than short-term profits, and customers respond with “forever transactions.” It’s all part of a major paradigm shift in which many businesses are rethinking how they fit into the lives of their customers and leveraging the power of network and community in entirely new ways. Subscription-based companies are at the center of this change.

The former video rental empire Blockbuster gave way to Netflix, and we haven’t ever looked back. In the digital era, the subscription model is a fascinating game-changer whose power is only now being recognized.

Everyone wants to crack the subscription code for loyalty and predictable revenue. The “winners” will be those brands that are disciplined and consistent. And to really succeed, organizations must put the customer at the center of everything they do. These are the brands that are thriving and will likely continue to thrive.

Lots of brands rush to get a piece of this burgeoning market, but without finding ways to serve their target consumers for the long-term, their success will always be short lived. There’s so much competition for customer attention, and it’s so easy for customers to discover and evaluate new options if they’re dissatisfied. And venture capital has enabled all kinds of new and disruptive businesses to reinvent big markets and beat entrenched industry leaders. The age of ‘captive markets’ is over.

The best subscription companies do a few key things right: First, they either solve a subscriber’s ongoing problem or help them achieve a goal — from I never want to run out of toilet paper to I want to stay current on the news to I need the latest design tools and connection with the best designers. Plus, subscription pricing feels low compared to the value of goods or services offered. For instance, with a Stitch Fix clothing subscription box, you save 20 percent when you keep all five items in your shipment, and you enjoy free shipping both ways, should you need to return anything. And with Amazon’s “Subscribe and Save” program, you get a discount in exchange for committing to regular deliveries of a particular item.

Keep reading to learn about eight of my favorite subscription model brands that are excelling in customer satisfaction and loyalty.

1. Amazon.

For service, innovation, and popularity, Amazon is hard to beat. The retail giant has disrupted everything from publishing to retail to consumer products with Amazon Prime. The beloved subscription-based membership program was a “Trojan horse” that first changed consumer behavior by offering “included shipping” and then giving away access to many other great benefits like a Kindle Lending Library, Amazon Prime Instant Video, and Amazon Prime Music.

Amazon Prime forever changed the way customers access the things they want. Now countless other companies are jumping on board by offering their own subscription models.

2. Blue Apron.

You’ll never have to wonder what’s for dinner with Blue Apron’s meal planning services. They deliver fresh ingredients for recipes you prepare at home. Plus, they personalize their options by offering a two-person or a family subscription to help customers achieve their goal of healthy, “fancy,” homemade food made easy. And while their subscription cost is slightly higher than grocery store-sourced ingredients, subscribers love that Blue Apron allows them to prepare homey, high-quality, delicious dinners quickly and conveniently.

Blue Apron makes dinner prep easy for busy people — and everyone is busy these days. And because they peg their cost not to homemade, but to restaurant pricing instead, customers who would normally just order take-out can have a better quality, interesting, and easy-to-prepare meal at home. However, while the company recently went public, a key milestone for any startup, their offering received a lukewarm response from the market, due in part to higher-than-expected churn numbers. Their model appeals to many, but most people cancel after a few months. It’s not yet a ‘forever transaction’ for their audience, although they are working on it.

3. Spotify.

Digital music service Spotify is changing the way we consume music. Spotify’s strategy is to get as many consumers as possible using their music-discovery-and-consumption service, changing behavior from ownership of specific songs and albums to unlimited access. To expand their footprint of loyal subscribers, Spotify has been willing to give away their service in a freemium model. They also provide the premium service at a bulk discount for family subscriptions. Specifically, a subscription allows you to access millions of songs in the cloud instead of having to store your own music files or albums.

Spotify needed to change the behavior of its users, and it succeeded. Customers needed to move from listening to CDs or digital singles to adopting Spotify’s subscription model. Spotify knew that once customers became used to the idea of accessing music instead of owning it, they would become addicted and eventually be willing to pay for access. Now other companies like Apple and Pandora are competing by offering their own subscription services, each with slightly different approaches.

4. Salesforce.

Salesforce.com is the original Software as a Service (SaaS) company and is still a perennial member of Fortune’s “most admired companies” top 20 list. Today, Salesforce.com is the corporate standard for customer relationship management, purchased at enterprise level. It began as a scrappy startup but has since grown to look more like a traditional enterprise SaaS company, with a big sales organization and big annual subscription contracts. But it has always maintained its membership orientation.

Salesforce is the granddaddy of SaaS companies. They popularized the idea of creating a marketplace for applications that would help their customers, and created an incredibly popular annual conference, Dreamforce, that always sells out nearly every room in the city of San Francisco. Salesforce is a brand that has truly created its very own ecosystem and community around its subscription product.

5. Stitch Fix.

Who wouldn’t love having a personal stylist to surprise and delight you with new outfits delivered on a regular schedule? Stitch Fix keeps your wardrobe stylish and updated, based on your unique fashion preferences. And it cashes in on the element of surprise as subscribers look forward to their new clothing box each month.

Stitch Fix solves a clear problem by keeping your wardrobe updated, no matter what your budget is. So, if you like jeans priced around $200, and I never pay more than $100, we get different jeans in our boxes. They’re also great because they combine the ‘subscription box’ model with customization options and access to a stylist — a real person who chooses items just for you! Customization is an emerging trend in subscriptions.

Finally, Stitch Fix packages the items like a present, which has a positive emotional effect; the best subscription boxes pay attention to packaging, unlike the cardboard boxes sent by traditional retailers that are difficult to open.

6. Peloton.

Peloton, the new high-end smart bike, is disrupting the fitness industry by offering class-style workouts in your own home. They blend their top-tier stationary bicycle with a built-in digital screen streaming live classes that rival SoulCycle. (Baxter observes that in the tradition of Blue Apron, Peloton pegs their pricing to high-end SoulCycle classes and not to the cost of cheap stationary bikes.) Further, Peloton taps into the emerging Internet of Things technology to allow students to compete with others in real time during the class.

The bike has a fixed price, set around $2k. But they’re going to make even more money on their classes subscription, priced at $39 a month ‘forever.’ This is an example of the subscription model at its finest.

7. Fuzzy.

Fuzzy is the new frontier of pet wellness. This San Francisco-based company provides subscription access to quality pet healthcare services, delivered in-home, and supplemented with telemedicine. All your pet’s records are made available online, and flea, tick, and heartworm meds and vaccines are included. Their “Ask a Vet” service allows you to get your questions answered anytime via mobile chat. What’s especially great is that you have cost certainty about preventative care — and the most convenient service available.

Fuzzy brings high-quality pet care to your door, tailored especially for your pet’s needs. They are more convenient and cost effective than other veterinary care advisors — and your pets can get their checkups in the comfort of their own home.

8. LinkedIn.

With a clear forever promise to improve career success and provide connection for the world’s professionals, LinkedIn continues to add services to help white-collar workers thrive. While the majority of members utilize a freemium membership, there are several subscriptions available to serve recruiters, job seekers, and salespeople.

In addition, LinkedIn acquired educational subscription company Lynda.com. Now known as LinkedIn Learning, they provide a new way to subscribe, by allowing access to thousands of skill-building courses ranging from data science to body language to my own course on membership businesses. LinkedIn is hot because they’ve created the largest community of professionals in the world and can monetize that community through direct premium subscriptions as well as indirectly through ads.

It’s clear that subscription companies are here to stay. People are busier than ever before, and they need services that are convenient to use, fairly priced, and that deliver ongoing joy and satisfaction. These particular brands have mastered the Membership Economy because they never quit excelling in order to earn customer loyalty. And because of this drive, they are experiencing great success.

 

Robbie Kellman Baxter is the author of “The Membership Economy: Find Your Super Users, Master the Forever Transaction, and Build Recurring Revenue“. She is the founder of Peninsula Strategies LLC, a consulting firm based in Menlo Park, CA, that helps companies excel in the Membership Economy.

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10 Ways To Boost Employee Engagement

by Brian Engard

According to a 2017 Gallup poll, 51 percent of employees are either actively searching for new jobs or keeping an eye on job openings. This likely has something to do with the fact that only a third of American employees are engaged by their work, and only a fifth feel that they’re managed in a way that motivates them. While it used to be common for employees to move up the ranks in their company, now 91 percent of employees report leaving their company the last time they changed jobs.

American employees are feeling less satisfied by and invested in the companies they work for, and companies need employee engagement ideas that work if they’re going to retain their talent and develop a high performance culture.

Modern American employees vary in their interests and in what they want from a company, and there are many employee engagement ideas out there. Here are 10 employee engagement ideas that work:

Encourage employee input.

It’s easy for employees to become disconnected from their work, or to become upset by a change or policy they don’t fully understand. The best antidote to this is open, safe communication between managers and employees. Open-door policies are a great way to facilitate this, and ensuring that employees have a safe space in which to provide feedback to the company can help them develop a sense of agency and ownership within the company, which can increase engagement.

Let employees drive social events.

Many companies have social events such as happy hours or holiday parties. Allowing employees an active hand in planning these events can ensure that they get the most out of them. Giving employees a chance to blow off steam and relieve stress is important, and it can be even more effective when they get to decide what activities are available to help them do that. Giving employees the reins on social activities also creates opportunities to celebrate their success when those activities go well.

Create opportunities for work friendships.

The average American workweek is more than 40 hours, and almost four in 10 American workers say they work at least 50 hours each week. Given that people spend so much time with their coworkers, creating an environment where employees can be friendly with and have fun with each other can make that time more pleasant and productive. But fostering workplace friendships goes beyond simply creating a pleasant work atmosphere. When employees are invested in each other, they work to ensure each other’s success, and that helps the company succeed.

Foster mentorship.

It can be difficult to know who to go to for advice or help when faced with a tricky problem at work, and employees who don’t ask for help or advice may make mistakes or feel isolated. Create opportunities for employees to mentor each other, whether a manager is mentoring a direct report or a more senior employee is mentoring a new hire. Engaging in a supportive mentorship with an employee allows the individual to seek guidance and improve performance.

Promote health and wellness.

Modern jobs are increasingly sedentary, providing little opportunity for exercise or activity. This can take a toll on employees’ health, which can affect their mood and energy levels in significant ways. Promoting employee health and wellness can be a great way to combat the sedentary modern lifestyle and foster a sense of community and reward in the process. Benefits like weekly yoga, gym membership discounts or fresh fruit in the break room are all great ways to promote health and show your employees they matter.

Set clear goals and provide feedback.

Many employees struggle in their jobs because their roles aren’t clearly defined, and they don’t know by what metrics they’re being evaluated. Taking the guesswork out of an employee’s job can improve that employee’s performance and satisfaction within that position, and providing regular positive feedback can provide the employee with a sense of being appreciated.

Celebrate employee achievements.

And speaking of positive feedback, it’s important to celebrate employees when they achieve something important. This certainly applies to events such as completing a big project or earning a promotion, but it also applies to personal achievements like a birthday, wedding or anniversary. When employees are celebrated at work, they feel a stronger connection to the workplace community and a greater sense of being valued.

Maintain a flexible dress code.

Part of feeling valued within a job is feeling respected by the company and by one’s managers. A simple, effective way to show respect to employees is to allow them to make their own choices with regards to dress. Rigid dress codes can cause employee morale to suffer; they can cause employees to feel disrespected and robbed of agency and autonomy as well as creating artificial barriers between employees and management.

Support flexible schedules.

Employees have numerous demands on their time outside of work, and a workplace that accommodates those demands within reason can improve employee engagement overall. Flex time, personal leave and allowing employees to set their own hours are all important ways to give employees control over their daily lives and ensure they’re able to focus on work while they’re at work.

Establish remote work opportunities.

Like being flexible with scheduling, providing employees the opportunity to work from home can result in significant increases in satisfaction and engagement. In fact, the most engaged employees tend to be those who spend 60 percent to 80 percent of their week working remotely.

Advancing a Career in Business.

Maximizing employee engagement is an important part of becoming a leader in business. With an online associate degree in business administration, an online bachelor’s in business administration or an online MBA from Campbellsville University, you can gain the skills you need to take your career in business to the next level. Learn in a flexible, online environment that allows you to maximize your own engagement, on a schedule that works for you.

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Types Of Coaching In The Workplace

Coaching in the workplace is expanding and “has become a more accessible development option which can help to shorten the learning curve and adaptation to a new environment or role,” according to The Journal of Positive Psychology. Business leaders have focused on this practice to help employees enhance their skills and knowledge. 

While organizations recognize the importance of business coaching, few managers know how to make it work, says Candice Frankovelgia of the Center for Creative Leadership in Forbes.

More than half of organizations use some form of internal coaching and the rest plan on doing so, yet nearly half of all managers spend less than 10 percent of their time coaching. Business leaders should consider how they can implement two different types of coaching in the workplace:

Calendar-Driven Coaching.

Scheduled, calendar-driven coaching sessions are more than a quick “How’s it going?” chat, according to management consultant Dick Grote in Harvard Business Review. These meetings should have the following characteristics.

• Take place in formal, structured, sit-down sessions.
• Be initiated, led and controlled by the manager.
• Cover work conducted over time — not a singular event or project.
• Offer a forum to discuss and review multiple events and competencies.

This type of workplace coaching occurs regularly. Every three months is a good frame of reference. Managers and employees should work together to make them an ongoing routine. Moving a date is acceptable, but it is important to stick to an agreed-upon basis for meeting.

Calendar-driven coaching sessions have a simple structure. Managers start by asking employees what major events took place since the last time they met. For the next 30 to 45 minutes, they discuss what went well, what challenges took place and what lessons were learned. Prior to the meeting, managers can also have employees email a list of topics they want to cover.

Event-Driven Coaching

The other major type of coaching in the workplace is event-driven coaching. This form of workplace coaching takes place when an event or activity prompts a session.

Events can range from discrete incidents to “teachable moments” that present themselves. The manager or the employee can initiate the coaching discussion, as this event-driven coaching relies on interaction and accountability. A session is warranted anytime discussion is needed.

Compared to calendar-driven coaching, event-driven coaching is not only spontaneous but informal. “You can even hold an effective event-driven coaching session while you and your team member are walking down the hall after a meeting ends,” Grote says. Questions can revolve around how the other person thinks the meeting went, asking about the employee’s reaction to specific recommendations made in the meeting and asking what parts of the presentation went best. Then insights — including agreements, disagreements and “in additions” — can be provided.

“The best technique I’ve seen for structuring these coaching sessions may be the after-action review (AAR) procedure developed by the U.S. Army in the 1990s,” according to Grote. “AAR is a structured review or debrief process for analyzing what happened, why it happened, and how it can be done better by the participants and those responsible.” Key questions include the following.

• What was supposed to happen?
• What happened?
• What are some improvements?
• What can be done to improve the training next time?

Coaching Skills.

Managers can become more effective at coaching by focusing on specific skills. Frankovelgia identified research from the Center for Creative Leadership that breaks down these skills into five categories.

1. Build the Relationship.

Trust is important for enabling someone to learn from another. Establish boundaries and build trust by being clear about learning and development objects, showing good judgment, being patient and following through on promises and agreements made.

2. Provide Assessment.

Try to help your employees gain self-awareness and insight. Provide timely feedback and help clarify behaviors that employees would like to change. Assessment typically focuses on gaps or inconsistencies, current performance vs. desired performance, words vs. actions and intention vs. impact.

3. Challenge Thinking and Assumptions.

The coaching process involves thinking about thinking. Ask open-ended questions, push for alternative solutions to problems and encourage reasonable risk-taking.

4. Support and Encourage.

Coaches listen carefully, are open to the perspectives of others and allow employees to vent emotions without judgment. Encouragement and recognition are vital.

5. Drive Results.

Effective coaching achieves goals. Help employees set meaningful goals and identify behaviors or steps for meeting them. You can help clarify milestones or measures of success and hold the employee accountable for them.

Effectiveness of Coaching in the Workplace.

Research on coaching in the workplace reveals that it can have benefits for teamwork, quality, communication, job satisfaction, flexibility, performance, ownership, succession planning and career planning, according to a meta-analysis from The Journal of Positive Psychology. Workplace coaching is noted for being one of the most powerful methods of developing soft skills.

The journal also conducted a study analyzing the effects of workplace coaching and found significantly higher levels of general self-efficacy, compared to a sample of non-coached staff. Comments from coaches and in questionnaires from coached staff supported this notion.

• “…through the coaching I have received I have learned to turn threats or barriers into opportunities.”
• “I can now go into different places that I do not know and feel ok about myself and that I can deal with whatever comes with it.”

Literature also suggests that the process of workplace coaching results in learning from the coach, representing a largely untapped potential for adding strategic value. Findings verified this idea. “The majority of coaches in the sample felt they had improved their ability to deal more effectively with issues, generate solutions to problems and gain clarity on personal goals, due to undertaking a coaching role,” researchers in The Journal of Positive Psychology said. “This is an interesting addition to the area and one that would benefit from further investigation.”

Advancing Your Career in Business.

Aurora University’s online Bachelor of Arts in Leadership Studies (Nonprofit Leadership), online Bachelor of Arts in Business Administration and online Master of Business Administration degrees help students develop the knowledge and skills needed to lead others and advance their careers. Students receive instruction in current business practices from faculty members with real-world experience. Each program takes place in a fully online learning environment.

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