Security Tips For Start-Ups

When you finally take the leap to start your own business, it can be incredibly exciting. Of course, it can also be quite stressful at the same time as you need to think about your finances and any kind of security concerns. Security is very important as technology advances and hackers become better at what they do.

Here, we are going to give you some of our security tips for start-ups. This will include everything from protecting your intellectual property to using strong passwords on your network. Keep reading to find out more about what you should try to do.

Use Strong Passwords.

Everyone knows that you need to make sure that your password is secure when you sign up to anything but how strong are your passwords in your business? It can be easy to fall into the trap of using the same password for everything but if you want to protect your new business then you need to make sure that you are taking things a little more seriously. Try to create secure passwords and change them as often as you can. You should also make sure that anyone in your business is doing this as well.

Protect Your Intellectual Property.

If your start-up involves creating something new or sharing your ideas, then you need to make sure that you are protecting your intellectual property. To do this, you should make sure that you are getting in touch with intellectual property solicitors who can help you to make sure that no one can take advantage of the work that you have created. Intellectual property is a very serious legal matter so make sure that your business is protected from the very beginning.

Use Encryption.

Our final tip for those who want to make sure that their new start-up business is secure is to use encryption. This is something which should be considered both for your own details and personal information but also for your customers. Anyone visiting your website will be on the look out for an SSL certificate and if you don’t have it then they might take their business elsewhere. Make sure to use encryption where you can and make sure that you are protecting your business from anything that might come your way.

Conclusion.

If you have recently started a new business, then you should make sure that you have added some extra levels of security. Think about using strong passwords and changing them as often as you can. You should also use encryption when sending or receiving any kind of information. While these things are important, it is almost more important to protect your intellectual property. You need to ensure that you are protected and that no one can claim that your work is theirs.

Follow all of the advice that we have given you in this article and you should find that your start-up business is protected. Soon, you’ll have a booming business that won’t fall victim to an attack.

from Young Upstarts https://ift.tt/2KIL9K9 via website design phoenix

Top 3 Life Skills That Can Actually Get You A Job

by Blake Heron, founder of Skills Co

A booming global economy, advancements in technology, and easing international trade policies have opened gateways to an array of new opportunities. The new wave of opportunities has brought in good news for everyone around the world with average salaries continuously increasing since the last decade. Are you ready to ride this new wave of progress? Your most likely answer is to be a yes and even if you say no, it won’t harm you to remain in the thick of the changing things. To effectively ride this wave, you need a good surfboard or a boat. The first step towards making your way to that boat is your resume.

Does your resume have the edge required to catch the eye of the new-age recruiters? Are you aware of the top skills to be listed on a resume? No, we are not talking about your badass coding or your enchanting designing, we are talking about the most basic of life skills.

Surprised? Don’t be! Modern employers analyze your profile beyond experience and technical skills to find the right person for the job. Don’t believe us? Here is a fact that will change your perception. According to the International Association of Administrative Professionals, 67 percent of HR managers hire people with strong soft skills although they lack the required technical skills.

Before we reveal the list of life skills that can help you stand out in the crowd, let’s take a detailed look at the type of skills listed on a resume:

Hard Skills.

Concrete professional traits that you have developed through classroom training, courses, or on-the-job training are known as hard skills. These are measurable skills that you develop specifically for the career you opt for. Skills such as coding, plumbing, account strategies, etc. are termed as hard skills.

Soft Skills.

Soft skills, on the other hand, are personality traits that you develop over your lifespan and are hence also known as ‘life skills’. The set of skills are hard to quantify. Interpersonal skills such as communication, teamwork, professionalism, etc. fall under the soft skills category.

Top Soft Skills to be listed on a Resume.

Communication.

Effective communication is central to the smooth functioning of every organization irrespective of the business model they are based on. Due to this reason, communication is a soft skill that is ranked highly by recruiters. Proficiency in written as well as verbal communication should be highlighted on your resume.

An effective way to highlight your communication skills is to check your resume for grammatical, spelling, and contextual errors. Ensure you use short and crisp sentences in your resume. Additionally, you can prove your proficiency in communications when interacting with the recruiter.

Teamwork.

Workplaces in the modern era are a mix of different teams collaborating to achieve a common goal. Collaboration and teamwork is a quality that is ranked highly in the corporate space. Therefore, it is necessary that the employer knows that you’re a competent collaborator and maybe even a leader in the making.

However, mentioning the term “team player” on your resume will be termed as a forced attempt to please the recruiter. Instead, you can prove yourself to be a team player by mentioning the projects or social events you have been a part of. You can portray yourself as a leader by mentioning how you mentored or coached people during college or in a certain organization.

Problem Solving.

Employers are constantly on the lookout for game changers who can bring in a new and fresh perspective to solving their problems. Creative solutions are one of the most sought after intellectual commodity in the corporate space. You can subtly emphasize your problem-solving skills by articulating on a problem and defining a solution highlighting your problem-solving skills.

These are the three basic soft skills that should be subtly highlighted on your resume. While technical skills are important, recruiters should be made aware that you have some exceptional expertise in your profession and this can be only made possible through soft skills. So you see how enlisting soft skills indirectly on your resume can play a huge role in getting you the job of your dreams.

 

Blake Heron is the founder of Skills Co, an online platform where users can learn new skills from industry experts through video master courses. A self-made entrepreneur he grew his first multi-million dollar business at age 29, Bay Crawlspace and Foundation Repair, into a team of 25 and producing $300,000+ per month.

from Young Upstarts https://ift.tt/2XBoUvz via website design phoenix

Six Degrees Of Competition: The Future Might Surprise You

by Kris Oestergaard, author of “Transforming Legacy Organizations: Turn your Established Business into an Innovation Champion to Win the Future“

Do you really know who your competitors are? I mean, not just the obvious ones who have direct substitutional products, but also the ones who indirectly affect usage of your offerings today and who might have a massive impact on your value offerings in the near future? A way to investigate this is through a simple game I call “6 degrees of competition.” The answers you find may surprise you and not only illuminate the threats out there, but also unveil massive opportunity.

Throughout the 20th Century, scientists around the world explored social networks and the influence of technological development on human connections. Most famously, in 1967, psychologist Stanley Milgram sent letters to 160 different people in the United States and asked them to forward the letters to the acquaintances they thought would bring the letters closest to one ultimate recipient, a stockbroker in Boston. At the end of the experiment, Milgram found that each letter made five stops on average. Hence, the phrase “six degrees of separation,” with which you may be familiar.

The point here is that the world is getting smaller, and that the connections between us are becoming shorter. This is known as the “small world problem.” If you take this principle and use it to analyze your competitive landscape, something interesting happens.

Let’s explore the 6 degrees of competition through a simple product: Coffee. Suppose you’re a coffee producer who sells one pound of packaged ground coffee beans in the supermarket. With inspiration from Milgram’s experiment, we can now trace the pound of ground coffee and explore who or what the competitors are in the first degree, second degree and all the way up to the sixth degree, and see if we can close the chain and lead the sixth degree competitor back to the starting point — the pound of packaged ground coffee beans.

Let’s say that the pound of ground coffee is from Folgers. It could be any coffee brand. But let’s just choose Folgers, as it’s one of the best-selling coffee brands in the world. If you were to point out the first degree of competition to the pound of Folgers coffee, who or what would it be?

If your suggestion is other coffee brands like Nescafe, Maxwell House, Keurig or Gevalia, who also sell packaged ground coffee beans, we are on the same wavelength. It’s basically the same product, in the same packaging, for the same price with the same value. So far, so good.

Who would be competitors in the second degree to ground coffee beans? My suggestion would be tea or maybe other hot drinks, but probably tea. If you drink a cup of hot caffeinated tea, you’re busy not drinking a cup of hot caffeinated coffee, and you’re thereby not using any of your ground coffee beans.

Who would be the third degree competitor? What about Red Bull or Coca-Cola? They’re cold, not hot, but they contain incredible amounts of caffeine, and in many ways they’re oriented towards the same kind of value creation as the coffee – giving the consumer more energy and focus.

Who would be the fourth degree competitor? This could be Starbucks. If you buy a cup of coffee at Starbucks, then you’re not using the ground beans that you would prepare to make a cup of steamy hot coffee at home.

Who could be the fifth degree competitor? Now it gets more difficult because we’re well on our way into unknown territory. Allow me to make a suggestion: Have you heard of the Muse? It’s a meditation device that you attach to the forehead and behind the ears. It reads brain waves and decodes whether the brain is in an alpha, beta or theta state. In other words, it tells you how focused you are. Through an app, you can choose different soundscapes, like rainforest, beach or city streets, and, using headphones, you can listen your way to your brain’s activity level. The more relaxed you are, the less noise there is and the less the wind blows in the various soundscapes. If you hear birds chirping, you know that you’re completely in Zen mode and have achieved the optimal condition. The information is tracked, of course, to measure your development. It’s gamified meditation in a convenient way.

Think about what products, similar to Muse, are going to do to coffee cup numbers three, four and five over the course of a day if, instead of grabbing a cup of coffee and a Snickers bar at 3 p.m. for a few extra hours of focus, you put on your headphones for 10 minutes and reap the same rewards. And the products available today are only version 1.0. Imagine where we might be headed.

Who could be the sixth degree of competition to the pound of ground coffee beans from Folgers? Well, think about self-driving cars. Within a few years, self-driving cars will be a normal feature in traffic. How will self-driving cars affect our coffee needs when we no longer need to drink coffee to stay alert enough to focus on traffic? It might mean a lot, or it might not. Perhaps we will still want to drink the same amount of coffee, but we’ll have a better time enjoying it because we won’t simultaneously need to focus on holding a steering wheel.

But one thing is for sure: Self-driving cars will massively impact the coffee producers’ value chain. Because where is a large proportion of the revenue of coffee producers — say Starbucks, and also Red Bull — coming from? From gas stations. With self-driving cars, we’ll no longer need gas stations.

Bang! With a blow, the world has radically changed. Because if we no longer need to go to the gas station, where are coffee producers, Starbucks, Red Bull and the many other on-the-go-dependent brands going to sell their products? And that’s how the self-driving car goes on to become the coffee producer’s future sixth degree of competition.

The question now becomes whether the coffee producers discuss Muse and self-driving cars when they think about the future. In most cases, I would venture to assert that very few boards, management groups, product development teams and analytics units in most established organizations have those discussions. They never go further than the second, third, or, at a maximum, fourth degree before feeling confident that they have a good sense of their competitors.

I challenge you to take your own core value offering and go through the same exercise. Ask yourself who your competitors are in the fifth and sixth degree — that place where you leave your comfort zone and the answers are no longer obvious. This investigation will significantly expand your competitive landscape and, more importantly, open up an opportunity space that’s many times greater than your organization’s traditional orientation. The opportunity space could potentially even make it logical for coffee producers to develop digital services and completely reconsider their distribution chains.

 

Kris Oestergaard is a sought-after speaker, facilitator, researcher and expert on innovation in legacy organizations, corporate cultures and exponential organizations. He is co-founder and Chief Learning and Innovation Officer at SingularityU Nordic, a collaborative venture with Singularity University in Silicon Valley. His new book is “Transforming Legacy Organizations: Turn your Established Business into an Innovation Champion to Win the Future“.

from Young Upstarts https://ift.tt/2X662AE via website design phoenix

Why Automation Could Change Your Marketing Process Forever

Automated business services help companies realize their full potential and eliminate restrictions based on budgets or time constraints. The integrations work closely with business services and streamline how companies accommodate and retain customers. A greater level of customer service is possible when automation takes center stage the company’s marketing infrastructure.

Improve Customer Relationship Management.

Cultivating and maintaining relationships with clients is the key to success in any business. Strategies used for the efforts are time consuming and take the focus off more pressing daily tasks. For this reason, companies fail in this area of business and never find time to reach their full potential.

Customer relationship management automation help businesses collect actionable data and discover more successful techniques for interacting with customers. The information shows business owners the behaviors and patterns of their customers and how to meet their individualized needs. For example, the details identify what types of products the customer prefers and makes a connection between the customer and new or related products that meet the client’s demands.

Ensure a Human Touch Through Automation.

Automation assists companies by customizing interactions with customers. The goal is ensuring a human touch in all communications even when they are scheduled through the software. The software records and keeps track of the most recent communications between the company and its clients. The details help the sales team streamline how workers and the owner contact the customer.

The software generates sales pitches according to data collected from the customer’s activity and behavioral patterns when ordering products. All communications between the customer and the company are personalized and relevant. The integration monitors and schedules messages after the customer contacts the company.

How Automation Enhances Content Marketing on Social Media.

Automation makes social media marketing more efficient. Instead of creating each post individually and monitoring customer interactions, companies save time and effort by scheduling the requirements. The system makes it easier to edit content and target leads directly. The software identifies followers with a greater interest in the business and its products. The company uses the information and increases their conversion rates. Reviewing service providers, such as Sharpspring helps business owners realize how critical automation is to their marketing efforts.

Enhance Account-Based Marketing Efforts.

Automating account-based marketing efforts help companies organize their customer contacts more efficiently. The software tracks customer activities and determines when the sales team contacts each lead. Alerts generated from automation software identify website visitors who have a strong interest in products or services. The systems send out email marketing campaigns to the potential customer after they sign up for promotions and sales materials.

The data collected from the software helps companies streamline more focused advertising practices and ways for closing more sales. The owner sets up guidelines through the software and automated services connect with new and existing customers instantaneously.

Find Hot Leads Fast.

Automated business services show sales teams what customers are most likely to make a purchase. All potential and existing customers are evaluated, and a lead score is assigned. Details about all customers with high scores are sent to the sales team immediately. Companies that use the integrations close more sales and streamline their sales practices.

Lead scoring and grading automation simplifies the process and cuts down on time required for assessing clients.

Automation changes marketing processes significantly. Adding automation to the marketing infrastructure establishes better relationships with customers and manage accounts more efficiently. Marketing-based communications improve, and the company finds hot leads quickly. Social media efforts become more successful, and the company achieves all marketing goals required for unlimited earning potential.

from Young Upstarts https://ift.tt/2X4lQUF via website design phoenix

How To Transition Your Business Into A Remote Company

By now, you’ve probably already heard about the rise of remote working. Digital nomads now have a slew of resources at their hand, from an influx in coworking spaces to new technology designed to accommodate the mobile workforce. And there are plenty of benefits of working remotely: studies have shown that it can improve productivity and creativity, and today’s workforce is attracted to autonomy and flexibility.

From a business standpoint, remote work can also save you plenty of money. Without office and overhead costs, you can put more cash into growing your business. For instance, IBM was able to save a whopping $100 million in one year when they launched their remote work program.

Ideally, you would launch a business as a remote company. But this isn’t always the case — particularly for businesses born before the remote work boom. Here are some tips on transitioning to a remote company:

Start Slow.

If you currently rent (or own) a commercial space, your end goal is to transition out of that space. And of course, there are plenty of reasons why ditching your brick-and-mortar location will be beneficial to you. Not only will it cut costs dramatically, but it will also reduce commute times for everyone and free you from the management constraints of running an office or property on a day-to-day basis.

But this typically cannot happen overnight. Start by talking to your staff about your mission to begin allowing remote work. Instead of starting right away, have your team spend 2-3 days out of the week working remotely, giving you ample time to get your affairs in order. If you own your brick and mortar space and don’t want to sell it just yet, consider renting it out to other businesses to bring in that extra income.

Build Remote Teams.

Every business approaches their remote work philosophy differently. There are some businesses who benefit greatly from having an on-site staff. However, you can break your own remote program into pieces by keeping some members of the team in-house and building smart work-from-home teams. For instance, customer service is one area that many businesses choose to outsource to help them cast a wider net and better service their clients and customers. It also allows companies to work with a much bigger, diverse talent pool.

Make Traveling Easy.

Remote staff may be more likely to travel, and you should make this process as seamless as possible. For example, with corporate travel services, management can benefit from total end-to-end control over the booking process. This is especially useful for remote staff that consistently travel to meet clients and businesses that offer travel incentives. Furthermore, maintaining a personal connection with other employees on a remote team can be tough—a yearly work retreat allows everyone to curb distance and supplement digital avatars with in-person facial recognition.

Maintain a High Level of Transparency.

Building a great work culture as a remote team is a little more complex; transparency is one of the best ways to ensure the entire team is informed, no matter where they sit on the totem pole. Some companies, like the remote-only Buffer team, have radical transparency, which means everything—from employee salaries to company revenue to equity breakdown—is publicly available.

While you don’t have to make everything in your business totally transparent to the public, internal transparency will go a long way towards building a remote staff that trusts you. For example, Scott Berkun, who wrote the book “The Year Without Pants,” described how his remote staff used a discussion platform to ensure discussions and decisions were available internally. No matter who you are or how long you’ve been at the company, you should have open access to learning about how decisions were made and why.

Develop a System.

Without your team at your fingertips, you need a system to ensure the ship continues to sail smoothly. For example, you should have weekly meetings with your stay to stay abreast on project updates, concerns, progress, and various other tidbits. Try out a handful of collaborative project management tools and messaging systems to learn more about what works best for you. You can even find a mail-scanning provider who will digitize your mail and send it to the appropriate people.

from Young Upstarts https://ift.tt/2ZTAno4 via website design phoenix

5 Key Tips You Should Know Before Going Into The Healthcare Industry

Over the years, the medical field has survived economic decline. It is one of the few areas that have continued to add jobs throughout the recession. While other industries were shedding hundreds of jobs, the medical field provided limitless opportunities.

That’s why many job seekers desire jobs in the healthcare industry. However, going into the healthcare industry is not a walk in the park. You will need to undergo specialized training in a medical school.

Still, there are hundreds of support jobs available at the entry-level.

The Healthcare industry is not for the faint of heart. Keep reading for five essential tips you should know before going into the healthcare industry.

1. Helping People.

Few careers allow you to assist people directly. But in the medical field, you will be in a suitable position to offer assistance. You can be compassionate and still earn a decent living in the medical field.

If you work in healthcare facilities, it doesn’t matter if you are in an administrative role or you are the nurse. As long as you are in the healthcare industry, you will be helping people. For example, if you are the receptionist, you will be guiding patients inside the healthcare facility.

2. Fast-Paced Environment.

The medical field is a fast-paced industry that demands competent staff. The field has challenges and offers the chance to work with people from all walks. There is no dull day in the medical field.

You will be tasked with solving complex problems within a short time. However, you will be allowed to work as a team to get things done. Teamwork is essential and gives opportunities to work towards a joined goal.

3. Opportunities to Work Abroad.

Working in healthcare facilities gives you the chance to travel the world. Your role as a nurse will not be limited by geography. You will receive work opportunities from all over the world. There is a need to know how to manage workplace conflict.

Each field in the medical industry is in high demand globally. The healthcare industry is ideal if you want to make money, help patients, and spread medical expertise all over the world.

4. Mentor.

A mentor in the medical field can help you advance your career. The mentor should also guide you throughout your career path. The easiest way to find a mentor is by working in a medical office.

You can start working at the entry level. Demonstrating your willingness to learn and grow will propel you to higher level positions. You should be someone with experience in the healthcare industry. The mentor should be well connected and able to boost your efforts during a job search.

5. Roles for Every Skillset.

You might ask yourself; why work in health care facilities, and I don’t have the medical skills? The good news is that it is a broad field that can accommodate every skillset. You can look for administrative roles in a health facility and advance your career.

Going into the Healthcare Industry.

By going into the healthcare industry, you will be able to help a lot of people. Healthcare goes beyond all boundaries and promises a fulfilling life both professional and personal.

Check out the rest of our blog for more tips and ideas on careers.

from Young Upstarts https://ift.tt/2KH2kvN via website design phoenix

For The Young Business Owner: How The Power Of The Internet Can Make Or Break Your Business

Undeniably, the internet has made a big impact on the everyday lives of the people of today. Young and old, men and women, rich and poor, almost everyone has access to the internet. The internet has a very wide reach and this influence comes with having the ability to create strong biases, both good and bad.

This is why responsible management of social media accounts or other internet websites handled by your company is a must. One good review can boost a company’s product or service in the same way that one bad review can easily throw the company’s reputation and credibility down the drain.

As a young entrepreneur, you may be fairly new to the intricacies of the business arena as compared to your older and more experienced counterparts, but what you do have is the advantage of being more socially aware and more technologically literate than them. In the business arena, you can use this to your advantage.

You will need to study and to find ways on how to get Google reviews that would boost your business website credibility and reliability score. You can do this by searching the web or asking your friends and business partners for companies which can provide you with services that cater to this specific need.

Moreover, to take full advantage of the benefit that the internet may potentially give your business, you should also know how to market your goods and services online. This is where digital marketing comes into the picture.

Digital Marketing is a form of advertising strategy directed through electronic and internet avenues. Through digital marketing, vital information about the goods and services of a company can reach millions of target audiences which can then turn into potential customers.

Among the many digital marketing strategies that you can try using are Search Engine, Optimization (SEO), Content Marketing, Social Media Marketing, Pay Per Click (PPC), Affiliate Marketing, Native Advertising, Marketing Automation, Email Marketing, Online PR, and Inbound Marketing.

Among these digital marketing techniques, SEO stands above the rest. Search Engine Optimization involves the process of strategically using a search engine’s algorithm within the bounds of its rules and regulations in order to boost and improve a business website’s rank on a certain search engine’s results page.

With SEO, you can create and increase brand awareness. This gives off the impression of being a reliable and legitimate business website, thus increasing your chances of successfully converting a sale of your product or causing the use of your services.

Furthermore, SEO is one of the most cost-effective digital marketing techniques you can find. Unlike other digital marketing strategies like PPC, SEO does not charge you when your website gets clicked on. This makes it relatively cheaper than PPC, although it may take some time for your website to attain the top ranking status on the search engine results page.

Pay Per Click advertising or PPC, another digital marketing technique, costs a specific amount of money per click. For a slight introduction, the average Cost Per Click on Google Ads is between $1 and $2 on the search network. The average CPC on the Display Network, on the other hand, is under $1.

In a PPC arrangement, you are required to pay once your website gets clicked on. As a consequence, costs may pile up and your sales may not be able to keep up with this trend. Furthermore, clicks and traffic may not necessarily lead to sales. Thus, loss caused by unintended and uninterested clicks may occur. However, the good thing about PPC is that your ads and website appear at the top portion of the search engine results, attracting more attention to you and your brand.

Another notable digital marketing technique is social media marketing. Almost all of us have one or two social media accounts where we spend a considerable amount of time. With social media marketing, the advertisement and promotion of a business’ products or services may be subtly integrated into these social media sites. This less intrusive approach has the effect of attracting potential customers in social media websites.

Truly, the internet can either make or break your business. It would be up to you if you want to use this to your advantage or let it be the cause of your business’s downfall. Knowing how to integrate the internet’s positive advantages into your business is both a learning process and an exciting venture. Research and study hard about the positive and negative effects of the internet to your business so that you can be able to maneuver the steering wheel of your business in the right direction.

from Young Upstarts https://ift.tt/2JgN0Tc via website design phoenix

What To Consider When Looking For The Right Coworking Space

You’ve decided to tap into the benefits of using a coworking space to conduct business. Before you jump on the first option that comes along, take some time to learn what to consider when looking for the right coworking space.

Location, Location, Location.

In the real estate market, there is the saying “location, location, location.” It simply means that location is the most important factor. This carries over into finding the best coworking space as well. Perhaps one of the most important reasons for choosing the workspace best for you is its location.

While giving up the long daily commute may have been a reason why you quit your previous job in favor of going solo, you will want to make sure that the coworking space you choose is located fairly close to your home.

The proximity to your home with a shortened commute in mind is not the only location consideration. Also, think about the neighborhood the office is located in regarding its reputation. Is it an up-and-coming, prestigious area? If so, good. The location is going to speak volumes to potential clients who come to visit you. Additionally, think about what it would be like to spend several hours a day in this spot. Are there places to eat or walking trails nearby? What about the parking? Will you need to use public transportation, or is it easy and affordable to drive your car and find a safe place to park once you get there? If you work with many clients who fly in regularly to meet with you, also think about its proximity to the nearest airport.

Finally, some locations are considered strategic locations. For instance, in the San Francisco Bay Area, you may live in a different city than San Francisco, but travel to a coworking space in San Francisco, such as one of SOMAcentral’s offices strategically located close to Caltrain station in San Francisco. Why? Because all the startups are there, and there are massive opportunities for networking. We will discuss the networking benefits later in the article.

Work Environment and Amenities.

Shared space usually comes with a few expected office amenities, such as internet, the use of a copier, and access to other office supplies. Some offer a shared snack or lunch break room complete with coffee. Make sure you know exactly what you will need day-to-day to conduct business with ease and whether or not these things are included before you sign a contract.

The physical environment is also an important consideration. Obviously, you should visit the workspace before signing a contract. Some will allow you to try it out for a while. If this is offered, always take advantage of the opportunity because it will give you the chance to find out if the workspace is comfortable and workable. Is the environment too cold, too hot, or just right? Is the chair a good fit? Are there too many distractions, or is it a place where you can focus? Basically, get your feet wet, so to speak, and see if it’s a place where you can get work done.

Networking Opportunities and a Sense of Community.

You are in business for yourself right now, but sharing a workspace means that you should make sure you get along with those you’re working across from every day. If your coworking space allows a trial period, use this time to get to know some of the other occupants to make sure it’s a feasible working relationship. Not every group is going to be your best fit. You will get the most out of sharing office space with other professionals if you approach it as an opportunity to cooperate and help one another succeed rather than ignore everyone. Networking is one of the best perks that coworking spaces provide, so pay close attention to this factor.

You will be sharing the workspace with other entrepreneurs who are just as excited to build their businesses as you are to build yours. To tap into this potential and form some camaraderie. Some coworking spaces also offer after-work activities, such as a softball team or happy hour events. One of the other great things that some shared workspaces offer is the ability to host special community events such as talks from highly respected entrepreneurs or potential investors. An opportunity like this could be worth its weight in gold.

Cost.

Obviously, you will need to consider the cost of the coworking space’s rent. Does it fit within your budget? The very basic idea of any business is to make a profit, so if you are losing money paying for a space in which to conduct business month after month, then you might want to consider a space with fewer amenities, renting by the hour or day instead of by the month, or finding a space in a less costly location to start off and build up as your business grows.

from Young Upstarts https://ift.tt/2XD2RVq via website design phoenix

3 IT Essentials Every Startup Needs

If you’ve launched a startup or are planning to launch a startup, chances are you already have a pretty good sense of what it takes to get a business off the ground. In any industry, launching a company is a huge undertaking, and business owners need to find the tools, strategies, and services that will help them grow their startup into a huge success.

In our increasingly tech-driven world, one of the biggest decisions you have to make is how to handle your startup’s IT needs. If you choose to go with a managed service provider, make sure they’re prepared to deliver all of the essentials your growing business will need, like:

• Cutting-edge flash storage solutions
• Comprehensive IT roadmapping
• Backup and disaster recovery

Flash Storage Solutions.

For startups, staying ahead of the competition is all about efficiency. Without efficient technology, your business will struggle just to keep up with others in the industry. Luckily, IT service providers can get you up to speed with customized flash storage solutions.

All-flash storage is significantly faster than mechanical disk storage options, and they’re designed to support a wide variety of functions. That means that no matter what your startup’s storage needs are — from server virtualization to analytics — flash storage can help you meet them.

Don’t let outdated storage solutions slow your startup down. Invest in an IT provider that has expertise in flash storage.

IT Roadmapping.

Technology is always changing. Just think about it – the phone in your pocket, even if you just bought it a few months ago, probably isn’t the hottest on the market anymore. Technology evolves every day, and your IT provider should be prepared to keep your company up to speed.

When an IT company develops an IT roadmap with your startup, they are defining a strategy to support your company with the latest technology today and continue updating it into the future.

Where will technology go from here? It’s difficult to tell. Be prepared for anything when you choose an IT provider that specializes in IT roadmapping.

Backup and Disaster Recovery.

If your personal computer has ever crashed, you know just how disastrous a hardware or software malfunction can be. Now imagine if that happened to your startup — yikes, right? 

Don’t let unexpected technical failures, security breaches, or even simple human error derail your business. Find an IT provider that does more than simply backup your files to an external server — find an IT provider that can help your startup roll out a complete disaster recovery plan.

No matter how hard we try to prevent it, sometimes data loss happens. Be prepared for your worst case scenario with regular backups and a complete disaster recovery plan.

Finding the right IT provider is a process. Make sure your startups IT provider can cover all of your essential IT needs.

Launching a company is challenging, but with the right technical support, you can set your startup on a path towards success. What IT services are a must for your startup? Let us know in the comments!

from Young Upstarts https://ift.tt/2NgClxi via website design phoenix

Are Millennials The Most Entrepreneurial Generation?

Whilst they currently only account for around half the global workforce, by 2025, 65% of working people will be classified as ‘millennials’ – a brand that brings with it some rather hefty baggage. It’s a generation (born between the 1980s and the start of the 21st century) that have been called everything from “entitled snowflakes” to “selfie obsessed narcissists.”

But in actual fact, working millennials might actually be harder working and more likely to succeed than their baby booming parents.

Tech literate.

Whereas most of us still remember a time when we needed to unplug our phone lines in order to access the internet, younger millennials have grown up with perpetual access to high-speed, wireless internet. As a result, they are natively tech-savvy, which is a major benefit when it comes to starting a new business.

Loans.

As they are younger and have that much more time stretched out ahead of them, millennials are generally better equipped to take out a small business loan that they will actually be able to pay back. Companies such as Liberis specialise in helping millennials find the capital to create their dream venture.

Part-time experience.

Kids today are starting work younger, with around 76% of teen millennials earning money through part-time work before they left school for full-time gainful employment. This means they are already versed in the ways of the working world.

Freelance.

Remote working has led to a situation where freelance work is no longer seen as a last choice,  but as a legitimately flexible alternative to ‘conventional work’. With more innate skills when it comes to building a brand (through social media, for example), millennials are well-placed for the freelancer lifestyle.

Young minds.

With generation Z slowly growing up and joining the workforce, millennials will be more on their wavelength than older co-workers. This means it will be easier for millennials to integrate young employees into the team and inspire them to work hard and achieve great things.

Caring.

Millennials have been proven to care more about each other and the environment than older generations, which will be a major benefit for a new business that wants to remain more eco-friendly and cost-effective. Because going green doesn’t just save the planet, it saves on the pennies too!

In truth, the only thing holding back many millennials (and their generation Z cousins) from becoming entrepreneurial masterminds is a lack of finances. In one study, 42% of millennials said the primary reason they haven’t started their own business is a lack of funds. With so many also coming straight from university, they will also have an obscene amount of student debt to contend with.

However, with their sharp focus, strong moral compasses and decidedly keen technological minds, they might just be the generation that gives entrepreneurship a good name.

from Young Upstarts https://ift.tt/2xgERIS via website design phoenix

A Millennial’s Guide To Financial Planning

With average rent prices going up and salaries remaining stagnant, it’s easy for Millennials to think that financial planning is simply a pipe dream. However, despite the abundance of economic hurdles, there are still clever ways for Millennials to invest in the future without overly taxing their wallets.

From innovative tech solutions to a bit of good, old-fashioned budgeting, developing a stronger financial portfolio is more accessible than many would assume. 

Leveraging digital solutions.

If you have access to a smartphone and are looking to get more serious about financial planning, it’s as simple as turning to your app store. Lately, there’s been a surge of applications and services that are dedicated to smart investing and boosting returns. For the tech-savvy, there are apps such as Robinhood that facilitate low-risk crypto and digital currency exchanges without needing to navigate a complicated exchange market or even fully grasp the concept of the blockchain. 

Tired of seeing uneven numbers in your bank account? Acorns, a popular investment application, has a suave solution. Instead of wondering about the “spare change” on all your credit card purchases, Acorns allows you to round up. Say you stop by a convenience store and your total comes out to $4.85. With apps like Acorns, that $4.85 automatically processes as a $5.00 purchase and invests the remaining change into a diverse portfolio. You can also set recurring monthly contributions and choose to multiply your roundup for even greater dividends. An added plus: They forecast your growth potential, allowing you to see how your investments could mature. 

Condense your monthly payments.

In this day and age, there seems to be a service for just about everything. From companies like Birchbox which send cosmetic samples on a monthly basis to recurring memberships which might not get that much use, it’s easy to get sucked into the “low monthly fee, high annual payment” trap. Sure, you might enjoy spending time at the gym on personal training, but do you really need to fork over a fifth of your paycheck for it? 

While many monthly services seem like they’re well worth your investment, it’s important to leverage your cost versus usage. If you’re not feeling as though you’re getting your money’s worth, axe it. Sure, you may be eagerly anticipating the final season of the latest hit show, but if that’s all your Netflix membership is worth, you may want to reconsider the monthly payment, especially given their ever-increasing prices. Though that extra 12 bucks a month might not seem all that impactful, it adds up. 

Likewise, it’s important to weigh out all monthly expenses including rent, utilities, and even your car. Be sure to plan your budget accordingly before a visit to your favourite car dealership in Manchester, CT or any other town. Knowing how much money you can spend before going to the dealership will help you determine the best car option for your financial situation, allowing you to save as much money as possible.

Explore workplace options.

For many individuals, opting into a 401k plan seems a touch unreasonable, but ultimately, it can be worth it even if your current career path doesn’t seem like a long-term placement. In many cases, even if you don’t think of a 401k as a consistent option, it can easily be rolled over into an IRA account. That way, you’re able to leverage employer match easily without feeling as though that investment is going to waste. As for your paycheck, the added deduction isn’t noticeable for the most part. 

Nowadays, financial planning isn’t as simple as having a dedicated savings account. It requires more thought, insight, and preparation. Plus, with a wealth of options available to Millennials, it can be easy to get a bit overwhelmed. Luckily, with a bit of planning, research, and prior knowledge, modern financial planning doesn’t have to be as inaccessible as it once seemed. 

from Young Upstarts https://ift.tt/2XwXE1h via website design phoenix

New Entrepreneurs – Who To Seek Advice From

Planning on starting your own business? This can be incredibly exciting as a new entrepreneur but it can also be a daunting experience as you will not know what to expect. No amount of online research can prepare you for what lies ahead and there are sure to be a few challenging days in addition to great ones.

One of the most important steps that a new entrepreneur can take to avoid common mistakes and to lay the foundation for a successful company is to seek advice from experts. There are a few different experts to approach who will be able to help you to hit the ground running.

Industry Insiders.

The state of the industry will have a direct impact on your success. You could have a great product/service but if the industry is in decline then you will struggle to succeed. Find an industry insider to learn what the state of the industry currently is like and what is expected to change in the coming years.

Your Target Customer.

It is also a smart move to speak to your target customer. This will help you to get a better insight into what their wants and needs are so that you can better serve these needs. Discuss with them what you plan to bring to the table and seek feedback.

Other Entrepreneurs.

Speaking to more experienced entrepreneurs can be daunting when you are first starting out but it is highly valuable. They will be able to give you advice, help you to avoid making common mistakes and could even serve as a mentor for you.

Financial Advisors.

Being intelligent with your money is critical to success in the world of business but this is an area which confuses many people and can be very easy to go wrong. Speaking to financial advisors like Downing can help with obtaining the funding that you need to get the business up and running as well as help you to run a cost-effective business operation so that you can maximize profits.

Marketers.

It is impossible to succeed as a business if you do not market your company effectively. Speaking to marketing specialists will help you to identify the best ways to promote your particular business and how to compete in a competitive marketplace. This should help you to raise awareness and get people interested in your brand from the start.

If you have plans to launch a business then you should speak to experts like these before you get the ball rolling. This can help to determine whether it is a smart idea, it will help you to avoid common mistakes, you could make helpful contacts and learn everything that you need to hit the ground running and build a platform for you to go on and find success.

from Young Upstarts https://ift.tt/2Jm9kev via website design phoenix

What Are The Best Cities For The UK’s Young Entrepreneurs?

Some might say that there’s never been a more turbulent time to be a young entrepreneur in the UK. After all, it seems that every week there is a fresh news story that details how Brexit uncertainty is pigeonholing enterprising minds and their ventures, so it’s a tough time to strike out and make a success of things. Is there a way to meet the challenge head on?

Yes, there is, and it’s largely down to location. If young entrepreneurs pick the right UK city they could situate themselves and their businesses in a very beneficial spot indeed! But where are these places?

Consequently, here’re the best cities for the UK’s young entrepreneurs:

London.

London is hardly a surprise feature on this list. Nevertheless, the capital still has plenty of surprises in store. While it’s home to the headquarters of many multinational conglomerates, it’s also a startup haven, with many budding businessmen and women planting their roots here. It’s where their competitors are, and where the markets are strongest and busiest.

England’s capital is more fast paced than most places, and the universities play a role here. Every year thousands of graduates are let loose on London eager for work and housing, so there’s a lot of fresh talent roaming around. However, talented graduates may flock to other areas as the younger generation risk being priced out the capital. There’s a gruelling competitiveness and toughness here like nowhere else, which means only the strongest startups – and entrepreneurs – succeed.

Birmingham.

Birmingham is in the West Midlands, which means it takes up a central position in the UK. This gives the second city the advantage of being efficient for rail travel, boasting short times and quick results. Do you still need to get to London for the occasional meeting? Well, the new high-speed rail network HS2 can get you from Birmingham to London in a mere 49 minutes.

It would be great to say that businesses are never cut off in Birmingham, and that it’s the city of connections. However, that would unfortunately be a lie, because while the rail service is great improvements are certainly needed where airports and traffic are concerned. Their airport links aren’t quite satisfactory just yet and drivers are frequently congested on the roads, so Birmingham based businesses may struggle in these areas.

Brighton.

Brighton has budding tech startup arena, which means it’s the perfect place to situate such a young enterprise. The industry there is booming, with competitors and exciting talents building up a strong and sturdy market for all things tech. Housing is affordable, which means no one’s going anywhere anytime soon; it’s full throttle innovation all day, every day.

However, Brighton’s gift is also it’s curse, to a degree. While a tech startup will undoubtedly excel here, many other startups would likely flounder and fail somewhat. This is because Brighton’s reputation has almost begun to define it absolutely as a tech startup haven, leaving little room for anyone else. Other startups will likely need to situate themselves elsewhere.

Conclusion.

No city is perfect, especially when it comes to young entrepreneurs finding their way. Each has pros and cons, but with a keen analytical eye and a refined strategic mind, the right startup can be set up in the right place at the right time.

from Young Upstarts https://ift.tt/2RCm6Ja via website design phoenix

Why Digital Transformations Fail — And What To Do Instead

by Tony Saldanha, author of “Why Digital Transformations Fail: The Surprising Disciplines of How to Take Off and Stay Ahead“

We’re in the fourth industrial revolution now — and it’s wrought plenty of casualties. Consider the retail apocalypse: countless iconic chains are facing bankruptcy or simply going under, including Sears, Mattress Factory, Brookstone, Rockport, Nine West, Toys “R” Us, and more. Investopedia called 2018 the year of retail bankruptcies, but digital disruption is happening in every industry. And the reality is that no matter what field, companies will either adapt or perish.

Digital transformation may start with automation or digitalized platforms, but it’s far more complex and all encompassing. It fuses the physical, biological, chemical, and information worlds, creating massive new opportunities in every area valued by society. But 70 percent of digital transformations fail, and one key reason is that organizations don’t define and execute the right steps to take off and stay ahead. To make a successful digital transformation, companies need a clear roadmap to progress through five distinct stages. Only then candigital become the “living DNA” of your enterprise.

Knowledge is power. Here are the five stages of digital transformation. Use them to chart what phase of the digital evolution your company has reached — and plot the course for what needs to happen next:

Stage 1. Foundation.

At the Foundation stage, enterprises are actively automating internal processes, such as selling, manufacturing, or finance — using SAP, Oracle, Salesforce, or similar platforms. This is more automation (also called digitalization) than transformation, but it provides the digitalized foundation necessary for future evolution. Automating processes using digital platforms is necessary to convert manual effort into data. But again, it’s not transforming:the company does not have any digitally disruptive products, customer relations, or operations.

Stage 2: Siloed.

At the Siloed stage, individual functions or sections may start to use disruptive technologies to create new business models. As an example, the manufacturing function may have made progress on using the Internet of things to drive major changes in the way they manufacture or manage logistics. Or the finance manager may have heard about blockchain, and transformed the way they do intercompany accounting across countries. Alternatively, a business unit within the enterprise may have used technology to create a completely new business model, such as selling direct to consumer as opposed to via retailers. But these efforts are siloed: there is no overall company strategy driving transformation.

Stage 3: Partially Synchronized.

During the Partially Synchronized phase of transformation, the enterprise leader, owner, or CEO has recognized the disruptive power of digital technologies and defined a digital future state, and the organization itself has started rowing in the same direction. But the enterprise has not completed transforming to a digital backbone or new business models, nor has the agile, innovative culture become sustainable. A good example of this is GE’s digital transformation, which ultimately stalled at this stage. CEO Jeff Immelt defined his vision for a digital industrial future, and the entire firm started to move toward a single digital strategy. But the new digital business model never matured enough to develop strong roots. Still depending on a mix of old and new business models, companies aren’t fully invested in a complete digital transformation — and are therefore incapable of fending off more nimble, digitally native competitors.

Stage 4: Fully Synchronized.

Stage 4 marks the point where an enterprise-wide digital platform or new business model has fully taken root. But this is a one-time transformation. The company is still just one technology (or business model) change away from being disrupted. The only way to survive continuous disruption threats is to make digital capabilities and an agile innovative culture an ongoing, integral part of the enterprise, not a momentary shift. It’s not enough to be digitally optimized for the moment.

Stage 5: Living DNA.

At the Living DNA stage, the transformation becomes fully synchronized and ongoing. The company maintains ongoing industry trend leadership because it is disciplined in constantly innovating and setting industry trends. It’s not just a market leader; it’s a disciplined innovator that is constantly leveraging digital: operating fully digitally, with a digitally savvy workforce, the ability to provide hugely personalized creative value to customers, and the most innovative business model in the market. This is when digital becomes part of the enterprise’s DNA.

Digital transformation is the modern-day fight to survive the existential threat of digital disruption caused by the Fourth Industrial Revolution. Half the companies on the Fortune 500 list will turn over in the next decade — and the average lifespan of an S&P 500 company has plummeted from sixty years in the 1950s to twenty years today. The stakes could not be higher — which is why so many entrepreneurs, boards, executives, and public organizations are actively consumed by this issue. But companies that know the roadmap can embark on a disciplined journey, and attain true digital transformation.

Tony Saldanha is president of Transformant, a consulting firm specializing in assisting organizations through digital transformations. He is an advisor to boards and CEOs on digital transformation, a sought-after speaker, and a globally awarded industry thought leader. His new book is “Why Digital Transformations Fail: The Surprising Disciplines of How to Take Off and Stay Ahead“.

from Young Upstarts https://ift.tt/2IPAbQY via website design phoenix

Reasons Your Business Needs An Online Presence

We all know at least ONE person for whom we can vouch for their proficiency without batting an eyelid. Some of us would even swear that if this hairdresser can’t style your hair to perfection, no one else can! Yet, why does it seem like these ‘excellent businesspeople’ are finding it impossible to scale up or increase their clientele?

Or could it be, that YOU are that person?

Whether it’s your friend who needs extra visibility, or yourself; one crucial step to growing as a brand in this digital world is to establish a strong online presence. If you’re still wondering what is being online? brings to the table that traditional word-of-mouth marketing cannot, then you need to read on, while we all get educated, right?

Exposure to the Right Target Audience.

By creating an online presence for your business, you increase the chances of people who are looking for exactly the sort of services you provide, to find you. More so, when you state your location, people within that vicinity can find you and patronize your services.

Social Engagement with Clients.

One perk of your business being ‘alive’ on the web is the extensive potential it affords you to both meets with new clients and engages socially with existing clients. This move usually exudes warmth to your customers- and makes your business feel like home! Often, a new client who has been interacting with your business page feels like no stranger when they get into the same room with you because the virtual world has become so real! Pictures and videos make moments easier to capture (e.g. a new hairstyle you just made on a client or a breath-taking dress made by you) and resonates well with lots of clients. It encourages people who then have similar needs to try out your services.

Online components make businesses grow at an astonishing rate because of the merger between people’s work and social lives. Now, you can, for instance, make use of influencer marketing, where you pay someone who has garnered enough influence on social media, say Instagram; to market your products by either talking about them or using them. You can learn more about influencer marketing at tapinfluence.com, as this is one potent means of increasing awareness and patronage for your brand.

It Makes It Easy to Showcase New Products and Services.

When you add on a new product or service to your delivery range of products/services, one quick way to test run it, or know how acceptable it’d be to your clientele, is to display it online. Metrics do not lie, and you can see via the number of views or post engagement on social media/ on your website if the vibe is positive or not. That way, you can make all necessary adjustments before launching a new range of products or services, tailor-made to fit your clients’ needs.

It Provides Better Awareness of your Competition.

As many businesses are taking over the digital landscape, you will find players within the same space as you on the web, and your goal is to place your own services at a point where clients reach out for you, before reaching out for others. Putting your business online helps you compare your metrics with that of other businesses, and gives you insight on what to improve, so as to edge out your competition.

Influencer marketing also helps in this regard and can be the game-changer for your brand. You can find more on influencer marketing at tapinfluencer.com.

Give your business a better chance at growth by setting up an online business.

from Young Upstarts https://ift.tt/2FAgdr8 via website design phoenix

Artificial Intelligence And The Modern Workplace

by Prince Kapoor

When it comes to Artificial Intelligence, or AI for short, most of us first became aware of the term back in the 70s and 80s through sci-fi movies, promising us the dream of automated robots, ‘thinking’ independently, and bowing to our every whim. Slowly, as the technology evolved from its infancy, we started to see aspects of AI infiltrate the entertainment industry, mainly in the form of video game enemies or opponents, providing us with sterner tests as the games became evermore advanced through the decades. This is where most of us would have first become aware of the term, with little to no exposure to it in any other areas of our life.

That is, until recently. AI is now a hot topic amongst the tech giants of the age, with Google, Facebook, and Apple all pushing artificial intelligence to the forefront of their respective businesses in a multitude of different ways. But AI is not only going to help the tech giants know in advance who you are likely to vote for, or what your next purchase might be, in fact, AI is about to enter the workplace in a big way, and in some areas, it already has.

AI is here to aid the worker, not replace them.

One such area is in HR (Human Resources), where those who work in the department often find their time bogged-down with mundane, repetitive queries that can distract from some of the more important, difficult tasks that need to be addressed. To ease the strain on the HR department, apps such as Spoke can take the helm when it comes to pointing staff in the right direction for applying for annual leave, getting a family member added to their insurance policy, or reporting any small inter-office issues. Available to employees through Slack, email, and even SMS, apps like Spoke point those who need answers in the right directions, taking the workload off an increasingly busy department.

Helping to smooth the movement of data.

Those of us who commute to work in a busy city will know only too well the problems of congestion. For the workers of the future, congestion on the roads will not be the only place they experience problems of overcrowding, as the internet is fast becoming a place where the sheer volume of data being moved around is causing problems. More devices result in more data, and in a world that shows no signs of relenting from its data addictions, a new strategy is needed to deal with the deluge of information currently flying through our data pipes. This is another area AI is looking to infiltrate, and improve. Whereas most data currently travels the shortest distance between destinations, AI will help route internet traffic through less congested routes, eventually speeding up the efficiency of the entire internet. This won’t be happening overnight, but slowly and surely internet traffic is being routed more intelligently that it has been over the last few decades.

Helping us to work smarter.

Job training is another area where AI will help improve the workplace, but perhaps not in the way many people are thinking. When AI is discussed in the same vein as jobs, many will anticipate the removal of the human workforce, replacing it with intelligent robots that work longer hours and demand no wages. While this will be true for some jobs, others are actually looking to use AI in a way that aids the human workforce, rather than replacing it. Take, for example, the customer service industries. The short-term future of customer service will be a hybrid of humans and AI working together, where the human interacts with a customer whilst an AI application listens in on the call and advises the customer service rep if they are talking too fast, or have forgotten to mention something that would be helpful for the customer to know. This sort of symbiotic relationship between AI and workers will be seen everywhere in the workplace of the future, with technology aiding workers, rather than simply replacing them.

With the power of AI increasing at an amazing rate, expect to see more and more areas of our workplaces being aided by these technological advancements. Whether it is reminding a customer service rep to slow down their speech, routing internet traffic through less busy exchanges, or collating vast amounts of data into a useable form, AI is about to become part of the furniture in workplaces across the globe. As it does, the fear associated with the technological revolution should fade, while the potential benefits that AI can deliver will start to drive the current workplace to become the workplace of the future.

 

Prince Kapoor is a seasoned marketing analyst and blogger. With his skills, he has been helping fellow marketers and brands worldwide.

from Young Upstarts https://ift.tt/2YhPVkS via website design phoenix

Future-Proofing Your Business With Cyber-Security & Risk Management

60% of small businesses close shop six months after a cyber-attack. No, the problem is not that most haven’t been investing in cyber security tools. The issue comes in how they prepare for the grey areas that come with business growth and shifts in the threat landscape.

For some of these businesses, cyber-attacks come as a shock. Ideally, the only way you can build a sustainable future for your business would be through getting ready for what the future holds. While it can be borderline impossible to cater to all grey areas security-wise, it pays to try your best to face your future threat landscape with some confidence.

Here is how to future proof your business against ever-evolving cyber threats:

Establish an Effective Risk Management Plan.

A risk management plan helps to improve the visibility you have into your threat landscape. It points out the number of risks that you face, the best ways to cater to them, and whether the risk treatment options you chose are working. To start, you will create a list of your current and future cyber-security threats.

Next, measure the potential impact that they can have on your business and use a risk assessment matrix to rank the different risks. Not only will this help you in prioritizing the risks, but in also identifying the best treatment options for them in line with your scarce business resources. However, a risk assessment plan is not a one-time project; you will need to keep on monitoring it from time to time.

In case your business’ orientations towards certain risk factors changes or new threats arise, you should be ready to update it accordingly. Additionally, everyone in your organization should understand the role they play in managing the risks. With a top-down approach towards cyber-security, it becomes easy to eliminate the chances of human error.

Why Risk Assessment Matters.

1. Improve Your PR Approach.

Going through a cyber-attack can be a PR nightmare. Other than reducing customer’s trust in your business, it can lead to the loss of critical investors. It might also make it tough for your business to proceed with working with security-conscious vendors. With a risk management plan by your side, it becomes easy to identify the risks you face and prevent them from causing any PR issues down the line.

2. Using Resources Effectively.

When building a robust cyber-security framework, huge budgets aren’t always synonymous to a great security posture. Ideally, you need to invest in the right tools for the right purpose, especially when resources are scarce. For instance, a small organization of twenty employees might not benefit from an access control system as much as a larger organization would. The trick is identifying security assets that will generate the best ROI and use them effectively.

3. Improve Internal Communication.

When cyber-calamities occur, chaos will ensue in your organization. Without the right preparation, it might be possible to make the situation worse through poor communication. The individuals in IT should communicate with the executives and PR teams to help deal with the threat.

On the other hand, executives need to understand their roles and know when something needs to be done. A risk management plan helps you to choose risk treatment options that communicate the best way to deal with threats. As a result, when disasters occur, everyone can commit to their roles entirely. It also becomes easier to pass on messages on the progress of dealing with the threat at hand, which can be crucial in protecting your business.

4. Improve Employee Awareness.

With 90% of cyber-threats coming to life due to human error, lack of awareness is a massive part of the problem. An employee that doesn’t know how to differentiate between phishing attacks and genuine emails is likely to open the former. The trick lies in your entire IT governance and how you train employees. When you have a risk management plan by your side, it becomes easy to identify the key training areas and how to go about it.

Be Ready to Follow Regulations.

Rules such as the GDPR are slowly changing the cyber-security landscape. They challenge how businesses deal with their data and have the interest of key stakeholders at heart. Since more regulations are bound to come up in the future, it is ideal to ensure that your business is compliant.

Of course, most of these regulations only outline the threshold security requirements, something that a company that has an effective cyber-security framework can comply with quickly. However, it still counts to have an elaborate plan on how to handle compliance. For instance, having a specific department for dealing with it can save you from the hefty fines of being non-compliant. Even better, complying with the changing regulations makes your business more attractive to work within the eyes of both clients and investors.

Invest in Data Analytics Tools.

Business data is a cyber-security gold mine. It can portray patterns that cannot be identified by merely brainstorming the security issues that your business faces. For instance, access control data can help you unearth any insider threats that might occur right under your nose. Additionally, monitoring log data can help identify security loopholes in your applications, which would otherwise be quite costly.

Invest in data monitoring, and analytics tools to be steps ahead of any security threats. Remember, each second counts when looking to protect your business’ reputation. You should also consider hiring professionals in the field of cyber data analytics to improve your chances of success.

Invest In the Cloud.

Although cloud computing has gone mainstream in the business world, some businesses are still skeptical about using it to run their business. For some, the fact that they already have well-established data centers in-house makes cloud migration tough. However, the security risk that lies in these in-house data centers is quite high, from system breakdowns to insider threats. Even worse, it costs a lot to run them with most businesses needing to invest in cooling systems as well as renting spaces for their servers.

The good thing about the cloud is that you can access your data from anywhere at any given time. Even better, you can beef up your security concerning who can access your sensitive data. As for business growth, cloud systems are entirely scalable; you can upgrade or rollback subscriptions with regard to your business needs. Lastly, you can always embrace the hybrid cloud to enjoy the best of both in-house server and cloud environments.

Focus On Employee Training.

Investing in state-of-the-art security tools will mean nothing as long as you haven’t adequately trained your employees. When all hands are on deck, cyber-security becomes a walk in the park. However, how you train your employees is equally as important as the content of the training sessions.

It will be counter-productive to take your workforce through long and mundane PowerPoint sessions. Instead, improve the learning experience through utilizing gamification, micro-learning, and e-learning, among other advances in employee training. You should also diversify your sources of training content to improve the quality of the training sessions.

The security posture of your business will determine its sustainability. As more threats are thrown at it, you should be ready to circumvent them. Consider the tips above to fortify your cyber-security posture.

from Young Upstarts https://ift.tt/2IQnd5o via website design phoenix