What Is AWS And Why Is It Brilliant For Startups

AWS or Amazon Web Services is a revolutionary, ultra-secure, cloud services platform. AWS officially launched in 2006 and provides scalable compute power, content delivery, database storage and more to businesses of all sizes all across the globe.

With dozens of physical data centers across the world, AWS customers enjoy unheard of reliability that is resilient and not prone to failures often experienced by individual servers or data centers.

Your AWS journey begins in the AWS Marketplace, which is essentially an online store where you can pick and choose which web services you need.  Some of the services you might choose include:

• Application hosting
• Web hosting
• Data storage and backup
• Content delivery
• Database software and solutions, and more

If this is sounding complicated and overwhelming, don’t worry. There are highly qualified consultants and support personnel who can walk you through this process. Enlisting the help of AWS Consulting Services is a great first step. These services can provide valuable education and support to get you started. Many even offer ongoing mentorship with AWS.

How Will AWS Help My Startup?

Scalable Flexibility.

It boils down to flexibility. By utilizing the AWS portfolio of services, startup businesses are free to access the state of the art technology without having to foot the bill. AWS uses a flexible “pay as you go” model that does not include upfront costs or long-term contracts. This is ideal for startups with minimal capital at their disposal. With AWS, you have the freedom of on-demand scalability for the inevitable fluctuations that come with startups.

No Equipment Costs.

In the past, new businesses would give their best guess as to what their hardware needs would look like and then invest huge amounts of money on technical equipment they may or may not end up utilizing. Thanks to AWS, those days are over.  Not only are you able to purchase services (not equipment), you have consistent pricing and the ability to experiment and make changes without the fear of over-spending. This is huge for innovation.

Security.

New businesses want to start strong, and developing a solid reputation is a huge part of that. When you choose to work with AWS you have access to the highest level of security certificates and the industry’s most recognized audit reports. Your data and your customer’s data are safe and secure due to AWS’s multi-layered operational and physical security measures.

AWS is ideal for a startup. It provides a comprehensive portfolio of services with no risk. With fewer upfront costs, more and more people are able to build their companies and realize their American Dream. Entrepreneurs are flocking to this one of a kind service as a way to enter the market and build their business from the ground up without the fear of high-priced tech expenses.

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7 Top Reasons Why Your Startup Should Offer Online Payment

Only few people are venturing in startups. They don’t follow traditional business models; instead, they try new and innovative ways to offer solutions to a problem they aren’t even sure anyone would want.

As a startup owner, the ability to provide customers the convenience of paying for your goods and services online has a lot of advantages. You can never go wrong when investing in a well-thought out website for your startup. When your site has an online payment option, it demonstrates professionalism, increases reputation, and boosts the credibility of your business.

Collecting money through online payment is not as complicated as you might think. It generates a desire to give your customers a hassle-free experience, which will definitely benefit you in the long run.

Here are five top reasons why your startup should offer an online payment option:

1. Efficient.

The speed and convenience of online payment enables consumers to purchase from your business any time, allowing your business to run 24/7 for the whole year. Your customers can pay anywhere using any device, without having to visit your physical store. Your money also arrives on time, since online transactions are usually cleared after one or two business days, which is vital to your cash flow.

2. Your sales will increase.

Building customer loyalty by giving them quality experience when they buy your goods will generate more revenue. As this happens, word of mouth on how they appreciate the way you effectively conduct your business will spread, inviting new customers to try out your products.

Most buyers are more likely to spend impulsively with the lure of instant payment process using their credit cards. They are also more inclined to purchase more than one item, knowing that these will be delivered to them in the comfort of their homes.

3. Reduced risks.

With multiple security layers to prevent fraud, one of the best advantages of paying online is that yours and your client’s money are secured. Online merchants usually use a bin database to validate credit card payments, which protects both the business and buyers in the online marketplace.

Errors are also eliminated when you say goodbye to manual processes with the help of online invoices that speed up payments. Multiple layers of protection are also added to processing transactions so that your client’s credit cards won’t be hacked easily.

4. Fewer transaction costs.

Paper invoices and statements cost money. You also don’t have to pay someone to process these payments. Your customer’s expenditure will be reduced since they don’t have to spend time and money going to your physical store to make a transaction.

5. More people are now using digital wallets.

A lot of individuals realize the burden of carrying cash and even their credit cards these days. Digital wallets or e-wallets allow people to make online payments without accessing their bank accounts.

Fees like these come with ease and special offers, such as cash backs and added discounts. With the rise of technology, smartphones already have e-wallets automatically installed. There are apps that you can even download for free which offer this kind of service.

6. A marketing must-have.

Aside from having an awesome content and design, customers get lured by the convenience of a payment gateway available in your startup’s website.

The one click, one pay tactic makes it very irresistible to buyers, as this is the most convenient way to purchase things. Influencing people to use this method of payment will turn their mindset from anxiety or lack of trust of paying online, to making it the norm.

7. Online payments can accept any currencies.

If you embark your business on a global scale, expect to have a lot of international customers who will be willing to purchase from you with a few clicks. Through the use of online payment, their money is automatically converted in the current exchange rate without hassle in both of your ends.

Conclusion.

Online payments can help your startup save time, and your clients don’t have to put their maximum effort when purchasing. By doing so, you’ll be able to gain their loyalty and receive a positive feedback. Your revenue will also exponentially increase when consumers are encouraged to buy, bringing more awareness to your business.

The benefits of offering online payment outweigh the cons. You can throw cost-saving deals that can influence customers to buy items on your website and increase your sales — giving consumers a sense of relief that they can purchase your products whenever and wherever gives your startup a competitive edge.

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Why More Isn’t Always Better For Small Businesses

by Jeff O’Hara, author of “Have Fun, Fight Back, and Keep the Party Going: Lessons from a New Orleans Entrepreneur’s Journey to the Inc. 5000“

When we first started our corporate events business, we jumped at every new lead that came in the door, hungry for revenue and resume building opportunities. This was great in the short term, because we didn’t have anything else competing for our time. But time is a precious resource, and one that is not renewable. As our company moved from start up mode into growth mode, our lead-chasing  became a hard habit to break. After all, who wants to turn away business? And all of our clients loved us!

So certainly more loving clients is a good thing, right?

More is not always better.

More of the right kind of clients is a good thing. The kind of clients that drain your resources – especially your time – and don’t provide the relative amount of profitability are a hindrance on your growth. And when you are growing fast, your time and your human capital are at a premium. Continued growth will depend on how well you steward these resources of time and human capital.

In our business of corporate and incentive travel, an enormous amount of labor goes into creating a sales proposal that is customized for each client’s specific objectives, and in many cases that cost isn’t considered when the client looks at your value proposition. They look at what we charge for full service compared to what they can piecemeal on the Internet. Certain segments of the market are high maintenance and low margin, and others understand the value that business events companies bring to the equation and understand the costs involved with that.

I made a decision to identify the market segments that understand our value and are willing to pay for it, and to focus our sales efforts there. We would not pursue any players I identified as low margin, and, if they came looking for us, we would politely decline to bid on their business. This was not always well-received. However, in my view, if I approach a provider and they tell me they don’t want or cannot take my business, they have saved us both time.

Here are just a few ways I use to identify whether a client is probably the right client for our business:

1. Client knows what they’re looking for.

Clients who know what they need in a service provider will do research before sending a request for proposal (RFP), narrowing it down to two or three companies at most that are the best potential fits for them. When that list is longer than three, you know they have not done their due diligence and they may simply be looking to do just that in speaking with you. That’s not a good use of your time.

2. Client is open to hop on a phone call with us.

Every event is unique, and the better our business understands your goals and objectives, the better our proposal will be. If you can’t take thirty minutes to discuss it with us, you are likely just shopping price.

3. Client’s budget is realistic.

This speaks for itself. We are a high-level service provider, and we will never be the low-cost provider in any bid situation. We are wasting our time with any work spent in the low end of the pool.

4. Client’s deadline to create a proposal is realistic.

A quality proposal requires sufficient time for the provider. Clients who don’t understand the process or don’t respect our time may not be good partners in the short or long term.

While these markers are specific to my business, there are some sales universals that translate across industries. Salespeople hate saying no to anybody, and they naturally want to win every opportunity that comes in the door. But it is worthwhile to analyze how costs play out in the sales process, and to condition your team to the concept of sometimes saying “Thanks, but No Thanks”. The fact is, every minute they spend on a low-profit group is a minute they are not spending on a high-margin group.

Ensuring your sales team is aligned with your goals may require a change in your incentive plan.  In our case we added a metric to incentivize client profitability in addition to top line revenue. Voila! The team’s focus was clear so that when we had to reject a client, we were not derailed for long. The only thing you cannot get back once it is lost is time, so invest your time with the preciousness it deserves. Lead your team to understand this, and you will see your profitability grow.

 

Jeff O’Hara, author of “Have Fun, Fight Back, and Keep the Party Going: Lessons from a New Orleans Entrepreneur’s Journey to the Inc. 5000“, is president of PRA New Orleans, a business event management firm creating unique experiences for corporate groups.

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Small Business Vs Large Business: What Makes Large Business Different From Small Ones

Usually, we think what differentiates small business vs. large business are their sales figures and number of employees. This is right to some extent but there are a few other things that differentiate them.

In this post, we are going to talk about them.

1. Investment in Technology.

Usually, we see big firms do not flinch from investing in state-of-the-art technology. The one reason for the same is they are aware of ROI (Return on Investment) that they will get out of their investments.

Being a small business owner you can upgrade the followings technologies at your place.

Hosting Solutions.

According to experts, to enhance the performance and security of their online business, small to mid-sized businesses should upgrade to robust hosting solutions. As with a poor web hosting, you will often encounter issues like downtime, security issues, slow loading speed, it is better you look for a hosting service tailored to boost small businesses right from the beginning.

Try Hosted Email.

This suggestion comes from George Heimel, chief technology officer at Square 360. According to him, a hosted email whether it is a Google suite or exchange provider offers a highly stable service than non-hosted email services.

More Focus On Security.

Nowadays, security is a primary concern for every entrepreneur – thanks to security attacks happened during the last few years. Whether it is your personal information on an email or confidential information of your customers on your website you can’t take it back seat.

2. Marketing Strategy.

Another big difference between small business and large business is both follow different ways when it comes marketing. Marketing budgets, creative approaches, communication techniques differ hugely.

Large-size companies spend up to six figures to create ads to build name recognition for the products and service while small businesses take a completely different approach. Their marketing plans have to bring adequate conversions to compensate for the expenditure.

Like big companies, they can’t spend a big amount on promoting their services on electronic media, print media or Google Adwords.

What you can do as a small business owner for marketing your services:

– Promote your brand via Facebook advertising. According to Facebook, more than 2 million small to mid-sized businesses advertise on Facebook. This inexpensive way can be your big weapon to grow your business.

– Google My Business (GMB) can be another effective tool to target a local audience. Listing your business on GMB can offer your business a good exposure locally.

– You can focus on content marketing. By distributing relevant and valuable content you can attract the potential customers and drive beneficial customer actions.

3. Connection With Audience.

Small business vs. large business – this match can’t be limited to just investments and marketing strategies. It is crucial to see what approaches both types of entities take when it comes to establishing a strong connection with the audience.

It is seen that large organizations take every possible step to reach their target market. They make use of their funds to partner with other brands and share an audience. They use targeted advertisements on different platforms.

Small businesses that are running out of a budget can follow the below methods to connect with their audience.

– If you are a small business, you can make a referral system to boost your networks. You can offer the referrer a portion of your profit.

– Contact bloggers and Vloggers of your business niche who have a large following.

Final Words.

In this post, we tried to differentiate small business vs. large business on the basis of a few points and disclosed tips that can help small businesses grow big.

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How Cody Moxam Predicts AI Could Influence The Healthcare Landscape

Artificial intelligence once seemed like something unique to science fiction, but it is actually a decades-old technology that multiple industries employ today. Recent developments in machine and deep learning have made it more effective than ever, and it’s busily integrating itself in the medical world. Biochemistry students like Cody Moxam from the University of Dallas (you can check out his home page here) are excited about the possibilities it poses—and wary of the caveats.

So, what are some ways AI could impact the medical landscape?

It can perform tasks humans cannot.

One of AI’s primary functions is performing tasks that humans cannot, or doing so with greater accuracy. For example, doctors could use AI tools that help them perform surgeries more efficiently than if they were operating alone, even reducing patients’ hospital stays by 21 percent. One study gathered data from 379 orthopedic operations found that patients whose procedures incorporated artificial intelligence resulted in five times fewer complications.Robots are even applicable to operations like eye surgery. Your first thought might be of androids, but this is not the case (yet).

It has predictive capabilities.

Artificial intelligence can also gather extreme amounts of data and analyze them rapidly. With its ability to think quickly, it could create better outcomes for procedures and even predict disease epidemics. It could help people manage resources more efficiently (such as anticipating future demands for clinics and emergency rooms), help people intervene earlier in disease processes, recommend specialty services, and more. When AI can aggregate data and offer projections, patients and professionals can act with the future in mind.

Improve communication.

One of the healthcare industry’s most prominent problems lies in communication. Between doctors discussing treatments with patients, nurses exchanging patient information with other nurses, hospitals interacting with insurance providers, and more, there are many places where information can be lost or twisted. The Next Web reports that “80 percent of serious medical errors are due to miscommunication between caregivers during patient transfer. AI can, and will, more effectively address these communication issues.”

AI could streamline the transference of electronic medical data. There are also apps that make it possible to schedule appointments, or even monitor patients at home and alert medical professionals if something goes wrong.

Working behind the scenes.

Many applications for AI are where patient and professionals’ journeys intersect, but the technology can make professionals’ lives behind the scenes easier, too. According to Robert Hryniewicz from Hortonworks:

“In some hospitals, data about treatment times is being processed to help predict how long a particular surgical procedure will fake, or how long an imaging device may be in use. This helps to avoid waste and improve patient outcomes by building treatment schedules that maximize the use of scarce human talent and technology resources. For example, healthcare services company Vizient is applying AI to help its members deliver cost-effective healthcare. Pattern recognition on lab and patient data can provide recommendations on how customers can improve healthcare outcomes efficiently.”

Hospitals need to manage high amounts of data, but AI could reduce their workload and improve various processes.

Are there any concerns?

While artificial intelligence could have a number of positive effects on medicine, it is also important to consider the downsides. Many doctors and other professionals, for instance, are afraid that AI could replace them. There are also privacy concerns regarding the ethics of collecting, storing, and sharing patients’ data, especially between healthcare entities without patients’ consent.

Another barrier to making AI mainstream in the medical field is that hospitals would have to invest in training their employees how to use such devices properly. Practitioners would also have to decide whether to listen to an AI machine’s advice and predictions or use their own judgment if the device’s recommendations are inappropriate or inaccurate (as smart as artificial intelligence can be, it is not faultless, and understanding how it arrives at specific conclusions can be difficult).

AI also lacks something, as of now, that only real-life medical practitioners possess: empathy. Face-to-face time between patients and physicians is one of the most critical aspects of medical practice, so leaning too much on AI could result in patients not feeling adequately cared for or professionals not fully understanding their patients’ stories. AI can do a lot, but it cannot completely replace a person in this regard.

Technology in the medical world is continuously advancing, and artificial intelligence is here and ready to make revolutionary changes — but how quickly or affordably it can be implemented is yet to be determined. How do you foresee AI impacting the healthcare industry?

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6 Support Sources For Your Startup

Sustaining a new business can be trickier than tattooing your own back in the dark (don’t try it!).

Once you’ve conducted market research, calculated demand and tested prototypes, you still need to find funding and decide which operational functions should be internal or outsourced.

And one of the worst things you can do is succumb to control-freakery and take too much weight on your own shoulders — it’s a recipe for disaster.

But fear not, because here are six support sources for your startup.

1. 5by20.

If you’re a female entrepreneur trying to get your enterprise off the ground, unfortunately you may have to overcome barriers your male equivalents don’t face.

But women’s empowerment scheme 5by20 might be able to offer mentoring and financial assistance. Run by Coca-Cola, it’s a global support network that’s constantly expanding — contact their support team to see what’s available in your location.

2. Business Gateway.

If free, expert workshops on everything from registering a new business with authorities to marketing and bookkeeping sound useful, you’ll find all the above at Business Gateway — a government funded initiative designed to level the playing field for SMEs.

Check their website for events near you — as well as the invaluable knowledge and support you’ll garner, you’ll also meet many new businesspeople in the same boat as you.

3. The Prince’s Trust.

Royal charity The Prince’s Trust has a proud track record of helping enterprising young people turn their business dreams into reality by giving them the opportunity to apply for funding and providing them with bespoke mentors.

If you’re aged 18-30 and have entrepreneurial ambitions, get in touch with them soon.

4. Chambers of Commerce.

Chambers of Commerce are operational in many European and North American nations — and for a membership fee which is usually reasonable, they allow your startup to instantly plug into a network of clients and collaborators.

Search online for your nearest chamber and give them a call to chat over your options.

5. Government funding.

Although central government is often criticised for supporting big businesses at the expense of their smaller peers, there are several government funding schemes to help launch or expand promising local companies.

Check out gov.uk for appropriate schemes in your region — there may be more on offer than you realise.

6. Digital agencies.

One of the best ways to connect with customers and build a brilliant reputation rapidly is online.

So it’s worth engaging with trusted digital marketing professionals ASAP for advice on building your website, web hosting, SEO, social media and content marketing.

And digital agencies like Scenicus and Attercopia cater for firms of all sizes — they’re worth talking to whether you’re a small outfit looking to make a mark in your neighbourhood or a brand with national or international aspirations.

These six sources of support for startups should help you set off on the right footing for sustainable success — a business problem shared is a problem halved.

Who supports your startup? Share your tips in the comments section.

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4 Ways Learning A New Language Will Make You A Better Entrepreneur

by Maloy Burman, Chief Executive Officer and Managing Director of Premier Genie

Arming yourself with the right skills is crucial in finding success in today’s highly competitive, globalized business market. One of these highly-sought skills is multilingualism.

By learning Mandarin, Spanish, or French, or taking up a business English course if you need to hone your business communication skills in this language, you will improve your chances of achieving your business goals.

Below are four ways mastering another language will help you run your business more efficiently and for you to be a better entrepreneur overall:

1. Improve your cognitive abilities.

Various studies show that learning a new language boosts a person’s mental facility. This is manifested through the following:

Enhanced comprehension – Learning a new language means discovering and understanding unfamiliar words. Since you will be picking up new words regularly, you will be constantly polishing your comprehension skills. This will help you in various ways as a business owner especially if you have a multinational workforce.

Better problem-solving skills – Knowing the meaning of new words is a good start to being proficient in a foreign language. However, you need to know how and when to use these words correctly. When you do this regularly, you will be honing your problem-solving skills – an essential ability that you will use regularly when you own a business.

Improved multi-tasking skills – Once you start learning another language, your brain will be switching between using your native language and the foreign one you are learning. This habit enhances one’s ability to multi-task, another skill that you need have since you need to wear different hats as an entrepreneur.

All these cognitive skills will help you run your business more efficiently.

2. Support your international expansion plans.

If you have always dreamt of expanding overseas, being proficient in English, the most widely used business language, is a must. However, you will be a step closer to this dream if you know the local language in the country you are targeting.

When you start making plans for opening your business in another country, knowing the local language will be a big help in understanding the important laws, culture, and practices which can significantly impact business operations. You will have an easier time following the different protocols and completing any paperwork without the need for a translator.

Once you’re up and running, you will be communicating with a lot of people who may not know English or the language you are proficient in. This won’t be a big problem for you if you know the local dialect.

Lastly, it is also worth mentioning here that if you communicate your company message in the local language, your audience will regard you as more trustworthy, professional, and respectful.

3. Strengthen your empathy.

Learning a new language also means delving into another culture. Once you have a good understanding of this new culture, you will be more empathetic towards the people who speak this language.

Empathy is an important trait that will help you as you expand your business to a foreign country. With this quality, you will be able to understand your target audience, their needs and wants.

In addition, empathy will help you deal with all your current and potential customers or clients. With your ability to put yourself in their shoes, you can make the necessary changes and improvements in your products or services, marketing strategies, pricing, and other key elements of your business.

All of these will play an important role in the growth and success of your business.

4. Develop your network.

Finally, once you become multilingual, you can communicate with more people, not just from one or two countries. You will be able to reach more people in different parts of the world.

Keep in mind that the more languages you know, the more people you can build a relationship with. These people can be your potential customers or clients, investors or business partners, and even possible mentors.

Whether you will be building your network online or in-person as you travel the world, knowing another language will help you achieve this goal.

If you’re looking for something to invest in to improve your business and your role as an entrepreneur, you won’t go wrong with taking up an English language course or any language you think is worth learning.

Whether you take up an online or classroom-based course, you won’t have to spend a fortune, but the returns will definitely help you become a better entrepreneur.

 

Maloy Burman is the Chief Executive Officer and Managing Director of Premier Genie. He is responsible for driving Premier Genie into a leadership position in STEM (Science, Technology, Engineering and Mathematics) Education space in Asia, Middle East and Africa and building a solid brand value. Premier Genie is currently running 5 centers in Dubai and 5 centers in India with a goal to multiply that over the next 5 years.

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