The Next Entrepreneurs And Startups

The most successful entrepreneurs have always used the realities of the environment around them as a basis for exploring opportunities and developing new ideas that actually provide value for people and are structured to create profit. Entrepreneurs are currently looking at an environment that is unlike any other seen in the history of commerce, while leaders of businesses and startups have to think on-the-fly to learn what potential customers need most right now.

Everyone is attempting to analyze the long-term effects of the current changes on human behavior. In many ways it is a tall task, but the entrepreneurs who can successfully navigate the complexity of the new economic world will discover ways to help their customers and achieve their business dreams.

New business realities present unique opportunities for startups.

If there is one lesson that has been learned the hard way by COVID-19, it is that almost every industry and every type of work is ripe for disruption. Even established businesses that thought their practices were set in stone have had their outlooks upended by the pandemic, and these changes are likely here to stay.

While the lessons have often been harsh, they have also introduced new opportunities for forward-thinking entrepreneurs to develop innovative systems, services, and products that will help both businesses and consumers in this new environment. How well entrepreneurs are able to creatively tackle the unique problems of a post-COVID world and execute sound strategies to deliver effective solutions will define the next decade and beyond.

Disruption can occur in digital and analog fields alike.

While much future forecasting looks to digital disruption, we shouldn’t think that the only fields that can be subject to disruption are those that are essentially technology-based, such as cloud services and data management. We are living with both feet squarely in the digital world, but there are plenty of industries and sectors based on analog business practices where new opportunities can now be found. Of course, we can expect digital engagement and big data to play a part in the operations and strategy of any business in the 21st century, but that’s not the same as saying the only opportunities are in tech. Consider these broadly based fields also, where tomorrow’s entrepreneurs and startups are looking for ways to disrupt the status quo – or to move into an already disrupted field – and make an impact.

Healthcare.

Healthcare will always be a priority industry for startup opportunities, and that has only become truer in the face of the pandemic. Whether it’s by facilitating virtual treatment, giving providers new ways to analyze patient data, expediting the financial process or another way, the healthcare industry can always benefit from those who have the vision and skills to improve the process for everyone.

Education.

COVID-19 forced teachers, parents, students, and administrators to enact stopgap solutions that have been far from ideal for all parties involved. Beyond the pandemic, new methods of effectively engaging students away from the classroom can be applicable to a wide variety of situations – such as regions affected by natural disasters, and developing nations where children are often not easily able to travel to a classroom.

Professional business services.

Companies of all shapes and sizes are adapting to life beyond the office to varying degrees, and many of them are finding it difficult to manage traditional functions such as administrative work and accounting with their current tools.

Real Estate.

How does the real estate process work when the traditional “open house” model is no longer suitable? What are the benefits of investing in property as a rental in the future?

Hospitality.

Perhaps more than any other industry, hospitality needs the help of innovators who can help them turn a profit when the core aspects of their business model have been upended.

Trades.

Trade businesses like carpentry and plumbing have often lagged behind other services in embracing disruptive practices, but the changes in behavior they are facing now mean they should be looking to partner with startups that can offer creative solutions.

Traditional startup best practices remain timeless.

The more things change, the more they stay the same. Although the mechanics of doing business look much different in the current situation, it’s important that entrepreneurs know that much of the traditional advice for operating a startup remains valid. Choosing the right business entity for your organization is always the first step in setting yourself up for success, whether it’s an LLC, C-corporation or other structure. So although the business idea may be the harder part, something as common as knowing how to form an LLC in California remains as easy as clicking.

Finding the right partners and sticking to defined roles will prevent confusion and promote officer transparency. Reaching out to experts and soliciting advice to protect your valuable IP will help you maximize your assets effectively. Enacting strict policies against commingling funds and keeping diligent records helps you stay ahead of any potential legal pitfalls. None of us knows exactly what the future will bring, bit we can be sure that innovative startups with solid business plans that rely on fundamentals will still find room to grow and thrive.

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These Are The Top 5 Cryptocurrency Exchange APIs

API stands for Application Data Interface. We use APIs on a daily bases, but we do not realize it. Basically, it defines interactions between multiple software intermediaries and enables one software application to interact with another.

What is the role of the API?

An API takes requests and tells the system what you want it to do, and then it returns the system response back to you. APIs are used everywhere. Google Maps uses APIs, Yahoo Finance, etc. API is basically a messenger that conveys information.

How are APIs used in Cryptocurrency?

Cryptocurrency APIs are used to provide data about cryptocurrencies, and they help to execute trades also. They provide information such as prices, trading volume, historical data, they are used to display news feeds about cryptocurrency markets, and they help ranking coins by data such as trading volume, popularity, etc.

Cryptocurrency exchanges have shown their API so developers will be able to integrate with their platforms. 

We take a look at cryptocurrency exchange APIs and created a list of top 5 of them that are being used.

1. Kraken API.

Kraken was founded in the United States in 2011, and the cryptocurrency exchange provides Cryptocurrency to fiat trading. Kraken is a well-known cryptocurrency exchange. With Kraken API, traders can allow third-party applications to initiate and cancel trades in their accounts.

2. Binance API,

Binance was founded in 2017 by Changpeng Zhao, and its headquarters are established in Malta. The most active trading pair on Binance is Bitcoin to the U.S. Dollar. Similar to Kraken API, Binance API allows exchange users to perform trades on the platform using third-party applications. Traders can also allow these third-party apps to trade, create, and cancel orders. Binance API 

3. Bitfinex API.

Bitfinex cryptocurrency exchange was founded in 2012, and it is located in British Virgin Island. Bitfinex was the most preferred platform for traders for many years. BitFinex API enables developers to access all features of the BitFinex exchange platform. Traders can additionally use this to authorize third-party applications and bots to access and execute trades on their behalf.

4. Coinbase Pro API.

Coinbase Pro was founded in 2012, and it is a secure insurance backed platform. Coinbase Pro offers an inherent interface with real-time orderbooks, charting tools, trade history, and a simple order process so you can start trading quickly. Coinbase Pro API allows developers and businesses to integrate Bitcoin, Bitcoin Cash, Litecoin, and Ethereum payments into your business or application.

5. Bitstamp API.

Bitstamp is one of the world’s largest cryptocurrency exchanges. The exchange is based in Luxembourg, and it allows trading between the U.S. dollar and cryptocurrencies such as Bitcoin, Litecoin, Ethereum, Ripple trading, plus several additional assets. Bitstamp API allows third-party applications and automated software (bots) to access user accounts and execute trades.

Conclusion.

Cryptocurrencies are growing and cryptocurrency exchange APIs play a key role for traders as they help them execute the trades more accordingly and help them make their trading strategy. When picking a cryptocurrency exchange, it is essential making sure that it is legit and a secure one. Similar to financial systems, where security is also crucial for APIs, so creators of APIs want to protect them against any possible malicious user.

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How To Choose The Right Help Desk Platform For Your Business

You are starting a new company and know that you need some type of help desk support. Do you hire an onsite team or contract with a remote provider? There are benefits and challenges to either path you choose. Whatever the direction in which you decide to go, you need to decide on a dependable help desk software that can meet your company’s needs. Will your help desk team be serving only your internal employees or external customers as well? Does your company sell a product or provide a service? How large is your company? What is your vision for the number of employees to which you would like to grow? If you sell a product or service that will require customer support, how many support members will it take to adequately handle the number of customer inquiries that will potentially be submitted?

Thoroughly evaluating your needs, in the beginning, will help you avoid making an investment that is not quite adequate down the road, thus causing you to spend more time and money to make an adjustment. There are a few key things to consider in making your choice.

Availability.

An onsite team will be able to assist your employees and customers during standard office hours only, unless you decide to have more than one working shift or pay your employees overtime. A remote team can often provide 24/7 assistance.

Hands-On Assistance.

An onsite team will be able to physically help your local employees with their technology needs, which is especially helpful when you are setting up technology like printers and desktop computers. Your local team can typically handle any issues without much delay. If hands-on help is required for a project, a remote partner might have to contract with a local provider if they are not geographically close to you, which will often cause a delay in the time it takes for the work to actually be performed.

Staffing Costs.

Hiring an onsite team will often incur higher personnel costs than what you will need to budget for contracting with a remote provider. The price of an offsite team might be less than the cost incurred by supplying a local employee with office space, furniture, office supplies, employee benefits, and basic utilities like electricity and water. Before partnering with an offsite provider, be sure to look over their contract very carefully for what is and is not covered in their standard service offering. Simple requests like resetting a password could come at a higher price than you think. You should likewise consider any needs that you might have after hours, and the cost of overtime should you need to call upon your local team member for assistance during those times.

The Human Connection.

More and more employees are performing their jobs remotely these days. While this can increase efficiencies and decrease operating costs, you risk losing the company culture that you want to instill in your team. You want your company to be an extension of you. Building and maintaining a specific and consistent company culture can sometimes be easier when your team is in the same physical location. If you decide to go with an outside firm for your help desk needs, check them out thoroughly to ensure that they will provide the same standard of customer service that you would expect from your internal staff.

Providing your employees and customers with excellent help desk support does not have to be an overwhelming feat. Ensure you have the right people in place who will be good representatives of your company, and invest in the right help desk software to support both them and your customers.

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Little Tweaks That Will Catapult Your Online Store To The Next Level

You don’t find many startup ideas as straightforward as an online store. Well, not in theory at least! It follows a pretty basic business model of selling products online for people to order. You stock the products in a warehouse or your garage, then ship them off as the orders come in. If you’re looking to launch a successful startup in 2020, this is probably the best idea you’ll find. Especially if you already have your products ready to sell!

The internet is massive and knows no bounds. So, you will be in direct competition with hundreds, maybe even thousands of other online stores. This doesn’t just include small businesses, but massive corporations as well. It’s still highly possible to make a lot of sales and generate loads of customers. The key lies in your online store. How good is yours compared to the others out there? An excellent store appeals to customers and can set you apart from others. 

Naturally, the main thing to think about is the user experience – which is the same as any other website. If users don’t enjoy their time on your site, they’ll leave. Now, we could go into detail on all the different ways you should design an online store. However, this guide will focus on some of the smaller tweaks and additions that some business owners don’t even consider. By adding these to your online store, you can improve the way it looks, functions, and appeals to customers. 

More product images.

You should have some images of your products listed on the online store. It’s far too common for businesses to only have one or two images of a product. Even worse, the images are just stock photos of a product, rather than showing the real thing in action. So, your first port of call is to update your photo library by adding more product images. 

The trick is to have images that display the products from all different angles. You should also show the products in real life, rather than just on a blank background. For clothing items, display them on actual models. For other things, show them in comparison to other physical objects. As an example, imagine you’re selling a reusable water bottle. Display pictures of it on a desk or in someone’s hand so users can see the size comparison. 

All of these additional images provide more information for consumers. When a consumer is informed, they’re more likely to make a purchase. They’ll feel confident that your product is what they’re looking for, and you’ll secure a sale!

Suggestions.

Go onto any online store for a big company, and you’ll spot a few trends. One of the biggest ones is the idea of providing suggestions for users. For instance, head to Amazon, and you will see two different types of suggestions. One will be based on your previous buying or browsing history on the site. The other will be based on what other customers have bought. You should adopt both types of suggestions on your online store, and here’s why.

You see, suggestions point your web traffic in the direction of other products. They might buy a pair of shoes, then you have a product suggestion below for some socks. Suddenly, they realize they’ll need some new socks to go with the shoes, so an extra purchase is made. Suggestions like this are more built around common-sense pairing some products with others and data from previous customers. If you know loads of people buy two items together, you can suggest them under the product listings. 

The other type of suggestion – based on previous browsing data – only works if someone has visited your site before. It’s built around cookies, and you basically look at what they bought/browsed, then offer similar products. You cater to their tastes, further increasing the chances of a sale being made. 

A smart search bar.

It should go without saying that your online store needs a search bar. This is the easiest way for a consumer to find what they’re after. Instead of navigating through different menus and filtering the products, they can type the exact word into a bar. If you don’t already have one of these, you need to get it ASAP, as it is vital for the UX. 

Furthermore, you can improve your current search bar by upgrading to a smarter one. Nowadays, you can take advantage of AI search technology to make life even easier for consumers. Here, when they start typing, you automatically provide product suggestions based on what they’ve typed. It’s like when you do a Google search, and it predicts what you want to look for. This is pretty much the aim, and it can have a couple of benefits. 

Firstly, it may speed up the searching process – which always helps. Secondly, it might show consumers different products that they didn’t know you had. So, while they look for one thing, the predictive search might show them another. Again, this offers the chance to make an extra sale or to sell more products in one go. 

Show off your trust signals.

What are tust signals? Simply put, they are signs on your website that display why people should trust your business. You’ll find many different trust signals on lots of different websites, all of which play a role in convincing people to buy from you. A couple of common ones include Verified by Visa, Norton Secured, and a Money-Back Guarantee. All of these things tell a consumer that your website is safe and secure, and that they can trust your business. 

Add trust signals to your site and make sure people see them. Another key trust signal is a testimonial or some reviews. Put these on your site to further show people that your business can be trusted and provides top-quality products. 

These four tweaks are quite minor in the grand scheme of things. You won’t be forced to restructure and redesign your entire online store! Instead, make a few little changes to have a big impact on your target market. In turn, this can influence more sales and catapult you to the next level. 

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A Guide To Remote Work Success

Even before the current pandemic, more and more businesses were shifting towards a remote work system. Yet since the world was turned upside down, this has gone into overdrive. For many who were fortunate enough to still remain employed, they suddenly found themselves working from home.

At first, this could have been seen as a dream scenario for those who were tired of the daily commute to the office. However, remote work presents its own set of challenges, and it can be difficult for people to adjust to the changes.

If you’re struggling to find the right balance since becoming a remote worker, this guide is here to help. Below are the steps you should take to ensure your performance and morale both remain at a high level.

Have the right apps in place.

There are many, many different tools to collaborate online available. Settling on the best collaboration apps for your business is not an easy task, but they all have the overall aim: to make your life easier. As a result, you can’t really go wrong when picking your apps.

Of course, different tools have different functions. In general, you want apps that cover tasks such as the following:

• Communication (both text and video)
• File sharing
• Project management
• Design and software collaboration
• Time tracking

The more apps you have in place that take care of monotonous tasks and streamline your workflow, the more productive you – and your business – will ultimately be.

Create a designated workspace.

This step can be tricky, depending on the space you have at home. Ideally, you’ll want a spare room that you can transform into a home office. If this isn’t a viable option, try and find a space within your house that has a minimum amount of distractions. Not only can family members prove to be bothersome while you’re trying to get stuck into your work, but that nearby videogame console can also be alluring…

When setting up your workspace, a comfortable chair is a must. You’re going to be sat on your keister for about eight hours each day, so you want a seat that delivers both comfort and good lumbar support. To complete your makeshift office, you’ll require the likes of a desk, computer, phone, and stationery.

Invest in your hardware.

It’s true: in this digital world, you’ll likely have all of the hardware required to start your remote work journey. Nevertheless, a few small – yet significant – upgrades to your hardware can have a significant positive impact on your work experience.

Here are a few aspects you should consider upgrading if needed:

Wi-Fi: A strong Wi-Fi setup is a necessity when it comes to remote work. When you’re collaborating with other workers across the internet, your Wi-Fi has to remain secure and stable. The last thing that you want to do is slow down productivity because your video call keeps going down due to a temperamental connection. Unsure if your Wi-Fi is up for the job? You can use Speed Test to, well, test your internet quality. If it’s below standard, you may have to change provider or purchase a Wi-Fi booster.

Microphone: When setting up for video conferences, you need three main elements: Wi-Fi, a webcam, and a microphone. While it would be nice to have a HD camera, it’s fair to say a high-quality microphone is the more important of the two. You want your employees and clients to be able to clearly hear what you’re saying, and that’s rarely possible with an in-computer microphone. Along the same lines, you should also invest in quality speakers or headphones so you can hear what others are saying.

An additional monitor: An extra monitor for your desktop or laptop can make life a whole lot easier. You can have, for instance, all of your messaging tools on one monitor, while the other one can be dedicated solely to your work files and documents.

Stick to a morning routine.

You no longer have to drive to the office or get public transport. This is one of the great perks of remote work. Nevertheless, you shouldn’t take this for granted. You might be able to roll out of bed, switch on your laptop, and be ‘at work’ within a couple of minutes. This doesn’t mean you should, however.

It’s recommended to stick with the same morning routine as normal. That means you should wake up at the same time, eat your breakfast, and get dressed.

The latter point is particularly important. Now it’s likely you have seen on social media people wearing professional attire on the upper half of their body – which can be seen during video calls – but have shorts or pajamas on below. While this is a funny visual, try and stick with a full work outfit. This helps from a psychological point of view, as it makes you mentally switch from home life to productive work mode.

Keep up relationships.

Working from home can be a lonely experience. Yet even if you’re not going to be physically in the same room as your workmates, this doesn’t mean you should abandon all communication. Yes, video calling can be a little awkward at first, but it’s worth sticking with it so you can foster relationships with others.

Also, avoid just work-related discussions. Have a chat about the weather, sports, the latest news, etc. – topics you normally talk about when in the workplace. Video calling also helps to maintain face-to-face communication and provide a more personal, engaging experience.

Take a break.

First of all, it’s essential that you firmly establish your working hours. When doing your job from home, it can be all too easy for work to slip into your personal time. If this happens, you’re going to suffer from burnout sooner rather than later.

In addition, always find the time during work hours to take regular breaks. Every hour or so, step up from your desk for five minutes. Go for a walk in the garden or browse through your social media feeds – whatever helps to refresh and reenergize.

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How ‘No-Excuse’ Leadership Can Help Businesses Succeed After The Pandemic

by Troy Nix, author of “Eternal Impact: Inspire Greatness In Yourself And Others“

The COVID-19 pandemic and the resulting economic slowdown created an uncertain future for businesses across the country.

Regardless of this rocky situation, though, the best business leaders will make sure they don’t allow the pandemic to become an excuse for failure. I admire leaders who don’t complain about circumstances or point the finger at someone or something else.

No, business leaders didn’t create the circumstances that led to the pandemic and its aftermath, but it is their responsibility to get their businesses and their people through the challenges they now face, he says.

Whenever you’re leading an organization, the ultimate responsibility for any failure is yours. It may be because you failed to train people properly or because you failed to hire the right person. It may be because you failed to develop a proper strategy or because you failed to develop the right culture. It’s ultimately your failure, and no excuse can ever absolve you of the responsibility of personal ownership.

To be successful in the coming months, business leaders need to:

Set an example.

Ultimately, you would like everyone in your organization to take responsibility and refuse to make excuses. But you can’t expect that if you aren’t willing to set the example and claim responsibility for any failures yourself. The best leaders take the high road and there’s no throwing anyone under the bus. Setting an example will have a constant impact on your employees, and they will know they can rely on you and depend on you.

Do a little introspection.

If you feel the urge to make an excuse for any failed business performance, look inward instead and ask yourself the following questions: Could I have acted differently to prevent this outcome? What could I have done to better improve the end result? How did my actions or inactions play a part in the failure? I guarantee that if you do this and are honest with yourself, you will inevitably find a linkage for errors, disappointments, and fiascos directly back to yourself.

Take ownership.

People don’t understand just how much they affect others when they make the decision to take responsibility for any and all actions. We must own what we do, and we have to own what others under our command or influence do, even though it might be miles away from us and somebody else is executing the plan. When you get up every morning and look at yourself in the mirror, are you owning what you are doing, or are you making excuses?

Making excuses – whether it’s in the crisis we now face or some other situation – will lead to dead ends. I’ve seen time and time again that when people take control of their lives and eliminate the excuses, a life of excellence and fulfillment is the end result.

 

Troy Nix, author of “Eternal Impact: Inspire Greatness In Yourself And Others“, is the founder, president, and CEO of First Resource, Inc., an innovative association management company for America’s manufacturers. Nix, a graduate of the United States Military Academy at West Point, served in the armed forces for a decade before moving into the business world.

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Top Tips For Launching A Successful Start-Up

Countless people dream of launching their own business, and in many ways, there’s never been a better time to do so. Over half a million new businesses got started per month in 2018 alone, and the advanced technologies and resources of the modern era provide so many ways for new businesses to find success, connect with customers, and build their brands.

However, nobody should set up a new basis and think that it’ll be smooth sailing. Statistics show that a staggering amount of new startups end up failing within the first couple of years due to a wide range of reasons, and one of the most damaging issues of all is a lack of preparation. It’s vital to take your time and prepare accordingly before beginning your business, and these tips can help you get off to the best possible start.

Market However You Can.

You might have an amazing idea for your business, but even if the idea is sound, you still need to let people know about it. This is why marketing is so important for any business, great or small, and it’s absolutely vital in the early stages when trying to set-up your new company. Use social media, flyers, visit conventions, and make use of custom pop up tents and table covers to draw eyes to your company. In short, do whatever you can to spread the word.

Own It.

Too many people suffer from self-doubt when it comes to starting a business. They think they don’t have the time, the energy, the skills, the experience, and they’ll make up all kinds of excuses to explain why they can’t do it. If you’re suffering from something similar, it’s time to address those issues, deal with your doubts, and start believing in yourself.

Find Something You Care About.

One of the golden rules when it comes to launching a new business is to focus on something you really care about. If your heart isn’t 100% in your business, your motivation levels won’t be at 100% either. Startups require a lot of work and effort, and doing what you love is a big part of what will drive you to put in that effort and work the long hours needed to bring your business to life, so find your niche and start living your dreams.

Solve A Problem Or Fill A Gap.

Often, the most successful startups are those that solve existing problems or fill holes in the market. Finding a hole in the market these days or a problem that hasn’t been solved already might seem difficult, but you’d be surprised how many new businesses are coming up with innovative, fresh ideas all the time to make life simpler and better. Think about your target customers and what they’re looking for, then try to provide it.

Don’t Overcomplicate It.

Many entrepreneurs start off with a clear idea in their minds, but then, over time, that simple idea can start to expand in all kinds of directions, like a tree sprouting more and more new branches all the time. It’s easy to let yourself get carried away, adding and expanding on your initial idea with lots more concepts, but try to keep things simple to start off and let your business grow organically over time.

Budget, Budget, Budget.

Budgeting is probably the number one issue that most new business owners face in their early weeks and months. It can be so difficult to start up a new business and try to estimate all the possible costs that come along with it, but you have to put in the time to set up a budget that works. Think about supplies, rent, your working location, marketing costs, etc., and don’t forget your personal expenses too.

Understand The Legal Aspect.

The legal side of setting up a small business can be quite daunting for many people, as most new business owners have little to no knowledge of the laws and regulations that might affect them. However, this stage cannot be overlooked or underestimated, and breaking rules could land you in a lot of trouble. You might want to talk to an accountant to learn more about tax liabilities and employer laws for your state.

Conclusion.

Setting up a new business is exciting and daunting all at once, but if you prepare properly and go into this adventure with the right frame of mind, it could prove to be one of the best things you ever do. Follow our top tips to begin your startup the right way.

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