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You are here: Home / 2018 / Archives for April 2018

Archives for April 2018

You Team Will Succeed Only if They Trust Each Other

April 24, 2018 by Asif Nazeer Leave a Comment

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Trust is difficult to establish, hard to maintain and easy to break.


April 24, 2018

7 min read

A Note From The Editor

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Opinions expressed by Entrepreneur contributors are their own.


Bureaucracy exists were trust doesn’t. Excessive process and micromanaging exist because people don’t trust each other to do what’s right and what’s needed. In a digital era where social tools make you more visible and accessible, you make personal and business decisions based on trust daily.

The 2018 Edelman Trust Barometer, often identified as the benchmark of trust measurement, recently identified that there has been a “loss of trust: the willingness to believe information, even from those closest to us.”

Trust is difficult to establish, hard to maintain and easy to break. In business, trust is one of the most valuable and complex of all your assets. It solidifies your relationships with all people and leads an organization to thrive. As Richard Branson often says, “Learn to look out for your staff first, and the rest will follow.”

Let me share with you eight principles that determine whom and how you trust in the workplace.

1. How people handle failure.

Within an organization, when people trust each other, their energy is invested in minimizing damage and getting on with it. The involved parties take responsibility without prompting and lead the conversation to see how the problem will be avoided in the future.

A recent Google study, Project Aristotle, was founded on the premise of understanding why certain teams in the workplace struggle while others thrive. Researchers determined that “psychological safety” is the key to building and fostering successful team.

When people don’t trust each other, blame and shame runs rapid through the tapestry of the organization. Taking responsibility embraces your vulnerability and leads people to move forward together.

Related: How 10 Billionaires Faced Failure

2. Accumulate trust deposits.

Trust is like a flower. Once we step on a flower, it’s difficult to revive it. When you think about trust within a workplace, we know that when members trust each other to execute, teams are inherently productive. When we want to create and build upon an environment that fosters trust, then what we say we will do, we do. We genuinely are curious and listen. We are honest in how we provided feedback, without the sugar coating. And we don’t engage in gossip, eradicating the “I shouldn’t be saying this, but…” conversations. When we are visible and transparent in the workplace, we create a platform that invites shared thinking from all.

3. Work together to solve pain points.

Most projects take more than one person to accomplish. Trusting colleagues is about letting go of the urge to be a lone ranger. Your team members have to be trusted to accomplish their tasks so you can complete yours. Autonomy is only possible where there is trust. When you trust, you don’t expend much of your time and energy watching your back. Your energy is directed towards productivity and innovation.

Horst Schultze, one of the founders of the Ritz-Carlton Hotels, epitomized what it meant to be a trust-building leader. Every employee was provided with an induction to the organization, coupled with extensive training and a $2000 discretionary fund they could use to solve a customer problem without checking with anyone. He honored his people by collecting their stories in making a difference for customers.

A team with high trust inspires its members to retain trust through excellence. Time is spent on identifying and breaking through road blocks, inspiring people to share more and working together to resolve pain points.

4. Small actions over time.

Trust is not a matter of technique, but of character. You are trusted because of your way of being, not because of your polished exteriors. Building a culture of trust in the workplace occurs one step at a time. It is the small actions over time. As a leader wanting to build trust, talk about what you want, not what you don’t want. Lend your voice toward what you want to bring to make it happen. When you operate from a place of trust, you demonstrate a commitment toward trust. You show others what can be by promoting the ideas, talents and contributions of those you work with. Focus on what people can do and help others succeed. Step toward trust from where you are.

Related: Do Your Clients Trust Your Team? 3 Ways to Ensure They Do.

5. Sharing stories.

Trust can grow rapidly when someone shares with you something touching that happened earlier in their life. You start to build a shared empathy. When you want to create trust in teams, initiate conversations or invest in team games that help you tell stories you want to tell. You control what you want to share with colleagues that can break down the divide between people and teams and lead to more empathy. Sharing stories is one way to connect and build trust.

6. What can mice teach us.

A study at NYU Langone showed that when mice were given oxytocin, they started caring for the other mice’s babies as if they were their own. The oxytocin hormone enhances bonding, and even after the mice’s oxytocin receptors were shut off, this behavior continued.

Oxytocin, the trust molecule, can teach us a lot about working together as a team and building great working relationships leading to more trust in the workplace.

Paul Zak’s iconic TED Talk and research on neuroscience and trust, identified that as long as there was an intention of trust, you would biologically associate that with trustworthiness, which boost your oxytocin.

The best way to build your team’s internal trust is to be transparent about the overall vision and progress of the business, showing people how and why their work is important. Leaders must provide guidance, schedule check-ins between colleagues, and make room for conversations that strengthen connections.

Related: All the Common Excuses for Not Delegating Boil Down to Lack of Confidence

7. Monkey see, monkey do.

Our brains are wired to place survival as the top priority. In the workplace, any person who can demonstrate that they can reduce or eliminate threats to other’s survival is deemed trustworthy.

When we watch someone else, our brain is activated in the same way that the brain of the person you are observing is activated, effectively through what is called “mirror neurons.” This means you may unintentionally transfer your own feelings of distrust to others. The trick is you can’t fake trust. You must believe that your colleagues are trustworthy to transmit this signal to them. In return, their brain will start feeling trust towards you as a result.

8. https://cm.g.doubleclick.net/pixel?google_nid=adaptv_dbm&google_cm&google_scEmotions impact trust levels in the workplace.

There are many ways to treat your colleagues well, but one of the most important initiatives is creating a culture that makes it safe to make mistakes and openly debate and discuss issues without fear of retribution. Your colleagues will trust your ability to help them grow if they know that failures will be treated as teachable moments.

In a time of crisis, how you act in difficult times is the greatest measure of your integrity. Don’t wait to talk about a mistake that happened until everyone finds out about it on social media, and don’t sugarcoat what happened. Take swift action to right a wrong. Taking responsibility preserves trust.

Atlassian, a global software giant, built a culture where articulating why certain decisions are made is important in how they have built trust. An “open company, no bullshit” value within the company has provided teams with access to information as quickly as possible, allowing employees to share and express their opinion without feeling they are going to get judged or pulled down. The company supports an environment where individuality is celebrated.

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The New Automation Is Smart, Fast, and Small

April 24, 2018 by Asif Nazeer Leave a Comment

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At most companies, the profile of a large-scale technology initiative has looked astonishingly similar over the last several decades. The initial pledge of US$30 million and two years soon balloons to $50 million, and two years becomes four. And this pattern of heavy investment shows no sign of slowing down: Gartner predicts that global spending on enterprise software will grow 9.5 percent in 2018, reaching $389 billion — up from $355 billion in 2017.

We can think of these traditional IT initiatives as “big” automation, with a nod to their big budgets, big timelines, and big functional agendas. Enterprise resource planning (ERP) platforms, customer relationship management software, and product life-cycle management software, among other systems, have helped companies streamline functions and track data. However, many of these automated systems still require significant manual processing. For example, PwC’s 2017 Finance Effectiveness Benchmark Report found that finance professionals spend half their time focused on the mundane, repetitive task of gathering data from various systems dependent on structured databases. As a result, although enterprise IT remains essential to companies’ business operations, many of these systems have reached the point of diminishing returns.

Fortunately, the speed, scale, and cost of automation are evolving beyond this point. Intelligent technologies such as robotic process automation, machine learning, and natural language processing systems offer companies new opportunities to improve process performance and realize significant cost savings. These technologies can be implemented in short sprints, focused on a specific problem, with manageable costs. Although big automation involves creating core enterprise systems that drive commonality, standardization, and centralized control, “small” automation is the fast implementation of flexible and adaptable technologies that fill the gaps left by your current enterprise systems — enabling new levels of productivity.

The potential impact is striking: Small automation can improve the productivity of individual processes by 80 to 100 percent (the top of the range reflects a transition to a touchless solution) and overall functions by 20 percent or more. The PwC benchmark report cited above found that in the finance function, automation could reduce by up to 46 percent the time and cost of key processes such as billing, management reporting, general accounting, and budgeting. Finance professionals then would be able to focus on higher-value activities, such as analysis that could lead to breakthrough insight. The same level of improvement is possible in other functions, such as customer service, supply chain management, and sales. This ability to economically solve problems at the team or even task level marks a significant change in business technology.

Enterprise IT Gets Flexible

Small automation does not replace big automation. Instead, it relies on new technologies to build on the foundation of data and standardized processes that large-scale IT initiatives have established. The small automation approach has several key differences from big automation that enable process improvements.

Small automation can improve the productivity of individual processes by 80 to 100 percent, and overall functions by 20 percent or more.

For one, small automation is easier to implement and much less expensive: A sprint can come with a price tag as low as tens of thousands of dollars, versus the tens of millions typically spent on big automation efforts. And large-scale IT initiatives usually apply to an entire function, such as finance or sales. This involves significant coordination among the various functional leaders and frontline employees. But small automation can be applied to individual processes or tasks. For example, a company could put a bot in place to pull specific finance data from a spreadsheet and load it to the company’s ERP platform. Because such tools can be so targeted, they do not require institutional buy-in.

Small automation is also far more flexible than big automation. Traditionally, companies could not begin to capture gains from automation technology until they had standardized processes and databases that were accessible to a broad set of users, which could take years. Before the process itself could be implemented, committees had to agree on what the optimal processes were so employees at different sites would all execute that process the same way. Small automation, in contrast, does not depend on standardization. For example, intelligent process automation platform software such as machine learning can accommodate differences in terminology and other types of complexity, offering immediate gains. This software can also bring together multiple data sets in the cloud and allow for the use of more unstructured data.

Finally, the technologies enabling small automation are easily configurable and able to learn dynamically, rather than relying on predefined rules or programmers to write the perfect algorithm in advance. This allows companies to deploy small automation in environments where the input and output are highly variable, such as service centers that manage multiple forms of inquiry and require tailored responses. New automation technologies work with those variations, rather than requiring someone to manually process and standardize the data beforehand. For instance, a chatbot can learn about a company’s benefits plan — its various policies and protocols — and instantly provide answers to questions specific to an individual employee’s package.

Employees will be used to large-scale IT projects that overpromise and under-deliver. Demonstrating strong returns in a short time will convert the cynics.

Consider a company with multiple units and departments that buy products and services from different vendors. Management wants to bundle those purchases to reduce complexity and become more efficient, but because the purchases are made on different systems, the company has limited transparency regarding who’s buying what (or what they’re paying). The traditional, big automation solution: Standardize processes, data, and systems across the entire enterprise — a time-consuming and expensive undertaking.

Now contrast this scenario with a small automation approach. With a properly trained algorithm and a sufficiently sized historical data set, the company uses machine learning to identify patterns in the purchasing data — even when the data has inconsistencies — reducing redundant purchases and streamlining the entire process.

A machine could be tasked with sifting through historical data to determine which vendors for a particular service offer the best value: the best price, quality, delivery or financing terms, or some other metric. But the underlying information does not need to be standardized or even labeled consistently. One business unit might have categorized a vendor as providing “secretarial services,” another might have it as “administrative support,” and a third might call it “clerical contracting.” Machines are smart enough to scan the data and derive a synthetic master data model to see that those three terms all refer to the same service, group them together, and assess them accordingly.

Using existing data, in whatever form, machines also can spot historical patterns, determine how vendors have performed, recommend one vendor, and even make predictions about future transactions (for example, the potential volume discount a company can demand by bundling purchases for different units). And critically, all of this happens instantly: Buyers can direct their orders to the preferred supplier in real time, or the system can do that for them automatically. This wasn’t possible before, when the information was fractured across multiple ERPs.

The Small Automation Mind-Set

The distinctions between small automation and big automation offer companies a fundamentally different level of operational performance and cost. But adopting the small automation approach can be challenging at organizations where large-scale initiatives have long been the norm, because it requires a significant change in mind-set. Company leaders should start with the following three steps.

1. Focus on value. Because small automation can solve targeted problems, it’s up to company leaders to identify applications that offer the most potential value. Leaders must stay true to the promise of small automation and avoid getting overly ambitious in scope — for example, by aiming for the large-scale consolidation or standardization that employees have grown accustomed to. Employees will be used to projects that overpromise and under-deliver. Demonstrating strong returns in a short time will convert the cynics. Small automation projects typically happen in a series of sprints, and can be completed in 16 to 20 weeks.

2. Consider the future of work. Automation alone does not save money or improve performance: People and processes will also have to change. This is an area where there is understandable anxiety; automation stokes fears that machines will take people’s jobs. But our experience suggests that many of the tasks being automated are activities people tend not to want to undertake, such as spending half the day pulling and loading data. Or they are tasks for which small automation can actually improve people’s performance — for instance, by introducing predictive algorithms that help them make better decisions and free up their time for more rewarding, interesting, and higher-value-add activities.

This is an entirely new way of working, and company leaders will need to ensure that both they and their people have the right knowledge and skills — such as programming and data science knowledge and process improvement skills — to be successful. And they’ll need to ensure that everyone’s mind-set and behaviors also shift accordingly. People will need to be able to accurately align automation opportunities with fit-for-purpose automation types (big or small), accelerate time-to-value from automation by breaking solutions into minimum viable products, and incorporate predictive algorithms into real-time workflows to drive better decision making.

3. Take a big-picture view. The backbone of this new way of working is strategy. Companies need to know their own strengths. There will be “keep the lights on” activities that can become touchless, as well as differentiating activities that should become increasingly intelligent. Moreover, companies need to take a fresh look at their organizational structure to ensure that it gives teams the freedom to develop creative solutions and experiment. Small automation works well at the level of individual processes or tasks. To that end, the company should put some guardrails in place to ensure accountability, and then let business units and departments adopt the tools as they see fit.

Large-scale systems, though challenging to implement, have created troves of valuable data in nearly every corporate business unit and function. Now, with new technologies at the ready, companies can make this data work for them in ways that were mostly unheard of only two or three years ago. The next generation of automation is small.

Author Profiles:

  • Dan Priest is a thought leader in digital and technology strategy for Strategy&, PwC’s strategy consulting business. Based in Los Angeles, he is a principal with PwC US and is responsible for developing and executing digital strategies with clients across industries.
  • Kumar Krishnamurthy is a leading practitioner in IT strategies for Strategy&. Based in Chicago, he is a principal with PwC US. He works with global enterprises on technology strategy and operating model design, and enabling a productivity agenda leveraging automation.
  • Alex Blanter is a principal with PwC US, based in Silicon Valley. He is a leader in the firm’s product and operations team in the telecommunications, media, and telecom industry, working with companies on using emerging technologies to drive business value.

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These 2 Brothers Are Trying to Start a Revolution in Hat Head

April 23, 2018 by Asif Nazeer Leave a Comment

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Jordan and Ian Kay want sports fans to embrace their superstitions with style.


April 23, 2018

4 min read


Last season on Elevator Pitch, brothers Jordan and Ian Kay wowed the judges with a high-energy pitch for their product, Rally Flip Cap, a double-billed hat with a flip-up feature that reveals a hidden logo or handwritten message. (Watch their pitch here.) We caught up with the dynamic duo to get their tips for pitching and fundraising, and to find out if America is, you know, flipping out for their hats.

How did the idea for Rally Flip Cap come about?

Jordan: In 2010, I was at a Dodger game when I had my “aha moment.” I noticed people were turning their hats inside out, wearing them to strike up a rally and cheer on their team. I love wearing hats and didn’t want to crease or mess up my hat. I said, “There has to be a better way,” and that’s how the concept came to fruition.

Ian (left) and Jordan Kay.

Is this your first product?

Ian: No. Since 2009 we’ve been working with our family business, Cisco Sales Corp., a product development and sourcing company. For over 41 years, our dad made products for other people.

Jordan: We have brought to market other items in-house such as the Digi-Piggy, a digital coin counting bank, and the 123 Miracle Sharpener, a 3-stage manual knife sharpener. Both of these items were design patented. The Rally Flip Cap has a utility patent.

Related: 8 Proven Habits for Ultimate Success

Tell us your biggest challenge selling this product.

Ian: Educating people about the option to flip up the top bill. Because our hat is the first of its kind, teaching people a new habit of separating the bills proved challenging.

How did you overcome it?  

Ian: We had to create the demand and show how useful our product is with the added value it brings. We documented our journey on @rallyflipcap social media accounts. 

Jordan: We always told ourselves, “If no one knows about us, no one will care.” We promoted Rally Flip Cap, exhibited at trade shows and wear them pretty much everywhere we go.

Ian: If you don’t market yourself, nobody will.

Related: Pitching Your Business to a Journalist? Here’s What Works.

How did you find funding?

Jordan: Cisco Sales Corp. invested into the research, development, molds, tooling and marketing. We’ve been bootstrapping.

Ian: Both of us invested sweat equity and personal savings into the venture and continue re-invest revenue back into building the brand.  

What have you learned about pitching?

Ian: Failing to prepare is preparing to fail. It’s important to practice and refine your pitch.

Jordan: Always make sure you have eye contact with whomever you are pitching to, even if it’s into a camera.

Ian: When you truly believe in what you are doing, you will come off as more genuine.

Can you please give us a couple of dos and don’ts for pitching?

Jordan: Don’t wing it. Practice your pitch in public and get outside your comfort zone.

Ian: Get feedback from family members, friends — and strangers. Focus on pitching the value of your product or service. Be authentic and confident in whatever you are promoting.

What keeps you motivated during tough times?

Jordan: We respect and love the game of entrepreneurship.

Ian: We’re grateful to be alive and motivated by taking action.

Jordan:  We enjoy speaking our truth while being ourselves. We will continue to inspire and help people to accept adversity by taking the challenges of life head-on.

Ian: We enjoy the process of building and learning, and believe in the power of positive thoughts manifesting. We continue to find creative ways to solve and prevent problems; however, without problems there is no business.

Final piece of advice for anyone out there who has an idea but hasn’t gotten it off the ground yet?

Jordan: If you don’t care about your idea or service, no one will. Share your ideas openly with others and be able to take constructive criticism.

Ian: Be aware of your strengths or skill sets. It’s never too late to start something. Go into the experience knowing that you will have setbacks and failures, which are stepping stones to success. It’s better to try and fail than it is to have never tried at all.

 

 

 



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1 in 4 Organizations Using Public Cloud Services Experience Data Theft, McAfee Reports

April 22, 2018 by Asif Nazeer Leave a Comment

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McAfee’s third annual cloud adoption and security report says 97 percent of organizations, including small businesses, now use cloud services from public, private, or a combination of both platforms. The bad news is 1-in-4 of organizations using the public cloud have experienced data theft.

2018 Cloud Adoption and Security Report

The McAfee report, “Navigating a Cloudy Sky: Practical Guidance and the State of Cloud Security,” looks at the state of cloud adoption and the challenges organizations face in protecting their digital assets. This year’s report also addresses concerns with private and public cloud services and the impact of Shadow IT. The term refers to IT resources built and used within an organization but without its explicit approval.

With cloud adoption nearing 100 percent, the technology is being used by organizations of all sizes. This includes small businesses who are beginning to appreciate the full benefit of cloud computing despite the risks.

In a press release, Rajiv Gupta, senior vice president of the cloud security business unit for McAfee, explains how businesses counteract the risk by having the right security protocols in place. Gypta says, “By implementing security measures that allow organizations to regain visibility and control of their data in the cloud, businesses can leverage the cloud to accelerate their business and improve the security of their data.”

The survey for the report was carried out between October and December of 2017 with the participation of 1,400 IT professionals. McAfee said a diverse set of industries and organization sizes across 11 countries took part in the survey.

Data Theft

When it comes to data theft, it is the number one concern of the IT professionals who were surveyed. This is because more than 25 percent of the IaaS and SaaS users have fallen victim.

McAfee 2018 Cloud Adoption and Security Report Reveals 1 in 4 Organizations Using Public Cloud Experienced Data Theft

McAfee attributes the problem to a shortage of security skills. Only 24 percent of the respondents said they are not facing skill shortages. This means 76 percent are experiencing different levels of shortages in cybersecurity skills.

Other Data Points

Asked what type of data these organizations store in the public cloud, 83 percent said they store sensitive information and 69 percent indicated they trust these public platforms to keep their sensitive data secure.

Again, this is despite the fact 1 in 4 organizations (or 25 percent) have suffered data theft while using the public cloud, and 1 in 5 have seen advanced attacks against their public cloud infrastructure.

You can download the full report here.

Best Practices and Recommendations

  • As the result of the study, McAfee has come up with three best practices organizations should adopt to ensure the security of their cloud infrastructure:Improve code quality and reduce exploits and vulnerabilities with DevOps and DevSecOps and Integrating development, quality assurance, and security processes within the business unit or application team.
  • Automate with tools such as Chef, Puppet or Ansible. (McAfee says use of these tools is fundamental to modern IT operations. The same tools should be used when migrating to the cloud, the company says.)
  • Move away from multiple management tools and deploy a unified management platform across multiple clouds to reduce the complexity and cost while increasing security.

The Cloud Has More Benefits Than Risks

Still, when all is said and done, the cloud offers too many benefits to ignore. Ninety percent of respondents trust it more now than they did a year ago. This is attributed to an increased knowledge of cloud technology. Native security and third-party integration for commercial security technologies have also made cloud technology safer as has an increased sense of responsibility by all parties involved.

Images: McAfee


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The Future of Augmented Reality (Infographic)

April 22, 2018 by Asif Nazeer Leave a Comment

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This innovative technology is disrupting nearly every industry.


April 22, 2018

2 min read

Opinions expressed by Entrepreneur contributors are their own.


When you think of augmented reality, Pokémon Go might be the first thing to come to mind. But AR isn’t just for games. This innovative tech is making an impact on a number of industries.

Related: 3 Ways Augmented Reality Will Find Its Way Into Your Life 

According to recent research by Lumus Vision, while AR video games are expected to reach potential revenues of $11.6 billion by 2025, other industries are not far behind. By 2025, the AR and virtual reality space in the healthcare industry is predicted to reach $5.1 billion, engineering $4.7 billion, real estate $2.6 billion and retail $1.6 billion.

Related: The Augmented Reality Workforce is Coming — Here’s What You Need to Know

When it comes to real estate and home improvement, one of the biggest obstacles people face is not being able to visualize their new home. In 2016, 51 percent of consumers said they put off home improvements because they couldn’t imagine what the finished product would look like. AR and VR are potential solutions. With VR, people can take a virtual tour through a potential home, and with AR they can place various furniture items in a room to get a glimpse of what it’d look like.

Related: 3 Brands’ Different Approaches to Augmented Reality

Retail is also an exciting industry when it comes to AR. For example, AR in retail can help people imagine various outfits on them before actually buying. Seventy-one percent of consumers say they would be more likely to shop at a store if AR were offered, and 61 percent would choose a store with AR experiences over a store without.

To learn more, check out Lumus Vision’s infographic below.

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Contribute to our Big List of National Small Business Week 2012 Events

April 21, 2018 by Asif Nazeer Leave a Comment

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National Small Business Week runs from April 29 to May 5, 2018.

As a co-sponsor of the event, Small Business Trends (SBT) is putting together a Big List of events and offers of interest to the small business community in commemoration of this week set aside to celebrate U.S small businesses.

If you are taking part in the week-long celebration by hosting an event to go along with National Small Business Week 2018, please let us know and we’ll share your event with our community.

The event can be anything from special promotions and sales to commemorate the week, to live or online events. The goal is to support fellow small business owners with valuable information so they can continue to grow.

You can also take a look at the U.S. Small Business Administration site for more information and additional events here.

The Big List will be updated until the National Small Business Week 2018 takes place, so make sure you get in touch with us as soon as possible by emailing your information at [email protected]

 





Featured Events, Contests and Awards

Big List of National Small Business Week 2018 Events
April 26 2018, Online

National Small Business Week is fast approaching. The annual event is being held from April 29 through May 5, 2018. And we know there are lots of special events to celebrate the week.

This year, again, Small Business Trends has the honor and distinction of being a co-sponsor of the event.

So, we’re putting together a Big List of National Small Business Week events and offers. This list will reach small businesses and entrepreneurs across the country on the Small Business Trends website. Share your event.


DigiMarCon East 2018 - Digital Marketing ConferenceDigiMarCon East 2018 – Digital Marketing Conference
May 10, 2018, New York, New York

DigiMarCon East 2018 Digital Marketing Conference takes place May 10th to 11th, 2018 at the luxurious New York Marriott Marquis in Times Square, New York City.
It’s the one digital marketing event you can’t afford to miss! Whether your goal is to reinforce customer loyalty, improve lead generation, increase sales, or drive stronger consumer engagement, DigiMarCon East 2018’s agenda will help attendees enhance their marketing efforts. Sessions will focus on building traffic, expanding brand awareness, improving customer service and gaining insight into today’s latest digital tools. Register today!


WEBINAR: Small Business Doesn’t Mean Small Security: 3 Major Threats You Need to CombatWEBINAR: Small Business Doesn’t Mean Small Security: 3 Major Threats You Need to Combat
May 16, 2018, Online

Data breaches, inventory shrinkage, theft, oh my. On average, data breaches cost $3.62 million per breach and stolen customer data costs $141 per record. And inventory shrinkage in the United States is a $60 billion a year problem. Believe it or not, your business exists within both of those realities. Do you know who is accessing your most valuable assets and sensitive information? Do you know what your employees do when you are not physically onsite? On May 16, 2018, at 2PM ET join Nicki Saffell, Senior Security Consultant at Brivo, Sara Polon, Owner of Soupergirl, a DC area small business, and Anita Campbell, Founder and CEO of Small Business Trends, for a discussion on these challenges and discover modern ways to combat these threats – including electronic access control.


TECHSPO Houston 2018TECHSPO Houston 2018
June 06, 2018, Houston, Texas

TECHSPO Houston 2018 is a 2-day technology expo which takes place JUNE 6 – 7, 2018 at the luxurious Houston Marriott Eaton Centre Hotel in Houston, Ontario. TECHSPO Houston brings together developers, brands, marketers, technology providers, designers, innovators and evangelists looking to set the pace in our advanced world of technology. TECHSPO Houston 2018 promises to be better than ever and we’re excited to see all the amazing tech companies and talent that will join us. Register today!


Growth & Success ConGrowth & Success Con
September 17, 2018, Online

This small business virtual conference is dedicated to supporting entrepreneurs at all stages who are stuck in the daily grind of building their businesses and struggle to get solid advice and guidance. An amazing panel of experts in various disciplines and business coaches will share tips & tricks on topics including Growth, Marketing, Management & Business Building for Success. Register today!


More Events

  • PATCA Consultants Networking Lunch-South Bay
    April 24, 2018, Sunnyvale, CA
  • Create a Powerful Brand and Connect with Customers
    April 24, 2018, Online
  • Business Networking for Professional Success
    April 25, 2018, New York, NY
  • VR Franchise Seminar – Experience the only VR platform for Franchising 2018
    April 25, 2018, San Francisco, CA
  • SearchCon 2018 Digital Marketing & SEO Conference
    April 25, 2018, Breckenridge, CO
  • The Sixth International Conference on Digital Information, Networking, and Wireless Communications (DINWC2018)
    April 25, 2018, Beirut, Lebanon
  • CHICAGO BLOCKCHAIN CONFERENCE 2018
    April 27, 2018, Online
  • Free East Cooper Networking Event powered by Rockstar Connect
    May 01, 2018, Mount Pleasant, SC
  • Free Roseville Networking Event powered by Rockstar Connect
    May 01, 2018, Roseville, CA
  • Business Inc.
    May 02, 2018, Toronto, Canada
  • Small Business Expo 2018 – NEW YORK CITY
    May 03, 2018, Online
  • New York’s Biggest One Day MBA Fair (Free)
    May 05, 2018, New York, NY
  • Manufacturing Leadership Forum USA
    May 06, 2018, Atlanta, GA
  • WSJ Future of Everything Festival
    May 08, 2018, New York, United States
  • TECHSPO New York 2018
    May 10, 2018, New York, New York
  • Energy Risk USA 2018 | Houston
    May 14, 2018, Houston, TX
  • Experiential Marketing Summit 2018
    May 14, 2018, Online
  • Chief Learning Officer Forum, Spring 2018
    May 15, 2018, San Francisco, United States
  • The Business Show 2018
    May 16, 2018, London, London
  • AM Days
    May 16, 2018, Las Vegas, United States

More Contests

  • Public Vote to Crown America’s Most Unique Small Business Underway
    November 08, 2018, http://www.paychex.com/vote?utm_source=contest&utm_medium=press%20release&utm_term=americas-most-unique

This weekly listing of small business events, contests and awards is provided as a community service by Small Business Trends and SmallBizTechnology.

Photo via Shutterstock


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Top 10 Reasons to Rebrand Your Business (Infographic)

April 21, 2018 by Asif Nazeer Leave a Comment

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In order to grow, sometimes you’ve got to go back to the drawing board.


April 21, 2018

2 min read

Opinions expressed by Entrepreneur contributors are their own.


Businesses often need to rebrand, and it can be a result of many reasons, including international growth, new management, a bad reputation or an outdated image. Whatever the reason, it’s important to create a stellar brand that people will remember.

Related: The 8 Must-Follow Rules for Rebranding Your Company 

Because of internationalization, Raider changed its name to Twix. If you plan to grow internationally, it’s incredibly important to choose a brand name that’s adaptable and appealing to cultures worldwide.

Walmart, known for its low prices, is also a prime example of a major company that wanted to reposition itself in the market. However, instead of changing its name, the company simply changed its slogan from “Always low prices” to “Save money, live better.”

Related: 5 Signs It’s Time to Rebrand Your Company

When Steve Jobs returned to Apple in 1997, he changed Apple’s rainbow logo to a sleek metallic one. Keeping up with trends, changing times and his vision for Apple’s future, Jobs’s rebrand worked well and aligned with the company’s brand of offering minimalistic, contemporary products.

Related: The 3 Fundamentals for a Successful Rebrand

If you’re planning to rebrand your business, it’s important to think about what will help your company grow. To learn more, check out Custom Logo Shop’s infographic below for the top 10 reasons to rebrand your business.

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Need Some Productivity Hacks? Here are 11 to Consider

April 19, 2018 by Asif Nazeer Leave a Comment

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Most of the time, being more productive means striking a better work-life balance and learning to mitigate the little stressors that eat away at efficiency and the psyche.



Work Productivity Hacks

These work productivity hacks will help you maximize your time and happiness.

1. Know Thyself

What time are you at peak productivity? Now schedule your most >crucial tasks during that time. If you’re a genius between the hours of 10 p.m. and midnight, then by golly, do whatever you have to do to block off that time and get ‘er done.

11 Genius Work Productivity Hacks You Need to Know

If you need a little help discovering your peak productivity, check out this app that promises to help you find it.

And if you work from home, here are some special hacks just for you.

2. Skip Facebook

It may be tempting to log in and just *peek* at what your news feed is up to, but that’s a dangerous move when you’re trying to get something done. Before you know it, you’re tangled in a web of cute animal videos and profilestalking, and it’s 30 minutes later before you realize you’ve entered the Facebook time warp.

One study showed 23 percent of workers cited Facebook as the destination to “waste time.”

But what if it’s your job to manage social media profiles for a company? Try staying within scheduling apps like Hootsuite so you’re not tempted to log in?—?or check out the Facebook at Work product that promises to keep work and personal separate on the network?—?and limit distractions from screaming goats.

3. Ditch the Smartphone

The average smartphone user checks his or her device 221 times a day.Putting your cell phone out of sight during work hours helps get it off your mind?—?unless you’re so far gone that you experience phantom cell-phone vibrations. In that case, start rethinking your relationship with technology.

4. Forget Multitasking and Just Focus

11 Genius Work Productivity Hacks You Need to Know

You might think you’re being more productive by sending those emails during a conference call, but think again. Multitasking reduces efficiency and the quality of work (plus, research shows it literally lowers your IQ). So when you have to get something done, just focus on the task at hand for best results.

And keep in mind that studies show the human brain can only focus for 90 to 120 minutes at a time before it needs a break.

5. Reimagine Your Inbox

11 Genius Work Productivity Hacks You Need to Know

Emails build a to-do list that other people create for you. So you need to manage that daily annoyance somehow.

Schedule certain times of the day that you check email, and stick with it. You can try tackling email first thing in the morning, after lunch, and at the end of day. And for God’s sake, turn off email notifications.

If you think this is going to be a problem for your teams or clients, let them know ahead of time how you communicate throughout the day.

You can also look into apps that let you get a handle on your inbox, like Productive Inbox , SimplyFile, or Boomerang for Gmail.

6. Change Your Scenery

If you’re feeling a little foggy midafternoon, try looking out the window into nature. No window? No problem?—?one study found simply looking at a computerized image of nature helped increase focus.

Even better though is to take a short walk outside. Research shows that a 30-minute lunchtime walk can help people cope with stress and boosts enthusiasm for the remainder of the afternoon.

7. Meditate

Just 15 minutes of mindfulness meditation can lead to more rational business decisions?—?not to mention better teamwork, being more creative, and a whole slew of health benefits.

Not the yogi type? Try the Headspace app, which has brought meditation to the masses. So go ahead and get your ohm on.

8. Ask for Help and Delegate

11 Genius Work Productivity Hacks You Need to Know

There is power in numbers. And frankly, there are things you’re just not good at and probably don’t want to do. When you’re feeling overwhelmed with tasks or underwhelmed by the tedious work on your plate, ask for help.

Guaranteed there is someone out there who can do the tasks you don’t want to 10 times better (try looking in Upwork), so find the person and delegate!

9. Create Innovation Time

Google made famous the idea of giving team members a percentage of time to work outside their normal projects and on what they think would most benefit the company.

If you’re constantly “doing,” you have no time to innovate. Making the same widget day after day does not allow you to think about what new widgets you might make.

Try setting aside time to work on something that will move the needle.

10. Be Agile

11 Genius Work Productivity Hacks You Need to Know

The agile approach to building products and software and managing projects is finding its way into other areas of business and even into people’s personal lives.

A popular method is Scrum (an agile framework), which breaks large tasks into smaller items that are worked on and completed typically within a one-week sprint.

11. Get Ergonomic

11 Genius Work Productivity Hacks You Need to Know

Sitting is the new smoking, don’t you know. And some research suggests that even if you exercise but still sit for long periods of time, your health is at risk. Not to mention aches, pains, and fatigue can be a real productivity killer.

Luckily, there’s been innovation in workstations that offer affordable sit-standoptions, chairs that move with you more naturally, desks that recline and even allow you to take a nap. (By the way, napping has also been linked with productivity.)

Republished by permission. Original here.

Photo via Shutterstock


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What You Need to Know to Create a Best-selling Book

April 17, 2018 by Asif Nazeer Leave a Comment

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My book made it to No. 1 on Amazon’s self-help, new releases. Here’s how you can find similar success.


April 17, 2018

7 min read

A Note From The Editor

Think your company has what it takes to make our Top Company Cultures list? Apply now.

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Opinions expressed by Entrepreneur contributors are their own.


Five years ago, I decided that it was time to write my first book. It was the story of how a single dad of five led his kids, his business and himself from disaster to success. At that time, I hadn’t written even a single word on the topic. Writing a book seemed like an overwhelming task and I didn’t even know where to begin. What kind of book should it be? A self-help, memoir, parenting, leadership or business book? Should I self-publish or try to get a traditional publisher or was there another option? I researched and found 10 individuals who were either experts, consultants or had published books. I got 20 opinions on what to do.

I have recently completed the long and arduous journey of writing a book. Leader of the Pack, a self-published book memoir, even reached No. 1 in self-help, new releases on Amazon. Now I get to brag about having a bestselling book and share how I made it happen. So, here are some the techniques I learned along the way that you’ll need to create your best-selling book:

Content is king

Before you decide to write a book, think about what the reader will get out of it. Tell your story to friends, family and on social media. See the reaction. I raised five kids on my own as a single-dad for 20 years, had a five-year divorce, a Supreme Court case and ran my own business with 100+ employees and had to reinvent that twice to survive. When I told people my story, I frequently heard, “you need to write a book.” If you are not hearing that, change your approach — or maybe realize your book isn’t worthy. It’s better to know this before you begin.

Personal branding

Start building a powerful and visible personal brand even before you begin writing your book, because it is going to be the most valuable asset you have to evaluate your audience, find your voice, sell your book, get reviews and get noticed by the press. I started building a powerful and visible personal brand years before I began writing my book and about a year before my book was done, I started preparing my audience for the content of my book. About 120 days before the release, I started telling my audience specifically about the book.

Blogging

Writing blogs relevant to your personal brand and book topic is the best way to find your unique voice, understand what exactly you are trying to say to the world and how your message resonates with your audience. Thoughts in your brain look entirely different when you write them down knowing other people will now read them. It is unlikely you will find success as a book author if you haven’t written a few dozen blogs first.

Seek professional help

Get help with your brand, messaging and your voice from experts. Since I was writing about single-fatherhood of five little kids, divorce, ex-wives and struggling businesses, how I crafted my words was crucial. I didn’t want to sound like an angry man or a superhero, and my branding expert was crucial in this process.

Ghost writers are real

If, after writing 25 blogs, you still aren’t good enough at crafting your message, hire a professional writer who has written in your subject area before. There is no shame in that. You don’t even have to list them as a co-author if you agree not to in advance.

Agents and publishers

I prepared an official book proposal, which includes an author’s bio, marketing plan, table of contents, summary of each chapter and a sample chapter — all before I wrote the book. I submitted it to a dozen agents, and one well-known agent accepted it. I was thrilled.

The agent submitted my book to many of the big publishing houses and smaller ones. I got rejection after rejection with a similar response: “You have a big personal brand, but we don’t know where your book fits.”

Eventually, a smaller publisher took my book and after going through six months of work with them, they decided my book wasn’t working for them for “legal” reasons and canceled the contract. I was less than thrilled. 

Self-publishing to success

Self-publishing is the best way to go for most first-time authors. There are many self-publishing platforms to use and you should research them carefully. I published my first edition with Bookbaby. But after learning the ropes, I published my second edition through Amazon Createspace for the paperback and Kindle Direct Publishing for the e-book. I had good experiences with them all. Bookbaby is more expensive to use but does most of the work for you. Createspace is less-expensive to print books and gives you all the control over your book you could ever want including the ability to quickly update the book itself and pricing. The best part of self-publishing is you keep more of the money from the sales. And since, you will be doing most of the book promoting anyway, why even bother with a traditional publisher?

Promote, promote, promote

Time to use that powerful and visible personal brand to promote your book. As soon as you know when your book is going to publish, you should start using all your social channels to get the word out. Email blasts, live video, requesting appearances on podcasts, and just telling everyone you know are all techniques you need to employ. Reach out to local bookstores and set up book signings timed to the release. Look for venues that are relevant to your book topic and see if they will let you speak to their audience. Be relentless and expect that it will take many weeks and months to continuously promote your book to get it to the top of the charts. This is as hard a task as it was to write the book.

Amazon book reviews

It is common knowledge that more reviews you get on Amazon, the more your book gets promoted by the Amazon algorithm and is likely to sell more. Some say the magic number is 50 and some say it’s 100. If you promote your book well, you will get some reviews organically – meaning readers will submit reviews on their own. But if you want to reach the 50 or 100 marks, you will have to solicit reviews one by one, repeatedly. Use that personal brand and personally ask people to buy and review your book. I spent time each day reaching out to anyone I thought would enjoy the book, and because I have a large social following, I was able to add an average of three reviews per day in the first month of release. This is a process you should continue through the life of the book.

Have a party

Plan to have a book launch party timed near the release of your book. It’s a fabulous way to generate interest in your book, get the attention of the press, and get a direct feel for how people view you and your book. This will be promotion money well spent and if you are able, look for a sponsor. My book party had over 75 people attend, I gave away 100 books, and I’m still having people contact me about the party and my book. The party also created a personal relationship with the attendees, giving you the opportunity to directly ask for book reviews. Finally, you have worked your ass off to get to this spot, and the party is a well-deserved reward for your efforts.

You can see now that writing a book and getting it to be a bestseller is not an easy task. It requires creative thinking, excellent writing skills, personal brand building and a truckload of hard work. But anyone can do it — you just have to ask yourself one question: “How bad do I want it?!”

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Virtual Enterprises International Teaches Kidpreneurs Life Lessons Through Starting a Business

April 17, 2018 by Asif Nazeer Leave a Comment

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Learning entrepreneurial skills at a young age can be incredibly beneficial, both for kids that end up running businesses as adults and for those who go on to pursue more traditional career paths. And one company is working to bring those skills to classrooms around the country.

Teaching Kids About Business

Virtual Enterprises International sets up virtual businesses in classrooms around the country and even in a handful of countries around the world. In these classrooms, students actually run hypothetical businesses using real world concepts. Each of them is assigned a role within the company and they have to learn how to work together, source products, market their offerings and complete all of the other essential tasks that go into running a business. The classrooms even connect with one another to form a sort of virtual economy.

Virtual Enterprises president and national program director Nick Chapman said in a phone interview with Small Business Trends, “It’s about learning business by actually doing business. We give them the opportunity to go hands on, fail, succeed and learn that way, which is so important. It offers much greater potential than simply learning from a textbook. They get to learn leadership, collaboration and communication skills by actually running meetings and completing projects and tasks that you wouldn’t get in a traditional class.”

The program’s goal isn’t necessarily to make more young people into entrepreneurs. The businesses are set up so students can try out different jobs and learn about potential career opportunities as well. But of course, by giving students a taste of what it’s like to run a business, some do go onto run their own — even in high school in some cases.

Jacob Norwood is one example of this. A student entrepreneur from V.R. Eaton High School near Ft. Worth, TX, Norwood serves as the CEO of Connocrate, a Virtual Enterprises business. But he and his classmates have also started an actual business with a similar focus, Canivet, a specialty coffee brand also donating a portion of its earnings to first responders.

Teaching Kids About Business: Kidpreneurs Learning Business Do's and Don'ts in the Classroom

Norwood acknowledges he’s always had some entrepreneurial qualities, but he didn’t learn how to apply them in a business setting or even really consider it as a path until he started taking his school’s business classes leading up to the VE business course.

He said in a recent phone interview with Small Business Trends, “The business academy has opened my eyes and showed me that this is something I can grab hold of and really pursue.”

Norwood and some of his classmates intend to keep the business going after they graduate and go off to college next year. However, he echoed Chapman’s point about the exercise in entrepreneurship being valuable even for the students who choose to pursue more traditional career paths.

He adds, “One of the biggest things you get out of the class comes from the the leadership and teamwork skills that are so necessary to make everything run smoothly.”

Virtual Enterprises is hosting a Youth Business Summit this April 18-19 in New York City where students act as participants in a trade show, participate in business plan competitions, and get the opportunity to interact with other student entrepreneurs around the country.

Images: VEI, Jeffrey Holmes; Top Image: Youth Business Summit 2016; Second Image: Nick Chapman (left) with students from Brooklyn


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