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

Archives for November 2018

The Sneaky Way SEO Spam Is Costing You Business — And How to Stop It

November 9, 2018 by Asif Nazeer Leave a Comment

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November
9, 2018

6 min read

Opinions expressed by Entrepreneur contributors are their own.


Small businesses are losing business and potentially harming their reputations because of SEO spam cyberattacks. These attacks are known as search engine poisoning (SEP) attacks. As the name implies, the desired outcome (i.e., action on objective) of this attack is to poison your website results on search engine result pages (SERP).

Related: Malware Hits Everyone From Small Businesses to Big Government. What Are You Doing About It?

To understand this attack, we have to step back to the basics with SEO. SEO stands for “search engine optimization.” It is the work that goes into your website to help you rank higher when customers search for your business online. Search engines like Google and Bing use special software that quickly reviews or “crawls” the content on websites and then serves up the most relevant sites for a particular query. When your site’s keywords are properly optimized, you’ll get more visitors, which ultimately means more potential customers and more income.

There are all sorts of tricks and tips to improve your SEO ranking — but that’s another article for another time. These SEP attacks materialize in what is known as SEO spam. It’s when an attacker injects your site with unwanted links and keywords. Hackers can insert links anywhere on your website, and depending on the tactics they employ, they can embed these links into the meta data or into your website’s content. Hackers use basic HTML anchor elements to link to other pages. Some of the more common locations might be header and footer files because they load with each request, or in specific widgets or menus. But, we see them sprinkled in titles and content in the body as well.

Perhaps the most pervasive of SEP attacks is the injection of pharmaceutical ads, but these days you can see injections for things like casinos, fashion and a wide range of other industries — including things like services to write your school papers. In all these instances, attackers find a way to inject spam keywords, often attributed to backlinks to their sites of choice.

Related: How to Protect Your Personal Brand’s Website From a Cyber Attack

For example, if a local Seattle marketing consultant’s website experienced SEO spam, it could soon stop showing up in relevant search queries, such as “Seattle marketing consultant” because search engines would instead pick up fraudulent or malicious keywords. In digital marketing, we call this “losing your ranking,” or being knocked further down in the search results for a truly relevant query. Ultimately, this form of cyber attack can cost small-business owners and entrepreneurs business because customers are no longer finding them online.

This type of attack is so effective and interesting to attackers because it’s often very difficult to detect (e.g., they are often injected in code that renders off screen) and built on an affiliate business that cares only about impressions, not conversions. What this means is that attackers make money based on the traffic (impressions) they generate for their customers. As long as they are generating traffic, they are happy. It’s such an effective attack that in a recent study we conducted of 60,000-plus infected sites, we found over 73 percent of the infected sites were affected with this malware type.

Negative impact of SEO spam

SEO spam can also hurt a business’s reputation and mislead potential customers about the content of the site. This is because negative and incorrect keywords could direct straight to the business’s website, giving off an unprofessional or even fraudulent appearance. For example, a high-end salon could have the incorrect keywords “cheap sunglasses” associated with its website. If this happens, visitors may think the site is a scam, or misinterpret what the business actually is. One of the ways that Google will punish your site is flagging it as potentially compromised:

Related: 7 Surprising Places Hackers Hide

Here are a few tips that should help small business stay ahead of SEO Spam threats:

1. Register with Google’s webmaster tools. It’s easy, and it’s free. Google is one of the largest search engines and its software is constantly crawling the web. If you register with their tools, it will alert you when it finds an issue — a full 48 hours before it flags it to the public or begins changing how your site shows up in search results. This is a great preventative step that costs nothing to enact.

2. Proactively protect your website. Websites are under attack on a daily basis, whether you deploy something on the server, application or in the cloud; you must deploy some form of a protective solution. My recommendation is to go with a cloud-based firewall, as the name implies it is a wall that helps keep attackers at bay. It actively adapts to attacks and helps keep your site spam free.

3. Deploy a monitoring service. These types of services monitor your website proactively and identify red flags or warning signs, which you would never see or recognize on your own, including monitoring for SEO spam. This is complementary to Google’s webmaster tools. Partnering with a security provider helps provide peace of mind to small-business owners knowing they have a team with expertise to help them in case anything should go wrong.

4. Monitor keywords: This is a great way to get cross-functional teams involved: Have your marketing teams actively monitor your traffic and keyword performance. They are often on the front lines and should be able to notice suspicious behavior like a spike in keywords in industries you don’t participate.

Security is very nuanced and constantly evolving. The online threats and issues we were dealing with just a year ago are different today. While this form of cyber attack isn’t discussed as much as phishing or malware attacks, it’s absolutely something all website owners should be aware of. Consider following the simple steps above to ensure no SEO spam is living on your website. Also, remember the value of good SEO optimization to keep new relevant visitors coming to your site.

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A Beginner’s Guide to Planning the Company Holiday Party

November 9, 2018 by Asif Nazeer Leave a Comment

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If you’ve ever seen the American version of The Office TV show, you probably remember the “Party Planning Committee.” This was a group of employees who backstabbed each other in order to gain the title of “Head of the Party Planning Committee.” In reality, not many people are that keen on spearheading the job of planning the company holiday party. As a matter of fact, the job often falls to someone with little to no experience in party planning.

Fear not, however. This article is here to provide an introductory guide to the party planning process. Specifically, this is a guide to planning a company holiday party. From inception, to venue booking, all the way to the big day, this article will walk you through the process.

 

Starting Early

The real key to planning a successful holiday party is to start right now. (Well, not right now. You can finish the rest of this article!) Starting early has numerous benefits. It allows you to book desirable venues while their dates are still flexible. It allows you to lock down caterers with enough time to poll everyone’s dietary preferences. And, crucially, it allows you some breathing room. Above all, don’t leave planning to the last minute. That’s how holiday parties get stuck at the office. And no one wants to have a company holiday party where they work.

 

RELATED ARTICLE: 4 WAYS TO MAKE YOUR EMPLOYEES HAPPIER AND HEALTHIER

 

Creating a Viable Budget

Talk to management about your company holiday party budget. Once you’ve secured a number, begin itemizing everything you will need. Seeing as this is an introductory guide, it can’t get into the minutiae of event budgeting. However, we encourage you to check out this article from Event Manager. It details the process and provides handy budget templates. It is more about “for profit” events. However, many of the tenets and tips are still useful.

 

Choosing a Compelling Venue and Activity

Don’t make the same mistake as past holiday parties that opted for a conventional, conservative venue. Instead, go bold. For example, why not take everyone to axe throwing at BATL (short for Backyard Axe Throwing League)? There, everyone can let loose and let out the year’s stresses. Something like axe throwing combines a venue and an activity. This engages attendees beyond mere chitchat, which is always a good idea. Don’t be afraid to step out of the ordinary.

 

company holiday party 2

 

Floating Dates and Creating a Guest List

Once you have chosen a venue, pick a general time frame for the party. Then float the dates past your colleagues. Use a Doodle poll to gather data on which dates work best for people. Moreover, ask people to state their first, second, third (and so on) preferences. Once you have figured out the best possible date, you can make your guest list. Check with management whether plus-ones are allowed.

 

Booking the Company Holiday Party

With a date and a working guest list, you can strike while the iron is hot and book your venue/activity. In the worst case scenario—your venue is booked for that day—you will need to go back to the drawing board. Then, either choose a new venue or begin the whole process of polling a new date again. That’s why it is imperative that before you start floating dates, you check with the venue about general availability.

 

Choosing a Caterer

As dietary restrictions multiply in numbers and grow in complexity, the old order-pizza-and-it-will-be-fine mentality won’t work anymore. Where does that leave the gluten-free attendees, the lactose-intolerant attendees, or the vegan attendees? Choose a caterer, whether it be a catering company or a restaurant, that can offer a wide range of options to satisfy all possible diets.

 

Looping in Management

Once you have booked a venue and finalized the catering, management will want to know the general shape of the evening. That way, they can plan possible speeches, awards, team building exercises, and so on. It might be worthwhile, therefore, to draft a rough timeline of the evening. When the day rolls around, this timeline will help you keep everything moving on time, making for a smooth company holiday party.

 

Sending Invites

You know your office best. Depending on the formality of the workplace, you can either go for a card, or simply stick with an email. (Increasingly, the latter mode of communication is preferred.) Let everyone know the date, the time, the venue, the dress code (if there is one), and the policy on guests.

 

As the Big Day Draws Near…

It’s never a bad idea to follow up. Follow up with the venue, follow up with the caterers, and, importantly, follow up with attendees to find out if you need to revise your guest list. Last-minute cancellations are an unfortunate fact of life around the holiday season, when family plans take priority.

With enough planning and proactive thought, all there is left to do on the day is to pour yourself a drink and enjoy the evening.

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How Energy Works on the Blockchain and Why Entrepreneurs Should Pay Attention

November 7, 2018 by Asif Nazeer Leave a Comment

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Most of us can’t control where our power is coming from, yet. But, with blockchain, that day is coming; and businesses will benefit.


November
7, 2018

5 min read

Opinions expressed by Entrepreneur contributors are their own.


The UN’s Intergovernmental Panel on Climate Change recently issued a stern warning: End humanity’s dependence on fossil fuels within a decade or become directly responsible for not halting irreversible climate change.

Related: #5 Ways Through Which Biotech Entrepreneurs are Going to Enhance Human Lives

Clearly we have to pay attention to climate change. And, here, one of the biggest areas we can change is the power sector; that’s because, currently, 33 percent of the world’s power comes from oil, while coal is responsible for 28 percent, and natural gas, 24 percent. Cutting out fossil fuels and switching to cleaner, renewable sources of energy could do a lot to impact climate change, but we may need to rethink some parts of our power grid.

Power grids in industrialized countries were developed to convey a steady stream of electricity to as many people as possible and provide that steady stream of energy in the most reliable way possible. While that was certainly a noble cause, the architects of this system failed to take into account that such ease of use would result in ever-increasing demand for power, which would in turn result in tons of carbon dioxide being dumped into our atmosphere every year.

In the United States alone, 35 percent of CO2 emissions comes from power generation.

Now we know better, but doing better isn’t looking as easy. Today, decades after scientists first sounded the alarm bells about climate change, alternatives to coal and oil are still costly and have poor adoption rates. Worldwide, only 3 percent of our power comes from renewable sources, 7 percent from hydroelectricity, and a measly 0.2 percent from solar.

Solar adoption is on the rise, but it can be cost prohibitive for many people. Just a few solar panels can power an entire home or office, and 1 gigawatt of solar power generation can prevent 690 metric tons of CO2 from entering the atmosphere. But even a standard system for a small house can cost an average of $13,188, while a system for a large house can be more than $20,000.

And even at those prices, there are complications and regulatory hurdles that can make the cost savings negligible, further discouraging adoption.

What Europe is doing to further blockchain’s positive impact on the environment

Already in Europe, there are multiple villages in the Netherlands where blockchain technology is being used to generate, share and store renewable energy among the homes, each of which has different combinations of energy production technology. Residents have solar panels, heat pumps and more and are governed independently of the main power grid.

So far, these power co-ops are able to produce about 90 percent of the power residents need, drastically reducing their reliance on fossil fuels.

In Europe, too, Eurelectric, the trade association of electric distribution operators for the continent, has been monitoring blockchain’s progress in modernizing the power grid and recently released a report about its findings. The report concluded that asset ownership of the power grid would remain an important task, and blockchain technology would be unlikely to change that aspect of the electric companies’ business model.

What blockchain could do

Blockchain could, however, impact the generation side of power distribution.

In fact, in 2017, a pilot program was launched using IBM’s blockchain framework to stabilize the power grid in Europe, a first step in incorporating renewable and clean energy solutions into the power grid. One of the main problems with implementing new sources of power generation is that they can be unpredictable in the volume of power they will output in a given day.

That means that on a cloudy day, a power grid would have to be able to shift from solar to an alternate source or battery backup. This is where blockchain smart grids come in handy on “dumb” existing power distribution networks — the smart grid can tell when there is a shortfall in one part and switch sources without the need for constant human intervention.

Related: 5 Industries Likely to Be Disrupted by Blockchain

In undeveloped areas of the world, blockchain smart power grids can be used to solve the “last mile” problem in universal power adoption, by pulling power from multiple nearby sources. It can also give people the power to choose where their energy is coming from. Users on smart power distribution grids can choose how much of their power to gain from renewable sources based on market availability, cost, reliability and other factors.

This is an alternative to just relying on power distribution operators to sell them whatever those operators are generating. Smart grids can also help people make the most efficient use of their resources by forecasting energy needs and storage use.

Want to learn more about the potential of blockchain smart power grid technology to move your business forward? Check out this infographic from Lition:

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20 Awesome Tech Gifts for the Small Business Owner On Your List

November 7, 2018 by Asif Nazeer Leave a Comment

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In addition to purchasing gifts for your team and other business contacts, the holiday season can also be a great time to find deals for all the tech you may want to use throughout the year.



2018 Tech Gifts

Whether you’re looking for business gifts for other small business owners or just trying to buy something for yourself, here are 20 tech products that may pique your interest.

Echo Dot

20 Awesome Tech Gifts for the Small Business Owner On Your List - Echo Dot

The Echo Dot is a device that gives users access to the Alexa voice assistant in any room. It can be useful in both home and office settings.

iPhone XS

20 Awesome Tech Gifts for the Small Business Owner On Your List - iPhone XS

If you’re looking to purchase any smartphone business gifts this season, the iPhone XS is one of the most popular models currently.

HP OfficeJet Printer

20 Awesome Tech Gifts for the Small Business Owner On Your List - HP OfficeJet Printer

If you know someone who needs a new printer, this OfficeJet model is a solid option for personal use or a home office.

Multi-Device Keyboard

20 Awesome Tech Gifts for the Small Business Owner On Your List - Multi-Device Keyboard

A keyboard can make using a tablet, smartphone or other device much easier. This version can connect to multiple devices via bluetooth, providing a convenient way to work from anywhere.

Chromebook

20 Awesome Tech Gifts for the Small Business Owner On Your List - Chromebook

A Chromebook is a small version of a laptop that is easy to transport and relatively inexpensive. It can help you or another gift recipient stay connected even when not in the actual office.

Ring Video Doorbell

20 Awesome Tech Gifts for the Small Business Owner On Your List - Ring Video Doorbell

Improve home or office security with this high-tech doorbell. This version from Ring includes a video feature that shows you who is at the door when someone rings the bell.

Apple Watch

20 Awesome Tech Gifts for the Small Business Owner On Your List - Apple Watch

For those interested in smartwatches, the Apple Watch integrates with iPhone and includes a fitness tracker and other advanced features.

VR Headset

20 Awesome Tech Gifts for the Small Business Owner On Your List - VR Headset

Virtual reality tech is becoming more and more advanced. This headset can connect to iPhone and Samsung smartphones to experience gaming, video content and more.

Ring Light

20 Awesome Tech Gifts for the Small Business Owner On Your List - Ring Light

Fix all those poorly lit selfies or make those livestreams look a bit more professional with this ring light. It illuminates the face evenly and is a must for any entrepreneur with a serious social media presence.

Charging Station

20 Awesome Tech Gifts for the Small Business Owner On Your List - Charging Station

Entrepreneurs have tons of different devices to keep charged all the time. This charging station provides a way to get power to all of them at once.

Drawing Tablet

20 Awesome Tech Gifts for the Small Business Owner On Your List - Drawing Tablet

For any designers, hand letterers or business owners working on new branding, a drawing tablet can really come in handy. This model is compatible with software for everything from logo creation to animation.

Wifi LED Light Bulb

20 Awesome Tech Gifts for the Small Business Owner On Your List - Wifi LED Light Bulb

For a smarter way to light the home or office, this wifi-enabled light bulb can be controlled using Amazon’s Alexa from anywhere.

Portable Projector

20 Awesome Tech Gifts for the Small Business Owner On Your List - Portable Projector

To share presentations or even enjoy entertainment from anywhere, this mini projector can connect to your smartphone or a variety of other devices.

Dog Camera

20 Awesome Tech Gifts for the Small Business Owner On Your List - Dog Camera

If you need a clever gift for any dog owners on your list, this camera is meant to help you keep an eye on your furry friends even when you’re away from the house.You can also use it to give them treats from afar.

Bluetooth Speaker

20 Awesome Tech Gifts for the Small Business Owner On Your List - Bluetooth Speaker

To listen to music anywhere, this speaker connects to your smartphone via Bluetooth and provides a crisp and clear sound with easy volume controls.

Wireless Headphones

20 Awesome Tech Gifts for the Small Business Owner On Your List - Wireless Headphones

For an easy and convenient way to listen to music or podcasts while working out or taking care of business tasks, these headphones are specifically made to be comfortable and convenient.

Gaming Mouse

20 Awesome Tech Gifts for the Small Business Owner On Your List - Gaming Mouse

For any gamers on your list, this mouse has an ergonomic shape perfect for long gaming sessions and seven buttons to make controls simple.

Roomba

20 Awesome Tech Gifts for the Small Business Owner On Your List - Roomba

An automatic vacuum can be helpful for any business owner or individual. The original Roomba from iRobot can work with your smartphone and work on a variety of flooring styles.

Portable Photo Printer

20 Awesome Tech Gifts for the Small Business Owner On Your List - Portable Photo Printer

To easily print photos for marketing materials or personal use, this portable device connects to your smartphone and prints on sticky back paper.

Mobile Wifi Hotspot

20 Awesome Tech Gifts for the Small Business Owner On Your List - Mobile Wifi Hotspot

Small business owners often need to be able to work from anywhere. This mobile wifi hotspot enables you to bring a connection with you anywhere you go.

Photo via Shutterstock


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Small Businesses Shouldn’t Be Impacted by Tariff Battle, White House Spokesman Says

November 6, 2018 by Asif Nazeer Leave a Comment

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Small Businesses Shouldn't Be Impacted by Tariff Battle, White House Spokesman Says

In a recent discussion on the state of small business, White House National Economic Council Director Larry Kudlow insisted the impact of the current trade war between the U.S. and China on small businesses would be minor. Kudlow went as far as to say the economic growth would remain strong.

Kudlow and Bluemercury Co-founder and CEO Marla Beck discussed the factors that matter most to small businesses at The Washington Post’s The State of Small Business recently. Small Business Trends attended the event to find out more about the current state of the big things on the radar for small businesses like wages, taxes and hiring.

Kudlow is the Assistant to the President for Economic Policy and Director of the National Economic Council. He began by making it clear he didn’t see the current tariff battles between China and the United States as particularly worrisome for small businesses calling any possible effect on the economy “very modest.”

Economic Growth of 3% Expected

In fact, he even went on record forecasting the current rate of economic growth at 3% was something they could expect into 2019.

“We will put out our budget and while I don’t want to give away the family jewels, three percent is a good number to think about,” he said at the discussion held at the newspaper’s offices on Nov 1.

Tariff Battle Impacts Small Business

Despite these reassurances, the current trade war between the two countries has been a concern for a number of American small businesses like farmers and those in other industries like manufacturing. In response to the tariffs they see as a drag on their operations, groups like Tariffs Hurt the Heartland, Farmers for Free Trade and American For Free Trade have sprung up.

Job Surge Seen As Evidence of Optimism

However, Kudlow cited a Washington Post article on the current job surge for blue collar workers and the fact the wages for the group were growing faster than their white-collar counterparts.

“That suggests to us that the business tax reforms and tax cuts are working,” he said. The Tax Cuts and Jobs Act came into effect this year.

Kudlow also took sides when it came to the idea of implementing a federal minimum wage, calling it a terrible idea and saying it would damage small businesses particularly.

Healthcare and Technology Also Discussed

On the healthcare front, another area where there’s been some uncertainty for small businesses, while the administration has taken steps toward replacing Obamacare, Kudlow said there were no plans to touch the larger entitlements, namely Social Security and Medicare.

Co-founder and CEO of Bluemercury Marla Beck was another panelist. She stressed, among other things, the importance of technology to small business success generally and how critical social media had been to her niche specifically.

“For beauty, Instagram provides a marketing opportunity that didn’t exist before,” she said. “It’s very democratic and you have a lot more diversity in terms of what’s available. It’s fundamentally affecting the categories of business.”

Instagram Creates Whole New Business Models

She also pointed to facial masks and lipstick as two of the categories that have been fundamentally changed by this social media tool. Beck also said Instagram has created whole new business models for entrepreneurs to take advantage of.

“There’s even a brand called Winky Lux that built their whole business via Instagram and now they’re turning the retail model on it’s head. They have a store in New York City where they charge you $10 to get in but every room is Instagramable,” she said.

Social Media Streamlines Customer Feedback

She says that because Instagram gives access to customer feedback right away, it’s even sped up the pace for changing her merchandising.

“It used to be we’d go into the stores and talk to our customers, interview them and even email them and now you can look everyday to see what’s trending,” she told one of the moderators.

Image: Washington Post

This article, “Small Businesses Shouldn’t Be Impacted by Tariff Battle, White House Spokesman Says” was first published on Small Business Trends



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5 Ways to Help You Boost Your Conversions on Instagram

November 6, 2018 by Asif Nazeer Leave a Comment

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Some 74 percent of millennial Instagram users have made a purchase on the platform. If you’re not thinking about conversions for those users, you should be.


November
6, 2018

5 min read

Opinions expressed by Entrepreneur contributors are their own.


Instagram isn’t just for sharing selfies, brunch photos and cute pics of your cats. This popular social media platform can actually drive sales for your business. In fact, according to a study of 2,000 Instagram users by Dana Rebecca Designs, 74 percent of millennials surveyed, 63 percent of Gen Xers and 54 percent of baby boomers said they had made a purchase based on Instagram.

Related: 6 Ways to Convert Your Instagram Audience into Customers

Still, if you have an ecommerce business, you can’t just slap a photo up on Instagram and expect to make a bunch of money. So, how can you improve your posts and convince users to buy your product? Here are a few simple tips to help you become a selling-sensation on Instagram.

Create a business account.

If you haven’t switched your regular Instagram account into a business account, you’re missing out on a ton of features that will boost your conversions. Not only are you able to measure your results and learn more about your followers and what types of posts they like but you also get features that are designed for selling. For instance, business accounts have the ability to add a link to their Instagram Stories so that users can “swipe up” to buy.

Standard Wines uses the “swipe up” Story feature to lead its followers to its website to shop.

Image Credit: Sprout Social 

Some 15 percent to 25 percent of Story viewers,, according to the Brandwatch blog, swipe up to follow a link and engage directly with a brand’s website. That’s a ton of potential new customers you can attract using this convenient and engaging feature. Don’t forget, though, that not everyone is aware of the feature, so occasionally include a call-to-action telling people to swipe up to buy.

Related: 10 Instagram Tools to Help You Build Your Following in 2018

Add a link in your bio.

Not only does your post need a stunning image, but it also needs a caption that will speak to your audience members and a call to action to lead them to take your desired action. If you want to increase conversions on Instagram, tell people where to go and what to do next — don’t leave it up to them to guess.

Instagram doesn’t allow you to place links in your posts (only in your stories if you have a business account), but that doesn’t mean you can’t have a call to action. Add a link to your website in your Instagram bio and remind people in your posts to check out your website by clicking on the link in your bio.

Use Instagram Live.

Instagram Live is a great strategy to use if you want to boost your sales. Instead of just posting a photo of your product on Instagram, you can use Instagram Live to show off your product in action.

Sephora uses Instagram Live to show off what it sells. It does live demonstrations of the product so that make-up fans can see exactly what they’re getting before they buy, which helps ease the mind and makes it easier for them to click that “Add to Cart” button.

Image Credit: Later.com guide to Instagram marketing 

Instagram Live is also a great way to connect with your followers and customers. Users can comment and ask questions in real-time, which helps them build a trusting relationship with your brand. The more users feel connected to you, the more likely they’ll be to become a customer.

Run Instagram retargeting campaigns.

Many businesses are missing out on the opportunity to convert users who previously visited their site and expressed interest but left without buying. Usually, those potential customers would be lost forever, but with Instagram retargeting, you can “follow” those users who abandoned you and show them targeted ads on Instagram to convince them to return.

Not only does Instagram retargeting keep your brand top of mind, but it allows you to show highly-specific ads to users at the perfect time. For instance, if a visitor is browsing the shoe section of your website, but leaves without buying, retargeting can follow that user to Instagram and show him or her an ad for your shoes. Instead of users abandoning your site, or their carts, for good, they’ll be reminded to return to you and place an order.

Share user-generated content.

Connecting with Instagram influencers is an awesome way to show social proof and increase conversions. But, if you want a completely free social proof strategy to drive sales that’s just as effective, share user-generated content.

Secret Wood, a handmade jewelry company, regularly reposts photos from happy customers showing off their beautiful new piece.

Image Credit: Secret.Wood Instagram page 

When you share photos from your satisfied customers, other users on Instagram who were previously curious, or perhaps hesitant, will be more willing to buy from you after seeing how others are using and enjoying your product. Bonus: Your customers will love that you featured them on your Instagram; just be sure to give them appropriate credit.

Related: 7 Easy Ways to Win More Conversions on Social Media

Over to you

Now that you know how to rock Instagram with posts that convert, this social media platform will be your new favorite place to win sales. Don’t wait any longer; start using Instagram now and watch users and followers transform into loyal and frequent customers.



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Is It Causing Damage to International Trade?

November 6, 2018 by Asif Nazeer Leave a Comment

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The US-China trade war has done more than just ruffle a few feathers in recent months. For Asia-Pacific traders and producers, the idea of an ongoing long-term trade war is becoming a reality. Moreover, the situation is unlikely to ease off for at least a few years. So we spoke to Deepesh Patel at Trade Finance Global (TFG) to ask him what this trade war means for international trade. We wanted to know how trade flows could change.

Patel explained that global markets are now preparing for a full-blown trade war. Initially, banks did not feel the effect of trade tensions. However, the World Trade Organization, or WTO, recently reported softening trade flows as trade tensions continue. These trends appear to be driven by a decline in export orders.

trade war 2

WTO Indicator, 2.10.18. Source: WTO

 

What Is Happening?

The current trade war between the United States and China began in January 2018. At that time, the US imposed a tariff on solar panels which the US was importing from China. Beijing responded in kind with similar but opposing measures. As this trade war continues to escalate, both countries are prepared to raise tariffs a further 25% in January 2019.

China tends to work with manufacturers and suppliers of the smaller developing Asian economies such as Bangladesh and Taiwan. As confidence in the market slips, traders in those countries have become more cautious, slowing procurement in China. In domino fashion, South Asian suppliers are beginning to suffer from a dearth of orders as producers see lower prices for their goods.

Nonetheless, US consumers would be hit by increased costs. That’s because many US-based hardware companies source their components from China. In early September, Apple’s CEO Tim Cook wrote about his opposition to these trade tariffs in a letter to the United States trade representative.

China has little room to negotiate. That’s because there are only a few goods China could impose new tariffs on. However, it could look at increasing tariffs on some other goods. And it could place unfavorable taxes and charges on US companies that are based in China.

 

RELATED ARTICLE: GO GLOBAL: 6 KEY BENEFITS OF EXPANDING YOUR BUSINESS INTERNATIONALLY

 

Globalization, Nationalism, and Internationalism

Therefore, companies around the world are beginning to prepare for what looks like a gloomy winter ahead. That’s because trade animosities are not limited to only China and the US. Earlier this year, Singapore announced trade tariffs on more than 900 goods in an attempt to prevent a weakening of the rupiah, its local currency. This is despite the fact that Singapore is often hailed as a beacon of free trade among the Tiger economies.

In May 2018, loan books showed positive growth. Moreover, investments in projects and infrastructure were booming. Favorable interest rates and credit availability completed the positive outlook. However, fast forward just a few months and we see a market preparing for a storm. This is particularly true within the commodity finance space. Here we see a slowdown in larger, longer-term contracts.

 

The New Normal

Navigating the stormy seas of trade and supply chain finance in a new era of trade wars is no easy task.

Tariffs will certainly affect the supply chain of the debtor. Here, it’s likely that both financiers and insurers will look at the effect this trade war could have on a business before they make any decisions about lending. Additionally, the effect of the wider trade war could affect global growth. Moreover, when growth weakens, insolvencies will probably increase. This means credit limits could decrease while the cost of capital increases.

Therefore, if you are a business owner or treasurer in a business, consider the effect of these new tariffs on your company’s profits and losses. You might also want to identify alternative suppliers across different markets. Additionally, consider and begin to plan for the potential effect on your business of financing your future operations.

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5 Ways This Veteran Used His Military Experience to Grow a $3.5-Million Beard Grooming Business

November 5, 2018 by Asif Nazeer Leave a Comment

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Charlie Moyer’s Badass Beard Care is the culmination of a lifelong obsession.


November
5, 2018

4 min read


Credit Charlie Moyer’s father for sparking his interest in all things beard-related. “I was really just curious if I would look like my dad, because I had never known him without a beard,” says the military veteran and founder of Badass Beard Care, maker of all-natural beard grooming products. “I’d wanted to grow my beard out since I was able to grow facial hair.”

Moyer’s dreams of growing what he calls “god-like facial hair” were put on hold when 9/11 happened, and he enlisted in the U.S. Coast Guard. “I grew my beard out whenever I could,” he tells Entrepreneur, “while underway on our ship, or on leave. But the longest I was ever able to do it was about two weeks.”

Related: The Most Successful Companies Led by Entrepreneurs 

After being medically discharged in 2014 due to injuries sustained while serving, Charlie was finally able to start on his personal beard journey. He quickly realized, however, the products out there weren’t quite good enough, and he began making his own oils and balms. Today, Badass Beard Care offers premium beard oils, balms, waxes and washes in 13 scents, deodorant, tools and more.

Image credit: Badass Beard Care

How did Moyer go from experimenting at home to forming a business that grossed $1.5 million in the first year and is projected to gross $3.5 million in year four? Thank the time he spent in the Coast Guard. As we celebrate National Veterans Small Business Week from November 5 to 9, learn how Moyer’s military experience helped define his entrepreneurial journey.

1. He listened to his commanding officer.

“My wife was not keen on the idea of me growing my beard out, so she insisted that I get some kind of product to make it softer and look well groomed. I couldn’t find anything in the stores, and online products had hit-or-miss reviews, so I decided to make my own.”

2. He shared his product with fellow vets.

“That’s really how this turned into a business, sharing samples at the local veteran’s center. A little product goes a very long way, so I was happy to share. Soon after, they started asking to purchase some for friends and family, and even their roommates who tried the samples started asking to make purchases. I eventually put the products online so that I could just mail the products, which made it easier.”

Related: How to Start a Business With (Almost) No Money

3. He knew how to adapt.

“The ability to adapt and overcome is something that I attribute to my military service, and that has been a big help with learning everything there is to know about running a business. I think it also helped me to gain a sense of self-accountability, which is extremely important in the success of a small business.”

4. He utilized federal programs.

“A lack of experience in retail, business or entrepreneurship can be a hinderance. However, there are several local and federal programs designed to help vets transition into the civilian workforce, and even to start a business. There are also reduced or waived fees in some cases that can help get the business off the ground.”

Related: 22 Qualities That Make a Great Leader

5. He understood the two keys to success. 

“A good product and great customer service. Businesses grow with word of mouth more than anything else, and reviews can make or break you. Customer service is the key to making people want to talk about and share your product or service. It shows in reviews and repeat purchases. And remember, a well-groomed beard invites confidence, and people see that confidence. Any beard can be badass; all you really need is to believe it yourself.”

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SBA and VA Celebrate National Veterans Small Business Week

November 5, 2018 by Asif Nazeer Leave a Comment

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Did you know a military veteran owns 1 in 10 small businesses in America?

In total, that comes to 2.5 million small businesses across the country. That’s 5 million jobs in the U.S. and more than $1 trillion in sales every year.



National Veterans Small Business Week

It’s impossible to ignore the impact our military veterans have on our business community. That’s why the U.S. Small Business Administration celebrates National Veterans Small Business Week, this week from Nov. 5-9, 2018, just ahead of Veterans Day on November 11.

“As we approach Veterans Day and National Veterans Small Business Week, I encourage all Americans to thank those who have served our country in uniform – and to support their continued success as civilians,” SBA Administrator Linda McMahon wrote in a recent blog post.

To honor NVSBW, the SBA is hosting scads of events across the country. You can check out events close to you or being hosted virtually by checking out this listing.

The SBA has several programs in place to help veterans adjust to civilian life by guiding them to start their own business.

Last week, McMahon and Dept. of Veterans Affairs Secretary Robert Wilkie announced a new 7-month pilot program that takes those programs a step further.

SBA and VA Celebrate National Veterans Small Business Week

“The SBA and VA will develop and launch an intensive entrepreneurship training program for veterans, helping them improve their management and executive leadership skills. The two Agencies will work together on shaping and scaling this new, in-depth program, and I look forward to our collaboration,” McMahon says.

She also thanked President Donald Trump for OK’ing the funding for this pilot program.

“During their military service, these veterans defended the Nation at home and abroad, protecting our freedoms and very way of life with courage and tenacity,” Trump said in a statement released by The White House this morning. “As small business owners, they continue to contribute to the strength and prosperity of our Nation with their entrepreneurial spirit and innovative ideas, achieving tremendous success in industry.”

Here’s a look at what programs and services the SBA and VA are partnering to bolster with this new pilot program:

SBA’s Office of Veterans Business Development: This office, and the 22 Veterans Business Outreach Centers across the U.S., provide resources to military veterans and their spouses who are interested in starting their own business.

Boots to Business: The Boots to Business program runs educational classes at military facilities across the country and around the world throughout the year. There are about 700 classes hosted any given year, according to the SBA.

Service-Disabled Veteran-Owned Small Business program: This program is designed to help small businesses owned by military vets who are disabled due to their time in service. It helps these entrepreneurs get their businesses certified to qualify for federal government contracts.

In addition to these programs from SBA and VA, there are plenty of other resources for military vets and their spouses wanting to start their own business. Check out:

20 Resources for Veteran Business Owners

And if you’re already a business owner and would like to hire a military vet to be part of your growing team, don’t forget that there are many unemployed military vets. Check out this great list:

15 Benefits of Hiring Military Veterans

“This week in particular, we honor the critical role that veteran-owned businesses play in the success of our economy and of our Nation as a whole. The contributions of our veterans in the Armed Forces and in business have helped to build and preserve America’s greatness, and we owe them a debt of gratitude we can never repay,” The White House says.

Photo via Shutterstock
Image: Small Business Administration


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Best Business Books 2018: s+b’s Top Shelf

November 5, 2018 by Asif Nazeer Leave a Comment

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PwCstrategy&

Articles published in strategy+business do not necessarily represent the views of the member firms of the PwC network. Reviews and mentions of publications, products, or services do not constitute endorsement or recommendation for purchase.

strategy+business is published by certain member firms of the PwC network.

© PwC. All rights reserved. PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details. Mentions of Strategy& refer to the global team of practical strategists that is integrated within the PwC network of firms. For more about Strategy&, see www.strategyand.pwc.com. No reproduction is permitted in whole or part without written permission of PwC. “strategy+business” is a trademark of PwC.

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