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Market research is a fundamental staple of business planning for companies of all shapes and sizes and across all industries. Most business owners realize this, but when it comes to execution, they lack direction or finesse. As a result, research is plagued with irrelevant or inaccurate information, and your marketing and advertising campaigns fail to meet expectations. 

Fortunately, there are some simple steps you can take to improve the quality of your market research.

Utilize video.

When you’re working with individuals, try to capture as much video as possible, using the video recording platform of your choice. It’s one thing to read a survey response from a participant who says they enjoy using your product. It’s another to see their face light up when they discover a certain feature or see them struggle in confusion when trying to figure out how to use it. Video can reveal truths that other tools can’t.

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Use both quantitative and qualitative data.

Many market researchers get stuck in one mode to inform their actions. Either quantitative or qualitative data takes precedence, but it is the combination of both that offers a clearer picture. Gathering numerical survey responses for the purposes of crunching those numbers algorithmically and generating graphs will reveal a certain type of data. In contrast, subjective data gathered from activities like reviewing how people respond emotionally to different questions, or how they behave when using your product reveals a different kind of results. The best course of action is to integrate both into your market research, getting the best of both worlds. 

Work with a market research expert.

It is always a good idea to work with an expert when engaging in market research. Depending on your budget and the nature of your business, this could mean working with a market research firm, hiring a full-time market research expert, or working with a consultant. 

Test under multiple conditions.

Just because a trend emerges under one set of testing conditions doesn’t mean it should lead to a universal conclusion. Try to run tests under a variety of conditions. You may seek out subjects to participate in your research in different ways. Seek feedback from different environments. Consider collecting data at different times of the day. Every variable you adjust could render significant and important information.

Look at demographics you might otherwise neglect.

Though knowing your customers is important, it is important to not get tunnel vision. Just because you strongly feel that one demographic will be key to your business doesn’t mean they’re the only demographic that matters. Consider multiple demographics, including demographics you had not previously engaged.

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Challenge your assumptions.

Bias can easily compromise your market research, even if you are utilizing tools to conduct research properly. One of the best things you can do to compensate for bias is to challenge your assumptions. Question your presumptions about the market you are researching. Put those presumptions to the test. Investigate ideas contrary to your perspective for insight.

Increase your market research sample size.

Generally, the bigger your sample is, the more reliable your data is going to be. If there are 10 million people in your target demographic, surveying all 10 million of them should render the perfect data set for product development. Merely surveying 5 of those people will not come close to accuracy or reliability. You’ll need to engage a significant sample set to achieve reliable results. 

Market Research Improvement Takes Time 

Your market research isn’t going to go from unreliable to accurate overnight. You will have to make gradual, iterative improvements. It’s on you to instate new protocols and invest in new modes of research until you have a system that works. Keep making adjustments as you learn new things. There will always be room for improvement.

Connecting with the right people at the right time takes strategy; strategy in your content and strategy to maximize your brand outreach. A marketing content strategy provides your company results across multiple platforms and in a variety of media content.

It can be easy for the planning stages of a marketing content strategy to feel overwhelming. But the effort you put in before implementation helps you clarify your goals and help ensure that your time isn’t wasted. Establishing the right balance of strong social media posts, email campaigns, blog posts, infographics, and video is complex. The pressure to continue to generate fresh and consistently great content can feel never-ending. Added to this, your budget can seem overstretched before you even get started. However, the rewards are massive for companies with an informed marketing content strategy.

With your success in mind, here are eight tips for putting together a strong marketing content strategy. Take charge of the power to deliver significant results to benefit your business.

1. Don’t Create Just for Creating’s Sake

With so many brands pushing out endless streams of content, it can be easy to fall into the trap of wanting to keep up. But if you are creating content just for the sake of it, your efforts likely won’t generate the results you want. Instead, focus on what your audience wants and needs from you and what you can truly deliver. When you identify key issues important to your clientele, you can more easily create content that will capture their attention and keep it. Understanding your customers helps you set reachable goals and create content specific to those goals. 

2. Communicate your Core Values

Your marketing content is the proverbial first impression potential customers have of your company before they decide whether to spend money with you. Therefore, it is essential that you ensure that your content clearly communicates your core values; what you care about. Your messaging must maintain a consistent voice that feels natural and authentic to your brand.

Do not fall prey to the temptation to create generic content that you believe will have mass appeal. Instead, work to create unique content in which your brand is immediately recognizable renders higher returns. Impressive results over both short and long terms come when your brand stands out from the competition.

3. Demonstrate your Knowledge, Expertise, and Insights

Markets are saturated with an unlimited selection of content to inform their consumer choices. So, it is vital that your marketing content delivers value that they cannot get anywhere else. Focus on creating content that showcases your expertise. Tailor your messaging to express what you know and how you are the best choice to meet their needs. The right balance will engage your audience.

4. Practice Non-Linear Storytelling

Storytelling provides brands with the opportunity to connect with audiences on an emotional level. However, the format and length of storytelling have changed over the years. Gone are the days of every narrative featuring a clear beginning, middle, and end. Now, communicating a single story across screens and platforms takes full advantage of the adage that one picture communicates a thousand words.

A marketing content strategy employing videos, infographics, gifs, memes and blog posts to specific sections of your audience ensures that your content resonates with as wide a constituency as possible. The diversity of media only helps reach more potential customers.

5. Consider your Customer Journey

Mapping your customer journey will help you to determine precisely how, when and where to connect with your ideal audience. Consider the thoughts, emotions, and expectations that your audience will have at every touchpoint. Use this information to guide your content and deliver relevant, engaging material at the right times.

6. Consider Content Destination

There are a variety of platforms and channels available that you might want to incorporate into your marketing content strategy. Although it is important not to spread your efforts too thinly, you should be targeting potential customers on a range of platforms that you know your audience likes to use.

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Always understand where your content will be published. This will allow you to tailor your output to each platform. Creating content that is relevant to the environment and context in which it will be published will make it far more effective and more likely to resonate with your audience.

7. Consider Evergreen Content

Many businesses begin their marketing content with either too many or too few ideas. In contrast, you must build evergreen content or content that is search-optimized and consistently relevant. Consider frequently asked customer questions or queries to help you to form a foundation of content that will continue to deliver value to your audience over time.

Start by considering broad themes your business hopes to address. From there, create a library of content that expounds on those themes. Focusing on evergreen content will help you to scale your marketing content library with pieces that can be repurposed again and again.

8. Discuss What isn’t Being Discussed

If you want to make an impact with your content, the best approach may be to target a niche that is currently being underserved by your competitors. Adopting a forward-thinking approach is an excellent way to demonstrate that you are an innovative brand with unique insight. Starting a conversation can give you more visibility than simply contributing to existing discussions. Just be sure you have support from solid research for any statements you make.

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It is not always easy to have the necessary inspiration to design, create, and implement Instagram advertising campaigns. Yet, the impact of successful Instagram campaigns is undeniable. As leaders of commerce, we must put all our effort into planning and creating the best Instagram advertising campaigns possible for the success of our companies and organizations. 

In this article, I will provide you with a brief analysis of what creative Instagram advertisements should include. I will also offer advice about where to find inspiration for a creative ad at any moment.

Return on Investment

To get started, let’s consider one of the social media advertising greats on Instagram. Abacus Agency is one of the leading Facebook and Instagram advertising agencies currently at work for companies and organizations like yours. The initial goal of the company was to drive better ROI (Return on Investment) through clients’ paid social ads. They quickly became the #1 Instagram Ad Agency because of their work. Just after two years of service, they have outlined the perfect formula to launch any Instagram Ad Campaign into trendiest seas.

By following the success stories of companies like Abacus Agency we will take a look at how you can offer creative Instagram advertisements to your potential customers.

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Basics of Instagram Advertising

You can learn from the best artists in the market just by looking at their ads. However, you must meet some basic requirements for your ads to get the best results. There are a variety of Instagram ad types, but successful ads share some common characteristics. For instance, Instagram ads should meet each of the following:

• 100% exploited text space (without exceeding 20% ​​in the image).
• Image quality attuned to the ad location (feed or story).
• Concise and direct messages.
• Optimal use of relevant #hashtags.
• A clear call to action

Gaining Inspiration

Every artist needs inspiration and the art of advertising is no different. Instagram ads must be visually appealing in order to gain the attention of potential customers. Here are some of the options for finding the images that will get you noticed.

Instagram’s Search Engine

Precisely, one of the best sources of inspiration for Instagram ads is the search engine of the social network itself. This works for two main reasons. First, this channel communicates with the main news and features of Instagram to design ads and advertising campaigns. Second, Instagram offers an extensive library of photographs and videos published by users. The images span any subject and can help spark ideas for your own ads. Simply search for keywords similar to your ad subject or sector and let the system (and the competition) work for you.

Photo Editing Blogs

Trending photography and illustration experts will help you generate ideas for all kinds of ads. These are professionals with an eye for creative ways to communicate. As they say, “an image is worth a thousand words”!  Let those who know imagery be your source and guide. For example:

• Adobe Photoshop blog | This is the leading photo editing software on the market. In its blog, Adobe Photoshop shares striking creations from image-editing professionals, as well as different uses of filters and contrasts applicable in Instagram Ads.
• Polaroid Blog | One of the maxims of this brand is design and aesthetic care. A review of their content will help you enhance your ad ideas, content, and format.
• PicsArt Blog | Here, you will find many ideas to create the best Instagram ads. 

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Established Brands and Influencers 

Undoubtedly, another good way to get inspiration for your Instagram ads is to research the profiles of the best influencer accounts on Instagram.

For example, GoPro is a manufacturer of cameras that shares with its Instagram community images with that special GoPro wide-angle perspective. Another company, Skyscanner, saturates its Instagram posts on spooky landscapes, impressive cities, and imposing monuments.

From these types of accounts, you can extract and be inspired by powerful, quality images. Mix, combine and tweak material and ideas until that “ah-ha!” moment happens.

Branding in Instagram

Acquiring a large image library can aid you in developing your ad campaigns. But that’s just a start. You must build your ad formula to engage users with image, text/messaging, and action.  You must also give careful consideration to your brand. Even in the most creative ad campaigns, you cannot afford for consumers to lose sight of your brand. Pay close attention to trends in design; colors and themes throughout the marketing world.

Understand that to create a long-lasting effect on consumers your ad will need to have meaning to their psyche. Consider successful advertising campaigns of famous brands that you have encountered. Each one has a consistent essence unique to them that connects with their type of consumer. That connection is also what you must create with your ad messaging. Think of it as a special creative touch that will make everyone say: “Oh, it’s you!”

Sequencing 

Your creativity must apply not only to advertisements but also in your daily stories and publications your own Instagram feed. To do this, keep your ad content related to your product/service themes to build harmony and consistency with the consumer.

For example, create and follow a sequence of media releases on a predictable schedule, then build ads that can be used in various areas on the Instagram platform. For example, offer – 2 videos, 1 graphic or GIF, and 3 publications per month. Your ad campaign will then use imagery pertinent to the sequence content while maintaining your branding.

The sequence that you set will subconsciously provide your visitors with a sense of connection with your brand. Additionally, the algorithms for their user feed will pick up their visit to your Instagram identity, and push your content to their feed. This increases the chance that your ad will be shared and engaged with.

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Current log analysis is rapidly changing. The process requires data analyzers to keep up with the best practices involved in log management and monitoring. Every organization is unique, and each environment will have its own requirements concerning log management. However, there are strategies and capabilities that transcend such differences.

Effective log analysis streamlines processes and adds value to IT and operations. Well-performed data analysis demonstrates where the logged environment performs in tandem with other IT and server systems. The proactive and continuous gathering of usable log data helps determine the capabilities of computer-based environments. With well-analyzed log data, IT professionals can keep systems functioning well for their clients and operating within regulatory requirements.

Here are some of the best practices you need to follow.

Choose Your Tools Wisely

Make sure that the log management system you use is the ideal solution for your individual needs. First, you must take inventory of your infrastructure. Consider what you need to gain from your analyses and how the log management tool will meet those needs.

Moreover, be clear about your logging demands prior to choosing log management tools. The wrong tool for your needs may be ineffective. However, a tailored log management tool can enhance your work and potentially make your life easier.

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Routine Log Checks

Be proactive about checking your logs. Many organizations make the mistake of neglecting their log data. This allows the wealth of information it contains to become obsolete.

On the other hand, effective log management can keep an organization on track to meet regulation and refine the scope of their work. This requires a regular examination of data in order to identify key trends. Routine log checks allow you to anticipate issues and opportunities in the future. Additionally, tending to log data can save money and prevent data loss.

Custom Alerts and Monitoring

Determine the various alerts your company needs for logged data in order to focus on security monitoring. Many alerts are simply based on compliance. However, this is not necessarily the best way to get the most out of your data. Alerts set on regular intervals will remind you to access and analyze your data. This will keep you at the helm of all your data can provide. Consequently, alerts help data environments function well. Then your team can take action to minimize risk and loss.

Stick to a Management Policy

Create and follow a procedure that includes details about how to complete day-to-day log collecting and reporting. Thereafter, look at reports as they are generated to check for consistency. Similarly, inspect reports when a procedure has failed. These simple and consistent checks will make your data work for you rather than against you.

Test Log Management Procedures

Ensuring that your logs are collecting the correct log data is important to running the best analysis possible. Therefore, check that your logs are collecting the information you need. In addition, check that logs are gathering the right events. A regular set of tests helps to ensure that the log management system and the analyses it provides is effective.

Log Management Security

Lastly, make sure that only a limited and authorized team of personnel are able to conduct log management. Too many people accessing the log collection and analysis tools can risk mistakes or modifications to the data environment. Such issues can lead to a failure of data integrity and the system as a whole.

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Is there a trade show or business seminar in your future? If so, why not plan now to bring along some personalized lanyards? They can help to promote your company while you’re there and long after the event is over.

How Can Personalized Lanyards Benefit Your Business?

Brand awareness plays a big part in the success of your business. Of course, as an astute business owner, you use online marketing to promote your products or services. However, it’s also important to introduce certain physical elements into your marketing strategy. These physical components will help to develop a more intimate connection between your customers and your brand.

Personalized lanyards offer businesses a unique and novel way to interact with their customers. The beauty of lanyards lies in how versatile they can be. For example, you can customize a lanyard to whatever specifications work best for your brand. Lanyards can beautifully and accurately represent your business. They will give you a quick and efficient way to increase brand awareness.

Here are four ways personalized lanyards can be beneficial for your business.

They Give You a Unique Networking Opportunity

Events and seminars are a great way to market your business and its product. At these events, it can be difficult at best to walk up to people and tell them about your company. However, a personalized lanyard with details about your company can gain a lot of attention.

Turn to a professional company such as Digital ID. They will provide you with an attractive design for your lanyard. A colorful and well-designed lanyard, with lots of eye appeal, will attract new customers your way. What’s more, it will be something you can take pride in.

Personalized Lanyards Increase Your Visibility

One of the biggest challenges every business faces is finding cost-effective ways to make their products and services more visible. New business owners, especially, can feel uncertain about which methods to choose. This is natural, because they want to get the highest return on investment.

Personalized lanyards, however, are a great way to market your business without burning a lot of cash. Not only are they affordable, but they are also highly effective. Plus, unlike digital or even traditional ads, lanyards last longer.

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They Improve Customer Loyalty

Acquiring customers is one thing. Earning their loyalty is another. But customer loyalty is one of the main factors in the success of any business.

You can use personalized lanyards gifts from you to your customers. On the other hand, what you are giving to your customers is something they can remember you by.

Haven’t you often looked at an ad and forgotten about it the next hour? However, lanyards work as a continual reminder. Your customers won’t forget you.

Personalized Lanyards Strengthen Brand Identity

Brand identity is hugely important to your company. Your brand name, logo, slogan, colors, mascot, and communication style all comprise your brand identity.

When your salespeople and other employees wear lanyards, they create a positive impression. Your personalized lanyards will express what your brand stands for and help to build your company’s image in the market.

The Bottom Line

As we have all heard many times, the first impression is the one that lasts. Build your brand identity and boost customer loyalty with personalized lanyards. They are a great way to create a positive and lasting first impression with your audience. 

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Background checks are a necessity, but they don’t have to be a chore. Because of advances in technology, information and records are much more accessible than ever before. Verifying work history and credentials is just the beginning of the results you can expect. Consider these guidelines for the process of running thorough background checks.

Ground Rules

Above all else, your company must follow certain rules when running a background check. These include laws concerning discrimination and fundamental civil rights. Key elements you must know:

• First and foremost, you must have permission to run the background check in the form of a signed waiver.
• You are not allowed to discriminate based on race, gender, sexual orientation, age, personal beliefs, or physical disability.
• You must protect the confidentiality and privacy of the applicant’s data.
• The Fair Credit Reporting Act (FCRA) governs all background checks, so get familiar with their guidelines.
• The US Equal Employment Opportunity Commission (EEOC) also provides guidelines to follow.
• Don’t forget to verify basic ID, aliases, and tax status for a person’s legal right to work, including social security validation.

Always discuss the results in a private one-on-one with the candidate, regardless of your hiring decision. Doing so gives the candidate a chance to speak on their own behalf.

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Criminal Background Check

A criminal records check is a background check basic. The criminal background check includes convictions for felony and misdemeanor offenses. However, these may including pending cases. This background check will scan criminal databases like such as the sex offender registry and terrorist watch list. Some background checks will include mugshots. You should bear in mind that these photos are taken upon arrest and do not prove the conviction of a crime.

Certain things don’t appear in standard criminal records checks. These include:

• Infractions and civil judgments
• Juvenile records
• Offenses older than seven years
•  Minor driving offenses

Credit Background Check

A credit check is completed through one of the “big three” credit agencies: Equifax, Experian, and TransUnion. Data includes the candidate’s credit score, loan default reports, collections activities, and public records on tax liens and bankruptcy settlements.

It’s important to keep in mind that as many as 25% of the population has a mistake in their credit report history. Take time to share any concerns that arise with the candidate for further discussion and explanation.

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Drug Screening

Part of your hiring process may include drug screening for illegal and controlled substances. This is not a part of background checks. In reality, drug screening can be a deterrent to potential candidates. In fact, many candidates bristle at the idea and won’t apply to positions requiring a drug screen. 

Additionally, laws regarding some substances are changing in North America. Cannabis laws are actively changing in Canada, parts of the US, and Mexico. You should consider whether to continue to screen for a legalized substance. Proceed with care!

Social Media Profiles

Surveys claim 70% of employers refer in part to potential candidates’ social media personas. However, the information you gather is less-than-ideal. Online identities can be aliased. As a result, you may never be sure that what you read was, in fact, posted by the candidate. Viewing a candidate’s profile also exposes you to all kinds of information you are not at liberty to consider. In short, it’s better to focus on the background check than on speculation from social media postings.

Nobody’s Perfect

This is a good axiom to keep in mind. The goal of running background checks is to find a candidate in whom you can place your confidence. They do not have to be the perfect model citizen. You are looking for character and sound judgment. Background checks are tools to enhance your ability to find the right candidate for you and your business. Use them well and responsibly as part of a larger process of hiring your best team.

As a business owner, keeping your employees, customers, and clients happy and engaged is your number one priority for success. Whether you have a wealth of experience behind you or you’re about to launch your own startup, here are five business skills that every business owner needs to master in 2019.

Motivating Employees

As the head of a business, all eyes are on you. For employee satisfaction, commit to providing effective motivation to your employees. A paycheck is not enough; employees must be led with enthusiasm and appreciation in order to accomplish tasks and reach fulfillment in their work. Their success directly impacts the success of your business, so this particular business skill delivers exponentially on the effort you provide. Giving your workforce a push in the right direction makes a huge difference in meeting your business goals.

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Planning Ahead

“Fail to prepare, prepare to fail.” – Benjamin Franklin

Every project deserves your best effort. Before any outcome can be realized, your time must be spent in the process of planning. This business skill can make or break a project before the work has even begun! 

Successful planning ensures that the project is completed on time and with excellence. Clients and stakeholders want to trust in your brand, so creating an effective plan for your work is your top priority. You cannot risk starting a project with your eyes shut. Take the time to plan so you may avoid potential risks and pitfalls to allow your project to run smoothly. 

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Marketing Skills

Knowing how to market and promote your business makes it possible for you to find and keep the customers you want. When it comes to your brand it’s important that you take every opportunity to get your business at the top of consumer awareness. Use social media to your advantage; creating branded business pages and ads. Set up a web presence that is easy to find and easy to use. Make sure that your messaging and branding is consistent across all platforms and that they give customers more of an insight into what your company is all about. Utilizing the right strategies can help build up a loyal following.

Networking Skills

The networking business skill has long been a staple of the successful business owner’s toolkit.  Word of mouth can make or break you when it comes to running a successful business. Remember, word of mouth can be positive or negative and customers are more willing today than ever to post their thoughts to your website, search engines, and social media. If you aren’t delivering a quality service, customers are more likely to leave negative reviews, which can tarnish your reputation.

Photo Credit: Pixabay on Pexels.com

Being professional, friendly, and attentive to whoever you meet is crucial. Take advantage of in-person and online networking to build your brand. When the feedback comes, knowing how to communicate effectively is key to diffusing difficult situations and attracting return customers. Every touchpoint with a customer or potential customer is important.

Time Management

Stakeholders and clients set the schedule of the work you provide as a business owner. The time management business skill will help you stick to the deadlines and avoid over-promising and under-delivering. Various project management tools are available to help keep you on track and ensure your projects run smoothly and efficiently. Use whatever tool assists you in keeping your commitments so you can build trust with those who make your business a success. 

Small business owners and leaders of large corporations use these business skills to accomplish their goals in business. Let 2019 be the year that you master these skills to enhance your impact and your success. 

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Building your brand is more than a one-day task. It requires much hard work, dedication, and teamwork. Moreover, planning to start a business without having a fool-proof idea about how you’re going to build your brand is not a good option.

There are two essential pillars of the modern startup. Those are your company’s recognized online presence and your customers’ experience of your company. When it comes to successfully building your brand, we have identified three powerful tools that can help.

1. TurboLogo Can Help with Building Your Brand

One of the first things you’ll need for building your brand is to create a logo. If you haven’t done that yet, look into the tool called TurboLogo. It’s easy to use, even if you have no design skills.

To create a logo on TurboLogo, follow these four simple steps:

• Type your brand name
• Choose colors and icons that are suited to your brand
• Customize the generated results
• Admire your splendid new logo

TurboLogo will give you high-quality images and backgrounds for your new logo. Plus, its user-friendly editor allows you a full range of creativity, so your logo design will help with building your brand. Give it a try here.

2. Build Your Brand with an Effective Social Media Strategy

The next thing to think about with regard to building your brand is how you’re using social media. This is because a well-defined social media strategy will help you achieve better connections with your target audience.

In order to do this, however, you’re going to need to gain users’ trust. So be sure to post relevant and useful content. Then people will come back for more and eventually become loyal to your company. If you’re having trouble finding compelling content to share, look for other social media tools to help.

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3. Get Your Team Up and Running

Another important aspect to building your brand is to make sure everyone on your team is on the same page. Team software such as Slack can help you to do this. Additionally, Slack offers cloud-based financial, operational, and workspace management solutions, whatever the size or type of your organization.

Specifically, there are three things Slack offers to any enterprise:

Smart Scheduling

Smart scheduling is an intelligent scheduling tool to help you and your team know exactly who is doing what and when they’re doing it.

Always-On Connection

Get a real-time view of who is clocked in and who is not.

Communication Tools

Communication tools allow you to deliver schedules and site instructions to your workforce.

Overall, Slack software allows for greater productivity and higher quality work.

Greater Productivity and Higher-Quality Work

When your team is running at peak efficiency, your customers will get better service. And top-notch customer service is essential to building your company’s reputation and your brand.

Take Advantage of These Three Powerful Tools for Building Your Brand

Building a brand takes time. However, if you do it right, you will firmly establish your company in such a way so as to naturally connect with your customers. The three tools discussed here can help to put your company in a strong position.

Additionally, you might want to consider working with other professional agencies. This can help you to reach your goals faster. For example, a marketing agency can conduct research on your behalf and help you to define your goals.

So make building your brand a priority today. Then start using one or more of the three tools we suggest here, and soon you’ll be well on your way to having a strong brand in the marketplace.

Take any department of a modern organization—be it marketing, human resources or purchasing—and you’ll see how important processes are to the smooth running of the everyday tasks and activities that make up the team’s operations. This is certainly the case for the finance function, where there are many sequences of events that are performed over and over again. These finance processes form the backbone of the whole organization’s business operations and contribute massively toward the company’s effectiveness and efficiency.

Working
with Finance Processes on a Small Scale

The finance function is home to a number of processes. For instance, there are employee expense payments, budget approvals, and capital expenditures. And these are only a few. Companies still trying to coordinate and manage these processes manually inevitably fall into the same difficulties.

First, manual workarounds such as spreadsheets, basic databases, or even paper files aren’t sufficient to the tasks at hand. They don’t have the capacity to harness the unpredictability of the steps in the process, for one thing. What’s more, they cannot automate them to minimize or even eliminate human involvement. This means that employees have to input data, oversee it, analyze it, and even make manual calculations. And this is just so they can carry out a basic task that is performed numerous times a day.

Needless
to say, this is not an effective use of trained, skilled finance team members’
time, time that could be put to much more value-adding use.

RELATED ARTICLE: 5 BUSINESS GROWTH STRATEGIES

Moving
Toward Automated Finance Processes

Utilizing some form of automation within the finance function can be an effective way to streamline and simplify existing processes. Moreover, automation can have the following benefits:

Improved Efficiency and Visibility

Automation helps the finance team to spot blockages or bottlenecks in the process. Then they can take proactive action to address these issues. This reduces delays. What’s more, since the steps in the process are clearly defined, everybody knows what to expect and where each task is. This naturally improves overall efficiency and productivity.

Better Compliance

It is so much simpler to track error rates or potentially fraudulent activity using automation. This usually goes hand-in-hand with in-built permissions and access rights. Additionally, back up processes can be called upon if issues arise. From an employee perspective, the clearer guidelines and policies that result from automated processes often lead to a better understanding of each process. Therefore, all employees spend less time on approvals.

Finance
Processes That Benefit from Automation

Practically any multi-stage activity carried out in the finance function can be moved from a manual to an automated process. Here are some of the most common ones:

• Purchase orders
• Employee expense reimbursement
• Employee timesheet approval
• Budget approvals
• Capital expenditure

Financial automation tools can work in partnership with your organization to identify the most value-adding processes in your organization. Then it can help you create personalized automated workflows that match your company’s procedures perfectly.

The
Process of Automation

Implementing automated workflows into your finance team is usually a straightforward task. However, it is one that benefits greatly from being planned out in advance. In this way, you’ll be better assured of getting the best results. Moreover, you will minimize disruptions to ongoing business. Here are the key steps in the planning process:

Lay Out Your Objectives

Before embarking on automation, consider key issues. For example, what do you want to achieve from automation? What is your potential budget? Also, estimate the costs and anticipate any possible issues that might arise as a result of automating your company’s processes.

Plan the Process

It’s a good idea to draw up a road map of each process flow that you want to automate. Among other items, this can include the individuals involved at each stage, as well as the documents or software that will be needed throughout the process. Additionally, involve your team as much as possible during this step. In this way, you will ensure it is as accurate and realistic as possible.

Test the Process

Before going live with a new automated process, run some trials within a test environment to check its performance with no risk. This is a great opportunity to make any adjustments you deem necessary.

Implement Your New Automated Processes

Make sure your team is trained. Moreover, be sure to inform the rest of the business and other stakeholders such as clients about what to expect. Then, put your new processes into action in real-life situations.

Review and Improve

Finally, analyze the performance of your new automated processes regularly, especially immediately after going live. You need to ensure that they are meeting the needs of the business. Thereafter, make tweaks where necessary based on feedback and performance.

Take
the Next Step Toward the Benefits of Finance Process Automation

If your organization is still struggling to coordinate and manage the range of essential processes within its finance function, give automation a try. See for yourself how it can help your business to grow and thrive. At the very least, it will improve productivity and efficiency. Financial process automation is the perfect way to streamline and tighten up your existing finance processes. It will reduce your error rates, improve efficiency, and save you money along the way.

About the Author

Dinesh Varadharajan is Vice President at Kissflow. He leads the product management team that looks after the company’s flagship workflow automation product. Dinesh is a hands-on executive with a wide range of experience working with leading-edge technologies, developing great products, and mentoring highly productive teams. He has profound knowledge in design and technical implementation of BPM solutions.

LinkedIn: https://www.linkedin.com/in/dineshvaradharajan/

Featured image from Tim van der Kuip on Unsplash

Whether businesspeople are made or born is up for debate. But being in business means making an impact in the world with your ideas. A business is a long-term investment that requires dedication and constant development. If you are considering starting a small business while studying or when you complete your studies, there are many things to consider. 

Running your own growing empire has its advantages, but it also comes with immense challenges you need to be ready for. However, with the proper tools, your small business can make it to the big time. Here some small business tips to help you hit the ground running.

RELATED ARTICLE: HOW TO PREPARE TO RUN YOUR OWN BUSINESS WHILE STILL IN SCHOOL

1. Get Started with Your Small Business ASAP

Starting as soon as you can, put yourself in a position where you can assess the true value of your small business idea. Nowadays, the business model has transformed immensely. 

For example, it is no longer the norm to present a complete and final product to your market. In fact, some innovators suggest a minimal viable product (MVP). This is a product with the basic functionalities that lacks all of the bells and whistles the eventual product will have. An MVP allows you to grow with your market and make changes according to demand. 

2. Be Ready to Take the Risk

If you are not up for the risk, then you are probably not suited for the cutthroat business world. Taking the leap to get your small business started is a brave step that requires your dedication. Investing money and time into your idea is about focusing on the rewards, yet understanding that it might not work out. 

Get over that fear and operate from a place of reasonable faith. In business, failing is part of the process. It will leads you toward growth. This is because each failure carries a lesson, so don’t let fear deter you from your journey. 

3. Don’t Be Afraid to Make Mistakes

As mentioned in the second point, mistakes are part of the journey. However, fear of making mistakes can debilitate the aspiring entrepreneur. Just remember that many small businesses start off with a series of failures, until they become a success. 

However, successful companies also continue to experience failures dictated by different circumstances. You need to remain true to yourself and your business goals to overcome factors around you that stifle your growth. Anyone from friends, family, and co-workers may disagree with a certain course you are taking. However, whatever happens, always remain true to yourself. 

4. Create and Mold Your Own Life Along
with Your Small Business

Since you are still studying, being a little ahead of your peers with your career might mean you will miss out on some of the fun things young people do in college. Additionally, if you get started right away, you might struggle to balance your studies with running your small business. 

If that is the case, you can get your personal assignment assistant with an online writing service. That will help you to get your dissertation, thesis, college essays, and other writing work done on time.

Additionally, in creating a life for yourself and taking ultimate responsibility for your life and your small business, read business articles to get inspiration from the greats.

Image from Austin Distel on Unsplash

5. Work Hard, Play Harder

Being in business is different from studying or working a full-time job. Mainly this is because there are no holidays, paid time off, or someone to monitor the work you put in. Therefore, working hard is important, but remember to give yourself a break now and then. So take up a new hobby or find other healthy ways to blow off steam. 

As a businessperson, your efforts may not translate into monetary gains immediately. A steady balance allows you to constantly refresh your mind and focus on success. A good idea here is to use business automation apps to stay on top of your work with your small business.

6. Be Open to New Ideas in Your Small Business

Our ideas are like our children. We want to
keep them close to nurture them and watch them grow. Unlike children, however, you
have the option to let ideas go when they are not growing as well as you
expected. So if one of your ideas is no longer serving your small business, feel
free to let it go.

Of course, it is hard to let go of something we are passionate about and it might sting a little bit. However, business is no place for ego or pride. Pay attention to feedback from your clients to continue servicing their needs. From time to time, this might require an entire overhaul of certain ideas and elements of a product or service.

Just remember that when you can let go of an idea that’s no longer serving you, you will make space for a new and better idea to come along.

7. Seek Allies in the Business World

Networking is so important for a growing businessperson. Networking allows you to connect with like-minded individuals who likely face similar challenges in the small business world. Having allies in business will allow you to draw important lessons and find ways to business success.

8. Find a Mentor to Walk You Through the Process

Finally, it is a good idea to identify a mentor in your field so that you can learn from them. Stepping into the world of business requires the ability to be preemptive about challenges you may face. As you create your long-term plan upon entering the business world, a good mentor will help you to have a good understanding of your challenges and your potential growth points. 

There are good mentors out there who will be willing to hold your hand through the process and give you feedback on possible strategies. As an aspiring businessperson, you need to keep your finger on the pulse of development and make sure that you are on course with your goals for your small business, and a good mentor will help you to do that.

About the Author

Emma
Rundle works as a business consultant for small and mid-size businesses and
startups. She has a special interest in startups backed by student entrepreneurs
and has helped them to scale up various companies ranging from organic food to
online writing services. In her free time, she likes to play tennis and try her
hand at gardening and writing blogs.