Successful Blog

Is Your Business Focused on Big Data?

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abigdata

The amount of data that is created and owned by businesses has increased dramatically over the past few years, and this has made data management a more challenging task for many companies.

However, there are new technologies available to enable businesses to get the most out of their data, one of which is big data.

Here is a look at how adopting a big data solution can be beneficial to your business:

Overview of Big Data Management

Big data management refers to the act of organizing, administrating and governing large quantities of data, both structured and unstructured.

It aims to improve the quality and accessibility of data, so that it can be used for big data analytics and business intelligence.

With an effective big data management strategy, businesses can locate valuable data in large pools of semi-structured and unstructured data from a wide range of sources, including system logs, call detail records and social media websites.

Benefits of Implementing a Big Data System

Better Customer Service

To get the most out of your big data system, you need to stay focused on the big data bottom line.

A big data solution can help drive up sales by facilitating better customer service. With such a system in place, your employees will be able to perform real-time checks on your customers and provide helpful advice on products and services.

Additionally, big data can unite the physical and digital shopping spheres by allowing you and your employees to provide useful information about your physical stores through the Internet.

Enhance Product Development and Marketing

Another benefit of big data is that it enables you to gain a better understanding of your target consumers’ behavior and perception of your brand and products, and segment them according to demographic groups and geographical locations.

With such information, you will be able to develop products and services that can meet their needs more effectively, as well as fine-tune your marketing campaign to achieve better results.

Improve Decision Making

By implementing a big data solution, you will have easy access to accurate information on almost every area of your business, ranging from operations to product inventory. This enables you to identify problems and make well-informed decisions to improve various aspects of your business.

Big data also makes information more easily available to your employees, which can help them perform their duties more competently.

Big Data Trends in 2014

New solutions are constantly being developed to improve the effectiveness, efficiency and security of big data systems. As such, you can expect to see significant changes in big data trends in 2014.

According to expert predictions, these changes may include the transitioning of big data from hype to actionable intelligence, increasing use of data by traditional companies to generate revenue, growing importance of visualization tools as an IT expenditure and greater implementation of predictive analytics and machine learning.

In order to get maximum value from your big data solution, you need to make sure that you have the right combination of big data analytics tools, processes and people.

Photo credit: Forbes.com

About the Author: John McMalcolm is a freelance writer who writes on a wide range of subjects, from Cloud computing to social media marketing.

Tips to Successfully Selling a Business

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It can be a challenge to own multiple businesses, but it can also be profitable and rewarding.

However, there may come a time to sell off one business so you can focus on the others. But choosing one to sell and completing the transaction can be difficult.

Here are some tips to help you make a successful sale:

Recognizing the Challenges

A person who owns multiple businesses is called a serial entrepreneur.

They have unique challenges that other business owners may not face. It is important that they recognize those challenges to make each business successful.

Business owners must learn how to manage their time and delegate tasks to others.
While this is important for all business people, it is critical when you own more than one. You also have to make sure you are spending enough time with each business.

How to Choose the Right Business to Sell

One of the signs that it may be time to sell off one of your entities is that it takes up too much of your time and doesn’t allow you to focus on your other companies. It’s better to let one go than to lose them all because you can’t pay enough attention to them.

A business that has reached its peak may be ready for new ownership.

You want to sell before it is on a decline, while it still has a strong value.

If you have a partner, you will have to reach the decision together. This can be challenging if each of you have a particular favorite. However, having a partner can also be beneficial because it is someone you may be able to convince to buy your share.

Many serial entrepreneurships involve partners, such as The Light Group with Andrew Sasson founder and Brian Massie, that owns multiple restaurants in Las Vegas.

When one partner wants to sell, he may have an automatic buyer in his partner.

Selling Your Business

You will need to create a sales agreement once you find a buyer.

This will provide the sales price, list of inventory; covenant not to compete, a list of fees, and many other forms.

It is best to work with an experienced attorney when selling your business. You want to make sure you comply with all of the rules and regulations in your location and for your industry.

You will also have to consider the impact to your staff and how you will handle things with them.

In some cases, you may be able to get an agreement from the new buyer about keeping all or part of the staff on after the sale. But this may not be binding unless it is part of the actual agreement.

Also remember that you will need to decide when to tell your staff and how to transfer tasks. This can be more difficult if you have employees who work in more than one of your companies. There may be some anger or jealousy between employees.

It is essential to think through your decision to sell one of your businesses and to understand each step of the process.

While the hardest part may be in choosing which company to sell, it is only the first step of many.

Photo credit: frontrangebusiness.com

About the Author: Joyce Morse is an author who writes on a variety of topics, including SEO and small business.

Where is Workplace Drug Testing Most Prevalent?

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Drug testing has become more popular among U.S. employers that are looking for new hires.

According to the Society for Human Resource Management, 57 percent of American businesses required all job candidates to pass a drug test in 2011, and another 10 percent required testing for certain applicants.

Some types of businesses are more likely to do drug testing than others.

This will depend on the services the business provides. It also depends on the area where an applicant lives – some areas are prone to have more illegal drug use than others.

Meantime, employers may choose to test once as a requirement for employment while others may choose to perform random drug tests.

Among certain industries more likely to test:

Manufacturing

Jobs that require employees to use machinery for manufacturing are more likely to have more drug tests required for employees or new hires.

The number of accidents that occur when employees are using drugs are typically higher than for employees that do not use any mood altering substance.

Some of these jobs require the use of dangerous machinery may have random drug testing and almost always require a drug test if an accident does happen. It is very important for drug testing to be on a regular basis in manufacturing jobs.

Healthcare

Drug tests are part of life for people that work in health care positions.

It should not come as a big surprise this is important, as patients should never be left in the care of someone that is under the influence of any substance. Patients rely on the staff of health care facilities – any employee that is using drugs can be a danger to the welfare of patients.

This is why almost all staff undergo drug testing. As with manufacturing jobs, when an accident with staff or patients occur, there may be required drug testing.

Employers

If you are an employer, you may wonder if you should perform drug testing.

For those employers in an industry where employees will be operating machinery – such as trucking company, delivery driving, manufacturing equipment, or caring for patients in a healthcare facility – then yes, you should.

Many drug testing services exist that can help you decide how and when you should test employees. These services are aware that some people will try to cheat the system through cleanses or even purchased urine. Many services have ways to detect these cheats. Random tests can avoid this cheating.

Before instituting a drug testing policy, you must speak with current employees and let them know there will be testing, and provide forms for them to sign their consent.

Employees

Are you a job applicant?

You might be seeking a job where there are no drug testing protocols. Many people that do not use drugs choose to not take these tests as they feel it is an invasion of privacy.

Prescription drugs may show up on the test and this can allow people to find out about a problem with depression or other illness that the employee does not want as common knowledge.

There are cases of false positives due to certain medications and this can even lead to job loss. In most tests, urine testing is the most common form of test.

Employee or employer, you are going to want to weigh all your options on drug testing. Many new hires automatically assume there will be a drug test, and many times it may help you make the right choice in the hiring process.

As a business owner or employee, what has been your experience with drug testing at your company?

Photo credit: mybinc.com

About the Author: Tina Samuels writes on spokeo removal, human resources, small business, and marketing.

As a Boss, How Should You Lead By Example?

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abossBeing a strong leader for your employees has many benefits.

You’ll have improved employee morale, which will lead to increased productivity and lower turnover. You’ll also have employees who are more dedicated to the company, and who will help you find ways to make it grow.

Here are a few ways you can be a strong leader for your workforce:

Take responsibility

If you make a mistake and blame it on one of your managers or employees, you’ll lose credibility immediately.

Instead, admit it when you’ve messed up.

Admitting your mistakes and explaining what you’re going to do to avoid making them in the future boosts your employees’ trust in you. It also encourages them to do the same, and an environment in which everyone is honest about their mistakes makes learning from them and growing much easier.

Be Inspirational

The atmosphere in any company begins with the boss.

If you want your workers to be motivated and passionate about what your company does, you need to set the example with an inspirational attitude.

Show your passion for how your company helps its customers, and your excitement over a media mention or trade show sponsorship.

Your attitude will infect your employees — for good or bad.

Pitch In

A boss who insists on employee overtime, then takes off early to hit the golf course, will lose employee respect, very quickly.

If your company is facing a challenge and there’s hard work ahead, pitch in and help.

You’ll show your employees that you expect everyone, no matter their position, to be a part of the team. You’ll also earn their respect by showing them you’re not afraid to get your hands dirty.

Don’t Withhold Praise

Some bosses feel that the only time they need to give their workers feedback is when a correction is necessary. But this attitude can create a feeling of resentment among your workforce, which can affect productivity.

An employee who feels like a valued member of the team will work harder to help the company achieve its goals. So be sure to recognize all workers who do a good job, and don’t save praise just for your best and brightest.

Foster a Collaborative Environment

Just because an employee isn’t part of your management team doesn’t mean he or she doesn’t have good ideas for helping your company grow. Encouraging an environment of collaboration, and listening to your workers when they come to you with an idea, can boost morale and productivity.

You’ll also be encouraging workers to collaborate with each other in order to solve issues and get big projects done. Providing constructive feedback on their efforts can further boost employee confidence and keep everyone working together to help you meet your business goals.

Being a leader doesn’t just mean telling everyone else what to do.

By showing your employees you value their input and aren’t afraid to do the hard work alongside them, you’ll earn their respect, and encourage them to work even harder for you in the future.

As a boss, what kind of grade would you give yourself at the end of the day?

Photo credit: Forbes.com

About the Author: Freelance blogger Angie Mansfield covers a variety of subjects for small business owners. From business growth to marketing to online reputation management, her work will give you tips to keep your business running smoothly.

Make the Right Call When it comes to Legal Advice

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Having the right attorney to handle your small business’s legal affairs can literally mean the difference between success and failure. But don’t make the mistake of waiting until you’re in legal hot water before finding a lawyer to represent you.

Paying an attorney to oversee and review all legal matters pertinent to your business operations can help to protect your company’s interests and keep you out of trouble.

The fees you’ll pay for this kind of ongoing legal service are relatively modest when compared to the costs you’ll incur if you put off getting legal representation until you’re already in trouble.

What to Look for

What should you look for when you’re shopping for legal representation?

Like medicine, the legal profession has become increasingly specialized over the past couple of decades. Fortunately, there are some law practices and individual attorneys that specialize in business or corporate law.

If your business operates in a small town or rural area with a relatively limited selection of lawyers to choose from, you should shop for an attorney with knowhow in areas of the law most relevant to business.

In an article for Entrepreneur.com, Cliff Ennico, author of “Small Business Survival Guide,” suggests you look for lawyers or law groups that can provide guidance in the following key areas:

  • Business Organization –  Of particular value if you’re just starting up your business, an attorney familiar with the different types of business organizations and the pros and cons of each can help you decide whether it’s best to set up your company as a partnership, S- or C-Corporation, or limited liability company. Once you’ve decided what best fits your needs, the attorney can prepare the necessary papers needed to make your business legal.
  • Contract Law – Having a lawyer prepare or check over contracts that cover transactions between you and your customers and suppliers can ensure that your interests are protected and that the contract language is legally sound.
  • Intellectual Property – If your company’s goods and/or services are essentially the product of in-house creativity, you’ll want an attorney who can register those products for copyright or trademark protection. Failing that, look for an attorney who has an ongoing relationship with a lawyer specializing in the protection of “intellectual property.”
  • Real Estate: – Even though your business itself has nothing to do with real estate, you will find it necessary to negotiate leases for office or retail space, production plants, and/or warehouses. An attorney can help to get you the best possible deal and ensure that the lease agreements covering such transactions have no legal loopholes that could prove problematic in the future.
  • Licenses and Taxes – No matter where your business is located, local and state licenses probably will be needed to legally operate your company. Your attorney should be familiar with regulations so that all necessary licenses and permits are in order before you open for business. While your in-house bookkeeper or outside accountant will probably prepare your tax returns, your attorney can help get your business registered for state and federal tax identification numbers.

Legal services aren’t cheap.

Generally speaking, large law firms bill at higher hourly rates than smaller law offices. However, larger law firms are more apt to have attorneys in virtually all specialties needed to address your company’s needs.

Seek Out Recommendations

If you want the best legal talent you can afford, talk to other business owners in your community to get their recommendations of attorneys or law firms that have served them well in the past.

If you’re new in the community, you might want to use the services of a lawyer referral service that can steer you to a select number of attorneys that specialize in the types of legal services you require.

Shopping for a lawyer based on ads in the Yellow Pages or TV commercials is definitely not recommended.

Retainer Agreement

When you find the attorney or law firm that seems right for your business, you can draw up a retainer agreement that outlines the types of services you will require, the rate at which such services will be billed, payment and billing terms, and guidelines that govern the renewal or termination of the agreement.

Lastly, you will probably be asked to pay a retainer fee that will be deposited into the trust account of the law firm and against which future bills for services rendered can be charged.

Photo credit: retailtrust.org.uk

About the Author: Jay Fremont is a freelance author who writes extensively about a wide array of business and financial topics, including where to look for the best personal financial advice.

Working Moms That Are Making a Difference

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Often that big idea strikes, and it’s those take charge people that follow them through to fruition to create a successful small business.

In many cases, those people are moms that see an opening and a need for a certain niche, and then turn it into something big.

In doing so, these women don’t give up their “momminess,” they just add “mompreuneur” as one of the many hats they wear.

It All Starts With Passion

The key to becoming a successful small business owner is doing something you love and find passion in. Being good at it helps, too.

Whether you are artistic, practical, crafty or persnickety, you probably have some good ideas rolling around.

Check out these notable moms who have started small businesses and then turned them into great big giant businesses:

  • Heather Allard is a mom of three and successful entrepreneur who, among other successes, is the inventor of Swaddleaze and Blankeaze, wearable swaddling blankets sold in more than 200 stores around the world, including some of the big name catalogs like One Step Ahead. She saw a need when her children were young to find something to help them sleep, and followed up on it, turning her blankets into a small business and then a thriving company with a worldwide market. She also began TheMogulMom.com, a community website for momprenuers.
  • Kelly Lester is another mom who saw a hole and filled it. She is the owner and creator of EasyLunchboxes.com and Art Plates. Art Plates was created after Kelly noticed the bland light switch plates everywhere, so she designed plates with a creative flair. Later, as her children brought their lunch to school, she wanted simple and healthy food without all the extra packaging, hence EasyLunchboxes. Now she owns a top seller on Amazon.com.

Both of these women used their momminess to spot a need for something useful to their families, and then used their drive and creativity to fill that hole, tuning a vision and a need into successful businesses.

Social Media is a Great Marketing Tool

Another thing both of these moms, along with many other small business owners, did was use the heck out of social media.

With blogs, websites, online ordering and social media, they marketed their product and themselves. Moms also usually have great networks, an essential piece of starting a business and getting your name and product out there.

Small businesses begin with a vision and a passion.

With those two things, and a thirsty drive and maybe a Facebook or Pinterest page, your creative insight could turn into a successful small business, and you will still be home to cook dinner for your family and maybe squeeze in a soccer game.

And if all goes well, your small business may end up being not as small as time goes on.

Photo credit: liberatingworkingmoms.com

About the Author: Heather Legg is a writer and mom of two, who covers a variety of topics ranging from parenting to social media to how to become a surrogate mother.