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How to Boost Productivity in 2016

We all experience those days where we feel like we’ve been super productive and have managed to check off a bunch of tasks from our to-do list. But if you feel like these days are few and far between and you’d like to up the ante on a more consistent basis, it’s time to adopt a new approach to productivity. Whether you need to get organized in your personal or working life, laying down ground rules for yourself and considering the following tips could work wonders.

When it comes to business, competition is fiercer than ever: you might have rivals undercutting your prices, you could be a bricks and mortar store pressurized by internet-based sellers, or perhaps you’re struggling to get a grip on your processes, marketing plans or even employees. By upping your efficiency stakes, working in a more agile fashion, and simply getting more work done more quickly, you could find that you’re holding the key to solving your problems.

Your issues with productivity might be personal, or they may well stem from your staff. As a small or medium-sized business owner or manager, you can’t afford to sit back and let your own inertia or disorganization, or your employees’ lack of dynamism, drag your company down. Take action and start getting to grips with your workload and help your business get 2016 off to a far more efficient start.

Take time out first thing

Okay, admittedly taking ‘time out’ sounds counterintuitive for increasing productivity, but hear us out. By taking a few minutes at the start of every morning, you’ll be getting the day off to a calm and orderly start, thereby increasing the chances of you being more productive, as opposed to running around like the proverbial headless chicken for the rest of the day.

Part mindfulness and part preparation, begin by emptying your head of any thoughts. Be in the moment and spend a minute or two breathing deeply. Next, consider the things most playing on your mind in relation to what needs to be done either today or in the near future. Jot them down on a piece of paper, followed with a short outline on how you are going to tackle them. Then set your mind to going forth and making those resolutions happen, one by one.

Quit multitasking

Some reports say that multitasking can negatively impact on your productivity by as much as 40 percent. When we’re taking on more than one task at a time, the perception is that we’re killing it productivity wise and getting loads done. The reality is that we’re spending the majority of the time jumping from one thing to the next and not fully focusing on any of them.

You need to exercise willpower to commit to ‘singletasking’ but before long it should come as second nature. Pick one thing that you are going to work on and stick to it until you have finished, or at least done everything you can for the time being. This includes not checking your email during that time – surely one of the biggest productivity sappers of all time. If the temptation is too strong, log out of your inbox on your computer, and set your phone to silent if you have audible alerts configured. If you’re worried you’re going to overlook something during this time period, use an online or physical notepad to note down spur of the moment thoughts or ideas.

Reassess your working hours

It’s no secret that the traditional 9 to 5 is on the way out. Being connected and contactable around the clock is putting paid to that, but is being constantly online actually counterproductive? How effective are you really at 11pm at night when you’re slumped in front of The Walking Dead with a beer and a spreadsheet full of data?

Take a tip from the latest round of startups that are taking a sledgehammer to the idea that we need to work around the clock, and are instead turning the working week on its head. The CEO of one rising startup has gone as far to institute a five-hour workday that runs from just 8am to 1pm, taking into account that studies show people are more productive earlier in the day. The theory goes that making people sit in an office for 8 hours a day, whilst giving them ample time to be productive, equally gives them just as many hours to waste time. A shorter working day could instill a greater sense of urgency in employees, who in turn respect the company’s consideration of their personal lives and work harder.

Depending on your business, changing your working hours may not be practical, but it could still be food for thought – and adopting a singletasking approach and planning your day ahead calmly and clearly is achievable and will never hurt.

If you’d like to find out how implementing better IT and more efficient procedures can help you beat the productivity blues, get in touch with us today.

Published with permission from TechAdvisory.org. Source.

Making the most of Google Analytics

Understanding how your visitors are using your website is one of the most important things you can do to optimize your online presence and generate more leads and revenue. Google Analytics remains the top analytic tool, allowing you to keep track. Yet many companies tend to focus on the overall performance without taking the time to understand other key metrics that contribute to the end result. Here, we’ve compiled a list of Google Analytics’ metrics that are worth knowing about.

What exactly is Google Analytics?

Google Analytics is a free website analytic product offered by Google. It is an application that collates visitor data from your website and provides basic statistics and analytical tools for search engine optimization (SEO). The data is used to generate reports that give you insights as to how your visitors are engaging with your website.

With Google Analytics, you can analyze your traffic to discover whether your target market is finding your website, how they’re finding it, and if they’re taking the actions you expect them to take while on your site. By tracking and analyzing your traffic you can increase the engagement and enhance your marketing strategies.

Google Analytics’ Key Metrics

Navigating Google Analytics can be mind-numbing, since you are likely to get lost in its many features, variables, and settings. Check out these basic key metrics that will help you analyze your website traffic.

Unique Visitors
Most people tend to confuse this metric with “Visits”. The Unique Visitors metric can give you an accurate number as to how much real traffic you receive on a daily basis because, unlike the Visits metric, it doesn’t solely rely on cookies to count. This means any of your visitors would be counted once, even if they cleared their computer of cookies.

Pageviews
The Pageviews metric should increase in direct proportion to the numbers shown in Unique Visitors. This metric represents how deep your unique visitors go into your website pages. If the percentage is low, your content may not be engaging enough to encourage visitors to explore the your website further than the home or landing page.

Bounce Rate
The Bounce Rate metric will tell you the percentage of visitors who left your website after viewing only one page. High bounce rates can mean that your website is not appealing to visitors in certain aspects such as the design, content, navigation, and so on. Tracking your website’s bounce rate will quickly help you identify things that are not working well on your website, so you can fix the problem accordingly and ensure you grab visitors’ attention from the first click.

Traffic Sources
This metric shows which sources drive the most and least traffic to your website. Generally there are four types of metrics: Referral, Direct, Organic Search, and Social.

  • Referral traffic – These visitors found your site via your off-page marketing efforts, such as backlinks and blog articles on other websites.
  • Direct traffic – These visitors are highly targeted, since they type your URL directly into their web browser.
  • Organic search – These visitors discover your site after searching a keyword in a search engine, usually from Google.
  • Social traffic – These visitors came from social media platforms, such as Facebook, Twitter, and Instagram.

These are the metrics that matter to tracking your website’s visitors. They consist of basic numbers that are easy to understand and interpret. Once you get a handle of these metrics, you can make your way to more advanced metrics that provider deeper level and more accurate insight.

For more tips on how to utilize your business data with Google Analytics, contact our specialists today.

Published with permission from TechAdvisory.org. Source.

Don’t let a power outage hurt your business

When people think of the causes of downtime and the need for a Business Continuity Plan (BCP), they tend to think big. Powerful storms, massive blizzards, fires and floods are usually what springs to mind when business continuity is mentioned. And while these disasters can disrupt your business, a small power outage can be just as problematic if you’re not prepared. Here’s what to do to make sure your company isn’t halted when a power outage occurs.

Power outages are one of the only disasters that can strike just about anywhere in the United States. If you are in Seattle chances are tropical storms are not going to be an issue and if you’re in Miami you aren’t going to fret over a blizzard, but losing power can occur anywhere, at any time and without warning.

A Department of Energy report noted that power outages cost American businesses nearly $150 billion in 2014 and added that increasing demand for energy coupled with an aging infrastructure could see the number of blackouts increase. While weather-related events are the most common cause of power outages in the U.S., it is far from the only thing that can disrupt energy service.

Since this is a problem that will continue to plague businesses, especially those ones that are unprepared, it’s important to be ready should a blackout strike. Here are a few things you should consider when it comes to power outages.

Power outages hurt in more ways than you think

The most notable issue a business faces when a power outage occurs is an inability to work. Employees often times sit around unable to do anything until the power is turned back on. Once the power does return, additional time is needed to safely turn everything back on and to check if all your files are still there.

There are also numerous indirect consequences that your business may face either during or after a power outage. These include a loss of revenue from potential sales, a decrease in customer satisfaction and a drop in your company’s reputation. The more your company is prepared for a power outage, the better continuity you will see and the less damage will be done. While it may be impossible to completely avoid issues caused by blackouts, you can minimize their impact.

Be ready in case of an outage

One of the biggest sources of frustration for employees during a blackout is losing files they had been working on. Autosave features do help prevent this but sometimes you’ll still lose that one important note or sentence you didn’t have the chance to save. Uninterruptible power supplies (UPS) are one way to buy your employees a little extra time should the power go out. You’re able to plug your computer into these devices and they will operate as a battery when the power goes out. The life of these power stations is anywhere from ten minutes to an hour for some models which should give you enough time to save your work and properly shutdown your computer.

If you want to stay in business during a power outage, a standby commercial generator can help. These normally run on propane or natural gas and immediately switch on as soon as your main power supply goes out. If you aren’t concerned about the lights but want to keep your employees productive, equipping them 4G enabled devices with Office 365 or Google Apps will let them continue to work on files that have been saved and stored on the cloud.

Always test your outage plans

Regardless of what your company’s plans are during a power outage, you will need to test them on a regular basis to ensure everything runs smoothly when the real thing does happen. If you utilize a UPS or standby generator, you will want to test these out every six months at the very least to make sure they function properly. If your business has special plans for what employees need to do during a power outage, you should run a practice drill on a yearly basis to ensure everyone is up to speed on their duties.

They key to business continuity is preparation. Let our team of experts help prepare your business for anything thrown its way in 2016 and beyond.

Published with permission from TechAdvisory.org. Source.

Add-ins give Office new life

The functionality of Microsoft Office has yet to be beaten. And while it is known for its straightforward productivity, there are quite a few add-ins for your favorite Office application that just might improve your experience further. Whether you want to add a cool infographic to an Excel spreadsheet or need to set an Uber reminder from Outlook, here are four add-ins that can help change the way you use Office.

You probably use Microsoft Office on a daily basis but, if you aren’t utilizing plug-ins, you are missing out on a world of cool features that can improve your favorite applications. Microsoft calls them Office Add-ins, and they can be found in the Office Store. Log into your Microsoft account and download the Office Add-ins you want. After that, open the Office application the add-in is meant for. Once open, go to Insert > My Add-ins, and then pick the one you want. That’s it.

Of course, knowing how to do it is just the first step of the equation. You also have to know which add-ins are worth installing. If you are using Office 2013 or later, here are some of the add-ins you might want to check out.

People Graph

For: Excel
Price: Free
Excel is a great way to share numbers and vital data. However, your traditional spreadsheet can look a bit boring, and in particular it can fall short if you need certain figures to stand out. Apart from making them bold or larger, there aren’t a ton of options at your disposal. This is where People Graph comes in. This add-in lets you take those simple numbers and transform them into an engaging infographic that lets the data really stand out.

DocuSign

For: Word
Price: Free Trial (subscription required after trial)
If you need to sign a lot of documents, the process can be a complicated one. DocuSign removes all the hassles by letting you drag and drop your eSignature right there in Word. No longer will you have to print out a document, sign it, and then scan it back onto the computer. DocuSign also meets all legal standards when it comes to eSignatures, so security or validity won’t be an issue.

Uber Ride Reminder

For: Outlook
Price: Free
Raise your hand if you’ve scheduled an Uber ride, only to then forget about it. Chances are there are a lot of hands in the air, ours included. With the Uber Ride Reminder add-in, you won’t have to worry about that happening again. When you schedule a ride, you can place it in your Outlook calendar, and also have the option to setup a mobile reminder from the add-in. New users of the add-in might even be eligible for a free ride, too!

Translator

For: Word
Price: Free
If you work with bilingual clients, or simply want to quickly translate some text into another language, it normally involves a lot of copying and pasting from Word to an internet browser and back again. The Translator add-in cuts out the middle man, and lets you perform translations in over 40 languages right there in Word. While we can’t always vouch for the accuracy of the translations, it can at least help you get the gist of the message.

Believe it or not, there are tons of tools, tips and tricks out there that will let you and your employees get more out of Microsoft Office. Let our expert team show you how your company can get the most out of them and other Office features.

Published with permission from TechAdvisory.org. Source.

IT security predictions for 2016

Online security has probably never been such a hotly debated subject as it was in 2015. From recent numerous high-profile attacks on Sony and others, to this year’s leaking of data stolen from the extramarital-affair-facilitating website Ashley Madison website, have pushed cyber security firmly into the spotlight. So what can we expect from 2016? Experts predict that this year will only see cyber crime increasing yet further. Here’s what you need to know.

If you think that only big corporations and prominent organizations are targeted by cyber criminals, you are making a deadly mistake. It might be tempting to sweep cyber crime under the carpet and assume that you are flying below the average hacker’s radar, but that simply isn’t true. In fact, it’s the polar opposite, since smaller enterprises are actually far more likely to be at risk than larger ones, owing to their typically less sturdy security postures.

So where does that leave you as a small or medium-sized business owner or manager? Does it mean you need to be taking your cyber security even more seriously? You can bet your bottom dollar it does, as industry experts predict that 2016 is only going to become more of a minefield when it comes to online crime.

The headline trend that IT security professionals pinpointed this year was that no longer were criminals hacking into websites purely to bolster their bank accounts. 2015 has seen the emergence of another strain of hackers, launching cyber attacks as part of a moral crusade. These people are not purely after money although in some cases this may also be a contributing factor – instead, their claimed motivation is revenge, or righting what they perceive as wrong. It is this diversification in the hacking community that has led security watchers to predict that, as we enter 2016, we are likely to see some different behavior from hackers.

Among the unpleasant predictions being made, a number of experts agree that hacks of a destructive nature will be on the rise. The fact that hackers are using attacks for retribution rather than simple monetary gain means that a wider cross-section of organizations may well find themselves being preyed upon, all the way from government agencies – traditionally ignored by hackers – to online retailers and other commercial websites.

Remember when Snapchat got hacked back in October 2014, and the hackers threatened to make public as many as 200,000 photos? Well, the bad news is that apps are going to continue to be targeted. In particular, those mobile apps that request access to your list of contacts, emails and messages can, in the wrong hands, be used to create the kind of portal that enables a cyber criminal to steal data or gain access to a company’s entire network. All this means that in 2016, hackers could be taking advantage of apps to do more than just steal your social media photos – they might have in mind the takedown of your entire company.

As a local business owner, social engineering – a means of tricking an individual into disclosing revealing or personal information about themselves or their company – is something you definitely need to be concerned about. You might pride yourself on being too savvy to fall for a cyber criminal’s tricks, but what about your employees? Can you be sure that each and every one of them exhibits the same amount of self control, cynicism, and wariness that you do? Not only that but, as we enter a new era of online threats, the criminals that use social engineering are growing in confidence and creativity. Dodgy emails from a bizarrely named sender containing a link to an unheard-of website are yesterday’s news. Modern social engineering is highly evolved and extremely cunning, and has the potential to convince even the most streetwise internet user.

How confident are you that your entire team of employees would be completely infallible in the face of a stealth attack from a seemingly innocent source? Could you trust them to restrain from divulging not only their personal details but also information pertaining to your company? Multiply the number of employees in your company by the number of phone apps they potentially use, and add to that the fact that any one of them could at any time be targeted by a social engineering scam, and the end result is a less-than-perfect security posture.

The sad fact is that there are people who want to do you harm – regardless of whether you hold confidential information about celebrity salaries, or are privy to a database full of cheating spouses. People, no matter how well meaning or vigilant, are the weakest link in any security chain, which means that ensuring your business’s safety necessitates educating your staff and ensuring that your network is impenetrable.

Professional training and a vulnerability assessment are two great places to start, so why not get in touch with us? We’ll make sure your business is as hack-proof as it can be.

Published with permission from TechAdvisory.org. Source.

Make meetings productive with Do.com

Is there anything worse than an unproductive meeting? The feeling of those minutes and even hours slipping by you as you sit ‘brainstorming’ with co-workers, only to leave the room with a big fat nothing. The frustrating part is that, when run effectively, meetings can result in great ideas, and can add huge value to your company. But how do you make that shift from pointless meetings to productive ones? That’s where Do.com comes in. Here’s how to make the change in your organization.

We all know that an unproductive meeting is bad for business. Wasted minutes turn into wasted hours, and wasted hours turn into wasted days – and so on. Not using any of your team’s time effectively – whether they are the COO or the receptionist – is a big waste of money, simple as that. On the other hand, you know that meetings are essential for regrouping, hashing out new processes, gathering feedback, brainstorming marketing strategies, and simply touching base. But if, over the years, your company’s meeting culture has gone from energetic and idea-generating to stale, uninspiring, and – dare we say it – downright pointless, it can be hard to turn that around.

The good news is that there is a way to swing the pendulum back in the other direction, so that you can begin holding meetings that are productive and, crucially, that STAY productive. And that’s by using a software platform called Do.com. Do’s purpose is to help companies of all sizes start running more productive meetings, and it has already been adopted by well-known clients, including tech giants Apple, Google and Microsoft.

Do aims to help make meetings enjoyably productive, too – after all, whether we’re a high flyer at Microsoft or the owner of a local law firm or beauty salon, we all feel good when we are contributing something useful. So, if you’ve noticed that, every time a meeting is held in your workplace, a groaning line of worker ants clutching iPads and notepads heads begrudgingly towards the meeting room, this could be your chance to turn things around and re-energize your employees. If you do it properly, you’ll get some great ideas for moving your business forward at the same time. It’s a win-win situation!

So what does Do actually DO to make meetings more motivating and productive? For a start, it helps structure them more effectively, so that more time is spent getting to the point and less time is spent discussing weekend plans, or moaning about other departments or staff. Do gives you the tools to properly manage agendas, notes and actions, as well as allowing you to share files that are needed for discussion. It also features a timer, which turns red if you overrun, so that you can set limits as to the amount of time devoted to a topic – ideal for reigning in those debates that go round in circles but never actually end up getting anywhere.

The founder of Do, Jason Shah, has stated that his goals with the platform are to “bring three central themes to every meeting: structure, transparency, and automation.” To help facilitate this, Do is geared to bringing an agenda to meetings, thus putting the end to directionless and ill-prepared attendees. It allows the meeting organizer to easily import notes from previous meetings, and upload relevant files or documents. This is something that will save huge amounts of time in the average workplace, where meetings are generally accompanied by a shuffling of notes and people going to print out forgotten documents, or to email the group mid-meeting. That’s probably not the kind of thing that Steve Jobs tolerated with any degree of patience!

Do also prioritizes eliminating the “so what do I need to do again?” factor that so often follows meetings, by centralizing information pertaining to the subject, as well as highlighting follow-ups and outcomes. The software prompts the meeting organizer to assign discussed tasks to a specific person, who then receives an email and push notification outlining the task, as well as a link to a dedicated meeting page, where further information can be found.

With other features that aid prioritization of tasks, plus analytics that give managers an overview of how their team, department, and indeed the whole company are spending their time in meetings, it’s little wonder that Do’s client list boasts some pretty high-profile companies. As well as Apple et al, other adopters of the platform range from social media big-hitters Facebook and Twitter to other tech clients including Dropbox and Salesforce. Consumer platforms, such as Netflix, Spotify, Uber and Airbnb, are also onboard – as are Disney, Domino’s Pizza, the NBA, and certain sectors of the US government.

It’s probably safe to say that these clients like the way that Do.com can be integrated with other tools and software such as Office 365, Google Drive and Docs, and Evernote. In fact, Do even considers its competitors to include other cloud-based productivity platform providers like Google Apps, Evernote, Dropbox, and Trello. However, Do.com has the edge on all of those by virtue of its meeting-centric approach. You may use Google Docs to work on a task after a meeting, but Do.com walks you through the whole process, from agenda to follow-up and subsequent meetings.

Although adopted by major players such as Apple, Google and Disney, Do.com is for use by companies of any size – including yours! If you want to learn more about productivity, including how to install the tools and how to instill the culture within your company, give us a call today.

Published with permission from TechAdvisory.org. Source.

How big data can increase your profit

One of the biggest, buzziest phrases making the rounds in corporate circles at the moment is “big data”. But what does big data actually mean? What is it and, more importantly, what can it do for your business or organization? The good news is that it’s not just another tired old buzz word that actually has very little meaning (“pushing the envelope”, we’re looking at you!) Using big data within your company can actually help you increase profit. Let’s take a look at how.

So, we’ve established that big data is causing a stir and creating a buzz in companies that are in the know. In fact, it’s become hip to bandy about the phrase whenever one is trying to impress their boss, senior management or fellow co-workers. But like any lingo or jargon that is currently cool, it really doesn’t count for a whole lot if it doesn’t mean anything, particularly in the workplace.

The good news is that, unlike some of the more hackneyed expressions thrown around by those colleagues that are so desperate to impress their seniors, big data does actually mean something. And, more to the point, it can help your business thrive. Big data can help you achieve that end result that everyone in business is chasing: profit.

This is why big data is trending so sharply at the moment – after all, every owner or manager of a small or medium-sized business wants to grow their bottom line. Times are hard in many industries: increasing competition from abroad, the threat of the internet to bricks-and-mortar stores, a difficult economic climate – the list goes on. But what if something as simple as using your business’s data could push you heads and shoulders above the competition, and help turn around that downwards or flatlining arrow on your sales chart and point it upwards in the direction of success?

But before we get to that; what actually is “big data”? Why is it big? Well, we may have said that using data to grow profit is simple but, in actual fact, it’s really not as easy as all that. Big data is used to refer to various sets of data that are so huge and so complex that the traditional methods of processing data are virtually useless. Database management tools and other processing applications become redundant and are just not up to the task of capturing, storing, searching for, sharing, transferring, analyzing, and visualizing data.

Instead of looking at separate small sets of data, big data – as the name implies – looks at larger sets that contain far more information. This enables anyone analyzing the results to cross-check the sets and pinpoint trends, both positive and negative, across the entire business. As a result, owners and managers can make more informed decisions that affect the company in a more beneficial way than is possible by merely looking at small, isolated sets of data.

Big data therefore plays a valuable role in strategy and planning, and also helps troubleshoot worrying or problematic trends that threaten the performance and profitability of the business. Put simply, using big data to assist in making decisions for your company is about being able to see the bigger picture (to use another tired corporate buzz phrase). Decisions made with all the facts at hand will naturally help increase revenue, as opposed to blindly feeling in the dark and making changes to one area or department that may negatively affect another.

There are a number of ways that you can use big data analytics to make better decisions and increase profit. Crucially, it allows you to see what really makes your customers tick. Nowadays many businesses offer different ways for their customers to communicate with them. From email to a website, to phone calls and human interaction, all of these present you with meaningful information about your clients’ behavior. Knowing what your customers rely on you for, how they interact with you, and where they may hesitate or stumble when using your services, provides a wealth of knowledge just waiting to be mined. However, a lot of this data is unstructured and therefore cannot be analyzed using traditional means. That’s where big data comes in: it can help you uncover the information you need to really understand your customers.

Of course it goes without saying that a deeper understating of your customers can help you grow your customer base, increase repeat business, heighten customer loyalty, and reduce bounce rates and the number of dissatisfied customers. But that’s not all – analyzing this data will allow you to develop new products or services, create stronger, more effective marketing campaigns, and create an all-round better experience for the people that matter most – the people you serve.

Want to learn more about big data, and find out how it can have a seriously positive impact on your business’s revenue? Talk to us today – we have the knowledge and experience to help you really get the most out of your company’s intel.

Published with permission from TechAdvisory.org. Source.

How data adds value to your business

We all know that data is valuable. After all, the more we know about the inner workings of our business and how our customers behave, the better. But knowing that data is crucial in helping to move your organization forward, and knowing exactly how to use that information to do so are two very different things. Here are some ways to overcome the hurdles and add real value to your business by harnessing the power of data.

Many small and medium-sized businesses shy away from data analytics due to the perceived complexities of dealing with the myriad of facts and figures. A head for figures is something many of us lack – and, even if you have no problem with the math, there’s the time involved in setting aside a part of your busy schedule to track your analytics.

But the sooner you embrace your data, the sooner you can start adding real value to your business through this extremely valuable, and often untapped, source. But just how does a smaller enterprise actually set about doing that? After all, even the most humble of mom and pop stores or home-office-based entrepreneurs has access to an often bewildering array of trackable metrics.

The key point is that, if data is to be of any value, it needs to be easy to collect, collate and analyze. There’s no point spending half your working week mired in incomprehensible spreadsheets and charts if you can’t extract useful information and then apply it in a meaningful way that meets your end goals.

When thinking about analytics, it can be easy to feel overwhelmed. Not only that, but the vast majority of business owners would much rather spend their working lives filling dental cavities, laying flooring, solving legal disputes or selling fitted kitchens – whatever your own particular specialist skill might be – than learning about and trying to apply data analysis techniques. That’s where an analytics dashboard can help. These take the hassle out of unearthing all that data, and present your metrics to you in a more understandable format. But with an array of different tools to choose from, what should you consider if this is the route you decide to take?

  • How easy is it to use? There’s no point investing in a dashboard solution if you don’t understand the way the data is presented to you; you still won’t be able to apply it in any meaningful way.
  • How deep will the analysis go? You’ll likely want to be able to track trends, compare results over time, and chart your success.
  • Is the data easy to apply? You want your dashboard to simplify the application of data within your business environment, and make it easy for you to take action.
  • Does it save you time? If you’re currently spending frustrating hours sifting through reams of facts and figures, this is a huge consideration. You need your dashboard to supply pertinent information in an easy-to-read format.
  • Is it compatible with other programs and apps? If you’re operating an online store, you will want the dashboard to work with your POS and shopping cart. You may also want it to track website analytics and social media engagement.

Once you’ve decided on a data analytic dashboard, how do you know which metrics to look at? Every business will differ depending on their industry and individual needs or challenges, but there are a couple of points you will want to bear in mind.

Look for data trends
To make the leap from looking at data to making plans and actually doing something, you need to highlight your most important metrics and use them as something to action. Let’s say you find it hard to retain customers; you know this and your data backs it up. Clearly you’re not doing enough to ensure your customers return. That could indicate you’re spending too much time and money on attracting new clients. Now you can take action: do you need to improve your customer service or offer more products or services? Create a marketing plan that targets past customers by telling them about something new or by offering them a discount.

Analyze your past customers
Now you have easy access to data that shows you your best selling products or services, your peak selling periods, and more. This will help you get to know your customers far better, track their behavior, and plan ahead when it comes to adding services, buying inventory, or preparing for busy spells.

Whether your aim is to attract new customers, retain old ones, expand your offering, or discern whether opening a new location is a viable option, your data will prove to be an indispensable friend. After all, customers may come and go – but your data will always be there for you.

If you’d like to learn more about adding value to your business with data analysis, or want to explore data analysis dashboard options, get in touch with us today – we’ll be happy to advise you on the options best suited to your needs.

Published with permission from TechAdvisory.org. Source.

Business interruption insurance 101

While it is highly likely that you have an insurance policy that will cover your small or medium-sized business in the event of a disaster, chances are you don’t have business interruption insurance. The majority of smaller companies tend to overlook interruption policies, believing (or at least hoping) that regular insurance will be enough to protect them. But in the face of rising natural disasters, you may want to think again.

So why do small and medium-sized organizations tend to forego business interruption insurance policies? Chances are it, like so many things, comes down to cost. But can you really afford to ignore the additional protection that interruption insurance offers, or is it safe to cut corners and hope that your regular business insurance will have you covered in the event of a disaster?

While an interruption insurance policy may cost you anywhere from $750 to $10,000 or more (the cost is normally dependent on the size of your business), the fact is that your standard insurance policy will not cover you completely when a catastrophe strikes.

Take for example the spate of superstorms that have ravaged the United States over the past decade. From Hurricane Katrina to the more recent Sandy, small businesses and enterprises throughout the US have been left devastated after feeling the wrath of Mother Nature. While a best-case scenario may entail losing a few days sales during a power outage, at the other end of the scale you could find yourself dealing with a destroyed warehouse, an office that no longer has a roof, or thousands of dollars worth of stock destroyed by flooding.

And the reality is that your regular insurance is probably not going to reimburse you for storage or relocation costs if you need to move operations elsewhere, temporarily or otherwise. The majority of policies will only cover the loss of, or damage to, physical items like stock, equipment and property. They will usually not cover you for any loss in profit if a disaster means that you need to temporarily cease trading. On the other hand, tightly drawn up business interruption insurance should cover you in the event you need to move. It should also cover a decrease in sales due to power failures that shut your communication lines down, as well as a drop in profits due to delays in the delivery of stock or equipment.

Think the chances of a natural disaster affecting you are still slim despite the scenes of chaos and devastation reported in the media? Consider that a recent survey conducted by insurance giant Allianz found that there are now typically 600 major incidents per year – compare that to the previous 400 per annum and it doesn’t take a mathematician to figure out that disasters are on the rise.

So, as a small or medium-sized business owner, what do you need to know before you consider purchasing interruption insurance? If you’re thinking of adding interruption coverage to your existing policy, first record your current net income – but watch out because, if your net profit is high, you might be hit by a low per-incident limit. You could find your insurer has limited your coverage and left you inadequately protected.

Is business booming? If you are undergoing rapid growth, keep records spanning many months so you have proof of revenue increase. Without this, you will not be able to forecast month-on-month profit growth and your insurer might cap coverage at the rate of the previous year’s profit, not at your accelerated one. Be aware, too, that the type of interruptions you want protection for should reflect the areas covered in your general business policy. If your existing policy doesn’t include coverage for fire damage, neither will your interruption insurance.

There are many other aspects of an interruption policy to take into account – such as add-ons that protect you in the event of a power outage (something that standard policies normally don’t normally cover), and knock-on effects caused by a disaster at your supplier’s end.

Once you have taken out interruption insurance, should you have to use it then the most important aspect for you will be getting reimbursed. Crucially, you need to be able to provide your insurer with as many details concerning profit loss as possible. Consider storing files electronically, either offsite or in the cloud. That way, if your office or store is destroyed, you’ll still have access to your documents – and a far greater chance of recovering your losses.

If you’d like to learn more about protecting your data, files and documents, as well as about business continuity planning to help you get back up and running should disaster strike, please get in touch with our team today.

Published with permission from TechAdvisory.org. Source.