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Tag: Business Solutions

  • Why Saudi Arabia is The Goldmine for Global Entrepreneurs | Entrepreneur

    Why Saudi Arabia is The Goldmine for Global Entrepreneurs | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Nestled in the heart of the Middle East, Saudi Arabia has long been synonymous with oil wealth. Yet, as we move deeper into the 21st century, it is stepping into a new light, presenting vast and varied opportunities for entrepreneurs.

    1. Beyond oil: A diversified economic landscape

    Saudi Arabia’s Vision 2030 is a clarion call for diversification. The nation is proactively steering away from its oil-dependent past, investing heavily in entertainment, tourism, technology and sports sectors. ‘NEOM,’ the futuristic city project, is a beacon of this transformative journey.

    For budding entrepreneurs, this evolution translates into a broader spectrum of business avenues, a more varied market and an ever-evolving consumer base.

    Prince Mohammed bin Salman Al Saud once asserted, “Vision 2030 is all about the future. It’s about more life, it’s about more energy, and it’s about more excitement.” And in this unfolding future, entrepreneurs are the vanguard.

    Related: A Look At How Saudi Arabia’s Vision 2030 Has Spurred Entrepreneurship In The Kingdom

    2. The growing consumer spending of millennials

    Saudi Arabia is young. Over half its population is under 30, making it a vibrant, tech-savvy, digitally connected consumer market. This burgeoning demographic is increasingly global in its outlook and consumption patterns. For businesses, this translates into a potent market hungry for innovative products, new-age services and novel experiences.

    Related: Attracting and Retaining an Engaged Millennial Workforce

    3. Global crossroads and a growing business ecosystem

    At the juncture of Asia, Europe and Africa, Saudi Arabia is more than just a regional hub; it’s a global convergence point. Entrepreneurs setting up in Saudi enjoy easy access to multiple continents, offering an ideal launchpad for truly global aspirations.

    It’s not just about the market; it’s about the support. Recognizing the value of entrepreneurial ventures, the Saudi government has initiated numerous incentives, grants and funding opportunities. With tech hubs, incubators and a growing investment community, Saudi Arabia genuinely welcomes innovators with open arms.

    Related: The Middle East is Emerging as a Serious Startup Hotspot — Here’s What Entrepreneurs Worldwide Can Learn

    4. The tourism and cultural renaissance

    Gone are the days when Mecca was the only draw for international visitors. With its recent foray into the tourism sector and the rejuvenation of cultural festivals, Saudi Arabia is quickly becoming a hotspot for global travelers. This shift provides many opportunities for businesses in the hospitality, travel, arts and culture sectors.

    5. Sustainability coupled with training a young workforce

    Saudi’s diversification drive has led to a growing demand for a skilled workforce. While the demand is vast, the supply, in many sectors, lags. This mismatch offers a golden opportunity for ed-tech platforms, vocational training institutes and professional upskilling courses.

    Saudi Arabia’s move towards sustainable energy and its commitment to environmental initiatives is another realm burgeoning with potential. From clean energy solutions to sustainable agriculture, Saudi Arabia is on the lookout for green ventures that align with its Vision 2030 goals.

    Related: How Entrepreneurs Can Keep Up With Industry Demands While Nurturing a Skilled Workforce

    6. Embracing youth and empowering women

    Saudi Arabia’s demographic is a unique blend of tradition and modernity. With nearly 35 million residents, Saudi Arabia boasts a median age of just 27, making it one of the youngest populations globally. This youthful dynamism naturally begets innovation, a fact borne out by the soaring numbers of Saudi entrepreneurs. Recent years have witnessed a startup explosion, with young Saudis taking the entrepreneurial plunge, driven by passion and the promise of a supportive ecosystem.

    But perhaps the most heartening aspect of this entrepreneurial surge is the rise of female founders and business leaders. Historically, the Saudi business realm was a male-dominated landscape. However, the winds of change, heralded by policies promoting women’s education and empowerment, have reshaped the scene. Today, women are not just participating in the business sector but pioneering it. They’re establishing startups, helming corporations and breaking barriers in previously deemed off-limits fields. According to a report by the Global Entrepreneurship Monitor, nearly 35% of all Saudi startups are now led by women, a testament to their tenacity and the evolving societal norms.

    This dual wave of youthful enthusiasm and female empowerment is more than just a demographic trend; it’s the heartbeat of the new Saudi Arabia. As young entrepreneurs bring fresh ideas and perspectives, female founders infuse the ecosystem with diverse insights and resilience. Together, they represent Saudi’s progressive future, one where dreams are not bound by age or gender.

    Saudi Arabia’s metamorphosis is a tale of vision, ambition and the future. For entrepreneurs, this narrative presents a chance to tap into a new market and be part of a historical transformation.

    By aligning their aspirations with Saudi Arabia’s vision, entrepreneurs can co-create a future where innovation thrives, businesses flourish and dreams take flight. The Saudi horizon is vast, and it’s gleaming with golden opportunities for the discerning entrepreneur.

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    Henri Al Helaly

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  • Learn the Basics of Automation Using PowerShell for $19.99 | Entrepreneur

    Learn the Basics of Automation Using PowerShell for $19.99 | Entrepreneur

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    Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.

    Smartsheet reports that nearly 60% of workers agree that they could save six or more hours a week by automating the repetitive aspects of their role. That’s time they could dedicate to growing their skillset or dedicating their time and expertise to tasks that better put their experience to work.

    Repetitive tasks may seem simple, but it takes expertise to explain to a computer how to do them automatically. Start learning how with the 2023 Windows PowerShell Certification Bundle on sale for $19.99.

    Learn to automate repetitive tasks in your office.

    For business owners who are aiming to streamline their operations and enhance efficiency, this e-learning bundle presents a valuable opportunity. The 2023 Windows PowerShell CertificationBundle includes six courses that are tailored to system administrators and provide new training in automation techniques using PowerShell and Python.

    The courses begin by delving into PowerShell scripting, equipping business owners with the tools to automate routine tasks. By mastering PowerShell, entrepreneurs can automate daily activities, manage Windows systems more effectively, and seamlessly integrate with non-Microsoft products.

    As learners become familiar with the key concepts outlined in the intro course, they can start studying PowerShell scripting. This is how you can start developing automation solutions, enhance system management, and ensure efficient validation processes.

    Later courses like GUI Automation using Python introduce graphical user interface (GUI) automation capabilities. Find out how you can use Python for web scraping, browser automation, and more in this four-hour crash course.

    Automation could help your business grow.

    It might be time to hand some of your time-wasting tasks over to the computer so your team can dedicate themselves to the jobs robots can’t manage.

    Get the 2023 Windows PowerShell Certification Bundle for $19.99.

    Prices subject to change.

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    Entrepreneur Store

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  • 3 Practical Ways AI Can Work for You | Entrepreneur

    3 Practical Ways AI Can Work for You | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    The parabolic growth of accessible AI tools has intriguing implications for businesses. Analysts imagine that generative AI, for example, will have a massive impact on productivity across multiple business functions. Many organizations are scanning the horizon for a long-term AI-fueled transformation, eager to make the most of bullish CAGR projections. And while leaders mustn’t lose sight of long-term goals, staring out too far into the future may be overwhelming — distracting, even.

    Rather than redesign their business’ entire approach just to meet AI somewhere along the horizon, leaders can instead take a more practical route and ask how AI can improve their current strategy. Can AI accelerate current tactics? Can it help teams do things better? Can it help organizations reach their goals with less overhead? The answer, especially regarding product, customer success and internal processes, is overwhelmingly “yes.”

    Related: The Robots Are Coming — But They Can’t Outsmart Us When It Comes To This Particular Skill.

    Product teams can let AI do the legwork for them

    AI’s impact on product development begins with the nitty gritty. Generative AI tools like ChatGPT can help teams with everything from documentation to marketing briefs and website content. My team has leveraged AI for these very purposes, letting AI rewrite code into additional languages once we create the initial sample code. Humans are still an essential part of the process, but AI helps provide a kickstart.

    Tech companies have taken AI a step further, embedding it into their products. AI represents both a tremendous opportunity and a threat for security solutions providers. Bad actors have new tool sets that enable them to create more sophisticated attacks faster and more intelligently. Cyber product teams use the same tools to defend against emerging threats and offer in-product help to ensure their customers are more productive, better informed and ultimately satisfied with the experience.

    Non-tech companies should be thinking about the experience around their products, and, indeed, many are. Car manufacturers use AI to enhance their collision-detection systems. Healthcare solutions providers embed AI in their diagnostics and imaging products. Nike uses AI to power its product personalization efforts.

    AI helps customer teams create responsive, tailored experiences

    Customer-experience chatbots have been around for a long time, but concerns about data privacy, unnatural language and unhelpful results have kept them from becoming ubiquitous. Recent advancements have helped fine-tune chatbots such that they can answer questions more efficiently and accurately than a support desk person. AI-enhanced chatbots have helped transform these experiences from feeling like an impersonal human replacement to a better and more responsible customer experience, yet some consumers are still wary. Most will use chatbots, provided there is always an option to transfer to a live agent.

    Chatbots aren’t the only way organizations can infuse their customer experience with AI. Many companies effectively employ powerful data analytics, feeding valuable purchase and customer data into algorithms that help create ever-evolving seamless, personalized omnichannel experiences – think about how Spotify recommends new songs based on listeners’ history and allows them to switch from one device to the next easily.

    AI allows everyone to escape process mundanity

    For both product and customer experience teams, much of the AI magic happens behind the scenes. Chances are those teams are also using intelligent tools to automate workflows and speed up processes so that people can do their jobs more effectively. Teams for nearly any business function can use AI to do everything from creating images for a slide presentation to drafting website content and writing documentation.

    Leaders interested in process-focused AI can begin by asking, “How can AI help deliver a product or service more effectively?” and “What are we spending time on that AI could/should be doing?” By leaning into existing tools, such as those that Microsoft, Google and OpenAI provide, organizations can simplify mundane tasks involved in creating documents, spreadsheets and slide decks to free up their workforce for more creative and mission-critical work.

    Related: Automation Is Becoming a Business Imperative: Don’t Wait Until It’s Too Late

    AI: the ultimate means to achieving business goals

    On my product management team, we’re exploring all facets of our roles and asking ourselves how AI can help us spend more time analyzing information instead of gathering and summarizing it. This approach has been a tremendous shortcut for some components of our research and is a helpful way to think about AI as it relates to our company’s trajectory. When we ask how AI can help us fulfill our goals, we stay focused rather than become distracted navigating to some nebulous AI-enabled future along the horizon.

    Making AI work for us — not the other way around — is also a useful reminder that modern intelligent tools aren’t here to replace employees. In fact, a human in the loop is critical, regardless of AI’s application. Product teams must validate AI’s documentation; customer experience teams need to review modeling output for errors and continue to interact with customers when the time comes.

    The next time you make a decision about AI, remember that it is just a practical means to achieving business goals and not the end goal in and of itself.

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    Jason Oeltjen

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  • What to Know About Generative AI in Corporate Workplaces | Entrepreneur

    What to Know About Generative AI in Corporate Workplaces | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Companies of all sizes have become accustomed to using predictive AI to achieve a range of outcomes, such as anticipating risk, developing new products and forecasting buying behaviors. However, many enterprises are struggling to figure out how to realistically incorporate generative AI into their operations. It poses many advantages, of course, but it’s also fraught with fear and uncertainty.

    Perhaps because of that, only 12% of IT decision-makers recently surveyed by Enterprise Technology Research, as reported by the Wall Street Journal, said they plan to use OpenAI technology — creator of the most popular generative AI tool, ChatGPT. Yet, the global generative AI market is expected to reach $111 billion by 2030, per Acumen Research and Consulting.

    With all the buzz around it and advancements in the technology, there’s little doubt that generative AI is going to be an asset across industries as widespread as healthcare, insurance and logistics. However, it’s a newer solution. As such, businesses and their leadership teams are only starting to determine how best to leverage it to its fullest — and safest — degree.

    This leaves corporate leaders at a crossroads. Many want to bring generative AI solutions in-house. Some — particularly those at enterprise-level corporations — have even put a budget behind this desire. They want to access this emerging technology in the most efficient ways possible. I believe the easiest way to make that happen is for businesses to join forces with AI-based startups.

    Related: The Secret to How Businesses Can Fully Harness the Power of AI

    Attributes, advantages and areas of concern around generative AI

    Because of its continual learning capacity, generative AI might well be described as creative AI. That is, it can create content that didn’t exist before. While that’s exciting, it’s brought about much discussion on how to handle its downsides, such as inaccuracies. Generative AI isn’t able to identify or self-correct when it gets things wrong or even pushes out content that’s inappropriate or biased.

    Another overarching problem with generative AI concerns data. Because it’s trained on vast amounts of data, it may produce content that violates intellectual property rights. What is the law around generative AI content that leans heavily on existing content? It’s a fine line between unique expression and plagiarism, and the laws haven’t quite caught up to where that line lies.

    In addition, vertical, industry-specific solutions with unique data libraries, rather than general generative AI models, provide the most applicable answers but can be costly. Accessing the vast amounts of data needed to produce accurate insights is expensive, and the computing power required to do so is highly demanding and unsustainable in terms of expense. However, Microsoft seems to be exploring collaborations with AMD to lower computing costs, and potential software technologies could reduce computing consumption.

    Of course, generative AI is far from being all negatives and no positives. Due to its transformative nature as a technology, it could become a tool for sector disruption, helping companies save time and resources and improve their decision-making.

    In my view, I see generative AI as a value-added tool that’s only going to become more capable and intelligent. New models are emerging that could address the issues of cost by using smaller data sets, but it will take a few years for new models to evolve to a stage where they are affordable and user-friendly enough for practical applications. At present, generative AI is most effective when used in conjunction with human input. Human intervention fosters consideration of different perspectives and minimizes ethical and flawed data risks.

    Take ChatGPT, for example. The quality of its output and answers depends on the quality of the input and human intelligence involved. To get high-quality answers, content and results from ChatGPT, human users must take active roles in the process to create feedback loops. Otherwise, ChatGPT (and similar generative AI solutions) is interesting but not reliable or holistically useful.

    Related: The Top Fears and Dangers of Generative AI — and What to Do About Them

    Collaboration: Key to bringing generative AI solutions into corporate settings

    Collaboration between startups and corporate enterprises can be the game-changing factor across the entire generative AI landscape. Not only do partnerships allow founders to explore various options and even work with different model providers, but they also lower the barriers for companies to access generative AI. It also produces more interest in open-source model ecosystems. With open-source contributions, there can be a collective and effective effort to push generative AI’s boundaries, challenge dominant AI players and drive down costs. Ultimately, it fuels a positive innovation environment for both the startup and the collaborating corporation.

    Collaboration offers another opportunity: Businesses and generative AI solutions startups can focus on implementation and adoption rather than investing in more fundamental systems. Such a partnership will entice large companies to integrate generative AI into their workflows, making it less complicated for the startup to explore faster and potentially attract more investors for future developments.

    With that being said, enterprises won’t just center into a partnership with a generative AI startup without consideration. Keep these things in mind to streamline and inform your decision-making when partnering:

    1. The CIO and CTO must be comfortable with the solution

    Right now, CIOs and CTOs are in a state of panic. Why? They’re being pressured by their boards to understand the implications of generative AI because it accesses sensitive data. Consequently, although partnering with a startup is a perfect way to train and retrain a generative AI model with industry-specific input to ensure accuracy and consistency, it may feel like a liability risk.

    To help the CIO and CTO get comfortable, talk about what data security measures are or could be put into place. This could include data encryption solutions and secure learning techniques. Once these measures are established, the major players in your business are likely to be more confident about implementing generative AI internally. Remember: Most CIO and CTO executives understand that generative AI will need domain knowledge and access to unique industry data libraries. They simply want to avoid a breach that could put your brand in an unwanted spotlight.

    Related: Generative AI: the Rising Kid on the Start-up Block

    2. The employees will have to learn how to effectively use generative AI

    If you want employees to jump in and implement generative AI for that competitive advantage boost, you have to make it happen. This means more than just implementing generative AI applications. It means explaining the best practices regarding the technology’s use and data regulations. Presently, there are extensive discussions swirling around data regulation, so your team will need to stay up to date.

    Providing the most current information on the regulation of the usage and processing of data — not to mention data ownership concerns — to employees is critical. The more they know, the more they can control their generative AI usage and mitigate problems.

    Generative AI is making a huge splash across the world right now, especially with last year’s release of ChatGPT. While it’s still in its infancy, corporations such as yours can get ahead of the pack by working with startups developing generative AI models and applications. You just need to conduct some due diligence to ensure you get all the advantages of generative AI and avoid preventable snags.

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    Lu Zhang and Trevor Mottl

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  • What Is Modern PR, and Why Is it Crucial for Your Brand? | Entrepreneur

    What Is Modern PR, and Why Is it Crucial for Your Brand? | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    In order for brands to succeed in today’s cutthroat and highly competitive digital environment, sharing the right message at the right place at the right time is paramount not just to survive but also to thrive.

    The biggest gamble that brands can make is to overestimate their own capabilities, thinking that they can accomplish PR independently. To efficiently and effectively navigate the deep nuances and growing complexities of today’s global business ecosystem, the key is to hire a team of experts to construct a narrative, manage and control crises, target relevant audiences and help them own their categories.

    Think of it this way: Existing is not enough. Whether your organization’s mission is to disrupt an industry or you offer a range of game-changing, cutting-edge solutions, your brand will slowly but surely dwindle down if you don’t have the professional expertise to strategically place your offerings in the market, find your demographic and build a network of clients.

    This article will dive into the primary reasons why modern PR should be treated as a crucial business driver for growth, revenue generation, brand awareness and legacy building.

    Related: How Modern PR Differs From Traditional PR — and Why It’s a Crucial Part of Any Successful Business Strategy

    Traditional PR vs. modern PR

    The difference between modern PR and traditional PR is the dramatic expansion in the number of touchpoints available for communication. Before the internet and digital platforms took center stage, marketers only had a limited selection of channels through which they could disseminate their messages — including newspapers, television, billboards, flyers and a few others.

    The current PR landscape tells a vastly different story that calls for a modern, out-of-the-box approach. In a digitally interconnected world, there exists an avalanche of distribution opportunities, each offering unique ways to reach and engage with audiences. These touchpoints provide PR professionals with an unprecedented array of options to craft and deliver their narratives effectively.

    Why do touchpoints matter?

    Today, consumers make decisions influenced by a multitude of channels. While it’s true that certain touchpoints weigh greater importance than others, every PR pit stop offers a unique role in shaping a brand’s identity, establishing its position in the market and fostering awareness of its products or services.

    Digital publications, where news and content are disseminated through online platforms, are the primary target of all PR professionals, serving as the communication epicenter of all things business. On the other hand, blogs allow for in-depth storytelling and personal engagement with readers, stripping all the stiff formalities and connecting with the audience on a granular level that’s equally relatable and informative.

    Moreover, forums provide a space for community-driven conversations, where public discussions are raw, unfiltered and candid. This touchpoint gives audiences a POV through the public lens — a value that brands don’t often get from any other channels.

    Naturally, social media reigns supreme in the digital age, facilitating direct and real-time interactions with a global audience. B2B brands also take this opportunity to instill excitement and ferocity in their messaging, similar to how B2C does it.

    Other important touchpoints include newsletters, digital magazines, online media outlets, podcasts and video platforms — all offering innovative formats for storytelling, combining visual appeal and long-form audio content that’s accessible on-demand.

    Related: 5 Ways To Tune Into The Modern PR Mindset

    It starts and ends with value

    In a sea of communication channels and a myriad of touchpoints, one of the biggest challenges every brand faces is standing out in each one of them. For one, consumers face a downpour of information regularly, creating a storm of noise left and right. As a result, they filter the junk and get rid of the unnecessary data that comes their way.

    Now, it’s important to understand the headspace of audiences when it comes to information overload. What do they choose to consume? What do they disregard? What catches their attention? What makes them stop whatever they’re doing and want to learn more about? These questions are imperative in order for organizations to milk every opportunity at every touchpoint.

    It starts and ends with value. Remember, modern audiences are smart and efficient. They can read through pretense and discern which content matters and which content simply wastes their time. Provide value to reap value — ensure that your messaging not only captures their attention but also lives up to its hype through insightful and high-quality content.

    Yes, the jumping point of modern PR is quantity, but it’s quality that will enable brands to skyrocket to greater heights and unprecedented territories.

    Reaping the rewards of modern PR

    Modern PR serves as a protective shield for your brand, especially in the age of reputation and image. Brands can find themselves in challenging circumstances, especially with the proliferation of digital platforms — from a marketing campaign that misses the mark to a simple misstep on social media. In these critical moments, a well-thought-out PR strategy acts as a safety net, implementing crisis communication to minimize damage and safeguard the brand’s image.

    Moreover, modern PR is a strategic tool for building and nurturing essential networks. A thriving organization relies on a robust network, and modern PR plays a pivotal role in fostering enduring connections. Through various means, PR professionals cultivate relationships with media outlets, stakeholders, industry leaders and journalists.

    Related: 2 Keys to Gain Brand Awareness With Modern PR

    Furthermore, modern PR is beyond short-term brand building; rather, it establishes a bulletproof legacy that serves as the building block for a brand’s longevity. What’s more, modern PR humanizes brands, acquainting audiences with the inspiring journeys of company founders.

    From brand awareness, addressing pain points and value promotion, to legacy building, modern PR helps companies unlock doors to achieve a wider reach, better opportunities and a competitive advantage. It’s high time for businesses, big or small, to start thinking about their long-term growth and success, get rid of band-aid solutions and invest in experts to leverage their vast network of media relationships and solid PR strategies.

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    Omri Hurwitz

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  • How to Turn Every Adversity You Face into an Advantage | Entrepreneur

    How to Turn Every Adversity You Face into an Advantage | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Entrepreneurship is a wild ride, right? I would know. I’ve ridden that rollercoaster through storms and smooth stretches. But every time life threw a curveball, I stepped up to bat.

    I still remember when one of our key developers had to leave our company for personal reasons right before we launched a massive update — it was scary. I learned to rely on multiple people to do a given task.

    Life can flip from incredible to terrifying before you can say “entrepreneur.” I still remember when COVID-19 started. My company went from getting high-fives from industry titans to realizing our users couldn’t even step outside, let alone upload content.

    So, join me on the journey where I turn setbacks into my secret weapons.

    Related: 10 Growth Strategies Every Business Owner Should Know

    Embracing the crazy swings of life

    Here’s the thing about entrepreneurship: It’s like diving into an ocean of challenges. When I jumped into this sea of business, obstacles seemed like roadblocks. But guess what? They were stepping stones, leading me to growth and wisdom. It’s like when you learned to ride a bike without the training wheels — scary but exhilarating.

    Big-company solutions often don’t apply to us entrepreneurs. “Never rely on just one person to do a given task” would seem like an obvious lesson an industry titan might give you. Well, guess what? We small business owners often don’t have the luxury of having multiple employees with the same skill sets.

    So what do we do? We get creative. Seek solutions in places you might have never considered. Websites like Fiverr, Upwork and Flexjobs often offer temporary freelance solutions to get you through the day.

    Get comfortable with being uncomfortable because that is what being an entrepreneur is about.

    Related: Creativity, Innovation, And Leadership: The Elements of Transformation

    Why cultural roots are a different kind of power tool

    In Mexico, we’ve got this saying: some of the best engineers don’t need fancy degrees. They just rocked their resourcefulness like pros, using whatever tools they had. As a Mexican entrepreneur, that gritty mindset is my secret sauce. It’s like taking lemons and making the best orange juice you’ve ever tasted. Like, how’d that happen? We got creative.

    When adversity knocks, I knock back. Drawing from my heritage, I tap into the spirit of innovation that’s the heart of the Mexican entrepreneurial scene. It’s like when your grandma used her secret recipe to turn a regular meal into a feast. Our cultural foundation is like rocket fuel, powering us through the roughest storms.

    Related: 6 Obstacles to Creative Thinking and How to Overcome Them

    Turning challenges into allies: My game changer

    Every entrepreneur’s journey is filled with “uh-oh” moments that, with a little twist, become “Aha!” sparks. When my company, Replay Listings, got the side-eye, I flipped it into an invite for collaboration. I turned feedback into business gold, forging partnerships that set the stage for victory.

    For example, given that my business is focused on real estate video tours, I started calling real estate agents who have leveraged our technology and invited them for a cup of coffee or even lunch. During that time, getting to know my user base, their needs and their experiences while using our mobile app was really nice. In fact, many of Replay Listings’ in-app features were built because they asked us to! Who would have known? Listening to your users is helpful and essential when learning your businesses’ areas of opportunity.

    Pay close attention to your users’ needs, and you’ll see more clearly your path ahead.

    Innovation through tough times

    Picture this: a partnership I’d banked on suddenly vanished into thin air. One minute, we were chatting, and the next? Poof! They pulled a vanishing act. Now, instead of moping, I spun it around. I diversified my partnerships to ensure my venture’s future wasn’t hanging by a thread.

    Life’s got a funny way of switching things up. Hard times can be your secret ingredient to success.

    As I’ve mentioned before, It is obvious that not relying on a single employee to do a specific task is advised, but diversifying talent does not need to come at an extra expense. It often needs to take the shape of more partnerships, collaborations, or allies within the industry.

    Allocate some of your time to making allies — it’ll help you in the long run.

    Finding gold in the rough

    As we sail through this entrepreneur sea, remember that every crash can be turned into a smooth wave. Just like I’ve learned from my Mexican roots and my own ups and downs, the trick is to tackle challenges like they’re stepping stones.

    As I navigate the tumultuous waters of entrepreneurship, I realize that the wild ride is not just about braving storms and smooth stretches. It’s about harnessing every twist, turn and curveball to my advantage. Entrepreneurship isn’t just about building a business; it’s about building character and resilience.

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    Rodolfo Delgado

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  • How AI is Predicting the Next Big Trends in Consumer Products | Entrepreneur

    How AI is Predicting the Next Big Trends in Consumer Products | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    For decades, identifying the next big consumer trends and products was an imprecise art dominated by guesswork. Companies would spend millions on market research, only to be caught off guard by sudden shifts in public taste. It was like throwing darts blindfolded. But artificial intelligence has transformed trend forecasting from a fuzzy guessing game into a data-driven science. Artificial intelligence algorithms can now predict hot consumer products by analyzing massive datasets — articles, reviews, social media and search trends, for example — that humans can’t process.

    This monumental shift is on par with the discovery of electricity. Companies now have predictive insights once reserved for giants like P&G or Apple. For entrepreneurs, it’s like being handed the answer key before the test. Consumer trends that used to appear out of the blue can now be detected months in advance, allowing startups to launch the right products at the right time. AI turns elusive market intelligence into an actionable advantage open to businesses of any size.

    Related: AI Is Poised to Change How We Shop: Here’s What You Need to Know

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    Ari Goldberg

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  • 6 Key Tips to Improve the ROI of Your Google Ad Campaigns | Entrepreneur

    6 Key Tips to Improve the ROI of Your Google Ad Campaigns | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    An estimated 80% of all internet users see Google Ads on a daily basis. That’s about 4.4 billion people. So, if you’re not getting any leads or seeing a return on your Google Ads campaigns, it’s not for a lack of reach — chances are, you’re doing something wrong.

    There’s a reason Google Ads is the world’s number one pay-per-click (PPC) marketing service: It works! Don’t believe the naysayers. If a disgruntled marketer isn’t happy with Google Ads, it’s because they failed to diagnose the errors in their campaigns.

    If you’re seeing sluggish ROI on your Google Ads campaigns, I’ve got some tips to share. After nearly two decades of using Google’s PPC ad services, I know a thing or two about how to get the most out of this all-important marketing service.

    Related: How to Scale Your Business Using Google Ads

    Step 1: Diagnose the problem

    In my experience, Google Analytics is the best tool for self-diagnosing issues with Google Ads campaigns. Within their dashboard, you can see how each of your keywords and landing pages are performing. Use the Google Analytics dashboard to find the landing pages with the highest bounce rates and the keywords with the lowest click counts.

    If you’re running multiple campaigns at once, this will give you a great opportunity to explore what works and what doesn’t by comparing the top-performing and the worst-performing campaigns.

    Step 2: Check out your impression share metrics

    There are a bunch of key performance indicators (KPIs) in the PPC game, but in my opinion, none more important from an ROI-maximization perspective than Impression Share. Your Impression Share figure will tell you how much room you have to scale.

    If you’re capturing 80% or higher of the impression share for a keyword, you’re about to hit a ceiling. That remaining 20% is likely too expensive for you to target, and probably isn’t worth pursuing. You may need to change your keyword if this is the case.

    However, an Impression Share score of, say, 5% or 10% indicates that there is a lot of room for growth. By gradually augmenting your monthly ad spend budget, you can probably tip the scales in your favor.

    Step 3: Consider Google Ads Recommendations

    Sometimes the best solutions are the simplest ones. This is definitely the case with Google Ads, which offers a built-in “Recommendations” algorithm accessible on the left-hand panel of the Google Ads dashboard.

    Google Ads Recommendations provides your campaigns with an “optimization score” that, in my experience, is almost always accurate. If yours is lower than 90%, I suggest implementing the recommended changes that Google Ads auto-generates below your listed score.

    Related: Get More of the Right Eyeballs Seeing Your Google Ads

    Step 4: Reevaluate your keywords

    More often than not, a dud PPC campaign is caused by a keyword with low search traffic. Simply put, you’re not going to get any leads from a keyword that no one is searching for. That’s why I strongly recommend using any of the following services to identify which keywords are worth pursuing and which are not:

    • Ahrefs

    • Moz Keyword Explorer

    • SEMrush

    In my opinion, any keyword with fewer than 500 searches per month is a waste of time and energy. Personally, I prefer going after keywords with multiple thousands of searches per month — as long as they don’t have keyword difficulty scores higher than 35 or 40. These software services are paid tools, to be sure, but they are worth every penny if you want to improve your PPC marketing performance. Otherwise, you are basically taking shots in the dark without the data required to make informed marketing decisions.

    Step 5: Look into a Google Ads specialist

    Google Ads has become a cottage industry unto itself. These days, there are many certified Google Ads specialists who can help you optimize your campaigns and eliminate some of the friction involved in the creation, analysis and maintenance of Google Ads campaigns.

    Not only can Google Ads specialists pinpoint the vulnerabilities in your marketing strategy, but they can also take direct control over your campaigns so that they start converting on a more timely basis. Basically, they can take all of the legwork out of your PPC marketing.

    Step 6: Shift your location targeting

    Google has arguably the best geolocation targeting capabilities of any Big Tech giant — so use them! Within the Google Ads dashboard, you have three options when setting local targeting:

    • Presence or interest: People in, regularly in, OR showing interest in that location

    • Presence: People in or regularly in that location

    • Interest: People searching for that location

    The default setting is “Presence or interest,” which is not always ideal. For instance, someone who may be passing through the city for a day and searching your keyword might not be interested in visiting your dental clinic.

    If you aren’t seeing the ROI you want from your Google Ads campaign, I suggest tweaking these options. Specifically, I recommend narrowing your geolocating preferences to “Presence” in order to appeal to locals who are more likely to take an interest in your business.

    Related: 18 Ways to Nudge Your Google Ad Higher Without Paying a Cent Extra

    Contrary to popular belief, Google Ads is not a hands-off marketing tool. You can’t simply “set it and forget it” and ride off into the sunset while your bank account starts collecting zeros. It requires maintenance and testing almost every day if you want to succeed.

    Despite the fact that it’s a bit heavy on maintenance, Google Ads is still the best game in town for PPC services nearly 20 years into its existence. However, it’s only as useful as your capacity to use it. By following the steps outlined above — including diagnoses, keyword optimization, KPI analysis and geolocation changes — you can improve your ROI on your Google Ads campaigns.

    If that fails, don’t shy away from consulting with a Google Ads specialist. Fortunately for busy business owners, these professionals can take a lot of the heavy lifting out of your PPC marketing experience.

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    Amine Rahal

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  • How Generative AI Helps Creatives Save Time and Money | Entrepreneur

    How Generative AI Helps Creatives Save Time and Money | Entrepreneur

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    This story originally appeared on Under30CEO.com

    The generative AI boom is in full swing, and practically everyone, except a few notable naysayers, believes a revolution is upon us. Even national governments, usually slow to react, are coming around to the idea that AI will have a transformative effect on society.

    Nowhere are these changes clearer than in the creator economy. Individuals can now increase their output tenfold (if not more) with the help of generative AI tools.

    Speeding up work

    Artificial intelligence is dramatically speeding up work and changing the creative process. Brands still need agency (they can’t put Tweets on autopilot just yet). However, they can use generative AI tools for ideation and even full-blown content writing with the correct prompts.

    Related: 5 Ways ChatGPT Will Impact Digital Marketing

    Given the remarkable abilities of this technology, an entire industry is growing around it. Self-styled professionals are offering creators courses and instructions on how to do more with less time using AI and generative intelligence, enabling them to expand their creativity and reach more people in a profound sea-change from just a few years ago.

    ProPhotos, the makers of an AI headshot generator, say the biggest change will be convenience. “Our customers want to say goodbye to the hassle and expense of traditional photoshoots,” the brand says, according to Under30CEO. “Thanks to advances in artificial intelligence, it is now possible to capture photorealistic, high-quality headshots without expensive camera equipment or studio lighting. Software can do everything independently, without the need for external assistance.”

    These breakthroughs are remarkable and represent what might come down the pike. Presenting a polished and professional personal profile picture is essential for anyone who makes a living online, but challenging to achieve with yesterday’s technology. Only the most committed creators had the motivation to choose the professional path. Now, though, it is considerably more accessible, and practically anyone can do it using simple prompts.

    Drafting and outline

    Generative AI also plays a significant role in drafting and outlining content. These tools are exceptionally good at providing creators with logical sequences of concepts to discuss, showing them what to write or say next to maximize audience comprehension.

    Of course, creators aren’t willing to hand over the full creative process to AI just yet. Machine intelligence often lacks flair or the ability to mimic their brand voice.

    However, it is adept at providing a general structure and providing ideas. Language models, such as ChatGPT, can ideate endlessly, sparking human creativity in the process.

    Automating routine tasks

    We are also seeing generative AI play an increasingly valuable role in automating routine tasks. Creators are using the technology to reply quickly to comments or automatically like and respond to interactions on their profile pages.

    Related: How To Use ChatGPT as a Creative Writing Partner

    Again, this might seem a bit like cheating, but it is yet another example of how effective the tools can be. Most creators spend hours engaging with users online, taking them away from their core work and preventing them from progressing to other projects as rapidly as they would like.

    Automation of routine tasks is also reducing the risk of burnout. Instead of creators waking up every morning and spending an hour spamming comments as fast as they can, bots can now provide simple responses for them, which they can approve or deny. Creators have more energy to dedicate to other, more valuable tasks.

    Language translation

    Interestingly, generative AI is also leading to a boom in creators going across languages. Instead of creating content in English alone, many are now able to automatically bridge the cultural barrier and reach new audiences with ease. Generative models can now translate more text with exceptional accuracy, representing its true meaning in a different language.

    Efficient research

    We are also seeing generative AI leading to more efficient research. Instead of trawling through reams of scientific articles to find a specific reference, chatbots can now search their databases for relevant studies based on rough user inputs.

    For example, a creator wanting to research the effects of egg consumption on cholesterol levels can ask one of the new AI-powered chatbots to do it. A simple prompt is all it takes.

    Most leading chatbot models include scientific research papers in their training data. This lets them identify specific studies of interest that creators can use to make their points or get their messages across.

    Research is also becoming more efficient because of the ability of chatbots to probe the truthfulness of scientific statements. Creators can ask these tools if their statements are correct in the context of the existing scientific literature. Bots can then respond, telling them which studies corroborate or refute their statements.

    Learning new skills

    Finally, generative AI is teaching creators new skills. Tools have become like personal assistants or guides, helping social media personalities navigate tricky concepts and push their brands forward. Solo brands can ask these pieces of software for training on virtually any question and receive it in a tailored, convenient format. As with all training, creators still need to put in some effort (i.e. telling the tools what they want to learn) but the ability of these machines to generate course-like content is accelerating dramatically.

    As the technology continues to improve, AI systems will be better able to include multi-model support. On-demand video generation will let software provide instructions in a more tutor-like, rather than textbook-like format. Users will be able to interact with these systems as if they are people through online portals.

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    Under30CEO Staff

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  • Why You Shouldn’t Let Your Personal Taste Drive Your Brand Design | Entrepreneur

    Why You Shouldn’t Let Your Personal Taste Drive Your Brand Design | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Your brand is not your baby.

    Okay, it kind of is your baby — in how you nourish it, support it, invest in it and stick with it on both good and bad days. But what I mean is, you don’t necessarily want to treat it like it’s 50% of your DNA.

    While your company should be tied to your passion and dreams, the company brand doesn’t have to be an exact extension of you. It doesn’t need to (and sometimes really shouldn’t) reflect your own style or your personal brand.

    I get that you might want it to. And it might make sense for you. You can have a company brand that is a complete reflection of who you are — your ethos and mindset, your individual taste and who you are as a consumer — if and only if your research findings line up to reveal that your brand’s target consumer is in fact you. But … it might not.

    Often, you’ve got to make a choice. Do you want your brand to appeal to you or to the customers who are most likely to buy it? Do you want your product to belong in your shopping cart or in theirs? In other words, would you rather your brand be focused on your preferences or would you rather it be profitable by focusing on your core audience?

    Related: How to Cultivate a Customer-Centric Approach to Brand Building

    Follow the research

    If you ultimately want it to be profitable, you’ve got to follow the research.

    Research is the essential first step in impactful branding; it helps you truly understand your customer, giving you a vital foundation to design from. Research might lead you to a brand that reflects your own tastes, or it might not. But with it, what you’ll have is the groundwork for creative, effective magic.

    The importance of groundwork and preparation cannot be overstated. It’s like what any five-star chef would tell you: You must start with the mise en place.

    Mise en place is a French culinary phrase that means “putting in place” or “gather.” Before making an amazing meal, you get everything together and ready. You julienne the carrots. You dice your tomatoes.

    With branding and brand design, your mise en place is doing thorough creative, consumer and strategic research, then organizing that information and agreeing on what elements (ingredients) to leverage.

    In the research stage, an agency should ask:

    • Who is your consumer audience?

    • What other brands are they buying?

    • What does their lifestyle look like?

    • What brands will be next to your product on the shelf?

    • What area of the aisle will feature your product in a store?

    • What are other brands who have invested heavily in the same space doing well?

    • What consumer challenges are you solving?

    • What makes your brand unique?

    • Why should people care?

    • And (sometimes most importantly) why do YOU as an owner care? What is your brand’s reason for existing?

    Once these buckets of information are clearly defined, an agency or designer will then turn them into pieces of information that can be used in the creative process. They will outline and identify which elements can contribute to the brand’s success.

    Related: 5 Key Questions to Ask Your Audience When Conducting Market Research

    How to successfully navigate a consumer-centric brand design

    From here, the creatives, strategists, and client work together to agree on what key aspects to use in brand design to create a consumer-centric (not brand owner-centric) road map. As a brand owner, this can be exciting but unfamiliar territory. Here are some ways to navigate it strategically and successfully:

    • If you’re working with an agency, realize that the multiple viewpoints they offer work to your benefit. Approach ideas with an open mind.

    • Using the research-driven possible elements, see what resonates with you for your brand, keeping your audience in mind first.

    • If you love elements that also align with the research, this part of the process should be easy. But maybe it’s not that simple. For example, maybe your consumer loves pink — wears it, decorates the house with it and uses it in their Instagram stories — but you can’t stand the color. Then you have to ask: Can you live with it anyway, if you know it will help your brand succeed and be profitable?

    • When evaluating potential design concepts, be sure to take elements out of their silos and picture them within their natural home. For example, if your product is a frozen food product, don’t just look at an image and react. Picture it in the freezer first. This is essential because what pops and speaks to a consumer in the frozen food aisle can look a little weird when considered out of context.

    • Do consumer testing. There are many ways, including a number of online tools and consumer research companies, to get real-time, quick feedback. If you are unsure which design will perform best, spend the money to do the consumer testing and find out. And just to be clear, I’m not talking about surveying your friends, 20 investors, or your family members. That is not a good idea (even if they are designers). You need real consumers without a vested interest in your feelings giving you real, hard data. Sometimes the truth hurts, but it can also set you free.

    If you go through this process, know that while it is not always a straight line, you’re on the path to creating an incredible, consumer-centric brand.

    And when your team presents their first ideas to you, keep in mind that these are the ones they’ve determined — through research and expertise — will have the highest impact. The process is definitely iterative and sometimes it takes a while to find the best option, but remember it’s also a common experience for people to initially reject the first ideas just because they’re too far from their own taste. But then find their way right back to those original concepts once they realize they want branding that drives profitability.

    This research-driven process builds a road map and foundation for branding that may or may not reflect your own creative preferences. But what it absolutely can do is help build a brand that grows and remains profitable — and has the impact on the world you intend it to. And for most of us, that’s ultimately the most aligned and deeply desired outcome.

    Related: Do You Know What Your Customers Want? Are You Sure?

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    Taja Dockendorf

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  • Work More Efficiently With Windows 11 Pro, Now $32.97 During the Labor Day Sale | Entrepreneur

    Work More Efficiently With Windows 11 Pro, Now $32.97 During the Labor Day Sale | Entrepreneur

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    Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.

    Statista reports that the electronics recycling market will grow to $110 billion in the United States by 2030. And if you’d like to take part and be environmentally conscious with which tech you invest in for your business, there’s one thing you’ll likely need if it’s a refurbished PC — the latest Windows operating system.

    Fortunately, during our Labor Day Sale, you can score Microsoft’s Windows 11 Pro for just $32.97 (reg. $199) with no coupon necessary. But you’ll have to act fast since this deal only lasts for four days — the last day to purchase is August 31.

    Windows 11 Pro can give your refurbished device a new lease on life, making it more current and ensuring you can work more efficiently. This latest operating system even offers perks ideal for entrepreneurs, like Windows Hello for Business and Group Policy Management, which allows you to enforce policy and compliance among different devices, users, and groups.

    This OS also offers management tools for remote deployment, multi-factor authentication, and support for certificate-based authentication. Your purchase of Windows 11 Pro even includes access to Microsoft Teams, which can make remote work and collaboration more seamless.

    Increased screen space is available thanks to snap layouts, desktops, and user-friendly redocking. Perhaps the best part of Windows 11 Pro is the enhanced security features, including:

    • Windows Information Protection: to separate personal and work data and allow only authorized apps to access your data.
    • Microsoft Information Protection integration: to protect your information from potential data leaks.
    • BitLocker Encryption: to encrypt data on your hard drive and render it unreadable without the correct decryption key

    With all those features, as well as DirectX12 Ultimate (for gaming after a hectic work week), it’s not surprising that PCMag and TechRadar awarded Windows 11 Pro a 4 out of 5-star rating.

    Give your business a boost with the latest operating system from Microsoft.

    During our Labor Day Sale, get Windows 11 Pro for just $32.97. No coupon is necessary, but this deal only lasts for four days. This deal ends August 31 at 11:59 p.m. Pacific.

    Prices subject to change.

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  • Keep Email Data Safe for Less Than $40 During Our Labor Day Sale, Now Through September 4 | Entrepreneur

    Keep Email Data Safe for Less Than $40 During Our Labor Day Sale, Now Through September 4 | Entrepreneur

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    Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.

    Of the thousands of emails you send and sort through for yourself and your business, how many of them include important data? Since emails are typically a crucial part of business activities, it’s time to take backing them up seriously.

    Though it’s not often thought about, losing your emails would be catastrophic. That’s where the Individual Edition of Mail Backup X comes in, offering a convenient and affordable way to backup, archive, manage and convert your emails. During our Labor Day Sale, you can score this handy service for only $39.97 (reg. $179) with no coupon code required. This price drop only lasts until September 4 at 11:59 p.m. Pacific.

    More than 42,000 business and personal users are already taking advantage of Mail Backup X worldwide. It can help you safeguard your email data easily, as it works with major mail clients like Microsoft Outlook, Office 365, Microsoft Exchange, Thunderbird, Postbox, and Apple Mail. It can even backup from mail services like Gmail, Outlook.com, Yahoo, Office365, Microsoft Exchange, or any other service that supports IMAP protocol.

    Aside from backing up your emails, you’ll also enjoy features like Mail Backup X’s archive file viewer. That allows you to quickly search and view your emails from the archives, which are compressed to save you up to three times the amount of storage space. Plus, its archive allows for almost any file like .pst, .ost, .mbox, .olk, .eml, .rge, and more to be imported. No wonder CNET awarded Mail Backup X a perfect 5-star rating.

    You’ll also enjoy mirror backup, migration services that move mail into a new account in Office365, and 100% privacy. Enjoy peace of mind that your data is protected by military-grade AES 256-bit encryption and your own private key, meaning your personal or business email data is only visible to you.

    Keep your emails and business secure with Mail Backup X Individual Edition, now just $39.97 (reg. $179) during our Labor Day Sale. No coupon is necessary, but this deal only lasts until September 4 at 11:59 p.m. Pacific.

    Prices subject to change.

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    Entrepreneur Store

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  • The Top 3 Business Opportunities of the Next Decade | Entrepreneur

    The Top 3 Business Opportunities of the Next Decade | Entrepreneur

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    As someone who has been in the business world for some time now, I’ve seen trends come and go. One thing that has always remained constant is the need for entrepreneurs to innovate and create new ways to make money. There are a lot of ways to do this, but these three are my personal favorites.

    I predict that in the coming years, real estate, artificial intelligence and finance — specifically mortgage companies — will be the three biggest business opportunities. These are the three industries that will see a lot of growth over the next decade, and I’m going to explain why.

    Related: How AI Will Transform the Real Estate Market

    The rise of Proptech: Transforming the real estate industry

    While real estate may seem like a conventional industry, there are some unconventional concepts within it that I believe will lead to major progress in the coming years.

    Proptech (property technology) has been growing rapidly over the past few years, enhancing the way we buy, sell and manage real estate.

    The real estate industry has traditionally been slow to adopt technology, and that’s part of the reason why it’s taken so long for proptech to develop. However, I believe that as this technology becomes more widely used, it will dramatically improve the way we buy and sell homes. The first significant change will be in how we find properties for sale.

    Increasing accessibility and transparency: Fintech revolutionizing finance

    Finance has always been a lucrative industry, but it’s now becoming more accessible to the average person. This is all thanks to new technologies, such as fintech apps and peer-to-peer lending, which make it easier for people to manage and invest their money irrespective of the capital amount.

    Additionally, these technologies are making finance more transparent. Mortgage lending, in particular, is an industry within finance that is expected to see maximum growth.

    The U.S. alone has over $10 trillion in outstanding residential mortgage debt, and as AI continues to diversify the lending process, we can expect more people, even with average credit, to seek mortgage loans providing new opportunities for the lenders themselves and the whole real estate industry.

    These developments, of course, are likely to have a positive impact on the economy. As technology continues to make it easier for people to manage their money, more people will be able to invest in real estate and other assets. This could increase the number of home purchases and help make homes more affordable.

    Related: Is the Real Estate Market on the Verge of a Turnaround or Stuck in a Recurring Pattern? Here’s What You Should Know.

    AI in mortgage lending: Efficiency and opportunities

    Artificial intelligence (AI) may be applied to many different industries, but it has the most potential in mortgage lending. AI enables lenders to quickly and accurately underwrite loans, reducing the time and cost involved in the process, while also identifying patterns and trends in the market, allowing lenders to invest better.

    There are also AI-based solutions that specifically cater to better scenarios to offer premium services to specific niches, such as elder care recommendations in real estate investments. The mortgage industry is moving toward AI-based solutions because they help lenders to do more with less. As banks continue to deal with the costs of compliance, technology will be an important tool for them to stay competitive in the marketplace.

    The benefits of AI are not limited to mortgage lending. Auto lenders have already begun using the technology to streamline their processes, allowing them to provide more personalized offers and faster approvals.

    Implementing new business models: Networking and building strategic partnerships

    Networking and building strategic partnerships are essential for entrepreneurs seeking to succeed in the real estate, AI and finance industries. Entrepreneurs who want to enter these industries can begin by cultivating relationships with key players, industry experts and stakeholders. These valuable connections offer support, resources — and access to new opportunities.

    Moreover, you’ll have:

    Access to resources: Strategic partnerships and networking can offer access to a wide range of resources, including capital, technology, talent and industry expertise. Key partnerships can help leverage these resources effectively to achieve a specific goal.

    Collaboration opportunities: Building connections and partnerships with other industry players opens up opportunities for collaboration on projects, research and development initiatives. AI, finance and real estate are already complicated. To solve a problem in one area, it’s often necessary to combine knowledge from multiple disciplines.

    Business development: Networking and partnerships can offer opportunities for business development and expansion. Collaborations with real estate developers, fintech startups and AI companies can help entrepreneurs identify new markets, expand their service offerings or access new distribution channels.

    Related: What Impact Will Fintech Have on the Future of Investing?

    I have a strong conviction that the top three business opportunities for the next decade lie in real estate, AI and finance. This is because these three areas are ripe for disruption, and the use of technology will continue to shape our lives. As we move into an AI-driven world, businesses that can adapt to these changes will be more successful than ones that don’t.

    In the next decade, we will see massive disruptions in these areas. The most important thing for any business to do is to understand how technology is affecting their industry and use it to their advantage.

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    Roy Dekel

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  • Bring the Power of Real-Time 3D Gaming to the Industrial World | Entrepreneur

    Bring the Power of Real-Time 3D Gaming to the Industrial World | Entrepreneur

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    Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.

    Companies across every industry are looking for ways to provide more immersive and interactive experiences for their customers, and to use those experiences to work more creatively and efficiently. So where are enterprise brands turning to create those experiences?

    Increasingly, the technology behind many of today’s video games – immersive, real-time 3D – is now empowering industrial users to build next-generation experiences. Building on its gaming foundation, Unity recently released Unity Industry, a bundle of premium tools that enables developers, artists, and engineers across industries to build and deliver custom real-time 3D experiences for augmented reality (AR), virtual reality (VR), mobile, desktop, and web.

    Unity Industry became widely available to anyone to purchase online in late July, making it easier for industrial users to get started with real-time 3D. For the first time, professional industries like manufacturing, auto, retail, and energy, had a dedicated set of Unity tools to create immersive VR and AR experiences and build digital twins.

    From retail to automotive.

    As the real world continues to merge with virtual ones at increasing speed, we’ve seen the automotive industry progressively embrace real-time 3D to build vehicles, improve manufacturing processes and enhance in-car technology. At Mercedes-Benz, real-time 3D is powering the infotainment of its new operating system across its vehicle portfolio. The in-vehicle software experience is paramount to luxury buyers, and 3D capabilities from Unity help them meet the demand for more visual fidelity and immersive experiences.

    In the energy industry, real-time 3D is changing the way large-scale solar projects are designed, created, and operated. In the construction world, streamlined creation of real-time 3D experiences takes minutes instead of days to optimize large design models. And in the federal government, immersive 3D experiences are helping prepare for natural disasters by building bases capable of withstanding major catastrophic events.

    What industrial users need.

    Unity Industry focuses on several key offerings tailored for industrial use cases:

    The Unity Editor allows you to build immersive AR and VR experiences, providing powerful physics tools to simulate anything, including sales and marketing configurations, assembly lines, entire factory floors, complex machinery, traffic, buildings, or digital twins of entire buildings.

    Unity Industry also includes the Pixyz Plugin, which allows you to use existing 3D data to create unique 3D experiences. Creators in many industries are using Pixyz to bring their CAD and 3D data interactively into their real-time 3D experiences made with Unity without any expertise needed.

    Plus, Industry includes dedicated tech support from Unity engineers, access to on-demand training, and other services to help address the specific needs of each industry and company.

    See how the exciting tools available through Unity Industry can help create custom real-time 3D experiences to help your business move forward.

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    StackCommerce

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  • Labor Day Special: Get Microsoft Office for Just $35 | Entrepreneur

    Labor Day Special: Get Microsoft Office for Just $35 | Entrepreneur

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    Despite the emergence of more affordable competitors, Microsoft Office has 4.6 stars out of five online and has stayed on top of the office software food chain. That’s because it keeps getting better and businesses prefer Office because it can do so much.

    But if you’re looking to get Office for a personal computer to help you start a business, now’s a great time to invest. During our Labor Day sale, you can get a lifetime license to Microsoft Office for Mac or Windows for just $34.97 through 8/31.

    Microsoft Office Home & Business for Mac 2021 includes Word, Excel, PowerPoint, Outlook, Teams, and OneNote — all the apps an entrepreneur needs to successfully get their business off the ground. You’ll be able to effectively create documents in Word, crunch numbers in Excel, create presentations in PowerPoint, get organized in OneNote, and manage communication in Outlook and Teams. Licenses require that customers update their OS to Version 11 Big Sur.

    Microsoft Office Professional 2021 for Windows includes everything above, plus Publisher and Access to give you even more marketing and data capabilities. Plus, get access to updated customizations and capabilities allowing you to more effectively work across programs and manage projects, thanks to the new ribbon-based user interface. Licenses require that customers update their OS to Windows 10, 11.

    Ready to make the upgrade to Microsoft Office? You can do so with a one-time price and avoid all the subscription fees like you would with Microsoft 365.

    Just make sure to order your choice of Microsoft Office before 11:59 pm PST on 8/31:

    Prices are subject to change.

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  • Why Asia Will Be the Next Global Titan in Digital Finance | Entrepreneur

    Why Asia Will Be the Next Global Titan in Digital Finance | Entrepreneur

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    Asia, a harmonious blend of ancient civilizations, mystic traditions and ultramodern metropolises, stands at the cusp of a new era, ready to lead the fintech renaissance. Asia encapsulates an unparalleled diversity and depth in both culture and commerce.

    Its dynamic economies, fueled by an indomitable spirit of entrepreneurship, innovation and its embrace of cutting-edge technological advancements, position it uniquely. This continent is not merely adapting to the digital finance age; it’s steering its direction, heralding a transformation that promises to redefine and reshape the global financial canvas for future generations.

    Related: Why Asia Continues to Dominate the Global Travel Industry

    Asia’s fintech landscape

    The diversity spanning from Japan’s high-tech prowess to India’s market enormity ensures a kaleidoscope of fintech opportunities. Each nation’s unique challenges and solutions add a distinct color to Asia’s fintech palette. The continent also features a rising middle class.

    The exponential growth of Asia’s middle class, especially in countries like China, India and Indonesia, signifies an increasing demand for digital banking, contactless payments and investment platforms. This surge catalyzes fintech firms to introduce innovative products tailored to this demographic.

    Three key drivers of the fintech wave in Asia

    1. Mobile penetration: In regions like Southeast Asia, smartphones have transcended luxury to become a necessity. This proliferation has ushered in a new era where financial transactions, from large-scale transfers to microtransactions, are executed at fingertips.
    2. Digital natives come of age: A vast portion of Asia’s populace, especially in countries like South Korea and China, comprises millennials and Gen Z. Accustomed to technology, this cohort is pushing boundaries, seeking instantaneous and frictionless financial solutions.
    3. Government initiatives: Proactive government measures, like tax breaks for startups, grants and sandbox environments, are galvanizing the fintech environment. For instance, Hong Kong’s Fintech Week showcases innovations and facilitates dialogues between regulators and entrepreneurs.

    Related: How to Choose the Right Fintech for Your Business

    Standout nations in Asia’s fintech boom

    India: The demonetization move in 2016 became an unexpected boon for fintech. Platforms like Paytm saw a meteoric rise. Furthermore, government-backed UPI has democratized digital payments, allowing seamless transactions across different banking platforms.

    Singapore: Singapore’s allure isn’t just its strategic location; its endeavors allow businesses to test innovative products in a controlled environment.

    China: From street vendors to luxury boutiques, QR code payments are ubiquitous, symbolizing China’s stride into a cashless society.

    Related: The Rapid Growth Of Fintech: A Revolution In The Payments Industry

    Challenges looming on the horizon

    • Regulatory hurdles: The kaleidoscopic regulatory landscape across Asia poses intricate challenges. While a country like Japan has embraced cryptocurrencies, others tread cautiously.
    • Security concerns: The spate of cyberattacks and data breaches worldwide necessitates fortified security measures, urging fintech firms to prioritize user safety.
    • Diverse markets: Tailoring solutions to resonate with varied cultural nuances and economic structures remains a formidable task for fintech enterprises.

    Harnessing the power of AI and big data

    Asia, particularly China and Japan, is at the forefront of AI and big data research. The fintech sector stands to benefit immensely from this. Sophisticated AI-driven algorithms will help in credit scoring, allowing those traditionally underserved by the banking sector to gain access to financial services. Moreover, with big data analytics, financial institutions can derive actionable insights to tailor their products to customers better, enhancing user experiences.

    The rise of decentralized finance (DeFi)

    DeFi, or decentralized finance, is becoming a buzzword in the financial world. It seeks to create an open-source, permissionless and transparent financial service ecosystem available to everyone. Countries like South Korea and Thailand are already warming up to the idea, with local startups paving the way. Using blockchain technology, DeFi platforms in Asia could bypass intermediaries, offering users more control over their finances.

    Related: CBDCs Are Inevitable, and That’s a Good Thing

    Financial inclusion through neobanks

    Traditional banking infrastructures often don’t cater to rural or less affluent populations. Enter neobanks: fully digital banks without physical branches. In populous countries like India and Indonesia, neobanks can be pivotal in providing financial services to the underserved, capitalizing on widespread mobile use to offer banking solutions.

    Green fintech

    As the global focus shifts towards sustainability, green fintech will gain traction. From green bonds to sustainability-linked loans, fintech in Asia can integrate with environmental goals, aligning financial growth with ecological preservation. This convergence will cater to the eco-conscious consumer and drive long-term, sustainable financial practices.

    Adaptive and forward-thinking regulatory frameworks will be pivotal for fintech to flourish. Asian governments, recognizing the sector’s potential, might adopt more flexible regulations, ensuring innovations aren’t stifled while safeguarding consumers’ interests.

    Asia is not merely witnessing a fintech evolution but spearheading an all-encompassing digital finance revolution. The symbiotic relationship between traditional financial systems and avant-garde technologies is crafting a rich tapestry of opportunities and advancements. The harmony between Asia’s rich cultural heritage and technological innovation fosters an environment that beckons global stakeholders. The continued maturation and innovation of fintech platforms in the region signal regional and global shifts in the financial paradigm. It’s clear that the future of fintech resonates with an Asian melody, and it is imperative for the global community to listen and actively engage in this transformative journey.

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    Henri Al Helaly

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  • This $40 Learn-to-Code Bundle Could Save Your Business Money | Entrepreneur

    This $40 Learn-to-Code Bundle Could Save Your Business Money | Entrepreneur

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    Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.

    Your business might be spending more than it needs to on IT. Techvera reports that the average small company spends nearly 7% of its revenue on IT, but you could start saving by learning and doing everything in house.

    Coding is a versatile skill, but there are many different languages, and mastering one doesn’t mean you know the others. Get a primer for multiple major coding languages when you enroll in the 2023 Premium Learn to Code Certification Bundle for just $39.99 (reg. $154)

    Busy professionals can still take advantage of all 244 hours of material in this coding bundle. You can view any of the video lectures at any time, and everything is yours for life. If you’re a complete beginner, this bundle gives you multiple places to start with a crash course in Django, a C++ course for absolute beginners, and a 25-hour mega course showing you how to use Python.

    Later courses require more advanced control over the languages you’ve learned. You can find out how to program an escape room with Python and find out how to build websites with Node and MongoDB NoSQL. It may sound intimidating to beginners, but after a few hours learning the basics, you could create your own business site instecreateg for someone else to do it. You may even be able to craft new revenue-earning initiatives with experience creating augmented reality environments.

    Train your own in-house tech team with expert instruction from Mammoth Interactive, Joe Ghal, Development Island, and others.

    Get the 2023 Premium Learn to Code Certification Bundle for $39.99 (reg. $154).

    Prices subject to change.

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    Entrepreneur Store

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  • How to Turn Marketing into a Sales and Revenue Engine | Entrepreneur

    How to Turn Marketing into a Sales and Revenue Engine | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    We’re all being asked to deliver bigger, better results with less investment. A friend of mine who’s a marketing leader at a B2B fintech told me last week that her company slashed her budget by 40% — but kept targets the same. Sadly, she’s not alone. As Gartner’s 2023 CMO Spend and Strategy Survey outlines, 71% of CMOs said they lack the budget to fully execute their strategy this year. Three-quarters say they face “increased pressure to do more with less.” This trend is set to continue.

    Other pain points include proving that the marketing function directly contributes to revenue growth, creating better leads, having a better view of the customer across the business and increasing conversion. Sound familiar? I see this every day with the clients we work with, and the struggle is real — which is why we’re going down a different path.

    Related: Aligning Sales and Marketing Needs To Be Your Priority

    Blended ABM

    It’s all about creating target account acquisition strategies that align marketing and revenue teams around customer experience and growth — increasing conversion, retention and expansion (while reducing budget wastage). We call this blended ABM (account-based marketing), and it sits at the heart of our proprietary AMPLIFY process.

    Why? If you actually want to succeed with less, you must move into a space where you are highly targeted on who you can — and cannot — acquire. This is why we evangelize blended ABM over demand generation. Don’t get me wrong: Demand gen has a relevant place in the marketing mix, but in my view, it’s more reactive to the market instead of intentionally targeting it.

    Do any of us have the time and budget these days to be solely reactive instead of proactive? I’d argue no. Let’s be real: 80% of buyers make a decision before talking to your sales team, so your content is mainly used for research only; no one can afford to just educate people. We need to sell to people.

    Let’s break it down, starting with target accounts. This entails being entirely clear on your most successful ideal customer profile (ICP) and personas — as well as defining your buyer’s journey so you know exactly who your target customer is, what type of company they work for, what their pain points are, who makes up their buying committee and how they buy.

    By sticking with the types of companies with which you have short sales cycles, long business relationships and consistently upsell and expand revenue, you’ll know exactly who to target with a blended ABM approach — and your sales and leadership teams will come to love the strategy. It’s about being bold, confident and deliberate about your target accounts and why you’re targeting them. And for the record, that pool of accounts could still be 1,000 or 2,000 strong.

    Related: The Rise of Account-Based Marketing

    Research and intent data

    Additionally and within those accounts, you’ll likely need multiple micro strategies, for example, a compete strategy. How do you identify the good-fit clients currently utilizing your competition? How do you pinpoint potential customers currently looking at your business rivals?

    Simple: research and intent data! If you start layering intent data on top of this, you can start to see exactly when someone is in the market to buy from a competitor or seeking a product/service like you offer and target them accordingly. With blended ABM, you enroll them in a 1:Many approach, moving them up to 1:Few or 1:1 if difficult to close and worth the time and effort.

    Only focusing on high-probability target accounts increases the likelihood of conversion. There are, of course, a swathe of buying committees currently sitting on their hands; when you can accurately convey your value and how you transform the buyer’s world, you have a greater likelihood of success with activating those too.

    For successful blended ABM, you need a single view of the customer. Align your marketing, sales and customer success teams around a CRM like HubSpot and start sharing vital information on customers, targets, companies and content that’s working (or not).

    Related: Here Are 5 Trends to Watch Out For in Sales and Marketing in 2023

    With blended ABM as the basis of your strategy and the enhanced knowledge of your customer achieved through the above, you’re using far more focused content and ads to only go after those target accounts in the market — especially as only 6% of your target audience is in the market at any one time. This in turn drives higher quality SQLs and clearer campaign ROI, meaning your goals across sales and marketing become aligned, too — and the latter can unequivocally prove its contribution to revenue.

    And as Ewan McIntyre, Chief of Research and VP Analyst in the Gartner Marketing practice said in the aforementioned study, “CMOs need to become a new type of enterprise leader…assuming a more business-focused role that pivots into a period of investing for profitability. Those that carry on status-quo will face significant challenges.”

    This path is for marketing leaders who are pragmatic, if not a little brave — and definitely tired of the status quo. Your leaders will need a bit of education, but the outcomes are clear: higher profitability, better alignment and customer experience. What’s not to love?

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    Paul Sullivan

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  • 3 Ways You Can Actually Use AI in Your Business (and Why You Should Still Be Careful With It) | Entrepreneur

    3 Ways You Can Actually Use AI in Your Business (and Why You Should Still Be Careful With It) | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    The sky appears to be the limit for the ways entrepreneurs and CEOs can incorporate generative AI tools into their workflows. The one thing you can’t afford to do with generative AI is ignore it.

    I recently hosted a workshop for 30 early-stage CEOs to discuss ways to fuse generative AI into their business strategies. Here is some of the intel I shared, plus how you can give yourself an edge by responsibly and effectively incorporating this technology into your startup or business.

    Entrepreneurs wisely using generative AI can strategically implement it into their narrative and general storytelling of their companies to in turn receive higher valuations from investors as well — here’s how.

    Related: How AI Is Becoming a Game-Changer in Startup Fundraising

    1. Expand your product offerings and stay competitive

    I suggest reading up on Microsoft’s collaboration with OpenAI. Microsoft jumped to incorporate ChatGPT’s technology into Bing and its other products. Now, its users can work more efficiently in PowerPoint and its suite of Office products. Google responded by exploring the use of generative AI to expand its search capabilities.

    Software development is another key area getting gen AI attention. Gen AI is helping developers code more efficiently, predicting the next lines of code based on code already written and responding to prompts. There’s a spotlight on generative AI algorithm models like Large Language Models (LLMs) that can craft text based on the user’s input data.

    Every entrepreneur who wants to edge out the competition must find ways to apply generative AI to improve products and develop new offerings.

    My company, Verbit, hosted an internal hackathon to gamify identifying ways to incorporate generative AI. It helped to get greater buy-in and inspire ideas. Our hackathon uncovered 13 ways to employ more AI, including two that we’re commercializing.

    Consider replicating this hackathon idea or encouraging brainstorms. Run them company-wide. Instead of just involving your more obvious teams, acknowledge that generative AI has the ability to impact the roles of nearly everyone. By involving less obvious stakeholders, you’ll identify use cases for generative AI to disrupt processes you weren’t even aware of.

    Engaging your team in these ways won’t just boost morale; it will release apprehension around the “negative” human impact of greater generative AI use. Instead, your team will be inspired by how they can apply it to expand your offerings to deliver better.

    Related: The Secret to How Businesses Can Fully Harness the Power of AI

    2. Drive employee productivity

    AI should be seen as a gateway to make work more meaningful and efficient, not replace jobs. Using generative AI to eliminate dreaded, time-consuming tasks will keep your employees engaged. It will grant them the ability to focus on more creative tasks they’re passionate about. Employee engagement is a metric entrepreneurs can’t overlook because it translates to 23% higher profitability.

    Since newer forms of AI are learning to be intuitive and interact naturally with humans, start by using AI that communicates with your teams and learns from their feedback to boost productivity. For example, generative AI has advanced the possibilities of working with chatbots. Teams can now summarize and pull data from chatbot-powered customer surveys and much more.

    3. Predict market trends more accurately

    For entrepreneurs to make informed decisions about investments, strategies and products, they must understand market trends. Generative AI is helping entrepreneurs gather more quality data than earlier AI forms.

    AI is excellent at analyzing large sets of data, but generative AI can gather insights from unstructured data, like social media posts, audio files, text and other content. To be successful, entrepreneurs must pull in this additional information accessible to them through generative AI.

    Generative AI can also create simulations to determine the impact of hypothetical “what-if” situations. Researchers at the University of Pennsylvania used generative AI to simulate the spread of COVID-19 and the efficacy of different responses. Audi used simulations to model manufacturing strategies and reduce its assembly line cycle time by 30%.

    As an entrepreneur, you can benefit greatly by using generative AI for market simulation. If you don’t use these tools, you’ll be operating with less complete, lower-quality information than your competition.

    Related: How to Protect and Improve Your Business with AI During Challenging Times

    Know where to draw the line

    There are dangers in relying too heavily on gen AI. For example, AI uses data inputs for results. If the data is flawed, it can have consequences. This issue is already appearing in recruitment and hiring practices. Amazon canceled an AI-powered recruitment program after it proved to be biased against women. If you lean too much on AI alone, you could find yourself violating employment laws.

    You’ll need to be aware of ethical concerns to avoid instances of sharing sensitive information or violating data privacy laws as well. Generative AI can also hallucinate, meaning that it might give entirely wrong information, but package it in convincing language and reassuring confidence. Turning over too much responsibility to a chatbot could cause more harm than good.

    For example, experts are warning against relying too much on tools like ChatGPT for search engine optimization (SEO). Google may decide to penalize companies that publish automated content, undermining their past SEO work. Make sure that your team has a process in place to check the outputs of the AI it’s using.

    There was the case of the “ChatGPT lawyer,” who used the tool to draft a motion and ended up citing fake cases in court. The firm faced a fine and public humiliation, but in fields like health care, the consequences of faulty information could be worse and more dangerous.

    Smart entrepreneurs will understand how to intelligently and strategically use generative AI, but they’ll know where to draw the line. My advice is to be as savvy about the technology you employ as you are about the people you hire.

    However, don’t delay. Challenge your teams to use generative AI to work productively. Decide on a few areas of focus to implement it now, whether it’s personalized content creation, marketing efforts, software development, customer operations or data analysis. Trust me, your competitors are already doing so.

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    Tom Livne

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  • How to Manage the Expense That’s Costing Your Company a Ton | Entrepreneur

    How to Manage the Expense That’s Costing Your Company a Ton | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Many businesses don’t give it much thought, but a huge expense lurks in their books that can easily spin out of control. I’m talking about the cost of cloud services, which almost every company needs to compete in today’s world.

    Just how volatile are cloud costs? It isn’t a pretty picture. In a survey of 750 U.S. enterprises from a wide range of industries, more than a third had cloud budget overruns of as much as 40%, and 1 in 12 topped that number. The global situation is equally shocking. Worldwide, businesses will invest almost $600 billion in cloud spending this year. Conservative estimates indicate that nearly 30% of that — around $180 billion — is wasted.

    Most companies wouldn’t tolerate such wastefulness in any other part of their business. But runaway cloud costs remain an exception, partly thanks to opaque billing. A typical scenario: A business learns that its tab from Amazon Web Services or another big cloud provider has jumped from $100,000 to $150,000 in just one month. What gives? Cloud may be simple to buy, but good luck deciphering that invoice, which can list thousands of acronym-filled services used by company software engineers.

    Having served as CFO of several tech companies, I’ve seen how quickly those costs can add up. Think of it as the Wild West of spending — massive, unpredictable costs with little or no accountability. That’s why it’s so important to have a strategy for managing cloud expenses. For entrepreneurs and their companies, taming the beast means more money to invest elsewhere.

    Here’s how cloud costs became such a big problem — plus five tips for reining them in.

    Related: 3 Ways Tech Companies Can Bring Their Cloud Costs Back to Earth

    Why cloud is so easy to buy — and costs are so hard to control

    In the old days, businesses bought and maintained their own servers. Scaling up meant buying more hardware, a time-consuming task. Then, the cloud came along and changed all that, catering to companies’ growing appetite for on-demand computing resources. The good news: Software engineers could quickly buy what they needed without waiting for lengthy approval and procurement processes, helping accelerate innovation. The bad news? Lack of control over spending, which continues to balloon as offerings grow ever more complex.

    For most businesses, the dirty little secret is that they don’t understand how much cloud computing power, storage and other features they actually need. There’s often poor visibility into what other teams are doing, plus minimal accountability, with no one setting or enforcing budgets. This is compounded by a lack of tools to help them look under the hood.

    How to save your company money on cloud costs

    Working with Fortune 1000 companies, from big banks to airlines, I’ve seen up close how dramatic the cost savings can be. Here are five ways to take action:

    1. Spread the word that everybody wins by cutting cloud costs

    Reining in cloud spending starts with education and awareness. Simply sharing with employees the true magnitude of the problem can be powerful. We aren’t talking about saving a few dollars. At many companies, the waste from cloud spending amounts to one of the single biggest budget items.

    Then, rather than take a Big Brother approach, sell teams on the benefits of lower costs. The more a business can control cloud expenses, the more money it will have to hire another software engineer to develop a new product or another sales rep to penetrate a new market. The message: Everybody wins by getting it right.

    2. Get FinOps on the case

    FinOps (financial operations) might sound technical, but it’s just a name for the team that creates a process and framework for managing cloud costs. From sales to HR, nearly every department has a dedicated, expert operations team these days. As a major operational expense, cloud needs the same attention.

    The FinOps team might be just two or three people — say, a senior finance executive and the CIO or CTO. Have them create a framework that encourages accountability by assigning ownership of cloud spending to different business units. To get a clear, detailed picture of costs, give each team responsibility for its own budget and how much cloud it consumes.

    3. When in doubt, automate cloud controls

    Manually reviewing cloud bills each month for overruns and inefficiencies might sound archaic, yet far too many companies still rely on this ad hoc approach. A far better strategy: Leverage the growing number of tools on the market that help companies gain visibility into cloud spend in real time, flag overruns, automatically optimize where resources are allocated and even offer suggestions for economizing spending.

    For example, an alert system to detect spending anomalies should be table stakes. Besides catching questionable purchases by staff, this alarm can catch intruders — for instance, crypto miners mooching off the company’s servers.

    To avoid shelling out for idle cloud computing power, organizations can also use auto-stopping tools. Let’s say that each day from 9 p.m. to 6 a.m., usage of a subscription service drops to zero. Dispensing with manual controls, auto-stopping takes that expense off the board.

    4. Make cloud part of the procurement process

    Automation of governance and approvals is crucial, too. Would a company approve the purchase of a large piece of equipment with no questions asked? Any business spending millions of dollars a year on the cloud should have procurement controls. With a cloud asset policy tool, it can establish guardrails that require people to justify their cloud spending.

    5. Keep ‘tending the cloud garden’

    Like a garden, cloud costs require consistent pruning. After taking a weed whacker to the biggest, most wasteful expenses, keep tending the smaller ones, or they’ll quickly grow out of control again. Cloud cost forecasting can help reduce the uncertainty around future usage.

    All that yard work is well worth the trouble, because the potential savings are enormous, as much as 30% to 50% for many businesses. That’s real money better spent somewhere else — on product development, customer acquisition and the teams for whom the cloud should be a means to drive innovation, not a costly headache.

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    John Bonney

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