Small Business

The role of AI in content optimization

Fri, 26 Apr 2024 04:21:28 +0000

In today's world of digital content, the battle for attention is fierce. With an endless supply of information at our fingertips, it's become increasingly difficult for businesses to stand out and capture the interest of their target audience. That's where AI comes in. Artificial intelligence is ch

16 Vote(s)

How to Create Stunning Designs Using Canva Services

Fri, 26 Apr 2024 03:54:29 +0000

Unlock your creative potential with Canva's user-friendly design platform! Tailored for everyone from small business owners to social media managers and freelancers, Canva offers a vast array of customizable templates for all your digital marketing needs. With its intuitive drag-and-drop interface,

16 Vote(s)

Pups Pub Franchise Opportunity Launched — The Franchise King®

Fri, 26 Apr 2024 03:37:31 +0000

Exciting news! Pups Pub is expanding its dog bar concept through franchising. Find out how they are taking their brand national. Do you love doggies?

16 Vote(s)

‘To the Future’: Saudi Arabia Spends Big to Become an A.I. Superpower

Fri, 26 Apr 2024 01:08:30 +0000

The oil-rich kingdom is plowing money into glitzy events, computing power and artificial intelligence research, putting it in the middle of an escalating U.S.-China struggle for technological influence.

RoboBurger secures venture loan for burger vending machines

Fri, 26 Apr 2024 00:12:00 +0000

RoboBurger, a groundbreaking enterprise featured on ‘Shark Tank’, has secured a $1.5 million venture loan offer to advance their innovative burger vending machines. This revolutionary concept stoked the interest of investor Kevin O’Leary and guest financier, Michael Rubin, who see the start-up’s invention as a potential disruptor in the fast-food industry.

Despite initial skepticism, RoboBurger’s demonstration of automated, sanitary, and efficient burger preparation swayed opinions. The cutting-edge machine can churn out a customizable burger in under five minutes with minimal human intervention. The undeniably transformative concept eventually convinced the investors, leading to an intense deliberation.

However, some investors questioned the start-up’s strategy in the face of fierce competition in the robotics industry. Regular investor Mark Cuban was notably critical. In response, Rubin suggested an innovative venture loan deal, which converts debt into equity.

Securing funds for RoboBurger’s automated ventures

This proposal stimulated a keen debate among investors.

The proposed $1.5 million venture loan includes a ‘market rate’ interest repayment clause and a 10% stake in the company’s equity, offering potential high-returns to the investors. Yet, the deal is also laden with risks, subject to the company’s performance in a volatile market, prompting potential investors to exercise cautious judgment.

Focusing on their unique business model, RoboBurger aims to lease or sell their machines, with the user responsible for restocking. The company projects $1.4 million in annual revenue, despite potential losses, and plans to expand their market presence. While promising, the ambitious business plans come with their challenges such as controlling the operational costs while ensuring consistency and quality in a fluctuating market environment.

With the funds, the company’s CMO, Andy Siegel, aims to accelerate manufacturing and amplify the vending machine’s market presence. Despite potential risks, RoboBurger’s autonomous vending machine concept has left a lasting impression on the ‘Shark Tank’ investors and audience alike. Going forward, focus on customer support and continuous innovation will be key to RoboBurger’s future success.

Boosted by the ‘Shark Tank’ exposure, RoboBurger has emerged as a promising start-up in the automated food industry. With the potential to reshape fast food business models, the future is exciting but also challenging for the start-up as it prepares to navigate the evolving market landscape and rise above potential competition.

The post RoboBurger secures venture loan for burger vending machines appeared first on SmallBizTechnology.

Q&A: The fashion label that is transforming surf culture

Fri, 26 Apr 2024 00:00:00 +0000

For this week’s feature, we got to have a conversation with Georgina Browne, the founder of the surfwear label Aramita James. Georgina launched the brand at the height of the COVID-19 pandemic and saw instant success. Beyond being a successful beach fashion brand, Aramita James takes pride in helping establish a community for the quintessential Australian beach girls who supporting the brand.

ISB: What inspired you to come up with the idea of making surfwear fashionable?

GB: Perhaps my upbringing in Melbourne influenced that desire, as we leaned towards more structured and tailored pieces. When I moved to Noosa, Queensland, with its coastal lifestyle, I blended that aesthetic with more relaxed lounge fabrications, such as terry towelling, which has now become a core staple for the brand.

ISB: Araminta James became an overnight success when it first launched; how did you achieve such a feat?

GB: I don’t believe in luck, but I do believe in hard work and timing. In February 2021, I launched a collection of Terry towelling sets online. Then, COVID hit and everyone naturally gravitated to a lounge aesthetic. My Instagram and website literally exploded overnight, reaching places like Paris, London, Japan and the USA. The whole world started buying my sets through a few key influencers who were at home and sharing content, tagging Araminta James. I guess in hindsight, the whole world wanted tracksuits and I had the right aesthetic at the right time.

ISB: How important is it to be able to build a community around the brand?

GB: Great question! Yes, yes, yes… this is integral. Product and community are equally important. The “overnight success” of Araminta James was preceded by me working as a womenswear designer for top Australian retailers. I had spent 15 years honing my craft, so by the time I had the courage to launch my own business (through Instagram), I was just so excited and beyond grateful to have a platform to talk directly to my customers. I love talking to our community as that informs me as a fashion designer.

ISB: What was the most challenging aspect of growing this brand internationally and how did you deal with such a challenge?

GB: I am a hyper-creative fashion designer who is not great at maths. So yes, super-fast growth globally presented its challenges in running a business. I was the designer, product developer, social media manager, returns manager, accountant, logistics, packing orders (out of my garage)… hence, my time was spread too thin. That has all changed now as the business is now 5 years old. I have slowly built an epic team of girl bosses who work alongside me. In hindsight, entrepreneurship is all about overcoming challenges, nobody cares how smart you are. I focus on designing fashion and obsessing over products, that’s what truly counts. It’s about creating innovative products and ensuring a seamless customer experience. Then, in the background, I will find people in business who can help find the answers to the questions that present themselves daily.

ISB: What are your plans for Aramita James in the next couple of years?

GB: We are about to launch in Tokyo. Seriously, it feels surreal even saying it out loud. So, yes, global expansion through Asia, Europe and the USA, while nurturing our home turf in Australia. I have recently moved back to Melbourne, so opening a store in my hometown would be a dream come true.

ISB: If there is one piece of advice you can give to young women looking to start their business journeys, what would that be?

GB: Just do it. Maybe don’t tell everyone straight away (people love talking about the negatives). Find the gap in the market or the product that resonates with you and obsess over it. Start an Instagram account plus a Shopify account and go for it. Learn as you go, don’t be afraid to ask questions. My favourite quote is, ‘If there is no seat at the boardroom table, build your own table.

The post Q&A: The fashion label that is transforming surf culture appeared first on Inside Small Business.

Apple acquires Datakalab to boost AI capabilities

Thu, 25 Apr 2024 18:34:00 +0000

Tech heavyweight Apple has acquired French artificial intelligence (AI) startup Datakalab. The deal, which was confirmed on December 17, demonstrates Apple’s growing commitment to advancing its AI performance.

Datakalab’s focus on facial analysis technology is set to greatly improve Apple’s current AI capabilities. The exact financial details remain confidential, aligning with Apple’s usual practice.

Datakalab, established in 2016, is revered for creating AI algorithms that are power efficient and highly adaptable for mobile devices. The company prides itself on providing fast, cost-effective, and accurate vision computing.

This acquisition meshes with Apple’s strategy to supercharge its devices with superior AI capacities, potentially starting with the forthcoming iOS 18.

Apple’s purchase of Datakalab enhances AI

This move underscores Apple’s commitment to personalized, intelligent devices that enhance user experience.

Apple’s research team has developed an AI system known as ReALM (Reference Resolution As Language Modeling). This innovative mechanism simplifies the process of interpreting visual cues on screen by converting them into linguistic tasks, thus enhancing AI voice interaction.

An independent AI researcher commented on AI’s potential to elevate customer experiences, encourage loyalty, and bolster sales. AI’s capacity for real-time data analysis can predict customer needs and preferences for highly personal interactions.

Currently, Apple is reportedly in discussions with Google to embed Google’s AI system within the iPhone. In conjunction with exploring potential collaborations with other companies to incorporate their AI technology, this marks a significant effort by Apple to diversify and strengthen their AI capabilities.

The post Apple acquires Datakalab to boost AI capabilities appeared first on SmallBizTechnology.

Additional information needed to deliver service

Thu, 25 Apr 2024 14:12:00 +0000

We apologize for the recent confusion. It seems there has been a misunderstanding and we need additional information to move forward. Without this, we’re unable to give you the service you’re looking for.

Rest assured, once we receive the right information, we will thoroughly analyze the content. Our aim is to extract and present key points accurately to fulfill your needs.

Requesting vital service delivery information

However, we’re currently unable to proceed without the necessary context or sources.

Therefore, we kindly request you to share appropriate information or document. It will enable us to better assist you. If there are certain areas you want us to concentrate on, please don’t hesitate to make them known.

Acknowledging your understanding and patience while we resolve this matter is highly appreciated. As soon as we have what we need, you can count on us to deliver clear and concise content in tune with your expectations.

The post Additional information needed to deliver service appeared first on SmallBizTechnology.

Father and Nonprofit Founder Stephen Johnston Shares His Inspiring Journey on the Simple + Intentional Podcast

Thu, 25 Apr 2024 14:03:45 +0000

In a recent episode of the Simple + Intentional podcast, Stephen Johnston, a father, radiologist, nonprofit founder, and Ironman athlete, opened up about his remarkable story of resilience and purpose in the face of his son’s devastating diagnosis.

When Stephen learned that his 10-year-old son Luke was going blind due to a rare genetic condition called Bardet-Biedl syndrome, he was initially overwhelmed by grief and a sense of helplessness. However, he soon transformed his pain into a driving force for action, founding the nonprofit organization A Race Against Blindness.

During the podcast episode, Stephen candidly discussed his journey, from the initial diagnosis’s emotional turmoil to embracing the mistakes and lessons learned while building his nonprofit from the ground up. He emphasized the importance of allowing oneself to fully experience and process difficult emotions as a crucial step toward healing and finding purpose.

Stephen shared, “Feeling is a very important thing. It’s okay to feel that pain and embrace it and let that pain go through its process that it has to go through. It’s a healing process.”

This approach ultimately led him to channel his energy into creating A Race Against Blindness, with the mission of funding sight-saving research for Luke and thousands of others affected by the same retinal disease.

Despite having no prior experience in the nonprofit world, Stephen’s passion propelled him forward, and he actively sought knowledge from others’ experiences to navigate the challenges and mistakes inherent in any new endeavor. He emphasized the importance of prioritizing self-care, seeking deliberate challenges to build mental toughness, and minimizing distractions to maintain productivity and focus.

In closing, Stephen encouraged listeners to find a cause that ignites their passion and get involved, emphasizing the immeasurable benefits of being part of something greater than oneself. “It will inspire and change you in ways you cannot imagine,” he said.

Hear the full episode of Simple + Intentional by visiting https://podcasts.apple.com/us/podcast/42-turn-your-pain-into-action-live-more-intentionally/id1678834022?i=1000641584107.

About Stephen Johnston

Stephen Johnston, MD, MBA, is a father, radiologist, non-profit founder, and Ironman athlete. When he found out his nine-year-old son, Luke, was going blind as a result of a rare disease, he founded A Race Against Blindness to fund sight-saving research for his son and thousands of others like him.

Though Stephen is relatively new to the nonprofit world, he’s a man on a mission to raise $1 Million for a clinical trial and taking on challenges like Ironman to raise money and be an example for his son. So far, they’ve raised over six figures, been featured on GoodMorningAmerica.com and the Dan Karaty If I’m Being Honest podcast, and had TV spots in multiple major markets.

Stephen lives outside of Phoenix and spends his spare time training for his next Ironman and traveling with his family to create lifelong sighted memories for Luke.

Leveraging Growth Hacking for Competitive Advantage in 2024

Thu, 25 Apr 2024 12:20:58 +0000

This article explores how companies can leverage growth hacking techniques to gain a competitive edge, showcasing recent trends, and strategies.

16 Vote(s)

How is AI adoption transforming the healthcare industry? - noupe

Thu, 25 Apr 2024 11:08:32 +0000

Discover how AI-powered tools can enhance disease diagnosis with providing accurate results. Additionally, learn more about how AI transforms the healthcare industry and improves patient's health.

16 Vote(s)

Engagement Farming: Why Is Asking Questions A No-No Today?

Thu, 25 Apr 2024 06:50:59 +0000

I have managed social media for over a decade and about 25% of social media posts start or end with a question. It's a way to get people to think about your point or content. That is until the social media networks decide that you can no longer ask questions which may be considered engagement farmi

16 Vote(s)

The Ethics of Artificial Intelligence: Challenges and Considerations for Businesses

Thu, 25 Apr 2024 06:00:16 +0000

Explore the ethical challenges of AI in business, covering transparency, fairness, privacy, and accountability, with strategies for ethical implementation.

16 Vote(s)

6 Counterintuitive Approaches to a Winning Disruptive Opportunity

Thu, 25 Apr 2024 05:18:18 +0000

Every business leader with a new technology tells me that his innovation will be industry-disrupting, meaning that it will render the existing technology obsolete, and create a new market. Yet truly disruptive innovations, like the smartphone from Apple and the rise of the Internet, are very rare,

16 Vote(s)

Beginner\'s Guide to SEO

Wed, 24 Apr 2024 22:09:05 +0000

If you are not sure where to start with SEO, feel free to check out our beginner's guide to SEO! If you have any questions please ask :)

1 Vote(s)

Leveraging HELOC Loans for Business Expansion

Wed, 24 Apr 2024 21:52:15 +0000

Businesses often start small, but they don’t always stay that way. As you learn to navigate your industry and market, you’ll likely form plans to expand your operations and grow your business.

However, finding the capital to fund your plans can be challenging. Many business owners apply for business loans or grants to access more funds. However, the process can be complex, and many trusted financial institutions have low loan approval rates.

One good alternative to business loans is a HELOC loan. Read below to learn more about how it works, its advantages, and potential risks.

Understanding HELOC Loans

HELOC is short for “home equity line of credit.” As the name suggests, it allows people to borrow money using the equity they have in their homes.

A home’s equity refers to the difference between the market value of your property and the amount you still owe on the mortgage.

A HELOC works like a credit card. Once approved for a specific credit limit, you can borrow from that amount for any reason with a relatively lower interest rate than other loans. As you repay the amount you borrow, the credit becomes once again available.

The interest rate for HELOC loans can change depending on the market conditions. Your home will also become the collateral for a HELOC. If you’re unable to repay your loan for any reason, you might risk the foreclosure of your property.

How It Works in Financing a Business

Finding money to start or improve your business can be a challenge. Bank loans can get competitive and require high-interest rates. Therefore, many business owners must find creative ways to fund their startups or new initiatives.

One way to fund your business is through a HELOC loan. You can take out a loan from your HELOC for virtually any reason as long as you have the equity.

If you’ve built up enough equity for your property by paying your mortgage promptly or making value-adding improvements, a HELOC is a good source of business funds.

Advantages of Using HELOC in Business

Finding ways to finance your enterprise can be tricky, and HELOC loans have emerged as an innovative way to fund further growth and opportunities. Here are some key advantages of using HELOC loans to expand your business:

Easier approval

Traditional business loans and grants often entail a lengthy and arduous process. They usually require strict criteria and extensive documentation.

HELOCs can be a suitable alternative, as the approval processes aren’t as strict as other business loans. Taking advantage of the equity in your current properties allows you to sidestep the challenges of conventional loans and gain easier access to additional capital.

Competitive interest rates

HELOC loans are an attractive alternative to traditional business loans by providing competitive interest rates. While these rates may change, you’ll likely find a HELOC loan that offers lower interest rates than traditional business loans.

This cost-effective pricing structure helps minimize the financial strain on businesses and enhances profitability by minimizing loan-related costs.

Flexible repayment

HELOC loans often have two phases—the draw and the repayment periods.

During the draw period, you can take money out of your HELOC for as much as the limit allows. You only have to pay the minimum amount or the interest rate during this phase.

After the draw period comes repayment, which usually lasts up to 20 years; you won’t be able to borrow money from your HELOC anymore during the repayment period. Instead, you’ll have to repay the amount you owe, both principal and interest.

This structured repayment system allows you to plan your loans well. It also provides enough leeway to ensure prompt payments.

Possibility for larger loans

Businesses that have scalability in mind can significantly benefit from HELOC loans. If you have established high equity in your residential properties, there is a good chance that you’ll gain access to larger credit lines.

This equity-based credit line can be the answer to finding the necessary funds to achieve business expansion.

Disadvantages of Using HELOC for Business Expansion

While HELOC loans offer attractive benefits to businesses seeking funding, they also carry risks and disadvantages. Understanding these potential outcomes can help you weigh your options and make better financial decisions.

Changing interest rates

One of the primary concerns with taking out HELOC loans is their variable interest rates. While you can access lower interest rates at certain times, these rates can change depending on market conditions.

Higher interest rates could pose significant challenges for businesses and cause financial strain. Abrupt changes in interest rates could also disrupt your financial projections, affecting overall profitability.

If you choose to fund your business expansion with a HELOC loan, it’s vital to consider this factor and develop risk mitigation strategies.

Risk of foreclosure

A HELOC loan is a secured loan, meaning you’ll need to put an asset up as collateral. In this case, your collateral will be your residential property. In the event of a default, you might lose your home.

Harness Financial Opportunities

HELOC loans present an attractive funding opportunity for businesses seeking further growth. Their accessibility and favorable terms can help entrepreneurs realize their plans for scalability and expansion.

However, like any financial decision, taking out a HELOC loan requires careful planning and consideration. Understanding the benefits and drawbacks of such a loan can help companies maximize its advantages and plan for potential risks.

The post Leveraging HELOC Loans for Business Expansion appeared first on SmallBizTechnology.

AI and fintech integration: A potential solution for global supply chain issues

Wed, 24 Apr 2024 20:49:00 +0000

The integration of artificial intelligence and financial technology could be the key to enhancing global financial services and addressing long-standing data issues within the financial sector. Experts suggest that this merger could lead to more efficient and transparent operations within supply chains while providing solutions for traditional issues like data discrepancies and mismanagement.

Global supply chains have been negatively affected by various ongoing issues such as the Red Sea crisis, the COVID-19 pandemic, and disruptions to commercial shipping containers. These issues have led to increased delivery times and unexpected costs, severely affecting businesses worldwide. Experts believe, international cooperation, effective crisis management, and significant infrastructure investment are crucial to ensuring the sustainability and robustness of global supply chains.

Recently, businesses have felt pressured to seek better methods of sourcing materials and streamlining shipping processes, largely due to frequent global supply chain disruptions. This pressure has amplified a need for more dynamic and efficient systems to manage the global spending on supply chain services and logistics.

AI-fintech merger: Addressing global supply chain woes

Enterprises seem to be turning to advanced analytics software and digital tools as solutions, which could potentially enhance their resilience in the face of disruptions and boost their profitability.

Despite recent developments and the emergence of startups aimed at modernizing these processes, efficiently managing supply chain financial transactions remains a considerable challenge for shippers and service providers. Numerous obstacles such as differences in regional financial systems, delayed deliveries, and unstructured data all contribute to the issue. Additionally, changing environmental regulations and varying customer expectations increase complexities and costs.

The proposed solution is the integration of AI and fintech. This merger aims to help businesses process essential information more efficiently and precisely, leading to improved financial decisions. Experts anticipate this fusion to revolutionize the global supply chain, optimizing financial management, enhancing customer experience, and mitigating risks, thus setting the stage for a smarter and more resilient global economy.

The post AI and fintech integration: A potential solution for global supply chain issues appeared first on SmallBizTechnology.

Summer Hartman Launches Premier Newborn Care Specialist School: A Blend of Expertise and Excellence

Wed, 24 Apr 2024 20:09:23 +0000

Empower Your Career with the Pinnacle of Newborn Care Education: Where Expertise Meets Excellence in our Premier Newborn Care Specialist School was created by Summer Hartman, creator of the NewbornIQ.com courses. The new platform emphasizes the program’s commitment to providing unparalleled educational content and practical knowledge in the field of newborn care.

Video Link: https://www.youtube.com/embed/oERtuiRUt-I

About the Program

The Newborn Care Specialist School at NewbornIQ.com is an advanced training program that combines a comprehensive curriculum, evidence-based practices, and real-world applications to prepare individuals for a successful career in newborn care. The program covers essential topics such as overnight newborn care, sleep shaping, professional ethics, and much more, ensuring that graduates are well-equipped to provide top-tier support to families and their newborns.

What Sets NewbornIQ.com Apart

Comprehensive Training: With 76 detailed modules and succinct videos averaging 6-7 minutes each, the program offers in-depth coverage of every aspect of newborn care.
Evidence-Based Curriculum: Developed over 22 months from 2021 to 2022, the curriculum is continually updated with the latest research and practices in newborn care.
Flexibility: Students have unlimited access to the course materials, allowing them to learn at their own pace while prioritizing the development of their own business.
Professional Accreditation: The course is approved by the American Association of Drugless Practitioners, highlighting its credibility and adherence to the highest standards.

Empowering Newborn Care Professionals

NewbornIQ.com’s program is not just about imparting knowledge; it’s about shaping the future of newborn care by empowering professionals with the skills, confidence, and professionalism needed to excel. “Our training goes beyond the basics, focusing on creating a comprehensive understanding of newborn care and the intricacies of serving as a Newborn Care Specialist,” Hartman stated, underscoring the program’s holistic approach to education and career development.

Enrollment and Additional Information

For those interested in turning their passion for newborn care into a rewarding career, NewbornIQ.com offers the perfect starting point. Enrollment is open, with additional details and registration options available on the website.

Empower your career and join the ranks of highly skilled, professional Newborn Care Specialists by starting your journey with NewbornIQ.com today.

“Empower Your Career with the Pinnacle of Newborn Care Education: Where Expertise Meets Excellence in our Premier Newborn Care Specialist School,” said Summer Hartman, creator of the NewbornIQ.com courses, emphasizing the program’s commitment to providing unparalleled educational content and practical knowledge in the field of newborn care.

Dan Brooks, with Xexis Private Wealth, Interviewed Influential Entrepreneurs Podcast Discussing Things Advisors Don’t Explain That Could Negatively Impact Retirement

Wed, 24 Apr 2024 20:06:31 +0000

Dan Brooks discusses navigating the hidden risks in retirement planning.

Listen to the interview on the Business Innovators Radio Network: https://businessinnovatorsradio.com/interview-with-dan-brooks-founder-of-xexis-private-wealth-discussing-things-your-current-advisors-havent-explained-that-could-negatively-impact-your-retirement/

Financial advisors may unintentionally neglect to fully explain certain aspects of retirement planning, not necessarily out of malice but due to a lack of expertise or restrictions from their firms. In a podcast episode, Dan Brooks, the founder of Xexis Private Wealth, highlighted that advisors may not intentionally leave out crucial information that could impact retirement planning negatively.

He mentioned that advisors working for big financial firms are often limited by the firm’s guidelines and may not have the freedom to provide comprehensive advice to their clients. This limitation can result in clients not being informed about all the available options or potential risks associated with their retirement plans.

Furthermore, Dan emphasized that advisors may lack expertise in certain areas of retirement planning, leading to gaps in the advice they provide. For example, some advisors may focus on specific aspects of financial planning, such as investments, while neglecting other critical areas like estate planning or tax implications. This specialization can result in clients not receiving a holistic and well-rounded retirement plan that addresses all their needs and concerns.

Moreover, Dan pointed out that some advisors may not have the necessary training or experience to fully understand the implications of their recommendations. He shared a personal anecdote where he realized the shortcomings of the advice he provided earlier in his career when he worked for a large financial firm. This lack of awareness can lead to clients not being fully informed about the potential risks, fees, or consequences of their financial decisions.

Dan said: “Many times their training doesn’t include the comprehensive advice that you could be receiving. So when people ask me, how would I know what I don’t know? That’s a scary thought. It is, and it’s true of all of us. We don’t know what we don’t know. But in the financial planning, and retirement planning arena, there are some ways to put the odds in your favor.”

Video Link: https://www.youtube.com/embed/eP1LnYtAaLU

About Dan Brooks

Dan entered the U.S. Navy’s Nuclear Power program after high school and upon discharge, he purchased the family business which he operated for 7 years.

After his father’s death, he discovered his father lost a small fortune due to bad advice from a stock broker. Dan decided to enter financial services to find out how this could happen and help others avoid it.

In 2004 he completed the Certified Financial Planner coursework and in 2005 opened a Registered Investment Advisor firm.

He owns both a Financial Advisor firm and a tax firm based in Lake Mary, Florida. Dan works with a Registered Investment Advisor firm that manages over $3 billion dollars and is one of the fastest-growing firms in the nation.

Dan’s specialty is comprehensive retirement planning, including income planning, tax mitigation, catastrophic health care planning, Medicare, Estate Planning, and Generational Wealth.

On a personal level, his proudest accomplishment was being a single father to his daughter, who is a Police Officer. He enjoys golf, hiking, traveling, cooking, and discovering new restaurants.

Learn More:

http://www.xexiswealth.com/

Recent news and interviews:

Dan Brooks Discusses Understanding Critical Concerns of Retirement Planning:

https://authoritypresswire.com/dan-brooks-founder-of-xexis-private-wealth-interviewed-on-the-influential-entrepreneurs-podcast-discussing-understanding-critical-concerns-of-retirement-planning/

Dan Brooks Discusses The Tax Implications of Large Retirement Accounts:

https://authoritypresswire.com/dan-brooks-founder-of-xexis-private-wealth-interviewed-on-the-influential-entrepreneurs-podcast-discussing-the-tax-implications-of-large-retirement-accounts/

Investment advisory services offered through Virtue Capital Management, LLC (VCM), a registered investment advisor. VCM and Xexis Private Wealth, LLC are independent of each other. For a complete description of investment risks, fees, and services, review the Virtue Capital Management firm brochure (ADV Part 2A) which is available from your Investment Advisor Representative, or by contacting Virtue Capital Management. Information provided is not intended as tax or legal advice and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional.

53 Essential Gig Economy Statistics

Wed, 24 Apr 2024 19:00:53 +0000

The gig economy, characterized by temporary or flexible jobs, is an increasingly significant part of the global economy. Understanding the statistics behind this trend is of great value for employers, employees, and businesses adapting to this new way of work. This article provides a comprehensive guide to the history and future of gig economy with over 53 essential gig economy statistics.

The Growth of the Gig Economy

The gig economy has been experiencing a significant surge in recent years. This growth is fueled by a combination of technological advancements, changing workforce demographics, and evolving business needs. As traditional employment models are being challenged, more individuals are turning to gig work for its flexibility and autonomy, while businesses are leveraging it for cost efficiency and access to a broader talent pool.

This shift towards a more flexible, project-based, and on-demand workforce is not just a fleeting trend but a fundamental change in the way we view work and employment. The gig economy’s rapid growth signifies a paradigm shift in our society, underscoring the need for businesses, policymakers, and workers to adapt and thrive in this new landscape.

The Rise in Independent Workers

In 2022, freelance work in the American workforce increased to 39%, marking a three-percentage-point rise from the previous year. Among hiring managers engaging independent talent, 66% intend to boost their utilization or the number of freelancers within the next two years. Various types of freelancers significantly contributed $1.35 trillion to the U.S. economy in annual earnings in 2022, representing a $50 billion increase from 2021.

The global gig economy comprises up to 12% of the labor market and generated $5.4 trillion in revenue in 2021. Projections suggest that India’s gig workforce will grow to 23.5 million workers by 2029-30, while in the UK, gig economy workers constitute merely 1.4% of total employment.

Gig Economy Platforms and Marketplaces

The projected gross volume of the gig economy is expected to reach $455.2 billion.
Some of the most popular gig platforms are Airbnb (vacation rentals), Amazon Flex (package delivery), Deliveroo (food delivery), Dolly (moving), DoorDash (food delivery), Fiverr (freelance work), Instacart (grocery service delivery), iVueit (commercial property pictures), Lyft (ridesharing), Amazon Mechanical Turk (online crowdsourcing), Qwick (venue staffing), Rover (dog care), TaskRabbit (odd jobs), Uber (ride-hailing), and Upwork (freelance work).
In 2022, 16% of Americans used a gig platform to earn additional income. By 2023, that figure has risen to nearly 20%.
Gig workers contributed around $1.21 trillion to the U.S. economy in 2020, which is roughly 5.7% of the total U.S. GDP.
In the U.S., gig workers’ incomes varied significantly. Nearly half of them, 49%, made less than $50,000 annually. About 28% fell into the income range of $50,000 to $99,000 annually, while 23% earned between $100,000 and $4 million yearly from their gig work.

Gig Economy Statistics: Employment and Income

At least 59 million American adults participated in the gig economy in 2020, roughly 36% of the U.S. workforce.
24% of workers across 19 countries are full-time gig workers while 9% are also employed in a traditional setting.
40% of workers participate in gig work while still employed, compared to 30% who prefer doing only gig work full time.
There were 9.94 million self-employed people in the US as of January 2023.
A better work-life balance is why 70% of freelancers opt to work in the gig economy.

Employment Status and Types of Gig Workers

Approximately 39-40% of U.S. adults have a side hustle.
In 2023, Americans with a side hustle make, on average, $810 a month from the extra work.
Nearly 5 million people had income reported for platform-based gig work to the IRS.
The total number of people who collected money from platform gig work more than tripled from 2017 to 2021.
Almost half (47%) of gig workers in the US have full-time jobs.
30% of younger US adults (ages 18-29) have made money through gig work at some point.

Income and Job Stability

56% of gig economy workers say they take gig jobs to earn money on top of their main source of income.
The highest-paying gig economy job in the United States is massage therapy — paying an average $27.34 an hour.
The average annual income of full-time employees is $62,500, while for independent workers it’s only $36,500.
One of the reasons for such a large discrepancy is that gig workers work less on a weekly basis than traditional workers (25 hours a week versus 40 for full-time employees). This makes it difficult for American freelancers to manage their daily finances.
Income levels improve with age. Millennial independent workers earn an average of $27,500, Gen Xers earn $36,300, and baby boomers $43,600. It’s interesting to note that the average baby boomer earns more than the average Gen Xer, even though the latter works longer hours.

Gig Economy and Worker Satisfaction

In 2021, only 1% of gig economy workers in the United States reported being very dissatisfied with independent work. In contrast, 77% of people working in the gig economy reported being very satisfied with their job.
The gig economy offers flexibility and autonomy and appeals to workers’ entrepreneurial spirits.
79% of freelancers are happier working independently than at traditional work.
Convenience and earning potential were the most powerful persuaders followed by recommendations from friends and family, in addition to ads from gig service platforms.
With more than a quarter falling victim to fraud or identity theft, while using a gig platform, participants expect gig platforms to protect identities and mitigate fraud.
Gig platforms usually don’t provide gig workers with benefits such as health insurance and paid time off.
Gig workers have less job security, and they take on more risk doing gig work by using their own vehicles to do delivery or their own computers and tools to do creative freelance work.
37% of full-time independent workers are aged 21-38.
About 73.3 million freelancers will work in the USA by 2023.

Flexibility and Control

The traditional 9-to-5 grind is being incrementally replaced by a model more reflective of today’s fluid, digital world: gig work. This paradigm shift offers flexibility and autonomy and appeals to workers’ entrepreneurial spirits.
Gig economy workers have many different reasons for starting work in the gig economy and tend to prefer the flexible working hours and extra income that the gig economy allows them to have.
The gig economy does not only consist of people who exclusively work gig jobs, as the majority of gig economy participants have a full-time position in addition to their gig work.
According to the latest projections, there will be over 63 million gig workers in the US economy by 2023.
More than 38% of the current US workforce participates in the gig economy based on 2023 projections.
In 2023, about 40% of gig workers reported working one (and only one) gig in the past 12 months, slightly down from 45% in 2020; 28% reported working two gigs and 32% reported three or more gigs.
Flexibility and supplemental income are the most common reasons for taking up gig work.
In 2022, 60 million Americans — 39% of the total populace — engaged in some form of freelance work.

Work-Life Balance and Career Growth

Roughly 60% of global workers say they have an excellent work-life balance.
77% of workers have noted they have experienced burnout at their current job.
48% of Americans consider themselves workaholics.
66% of American workers lack work-life balance.
77% of full-time US employees experienced burnout at their current job.

Challenges Faced by Gig Economy Workers

28% of paused freelancers are either on leave or unemployed, and 51% still have other sources of work.
Gig workers don’t get any job security. They only work on a project-to-project basis.
16.4% of the American workforce is made up of gig workers.

Job Insecurity and Lack of Benefits

Gig workers don’t get the same benefits as full or even part-time employees do.
24% of gig workers reported having no health insurance, with 58% of those citing prohibitive cost as an obstacle.
It’s past time in 2024 to strengthen the income, benefits, and safety net for workers in America’s gig economy.

Financial Instability and Savings

19% of gig workers reported going hungry because they couldn’t afford food, and 30% used Supplementary Nutritional Assistance Program (SNAP) benefits, twice the rate of regular workers.
45% of gig workers reported they could not handle a $400 emergency expense without borrowing money.
1099-MISC contractors in the US made on average $6,810 per month (vs. $6,340 among W-2 employees).
Lack of job security is the biggest concern for 30% of full-time independent workers. The most common worry among independent workers is income instability. Freelance economy statistics show that this is the biggest worry for 47%, down from 56% in 2018. 28% of gig workers cite retirement planning as the biggest challenge while 26% are worried about setting boundaries at work.

The Future of the Gig Economy

The future of the gig economy is poised to be a transformative force in the global job market. As the number of freelancers and independent contractors continues to rise, gig economy platforms are becoming the primary or secondary jobs for many gig workers. These platforms are not only reshaping the traditional job market but also offering new opportunities for full-time independent workers.

The gig economy size is expanding, with professional and business services seeing a significant increase in freelance work. Gig workers report diverse experiences, with some enjoying the flexibility and work-life balance it offers, while others grapple with the challenges of financial instability and lack of traditional benefits.

However, the latest gig economy statistics suggest a positive trend. Many gig workers earn a substantial income, and the number of full-time gig workers is on the rise. This shift towards more flexible work arrangements is expected to continue, driven by workers’ desire for autonomy and the increasing digitization of the global gig economy.

Long-Term Gig Economy Trends

The long-term trends in the gig economy are indicative of a paradigm shift in how work is conceptualized, pursued, and executed across various industries. This movement is not just reshaping the job market but also redefining the essence of employment, work-life balance, and professional development. Below are some key points that capture the essence and implications of these trends:

Expansion of Gig Economy Platforms: There is a noticeable growth in the number and variety of gig economy platforms, catering to a broad spectrum of skills and services. These platforms are not only increasing in their user base but are also becoming more specialized, offering niche opportunities that align closely with the diverse skills of freelancers.
Shift Towards Independent Work: More individuals are leaning towards freelance and independent work as primary or secondary sources of income. This shift is largely driven by the allure of flexibility, autonomy, and the potential for higher earnings compared to traditional employment.
Work-Life Balance and Autonomy: A significant driver behind the gig economy’s growth is the desire for better work-life balance and autonomy over one’s work schedule and projects. Freelancers often cite the ability to choose projects that interest them and the flexibility to work from anywhere as key benefits.
Challenges of Gig Work: Despite its growth, the gig economy brings challenges such as job insecurity, unpredictable income, and the absence of traditional employment benefits like healthcare, retirement plans, and paid leave. These issues pose significant risks to the well-being and financial stability of gig workers.
Regulatory and Policy Evolution: There’s an ongoing evolution in regulations and policies to better accommodate the unique nature of gig work. This includes discussions and initiatives around providing gig workers with more security, benefits, and rights akin to those enjoyed by traditional employees.
Increasing Professionalization: The gig economy is witnessing a trend towards increasing professionalization, with more freelancers seeking to establish their work as legitimate and sustainable businesses. This includes adopting more formal business practices, continuous skill development, and leveraging professional networks.
Impact on Traditional Industries: Traditional job markets and industries are experiencing disruption due to the gig economy, with companies increasingly relying on freelance and contract workers for various tasks. This shift necessitates adaptations in how companies strategize their workforce management and development.
Technological Advancements: Advancements in technology play a crucial role in facilitating the gig economy’s growth. This includes the development of sophisticated platform algorithms, secure payment systems, and tools that support remote work, collaboration, and project management.
Globalization of Workforce: The gig economy is contributing to the globalization of the workforce, allowing freelancers to offer their services across borders. This opens up a world of opportunities for both workers and employers but also introduces complexities related to cross-border payments, taxes, and regulations.
Sustainability and Ethical Considerations: There is an increasing focus on the sustainability and ethical implications of gig work, including concerns about fair wages, worker exploitation, and the environmental impact of gig-related activities.

These trends underline the dynamic and evolving nature of the gig economy, highlighting both its potential and the challenges that need to be navigated to ensure its sustainable growth and positive impact on the broader job market.

Binance Founder Should Get 3 Years in Prison, Prosecutors Say

Wed, 24 Apr 2024 18:38:01 +0000

Lawyers for Changpeng Zhao, the founder of the crypto exchange Binance, countered that he should receive no prison time.

Potential TikTok Ban Concerns Digital Entrepreneurs

Wed, 24 Apr 2024 17:30:34 +0000

The proposed ban on TikTok has many business owners worried.

The idea of a ban comes from concerns about user privacy and national security. But it may also have serious implications for many small businesses that use the platform for marketing and/or revenue generation.

For example, Atlanta-based entrepreneurs Lynda and Paul Truong, who own skincare company Love & Pebble, said at a recent event “I mean, 90% of our sales are on TikTok Shop… It would be catastrophic.”

Brian Firebaugh is another entrepreneur who relies heavily on Tiktok. The Texas rancher uses TikTok to sell cattle and beef. He recently said, “TikTok truly has been the platform for us in order to not only start our business as a first-generation rancher, but also to grow and sustain us.”

For now, the proposal is still in a state of flux. The current bill, which may be voted on by the Senate shortly but still has yet to be signed, would ban the platform unless the parent company ByteDance, which is based in China, sells TikTok. Under the current terms, ByteDance has a year to sell before the ban would take effect. So currently, entrepreneurs are still free to use the platform. And many parties are still arguing against the bill proposal due to free speech issues.

However, the possibility of a full ban remains. And aside from contacting representatives and speaking out, there isn’t much that these business owners can do to prevent it.

What business owners do have control over is their ability to diversify their sales and marketing channels. Of course, this isn’t likely to be easy for those who have already found success on TikTok. But the importance of diversification is important for businesses regardless of the platform or specific situation. If you rely on one third party platform for all of your marketing or sales, then a simple outage or algorithm change can have huge implications for your business. Since you don’t control these platforms, these changes can make you feel powerless.

However, if you spread out your efforts and dedicate time to resources that you actually own, like a website and email list, then changes to one outlet may not be so painful. They may still make an impact, but you’ll gain some power back to weather these storms in the future.

Image: Depositphotos

This article, "Potential TikTok Ban Concerns Digital Entrepreneurs" was first published on Small Business Trends

Bob Chitrathorn, CFO And Vice President With Simplified Wealth Management, Discusses Strategies To Employ To Help Clients Define Financial Priorities And Objectives

Wed, 24 Apr 2024 14:42:15 +0000

To empower individuals with the tools they need to preserve their financial future, Bob Chitrathorn, a valued professional in personalized financial planning services, today announced a competitive approach designed to assist clients in defining their financial priorities and objectives with greater clarity and precision.

With years of experience in navigating the complexities of the financial landscape, Bob has developed a comprehensive suite of strategies that are tailored to meet the unique needs of each client. This bespoke approach ensures that individuals are not only able to identify their financial goals but are also equipped with the knowledge and resources to pursue them.

The mission is to demystify the financial planning process for the clients. Understanding that each individual’s financial situation is unique, and there’s no one-size-fits-all solution. That’s why he’s introduced these strategies to help clients articulate and prioritize their financial goals, fostering a path toward financial stability and independence.

Key Features of Approach Include:

Personalized Financial Assessments: Through one-on-one consultations, the team conducts in-depth analyses of clients’ current financial situations, identifying opportunities for growth and areas requiring attention.
Goal-setting Workshops: Hosting interactive workshops aimed at helping clients define their short-, medium-, and long-term financial objectives, ensuring they align with people’s overall life plans.
Customized Financial Plans: Leveraging expertise, and crafting personalized financial plans that outline clear steps clients can take to pursue their defined objectives, taking into consideration risk tolerance and time horizons.
Ongoing Support and Monitoring: Recognizing that financial planning is an ongoing process, provide continuous support and periodic reviews of financial plans to adapt to any changes in the clients’ lives or financial circumstances.

Bob Chitrathorn shared: “I am always excited to help new clients build a specialized plan that is tailored to their needs and wants.”

Bob Chitrathorn is committed to enhancing financial literacy and providing clients with the skills needed to make informed decisions about their financial futures. The newly unveiled strategies mark a significant milestone in his dedication to client success, reaffirming his position as a valued partner in personal financial planning.

About Bob Chitrathorn

Robert Chitrathorn (or Bob for short) came from humble beginnings. Born to parents Puttachart and Sakul Chitrathorn, Bob was raised in a mobile home park in Colton, CA. His parents migrated to Michigan from Bangkok, Thailand in 1974, before settling in Southern California. As a child, Bob didn’t realize how good others had it until he ventured out of the ghetto and went over to friends’ birthday parties. There he’d witness the luxuries of living the American dream and of the possibilities that lay ahead.

To the Chitrathorns, life in America was a gift and they were proud owners of property in America. They worked hard to put food on the table and to put Bob and his younger sister, Crystal, through school. Bob ate sandwiches with nothing but cheese on them, but he was blessed nonetheless. He learned that perspective made all the difference in life.

In his mother’s words, “education is money in the bank.” She teaches nurses to this day, but she and Sakul, a factory worker, sacrificed to make a better life for Bob and Crystal. They paid for both kids to go through private high school and then helped pay for college.

Their dedication and sacrifice didn’t go to waste. Bob received a full-ride scholarship for his first year at La Sierra University, before transferring to Cal State San Bernardino(CSUSB). He received his B.S. in Finance, as well as a B.S. in Real Estate while minoring in business administration. Despite the rigorous course load, Bob graduated magna cum laude and was named part of the Golden Key Honor Society.

In 2004, Bob became a financial advisor, which was an opportunity to make a good living, while helping others make informed decisions for their own financial lives. He had a short stint at H&R Block and also considered real estate, but he found his passion in personal finance. While Bob was attending CSUSB, his parents were working with an agent at New York Life. Bob always sat in on their meetings. He found that by listening to his parents’ goals and conveying the pros and cons of their decisions, they would listen to him more often than their own advisor.

When Bob became an advisor, it was a no-brainer that Puttachart and Sakul would work with their son, who always listened to their needs. With over 20 years of industry experience, he now has many clients beyond his parents to guide and influence. Bob recently co-founded Simplified Wealth Management in 2021 to help grow a new brand and to help shape the next generation of financial advisors.

In 2016, Bob contributed a chapter to best-selling author and esteemed motivational speaker, Brian Tracy’s book. The book, “Success Manifesto: The World’s Leading Entrepreneurs & Professionals Reveal Their Secrets to Mastering Health, Wealth & Lifestyle,” was an opportunity for Bob to share his love for planning and for his clients.

He holds the Series 6, Series 7, Series 63 registrations with LPL Financial, and Series 65 registration with Mariner Independent Advisor Network, and he also has life, health, and long-term care insurance licenses. Bob has been married to the love of his life, Brittany, for five years. They live in their Riverside, CA home with their rescue dog, Mazy, a pool, putting green, and a Pittsburgh Steelers-themed bar that’s perfect for Sunday Night Football.

If you’re looking for Bob at 6:30 or 7 pm on a weeknight, more often than not, he’s prepping for a case or making phone calls still. His parents’ work habits weren’t lost on him and he’s usually the one at the end of the night setting the alarm and turning off the lights.

Learn more:

www.planwithbob.com | bob@simplifiedwealth.com |

https://www.youtube.com/watch?v=w009FbZtgKY

CA Insurance License # 0E63308. Bob Chitrathorn is a registered representative with, and Securities and Retirement Plan Consulting Program advisory services are offered through LPL Financial, a registered investment advisor, member FINRA/SIPC. Other advisory services offered through Mariner Independent Advisor Network. Mariner Independent Advisor Network, Wealth Planning by Bob Chitrathorn, and Simplified Wealth Management are separate entities from LPL Financial.

This material was prepared for Bob Chitrathorn use.

This material was created to provide accurate and reliable information on the subjects covered but should not be regarded as a complete analysis of these subjects. It is not intended to provide specific legal, tax or other professional advice. The services of an appropriate professional should be sought regarding your individual situation.

Karate Kids in La Verne Reach Out to Help Local Businesses

Wed, 24 Apr 2024 14:41:39 +0000

La Verne, CA – The Leadership Team at Chozen Martial Arts Academy, a special group within their Kids Karate program, recently embarked on a heartwarming project to support local businesses in their community. These young karate enthusiasts, who are trained not only in advanced martial arts techniques but also in the skills to become the next generation of leaders, crafted beautifully decorated Easter egg greeting cards and sought out local businesses willing to display them.

Inside each card, the kids included instructions for recipients to redeem a special gift from Chozen Martial Arts Academy. In exchange, the academy pledged to promote the participating businesses on social media and through email campaigns. This mutually beneficial initiative allowed the children to enhance their confidence, focus, and communication skills while simultaneously assisting local establishments during these challenging times.

The Easter egg cards found their way to Butter Bakery & Cafe, Fuel Good Glendora, Red Devil Pizza, Daily Donuts, Lucky Feet Shoes, Roberta’s Village Inn, and America’s Best Contacts & Eyeglasses. Each of these businesses enthusiastically hosted the cards, recognizing the value of supporting young talent and fostering a strong sense of community.

Fuel Good Glendora, one of the businesses hosting the Easter egg cards, expressed their delight in being part of this endeavor. Owner Meghan Brown Anderson said in a Facebook post, “This was such a pleasure!!” The project not only brought joy to the kids but also fostered a sense of pride among the local businesses involved.

Zion Hernandez, Leadership Team Instructor at Chozen Martial Arts Academy, explains their vision for the program, stating, “Leadership Team is our way of shaping the next generation of community leaders. So we give our kids opportunities to challenge themselves both inside and outside our school.”

The Easter egg hunt project perfectly aligned with the academy’s philosophy of empowering its students to make a positive impact on the community. By promoting local businesses through social media and email, Chozen Martial Arts Academy reciprocated the support received from the participating establishments.

To learn more about Chozen Martial Arts Academy’s Leadership Team and their Egg Hunt Project, visit https://www.chozenmaa.com/egghunt2024/.

Midas secures $45 million for fintech development

Wed, 24 Apr 2024 14:21:00 +0000

Turkish fintech startup Midas, has recently secured $45 million during a series A funding round led by Canadian investment firm, Portage. Midas is renowned for their innovative online investment platform. Having currently two million retail investors based primarily in Turkey, Midas is seeking to simplify and democratize investing.

Resolution of the funding round not only involves Portage but also several prominent international investors who appreciate the potential and value of Midas. The collected funds will fulfill a significant role in helping Midas speed up the development of its platform, aiming at improving user experience and diversifying offerings.

Midas is set at the forefront of Turkey’s fintech landscape by leveraging beneficial tools such as low trading fees and an abundance of investment information, encouraging financial independence among its users. The startup offers a unique opportunity to invest in both local Turkish and American stocks, providing exposure to global financial markets.

The founder and CEO, Egem Eraslan, launched Midas around three years ago with a user-driven experience and self-built platform on a less than $500,000 budget.

Midas raises funds to expand fintech platform

Eraslan identified an opportunity to educate the masses about the capital market’s value and potential, building a user-friendly product despite significant financial constraints.

By managing their own clearing and custody, Midas differentiates itself from American counterparts like Robinhood, ensuring client security and efficient transaction processing. The recent funding allows Midas to aim for product expansion to include cryptocurrency trading, mutual funds, and savings account options. They also express interest at extending their services to the Middle Eastern and North African regions.

Backing Midas in their recent funding round were investors like International Finance Corporation, Spark Capital, Earlybird Digital East Fund, and Revo Capital. Cem Sertoglu from Earlybird Digital East Fund commended Midas for its successful penetration of the domestic market in the 11th largest economy worldwide. Concurrently, Paul Desmarais III of Portage highlighted Midas’s pivotal role in transforming Turkey’s financial landscape.

The post Midas secures $45 million for fintech development appeared first on SmallBizTechnology.

Lemonade’s struggles raise investment potential in SoFi Technologies

Wed, 24 Apr 2024 14:19:00 +0000

Lemonade (NYSE: LMND) is currently facing a 91% decline from its all-time high, leaving investors to ponder if SoFi Technologies (NASDAQ: SOFI) might be a more suitable investment. Therefore, a comprehensive evaluation of both companies is essential to determine the most favourable investment.

Lemonade, a financial tech innovation stock, despite its current situation, could experience significant growth in the future due to its innovative insurance model and aggressive expansion plans. However, it must compete with other insurance companies that also capitalise on technology and data. Despite substantial investments in AI and machine learning, Lemonade’s gross loss remains over 75%, which is a cause for concern.

Founded in 2015, Lemonade utilises artificial intelligence to transform the customer experience in the insurance sector. This innovative approach led to a 67% revenue increase in 2023, alongside acquiring 200,000 new clients. Their disruptive technology has revolutionised the traditional insurance industry, paving the way for other tech-startups.

SoFi’s investment potential amid Lemonade’s decline

However, their financial performance has yet to catch up with their technological advancements.

On the other hand, SoFi Technologies recorded a 35% revenue rise and a 44% customer growth in its most recent quarterly results, catering to a more affluent, younger demographic. Their expansion into personal loans and investment products has allowed them to diversify their services and cater to a broader audience’s financial needs. Particularly, SoFi’s loan offerings significantly contributed to their increased revenues.

SoFi’s impressive growth throughout 2023 owes much to their progressive strategies, top-notch customer service, and their unceasing dedication to satisfying their customer’s evolving financial needs. Recently, SoFi bounced back from its losses and transitioned to profits in the last quarter, with management projecting a substantial increase in its EPS from $0.02 in the previous year’s Q4 to between $0.55 to $0.80 in 2026.

Despite Lemonade’s stock trading at a lower price-to-sales ratio, indicating its potential growth if profitability improves, it wasn’t included in the Motley Fool Stock Advisor analyst team’s top investment picks. The team advises investors instead to pay attention to the 10 stocks that made the cut for high return prospects.

The post Lemonade’s struggles raise investment potential in SoFi Technologies appeared first on SmallBizTechnology.

Successful start-up founders' advice for aspiring entrepreneurs: 'Embrace what makes you different'

Wed, 24 Apr 2024 13:00:00 +0000

Successful start-up founders offer advice for aspiring entrepreneurs.

Hot Take: I Can Tell When You Use a Canva Template

Wed, 24 Apr 2024 11:24:08 +0000

Canva templates are a great starting point for graphic design, but they're often overused, resulting in identical designs. Understanding design principles like hierarchy and alignment is crucial for making your designs stand out. Here are simple tips to customize Canva templates.

16 Vote(s)

Spotlight: How Two Brothers Built a Successful Company Around Pillows with Twilla

Wed, 24 Apr 2024 11:00:47 +0000

You don’t need a super technical or complicated idea to start a successful business. For example, the founders of Twilla started with just a sewing machine and a desire to create more comfortable pillows. It doesn’t hurt to have an entrepreneurial sibling and a background in product design, either. Learn more about Twilla below in this week’s Small Business Spotlight.

What the Business Does

Sells unique pillows.

Founders Mark and Peter Rane told Small Business Trends, “We sell adjustable sleeping pillows that are available in Queen, King, and Body sizes.”

Business Niche

Offering a simple and easy-to-use product.

Rane says, “There are other adjustable pillows on the market, but none of them adjust so quickly and cleanly or offer the versatility that we do.”

How the Business Got Started

To create a product for their own use.

Rane explains, “The idea for Twilla started several years ago when we were looking for a pillow for ourselves. It seemed like there were a lot of good pillows on the market, but when we tried them out, we were constantly disappointed. Being designers, we just naturally started evaluating all of the pillows and then making our own prototypes. We spent a lot of time behind the sewing machine before we thought about turning it into a brand.”

Biggest Win

Receiving endorsements from physical therapists and doctors.

Rane adds, “It was huge because we didn’t pay them to talk about our brand. We gave them a sample so that they could try it out and hopefully give us feedback based on their experience and expertise. We had no expectations or pressure on them, but they came back with resounding positive feedback.”

Biggest Risk

Launching on Kickstarter.

Rane says, “We had always thought that KS might be a good avenue for us, but when we were finally ready to launch, we had very little time to put everything together if we were going to hit the holiday season. We had no idea what we were getting ourselves into, but we rallied and pulled off a great launch. We put it all out there and it could have flopped, but we ended up having a very successful campaign.”

Lesson Learned

Be ready to learn as you go.

Rane explains, “Instead of ignoring an aspect of the business, or saying “we’re not good at [xyz],” we now say something closer to “we’re excited to learn about that part of the business and become experts.”

How They’d Spend an Extra $100,000

Spreading the word about their initial product.

Rane says, “Being Product Designers, we would love to use the money to invest in a new idea that we’ve been working on. But, the best thing we could do for the business right now would be to invest in a nationwide advertising campaign to spread the word about our pillow. Being a new brand, we know how important it is to get eyes on our pillow.”

Hidden Talent

Sewing potential new products.

Rane adds, “We really enjoy sewing! We can prototype so quickly and it’s always fun to come up with new ideas. Our company is still very small, so we can be flexible and try things as we think of them.”

Favorite Quote

“You can’t use up creativity, the more you use the more you have.” – Maya Angelou

*****

Image: Twilla, Mark and Peter Rane

This article, "Spotlight: How Two Brothers Built a Successful Company Around Pillows with Twilla" was first published on Small Business Trends

13 Best Marketing Automation Tools To Build Your Brand While You Sleep

Wed, 24 Apr 2024 10:57:44 +0000

Marketing automation lets businesses automate repetitive tasks for maximum efficiency to target the right customer at the right time.

16 Vote(s)

How to Enhance Your Photo Editing Skills Like a Pro

Wed, 24 Apr 2024 09:35:24 +0000

Boost your digital marketing with enhanced photo editing skills! Learn to manipulate images for better quality and aesthetics, from basic adjustments to complex edits like object removal or background editing. Mastering photo editing elevates branding, enhances product presentation in e-commerce, a

16 Vote(s)

What is Conversational Marketing? Understanding Strategies, Benefits and Best Practices

Wed, 24 Apr 2024 09:14:31 +0000

Let's delve into what conversational marketing is, strategies, benefits and some examples of conversational marketing.

16 Vote(s)

Top 5 Leadership Qualities of Successful Vice Presidents

Wed, 24 Apr 2024 08:20:52 +0000

What makes a Vice President successful? Explore key modern challenges and top must-have VP skills in this detailed article.

16 Vote(s)

How small businesses can help combat child sexual exploitation

Wed, 24 Apr 2024 01:00:00 +0000

Child sexual exploitation (CSE) is a complex and widespread crime that is showing no signs of abating. The Australian Childhood Maltreatment Study from April 2023 found more than one in four Australians have experienced one or more types of child sexual abuse.

You might be wondering: how does this relate to my small business? The reality is that every small business, including those whose business is conducted online, could play a role in fighting CSE.

Through technological advances, perpetrators are finding more ways to harm and exploit our children through AI, live-streaming, sextortion and a variety of other means resulting in devastating effects on the victims. For instance, the same Australian Childhood Maltreatment study showed that adults who have experienced child maltreatment are 2.8 times more likely to have a mental health disorder.

We implore businesses to start by learning about the issue and understanding where your systems, processes and procedures can play a role. It takes a whole of community response to break the cycle and we all have a part to play.

Spread awareness of this growing problem within your business

Awareness is the first line of defence. Our society can’t confront anything we don’t know or don’t understand. With more information comes greater prevention and protection, and knowledge on what steps to take if something would go wrong.

Spread awareness throughout your business and across your wider stakeholders and partners about the prevalence of this heinous issue, especially in areas that are more vulnerable to this crime like financial services, risk and compliance, procurement, and customer service teams.

It can help to think about this issue from the perspective that unfortunately, statistically, there could be many people in your workforce who have lived experience of child abuse. There may also be many parents or carers who would want to be educated about this issue and better equipped to spread the message further. According to the Australian Centre to Counter Child Exploitation, only 52 per cent of parents and carers talk to their children about online safety. Prevention is key to combatting this crime.

To further your understanding of this issue, you can tap into a multitude of online resources from experts such as the National Office for Child Safety, the eSafety Commissioner and the AFP’s Think U Know program.

Your impact could reach beyond reporting requirements

Look at your business operations that may be affected by this crime, and understand reporting requirements for each area of your business. Some businesses have mandatory reporting requirements, for instance under the AML/CTF Act. For those entities, resources like AUSTRAC’s Financial Crime Guide Sexual Exploitation Of Children For Financial Gain are very useful.

Even if your business doesn’t have mandatory reporting requirements, or these are already well covered, it’s still essential that your organisation has policies and procedures in place should an incident occur. Without these, there is uncertainty about how to address risks connected with CSE.

Establish guidelines for online communication and social media usage, especially if the business has an online presence. Educate employees about the risks of online interactions to children’s safety, and how to report any concerning behaviour.

Create an open dialogue about the issue

As hard as it is, we must confront this issue and have conversations with each other and children about how to prevent and stop this serious crime. We need to open the dialogue across society, small businesses included. With more information comes greater prevention and protection, and knowledge on the steps to take if something were to go wrong.

Once we have awareness, a collaborative and networked approach is essential, within and across financial institutions, and across sectors. If you’re still uncertain, ICMEC Australia can provide guidance, resources and connections to expertise.

The post How small businesses can help combat child sexual exploitation appeared first on Inside Small Business.

Spatialedge secures ZAR60 million for expansion

Wed, 24 Apr 2024 00:35:00 +0000

South African AI and data startup, Spatialedge, has successfully garnered ZAR60 million (US$3.1 million) in a funding round. The initiative was led by the renowned Hlayisani Capital.

Established in 2017 and based in Stellenbosch, Spatialedge’s primary objective is to empower businesses through deploying machine learning capabilities and deciphering big data. They present an array of services such as data processing, model development, and algorithm design, aiming at providing client-centric solutions.

Despite operating in a highly competitive industry, Spatialedge has managed an impressive financial growth, already grossing revenues exceeding ZAR300 million or US$15.7 million.

Spatialedge’s funding boost for expansion

This sharp increase in profits is attributed to efficient operational strategies implanted by the dedicated management team.

The raised ZAR60 million funds will be concentrated on expanding the company’s research and development, thus enhancing the variety and sophistication of their product offerings. The influx of this substantial sum is expected to give the company an edge and help tap into yet unexplored avenues.

CEO Retief Gerber expressed his enthusiasm about the upcoming funding, emphasizing that it would not only fast-track the distribution of their solutions to a larger market but also surge up the business’s scalability and efficiency. He additionally showered gratitude on their investors for believing in Spatialedge’s vision and projected that this financial boost would lead them to set new benchmarks in the mission to deliver superior products and services.

Tom, an expert in the African tech startup ecosystem, closely monitors new businesses and fundraising events, providing constructive feedback through his insightful articles. With deep understanding of market trends and an eye for critique, he plays a crucial role in influencing discussions among investors, executives and regulators within the rapidly evolving technological landscape.

The post Spatialedge secures ZAR60 million for expansion appeared first on SmallBizTechnology.

BMW boosts ties with South Korean suppliers

Wed, 24 Apr 2024 00:34:00 +0000

BMW has committed to strengthen its ties with South Korean suppliers as an integral part of its global product development strategy. The German automobile behemoth is planning a significant $4.7 billion investment in components procurement from these suppliers by 2023. This move clearly reflects BMW’s focus on Asia as a critical location for sourcing vehicle materials.

The company’s recent inauguration of a Research and Development (R&D) centre in South Korea underscores its dedication to encouraging local auto startups.

Strengthening BMW’s Korean supplier relationships

The R&D centre showcases BMW’s bid to facilitate technological progress in the automotive sector, particularly in emerging markets.

Jochen Goller, a key figure in BMW’s administration, highlighted the company’s dedication to Korea’s Electric Vehicle (EV) market during the R&D centre’s launch. He underlined the facility’s crucial role in promoting sustainable mobility solutions, which are gradually driving South Korea’s shift towards electric vehicles.

BMW’s integration of domestic car GPS technology in its vehicles has proven a successful strategy, securing BMW’s providential position in the South Korean automotive industry. BMW remains a foremost foreign car company in South Korea, outperforming competitors such as Mercedes-Benz.

The newly established R&D centre primarily aims at spurring technology advancements and nurturing relationships with startups. It aspires to enhance the nation’s automotive ecosystem by extending valuable resources and support, leading to significant automotive technological and innovation breakthroughs.

BMW’s growing influence in South Korea promises an increase in investment and possible collaborations, which could solidify the nation’s status in the global market and herald an unparalleled era of consistent innovation and progress for the German auto brand, Korean automotive startups, and promising clientele.

The post BMW boosts ties with South Korean suppliers appeared first on SmallBizTechnology.

Majority of Australians would support ban on disposable coffee cups

Wed, 24 Apr 2024 00:00:00 +0000

A majority of Australians will support a ban of disposable coffee cups and sachets – but not of bubble wrap or cling film – according to a recent survey.

Market research company YouGov found that 61 per cent of Australians will back legislation to ban disposable cups while 57 per cent said they are in favour of banning coffee machine capsules and condiment sachets.

Moreover, 56 per cent are also open to banning plastic wrappers for food items and cotton buds made from plastic parts.

However, only 48 per cent said they will support a ban of bubble wrap and 44 per cent are okay with banning cling film.

Meanwhile, YouGov also found that 71 per cent of Australians carry reusable shopping bags while 53 per cent reuse takeaway containers for storage. Around 51 per cent carry a reusable bottle or cup.

More than half of women avoid plastic cutlery and plastic straws, and reuse plastic bottles for future use, with only 40 per cent of men practising each habit.

Australian retailers have already begun moving away from single-use plastics, guided by state and territory governments which have introduced various regulations to address the issue, to align with next year’s national waste and packaging targets.

This story first appeared on our sister publication Inside Retail

The post <strong>Majority of Australians would support ban on disposable coffee cups</strong> appeared first on Inside Small Business.

FWO conduct surprise inspections of Yarra Valley and Mornington Peninsula farms

Tue, 23 Apr 2024 23:30:00 +0000

The Fair Work Ombudsman has conducted surprise inspections of agriculture businesses in the regions of Mornington Peninsula and the Yarra Valley to check if workers are getting the right pay.

Fair Work Inspectors have visited about 20 agriculture businesses, such as farms, vineyards and labour hire operators, which were chosen based on reports of possible underpayments committed against their workers or that they were employing visa holders who are often vulnerable to exploitation due to a lack of knowledge of workplace laws or an unwillingness to speak up.

Inspectors have been on alert for low rates of pay that breach the Horticulture, Pastoral or the Wine Industry Award (where applicable), including pay relating to piece rates; unauthorised deductions from wages; potential non-payment of overtime and inadequate breaks; payslip and record-keeping breaches; and other potential violations.

Acting Fair Work Ombudsman Michael Campbell said that continuing to boost compliance in the agriculture sector employers remained a priority for the agency.

“Where our intelligence says there is a high risk of non-compliance with workplace laws, we proactively conduct audits to ensure workers are receiving their lawful entitlements,” Campbell said. “We have been working constructively with agriculture employers and employees in the Mornington Peninsula and the Yarra Valley regions to check compliance rates. This includes assisting employers understand their legal responsibilities, such as proper record-keeping – the bedrock of compliance – and the minimum wage guarantee for pieceworkers.”

“Where we uncover any non-compliance from these inspections, we will ensure workers receive the entitlements owed to them” Campbell added. This can include taking enforcement action where appropriate. The agriculture sector commonly employs vulnerable workers such as backpackers and other migrants, who may have limited English skills, be unaware of their rights, or be unwilling to speak up. Visa holders should remember they have the same workplace rights as all other workers.”

The inspections are part of the FWO’s Agriculture Strategy, which began in December 2021 and has targeted more than 450 businesses in 15 ‘hot spot’ regions of Australia where there are identified high risks of non-compliance.

Investigations continue and results will be published at a later date.

The post FWO conduct surprise inspections of Yarra Valley and Mornington Peninsula farms appeared first on Inside Small Business.

SMEs anticipating a decrease in turnover by 2025

Tue, 23 Apr 2024 23:00:00 +0000

New research from RFI Global, commissioned by online small-business lender, Prospa, reveals that 46 per cent of Australia’s SMEs anticipate a decrease in turnover by the end of the year due to economic pressures and 54 per cent have said they are likely to need to invest further into their business to generate future cashflow.

Economic and supply chain conditions remain the biggest concern for businesses, with 59 per cent experiencing supply chain cost increases due to current economic conditions. Labour pressures are also a major concern for businesses, with 53 per cent trying to address rising labour costs and 42 per cent struggling to find replacements if any current staff were to leave the business.

While there is an overall downward trend in sentiment among SMEs brought about by these concerns, short-term business confidence continues to improve, reaching a 12-month high in December 2023 with 37 per cent expressing high confidence in their five-year outlook.

“These findings demonstrate that while businesses continue to do it tough, Australia’s SME community is yet again proving its resilience by maintaining high confidence in their short-term outlook,” Prospa Chief Revenue Officer, Beau Bertoli, said. “High fuel and material costs combined with growing public frugality have disproportionately impacted the hospitality, retail and wholesale and warehousing industries. However, as inflation begins to ease and with rate cuts on the horizon for later this year, with the right funding and support, the outlook for the Australian business community remains positive.

“With small businesses becoming increasingly time- and resource-poor, it has never been more crucial to adopt simplified backend processes and automate cumbersome admin tasks,” Bertoli added. “SMEs can gain greater peace of mind and save valuable time as transactions sync automatically, allowing business owners to manage their finances from anywhere.”

The post SMEs anticipating a decrease in turnover by 2025 appeared first on Inside Small Business.

West Virginia entrepreneurs win Chamber grant, boosting local economy

Tue, 23 Apr 2024 22:41:00 +0000

Entrepreneurs Dan Avolio and Randy Spellman recently won a $10,000 prize in Harrison County Chamber of Commerce’s entrepreneurial competition, reflecting the opportunities West Virginia continues to offer startups.

The duo’s concept stood out for its innovative approach and conceivable positive impact on the local economy. Success in this competition not only granted them the prize money but also exposure to potential investors and influential local business figures.

Chamber of Commerce’s President, Samantha Smith, commended the winners for their commitment towards innovating and creating job opportunities within the county. She also mentioned the high quality of ideas generated in the competition this year, which suggests a promising future for entrepreneurship in West Virginia.

In 2020, another startup, Iconic Air, founded by Kyle Gillis and James Carnes, significantly grew, claiming a spot in West Virginia’s rapidly expanding independent business sector. Their groundbreaking work not only launched the company to new heights but also significantly contributed to West Virginia’s economic growth.

The state’s startup success stems from the supportive entrepreneurial environment, focusing on the intent and commitment of the entrepreneurs.

Boosting local economy through entrepreneurial achievements

This environment promotes entrepreneurial drive and fosters innovation through both incubation and acceleration programs.

Investment options in West Virginia are dynamic, with angel investment and venture capital aspects being predominant. The state’s various grants and incentives, coupled with technologically advanced infrastructure and access to high-quality talent, provide startups with a robust foundation to build upon.

West Virginia acknowledges successful entrepreneurs from diverse backgrounds, rejecting discrimination such as racism and sexism. The state appreciates entrepreneurs from varied backgrounds, celebrating their resilience and unique representation in the business sphere.

West Virginia’s growing entrepreneurial spirit, speed of business growth, and strong community support has made the state a hotbed for startups and independent ventures. Forward-thinking entrepreneurs continue to be drawn to the state’s nurturing environment, a testament to West Virginia’s promising economic future.

The post West Virginia entrepreneurs win Chamber grant, boosting local economy appeared first on SmallBizTechnology.

Meet the coach who help women reclaim their Mind, Heart, and Cookie®.

Tue, 23 Apr 2024 21:16:14 +0000

Women who have been abused by their partners often lose their sense of self, but one coach has made it her mission to help them find themselves again.

Nilzara Rivera, who runs the business Coach Nilzara, is an Intimate Partner Violence Recovery Coach. She holds a space for women where they can learn who they are without the influence of their abusers or anyone else, a process she describes as “reclaiming their mind, heart and cookie®.”

The 38-year-old, from Chesapeake, Virginia, in the United States, was inspired to do this work after experiencing a string of toxic relationships, which stripped away her feelings of self-worth and diminished her confidence. One day, she realized that she was the common denominator in her unhealthy, abusive relationships and ultimately decided to heal.

Nilzara said: “I help women who have experienced all different types of abuse. I help them understand their thoughts, feelings, and emotions, so they can establish healthy boundaries for themselves without the feelings of guilt or shame.”

“I want the women I work with to feel alive again. I want their dreams and aspirations to be reignited and for them to be courageous enough to execute them!”

In her work, Nilzara combines the knowledge she acquired through her Bachelor’s degree in Applied Behavioral Science with eight years of coaching experience and certifications in health, life, and anger resolution coaching. As an intuitive trauma-informed spiritual practitioner, she also uses several other methods to help her clients, including Reiki, NLP, mind-body practice, and connecting to higher self.

She has written about her own experiences of abuse in Success with Source, a spiritual business book which is due to be released on July 7. Nilzara added: “It took a long time for me to even realize the unhealthy relationships I had been in were actually abuse. It takes time for women to stop making excuses for their abusers and start healing themselves–my role is to help bring women to peace.”

To find out more, visit www.coachnilzara.com

Your Guide to Warehouse Inventory Management

Tue, 23 Apr 2024 19:00:56 +0000

Managing your warehouse inventory effectively is key to running a successful small business. It’s like the heart of your supply chain, keeping everything running smoothly. In this article, we’ll share some top tips to help small businesses with warehouse inventory management.

What is Warehouse Inventory Management?

Warehouse inventory management refers to the systematic process of overseeing and controlling the flow of goods into, within, and out of a warehouse facility.

It involves various activities, including inventory tracking, stock replenishment, order picking, packing, and shipping. The primary goal of warehouse inventory management is to ensure that the right products are available in the right quantities, at the right location, and at the right time to meet customer demand while minimizing costs and maximizing operational efficiency.

This encompasses the use of technology, such as inventory management software and barcode systems, as well as the implementation of best practices and strategies to optimize inventory levels, reduce stockouts, minimize carrying costs, and improve overall warehouse performance. Effective warehouse management can streamline processes for various businesses, from Ecommerce companies struggling with maintaining eBay inventory management to restaurants looking to maintain their bar inventory more efficiently.

Here are some reasons why warehouse inventory management is important:

Optimization of Inventory Levels: Effective warehouse inventory management ensures that the right amount of inventory is available at the right time. By optimizing inventory levels, businesses can prevent stockouts (which can lead to lost sales) and minimize excess inventory (which ties up capital and storage space).
Improved Order Fulfillment: Proper inventory management helps in fulfilling customer orders accurately and on time. By maintaining accurate inventory records and efficient picking processes, businesses can minimize order errors and improve customer satisfaction.
Cost Reduction: Efficient inventory management practices help in reducing costs associated with holding inventory. By minimizing excess inventory and optimizing storage space, businesses can reduce carrying costs, such as storage, insurance, and obsolescence expenses.
Enhanced Forecasting and Planning: Warehouse inventory data provides valuable insights for demand forecasting and strategic planning. By analyzing historical inventory data, businesses can anticipate demand fluctuations, plan production schedules, and make informed decisions about inventory replenishment.
Streamlined Operations: Effective inventory management streamlines warehouse operations by optimizing workflows, reducing unnecessary handling, and minimizing inventory movement. This leads to increased efficiency, productivity, and throughput in the warehouse.

How to Manage Warehouse Inventory

Here’s a step-by-step guide to everything you need to know to effectively manage warehouse inventory:

1. Choose the Right Warehouse Management System (WMS)

Selecting the appropriate warehouse management systems is a crucial start, as it provides the foundation for efficient inventory management. Look for warehouse management software in a system that aligns with your business needs and offers features such as real-time inventory tracking, order management, and integration capabilities with other systems.

2. Implement a Warehouse Inventory Management System (WIMS)

Implementing a WIMS allows businesses to track and manage inventory levels accurately. This warehouse management and inventory system should enable barcode scanning, inventory categorization, and real-time updates to ensure inventory accuracy and visibility throughout the warehouse.

3. Optimize Warehouse Layout

Designing an efficient warehouse layout helps maximize storage space, reduce travel time, and optimize workflow. Organize inventory strategically based on demand, with frequently picked items located closer to shipping areas for faster order fulfillment by warehouse employees.

4. Classify Inventory with Methods Like ABC Analysis

Inventory classification methods like ABC analysis are used to prioritize items based on their importance and value. Classify items into categories (A, B, C) based on criteria such as sales volume, value, or turnover rate, allowing for focused attention on high-value or fast-moving items.

5. Conduct Regular Audits and Cycle Counting

Regular audits and cycle counting, used in addition to the warehouse inventory systems software, help maintain inventory accuracy and identify discrepancies promptly. Implement a schedule for counting inventory regularly, focusing on different sections of the warehouse to ensure thorough coverage and minimize disruption to operations.

6. Leverage Technology for Enhanced Accuracy and Efficiency

Utilize technology such as barcode generators and scanners, RFID tags, and inventory management software to streamline processes, minimize manual errors, and improve inventory visibility. The best inventory app for your needs can speed up tasks like receiving, picking, and replenishment, enhancing overall efficiency.

7. Understand the Difference Between Inventory and Warehouse Management

Distinguish between retail inventory management systems (managing stock levels, tracking inventory movements) and warehouse management (optimizing physical warehouse operations). While closely related, each requires distinct strategies and systems to ensure effective management.

8. Specify the Role of the Warehouse Manager

The warehouse manager plays a critical role in overseeing inventory management processes, coordinating warehouse activities, and implementing best practices for warehouse management. Responsibilities include inventory planning, staff supervision, performance monitoring, and continuous process improvement to optimize warehouse operations and meet business objectives.

By following these steps, businesses can establish robust warehouse inventory management practices to improve efficiency, accuracy, and overall operational performance.

Trends in Gig Economy	Positive Aspects	Challenges to Address
Expansion of Platforms	- Increased variety and specialization of platforms. - Broader opportunities across different skill sets.	- Market saturation leading to competition. - Quality control and reliability of platforms.

#	Tip	Description	Key Benefits
1	Choose the Right WMS	Select a WMS that aligns with your business needs, offering real-time tracking, order management, and system integration.	Foundation for efficient inventory management, improved order management, and seamless system integration.
2	Implement a WIMS	Use a WIMS for accurate inventory tracking with barcode scanning, categorization, and real-time updates.	Enhanced inventory accuracy and visibility, leading to better stock management and reduced errors.
3	Optimize Warehouse Layout	Maximize space and efficiency by designing a warehouse layout that optimizes workflow and reduces travel time.	Improved storage utilization and faster order fulfillment, leading to increased efficiency and customer satisfaction.
4	Classify Inventory (ABC Analysis)	Prioritize items with ABC analysis based on sales volume, value, or turnover, focusing on high-value or fast-moving items.	Efficient inventory management by focusing resources on the most critical items, improving stock turnover and reducing carrying costs.
5	Conduct Regular Audits and Cycle Counting	Maintain accuracy with regular audits and cycle counting, focusing on different warehouse sections to minimize disruption.	Ensures inventory accuracy, identifies discrepancies early, and supports effective inventory control.
6	Leverage Technology	Streamline processes with technology like barcode scanners, RFID tags, and automation tools to reduce manual errors.	Reduces manual errors, improves inventory visibility, and speeds up warehouse tasks for higher efficiency.
7	Inventory vs. Warehouse Management	Distinguish between managing stock levels and tracking inventory movements (inventory management) versus optimizing physical operations (warehouse management).	Clarifies focus areas for management, ensuring both stock levels and physical warehouse operations are optimized.
8	Role of the Warehouse Manager	The warehouse manager oversees inventory processes, coordinates activities, and implements best practices for optimal operation.	Central to coordinating and improving warehouse operations, leading to more efficient and effective inventory management.

Challenges in Warehouse Inventory Management

Here are the key challenges to implementing and operating a warehouse management system:

Inventory Inaccuracy: Inaccurate inventory records due to manual errors, discrepancies between physical and recorded inventory counts, or issues with data entry can lead to stockouts, overstocking, and order fulfillment delays. Accurate records are a crucial part of any small business inventory management system.
Poor Forecasting: Inaccurate demand forecasting can result in either excess inventory or stockouts. Fluctuations in customer demand, seasonal variations, and unexpected market changes make forecasting challenging.
Inefficient Warehouse Layout: Suboptimal warehouse layout and storage configurations can lead to inefficient space utilization, longer picking times, and increased labor costs.
Lack of Visibility: Limited visibility into inventory levels, locations, and movements within the warehouse can make it difficult to track inventory accurately and respond promptly to changes in demand or supply chain disruptions.
Inventory Shrinkage and Theft: Loss of inventory due to theft, shrinkage, or damage during handling and transportation can result in financial losses and impact customer satisfaction.

However, the following tips can help you successfully utilize these tools and optimize your inventory:

Employ AS/RS: Use automated storage and retrieval systems (AS/RS) to streamline processes, improve accuracy, and increase operational efficiency.
Utilize Inventory Management Software: Implement robust warehouse and/or retail inventory management software to track inventory levels in real time, automate inventory replenishment, and generate accurate reports for better decision-making.
Implement Just-in-Time (JIT) Inventory Management: Adopt JIT inventory management practices to minimize excess inventory, reduce holding costs, and improve inventory turnover rates by replenishing inventory only when needed.
Train Staff and Establish Standard Operating Procedures (SOPs): Provide comprehensive training to warehouse staff on proper inventory management techniques, safety protocols, and use of equipment. Develop SOPs to ensure consistency and efficiency in warehouse operations.
Implement Quality Control Measures: Implement quality control measures to ensure the accuracy and integrity of inventory data. Conduct regular audits, cycle counting, and quality checks to identify and resolve discrepancies promptly.
Optimize Warehouse Layout and Storage: Design an efficient warehouse layout that optimizes space utilization, minimizes travel distances, and facilitates the smooth flow of goods. Organize inventory based on demand, with fast-moving items placed closer to shipping areas.
Enhance Supply Chain Visibility: Improve visibility into supply chain processes by implementing technologies such as track-and-trace systems and integrating with suppliers and logistics partners. This enables better coordination and response to changes in demand or supply chain disruptions.

By addressing these challenges and implementing optimization strategies, businesses can enhance their warehouse inventory management practices, improve operational efficiency, and meet customer demands more effectively.

FAQ

What is warehouse inventory management?

Warehouse inventory management is the process of overseeing and controlling the flow of goods and materials within a warehouse or distribution center. It involves various tasks such as receiving, storing, picking, packing, and shipping items efficiently while maintaining accurate records of inventory levels.

Why is warehouse inventory management important?

Effective warehouse inventory management is crucial for businesses to optimize operations, reduce costs, and meet customer demands. It ensures that the right products are available in the right quantities at the right time, minimizing stockouts, overstocking, and associated expenses. Additionally, accurate inventory data enables better decision-making and forecasting.

What are the key components of warehouse inventory management?

Key components of warehouse inventory management include inventory control systems, barcode technology, warehouse layout and organization, picking and packing processes, replenishment strategies, and inventory tracking methods. These elements work together to streamline operations and maintain accurate inventory levels.

How can I improve warehouse inventory accuracy?

To improve warehouse inventory accuracy, businesses can implement barcode scanning systems, cycle counting processes, regular audits, and employee training programs. Utilizing advanced inventory management software can also help automate tasks and provide real-time visibility into inventory levels and movements.

What are the common challenges in warehouse inventory management?

Common challenges in warehouse inventory management include inaccurate inventory data, stockouts or overstocking, inefficient picking and packing processes, poor warehouse layout, inadequate space utilization, and lack of visibility into inventory movements. Addressing these challenges requires implementing effective inventory management strategies and utilizing technology solutions.

How can I optimize warehouse space utilization?

Businesses can implement efficient storage solutions such as pallet racking systems, mezzanine floors, and vertical storage options to optimize warehouse space utilization. Additionally, organizing inventory based on demand frequency and implementing a layout that minimizes travel time can maximize available space.

What are the benefits of implementing an automated inventory management system?

Implementing an automated inventory management system offers several benefits, including improved accuracy, increased efficiency, reduced labor costs, enhanced visibility into inventory levels and movements, faster order processing times, and better decision-making capabilities. Automation can streamline warehouse operations and help businesses stay competitive in today’s fast-paced market.

Image: Envato Elements

This article, "Your Guide to Warehouse Inventory Management" was first published on Small Business Trends

PPP Loan Audits Could Impact Millions of Small Business Borrowers

Tue, 23 Apr 2024 17:44:23 +0000

There is increasing concern among the recipients of Payment Protection Program (PPP) Loans about potential audits. This follows an estimate by the Small Business Association’s (SBA) Office of Inspector General that up to one-third of PPP Loans have shown signs of potential fraud.

According to the Interim Final Rule, the SBA has authorization to audit the compliance of all PPP Loan borrowers’ eligibility and other requirements put forward at the time of a borrower’s application. Audits involve an investigation into whether a business accurately calculated its loan eligibility or not and if the funds were used in accordance with the Coronavirus Aid, Relief and Economic Security (CARES) Act.

The SBA administered PPP Loans during the COVID-19 pandemic when the CARES Act was signed into law. They were used by small businesses that were struggling financially during the pandemic. Over 11.5 million PPP Loans were granted to millions of borrowers, some equating to the maximum loan amount of $10 million.

Businesses which used at least 60% of their PPP Loan to cover payroll expenses within 8 weeks – or 24 weeks for certain loans – after receiving the PPP Loan finds, are eligible for loan forgiveness.

For businesses that were not eligible for forgiveness, the PPP Loans are now becoming due. In March this year, the SBA began to refer approximately $20 billion in delinquent PPP Loans with balances under $100,000 to the Treasury Department for collection. An additional 10,000 delinquent PPP Loans with balances above $100,000 have also been submitted.

As the legal intelligence news resource JD Supra informs, if the SBA decides to conduct an audit, notice will be sent to the lender, which will subsequently provide notice of the audit to the borrower within five business days. To help prevent any potential delays within the audit process, JD Supra suggests that PPP Loan borrowers work with their attorneys to start compiling the documentation that is likely to be requested during the audit.

This article, "PPP Loan Audits Could Impact Millions of Small Business Borrowers" was first published on Small Business Trends

Navigating Entrepreneurship: A Deep Dive into the Ventures and Personal Journeys of Sarah Hope and Heather Cox

Tue, 23 Apr 2024 15:16:38 +0000

Learning about Sarah and Heather

In the vast expanse of entrepreneurship, the stories of Sarah Hope and Heather Cox shine brightly. Beyond mere ventures, their odysseys are profound narratives of resilience, innovation, and social impact, each journey a testament to the transformative power of human ingenuity and vision. Their journeys transcend the mere pursuit of profit, embodying profound narratives of self-discovery, transformation, and impact.

A noteworthy aspect of their journeys is their shared role as mothers. Despite the demands of entrepreneurship, Sarah and Heather have embraced the profound joys and challenges of motherhood, navigating the delicate balance between nurturing their businesses and nurturing their families. Their experiences as mothers infuse their entrepreneurial endeavors with a unique perspective, driving them to build not only successful enterprises but also nurturing communities where individuals can thrive. As we delve deeper into their personal and professional journeys, we uncover not just tales of success but sagas of self-discovery, reinvention, and collective empowerment.

Sarah Hope: Illuminating the Path

Sarah Hope’s entrepreneurial odyssey is a testament to the transformative power of passion, perseverance, and purpose. From the genesis of her venture, Vertical Identity, Sarah embarked on a quest to redefine the landscape of compliance solutions, infusing her enterprise with a profound sense of integrity and innovation. Her journey was not a linear trajectory but a kaleidoscopic tapestry of triumphs, trials, and transformation.

Born out of a desire to empower businesses with comprehensive compliance solutions, Vertical Identity was more than just a company; it was a manifestation of Sarah’s ethos—a testament to her unwavering commitment to excellence and impact. However, the road to success was fraught with formidable challenges, from navigating regulatory complexities to surmounting financial hurdles. Yet, it was Sarah’s resilience and tenacity that propelled her forward, transforming obstacles into opportunities and setbacks into steppingstones for growth.

As Sarah’s entrepreneurial journey unfolded, it became a symphony of reinvention and expansion, marked by her unyielding pursuit of innovation and excellence. From diversifying Vertical Identity’s services to forging strategic partnerships, Sarah navigated the turbulent currents of business with audacious fervor, charting new horizons and defying conventional paradigms. Each pivot, each iteration, was a testament to her adaptability and vision, propelling her venture towards unprecedented heights of success.

Heather Cox: A Symphony of Inclusion

Heather Cox’s entrepreneurial saga is a poignant narrative of empathy, empowerment, and inclusivity. As the visionary force behind Certify My Company, Heather embarked on a mission to shatter barriers and champion diversity in the corporate landscape. Her journey was fueled by a fervent belief in the power of inclusivity to drive meaningful change.

From its humble beginnings, Certify My Company emerged as an opportunity for underrepresented entrepreneurs, offering not just certification services but a platform for equitable representation and recognition. Heather’s journey was imbued with a profound sense of purpose, as she tirelessly advocated for inclusivity and diversity in corporate supply chains, challenging the status quo and redefining industry standards.

However, Heather’s path was fraught with formidable obstacles, from navigating bureaucratic red tape to overcoming entrenched biases. Yet, it was her unwavering spirit that distinguished her as a true pioneer, turning adversity into advocacy and setbacks into opportunities for growth. With each challenge she faced, Heather emerged stronger and more determined, her passion for inclusivity igniting a beacon of hope for marginalized entrepreneurs everywhere.

The Intersection of Journeys: Shared Visions, Collective Impact

Though their journeys may diverge in form and focus, the narratives of Sarah Hope and Heather Cox converge at the intersection of passion, purpose, and impact. Their ventures, Vertical Identity and Certify My Company, serve as manifestations of their shared commitment to innovation, inclusivity, and impact. From forging strategic alliances to leveraging technology for social good, Sarah and Heather have blazed trails across the entrepreneurial landscape, leaving indelible imprints of inspiration and empowerment in their wake.

Moreover, in the backdrop of their remarkable journeys, lies the omnipresent discourse surrounding the role of artificial intelligence (AI) in shaping the future of entrepreneurship. As AI continues to revolutionize industries and redefine traditional paradigms, Sarah and Heather stand at the forefront of this technological frontier, harnessing AI-driven solutions to enhance operational efficiency, drive strategic decision-making, and foster sustainable growth. Their ventures serve as exemplars of AI integration, seamlessly blending human ingenuity with technological innovation to unlock new realms of possibility and potential.

Learn more about Sarah and Heather’s journey on the WBEC-West Women in Motion Podcast

The entrepreneurial odysseys of Sarah Hope and Heather Cox are not just stories of success but sagas of self-discovery, resilience, and transformation. Their journeys illuminate the boundless possibilities of vision and perseverance, inspiring aspiring entrepreneurs to chart their own paths with audacity, authenticity, and purpose. As they continue to navigate the cosmos of entrepreneurship, guided by their unwavering commitment to their visions, Sarah and Heather serve as beacons of hope and catalysts for change in an ever-evolving world. To hear the full story, lister here: https://businessradiox.com/podcast/women-in-motion/stress-management/

About Women’s Business Enterprise Council-West (WBEC-West)

WBEC-West is a regional partner of the Women’s Business Enterprise National Council (WBENC), a coalition of corporations, WBEs, and regionally focused women’s business organizations. As an affiliate organization, WBEC-West implements the certification standards of WBENC throughout Arizona, Colorado, Southern California, Utah, Wyoming, Nevada, Hawaii, and Guam. WBENC is the largest certifier of women’s business enterprises in the U.S. and a leading advocate for women business owners, leaders, and entrepreneurs. WBENC certification is nationally recognized and accepted by more than 10,000 major corporations. We also support corporations in their efforts to include WBENC Certified WBEs in their supply chain.

Dan Brooks, Founder of Xexis Private Wealth, Interviewed on the Influential Entrepreneurs Podcast Discussing The Tax Implications of Large Retirement Accounts

Tue, 23 Apr 2024 15:16:10 +0000

Dan Brooks discusses unveiling the tax firestorm of large retirement accounts.

Tax planning for large retirement accounts is crucial, especially as assets grow to significant amounts, typically ranging from half a million to two million dollars. In a recent podcast episode, Dan Brooks emphasized the importance of tax planning for individuals with retirement assets in this range. Here are key points to consider:

Tax Implications: Dan Brooks points out that individuals are often advised to maximize contributions to retirement accounts like 401ks and IRAs under the assumption of being in a lower tax bracket during retirement. However, given the uncertainty of future tax brackets, it is vital to consider the tax implications of large retirement accounts.

Threshold for Tax Planning: The threshold for when tax planning becomes critical is around half a million dollars of retirement assets. As retirement assets exceed this point, tax planning becomes increasingly important. By the time individuals reach one and a half to two million dollars in retirement assets, tax planning becomes crucial to avoid significant tax burdens in the future.

Age Consideration: Age is a significant factor in tax planning for large retirement accounts. Individuals who have accumulated substantial retirement assets at a younger age need to strategically plan to mitigate future tax liabilities.

Strategies to Minimize Tax Burden: Dan Brooks mentions that there are numerous strategies available to minimize the tax burden on large retirement accounts. These strategies can range from leveraging charitable contributions to exploring tax credits in areas like oil and gas exploration, solar energy, and historical preservation.

Dan explained: “There are 10, 11, 12 different ways that we can show people to reduce their taxes. you know, to go into more depth would take quite a while. But some of them are very simple. For example, you can leverage charities to lower taxes, and mitigate taxes.”

In conclusion, the podcast episode underscores the significance of tax planning for individuals with large retirement accounts, particularly when assets reach half a million to two million dollars. By proactively engaging in tax planning and utilizing various strategies, individuals can optimize their retirement savings and minimize tax implications, ensuring a more financially secure retirement.

Video Link: https://www.youtube.com/embed/0oG6Y0RLxQw

About Dan Brooks

Dan entered the U.S. Navy’s Nuclear Power program after high school and upon discharge, he purchased the family business which he operated for 7 years.

In 2004 he completed the Certified Financial Planner coursework and in 2005 opened a Registered Investment Advisor firm.

Dan’s specialty is comprehensive retirement planning, including income planning, tax mitigation, catastrophic health care planning, Medicare, Estate Planning, and Generational Wealth.

On a personal level, his proudest accomplishment was being a single father to his daughter, who is a Police Officer. He enjoys golf, hiking, traveling, cooking, and discovering new restaurants.

Learn More:

http://www.xexiswealth.com/

Recent news and interviews:

Dan Brooks Discusses Understanding Critical Concerns of Retirement Planning:

https://authoritypresswire.com/dan-brooks-founder-of-xexis-private-wealth-interviewed-on-the-influential-entrepreneurs-podcast-discussing-understanding-critical-concerns-of-retirement-planning/

Investment advisory services offered through Virtue Capital Management, LLC (VCM), a registered investment advisor. VCM and Xexis Private Wealth, LLC are independent of each other. For a complete description of investment risks, fees, and services, review the Virtue Capital Management firm brochure (ADV Part 2A) which is available from your Investment Advisor Representative, or by contacting Virtue Capital Management. Information provided is not intended as tax or legal advice and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional.

Brad Hancock, Associate Broker with You 1st Realty, Interviewed on the Elite Real Estate Leaders Podcast

Tue, 23 Apr 2024 15:15:50 +0000

Brad Hancock discusses the top qualities of a Realtor that a buyer or seller needs to consider when hiring an agent.

Listen to the interview on the Business Innovators Radio Network: https://businessinnovatorsradio.com/interview-with-brad-hancock-associate-broker-with-you-1st-realty/

In an evolving real estate market where buyer and seller needs are becoming increasingly complex, selecting the right Realtor is paramount to ensuring a smooth, successful transaction. Brad Hancock a leader in real estate market analysis, released a comprehensive guide identifying the crucial qualities that buyers and sellers should consider when hiring a real estate agent.

With an abundance of agents available, distinguishing between them can often seem overwhelming. However, the research and industry expertise have pinpointed several key characteristics that set exceptional Realtors apart:

Market Knowledge: Top Realtors possess an in-depth understanding of local market trends, pricing strategies, and property availability. This knowledge is critical for advising clients on the right pricing for buying or selling and for crafting strategies that meet their specific needs.

Communication Skills: The importance of clear, consistent communication cannot be overstated. Whether it’s providing timely updates, being available to answer questions, or negotiating with other parties, effective communication by a Realtor is crucial to a stress-free process.

Integrity and Transparency: Trust is the foundation of any successful client-agent relationship. High-caliber agents operate with the utmost integrity, honesty, and transparency about every aspect of the buying or selling process.

Problem-Solving Skills: Real estate transactions can come with their fair share of challenges. Agents who are creative and proactive in solving problems can navigate through potential hurdles, ensuring a smoother transaction.

Network and Connections: An extensive network of contacts within the real estate industry, including other agents, lenders, inspectors, and contractors, can be invaluable. It allows the Realtor to provide clients with recommendations and services that facilitate every stage of the process.

Brad said: “Choosing the right Realtor is one of the most important decisions in the real estate process. The guide is designed to empower consumers with knowledge and ensure they partner with an agent who truly represents their best interests.”

Video Link: https://www.youtube.com/embed/9FbJR-GM_Bo

About Brad Hancock

Nothing is more exciting to Brad than the gratifying feeling of helping people meet their real estate needs. People can count on Brad to always do what’s in their best interest. He prides himself on being honest, trustworthy, and knowledgeable in the real estate market. He knows how important it is to find their dream home or get the best offer for your property. Therefore Brad makes it his responsibility to help people achieve those goals.

Brad offers professional service, reliable information, and sensible advice regarding acquisition, selling, contract management, marketing, and financial strategy. He works with several types of clients and is personally an active investor in residential real estate in various parts of the country. Valuation and negotiation skills are used to protect his client’s interests. As a member of the South Metro Denver Realtor Association, Colorado Association of Realtors, and National Association of Realtors, Brad adheres to a code of ethics.

He first received his license in 1999 and earned his Certified Residential Specialist (CRS) in 2004 and GRI in 2021. These designations require advanced training and at least 75 transactions (he has 400+). Brad holds a degree in Finance and follows economic reports and trends closely. As a long-time Douglas/Arapahoe County resident, he has experienced the cycles of the real estate market. Blessed to have found a good wife, he is a father, brother, skier, golfer, investor, homeowner, landlord, and traveler.

Whether people are experienced investors or first-time buyers, Brad can help people find the property of their dreams. Please feel free to browse his website or let him guide every step of the way.

Learn more: https://bradhancockrealestate.com/

Truth Social tiene una ventaja frente a las plataformas de derecha que flaquean

Tue, 23 Apr 2024 14:23:18 +0000

La red social ha superado a la competencia sobre todo porque sus rivales han flaqueado. En marzo, registró 1,5 millones de visitantes únicos en Estados Unidos. La popularidad no asegura que sea rentable.

Snapchat Story Viewer: 6 Jaw-Dropping Hacks to Supercharge Your Snapchat Experience Using the Story Viewer!

Tue, 23 Apr 2024 13:32:47 +0000

Discover the ultimate guide to viewing Snapchat stories anonymously and effortlessly on our latest post!

16 Vote(s)

Unleashing Thrills: Sherri Gallagher’s Journey as an Author and Search and Rescue Handler

Tue, 23 Apr 2024 12:28:54 +0000

Sherri Gallagher is a successful author, entrepreneur, and search and rescue handler known for her thrilling novels that blend romance, detective work, and, in her latest book, a spine-chilling serial killer plot. Her latest novel, Killer Run, has captivated readers with its engaging storyline and authentic portrayal of search and rescue operations, detective work, and serial killer cases. In this article, we will delve into Sherri’s journey as an author, exploring her writing process, the unique elements that set her novels apart, her transition to self-publishing, her research process, and her techniques for maintaining pacing and suspense in thrillers. We will also discuss Sherri’s upcoming projects and the themes she hopes to convey through her future works.

The Inspiration Behind Killer Run

Gallagher’s inspiration for Killer Run came from her everyday experiences and observations. While running with one of her German Shepherds in the Chicagoland area, she stumbled upon a secluded area that seemed like a perfect spot for a body dump. This sparked her imagination and led her to create the plot for Killer Run. The novel combines elements of romance, detective work, and a serial killer plot, creating a thrilling and engaging story for readers.

Sherri’s ability to draw from everyday ideas and experiences adds authenticity and relatability to her novels. In addition to real-life experiences, Sherri’s writing process involves setting goals and maintaining discipline. She sets a goal of writing a thousand words daily and emphasizes revising and editing to ensure the story flows smoothly. Sherri also relies on beta readers to provide feedback and help her identify areas for improvement. Their insights and critiques play a crucial role in shaping the final version of her novels.

Setting Killer Run Apart

One key element that sets Sherri’s novels apart is her ability to balance darkness and light. While thrillers and serial killer plots can often be dark and intense, Sherri aims to create stories that engage readers without overwhelming them. She keeps her target audience in mind, writing for businesswomen who seek a thrilling escape from their intense daily lives. Sherri ensures that her novels leave readers feeling satisfied and uplifted by striking a balance between suspenseful storytelling and a sense of hope and optimism.

Another unique aspect of Killer Run is the incorporation of search-and-rescue German shepherds into the story. Sherri’s personal involvement in search-and-rescue operations brings authenticity to the portrayal of these dogs and their handlers. The bond between the protagonist and her search-and-rescue dog adds depth and emotional resonance to the narrative, enhancing the overall story and creating a unique reading experience.

Transition to Self-Publishing

Sherri decided to switch from traditional publishing to self-publishing, citing the autonomy and financial benefits it offers. Traditional publishing often comes with limitations and restrictions, such as a lack of control over cover art and character ownership. By self-publishing, Sherri gained the freedom to make creative decisions and maintain ownership of her characters. Additionally, self-publishing allows for a quicker release of books, giving authors more control over their publishing timeline.

However, Sherri acknowledges that self-publishing comes with its own set of challenges. Authors must take on additional responsibilities like editing, marketing, and promotion. Sherri emphasizes the importance of investing in professional editing and seeking feedback from beta readers to ensure the quality of her work. Despite the challenges, self-publishing has allowed Sherri to build a successful career as an author and maintain creative control over her books.

Research and Authenticity

Sherri conducted extensive research to portray detective work and serial killers in Killer Run accurately. She read books on serial killers to understand their motives and studied the work of New York State Police investigators to depict their roles and procedures accurately. Sherri contacted retired police officers and search and rescue professionals for insights and advice. By incorporating real-life research and experiences into her writing, Sherri ensures that her novels are authentic and believable.

Sherri also highlights the importance of authenticity in storytelling, particularly in depicting search and rescue operations. As a search and rescue handler herself, Sherri brings firsthand knowledge and experience to her novels. She strives to portray the training, techniques, and challenges faced by search and rescue teams accurately, adding depth and realism to her storytelling.

Pacing and Suspense in Thrillers

Maintaining pacing and suspense is crucial in thrillers, and Sherri employs various techniques to keep readers hooked. One technique she uses is color-coded editing, where she highlights description, dialogue, and emotion in different colors to assess the balance of these elements on the page. By analyzing the colors and ensuring a healthy balance, Sherri ensures that her novels maintain a steady pace and keep readers engaged.

Sherri also values beta readers’ feedback, who provide valuable insights into pacing and pacing issues. Their critiques help her identify areas where the story may be dragging or where more suspense is needed. By incorporating this feedback and revising accordingly, Sherri creates a compelling reading experience that keeps readers on the edge of their seats.

Sherri Gallagher’s journey as an author and search and rescue handler is a testament to her passion for storytelling and her dedication to authenticity. Through her novels, she transports readers into thrilling worlds filled with suspense, romance, and the resilience of the human spirit. With upcoming projects like Coming Home, Sherri continues to captivate readers with her unique storytelling blend and ability to create relatable characters. As readers delve into the pages of her books, they will be swept away by the thrills and emotions Sherri Gallagher’s writing brings to life.

For more information about Sherri Gallagher and “Killer Run,” visit her website at SherriGallagher.com and follow her on social media:

Facebook: https://www.facebook.com/SherriGallagherAuthor
Smashwords: https://www.smashwords.com/profile/view/LektorsHandler
X: https://twitter.com/GallagherSherri
LinkedIn: https://www.linkedin.com/in/sherrisgallagher/

Elevating Your Instagram Presence: 9 Strategies That Work Now

Tue, 23 Apr 2024 12:24:45 +0000

With over a billion active users, Instagram has transitioned from a simple photo-sharing app to a full-fledged marketing powerhouse. Achieving a robust Instagram presence is often seen as a pivotal success metric for brands, creatives, and influencers.

16 Vote(s)