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The Impact of Mobile ERP on Business Operations

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The Impact of Mobile ERP on Business Operations

The Impact of Mobile ERP on Business Operations

Today, there is probably an app for everything you need to enhance your everyday life. The reason is that mobile apps facilitate convenient access to various services. As a result, the demand for mobile services is increasing, and business operators can also take advantage of the resource by investing in mobile ERP.

Mobile ERP positively impacts business operations. It enhances productivity through real-time access to data which facilitates faster decision-making. To help you better understand how mobile ERP can help your business, here’s some insight on what you can expect by adopting this solution.

It Fosters Better Customer Relationships

It takes time to build strong relationships with customers. One of the ways you can achieve this is by availing prompt responses whenever customers reach out to you. The challenge is that sometimes you cannot avail necessary information on demand if you cannot access your office systems and data.

Mobile ERP gives you access to the office database anytime and from any location. The implication is that you can have all the details that customers are looking for at your fingertips through mobile ERP. In turn, timely response to customer requests will promote better customer relationships.

It Encourages Integration

One of the requirements for identifying the right software for your business operations is establishing the capability of integrating the systems that your employees are using currently, with the mobile solution. Integration promotes uniformity and eliminates duplication of tasks, which eventually leads to savings.

Therefore, after acquiring such a business app as mobile ERP, you can integrate it with your CRM as well as other systems within your enterprise. This helps to encourage collaboration between departments and facilitate real-time visibility across the organisation.

It Increases Staff Productivity

If you want your business to achieve more, it is paramount to consider how you can make your staff resourceful. Mobile ERP increases the productivity of your employees by giving them access to company systems, which is a necessity if you have staff who work remotely.

In addition to greater functionality on-the-go, mobile ERP solutions help to simplify processes. By creating seamless and streamlined processes that can be completed from any location, you teams can assist customers faster.

Mobile ERP will enhance the flexibility and efficiency of your workforce. If you would like to explore the capabilities of mobile ERP for your specific business needs, contact us today!

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How to use a virtual assistant

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How to use a virtual assistant

To create this guide on how to use a virtual assistant in your business, I sat down with Jane de Vos, who has developed her business from being a virtual assistant to an online business manager through to a Director of Operations.

Jane used to be my virtual assistant, and helped me build both the Joy of Business and Adventures in Products.

I often recommend bringing in a virtual assistant as one of the first steps in freeing up your time when you’re a one or two-person business trying to scale. Top tip – the other outsourcing I recommend at this stage is a bookkeeper.

In this video, Jane talks about how a virtual assistant works, and the different ways you can engage them. And we talk together about the different things you can delegate to a virtual assistant, plus how to get the best out of them.

How to use a virtual assistant with Jane de Vos

Video transcript (something else you can use a virtual assistant to organise for you)

Julia Chanteray 

Hello, everybody. This is me, Julia with Jane DeVos, who is my online business manager and does lots of brilliant things for me. And I wanted to talk to Jane today about virtual assistants, online business managers, how it all works, and how those people might be useful for you in your product journey.

So, Jane, first question, let’s start with the virtual assistants. What is a virtual assistant? And how does it all work?

Jane de Vos 

So, a virtual assistant is someone that works remotely, normally, especially in today’s world, and is normally a contractor and does admin and loves all the boring bits. So normally what business owners don’t like doing, the organisation, the admin, that’s where the virtual assistant comes in.

And normally, where they would start is having a look at, for example, diary management, sorting out customer service, if you’re selling or buying products, they could be your customer service person. So that’s probably the normal starting point.

Julia Chanteray 

Okay. And you call yourself an online business manager, what’s the difference between a VA a virtual assistant and an online business manager?

Jane de Vos 

Okay, so a VA normally works with more than one client, it’s very rare that you have a full-time VA on your team when you’re starting out unless when you expand and, of course, you would want to get one full-time. So, a VA has a mix of clients that they manage for themselves. And they work either on a pay-as-you-go basis or a retainer. And they’re very much task-focused. So, like I mentioned about diary management, setting up meetings, creating lead magnets, what we’re going to talk about later. And social media posts. Online business managers focus on projects as a whole. They can look after the teams. So, for business owners, they become the level in between. So that the CEO or the business owner doesn’t have to deal with the day-to-day stuff. It’s what happens in any office environment.

Julia Chanteray 

So would the online business manager be more like an office manager in a traditional setting, they would sort out, in a team situation, when people were going on holiday or post, it’s that sort of thing? But this would be the online version of that.

Jane de Vos 

So, a little bit, so how I work is there’ll be a VA looking like after all the office admin side of it, and then I will focus on the projects and delivering any new products. Yeah, so hiring people, restructuring teams, etc. So it’s more like the hire, project management side of things.

Julia Chanteray 

Okay. So, it would be somebody who is a bit further on in their business journey, and maybe has a team or has quite a lot of complicated things going on and different projects. Yeah. Okay, that makes sense. Yeah. Didn’t know that. Thank you. And are there different sorts of virtual assistants or different sorts of online business managers?

Jane de Vos 

Yes. So depending on a person’s background. For example, I work with a VA who specializes in social media. She loves anything to do with social media. So creating social media, scheduling it, creating really fancy leaflets and lead magnets. That’s her thing, she still calls herself a VA. So then you’ve got the other side, where you’ve got a techie VA who could be looking after your website, managing the e-commerce side of things if you’re selling products.

Julia Chanteray 

So there are different specialties definitely, and do they cost different amounts of money?

Jane de Vos 

Yes. So, I would say the average rate in the UK. I think last week, the subject virtual assistants published their annual survey, which is in the 12th year. So the average rate is £27.17. Which has gone up in the last two years, from £25. Normally starting, I would say £25 pounds at the moment for a normal, generic VA. If something more specialised it would be £35 to £40.

Julia Chanteray 

Yeah, that makes sense. And for an online business manager, I’m guessing that’s got more responsibility. So that cost would be at the higher end?

Jane de Vos 

Yeah. So normally business managers start at £55 and upwards, depending on what they have to do.

Julia Chanteray 

Yeah, that makes sense. So, let’s look at the sort of tasks that a busy business owner might want to ask a virtual assistant to do when they’re transitioning to a product-based business. And so a lot of the people that I work with are coming from a services business to start off with, they’re busy selling their time for money. And I might recommend that they get the help of a virtual assistant to free up some of their time in doing that. So that they then get some time to work on their product. And you’ve got experience with that, what might that look like in practice?

Jane de Vos 

Probably everyone’s done their zone of genius exercise with you. Yeah, it’d be a list of things that people have on their “I have to do it, but I really don’t like to do it” list, which normally is sorting out their inboxes, having standard operating procedures, and how things are done. Diary management, contacting customers, sorting out meetings, organizing events, that sort of thing a VA could do very easily without that much background.

Julia Chanteray 

So you could get stuck into those kinds of admin time-sucking things. And in your experience of working with lots of people, how much time would a small business owner, say one person in a business is coming from a services-type business, they’ve got a bit busy. How much time would it save them over a week or a month?

Jane de Vos 

I would say. For anyone starting out, I would recommend doing a retainer. So, anything between 10 to 20 hours per month, to start off with, to review all the activities and then normally get at least a day back a week, when they’re not sorting out their own admin.

Julia Chanteray 

Okay. And what sort of things do people say when you or one of your VA friends goes in and starts to do that work and take it off the shoulders of the business owner, what sort of things do people say?

Jane de Vos 

How much more time they’ve got, that they didn’t know that, sort of like rules could be set up in, you know, Gmail, or Outlook, you know, where things automatically go out of your inbox. So you haven’t got, you’re not looking at 5000 emails each day. You know, you could have labels like this is, Julia, this is for you to action, this is what you’re waiting on. And this is what your VA is sorting out, you know, so you don’t need to see it brings that calm already when you log in, that it’s all dealt with.

Julia Chanteray 

So do you think that helps people with attention management as well, if you’re going through, say their email inbox, or you go through LinkedIn for me, so I don’t have to pay attention to LinkedIn, I don’t even have to look at it. But if there’s something urgent, you can point it out.

Jane de Vos 

Exactly. Yeah. So that saves people’s brains from being used up so they can focus on the bits they need to, and enjoy. Yeah.

Julia Chanteray 

Okay, that makes sense. I like the use of the zone of genius within there as well because there’s lots of things that we’re either not very good at or we’re okay at it, but we don’t really enjoy it. And what you’re saying is that for the things that I don’t really enjoy, or I’m not very good at. There are people out there who do really like that, and they’re much better at it.

Okay, so how might a VA help make the first parts of the product ecosystem, so if somebody wanted to make a lead magnet, and/or a simple trip product.

I think there’s a bit of a myth that people talk about, that I see written on the internet along with all the other internet myths, that you can just set up a products business, particularly digital products business, and you just get a VA to do it all. And I’m not sure that’s really the case, you can just give it all to them.

Jane de Vos 

So I would say that the idea would come from the business owner with a sort of rough outline. For example, a lead magnet or some mini thing that they all have on their website, the VA could then create it either in Adobe or Canva accounts, if it’s like a PDF download or something that’s fillable. And also then be able to put it onto the website. Or using software like MailChimp to start creating the email list. Because they need to build their own audience, basically.

Julia Chanteray 

Yeah. So that technical part of formatting a lead magnet, getting it set up so that people can actually get the lead magnets and get added to the list. Plus setting up the MailChimp or email distribution, you could give all of that to a VA, and you wouldn’t have to learn that stuff yourself.

Jane de Vos 

No. So if you don’t want to learn it, and you haven’t got the time, then there are VAs that will do, for example, a lead magnet package, newsletter package, you know, in their rates even, or you can have as part of your retainer with a VA, one of their monthly or weekly jobs is to do the automation and the lead magnet.

Julia Chanteray 

Right, perfect. So that’s a really good tip on how to handle it, but the business owner still needs to think of the idea and write it.

Jane de Vos 

Yes, or also you could get a copywriter on board.

Julia Chanteray 

Okay. And would a VA help with that? Find a good copywriter?

Jane de Vos 

Normally, yes, I think there are Facebook groups and your networks that sort of work, where I hang out as well, there are VAs that specialize in copywriting as well. So it just depends, I wouldn’t say there’s a VA that does everything amazingly. So you need to make sure that you have the right resources in place.

Julia Chanteray 

So it sounds like you all hang out together and you say, Oh, can you help me on this project and get people who’ve got really good skills, so you bring in other freelancers? Because you can spend hours trying to look for a trustworthy person to do some copywriting or do the technical thing. The time saver.

Okay, when somebody is more ambitious, and they want to scale quickly, would you say a VA could handle setting up multiple lead magnet funnels? Complex automations? Is that a fair thing that your normal VA can do? Or is that a specialist thing? Or is it a particular sort of VA? What kind of help would you need for that?

Jane de Vos 

I would personally get a more senior techie VA that’s got experience in it, because you don’t want to faff about in time if you want to do it quickly.

Julia Chanteray 

Okay. And if you had a VA, who was helping you with admin, would I be right in saying that, if you gave it to them to do it might be asking them to do too much? And they might get a bit like, oh my god, what’s this?

Jane de Vos 

Yeah definitely. Sometimes you can, especially if they’re starting out, if you’re a business owner that’s got, for example, all the procedures documented how you do things. VAs are very good at following what’s there and learning on the job. Because that’s part of why they love what they do because they want to learn all different systems and be able to serve more customers. But I think if it’s more techie, I would definitely go for a more techie route. And you can have more than one at the same time. And there are also people who have agencies where they have all different parts of the team. So then they can call on the person that they need to service that client as well.

Julia Chanteray 

All right, so that would be a VA agency, and they would have specialists. Yeah? Is that more expensive?

Jane de Vos 

Normally, you would get a retainer of 20 hours. But for example, you could go to them and say, I’m setting up a new product, I need to sort out the launch and the marketing. And they would have the whole project plan and they will put in the resources that they need and then give you a quote.

Julia Chanteray 

Excellent, good. And what about the promotion side of things? So we talked about setting things up on your website and if you look after LinkedIn for me, and when I give you stuff to publish on LinkedIn, you do that. Although that’s one of my weak points about putting stuff out there. But tell me about the sorts of things that a VA might do to promote the business and get the word out there.

Jane de Vos 

So depending on where your target customers are, you could have a scheduling tool in place. So something like if it’s more creative, or putting a product-based plan in for Instagram, or smarter cue does all the different social channels so that things are scheduled. So the VA could actually be creating the content in Canva, or other places or taking your photos of products or testimonials, putting them into software, which then you would either approve or if you know how they work, you just go and get on with it. And they can have it all scheduled. And it’s all done.

Julia Chanteray 

So, yeah. So definitely promotion on social media, putting all of that together. And what about other promotions, like networking or finding referrals?

Jane de Vos 

Yep, that’s possible as well. I think there are lots of mainly Facebook groups, and also LinkedIn groups as well, that they have access to, that they could help with. Okay, or setting up a Facebook group and making sure that people are nice in it, and it’s all up to you. So they could be like the moderator or admin on the client’s behalf. So also go in and proactively encourage people to discuss things and give feedback on products.

Julia Chanteray 

Okay, so lots of things. And overall, what would you see as the investment level that somebody might make at different business stages on getting a VA or an online business manager to help them?

Jane de Vos 

So I think initially, when you’re literally starting out, the VA is the first person you’re bringing on board, I would get them to do like all the admin bits. So as I said, you know, start off with maybe 10 to 20 hours per month, just so that you get used to also delegating and giving the work out because that takes a bit of time. And then depending on when you’ve got the product launches, get some other contractors as required on board. And they can be just project-based. So I’ve worked with people, where it’s a three-month stint because we know that’s when the launch is. So I come on board, I manage the team of the contractors, while they’re getting that done, and then I finish and then they carry on with the normal day-to-day.

Julia Chanteray 

And tell us about the money side of that when you’re thinking about how much investment that would be because I know that’s a concern for somebody, especially if you’ve not had a team or freelancers working for you before. You get to keep all the money in your business and you get used to that. And then suddenly, it’s like, oh, well give somebody else money. And you don’t necessarily want to do that. What might that look like?

Jane de Vos 

So I will say normally sort of general VA, I think probably budget anything between sort of £500 to £1000 a month. Initially working with OBM, I would budget £1500 pounds a month as a starter. And that’s like the basic stuff. And then if it’s a project leading up to a product launch, probably inject another sort of 25% on top timewise.

Julia Chanteray 

Right. So that would be quite a lot of involvement there, but you could also just dip your toe in the water and go for somebody at the lower end of the scale and it would be like £250 – £300 a month. Just to get you started.

Jane de Vos 

What I’ve seen for a biweekly newsletter and social media posts. Normally it’s about £250 per month, as a package from a VA.

 

How to get help from Jane de Vos

Jane has moved on from being a virtual assistant, and is now helping clients as a Director of Operations, working more at a problem and process solving level. Here’s her website.

How to use a virtual assistant in your business

I’ve worked with several virtual assistants and can’t imagine running my business without someone to help in this way. It means that you can move so much faster and get so much more done. Including all the tasks which are not in your Zone of Genius.

Whether you want to be able to concentrate on client work, be more productive or get help with building your product ecosystem, working with a virtual assistant is one of the first steps to building a successful business.

Radical delegation

Once you’ve got a virtual assistant in place, it’s useful to start thinking about what else you can delegate even more to them, or bringing in other people to help get things done. Here’s one story of a client who tried out radical delegation. 

 

 

 

 

Benefits of Business Coaching for Construction Companies

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Benefits of Business Coaching for Construction Companies

The list of challenges faced by CEOs in the construction industry is long indeed. However, these hurdles can be overcome through the employee-first business philosophy of the Great Game of Business. 

Harnessing Analytics for Data-Driven Digital Marketing Strategies

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Harnessing Analytics for Data-Driven Digital Marketing Strategies

In the realm of digital marketing, analytics are an invaluable tool for businesses striving to enhance their online presence. By harnessing data and insights, businesses can adapt their marketing campaigns, ensuring optimal performance.

The data harvested from analytics offers a comprehensive perspective on the performance of marketing campaigns, steering them in the right direction towards the achievement of key performance indicators. Zib Digital, a renowned SEO and digital marketing agency in Brisbane, sheds light on the fundamental ways analytics can be harnessed to improve digital marketing strategies.

According to Zib Digital, the foundation of any successful digital marketing strategy is understanding the behaviour of the target audience. Tools like Google Analytics unveil essential insights such as geographic locations, user interactions and preferences. By capitalising on this data, marketers can tailor their strategies to cater to their audience’s unique needs, boosting engagement and conversions.

To gauge the effectiveness of digital marketing campaigns, Zib Digital explains businesses must align their key performance indicators (KPIs) with their marketing objectives. These objectives can range from raising brand awareness to driving sales. The leaders in SEO in Brisbane recommend setting specific KPIs for each objective, such as tracking website traffic, conversions and engagement. These KPIs are pivotal in measuring campaign success and providing a clear picture of progress.

Choosing the correct analytics tool is imperative, as different tools offer distinct features and capabilities. Zib Digital advises clients to match the tool with their specific needs. Tools like Google Data Studio, Google Analytics 4, Google Search Console and Microsoft Excel each serve different purposes and should be employed accordingly for data visualisation, website traffic analysis, keyword tracking and data manipulation.

Testing campaigns is crucial for optimising performance. Analytics aids in conducting A/B tests on various elements, including headlines, images, text and colour choices for call to action buttons. Zib Digital says these tests generate valuable data on audience behaviour and preferences, facilitating informed decision making and strategy refinement.

After data collection and campaign testing, the next step is analysis to reveal trends, expose unusual patterns and uncover correlations between variables. Zib Digital underscores the importance of using analytics to validate hypotheses rather than relying on gut feeling.

To learn more from the leading SEO agency in Brisbane about how to use analytics to make data driven decisions, contact Zib Digital.

About Us: Zib Digital is a leading digital marketing agency in Australia and New Zealand. With a commitment to staying at the forefront of industry trends, Zib Digital offers expertise in a range of digital marketing strategies to help businesses achieve their online goals.

Contact Info:
Name: Zib Digital
Email: Send Email
Organization: Zib Digital
Website: https://zibdigital.com.au/

Release ID: 89110424

Should any problems, inaccuracies, or doubts arise from the content contained within this press release, we kindly request that you inform us immediately by contacting [email protected]. Our dedicated team will promptly address your concerns within 8 hours, taking necessary steps to rectify identified issues or assist with the removal process. Providing accurate and dependable information is at the core of our commitment to our readers.

Modern dental clinic concept debuts in Toronto with 30% lower fees on quality dental work as the majority of Canadians w…

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Modern dental clinic concept debuts in Toronto with 30% lower fees on quality dental work as the majority of Canadians w…

Dentistry for Everyone’s first location opens today near Liberty Village to increase access to dental care & help save patients hundreds of dollars with every visit

TORONTO, Oct. 23, 2023 /CNW/ – As a new survey reveals even high-income earners are worried about the cost of dental care, and dental fee guides have increased by up to 10 per cent, a team of local dentists debut Dentistry for Everyone. The innovative dental clinic concept offers quality care on core dental services for at least 30 per cent less than standard fees. Dentistry for Everyone opens its first location today near Liberty Village in Toronto at 406 Dufferin St.

“Finding a way to improve access to dental care has been a longtime dream. We’re thrilled to open our first clinic today to introduce a revitalized and modernized clinic model to achieve our mission to make dentistry more accessible to everyone,” said Dr. Karim ElMofty, co-founder of Dentistry for Everyone, member of the Ontario Dental Association, and general dentist with a Master’s degree in Dental Public Health.

Efficiency takes the bite out of costs without compromising quality care, $49 exam
Dentistry for Everyone exists to make dental care accessible with more affordable fees, price transparency, and a modern, convenient, comfortable dental experience. 

By leveraging technology to automate and eliminate administrative tasks, and focusing on only the most common and necessary dental services, Dentistry for Everyone is able to significantly decrease operational costs and patient fees, without compromising the quality of care.

To empower patients to take charge of their oral health, Dentistry for Everyone offers seamless 24/7 online booking and payments, automated reminders for upcoming sessions, transparent pricing and treatment plans, flexible scheduling, a streamlined check-in process, and a friendly, welcoming, non-traditional clinic setting. In addition to booking online at www.dentistryforeveryone.ca, appointments can also be made by calling 416-814-1111.

To support preventative care and help catch small problems before they become bigger, more expensive issues, Dentistry for Everyone offers an exam that includes x-rays for $49 which is approximately three times less than standard fees.

With a commitment to transparency, pricing for all services is featured on its website here and includes cleanings, tooth extractions, simple root canals, fillings, and emergency toothache management.

To support oral health and other dentists, Dentistry for Everyone refers patients who require help beyond its core dental services to local general dentists and specialists in the local community.

Best-in-Class Dental Materials
Dentistry for Everyone is committed to quality care and exclusively utilizes best-in-class dental materials and equipment. Additionally, its team are all members of their respective colleges, including its dentists who are members of the Royal College of Dental Surgeons of Ontario.

New ‘Access to Dentistry’ survey reveals high-income earners are worried
A recent Leger survey, commissioned by Dentistry for Everyone, reveals even Canadians (43 per cent) earning incomes over $100k would like to get more dental work but are worried about the cost, compared to 62 per cent with a household income of less than $100k.

Furthermore, over half of all Canadians (56%) agree they’d like to get more needed dental work completed, but are worried about being able to afford it.

“I’ve seen lawyers to low-income earners worry about affording the services needed for good oral health. Even patients with dental insurance and government support worry about costs,” said Dr. ElMofty.

Additional survey data reveals access to dental care can be painful:

  • 53% of Canadians would be more likely to go to the dentist if they could book online or through an app with upfront pricing
  • 75% wish they knew how much their dentist appointment would cost before they booked the appointment
  • Over half (51%) agree they have dental benefits, but it’s never enough to cover their entire dental care needs
  • Please find national, and GTA-specific data from the survey here.

Expansion plans
Dentistry for Everyone’s first clinic is located at 406 Dufferin St. near Toronto’s Liberty Village. Additional clinics are planned for 2024 with openings across the Greater Toronto Area. Dentistry for Everyone’s innovative model is set to disrupt Canada’s dental market anticipated to grow by 2.6% this year to reach $21.7b in revenue.

About Dentistry for Everyone
Dentistry for Everyone is modernizing the dental clinic model to provide commonly needed dental services for at least 30 per cent less than standard fee guides while adhering to a high standard of care. Dentistry for Everyone was founded by a group of accomplished and experienced Toronto dentists on a mission to make dental services accessible with more affordable fees, and a modern, convenient, comfortable dental experience. By offering upfront pricing, seamless booking, and a friendly, comfortable, calming environment, Dentistry for Everyone aims to help patients feel at ease while receiving care in a modern, non-traditional clinic setting.

Leger survey methodology
On behalf of Dentistry for Everyone, a survey was completed between September 15-17, 2023, using Leger’s online panel of 1564 Canadians, 18+. No margin of error can be associated with a non-probability sample (i.e. a web panel in this case). For comparative purposes, though, a probability sample of 1564 respondents would have a margin of error of ±2.5%, 19 times out of 20.

SOURCE Dentistry for Everyone

For further information: Media contact: Victoria Kirk, V&CO PR, 416.558.4507, [email protected]

Why Jerry Seinfeld’s technique won’t work for you

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Why Jerry Seinfeld’s technique won’t work for you

This productivity technique is attributed to Jerry Seinfield, but you may have come across it before. I think a cavewoman might have invented it centuries ago. And it’s supposed to work like this:

You’ve got something that you want to work on, but you’re a bit blocked. You want to move it up your to-do list and get serious with it. The Jerry Seinfeld productivity technique suggests that you buy a cheap calendar, put it on the wall, and cross off each day that you take action. Or make a scratch on the wall of your cave if they haven’t invented calendars yet.

The idea is to put a big fat cross through each day that you do something on your priority project. The crosses on the calendar form a chain. There’s an incentive to take some action every day, and you don’t break the chain.

Jerry Seinfeld uses his calendar to mark every day that he works on comedy material, and he tries to keep his chain of crosses going, working on writing material every day.

Jerry is one of the most successful comedians of all time, earning $69 million a year, so this productivity technique is working for him.

Keep the chain going.

I wouldn’t mind getting $69m a year, so I gave the Jerry Seinfeld productivity technique a go.

For ages, I’ve wanted to produce more videos, but had a real block to doing this. I stop and start, and never develop any momentum on it. Even though I know that if I can master this, it’ll be a great way of communicating all the zillions of ideas in my head about how to develop a successful business.

I printed out a calendar, put it on my cave/home office wall, and blu tacked a red Sharpie next to it. I knew I had some extra time for a few days, so I thought I could get a head start.

It was great at first – I learned about camera positioning and watched a bunch of tutorials about editing techniques in Camtasia. But a whole day was wasted trying to set up a lighting rig which wouldn’t reflect in my glasses, and I started to get a bit disheartened. Then my partner wanted me to come out of the cave and go for a walk in the sunshine. And then a client needed something, and then something went wrong with the website.

My chain lasted four days.

I felt guilty twice, first for not doing the thing I wanted so much to do, but also for breaking the chain. I threw the calendar in the recycling and did some more research on how to get into action.

A lot more research.

I found this all so fascinating that I’ve been reading tons of books, looking into the science behind habit formation, how our brains work and trying out lots of other productivity techniques.

So why won’t Jerry’s productivity technique work for you?

The problem with the Jerry Seinfeld productivity technique is that it’s one single tactic. It’s a great tactic in itself, but we need more than a calendar and a Sharpie pen to get going when we want to get into action.

In fact, from my research, we also need:

  • A compelling reason – the big why
  • Other people encourage us and be on our side
  • Other people to give us tips and tricks to improve, so we don’t waste all day cutting up bits of shower curtain to stick over a lamp to reduce glare when making videos, for example.*
  • A feeling that we’re making progress along the way, which stops us giving up
  • To quickly get to the point where getting into action is intrinsically enjoyable – we humans can’t maintain a grind for very long.
  • Recognition for our hard work
  • A way of protecting some time each day to work on this. So we can permit ourselves to ignore all the other urgent claims on our time, for a little while.
  • Bach’s cello suites (optional, but you get my point)

Can you see a theme coming out of my research?

You need other people to reach the finish line.

Projects which involve working on your business rather than in your business work better when you do them with a group of other people with you. If you’re around other people who also want to do the same, you help each other reach the finish line.

It doesn’t matter if one person wants to work on writing new content, while I want to gain momentum on creating videos and someone else wants to make three sales calls a day. What we need is other people to be doing this with us. And then we can make $69m a year/conquer the universe/get some great new clients.

Why we procrastinate

I’ve been thinking about this a lot recently. One of the things I hear from my clients all the time is

“I didn’t have time to do the client work and to productise, even though I know that this is the best way to scale my business.

Or

“I’ve done A, B and C, but I didn’t get chance to do D” where D is the action that would get their new thing out to the world and make some money from it.

And I’m willing to bet that you’ve said those things as well. Seeing as you’re human and all that. I certainly have.

An invitation to join us

I’m on a mission to bring together business owners and founders who want to scale their businesses and help more people by building product-based businesses. Every few months I bring together a group of people in the Productise Your Expertise programme. Over six months, we work together to build products and develop a tribe of people who will buy those products.

Interested in joining a group of interesting clever people who will help you on your way? And get help and support from me along the way?

Check out Productise Your Expertise

Even if you’re Jerry Seinfeld and cross over your calendar every day, I bet you’d love working on productising with us.

 

 

The myth of passive income

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The myth of passive income

Oh, the alluring myth of passive income. I often see ads and websites for people offering me an easy way to develop passive income. So much passive income that I’d actually not have enough hours in the day to sit on the beach counting my money.

You’ve probably seen the same kind of thing, offering to show you the exact way someone else has built a “six-figure launch” or a “six-figure business” in 6 months. For some reason, it’s usually 6 something.

The story goes something like this

You build an online product, such as a workbook on pricing for small businesses, or an online course. You knock this up in a weekend. I’m having a particularly ironic laugh at this, as Sweetspot Pricing definitely took more than a few weekends to put together. You build a quick website, throw together some blogs, and add a PayPal link for people to send you tons of cash.

Get a virtual assistant, and she will do a fantastic Facebook ad campaign for you, sending you tons of traffic to your new website.

You sit back and watch a six-figure launch while drinking cocktails on the beach. You never have to work again.

The problem with these passive income myths

You’re unlikely to have a six-figure launch, it is probably more likely to be a three-figure launch. Most information products take a considerable time to build up. That’s because to make a success from online products, you normally have to have a range of products and cross-sell between them. I call this a product ecosystem, and it’s pretty much essential if you want to make a successful product-based business, rather than a side hustle or tiny extra income stream.

And the other big myth here is…

The idea that six figures is enough to retire. It’s not. Six figures is just 100,000. Even if you did magic up a six figure launch, you’d probably do something sensible, like pay off a chunk of your mortage, rather than sit on the beach doing nothing.

The trouble with the whole set of myths around passive income is the word passive. It appeals to the lazy side of all of us. Who wouldn’t want to follow a particular recipe and have money pouring in after knocking up a product and not have to do any further work?

The truth about passive income

I’ve worked with some pretty clever and famous people, who have had very successful digital product businesses and one of the things I’ve noticed about all of them is that they’re not lazy, and they never sit still.

There are always going on to the next product in their ecosystem. In fact, they’ve got a product rollout schedule and they are so excited about what they do, that they’re constantly creating more blogs, podcasts and videos to communicate with the world about what they love.

Maybe I don’t hang out enough at the cocktail bar on the beach here in Brighton, but I don’t think that the Fortune of War pub is crammed on a Tuesday morning with online entrepreneurs celebrating their six-figure launches.

I think that you know that these passive income myths are just that myths because they are too good to be true.

As with just about everything else in business, you can do a rubbish version of this very quickly, or you can do it properly so that people love it, recommend it and will buy more things from you. Guess which one brings sustainable success.

How long does it takes to make a digital product?

Start with your tribe

When I’m advising people who want to sell some kind of online product, we don’t even start with the product. We start with building what I call your tribe.

The tribe is your fan base, the people who were interested in whatever it is, that is going to be encapsulated in your online product. We want to get that tribe engaged, and get permission to send them emails.

It’s only when we are clear who our tribe are, that we start with building the product to sell to them..

Even if you have got a tribe already, you’re going to need to build it further. And this is where you need some sort of lead magnet to bring in new potential customers for you so you can begin to nurture them.

Writing content, building email nurture lists, even testing out your Facebook ads, these will take time, expertise and some love and care.

Why the myth of passive income makes me cross

I get very cross indeed about people who boast to others about their six-figure launches, their passive income streams, and how easy it all was. And I could write in detail about the weird psychology of all of this and why people need to boast in this way, to cover up their own anxieties.

But I won’t go into detail here about this, just be warned that you’ll come across people who will tell you that they are massively successful, and they’re probably lying. So, you shouldn’t compare yourself with them.

The most obvious way to inoculate yourself against these boasts is to ask yourself why these people are bothering to sell you the secrets of their huge success?

If they have so much passive income, why aren’t they just sitting on the beach, enjoying life? Why are they on Facebook, trying to get some of your money if they have so much already?

Most people are building online products because they want to change from a service orientated business, or to just add some more money to their turnover on top of selling services.

It takes time to do this. It takes time, concerted effort and online marketing, so don’t expect to be drinking cocktails on the beach right away.

myth of passive income - maybe just one cocktail to celebrate

Well, maybe just one pina colada to celebrate your first sale, but then it’s back to writing blogs and improving your email sequence.

Realistic optimism, not the myth of passive income

I’ve written this to reassure you if you’re ever caught by those people who promise instant results and six figure launches. Or if, like me, you get furious when you see this.

But, it is possible to make a good living from a product-based business, while recognising that passive income is a myth. Recognising that building a product-based business takes just as much time and effort as building a services based business is realistic optimism. You can do it, but it’s never that quick fix.

To find out more about what’s involved in building your ecosystem of profitable digital products and productising your expertise, with a healthy does of realistic optimism, check out Adventures in Products.

Adventures in Products

 

Photo credits to Piotr Usewicz, Garett Mizunaka on Unsplash; money time, beach, laptop from Pxhere and Giulia Forsyther on Flickr

5 Benefits in Strategic Partnerships to Drive Growth (#3)

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5 Benefits in Strategic Partnerships to Drive Growth (#3)

Strategic partnerships are crucial for business growth because they empower companies to achieve more together than they could individually.

Share your thoughts on how these could benefit your growth strategy.

Here is my new series on “5 Benefits in Strategic Partnerships to Drive Growth” (#3) and subscribe to get access to all the steps:

# 1 Combined Resources and Expertise:

# 2 Risk Sharing and Mitigation:

# 3 Access to New Markets and Customers:

# 4 Cost Efficiency and Economies of Scale:

# 5 Innovation and Creativity:

We are going to cover in depth each of these 5 benefits during this series.

# 3: Access to New Markets and Customers:

Connection- Kickstart the journey by joining forces with another business, like getting to know a fellow business owner. These businesses can become like your new work peers, helping each other expand  your professional networks. This initial step sets the stage for a promising partnership, just like making a new friend in the business community.

►Exploring New Opportunities – As your partnership grows, both businesses can start reaching new customer groups and exploring untapped markets. This is similar to when a business friend introduces you to their network, broadening your connections and business prospects.

►Strengthening Collaboration – By using this expanded network, you can both venture into new territories and connect with customers you haven’t reached before. It’s like deepening your business friendships within a larger community, which leads to increased revenue and growth.

This collaborative effort strengthens the partnership, promising growth, efficiency, and increased revenue, much like how enduring friendships grow stronger over time.

►Subscribe to “Exit Planning Strategies” to get access to each of the “5 Benefits in Strategic Partnerships to Drive Growth”.

Looking forward to sharing in the next article, “5 Benefits in Strategic Partnerships to Drive Growth”.

►Ready to start discussing your business’s exit planning strategy?

Then click to schedule a Business Strategy Session.

Paychex Review 2023 – The Essential Guide for Small Business Owners

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Paychex Review 2023 – The Essential Guide for Small Business Owners

What is Paychex?

Paychex is a leading provider of payroll services, offering a range of payroll tools and software to help businesses manage their payroll processing efficiently. With Paychex, small and midsize businesses (SMBs) can easily handle payroll tasks such as generating pay stubs, calculating and filing payroll taxes, and facilitating direct deposit payments for employees.

Payroll Tools and Software

Paychex provides businesses with a comprehensive suite of payroll tools and software that simplify the payroll process. These tools enable businesses to streamline their payroll operations, saving time and reducing the risk of errors.

Some key features of Paychex’s payroll tools include:

  • Pay Stub Generation: Paychex allows businesses to generate professional pay stubs for their employees. This feature ensures employees can access detailed information about their earnings, deductions, and taxes.
  • Payroll Tax Calculation and Filing: Calculating and filing payroll taxes can be complex and time-consuming. Paychex’s software automates this process, ensuring accurate calculations and timely filing of tax forms.
  • Direct Deposit: Paychex facilitates direct deposit payments for employees, eliminating the need for paper checks. This feature offers convenience for both employers and employees by enabling secure electronic transfers directly into employee bank accounts.

What are the features of Paychex Flex?

office, startup, business

Paychex Flex is a robust software that offers a wide range of features to streamline payroll and HR processes. Let’s take a closer look at some of its key features.

Employee Self-Service

With Paychex Flex, employees have access to their own self-service portal. They can view their pay stubs, track their time and attendance, request time off, and update personal information. This empowers employees to take control of their data and reduces the administrative burden on HR departments.

Time Tracking

Paychex Flex provides comprehensive time-tracking capabilities. It allows employees to clock in and out using various methods such as biometric devices, mobile apps, or web-based punch clocks. The system automatically calculates hours worked, overtime, and even handles complex pay rules based on your company policies.

Reporting

One of the standout features of Paychex Flex is its robust reporting functionality. It offers a wide range of pre-built reports for payroll, benefits administration, taxes, and more. These reports provide valuable insights into your business operations and help you make informed decisions. You can customize reports according to your specific needs.

Tax Compliance

Payroll tax compliance can be complex and time-consuming. Paychex Flex simplifies this process by automating tax calculations and ensuring accurate deductions for federal, state, and local taxes. The software also generates W-2 forms for employees at year-end and assists with tax filings.

HR Features

In addition to payroll management, Paychex Flex offers several HR features to support your human resources department. These include applicant tracking systems (ATS), employee onboarding tools, new hire reporting, performance management modules, and employee handbook creation tools.

Mobile App

To cater to the needs of today’s workforce that is always on the go, Paychex Flex provides a user-friendly mobile app. The Paychex Flex app allows employees to access their payroll and HR information, submit time-off requests, view pay stubs, and more from their smartphones or tablets.

Standout Features

While Paychex Flex offers a comprehensive suite of features, there are a few standout functionalities worth mentioning:

  • Pay-on-Demand: This unique feature allows employees to access earned wages before the regular payday. It provides financial flexibility for employees and can help alleviate financial stress.
  • Employee Financial Wellness: Paychex Flex offers tools and resources to support employee financial wellness. This includes budgeting tools, educational resources on personal finance, and retirement planning assistance.
  • Integration Capabilities: Paychex Flex integrates seamlessly with other popular business software such as accounting systems, time and attendance solutions, and benefits administration platforms. This ensures smooth data transfer between different systems and eliminates the need for manual data entry.

How much does Paychex cost?

dollars, currency, money

Paychex offers various pricing options to cater to businesses of all sizes. The base price for their payroll services varies depending on the plan you choose.

Paychex Flex Essentials Plan – $39/month + $5 per employee

This plan is suitable for companies with fewer than 20 employees. It provides payroll processing and tax administration. In addition, it includes employee self-service, talent management tools, integrations, and workforce management. Users can also opt into various add-ons to meet their specific needs.

Paychex Flex Select Plan – Custom Pricing

This is the company’s most popular plan. In addition to what’s included in Essentials, it provides:

  • One-on-one support.
  • Employee training and development.
  • Online payroll processing and tax filing.

Paychex Flex Pro Plan – Custom Pricing

The pro plan is its most comprehensive payroll solution. You must contact the company for a quote. It provides the following in addition to what’s available in the Essentials plan:

  • Full-service setup, payroll, and tax filing.
  • HR software and handbook tools.
  • A dedicated payroll specialist or personal consultant to assist with payroll or HR services.

Factors That Can Affect Pricing

Paychex offers various add-ons and services that can be included in your payroll package, such as time and attendance tracking, employee benefits administration, and HR consulting. These additional services may incur an extra fee for the base price for Paychex Flex Plans.

It’s also worth mentioning that the number of employees you have will impact the pricing structure. As your business grows and you hire more staff members, the cost of the payroll service may increase accordingly.

What are the benefits of Paychex Flex?

Paychex Flex offers a range of advantages that can significantly benefit businesses.

Streamlined Payroll Processing

With Paychex Flex, managing payroll becomes much easier and more efficient. The platform automates various payroll tasks, such as calculating wages, deducting taxes, and generating pay stubs. This streamlines the entire process, saving time and reducing the likelihood of errors.

Compliance Assistance

Staying compliant with ever-changing employment laws and regulations can be challenging for businesses. However, Paychex Flex provides valuable compliance assistance to help navigate through these complexities. The platform keeps track of updates to labor laws and automatically adjusts payroll calculations accordingly. It also generates necessary reports to ensure compliance with government requirements.

Access to HR Resources

Small businesses may not have dedicated HR departments, making it challenging to handle employee-related matters effectively. Fortunately, Paychex Flex offers access to a wealth of HR resources that can help manage various aspects of human resources. From employee management to creating employee handbooks and policies, the platform provides valuable tools and guidance.

Health Benefits Management

Managing employee health benefits can be a time-consuming task for employers. With Paychex Flex, businesses gain access to comprehensive benefits administration tools that simplify this process. The platform allows employees to enroll in health insurance plans online easily and provides tools for tracking eligibility, managing contributions, and handling open enrollment periods.

Customizable Reporting

The ability to generate customized reports is crucial for businesses looking to gain insights into their operations. Paychex Flex offers various reporting options, allowing businesses to create reports tailored to their specific needs. Whether it’s payroll summaries, labor distribution reports, or employee turnover analysis, the platform provides valuable data and analytics.

Integration with Other Systems

For businesses that utilize multiple software systems, seamless integration is essential. Paychex Flex integrates well with other popular business tools, such as accounting software and timekeeping systems. This integration eliminates the need for manual data entry and ensures smooth transfer of information between different platforms.

Exceptional Customer Support

When using any software platform, having access to reliable customer support is crucial. Paychex Flex offers exceptional customer support services to assist users with any questions or issues. Their team of experts is available via phone, email, or chat to provide prompt assistance and ensure a smooth user experience.

What are the limitations of Paychex Flex?

While there are many benefits to Paychex, it does have its drawbacks – just like any software solution. Here are some limitations to know.

Payroll Features and Tools

Paychex Flex is a popular online payroll software, but it may not have all the payroll features and tools available in other programs like QuickBooks Payroll. While Paychex Flex offers a range of functionalities for managing payroll, some users might find that QuickBooks Payroll provides more comprehensive options, such as automated payroll.

For example, QuickBooks Payroll offers advanced features like automatic tax calculations and direct deposit for employees. So, if you require specific payroll features or tools, it’s worth comparing the offerings of both platforms to ensure you choose the one that best suits your needs.

User Interface and Intuitiveness

One potential limitation of Paychex Flex is that some users may find its online payroll software to be less intuitive compared to other payroll processing services. The user interface is essential in ensuring ease of use and efficiency when managing payroll tasks.

While Paychex Flex does provide a user-friendly interface, it’s important to note that different individuals may have varying levels of comfort with technology. Therefore, it’s advisable to consider your familiarity with online systems before opting for Paychex Flex.

Additional Fees

Paychex Flex offers various pricing packages depending on your business requirements. However, it’s essential to know that certain features within these packages may incur additional fees.

For instance, employee access to pay stubs or specialized services like assistance with payroll taxes might incur extra charges. It’s crucial to carefully review the pricing structure and understand which features are included in your chosen package versus those that require additional payment. This way, you can avoid any unexpected costs while using Paychex Flex.

Paychex Flex Pros & Cons

pros, and, cons

Pros:

  • User-friendly interface.
  • Customizable features to meet specific business needs.
  • Simplified payroll processing and tax filing.
  • Accessible from any device with an internet connection.
  • Comprehensive reporting and analytics tools.
  • Integrated HR management capabilities.
  • Excellent customer support.

Cons:

  • Costly for small businesses with limited budgets.
  • Some users may find the system overwhelming due to its extensive features.
  • Occasional glitches and technical issues.
  • Limited options for customization in certain areas.
  • Steeper learning curve for new users.
  • Additional fees for certain services or add-ons.

Frequently Asked Questions

faq, ask, often

Here are the most common questions about Paychex Flex for small business payroll management.

How are Paychex’s customer service and support quality?

support, letters, scrabble

Paychex is known for its excellent customer support and service, ensuring that its clients receive prompt assistance with any payroll-related issues or questions they may have. Their dedicated team of experts is always ready to help businesses navigate through any challenges they encounter.

What are Paychex’s PEO services?

businessman, consulting, business

Paychex offers a range of PEO (Professional Employer Organization) services that can greatly benefit businesses. But what exactly are PEO services, and how can Paychex help? Let’s dive in and explore the advantages of using Paychex’s PEO services.

What PEO Services Are and How Paychex Offers Them

PEO services are designed to provide comprehensive HR solutions for businesses. When you partner with a PEO like Paychex, they become the employer of record for your employees. This means they handle essential HR tasks such as payroll processing, employee benefits administration, tax filing, risk management, and more.

Paychex is known for its robust suite of PEO offerings. They have a team of experienced professionals who take care of all the administrative tasks so business owners can focus on growing their companies. From managing payroll to providing access to employee benefits, Paychex ensures businesses have the support they need.

Advantages Businesses Can Gain from Using Paychex’s PEO Services

  1. Access to Comprehensive Employee Benefits: One significant advantage of partnering with Paychex is that they offer various employee benefits packages. These packages include health insurance, retirement plans, and other perks that can attract top talent to your company.
  2. Expertise in Compliance and Risk Management: Staying compliant with ever-changing regulations can be challenging for business owners. However, by utilizing Paychex’s PEO services, you gain access to experts who stay up-to-date on employment laws and ensure your business remains compliant.
  3. Streamlined Payroll Processing: Managing payroll can be time-consuming and prone to errors if not done correctly. With Paychex’s PEO services, you no longer have to worry about calculating wages or dealing with tax withholdings – it’s all taken care of. This allows you to focus on other critical aspects of your business.
  4. Training and Development Programs: Paychex understands the importance of employee training and development for business growth. They offer various training programs that can help enhance your employees’ skills, ensuring they can contribute effectively to your organization’s success.
  5. Access to a POS System: For businesses in the retail or hospitality industry, having a reliable point-of-sale (POS) system is crucial. Paychex provides access to a user-friendly POS system that enables seamless transactions and inventory management, making it easier for businesses to operate efficiently.
  6. Business Insurance Options: Paychex offers a range of insurance options tailored specifically for small businesses. Whether you need general liability insurance or workers’ compensation coverage, they can help you find the right policies to protect your business and its employees.

Unique Offerings & Standout Features with Paychex PEO Services

Paychex goes above and beyond in providing exceptional PEO services. Here are some standout features they offer:

  1. Dedicated HR Support: Paychex assigns each client a dedicated HR professional who becomes intimately familiar with their business needs. This personalized support ensures you receive customized solutions and expert guidance whenever needed.
  2. Dispersed Team Management: If your company has dispersed teams across multiple locations, managing HR tasks can become complex. Paychex simplifies this process by centralizing all HR functions, making it easier for you to manage your workforce regardless of their location.
  3. Flexible Service Options: Paychex understands that every business has unique needs. That’s why they offer flexible service options, allowing you to select the specific services that align with your requirements and budget.

How can I manage payroll taxes with Paychex?

bookkeeping, accounting, taxes

Paychex offers a range of features and services that assist businesses in handling their payroll taxes.

Tax Filing and Reporting Automation

One of the key ways Paychex helps businesses manage their payroll taxes is through tax filing and reporting automation. With their advanced system, businesses can automate the entire process of filing taxes, saving time and reducing the chances of errors. This feature ensures that all necessary forms are filed accurately and on time, helping businesses stay compliant with tax regulations.

Streamlined Tax Administration

Paychex also provides a streamlined tax administration system that simplifies the management of payroll taxes. Through their platform, businesses can easily calculate and withhold the correct amount of taxes from employee paychecks. This not only ensures accuracy but also saves time that would otherwise be spent manually calculating deductions.

Updates for 2023

As we move into 2023, Paychex continues to enhance its offerings to better serve businesses in managing their payroll taxes. They understand that tax laws and regulations change regularly, so they strive to stay up-to-date with any updates or changes that may impact businesses’ tax obligations.

In light of these updates, Paychex provides regular software updates to ensure compliance with new tax laws. This proactive approach helps businesses avoid penalties or fines resulting from outdated systems or incorrect calculations.

Paychex offers expert guidance on navigating complex tax rules specific to each state. They have a team of knowledgeable professionals who stay informed about state-specific requirements, ensuring businesses remain compliant no matter where they operate.

Benefits of Effective Payroll Tax Management

Managing payroll taxes effectively is crucial for every business. Here are some benefits that come with using Paychex’s payroll tax management system:

  • Time-saving: By automating tax filing and reporting, businesses can save valuable time that can be redirected towards other important tasks.
  • Accuracy: Paychex’s advanced system helps reduce the chances of errors in tax calculations, ensuring accurate deductions and filings.
  • Compliance: Staying compliant with tax regulations is essential to avoid penalties or fines. Paychex’s expertise and regular updates help businesses remain in good standing with tax authorities.
  • Peace of mind: With Paychex handling payroll taxes, businesses can have peace of mind knowing that professionals are managing their tax obligations.

What third-party integrations does Paychex Support?

mockup, ipad, iphone

Paychex understands that running a business involves more than just managing payroll. That’s why they offer seamless integrations with popular third-party software, making it easier for small businesses to streamline their operations.

Accounting Software Integrations

Managing your finances is crucial for any business, and Paychex makes it simple by integrating with popular accounting software like QuickBooks and QuickBooks Online. By connecting your Paychex payroll tools with QuickBooks, you can easily sync your financial data and ensure accurate bookkeeping. This integration eliminates the need for manual data entry, saving you time and reducing the chances of errors.

Time Tracking Tools Integration

Tracking employee hours accurately is essential for calculating payroll. With Paychex’s integration with various time tracking tools, such as TSheets or TimeClock Plus, you can seamlessly transfer employee hours into the Paychex platform. This integration ensures that your employees’ time records are accurately reflected in their paychecks without the hassle of manual data entry.

Direct Deposit Integration

Paying employees through direct deposit is not only convenient but also helps save time and money on paper checks. Paychex integrates effortlessly with major banks, allowing you to deposit funds directly into your employees’ bank accounts securely and efficiently. By utilizing this integration, you can automate the payment process while ensuring compliance with legal requirements.

Compliance Assistance Integration

Staying compliant with ever-changing labor laws and regulations can be challenging for businesses of all sizes. Fortunately, Paychex offers integrations with compliance assistance platforms like ThinkHR to help navigate these complexities effectively. These integrations provide access to valuable resources such as HR support, training materials, and legal compliance updates—enabling small businesses to stay informed and avoid costly penalties.

Insurance Management Integration

Managing employee benefits and insurance can be a time-consuming task. Paychex simplifies this process by integrating with insurance carriers, allowing you to seamlessly manage your company’s insurance plans within the Paychex platform. This integration ensures that your employees have access to the necessary coverage while minimizing administrative burdens for your HR team.

Remote Team Collaboration Integration

In today’s digital age, many businesses operate with remote teams. Paychex recognizes this shift and offers integrations with collaboration platforms like Slack or Microsoft Teams. These integrations enable seamless communication between HR departments and remote employees, ensuring that important payroll information is easily accessible regardless of location.

Other Integrations

Apart from the integrations mentioned above, Paychex supports various other third-party software integrations to cater to different business needs. Whether it’s project management tools like Asana or customer relationship management (CRM) platforms like Salesforce, Paychex can integrate with these systems to enhance efficiency and productivity across your organization.

Integrating Paychex with existing software and tools is a breeze thanks to their user-friendly interface and dedicated support team. They provide step-by-step guidance on how to connect these integrations, making it accessible even for those without extensive technical knowledge.

By leveraging the power of these third-party integrations supported by Paychex in 2023, small businesses can streamline their operations, save time on administrative tasks, and focus on what truly matters—growing their business.

What do user reviews say about Paychex?

feedback, group, communication, worst customer service

Paychex Flex has received mixed reviews from users. Many users appreciate the user-friendly interface and the ease of use of the platform. They find the payroll processing features to be efficient and reliable. Users also praise the customer support, mentioning that the representatives are helpful and responsive.

On the other hand, some users have reported issues with the accuracy of the payroll calculations. They have experienced discrepancies in tax calculations and have had to make manual adjustments. Some users have also found the reporting features to be limited and not customizable enough to meet their specific needs.

Overall, Paychex Flex seems to be a popular choice for HR outsourcing, PEO services, and payroll management. While it has its drawbacks, many users find it to be a valuable tool for their business needs.

Can I customize my payroll settings with Paychex Flex?

developer, programmer, technology

Yes, Paychex Flex allows you to customize your payroll settings according to your specific business requirements. From setting up deductions and earnings codes to defining pay schedules and tax information, you have complete control over how your payroll functions.

Does Paychex offer mobile access?

Yes, with the Paychex Flex mobile app, you can conveniently access important payroll and HR information on the go. You can view pay stubs, check work schedules, request time off, and even clock in/out using your smartphone or tablet.

What security measures does Paychex have in place?

security, protection, antivirus

Paychex takes data security seriously. They employ industry-standard encryption protocols to protect your sensitive information. They have stringent access controls and regularly undergo security audits to ensure the highest level of protection for your data.

How long does it take to set up Paychex Flex?

The setup process for Paychex Flex can vary depending on the complexity of your business requirements. However, Paychex provides comprehensive support and training resources to guide you through the setup process efficiently. With their assistance, you can get up and running with Paychex Flex in a timely manner.

Paychex Review 2023 – Final Thoughts

student, typing, keyboard

Paychex is a comprehensive payroll and HR solution that offers a range of features to streamline your business operations. With its user-friendly interface and robust functionality, Paychex Flex provides an efficient way to manage payroll, HR tasks, and employee benefits. The pricing plans are flexible, allowing you to choose the options that best suit your business needs.

One of the standout features of Paychex is its top-notch customer service and support. Their knowledgeable team is readily available to assist you with any questions or issues that may arise. Whether managing payroll taxes or integrating with third-party applications, Paychex can help.

Overall, if you’re looking for a reliable payroll and HR solution in 2023, Paychex should definitely be on your radar. Its extensive capabilities, excellent customer support, and competitive pricing make it a strong contender in the market.

Contact us if you have more questions about Paychex or to apply for a small business loan. Our alternative funding experts can help you find the best financing options for payroll solutions or other business needs.

The Magic Equation: Transforming Your Digital Marketing Strategy | by Tijo Philip | Oct, 2023

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The Magic Equation: Transforming Your Digital Marketing Strategy | by Tijo Philip | Oct, 2023
Photo by Desola Lanre-Ologun on Unsplash

In today’s bustling digital ad space, marketers frequently find themselves diving deep into channel analytics, often neglecting the overarching view. Sound familiar? You pull up your data, note that 75% of sales are thanks to Facebook lead generation, and, naturally, allocate the majority of your budget there. Simple, linear, and seemingly effective. But are we potentially sidelining a crucial aspect?

Broadening the Perspective

Consider a different scenario: What if a sizeable chunk of your sales traces back to a particular demographic, like the 40–50 year-olds nestled in suburban areas? Beyond just optimizing channels, you’ve now uncovered a richer dimension — segment-centric optimization.

The Dual-Faceted Revolution

Enter the realm of Dual-Dimension Budgeting (DDB). It’s a two-pronged strategy:

  1. Funnelling resources towards channels that perform best.
  2. Sharpening that allocation with an emphasis on the most rewarding audience segments.

This isn’t about dethroning channel-based budgeting but amplifying its prowess. It’s about pairing channel insights with the goldmine of demographic data.

The Transformative Potential

Now, it might seem like a tough overhaul. But combining channel strategies with audience insights could unravel untapped opportunities. Think of it as having a panoramic view of the forest, while also appreciating the unique charm of each tree.

Embracing Change

As marketers in a dynamic landscape, complacency is our Achilles’ heel. We must persistently probe: “Is there a superior strategy possible?” At times, a mere recalibration, like embracing DDB, can usher in transformative outcomes.

Crafting a marketing strategy that resonates requires precision, insight, and a good grasp of numbers. As we consider a dual-faceted approach to budgeting, it’s essential to delve deep into the underlying mathematics that powers it. Here’s a breakdown:

The Basics

Imagine you have a marketing budget of $100, and you’re looking to allocate it efficiently across various channels and demographics to achieve the best possible ROI.

Let’s use:

  • Ci​: This represents the revenue share contributed by the ith channel. In essence, it’s a fraction that tells us how much of our overall revenue comes from that specific channel.
  • Dj​: This indicates the revenue share from the jth demographic. It’s a similar fraction, but this time showing us the revenue contribution from a particular age group, geographical location, or any other demographic parameter.

Both of these fractions, Ci​ and Dj​, will lie between 0 and 1. For instance, if YouTube (as a channel) contributes to 30% of your revenue, its C value would be 0.3. Similarly, if suburban 40–50 year-olds account for 40% of your revenue, its D value would be 0.4.

Crafting the Allocation

The allocation formula is: Aij​=Ci​×Dj​×100

Here, Aij​ stands for the amount from your $100 budget that should be allocated to target the jth demographic via the ith channel.

A Practical Example

Let’s take the above mentioned example to make this clearer:

Suppose:

  • YouTube (C1​) contributes to 30% of your revenue, so C1​=0.3.
  • The suburban 40–50 year-olds demographic (D2​) brings in 40% of your revenue, making D2​=0.4.

Using our formula, the budget allocation for targeting 40–50 year-olds on YouTube would be: A12 = 0.3 × 0.4 × 100 = 12$

This means $12 of your total $100 should be strategically funneled into YouTube ads targeting suburbanites between 40–50 years of age.

To illustrate the DDB approach using 5 channels and 5 demographics (needless to say, you could use this system to allocate budget across an unlimited number of demographics and channels, when required), let’s assign random contributions for each channel and demographic.

Channels — C:

  1. Google Search (C1): 0.25 (25%)
  2. Facebook (C2): 0.2 (20%)
  3. YouTube (C3): 0.3 (30%)
  4. Instagram (C4): 0.15 (15%)
  5. Twitter (C5): 0.1 (10%)

Demographics — D:

  1. D1: 0.3 (30%)
  2. D2 (40–50 year-olds living in suburban areas): 0.4 (40%)
  3. D3: 0.1 (10%)
  4. D4: 0.1 (10%)
  5. D5: 0.1 (10%)

Here are 5 major channels and 5 key demographics with their suggested budget allocation:

From this table, we discern that Google Search targeting demographic D2 should be allocated 10% of the budget, translating to $10. Similarly, a combination of YouTube and D2 should receive 12% or $12.

In Summary

This mathematical approach ensures you’re not just spreading your budget thin across all channels and demographics but are directing funds where they have the maximum potential impact. As markets evolve and customer behaviors shift, it’s crucial to keep revisiting these numbers and tweak your strategy. Being agile and informed is the key to staying ahead. Moreover, while this formula is potent in the digital realm, its principles could even prove effective in offline marketing strategies.

Embarking on the DDB journey might just be the game-changer your brand has been seeking. Ready to dive in?

10 Best Business Board Games

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10 Best Business Board Games

Becoming a better business person isn’t always about studying the market, reading books by gurus, or going back to school. Playing these 10 business board games will help you improve your skills the fun way.

BP’s Picks for Best Business Board Games for Businesses? 

What to Look for in a Business Board Game or Card Game

The best business board games can help you develop skills such as:

  • Short-term and long-term strategic planning
  • Investment and risk management
  • Asset management, financial management, and bookkeeping
  • Negotiation
  • Logistics and supply chain management
  • Strategic decision-making
  • Teamwork and leadership
  • Problem-solving

Different games focus more strongly on different aspects of business, so you should consider which game best meets your needs. Other factors to consider when picking out a business board game to play include:

  • Recommended ages
  • Number of players
  • Playing time
  • Level of complexity
  • Amount of random chance involved
  • Format (traditional game board, cards, tiles, etc.)
  • Price
  • Replay value (difficult levels, advanced rules, shifting game board)

From longtime classic money games like Monopoly to more unconventional games that emphasize strategy, there’s something on our best business board games list that’s sure to please anyone seeking to gamify professional development.


1. Best Overall Business Board Game: Catan

Widely considered to be one of the best board games, period, Catan is also a phenomenal strategy game for established and aspiring business professionals. With nearly 20,000 ratings and reviews on Amazon and a near-perfect 4.8-star rating, the worldwide popularity of this resource acquisition and trading game is undeniable.

How to Play the Game

Originally published as The Settlers of Catan, the game’s wide-ranging appeal is due, at least in part, to its beautifully simple game mechanics. You won’t need to memorize pages of complicated rules that take the fun out of playing. You will, however, need to think strategically, trade resources wisely, and make the best of the aspects of the game that result from pure chance.

You start the game as a humble but ambitious settler on the island of Catan. Dice rolls decide who gets what resources at what times, but how you use those resources to build up roads, settlements, and cities is up to you. The first player to rack up 10 victory points wins.

The gameboard that makes up the island of Catan consists of tiles and numbers that can be arranged in any order, allowing for plenty of new configurations.

What Makes This Game Great for Business

To win Catan, just as to succeed in the business world, you need to expand your position on the board and manage your resources. In the game, these resources include bricks, lumber, grain, ore, and wool. Players fight for control of these resources, and having control over one resource allows for a better advantage when it comes to trades. 

Managing your resources is an integral part of playing Catan, because different upgrades require different types and amounts of resources. For instance, without bricks and lumber, players cannot build the roads that are necessary to connect settlements.

The trading aspect of the game itself is another factor that makes Catan one of the best board games for business. Players negotiate with each other to get the resources they need without giving opponents the advantage. 

Players can utilize ports to trade their resources at a fixed ratio instead of trading with opponents. However, they will pay a higher cost to trade resources and take longer to accumulate the victory points needed to win the game.

Catan is intended for three to four players ages 10 and up, and games typically take 45 to 90 minutes. Extension packs can be purchased to build upon the base game, allowing for five players or even six players to participate. You can also purchase expansion packs for different themes, including Traders & Barbarians.


2. Most Cutthroat Business Board Game: Monopoly

Could any list of the best business board games be complete without including Monopoly? This classic game needs little introduction, with a 4.8-star rating based on more than 20,000 global ratings and reviews on Amazon. Monopoly has been entertaining (and sometimes frustrating) children and adults for more than 80 years.

How to Play the Game

In Monopoly, players roll dice to make their way around the board, buying and building up their properties. Acquiring a monopoly will help you amass the most money while forcing your opponents to run out of cash and have to mortgage or sell their properties. The last capitalist standing wins.

The rules of buying and building up property are easy to learn and fun for the whole family. Kids ages 10 and up should be able to play this board game. 

There are countless versions of this classic board game, with themes ranging from sports teams to dog breeds. Whichever version of Monopoly you choose will likely have a familiar layout, with eight groups of properties, four “railroads,” and two “utilities” to purchase.

What Makes This Game Great for Business

What makes the classic game Monopoly perfect for business is the mechanics behind it. Players fight for control of the board as they upgrade their properties. The better the property, the more the players earn. Players also are encouraged to trade with opponents, each trying to get the better end of the deal.

Monopoly also utilizes paper money, which players use to purchase and upgrade properties and pay other players. Handling paper cash makes the financial management aspect of Monopoly, including choosing when to spend and when to save, feel more like real life.

There’s a fair amount of luck involved in Monopoly due to the importance of dice rolls—and, of course, luck is a factor in business, too. But it’s not all chance. Monopoly is a strategy game, at least in some respects.

Your capital is limited, especially early on, so you must make tough decisions about what properties to buy and what properties to pass up. You have to decide when and on which properties to build houses and hotels. As the available properties become sparse and your competitors race toward putting together their own monopolies, you have to negotiate trades with other players.


What if, instead of charging your fellow players “rent” for landing on your properties, you instead competed against them to win the patronage of customers controlled by dice rolls? That’s the premise behind The Market of Alturien, a money-focused strategy game set in a medieval market.

How to Play the Game

Players find The Market of Alturien easy to learn, in part because of the familiar elements the game shares with Monopoly. The goal is to be the first to buy three prestige cards, which means you have to use your money wisely to grow your capital quickly.

In this board game, as many as six players must out-strategize each other to get customers at the market to buy their wares instead of their opponents’. Part of how you do this is by building up your trading empire, much as you would upgrade your properties in Monopoly.

Although customers’ movements are based on dice rolls, they are a lot less random than what you find in Monopoly. Each turn, the active player can roll the dice and decide which of the seven different customer figures to move based on factors like proximity to their market stalls and the customer’s level of wealth. 

Besides buying the prestige cards that can win you the game, you can opt to spend money on market stalls or investment cards that help you increase your profitability.

What Makes This Game Great for Business

The Market of Alturien is the property development and money acquisition game for players who like a little more strategy in their gameplay.

Do you roll the dice to gain patronage from the more plentiful customers at the copper level where the payoff is lower? Or do you greedily chase down the single gold customer who pays three times as much? 

In real life, this reflects the challenges businesses face in pricing and marketing their products and services. Although a higher price gives you more profits for each sale you make, setting your fees too high could mean pricing an entire swath of the market out of your customer pool.

Should you save all your funds to buy the game-winning prestige cards? Or would you be better off building up your empire to be larger and more profitable? Deciding when, how, and how much to invest in building up their companies is one of the most difficult parts of being a business owner. Play things too safe, and your profits will stagnate; take too many risks, and you could sustain serious losses. 

In The Market of Alturien, it’s up to you to find that perfect balance and to do so more effectively than your opponents.

Although a game of The Market of Alturien takes 60 to 120 minutes with two to six players, the gameplay feels fast-paced since you don’t need to totally eliminate other players’ finances or end up in a stalemate trying to make a trade. The game is easy to learn and suitable for kids ages 12 and up as well as adults.


Managing logistics is part of running a business, and there’s no better way to learn than by playing a fun game called Ticket to Ride that revolves around claiming cross-country railway routes. You don’t have to be a train enthusiast to enjoy this award-winning railway-themed strategy game.

How to Play the Game

The game board of Ticket to Ride presents a map of the continental United States, with major U.S. cities labeled and connected with train routes. Your objective is to finish the game with the most points when one player runs low on the train car pieces.

Players of Ticket to Ride may earn points when they claim one stretch of a railway route between two cities as their own, but the points gained for these achievements are relatively small. Players earn higher amounts of points by completing Destination Ticket cards, which require you to connect cities farther apart using more than one stretch of railway tracks.

To claim the path between two cities for yourself, you need to put down the required number of train car cards of the same color. If game players opt to use a turn to draw these cards, they can draw blindly from the deck or from a pool of face-up cards.

The simplicity of Ticket to Ride’s gameplay mechanics makes it a hit with children as young as 8 years old, but the complexity of the strategy required will keep adults engaged and competitive. The game can accommodate as many as five players, and the limited number of train cars per player prevents the game from dragging on past the point where it stops being fun. Most games take around 60 minutes to play.

What Makes This Game Great for Business

Besides being a blast to play, this game is a true test of strategy and adaptability, both of which are essential for business owners. In the short term, you need to gather enough trains of the same color to claim each individual route between two cities.

Since different paths are different lengths, you have to be strategic. Are you better off using two matching train cards right away to claim a short path or holding onto them long enough to collect more and claim a longer path?

Complicating this decision is the choice players have to make between drawing train cards blindly from the deck or opting for one of the face-up cards. Having this option gives players more control over the chance aspect of the game and mimics the inherent gamble in investing. Like a business owner surveying the market, you need to decide if you can create the combinations of assets you need based on the sure options available to you or whether you should take a bigger risk for the potential of a better reward. 

Accruing a few points here and there for putting down a path of trains isn’t enough to win you the game. Besides the short-term strategy of acquiring and managing train cards, you need to work toward that larger goal of completing long routes that match your destination cards. If you don’t connect the cities listed on your destination cards, you lose points instead of gaining them.

Even choosing which routes to take to complete your destination is a test of strategy. More direct routes are easier to claim, but stringing together a longer route would give you more points. If other game players claim the path you needed to complete the route to your destination, you’ve got to adapt and come up with a backup plan before it’s too late.

You also need to decide when and whether to draw additional Destination Ticket cards. Successfully completing these cards will allow you to overtake your opponents, but failing to do so could subtract enough of your points to cost you the game. 

In the game Ticket to Ride, as in business, you want to take risks that are big enough to pay off, but you don’t want to saddle your endeavors with big, poorly timed risks that drag your company down.


5. Best Game for Becoming an Expert Negotiator: I’m the Boss!

Available in both the original board game format and a simplified card game format, I’m the Boss! has more obvious ties to the corporate world. Regardless of which version you choose, you’re in for a game that’s guaranteed to test your negotiation skills.

How to Play the Game

Both versions of the game cast players as investors using the influence cards dealt to them to negotiate their stakes in a business deal. In the board game, the spaces on the board represent deals to negotiate, while in the card game, each round is a separate business deal.

Although you take turns in this game, your actions aren’t limited to what happens when it’s officially your turn. Once one player opens negotiations on a business deal, other players jump in to negotiate a deal that favors them or sabotage a deal that doesn’t.

After all players participating in any given business deal reach a final agreement, the bank pays out dividends to each player according to the shares negotiated. The goal is to have the most money by the end of the game. 

In the card game, gameplay ends after a fixed number of rounds. In the board game, dice rolls that begin as you approach the end of the game are what determine which deal is your last. This keeps players on their toes, since one late-game lackluster deal could give the win to your opponent.

What Makes This Game Great for Business

What makes I’m the Boss! such an excellent business game isn’t just a superficial theme or reliance on game currency. The gameplay itself focuses on a must-have skill for business professionals: negotiating. 

In business, you negotiate prices for materials and equipment from vendors. You negotiate compensation and contract terms when hiring in-house employees and retaining outsourced services. 

In some industries, you might negotiate the cost of your products and services directly with customers. Even in industries where haggling isn’t common, your pricing should take into account what customers would be willing to pay, which may require you to run through an informal mock negotiation in your head.

Chance plays a role in both versions of I’m the Boss, in terms of the cards dealt to you and, in the board game, the dice-roll aspect. However, your business acumen comes into play as you figure out what leverage you have and how to apply that leverage to get the best deal.

Pressing your opponents too hard could lead to backlash that costs you (literally), but being too timid a negotiator will keep you from getting ahead. Negotiation is an art, not a science. In the board game I’m the Boss!, as in real life, the strongest negotiators are able to evaluate the nuances of the business deal and their fellow negotiators’ wants, fears, and hesitations.


Another train-themed board game for business, Steam: Rails to Riches digs into supply-chain management. While Ticket to Ride is all about claiming the routes that connect cities by rail, the empire-building game Steam asks players to build train tracks and the cities they go to, upgrade your trains and your cities, and deliver goods by rail to gain money.

How to Play the Game

Steam is one of the more complicated games on our list. With a recommended starting age of 12, it’s not suitable for young kids, but teens should be able to handle it. Not only do you have a lot of tasks to balance and a financial component to manage, players’ turn order also changes based on the actions they take throughout the game.

Each turn consists of six distinct phases in which players do the following:

  1. Choose actions to take, which can include upgrading trains or destination cities
  2. Build train tracks across the map of the game board
  3. Transport goods to earn income and points
  4. Resolve income and expenses by collecting money or paying debts
  5. Determine turn order for the next turn
  6. Set up the next turn

The goal of Steam is to have the most victory points at the end of the game. Players may earn victory points for having positive income, completing links of train tracks, and transporting goods. However, you can also lose points, and your actions can sometimes award points or income to your opponent.

What Makes This Game Great for Business

As a full-scale empire-building game, Steam reflects the many demands business owners must meet to build an enterprise from the ground up. It’s not enough to worry about the power of your train and the goods you’re currently moving. You also need to focus on other aspects of the supply chain, like the tracks your trains must take to their destinations and how you can make these trips more profitable by increasing demand in these destinations.

Throughout the game, there’s a financial component that matches the real business world a lot more closely than Monopoly. Finding your way out of debt is part of the game, especially in the early turns. Later, once you’ve raised enough income to run and grow your empire without sinking into a cycle of debt, you focus on acquiring the victory points that could win you the game.

Finally, thanks to the debt aspect of the game and the income and expenses phase of gameplay that’s part of each turn, Steam provides plenty of practice bookkeeping experience. It’s also an exercise in investment strategy as you decide which one of the seven possible actions you want to take each turn, where and how to build tracks, and whether to focus on building income or acquiring victory points at any given time.


7. Best Luck-Based Business Game: Machi Koro

In Machi Koro, you’re not building a business. Instead, you’re building a whole city. This fun, fast-paced game involves its share of random chance, but it also takes strategy to develop your city from one turn to the next.

How to Play the Game

Every player in Machi Koro is the mayor of their city. To develop your city, you need money, which you get from dice rolls that activate different developments.

The game follows a cycle: Good dice rolls activate the developments you need to get money, which, in turn, allow you to buy more developments and, ultimately, landmarks. Bad dice rolls will hinder your efforts to keep developing your property, which undercuts your ability to buy developments that activate according to different dice rolls.

Your job as mayor of Machi Koro is to use the money you get from your dice rolls to make the best investments in developing your city so that you can construct four landmarks. 

Since you start out with only a wheat field and a bakery, that’s a lot to accomplish. Work your way up by purchasing developments that award you income based on the roll of the dice on your turn or other players’ turns.

What Makes This Game Great for Business

There’s a lot of overlap between what it takes to grow a business and what it takes to develop a city. In Machi Koro, the focus on development is akin to an emphasis on investment strategy. How do you manage the money you have to bring in even more cash? That’s the question players of Machi Koro have to tackle.

Although no business owner wants to hear it, luck can play a part in a company’s success or lack thereof. However, in Machi Koro, as in business, you have some opportunity to make your own luck. Although you can’t influence how the dice land, you can choose to invest in developments that maximize your dice rolls and minimize your risk of a passive turn that accomplishes little.

Should you buy an assortment of developments that ensures income no matter how the dice fall, or should you build up your ability to profit when specific numbers are rolled? That’s where the strategy aspect comes in.


8. Most Unconventional Business Board Game: Takenoko

Running a business requires balancing different priorities, goals, and strategies. Real business owners have to work toward multiple goals at a time and decide how to best use their capital, time, skills, equipment, and human resources. It’s not as simple as rolling the dice and deciding whether or not to purchase the property you landed on by chance.

That’s what makes Takenoko such a great game for business in spite of revolving around a theme that may seem, at first glance, to have little to do with the corporate world.

How to Play the Game

Takenoko sets players to the task of racking up points by meeting specific objectives as they move a giant panda and a gardener across an ever-growing board. The win goes to the player who has the most points when any one player has completed the number of objectives required to end the game.

Throughout the game, two to four players strategically build the game board out of tiles, so each individual playthrough is unique. Players get to choose how to chase their game-winning points: by building land tiles in a specified formation, growing the right patterns of different colors of bamboo to different heights, and sending the panda to eat the right combination of bamboo colors.

Objective cards in all three categories give players different options for scoring points. During each turn, players have to choose which of the turn options they want to take—and how to apply them—to work toward their objectives.

What Makes This Game Great for Business

Takenoko is a fun game that isn’t just for business buffs. While there’s no play money or property ownership, Takenoko undoubtedly gives you a taste of experiences very common in the business world. 

Working toward multiple objectives that are worth different points requires you to strategize to meet constantly moving goalposts. Just like real business owners, you need to choose how to best use your resources—in this case, irrigation channels, tile placing opportunities, and the movements of the panda and the gardener.

A Takenoko Chibis expansion set adds Miss Panda and an assortment of baby pandas to the mix. Takenoko is a board game best suited for ages 8 and up and has a gameplay time of 45 minutes, making it an excellent family game as well as a useful, if less conventional, business game.


9. Best Investment-Focused Business Board Game: Acquire

Another favorite business board game by Sid Sackson, Acquire is all about mergers, acquisitions, and stocks. In short, this money-focused game themed around hotel ownership is a great way to teach people (kids and adults alike) about financial investments.

How to Play the Game

In Acquire, players put down tiles to establish, grow, or merge hotels. You don’t just manage the expansion of your hotels on the board, though. You also buy stock in any hotel chain on the board, which gives you a cut of its income.

You win the game by having the most wealth when one hotel chain becomes too large or no more hotels on the board are able to be acquired. Player’s wealth consists of both any remaining cash and their stocks, which they sell upon completion of the game.

What Makes This Game Great for Business

Acquire’s focus on mergers and investments makes the game’s business connection obvious, but there’s more to it than that. Each player-turned-venture-capitalist must strike the right balance between liquid assets and investment income.

Although you will eventually liquidate all of your assets to arrive at a final dollar amount at the end of the game, the mix of assets you have throughout the game determines what steps you’re able to take. Running out of money too early can stop you from making the right moves, but shying away from buying stocks and shares will keep you from out-earning your competitors.

There’s also plenty of strategy involved in deciding when and where to place a hotel or merge hotel chains. Although randomly drawn tiles must be placed in specific spots on the game board, you should keep track of what’s going on around these spaces and make smart choices about when to play a tile in a space to avoid or prompt a merger.


If you’ve never played a cooperative, or co-op, board game before, the Forbidden game series by Gamewright is an excellent introduction that will test your leadership skills. Players band together to accomplish an objective and escape perilous situations.

How to Play the Game

Matt Leacock’s series of Forbidden cooperative games sends players traversing a game board made out of tiles, so no two playthroughs are quite the same. 

In Forbidden Island, you must find and salvage treasures from a rapidly sinking island. Forbidden Desert requires you to locate the pieces of a buried airship so you can escape the desert before falling prey to sandstorms or running out of water. The third game in the series, Forbidden Sky, requires players to connect the circuit needed to successfully launch a rocket from a platform in the sky without being electrocuted or blown away by a storm. 

Each game requires players in different roles with unique abilities to play cards and interact with the game board to accomplish the group objective. However, the game itself is trying to take players out with cards that reduce their health and derail their progress. 

Everyone loses if any one player dies in the game or if a catastrophic event occurs, like the island’s helipad going under.

Each game has options for different difficulty levels, making it fun for the whole family (ages 10 and up) but also challenging enough for an all-grownups game night.

What Makes This Game Great for Business

The co-op aspect of the game is excellent for testing and cultivating your management skills. Like real workers in your company, the adventurers on your team each have their own strengths and weaknesses. 

The mix of roles and abilities among the players on your team should influence how you play the game, just as the strategies you use in business should draw on your assets and the strengths of your team. If players fail to work together, you lose the game, just as your company suffers when its stakeholders and employees aren’t able to work as a team.

Whether you play this game as a team-building experience with your executive officers or as just a fun way to experiment with leadership strategies, there’s a lot to love about this popular game series. 


Conclusion

It doesn’t matter whether you’re a chief executive with years of management experience or a recent college graduate working your way up the ladder, practicing your skills through strategy games will help you become more proficient in the competencies that matter most in the corporate world.

15 Traits Employers Look for in New Hires

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15 Traits Employers Look for in New Hires

Looking for a new job can be a real pain but if you don’t know what it is that employers are looking for in new hires; the whole process can drag on forever. If you know what employers want; you can use your CV, cover letter and interview to show how you are suited for the job and make the hiring decision much easier on your future employer. So here are 15 traits that employers look for in hew hires:

Reliability

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It really shouldn’t come as a surprise but employers want people who turn up to work on time, turn up every day and get the job done. If you can show that you can be available when you’re needed, turn up and deliver results – you’re already ahead of much of the rest of the pack. This isn’t rocket science – it’s employment 101.

Team Work

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The downside of the modern office is that there are very few jobs that you do in complete isolation; this is true even if you’re working with the Ebola virus. So, you need to show that you can get on with other people and work with them to achieve the objectives of the business. If you haven’t worked in an office before – you can always talk about school or college or even sporting teams that you’ve been part of.

Self-Awareness

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Employers expect you to know what you’re doing with your life. If you haven’t got a clue; they’re going to seriously doubt that you’re capable of knowing what to do at work. So make sure you have a clear (and short) story about where you have been and where you expect to be heading in life and in your career.

Presentation Skills

Speaker at Business Conference and Presentation. Audience at the conference hall.

No, it’s not wearing a suit (though that won’t hurt at most interviews) but rather the ability to deliver a presentation. That’s all of a presentation including the visual components. Almost every employee will eventually have to deliver a presentation (often to management but it could be to clients or co-workers or suppliers too); doing the job well is important.

Decisiveness

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Deliberating over an issue isn’t a bad thing but there comes a moment in every decision’s life when you need to pick a course of action and stay with it. Employers will want to understand your decision making process not just see that you’re capable of making a decision – they want to know how you weigh up different aspects of a decision before going ahead with one.

Problem Solving

Problem-Solving

If you have to pick one single trait out of this list to demonstrate – show off your problem solving skills. At the end of the day; every single employee is a problem solver. They’re expected to tackle the things that life throws at them and still deliver on their work objectives. It’s a good idea to have a problem solving process that you can share with a potential employer so they can examine the quality of your approach too.

Sales Skills

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It’s not just salespeople that need sales skills. Much of the work you do will involve persuading other people to either help you or to convince someone to fund the work you do. If you can’t sell, you’re going to find it tough going to make your priorities business priorities. The better you can sell yourself; the better your chances at interview. There are plenty of free resources online to teach you how to sell if you don’t know where to start.

Computer Skills

businessman training business executives in a classroom

Unless you’re a programmer; you’re unlikely to need to be able to demonstrate coding skills but employers can and do expect you to have the basics of computer usage down pat. That means the basic Microsoft (or other office) applications and an understanding of web and e-mail use. It’s easy to highlight these skills on your resume in a separate section for computing skills too.

Coaching Skills

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If you can help a colleague get over a hurdle and moving forwards with their own work; you’re adding substantial value. Managers are often working flat out and find it difficult, if not impossible, to give everyone in the team the attention they may need – if you can take some of the workload of their plate; they’ll love you for it. Coaching co-workers can be a really handy string to your bow at work.

Cultural Conformity

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You should always research a company’s culture before you go to interview. The people who fit in best in a staid, corporate environment (such as a merchant bank) aren’t going to be comfortable in an ultra-casual environment (as found in many Silicon Valley companies) and vice-versa. You’re going to be expected to fit in at work and the company culture is usually pervasive and pretty rigid.

Report Writing

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It may be dull and tedious but it’s an absolute essential component of many roles; the ability to craft readable and valuable reports is a bit of an art form and if you can show that you’re a whizz in this area – your would- be manager is likely to love you for it. Doing a good job is one thing; being able to communicate that fact to the rest of the business is another –higher- art.

Previous Success

track

Employers prefer safe bets in their recruitment processes. That’s because it cost a ton of money to recruit and train an employee and it’s easier to do this with someone who can show a proven track record of success. It’s important to remember that this doesn’t have to have been in the workplace for those new to work; you just have to be able to demonstrate that you had an objective and you achieved it (and ideally that you learned from the process of doing so).

Analytical Capacity

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Data at work is plentiful but people who can analyze that data and make it useful are often in short supply. If you can demonstrate quantitative and/or qualitative analytical skills; you’re going to be more attractive to a would-be employer. This is the age of big data and being able to put “2 and 2” together to make 4 is going to be more and more important moving forward into the future.

Technical Job Knowledge

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This is really important. If you don’t have direct experience of doing a similar role; you need to demonstrate in your cover letter, resume and interview how you have developed the technical knowledge to do the job anyway. Employers rarely, if ever, hire people at random for roles – they expect you to have the bare minimum skill level to get the job done before they extend a job offer.

Communication Skills

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Your application, interview and onboarding process are all a test of your communication skills. The better you communicate with others; the better you will perform in the workplace (or so the theory goes). You need to be able to show these skills clearly throughout your approach to a new employer and the better you do so; the more likely you are to land the role of your dreams.