Connecting with Investors, the AI Revolution, 4 Personas of Female Entrepreneurs and Other Things Entrepreneurs Need to Know
Smallbizdaily | April 15, 2019
18 Things Small Business Owners Need to Know
By Rieva Lesonsky
1—What to Know Before You Buy a Website
Buying an existing website can get your business off to a great start, since it likely comes with a name and a following. If you’re lucky, it will also already have a strong backlink profile making it more popular and authoritative than if you built a site from scratch. This all helps you earn money from the website.
But, before actually taking the plunge and deciding to buy a site, there are 10 important things you need to factor in. Once you have clarified all these details, you’ll have the information you need to decide.
Check out the infographic from StartBloggingOnline outlining the data you need to know before buying a website.
2—How to be Pitch Perfect
For even the most stoic entrepreneur, facing a panel of potential investors can be like walking onto the set of Dragon’s Den. But a new study, co-authored by Cass Business School academic Dr. Ruben van Werven, suggests there are ways to connect with even the most imposing investors.
The study analyzed the language used by entrepreneurs at an Amsterdam-based business incubator and determined four interconnected language strategies found in the most influential pitches.
Let the audience complete the picture of the future: The study found entrepreneurs who successfully influenced their audience often implied a point without actually making it when talking about the future; they encouraged their audience to fill in the blanks.
“The audience becomes engaged, they start becoming a part of the argument, they actually even complete it, so they’re more likely to be convinced by it,” Dr. van Werven says.
He continues, “Entrepreneurs would say ‘In my market, globally, $90 billion is earned every single year’ and that’s all they said. In itself that doesn’t mean anything and has no implications for the success of their business, but what they’re hoping is investors would think ‘Wow, that’s a big number. If this company is going to do well they might become very profitable’.”
Present the imagined future as a reality: The study found entrepreneurs whose pitches are well received by investors most often present their ideas as if they already exist, even when the venture is only in the idea phase. The researchers’ findings suggest that by presenting an idea or venture in the present tense entrepreneurs take away its sense of novelty and remove the audience’s impression that it is yet to exist.
“In our paper,” Dr. van Werven says, “we call it a logical time gap, which basically refers to the idea that if someone pitches an idea to you and you start thinking about how it plays out in the future, then these things don’t match because you don’t know what the future looks like. But if you talk about the future in terms of the present, both the evidence and the claim are in the same time and space. This can make the audience feel more secure—it helps them imagine that the idea being pitched is real.”
Dr. van Werven says these first two strategies are important when pitching an idea because they help entrepreneurs sell something that does not actually exist. But to avoid being perceived as vague, influential entrepreneurs also incorporate a clear understanding of the current situation into their pitches and back them up with data, as detailed in the third and fourth linguistic strategies.
Be explicit about the current situation: Most of the entrepreneurs studied made explicit claims about the present state of their target market and established links between their idea and its benefits for that market. Dr. van Werven says presenting information about the current state of affairs shows knowledge and expertise and increases the chances of the idea resonating with the audience. “If you’re really clear and explicit about the market, the customers and any current problems or gaps then your audience will believe that you’re an expert and that you’ve got it covered.”
Support your idea with data: All the influential pitches analyzed in the study used selective data to support their arguments, and often changed the data they selected to support their idea more favorably.
Dr. van Werven says, “For example, a gaming entrepreneur one week said there were 300 million gamers like the ones he meant to address, then the next week he said there were 1.2 billion of them. These numbers were both taken from research reports but, in the second instance, he picked the data that made his argument most convincing.”
According to Dr. van Werven the language strategies outlined in the study could be used by anyone pitching a new project, whether an entrepreneur pursuing investment, a manager proposing a new product, or an architect selling a new design, the language used when pitching the idea can be key to success.
He says, “It’s important to note that none of these strategies are about lying—it’s just imagining that things that are yet to happen are already real and then being selective in the data you use to support your points.”
3—The AI Revolution
The world of artificial intelligence is a fascinating one, filled with promise for small businesses. What may have once seemed like science fiction is reality, impacting all of us.
Check out these stats and the infographic below from techjury:
- By 2025, the global AI market will likely hit nearly $60 billion; in 2016 it was $1.4 billion
- Global GDP will grow by $15.7 trillion by 2030 thanks to AI
- AI can increase business productivity by 40%
- AI startups grew 14 times over the last two decades
- Investment in AI startups grew 6 times since 2000
- Already 77% of the devices we use feature some kind of AI
- Cyborg technology will help us overcome physical and cognitive impairments
- Google analysts believe that in 2020, robots will be smart enough to mimic complex human behavior like jokes and flirting
4—SMBs Will Leave MSPs Over Cybersecurity
Cybersecurity demands of SMBs have become both a major risk and revenue opportunity to managed service providers (MSPs). This, according to research conducted by Vanson Bourne and commissioned by Continuum®, the proactive platform that integrates intelligent software with expert services for MSPs to scale dynamically and protect their clients.
Underserved and Unprepared: The State of SMB Cyber Security in 2019 draws on data collected in 2019 from SMBs across the United States, United Kingdom, France, Germany and Belgium. In addition to the risks for MSPs, the report also highlights the significant revenue opportunity for providers that deliver the cybersecurity services and solutions SMBs need to protect their businesses.
Vanson Bourne’s research in the U.S. found MSPs are at risk of losing their SMB clients if they don’t provide competitive, comprehensive solutions to them. In fact, 89% of SMBs surveyed would consider hiring a new MSP if they offered the right cybersecurity solution, and 24% has already changed MSPs in the aftermath of a cyberattack.
To make matters more challenging for MSPs, the report indicates clients will hold providers accountable for security issues even if their MSP is not currently providing them with cybersecurity solutions. Three in four SMBs that do not currently outsource cybersecurity would still hold their providers accountable in the event of a cyberattack
MSPs that attempt to compete on price are likely to find this will not be enough to retain clients who are concerned about cybersecurity, since SMBs planning to change providers are willing to pay 24% more on average for the right cybersecurity offering and 47% would pay at least 20% more for the right cybersecurity solution from a new provider.
“We have seen first-hand the number-one reason MSPs lose business today is over concerns about cybersecurity, and this data now proves it,” says Michael George, CEO, Continuum. Providers across North America and Europe should heed the clear warning presented by these findings. Businesses expect to be protected by their MSPs and are ready to pay more for that protection—whether from their existing MSP, or by switching to a provider that promises a better solution.”
While this research highlights the risks for MSPs that don’t meet the security demands of SMBs, it also paints an optimistic picture for those MSPs that do offer and sell effective cybersecurity services. SMBs recognize the need for cybersecurity and are ready to work with and invest more with MSPs to get the right levels of protection: 77% of SMBs anticipate at least half of their cybersecurity needs will be outsourced in the next five years, and 78% are planning to invest more in cybersecurity in the next 12 months. What’s more, SMBs say they are willing to pay 27% more, on average, than they currently pay for the right cybersecurity offering.
“SMBs are not just looking for cybersecurity protections, they are ready to invest more to protect their businesses,” says Brian Downey, Senior Director, Security Product Management at Continuum. “It’s clear from the report there is an economic opportunity for MSPs that get cybersecurity right, as they stand to not only win business from providers that don’t, but also increase their revenue streams from their SMB clients and have a better chance of retaining their existing client base. If MSPs can deliver the right cybersecurity solutions to their end-clients, they will hold the competitive advantage in the SMB market.”
Underserved and Unprepared: The State of SMB Cyber Security in 2019 is available here for download.
5—New Credit Card with Benefits
Bank of America just released a new business credit card, the Bank of America Business Advantage Cash Rewards credit card. It gives cardholders the flexibility to choose how they earn and redeem rewards to align with their changing business priorities and needs.
Highlights of the card
Entrepreneurs will be able to choose how they earn their 3% cash back from one of six popular spending categories: gas stations (the default selection), office supply stores, travel, TV/telecom & wireless, computer services or business consulting services. Clients will earn 2% cash back on dining and unlimited 1% cash back on all other purchases.
Business Advantage Relationship Rewards members will receive an additional credit card rewards bonus of 25%- 75% on every purchase. This means the cash back reward on the 3% choice category could go up to 5.25%; the 2% reward on dining could go up to 3.5%, and the unlimited 1% reward for all other purchases could go up to 1.75%.
How it works
Cardholders can easily change the 3% choice category for future purchases once each calendar month in their Mobile Banking app or Online Banking.
Cardholders can view a snapshot of prior spending in each 3% category to choose the right option for their spending habits.
Clients can earn 3% and 2% cash back on the first $50,000 in combined choice category/dining purchases each calendar year, then will be able to earn an unlimited 1% thereafter.
Cardholders can redeem their cash rewards for any amount and at any time as a statement credit, or into an eligible Bank of America deposit account, a Merrill Cash Management Account® (CMA®) or Working Capital Management Account® (WCMA®).
Cash rewards don’t expire.
The card has no annual fee.
Eligible existing Business Advantage Cash Rewards clients (cardholders in good standing, who held the card prior to April 8) can upgrade to the new Cash Rewards program by calling the phone number listed on the back of their card.
Earn even more with Business Advantage Relationship Rewards
The Business Advantage Relationship Rewards program provides a way for Bank of America small business clients to earn even more, with up to a 75% rewards bonus on every purchase.
Eligible Bank of America and Merrill small business clients may enroll in the Business Advantage Relationship Rewards program at no cost. To qualify, clients need an active eligible Bank of America business checking account and a 3-month average, combined daily balance of at least $20,000 in qualifying Bank of America business deposit accounts and/or Merrill business investment accounts. There are no fees to join or participate in Relationship Rewards.
There are three tiers in the Business Advantage Relationship Rewards program. A client’s tier is based on the 3-month average combined balances in their qualifying Bank of America business deposit and/or Merrill business investment accounts. Once a client is enrolled in the program, they will be moved up automatically when their business balances qualify them for the next rewards tier.
Cash Rewards card bonuses for Business Advantage Relationship Rewards members are 25% (Gold tier), 50% (Platinum tier) and 75% (Platinum Honors tier). Business Advantage Relationship Rewards members will earn up to 5.25% cash back on purchases in their Cash Rewards choice category, up to 3.5% on dining and up to 1.75% on all other purchases.
Clients interested in enrolling or learning more about Relationship Rewards may visit a Bank of America financial center, call (888) 287-4637 or click here.
Check the infographic below for more information.
6—Overtime Pay Rules Changing?
With the unveiling of the U.S. Department of Labor’s new overtime pay requirements, businesses are rushing to stay on top of any upcoming changes in the event of a Final Rule. Over one million new workers stand to be made eligible for overtime pay with the proposed regulations, raising the overtime salary threshold from under $24,000 to under $35,000—which has some employers rattled.
The potential impacts on employee compensation, corporate policies, and business costs would be substantial—but there’s no need to panic. Businesses can still manage high profile changes in legislation with these five best practices worth implementing now from Lakshmi Raj, cofounder and Co-CEO of Replicon:
- Stay ahead of the curve by analyzing the changes in detail. Know who’s affected and come up with a plan of action.
- Open communication lines with everyone—both those affected and those who will remain the same. Stay transparent.
- Understand how your employees spend working hours by tracking their time—including exempt workers. This provides a wealth of information to help ease the transition and stay informed moving forward.
- Define employee roles based on the actual duties performed: Do your company’s definitions of salaried and exempt make sense as they stand now?
- Embrace change management and ease the way with designated compliance gatekeepers.
7—Are IoT Devices a Threat to Your Business?
According to a recent survey, smart speakers aka digital assistants were one of this year’s most wanted tech gifts. Many employees returned to work last January with their new devices in tow—not thinking twice about hooking their IoT gadgets to the company Wi-Fi—unknowingly causing potential liabilities for their organization.
According to research from GetApp Lab:
- 58% of small businesses do not have a BYOD policy.
- When active, smart speakers record everything spoken in their presence it puts businesses and their proprietary information at risk
- Smart TVs in boardrooms can employ ACR (automatic content recognition) leading to excessive data collection
- Smartwatches and wearables can leave a company vulnerable to location exposure and data leakage
Gartner predicts 80% of computing tasks will take place on mobile devices by 2020. In a future where smart devices will be ubiquitous, Get App Lab’s content analyst Zach Capers delves into the vulnerabilities that smart devices pose to SMBs, and how to best develop risk mitigation plans. Take a look at Zach’s forecasts for IoT and BYOD.
8—4 Personas of Female Entrepreneurs
In an effort to better understand the evolving face of female entrepreneurship, Northwestern Mutual conducted research for the report, The W Suite: The Four Personas of Female Entrepreneurship, to enhance its client service offerings in the industry.
Today, businesses owned and operated by women no longer fit into a single mold. Motivated and informed, women are starting companies at higher rates than ever before, with the number of women-owned businesses increasing by 45% from 2007 to 2016.
Four main personas emerged from the findings of the report with varying attributes and aspirations among female entrepreneurs: Dreamers and Doers, Family Legacy Entrepreneurs, Passionistas and Lemonaders. They are defined as follows:
Dreamers & Doers are drawn to the attractiveness of an idea; they see possibilities in the market they want to expand upon. This persona mainly consists of Caucasian women, who are also more likely to be single and unrestricted by family responsibilities. Dreamers & Doers also tend to be older.
Family Legacy Entrepreneurs have inherited the business or want to provide employment to family members. Asian and Hispanic respondents have close family ties and thus are more likely to run a family legacy business. These women are also more likely to be married and caring for family members.
Passionistas do what they want, where they want. They are not necessarily focused on business growth but ultimately aim to support the lifestyles they desire. This persona is predominantly Caucasian women, and many are likely to be caring for family members. These women tend to have created their business as a way to achieve a better work-life balance.
Lemonaders created their businesses out of necessity, many saying they could not find quality employment or were unemployed when they first started. Entrepreneurship was a viable option for them, and some of their companies grew to a substantial size. These entrepreneurs are often women of color and younger than other female business owners.
The study also found women with successful businesses, making over $1 million in revenue per year, were more likely to have created a financial plan with the help of an advisor. Women entrepreneurs in general were more likely to have met with a financial advisor than men, showing their willingness to take the preparatory steps when launching their companies.
Further underpinning the trend, female entrepreneurs were almost 10% more likely to revisit their financial plan regularly, noting that active, ongoing planning was very important in order to achieve their business goals. Since many female entrepreneurs are supporting family members, they find it important to create a safety net and insure the companies they have created. Actively financially planning helps them create the security they need and combine their personal goals with their business objectives.
Working with a trusted financial advisor can help start successful businesses and keep them generating revenue for years to come. Covering budgeting, insurance needs and much more, a professional’s help can be the difference in creating a profitable enterprise.
Other key survey findings
- Women are more likely to start companies that make a social impact (43%) than men (33%).
- Women are less likely to be the ultimate decision maker in their investment decisions (51%) compared to men (59%).
- More likely to have immigrated, Latina entrepreneurs were more likely to perceive themselves as creative, willing to take risks and open to new ideas.
- Female entrepreneurs are more likely to let employees have flexible schedules (37%) compared to male entrepreneurs (31%).
9—Are You Charging for Your Mobile App?
Double the number of small businesses with more than 50 employees charge for apps compared to small businesses with fewer than 50 employees, according to a new survey from Visual Objects, a portfolio website that showcases work from top creative firms from around the world.
Of small businesses with more than 50 employees 63% charge for their app, while only 35% of companies with fewer than 50 employees do. This means 42% of small businesses with mobile apps monetize their app by charging users.
Since it takes significant resources to successfully raise awareness about why an app is worth paying for amidst the array of free apps already available in app stores, small businesses with more employees have more opportunities to market their apps and motivate people to pay for them.
Small businesses prefer to monetize their apps through in-app purchases: Small businesses pursue two main types of app monetization: in-app purchases and subscriptions and paid downloads.
- 34% of small businesses charge for in-app purchases or subscriptions, while 25% charge users a fee to download an app.
Apps can provide an additional channel of revenue for a business, but monetization can be difficult to implement. “It’s really hard to get people to pay for apps,” says Joana Kelly, chief operating officer of Small Planet. “There’s something about being asked to pay a dollar for an app that is this big barrier. If it’s free to download, then people are more willing to try the app out.”
There are five models of app monetization: free, freemium, subscription, paid, and paymium.
Although the free model doesn’t directly earn revenue, it can be one of the most rewarding methods if the app is popular enough to attract advertisers.
- Nearly half of small businesses collect user data from apps: Nearly half of small businesses with apps collect their users’ data, including contact information (47%), location (46%), and payment details (35%). User data helps businesses improve their app services and provides important insights for advertisers.
While apps can make money through in-app advertisements, some small businesses do not believe in selling user information. “Offering ads inside the app puts us in a potential conflict of interest with our users,” says Omer Yarkowich, vice president of product and marketing at MyPermissions. “In a way, to optimize the revenue from the ads, we would need to leverage what we know of our users, and that goes against our values and mission statement.”
Small businesses can, instead, use data from their apps to analyze what customers value and want in their experience. User data is not only used to create targeted ads, but also to indicate where an app can grow.
You can read the full report here.
10—Do Your Remote Workers Pose a Security Threat?
Remote work is rapidly becoming commonplace, with nearly 70% of employees globally working remotely at least once a week. But are you confident about (or even aware of) the security risk these workers pose to your business?
According to a study from OpenVPN, 93% of organizations have a remote work security policy in place, and 90% offer security training for remote workers. Despite this security training, 36% of businesses have experienced a security incident because of a remote worker’s actions.
You—or your HR people need to be aware of and work to mitigate this through regular training
The infographic from Open VPN explains more. See it here.
11—Talent Management Software Buyers Choose Cost Over Experience
Capterra, a leading online resource for business software buyers, released findings from its latest survey of SMB leaders across vertical markets to understand how they’re choosing talent management solutions and their implications on businesses. Capterra’s Talent Management Industry User Research Report shows price heavily impacts talent management solution decisions, surpassing ease of use as a key factor across SMBs. This focus on price creates a disconnect for small business leaders trying to choose the “right” software for their organization, as they’re using low price as the main driver when buying software.
“Understanding how buyers successfully leverage talent management solutions can help small business leaders make wise decisions based on their company’s size, resources, and software needs,” says Brian Westfall, principal analyst at Capterra and the survey’s lead analyst. “While low cost may seem like the most important aspect of software, choosing a solution solely based on price can create more issues than most SMBs are prepared to handle.”
Small businesses run the risk of choosing a system that doesn’t meet their needs, ignoring the potential costs associated with picking the “wrong” software and eventually creating the need to search for and implement new solutions. This lack of knowledge is reflected in one key survey finding: 45% of respondents spent more than what they expected, while another 45% spent less. For SMBs operating on razor-thin margins, any unnecessary use of budget or resources could be detrimental to the business overall.
- Importance of price:Price has surpassed ease of use as the second most important factor behind functionality in talent management software purchase decisions for all SMBs and is the primary factor for the smallest SMBs.
- Software search expectation vs. reality:45% of users took 10 months or more to research and choose their talent management software, despite only 18% expecting the search to take that long.
- Key software features: Succession planning and 360-degree feedback are themost ignored talent management software features by those who have them, and the most desired by those who don’t.
SMBs can avoid making potentially harmful software purchase decisions, while keeping bottom-lines in check and by making careful technology choices—not just cost-conscious ones. Capterra’s survey offers key takeaways on this topic, exploring data on the shift in decision-making, tips for choosing the right solution, and the most important software features.
These additional key insights include:
Prioritizing price in talent management software selection: While budget-strapped SMBs are increasingly purchasing talent management software, price significantly impacts spending decisions—an issue that can cause talent management software implementation to backfire. The cost of choosing software that isn’t a fit for their organization or lacks the features necessary to meet HR needs could impact meeting business goals and retaining and gaining new talent.
The number of small businesses implementing talent management software has increased over the past ten years as vendors began creating products geared toward smaller buyers, focusing on affordability and ease of use.
Expectations vs. reality: Capterra’s survey found 80% of users are satisfied with their talent management software. Additional functionality correlates with additional cost, but a wide array of features is often necessary for talent management software. Although the smallest SMBs surveyed consider the price of software above functionality, cutting corners on functionality for a better price has led to dissatisfaction. In fact, 62% of talent management software users who switched talent management software providers did so due to lack of features.
Using talent management software effectively: For 60% of users, the search for talent management software took six months or less to complete from initial research to final purchase. For 45%, it took 10 months or more to research and choose a talent management software. This proves the importance of taking time to understand the company’s needs before beginning the search and using online reviews to identify the “right” option. Online reviews are important in the buyer’s journey for gaining information and understanding functionalities and choices.
Businesses use talent management software for core HR needs such as personnel tracking, time and attendance, payroll, and recruiting. HR personnel can spend as much as three-fourths of their time on these administrative tasks, so using software to automate this work is a top priority, as it frees up their time and energy to focus on strategy and employee experience—key to remaining competitive in the job market.
Small businesses today are forced to do more with less but opting for the less expensive software solution isn’t always the most effective option. For more information and tips for business leaders, view the full survey results in this blog post, Talent Management Industry User Research Report.
12—Apple to Launch Credit Card
Guest post by Ruomeng Wang, research and analysis manager, IHS Markit
Apple has partnered with Mastercard and Goldman Sachs to launch Apple Card this summer. Consumers can apply for the credit card through the Wallet App on their iPhones. Once they’ve been approved, customers will receive a physical card issued by Goldman Sachs. Payments will be processed by MasterCard.
Apple Card will be linked to Apple Pay, and customers will be able to use it for online, in-app and in-store purchases. The card offers 2% daily cash back, as well as 3% daily cash back on all purchases made directly with Apple, including at Apple Stores, on the App Store and for Apple services.
According to IHS Markit, the addressable devices for Apple Pay in the U.S. will increase to 175 million by the end of 2019.
The analysis: Apple Card will consolidate payments offerings, but challenges still lie ahead.
Apple Card will initially launch in the United States and will only be available to iPhone users who have enabled Apple Pay, so its adoption will largely rely on the Apple Pay customer base. The launch of Apple Card will help Apple Pay reach and acquire new customers, while offering additional payments flexibility for existing Apple Pay users.
To encourage customers to onboard, Apple Card offers the card with no annual fees, lower interest rates and other incentives. However, existing Apple Pay users are a group with high credit card penetration, so there will be challenges when it comes to convincing them to add another credit card without providing competitive incentives. Compared to other credit cards, Apple’s incentives are relatively limited. For instance, the Amazon Credit Card offers 5% cash back for Amazon products, along with a $50 gift card when people sign up.
Security is a unique selling point for Apple Card: With comparatively limited incentives, Apple Card may turn to security and monitoring features, to add value and differentiate this card from others. Apple Card’s titanium version has no visible numbers, which protects the card from unwarranted use if it’s lost or stolen. Apple Card will also integrate with Apple Maps, providing users with more meaningful transaction details on their payment summaries. Such detail facilitates the monitoring of spending, allowing users to more easily track their purchasing activity.
Apple Card to strengthen Apple’s ecosystem
The current direction for payments and consumer banking companies is to move away from payments-only services. For example, Alipay, WeChat and other over-the-top (OTT) companies, as well as challenger banks Revolut and Monzo, are all looking at ways to diversify their services. Apple has adopted a different strategy, with payments focused on the Apple Card, which highlights Apple’s intention to strengthen its own ecosystem, instead of getting involved in wider financial service offerings.
13—Work Habits: How Does Your Industry Stack Up?
Is there a secret to productivity? Will drinking more coffee help you meet those looming deadlines? Does going to the gym hold the key to success? Do some parts of the country know the key to being more productive at work?
A new study by specialist insurer Hiscox is highlighting the most common habits by industry and how it connects to success and productivity.
- IT: 62% of IT employees go to the gym at least once a week; 11% go daily.
- Architecture, Engineering and Building: 2 in 3 employees are caffeine-dependent, drinking at least one cup a day.
- Legal: Legal professionals are the most rested with 34% of them sleeping an average of 7 hours on week nights.
Read more about this on their blog.
14—Do You Want to be a Real Estate Entrepreneur?
There’s no question there’s a lot of money to be made from investing in and managing real estate. Here’s a great infographic from Buttonwood Property Management, telling you what you need to know.
15—Social Media Users View Facebook Negatively but Still Use the Platform
Following the Cambridge Analytica data breach, 44% of social media users still have a negative opinion of Facebook, according to a new survey from The Manifest, a business news and how-to website.
In March 2018, news broke that political consulting firm Cambridge Analytica acquired and used 50 million Facebook users’ personal data without their express permission. Facebook lost some consumer trust then, and it hasn’t gained it all back. However, that doesn’t mean the people are deterred from using the platform—just 37% use Facebook less often than they did before the data breach.
Older generations, who depend more on Facebook more than younger generations (who use a variety of platforms), were less likely to decrease their Facebook, compared to 41% of millennials, 37% of Generation Xers and 24% of baby boomers.
You can read the full report here.
16—Keep Track of Project Profitability
QuickBooks now has a new job costing functionality that allows small businesses and their accounting partners to keep a near real-time eye on the profitability of individual projects.
Those in project-based businesses (construction, landscaping or interior design, etc.) understand how profitability can be difficult to manage, especially if job costs run over. And this happens often because these SMBs provide an estimate to their clients upfront, before they truly know the cost of labor, supplies and other expenses they may incur.
QuickBooks says its new job costing functionality and refreshed “Projects” tab provides a solution they know “customers are hungry for, as this update was highly requested from the QuickBooks current user base.”
You can read more about it here.
17—Save Time & Money with Your Own Color Label Printer
If you make a private label product, you can save time and money printing your own labels. , Primera’s LX500 Color Label Printer eliminates waste and lead times. Having your own label printer makes sure you don’t order (and pay for) more labels than you need—and there’s no waiting for delivery from an outside supplier.
The Primera LX500 lets you print text, graphics, color alerts, and logos on water-resistant material, along with high-resolution linear and 2D barcodes in seconds.
18—The Faster, Easier, and Less-Complicated Way to Create Images, Gifs, and Videos
GecoWeb Ltd., a Romania-based web designing and web development startup, recently launched Pixteller, an easy-to-use design and animation tool that enables anyone to create images, GIFs, and videos. Until now, creating animated content and designs for marketers, bloggers, and content creators has been hard—even for designers. Moreover, most of the animated content created has been recorded video. With PixTeller, users can animate a single element like a photo, text, shape, and illustrator in unlimited ways. You can create animated content for social media posts, digital ads, websites, blogs, banners, covers & headers, presentations, and more.
Creating graphics is a time-demanding process. And there’s been a lack of easy-to-use tools to make GIFs & short videos, forcing businesses to use on-demand services, which are manual and expensive.
“We designed the first Animation Editor in Cloud that allows you to create stunning animated designs, short videos, and GIFs, even if you have no design knowledge or the budget to hire someone else,” says Alex Roznovat, the Founder & CEO of PixTeller. “Because GIFs and videos are 6 times more likely to be liked, shared, retweeted than a photo on social media, PixTeller animated designs have become a gold mine and a game-changer for any content creator or online marketer, helping them to triple their conversion rates.”
- AI & ML-based PixBot: Automatically create images & video layouts you can customize.
- 1,340,000+ images: Pick any image template and personalize it
- 216+ animations: Choose any pre-designed animated template and customize easily to create GIFs & videos
- 1,50,000+ photos: Search & use beautiful, free photos and illustrations. You can upload your own photos.
- 1,00,000+ shapes: Search the best shape that perfectly fits on your design
- Gradient colors: Select from solid, linear, and radial gradients and create transparent backgrounds.
- Animation timeline: Create quick animations using the PixTeller Editor Timeline.
PixTeller offers a commitment-free trial of the Design Editor. There are also video tutorials available on the website.
Original Source: https://www.smallbizdaily.com/
Author: Rieva Lesonsky