Entrepreneurs Can Maximize Their Business With These Data Analytics Strategies

Data analytics can tell business owners a lot about their customers, their marketing strategies, and their own products and inventory, but only if they’re used correctly. Having the right analytics tools can go a long way toward helping you map out goals for the coming months or even years, so it’s essential to look for the best possible resources and come up with a plan for integrating them with your daily practices. In the Tech Pit is a great place to start when you’re looking for the latest tech tools; here are a few tips on how to make data analytics a regular part of your operations.

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Boost your efficiency

When it comes to business practices, it’s essential to make sure that everything is running as smoothly as possible. Not only does this prevent mistakes and other issues, but ensuring efficiency will save your business money. Business Process Management can help you automate workflows within sales, accounting, and manufacturing by analyzing how all the moving parts work together in order to streamline them. As with any BPM framework, it’s important to monitor its effectiveness consistently and make changes as needed. Read more about how automation tools work with BPM to get an idea of the processes.

Manage your money

Not only can analytics save your business money by creating efficiency, it can help you manage that money more effectively by giving you insights into your cash flow and other financial data. The right accounting software can even give you detailed information on your inventory, provide invoicing tools, and help you manage profit and loss and balance sheet reports. Learn more about cloud accounting software and how they can help with tasks like figuring out which projects are profitable and which ones may need to be reconsidered.

Plan your marketing budget

Another aspect of your finances that needs to be carefully considered is the marketing budget, which means it’s crucial to figure out where to focus your spending. This can be challenging due to the sheer number of marketing options available, but data analytics can show you whether you’re on the right track. Utilizing different tools for different data can be useful depending on the information you’re looking to access, so think about what your goals are. Do you want to find out how many conversions your website has daily? Which content is getting the most attention? Look for resources that will parse out the most important data for your needs so you don’t have to spend a lot of time going through that information.

Track your customers’ experiences

As with any small business, customers are a priority, so once you know what’s working where your marketing and finances are concerned, it’s a good idea to focus some time on learning more about your customers’ experiences. Tracking their movement across your business–such as where they’re spending the most time, whether they had a negative experience with a customer service representative, or whether they’re moving on to one of your competitors–can help you figure out what your business needs to work on and what you can do to win that customer back should they decide to leave. Not only that, analytics can help you choose the best ways to engage with those customers in order to create a personalized experience.

Utilizing data analytics can be instrumental in helping you maximize your business practices, so think about what your goals are and do some research to find out more about the different tools you can use. With the right resources, you can ensure that your customers, finances, and daily operations are in good shape.

Need to get in touch with the team at In the Tech Pit? Reach out today.

Outsource Tasks To Improve Small Business Management

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As a small business owner, you likely wear many hats and have little time to spare. But what if there were some tasks you could outsource to free up your time? When they hear the word “outsourcing,” many people’s first thought is that they’re sending work to another country, but it can simply mean hiring someone else to do a task that’s not in your area of expertise. Here are some tech-related tasks to outsource to improve your small business management, presented to you below by In The Tech Pit.

Web Design and Development

If you don’t have the time or expertise to design and develop a website for your small business, consider outsourcing this task. A professional web designer can create a website that looks great and functions well, and they can also help you choose the right hosting plan and domain name.

Most web design and development companies provide app development. Apps are a great way to improve customer service and engagement and promote and sell products. Check out online job boards to find top-tier app development companies that are the right fit for your business.

Social Media Management

Posting on social media is a great way to connect with customers and promote your products or services, but it can be time-consuming. It’s vital to post regularly and interact with customers.

If you don’t have the time to post regularly and interact with your followers, consider outsourcing social media management to someone who does. Many web design companies offer social media management services so that you can take care of two tasks with one vendor.

IT Services

If you’re not a tech expert, chances are you don’t have the time or knowledge to fix technical problems when they arise. It’s vital to have someone on call who can help you troubleshoot and resolve issues quickly.

IT services can be expensive, but they’re worth it if you don’t have the time or expertise to do it yourself. Look for an IT company that offers a flat-rate monthly fee, so you can budget for this expense.

Security

As a small business owner, you likely have sensitive data that you need to protect. Consider outsourcing cybersecurity if you don’t have the time or expertise to keep your data secure. Tech service providers often offer multiple services.

Choose Software To Support Your Tech Needs

Sometimes, you may avoid outsourcing altogether by using software to support your tech needs. For example, if you need help managing your social media accounts, consider using a tool, such as Hootsuite or Sprout Social. These platforms allow you to schedule posts, track analytics, and engage with your followers.

Another option is to use a project management tool, such as Asana or Trello, to keep track of tasks and deadlines. This type of software can be helpful if you have a team working on a project.

Support Your Business by Outsourcing Tech Needs

Outsourcing can be a great way to improve small business management, freeing up your time to focus on other tasks. You can outsource web design and development, social media management, IT services, and cybersecurity with tech-related tasks.

For more tips on tech and operating a successful small business, keep up with the latest news at In The Tech Pit.

How to Execute a Successful Home Business Venture

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Are you faced with the dilemma of moving and starting a job? It’s hard enough to do one, but it can be difficult to manage both. It doesn’t have to be. InTheTechPit presents a guide that discusses the essential tips that will make your life easier.

Get the Best Deal on Your New Home

To start a home-based company, you must first buy the space. But as an entrepreneur, you want to get the best price possible. As you research homes in Sydney, think about how you can get the lowest price. One way is to buy a home as-is. But if you decide to go this route, you’ll want to make sure that you hire a local home inspector to thoroughly examine the property. While there are bound to be things you need to fix up on an as-is purchase, you don’t want to buy something with problems so serious that it causes you financial hardship.

Think About Your Business Formation

In many cases, business formation is a crucial step. Even if your goal is to hire employees or invest outside, it is important to form a company in order for you to limit your personal liability, pay taxes, and ensure that other details are taken care of.

How your business is organized will affect your liability and how taxes are paid. Shares of a corporation can be transferred more easily than LLC membership rights. Established investors prefer the predictable and well-established structure of a corporation.

Filing your own paperwork or using a service to file can help you avoid paying high-priced lawyers. There are different rules for forming corporations in each state. Before you proceed, make sure to check them out.

Essential Tips

When starting a business, it is important to decide whether you want to be an independent contractor or start your own corporation.

If your goal is to have a flexible work schedule and not be required to file taxes every year, then you might prefer to work as an independent contractor.

If you are looking to attract investors, however, shares of corporations can be transferred more easily than LLC membership rights. Established investors prefer the predictable and well-established structure of a corporation.

How your business is structured will affect your liability and how taxes are paid. Before making any decisions, it is a good idea to speak with an accountant or attorney. Instead, save money by hiring an LLC formation company.

More Tips for Success

  • You should research the tax implications of starting a home-based business.
  • Before purchasing a home, establish an LLC.
  • Before you file anything, make sure to check the regulations in your state for corporations.

Market Yourself

Marketing your home-based business in Sydney might feel intimidating, but it’s easy when you know what to do. Be sure to utilize social media, radio ads, billboards, bulletins, and video.

Conclusion

Starting a business and moving at the same time can be challenging, but it can be done. Follow these four steps to make the transition as easy as possible.

1. Invest time and energy into your decision to move to a new home

2. Apply for a business license and register your business name

3. Identify possible office space options near your new home

4. Understand how to set up utilities in your new location

Must-Have Tech Tools for Solopreneurs, Freelancers, and Small Business Owners

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If you’re a solopreneur, freelancer, or small business owner, you may be hesitant to invest in technology, thinking that you’d rather keep your overhead costs low. However, buying the right tech tools can help you save time, stress, and—in the big picture—money at work. This guide explains where it’s worth putting your money.

Tech to Streamline Operations

More efficient business operations mean less waste and greater profits. Here are some technologies to enhance your work processes.

  • Project management tools help everyone in your team stay on top of deadlines. If you’re a solopreneur, they make it easy to track deliverables for clients.
  • Communication tools allow you to keep up with clients and workers alike.
  • API tools with microservice architecture can help your business stay secure and scalable.
  • Automation tools like Zapier and IFTTT help to save valuable hours.

Tools to Improve Your Financials

Maintaining control of money matters is a must for any business. These tools can help.

  • Accounting tools simplify your bookkeeping and tax filing processes.
  • Mobile apps help you manage your business finances when you’re on the go.
  • Cloud storage makes it easy to keep your digital documents organized.
  • The best invoice template makes it fast and easy to get the cash you’re due.

Technology to Keep Customers Happy

Your business relies on happy customers to survive. These tools can help keep them satisfied.

  • A great website manager allows you to maintain your online platform, which customers can consult for basic information.
  • Customer service solutions like Freshdesk and Zendesk allow you to meet customer needs and answer their questions.
  • Payment solutions like Authorize.net and Chargebee allow you to give customers varied payment options, enhancing convenience.
  • Customer feedback tools allow you to pinpoint where you can improve your customer service.

It might seem like investing in technology is a waste of money. After all, it will drive up your overhead costs, cutting into your profits. In fact, these kinds of tools can save you stress, time, and manpower—ultimately saving you money too.

Recognizing Red Flags: Preventing Computer Scams and How Employees Can Help

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If you’re skeptical that your business could be infiltrated by internet scammers, consider that the Federal Trade Commission received reports of fraud from 2.2 million Americans in 2020 and that people in 20 countries lost $172 billion in 2017 to hackers, including consumers of all ages. Scammers keep getting more inventive and elusive, constantly adapting to upgrades in computer security and the vigilance of people in the commercial and consumer sectors. Like good con men, scammers prey on human greed and fear, and a momentary lapse of attention can prove disastrous. Here are a few of the more common scams to watch out for.

Phishing

Phishing scams are among the most common cyber attacks that businesses face today; it’s the third-most-common form of internet-based crime, according to the FBI. Phishing scams come in the form of emails that appear legitimate, perhaps disguised as a communication from Apple, Amazon, PayPal, or Microsoft indicating there’s a problem with your account and encouraging you to click on a link, or luring you with the promise of a purchase refund or discount. Following their link can give scammers access to your login information. 

Ransomware

Ransomware is another tricky scam that entices victims to double-click on an email attachment or download an attached file, which delivers a virus or malware that locks up your PC and encrypts your files. This is generally followed by a message that if you’ll pay a specific amount of money (usually demanded in Bitcoin so they can’t be traced by conventional means), the perpetrators will unlock/decrypt your files. Your best guard against this fast-growing scam is right out of computer security 101—set up a continuous backup system and always accept Microsoft security protection updates. These “click here” scams are always dangerous: All it takes is a click of the mouse by a distracted employee and you’ve got a security problem that can be time-consuming and costly to counteract.

Email from the Boss

Most of us are hard-wired to respond promptly and obediently when we receive an email from a supervisor or high-ranking company official. It’s a knee-jerk reaction, and that’s what the inventors of a rapidly growing scam are counting on. Targets receive an email from someone pretending to be “the boss,” who claims to need money wired to him to deal with a business emergency while he’s on the road. These tend to be carefully targeted emails and are difficult for spam filters to weed out, so make sure staff knows that no company official would ever make such a request (without going through the chain of command), and that they’re to bring it to the attention of management and IT immediately. Also, it’s not a bad idea to fine-tune your money transfer security to make sure a situation like this doesn’t occur.

Digital Forensics

A data breach can happen in a matter of seconds and do a great deal of damage before anyone knows what’s happened. It’s important to have cybersecurity technology in place to help locate the source of the problem and put a stop to it. However, there’s more to it, as digital forensic specialists can also preserve and recover your valuable data and analyze the situation so that further breaches can be avoided. Your cyber threat recovery plan should identify what data you need to recover first, define objectives, and specify which staff will be responsible for your recovery efforts.

Employee Training

Employees are your first line of defense against computer scams, so it’s important that they know what to watch for. One of the best ways to guard against attacks is to teach them to recognize any red flags, such as emails that contain impersonal greetings, grammar or style errors, and warnings that “immediate action” is required. Your company’s computer security protocol should ensure that any suspected attack is reported to the IT department in a timely manner. Advise staff to communicate with co-workers if they identify a scam to prevent others from being victimized, and staff should be prohibited from sharing passwords or other sensitive data via email.  

These days, companies rise and fall based on the extent, quality, and security of their data. That’s why it’s so vital that employees understand the threat that scams present, know how to recognize the signs and act accordingly to prevent catastrophic infiltrations. Establishing a clear protocol for staff members is one of the best ways to get everyone thinking in terms of computer security.

This article is brought to you by InTheTechPit. For more information, please contact us today!

To Survive, Small Businesses Need to Invest in 5 Tech Tools

A business’s ability to leverage technology and get ahead is one of the keys to its success.
However, small businesses assume that their budgets have to be big to reap the benefits.
But that’s not true. There’s a sizable industry geared toward helping smaller businesses
reap the benefits of innovation at affordable prices.

Why You Should Invest in Tech

Time is money, and if you’re able to save more time while increasing your profits, that’s a
good reason to invest in that kind of leverage. Some types of easily accessible technology
that benefit  businesses include:

  • Business process automation. BPA is one of the most important ways for businesses to reap benefits. Repetitive tasks consume valuable time and automating them frees up the staff’s time to pursue more profitable directions. Because of that, 66% of organizations are moving towards automating at least one business process. 
  • Managing customer experience. If you want more satisfied customers and a fatter bottom line, then you need to improve your customer’s experience. Managing customer experience is a top priority for 45% of companies. Half of the top performers regularly invest in designing user journeys that are seamless and clear.
  • Tracking and monitoring. By getting a handle on strategic metrics, you can keep an eye on your business’s overall health. Knowing how your finances are doing or what customers want and don’t want makes your business more nimble.

Technology Small Businesses Need

Customer Relationship Management Software

When you’re able to monitor and understand customer behavior, you can tailor each buyer’s journey for profit and value. CRM software tools help businesses stay at the top of the minds of their customers.

Data Backup

When things go wrong, having a solid data backup reduces downtime and business loss. The good news is that 86% of businesses do regular backups, However, three out of five backups are incomplete. In addition to backing up your data, test your system regularly to ensure it’s complete.

Password Management 

Web security is more important now that cyberattacks are on the rise. Part of the way to protect your site and business is to automate the process of password management. This includes setting policies about the strength of the password and how often they need to be changed.

Accounting Software

Accounting software is like having an accountant or bookkeeper ready. Not only will it keep track of your cash flow and expenditures, but it can also remind you of when you need to file certain taxes. Features like this improve tax compliance which saves companies money. 

Email Marketing

Many businesses turn away from email marketing, thinking that it’s on the way out. On average, email marketing returns about $42 for every dollar spent. A well-curated customer email list is money in the bank. These are the people your business can rely on to build your brand as both buyers and advocates.

Tailor Your Own Technology Solution

There are many technology solutions available to help your business stay competitive and profitable. Focus on which ones suit your primary business goals and work your way from there. 

Get useful code snippets you can use for SQL, Azure, and more at IntheTechPit.

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Find duplicates in Excel

One of the most common scenarios of data cleansing is finding duplicates in Excel. Below are the steps:

Select the data range in Excel in which you want to find the duplicate values.

Under Home Tab, select Conditional Formatting->Duplicate Values:

Click OK and observe the highlighted cells with duplicate values.

You can now filter the data based on color to quickly check the duplicate values. Short-cut to filter is select the header of the column or columns and then Alt+D+F+F on keyboard.

Insert hyperlink in gmail

While composing an e-mail, it is often a requirement to add hyperlinks to some website you may want to send the person you’re writing the e-mail to. However, the url you’re trying send them may be very long, so you would to add a hyperlink to a word which in general we write as “Click here”.

So, to add the hyperlink do as follows:

  1. Click on the red highlighted icon:

2. Copy and paste the URL in the text-box as shown below and Click OK:

The link becomes clickable as shown below:

Send the e-mail.

Here is my post on how to send email with C#.net