Be Different or be dead

November 13, 2021

3 necessary actions business owners should take to deal with a scandal

Source: Pexels

3 necessary actions business owners should take to deal with a scandal.

The potential for scandal has always been a concern for business owners. However, this is somewhat more pronounced in the contemporary commercial landscape.

The tools of our digital age have not only made information more readily available for consumers to scrutinize, but social media has made problems more shareable. Information about a scandal in your business can spread around the world in seconds.

It’s important to handle a scandal swiftly and correctly. An unaddressed controversy can haunt your business. But it can be challenging to know how best to go about this.

Let’s explore a few ways you can best approach handling a scandal.

#1. Prioritize transparency

Among the most common mistakes businesses make following a scandal, is to desperately try to minimize it. This could involve attempts at a full cover-up or perhaps delivering messaging to suggest the impact of the scandal is not as serious as it is in reality.

However, whatever the nature of the scandal, it is vital that your first step is to be honest. While the event itself may be embarrassing, full transparency is the only way to meaningfully rebuild trust with your consumers, staff, and the community. 

This begins with clear communication. Make a straightforward announcement across all your channels — this should include your social media accounts and website, as well as traditional platforms.

Be open about what the initial knowledge is about the problem and the effect it may have. Importantly, you then need to set expectations for further communications. This could be setting timelines for any further investigations that need to occur or the progression of mitigating actions.

If there are any elements of the unknown, be clear about this and establish how you’ll approach information gathering. Give your staff, consumers, and the public confidence that you are keeping them in the loop.

Along with your communications, you need to put in place access to key materials to support greater transparency and could prevent future similar scandals.

A good example here is the problems that can occur when a private party or business is suddenly in receipt of a large amount of wealth.
It can be easy to make mistakes revolving around the treatment of these funds, particularly in meeting the relevant tax obligations and protecting stakeholders’ assets.

Following a mismanagement scandal, it can be helpful to make resources about the true financial status and actions of the company available to relevant stakeholders.
Provide yearly reports to the public. Businesses are often hesitant to share this kind of information, but it can do wonders for establishing trust.

#2. Adjust your practices

Successfully handling a scandal isn’t about paying lip service to culpability or placating disappointed stakeholders. You can’t just hold out until the worst of the situation has passed and then put your efforts into marketing your way back into prominence.

Contemporary consumers and employees expect to see real and lasting change from businesses following this kind of setback. Understanding and implementing these adjustments is an area where you should be focusing your efforts.

Look inwardly at your company’s culture and ethics. While individual actions may have been directly to blame for a scandal, it is often an ineffective or weak set of core company values that gives such behavior space to breed and thrive.

By examining your approach to your business ethics and being willing to adjust you have a route to affecting meaningful cultural change. This not only manages the current scandal but also lays the groundwork for preventing them in the future.

It can be helpful to engage with a professional that specializes in business ethics so your company can gain greater clarity on how employee interactions, fair treatment, and corporate social responsibility should factor into operations.

Whether they’re an external consultant or a new member of leadership, their insights into designing and implementing ethical frameworks can be instrumental in your recovery. Importantly, their insights should be treated not just as an immediate solution.

You need to work with them to make sure changes are sustainable over the course of years and design periodic assessments to gauge efficacy. 

#3. Be accountable

Perhaps above all else, it is vital you fully accept responsibility for the scandal as a business owner. No matter what kind of leadership style you favor for your business, at the end of the day all business owners share a single trait.

You hold ultimate responsibility for the actions of your company and employees. You need to treat a scandal within your organization as though you as a business leader have caused it personally.

To start to recover from the problem, consumers want to see you’re being accountable for the controversial behavior. 

Take your lumps with gratitude. Accept that the fallout of this issue isn’t just something your company could have been damaged by. It has also given you the tools and impetus to make it better. Seek out meaningful ways you can make reparations (205) to those who may have been injured or otherwise negatively impacted by the events.

An important part of addressing a scandal is to consider it from the mindset of the customer or employee affected. Seek to understand what they need from your company in order to be indemnified for their losses or address their trauma. Part of your recovery is helping them recover. 

Even once you’ve addressed the immediate impact of the scandal, you have to remember that accountability should be an ongoing practice.

Establish an open dialogue with your consumers and staff members. Invite them to reach out if they feel you or the company is not upholding its ethical standards. This shows that you accept the faults of your past and appreciate their role in helping you be better in the future.

Conclusion

Unfortunately, experiencing a scandal is a reality for many businesses and it can be a damaging influence. It’s important to understand that handling these issues is about making genuine efforts.

This includes being transparent in your communications, adopting meaningful change, and establishing a culture of accountability. It’s not easy to get past a scandal, but when you do the work you can not just move on from the problem but come back stronger.

— Jori Hamilton is an experienced writer residing in the Pacific Northwest U.S. She covers a wide range of topics but takes a particular interest in covering topics related to wellness and mental health. To learn more about Jori, you can follow her on Twitter and LinkedIn.

• Posted 11.13.21 at 04:43 am by Roy Osing
• Permalink

October 23, 2021

Female tech entrepreneurs must take these 6 important actions for a successful startup

Source: Pexels

Female tech entrepreneurs must take these 6 important actions for a successful startup.

Technology is one of the fastest-growing industries globally.

Unfortunately, it’s not that welcoming to women.

The latest data shows that the gender pay gap in tech is a global issue that needs to be addressed.

Women who work in Canadian tech jobs see a pay gap of about $20,000 per year.

Many women are dissatisfied with how they’re treated and eventually decide to quit their jobs and run their own startups.

If you’re faced with the same challenge, these 6 actions will help you build an amazing startup.

#1. Use the latest technologies for marketing

Any startup needs funding, and female tech startups are no different. This is where proper marketing and networking can do wonders and provide enough funds for the organization to develop.
Women who own tech startups need to go beyond the standard marketing methods and showcase their minimum viable product to the masses. To succeed in their endeavors, women entrepreneurs in tech should use the latest technology trends in marketing.

One example is a technology like VR, AR, or XR. This approach works great with all kinds of MVPs and can lead the user in and showcase an app or a platform user interface. In addition, it can help visualize complex data and allow the startup to connect with the audience differently.

#2. Be more flexible

Ever since the pandemic started, more businesses have shifted perspective and allowed working from home. However, female entrepreneurs may feel pressured to do more. Some may believe that letting people work from home won’t bring about satisfactory results.

In Australia, the largest pay gap is 24.4%in the science and technology industry.

Unfortunately, this kind of fixed mindset might prove to be detrimental to female tech startups. After all, many jobs can be managed online, and employees can be trusted that they’ll do what’s necessary.

Besides struggling with flexibility related to employees, female entrepreneurs might also be too harsh on themselves. This can cause more mistakes to happen and lead to more significant issues in the organization. Female entrepreneurs should know that their male colleagues make mistakes too.

#3. Achieve good work-life balance

Besides the gender pay gap, women in technology and startups often face another challenge—parenthood. Of course, the role of a mother is even more important than the role of an entrepreneur, but women know they need to juggle both.

When it comes to the UK, women earn up to 28% less than their male colleagues in the same tech roles.

To remain successful in the entrepreneurial world, female business owners should primarily quit blaming themselves for pursuing their careers while being mothers. Instead, they should look at it as something they’re doing for their children and their future.
In addition, to succeed in both raising children and scaling a company, they should discuss their plans and aspirations with their partner. Women shouldn’t be afraid to ask for help so they can focus on their careers.

#4. Ignore the imposter syndrome

Impostor syndrome is another issue that prevents female entrepreneurs from being successful. It’s related to the feelings of self-doubt and personal incompetence, regardless of the person’s education and experience.

Unfortunately, the imposter syndrome can make female entrepreneurs feel like they need to work harder to achieve their goals. Eventually, it might take a toll on their well-being and performance.

Here’s what female entrepreneurs should do to overcome the impostor syndrome:

▪️Avoid comparing themselves to others.
▪️Build a support network.
▪️Be honest about how they feel.

#5. Be open to receiving help

Women in tech businesses know they have a lot to prove to themselves and others. Therefore, female entrepreneurs often take on the jobs they shouldn’t be working in. They try to do it all and may often overlook the essentials.

However, women in business need to learn how to be open to receiving help. Regardless of the industry, all businesses require teams of people with different abilities and ideas. Only a business that has all hands on deck can thrive.

Female entrepreneurs should also work on surrounding themselves with like-minded people, not just in business. They should build a network of friends to lean on when things get rough. One of the best ways to do this is to find a community of other female tech entrepreneurs and brainstorm ideas.

#6. Find a remarkable mentor

The right mentor can mean a lot to a female entrepreneur, especially in the tech industry. They can help identify the growth opportunities and share their knowledge and expertise. Good mentors can also be consultants.
The most important thing a mentor can do is give feedback. This is crucial if the startup is new and needs a little push.

In the US, the gender pay gap is 3% for the same job, although the percentage differs based on location.

On the other hand, a role model serves as eternal motivation and inspiration. Role models show that the business can be developed, and success can be achieved. They’re there to help women entrepreneurs do more and dream bigger.

Summary

Women in tech are often facing issues with the gender pay gap. This is why many decide to start their own business. However, it’s not as easy as it sounds. Many female entrepreneurs feel like they don’t belong and are convinced their families suffer because of their careers.

Still, if they wish to be successful, they should work on promoting their MVP, show their knowledge, and not be afraid to ask for help when they need it. With the right community and a flexible mindset, female entrepreneurs in the tech industry have a higher chance of succeeding.

— Isaja Karadakovska is a pol-sci graduate, a former Junior Researcher, and currently TakeATumble AU’s Content Coordinator. She is driven to seek and create great content. Her free time is dedicated to her plant obsession. You can visit here on LinkedIn.

• Posted 10.23.21 at 03:25 am by Roy Osing
• Permalink

October 2, 2021

4 proven steps to create a brilliant customer experience strategy

4 proven steps to create a brilliant customer experience strategy

The secret to providing consistently fantastic customer service is a sound customer experience strategy. In a thriving competitive market, extraordinary customer service can be a strong differentiator, especially when you’re competing with seemingly similar products, quality, and price points.

Your customer experience strategy can influence your brand perception, i.e., how your audience feels about your brand and how they tell others about it. Data shows that 43% of buyers ditch a brand for poor customer experience, so it pays to make your customers feel special by offering personalized services.

That’s why the first step in developing a customer experience strategy is to gather as much data as you can about your customers. You can find all the steps in the infographic below from GetVoip.

A detailed customer experience strategy can be instrumental in keeping your customer service efforts consistent and coherent across different departments. When customers are happy, you can retain them for life. Companies with extraordinary customer service have seen a 25% to 95% increase in profits just by a 5% increase in customer retention.

The customer should be the front and center of your customer experience strategy. The success of the strategy, however, depends on customer-centric company culture. From the top management to the customer-facing personnel, everyone should be on the same page to serve the customers the best. Only then the important (and tough) decisions can be made and implemented.

Once you implement the strategy, you will find many ways to make your customers feel valued. So, go ahead and start making your customer experience strategy to ensure greater success for your company.

— Reuben Yonatan is the founder of GetVoIP, a global comparison resource for business technology buyers. Yonatan works with companies to meet the needs of their business communication stacks.

• Posted 10.2.21 at 02:08 am by Roy Osing
• Permalink

September 18, 2021

3 proven ways you can protect your business by using Blockchain technology

Source: Pexels

3 proven ways you can protect your business by using Blockchain technology.

These days, cybersecurity is one of the most pressing concerns for any business. Globally, 30,000 websites are hacked daily, making 64% of the world’s businesses victims of a cyber attack.

Online connectivity has become both a blessing and curse for businesses, but blockchain systems just might change all of that.

Blockchain technology is improving business security, creating new and powerful solutions in data protection. And the implications are revolutionizing the way we handle data.

But how is blockchain making this difference? And how are businesses applying blockchain towards a more secure information network?

By exploring these questions, you too can understand blockchain and its role in staying safe and relevant in business.

How Blockchain is revolutionizing cybersecurity

Blockchain systems are the next evolution of cloud data security. This is because blockchain offers new levels of protection, transparency, and privacy across data systems.

But what is blockchain and how is it producing enhanced security results?

Blockchain technology was created for and popularized by cryptocurrencies like Bitcoin. Blockchain systems are necessary for making cryptocurrencies work because they provide immutable data storage on a decentralized database, all linked together through cryptographic hash functions.

What this means is that there is no singular server system that stores information. Instead, the data is locked in a node behind personalized authorization keys that can then be used to access the data from anywhere.
This protects the integrity of information by keeping data separate, even though it’s linked together.

Then, the cryptographic hash functions make changing data all but impossible. To alter information on a blockchain, a hacker would have to alter the entire chain since changing one node interferes with the linked cryptography of other nodes. Dominating the chain takes computing power that not many hackers can manage.

The structure of a blockchain naturally gives businesses security advantages when it comes to protecting data. In securing Internet of Things (IoT) devices, for example, blockchain is especially useful because it can link and protect access points while tucking private data away in various locations. This safeguards systems against network crashes as well as expensive data breaches.

In the course of protecting data-driven business practices, blockchain stands to improve security across the board. This has countless practical applications for business owners looking to reduce risks while enhancing efficiency.

Practical applications of Blockchain for business owners

Blockchain equates to an all-new ability to innovate data security and transparency for business owners. The results often come in the form of efficiency and security upgrades that take business data from a place of vulnerability to one of safety. This is all possible through the ways blockchain can be applied to more efficient use of data.

Here are some of the practical ways in which business owners are already applying blockchain for enhanced business security:

1. Tracking changes — One of the key cybersecurity features of blockchain that makes it a revolutionary tool is its ability to immutably store all change information that occurs within a data set.
With blockchain, changes are time stamped and locked in forever. This includes everything from transactions to authorization data.

This is especially useful when it comes to the security of food products. In one instance, Golden State Foods partnered with IBM to implement a blockchain-based tracking system for food transit and IoT sensory data. This meant the path of food and its quality metrics were stored transparently across the chain.

From here, the company can ensure the quality of its products by tracking any updates to the information. This makes implementing a recall simple and more effective should it be necessary and keeps customers safe.

2. Preventing breaches — Blockchain also acts to protect against data breaches. This is especially important as businesses make greater use of IoT sensor networks to monitor and improve their own practices.

And companies are applying blockchain already to help ensure the safe transfer of information across IoT devices. For example, Hdac security technology creates quality records at each process stage on a private blockchain. Then, data is cross-checked and inspected for authorization and behavior, ensuring the quality and accuracy of data use.

In this fashion, companies can protect against IoT network breaches through comparative data solutions on the blockchain.

3. Backing up data — Last but not least, blockchain is instrumental in business security through its ability to back up data safely. Blockchain excels in this regard since it is incredibly difficult to alter blockchain data and the decentralized nature of these systems ensures that all data isn’t stored in a single place.

Many companies, resultingly, have had success adding blockchain to their data backup procedures. Acronis, for example, has applied blockchain file certification to all their storage systems and in doing so has secured millions of data files.

By integrating peer-to-peer computer networks for storing data over blockchain, companies all but guarantee that data will be safely backed up somewhere. This mitigates the threat of data breaches and ransomware attacks.

Securing your business future

These features of blockchain technology offer unprecedented security solutions.

This technology takes what can be an overwhelming job and reduces it to a system of checks and balances that can be simple on a blockchain platform.

Integrating blockchain in data security on the job can then make problem-solving easy for full-stack developers already attempting to juggle dozens of complicated security factors.

From there, your business security solutions can make the strides needed for protection in the modern world. No matter the path of your cybersecurity career or business endeavors, consider applying blockchain to give you the data tracking, safety, and backup options you’ll need.

— Jori Hamilton is an experienced writer residing in the Pacific Northwest U.S. She covers a wide range of topics but takes a particular interest in covering topics related to wellness and mental health. To learn more about Jori, you can follow her on Twitter and LinkedIn.

• Posted 9.18.21 at 06:59 am by Roy Osing
• Permalink