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Reuben bring you latest trend in Online Business; Insight and Ideas on how to Grow your Small and Medium Scale Business
Sunday 31 October 2021
How to Gain Confidence to Run Your Small Business
Running a small business is not an easy task with so many challenges that come with it. How can you gain confidence to deal with those issues?
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34 Top LinkedIn Influencers
In a nutshell, LinkedIn influencers are people who excel at their professions. They come from various industries around the world and are selected by invitation only. They are innovators, experts and thought leaders in a number of industries who produce quality content.
Following is a list of 34 of these top voices and some info on each.
What is a LinkedIn Influencer?
These thought leaders focus on more than promoting a personal brand. The type of content they write deals with issues and trends. They are experts at managing this kind of information and advice and promoting a conversation on the topics.
Why Your Brand Should Consider Partnering with a LinkedIn Influencer
There are several good reasons why small businesses should connect with LinkedIn Influencers. First off, influencer marketing is on the rise, and asking yourself what’s an influencer is a good start. This is social media advertising that uses product mentions and endorsements from online experts. It rivals the effectiveness of other sites like Twitter.
There are a few other reasons your business needs to consider this.
- Top influencers drive sales. When they create an article about your brand or services, you’ll get a spike in traffic. And that generates more sales.
- Their posts are effective. If you are launching a new product or service, it’s hard to get respect and trust. These influencers already have both. So they act like marketers for your company.
This type of marketing works for a variety of companies. Like small businesses with limited marketing budgets. Businesses that want to improve their reputations are another good fit.
34 Top LinkedIn Influencers to Work with in 2021
Here are the best influencers in their respective fields. These are the top voices with outstanding LinkedIn profiles.
1. Jill Schlesinger
Jill Schlesinger is a business analyst who covers markets, investing, the economy and a number of other money related areas. She has also been a chief investment officer. Her career also includes being Editor-At -Large for CBS Interactive.
Role: CBS News Business Analyst
Followers: 752,256
2. Richard Branson
Richard Branson founded The Virgin group and is responsible for other enterprises in areas like financial services, transportation and travel to name a few.
Role: Founder at Virgin Group
Followers: 19,504,623
3. Hunter Walk
Hunter Walk is a venture capitalist. His blogs help individuals and SMBs on self development paths.
Role: Partner at Homebrew VC
Followers: 893,357
4. Adam Grant
Adam Grant is a New York Times best-selling author. The host of WorkLife with Adam Grant, his talks have over 30 million views. Motivational topics include the habits of original thinkers.
Role: Organizational psychologist at Wharton, bestselling author, and host of the TED podcast WorkLife
5. Liz Ryan
Liz Ryan is the CEO and Co founder of Human Workplace. The company works with everyone from individual job seekers to leaders who want to change their organizations. There are helpful posts and more articles on her LinkedIn profile.
Role: Career development coach, management consultant
Followers: 3,162,478
6. Bill Gates
Bill Gates is also the co founder of Microsoft. His LinkedIn profile highlights the philanthropic work he promotes around the world.
Role: Co-chair, Bill & Melinda Gates Foundation.
Followers: 34,469,752
7. Gretchen Rubin
Gretchen Rubin has written several books. She is considered a thought leader on happiness and habits. “Happier with Gretchen Rubin,” Is her weekly podcast. She supplies for advice on topics like people operations.
Role: Bestselling writer about habits and happiness at gretchenrubin.com
Followers: 2,978,465
8. Katya Andresen
Katya Andresen is CEO of cricket media. She is also working with Cigna to make health care more affordable. Her content covers a range of work related issues like burnout.
Role: Chief Digital Officer at Cigna
Followers: 1,266,018
9. Sallie Krawcheck
Sallie Krawcheck uses her Linkedin profile to focus on helping women in the workplace. Her posts include articles on financial self care and negotiating.
Role: CEO and Co-Founder of Ellevest
Followers: 2,714,419
10. Greg McKeown
Greg McKeown is an author and public speaker who focuses growth topics . He has made speeches Google and Facebook about leadership and focus. He also supplies advice on simplicity and execution. Greg hosts the conversation on his “What’s Essential” podcast.
Role: Author of 2 NYTs bestsellers: “Effortless” and “Essentialism.”
Followers: 430,667
11. Tim Brown
Tim Brown uses his LinkedIn profile to post interesting insights and tips focus on creativity and leadership for marketers and small enterprises both.
Role: Executive Chair at IDEO,Vice Chair at kyu Collective
Followers:1,465,403
12. Ann Handley
Ann is the Chief Content Officer at MarketingProfs. She is considered a pioneer in digital marketing.
Role: Digital marketing & content expert.Wall Street Journal bestselling author. Keynote speaker. Writer.
Followers:428,624
13. Daniel Goleman
Daniel is the author of several best-selling books giving advice on social and emotional intelligence, education and leadership. His other attributes include co-designing an emotional intelligence coaching certification. He has also developed other resources to help improve your life.
Role: Host of First Person Plural: Emotional Intelligence and Beyond
Followers: 5,661,188
14. Beth Kanter
Beth focuses her career on the nonprofit sector. She aims to help them leverage online resources and technology. She has co-authored and written several books.
Role: Trainer, Virtual Facilitator & Nonprofit Innovator
Followers:540,110
15. Marla Gottschalk, Ph.D
Marla has worked with employees in the non-profit, technology and hospitality sectors. She writes a newsletter tackling work/life topics. Her LinkedIn profile covers several accomplishments.
Role:I/O Psychologist | Core Stability Coach
Followers:2,214,945
16. Michael (Mike) Stelzner
Michael is the CEO and founder of Social Media Examiner. His LinkedIn profile states SMB owners can get original videos, podcasts and posts from this resource.
Role: CEO/Founder: Social Media Examiner & Social Media Marketing World
Followers:29,460
17. Jeff Bullas
Jeff writes a marketing blog and his website gets over 5 million LinkedIn visitors a year. His focus is on tips inspiring and educating entrepreneurs. The best-selling author is also a digital strategist and the keynote speaker. Great for owners looking to inspire employees.
Role: CEO at Jeffbullas.com Pty Ltd
Followers: 46,537
18. Pam Moore
Pam Is a keynote speaker covering content strategies, digital marketing, and other topics. Her Social Zoom Factor podcast gets 100k monthly downloads across the world.
Role: CEO, CMO, Author, Forbes Top 5 Social Media Influencer
Followers: 349,020
19. Ryan Holmes
Ryan’s LinkedIn profile has him listed as an active advisor and investor. He offers in person and online programs for entrepreneurs. He offers in person and online programs for entrepreneurs and is the author of Saving Social: The Dysfunctional Past and Promising Future of Social Media. His advice is great for ecommernce businesses. And brick and mortar shops looking to crack the digital market.
Role: Chairman and Co-founder at Hootsuite
Followers: 1,722,504
20. David Edelman
David co-led McKinsey’s Global Digital Marketing and Sales Practice for eight years. He blogs on different topics like digital marketing and speaks at events and conferences.
Role: Former Fortune 50 CMO; Business School Professor; Executive Advisor
Followers: 1,128,834
21. Bernard Marr
Bernard provides business consulting, business analytics and writing services. His LinkedIn profile says he is available remotely or in person. He talks about tech, big data and other topics.
Role: Internationally Best-selling #Author #KeynoteSpeaker
Followers: 1,468,887
22. James Altucher
He has authored several Wall Street Journal Best Selling books. James has also sold companies and advises others. He hosts two podcasts.
Role: Founder at “The James Altucher Show” podcast
Followers: 1,259,803
23. Sujan Patel
Sujan is a data driven entrepreneur and marketer. He offers a course called The Cold Email Master Class. He’s known around the world for his expertise.
Role: Co-Founder at Mailshake | Managing Director at Ramp Ventures
Followers: 35,573
24. Hannah Morgan
Hannah helps people with job searches by supplying marketing tools and strategies. She speaks and writes on the subject. Her blogs have been recognized as one of LinkedIn’s Top Voices in Job Search and Career in 2019. CareerBrandVideos helps people with personal branding and tips on how to succeed. She is a great resource for sole proprietors.
Role: Job Search Strategist | Speaker & Trainer
Followers: 306,069
25. Jeff Weiner
Jeff Is dedicated to helping the global workforce with their careers through coaching and mentorship. He’s also served in leadership capacities at other online places like Yahoo. His education includes The Wharton School.
Role: Executive Chairman at LinkedIn / Founding Partner Next Play Ventures
Followers: 10,715,767
26. Carson Tate
Carson contributes to the Harvard Business Review on a regular basis. She works with clients so they can engage their workforce and increase productivity. Carson works with SMBs of all sizes to help them with their challenges.
Role: Employee Engagement Expert | Founder of Working Simply, Inc
Followers: 824,733
27. Jay Baer
He is the founder of Convince & Convert Consulting. Jay also writes a newsletter called The Baer Facts. You’ll find marketing case studies there. And advice.
Role: Marketing and customer experience expert
Followers:31,581
28. Nozomi Morgan
Morgan Focuses on specialized coaching and consulting for multinational companies and the C suite. An excellent choice for enterprises looking to better understand ethnic work styles as well as gender and race. She specializes in building multicultural workforces.
Role: Boundaryless Executive
Followers:29,405 followers
29. Mickey Mikitani
Mickey is the founder, CEO and chairman of the Rakuten Group, Inc. His experience covers fintech, digital content and e-commerce. Rakuten became a mobile network in Japan in 2019. Mikitani’s experience is invaluable for online financial services.
Role: CEO of Rakuten
Followers: 1,266,487 followers
30. Dharmesh Shah
This is a good influencer for small organizations who want to know about marketing and branding. His business focus is on startups. Shah Also specializes in Internet marketing and seo.
Role: Founder and CTO at HubSpot
Followers:1,012,282
31. Simon Sinek
Simon is an optimist committed to changing the way any business operates, acts and thinks. He has studied organizations to understand how they communicate and act.
Role: Author, Motivational Speaker
Followers: 5,581,693
32. Jeff Selingo
Jeff is an expert on the higher education industry. His specialties include product development, marketing and higher education program design.
Role: Human Resource Expert
Followers: 595,288 followers
33. Gary Vaynerchuk
Gary is recognized as a thought leader in business. He can critically analyze a job market and recognize patterns and trends for a ceo or owner. He is also active on several social media channels. His platforms have over 30 million followers. ‘The GaryVee Audio Experience’ podcast is a global leader in its niche.
Role: Communications Expert, Author, Chairman of VaynerX, CEO of VaynerMedia
Followers: 4,155,708
34. Neil Patel
Neil Patel is one of the industry front runners when it comes to influencer marketing. He’s helped companies with names like General Motors, Airbnb and Google grow. Patel’s Marketing School podcast and YouTube channel on marketing are a great resource for small ecommerce outfits. A link to his LinkedIn profile is below.
Role: Co-Founder at Neil Patel Digital
Followers: 417,777 followers
How do I find top LinkedIn influencers to work with?
You have two options if you are looking for top influencers to work with. The first will get you a list of LinkedIn profile names from around the world. This plan lets you sort through them manually.
- Go to the LinkedIn site.
- There’s a search box. Use keywords relevant to your company.
- Look through the second level connections.
- Scroll through the LinkedIn profile connections. If there’s an article posted, read it. What they share will give you more knowledge about them.
- Connect with the influencer or company you want to work with. Message them through LinkedIn or ask for a connection. Writing about why you think there’s a good chance for engagement is good.
- Some LinkedIn influencers will partner with you. Others might not and some wont respond.
You can also use LinkedIn Groups. Use the dropdown menu to get started. Use keywords and try joining the ones that are in your niche and industry.
Do LinkedIn influencers get paid?
LinkedIn influencers don’t get paid for creating content on the platform. In that way, they blogs and posts they write are self promotional. However, they do make money on the back end. Just not directly through LinkedIn.
Influencing their target market around the world is the goal. That can lead to coaching,consulting and speaking opportunities. Influencers with an excellent LinkedIn profile can charge for sponsored content.
How do you get an influencer to tag on LinkedIn?
Tagging is a way of acknowledging and involving people on the platform. It fosters engagement can help you boost your connections. It’s a simple process. Click share and press @. Continue to type the person’s name. You’ll get suggestions that show up in a drop-down menu. Continue creating a post and include the tag.
Is LinkedIn good for influencers?
Having a LinkedIn profile is good for influencers. Here’s a few reasons why.
- LinkedIn is a good fit for many different kinds of brands. It’s generally focused on business professionals. Like B2B brands.
- They get a dramatic increase in the number of followers on LinkedIn. It’s a social media platform that blankets the world.
- It’s a place for people like a former CEO to launch a new company.
An influencer with a good Linkedin profile can sell books, get high paying speaking gigs and other opportunities.
Who has the most followers on LinkedIn in 2021?
Bill Gates has the most followers on LinkedIn at 34,490,177. His LinkedIn profile states that he’s an avid blogger. And cofounder of Microsoft as well as co chair of the Bill and Melinda Gates foundation.
Image: LinkedIn
This article, "34 Top LinkedIn Influencers" was first published on Small Business Trends
Etsy Sellers Avoiding Supply Chain Shortages, CEO Says
As supply chain issues continue to disrupt major retailers in the US, smaller businesses, which are less reliant on complex global supply chain procedures, are less predisposed to disruption this holiday season.
An example of small businesses avoiding supply chain issues can be found at Etsy. According to Josh Silverman, CEO of the ecommerce company, the vast majority of Etsy sellers are businesses that source raw materials locally.
As such, they are not susceptible to the supply chain issues currently hobbling larger retailers.
Etsy Sellers Avoiding Supply Chain Shortages, CEO Says
Silverman’s unveilings show the resilience and agility of small businesses. They also offer confidence to small business owners as we move into the holiday season that their business won’t be adversely affected by the widely-hyped supply chain disruption.
It also shows the importance and benefits of sourcing materials locally. As Silverman writes in a blog post on the topic:
“The Etsy marketplace is structured differently than many retailers–most of our sellers are businesses of one and don’t rely on just-in-time supply chains to create their unique and handmade inventory. The average Etsy seller works from home without complex overseas production lines and fulfillment requirements, and their supply chain looks a lot more like locally-sourced raw materials and two hands,” writes Etsy’s CEO.
Prioritizing Transparency and Clear Communication
Silverman goes on to note the importance of transparency and clear communication with buyers, something which Esty sellers prioritize. Improved estimated delivery dates and the option to filter for local sellers, have continued to the success of the Etsy marketplace.
Whether selling on Etsy or selling elsewhere, small business owners can be encouraged by the resilience and success of the Etsy marketplace. As well as continuing to source materials locally to avoid complex and delayed supply chain issues, small business sellers should prioritize being transparent and communicate efficiently with customers to maximize selling success this holiday season.
Image: Depositphotos.com
This article, "Etsy Sellers Avoiding Supply Chain Shortages, CEO Says" was first published on Small Business Trends
Saturday 30 October 2021
New Small Business Grants for COVID Relief Available from State, Local Governments
State and local governments are still working hard to support small businesses affected by the pandemic. Many businesses have already applied for and received funding to cover extra expenses or losses. But the work isn’t over.
New Small Business Grants for COVID Relief from State and Local Governments
Here are some state and local grant opportunities from governments opening up new funding rounds.
Indiana Small Business Restart Grant
Indiana small businesses have the opportunity to apply for $94.5 million in grant funding. Aimed at businesses negatively affected by the pandemic, funds can pay for payroll, lease expenses, profit loss for sole proprietors, or other operating expenses. You can even get reimbursed for expenses you’ve already covered. Applications are due by November 15.
Providence COVID-19 Small Business Recovery Grant Program
The city of Providence, Rhode Island is offering microgrants of $2,500 to small businesses negatively affected by COVID-19. More than 2,700 businesses can receive funds. There’s an online portal to apply. And the deadline is December 31.
New Mexico Business Recovery Grant Program
New Mexico is opening up another round of grant funding for small businesses affected by COVID-19. There’s a total of $200 million available. Eligible businesses can use them for expenses like rent and mortgage payments for local storefronts. Applications are due by December 7.
Arizona Crisis Contingency and Safety Net Fund
Arizona recently announced $3.5 million in funding to various small business grant assistance programs throughout the state. There are four main funds, including the EmergeAZ Fast II Grant program and the Arizona Small Business Association Growing opportunities grant. Each program has different qualifications and requirements. But all are aimed at helping businesses recover from the past two years.
Central Texas Small Business Grants
The Bell County Commissioners Court and Central Texas Council of Governments recently unveiled a second round of grants for local businesses affected by the pandemic. This includes $1 million in funding from the federal American Rescue Plan Act. Many local businesses received funds after applying last year. But those that were eligible and did not receive funds will be considered for this round.
Chi Biz Strong
Chicago small businesses will get access to another $20 million in funding. The money comes from the federal American Rescue Plan Act. And the new program, known as Chi Biz Strong, will award grants of $5,000 to $10,000 to small businesses and nonprofits affected by the pandemic. November 12 is the deadline to apply.
Williamsburg COVID-19 Small Business Grant Program
The city of Williamsburg, Virginia recently announced Phase 3 of its COVID-19 Small Business Grant Program. Local small businesses in Williamsburg, Poquoson, and York County can apply for up to $15,000 in funding. Grants awarded during the first two funding rounds count toward that cap. The online portal is now open and will close when funds have been dispersed.
Windsor American Rescue Plan Act Funds
The town of Windsor, Connecticut just approved $500,000 in new grant funding for local small businesses. The money comes from from the American Rescue Plan Act. And it will be available to local businesses and nonprofits with 25 or fewer employees. Businesses that have already received funds in earlier rounds can apply. But at least $200,000 will be set aside for organizations that didn’t receive funding in earlier rounds.
Image: Depositphotos
This article, "New Small Business Grants for COVID Relief Available from State, Local Governments" was first published on Small Business Trends
Take Your Advertising and Marketing to the Next Level with this Event
If you want to take your digital marketing skills up several notches make sure to attend the premier digital marketing, media, and advertising conference online. You will gain insights from leading industry leaders with emerging strategies, the latest innovative technologies, and best practices to take your business to the next level in your next marketing efforts.
Click on the red button and register now to attend DigiMarCon on November 17-18, 2021 online live and on-demand.
Featured Events, Contests and Awards
More Events
- BTCPA’S Annual Nonprofit Storytelling Event
November 2, 2021, Online - The Third SPAC Opportunity Summit
November 3, 2021, Online - Net Zero For Small Business: How to Reach Net Zero in 6 Months
November 3, 2021, Online - LEAP TA: Life Sciences 2021
November 8, 2021, Online - Beyond Business as Usual: Regenerative Economy
November 10, 2021, Online - TC3 Carrier Connections 2021
November 15, 2021, Menlo Park, CA - ODSC West 2021 AIx Summit
November 16, 2021, Burlingame, CA - DigiMarCon World 2021 – Digital Marketing, Media and Advertising Conference
November 17, 2021, Online - #DMWF Europe 2021 Hybrid
November 23, 2021, Amsterdam, Netherlands - #DMWF Europe 2021 Virtual
November 30, 2021, Online - Social Media Strategies Summit Public Agencies and Government
December 8, 2021, Online - Advancing Design Quality Management 2022 Conference | January 24-26 | Dallas, TX
January 24, 2022, Dallas, TX - Speaker Programs and Advisory Boards
January 26, 2022, Online - The Virtual Internal Communications Conference programme
January 27, 2022, Online - The Shopper Insights & Behaviours & Winning Category Management Conference
February 22, 2022, London, UK - Social Media Strategies Summit | Virtual Conference
February 23, 2022, Online - The Shopper Insights & Behaviours & Winning Category Management Conference
February 24, 2022, London, UK - TECHSPO Sydney 2022 Technology Expo (Internet ~ Mobile ~ AdTech ~ MarTech ~ SaaS)
March 22, 2022, Sydney, Australia - TECHSPO New York 2022 Technology Expo (Internet ~ Mobile ~ AdTech ~ MarTech ~ SaaS)
April 21, 2022, Online - TECHSPO Toronto 2022 Technology Expo (Internet ~ Mobile ~ AdTech ~ MarTech ~ SaaS)
May 12, 2022, Toronto, Ontario
More Contests
This weekly listing of small business events, contests and awards is provided as a community service by Small Business Trends.
You can see a full list of events, contest and award listings or post your own events by visiting the Small Business Events Calendar.
Image: Depositphotos
This article, "Take Your Advertising and Marketing to the Next Level with this Event" was first published on Small Business Trends
10 Tips for Building a Standout Team for Your Small Business
A great team can be a powerful asset for any business. But great teams aren’t built by accident. It takes careful planning and set systems to turn new employees into productive workers and passionate brand ambassadors. These tips from members of the online small business community can help you grow an ideal team for your small business.
Boost Performance with Intra-Team Coaching
Coaching is a powerful way to improve your performance as an entrepreneur. And it can help your team become more productive and effective too. Luckily, you may not have to look far to find helpful insights. Rachel Strella explores the potential of intra-team coaching in this Strella Social Media post.
Learn to Plan Parties for Introverted Coworkers
Every employee has their own personality traits. Some may be introverted or shy. So they’re unlikely to appreciate the same activities or loud recognition as those who are more extroverted. In this Aha!NOW, Claire Ward offers tips for planning parties for introverted team members.
Motivate Your Workforce to Improve Productivity
Most entrepreneurs are motivated by a desire to grow their business. But your team doesn’t have the same stake in your company’s fate. So you need to keep them motivated if you want to get their best possible effort. Ivan Widjaya shares five ways to do so in this Biz Epic post.
Encourage Personal Cell Phone Use
Cell phones can be powerful business tools. Everyone on your team likely already has one. But some employers also provide them for company use. New data suggests that using personal phones for business may benefit businesses and team members. Learn more in this GrowMap post by Deborah Anderson.
Learn Spanish on YouTube
Today, many offices are bilingual. And you’re likely to work with international clients at some point. So learning Spanish — even just the basics on YouTube — may be beneficial. See examples in this GMR Transcription post by Beth Worthy. Then head over to BizSugar to read commentary from community members.
Help Your Team Succeed with a Thorough Training Program
All businesses with teams need some kind of employee training. But a set system is even more important in franchises with multiple locations and managers. Joel Libava offers thoughts on this key to success in this Franchise Direct post.
Sustain a Positive Attitude on Your Team
Fostering a successful team isn’t just about training and maintaining productivity. A happy team is more likely to work hard to help your business achieve its goals. This Startup Professionals Musings post by Martin Zwilling includes tips for sustaining a positive team attitude.
Create Systems for Welcoming New Team Members
New team members can expand your capabilities and help your business grow. But onboarding also represents a major time commitment. Luckily, there are different ways to welcome new employees and systemize the process. Read this InvoiceBerry post by Daniel Wilson for more.
Choose a Top Payment Processor
Paying your employees reliably and on time is one of the most important factors in keeping them happy. So you need a quality payment processor. Lisa Sicard offers 15 options in this Small Biz Tipster post. And members of the BizSugar community shared their thoughts here.
Write Actionable Standard Operating Procedures
Standard operating procedures give your team a specific set of systems for performing various tasks. This helps them understand what is expected of them. And it helps your business scale without your constant involvement. Learn how in this MYOB post by Bryan Christensen.
If you’d like to suggest your favorite small business content to be considered for an upcoming community roundup, please send your news tips to: sbtips@gmail.com.
Image: Depositphotos
This article, "10 Tips for Building a Standout Team for Your Small Business" was first published on Small Business Trends
Friday 29 October 2021
Evan Goldberg of Oracle NetSuite – Everybody was moving to Just In Time inventory, but that’s not possible in many cases now
About this time every year I look forward to heading to Oracle NetSuite’s annual user conference, SuiteWorld, and speaking with its EVP and founder Evan Goldberg. But for the second year in the row we had to do our conversation virtually. And just like last year’s conversation, this year finds sellers trying to navigate a holiday season under a pandemic, we’re still doing that but with an even different situation with a worldwide logistics situation adding even more to the equation.
Below is an edited transcript of a portion of our conversation. Click on the embedded SoundCloud player to hear the entire conversation.
Brent Leary: What are we facing now, how does it differ from last year, and how did some of the things that you have put in place and are putting in place as of today going to help with what businesses are going to be faced with when it comes to fulfilling people’s shopping, and hopefully getting their stuff on time for Christmas this year?
Evan Goldberg: Now we have a combination of supply and demand both going in the opposite directions. And one of the things we’ve been pioneering for a while is this capability called the supply chain control tower. That’s what you need to make sure you don’t have a collision. Unearthing where orders have risk, giving a score card of a vendor’s ability to deliver to you so that you can rank them to be able to shift some of your purchases, if needed.
We always try to do at NetSuite is give you this great visibility into all the things that are impacting your ability to deliver to your customers, which is obviously what you want to do. Get them the right product at the right time, and at the right cost to you.
Brent Leary: How do companies make sure that at least they explain and have enough information to be able to set customer expectations? Because it feels like it’s going to be a big issue, at least until next year.
Evan Goldberg: We’ve added capabilities in NetSuite to do predicted delivery dates – what’s the earliest delivery date. That gives your salespeople, for example, when they’re talking to a big customer real visibility based on current demand and expected delivery of goods, or manufacture of goods, depending on what type of company you are. What your customers can expect, because at the end of the day, that’s the most important thing is set great expectations. Obviously you’d like to under promise, only to the degree that they can tolerate that, and then over deliver.
The other aspect of it is you have to really understand your product lines… For the longest time, everybody was moving was just in time (JIT) inventory, right? But that’s just not going to be possible in a lot of cases now, so you’re going to have to figure out based on your entire product line which things are most important for me to have excess supply of, and which things can I tolerate some delays. Certainly your most profitable items or the items that your customers are most relying on perhaps are the ones you may want to prioritize for sort of more of a just in case inventory strategy, and this is where, really for product companies of all different types have to think about this.
Brent Leary: If I can encapsulate what you said this year and last year, it’s all about automation, insight, and agility. This seemed to be kind of the themes that are coming out of this year’s SuiteWorld. How did the definition of these three things change because of what’s all going on right now?
Evan Goldberg: I think there’s some degree to which it’s not as easy to automate now, because there’s these constant shocks. But to the degree you can, it’s more important than ever. Most companies are dealing with a labor shortage, with the great resignation, where they’re having to go out and find new people and train them, and you’re just working with limited resources. And you don’t want your people working on manual, mundane tasks that the computer can do faster and better and cheaper. Have them working on the strategic projects that add more value to your business. And that’s how these three different things work together.
Automation, things like our Suite Banking capabilities, which get rid of a lot of the drudgery of dealing with cash management, to then free you up to spend more time sort of strategically looking at insights. What’s happening in my supply chain? What’s most important to me, and how do I make sure that I can deliver as well as possible for my customers, and then have the ability to pivot based on these new plans that you make from really looking at the data, and those are how those three different, we call them super powers, work together to make you a true superhero.
Brent Leary: Well, I think we all could use a superhero in our life with all that’s going on right now. How have your customers fared during the pandemic, and how ready are they to take these super powers and actually put them to use?
Evan Goldberg: We have so many really interesting stories of companies that made pivots that may have looked temporary but are turning permanent. Certainly dealing with a hybrid workforce, I mean it was all remote. It’s starting to shift to some remote, some in person. How do you keep that collaboration level going, and the collaborative tools look like they’re going to have a lot of legs to them, because you’re just going to have a more diverse workforce in all ways. I think a permanent trend. Selling through new channels, sometimes disintermediating how you really thought you were going to be delivering to your customers.
You may have delivered through retail stores, well that obviously wasn’t going to work for a while, so let’s start selling direct to consumer. And lo and behold, that’s proving for a lot of companies to be very effective. And as stores come back, of course they still want to be in those stores and they still want to utilize those channels, but as a result of their having increased sales online direct to consumer, they’re like, “I’m going to now diversify my sales.” Makes the business more complicated, and again, that’s where we think that NetSuite can really help.
Brent Leary: It’s been several years since Oracle acquired NetSuite, and I think I saw as part of your Keynote, where your customer base has gone from 11,000 to 27,000 or thereabouts since that acquisition. So you’ve got a significant amount of customers, more customers, and they seem like they’re spread out all over the world, so you’re definitely more global than you were before the acquisition. How has being a part of Oracle changed the relationship you have with your customers?
Evan Goldberg: When we became part of Oracle we started something called advanced customer support, which is a service where someone can be consistently there to help you get the most out of NetSuite. We’ve done that long enough that we have developed these playbooks for the big transitions that companies make, whether it’s going international, entering the public market, different kinds of supply chain… again, adding direct to consumer to your mixed channels. We’ve seen this enough times that we can kind of bundle it up and provide best practices, and do it more efficiently for us and more effectively for our customers. So that’s certainly one of the things that the scale has provided us with.
Oracle itself has great technology that we can leverage. We obviously leverage Oracle’s database technology. We’re leveraging their infrastructure. One of the things we’ve been able to do is go global really quickly in terms of where we operate NetSuite, so we have new data centers in Europe and North America and Asia, so that’s been great. And then we have products that we provide customers that really were only possible because of our close relationship with our colleagues at Oracle. So one that we announced this week is the NetSuite Analytics Warehouse, which is based on Oracle’s data warehouse technology, which allows you to take your NetSuite data and sort of mash it up with other data that’s important to your business. Could be data from your website, could be data from your own operational systems. I mean, companies are awash in data now, but actually leveraging that data. That’s what we’re talking about with insights, seeing behind this data.
And we have great examples of customers who are doing this already. They’re taking their Google Analytics data from their website, and figuring out how people browse the website impacts or is impacted by various things that are in NetSuite, and tying those two different sources of data together. So that’s been a great result of the collaborating with Oracle.
Brent Leary: I’ve heard the term customer 360 used by a lot of different vendors in a lot of different kind of contexts. But for the first time, I heard you talk about it recently. What does customer 360 mean from a NetSuite perspective?
Evan Goldberg: We feel we have a lot of credibility there, because our whole mission has been to provide a single place for all your key business and information. One place you can go to know what you need to know and do what you need to do to grow your business. And so we have this rich set of data about customers, and if you adopt a significant portion of a suite, you’re going to have financial data, sales data, service data, web data, and tying that all together on an individual customer basis is sort of what that’s all about. Getting all the news that’s fit to show on the screen about that customer. What’s happening lately with that customer, what are some of the top headlines, are they a profitable customer, are they a growing customer, are there issues that a salesperson needs to know about in terms of shipping or other things so that when they call that customer they’re really knowledgeable about it? And so it’s really just a reimagined user experience around the data that sort of has always been in NetSuite.
Brent Leary: And when you talk about all the different kind of pieces, data pieces that you have from a variety of perspectives that go beyond just kind of what people traditionally think about when they think about customers, how does that help NetSuite help your customers even more?
Evan Goldberg: Regardless of what your role is in the business, if you’re a person who interacts with customers, the more knowledgeable you are about the entire customer journey of the customer that you’re dealing with, the better you’re going to be able to empathize with them, the better you’re going to be able to provide great service. And ultimately, I think the biggest leverage point that companies have to create that lifetime customer loyalty are those interactions, those personal interactions you have with the customer. And you can turn around in a heartbeat a soured customer relationship if handled correctly, and definitely to handle those situations correctly, you need to be armed with all the information that is behind whatever your customer is sort of feeling about you at that particular time.
This article, "Evan Goldberg of Oracle NetSuite – Everybody was moving to Just In Time inventory, but that’s not possible in many cases now" was first published on Small Business Trends
In the News: $23 Million PPP Fraud Case Ends in Guilty Plea
The US Dept. of Justice recently closed the latest PPP fraud case, agreeing to a plea deal with a Liberian national.
In the $23 million fraud case involving monies illegally gained through the Paycheck Protection Program, Steven Jalloul, a 43-year-old tax consultant from the Dallas area, admitted to defrauding lenders to get more of the money.
The PPP loan was launched last year to keep small businesses afloat through the COVID pandemic. While it did benefit millions of businesses nationwide, it was vulnerable to fraud. And now it appears the government is finally catching up with some of those who bilked the system.
This plea deal comes soon after the first criminal sentence was handed down in another COVID loan fraud case.
For more on our top story, check out: Liberian National Pleads Guilty to $23 Million PPP Fraud
Small Business News – October 29, 2021
Here’s what else is happening for small business owners this week from our regular news roundup:
Current Food Shortages – What Your Business Will Have Trouble Getting Right Now
Food shortages and delays have been reported across the United States, pinned, in part, on rising consumer demand amid the easing of coronavirus restrictions. The supply chain issues the US economy is currently facing are not only impacting consumers, but they are taking their toll on small businesses.
Which States Have the Most and Least Amount of Cyber Crime?
Avoiding falling victim to cybercrime can be a daunting challenge for small business owners. Knowing the areas where cybercrime is less prevalent can be an invaluable step in averting being subjected to online crime.
Small Business Grant Opportunities for Women and Minority Entrepreneurs
Accessing capital has been historically difficult for women and minority business owners. One way these entrepreneurs have overcome this particular challenge is by applying and receiving grants from private and public entities. Look at what is currently available.
Is Using Slang OK in Business? New Survey Results May Be Surprising
Is using slang in a business environment acceptable or objectionable? To uncover thoughts about the use of slang in business, Preply, the online educational platform that pair students with tutors remotely, carried out some comprehensive research.
Business Warrior to Offer $5 Million in Small Business Loans
Business Warrior has announced it is offering $5 million to small business owners that are having a hard time getting loans from traditional banks. The company will provide loans from $5,000 to $50,000 without the exorbitant rates cash advance companies charge.
SBA Critiqued as Nonresponsive and Slow to Answer Questions
In separate letters, members of Congress wrote to Small Business Administration Administrator Isabella Guzman, saying the SBA response to questions from small business owners has been nonresponsive and slow. Last week, Representatives Patrick McHenry (R-NC) and Blaine Luetkemeyer (R-MO) forwarded letters to Guzman.
Facebook Launches New Tools for Small Business Ahead of 2021 Holiday Season
The holiday season is approaching, marking a vital time for small businesses. To help businesses make the most of a period where many retailers expect to make more than half their annual revenue, Facebook has launched a new set of tools.
Women Responded to Pandemic by Doing More Ecommerce Business
Women have responded to the pandemic and its unprecedented disruption by doing more eCommerce business. Research finds that eBay has been a primary driver in creating an environment for equitable entrepreneurship for women.
How to Pay Yourself as a Business Owner
Here’s the dilemma for business owners: the business is growing and you’d like to invest some of the profits back into it. But, you’ve been working long hours and need to earn money. Where’s the balance? As a business owner, how should you pay yourself? And how much? How do Small Business Owners Pay Themselves? Small owners have choices in how they pay themselves.
5 Pending Changes that Could Impact Year-End Small Business Tax Planning
Congress has been debating a number of big bills that contain tax changes. Some of the proposed changes are favorable; many are not. All of them may affect your bottom line. Final tax changes may not be known for weeks, and many won’t take effect until 2022. Nonetheless, pay attention now…year-end tax planning may be completely different this year than in prior years.
How to Edit a PDF
Portable Document Format (PDF) is one of the most popular mediums for sharing electronic information. It was designed by Adobe Systems in the early 90s to be the equivalent of digital paper, and PDF has since been used to share the content of many types. People rely on the PDF format because the files are smaller in size than their source documents and they preserve the original formatting.
Image: Depositphotos
This article, "In the News: $23 Million PPP Fraud Case Ends in Guilty Plea" was first published on Small Business Trends
What You Should Do After Car Accident
Make sure the attorneys you hire have specialized experience in car accidents, as this can go a long way in determining how successful your lawsuit is
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Thursday 28 October 2021
Current Food Shortages – What Your Business Will Have Trouble Getting Right Now
Food shortages and delays have been reported across the United States, pinned, in part, on rising consumer demand amid the easing of coronavirus restrictions. The supply chain issues the US economy is currently facing are not only impacting consumers, but they are taking their toll on small businesses. Businesses that require a robust supply of food, such as restaurants and cafes, are beginning to feel pinch of the shortages.
The most recent US Census Small Business Pulse Survey, carried out from October 11 to October 17, shows that 45% of businesses say they are experiencing delays with domestic suppliers. This represents a 26.7% increase from the first week of 2021.
Certain regions of the country are more adversely affected than others. As Kevin Hourican, Chief Executive Officer of Sysco, the largest wholesale food distributor in the US, comments:
“There are certain areas across the country that are more challenged by the labor shortage, and our volume of order is regularly exceeding our capacity. This has, unfortunately, led to service disruptions for some of our customers.”
Current Food Shortages
Specific products are also more difficult to find.
Take a look at 15 food items that are currently difficult to find in the US.
Turkeys
With the holiday season approaching, turkeys are in hot demand. With factories being forced to shut last year due to the pandemic and grain prices soaring, amid strong consumer demand, getting hold of turkeys is proving challenging for small business owners.
Canned Food
2020 saw many manufacturers impacted by an aluminum shortage. With consumers stockpiling canned food, alongside the continued shortage of aluminum, canned food is in reduced supply.
Ketchup Packets
It’s safe to say, most fast food restaurants rely on ketchup packets to accompany burgers, wings and nuggets. Several restaurant chains have reported a shortage of Heinz ketchup packets, the US’s number one ketchup brand.
Carbonated Drinks
Small businesses that serve fizzy drinks are likely to be facing issues. Due to rocketing costs, fertilizer plants responsible for the production of carbon dioxide, are reducing their output, causing shortages in carbonated drink supply.
Pet Food
Small businesses that deal in pet food may be experiencing similar issues. The reasons for the diminishing supply of pet food are attributed to higher meat, soya, and corn prices.
Chicken
Like turkey, chicken is also in short supply, resulting in many fast food restaurants cutting back on the chicken products on their menus. The shortage is now impacting grocery stores, which are struggling to find chicken suppliers.
Pumpkins
Small businesses that deal in pumpkins may run into problems locating sufficient seasonal stock, particularly in Illinois, where the spread of fungus on many pumpkin crops had an adverse effect.
Oat Milk
Another product facing supply issues is oak milk. With the likes of Starbucks and FreshDirect announcing a temporary shortage of oat milk, small businesses stand even less of a chance securing this popular beverage.
Beef
Another meat in short supply is beef. In June this year, one of the largest beef suppliers in the world suffered a ransomware attack, and, as a result, beef is in short supply in many grocery stores.
Bottled Water
Businesses that supply bottled water are also running into problems, with the likes of Costco reporting shortages of bottled water.
Lunchables
Lunchables have seen a huge rise in demand, placing pressure on supply chains to provide stores and food outlets with the Kraft Heinz products they sell.
Liquor
As NPR reports, in lockdown, demand for alcohol skyrocketed among consumers. With stock low, some liquor stores were forced to close. Several states are still witnessing an alcohol shortage, putting pressure on many small businesses who sell alcoholic drinks.
Bread
With a scarcity of wheat crops due to droughts and erratic temperatures, the price of bread has seen a sharp rise, something that is having an impact, not only on consumers, but on many small businesses too.
Toilet Paper
One of the first products to be hit by the pandemic due to soaring consumer demand was toilet paper. Industry has yet to keep up with demand, meaning many small businesses may be running into problems acquiring toilet paper.
Frozen Meals
Consumers have been rushing to get their hands on frozen meals throughout the health crisis. Small businesses that supply frozen meals may still be having trouble securing the product.
Image: Depositphotos
This article, "Current Food Shortages – What Your Business Will Have Trouble Getting Right Now" was first published on Small Business Trends
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