How the Cloud can Revolutionize Your Business

Is your business on the cloud? If you’re like many business owners, you’re sick of thinking about the cloud. After all, your business has done just fine with its own servers, communication, and other data systems so far.

Why should you get on the cloud? Here are a few reasons to stop dragging your feet and think seriously about putting your business on the cloud.

Easier and More Affordable Communication

A hosted VoIP system from votacall.com enables you to establish and maintain a sophisticated communication network to stay connected with your employees, clients, and contractors wherever they might be.

This cloud phone system will eliminate your concerns about technical issues end stop you from having to deal with long-distance rates. Putting your communication system on the cloud will make it so much easier for your business to stay in touch with everyone you need to talk to.

Keep Data Secure

Do you assume the cloud is a less secure way to store data? Increasingly, this assumption is the opposite of the truth. In fact, cloud storage that is managed by a competent company is actually much better at spotting and eliminating hacking attempts.

Furthermore, cloud storage is not vulnerable to attacks from internal characters like disgruntled employees as an in-house system is. If a natural disaster affects the physical location of your business, you can be confident that data is safe and secure on the cloud.

Make Information More Accessible

In today’s business world, it is much less common for everybody in your company to be located at one office location. You probably have employees nationwide or even worldwide. Some of your employees likely work in the office building while others work from home. Most of your employees probably spend some time working at home and some time at the office.

If you don’t allow employees to work from home, you may be missing out on talent that you could have attracted by offering this option. Putting information on the cloud allows everybody at your company to access and work on it as they need to so, wherever they might be.

Make Your Business Better on the Cloud

If you’re not in the cloud yet, you’re probably holding out, either because you’re suspicious of cloud systems or because you’re procrastinating about making such a huge change in your business.

However, the truth is that the cloud is the future. Putting your business on the cloud can improve communications within your company and with outside clients and contractors, keep your data more secure, and make information accessible to all of your employees whenever they need it.

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3 Ways to Ask For Time Off

Unless you have chosen to start your own business, no matter where you work, requesting time off can be scary. Whether you need time off to recover from bone spur surgery or just want to take a vacation, it is inevitable that you will need to take time away from the office at some point during your employment. No matter what your reasoning for requesting time off may be, speaking to your boss about this issue can be a daunting task. If you need to request time off work in the future, here are a few tips for doing it the right way.

Review Your PTO Policy

Before asking your boss for time off work, make sure you have a thorough understanding of your company’s paid time off policy in order to determine if your request is reasonable. How many days off are you allowed per year? How many have you used already? If your PTO is limited and you’ve already used a lot of it or have called in sick a few times this year, it might not be reasonable for you to request two weeks off work for a vacation next month.

Determine How to Have the Conversation

Many workplace experts advise against asking for time off over email or text, as having the conversation in person appears more professional and shows respect. While this is true in some capacity, it is also important for you to consider your boss’s busy schedule and evaluate how they prefer to communicate with employees in order to best respect their time. If your boss rarely meets with employees one on one and prefers to communicate most issues via email in order to conserve time, asking for time off in this way could be your best option.

Give Relevant Details

When asking for time off, it is important for you to be honest with your employee about the reasons you are taking time off in order to avoid complications in the future (it would be unfortunate to say you need time off to visit family in your hometown, only for your employer to see social media pictures of you on a tropical vacation). While giving details is important, remember that you only need to share relevant details with your boss, or details that are needed to help him or her make a decision regarding the time off you receive.

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4 Ways to Curb Boredom At Work

No matter where you work, you likely have some work days that just seem to drag on with no end in sight. When this happens, it can be easy to get distracted, but the truth is that falling behind in the workplace is likely to make things worse. Whether you work as a teacher or for a medical clinic like ThriveMD, fighting boredom at work can be tough.  Here are 4 easy ways to make your workday go by faster while remaining productive.

Get Moving

Break up the monotony of your work day by taking a break from your desk and allowing yourself to get moving. Studies have shown that staying active throughout the workday can increase energy levels and can work as a natural mood booster, making you feel happier and ready to resume the rest of your workday free from distractions. Take a short walk once or twice throughout your workday (try one before and after lunch), and stand up at your desk to stretch as often as possible.

Pack Snacks

Snacking throughout the workday can not only curb hunger and boost energy levels (depending on the snack), but keeping a treat on hand can bring a little extra enjoyment to your workday. Leaving a snack or two at your desk will ensure you always have something to look forward to throughout your workday!

Play Your Favorite Music

Putting in headphones and listening to your favorite music during the workday can keep you entertained while helping cut out distractions, making it easier than ever for you to focus on your work. Studies have also shown that listening to music during a long workday can help you re-focus, making it the perfect practice for a seemingly never-ending workday when you find yourself unable to keep working. Try making a playlist ahead of time that will last the entire workday, so you don’t find yourself getting distracted while attempting to change or select a song.

Switch Up Your Routine

If you are in the habit of following the same routine throughout each day at work, switching things up can help make your workdays seem better and go by faster. Feelings of boredom can come when you feel like you’re stuck in a rut, doing different tasks each day or at different times throughout the week is a simple yet highly effective way to keep your workdays feeling new and exciting.

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How to Go Online with Your Brick-and-Mortar Store

E-commerce is booming, so many brick-and-mortar businesses show a keen interest in expanding their operations online. Going online allows businesses  to vastly increase the number of customers and sales because the internet is a big market. Moreover, quick delivery services make it easy for physical products to move from warehouses to the customer’s doorstep, regardless of location.

Placing an order online is quick and easy. As a result, businesses that offer customers the option to purchase products from the convenience of their homes experience fast and steady growth.

If you have a physical store and want to start selling online, read on to discover a few essential tips.

Build an Online Identity

The first tip is to build an online identity for your store to improve your visibility. Give your website a major overhaul to prepare it for online shoppers. In addition, consider creating social media pages. Publishing content consistently about your products can bring more eyes to your business.

At this stage, the most important thing is to create a rich, immersive experience for visitors. Adding high-quality photos and detailed descriptions of your products can help ensure your site will make a great impression. The more information you add, the more trust your brand will inspire.

Invest in Dedicated Automation Tools

The popularity of e-commerce has led to a boost in services and products designed to help businesses thrive in the digital landscape. Some sectors and niches are more innovative than others. Yet, it’s safe to say that you can find many automation tools that can drastically reduce the costs of your effort. Dedicated automation tools can help you streamline operations and provide an exceptional customer experience. Thus, they make the online shopping process easier for both sellers and buyers.

For excellent results, look at automation tools specifically designed for your niche. Selling custom cabinets online is straightforward with cabinet software  built for businesses like yours.

Create an Online Marketing Strategy

There’s a lot of potential on the internet, but the competition for attention is fierce. It’s not enough to be present online. You must also ensure that your target audience is aware of your presence. Digital marketing is a fundamental tool for finding success online, especially if you want to expand your operations beyond the local market.

The main idea of digital marketing is to give customers the chance to discover your products in an overcrowded digital world. A great online marketing strategy will bring visitors to your website and followers on social media. It will increase your reach and help build credibility. The result is a bigger customer base.

Physical stores can significantly increase their sales by going online. However, despite the overwhelming boom in e-commerce, selling products online is not easy due to the low barrier to entry and increased competition. Businesses that want to go online must invest in the right resources to boost their chances of success. The impact on revenue can be substantial as long as everything is set up well from the start.

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4 Ways to Improve Your Relationship with Your Boss

Unless you’re ready to start you own business, then this article applies to you!  In today’s workforce, it is more important than ever to have a healthy relationship with your boss. Since your boss has the potential to shape your entire career and to determine the level of happiness and comfort you experience in the workplace, it is important to maintain positive communication with them.

Here are a few simple ways to improve your relationship with your boss.

Ask for Feedback

A great way to let your employer know that you are engaged with and passionate about the work you are doing and committed to learning and making corrections where necessary is by asking for feedback about your work. Many people shy away from asking for feedback from their boss due to the unknown circumstances surrounding such a conversation, but it is important to remember that even negative feedback can be turned into a positive as it can tell you exactly what areas you need to improve – plus, asking your boss for feedback directly shows that you care and you are less likely to receive negative feedback in this situation than if your boss had to come to you with feedback first.

Communicate Effectively

The key to maintaining positive communication with your boss is by determining how they best communicate in certain situations. If your boss is the easiest to reach via email or text, this can be a good way to relay information or to ask for in person meetings if needed. If your boss is always in the office and accessible to employees, dropping by their office might be a better option than clocking up his or her inbox or messages. Determining the best way to communicate can help you get off on the right foot when you need to have a chat with your boss.

Let Your Boss Know What You Need

If there are any aspects of the workplace or your personal work load that can be improved, be sure to let your boss know. Whether you need a new desk setup or could benefit from some additional training from HSI, be sure to let your boss know what you need before your work is hindered.

Offer to Help

Make it a habit to frequently ask your boss what you can do to help them or other coworkers, especially if your workload is lighter than others or if you find yourself finished with a particular project or with an excess of spare time.

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Is Minneapolis a Good Place to Start a Business?

If you’re an entrepreneur who has just moved to Minneapolis, you might be wondering whether it’s a good place to start a business.

It’s always an idea to gauge the current job market and discover where there are potential gaps that you could fill with a future business. By looking at the job market in Minneapolis before your move, you can figure out which business might be the best option.

There’s a thriving market for almost any industry, from fashion to fitness. The residents are keen on supporting local businesses so you can rest assured that you will be backed from day one.

There are over 30 million small businesses currently operating in the city of Minneapolis and more entrepreneurs are creating new start-ups every year. So, why not join these inspiring entrepreneurs?

The question on your mind is probably, is Minneapolis actually a good place to start a business?

Should You Start a Business in Minneapolis?

The Northern city of Minneapolis, Minnesota, is ranked highly on the list of the best cities to start a business in the United States. It is well-known for its thriving corporate climate. It’s also home to the largest shopping mall in the country.

Minneapolis is also a great city for small businesses, making it perfect for entrepreneurs like you! No matter what industry you plan on entering, the opportunities are ample.

Minneapolis has a fine balance of both urban and countryside scenery. It is full of local, family-owned restaurants, cafes, and breweries, but is also home to a number of outdoor businesses. For example, if you’re planning on setting up a hiking business or a retail store that sells outdoor equipment, there’s definitely a market for you.

Where Does Minneapolis Rank Compared to Other States?

Minneapolis ranks number 21 on the list of the best cities for start-up businesses. Although it doesn’t rank as the number 1 city on the list, it’s well within the top 50.

The unemployment rate in the city is low at just 1.5%, and the cost of living is affordable. This enables you to save money while building your business empire.

It’s Time to Create Your New Business!

If you’re not yet convinced to set up your new business in Minneapolis, then we don’t know what else you need to hear! Minneapolis ranks in the top 50 cities for start-ups in the whole country and you are almost guaranteed success if you decide to enter into business in the area.

Be sure to learn about the Minneapolis employment law if you make the decision to start a business in the city. Even if you are already operating in other states or cities in the country, the rules and legislation around employment and labor will be different.

There’s plenty of information online but if you would like professional advice about employment laws, get in touch with an employment attorney. They are experts in this area of the law and will ensure you aren’t breaking any employment laws in your new business.

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The 3 Tips To Deal With A Toxic Workplace

There are some companies out there that have an environment that could be considered toxic. Although work should be a peaceful place where employees are encouraged to do their best, some managers are more inclined toward a system that rules through fear. This makes work difficult and downright unhealthy. In many instances, you will end up needing representation from attorneys such as the HKM employment lawyers in Atlanta to remedy the situation.

It is possible to be able to manage the situation and even turn it around. There is no way to be able to function in a toxic environment such as this so it is worth trying to fix the situation before you end up getting a lawyer and going to work somewhere else. If you’re determined to fix it then you’ll need a few tips. In this article, we will go over several ways to deal with toxic work culture.

1 – Don’t wait to address things

The best medicine is prevention so if you see signs that your workplace is getting hostile and there is far too much drama then you need to address the things that are happening as soon as possible. Waiting may end up allowing things to fester and get worse. Trying to fight it later after toxicity takes hold is going to prove very difficult.

Make sure to take things to your higher-ups and have everything well documented. You will need to be very specific about what is happening so they can see exactly what the situation is that is happening there.

It will also help to bring some of your coworkers with you to address the concerns so they don’t brush you off as simply a disgruntled employee. There is force in numbers and it will be difficult to ignore.

2 – Take a break

Once things start heating up at work it is very easy to fall into the trap of getting too caught up in the negativity that is happening there. You will end up gossiping and complaining with coworkers far too often. After work drinks turn into a rant session that feeds the cycle of negativity.

This doesn’t mean that you don’t have legitimate complaints, but there is little to be done by focusing on the negative. This means that you will need to take a step back and take a vacation or use up some sick days to deal with your mental health.

Find a way to unwind and recharge the batteries so that you are equipped to handle making the changes required to turn things around.

3 – Find a support group

Having a group that will be available to help get through this is important. If the group consists of coworkers, make a rule to not deal with drama and instead focus on what can be done to turn the ship around and make your work more positive.

If you focus on finding solutions instead of complaining then this will give you the strength to take on the challenge of creating a peaceful workplace.

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Industrial Real Estate Investing 101

The industrial sector is arguably the least glamorous commercial real estate asset class. There are no elaborate architectural design features, resort-like amenities, or high-profile addresses. Instead, industrial real estate provides practical and efficient space and is used for manufacturing, research and development, and the storage and distribution of goods. Industrial is the workhorse of the real estate space and is crucial to supporting the global economy. 

The National Association of Industrial & Office Parks (NAIOP) breaks industrial into three categories:

Manufacturing Real Estate Investing

A facility used for the conversion, fabrication, and/or assembly of raw or partly wrought materials into products/goods. This is the classic “production line” used to assemble things like cars, airplanes, or consumer electronics. 

Warehouse Real Estate Investing

A facility primarily used for the storage and/or distribution of materials, goods, and merchandise. This category also may include specialty facilities, such as cold or freezer storage for food. This is the building where your online orders are stored, shipped to and from, and picked up by delivery trucks.

Flex / R&D Real Estate Investing

These industrial buildings are designed to give their occupants flexibility in the use of the space. Sometimes referred to as flex/tech space, these buildings are an office-industrial hybrid. Many real estate professionals consider data centers to be in this category. 

Investing in Industrial Real Estate

Since most industrial buildings have a huge footprint, finding undeveloped land in/near a key distribution hub, like Indianapolis, that is/can be properly zoned is a tall order for many companies. Rather than building from the ground up (although it can and does happen), it’s often simpler to rent out pre-existing industrial space and modify the building as needed.  Leading online real estate investing platform CrowdStreet views such land limitation as a driver for rent growth, low vacancies, and increased tenant renewal rates. Many of their top industrial markets, such as Northern New Jersey, Dallas-Fort Worth, the Inland Empire, and Washington D.C., are close to large populations with excellent access to highways, railways, and seaports. 

And while industrial properties aren’t as visually appealing as that brand new hotel in Tampa or state-of-the-art office building in downtown Nashville, they’re vital to the economy. This means tenants usually sign long-term leases (five, ten, or even 20 years) that in turn should lead to stable cash flow for investors. That is one of the many reasons that industrial investment opportunities are often quickly scooped up by institutional investors. 

Industrial Real Estate Vacancy Rates

The industrial vacancy rate (meaning unleased space) was only 5.4% in Q1 2021 and since 2019 rents have increased by 4.2%. Leasing activity has jumped 26.9% since 2019, with e-commerce being the primary driver of increased demand. Over the past decade, e-commerce sales, as a percentage of all retail sales, have grown at double-digit rates and the pandemic only accelerated that momentum. This shift to e-commerce is driving up the value of the existing industrial real estate market, as well as those niche industrial properties including data centers, last-mile distribution, and cold storage. The increase in e-commerce sales, which actually requires more square footage than traditional retail to support, has driven the demand for new industrial space–potentially one billion square feet of additional industrial real estate by 2025. 

Final Thoughts on Industrial Real Estate Investing

Despite the COVID-19 pandemic and nationwide economic uncertainty, industrial leasing activity in the U.S. set new records in 2020. In order to meet this seemingly endless demand, the industrial sector needs access to land in strategic locations with enough space to accommodate its large footprints. Create a free account with CrowdStreet and get a copy of their 2021 Best Places to Invest in Real Estate report to learn more about their top markets for industrial real estate.

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How Real Estate Crowdfunding can Generate Passive Income

If you’re a long-time reader of this blog, you already know that I think passive income is one of the best ways to grow your personal wealth and find financial freedom. Today I want to introduce you to an investment strategy that has long-term potential for passive income: real estate crowdfunding.

What is real estate crowdfunding?

The term crowdfunding is likely not new to you, but real estate crowdfunding is not in the same category as sites like Go Fund Me or Kickstarter. It’s not a platform where you put your hard-earned money towards someone else’s entrepreneurial dream, just to get maybe some free swag when they find success. Real estate crowdfunding is a much more sophisticated concept, with the potential to earn something way better than product swag: passive income.

Historically, investing in real estate has largely been a rich man’s game. Most opportunities were only for the wealthy and well-connected, or large institutional investors, like pension funds, university endowments, and hedge funds. So what changed? In a nutshell, the 2012 JOBS Act took down a lot of red tape surrounding the securities industry, opening the door for real estate firms to raise money for their projects through crowdfunding platforms. As a result, individual investors gained a new way to be able to add private equity (meaning not traded on the public markets) real estate to their investment portfolios.

How does real estate crowdfunding work?

Investing in real estate with crowdfunding isn’t about assembling a giant team of landlords to share in the responsibilities of owning a property, like finding dependable tenants or fixing plumbing issues at all hours of the night. It’s a way for individual investors to contribute a percentage of the overall funding for a real estate project, alongside others who are doing the same thing. This approach affords investors access to projects that they may otherwise be unable to afford.

There are many different types of properties available for investment. Some commercial examples include apartment buildings in growing metros, hotels in the most traveled regions of the country, or even new lab space for the life sciences industry.

How does investing in real estate generate passive income?

We’ve already covered the passive part (remember, no plumbing issues or tenant complaints!), but where does the income come in? It will depend on the business plan of the deal you invest in, but generally speaking, there are two ways real estate investments generate passive income. The first is with ongoing distributions (sometimes it’s a literal check in the mail!) paid to investors by the firm behind the deal. This tends to be more likely in properties with strong tenants and steady monthly rents, for instance, an office or apartment building. The second is through a share of the final sale price of a property, which is often the case when properties are under construction or undergoing major renovations.

As always, all investing involves risk. There is always the chance the project underperforms and you lose your initial investment. You should always research any potential investment and evaluate if it will work for you and your portfolio.

How can I invest with real estate crowdfunding?

If your first thought was to google “how to invest in real estate crowdfunding”, don’t: I’ve already done the heavy lifting for you.

CrowdStreet is the nation’s largest online real estate investing platform, connecting accredited investors directly to institutional-quality real estate across the U.S. Started in 2014, they’ve earned a reputation for working with best-in-class real estate firms. Since inception, CrowdStreet Marketplace investors have invested more than $2.6 billion across 560+ deals, earning $360 million in distributions. Some of their recently funded deals include an apartment building in Nashville’s famous music row, a hotel renovation right next to the home of the Utah Jazz NBA team, and a new life sciences lab space in research-centric Boston.

Their online Marketplace, which is where users are able to compare and review real estate investment projects, is easy to navigate. What I liked the best was how much information is given about the business plan and real estate firm behind each deal. You’ll have to create an account to see all the details. For every deal, they host a webinar with the real estate firm behind the project, so you can opt into those to learn more before making the decision to invest. There’s even a live Q&A session!

If you’re ready to learn more, get started today by creating your account for free at CrowdStreet.com.

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How Data Science Can Help Your Company’s Finances

Data science is a discipline that uses various techniques and tools to extract knowledge from data. The field has become the backbone of many industries, especially fintech. You don’t have to be a data scientist to take advantage of this industry’s opportunities, but you should have a basic understanding of how data science can help with your company’s finances.

Know What You Need

The first step to using data science in your business is to get familiar with the industry and what your business does. Without assessing your company’s data, it’s impossible to determine what kind of insights can be gleaned from it. Next, you need to identify what information is most relevant to your financial success. This includes the type of questions you want to be answered and the approach you’ll take in order to answer them.

Know What Tools To Use

Once you have a clear understanding of the types of data that exist and what information you’re looking for, it’s time to set up a pipeline for extracting insights. There are different tools that can help with this task such as databases, statistics packages, spreadsheets, decision trees, and so on. It’s best if these tools are integrated into one platform so you can assess them easily.

Know What To Look At

If you’re in the fintech industry and you’ve been asked to evaluate an investment, one of the first things you might want to do is look at the company’s financial statements. These are typically listed in a publicly available document that investors can view. You might also consider looking at publicly available data for fintech as well. This can give you a clear idea of what kind of opportunities are out there and how they compare to one another.

Know Your Risks

Once you know what kind of information is out there, it’s important to think about another criterion: risk. When you evaluate an investment, you should consider if there may be hidden costs that could come into play. For example, if you don’t get your desired returns from an investment, your might have to pay back the money in interest rates instead of earning interest on your capital. If a company has a high risk associated with it, then it may be best for you to decline the deal.

Know When To Get Help

Perhaps you’re interested in using data science for your endeavors, but the discipline goes over your head. If this is the case, you might benefit from hiring a business financial consultant. Different firms, such as Cane Bay Partners, know how to use data science to make decisions about investments, business strategy, and more. This way, your team members can focus on their own tasks while an outside group takes care of your company’s data.

Because of its efficiency and potential for growth, data science is becoming the norm for financial companies. If you want to compete with the top companies in your industry, you should figure out ways to capitalize on this blossoming field.

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