Predictions for 2017 -- Changes in Business Technology

Every time a year comes to an end, the entire business technology responds with some incredible anticipation and optimism. It never matters how bleak or uneven things were in the previous year; there is always a great anticipation about the brand new year.

The year 2016 is almost coming to an end there is a great hope of great and massive boom in business technology come 2017. Augmentation and technology revolution in the business continue to barrel forward with emerging and disruptive trends escalating every single day. With startup taking over, current businesses have started sporting environments that are rich with the adoption of technology. The emergency of digital transformation globally has helped in reshaping almost all aspects of firms. Herein are some of the expected business technology predictions for the year 2017.

Wireless technology will become the new norm

Hybrid wireless technology will ensure connection of two or more devices and provide a seamless experience for users. Wireless technology has already been adopted by some companies such as Apple which has already launched the iPhone 7 that allows wireless headphones, and they are in line to launch iPhone 8 which is expected to have a wireless charging capability. There is great anticipation for 2017 as other companies want to join in on producing wireless technology as well. Internet and cable providers are also planning to provide wireless services come 2017. Wireless tech will continue to be an essential amenity for most dwelling units.

Internet of things (IoT) will create valuable customer experience

With the latest tools of technology expectations from customers has considerably increased and most firms are looking for a way to ensure that their clients get satisfying experiences from them. IoT is significant in ensuring that this is possible. Thus, it is expected to exceed most customers’ expectation and become valuable. Companies will ensure that customers become smarter through the use of IoT services.

Big data will be a great influencer

Implementation of big data to all organization will become paramount to most firms in the year 2017. The implementation will lead to major upgrades for efficiency and speed with technological change to companies that will have improved data storage. Big data storage will also create a competitive advantage for most companies.

Mobility domination

The mobile workplace is looking forward to becoming the new norm trending come the year 2017. Most businesses have already adopted the current trend of Bring Your Own Device (BYOD) and year 2017 will show most firms coming up with strategies to make the most out of the trend. Technology is becoming more mobile making it tough for firms to restrict workers from using their own devices and this will enhance productivity. Cloud-based service will ensure that firms overcome the challenges of mobile technology integrating with their systems. Driven by the mobile technology trend, cloud computing will enormously become popular in the year 2017.

5 Challenges Tech Startups Face

To most of the entrepreneurs, technology has become their industry of choice. It is a wide, fast-growing field attracting ventures and investors capitalists with an enormous payout potential if the startup succeeds. The attraction of launching tech startup is very easy to understand though startups fail to consider the unique risks they are likely going to face in the competitive world of technology. Herein are some of the challenges most tech startups are likely to come up against:

1. Rapid technological change

   Constant change in technology is the greatest challenge facing most tech startup which can kick them out of the market. There is a lot of pressure to most tech entrepreneurs to move quickly and overcome the fierce competition in the world. If you can’t execute an idea fast enough, the window of opportunity for your product may close even before it is ready for the market.

2. Hiring employees

   It is paramount to most tech startup to hire too many people before they can get ready in the market and this can be a big challenge for most startups. Tech startups are the fastest growing business and are attracting a huge amount of funding though it is very hard to accommodate such a growth well. These startups are notorious for hiring too many workers prematurely and over scaling which leads to its failure. New tech businesses also face the challenge of being unable to attract top talent employees into the startup environment. These challenges usually affect startups because of their limited cash flow.

3. Cyber risks

   Nearly most of the businesses entirely depend on the web, other businesses such as retail stores don’t have the same kind of cyber security as tech startup operating online. Most tech startups serve the business to business market meaning that other firms highly depend on them in order to run their own businesses smoothly. Since tech firms provide a service or product that helps other entrepreneurs perform, they are open to risks of errors, omission, and other exposures.

4. Fierce competition

   Tech startups face a steeper competition than most of other startups in other industries do. The competition is fierce because of the relatively low barriers to entry. There are so many opportunities to most tech entrepreneurs because most of the customers in this industry are always ready and willing to try new and untested technologies in the market. Because of the rapid growth in technology, there is always a tough competition among tech startup and other established businesses that come up with newer, better, and cheaper products. However, startups normally have a great reward when they find a niche market and differentiate themselves from their competitors.

5. Inability to attain initial goals

   Because of the rapid growth in technology most tech startups face a stiff challenge of being unable to attain their initial goals hindering them from completing what they had initially set in their startup. Due to this growth, startups refuse to accept failure in their business and the changing directions and let their business just to lie stagnant. In the world of technology, it is important for startups always to try again if they fail and try to achieve their goals much faster.

Why Should Startups Hire Consultants When Starting Their Business?

Consultants are a team of experts in a specific area of business who transfer knowledge to companies at a fee. Some startups are devoid of several essential skills and expertise needed for the proper running of various departments. These experts provide informed advice on specific issues that could be dragging the business down. Once the problematic area is resolved, the consultant leaves the startup in a better place and more likely to succeed in the area.

Present a third opinion

It is sometimes hard for the startup owner to realize that they are making a mistake because they are relying on their own thinking. A consultant evaluates their ideas and goals and gives an expert opinion. The consultant also comes in handy in family-run startups where a radical idea may create disharmony in the running of the business.

Provide expertise at lower price

Most startups are cash strapped. They do not have enough money to hire and maintain highly skilled individuals in each area for business. Fortunately, they can rely on the consultants when they need expertise in dealing with a matter at the business. The consultant only charges for the specific task. Thus, he is cheaper than hiring staff.

Temporary replacement

A consultant can fill the role that has been left open by a worker until you have found a replacement. This is important especially in cases where the job is critical to the running of the business, and the hiring process might take too long for the temporary fill.

Support the transition

Transitions are common in business. The startup could be adopting a new management system, changing locations and business model, changing the business structure, or buying off another business. The changes have a negative effect on the working of the staff. A consultant helps in managing the change and transition to new ways of doing business so that it has little negative effect on the workings of the company.

Support of projects

Consultants assist in ensuring that business projects such as buying and commissioning of new equipment or buildings are done as per the business and legal requirements. This saves the startup from wasting time on projects that it has no expertise in while ensuring that quality standards are met.

There are consultants in accounting, marketing, human resource, IT, building and construction, and legal among others. Startups should identify the area of weakness and seek the assistance of a consultancy.

New Zealand Approves Drone Deliveries

There's a major buzz encompassing some companies utilizing drones for delivery-related tasks. A few companies have begun actualizing and testing drone delivery services. Whatever the situation, more often than not this thought is looked upon as just a dream not prepared to be satisfied soon enough. It has become a reality for some cities in the world and drone delivery has been used in those cities for some time now, as delivery time is drastically reduced when compared with using drivers that often get stuck in traffic. Companies that are already using drones for delivery have their productivity to show for it since more customers can receive what they ordered for within the shortest possible time. To further look into drone delivery, let's consider some major providers of the drone delivery service today.

Drone Delivery in New Zealand

New Zealand has approved the use of drones for delivery, and the first drone delivery was over Auckland, which most people were amazed by. Although it was the coordinated efforts of two companies to make it possible, the successful delivery has given a new meaning to drone delivery in general; since it was only seen in theory in the past. Actualizing this dream is a step in the right direction because now more companies are beginning to appreciate the possibility of integrating drone delivery services to their delivery processes, which is guaranteed to reduce cost and save time.

The Amazon Prime Air

Amazon has been handling orders from millions of people from all over the world for several years now. The company has become a household name for online shopping and also in Information Technology with products such as the Amazon Web Services (AWS). The company has Prime Air, where packages are sent to online shoppers using drones. Like any other company utilizing this delivery method, Amazon has been reaping the benefits. With the approval of the Federal Aviation Authority (FAA), Amazon was able to expand its delivery services using drones, which deliver packages than delivery vans.

Google X Venture Wing

Google is another company that is taking a shot at automated delivery using flying vehicles. Google has been doing this for some time now, with the first announcement in August 2014. The drones used by the Venture Wing project take off vertically and carefully rotate to a stable horizontal position for flying around in the city. The drone hovers and drops the package to the specified address.

The future of drone delivery

Delivering packages using drones is a process that is here to stay and although there are some challenges that come with it, the benefits overweigh those challenges. Using drones to deliver packages to your customers simply means you need to get approval from the authorities, depending on the country you wish to carry out drone delivery. Tall buildings and skyscrapers are often seen as obstacles to drones, considering the fact that there is a limit to how high they can fly. Generally, the process makes things easier for the delivery companies since delivery time is drastically reduced, keeping the company more effective and the customers happy.

How to Make an Interactive Voice Response System More User-Friendly

An Interactive Voice Response system (IVR) is very useful to both customers and businesses. It is the system that is used when you make a call and hear, “To reach billing, press 1; to reach accounts, press 2…”

To clients, the system is usually fast, can be accessed at any time of the day or night, and simple to follow. To the business, the system is cost-effective, effective, accurate, and solves the problem of how to sort through high volumes of calls.

However, a large number of clients still prefer interacting with live personnel as opposed to an IVR system due to the following:

• It can take a while to arrive at the right option
• They seem not to understand what the voice prompt is saying
• The solutions offered do not match with their needs

Most of the IVRs have so many prompts that can be confusing, which make impatient callers irate. Moreover, some have to repeat the verbalized menu due to poor voice quality or forgetting which number to press. To eliminate the problem, most press the ‘0’ button to talk to customer service members. Unfortunately, they are put on hold for several minutes or moved from one department to the other, as their call is not sorted by the IVR. They end up hanging up in anger after wasting several minutes. These customers later vent the anger on the social media and forums messing up the brand reputation.

Organizations can escape the problem by designing an IVR system that is able to meet the needs of all the publics including the clients, customer service agents, and the IT personnel. Here are some easy ways to achieve this.

• Know what the customers need most and design a menu that captures the needs accordingly. Get rid of menu options to problems for which they rarely seek assistance.
• Do not automate all solutions. Overstuffing your system with an IVR only makes it confusing and cumbersome. Have call center agents to deal with more complex and creative problems with your products.
• Keep the voice prompt language simple. Use a friendly tone in the voice prompt. Avoid the industry jargon as well as unfamiliar acronyms. Moreover, use concise sentences for menu items and following explanations.
• Identify the callers by name. If callers use numbers stored in the database, have the IVR address them by their names. If not, design an IVR system that can capture their names when they identify themselves.
• Go visual in IVR selection. Customers are more likely to use the IVR when they get a visual interactive menu either on the website or on their phones. It makes it easier to navigate through a complex menu. Include an option to have them called by an agent later.

7 Biggest Challenges Entrepreneurs are Bound to Face

Entrepreneurship is a wonderful option for those who are driven and dedicated, and that is why there are about 50 million new startups every year. However, it is not always a smooth ride once the business has started. Here are common challenges faced by startup entrepreneurs.

1. Fierce competition
   There are very few startups that are joining an industry without competition. Competition is getting tougher each day with companies trying to outdo each other for a bigger chunk of the market. The business owners should be aggressive and innovative in marketing their products.
   
   
2. Cash flow problems
   Every business requires a stable cash flow for survival. Unfortunately, many startup owners struggle to pay their bills and those of the business when clients delay their payments. Business should ask for a down payment and put in place a budget to help maintain a cash flow.
   
   
3. Inability to manage time
   Entrepreneurs have to wear many hats at the workplace. This takes all the time for critical tasks. This often leads to delay in service delivery and not meeting set deadlines. To eliminate the problem, entrepreneurs should set goals and follow them to the T, delegate tasks when possible, and assure every single deadline is met.
   
   
4. Choice of products to sell
   Most startups end up lost in the huge variety of the products for sale in different niches. This often leads poor sales and lack of proper goals. It is important that startup owners do a market research on possible gaps they can fill in line with their strengths and capabilities.
   
   
5. Lack of capital
   Many entrepreneurs have great ideas for the business but have little capital to start the ventures. They end up not starting at all. Entrepreneurs should seek various methods of funding in the business field and go for the less risky options wherever possible.
   
   
6. Management of the business
   Most entrepreneurs are managing an entity for the first time. Thus, they face many challenges when making decisions on various issues concerning the business. Sometimes they make grave mistakes that bring the business down. Consultancies can help in coming up with proper decisions especially in the critical areas of the business.
   
   
7. Hiring the right employees
   The employees are a business’s most important asset. They produce the goods and services and are a market touch point. Thus, having employees with the right qualities is a plus. Unfortunately, most startups do not know what skills and personal attributes are needed at the workplace when hiring. Entrepreneurs could remedy this by seeking the assistance of human resource consultancies in coming up with job descriptions and the hiring process.

5 Reasons Why its Difficult to be An Entrepreneur

Everyone in the working world thinks that entrepreneurship is the way to go. It is a great option until you consider the challenges that entrepreneurs experience in order to put their business together. Here is why it’s difficult to be an entrepreneur.

You do not get time off with yourself
Entrepreneurs do not rest. They are either in their businesses or thinking about the businesses. This is unlike the career people who are able to get some time off after leaving the office for the day. Most entrepreneur’s spouses and families decry the lack of time to spend with their partners as they are always focused on their business.

You have to do everything
Before you have set up a team to look at different functions of the business, you will be forced to do everything from writing sales copy to invoicing customers. Of course, you may not enjoy all these responsibilities but you will be forced to do them.

You will not be able to stop yourself from doing it
It feels so awesome to be an entrepreneur. The idea of running a successful entity is a powerful magnet that gets you up and running each morning. Even in the cases that the business fails, you will find yourself picking up the pieces and trying it once again. It hurts to keep going to the same pain while you cannot stop yourself.

The government does not give you peace
The government will always be on the other side of the coin. It will keep blasting you with healthcare costs and tax increases on almost a yearly basis, permits, workers’ relations regulations, state audits of our business finances, compensation claims and so much more. You will spend much of your time trying to ensure compliance or negotiating with the government who has an upper hand in the negotiations.

There is always uncertainty
The future of your business is never guaranteed. What if there is a great slump in sales in the fourth quarter and you have a loan that you are repaying? What if someone comes up with a better product? What if a client sues me for injuring himself with my product? What if the bigger competitor tries to buy me off? Insurance does not pay for such things as reputation, acts of God, or any other uncontrollable thing that can damage your market. You live with this worry as long as you are an entrepreneur.