Work-Life Strategies & Solutions

On the Evolution of Work Systems in the Digital Economy

Tag Archives: Business

How to Grow Your Business With Calculated Risk-Taking [Infographic]

The following content was submitted on behalf of Valpak.

Any major business move requires taking a risk. Whether you leave your corporate job to pursue a passion project, launch a new product, or partner with a new company, it can be daunting to make a drastic change. Thankfully, there’s a helpful strategy to weigh the potential outcome before taking the leap.

Calculated risk-taking involves carefully considering the pros and cons of a decision, with a thoughtful plan behind it. There are helpful steps, tools, and tactics you can use break down the outcome into smaller digestible steps. Make a list of everything that could go south if you move forward with the decision, whether it’s related to your business finances, relationships, self-care, or time. Schedule regular check-ins as you work towards a goal to see what kind of progress you’re making. The more you understand all potential costs to that risk, the better you can improve its outcome.

For a helpful breakdown on calculated risks, view the visual from Valpak below. It covers steps to follow so you can anticipate red flags and successful company who have used this method. Read more of this post

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How to Price a Product or Service [Infographic]

The following content was submitted on behalf of Fundera.

In a dense market, it can be difficult for your business to acquire the capital it needs and stay afloat. Between branding, sales, and everyday operations, the cash that comes in can quickly flow out. That’s why it’s essential to select a pricing strategy that works for your business. The right strategy will not only help you stay afloat, but establish your branding within a market, and differentiate you from competition. To do this, you must conduct a thorough analysis of your company and the market.

First, if you’re not already aware of your costs, take time to account for these. Add up your expenses and overhead to get a finite number you’ll need to break even. Then set a ballpark number in profit that you’d like to achieve to determine a good price point for your product or service. This will give you a good idea about how much revenue you’ll need, as well as keeping you motivated to reach your goals.

Next, get to know your market. Take a look at the pricing strategies of your competitors, as well as how they’re marketing themselves to their audience. Look at the website, social media, and blogs to determine how they’re positioning themselves and what you can offer that they can’t. Knowing what your audience expects will go a long way towards help you compete.

With a thorough understanding of your market and profit goals, you will be better able to select  a pricing strategy that drives success for your business. For more on which pricing strategy is right for you, check out this infographic below by Fundera: Read more of this post

Stop Screening Candidates: What Recruiters Can Learn from Designers

The following content was submitted by Vervoe. The original article can be found here.

Screening candidates isn’t helping you.

In technology, user experience design is very close to our hearts. We are constantly trying to make it easier for our prospective customers to gain value from our products and services. We try to make the experience as welcoming as possible and take them on a journey.

When it comes to our prospective team members, perversely, we seem to take the opposite approach. When people express an interest in joining our teams, we seem to go to great lengths to push them away. We actively discourage them. We screen them.

To screen:

“To test or examine someone or something to discover if there is anything wrong with the person or thing.”

– Cambridge Dictionary

What? Really?  

That’s how traditional recruitment works. When people want to join our ranks, we try to find out what is wrong with them so we can rule them out. There is something inherently wrong with that approach.

What does that say about us? What message are we sending to people? When I try to put myself in the shoes of a candidate, this quote comes to mind:

“Sometimes it’s the journey that teaches you a lot about your destination.”

– Drake

If the journey is obstructionist and unpleasant, if I’m being screened as if there is something wrong with me, that must say something about the destination.

So let’s change that. Read more of this post

Make Your Job Description About Activities

12 Tips to Raise Your Rates [Infographic]

The following content was submitted on behalf of Valpak.

A crucial step that all business owners and entrepreneurs need to take, at some point, as they grow is a business price increase. As your service or product improves, so does its value. It’s helpful to perform research into your competitors and industry before you make a jump. Is the increase justifiable? More often than not, a price increase will spark some conversation and uproar among your users or customers.

While you can’t control how your customers react, you can take the necessary steps to avoid push back. Be honest and transparent. Communicate the change with your customer’s needs in mind by clarifying the added value or benefits for them. You may be surprised with how consumers will be willing to pay a little bit more for a much better result or added value. For more specifics, Valpak breaks down twelve actionable steps to raise your prices and how to handle an upset customer as a result in their infographic below. Read more of this post

13 Psychological Pricing Hacks to Drive Sales [Infographic]

Whether you are a consumer or a business owner, you might find the following information on consumer psychology enlightening and useful. This content was submitted on behalf of Wikibuy.

When it comes to product pricing, we’re funny creatures. Our perception of cost is not as simple as reading what’s listed on the tag — in fact, it’s far more complex. The physical appearance of pricing sends subliminal messages, which in turn plays a role in our purchasing decisions and whether or not an item makes it to check out.

So, as we approach the busiest time of year for shopping – i.e. the holiday season, it becomes increasingly important for both small and large retail businesses to understand what their product pricing is really saying to customers.

It’s all about perception —

Human brains blur visual and numerical size, leading us to believe that a decreased font size, appealing layout, and even contrast means a decrease in price. But it’s not just small font size that has consumers fooled. Did you know that even something as simple as the removal of the dollar sign or comma are proven to augment customer spending?

The placement of the item and price are also crucial. Surround it with far lower prices, organize it from high to low, or let it rest between two extreme prices. In the above scenarios, customers are more likely to buy an item because they think they will get the most “bang for their buck.” In other words, people look for an affordable price without a loss of quality.

To expand on this concept and help businesses boost sales during the busiest time of the year, Wikibuy put together this comprehensive list of psychological pricing hacks to help you gain that competitive edge when you need it most.

Read more of this post

Robots and Drones Saving Lives in Disaster Areas [Infographic]

This infographic, which was created by EKU Online, covers the potential benefits of robots and drones in the service of saving lives wherever natural disasters occur. According to this infographic:

Though drone regulations are currently tight, according to an article by U.S. News, “The FAA [Federal Aviation Administration] projects the eased regulations could generate economic returns of more than $82 billion over a 10-year window, while potentially creating more than 100, 000 jobs.” With the No. 1 concern with UAS technology being safety, professionals skilled in safety, science and emergency management will be ready to solve the nation’s problems concerning disaster aid and relief.

Via EKU Online: Read more of this post

10 Secure File Sharing Options and Tips [Infographic]

The following content has been submitted on behalf of Panda Security.

Many businesses, large and small alike, have gone paperless. What does it mean exactly to go paperless? Because technology is so prevalent and accessible, many companies choose to exchange and archive information in the cloud, or digitally.

The cloud is made up of a multitude of Internet-based services, such as Google Drive and Microsoft OneDrive. These services allow trading and storage of data simply through the Internet. This means that multiple people can edit one document at a time. Even more conveniently, the same document can be opened from any computer with an Internet connection.

So, why are corporations making the switch to online file sharing?

A benefit of file sharing is its ability to centralize your company’s data. The juvenile game “Telephone” demonstrates the importance of streamlining communication. In the game, children sit in a circle or a long line. The first person picks a word or phrase and whispers it to the person adjacent them. This continues until the last person has to say it aloud. Often, the initial phrase has devolved into something completely different through small variations in each whisper.

Like the game, the flow of communication in the workplace can easily be twisted or misunderstood as it travels from person to person. Storing information digitally mitigates these communication errors because employees can access the same data — they don’t have to rely on coworkers to relay the information.

If you’re interested in learning more about file sharing, Panda Security has put together 10 secure file sharing options and tips. Scroll through the infographic below to discover file sharing advantages, risks, and services. Read more of this post

15 Tips to Optimize for the App Store [Infographic]

The following content was submitted on behalf of CleverTap.

Search engine optimization is a widely accepted strategy for successfully driving organic traffic to websites, but how are companies driving traffic to their mobile apps? Although Google has been around for over 20 years, marketers are still trying to navigate its complexity. the App Store, only 10 years old, is no closer to being figured out. Although this may seem like a bleak and discouraging point of view, there are many bright minds working around the clock to make incremental revelations about app store optimization.

From the most obvious factors of the app store listing, such as the logo, title, and screenshots, to the pricing, compatibility, and updates, CleverTap has compiled 15 actionable tips. When considering how best to navigate the app store for your mobile marketing strategy, implement these tips for a boost in app downloads and subsequent usage.

Via CleverTap

Read more of this post

11 Modern Marketing Skills for Business Innovators to Master [Infographic]

This infographic, which was submitted by Circa Interactive, covers important skills that are in demand for modern marketing professionals. In brief, the infographic provides important information and statistical data on the following skills: content marketing, mobile marketing, email marketing, social media marketing, search engine marketing, video production, data analysis, blogging, operational skills, user experience skills, and basic design skills. According to Maryland University:

Technology and social media have made a profound impact on marketing over the past few years. So much so, that small business owners, entrepreneurs, and marketers may need to update their skill sets to properly engage with he next generation of consumers (Gen Z) while effectively leveraging progressive technologies.

Via Maryland University’s Online Bachelor’s Degree in Marketing: Read more of this post

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