The fifth generation of mobile networking is finally here, and it’s on course to change the world of small-business communications. The most notable improvement is its speed boost over 4G, with data rates 10 to 100 times faster, potentially reaching 10 Gbps.
In today’s highly competitive market, consumers have more choices than ever when it comes to goods and services. In an environment where many products are often at parity, you need to give customers a good reason to choose yours over your competitors’.
More importantly, you need customers to come back to you again and again.
If you’re the owner of a small- or mid-sized business (SMB), the latest cybersecurity statistics ought to be your wake-up call:
Small businesses account for 43% of breach victims.
Small businesses (1 to 250 employees) are targeted the most with malicious email, at a rate of 1 in every 323.
94% of malware is delivered by email.
Many New Jersey businesses and residents aren’t strangers to cyber breaches. In 2017, over four million in the Garden State were affected by the Equifax data breach. By 2018, the numbers had been reduced significantly to around 358,000 residents. But this doesn’t mean a decline in data theft; it just emphasizes the massive scale of the Equifax breach.
It’s now 2020 — is your business still using legacy hardware and software? In technology parlance, “legacy” refers to anything that’s outdated or obsolete. If so, you’re in trouble.
In New Jersey, competition is stiff for small- and mid-sized businesses (SMBs). Small businesses make up 99.6% of all enterprises in the state.
If you’re an owner of a small business who’s looking at expanding operations, you may want to consider buying an existing business. This “entrepreneurship through acquisition” is a viable option to jumpstart the growth of your business, instead of relying on slower organic growth.
Ask any business owner or CEO what their company’s most important resources are, and most likely you’ll hear answers such as, “Our people,” or “Our office culture.” But there’s one resource that all companies have in spades but often remains untapped.
Collecting data has always been part of the daily business process. Not too long ago, businesses didn’t do much with the information gathered. But with the rise of technology, collecting and making use of this data have considerably become more efficient.
Did you know that nearly half of all the data breaches businesses suffer occur at the hands of their vendors? With small businesses having dozens of vendors and large enterprises having hundreds, it’s even more important now for companies to manage the risks across the supply chain.
It’s a simple question, but one that businesses need to answer. Who do we put first — the customer or the employee? For this chicken-and-egg debate, there’s actually a clear answer. But it may not be what you expect.
The argument for the customer
When it comes to customer satisfaction, there’s no dearth of quotes: The customer is always right.
