10 Questions Small Businesses Should Ask When Hiring An IT Service Provider

Based on the premise that small- and medium-sized businesses oftentimes lack specific criteria to go by when seeking to hire an IT services provider for their everyday Information Technology needs, the following list is a handy "cheat sheet" that addresses 10 main questions businesses should ask a potential IT service providers when seeking and comparing IT services:

1) What specific hardware and software products, packages, and offerings does your IT company provide or resell that would make our business more effective and productive?

For example, if you're a small business, certain phone systems will work better, and are licensed to work better for, small businesses of approximately 100 employees or less. Some even have constraints down to 50 employees or less or have constraints about how many locations they can service at once. Once the potential IT service provider tells you of the specific products they resell or offer, do your own online research and find out what the world wide web has to say about the differences between major communications companies and the appropriateness of their products for certain business sizes. Some communications product providers have initially aimed their products towards large-scale businesses and may only now be breaking into the realm of providing products that meet the needs of small and medium business. Each product, whether it's a VoIP phone system or data backup hardware, has clearly stated constraints for number of users and business size before more upgrades or additional licensing are required. You'll be in the know ahead of time, before hiring an IT service provider, if you "do your homework" on the products they intend to resell to you.

2) Of the services, hardware, and software you'll be providing, will any of them actually lower our Total Cost of Ownership (TCO) in the short-term or the long-term? If so, how?

For example, installation of a new VoIP phone system may certainly produce a high initial cost, but when you consider that once installed, the new internet-protocol phone system will save hundreds, if not thousands of dollars in long-distance calling fees and between-site calling fees, that initial cost may be well worth the long-term savings. Moreover, new mobile phone apps and other unified communications methods and media are currently changing the way small and medium business do business by allowing your office phones to be duplicated on your mobile phone as if you're never out of the office, or by streamlining your overall client communications to come to one place, saving you time and money, especially if your business requires you to be out of the office, in the field, or traveling often.

3) What is your fee structure and how is it advantageous to my small- or medium-sized business?

Fee structures come in many shapes and sizes, and those that are right for large enterprises are most often not right for small- and medium-sized businesses. While buying into an "incident-based" fee structure may be tempting in that you only pay for each occurrence of an IT problem, the unfortunate backlash of that fee structure is that, in their own attempts to make more money, some IT service providers may not create a solution that is a long-term fix for your problem. In fact, the IT provider may purposely only do enough to solve or "work around" the problem in the moment of the incident instead of creating an IT environment that prevents future incidents. In other words, on an "incident-based" fee structure, an IT company is actually monetarily encouraged to fix problems in pieces and not as a whole so that there's another future incident waiting just around the corner that the IT company can be additionally paid for at a later date. This point begs for an answer to the next question:

4) Is your approach to IT solutions a reactive or preventative approach? Is it your approach to deal with our IT issues separately as they arise or to deal with our IT issues holistically?

A move within the IT industry from "a la carte" problem fixing to holistic solutions begs the question of whether an IT service provider is simply a reactionary entity that comes to fix problems as they arise or if they're looking at the "big picture" of your business's IT needs. Instead, many IT service providers and savvy businesses today are realizing that cost savings increase when the IT needs of a business are examined and troubleshot as a whole, preventatively. As a simple example, instead of performing data recovery after the crashing of one employee's computer, a holistic IT company would have saved time and money by creating a monitored data backup plan with the hardware and software to perform backups well before someone's computer crashes. As another example, instead of upgrading a business's network whenever the size of the company increases due to a few new hires, a holistic approach would examine the projected growth of the company and request to implement network changes that can handle the growing workload before multiple potential hires are officially working and before company growth becomes a network-overload issue. A holistic approach does require though that an IT service provider conducts periodic assessments of things like how well your servers are functioning, how overloaded your network is or isn't, and whether security and data backup practices are continually effective.

5) How will you solve IT issues that need immediate fixes before downtime negatively affects my business? Will you be responding remotely? If so, what happens when a remote fix is found to not be possible? Do you have someone in our local area that can respond on-site if necessary?

An IT service provider's reaction time is crucial to your business experiencing as little downtime as possible. While remote fixes to your computers and your networks are often a cost-efficient solution for both your business and for the IT service provider, if there's a server issue, you may oftentimes be in need of an IT professional that can be on-site to fix the problem hands-on. For businesses like stock brokers that use their computers to conduct real-time monetary transactions on a daily basis, excessive downtime can lead to a large loss of profit on behalf of clients that can then become upset and question your business's validity. Avoid this problem by having a plan with your IT service provider ahead of time that notes exactly how much reaction time will be allotted for. If your IT company cannot be on-site within, say, an hour, you may want to consider another provider that can be there even quicker. This would mean contracting for services with a local IT provider, or at least contracting with a distant IT provider that has service professionals in strategic cities that are either close to or within your city.

6) How will productivity and cost-savings be shown? Is your IT company able to quantify the gains created by changes you've implemented within my business?

A periodic report sent either electronically or on paper, should be something your potential IT service provider can produce without a lot of effort. That's because if they've chosen the proper products to boost the productivity of your business, and they've taken an initial baseline of the business's productivity, quantifiable gains and losses should be easy to illustrate in a "productivity report." This means a report that will answer questions like: how much faster is the server working after our recent upgrade? How much money are we saving per month now that we've upgraded to a VoIP phone system? How much faster is the website loading now that we've addressed latency issues? How many more calls can our business receive and handle simultaneously now that we've added more phone lines? How much more protected from outside and inside security threats are we now that we've implemented network security products and building surveillance cameras?

7) How are data backups implemented by your IT company? Do you provide emergency monitoring of our servers and networks? What happens in the case of a security breach?

A reputable IT service provider will be wise to perform periodic assessments of data backup systems and actually verify that those backups are working by attempting to retrieve random sets of data in a real-life application, such as pulling up accounts payable documents from three months ago and seeing if they can be opened without incident on an accounts payable employee's computer. If the files are backed up but won't convert to data that's readable (i.e., if it reads as coded nonsense), then that's a sign that data backup may be being performed but may not be accessible or usable when retrieval actually needs to occur. In addition, your networks, servers, and even your business's buildings aren't only under threat during business hours, so many IT providers provide 24/7 monitoring that shows up on an "on-call" IT phone that gets handed off between knowledgeable IT employees who can be "on call" throughout the night and respond quickly even if a server fails at 3am.

8) How does your IT company ensure the internal and external security of our networks, our websites, our VoIP phone system, our online admin areas, our passwords, and our building?

Though all of these security services may not apply to your small- or medium-sized business, those that do beg these important security questions. Proficient IT service providers can easily answer all of these questions by sharing with you what products and methods they implement in order to uphold the security of your business. They may recommend high-resolution security cameras, policies that ensure only administrators have access to crucial areas of your network, methods of storing passwords that aren't on a sticky note in someone's desk, and of course, firewalls and security software that ensure your website is hacker-proof. If the IT service provider you're interviewing doesn't have a quick, tried-and-true solution to your specific security needs, you're better off finding a provider that does.

9) What certifications, qualifications, and most importantly, what experience does your IT staff have that will benefit my company?

While a common standard of having Microsoft and phone-system-brand certifications is common amongst the staff of many IT service providers, the real question is if any of the IT service provider's employees have gone above and beyond to obtain not-so-common certifications and qualifications that make that IT service provider more of an expert in certain areas than the next. More importantly though is whether their experience matches and goes beyond their certifications. An IT professional going through a training course to obtain a certification is great, but oftentimes applying that knowledge in the field is a whole different ball game. Many IT service providers have decades of combined experience amongst their employees and have also kept current on applicable certifications, which is the type of pairing of education and experience to look for. If your server goes down, you'll want an IT professional responding that fixes serves all the time, not one who's checking his textbook for the next troubleshooting step.

10) Probably the most important question to ask, beyond obvious considerations of available products, potential costs, procedures, and so forth, is to ask: Is your IT company a good fit for my company, and if so, how?

IT service providers are usually accustomed to servicing certain business sizes or types. Oftentimes many small-city providers are dealing mostly with small and medium businesses while others within larger cities are mainly accustomed to working for large enterprises. You'll want to match your business with an IT service provider that has a host of solutions tailored just for your business size. In addition, your business type is also a factor in that there's a big difference between the IT needs of a stock broker whose commodities and sales are all online as compared to a retail store that holds a lot of valuable merchandise on a sales floor with glass front windows as compared to a large, barley marked warehouse that's piled high with boxes of expensive equipment. The stock broker will need heightened online and network security while the glass-front retail shop may need heightened security cameras placed outside the building while the warehouse may need heightened security inside the warehouse and a strong server for mass inventory data. Ask potential IT service providers if they've ever serviced the type of business or a similar type of business as yours and if they answer "no," you're going to better off with an IT service provider that's accustomed to working with your business size and type.

5 Easy Tips To Help Build Business Credit

How To Build Business Credit

So many business owners fail at establishing business credit due to fact most have no idea how to approach the idea of achieving business credit credibility.

The lenders care about one thing:

Are you attractive on paper?

That is truthfully the only thing any lender will ever worry about. All lenders measure risk in an effort to help them reduce the default rate a prospective client could have. They do this by measuring the "fundability" of a business.

Here's five quick tips to help you establish your business credit in the quickest fashion
1. Ensure everything in your business is set up. You must be in a position to receive credit in the first place before you apply. This includes a 20 point checklist a few of them are: ensure you have an EIN number, ensure you an incorporated, ensure you have an 800 number and ensure you are listed in the 411 directory.

There are 16 other points such as this that a business owner must have in place to qualify for any type of financing. We know because we have the lending guildelines from over 2000 lenders!

Part of the reason lending institutions require such information is due to the fact that so many people apply for business financing and small business loans who, quite frankly, have no business applying. This helps weed out many business owners who simply will never receive financing for their small business.

2. Start with vendor accounts. Vendor accounts, unlike revolving accounts, are typically set up with net 30 terms. This requires the business owners to pay, in full, the balance at the end of each month on the amount allotted by the vendor. Many vendors including staples, home depot, radio shack, Uline shipping etc, all have vendor accounts that can be set up for any type of business owner. We have the exact underwriting guidelines for these plus 300 other vendors in our business credit program. Therefore the business owner will always be approved for the vendor account before they even apply.

3. Access your Duns Account and Duns number to ensure your vendor tradelines are reporting. Unless you know how to set this up, Dun and Bradstreet can charge anywhere from $700- $1500 to get a business owner set up. They like to couple products and programs in an effort to squeeze the business owner's cash. The truth is, through our business finance suite business owners can be set up with a Duns account for free. This virtually covers the cost of the system.

Knowing what trade lines are popping on your business credit profile is crucial to the success of a business owner. Reason being, many revolving lines of credit rely on the fact of starter vendors as trade references before extension of corporate credit will be granted. Knowing what is on your business credit report can be the difference between success and failure in establishing business credit quickly.

4. Make sure you are using no personal guarantee, no personal credit check vendors to get started.

The idea of building corporate credit is to remove your personal liability from your business risks right? Well then for that to be true a business owner must not take on personal guarantees or allow personal credit checks to take place to be approved the right way for business credit. Knowing which vendors do not require personal guarantees of personal credit checks can be tricky. You have to have access to underwriting guidelines to know exactly which ones do and which ones do not. We have those inside our business finance suite. You can request this information up front from the vendor if you wish or you can gather many applications and skip the section that asks about your personal information. There are not to many out there unless you have a source to use.

5. Make sure you "x" number of tradelines reporting before you apply for business credit, revolving accounts.

This is crucial to your success. So many business owners fail at corporate credit because they have no idea what it take for a business owner to be approved for a VISA line of $10,000.

Do you think any merchant would extend a VISA line of credit for $10,000 to a business owner who has credit in their business' name that is either not been established or is poor?

Juggling Living in the Now and Our Businesses

The business world at large demands projections, business plans, analysis of data and constant checking of figures - which area of our business should we concentrate on next, which country should we try to conquer next? A full time job in itself if we don't have people to help us out!

All of the above serve to keep us in either the past or the future. The present moment is fleeting and reflects what we have been doing in the past anyway - so why spend so much time analysing it? Surely, by looking at the present moment and where we are - not just in business, but in our lives - we have a pretty accurate yardstick of how we have been creating our lives to date.

Business is a Serious Business

Most businesses are run with the aim of making money - yes, I know - I'm stating the obvious! However, isn't it just this factor that takes the joy out of many businesses? A bit like a person who loves amateur dramatics, but when they decide to transfer over to the professional stage the joy dissipates because now their lifestyle depends on their success. There is a mantle of seriousness which now envelopes them and, except for a fortunate few, it's not fun anymore, but business.

This very seriousness is what ties people up in knots, makes them tense, stressed and out of touch with their intuition and guidance. There is too much fear of failure and thoughts of not having enough money to support themselves, needing to go back into work that they hate doing just to make ends meet and even the fear of people telling them 'I told you so!'

There are many layers to starting our own business. It's about making ourselves vulnerable because we can ultimately be rejected by the world and nobody wants what we have to offer. The ultimate rejection! It takes courage to take that leap of faith.

We have to be Passionate

Loving what we do is really the only way to have any chance of a successful business, and I'm not just talking about money. I'm sure all of us have had dealings with businesses which have been run delightfully - restaurants that serve the most delicious food for example. Then one day we visit our favourite restaurant and the food isn't quite as good, the service isn't quite as personal and, on enquiry, we find that the restaurant has changed hands. The passion and energy of the person/people that started it has gone and, unless the restaurant is taken over by people with equal passion, the customers are going to feel the difference. Is there ever the same level of passion shown for a business which is already a running concern versus one that has been built from scratch with blood, sweat and tears? I don't know, but I doubt it.

It is our energy which runs our business. We can have unlimited funds to throw at it, but unless we have passion for what we do that money is going to go down the drain, as potential customers will sense that we aren't in business for the love of it, but purely as a way of making as much money as we can, in as short a time as possible. We won't show up as people that they can trust!

Getting Things into Perspective

I think that it is imperative to focus on the present moment to stay sane in business. We can easily be forever looking at next month, next year or 5 years hence as to what our business should have achieved by then - along with that is all the pressure of trying to make that imaginary path an actual reality. If we have started a business with borrowed money, we also have the stress of having to report in on our successes or failures to meet financial deadlines. Our stress levels rise exponentially if we are in that situation!

The same as an artist will create a work of art or a piece of music, putting their heart and soul into it, and then tentatively release it into the world in the hope that someone out there will grasp its essence and understand what was in their heart at the time of composition. That is what it is like with our businesses - we put our hearts and souls into them and then hope that somebody, anybody, out there 'gets it' and will join us on our journey.

Ultimately, there are no guarantees that our businesses will be financially successful, but we can guarantee that they are emotionally successful on a day to day basis through following our intuition and doing what we love in each and every moment. Using this method will probably mean that projections fly out the window, as we can be lead down an entirely different path and our business could serve completely another purpose to the one we had originally envisaged. We could also be lead to change to another business, or travel another path - who knows. Life is full of surprises!

My point is that when we focus on the future and the money we feel we need to make (sometimes just for worldly validation), we often distance ourselves from the heart of our business, and the reason why we started it. Fear is what we feel when we imagine that we won't make self-imposed deadlines - again, it's often all about the money! Then our business suddenly becomes this massive thing which takes over all of our life, and we start to see it as the means of our ultimate glory or destruction - we see our whole lives depending on its success. Then the tables are turned - instead of us being the owner of our business, our business becomes the owner of our life!

I know people who don't run their own businesses who are working jobs that they absolutely hate, but they fear leaving or losing those jobs because they have tied their whole existence to them. They don't have enough faith in the Universe to provide for their needs, and transfer the power of the Universe to the company they are working for - making it the be all and end all! If they could just step away from their fears of destitution and homelessness, they would see that the company is merely a tool for the Universe to provide for their needs, and that they can change that and create a much more pleasant and worthwhile experience for themselves.

Similarly, if we can view our business as a tool the Universe has given us to either provide for our material needs and/or our emotional needs, that will help us to lighten up and enjoy the experience. However, if we see our business as our only means of survival, then it's like having a partner that we rely on to supply every aspect of our happiness! It just doesn't happen!

Conclusion

I believe that each of us has a unique path to follow and that we are only shown one step of that path at a time. The journey unfolds as we take the next step, and our mind-set and emotions are the keys to our final destination. If we move forward with joy and anticipation, then we find that in every moment. If we move forward with fear and trepidation, we similarly find that in every moment. We can choose to be a creator or a victim - the choice is ours. The good news is that we can change direction at any time - by living in the present moment and being grateful for what we have at that specific time. The more grateful we are, the more things we receive to make us even more grateful. I'm not saying anything new - a lot of people are talking about this and have been for many years. The thing is - it works!

Small Business Should Invest in Big Data and Analytics

Big data refers to huge volumes of structured and unstructured data; however, processing such massive volumes of data via traditional data management tools is inefficient and impossible. To understand big data you have to realize the devices that are collecting it today e.g. bar code scanners, mobile cameras, CCTV cameras, motion sensors, smoke alarms, web analytical tools, CRMs, etc. From the examples, you can see that these devices collect a vast array of data types hence the structured and unstructured part in the definition. The sheer velocity at which the data is being produced cannot be controlled and processed using traditional methods and tools.

However, the use of big data and incorporation of big data analytical technology gives businesses the competitive edge over their competitors.

Big Data and Small Businesses

It is only a thing of the past when terms like big data and business intelligence were associated with large enterprises only. Today, small businesses have to leverage the data they are collecting in order to remain a part of the competition. For years, cost has remained the main reason why small businesses did not adopt big data analytical technologies, but this has changed now. There are budget-friendly tools available for small businesses to take advantage of the data they are collecting today. According to some experts, small businesses can take better advantage of big data since they are able to make the necessary changes far more quickly than large enterprises i.e. real-time response to insights from available data.

According to an IDG study in 2016, 78% of the large enterprises agree that big data strategy has the power to change how businesses have always operated. This shows the acceptance of big data technology and strategies for large enterprises and strengthens the fact that small businesses could become irrelevant if they did not adopt the same strategies.

Benefits of Large Data Analytics

Large Data and Big Companies, a report by IIA Director of Research, Tom Davenport, reveals that businesses are benefitting greatly from big data analytics especially in improving their products, making business decisions faster and reducing costs. Here are some ways small businesses can benefit from big data.

• Cost Savings

The upfront cost of implementing large data tools and strategies is high undoubtedly, but the long term benefits of doing so are matchless. The healthcare industry is a great example of how the use of large data can help businesses reduce their costs regardless of their size. Using predictive analytics, Medicare and Medicaid Services forestalled more than $210 million fraud in healthcare with just 2 years of utilizing the aforementioned technology.

In addition to preventing frauds, small businesses can also reduce their costs by steering clear of creating more inventory than needed, including better partners in the supply chain, etc.

• Improved Decision Making

This is the biggest benefit of large data. It allows businesses to expedite decision making by processing the data fast and giving insights in timely manner. In the past, business decisions were reserved for future strategies in the light of available data and the trends that were observed in it. The amount of data that businesses are sitting on today is huge and thus more powerful insights are to be gained from it.

This vast amount of data requires the use of modern big data hardware technologies. Once both the things are in place for a business, they can understand customers better, create products that are a closer reflection of what customers want and develop a brand based on most reverenced values.

• Impenetrable Security

Businesses are more focused today on using large data to improve their core capabilities, but less attended to a more serious concerns i.e. cyber threats and security breaches. Almost every small, medium and large business is connected to the internet today. Moreover, the Internet of Things has broadened the attackable security surface for businesses making it easier for cyber criminals to attack networks and penetrate company databases.

The biggest concern for modern businesses is that they have to "respond" to cyber attacks that have already occurred rather than being able to prevent them from occurring. The use of big data and big data analytical tools can be a game changer in this area allowing businesses to prevent any security attacks way before they are executed.

Key Technologies Helping Businesses Make the Best of Big Data

As a small business, you will have to familiarize with various technologies that help you store, analyze and take action on big data. Here are some important ones:

Business Start Up Help - Power Mondays



Start up business help.

For many people starting a new business or thinking about starting a business it provides an escape from the routine and monotony of employment and organisational structures that are killing both your passions and creativity. Recession and lack of job security have driven many people towards self employment and business start up as a way of taking control of their own destiny.

The business start up industry is a growing market with over 300,000 new businesses starting each year. However 65% of these fail within the first 2 years. So what is making such a high number of businesses fail? Is it lack of start up business help or the motivation of the business owner?

Is start up business help a self defence?

There are a variety of training, products and services designed for business start ups, focusing on practical step by step guidance to help you get to grips with starting a new business. However very little providing both inspiration and practical tips that help you overcome the hurdles and challenges along the way. Most business owners need to master better techniques in the earlier days to survive and grow in a competitive marketplace

Perhaps you have spent a long time identifying your products and services, researching your ideal customer and how to market your product or service to them, who your competitors are what separates you from them with your unique selling points. You have followed the business plan model and all the training, tips and guidance for business success. But still struggling to fall into the 45% of successful business start ups despite being armed with an elevator pitch that is designed to attract more customers and increase your profitability.

Motivation your personal survival.

Financial pressure is one of the biggest factors for business failure within the first 2 years and it is very wise to plan how you will pay yourself a salary in the first 2 years of business not to be dependent on the business income. If you have given up a regular income to start a business or thinking about how you will finance your transition into self employment or a new business, finding a viable option can be a challenge, especially if you have family or financial commitments it can make the transition even more complicated. It is vital in the early years to give your business time to establish new customers and grow. Hence working part time maybe a good option for you to make the transition.

Confidence is a motivating factor that can often be overlooked in business start up and is directly connected to business success. However start up training, products and services are often focused on practical guidance instead of tailored around motivating and inspiring business owners. This support does exist in the form of coaching or mentoring and is usually seen as added value or complimentary support instead of necessary business support for the personal survival of the business owner. In my opinion it is regular inspiration that provides the motivation needed to persevere and persist in the early years of business start up and finish in the 45% successful business.

Advantages Of Hiring Business Development Consultants

People looking to start a new business have a lot to consider. They need to develop a good marketing strategy, start attracting clients, and put together a host of other things. This is where a business development consultant can help immensely. These consultants can help a business get off the ground and flourish. There are many benefits to hiring business development consultants.

What is a Business Development Consultant?

This type of business consultant specializes in aiding new business owners. They help in a variety of ways including client development and business start-up. As a consultant, these individuals can also formulate a good marketing strategy and help to market a business's brand.

Overview of a Consultant's Services

New businesses have a lot of challenges they must overcome. Development consultants can guide these businesses to success by formulating plans that cater to their specific needs.

Getting new clients can be very difficult for a new business. Consultants can help a business create an effective marketing strategy to bring in a lot of new clients.

Increasing Professionalism

Businesses that utilize websites or that have any sort of printed materials can benefit from the guidance of a consultant. The consultant can look over the writing on the website and fix mistakes or make changes to it that will increase the professionalism of the writing. Error-free, proper writing helps attract clients because they are more likely to trust a business that's professional and capable.

Lead Generation

Business consultants are able to fulfill the needs of any type of business. For instance, a business that sells products needs to be able to effectively generate leads. A business development consultant can generate leads and also show employees how to do the same. Under the guidance of a consultant, any type of business can flourish.

Closing Deals

Another way a consultant can help a business is by teaching its employees the valuable skill of closing a deal with a client. Many employees may already have one good strategy to help close a deal, but business consultants can reveal several ways to do it effectively. Every client is different, so a strategy that works for one client may not work for another; business consultants have several strategies that will work for most clients, and they can teach businesses all about each one.

Branding Assistance

Another great way business consultants can be an asset to a company is by helping them with branding. Some businesses make the mistake of changing their slogans or logos. This is a bad idea because it can confuse clients. A consultant will help a business avoid these potentially costly mistakes.

Consultants also help people decide upon a logo or slogan that will let potential clients immediately recognize the services they are offering. A good slogan and logo can make all the difference, and consultants will help businesses create the best ones possible.

Consultants can even help a business decide upon a good name. A business name needs to stand out and catch people's attention without being confusing. Business consultants are very creative and have a lot of experience, so they can be a fantastic asset to any company that needs help deciding upon a name, too.