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5 Hacks For Kickstarting Business Production

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Kickstarting Business Production

It’s been a nervous economic time and you may be struggling to find ways to increase your customer base and grow your existing business. You may also be considering starting a business but in need of niche workers or funding.

When pitching your business to investors, many business owners overlook the importance of pitching their recruitment process. Especially in specialized fields such as tech, pharmaceuticals, and agriculture, investors are curious to know how you plan to fill your job vacancies with top-level employees. Even if your business has been operating for quite some time, it’s never too late to start looking for more qualified individuals to help kick-start your business production. All it takes is one team member at the top to bring about some serious change to your productivity and company culture.

There are also lots of ways to secure funding for your business. Many businesses that are first starting out, become money pits. Profits aren’t guaranteed for the first couple of years, and you may find yourself looking for more funding just to keep it going until you can overcome a time hurdle. Here are ways that you can staff your business with the best personnel and secure the funding to keep your business production going as you go through your growth phases.

Apply for Available Grants

Free money is about as good as it gets. There are many agencies and private charities that focus on a particular product base or client population. Carefully scrutinize what’s available for your

  • industry
  • employee population
  • location

If you offer employment in an underserved area, you may be eligible for a grant. You may also be eligible to sell to specific government entities, both federal and state. If your location is in an economically challenged location, check in with county and city government agencies about tax breaks, low-cost funding for improvements, and help with utility upgrades and infrastructure.

Consider offering internship opportunities in your business. You can use these opportunities to train and vet candidates for crucial roles within your business. The payroll cost is super low for interns performing tasks within your company, and you may be able to secure additional grants and tax breaks as a result of starting an established internship program.

To find willing and qualified interns for your company, consider attending your local college’s job fairs. Advertise on social media. Ask for referrals from employees and clients. There are plenty of young people looking for work experience for their resumes and credit hours for their education.

Boost Your Specialized Staffing

No matter what you’re trying to create, you’re going to need people who know more than you do about some aspects of the business. Skilled personnel can actually become a part-time contractor or regular temp hire for your business on a weekly or as-needed basis.

Many companies are creating a hybrid model of temporary and permanent staffing for their business. Mundane, labor-intensive, and low-skilled positions in your company can be outsourced to temporary workers. This can actually save your business money. Especially if your production needs to be scaled up quickly for a busy month or season, you can pay minimum wages for certain jobs like packaging, cleaning, and maintenance when you need them, and avoid costly layoffs when demand starts to wane.

Make sure you focus on the top-level employees and executives in your business. You shouldn’t accept mediocrity in these crucial roles for your company. Top-level executives in your business won’t only boost your entire labor force, but they’ll also contribute to the overall success of your business by providing creative solutions, important business deals, and setting precedents for your company culture.

When it comes to hiring quality top-level talent as well as boosting a roster of temporary workers, many business owners and HR departments become overwhelmed. Hunting for the perfect candidates takes time and resources. You need to learn where to look and how to assess the skill sets of individuals quickly. It’s no wonder some of the most successful businesses on the planet choose to outsource their recruitment process.

Job agencies have a unique role in the business world. Their full-time occupation is about finding individuals, assessing their strengths, and getting them in touch with businesses like yours. Since they do this work every day, job agencies generally have access to a pool of candidates that other businesses can’t gain access to. Working with a nationally recognized company can generate amazing results for your business.

They may be able to get you in touch with top-level executives with amazing work history. By expanding your search through a job agency’s nationwide network, you may be able to find qualified candidates who are ready to relocate for an opportunity to work for you. This can land you a candidate with strong work experience who can bring you new ideas and fresh perspectives to help you grow your business.

Job agencies can also help fill low-level positions for your company by providing you with extra hands when you need them. Whether most of your business productivity happens during the summer months or during the holiday seasons, a job agency can help you hire skilled workers quickly, without the need for onboarding and hiring. And you don’t have to go through a layoff when productivity starts to slow down again.

Working with a job agency in Manhattan or other cities you operate from, for niche professionals, can greatly reduce your payroll costs. For example, if your business is full of creatives and you really need an Excel specialist at times but not every day, a staffing agency can provide you the help you need without pushing your payroll past the comfort zone. For positions that require specific skills which can be difficult to find locally, you can partner up with an employer of record, to legally hire professionals across the globe.

Reduce Your Market

It may seem counterintuitive, but a rapid expansion can leave you scrambling to fulfill orders. Get it right on the small stuff. Keep your production runs small until you know the niche inside and out before you start a new product run or increase your batch production. For example, you may have a product that sells well around the winter holidays but languishes in the summer.

By allowing your business to be flexible and accepting the natural shifts in demand that take place, you can specialize in a certain niche. Target the money-making products before scaling or pivoting your business.

Recent world events have left many small business owners scrambling. People are nervous about how much to spend and what the essential cost of living will grow to be. Even if you only produce 5 products, do them extremely well and stick with them in order to move toward owning that niche.

Seek Out Private Investors

If you have a strong track record and want to expand your production facilities so you can boost your output, reach out to angel investors and private money holders. Those with private dollars will expect a payout, but you may have more flexibility on when the total needs to be paid off.

For example, you may have a great manufacturing facility but need to buy the building next door so you can fit it out as a warehouse.

A private investor can lend you the cash to buy the building and make the improvements. At the end of the process, if you’ve chosen the right location, you can refinance the new building at a commercial rate and pay off your private investor. Many private investors like to get a quarterly interest payment; even if they don’t ask, offer it so you can boost their confidence in you. The next time you need money, they won’t be hard to convince.

You as a business owner should become a mastermind at moving money. To grow wealth, you need to learn how to be a responsible custodian of money. By moving money from one account to another. Use new funding to pay off older debts. If you do this smart, you can keep interest rates low and your credit score high.

Check With Your Family

One of the best things about borrowing from personal connections such as family and friends is that it won’t show up on your credit report, especially if you’re boot-strapping off your own savings and personal credit. If you have friends and family excited about your venture and have the means, a personal loan can be beneficial. This can be the best way to secure immediate funding without paying back outrageous interest fees.

Do get the paperwork right. This is an obligation like any other. If it’s a gift, get it in writing. If not, get a payment plan in writing with interest rates and information about resources your lender will be able to collect if you don’t make the payments. While borrowing from family and friends can be a great start to your business, if things don’t work out you may damage the relationship over time.

Whether you’re starting a new business or growing your existing product line, everyone can benefit from a solid boost in employee hours and cash. Do your best to keep an eye on expansion in manageable ways for the best results.

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Understanding How Much Do Property Managers Charge in Denver?

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How Much Do Property Managers Charge in Denver

Typically, property management fees in Denver are used for rental advertising, tenant screening, rent collection, maintenance, and repairs. But the onus is on the owners to know the various fees and understand the services they provide for those fees. By doing this, you can find a property management company that best fits your budget. 

Average costs for property management services 

The average cost for property management services in Denver is around 8-10% of the rent. However, costs can vary depending on the services provided and the size and type of property. It is best to get quotes from multiple property management companies to compare pricing and services. 

The reputation and experience of the property management company can also affect the cost of their services. A company with a good reputation and more experience may charge more than a new company. On the other hand, a property with a higher occupancy rate may result in lower management fees. 

One-time set-up fee 

Many property management companies charge a one-time set-up fee, which is usually a flat rate or a percentage of the first month’s rent. The amount of this fee can vary depending on the company and the services, but it typically ranges from $100 to $500. 

The type and size of the property are also determinants of this fee. Every time a new property is added to the portfolio of Evernest property management in Denver, Fort Collins, Boulder or any other major area in Colorado, this fee is collected to cover the cost of preparing the property for rental. This fee is used to cover advertising, inspections, and legal paperwork. It is in addition to the ongoing management fee and any other charges that may apply. 

Management fee 

The management fee is a percentage of the rent in a month that a property management company charges for its services. The industry standard is typically 8-10% of the rent, but it can vary depending on the company. This fee covers rent collection, maintenance, repair coordination, financial reporting, and tenant screening. 

Some companies may charge a lower fee for larger properties or for properties that are expected to have higher occupancy rates. Understand that a lower management fee may not necessarily be the best option if it comes with fewer services. Therefore, evaluate the value of the service offered and compare it to your needs. 

Additional property management fees 

Several additional property management fees may be charged in addition to the above fees. It is always advisable to research and compare fees for different property management companies. Consult directly with them to get an accurate quote. 

Lease renewal fee 

A lease renewal fee is a charge that some property management companies may apply when a tenant renews their lease on a rental property. This fee can range from a few hundred dollars to a percentage of the rent, depending on the company. This fee is in addition to the management fee and any other charges that may apply. 

The fee is usually used to cover the costs associated with renewing the lease, drafting new lease agreements, and updating tenant information. Some property management companies may waive the lease renewal fee if the property is in good condition. Understand the fee structure before signing a property management agreement. 

Maintenance fees 

Maintenance fees are regular charges incurred by the owners of certain types of property to cover the costs of maintaining common areas and amenities. Such fees are typical of condominiums or co-ops. The fees can vary widely depending on the type of property and its location, as well as the services and amenities included. 

The fees for properties in Denver range from $200 to $500 for condos, townhouses, and single-family homes and $300 to $800 for co-op and apartments per month. Expenses that maintenance fees may cover include landscaping, snow removal, security, and building repairs and maintenance. 

Leasing fee 

A leasing fee, also known as a finder’s fee, is a charge that is paid to a real estate agent, broker, or property management company to find a tenant to rent a property. This fee is typically paid by the landlord or property owner and is usually a percentage of the first month’s rent or a flat fee. 

The percentage fee can range from 6% to 12% of the annual rent. The flat fee can range from $500 to $1000 depending on the location, property size, and type. It would also depend on the services provided by the agent. The leasing fee is separate from the security deposit, rent, and other charges associated with renting a property. 

Conclusion 

Find out and compare the fees for different property management companies in Denver before deciding. This can help you get a sense of the typical costs for property management services in the area. When consulting with property management companies, be sure to ask about all of the fees that may be charged.

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Top BYOD Security Challenges and How to Prevent Them

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BYOD Security Challenges

As businesses continue to adapt to the ever-evolving technological landscape, the Bring Your Own Device (BYOD) trend has become an integral part of modern businesses. The ability for employees to use their personal devices for work purposes has increased productivity and flexibility in the workplace. But according to some research, 50% of companies that allowed BYOD experienced a data breach through a personal device. So, it is also essential for organizations to consider BYOD risks to protect their sensitive data. Engage with the professionals at IT Consulting Houston to mitigate the potential risks of BYOD.

In this article, we will delve into the most prominent challenges of BYOD facing organizations today and provide a comprehensive approach to mitigating and preventing them by protecting sensitive corporate data and assets. From device loss and theft to unauthorized access and cloud security, we will explore the various risks associated with BYOD.

Device Loss and Theft

Device loss and theft are one of the most significant security risks associated with Bring Your Own Device (BYOD) policies. With the increasing trend of flexible working arrangements, employees are more likely to carry their personal devices outside the workplace, making them vulnerable to lose or theft. When a device is lost or stolen, the sensitive corporate data stored on it can fall into the wrong hands, potentially leading to data breaches and financial losses.

One of the most effective ways to protect against device loss or theft is device encryption. Encryption ensures that even if a device falls into the wrong hands, the data stored on it will be unreadable without the proper encryption key. As a result, it can prevent unauthorized access to sensitive corporate data and protect the organization from data breaches. Another critical measure is remotely wiping a lost or stolen device. This allows organizations to remotely delete all data stored on a device, preventing unauthorized access to sensitive corporate data.

Malware and Phishing

Malware and phishing attacks are also emerging security challenges in a Bring Your Own Device (BYOD) environment. With the increasing trend of personal devices accessing corporate networks and data, the attack surface of malware and phishing attacks has expanded.

Malware is malicious software that can infect a device, steal sensitive information, or disrupt the device’s regular operation. Phishing attacks, on the other hand, are attempts to trick individuals into providing sensitive information or clicking on a malicious link, often through email or text messages. Both types of attacks can lead to data breaches and financial losses.

Organizations should implement a combination of technical and procedural measures to prevent malware and phishing attacks. One of the most effective ways to protect against malware and phishing is by using mobile device management (MDM) software. MDM software allows organizations to monitor, manage, and secure devices on the corporate network, including setting security policies, remotely wiping devices, and detecting and blocking malware.

Unsecured Wi-Fi Networks

Unsecured Wi-Fi networks are also a significant security challenge associated with Bring Your Own Device policy. With the increasing trend of remote work arrangements, employees tend to use personal devices to access sensitive data, often through unsecured Wi-Fi networks.

Unsecured Wi-Fi networks, such as those found in coffee shops, airports, and hotels, lack proper security measures, making them vulnerable to data breaches and cyber-attacks. Cybercriminals can intercept and steal sensitive corporate data when a personal device is connected to an unsecured Wi-Fi network. Therefore, organizations should implement technical and procedural measures to prevent data breaches on unsecured Wi-Fi networks.

One of the most effective ways to protect against data breaches on unsecured Wi-Fi networks is through virtual private networks (VPNs). A VPN creates an encrypted tunnel between a device and a network, preventing unauthorized access to the data being transmitted. It can protect sensitive corporate data from being intercepted and stolen while on an unsecured Wi-Fi network. Another critical measure is the use of encryption on personal devices. Encryption ensures that even if a device falls into the wrong hands, the data stored on it will be unreadable without the proper encryption key. Again, this can prevent unauthorized access risks to sensitive corporate data, including when connected to an unsecured Wi-Fi network.

Cloud Security

Cloud services have become increasingly popular in recent years as they offer a convenient and cost-effective way for organizations to store and share corporate data. However, as with any technology, cloud services come with security risks.

Storing corporate data in the cloud is one of the potential BYOD security risks for unauthorized access. When data is stored in the cloud, it is accessible to anyone with the proper login credentials, including employees, contractors, and third-party vendors. If these individuals do not have the appropriate access controls, they may inadvertently or maliciously access, modify, or steal sensitive corporate data. To mitigate these risks and ensure corporate data security in the cloud, organizations should implement a combination of technical and procedural measures.

One of the most important measures for cloud security is the use of access controls. Access controls limit who can access, modify, and delete data stored in the cloud. So, organizations should ensure that only authorized personnel have access to sensitive corporate data and that entry is regularly reviewed and revoked when no longer needed. In addition, organizations should also conduct regular security assessments of their cloud service providers, including penetration testing and vulnerability scans, to identify and address any potential vulnerabilities or misconfigurations.

Conclusion

The widespread adoption of Bring Your Own Device (BYOD) policies has created many security challenges for businesses. However, organizations can effectively protect their corporate data and mitigate these risks by implementing a combination of technical measures such as device encryption, mobile device management, virtual private networks and access controls, and regular security assessments. Additionally, employee education and awareness are crucial in preventing security incidents. Organizations need to be proactive in identifying and addressing the risk of BYOD to protect their corporate data and the continuity of business operations.

Post courtesy: Scott Young, President at PennComp LLC.

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How to Plan an Effective Disaster Recovery Strategy?

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How to Plan an Effective Disaster Recovery Strategy

When thinking about disaster recovery, most people typically picture major natural disasters like fires, floods, or earthquakes. But not all catastrophes in the field of cybersecurity are natural. For example, cyberattacks that destroy data or disable essential assets commonly cause unnatural disasters that affect many enterprises. IT Support New York specialists help create a successful disaster recovery plan.

Having a disaster recovery plan in place is an essential risk mitigation strategy, regardless of whether your company suffers a natural disaster or a cybersecurity threat. So what is a disaster recovery plan? How can you design a disaster recovery strategy that works for your company?

What is a Disaster Recovery Plan?

An organization can recover from a significant disruption by using a collection of tools and procedures known as a disaster recovery plan. Anything from cyberattacks to natural calamities can fall under this category.

The purpose of a disaster recovery plan is to ensure that the organization is prepared for any eventuality. This includes providing that the right resources are available when and where they’re needed, as well as ensuring that the organization’s operating processes are running smoothly in the event of a disruption.

A disaster recovery plan should also include provisions for communication and coordination between different parts of the organization, as well as backup plans for essential files and data. It should be updated regularly to reflect changes in technology and industry trends to remain up-to-date and relevant.

Steps Everyone Should Know for Disaster Recovery Plans

Inspect Every IT Resource

In order to make sure that your IT resources are ready for anything, it’s essential to audit them regularly. This can be done in a variety of ways, but the basic idea is to check for any potential problems and fix them as soon as possible.

One way to do this is by conducting regular vulnerability scans. This will help identify any security risks and vulnerabilities that may exist on your computer systems, which can then be fixed. You should also perform regular system updates to ensure that your systems are up-to-date and safe. Finally, you should monitor your email, and social media accounts for any suspicious activity or threats. If there are any issues, you can take appropriate action immediately.

These simple steps ensure that your IT resources are always ready for anything – even if something unexpected happens.

Identify What Is “Mission-Critical”

When it comes to Disaster Recovery Plans, one of the most important steps is determining what’s “mission-critical.” This means identifying the systems, data, and applications essential to your business and ensuring they’re always available and accessible.

If your mission-critical systems aren’t up and running when a disaster strikes, you’ll be drastically hampering your ability to carry out your normal operations. Some experts say that a Disaster Recovery Plan that needs more focus on mission-critical systems can be better than no plan. 

There are a few ways to identify what’s mission-critical:

  • First, look at your business from the perspective of an outsider. What would potential competitors or customers do if you need access to specific systems?
  • Second, ask yourself which systems would considerably improve your chances of success in the event of a disaster. For example, does it make sense to back up critical financial data? Is it wise to store critical marketing material online?
  • Third, take a closer look at how you use specific systems. Are there any that are particularly prone to fail in adverse conditions? Are there any that are especially important for customer support? Once you’ve identified these system(s), ensure they’re always backed up and ready for use in an emergency.

Employ Roles and Responsibilities for Everyone

Everyone in the organization should have a role in your disaster recovery plan. This includes not just managers and executives but also employees at all levels.

The purpose of having a well-defined DR plan is to ensure that everyone is prepared in case of an emergency. To ensure everyone understands their role, it’s important to establish clear responsibilities and guidelines. This way, everyone knows exactly what they need to do to help support the organization’s DR plans.

Here are some guidelines that can help you create roles and responsibilities for your employees: 

  • Employees should be aware of the organization’s disaster recovery plans and be able to answer basic questions about them.
  • They should ensure that their workstation and office are appropriately configured for DR purposes and that all required files are backed up regularly.
  • They should be able to communicate with co-workers if there are any issues with the organization’s DR plans or procedures. 
  • Employees should report any incidents or problems with DR procedures or plan implementation directly to their manager.

Determine Your Recovery Goals

Determining your recovery goals can help you plan for a successful recovery from a disaster. Recovery points are points in time during which you will be able to resume your normal activities. Recovery time objectives are goals you want to accomplish over the course of your recovery period.

By setting these objectives, you will be able to prioritize your resources better and ensure that you’re recovering as fast as possible. It’s also important to keep in mind that your goals may change over time as your experience and understanding of the situation change. Ultimately, this is an essential part of any successful disaster recovery plan.

Establish a Recovery Plan Test

Having a method for regularly testing your disaster recovery plan is essential. This is because no plan is perfect, and there is always the possibility of an unexpected event that could cause disruptions in your business. Testing your plan will help you identify any issues early on and make necessary adjustments in order to ensure that your business is as resilient as possible.

There are a few different ways you can test your disaster recovery plans. You can use simulations or drills to practice scenarios that might occur during a real emergency. Alternatively, you can use live data to test how your systems respond to unexpected events. Finally, you could also perform scans or vulnerability tests on key systems to identify potential security vulnerabilities.

The critical thing is to find a way to test your plan regularly and ensure that it’s up-to-date and reflects the latest changes in the industry. By doing this, you’ll be able to build an effective disaster recovery strategy that will keep your business running smoothly during tough times.

Post courtesy: Chris Forte, President, and CEO at Olmec Systems.

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