Category: Business

  • A Startup Challenge by TE Connectivity

    A Startup Challenge by TE Connectivity

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    The future of transportation is electric. E-mobility – the electrification of a vehicle’s drivetrain – is transforming the way people and goods move from place to place, and automakers are re-writing their strategies to meet market demand for EVs. TE Connectivity (TE) has been at the forefront of the e-mobility transformation since its inception more than two decades ago, building on its position as the clear-cut expert in electrical interface design for both passenger cars and commercial vehicles. TE has launched its “Power Up with E-mobility” startup challenge in this context. Learn more about the selection of finalists, pitch events, and criteria for winning.

    Criteria for Selecting the Six Finalists of “Power Up with E-mobility”

    To be considered in TE’s “Power Up With E-Mobility” challenge, you must submit your application by November 4th, 2022.

    During the month of November, the applications will be screened by an expert panel that consists of TE subject matter experts from the E-Mobility team as well as global representatives from business and technology functions.

    Based on the following criteria, the six finalists will be selected:

    • Uniqueness and creativity: the level of innovation in the proposed technology, product, and/or service and whether it represents a significant step forward in technology;
    • Technology readiness level;
    • Added value, potential, and customer benefit (e.g. usability, practical relevance), and
    • Business model: the capability of the entrant to support the development of the proposed technology, product, or service.

    Exclusive Pitching Event & Collaboration Session with TE Engineers

    Tuesday, December 6th: The six finalists will be invited to a TE internal pitch event which will take place as a virtual online meeting. The finalists will have the opportunity to highlight their technologies in a 10-minute pitch followed by a 5-minute Q&A with the audience. The audience will consist of senior TE representatives from various functions, including product management, strategy, engineering, manufacturing, marketing, and mergers & acquisitions, among others, as well as TE’s expert automotive engineers.

    After the pitch event, each finalist will be matched with three or four pre-selected TE engineers. The goal is to jointly think of a good use case to apply your technology to, such as a new or improved product, process, or service for TE. By interacting with TE’s engineers, you’ll be able to fine-tune your solution to TE’s business, for instance, by enhancing a product or addressing a problem.

    Wednesday, December 7th: Once you are matched with TE engineers, you can start the brainstorming session right away. You decide with the TE engineers when (based on location/availability/time zones, etc.) to get together to discuss use cases, refine your ideas, and prepare a pitch presentation for your proposal of choice.

    Final Day Sessions & Selection of the Winner of “Power Up with E-mobility”

    Thursday, December 8th: Your proposal will be presented in a second pitch event. The format and the audience will be the same as for the first pitch event. During this second pitch event, presentations will be judged in real time by the panel of judges, and shortly afterward, the final winner will be announced. The winning criteria will be the same as used for the first selection (see above) to choose one final winner for the USD 30 000 equity-free, no strings attached cash prize.

    TE provides Benefits & Opportunities for All Six Finalists

    Although only one winner will be chosen for the cash prize, opportunities to engage with TE in subsequent PoCs or pilot programs are available to all six finalists. All finalists, with a special mention of the winning team, will be included in a TE press release to highlight the results of this open innovation challenge.

    The pitch events and the collaboration phase with TE engineering, however, are also opportunities for you to win because they will provide you with exposure to senior representatives and experts, and your chance to promote your solution. The second pitch gives you a second chance to present a convincing case so that TE could potentially collaborate with you further. After your discussions with TE’s engineers, you’ll also have a tailored, more attractive offering to get people interested in a proof-of-concept or pilot program with you.

    This is a unique opportunity so don’t wait or hesitate – click here to apply today!

     

     

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  • Scale Your Solution with DICA Acceleration & Co-Creation Program

    Scale Your Solution with DICA Acceleration & Co-Creation Program

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    DICA is the beverage industry’s leading innovation community for business acceleration and business-to-business (B2B) co-creation. The DICA Acceleration & Co-Creation Program is now accepting applications for its new batch, supported by industry and innovation partners, such as the Ardagh Group, Bitburger Braugruppe, drinktec, Franken Brunnen, and INSIDE-Getränke.

    The accelerator works with startups from different backgrounds on topics ranging from digital transformation in logistics and supply chains to sustainability and packaging. This year, DICA seeks new circular business models and solutions for the beverage industry.

    Looking to Scale Your BevTech Solution?

    As long as your BevTech solution positively impacts the beverage industry, there is potential for acceleration and co-creation with DICA and its corporate partners. This time, the accelerator program focuses on

    • Circular Economy solutions for the beverage industry
    • Digital Transformation in beverage logistics, production, or distribution
    • Sustainable Packaging for beverages
    • BevTech solutions addressing social change
    • Innovative beverages or Unique Beverage Experiences

    DICA is a starting point for startups and established companies to accelerate their innovative BevTech solutions. Not only that, DICA accelerates startup teams of all stages — from idea-stage innovators to startups into the first years of operation. This significantly bridges the gap between established players and startups — a key element in addressing issues ranging from consumer behavior and sustainable change to efficient and effective digital transformation across the beverage industry.

    Apply for the DICA Acceleration & Co-Creation Program to Boost Your BevTech Business

    Discover how joining the DICA Acceleration & Co-Creation Program will benefit your business:

    • Pre-matching Workshops that focus on B2B Co-creation for selected startups with identifiable potential.
    • Exclusive Matching Events include the initial and mutual meetings, as well as the inclusion of startups in the upcoming DICA batch.
    • The Sounding Phase involves finalizing the co-creation potential with the support of experienced co-creation facilitators.
    • B2B Co-Creation Acceleration is startups’ development phase of the co-creation process.

    Explore DICA’s Role in Scaling Innovative BevTech Startups

    Successful examples from the previous batches of the DICA program clearly show that the model of acceleration & co-creation works. Learn how DICA-supported startups are transforming the BevTech industry with their innovative solutions:

    • Re:drink: This BevTech startup provides a digital beverage dispenser that acts as a platform for flavors and allows customers to personalize their drinks. Re:drink’s innovation reduces plastic consumption and carbon emissions.
    • Optiwiser A.I.: German startup Optiwiser A.I. develops a cloud-based supply chain solution Predictwiser.Cloud. The solution enables AI-driven demand planning and inventory optimization for the food and beverage industry. The startup digitizes and automates customer supply chains while eliminating food waste and stock-out situations.
    • The Smart Container Company: UK-based startup enables sustainable and technologically-advanced supply chains in the beverage industry. Its IoT device, KegTracker, instantly connects circular packaging options and uses data science and machine learning to provide beverage companies with transparency and operational excellence.
    • Nix & Kix: UK-based beverage startup offers health-conscious natural soft drinks without using refined sugars, artificial flavorings, or additives. All its drinks are vegan and low in calories — below 5g of sugar per 100ml.

    Timeline for the DICA Co-Creation & Acceleration Program

    • Last date for submitting your application is 15th November!
    • Selection & Matching will take place on 13th December 2022

    Initiated by the Strascheg Center for Entrepreneurship (SCE), DICA gives you access to industry expertise in co-creation support for startups and established companies. From understanding consumer behavior and sustainable change, DICA brings efficient and effective transformation across the beverage industry.

    Ready to build or scale your solution with the DICA Co-Creation & Acceleration Program? Apply today!

     

     

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  • Wireless Sensors for Secondary Substations

    Wireless Sensors for Secondary Substations

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    Global renewables leader, Iberdrola, has more than 400,000 Secondary Substations spread across the United States, Brazil, the United Kingdom, and Spain. These substations house more than 1,5 million medium- to low-voltage distribution transformers. They provide a high-quality service to 31 million electricity supply points. In this context, Iberdrola is launching Wireless Sensors for Secondary Substations Startup Challenge.

    It is seeking advanced sensor solutions in the secondary substations to increase efficiency and monitor the conditions of the installation and critical equipment such as medium-voltage switchgear, medium-low voltage transformer, low-voltage panels, etc. Sensor data on transformer centers enable preventive maintenance, the early detection of anomalies and serious incidents, as well as possible breakdowns.

    What is the Iberdrola Global Smart Grids Innovation Hub?

    The Iberdrola Wireless Sensors for Secondary Substations Startup Challenge is launched within the framework of the new Global Smart Grids Innovation (GSGI) Hub. Iberdrola is building a worldwide smart grid benchmark through open collaboration and co-working between i-DE technicians, suppliers, and startups, as well as different organizations from all around the world.

    Are You a Good Fit for Iberdrola’s Wireless Sensors for Secondary Substations Startup Challenge?

    The Startup Challenge is accepting applications from any startups making sensors serving general purposes including but not limited to detecting tightening of connection terminals, smoke, CO2, intrusion, natural calamities like floods, as well as measuring temperature, humidity, and voltage. Iberdrola is looking for wireless sensor solutions for:

    • Early detection of serious incidents and anomalies
    • Technology integration with edge computing, AI, camera, computer vision, etc.
    • Plug & Play monitoring system that integrates with BT RTU and Zigbee
    • Optical or thermographic cameras and integrated data processing capabilities

    Moreover, when assessing your proposal, Iberdrola will consider sensor solutions leveraging the following technologies, among others:

    • Thermal Infrared
    • Internet of Things (IoT)
    • Artificial Intelligence (AI)
    • Computer Vision
    • Edge Computing

    This challenge is also open to proposals that do not fit this case study. Such solutions will also be analyzed, provided that the competitive advantages of the proposal for a specific type of site are clearly explained.

    Explore the Benefits of Collaborating with Iberdrola

    Iberdrola is a well-known name among startups and emerging companies for sustainable innovation. Over the last couple of years, Iberdrola has launched over 20 Global Startup Challenges to address common challenges in today’s energy networks.

    Here are the top reasons why you should apply for the Startup Challenge:

    • Collaboration Agreement & Pilot Test: The prize for the winner consists of collaboration and test agreement with PERSEO or any other Iberdrola group company. The group will support the cost of the pilot activities.
    • Access-all-Areas: Iberdrola will provide the winner with all necessary technical support, as well as a site and real data to test the solution. This includes access to equipment, teams, infrastructure, high-technology sites, and shared work areas.
    • Scale Your Technology: If the pilot test is satisfactory, Iberdrola may offer the winner the opportunity to scale up the solution by adapting it through commercial agreements.
    • Potential Investment: What’s more, PERSEO will consider investing in the participating company and/or the winner of the challenge.

    Your solution will also be included directly in the Global Smart Grids Innovation Hubs registration process, as a collaborator and able to benefit from the services, activities, and resources that the GSGI Hub makes available.

    How Will Iberdrola Evaluate Your Proposals?

    Your proposals will be evaluated by technical specialists from Iberdrola Networks and they will consider the following value propositions, among others:

    • The maturity, reliability, and scalability of the solution, including hardware (sensors), and software/algorithm for both equipment management and data processing to generate warnings.
    • The simplicity of installation (Plug & Play feature).
    • Whether the solution is low maintenance and self-powered.
    • The total cost of installation and maintenance.
    • Application in other energy assets such as substations and overhead lines.

    Timeline & Structure of the Iberdrola Wireless Sensors for Secondary Substations Startup Challenge

    Applications are now open!

    The last date for submitting applications is — 19th December 2022!
    Specialists from the Iberdrola Networks group will evaluate your proposals by — February 2023.
    The pilot project will begin in 2023 — details to follow soon!

    Ready to scale your wireless sensor solution with Iberdrola? Click here to apply today!

     

     

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  • Co-Found Your Solution with NBT Visionaries Incubation Program

    Co-Found Your Solution with NBT Visionaries Incubation Program

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    Do you have a startup idea involving IoT, AI, or other Industry 4.0 technologies? Next Big Thing (NBT) gives you a chance to co-found your solution with runway capital, top-tier talent, hands-on support, industry partners, and more. Apply by 15th January.

    Next Big Thing AG is a leading venture studio and technology provider that accelerates the world’s transition toward the Machine Economy. It helps to build new companies as well as scale existing ones. This time, NBT is calling for innovators to participate in its NBT Visionaries Incubation Program to co-found their technology company.

    Join NBT in Building the Future of the Machine Economy

    NBT predicts that by 2025, the world will have more than 40 billion interconnected devices, including almost every object around us, such as streetlights, cars, and thermostats, among others. Moreover, by 2030, the AI market is projected to grow by 13 times with a CAGR of 38%. NBT is actively working to contribute its part in this digital transformation through:

    • Empowering Innovation: ​​NBT enables people and organizations throughout the economy and society to participate in innovation to provide new ideas, knowledge, and capabilities. With its platform, it turns people into successful founders and enables organizations to become B2B innovators.
    • Making Technology Accessible: NBT works to make it easier for everyone to access and use technology and navigate the digital world. Connectivity improves lives daily, and the Machine Economy will be the next step — from democratized access to healthcare to the augmentation of human abilities.
    • Pioneering a Sustainable Future: NBT promotes sustainable thinking and development to pave the way toward climate neutrality, provide technology, and support venture builders to positively impact the economy and the world following the United Nations Sustainable Development Goals (SDGs).

    Why Join the NBT Visionaries Incubation Program?

    The NBT Visionaries Incubation Program will help you navigate the tech startup idea maze, provide resources to accelerate concept validation, invest starting capital, and build your next-generation business model with multiple in-house experts. What do you stand to gain from joining the NBT program?

    • €125k as initial runway capital (at incorporation)
    • 9-12 months of hands-on support from the NBT venture studio, product, design & tech team (service hours worth up to €1.6M)
    • Up to €500k in total investment, available through institutional seed rounds
    • Higher chances of securing further investment rounds

    Should You Apply for the NBT Visionaries Incubation Program?

    NBT Visionaries Incubation Program is giving you a chance to turn your new IoT and AI-powered business models into reality if you have a startup idea involving, but not limited to, the following focus areas:

    • Digital Excellence in Industrial Manufacturing: Are you envisioning empowering global manufacturing and industrial companies to streamline, simplify, digitize, and/or automate their production and service organization? NBT Visionaries seeks smart solutions for:
      • Connected manufacturing & Industry 4.0
      • Real-time robotic control & production automation
      • Digital knowledge management & operator support
      • Digital after-sales
    • Smart & Connected Energy: Do you have an idea for data-driven technologies and smart services to enable efficient generation, distribution, and consumption of renewable energy? Work with NBT to digitize, simplify and automate the energy system to create an economic, sustainable, and secure energy future. NBT Visionaries is looking for founders to build sustainable solutions for:
      • Enablement of green energy generation
      • Predictive & AI-driven surveillance, maintenance & automation
      • Decentralized energy systems
      • Off-grid energy solutions
    • Digitalizing Real Estate & Infrastructure: Do you have an idea for data-driven technologies and smart services to enable efficient generation, distribution, and consumption of renewable energy? Work with NBT to digitize, simplify and automate the energy system to create an economic, sustainable, and secure energy future. Specifically, NBT is looking for solutions that address:
      • Building and asset health monitoring
      • Digital real estate management
      • Connected buildings & system infrastructure operations
    • Future of Warehousing & Supply Chains: Are you ready to build digital and sustainable solutions for inter- and intralogistics to provide transparency, connectivity, efficiency, and stability in industrial warehousing and global supply chains? NBT is looking for founders building smart solutions in areas such as:
      • Smart warehousing & inventory management
      • Supply chain transparency & visibility
      • Supply chain resilience & risk management
      • Digitally-enabled freight management
      • Fleet tracking & monitoring

    Structure of the NBT Visionaries Incubation Program

    • Deep Dive — Define your industry challenge and conduct rigorous, in-depth market and user research.
    • Idea Validation — Derive insights from interviews to develop, refine, and execute various tests to validate the future direction of your idea.
    • Business Model — Develop a sustainable, transparent B2B tech business model and company vision based on your feedback from potential customers.
    • Rapid Prototyping — Define your go-to-market strategy and product roadmap to verify the viability of your prototypes using different evaluation methods.
    • Financial Modeling — Create a detailed financial model for your venture that investors can trust.
    • Demo Day — Pitch in front of the NBT Investment Committee and secure your first funding. If you are successful, you will have the chance to get financing of up to €125k, while gaining access to NBT’s stellar network.

    Timeline of the NBT Visionaries Incubation Program

    Applications are now open!

    The last date for submitting applications is 15th January 2023!

    The venture-building process will take place in 3 steps:

    • NBT Visionaries (3 months) — this includes prototyping & testing and signed LOIs
    • NBT Ventures (24 months) — in this stage you get MVP, MMP, GTM strategy
    • NBT Portfolio (12 months) — you receive the IP, HW certification, and fundraising

     

    NBT can be your dream co-founder! Besides technical and financial support, it serves as a continuous thought partner as you prepare to launch your technology company.

    Ready to build your innovative solution with NBT Visionaries? Apply today!

     

     

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  • The Startup Magazine How to Achieve Pay Equity Among Employees

    The Startup Magazine How to Achieve Pay Equity Among Employees

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    Pay equity is the principle that employers should pay employees equally for doing comparable work, regardless of their gender, race, or other protected characteristic. It’s an important issue for employers to be aware of, as unequal pay can lead to discrimination claims and other legal problems. As women and minorities continue to face wage disparity, it is an important issue in the workforce.

    There is no news about employees having issues with their paycheck stubs. An employee may seek redress for unpaid overtime through his immediate supervisor or human resources department, or through his local labor department if the employer disagrees with his contention. To prevent issues with employee paychecks, make a paycheck stub for your employees using Real Check Stubs maker.

    This article explores how to achieve pay equity among employees.

    There are several ways to narrow pay gaps among employees. Here are a few tips:

    1. Conduct regular pay audits to ensure that all employees are being paid fairly. This will help identify any disparities that may exist. Employees should carry out an audit of payrolls at least once a year to ensure that the process is up to date and in line with legal requirements. It provides shareholders with confidence that the accounts are fair, as well as improving the company’s internal controls and systems. An audit can identify ghost employees, ensure the correct calculation of taxes, and identify any time clock errors that are made.
    2.  Make sure that job descriptions reflect the skills and experience required for the position. It is crucial to understand the duties and responsibilities of a particular position in order to protect an organisation and to help employees set personal career goals.
    3.  Evaluate employees based on their individual performance, rather than using general stereotypes. Building better teams, improving employee motivation, and enhancing communication are all issues that promoting the right people can address.
    4.  Provide training on pay equity issues to managers and employees and other decision makers. Businesses around the world rely on employee training and development programmes for success. Employees can not only gain new skills through these programmes, but employers can also gain higher employee productivity and a better corporate culture.
    5. Regular communication with employees about pays equity can help to ensure that everyone agrees and that it addresses any concerns.  Communication builds relationships of trust and commitment to ensure that employees get the information they need.

    Managing pay equity is an important part of being a fair employer. By taking steps to ensure that all employees are being paid fairly, you can help to create a more diverse and inclusive workplace. As more research confirms that these gaps are real, more information will be garnered on education and tenure-adjusted implications. 

    These tips can help you create a more diverse workplace environment; be conscious of unconscious bias, give your employees multiple avenues for expressing their thoughts and begin at the top to establish a healthy workplace environment.

    An equal pay system would boost economic growth, innovation, and competitiveness, as well as reducing poverty.

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  • The Startup Magazine The Entrepreneurial Journey; The Skills Neil Parsont Says Are Required to Be Successful

    The Startup Magazine The Entrepreneurial Journey; The Skills Neil Parsont Says Are Required to Be Successful

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    What does it take to be a successful entrepreneur? The answer is a combination of skill and luck, says Boca Raton, Florida, business owner Neil Parsont. This response may sound disheartening, but Neil has found ways to make luck work for him. Luck comes to those who are Loving, Understanding, Caring and Kind. By living a life of integrity and thinking of others, opportunities naturally come Neil’s way. He has seen this same phenomenon happen for his friends. However, taking advantage of these lucky opportunities requires skills. These include creativity, risk-taking, tenacity, and a willingness to learn. These qualities are necessary to achieve success in any business venture. So if you’re planning to start your own company, develop these essential entrepreneurial skills.

    Determination

    Determination is a quality that is highly prized in many areas of life. From athletes to academics, those who are determined to achieve their goals are often the ones who succeed. This is because determination provides a sense of focus and perseverance. When faced with adversity, Neil Parsont says determined individuals are more likely to find a way to overcome obstacles and reach their goals. In some cases, determination can even lead to success in the face of overwhelming odds. It is no wonder that so many people strive to develop this quality within themselves. By harnessing the power of determination, we can all achieve great things.

    Risk-Taking

    Taking risks is an essential part of life. Without taking risks, we would never experience the thrill of success or the lessons of failure. Of course, not all risks are created equal, and some are more likely to lead to positive outcomes than others. When weighing the pros and cons of a potential risk, it’s essential to consider the worst-case scenario and whether you’re prepared to deal with it. You should also ask yourself how likely the desired outcome will be achieved. Taking thoughtfully calculated risks can help you achieve your goals, but rash decisions can lead to unnecessary problems. Ultimately, it’s up to you to decide whether the potential rewards are worth the risk.

    Creativity

    Many people believe that creativity is something that only artists and musicians possess. However, creativity is not limited to the arts. In fact, it is a critical component of success in any field. Creative individuals can see problems from new perspectives and develop innovative solutions. They are also better able to adapt to change and overcome challenges. For these reasons, employers increasingly value creativity in their employees. Whether you are an artist or an accountant, developing your creative potential can help you achieve success in your chosen field.

    Leadership Skills

    There is no one formula for success when it comes to leadership, says Neil Parsont. The ability to lead effectively is a complex skill set that incorporates many different qualities. However, there are some key skills that all successful leaders share. Firstly, they can inspire and motivate others. They also possess excellent communication and problem-solving skills. In addition, successful leaders are typically well-organized and able to make quick decisions when necessary. Perhaps most importantly, they can delegate responsibility and build strong teams. By developing these skills, you can set yourself on the path to becoming an effective leader.

    Communication And Networking Skills

    Good communication and networking skills are essential in any profession. Communicating effectively with co-workers, clients, and customers is crucial to maintaining relationships and ensuring that projects run smoothly. Strong networking skills also come in handy for networking with potential employers and clients and keeping up with industry news and trends. In today’s fast-paced world, communicating effectively and networking can give you a significant advantage in the job market. Therefore, honing your communication and networking skills is a great place to start if you’re looking to improve your career prospects.

    Time Management Skills

    Anyone who has tried to manage a busy schedule knows how difficult it can be to stay on top of everything. Neil Parsont says with so many demands on our time, it is essential to have good time management skills. One way to improve your time management skills is to keep a daily planner. This can help you track your commitments and ensure you are using your time efficiently. Another helpful tip is to set aside specific times for tasks that need to be completed. For example, you might dedicate an hour each day to responding to emails. Following these simple tips, you can learn to manage your time and make the most of your day.

    Assertiveness

    Being an entrepreneur requires a lot of assertiveness. You need to be able to take risks, make decisions, and stand up for what you believe in. To be successful, you need to be able to communicate your ideas clearly and confidently. You also need to be able to network with other entrepreneurs and build relationships with potential clients and customers. Developing strong assertiveness skills will help you to succeed in the competitive world of entrepreneurship.

    Final Thoughts

    As an entrepreneur, Neil Parsont says you must live a life of integrity and honesty with a strong sense of purpose and determination to achieve your goals. You also need to take risks and be creative to succeed. In addition, leadership skills, communication, and networking skills, and time management skills are essential for entrepreneurs. Finally, it is important to be assertive when communicating with others. Developing these qualities will increase your chances of becoming a successful entrepreneur.

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  • The Startup Magazine Setting Up Your Startup’s Office? An Essential Guide

    The Startup Magazine Setting Up Your Startup’s Office? An Essential Guide

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    Getting an office is a big step for any startup. Often, it symbolizes the progress one has made as an entrepreneur, and the confidence they have in growing the startup to profitability. But, just as the business grows and demands increase, a startup office setup comes with additional costs and more organizing tasks.

    Diverse group of young people having a meeting at the office – Startup office

    Although most startups start with small teams and grow gradually, knowing what to look for and how to set up an initial office can make this transition seamless and successful. If you’re a startup entrepreneur, this essential guide provides valuable insights to help you set up your startup’s office:

    1. Balance Cost And Prestige When Picking Office Location

    When setting up a startup office, location is the most critical factor you’d need to consider seriously. When picking a location, consider prestige and the cost that goes with it. For example, getting an office at the heart of your city would send a strong message of class and ambition to your target clients, staff and shareholders.

    However, you’d have to pay huge amounts for such an office. Opening an office away from the city would be cheaper, but it may not be favorable to most customers and future employees. Consider both aspects before opening an office. Instead of going for either extreme, opt for the middle ground.

    Look for affordably-priced offices in other parts of the city and find a suitable one that can be accessed easily by private and public transport. If your budget allows, you can lease an open space and get an experienced container modification service provider like Royal Wolf NZ to help you set up your first office.

    1. Pay Attention To Office Interiors

    As a company in the startup stage, you’d like your office to reflect the ethos you espouse. Whether you’re a tech startup or a professional service company, you want an impressive office. Whatever your goal is, go for office features and furniture that bring your working space and brand to life.

    Most entrepreneurs start with standard desks and adjustable chairs. L-shaped desks offer better space for personal computers. Either way, check office supplies catalogues to find the right furniture that suits you. Own your interiors by adding brand signage, and getting branded stationary and other items.

    1. Choose An Office Structure

    You must consider office structure when setting up a startup office. Although open office space is the current trend, you must consider the layout.

    Before you think about budget, space, and maintenance limitations, figure out how to divide the office space well to maximize utility and ease of movement.

    You should be able to organize the layout in such a way that employees with the same responsibilities are grouped together. But keep in mind that every team member in your startup needs working spaces where they can be alone and think.

    The office environment influences work quality. Therefore, you should consider carpeting your office and adding curtains to reduce noise that may distract employees.

    Further, partition your office to create important spaces, such as brainstorming room, paperwork room, kitchen, and washrooms.

    1. Get The Right Office Equipment

    As a new entrepreneur, you can save a lot of time by getting the right equipment for your office. Although you might have to pay more to acquire such equipment, you’ll recoup your investment quickly. Purchasing the right software can boost productivity and accuracy while enabling your team to work efficiently. Quality hardware would be more reliable and faster, reducing downtime and stress for your team.

    If your office needs a photocopier, opt for one that can handle your expected workload. If you decide to lease a copier, consider the maintenance charges. Startups that need to regularly re-type large volumes of text should invest in an optical character recognition scanner.

    An all-in-one printer would do if you only need to scan documents occasionally. Check the alternatives available before you buy or lease office equipment.

    1. Fix Office Communication

    The other important aspect of setting up your startup’s office is communication. Ensure that your customers, investors, suppliers, employees and other stakeholders can easily reach your office. Consider the different services and equipment your business needs to be contactable when setting your office up.

    Start by getting sufficient phone lines and extensions. Check the various phone systems available in the market and contact a supplier who can give you a suitable installation deal. You have the option to buy, lease or rent communication equipment. If you do so, get a system that offers essential features such as call waiting alerts, call diversion, and voicemail services. Most suppliers and customers prefer email communication; ensure you set that up too.

    Final Thoughts 

    Your startup office setup can be an exciting step in your entrepreneurial journey. However, it’s a process that requires careful planning and execution. Follow the steps highlighted in this guide to give your business a sound footing.

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  • The Startup Magazine 3 Key Ways to Set Yourself Apart as a Business Owner When You’re a New Entrepreneur

    The Startup Magazine 3 Key Ways to Set Yourself Apart as a Business Owner When You’re a New Entrepreneur

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    When starting a business for the first time, it’s a good idea to set yourself up for success as well as possible. There are many ways to do this, but one worth considering is thinking about ways to set yourself apart from other new business owners and do things a little differently. Here are three key entrepreneur traits you should focus on.

    Be Open to Learning New Things

    Firstly, be open to learning new things. To create a business that thrives well over the years, you must continually develop yourself and expand your knowledge and skills. The more you learn about different business topics, the better you will be able to make decisions and spot opportunities you can take advantage of and notice potential issues to mitigate.

    While you may feel that you know your trade or industry well, working in the field is very different from running a business. As such, you need to be humble enough to recognize what you don’t know and learn more skills to help you along your entrepreneurial pathway. For example, you might want to enroll in a business course, attend seminars and workshops, or read books, blogs, reports, whitepapers, magazines, and the like.

    It also pays to attend industry events to network and learn new things, such as at trade shows, conferences, and product launches, and to join business clubs and associates. You might also like to engage the services of a mentor. Choose someone who has “been there and done that” in the business world before to guide you along your path, and you will set yourself apart from many other owners of ventures who don’t bother with this step.

    Don’t Try to Do Everything Alone

    Next, remember that you can’t and shouldn’t attempt to do absolutely everything by yourself in your business. While you might need to be a solopreneur for a while as you’re starting up and building your organization to a certain point, this doesn’t mean you shouldn’t take advantage of the support and knowledge of others. Then, when the time is right, you’ll want to invest in hiring staff members and growing your team.

    Source: Pixabay via Pexels

    Before then, though, you can outsource many tasks to professionals with more knowledge, skills, and interest in various areas. For instance, you could hire an accountant or bookkeeper to handle various financial and tax-based jobs for you or engage the services of a law firm to teach you how to trademark a business name and otherwise protect your venture’s valuable intellectual property.

    You might hire graphic designers to assist you with creating marketing collateral, freelance writers to help you make all the content for your business as engaging as possible, and IT people to help you create an effective website. You may need HR personnel to aid you in hiring, training, and handling the payroll and paperwork for employees when you have them, too.

    It’s also beneficial to ensure you have people in your life whom you can vent to when being an entrepreneur becomes too much. If those support systems are also self-employed and understand the complexities of running an organization, even better.

    Develop Key Traits that Top Leaders Require

    Lastly, take the time and effort to develop as many top traits of effective leaders as you can. Working on your personal strengths will help you in many ways as an entrepreneur. For example, you must be a good communicator and relationship builder who can get a message across clearly to employees, suppliers, clients, potential or current investors, the media, and others. You must communicate well in person, over the phone, via online conversations, emails, and other written methods.

    Resilience is crucial, too. No matter what line of work you do or the type of products or services you sell, the reality is that things won’t always go to plan. You’ll have to cope with plenty of “nos” from other people and things not going your way, even when you plan and prepare for them.

    This all requires a good dose of resilience and perseverance so you can cope with the hard times and keep going, even when things seem dire. Similarly, you’ll need to be flexible, deal with changing direction as necessary, and be open to making new plans when unexpected barriers arise.

    Other traits that leaders require to run successful businesses are delegation, time-management, and problem-solving skills, as well as the ability to negotiate well, engage in positive conflict resolution and be adaptable, focused, creative, and self-aware.

    Summary

    Focus on the above three entrepreneur traits, and you should find that you quickly set yourself apart as a business owner because you do things in a way that many new (and even experienced) entrepreneurs do not.

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  • The Startup Magazine Advice from Attorney Robert McKenna III on Making Hybrid Office Arrangements Work

    The Startup Magazine Advice from Attorney Robert McKenna III on Making Hybrid Office Arrangements Work

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    Businesses all across the world have switched to remote working models as a result of the COVID pandemic. Currently, some businesses are allowing workers to go back to their offices, but many are switching permanently to hybrid or remote work arrangements. Numerous advantages can be had from both setups, but they also have the potential to pose serious difficulties.

    Robert McKenna III, a well-known medical malpractice lawyer, is a partner in the Huntington Beach, California law firm Kjar, McKenna & Stockalper LLP. We recently had a conversation with him to get his tips on managing hybrid office setups and learn how his company’s foresight and proactive approach helped it thrive as the COVID pandemic wore on.

    Seeing the COVID Storm on the Horizon

    As soon as people started to understand the pandemic’s effects, they realized that continuing with “business as usual” wouldn’t be an option. As business leaders began comprehending the fast-changing circumstances and implementing workable solutions, time started to run out. Nearly every element of how individuals interacted, both personally and professionally, was drastically altered by the coronavirus.

    There isn’t really a way to qualify how the epidemic affected society, even though the severe effects may eventually be quantified with numbers and statistics. There has, however, been a silver lining for business managers like Robert McKenna, who had the vision to spot the logistical storm coming when it was still on the horizon and was able to mitigate some of its destructive power.

    McKenna correctly predicted that COVID would prove to be a far more significant dilemma than most people thought. McKenna had a brief exchange with a contact who worked at a trading and venture capital firm in February 2020, when cases of the pandemic started to be reported across the U.S., which gave him the unmistakable impression that disaster was looming.

    Taking An Early Warning Seriously

    McKenna was able to obtain information from this company’s virologists and immunologists that suggested that the coronavirus might, in fact, turn out to be a grave concern. McKenna had a gut feeling he should take this warning seriously. McKenna believed it was “better to be safe than sorry,” even if it all ended up being for naught. The company would need to prepare backup plans “just in case,” McKenna told his office manager and partners, adding that there was a chance their offices might need to close for a few weeks.

    People were initially skeptical of McKenna’s theories. But McKenna ensured that his business had a basic framework in place that would enable it to continue operating even if the pandemic made it difficult or impossible for the company’s employees to enter the firm’s offices. Examining his enterprise’s operational practices, McKenna concluded that most work could probably be done offsite, with the exception of a few small hands-on activities that could be completed in a few hours each day.

    A national emergency was declared for COVID in March 2020, just as McKenna’s firm was preparing to attempt a dry run of a reduced workforce exercise at the smaller of the company’s two offices. Fortunately, the transition from the company’s onsite work model to a hybrid one was largely painless because of McKenna’s foresight. Despite the process moving more quickly than he’d hoped, McKenna felt good about having a strategy in advance.

    Hybrid Office Arrangements

    In-person and remote work combine in a hybrid model. In hybrid work arrangements, employees spend time each week onsite at a company’s offices and the rest of the time working remotely. Although managing distant teams can be difficult, this method has the potential to offer the “best of both worlds.” Fortunately for us, McKenna has outlined a few crucial success strategies that can help hybrid office arrangements work out as well as they have for his firm.

    Why Should Hybrid Models Be Considered?

    As the pandemic progressed, CEOs like McKenna realized that employees could work remotely and still be quite productive. “It became clear that most people can get their job done remotely and that there’s not a decline in productivity or work product,” thought McKenna. “People can manage their time and their work.”

    A better work-life balance for employees and time and money saved on worker commuting costs were other advantages that businesses identified in remote work arrangements. But while this was going on, teamwork and communication occasionally faltered, and some employees discovered that they still liked working in the office.

    On reflection, McKenna observes that “There were some people that voluntarily came into the office. For some folks, their apartment or home was not really conducive to trying to work for eight hours a day.”

    McKenna’s team members made it plain that their new preference was a hybrid work model when a return to offices became a serious possibility. “We decided that experienced administrative staff would only come in two days a week because there are still some things that work better with having somebody in the office,” McKenna explains. “They get to pick what two days they come in. It’s been a very collaborative, cooperative effort to make sure there’s at least a skeleton crew every day, so not everybody’s working from home on Mondays and so on. We’ve been doing that since May, and it’s been working well.”

    The Advantages and Disadvantages of Hybrid Working Models

    While being in an office or working remotely both offer benefits, a hybrid work style can include the best elements of each. Employees can commute for less money and time, enjoy more freedom, and still visit the office when necessary for location-specific activities and collaborative working. While some employees believe they’re more productive at home, others think they’re more effective in an office setting. The flexibility of hybrid arrangements can fit a variety of work preferences and styles.

    McKenna is sure that improved scheduling is possible with both remote and hybrid work modes. “Trying to get five people from across the country to meet in Chicago on a Thursday or a Friday was almost impossible,” he admits, “and now you could probably line that meeting up within a week. You could just find a slot of time for everybody to get on a Zoom call.”

    McKenna acknowledges that alternating between in-person and remote work can be emotionally taxing. Hybrid arrangements can also raise genuine concerns about remote work, such as potential declines in employee loyalty and collaboration. Businesses should avoid creating barriers between in-office and remote workers, and they should ensure that everyone has access to the tools and resources they need to perform their duties.

    A company should be able to succeed with a hybrid work model if proper policies and procedures are in place.

    How Robert McKenna Manages Hybrid Offices

    McKenna discovered what tactics worked and what didn’t as he made the transition to a hybrid work model. His method relies on supplying the necessary work items, establishing healthy boundaries, tracking processes, and building functional workspaces.

    Supplying Necessary Work Items

    Employees must have the tools and supplies they need to do their jobs because they’re going to spend significant portions of their workweeks at home. Do employees have access to the programs and files they’ll need to do their work? Is their internet reliable? Are there any additional items they’ll require to complete their tasks?

    “People needed a good chair. Some people didn’t have laptops. So, we got them a laptop. We’re cloud-based, so people can be anywhere and sign in any time,” asserts McKenna.

    Establishing Healthy Boundaries

    Setting healthy limits can be difficult for those who work from home. One factor in this is that a person’s “office” and their “home” are frequently not separated from one another. This increases the risk of burnout for some employees by tempting them to work longer hours. You should encourage your employees to develop healthy limits; you can set a good example by doing the same yourself, regardless of where you are.

    According to McKenna, as remote work models gain popularity, expectations for nearly continuous contact have increased. “People say, ‘I know you’re on vacation, but we have a virtual conference. Can you do that? You have internet.’” McKenna explains. “And the turnaround time people expect on text messages and emails has dramatically shrunk. People want instantaneous reassurance that you’re available to respond at any time.”

    Over time, poorer productivity and exhaustion can result from these extended workdays and demands for nearly continuous contact. To combat these, you should encourage healthy work habits, such as not always replying to emails right away and turning off the computer at a predetermined time.

    Additionally, if you’re on vacation, let folks know, so they can schedule meetings or other work-related communication without you. These guidelines for vacations should be applied to the entire staff. “You have to avoid the temptation to say ‘yes’ too much during that timeframe,” counsels McKenna.

    Tracking Processes

    You should start by monitoring your company’s business processes if you’re thinking of switching to a hybrid work model. Think carefully about which jobs can conceivably be completed at home versus those that must be done in your company’s offices. Ask if all members of your team have to report to work on the same days.

    McKenna recalls, “I spent two or three weeks looking at the business to determine what needed to be done in person. I realized all we needed was one person in each office to pick up the mail, scan it, and send it off to whoever required it. We also needed the same person or a different person to come back in the afternoon to print, address, and send outgoing mail for that day.”

    McKenna worked with his staff to decide who else would be at the office each day of the week and chose two days for each of his firm’s administrative employees to be there.

    Depending on your company’s processes and needs, a hybrid work model might operate differently. While some hybrid work arrangements might mandate that employees report to work three days per week (on the same days or on a staggered schedule), others might permit flexible scheduling as long as everyone is present for meetings and special events. To determine what’s best for your business, you should create an inventory of all the work functions at your organization.

    Building Functional Workspaces

    You need to create a functional workspace at home if you want hybrid work models to be successful. You should offer employees the necessary tools and resources and then inquire further to see if anything else is needed for their remote workspaces.

    You should pick a spot in your house where you can be productive yourself. Choose a place where you can think clearly and concentrate. McKenna advises against doing this in a bedroom. A separate workspace-like area is necessary to increase productivity and motivation.

    Developing a work-from-home regimen that puts you in the right state of mind for working will also be beneficial. McKenna advises, “Whatever you do on the weekend, don’t do [that] during the week while you’re working. Create a separate routine, even if it’s putting on a different kind of shirt or just showering and shaving when you wake up.”

    How Hybrid Office Setups Can Function Successfully

    Your company’s transition to a hybrid office model will probably take some time, but if you follow the guidelines McKenna has laid down, you should be able to build a strong foundation for your company. The secret is to take your time, look carefully at your business’s processes and policies, and decide which type of hybrid work model will work best for your team. Establish procedures, strategies, and objectives, so your staff employees are aware of all expectations.

    Establish an efficient home workspace for yourself, and make sure your team has all it needs to succeed. Make sure your team establishes healthy boundaries to prevent employee burnout. And maintain similar boundaries for yourself; whenever it’s feasible, serve as an example to follow. You should be able to develop a hybrid work arrangement that’s effective, balanced, and productive for both you and your staff once your foundation is in place.

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  • The Startup Magazine Pros and Cons of the Offshore Company for Software Development

    The Startup Magazine Pros and Cons of the Offshore Company for Software Development

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    Almost all businesses today, regardless of size or industry, are using offshore development to build and enhance their own software. The most significant advantages of offshore development, such as lower costs, access to a larger pool of qualified development companies, resource management, flexibility, etc., will be discussed next.

    The practice of moving portions of a company’s activities to a third-party entity in another nation is known as “offshoring.” You can learn how to find offshore software development company on the Turnkey Labs website. The company provides first-class software development teams around your needs. This may be done for a variety of reasons, such as the necessity to access additional talent or the need to cut expenditures. For global firms looking for quick expansion and development, offshoring is another motivating factor.

    Offshore Development Benefits

    The following are the key advantages of exporting software design to an offshore software company.

    Worldwide talent hiring

    The skill set is theoretically considerably broader because the world is much broader than the nation in which your business is based. You will have access to significantly more talent with a wider variety of abilities and more outstanding portfolio cases if you outsource software design to offshore suppliers since the talent pool is greater.

    Lower cost of development

    The huge cost reductions are the second main advantage of selecting an offshore software development business. Hiring an expert from, say, Ukraine or another offshore development center may significantly lower the cost of paying programmers’ salaries, as well as totally eliminate the expense of equipment purchases and utility costs, whether the customer is based in the US, EU, UK, or Australia.

    Issues with Offshore Development

    Offshore development has many benefits, but there are also drawbacks to take into account when deciding on the best offshore outsourcing plan for your company. Here is a list of these drawbacks and suggestions about how to prevent or lessen them.

    The difference in time zones

    When you consider working with an offshore firm in another nation, the time zone difference is likely one of your first concerns. When you collaborate with a partner who is located on the other side of the world, your group will work while you sleep and vice versa. This may lead to severe communication issues. For instance, you might not be able to reach your team before the outset of their working day if you need any explanations or just want to get in touch. This might cause serious delays in the project.

    Difficulties with quality control

    It requires a lot of work and commitment to manage offshore developers’ performance at each step of the development of software communication since they are geographically and linguistically separated from you and are working at different times. Additionally, unfavorable working conditions that are beyond your control and a lack of contemporary instruments for development quality control might make this issue worse.

    While cost savings is undoubtedly the biggest advantage of working with an offshore property development business, you will discover that there are other advantages as well as you go deeper into them. Since this is what determines the quality of the finished software product most directly, experience, communication abilities, and specialty all play crucial roles.

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