Friday, December 31, 2021

WHY NEXT GENERATION OF ROBOTS MAY BE BASED ON ANTS AND FISH

In the future, the most useful robots will work together as hives.

That's according to Radhika Nagpal, co-founder of Root Robotics and professor of computer science at Harvard University. Nagpal spoke at the Conference on Neural Information Processing Systems (NeurIPS) recently about the ways engineers are drawing from nature to create the next generation of robots.

Nagpal studies creatures that demonstrate collective intelligence--a body of knowledge possessed by a group that it uses to solve problems. Army ants are a good example: Millions of them work together to complete tasks, such as building nests, without any leader in charge. The insects will even create bridges and ladders out of their own bodies to allow fellow ants to traverse gaps and rough terrain. Other organisms, from cells to flocks of birds to schools of fish also exhibit collective intelligence as they move in sync with one another. 

"As engineers," says Nagpal, "the obvious question then becomes: Can we make our own?"

The answer, as Nagpal has proven, is yes. Her team at Root Robotics builds robot collectives that use complex algorithms to emulate the functions of swarms of insects and other creatures found in nature. One, known as the Kilobot system, is believed to be the first-ever hive of more than 1,000 collaborative robots. The tiny bots can perform tasks, such as transporting items, without the need for human intervention. 

Among the company's other robot swarms is one modeled after termites that can build three-dimensional shapes, as well as an army ant-inspired swarm that can assemble themselves into small structures like ramps and bridges. Smaller bots will be less expensive, more customizable to the user's needs, and able to access spaces that larger bots couldn't.

"Any application you can think of for robotics in the future will involve many robots working together," says Nagpal. That might include bots used for construction, agriculture, environmental monitoring, or search-and-rescue missions. Even self-driving cars will amount to robot collectives, as millions of them will navigate roads as well as each other. 

So if your business builds robots or develops artificial intelligence, it might be in your best interest to look to nature for inspiration. 

"There are so many ways we can imagine robots helping us in the future," says Nagpal. "There's all this dynamic and complex collective intelligence that we still don't understand that we can begin to probe using robotics."

Wednesday, December 29, 2021

THE 3 BIGGEST BUSINESS TIME-WASTERS YOU CAN AVOID

E.W. Howe, a legendary newspaper and magazine editor from back in the day, once said something that ought to resonate with small business owners everywhere.

"Half the time [people] think they are talking business," he averred, "they are wasting time."

Why is that? Why is it so easy to get sucked into workday activities that lead nowhere and distract us from the responsibilities that matter most to our customers, employees, and investors?

There are no easy answers, but I've given this a lot of thought and identified at least three time-wasting tendencies to avoid at all costs.

1. Accepting pointless outside meetings.

Nod if ever you've received a message through email, LinkedIn, Facebook, etc., that was a variation on one of these themes:

A) "I notice we have quite a few contacts in common and would love to get together to know you better."

B) "I'm impressed by your success and am wondering if I can sit down with you sometime and pick your brain."

What does A) even signify? The existence of the Internet means you can practically take random sets of people from opposite sides of the earth now and discover connections through one social media tool or another.

As for B), it's a siren song on those days when you're not feeling particularly like a winner, and success seems far in the distance. Suddenly, you get a glorious compliment from someone who claims to admire you--who hopes to sit at your feet and greedily lap up your wisdom.

Don't be a sucker for either of these approaches. Learn to recognize them as B.S. and ignore them. Ninety-nine times out of 100, the senders of these invites are just trying to sell you something.

2. Refusing to hire an assistant, even when it's justified.

When I was a kid, we refused to pay for services we could do ourselves. If a piece of farm machinery failed, we learned to fix it. If the car needed an oil change, we got our hands dirty.

It was an admirable, tough-minded philosophy. But then I opened my first business. Suddenly, I had countless duties that demanded my attention if I just wanted to keep the thing going.  

I still remember the day when I guiltily drove my truck to the local Walmart to pay someone $10 for an oil change. "You shouldn't be caving in," I thought. "A penny saved is a penny earned."

Then it dawned on me--a mind-blowing truth. In terms of the health of my company, the few precious hours I'd save for work were far more valuable than the cash I'd fork over to the mechanic.

Too many business owners see hiring an assistant as an unnecessary reduction in their own compensation. It's easy to draw a direct line to what you'll lose--paying money for outside help equals less money for you.

It's much harder to see that expanding your capacities and freedom will ultimately translate into expanded profits. It can be a scary step to take, but one you'll soon wonder how you ever survived without.

3. Failing to plan ahead.

This one just seems obvious, right? If you're failing to plan, you're planning to fail. In this context, however, I'm not talking about high-level strategy or crafting a foolproof business plan.

I'm talking about the kind of planning that can be done at night while you're in bed with your favorite show on in the background. The kind of planning that offers a bird's eye view of the following day.

Clearing your inbox at night is the perfect way to begin. It saves you from the chaos of correspondence in the morning and allows you to separate what's urgent from what's important.

It's a crucial distinction. Let's say you have two talented employees who are at each other's throats over a misunderstanding. That's an urgent matter; you want to resolve the dispute ASAP before it spins out of control, but it's something you can delegate to a trusted lieutenant.

You're also in the middle of a fundraiser and in dire need of a conversation with a trusted mentor who has helped guide you over rough terrain in the past. This is important. Its consequences are potentially far-reaching, but it's something that shouldn't be rushed and that you have to take care of personally.

Categorizing your emails like this helps save time because you can get everything lined up for the next day. You tackle what's urgent first so that you can devote your energy to what's important.

There are plenty of time wasters in business. Looking for financing, for example, consumes more than 26 hours for small business owners. If Howe is right about the ease with which we can fool ourselves about priorities, it's imperative that we slash the unimportant and non-urgent starting now. 

Tuesday, December 28, 2021

VIRTUAL SELLING IN THE WORLD OF COVID

COVID has caused a ripple effect of changes throughout the world, leaving little to remain unaffected. In the business world, the path of change has been brutal on salespeople and it is important to react appropriately. This means becoming a lot better at virtual selling.

This entire situation is quite unique, which means it calls for an innovative response. Adapting to this rapidly changing business landscape with a lot of hesitation could really set you back. It is truly the time to embrace change. 

Virtual selling is one thing, but virtual selling in extremely unprecedented times has especially unique considerations and challenges. Take these tips along with you as you navigate the virtual world of sales during COVID:

Expect the Unexpected

This is one of those situations where relying on what you know will probably not be very beneficial. It is not the time to necessarily throw out all of the old rules, but you should reevaluate old techniques and audit their effectiveness for the current sales climate. Some sales skills are much tougher to execute. 

When selling to companies, expect the unexpected. Don’t be surprised if virtual communication leads to significant changes in the overall selling process. Don’t assume that your client’s company will flourish in Spring-like it has in years past. Everyone is adapting, so “business as usual” might not hold true as we push through 2021.

Check Your Surroundings

An experienced driver must always be intensely aware of their surroundings. Likewise, salespeople must always be dependable as an expert for their clients and their clients’ industry. Even if a salesperson has been working with a buyer for an extensive period of time, and has subsequently become very knowledgeable about them, they must be committed to staying informed. This is WAY more important when selling virtually.

This means salespeople need to stay updated with how the pandemic has specifically impacted their clients’ businesses. Some companies have been forced to abruptly lay people off, while other companies are experiencing tremendous growth like never before. 

This is an important reminder to hone your research skills to be sure you truly know your clients. Maintaining this thirst for updated information will allow you to adjust your virtual selling strategies accordingly. 

Be an Ally 

Many companies are experiencing shifts in terms of actual business models. For example, retailers are finding ways to help clients shop virtually instead of in-store. Companies are learning how to create a version of their product or an entirely new product that will be in demand in the current climate.

As a salesperson, you should use this as an opportunity to emphasize your role as a support system to your clients. This could be a test of your durability as an adaptable salesperson. Use this time to prove your sales skills and to convince the buyer that your product/service is valuable during major changes and beyond the current situation.

Virtual sales are here to stay. Many of our clients have found this niche fits for them and their employees working from home. It will remain an essential way to conduct business for many years to come. Sell in a way that shows how your product or service will be useful now and in any of your prospect’s new endeavors. Succeeding as a salesperson through trying times will help you build an overall stronger connection with the buyer.


- John Asher, author of The Future of Sales

Friday, December 24, 2021

OFFICES IN 2022: HERE'S WHAT THE 'NEW NORMAL' MAY LOOK LIKE

The disruptions of the past two years have turned out to be longer-lasting than anticipated. We haven't gone back to the "old normal" of commuting to work. Conferences are still remote. Supply-chain problems persist. The health care system in many places is under terrific strain. In 2021, new disruptions like the Great Resignation caused even more uncertainty.

In 2022, successful business leaders will need to address the continued disruption from the last couple of years and will do so through four human-centric strategies. All of them elevate the importance of individuals. All of them improve the employee-employer relationship. All of them test the degree to which leaders embrace innovative management styles. All of them will impact the company's ability to retain and recruit top talent. And all of them have an impact on a business's bottom line.

The old normal is gone for good; these trends will shape the new normal:

1. The Great Resignation is a wake-up call for culture.

Even if the "voluntary quits" trend back to average, the reasons people are quitting in unheard-of numbers won't change. Employees learned to improvise and innovate in the world of remote work-- which means they lost their fear of change.

One big driver of resignations has been people questioning their lifelong habit of putting work first. In the current hiring frenzy, new employees are just checking out company culture; they aren't yet loyal. And even long-term employees are hearing from recruiters on a regular basis (yet even recruiters aren't immune to the impact of the Great Resignation).

Building loyalty requires a positive culture. For example, managers will have to evolve their view of feedback from once-a-year performance reviews to regular conversations with employees and teams.

Psychologist John Gottman described a "magic ratio" that distinguishes the behavior of happy relationships: five positive interactions to every negative interaction. Traditional managers habitually focus on what's going wrong, alienating employees.

The solution? Train managers to act as continuous coaches. Measure their effectiveness by the practical and psychological effects of feedback: Does the person receiving feedback feel they learned something? Do they feel capable of improving their performance? Do they trust their manager and feel trusted? Are they engaged and hitting their goals?

Peer feedback builds community and a sense of belonging, which is why a human workplace includes a system for people to recognize each other and exchange ideas broadly, whether that's face-to-face or through feedback technologies.

2. The future of work is hybrid, agile, and interdependent.

The future of work arrived in March 2020. People who could work from home did-- because they had to, and now they are saying, "there's no going back."

A PwC survey found that 65 percent of workers looking for a job as of August 2021 cited more workplace flexibility as a top reason why. Employees are ready for this, and the workforce depends on it. My company's recent surveys show that people not only want flexibility, above all, they need it. Working parents are especially burned out, exhibited by the 10 million mothers who were not actively working in January 2021. Gen Z-- the generation primed to take over the workplace in the coming years-- even believes that flexibility and adaptability have been the most critical characteristics contributing to workplace success. Companies can help them be engaged and productive by changing routines to give them more flexibility.

This attitude shift is happening just as the Fourth Industrial Revolution is making work agile (fast-moving and constantly adapting) and interdependent (once-separated disciplines merging). Employees are most effective when they work in fast-moving, flexible teams, but that requires a different mindset from steady, siloed specialties of the typical organization.

We are all designers of our workday now, and the key to designing flexible work is separating what needs to be done together from individual work. Companies must dismantle their outdated routines and redesign them to prioritize flexibility, agility and collaboration.

For executives, there's a catch: many middle managers are uncomfortable with the out-of-sight reality of people working from home. They will have to let go of some control and again, focus on their coaching job and continue to incorporate empathy into their leadership style.

Progress can and will be measured: In 2022, technologies that capture and analyze the magic of collaboration, feedback, flexibility and process innovations will be widely adopted, as culture leaders move from gut feel to predictable outcomes.

3. Diversity and Inclusion will grow as differentiators for recruiting and retention.

Job seekers consider diversity a requirement when they consider employers. This is especially true for young, tech-savvy talent. Beyond fairness, diversity of thought and experience makes an organization more innovative and better at creative problem-solving. So at this moment, holding on to your progress in DEI recruiting and inclusion, and advancing your efforts, is the path to acquiring and holding talent. And window-dressing won't do; you must make measurable progress and communicate it.

The challenge of inclusion is, how do you create a unified culture and mission while enabling widely diverse points of view to thrive? A key concept for 2022 will be respect. An active culture of respect for everyone, not despite differences but because of them, is vital to engagement, loyalty, trust, innovation, and smoothly operating teams.

Right now, showing respect is counter-cultural to all the polarization and rancor we see in society and media. When leaders say, "I see you, I honor you for who you are and I value our differences," they invite employees to make work a caring, civil sanctuary. I've said before that "work is the new community" and after the trials of 2020-2021 this has never been more important.

4. The slow return of women to the workforce is going to be a big challenge in 2022.

Data show that women lost employment disproportionately in 2020; they are still burdened with more caregiving responsibilities than men, and they report higher levels of pandemic burnout. Over the past year, a lot of companies even dropped their family coverage. Furthermore, school and childcare closings are easing only slowly, keeping many women from rejoining the full-time workforce.

The long-term consequences of this are bad for women, families, and companies. Leaving the workforce tends to lower lifelong advancement. Lost family income is hard to recover. Loss of women employees means a loss of empathy in leadership, slower DE&I progress, and less resilience in the next crisis.

Employers will have to recruit women with a culture of flexibility in scheduling and career paths. They'll also have to provide tangible support for returning women e.g. not penalizing people in flexible arrangements when it comes to promotion and high-profile projects. Partnerships with childcare organizations (hugely understaffed during the pandemic) are a practical action; advocacy for working mothers--and fathers as well-- will grow engagement and trust in the organization's larger mission.

Finally, the best leaders will inspire employees by recognizing that there's no going back to the way things were. Invite your workforce to share their sadness and celebrate their resilience. Co-create a new culture of humanity, respect, growth, and adventure, inventing a better workplace.


BY ERIC MOSLEY, CO-FOUNDER AND CEO, WORKHUMAN@ERICMOSLEY

Thursday, December 23, 2021

IN THE BRICK AND MORTAL BUSINESS WORLD, HOW DO YOU SUCCEED?

Although there is a growing tendency to do business online, brick-and-mortar stores are very much alive. In fact, many bloggers, content creators, and marketers get their start online and make the move to off-line, as there are just way too many opportunities to not take advantage of.

For the most part, such business models are especially prominent in industries where customers have to try a product in person. A good example of this would be products you’d buy on Amazon, but only after you’ve bought them offline and physically used them previously.

Another great benefit of brick-and-mortar shopping is that employees can help a buyer make the right decision. And should someone have an online marketing background, there are also plenty of exciting ways to upsell, follow-up and remarket to those users again — even if they are walking into your local store for the first time.

However, it’s also important to note that a lot of people prefer the digital model due to its economic feasibility. Running an eCommerce store saves you money on rent and employee salaries. People who have brick-and-mortar retail stores might encounter other operational issues.

Maintaining a profitable brick-and-mortar business is harder than ever. But that doesn’t mean it’s impossible. Here are our 5 tips that will help you succeed in the brick-and-mortar business world. 

Prioritize Friendly Customer-First Service

According to data, 66% of buyers are willing to overpay a product if it comes with good customer service. Brick-and-mortar businesses have a major advantage of being able to create a meaningful connection with customers. Unfortunately, a lot of companies do not take advantage of this. 

When customers are properly serviced, they are more likely to find the right product. Good salespeople can improve potential clients’ experience and persuade them to buy from the company. Furthermore, companies with qualified staff are more likely to retain buyers.

In order to mold good salespeople, you will have to focus on recruitment and training. The process of educating staff will take time and money, but it will pay off soon enough.

Sell (And Give Away) Branded & Promotional Products

Word-of-mouth marketing remains the most powerful promotional method. This is why branding is so important. Not only should a customer buy from you, but they should also help spread the company’s message. 

By giving away and selling branded items, you can increase revenues and improve market positioning. Whenever a client sees your personalized pens and pencils, stickers, or other branded items, they will think of your company. Additionally, if you’re manufacturing objects of the same type, you can showcase the product quality.

And as seen on their @PenFactory Twitter profile, this brand has also found a fun and exciting way to market its products through the use of images, animation, and video on social media.

While some entrepreneurs perceive this method as unnecessary, it is probably one of the better ways to create loyalty and trust in consumers. Promotional items help with recognition and reduce future marketing expenses. 

Combine Digital and Traditional Approach

Although you don’t need to rely on a website to make profits, you can still benefit from digital solutions. One of the best ways to do so is by stimulating website visitors to check your retail store. This is a great way to increase conversion, especially among reluctant buyers. 

Even small brick-and-mortar stores and services providers can benefit from Google. Ranking your local store in search engines will make it easier for potential customers to find you. Some of them might not be aware of your existence. By submitting your physical address to various online registers, they will be able to find you on the map.

Of course, everyone can benefit from social media presence. One of the biggest issues with companies is that people cannot relate to them. So, by showcasing your persona on Facebook and Instagram, you can create a nice first impression about your brand. 

Create a Rewards Program

In a way, rewards programs are a type of gamification. Although people usually focus on savings and free stuff, most of them will have fun during the process. Creating a rewards program is crucial for customer targeting. If you do it the right way, you can attract an ideal customer persona to your brand. At the same time, you can dissuade any bad leads. 

Rewards programs are great for fostering loyalty and increasing customer retention, but also for increasing interaction with the brand. While some businesses see it as a short-term revenue growth method, it provides the best results in the long run. 

Having an Active Community Presence

Nowadays, companies are scrutinized more than ever. Consumers expect them to become an integral part of their local communities. Commercial entities should support the residents both financially and by creating social events. In fact, some of the manifestations can even be held at their place of business.

In a way, community presence is more than just brand building. It is a necessary activity that would allow you to compete in the market. People are reluctant to purchase from companies oblivious to social issues, which we’ve seen in the last few years. The great thing about this concept is that it increases retention and builds long-term loyalty. Although you can have a successful business regardless, the local activism will help you scale faster.

And even better, there is also a world of retail blogs out there that can help connect customers to new businesses in the masses. For example, did you know there is a whole community out there focused on Walmart blogs, and they aren’t just about those “People of Walmart” photos you’ve seen and heard about!

The difference between starting a business and running a successful one is putting in the time and effort to seek out these secret communities and blog networks.

Getting the Most Out of Your Business Efforts

No matter if you are a blogger, online marketer or even a brick-and-mortar business that focuses on local marketing and physical sales, at the end of the day you need to be seeing a positive ROI for the time, money, and efforts you put in.

For this to happen, you need to have the best marketing and business tools in place to help you along the way. It’s also a good idea to try and surround yourself with other business owners and experts that you can bounce ideas off and share feedback with as well.

The good news is, the use of the internet, it makes the process of connecting with others so much easier and more affordable than ever before — no matter what business market you are in.

And never forget about the massive amount of blogging resources and reference articles that are already out there. Many of which have probably covered in great detail any questions or concerns you might already have.

With all of that being said, be sure to read through each of the recommended tips above and start implementing them into your business today!


Monday, December 20, 2021

ARE BUYERS TRUSTWORTHY AND CREDIBLE?

Action selling teaches us that all buyers make five decisions about a salesperson, their offerings, and the company they represent—in the following order:

  1. They have to buy the salesperson!
  2. They have to buy that your organization is reputable 
  3. They have to buy your offerings as able to help with their challenges
  4. They have to buy your price
  5. They have to decide when to buy

If the buyer does not “buy” the salesperson, they will not continue the journey though the other four steps. We are all social beings. All of us thrive on interactions with other people, some more than others. So, this becomes the most important step.

Building trust with a buyer is important and helps you move through step one. To make yourself appear trustworthy in the post-pandemic era, you have to be efficient in new areas to gain the trust of a buyer. Salespeople must be totally proficient in the use of the virtual conferencing platforms (e.g., Zoom) and they must know how to navigate the virtual landscape.

Try this: Before your next meeting with a buyer, confirm you can perform the following functions.

  • Set up a meeting 
  • Get the time zone right
  • Be able to manipulate the system 
  • Be familiar with the technology  
  • Know how to display a document like a proposal 
  • Know how to modify the proposal in real time 
  • Have the ability to have the buyer sign the proposal (if appropriate in real time electronically)