Category: Insights

DevelopmentInsights

How Increasing Design Tolerance Can Cut Costs

Product development and design are essential for ensuring that you can actually produce and sell the products you make. Oftentimes, products are designed and produced in a way to maximize quality. In order to achieve that, tight tolerances are focused on during the development process. What exactly are tight tolerances in product development? Tolerances are variables in the design, usually concerning the dimensions of a specific product.

In layman’s terms, it’s a plus or minus here and there that are allowed in product design. Tolerances influence the overall design of the products, as well as its manufacturing and quality control. In some cases, tight tolerances are absolutely necessary to ensure that the product can perform appropriately. However, strictly leveraging tight tolerances isn’t mandatory in every case. What’s more, they will only increase the production costs. Therefore, here’s how increasing design tolerance can actually cut costs.

Determine the functionality of a product

The functionality of a product determines how it will be designed and produced. In some cases, tolerances of even a single decimal can mean the difference between a functioning product and a failed one. That is only the case if product functionality depends on tight tolerances. However, materials used in the manufacturing process also play a role in determining acceptable tolerances in product design. In other words, not every part of the product needs tight tolerances, but in most cases, the entire product is based on strict requirements.

For instance, a product with a certain number of components requires a tolerance of ±0.001 because there’s a specific way component must fit together. But, a separate part is also automatically specified using the same tolerances, even if the part does not interact with the others or may not need the same tolerances. That’s why it’s important to determine the functionality of the product and which component – if any – requires a tight tolerance to function.

Consult with a manufacturer

Creating a product design eventually comes down to tolerances that are numbers on paper. You may think that those tolerances are absolutely necessary, even if that’s not the case. Tolerances are influenced by the materials used in production, how they’re made during manufacturing and the sensitivity of product features to variations in design. That’s why it’s important to have an experienced manufacturer on board that can help you determine if there’s room to increase the design tolerance or not.

For example, if you’re developing a design for electrical components, you should consult with an electronics manufacturer. That way, a manufacturer can go over your design and help you determine the acceptable increases intolerances to help you cut costs. Electronics are produced by the IPC (Association Connecting Electronics Industries) standards which allow certain tolerances in product design. Your manufacturer will know how to best implement those tolerances, without compromising the product’s functionality and quality.

Understand the costs of tight tolerances

As mentioned before, product developers and designers focus on tight tolerances in order to ensure product quality. The reality is that tight tolerances do not always influence quality, but they are always expensive to implement. You need to consider these costs before insisting on tight tolerances. For example, tight tolerances require more precise tools and higher grade materials, which cost a lot more. The tighter the tolerance is, the more it will cost you. In addition, tight tolerances require more processing, which increases the costs of the machinery used and labour.

Moreover, you need to pay for a close inspection to determine whether the tolerances are within the acceptable range. What’s more, if you cannot implement tight tolerances on your own, you may need to outsource the process, which will cost you more. In the end, you end up paying for precision that may not be required. That’s why it’s important to actually determine if tight tolerances are mandatory for your products. If you don’t need such tolerances, you should take the opportunity to implement more appropriate variables and greatly reduce the costs of product development.

Don’t relax tolerances too much

In an effort to cut costs, increasing the design tolerance is quite beneficial. However, relaxing the tolerances too much involves certain risks. For example, the product components may not fit well together if tolerances are too extreme. In addition, your customers may disapprove of increased tolerances, if you haven’t consulted with them beforehand. Also, you may need to repeat the manufacturing process and redesign your products if you’re not careful with tolerances.

That will only skyrocket your costs. Instead of focusing on tight tolerances or relaxing them too much, you should focus on implementing quality assurance and tolerance analysis. That way, you’ll be able to determine exactly which variables are acceptable for your product design. In addition, you’ll know exactly where to apply strict tolerances and, of course, how much you can increase them to cut costs.

Product design is important for the manufacturing and quality of the products. However, ensuring product quality doesn’t always rely on implementing strictly tight tolerances. Tight tolerances are only required when there are specific needs and functionality requirements. Other than that, you can consider relaxing the product design tolerance and save yourself a lot of money during the development process.

About the author:

My name is Raul, editor in chief at Technivorz blog. I have a lot to say about innovations in all aspects of digital technology and online marketing. You can reach me out on Twitter.

Insights

The IRS’ View on Bitcoin Roth IRA’s

Bitcoin was developed in 2009, which means it is not even 10 years old yet. The result of this is that financial experts are not making any statements with certainty on it yet because it is impossible to draw real conclusions in such a short period of time. This country is, in fact, one of the only ones in the world that has issued formal guidelines on cryptocurrencies as an investment class. Knowing the IRS’ view on bitcoin roth IRA’s is very important if you were hoping to invest in one.

How the IRS Views Bitcoin Roth IRA’s

The IRS made an official statement in March 2014 outlining that dates are cryptocurrencies as a type of commodity when calculating taxation. This means it processes Bitcoin in the same way as stocks and bonds. The IRS declared that cryptocurrencies are a type of property, which means that investment in them is possible but only when overseen by a custodian so that regulations are complied with.

Historic Lee, custodians would only accept mainstream assets in an IRA. This includes certificates of deposits, mutual funds, bonds, and stocks. Hence, if you do wish to invest in a cryptocurrency, you will have to choose a self-directed option. You do have the option of choosing between a traditional IRA, whereby you pay taxes on the eventual withdrawals, or a Roth IRA, where buy you pay taxes on the initial deposits.

A bitcoin Roth IRA is fully self-directed. This means you decide when to buy, sell, and hold bitcoins. You can also purchase dedicated cryptocurrency fund shares. If you want to invest directly in cryptocurrency, you will effectively become a Forex Trader with the difference being that your currency is not a mainstream one. If, on the other hand, you decide to invest in fund shares, you will delegate forex knowledge to that fund instead. Hence, you need to weigh up whether you have more confidence in your own skills or whether you have more confidence in the skills of a shared fund. Again, because bitcoin is so new, it can be quite difficult to determine whether or not someone truly does have the required experience to properly invest in this currency, but then the same would go for you personally.

Whatever decisions you make, you will have to open a bitcoin wallet. This is not a physical wallet but rather an application on which your digital signature, also known as private keys, are stored. Those keys are required in order for you to move coins between others on the public ledger, which is the blockchain. Those private keys are incredibly valuable because of the anonymity of the blockchain. It is impossible to determine who is accessing the chain so if you share your private key with someone else, for instance through loss or theft, they will be able to remove all your bitcoin and you will never be able to get them back. Do be careful with your private key, therefore!

DevelopmentInsights

How to Improve Your Customer Help

The customers’ journey is an important thing to keep track of in today’s market. Customers who are happy with their journey with your brand are more loyal – and more likely to make future purchases than those who aren’t. You also have the ability to build better relationships with the customers through a positive customer experience.

Naturally, the customers’ journey doesn’t stop when they make a purchase. Offering good customer support and aftersales services is also an important thing to do. To improve customer support, here are some of the strategies you can implement right away.

Keep Track of Support Requests

One of the worst things you can do when providing customer support is not keeping track of customers’ requests properly. This usually leads to the customers having to explain their issues again, which is extremely annoying for them.

A simple IT solution is all you need to manage customer requests better. A help desk software is a great foundation and will lead to better – and more efficient – customer support. The help desk software then acts as a way to manage your customer support efforts.

The IT industry has used help desk software to provide invaluable services to their customers. Today, other industries are using the same approach to deliver the same level of user experience across their customer base.

Service-Minded Employees

The next challenge to tackle is employee development. You can’t expect to offer good customer support without employees who are serious about offering the best customer service. Training and development programs are how you reconfigure employees to have a more service-oriented mindset.

You can start by strengthening the customer service skills of key employees. The most important skills to develop are empathy and patience, good product knowledge, the ability to mitigate customers’ complaints intelligently, and good worth ethic in general.

These skills can be further supported by the good understanding of customer touchpoints and how every part of the customers’ experience can be improved. Even bad customer experience is an opportunity; through good customer service, those disappointed customers can become your most loyal ambassadors.

Focus on Interactions

The incredible solutions you deliver are important, but how you deliver them is even more important. You want to make sure that the good aftersales experience you provide is the experience the customers see and feel too.

The way to do this is by ensuring customer support is delivered in a timely and pleasant manner. You can establish policies to allow the customer support executives or officers to do just that while staying within the boundaries of SOPs.

The way executives interact with the customers’ matters too. Offer a more personalized approach, listen to what the customers really want, and don’t be afraid to admit mistakes. Admitting your mistake even before customers launch their complaints is a powerful way to ensure that the customers always have a great customer experience.

Combined, these strategies will substantially improve customer support and the overall customer journey. Add sincerity to the mix, and you have the perfect recipe for offering stunning aftersales service that keeps customers coming back for more.

DevelopmentInsights

Why You Should Invest in a Digital Kanban Board

Digital Kanban boards are taking the tech world by storm as the software helps teams to prioritise tasks and improve efficiency in the workplace. Kanban might have started off as a physical board, but the digital version of the software is becoming very popular and it is something that you should consider investing in if you want to improve how your team works. In this article, we are going to take you through some of the reasons why you should invest in a digital Kanban board and the benefits that this piece of tech can bring to you. Keep reading if you’d like to hear more about this.

What Is Kanban Software?

Kanban software comes in many forms with many different companies giving their own take on this sort of organisational structure. With Kanban software, you input tasks onto the board when they first are confirmed. From here, tasks move across the board depending on their level of completion. This means that tasks can be prioritised, and staff efficiency levels can be monitored. Make sure to learn more about Kanban software before you invest in this piece of technology to ensure that it is right for you. You can learn all you need to know by reading Kanbanize’s guide “Kanban Software: Explore the Opportunities“.

Easy to Use

With an online Kanban board, you can create it to work for the type of project that you are completing. Every team is different and so the fact that this type of system is so easy to use makes a huge difference. When you first download the software, you can choose the type of layout that you want, and you’ll find it really easy to add new cards and move them along the board when you need to. This type of technology is a lot easier to use than a physical board that will require you have to write on cards or print them out. With an online Kanban board, you can edit the cards in a matter of seconds.

Great for Teamwork

If you have a large team then you will love this benefit of using an online Kanban board. When you put the different tasks on the board, your whole team can see it and they can grab a task and get it done. You don’t need to worry about things slipping through the cracks as Kanban doesn’t allow for this. If you invest in this software, you won’t need to inform your team of what they need to do and when it needs to be done by because they’ll already know. You’ll save yourself time on having meetings and sending out emails and you’ll be able to get your work done more quickly.

Remote Workers

One of the best things about Kanban software is that it can be used by any member of the team no matter where they are. As long as they have access to the software on their computer or their mobile phone app, they can view the board online and get started. This works really well if you have remote workers or you don’t have the main office. You could also consider getting rid of your office and having your staff work from home. They’ll be able to stay connected using the Kanban board online and you can still get your work done effectively.

Improve Efficiency

If your team struggle with getting things done on time, you’ll find that having an online Kanban board can totally change the way they work. The system works well to improve efficiency and you’ll be able to identify the weak points in the company. Perhaps someone is not getting as much work done as you’d like, maybe you could use this information to try them on another task or analyse what they did well. Making use of a Kanban board can really help you to understand how your team works and you’ll be able to get your projects done on time.

Reasonably Priced

When it comes to Kanban software, you don’t even need to fork out a lot of money to get help with your business. This piece of tech is reasonably priced and if you find a good one, you might even get a free trial to see if you could really benefit from this type of software. Don’t be afraid to have a look around at what is available online in order to really improve how your businesses flow.

Final Thoughts

If you are thinking about investing in Kanban software, then you’ll find that it is actually a really good idea. There are a lot of benefits and you will see your business start to shine as you improve the way in which your team works. The systems are easy to use, and you’ll get to grips with them reasonably fast so make sure to try it now.

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A beginner’s guide to crypto currency wallets

If you’re just getting started with cryptocurrencies you’ll probably agree that wallets can be a bit of a pain. There is often a relatively big learning curve that comes with effectively trading, sending & receiving and actually using crypto – all of which need a wallet to do so.

In this post, I’ll quickly dive into some of the key elements of a crypto wallet which will help beginners get started.

Hopefully, in the future, and with new technologies being developed, wallets and storing of crypto funds will become very simple.

We definitely need crypto to be at the lowest barrier to entry as possible in order to spur mass adoption. However, for now, you should sit back, take a few notes and get ready to learn a few things.

What is a cryptocurrency wallet?

In its very basic form, a wallet represents a cryptocurrency investor’s bank account. It’s program that stores private and public keys and helps the user interact with blockchain technology in order to use cryptocurrency. Your cryptocurrency isn’t really stored on your wallet but instead lives on the blockchain. Your wallet gives you access to it.

Different types of wallets

Seeing a wallet as a piece of software will help you understand the different types better. There are many different types of wallets but as a beginner, you’ll only need to understand the following:

Desktop wallets: A popular desktop wallet example is Exodus which is able to host a range of ERC20 (Ethereum blockchain) tokens and many of the biggest names such as Bitcoin, Litecoin, EOS etc.

Mobile wallets: Mobile wallets come in the shape of a mobile application. Using a mobile wallet means that your crypto is always with you, but it’s a little less user-friendly compared to desktop wallets. If you’d like to install a mobile wallet, give Eidoo a try.

Online wallets: When you register on a cryptocurrency exchange, that exchange creates a wallet for each of the tokens that you trade. It is possible to store all your crypto on online or exchange wallets, but it always comes with some risk as hackers love going after crypto exchanges. Some of the biggest crypto hacks include the $460 million Mt Gox hack of 2014.

Tips for security

Wallet security can a very technical and complicated process. However, there are some basic principals you can follow to keep your crypto safe.

  • Make backups of your private keys on multiple storage devices. Some people even print copies and store them in safety deposit boxes.
  • Never share your private keys with anyone.
  • Watch out for scam or phishing sites that try to steal your information. This is especially important with regards to online or exchange wallets. Always make sure you are on the site you need to be and not a fake copy of it.

Tips for transferring coins between wallets

When it comes to paying for something with cryptocurrency you own, it requires some concentration and a little know-how. Let’s say you want to invest in an ICO and the ICO only accepts Bitcoin as payment for their tokens.

In order to purchase their tokens, you’ll need to own Bitcoin. Next, you’ll want to access your wallet whether it’s desktop, mobile or based online. You’ll need to navigate towards your Bitcoin wallet and send the appropriate investment amount to the ICO’s Bitcoin wallet address.

It needs to be from a Bitcoin address to a Bitcoin address otherwise it won’t work. Follow the same principle for any other cryptocurrency you use.

Never try to type a crypto address, always copy and paste it to avoid making mistakes.

I want to participate in an airdrop, what type of wallet should I use?

It’s best to follow instructions given to each specific airdrop. However, as most ICO projects and airdrops, as discussed on The Crypto Coin Authority Blog, are based on the Ethereum blockchain, you’ll need an ERC20 supported wallet. For this, you can either use Eidoo as mentioned above or MetaMask which is a popular browser-based wallet.

Which wallet should I get started with?

Blockchain technology has raised serious interest among investors, with many publicly traded stocks seeing a price per share growth just as a result of adding “blockchain” to their names. This has led to a surge in volume for cryptocurrency penny stocks that trade as regulated securities. Cryptocurrency wallets are not necessary for trading those public stocks because that industry is more highly regulated with protections for investors. It is, however, highly suggested that you protect your assets with a cryptocurrency wallet if you are investing in cryptocurrencies themselves, due to the heightened risks involved.

It all depends on what cryptocurrencies you plan on investing in. If you plan on getting some of the big names like Bitcoin or Ethereum then a simple mobile or desktop wallet as previously mentioned will work fine.

You’ll need an exchange wallet to trade, but that gets set up when you register for the exchange. Some cryptocurrency has their own wallet that you’ll need to set up in order to own those tokens.

The same principals apply as with most desktop and mobile wallets.

Moving forward

There you have it, very simple and basic advice on cryptocurrency wallets – perfect for a beginner getting started with their first piece of the cryptocurrency market! Keep in mind that this guide is very basic and there is much more to learn.

However, that’s the beauty of cryptocurrency, there is always something new to learn. Now it’s your turn to go out and start a journey of a lifetime!

Insights

6 Ways Micro-Influencers Will Increase Your Sales In 2018

Everyone is talking about it, most brands have tried it, and others remain skeptical. What is it? Influencer Marketing. The current buzzword and latest social media marketing trend is a popular way to grow brand reach, social media following and most – importantly, sales.

What Is Influencer Marketing?

Influencer marketing is a word-of-mouth marketing strategy that involves identifying and engaging with influencers and their followers by sharing content, thoughts, and opinions online about a brand’s products, services, and experiences. As mentioned, many big brands rely on the use of influencers and have taken full advantage of its provided success. Daniel Wellington, Frank Body, Triangl Swimwear, Coachella, … just to name a few who have reaped the benefits.

 

Depending on your brand, your campaign objectives, as well as your budget, that will define what type of influencer you decide to partner with. There are three types of influencers: micro, macro, and celebrity.

How Micro-Influencers Can Increase Sales  

TapInfluence partnered with Nielsen Catalina Solutions in 2016 which revealed that influencer marketing generates 11 times the ROI of traditional digital marketing. So… just exactly how can micro-influencers increase your sales?  Check out our 6 ways that micro-influencers will increase your sales in 2018!

Reach

By selecting the right influencers, you gain access to their niche following base.

Believe it or not, it can be better if your influencer’s audience it relatively small, especially if you have a specialized product offering. You want your influencers to reach audience members who are most likely to participate in the call-to-action and become your customer. By utilizing a micro-influencer campaign, you are able to reach a new set of users who would be interested in your product but might not have otherwise known or shown interest in your brand without being backed by a credible influencer.  

Brand Messaging

Partner with a micro-influencer that resonates with your brand. You will want to find an influencer whose audience isn’t so large that your message will get lost, but also large enough that your message will reach potential qualified leads.

Developing your brand message is crucial for awareness, therefore, you want it to remain consistent even throughout the influencer marketing campaign process. Although you want the brand messaging to remain the same, don’t restrict the influencers access to creative control. They know what their followers best engage and interact via certain language and design, and they too need to remain authentic.  

Trust

Successful influencer marketing depends on trust. Influencers are known to have their followers best interests in mind when posting, which makes them credible and trustworthy. Typically, consumers trust their peers and the recommendations they provide, hence why brand marketers are turning to influencer marketing. This is because micro-influencers remain unbiased as the relationship is based off similar beliefs and values and not-necessarily a paid advertisement, whereas a celebrity-influencer receives compensation for their posts. Trust isn’t only found in the influencers, due to this strategy is also establishes consumer trust for a company.

Loyalty

Influencer marketing allows for brands to build loyalty through influencers themselves. By choosing an influencer who personally reflects the brand’s values, the organization can leverage that influencer to increase customer loyalty.  

Trackable Sales

Tracking sales can be difficult to begin with, and adding in an influencer marketing campaign just makes the process even more complicated. This is because the sales cycle can extend beyond just the campaign, making continual tracking essential for measurement and results purposes. There are a few ways to track influencer marketing-powered sales via UTM parameters such as comment to buy, tracking pixels, x-hour window, retargeting, promo codes.

Engagement

Research conducted by PWC shows that revenue growth is tied to customer engagement. With micro-influencers, you are guaranteed to have higher engagement. Another study by HelloSociety revealed that micro-influencers are able to generate 60% higher engagement than other traditional means. Due to the strong relationship and sense of community established between the influencer and their followers, they are more likely to interact with posts. Engagement is created through consistent communication with their followers. Engagement can be measured by reviewing social analytics such as clicks, likes, reactions, shares, comments, and mentions.

Influencer marketing is truly a growing and effective trend. If you haven’t done so already, definitely explore this marketing strategy for your brand. To recap, working with a micro-influencer to promote your products provides you with access to a larger reach, strengthens your brand messaging, builds trust and loyalty, provides you with trackable sales, as well as increased engagement levels. When you’re successful complete with your micro-influencer marketing campaign, you will have boosted sales.

Want to know more about this topic and how to get started with your own campaign? Reach out to our friends at Socialpeeks, as they promise that the “results of influencer marketing have shown to have one of the highest ROI of any digital marketing activity”.

 

Author:

Brooklynn Boyer is Marketing Director for Socialpeeks, a marketing technology company that runs wildly successful influencer marketing campaigns with the help of its campaign management team. Visit www.socialpeeks.com to learn more.

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Choosing a Domain Name That’s Right for Your Website

Before your new site can take the web by storm, you’ll need to decide on a suitable domain name. Unfortunately, this is often easier said than done. Whether this is their first site or one of many, a fair number of site owners fail to put in the proper amount of effort when selecting domain names. Tackling the name selection process with a lackadaisical attitude can have a number of far-reaching consequences, most notably low search engine rankings and confusion on the part of visitors. Luckily, choosing a name that perfectly suits your site doesn’t have to be an uphill battle. Putting the following tips to good use will ensure that your site receives the domain name it deserves.

Utilize Relevant Keywords

When creating a domain name, it’s important to give prospective visitors a solid idea of what your site’s all about. This will help keep confusion to a minimum and improve your chances of receiving a favorable search engine ranking. For best results, choose words that emphasize the specific field your sites cater to and any services you may offer. For example, if your site is meant to promote a hamburger restaurant in Austin, TX, your domain name should be something along the lines of “BestBurgersAustin.com” or “AustinBurgers.com.” In the search for premium domain names, the importance of clear-cut keywords cannot be overstated.

Keep it Short

In the digital age, people are bombarded by information from all fronts. Whether surfing the web, watching television or checking social media, most people are constantly processing new info at a relentless pace. That being the case, it’s in your best interest to keep things brief when deciding on a domain name for your website. Not only will this make your domain name easy to remember, it will ensure that it can easily be typed as well. For best results, make a point of limiting your domain name to no more than three words. Additionally, if possible, make these words as short as possible. The shorter the name, the more likely it is to make a lasting impression on prospective visitors suffering from information overload.

Limit Your Use of Symbols

In the quest to create a catchy, concise domain name, take care to limit your use of numbers, hyphens and other symbols. The inclusion of any of these items can make domain names very cumbersome to type, thereby increasing the likelihood of typos and misdirected visitors. Regardless of what area of interest your website serves, odds are it has its fair share of competition – and prospective visitors won’t hesitate to hit up one of your competitors if accessing your site becomes a chore. While it’s true that a small number of successful websites have domain names that break this cardinal rule, these represent rare exceptions.

Choosing the right domain name can seem like a daunting prospect, particularly for first-time site owners. However, with the right tips at your disposal, this doesn’t have to be the case. Keyword integration, brevity and the exclusion of unnecessary will all serve you well in your efforts to craft the perfect domain name.

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The Ultimate Warning Signs Checklist of A Low-Quality Web Host [Infographic]

While mistakes are a part and parcel of doing business, some mistakes can cost you more than others. As an ever-evolving landscape, the online world is full of opportunities that can help make your business a profitable niche. However, for you to achieve success, you need to ensure that your website is built on a robust CMS, have a good domain name and has a reliable web hosting. Thus, one such common mistake, which if not rectified can negatively affect your site’s ROI is a poor quality web hosting.

A good web host is important in order to improve your site’s speed, which will help enhance user experience leading to improved ranking. It will also help improve your website security by providing you with a safe and secure framework. Additionally, it will help make integration of new software on your site easy and provide essential features like daily backup, 1-click installation and more, which will further aid in keeping your site one-step ahead of your competitors.

However, choosing a reliable web host can be a challenge, simply because there is a wide range of hosting providers to choose from. This makes the task of selecting the best from the lot difficult as mostly all claim to be the best while offering you ‘unlimited’ everything.

Thus, if you are facing this dilemma and are not sure which is the best hosting for your website then check out this web hosting warning signs infographic that will help you make the right decision. This infographic can be used as a checklist by both – those looking to purchase a web host as well as those who have already purchased one.

Comprising of 21 warning signs, this checklist will help you steer clear of terrible hosting service providers. As such, take a look at this infographic and make the most out of it!

21 Warnings That Indicate It’s Time to (Switch) Your Web Hosting Right Away[Infographic] by the team at Hostgatorcouponcode.in

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5 Mistakes to Avoid when Managing Remote Teams

Managing a team in itself is a difficult task. Different types of characters, cultural influences, and perceptions affect the way people interact and collaborate with each other. As a manager, you need to find the balance of listening, the proper language to use, providing the necessary support and the approach of delegating tasks to your employees. This task might be even more challenging when managing remote teams. There is a lot that can go wrong.

In this article we’ll elaborate 5 mistakes and how to avoid them when managing remote teams:

1. Dropping the ball on regular meetings

Having independent employees is a great thing. They get the work done and you don’t have to worry about falling behind on projects and tasks. However, there is always need for an update on work progress. Having regular meetings is a must in order to keep track of how work is going and what the obstacles a remote team member is facing as well as crucial points where you can provide assistance.

In today’s day and age, there are many ways you can stay in touch with remote teams. Using video conferencing equipment, free messaging platforms and gadgets are by far the most suitable options as they offer the advantage of meetings that feel like being physically present in the same office, having a face-to-face meeting. So, make sure to schedule regular meetings with remote teams, even if just for a simple “Hello”.

2. Micromanaging

On the other hand, there are managers who feel the need to know everything their employees are doing. When employees are at the office, this is rather simple as you can stay on top of everyone and exhibit micromanagement. For remote teams, this is a more difficult thing to do as these teams are not in the same space as the managers. Another thing to better avoid is the manager’s tendency to check in way too often with their employees. This creates an unpleasant situation causing the employees not to feel at ease, brings frustration and leads to unnecessary stress.

Take into consideration the act of allowing independence for your remote employees as well as how often you get in touch with them. Having clear-set rules about the methods of reporting, how often and when is really important to get quality results while at the same time avoiding the need for micromanagement altogether.

3. Not building a collaborative culture

Remote teams can often feel left out and isolated because of working by themselves in all projects. For that reason, it is important to build an effective collaborative culture between in-house and remote teams.

Encouraging the development of such philosophy within a company leads to more effective teams and successfully enclosed projects. You can provide the space for remote workers to join meetings held at the office through video communication even if these meetings may seem somewhat insignificant to them. It will still contribute to keeping everyone updated on the latest developments within the company, provide room for their input and experience in solving obstacles.

This way remote teams will feel appreciated while you develop a collaborative culture where all employees have a sense of being included and important to the overall development of the company.

4. Not focusing on important matters

The main concern of each manager is to create sustainable progress where goals and targets are met. Trusting employees and validating their work through online collaboration tools will lead to a more effective progress and a more productive working bond. It should not matter where the employee is working from as long as they provide quality advancement in their work and the company’s performance remains in high standards.

5. Relying extensively on e-mail

Relying on e-mail as a communication means between your remote teams is a necessity. But, relying too much on the e-mail does not allow space for verbal elaboration and feedback to tasks. Therefore, making use of other communication tools, such as video calls, is a great way to allow your employees to open discussions as well as to freely express their opinion and concerns verbally. Being on the same page is crucial for successful work when a remote worker.

Conclusion

It is highly important for managers to keep track of what their team is doing, regardless of whether the team isin the office or working remotely. It is also essential to avoid making the above-mentioned mistakes while managing remote workers as it can lead to a decrease in motivation, unnecessary stress and frustration. To spare yourself from such distress, make sure you hire professionals who are not looking to override the system.

Build social culture between teams and offer proper tools to collaborate. Investing in good video conferencing equipment that allows teams to communicate properly is something you will be thankful for. And above all, make sure you lead your team into focusing on what is important.

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Key Tips You Should Remember When Investing In Cryptocurrency Market

Investing in cryptocurrency is difficult for several reasons. Perhaps, the most common thing people may think once they have heard about cryptocurrencies is which coin should they buy.

Indeed, investing successfully in this modern type of financing starts with the proper gathering of information and understanding the risks and basics of the circulating currencies. This article will provide you tips on how to keep a long-term investment in cryptocurrency.

Build Your Investment Portfolio

Like any other venture, investors have to create their portfolio and actively work on it. Also, they need to focus on it for the long-term run.

Building an investment portfolio with various cryptocurrencies is the way to run, but picking them is selectively compelling. Thus, only spend your investment on things you only know, and keeping your emotions in control are the policies that should always practice in every portfolio.

Watch the Market Capitalization

The cap of the market gives more data about your buying choice than just the price alone or both. What happens usually is people look at the value of the coin and suddenly jump into buying it.

Also, it is essential to remember that the higher price of the coin doesn’t get its capitalization greater than another coin with the lower value. It means that investing in the lower value of the currency gives you a greater chance of survival for the future compared to the higher price of the different coin.

Besides, the price of a cryptocurrency still depends on its market capitalization concerning other coins, which means it links to the stock of the cryptocurrency. Thus, it doesn’t look like a good choice to buy the currency by seeing their prices only.

For lasting investors, if the price is reasonable and market capitalization is at its best, then it is an excellent option to engage in the investment.

Bargain Wisely For the Dip

If crypto is currently escalating, then it’s a smart choice to wait for a dip. Though some may have witnessed the rise of the Bitcoin’s price, it’s still not sustainable and usually will change or even go into multiple revisions. It is particularly accurate for cryptocurrencies as the fundamental value depends on the demand and supply alone.

Thus, Bitcoin as an entity can’t produce enough amount of profit as a company can, that’s why price rise and drops are more severe and frequent.

As the price is being dependent on demand and supply analysis, emotions can have a great impact, which is usually coming from the news or views of some influential people. Briefly, buying the dip seems to wait for correction is a wise choice instead of going with the majority when the price is already rising.

Choose The Coin That Lasts

In the world of cryptocurrency, currencies die all the time. Other coins may stay alive for a period in the markets because of their potential. For instance, Ripple, Bitcoin, Monero, and Ethereum are considered to be the legit cryptocurrencies because to their purposes.

These cryptocurrencies solve specific problems when it comes to the constant game of survival. If you are going for a long-term investment, you should choose those coins which will provide you lot of benefits and offer better solutions beyond buying platforms.

Moreover, cryptocurrencies are continually rising and falling. Thus, you have to do due diligence first before investing.

Takeaway

The value of cryptocurrencies and the rise of technology has exploded in the past year. The only problem is there is enough upside potential to invest in cryptocurrencies. The key factor is that Bitcoin is not only the cryptocurrency that you can buy.

Though there were security breaches in the crypto market a couple of years ago, it looks like those issues can no more impact the market in today’s trade. And still, there are financial institutions like Ashe Morgan and other companies that may help you bring your investment to the top.