Category: Business

Why Businesses Need Chatbots

Around 50% of users expect to receive clear and instant assistance from a company, no matter what day and time it is. It’s true, today’s customers are pretty demanding, so every business is looking for a solution to respond to their expectations, assisting the audience 24/7.

The thing is that when users are sending their requests, in the majority of cases, they ask very similar and simple questions that could be answered by means of adequately configured programs. It’s required to introduce chatbot technology in the business to cope with the task. We shall thoroughly explore the issue to figure out why companies need to consider chatbot implementation.

Chatbots for business: how do they work?

The typical work cycle of any chatbot usually includes the following aspects:

  1. Receiving a request from a client;
  2. Analyzing of the request obtained;
  3. Determining client’s wishes and intentions;
  4. Executing the actions in accordance with the predetermined scenario (the script);
  5. Generating a response in natural language;
  6. Saving the dialogue to process future client’s requests;
  7. Sending a response to the client.

Starting from 2015, the evolution of ML and Big Data has contributed to a more effective way of communication with users. Thus, present-day chatbots successfully take advantage of Data Science technologies, adequate speech recognition, and other effective AI instruments.

Benefits chatbots offer businesses:

  • Increased sales. AI-powered chatbots help users find what they need by offering visitors items that people will most likely want. The drive of sales is possible due to the ability of chatbots to memorize client’s preferences;
  • Reduced costs. These technologies are capable of serving a huge number of consumers, meaning, staff costs could be significantly reduced. The practice proves that 75% of requests can thoroughly be processed and resolved by those virtual helpers. By the by, chatbots could be successfully applied if you decide to create an app for marketing and promotion;
  • Fast request processing. Chatbots can easily access huge amounts of data thanks to the programmed algorithms applied. Human beings will never be able to find the needed details that fast;
  • Automatization of communication. Chatbots manage to automate specific business processes. These virtual assistants effectively cope with solving simple tasks, thus, the personnel shall have more time to take care of more strategic challenges;
  • 24/7 performance. Chatbots can work around the clock with no days off. It means, whenever a customer needs to get in touch with you, even if it’s in the middle of the night, he or she shall receive assistance. Unfortunately, such AI-based consultation might be slightly far from ideal, still, it’s much better than nothing;
  • Growing client loyalty. When chatbots are implemented accurately, users will promptly get the answers to their questions. People won’t be forced to wait for a long time getting annoyed and irritated;
  • Data collection. The possibility to collect data on users is critical for every business, thus, entrepreneurs who take advantage of those virtual helpers can gather all essential details. The thing is that chatbots can simply ask users some questions to get more particulars. Consequently, all the details gathered allow businesses to provide their audience with the most personalized offers;
  • Holding the interest of clients. The technologies in question make a business to be latter-day and interactive. Such companies always manage to keep pace with the times. Moreover, a younger generation will be easily engaged as well.

Benefits chatbots offer clients:

  • Up-to-date way of communication. According to stats, around 65% of users would write a message to a company rather than call it. That’s what chatbots are for;
  • Easy content search. Customers don’t have to do the research to find the details they need. People can simply reach out to chatbots to obtain what is needed;
  • No waiting. 70% of respondents say they appreciate that chatbots provide clear and fast info. Managers can’t ensure such level of communication since they can’t interact with several customers simultaneously, while chatbots can;
  • Clear interface. Those technologies are very easy to use, and usually, chatbots are the ones to encourage conversation. Customers don’t have to look for a dialogue box to contact AI-powered helpers, so it’s pretty convenient;
  • Total availability. Chatbots can bring equal benefits for both clients and businesses, so the ability to come to the rescue 24/7 is one of them.

To get the overall picture on chatbots we have to reveal all the secrets, so let’s move on to the next point.

Disadvantages of chatbots

While learning about the benefits, you might have a question why not everyone goes for chatbots if these technologies provide so many bonuses. Businessmen consider a few reasons for this (though, they could be successfully resolved):

  • limited cases of use;
  • security concerns;
  • cost;
  • user distraction;
  • accuracy concerns;
  • support from management and executives;
  • training requirements;
  • ethical concerns;
  • ongoing investments due to regular upgrades.

Some inexperienced entrepreneurs use the above opinions and doubts to say “No” to chatbots, but those statements are completely unfounded. However, these virtual assistants do have real downsides, such as:

  • Possibility to annoy the audience. When chatbots’ dialogues aren’t thought through properly, users won’t like the service and might decide to leave the platform.
  • Misunderstanding. Chatbots might not understand properly the tone of the message. Just imagine: a person sends the message, say, “Your product is truly awful!”. If a chatbot gets confused and misinterprets the meaning, answering “It was my pleasure to assist you!”, the situation will be pretty ridiculous.
  • Inability to solve non-standard problems. Sooner or later, this won’t be an issue anymore. Still, for now, such a disadvantage can cause certain troubles.

Despite the above limitations, it still makes sense to implement these AI-powered solutions. So, if you do, it’ll be wiser to consider the drawbacks while creating your chatbot. It won’t be too difficult to avoid those issues.

Summing up

There are industries that are already taking advantage of virtual helpers widely. Among the brightest examples, we shall distinguish the following markets:

  • insurance
  • fashion and beauty
  • telecommunications
  • public utility services
  • healthcare
  • public catering services
  • restaurant business
  • finance
  • eCommerce
  • tourism and transport services
  • HR.

In fact, clients don’t mind communicating with chatbots: 40% of respondents have no issues with being helped by those AI-based solutions. Under the condition, the service is properly made, there’s a great chance (up to 90%) to get a positive response.

Work-Life Balance: How to Work Smarter

For most people out there stuck between work and life responsibilities, trying to strike a balance can feel like the holy grail in the game of life. It can often be so challenging to strike a proper balance that most people resign themselves to the stresses of imbalance. Thankfully, there’s no reason to resign yourself to a life of pervasive stress, especially since there are so many ways to bounce back and make the most out of the situation. Striking work-life balance doesn’t have to be so unattainable. Here are some ways to help you on how to work smarter.

For the eager entrepreneurs

For those trying to run their own business, it’s crucial not to get hit by burnout. This study is all about entrepreneurial burnout, including the causes and a potential way out. It can help you learn all about how eager entrepreneurs tend to suffer from burnout, specifically through emotional exhaustion. That said, here are some tips for those trying to run their company:

  • Business software. Something as simple as having project management software for a contracting company can make a substantial difference in efficiency and productivity. It would be wise to look into business software for your industry.
  • Employee incentives. Your employees are the lifeblood of your business, which means employee incentives are the best possible investments for your staff. It can encourage them to do their best, as well as foster loyalty.
  • Learning to market yourself. Marketing your company can be challenging, though it can be trivialized with the help of a digital marketing agency. The reason why it’s so crucial to get help from professionals is that they can help you learn how to boost your company’s image without professional help in the future.

To help you relax

The tips above will help ensure those eager entrepreneurs have the necessary time to help relax. While it might still be a challenge to strike a balance even with the above tips, here are a few to help ensure you get to relax.

  • Writing a play schedule. Writing a work schedule is done for obvious reasons, though not everyone writes a play schedule for relaxation. The reasons for doing so are much the same – it helps you brace yourself for the responsibilities ahead and increases the odds of your getting the job done. It can seem like you are forcing yourself to have fun, but it’s a good way to disassociate from work for a while.
  • The help of wellness products. Wellness products such as organic CBD could potentially help with various health issues, including stress relief and alleviating the symptoms of depression. It can potentially help individuals focus on relaxation during off-hours and off-days.

Aside from the essential best-practice methods above, it would also be a good idea to catch up with family and friends. Everything might seem overwhelming at first but if you manage to get used to a routine, striking a work-life balance is more than possible.

3 Tips for New Restaurant Owners

New restaurant owners have to manage a lot of moving parts before their business even opens its doors. Problems will naturally arise once customers are sitting in seats. The more you can prepare ahead of time, the less these unexpected issues will hurt your bottom line. Here are some tips for laying the groundwork for a successful grand opening.

Get Permits and Licenses Early

The process of acquiring building permits can be confusing and littered with pitfalls. Construction can easily be put on hold after only one negative visit from an inspector. You must plan for these delays because challenges will inevitably happen.

If you plan to serve beer, liquor or wine at your restaurant, then apply for your liquor license Houston TX right away. Sometimes these licenses can take weeks or months to get approved, and there is not much you can do about it. The last thing you want is a grand opening with no alcohol.

Invest In a POS System

A POS, or point of sale, system is an investment worth making. You may think that an old fashion cash register will do the trick, but it robs you of valuable information that you can use to grow your business. POS systems record the items and individual amounts for each sale. The information can then be used to identify which items are making money and which ones are not. You can see trends over different seasons or around holidays. They can even calculate how much sales tax you will owe by separating taxable and non-taxable sales.

Hire a Good Bartender and Hostess

These are two positions that often get overlooked. Don’t just stick extra wait staff in those roles. Customers who order pricey drinks from a bar want it to be better than what they could make at home. Therefore, hire a bartender who knows what they are doing. There is more to making a good cocktail than following a recipe. People will return to a restaurant more often if it makes their favorite drink well.

A hostess is the first person who greets customers when they enter your business. They can either give a good or bad first impression of the service you are selling. Hostesses also tend to be the ones handling hungry patrons when there is a long wait. So, you want someone who loves chatting with people and can keep their cool under pressure.

Outdoor Storage Ideas for Your Property

Middle-class Americans own more things than any other middle-class group in history.  We hold so much that we are finding ourselves in the middle of a crisis to put everything.  When our basements are full, and our closets are stuffed, we start turning our eyes to the outside world.  If you’re running out of storage, and don’t want to give things up, here are some ideas for adding external storage to your home.

The Classic Shed

A shed is a fantastic place to store anything that you can’t fit in your home or need specifically for the yard.  These buildings have been an American staple for over a hundred years, and they’re making another comeback.  You can get one of these time buildings in nearly every color and style to match your home and the option for you to build one by hand for the rustic feeling.  Instead of shopping around for Boston houses for sale, you can upgrade your space by adding a shed!

Reorganize How You Store Things

Storage space is only as good as the system that fills it.  If you haven’t given much thought to how you store things, but want to start considering it, here’s how.  In your shed, you should aim to have anything that you often use readily available.  After that, you should have things that you’ll be more likely to use every season in the next area of reachability, and then finally should be large holiday pieces like Christmas trees.

Outdoor Furniture That Doubles As Storage

There’s no such thing as wasted space if you take the time to plan.  When you’re looking for new patio furniture, look for chairs and tables that have storage underneath.  You can find everything from benches to rocking chairs that have room to keep things.  These spaces aren’t going to be great for fertilizer or soil, but you can keep tools close to where they’d be in use.  A watering tin on the bench next to the tomato garden could save you extra steps, without having it be somewhere that you could fumble over it.

Use All Surface Area Available

Don’t just pile up boxes and think that you’re organized.  Hang up tools on your walls, make vertical racks, and learn and improve as you think up new storage systems.  It might take some getting used to, but if you make a sound system for yourself, there’s nothing that will get in your way of keeping things organized and tidy.

Declutter When Necessary

The last thing anyone wants when figuring out where to keep their things is judgment.  Nobody wants to give away to get rid of something because they were told they went an arbitrary number too far for items owned.  Still, a little declutter run can be all it takes for you to gain new interest in your belongings. Take the time necessary to get rid of things you won’t use and reevaluate how much space you have.

Card Holder: Why A Card Holder Is Essential?

There are some things in life that every person needs. And one of those is a really good card holder . When you have a good card holder, you are ensuring that all your most important cards—whether that be your driver’s license, your credit card, your social security ID, your loyalty cards to stores, and so on—are well looked after.

It is important to first understand the benefits and essential needs that a good card holder provides you with so that you buy the correct one for you!

So why is a card holder essential? And will it matter if you have one or not?

We are going to explain all the reasons why you should not  wait any longer to get a card holder and the benefits it provides you with!

  1. It provides you comfort for your cards

There is nothing worse than having your cards all over the place and not being able to find the one you are looking for. Especially when you are needing to whip out a specific card in a timely manner, you don’t want to waste time looking for it or risk misplacing it. A card holder ensure that all your cards are stored together in a way that not only provides comfort to the mind but also comforts to your ease of carrying them with you! A card holder can act as a small purse or be put inside a larger bag that you can easily find!

  1. It provides you with a sense of style

Card holders are something everyone needs because everyone has important cards to carry around! But not all card holders have to look the same! You can ensure that your card holder remains unique and properly showcases your personality and style. That means that you get to decide what type of material it is made of, what color it is, the size it is and any additional accessory items included with it. This also means that it will always be easy for you to identify your card holder, no matter where you are!

  1. It ensures your cards are protected

Many of our important cards need to stay protected to ensure that they will work properly when you next go to use it. For example, imagine how awful and stressful it would be going to pay for your groceries and whipping out your credit card to discover it got bent and no longer works! Or if you go to take out your ID card and it suffered from water damage, making the photo unrecognizable. A card holder offers protection from your cards getting cracked, wet or bent—meaning that they will be well taken care of in your card holder!

  1. Makes it harder for your cards to get stolen

When your cards are just casually in your back pocket or in a pocket in your purse, it is really easy for a sneaky pick pocketer to swipe them without you noticing. But a card holder is much bulkier and means that you will definitely notice it if they try to take the entire holder! This, in turn, tends to ward off potential thieves from trying to steal your cards. A good card holder offers you a sense of protection that means you don’t have to worry about someone stealing your identity or bank cards.

These four reasons are just the beginning of why card holders are absolutely essential to have! Not only do they showcase your personality, but they also make sure that your valued cards remained undamaged and ward off any criminals who try to take them. A holder is such a simple investment to protecting some of your most valuable items, so don’t hesitate in getting your own today!

Is Alkaline Water Good For You?

How often do you think about the water you drink? Most people turn on the tap and accept the fact that it has been treated by the water treatment plant, making it safe to drink. This blog will tell you Is Alkaline Water Good For You.

Of course, this is a sweeping statement that may not be as true as you hope. While the water leaves the plant adhering to strict government guidelines, it can pick up contaminants on the way to your home. These are in the form of bacteria and debris, collected from inside the pipes and fro pipe damage.

There is also the question of what chemicals you actually want in the water. Chlorine and fluoride are added during the treatment stage, but research is conflicting on the benefits versus the disadvantages of these compounds.

That’s why so many people look to water filters, specifically reverse osmosis by cleanandclearwater.com.au, to ensure the water they are drinking is as safe as possible.

This increasing awareness of water also means people are more interested in alternatives. It’s what’s led to claims that alkaline water is better for you. But, is it true?

What Is Alkaline Water?

Water naturally has a pH level of 7, this is considered to be neutral and generally safe for all forms of life. If you decrease the pH level then the water becomes more acidic. In contrast, increasing the pH level makes it more alkaline. The scale goes from 1, (very acidic), to 13, (very alkaline).

Water with a pH of 7 can be ionized to increase the alkalinity, it’s normal to increase it to pH 7 or 8.

The Benefits Of Alkaline Water

The theory is that alkaline water is better at reducing acid levels in your body, helping to maintain the pH balance in your body. That makes it especially beneficial for anyone that has a naturally acidic pH level. In shit, maintaining your natural balance should make you feel more comfortable on a daily basis.

Research goes further than this. Studies suggest that alkaline water can actually reduce the occurrence of an array of ailments. In fact, these are the benefits attributed to drinking alkaline water.

  • Hydrating

Water hydrates but alkaline water is said to hydrate more efficiently and faster. This makes it a good choice for those that exercise regularly and need to stay hydrated, without filling themselves up with fluid.  

This is based on science, alkaline water molecules are smaller than pH neutral water molecules, making them easier to absorb by the body.

  • Boosted Immunity

Alkaline water also boosts the immunity of your body against disease. This is because your immune system has to neutralize the acid in your body to maintain your health. If the alkaline water is doing this your immune system is free to focus on what it should be doing, protecting you from disease.

  • Minerals

In general alkaline water has higher levels of minerals like magnesium and calcium. Both of these are essential to your ongoing health. Getting an adequate supply simply by drinking water is a bonus 

  • Antioxidants

It’s unclear why but alkaline water appears to have more antioxidants than pH neutral water. These antioxidants discourage the growth of free radicals within the body. It’s these free radicals that are exceptionally good at aging your cells and damaging them.

Because the alkaline water reduces the free radicals it can reduce the effects of aging on your body!

  • Neutralizing Acidic

If you’ve ever suffered from an acidic stomach you’ll know how painful and even deliberating it can be. Because it reduces the levels of acid in your body it can lower the acid level in your stomach and eliminate acidic stomach syndrome. 

Caution

You should be aware that alkaline water has an array of positive effects on your body. But, as with most things in life, moderation is the key. 

It s possible that too much of it will reduce the natural acids in your stomach to a point where the bacteria that live there can‘t survive. Because these are beneficial bacteria you may find an increased likelihood of infection and other issues connected with an inability to digest your food properly.

In other words, drink it but don’t make it the only water you drink.

Making it

You don’t need to buy special water. Simply take a gallon of water and add half a teaspoon of baking soda. The baking soda should have a pH of 9 or higher.  Give the mixture a good shake and test the pH before drinking.

It can be stored in the same way as any other water although giving it a quick, shake before drinking is a good idea.

You can also make alkaline water by squeezing some fresh lemon juice into your water. Although lemon juice is acidic, when mixed with water it actually increases the pH, making it alkaline and a great way to start the day. 

 

WAYS TO IMPROVE FINANCIAL CONDITIONS OF SMALL TECH BUSINESSES

Survival in today’s competitive world is becoming harder and harder for businesses and to improve financial conditions. Gone are the days when you just had to open up a brick and mortar store and market your product a little bit to start getting customers. Now are the days when you have to incorporate anything and everything into your marketing campaign to attract customers. If you don’t, your competitors will and you will end up losing a lot of business. 

As hard as it is to do business in today’s world, it is harder and much more difficult for small businesses, especially those that are related to tech. There are a whole lot of additional responsibilities that they have on their shoulders as compared to other industries. They have to make sure that they are always one step ahead of the tech game. They need to be up and up on all the latest and state of the art technology that is coming into the world. And right now, that means every other day. 

What can a Small Tech Business Do?

Fret not! It doesn’t mean that you can’t have your own small tech business. On the contrary, you can do very well if you just take care of a few things related to it. One of the things that you absolutely must do is to keep an eye on your financial situation. There aren’t many things that can take you down the path of bankruptcy and closing your business, but finance is one of those things that can. All businesses depend on their cash flow for their business. If you are aware of your financial situation and you know what you need to do then you can easily manage all the other things to ensure that your business runs smoothly. 

Stay On Top of Money Management

Here are some of the things that you need to do to make sure that you are always in the know and nothing can get past you. You will have to do a little research, for example, if you are residing in Philadelphia then you must know how to get the best small business loans in Philadelphia among other things. 

So, let’s dive in.

Manage your accounts

If you are good at accounting then you can easily do it yourself, otherwise, you need to hire someone who can keep track of your money; where it is coming from, where it is going, and other things. Currently, there are a lot of DIY accounting software that can help you if you know a little basic accounting.

Review your costs

As a small company, you need to make sure that the money you are spending is worth it. You cannot have a lot of expenses, especially if they could have been avoided. Little things come together to make giant problems and that is what happens with a lot of businesses. 

Make financial projections

Having a clear view of the future is imperative in any kind of business. So make sure that you work out a plan that has strategies for future hurdles that might come your way. 

Stay on top of invoicing

How soon after sending your order do you generate an invoice? If the answer is anything other than immediately, then you need to change that practice. You have to send out your invoices immediately after delivering the products or providing the services to your customers. Make sure that they know the amount of time that they have for payment as well as any payment terms that they need to be aware of. 

Don’t think that once you have sent the invoice, your work is done. You now have to send follow-ups to your customers otherwise they and more importantly you could forget about it. You can easily use software to either create email templates or SMS templates. 

Separate business, pleasure and private accounts

A lot of us might think that we can manage all the aspects of our lives from one bank account and it won’t be too much trouble, but that would be wrong. Make sure that you have separate bank accounts for your business. You don’t want to get your business income mixed with your personal finances and then not being able to identify or explain the losses. As if that’s not enough, you will have a hell of a time when tax time comes. Having a separate bank account for your business can help you in keeping track of the income and expenses as well as your profitability.

Keep track of personal loans to your business

A lot of the time, you will find it necessary to transfer money from your personal bank account to your business account. Always keep track of that money and pay yourself back as soon as you can. Otherwise, if you get used to it, you might end up with nothing in your personal account.

Pay yourself

What does that mean? You are the owner of the business. Everything belongs to you, right? But paying yourself a salary just like everyone else can have a lot of benefits. You don’t have to take everything that your company is making, just take enough so that it can help you out whenever you need. Consider it as your safety net in times of need when you get unexpected expenses.

Conclusion

Follow these tried and tested financial tips to improve financial conditions and you can secure a good future for your small tech business and keep away from obstacles as much as you can to improve financial conditions. There will be problems, but you will be able to keep them in check.