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Pathfinder Business Analysis P Ltd

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Forecast – India Businesses to invest more on technology this year
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Intel’s new Smart Glasses to rival Google and Microsoft -->
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Top Technology #Trends that will rule 2018
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What is Content Localization? ->
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5 Things to Know or Do in 2018 by Business Owners

Many small business owners are entering 2018 with many queries about their increasing tax bills. They are also confident about the strong economy that they could yield good profits. Apart from finance, there are many other troubling issues were present in 2017.


For small business owners, tax rates are changed in the new tax law irrespective of their proprietorships. Not everybody getting the benefits. Savings of some owners are vulnerable in 2018 as they might cross income thresholds.


Many small business owners are directly reliant on customers. Businesses like restaurants and other service providers are the ones to mention. Natural calamities and unexpected accidents like hurricanes, Tsunami, heavy rainfall etc. can directly affect customer spending, which eventually slows down the economy. But if customers recoup their confidence fast, small businesses are the ones to rise from big dips so soon.


Owners who are looking for group insurance via government’s Small Business Health Options Program; they must go through a health insurance agency or through an insurance company. They can no longer sign it up through the government website, but they can visit and fetch some information regarding the same.

The new tax law has eradicated the requirement that persons buy insurance in the start of 2019. Some businesses which are very small in size has decided not to offer health plans to their employees. This is because of the Affordable Care Act that their staffers could source better coverage through health insurance exchanges. Moreover, businesses with less than 50 employees are not required to provide insurance and some owners may discover that their staffers are more interested in group coverage policies.

Sexual Harassment

Experts in the department of Human resources usually advise the business owners to update their employee handbook in the first quarter of every year. This update is more prioritized at many companies because of series of reports about sexual harassment in the work place and this should be looked upon seriously.

Owners running their business without a proper employee handbook should seriously consider creating one. This is not only to ensure the sexual harassment is kept in check, but also other company policies like discrimination, performance, discipline, reviews, ethics, use of company properties and many other issues are also considered. The handbook should also contain information on employee benefits and other related stuffs. Owners can find numerous templates online. They could refer them, create an own handbook that should be reviewed either by a HR professional or an attorney with proficiency in sexual harassment and the laws relating to the employees.

Minimum wage rises

This is another issue that small business owners should consider. Some laws were passed to raise the wage in states like Colorado, Hawaii, Maine, Michigan, New York, Rhode Island, Vermont, Arizona, California and Washington State. Eight states could feel some boost in their minimums, as their minimums are tied to the rate of inflation. They are Alaska, Florida, Minnesota, Missouri, Montana, New Jersey, Ohio and South Dakota. Small businesses like restaurants and other food service companies are certainly now be paying their employees more under the higher minimums. More than half of all workers are paid less than or equal to the federal minimum wage of $2.75 per hour in leisure and hospitality sectors.
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Impact of IoT in Business

Internet of Things (IoT) has changed the way organizations plan, produce and sell their products and services. Many companies are thinking of how IoT can be implemented across their processes and how beneficial it will be. In this article, some of the areas where IoT has a great impact is discussed.

Optimized production process
IoT based solutions, when introduced to a factory floor, overall quality of manufactured and intermediated products will have a greater impact, helping manufacturers to detect inferior materials ensuring the product meets the prescribed specifications, in turn saving costs throughout the product’s life cycle.

For companies with complex production processes, implementing IoT solutions is a simpler way that yield real results. Every production step is recorded and tracked with a real time performance monitoring system.

Take a paint booth of an automotive manufacturer as an example, where the temperature and humidity are measured by sensors and sent to the computer, the software automatically adjusts the fan speed when there is a deviation from the predefined values. Also, the system displays real time data to the employees and managers in a large screens and other smart devices, giving better visibility of the progress, allowing quick decisions.

Supply Chain Management
For logistics companies, IoT based solutions are helping to optimize the processes. Some companies like Amazon had a fast growth in the past few years. Amazon currently operates hundreds of fulfillment centers, hubs and warehouses around the world to manage millions of orders globally. Usually, Amazon employees enters the fulfillment centers, scan and pick products. But Amazon bought Kiva Systems which is into IoT enabled robotics. Now, Amazon is planning to automate the processes of scanning picking products for delivery. This way, warehouse efficiency is greatly improved, slashing 20% of operating expenses. Annual savings multiples, generating more revenue to the company.

Tracking and Managing Assets
For companies with large inventory assets, IoT can deliver some vital information like location, age and health of equipment and raw materials. Consider a company that manufactures air compressors used in various industrial applications. The company has designed a remote monitoring IoT solution, enabling customers to monitor the health of their equipment, receive maintenance alerts, thus helping in reduction of downtime. Air compressors in manufacturing units are critical. Downtime of these equipment is a major problem faced by many companies. Preventive maintenance alerts helps in reducing unscheduled repairs and downtime, increasing productivity.

Customer Delight
IoT has a greater potential when it comes to customer satisfaction. Take Caterpillar (heavy equipment manufacturer) as an example. Caterpillar’s autonomous mining machines, enabled with IoT solutions can work for longer hours with more precise routes than manually operated machines, thereby increasing productivity and operating cost by a healthy 20%. So the customers who bought these machines will reap more benefits, leading to customer delight.

So, IoT based solutions have a positive impact on businesses by increasing productivity, reducing operation costs, eliminating overhead costs, providing preventive maintenance schedule, etc.
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Present Marketing – The New Trends

Special importance on value, quality and customer delight

“Customer is the king” – Customers are at a greater weightage in deciding success or failure of a product or service. They look on many parameters like convenience, style, status, features, quality, etc. to buy a product or service. Marketers believes in “Give more for less” concept to grab customers in this demanding environment.

Building strong relationships for customer retention

In today’s world, competition is huge; especially for marketing. So, marketers are looking for long term customers. They are shifting their focus from transaction to relationship building. Big organizations create and maintain large sets of customer data that contains demographics, buying trends, past experience, etc., and customize offerings to attract and delight their loyal customers. This is to retain those customers throughout life. Marketing experts believes that it is easier to retain customers than creating new.

Think Globally – Act Locally

Today’s technology has smashed the communication and transportation barrier across the world. With the help of internet, customers can easily access global products; also, rapid transportation means have made businesses to think on entering global market beyond their borders. Businesses have to adapt to the cultural fundamentals of each region. Companies must think globally but should act locally.

Attentive towards direct and online marketing

Evolution of information technology has changed the nature of buying and selling. Direct marketing flow starts with hiring a sales person, setting up a distribution plan, network marketing layout, online marketing and contracting with big shopping/retailing malls.

Customers can access any company’s home page or their retail site to get better offers and order suitable products for them. They can even get ideas and advises with chat services integrated in the vendor’s website.

As a result, companies can really focus on direct marketing than wholesaling and retailing. These advancements ensures efficient buying and selling.

Services Marketing

According to a survey, more than 60% people are directly or indirectly linked to services marketing. Services are considered as immaterial and perishable, they just act as a challenge compared to materialistic marketing. Marketers are simultaneously developing strategies for services marketing for industries like insurance, software, consulting, banking and other services.

More inclined towards ethical marketing

The market today is highly prone to manipulation by those who lack principles and are eager to flourish at the expense of their competitors. Even governments has laid strict rules against malpractices, and marketers should practice ethical ways and maintain high standards in terms of business ethics.

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Tips to Attracting and Retaining Talented Resources

Developing a dedicated employer branding strategy, aimed on attracting and retaining talented workforce is highly important to win the war for talented employees. Here are some tips for building employer branding strategy for better talent hunt!
1. Look for the best fit
Attracting ideal candidates for the said position is important. For this, think on the best traits your top performing resources having in common. Draft the requirements on your carrier site mentioning the traits you are looking for. This will attract like-minded candidates and avoids interviewing wrong candidate, also saves time.

2. Revamp your Mission and Vision Statements
Make your mission and vision statements to directly mirror the firm’s assurance in providing ideal work experience to the candidates.

3. Your carrier site – Evaluate it
A good carrier site has two purpose. One is to help the candidates to conclude if your company is worth to consider and another to provide facility to apply for a suitable position. Make a unique and authentic content that represents your brand and culture of working.

4. Show how it feels to work with your firm
Showcase the work culture you follow with some dedicated sections like “Life at XXXX” pages with nature and behavior of your employees and the work nature they are in. Use some visual content for more impact. This will excite the right candidates to feel they could be the better fitment for your firm.

5. Stay with your target candidates
Some potent candidates are just site visitors who could be a best fit for your organization in the future. Keep a track on them when they visit your website by providing some engaging call to action buttons like “Join YY community!” that redirects to a registration form. By this way, you can add those potential candidates to your mailing list and will be easy to stay in touch with them.

It’s all about experience!! Employer branding mainly aims on keeping track of the entire employee journey right from visiting your site to retaining them in the future.
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