3 Ways AI Can help your Business

When you think Artificial Intelligence, you may think of  a Will Smith movie where he fights off robots or a robot who does your roommates dishes. But also AI can be a solution to many everyday business problems.

What is AI? Artificial Intelligence is a simulation of human behavior in computers (sounds so 2080 doesn’t it?). It is not the Matrix or the future, it is the technology of today.

Technology is racing ahead faster than ever before!-or faster than Usain Bolt’s Olympic debut race time. With more technology advances in the realm of Artificial Intelligence, it increases the possibilities for what we can accomplish without human intervention. If you are a small business owner, you may want to take advantage of some of these advances- they can make a big impact on the way you drive sales!

 

1) ChatBots = Extra Support for Customer Service on your Website

Having a ChatBot on your website for customer service/ support is deemed highly beneficial. AI is helping ChatBots get better at recognizing what are customer wants and needs. It is important to think of it as another user interface for customers to interact with your company. ChatBots are also useful for obtaining specific customer information without digging for it. Think about your most commonly asked questions from your customers-for an example- “How late are you open?”, “Do you have this item in stock?”, “Where is your location”…etc. These kind of calls can eat up a good portion of your customer service care- even if they are easy to field. If your ChatBot has the info it needs to answer your commonly-asked questions, your company can save a lot of time. Which also means it reduces the friction for customers, allowing them to quickly find what they want and making that decision to buy easier.

 

2) VA…Virtual Assistant

AI is ever-evolving to making your life easier and with less hassle. If you are a business owner- you wear multiple hats and sometimes it may be difficult to stay organized. When you have an average of 150 different emails every single day- it is easy for important emails to slip through the cracks. AI provides an alternative solution to having 10 different color post-its and an angry client who thinks you are ignoring them…a virtual assistant.  These assistants need more instructions but they can easily be used to help chase down people for meetings, follow up on important emails and help you stay on track.

 

3) AI for Accounting (AcoBots)

Automating things that are tedious and repetitive can be a beneficial thing for your finance team. It can free up time for them to focus more of their energy on strategic thinking. AcoBots help you keep track of your bookkeeping to generate helpful insights that can help you create valuable decisions for your company.

 

Bottomline:  AI is there to help you and take away some of your stresses in your businesses.

Top 5 Tips on Hiring the Right Person

Having the right team can either make a business or break it. Great employees are the driving force for any success of your business. The hiring process is crucial to employing the right person that fits best within your organization.

 

The interview is an important step to get to know your potential employee- it is not a time to be critical on someones nail polish choice or how someone keeps tapping their shoe. Here are some questions you may need to ask yourself, to find the right employee for your company.

 

1) Are they team players?

You want to hire someone who is very collaborative and can work within a team. You don’t want to hire someone who solely thinks about themselves and their own competitive gains.

 

2) Can they see patterns in disparate information?

You want to hire someone who can analyze mountains of data and not have an overabundance of information overwhelm them.  Furthermore, with this you want someone who can think critically and understand changes and trends within data to compose insights and strategies.

 

3) Do they ask great questions?

Asking questions is the simplest and most effective way of learning-  you want a candidate who is always interested in learning and absorbing much knowledge as possible about the company/industry.

 

4) Can they admit to mistakes?

Being able to admit to your mistakes can also make you be able to glean important lessons from them. You want a candidate who learns from their mistakes and moves on.

 

5)Is the candidate highly adaptive?

In any business change can happen quick. You want someone who is steady on their feet in adapting to changes within the work environment.

 

Bottomline: It is important to ask yourself these questions to find someone who fits well within your organization. It is important to have a well rounded candidate who is ready for anything that comes their way. 

5 Biggest tips to make your Business Grow

It takes a lot of preparation for rocket ships to launch into space and explore the galaxies. Endless hours of training, spinning in that circle thing, measuring lung capacities..etc. There are important and crucial steps to take before BLAST OFF. Astronauts must be prepared well for smooth sailing- similar to business owners.

 

For a prosperous and smooth journey into the galaxies of business growth:

Here are the biggest tips in making your business grow- without any turbulence.

1) Drop the “Build it and they will come mentality”.

 

Sometimes businesses overlook the importance of a marketing budget. Some may say Facebook is something for millennials and Yelp is only used by a super angry soccer mom who’s son wasn’t happy with his chocolate chip pebbles pancakes at the local Pancake Shop. However various consumer studies have concluded with-marketing in any form (print,digital..etc)  is highly important and crucial for the success of a business. It helps create more traffic onto the business website and gives a customer centric approach to gaining further leads.

 

2)       Happy Team Happy Business

 

It is important to keep your employees happy and not let it be a scene from the movie “Office Space.” It is important to make your employees feel appreciated because if they are unhappy- sometimes that attitude can spill over into customer interaction. A happy work place boosts productivity.

 

3)    Invest in the right type of technology

 

Welcome to the 21st century, stop using outdated technology that is as old as Madonna’s Material Girl. By utilizing the right technologies, it gives you the ability to systemize and scale creating sustainable and often more profitable growth.

 

4)     Attend networking events

 

Investing time in building your networks will benefit your business tremendously. Sometimes it’s not about what you know- but who you know. Networking allows you to build relationships with other people and encourage them to refer customers to you through WOM (word of mouth)

 

5)  Nurture existing customers and look for new opportunities

 

Set aside specific strategies in place to boost up customer retention. Stay in contact with existing customers via an e-mail newsletter. At the same time look for new opportunities to get more work and build your customer base.

 

Get the funds your business needs. Today.

Connect with a Yalber representative by calling us or submitting an online application

Get in touch

 

 

Ease the moments of panic during the holidays

Out of all of her friends, Pam was always the one who knew the latest about health and beauty products.  Ever she was a child she always dreamt of opening her own store. She thought to herself, how can she make her neighborhood more healthy?- She then decided to open her own health and beauty product store. When the time came to open her own store in a busy boutique street in Chinatown, New York…she was ecstatic! But when the holiday’s came-she underestimated the amount of traffic she would receive.

Pam was in panic! She was very close to be under-stocked and overwhelmed. She was very limited in monetary resources to provide her store with more stock. She went to her local bank-waited around two hours for a conversation that was ten minutes.

The bank needed collateral from Pam and the process would take around 2 months for her to be refunded. Unfortunately, a two month wait was no good for Pam she had to have her stock in time for the holidays!

Pam’s frustrations quickly turned into a panic-she did not want to let her customers down. The holiday season has always been the time when Pam’s business saw a massive hike in profit-since heath products are  a great gift for a loved one.

The light bulb on top of Pam’s head lit up! She quickly remembered when her friend Andreas Soto needed quick funds when his mechanic shop needed new equipment. Andreas discovered Yalber.

Yalber provides quick and easy funding for a business. An application takes around 5 minutes and a business can get approved within hours-but quicker than a bank. What makes Yalber different from other sources of funding is the fact that Yalber does not have fixed repayments or a time frame like most loans have; Yalber likes to take away the stress from merchants- so you have more time concentrating on your business than debt.  Businesses can be unpredictable sometimes and Yalber gets that; so even if Pam’s business didn’t go well as expected, she does not have to worry about repaying the balance at all. Yalber is a non-debt financing option for businesses. Wondering how it works? Yalber invests in businesses that generate revenue from products or services. Yalber collects a royalty, or a percentage of your business’s future receivables in exchange for an up front-investment.  Unlike other royalty investments, Yalber does not receive royalties of your business’s sales for the life of your business. Instead, the royalties we receive is limited to a specific amount.Once the amount has been paid, the royalty is returned back to your business

Pam went on the Yalber site and could not believe how easy it was to apply and receive funding. The next day the funds were in her business account and she then had the opportunity to restock her boutique. Her customers were happy, and she was relieved!

The Yalber way helps ease the moments of panic many merchants have during the holidays. Please contact us to learn more!

 

Get the funds your business needs. Today.

Connect with a Yalber representative by calling us or submitting an online application

Get in touch

 

GET FUNDING
X