How Does Market-Making Work?

Description-Market makers play an essential role in supporting sufficient liquidity for trading platforms. By continuously placing orders in an order book, they facilitate trade execution for other traders and investors. In this article, we will discuss the core aspects of crypto exchange market making. 

During the last couple of years, the crypto industry has made a huge leap toward institutional adoption. The world’s leaders in technologies and finances started to see crypto as an opportunity to diversify their investments and capitalize on volatility. Institutional trading of crypto demands the quality development of trading infrastructure, where one of the core aspects is liquidity.

Market makers play an essential role in supporting sufficient liquidity for trading platforms. By continuously placing orders in an order book, they facilitate trade execution for other traders and investors, both retail and institutional. In this article, we will discuss the core aspects of crypto exchange market making

How Do Market Makers Make Money?

Market makers inject capital into the crypto market, therefore making it attractive for other traders and enabling quick trade fulfillment. Market makers are placing a higher selling price and lower buying price 24/7, profiting from the price difference which is called a spread. The difference may be as much as $0,5 from one coin, but when buying and selling thousands of tokens a day, market makers manage to earn substantial amounts.

The described market-making strategy is called two-legged trading and involves placing two orders on an asset simultaneously, where a buy order is below the market price, and the sell order is above it. This cryptomarket-making strategy requires an in-depth understanding of the market dynamics and predicting price movements.

What is a Market-Making Algorithm and How Does It Work?

Professional market makers use algorithms that raise their trading efficiency. Those programs integrate with crypto exchange APIs to help make better profits and provide consistent liquidity. 

Here are the benefits of algorithms in market making:

  • Reduced bid-ask spreads
  • Less volatile market
  • Efficient pricing
  • Increased liquidity 
  • Scalability
  • Faster response time
  • Much less human work and more automation.

How To Become a Market Maker?

Financial companies, brokers, high-frequency traders, and rarely individuals can participate in market-making programs on crypto exchanges.

A company that aims to become a market maker must have a solid background in trading and know how to use advanced instruments and software in trading. It also should be able to adjust its strategies depending on the market dynamics and never stop learning, for the market never stands still and new tools emerge. In addition, it must prove its compliance with regulations and capability to provide liquidity to a trading platform. 

Final Word

Market makers are essential players in the crypto market, especially when it comes to large institutional trading platforms. They create a smooth capital flow and a healthy environment, facilitating reduced bid-ask spreads, efficient pricing, and order fulfillment for both retail and institutional traders.

Leveraging Custom Clothing For Branding And Team Building

In the fast-paced business world, establishing a strong brand and cohesive team is paramount for success. Custom clothing, often overlooked, is a powerful tool in this quest. It goes beyond mere aesthetics; it’s about creating a sense of unity, promoting brand identity, and fostering a positive corporate culture.

This article explores how custom clothing can be effectively utilized for branding and team building. Read on!

The Power Of Branding Through Custom Clothing

Custom clothing plays a pivotal role in promoting and boosting company branding in several key areas. It serves as a strategic tool for enhancing brand visibility, creating a consistent corporate identity.

Here’s a closer look at how custom clothing can be effectively used for company branding:

  • Enhanced Brand Visibility And Awareness

Employees wearing custom clothing, like shirts by Tee Junction and similar creators, essentially become walking billboards for the company. This increases brand exposure as they wear these clothes in various settings—within the office, during client meetings, or at public events.

Custom clothing ensures that employees present a consistent and unified brand image. This is key in establishing brand recognition and recall among customers and the general public.

  • Professionalism And Reliability

Custom clothing can help in projecting a professional business image. This is particularly important in customer-facing roles where first impressions matter.

Moreover, the quality of the custom clothing can reflect the company’s attention to detail and commitment to quality, which in turn reinforces the brand’s values and standards.

  • Marketing And Promotional Tool

Custom clothing can be integrated into marketing campaigns, especially during corporate events, trade shows, and conferences, to make a lasting impression. Meanwhile, offering branded clothing as merchandise can extend brand reach. When customers wear this merchandise, they further promote the brand to a wider audience.

  • Distinctive Brand Identity

The ability to customize clothing allows a company to stand out. Unique designs and logos make the brand easily identifiable and memorable. To add, custom clothing can be designed to align with the company’s brand messaging and values, ensuring a consistent and authentic brand representation.

  • Social Media Impact

In the era of social media, custom clothing can be a powerful tool. Employees and customers wearing branded clothing can share their pictures online, enhancing online brand presence. Furthermore, collaborating with influencers or brand ambassadors who wear and promote custom clothing can significantly extend brand reach and credibility.

Fostering Team Spirit And Unity

Custom clothing is a strategy that goes beyond mere aesthetics. It can also bolster the dynamics and cohesion of a team. Here’s how:

  • Fostering A Sense Of Unity And Belonging

When team members wear custom clothing, it creates a sense of shared identity. This helps in building a stronger team as members feel a part of something larger than themselves.

Custom clothing can also bridge gaps between different departments or hierarchies within a company. It promotes a sense of equality, making everyone feel valued and part of the team.

  • Enhancing Team Spirit

Wearing the same clothing acts as a visual symbol of unity and teamwork. It’s a constant reminder that each member is working towards common goals and objectives. Moreover, custom clothing can serve as a morale booster. When team members wear apparel they’re proud of, it can enhance their sense of pride in their team and work.

  • Creating A Collaborative Culture

The process of designing and selecting custom clothing can itself be a team-building exercise. It allows team members to collaborate, share opinions, and make collective decisions. Also, by wearing similar clothing, perceived barriers between different levels of staff can be reduced. This encourages more open communication and collaboration across the organization.

  • Building Brand Loyalty And Alignment

Custom clothing can reinforce the company’s values and culture. When team members wear clothing that reflects these values, it helps in aligning their actions and attitudes with the company’s ethos.

What’s more, employees wearing branded clothing become ambassadors of the company. This role can instil a sense of responsibility and loyalty towards the company, strengthening the team’s commitment to the brand’s success.

  • Encouraging Team Participation And Engagement

For team-building events, specific custom clothing can be created. This not only adds fun to the event but also encourages participation and a sense of camaraderie. Custom clothing can also be used as a form of recognition and reward for team achievements, further motivating team members and reinforcing a positive team culture.

Practical Considerations

When leveraging custom clothing for branding and team building, certain considerations play a crucial role in ensuring the success of this strategy. These include:

  • Comfort And Practicality: While aesthetics is important, comfort shouldn’t be compromised. Choosing the right fabric and fit that suit the diverse needs of the team is crucial.
  • Inclusivity In Design: Designs should be inclusive, considering various body types and personal preferences. Offering a range of options, such as t-shirts, hoodies, or caps, can ensure that everyone finds something they’re comfortable wearing.
  • Sustainability: Opting for eco-friendly materials and ethical manufacturing practices can further enhance the brand’s image, especially among environmentally conscious consumers.

Conclusion

Custom clothing is a multifaceted tool in the arsenal of corporate strategy. It doesn’t just create a uniform look but is also a strategic approach to enhance brand visibility, foster a positive work culture, and build a cohesive team. By carefully considering design, comfort, and inclusivity, organizations can harness the full potential of custom clothing for branding and team building.

businessman handshake for teamwork of business merger and acquisition

A Multifaceted Entrepreneur: Chad Pinter

Western Milling is a company devoted to the legacy of its Founder, Otto Kruse, and his motto of ‘Know thy customer and strive for their success’. As CEO of the company, Chad Pinter leads his team in relentless pursuit of customer success – the mission being to become the leading and most diverse agriculturally-based nutrient solutions business in western USA from its headquarters in California. Well on the way to this being the case, Chad’s hard work hasn’t gone unnoticed.

Having spent 16 years at the company, Chad has only spent a short amount of time in his current leadership role, but he has already left an incredible impression on us, making him stand out as our Animal / Human Plant Nutrition CEO of the Year 2023 – Midwest USA. We speak to Chad to learn more about Western Milling and his successful career to date.

With next-level expertise and operational efficiency, Western Milling delivers bespoke animal, people, and plant nutrition resources. With a core focus on innovation, performance, and relationships, the company’s team of industry professionals are diligent and dedicated when it comes to meeting the needs of their customers.

And they believe strongly in Otto Kruse’s passion for providing quality feeds to ensure the health of animals. As such, the team develops some of the most innovative and nutritional feeds on the market today in an extensive product portfolio that is distributed through trusted retailers. This range includes dairy, broiler, layer, hog, and cattle feeds with more than 1,700 active formulas, varying from textured and pelleted feeds, extruded feeds, base mineral mixes, flaked grain, and commodities.

In addition, the company’s diverse offering extends to agribusiness products, such as soil amendments, planting seeds, fertilizers, and other speciality products to help farmers maximize their investments year on year. It also delivers support services in trucking, rail, and merchandising, bringing creative solutions to customers through an integrated approach. And it doesn’t end there, for Western Milling also provides private label programs, alongside having co-manufacturing capabilities to help its customers optimize their supply chain.

Western Milling’s scope of services and products is vast and outstanding – So, what is Chad Pinter’s role in all this? “I’ve been with the company for 16 years,” he begins. “We sold the company in 2022, so a year and a half ago, I stepped into the CEO role in that transition. This makes me responsible for all operations, strategy, execution, and financial returns.”

He continues, “I’m not a micromanager. The intention is to empower the employees. Highly skilled employees do not want to be micromanaged. If you get good people, give them the authority and let them go – but within provided boundaries that support the company mission and goals. It’s important to be clear on what the expectations are, the desired outcomes are, and give autonomy within that for people to execute. I expect there to be strong communication with me, their teams, and with their peers. I don’t  need to be involved in every meeting or every discussion. I follow up more as a leader and director as opposed to an authoritarian figure.”

 

“I really want to attract and keep people that are forward-thinking, open-minded, strong communicators that want to grow and have a curiosity mindset. I think that curiosity and open-mindedness allows people to continue to adapt into evolving markets.”

 

Indeed, Chad is keen to praise those who are on his team, delighting in the fact that the company’s turnover rate for salaried employees is less than 5%. A key contributor, Chad believes, is the company’s growth mindset, with a strong focus on helping its people move forward and evolve both professionally and personally, and therefore enabling the business to do the same, continuously improving with each passing day.

With regard to his own career, Chad spent the first 10 years working in financial roles. He graduated in Finance from the University of Iowa, before becoming an accountant in 1994 and working in various other accounting and finance roles. Next, he moved into a corporate controller role in 2002, and then joined Western Milling in 2007. During his 16 years spent at Western Milling, Chad has been in a variety of  roles in corporate management including the VP of Corporate Development, VP of Sales, CFO, COO, and his current role of CEO. He also has significant experience in board roles, currently sitting on boards for different companies in the non-profit and profit sectors.  Chad credits his multifunctional experience as a key element in his success.

Crucial over the years to Chad’s career success has been his access to mentorship, guided by individuals whom he feels have had a key positive influence on his professional growth. “I feel like my pathway has been enabled by so many people, and as I’ve collected those experiences and relationships, there is just a lot of value in them.” One key piece of advice that Chad received early on from one of his mentors was to “take as many accounting classes as you can stand and take all the psychology classes that are offered because if you understand the numbers and understand people, you have a great chance at success.”

While he is grateful for the mentorship he received, Chad also found that back in the early days of his career, many professionals generally weren’t open to change and improvement. “When I was in my twenties, I was on a very accelerated growth path, but I was hearing people further in their careers blocking things, and they didn’t have good logic for blocking it. It’s almost as if they just didn’t want to do it because of fear of failure or lack of desire or care for the business. They would come up with reasons from the past why it wouldn’t work today or all the things that could go wrong rather than what could go right and the benefits of the change, so I really try to work hard to be growth-minded and have people around me or on my team that are that type.”

As CEO of Western Milling, Chad welcomes change with open arms, so the company can move forward with the times and ensure it continues to offer only the very best for all its customers, while also preparing and responding as needed for any challenges that arise. He says, “There’s a constant shifting landscape around which products are making money and not making money. We have a rigorous risk management practice around exposure, whether that’s on the supply chain side or the customer. We spend a lot of time gathering information on both of those ends.”

“We’re deeply integrated into our customers’ lives,” he goes on to say. “Our salespeople are very active and involved in the community. Many of our salespeople come from that community to begin with, so they were born into it, and then naturally stay in it. Therefore, we have a lot of ties to our customer base that allows us to continue to learn. Then, on the supply chain side, we have a deep experience in that, too. By monitoring both the supply chain and the customer, it allows us to identify when there’s an opportunity in an area, whether that originated positively or negatively, so we can opportunity solve through it.”

 

“I fit my Aquarius sign where it’s a pretty global, eclectic mix in interest and big picture desire – I have a big picture view and desire to explore and move forward without bounds. I enjoy the possibilities and moving on them.”

 

Ultimately, Chad’s ambition and passion really shine through – not only within his CEO role at Western Milling, but he has other business ventures he is highly excited about too, describing himself as a general businessperson, communicator, and multifaceted entrepreneur. “We’re selling a pet food business right now, which should close next month,” he shares. “It’s not part of the company I work for [Western Milling]; I’m an owner in it and was formerly the President of it as well. I have a number of different things I have passion or interest in and invest in things that match those. One example is an interest in a men’s and women’s tuxedo clothing line named Polarity. My significant other is a fashionista and she designs the women’s tuxedos.”

He adds, “I love to travel because I think travel creates joy and perspective that lead to creativity. It breaks a person out of the box that they may be in today and gives them another perspective where they can absorb, learn, and grow. It creates ideas because different parts of the world function differently day-to-day and commerce is different, so to observe that and understand creates new possibilities.”

 

For business enquiries, contact Chad Pinter from Western Milling via email –  [email protected] or on their website –www.westernmilling.com and LinkedIn – www.linkedin.com/in/chad-pinter-62278a1a7

Chad Tux
Chad Pinter

Why Does Your Business Need an IT Partner

Strategic IT Partnership: Elevating Business Excellence

In today’s business world, incorporating IT technology into your operations is crucial for sustained growth and excellence in your industry. Understanding how aligning your business with advanced IT services fosters adaptability to evolving technological trends and dynamic customer demands is essential.

Operating a business without an IT partner in today’s fast-paced world is outdated and can lead to falling behind in the competitive modern market. Satya Nadela, Microsoft’s CEO, emphasized the importance of having an IT partner, stating, “Every company is now a software company.”

Statistical Shifts and Strategic Positioning

In 2022, 82% of B2B business leaders planned to add to their roster of partners. At the same time, nearly 70% planned to boost their channel program budgets.

These statistics highlight the crucial role a skilled IT partner plays in establishing a seamless connection between your business and the discerning global audience.

Within the confines of this discourse, we delve into the imperative of why your business demands the strategic alliance with an IT partner. Unveiling the multifaceted contributions of these services across various facets of your enterprise, this exploration culminates in a lucid understanding of the indispensability of an IT Partner for the dynamic fortification and advancement of your business.

Unveiling the Business Boost: The IT Partner Advantage

There are a lot of advantages in engaging an IT partner in your business. Some of the most important benefits are given below:

Strategic Insights, Guidance, and Recommendations

A. Adapting to Daily Technological Evolution

In an era of rapid technological evolution, the role of an IT partner becomes pivotal. Their expertise in understanding the intricacies of ever-changing technology trends ensures that your business stays ahead. An IT expert doesn’t just follow trends; they strategically incorporate innovations tailored to the specific market dynamics of your industry.

B. Engaging with Your Target Audience: Profound Market Insights

Beyond technology, an IT partner excels in understanding and engaging your target audience. Their ability to provide profound insights into market dynamics goes beyond conventional strategies. This partnership is a collaborative effort in predicting future trends, allowing for proactive adjustments and optimal IT strategies to enhance your business’s competitive edge.

Ensuring Business Fortification: The Cybersecurity Shield

A. Daily Vigilance Against Cyber Crimes and Hacking

Cybersecurity is a continuous battle, and an IT partner serves as a vigilant guardian. Their proactive approach to countering cyber threats ensures that your business remains secure in an ever-evolving digital landscape. This level of daily vigilance is vital for safeguarding your data and maintaining the trust of your clients.

B. Effortless Data Recovery: The IT Partner’s Security Arsenal

In the unfortunate event of a cyber breach, an IT partner’s security arsenal includes not only preventive measures but also a robust plan for effortless data recovery. Recent surveys indicate a surge in cyber crimes, making the ability to recover data a critical component of your business’s resilience against unforeseen challenges.

Steady Business Growth Through IT Expertise

A. Efficient Tech Solutions: Less Effort, Better Results

Collaborating with an IT expert transcends conventional support. Their role extends to providing efficient tech solutions that optimize your business processes. This isn’t merely about keeping up; it’s about achieving better results with streamlined effort and resource utilization.

B. Reducing Downtime: Averting Business Breakdowns

An IT partner goes beyond ensuring efficiency; they actively contribute to business continuity by minimizing downtime. Rapid identification and resolution of issues not only enhance operational efficiency but also ensure customer satisfaction and loyalty.

Strategic Cost Savings and Financial Efficiency

A. Meticulous IT Budget Planning and Management

IT services can reduce expenditures in different ways.With an IT partner, your IT budget will be carefully planned and managed, and with the proper management of the IT services, you won’t need to pay for the packages and upgrades that are not required further, and you can run your goal-oriented business with ease.

B. Cost-Effective Solutions Tailored to Your Business Needs

An IT expert can provide a cost-effective solution for any issue as they know the customer’s needs and the latest technologies. It can reduce your costs as with the IT partner in the business; you don’t need to pay for the IT team to manage your business.

Seamless Scalability for Evolving Business Needs

A. Managed IT Services: Meeting New Project Demands

As your business grows, your IT services need to evolve. With the managed IT services, you can meet the demands and requirements of your new project. Your IT partner can scale the IT services according to needs and demands, which saves the cost of hiring a new employee for a short contract.

B. Efficient Project Management Without Personnel Hiring

Also, it is a very complicated and challenging job to hire a new employee. Your IT partner can manage the needs of the new project without any personnel hiring.

The Reassurance of IT Excellence: A Strategic Conclusion

An IT partner can help you stay calm, productive, and competitive in your industry. You can rely on your IT partner and feel that your business is risk-free in IT aspects. An IT expert also makes you more competitive in the market by using expertise and knowledge of the trending technologies and IT market demands.

IT partners provide you with 24/7 support, ensuring that your business is running smoothly and is protected. Collaborating with an IT expert as a partner in your company can contribute to effective business management and growth.

Author

Boris Shiklo

The CTO at ScienceSoft since 2003, Boris has established high quality standards for software solutions and IT services. Boris ensures that ScienceSoft’s programming competencies are relevant to ever-evolving needs of businesses. Under his management, ScienceSoft has successfully started data science, big data, and IoT technology directions. Boris authored and co-authored more than 50 publications.

A confident team leader leading a business meeting

Leading from the Top for Lasting Change

By Sharmla Chetty, CEO of Duke Corporate Education

Pushes for inclusivity must start from the top.

Gathering voices from a multitude of backgrounds might seem like progress, but it’s fruitless unless these voices are truly heard. Inclusivity lies in not just bringing diverse voices together but in actively encouraging and amplifying them. This is crucial in fostering equity within organisations, a journey that faced setbacks during the pandemic.

Women and black and Asian ethnic groups experienced a disproportionate impact during the pandemic, which in turn has brought diversity back into sharp focus. While having diverse teams is a good starting point, organisations need to make a sincere commitment to fostering deeper inclusion to break free from repeating historical errors.

To ensure that diversity makes a meaningful impact on both organisations and society at large, boards must go beyond mere representation. They need to actively involve and engage individuals within their teams, embracing the multitude of viewpoints, perspectives, and styles within diverse teams. Teams actively pushing for diversity and inclusivity see 35% more productivity, and a study from LinkedIn shows that 60% of survey respondents say that inclusivity within their team has contributed to their success.

Research from Gallup shows that despite 97% of HR leaders reporting that their organisation has made changes to improve DEI, many employees feel differently, with only 37% of employees strongly agreeing that their employer has made changes to improve DEI in their workplace. This signals that although some advancements are being made, there is still considerable room for improving DEI efforts to create impactful changes from the top. Inclusive leadership is the key to making diversity matter because diversity without inclusivity is detrimental to an organisation’s success.

 

5 Steps Closer to Inclusion

Boards should follow these five steps to ensure inclusion is embedded into the fabric of their organisation:

 

  1. Understanding Inclusion

The first step in your journey to DEI improvement is having a clear understanding of what inclusion actually means. Without that understanding, your goal will be near impossible. Build a foundation based on one cohesive definition that everyone in the organisation understands.

 

  1. Strategy Alignment

Boards must ensure that their business strategy aligns with their inclusivity goals. They should provide direction that helps drive their strategies towards inclusivity, while also ensuring they amplify inclusivity within both the boardrooms and throughout the company.

 

  1. Recruit Inclusive Leaders

Hiring individuals who exhibit inclusive characteristics is crucial to the success of reaching your inclusivity goals. These leaders build trust and create environments that foster openness and safety, allowing different perspectives to be explored advantageously.

 

  1. Measuring Inclusivity

The progress of inclusivity within your organisation should be measured. This can be done by monitoring retention and keeping track of representation levels to ensure diverse teams are having their voices amplified and involved in all parts of the business. Boards should monitor from an organisational standpoint, while leaders and managers should collect and analyse data within their departments.

 

  1. Perception

The way external stakeholders perceive the company is important. Boards should ask leaders to assess how customers, suppliers, and the public view the company, as well as ensure leaders within the company view the organisation through an inclusive lens, specifically from multiple perspectives. Boards should get opinions from external parties and help leaders continue building their inclusive brand.

 

Allyship

Being an ally is the most crucial piece of being inclusive. Everyone benefits from the sense of inclusion which comes from valuing uniqueness, being socially connected, and treating others fairly. Creating an inclusive environment is more difficult than creating a diverse one, so relying on only recruitment demographics isn’t enough.

Effective allyship means those with privilege can advocate for marginalised voices who are often relegated to the background. By educating themselves on their privileges, allies can recognise and address unconscious biases to ensure all voices are heard equally. It’s important to remember that allyship is about action and therefore involves a commitment to ongoing self-education and collaboration with colleagues from different backgrounds.

Boards need to be their organisation’s biggest ally. They are the ones driving inclusivity from the top and are the backbone of change throughout their organisation. Following the five steps outlined above and staying committed to improving will in turn pave the way for a more diverse and inclusive future.

Office Culture

Creating a Thriving Learning Culture: Four Obstacles to Overcome

Embracing a learning culture in the workplace is a great way to help your business and people thrive. When companies get this right, it is estimated they are 92% more likely to be innovative and 37% more productive.

That said, there is no hiding that implementing organisational change by bringing in a learning culture can come with its challenges. For instance, you may find that some employees resist change at first, which can slow down the process and damage the team development.

As a manager or business owner, what are the barriers you might face when trying to create a thriving learning culture?

Here, Dominic Fitch, Head of Creative Change at team development specialist: Impact, identifies some of the frequent obstacles to employees’ personal and professional growth while highlighting ways to overcome these hurdles.  

 

Lack of support from leaders and managers

For team members to appreciate the importance of continuous learning and professional development, it is crucial for managers and seniors to support them throughout the journey.

Dominic Fitch, Head of Creative Change at Impact, explains: “The reality is that, if there’s a lack of guidance from leaders, employees might fail to understand the benefits of merging work-related learning opportunities with their day-to-day tasks.

“Continuous learning is a fundamental aspect of work life, as it allows people to enhance their skills and improve both on a personal and professional level. But without adequate mentorship, team members may be missing out on this opportunity, which in turn can hinder the efficiency and productivity of your business.

“So, leaders and managers should always act as role models, promoting the advantages of continuous learning and taking time to allocate resources for training programmes.

“What’s more, you may want to consider being involved in learning and training sessions, too. By showing active and genuine interest in the development of your team, you can empower your employees to invest in their growth and foster a successful learning culture.”

 

Limited time

53% of workers in the UK feel overworked due to packed schedules and hefty workloads.

With so many tasks to carry out during their shift, many employees often have little time to focus on learning activities and professional development. And especially with strict deadlines and targets to meet on a daily basis, they might feel obliged to prioritise scheduled work over training opportunities.

Of course, it may not always be possible to postpone urgent tasks, but it’s the manager’s responsibility to find ways to ensure their team enjoys much-needed learning opportunities. One solution could be to reserve specific slots each week for training purposes only.

This means that, say, on a Wednesday morning, employees will know that they are booked for learning activities. This way, they can confidently concentrate on enhancing their competencies without having to worry about neglecting other impeding tasks.

 

Poor or insufficient resources

Another significant barrier to creating an effective learning culture is not having access to valuable resources. Without the relevant tools, books, documents, seminars, or webinars, what are your people actually going to learn?

The truth is that unless your employees are equipped with adequate training materials, they will find it challenging to keep up with innovations and industry trends. As well as limiting their potential and skills, this can have a negative impact on the company’s overall performance.

To nip the problem in the bud, invest in tailored learning resources, including training platforms, digital libraries, and online courses.

Yes, it’s no quick fix, and you may have to set some money aside to build your portfolio of resources. But don’t worry – it will be worth it in the long run. In fact, it will provide you with an increasingly skilled team that can drive your organisation forward.

 

Resistance to new processes and change

Let’s be honest – not everybody has a soft spot for change. 62% of UK employees, in fact, admit they don’t like leaving their comfort zone.

Once people are familiar with existing processes and are happy with their current knowledge, they can be reluctant to adopt different tools or methods. This could be because they worry about failing or being unable to keep up. Whatever the reason, if your team is resistant to change, it can threaten the smooth introduction of new training activities.

So, what can you do to prevent this? The best medicine is clear communication. As a leader, it’s important that you guide your people through new initiatives, underlining how these changes will benefit them in the short and long term.

Also, encourage your team to share any concerns and address them individually. This will allow you to highlight the advantages of your new learning culture and, in turn, help reduce people’s worries and scepticism.    

7 Tips To Help Prepare Your Business For An Acquisition

7 Tips To Help Prepare Your Business For An Acquisition

Arranging a merger and acquisition (or ‘M&A’) can require a substantial amount of planning. The more dynamic or complex your business and all of its assets, the more documentation and records are likely to be involved in your M&A negotiations. So how do you make sure that you’ve collated all the information that you need to fulfil your duty of disclosure to prospective buyers?

We’ll be answering this question today by highlighting seven key factors to keep in mind when preparing your business for a merger or acquisition.

1. Prepare your company’s financial statements

Your company’s financial health is typically the first assessment that’s made by buyers when conducting due diligence. Business owners are advised to evaluate their company’s recorded assets and liabilities virtually as soon as they’re looking to schedule an M&A deal. This includes everything from your business accounts to your business insurance.

Your priority should be to reduce your overall liabilities wherever possible. You can balance your liabilities to assets (L/A) ratio by increasing the costs of your products or services. If you’d prefer not to amend your L/A ratio using these methods, however, then you can present your buyers with your debt-to-assets ratio as it currently stands. It’s not uncommon for companies preparing for an M&A to fund the deal with their debt or with equity capital rather than with revenue.

2. Develop your executive summary

If you have been restructuring to prepare for an M&A, it’s imperative you amend your company’s executive summary. This is primarily to ensure that buyers are provided with the most accurate information regarding the size and structure of your business.

Providing a concise and accurate executive summary can also help boost your own preparedness as a seller. Prospective buyers are more likely to meet you halfway in M&A negotiations if they see you’re fully aware of the value of your company. And business owners who aren’t fully aware of the size or structure of their enterprise naturally can’t have complete confidence in their own company valuations.

3. Consider your buyer’s due diligence requirements

Alongside evaluating your finances and organisational structure, business owners are also encouraged to consider what other facets of their business would be relevant to prospective buyers when conducting their own due diligence. Put yourself in the shoes of your ideal buyer to better understand what information you should gather to help them make an informed decision.

You’ll want to ensure that all these technical assets have been tested and tagged, and that all fittings and fixed appliances have been serviced. It’s also worth investing in professional cleaning services so that your properties look well-presented.

4. Secure experienced legal and financial teams

Another element of preparing for your buyer’s due diligence is ensuring that all M&A contracts and all other documentation are prepared, easily legible, and available upon your buyer’s request. To make sure that all required documents are ready to be presented to prospective buyers, business owners must lean on experienced legal and financial professionals.

There are a plethora of moving parts to any business acquisition, and all parties involved will need to practice a certain level of professionalism as well as tact and discretion. So you want to make sure that all the figures in the negotiating room with you know exactly what language to use and what’s required of them. Having these trusted advisors at your disposal may also allow you to negotiate a higher sale price for your enterprise.

5. Seek out multiple bidders or interested parties

It’s preferable for business owners to secure multiple interested bidders for any M&A transaction. Having multiple interested parties places you in a strong position as a seller, as you will be more likely to enjoy fair and reasonable negotiations with your buyers.

Be sure to weigh up all the conditions of sale outlined by all interested buyers when making your final decision as a seller. You want to make sure that your buyer can provide conditions of sale that align with your goals for the acquisition, though more on this later.

6. Ensure support amongst key stakeholders

There’s every possibility that legacy clients or larger clients take their business following the finalisation of your M&A deal. And if your buyers suspect that they’ve paid too much for your business, it can damage your reputation as a business owner and perhaps even hurt your company and its staff following the acquisition.

That’s why it’s imperative for business owners to secure the support of all their investors, clients, and other stakeholders prior to an M&A. Make sure that you maintain open lines of communication with all these invested figures, and ensure that their own needs will continue to be met once the deal’s been finalised.

7. Communicate your goals for the M&A deal

It’s not just your own goals as a business owner that need to be considered. You also need to factor in your investors’ rights to continue receiving dividends, your clients’ rights to continue receiving a certain standard of work and service, and your employees’ rights to keep their positions at your company.

All of these elements are valid stipulations to include in the contract or conditions of your company’s acquisition – especially if you’re planning a cross-border M&A. And whilst some prospective buyers may push back on some of your conditions, others may not. So from here, it’s all about finding a buyer that’s happy to pay the right price for your enterprise and are also happy to respect your own goals as the previous owner of the business.

~

With all these considerations made, business owners can be rest assured that they’ve ticked all necessary boxes when preparing for an upcoming merger or acquisition. But you can never be too prepared, so be sure to revisit any documentation or amend your executive summary deck if you feel the need to do so.

What is Visitor-level Call Tracking?

What is visitor-level call tracking?

In various industries today, call tracking has fast become one of the most valuable tools for marketers.

That being said, if you’re trying to find the right call tracking system for your business, there are certain features you should consider – one of which is visitor-level call tracking.

In this article, we’ll take you through what visitor-level call tracking is, why it’s important, and what other call tracking features make a platform stand out.

What is visitor-level call tracking?

To understand visitor-level call tracking, let’s first outline how call tracking as a whole works.

This software allows you to monitor every customer call into your business and extract useful data from every interaction.

You can then link these calls to your marketing performance, and see every touchpoint visited by a customer before, during, and after they called.

For standard call tracking platforms, customers who visit your website are assigned a unique phone number that only lasts during their session. Once they leave, this data on their journey ends.

With visitor-level call tracking, however, you can trace the full journeys of customers even if they leave a session on your website and rejoin later on to make a call, for example.

Why is this type of call tracking important?

This type of call tracking is beneficial for a range of reasons:

  • Increased marketing visibility

Visitor-level tracking helps you gain more visibility over your marketing performance. By seeing a customer’s entire journey, as opposed to one part with standard tracking, you can more effectively see the impact of your campaigns on their interactions.

  • Understanding customers better

This software can also reveal crucial insights into customer behaviours since you can analyse why customers leave a session, what they do when they rejoin, and what this indicates about your current marketing funnel.

  • More accurate data

If a customer’s journey ends each time they leave a session, when they rejoin, this could incorrectly reflect in your data as a new customer. With visitor-level tracking, you’ll have accurate data that identifies the same customer in their different sessions.

What other features make a call tracking platform stand out?

Visitor-level call tracking is only one of many expert features that can help you optimise your marketing. Here are some others you should consider when choosing a platform:

  • Speech analytics

This feature allows you to transcribe every customer call and identify important keywords in the phone conversation. This can help you identify key customer enquiries, learn customer behaviours, and better detect valuable leads.

  • Visitor-to-call ratio

This is a feature that compares the number of calls generated by a campaign to the number of website visits. It’s vital for benchmarking performance and seeing the true value of a campaign – for example, having lower website visits but a large portion of those visits converting to a call.

  • Advanced call handling

This gives you more control over how your calls are managed. For instance, you can implement call routing so you never miss a call, provide mailbox options, and incorporate interactive voice responses. These elements help massively improve the customer experience.

Is visitor-call tracking something your business could greatly benefit from?

If so, make sure you find the right call tracking provider to ensure its effective usage, along with various other useful aspects, analytics, and resources to optimise your software experience.

Corporate Party

Unique Corporate Experiences to Thank Your Team

At the end of a productive year and with next year’s blank calendars ready to be filled up, it’s a good time for CEOs and managers to consider new ways to thank their employees. 

While you might be looking forward to hosting a Christmas Party to celebrate shared achievements, unique corporate experiences that bring teams together are another great way to reward staff for a job well done. So, let’s explore the real value of corporate experiences and thanking employees at any time of year.

 

Creating a positive workplace culture 

Most employees are thankful for any company gifts they receive and value the investment their managers make in them. Employees like being appreciated for their dedication, hard work and any team or personal performance goals reached. CEOs who invest in staff and create a people-centric workplace generate a positive company culture. A leader who directs their time and efforts into valuing employees (also known as ‘people enablement’) is recognised by 90% of organisations for being a successful strategy to adopt. This is because rewarding staff enhances productivity and reinforces the positive and healthy workplace culture you’re after. 

Ideally, CEOs should invest their energy, resources and finances into creating a cohesive workforce with colleagues who work well together professionally and are onboard personally. Therefore, instead of giving employees a box of chocolates or a gift voucher, planning team-building activities throughout the year is a far more effective way to build such a culture. 

 

Carefully considering experiences

Consider rewarding employees with thoughtful corporate gift experiences. Perhaps this can be a team-building activity that relates in some way to your business sector, such as tickets to a stadium, sports match or business with a sporting focus. You might want to think about an experience that aligns the creative skills or talents of individuals who work within your company. Arrange a new experience such as a mixed outdoor day of activities, which will naturally encourage teams to work together participating in games they have never tried before. This can become really engaging, whilst also promoting problem-solving skills. In addition to being an entertaining excursion outside the office, team games also spark competitive fun and challenge people to learn new skills.

Alternatively, you can plan a corporate gift for your employees that aligns with a particular focus your company has, such as boosting the mental and physical health of staff with regular exercise. If you are keen advocate of a healthier work-life balance, a health club membership will promote wellbeing and encourage staff to get together in a healthy environment outside of work. This key policy can benefit your business and your employees in the long-term.

 

Being visible and fostering personal connections

Once you have planned a corporate experience, it’s important as the CEO that you attend in person. With the increasing number of hybrid and remote workers in today’s companies, people value knowing they have a visible leader who interacts on a personal level. The act of joining in corporate events demonstrates that you are interested in engaging and socialising with every member of staff in the business.

If you are there in person, you’re also welcoming colleagues to approach you, talk to you and open up personally in a way that virtual meetings don’t allow so easily. Being together physically also creates more memorable shared experiences compared to virtual activities. A corporate event is a great opportunity to bring senior board members together to have a strategic business meeting in an informal and collaborative setting. 

 

Boosting morale and uniting diverse teams

With the UK’s current cost-of-living crisis it is more important than ever to lift your employees’ morale with a gesture of thanks. Corporate experiences are a great way to boost morale between your teams following a busy year. They provide a healthy change of environment and routine from an unbroken schedule of regular work. 

When planning your unique corporate event, be mindful to plan an experience that respects every member of staff and appeals to your diverse workforce. In this way, you’ll bring together colleagues who have a unique set of values, education and backgrounds. As a CEO, your role is to bridge differences, foster relations and build collaboration within your teams. Events that celebrate cultural differences such as insightful speeches or gallery visits can successfully promote interpersonal connections to unite and motivate each and everyone of your employees. When remote work prevails amongst businesses, these ongoing efforts to forge interpersonal connections are more valuable than ever.

 

Planning sustainable corporate experiences

Today’s forward-thinking companies are putting their focus into organising charitable corporate experiences and sustainable initiatives as part of their social responsibility strategies. Depending on where your business is based, check online for any eco-friendly corporate ideas and initiatives that your company might want to join during the year. From volunteering programmes that allow employees to give their time to local causes, to sustainable talks on how your business might reduce its environmental impact, organisations are finding unique ways to give back. These might include voluntary initiatives like beach cleans or litter picking.

Charitable corporate events with ethical values and an environmental conscience are valued by your current and prospective employees. In a report, 52% of workers stated that environmental and social initiatives at work have a significant impact on wellbeing in the workplace with the majority agreeing that volunteering on a regular, fixed basis would enhance their well being. This highlights how employees value businesses with an eco-friendly agenda.

 

Sharing successful events to elevate your reputation

While the corporate event is valuable on the day, if you have taken photos or videos of the event, sharing post-event images and news of the experiences is a great way to promote your business. You can share reviews of the event on company-wide platforms and in communications made across internal and external newsletters for months afterwards.

News of your corporate event is a healthy way to engage with employees and external customers. Sharing details of the event is a good channel to announce changes in your organisation, product launches as well as promoting your company’s positive culture and friendly reputation to prospective employees. Likewise, for candidates applying for new roles in your company, seeing news of your sustainable corporate experiences will appeal. 

 

Corporate experiences can be an impactful way for CEOs to reward staff for their loyalty and hard work while creating a positive company culture. Whether it’s a team-building activity aligned with your business goals, a chance to unite diverse employees, or a sustainable initiative that gives back, shared corporate events lift morale and foster connections. They also enable you to elevate your company’s reputation to a wider audience to attract new business and talent in the process. 

people standing at a green event

Green is the New Glam: If You’re Doing a Corporate Party, Do it Sustainably

by Jeff Dewing, CEO of Cloud

As the holiday season sparkles on the horizon, businesses are gearing up for festive gatherings. Amid the glitz and glamour, there’s a rising awareness that corporate events can shine even brighter with a touch of sustainability.

As the CEO of Cloud, I’ve had the privilege of spearheading Cloudfest—an annual event that in September 2023 managed to pull off a truly sustainable day festival that ticked all the right boxes across Environment, Social and Governance (ESG).

In the wake of our success and learnings, I’m eager to share insights on the critical role sustainable event planning plays in the business world, especially in the face of the climate crisis.

 

Sustainable event planning: a necessity, not a hurdle

In a world grappling with environmental challenges, the need for sustainable event planning has never been more apparent. The key, however, is not to stop events altogether but to approach them with a heightened sense of consciousness. Cloudfest proved that celebrations can thrive without compromising our commitment to the planet.

Weaving sustainability into corporate events comes with its set of challenges and opportunities. It’s not just about finding eco-friendly alternatives; it’s about reshaping the very fabric of event planning. From meticulous research on local, sustainable suppliers to challenging conventional choices, the process requires a shift in mindset. Yet, within these challenges lie opportunities for innovation, creativity, and a positive environmental impact.

 

Positive impact on morale and culture: beyond green choices

One of the most profound outcomes of Cloudfest was the palpable boost in employee morale and the transformation of our corporate culture. Eco-conscious choices weren’t just about reducing our carbon footprint; they became a shared value that brought our team together. Employees felt proud to be part of an organisation that prioritised environmental responsibility, creating a ripple effect that extends far beyond the event.

We can’t forget that work gatherings serve as a valuable opportunity to foster connections with your employees, emphasising the significance of the ‘S’ in ESG – social responsibility. It’s crucial to prioritise employee well-being and ensure they have an enjoyable experience. During Cloudfest, we offered a diverse array of wellness activities, ranging from soothing gong baths and invigorating yoga sessions to adrenaline-pumping adventures like axe throwing and glass walking.

 

Key considerations for a green event: 

After the successful coordination of Cloudfest, an event attended by approximately 200 team members, where we managed to produce only three waste bags in total, I would like to share some essential factors to consider when organising an environmentally-conscious event:

 

  1. Plan ahead

 The journey to Cloudfest’s sustainability began a year before the event, with the Head of ESG spearheading the mission. A collaborative effort with the event organiser involved brainstorming sustainable alternatives, researching local suppliers, and challenging the status quo.

 

  1. Sustainable transport:

Efficient transport to and from the event was a cornerstone of Cloudfest’s sustainability strategy. We opted for hybrid coaches from our Colchester office as our eco-friendly mode of transportation, and those travelling from overseas adjusted their schedules and meetings to align with their UK visit, reducing unnecessary travel at a later date.

 

  1. Eco-chic venue: where style meets sustainability

 Choosing a venue aligned with low environmental impact is a strategic move. We chose Home Farm Glamping in Elstree as it not only provided a picturesque backdrop but also championed sustainable development goals. From recycled toilet tissue to reclaimed scaffold plank benches, every element echoed a commitment to the environment.

 

  1. Think creatively

 Use sustainable creativity with your props and decorations. A single Cloudfest logo served dual purposes, and planters showcased recycled sunflowers, adding a touch of eco-glamour. The solar-powered stage was a beacon of sustainable innovation, soaking up the sun during the day to illuminate the night.

 

  1. Sustainable corporate giveaways

 Corporate events often come with a barrage of giveaways and branded merch you’ll likely never use again, but Cloudfest embraced minimalism. Organic Fairtrade cotton T-shirts and lanyards made from recycled plastic bottles showcased a commitment to ethical fashion and waste reduction. There was also a drop off point for lanyards at the end of the event for people who didn’t want to re-use them. No-rush shipping ensured sustainable delivery practices.

 

  1. Waste not, want not: a circular approach to event waste

 Waste management took centre stage at Cloudfest, with a commitment to reusable plates and cups. Food waste, a significant challenge due to hot weather, was meticulously separated for anaerobic digestion. The result? Only 3 small bags of general waste, a fraction of the norm.

 

  1. Plant-powered choices

Food choices played a crucial role in Cloudfest’s sustainability narrative. Abundant vegetarian and plant-based options were more than just a culinary choice—they were an environmental statement. Attendees learned the environmental benefits of opting for a veggie burger, promoting conscious consumption without judgment.

 

Crafting sustainable legacies 

As businesses navigate the ever-changing landscape, it’s crucial to recognise the power of events in shaping not just our present, but our future. Sustainable event planning is more than a trend; it’s a responsibility and an opportunity to craft legacies that align with our values.

Incorporating lessons from Cloudfest, I urge fellow leaders and event planners to embrace the challenges and opportunities of sustainability. It’s not just about making green choices; it’s about reimagining events as platforms for positive change. By doing so, we not only contribute to a healthier planet but also foster a corporate culture that values conscious choices and collective well-being.

How to Handle a Truck Accident Within Your Fleet

When you’re in charge of a fleet, one of the things you must prepare for is the possibility of accidents. There are many common mistakes that trucking companies and fleet managers can potentially make.

 

The best way to handle a truck accident within your fleet is through prevention. Trucking accidents are expensive, plus they lead to a loss of productivity that can negatively impact your bottom line. Read on to find out what you can do to minimize the effects of a truck accident in your fleet. 

Promote Safety Culture

One of the first things you need to do is make safety a top priority of your company’s culture. When safety is put in the forefront, truckers will take the right steps to be more cautious and drive safely.

 

Proper Training

Since the trucking industry has grown exponentially, there is a huge demand for drivers. While you may have some seasoned truckers in your fleet, you may also have some newer ones that have less experience. Ideally, providing training for all of them, including refresher courses for the drivers who have been in this profession for a while, could help them learn to avoid accidents. 

Follow the Federal Rules for Scheduling

Safe scheduling involves ensuring you do not put your truck drivers on the road for longer than federally mandated. Manage the fleet schedule for more efficient and safer freight transportation. 

Rely on Technology

Technology can help you to better manage your fleet. You’ll be able to see that your drivers are compliant and following basic safety. With vehicle management solutions, you can check in on driving behavior and issue warnings to any that are breaking the rules. You’ll be able to stay ahead of the game to avoid trucking accidents in the first place. 

Teach Your Truck Drivers How to Handle Accidents

While these preventative measures should reduce the chances for accidents, they are not a cure-all. Every truck driver in your fleet should be prepared and know how to handle an accident. Your trucking insurance will provide coverage, though doing things the right way can help in terms of liability.

 

You may want to install in-vehicle cameras that can get an objective view of what happened. Often, truck driver error is cited in accidents, though in many instances, the driver of a passenger vehicle may have maneuvered in such a way that your driver couldn’t avoid the crash.

 

Each vehicle in your fleet should have the right road safety and emergency kits. Your truckers should also have an accident report form and know how to fill it out. If a truck accident occurs, the truck drivers in your fleet should know the steps to take.

 

They must stop and turn on the hazard lights before getting out of the vehicle. They should also check themselves as well as the drivers and passengers of other involved vehicles for injuries. Reporting it to 911 is essential as is getting in touch with the truck insurance company.

 

If one of the vehicles in your fleet was in an accident, you should seek Nashville tractor-trailer collision legal help immediately. 

Have Some Extra Cash to Spend? Here Are 5 Investments to Consider

Many of us tend to worry about the present. We think about all the plans we have for the coming week, all the work we need to get done today, and how we are going to make time for important tasks like grocery shopping. Often, the result is that we do not think about our long-term future, especially financially. Maybe you have a 401k through your job, so you think you will be all set once retirement comes around.

Trying to grow your savings is never a bad idea. Whether you are planning for retirement, saving up for a big vacation, or just increasing the size of your safety net, it is wise to come up with a strategy that secures your financial outlook.

If you have saved up a good chunk of cash, then you may be able to invest it so that you can earn even more going forward. Here are five opportunities you should consider if you have some extra capital and want to invest it in future income.

Rental Properties

The rental market has been growing for a long time. The last few generations are hesitant to get locked down with a mortgage, so they will often look for places to rent instead. Rental properties can also be used as vacation accommodations if it is in a location with lots of tourists. Either way, investing in a rental property could create strong passive income. With your cash reserves, you could afford a down payment with a debt-service coverage ratio loan that will fund the purchase. Then, you can use your research and skills to land a great real estate deal on a property. Once the property is ready for tenants, you can hire a property management firm to handle the logistics while you enjoy passive income from rental payments.

Mutual Funds

One of the most popular and low-risk investment options on the market is getting involved in mutual funds. Mutual funds are a large pool of resources from many investors that are used to build a diverse portfolio. The more diverse the investments are, the lower the risk to the investors. Generally, mutual fund investors let brokers take care of their money as they wait for long-term returns. Mutual funds are not a get-rich-quick scheme because they take time to build a lot of wealth, so this is a good strategy for growing your retirement savings. Plus, you don’t have to worry about doing the trade research yourself.

Buy a Business

A fully operational business may be able to make you money if you have enough cash to secure a business loan for purchasing a company. For example, if you notice a popular restaurant for sale in Calgary, Alberta and you have a background in the service industry or business, you could buy that restaurant and enjoy the profits. Sometimes, previous owners are planning to retire, so they will sell their business to someone who can take it forward. Other times, a company has been mismanaged and the owner puts it up for sale in hopes of making some money and turning it over to someone who can turn things around.

Get Into Day Trading

If you love the excitement of a fluctuating stock market, then day trading may be a fun and lucrative hobby to get into. First, you should know that it is not easy. Predicting the rises and falls of a particular stock can be incredibly challenging. You have to understand how markets work, analyze patterns from the past, and bet on predicted outcomes. Also, the market can shift fast, and not paying attention for just a few hours could significantly affect the value of a trade. Even so, if you have some money to invest, day trading on platforms you can access from your phone could be a good way to make some extra money, as long as you know what you are doing.

Certificate of Deposit

When you have money saved up, it often sits in a savings account. Most savings accounts have very low interest rates, so your thousands and thousands of dollars may only yield a few bucks every year. A better place to put some of that money would be a certificate of deposit (CD). CDs are like temporary savings accounts with much higher interest rates. You can put your money into them for six months, a year, or five years, depending on the firm you use. As long as you do not withdraw any money from the CD over the time period, you will earn guaranteed returns at the agreed-upon rate. It’ll earn you much more money than a generic savings account would at the end of the term.

When Money Makes Money

The main source of money for most people is a job. However, investments can be just as beneficial if not even more so. Or, you could just turn some of your savings into supplemental income. It all depends on the investment opportunity that you choose. Buying a business or real estate property can yield you some profits for a long time. Investing in a CD or day trading will let you earn profits over a shorter period. Each strategy uses the money you have to make more money, preparing you for a brighter financial future.