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First-Person Data: Collect and Protect

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Compliance takes a leading role in marketing strategy

The accelerating use of Generative AI that’s occurring in business entities large and small has sparked privacy concerns in data management and IT security teams, marketing C-Suites and the offices of corporate governance/compliance attorneys. Whether the leadership at your organization calls itself progressive or conservative, it’s absolutely necessary to develop data implementation and risk management protocols, and create a crisis management public relations strategy while you’re at it, when integrating artificial intelligence backed software tools into your business operations.

Protecting client relationships and brand reputation has persuaded many organizations to bake compliance regulations into their marketing strategies, in particular those supported by GenAI. International Data Corporation (IDC), a global market intelligence and data provider for the IT, telecommunications and consumer technology markets headquartered near Boston, MA, cautions that stringent data compliance protocols are no longer merely optional, but are necessary, to avoid financial and reputational harm.

We’re all personally impacted by the increasingly pervasive use of AI and you are well aware that data privacy is high-priority to your client (and you). Regular reports of cyberattacks and data breaches intensify concern. While the the expansion of AI-powered software systems result in a more efficient, responsive and personalized experience that clients value and now expect, it’s usage simultaneously makes clients wonder about the security of their data. Research by Publishers Clearing House found that 86% of Americans are more concerned about their privacy and data security than the state of the US economy. However, 62% either don’t know or are misinformed about how their data is being used.

Sigh. There is an upside, however. Advanced risk monitoring tools, automated reporting and responsible AI frameworks can act as gatekeepers and companies achieve regulatory requirements. Businesses that integrate transparency and ethical AI practices into their governance policies and procedures can reduce the possibility of data breaches and other AI-related risks and simultaneously enhance client trust and strengthen the company’s brand reputation.

There is also legislation designed to reassure consumers that protecting their personal data is serious business and is, in some municipalities, the law. Protective measures meant to safeguard the processing of personal data is demonstrated by the change of privacy features at Google, the implementation of the General Data Protection Regulation (GDPR), whose purpose is to protect the privacy and personal data of individuals in the European Union and European Common Market and the adoption of the California Consumer Privacy Act (CCPA).

What is first-party data?

First-party data is information your company has collected directly from clients and prospects, site visitors, or social media followers. First-party data comes directly to you and the more touchpoints you provide, the more opportunities you will have to collect this information. It is an extremely valuable type of data for businesses. In comparison, second-party data is shared by a trusted source, while third-party data is data aggregated from other sources, which can include social media platforms and public records.

Marketers recognize that personalization is the cornerstone of a pleasing and potentially memorable customer experience and that collecting, implementing and storing client data —first-party data—is integral to personalization. Marketers enter first-party data into customer relations management (CRM) systems to enhance personalization, use CRM predictive analytics to get insight into client behaviors and preferences, recognize client segments and then target marketing campaigns accordingly. Sources of first-party data include:

  • Client demographic info
  • Client buying history
  • Leadgen campaigns
  • Client or prospect interactions with your website or app
  • Surveys and other online feedback that clients may participate in
  • Client, prospect or other visitors user-generated content or social media conversation transcripts
  • Blog, email and newsletter subscribers
  • Program registration lists, e.g. webinar, workshop, or meeting sign-ups

Why do you want first-party data?

First-party data helps you to paint a picture of your client and develop a reliable buyer persona. It is enormously useful because it delivers accurate client and prospect information—user info from all the touchpoints—that enables you to target the right buyers for your services or products. You’ll also be able to make better informed decisions when figuring out what personalization looks like to your clients.

First-party data enables marketers to build a customer experience that reflects user purchase history, if applicable, or other known preferences and behaviors that enrich and enhance the customer experience. Personalization is like the bartender who knows your drink or the waiter who shows you to your favorite table. Now you’ll have an accurate blueprint to follow when figuring out how to nurture a brand community of long-term clients who are happy to buy your products or services, make personal referrals and generate good word-of-mouth on social media.

Transcribe first-party data into your Customer Relationship Management (CRM) platform to create a database of everyone who’s visited your website and social media platforms. But before you start using your first-party data, think about what you want to achieve, to ensure that you’ll maximize its many benefits. You may want to do one or more of the following:

  • Building brand awareness 
  • Expanding leadgen activities
  • Encouraging repeat business and discouraging client churn 
  • Re-engaging lapsed clients and non-converting prospects
  • Growing your thought leadership content audience—blog, newsletter, podcast, webinars, speaking engagements

When you get enough first-person data to have confidence in the size of your sample, begin to implement your strategy—segment your audience and use your first-party data insights to maximize conversions on your website by optimizing user experience, targeted marketing messages, the buyer personas to understand your customers and create customized emails or (email) newsletters that will be relevant to the primary sectors (e.g., hospitals, schools, for-profit, not-for-profit, small business, global enterprise).

As well, Freelance consulting specialists and other B2B entities can follow the highly aligned and targeted account-based marketing format to produce relevant and personalized content to your market segments across the digital channels you occupy— posting tailored content in a various formats (e.g. blogs, videos, e-books, case studies) that resonate with those audience segments.

The ability to personalize marketing outreach activities cannot be overestimated—96% of shoppers say they’re “likely to purchase when brands send personalized messages.” Meanwhile, a 2025 consumer trends report generated by Businesswire found that “three out of four surveyed shoppers have already abandoned brands they once loved in favor of those offering more personalized experiences, while 81% say they routinely ignore marketing messages that don’t feel relevant”. When you throw in the harsh realities that client acquisition costs are increasing, client lifetime value is decreasing and the competitive landscape is intensifying, making the most of first-party client data becomes imperative. But the catch-22 is that possession of client personal data, which often includes contact info and credit card numbers, is a risky proposition.

Collect data, protect data

The widespread restrictions on third-party cookies by leading web browsers presents real challenges to the collection of first-party data, even when enabled by data collection by sites you control (e.g., your website). With Google putting the brakes on third-party cookies, plus Edge, Firefox and Safari shutting off cookies, first-party data is more valuable than ever.

How can businesses safely collect this essential marketing/ sales resource and simultaneously navigate obstacles around data security and client privacy expectations? The implementation of advanced security measures to protect against fraud and data breaches is a must-do. Ensuring compliance throughout the transition is also crucial, especially with evolving data privacy regulations.

In addition to conducting regular security audits to ensure data is secure, businesses should go beyond standard encryption practices and adopt advanced security measures such as tokenization for sensitive data fields, which minimizes the risk of exposing real data should a breach occur. It is recommended that companies should leverage automated tools for continuous security monitoring and compliance checks that can provide real-time alerts on suspicious activities that help to preempt potential security incidents. 

Maintain client trust

In Freelance consulting, trust and expertise are foundational. Clients entrust their sensitive data, strategic plans and proprietary work flow processes to you and expect their information to be kept private and secure. That is an ingredient in your recipe to win confidence, build strong, lasting relationships and establish and maintain your image as a reliable partner. You, Freelance friend, must institute all reasonable measures to protect client sensitive information, but as you know, the growing cybersecurity security threats can make that task feel like an ongoing battle. Here are effective defensive, low or no-cost, tactics you can take:

  • Read up on cybersecurity best practices that have SMBs and Freelance consultants in mind on the Small Business Association SCORE website.
  • Multi-Factor Authentication adds a layer of security by requiring users to verify their identity with both a password and a confirmation phone call or email.
  • Secure file permissions ensure that only authorized individuals can create, edit, or share sensitive documents. Encrypt sensitive documents and store them in the cloud to add another layer of security by instituting more stringently controlled access.
  • Hard-copy documents that contain sensitive information should be stored securely in a locked cabinet or safe when not in use.  
  • When possible, conduct meetings during which confidential topics will be discussed in person rather than on videoconference calls.
  • Devise an incident response/crisis communication PR strategy that provides explicit instructions, defines responsibilities and details your data recovery strategy in the event of a security incident. Your organization must respond quickly and in a calm and professional manner that demonstrates your control over matters and ability to resolve the incident and inform and reassure clients as you do.

Thanks for reading,

Kim

Image: AI-generated image courtesy of StockCake

 

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How Do Freelancers Get Ready to Use AI?

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Artificial Intelligence continues to expand its presence in the business operations of companies large and small as it delivers to users numerous advantages. That said, business owners and leaders are advised to be mindful that integrating AI into their operations is more complex than installing Software as a Service products; both SaaS and AI require prospective users to determine where and why certain capabilities are desired. For example, there should be a clear understanding of which business function(s) could enhance productivity, perhaps, or save significant time, if it/they operated more efficiently. However, ramping up for the introduction of AI requires a deeper dive than what is required for introducing an SaaS application. A good place to begin your AI decision-making is to answer these questions:

  • What problems do you think AI will solve?
  • Which business functions do you think AI will improve?
  • Which key performance indicator metrics will be chosen to evaluate the impact of AI on your organization?

Business functions that often benefit from AI

Artificial Intelligence is a powerful tool that, when used strategically, can significantly improve the operational efficiency of business processes and in particular, can enhance the ability to make data-driven decisions that can guide your response to critical business questions or opportunities. AI also has many other useful capabilities, from automating repetitive tasks such as inventory management, by calculating optimal inventory levels, to enhancing the customer experience by way of a website chat bot that quickly and accurately answers questions posed by prospective customers and also deliver personalized messages to customers that encourage engagement and loyalty.

Begin your company’s assessment of AI by examining the role AI might have in your business operations—where and how do you envision it can potentially benefit your company? Addressing the above questions should be helpful. Furthermore, studying AI use cases across major industries will provide insight into where your organization might focus. Starting with small and easily measured processes will allow you to gauge both the effectiveness of AI in your operations and your (or your team’s) ability to work with the technology. AI has produced good results in these business functions:

• In marketing, AI will support market research, including data analysis, marketing content creation, generating marketing campaign visuals and marketing campaign support, such as personalized content creation and automating lead generation tasks. More than 90% of companies begin their AI journey with marketing.

• In sales, AI supports competitive analysis, predicts trends and may possibly lead you discover a potentially lucrative niche market.

• In technology, AI will assist in software development and system architecture design, speeds-up innovation and improves outcomes.

• Freelancers will find AI tools useful for project management, budgeting, invoicing and automating customer emails.

• In manufacturing, AI monitors machinery conditions, predicts failures and analyzes real-time data, enabling preventive measures that reduce costly downtime.

Advance planning helps AI implementation

Once you decide which business function will benefit from AI and would also be a good place to start, create an AI onboarding plan to support the success of your roll-out. Furthermore, if you have employees, factor in the attitude your staff may have regarding AI, which is an important consideration that can help or hinder your plan to introduce AI. Transparency is a must as you consider, and then decide, which business function(s) you’d like to see become AI-powered.

  1. Ensure that AI will seamlessly integrate into business processes

AI is considered a disruptive technology, but integrating AI should not disrupt how your business operates. Implementing AI is meant to improve your existing business processes. A well-planned AI data integration strategy will ensure that the technology will work efficiently within your business operations. In other words, AI must work with current systems, not against them. Before introducing AI, you are advised to confirm:

  • Does AI work with your current software and tools?
  • How much upskilling will you and your employees need to use AI correctly?
  • How will AI affect your existing business processes?

2. AI-ready data

Once you’ve decided to implement AI, it’s important to understand that this technology requires access to high-quality, structured (accessible) and accurate data in order to function effectively, especially in the B2B sector.  When the intention is to incorporate AI, it will be necessary to first focus on data integration. The AI system “learns” from your data bases and formulates data-driven decisions and predictions accordingly. Data accuracy (or inaccuracy) directly impacts AI performance—so, if the input data is incomplete or incorrect, the system may generate flawed results, leading to errors.

Garbage in, garbage out. It is imperative that you review your company’s data quality, consistency and accessibility. AI works best with structured data, that is, data stored in a way that AI tools can easily access and utilize it. You can improve your data integration as follows:

  • Check data accuracy to eliminate AI prediction errors
  • Remove duplicate data to prevent AI from repeated mistakes
  • Use cloud storage to give AI optimum access to real-time data
  • Set data rules to ensure that your data is stored in the cloud in an accessible and useful way

3. AI training for employees (and you)

AI adoption is successful when businesses train their teams to use AI correctly. AI does not exist to replace employees, but to support them. Because AI has acquired a degree of controversy, which might cause employees to feel suspicious, if not fearful, regarding their future prospects for employment, investing in AI training, along with transparent communications about how AI will be used in the organization are crucial. By training employees (and yourself), you will improve the results of your AI integration. Training will also ensure that your employees can appropriately manage the technology, which will make them feel confident and help you to win their support and trust.

An ongoing conversation with employees that includes listening and empathy, presented with the spirit of collaboration, will be crucial to AI’s success in your organization. Once you implement AI, invite employee feedback by asking them how AI affects their work. Your goal is to foster acceptance and that entails helping employees understand the the technology and spark enthusiasm for their opportunity to work with it.

  • Teach AI basics so that employees will understand how AI supports decision-making, for example, and encourage them to learn and test other AI features you’ll introduce in a judgment-free setting
  • Ensure that employees have the opportunity to learn to use AI in their daily tasks, as a way to show them that AI is a helpful tool and not a threat

4. AI security and privacy issues

A major challenge in AI integration for is ensuring that AI does not create security risks. Introducing security measures from the start helps businesses avoid the embarrassment (and possible legal trouble) that result from data breaches. AI works with data, including customer information, financial records and internal business information. Establish rules for AI security, including:

  1. Data protection – Store data securely to prevent breaches or hacking.
  2. Access – Limit who can see and use AI-powered systems.
  3. Quality control – Regularly check AI decisions to ensure they are accurate and ethical.
  4. Compliance – Follow data protection laws like GDPR and CCPA.

5. Start small, monitor and measure

Although AI is without question the Next Big Thing, tech experts recommend approaching AI integration cautiously. Adoption can be risky if not done without both clear objectives regarding what you hope to achieve and an understanding of the technology’s capabilities and limitations. It’s possible for businesses to fail with AI because they overreach with implementation, deciding to use it everywhere at once. AI is complex and mistakes can be costly.

Starting small with AI and testing AI tools in limited areas of your operations, so that you might gauge what works and evaluate where and how AI adds value in your organization, is the prudent way to introduce AI. You want to avoid committing too heavily to a new technology that may not be fully aligned with your business needs. A small project will allow you to test AI in a controlled way, identify challenges and measure results before making AI a bigger part of operations.

Finally, be advised that AI tools are not a one-time setup. AI will require updates, maintenance and adjustments over time, to ensure that your AI tools continue to perform as expected. It’s important to remember that AI “learns” over time and must be updated to remain accurate; without appropriate maintenance, AI can become outdated and unreliable— subsequent technological advances will cause older AI tools to be replaced by updated ones, for example. Companies should set a schedule for reviewing and updating AI. Where staffing allows, they should also assign a team to handle AI improvements. Solopreneurs and SMBs are recommended to speak with an AI systems technology professional to monitor their AI tools.

Thanks for reading,

Kim

Image: © 2025 University of Cincinnati Online

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260% Hiring Increase Propels Freelancers Beyond Flavor of the Month

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Mellow, a global contract and payment services platform whose customers are Freelancers, consulting companies and independent contractors, revealed in Their latest report a startling 260% increase in overseas hiring of Freelance workers by U.S. businesses from 2022 to 2024. The report indicates that the projects were also outside of the U.S. and that skill sets in highest demand included engineers, technical writers, analysts and website developers. The organizations for whom the Freelancers worked were Mellow contractor-of-record clients, based in the for U.S. and with 50-200 employees, categorized as Small and Midsize Enterprises (SME). The Freelancers hired were based in regions with emerging economies, primarily Central Asia, the Middle East/North Africa and Eastern Europe.

Mellow researchers interpret the big picture of their findings as confirming the centrality of Freelance workers as essential participants in a global trend that demands flexible work models and as a standard that will ultimately benefit U.S. based Freelancers. Rather than replacing U.S. workers, Mellow investigators see the predominance of flexible work models as creating new opportunities for both businesses and individuals in the U.S. Mellow emphasizes that the Freelancing surge is not about offshoring, but rather about decentralizing work and enabling businesses to be more agile, competitive and profitable.

Freelancers are a core business strategy

The advantages inherent in flexible, ad hoc, project-specific work arrangements were already apparent to both Freelance workers and the organizations that hire them, and the practice was already well established and growing in acceptance and popularity when the 2020 COVID-19 pandemic forced businesses to reconsider their work models and shift their employees into Work From Home mode. The pivot spotlighted the value of both remote work and the availability of a talented and reliable Freelance workforce. Organization leaders now widely recognize the logic of employing temporary talent for specific projects and this acceptance has brought revisions to their strategies for talent acquisition and workforce management. Freelancers are no longer regarded as just a short-term fix, but instead as a strategic advantage that delivers tangible benefits in today’s layoff-prone environment.

Talent management within an organization is no longer considered primarily an HR strategy and is now recognized as a core business strategy that owners, entrepreneurs and executives must recognize. The data makes it clear that organizations are welcoming Freelance talent and the shift isn’t just about cost savings; it’s also about responding to the need to be agile in a hyper-competitive marketplace that includes the realities of a periodically unpredictable labor market.

Market research company Grand View Partners estimates that global Freelance marketplaces such as Mellow, Fiverr, Guru and Upwork will have a 17.7% Compound Annual Growth Rate (CAGR) for the period 2025 to 2030, according to their recently published Market Analysis Report that examined the market size, share and trends of Freelance platforms. Industries setting the pace and providing a template that other companies can follow include Edtech, out front with an average hiring rate of 108 Freelancers and advertising companies, with an average Freelance hire of 34 contractors.

U.S. Freelancers thrived during difficult years

The years 2022-2024 were challenging for many American workers, executives and business owners. Numerous lay-offs, persistent inflation and widespread hiring freezes came on the heels of the coronavirus shutdown. “Quiet quitting,” the great resignation and persistent demands to return to the office—a condition that many employees find unnecessary, if not unacceptable—dominated the echoverse.

The unrest motivated many companies to adopt a flexible approach to getting the work done and increasingly, company leaders acknowledged that Freelance professionals are uniquely qualified to provide the skills their organizations needed. The inclination to hire Freelance workers also aligns with agile business strategy that likewise requires a flexible, capable and cost-effective workforce that drives innovation, growth and profitability.

 In a January 2023 survey of 1,000 U.S. business leaders of companies with more than 50 employees, Resume Builder showed that 40% of those companies hired Freelance workers to replace laid-off employees and 53% convinced some of their full-time employees to accept Freelance positions, in order to remain employed.

Return-to-office and lay-offs poised to increase Freelance opportunities

Lay-offs have been announced by Hewlett Packard, Grubhub, Meta and Chevron; meanwhile, RTO mandates have been repeatedly announced, most notably by J.P. Morgan, along with Amazon, Dell and Starbucks, all of whom are cracking the whip and herding the last of their WFH employees back into the office. As unpleasant as all that sounds (at least to me), Freelancers are positioned to obtain clients and potentially generous billable hours that result from lay-offs and RTO mandates that are ignored. One door closes and another door opens.

Data from Upwork, the Freelance marketplace used by both Freelance workers and the companies that hire them, shows that Freelance labor is 30-60% less costly than W2 employee labor; the latter entails costs such as payroll taxes, social security payments and vacation and sick time, while the former option enables company leaders to pivot into a flexible workforce arrangement rather than lay-off W2 employees (and perhaps face media scrutiny). Furthermore, Resume Builder data also shows the rise of a strategy called “quiet hiring,” that is demonstrated by the 37% of companies that had recent lay-offs and hired Freelancers to replace laid-off workers.

Regarding RTO mandates, the advantages of Freelance talent are not exclusively limited to remote arrangements. In fact, the in-person Freelance model is a fast-growing segment. Spurred by front-line workforce talent platforms specializing in retail, hospitality and even factory workers, in-person Freelance gig workers are solving significant challenges for industries known to suffer from high rates of employee burnout and churn.

The Freelance future is bright

The demand for Freelance talent is expected to energize the employer side of the equation as evidenced by the predicted 17.7% CAGR within 2025 the SME and large enterprise business categories. The rise of start-up businesses and entrepreneurship in general contributes to the increasing demand for Freelance talent, as detailed in the Upwork Freelance Forward 2023 report, that noted Freelance labor contributed $1.27 trillion to the U.S. economy in annual earnings and also noted that 38% of the U.S. workforce, or 64 million Americans, performed Freelance work as either a primary or occasional source of income.

Start-ups often have limited budgets that constrict their ability to hire full-time employees for every role. Fractional executives, who are Freelancers who serve companies on a C-Suite level, are also taking hold at start-ups and Freelance and fractional workers provide start-ups and SME businesses with an affordable way to access high-quality talent on a short-term or project basis. The scalability of Freelance hiring models makes it easier for entrepreneurs to manage fluctuating or unpredictable workloads while maintaining high-quality standards without exhausting financial or labor resources. The ability to hire specialized Freelancers enables start-ups and other businesses to remain nimble and efficient—agile—which is essential for their growth and survival in highly competitive markets.

The success of Freelancing is perhaps best summed up by data from Mellow which reported that in 2023, the average monthly income of Freelance workers in their report grew by 18% and grew by another 23% in 2024. Mellow’s data also confirmed that the way to earn billable hours is to take on more than one client at a time (but you knew that).

Thanks for reading,

Kim

Image: ©Epic Records. Singer-songwriter Minnie Riperton (1947-1979) in the cover shot for her gold album Perfect Angel (1974)

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Trend Tracker Is Free Help from Yelp

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Launched in 2014 at the platform’s 10th anniversary, Yelp’s Trend Tracker is receiving so much flattering business press of late that it feels like a relaunch (and I’m sure it is)! If you operate a small business and maintain an active Yelp account, whether or not you subscribe to Trend Tracker, Yelp is talking to you. If you’re a Freelance solopreneur who’s claimed your free Yelp listing and then dropped the subject, Yelp is talking to you, too. Or maybe you’re a self-employed professional, a Freelancer or SMB owner, who does not have an active Yelp account? Whatever the case, Yelp and Yelp’s Trend Tracker beckon with insightful and potentially actionable data that pertains to your industry and can support your mission to build a profitable and sustainable business entity.

What is Yelp’s Trend Tracker?

Trend Tracker is an AI-powered, cloud-based tool that monitors customer searches, reviews and interactions to identify trending topics in real time. Trend Tracker reveals and reports customer search patterns, behavior and emerging customer preferences across a broad array of industries. Trend Tracker harvests data from unique searches the Yelp platform receives each month (178 million in January 2025) and measures the frequency of specific phrases and topics used in those searches. This data sheds light on what you want to know, from customer purchasing trends to popular B2B and B2C services. Furthermore, Trend Tracker goes beyond search terms and also analyzes the text of customer reviews, to further clarify the picture.

It can literally pay to know this stuff because from time to time it may be worthwhile to respond to certain information. You may decide, for example, to update the key words in your content marketing material if Trend Tracker data indicates that target customers have begun to use certain terms when searching your product or service category.

Free market research for Freelancers and SMBs

Trend Tracker analytic insights are available free of charge—join the mailing list and you’ll receive data that is relevant and updated monthly and enables those who pay attention to access boots-on-the-ground marketing insights that can potentially help to promote your products and services more effectively. Supported by Trend Tracker, you’ll be positioned to detect and quickly respond to customer preferences, adjust marketing strategies and/or tactics to better align with shifting customer priorities and maybe even tweak your service or product line to reflect a significant shift in customer tastes.

When business decisions are guided by relevant, reliable data, decision-makers are more likely to achieve their intended outcomes. Decisions and actions that are guided by what matters to prospects and customers IRT will be immensely helpful to business owners. One of the biggest advantages of Trend Tracker is its ability to give you the heads-up on developing trends before they go mainstream and giving you time to update your position and be among the first providers to capitalize on emerging customer demand. Trend Tracker enables you to:

  • Identify emerging customer interests before they become mainstream
  • Adjust marketing strategies and tactics to respond to customer interests in a timely fashion
  • Create events and promotions that reflect developing trends
  • Improve your brand’s online visibility and search engine optimization with trending keywords
  • Stay ahead of competitors (who may not have access to reliable data-driven insights)

What else can Trend Tracker do for you?

So what’s trending that applies to you? Trustworthy intel is what’s trending and it applies to your entity in many ways. Trend Tracker data can even be a resource when you must conduct market research to evaluate your business planning, from the feasibility of scaling or expanding your venture to clarifying your decision-making as you verify, or rethink, a side hustle you hope to launch. News flash! Re: business planning, can we acknowledge that Freelancing does not exclusively pertain to B2B services such as marketing, website development, graphic arts and shooting and editing videos? Can we recognize that Freelance expertise can also be applied to a B2C service entity? In other words, could it be that upgrading home interiors is a more satisfying expression of your entrepreneurial talent than cybersecurity? That seems to be the case for the Property Brothers.

You may be interested to know that the Trend Tracker September 2024 issue reported that in 2024, home services produced record growth for business owners in that industry across the U.S. and drove an all-time revenue bonanza for the category. Trend Tracker data indicated that in 2024, home services were the fastest-growing segment of B2C services in every U.S. state plus Washington D.C. and was the top category for new business launches among all industry categories on Yelp as well. This still trending growth cycle is fueled by renter-friendly home upgrade projects. As many citizens come to recognize that attaining home ownership or trading up from starter house to a more spacious (and grand) residence is unaffordable, remaining in the current home for a longer period of time has become yet another New Normal reality.

As a way to make home feel more comfortable or look more stylish, people are investing in improvements that upgrade living spaces without upsetting the landlord. Another home services industry hot spot, this one pertaining to homeowners, is weatherproofing services that make homes more resilient to what seems like increasingly frequent extreme weather events. Trend Tracker data shows that Yelp users have increased searches for both renter-friendly and homeowner services—could responding to the growing demand become your side hustle or even your full-time Freelance or SMB enterprise? Aspiring business owners have set up shop as Freelance solopreneurs and SMBs to address those priorities, which resulted in big increases in Yelp searches in 2024 vs. 2023:

  • home organization (+362%),
  • peel and stick tile (+73%),
  • wallpapering (+41%),
  • snow removal (+36%)
  • home automation (+27%),
  • drapery installation (+11%)
  • waterproofing (+23%)

In sum, Trend Tracker can be a game-changer that might potentially have a direct impact on your ability to gain or maintain competitive advantage and monitor customer priorities—and maybe even launch a successful business or side hustle. Tara Lewis, who spent 15 years at Yelp helping businesses connect with their target customers and also served as its trend expert, advises that the best way to get started with Yelp’s Trend Tracker is to check out the latest trends noted in the monthly newsletter and pick one insight to test in your business this month. Lewis says that even a small adjustment can lead to noticeable improvements in brand visibility and sales revenue generated. She recommends the following:

  • Practice authenticity in trend-chasing. Don’t just follow trends; make them your own to help your business stand out.
  • Connect with valued customers through shared trending interests. Form meaningful connections with your community by creating events and social spaces that appeal to those who matter most.
  • Use Yelp Trend Tracker data to highlight what you already offer. Your business may be in tune with rising trends — adapt your marketing strategy to make these products or services more visible to customers.
  • Position your business for long-term trends, not just momentary fads. Some trends are fleeting; others reflect larger shifts in consumer behavior. Identify trends with staying power and incorporate them into your business vision.
  • Your brand’s unique personality is your trendiest asset. Lean into what makes your business distinctive to set yourself apart and keep customers coming back.

Thanks for reading,

Kim

Image: © Freepik

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Getting Things Done: 10 Tasks to Outsource in 2025

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Outsourcing is the practice of delegating certain business functions to an external agency with the goal of enabling the business to focus on primary tasks and responsibilities. Outsourcing enables Freelance consultants and other business owners to devote time and talent to the organization’s core functions by selectively delegating certain tasks to a highly skilled external expert.

The importance of outsourcing in today’s business world cannot be overstated. It is a valuable resource that, when implemented wisely, has the potential to offer significant benefits to businesses of every size, in particular cost savings that would be associated with hiring one or more employees to do work that is instead outsourced and obtaining access to specialized skills that are not available within the organization. Outsourcing promotes effective time and resource management.

Devoting time to functions that are core to your business and gaining useful professional expertise that can upgrade how your business functions are the most persuasive motivations for introducing outsourcing to your entity. Accessing specialized professional skills that would otherwise be unavailable to your organization can be a game-changer that has the potential to enhance productivity, efficiency and even the current or future profitability of your venture. Increased operational efficiency, positioning the business to grow, expand, or scale and promoting risk management practices are additional benefits that can be derived from strategic outsourcing. As businesses strive to become agile and remain competitive in a rapidly evolving market, outsourcing has become an integral part of business strategy.

In addition to choosing the right business functions to outsource, it’s also important to know what you want outsourcing to enable you to achieve. Keep goals in mind—do you want to improve productivity and operational efficiencies, save money, protect your IT network security, or increase profit margins? Set goals and record their starting metrics; continue to follow and measure the impact that outsourcing has on your entity.

Oh, and let’s not confuse outsourcing with off-shoring. Outsourcing is a way to get work off your desk and an opportunity to access special skills that you don’t have in-house and enables you to concentrate on business functions that are best performed by you. The purpose of off-shoring is to find cheap labor, typically located in a developing economy, and paying laborers there to work at an hourly rate that is considerably lower than what is paid in a developed nation. Off-shoring is about minimizing costs by transferring certain business functions to locations outside of the U.S., taking advantage of international currency values and slashing business expenses (payroll, for example) as a way to increase profitability.

Below are 10 tasks you may want to consider outsourcing in 2025, perhaps by hiring a fellow Freelancer.

  1. Accounting and Finance Delegating your entity’s accounting, bookkeeping, or other financial functions to a trustworthy external provider can include tasks such as cash-flow management, tax preparation, payroll management, financial reporting and auditing. Staying compliant with tax laws and regulatory requirements is crucial for every business and an experienced outsourced accountant will have deep knowledge of current laws and ensure that you’ll avoid fines, penalties and legal problems. Additionally, accounting firms typically have in-house expertise in risk management and are able to identify potential financial lapses before they escalate. Freelancers and small business owners can further benefit from the guidance of an outsourced financial expert who has detailed knowledge of the company’s financial position should they inquire about the feasibility of scaling, growth or expansion, or where money can be saved. When interviewing prospective accounting/finance outsourcing experts, consider asking these questions:
  • What’s the biggest financial challenge for a company like this in today’s business landscape?
  • What specific accounting/finance services do you provide?
  • Can I expect monthly, quarterly and annual reporting? Will recommendations be made where necessary, based on the numbers?
  • Will you help me set realistic goals for business growth?

2. Customer Service tasks can range from answering customer queries and handling complaints to providing technical support and managing social media interactions. Your outsourced customer service specialist can provide these services through various channels such as phone calls, emails, live chat and social media platforms and allow your business to provide support 24/7 and otherwise enhance customer satisfaction and the customer service experience that impacts your brand. Your external providers will likely have a team of trained professionals who can handle a wide range of issues and ensure high-quality service. You can help the experience by using automation tools to integrate FAQs and chatbots, complementing human support. When investigating customer service outsourcing, the questions below should be helpful:

  • Does the outsourced customer service candidate possess superior communication skills and highly evolved Emotional Intelligence and excels at clear and empathetic communication?
  • How familiar is the candidate familiar with your preferred support platforms, like Zendesk or Intercom? Multichannel experience is crucial.
  • Define clear and reasonable guidelines for response times to customer questions and tone of voice, in order to maintain consistency and meet customer expectations.

3. Human Resources Under the HR umbrella are numerous subspecialties, such as talent acquisition, payroll processing, benefits administration, training and development, compensation strategy, onboarding and background checks. Delegating HR tasks to a specialized HR outsourced service provider is proactive risk management that will ensure your company’s compliance with labor laws, for example.

HR experts are responding to the evolving business environment that calls upon those in the field to meet the special circumstances of Freelance workers and fast-paced agile business practices. There is now Freelancer Management System (FMS) software that allows HR companies to efficiently manage hundreds or even thousands of Freelance worker, who could be located anywhere in the world, and seamlessly implement their onboard, store documents, manage projects, send invoices and make payments.

As noted above, there are many HR subspecialties and no one is equally adept in all aspects. When addressing this suite of critical business functions, it’s imperative that you work with an outsourcing HR partner that best suits your needs. Insightful questions to ask when considering an outsourced HR talent for your entity will likely include:

  • What services are you most qualified and comfortable supporting? N.B,. it’s important to consider both current and future needs, such as the possibility of scaling or otherwise expanding your entity, which could necessitate talent recruitment.
  • How long will it take to implement the services you need? Also ask about the software or cloud computing required to support those services.
  • Which metrics and reports will be provided? Your HR expert should discuss the reports you’ll receive and how often you’ll receive them.

4. Information Technology Needless to say, your business entity cannot function without the right technologies and they must function reliably and seamlessly. Freelancers and SMBs frequently seek out outsourced IT expertise for essential services such as network management, cloud computing, cybersecurity and website maintenance that ensure your IT infrastructure operations are seamless and secure. Your preferred outsourced IT expert will have invested in state-of-the-art infrastructure and technology that enables business clients (you) to access cutting-edge technology that can maximize productivity and even give your company an advantage over competitors. The following questions will give you useful info:

  • Do you operate 24/7?
  • What services do you provide?
  • What is your approach to security issues?
  • Do you (and possibly also colleagues) work from home, in an office, or as a hybrid?
  • How do you manage power outages?

5. Market Research Is there something you need to learn about your customers or your industry as a whole? Whether you’re thinking about launching a new product or considering expanding into a new market, proper research is integral to the process. In the world of business, knowledge is power—competitive intel, analyzing market trends, identifying target audiences and discovering niche markets directly impact the profitability of your venture.

A diligent market research maven who knows where to look for the relevant data and how to analyze the information can be a game-changing resource for supporting informed decision-making. Those insights can shape product development, marketing strategies and even overall business direction.

In most businesses, data and market research are integral to business success, but data deep dives are known to be rather too time consuming for single person entities maintained by Freelance professionals or skeleton crew sized SMBs. Actually, in nearly every organization, workers should direct their focus to implementing data rather than finding it. Interviews with market research outsourcing candidates can include the following questions:

  • Describe a market research project where you identified a significant trend or insight that impacted business strategy?
  • How have you used quantitative and qualitative research methods?
  • How do you stay updated on the latest market research techniques and technologies?
  • What steps do you take to avoid bias and ensure that the data you collect accurately reflects the market you’re studying?

6. Design and creative Very few people have artistic talent, making outsourced design and creative work a common request. Many professionals accept the limits of their creative ability and delegate design to the artists, who can produce a professional, brand-building appearance for a website, social media pages, logo or business card, December holiday and thank you cards and even branded swag items to send to your most loyal customers when special occasions arise. You might explore the following topics and questions when discussing outsourcing a design project:

  • Review candidate portfolios to ensure their style matches your brand’s aesthetic.
  • What experience do you have with video editing and animation?
  • What is your experience using Artificial Intelligence and how does it fit into your creative process?
  • Discuss and agree on the number of design revisions are included in the project fee.

7. Search Engine Optimization SEO is essential for driving traffic to your website. Freelancers specializing in SEO can audit your site, optimize content and improve your search rankings for competitive keywords. To ensure that your website does what you want it to do, that is, function as your inbound marketing engine and hub for many marketing functions, you should regularly update site content with fresh, optimized info to maintain visibility. You will do well to explore the following topics and questions when seeking to outsource SEO:

  • Ask to see case studies or client testimonials that verify tangible results.
  • Discuss and agree upon the SEO strategy, that is, a clear plan that will prioritize keyword research and backlink-building tactics.
  • Ensure that regular progress reports will be received and that performance results will be incorporated into data-driven strategy and/or tactical adjustments.
  • At what point can you expect to see the SEO needle move in a positive direction?

8. Data Analysis Data-driven insights may need translation and interpretation, so that you can be confident about the story your numbers tell. A data analyst can help you make sense of your business metrics and therefore enable better decision-making. Your business data guru can identify trends, predict customer behavior and provide actionable insights that will guide marketing campaigns and strategies, or even new products or services you might launch. To find the right analyst, ask the following questions:

  • Choose an analyst who’s familiar with your sector to ensure that you’ll receive relevant, timely, actionable insights. How familiar is the candidate with your industry?
  • Review case studies to see examples of past projects so that you can assess candidate ability to make actionable recommendations that drive results.
  • Ensure the candidate is proficient in the use of analytical tools, such as Google Analytics, Microsoft Excel and Power BI, SAS and also the role of AI in data analysis.

9. LeadGen One of your smartest and potentially most successful outsourcing moves can be to stimulate the all-important leadgen process by using marketing automation that’s supported by the Artificial Intelligence capability known as AI-powered Intelligent Virtual Assistance. Time is money and Freelancers who want to drive results would be wise to investigate IVA outsourcing options to streamline their marketing/sales funnel operations. Smart forms, your AI “Agent,” will engage potential clients through interactive conversations, social media, or even direct telephone calls, to efficiently capture leads and qualify them in order to enhance customer acquisition. You’ll also receive regular updates of relevant metrics, most notably your campaigns’ cost per lead and the number of leads that originate from specific professional audience segments. Then, all you’ll have to do is nurture those leads and persuade them to convert. Reach out to your leads across multiple channels, conduct targeted email campaigns, or even host webinars—whatever you need to convert to customers. When meeting with a leadgen outsourcing expert, explore the following questions:

  • How do you create leadgen campaigns that you can expect will produce the desired results?
  • By what standards do you identify robust leads?
  • How do you measure and adjust leadgen campaign results?
  • Please give an example of a challenging leadgen situation you encountered and how you overcame it?
  •  How you have handled objections and rejections in leadgen?

10. Public Relations Freelance consultants often don’t have time to pitch themselves to editors of business publications, speakers bureaus, podcasts and webinar hosts, or business organization liaisons who can schedule them to speak of make an appearance on a webinar or podcast. But everyone knows that PR is an important component of brand-building and positioning oneself as an expert in the field. Authoring a blog or newsletter and social media activity also matter, but face2face interaction has a special impact. To make sure that you don’t allow this important marketing function get lost in the shuffle, consider outsourcing.

While most PR specialists want to design a strategy and use it to shape their client work, it’s usually possible to have your own goals and hire the PR expert to make them happen. Still, understand that an external PR agency can bring a fresh perspective to your business. Your outsourced PR expert can offer unbiased insights and innovative ideas that may not be apparent to you. This outside viewpoint can be invaluable for identifying new opportunities, addressing potential challenges and crafting messages that distinguish you in a crowded marketplace. Another set of eyes can see your brand from a different angle and recognize creative and impactful PR strategies that you did not anticipate.

Furthermore, PR agencies have established relationships with journalists, media outlets, influeners and others in the promotional communications sector. These connections are routinely leveraged to obtain media coverage for clients and amplify your brand’s message. By outsourcing your PR activities, you gain access to this extensive network, which is a resource you would be unlikely to build and maintain on your own. A well-connected PR agency can open doors to new opportunities and ensure that your brand is heard by the right people. The following questions will be insightful when meeting with potential candidates for outsourced PR:

  • How do you develop PR strategies for clients?
  • How do you obtain media placements and coverage for clients?
  • Can you share examples of how you’ve improved a client’s brand visibility or reputation?
  • Do you have case studies that showcase your work and results in our field?

Thanks for reading,

Kim

Image: ©ARTpok/ Shutterstock

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How to Scale Your B2B Services Company

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Independent and ambitious Freelancers, like other business owners, are inclined to brainstorm strategies and tactics that may have the potential to increase their company’s revenue and profit. Central to the entrepreneurial dream is building an entity that attains success as you define it and that often entails making money. But as with all business decisions, it’s necessary to determine which strategy and tactics have the greatest likelihood to reach the pot of gold. As always, the most reliable way to answer that question is to conduct comprehensive marketplace research and examine your company’s key performance indicators.

Grow, scale, or expand?

It is imperative that you recognize which KPIs point to a particular revenue and profit boosting strategy and give you the confidence to follow that solution. To earn more revenue and become more profitable, there are three options—expand, grow, or scale. Each strategy requires certain marketplace conditions and financial and other resources and carries its own kind of risk.

Expansion is a much bigger investment, especially for Freelance professionals, who typically operate a service business, work alone and deliver the service yourself. Launching your operation in a new location typically places a significant demand on financial and logistical capabilities, making growth or scaling, which both entail relatively fewer demands on resources, more accessible to Freelancers.

OK, so how can you recognize which option makes more sense for you? First, let’s know what we’re talking about. Many business owners and Freelancers misunderstand the meanings of growth and scale, so let’s take a sidebar and examine their definitions. Growth means adding more projects, new services and/or signing additional clients as the engine of your strategy to boost revenue and profit—activities that mostly entail more expenses. Scale focuses on increasing revenue and profit without significantly increasing the associated production costs. Essentially, scaling means working smarter, not just harder, and aligns well with the financial and logistical capabilities of the typical Freelance professional.

Nevertheless, scaling a business, particularly a small, service-based company, will require extensive preparation and a well-designed strategy to make it work. To evaluate the possibility of scaling your operation, you’ll dive into company KPIs and conduct an extensive financial analysis, marketplace research and strategic planning. Data-driven decision-making will yield the most trustworthy information and outcomes.

Furthermore, when contemplating your scale, or any other significant business investment, as you study the data, contact your business accountant, who is familiar with your financial situation and is positioned to be your Sherpa and guide you as you climb (scale!) the mountain. There are a couple of obvious questions that you should address before calling the accountant.

  • So, how’s business? Are clients lining up to do business with you? Are you meeting, if not exceeding, your revenue targets? How many clients are on your roster? If business is off the chain, then get your accountant on the phone and share the good news. However, if you’re merely pleased with your performance metrics, set higher goals and observe what happens during the next two or three quarters. if you surpass those metrics by an impressive margin, it may be time to call the accountant and discuss next steps.
  • Client feedback Listening to what clients observe or experience can steer your business toward success and it’s good business to invite them to give their perspective. Invite clients to share their thoughts and suggestions regarding your services. Client insights may open your eyes to add-ons, upgrades and/or new services you can provide and what they tell you could contribute substantially to your scale. Make giving feedback convenient by occasionally including surveys in marketing emails, soliciting online reviews, maintaining an active presence on social media, or making yourself available for in-person conversations. Your objective is to hear and assess what clients say about your services, company and the customer experience you provide. You can use their feedback to better understand what clients like, what you can do better and get early warnings of emerging trends and how your clients feel about what’s on the horizon. With this knowledge, you can tailor your services to meet this demand and strengthen your positioning as a go-to provider in the industry, whether or not you decide to scale.

Use data to evaluate a potential scale

Analyzing and interpreting company performance data will do more than answer the expand, grow, or scale question. KPIs will also spotlight company strengths and weaknesses, help you recognize competitive advantages and call your attention to gaps that limit progress and need fixing. With the help of your accountant, your KPI data analysis will also indicate the overhead expenses, staffing and other resources, so that a realistic budget can be developed.

Moreover, your analytics tools can build reliable data-driven sales forecasts for the proposed scale that will include the number of new clients needed, average billable hours/ hourly rate and sales revenue you must generate within a particular time frame. BTW, if you were wondering when and how to incorporate AI into business operations, evaluating a potential scale could be your motivation.

Find your money-making niche

Turn to marketplace and industry data to point you to a niche you might enter. You might also consider how you to diversify your current service line? In either scenario, consult your data projections to suggest whether client price tolerance will allow you to achieve a profit margin that covers the expense of delivering at scale. Competitive intel is also likely to be useful; for example, there may be few competitors in certain market segments because there’s no money to be made. Once you’ve learned where the opportunities are, you can start making changes to scale successfully.

Upgrade marketing and branding

Build up company visibility and reputation with robust marketing and branding. Sharpen your marketing messages and establish a presence on inbound and outbound marketing channels that are a fit for your services. Search Engine Optimization, social media and content marketing should be especially useful. Nearly half of all clicks on search engines come from organic searches, which suggests that prospects are more likely to trust the results they find naturally.

Your marketing and branding strategies will also be more impactful when guided by data. By analyzing metrics such as website traffic, conversion rates and client engagement, you’ll be likely to discover actionable insights that may shape marketing strategies and campaigns that produce the results you need.

Standardize service delivery, invest in automation

Scaling a service-based business requires being able to deliver those services in the same way, every time. A strategy that will both save time and ensure that your profit margin is sufficient to cover the expense of delivering at scale is to package your services as a menu of products and eliminate the need for you to customize every order. Next, create standard operating procedures to ensure quality, efficiency and consistency in how your services are delivered. Map the step-by-step workflow, provide written or video instructions for clients and if applicable, ensure that your team is trained on best practices, so that clients will receive the same excellent results every time.

With a service-based business it is you, Freelancer friend, perhaps assisted by a team member, who will provide your services. In order to scale, you must develop and perfect turn-key, streamlined processes that allow you to work with the number of clients necessary to realize the scale. From your client onboarding procedure to billing and invoicing, automation will make your organization more efficient, appear more professional, inspire trust and build your brand at every touch point. Not only that, you’ll have more time to focus on improving your business and optimizing the scale.

Thanks for reading,

Kim

Image: Jack’s First Beanstalk, illustration from Jack and the Beanstalk, a circa 1734 English fairy tale. Author and illustrator unknown.

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Artificial Intelligence–Where Do You Begin?

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I haven’t used AI much, other than inviting this platform to do a free AI review of the posts I write for you, to make sure that the information is reasonably complete, for example, and my vocabulary choices clearly communicate what I want to share. Sometime soon, though, incorporating AI tools into my modest Freelance operation will be inevitable and as a Freelancer who fares best when operating expenses are reined in, thinking strategically about the business functions that will inaugurate my AI roll-out is a must. So as I work through this decision, I’ve decided to take you with me, because you’ll also need to figure out AI for your business needs in the near future. An AI tool is not an impulse buy. To obtain the results you want, big-picture thinking is needed.

  • Assess your current operations: Before spending money and implementing AI technology, review your business processes and identify where an upgrade would make a difference. For example, how might your productivity benefit if you could generate more extensive and specific data insights, or improve the effectiveness of marketing campaigns, or expedite content generation —blog, newsletter, marketing emails? Where might AI create the most value for your organization?
  • Start small: Choose one or two areas to implement AI tools and learn how to produce the results you want. A website chatbot programmed to answer inbound marketing FAQs might be a good place to start.
  • Let AI provide inspiration: In particular when using AI for content creation, remember that AI gives you a draft, such as suggesting good topics, or personalizing marketing messages for diverse audiences. Avoid directly posting AI-generated content on your website or social media accounts as your final version. Check AI suggested sources for accuracy.

Which AI tools are suitable for Freelancers and SMB?

As we head into 2025, it is understood that AI will become an essential resource to promote business growth, identify how to improve competitive positioning and overall move an organization forward. Whether you use AI to generate data analyses, conduct market research, create a revenue forecasting model, or manage customer relationships, these tools are designed to support companies of every size. Whether you’re a Freelance writer, wedding planner, or bookkeeper, there are AI tools that will improve your business operations in many ways, from project management to image creation, search engine optimization to financial projections. One or more of the four AI tools below may get you off to a good start.

Canva

Canva Magic Design makes it easier to design graphics that reflect your brand when you must create presentations, proposals, marketing emails, or other documents. Magic Design (with a complementary feature called Magic Write) is part of all Canva plans, including the free version. Jumpstart your design with either a text query or photo and Magic Design will auto-generate relevant templates that fit your description. With plain text commands and just a few clicks, you can create customized graphic designs. Just describe your preferred image or upload your media and Magic Design will create social media posts, presentations and even videos. No coding and advance design skills required. Subscription is either free, or from $9.99/month for Magic Design Pro.

  • Ask Canva to produce social media graphics for your marketing campaigns.
  • Update webpage template colors and fonts to match your brand color scheme.
  • Turn AI-generated content into a presentation slide deck.
  • Transform Instagram posts into a series of swipeable images known as a LinkedIn carousel post.
  • Upgrade your Canva plan with Magic Design for Presentations or Magic Design for Video.

Asana Intelligence

Asana Intelligence is an add-on to the Asana project management platform and is especially well-suited for IT, marketing and operations needs. Website developers and others who work with multiple clients might use Asana Intelligence to track client projects and write status updates that keep clients informed. Teams may use Asana Intelligence to aid in making shared project management faster and easier. Customer service virtual assistants can speed up client workflows when the Intelligence feature is activated. Users can also ask questions on any work in Asana to receive insights, identify challenges and set up next steps.‍, keeping the client in the loop. This versatility makes Asana Intelligence a nice choice for those responsible for both creative and administrative work. Premium and Business tier Asana plans include the Intelligence feature at no additional cost. Plans start at $10.99 per user, per month.

  • Create automated workflows that activate when someone new joins your Asana team or project.
  • Sort and label projects with auto-generated fields.
  • Generate summaries and action items for projects.
  • Edit project summaries and team messages for voice, tone and clarity.
  • Find data points and information in a project within an Asana workspace.

ChatGPT

ChatGPT is a generative AI chatbot that users can interact with through conversation threads, making it an excellent tool for projects that require lots of Q & A to drill down into specific market challenges, customer pain points, or competitor strengths, for example. Its conversational interface makes ChatGPT great for narrowing down discussions that help you discover the nuances—that might mean an exploration of your customer journey or understanding your customer’s end-user workflows. ChatGPT can also help build a more powerful go-to-market strategy for new product launches by identifying influential players in your target market and revealing relationships and interactions between those influential players that can influence both product or service sales and the customer experience. This step is very helpful to find people to interview and build relationships with to improve your go-to-market strategy. Buy a Plus subscription is $20/month to access what you’ll probably need.

  • Data collection for market research.
  • Discover and explore untapped market opportunities.
  • Write drafts for project proposals.
  •  Identify growth strategies, find ways to reach new audiences and discover insights that position you as an industry thought leader.
  • Create a revenue forecasting model to assist in predicting future financial performance based on historical data and assumptions. Conduct scenario analysis, a financial model that allows users to test different possibilities and assess their impact on financial outcomes.

Lumen5

Lumen5 is an AI video generation platform for marketers. The platform enables those without training or experience to easily create video content by simplifying the process of converting text into engaging visual content. Its user-friendly drag-and-drop interface and automatic text transformation capabilities make video creation much easier, saving time and effort. Storyboarding and video editing are two key advantages. You can use the service to create two kinds of videos:

  • Auto-captioned talking head videos using footage that you upload.
  • Marketing videos based on written presentations, documents, or blog posts.

When creating marketing videos based on a document, the text is all you need. You don’t have to film any footage yourself—Lumen5 will generate visual content that pairs with your words. Lumen5 plans start at $19 per month and allow you to create both videos and AI-generated voice-overs for your clients.

  • Marketers can use the tool to create content for client marketing campaigns.
  • Sales managers can turn presentations into personalized videos for prospects.
  • Freelancers can turn to Lumen5 for help creating their own social media content.

Disadvantages of AI

While AI has numerous highly valuable benefits, the technology also carries potential downsides. Being circumspect about the big picture consequences of implementing AI is important for you, your customers and your community. Think corporate social responsibility.

  • Job displacement–AI’s abilities to automate processes, generate rapid content and work for long periods of time can mean job displacement for human workers.
  • Data quality–AI models are only as good as the data they are trained with. The model will produce unreliable results if the data is incomplete or inaccurate. If you’ve previously used SAAS tools, always double-check the result of AI generated info.
  • Hallucinations–AI systems may inadvertently “hallucinate” or produce inaccurate outputs when trained on insufficient or biased data, leading to the generation of false information. 
  • Ethical concerns–AI systems may be developed in a manner that isn’t transparent, inclusive or sustainable, resulting in a lack of explanation for potentially harmful AI decisions as well as a negative impact on users and businesses.
  • Privacy concerns–The data collected and stored by AI systems may be done so without user consent or knowledge and may even be accessed by unauthorized individuals in the case of a data breach.
  • Environmental costs–Large-scale AI systems can require a substantial amount of energy to operate and process data, which increases carbon emissions and water consumption.

Thanks for reading,

Kim

Image: © Marciobnws for Shutterstock. The Creation of Artificial Intelligence by Man, an image inspired by The Creation of Adam (1508-1512) by Michelangelo.

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Smart Choices and Good Decisions

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When you face a big decision whose outcome may significantly impact your business or life, what steps do you take, what routine do you follow, to help yourself do the right thing? Big decisions, especially, involve consequences and their after-effect can reverberate over the long-term. The decisions you make, delay, or avoid shape the path of your personal and/or professional life and for that reason, the ability to make effective decisions is a survival skill.

Business owners and leaders are called upon to make many decisions; most are routine, and some are high stakes, positioned to have significant impact on the direction and/or fate of the venture. It is therefore worthwhile to do whatever possible to develop skills and practices that support your decision-making proficiency. Below are practices that, unlike the whims of fortune, are within your control and can guide you along the path to decision-making success.

1. See the big picture

As you get ready to make the decision, be clear about what you expect the preferred outcome will mean for you and/or the business. Good decisions require awareness; the decision-making process fares best when you are attentive to the context in which it will be made, meaning key internal and external factors that can assist or impede your ability to choose the right path. Influencing factors are likely to include the competitive and economic climate in which your venture operates and in larger organizations, the level of support that stakeholders have for the initiative you are trying to advance.

2. Review desired outcomes

“Begin with the end in mind,” advises Stephen Covey, author of the phenomenal bestselling book The 7 Habits of Highly Effective People (1989). Your decision-making process has a better chance of seeing a happy ending when the decision is motivated by a realistic purpose that you can clearly articulate and defend. It is essential that you understand what you want to achieve and why. It is also useful to decide the criteria you’ll use to define success. Before you commit to a decision, create a mental picture of what your company (or life) will look like once that proposed choice is in place—in the near term and 12 months later.

3. Consider different perspectives

Escape the trap of your inherent biases and invite different opinions to the decision-making. Start with the obvious—stakeholders and end-users who will live with the outcomes, along with those who will implement the decision. If you have a team, include its members in the process, for they surely bring to the table expertise and experiences that will enrich your understanding of the big picture, as well as factors that could influence its outcome. The unique viewpoints and wisdom of your team could possibly show you that don’t know what you don’t know!

4. Leverage relevant data and technology

In today’s digital age, there is every reason to turn to technology-supplied data to provide trustworthy insights that are grounded in objective information to guide your business decisions. Data-driven decisions are usually the most successful. You may have a history of making good decisions based on what your gut tells you, but you’ll be better served to allow (relevant) numbers to validate the power of your intuition.

There are numerous analytic values readily available to provide snapshots of company performance that decision-makers need to see. Your decision may benefit from a review and analysis of the number of qualified leads per month, industry benchmarks, annual sales of your products and services and/or the average dollar amount of new contracts signed per quarter.

5. Avoid analysis paralysis

While good data is essential, as is objective thinking and keeping the purpose of the decision in mind, it’s also important to realize when you have sufficient facts and figures to commit to a choice. It often makes sense to set a reasonable time frame for gathering information, and once you have enough in hand to make an informed choice, move forward.

Trust your judgment and remember that in most cases, all the information you’d like to have will not be available; nearly every decision is haunted by unknown factors. Boost your confidence by creating conditions that will promote effective decision-making when you align your decision with the vision, mission, guiding principles (values) and brand of your organization.

6. Overcome fear of failure

Risk is a factor in every decision because results are not always predictable. Along with good information, luck, timing and intuition are often credited with a decision’s success or failure. All leaders understand that unfortunately, not every decision will lead to a favorable outcome.

Instead of fearing failure, embrace it as a valuable learning experience when it occurs. Do a postmortem and analyze what went wrong; identify the root causes and determine how you can avoid similar pitfalls in the future. When the experience is applied correctly, failure strengthens resourcefulness and resilience and over time will eventually enhance your decision-making skills. A decision gone wrong is embarrassing and disappointing but push yourself to make lemonade from the lemons. You might find a way to fail-up!

7. Practice decision-making consistency

Consistency in decision-making is key to building trust and credibility among your team. If your choices waver based on mood or circumstance, it can create confusion and erode confidence. But you may instead find it helpful to revisit the same, or similar, criteria that were used for a decision whose outcome was especially positive.

If the approach you took, factors you considered and certain friends and mentors you consulted led to a successful outcome previously, those factors, adjusted to fit the question at hand, might be successfully applied to future decisions. Why not experiment? When you’re next faced with a big decision, apply some or all of the criteria you used to approach the question, choose and study the data and seek input from friends or family who have a history of giving you wise advice?

You may discover that it’s useful to evaluate, say, three to five qualifying questions first, then another three to five questions that are customized for your decision? A decision-making protocol that considers the same factors each time will bring objectivity, standardization and reliability to your priorities and judgment and help you avoid getting swept up in the emotional reactions of either reckless enthusiasm or panic.

8. Hone intuition through experience

Decision-making is often considered both an art and a science. It’s a competency that goes beyond algorithms and spreadsheets — it’s about accepting risk and seeking wisdom from data, lived experience, good advice and intuition. Furthermore, learning to recognize when it might be the most advantageous time to make a certain decision is another plus—- when you have the luxury of choosing the time to act, that is.

By adopting a big-picture perspective, leveraging diverse viewpoints and integrating data-driven insights, you will improve your decision-making skills. As you gain experience, your subconscious mind will develop a sense of pattern recognition, meaning you’ll remember what works and so you’ll do it again. Use this intuitive sense to guide you when data is unavailable or inconclusive.

Thanks for reading,

Kim

Image: Chess Grandmaster Pontus Carlsson (Colombia born, represents Sweden)) vs. International Master Espen Lie of Norway (R) in Malaga Spain, 2008

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Perfecting Your Pivot

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If the quintessential American motto is “change is good,” then in the business sector change finds its ultimate expression in the pivot. You have no doubt noticed that business publications often feature reports of a pivot executed by one entrepreneur or another. The pivot is the new American myth, a swashbuckling action-adventure narrative that stars a Luke Skywalker archetype who launches a start-up. If sales start tanking, our brave and brilliant entrepreneur-hero correctly diagnoses the problem, intuits the marketplace zeitgeist and engineers a flawless pivot that not only saves the company from bankruptcy, but carries it to phenomenal success.

These heroes’ journeys are exciting and tremendously appealing but as you know, reality does not unfold like scenes in a movie. What’s lost in the fawning admiration is the cold fact that a pivot is a complex process. Getting it right demands a deep dive into both your data and that of your marketplace. The ability to recognize the story that the data tells and the good judgment to know what to do about it is another requirement. A dose of good luck is the third resource you’ll need.

It may take a couple of disappointing quarterly financial reports to convince you that a change must be made, and soon, to avoid getting trapped in a permanent downward spiral. Once it becomes obvious that corrective action is necessary, your first challenge is to identify which aspects of the business need to change and what might be left in place.

Resist the temptation to assume that major surgery, i.e., a pivot, is the best remedy. Choose the course of action that data indicates is the most specific and least disruptive solution and should have the best chance of successfully turning the company around. The purpose of your research is to discover and confirm growth opportunities and how to either successfully enter a new market or hit the restart button on the market you’re in, by refining your methods. Carefully research the size of potential new target markets, your access to those customers and the competitive landscape.

For example, as you analyze the efficacy of your marketing strategy, you may realize that some combination of ramping up your inbound marketing activities to increase outreach to target customers, reassessing your pricing strategy and/or upgrading pre- and post- sale customer services provided could make a substantial positive impact.

Once you’ve analyzed your business and marketplace data, you would as well be wise to review your company mission and vision statements. Before making any big changes to the purpose or mission of your enterprise, make sure that the new direction of your company will align with your values and guiding principles. Or will your pivot necessitate a rewrite of your vision and/ or mission statements?

Pivot to solve a problem

Analyze your KPIs, with special emphasis on marketing data and revenue streams. Get input from your customer-facing team members and feedback from high-volume customers—both groups have wisdom to share. Every pivot is different, but every pivot must solve a problem. Following your analysis, you can develop your pivot strategy, the roadmap that defines the aspects of your business that you’ll pivot and the aspects that will support the new direction and can remain in place.

Your pivot plan will outline the steps you’ll take to execute the pivot. It should include timelines, resource allocation and key performance indicators (KPIs) to measure its success.

As well, encourage yourself to be confident once your decision is made. A pivot is a significant challenge but it is nevertheless a sign of robust strategic thinking and problem solving, essential qualities that support the long-term viability of your enterprise. Signs that a pivot might be necessary include:

  • Insufficient customer base
  • Weak brand equity
  • Unsatisfactory revenue and profit
  • Negative customer feedback
  • Overwhelming competition

Types of Pivot Strategies

Pivots offer customizable options—-there is no one-size-fits-all template. Your company’s pivot may involve a group of small changes that together result in a significant positive impact. Conversely, your pivot may be based on a very visible alteration in your signature product or service that precipitates a re-calibration of your brand and all the ways you market and sell it. Below are five of the most common pivot strategies:

Marketing Pivot: Signals a big change in your company’s core marketing strategy. Pivoting in this instance may include targeting a different audience, using more appropriate outreach channels, re-calibrating your use of inbound and outbound marketing techniques, or adjusting the company’s brand voice and messaging tactics.

Product Pivot: Describes a change of the company’s product or service offerings. Pivoting a product may include altering the product’s ingredients, features, or packaging. In a more dramatic approach, the defining characteristic of your pivot may be the introduction of new product or service lines to provide solutions that are more responsive to customer needs and priorities.

Brand Pivot: A branding pivot strategy entails one or more adjustments to a company’s characteristic image and philosophy. Pivoting a brand may include renaming the company (see Facebook to Meta), editing its mission to serve a new target market, updating the company tagline, or refreshing the visuals, e.g., the logo and/or color scheme used.

Pricing Pivot: In this choice, a company may change the pricing tier in which it has previously operated. For example, a retailer that originally priced in the mid-market tier may conclude that economy pricing will better reflect the perceived value of its products. The expected outcome is a broader customer base that generates greater revenues and increased profits.

Distribution Pivot: Closing all or most of a business’s physical locations in favor of operating in the e-commerce sector is a bold example of a distribution pivot. The strategy involves changing how a company delivers its products and services to consumers. Pivoting your distribution model could include expanding into new geographic markets, adding or discontinuing retailer partners, or introducing the franchise model.

Communicate and monitor

In advance of your venture’s pivot, encourage support by explaining the upcoming changes to stakeholders—employees, customers, investors. Outline the changes you plan to make and clearly articulate how those changes will benefit their relationship with the organization. Schedule videoconference meetings with each key constituency to discuss the pivot and make the case for why it is necessary.

Be certain that your explanation adequately answers the anticipated questions and potential concerns of each group. Consider creating a Frequently Asked Questions (FAQ) sheet for each stakeholder constituency. Finally, closely monitor the pivot’s progress as reflected in the KPIs you’ve chosen, as well as feedback from key members of your constituencies.

Thanks for reading,

Kim

Image: The Academy Drum and Bugle Corps of Tempe, AZ

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Go Agile

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Life brings change and it seems as if change occurs at a much faster pace these days. Then again, the same observation was probably made in the Middle Ages or even when the pharaohs ruled. The world continues to turn and every day is new and brings a unique set of circumstances. How we respond to fluctuating conditions has a big impact on our fortunes in life.

The ability to move quickly, whether to take advantage of goodies that unexpectedly appear or dodge something unpleasant, is a skill known as agility and it is worth cultivating. In business, the ability to incorporate agility into strategy, management and culture enables company leaders and team members to facilitate smart decisions that enable beneficial changes that can be instituted quickly and efficiently. This capability delivers a number of advantages, often making a business more competitive, sustainable and ultimately, more profitable. During periods of generally adverse business conditions, agility often makes the difference between keeping a business viable or presiding over its failure.

Benefits of an agile business 

  • Responding to new market conditions or competitors. Every business will at some point encounter a wily competitor or challenging market conditions. When agile practices are baked into your organization, the leadership team will be better prepared to adjust to evolving conditions. You expect change—you monitor the Key Performance Indicators, you pay attention to the competitive scene, you follow industry developments that help you anticipate what might impact your organization, for good or ill. You are accustomed to making decisions and changes to accommodate new realities. The agile business is resilient.
  • Solving and responding to problems. The pandemic shutdown has been Problem #1 for most of us. Hollowed out industries, disappearing clients, supply chain delays and difficulties in finding help thanks to the stimulus payments that have made staying home more profitable than working for some. These and other disruptions can prevent you from efficiently serving your customers. But leaders of agile businesses have been training like a prize fighter, giving the entity quick reflexes, effective offense and defense strategies and stamina to weather the storm. You’re able to recognize what may become a problem and proactively institute alternatives that will soften the blows and limit damage. The agile organization is prepared to defend itself and prevail. 

Tools of an agile business

  • A Robust data streams. Agility won’t help you unless your decisions and actions are based on 1.) objective data and 2.) you measure what it makes sense to measure. Accordingly, your first goal should be establishing credible and relevant streams of data for key aspects of your business. You should consistently measure your performance in every department, and across the entire business. Analyzing and interpreting the data will help you figure out which actions to take next.
  • Fast decision-making. Agile businesses are capable of making important decisions quickly. That capability requires both preparation and courage. If a problem arises, a quick decision can mitigate its impact. If a competitor emerges, your agile business may be able to pivot in a matter of weeks, instead of months. This usually means avoiding the development of slow, bureaucratic systems in favor of those that support decisiveness and action. Good data, especially in the form of well-chosen KPIs, is essential, as is the willingness to act on it.
  • Flexible systems. Flexibility is crucial for agility. If your technology infrastructure and operational workflows can’t accommodate rapid-fire changes or expansion, they’re not going to support agility.
  • Innovation. Your organization also needs a mechanism and encouragement for innovation. For agility to be effective, it needs to foster and support novel ideas, including ideas for new products and services.

Practices of an agile business

  • Encourage entrepreneurial thinking. If you’ve built a good team, you’ll be able to extend to them a degree of autonomy. Empower your employee in to develop a sense of ownership and behave as if a steward, a stakeholder, of the enterprise. Encourage them to solve their own problems and allow them to make their own decisions whenever possible. The more autonomy your employees have, the faster they’ll make decisions (and the more agile your business will become).
  • Foster clusters of small teams. Big, hierarchical organizations have some advantages, but they’re inherently unagile. Instead, it’s better to work closely together in small teams. Try to avoid becoming overly bureaucratized.
  • Avoid becoming too accustomed to anything. Don’t get too attached to anything in your business, including people, software, workflows and even the company culture. You need to remain flexible and willing to incorporate new ideas.
  • Cut whatever isn’t working. Whether it’s a new tactic or a strategy with a long history of producing results that at one time pushed the company forward, you need to be willing to cancel whatever isn’t working. If it doesn’t provide an objective benefit to your organization, get rid of the dead weight.
  • Check in regularly. You should have reliable metrics to inform you of your progress and check in with them regularly. While you’re at it, ask for feedback from your employees and ask how they think the organization could be made even more agile in the future.

Thanks for reading,

Kim

Image: Olga Korbut, superstar gymnast from Minsk, Belarus (formerly USSR) at the 1972 Summer Olympics in Munich, (West) Germany. Korbut won four gold and two silver medals at the Games.