Business Partner Magazine - Issue 42

MESSAGE FROM THE EDITOR

Welcome to Issue 42

To say it has been a tough year so far for many would be an understatement. As the novel Coronavirus continues to make its presence felt, now more than ever, it is essential to focus on your business strategy and marketing strategy to ensure that your business survives. But it is not just your business that you need to focus on; you also need to think about your health. Think about your workload and getting help, from a permanent personal assistant. Having an assistant will help you get some balance in your life.

Our cover story - 4 B2B Marketing Strategies Used By Experts – offer insights into the marketing strategies used by experts, which can be quickly adopted by you in your business.

While the article - Things to Consider When Creating Your First Business Strategy – is aimed at new business owners, it may be the ideal time to reassess your current business strategy and go back to the drawing board. Whether you are a new business or one that has been going for some time – you will get some great pointers. Also, in his article 6 Things Every Entrepreneur Hates – Raj Dosanjh gives us a reality check on the life of an entrepreneur.

Malik Muhammad shares his thoughts on the importance of clarity in correspondence and communication. You cannot afford to offend or cause confusion. Think about safeguarding your small business and protecting your business reputation.

We would like to wrap up this edition with another success story, as we look at DJ software VirtualDJ, in our interview with their CEO Stephane Clavel. This leading DJ software has made it easy for anyone to get started in the world of DJing, whether for fun, or business. Read on to discover more about VirtualDJ, the most popular DJ software, with over 150 million downloads, and sold in more than 180 countries.

Until next time, to your success.

Sandra

B2B Marketing Strategies 4

USED BY EXPERTS

One of the key players in the business world are business-to-business or B2B transactions. You’re probably offering products and services to companies or other businesses, and wondering about the best strategies to close a sale. But are you aware of the best B2B marketing strategies that are applicable during this most trying time?

Experts utilize different B2B marketing strategies to attain their goals, which will be

discussed further in this article. Learn from the experts by knowing and understanding how they’ve developed and implemented their B2B marketing strategies.

What Is B2B?

Business-to-business or B2B refers to a type of business transaction between two or more companies. It may involve a wholesaler, a manufacturer, or a retailer. Instead of a business transaction between an individual consumer and a company called business-to-customer or B2C, B2B involves businesses.

Best B2B Marketing Strategies Used by Experts

1. IBM: Revolutionizing B2B Customer Engagement

International Business Machines Corporation or IBM is an American technology company operating in more than 170 countries with US$77.14 billion as of 2019. The company specializes in artificial intelligence, cloud computing, and sales of software and computer hardware.

In an IBM Institute for Business Value research by Hans Bracke, et al., they shared the holistic approach towards a revolutionized B2B customer engagement based on the B2B strategies used by different successful industrial companies. Like business-to-consumer or B2C companies, industrial product B2B customers don’t only demand better products and services, but also better experiences.

Check out the findings of the research:

• Southwire: This is a major cable and wire producer in the United States. The company transforms the customer experience by developing a new online portal focused on self-service capabilities, which establish the foundation for digital

customer engagement. Also, Southwire deployed Systems, Applications, and Products or SAP commerce solutions that resulted in launching an online product catalog having a purchase path. It provides real-time data on order, stock, and delivery status.

• Carter Machinery: This is a construction equipment retailer based in the United States. The company uses powerful analytics solution adopting a customer profile system to approach the right B2B customers at the right time to reduce the churn rate.

B2B customers are also people who expect to purchase products or avail of services wherever, whenever, and how they want to. However, B2B businesses lack the right strategies to meet customerexperience aspirations. IBM researchers suggest industrial product organizations to focus on developing effective B2B marketing strategies and focus on culture, data, technology, channels, skills, and organization for better B2B customer engagement.

2. Cisco: Social Media B2B Marketing

• Smart B2B companies consider “fans” as an important ingredient of successful inbound marketing strategies. Cisco

took this unique approach when they thought of rewarding some of the company’s biggest fans by creating a SuperFan Spotlight Facebook page. It rewarded members who share good news and relevant information about the multinational telecommunications technology company. Here’s how B2B companies are using social media marketing:

• Promote testimonials by running contests.

• Expand the reach of announcements and news.

• Share videos and build thought leadership and credibility.

• Generate leads.

3. Skype: Connecting With A Personal Touch

Skype is described as a B2B business service. It’s a product of Microsoft that allows video conferencing from anywhere in the world. Because Skype has helpful features, such as chat, voice, and video, sharing experiences is possible, which also gives business communications a personal touch. For B2B businesses starting out, using Skype is a cheap way to connect with people.

4. Experts Use CRM Solutions

For a successful business, customer relationship management or CRM solutions help you attain your B2B business goals, humanizing your B2B marketing strategies. Using a reliable CRM platform will help you capture a complete view of B2B clients so you can approach with personalized communication.

CRM software is a mobile-friendly solution to the growing needs of your customers and your business. Because data collection is done in real-time, reporting is made easier. Having a CRM software means having a system that is flexible, configurable, highly secure, and robust, so you can focus on providing excellent products and services to your B2B customers.

Here are the benefits of using CRM solutions for B2B companies:

• Stay Competitive: If you want your business to remain competitive, it’s time to think about investing in a good CRM software. While traditional methods of doing business processes might be enough for you or your employees are already experts and used to it, you don’t want to be left behind because you settled with the norm. Technological solutions, like CRM software, will provide you with tons of benefits more than you can imagine.

• High-Level Data Security: Data security should be your utmost priority. Human involvement, such as manual entry, creates room for errors and data leaks. With CRM software, you don’t have to worry about data security because managers can set restrictions through setting changes, so the only ones who can access particular information are those who are authorized.

• Ideal System for Scalability: If you see your business growing or branching out soon, or you have plan to expand or going global, then you’ll need a CRM software. It helps your business accommodate more resources, process more orders, and evaluate B2B customer behaviors along the different stages of the sales funnel.

• Cost-Effective: CRM software can help reduce operations and administrative costs while providing real-time and accurate information. It allows you to manage operations proactively, avoiding delays and disruptions and helps you make smarter and quicker sales and marketing and other major business decisions.

Experts have already shared their best practices when it comes to creating the most effective B2B marketing strategies. Social media marketing, use of CRM, communication tools, and other software, applications, and products or SAP solutions are the results of digital technology.

They are effective B2B marketing tools to help businesses broaden their B2B client reach, traffic, and sales. Most of the B2B strategies shared all boils down to a more personalized and humanized approach of communicating with B2B prospects, as well as new and loyal clients to help realize short-term and long-term business goals.

5 Things to Consider When Creating Your First Business Strategy

You’ve stumbled onto the perfect idea for your new business. Now, all you need to do is bring that new venture to life.

While many entrepreneurs are keen to jump straight into the most exciting parts of business growth, like branding and marketing, it’s important not to get ahead of yourself.

The first thing you’re going to need for any successful strategy is a comprehensive business plan. This guide can help you navigate some of the initial challenges that business owners face.

Your business strategy acts as a compass, telling you which direction to go when you’re not sure how to grow your new venture.

A great plan can also give you a life raft when disaster strikes, by letting you know how to get your operations back up and running as quickly as possible.

Here are a few things that you need to consider when creating this all-important document.

Your Vision Statement 1

A business plan is an excellent opportunity to think about what you really want to accomplish with your company. By the time you’re finished writing, you’ll know where you are today, where you’re heading, and how you’re going to reach your goals.

However, it’s much harder to reach your targets in any business environment if you don’t have a clear view of where you’re heading.

That’s why many successful strategies start with a comprehensive vision statement. Your vision statement describes your organization’s future direction and where you want to be in 10-20 years.

Remember, your vision statement needs to be precise, time-bound, and realistic. Don’t hold yourself to standards you can’t reach.

The Mission Statement

Mission statements and vision statements often go hand-in-hand. However, it’s important to remember that they’re not the same thing.

Your vision statement casts your eye forward to where you want to be several years from now. Your mission statement outlines what you’re going to do in the short-term to achieve your long-term vision.

To craft a reliable mission statement, you need to think about the how of your business, as well as the why.

What are you aiming for in the long term, and how will your current behavior help you reach your goals?

For instance, if you want to stand out as a leading environmentally-friendly option for your customers ten years from now, you need to start building relationships with eco-friendly suppliers now.

Your Target Audience

Few things are more important to any entrepreneur than understanding your target audience. Everything that you do as a business owner needs to reflect the needs and expectations of your customers.

Start by asking yourself which customers will most likely need the product or service you have to offer. You might have multiple segments in your audience that your solution appeals to.

For instance, if you sell accounting software, then your primary audience might be accountants. Your secondary customer base could include business leaders who are buying software for their in-house professionals.

Once you know your target audience, build user personas that you can use to guide your team whenever you’re making marketing and sales choices.

Your personas need to include the most important details you know about your customers, from their location to their age range and pain points.

Don’t forget to regularly revise your personas. As technology and buying habits change, you should conduct periodic checks and see whether your strategies require some realignment with shifting trends and customer buying patterns.

4

Identify Potential Risks

It’s important to have a positive attitude when launching your own business. However, it’s also worth noting that things can very quickly go south in any company. You need to be aware of the risks that might come your way to protect yourself from common issues.

business data online, ask yourself what you’re going to do if your storage system stops working as it’s supposed to. How do you defend yourself against a potential breach, or recover data that’s lost?

Building a disaster recovery plan and business continuity plan into your strategy will ensure you’re prepared for anything. Your disaster recovery plan will help you to protect yourself whenever something goes wrong, while your business continuity plan will keep the lights on.

5

Know Your Competitive Advantage

Finally, make sure you know what makes your business special in your chosen industry. No matter how unique you think your product or service is, the chances are that there’s someone out there offering something remarkably similar to you.

If you want to convince your audience that you’re the best choice for them, you need to provide something truly special.

For instance, if you store a lot of your

For some companies, the best competitive advantage will be a dedication to excellent customer service and support. Today’s clients are more interested in excellent experiences and trustworthy businesses than low prices and richer feature sets.

Make sure that your competitive advantage doesn’t revolve entirely around a lower price point. You have operations to run and employees to pay.

Trying to stand out by being the cheapest company often leads to a race to the bottom in pricing, where it isn’t easy to maintain a profit.

Get Your Strategy Right

Don’t make the mistake of rushing into your new venture without the right plan. Before you start working on your marketing campaigns or preparing your sales teams, make sure you have the right strategy in place.

A good business plan will stop you from making any dangerous and expensive mistakes on the path to success.

After all, you want to build a business that will last. Starting your venture with a solid foundation will help your business weather through any turbulences or market volatilities in the future.

About the Author

Ashley Wilson is a content creator, writing about business and tech. She has been known to reference movies in casual conversation and enjoys baking homemade treats for her husband and their two felines, Lady and Gaga. You can get in touch with Ashley via Twitter.

6 Things Every Entrepreneur Hates

People think being a business owner is lucrative, exciting, and borderline glamorous. While they’re not wrong, there are other, much less glamorous aspects to entrepreneurship.

Some entrepreneurs get lucky and stumble on great success and financial freedom from the start. But for most, it takes years of hard work, dedication, and tireless effort. The truth is, there are pros and cons to becoming an entrepreneur.

Here we’ll cover six things that every entrepreneur hates to help you prepare for the road ahead.

1. BEING THE BOSS ISN’T ALL IT’S CRACKED UP TO BE

As a business owner, the buck stops with you. You’re the judge and the jury. And while this has its perks, it also comes with a lot of unwanted and unexpected responsibility.

The first thing you need to realize is that no one will care about the success of your business quite as much as you. It’s difficult to find loyal, hard-working employees. That means a lot of the responsibility and stress falls squarely.

Chances are, you’ll work over 10 hours a day, 7 days a week depending on the type of business you own. It will likely be several years before you can take a vacation or work a regular 40 hour week. This demand can be exhausting.

Your job is to cover for employees who call out sick, which means sick days are another luxury you simply don’t have - at least not from the start.

The truth is, you can’t afford to close your doors. For many entrepreneurs,

their business is their livelihood. It’s their bread and butter. And with so many small businesses failing, being an entrepreneur comes with more risk and uncertainty than most people realize.

Just a few burdens include calculating payroll, hiring and firing staff, dealing with suppliers, paying overhead costs, and handling customer complaints.

One way to combat some of this stress is to hire like-minded, reliable employees.

2. PUT YOUR MONEY WHERE YOUR MOUTH IS

The old saying goes, you have to spend money to make money. And

entrepreneurship is no different. Unless you inherit a family business, you need money to get things off the ground. This is where pre-planning comes into play. Not only do you need the start-up funds but you should also have an emergency stash for rainy days and unforeseen expenses.

Once you start making money consistently, you can rely on this revenue to pay for overhead costs like rent, payroll, inventory, and advertising. There’s only one small problem with this plan. What happens when your customers and clients don’t pay?

Some businesses bill clients later on for their products or services. While this is common practice, it also carries the risk of non-payment.

Late payments can take your business out at the knees. All entrepreneurs hate when customers don’t pay but it impacts smaller businesses most. Start-ups rely on that income, whereas larger corporations have other resources to pull from.

A few late payments or unpaid invoices could mean the difference between paying your electric bill and working in the dark!

One way to avoid this problem is by creating clear payment schedules. When customers are late for several weeks or months, you may have to stop doing business with them until they get caught up.

If possible, always collect payments upfront or when you deliver the product or service. Then there’s no confusion or game-playing. Some businesses even set-up automated payments for regular customers who get the same service on a routine basis. In this case, entrepreneurs can begin to rely on these automated payments.

In time, you can hire other people to do these jobs for you, but nothing will take away from your hands-on experience. Your employees will also remember the time and energy you put into getting your business off the ground. This creates mutual respect, which goes a long way in the business world.

3. DO THE DIRTY WORK 4. HUMBLE PIE

Don’t be fooled into thinking that being a business owner is all fun and games. It’s also not about sitting in your big, cushy office pointing fingers and directing employees. While you may reach this level one day, it won’t be day one.

To be a successful entrepreneur you need to get your hands dirty and work alongside your employees performing basic (lessthan-glamorous) tasks.

Most small businesses start out with only a few employees. If you’re lucky, they’re trustworthy and dedicated. Either way, a few employees means dividing the work amongst yourselves. Yes, you too are included in this equation. You’ll need to perform some unflattering jobs.

While this may seem like something entrepreneurs hate, with the right attitude, you can learn from this part of building a small business. Not only do you gain the respect of your staff by working alongside them, but you also become part of creating the company’s foundation.

Let’s face it. You can’t please everyone. Not today, not tomorrow, and probably not next week. Whether or not the customer really is right, part of being a successful entrepreneur is knowing how to pick your battles and when to swallow your pride.

Customer service is an integral part of any small business. It only takes one unhappy customer to spread negativity and ruin your reputation. This is a hurdle some entrepreneurs never overcome. Don’t let this be you.

In today’s day and age, online reviews are even more damaging. They spread over the world wide web like wildfire. While larger companies with thousands of dedicated followers can withstand and quickly recover from a few bad reviews, small businesses don’t have that same luxury. Even just one complaint calls for swift action and damage control.

But your reputation isn’t the only thing that stands to get hurt. As an entrepreneur,

your ego is also at risk. When people start talking negatively about your business, it’s hard not to take it personally. You may even start doubting yourself, your abilities, and your entire business idea.

As founder of Rentround, Raj Dosanjh explains:

“As an entrepreneur, you need a strong mental game. Let certain things roll off your shoulders, smile, and nod. While it can be hard to do this at the moment, you’re making a long term investment in your company’s success.

When it comes to online reviews, no reaction at all is almost as damaging as a negative reaction. Don’t engage online trolls in a fight but also avoid ignoring their negative comments altogether. This shows potential customers that you can’t handle criticism.

Instead, respond in a timely and professional manner. Do your best to make things right without compromising your integrity or your morals.”

finally coming together. You dedicate every waking hour to making sure your business succeeds. Unfortunately, you may be the only one.

No employee will ever be as passionate about your business as you are. It’s not because they don’t care or have no work ethic. They simply don’t share the same emotional connection or attachment. And that’s okay!

But employees aren’t the only ones who may leave you wanting more. If your business uses third party suppliers, don’t be surprised if they brush you off or leave you waiting for deliveries and inventory.

To big-name suppliers, your business is just a drop in the bucket. That’s not to say they don’t value your business, but they also don’t lose sleep over making you wait. Sadly, most entrepreneurs can’t wait for their supplies. Empty shelves and lack of inventory means lost sales and customers -- two things a new business can’t afford to lose.

Try to be patient with both employees and staff when they don’t take things as seriously as you. It also doesn’t hurt to have a backup plan. That might include a nest egg of extra money, alternative suppliers, or a savings plan.

Most entrepreneurs live and breathe their business. It’s your baby. You’ve likely been thinking about it for years and now it’s

5. YOUR BUSINESS MAY NOT MATTER AS MUCH TO OTHERS

6. LOW BLOWS ARE PART OF THE GAME

There’s no room for hurt feelings in the business world, but that doesn’t mean they don’t happen. Remember how we said your business is your baby? Well, when people start talking about your “baby”, you’re bound to get defensive and territorial.

While caring this much about your business is seen by some as a downfall, it actually proves how invested you are to succeed. When you receive a bad review online or over the counter, it feels like a punch to the stomach. The good news is, now you know what your pain points are and can start working to improve them. This could be something as silly as your operating hours or refund policy to more important factors like website design or

Accepting these shortcomings is all part of the game. The best thing you can do is to check your pride at the door and don’t take things personally.

Emotions only complicate things. Try to stay focused on the business plan and your long-term goals. Everything else will fall into place.

As rewarding as entrepreneurship can be, there are also some aspects of it that business owners hate. These are just six of the hurdles that not everyone admits to or realizes are part of owning a business.

When times get tough and you’re feeling discouraged, try to remember exactly why you started the business and where you’d like to see yourself in 5 years. This motivation will keep you going and moving closer to your goal.

About the Author

Raj Dosanjh is founder of letting agent comparison site Rentround.com. Raj also runs a consultancy, working with some of the worlds largest banks. In his spare time, he also runs his own martial arts club!

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ADVANTAGES OF HIRING A PERMANENT PA OVER A TEMPORARY PA

With the dynamic environment in the world today, it is quite challenging to balance between our personal lives and work. While you cannot get help with your personal life, your job is another thing. Irrespective of whether you are an employee or an entrepreneur, delegating some of your work to a personal assistant can change your life entirely and potentially increase productivity. You may choose to seek the services of the best PA recruitment agency in your area to help you hire personal assistance.

Why Hire a PA?

A personal assistant can become a treasured member of your workforce in more ways than one. They can help manage your calendar and organise your to-do-list to ensure that you don’t miss on any critical activities, events or business meetings. They also function as a gatekeeper to free up your time to focus on essential tasks of business or even family. Whether you get a temporary PA permanent PA, they will also run small errands for you, which will save you time to complete the task at hand.

Why is a Permanent PA More Advantageous Than Temp?

Personal assistants are available on a permanent or temporary employment basis. A competent PA recruitment agency will provide you with both options when sourcing for extra help. Nonetheless, it’s important to vary how a permanent PA will offer more than the temporal option.

1. Knowledge and Familiarisation

Whether weeks, months or years, the length of time an employee stays in your company determines the amount of knowledge they will gain. This fact means that a permanent employee earns a certain level of information about your company that cannot be obtained by a temporary one. The importance of gaining such knowledge varies with the different roles each employee plays. For instance, jobs like litigation and human resource management are best handled by people with vast experience and history of the company rather than a temporary worker. Also, no matter your brand purpose, permanent PAs are better at handling marketing jobs than temporary PAs as they are well versed with the ins and outs of the business.

2. Loyalty

Unlike a temporary PA, a permanent employee is bound to develop a close relationship with their place of work. Depending on the longevity of their stay, they are bound to grow fond of the company and other employees. The importance of this relationship is that they will eventually become loyal and share the same objective as the company. As such, they can give their all to your company and feel the need to aid in its development. They are also more likely to withhold information about your company to competitors, unlike a temporary worker who may use any skills they may have learnt in your company to root for themselves in another.

3. Culture

Personal assistants who come and go, don’t get the time to fully immerse themselves in a company’s culture and social activities. The benefit of having a permanent staff member is that they will learn about your brand’s culture and social activities. In turn, they get to develop a close relationship with other staff members, which facilitates a collaborative workforce that stands together to bring results to your company.

4. Provide Long-Term Results

Sometimes you may decide to create a longterm marketing plan for your business and realise that you need extra help. In such a project, it would be in your best interest to hire a personal assistant on a permanent employment basis for that particular project to be successful. The main advantage of such a permanent employee is that they provide consistent services that will help make your project a success. They are also

more likely to put more elbow grease into the project to ensure its success because they know they are in your company for the long-haul, unlike temporary staff.

5. Reliable

A permanent staff member will also provide reliable help when you need assistance or information about any project you pursue with the future. You can rest assured that they will report to work and perform their duties with due diligence as they have a commitment to your company. They will also be available to take additional roles when there’s need to cover for an absent employee.

6. Improved Performance

The financial consistency and job stability associated with permanent employment reduce stress levels in employees. In turn, this translates to improved performance that’s attributed to a focused and healthier mind.

Personal assistants, whether permanent or temporary, come in handy in reducing your workload and saving you extra time, which helps you lead a balanced work and personal life. Permanent personal assistants are loyal and well versed with the company’s culture and goals than temporary PAs. They are also reliable in providing better services and improved performance than their temporary counterparts.

About The Author

Sean Begg Flint is the founder of Position Digital, a digital marketing agency for ambitious start-ups and growing brands. He is passionate about helping businesses increase their online presence through creative content and targeted outreach.

THE IMPORTANCE OF CLARITY IN CORRESPONDENCE AND COMMUNICATION

Have you sent an email that’s been misinterpreted? Did you ever feel slighted by the body language of a colleague? Has your tone offended someone with whom you were engaged in conversation? Clarity in correspondence and communication will save time and, in many instances, money as we navigate our personal and professional worlds.

This also applies to business dealings for the context of this article. Communication may be defined as the imparting, or even the exchanging, of information. This is done orally, through writing, via body language or other contemporary mediums such as texts, WhatsApp, Zoom and social media

platforms. You may wonder why effective communication is important so let us look to one of the most influential authorities in this field for guidance.

Professor Albert Mehrabian conducted two major experiments in 1967 that are still relevant in 2020. He studied the importance of non-verbal communication and the effects of conflicting messages. The results of his studies created powerful data that served as the basis of a communication model. This model demonstrated that 55% of communication is associated with body language, 38% relates to the tonality, intonation and volume of one’s voice and 7% consists of the literal content of the message.

Mixed messages in business will create confusion in the minds of customers. Congruence in all aspects of connecting with the customer is predicated on effective communication across the board. Nike has the famous tagline: Just Do it. In light of the recent global uproar over the death of an American citizen at the hands of a law enforcement officer; Nike produced an advert ‘For once, Don’t Do It’. Said advert promotes inclusiveness, respect for diversity and fairness and a love for humanity while speaking against behaviours that challenge progress. The advert was a play on the tagline, yet still on message. The communication was clear and brand consistent.

Communication and correspondence require thought and attention to detail. Read through your emails after the spell check. Structure company letters in a concise way. Avoid lengthy paragraphs and use headlines for major points. Use language that resonates with your target audience. Actively listen to peers, coworkers, in store customers and the person on the other end of a telephone call. Your sartorial style speaks to your business representation so show up as you would like to be considered. Express yourself with confidence. Engage with the person you are speaking with and ensure all parties to the conversation feel included as best as possible.

Brand messaging is a larger scale of interpersonal communication. The emotional connection that develops through said communication will improve the quality of our relationships, the faith in our business brands and the financial remuneration that follows. Social media has obviously impacted the promotion of business directly to the customer. The personal nature of this access means businesses must be very clear in their communication and precise in their message because after a few seconds; the potential customer is gone.

Malik Muhammad was raised and educated in Jamaica and read law in London. He created The Empowerment Mastery System to influence, help and inspire businesses to cultivate their visions. Malik enjoys vegan cooking and quad biking. He is an after-dinner speaker, event host and convenes empowerment seminars internationally. His latest book COFFEE & CONTEMPLATION: a taste of empowerment is available on Amazon.

About the Author

Safeguard Your Small Business Today

If you’re thinking of starting your own business, you’ll want to do everything you can to increase your chances of success. As well as creating an innovative way to engage your target audience and refining your products or services, you’ll also need to consider how you can safeguard your commercial reputation.

Most business owners overlook this important issue, particularly when they’re first starting out. However, safeguarding your firm will help to prevent financial, legal and reputation damage in the future. To learn more, take a look at these key safeguarding measures that could save your small business:

1. Implement health and safety protocols

No matter what size your business is or what industry you operate in, you’ll need appropriate health and safety measures. From keeping members of the public safe in your premises to drain relining in the event of leaks; there are a myriad of things you’ll need to address. A comprehensive risk assessment is a good place to start but be sure to identify all relevant health and safety regulations that apply to your sector.

2. Have contracts professionally drafted

When you connect with a potential supplier, business partner or client, it’s easy to make verbal agreements. Although verbal contracts are valid, they’re tricky to prove. By having everything in writing, you can ensure that contracts can be referred to at any time. However, drafting your own contracts is rarely a good idea. Contract law is complex and trying to draft your own agreements could leave you at a disadvantage. Using established templates or having bespoke contracts drafted could save you a significant amount in the long run.

3. Get the right insurance

All businesses need some form of insurance, even if it’s only public liability insurance. However, there are numerous other types of insurance that will benefit your firm. Employee liability insurance, business disruption insurance and product liability insurance are just three types of cover that

might be relevant to your business. Before taking out a policy, talk to a specialist to determine what level of cover you need.

Remember – some policies will include the cost of relevant legal fees, so choosing a more comprehensive policy could be a cost-effective way of ensuring you’ll always have the help you need if something goes wrong.

By exploring your financing choices now and reassessing them at regular intervals, you’ll be aware of what options are available to you, should you need to rely on them. While it’s easy to enjoy your success when things are going well, it’s essential to have contingency plans in place for when you hit bumps in the road. By doing so, you’ll give your business the best chance of success.

4. Build a strong brand Protecting Your Enterprise

When it comes to safeguarding your business, protecting your brand and your reputation is extremely important. Just one bad online review could result in you losing custom, while a spurious lawsuit against your firm could cause financial harm that you can’t come back from.

Reputation management can be tricky but there are many firms that specialise in this area. However, building a strong brand from the outset will give you the foundation you need to protect an enviable reputation. When your target audience recognise your brand as being trustworthy, honest and of high quality, it will be much harder for anyone to harm your corporate reputation.

5. Explore financing options

As a small busines, it’s likely you’ll be heavily reliant on your cash flow. From time to time, however, external factors may affect your trading abilities. If you don’t have financing options in place, you may find that you’re unable to continue operating, which could spell the end of your business.

There’s no doubt that starting a business can be fun and exhilarating. When you’re creating a brand, planning a launch event or securing your first sale, the last thing you’ll want to focus on is the potential for things to go wrong. However, a savvy business owner is someone who is aware of the risks and take steps to mitigate them.

Spending time assessing how your business could fail or lose money will give you the impetus to prevent these situations from occurring. Essentially, you’re making sure you’re aware of the worst case scenario and taking steps to avoid it.

Even well-established international brands find it tricky to bounce back from reputational harm, so taking steps to protect your small business is essential. With the right strategy, you can increase your chances of being successful in the long-term and enjoy running a secure, profitable business.

Since the lock down began, there has been a huge increase in the use of technology and software. With this increase in demand, we have also seen massive improvements in the technologies out there.

This has been the case for VirtualDJ, who just one month after releasing their game-changing technology, have announced a new version with significant improvements. In this interview with Stephane Clavel, CEO and owner of Virtual DJ, we will learn of the new technology that has put them in the spotlight.

Please start by telling us a brief history of Virtual DJ

VirtualDJ started 24 years ago, with the mission to make DJing accessible to everyone.

We turned an industry that used to require thousands of dollars and months of hard practice to just begin, into an art that is now fun and immediately gratifying to anyone who wants to try.

So VirtualDJ was initially the entry-level DJ software, that everybody started on.

But we also spent the last 20 years constantly researching and innovating new technologies that are defining digital DJing today.

And today VirtualDJ became a professional tool that is not only used by new DJs, but also by established professional DJs.

Music enthusiasts are raving about the real-time track separation. What makes this a game changer?

Real time track separation is the latest of such innovative technologies. But it’s also different in the sense that this time, it’s not merely a technology that makes mixing easier or faster, but it’s something that opens the door to making new mixes that were simply just not possible before.

Separating tracks in real-time has always been the holy grail of DJing. We can’t wait to see what creative DJs out there will make with it.

The Virtual DJ software is popular with many professional DJs, but is it something that a beginner can use too?

Yes, even though many of the recent features and innovations are focused on the professional market, we still make sure that VirtualDJ stays true to its core mission, to make DJing accessible to everyone.

The app itself even has 4 “modes” (beginner, essentials, pro and performance), to be able to quickly adapt itself to beginners or pros at the click of a single button.

What tips can you give to users to get started quickly and to get the most out of the software?

Especially now with this new track separation technology, mixing has become

even more fun and artistic than before. People who are new to DJing can just try to put together different songs on each deck and play by isolating the vocal of one while removing it from the other, and instantly create fun remixes. Experienced DJs on the other hand, will find that they can now control the energy of the mix by playing with the hihats, taking the bass lines from some old funk track and mix it in with the vocals and beats of another, and just take their mixes to new heights.

Without revealing any secrets, what can you tell us about your future plans?

The current state of our track separation technology is already impressive, but we still plan on improving it even more. But in parallel, we already started to work on our next big innovation. If we finish it as fast as I think, we’re going to have a problem with our naming strategy (we won’t be able to call it VirtualDJ 2022 if it is to be released early 2021 :D).

VirtualDJ is the most popular DJ software, with over 150 million downloads, and is sold in more than 180 countries.

VirtualDJ significantly improves the sound quality of the separated stems. It also gives additional control to the DJs to adjust in real-time a bleeding parameter, and to finetune even more the quality of each track.

More about VirtualDJ

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