Neil Haboush | Top Global Business Risks

Global Business Risks 2020

To the outside world, the global business risks of the past years might not be any different from the ones that are to come in the next decade. However, this might not be the case and as a business owner, it is important to keep abreast of what it is to come. In the recent survey, executives and decision-makers including Neil Haboush have identified the major global business risks that will shape 2020 and in the years to come.

What are these global business risks? Neil Haboush, a top executive in a leading company, brings to you lists of top business risks every entrepreneur needs to know.

1. Cyber Attacks

Cyber-attacks rank as the most important global business risks attacking organizations globally. With business going digital, threats to data, vital information and documents are increasing exponentially. Businesses are faced with increasing cyber-attacks of data breaches, system downtime or IT failure to mention but a few. The target most times have been large organizations being exposed to various cybercrimes. Ransom ware is just a few of the whole picture- Businesses can find themselves struggling with repairing a reputation they have built for years or struggling with economic indigence due to the unavailability of critical data. Either you are a large organization or small business, cybercrimes might be lurking around the corner. Understanding the level of risk and the likely sources will be a great way to understand how to respond says Neil Haboush.

2. Innovations and Technologies

Emerging technologies can require new skills or extra efforts on organizations’ parts to train existing employees. Artificial intelligence, 3D printing, block chain, nanotechnology, Internet of things (IoT) autonomous vehicles and so much more will put small businesses who could not invest in these technologies at a disadvantage. Moreover, these innovations can put pressure on national and international securities, disrupts the economic stability and increase threats to cyber security.

3. Changes in Legislation and Regulation

From taxes to tariffs, to interest rates, to Brexit to protectionism, politics will affect the operation and profitability of businesses in 2020. In 2019 alone, business operations have been affected by almost 1300 US new trade barriers. Latin America is still experiencing political unrest, China is becoming more assertive with its foreign policy, and the European Union will likely brace up for antitrust battles with the US tech giants. These are evidence of increased divisiveness, fractious international relations causing pushbacks on international trade.  National politics in different countries are imposing various legislations and regulations and this is not stopping anytime soon.

Read More – https://medium.com/@neilhaboushjudgement/2020-global-business-risks-507f45db47f4

Neil Haboush | Major Business Startup Expenses

Neil Haboush-Business Startup Expenses

You are about to embark on a wonderful bummy- jumpy business ride and you have got the plans laid out. Office space and furnishings are all ready, insurance cost is in place and you simply can’t wait to see your business startup scale up the success ladder says Neil Haboush. However, before you get caught up in the excitement of the moment, here are other things you might have ignored during your preparation.

Neil Haboush shared 4 most important business startup expenses every aspiring or young entrepreneur should know.

1. Online Presence for Business Startup

Having an online presence is very crucial for any Business Startup who aims to succeed. Some business might require a brick and mortar store, but having an online presence is still required says Neil Haboush. There are various social networking sites such as Facebook, Instagram, TikTok, Linkedin and the more where businesses can communicate with consumers, earn their trust, develop good relationship, make sales and build brand reputation. The good news is, these sites are free.

Moreover, with 80percent of people making an online purchase, having a professional website is very crucial to growth. Your website will communicate your brand, provide information about your service/products, and include contact information and much more. In fact, any reputable company is expected to have a website that projects the services provided or products to be purchased. However, there is more to it than you think. It requires a user-friendly, clean, professional-looking website that will demand some bucks

2. Inventory for Business Startup

Inventory can be a bit tricky to determine when you are just starting but it is better to be prepared beforehand and include it in your business start-up budget. Not all businesses require an inventory especially if you are providing a service. However, in case of ecommerce, consumer goods, retail or manufacturing, inventory is most likely part of your business. Careful planning, vigilance and inventory management is essential. You don’t want to have overstocked goods due to low demand neither do you want to lose out on customers or sales simply because you are out of stock. Spoilage, damage, and loss of money can also occur especially if you are dealing with perishable goods or items.

3. Equipements and Utilities

Equipment’s cost depends on the industry you are venturing into, the size of the business, and if the nature of work demands the employee have their equipment. For instance, a person starting a catering service will require different equipment from one who is about to start a photography business. You can decide to purchase the equipment if your cash position permits or try other options such as leasing or loans.

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The Best Technology Trends in 2020

Technology Trends

The year is almost over and there are technology trends that are waltzing their way into 2020 says Neil Haboush. For small businesses or startups who aim to stay in the game, being abreast of the trends is a big deal. In a highly competitive business world, investment in the technology trends head-on will prevent small businesses to be wiped out by the competitive tech-savvy companies.

Here are the technology trends shared by Neil Haboush, a successful business guru.

1. The Rise of Social Media Marketing

Social media marketing is the talk in 2019, but it’s going to be the life of the business itself in 2020. As much as social media can consume a lot of time, it is of paramount importance for business growth. Platforms such as Tiktok, Instagram, Twitter, Youtube, Snapchat can help connect to a large audience and youth aside from Facebook. From building an online reputation, connecting with your customer to know their needs and drive sales, there is a lot that it can do for your business.

Moreover, small businesses can make use of social media influencers who will make an honest review of their product to generate sales says Neil Haboush. Don’t forget, consumers trust word-of-mouth more than any other means.

2. 5G Data Networks will be the Thing in 2020 – Technology Trends

5G data might not be a thing for small business in 2019 due to the cost, but it’s going to be on the rise come 2020. With a super-fast network and more affordable mobile data, interactions with the internet will be faster and accessible while on the go. Businesses need to be informed of these technology trends and see through the opportunities to grab.

3. The Gig Economy and Remote Workers are Taking Over

The need for side hustling, flexibility and the fulfilment of being your boss has given rise to the gig economy. More and more freelancers, work from home moms and others are competing for jobs such as software developers, content writing, name it… Moreover, workers are now converting passions to earning and they believe it is more fulfilling.

For business, getting an office is expensive and business needs to grow. Thanks to telecommuting, communications, and collaboration between employees are made easy. Facing financial struggles? Ditch traditional workspace for remote workers.

4. Need to Invest in Voice and Chatbots – Technology Trends

Chatbots and voice searches are now taking over. With the needs to serve customers better and meet their requirements, this comes as no surprise. Startups need to incorporate this trend to make work easier. Chatbot, for example, can communicate with multiple customers and attend to their queries before human intervention. Moreover, the need to incorporate voice communication is increasing to meet consumers’ demands. Little wonder Alexa and Google Home are the new rages.

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Transform Business through Artificial Intelligence

Neil Haboush-Artificial Intelligence

With businesses such as medical, finance, Hr, IT and, recording successes with the incorporation of artificial intelligence for efficiency, organizations who are yet to dig into it might find themselves being kicked out by those who did. From production to marketing, artificial intelligence is changing business forever and affecting the way humans carry out tasks today says Neil Haboush. Automation of time-consuming tasks carried out in a jiffy, increased customer relationship through automated communications, discovery of important findings that help to fasten decision makings and loooooot more! What’s not to love about this gem that is transforming business and the world in general?

A guru with years of experience as a sales manager, organizational infrastructure, finance and tech-savvy, Neil Haboush, shed more light in the areas in which artificial intelligence is impacting businesses and what can be done.

What is artificial intelligence?

Before proceeding to its impact on business, it is important to understand its meaning. Put simply, humans displayed natural human intelligence while artificial intelligence displays artificial, machine intelligence. It is the ability of machines to carry out activities from planning, speech recognition to decision making, otherwise performed using human intelligence. AI can analyse data and human behaviour to make predictions and forecast future occurrence. Moreover, it sees changes, loopholes, and things that are hidden to human understanding. This helps to hasten decision making and to take the required steps for productivity.

Artificial intelligence is a broad term and its other branches include machine learning and deep learning. Neil Haboush explores ways in which artificial intelligence is affecting the way organizations carry out their daily tasks. Great examples, Amazon Alexa, Driverless cars, and so much more!

Marketing

  • Artificial intelligence is a great tool for targeting and segmentation.it provides information on their demographics, location, and age, purchasing behavioural pattern, consumer’s browsing information and their interests. This will help to market to the right audience.
  • It creates room for a more personalized marketing, products and customer experience that will cut down wastes, increased customer and profits.
  • Moreover, advertisement, email and SMS marketing have been made easy to the right audience which can lead to customer loyalty and generating leads. Thanks to artificial intelligence.

Customer relationship management

  • Businesses that deal with a lot of consumer data can leverage CRM with AI to process data, detect patterns and consumer behavior, for improved customer experience.
  • Two powerful tools of lead management as it helps employees to lessen their burdens in searching, targeting and follow up on leads. One good example is a chat-bot that can interact with unlimited consumers visiting your site at a time. Something a human cannot do.
  • Improved customer experience and engagement as it can detect their feelings, image recognition and interpret natural language and serve them better.

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6 Biggest Business Technology Trends in 2020

Neil Haboush Technology Trends

Technology is not only shaping our lives, but it is also affecting how business is done and how successful it will be. Not only are there discoveries, innovations, and inventions, trends keep evolving and humans have to dance to the tune. Let’s face it, the future is now! To drive this point home, China has been setting the record from artificial intelligence to Alipay (an online mobile payment service that makes the transaction easy at anytime and anywhere).

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Government of Ontario Helping Small Business Owners Succeed

neil haboush small business

Small business tax cut and red tape reduction creating competitive business environment for Ontario

BRAMPTON — The Ontario government is lowering costs and eliminating unnecessary and outdated regulations for small business owners and entrepreneurs so they can invest in their businesses, attract new customers and clients, and transform their vision into a success.

Neil Haboush (Montreal Canada) in Ontario, small businesses make up 98 per cent of all businesses and account for a third of all private sector jobs. The government is committed to helping the people of Ontario follow their dreams of starting their own small business.

Today, Rod Phillips, Minister of Finance was joined by Prabmeet Sarkaria, Associate Minister of Small Business and Red Tape Reduction, at Salon 247 in Brampton to talk about how the government’s plan is creating a climate that will support and attract business investment and job creation.

Continue reading “Government of Ontario Helping Small Business Owners Succeed”

What is the Importance Of Effective Communication In A Business

Neil Haboush Effective Communication

Communication is the key to any successful relationship, including business. Therefore, every individual or entrepreneur must develop this skill both inside and outside of the organization.  From building a strong productive relationship to a partnership with others to drive the wheel of the organization forward, the role of effective communication cannot be over stressed. Neil Haboush– an expert in business with years of professional excellence in this field shares the importance of effective communication required for a business to grow.

Why should you develop communication skills?

Neil Haboush Develop Communication Skills

Researches have shown that the organization that engages in valuable communicate among themselves are 3 times more likely to perform well than their competitor. Besides, one thing sets top companies apart from their competitors, they communicate. From emails, Skype, telephone to one-one communication, they are always exchanging ideas.

‘Companies are now seeing the need for effective communication and it is now a parameter for candidate selection during the hiring process. The writing, speaking, listening skills are being assessed’ – Neil Haboush says. Besides, a lot of entrepreneurs are now spending a huge amount on training their workers who seem to lag when it comes to communication. If these businesses are, why not you?

Higher chance of being promoted

Neil Haboush Promotion

As an employee, everyone aims to get promoted and keep climbing the career ladder successfully. However, effective communication for any situation that might be presented to you is essential. Yes, hard work, education, and experiences are good, but so is communication. People with good communication skills earn more and get promoted easily.

For the Smooth Running of the Business

Neil Haboush Smooth Running Business

An entrepreneur that wants to grow must be able to communicate effectively with its workers. To complete tasks, provide feedback, build better relationships, give guidance and encouragement, and accomplish company goals, communication is important.

Promotes Customer Service

Promotes Customer Service

How can you know the needs and wants of your customers without communication? To understand their needs, better ways to serve them, answer queries and build relationships and trust, communicate with them effectively.

Promotes Collaboration and Teamwork

Neil Haboush Teamwork

When there is open communication, it boosts employees’ morale, motivates them and they tend to work towards common goals. Besides, it will reduce misconceptions, disagreements, fights and any negative energy that might wreak havoc on the organization’s effectiveness in the long run.

Attract, and Retain Team Members

Neil Haboush Retain Team Members

Everyone strives in a good, friendly atmosphere. Employees will be inspired to put in their best, work more towards achieving their goals and form long term relationships with the organization. Effective communication is a means to retain employees or clients, to attract new ones and to make a bigger organization, communication is important.

Communication is The Drive for Growth

Neil Haboush Drive for Growth

For partnership, or forming alliances with any other organization, communication plays a vital role. Looking to seal a deal, acquire more clients and achieve your organizational goals, the ability to communicate effectively in different contexts is required. In marketing, it is important to communicate in a way that will be understood by the target audience to avoid misconceptions.

Moreover, to establish an online presence, engage with the audience online through content or blog posts, or presentations of business policies or products, speaking, listening, writing are all at play.

Conclusion

To start an organization, to operate effectively, to manage the workforce, to gain and retain more clients, to expand the organization, communication is the number one force- says Neil Haboush. These are the things effective communication can do for you and your business as an entrepreneur.