In today’s world, businesses are becoming less immune to these scams than ever before. The 2020 State of the Phish Report by the security firm, Proofpoint, identified that 55% of businesses that responded had been the target of a successful phishing attack over the last year. While there have been fewer overall attacks than in years past, the report still points out that phishing scams are getting more sophisticated partly by targeting more susceptible individuals and organizations.

Likewise, the FBI’s 2019 Internet Crime Report indicates that its office receives 340,000 complaints of phishing-related cybercrime per year. Last year alone, a total of $3.5 billion was lost by victims of these attacks, the largest amount in a single year ever.

Those numbers certainly sound scary especially when you desperately want your business to avoid being compromised. Fortunately, there are ways to protect against these attacks by fraudsters. Of course, the first step involves becoming more aware of the types of attacks that can be levied against you.

How Do Phishing Scams Work?

You’re probably familiar with the basics of a phishing attack. Cybercriminals send emails to individuals, businesses, or employees of that business with the intent of fooling them into divulging sensitive information, getting them to click on a malicious link, or coercing them to download a dangerous attachment. “Spear phishing” is a specific type of cyberattack that targets an individual or business. These attacks differ from bulk phishing in that they are often more sophisticated and require the gathering of additional intel to be completed successfully. Bulk phishing, by contrast, simply casts a wide net in order to catch as many potential marks as possible.

In almost all cases, fraudsters use some form of “social engineering” to achieve their desired goals. Essentially, they attempt to trick or manipulate employees by appearing as legitimate as possible. You’re more likely to download an attachment or click on a link if you think you received that information from a trusted co-worker, boss, or friend.

In fact, in some cases, fraudsters can simply impersonate fellow co-workers or high-ranking executives to request the transfer of large sums of money to fraudulent locations. This is typically referred to as “business email compromise” (BEC). Cybercriminals can hack or phish their way into prominent email accounts, or they can simply set up a mock account that mimics the account of an important figure in the business. According to the FBI report mentioned above, the bureau received over 23,000 complaints in 2019 relating to BEC attacks with total losses of around $1.7 billion for businesses and consumers.

Even major tech players like Google and Facebook aren’t safe from BEC fraudsters. Both companies were fleeced out of $100 million between 2013 and 2015 by one man pretending to be a company with whom the corporate giants did business. Although the scam artist was prosecuted in 2019, this story is certainly a cautionary tale.

Of course, there are all sorts of methods that scam artists use to try to infiltrate and defraud businesses. These tactics are often used in conjunction with one another to create a sense of plausibility to the scheme. Some of these include:

• Smishing – a combination of SMS text messaging and phishing in which victims are targeted through text messages.
• Vishing – a similar concept that combines voice communication with phishing.
• Ransomware – a type of malware downloaded through malicious links, attachments, or other downloads that effectively holds important data hostage until the business pays a ransom. (It should be noted that the FBI cautions against paying any ransom because there is no guarantee that the fraudsters will release your data, and giving them money will often just embolden them).

How to Avoid Getting Scammed

Now that you understand the basics of phishing, it’s important to know what you can do to stop it from happening to you or your business. Again, part of the solution is simply being aware that these types of attacks can happen at any time. In fact, the 2020 State of the Phish report showed that 78% of organizations were less susceptible to attacks simply by educating their employees or members of these common tactics. But, how do you get everyone on board?

Make Security a Key Priority

It can’t be enough for you to simply pay lip service to maintaining a high degree of cybersecurity. Everyone in your business or organization is at risk of a targeted phishing attack, and neglecting to educate everyone can leave glaring holes in your overall safety.

Institute a company-wide awareness program that highlights the methods often used by cybercriminals. Make it a policy for employees to double check with the sender of an email if the message in question is suspicious or is asking the recipient to click a link, download an attachment, or even transfer funds. Also, make sure to keep reinforcing these ideas and ensuring that new hires get the full breakdown, as well.

Find Out Who is Being Targeted and with What Tactics

If a phishing attack works and you see a loss as a result, don’t panic or overreact. Simply identify who is being targeted and focus your security awareness programs on them. In some cases, an entire department might have been the subject of an attack. In other cases, the CFO is the target.

It’s also important to identify the tactics used by the fraudsters to ensure that everyone in your organization is on the lookout. For instance, if the phishing culprit asks for a password reset or requests some specific data, make sure that everyone in your organization is aware. If everyone is on the same page, they will be less likely to surrender information or click a link without double checking first.

Check the Sender’s Address

Phishing attacks occur under numerous scenarios, and it’s a good idea to have a clear understanding of how these scams manifest. In many cases, you may recognize the name of a sender. For instance, if your CTO is Barbara Johnson, then her sender name in an email will likely say “Barbara Johnson.”

But, anyone can use the sender name “Barbara Johnson” and they can even mimic her signature and writing style. If Ms. Johnson sends you a suspicious email requesting sensitive data, then it may be best to look at the actual email address.

To Sum it All Up

Scam artists are becoming more and more sophisticated, and it’s no longer a question of if you’ll get attacked but when. Prepare your team and exercise caution, because a phishing attack could happen at a moment’s notice. But, if you institute the right training, you’ll mitigate the risk substantially.

The post The Rise of Targeted Phishing Attacks and How to Keep Your Business Secure appeared first on Industry News Corp.

One organization, Health eVillages, is working to change that.

Health eVillages was founded in 2011 in partnership with the not-for-profit Robert F. Kennedy Human Rights organization. The person behind its launch is Donato Tramuto, founder of the TramutoPorter Foundation.

It was established on the premise that no one should be barred from healthcare because of geographical or socio-economic barriers. The organization aims to improve the quality of medical care in all areas of the world, especially those in challenging clinical environments. It does so by providing mobile health technology and training to healthcare professionals internationally.

Health eVillages works on a simple but powerful principle: empower healthcare professionals in remote and resource-limited areas with the latest medical information and tools, and they can provide better care to their communities.

The organization provides healthcare professionals with handheld devices, like iPads and iPhones, preloaded with medical reference and clinical decision support tools. These tools can be used offline, making them ideal for areas with limited or no internet connectivity. Health eVillages customizes the content on these devices according to the most pressing local health needs, ranging from primary care to HIV/AIDS, maternal and child health, and non-communicable diseases.

Over the years, Health eVillages has made a significant impact in underserved areas worldwide. For instance, in Lwala, Kenya, the organization’s mobile devices have helped increase the number of safe deliveries for expectant mothers, contributing to a significant reduction in maternal and infant mortality. In Haiti, Health eVillages supported the establishment of the Regis College Haiti Project, which provides nursing education to strengthen the local healthcare system.

In the United States, Health eVillages has partnered with multiple organizations to improve rural healthcare, such as the TramutoPorter Foundation in rural Maine, where they’ve provided scholarship assistance and mobile health technology to local healthcare professionals.

In the face of a global digital divide, Health eVillages is harnessing the power of technology to improve healthcare access and outcomes in some of the most remote and underserved communities worldwide. With a decade of service and numerous successful projects in its wake, Health eVillages continues to embody the belief that geography and income should not dictate a person’s access to quality healthcare.

Through ongoing collaborations and innovative use of mobile health technology, Health eVillages is empowering healthcare professionals and transforming lives – one village at a time.

The post Health eVillages: An Advancement in Global Health Care Access appeared first on Industry News Corp.

In fact, if employed correctly, this “co-opetition” (as it has come to be known) can actually yield major benefits. A 2018 study conducted by the Multidisciplinary Digital Publishing Institute showed that both companies in a strategic partnership were 50% more likely to reduce overall costs. There’s certainly a reason that notable corporations like Amazon and Apple, Microsoft and Intel, and Ford and Toyota have joined forces at one time or another despite competing for the same customers most of the time.

So, what makes these strategic alliances so attractive, and what are some of the potential drawbacks?

Pros

1. Expand Your Brand Awareness and Customer Base

Strategic alliances can help introduce your brand to an entirely different sector of the consumer market. This is particularly true if you happen to partner with a larger or more established company in your field. But, it can also help if you run the larger operation and are looking to delve into a more niche market.

Strategic alliances are also valuable for improving your brand’s reputation and awareness. Partnering with an industry leader or even an up-and-coming brand can lend even more legitimacy to your company.

2. Streamline or Improve Parts of the Business that are Less Integral

There are things that your business does well. Maybe you make the best products or your supply chain is a really tight ship. Outside influence probably will not improve the already exemplary aspects of your business.

But, you can’t be the best at everything, and a strategic alliance can help cover those deficiencies. It’s only natural that collaboration with a competitor can help offer more resources that you may not be able to access for one reason or another. It’s also a good opportunity to learn about how to improve your business when the partnership is over.

3. Increased Creativity, Less Stress when Solving Problems

Competition is stressful, and it can feel like there is a lot of pressure to complete a project or push out a new product before a rival business does. This is inherent in a competitive business environment in the same way that two teams on a basketball court feel pressure to score more points than the other.

Unlike basketball teams, however, you can alleviate the stress by simply collaborating with the opposition. With co-opetition, you are less likely to commit errors, cut corners unnecessarily, or just generally deemphasize quality. You can take your time while also getting a fresh perspective on an idea, because you are not rushing to beat out the competition.

4. Enter into a New Market Segment

 Like the collaboration between Ford and Toyota mentioned above, you can leverage a strategic alliance to make a foray into a new market segment. In the case of the two automobile giants, they formed a partnership to collaboratively research and develop hybrid pickup trucks and sport utility vehicles. Both sides benefitted from having access to the other’s research, and they both undoubtedly produced better products when all was said and done.

If you’re considering branching out into new products or segments, then a collaboration might be the best way to go about it. Again, it also takes the pressure off of you to develop a new product and release before it’s fully realized.

5. Not Entering into a Partnership can Actually be the Worst Idea

The best example of an industry that refused to consolidate into a mutual alliance comes from major record companies in the early to mid-2000s. When the music industry began losing profits due to the ease of illegal music downloads, they responded with half measures. Sony and Universal combined to create their own online music store while a consortium of EMI, Warner, and Bertelsmann set up their own platform.

The problem with this? They refused to license their music to the competing platforms, making it unattractive for consumers to opt in to either service. At the end of the day, Apple’s iTunes swooped in with a more democratized approach to music sales, completely undercutting the record labels and taking some of the market share they could have had as part of a broader collaboration. It’s a cautionary tale about not seeing the bigger picture and losing out on bigger profits out of an unwillingness to collaborate with a competitor.

Cons

1. Partnership May Lack Clarity

As with anything in business, there’s a chance that a strategic alliance could actually backfire. A lack of clearly defined parameters can make the partnership more contentious than productive. Maybe both sides don’t agree on an end date, or they are unwilling to grant access to certain valuable resources. These things need to be ironed out before entering into the partnership, otherwise you could be making your relationship even more adversarial.

It’s also important to make it abundantly clear which portions of your business can be shared in the context of the partnership. Sales tactics, pricing strategies, customer details, marketing campaigns, and other pieces of information need to be explicitly on- or off-limits prior to signing on the dotted line.

2. Goals Can Sometimes Be Achieved without External Help

In some cases, you simply don’t need an outside element to help you achieve your goals. A competitive collaboration could lead to higher costs, slower development times, and legal issues later on if you never actually needed the assistance. It’s important to adjudicate whether you can complete your desired objectives more efficiently without enlisting your competition. Otherwise, you could be spinning your wheels on a deal that provides almost no benefit that you couldn’t have acquired on your own.

3. Legal Rights Can Come Into Question

Again, without a clear agreement between the two parties, you can leave yourself open to potential litigation. A strategic partnership is sometimes commenced for the purposes of creating a new product or line of business. But, ownership rights can become murky, especially if the contract isn’t clear about how those products will be deployed.

Final Thoughts

At the end of the day, we know that strategic partnerships can be successful if they are employed effectively. The benefits are obvious, and there’s a reason that these alliances are made all the time. At a certain point, it becomes difficult for a company to grow without some collaboration. But, of course, you also want to ensure that the collaboration is well thought out and not something hastily thrown together in an effort to capitalize on another company’s popularity.

The post Pros and Cons of Collaborating with a Business Competitor appeared first on Industry News Corp.

In the traditional sense of marketing, there are three things you can do to always stay ahead of the competition, regardless if you are doing print or online advertising.

1. Connect to the Community

No matter what your business is, connecting with the community remains an excellent strategy for building support for your brand. Though many businesses are joining the online community to do the legwork of their campaign, don’t underestimate the power of organic events.

Sponsoring local events (e.g. community fundraisers, races, or markets) can give your name positive exposure, and present your business as a community player. This kind of grassroots marketing may seem old-fashioned, but it can make a big difference in public perception of your business.

2. Identify (and Communicate) Your Strengths

Another traditional pillar of marketing is identifying and communicating your business’ strengths. This can (and should) be applied to any marketing campaign. In order for a marketing approach to work, it has to communicate effectively to your target audience. No matter where (or whom) that market is, you must be able to show them exactly who you are and why they should be interested in you or the product.

Your advertisements should convey what makes you different from the competition and why that matters to the consumer. This tactic is known as a unique selling proposition (USP). Without a compelling USP, no matter what the forum or vehicle you use to communicate it, your marketing campaign will suffer.

3. Reach your Target Market

Finally, reaching out to your target market is important for any business. This can be done online and offline. As I mentioned above, sponsoring local events is one way to reach out to members of the community organically. Additionally, advertising specialties and unique promotional products (e.g. pens, mugs, reusable bags, etc.), billboards, and even television ads are useful methods for targeting your market.

Depending on your business, some of these tactics will work better than others. For example, a car repair business can reach thousands of people within its market (drivers) with just one billboard on the highway. However, if your target audience is made up primarily of middle aged women, direct mailers may still be an effective way to communicate to the right people. Whatever approach you use, remember that your marketing campaign will be most effective when you reach out to the appropriate market.

If you distribute promotional products to your customers, include your email, blog address, or Facebook and Twitter information so they can easily find you online later. As you combine traditional and modern, you will find your innovation will pay off.

Bringing It All Together

Today’s marketplace continues to change and evolve. It is no longer feasible to rely solely on traditional methods of advertising to promote your business. That being said, many so-called traditional marketing strategies remain viable today. As you develop your own marketing campaign, keep these core values in mind. Connect to the community, reach out to your target audience, and communicate your strengths compellingly.

Because of the popularity and efficacy of the Internet, the most effective and efficient campaigns will likely be a hybrid combination of the two schools: organic and online. Research your target audience to discover which avenues will work best for you and your company. Then look for ways to marry the two sides in a cohesive plan. For example, if you sponsor a local community event, don’t forget to publicize and talk about it on your social media outlets.

The post 3 Traditional Marketing Pillars You Must Employ appeared first on Industry News Corp.

This probably accounts for Essure’s relative popularity. The device, produced by Bayer, is a much less invasive option for permanent birth control and has been used by over 750,000 women since it first entered the market in 2002.

So, why did Bayer recently announce that it’s going to discontinue the product in December 2018?

What is Essure?

First, it’s important to understand exactly what Essure is. Essure is a small metallic device made of nickel and titanium that is inserted into the fallopian tubes. A catheter is used to implant two small coils that eventually create scar tissue that prohibits the passage of sperm and, subsequently, the fertilization of a woman’s egg.

The method was initially lauded for its minimally invasive nature and its ability to provide permanent sterilization with no incision. Prior to Essure, the only method of permanent birth control was tubal ligation, which requires anesthesia and major surgery. Essure was seen as a far less risky option.

Essure first began development in 1988 as a project of Amy Thurmond, a doctor, and Julian Nikolchev, a medical entrepreneur. In the 1990s, Nikolchev founded Conceptus, the company that would first sell the device (Bayer later acquired Conceptus in 2013). Clincial trials started in 1998, and the FDA approved Essure for sale in 2002.

Problems Arise

Early on, the side effects and the possibility of major issues were not well-understood, even by the manufacturer of the drug. In fact, many of the major issues with Essure weren’t well publicized until several years after the device’s release.

In 2011, Angie Firmalino, a woman who had undergone Essure treatment, started a Facebook group called “Essure Problems” to share her story with other women. The group quickly ballooned, with thousands of women complaining of major symptoms. These symptoms included:

• Headaches
• Tooth decay
• Abnormal menstrual cycles
• Fatigue
• Abdominal pain
• Bleeding
• Punctures of the uterus, fallopian tube, or even other organs
• Weight fluctuations
• Muscle weakness

In some cases, these side effects led to the device having to be surgically removed, often by hysterectomy. In other cases, the device had failed to work for its intended purpose and resulted in unwanted pregnancies.

The hypothesis was that many women were experiencing a negative autoimmune response after the implantation of the device. Indeed, it appeared that an allergic sensitivity to nickel could be to blame. Despite this, Conceptus had actually asked the FDA to downgrade a nickel allergy to a mere warning instead of a contraindication. As a result, doctors were not required to screen for the allergy.

Continued Pressure on Bayer

As complaints began piling in to the FDA, it was clear that something was not quite right with Essure. In 2016, the FDA required Bayer to conduct a 2,000-patient research study to identify issues with the device. While they complied with this mandate, it didn’t stop criticism from women who had experienced the worst of the device’s side effects.

In 2017 alone, the FDA received over 12,000 complaints about Essure. Bayer also became the defendant in over 16,000 lawsuits as a result of issues related to the device. In April 2018, the FDA applied new restrictions, allowing only women who had read and signed a brochure detailing Essure’s risks to undergo the procedure.

In July 2018, Bayer announced that it was discontinuing the sale of the product, effective December 31, 2018. Bayer spokespeople noted that the discontinuation was only a result of a decline in sales and not a recognition of any safety issues inherent with Essure.

For many women, though, this was a victory against a medical device that had plagued them for years. It’s clear that the pressure placed on Bayer ultimately led to Essure being taken off the shelves.

The post Why Bayer Stopped Selling Essure Birth Control Devices appeared first on Industry News Corp.

In order to maximize this opportunity, good marketers need to implement the right strategy and execute with the latest trends. 2016 completely changed the landscape, and with recent announcements from Facebook’s F8 conference, 2017 is changing the landscape again.

There is a massive opportunity for marketers to capitalize on these trends to get far better results than any other channel. Taking advantage of these trends now will show returns for years.

Facebook ads may change fast, but that just means more room to optimize and grow.

1. Use Facebook Video Ads

During the latest quarterly meetings from Facebook, Mark Zuckerberg spoke about the push and focus on Facebook Video Ads. Facebook is solely focused on improving the innovation and ad monetization around video. What does this mean for marketers? It means that now is the time to start using Facebook Video ads.

Facebook is investing heavily into their video ad platform and distribution of ads with video content. They plan on increasing this trend in 2017 and beyond.

It’s not hard to see a world where Facebook is the most viewed video medium, surpassing cable, YouTube, or even Netflix.

2. Test Out Different Ad Copy

Split testing is critical. As more marketers enter the Facebook ecosystem, the need for high ad engagement is incredibly important. Not only does better ad engagement result in more installs and users, it also reduces your cost per action and can be a huge difference maker in ROI.

Look back on the last few months of ads, how many different variations did you A/B test? If it wasn’t 100’s, you are doing it wrong.

Many people running Facebook ads make the detrimental mistake of using a single piece of ad copy over and over again. What they fail to realize is that after people have seen your ad, they get tired of it. What’s worse, they are leaving the opportunity on the table for another ad to outperform the first.

By split multiple ad headlines and ad copies, you can easily find the unicorns that outperform all your other previously written ads.

2017 is all about split testing. Go back and review the past 12 months of ads. Take a look at worked and what did not. Then, write some new ad copy that makes people want to click on your ads by putting yourself in the shoes of your customer.

It helps to be in a creative mood. Consider a few new ideas to try:

• Add some emojis in your ad copy
• Try using a new image
• Look at the ads of your competitors
• Incorporate client testimonials
• Add a time sensitive offer.

3. Use Deep Links Inside Facebook Ads

Deep links are a type of links that takes users directly to content inside an app. Implementing deep linking is fundamental for a top performing ad campaign. Deep links can provide insight and understanding that was previously impossible to get.

That said, deep links have historically been a challenge to use on Facebook. If you are not familiar with this marketing concept, be sure to learn how to create deep links before trying to implement them in your Facebook ads.

According to Branch Metrics, “Facebook prefers to keep users inside its platform, and has removed the App Links routing engine from everywhere except the main Android app. Since Facebook also blocks iOS Universal Links, this leaves no reliable way to open third-party apps from Facebook or Messenger on iOS. Branch has implemented a solution to help work around these limitations.”

However, deep links from Branch links can be used together with Facebook ads. This allows Facebook ad managers to to track installs link new users directly to content the first time they open your app. In addition to bringing users directly to content, deep links have a number of additional upsides.

Example Ideas for deep linked ads:

• A user clicks on an ad for 20% off all purchases before the end of the week, and upon opening the app sees the coupon and has it automatically added to the shopping cart.
• A user clicks on an ad for blue sneakers. You show him the blue sneakers as soon as he opens the app.
• You know that users clicking on your ads are already familiar with your product. So in your app you reduce the carousel shown to new users from 5 to 2 if they’ve come in through an ad.

How do I insert App Links into a Facebook install ad?

1. Create your deep link. One provider is Branch.
2. Go to facebook.com/ads,create a new app install ad, and select the app to advertise:
3. After you choose your audience and customize the display of the link, paste the deep link in the “deep link optional” section.

4. Upgrade to the new Facebook ad Pixel

If you’ve been running Facebook Ads since 2016, you were probably using their standard conversion tracking pixel. In 2017, you will no longer be able to create ads using the conversion tracking pixel.

It’s critical that you upgrade your ads to new Facebook Ad Pixel.

Facebook made some improvements to their ad pixels that change things up a bit.

Instead of offering both their conversion tracking pixel and the Custom audience pixel, Facebook combined these two pixels into one “Facebook pixel”. The ideas is to provide an improved user experience for advertisers, however in order to capitalize on this improved experience you must be familiar with the changes.

At the end of 2016, you were no longer able to create new conversion tracking pixels. It is important to quickly update to the new Facebook pixel in order to ensure that you are able to properly track your ads.

5. Develop Your Mobile Ad Strategy

Many businesses run ads on Facebook and neglect their mobile users. This is a massive mistake. Facebook’s platform is dominating the mobile space and the growth is exponential. For September 2016, Facebook reports 1.09 billion mobile daily active users and 1.66 billion mobile monthly active users.

This trend of owning the mobile space will continue throughout 2017.

Good mobile app marketers need to focus on dynamic mobile Facebook ads a key part of there Facebook ad strategy for 2017.

Mobile is everything now. Ensure that you have a mobile site up to date, design ads that provide a good mobile user experience. If you have a mobile app, make sure you understand how to use deep links in your mobile app, and track and optimize everything you do.

In Conclusion

The marketing landscape may be changing faster now than ever, but this is all the more reason to put an emphasis on becoming the best marketer you can be. Facebook is the hottest opportunity in marketing in 2017, and it’s paramount that you stay on top of the trends.

Video ads should be top of your mind, as should constant split testing and optimization. If you have not implemented a deep linking strategy, then stop what you are doing and add deep links to your Facebook ads. Furthermore, ensure that you are using the 2017 ad pixel, and do not forget to focus on mobile.

The post 5 Critical Facebook Ad Tricks Marketers Must Master For 2017 appeared first on Industry News Corp.

His latest project is the world’s first portable touch screen for your smartphone: the Superscreen. The premise of the device is simple: provide full control of your smartphone on a larger, better display. Superscreen connects directly to your phone via a secure private connection. So it does not require the cloud, and you do not need to connect to Wi-Fi.  

In fact, Morgan promotes that in minutes you will start exploring apps and tasks that you would never consider doing on your small mobile screen: activities like shopping, watching movies, and editing photos. “I can see with this thing, that’s what I’m talking about,” a rapper comments on Youtube about viewing his lyrics on the larger display. “I could really see myself watching T.V, showing friends pictures, having a good time,” another user notes during the product’s launch at CES 2017. 

The features of a $600 iPad in a $99 device. Superscreen gives you the benefits of a tablet with the power & convenience of your phone.

The immediate question with Superscreen is if you’re so keen to have a larger display, why not just purchase a tablet? Morgan loves answering this question, “Everything about Superscreen has been designed to help you get the most out of your smartphone experience, not to add another upgradeable-device or feature to your life.” He insists that it’s “not just a bigger screen, but a better one”. For people whose lives are contained within their smartphone, the easier functionality of a larger screen combined with not needing to re-download all of their apps, pictures, notes and bookmarks is appealing.  

Superscreen is a new way to experience the digital world you have set-up on your phone. According to Morgan, it does everything a tablet can do, everything a casting product can do, PLUS everything in your phone in one affordable great looking device

Superscreen could fall prey to being caught up in its own slickness, but given its straightforward principles and its wide user cases (basically all smartphone users)—it doesn’t. We’ll see if the market agrees with the concept and $99 price point. Follow Superscreen on Kickstarter to find out.  

Here’s the link to their Kickstarter campaign.

The post Brent Morgan’s Superscreen, a Second Display for Your Phone appeared first on Industry News Corp.

YapStone, a leading payments company processing over $17B annually, can teach us a thing or two about setting up and thriving on foreign shores. With 124 full time employees now in the company’s international headquarters in Drogheda, Ireland, this California-based Fintech company has learned first-hand the challenges and complexities that can arise.

Based on their experience setting up an international office in the Emerald Isle, here are a few insights to keep in mind if you’re thinking of expanding your company across borders:

Speak the language

When it comes to offering your services in new countries, speaking the local language is fundamental. If you want to do business with customers in Spain or Germany, you’ll need to be able to answer their questions and offer support in their native tongue. YapStone’s Drogheda office has built up a global customer service team that can assist customers in eight languages. Having this ability is necessary for growth as the company expands into further foreign markets.

Expect the unexpected

When it comes to culture, consumer behavior and employee expectations, what works on home soil won’t necessarily fly in a country with different expectations.

Take culture, for instance. If you’ve ever shared a joke with a non-American English speaker (especially one with an Irish accent), you probably came away wondering if you were really speaking the same language. Even if there isn’t technically a language barrier, there are cultural differences that are deeply rooted within a country’s psyche that can complicate interactions.

Tom Villante, CEO and Co-Founder of YapStone, stresses how important it is to “respect the local culture and ways of doing things” and get to know the day-to-day idiosyncrasies. The Irish, for instance, are more relaxed as it relates to schedules and meeting times and not as formal as their American counterparts. Many business deals are forged in a social setting, rather than a board room.

It is also essential to understand consumer demands, buying behavior, and lifestyle preferences when setting up shop aboard. Villante observes, “As a payments company, we have learned that some countries are more resistant to using credit cards than the U.S., for example. So, we have to address these differences and offer more options and payment methods.”

And finally, when it comes to your employees, laws on vacation allowance and minimal salaries vary from those of the States so learn what they are and be sure to comply. In Ireland, for example, full time employees are entitled to a minimum of four weeks paid leave per year.

Tap local associations and government agencies for support

If U.S. Fintech companies want to succeed abroad, they should make connections and build relationships with local government, as well as business and regulatory institutions. In Ireland, that includes

1. IDA

2. American Chamber of Commerce

3. Local Chambers of Commerce

4. Fintech and Payments Association of Ireland

These types of entities exist to offer help and support to businesses as they get started in new territories.

Government agencies can also be an asset to newcomers. Thanks to recent legislation for financial services companies, Ireland has become a hotbed for Fintech and offers considerable incentives to do business here. For example, startups in their first three years which are making under €480k per year receive tax relief and an extremely low corporate taxation rate at 12.5 percent. IDA Ireland, the Government agency responsible for attracting foreign direct investment (FDI), also offers new Fintech businesses considerable guidance and support.

Navigate the regulations and risks

Get assistance to navigate European regulations to avoid costly mistakes. The acronyms alone, like AML, PSD, FATF, need more than basic research. You need to act on them. Then there are critical risks to be aware of and prepare for, such as Terrorist Financing and Compliance, and Operational Risk. Knowing how to address foreign regulations starts by forging solid relationships with the right people and institutions who understand the differences in each country.

To replicate their U.S. success in Europe, YapStone worked with EU partners to deepen their knowledge of the regulatory issues each country faced and then created a customized solution for each. Villante explains, “Being aware of and addressing the regulatory landscape in each country you want to do business in is essential, as is working with experts who can help you find your footing on foreign soil.” As Amazon and McDonald’s can attest, failure to comply with such laws can lead to hefty financial penalties.

Entrust local leaders

Understanding the culture of customers and employees is vital, so it’s important to hire leaders who know how to organically build local culture into your company. Sometimes you need to trust the judgment to your local team and rescind control. Remember, they have the local advantage and know better how to operate within their own country.

Before opening the doors to their new office in Drogheda, YapStone brought aboard seasoned FinTech veteran, Peter Rowan, as VP of International Operations and Global Customer Support. A former Global Director of Trust & Safety at Twitter with experience in fraud operations at PayPal, Rowan’s immense experience and international expertise have helped YapStone’s Ireland office more than double in number of employees – a growth greatly attributable to Rowan’s local knowledge and close relationship with the IDA in Ireland.

Taking your company abroad requires careful consideration of cultural and regulatory differences and getting help from local organizations and leaders. But if you have a clear sense of what to expect, the right support systems in place, and the courage to make the leap, then your company’s potential for international growth may be boundless.

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First there was eBay. It offered us a glimpse into the world of eCommerce without having to create your own website. You could post your merchandise and it would become available for purchase by anyone in the world. All you needed to do was fulfill the orders by packaging and shipping to the buyer. Sounds simple, right?

Along comes Amazon Marketplace

Similar to eBay, Amazon allows you to list your products for sale, except in a non-auction type platform. The company began to take over the marketplace with a little ingenuity. Amazon began offering something different, something that allowed it to dominate the market, taking many sellers away from eBay – distribution.

One of the most difficult things for an eCommerce startup is distribution. Amazon launched its fulfillment service which allowed sellers to mail or drop off their items at fulfillment centers throughout the United States. Amazon would then store them and once a purchase was made, package and sell the item.

3dcart

3dcart broke into the market as an all-in-one eCommerce solution. Users can create their online store, add products, track shipments, and more. One thing that had been missing is distribution. Now, thanks to the new partnership, it has been able to offer its customers a complete turnkey system.

“Accuracy, speed and reliability are essential components to providing exceptional customer service,” said 3dcart’s COO, Jimmy Rodriguez, in a recent press release. “With Red Stag Fulfillment, 3dcart merchants can grow and expand their business operations with a cutting-edge solution that’s uniquely equipped to make shipping, storage, and returns a pain-free process.”

Red Stag Fulfillment

Red Stag Fulfillment works similar to Amazon fulfillment services. They store, package, and ship your product. They also handle returns which can be a hassle for many online merchants. As a third-party fulfillment center, its main goal is to handle the backend of business and create scalability. Founded in 2013, it has become one of the fastest growing third party fulfillment services in the industry, being awarded the “Best Ecommerce Fulfillment for Heavy Goods” by Fit Small Business in 2016.

3dcart is not the first integration that Red Stag Fulfillment has taken on. In addition to 3dcart and Amazon, the company integrates with more than 50 different platforms, including Shopify, Magento, WooCommerce, Big Commerce, and PayPal.

Founded in 1997, 3dcart has been adding more partnerships to help it compete with the likes of Shopify. In 2016 alone, it added Braintree Seamless Payments, Vantiv, and Bablic. Not to mention its new integration with QuickBooks Online to allow for easier bookkeeping for sellers.

Red Stag Fulfillments hopes to help smaller e-tailers create their own brands without having to use websites such as Amazon or eBay. “Other than fulfillment and distribution, the biggest hurdle for eCommerce business is differentiation,” says Jake Rheude, Director of Business Development for Red Stag Fulfillment. “With so many products being sold through Amazon and other marketplace sellers, it’s becoming harder and harder for eCommerce stores to gain visibility and generate customer loyalty through a unique and engaging consumer experience.”

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Consult with Financial Planners Early on in Life

Whether you make over a million dollars or $20,000 in a year, the time to plan for your financial future is now. Sit down with a financial planner to help with budgeting your money, getting your investments (stocks or bonds) and preparing for your retirement. You want to have a plan that is going to secure you until the end of your days.

Financial planners advise people to plan their finances to their 100th birthday now. Life expectancy may or may not be rising from this point, but with people living into their 90s now, it’s important to get ahead with a financial planner.

Couples Should Plan Even Better with Wills

If you’re in a committed relationship, one of you is expected to live to be in your 90s. However, if one of you passes away without having a living willing in place, you could leave the burden and expenses up to your partner. This could completely wipe away all of your funds and leave them to grow old without an opportunity to make it back.

Getting older and retiring comes with both its pros and cons. While you might be out of work for good, this means the need for a living will is even greater because you need to be able to prepare one another, financially, for your potential passing.

Setup a 401K for Yourself

As you get older and explore the stock world, you’ll notice that there are going to be a large number of investments you can make. However, as you start off, having a 401k plan will be the ideal way to setup your retirement at an early age. As an entrepreneur, you have to find a private company to help you with this. However, this is going to be one of your main sources of income when you retire.

Your financial planners will usually sit down with you and pick out individual stocks they feel will work best to deliver you the most return investment. The great thing about a 401k is that you can put in as little or as much money in it as you want. Over time, it will accrue more worth as the stocks increase in price.

REIT Investment

Real estate investing is always going to be a prime market for you to make money. As an entrepreneur, you have the option of being your own boss and your stocks should be a part of your business ventures. Look into hiring a good financial planner who has extensive experience with the real estate trading market.

So how does a REIT investment work?

Instead of purchasing real estate properties, fixing them up and selling them/renting them out, you can skip that entire process and invest in homes through a REIT. This is similar to the stock market, where you can trade your shares and sell them. There are multiple listing types including: private, public, and public not-listed.

This is another long-term investment opportunity. If you’ve already opened a 401k, this could be the next step to investing in your retirement. When you get older, you can cash in on these and have them as a main source of funds for yourself.

Live Reasonable Throughout Your Lifetime

Although you might be tempted to live the glamorous life when you have money in your younger years, you shouldn’t for the sake of your retirement. If you live practical and budget yourself, you should be able to save up money for your retirement over the years. Every dollar saved now could help you in the future.

Use These Tips to Help with Building Your Retirement Fund

When you retire, you should be able to cash in on multiple stocks, bonds, and investments to help carry you throughout your younger years. With the crisis going on with the Baby Boomers, more awareness is being raised on this issue. Use these tips to ensure you live happily-ever-after when you retire from your entrepreneurial world.

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