Author: David

Adapting to a Digital World

As the world becomes increasingly digital, businesses need to adapt to keep up with the changing times. This is where digital consulting comes in. Digital consulting is the process of helping businesses adapt to the digital world, from creating a strong online presence to implementing the latest technology.

At its core, digital consulting is about helping businesses become more efficient, effective, and profitable in the digital age. Here are some of the key areas where digital consulting can help your business thrive.

  1. Digital Strategy

A digital strategy is essential for any business that wants to succeed in the digital age. A digital consultant can help you develop a comprehensive digital strategy that takes into account your business goals, target audience, and budget. This strategy will help you identify the best digital channels to reach your audience, as well as the tools and technologies you need to implement to succeed.

  1. Web Design and Development

Your website is often the first point of contact with your audience, so it needs to make a great first impression. A digital consultant can help you design and develop a website that is visually appealing, user-friendly, and optimized for search engines. They can also help you integrate your website with other digital channels, such as social media and email marketing.

  1. Social Media Marketing

Social media is an incredibly powerful tool for businesses, but it can also be overwhelming. A digital consultant can help you develop a social media strategy that is tailored to your business goals and target audience. They can help you identify the best platforms to use, create compelling content, and track your results.

  1. Content Marketing

Content marketing is all about creating valuable, relevant content that attracts and engages your target audience. A digital consultant can help you develop a content marketing strategy that includes blog posts, videos, infographics, and other types of content that resonate with your audience. They can also help you distribute your content through social media, email marketing, and other channels.

  1. Search Engine Optimization

Search engine optimization (SEO) is the process of optimizing your website to rank higher in search engine results pages. A digital consultant can help you identify the keywords your target audience is searching for, and optimize your website and content to rank higher for those keywords. This can lead to increased website traffic, leads, and sales.

In conclusion, digital consulting is essential for any business that wants to succeed in the digital age. Whether you need help with digital strategy, web design and development, social media marketing, content marketing, or search engine optimization, a digital consultant can help you achieve your goals and stay ahead of the competition.

What is Business Transformation?

Business transformation is the process of fundamentally changing the way a company operates. It involves a holistic and comprehensive approach to redefining the organization’s vision, strategy, processes, technology, and culture. In today’s rapidly changing business landscape, transformation is essential to stay competitive and relevant. One can imagine how difficult a task this may be for large organizations with legacy procedures and outdated technology, especially while considering industry-specific regulatory requirements. In this blog post, we’ll explore the key elements of business transformation and how organizations can navigate this complex process.

  1. Vision and Strategy: Business transformation begins with a clear vision and strategy. Organizations need to have a deep understanding of their business model, competitive landscape, customer needs, and market trends. Based on this understanding, they can define a compelling vision that aligns with their long-term goals. A well-crafted strategy outlines how the organization will achieve its vision, the resources required, and the timelines for implementation.
  2. Process Optimization: Once the vision and strategy are in place, organizations need to focus on optimizing their processes. This involves analyzing existing processes, identifying inefficiencies, and redesigning them to achieve better results. Process optimization can be a daunting task, but it is critical to streamline operations, reduce costs, and improve customer satisfaction.
  3. Technology Enablement: Technology is a key enabler of business transformation. Organizations need to evaluate their current technology infrastructure and identify gaps that need to be filled. They need to invest in new technologies that can improve efficiency, reduce costs, and enhance customer experience. Cloud computing, artificial intelligence, and the internet of things are just a few examples of technologies that can help organizations transform their operations.
  4. Change Management: Business transformation can be disruptive, and organizations need to manage change effectively to minimize the impact on employees and customers. This involves communicating the vision and strategy clearly, involving employees in the transformation process, and providing training and support to help them adapt to new ways of working.
  5. Culture Transformation: Culture is an essential element of business transformation. Organizations need to create a culture that supports innovation, agility, and continuous improvement. This requires leadership commitment, employee engagement, and a willingness to challenge the status quo.

As we can imagine, business transformation is a complex process that requires a holistic and comprehensive approach. It involves redefining the organization’s vision, strategy, processes, technology and culture. Organizations that embrace transformation are better positioned to adapt to the rapidly changing business landscape and stay ahead of the competition. By following the key elements outlined in this blog post, organizations can navigate this challenging process and position themselves to achieve long-term success.

Advantages of Social Media for Small Businesses

Social media can be an effective tool for small businesses to increase visibility, engage with customers, and grow their brand. Here are some advantages of using social media for your small business:

  1. Increased brand awareness: Social media can help you reach a wider audience and promote your business to potential customers who might not have heard of you otherwise.
  2. Improved customer engagement: Social media allows you to interact with your customers in real-time, respond to their inquiries and feedback, and build stronger relationships with them.
  3. Cost-effective marketing: Compared to traditional advertising methods, social media can be a more cost-effective way to promote your business and reach your target audience.
  4. Increased website traffic: By sharing links to your website on social media, you can drive more traffic to your site and potentially increase sales.
  5. Competitive advantage: If your competitors are not utilizing social media, then you have an opportunity to stand out and differentiate yourself from the competition.
  6. Valuable insights: Social media analytics provide valuable insights into your audience and how they interact with your content. This information can help you optimize your social media strategy and improve your business overall.

Overall, social media can be a powerful tool for small businesses looking to increase brand awareness, engage with customers, and grow.

How to Improve Your Business Efficiency

In today’s fast-paced world, efficiency is more important than ever. If you want your business to succeed, you need to find ways to streamline your operations and get more done in less time.

There are many different ways to improve your business efficiency. Here are a few tips:

  • Automate your tasks. There are many software programs available that can automate repetitive tasks. This can free up your time so you can focus on more important things.
  • Delegate tasks. If you have employees, delegate tasks to them whenever possible. This will help you get more done and it will also help your employees develop their skills.
  • Take breaks. It’s important to take breaks throughout the day to avoid burnout. Get up and move around, or step outside for some fresh air. Taking a few minutes to relax will help you come back to your work refreshed and focused.
  • Set goals. Setting goals will help you stay on track and motivated. Break down your goals into smaller, more manageable steps. This will make them seem less daunting and it will help you track your progress.

Improving your business efficiency can take time and effort, but it’s worth it. By following these tips, you can save yourself time and money, and you can also improve your business’s bottom line.

Contact Us

If you’re looking for ways to improve your business efficiency, contact us today. We can help you develop a plan that meets your specific needs.

Revitalizing the RRF

The Restaurant Revitalization Fund (RRF) may again be funded if a bill passes the Senate. The bill, H.R.3807 – Restaurant Revitalization Fund Replenishment Act of 2021, was originally introduced in June 2021 by the House – Small Business committee. After a long period of time and important revisions, the bill was reintroduced and passed by the House of Representatives. The bill calls to replenish $42 billion into the RRF, which would be used to fund applicants that were in queue to receive funds until the program was paused.

The SBA was forced to stop providing funds due to a discrimination law suit, and then ran out of funds shortly after.

For more information on this bill, visit the bill’s information page on congress.gov.

Important Info about your SBA Loan: 30-Month Deferral of Payments

The SBA has added a 6-month deferment to COVID-19 Economic Injury Disaster Loans (EIDL). All COVID-19 EIDL loans will have the first payment due extended from 24-months to 30-months from the date of the Note.

For more information in English, visit the SBA Press Release.

La SBA agregó un período de aplazamiento adicional de 6 meses a su préstamo, lo que significa que la fecha de vencimiento del primer pago se extendió de 24 meses a 30 meses a partir de la fecha del préstamo.

Para mas información en español, visite la pagina del comunicado del SBA.

Small Business Guide from the Small Business Administration

Are you looking for a place to begin on your new business journey? Look no further. This comprehensive guide by the Small Business Administration is the place to begin. The SBA frames the journey with four sections: 1. Plan; 2. Launch; 3. Manage; 4. Grow.

Plan your business
Launch your business
Manage your business
Grow your business

SBA Restaurant Revitalization Fund (RRF) – Important Update

Due to recent court rulings, the SBA will not be able to disburse Restaurant Revitalization Fund award at this time. 

The Restaurant Revitalization Fund, enacted through the American Rescue Plan Act, prioritized applications from small businesses owned and controlled by women, veterans, and socially and economically disadvantaged individuals for the first 21 days of the program.  After SBA launched the Restaurant Revitalization Fund, three lawsuits were filed challenging the 21-day priority application period—one in the Eastern District of Tennessee and two in the Northern District of Texas.  These lawsuits have led to three court rulings that preclude us from disbursing award funds to you.  SBA’s leadership is frustrated with this outcome and remains committed to doing everything we can to support disadvantaged businesses getting the help they need to recover from this historic pandemic. 

In the coming days, SBA’s portal system will reflect that SBA will not be able to disburse your award.  Specifically, you will see the status of your application in SBA’s portal change to “fully canceled.”  This status change reflects only that SBA is not able to disburse your award. 

SBA will continue to maintain your processed Restaurant Revitalization Fund application in its place in the application queue based on your date of application.  If Congress provides SBA with additional money for the Restaurant Revitalization Fund, SBA will continue to process in the order received and fund applications as approved until the additional money is exhausted.  You will not be required to submit a new Restaurant Revitalization Fund application.  

Paycheck Protection Program (PPP) Loan – Forgiveness Applications

It’s almost time to rid ourselves of this debt burden! Forgiveness applications for PPP loans received in 2021 will open soon. The forgiveness window for PPP loans obtained in 2020 opened earlier this year.

For businesses that obtained a loan with our help, we will be reaching out when it is time to apply for forgiveness. In some cases we are still waiting to receive an email from the loan processor in order to finalize the forgiveness process.

In the meantime here is some information from the SBA about the PPP Forgiveness process: PPP Forgiveness on SBA.gov

We look forward to a great summer and alleviating our balance sheets of these PPP loans.

Increased Loan Limits and Other Changes for COVID-19 EIDL Program

Economic Injury Disaster Loan (EIDL) from the U.S. Small Business Administration (SBA) were previously limited to six months of economic injury up to a maximum of $150,000. The SBA recently announced a policy change that significantly increases loan limits up to 24 months of economic injury with a maximum loan amount of $500,000.

For loan amounts over $25,000, SBA will continue to take a security interest in business assets evidenced by a general security agreement and UCC filing. SBA will also require an unsecured personal guarantee for loan amounts over $200,000 from any individual with 20 percent or more ownership. Real estate collateral will not be required for any loans of $500,000 or less.

Furthermore, the SBA announced that they are extending the first payment due date for all loans until 2022. For COVID-19 EIDL loans made in calendar year 2020, the first payment due date is extended until 24 months from the date of the note, and for loans made in calendar year 2021 the first payment due date is extended until 18 months from the date of the note. Loan interest continues to accrue during the deferment period, and a loan increase will not further extend your first payment due date.