Donald Walton has been training in martial arts since he was seven years old. But it wasn’t until he found Saratoga’s Elite Academy of Martial Arts at 19 that he began to take his training seriously. On Friday, November 17th, over a decade later, Walton received his Brazilian Jiu Jitsu black belt from Alliance Jiu Jitsu instructor James Bruchac.

“Jiu Jitsu helped bring out who I truly was and helped me become a better person. It gave me purpose and forced me to face myself and improve daily. I am not sure if I would be alive today if it weren’t for this place and this martial art,” Walton said in a statement after his belt ceremony.

Now 32 years old, Walton has become an integral part of the academy’s coaching staff. If one walks into the Saratoga academy on any given night, Walton can be seen teaching striking and grappling classes to children, beginners and devoted martial artists alike. Walton also represents the gym as a professional MMA fighter (with a record of 1-0), a status he acquired earlier this year in February after his round two submission win over Jason LaPage in Barre, Vermont.

“I really enjoy being a professional fighter, even though it hasn’t quite sunk in yet,” Walton said. “There’s a lot more opportunity at the pro level when it comes to opponents, plus you can finally start earning money on your fights, which is always nice.”

Yet, Walton – a student turned teacher, turned professional – has bigger ambitions than just fighting for his own name. He is blending his love of fighting with his entrepreneurial spirit and starting his own fight promotion, based in his hometown – Saratoga Springs. “My goal is to help the level of our community’s martial arts and help give people avenues to be able to make it in this sport if they want to. I’m not doing this for me; I’m in this to help the community,” Walton told us.

Coming in the new year, Walton has teamed up with a local venue to host a night of amateur fighting. But it won’t just be a one-off event. Hopefully, for Walton it will be the first of many nights. Walton continued,“When I was looking into starting my own fight promotion, I reached out to good friends of mine in the fighting world, many of them are experts when it comes to the business side of things,” Walton said.

“All I know, really, is fighting, so I had to build a good team. The owner of DonnyBrooke Fight Promotions [a well known promotion for amateur and professional fighters in the Northeast, based out of Barre, Vermont, where Walton got his debut victory] suggested I work under his name. They have a database of fighters, people reaching out for bouts and a well-established name, so it was a no-brainer for me,” Walton said.

In essence, it’s a franchise deal. Walton will work under the DonnyBrooke name and become the face of the promotion in New York, working closely with fighters throughout the region. The first event is slated for March of 2024, with a venue already established – the Saratoga City Center. “We thought it was the perfect venue for what we are trying to do. The space, the price, all of it. Plus it’s right here in my hometown.”

The City Center has been receptive to MMA events before, having hosted Kaged Kombat roughly a decade ago, at a time where MMA wasn’t nearly as popular. “I looked into a lot of venues, places were either overcharging for very little to nothing, or they just couldn’t fit what I was looking for – in terms of the size of the cage, the seating for the crowd etc,” Walton continued, “the City Center checked all of our boxes for a venue and I really want to keep our relationship with them for the future.”

DonnyBrooke’s New York promotion will put on fights in a variety of disciplines, including mixed martial arts, muay thai, kickboxing and grappling. The fights will be at an amateur level to start, but Walton plans on eventually hosting professional bouts under his promotion.

“I’ve found out that a lot of our local fighters are used to fighting only under one or two promotions, because really, there aren’t a lot of promotions near us. My goal is to have local fighters, be able to compete with fighters from all over the country, creating a fresh pool of talent.” Undoubtedly, this will create a lot more opportunity for local fighters to be seen and work their way up the ranks from amateur to professional, just as Walton did. Plus, for local martial arts fans, it’s a great way to support the local scene while enjoying fight nights right in Downtown Saratoga.

When asked where he sees DonnyBrooke Fight Promotions in the future, Walton said, “I’m hoping, years from now, to have DonnyBrooke partnered for One Championship to be a feeder into a larger, international promotion.” One Championship is a world-renowned fight promotion that began in 2011. The Singapore-based promotion works with smaller promoters all over the world to add to their ever-growing pool of fighters. They even pull from a New York City-based promotion, Warrior’s Cup, which was established in 2006.

“Warrior’s Cup is an amazing promotion, but they had to start where we are now – at the beginning – and slowly build themselves, and that’s what I want to do now, to build this promotion large enough to partner with One Championship,” Walton said.

For more information about DonnyBrooke Fight Promotions, or to buy tickets for upcoming events, check them out on Facebook or visit DonnyBrookeFightPromotions.com

In the wake of recent global shifts, it’s evident that sales management has transformed, leaving leaders and their teams with a unique set of challenges and opportunities to shape the future of their sales organization in a positive direction.

The Evolving Landscape of Sales Leadership

To thrive in the rapidly changing sales landscape, managers need to understand emerging trends that could help them lead and grow more efficiently.

1. LISTEN BEFORE YOU ACT

While the customer has always been king, sales teams often prioritized taking action before listening to buyer feedback. Post-pandemic, it’s crucial to shift this approach. Start by actively listening to your customers’ wants and needs before crafting your sales strategy. Gather insights, conduct surveys, and truly understand your target audience to tailor your approach effectively.

2. FOSTER ENHANCED COLLABORATION

In addition to maintaining strong customer relationships, the future of sales management emphasizes the need for improved internal collaboration within your organization and throughout the supply chain. Encourage open communication, teamwork, and knowledge sharing among your teams to ensure a streamlined, customer-focused approach.

3. CULTIVATE FLEXIBILITY IN SALES LEADERSHIP

To stay at the forefront of evolving sales trends, sales leaders must constantly adapt. To implement this, focus on being a quick learner, embracing technological advancements, and leading your team with purpose. Being open to change and ready to pivot your strategies when needed is the hallmark of a good leader.

Outsourced Sales Management: A Strategic Asset

Amid the rapid shifts following the pandemic, outsourcing sales management has emerged as a valuable tool for businesses. It’s not just a trend; it’s a strategic choice that can significantly impact the future of sales management. Here’s how outsourcing can benefit your business and boost your bottom line:

1. STAY AHEAD OF THE CURVE

Outsourcing to experienced professionals ensures your company doesn’t lag behind in adopting new trends. Outsourced sales leaders stay up to date with customer sentiments, priorities, and sales trends, giving you a competitive edge. By tapping into their expertise, you can build a resilient sales model that better serves your customers and drives higher profits.

2. LEVERAGE SALES EXPERTISE

Seasoned sales experts provide invaluable insights, strategies, and a deep understanding of the sales landscape that can be out of reach for smaller companies. Outsourced sales professionals bring a wealth of experience and specialized knowledge to the table, enabling small businesses to access top- tier talent and industry insights they might not be able to afford full-time.

3. REDUCE OVERHEAD COSTS

Outsourcing can often be a cost-effective solution, especially for smaller businesses. You can scale your sales efforts up or down as needed, avoiding the burden of maintaining a full-time, in-house team during uncertain times.

The Bottom Line

Businesses can harness the power of outsourcing their sales function, a strategic move that can be especially beneficial when lacking the financial capacity for in-house leadership at the same level. By leveraging these experts, businesses can navigate complex sales challenges, stay competitive, and achieve revenue goals without the hefty costs of maintaining a full-time sales leadership team. As an experienced professional who understands the ever-changing sales trends, I can help your business stay ahead of the curve.

Don’t let the fast-paced sales world leave your business behind – contact me today and I will help you build a resilient sales model for tomorrow.

A Missouri jury recently issued a verdict that could transform the way real estate agent commissions are paid, and who pays them.

On Halloween, the jury in a class action suit found the National Association of Realtors (NAR), together with a couple of national real estate brokerages, liable for conspiring to create a system that artificially inflated commissions for home sales under the Sherman Act and Missouri antitrust law. The jury awarded damages to the tune of $1.8 billion, which could be tripled to more than $5.3 billion by the Judge in the case under U.S. antitrust law. NAR has stated that they intend to appeal the verdict.

In a typical real estate transaction, the Seller is responsible for paying anywhere from 5-6% of the sales price as a commission to their listing broker, who then splits that commission with the agent who brought the successful buyer to the table.

The jury agreed with Plaintiffs that requiring payment of buyers’ agents’ commissions from the listing agent created a system that suppresses competition and artificially keeps buyers’ agents’ commissions in the 2 1⁄2 to 3% range, despite the perception that buyers’ agents’ roles have been diminishing due to the online presence of information about homes for sale.

What this verdict suggests is that if buyers were required to pay their own agent’s commission directly,

they would be able to save money by shopping around and potentially negotiating better commission rates. Furthermore, sellers would no longer be absorbing the additional cost of a buyer’s agent’s commission in their sale price. And, since this verdict, there have been several additional class action lawsuits filed throughout the country, including New York State.

While it is important to underscore the importance of antitrust laws in our society, before anyone begins waiving a victory banner, let’s consider for a moment the far-reaching impact this decision could have. Is this actually good for buyers? Is it good for sellers? Is it good for the housing market?

At first glance, this sounds like a good thing for buyers. After all, they would now have the ability to negotiate with agents and save money on their commissions, right? True, until you consider how and when the agent will want to be paid. Are buyers going to be able to come up with an additional $5- 10k as closing costs for commissions?

Many would argue that this would be difficult if not impossible for first-time homebuyers or buyers utilizing FHA loans. Would we thereby be reducing the number of available homebuyers to the market? Also, it is not uncommon for a buyer’s agent to show more than a dozen homes to their buyer before their buyer submits an offer on one of them. And, many buyers lose out in several multiple offer attempts before their offer is finally accepted. So, if buyers now become responsible for paying their own agent directly, will agents begin a practice of requiring a retainer fee to help offset their travel expenses for showing homes?

Bottom line, is this going to create a chilling effect on buyers using agents where more buyers will attempt to represent themselves in their home-buying journey? Caution should be given to anyone seeking to represent themselves in such a large purchase.

What about our sellers? Surely not having to pay an additional 2 1⁄2 to 3% in commissions to the buyer’s agent is good for the seller, right? Maybe, unless you consider the above scenario. With fewer homebuyers being able to afford the additional closing costs or becoming discouraged when they attempt to go it alone, will there be fewer multiple offer situations to help bid up the price of the property, allowing the sellers to achieve the maximum amount for their property?

Will buyers essentially have less buying power with less available money to put towards the purchase price? Will we have more unrepresented buyers pulling out of deals due to not receiving the education they would have received by working with an agent? It costs the Seller both time and money every time they have to prepare and re-list a home for sale.

While more class action suits will continue to roll in, we should not expect to see any final decisions or changes to the current structure for some time, especially in light of anticipated appeals, the usual trope for such large-scale calamities.

While some will claim “change is good,” others will caution “be careful what you wish for.” As the economy continues to sputter in part due to a sluggish real estate market, careful consideration should be given to weakening an already fragile market.

The journey to business ownership is an exciting yet complex path, laden with significant financial decisions and preparations. Acquiring a business is not just about making a purchase; it’s about setting the stage for future success.

In the first 2 parts of our 4-part series, we talked about the benefits of buying and selling a small business, as well as the initial steps in the process. In Part 3 of our series, this quarter’s article aims to navigate you through the financing process and options.

Traditional Financing: Banks & Credit Unions

Banks and credit unions are the go-to sources for traditional financing. They offer loans based on several factors such as your credit score, a well-crafted business plan, and the financial health of the business you’re interested in. It’s vital to understand the terms of these loans, which often require collateral and come with stringent repayment conditions. While this route can be beneficial for those with a strong financial background, it may not be accessible to everyone.

SBA Lending: A Helping Hand for Entrepreneurs

The Small Business Administration (SBA) offers a lifeline to entrepreneurs, providing access to capital through various loan programs tailored to small business needs. These loans, known for their favorable terms and lower interest rates, significantly ease the financial burden on new and growing businesses. Additionally, the SBA offers guidance and resources, making it an invaluable partner for entrepreneurs navigating the complexities of business ownership and expansion.

• SBA 7(a) Loans: This program, designed for broader purposes, is especially beneficial for buyers who may not qualify for traditional loans. It offers competitive interest rates and longer repayment periods.

• SBA 504 Loans: Targeted towards the purchase of real estate or heavy equipment, this loan is ideal if the business you’re acquiring includes substantial assets.
• SBA Microloans: These are smaller loans, perfect for startups or as supplementary funding. They’re a great option for those looking at smaller ventures.

Seller Standby Note: A Unique Financing Option

In certain cases, sellers are willing to finance part of the purchase price. This involves the buyer paying a portion upfront and the seller financing the balance. These arrangements can be particularly useful in bridging the gap if you’re unable to secure the full amount through other means. It’s a path that requires careful negotiation to ensure terms are favorable for both parties.

Equity Financing: Sharing the Ownership

Seeking investors who provide capital in exchange for equity is another route. While this is a traditional approach for startups, its becoming more common for buyers to take on minority investors looking for opportunities to align their strategic goals, networks and skills with buyers they believe in. You will have to give up a share of the business in return for the investment. In return, you should be looking for ways the investor can help scale the business beyond investment dollars.

The Importance of a Solid Financial Plan

Before embarking on any of these financing routes, it’s crucial to have a clear and detailed financial plan. This includes understanding all the costs, interest rates, and terms associated with each financing option. Working with a financial advisor or an accountant who has experience in business acquisitions can be invaluable in this regard. Start by evaluating your financial situation thoroughly, including your assets, liabilities, credit history, and current financial obligations.

You’ll also need to craft a business plan to secure financing and thoughtfully plan your venture. This should encompass financial forecasts, market analysis, and strategies for growth. A well-developed plan demonstrates to lenders and investors that you are prepared and committed to the business’s success.

Navigating the Negotiation Process

Negotiating the purchase price of a business requires skill and understanding of its true value. This involves analyzing the business’s earnings, market position, and growth potential. An accurate business valuation or a quality of earnings report, ideally conducted by an experienced professional, forms the basis of effective negotiations and fair market value of the business.

Conducting Thorough Due Diligence

Due diligence extends beyond mere financial scrutiny; it encompasses a comprehensive analysis of the company’s market position, competitive landscape, and customer base. This broader perspective offers insights into the business’s sustainability and growth potential, factors that are essential for long-term success. Additionally, due diligence also involves evaluating the management team and employee structure, as the caliber and stability of the workforce are pivotal to the ongoing operations and future development of the business.

Risk Management Strategies

Identifying and mitigating risks is an essential part of the acquisition process. Strategies such as securing appropriate insurance, developing contingency plans, and maintaining a financial buffer can help manage the risks associated with a new business venture.

Closing Thoughts

Purchasing a business is a very serious undertaking that requires thoughtful financial preparation and planning. By exploring various financing options, assessing your financial standing, crafting a comprehensive business plan, and conducting thorough due diligence, you can navigate this challenging landscape more effectively. Remember, the guidance of experienced financial and legal experts can be invaluable in making informed decisions and setting the stage for the successful ownership of your new business venture. The key to a successful acquisition lies in thorough preparation and strategic financial planning.

Coming up in our fourth and final installment, we will be talking about the final steps in the sale process— ways to find the right business for purchase.

Attorney Advertising. Prior results do not guarantee future outcomes.

For the past twenty years, I have marveled at the thousands of strategies for making money in the markets and making money in business.

Often these strategies are completely contradictory to one another yet when applied appropriately, both can work. For example, some investors consider themselves contrarian investors, one of the most famous being Warren Buffet. These investors tend to look for companies who have depressed stock prices, not so much from the company’s doing but the environment in which they find themselves. When many others are selling, contrarians are looking to buy. On the other end of the spectrum, you have momentum investors who are looking for stocks that have higher prices over some period. In a sense they may be looking for a speeding train, jump on and ride that momentum to higher gains.

Very different philosophies and both can work when applied appropriately.

The above sets the framework for a distinction I would like to share and an opportunity you have as a business owner or investor in this New Year. Though there are thousands of ways to make money in business and the markets, I have been able to identify only two variables that tend to be present when people lose significant money in business or investing. I want to be clear that these are my personal observations over the past twenty years of meeting and working with thousands of business owners and investors.

The Impact of a Liquidity Crisis and Overconfidence

The two variables I have identified after examining many failed businesses and investments are a liquidity crisis and over confidence. These can happen in any order. When someone has a liquidity crisis, they are often forced to sell assets at inopportune times. Inevitably, the times at which people need money are exactly at a time when selling assets is not necessarily favorable. Think about the Pandemic. This gave many business owners a crash course in how quickly a liquidity crisis and overconfidence can create significant losses. The hospitality industry was hit harder than most industries. What do you do when you have a fully staffed restaurant that has invested significantly in their infrastructure to create a wonderful dining experience for their patrons, and ALL the patrons go away in one day?

The government stepped in and was able to help many of those businesses but for the ones who lacked liquidity to keep their doors open until that help arrived, in many cases these businesses were forced to close their doors forever.

How about some of the large bank failures? Perhaps there was overconfidence after years of low interest rates and controlled inflation that the Federal Reserve would raise interest rates at a snail’s pace should the need arrive. This would give these banks enough time to get their assets matched appropriately to their liabilities. As history has now revealed, this was not the case, and many banks failed.

Liquidity is an area that we spend a significant amount of time discussing and investigating with our clients. Each client, depending on many different variables, has a different number for what constitutes an appropriate level of liquidity. How this liquidity is housed can also vary widely. Simply leaving money in a business checking or brokerage money market account can have a significant drag on potential returns over the years.

Many of the business owners I work with have thriving businesses. With that said, when I look at the past 5, 10, or 15 years and ask them what they have to show for it…they sometimes look back puzzled. ‘What do you mean? I have a thriving business.’ Which is true, but often, that thriving business has supported an equally thriving lifestyle. As entrepreneurs, aside from lifestyle, we often are geared toward investing everything back in our business. And this can be a winning strategy…until a liquidity crisis and/or overconfidence rears its ugly head. If you have been in business long enough, you know exactly what I am saying as you have likely weathered a number of these storms.

I believe that if you are a business owner or serious investor, quantifying your need for liquidity and how to house it should be part of your New Year’s Resolution. One of the things we say at Thoroughbred Advisors is, “every day is a good day to save, but not every day is a good day to invest.”

If you would like to involve a financial professional in your discussions regarding your liquidity and growth strategies feel free to reach out to us at 518-608-4608 to have a complimentary consultation.

The information provided herein is for general informational purposes only and should not be considered investment advice. Any strategies described may not be suitable for everyone. Readers are encouraged to evaluate all information in light of their own situation, and seek the advice of an appropriate professional advisor.

Thoroughbred Advisors is a leading financial firm dedicated to providing tailored, transparent, and authentic financial solutions for their clients. Established in 2014, the firm focuses on empowering individuals, families, and businesses in the Capital Region to achieve lasting financial success.

www.thoroughbredadvisors.com

Visit our office at 421 Troy Schenectady Rd, Latham NY 12110

When industrial controls and automation company RASP Inc. added a 6,000-square-foot facility to its complex over the summer, its Gansevoort footprint swelled to over 30,000 square feet.

That’s not bad, considering that the company owner started the enterprise nearly three decades earlier on the landing just outside his front door as the only employee.

“It was me from day one,” recalled owner and chief executive officer Ron Richards of the business — then called Protech — he created in 1995. “I was the designer, the programmer, and I built the panels. I was building control panels on my porch at my house.”

In the succeeding 28 years, the enterprise has changed its name (to RASP), moved from its original location (in South Glens Falls), exponentially increased its staff (to the current total of 35 employees), and, now, augmented its building complex.

The new facility “is a combination manufacturing site and offices,” said Richards, who was born and raised in Corinth. The Saratoga County site – originally 22,000 square feet, supplemented four years ago by a 2,500-square-foot facility — simply was not sufficient to keep up with the demand for the company’s services. “We ran out of office space,” Richards said.

Richards, 56, describes his company as a kind of jack-of-all-trades in the electronics industry.

“We’re what’s called a systems integrator, which is just a fancy [term] for ‘we do a lot,’” said Richards with a laugh in a recent telephone interview. “We’re an electrical engineering firm, we’re also programmers for industrial use, we’re also a manufacturer, and we’re also a service company.”

The majority of the staff is composed of panel builders, though RASP currently employs 10 engineer-programmers who “design the control systems that we may or may not build,” Richards said.

On its website, the company lists programming topics such as HMI (human-machine interface) proficiency. For HMIs, commonly known as touch screens, RASP can program, enhance, or customize graphics. One of the topics listed under the RASP website’s “engineering” section is “motion and servo controls,” which Richards said falls under the category of automation.

“It could be a simple motion like a conveyer, or it can be a complicated machine that’s doing a lot of operations,” Richards said. It’s typical for one of RASP’s clients to design a machine, then approach RASP with a fairly direct request: ‘We need this thing to work.’ As Richards explains, “We build the controls, not the machine itself.”

RASP does not make a standalone product of its own. But it does just about everything else.

“We consider ourselves a manufacturer’s extension for other companies,” Richards said. “They come to us. If their machine needs a new control panel, we [can] design it, build it, and program it. It can be a chemical company or a manufacturer in water treatment, medical, power, machine builders — we get to see all kinds of different companies.”

Growing up, Richards attended Corinth High School and studied electronics at BOCES in Saratoga. There, he volunteered for a summer job at Raloid Tool Co. in Mechanicville, where he learned how to make electrical control panels

“That’s how I got introduced to industrial controls,” he said.

Later, after studying electronics at Fulton-Montgomery Community College and going back to work at Raloid (as well as serving a four-year stint in the U.S. Air Force), Richards struck out on his own – with RASP the result.

When the business was incorporated in 1995, Richards and his two original partners — whom he declined to name — used the first letter of their last names plus the “P” in the word “products” to come up with RASP. His current business partner, Michael Close, joined the company in 1997.

Though RASP counts behemoths such as Rockwell international, General Electric, and Emerson Electric among its clients, most come from within a 50-mile radius of its Gansevoort complex. “But because we’re building for other companies, the products can go anywhere in the world,” Richards said. “I have an employee in Canada (and) we’ve done work in New Jersey, we’ve done work (for firms) in Chicago, California, Texas.”

Because of the COVID-19 pandemic and other economic uncertainties, many companies have struggled to stay in business over the past few years. Through nearly three decades, however, RASP has thus far weathered every financial storm.

“We’re in a good position,” Richards said, humbly. “When the economy is doing well, companies are spending money. When the economy is not doing so hot, many companies may downsize, and if they’re downsizing, say, in their maintenance department, then they call on us. Or maybe they are manufacturers themselves, and they can’t support as many engineers, they can call on us on an as-needed basis. So we tend to stay strong in both good and bad economies.”

According to Richards, his primary goal is “keeping the people I have. It’s just a great team. Everyone here – they are team players. They take pride in their work. They do whatever they have to do when asked,” although, he adds, “I don’t have to ask too often.”

While he is happy with his company’s niche in the electronics industry, Richards is not complacent.

“A lot of what we build is what we call one-offs, or low volume. We design and build [a product], and it goes on a machine, or it goes to a customer, and we never build that one again. In the new facility, I’m hoping to build more repeat business. We’re trying to get the word out that we’re looking to handle larger volumes [for a company that needs] to build dozens, or hundreds, or even thousands of something.”

When it comes to electronics support, RASP, it would seem, has it all under control.

For more information, go to rasp-controls.com, email info@rasp-controls.com or call 518-747-8020.

While there are some things that stay the same year after year, IT isn’t one of them.

One of the things we love most about this industry is the constant evolution of tools, solutions, and technologies.

What’s going to have the biggest impact on IT for businesses in 2024? Here are ADNET’s predictions, based on industry insights, our national network of partnerships, and global trends we’re seeing – and tips for implementing them at your organization.

AI FOR BUSINESS

You’ve probably been hearing a lot about AI in the past year, and that’s not likely to change in 2024. With tons of business applications being developed for the technology, it’s poised to become an integral part of how organizations operate.

Businesses can already use AI in lots of different ways. Beyond ChatGPT, major corporations like Microsoft are investing substantial resources in the technology. These new AI applications are highly customizable and can be adapted to the unique needs of your business. They can help you generate or explain content, serve your customers, leverage search capabilities, and translate conversational language into code.

Most AI applications are available as a subscription model – some are even free. But as with any tool, “free” can be more of a warning sign than a draw. There’s nothing wrong with using free tools, but make sure you’re reading the full terms and conditions if you plan to. With the rise of new technologies comes new security risks. When incorporating AI into your business strategy, make sure you’re doing it with privacy and security in mind and discussing it with your IT partner.

ENABLING WORK-FROM-ANYWHERE

In 2020 and the years that followed, there was a mass exodus when it came to working in offices. Now, there’s a widespread push to return to a more traditional office environment. But ignoring the benefits of enabling your team to work from anywhere could be detrimental to your business. There’s no right answer to whether you should allow your team to work from anywhere, but not offering it can hurt your business.

Flexibility not only helps with talent retention and recruitment, it also helps people stay productive regardless of common barriers. While some organizations are encouraging a more traditional office environment, many are embracing what enabling their teams to work from anywhere allows. Working remotely can give your employees more work-life balance, and ultimately lead to more productivity.

ADNET has had a work-from-anywhere policy in place for years and built our new office spaces with that in mind. We’ve seen the benefits with our team – people are more productive, focused, and happier – and our clients are too. But at the end of the day, we need to prioritize security for the clients we serve. We wouldn’t allow our team to work remotely without leveraging the proper security tools and an expertly implemented cloud environment.

Is your organization looking for ways to implement a work-from-anywhere policy? Our next tips for building secure cloud environments and pursuing digital transformation can help.

SECURE CLOUD ENVIRONMENTS

No matter where your team works, a secure cloud environment can benefit your business. In addition to not having to replace aging hardware every few years, empowering you and your team to securely access your business-critical data helps when the unexpected happens. In 2020, we were able to seamlessly pivot to working from home when we needed to – with no interruption to our ability to provide service to our clients, thanks to having a secure cloud environment in place.

Cloud has been gaining momentum for years now, but with major backers like Microsoft and Amazon, the technology and support have never been better. Small and large companies are transitioning to cloud instead of upgrading on-premise hardware. If you’re not already leveraging the cloud, you’re missing out.

Before making big hardware purchases this year, you might want to discuss cloud options with your IT partner. You could save money and end up with a more efficient, flexible solution.

DIGITAL TRANSFORMATION

Digital transformation encompasses many different things – but mostly it’s about enabling your business to become more effective and efficient by using digital solutions and tools like AI, managed IT services, managed security services, application services, productivity training for your team, and more.

While it’s not a single product or piece of technology, digital transformation is one of the biggest IT trends we anticipate for 2024. Businesses are looking to compete in a challenging economy, and digital transformation is a way to do that. Focusing on what your business needs to scale and shift quickly is imperative. Modernizing your technology, policies and process has a positive impact on your clients, team and business.

But don’t get caught up in the buzzwords with these IT trends – make sure your IT partner is having real discussions about the business

challenges these tools solve. Not every single solution is right for everyone, and that’s okay. Making sure you have the right technologies and tools in place isn’t necessarily trending, but it’s the most important thing you can do.

If you have questions about any of these technologies and if they’re relevant to your business, or how you can leverage them as part of your strategy to meet your goals – reach out to a trusted IT partner and have the conversation. Implementing anything without a strategy and security in place can be a costly risk. This is by no means a comprehensive list of new tools and technologies, but if you’re looking to get ahead of the IT curve in 2024, it’s a great place to start.

Need help implementing any of these technologies and tools, or want to learn more about how they can transform your business?
Reach out to us at thinkADNET.com – we’d be happy to help.