Monthly Archives: January 2018

Returnships for Retaining Women

It started as a whisper. Back in 2008, Goldman Sachs, which originally coined the term returnships, began a high-level, paid internship program for professionals returning to the workforce after an extended absence, with the opportunity for a permanent role. The participants were mostly women who had dropped out to raise children and now wanted to restart their careers.

That whisper is now growing louder. Returnships have become more common; they are a part of the conversation in business and media circles. The U.K. prime minister is even getting in on the act: The day of the country’s 2017 budget announcement, Theresa May unveiled a £5 million (US$6.2 million) fund to identify opportunities for — guess what? — returnships.

iRelaunch, a U.S.-based business specializing in returnships, has identified more than 100 active programs globally, in sectors as diverse as construction, advertising, and financial services. They’re clearly making a mark: Many corporate heads of diversity, when asked what they’re doing to create senior-level opportunities for women, will reply, “We’ve got this covered — we have a returnship program.” But the situation is not that simple. Both organizations and women seeking to return to the workforce should be aware that these programs aren’t a panacea.

How to Secure Mobile Workforce Devices

Bluetooth is best known as the wireless technology that powers hands-free earpieces. Depending on your point of view, people who wear them either:

a) Look ridiculous (especially if shining a bright blue LED from their ear);
b) Appear mad (when apparently talking to themselves); or
c) Are sensible, law-abiding, safety-conscious drivers.

 

Whichever letter you pick, insidious security issues remain around Bluetooth attacks and mobile devices. While most of the problems identified five to 10 years ago have been straightened out by now, some still remain. And there’s also good reason to be cautious about new, undiscovered problems.

 

Here are a few examples of the mobile security threats in which Bluetooth makes us vulnerable, along with tips to secure your mobile workforce devices.

 

General software vulnerabilities

Software in Bluetooth devices – especially those using the newer Bluetooth 4.0 specification – will not be perfect. It’s unheard of to find software that has zero security vulnerabilities.

As Finnish security researchers Tommi Mäkilä, Jukka Taimisto and Miia Vuontisjärvi demonstrated in 2011, it’s easy for attackers to discover new, previously unknown vulnerabilities in Bluetooth devices. Potential impacts could include charges for expensive premium-rate or international calls, theft of sensitive data or drive-by malware downloads.

To combat this threat: Switch off your Bluetooth when you’re not using it.

 

Eavesdropping

Bluetooth – named after the Viking king, Harald Bluetooth Gormsson, thanks to his abilities to make 10th-century European factions communicate – is all about wireless communication. Just like with Wi-Fi, Bluetooth encryption is supposed to stop criminals listening in to your data or phone calls.

In other words, eavesdropping shouldn’t be a problem. However, older Bluetooth devices use versions of the Bluetooth protocol that have more security holes than a tasty slice of Swiss. Even the latest specification (4.0) has a similar problem with its low-energy (LE) variant.

Need to Know About Business Plan Mistakes

The importance of business planning is widely documented; however, guidance as to what constitutes good business planning is less clearly defined. This article aims to redress that imbalance by describing 10 of the most common mistakes that occur in business plans.

While the business-planning process is in itself a very worthwhile pursuit, most business plans are produced for a specific purpose. The plan is used as a means to convey an idea with a view to achieving a specific goal, e.g. securing funding. Hence the plan needs to be tailored with the audience in mind, and good knowledge of their requirements will help shape a winning plan.

For example, the requirements a Venture Capitalist will have in assessing a plan seeking to secure a million-pound investment will differ considerably from those of a local bank manager who needs a plan to support a small-loan application. While the former will be primarily looking for capital growth, the latter will be more concerned with security. Regardless of the specific purpose of the plan, these following business plan lessons will apply.

1. Incredible financial projections

One of the key areas business plan readers will focus on will be ‘the numbers’. Specifically, they will concentrate on the projected Income Statement or Profit & Loss. The fact that numbers are projected does not mean that those figures can be included without due rigour or process. They need to be credible, defensible and consistent. Of course forecasting is not an exact science, and the use of proxies can help the author ensure that the figures included are plausible and consistent with the story being told in the other areas of the business plan. The figures must also show an ability of the company to generate free cash flows so that the business can be run profitably while satisfactorily servicing their debts at the same time.

All costs should be recorded including salaries to owner managers who run the company. It is not credible to generate P&L projections where expenses such as salaries are omitted to demonstrate managerial commitment or to artificially reduce losses, etc. By the same token, no investor will be prepared to fund a business where the projected salary payments are excessive. While dealing with finances is not everyone’s strong point, there has to be someone on the management team who is cognizant with the maths. A business plan will need to include everything from break-even projections to proposed return on investments to cash flow forecasts, and one of the key players will have to converse on these subjects in a convincing manner. They will also need to justify the numbers.

2. Lack of a viable opportunity

A business plan needs to not only describe an opportunity, it must also detail how the opportunity can be exploited profitably and demonstrate the company’s ability to deliver what is required. In recent years there has been a significant increase in plans that are inaccessible to the average reader because they are couched in technical jargon and unfamiliar terms. If the reader of the plan cannot fully grasp who the prospective customer is, how that customer will be targeted, and the prospective benefits from the proposed solution, the reader will not invest. In an increasingly time-pressed world, people crave simplicity. Many business plan recipients will only scrutinize the Executive Summary and the financials, using these as the decision points as to whether to read further or not. Hence it is of paramount importance that both the executive summary and the wider plan describes the opportunity in readily understood terms, such as:

  • What is the issue or pain point?
  • What is the proposed solution?
  • What are the benefits of the solution?
  • Why are these benefits compelling?
  • Who will benefit the most from these?

Once these are detailed, there will be greater transparency regarding the viability, or otherwise, of the proposed opportunity in terms of the company’s ability to profitably serve the target market.

3. No clear route to market

All opportunities are only prospective ones without evidence that the target market can be accessed profitably. Many entrepreneurs are inherently product focused, concentrating their energies on ‘the idea’ to the exclusion of many other important elements such as how they intend to access their customer base. The growth in popularity of the Internet has certainly helped niche producers find geographically dispersed customers, making many more ideas commercially viable. However, it does not come without its challenges, as creating awareness online is both costly and intensely competitive. The business plan must include a comprehensive and credible analysis of how the company intends to secure access to their target market in a cost-effective manner. The low cost and barriers to entry for websites have resulted in the creation of hundreds of thousands of sites. Ensuring that a site stands out from the crowd is easier said than done. Knowledge of who the customer is and how they buy is very important, but identifying them and accessing them on an individual basis is much more challenging and costly.

4. Overestimation of revenues

Another key element of the plan will relate to the size and value of the opportunity. Does the business plan describe a small local business-to-business opportunity with limited scalability/ return or is it a concept with widespread or even potentially global consumer appeal? While the description of the market opportunity will undoubtedly be couched in positive terms, an obvious danger relates to the innate optimism of entrepreneurs and their tendency to exaggerate every business opportunity. Hence the general interpretation of sales forecasts is that they will be optimistic but not excessively optimistic. Admittedly what constitutes ‘excessive’ is subjective, but the numbers will need to be justified and if it emerges that the figures are mere fantasy, the author will lose all credibility and it will significantly undermine any confidence the potential investor might have in the plan.

Opportunity for businesses of all sizes

The Apple iPad and its many Android “sincere flatterers” have comprehensively shaken up the market for mobile computing; in fact, the late Steve Jobs coined the phrase “post-PC for just this situation.

The days of the traditional laptop computer may not be totally over, but is a hinged screen-keyboard combo the only tool for serious mobile work? Nope. Here are five reasons why….

 

1. For content creation, just add keyboard

Tablets are great for content consumption. Hit the button, and you’re immediately scrolling through Web pages, YouTube videos, annoyed avians and the like. This can lead to the impression that tablets are only good for passively consuming; that they’re no use for creating content, such as documents, spreadsheets and other staples of business life, but that’s short-sighted.

Obviously, tablets’ on-screen keyboards aren’t easy or ergonomic typing tools. However, there’s a wide range of Bluetooth options available that can turn an iPad or Android tablet into a lean, mean, writing machine.

 

But if you’re going to add a keyboard to your tablet, why wouldn’t you just buy a laptop? The next three reasons answer that…

 

2. ARM = light weight + long battery life

PC and Mac laptops are built around the Intel processor architecture, using chips from either Intel or AMD. Often known as x86, the architecture is great for compatibility with the PCs we’ve used for years, but it’s encumbered with historical baggage that makes x86 machines hot, heavy and hungry for battery juice. Modern laptops have improved but are still a world away from today’s tablets.

Most tablets break from Intel’s historical hegemony by using chips designed by ARM. These so-called system-on-a-chip architectures use much less power than x86 – especially when idle. This and modern battery technology can give tablets a 10-hour life and weeks of standby readiness, which means you can get more work done on the go.

Intel is fighting back, though the jury’s still out on whether it can compete. Intel tablets will at least be able to run the full version of Windows 8, as opposed to the cut-down, ARM-only Windows RT.

 

3. Cellular data: a first-class citizen

Today’s tablets often include access to 3G and 4G/LTE networks. The data networking technology is seamlessly integrated, so that you can switch between it and Wi-Fi with no noticeable interruption.

That’s much cleaner than the typical Windows or Mac laptop with an add-on 3G dongle; the difference being that cellular data was designed into tablets from the get-go. So there’ll be fewer excuses to not get the presentation finished on time.