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It might sound a little silly that there’s an entire subgenre of influencers who offer investment advice around Pokémon trading cards. Probably because it is a little silly. The idea of some YouTube Jim Cramer breathlessly warning viewers that “Surging Sparks is setting a fire under collectors and investors” is the stuff Saturday Night Live sketches are made of. Yet, there’s nothing silly about the amount of money changing hands in the Pokémon card space these days. Especially right now. If it weren’t clear from all the viral videos of brawls at various Costcos, the soaring popularity of Pokémon cards has lately reached stratospheric new heights. (Costco ultimately had to institute a “one unit per membership per day” policy on its Pokémon offerings.) Overall value of the cards has spiked by 20% in the past six months—according to Elizabeth Gruene, who oversees Professional Sports Authenticator (PSA)’s pop culture and trading-card-games division—with some individual cards skyrocketing by as much as 150%. And a lot of that increase has happened in just the past few months. What’s behind the surge? A confluence of events Gruene describes as a “perfect storm,” building on several years of intense interest in Pokémon. The Pokémon phenomenon originally began in 1996 when Japanese boutique video-game company Game Freak launched the first-ever game in the series. Players set out to capture all 151 species of “pocket monsters” dispersed throughout a magical realm, hence the catchphrase, “Gotta catch ‘em all.” The game was an instant, monster-size hit that spawned a multibillion-dollar empire of movies, TV shows, theme parks, and, of course, trading cards. When it reached the U.S. in 1999, kids across America quickly adopted the catch-‘em-all ethos, tearing through packs in search of rare cards to impress their friends with or—among the more enterprising youngsters—to appreciate in value. Those kids have since grown into working adults, many of whom now have enough disposable income to buy the rare cards that once eluded them—say, a first-edition Shining Charazard now worth $4,000—or buy packs for their own kids from the Pokémon vending machines now at grocery stores around the U.S. (The standard price for unopened packs is generally $4.49, but good luck getting your hands on them at the moment.) Millennial nostalgia, combined with high-profile superfans like Logan Paul, led to a veritable pokéssance, so to speak, starting in the early part of the pandemic. Pokémon trading cards have since become so popular as a game, as a series of collectibles, and as an investment opportunity, that PSA, the industry leader in assessing the condition and legitimacy of trading cards, now grades more Pokémon cards than baseball or any other sport. Even with Pokémon interest already fairly high, though, Gruene noticed a massive uptick of late. “Our submission numbers are just insane right now,” she says. “We have quite a big backlog that we’re working through.” [Photo: John Keeble/Getty Images] One of the main drivers of the surge, according to Gruene, is a newly strong release slate. While 2024 was mostly soft in terms of excitement around new Pokémon offerings, November’s Surging Sparks series introduced a lot of highly sought-after cards. That release was followed in January by a new one, Prismatic Evolutions, featuring some extremely popular characters from Pokémon lore, including Eevee and the Eeveelutions. (Some of the chase cards from Prismatic Evolutions—an Umbreon ex Special Illustration Rare card, for instance—are so sought after that they’re already reportedly worth more than $1,500.) One reason the excitement around certain new releases reverberates beyond players and over to the purely investment-minded crowd is because more new Pokémon cards have instant high value than their sports-cards brethren. While the most valuable baseball cards are overwhelmingly vintage cards, Pokémon produces a greater volume of high-value new cards. A particular rarity from November’s Surging Sparks release, for instance—Pikachu ex Special Illustration Rare—recently sold for $1,000 on eBay. “With the new sports releases, it has to be a one-of-one or some really low population-count card to have a ton of value, but we don’t really see that as much in Pokémon,” says Gruene. “There might be a new card that comes in 10,000 or 20,000 packs that could each still sell for $1,000-plus. The total market cap for these cards is just a lot bigger than what we see in sports.” The value of any trading card is determined by the secondary market, and whatever people are willing to pay for it. In the case of Pokémon, people are willing to pay five, six, and in some cases, seven figures, though since the vast majority of packs contain only cards worth as much as the paper they’re printed on makes card-flipping more like gambling than an investment. But booms in value like the one we’re now experiencing, tend to follow excitement around the cards—a hype cycle in which resellers can charge more once demand outpaces supply. While some coveted new releases have helped fuel the current enthusiasm around Pokémon cards, another factor driving it is the Pokémon Trading Card Game Pocket. The game, which came out October 30, recreates the experience of opening packs of Pokémon cards but also adds an immersive element, transporting players into the pocket monsters’ world. By mid-December, the mobile app had already been downloaded more than 60 million times. Popular streamers on Twitch and on YouTube had turned the act of opening packs into a vicarious thrill; TCG Pocket gave those onlookers, and newcomers, a way to experience it themselves. It seems quite likely that the game’s explosive popularity enticed droves of new fans to take the leap from opening virtual packs of cards to seeking out the real thing. “That was a big cultural moment,” Gruene says. “And we did see a big bump in trading-card submissions around that time frame last year too.” A final potential factor in the recent spike in Pokémon card value, according to Gruene, is the new partnership between PSA and GameStop. Sending cards off to PSA for grading can be a complicated process for newcomers, but ever since the partnership began last October, card owners can now just drop off their wares at a GameStop and let the workers do the rest. That increased accessibility for a necessary step in selling high-value cards, arriving alongside the new mobile game and some sensational new card series, may have added to the recent value surge. It certainly couldn’t have hurt, at least. Of course, the danger around this boom is that it could end up being a Beanie Babies-like bubble (and fodder for an Apple TV+ original movie a decade or two after it bursts). Whether the current hype lasts much longer is a mystery for Detective Pikachu, but considering that next year is the 30th anniversary of Pokémon, many more people just may catch it. View the full article

Indiegogo is a crowdfunding platform that enables users to gather funds for an idea, a start-up business, or a charitable cause. This method of fundraising is particularly beneficial for small businesses seeking additional financial support to grow, purchase equipment, or develop a new product concept. Unlike traditional funding, Indiegogo is risk-free compared to seeking bank loans and circumvents application and approval stages. Indiegogo has helped bring more than 800,000 innovative ideas to life thanks to its more than 9 million strong backers, representing 235 countries and territories. The popular crowdfunding platform has some fifteen million people visiting the site each month. Find out everything you need to know about Indiegogo here. What Is Indiegogo? Indiegogo is a crowdfunding platform that allows users to finance and launch their startups, campaigns, products, and services. Users of the Indiegogo platform can create a campaign page to share their story, present their project to potential backers, and then begin raising funds by soliciting donations from these potential supporters. It comes with data-driven insights that can help you tweak your proposal for effective campaigns. For its service Indiegogo charges a 5% platform fee on all funds raised for your campaign. The fees are calculated and deducted from the funds you actually raise and not for the financing goal you set. Benefits of Indiegogo for Small Business Crowdfunding Crowdfunding through Indiegogo is not simply a way to raise money to finance a new product or venture it comes with other benefits as well, these include: It is quick and versatile: crowdfunding can raise funds very quickly and also reach a lot of people through marketing campaigns. Easy to run: You can easily put together a crowdfunding marketing campaign more easily and quickly than pitching to larger investors. Most people who invest in crowdfunding campaigns do so without requiring extensive background information because they tend to be investing a relatively small amount of money. Access to relatively easy money: Crowdfunding platforms such as Indiegogo allow you to raise funds for your projects or business without having to give up an equity stake or provide collateral for a loan. The funds are received as free donations. The ability to validate your idea, product, project, or startup: crowdfunding platforms can be a great way to get feedback on new products and on whether people would purchase your product or service. It can let you see if people are interested in your products, what problems they want to be addressed, and more. Create a community around your product or service: They also offer an opportunity to get feedback on improving your product or service while helping to create a community to raise your profile and build bonds with fans and supporters. In addition, investors can track your progress helping you to promote your brand through their networks. Building communities around your product or service can also help you determine to add more features, add tweaks or incorporate other features. How Does an Indiegogo Crowdfunding Campaign Work? Indiegogo offers entrepreneurs the opportunity to find support and financing for their projects. Besides offering you an opportunity to raise funds Indiegogo also offers perks to say thanks to backers, in exchange for different contribution amounts. If you successfully reach your crowdfunding goal, you also have the option to use Indiegogo’s InDemand to continue raising money and build your backer community after your campaign ends. Any campaign which meets its goal by the campaign deadline, and is in good standing with Indiegogo may move into InDemand. If your campaign did not meet its goal by the deadline, it is not eligible for InDemand and your campaign will remain closed. In addition, successful campaigns can offer your backers ‘perks’ that can be objects, acknowledgment, a thank you, services, events, or anything that does not violate Indiegogo’s Terms of Use. How Do You Qualify for Indiegogo Crowdfunding Campaigns? To qualify as an Indiegogo crowdfunding campaign, you must be 18 years of age or older, a legal resident, or have a business entity registered in one of the listed eligible countries. Campaign owners can create campaigns in their own name or on behalf of a registered legal entity with which they are affiliated; have an address and bank account from the country in which you are creating a campaign, and their linked bank account must belong to the person who verified their identity for the campaign. When it comes to the type of campaigns you can campaigns for business use, for nonprofit organizations, campaigns for products, anything within Indiegogo’s community projects, and educational campaigns in the tech and innovation category. What Percentage Does Indiegogo Take? Indiegogo charges a 5% platform fee across all crowdfunding campaigns. If they opted into Indiegogo’s InDemand program and ran their campaign on Indiegogo, their platform fee would remain at 5%. The InDemand fee for campaigns that did not originally run on Indiegogo is an 8% platform fee, with a 15% (total) fee on any funds driven by Indiegogo’s platform channels. In addition, third-party payment processing fees also apply What Is the Minimum Amount You Can Raise from Indiegogo? Indiegogo offers the flexibility to retain all your funds, even if your campaign fails to meet its funding goal, thanks to its flexible campaign feature. However, it’s important to note that the minimum funding goal for a campaign on Indiegogo is $500. How to Start an Indiegogo Campaign You can use Indiegogo to raise money to launch projects below is a step-by-step guide to launching your very own crowdfunding through IndieGoGo: 1. Register for an account: To get started, you must first sign up for an account on IndieGoGo. You can do this by entering your name and email address, or you can create an account using your Facebook credentials. 2. Choose your campaign: Select ‘My Campaigns’ from the drop-down menu. Here you can locate the campaign you’d like to launch and click “Edit Campaign” from the ‘Actions’ Drop-Down menu. You’ll be taken to your Campaign Editor to tweak the offerings of your campaign. Once you have signed up click to start a campaign. When you’re starting a campaign on IndieGoGo you can raise money for a for-profit enterprise (business or project) or for a nonprofit. Make sure your campaign abides by Indiegogo’s camping rules. 3. Spruce up your campaign: You can make your fundraising more enticing by adding graphic and video components to grab attention and also using relevant keywords so your page will come up in online searches. 4. Select the funding type that aligns with your objectives: Indiegogo provides two funding options: flexible and fixed. With fixed funding, you will only receive the funds if you achieve your specified goal. In contrast, flexible funding permits you to retain any amount you raise, regardless of whether you meet your goal. 5. Fill in financial details: select the country where the bank account and the business/nonprofit are located. 6. Set a timeline for your campaign: You will need to choose a start and an end date for your campaign. 7. Launch and offer appealing rewards: Before you launch your campaign, you can offer rewards to backers as a way of thanking your supporters. 8. Use social media to promote your campaign: You can link your social media account to your campaign to add more buzz and interest to your campaign. Maximizing Your Indiegogo Campaign’s Impact Achieving success on Indiegogo involves more than simply launching a campaign. Below are some effective strategies to enhance the effectiveness of your Indiegogo campaign and improve your likelihood of meeting your funding objectives: Compelling Storytelling: Craft a compelling and engaging narrative that resonates with your target audience. Share your passion, the problem you’re solving, and the impact your project will have. High-Quality Visuals: Invest in high-quality images, videos, and graphics that showcase your product, project, or idea. Visuals help captivate potential backers and communicate your message effectively. Clear and Concise Messaging: Clearly communicate your campaign’s purpose, benefits, and unique selling points. Keep your messaging concise, avoiding jargon or complex language. Engage Your Network: Leverage your existing network of friends, family, colleagues, and social media connections. Their early support and word-of-mouth referrals can kickstart your campaign. Regular Updates: Keep your backers informed with regular updates about your campaign’s progress. Updates create a sense of transparency and involvement, fostering trust. Early Bird Rewards: Offer special rewards or discounts to early backers to incentivize them to support your campaign in its initial stages. Tiered Rewards: Create a range of rewards at different price points to cater to backers with varying budgets. Ensure that each tier offers unique value to encourage higher contributions. Social Media Engagement: Actively engage with your audience on social media platforms. Respond to comments, answer questions, and share behind-the-scenes glimpses to keep backers engaged. Influencer Partnerships: Collaborate with influencers or individuals who align with your campaign’s theme. Their endorsement can significantly boost your campaign’s visibility. Email Marketing: Build an email list of interested parties before launching your campaign. Send out personalized emails to inform them about your Indiegogo campaign’s launch. Limited-Time Offers: Create a sense of urgency by offering limited-time rewards or discounts. This can prompt backers to pledge sooner rather than later. Utilize Indiegogo Resources: Take advantage of Indiegogo’s resources, including campaign guides, webinars, and marketing tools. These resources can provide valuable insights and tips. StrategyDescription Compelling StorytellingCraft a compelling and engaging narrative that resonates with your target audience. High-Quality VisualsInvest in high-quality images, videos, and graphics that showcase your product or project effectively. Clear and Concise MessagingCommunicate your campaign's purpose, benefits, and unique selling points clearly and concisely. Engage Your NetworkLeverage your existing network for early support and word-of-mouth referrals to kickstart your campaign. Regular UpdatesKeep backers informed with regular progress updates to foster trust and transparency in your campaign. Early Bird RewardsIncentivize early support by offering special rewards or discounts to backers who contribute in the beginning. Tiered RewardsCreate a range of rewards at different price points to cater to backers with varying budgets. Social Media EngagementActively engage with your audience on social media, responding to comments and sharing behind-the-scenes content. Influencer PartnershipsCollaborate with influencers to boost visibility by gaining their endorsement and leveraging their audience. Email MarketingBuild an email list before launching and send personalized emails to inform potential backers about your campaign. Limited-Time OffersCreate urgency by offering limited-time rewards, encouraging backers to pledge sooner rather than later. Utilize Indiegogo ResourcesMake use of Indiegogo's campaign guides, webinars, and marketing tools for valuable insights and tips. By implementing these strategies, you can enhance the overall effectiveness of your Indiegogo campaign and create a stronger connection with your backers, ultimately leading to a more successful crowdfunding experience. How Can You Boost Your Indiegogo Campaign on Social Media? To effectively boost your Indiegogo campaign on social media, consider implementing the following strategies: Create Shareable Content: Design content that is easy for your followers to share with their networks. This could include eye-catching graphics, compelling videos, and posts that highlight the unique aspects of your project. Utilize Hashtags: Add relevant hashtags to enhance the visibility of your posts. Investigate trending hashtags in your industry and develop a distinctive hashtag specifically for your campaign. Engage with Your Community: Regularly engage with your followers by responding to comments, thanking them for sharing, and participating in relevant conversations. Building a community around your campaign can lead to more shares and donations. Collaborate with Influencers: Partner with social media influencers who resonate with your project’s mission. Their endorsement can introduce your campaign to a wider audience. Run Social Media Ads: Invest in targeted social media advertising to reach a broader audience. Platforms like Facebook and Instagram offer powerful targeting options to ensure your campaign is seen by those most likely to support it. Schedule Regular Updates: Use social media to provide regular updates about your campaign’s progress. Share both the successes and the challenges to keep your audience invested in your journey. Host Live Q&A Sessions: Organize live sessions on platforms like Instagram, Facebook, or Twitter to answer questions, provide updates, and connect with your audience in real time. By carefully crafting your campaign and strategically leveraging social media, you can significantly enhance the visibility and success of your Indiegogo campaign. Which Is Better, Kickstarter Vs. Indiegogo? Though both are popular crowdfunding platforms Kickstarter sways more toward sharing creative or serviceable products and media while Indiegogo offers backers a broader collection of projects, including tech and design, health and fitness, education, and accessories. Indiegogo: A Dynamic and Accessible Platform for Small Businesses In conclusion, Indiegogo presents a dynamic and accessible platform for small businesses, startups, and entrepreneurs seeking alternative funding avenues for their projects. By offering a straightforward, risk-free approach to crowdfunding, Indiegogo enables creators to bring their innovative ideas to life without the complexities of traditional financing methods. The platform not only helps in raising essential funds but also offers a significant opportunity for validating ideas, building a community, and engaging directly with potential customers and supporters. As the crowdfunding landscape continues to evolve, platforms like Indiegogo serve as vital catalysts for innovation and entrepreneurship, offering a testament to the power of community support in driving forward the next generation of products, services, and social initiatives. Whether you’re a fledgling startup or an established small business, Indiegogo provides the tools and reach necessary to achieve your fundraising goals and make a lasting impact. Image: Envato This article, "What is Indiegogo?" was first published on Small Business Trends View the full article

Indiegogo is a crowdfunding platform that enables users to gather funds for an idea, a start-up business, or a charitable cause. This method of fundraising is particularly beneficial for small businesses seeking additional financial support to grow, purchase equipment, or develop a new product concept. Unlike traditional funding, Indiegogo is risk-free compared to seeking bank loans and circumvents application and approval stages. Indiegogo has helped bring more than 800,000 innovative ideas to life thanks to its more than 9 million strong backers, representing 235 countries and territories. The popular crowdfunding platform has some fifteen million people visiting the site each month. Find out everything you need to know about Indiegogo here. What Is Indiegogo? Indiegogo is a crowdfunding platform that allows users to finance and launch their startups, campaigns, products, and services. Users of the Indiegogo platform can create a campaign page to share their story, present their project to potential backers, and then begin raising funds by soliciting donations from these potential supporters. It comes with data-driven insights that can help you tweak your proposal for effective campaigns. For its service Indiegogo charges a 5% platform fee on all funds raised for your campaign. The fees are calculated and deducted from the funds you actually raise and not for the financing goal you set. Benefits of Indiegogo for Small Business Crowdfunding Crowdfunding through Indiegogo is not simply a way to raise money to finance a new product or venture it comes with other benefits as well, these include: It is quick and versatile: crowdfunding can raise funds very quickly and also reach a lot of people through marketing campaigns. Easy to run: You can easily put together a crowdfunding marketing campaign more easily and quickly than pitching to larger investors. Most people who invest in crowdfunding campaigns do so without requiring extensive background information because they tend to be investing a relatively small amount of money. Access to relatively easy money: Crowdfunding platforms such as Indiegogo allow you to raise funds for your projects or business without having to give up an equity stake or provide collateral for a loan. The funds are received as free donations. The ability to validate your idea, product, project, or startup: crowdfunding platforms can be a great way to get feedback on new products and on whether people would purchase your product or service. It can let you see if people are interested in your products, what problems they want to be addressed, and more. Create a community around your product or service: They also offer an opportunity to get feedback on improving your product or service while helping to create a community to raise your profile and build bonds with fans and supporters. In addition, investors can track your progress helping you to promote your brand through their networks. Building communities around your product or service can also help you determine to add more features, add tweaks or incorporate other features. How Does an Indiegogo Crowdfunding Campaign Work? Indiegogo offers entrepreneurs the opportunity to find support and financing for their projects. Besides offering you an opportunity to raise funds Indiegogo also offers perks to say thanks to backers, in exchange for different contribution amounts. If you successfully reach your crowdfunding goal, you also have the option to use Indiegogo’s InDemand to continue raising money and build your backer community after your campaign ends. Any campaign which meets its goal by the campaign deadline, and is in good standing with Indiegogo may move into InDemand. If your campaign did not meet its goal by the deadline, it is not eligible for InDemand and your campaign will remain closed. In addition, successful campaigns can offer your backers ‘perks’ that can be objects, acknowledgment, a thank you, services, events, or anything that does not violate Indiegogo’s Terms of Use. How Do You Qualify for Indiegogo Crowdfunding Campaigns? To qualify as an Indiegogo crowdfunding campaign, you must be 18 years of age or older, a legal resident, or have a business entity registered in one of the listed eligible countries. Campaign owners can create campaigns in their own name or on behalf of a registered legal entity with which they are affiliated; have an address and bank account from the country in which you are creating a campaign, and their linked bank account must belong to the person who verified their identity for the campaign. When it comes to the type of campaigns you can campaigns for business use, for nonprofit organizations, campaigns for products, anything within Indiegogo’s community projects, and educational campaigns in the tech and innovation category. What Percentage Does Indiegogo Take? Indiegogo charges a 5% platform fee across all crowdfunding campaigns. If they opted into Indiegogo’s InDemand program and ran their campaign on Indiegogo, their platform fee would remain at 5%. The InDemand fee for campaigns that did not originally run on Indiegogo is an 8% platform fee, with a 15% (total) fee on any funds driven by Indiegogo’s platform channels. In addition, third-party payment processing fees also apply What Is the Minimum Amount You Can Raise from Indiegogo? Indiegogo offers the flexibility to retain all your funds, even if your campaign fails to meet its funding goal, thanks to its flexible campaign feature. However, it’s important to note that the minimum funding goal for a campaign on Indiegogo is $500. How to Start an Indiegogo Campaign You can use Indiegogo to raise money to launch projects below is a step-by-step guide to launching your very own crowdfunding through IndieGoGo: 1. Register for an account: To get started, you must first sign up for an account on IndieGoGo. You can do this by entering your name and email address, or you can create an account using your Facebook credentials. 2. Choose your campaign: Select ‘My Campaigns’ from the drop-down menu. Here you can locate the campaign you’d like to launch and click “Edit Campaign” from the ‘Actions’ Drop-Down menu. You’ll be taken to your Campaign Editor to tweak the offerings of your campaign. Once you have signed up click to start a campaign. When you’re starting a campaign on IndieGoGo you can raise money for a for-profit enterprise (business or project) or for a nonprofit. Make sure your campaign abides by Indiegogo’s camping rules. 3. Spruce up your campaign: You can make your fundraising more enticing by adding graphic and video components to grab attention and also using relevant keywords so your page will come up in online searches. 4. Select the funding type that aligns with your objectives: Indiegogo provides two funding options: flexible and fixed. With fixed funding, you will only receive the funds if you achieve your specified goal. In contrast, flexible funding permits you to retain any amount you raise, regardless of whether you meet your goal. 5. Fill in financial details: select the country where the bank account and the business/nonprofit are located. 6. Set a timeline for your campaign: You will need to choose a start and an end date for your campaign. 7. Launch and offer appealing rewards: Before you launch your campaign, you can offer rewards to backers as a way of thanking your supporters. 8. Use social media to promote your campaign: You can link your social media account to your campaign to add more buzz and interest to your campaign. Maximizing Your Indiegogo Campaign’s Impact Achieving success on Indiegogo involves more than simply launching a campaign. Below are some effective strategies to enhance the effectiveness of your Indiegogo campaign and improve your likelihood of meeting your funding objectives: Compelling Storytelling: Craft a compelling and engaging narrative that resonates with your target audience. Share your passion, the problem you’re solving, and the impact your project will have. High-Quality Visuals: Invest in high-quality images, videos, and graphics that showcase your product, project, or idea. Visuals help captivate potential backers and communicate your message effectively. Clear and Concise Messaging: Clearly communicate your campaign’s purpose, benefits, and unique selling points. Keep your messaging concise, avoiding jargon or complex language. Engage Your Network: Leverage your existing network of friends, family, colleagues, and social media connections. Their early support and word-of-mouth referrals can kickstart your campaign. Regular Updates: Keep your backers informed with regular updates about your campaign’s progress. Updates create a sense of transparency and involvement, fostering trust. Early Bird Rewards: Offer special rewards or discounts to early backers to incentivize them to support your campaign in its initial stages. Tiered Rewards: Create a range of rewards at different price points to cater to backers with varying budgets. Ensure that each tier offers unique value to encourage higher contributions. Social Media Engagement: Actively engage with your audience on social media platforms. Respond to comments, answer questions, and share behind-the-scenes glimpses to keep backers engaged. Influencer Partnerships: Collaborate with influencers or individuals who align with your campaign’s theme. Their endorsement can significantly boost your campaign’s visibility. Email Marketing: Build an email list of interested parties before launching your campaign. Send out personalized emails to inform them about your Indiegogo campaign’s launch. Limited-Time Offers: Create a sense of urgency by offering limited-time rewards or discounts. This can prompt backers to pledge sooner rather than later. Utilize Indiegogo Resources: Take advantage of Indiegogo’s resources, including campaign guides, webinars, and marketing tools. These resources can provide valuable insights and tips. StrategyDescription Compelling StorytellingCraft a compelling and engaging narrative that resonates with your target audience. High-Quality VisualsInvest in high-quality images, videos, and graphics that showcase your product or project effectively. Clear and Concise MessagingCommunicate your campaign's purpose, benefits, and unique selling points clearly and concisely. Engage Your NetworkLeverage your existing network for early support and word-of-mouth referrals to kickstart your campaign. Regular UpdatesKeep backers informed with regular progress updates to foster trust and transparency in your campaign. Early Bird RewardsIncentivize early support by offering special rewards or discounts to backers who contribute in the beginning. Tiered RewardsCreate a range of rewards at different price points to cater to backers with varying budgets. Social Media EngagementActively engage with your audience on social media, responding to comments and sharing behind-the-scenes content. Influencer PartnershipsCollaborate with influencers to boost visibility by gaining their endorsement and leveraging their audience. Email MarketingBuild an email list before launching and send personalized emails to inform potential backers about your campaign. Limited-Time OffersCreate urgency by offering limited-time rewards, encouraging backers to pledge sooner rather than later. Utilize Indiegogo ResourcesMake use of Indiegogo's campaign guides, webinars, and marketing tools for valuable insights and tips. By implementing these strategies, you can enhance the overall effectiveness of your Indiegogo campaign and create a stronger connection with your backers, ultimately leading to a more successful crowdfunding experience. How Can You Boost Your Indiegogo Campaign on Social Media? To effectively boost your Indiegogo campaign on social media, consider implementing the following strategies: Create Shareable Content: Design content that is easy for your followers to share with their networks. This could include eye-catching graphics, compelling videos, and posts that highlight the unique aspects of your project. Utilize Hashtags: Add relevant hashtags to enhance the visibility of your posts. Investigate trending hashtags in your industry and develop a distinctive hashtag specifically for your campaign. Engage with Your Community: Regularly engage with your followers by responding to comments, thanking them for sharing, and participating in relevant conversations. Building a community around your campaign can lead to more shares and donations. Collaborate with Influencers: Partner with social media influencers who resonate with your project’s mission. Their endorsement can introduce your campaign to a wider audience. Run Social Media Ads: Invest in targeted social media advertising to reach a broader audience. Platforms like Facebook and Instagram offer powerful targeting options to ensure your campaign is seen by those most likely to support it. Schedule Regular Updates: Use social media to provide regular updates about your campaign’s progress. Share both the successes and the challenges to keep your audience invested in your journey. Host Live Q&A Sessions: Organize live sessions on platforms like Instagram, Facebook, or Twitter to answer questions, provide updates, and connect with your audience in real time. By carefully crafting your campaign and strategically leveraging social media, you can significantly enhance the visibility and success of your Indiegogo campaign. Which Is Better, Kickstarter Vs. Indiegogo? Though both are popular crowdfunding platforms Kickstarter sways more toward sharing creative or serviceable products and media while Indiegogo offers backers a broader collection of projects, including tech and design, health and fitness, education, and accessories. Indiegogo: A Dynamic and Accessible Platform for Small Businesses In conclusion, Indiegogo presents a dynamic and accessible platform for small businesses, startups, and entrepreneurs seeking alternative funding avenues for their projects. By offering a straightforward, risk-free approach to crowdfunding, Indiegogo enables creators to bring their innovative ideas to life without the complexities of traditional financing methods. The platform not only helps in raising essential funds but also offers a significant opportunity for validating ideas, building a community, and engaging directly with potential customers and supporters. As the crowdfunding landscape continues to evolve, platforms like Indiegogo serve as vital catalysts for innovation and entrepreneurship, offering a testament to the power of community support in driving forward the next generation of products, services, and social initiatives. Whether you’re a fledgling startup or an established small business, Indiegogo provides the tools and reach necessary to achieve your fundraising goals and make a lasting impact. Image: Envato This article, "What is Indiegogo?" was first published on Small Business Trends View the full article

Want more housing market stories from Lance Lambert’s ResiClub in your inbox? Subscribe to the ResiClub newsletter. This week, Zillow economists announced that they expect U.S. home prices, as measured by the Zillow Home Value Index, to rise 1.1% between January 2025 and January 2026. That’s a downward revision from their previous 12-month forecast, which had projected a 2.9% increase in U.S. home prices. “Zillow’s latest forecast anticipates home value growth in 2025 to be weaker than previously expected,” wrote Zillow economists on Wednesday. “New listings were higher than expected out of the gate this year, and inventory expectations that were revised higher have put downward pressure on Zillow’s forecast for home value growth.” Not only do Zillow economists predict weak national home price growth this year, but they’re also predicting that U.S. existing home sales remain unchanged from 2023 and 2024 at 4.1 million—which is well below the 5.3 million U.S. existing home sales in pre-pandemic 2019. Zillow economists added that: “As elevated mortgage rates dampen demand for home purchases, many potential buyers are staying renters for longer. Zillow forecasts a 3.7% increase in single-family rents for 2025, while multifamily rents are projected to rise by 3.1%. With apartment construction slowing, the growth rates for single-family and multifamily rents are expected to converge more closely than in recent years.” Among the 300 largest U.S. housing markets, Zillow expects the strongest home price appreciation between January 2025 and January 2026 to occur in these 10 areas. Knoxville, TN: 5.2% Atlantic City, NJ: ​5.1% Torrington, CT: 4.8% Bangor, ME: 4.8% Kingston, NY: 4.7% Pottsville, PA: 4.7% Syracuse, NY: 4.5% Rochester, NY: 4.4% Norwich, CT: 4.4% Vineland, NJ: 4.3% And these are the housing markets where Zillow expects the weakest home price appreciation between January 2025 and January 2026. Lake Charles, LA: -7.3% Houma, LA: -6.4% New Orleans, LA: -5.1% Lafayette, LA: -4.1% Shreveport, LA: -3.9% Odessa, TX: -3.8% Beaumont, TX: -3.6% Chico, CA: -3.1% Midland, TX: -2.8% Alexandria, LA : -2.5% While Zillow expects home prices across most of Florida to rise over the coming year, ResiClub remains skeptical. After all, Florida has experienced a significant increase in active inventory and months of supply over the past year, which could signal potential pricing weakness. Indeed, single-family and condo prices are currently declining in most Florida housing markets. View the full article

Somewhere between 25% and 35% of working Americans are gig workers–either as a supplement to their primary income or as their full-time job. And for many gig economy workers, cash apps and marketplaces offer a simple and convenient way to receive payments. Enter the IRS form 1099-K. Third-party payment apps have to issue a 1099-K form to taxpayers who make more than a certain earnings threshold—a threshold which the IRS significantly lowered for the 2024 tax year. The IRS anticipates that millions of Americans will receive a 1099-K form for the first time this year because of that reduced earnings threshold. If you’ve been wondering why you received a 1099-K form this year, here’s what you need to know. 1099-K history Prior to the introduction of third-party payment apps and online marketplaces, the IRS typically received reporting about your income from either a W-2 form (for traditional employees) or 1099-MISC form (for contractors, freelancers, or other nonstandard employment). The introduction of third-party payment apps like PayPal changed the landscape for taxable income. Even though freelancers who collect payments via third-party apps must claim every penny of income (just as employees must track and claim their tips), taxpayers seriously underreported their income from third-party payment apps when the technology was new. Uncle Sam estimates that taxpayers underreported $450 billion in 2006, which equated to a 17% noncompliance rate. Recognizing that modern problems require modern solutions (or at least a new tax form), the Housing and Economic Recovery Act of 2008 instituted a requirement that banks and credit card merchants report payments to the IRS via the new form 1099-K. The first 1099-K forms were issued in 2012 for the 2011 tax year. Who issues 1099-K forms? There are several different types of organizations, apps, sites, marketplaces, and platforms that may be required to issue a 1099-K form. These may include: Auction sites (such as eBay) Ridesharing platforms (like Uber or Lyft) Crafting marketplaces (such as Etsy) Crowdfunding platforms (like Kickstarter) Freelance marketplaces (like Fiverr) Online marketplaces (such as Craigslist or Facebook Marketplace) Peer-to-peer payment platforms (like Venmo, PayPal, or Cash App) Ticket exchange sites (such as StubHub or TicketSwap) If you have earned money through any of these kinds of platforms, you may receive a 1099-K form this year—if you have taken in more than the minimum earning threshold (see below). The one commonly used app that will not issue 1099-K forms is Zelle. That’s because Zelle directly transfers money from one bank account to another, rather than holding your funds in an account for you, the way PayPal, Venmo, and Cash App do. But just because Zelle will not issue a 1099-K doesn’t mean you’re off the hook for reporting any earned income you receive via Zelle. You will have to report income Zelled to your account on Schedule C of your tax return. 1099-K minimums Until the 2024 tax year, the 1099-K form was only issued to taxpayers with more than 200 transactions on third-party payment apps who earned $20,000 or more in income. This meant only the individuals who were seriously committed to making a living via gig work received a 1099-K form. That is now changing. For the 2024 tax year, if you made $5,000 on a payment app, you will receive a 1099-K, no matter how many transactions you cleared. This means hobbyists and side hustlers are much more likely to receive a 1099-K this year—and the likelihood will keep going up. That’s because the minimum income threshold for the 2025 tax year is $2,500, and it will dip to $600 thereafter—and there is no minimum number of transactions to trigger a 1099-K filing. 2023 Tax Year2024 Tax Year2025 Tax Year2026 Tax Year and BeyondEarnings threshold$20,000$5,000$2,500$600Minimum transaction requirement200NoneNoneNone This means your aunt Esther who has an Etsy storefront that sells five or six risque needlepoint projects per month will be as likely to receive a 1099-K form as a professional eBay seller with thousands of transactions per week. Fixing 1099-K errors Not all transactions on third-party financial apps are taxable. When your sister Venmos you $75 to pay for her half of your mother’s birthday gift, that money is not taxable. But if you receive Venmo payments for your side gig as a photographer, that money is taxable. This means anyone who only has a single payment app for personal and professional payments may see errors on their 1099-K form. To help ensure you’re not charged tax on nontaxable payments from friends and family, the IRS has added a space at the top of the 2024 Schedule 1 form to report any money that was included on your 1099-K in error. The spot on the Schedule 1 form also allows you to report 1099-K money related to personal items you sold at a loss. For example, if you resold courtside basketball tickets for $5,000 and accepted payment via Venmo, that would trigger a 1099-K form. But if you purchased those tickets for $6,000 and sold them at a loss, the $5,000 you received is not taxable. You can include that $5,000 in the new space on the Schedule 1 form, and you will not owe taxes on it. The future of 1099-K filing The IRS wasn’t quite done tinkering with the 1099-K rules when it lowered the earnings threshold and minimum transaction requirement. As of the 2025 tax year, third-party payment apps may request your taxpayer identification number—which for most people is their Social Security number. If a third-party payment platform does not have your valid tax ID number, the platform has to withhold 24% of your payment for taxes. This is similar to how your taxes may be withheld from a traditional paycheck, but it can come as an unpleasant surprise to aunt Esther when she sells the $100 Kirk/Spock needlepoint to an enthusiast and only receives $76. While the withheld amount can be credited to the tax you owe when you file your taxes, or it may be refunded if you do not owe any taxes, many taxpayers will prefer to simply provide their Social Security number to avoid the withholding altogether. File responsibly With more ways to get paid, there are more opportunities to underreport earned income. To combat taxpayer forgetfulness (both genuine and feigned), the IRS introduced the 1099-K form, which requires third-party payment apps to report earnings over a certain dollar amount. As of the 2024 tax year, anyone earning $5,000 or more via payment apps or platforms will receive a 1099-K form. In 2023 and earlier, only taxpayers who earned over $20,000 and had 200 or more transactions got such a form. The minimum earnings threshold will go down to $2,500 for the 2025 tax year, and to $600 thereafter and there is no minimum transaction requirement. Getting more tax forms may feel like a crappy reward for all the hard work you have put into your side gig—but the new 1099-K filing requirements will ultimately make it easier for you to correctly file your taxes. And correct tax filing keeps the auditor away. View the full article

A small business audit doesn’t necessarily mean you’ll be dealing with the Internal Revenue Service. Small business owners can conduct internal audits on an annual basis. Either way, the audit process involves looking at accounting records and tax return numbers. The idea is to make sure your financial data is correct, and that it’s in line with tax laws. What is a Small Business Audit? This process involves reviewing the tax filings and financial records of small businesses to ensure accuracy. Both internal and external auditors examine the accounting books and financial statements. Keep in mind you need to report things like a foreign bank account to the IRS. Why do businesses get audited? The IRS conducts small business audits for a number of different reasons. Here are a few of the common ways a business owner can find themselves in front of an IRS agent. Claiming 100% of business use on a personal vehicle. Claiming too many years of business losses in a row. Rounding off financial information numbers. Other bad financial practices like out-of-whack deductions. A small business with income exceeding the average may receive an audit notice. Nevertheless, the likelihood of facing an IRS office visit due to this is quite low. What are the types of business audits? A small business audit can take several different forms. You’ll need to get your financial statements and receipts together plus loan agreements for each of the following: Internal Audits As the name suggests, an internal audit takes place inside your business. These internal audits are done by individuals or a team. They look at financial statements, policy compliance, and operational concerns to name a few areas. Tax Audits This is an IRS audit. A tax professional will look at a tax return to make sure it is accurate. An IRS auditor will look at companies’ financial records. These types of small business audits don’t always indicate wrongdoing. An IRS audit like this is selected based on several markers. Payroll Audits Payroll audits delve into a company’s payroll processes to ensure accuracy, consistency, and compliance with relevant laws and regulations. These audits are essential for confirming that employees are properly classified and compensated with the correct wages for their roles and hours worked and that all necessary taxes and benefits are accurately deducted and remitted. Conducted by human resources professionals or external consultants, payroll audits can also uncover inefficiencies or vulnerabilities in the payroll process. Forensic Audits Forensic audits are specialized examinations that scrutinize financial information for evidence that can be used in court, particularly in cases of suspected fraud, embezzlement, or other financial irregularities. Unlike standard audits that evaluate financial statement accuracy, forensic audits dig deeper. They involve investigative techniques to uncover hidden assets, illicit transactions, and fraudulent financial reporting. Forensic auditors often collaborate with legal teams and can be pivotal in civil or criminal proceedings. Financial Audits These focus on the financial records of a small business. Specific documents highlighting assets, investments, revenue, and expenses are used. It won’t hurt to know the 1099 rules to make sure you file any additional income. Correspondence Audit These are IRS audits that are conducted by phone or mail. They are looking for additional tax information about a specific issue or item. It’s one of the least severe types of tax audits. Correspondence audits are quite often pointed at nonprofits and charities. Field Audit This is another type of IRS audit. These can be conducted at your accountant’s office, your business, or even your home. Field audits are in-depth and comprehensive. Types of Business Audit Summary Type of AuditDescription Internal AuditsConducted internally to review financial statements, policies, and operations. Tax AuditsThe IRS reviews tax returns and financial records for accuracy. Payroll AuditsExamines payroll processes to ensure legal compliance and accuracy. Forensic AuditsIn-depth investigations used in court, often related to fraud. Financial AuditsFocuses on the business's financial records and transactions. Correspondence AuditThe IRS seeks specific tax information via phone or mail. Field AuditComprehensive IRS audit conducted at a business or taxpayer's location. What is included in a business audit? Whether you are looking at an IRS audit, an internal audit, or another type from a tax professional, you’ll need to know the records that will be required. The following can help make the whole thing a smooth process. This is just a partial list of some of the financial documents you might need to present. Documents Detailing Theft or Losses If there is damage to an enterprise, an IRS audit might ask for photographs. You need copies of police reports if there is no insurance. Bills These types of business expenses include organizational and individual names of the people who got paid. An external audit will also want to see the dates you paid them. Plus the type of service. Receipts IRS audits will want to see how these relate to your business. The audit process takes into account the money paid and received. Plus, mileage under some circumstances. Loan Agreements An audit will want to see a copy of the original loan with the location of the property. The amount borrowed and the terms should also be included. Make sure to include a breakdown of how the money was used for an external auditor. Tickets Independent contractors can put these on an audit report. They need to be labeled with the business purpose for the trip. Organizing these records will help to speed up any kind of audit. Benefits of a Business Audit Business audits serve a number of useful purposes. Some companies need to look through financial statements to abide by regulations. Others need to have an accounting firm go through financial records to maintain efficiency. Here are some good reasons why most audits are beneficial. Uncover Fraud: An auditor checks for different types of fraud. Rooting this out is important for sole proprietorship and/or public companies. It’s also a good way to uncover employee theft. Risk factors include having several employees involved in the scheme. Boost Efficiency: Regular audits can highlight redundant procedures and practices. The audit process can come up with recommendations on how to streamline and improve processes. Audits Provide Compliance: There are statutory obligations in every industry. Small businesses facing noncompliance issues can lose customers and incur heavy fines. Audit reports are important to match up compliance with statutory obligations. A statistical formula to calculate a sample size is a good place to start. Audits Provide Better Budgets: An external audit can go over business tax returns, personal tax returns, and bank statements. Even an internal audit can help business owners with a better budget. Liabilities, assets, expenditures, and different types of income are all included. The audit process can help highlight where a business’s finances can be improved. A better budget naturally follows. Audits Can Help A Small Business Get Funded. Business owners are usually thinking about growth. External audits can help your business get investors or banks to supply funding. A line of credit can help take your business operations to the next level. Audits Highlight Bad Practices. These can help your business find internal controls and auditing practices that need to be changed. Tweaking any problems makes tax time less complicated. How to Prepare for a Business Audit There are a few other things that you will need to do to prepare for an audit. You can’t avoid one of these completely. However, there are a few things you can do to get ready. StepRecommendation 1. Accurate Record KeepingEnsure all financial and business records are precise and up-to-date. Electronic files are often acceptable, but always keep backup copies. 2. Organized PaperworkEven if an expense is valid, lacking the necessary paperwork can result in its rejection. Always have all documents readily accessible. 3. Addressing Tax MattersA tax-related audit becomes significantly more severe if your records aren't maintained properly. Ensure all tax matters are documented and recorded accurately. 4. ConsultationIf there are uncertainties, errors in deductions, or missed income, it's advisable to consult with a tax attorney. They can provide guidance and assist in navigating the audit. Remember that various types of audits exist. If you receive a notice from an IRS manager requesting to examine your books, here’s what you should do. IRS Business Audit Process These types of audits don’t need to be stressful. This type of audit will check your business information to be sure it is accurate. The IRS can choose your business randomly or through related examinations. These happen when your business has been involved with someone who has been through an audit. Other triggers include excessive expenses and misclassification of employees. The process starts with a letter describing the documents and records they need. These records get examined by IRS agents. There’s a closing conference and examination report on the phone. The IRS will tell you if you owe money, penalties, and interest. They close the case off if you agree with a closing letter. Understanding the Different Levels of Assurance in Auditing Understanding the different levels of assurance in auditing is crucial for businesses to determine the extent of examination needed for their financial statements. The three primary levels are compilation, review, and audit, each offering a varying degree of assurance. Compilation: This is the most basic level of service regarding financial statements. In a compilation, an accountant assembles the financial data provided by the business into a financial statement format. However, no assurance is given about the accuracy or completeness of the information; the accountant does not verify or validate the data. Review: A review involves a more in-depth examination than a compilation but less than an audit. The accountant conducts analytical procedures and makes inquiries to understand the business and its financial elements. The review provides limited assurance that no material modifications are needed for the statements to be in conformity with accounting principles. Audit: An audit provides the highest level of assurance. It includes an examination of the company’s financial statements in accordance with generally accepted auditing standards. This comprehensive process involves testing the underlying records, evaluating internal controls, and confirming with third parties. The auditor provides an opinion on whether the financial statements present a true and fair view of the company’s financial position. Each level serves distinct purposes and provides different levels of assurance to users of the financial statements. Businesses need to evaluate their requirements, the expectations of their stakeholders, and the cost-effectiveness of each level to identify the most suitable type of service. Navigating the Aftermath of an Audit After an audit is completed, navigating its aftermath is essential for any business. The audit report usually contains findings, recommendations, and sometimes, areas of concern that need addressing. The immediate step is to thoroughly review these findings and understand their implications for the business. Responding effectively to the audit findings involves developing an action plan to address any identified weaknesses or risks. This plan should outline specific steps, allocate responsibilities, and set timelines for implementation. In cases of discrepancies or disagreements with the audit findings, it’s important to communicate with the auditors for clarification or further discussion. Implementing the audit recommendations often leads to refining business processes, enhancing internal controls, and sometimes, restructuring certain aspects of the business. It’s a time for reflection and an opportunity to strengthen the business’s operations and financial integrity. Regular monitoring and follow-up on the implementation of these changes are crucial to ensure their effectiveness and to make adjustments as necessary. Moreover, the lessons learned from an audit should not be limited to rectifying issues. They should be integrated into the business’s ongoing practices for continuous improvement. This proactive approach can prevent future issues and contribute to building a more robust and efficient business operation. The Impact of Audits on Business Strategy and Decision-Making Audits can significantly impact a business’s strategy and decision-making processes. The insights gained from an audit provide a clear picture of a business’s financial health, revealing both strengths and areas needing improvement. This information is vital for strategic planning, as it helps business leaders make informed decisions about future investments, growth opportunities, and risk management. The financial transparency achieved through a business audit increases the credibility of a company among investors, lenders, and other stakeholders. This can lead to easier access to capital, more favorable loan terms, and the ability to attract potential investors. Furthermore, audits can reveal inefficiencies and operational problems that may have previously gone unnoticed. By addressing these issues, businesses can achieve cost savings, increase profitability, and enhance operational effectiveness. Additionally, audits promote the maintenance of current and precise financial records, which are essential for making timely and informed decisions. In essence, audits are not just about compliance or financial correctness; they are a tool for strategic business growth and improvement. They provide a foundation for building strategies that are grounded in financial reality and aligned with the company’s long-term objectives. The Role of Technology in Streamlining Audit Processes In today’s business environment, technology is crucial for improving and simplifying audit processes. By incorporating advanced technological tools into auditing, organizations can not only accelerate the process but also enhance its accuracy and efficiency. Automated audit tools and software, leveraging Artificial Intelligence (AI) and data analytics, have revolutionized how audits are conducted. These tools can quickly analyze large volumes of data, identify anomalies or discrepancies, and generate comprehensive reports, reducing the time and effort required for manual analysis. Moreover, technology aids in continuous monitoring and auditing throughout the year. This approach allows for real-time assessment of financial activities, making the audit process more dynamic and responsive to the current state of the business. Technologies like blockchain and cloud computing are also being explored for their potential to offer more secure and transparent audit trails. Another critical aspect is cybersecurity audits, which have become increasingly important due to the heightened risks of cyber threats. These audits evaluate the effectiveness of a company’s cybersecurity measures, ensuring the protection of sensitive financial data. Implementing robust cybersecurity measures and regularly assessing them through audits can save a business from potential breaches and data theft, which can have significant financial and reputational repercussions. In summary, the integration of technology in audit processes not only makes them more efficient but also aligns them with contemporary business practices and risks, particularly in the realm of digital security. What are generally accepted accounting principles? These are standards for corporate and business accounting. The Financial Accounting Standards Board (FASB) uses GAAP as its base for practices and methods. What financial statements are needed for an audit? These audits need to have specific statements included. Those include an income statement, a balance sheet, and a cash flow statement. Who can demand a business audit? An external audit can be requested by a few different entities. Like the IRS, a tax agency or insurance company, and even a third party. Why should you conduct an independent business audit? It’s always a good idea to have another set of eyes look at your numbers. It’s a particularly positive move when looking for investors. The independent audit process boosts your credibility. An independent business audit is a good idea when you’re looking for a loan. And when you’re looking to sell a business. What are your rights during an IRS audit of your business? Knowing what rights a small business has through an IRS audit helps. Here are just a few of the things businesses and taxpayers should be aware of. You have the right to representation. That can include a tax attorney or certified public accountant. You have the right to only pay the amount of tax debt due. You can file a tax appeal within 30 days of receiving a judgment. You also have the right to courteous and professional service from IRS employees. Image: Envato Elements This article, "What is a Business Audit?" was first published on Small Business Trends View the full article

A small business audit doesn’t necessarily mean you’ll be dealing with the Internal Revenue Service. Small business owners can conduct internal audits on an annual basis. Either way, the audit process involves looking at accounting records and tax return numbers. The idea is to make sure your financial data is correct, and that it’s in line with tax laws. What is a Small Business Audit? This process involves reviewing the tax filings and financial records of small businesses to ensure accuracy. Both internal and external auditors examine the accounting books and financial statements. Keep in mind you need to report things like a foreign bank account to the IRS. Why do businesses get audited? The IRS conducts small business audits for a number of different reasons. Here are a few of the common ways a business owner can find themselves in front of an IRS agent. Claiming 100% of business use on a personal vehicle. Claiming too many years of business losses in a row. Rounding off financial information numbers. Other bad financial practices like out-of-whack deductions. A small business with income exceeding the average may receive an audit notice. Nevertheless, the likelihood of facing an IRS office visit due to this is quite low. What are the types of business audits? A small business audit can take several different forms. You’ll need to get your financial statements and receipts together plus loan agreements for each of the following: Internal Audits As the name suggests, an internal audit takes place inside your business. These internal audits are done by individuals or a team. They look at financial statements, policy compliance, and operational concerns to name a few areas. Tax Audits This is an IRS audit. A tax professional will look at a tax return to make sure it is accurate. An IRS auditor will look at companies’ financial records. These types of small business audits don’t always indicate wrongdoing. An IRS audit like this is selected based on several markers. Payroll Audits Payroll audits delve into a company’s payroll processes to ensure accuracy, consistency, and compliance with relevant laws and regulations. These audits are essential for confirming that employees are properly classified and compensated with the correct wages for their roles and hours worked and that all necessary taxes and benefits are accurately deducted and remitted. Conducted by human resources professionals or external consultants, payroll audits can also uncover inefficiencies or vulnerabilities in the payroll process. Forensic Audits Forensic audits are specialized examinations that scrutinize financial information for evidence that can be used in court, particularly in cases of suspected fraud, embezzlement, or other financial irregularities. Unlike standard audits that evaluate financial statement accuracy, forensic audits dig deeper. They involve investigative techniques to uncover hidden assets, illicit transactions, and fraudulent financial reporting. Forensic auditors often collaborate with legal teams and can be pivotal in civil or criminal proceedings. Financial Audits These focus on the financial records of a small business. Specific documents highlighting assets, investments, revenue, and expenses are used. It won’t hurt to know the 1099 rules to make sure you file any additional income. Correspondence Audit These are IRS audits that are conducted by phone or mail. They are looking for additional tax information about a specific issue or item. It’s one of the least severe types of tax audits. Correspondence audits are quite often pointed at nonprofits and charities. Field Audit This is another type of IRS audit. These can be conducted at your accountant’s office, your business, or even your home. Field audits are in-depth and comprehensive. Types of Business Audit Summary Type of AuditDescription Internal AuditsConducted internally to review financial statements, policies, and operations. Tax AuditsThe IRS reviews tax returns and financial records for accuracy. Payroll AuditsExamines payroll processes to ensure legal compliance and accuracy. Forensic AuditsIn-depth investigations used in court, often related to fraud. Financial AuditsFocuses on the business's financial records and transactions. Correspondence AuditThe IRS seeks specific tax information via phone or mail. Field AuditComprehensive IRS audit conducted at a business or taxpayer's location. What is included in a business audit? Whether you are looking at an IRS audit, an internal audit, or another type from a tax professional, you’ll need to know the records that will be required. The following can help make the whole thing a smooth process. This is just a partial list of some of the financial documents you might need to present. Documents Detailing Theft or Losses If there is damage to an enterprise, an IRS audit might ask for photographs. You need copies of police reports if there is no insurance. Bills These types of business expenses include organizational and individual names of the people who got paid. An external audit will also want to see the dates you paid them. Plus the type of service. Receipts IRS audits will want to see how these relate to your business. The audit process takes into account the money paid and received. Plus, mileage under some circumstances. Loan Agreements An audit will want to see a copy of the original loan with the location of the property. The amount borrowed and the terms should also be included. Make sure to include a breakdown of how the money was used for an external auditor. Tickets Independent contractors can put these on an audit report. They need to be labeled with the business purpose for the trip. Organizing these records will help to speed up any kind of audit. Benefits of a Business Audit Business audits serve a number of useful purposes. Some companies need to look through financial statements to abide by regulations. Others need to have an accounting firm go through financial records to maintain efficiency. Here are some good reasons why most audits are beneficial. Uncover Fraud: An auditor checks for different types of fraud. Rooting this out is important for sole proprietorship and/or public companies. It’s also a good way to uncover employee theft. Risk factors include having several employees involved in the scheme. Boost Efficiency: Regular audits can highlight redundant procedures and practices. The audit process can come up with recommendations on how to streamline and improve processes. Audits Provide Compliance: There are statutory obligations in every industry. Small businesses facing noncompliance issues can lose customers and incur heavy fines. Audit reports are important to match up compliance with statutory obligations. A statistical formula to calculate a sample size is a good place to start. Audits Provide Better Budgets: An external audit can go over business tax returns, personal tax returns, and bank statements. Even an internal audit can help business owners with a better budget. Liabilities, assets, expenditures, and different types of income are all included. The audit process can help highlight where a business’s finances can be improved. A better budget naturally follows. Audits Can Help A Small Business Get Funded. Business owners are usually thinking about growth. External audits can help your business get investors or banks to supply funding. A line of credit can help take your business operations to the next level. Audits Highlight Bad Practices. These can help your business find internal controls and auditing practices that need to be changed. Tweaking any problems makes tax time less complicated. How to Prepare for a Business Audit There are a few other things that you will need to do to prepare for an audit. You can’t avoid one of these completely. However, there are a few things you can do to get ready. StepRecommendation 1. Accurate Record KeepingEnsure all financial and business records are precise and up-to-date. Electronic files are often acceptable, but always keep backup copies. 2. Organized PaperworkEven if an expense is valid, lacking the necessary paperwork can result in its rejection. Always have all documents readily accessible. 3. Addressing Tax MattersA tax-related audit becomes significantly more severe if your records aren't maintained properly. Ensure all tax matters are documented and recorded accurately. 4. ConsultationIf there are uncertainties, errors in deductions, or missed income, it's advisable to consult with a tax attorney. They can provide guidance and assist in navigating the audit. Remember that various types of audits exist. If you receive a notice from an IRS manager requesting to examine your books, here’s what you should do. IRS Business Audit Process These types of audits don’t need to be stressful. This type of audit will check your business information to be sure it is accurate. The IRS can choose your business randomly or through related examinations. These happen when your business has been involved with someone who has been through an audit. Other triggers include excessive expenses and misclassification of employees. The process starts with a letter describing the documents and records they need. These records get examined by IRS agents. There’s a closing conference and examination report on the phone. The IRS will tell you if you owe money, penalties, and interest. They close the case off if you agree with a closing letter. Understanding the Different Levels of Assurance in Auditing Understanding the different levels of assurance in auditing is crucial for businesses to determine the extent of examination needed for their financial statements. The three primary levels are compilation, review, and audit, each offering a varying degree of assurance. Compilation: This is the most basic level of service regarding financial statements. In a compilation, an accountant assembles the financial data provided by the business into a financial statement format. However, no assurance is given about the accuracy or completeness of the information; the accountant does not verify or validate the data. Review: A review involves a more in-depth examination than a compilation but less than an audit. The accountant conducts analytical procedures and makes inquiries to understand the business and its financial elements. The review provides limited assurance that no material modifications are needed for the statements to be in conformity with accounting principles. Audit: An audit provides the highest level of assurance. It includes an examination of the company’s financial statements in accordance with generally accepted auditing standards. This comprehensive process involves testing the underlying records, evaluating internal controls, and confirming with third parties. The auditor provides an opinion on whether the financial statements present a true and fair view of the company’s financial position. Each level serves distinct purposes and provides different levels of assurance to users of the financial statements. Businesses need to evaluate their requirements, the expectations of their stakeholders, and the cost-effectiveness of each level to identify the most suitable type of service. Navigating the Aftermath of an Audit After an audit is completed, navigating its aftermath is essential for any business. The audit report usually contains findings, recommendations, and sometimes, areas of concern that need addressing. The immediate step is to thoroughly review these findings and understand their implications for the business. Responding effectively to the audit findings involves developing an action plan to address any identified weaknesses or risks. This plan should outline specific steps, allocate responsibilities, and set timelines for implementation. In cases of discrepancies or disagreements with the audit findings, it’s important to communicate with the auditors for clarification or further discussion. Implementing the audit recommendations often leads to refining business processes, enhancing internal controls, and sometimes, restructuring certain aspects of the business. It’s a time for reflection and an opportunity to strengthen the business’s operations and financial integrity. Regular monitoring and follow-up on the implementation of these changes are crucial to ensure their effectiveness and to make adjustments as necessary. Moreover, the lessons learned from an audit should not be limited to rectifying issues. They should be integrated into the business’s ongoing practices for continuous improvement. This proactive approach can prevent future issues and contribute to building a more robust and efficient business operation. The Impact of Audits on Business Strategy and Decision-Making Audits can significantly impact a business’s strategy and decision-making processes. The insights gained from an audit provide a clear picture of a business’s financial health, revealing both strengths and areas needing improvement. This information is vital for strategic planning, as it helps business leaders make informed decisions about future investments, growth opportunities, and risk management. The financial transparency achieved through a business audit increases the credibility of a company among investors, lenders, and other stakeholders. This can lead to easier access to capital, more favorable loan terms, and the ability to attract potential investors. Furthermore, audits can reveal inefficiencies and operational problems that may have previously gone unnoticed. By addressing these issues, businesses can achieve cost savings, increase profitability, and enhance operational effectiveness. Additionally, audits promote the maintenance of current and precise financial records, which are essential for making timely and informed decisions. In essence, audits are not just about compliance or financial correctness; they are a tool for strategic business growth and improvement. They provide a foundation for building strategies that are grounded in financial reality and aligned with the company’s long-term objectives. The Role of Technology in Streamlining Audit Processes In today’s business environment, technology is crucial for improving and simplifying audit processes. By incorporating advanced technological tools into auditing, organizations can not only accelerate the process but also enhance its accuracy and efficiency. Automated audit tools and software, leveraging Artificial Intelligence (AI) and data analytics, have revolutionized how audits are conducted. These tools can quickly analyze large volumes of data, identify anomalies or discrepancies, and generate comprehensive reports, reducing the time and effort required for manual analysis. Moreover, technology aids in continuous monitoring and auditing throughout the year. This approach allows for real-time assessment of financial activities, making the audit process more dynamic and responsive to the current state of the business. Technologies like blockchain and cloud computing are also being explored for their potential to offer more secure and transparent audit trails. Another critical aspect is cybersecurity audits, which have become increasingly important due to the heightened risks of cyber threats. These audits evaluate the effectiveness of a company’s cybersecurity measures, ensuring the protection of sensitive financial data. Implementing robust cybersecurity measures and regularly assessing them through audits can save a business from potential breaches and data theft, which can have significant financial and reputational repercussions. In summary, the integration of technology in audit processes not only makes them more efficient but also aligns them with contemporary business practices and risks, particularly in the realm of digital security. What are generally accepted accounting principles? These are standards for corporate and business accounting. The Financial Accounting Standards Board (FASB) uses GAAP as its base for practices and methods. What financial statements are needed for an audit? These audits need to have specific statements included. Those include an income statement, a balance sheet, and a cash flow statement. Who can demand a business audit? An external audit can be requested by a few different entities. Like the IRS, a tax agency or insurance company, and even a third party. Why should you conduct an independent business audit? It’s always a good idea to have another set of eyes look at your numbers. It’s a particularly positive move when looking for investors. The independent audit process boosts your credibility. An independent business audit is a good idea when you’re looking for a loan. And when you’re looking to sell a business. What are your rights during an IRS audit of your business? Knowing what rights a small business has through an IRS audit helps. Here are just a few of the things businesses and taxpayers should be aware of. You have the right to representation. That can include a tax attorney or certified public accountant. You have the right to only pay the amount of tax debt due. You can file a tax appeal within 30 days of receiving a judgment. You also have the right to courteous and professional service from IRS employees. Image: Envato Elements This article, "What is a Business Audit?" was first published on Small Business Trends View the full article

While Valentine’s Day and football get the majority of publicity during February, there’s more to this month than love and sports. You may want to consider changing up your typical happy-hour order this weekend to celebrate an unconventional holiday. Saturday, February 22, is National Margarita Day. This refreshing beverage has a long history of making those who imbibe forget their troubles for a while. Let’s take a look at the invention of the drink and some fun deals to take advantage of. What’s in a classic margarita anyway? While many variations of the beloved drink have popped up over the years, in its purest form, a margarita is comprised of tequila, lime juice, and Cointreau or Triple Sec. Traditionally served in a glass with a salted rim, its sweet, salty, and sour elements make for a delicious flavor combination to sip on. Who invented the margarita? There are conflicting stories about the creation of this cocktail. One version credits Carlos “Danny” Herrera. Necessity was the mother of invention in this version. In the late 1940s, Herrera, who owned the Tijuana, Mexico-area restaurant Rancho La Gloria, wanted to make something for customer Marjorie King. The young actress was allergic to all alcohol except tequila but didn’t like to drink the spirit straight. Never one to back down from a challenge, Herrera started experimenting and landed on the flavor combination we now know and love. He called the drink a Margarita (Spanish for Marjorie). Another story asserts that Margarita Sames is the real hero. This Dallas socialite claims to have created the drink while entertaining at her Acapulco vacation home in 1948. As this story goes, Tommy Hilton was one of her guests and liked it so much that he brought the drink to his hotels. But her claim is discredited in Anthony Dias Blue’s The Complete Book of Spirits, which states that the first importer of Jose Cuervo to the United States used the tagline, “Margarita: it’s more than a girl’s name,” in 1945. What are some deals for National Margarita Day? Chili’s Grill & Bar and Lifetime have teamed up for the big day. They released a 15-minute romantic comedy film starring Maria Menounos and Taye Diggs about a powerful big-city lawyer who comes back to her rural hometown for the holiday. You can stream it here, then head into the restaurant for $5 Tequila Trifectas at participating restaurants or a StrawEddy, the Margarita of the Month. If you find yourself in California, head to your local El Torito on Saturday. Participating restaurants in this Mexican chain are offering $10 Margarita Flights. Variety is the spice of life after all. Those in Atlanta can head to one of three Tin Lizzy Cantina locations. They are offering $6 House Margaritas and $8 Casa Noble Margaritas. TexMex chain Chuy’s is also offering drink specials. Finally, the New York Daily News has a roundup of Margarita Day deals in and around the Big Apple. However you celebrate the boozy holiday, make sure to say Salud! View the full article

The relentless hype around AI makes it difficult to separate the signal from the noise. So it’s understandable if you’ve tuned out recent talk about autonomous AI agents. A word of advice: Don’t. The significance of agentic AI may actually exceed the hype. An Autonomous AI agent can interact with the environment, make decisions, take action, and learn from the process. This represents a seismic shift in the use of AI and, accordingly, presents corresponding opportunities—and risks. The P in GPT To date, generative AI tools, largely subject to human supervision, have been designed to function by being pretrained (the P in GPT) on vast amounts of data such as large language models (LLMs) or other defined data sources and then to provide responses to inputs or prompts (a question or instruction) provided by users. This has proven to be an impressive way to come up with humanlike responses to queries or prompts—like a baby imitating sounds or words without really knowing what it is saying. Kind of adorable, but unlikely to conjure Newton’s Principia or a Beethoven symphony. So, are these generative tools really functioning as creative, independent beings? Doubtful. But that may be changing dramatically. A new approach allows AI to interact directly and more autonomously with data and react in a dynamic way—a lot more like what humans do. This technology relies on autonomous AI agents, which Bill Gates believes are going to upend the software industry, bringing about the biggest revolution in computing since we went from typing commands to tapping on icons. And that may be an understatement. AI Agents AI agents are designed to make decisions without human intervention to perform predefined (for now) tasks. They can reach into the outside world, find data they hadn’t previously encountered, analyze it, then take action—far more like human interaction with the environment and less like relying on the fixed data universe of a chess program or a chatbot and an LLM that cannot go beyond its pretrained knowledge. Sounds great. What could possibly go wrong? This is a major step forward, replacing a clever statistical approach to replicating human expression with something capable of taking in previously unknown outside stimuli, processing it, and taking action without having to be pretrained or retrained. We are removing our intermediate role creating and governing AI’s conceptual and decision-making universe. That’s both the point and the problem. It’s fair to say the AI baby is not just on its way to taking a few steps; it could be speeding down the highway in your new car, music blaring, swigging a bottle of tequila. The upside is clear. Less need for specific training and oversight. Scalability is only limited by compute resources. You can remove the human intermediary and send out agents to go and complete vast amounts of tasks on their own. After all, they are agents, they have agency—the ability to make decisions and choices. And mistakes. What could possibly go wrong? As software rather than a human actor, AI agent mistakes can be instantly and almost infinitely compounded, replicated, and cascaded. It is also a target for hackers. There are obvious doomsday scenarios like a rogue AI agent improperly triggering a massive wave of securities trading or unintentionally launching a military retaliation. When it comes to decisions with potentially catastrophic consequences, human oversight is by no means perfect, but most of us feel at least a modicum of comfort knowing there’s an expert human hand hovering over the go button. There are less dramatic yet still highly impactful effects in the legal and compliance sphere that pose significant business risk. More and more companies are using AI-driven tools across the entire employee lifecycle, from selecting candidates to interviewing and hiring and continuing through performance assessment (raises, promotions, and termination). These tools are increasingly deploying AI agents. Providers often tout AI agents as supporting and improving the quality of critical HR decisions. But subtle errors in system design or implementation could lead to unfair outcomes. There’s a name for this phenomenon: algorithmic bias. At the same time, states are adopting laws penalizing both developers and users of such tools if their use results in unfair treatment of employees. And naturally, litigation is likely to follow. Risky Business It is undeniable that AI agents present a significant opportunity to increase productivity by automating routine tasks and freeing people up for more creativity and problem-solving. But the risks are just as undeniable. While jettisoning supervision and oversight may be a necessity with kids at a certain point, the metaphor only goes so far when it comes to the emancipation of AI through autonomous agents. For now, as we gleefully remove the training wheels, we should be mindful of balancing our understandable enthusiasm with reasonable caution to avoid any catastrophic crashes. View the full article

I don’t know about you, but I tend to think about my favorite tech tools as being split into two separate saucepans: the “classic” apps we’ve known and relied on for ages and then the newer “AI” apps that have shown up over the past several months to serve some super-specific purpose. More and more, though, I’m realizing that the most effective apps are the ones that seamlessly blend those two concepts and create a whole new recipe with the best of both worlds. That’s precisely what the tool I’ve got for you today manages to do. It’s a brand new app released just moments ago that’s basically Google Maps combined with ChatGPT, Perplexity, Wikipedia, and more. And goodness gracious, will it bring some fascinating new flavor into your life. Be the first to find all sorts of little-known tech treasures with my free Cool Tools newsletter from The Intelligence. One useful new discovery in your inbox every Wednesday! A modern mapping mashup Let me back up for one quick second: A moment ago, I told you today’s tool is a brand new service. And it is—just released days ago and almost certainly something you haven’t yet seen. But it’s also connected to a standout service we’ve discussed in these quarters before. ➜ The service is called PamPam​, and we talked about it last May and then again in December, when I featured it as one of my favorite finds from 2024. At the time, I described it as ​an AI map app that’s actually worth your while​—and that’s still true today. But now, PamPam is even more useful, thanks to a massive upgrade that introduces a whole new ocean of actually-handy AI possibilities. Specifically, PamPam’s gained some really slick integrations that bring data from ChatGPT, Perplexity, Wikipedia, and other smart sources into its interactive map-exploring experience. So what does that actually look like in practice? Lemme show ya. When you open up the new PamPam app, you’re prompted to describe what exactly you want to do or see. You can type out anything, in plain English and without any complicated formatting requirements. PamPam prompts you to ask anything, with a slew of new sources powering the results. By default, the service will pull info from ChatGPT and Wikipedia into its results. If you click the little pill area with the logos, though, you can also bring other info sources into the mix—including, so far, Perplexity and Foursquare. Wikipedia, ChatGPT, Foursquare, and Perplexity are now a part of the PamPam picture. For one example, I asked the service to suggest stuff to do and places to eat for a day in Pasadena with a family of four—including a seven-year-old and a nine-year-old. In a matter of seconds, it served up all sorts of thoughtful and specific suggestions, with info available in a sidebar and locations visible in a large interactive map. PamPam’s results pull data from all your selected sources into a simple, map-embedded guide. Clicking on any item in the map or the sidebar pulls up more detailed info from Wikipedia, along with more suggestions for subsequent questions from ChatGPT and any other activated sources. You can keep asking more questions from all of your selected sources as you go. Everything happens right then and there, in that same single screen and without any external windows or sign-ins. It’s about as polished and pleasant of an experience as you could ask for, with all sorts of helpful touches pulled from the different sources and presented in a sensible-seeming, streamlined setup. PamPam’s interface is a whole new experience that brings a blend of different info into a single map-centric spot. ⌚ PamPam does require you to sign in with a Google account in order to use the service, but it takes all of seven seconds to do—and you’ll be off to the races and exploring your results in another few seconds from there. The possibilities are practically endless, and best of all? It doesn’t even cost a dime to try. PamPam works entirely on the web​​ in any browser, on any device. It’s completely free to use for these purposes, with evolving limits for the external sources. The site offers ​an optional “Pro” plan​ that raises those limits and unlocks extra features related to some of its other functions. (The company has a variety of corporate plans, too, which seem to be where the bulk of its money is made.) PamPam doesn’t require any personal info beyond your initial Google sign-in, and its privacy policy​​ doesn’t include anything unusual about how it handles the limited amount of data involved. If you love these types of tools as much as I do, check out my free Cool Tools newsletter. I’ll introduce you to an incredible audio app that’ll tune up your days in delightful ways—then send you another new off-the-beaten-path gem every Wednesday! View the full article

Kate Aronowitz tells me she first set out in graphic design because it felt like a discipline that helped her bring order to things. Many years later, she has a love-hate relationship with being labeled “a creative” because the creative process, as she sees it, is not just about art and design—it’s as much about solving problems as it is building things from scratch. She also believes everyone can be creative under the right circumstances. As portfolio operations lead at Google Ventures, Aronowitz has collaborated with some of the world’s most inspiring and hardworking founders. And now she has the opportunity to shape and inspire the next generation of students at Savannah College of Design as the school’s newly minted executive in residence. I usually am the first one up. I go downstairs with my dog, George, make coffee, and we go outside. I like having quiet time outside. I’ll walk him or go to Pilates. I read the news. As much as it pains me, I like to know what’s going on. I’m not naturally an early riser, but if I approach the day with a clear mind, my work is better. I’m a big believer in reading a room. I think it’s more my predisposition. Even when I started my first design role as a junior designer, I often worked as a translator. When you get a design person and a businessperson together, they are often butting heads. I’m always the one saying, “Actually, I hear this.” Listening to what people are saying, watching their body language, seeing how much people speak up—it’s just being a very keen observer. I’m fascinated by people, and UX design is about solving real people’s needs. A lot of the time, they can’t express what they need; you have to listen for it. I don’t create well in total silence. I like a lot of white noise. If I have to write, I prefer to write on an airplane or in a café. Silence is very deafening. I go to sleep listening to podcasts. I find it hard to design and create if I put an hour on the calendar and say, “You’re sitting and doing this thing.” My best ideas come to me if I can get the questions I need to work on a week in advance. I’m good at having that run parallel; I’m processing in the background. Whether I’m at the mall or watching a movie or baking, ideas pop into my head. I find using my hands to be very helpful. Even if it’s business-case kind of stuff. I find it hard to be creative and type at the same time, so I handwrite a lot out. I find typing to be very constricting. I work with really interesting founders. And I see my role as a designer more so now almost setting the stage and curating the conversations that allow creativity to happen. I am helping make founders’ ideas real. A lot of my day is being a really good listener and figuring out what problems need to be solved and figuring out how to do it quickly. I’m an optimist. If you look at a problem long enough, you can truly come up with a solution that will delight people. I don’t believe there’s any problem that’s not solvable. I rarely get frustrated. I trust the process. If you iterate, put the right people in the room, and ask questions, you will learn something and you will move things forward. I’m interested in expanding what creativity means. Creativity has been put in this place where you either are or aren’t, or there’s creative time and there isn’t. It’s thinking about a problem in a different way. Everyone has the ability. I’m so much more open now to who is in the room. I hate when people are labeled creative. When you label a person as “a creative,” it limits it so that this is the only person in the room who can be creative. I’m a big list-maker. I break it into things. I am very strict about what fits onto my first list. I keep a running notes doc. I have a 2024 doc and it’s all the calls I was on that year. At any point in time, I can go back and pick up a thread where I left off. A lot of it for me is documenting and list-making so I don’t have to keep it in my mind. I can go back and check things. I need my alone time. Driving or walking the dog. Time with a whiteboard. If I’m really feeling lost and I’m not sure what to do, if I just put a pen in my hand and draw out what I’m thinking I find it really helpful to just get out what’s in my head. I’m very bad with distractions. I love doing the NYT crossword every day; it’s hard not to be following what’s going on [in the news]. I’m not great at tuning things out, but I have other outlets. I love baking and cooking. I started sketching again on my iPad. I have one of those expert Apple pencils. Even if it’s useless stuff like drawing a weird apple on my iPad, it centers me. If you can sit and noodle over the shades of red for an hour and a half, it’s good for your mind to be a better observer. The rut I find myself in is more like self-doubt. I am a bit of a perfectionist. That is what drew me to graphic design in the first place. I was never attracted to fine art. I liked graphic design because it brought order to things. I hold a high bar for myself and always want to make sure I’m bringing value, so I do question myself. I have to remind myself this is part of the process: Knowing that sometimes things don’t work and that’s okay, and what can you learn from it. You have to get small wins every day. A lot of what we do with founders is help them prioritize. Some problems can be pushed off. Just ask yourself, what’s keeping you up at night now? And how can you solve something immediately in front of you? A lot of it is taking big problems and breaking them down into bite-size chunks. It’s so important to close out the day and feel like you made some small steps in progress. View the full article

Militant group due to release a further four hostages on Saturday as part of exchange for 600 Palestinian prisonersView the full article

As I write this, the most pleasing sound is washing over me—gentle waves ebbing and flowing onto the shore. Sadly, I’m not actually on some magnificent tropical beach. Instead, the sounds of the sea are being generated by my Mac. Yet, more than just being pleasing to the ear, this sound, and others the Mac can generate, have helped boost my focus in recent months when I’m under deadline and trying to get work done. The feature is called “Background Sounds.” Here are some of the benefits I’ve gotten from it and how you can use it, too. The pandemic made me realize background sounds help me focus I know some writers who need absolute silence when they are working. I’ve never been one of those people. I work best when there is low-level noise from something else in the space around me—the rustling of tree branches outside a window or the indistinct murmur of other people in a cafe. I didn’t realize how much I relied on background noise to stay focused until the early days of the pandemic when lockdowns hit. Like many, I was suddenly stuck working from home, cut off from the background noises I had become accustomed to. I tried supplementing the newfound silence with music, but songs and even instrumentals were too distracting. Then, by chance, while browsing YouTube on my TV out of boredom one day, I came across an eight-hour video titled something like “Relaxing Coffee Shop Ambience.” The entire video was just an animated photo of the exterior of a visually appealing coffee house that played in a loop, but was set against a soundtrack of invisible customers murmuring, coffee mugs occasionally clacking, and autumn leaves blowing in the wind. I played it on my television that day and, I swear, I’d never focused so well on work before. Since then, I almost always play background ambience videos while I write. The cafe ones are nice, but natural ones, like rain or ocean scenes, really work for me. They seem to have a dual effect: increasing my focus while boosting my creativity. But playing those videos is not always practical if you go outside the house. At work, you don’t want your boss to think you’re wasting time watching YouTube, and playing an hours-long video on your laptop is a great way to run out of battery halfway through your workday. That’s where the Mac’s “Background Sounds” feature comes in. It doesn’t have the visual distractions or battery drain issues that YouTube ambiance videos do. And while Apple may not be the first company to bring background sounds to the masses (apps like Calm and Headspace are the leaders in the ambient sounds landscape), the big benefit of Apple’s BackGround sounds is that it’s built into macOS, and so is free to use. This is terrific for those with subscription fatigue who don’t want to shell out monthly for yet another software service. How to use Background Sounds on your Mac If you have macOS Ventura or later, you can use the Mac’s Background Sounds capabilities. But first, you need to enable the feature. To do this, open the System Settings app on your Mac, click the Accessibility options, and make sure the “Background sounds” switch is toggled on. Next, go to the Control Center options in the System Settings app and make sure under “Hearing” that “Show in Control Center” is toggled on. Once you’ve done this, you can quickly turn on the background sound of your choice. Here’s how: Click the Control Center icon in the Mac’s menu bar. Click the hearing button (the ear icon). Click Background Sounds. Now click on the background sound you want to play. The background sound you choose will now play in an infinite loop from your Mac’s speakers or through any headphones connected to your Mac. Your options include five natural sounds—ocean, rain, stream, night, and fire—and three more basic white noise sounds—balanced, bright, or dark. If you’re like me, you may soon find that enabling any of these background sounds on your Mac helps you stay focused while working. Is there any science behind the productivity benefits of white noise? I’ve met many people who are like me and say that playing background sounds helps them focus and even makes them feel more creative. But does science actually back this up? It depends. I’ve yet to find a rigorous scientific study that explored whether natural background noises, like rain or a crackling fire, actually have a measurable impact on one’s ability to focus at work. However, a 2022 study from researchers at the University of Southern California looked at the impact of white noise on neurotypical individuals. That study found that white noise played at 45 decibels resulted in “improved cognitive performance in terms of sustained attention, accuracy, and speed” as well as enhanced creativity. And when played at 65 decibels, the white noise “led to improved working memory”—but also higher stress levels. Personally, I can’t imagine working without some calming seaside background noise. It’s no day at the beach—but it’ll sound like it is. View the full article

Here in Atlanta, the Jimmy Carter Presidential Library and Museum has been part of my daily life for years. Parks and trails surrounding the center connect my neighborhood to the Martin Luther King Jr. National Historical Park downtown and everything in between. At the end of December 2024, thousands of people walked to the library to pay their respects to the former president as he lay in repose. The cold, snow and darkness of the evening were a stark contrast to the warmth of the volunteers who welcomed us in. Our visit spiraled through galleries exhibiting records of Carter’s life, achievements and lifelong work promoting democracy around the world. U.S. presidents have been building libraries for more than 100 years, starting with Rutherford B. Hayes. But the urge to shape one’s legacy by building a library runs much deeper. As a scholar of libraries in the Greek and Roman world, I was struck by the similarities between presidential and ancient libraries – some of which were explicitly designed to honor deceased sponsors and played a significant role in their cities. Trajan’s library The Ulpian Library, a great library in the center of Rome, was founded by Emperor Trajan, who ruled around the turn of the second century C.E. Referenced often by ancient authors, it could have been the first such memorial library. Today, someone visiting Rome can visit Trajan’s Column, a roughly 100-foot monument to his military and engineering achievements after conquering Dacia, part of present-day Romania. A frieze spirals from bottom to top of the column, depicting his exploits. The monument now stands on its own. Originally, however, it was nestled in a courtyard between two halls of the Ulpian Library complex. Trajan’s Column now stands at the center of Rome. [Photo: Olivier Giboulot/Unsplash] Most of what scholars know about the library’s architecture comes from remains of the west hall, an elongated room almost 80 feet long, whose walls were lined with rectangular niches and framed by a colonnade. The niches were lined with marble and appear to have had doors; this is where the books would have been placed. Writers from the first few centuries C.E. describe the library having archival documents about the emperor and the empire, including books made of linen and books bound with ivory. Trajan dedicated the column in 113 C.E. but died four years later, before the library was complete. Hadrian, his adoptive son and successor, oversaw the shipment of Trajan’s cremated remains back to Rome, where they were placed in Trajan’s Column. Hadrian completed the surrounding library complex in 128 C.E. and dedicated it with two identical funerary inscriptions to his adopted parents, Trajan and Plotina. Scholars Roberto Egidi and Silvia Orlandi have argued that Trajan’s remains could later have been transferred from the column into the library hall. Memorial model Either way, I would argue that Trajan’s decision to have his remains included in the library complex, instead of in an imperial mausoleum, established a model adopted by other officials at a smaller scale. In the eastern side of the Roman empire – what is now Turkey – at least two other library-mausoleum buildings have been identified. One is the library at Nysa on the Maeander, a Hellenistic city named for the nearby river. Under the floor of its entry porch is a sarcophagus with the remains of a man and a woman, possibly the dedicators, that dates to the second century C.E., the time of Hadrian’s reign. The ruins of the library at Nysa on the Maeander [Photo: Myrsini Mamoli] Another is the Library of Celsus, the most recognizable ancient library today, found in the ancient city of Ephesus. Named after a regional Roman consul and proconsul during the reign of Trajan, the building was founded by Celsus’ son, designed as both a place of learning and a mausoleum. The library’s ornate, sculpted facade contained life-size female statues, making it an immediately recognizable landmark. Inscriptions identify the statues as the personifications of Celsus’ character, elevating him into a role model: virtue, intelligence, knowledge and wisdom. Upon entering the room, the funerary character of the library became quite literal. The hall was designed like the Ulpian Library, but a door gave access to a crypt underneath. This held the marble sarcophagus with the remains of Celsus, the patron of the library. The sarcophagus itself was visible from the hall, if one stood in front of the central apse and looked down through two slits in the podium. An endowment covered the library’s operational expenses in ancient times, as well as annual commemorations on Celsus’ birthday, including the wreathing of the busts and statues and the purchasing of additional books. The life-size statues on the facade of the Library of Celsus [Photo: Myrsini Mamoli] Power and knowledge These two provincial libraries highlight how sponsors hoped to be associated with the virtues a library fosters. Books represent knowledge, and by dedicating a library, one asserted his possession of it. Providing access to learning was an instrument of power on its own. Beyond the handful of memorial libraries, many other ancient Roman public libraries were great cultural centers, including the Forum of Peace in Rome, dedicated by Emperor Vespasian; the Library of Hadrian in Athens; and the Gymnasium in Side, a city in present-day Turkey. The most magnificent libraries combined access to manuscripts and artworks with spaces for meetings and lectures. Several had great leisure areas, including landscaped sculptural gardens with elaborate water features and colonnaded walkways. Literary sources and material evidence testify to the treasures that were held there: busts of philosophers, poets and other accomplished literary figures; statues of gods, heroes and emperors; treasures confiscated as spoils of war and exhibited in Rome. A model of how Hadrian’s Library may have looked, complete with a landscaped courtyard. [Photo: Joris/Wikimedia Commons/CC BY-SA] Like the Ulpian Library itself, they continued the long tradition of Hellenistic public libraries, established by the most famous library of antiquity: the Library of Alexandria. Founded and lavishly endowed by the Hellenistic kings of Egypt, the Ptolemies, the building was meant to portray the king as a patron of intellectual activities and a powerful ruler, collecting knowledge from conquered civilizations. In ancient Greece and Rome, anybody who could read had access to public libraries. Rules of use varied: For example, literary sources imply that the Ulpian Library in Rome was a borrowing library, whereas an inscription from the Library of Pantainos in Athens explicitly forbid any book to be taken out. But these buildings were also meant to shape their sponsors’ legacies, portraying them as benevolent and learned. Presidential libraries in the United States today follow the same principle: They become monuments to the former presidents, while giving back to their local communities. Myrsini Mamoli is a lecturer of architecture at Georgia Institute of Technology. This article is republished from The Conversation under a Creative Commons license. Read the original article. View the full article

Sophia Rosenfeld is the Walter H. Annenberg Professor of History and Chair of the History Department at the University of Pennsylvania. Her previous books include the award-winning title Common Sense: A Political History. Her writing has appeared in scholarly journals, such as the American Historical Review and the Journal of Modern History, as well as in media publications including the New York Times, the Washington Post, and The Nation. What’s the big idea? There is such a thing as too many options. Nowhere is freedom-as-choice and choice-as-freedom more evident than in the United States. As important as the right to choose has been in various emancipation movements, there is a point at which choice can become a trap that goes too far. Below, Sophia shares five key insights from her new book, The Age of Choice: A History of Freedom in Modern Life. Listen to the audio version—read by Sophia herself—in the Next Big Idea App. 1. Having choices makes us feel free. Have you recently picked something—anything? Maybe a kind of sandwich, a political candidate, or a movie to watch from the comfort of your couch? Did you first consult a menu of options and decide which appealed to you? That answer is probably yes because this kind of choice-making is routine these days. I am also going to guess that the opportunity to make a choice was valuable to you, even if it didn’t fully register at the time. When we make a menu-based choice, most of us experience it as a kind of freedom. At that moment, no one is telling us what to do, and we get what we want. Sometimes, we even feel we are defining ourselves in the process as distinctive people with distinctive tastes: vegetarians vs. meat eaters, fans of simple fare vs. foodies, etc. The same goes for choice-making about everything from ideas and beliefs to jobs, dates, or spouses. Choice is where political life, democracy, and consumer culture converge. This is constantly being reinforced in our way of talking. Constitutions produced around the globe ever since the Second World War reflect this. You could also look at billboards and see this, too. The “right to choose” has become enshrined in everything from bills of rights to advertisements. For most of us, having options and being able to act on them in keeping with our desires is what feeling free (nowadays) is all about. 2. People always have as many choices—and they probably didn’t care. Exaltation of choice for choice’s sake, or choice as the key sign of autonomy, is relatively new. Just a few centuries ago, being at the top of the social scale meant not having to worry about what to own, where to live, whom to marry, what to believe, or who should rule. These questions were, ideally, already settled, sometimes from birth. You can probably imagine how this must have been a sort of privilege, as it meant a life without constant hustling. Choice didn’t have the special status it has today for men or, especially, women. Freedom was imagined differently. In the era of slavery and more rigid class structures, it had more to do with living without being dominated by someone else and with doing, of one’s own volition, what was right rather than wrong. We might say that the emergence of individualized and largely value-neutral choice as a stand-in for freedom is really the story of the development of modern life around much of the globe. It is the story of how we learned to shop, read selectively, choose a place of worship, pick dance partners and then life partners, vote in elections, and participate in the invention of whole fields of study—like psychology or economics—that explore how or why or when we make the choices we do. “We tend to see our attachment to choice as natural, maybe even biological, rather than something particular to our historical moment.” This story of how choice became the modern form of freedom has never been fully told or even recognized. That’s because we tend to see our attachment to choice as natural, maybe even biological, rather than something particular to our historical moment. However, once we see that we live uniquely in an age of choice as a result of historical factors, we also start to notice the many consequences of this development on how we live today. 3. Freedom of choice requires a lot of (largely invisible) rules. As choices have grown across all kinds of sectors, from romance to politics to decorating your house, they have required new technologies to make them work. Think of catalogues, sample books, ballots, surveys, and all their internet counterparts, which require a display of all the available possibilities along with ways to register one’s selections. The steady proliferation in both choice-making situations and choices themselves has demanded the invention of ever more rules about who can choose what and when and how. Selecting a sandwich off a menu posted behind a lunch counter paradoxically requires all kinds of largely invisible regulations that have also grown with time, from rules about the safety of the products one is picking amongst, to rules about what happens to the money you hand over in exchange for your turkey club, to rules about how to line up to register one’s choice in the first place. So-called “free markets” only work when laws of various kinds—themselves designed by a host of “choice architects,” in the lingo of behavioral economists—emerge to help make the whole business run smoothly. This kind of freedom to do or select what matches one’s preferences is generally only available in our hours not on the job, or so-called “free time.” It is also always restricted to some people rather than others: people with money, people of a certain age, people who are citizens or residents, people of one sex rather than the other. Choice is always a limited form of freedom insofar as it requires other constraints, formal and informal, to be operable. 4. Choice can be a trap with negative repercussions. Most of us, rightly, don’t want to relinquish any of our existing freedom to choose. There is good reason why having choices is associated with human rights protections and global happiness indexes. It is hard for most Americans to imagine the benefits of arranged marriages, or a political system without secret, individualized voting, or a world of provisioning rather than supermarkets, even though these are relatively recent developments in the broad sweep of history. But, then again, we rarely stop to look at the downsides of our reliance on and faith in choice. Humans are limited in our ability to make good choices, as psychologists often tell us, because we fail to really know our own minds. We are also made anxious by having too many choices since we can’t predict their outcomes and know we are likely to wonder if we picked wrong afterward. Who can’t relate to that feeling of slight panic and sometimes paralysis at the very 21st-century scenario of being confronted with too many options and too little guidance about how to discriminate among them, whether in real life or online? “Choice is always a limited form of freedom insofar as it requires other constraints, formal and informal, to be operable.” All this stress on individual choice means we often end up blaming people—especially disadvantaged people who face few or only bad choices—for outcomes that might not be entirely their fault. Is it really a “bad” choice, suggestive of criminality, to try crossing a border illegally if one is stuck in a war-torn nation with no other possibilities for moving elsewhere? We get so caught up in considering our own options for fulfillment that we become incapable of considering how to achieve something in our collective interest, like clean air, water, or a solution to the refugee problem. In such cases, having more choices doesn’t enhance our freedom and well-being on an individual or societal level. And for all its global appeal, not least under the guise of feminism, commitment to choice has also become a potent source of resentment in places and subcultures that do not accept that this central capitalist-democratic value should be a goal unto itself or that feel left out of its operation. That’s one reason political fights often revolve around the question of what choices should be available to whom, especially when it comes to women and their reproductive lives. 5. Knowing when to advocate for enhanced choices, and when not, could benefit us. This isn’t a brief for getting rid of choice, but we should be more attentive to when choice meets our needs and when it doesn’t or won’t. For example, we might find scenarios where we want fewer rather than more choices as consumers. Who wouldn’t prefer a single good-quality, mandated health insurance plan over picking between nine different market options, all with different contingency plans, which we have no way of foreseeing if they will match our future needs? As voters, we might want to take some options off the table entirely. I can imagine deciding we want to live in a world that doesn’t offer civilians the option of buying certain kinds of military-grade weapons, just as we prohibit the option of buying children or bodily organs or dangerous drugs or driving without passing a special test. We might even decide there are some scenarios in which we need to limit the choices of some people to increase the choices of others. Looking to history helps us see how choice came to occupy the importance and high status it has today. We can trace its development from the first want ads for spouses in the 18th century to Tinder today. History also shows where and how we risk going overboard, especially in the United States, where freedom-as-choice and choice-as-freedom are most evident. This inquiry is equally vital for ordinary people, business leaders, and policymakers. That’s especially true at this moment, when artificial intelligence is being developed to grow our choices further and also to tailor those choices to individuals—thus shaping and constraining which options we pick. We need to remain aware that the promise of choice has been critical to many emancipation movements, from abolitionism to feminism, and has given people new possibilities for how to live. Still, it is time we got past the idea that choice is either cost-free or always the solution, never the problem. Think about this fact next time you find yourself in front of any kind of menu. This article originally appeared in the Next Big Idea Club magazine and is reprinted with permission. View the full article

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Meta is updating its Facebook Live video storage policy, limiting the availability of live broadcasts to 30 days before automatic deletion. The change, which takes effect on February 19, will align Facebook’s storage policies with industry standards and streamline how live video content is managed on the platform. New 30-Day Limit for Live Videos Under the updated policy, new live broadcast videos can be replayed, downloaded, or shared for 30 days before they are automatically removed from Facebook. Previously, live videos were stored indefinitely. Additionally, all live videos older than 30 days will be deleted in phases over the coming months. Meta will notify users before deletion, giving them 90 days to download, transfer, or repurpose their content. Users will receive these notifications via email and in the app. Options for Downloading and Transferring Live Videos To assist users in preserving their content, Meta has introduced several tools to facilitate the download or transfer of live videos before they are removed. Single Video Download: Locate the Videos tab on your Facebook Page or profile. Find the live video you want to download. Open the video in full-screen mode, click […], and select “Download video.” Users can also download multiple videos via the Activity Log by selecting “Your live videos” and choosing a date range. Bulk Video Download: Users can select multiple live videos to download at once. A notification will direct users to the download interface, where they can choose a destination for the saved files. Transferring Live Videos: Users can transfer videos directly to cloud storage providers such as Dropbox or Google Drive. In the download interface, select “Transfer live videos” and choose a preferred storage location. Convert Live Videos to Reels To retain moments from past live videos beyond the 30-day limit, Meta is offering a feature that allows users to clip and convert live videos into Reels. This option enables users to share key moments on their profile pages. Postponing Deletion for Additional Time Users who need more time to manage their archived live videos can postpone deletion for up to six months. To defer deletion: Open the deletion notification. Select “Learn more” and tap “Postpone deletion.” Confirm by tapping “Postpone.” Image: Meta This article, "Meta Announces Changes to Facebook Live Video Storage Policy" was first published on Small Business Trends View the full article

Meta is updating its Facebook Live video storage policy, limiting the availability of live broadcasts to 30 days before automatic deletion. The change, which takes effect on February 19, will align Facebook’s storage policies with industry standards and streamline how live video content is managed on the platform. New 30-Day Limit for Live Videos Under the updated policy, new live broadcast videos can be replayed, downloaded, or shared for 30 days before they are automatically removed from Facebook. Previously, live videos were stored indefinitely. Additionally, all live videos older than 30 days will be deleted in phases over the coming months. Meta will notify users before deletion, giving them 90 days to download, transfer, or repurpose their content. Users will receive these notifications via email and in the app. Options for Downloading and Transferring Live Videos To assist users in preserving their content, Meta has introduced several tools to facilitate the download or transfer of live videos before they are removed. Single Video Download: Locate the Videos tab on your Facebook Page or profile. Find the live video you want to download. Open the video in full-screen mode, click […], and select “Download video.” Users can also download multiple videos via the Activity Log by selecting “Your live videos” and choosing a date range. Bulk Video Download: Users can select multiple live videos to download at once. A notification will direct users to the download interface, where they can choose a destination for the saved files. Transferring Live Videos: Users can transfer videos directly to cloud storage providers such as Dropbox or Google Drive. In the download interface, select “Transfer live videos” and choose a preferred storage location. Convert Live Videos to Reels To retain moments from past live videos beyond the 30-day limit, Meta is offering a feature that allows users to clip and convert live videos into Reels. This option enables users to share key moments on their profile pages. Postponing Deletion for Additional Time Users who need more time to manage their archived live videos can postpone deletion for up to six months. To defer deletion: Open the deletion notification. Select “Learn more” and tap “Postpone deletion.” Confirm by tapping “Postpone.” Image: Meta This article, "Meta Announces Changes to Facebook Live Video Storage Policy" was first published on Small Business Trends View the full article

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Clearly, automation will affect labor in 2025. But we maintain that when implemented well, automation elevates our employees and empowers our American workers to make U.S. businesses more competitive on the global stage. This is our “why.” Now Chang Robotics’ president, Kate McAfoose, will address the “how.” These are remarks she shared at a recent Delaware Valley Goods Movement Task Force quarterly meeting panel. New automation brings new challenges Yes, new challenges emerge with increased automation and digitalization. As an engineering firm, our company is coming from an engineering culture into companies ranging from manufacturing to warehousing, transportation, e-commerce, healthcare, and government spaces. Many are Fortune 500; some are smaller, but the challenges they face are the same: They want to maintain staffing from within their regions, but they must be sure they’re meeting quality requirements and regulatory benchmarks. They want to build a resilient supply chain within the U.S. So how do they transition manual workers to jobs informed by digital technologies? Smart technologies and asking the right questions As part of our robotic solutions, we integrate smart sensors, internet of technology (IoT) platforms, data collection, and analysis. We also provide C-suites with a dashboard to track key metrics, and identify areas where performance may be lacking. The dashboard answers questions such as “Are we maintaining uptime?” “Are we meeting production requirements?” “Are the quality measurements in line?” Perhaps the client needs to improve operational efficiency to maintain profitability. In healthcare, nursing staff may be burned out due to a shortage, leading to physical exhaustion or extended shifts. Or a government facility might be ready—or required—to transition to autonomous shuttles. In all cases, the process involves finding the repetitive tasks that are not necessarily high skilled, then finding ways to automate those functions. Now the challenge is to upskill the staff and operators to new trades as we’re implementing the systems. Training the trainers is key Our company has a philosophy called “train the trainer.” As we implement new technology, we walk side by side with the operators for roughly 3-6 months. We make sure they understand and can operate the system; then we help them champion the system. In addition to the new level of employment, they earn the metaphorical “badge of honor” for having learned a new trade. We focus on empowering employees who can go home and say, “My job is cool. I get to work with robots.” It’s not a situation of humans being replaced by robots, but in positioning them with collaborative robots that can drive efficiency and quality but cannot function without human interaction. If we implement the change in this way, everyone wins. A new world, with room for many How many people go through high school thinking, “I want to specialize in goods movement” or “I want to work in automated transport?” This is not a career path people have considered as a “cool” future role. But as these functions become better understood, the respect for their power will grow. There will still be a range of skilled and lower-skilled positions in the automated workforce. More positions will naturally focus on the maintenance and planning of the automated facilities. People will be required to perform maintenance and testing functions and to plan and maintain the spare parts inventory. These roles are vital to the operation’s success and will naturally gain a much bigger seat at the organizational table. Automation also applies to quality control. For example, if you’re automating plasticware production, the utensils must come off the line cleanly, with no excess edges. The moment one piece fails to meet quality standards, it can cause a backup in the entire line, leading to a shutdown and requiring manual labor to resolve the issue. If you’re operating with a smaller staff, you’ll need to pull workers from other areas, further slowing down production. Everyone involved will continually learn and adapt. Jobs remain, but skillsets are shifting It’s critical to avoid the assumption that automation leads to job reduction. It’s a drive for as much production and quality enhancement as possible, but it will require a specialized team to achieve. Ideally, it’s the same team you already have, but differently trained. Traditionally, manual warehouse labor roles have very high turnover. After 6 months, many workers feel the job is repetitive and unappealing, or they leave to avoid night shifts or seek higher pay elsewhere. When this happens, the training investment is lost, and the next employee must be trained. However, when automation is implemented effectively, the need for manual labor decreases. Ideally, this reduction can occur through natural attrition—when an employee moves on rather than advancing, the company may not need to hire a replacement. Automation can streamline roles that involve heavy lifting, high workplace injury risk, and increased burnout or boredom. People will leave less often. Effective automation can reward companies and workers in new ways. Technology for a bright future What does this mean for our children’s future? Kate has a child in kindergarten right now. “I have no idea what she will do. Maybe she’ll pursue data science or data analysis, but the truth is, the roles of the future most likely don’t even exist yet. But they will be necessary. And so will she.” We will continually need to strive for the right decisions and balance, with a focus on innovation and action. This is how the next generation of companies—and employees—can continue to win. Matthew Chang is founder and Kate McAfoose is president of Chang Robotics. View the full article

This post was written by Alison Green and published on Ask a Manager. This comment section is open for any non-work-related discussion you’d like to have with other readers, by popular demand. Here are the rules for the weekend posts. Book recommendation of the week: The Safekeep, by Yael van der Wouden. When her brother’s girlfriend comes to stay with her in the Netherlands, a woman’s post-war life is upended. (Amazon, Bookshop) * I earn a commission if you use those links. View the full article