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4 reasons your company, no matter how small, should hire a financial advisor

(FINANCE NEWS) Small business owners and self-employed professionals alike all too rarely take advantage of a resource tailor-made to avoid both Chapter 11 and being conquered by Persia: expert financial advisor help.



financial advisor

Rollin’ in it

Money! That’s what I want.

Ever since Croesus of Lydia went wading in the Pactolus, we humans have been rolling with the root of all evil. And ever since he lost it all, got his country stomped out and died a cautionary tale, we’ve worried ourselves sick over same. Entrepreneurs and business owners above all live with the possibility of a single financial misstep ending their careers with a whimper.


Why you need a financial advisor

Ain’t necessarily so. Small business owners and self-employed professionals alike all too rarely take advantage of a resource tailor-made to avoid both Chapter 11 and being conquered by Persia: expert financial help. A financial advisor may sound like a luxury for the super-rich, but in practice, having a team member tasked to manage the money and make it work is smart for the wealthy, but indispensable for the up-and-coming.

Here follow four ways a dedicated financial advisor can enhance the prospects of startups, small business owners, and even self-employed professionals like your humble narrator.


They know what they’re doing (and you may not).
Let’s be real: entrepreneurship takes ego. Nobody hats up and starts a business unless they believe they’re smarter, tougher, and more capable than their cube-comfortable peers. We know what we’re doing. We don’t like to admit there are things we can’t handle. But the plain fact is, when small businesses fail, and 4 out of 5 do, it’s usually about money management, or more accurately lack of same.

I guarantee that 4 out of 5 thought they knew what they were doing too, up to the exact moment they found out they didn’t. It’s not about lack of experience, either: per the Corporation For Enterprise Development 37 percent of experienced business owners fall short of expenses. Hiring a financial advisor means an extra expert eye on the thorniest, most treacherous aspect of small business ownership.


They’ll plug you in.
Networking is everything. Everybody knows that. Running a business always comes down to how well you work with your fellow h. sapiens. But even if you’ve got your people skills on lock, how do you get past your threshold? You can be as pleasant and personable as the day is long, but unless you’re God – you’re not God; you’re probably aware of that, but I did mention entrepreneurs and ego – you don’t actually know everybody.

Financial advisors do. Like other consultants, financial advisors invariably have a phonebook’s worth of leads and contacts in their area of expertise. Want to expand the scope of your business? Knowing what everybody is doing at all times is literally a financial advisor’s job. They have an in with everybody. They have to. That knowledge alone is worth the money.


They cross-pollinate.
“Cross-pollinate” is the term used by Barry Glassman of Forbes in his superb article on the value of advice to small business owners. The huge list of contacts maintained by financial advisors doesn’t just mean new business opportunities. It means new ideas from the whole scope of your industry, a chance at ground-floor involvement with… pretty much everything worth your time.


You succeed, they succeed.
There are several compensation models for financial advisors in the United States, but they all have one thing in common: they get paid better when you get paid better. For fee-only advisors, that rule is absolute: they are compensated solely by the client, usually as a percentage of assets under management, and have a fiduciary duty to act only in the client’s best interest.

Fee-only is comparatively new: financial advisors have traditionally been compensated with commission on the sale of financial instruments. But commission-based advisors aren’t Snidely Whiplash twirling his mustache either. For one thing, they’re by definition cheaper: no fee, just commission on what you personally choose to buy. The lower price makes the commission model well suited to accounts that require comparatively little oversight, either because they’re not particularly active or because you have the financial expertise to handle most management tasks yourself (but refer to entry 1!). Dubious doings aren’t unknown, particularly the dread “churn“, but no more so than in other financial professions.

As with money itself, the question of advice comes down to poor old Croesus of Lydia. Remember him? King of Turkey, literally invented money, and he ended up set on fire and only extinguished because he screamed something interesting. Know how he got there?

Didn’t listen to the right advice.

No reason to fail

Expertise matters. Specialty matters. Having enough hours in the day to get the work done most definitely matters. Every one of those things gets better with the service of a reliable advisor. That’s how you conquer the world.


Matt Salter is a writer and former fundraising and communications officer for nonprofit organizations, including Volunteers of America and PICO National Network. He’s excited to put his knowledge of fundraising, marketing, and all things digital to work for your reading enjoyment. When not writing about himself in the third person, Matt enjoys horror movies and tabletop gaming, and can usually be found somewhere in the DFW Metroplex with WiFi and a good all-day breakfast.

Tech News

Snap a business card pic, Microsoft app finds ’em on LinkedIn

(TECH NEWS) Microsoft Pix is teaming with LinkedIn in a neat way that will benefit networking, especially if you have any lazy bones in your body.



microsoft pix

Have you ever been watching some sort of action-adventure movie where there’s a command center with all sorts of unbelievable technology that kind of blows your mind? Well, every day we come closer and closer to living within that command center.

You may think that I’m talkin’ crazy, but check this out – there is a new technology that can scan a business card, and find the business card’s owner on LinkedIn. (Can I get a “say what????!”)

This app is courtesy of Microsoft and goes by the name Pix (it’s not new, but this function is).

The way it works is simple: Bill Jones hands you his business card, you fire up the Pix app (currently only on the iPhone. Sorry, Droids), you snap a picture of the card and the app takes the details (phone number, company, etc.) and finds Bill on LinkedIn. Bingo.

It also will automatically take that information and will create a new profile for Bill Jones within your phone’s contacts. After you scan the business card through Pix, Microsoft will ask if you want to take action.

At this point, Pix will recognize and capture phone numbers, email addresses, and URLs. If your phone is logged into LinkedIn, the apps will work together to find Bill’s profile. Part of me wants to think that this is kind of creepy but a larger part of me thinks that it’s really cool.

According to Microsoft Research’s Principal Program Manager, Josh Weisberg, “Pix is powered by AI to streamline and enhance the experience of taking a picture with a series of intelligent actions: recognizing the subject of a photo, inferring users’ intent and capturing the best quality picture.”

“It’s the combination of both understanding and intelligently acting on a users’ intent that sets Pix apart. Today’s update works with LinkedIn to add yet another intelligent dimension to Pix’s capabilities.”

Pix itself originally launched in 2016 as a way to compete against AI’s ability to edit a photo by use of exposure, focus, and color. This new integration in working with LinkedIn is a time saver, and is beneficial for those who collect business cards like candy and forget to actually do something with them.

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Tech News

Walmart and the blockchain, sitting in a tree

(TECH NEWS) Say goodbye to #foodwaste with Walmart’s new smart package delivery proposal featuring everyone’s favorite pal, blockchain.




Following the trend of adding “smart” as a prefix to any word to make it futuristic, Walmart now proposes “smart packages.” The retail giant filed for a new patent to improve their shipping and package tracking process using blockchain.

Last week, the U.S. Patent and Trademark Office (USPTO) released the application, which was filed back in August 2017.

Officially, the application notes the smart package will have “a body portion having an inner volume” and “a door coupled to the body portion” that can be open or closed to restrict or allow access to the package contents.

In other words, they’ve patented a box with a door on it that also has lots of monitoring devices.

Various iterations lay claim to all versions of said box include smart packaging utilizing a combination of monitoring devices, modular adapters, autonomous delivery vehicles, and blockchain.

Monitoring devices would regulate location tracking, inner content removal, and environmental conditions of the package like temperature and humidity. This could help reduce loss of products sensitive to environmental changes, like fresh produce.

Modular adapters perform these actions as well, and also ensure the package has access to a power source and the delivery vehicle’s security system to prevent theft.

Blockchain comes into play with a delivery encryption system, monitoring, authenticating, and registering packages. As it moves through the supply chain, packages will be registered throughout the process.

The blockchain would be hashed with private key addresses of sellers, couriers, and buyers to track the chain of custody. Every step of the shipping process would be documented, providing greater accountability and easier record keeping.

This isn’t Walmart’s first foray into the world of blockchain. Last year they teamed up with Nestle, Kroger, and other food companies in a partnership with IBM to improve food traceability with blockchain.

Walmart also took part in a similar food tracking program in China with last year as well.

And let’s not forget Walmart’s May 2017 USPTO application to use blockchain tech for package delivery via unmanned drones. Their more recent application builds on the drone idea, which also proposed tracking packages with blockchain and monitoring product conditions during delivery.

In their latest application, Walmart notes, “online customers many times seek to purchase items that may require a controlled environment and further seek to have greater security in the shipping packaging that the items are shipped in.”

Implementing blockchain and smart package monitoring as part of the shipping process could greatly reduce product loss and improve shipment tracking.

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Tech News

Experts warn of actual AI risks – we’re about to live in a sci fi movie

(TECH NEWS) A new report on AI indicates that the sci fi dystopias we’ve been dreaming up are actually possible. Within a few short years. Welp.



AI robots

Long before artificial intelligence (AI) was even a real thing, science fiction novels and films have warned us about the potentially catastrophic dangers of giving machines too much power.

Now that AI actually exists, and in fact, is fairly widespread, it may be time to consider some of the potential drawbacks and dangers of the technology, before we find ourselves in a nightmarish dystopia the likes of which we’ve only begun to imagine.

Experts from the industry as well as academia have done exactly that, in a recently released 100-page report, “The Malicious Use of Artificial Intelligence: Forecasting, Prevention, Mitigation.”

The report was written by 26 experts over the course of a two-day workshop held in the UK last month. The authors broke down the potential negative uses of artificial intelligence into three categories – physical, digital, or political.

In the digital category are listed all of the ways that hackers and other criminals can use these advancements to hack, phish, and steal information more quickly and easily. AI can be used to create fake emails and websites for stealing information, or to scan software for potential vulnerabilities much more quickly and efficiently than a human can. AI systems can even be developed specifically to fool other AI systems.

Physical uses included AI-enhanced weapons to automate military and/or terrorist attacks. Commercial drones can be fitted with artificial intelligence programs, and automated vehicles can be hacked for use as weapons. The report also warns of remote attacks, since AI weapons can be controlled from afar, and, most alarmingly, “robot swarms” – which are, horrifyingly, exactly what they sound like.

Read also: Is artificial intelligence going too far, moving too quickly?

Lastly, the report warned that artificial intelligence could be used by governments and other special interest entities to influence politics and generate propaganda.

AI systems are getting creepily good at generating faked images and videos – a skill that would make it all too easy to create propaganda from scratch. Furthermore, AI can be used to find the most important and vulnerable targets for such propaganda – a potential practice the report calls “personalized persuasion.” The technology can also be used to squash dissenting opinions by scanning the internet and removing them.

The overall message of the report is that developments in this technology are “dual use” — meaning that AI can be created that is either helpful to humans, or harmful, depending on the intentions of the people programming it.

That means that for every positive advancement in AI, there could be a villain developing a malicious use of the technology. Experts are already working on solutions, but they won’t know exactly what problems they’ll have to combat until those problems appear.

The report concludes that all of these evil-minded uses for these technologies could easily be achieved within the next five years. Buckle up.

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