Route 422 Business Advisor

From the Editor's desk at Route 422 Business Advisor — Relevant news and information of interest to business owners and operators along the Route 422, Route 100 and Route 30 corridors in Southeastern Pennsylvania. Please visit www.422bizmag.com

 

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Benefits and Challenges of AI-Enabled Recruitment Chatbots

As Hureka has successfully delivered AI-enabled recruitment bots, we have an animated discussion on the benefits and scope of these bots for a small business. In this article, we discuss the benefits and challenges of recruitment chatbots and how it can help a small business streamline its hiring process, make it more efficient and improve candidate experience.

Long-Term Care Planning — Why You Can't Afford to Ignore It

Greg Koch's picture

Long-term care planning (or LTC planning for short) isn’t the most exciting topic. But most people can’t afford to ignore it in retirement. It’s the four-ton elephant in the room. "Long-term care is the unsolved problem for so many people," said AARP. Not only the fact that seven out of ten seniors will need some type of LTC, but there’s also the hefty price tag to consider.

What is Long-Term Care?

Should you payoff debt or save more for the future?

The answer is “it depends.” It depends on your goals, income, expenses, stage of life, the interest rate on your debt, the term of the debt, the return you are receiving on your cash in the bank, the return you are receiving from your long term investments and other various factors. Consider that the best case scenario is doing both in order to get ahead financially.

Many Applications for “Chatbot” Automated Assistants

Hureka has built a new app for restaurant owners. Talking with Roopak, I hear the excitement in his voice when we discuss the new chatbot. From many conversations we’ve learned the average restaurant owner is having a tough go of it — miniscule margins, high rent, staff retention, spoilage and numerous challenges to keep the customer engaged and to encourage repeat customers. The new restaurant app can solve these issues. Consider it an automated service executive, with zero downtime which takes milliseconds to answer customer queries.

Starting a Business, What You Need to Consider

If you’re thinking of starting a business, congratulations, as this can be one of the most rewarding experiences you could ever have. However, to have a successful business there are several factors to seriously consider before taking that first step.

You should consider a team of professionals to help your business get started on the right foot.  A good accountant and lawyer are critical in the beginning. 

Here are a few initiatives that you want to get right… from the start.

TAX & ESTATE PLANNING Charitable & Gifting Strategies

The Tax Cuts and Jobs Act passed in December 2017 preserved tax benefits associated

with charitable giving to qualified charities. Common charitable organizations include:

❏ Religious - church or other affiliations

❏ Charitable - hospitals, Alzheimer's association, Multiple Sclerosis Foundation, etc..

❏ Education - private high school, college or university

❏ Scientific - medical research, such as the Cancer Research Institute, etc..

❏ Veterans - Wounded Warrior Project, Hope for the Warriors, etc..

What is Sequence of Return Risk?

Greg Koch's picture

Sequence of returns risk can affect your long-term income the most in your early-retirement years. That is the timespan just before and right after you retire. You may have heard of that period called the “retirement red zone,” or generally the 10-year spread prior to and after retirement.

Thinking About Owning or Growing a Business?

Owning or growing a business is certainly challenging. The level of responsibility on the business owner is tremendous, increasing as the business grows. Availability and accessibility are key and absolute critical elements in growth. Hiring employees to help diffuse the pressure by means of delegation brings on its own new set of challenges and difficulties.

How Machine Learning Can Improve Small Business Operations?

One way is real time advertising.  Ads served up on Facebook or the same ad showing up on the next website you visit… because of your search behavior moments ago.

Hurekatek.com recently listed five ways to use chatbots for marketing to assist any business regardless of size. Customer support, digital assistant, research assistant, marketing automation and email marketing were covered because of published research indicating the need for all businesses, large and small, to take some form of action to employ at least one of the methods named.

Benefits and Challenges of AI-Enabled Recruitment Chatbots

As Hureka has successfully delivered AI-enabled recruitment bots, we have an animated discussion on the benefits and scope of these bots for a small business. In this article, we discuss the benefits and challenges of recruitment chatbots and how it can help a small business streamline its hiring process, make it more efficient and improve candidate experience.

Long-Term Care Planning — Why You Can't Afford to Ignore It

Greg Koch's picture

Long-term care planning (or LTC planning for short) isn’t the most exciting topic. But most people can’t afford to ignore it in retirement. It’s the four-ton elephant in the room. "Long-term care is the unsolved problem for so many people," said AARP. Not only the fact that seven out of ten seniors will need some type of LTC, but there’s also the hefty price tag to consider.

What is Long-Term Care?

Should you payoff debt or save more for the future?

The answer is “it depends.” It depends on your goals, income, expenses, stage of life, the interest rate on your debt, the term of the debt, the return you are receiving on your cash in the bank, the return you are receiving from your long term investments and other various factors. Consider that the best case scenario is doing both in order to get ahead financially.

Many Applications for “Chatbot” Automated Assistants

Hureka has built a new app for restaurant owners. Talking with Roopak, I hear the excitement in his voice when we discuss the new chatbot. From many conversations we’ve learned the average restaurant owner is having a tough go of it — miniscule margins, high rent, staff retention, spoilage and numerous challenges to keep the customer engaged and to encourage repeat customers. The new restaurant app can solve these issues. Consider it an automated service executive, with zero downtime which takes milliseconds to answer customer queries.

Starting a Business, What You Need to Consider

If you’re thinking of starting a business, congratulations, as this can be one of the most rewarding experiences you could ever have. However, to have a successful business there are several factors to seriously consider before taking that first step.

You should consider a team of professionals to help your business get started on the right foot.  A good accountant and lawyer are critical in the beginning. 

Here are a few initiatives that you want to get right… from the start.

TAX & ESTATE PLANNING Charitable & Gifting Strategies

The Tax Cuts and Jobs Act passed in December 2017 preserved tax benefits associated

with charitable giving to qualified charities. Common charitable organizations include:

❏ Religious - church or other affiliations

❏ Charitable - hospitals, Alzheimer's association, Multiple Sclerosis Foundation, etc..

❏ Education - private high school, college or university

❏ Scientific - medical research, such as the Cancer Research Institute, etc..

❏ Veterans - Wounded Warrior Project, Hope for the Warriors, etc..

What is Sequence of Return Risk?

Greg Koch's picture

Sequence of returns risk can affect your long-term income the most in your early-retirement years. That is the timespan just before and right after you retire. You may have heard of that period called the “retirement red zone,” or generally the 10-year spread prior to and after retirement.

Thinking About Owning or Growing a Business?

Owning or growing a business is certainly challenging. The level of responsibility on the business owner is tremendous, increasing as the business grows. Availability and accessibility are key and absolute critical elements in growth. Hiring employees to help diffuse the pressure by means of delegation brings on its own new set of challenges and difficulties.

How Machine Learning Can Improve Small Business Operations?

One way is real time advertising.  Ads served up on Facebook or the same ad showing up on the next website you visit… because of your search behavior moments ago.

Hurekatek.com recently listed five ways to use chatbots for marketing to assist any business regardless of size. Customer support, digital assistant, research assistant, marketing automation and email marketing were covered because of published research indicating the need for all businesses, large and small, to take some form of action to employ at least one of the methods named.

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Group contributors

Contributors

  • William Brogley's picture
  • Gary Seibert's picture
  • Andrew Rohrbough's picture
  • Randy Rowe's picture
  • Christine Messmer's picture
  • Peggy Lee-Clark's picture
  • Diane Klinger's picture
  • Greg Koch's picture
  • Steve Bamford's picture
  • Alyse Mitten's picture
  • Anthony M. Mazzo's picture
  • Paul Fair's picture
  • Maria Novak's picture
  • Barry Cassidy's picture

Organizers

  • Bill Haley's picture