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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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.

Retain Clients — Grow Your Business

How much time and money do you spend trying to get new customers? How much time and money do you spend keeping your existing customers? Ray Kroc, founder of McDonalds was quoted as saying “It is much more profitable to sell multiple products to one customer than to sell just one product to many customers.”

What is a 1035 Exchange?

Greg Koch's picture

Do you have a current annuity or insurance policy that doesn’t fit your needs? If you are on the lookout for a new policy, a 1035 exchange may be a good option for you.

How a 1035 Exchange Works

ESTATE PLANNING Part Two - Last Will versus Living Trust

The correct strategy for you last will or living trust depends on your individual

circumstances and objectives. A last will determines how your assets pass to your heirs or others

at your death; whereas, a living trust is created in your lifetime and affects your property during

your lifetime and upon your death. If you establish a living trust, then it is advised that you have

a “pour-over will” for any assets that may not be in trust at the time of death.

A last will generally costs less and is very easily established, but cost should not be a

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.

Retain Clients — Grow Your Business

How much time and money do you spend trying to get new customers? How much time and money do you spend keeping your existing customers? Ray Kroc, founder of McDonalds was quoted as saying “It is much more profitable to sell multiple products to one customer than to sell just one product to many customers.”

What is a 1035 Exchange?

Greg Koch's picture

Do you have a current annuity or insurance policy that doesn’t fit your needs? If you are on the lookout for a new policy, a 1035 exchange may be a good option for you.

How a 1035 Exchange Works

ESTATE PLANNING Part Two - Last Will versus Living Trust

The correct strategy for you last will or living trust depends on your individual

circumstances and objectives. A last will determines how your assets pass to your heirs or others

at your death; whereas, a living trust is created in your lifetime and affects your property during

your lifetime and upon your death. If you establish a living trust, then it is advised that you have

a “pour-over will” for any assets that may not be in trust at the time of death.

A last will generally costs less and is very easily established, but cost should not be a

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