3 Reasons Why Recessions Are Awesome For Great Companies

It may be jarring to read the words “recession” and “awesome” in the same sentence. Recessions are bad for most people. I will not make light of how horrible recessions are for the vast majority of companies and their employees, (as well as for not-for-profit organizations and governments).

For most companies, recessions mean increased stress at work, stalled career progression or even layoffs, uncertainty, increased board and shareholder pressure, increased financial strain and a feeling of looming danger in the pit of your stomach, which is no fun to wake up to every day!

But for great companies, recessions can be awesome.

What are great companies?

Great companies make great products or deliver great services to customers. They provide a wonderful work culture that attracts and retains talented people. And because they take great care of customers and employees, great companies don’t have a dangerous debt burden. They are profitable and able to pay their bills to suppliers while delivering an attractive return to investors in dividends and equity appreciation.

How are recessions awesome for great companies?

Recessions allow great companies an opportunity to do the following:

1. Shake loose the cobwebs of complacency.

“Success breeds complacency,” said Andy Grove, the legendary CEO of Intel. And while I’m not here to suggest everybody embrace full-on “paranoia” in the workplace (Only The Paranoid Survive), I am here to suggest that great companies have to keep hustling to stay great. A recession provides an opportunity for a wake-up call to great companies that may start to coast on past greatness and help them get back on track.

2. Take customers and colleagues away from lesser companies that don’t deserve them.

As lesser companies stumble during recession (e.g., shutting locations, letting service and quality drop, highlighting dysfunction in the culture, etc.), it’s the perfect time for great companies to pick up more customers and talented people. I remember when a successful business services company with 70 locations around North America entered the ’08 recession. Lesser competitors were closing branches and laying off people, and service was slipping. But the CEO of the successful company was not fearful about the recession. Instead, he sensed the opportunity to win more customers with better service and poach some top talent away from the struggling competitors. The recession allowed this great company to gain market share and build a stronger leadership talent pipeline.

3. Increase the rate of learning of your leaders.

Time seems to move more quickly for me during harder times than during easy times. This can improve the learning curve of your up-and-coming leaders. Just remember to not make too many decisions for them; that will stunt their growth. Allow your leaders to come to you with problems and solutions, and coach and support them. Let them test and learn various approaches to leading through uncertain times.

Geoff Smart is chairman and founder of ghSMART. Geoff is co-author, with his colleague Randy Street, of the New York Times best-selling book, Who: A Method For Hiring, and the author of the No. 1 Wall Street Journal best seller Leadocracy: Hiring More Great Leaders (Like You) Into Government. Geoff co-created the Topgrading brand of talent management. He is the founder of two 501(c)(3) not-for-profit organizations. SMARTKids Leadership Program™ provides 10 years of leadership tutoring, and the Leaders Initiative™ seeks to deploy society’s greatest leaders into government. Geoff earned a BA in Economics with honors from Northwestern University, and an MA and PhD in Psychology from Claremont Graduate University.

New Microsoft Edge Features that will Make you Want to Switch Browsers

The latest iteration of Windows’s default web browser was built from the ground up using the same code as Google Chrome. It’s a similar yet entirely different browser that offers faster loading times, improved security and support, and better compatibility with websites and extensions, among other outstanding features. Here’s what else you can look forward to in the new Microsoft Edge.

1. Collections

Collections allow you to gather information from different sites, then organize, export, or return to it at a later time. Doing these can be especially difficult if you’re working across several sites and multiple devices.

To use this feature, simply click on the Collections button and a pane will open on the right side of your browser window. Here, you can easily drag and drop web pages, text, images, videos, and other elements into a group, which you can then import to a Word document or Excel workbook.

2. Vertical tabs

Vertical tabs are a handy feature if you often find yourself opening dozens of tabs at once at any given time. Instead of having to hover over or click on one to see which page it’s on, you can easily find and manage your tabs on the side with a single click. You’ll never have to lose track of or accidentally close tabs again.

3. Smart Copy

How often do you copy content from the web and paste it into a document only for it to become an ugly mess of text that needs to be cleaned up? This won’t be a problem if you use the new Microsoft Edge. The Smart Copy feature makes it easier to select, copy, and paste web content — including any images or links — while preserving its formatting.

4. Tracking prevention

Whenever you visit a site, online trackers can collect information about your internet activity, including pages you visit, links you click on, your search history, and more. What’s alarming is that they can do this even when you’re not on the site. Companies then use the data collected to target you with personalized advertisements and experiences. This can seem highly intrusive, if not downright creepy.

The new tracking prevention feature in Microsoft Edge is designed to keep you from being tracked by sites that you aren’t accessing directly. It’s enabled by default, and it gives you control over the types of third-party trackers to be detected and blocked, thereby enhancing your online privacy.

5. Password Monitor

Millions of online personal credentials are frequently exposed due to data breaches and sold on the dark web. To keep your online accounts safe from hackers, Microsoft developed the Password Monitor. When enabled, this feature notifies you if the credentials you’ve saved to autofill is on the dark web. It then prompts you to take action, allowing you to view a list of all the leaked credentials and then leading you to the respective site to change your password.

6. InPrivate mode enhancements

Sometimes, you may want extra online privacy when browsing the internet, especially if you’re sharing devices with other people. When you use the InPrivate mode, your history, cookies, and site data are automatically deleted once you finish a web browsing session. What’s more, your searches aren’t tied to your account, so you don’t have to go through the hassle of deleting your search or browser history.

7. Immersive Reader

Built into the new Microsoft Edge, Immersive Reader makes reading online easier and more accessible by removing distractions on the page and creating a simplified environment that helps you to focus. This feature also gives you access to a variety of capabilities, including hearing text read aloud or adjusting the text size.

8. 4K and Dolby Audio

If you enjoy binge-watching the latest series on Netflix or just want a high-definition entertainment experience when viewing content online, then this feature is for you. Microsoft Edge is the only browser on Windows 10 that lets you watch Netflix in stunning 4K resolution and supports Dolby Audio and Dolby Vision.

9. Give with Bing

Bing now comes with a Give Mode feature that allows you to support the causes you care about by simply searching using the search engine. As part of the Microsoft Rewards program, you can earn reward points for searches and donate these points to one out of more than a million nonprofits to choose from. This includes the CDC Foundation and other organizations supporting the COVID-19 response.

10. Easy switching

Microsoft Edge is available to download for Windows, Mac, iOS, and Android. What’s great is that you can easily copy or migrate your bookmarks, form fill information, passwords, and basic settings to the new Microsoft Edge with just a single click.

If you want to learn more about the latest features of Microsoft Edge and how to enjoy these benefits on your business computers, give us a call today.

Is Your Cloud Solution Going Over Budget?

The cloud is the perfect solution for small- and medium-sized businesses like yours. For a small monthly fee, you get access to cutting-edge technologies and 24/7 support from a team of cloud experts. But without proper management, cloud costs can quickly go over your budget. Here’s what you should do to keep it from becoming too expensive.

Don’t go for stand-alone services
Stand-alone services are the biggest price trap in the cloud. Spending on a stand-alone cloud software may seem harmless now, but if you decide to purchase similar services, the costs can quickly pile up. Then, there’s the issue of integrating these systems together, which costs even more time and money.

The best way around this is to find a service provider that offers a suite of products that work seamlessly together. Platforms like Office 365 or G Suite are great examples, and offer you differently priced packages based on the size and requirements of your business.

Team up with integration experts
If you do need to subscribe to a stand-alone service, you’ll want to integrate it with the rest of your cloud platform. But if you have limited experience with integrations, mistakes are likely to happen and cause downtime, which will inevitably cost you time and money.

The more economical option is to partner with a cloud integration expert, as they can quickly configure and deploy your systems with zero mistakes.

Understand cloud backup costs
While cloud backups are great for keeping your data secure, you must know how much you’re paying for them. If you plan on storing your data for a long time, you may be charged more. At the same time, if you store more versions of your data, it will cost you more.

One way you can keep costs down is to ask yourself whether certain files even need to be stored in the cloud. Mission-critical files like customer information, legal document, and business plans should be stored in the cloud so you can retrieve them right away after a disaster, but routine documents like time sheets can probably be stored in less expensive data centers.

Remove unnecessary accounts
Most cloud service providers charge you based on the number of users per month, so if you’re not diligent about removing accounts when employees have left your company, you could be throwing your money down the drain.

To avoid this, you need to have de-provisioning procedures in place for when an employee’s contract is terminated. Create a spreadsheet of each employee in your payroll and note down their cloud subscriptions. When an employee leaves your company, you must delete all their business accounts and give the relevant manager access to all their documents.

It’s also a good idea to schedule regular audits to make sure you’re not paying for people who’ve already left your company.

Work with a trustworthy provider
Last but not least, you’ll want to partner with a cloud services provider that not only gives you the best deals on cloud solutions, but also proactively monitors your account and warns you about any issues regarding the computing resources and storage space you’re using.

If you’re looking to keep cloud costs under control, talk to us today. If you’re looking to keep cloud costs under control, talk to us today. At Net Activity,  we’re the experts at making the cloud work for each and every client, and we’d love to speak with you about how we can do the same for you!

Have you updated your firmware yet?

When was the last time you checked if the firmware of your gadgets is up to date? If it has been a while, then you need to do so right away. This is because you might be using outdated firmware, and doing so makes you vulnerable to data breaches and other cyberattacks.

What is firmware?

Firmware is a basic type of software that is embedded into every piece of hardware. It controls the device it’s installed on, cannot be uninstalled or removed, and is only compatible with the make and model of the hardware it is installed on. Think of it like a translator between your stiff and unchanging hardware and your fluid and evolving software. For example, the firmware of a TV remote control processes the button presses and sends that data into a format that the TV can understand.

Why is firmware security important?

To clearly explain the importance of firmware security, let’s use the firmware installed in a router as an example.

When you buy a router and plug it in, its firmware allows it to connect devices to your wireless network with almost zero input from you. However, if the router manufacturer is outside of California, then they might still be using the same username and password for the same router model, if not for all router models. If you don’t change these default settings, you could be exposed to hackers.

Default usernames and passwords is an example of a known vulnerability, and firmware could have other vulnerabilities that cybercriminals could exploit. Black hat hackers could use these to spy on you, steal or corrupt your data, or even damage your systems. Unfortunately, firmware exploits are not rare occurrences. Not too long ago, a cybersecurity professional discovered that sending a 33-character text message to a router generated an SMS response that included the administrator username and password.

How do I protect myself?

The best way to defend yourself from firmware exploits is to immediately roll out firmware updates from the device’s manufacturer. With that said, you need to keep in mind that every manufacturer has different procedures for checking and updating firmware. For instance, if you have a D-Link router, typing “192.168.0.1” into a web browser will allow you to access its firmware and update process, assuming you have the username and password. If you’re unfamiliar with your router manufacturer’s procedures, you can type “[manufacturer name] router firmware update” on any search engine like Google.

But remember, routers are just one example of how firmware affects your cybersecurity posture. Hard drives, motherboards, and even mice and keyboards need to be checked as well. We understand this can be extremely tedious, and that’s why we highly recommend hiring an IT provider to take care of it for you. If you’re curious about what else we can do to help, give Net Activity a call today!