The Entrepeneur Studio is a podcast produced and sponsored by Heartland Payments that is wrapped their second season by looking at trends for business owners who expect to see in the New Year.

Mr. Chris Allen, the podcast host and Heartland’s Senior Vice President of Marketing, sat with Adam Mitchell, Heartland’s Executive Vice President of Product Technology to discuss the 2024 financial landscape that had its impact on the payments industry. From the role of technology, to strategic considerations in everyday operations and customer experience, Allen along with Mitchell provides actionable insights to have listeners moving in the right direction for the New Year.

Mitchell words are, “You can’t be prepared for most black swan events, but at this point it would behoove you to have a plan if some things that have played out the last few years come to fruition again,” He continued, “Don’t feel like you need to burden yourself with the full weight of inflation just because you don’t want to pass on some of that expense to your customers. If you haven’t truly looked into the price sensitivity of your goods and services, you’re leaving some important revenue on the table that your customers would be willing to digest.”

Among key topics addressed, some of them were how to adjust to and adapt to changing technology, how new tech help small businesses navigate change with the cautions and considerations regarding the future of AI.

Mitchell said, “Every software provider you’re seeing right now has tremendous incentive to enhance their solutions with artificial intelligence,” “It’s not going to require you to leverage those tools in the future. Your point of sale provider, your payroll provider, your supply chain or logistics service provider, whatever it might be: they are all thinking critically about how to integrate these tools to make your life better”, he added.

Mitchell also acknowledged the rising unease surrounding AI. In his own words, “I think a lot of people fear that these tools will put them out of a job, and it’s true in some regard.” Additionally he said, “But I think they will probably create many, many more than they eliminate. Did the internet get rid of some jobs? Absolutely. Did the internet create way more jobs than it eliminated? Yes.”

For more insights from this episode and many others, download and listen for free major podcast platform.

About The Entrepreneur’s Studio

The Entrepreneur’s Studio was launched in June 2022 with the purpose of empowering and educating entrepreneurs and small business owners along their business journey. The podcast has played host to many well-known entrepreneurs, including Mel Robbins, Danny Meyer, Christina Tosi and many more.

Last week, Robbins, whose ownThe Mel Robbins Podcast, was recently named Apple Podcasts’ fifth most followed podcast globally in 2023, featured a dual-recorded episode of The Entrepreneur’s Studio on her platform.