Category: Business Development

Taking a break can improve your productivity

A recent survey indicated that the average American accrues 18 vacation days and uses only 16. The average French worker takes more than twice the vacation time. To some, this statistic encapsulates the difference between American and European workers. Americans are productive. Europeans are lazy. In fact, it might say the opposite.

Europeans understand that breaks improve workplace efficiency. We mistakenly believe that more hours will always increase output, while ignoring the clear evidence: The secret to being an effective worker is not working too hard.

The importance of choosing a brand or product name

World Many global companies, like Coca-Cola, Nike, Google, Intel and Microsoft, choose to use the same brand name in multiple countries.

This is not possible for every brand, but it can often be an advantage. Think of the degree to which a single brand name simplifies marketing and increases return on advertising investment. By comparison, how much more would one of these companies need to spend to achieve the same results with a different localised brand name in every market?

How to Reduce Expenses without Sacrificing Quality

How to Reduce Expenses without Sacrificing Quality Operational margins are narrowing; leaving business owners constantly looking for ways to reduce business running costs and increase profits.

Here are simple things you should do to reduce your business expenses and increase revenue without affecting productivity or quality.

Review Standard Operating Procedures

If a business has been in operation for several years, it is possible that some standard operating procedures have become obsolete or less efficient. It is important to re-evaluate operational processes from the bottom to the top, and make changes like trimming unnecessary steps that were needed before but are not anymore, or making new changes to labour functions.

Taking risks – is it essential to success?

Taking risks - is it essential to success More small business owners today are feeling optimistic about the economy. Nevertheless, the majority say the number of risks they are taking has remained the same over the past six months.

If you’ve been playing it safe with your business, the time may be ripe to take a chance again on risk. Calculated risks taken within your tolerance level can help you make decisions wisely while keeping your business energised and moving forward.

How to capture consumers’ attention at your event

Whether you call it event marketing, experiential marketing, live marketing, participatory advertising, or any other moniker, this is a brave new world of blowing things up, building in a technological overlay to real-world places, and convincing otherwise sane passers-by to dance or change clothes in the street—all with the motive of engaging consumers.

We talked with some of the smartest minds in experiential marketing to find out how they pull off memorable events—and make sure there’s significant consumer engagement long after the event is over.

Here’s what they told us:

Create an event within an event

Try to create an event within an event where you can touch a consumer one-on-one, where you can engage directly, and teach them about your product, and do so by interacting in a quality way. Have a truth-or-dare themed campaign, ask people to dance in the middle of the street, etc.

How to prevent employee vacation scheduling nightmares

How to prevent employee vacation scheduling nightmares Jason just announced that he got a great deal on tickets for his vacation. And Emily dropped a vacation request on your desk this morning. And now, Melanie is talking about her planned summer cruise. You’re happy your employees are looking forward to summer vacations – until you look at the dates and realise that they’re all for the same week in August. Now what?

Conflicts will happen, it’s inevitable. At some point two or more employees are going to request the same vacation days. And only one will be able to go.

How to kick-start your work week

We all know that success in life depends on a combination of hard work and talent. There’s also no denying the “luck” factor – being in the right place at the right time and meeting the right people. That said, there isn’t a “secret” to that kind of luck. It’s about doing things that put you in a position for that luck to happen.

We found ten things that successful people do at the start of their work weeks. Try them out, and you might find yourself having better luck as well.

James Reinhart, ThredUp.com – Use weekends effectively

You can’t have a great Monday morning if you had a lousy weekend. Work is obviously important if you want to be successful, but there’s always something that can wait until Monday. Weekends are a time for yourself, to unwind, to relax and to think. In fact, many people do their best thinking during leisure time, because you’re free from other work distractions and can think abstractly.

Mental strength is key to success

For all the time executives spend concerned about physical strength and health, when it comes down to it, mental strength can mean even more. Particularly for entrepreneurs, numerous articles talk about critical characteristics of mental strength—tenacity, “grit,” optimism, and an unfailing ability.

However, we can also define mental strength by identifying the things mentally strong individuals don’t do.

How To Become A Successful Entrepreneur

Is there a guaranteed formula to follow (as the headline suggests?)

Of course not. A quick look at the people who have become successful entrepreneurs shows the paths they took are as unique as they are.

But—and it’s a HUGE but—while their behaviour was idiosyncratic, their thinking was not.

A study shows that serial entrepreneurs—people who have successfully started two or more companies—all followed the same approach. And if it has worked for them, it may very well work for you.

Starting from scratch Vs Buying a business

Deciding whether to buy an existing business or start your own comes down to three things: what experience you have, what kind of business you want, and how open you are to taking financial risks.

Once you decide these things you can make a decision on how to proceed.

• How much experience do you have?

There is much more risk involved with starting your own business versus buying your own. 40 percent of new businesses fail in the first year and 80 percent fail within five years. If you have little experience with business or with the industry that you are planning on entering, buying an existing business is the safer route, as starting your own requires expertise in the areas of financing, infrastructure, and cash flow. Even if you are buying a business, it will take time to learn how it operates and where its weaknesses lie in order to craft a proper growth strategy.

Success comes in many forms in Business

Success means different things to different people whether we are talking about business or private life. In Business, the obvious assumption is that a successful entrepreneur is someone who is financially secure. What they earn, what they own, what they spend can give the impression of success. More, more, more is what we all ultimately strive for in terms of success – or is it?

Stop and reflect on your own life. Think about what success means to you. Don’t limit yourself by focusing on the big things. They are important but they also seem to demand way too much of our attention.

Take a moment to focus on all the little successes you have had – either in the past or today. These are the everyday things that make life worth living. To be able to make choices. To be able to motivate and inspire others. To share life (both the joys and the sorrows) with others. To feel and to show feeling. To love and to be loved. To make the most of every situation no matter the circumstances.