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Archive for the ‘Entrepreneurship’ Category

Entrepreneurship

May 31, 2017

Getting online

Nowadays, more and more people are bringing their business online with varying degrees of success. It is important for internet entrepreneurs to be aware of the pros and cons of doing business online. If you know about everything about doing business online, this knowledge will empower them to make the right decisions and implement the correct strategies if they do go ahead and start a business on the internet.

One of the usual reasons why setting up an online business is popular is because of its cost. Online businesses are relatively cheaper than bricks and mortar businesses. If you are setting up your own website with your business plan you may only need to pay for a domain name and web hosting which would cost you less than $100. Even for the most expensive opportunities, they are still way cheaper than other businesses.

When you run a business online, you can also save from operational cost and administrative expenses as you don’t need to hire employees. Many online business owners work from home which means that expenses like lighting and heating and other expenses would normally be incurred in an office block, are saved.

Running a business online gives you flexibility as you can run it from anywhere as long as there is internet connection.

There are many other advantages of running an online business. However, there are also some disadvantages. To learn more about these pros and cons, read this: http://www.asbfeo.gov.au/starting-a-business/getting-online

Entrepreneurship

January 16, 2017

Ways to Improve Employee Satisfaction

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Obviously, there are a lot of benefits you can get when your organisations try to improve its service quality. That is the reason why managers devote so much time and money to training programs and workshops that provide employees with guidelines on the specifics of dealing with clients or customers.

However, what managers don’t fully understand is that such attempts, real improvements in customer service start with providing superior service and support to the employees themselves. The truth is making sure that your employees are happy and satisfied can give lots of positive effects, which include giving their maximum efforts in providing the best services to your customers.

In our organisation, our employees are our biggest asset. Many business owners think that they only need to pay attention to paying customers, providing them with exceptional service. Yet, it has been proven that keeping your employees satisfied with their work experience can give great advantages including better customer service. By providing them with challenges and allowing them to have a sense of ownership in the business, it can have a tremendous effect on customer satisfaction and loyalty.

All successful have one thing in common – they got happy employees working for them. If you want to learn more about how to make your employees happy, you should read this article: http://www.business.com.au/articles/ways-to-improve-employee-satisfaction

Entrepreneurship

December 21, 2016

What kind of performance review do you want, anyway?

Fewer than half of employees say performance reviews help improve performance.

Performance reviews are a part of an organisation activity that is normally dreaded by both managers and employees. However, when done correctly, performance reviews can be helpful both for managers, employees and the team.

Business performance reviews are an important task. In fact, it should be more than just a task to mark off your to-do list. As a manager, you can transform your review process into an effective way to improve employee performance and satisfaction. Time spent on performance reviews is an investment in your workforce.

Significant preparation is an important element when it comes to performance review. Start with the job description and your company’s goals for the role. Gather data about the employee’s performance throughout the year.

Keep in mind that a performance review should be a private conversation between you and your employee. Plan to meet in an office or area that is away from customers and other employees. Select the day and time, and tell the employee well in advance.

In a performance review, your evaluation is important. However, your employee’s evaluation on his or her performance is also valuable. To make this more effective, you can include self-assessment for your employees to see how they feel about their performance.

An article posted by Sydney Morning Herald can help you with your performance review. You can check out the full article here: http://www.smh.com.au/business/workplace-relations/what-kind-of-performance-review-do-you-want-anyway-20161219-gte3z0.html

Entrepreneurship

April 1, 2016

Hard work is never enough

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Figuratively speaking, running a business is like cooking your favourite food. Just like cooking, you need to have the perfect recipe in order to get what you really want to achieve and become successful, specifically developing the right “mix” of ingredients to successfully promote your business in an integrated marketing campaign and  eventually generate tons of sales.

Basically, there are a number of recipes needed to become successful with your business venture: advertising, marketing, public relations, human resource management, accounting, and others. Of course, there are many subgroups within each of these groups, including direct mail, radio advertising, community relations, Web marketing, marketing brochures, press releases and so on, but you get the idea.

As with any good recipe, it’s critical to have the right ingredients, in the correct quantities and in with perfect. Running a business is not an easy task so you really need to pay attention to every single detail in your business and be eager to learn.

Often, hard work plays a key factor for a businessman’s success. You can hear a lot of success stories wherein how much certain entrepreneurs have put their work in to reach the success they got today. But just like we said, the success of a business involves various recipes.

To give you a deeper understanding on why hard work is not enough to become successful, read this article from WA Today: http://www.watoday.com.au/small-business/managing/work-in-progress/hard-work-is-never-enough-20160331-gnv8dr.html