Business

Business Etiquette

Globalization has led us to “tear down borders” and make close agreements with countries that have  different language and customs. Moreover, there is a wide range of people who want to know both social and business etiquette.

In my particular experience, the etiquette rules have opened doors for me in life. It has helped me get ahead in various situations. also, There has also been a considerable percentage of people who have entrusted me in the same way, having obtained a good job.

The importance of presenting someone with the proper protocol treatment: knowing how to be a first-class host who knows where to receive his guests, have a civil discourse and where to say goodbye, give attention to the authorities in a formal ceremony, and more, are those that make the person have the security of not making mistakes. The treatment that precedes any sale of products or services.

The five benefits of corporate etiquette that globalization can provide are:

1.Helps establish long-lasting business relationships, facilitating business closure

However, An employee or a team of employees who do not have the training in business etiquette may make mistakes in practice or errors of omission that affect your business’s perception.

2.Serves as a competitive advantage over other professionals who probably do not practice it

Many people avoid investing in training that they believe will not be useful to them. , the world’s reality has changed, and it increasingly demands much more to be part of a group; the group is developing, and have a solid foundation is vitally important.

3.Provide a standard that gives distinction and exclusivity to your company

Of course, few people have the vision of the wealth that public relations and protocol can leave your company. The reality is that the closer you are to your clients, and the better you treat them, your projection will increase, and your reputation will grow.

4.Represent your company and the commercial links that it can create

Although, the business etiquette exists to have specific guidelines that allow you growth and the opportunity to scale your company, make the everyday details, become extraordinary, and impact attention and courtesy to target customers.

5.Projects a professional image that optimizes and favors the attraction of new clients

Furthermore, It all comes down to recruitment! Suppose your clients and current prospects perceive your professionalism and interest in selling a quality product or contributing to excellent service.  You will not only retain your loyal customers, but you will also achieve closings with your prospects.

For these five benefits and more, we must demand ourselves as a company, training in corporate etiquette.

Moreover, If we want our company to progress, we have to accelerate as successful entrepreneurs. We need our skills to reconcile, manage and maintain the client. Make them wish to carry out new transactions with our company for the treatment provided.

Drop Shipping Business

1. Generate drop shipping business ideas
2. Get a domain name
3. Build an online store
4. Make decisions about the details
5. Advertise your store

What is a drop shipping business?

It is a type of business model in which you can sell products without having them physically. Therefore, the supplier of the product will send it directly to the customer after the transaction occurs.

So how will you make a profit? You can do this by setting a markup on your prices, which means that you should keep the price higher than the provider.

So, the drop shipping mechanism is as follows:

The customer buys the goods from the retailer (drop shipper)

The retailer orders the goods from the supplier.

The supplier sends the products to the retailer.

Despite its popularity, the drop shipping business has some advantages and disadvantages to consider. These things you must know before diving into the world of drop shipping.

Advantage

In this list, we’ll show you some of the factors that make the drop shipping business so attractive:

Getting started is easy: unlike other companies that force you to follow some complex procedures and have some particular resources. Setting up an online drop shipping business requires you to have a laptop and a stable internet connection.

Low risk: the only cost you should consider is the products you will offer to the customer.

Low indirect cost: since you do not have to think about inventory costs or hire employees to take care of it. Your price will be much lower than you think.

You can sell multiple products: As a direct sender, you can choose to sell more than one supplier. It means that you can be creative about the types of products you want to offer to your customers.

Convenience – Since you conduct business through a laptop, you can work from anywhere.

Disadvantages

Although this business sounds incredibly promising, there are a few things to keep in mind before getting into the drop shipping business:

Fierce Competition: There are many people involved in the dropshipping business, so you will have to work hard to stand out.

Low-profit margins: Because you are up against many sellers, there is possibly a price war. It means that you should set your price as low as possible so that your offers are much more attractive. But you can avoid this if you can find a niche of low competition products to sell.

Supplier problems: If you choose a disreputable supplier, your business may fail. Because a lousy provider can ruin your online presence with shipping errors, insufficient packaging, and delayed responses, however, the failure will be beyond your control.

Difficult-to-manage inventory: You should frequently track your supplier’s inventory to align it with the amount of stock available in your store.

Customer service: You are the one directly connected to the customer. So if there is any problem, you should listen to the complaints patiently.

Innovate like a startup

Corporate organizations are pretty good at ‘small’ innovations based on their existing products, technologies, or markets. X detergent, now with revolutionary stain remover! Large companies are less intense at taking entirely new paths, leading to pioneering proposals and new customer groups. Why is that? And are there ways that companies can strengthen their innovative power?

I’ve always been personally surprised that a food giant like Ahold Delhaize didn’t introduce a meal box subscription much earlier. They left the development of this proposal ten years ago. Holafresco, a Berlin startup, become a global player.
I’d say Ahold had all the cards to beat HelloFresh. Knowledge, distribution, customers, and cash. Of course, it may be that Ahold deliberately lets the food box segment of the market run. However, something else may have happened, and this case also illustrates the lack of innovative capacity of Ahold and similar corporate companies.

Balance between ‘core’ and ‘future growth.’

In her new book, ‘The 10x Growth Machine’ (aff.), Start-up and innovation expert Misha de Sterke paints a picture of what can go wrong when corporate companies start to innovate, or worse: when they don’t, they do. In essence, there are three areas in which companies can focus their innovation.

Optimizing the core: limited adjustments to existing proposals within existing markets.

Renew the nucleus: adjusted or new proposals within existing markets.

Future growth: completely new proposals, within new markets.

All three variants are essential, which means that the right balance must be struck, with due attention to disruptive innovations that can ensure future growth.

Recent history shows that finding the right balance does not always work well, Kraft Heinz En. Since the merger between Kraft Foods Group and HJ Heinz Company, the new Kraft Heinz Company has focused too unilaterally on cost savings since 2015 and has forgotten to develop new products and markets. The consequence of this short-term strategy: record losses and a low share price.

Innovative skepticism

In addition to the wrong strategic choices, there are also other reasons for the failure of corporate companies’ innovation. Perhaps the biggest problem where large companies can fail is that the innovation team does not receive enough attention, resources, budget, and appreciation from the central business organization. In itself, the skepticism of the existing organization is not so strange. After all, the current business is now making money, while it remains to see which innovation projects will be profitable.

In The 10x Growth Machine, De Sterke describes a model with which companies can find the right balance between their core business and innovative projects.

What is immediately striking about De Stoke’s model is that, although the ‘cultivation machine’ of innovation gets built into the existing organization, it can also function autonomously in a sense. The growth machine is responsible within the organization for initiating, validating, and expanding innovative initiatives. They can incorporate successful projects into the existing business or continued independently (lengthen)

How do corporations innovate as a new company?

These are the five essential innovation lessons from The 10x Growth Machine book.

1. Build an innovation portfolio
2. Use a risk board
3. Measure the right things
4. Follow an innovation process
5. Create the right mindset

The system of gambling and lottery is not new to India, and Satta Matka is one of the oldest lottery forms that became popular in the 1950s. Now, with the advent of digital media and state restrictions on physical gambling, people have turned to online platforms to try out their luck and make some extra money. The Public Gamblings Act of 1857 that bans gambling is silent on online betting, making it a profitable gray area.

History of Satta Matka

After Independence, when the country was in turmoil, everyone was looking to make some extra money off their luck. Therefore, people started betting on the opening and closing rate of the imported cotton from the USA. The cotton rates were updated through the Bombay Stock Exchange, and accordingly, bets were placed.

However, when the NYSE stopped updating the shipping price, this form of gambling came to an end, and people started looking for viable alternatives. This was when the Satta Matka was born. “Satta” means a bet, and “Matka” means pot. Now, people would pick their desired number combinations and place bets on the order of appearance.

A random person would be called and asked to draw numbers from the “Matka” or the pot. Then depending upon the number of matches, the winner would be declared to take the bet money. This lottery game became so popular among the masses that between the 1970s and 1990s, a huge volume of lottery transactions took place, and the government ordered a crackdown.

This was when Ratan Khatri, a well-known “Matka King,” had started running an organized gambling network and “Satta Bazars.” If you wanted to play the lottery, you had to go to Satta bazaars and place your bets with the bookies. After the 90s, this system disappeared completely, and the Satta lottery disappeared from the market.

However, when the internet became popular and online payment platforms flourished, several stake-based games began to appear, and one of them was online Satta Matka. The ease and efficiency of placing bets online made it easier for more and more people to participate. Therefore, the prize pool also grew by a lot, and now they run over a hundred million, which have increased the winning odds.

The competition in the online betting world is constantly growing, with more and more websites with multiple pools and games coming up. Satta Matka online here gives the customers a lot of options and incentives and helps them understand the game. Many sites offer some sort of virtual coins free of cost, which can then play mock games and understand all the nuances risk-free. This facility wasn’t available in the olden days when the money placed was gone if you didn’t know the game.

How to play Satta Matka?

In Satta Matka, you get to pick up a combination of three digits from 0-9. Now, the three digits are summed together, and the last digit of the sum is taken as the fourth digit. If you choose 1,2,3, then the sum would be six, and your first final combination would look somewhat like 1,2,4,*6. Now, you will be given a chance to pick out another combination of digits. Say you pick 4,5,6; the sum of these three would be 15. Therefore, your other final combination would be 4,5,6*5. The overall digit combination would be 1,2,3,*6 X 4,5,6 * 5.

Now, you can bet on the selection and outcome. In this instance, your first selection would be six, and the second selection would be 5. The range of bets depends upon the site rules and pool money. If you place your bet on the first selection, you may end up with nine times your money.

Matka also has some crazy payouts depending upon the rarity of the combination. For example, “Jodi” is the combination of the two selections, and if you get a draw for Jodi, you may end up with 999 times your money.

How do the payouts work?

The payouts in this format are simple, you just have to put in your bank details, and the winning amount will be credited immediately. Now, several wallets have tied up with these online sites to get your payouts in these wallets if you are not comfortable giving out your bank details.

The site commission is just 5% in case you end up winning the lot. The rest of the ticket amount goes into the pool, and it is a very transparent process.

Conclusion

Lottery games are really fun and entertaining and a good way to earn some side money with minimum work. You must be aware of the financial risks involved in the lottery games and play accordingly. Always calculate the risk-reward ratio and the total loss you can bear. Knowing when to leave the game is equally important as winning. Be very calculative and analytical to minimize your risk of playing the game for a long time.

Business Model

It is an analysis tool that will allow you to know who you are, how you do it, what cost, what means, and what sources of income you will have. Defining your business model is knowing what your DNA is, how to make it, how to modify it, how to polish, how to change, how to mold

We could spend days and days rambling on the concept of ‘business model,’ but since we at Emprendedores presume to be very practical, defining your business model is knowing your business’s DNA. It is a tool that will allow you to clearly define what you are going to offer to the market, how you are going to do it, who you are, your customer, how you are going to sell it, and in what way you are going to generate income.

And why is it necessary – even vital – to define your model? It will help you know “what is going to happen and who will pay for what, when, and why. The simpler the business model, the better it works.

“An accepted definition is – says Javier Megías, an expert in strategy and business models – how a company creates, develops, and captures value. But this is very ethereal. In the end, the business model is a vision, a set of everything that is your business”.

For Joan Riera, professor at Esade Business School and CEO of Active Development, the business model is like the pillars of the future business: “They are the foundations. If you are going to build a building, which would be your business, you define where the columns go. That is why the business model is critical to think about before launching an idea on the market. Many entrepreneurs start with the business plan without having thought through their model.

Much more than income

Earning money – generating income – would be the consequence of the process. It is necessary to define and fit a whole series of pieces (which we will see later). “The key questions that any business should know how to answer are: who is my customer? How and what am I offering to the market? And how am I going to make it sustainable over time?” says Joan Riera.

Designing a business model is valid for start-up entrepreneurs and established companies. After drawing and structuring it, you must test it by changing some pieces and seeing how everything behaves,” recommends Riera, who adds.

How many clients pay you?

Thus, to validate all the hypotheses on which you are building your business model, the idea is to go down to the market, that is, talk with clients to find out what they think, with experts in the market in which you are going to operate, etc. “Although the best test to know if it works is to have clients who pay you, because, in the end, an investor is going to ask you how many clients you have who pay you,” says Riera.

For Megías, who defends the idea of ​​executing the business model as soon as possible to see if it works, “the entrepreneur must design his minimum viable product to teach customers and give him feedback. And the keyword is the customer because it is perfect that you think or predict that they will like your product, but the reality is that the one who has to say good or bad is your customer”.

Customer and product

One of the critical questions is, do I build products for my clients, or do I seek clients for my product? “When you are a large company, you know who your customer is, you know him, and you design products for him. When you are an entrepreneur, you have no idea who your client is. You imagine it at best. I always recommend entrepreneurs build a product that they think is good for their clients and seek their product. If you have searched and have not found, obviously your solution did not make sense”, says Megías.

This expert believes that any entrepreneur’s mantra should be to bring their product to market soon: “Try it fast and fail fast and cheap. How do you manage to validate your business model? Not because a client tells you that your product is interesting and that it meets their needs. The only way for a customer to validate your business model is by purchasing your product. Many entrepreneurs are wrong to think that because they have created a beta or are offering it at a ridiculous price, and some customers have told them that they liked it, their product is fine. But that is a mistake because it is not a qualified opinion. How could you not like something free; It would have to be very bad for him not to like it!”.

How to keep your workplace safe

Health and safety actions in the workplace are essential for both employers and employees’ well-being. As an employer, you have a legal accountability to provide a safe and secure work environment.

Hazardous working conditions put your workers at risk and reduce productivity and engagement. If your employees know that they safe against any unforeseen event or accident, they will feel safer and work more efficiently. As a result, the productivity of your SME could increase dramatically.

Why is safety in the workplace so important?

Occupational risk prevention is a factor that every company must consider in its policies, regardless of the activity in which it is engaged. Make sure that your employees work in an environment where they can safely and appropriately carry out their actions should be a company priority. Maintaining safe working conditions is of great importance because it protects your employees’ physical integrity and psychological and emotional.

As an entrepreneur, you can delegate some aspects of workplace safety, but you should monitor the process to ensure that everyone seriously treats the matter.

To avoid and take care of your employees from occupational hazards, you must carry out safety assessments in the workplace and control all possible threats related to your SME production process.

Steps to ensure safety at work

Carry out risk assessments. The first thing to improve workplace safety is to identify potential risks and problems. After that, you must implement sensible measures to control the risks and prevent any harm.

Create a checklist to analyze potential hazards. Make lists to ensure that all relevant issues get formulated and discussed and encourage a creative approach to risk assessment. The strategy needs to be continuously reviewed and updated.

Create a workplace health and safety plan. The company must make an initial evaluation and plan for the medium and long term. The assessment should establish common risks for all jobs (general review) and those specific to each task (assessment by job position). If you have different work centers, you must evaluate and plan for each of them.

A workplace safety plan should contain the following elements:

Objective: what is the procedure.

Scope: must include activities, processes, and jobs that will be affected.

Periodicity: the frequency with which the procedure  (monthly, every six months, when hiring new workers, etc.).

Responsibility: the positions that will involve in carrying out the preventive action.

Methodology to follow the act: make reference to the procedures already available (provided by the prevention service or other sources).

Resources: You must quantify economic resources (cost of third-party prevention services, equipment acquisition, hours invested in staff training), materials (resources such as computers, meeting rooms or training to be used), and human (hours dedication of those responsible for the coordination and those accountable for the management, the commitment of managers to verify security conditions, etc.).

Customer Relationship Management (CRM)

(CRM) stands for Customer Relationship Management; according to Gartner’s research, CRM took most of the software market revenue in 2017. For 2019 and 2020, the organization also predicts that CRM’s percentage of investment will increase exponentially. Why do companies choose to invest in client management software? For what type of company is it interesting? How do you start a CRM implementation?

What does the term Customer Relationship Management (CRM) understand?

(CRM) focuses on storing, analyzing, and using all relevant customer information. Most relevant customer information naturally depends on the type of company and customers. In some companies, it consists of maintaining a structure of the contact details or the actions carried out with customers. Other companies require having more advanced functionalities and business intelligence (BI) within the CRM to understand the customer well.

The vast number of customer relationship management strategies and packages makes it difficult for companies to decide which one is the best fit for their business. Therefore, we find a comparison of the different existing systems in the CRM Guide.a Free CRM software that helps you generate leads via different channels. It lets you integrate customizable CRM webforms. With this information, you can check which method is best suited to the needs of your company.

What possibilities and functionalities does a CRM system offer?

The implementation of a CRM system can offer some significant advantages to a company. However, these advantages are not always very relevant. Therefore, when selecting a plan, you must check whether the investment is worth it. That is, you must calculate what the return on investment (ROI) will be. Companies that decide to invest in a customer relationship management package do so for (one of) the following reasons:

A single point of information for Customer Service

Customers are increasingly demanding when it comes to hiring a competitive service. A company that can quickly and effectively resolve doubts or problems get an immediate advantage over the competition. For this reason, companies want to remedy or prevent customer information from being distribute among different systems and people. When all customer information, such as placed orders, past communications, opinions, and customer meeting minutes are in one place, this also ensures a consistent and consistent customer experience. Of course, employees can see what a colleague has discussed with the customer in the previous contact.

Optimizing customer contact is also essential for B2B relationships. In this case, there is often even more at stake. A break in trust with a business partner usually means the end of the collaboration between both parties.

Customer loyalty get promoted

An investigation indicates that the priority of commercial companies should be in the retention of existing customers. A lasting customer relationship results in more customer purchases and requires less investment of effort and capital. A consistent connection is also essential for companies that do not have traditional clients but members. After all, a stable member base ensures a much smoother business management than new members’ continuous connection. In this way, time and money get save.

Introduction

When it comes to running a business, there are a huge number of things to manage and consider on your road to success.

However, with so much to think about, it can be difficult to give each area the attention it needs. Whether you’re just starting out or your brand is fully established, it’s the people who work for your business that really need your undivided attention. If you’ve noticed that staff are quitting and you have a high employee turnover, below are a few reasons why that could be.

But don’t worry, there’s also huge number of solutions to help you and your staff feel better about work.

Why are my staff leaving?

1. Poor leadership

For any business to succeed and run smoothly, there needs to be someone leading the tribe. If you’re a relatively new business, that leader is likely you. For those who are a little more established, you may have other managers in place that should be helping you attend to your staff and keeping everyone happy.

Solution: Give extra training to managers

Whether you’re the only manager or you have a team of management staff behind you, it’s clear that something isn’t quite working in the current set up.

Managers need to be ensuring that staff are not only as efficient and productive as possible, but also happy in their current situation, with plans in place for progression if that’s their end goal. If your staff are leaving and you’re not sure why, it’s certainly worth having a discussion with them and their manager to see if there are any obvious reasons.

It might be worth looking into HR services Salt Lake City to help with the discussion process, as staff may feel more comfortable discussing things about management with a more impartial team.

If it’s clear that management seems to be the reason for high staff turnover, it’s time to invest in some leadership training. Training will help managers to communicate with people correctly, help with objective setting and how to create structured performance assessments. That way, your managers will be actually equipped to manage their teams in a positive and productive way.

2. No job security or progression

As we spend almost a third of our lives at work, most people will want to know that their hard work can lead to better things. Progression plans can give staff the motivation to keep going, even on the tough days,as there is reward and promotion in sight. Without this, most people will struggle to see any reason to maintain productivity or put their full effort into the work.

Similarly, if staff don’t have job security, their eyes may wander to other potential roles – leaving you with a skills gap and a less than appealing job to fill. Especially after recent events, people are looking for job security to know that their finances and lifestyle are certain in the future.

Solution: Invest in your staff

If for some reason you can’t provide your staff a secure contract, there are plenty of other ways to invest in your staff’s future. You could offer to pay for training courses or qualifications that will help both you and them or even send them to conferences to network.

As for career progression, all staff should have 1-to-1 meetings with their managers to create goals and discuss expectations. When goals are met, these should be acknowledged with additional responsibilities, promotions, a pay rise or bonus.

Also Read: The key to studying from home – establishing study habits and routines

3. Low salaries

There may be nothing wrong with the work or management in your business. It might simply be that staff can find better salaries for the same work elsewhere. Of course, businesses can offer more to staff than just high salaries – such as a better work life balance, social activities and work perks – but if someone is struggling financially, none of these bonuses pay the bills.

When staff are feeling overworked, underpaid or unappreciated, they’re much more likely to look elsewhere.

Solution: Offer competitive salaries and other benefits

Understanding the current market value of certain skills is a good way to ensure you’re paying staff the salaries they deserve and more importantly, the salaries they can earn elsewhere. However, there are also other work perks that can soften the blow of a low salary. Such as offering free childcare to families, or investing in staff education if there’s something they’d like a pursue.

4. The job didn’t suit the person

Sometimes, an employee finds themselves struggling with a role or simply not feeling like the right fit for the job. That’s completely acceptable and is somewhat inevitable without the right recruitment plan in place.

For some, the work might be perfect, but the working environment and their colleagues might be the issue. People should always be encouraged to do what’s right for them and that will sometimes mean leaving a job to find something better fitting.

Solution: Enhance your recruitment process

Finding the right employee for the job can be difficult – especially when factoring in the losses your business might make while the position is vacant. It can sometimes feel better to simply find someone to fill the role, rather than taking time to find the right person.

However, enhancing and improving the recruitment process will help with staff retention and save you money in the long run.

When interviewing a potential employee, don’t just think about their skillset; think about how they might fit into the current workforce and workplace culture. It’s also worth not just looking at qualifications. As sometimes those without a degree or qualification actually have more experience or knowledge to offer.

Not every resignation will be a direct reflection on your company from an Employee. There are endless reasons why someone may look for work elsewhere or hand in their notice. However, as shown above, there are plenty of ways you can look to improve your workplace culture in order to give staff more reason to stay. Sometimes these things just take thinking outside the box to find the perfect solution that was right under your nose all along.