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6 Helpful tips to power up your home-based business

While all good things don’t happen overnight, small business owners can carefully craft their own strategies to make sure of their path to success.

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Building a business from the ground up, during a pandemic era, no less is definitely challenging. But sustaining it is a more complicated feat. While all good things don’t happen overnight, small business owners can carefully craft their own strategies to make sure of their path to success.

Here are some helpful tips to grow your business and reach more customers.

1. Power up your business with the right internet connection.

Building your business from home requires a consistent and reliable internet connection. A study conducted by the Philippines’ leading fiber internet service provider, Converge ICT Solutions Inc., showed that 26.7% of subscribers from its consumer segment are online sellers.

Nearly seven out of 10 of these online sellers do not have business permits, while the remaining 31.3% have business permits and consider themselves as micro-businesses. However, both segments of online sellers only subscribe to residential plans.

Choosing the right internet for your home business is important. There is definitely no problem with subscribing to residential internet plans, but as you grow your business, you might notice that this would not be enough. This is why Converge offers various plans, both for consumers and businesses, to empower customers to choose the right plan for them.

2. Always improve and focus on your product.

Ensuring that your customers trust and enjoy your products should always be a top priority. By constantly improving your product, you are making sure that your customers get the best value of their money. In the long run, this will translate into brand loyalty and conversion of more customers. 

3. Listen to your customers.

When you make improvements to your product, be it for new features or for existing ones, be sure that it is aligned with the interests of your customers. Equip yourself with the latest trends, customer feedback, reviews and other suggestions from your community of clients. Always remember that your products are for them, and not for the business alone.

4. Know your competitors.

While maintaining a quality product is always crucial, there are always other factors that might encourage your customers to switch to other brands. Thus, it won’t hurt to monitor your competitors and study the features, price points, promos and other selling points that they offer. Knowing your competitors will put you in an advantage to position your product in the market.

5. Form the right team.

You can’t do all of this alone. Getting the right people in your team will make everything easier, and even happier, for business owners. Having a more collaborative culture within your team will help with the growth of your business. Just make sure that aside from skills, your team members are also equipped with dedication and passion to grow your business.

6. Invest in your social media presence.

In this digital age, a more complicated business battle resides in social media. This is where you should take your brand, and allow for an efficient brand-building process. You can also maximize social media to create narratives and conversations about your business, which can also help you develop a good relationship with your customers.

To fully take advantage of your social media power, you will circle back to the advice of having a good and reliable internet connection. Converge can help you achieve all this through the power of a pure, end-to-end fiber internet experience.

To learn more about Converge plans and offerings, visit https://www.convergeict.com.

BizNews

Cultivating relationships with former employees important – study

One of the biggest mistakes employers make is not supporting workers on their way out, and then turning around and saying they want to stay in touch.

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For many people, leaving a job can be like leaving a family — and because of the personal and professional bonds they’ve forged, many naturally stay in touch with their former coworkers and keep apprised of what’s happening in the organization.

But what happens when companies make a concerted effort to bolster those bonds, help former employees in their careers and keep them in the loop? According to new research from the UBC Sauder School of Business, it can have big benefits for both employees and employers.

For the paper, researchers studied a wide range of businesses — from top law firms to Starbucks — to understand why organizations are putting time and resources into solidifying ties with ex-employees, also known as alumni.

The researchers propose that alumni-organization relationships (AORs) are particularly important to companies because alumni have a unique mix of insider knowledge and outside-world information and contacts. This can be valuable if employees return as contractors, or move on to companies that might do business with their former employer. Companies can also gain a boost to branding and reputation because maintaining these relationships shows they support employees even after they move on.

“Traditionally, AORs were most common in professional service firms. But as it becomes more common for workers to job hop over the course of their career, we are seeing more organizations investing in relationships with alumni,” said UBC Sauder assistant professor Dr. Rebecca Paluch.

For some organizations, AORs help generate new business. Many law firms support AORs because junior lawyers move on and end up in general counsel roles new organizations. If they need to hire outside counsel, the continuing relationship with their former employer may encourage them to hire that firm.

Companies like Starbucks appreciate the fact that AORs boost their brand image in the community. “They call all of their stores ‘third communities’ because they want to make people feel welcome and like they’re part of something when they visit the stores,” said Dr. Paluch, who co-authored the study with Dr. Christopher Zatzick of Simon Fraser University and Dr. Lisa Nishii of Cornell University. “AORs are in line with the overall branding of building community and keeping people connected.”

Programs that support AORs can offer a variety of benefits to alumni, including newsletters and updates about alumni and the company, career resources, job boards, training and development opportunities and in-person networking.

One of the primary challenges in forming AORs is there is no set playbook, said Dr. Paluch. There are established norms for employee management when it comes to practices like hiring, compensation and benefits, but standard practices don’t exist for managing relationships with alumni after they move on.

In order to develop successful AORs, organizations need to think about their outreach to alumni through broad communication with a wide-range of alumni as well as strategically target alumni who can bring back the most value to the company. It’s also important to encourage current employees to stay in contact with alumni so they can help bring knowledge and resources back into the organization.

The most successful programs, she adds, involve input from former workers. “It’s important to make sure the organization is getting alumni feedback so they’re meeting their needs and not just offering things because some other company is doing it,” advised Dr. Paluch.

One of the biggest mistakes employers make is not supporting workers on their way out, and then turning around and saying they want to stay in touch. “If employees are having terrible exit experiences, then it shouldn’t be surprising if they don’t want to stay in touch after they leave.”

The idea of cultivating relationships between alumni and organizations might seem counterintuitive because it can make leaving more palatable, said Dr. Paluch. But savvy companies realize today’s workers are highly mobile, so it makes sense to keep a positive relationship even after they’re gone.

“We’ve been seeing tenure decline over the past few decades, and most employees move on to a new company after four or five years,” said Dr. Paluch. “Strategically, organizations might as well consider, ‘If we can’t keep them in the organization, how can we at least keep them connected to the organization?’”

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Strategies

Top tips to help businesses prepare for spring

Here are steps for businesses to ensure their readiness for this spring.

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QBE North America is sharing best practices to help businesses navigate the potential challenges ahead. With a season expected to alternate between late snowfalls and severe weather events, businesses must be well-prepared for a range of weather-related risks.  

“As we transition from the colder months into a notably unpredictable spring season, businesses need to recognize potential risks and strengthen their preparedness,” said Ted Cabaniss, AVP, Field Surveying, QBE North America. “Effective planning and preparedness are key to mitigating potential disruptions and accelerating recovery efforts in the face of adverse weather events.”

QBE North America recommends the following steps for businesses to ensure their readiness for this spring:

Plan

  • Ensure access to and clearly mark all utility shut-off valves (e.g., water, sprinkler, gas, etc.) and know when and how to use them.
  • Reassess and update your business continuity strategies to include alternate suppliers for a swift recovery from potential disruptions.
  • Create an emergency plan and conduct regular drills of the plan with all team members.

Inspect and Maintain

  • Schedule comprehensive fleet maintenance service checks on company vehicles, including brake systems, wiper blades, tire pressure and oil levels and filters.
  • Evaluate and prune trees and landscaping to mitigate risk of damage to structures and/or power supply.
  • Inspect plumbing and pipes for signs of wear or damage to prevent water leaks.
  • Assess walkways, ramps and outdoor spaces for any damage and address as needed.
  • Perform maintenance on any electrical systems, including backup generators and exterior lighting.
  • For facilities with recreational areas, ensure all equipment is safe and operational.
  • Verify the functionality of sump pumps and water removal systems.
  • Conduct a thorough test of fire safety and security systems.

Clean

  • Remove accumulated clutter and debris inside and around the exterior of the property.
  • Safely dispose of unused flammable materials and ensure proper storage of necessary chemicals.
  • Clear and clean gutters, surface drains and grates and conduct a roof inspection of roof drains and HVAC condensate lines.
  • Address any landscape erosion and/or modifications needed to maintain effective drainage.
  • Maintain air quality by cleaning or replacing HVAC filters and ensuring systems are professionally serviced.
  • Organize and store winter equipment and properly secure flammable materials.

In the aftermath of property damage, prompt and efficient actions can help businesses address the issues quickly and safeguard against further harm. Here are tips from QBE if a disaster were to occur:

Respond

  • Conduct a damage assessment as soon as the area is safe to enter.
  • Inspect all fire safety systems, including sprinklers, fire extinguishers and related components, for any signs of physical damage.
  • Document the extent of the damage using photos and/or videos and secure any damaged parts/equipment for examination before initiating any cleanup efforts, restoration or repairs.
  • Ensure damaged equipment is properly cleaned and dried and have its electrical integrity professionally assessed.
  • Arrange for a certified technician to inspect and service heating and cooling systems before they are reactivated.
  • Exercise caution when using portable or emergency generators and avoid locations near air intakes. Monitor for carbon monoxide buildup, power backfeeds and improper fueling.

“Unforeseen losses can occur despite the best preparations,” said Monique McQueen, VP, Property Claims, QBE North America. “Check in with your insurer to review your insurance policy and discuss any operational, property and/or workforce changes to ensure you have the right coverage.”

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Strategies

5 Handy ways to jumpstart productivity in your workspace

Set up a workspace that lets you explore your passion with these tips.

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Designing a project workspace can take your creativity to new heights. Whether you’re into woodworking, metalworking, building models or repairing bikes or tools like chainsaws, having the right space allows you to focus on creating and enjoying each project to the fullest.

Completing a job to your satisfaction requires the right tools, equipment and resources to get the job done. Set up a workspace that lets you explore your passion with these tips from the DIY pros at Work IQ Tools:

Identify your needs. 

Every project comes with a unique set of tools and requirements for success. Make a list so you can ensure you account for every detail.

  • Determine if a large, flat workspace is required or floor space is better suited.
  • Balance comfort and craftsmanship by choosing a stable chair or rolling chair or decide if working on your feet is more practical.
  • Decide exactly how much space you realistically need.
  • Assess your access to adequate power sources.
  • If you’re using paints and varnish or other odorous substances, ensure there’s proper ventilation.

Invest in the right equipment. Having the right tools allows you to work faster, easier and smarter. Incorporating a solution like the IQ Vise System is like having a built-in problem solver with smart features that improve functionality and capability. The vise features a ball and socket design that allows articulation and 360-degree rotation at any angle for optimal work positioning while complementing task-specific jaws are crafted to create the perfect grip for an extensive range of shapes and materials.

Plan for storage. 

Keeping all your parts and pieces neatly organized means they remain in good condition until you need them, and you can find what you’re looking for easily. When you’re planning your storage needs, think about the space you need at every stage, including how you’ll protect a project that is in progress when you step away from your workspace.

Light it up. 

A well-lit workspace gives you the visibility you need to complete each project to your satisfaction. Overhead lights rarely do the trick for hands-on work, so plan to add task lamps to your work area. Look for models with features that match your hobby needs, such as dimming capabilities and goose necks that allow you to position the lights just right.

Remember safety. 

Different projects require distinct protective gear, but virtually all DIYers can benefit from some basic safety precautions. At the least, keep a first aid kit handy for nicks and cuts, but also consider safety glasses, gloves, ear protection and other gear that can help protect you while you work.

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