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What advertising avenue is best for you?

Posted on February 21, 2019 by admin

Without exposure, businesses would come and go very quickly. In this new digital age, there are even more options for how you want to advertise your business. There are a variety of resources, all priced differently so you can pay as much as you want or nothing at all. You will need to be aware of your target audience and what form of media would they consume the most. Traditional Media: Traditional media most commonly refers to print, radio or television advertising. Ads in magazines, newspapers, on the radio and the television, are how you would target an older audience. To optimise this advertising medium, have your ads displayed prominently or played at peak times. New Media: New media refers to the internet and the various avenues on which you can advertise. Like traditional media, you can by ad space to appear on Google or other pages. Again this is monetarily based. The audience on social media, in particular, is younger and many services, such as Facebook, Twitter and Instagram, offer free business models that highlight all your relevant information for public consumption. Local Advertising: On a smaller scale, physical advertising in your area can boost visibility. Flyers or business […]

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Creating a positive business culture

Posted on February 14, 2019 by admin

Business culture is a reflection of what your company stands for, it’s your voice. Employee relations are what establishes this voice and can always be improved. A work environment that everyone enjoys can help to improve performance and productivity. Here are some ways you can help better the culture of your business Vision:For a business culture to be established, as the employer you must first decide what that voice will be. Having a clear direction for your business practices is common but for community in the office, a vision for your business culture will help the process. It is your job to help guide your company toward your vision in every aspect of the business. Lead by example:Often business owners can be separated from the general culture of the workplace. It is important to show you adopt the values and productivity levels you are expecting of your employees. Integration on this level helps to establish what you expect out of the business and its everyday processes. Communication:One of the most obvious points is communication, it is essential in running a business. Good communication is not only needed for basic tasks and management but also key to creating your business culture. […]

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What we can learn from ‘introverted’ people

Posted on February 7, 2019 by admin

Most of us fall somewhere in between the introvert-extrovert spectrum but our concept of a great leader often looks to someone who exudes characteristics we often associate with ‘extroverts’ – including being charismatic, confident, and courageous. While these traits are indeed admirable and can be essential to motivate and drive your team, recent research surprisingly suggests ‘introverts’ tend to be better CEOs. In light of this research, we look at some often overlooked traits to expand your concept of great business leadership. Taking the time to be introspective:Ensure you don’t underestimate the value of taking the time to self-reflect on certain issues, looking inward for inspiration and judiciously asking in-depth questions to better understand your organisation. Forming and maintaining deeper connections:In the age of Linkedin and the increase of networking events, growing your professional network is often a focus of many business professionals. When taking into consideration the notion that humans can only maintain about 150 stable relationships at any given time (Dunbar’s Number), you can consider the value of holding more small-scale events or arranging more one-on-one engagements to better utilise your professional network. Identifying and accommodating for ‘introverted’ behaviour in the workplace:While it often ‘takes one to know […]

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Instagram for business

Posted on January 31, 2019 by admin

Instagram business accounts help you reach new clients and companies that you wouldn’t be able to on other social media. It is an area of the market often overlooked due to its focus on an image but now is the time to utilize Instagram for your business and grow a profile in a fairly untapped area. Why use Instagram?Graphics and quotes are an easy way to engage with users and using hashtags help you to reach people who don’t follow you yet. The news feed algorithm favours active business accounts and suggests similar accounts for you to follow or see how they use the platform. Business Profile:The analytics feature alone is enough to entice businesses to the platform as it gives you insights into your follower base, interactions, peak posting times and paid advertising options. You can boost a post to reach more than just your followers and find new clients based on shared likes or similar accounts followed. A business profile is completely free and all paid advertising is optional though encouraged to get the most out of the platform. Instagram Advertising:One of the benefits of Instagram advertising is that it seamlessly blends into a news feed. Many ads […]

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Effective Team Performance

Posted on January 24, 2019 by admin

Teams, like workplaces, are becoming increasingly diverse, dynamic and digital. But the principle behind managing teams effectively remains the same. Are you providing the right conditions for your team to thrive? Here are some aspects to consider: Shared DirectionA shared understanding of the team’s mission and tasks is essential to a team’s level of commitment and motivation. This is especially crucial when teams are made up of members from dissimilar backgrounds as the means for reaching the same goal can mean for different strategies for different people. External SupportSupporting your team involves providing and maintaining an effective reward system, ensuring your team has access to the required materials and data to complete their tasks, and providing opportunities to expand their skillset if required. Team structureConstructing a high performing team requires a careful balance of meeting both organisational and individual needs. A recent study has found that more-cohesive teams had members with higher levels of emotional stability, inquisitiveness, and interpersonal sensitivity. Managers often utilise an employee’s strengths to fill a team role, but taking the time to observe your employee’s working style and personality can mean for a fresher approach to the way the team can think about, manage, and organise […]

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Challenging the use of country as a proxy for culture

Posted on January 18, 2019 by admin

Associating certain behaviours to different countries have long been a way of identifying and comparing cultures and widely assumes country homogeneity. For example, previous studies on national culture have compared vastly different working styles between East-Asian countries and the West. However, a recent study published on Havard Business Review found that equating country with culture can overlook even bigger cultural gaps within a single country – including those of age, gender, number of years of education, socio-economic status, and occupation. That is, it could make more sense to talk about cultures of age and cultures of the rich or poor than it is to discuss the cultures of countries.

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Hiring high potential staff

Posted on December 20, 2018 by admin

Your business is only as good as your staff, which is why you want to hire high potential employees. You may find it hard to spot a high potential candidate in an interview. Our tips will tell you what to look for and ask when you are recruiting. High potential employee traitsA common set of characteristics can identify high potential employees. These candidates will: Have leadership qualities Take on extra responsibility Be team players Think outside the box Solve problems Have a passion for their industry Spotting high potential employees in an interviewIn an interview, you can identify an employee with these high potential traits by: Asking about their goals, to assess ambition Asking about industry current events, to see if they are passionate about this area of work Listening to the questions they ask you, to judge their interest in the position Asking about prior challenges they overcame, to provide you with evidence of their problem-solving skills

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How small business can compete with major corporations

Posted on December 7, 2018 by admin

Small businesses should not feel intimidated by their corporate competitors as they have many unique advantages that can help them gain a sizeable market share. Small business owners should focus on specific areas, so they can go head-to-head with large companies with more resources. Customer serviceSmall businesses have the opportunity to build a stronger relationship with their customers through the delivery of friendly and personal customer service. Businesses that provide superior customer service to their corporate competitors will build a loyal customer base and grow their business through word of mouth. Tap into niche marketsSmall business owners are directly involved with their customers, which means they have a greater insight into what their customer base values. Take advantage of this by innovating more quickly than corporations, whose decision-making processes are slower. You may provide a service that corporations cannot feasibly implement. Build a strong staffThe expansive corporate chain of command is far more likely to have a weak link than a small business. Small businesses have greater quality control over the selection of their staff and the standards and expectations of performance. Build a competent team that outperforms your corporate competitors.

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Mental health tips for small business owners

Posted on November 29, 2018 by admin

Small business owners are constantly under stress and pressure, which is why it is important they look after their mental health. The following tips will help you manage your mental health as a small business owner. Have a reliable support networkFriends and family are vital to anyone’s functioning; however the unique challenges small business owners face means they may benefit from connecting with like-minded thinkers. Consider joining a small business owners groups on Facebook or LinkedIn. These networks are helpful as the members can relate to your problems on a deeper level. Both business groups and your nearest and dearest can provide a sympathetic ear, realistic solutions to your problems and tell you to get help. Allocate personal timeWhen you are running a small business, it can feel like your life is consumed by it. An unhealthy work-life balance will harm your mental health and productivity. Schedule time off from work. Taking up a hobby or joining a sports team may be a great way to have structured breaks from your business. Know the warning signsKnowledge is key to prevention. Get educated on mental health and know the warning signs and symptoms. If you catch your problem early, you can […]

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Benefits and problems of niche marketing

Posted on November 26, 2018 by admin

Business owners thinking about specialising their products and services to target a niche market should know the benefits and risks of this business strategy. Niche marketing is the business strategy of targeting a specific subset of a market. Here are some benefits and problems of niche marketing that will help you build a business strategy right for you. BenefitsNiche marketing can provide the following benefits: Less competition as the base of interested customers is narrowed Increase brand loyalty as you are providing goods or services difficult to find and customers are more likely to return to invest Gain a higher profile among the interested customer base as the target market and competition is small, more people are likely to know your business name ProblemsHowever, niche marketing has its pitfalls you should know before you specialise: The smaller market makes growth difficult as there is not a large customer demand You increase the risk of your business failing if there is a disruption to your niche market, for example, if a larger company joins the competition or the good or service you provide becomes obsolete due to innovation

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