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Business strategy

It has already been a rough year for business owners, and we’re only at the halfway point. Brexit shocked the economy across the globe, and it wasn’t just British companies that took the hit. Every business owner braced themselves as the pound took a hit and economy tumbled down with it. That situation still hasn’t been resolved, and while it has stabilised, it could still have a greater effect. Particularly, after Britain officially leaves the EU, which may not be until 2021. Meanwhile, a recent report has revealed just how many employees receive basic benefits. Around seventy percent of employees in America alone do not receive health care. It’s no wonder that companies are inundated every year with injury claims. Without winning in court, it seems many wouldn’t get the money they need when they’re off work.

Then, there is the growth of other economies. Both China and India are growing at a rapid rate with new businesses opening up every day. In India, entire cities are being built up for business and will be active on the global market by the end of the year. This means a fresh dose of competition for companies that have already been established. New companies are almost always setup to run online. This means continued trouble for high street shop owners. Online companies can cheapen their costs and therefore sell at a lower price. These are just some of the issues that businesses are facing this year. However, it’s pointless to look at the problems, unless we can start to consider the solutions.

Increasing Competition

In many ways, increased competition from international businesses isn’t a problem. In fact, for the consumer, it’s good news. They can get the same product at a lower price, hopefully, made to the same quality. It also pushes other businesses to step up their game and deliver a better service to their customers. These are the advantages, so what are the disadvantages?

Well, firstly, it does create what is essentially a tilted playing field. Particularly when you consider that a lot of new international businesses are setting up where labour and tax laws are more lenient. China, for instance, have little to no laws preventing the use of cheap child labour. This is always going to make a manufacturing business cheaper to run. Ethically, the situation is questionable, but there is no doubt this practice does cut down costs. It is one of the reasons why Western companies are moving to countries like China. Then there are the tax laws that give companies incentives to set up in the first place. Both these facts make it more difficult for older companies to stay competitive.

They have to find other ways to cut costs. There are solutions to this problem, though. Businesses need to focus on how to make their companies more efficient. One possibility is to use outsourcing services. By investing in outsourcing services, companies can get rid of expensive costs in their model. Instead, another business takes on this cost for them. This makes the overall expense of the company a lot cheaper. There are countless services that can be outsourced in business from fully managed IT to legal services. Smaller companies can then be just as effective as bigger businesses with the same level of costs.

Businesses, may also want to look into advantages they have that other companies do not. A lot of international companies can not afford to invest in the latest tech and hardware. However, businesses that have already been stabilised can. This new tech makes these businesses a more powerful force on the market. They can improve their efficiency levels and make sure that their business is more productive.

Another advantage these businesses have is the access to skilled workers. Any economist will tell you that they key to a successful company is often hiring the right employees. With the right workers, you can guarantee you have the knowledge and the skill you need to make sure your company comes out on top.

Changing Dynamics

Recently, there has been a shift in the relationship between the business and the consumer. In the past, it was easy to keep business operations away from the interest of the customer. Now, customers and clients want to know everything about how businesses operate. They want to understand the production methods and connect with the people behind the business. Essentially, they want companies to engage with them in a more personal way than they had previously. This is putting pressure on businesses because a lot of companies are already doing this. They are connecting with their customers and making sure they feel more involved in the process. Marketing has become a far more interactive experience.

New and old businesses need to be doing this if they want to keep the interest of customers. One possibility to start considering is using social media to connect. Through social media, companies can easily interact with customers through technology. They can send updates, ask questions and provide customer services. They can even use it as a form of simple yet effective viral marketing. Even companies that don’t operate online should be using these types of resources. It is the only way to keep the interest of the customers.

Of course one of the current major problems has nothing to do with competition or customers. Rather, it is entirely based on the actions and decisions of employees. In particular, almost every business is dealing with the issue of premises liability. Premises liability is essentially a duty of care to employees in business. If an employee is injured, the business owner is held directly responsible. As such, they or their company can be sued for damages in the event of an accident. This is one of the reasons why it’s important have full insurance in place for your business. That way, if a claim is made, it should be partially covered by your insurance.

Recently, however, businesses are struggling to stay afloat in a sea of countless claims. This is why companies are working hard to make their properties safer than ever. It often costs money to ensure that safety levels are kept at a constant high. It is worth it to prevent an expensive lawsuit hitting a business fresh on the market. For a new company, an expensive PI claim could be a death sentence.

Due to the new level of engagement between companies and customers, there is a chance for public perception to be more damaging. An example would be the issue of the green company. In many ways, it is beneficial for businesses to go green. In particular, it will cut their energy costs right down, thus making their business more efficient. Unfortunately, that doesn’t change the fact that the fixed costs of making a business green are expensive. For some companies, they are too high to handle. Yet, customers are now more aware of which companies are green and which aren’t. Many businesses might be more inclined to use companies that are less environmentally damaging. That’s why last year when the car pollution controversy exploded many brands stock prices took a tumble. Public perception is a powerful force in almost every major industry.

One reason for this is the increased reliance of views online. Almost every major business is reviewed online by the buying public. You may not think that one bad review of your business is going to make a difference. However, those bad reviews build up and could earn your company a negative rating. At that point, it may stop new customers buying from your business. This doesn’t mean that companies should avoid reviews online. Quite the opposite. Businesses need to be aware of the power these reviewers have. The worst thing that a business could do is ignore them completely. You need to do your best to reconcile with these customers. Although be aware, many people use these reviews in the hope of getting free benefits from a company.

Fluctuating Demand

If you are setting up a new business this year, it would be a mistake to believe that you can rely on a constant wave of demand. This is not how the market works, and a number of new businesses are learning this lesson the hard way. In particular, if the economy takes a turn for the worse, fewer people are buying. This is a particularly challenging problem for companies that sell what could be classed as luxury products. In this case, many customers are unlikely to buy at all. Even loyal clients may cease to make purchases during times of economic turmoil. This is why constant cost cutting is so important. You need to make sure that you do not raise your costs to the point where you won’t make a profit if demand decreases. When you run a business, it’s always best to hope for the best and prepare for the worse.

It’s clear that businesses will face a lot of issues on the market this year. But with the right strategies in place, they can overcome them.

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Student @ Advanced Digital Sciences Center, Singapore. Travelled to 30+ countries, passion for basketball.

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Business

Branding Basics – Quick Tips

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branding tips

Automated social media, a virtual assistant who can do three jobs at once, traffic continually coming in for your business. These are amazing things. When it all comes down to it, your branding is the key to making sure all of these things happen. Your branding will help people recognise you, and your work. 

When your branding is right, it will give people the impression they can trust you, and people who have worked with you already, or made a purchase from you are likely to return.

So what is branding? Branding is basically your name, symbol, design, and the colours you choose. And then it extends to the tone of voice you use, your email signature, and how you communicate on social media. 

It is a representation of everything your company is And will become recognisable as such. Good branding is vital for any business to succeed. It is how you will become known to consumers, and this is how you will build loyalty too.

Style

Most people have an idea in mind for the style already. And we are lucky to have access to a lot of tools to help us create something that works in our budget. And at a skill level. Of course, what you want to do ideally is head to a professional to help you create the initial logos and colour pallets. 

It is often the case that we don’t have the budget to do this initially, but you can use tools like Canva and PicMonkey to help you create the basis for all of your branding. Just make sure you try a few different colour combinations before settling on anything in particular. 

Try to use the psychology of colour to help you get it right.

Vision

Your vision for your company is going to be the driving force behind your branding. This is applicable to a blog, you as a person, and influencer, a business-whatever it is. Your brand vision will be a combination of all the ideas, strengths, goals, and it will appeal to your customers too.

Clarity

While there is always space for a beautifully delicate, swirly handwritten font- but can everyone read it? If you decided on a pale yellow geometric dear for example, how is it going to look in print and how is it going to look online? 

You need to make sure that everything is as clear as possible on all of the platforms before you drive into getting anything made. And you should make sure that the font that you use is mobile compatible, and this should translate to printed materials too. 

For example, when you are getting your promotional items printed from Dynamic Gift, you’ll need to make sure that everything is crystal clear.

Consistency

You will need to make sure that your logo and tagline are on everything from your social media to pay but invoices. You need to make sure that you double check that even your photos are on-brand too. 

If you are presenting as a bold and bright brand, but your Instagram feels black-and-white monochrome the two things don’t match up. It will not feel on-brand. And this discrepancy will ruin your brand reputation. People need to be able to look at anything on any of your platforms and make the connection between that platform and your business.

And always remember that the story of your brand is what makes you different from everybody else. And this is the exact reason the customer will buy your products and return in the future.

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How to promote your beauty business

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beauty business

It is crucial to give the necessary importance to online marketing and online strategies in all kind of business. Knowing the effective ones will definitely make your business grow. Because believe it or not there are many specific tools for beauty centers, from creating a web page to starting to work on its social networks. Do you want to know which ones are the best? Keep on reading!

Promote your beauty business

Technology currently allows us to have easy access to unlimited data, because we’re living in the Information and Internet Age. And of course there are professionals who can directly help us. However, we can also follow their advices. In this case, the ones specially made for beauty centers. The challenge is imminent in the daily fight against all companies, which are becoming visible on the Internet. This is why it is never too late to act. Start now!

What can beauty centers do to reach all their potential clients? A meticulous study of each business is mandatory depending on its needs. The objective is to get the largest amount of potential customers, in order to come out in the top positions of any search engine, such as Google. This way your will anticipate competitors on the Internet. It is very ambitious to ensure a global strategy that works 100%. Likewise, it’s critical to know the basic principles in order to start.

Tips to promote your beauty company

  • Your beauty salon name has to be simple and has to sound good. Choose an easy one and you’ll see the results.
  • Analyze other businesses in order to apply them to yours, such as https://activerain.com/blogsview/5468873/four-tips-to-help-you-start-and-run-a-successful-spa-business 
  • Send Newsletters, they are also a good marketing tool. You will be able to send mass mailings to all your contacts.
  • Make a professional web page of your beauty center so that it exists on the Internet. This this way your competitiveness will boost. In addition, your website must be properly optimized to be able to place your company in the first Google search results. Plus, this will give your business a more professional image.
  • Being present on all social networks is crucial, because if you want to make yourself known without them you will be practically lost. It is part of the evolution and the new era. By this means you can share a wide variety of beauty content.
  • Manage advertising and promotions on the Internet. You can do them through Google and Facebook, both give out the best results. A professional Facebook Fan Page is a clever idea, and advertising on Google Adwords too, they are effective and not so expensive.
  • Open a blog of your own company. It will help you to position your website organically on Google. Take notice you will have to post frequently.

If we want to get immediate results, promoting our beauty business advertising on the Internet is the best, as well as having a professional and beautiful website of your beauty business. These will make your business more competitive and it will help your company get good results.

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Safety Matters (Here’s How To Improve It In Your Business)

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security-business

There are several reasons why safety needs to be a top priority in your business. The first is that you have an obligation to keep your customers and workers safe. While the second is that employees will always be more productive in an environment in which they feel secure. Finally, accidents can cost your company big in a variety of ways, including delays, compensation, replacing equipment, and even in terms of your public relations. With that in mind, your business must be as safe as possible. Read on to find out what you can do to make it so.

Make sure the physical space is a safe one 

The first consideration concerning safety that your business will need to make is the physical surroundings you provide for your workers. The good news is there is a lot you can do to improve this. 

In particular, being aware of any hazards and either resolving them or signposting them, so any employees and visitors know about them beforehand are vital. Additionally, making sure you have good quality, reliable equipment that is regularly maintained and serviced is so necessary as well. 

Also, do not forget that the structure that your company resides in matters when it comes to safety as well. In fact, many businesses use professionals like this commercial flooring company to ensure their locations flooring is as flat and safe as possible. Something that can make a huge difference when it comes to minimising accidents at work. 

Consider psychological safety and well being 

It’s not just risks to physical safety that can harm your business, but emotional and psychological ones as well. In fact, studies have shown that mental stress from work causes a tremendous amount of absence and can contribute to high employee turnover. These both being things that can cost your business a lot of money over the long term. In addition to that, psychologically stressed workers will be unhappy and suffer in terms of motivation and productivity as well. 

That is why it is so vital to work towards a positive atmosphere within your company. Now that doesn’t necessarily mean that everyone has to get along at all times. However, a culture of respect, humility, and teamwork can go a long way to keep people’s psychological well and safety at work. 

Of course, that means having obvious expectations of how all your employees are expected to behave. Along with reasonable and scalable consequences for anyone (managers included) that do not adhere to these. 

Educate employees on safe practices 

Finally, when it comes to safety in the workplace, one of the most valuable things that you can do is to educate your workforce. After all, there is only so much that you can do without the cooperation of those that work for you. 

To that end, implementing a robust safety education program that educates both new workers and tops up the knowledge of those that have been with you for some time is essential. If you are truly dedicated to showing safety matters in your business.

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