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How long will it take for my business to be profitable?
One thing with new businesses is that you need to give it time. I would practically say that you should give a window of 6 months for an average business to start making profits. It could be slightly earlier or later. Every business has it's expected window for profitability and you should study itRead more
One thing with new businesses is that you need to give it time. I would practically say that you should give a window of 6 months for an average business to start making profits. It could be slightly earlier or later.
Every business has it’s expected window for profitability and you should study it and manage your expectations. But if it is not long term business, and it doesn’t make profit after 6 months, questions should be asked.
See lessWhat exactly is customer satisfaction?
Customers satisfaction is when the expectations of the customers are met for your goods and services. It means that the customer derives absolute utility from buying and using your products or services. Customers satisfaction leads to repeat customers? How do you measure customers satisfaction? WhenRead more
Customers satisfaction is when the expectations of the customers are met for your goods and services. It means that the customer derives absolute utility from buying and using your products or services.
Customers satisfaction leads to repeat customers? How do you measure customers satisfaction? When there is less complains from your customers about your products and services. And when they have confidently referred another person to your product, they themselves being loyal customers.
See lessHow can I Foster teamwork in my business?
You would need to create an enabling environment in your organization that fosters unity and cooperation. Clearly, as a business owner, you must have no favourites among staff members. That alone would create unhealthy rivalry among your staff. Also, let promotions and commendation/bonuses be basedRead more
You would need to create an enabling environment in your organization that fosters unity and cooperation. Clearly, as a business owner, you must have no favourites among staff members. That alone would create unhealthy rivalry among your staff.
Also, let promotions and commendation/bonuses be based strictly on merit. That would foster healthy competition. And lastlyy, treat your staff well generally.
See lesshow do you normally spend your office breaks?
When I was an employee, I used to spend my office breaks to work online. I was a private school teacher in a school that was already short-staffed. That automatically meant we had no time to even stay free. I used the break period which was just 30 minutes to work on Trendri and RIF. Other teachersRead more
When I was an employee, I used to spend my office breaks to work online. I was a private school teacher in a school that was already short-staffed. That automatically meant we had no time to even stay free. I used the break period which was just 30 minutes to work on Trendri and RIF.
Other teachers used that time to eat but I usually ate to my fill before leaving the house everyday. So, I better use that opportunity to catch up on my paid to post earnings and see how much I can add.
See lessWhat are the reasons why some business negotiations end badly. l
Two reasons I would give why business negotiations end badly is dishonesty and rigidity in terms and conditions. When one party of a negotiations finds out that the other party has been dishonest with information or actions, there is always loss if trust which would ultimately kill the negotiationsRead more
Two reasons I would give why business negotiations end badly is dishonesty and rigidity in terms and conditions.
When one party of a negotiations finds out that the other party has been dishonest with information or actions, there is always loss if trust which would ultimately kill the negotiations process.
The other factor is rigidity. When the two negotiating parties hold on to their beliefs and convictions, no one wants to sacrifice and let go, the negotiations always ends in deadlock.
See lessOn what should I be focused when recruiting employees?
The first thing that should be assessed when recruiting employees for your business is their ability to fulfill the job role efficiently. This is the most important because a job candidate should be able to carry out the job he or she was employed for. The second thing to consider is if such a felloRead more
The first thing that should be assessed when recruiting employees for your business is their ability to fulfill the job role efficiently. This is the most important because a job candidate should be able to carry out the job he or she was employed for.
The second thing to consider is if such a fellow is teachable. This factor is very important because it determines if a potential staff would be able to take instructions and corrections.
See lessBusiness is a combination of war and fun true/false?
While I don't always like to take the war posture as a business person, the reality is that the business world is very fierce and it isn't for the faint hearted. It is only in the business world that you would see one firm try so hard to sabotage the very survival of the other firm. It is so becauseRead more
While I don’t always like to take the war posture as a business person, the reality is that the business world is very fierce and it isn’t for the faint hearted. It is only in the business world that you would see one firm try so hard to sabotage the very survival of the other firm.
It is so because money is involved in business and money most times always brings war. Yes, business is a combination of war and fun. I agree.
See lessHow can I develop my business negotiating skills?
You have to first of all strike a balance between being a firm person and a realistically flexible person to be a good negotiator. You must also develop thick skin to withstand emotional blackmail when negotiating. Good negotiators are people who are not sentimental. So to be a good negotiator, youRead more
You have to first of all strike a balance between being a firm person and a realistically flexible person to be a good negotiator. You must also develop thick skin to withstand emotional blackmail when negotiating.
Good negotiators are people who are not sentimental. So to be a good negotiator, you must be an absolute realist. And of course, good communication skills is very important in order to persuade other parties as a negotiator.
See lessAre job interviews necessary?
Job interviews are tests of a potential employee's communication ability and aptitude about the job role in question. Most job interviews also have a practical aspect where a job candidate is exposed firsthand to see if they are competent enough to handle it. Job interviews are necessary because itRead more
Job interviews are tests of a potential employee’s communication ability and aptitude about the job role in question. Most job interviews also have a practical aspect where a job candidate is exposed firsthand to see if they are competent enough to handle it.
Job interviews are necessary because it helps an organization to know if the person is the right fit for the job so that they can choose to hire or let go. Salaries, and other conditions of work are also discussed in job interviews.
See lessIs Emergency Fund Necessary to Save for Uncertainties?
When an emergency occurs, you have something to start from to face it if you have an emergency fund. Just imagine you didn't have any fallback, you would just easily enter debts. I understand that it is hard to save for an emergency fund but one just has to keep up. Fix an emergency amount that woulRead more
When an emergency occurs, you have something to start from to face it if you have an emergency fund. Just imagine you didn’t have any fallback, you would just easily enter debts.
I understand that it is hard to save for an emergency fund but one just has to keep up. Fix an emergency amount that would not strain you financially. It would always add up if you are consistent. One thing about any kind of savings is that you don’t have to stretch too much to achieve it.
See less