Entrepreneurship & Business Talks – Page 2

Brain Wave, Entrepreneurship & Business Talks, Money matters

A steady passive income.

March 2, 2021 No Comments

This pandemic has taught us so many things but the uppermost is that we should have a steady passive income from which we can build a fund for emergencies such as the lockdown that happened last year. Several co-workers were retrenched because the company was in dire straits. We needed to cut costs to be able to stay afloat and not close shop like what so many other companies did.

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My brother is looking for used tire for sale and it made me think of a car repair shop. My Dad used to own one but it folded and closed shop when someone in the family got sick and we needed the money to pay for his hospital bills. My Dad liquidated his business to use for the hospitalization. But we grew up around that shop so my siblings and I know how to run one. Plus, I am an accountant by profession so it would be easy for us to set up shop again and start that kind of business from ground up. It will become a steady source of passive income for my siblings and I because we do not really plan to quit our nine to five jobs.

Another idea is to go ahead with the plan to put up an online shop for our handmade candles. It has been months since this idea came up but I am really busy so my sister and I put a hold on it for now. My sister has been testing, researching, polishing processes. She is also completing documents so we can register our company very soon. This will be a work-in-progress for now but very soon, I am sure it will come to fruition. This business idea excites me the most because it was a long-standing dream of my sister and I to dabble in candle and soap-making. We love the idea of making something out of our own hands and for others to use the product for their enjoyment and relaxation.

These are just two ideas of our family on how to have a steady passive income flowing into the family coffers. We want to build a sizable egg nest in preparation for old age and also for the little ones. The idea also is to have them grow into businesses and not rely solely on paychecks like what we have been doing for how many years now. We want them to learn that it is totally fine to be an employee but it is so much better if there is a business that they can grow and earn so much from.

This pandemic really made us think and look back to some goals that we have set aside in the past years. Now, more than ever, is the right time to begin working towards those goals again. If not for us, for the little ones in our family. For their future.

Brain Wave, Entrepreneurship & Business Talks

Renovating the Office.

February 2, 2021 No Comments

With this pandemic, and most places are on lockdown to prevent the spread of the virus, people have more time to think and plan. The company manager thought that this is the best time to push through with the renovation of the office since majority of the workers work from home now and labor is down. This is also the best time to contact those experts on windows and doors north york. It is best to reinforce the security of the office especially as most days nobody is there to stay or check.

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There are three considerations which should be taken into account while planning the renovation.

Timeline and cost of labor

A couple of contractors were contacted and were asked to submit proposals. The whole office will be renovated, top to bottom. How many weeks will it take for the renovation to be completed? How many workers will it need for the renovation to be done on time? How much will it cost the company to have the office renovated in the timeline and number of workers the contractor has provided?

There was an instance in the past when the company had partitions installed. Timeline and cost were provided that were not followed simply because one worker did not go to work for two days and some partitions were not pre-cut as specified in the contract. The company did not pay for anything since it was not a fault on our part, but we were inconvenienced with an additional three days of on-site work.

This time around, the timeline should be followed strictly, and the cost of labor will also have to be followed to the last cent.

New office layout

Should we go back to having partitions or stay with the open concept that was adopted a few years ago?

Most offices have cubicles for workers to provide a semblance of privacy. There are also those provided with rooms of their own. But with limited floor area to plan with, cubicles will make an office look and feel tight and cramped. With open concept though, the privacy provided by cubicles will be gone.

A properly well-thought out layout will have to be drawn, discussed, and approved by management to ensure peace and harmony when everyone goes back to the office for work after this pandemic. Just imagine three people talking on the phone and every one on the floor can hear it. Chaos.

Options, Maintenance, Security

New shades of walls, brand new tables and chairs (or newly repainted), doors and windows, biometrics. These are just some of the additional considerations in renovating the office. Also, maintaining it once the renovation is done. Professionals should be called and hired for the doors and windows for security purposes. The same should be considered for biometrics.

Renovating an office takes ample time, planning and consideration, as well as money for it to be done properly and on time. Make sure professionals are consulted and contractors are asked to submit their proposals with the contracts secured and followed to the T.

Brain Wave, Entrepreneurship & Business Talks, Life in general

Adding a passive income.

January 31, 2021 No Comments

I am in the process of establishing a business which will give me a steady passive income. Checking out poly plastic bags has brought back so many memories of the past year. Memories, lessons, plans…

The past year has taught me a very important lesson: I need to save up. 2020 came with a loud bang! Everyone, including myself, had been expecting last year to be abundant in all aspects of our lives. Indeed, the year ushered in great income potential not only professionally but personally as well. We couldn’t ask for a better first month of the year. Who would have thought that it would go down the hill faster than you could expect it to be?!?

One disaster came after another. A volcano erupted causing massive disruption in the economy. When the effects of the eruption was fading away and people were going back to the normalcy of their lives, a super typhoon hit the country destroying billions worth of crops, produces, and so livelihood.

Then the virus hit.

It was a Monday, I was at work. We were immediately told to bring whatever we needed to begin working from home until further notice. I had to pack a lot of documents and brought home all of it including binders, printers, rims of paper. It was a manic Monday, literally.

Months that we were in limbo, our jobs were on the line because businesses were closing. With no income flowing in, almost every company I knew declared bankruptcy. The company I was working for was so close to shutting down. I was silently panicking because I had no savings to speak of. Where would I get the money to pay for my bills?

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That’s where the idea of setting up a permanent source of passive income came from. One idea is a business with my sister of producing candles meant to be given away on special occasions. The big ones. The packaging is something I am very particular about because I want it to be extra special. Maybe, International Plastics can provide it. I still have to check again.

Save up. Have an emergency fund. Have a steady source of passive income. It won’t hurt to have something to tap on should a big disaster hit the world again.

Brain Wave, Careers, Freelancing and Self-Employment, Entrepreneurship & Business Talks

Redundancy: It’ll Be OK

August 31, 2020 No Comments

There is no denying that the pandemic has caused a lot of grief. Whilst some have revelled in lockdown and the pleasures it has brought with it; like being able to spend more time with family, getting to know your neighbours and feeling the overwhelming sense of community. The ‘we’re all in this together’ camaraderie has helped a lot of people through. But that doesn’t mean that it hasn’t been hard. The world is changing forever as the lockdown has forced many people to adapt. Remote working isn’t just a thing of dreams anymore as big bosses realise it can be done. Offices are staying closed, businesses are being forced to find alternative ways to keep on surviving. With some people being furloughed and others even facing redundancy. It’s a challenging time and if you find yourself in any of these situations then perhaps bopprelawfirm.com can help you.

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Whatever path you might find yourself going down, the first and foremost thing, is to make sure you look after yourself. Being made redundant – during the pandemic or not – can be incredibly stressful. On top of this currently is the added factor of being frightened of an invisible threat. But you have a real opportunity here to step into a life you always wanted but were maybe too scared to go after. It’s a strange time and unfortunately many businesses, through being forced to adapt, aren’t hiring new employees. So if you’re faced with uncertainty and you’re wondering where that next pay check is going to come from just remember you are not alone. The best thing you can do right now for your mental well-being is to look beyond the financial aspect, take stock and think about your long term goals. Check in with yourself and figure out what you really want.

While now may not be the best time to socialise and meet new people, always try and keep your options open by keeping communication open with people. Network virtually, you never know when or where a job opportunity might come up. Or perhaps there’s a company that you maybe didn’t have the confidence to go for in the past or maybe your qualifications didn’t quite match up perfectly. Be ballsy, you’ve got nothing to lose by going for it now. Or just use this time to polish up your CV and do any jobs around the house that needed your attention before but you didn’t have the time for.

Redundancy can lead to lots of anxiety, stress and worry about the future and things feel very uncertain right now with the pandemic. Accepting that redundancy is out of your control and that it is not your fault is the first step in moving forward. Once you accept that it is out of your control you can start to focus on things that are in your control. Take care of yourself, keep up with the latest news so you can keep yourself and your family safe and healthy. Figure out what you want to do and when the time is right approach it with a new confidence.

Brain Wave, Entrepreneurship & Business Talks

Showing Your Employees That You Appreciate Them

August 27, 2020 No Comments

As a business owner, you’re likely going to be working with a number of different employees in your business. You’re not expected to get along with all of them, but it’s hard to deny the fact that a healthy relationship with your employees can greatly improve the overall productivity of your business.

One of the best ways to build this relationship is to take notice of any activities they’ve done that warrants a pat on the back. Perhaps they stayed after work for a bit to cover for someone that called in sick, or maybe they’ve pushed new ideas to the business which has resulted in higher profits and more customers.

Whatever the case may be, here are some simple steps to improve your entrepreneur skills and show your employees that you appreciate them and their efforts.

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Don’t hesitate when speaking to employees one-to-one

It’s not every day that your employees get to speak to you on a one-to-one basis. However, there are times when it might be necessary, such as when your employees are struggling with certain tasks or if you’d like to congratulate them for something specific. You’d be surprised at just how much it helps to show a bit of appreciation to your employees throby ugh acknowledging them and speaking to them one-to-one.

Get them something special to commemorate a milestone

A great way to show your appreciation for your employees is to get something special to commemorate milestones. For example, you could have rewards for employees that stay with the company for a certain amount of time. It could start with a rather basic item from specialists like Challenge Coins Ltd. Bespoke collectable coins are a good choice since they can be engraved with a number of different designs and messages. By getting something special to commemorate a milestone, you’re showing your employees that you care about them.

Listen to your employees and ask them regularly for feedback

It’s important to listen to your employees whenever they encounter trouble or problems with their work. They might offer some suggestions on how to change your business to improve efficiency, or they might even talk about things that are holding them back. They’ll likely suggest changes that you could make that might improve their overall productivity as well. At the end of the day, you should always be listening to your employees. Ask them if there’s anything you could improve, if they’re facing any problems and if they have any overall income concerns.

Rewards don’t always have to be fun and games

Many companies offer rewards that are based around having fun, entertaining yourself or even sending you off on a holiday. However, there may be times where an educational gift could actually be more interesting. For instance, if your employee has shown that they’re willing to go the extra mile for your business, you can return that loyalty by offering them training courses to learn new skills. It’s a reward that is based on their career and will give them more opportunities in the future.

Brain Wave, Entrepreneurship & Business Talks

Going the Way of the Entrepreneur: 2 Key Personal Traits to Learn

August 26, 2020 No Comments

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It seems that many people are jumping onto the freelance way of life at the moment. And partly, it’s to do with necessity, it’s also the personal outcomes that can influence our decision. Many people are learning how important it is to have control over their lives, and it seems that this is one of the key ways these days. When there is a recession there appears to be a spike in people looking for ways to make money for themselves. But when you start to build your own freelance career and decide that you want to be an entrepreneur there are certain personal considerations that you need to think about.

Money Is More Than a Commodity, It Is a Mindset

Building any company, whether it’s online or in real life, requires a relationship with money that goes beyond the physical. The best place to begin when you have a poor relationship with money and you’ve been in debt previously is to get a clean slate. While there are debt discharge programs like on www.DTSS.us you have to think about being debt-free as a mindset too. So many people start a business as a way to scramble together money quickly, but this is not the case. The first year can be incredibly difficult for any budding business person. And you may feel that you are financially worse off. This is why you need to change your relationship with money. Changing your lifestyle so you can invest in the business but also get an understanding of that sensation you feel after you’ve earned that first dollar can help change your entire approach to how you live.

Learning to Lead

Going back to the idea of being self-sufficient in terms of our own careers, we may feel that we need to be in control of our domain. The big problem with being in charge of your own business is that you have your own preconceived ideas of what being a boss actually entails. So many people have so much of a chip on their shoulder, they feel in order to get anywhere they’ve got to beat on people below them or be incredibly harsh leaders. The true value of being a leader is not about shouting loud or being someone who puffs their chest out; it’s about being the person who listens, inspires, but also has an approach that considers everybody. You may think that you need to be a Donald Trump and start blaming everybody for problems that you’ve created (hopefully without the hairstyle and hue of orange), or you can be the person that takes responsibility, like Abraham Lincoln. There are so many characteristics of great leaders to consider, and there are 5 of these on www.FastCompany.com. And while you will encounter people throughout your life that think this is the best way to be, morally speaking it doesn’t help.

To be a business person you may have preconceived notions of the entire mindset. But when you are in charge of something that has to pay other people as well as yourself, you have a duty of care. If you are considering going the way of the entrepreneur, these are the two key personal considerations to start with.

Brain Wave, Entrepreneurship & Business Talks, Work at Home

These Simple Tips and Tricks will Help you to Work from Home Much More Efficiently

June 3, 2020 No Comments

If you want to work from home more efficiently than ever before, then this is the guide for you. Take a look below to find out more.

Set a Schedule

The first thing that you need to do is set a schedule and then stick to it. If you can, try and establish clear guidelines for when to work and when to stop. This is how a lot of remote workers are able to maintain a much healthier work-life balance. If you work erratic hours, then you may need to adjust your schedule accordingly.

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Create a Good Routine

Deciding that you are going to sit down at your desk and start work at a set time is one thing, but creating a routine that helps to get you to your desk is another. If you want to really help yourself, then you need to have the same routine every morning. This may include returning home after you have been out on a jog or even getting dressed properly when you wake up. Some people who work from home like to lounge in their PJ’s because it is much more comfortable, but at the end of the day, it won’t help you to be creative.

Set Ground Rules

Set ground rules with others in your home, or those who share the space. If you have kids, then make sure that they do some of the chores around the house and also make sure that they give you your space when you are trying to get your head down. If you are able to do this then you will soon find that you are far more productive and that you are also able to have a much more efficient business schedule. If you have a family then you may find that you struggle with your internet connection as soon as the kids get home so look into some business internet packages if you can.

Schedule Breaks

Just because you are working from home, doesn’t mean that you shouldn’t take a break from time to time. You need to take regular breaks because if you don’t then you may never end up relaxing as much as you could. If you are not careful then you may also end up overworking and this is the last thing that you want. It’s also important that you don’t short-change yourself when taking breaks too. If you plan to have an hour but only end up having 20 minutes then this will make it harder for you to get your head down and concentrate, so give yourself time and don’t feel guilty about it.

Leave the House

You should try and leave the home on a regular basis. If you don’t then you may find that work ends up being too much and that you struggle with motivation. When leaving the house, try and make the effort to meet up with friends or even try and give yourself a break from work in general. Working from home can be isolating, and if you aren’t careful it is very easy for things to mount up quickly. If you want to stop this from being the case, then socialising is key.

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