Guest Post

The Importance of Awarding Employees

by Melvin · Feb 16, 2019

This is a guest post by Amanda Green.

How do you motivate your employees to be more productive? In every organization, there are employees who will do everything to ensure that work is done. They will arrive early and stay long after everyone has left. These are the workers who want to see the company grow even when they do not benefit directly. If you want to get the best out of such people, you have to find a way to award them. You need to show them that you recognize their hard work by appreciating everything that they do, such as giving Crystal Awards. There are many ways through which you can appreciate such employees. Let us look at some of them.

Introducing regular awards

You can introduce an employee of the month award to recognize those workers who perform the best every month. Make sure that you monitor every employee to find out how they perform. For example, you may want to know the volume of work that they accomplish every day. You may also want to know the employees that arrive early and those that work extra hours. Sometimes, you may want to know how much they help their colleagues to do their work. When you do this, you will notice that every worker wants to be more productive, and that is how you increase your company’s earnings.

Recognition in front of other employees

Sometimes, recognizing your employees in front of their colleagues works magic. You may want to mention their achievements during a company meeting. You may also want to talk about the exemplary things that they did during a lunch break or after work. This motivates them to work even more. You will notice that when you recognize them in front of their peers, they gain more confidence and therefore, they will want to work even more. It also makes the other employees want to follow suit because they too want to be recognized just like their colleagues.

Lunch with the boss

You can also award your employees by inviting them to lunch. Find out the workers that have been most productive for the month and invite them to lunch or dinner. Nothing motivates an employee more than a chat with the boss. Use this opportunity to let them know that you are impressed with their performance and so you would like to spend some time with them. It can be lunch prepared in the office or at your favorite restaurant. A drink will also make them happy and, as you will find out, they will want to work even more so that they can get another chance to dine with the boss.

Certificate of recognition

A written award can also motivate your employees to work more. When you issue them with a certificate, they will keep it and they will always look at it and remember how you rewarded then. Such certificates can also serve as testimonials so that whenever they are asked about their achievements, they can produce them. Certificates can be more fulfilling than other awards such as lunch or days off. For instance, long after the award, the employees may forget about the lunch, but they will always have the certificates to show for their hard work.

Shopping vouchers

If you have enough funds, you can award your employees by giving them shopping vouchers. Let them choose anything that they want to purchase as long as it fits in the price range that you have decided upon. You can also add other incentives, such as allowing them an afternoon off duty to go shopping. It may only be a small amount of money, but the motivation that it instills in your workers will be huge. At the end of the day, you will notice that they work harder and, therefore, the amount of money that you spent on the voucher will be recovered in no time. There are many other ways through which you can reward your employees. You may want to find out the things that fascinate them most before choosing an award. People like different things and you should know your employees well before choosing anything for them. You can easily identify the right way to award them by carrying out a small survey. You will be baffled to find out that what you thought was the best for them is nowhere close to what they prefer. Ultimately, the awards should serve as a motivator so that they work even more.

Beginner’s Guide To Different Business Structures

by Melvin · Jan 6, 2019

This is a guest post by Amanda Green.

Are you having that one idea and you think that everyone will love it? If you want to find out if your idea will actually work, there’s only one thing you can do: prove it. Building a business is your way to go. However, it must be a little overwhelming for some people to build their own businesses, especially those who don’t have prior experience. There’s a lot of business structures available and will answer some of your needs depending on your budget and how big you want your business to start. The three main types of business structures are a sole proprietorship, partnership, and corporation.

SOLE PROPRIETORSHIP

Sole Proprietorship is the easiest way to get your business running. It requires a smaller capital (it might be bigger depending on the kind of product you’re planning to make) and less legal requirements. Some states, like Pennsylvania, do not even require sole proprietorship to register their businesses. The sole proprietor will be the one shouldering all the hard work, thinking of all the ideas, implementing, and controlling every aspect of the business. This type of business structure is good for people with low-risk ideas who want to do this type of job for a long time while minimizing the tax and other potential problems.

However, sole proprietors will also be responsible for the debts that the business will incur if the business fails. It will also be harder for sole proprietors to gain funding.

PARTNERSHIP AND LLC

The partnership is the space between a sole proprietorship and the corporation. This is formed when two or more people decide to pool resources together in order to form a business. There are two types of partnerships: limited partnerships and limited liability partnerships. A partnership is a better option for people who are practicing professionals like a law firm or an accounting firm. It is better for testing an idea before jumping into a corporation. Partners will decide how they will divide the obligations, profits, and debts among themselves.

A limited liability company will let you get the best options from both the corporation and partnership business structures. This type of business structure will protect the personal properties of partners but will let your profits go to your personal income without corporate taxes.

CORPORATION (C, S, B, Non-Profit, and Closed Corporations)

Corporations are the biggest business structures available. They endure a higher risk, but they also swim in higher profits because of a higher market share and product coverage. Corporations can also get funding easier through IPOs and mergers. There are five kinds of corporations that address five different needs.

A C Corporation is the type of corporation that offers the strongest protection for personal assets. However, there are a lot of requirements and funding needed to build this business structure. C Corporations are known on being taxed twice, first is on income tax for profits, second is for personal tax returns to shareholders that will receive dividends. One of the greatest thing about this form is that it has a separate life from its shareholders. If a shareholder withdrew support, the company can still keep going even after a shareholder leaves.

An S Corporation, on the other hand, is a type of corporation that counters the double taxation occurring on C Corporation. This is done by allowing profits and losses to pass through personal income of shareholders. S Corporations can only have 100 shareholders at one time and all must be US citizens. You need to meet certain criteria to get the S Corporation status.

A B Corporation, on the other hand, works differently from C Corporation but is taxed in the same way. B Corporations are known to have both missions and drive for profit. One of their legal obligations is to give back to their customers via a contribution to public good.

A Closed Corporation is like the B Corporation but has traditions that are usually seen on smaller companies. Unlike B Corps, Closed Corporations are not permitted to partake in public trading.

Nonprofit Corporation is a corporation that does not carry profit as the main driver of existence. They solely exist in order to serve the public via their operations. Because of this, they are usually granted tax-exempt status.

Monetize your Business

by Melvin · May 12, 2018

This is a guest post by Daniel Bailey.

No one ever wakes up and wishes they had less cash flow. In fact, there are so many people who would love to make more money without a ton of effort. Thankfully, this can be your reality. If you have access to the internet, you have access to money. There are a few major keys that you’ll want to implement in order to monetize your business.

Passion. Pick a topic that you already talk about on the internet. Find something that you’re extremely passionate about and thoroughly enjoy researching. In the beginning stages of building a presence that’s monetizable, you’re going to need to do some heavy lifting and ground work to get things started. If it’s not a topic you particularly enjoy, it’s going to be harder to lean in to the process. The Internet is such a huge space and there’s so much room for all niches. It doesn’t matter which niche you choose. Just be sure to pick one that you love. It’ll help you feel curiously alive.

Discipline. To achieve anything great in life, you’ve got to put forth a certain amount of commitment and discipline. Surprisingly, there are many people who just aren’t disciplined. Discipline is what separates the good people from the great people. Sometimes, you’ll have to spend long hours working. Eliminate distractions, focus on the task at hand and get it done.

Home Base. While it’s good to use social media to drum up more excitement and conversation around your brand, you’ll want to maintain a home base that you actually own. Purchase your own piece of online real estate through a website and domain. To start a passive income stream, create digital products and sell them on the website. Set up the shopping section of the website and make sure that you have great web design and development in place. Elements like online shopping cart design and website speed are important to consider and perfect for a streamlined customer experience.

Automation. If there’s one thing you’ll want to automate, it’d be your marketing efforts. You can consider hiring a social media manager to take manage the Facebook Ad initiatives and interacting with clients. You can also decide to work on content creation one day each week and put it in a scheduling system that’ll automate the posts throughout the week. Whatever systems you choose to implement, make sure to do so. It’ll save you the headache and frenzy of managing a long to-do list. Lean into the process and be prepared to learn. As you learn more, implement those lessons. The more you commit to the process, the more results you’ll achieve. Before you know it, your efforts will have a compounded effect. Start the process now and one day, you’ll wake up and realize you are experiencing cash flow in your sleep.

Take the Boring Out of Your Online Meeting

by Melvin · Jun 14, 2016

This is a guest post by Tim Hamilton.

On average, half the people who register for your online meeting will not pitch.

When it comes to the crunch and your meeting is about to start, many of your registered participants will be too tired from the day, or life will get in the way, or they will have forgotten.

But you can entice them beforehand so that the event will be viewed as fun, unforgettable and coveted. And this will increase your registrations and those who actually attend.

When life’s so short, who wants to willingly and happily attend a boring online meeting? Take the following tips and make your event pop.

The Right Strategies to Save Money When Renting Apartments in the Philippines

by Melvin · Jun 3, 2015

This is a guest post by Jose Warren Sola

No matter where you live, your monthly apartment fees probably take the largest portion of your take-home pay. In addition, there are utility bills and other expenses that you have to consider as well. In a practical perspective, you want to lower the rental costs of your accommodation. However, with the tight economy, you are going to have little leverage in finding a cheap apartment that satisfies your needs. Nonetheless, you can always find a bargain. Prepare for your property search with the right strategies and you just might save some money on your next location.

Skip Brokers

Unless you live in a big city with a considerably high demand for apartments, like Manila, Antipolo, Davao, or Cebu, don’t bother involving an apartment broker. They will typically charge a commission fee that is usually a percent of the first year’s rent. Take advantage of the available range of apartment search tools and online property finding marketplaces to find a suitable accommodation match in just a few clicks.

Have Roommates

Having a roommate or two is always a great way of saving money on your apartment rent. Take advantage of sites such as sublet.com, roommates.com and iBilik.ph, as well as social media listings to find perfect roommates. Sharing rental costs with roommates is way much cheaper than renting an apartment on your own.

Additionally, you can save more on your apartment rent by sharing food with your roommates. You can buy groceries in bulk and split the bill. You can also resort to cooking your meals together. Cooking in bulk is generally less expensive than making a meal at a time, or eating outside.

Choose a Location outside an Urban Area

Although apartments within the city center may seem convenient and flashy, it doesn’t make a lot of sense if you will struggle to pay rent. Checking for apartments in the city suburbs that are within a commutable distance to your workplace or school will help you save a lot of money when renting apartments. You can use online property search tools, such as zipmatch, rent.ph and rentpad.com.ph to speed up your hunt.

Negotiate

Negotiating is one vital tip many people shun. Before signing a lease, try to negotiate with your landlord. Sometimes, if you are willing to sign a considerably longer lease, your landlord may consider reducing your apartment monthly rent. This will help you cut down on the apartment expenses and secure your accommodation for a longer time.

Skip Luxurious Facilities

In picking apartments, avoid properties with luxurious facilities that you may not need, such as a swimming pool or a fitness gym. This eventually adds up to your monthly rent, since you will be charged for their use and maintenance. Be practical in choosing properties and only consider something that you can afford in the long run.

There are also apartments that cater to the high- end market. As you will notice, these properties have appliances and interiors that are costly to maintain. If you can live with just the basic amenities, why pay extra?

Embrace Any Saving Opportunity You Come Across In the Market

One great way to limit your apartment budget from skyrocketing is to pay close attention to special offers in the real estate market. You will never miss deals, incentives and waivers with the right online tools available today. Besides, paying cash over credit for certain rent-related transactions can lead to certain discounts and offers. Consider all of these as opportunities to reduce your rental costs.

Bottom Line

Saving as much as possible when renting helps you reserve some cash for other move-in expenses. Unplanned purchases will often pop up out of the blue, especially when you are moving into bigger apartments. For instance, you will find yourself adding more furniture to the extra bedroom or buying more toiletries and supplies to fit the new bathroom. Such expenses will have a lesser bite on your budget if you can manage to save some money on your apartment rent.

Cost Vs Quality: Do Not Skimp On These Elements for an Excellent Website Design

by Melvin · Aug 31, 2014

This is a guest post by Charlie Brown.

Any sensible entrepreneur wants to squeeze a dollar out a dime because after all, you are out there to make money, right? You need to be able to get the best quality of products and services for your business at the lowest possible price in order to make any kind of profit.

While that is good business sense, it can sometimes be taken too far. There are areas where quality can be compromised because of cost (not recommended but understood) and there are other areas where you money should not be an object. One of these areas is web design.

Your website, in fact, every one of your web pages is the face of your business to the world. Potential investors and clients will get a feel for who you are and what you are about from how your website looks and functions, and of course the content it has. So you really must put your best foot forward here and spend as much as you can on good quality web design.

There are certain irreducible minimums when it comes to the elements on your website and these are the things that you should concentrate on when requesting for web development. That way, you don’t go over budget but still get great quality work done.

The first thing you need to do is ensure that your website has good hosting. You do not need to be on a server that has anything less than 99% uptime. In addition, the company should have great technical support and customer service to help you navigate around technical issues efficiently. Make sure to compare prices here as well and ask around for a recommendation before you settle on one. Your web designer should also have some ideas on a good hosting site.

Next is to have a beautiful home page. This is the face of your business and should be made to look perfect for your kind of business and target demographic. Your home page’s design and function will go a long way in building your reputation for professionalism, relevance, excellence and a host of other factors, so make it count. The same level of quality should be reflected on the rest of the web pages as well.

You should ensure that your website is user-friendly. This refers both to you and to your visitors. It should be designed in an organized manner and be easy to navigate so that the visitors can be led through the site to the product or service desired and eventually make a decision on it. Don’t make it cluttered or complicated; just clear and simple. You should also be able to make necessary changes and updates without calling your web developer all the time so ask for a good content management system with your website.

It is also important to have a clear call to action on all your pages. Make sure each page directs the visitors to doing something regarding what they have just read and seen. This simple function will ensure that your website is successful and that your business will also be successful.

About the Author

There are few things that people look for in a good website and once you have them, you will be well on your way to success without breaking the bank. For more information on how you can get an affordable website design for your brand or business, visit our site by clicking on the link.

Alternative funding options for small and medium sized companies

by Melvin · Aug 3, 2014

This is a guest post by Isabella Ramos.

The difficulty of securing a traditional bank loan for SMEs has been well documented. Given the reluctance of banks to lend, owners of small companies are being forced to look for more innovative types of funding to grow their business. But how do they do it?

Awareness and information keys to success

Recent research conducted by Wonga indicates that around one-third of micro-businesses have been turned down for bank funding. 60 per cent of them suffered cash flow problems or missed key opportunities as a result. These findings suggest that many small company owners simply don’t know where to look for extra finance, beyond traditional bank lending.

Banks often turn down a loan application due to the credit rating of the business and/or the key managers responsible for its operations. For this reason, it is worth performing credit checks on the company and its managers to identify any potential issues as well as to ensure records are complete and accurate.

Even if alternative financing options are being pursued instead of traditional loans, lenders will carry out credit and fraud checks just the same, so it still makes sense for small businesses to do regular health assessments on its credit profile.

You can check your score easily – in private. For those wondering where they can get credit reports, have a look online. Many businesses offer free company checks and deliver business information such as company reports, credit and fraud reports and Companies House documents.

Online portal to educate and provide finance

So, how should owners of SMEs educate themselves on non-bank funding options? The Alternative Business Funding portal hopes to be the answer. Not only will the site educate business owners on the types of finance available, it will also match lenders and borrowers quickly through the internet. The portal supports different types of alternative financing, including crowdfunding, peer-to-peer lending, invoice trading and even pension-led funding.

Crowdfunding

Now a relatively mainstream option for entrepreneurs, crowdfunding aims to attract hundreds of small investments which can then be used as equity to fund start-ups or businesses in early stages.

The way it works is that you write up your idea and business plan and present it to potential investors, who will contribute a small sum if they like your pitch and believe your project will succeed. There are different ways in which you can reward those who helped to get your business off the ground – you can either give them some form of a perk or gift (reward-based crowdfunding), or you can give them a stake in your business (investment crowdfunding).

Apart from a sound business plan, you will also need financial forecasts in order to access crowdfunding platforms.

Peer-to-peer lending

Although peer-to-peer lending is also about raising finance from a number of people who pool their resources together, it is very different to crowdfunding in that lenders are not rewarded with any equity or perks. Instead, they receive interest on the money borrowed, much like the arrangements of a normal bank loan.

Rather than start-ups, this type of funding is targeted towards established businesses that have been trading for a minimum of two years. It is suitable for all types of business structures, including limited or non-limited companies as well as limited liability partnerships. Relatively easy and quick to obtain, the money borrowed can be used for any business purposes such as buying capital equipment, stock purchases or even used as working capital.

To access peer-to-peer funding, you will need to provide business financials as well as reasons for the loan. Depending on the amount you wish to borrow, you may also need to provide some form of security or personal guarantee.

Online invoice trading

This form of funding involves uploading unpaid invoices onto an online auction where interested buyers can bid to fund them. Buyers may include institutional investors, asset-based lenders, banks as well as high-net-worth individuals.

Unlike traditional factoring or invoice discounting agreements, there are no long term contracts or exclusive agreements involved with this fundraising mechanism. The borrowing company can choose to sell invoices individually or together in a bundle.

Online invoice trading is a quick and convenient way to raise money as uploaded invoices can be funded in as little as one hour. It is a great way to overcome cash flow issues caused by debtors who take a long time to settle their account.