'Work from home' is becoming the new mantra on the lips of most employees, as for employers, they cannot wait to have their staff back in the office. For a lot of small and medium scale businesses, office space gulps a considerable amount of their capital. It is dangerous to generalize any solution. Instead, individuals and companies should weigh their options and consider what is best for them.
History repeating itself...
The work from home campaign didn't just start during the COVID-19 pandemic or this millennium, in September of 1994, American company AT&T embarked on a social experiment. Rather than have the worker go to work, they decided to take the work to the worker.
Thirty-two thousand (32,000) employees were asked to work from home, including top-level staff and employees in the lowest rank. Throughout the initiative, AT&T avoided running costs of over $550 million. IBM had a similar initiative, Mobility Initiative, which saved them over $100 million...
We've all been there and we may even be there right now!
As creatives and decision-makers, there is the need to perform at optimum and better your capacity continually. The possibility of struggling to get in the groove heightens with all the current events around the world. A creative block is a scary encounter for anyone. It can usher emotional episodes of self-doubt and tension.
Accepting anything short of excellence is never an option for a lot of creatives for understandable reasons. There are four main reasons creatives don't accept less than perfect:
If you're a creative in the fashion industry, your intuition is one of your sharpest tools, so imagine the frustration if you find yourself struggling to make necessary...
For the times ahead, it is crucial to position your service or product as essential and safe. The pandemic and looming recession will lead to customers spending on only essential commodities or services.
-How the pandemic crept in without announcing
We started this year with war threats from America and Iran. We didn't see COVID-19 coming, but here we are! Billions lost, millions infected, thousands of dead, and a looming recession. From all credible indicators, the times ahead will be tough for medium and small-scale entrepreneurs, especially creatives. What's coming next? and how do we prepare our businesses for unexpected scenarios?
There are hundreds of businesses that have survived for more than one century. Boschendal winery in South Africa, Berkshire Hathaway in the USA, Enterprise group in Ghana, and The Marinelli Bell Foundry in Italy are some of the many companies that have lived through wars, recessions, pandemics, and change in civilization.
Preparedness and dynamism...
JPMorgan: "Recession will rock the US and Europe by July."
World Bank: "With the heavy disruption in trade and value chain caused by the coronavirus pandemic, sub-Saharan Africa is set to record $37 billion to $79 billion in output losses this year."
For an economy to be in recession, it means there's a decline in growth (measured by GDP) for two successive quarters. The average recession lasts for a year and a half (17.5months), and every economic zone experiences at least one recession every ten years. Besides the looming recession, the COVID-19 pandemic has disrupted the order of business. After every pandemic or recession, comes a new order that redefines old norms. Luckily for 2020, there would be both a recession and a pandemic in the mix simultaneously.
Medium and small scale businesses are usually the worse hit during any volatile business season. However, it would seem the multibillion-dollar players are...
Hey there Money Maykah,
How is business going on your end?
I know this is a tough time and you’re on either end of the spectrum… there are entrepreneurs and businesses that are doing the most right now and trying to capture their audiences. They are marketing their products and services and getting sales to their businesses.
They either have an essential service or product that people need or they have discovered something new arising from the pandemic and they have decided to capitalize on it. Face masks and virtual services are a hot commodity right now.
On the other end of the spectrum, you have those businesses who are either confused, cautious or simply content with closing down their operations until things settle down. They see this as a time to refocus and attend to other priorities that are not entirely related to their business.
Where do you find yourself on this spectrum?
So what am I doing at this time?
You know, for me, I have had to stop my...
The increase in unemployment and massive layoffs have stricken panic in the heart of many employees. To solve the issue, many of them have come up with fantastic ideas and went ahead to start their own creative businesses. In a couple of months or years, the business begins to struggle.
They have a pile of bills to pay, no money in the bank, creditors are calling, customers are complaining about orders and workers are resigning on their own accord. Before they realize, the business which started as a labour of love becomes boredom and source of a constant worry. When times are tough, many business people coil in their shells, talk to their friends and family folks.
Nothing really happens, it rather moves from frying pan to fire! At this time, many lose hope and give up the fight. Instead of consulting with an expert business consult like Teca Cameron-Tackie to help troubleshoot the problem and solve the problem, they throw in the towel.
Well, if you are...
Are you looking for ways to fire your boss and start your own business?
In fact, many people want to start their own business, but they don’t even know what to do. Well, the best place to start is by looking at your own passion, talents and expertise. All you have to do is to create, package and build a new business around your creative talent.
You might have the talent but also don’t know how to create market value for customers and generate money. That is why we have put together this article: 20 innovative business ideas you can start on a weekend to earn more money.
Find the best idea that suits your passion and personality. What are you good at? What can work best for you? You might also have some ideas which might not be in this write-up. There’s no need to worry. You can contact us to guide you on how to leverage that idea into an income generating business that puts money in your pocket.
But whatever the case, ensure...
Are you starting your first business? You need to learn a great deal before you set the ball rolling. Learning enables you to become aware of the challenges ahead. You will be equipped to deal with many challenges and also avoid many painful mistakes that cost so much money.
Here are some of the lessons to learn before pouring your hard earned money into your business:
A polished business plan will not only help you achieve your business goals but also attract investors whenever you pitch to them.
Here is how to ensure you knock it out of the park:
To have a thriving business, you need to come up with brilliant ideas. However, suppose you have these ideas but do not know how to turn your passion into a profitable creative business? Execution of ideas is what matters than merely having them.
Your startup is bound to fail if you don’t follow the right steps to make your idea see the light of the day. Get the ball rolling by following these 7 simple steps:
Look around, you will realize that any profitable creative business is solving a particular problem. Customers go to them to have their problems solved. This blog post addresses your need for content about how to turn your passion into a profitable creative business.
Let your business solve a specific problem.
Facebook solved the problem of how people interact and connect. It’s now easy to create new friends and create profitable relationships across the globe due to Facebook. The company came into...
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