The Crippling Pressure Of A Business

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StrategyDriven Entrepreneurship Article |Running a Business|The Crippling Pressure Of A BusinessRunning a business is one of the most stressful things that a person can do. Unless you have an already set up business passed down to you, then starting from the bottom is risking it all. You will have most likely dropped out of the job you’re doing to set up your own business, thrown your life savings into it, and will probably feel like you’ve already thrown a lifetime worth of effort into it as well. And things don’t get easier as it goes on. In the back of your mind, you’re always going to be aware of how much is riding on this business venture of yours, and you’ll always have so many things being thrown at you to try and deal with. So in the long term, the pressure of a business is going to be crippling, and there are so many things you can do to try and relieve it, or at least take some of it away. If you really want to be in it for the long run with your business, it’s something you’re going to have to learn to deal with early on! So here’s how we think the pressure of business can be crippling, and how you can take it away!

Where So Many Business Owners Are Lead To

The crippling pressure of a business can lead business owners to a dark place, and that’s what we want to talk about first, because we know how serious it can be. So many turn to things like alcohol and controlled drugs, just to get them through the day without a break down. But this so isn’t the right life to lead, and this agency could be the organisation to help you if you ever feel like you’re going down this dark road. There’s so many ways to cope with the pressure, and in fact if you’re turning to alcohol and drugs, then it might be time to realise that business is just not for you at all! More so, if you find that your alcohol intake is turning into a dangerous addiction, be sure to find out about alcohol abuse disorder and it’s side effects.

The Severe Stress & Anxiety

It’s no secret that there’s a lot riding on the business that you have created. As the months go by, more and more builds on that as well, until you feel like the weight of the world is on your shoulders. And the severe stress and anxiety can be crippling for so many business owners. It can often feel like you have no one to turn to as well, because all people ever expect you to be doing is great, and you build up this though in your head that if you aren’t doing great, or if you share your emotions, then people will think you’re failing. So if you’re a business owner and you feel like your anxiety is through the roof, and the stress is just crippling you, then you need to follow our advice… go and talk to someone!! There are so many professionals that you could talk to in private, and we just think it’s so important that you do! There’s nothing more important than your health and your mental health, so always put it before your business!

Singapore’s Employment Pass – How Difficult It Is to Get One

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StrategyDriven Tactical Execution Article |Work Visa|Singapore's Employment Pass - How Difficult It Is to Get OneAre you planning to work in Singapore? If so, you will need an employment pass that corresponds to your skills and qualifications or the job you are interested in. Although Singapore has tried to make it a straightforward process, some people still find it a hassle. So, it is good to know how difficult it is to get an employment pass.

The truth is that the Ministry of Manpower in Singapore does not approve all of the applications. So, it is up to you and your agent to make a compelling application. Usually, the credibility of the hiring company and the individual will play a significant role.

Important Things During the Application

The MOM will factor many things before they approve your application. They may look simple, but they have a considerable amount of weight in making your endeavors a success.
They primarily look at the following:

  • Work skills and experience.
  • Personal details: citizenship, age, education, and current salary.
  • Whether or not it is possible to get local manpower under the same category.
  • The reputation of the company that is willing to hire you.
  • Your criminal records.

There are many other details that must be filled out in the application form. A reputable migration agent like Visa Express Singapore should help you fill out the application form honestly. What they should do is ensure that you qualify to avoid disappointments when feedback is given. If all is well, there is no need to get worried as the MOM will make a fair consideration.

Things That Will Make Your Application Get Rejected

There are many things that can make the application get rejected. Some may not be within your control. If the MOM has already processed enough EP passes, they might reject any other applications that are put on their table. This is a regulation that allows the locals to get a fair share of the jobs in Singapore. However, opening for foreigners are almost always there since more businesses and companies keep on opening. Also, there is a need for more labor that must be sourced from abroad.

Making an application without the right qualifications may lead to the rejection of the application. If the agent is proactive, they should help you to downgrade to the S pass if that is what you are eligible for. The good news is that you can grow your career by going back to school in Singapore and later upgrading to the EP.

How Agents Help in the Success of EP

From the beginning, it is highly recommended to use agents with enough experience in dealing with work visas in Singapore. You can easily find one online if you check well. Their job is to assess the possibility of succeeding in this application. It is crucial that they go through the form before they submit it on your behalf. They also check whether or not all of the supportive documents are attached before sending it.

If there is a rejection, they will go through it to ascertain what the problem was. In some cases, they can lodge a complaint with the MOM, especially if they feel that you should have qualified.

5 Business Benefits of Good Health and Safety at Work

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StrategyDriven Human Performance Article |Health and Safety|5 Business Benefits of Good Health and Safety at WorkInstilling good health and safety practices in your workplace is essential. In fact, it should always be at the top of a business’s priorities, even if the industry your business is part of isn’t considered to undertake high-risk activities.

Failing to put in place appropriate health and safety measures can have serious repercussions that may negatively impact the overall success of your company. To emphasize more, this article will take you through the 5 business benefits of good health and safety at work that you should know about.

1. Save more on legal and insurance costs

It’s generally a bad idea for your business to be in and out of courtrooms due to scenarios that might have been avoided in the first place. Having said that, accidents at work can turn out to be very expensive in terms of legal fees, compensation payouts, fines, and remedial action required. If you properly train your employees on the importance of maintaining safety at the workplace, the possibility of having any costly accidents are greatly reduced.

2. Increase productivity

Good health and safety can also increase the overall productivity of any business. With proper measures in place, your employees will be able to carry out their jobs more efficiently, while remaining safe. This is because their morale will be highly uplifted knowing that they have very little to worry about concerning their health and safety at the workplace. I’m sure you’d like your employees to leave the workplace in the same healthy condition they arrived in, right?

“Back in the day, if there was an accident or health and safety issue in your workplace, you may have opened a filing cabinet to follow the paper trail. Those days are gone”, says David Rowland, head of marketing at Effective Software. “This is because the software has now become the dominant way to administer health and safety systems, and this can save your business time, unnecessary losses and, in the end, money”.

3. Enhance reputation

If your employees feel that you care about their health and safety, they will probably tell people about it. In the end, you’ll have more competition for employment spaces, and most importantly – more people will get to know about your brand (products or services).

For instance, let’s say you work as a call center agent in Company A, and as a result of work, you develop a throat and voice problem. Since you’ve made it a habit to call your mum after work, this time you simply text her and tell her that you can’t speak on the phone due to a voice problem you got from work. In the end, your mum might get a feeling that the company you’re working for is very irresponsible, and even go on to tell a friend about it. Word spreads around, and before you realize it, people don’t want to work for that company or buy its products.

4. Reduce absenteeism

Injuries or illness as a result of poor working conditions is arguably the main cause of increased employee absenteeism. For instance, if an integral staff member develops a more severe problem that requires an extended sick leave or time off, then you’ll definitely have to hire a new employee. Alternatively, you can choose to train someone within the company to take over the post. In as much as this is a step in the right direction, recruiting and training someone new will certainly cost you money. Don’t forget the amount of sick pay that you’ll have to pay the sick staff member.

5. Retain loyal employees

If your staff members feel valued by your company, this will most definitely make them happier at work. As a result, none of your employees would like to quit and work for a rival company. After all, who wouldn’t want to work for a highly reputable and caring company? Certainly not me!

It’s important that both you and your staff members are properly protected from injuries or illness at the workplace. By taking the necessary steps to safeguard their health and wellbeing, your employees will be far more inclined to focus on ensuring that your business succeeds. That’s why it’s important to remember the aforementioned business benefits of good health and safety at work.

Strategy as a Problem Solving Process

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StrategyDriven Decision Making Article |problem solving |Strategy as a Problem Solving Process“The old paradigm of strategy departments and planning cycles has been overthrown by agile and rapid team-based problem solving, providing better solutions and better organization alignment to implement.” These comments by Mehrdad Baghai, strategist and author, commend our book Bulletproof Problem Solving: The One Skill that Changes Everything. But what does it mean to adopt agile and rapid team-based problem solving, where strategy becomes a problem solving process?

Teams and agile methodology have become the dominant form of organization for environments featuring high uncertainty and rapid change, where business models are challenged by disrupters. In these settings the most effective teams follow the 7 steps process for bulletproof problem solving, by asking themselves the following questions:

1. Are we working on the right problem? Defining a problem well is often said to take you more than halfway to the solution. This invariably leads to a clear problem statement of the challenges you have to address, the decision context, problem boundaries and success criteria.

2. Have we broken down the problem into key issues to address? Complex problems can rarely be solved without breaking the larger problem into parts. How you disaggregate or cleave a problem has a big impact on the insight you get into a problem. We show numerous examples from return on invested capital logic trees, to logic trees that help you decide whether to put solar panels on your roof.

3. Are our priorities for analysis the right ones? For efficient use of team resources you need to be working on the issues where the impact is high and you have a significant ability to influence the outcome. This may require a lot of debate in the team. That’s important too.

4. Have we brought outside perspectives and diversity of views to bear in the team? We urge teams to have hypotheses about the answer but open them to challenge in the team, by having diverse perspectives, role playing and actively tapping expertise outside the team. Really good teams porpoise frequently between the hypothesis and the data, sharpening the hypothesis along the way. The data comes in the form of facts and analysis. Yes facts and analysis still make a huge difference to problem solving outcomes.

5. Do we have the right analytic toolkit for the problem? Teams will, and should, make use of heuristics and rules of thumb to scope problems and knock out infeasible solutions. At times, to solve a problem involves understanding root causes or predicting an outcome. That’s when you have to bring out the analytic big guns such as regression, simulation, A/B experiments and machine learning. You can even crowdsource your solutions with Kaggle competitions.

6. Are we carefully synthesizing our findings? We like the way the successful investor Ray Dalio expresses it ‘The quality of your synthesis will determine the quality of your decision making.’ The process we follow is to draw together findings on the key issues into an overall picture, ideally with visualization to show linkages and highlight key drivers or root causes.

7. Have we presented our findings in a compelling narrative that is likely to lead to action? This final step is so often underdone and the source of team disappointment. Doing it the right way involves choosing a governing thought from the synthesis, accompanied by a logical argument structure that may be based on inductive or deductive reasoning.

When this process is complete, teams have reached the holy grail of strategy as a problem solving process as Richard Rumelt put it in Good Strategy Bad Strategy: The Difference and Why It Matters. Rumelt succinctly describes ‘a strategy is a coherent set of analyses, concepts, policies, arguments and actions that respond to a high stakes challenge.’ We agree and know that the way to get there is through a 7-step problem solving process.

About the Author

StrategyDriven Expert Contributor | Robert McLeanRobert McLean is co-author, with Charles Conn, of Bulletproof Problem Solving: The One Skill That Changes Everything (Wiley 2019). McLean is a Director Emeritus of McKinsey and Company and led the Australian and New Zealand McKinsey practice for eight years.

Master These Vital Aspects To Digital Marketing

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StrategyDriven Online Marketing and Website Development Article | Master These Vital Aspects To Digital Marketing | Digital MarketingYou really can’t expect your business to get far at all without a good, strong focus on digital marketing. Any digital marketing campaign you have will need to have a lot of focus and drive behind it, and generally you will find that it is important to make sure you are putting whatever effort into it you are able to. Digital marketing will prove to be an essential aspect to running your business and ensuring that it remains popular and continues to grow. But what do you need to think about in order to make sure that you are approaching it in the right way? In this article, we will look at just a few of the essential things that you need to do as part of your digital marketing campaign. As long as you are focused on these, you will be moving in the right direction.

You really can’t expect to get anywhere at all without a decent website, and in fact it is worth putting a good amount of your energy into this before you do anything else for your marketing efforts. The website is where it all comes back to, and as long as you are happy with that you will find that you are going to have much more success with your marketing overall. A good website needs professional designers to ensure that it is operating properly and working as well as possible. Fortunately, these days it is easy enough to find affordable web design which is going to work out well for you, so you should be able to do just that. With a website which you are happy with, you can then start to look at some of the other vital elements to digital marketing.

StrategyDriven Online Marketing and Website Development Article |Digital Marketing |Master These Vital Aspects To Digital MarketingSocial Media

You will find it is essential to have a good grasp of social media if you are to market your business online successfully, so make sure that you are looking into this as early on as you can. You will want to start building a following on Twitter, Facebook and the rest as soon as possible, and it’s important in particular to focus on actually having decent conversations with people on those platforms. If you do that, and develop a branded voice in doing so, you will find that people are much more likely to respond positively, and this will have the kind of effect that you are hoping to have for your digital marketing. Social media is incredibly powerful, so make sure that you are thinking about this.

PPC

Finally, it’s important to remember too that there are some ways of approaching digital marketing which have a more traditional advertising feel to them, and one in particular you might want to focus on is Pay-Per-Click advertising. This is essentially where you have a banner on websites which people click on to get through to your website or a particular call to action, and it is amazing how effective this kind of method can be. Be sure to make use of it, and you will find that your business has much more chance of success.