Why your business needs to do Ecommerce this Covid19 Season

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StrategyDriven Managing Your Business Article |Ecommerce|Why your business needs to do Ecommerce this Covid19 SeasonNo one expected a pandemic to happen this year. 2020 was immensely hyped as the year of growth – and yet almost everything came to a halt. Our mobility was reduced due to a majority of establishments closing down. Our day-to-day movements were also restricted due to strict safety protocols.

During this time, there was an increase in online consumer activity. People were relying on deliveries and shopping apps for their necessities along with other items. This has become a new habit that we have adopted. Especially now, this trend is continuing to rise upwards without any doubts that it will fade away anytime soon. A lot of businesses have already taken the chance to promote their brand on the digital platforms – where the audience is now at.

Using eCommerce websites, some businesses were able to survive when the pandemic hit our country. Physical stores had to close which heavily affected the flow of income. Until now, there are still health risks people consider before going outside, which means lesser foot traffic and profit.

If you’re still not convinced you need to have an eCommerce website, here are the reasons why:

1.The audience is already digital

Many countries in Southeast Asia, such as Singapore, are growing very quickly in their e-commerce market size. This shows that people have quickly adapted to the digital marketplace.

Besides the essentials, office and home-related products saw an increase in sales, as people had to make their space conducive for work, studying, and even entertainment (since social gatherings are still discouraged). Office staff began to buy items to work from home; students bought items such as desk lamps due to the restrictions in public libraries; others have bought gaming consoles and accessories as a way to pass the time and connect online with friends.

With these opportunities that have risen despite the restrictions, it can be said that the customers are not gone, but have simply migrated to another platform where your business should also be present.

2. A website is more sustainable than leasing a space

Since people are more active on the internet, and considering the ongoing pandemic, there is a lesser need to expand your store’s physical space. In fact, having a physical store nowadays could cost you more compared to the pre-pandemic period due to the mandated safety measurements.

Therefore, you should take this time to make your online presence more prominent. Here, we would recommend investing in a website, because you can use it in the long run. Even when the pandemic is finally over, you can run your eCommerce business there, and experts also predict that the eCommerce trend will be here to stay. Also, if in the future your business is able to expand to other countries, you have an already well-designed website to work with.

Also, a website is available for your customers 24/7 compared to a physical store that has a limited time to stay open. Your potential customer can send their inquiries or make purchases wherever they are, whenever they like.

If you are looking for a web developer, check out FirstCom Solutions here: https://www.firstcom.com.sg/

3. Have an analysis like never before

Once you have your own eCommerce website, there is an array of website analytics and services you can utilize to see how your customers are using your site. Using these tools, you will have a better understanding of your customers’ behaviors. You can also view your competitors’ performances, and create counter-strategies from those.

There are numerous ways to use your website’s data to your advantage. From discounts to special promos, you can target the market you want to penetrate more accurately with website analysis. You could see what products people are most likely to view but not purchase, and act on that data. You can also conduct affinity analysis more efficiently if you have an eCommerce website, which could help in creating cross-selling and up-selling strategies for your business.

This is a great way for you to be proactive in managing your business. Having data you can access whenever and wherever you please will help you improve your business.

Conclusion

It’s a no brainer that a business should always be open to changes and adapt. Even before COVID-19 happened, online shopping had already built its popularity. Now, it has become essential for businesses to have an eCommerce website of their own to survive and grow.

If you are a business owner who still doesn’t have an eCommerce website, there is still time for you to catch up. From the comfort of your own home, be secured in having income and proceed with business as usual.

Keep up with the new consumer mindset and move forward by having your own eCommerce website. Embrace the opportunities waiting for you in the digital platform.

What is an Apostille and when do I need one?

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StrategyDriven Managing Your Business Article | What is an Apostille and when do I need one?Apostille is what confirms the validity of a document in another country. But apostillization is allowed only for countries that did not participate in the Hague Convention in 1961. This method is considered simple and does not require much time. The participating countries must complete the legalization with the help of the consulate.

An Apostille is an international standardized form filling data on laws issued by an official document for presentation on the territory of countries that recognize this form of legalization. Today more than 80 countries are parties to this agreement. The purpose of affixing an apostille stamp (apostille) is to confirm that such a body exists in a given state, and it has all the necessary powers to draw up and (or) certify a document. The apostille confirms that the person acting on behalf of the state body and issuing the official document was authorized to issue it.

The “Apostille” stamp is placed only on the original documents of the state standard. Apostille is placed on official documents and (less often) on their certified translations only if they are intended for use abroad, i.e. in a country other than the one in which they were issued. The apostille contains the details prescribed in the Convention, does not require any other certification or legalization of the document, and is recognized by the official bodies of all states parties to the Convention. Apostille is issued by a state body, which is a higher authority of the body that issued the official document.

According to Article 1 of the Convention, the following documents are considered official:

  1. Documents emanating from a body or official subject to the jurisdiction of the state, including documents emanating from the prosecutor’s office, a court clerk, or a bailiff’;
  2. Administrative documents (documents on education, civil status, certificates, powers of attorney, etc.) ;
  3. Official marks such as registration marks; visas confirming a specific date; certification of a signature on a document not certified by a notary.

The apostille itself is a square stamp that includes information about the paper or document on which it is located. It should say about the name of the country in which the legalization took place, when and where the certification took place. You also need information about the person who performed this procedure, the name of the document itself and the date of its issue, and the name of the organization that carried out the apostille.

You can put such a stamp on papers from the registry office. These include a document confirming marriage, birth, or death, as well as a change in passport data such as first and last name. Also, it can be affixed on educational documents such as a diploma and certificate. This can also be done on decisions with sentences and other documents issued by the prosecutor’s office. Papers issued by a notary are no exception. This can be done on charters and contracts, visas and certificates of experience.

Sometimes the papers mustn’t be subject to apostille, because they are the property of the country where they were issued. These are passports, workbooks. To prove their experience, they use certificates that will be accepted abroad. However, it is allowed to put this stamp on their copies.

You can affix an apostille at the Ministry of Justice, Education, and the Ministry of Internal Affairs together with the Prosecutor General’s Office. It is also possible to do this at the Ministry of Finance and Defense. However, you should first check for corrections and inscriptions, because they should not be. It is also important to look at the correctness of the information on the document.

The apostille procedure is needed when a person applies for a well-paid and good job, leaves for another country for a while or forever. It is also needed when treatment abroad is required or when the preparatory stage of obtaining citizenship is underway. The procedure is required when a person participates in a lawsuit with a foreign citizen or adopts a child abroad. It is also necessary when obtaining a license to carry weapons.

So, apostillization is an important process that takes place in several stages. First, a copy or original of the document is certified by a notary, then apostille in the relevant authorities follows, then the text is translated, if necessary, and the signature of a specialist.

 

Strategies to Transform Your Small Business into A Large One

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StrategyDriven Managing Your Business Article | Strategies to Transform Your Small Business into A Large One

Small businesses play a large role in the world’s vibrant economies, as they employ many people and drive innovation and competitiveness. According to the US Small Business Administration (SBA), small businesses constitute 44% of the country’s economic activity. However, every small business owner’s primary goal is to have a company that expands and eventually becomes large and profitable. So which smart strategies can help turn your small business into a large one? Here are four points to consider:

1. Extend your market reach

Making your products or services available to new customers is a great way to expand your small business into a large one. New markets represent new customers, who also represent fresh opportunities for increased earnings. You should open stores in new areas to introduce your business to new customers. Experts also recommend targeting new groups in your locality who could use your products and services, aside from your regular customers. Finding and promoting new uses for your product also encourages existing customers to purchase more from you. Therefore, it would be advantageous if you extended your market reach to increase sales and transform your business into a more stable model. Over time, this stability will only lead to increased earnings that will transform your business into a large one.

2. Introduce new products and services

Many business experts agree that the business world is in constant flux, and as such new products and services are crucial to the survival of companies. Consider introducing new products and services that attract new customers and encourage your existing ones to buy more. Accomplishing this can be quite tricky, but with research and flawless execution, you could be on your way to bigger things. First of all, you must identify a pressing need through customer interaction, employee brainstorming, and personal research. Then, you must develop and test a product concept that meets this urgent need. Developing a good prototype is essential here, so reach out to experts to find out how it works and how best you can bring your ideas to life to permeate new markets.

3. Consider franchising

Research reveals that 80% of McDonald’s locations are franchises. Franchising is a useful tool that you can also leverage to transform your small business into a big company. As your small business begins to experience success, consider licensing your branding, business model, and processes to others who will market your products under your brand name. Franchising has many benefits that should make it a vital consideration in your business expansion plans. Firstly, it can substitute capital acquisition as a less risky and more cost-effective way of business expansion. Franchising also gives you more motivated unit managers because your franchisees are business owners themselves with a vested interest in your business’ success. It facilitates faster growth because you team up with already successful companies, which catapults you to a market leadership position within your industry ahead of your competitors. You should see franchising as a way to increase your business’ profitability, penetrate new markets, and transform your small business into a large company.

Six Ways A Small Business Can Use Outsourcing

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StrategyDriven Managing Your Business Article | <img class=As your business grows, you will find yourself tackling problems that are possibly further away from your core skillset, this is completely normal, and often when the business starts to utilize outsourcing more.

These tasks are the tasks that take you away from your core skills and require you to spend more time than you need on learning new skills that are only linked to a limited amount of functions. For example bookkeeping or payroll. These are functions that are a necessity, however, unless you have experience in these areas you may spend valuable time away from aiding your business to grow.

It’s essential for you to outsource tasks such as these to people such as Digital Goliath Marketing who are able to manage your work efficiently, leaving you with less stress and hassle to have to do it yourself. There are many occasions where it is more sensible and worthwhile to outsource. In fact, it’s not realistic to handle everything in-house for a modern business.

Bear in mind that whilst outsourcing is efficient and necessary, you should always keep your core business functions in-house. That means that you don’t need to outsource anything that your skillset covers already/

Let’s have a look below at some of the areas you may want to think about outsourcing:

Legal Requirements

Every business will have legal requirements, and this is usually the first area that gets outsourced. Hiring an in-house lawyer can be extremely expensive, and there is often no need to have one employed all the time. Most businesses can’t afford to have their own legal department, so you need to outsource. There are many ways you can source legal services such as:

  • Find one lawyer to deal with all your legal requirements.
  • Use a freelance lawyer or solicitor.
  • Use different lawyers or solicitors for each aspect of your legal needs.

Administrative Duties

Did you know that your employees could be spending around 40% of their working ay just on administrative tasks? This means that a huge portion of their day is spent completing repetitive and time-consuming tasks that are easy to outsource and train people on. It is a sensible choice to outsource these tasks to someone who would possibly charge less for their time than yours or your employee’s costs. Especially if they are highly-skilled staff members.

Remember you shouldn’t be outsourcing your core business functions, however, you can outsource parts of your core functions like the admin. Build processes and systems to ensure that the outsourcer can support you well.

  • Some of the outsource administration you could consider are:
  • Surveying, polling, and focus group tests.
  • Data collection and research
  • Travel arrangements
  • Compiling reports
  • Virtual assistant
  • Document management and organization
  • Calendar management and organization
  • Customer service emails
  • Social media posting/management
  • Preparing and taking notes
  • Transcribing audio or video
  • Personal errands (so you can spend more time working)
  • Editing/proofreading

Financial Management and Bookkeeping

It’s far wiser to keep your account organized as you go rather than leaving them until the end of the year. If you don’t keep an eye on your finances, then you could be making an expensive mistake. You could use cloud-based accounting software to track it yourself, however, working with a bookkeeper is probably easier. All you need to do is send your bookkeeper all your data and they will organize it for you. They also send you back whatever types of reports you like.

It can also be handy to have a contact for any questions you may have about the business finances, based on your circumstances. It certainly never hurts to have a financial expert that you can contact and work with. When it comes to completing your taxes at the end of the year, a bookkeeper will eliminate that stress. All you need to do is give your account access to your accounting firm and they will deal with the rest. If they require any information from you they will just ask for it.

Lead Generation and Marketing

Marketing can be challenging for small businesses. It can be easy to market yourself when you are slow, however, if your business picks up, marketing can get left behind. This can’t happen, your business will only slow down again if you neglect the marketing of your business and brand. Marketing is how you are going to grow your business, therefore, you need to ensure you have the time to make a commitment to it. Even if you outsource your marketing, though, you still need to ensure you have heavy involvement in it. You could choose to use a complete marketing service that deals with the management and social media or you could choose to outsource to several different freelancers, it’s really down to what works best for your business.

For example, you may prefer to have someone in-house dealing with the articles and information that is allowed on your website, but you are happy to outsource content creation to a content marketing agency. If you would prefer to manage your own marketing strategy you could choose to use consultants or freelancers to complete bulk work but oversee it yourself.

IT Services and Technology

Regardless of whether you are tech-savvy or not, it is usually simpler to let someone else deal with your technology needs.

Many technology duties come tagged with a steep learning curve. Therefore it may not be worth your time to learn how to web develop, code an app, migrate your information to the cloud, optimize your website, or implement two-factor authorization for your data. The cost it would take with regards to your time to handle your own IT needs is probably more expensive than if you hired an outsourcer to do this for you.

For example, you could choose to manage your own website, but do you know how to safely move your files around your host? Backup your site? No jow to migrate to a new host? Or, Set up cybersecurity? They are most certainly all doable, however, they could cost you a huge amount of time. If your skill doesn’t lye in this area, then you may be better off outsourcing your IT needs. Yes, you will pay more than just hosting space, but your time is valuable and it could save you money in the long run.

Before you opt to outsource certain IT tasks though, you should also have a look to see if there are any tools that could do it for you rather than paying an outsourcer or in0house team.

Human Resources

Human Resources suits can definitely take up a lot of time, especially as your business and team grow. Each time you recruit a new person, the obligations in the human resources department only grow. On top of this, if you mishandle any human resources such as payroll, firing, ot hiring a poor employee, it can cost you money, create an array of issues, and even see you facing a lawsuit.

Depending on your businesses needed, you may choose to outsource your human resources to one provider or several smaller ones. For example, you may use recruitment agencies for any talent searching, a payroll company to ensure your staff is paid correctly and on time, and a PEO to manage any benefits. As well as this you may also want to make sure you have access to legal advice relating to anything involved with human resources.

These are six areas that you may want to consider outsourcing as a small business. Is there anything that you already outsource? Please share some of them in the comments section.

Technology Adaptations for Your Business

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StrategyDriven Managing Your Business Article | Technology Adaptations for Your Business | Business Technology

Managing a business is hard to do, but this year has been especially hard. With the normal tasks of creating a social media strategy, managing employees, and tracking data and finances, there have been a lot of upheavals and needed adaptations. A business may have needed to be done remotely or adapted to fit safety protocols. A lot of the needed adaptations needed require technology updates and fixes. Here are a few ways you can adapt your business using technology to keep up with the changing world.

Working Remotely

There has been a greater need to have employees work from home where possible. This can be better facilitated through technology like laptops, communication software, and other software that allows employees to access their work files and documents from home.

Another important aspect of working remotely is finding a good way to still hold necessary meetings. There are many different platforms that allow for video conferencing meetings. Some companies that have some employees working in the office and others working at home use Zoom Room Equipment to set up a designated room to use for online meetings with their remote workers. This helps to cut down on time needed to set up for meetings and other technical issues that can delay schedules.

Project Management

When everyone is working in different locations, it can be difficult to ensure that tasks are completed on time. You may have problems with people duplicating work or tasks getting forgotten due to a lack of good communication.

Project management software like Asana or other options can help you set up tasks, due dates, and assignments all in one place. Giving everyone access to the projects they work on will help the entire team be informed of the current status of the project and what needs to happen next to reach the goal.

Cybersecurity

Remote working is great for many reasons, but it can also open up the door for cyber attacks on your company if you are not careful. Employees may rely on public internet connections, or online storage solutions may be utilized to help gain access to important documents from different locations.

It is easier to provide security to an office location because you can lock the physical office that contains the servers and use closed networks with added layers of security. These are not possible when you have remote workers.

Investing in increased cybersecurity measures is crucial if you are going to keep your business safe. Virtual private networks (VPNs) and data backups are both essential for remote working. You should also stack up against your security by using multi-factor authentication, real-time security monitoring, and cybersecurity software.

Performance Tools

It can be hard to manage employees when they are working remotely, and that can make performance reviews unsubstantiated and flimsy. Using performance tools can help to give your employees concrete expectations and goals they can follow, and it can also give you usable data to help increase engagement and provide targeted training and feedback.