Bizzalley's Business Q&A
Bizzalley's Answer-Take good care of your employees and they will take care of your business. It is that simple. The holidays are a time to celebrate and show love to people we care about. Getting your employees holiday gifts will show them that they are valued, hence keeping them happy enough to show more commitment. The good news is that you don't have to invest so much on this. When it comes to holiday gifts, it's not about what you give but rather, the fact that you're giving.
Q)Do I re-invest my profits?
Bizzalley's Answer-This entirely depends on how much profits you're making from your business. If the numbers you're raking in as profits are decent enough, then it is imperative to re-invest some of that money. If your profits are not all that encouraging, then you may decide to wait until you're making more. The truth is, if you ever want your business to grow but wish to run a self-sufficient business model, then you will have to save up part of your profits for re-investment. The good news is that you do not need to re-invest everything you make. Saving up some part your profits should be enough.
Q)How do I prevent my business from suffering if I travel?
Bizzalley's Answer-No doubt, traveling often is bad for businesses, but if you need to make that trip then you should be certain that your employees are capable of handling your business while you're away. This is not just something you try to do today because of you're traveling next week, no! You should ensure that you take the time to invest in your staff. They may one day decide to become business owners like you so they ought to learn how to run a business while they
work for you. Treat them as if they're apprentices learning from you. When you need to travel then you can decide to hand over the management of your business over to your most trusted and efficient employee.
Bizzalley's Answer-Well, your employees do not have to like you. 70% of the people around the world who has a job probably hate their bosses. This is not always because the boss is some cruel beast, but mostly because they are hard asses who will not take any form of lousiness from their employees. So, if your employees hate you, then it's probably because you are trying to keep everyone on their toes and that is fine. However, it is possible to be nice and have your employees do right. There are still plenty of bosses around the world who are well liked by their employees. It really does depend on your workers. If they won't take your niceness for granted then it's cool, if the reverse is the case then you should not hesitate to turn on the heat a bit.
Q)How can I make my customers refer other customers?
Bizzalley's Answer-There is no one way of doing this. You can do it directly or indirectly. Directly by asking them to help urge their friends and family to come to do business with you. But this will require you to have a decent relationship with your customers. You can also do this indirectly by making sure the quality of your products or services is good enough to speak for itself. If your customers are happy with what they get from you, then there is no doubt they will mention it to a friend or family member who is looking for a product or services that is
similar to what you offer.
Bizzalley's Answer-You're always going to have a problem or situation you are currently dealing with. If you are going to allow your personal issue to shut down your business for a period of time then you may as well just stay in your couch and waste the rest of your days deciding which TV show you should see next. If you're not in the right frame of mind to be at work, it's okay to take a day off and let your employees handle the business for the day. However, you should try to make sure your personal issues do not stop your business from going on.
Bizzalley's Answer-You will find people around the world who will tell you nothing is impossible, but if you're a small business owner and you're aiming for a million dollars on your first year, then you have
to be extremely good at what you do or your business has to be some money-spinning enterprise. Realistically, the chances are low, but it is not impossible. It will depend on a number of parameters, including how lucrative your business is, how much hard work you put into it, how much " business sense" you possess and how quickly and regularly you are able to bring in clients or customers.
Q)Should I allow my employees to have romantic relationships?
Bizzalley's Answer-Many companies frown at workplace romance and rightly so. There is no telling how bad a fall out between the two parties could affect their abilities to work as a team. What you want is for your employees to be 100% focused on their jobs once they walk in every day. This
cannot be guaranteed when they engage in romantic relationships. They may swear it will never get in the way, but you should not take chances. The truth is that these things are almost inevitable and the chances are that one or two relationships might spring up, but you should make it clear that they are not officially allowed to have romantic relationships within
themselves.
Q)Should my business operate on cash only or should I accept other methods of payments?
Bizzalley's Answer-Err no! There was a time when businesses operated on a cash-only basis, that time is not now. It is true that some of the new ways of making payments are susceptible to fraud but we live in a world where you get to buy almost everything with your credit card. Nobody likes to walk around with cash in their pockets these days. So if you do not want to lose your customers, then you should not opt for a cash-only business model.
Bizzalley's Answer-The key to expanding your business with limited resources is patience. You may start by improving certain departments instead of going for a full-fledged expansion. Growing your business will require that you invest a lot of capital and if you are not sold on a self-sufficient business model then you can decide to take a loan. A loan from friends, family or a bank will go a long way in helping to make that much-needed expansion.
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