Tips & Advice

If you have recently started your business, you may have some difficulties in managing issues related to personnel. One of the most complex points is when a person believes that they should be paid more, and therefore asks for a pay rise. Here are some clues to these situations.

Have clear market salaries

The first thing to know is how much to pay your employee and what they would expect if they were working for another company. There is no exact number, but you can get an idea by talking to contacts in other companies, looking at job ads or having a conversation with a recruitment agency. It is important to know as a starting point if your employee is claiming under or above the average wage, or if your salary is the usual amount.

Listen to your employee

Before making any decisions, take your time in a long conversation with that person. Hear what they have to say. Chances are, their main motivation for asking for a raise is the money, but they may have other issues that maybe you can easily fix. If you cannot offer a raise right now, improve other aspects by sitting down and chatting with your employee confidentially.

Analyse all aspects of the situation

What can happen if you accept the pay rise? There may be a domino effect with other employees also asking you for one, which may or may not be fully acceptable in your budget. On the other hand, if you do not agree, you may find that your employee will be discouraged, or even decide to leave to another company. No one is indispensable but some people are more necessary in an organisation than others, and may have an impact.

Never give in to blackmail

One of the arguments that you can find in these situations is that if you do not give the increase, the employee will leave. This can also be interpreted as blackmail. Usually yielding to this type of confrontation is not very helpful, because you can give a person the feeling of omnipotence, which can generate more conflict in the future. If it reaches a breaking point like this then it is better to let it go.

Is it deserved?

If you ask for a raise, maybe it's because you have failed to reward those who are more committed to your business. It's hard to be objective in these matters, but look at the work achieved by each, and seek to give raises to those who really are providing value to the company. If they see that their work is rewarded fairly, it`s an incentive to continue on that positive line, and peers may also become more motivated.

Looking for alternatives

If giving an increase right now is too risky given the financial situation of your company (very common in businesses just starting), look for alternatives to reward those that deserve it. For example, you can think of basing it on the results of the company or having strategic objectives incentives. In some cases, with key employees, you can even imagine sharing the capital of the company. In this way, everyone works toward the same goal: increase the value of the company.

Technology has become one of the guiding principles of the current corporate scenario. This is demonstrated by the exponential growth of e-commerce and electronic payment. In this context, the way we do business has changed and so too the mechanisms of interaction between companies, customers and financial institutions.All business owners are obliged to adapt their processes to new technological trends if they want to capitalise on contextual opportunities and transcend in a highly competitive world.As for electronic payment, there is data that predicts a more intense use of credit and debit cards as a transactional instrument. The proliferation of tools like Point of Sale (POS) and Mobile Points of Sales (mPOS, POS Phones) being examples, especially in the segment of small and medium enterprises (SMEs).Analysts have shown particular interest in mPOS, as they are an evolved form of TPV and allow businesses to run their operations through a smartphone or tablet.This gives them an important cost reduction, dissociation of physical space and openness to a growing market for cardholders, whose activity has increased over the past eight years. Basically transactions will be made at any time and place.But these are not all expectations for electronic payment methods. Technology and finance specialists point out that in the short term, contactless payment systems without physical-card-reading contact and Near Field Communication (NFC, Near Field Communication) will be consolidated, with which they interact directly with a terminal NFC and a smartphone.Electronic means of payment and electronic commerce have maintained a positive trend in recent years. In the immediate future of e-commerce, the growth was in double digits, but this continued development will depend essentially on three factors: first, that businesses and users give greater certainty about their online transactions; two, that the acceptance of debit cards in digital operations is maintained and three; that companies develop and promote friendly and efficient applications for mobile use.

One of the challenges for startups and companies today is to facilitate the coexistence and collaboration of several generations in the same virtual workspace. The question is: how to make different ways of thinking follow the same direction?Today, at least four generations share the same workspace: Millennials, Generation X, Baby Boomers and Traditionalists. Each has features and diametrically opposed conceptions of the world, but at work, they must combine their skills and talents for the success of the company for which they work.This raises the importance of such mechanisms as so-called 'mentoring schemes', which aim to build synergies between members of a company which strengthen their organisational culture. Also, it transforms differences into a competitive advantage and not a source of conflicts.The foundation of mentoring is to promote mutual learning; i.e. the more experienced colleagues infuse their knowledge younger staff, while they inject freshness and the desire to evolve.Overall, mentoring programs offer the following benefits:- Transfer of knowledge, values and efficient practices.- Accumulation of intellectual capital.- Speedy integration of new talent.- Retention of the human factor.- Cohesion of equipment and training of leaders.- Increased productivity.Therefore, it is essential that companies invest in a trained mentor, who not only has credentials in human management but who knows in detail how to advise businesses and industry.The tutor must work with those responsible for human resources in companies and preferably show the following qualities:- Listening.- Assertive communication.- Deep knowledge of guidance and motivation.- Knowledge of various industries.- Commitment to human development.- Experiences for sharing.If you have problems in your business to create bonds among your employees from different generations, you must remember that if your staff are not aligned with the values and goals of your company, it will struggle to succeed. This is because in the end its production capacity depends on the people within it.

Petty theft is a crime that causes losses in any business and can be performed by any employee, regardless of their level of seniority or their work role, so it's important to take extra care and control inputs in companies.There are two types of frauds that are committed within a company, which are categorised as: breach of trust and petty theft. The latter is a situation that is most often not detected until the end of the year when the inventory is made by companies.These thefts are committed not only by workers, but can also be made by visitors or suppliers; and areas more susceptible to these problems can be shopping, warehouse and production since that is where the raw materials and inputs of the organisation are managed.Petty thieves prefer to steal small objects, as these are easier to hide and are less likely to be picked up by surveillance. However, no matter how small the object, each item will have an economic impact for the company.It is vital that organisations work on their personal values and instilling a sense of belonging to the company, besides them being aware of the damage it can cause to their professional life should this action be discovered.Recommendations to prevent such theft in organisations are controlling the entry and exit of workers, provide uniform to personnel that do not have large pockets where you can store items. Also, preventing or monitoring entry with backpacks or bags to places where products are produced is a good idea.Moreover, it is also advisable to periodically perform an inventory of all furniture, stationery and cleaning articles of a company.

Detect the fraudster in your company with the following tips:

• Do not respect the office hours
• Leave work after everyone else
• They usually never take a holiday
• Work late on weekends
• They have an unreliable reputation

Today, work type and working environment have changed a lot. therefore, it is necessary for teams within a company to collaborate in new ways. This helps employees subjected to high amounts of stress to create and implement different things.According to experts, currently for a company to be successful, there is a need for innovation; however, the fact that their workers are not creative could stop their growth.Fortunately there are techniques that help improve the mood and performance of workers, which are directly related to fun, because when a person enjoys their work, they turnabout proposing new things.To do this, companies must make their employees feel confident to innovate and create fun in their environments.In the market there are already companies that do not require their workers to abide to a set schedule to work; i.e., they do not start and finish at rigid times every day, but are left to organise their time to work as they see fit, in order to meet their objectives.There are also companies that offer their workers a playroom in order to enable them to overcome stress and thus coexist with each other to achieve and establish new projects.Another way to achieve a friendly atmosphere is decorating the office with bright colours and funny pictures, in common areas where everyone can see them.The HR department from time to time should implement some dynamic activity with all members of the company, as this will be vital to promote integration and creativity of workers.Remember that the conduct in meetings where all your employees participate could enhance the sense of teamwork, generating an atmosphere of trust where you can be more fun and so innovative.

To think that small and medium enterprises (SMEs) have the infrastructure and financial characteristics necessary to export their products is overkill for some people, if not a pipe dream. However, despite the difficulties and scope, it is possible to achieve.In the first instance, it is prudent to note that within the SME segment, midsize companies (a workforce of between 51 and 250 employees) are more likely to export. This is because its corporate structure is better defined and allows them to envision a brighter future compared to small businesses.Here we present some concepts and practices to be considered by small and medium scale businesses to make their products penetrate foreign markets:Creating quality export products. The basic principle of an exporting firm is a product for its quality and freshness. To ensure these qualities, businesses must implement quality systems, whose functions in simple terms are eliminating unnecessary activities and the tuning of key production processes.Production capacity. Companies can capitalise in the SME segment by being more flexible and to more smoothly modify their production lines. This is important because when exporting products, companies must ensure double coverage: the domestic market and external.Leverage corporations. SMEs can place their products abroad with the support of exporting firms. This will provide access to distribution channels and marketing independently.Knowledge and expertise. Companies with export potential should have updated information on the behaviour of foreign market information. Also, to acquire the corporate, financial and legal expertise to deliver your offers in completely different national contexts.A great way to help SMEs comply with these requirements in foreign trade is outsourcing. Entrepreneurs in the small and medium sector have several options available. To choose the best option, you should explore and analyse each alternative according to the demands of their initiative.

When you start a business, and also later when you are consolidating, there is a question you'll have to ask often, and that is whether a task requires outsourcing or needs to be done internally. This is an important topic, because it has a lot to do with choosing the priorities of your business.

The classical company integrating system

Until recently, companies tended to integrate all possible functions. Obviously, that was a more pronounced trend in medium to large companies, simply because they had more resources and many of the support functions of the core business had a sufficient volume for one or more jobs, (payroll, travel organiser, equipment cleaning, photocopying service, a lawyer, an accounting department and many more.)

The trend: specialisation

Over the years, things have been changing gradually. Some services were outsourced before others. For example, instead of having a person on the payroll dedicated to organising trips, many companies chose to have a contract with a travel agency. In some cases, the agency placed one of its employees in the offices of the company, in others, it was all done remotely. As a result, not only did the company save resources, but benefited from the expertise of a specialist travel company.This same phenomenon has happened in many other support functions. Over time, companies have realised that it was more interesting to devote resources to core business activities (producing and selling, basically), while it saved time and worked better having specialised suppliers outsourced.

When to outsource and when not to?

The question is not whether to outsource some services or trying to do everything in procedure. Many functions have no other option to outsource because you have a sufficient volume of activity to have a person dedicated to it, albeit part-time. Then, even if you had the time, in many other cases you would be paying much more with outsourcing, and not benefit from specialisation with these companies.The real question is when you have to choose to outsource and when not. You should analyse which are the most strategic functions of your business. Essentially, you should take maintain a direct and immediate control over what constitutes the heart of your business. On the other hand there are many support functions that today cannot be outsourced because the volume of work involved is too small to interest a foreign company, even with new technologies emerging every day.

A recurring question

The issue of outsourcing activities or not is a question you have to ask regularly. The environment changes, your business changes, your priorities change. At some point you may decide to rethink an internal function you had outsourced because you decided it is more strategic now than in the past, and vice versa. Companies are living structures, and the model is changing constantly. There is no right answer forever. Everything is about adaptation.

Between 2009 and 2013, e-commerce has more than doubled. It has long since ceased to be a marginal sales channel, and has been integrated into our lives naturally. Even television ads now include many spots for all types of digital services. But how do you manage profit from this growth?

A market that continues to grow strongly

According to data, E-commerce has grown 22% more than the previous year. In all the years during the recession, the sector's growth has been in double digits. The lowest growth year (2009) still grew by 11%. This is proof that if you haven`t already, you should be getting in on some of the e-commerce slice.

There is scope for more

E-commerce still has the potential to quadruple in size given the current growth rates seen. The scope for e-commerce remains vast and as smartphone technology only increases, so too does the expectation of e-commerce as a mobile friendly facility. The trick is for you to take advantage of this and go one better than your competitors – don`t settle for second best, spend the extra money on getting a truly unique and fluid e-commerce platform up and running for your website.

Being present on the Internet is very simple

Today, there are no excuses. Anyone can start a website, the only thing stopping them are excuses. You don`t need a programmer to sort out your online business presence anymore. There are companies that provide you a hosting service with tools that allow anyone to create a site without technical knowledge. Even having a “turnkey” site and not having an online store with specific services will make life easier.

E-commerce has changed the way we buy

When I see that my parents' generation have become accustomed to looking for a product on Amazon and buy it online, I realise how far we have come in recent years. I still remember the sceptical comments when I bought my first airline tickets online many years ago. The forms of consumption have changed a lot, so it's important to have this in mind for the business you're thinking about promoting.

We live in a digital world, and new communication tools like SEO or strategies in social networks can make a big difference for start-up business. However, it`s easy to forget that offline communication can also be very important to your business. Here are some examples.

Your brand

Before you start talking about offline advertising media, I would emphasise how important your brand is, and to build it can be very interesting using some classic tools.The exterior decoration of your office, especially the signage is the first thing potential customers will see. This first impression can convince them to find out more.The business card is another classic tool that should not be neglected. You never know when you'll be able to talk about your business, and to give a card out is an excellent way this person with whom you exchange a few words with, can remember you and possibly contact you later.When you try to explain what makes your company, sometimes there's nothing better than a graph. A well-constructed prospectus can convey ideas in a much more powerful way than words.

Offline advertising

People have continued to see and hear ads through traditional channels, be it published or broadcast. The TV still has a large audience, much like the radio. It is true that newspapers have suffered, but they still remain considerably popular. But as an entrepreneur usually doesn't have the budget to advertise on television, radio or national newspapers, look into the vast array of alternatives.

Marketing strategy

The mailing, distribution of flyers or placing advertising on shop windows is still very effective methods to seduce a local clientele. Everything depends of course on the type of business you have, but for hotels, gyms, shops and local services for the public – this will work very well. In order to print these formats, you can come across good deals on the Internet and test online printing services.Sending letters by physical mail can also work very well, especially when targeted to customers who have already purchased products or similar services. This then means you can send a promotion or other important information.Advertising in trade magazines can be very effective depending on the sector too.Local advertising on radio, television, outdoor signs or local newspapers can also be very interesting if you have a local activity for the general public. In a big city, placing an ad in a tube station near to your business can bring in important clientele.You can also organise events, participate in trade fairs and conferences.All these options are part of your strategy of offline communication.

Seek the right solution for you

Clearly, if what you have is an online store, your main communication strategies are going to be through the Internet. But for a ‘bricks and mortar` business, offline communication cannot be underestimated. You have to proceed with a trial and error strategy, and see what works for you and what does not. You will have to try to associate and track each communication technique until you discover one that suits you best.

Imagine that you are starting a business or need to find the right site for a new store. How do you calculate the potential of each project? How do you determine if these projects are economic, financial, technical, legal and socially viable?A very useful tool for new business owners to help answer these questions is the feasibility study. Experts define it as the feasibility analysis of a project that aims to invest. It's essentially an investigation aimed at identifying the possibilities for an initiative to be executed and then to succeed.Indeed, it could be argued that any person or organisation wishing to realise a business proposal requires a feasibility study.

The reasons to support this argument are:

The feasibility study is key to quantifying the resources available and needed to implement any project.Facilitates the detection of activities essential to execute an idea and deleting unnecessary practices.It is essential to optimise costs and maximise the resources available to invest, from time to money, without forgetting the human factor.Defines the roles that members of staff accompanying the business owner play in the implementation and development of the project.Allows clarification of the conditions that the initiative needs to be profitable. That is, to produce the maximum benefit with the least amount of high-quality resources.

If you are creating a business for the first time, the feasibility study will help you:

1. Know in detail the environment in which your project will be developed.2. Define the nature of your initiative.3. Analyse your offer and make projections on the potential demand for it.4. Whether appropriate and sufficient tools are available to develop your business.5. Identify the financial requirements of the new business. Is there capital available to realise the project resources; to acquire assets; the relevance of specialised SME financing or other forms of bank credit, among other aspects.6. Setting prices and designing marketing strategies.7. Give legal certainty to the project.If you already have a business and are looking for new outlets, the feasibility study will allow you to find the best location and so on, based on your ability to do business.With it, you get relevant information about traffic flows of people, proportion of tickets generated, physical dimensions of potential venues, visibility, and accessibility, amongst others. Based on this, you can make estimates and projections of sales transactions.Small and medium sized businesses must often resort to specialised consultants for advice and guidance. The choice of companies involved in the execution of feasibility studies should operate on the basis of quality and of public recognition.Most importantly, you get tools to refine your project, and to increase your chances of success in a highly demanding business environment.