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Showing posts from April, 2016

Nuiz of the day

Image courtesy of Salvatore Vuono at FreeDigitalPhotos.net
The GDP of the Eurozone has improved. It grew by 0.6% over this last quarter. During the last quarter in the previous year it reduced by 0.5%. Thus, you can say it doubled its performance this quarter.

What segment of your business is performing well?

Hello readers, the Boston Consulting Group's  growth share matrix will be used to let you know what segment of your business is performing well, so what this matrix does is to compare the annual real rate of the market growth with its relative market share. An industry is said to be attractive when the rate of its market growth is high. The matrix is easy to use, so basically you look at the rate of the market growth of your product and you compare  it to the relative market share.
According to what I wrote above, if the rate of the market growth is high and the relative market share is low, then you can say the product is at its growth stage and you will just have to study the product to see if it can become a potential star. The income this product will be generating will be low. If the rate of the market growth is low and the relative market share is also low then it will be best to stop making the product as it will only be generating low and unstable income (if not losses).
How…

Financial advice for disabled individuals

An accident that has made an individual disabled could be devastating. Basically, I believe a disability should not stop you from achieving your goals. You should read my previous article on disability. When a disability occurs the first action you should take is to pray to Allah to give you a strength to deal with it easily. You should also see it as an opportunity to develop yourself. Its good to note that not all disability are permanent, so if that is the situation you should do everything you have been guided to do so you can be healed.
For individuals with a permanent disability that does not incapacitate you, sooner or latter you will get used to it. You could also go for counselling to help you deal with it adequately. Afterwards start to go after your daily life as you used to, keep working if you are employed and if you are running your own business keep doing that. That will support you emotionally and mentally. Self respect will also influence the way you treat others and t…

Understanding your target market

Hello readers, today I will be writing about understanding your target market. Basically, before starting your business you must have a target market. Some individuals start a small business without really understanding their target market. To be able to serve your target market appropraitely, you must understand it before even developing your products.

At first you must identify your target market. So how do you identify your target market? You will just have to think about the people that will most likely benefit from your products. It could a particular age group, it could be a gender, it could be a working class group. It could be based on the purchasing power of individuals. Secondary data could also be used to identify your target market by using data of those who make existing products that are similar to yours.

After your target market has been identified. Then you need the size of the market. Institutions  like The Office for National Statistics could provide you with data you …

5 daily routines to adhere to

Prayer
You should pray 5 times daily to Allah.

Exercises
This is good for your body and overall well being. 20 minutes of daily brisk walk is enough. It keeps you active.

Eating Fruits
Taking two portions of fruits at every meal will also keep you active. It is also good for your overall well being.

Drinking
Taking two glass cups of water at every meal will also help you stay active so you can deal with those business transactions.

Relaxation
All work and no play makes Jack a dull boy. As such, you should find time to always relax. You should not deprieve yourself of sleep as well, if you do you might not be able to deal with those business transactions when they occur.

Keep checking my blog regularly. Cheers!

Empowering yourself, leading to financial stability

Hello readers, do you know the most financially successful individuals are business entrepreneurs. Some nations are not as financially buoyant as others, as such as unemployment rate differs in different nations. Some individuals see unemployment as a problem; rather than seeing it as a problem why not look at it as an opportunity to start your own business. No business is built overnight, however, you can start yours. If you belief that you will start a business and be successful at it then you will, however, if you belief the opposite will come to past then it will.
Before you dabble into any business you must understand it, do not go into a business that you do not understand. Take time to understand it, and it must be something you find your passion in, so you can enjoy business tasks when they occur. Some individuals might find unemployment demotivating and may start to question their own abilities but I may have to tell you that Jack Ma went for an interview with 23 others and ev…

Making your business environment condusive

Hello readers, so today I will be talking about ways to make your business comfortable for workers. Really, when your employees are happy they deliver better results. At the end of the day it benefits both the business and employees when the business environment is condusive. How do we make the environment condusive, first of all the business must be kept neat at all times. It should be nicely decorated. That creates a nice ambience and make staff members feel good at work. When they feel good they will be motivated to come to work and deliver good results.
Okay, well that is just one factor, I will pick a good working relationship to a very beautiful office, and I assume most individuals will. As such employees must be encouraged and trained to be thoughtful of colleagues when dealing with them. They should be informed to treat colleagues the way they want to be treated, in other words treat each other with respect. A form of motivation could be introduced, for example an award could …

Calculating the UK income tax: Part 3

Hello readers, so today I will be showing how to calculate another aspect of the UK income tax. You should read Part 1 and Part 2 before reading this article.  The last tax year ended on the 5th of April, 2016. As such the rates I used in the previous articles are no longer applicable. A recent development has occurred with the dividend income. Dividends worth £5000 or lower are not taxable. The dividend tax rate for this present tax year are presented below. The new rates are                             2016/2017            Over £5000 Basic rate           £0 - £32,000                7.5% Higher rate        £32,001 -£150,000    32.5% Additional rate Over £150,000           38.1%
An example will help you understand what I presented above better.
Scenario 1 Morufat had received an employment income of £7000 and a dividend income worth £10,000.  
From the previous articles you should remember that you are always entitled to a personal allowance except you receive £122,000 or above.  As such, the…

Different styles of management to be used to implement changes

Hello readers, today I will be writing about how to implement changes. At times businesses do not perform well the way they envisaged they will, when that occurs, a change might be required in the business. To make the change possible, different styles of management could be used. Here are a few
- Managers can get employees to be involved in the creation of a new strategy for the business. This is because employees could resist the change and make it difficult for it to be implemented. However, when they become part of the change by contributing to the new strategy, they will be motivated to accept it easily, thus making the whole process smooth.
- Another method that can be used to implement changes is to delegate duties to senior employees like deparmental heads. Delegation will revolve around the formulation of the new strategy.
- Another way changes can be achieved in an organisation is by educating the staff about the change. Letting them know the reason behind the change, what goal…

Best places to visit this summer

1. Canada This country you could visit for summer. There are so many places that you can visit in Canada, from Alberta to Calgary to Manitiba to Toronto. However, if you are looking for a different experience you should visit Whistler, they have lakes, beaches and parks. You can go horseback riding, jet boating, tree adventures and much more.
2. France Paris the capital city of France you could visit. It is a beautiful city and there are so many places you can visit when you are in Paris. However, a place I will recommend you visit is the Seine, it is a river with a beautiful view, you can have a cruise on it at sunset.
3. Mauritius This is a countty located in East Afica, it is popular for its lagoons and beaches. A summer holiday in Mauritius won't be a bad one. Port Louis,  the capital city is the place to visit when you are Mauritius. It is located between the indian ocean and a mountain. Port Louis waterfront offers entertainment arenas, it also provides a place for shopping. Ther…

Before you decide to make your business global

Hello readers, so today I will be telling you few things to note before you decide to make your business go global. You have to make very smart decisions about your strategies and structure because once you go international they will always reflect in all the future strategies or business structure you develop. The moment your business goes international it will be difficult to change the whole strategy and structure totally.
Different multinationals have different strategies that they employ. Some multinationals try to tailor their strategies to suit the taste of nationals, meaning each country will have adjusted strategies to meet the needs of nationals. Some other companies look at their international counterparts to bring in new product development designs while others do all their research and development in their headquarters while they sell and distribute their products via subsidiaries. It really depends on what strategy that will suit the type of products you make.
Factors that…

Becoming an expert at promoting products

Hello readers, I hope you are great. Today, I will be writing about how to be an expert at promoting products. A research was conducted to come up with this. First of all, you have to store up enough information about the products you are selling. Most customers will like to know about the products you are selling, so you must be able to answer all their questions. That can only be achieved by storing more than enough information of the products.
To understand a product better, you can ask managers and distributors about the product. You can also conduct a research, asking existing and past customers about the product. The user feedback is always important cause it helps you understand the product better. When a customer is interviewed you can get to know what they benefit from the products and that can be used to promote your product. Do not ask questions like what do you think about the products. Ask questions like what do you like most about the product, that will foster some positi…

Style of Communicating in Business

Hello readers, the way you communicate with customers play a role as to whether your business will be successful or not. You should communicate with them effectively. A guy was trying to transport his baggage from one city to another, because he had food in it he was spoken rudely to. If it is against the rules of the company to allow customers to transport food then he should have just being told nicely. Companies should invest in training their staff on how to treat customers, because some of them apparently do not know how to treat their staff well. They say a positive attitude is contagious so staff should be treated well so they can treat customers well.
When you are communicating with customers you should listen to them carefully and avoid interrupting the conversation. Questions should be encouraged and answered carefully, remember no question is stupid. A feedback form can also be made available so they can contribute to the growth of your business. I also believe that customer…

Task of the month ( April, 2016)

Get a second source of income. When your source of income is diversified you increase your chances of winning. If one source of income goes bad, you have another source that will still be providing you with income, as such it will soften the impact of the loss of the other income.