Posts

Planning a Workplace Event

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  Hosting professional events is an important part of developing lasting workplace relationships which, in turn, are crucial for the growth of your company. Corporate events provide excellent opportunities to bond, not just with your colleagues, but also your partners and clients. Whether you are planning a picnic for 200 employees or a training session for 20, it is important that every aspect of the   event   is organized impeccably and in a way that maximizes the company’s ROI (Return on Investment). Hence, in this blog,   Tommy Shek   will discuss a few ingredients for the perfect workplace event. Planning a Workplace Event: Understanding the Purpose of the Event: As is the case with so many workplace initiatives, having a clear idea about the objectives is often the first key to success. Start by understanding the reason that you want to host the event and what you want to get out of it. According to Tommy Shek, identifying the expectations and goals will then allow you to determi

Ways to Save a Struggling Business

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  Let us first get the gloomy stay out of the way: out of all small businesses that fail, 82% do so due to issues related to cash flow. Some of the other reasons include: Starting with less than enough money Not having a strong business plan Getting the pricing wrong Being overly-optimistic Failing to recognize or accept weaknesses A lot of small business owners are already starting off with shaky knees and doubtful minds – which is why it is no wonder that they often throw in the towel at the first sign of trouble. However, as   Tommy Shek   discusses in this blog, entrepreneurs need to have the exact opposite reaction. Even if the odds are stacked against you, there are a few things that you can do to turn things around for your business. Ways to Save a Struggling Business: Identifying the Source of the Problem: Remember that there is no   smoke   without a fire and, if your business is struggling,   Tommy Shek   says that you need to identify the root cause behind it. Perhaps the re

The Most Common Myths about Entrepreneurship

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  Did you know that, as of 2020, there were 582 million entrepreneurs around the world? While some people launch companies to benefit from an opportunity, others take the entrepreneurial route out of sheer desperation or necessity. Regardless of their motivation or reason, all would-be entrepreneurs can benefit from learning what being an entrepreneur is all about.  A good place to begin can be with the many misconceptions and myths surrounding entrepreneurship – and, in this blog,   Tommy Shek   will list down and debunk the most common of those. The Most Common Myths about Entrepreneurship: Myth 1 – Entrepreneurs Are Born; Not Made: A lot of people assume that only people with certain innate talents and abilities can do well in the entrepreneurial world. This is far from true, and   Tommy Shek   says that anyone willing to learn the required skills can go on to become a successful entrepreneur. While it is true that certain people might find it easier to adjust to the role and respon

How to Create Mentally-Healthy Workplaces

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  An increasing number of   employers   are beginning to understand the importance of their employees’ mental health, and how it can affect their ability to produce, communicate, and feel safe in the workplace. As per the Center for Prevention and Health, substance abuse and mental health issues have an economic annual cost of between $79 million and $105 million. Reduced productivity, higher absenteeism, and greater healthcare costs are examples of how employee mental health issues can prove costly for companies.   For this reason, helping employees improve and maintain their mental health is one of the foremost obligations of any business person – and in this blog,   Tommy Shek   lists down a few ways to fulfill it. Ways to Create Mentally-Healthier Workplaces: Promoting a Work/Life Balance: Acknowledging employees who spend their days and nights working, or work from home even after leaving the office, is just going to harm your business in the long-run. A lack of work/life balance

How to Choose the Right Social Media Platform

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  Social media   allows businesses to develop brand recognition and stay in touch with their target markets. Other than that, you can use social media to create awareness about your offering, and even establish yourself as an industry authority. However, the vast number of social media platforms can make it hard for entrepreneurs to choose the right one(s) for the business. For such businesspeople, this Tommy Shek blog will cover a few ways of choosing the right social media platforms. How to Choose the Right Social Media Platform: Considering Your Audience: According to   Tommy Shek , when it comes to social media marketing, audience is definitely the most important factor. Nothing else – including the size of your audience – will be of value if your target audience is not active on your chosen platforms. For instance, Facebook might have more active users than any other platform but, if your target market is more active on Instagram, Tommy Shek says that that is where you need to be.

The Leading Causes of Employee Burnout

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  Employee burnout (or job burnout) is a unique kind of work-related stress, characterized not just by emotional and physical exhaustion, but also feelings of inadequateness and reduced accomplishments. Sometimes, employee burnout is also accompanied by a diminishing sense of personal identity. This kind of burnout is particularly prevalent in the developed world: according to a survey, approximately 50 percent of employees feel dissatisfied or overwhelmed with their jobs.   Employee burnout   not just affects the suffering workers themselves, but also has major repercussions for the organization as a whole, as it can lead to lower productivity, poorer customer experience, loss of revenue, and high employee turnover rates. For this reason,   Tommy Shek   covers the most common causes of employee burnout; by understanding the reasons that employees burn out, you will be able to proactively remedy some of them. The Leading Causes of Employee Burnout: Cause 1 – Inadequate Control: Accordi

3 Essential Skills for Entrepreneurs

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  An entrepreneur is someone who establishes and/or runs their own business. Since they own equity in the business, they share in the profits but also have to endure at least part of the losses.   Entrepreneurs   take many different kinds of risks, including the overall business risk, career risk, financial risk, and even emotional risk. Since the stakes are so high, it is important that every person looking to be an entrepreneur has some fundamental skills – a few of which   Tommy Shek   will be talking about in this blog.  The Most Important Entrepreneurial Skills: Skill 1 – Finance Skills: According to   Tommy Shek , a basic understanding of finance, including the ability to understand and analyze financial statements and budgets, is crucial for operating any business. Creating and sticking to realistic budgets is often the difference between a stable and failing business. Possessing financial skills will help you better allocate your company’s precious resources and avoid overspend