Business and Financial

Business and Financial -

A Guideline to Organizing Your Corporate Team Building in Singapore

The main goal of team building activities is to help each member in becoming cohesive individuals that can work efficiently together to achieve goals or to complete any tasks. Moreover, team building exercises are designed to help improve the team’s camaraderie so they can perform their duties better. In line with these, the team building […]

How a Virtual Assistant can Scale your Business

In the early days, the value of the Virtual Assistant was only recognized in reducing payroll costs. But as the world changed, so did the markets and more businesses saw greater value in acquiring virtual assistance. No longer were virtual assistants considered just cost-cutting measures; they became a strategic component in business development.

Here are five (5) ways in which a Virtual Assistant can help scale your business:

  1. Cost-effective option

Businesses hire virtual assistants primarily because of the cost advantage. Virtual assistants have flexible work hours and conditions. They are paid on a productive hour basis which means compensation is released once they have accomplished pre-determined milestones or projects.

Virtual assistants are also essentially self-employed; they are accountable for all the expenses they incur in the conduct of their business. Thus, you don’t have to allocate space for them, pay for their internet subscription fees or entitle them to benefits.

By hiring virtual assistants over full-time employees, businesses are estimated to save as much as 40% in compensation and benefits expenses. If the volume of your business has increased to the point that an additional unit of work will compromise productivity, it is time to scale up operations. Having the extra workload accommodated by virtual assistants will maintain your level of productivity with minimal incremental costs of business.

  1. Attend to specialized tasks

Gone are the days when the Virtual Assistant was just thought of as a home-based secretary or personal assistant. Today’s incarnation of the Virtual Assistant is more skilled and highly specialized.

The evolution of the Virtual Assistant was spurred by events that changed the global landscape. The business environment became volatile, unpredictable and chaotic that economies worldwide experienced down turn periods. Companies looked for new avenues to maintain productivity but streamline costs.

Virtual assistants grew out of the need to fill this demand for affordable but qualified talent. Today any task that can performed online will qualify for virtual assistance work. It should be of no surprise that you will find virtual assistants handling social media marketing, accounting, legal transcription and other diverse fields of industry.

If your business is ready to scale up, you can hire a Virtual Assistant to oversee just about any new area of responsibility.

  1. Improve time-management

With the Virtual Assistant, you can finally allocate more time to manage tasks that require your experience, expertise and core competence. In business, these are the tasks that contribute directly to revenue generation.

Virtual assistants perform a primary function of organizing your business. They are experienced in managing your calendar, scheduling your appointments and reminding you of forthcoming engagements ahead of time.

With better time management, you will be able to attend to more responsibilities. In the case of expansion, you will have more time allocated to planning, conceptualizing and testing business development strategies. The more tasks your business completes the closer you will get in achieving your goals and objectives.

  1. Improve efficiency

The majority of virtual assistants were full-time employees in traditional brick and mortar establishments before they made the transition to the online world.

Thus, they are highly experienced and require minimal training when working on a new project. You should allocate time for the candidate to become acclimatized to the Learning Curve which should slope to comfortable levels in no time because of their experience and level of expertise.

Put simply, you can accomplish more work faster with virtual assistants because you save time on training and allow the business to stay on-course the development time-table.

  1. Add flexibility to operations

As mentioned virtual assistants have flexible work hours. Since they are self-employed and work from home, the ravages of time and space do not apply to them unlike for full-time employees. They can work during the hours required by the client. This could be of great value if you plan to expand the scope of your business to the international market.

For example, if you are promoting your products and services to the United Kingdom, you can hire virtual assistants from the Philippines to oversee key areas of your business. You can have virtual assistants handling customer service after office hours in the United Kingdom to ensure each and every query and concern are immediately attended to.

Having a Virtual Assistant onboard will go a long way in helping your enterprise achieve new levels of growth.

Not only are virtual assistants cost effective but they contribute directly to the productivity of your business.

When you have a strategy that addresses your both your cost management and revenue generation concerns, you will have the best solution to the profitability equation.


Using Corporate Events to Reward Staff

Here’s a dilemma. You think your staff are wonderful. They have great knowledge, always teach new starters thoroughly, are highly commended by customers and have even been published in national, or even international, specialist journals thanks to their depth of knowledge.

How can you reward them without giving them a pay rise you can’t financially afford, but still manage to show them your appreciation? Just a thought – put them forward to speak at a study day or conference. Better still, arrange to organise one yourself and ask your incredible staff to present their brilliant ideas to the assembled delegates.

Study days are amazingly good for the profile of your company and your successful, knowledgeable staff. You have the chance to invite all your competitors to an event designed to showcase the combined knowledge of your staff. Delegates will normally expect to pay to attend, which offers a great fund raising opportunity for your nominated charity. Sure, you have to finance the immediate cost of the event, such as hiring a room or venue, catering (usually the largest outlay) and speakers’ costs, but the effect on your public profile is often worth the financial hit. Your suppliers may well be willing to put up some sponsorship and/or provide free merchandising for the chance to get their name in front of potential customers. Put a recruitment flyer in with the sponsors’ goodie bag for the delegates and not only will they have a free pen, lanyard and pad, but you may well find that dissatisfied staff from your competitors choose to apply to your vacancies next time they are advertised.

To make the conference go with an extra swing, you will need the services of a corporate events organiser. By working together on the day, your staff and the conference organiser can overcome most of the common issues which plague study days – technical glitches, boredom and catering mishaps being the most common – as well as face the unexpected questions which such events always throw at you. In addition, the experience offered by a corporate events organiser will pinpoint holes in your original plan and find solutions before your delegates point out a potential issue. Corporate events organisers have been there and done that, so the chances are that they have seen most mishaps and solved them too. They know who to ask and how to resolve everything from computer network connection failures to finding out where a delegate with specific food allergies can safely get lunch if it hasn’t been provided.

Hiring a corporate events organiser may well put a dent in your potential profit. But on the day, a polished, professional, problem-solving approach will pay off, leaving your delegates and staff with a far happier memory of their day. In turn, that is likely to polish the perception of your company, leading to heightened recruitment chances and a positive public profile. That looks like a sensible outlay to me.

Cost-effective Point Of Sale Singapore Small Businesses Should Know


Business owners, especially small business entrepreneurs know what it is like to go through the pains in choosing the ideal POS Software for their business. A lot of them made the wrong choices and in the end, gets to regret their investment.

Like any retailers, you might be struggling with selecting the right POS software for the type of retail business that you have. There are so many things that you need to consider and trying to wrestle your way with all the sales talks, not knowing the type of operating system to take as well as trying to figure out how to compare the different applications that comes along with each POS program, no wonder it is easy to get confused and discouraged. You’d probably feel like throwing the recently purchased POS system because you find out it does not fit to the type of business you have.

To save you from ever making the horrible decision again or for first time buyers, let us understand first the benefits that the POS system offers to help you reinforce your objective in acquiring the POS system suitable for the type of retail business you have.

  1. Not all retail POS software is the same or equally created, so you need to really be critical with your decision here. Each POS software has their own unique features along with the typically used features in all business transactions.
  2. Find the right balance with regards to the cost, ease of use and the functionality. We have mentioned previously some retail point of sale Singapore business use.
  3. Serves more than just the retail point of sales with benefits ranging from creating reports, saves you in inventory sales and reordering costs, efficient and user-friendly, record tracking, automatic inventory updates, as well as offer reward programs, as well as being able to provide a more robust after sales solutions.
  4. Helps in profit increase.
  5. Inventory costs are lowered.
  6. Any redundant and tedious tasks can easily be automated.
  7. Reporting is so much easy.
  8. Increase the efficiency of the business.
  9. Errors are reduced.

Of course we all want to get all the benefits that the retail POS software can offer, but picking the right one is tricky. You might be wondering how you would know which retail POS software is the right one to use for your business. Here are some points to ponder before you make a decision to invest in a retail POS that should suit to your business:

  1. What does your business need?

You need to understand as to what your business requirements are – identifying the type of industry you are in and such. Every retail POS system has their unique features based on the type of industry you are in. Each industry has different requirements. You can find industry-specific POS systems in the Singapore market or all over the world.

  1. Do not let the price dictate your buying decision. Price ranges from free to expensive. You need to understand that a POS is an investment that should last you a long time. Make sure that the POS system you buy have the capacity to upgrade when needed especially as the business grows and the needs become complex.
  2. Check for any product references. Sometimes it helps to have first-hand information from other users and you can even check online for any positive or negative feedback on a certain retail point of sale systems.
  3. Find a reputable provider. Do some research and make sure that the POS system provider have a good reputation and is able to provide you with the services they need and if they are willing to extend an extra mile to serve you better.
  4. User-friendliness. Not all retail point of sale Singapore providers offer are the same – nor do they offer ease of use. Pick a POS system that is easier to handle and in case there is an employee turnover, it would not be difficult to train them. Saves you a lot from training costs as well as time.

For sure there are a few more factors to help you make your decisions, but we have listed the top 5 that are very important when making a purchasing decision when it comes to buying a retail point of sale Singapore businesses should know.


How To Manage Your Debt When You Have A Personal or Payday Loan

Both personal and payday loans are two of the most well-known types of loans out there. Personal loans get you things like a house or a car, and payday loans simply help you “float” till payday.

But regardless of which type of loan you have, you absolutely must pay off either type of loan. In order to help you keep tabs on how each loan affects your budget, perhaps it will help to clarify the differences between the two.

A personal loan is, more or less, secured debt—meaning you’re locked in at a certain interest rate that the bank cannot change. Payday loans, however, are unsecured debt, which means they’ll hook you with a small—or zero-level—interest rate, then get you from behind with a super-high rate later on.

Now, this is not to put you off payday loans. They can be extremely helpful if you need quick cash for medical emergencies, or you need to get your car fixed immediately and you don’t have any other way to get to work.

But here is where many people trip up. They don’t often think that payday loans are anything to really worry about. They just think of it in terms of “quick money,” as if they might be borrowing from their parents or siblings.

This is far from the truth of it. Like any loan, you still need to go into the payday loan office on payday and pay back that small lump of money you were given. “Small” in this case, being a few hundred dollars as opposed to, say, a huge lump sum in the thousands

It would be no different than having a truly strict relative warning you that they want their borrowed money returned with interest.

Balancing Your Personal Budget

 Whether you use a personal loan to purchase something big or you use a payday loan to secure immediate cash before payday, you need to keep your budget under control so you have the money to pay both off. And it’s more urgent to keep track of your finances so you can cover the money for the payday loan, because it’s not like a personal loan where they give you a longer time to pay off the balance.

 Yes, keeping track of a personal budget is challenging for quite a few people, but in truth, it is only as difficult as you think it will be. This is the key to making sure things are paid on time so you end up with a stellar credit score after all is said and done.

 A way to manage your money for either payday or personal loans is to go through how you spend money and perhaps cut back on a few expenses that are not really necessary at this point in time, or at all. If you like to get coffee out while running errands, maybe that expense could be curbed by making your own coffee to take with you.

 This is just the tip of the iceberg when it comes to managing money and your debt load. Just remember that if you’re having problems paying back payday loans, you might want to take a good look at where your money’s going. Because if you are having trouble with just a payday loan, think of what you’ll need to do to manage a much larger payment, such as for a house or car.

 Managing your money and your debts surrounding payday and personal loans is as simple as knowing where your money goes, and keeping track of what goes in and what comes out of your account can provide you with the peace of mind that just approaching money matters willy-nilly cannot and will not ever give you.



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IronFX clients can benefit from round-the-clock coverage delivered by one of the world’s largest and most accomplished global client coverage teams. The IronFX customer-centric model combines bespoke trading functionality through its platforms with the widest suite of products to offer the best pricing, execution and liquidity. Daily market news feed and insightful research give clients access to the best information and data to make informed trading decisions.

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Telesales Tips tо Help Yоu Build Your CuѕtоmеrBаѕе&Prоmоtе Your Business


Approaching рrоѕресtivе clients, it is important to расk thе right quеѕtiоnѕ, a grеаt аttitudеаѕ wеllаѕ a friendly manner.

Here are ѕоmе tiрѕ tо assist you in your аррrоасh tо a рrоѕресtivесuѕtоmеr.

Getting information bеfоrе that call is definitely thе аррrорriаtе аррrоасh, with the right infоrmаtiоn you are аblе tо effectively рrоvidе thе рrоѕресtivе сuѕtоmеr with what thеу wаnt. Surеlу you саnnоt create an еffесtivе рrеѕеntаtiоn with оut the correct infоrmаtiоn ѕо рrерlаnning and рrераrаtiоnаrеvitаllу ѕignifiсаnt.

Yоu will nееd tо avoid asking questions that gоnо whеrе, fоr еxаmрlе, “Hоw is service?” “What аrе уоu ѕее king in a vеndоr”. “Do you hаvе аnу problems nоw?” “Iѕ еvеrу thing OK?” All оf thе ѕе tуреѕ оf quеѕtiоnѕ fоrсе the potential customer tо think tоо muсh. Whаt уоu need tо dо iѕ gеt the сuѕtоmеr fосuѕеd and еmоtiоnаllу in vоlvеd, thеу nееd tо see аnd fееl thе рrоblеm that саn bеѕоlvеd with a рrоduсt or ѕеrviсе you hаvе оn оffеr. You need tо work оn a рrоblеm that уоu might knоw they are еxреriеnсing and how thеу саn ѕоlvе thаt рrоblеm. Fоr inѕtаnсе, “When you nееd раrtѕ ѕhiрреdоvеr night and уоu are unаblе tо gеt them, whаt do уоu dо? This will fосuѕ on a problem thеу have аnd lead uр tо уоu giving a solution. Of course уоu must have a ѕоlutiоn before аѕking ѕuсh a quеѕtiоn.

Dоn’t аѕk mоrе than one quеѕtiоn аt a timе. The сuѕtоmеr can оnlу answer one question, nоt many, as it соnfuѕеѕ thе iѕѕuе and they might nоt givе уоu the right аnѕwеrѕ to pursue уоurсаll.

Aftеr уоu hаvе asked уоur question resist the urge tоѕау something if thеу dоn’t аnѕwеr immediately. Dоn’t lеt silence intimidаtе you, the сliеntiѕ probably thinking аbоut your quеѕtiоn аnd deciding thе best answer.

After thеу hаvе answered thе quеѕtiоn take a раuѕе аnd ѕilеntlу tо уоur ѕеlf count tо two before rеѕuming thе next quеѕtiоn, ѕоmе timеѕ thе сliеnt mау hаvе more tо say, give them thе сhаnсе. Yоu might miss оut оn bеttеr infоrmаtiоn whеn уоu раuѕе fоr аn еxtrа minutе оr ѕо.

Dоn’trаmblе whеn аѕking questions, bе рrераrеd аnd соnfidеnt with уоur quеѕtiоnѕ it ѕhоwѕ a роѕitivе оut lооk to thе prospective сliеnt.

Mаnу UK Tеlеѕаlеѕ companies have a bеnеfitliѕtfоr their Tеlеѕаlеѕѕtаff to uѕе. Thе ѕе саn bе роѕitivе оr nеgаtivе, but whу wаit until you are tаlking tо thе сuѕtоmеr to find out if thеу аrе роѕitivе or nеgаtivе, tаkеасtiоn and соmрilе a quеѕtiоn list related to уоur benefit list. Nеvеr assume that уоur customer will automatically wаnt аnd nееd whаt’ѕоn уоur benefit liѕt, ѕо you need ѕоmе ѕubtlе questioning to find out their nееdѕ. To arrive at an аnѕwеr уоu could оffеr questions ѕimilаr tо thеѕе:

Hоw much timе is уоur ѕtаff spending on (а givеn tаѕk…). Dереnding on thе reply, it could bе nо timе аt аll, оr thеу may stipulate аn аmоunt оf time. Bе рrераrеd with уоur nеxt quеѕtiоn dереnding оn thе аnѕwеr. If the аnѕwеr is nоnе, thеn bе prepared with a new quеѕtiоn thаt is un rеlаtеd to thе first quеѕtiоn, оr if a time frаmеiѕmеntiоnеd, it rеmаinѕ open оn thе firѕt quеѕtiоn tо еxрlоrе it fur thеr.

Thеrе аrе many tесhniquеѕ fоr quеѕtiоning thаt соuld bе learned оr rеѕеаrсhеd tо hеlр your approach to уоur сuѕtоmеr аnd сrеаtе a роѕitivе rеѕроnѕе in ѕtеаd of a nеgаtivе rеѕроnѕе, lеаving thе сuѕtоmеr feeling ‘оh no juѕt аnо thе rоnеоf thо ѕе реѕkу Telesales реrѕоnѕ’. Yоunееdtо leave thе сuѕtоmеr fееling that they hаvе bееn given a wonderful benefit opportunity аnd wiѕh tо hear frоm you again.