Category: Strategies

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8 Reasons Why You Need A Business Strategy In Malaysia

Today, businesses need corporate strategy especially when you are aiming to score big in the business world.

Regardless the size of your business in Malaysia, you need a business strategy not only to stay afloat, but as well as to generate more sales for your business.

If you are still thinking if you need a business strategy for 2019, carry on reading below to discover the top 8 reasons why it is paramount to have a business strategy in Malaysia.

How To Create A Business Strategy That Rocks

1

Specific goal setting for your team

Great business owners will create actionable goals for their employees—specific key performance index (KPI) will drive your team to work harder which will lead to higher productivity.

2

Remove unwanted barriers in communication

I understand that there are different goals for different employee’s level. However, establish a common goal (or goals) and remove all unwanted barriers to ensure that everyone is on the same page.

3

Deal with displacement

Displacement is probably by far the most important business strategy concept you’ve never heard of. It goes like this: “Whatever you do is something else you don’t do.” Displacement lives at the heart of all small-business strategy. At least most people have never heard of it.

4

Avoid fancy ‘silver’ objects

If you manage to catch your first big catch in business, don’t get tangled in the shinny object syndrome. A proper business strategy (for the access funds) is needed and one of the best ways that won’t go wrong is to invest back into your business. Getting new company car or renting a space will just increase the commitment.

5

Hire more of the ‘right’ people

There’s a huge different between hiring good and great employees. Good employees will follow your orders but great employees will take your business to new heights. Focus in hiring the right person for the right job is a critical business strategy for businesses in Malaysia.

6

Build strong business alliance

In today’s world, you cannot just be successful by yourself. You need a strong network and it starts by building business alliances. Consider collaborations and partnership to grow your start up business especially during the early stages of your business.

7

Grow your existing business

Getting comfortable is one of the biggest mistakes done by many business owners. Focus in expanding and growing your existing business through better goal settings and having the right business mindset. Even if you are the market leader in your field, there is no guarantee that you will continue the dominate in the next 12 months—especially in the fluid business environment in Malaysia.

8

Get professional help

Smart business owners know how to seek help without second thought. Partnering with professional business consultants will help remove a large weight on your shoulders. Typically, business consultants will work with you and your team, especially when it comes to building strong unique selling points, brand positioning and sales frameworks.

September 1, 2024
Why You Should Consider Creating a Website for Your Business

Somewhere between the brilliancy of the internet invention and the creation of social media, there was a time when having a website was mandatory for business. But with lots of social media platforms, offering different features and user friendly navigations, it became much easier for business owners to substitute their ‘online presence’ with ‘social media presence’.

If you are a business owner, regardless of its capacity, who do believe that having a Facebook page, Pinterest account, or a Youtube channel alone would help sustain and grow your business, then the coming lines are meant to be read by you!

But firstly, we need to move one false conception out of the way, which we believe is the number one reason why most business owners dread creating a website.

The problem of building a website from scratch!

The truth is that you don’t have to create one yourself! You don’t have to be a tech wizard to operate your website, and you definitely don’t need to resolve any issues preventing the smooth operation of your site. There are many easier ways to create a website. For example, a lot of webmasters use website builders. By following in-depth articles on guides like this it’s really easy to build a site!

On the other hand, there are many companies established just to do that for you. It all starts with your vision, of course, what do you want your potential clients to know and do on your website, and website creators will do the rest for you! You will also need a web hosting service provider to host your site and ensure that it is accessible to people online post uploading.

All you have to do here is to choose the most suitable hosting plan, and this comparison on the best web hosting services for Canada will save you hours of researching which web host is the best way to go. This is why it’s absolutely crucial to analyze the market and have a lot of research done so that you are better informed on which hosting service would be best for you in order to get your website off the ground.

Now that creating and hosting a website is made easy, now is the time to talk business; the real means you would benefit from creating that website.

Your business will be more trusted

This is of great importance, especially if you are a small business. Your website will serve as a portfolio of what you have achieved through having, for example, ‘previous projects’ link or previous clients’ testimonies and will give customers the chance to know what you have to offer.

In an indirect way, you are reassuring your customers that you can and should be trusted with their time and money. Having a professional website, that is easy to use, and packed with previous clients’ testimonials will cash in faster than most traditional means.

Cutting costs

After paying for your website creation, hosting, and balancing out the monthly costs, you will be surprised how a website has actually trimmed all the unnecessary costs you would have spent on communication and marketing.

Think about it this way, every time you need to market a new product or service, you need to pay content writers, designers, and printing costs. But, with a proper website you will swiftly skip any printing costs that come into large sums to cover different client segments and areas.

In addition, if you wish to update an offer, add an item, or promote further reductions; you would have to reprint the entire marketing material. But with a website, you can update whenever and however you please, with very minimal cost as you would pay for content and design only.

Moreover, having a FAQ (Frequently Asked Questions) page on your website would help reduce the time spent by your employees answering repeated questions by clients or suppliers and would spare the time needed to better your customer related services.

Visibly online!

Don’t skip the fact that most growing businesses today have websites, so if you decide to vote against creating one, you will lose online customers. They won’t see your brand/business as they do their online research for businesses offering similar services or products just like yours, simply because you are not there!

It is not enough to have a Facebook or Instagram page as long as your business won’t appear on your customers search results. Having a website increases people’s awareness about your brand and what exactly that you do through providing you with proper online presence that you can easily enhance using search engine optimization methods.

Accessibility to place orders

It’s like having a sales team working around the clock, but without the extra hours you would have to pay for. Your website will be there, ready and inviting to any potential client roaming the internet after business hours. That is, in addition, if you put your products for sale on your website, you will be making money even while fast asleep.

That is because the more you simplify the navigation on your website, the more convenient it will be for clients to buy your product or book your services. You can always automate your website in a simple way where you would receive an automatic email with every purchase a customer closes.

And it can go more complicated than this where your website would ‘automatically’ lead your customers from the first browsing click to final sale closure.

Beat your competitors

You can always increase turning leads to customers by upgrading your search engine optimization game. While you can also hire a digital marketing/SEO specialist to do that for you, you can also outsource this task to a digital marketing company to handle the entire process on your behalf.

One question though, how would you find a trusted digital marketing company or a reputable SEO specialist? Our guess would be that you would go online and do some research. And that is exactly what your customers do, in fact, recent studies have shown that 81% of customers revert to online researching before making a final purchase as opposed to 19% who rely on previous experience and word of mouth.

What an SEO specialist or a digital marketing company would do for you is identifying the keywords your potential clients use when looking for the products or services you are providing. Then they would create content that employs such keywords in taglines, meta descriptions, and post titles.

Afterwards, such content would be uploaded on your website over certain durations, so that when your customers research this keyword they would see you on their search page, organically, without having to pay for ads.

There are many ways your business would benefit from creating a website, starting with building credibility, to being present online, to save time, cutting costs, and increasing sales. All this can be attained if your website is efficiently hosted and professionally designed to have attractive design and simple navigation techniques to guide your customers easily.

September 1, 2024
Four Ways To Streamline Your Manufacturing Business

There are a lot of steps involved with manufacturing, and if you are in the industry, you will be well aware of the importance of productivity. Managers who are dealing with a manufacturing business will always be juggling supply, workflows, inventory, safety, and distribution alongside a whole host of other issues.

Given how busy this industry is, it’s absolutely vital that you should work to cut down on any of the inefficiencies that you may come across. This will then enable you to save time and money in your business while encouraging staff to keep up with policies that you have laid out.

With that in mind, we’ve put together four ways that you could streamline your manufacturing operations.

Image source

Quality Control

There are a great deal of manufacturers out there that are dealing with feedback telling them that they are delivering products of a low quality. Trust us when we say that you do not want to be that manufacturer.

Cutting corners on costs where you can maybe smart, but you must do it without cutting down on the quality of experience that you can offer your customers with your products.

Use Data

In the digital world that we live in today, there’s no excuse for poor management when it comes to the level of data available to us. For example, you can enjoy better inventory management with MDM because you’re using data to track your devices.

With the use of data, you can track performance on the devices that you have connected to your network. This can help you to see how your staff are doing and give the right advice for productivity.

Embrace Automation

Automating processes has changed the way business has been done for some time now, but it’s also a fantastic way to streamline a manufacturing business. If your manufacturing processes can be improved, wouldn’t you want to do that?

You may not have the resources to employ a line of robots, but you can definitely make your processes run smoothly with the right tools for automation.

Waste Reduction

It’s so important that as a business, you are cutting out all of the time and money-wasting tasks that are taking your time from your day. Go through each and every process that is in place in your business, and smooth them out. There are plenty of ways that you can make your business a more efficient place to be.

If your company is struggling to be more efficient, then you need to start taking some actionable steps toward this as your goal. This could be anything from making your businesses a tidier place to be, to onboarding new software to help you to maintain efficiency in the long run.

Streamlining your business is going to help you to move toward success in the future, and you can ensure that you achieve something that your customers will be proud of using again and again.

September 1, 2024
Beating The Competition In Business With These 5 Steps

September 1, 2024
17 Tips To Help You Rapidly Grow Your New Start-Up

September 1, 2024
4 Powerful Ways To Keep Your Business Safe Online

The Internet has so many upsides to it, but when you hit one of the downsides, it can be devastating. The last thing that you want is to have your business get hacked online or be hit with a virus that could destroy everything.

But, there are some things that you can do to try to fight off any possible threats that could be coming your way.

Step 1: Avoid Malware

Why do you lock your cars and house at night? You don’t want anyone to break into them, right? The same can be said for your computers. In particular, you need to avoid malware and ransomware. These software thieves want to get into your computer and take all your precious data away.

Your first line of defense should be to apply a firewall. This will allow you to block many of the troublemakers that are lurking around your computer, but not all of them. Malware is becoming more and more complex each day that they are finding ways around the firewall. You should also read up on how to prevent a ransomware infection from crippling your business. These six additional tips can be just another step of security that you can take.

Step 2: Spend the Money on Protection

There are many programs out there that offer “free” protection. Avoid those. Purchase the best security software that your company can afford. This protection should be used to stop identity thief, attacks from hackers, and any websites that could cause damage. Check out best computer protection software of 2019 as a starting point for programs you could look into.

Step 3: Educate Your Employees on Security Measures

Be sure, no matter the size of your company, that you educate all your employees on your security expectations regarding data. They should be aware of what programs can and cannot be loaded onto the system, discuss the types of emails that should be sent, the importance of strong passwords (set passwords to change frequently), and be stern with your consequences for breaking any security measures. They should be turning off the computer every night before leaving work.

Explain your social media expectations regarding the company. Assign only certain people to be in charge of your social media accounts like Facebook, Instagram or Twitter accounts. Discuss the consequences for discussing anything about the company on social media to make sure that no information is disseminated that shouldn’t be.

Finally, make sure that employees are only using productive websites during work hours. Be up front and transparent with your employees about your security expectations and what websites should be frequented at work. Create and stick to an acceptable use policy (check out 7 things to consider when creating an acceptable use policy) that all of the employees can understand.

Step 4: Stay Up to Date

Lastly, keep up to date with the latest trends on intelligence threats. Continue to allow your computers to update themselves and make sure that the antivirus program is up to date. This is a good chance to find a security vendor to keep an eye on your company. They would be able to work with you and keep you current on what is happening with software.

You don’t want one little slip up to cost your company everything you have worked so hard to achieve. Be willing to try new things, be transparent with your staff, and enforce the rules that you set forth to protect your company forever.

August 17, 2024