Even if prices are raised and there are more affordable alternatives on the market, we will often continue to buy products from the same brand. The reason for this is the same as explaining why we always choose to fly with the same airline or get our coffee from the same place:...
According to the Her Majesty’s Revenue & Customs (HMRC), a small business is a privately-owned and operated business with a small scale of trade and a small number of employees, depending on the industry. Small businesses are commonly referred to by the European term “SME” which...
A work-life balance involves a lot more than simply dividing working time and personal time equally. The concept is often viewed as a philosophy that determines many aspects of a person’s life. In order for it to succeed, both employers and employees must make an effort to create...
You’ve made it past the application process and the initial screening and you’ve been invited to an interview. It’s normal to be nervous, especially if you have limited experience in selling yourself. There are a few unwritten rules that apply for all interviews. As soon as you...
Keeping track of taxes in the UK isn’t exactly a piece of cake. There are so many types of taxes that it’s difficult to know which ones apply to you and/or your business. If you don’t file your taxes correctly with the HMRC, it could result in penalties, which could cost you...
Customer care is one of the corner stones of a successful company – whether you are running an online shop or offering bank accounts. Even smaller companies can benefit from the use of CRM tools, which help to organise customer- or buyer data. These software systems automate and...
If you want to create your startup independently, the question will come up sooner or later of how the company will be financed. Nowadays, there are so many options for startup funding: regional and nation-wide funding programs can help, as well as angel investors, startup centers, and other investors. Long-term subsidies that last two or more years are not a rarity in the startup industry. Learn...
A business plan is an essential tool for every entrepreneur seeking to kick off a budding project. This not only applies to brick-and-mortar companies, but also to online shops. This is where entrepreneurs can really get to the heart of their business concept, outlining all the crucial elements: from marketing strategies to the company’s staff structure. Providing a projection of the company’s...
With the help of the sandwich method, managers try to communicate criticism to their employees in the most pleasant way possible. Negative feedback is packed between two “sandwich slices” of praise. The sandwich method is also popular in sales methods, and increasingly also in everyday communication. However, there are not only positive aspects, and the method has been criticised by some.
Whether you’re at a board meeting or a project meeting, the question always comes up: “Do we really have to take minutes?“ In large companies, it is often policy that you need to record the minutes, but in small and medium sized companies, this isn’t always the case. Then comes the question: “What is the right way to take minutes?” Writing them can be done quickly and easily with a template. We...
“How likely is it that you would recommend our company to a friend or colleague?” The NPS, short for Net Promoter Score, is limited to this “ultimate question” asked to gauge customer satisfaction. We explain the concept behind the management tool, how you calculate the NPS, and why critics question how valid the NPS is.
Achieving the greatest possible success with little effort? That's what many people dream of. This wish can be fulfilled with the Pareto principle. Whether at work, at university, or in private life, those who follow the 80-20 rule ensure efficient handling of all important tasks. We explain to you what the Pareto principle is all about and its advantages and disadvantages.
Generally speaking, you are under no legal obligation to provide a job reference for an employee if they ask you for one. If you do make a reference as an employer, you must be fair and accurate. How do you write a job reference that is fair and accurate for a terrible employee? Does this put you at risk of being sued? Read on about how to write and understand fair job references, without putting...
Everyone has certainly heard the term “franchise” at some point, but what exactly does it mean? Imagine you want to start a company, but you’re lacking the necessary capital and know-how. Instead, you decide to get involved in a business model that already exists, and build a business under a successful brand. This concept is called “franchising” – and it allows you to start your own business...
How important is a company’s review in a job search? On the one hand, job review sites support potential applicants in finding a good potential employer. In addition, the assessments provide employers with feedback. On the other hand, how reliable and helpful the actual feedback is can be questioned, seeing as the feedback is anonymous. What should employers and employees look out for? And which...
Managing a company without having to take responsibility for your assets? This is possible with a limited company (Ltd) and is the reason that many business owners in the UK choose this legal structure. We explain what an Ltd is, its hierarchy, as well as naming some of the advantages and disadvantages of this kind of business structure.
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