Small Businesses

Stories, guides and how-tos for all small businesses

The Basics Of Business Insurance For Small Business Owners

Most small business owners have a good idea of what tools, equipment and materials are needed to conduct their business. However, when it comes to insurance, they don’t always know what to insure or how much coverage they require. At the very least, consider buying General Liability and Business Property insurance for your small business. Or you can get a Small Business Owner’s Policy (BOP) that contains both under a single policy. In most places, Worker’s Compensation insurance is a necessity. If you or your employees will be driving for work purposes, then you will need Commercial Auto Insurance. Once you have these basics covered, consider any risks that are unique to your business. Is your area prone to flooding? Are you handling large amounts of customer data? You will want to address...

How To Deal With Insubordinate Staff for First Time Business Owners

Business owners, when you first hire staff for your business, one of the most important steps is laying the ground rules. However, it’s only natural that certain rules or policies are stepped over by staff, and as a person in authority, it’s vital that we put our foot down when an employee is out of line. For first-time business owners like myself, I struggled with this.  Simply because I was so concerned with not wanting to come off as being unreasonable and illogical. I wanted to exercise judgment wisely. Many a time I would find myself feeling guilty when I reprimanded a staff or when I was forced to stand my ground. But there are a couple of things that as a business owner and leader that we must remind ourselves, especially being a first-timer in such a situation. Here is how I dealt ...

3 Ways Malaysian Small Business Retailers Can Maintain Consistent Customer Service

It’s easy to have control over all aspects of your business when you’re still a small operator. Things like taking inventory, stock control, manufacturing details, raw materials, hiring, customer service are some aspects of a retail business that business owners focus on daily. While your business is still small it’s easy for you to keep rapport with your customers as well, and knowing how best to service them.  But what happens when you start to expand your business? How do you assure that the same level of satisfactory customer service is provided throughout all your outlets? Why is consistency important? Regardless of service, channels and provisions, customers expect a consistent experience across all platforms. Consistency breeds trust between customer and provider. Building a solid r...

4 Simple Ways For Small Businesses To Reduce Costs

Bolstering your business’s profits is tough enough as it is nowadays. The problem is that as costs go up, so do our prices – in turn eventually affecting our profit margins. Cutting unnecessary expenses are just as important as increasing sales. It can be tough to identify what expenses need to be cut. What is deemed “unnecessary”? If you’re looking for a long-term solution to reduce costs and expenditure, then read on to see how. 1. Move your processes into Software Automation Labour is often one of the biggest expenses for a business to incur.  Processes like time sheet errors are costly to correct and will take up significant amount of time cumulatively. Automating means creating an accurate and painless process that enhances productivity and performance. Although setting up an au...

Branding Ideas for Beauty Spa Business Owners in Malaysia

For just about any business, branding strategy is a very important component. In Malaysia, the flourishing beauty spa industry is fast gaining traction among the locals. As such, competition is growing tighter, and it is all the more important for business owners to understand the desired brand image of target customers. Beauty spa business owners, you will have to place your focus on your intangibles such as reputation, client care and relationship with clients in order to build your brand. According to the Global Wellness Institute (GWI), which released the 2016 Global Wellness Economy Monitor last year, the worldwide wellness industry grew 10.6 percent to US$3.72 trillion (RM15.2 trillion) from 2013-2015, making it one of the world’s fastest-growing and most resilient markets. For the b...

5 Reasons Malaysian Beauty Businesses Need to Know Their Competitors

For your business to grow, constant learning and adjustments are necessary. What are among the most important things you should be learning for your business to remain competitive? It will be none other than your competitors. Knowing who they are will help you distinguish your business from theirs and to communicate with your target market. What should you know about your competitors and why is it important? Here are 5 reasons why you need to know about your competitors: 1. Helps You Identify the Type of Competitors You Have Your competitor will be any business that deters a potential customer from choosing you. They often take two primary forms, they could either be your direct competitor or indirect competitor. Direct competitors refer to businesses that have similar products and service...

Singapore PDPA – What Every Business Owner Should Know

For business owners, it is important to understand the boundaries, laws and regulations concerning data collection. When customers provide their personal details to your business, they are trusting that you will not abuse this privilege. To ensure a baseline standard of protection for personal data, Singapore’s Personal Data Protection Act 2012 (PDPA) was implemented. So just what are these obligations and guidelines that businesses in Singapore have to abide to when collecting customers private information? Read on to get a better understanding of Singapore’s PDPA. 1. Consent

5 Habits Pinoy Business Owner Needs to Get Rid Of

The Philippines is a country filled with opportunities for small business owners! While many people talk about the ideas of starting a business, few people take the necessary steps to ensure that their businesses continue to run smoothly after the initial phases. If you are a small business owner or hope to be one, then you may benefit from reading this list of things to avoid! 1. Borrowing Money To Make Ends Meet You should always spend within your means. If your costs are exceeding your planned budget, then there is something very wrong with the way you are running your business. Business owners fall into the trap of taking loans, but many also underestimate the responsibility of taking loans. A loan should only be applied for professionally, and when you are fully aware of your financia...

How to Start & Register an Online Business in Malaysia

Malaysian eCommerce is beginning to pick up, and many are wondering how they can start getting involved in online businesses. The process of registering your business is simple and will only cost RM30. Businesses also gain benefits such as insurance coverage and microloans. Follow these 4 simple steps to get your online business started: 1. Register with MMC if required You will only be required to register with MMC if your business is related to the telecommunications industry. If you are uncertain and want to be safe, you may want to find out more about the MMC’s guidelines. 2. Register Your Business and Company name with CCM

3 Simple Steps to Improve Your Nail Salon’s Profitability

How do you distinguish yourself from your competition? Who do you even consider your competition? More often than not unnecessary changes to pricing strategies are made by nail salons in order to get ahead of their competitors. In this article I will write about when it is necessary to pick up a fight and how to distinguish yourself in order to thrive in the nail salon industry. 1. Keep Your Costs Low As a nail salon owner myself, I recognise that most customers are unwilling to pay a hefty amount for a good manicure unless it is gel. And even with gel nails, the most they would be willing to pay is slightly above $50. How do we work around this problem without making significant losses for our business? Well, the answer is in keeping costs extremely low by keeping initial investments and ...

How To Set Up A Lucrative Spa In India 

भारत में एक आकर्षक स्पा कैसे स्थापित करें, यह जानने के लिए अपने फेसबुक या लिंक्डइन खाते से लॉगिन करें Login with your Facebook or LinkedIn account to find how to set up a lucrative spa In India!

10 Ways To Make Your Store Millennial Friendly

Millennials run the world. Thinking you can ignore this demographic is definitely a mistake. According to Huffington Post, Asian millennials are the new big spenders in the global consumer market. In Asia, they make up a sheer 410 million of the total population and they are equipped with high purchasing power. Want to find out how your store can latch onto this demographic? Below are 10 tips I have learnt over the years as a store owner myself. 1. Consider Seamless Payments