Any business, young or old, should be utilizing market research if they are looking to launch a new product or service, if they are seeking to expand globally, or if they are planning on opening a new premises. Market research allows you the power of analysis rather than relying on guesswork. Astute market research will enable you to focus on your target niche, fulfilling their needs and honing your item or service so that it surpasses your rivals. Take a look at these steps you need to take to ensure that your market research is effective.
If you keep a close eye on your rivals within your industry, you’ll be able to spot trends easily. Are your customers looking for a certain item or is one of your services becoming more popular? If so, work towards tapping into this trend and honing a new and improved service or item. Ask specific questions in your market research and ask the right people. Choose your demographic carefully and don’t deviate. The more specific your sample, the more useful the trends and research that you can analyze. You can use market research that is already in the public domain, but you need to be careful that you can attribute it to your niche. And, be aware that this data could also be out of date.
Get Out There
Conduct research in numerous ways. Consider utilizing survey software to send out online questionnaires to potential demographic hits. These surveys are presented in a non-threatening way and are effective to get the millennial generation involved. Alternatively, you could also employ third party market researchers who get out there and have a physical presence either on the street or sat down with a focus group. Surveys, discussions and interviews can all be useful when trying to analyze qualitative data. Software can also help you to input the answers and create databases that are searchable and that will automatically pull out key data for your consideration.
We all know the big guns when it comes to market research. Global agencies like Kantar and Ipsos MORI cost a lot of money to outsource to, but they also have the finest analytical minds in the business to analyze your raw data. By focusing on these data sets, they can pick out information that you may not have even considered. They will work with you to construct questions and focus groups. If you don’t have the cash to go for a large market research agency, stick to a more local agency. These can be more effective especially if your business is more regional and it needs a geographical sensitivity.
Market research is fundamental if you are a new business looking to get ahead of your competitors. However, it is also beneficial to those ventures who have been around a while and need to relocate their mojo. Think about using market research whenever you are launching something new, expanding your business or looking to attract a new demographic to your market.
So, you want to sell your home and want to maximize your profit. Or, you’ve had some unexpected news and need to revamp the home and make it larger, or you simply want to make the space you have work better for you and your needs. Whatever your purpose, there are many tried and tested ways that you can add value to your home and make the best use of all the space you have on offer.
Take a look at your house and be honest, are there any real problems that need to be fixed before you should think of doing else. It may be worth having a professional come around because if there is an issue with rising damp for example, you are going to have issues selling for the price you want, even if you have added a beautiful outdoor space. So, gey any fundamental, and structural problems resolved first.
Cellar conversion
If you are lucky enough to have a cellar, then you should be making use of it. Get down there and clear out the rubbish to have a real good look at what you could do. Even if you don’t have a cellar at the moment, why not think about digging down into the ground and creating one. You will need to get this done professionally, obviously due to the foundations of the house, but adding a cellar, or converting one can add massive value to your home.
Give the front a facelift
Upgrading the facades, for example, will give the home a brand new feel. When people arrive to view their eyes will be drawn to the attractive look. There are promotions available at Bellriver Homes for you, if this interests you. You may also want to think about updating the kitchen and bathroom too.
Convert the garage
A lot of people tend to use the garage as a storage area. Well, if you want the home to increase in value, think about getting rid of the junk and converting this into another room. If you can extend one of the rooms all the better. Equip it with some big windows and allow in some more needed natural light, this will pay dividends. Even if you intend to stay in the house, surely having a beautiful big kitchen dinner is better than having a pound shop.
The garden
Whatever the size of your garden, think about having it cleaned up and made attractive if it isn’t already. A garden is a huge pull when it comes to buying a property. If someone can see a space that they can sit outside with, a glass of wine in hand in summer, they will be drawn to it. Think about adding some turf and some pretty flowers. Perhaps, upgrade the fencing. Moldy old wood is not going to sell the home. Maybe add a little patio and a seating area, give the viewer ideas, or yourself. Even if the garden is small, add some wall plants.
When you buy a home, there are always a lot of different factors that you need to take into account. The location of the house is going to be a big concern, as you will no doubt want to be close to your place of work, your child’s school, or your friends and family. The area needs to offer a lot in terms of social and practical amenities, and you may also be swayed by how beautiful the scenery is.
Of course, one of the most practical concerns that you will have to take into account is the price. We all have to think about how much we can spend on a property, and getting the best value for money is essential for anyone.
So, how do you get everything that you want from a property in terms of size, facilities, and location, without spending out too much? Here are a few ways that you can save money when it comes to investing in property.
Start From Scratch
Building your own home can be very rewarding, and it can save you some money. You could buy a great plot of land somewhere like Wyndham Ridge and then hire an architect and a builder to help you turn your dream into real-life bricks and mortar.
You’ll be able to create a better living space for yourself by starting the process from scratch, as in theory, you are removing the profits that any middlemen such as estate agents or development companies would be looking to make from your home.
Restore A Property
Buying a property that needs quite a bit of work doing to it may seem to be a bit counter productive, however, if you’re willing to put in the time and effort, you can buy your new home for considerably less than the market value in the area.
If you are able to buy the property with cash rather than using lending in the form of a mortgage, you will be able to get an even cheaper property.
Often, when homes are likely to fail their surveys and mortgage companies will not provide lending, estate agents will put a home up for auction rather than trying to sell it via the conventional sales route. This leads to a much lower-priced property.
If you are able to carry out the restoration work on your own without the need for a professional tradesperson, then you’ll save yourself even more money, as you’ll just need to worry about paying for materials.
Buy A Home That Is Yet To Be Built
Building companies who are building numerous homes like to sell them as quickly as possible. They don’t want lots of empty houses. For that reason, they will put the houses up for sale at a discount price before they are built.
You’ll be able to see a show home, as well as drawings and plans so that you can decide if it is the home for you.
Being a boss is challenging, and the toughest part of the job is to look them in the eye and tell them they no longer have a future at the company. It might be personal, it might be business, but it needs doing for the sake of the business. Building a successful organization means you must be ruthless and make informed decisions as quickly and efficiently as possible.e
Of course, letting an employee go isn’t something you can theorize. To understand the real impact, you have to do it and ensure you do it correctly. Firing someone the wrong way is going to impact you and the company, personally and professionally. As a new leader, it’s hard to tell what you should do and when you should do it to protect your startup, and firing a worker is a harsh learning curve.
So, if you think you might need to have an awkward conversation, or you want to prepare for the worst, you should check out the advice underneath. Firing an employee the right way isn’t a science, but some features make it easier for all parties involved.
Analyze Your Interactions
Whether positive or negative, they will come into play when you call a person into the office and break the news. If you and the worker haven’t got along and have clashed, there’s a good chance that they know the decision is coming when they attend the meeting. In this scenario, it’s best to be magnanimous so that there is no extra tension in the room. Making it seem as if you delight in the process, considering you’ve never been chummy, will result in the person lashing out.
People with whom you have a positive relationship are harder to fire. Why? It’s because they have no idea that they are in the firing line. The fact that you laugh and joke make them think everything is rosy and there are no problems. So, when the time comes, it will be a shock, and people don’t react constructively in these circumstances. Although it sounds harsh, especially if you like the person, you might want to be more distant.
Once they begin to see the warning signs, they will understand there is an issue and (hopefully) try and change their behavior. With that in mind, don’t fire them straight away – give them time to pick up on your signals.
Tell Them About Your Feelings
Sometimes, it’s easy to build up the feelings of resentment in your head to the point where you think firing an employee is the only option. And, that might be the case, in which case they need to go right now. However, terminating a worker’s contract is only a smart move when you know that they can’t or won’t change for the sake of the business. On the flip side, people who understand their weaknesses and try and turn them into strengths might become valuable team members.
Therefore, you must tell them about your feelings, focusing on specifics that are non-negotiable. Whether it’s their punctuality or productivity, they need to hear it from your lips without trying to read between the lines. Then, you can see whether the employee has the strength of character to stay in the job. Regarding the conversation, it’s essential to keep it on track so that the waters don’t get muddied. The Harvard Business Review recommends identifying your part in the process.
That way, you can verbalize your intention without seeming as if you oppose their point of view. Instead, you’ll be a partner who can educate them rather than preach.
Give Them A Warning
A warning, whether verbal or written, negates the shock elements and tells them in no uncertain terms that they need to improve or else face the consequences. Often, businesses add a deadline to a warning, such as one month, so that employees understand the severity of the situation. Also, you can’t wait around forever for them to modify their behavior.
However, more important is that a warning is evidence of your intentions. Employers can’t fire anyone they like without a solid excuse. Otherwise, a stack of lawsuits will land on your desk and put the company’s finances in jeopardy. By filing the meeting and a copy of the warning with HR, you’ll have evidence to back up your statement and save the business a lot of resources. This Inc post points out that specific acts are too blatant to warn an employee, and they need sacking on the spot. However, for the most part, it’s the kind thing to do that negates the drama.
Don’t forget about the message you want to send to the rest of your staff. Showing them that everyone gets a second chance shouldn’t overly harm morale.
‘The Apprentice’ might have made the term ‘you’re fired’ famous, but the majority of bosses avoid the phrase. It’s because you need the person on the receiving end to understand your decision in no uncertain terms. Firstly, employees must see that your mind’s made up and no amount of pleading will save their skin. Secondly, it’s vital to produce indisputable evidence.
How can you do that? It’s not straightforward; however, you should never fire anyone unless you’re sure the decision is inarguable. The last thing the company needs is a drawn-out court case. With that in mind, you can consider using CCTV to prove theft or track their internet and email usage. The latter are legal as long as you do it on business devices and not their personal ones. Another option that Jobfit Health Group offers business is drug and alcohol screening. For safety purposes, you can ask employees to provide samples to ensure they aren’t intoxicated on the job.
For specific roles, such as drivers and machinery operators, substance screening is critical as one slip can result in serious injuries.
Go Through What’s Next
You’ve done it, and while it was tough, it was the best thing. But, instead of enjoying the sense of relief, you’ve got to continue to work because the process isn’t over. During the meeting, which you should keep short and sweet, it’s essential to make them aware of the next steps. Never leave any room for uncertainty – show them where they stand and what their options are in the short-term.
To do this, you want to inform them when they’ll be expected to leave the office so they can collect their things. Also, speak to them about severance pay and references if they require one in the future. Try not to go into specifics about the reasons to swerve an argument. A fantastic piece of advice from The Balance Careers is to do it early in the week. Firing someone on a Friday gives them all weekend to gauge how they feel and come in on Monday to vent their emotions while clearing their desk. Doing it midweek ensures the entire process is over within a day and a half, no longer.
During all this, you should have a witness present in case there are strong words and counterclaims further down the line.
As you can tell, the process isn’t clean cut or smooth. If anything, it’s political and difficult to navigate as a result. And, because there are potentially fatal consequences in the making, one false move could leave you open to a lawsuit. Navigating the process correctly is essential, and that’s why you must consult with an attorney. With their experience and skill, the company (and yourself) won’t be vulnerable to attack.
A non-disclosure agreement is a fantastic example. Investopedia points out the types of NDAs and how businesses use them to their advantage, but employees aren’t stupid. They know their options are limited once they put pen to paper, which is why you could add an incentive, such as extra severance pay. Of course, using money as a way to get what you want won’t look good in front of a judge unless the wording is on point.
So, if you don’t have a lawyer on retainer, which you should, then it’s time to find one you can trust. A tip: avoid jack-of-all-trade attorneys. Employment specialists understand the fine art of protecting a company from a disgruntled worker.
Tell The Office
There’s nothing worse than firing an employee and acting as if it didn’t happen. When you do this, you let the office gossip and fuel the rumor mill with stories that aren’t true. Even if they are, the last thing you need is for the staff to focus on the past and side with the person you’ve terminated.
Instead, call a meeting and address it head-on without going into detail. You can use it to your advantage in some situations. For example, redistribute their work to others and give them more responsibility. Usually, a pay rise and more power helps them to forget.
Firing an employer is never going to be fun. It’s challenging and filled with emotion, but you’ve got to get the job done and do it properly. Can you step up to the plate?
For those of you thinking about moving house soon, you will probably be viewing properties to find that ‘perfect’ home for you. It can be a stressful process, especially when you factor in the possibility of an expensive mistake if you choose the wrong property.
So, don’t just spend twenty minutes exploring a house before making up your mind. Don’t decide to buy a house sight unseen. Take your time when visiting the properties that take your fancy, as you will get a better understanding of the house in question. And, for the context of this article, take special care when viewing a house that comes at a bargain price. There could be a reason why the house is selling so cheaply, so ask yourself the following questions when viewing.
#1: How safe is the property?
You don’t want to move into a potential money pit, where you will be spending a fortune on repairs for many years to come, so be sure to check for any maintenance problems. Does the roof look stable? Is there damp on the walls? Are there any weird smells or sounds emanating from the property? If you spot signs of trouble, you might want to think again, unless you have the assurance that the issues will be dealt with. It’s in your best interest to pay for a home inspection too, and even drug testing, as the home could be chemically unsafe if previous residents had an addiction problem.
#2: What is the owner hiding?
If the owner plays loud music while you’re walking around the property, you have to wonder why. Are they hiding any suspicious sounds that could point to a maintenance issue? If the owner refuses to show you a specific room of the house, you need to have your guard up. What is wrong with the room in question? What secrets lie beyond the walls? And if the owner fails to answer any of your questions about the property, you need to be suspicious. It might simply be that they don’t know, but then again, they might be trying to keep any potential issues hidden from you. If your suspicions are raised, then do the sensible thing and leave.
#3: What are the neighbors like?
The house could be the ‘home of your dreams,’ but if the neighbors are a problem, you aren’t going to enjoy your time in the house. So, when viewing the property, listen out for any voices or sounds from next door. If you can clearly hear the neighbors, there is obviously an issue with soundproofing, and while you can fix this issue yourself, you might still think twice if the neighbors sound particularly disruptive. You should also spend time outside of the property, as you may be able to get a better look at the neighbors. Do they appear friendly? Look for warning signs too – if the neighbor’s property looks uncared for, they could single-handedly be negatively impacting the house prices in the area. This is great news if the property you are buying is cheap, but when you later intend to sell, you might regret your initial decision to buy.
Finding the right is never easy, especially when you later realize you have made a mistake with your purchase. So, be it a bargain property or otherwise, take your time in your search, and ask yourself the questions we have raised before signing on any dotted line.
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