How Dubai businesses adapt to the summer

Adapting to Dubai summer

If you’ve spent even a day in Dubai during the summer, you’ll know one thing – it’s hot. Very hot.

But, while on the surface it may look like businesses simply hibernate for the summer and reappear once the worst is over, it’s very much the opposite. In fact, there are many opportunities that businesses look to take advantage of in order to take advantage of summer business opportunities in Dubai.

Here are just a handful of ways in which businesses adapt to summer in Dubai, giving you some food for thought about how to adapt your own business.

Ways to adapt to the Dubai summer

  • Adjusting your operating hours: This may sound like a slight contradiction to the above, but there is a level of sense to adjusting your operating hours. In fact, 60% of businesses in Dubai adjust their operating hours during the summer months to avoid the hottest parts of the day, according to Dubai Tourism. Statistically, it is assumed that footfall reduces during the hottest parts of the day, so shifting operating hours around to adapt to the cooler periods of the day makes total sense from a business perspective.
  • Embracing summer in your social branding: one sure way to approach the summer – embrace it! Summer is a time in which some companies add an element of (extra) sunshine to their branding, particularly on social media feeds. It’s the perfect time to give your brand a casual refresh, and embrace the sunshine without avoiding the season entirely.
  • Special promotions: If you’re worried that your footfall will decrease during the summer, give customers something to come to you for! You could offer special promotions or discounts during the summer months to encourage footfall – after all, customers love a bargain whatever the temperature. For example, hotels may offer reduced rates or complimentary amenities, while restaurants may offer special summer menus or discounts on certain dishes. Why not give it a try?
  • Utilizing technology: We do live in the world of e-commerce, after all! But, if you provide a service in store, why not think about switching to e-commerce to adapt? Deliveries don’t stop throughout the summer, and this could particularly help restaurants and cafes by offering delivery or take-out options. This can be a great way to reach customers who prefer to stay indoors during the summer months.

Summer in Dubai

Summer in Dubai

Summer in Dubai is an opportunity to adapt, rather than resist. Although the temperatures might come across as intimidating, Dubai’s residents are well adapted to it, and will take any opportunity to keep business moving.

If you’re looking for ideas about how to adapt your business to the summer temperatures, connect with our team and we can discuss ways in which you can make the seasons work for you! Call us on 800 BIZ, or email us at [email protected]

من YouTube إلى TikTok: كيف أعيد تشكيل اقتصاد المبدعين بعد الوباء

في أحدث مقالاتنا، سنناقش التالي:

  • الدور الذي تقوم به منصة تيك توك في الاقتصاد المرتبط بصناعة المحتوى.
  • أثر وباء كورونا على استهلاك محتوى منصات التواصل الاجتماعي.
  • زيادة استخدام تطبيق تيك توك في سياق الوباء.
  • الوضع الحالي في الاقتصاد المرتبط بصناعة المحتوى.

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هل تتذكر كيف كنت تملأ وقت فراغك أثناء وباء فيروس كورونا المستجد؟ أثناء تعلمك طهي أطباق جديدة، ومحاولة الحفاظ على لياقتك البدنية، كم عدد الساعات التي قضيتها – بدون أن تشعر – على مواقع التواصل الاجتماعي حتى لا يصيبك الملل؟

تخيل فقط رقم عدد مقاطع اليوتيوب التي شاهدتها!

حسنا، أنت لست وحدك. بالرغم من ذلك، ربما لم تدرك كم عدد الشركات التي قد ساهمت في بقائها وعدم انهيارها.

في عام 2020، أقل من 40 ٪ من الأشخاص الذين شملتهم إحدى الاستبيانات اعترفوا بأن عاداتهم الاستهلاكية على منصات التواصل الاجتماعي ارتفعت بشكل ملحوظ خلال الوباء. ليس ارتفاعا بسيطا، بل قويا.

أكثر من 30% من الأشخاص الذين شاركوا في نفس الاستبيان قالوا بأن عاداتهم الاستهلاكية ارتفعت (قليلا). أي أن أكثر من 70% من الذين شاركوا في الاستبيان زاد استهلاكهم لمواقع التواصل إلى حد ما بعد الوباء.

أثر وباء كورونا كان قويا للغاية على الصناعات وكيفية إدارتها، على كلٍّ، هل نستطيع القول أن ذلك الأثر كان أكبر من الأثر الحادث على الاقتصاد المرتبط بصناعة المحتوى؟

هنالك أدلة قوية جدا لتكون الإجابة: لا.

هذا بسبب تيك توك، التطبيق الذي يتم من خلاله نشر مقاطع قصيرة، والذي ازداد استخدامه للغاية أثناء الوباء. فجأة، صارت مقاطع تيك توك رائجة جدا، وقد تم جذب صناع المحتوى إلى هذا التطبيق. أثَر انتقال صناع المحتوى إلى تيك توك مستمر إلى الآن.

حتى تفهم كيفية تأثير تيك توك على الاقتصاد المرتبط بصناعة المحتوى، ينبغي أن نفهم التالي:

  • ما هو تيك توك، وما هي الوظائف الرئيسية التي يقوم بها.
  • كيف كان شكل اقتصاد صناعة المحتوى قبل الوباء، وكيف كان ذلك مهما لتيك توك.
  • ما السبب وراء؛ الزيادة الرهيبة لاستخدام تطبيق تيك توك أثناء الوباء.
  • أثر ذلك على اقتصاد صناعة المحتوى اليوم.

التغيرات الناتجة على محتوى مواقع التواصل الاجتماعي كنتيجة لوباء فيروس كورونا

 

قبل سنوات من الوباء، كانوا صناع المحتوى خصوصا على مواقع التواصل الاجتماعي يسارعون إلى منصة يوتيوب لينشروا مقاطعهم هناك.

ولكن، أثناء الوباء، ازدادت الرغبة في قِصَر المحتوى، أرادو أن يكون المحتوى ممتعا وقصيرا ورائجا، وكان هذا هو حال المقاطع على تيك توك.

ببساطة، كانوا الناس في منازلهم، وأرادوا الاستمتاع.

هذا لا يعني أنه تم إهمال يوتيوب، ولكن هذا يعني أن يوتيوب وتيك توك أصبحا يتشاركان نفس مستوى الأهمية.

تيك توك قبل 2020

تم إنشاء تيك توك في 2014، وكان يستهدف الشعب الصيني، تحت إشراف (ميوزيكال) . لمدة ست سنوات قبل الوباء،  كان لتيك توك في شكله الحالي جمهور كبير، حطي كان عدد مرات تنزيله منذ إنشائه إلى عام 2019 يساوي 693 مليون مرة.

وبمجرد هجوم الوباء، تصاعد استخدام تيك توك بشكل مجنون!

بين يناير ومارس من عام 2020، ازداد عدد الزوار المميزين لتيك توك بنسبة هائلة تساوي 30%. معظم هذه الزيادة كانت في مارس، في الوقت الذي تم فيه إغلاق كل شيء في العالم، عندئذ ازدادت المشاهدات على تيك توك بشكل مهول.

ولكن لماذا؟

ترفيه يتسم بقصر الوقت، في سوق صاخب يضم جمهورًا جديدًا تمامًا للعديد من صانعي المحتوى.

جاذبية تيك توك بالنسبة لصناع المحتوى

مقاطع تيك توك قصيرة، وتتسم بقدرتها الرهيبة على الانتشار، مع وجود معظم صناع المحتوى على المنصة. هذه النقطة تُعد هي نقطة البداية.

من 60 وصفة ثانية إلى أحدث موضات الرقص، يمكنك العثور على ذلك كله على تيك توك، وتيك توك يعتبر المنصة التي تبدأ فيها تلك الصيحات. من أجل ذلك، تُعتبر منصة تيك توك منصة جذابة لصناع المحتوى، لأنه المكان الذي يحدث فيه كل شيء جيد.

عالم تيك توك فتح الباب أمام صناع المحتوى للعثور على جمهور جديد. حيث أن 60% من مستخدمي تيك توك تتراوح أعمارهم بين 16-24 عام بينما متوسط أعمار مستخدمي اليوتيوب يتراوح في العشرينات.

فجأة، أصبح متاحا أمام صناع المحتوى مجموعة عمرية جديدة  تمامًا – كان من الصعب تحديدها – على طبق من ذهب.

تيك توك أتاح أيضا لصناع المحتوى بدائل عدة لمدة لمحتواهم. في البداية، كانت المدة القصوى للمقاطع تعادل عشرة ثواني، ثم تم تمديد هذا الوقت إلى عشرة دقائق. إن هذا يعطي فرصة لصناع المحتوى كي ينوعوا محتواهم، حيث أن شعبية تيك توك هائلة.

لماذا هذا التحول؟

الوظائف التي يقوم بها تيك توك تمثل أسبابا رئيسية لذلك. إنه تطبيق رائع لتحقيق المتعة والترفيه في حد ذاته. بالإضافة إلى سهولة النشر والاستخدام. إن التغاضي عن سهولة المشاركة وسهولة الاستخدام والتنوع الهائل للمحتوى المتاح على تيك توك في سياق الوباء من شأنه أن يقلل من نجاح تلك المنصة الاجتماعية.

تحقيقًا لهذه الغاية، هناك جمهور على تيك توك لديه إحساس بالجنون تجاهه. إذا كان يوتيوب طريقًا سريعًا منظمًا في جبال أيسلندا ، فإن تيك توك يقع في وسط مدينة دلهي – في ساعة الذروة.

لا يزال صناع المحتوى يتعلمون أكثر بخصوص جمهور تيك توك ويبحثون عن الشيء السحري بالنسبة لذلك الجمهور. يدرك صناع المحتوى جيدًا أنهم إذا فهموا الأمر بشكل صحيح مرة واحدة، فسوف يحصلون على ما يريدون.

وفي الواقع، خوارزميات تيك توك تكمل الكثير من العمل الشاق لصناع المحتوى، حيث تستخدم المنصة بشكل كامل قوة الخوارزميات لاستهداف الجمهور بشكل يشبه الإعلان.

قسم (من أجلك) على تيك توك مليء بالاقتراحات التي ستعجبك غالبا، بناء على ما تشاهده على التطبيق. من واقع تجربتنا، قسم (من أجلك) دقيق بشكل رائع.

(إن مشاهدة مقاطع مضحكة للقطط هو أكثر ما يعجبني، من كان يعلم؟)

جزء من جاذبية تيك توك أثناء الوباء هو أن الناس ببساطة لم يكونوا يعلمون ما الأمور المستوحشة التي قد تحدث في المستقبل بخصوص الوباء.  الانشغال بمحتوى قصير، ومقدار التركيز البسيط الذي تحتاجه لمشاهدة المحتوى، كل ذلك رائع من أجل التخلص من ملل الحجر الصحي

الأشخاص الذين كانوا يفعلون ذلك لم يكونوا قليلين، بل كانت أعدادهم تتجاوز الملايين.

مع إتاحة خواص مثل البث المباشر وزيادة مدة المقاطع أصبح تيك توك صورة سريعة ومصغرة من يوتيوب. حتى أن الأمر انتهى بيوتيوب إلى الاستجابة لتلك الزيادة في استخدام تيك توك، وأتاح خاصية مقاطع يوتيوب القصيرة. هل ستكون هذه الخاصية بنفس تأثير تيك توك؟ تستطيع أنت أن تحكم.

اقتصاد صناعة المحتوى اليوم

كما ذكرنا سابقا، سيكون ذلك ظلما إن قلنا أن تيك توك هو رقم واحد في الاقتصاد بين قنوات صناعة المحتوى. يوتيوب بالطبع يظل هو ملك المحتوى، ولكن الآن لم يعد منفردا بكل شيء.

الحقيقة أن يوتيوب أدرك أهمية المقاطع القصيرة، أبرز المحتوى القصير الفجوة الموجودة في سوق صناعة المحتوى التي اكتشفها تيك توك واستفاد منها.

لا يزال يوتيوب على القمة، كما كان قبل الوباء. هنالك 2.6 بليون شخص اليوم يستخدمون تيك توك شهريا، تاركا تيك توك ببليون مستخدم فقط.

بالرغم من ذلك، والنقطة الرئيسية هنا: لم يكن تيك توك قريبا من وضعه الحالي قبل الوباء، والآن، لم يسد فقط الفجوة الموجودة في يوتيوب، بل أيضا أصبح الخيار الأول لصناع المحتوى.

جيل الألفية الجديدة لا يربط الإبداع بيوتيوب، بل يربطه بتيك توك.

كيف تحافظ على الجودة المالية لمشروعك.

في هذا المقال، سوف نناقش التالي:

  • دور الموارد المالية في تسيير المشاريع بشكل جيد.
  • كيفية مواءمة الطموحات مع القدرات المالية.
  • لماذا تُعد مراقبة نمو الأصول في نفس مستوى أهمية مراقبة نشاط الموظفين.
  • الدور الذي يقوم به التفكير المرن في عملية الحفاظ وتحسين الشؤون المالية.
  • لماذا ينبغي عليك أن تتابع الحسابات من خلال عنصر داخلي في الشركة، بدلا من الاستعانة بمصادر خارجية.

ما الفارق بين شركة تزدهر باستمرار، وأخرى عادية؟ قد يكون فقط في التركيز والوعي بأهمية الحفاظ على إمكانيات مالية مميزة.

في بعض الأحيان، قد يكون ذلك هو الفارق بين النجاح أو الفشل في إدارة الشركات.

عندما نأخذ في الاعتبار أن 66% من الشركات تواجه تحديات مالية، فهذا يعني أن رواد الأعمال ينبغي أن يهتموا عن قرب بعملية التدفق النقدي، ولا سيما في المراحل الأولى من عمر شركتك. من منظور إدارة الأعمال، فالحفاظ على القدرة المالية للشركة ليس مهما فقط، بل ضرورة.

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الحفاظ على القدرات المادية في شركتك.

حتى تجعل الأمور الاقتصادية في شركتك على ما يرام، خذ في الاعتبار هذه الفرص التجارية:

  • توسع بشكل مسؤول ومنضبط، واجعل ذلك متماشيا مع مشاريع واقعية.
  • راقب كيف تستخدم أو تهمل الأصول المالية.
  • ضع قواعد للعمليات والمعاملات في شركتك تتسم بالمرونة.
  • اجعل هنالك موظفي حسابات داخل شركتك.

توسع بشكل منضبط.

توسع شركتك قد يكون هو هدفك النهائي، ولكن التوسع أيضا هو أحد الأشياء التي ينبغي أن تخطط لها بدقة حتى لا تتأثر القدرات المالية للشركة.

فقط 22% من الشركات التي تم إنشاؤها في الفترة ما بين 2011-2021 استطعن أن يتوسعن بنجاح. لذا تخيل مدى صعوبة إتمام التوسع!

من منظور مالي، من المهم جدا أن يكون التوسع مبني على خطوات وتدرج. التطلع لتوسع عظيم قد يدمر قدراتك المالية. في أثناء انشغالك بالعديد من المشاريع، لا تنس أن قدراتك محدودة، وعليك ألا تقم بالعديد من المشاريع والخطوات التجارية التي لا تستطيع إدارتها جيدا.

تذكر، تساهم التوسعات السريعة في 74% من فشل الشركات الناشئة. لا ينبغي أن يكون ذلك سببا في القلق، ولكن ينبغي أن يكون ذلك سببا في تذكيرك بأهمية التدرج.

ومن المهم أيضا ألا تبالغ في الاستثمار المبني على التوقعات والتنبؤات. إيجاد التوازن المثالي بين التوسع المنطقي والرغبة في التوسع السريع، يعد أمرا بالغ الأهمية لشركتك في المستقبل.

على كلٍّ، فإن العلاقة واضحة بين التوسع السريع والفشل المالي.

راقب ما تستخدمه، وما تهمله.

كأصحاب شركات، فنحن دوما نؤمن بأن أهم من ندفع لهم الأموال هم الموظفون.

لا شك أن الموظفين مهمون للغاية لنجاح أي شركة، لذلك من غير المنطقي أن تضع الجزء الأكثر من إنفاقك في اتجاه لا يعمل أو غير مهم.

بالرغم من ذلك، فعليك أن تتبع نفس القاعدة مع الأصول الأخرى التي لديك.

حتى تبدأ في بناء مشروع من الصفر، ينبغي ألا تسلط نظرك على موظفيك فقط، بل اطلق بصرك نحو الأصول الأخرى أيضا، مثل الأجهزة، والمباني أو المرافق.

يمكنك أن تدرب موظفيك، أَو تعيد توزيعهم، أو تطورهم، أو حتى تساعدهم على المضي قدما. ولكن من منظور إدارة الأعمال، سيظل هنالك فجوة ينبغي أن تُسد إن لم تتوسع داخليا.

إن كنت تستثمر في الأجهزة التكنولوجية، وتشتري أجهزة حواسيب محمولة تكلفك 1000 دولار، وتستثمر في مرافق المكاتب، فإن ذلك نهج عقلاني لإدارة الشركات ويساهم بطريقة ما في نمو صافي أرباحك.

إن لم تكن تستثمر في ذلك، فقد حان وقت إعادة التفكير في الأمر.

فكر بمرونة.

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في 2017، قامت شبكة برايس ووترهاوس كوبرز للخدمات المهنية بعمل تقرير يهدف إلى تحليل كيف يمكن للنهج الحديث لإدارة المشاريع أن يؤدي إلى تطور عام في الأداء.

في ذلك التقرير، وُجِد أن القرارات المالية المبنية على المرونة، يُقضى فيها وقتا أكثر بنسبة 20% على الأفكار، ويتم استهلاك وقت أقل على جمع المعلومات.

ولذلك، تقضي الأقسام المالية في الشركات وقتا أكثر في فهم ما أنفقوا، وكيف أنفقوه، ويتخذون قرارات تجارية سليمة بناء على ذلك.

يتطلب هذا تحولًا جوهريًا في الطريقة التقليدية التي تُدار بها المشاريع. بالرغم من ذلك، فقط 24% من مسؤولي الأقسام المالية يقضون وقتا في القيام بأعمال تتطلب تفكير استراتيجي، وإن لم تكن شركتك ضمن هذه النسبة، فإن ذلك يجعلك خارج سباق المنافسة.

لاحَظَت أيضا شركة كيه بي إم جي، أن إضافة عملية التفكير المرن في الأقسام الخاصة بالشؤون المالية يؤدي إلى التخلص من الإنفاق عديم الفائدة، وهو نهج مشابه لذلك المطلوب لمراقبة ما تستخدمه، وما يزيد صافي أرباحك.

على الأقل، فإن التفكير المرن إذا تخلل الأقسام المالية، سوف يحول التركيز من الإنفاق المبالغ فيه من أجل المستقبل، إلى الإنفاق المنطقي من أجل الحاضر.

كم هي واضحة الفوائد التي تجنيها من الإدارة المرنة!

اجعل في شركتك موظفي حسابات.

بهدف النمو، قد تحاول الاستعانة بخبراء من خارج الشركة ليقوموا ببعض الأدوار أو الوظائف الأساسية.

قد تستعين ببعض الموهوبين الخارجيين  ليلقوا نظرة على بعض الأقسام في شركتك، وبلا شك سوف يستغلون المصادر المتاحة لديهم أفضل استغلال. سيتيح لك ذلك وقتا أكثر للتركيز على الأساسيات، بينما تشعر أن الأشياء تتحرك بعيدا في الخلفية. من منظور إدارة الأعمال، فإن ذلك قد يكون له معنى، ولكن بشكل سطحي.

ومع ذلك، من منظور مالي، ستحتاج إلى أكثر من مجرد شخص يلقي نظرة واحدة على كشوفات الأرباح والخسائر الخاصة بك – خاصة إذا كنت تركز بشكل كبير على تنفيذ ثقافة مالية مرنة.

في الواقع، فإن الطريقة التي تسير بها الأمور في شركتك هي طريقة فريدة، وإن أردت أن يتم فهم الماديات في شركتك بشكل عميق ومتوافق مع الأهداف الكبرى للشركة، فعليك أن تستعين بموظفين مسؤولين عن الحسابات بشكل كامل.

ذلك لسببين:

الأول: كما ذكرنا، إن مشروعك فريد ومميز. عندما تستعين بخبير مالي من خارج شركتك، هل تستطيع أن تتأكد أن تركيزه منصب على الأمور المالية في شركتك مدة 40 ساعة في الأسبوع؟ إن كنت تريد فهما عميقا للماليات في شركتك، فإن 40 ساعة أسبوعيا تعتبر المدة المناسبة لذلك.

السبب للثاني، والذي قد يظهر أنه تافه، ولكن فكر فيه جيدا: هل تُفضل أن يكون المحاسب متاحا هاتفيا، أم في المكتب المجاور؟

سواء كان وجود المحاسب داخل شركتك من أجل دردشة تافهة، أو من أجل العصف الذهني، أو من أجل جلسات استخلاص الاستراتيجيات، فإن وجود شخص في الشركة يراقب كل الإنفاق لمدة أربعين ساعة في الأسبوع، من شأنه أن يحدث فرقاً حقيقياً في الثروات المالية التي قد تحققها شركتك.

بناء مشروع قوي ماليا.

هنالك العديد من الفرص المتاحة أمام أصحاب الشركات الناشئة الذين يبدأون رحلتهم. من بين العديد من الطرق التي يسير فيها مشروعك، يظل أحد أهم تلك الطرق= الأمور المالية.

إذا أردت أن تبدأ مشروعك في الإمارات، فبلا شك ستسعى إلى تقليل تكاليف ذلك قدر المستطاع، وهذا هو أحد أدورانا في منطقة تأسيس الأعمال. شراكتنا مع العديد من البنوك في المنطقة ستوفر لك فرصا مميزة لفتح حساب بنكي، ومعرفتنا العميقة في مجال المشاريع الناشئة – خصوصا في الإمارات والخليج – تعني أننا سنستطيع إخبارك بالتكلفة المناسبة لبدء مشروعك.

إن كنت تبحث عن مساعدة لبدء رحلتك الخاصة، تواصل معنا على +97143873401 أو قم بملء الاستمارة على موقعنا وسنتواصل معك خلال 55 ثانية.

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Why Thinking, Not Doing, Holds The Key To Scaling Your Business

In our latest blog, you will be reading about:

  • The importance of thought in entrepreneurship
  • The relationship between thinking and doing in business
  • How thinking allows entrepreneurs to position their business effectively, and formulate well-considered plans
  • The personal benefits of taking time to think in business management

“The good news for small businesses is that the big ones rarely bother to use their advantage to its maximum. Why? Because they’ve forgotten how to think like entrepreneurs.” Richard Branson.

Remember the feeling of the first brainwave you had about your new business idea? The number of thoughts running through your mind, how you could do A to make B happen, and how that would solve C. 

I’m sure if you went back to read your first marketing plan, you’d be amazed at just how many business management ideas you came up with.

See, what Richard Branson is alluding to here is – thinking is an entrepreneur’s trait. And, once businesses establish themselves, and get lost in the day-to-day operations of doing, they lose sight of what got them to their position in the first place.

It’s often noted that small businesses have the means to outperform the might of big businesses. There are of course a multitude of factors that contribute to this, but one of the major factors? 

They trade thinking for doing.

Blog Image of Man Thinking

Here are some of the main reasons why, as an entrepreneur, thinking holds the key to scaling your business:

  • Thinking makes doing more focused
  • Thinking allows you to scan the market, and gain perspective
  • Activities like journaling cleanse your mind in a position of responsibility and leadership
  • Doing allows you to ‘be’ – thinking allows you to ‘become’

Thinking Makes Doing More Focused

The term ‘focus’, in business, mostly refers to the ‘aim’ of the business.

The aim is the intention to achieve – it’s the North Star you are aiming for, essentially. And, if you are fortunate/astute, you may hit your short-term aims pretty quickly if you bring something to market that solves a clear problem. 

If done correctly, amazing! You’ve got off to an incredible start on your entrepreneurial journey. However, keep your head buried in the ‘doing’, and they may start to wobble on the tracks.

It’s no secret that premature scaling is a thing in business.  In fact, Forbes believes it contributes to 70% of startup failures. 

Now, that’s not to say that this 70% simply wasn’t ‘thinking’ – but they were probably very busy doing, and didn’t take the time to manage their success.

The temptation to keep the juggernaut moving if you’re experiencing high growth early in your entrepreneurial journey is of course a key decision you need to make in business management. 

However, being able to take a step back to think – firstly, is scaling the right thing for my business right now? And secondly, if the answer is yes, how should it be achieved? 

Well, that may just be the difference between being part of the 70%, and the other 30%.

This all ties into the need for business development and marketing plan that has thought 

Scanning the market and gaining perspective

Without making you feel too big-headed, your time as an entrepreneur is so unbelievably important. 

It is critical that you are using it effectively to ensure you are keeping track of your position in the market, and whether it is changing. 

Which it almost definitely is. Constantly.

19% of startups will fail because they are outpaced by their competitors. 

Outpacing doesn’t always mean getting to the target audience quicker either – sometimes, it just means having a better understanding of the market in general and knowing your position within it. This helps guide business management decisions, and as an entrepreneur, it should be your aim to adapt your marketing plan to reflect this.

Man Thinking Blog Image

The Power of Journaling

Moving away from the business side of ‘thinking’, there is also a highly valuable personal element to practices such as journaling, which have the power of thought at its front and center. 

In a recent mental health survey, 80% of people who adopted journaling practices felt reduced levels of anxiety, which helped them see the world more clearly and take more decisive, positive action. 

While being an action-oriented can of course has its benefits, getting lost in the actions can stop you from reflecting

Journaling unlocks the power of your thoughts, which are what unlock your potential.

Doing allows you to ‘be’, but thinking allows you to ‘become’

Not a Dalai Lama-inspired quite – simply, a mantra to take forward into your business. 

Doing is effective for ticking off tasks as you go along. It’s often associated with the short term, handling the demands of today so to speak. It’s present-minded, which of course has many benefits. 

Nonetheless, as an entrepreneur in a position of business management leadership, it is your responsibility to have a vision for the future, as well as to ensure the ‘doing’ gets done. 

Thinking allows you to paint a picture of what you want to look like in the future. Doing provides your team around you with 

Thinking is what creates vision, and forward momentum. Without thinking, you do not have the ability to ‘do’ effectively. 

Other related blogs that may be of interest:

Why Startups with Flat Organizational Structures Often Fail

In this latest blog, you will learn about:

  • What flat organizational structures are, and how they are relevant to startups
  • The behaviors you can expect to observe in startups with a flat organizational structure
  • How do these behaviors contribute to these organizations failing
  • Decisions you can make in your startup company to avoid these situations

Have you ever tried to organize a group event with your friends? Whether it’s dinner, a night out, or a trip to the beach…it can be painful, right?!

It isn’t normally until somebody pulls rank, takes the lead, and makes a decision that everybody agrees to that anything gets organized.

Little did you probably realize at the time, but you just obtained a small insight into the world of a startup company.

Startup Organizational Structures

As an employee in a flat organizational structure, you may feel that you work for a forward-thinking, modern company where everybody calls the shots for themselves and there’s plenty of self-autonomy. This is a typical approach for startups. However, that doesn’t always work well and considering 90% of startups don’t make it past year five, it’s critical to start off on the right foot.

The main reasons why startups with flat structures fail are:

  • It’s not clear who makes the final decisions
  • It’s not clear who anybody is reporting to
  • There is often an overlap of your responsibilities, and your job description develops into something you didn’t sign up to
  • Motivation is lacking, as there’s no clear progression path

There’s No Clear Decision Maker

At the core of a flat organizational structure is self-autonomy. The well-intended consequences of implementing a team that has no specific authority within it are that it provides individuals with the ability to make their own decisions, and own them.

From the perspective of an employer, this is a huge statement of trust in your employee. It is to be admired to some degree, as you would think that such a level of ownership over one’s work would push them to thrive and become masters of their field.

There’s one issue though – who actually makes the final decisions? As an employer, it may look good to hand over the reins of a hugely important function in your company to an employee and let them get on with it, but say you have a client that has an issue with that work – isn’t it your responsibility as the face of the business to fix it?

A flat structure in such circumstances can ultimately result in a lack of oversight. Quality control can’t always be defined by the person creating the work, and it often needs a second opinion. If nothing else, it’s vital that the leader of a business is constantly setting the direction of the company and ensuring that employees are going in the same direction. 

An absence of clear leadership can quickly spiral into a lack of direction and absence of quality control, and this is often to the detriment of startup companies.

In your own startup, define very clearly who sets the tone and direction of the company. That could be one person or a small handful of people that you consider part of your leadership team that operates on a consensus basis. Even still, in situations like this, the buck has to stop with somebody in some kind of position of authority.

An absence of this in the workplace is certainly a contributing factor to startups that struggle.

Reporting Lines Aren’t Defined

Reporting lines are typically between an employee and a more senior figure in the company that is above them in the organizational hierarchy. The role of the senior figure often manifests in what’s called a ‘Line Manager’, someone who is “responsible for overseeing and managing employees to fulfill business goals”. 

Speaking from an employee’s perspective, having clear reporting lines through a line manager creates order within the chaos. There is often solace to be found in knowing you have one person of authority in the business that you can turn to for guidance, advice, and to create a bit of order. From the perspective of the line manager, having a direct connection to employees ensures oversight of work progress, and creates a clear chain of command between the line manager and those above them. 

In flat organizational structures, however, these reporting lines…disappear. Everybody reports to everyone, which essentially means that everybody reports to nobody. There are no line managers, and you essentially become your own line manager. Again, a subject of autonomy that may be appealing to some, but it creates an information clog. 

This clog in reporting lines can translate into critical business information – and sometimes, operational problems themselves – not being highlighted in good time for them to be solved effectively. 

The consequences of this for small businesses can be monumental, particularly in client-facing environments. The need for clear communication between client and customer has been highlighted in previous Business Incorporation Zone blogs, and that is exactly for reasons such as this.

In your own startup company, it is critical to have at least one person beneath you whom your other employees are reporting to. Creating that information funnel can be the difference between your new venture being a success, and falling victim to the trend that 90% of startups do. 

Job Responsibilities Overstretch

Now, a good employee will always take on the odd task that’s outside of their remit to keep things moving along in the business. Nobody wants a ‘that’s not my job’ character in the team, although, of course, a balance has to be struck about how often tasks outside of people’s remit are being performed.

On the subject of balance, imagine you are hired to a position that has a very specific remit you happily signed on the dotted line to perform. 

Little by little, extra tasks are being thrown onto your plate – you’re hired for marketing, but you’re now performing a sales function. You take care of the finances, but all of a sudden you have some digital marketing tasks to fulfill.

Not only have you got too much of your own work to do, but you’re now out of your comfort zone. It’s not what you’re good at, and, critically, the psychological contract between you and your employer is being eroded. This has one of the most devastating impacts on employee retention that any single business can experience, and perceived breaches in the contract can affect an employee’s commitment to the company – and make them consider leaving.

Constant employee turnover is a costly business for startups, and in an environment where you’re almost definitely going to be ensuring every penny in the bank goes towards worthy investments, this is something that is imperative to avoid.

When building a team, ensure there is transparency in your job descriptions – and preferably, stick to what’s on there.

Employees Have No Incentives

There’s a reason why the phrase ‘climbing the ladder is so prominent in business. Figuratively speaking, it is indeed representative of the hierarchy that is required for companies to thrive.

The crux of the matter here is again from an employee’s perspective – what incentive do I have to work hard, go above and beyond, and make a truly positive impression in a company that has no room for me to progress from my current position?

What’s more, if I’m ‘stuck’ in my current position, with no room for progression, how will I be able to justify a pay rise? Of course, your work can contribute to this discussion, but we often correlate a new, more senior position with a pay increase. Flat organizational structures shut the door on this, and it can make people feel like they’re not particularly working towards something. 

The consequence of this is a lack of motivation from the employee, which in startup companies can have a devastating impact. Startup companies typically have small headcounts, and the importance of maximizing the output of every employee to keep things running smoothly is critical at this point.

Add into this the issue of retention, and its cost on a business, and you have a perfect storm that will contribute negatively to the performance of your startup company. 

Flat Organizational Structure Problems

While it is often approached with the best of intentions, and there is a desire to be modern and forward-thinking from startups that apply a flat organizational structure, it can cause a lot of issues that ultimately contribute to the failure of a business. 

Having a clear structure within your team is actually beneficial to you and your business – issues with hierarchical structures tend to center around the misuse of authoritative positions, not in the fact that they exist themselves.

At Business Incorporation Zone, we work with a plethora of startup businesses that combined together have decades of experience in establishing structure in their company. If you’re starting out on your entrepreneurial journey, not only can we assist in the setup of your business, but we can lean on our own personal experiences with startups to help provide guidance to you about what may work best for you.

Give us a call today if you’re looking to launch your dream business venture in the UAE – or beyond in the wider GCC region – and we’ll put your own time and resources back into the thing you’re passionate about, while we take care of the rest. 

Read the Arabic version for the read here.

Here are some other reads that you might be interested in-

How To Keep Your Business Financially Healthy

In this blog, you will learn about:

  • The role of finances in operating a healthy business
  • How ambitions to scale should be aligned with financial feasibility
  • Why monitoring asset activity is as critical as employee activity
  • The role that lean thinking plays in financial health
  • Arguments for keeping your accounting house, rather than outsourcing

An acute awareness of how to keep your business financially healthy can be the difference between a business that thrives, and a business that simply gets by.

In some cases, it can be the difference between success and failure in business management, too.

When we take into consideration the fact that 66% of small businesses face financial challenges, it has always been a critical focus for entrepreneurs to keep close control of their cash flow. This is particularly true in the early stages of your company’s life cycle. From the perspective of business management, keeping your business financially healthy isn’t just important – it’s a necessity.

Image of keeping your business financially healthy tips blog from BIZ

Keeping Your Business Financially Healthy

To keep your business financially healthy, you should consider the following business opportunities:

  • Scale responsibly, and in line with realistic projections
  • Track how you use your assets…or how you don’t use them
  • Apply lean principles to your business operations
  • Keep your accounting in house

Scale Responsibly

Scaling your business will be an ultimate end goal for you – but it’s one that you must incrementally work towards in order to keep your finances under control.

Only 22% of businesses launched between 2011-2021 managed to scale successfully, demonstrating just how difficult it can be to complete correctly.

From a financial perspective, it is vital to only scale for your next target and not your end target. Shooting for the stars too quickly can become a burden on your finances; while you’re busy juggling all the entrepreneurial plates, it’s important only to carry the responsibilities that you can, and not create too many financial obligations which you can’t be confident of fulfilling. 

Remember, quick scaling accounts for 74% of startup failures. This shouldn’t be a source of anxiety, but it should act as a reminder to aim for incremental, rather than the moon.

It is also vital not to overinvest based on predictions and forecasts. Finding the perfect balance between scaling and running before you can walk is critical for future business opportunities.

Overall, there is a clear correlation between scaling too quickly and financial failure. 

Track What Gets Used…And What Doesn’t

As business owners, we can get caught up in believing that the most important thing we pay for is people.

Now, before we continue, clearly your employees are critical to business success. You can’t afford to place the largest portion of your expenditure into something that doesn’t work.

However, this is the same principle for your other assets too. 

To build a business from the ground up, you will need perspective on not just the role of people in your business, but also other assets too. 

This comes in the form of software, premises, 

Employees can be trained, repositioned in roles, promoted, etc. There is an argument that they can move on too, but from a financial perspective you will still be required to plug that resource gap – unless you scale downwards.

If you’re investing in technologies, hardware such as $1,000 laptops, and office premises, it is a sensible business management approach to ensure that it’s contributing in some way to your bottom line.

If it isn’t, it’s time to reevaluate.

Blog Image of Business Management Tips from BIZ

Think Lean

In 2017, PWC completed a consultation report critically analyzing how a modern approach to financial management can translate into improved overall business performance. 

Their report found that finance functions that successfully transform themselves on the back of lean (principles) spend 20 percent more time on insights, and less on data gathering.

That is, finance departments had more time to truly understand what they were spending, how they were spending it, and make sound business decisions on the back of this. 

This requires a fundamental mindset shift in what is a traditionally conservative business department. However, only 24 percent of finance functions are currently spending time doing work that requires strategic thinking – so it can become something that separates you from your competition.

KPMG also noted that embedding lean principles into finance departments provides autonomy towards eliminating non-value adding spend – a similarity in approach to tracking what you use, and what it contributes to your bottom line.

As a minimum, thinking lean in your finance department shifts the focus from overspending for the future, to sensible spending for the present. 

The benefits of a lean mindset are clear in business management.

Keep Your Accounting In House

In the quest for growth, it can be tempting to outsource some of your core functions to the ‘experts’. 

There are plenty of talented teams that can pick up some of your departments, and undoubtedly they will do a great job with the resources available to them. This, too, would leave you with more time to focus on the fundamentals, whilst feeling like things are motoring away in the background. From a business management perspective, it can make sense on the surface.

From a financial perspective, however, you will need more than just a pair of eyes to have a once-over of your profit and loss sheets – particularly if you place a great deal of emphasis on implementing a lean financial culture. 

The reality is, the true functionality of your business is unique, and if you want your finances to be deeply understood in relation to your wider business goals, it would be a sensible move to keep this function in-house and hire a full-time employee.

This is for two reasons, essentially. One, as just mentioned – your business is unique. When you outsource your finance function, can you guarantee that there are eyes over your finances for 40 hours a week? If you want that deep understanding, that’s the time required to dedicate to it.

Two – and this one seems trivial, but think about it – would you rather have your accountant available over the phone, or in the office next door?

Whether it’s for trivial chats, brainstorming, or a number-crunching strategy session, having someone who is keeping track of all spending, for 40 hours a week, around the corner from your desk, could make a real difference in the financial fortunes of your business.

Building A Financially Healthy Business

There are a wide array of business opportunities available to startups when they begin their new venture. Amongst the multitude of directions that your business can head, one thing must always be in your line of vision – your finances.

When it comes to incorporating your business in the UAE, keeping costs down as much as possible will of course be on your mind, and this is something that we at Business Incorporation Zone can assist with.

Our long-standing partnerships with major banks in the region mean we can present you with tailored opportunities for corporate bank account opening, and our in-depth knowledge of both the industry and the region ensures we know exactly what setup package is right for you.

If you’re looking for a helping hand with incorporating your new venture, let’s connect. 

Call us at +97143873401, or fill in our website form and we will call you back within 55 seconds.

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How to Uncover Your Strengths and Weaknesses – & What to do Once You’ve Found Them

When starting a new business, both time and resources are tight. That’s why it’s vital that your efforts are focused on the right areas. To determine where your time is best spent you must first identify the strengths and weaknesses of your startup.

There are a few easy ways to do this:

  • Monitor recurring issues
  • Find your USP
  • Determine what is generating ROI
  • Consider the tasks you prefer

With your strengths and weaknesses established, you can focus resources on the areas that need them most. On top of improving areas of weakness, this also allows you to ensure you are fully capitalizing on your strengths.

Keep an Eye on Recurring Issues

Is there an issue that keeps coming up at your startup? Maybe your team always struggles to meet deadlines or stick to budgets. If so, this is strong evidence of a company-wide weakness.

The first thing to do to tackle a recurring problem is to understand why it keeps happening. If your startup often goes way over budget, is this simply down to poor financial management? Or could it be a problem with communication between sales and execution?

In the words of the famed writer Ernest Agyemang Yeboah: ‘A recurring problem needs nothing but a tactical head-on solution.’

Such a tactical, head-on solution often requires professional help. You could consider bringing in a finance expert, for example, to train your staff on how to handle a strict budget. Alternatively, you could hire a new team member skilled in budget management.

In other cases, a change in a process may be required such as a new sign-off or quoting procedure – to ensure everyone is working off the same page from sale through to delivery.

USP: Determine What You Have That Your Competitors Don’t

Just as important as improving the weaker areas of your business is ensuring that you maximize your greatest strengths. To do this, you first need to fully understand what they are.

One way to do this is to compare your offering to that of your nearest competitors.

Checklist for conducting competitor analysis:

  • Examine your competitors’ web presence/reach. How visible are they? Where do they rank?
  • Understand their messaging. What are they selling as their greatest strengths? How do they compare against yours?
  • Compare your offerings side by side. What do you offer that they do not?
  • Compare pricing. If your offering is similar or stronger, does the pricing reflect that?
  • See what customers are saying. Read reviews and check social media. Is there a gap your product/service can fill?

When looking at your competitors’ offerings, the key is to pinpoint exactly what you offer that they do not. This is where you are strongest.

These market differentiators are the reason why a customer is likely to pick your business over another – they are your USP. It is vital that you always play to these strengths and place them at the very heart of your messaging.

If you are looking to get your company license in the UAE, free zone, or mainland, or even in Qatar and Saudi Arabia –  then our team can help.

Examine What Brings in the Most ROI

Some small businesses have an idea of ‘what they are but rarely check to see if the sales figures tally. In fact, there are those who would not identify this as a problem, believing that if the business is turning a profit, it doesn’t really matter where it comes from. The issue, however, is that a business in this position is not playing to its strengths.

The most profitable area of your business is where you are strongest, therefore this is the area you should be leading with. It sounds simple when presented like this but many businesses struggle to adapt in this way, often with dire consequences. A lack of flexibility is among the most common reasons why new businesses fail.

Common Reasons for Startup Failure:

  • Poor market research
  • Bad planning
  • Lack of financing
  • No market presence
  • Rigidity

Don’t fall foul of this common pitfall. Follow the money. Identify the most profitable area of your business and maximize it to its full potential.

Consider What You Love to do Compared to What You Dislike

One very easy way to determine your own strengths and weaknesses as an entrepreneur is to think about the tasks you love and those you dread.

Is there anything in particular that you always put off? Or something that you can’t wait to start on? Generally speaking, those tasks that feel like a chore are your weaker areas while the ones that you actively enjoy are your strengths.

As for what to do with your findings, there are two main schools of thought. Some would advise that you focus on improving your weaker areas. There is certainly merit to this approach. However, I am of the belief that in the early stages at least, it makes more sense to play to your strengths and delegate your weaknesses.

Personal growth is hugely important, as is learning new skills. However, in the early days of a startup, it’s more important to get the job done. If you’ve established that your personal strengths lie in driving sales, then right now that’s where you need to be. If you really haven’t got a head for figures, then delegate that task to someone who does.

Quite simply, when running a startup, you need to be wherever you add the most value.

We are the team of Business Incorporation Zone, your best business setup advisor across the Gulf Region. If you are looking to open your company in Dubai, across the UAE, in KSA or Qatar, get a free zone license, or start a business in the mainland, then we can help. From visa applications to all the necessary admin tasks, we handle it all – leaving you free to get on with your business.