Comments Off on Salary Increase: Teachers Praise Buhari’s intervention

Salary Increase: Teachers Praise Buhari’s intervention

Posted by | October 1, 2021 | blog

The Nigerian Teachers Union (NUT) has commended President Muhammadu Buhari for his efforts to restore the glory of Nigerian teachers.

The union’s general secretary, Dr. Mike Ike-Ene, delivered the eulogy at a symposium organized by the Ministry of Education on Thursday in Abuja.

The symposium was part of the activities commemorating the next World Teachers’ Day 2021 with the theme “Teachers at the heart of the recovery of education”.

Ike-Ene, who was represented by NUT member Okoroafor Okechukwu, noted that efforts to conclude work on the 2020 promise to teachers by the president were commendable.

He also praised the guarantee provided by the Federal Government that the implementation of the improved salary structure for teachers, extended years of service for teachers, assignments and other incentives would begin in January 2022.

According to him, updating incentives will go a long way to repositioning the teaching profession, as well as giving teachers the confidence to compete globally.

“If the years of service for teachers, for example, are increased and sustained to 40 years of service or 65 years before retirement, there will be a huge benefit.

“In addition, increased motivation increases the momentum, ego needs of teachers and encourages them to focus and treasure their work.

“The teaching profession deserves its place of honor in attracting the best brains.

“Where attractive conditions exist, the lost glory of the profession will undoubtedly be recovered.

The Nigerian News Agency (NAN) reports that President Buhari, on the commemoration of World Teachers’ Day on October 5, 2020, approved a special salary scale and special pension plan for teachers.

He also said that the Trust Fund for Tertiary Education (TETFUND) would begin to finance teaching practice in universities and colleges of education.

In addition, he promised to secure provisions for the rural employment allowance, the science teacher allowance, and the special allowance.

The president also promised to sponsor at least one refresher training, the construction of low-cost housing for teachers in rural areas, and the reintroduction of the scholarship.

Other promises are the expansion of the annual awards for teachers and presidential schools and the payment of stipends to students of bachelor of education and automatic employment after graduation.

As part of the effort to make the promise come true, the president issued a letter in June about a bill to raise the retirement age for teachers from 60 to 65.

The bill also seeks to extend the years of service of teachers from 35 to 40 years.

Meanwhile, relevant stakeholders are working on other incentives, which are policy matters, to ensure their implementation by 2022. (NAN)

Termination of Employment

Termination of Employment contract is one of the most difficult aspects of Human Resource Management, depending on the side of the divide you are. It is one assignment many HR Managers or whoever that manages the assigned role of workforce management deplores because it is a negative role, but a difficult aspect of the job that must be executed. This was one of my albatross as a Human Resource Manager, when I worked in one organisation because the Managing Director always used it wrongly as a threat to employees which should not be – it could be very demotivating!

According to Wikipedia, “termination of employment is an employee’s departure from a job and the end of an employee’s duration with an employer. Termination may be voluntary on the employee’s part, or it may be at the hands of the employer, often in the form of dismissal (firing) or a layoff”.

“Termination of employment refers to the end of an employee’s work with a company. Termination may be voluntary, as when a worker leaves of their own accord, or involuntary, in the case of a company downsize or layoff, or if an employee is fired” – Investopedia.

Termination of employment according to Oladosu O. in his book, The Nigerian Labour and Employment Law, “is the bringing to an end the employment relationship”. It is the severance of relationship between the employer and employee.

Termination of employment could occur from either the employer or employee but should meet the written terms of the contract. The employer nor the employee is neither under any obligation to give reasons for the termination of employment contract.

You should know that Section 11 of the Labour Act in terms of contract of employment, provides for a compulsory issuance of notice or payment in lieu of notice by either party. Section 11(6) of the same act provides that “the right”to notice may be waived by ether party to the contract of employment by a payment in lieu of notice“.

Be reminded that contract of employment may not always be a written document; all that is required is that parties involved should reach an agreement and abide by the terms of engagement.

The termination of employment and dismissal brings the contract of employment to an end. The law on termination and dismissal in Nigeria is built around Common Law.

Factors leading to termination of Contract of Employment:

i). Expiry of Contract of Employment: at the expiry of fixed term contract for which the employee services may no longer be required, termination may be the next option;

ii) Mutual consent/ agreement: this could be occasioned by retirement or may be a “constructive dismissal”, a situation where employee is advised / forced to resign by the employer due to some irreconcilable differences.

iii). By notice e.g.

  • Resignation
  • Dismissal
  • Redundancy (when an employer ceases to carry on the business)

iv). Breach of contract, necessitating the employer to dismiss the employee without notice.

Examples:

a). willful disobedience of lawful order, evidencing total disregard for the terms of contract and utter disrespect for constituted authority;

b). dereliction, abandonment or desertion of duty;

c). serious negligence or prolonged incompetence;

e). misrepresentation or falsification of information supplied in any official document;

f). on the receipt of unsatisfactory report(s) from the previous employer of the employee on probation;

g) giving out or divulging confidential information about the company’s trade secrets to a third party or person not entitled to know;

h). conviction for felony or any other criminal offence by a competent court of law;

i). dishonesty, misconduct or any act likely to bring the company’s name into disrepute or ridicule;

j). frustration emanating from the death, illness or imprisonment of employer or employee.

Dismissal:

The Webstar’s Dictionary and Thesaurus defines dismissal as the act of removing a person from office. Nigeria Law refers to dismissal as the determination of a contract of employment due to the employee’s misconduct and it is carried out summarily without advanced notice nor payment in lieu of notice. Employers adopt this to erring employees in cases of gross misconduct. In most situations, it takes immediate effect and it is the sole right enjoyed by the employer. The principle of fair hearing and natural justice must apply in such situation.

Dismissal does not only include the termination of an employee’s contract by his employer; it is also ending a fixed term contract without a renewal on the same terms.

Secondly, it is the termination of employment by the employee where the employers conduct forces him/ her to do so. This is referred to as “constructive dismissal” significantly precipitated by employer’s breach of contract, signifying that the employer no longer wants to be bound by one or more terms and conditions of the contract. The employee may decide to leave immediately depending on the gravity of the breach and ability to meet up with such conditions and responsibilities that appertains thereto (if any) to such actions.

Dismissals vary as follows:

Summary dismissal: This is when the employer dismisses the employee without the required notice period and as such, the employee may also not be entitled to payment(s) – entitlement(s). This occurs and can only be justified if the employee has committed a serious breach of contract otherwise he or she could seek redress in a competent court of law.

Unfair dismissal: An employee may approach the National Industrial Court to bring claim if he/she believes that he/she has been unfairly dismissed. The onus will lie on the employee first to prove that he/ she has been dismissed; and the employer’s responsibility at this point will be to prove that the dismissal was fair.

Wrongful dismissal: The employee can lay claim for wrongful dismissal if he/ she can prove with evidence that the dismissal was without justification as he/ she has not breached any part of the contract. The employee will also have to prove that it was not with appropriate notice and that that was ignored by the employer, thereby suffering losses as a result. The employer will be liable to wrongful termination in the Court of Law.

If wrongful dismissal can be proved, the employee may be able to claim some damages resulting from loss of earnings payable during the notice period or balance of wages due under fixed term contract.

In dismissing an employee, the employer is not justified except there were some serious offenses.

Resignation:

Resignation is a form of termination of contract by notice. Contracts are expected to specify notice periods. Be that as it may, termination of employment during probationary period carries minimal notice period or none, depending on several variables – position, company policy, reasons for resignation etc. Notice may be waived, or payment made in lieu of notice.

Employees may resign appointment for any number of reasons, personal or occupational which could be a reflection on the management style, company’s culture, harassment, increased work hours, new work location etc.

When an employee announces his/ her resignation, verbally or by letter, it is pertinent for Management to find out reasons why he/ she is leaving through the exit interview so as to make possible adjustments, where necessary.

Conclusion:

In managing termination of employment, the Human Resource Manager and Management generally should consider how the factors above apply in a given situation, depending largely on the individual concerned, the responsibilities of the incumbent job holder, cost of replacement in terms of time and finance, public perception and corporate image, company’s policy etc.

Contributed by Agolo Uzorka Eugene, CEO/ Lead Consultant, Eugene + George Consulting Limited, a front-line Human Resource Company, providing world-class services to a wide-range of clients (www.eugenegeorgeconsulting.com)

Termination of Employment
Agolo Uzorka Eugene

Comments Off on How to Make Money Online (with complete guide)

How to Make Money Online (with complete guide)

Posted by | November 14, 2021 | Career Tips / Blog

Making money online is easy

We have dedicated this page to help you learn how to make money online. It is very important, because the world has changed. Everything now revolves around the internet. As a result of this, there are so many opportunities to make money online. So, if you want to learn how to make money online, stay in touch with this page because we will be adding more content regularly!

Table of Contents

  • Best ways to make money online
    • 1. Blogging 
    • 2. Freelancing
    • 3. Affiliate marketing
    • 4. Digital marketing
    • 5. Buying and selling websites or domain names
    • 6. Video blogging on YouTube
    • 7. Become a Facebook partner.
    • 8. Sell online course
    • 9. Drop Shipping
    • 10. Completing Surveys
    • 11. Online Trading
    • 12. Social media
    • 13. Sell books/ebook online
    • 14. Build websites
    • 15. Teach your native language and any language you are excellent at
    • 16. Buy and sell Bitcoin on Quidax
  • In Conclusion:

Best ways to make money online

You can make  money online in the following ways:

1. Blogging 

If you are looking at how to make money online, then blogging is one of the most reliable ways. The amazing thing about blogging is that, you can be blogging about what you love, build audience, become expert in your field and make money even while you sleep!

Anyone can be a blogger! It doesn’t matter if you are young or old. It does not matter your area of focus. The internet is without border, you can reach any part of the world with your blog. Whatever you write about, you will find an audience for it.

Becoming a blogger is very easy. All you need is open a blog, write about topics you are good and passionate about. It is important to focus on what you are good at. Connect your blog to social media like facebook, twitter and linkedIn, share your contents there and you will get visitors. Keep building visitors and good content.

As you keep blogging, more and more people will get to notice and follow your blog. The bigger the audience you build, the bigger the potentials! So in summary, blogging is about connecting contents with people who needs it. Let your readers trust you. Research your content before publishing. If your readers trust you, they will keep coming and telling their friends about your blog.

Once you have had enough contents and many people reading your blog. You can look for reliable ways to make money from it. One of the most popular ways to make money from blogging is Google adsense.

Google adsense acts like a middle man for bloggers. They get adverts from many companies around the world. Then they show these adverts (ads) on various blogs. And pay each blogger depending on how many views, clicks or engagement the adverts generate on the blog. All you need is to go to google adsense and apply, if your blog is accepted, they will start displaying adverts on it. Then you can start making money even while you sleep.

Here is a famous photo of a blogger who received Adsense Check for $132,994.97 back in 2005!

Google Adsense check

This photo has inspired many bloggers. From then, till now, a lot has changed. People make far more these days. And you can receive your money straight into your bank account.

You can also make money from your blog through affiliate marketing. It is about referring your readers to products or services and if they buy, you get a commission. We will touch that along the way. Keep reading.

Sponsored posts is another way you can make money from your blog. Companies and different entities will want to put a post on your blog to reach your readers. They will mostly write the content, send to you and offer to pay you money to publish it. You can charge from $100 per post to over $1000 per post depending on how relevant your blog is.

Also, you will also get companies, individuals and even government organizations who wants to place direct advert on your blog. From there you negotiate a price with them and if you reach agreement, you make a deal. You can make from $200 to over $10000 from just one direct ads depending on the relevance of your blog and the advertiser.

One more way to make money from your blog is to develop your own product and sale on your blog.  You can write a book or an ebook, or any product that is related to what you write about. Then you sell it on your blog. A lot of bloggers are beginning to embrace this, because it puts them in control. They get 100% of everything!

If you are ready to start a blog, and wondering how to, we have got you covered. It will not take more than 20 minutes to start! Read this article: How to create a blog in less than 20 minutes

Blogging is definitely among the best options for how to make money online for beginners.

2. Freelancing

This one of the most underrated ways to make make money online. If you enjoy writing, or you love graphic design, editing, reading, browsing Facebook, posting on Instagram and so on. You can make money with those skills! There is no way you should be worried about how to make money online because you have the answer already, become a freelancer!

There are people all over the world looking for writers, graphic designers. Looking for people to proof-read their works, people to manage Facebook page. People to post on their Instagram account and so on! So why not put yourself out there and make some money?

The beauty of freelancing online is that you can even be on your bed, as long as you have your computer with you, you are working and making money. And you can be in your room and work for people in different part of the world! Freelancing is an international business.

I was shocked the other day while browsing through upwork and I saw a PhD holder doing freelance work. As at that point, she has earned over $100, 000 writing articles! You will also see people who have no educational background beyond reading and writing but skilled at graphic designs or other aspect making over $10, 000 a month doing freelance work online. There is no barrier as long as you are good at what you do.

A freelancer
You can freelance from the comfort of your home and make money

First thing you should do is pick what you are good at! Doing what you are good is important. Then take every job serious, so you gain good reviews. Negative reviews are bad. When you do a good job, you get good reviews, and with Good reviews, more employers will sort for you and you can charge more per task or per hour. So, if you are skilled in anyway and looking for how to make money online, consider this option!

You can find freelance work from the following webistes: Upwork, fiverrFreelancer and more.

We have some tips for you if you are planning to go into freelancing. Read: How to make money as a freelancer online

If you are looking at how to make money online fast and how to make money online without any investment, then this is for you. All you need is your skill and there are opportunities across the web.

3. Affiliate marketing

When it comes to how to make money online, affiliate marketing is up there. Affiliate marketing has the ability to make you good  money, I mean big money. Affiliate marketing is simply about referring people to products and services, you get paid a commission if someone buys  or sign up through you. As simple as that.

The process is, you look for an affiliate network, sign up with them. Search for products or services that your friend or audience will like, then get a link and share it with your audience. If any of your audience ever click on the link and buys, you get a commission. Depending on what you choose to promote, commission could rise from, $20 to over $10, 000 per sale or sign up.

Affiliate marketing model
This is the model of Ebay partner network and basically how all affiliate network, works..

This is very good for bloggers. Because it gives you the opportunity to make money from your blog. Let’s assume your blog is about finance, you simply look for affiliate that relates to finance, promote it on your blog and posts, as your readers click on it and buy or sign up, you get paid! Make sure you only promote services and products that relates to your niche and will be beneficial for your readers. As a matter of fact, most bloggers use affiliate marketing as their primary method of making money from their blog ahead of Google adsense and the rest. This is very good and productive if your blog is in a good niche. There are niche that affiliate marketing might not necessarily thrive, niche like gossips, news.

If you have a big facebook page, twitter profile or Instagram page. You can sign up with an affiliate network, look for products that your followers will like and share on your page. As they buy or sign up, you get a commission. People do this for a living! Yes, I mean, people combine their love for social media with affiliate marketing to make good money. If you spend so much time on facebook, twitter, Instagram and the rest, why not consider making money from there too with affiliate marketing?

It does not matter what country you are, you can create a blog or social media page targeting a particular country and provide quality content on your chosen niche, then monetize it with affiliate links.

Why not head straight to popular affiliate networks to sign up and make money? They include: Commission junctionLinkshareAmazon Affiliate networkImpact RadiusEbay Partner networkShare a saleKonga AffiliateJumia affiliate and others.

If you need further reading, we have an advice for you: How to make money through affiliate marketing

If you are looking at how to make money online free or how to make money online without paying anything then affiliate marketing is for you. But you have to be ready to work hard though.

4. Digital marketing

This is one area that has not been fully utilized by people to make money online. Digital marketing is simply online marketing. It involves the use of blogs, social media, search engines and every available internet tools to promote a business online. That is it, as easy as that!

If you are so serious about how to make money online then consider giving this a try, especially if you are in an environment where businesses don’t build their presence on the internet. All you need to do is develop a digital marketing plan, approach small businesses and big businesses around you, offer to create awareness for their brand online and bring in more customers for a fee or commission. Depending on what works for you.

Digital marketing
You can make money as a digital marketer online from the comfort of your home

Handling digital marketing for business should be in steps. First if the business has no presence on the internet, build a website for them. Follow same steps you create a blog. If it already has, work on search engine optimization(SEO) to make the website more visible when people search for relevant keyword of the business. Then build social media pages on Facebook, twitter, Linkedin and other relevant social medias. Do some content marketing. Content marketing is writing targeted contents to boost the image of a business. Don’t forget email marketing. Create email marketing account for the business, where they can contact their customers, you get customer’s email automatically to the email list from website as they visit. Invest in optimized ads.

Read more, learn more and grow as a digital marketer.

If you are looking at how to make money online as a marketer then this is for you.

You can read our guide: How to promote your business and find customers online free

5. Buying and selling websites or domain names

Buying and selling websites or domain names is another popular way to make money online. If you have ever tried to register a website, you will realize that nearly all the names are taken. If you check, most of those names are not yet developed into a website, they have been bought and parked by individual for sale. These people are known as domain brokers.

They think of ideas and keywords for websites that companies or wealthy individuals will need someday, they register these domain names. And sell it later for big money to the companies.

It really works because they make lots of money from it! In 2010, Carinsurance.com was sold for $49.7 million! in 2007 VacationRentals.com was sold for $35 million!

While these kind of big money is a one off, if you are good with predicting future trends, you can hit it this big! New inventions are coming, if you can see it before others, register a domain name for it! New industries will spring up, like bitcoin did, if you can forecast it, register a domain name for it. And when they become a hit, you never know how much you can sell it!

You can register domain names at NameCheap.com

Here is a list of the highest selling domains according to wikipedia.

Most expensive domains

You can also buy websites and sell them. This one requires good knowledge of what people want out there. All you need is go to Flippa.com, look for websites with potentials and low bidding or low buy it now. Buy them and resell them on same Flippa for a bigger money. People actually do this as full time job and are making money everyday flipping domains!

If you are looking for how to make money online flipping domains, this one is for you.

6. Video blogging on YouTube

This has to be among the best ways to make money online. If you fancy the camera, love talking, love the idea of being famous, not scared of so many people knowing about you  then you should not worry about how to make money online, get on Youtube!

All you need is to find a niche, an idea and make videos on them. You can decide to focus on make-up, football, movies, gossips, tutorials, politics, pets or anything at all you love! Just build an audience.

You can even upload music and videos that you have right to. Make compilation videos, comedy skits or anything at all that meets YouTube standard and upload! Understand your views. As more people watch your videos you stand a chance to make a fortune! This is a big industry and tens of thousands of people do this as full time job for a living and they are making big money!  Do you see those short videos you watch on YouTube and laugh uncontrollably? The owner of the YouTube channel is probably making thousands of dollars every month from it. You too can do it!

Video blogging
Video blogging on YouTube is a good way to make money online

People love videos! Humans love what they can see. These days, I like to think people watch more youtube than they watch traditional TV! With the Youtube Creator program you can learn, grow and make money.  You can make money from your Youtube Channel via Google adsense. Just integrate Google adsense with your channels and when people watch your videos, they will see ads. You can expect about $2 for every 1000 views. Now imagine having 2 million views on a video which is very easy when you become a guru! Checkout YouTube official guide: Learn how you can make money from Youtube from the official Google Youtube guide 

You can also make  money from your Youtube channel by advertising products that relates to your niche. Selling products yourself or even taking direct adverts!

Last year, Daniel Middleton made about $16.5m from his Youtube channel. This was very surprising because the year before, he was no where to be found on the top 10 earners!

This is definitely for you, if you are looking at how to make money online with videos.

If you want to really learn how to make money on YouTube, I recommend reading How to make money on YouTube (Complete Guide)

7. Become a Facebook partner.

If you do not know, you can actually become a Facebook partner and make good money from Facebook every month! Yes, understanding how to make money online with facebook is as easy as becoming their partner and providing contents. Facebook has a program called Facebook Audience Network Partner Program. 

If you are a video creator, a blogger or app devloper, facebook is willing to partner with you and create a mutually beneficial relationship where you make money from your Videos, articles and more while adding value to facebook.

The potentials of this is huge! Facebook is the biggest social network in the world with over 2 billion users! Imagine a partnership with them.

To apply for Facebook Audience Network Partner Program go here

If you are looking at how to make money online with Facebook, then  go for this

8. Sell online course

If you are very experienced or expert at a particular subject or skill, you can create a course online and sell it. You will make good money! There are so many people on the internet looking to learn new skills.

Whatever you are good at, whatever skills you master, you can teach people about it online and make good money.

A good course that you sell can earn you over $20, 000. That is when it is of top quality and people find it beneficial.

As you develop more courses and sell, you become a brand, and you may even get invited to different countries for training. It all begins with selling a course online!

To sell a course, go to Teachebale.com Udemy.com or Skillshare.com

Make sure you read: How to make money creating and selling online course

To sell a course, go to Teachebale.com Udemy.com or Skillshare.com

Make sure you read: How to make money creating and selling online course

Teachable statistics
Teacheable reports that over $100 million has been earned by instructors on its platform

If you are looking at how to make money online selling courses, this is for you.

9. Drop Shipping

Silently and gradually drop shipping is becoming the biggest way to make good money online. Drop shipping is easy and straight forward. You can make money even while you sleep. If you are really serious about how to make money online and ready to put in some work to establish something big with potential of massive returns, then this is it.

In drop shipping all you have to do is open an online store, go to big manufactures and suppliers such as Ali-express, Ebay and copy their products and items and put on your online shop. Promote your online shop for people to see. Once someone comes to your store and orders for the product, the item is shipped to them from the supplier and you get paid. As easy as that

If you open your online store with shopify, you will have the privileged to automatically copy products from Aliexpress, ebay and others into your store.

If you dont know how to create an online store, you will find this article very helpful: How to create online shop very easily with shopify

It has been reported that up to 30% of products sold online in 2017 was through drop-shipping.

Shopify dropshipping
Platform like shopify gives you the opportunity to excel as a drop shipper

Try this if you are looking for how o make money online daily, but first it will take lots of work to build the foundation to help you stabilize.

10. Completing Surveys

If you are looking for lazy way of how to make money online then this one is for you. All you have to do is answer few questions and earn money, recharge cards or gift items.

Research community use online survey to gather information to better their product. Research is very important for companies so they can know how best to channel and develop their product, that is why they pay people to get their opinion.

The money you will make here will be for past time. It is also possible to make good money as we have read some reviews. Anything is always possible.

The major obstacle is that, most online survey sites is restricted by countries.

For example, if you are in Africa, your best bet will be Ysense and SwitchedOn

PaidViewPoint is another option. They really pay! And you also get to refer friends and earn $25 when they withdraw. They are available worldwide.

Toluna is another popular and dependable online survey website you should try. They have many users and big clients. They are available almost in every country.

SurveySavvy is also a very renowned online survey website that actually pays. It is available world wide

PointsPrizes.com is a good option too. It is available to every country not just USA and top wealthy countries alone. With PointsPrizes, you can join and make money from anywhere in the world. Founded in 2016, they have over 1 million users. Apart from surveys, you can also make money watching videos and doing daily poll. Once you gathered enough points, you can decide to redeem cash or via bitcoin or gift cards.

List of Survey websites that accepts most worldwide participant include: Swagbucks, Global Test market, PrizeRebel.

If you are looking at how to make money online free then this one is surely for you but it may not make you rich, you never know though.

Read more on this: Best online survey websites

11. Online Trading

Warning: Please note that this is a very risky venture. You can lose all your capital. You may put in money and gain immediately and try again and lose it all. There is no guarantee, so proceed with caution.

Online trading is one of the long-standing ways of making money online. It has the capacity to turn out big returns if you are good at it but it is high risk. This is only for people who are not afraid of risk and who are using spare money to trade.

This involves trading online from Forex to Bitcoin and all forms of trading.

When it comes to online market trading, the number one choice is Deriv. One of the reasons it is preferred is because it has a copy trader, which allows you to see and copy the trading pattern of top successful traders. Another reason Etoro.com is preferred is because there are over 4.5 million users worldwide. That is a signal of strength.

This is for you if you are looking at how to make money online trading.

12. Social media

If you are a social media regular and you are wondering how to make money online, the solution is right there in front of you. Beyond posting, commenting and having fun on social media,  do you also know you can make money from Facebook, Instagram, Twitter, WhatsApp and the rest? While it is possible to make money directly on platform like Facebook through the Facebook Audience Network, it is also possible for you to make money from all social media through a carefully planned strategy.

For you to make money from social media. You need to have a strategy. It requires commitment and consistency. People are making good money from social media. There are two things you need, you need to build good follower-ship on social media and you need to be active in groups (pages) that relates to your area of interest.

Social media
You can make money online from social media

You need to pick a niche that you will focus on your social media  and join groups and pages that relates to that niche. It could be fashion, gaming, cars and anything at all. But have a primary topic so people know you for this and brand can approach you directly, you never know.

Next step will involve deciding how you want to proceed to make money from social media accounts. There are many options for you.

  • Short-links: This one of the most dependable ways to make money on social media especially of you have many followers. This method is pretty easy! All you need to do is look for a link or story you want to share on your social media, go to one of the URL shorteners, put this link there and shorten it. Then copy the shorten link and share on social media. As people click on the link you make money. Let me explain, let’s say you see a news story on CNN website you want to share or a good fashion product or a link to breaking news, it could be anything , just go to the url shortener website, shorten the link, copy the shorten one and share. When people click to see the news or whatever you are sharing, you make money. Those news you read from social media, people are probably making money from it! You have to register with the companies that provides these services. Here are the best picks and you can click on them to go register and make money from social media: Ouo, LinkShrinkAdfShortest.
  • Affiliate Marketing: You can post products or services of companies that relates to your niche on your social media profiles and get paid each time someone makes a purchase through your link. If you are looking at how to make money online in a big way, this one has that potential depending on what product or services you promote. Some offer big commissions. You can find those companies easily via Affiliate networks like Cj.com, linkshare.com and more. Remember to read our guide on affiliate marketing.
  • Sell your product: You can choose to sell your own products if you have any. Market them on social media pages. If you do not have products, you can create an online shop, copy products from big suppliers and put in your online shop. Then post these products on your social media, whenever anyone orders, the supplier will ship to the buyer and you get paid. Don’t forget to read our guide how to create online shop easily with shopify.
  • Partner with brands: You can always approach brands for sponsorship or to place direct ads on your social media pages. Websites like Tapinfluence will give you opportunity to partner with brands.
  • Sell your social media accounts: You can decide to sell your social media accounts and make money. People do this a lot. Website like Viral Accounts will help you sell your accounts.

Certainly this one is for you if you are looking at how to make money online with your social media accounts.

13. Sell books/ebook online

If you love writing and you are searching for how to make money online, well, it is time you look at your writing skills again. You can make big money creating and selling ebook online! Ebooks are electronic books which can be read on computer and handheld devices. You can also decide to publish traditional books.

If you are confident of yourself and you have great story to tell, great concept to share or anything to add value, it might be time to create that ebook/book online and make money.

There are many success stories of those who have made it. One of them is a 26-years old who made millions of dollars from a single ebook.  She was living in poverty and struggling to survive until one day she set up a store in Amazon and decided to start writing. And she used her social media profiles and word of mouth to market the book. It turned out good, she was shocked by the outcome. Millions of dollars. You can read her story here.

To sell ebook online, you need to have a good idea, then publish and market them. You can use your social media pages and word of mouth to do the marketing. If you have a few penny to spare, run some Facebook or Google adsense ad.

Here are list of places you can publish your Ebook/books online and make money: Amazon KindleLuluCreateSpace and others.

14. Build websites

You can build websites for business and make money. A lot of business do not have online presence. You can offer to build them website for money. Thanks to technology, you do not need to know about coding to build website. Just to go ThemeForest, buy a theme, upload it on WordPress and customize it. You can even register a lifetime membership of MyThemeShop and have access to many themes you can use to build websites.

15. Teach your native language and any langue you are excellent at

If you are looking at how to make money online and you can speak your native language and any other language fluently, then you can make money online from that. You should also have a passion to teach and impact. Thanks to the internet, there are millions of people out there interested in learning different language. You can teach them and make money! Very easy!

Teaching online
You can teach online and make money

If you are interested, go to italki and register, teach and start earning. There are over 3 million people there waiting to learn.

16. Buy and sell Bitcoin on Quidax

Quidax is a platform that makes it easy for people to make money from Bitcoin and other cryptocurrency. The truth is that Bitcoin and other leading one of the best ways to make money online.

When Bitcoin suddenly became very popular, a lot of people were expecting it to phase out but after many years, Bitcoin is still doing very good. Many countries are now accepting Bitcoin. A lot of merchants and shops are accepting Bitcoin as a form of payment.

This can only mean that an investment in Bitcoin has the potential to make you reach. But the problem might be understanding how to trade and make money from it. That is where platforms like Quidax come in. All you have to do is Sign up with Quidax and you are on your way trading and making money.

You an read more on this: How to start investing in Bitcoin

In Conclusion:

Learning how to make money online is a continuous process even if you are making income already because new ways spring up everyday. You have to be up to date. Whatever direction you choose, make sure that you update yourself on a regular. There are many resources online like this page.

Note: We will keep updating this post always to include new ways to make money online. Bookmark it so you can check back later. You can also sign up for our newsletter to stay up to date or click here to follow us on facebook and Click here to follow us on Twitter

Abel Ekene Internet scientist and blog expert. Loves writing, researching and
helping people reach their dreams. Speaker and authour. Follow me on Twitter @mfonabel

Comments Off on Why Start-ups Fail

Why Start-ups Fail

Posted by | October 30, 2021 | Career Tips / Blog

It’s not always the horse or the jockey. by Tom Eisenmann

From the Magazine (May–June 2021) Kalle Gustafsson/Trunk ArchiveSummary.   If you’re launching a business, the odds are against you: Two-thirds of start-ups never show a positive return. Unnerved by that statistic, a professor of entrepreneurship at Harvard Business School set out to discover why. Based on interviews and surveys with….

Most start-ups don’t succeed: More than two-thirds of them never deliver a positive return to investors. But why do so many end disappointingly? That question hit me with full force several years ago when I realized I couldn’t answer it.

That was unnerving. For the past 24 years, I’ve been a professor at Harvard Business School, where I’ve led the team teaching The Entrepreneurial Manager, a required course for all our MBAs. At HBS I’ve also drawn on my research, my experiences as an angel investor, and my work on start-up boards to help create 14 electives on every aspect of launching a new venture. But could I truly teach students how to build winning start-ups if I wasn’t sure why so many were failing?

I became determined to get to the bottom of the question. I interviewed or surveyed hundreds of founders and investors, read scores of first- and third-person published accounts of entrepreneurial setbacks, and wrote and taught more than 20 case studies about unsuccessful ventures. The result of my research is a book, Why Startups Fail, in which I identify recurring patterns that explain why a large number of start-ups come to nothing.

My findings go against the pat assumptions of many venture capital investors. If you ask them why start-ups fall short, you will most likely hear about “horses” (that is, the opportunities start-ups are targeting) and “jockeys” (the founders). Both are important, but if forced to choose, most VCs would favor an able founder over an attractive opportunity. Consequently, when asked to explain why a promising new venture eventually stumbled, most are inclined to cite the inadequacies of its founders—in particular, their lack of grit, industry acumen, or leadership ability.

Putting the blame on the founders oversimplifies a complex situation. It’s also an example of what psychologists call the fundamental attribution error—the tendency for observers, when explaining outcomes, to emphasize the main actors’ disposition and for the main actors to cite situational factors not under their control—for example, in the case of a failed start-up, a rival’s irrational moves.

Putting scapegoating aside, I identified six patterns of failure, which I describe fully in my book. In this article I’ve chosen to focus on two of them in greater detail, for two reasons: First, they’re the most common avoidable reasons why start-ups go wrong. I’m not interested in clearly doomed ventures with no chance of success or even promising start-ups that were felled by unexpected external forces such as the Covid-19 pandemic. Rather, I’ve focused on ventures that initially showed promise but subsequently crashed to earth because of errors that could have been averted. Second, the two patterns are the most applicable to people launching new ventures within larger companies, government agencies, and nonprofits, which makes them especially relevant to HBR readers. I’ll explain each pattern more fully, illustrate it with a case study, explain when it’s most likely to occur, and suggest ways to steer clear of it. (To learn more about the other common reasons for failure, see the following sidebar.)

Four Other Patterns That Doom Start-ups

False positives. Early-stage entrepreneurs often misinterpret signals about the market demand. Beguiled by an enthusiastic …

Good Idea, Bad Bedfellows

As I’ve noted, VCs look for founders with the right stuff: resilience, passion, experience leading start-up teams, and so forth. But even when such rare talent captains a new venture, there are other parties whose contributions are crucial to it. A broad set of stakeholders, including employees, strategic partners, and investors, all can play a role in a venture’s downfall.

Indeed, a great jockey isn’t even necessary for start-up success. Other members of the senior management team can compensate for a founder’s shortcomings, and seasoned investors and advisers can likewise provide guidance and useful connections. A new venture pursuing an amazing opportunity will typically attract such contributors—even if its founder doesn’t walk on water. But if its idea is merely good, a start-up may not become a talent magnet.

Consider the case of Quincy Apparel. In May 2011 two former students of mine, Alexandra Nelson and Christina Wallace, came to me for feedback on their start-up concept. I admired both of them and was impressed with their idea, which identified an unmet customer need: Young professional women had a hard time finding affordable and stylish work apparel that fit them well. Nelson and Wallace, who were close friends, devised a novel solution: a sizing scheme that allowed customers to specify four separate garment measurements (such as waist-to-hip ratio and bra size)—akin to the approach used for tailoring men’s suits.

Following the lean start-up method, Nelson and Wallace then validated customer demand using a textbook-perfect minimum viable product, or MVP—that is, the simplest possible offering that yields reliable customer feedback. They held six trunk shows at which women could try on sample outfits and place orders. Of the 200 women who attended, 25% made purchases. Buoyed by these results, the cofounders quit their consulting jobs, raised $950,000 in venture capital, recruited a team, and launched Quincy Apparel. They employed a direct-to-consumer business model, selling online rather than through brick-and-mortar stores. At this point I became an early angel investor in the company.

Kalle Gustafsson/Trunk Archive

Initial orders were strong, as were reorders: An impressive 39% of customers who bought items from Quincy’s first seasonal collection made repeat purchases. However, robust demand required heavy investment in inventory. Meanwhile, production problems caused garments to fit poorly on some customers, resulting in higher-than-expected returns. Processing returns and correcting production problems put pressure on margins, rapidly depleting Quincy’s cash reserves. After Quincy tried and failed to raise more capital, the team trimmed the product line, aiming to simplify operations and realize efficiencies. However, the business lacked enough funding to prove out the pivot, and Quincy was forced to shut down less than a year after its launch.

So why did Quincy fail?

Quincy’s founders had a good idea. The venture’s value proposition was appealing to target customers, and the business had a sound formula for earning a profit—at least over the long term, after shaking out the bugs in production. The team had credible projections that customers in priority segments, who’d accounted for more than half of Quincy’s sales, would each have a lifetime value of over $1,000—well in excess of the $100 average cost to acquire a new customer. (Quincy’s out-of-pocket marketing costs were kept low by social-network-fueled word of mouth and enthusiastic media coverage.)

Were Wallace and Nelson simply poor jockeys? Temperamentally, their fit with the founder role was good. They were sharp and resourceful and had complementary strengths. Wallace, who was responsible for marketing and fundraising, had a big vision and the charisma to sell it. Nelson, who led operations, was deliberate and disciplined. However, the founder team wobbled in two important ways. First, unwilling to strain their close friendship, Wallace and Nelson shared decision-making authority equally with respect to strategy, product design, and other key choices. This slowed their responses when action was required. Second, neither founder had experience with clothing design and manufacturing.

A broad set of stakeholders, including employees, strategic partners, and investors, all can play a role in a venture’s downfall.

Apparel production entails many specialized tasks, such as fabric sourcing, pattern making, and quality control. To compensate for their lack of industry know-how, the founders hired a few apparel company veterans, assuming that they’d fill multiple functions—as jack-of-all-trades team members do in most early-stage start-ups. However, accustomed to the high levels of specialization in mature apparel companies, Quincy’s employees weren’t flexible about tackling tasks outside their areas of expertise.

Quincy outsourced manufacturing to third-party factories, which was not unusual in the industry. But the factories were slow to meet production commitments for entrepreneurs who had no industry reputation, required unusual garment sizing, and placed small orders. This meant shipping delays for Quincy.

Investors also played a role in Quincy’s demise. The founders had aimed to raise $1.5 million but managed to secure only $950,000. That was enough to fund operations for two seasonal collections. Before launching, the founders had correctly assumed that at least three seasons would be needed to fine-tune operations. Quincy had some traction after two seasons but not enough to lure new backers, and the venture capital firms that had provided most of its money were too small to commit more funds. Furthermore, the founders were disappointed with the guidance they got from those VCs, who pressured them to grow at full tilt—like the technology start-ups the investors were more familiar with. Doing so forced Quincy to build inventory, burning through cash before it had resolved its production problems.

In summary, Quincy had a good idea but bad bedfellows: Besides the founders, a range of resource providers were culpable in the venture’s collapse, including team members, manufacturing partners, and investors.

Could this outcome have been avoided? Perhaps. The founders’ lack of fashion industry experience was at the root of many problems. It took time for Wallace and Nelson to master the complexities of apparel design and production. Without industry connections, they couldn’t leverage their professional networks to recruit team members or count on past relationships with factory managers to ensure prompt delivery. And without an industry track record, they had difficulty finding investors willing to bet on first-time founders.

An ideal solution would have been to bring in another cofounder with apparel industry experience. Nelson and Wallace tried to do this, without success. They did have some advisers who could offer guidance—but adding more would have helped. In a postmortem analysis, Quincy’s founders also concluded that they could have sidestepped operational problems by outsourcing their entire design and production process to a single factory partner. Likewise, rather than raising funds from venture capital firms, they could have sought financial backing from a clothing factory. A factory with an equity stake in Quincy would have expedited its orders and worked harder to correct production problems. Also, the factory owners would have known how to pace the growth of a new apparel line, in contrast to Quincy’s VCs, who pressured the team for hypergrowth.

Many entrepreneurs who claim to embrace the lean start-up canon actually adopt only part of it, neglecting to research customer needs.

Quincy’s troubles shed some light on the attributes that may make start-ups vulnerable to this particular failure pattern. Entrepreneurs’ lack of industry experience will be especially problematic when large, lumpy resource commitments are required, as they are in apparel manufacturing: Quincy’s founders had to design a multistep product process from scratch, and revising such a process is disruptive once it’s in place. Another factor was ever-shifting fashion trends; the founders had to commit to garment designs and then build inventory for an entire collection many months before it went on sale.

With such challenges, learning by doing can result in expensive mistakes. Compounding the pressure, investors prefer to mete out capital one chunk at a time, waiting to see if the business can stay on the rails. If the start-up stumbles or stalls, follow-on financing may not be forthcoming from existing investors, and potential new investors will be scared off. Pivoting to a better solution isn’t feasible when it requires large amounts of capital along with weeks or months to see if new approaches are working. In that situation entrepreneurs have no room for big errors, but a lack of industry experience makes missteps all the more likely.

False Starts

I have long been an apostle of the lean start-up approach. But as I dug deeper into case studies of failure, I concluded that its practices were falling short of their promise. Many entrepreneurs who claim to embrace the lean start-up canon actually adopt only part of it. Specifically, they launch MVPs and iterate on them after getting feedback. By putting an MVP out there and testing how customers respond, founders are supposed to avoid squandering time and money building and marketing a product that no one wants.

Yet by neglecting to research customer needs before commencing their engineering efforts, entrepreneurs end up wasting valuable time and capital on MVPs that are likely to miss their mark. These are false starts. The entrepreneurs are like sprinters who jump the gun: They’re too eager to get a product out there. The rhetoric of the lean start-up movement—for example, “launch early and often” and “fail fast”—actually encourages this “ready, fire, aim” behavior.

The online dating start-up Triangulate experienced this syndrome in 2010. Its founder, Sunil Nagaraj, had originally intended to build a matching engine—software that Triangulate would license to existing dating sites such as eHarmony and Match. The engine would automatically extract consumers’ profile data—with their permission—from social networks and media sites such as Facebook, Twitter, Spotify, and Netflix. The engine would then use algorithms to pair up users whose tastes and habits suggested that they might be romantically compatible. But VCs wouldn’t back the plan. They told Nagaraj, “Come back after you’ve signed a licensing deal.”

To prove to potential licensees that the matching engine worked, Nagaraj decided to use it to power Triangulate’s own dating site, a Facebook app that would also leverage the rich user data available to Facebook’s platform partners. VCs now showed interest: Nagaraj raised $750,000 and launched a dating site called Wings. The site was free to use and earned revenue from small payments made by users who sent digital gifts or messages. Wings soon became Triangulate’s main event; the licensing plan went on the back burner.

Kalle Gustafsson/Trunk Archive

Wings automatically populated a user’s profile by connecting to Facebook and other online services. It also encouraged users to invite their friends to the site as “wingmen” who could vouch for them—and provide a viral boost to the site’s growth. Less than a year after launching Wings, however, Nagaraj’s team abandoned both the matching engine and the wingman concept. Users found more value in recommended matches that were based on potential partners’ physical attractiveness, proximity, and responsiveness to messages—criteria routinely employed by existing dating sites. The wingman role, meanwhile, was not delivering hoped-for virality and made the site cumbersome to navigate. Furthermore, many users were uncomfortable making their dating life an open book to their friends.

A year after launch, Wings’ user base was growing, but user engagement was much lower than expected. As a result, revenue per user fell far short of Nagaraj’s original projections. Also, with limited virality, the cost of acquiring a new user was much higher than his forecast. With an unsustainable business model, Nagaraj and his team had to pivot once again—this time, with cash balances running low. They launched a new dating site, DateBuzz, that allowed users to vote on elements of other users’ profiles—before seeing their photos. This addressed one of the biggest pain points in online dating: the impact of photos on messaging. On a typical dating site, physically attractive individuals get too many messages, and other users get too few. DateBuzz redistributed attention in ways that boosted user satisfaction. Less-attractive individuals were contacted more often, and attractive users still got plenty of queries.

Entrepreneurs should conduct a competitive analysis, including user testing of existing solutions, to understand the strengths and shortcomings of rival products.

Despite this innovation, DateBuzz—like Wings—had to spend far more than it could afford to acquire each new user. Lacking confidence that a network effect would kick in and reduce customer acquisition costs before cash balances were exhausted, Nagaraj shut down Triangulate and returned $120,000 to investors.

So why did Triangulate fail?

The problem was clearly not with the jockey or his bedfellows. Nagaraj had raised funds from a topflight VC and had recruited a very able team—one that could rapidly process user feedback and in response iterate in a creative and nimble manner. Weak founders rarely attract strong teams and smart money. This was not a case of “right opportunity, wrong resources,” as with Quincy’s failure. Rather, Triangulate’s demise followed the opposite pattern: “wrong opportunity, right resources.”

A clue about the cause of Triangulate’s failure lies in its three big pivots in less than two years. On one hand, pivots are foundational for lean start-ups. With each iteration, Nagaraj’s team had heeded the “fail fast” mantra. The team also followed the principle of launching early and often—putting a real product into the hands of real customers as fast as possible.

But there’s more to the lean start-up approach than those practices. Before entrepreneurs begin to build a product, lean start-up guru Steve Blank insists, they must complete a phase called “customer discovery”—a round of interviews with prospective customers. (See “Why the Lean Start-up Changes Everything,” HBR, May 2013.) Those interviews probe for strong, unmet customer needs—problems worth pursuing. In Nagaraj’s postmortem analysis of Triangulate’s failure, he acknowledged skipping this crucial step. He and his team failed to conduct up-front research to validate the demand for a matching engine or the appeal of the wingman concept. Nor did they conduct MVP tests akin to Quincy’s trunk shows. Instead they rushed to launch Wings as a fully functional product.

By giving short shrift to customer discovery and MVPs, Triangulate’s team fell victim to a false start—and turned the “fail fast” mantra into a self-fulfilling prophecy. If the team members had spoken to customers at the outset or tested a true MVP, they could have designed their first product in ways that conformed more closely to market needs. By failing with their first product, they wasted a feedback cycle, and time is an early-stage entrepreneur’s most precious resource. With the clock ticking, one wasted cycle means one less opportunity to pivot before money runs out.

Why do founders like Nagaraj skip up-front customer research? Entrepreneurs have a bias for action; they’re eager to get started. And engineers love to build things. So entrepreneurs who are engineers—like Nagaraj and his teammates—often jump into creating the first version of their product as fast as they can. Furthermore, at the risk of stereotyping, I’d offer that many engineers are simply too introverted to follow Blank’s advice and get out of the building to learn from prospective customers.

Founders without technical training also fall victim to false starts. They hear repeatedly that having a great product is crucial, so they bring engineers on board as soon as they can. Then, feeling pressure to keep those expensive engineers busy, they rush their product into development.

The good news is that false starts can easily be avoided by following a structured, three-step product design process.

1. Problem definition.

Before commencing engineering work, entrepreneurs should conduct rigorous interviews with potential customers—at which they resist the temptation to pitch their solutions. Feedback on possible solutions will come later; instead the focus should be on defining customers’ problems. Also, it’s important to interview both likely early adopters and “mainstream” prospects who may be inclined to purchase later. Success will hinge on attracting both groups, whose needs may differ. If their needs do vary, entrepreneurs will have to take the differences into account when formulating a product road map.

In addition, entrepreneurs should conduct a competitive analysis, including user testing of existing solutions, to understand the strengths and shortcomings of rival products. Likewise, surveys can help start-up teams measure customer behaviors and attitudes—helpful data when segmenting and sizing the potential market.

2. Solution development.

Once entrepreneurs have identified priority customer segments and gained a deep understanding of their unmet needs, the team’s next step should be brainstorming a range of solutions. The team should prototype several concepts and get feedback on them through one-on-one sessions with potential customers. Most teams start with crude prototypes, reject some and iterate, and then refine the ones that seem promising, gradually producing “higher fidelity” versions that more closely resemble the future product in functionality and look and feel. Prototype iteration and testing continue until a dominant design emerges.

3. Solution validation.

To evaluate demand for the favored solution, the team then runs a series of MVP tests. Unlike the prototype review sessions during step 2—conducted across the table with a single reviewer—an MVP test puts an actual product in the hands of real customers in a real-world setting to see how they respond. To avoid waste, the best MVPs have the lowest fidelity needed to get reliable input—that is, they provide no more “looks like” polish and “works like” functionality than are strictly necessary. Early MVP tests may take things further, assessing demand for a planned product through a Kickstarter campaign or by soliciting letters of intent to purchase from business-to-business customers.

Success with the product design process may require a shift in the founders’ mindset. At a venture’s outset many entrepreneurs have a preconceived notion of the customer problems they’ll address and the solutions. They may fervently believe they’re on the right path. But during the product design process, they should avoid being too emotionally attached to a specific problem-solution pairing. Entrepreneurs should stay open to the possibility that the process will uncover more-pressing problems or better solutions.

Maintaining Balance

Of course, there is no way for founders to know which deadly trap they may face as they launch. Familiarizing oneself with these two dominant failure patterns can help. But so too can understanding why they afflict start-ups so frequently.

Part of the answer is that the behaviors that conventional wisdom holds make a great entrepreneur can paradoxically increase the risk of encountering these failure patterns. It’s important for an entrepreneur to maintain balance. Guidance based on conventional wisdom is good—most of the time—but it shouldn’t be followed blindly. Consider the following advice given to many first-time founders and how it can backfire:

Just do it!

Great entrepreneurs make things happen and move fast to capture opportunity. But a bias for action can tempt an entrepreneur to truncate exploration and leap too soon into building and selling a product, as I’ve explained. When that happens, founders may find themselves locked prematurely into a flawed solution.

Be persistent!

Entrepreneurs encounter setbacks over and over. True entrepreneurs dust themselves off and go back at it; they must be determined and resilient. However, if persistence turns into stubbornness, founders may have difficulty recognizing a false start for what it is. They likewise may be reluctant to pivot when it should be clear that their solution isn’t working. Delaying a pivot eats up scarce capital, shortening a venture’s runway.

Bring passion!

A burning desire to have a world-changing impact can power entrepreneurs through the most daunting challenges. It can also attract employees, investors, and partners who’ll help make their dreams a reality. But in the extreme, passion can translate into overconfidence—and a penchant to skip critical up-front research. Likewise, passion can blind entrepreneurs to the fact that their product isn’t meeting customer needs.

Bootstrap!

Because resources are limited, entrepreneurs must conserve them by being frugal and figuring out clever ways to make do with less. True enough, but if a start-up cannot consistently deliver on its value proposition because its team lacks crucial skills, its founders must decide whether to hire employees with those skills. If those candidates demand high compensation, a scrappy, frugal founder might say, “We’ll just have to do without them”—and risk being stuck with bad bedfellows.

Grow!

Rapid growth attracts investors and talent and gives a team a great morale boost. This may tempt founders to curtail customer research and prematurely launch their product. Also, fast growth can put heavy demands on team members and partners. If a team has bad bedfellows, growth may exacerbate quality problems and depress profit margins.

. . .

It’s fashionable in start-up circles to speak glibly about failure as a badge of honor or a rite of passage—just another phase of an entrepreneur’s journey. Perhaps doing so is a coping mechanism, or perhaps failure’s ubiquity inures those in the business world to its true human and economic costs. I’ve counseled dozens of entrepreneurs as they shut down their ventures. Raw emotions are always on display: anger, guilt, sadness, shame, and resentment. In some cases the founders were in denial; others just seemed depressed. Who could blame them, after having had their dreams dashed and their self-confidence shattered? In my work I try to help people come to terms with failure, but I can tell you that at ground zero, there’s no way to avoid the fact that it hurts. It also can destroy relationships. When they founded Quincy Apparel, Nelson and Wallace vowed not to let conflict over the business threaten their close friendship. But after clashing over how to wind the company down, they weren’t on speaking terms for two years. (Their relationship has since been repaired.)

Failure also takes a toll on the economy and society. A doomed venture ties up resources that could be put to better use. And it acts as a deterrent to would-be entrepreneurs who are more risk-averse, have financial obligations that make it hard to forgo a paycheck or face barriers when raising capital—which is to say, many women and minorities. To be sure, failure will (and should) always be a reality for many entrepreneurs. Doing something new with limited resources is inherently risky. But by recognizing that many failures are avoidable and follow the same trajectory, we can reduce their number and frequency. The payoff will be a more productive, more diverse, and less bruising entrepreneurial economy.

Editor’s note: This article was adapted from the book Why Startups Fail: A New Roadmap for Entrepreneurial Success, by Tom Eisenmann (Currency, 2021).A version of this article appeared in the May–June 2021 issue of Harvard Business Review. Read more on Entrepreneurial management or related topics EntrepreneurshipStart-ups and Business failures

  • Tom Eisenmann
    Comments Off on How To Scale Your Small Business To Eight Figures

    How To Scale Your Small Business To Eight Figures

    Posted by | July 4, 2021 | Career Tips / Blog

    Bittu Kumar is an award-winning serial entrepreneur, co-founder of Enterslice and an expert in scaling small businesses to eight figures.

    Businesswoman looking over architecture blueprints in office
    GETTY

    Small businesses are the backbone of the economy. In the U.S., small businesses generate 44% of economic activity and are responsible for roughly two-thirds of net new jobs in the market. However, amid recession fears — the World Bank predicted the global economy would shrink by 5.2% in 2020 — many businesses are facing an existential threat.

    The question is, is it possible to scale your small business and generate more revenue in these challenging times? The answer is yes. From my experience scaling many businesses to eight and nine figures, there’s never a bad time to start a business and scale your revenue. According to President Biden’s remarks to Congress, roughly 650 American billionaires collectively added more than $1 trillion to their net worth during the pandemic, and it’s time for small businesses to get a piece of the pie. 

    But, most of the small online businesses I work with don’t have a roadmap for how they will reach $10 million in revenue. Sometimes they have a vision and they have goals to get to these numbers, but they don’t have a solid plan and actionable steps to achieve them. They may not have good prospects for their business, proper sales mechanisms or adequate delivery systems.

    Here are my five steps on how you can scale your business, even during a pandemic:

    1. Have a strong funnel in place for your business.

    Many small online businesses have an inconsistent flow of business. The primary reason for this is a lack of a well-defined funnel. That may mean: You’re trying too many marketing channels, or not trying any marketing channels at all; you don’t have a well-defined product or service and that confuses prospects; you have a lack of testimonials; or your funnel talks more about selling your product than solving customer problems.

    Having a well-thought-out funnel that embeds an ethical persuasion system for the entire business cycle can help your business become a cash-producing machine.

    2. Define SOPs and systems.

    Standard operating procedures (SOPs) and systems act like catalysts in any business environment. They aren’t just for Inc. 5000s — they can be used to drive clarity and growth for businesses of any size. Break complex operations into simple tasks and employ software to automate lead outreach, nurture prospects, automate sales and streamline customer delivery.

    Henry Ford designed the first moving assembly line (a kind of SOP) and reduced the time it took to build a car to one hour and 33 minutes. That’s why Ford was able to scale its car production to millions of vehicles and reach over $200 billion in net worth as of 2021. SOPs and systems can do the same for you.

    Remember, you created a business because you didn’t want to have a 9-to-5 job. By putting the right SOPs and systems in place, you can quickly scale your small business and disengage from non-productive tasks within your business.

    3. Use feedback loops to turn things around quickly.

    Many small business owners are slow when making decisions. If you have quality SOPs and systems in place already, you’ll be able to measure and analyze the effectiveness of your choices. Instead of deciding in months, you’ll be able to make decisions in days. 

    Quality feedback loops can help you massively scale your business. You’ll be able to quickly measure things such as the effectiveness of your new ad, the effectiveness of new hires, the efficacy of new campaigns and partnerships and more.

    Once you measure, you can see what’s working for you and what’s not, and then you can make decisions to pivot in your favor. With the limited resources small businesses have and a quickly changing business environment, feedback loops can be a gamechanger.

    4. Delegate your tasks.

    Many small business owners tend to do everything on their own. Is it worth it? No! For example, if your goal is to earn $1 million this year, your hourly rate would roughly equate $450, so ideally, you shouldn’t do anything that isn’t returning that amount of money.

    Outsource tasks that don’t require your attention. Hire the right people who can do it for you for less than $450 per hour. In the long run, it’ll free up your time and give you the flexibility to choose more profitable tasks such as closing sales. You can hire virtual assistants for a low hourly fee.

    The business owner’s goal should be to solve problems and not get involved in them. Note: This is a goal-achieving technique, and you should use it only when you have the first three steps in place. 

    5. Under-promise and over-deliver. 

    “The marketplace is competitive. More and more people are starting online businesses.” How often do you hear these words? It’s true that it isn’t easy to retain customers and get referrals. There’s a way, but many people don’t do it. When customers are dissatisfied with the service they received, it’s often because they were over-promised and the service under-delivered.

    Do the opposite. Try to deliver more than what you have promised and you’ll see magic happen. Not only will this make your existing clients happy, but it’ll also open the floodgates for organic referrals that can be vital to your small business’s success.

    As an expert in scaling businesses, I can reassure you that it’s not as difficult to scale your small business as it may seem. All Fortune 500s were small companies at one point in time, but they worked on creating strong funnels, developing scalable systems, pivoting using feedback loops, hiring qualified employees and surpassing customer expectations.

    Bittu Kumar is an award-winning serial entrepreneur, co-founder of Enterslice and an expert in scaling small businesses to eight figures.

    Comments Off on Performance Appraisal: A Critical factor in Human Resource Management

    Performance Appraisal: A Critical factor in Human Resource Management

    Posted by | June 15, 2021 | Career Tips / Blog

    In real life situations, performance appraisal is a daily activity as it is also to organisations. We evaluate our activities daily, weekly, monthly or yearly to see our achievement and, challenges, correct our mistakes and set new targets.

    More so in organisations. The continued success of organisations is dependent on its employees who in all thinking is the primary resource.  Their development and retention is a critical success factor if it must meet with its present and future requirements and surpass same.

    Performance appraisal sometimes referred to as performance evaluation or personnel evaluation, is very important in Human Resource Management, a tool that places high in people Management. Other factors / functions which contribute to employee development are staff orientation and career development and all these add-up to enhance organizational effectiveness.

    Infact, performance appraisal is a fulcrum on which major HR activities revolve.  Many informed decisions such as promotions, wage hikes, transfers, terminations, job rotation, job enlargement, succession planning etc emanates from this. Again, allocation of organizational resources is facilitated by performance appraisal too.

    What is Performance Appraisal?

    “Performance appraisal is the process by which an organization obtains a feedback about the effectiveness of its employees”. It is the evaluation of employee’s job performance and contributions to the organisation. In other words, it is a mechanism through which employees and the organization obtain feedback and provides organisation with assessment data for present and future use. It is the measurement of performance against set and agreed target over a given period of time so as to obtain to obtain feedback.

    The purpose of Performance Appraisal stems from the need to improve organizational efficiency by ensuring that employees perform to the best of their ability and also develop their potentials for improvement. A good performance appraisal or management system is designed to serve two (2) main purposes:

    1. Evaluative purpose and
    2. Developmental purpose

    Evaluative Functions: This function helps to promote or reward higher performance while at the same time assists to determine low performance.

    Development Function: On the other hand, this performance appraisal function is useful in determining training needs of the subordinates while at the same time motivates them to higher performance.

    Unfortunately, many people lay more emphasis on the evaluative function to the neglect of the developmental function.

    A good organization should have a well laid down policy on employee performance management and the potential of each employee to access his/ her future development.

    Performance appraisal must be seen as a result-oriented machinery for the growth of individual and company and not as firing squad or punitive measure. You should note that organisations decide on what performance appraisal system to be adopted based on its laid down policy, suitability and operational modus.

    Performance appraisal is either open or closed. The open system is profound in the private sector while the closed system is more practiced in the public sector.

    Performance appraisal can be classified under two broad systems: Individual and Multi-Person Appraisal Systems.

    Individual Appraisal Method:

    In the individual appraisal method, employee’s performance is studied over a given period. This is aimed at identifying their strengths and weaknesses. Examples of these are Annual Confidential Reports, Essay Evaluation, Management by Objectives (MBO) and Check List Methods.

    • Confidential Reports:

    Perhaps, this is the oldest method. It is a report prepared by employee’s senior/ supervisor wherein he/ she highlights the subordinate’s strength and weaknesses in the past year. The flaw about this method is that the feedback on the report prepared is not disclosed to the employee for whom this has been written because every report is kept confidential.

    • Critical Incident and Checklist Techniques:

    In the critical incident technique, the superior studies and analyze the subordinate’s best and worse incidents of behavior in the past year; analyzing the most critical incidents while in the checklist method, the supervisor is given a paper that has set of statements that are expressive and purpose in nature, and the answers to which are either YES or NO. Here, the usual and typical questions are whether/ or not the performance was satisfactory and whether or not the standards were met.

    Multiple Persons Appraisal Methods:

    The multi-person appraisal method compares the performances of the employees in a particular department and are pitted against one another to identify the best performers and the worst performers. Examples of multi-person appraisal methods are Ranking System, Paired Comparison, Forced Distribution, Performance Tests and 360-Degree Appraisal.

    • Paired Comparison Method:

    In this technique, the superior compares each individual to all the other individuals working in the team and the subordinates are all ranked on the basis of criteria and traits analyzed. The comparison method could be from the best to the worst or the worst to the best.

    • Management by Objective (MBO)

    The Management by Objective (MBO) is the well-known technique for setting goals, then judging how they are met; it emphasizes on tangible and measurable goals. The Key Result Areas (KRA) and the means to attain maximum results are concentrated upon. This system gives the superior the opportunity of knowing his/ her team’s KRAs and the results expected at the end of the year/ or given period. In this method, the job is delegated and the authority, responsibility and relationship is defined.

    In this method, both the supervisor and the subordinate discuss, negotiate and agree the goals to be attained over a period. The objectives/ target are expected to adhere to the SMARTER rules – Specific, Measurable, Agreed, Realistic, Time-bound, Ethical and Recorded.

    • 360-Degree Method:

    The 360-degree appraisal method involves various stakeholders – the employee’s immediate supervisor, other supervisors who are not the bosses but comes in contact with the employee/ appraisee on a daily basis, the top management, and the employee’s subordinates as all provide data/ information on his/ her performances.

    All 360-degree of employee working and working styles are analyzed involving the whole cycle of individuals with whom the employee comes in contact or interacts with on the course of work. The feedback from the appraisal is passed on to the employee for increased performance.

    Why do we conduct Performance Appraisal?

    Performance appraisal aims at regularly assessing and reporting on subordinate’s performances, attainment, abilities and potentials for future development. It further seeks to:

    • Clarify the Key Result Areas (KRA) of the job and provide basis to agree on targets and standards of performance for a given period;
    • Assess performance of employees and agree on how to foster continuous improvement;
    • Provide opportunity for a formal recognition and documentation of performances (the subordinate has opportunity to bring certain achievements or constraints being experienced on the job to the attention of the boss, his/ her career plans and aspirations);
    • Generate information for management’s decision-making on issues like promotion, transfers, succession planning, job rotation, job redefinition, disengagement etc;
    • Determine employee potentials and provide guided development;
    • Provide opportunity for identifying individual training and developmental needs;
    • Take stock of skills and talents available, strength and weaknesses of employees in the organization
    • Provide feedback to employees on how organization view their (employee) performances;
    • Improve communication by compelling superiors and subordinates to hold periodic dialogue/ meeting and provide feedback;
    • Provide basis for reward decisions – merit increases, reassignment and expatriation
    • Generate data/ information upon which workplans, budgeting and HR Planning can be based
    • Inform job distribution/ redesign, job enlargement, career planning and development;
    • To provide a ready tool for evaluating the effectiveness of selection and placement decisions;
    • Identify training and development needs for individual employees and entire teams/ divisions within the organization;
    • Provide a good criteria for assessing the success or otherwise of previous training and development efforts
    • Help in determining salary related decisions;
    • Serve as a counseling forum;
    • Emphasize the strength and weaknesses of employees;
    • Improve motivation

    Conclusion:

    Without mincing words, it must be stated that performance appraisal is key to the success of organisations as managers constantly make judgments about their subordinates based on performance appraisal and are expected to provide periodic feedbacks.

    To make feedback a powerful instrument in performance appraisal and in improving the level of satisfaction, performance appraisal must not only be based on an objective criteria, but such criteria should have been jointly put in place and agreed between the supervisor and subordinate as employees who are involved in actually setting their own goals tend to perform at higher levels.

    Contributed by Agolo Uzorka, CEO/ Lead Consultant, Eugene + George Consulting Limited

    Agolo Uzorka
    Agolo Uzorka
    Comments Off on Lagos Commits To Growth Of MSMEs, Sets up SMEs Hub, E-Commerce Platforms

    Lagos Commits To Growth Of MSMEs, Sets up SMEs Hub, E-Commerce Platforms

    Posted by | May 18, 2021 | Career Tips / Blog

    Commissioner for Commerce, Industry and Cooperatives, Mrs. Lola Akande

    … engages the organised private sector… to boost employment through PPP

    In recognition of the important role of Micro, Small and Medium Enterprises (MSMEs), especially as a springboard for economic recovery, the Lagos State Government has reiterated its commitment to the growth and development of the MSMEs to ensure their survival beyond the global pandemic period.

    The Commissioner for Commerce, Industry and Cooperatives, Mrs. Lola Akande, made the remarks during the ongoing Y2021 Ministerial Press Briefing organised as part of the activities to mark the second anniversary of Governor Babajide Sanwo-Olu led administration.

    Mrs. Akande gave assurance that the Government will continue to provide strong platforms such as the organisation of MSMEs Exclusive Fair to support Entrepreneurs to get the required linkage that will facilitate business development as well as trade promotion in line with the fourth pillar of the T.H.E.M.E.S Agenda, which is Making Lagos a 21st Century Economy.

    In her words, “The annual Lagos MSME Exclusive Fair is undeniable evidence of the State Government’s unshaken dedication to the continuous growth of the MSME sector in the State”.

    The Commissioner listed some of the initiatives aimed at enhancing the growth of MSMEs to include the Eko MSMEs Fashion Hub 1 established in collaboration with the Federal Government to boost the fashion and apparel industry; the e-Commerce digital platform created to showcase MSMEs products and services to the world and the establishment of Lagos State Export Promotion Committee to promote the marketability of locally made products.

    Others include the Lagos Council on MSMEs, a broad-based platform comprising State and Federal Government agencies for the harmonisation of State-wide dispensation of national and local MSME promotion, policies, measures and programmes and the National Awareness and Sensitisation Tour held to promote the Africa Continental Free Trade Area Agreement (ACFTAA); the commemoration of the African Industrialisation Day/Young African Industrialists Week during which business clinics were held to deepen the knowledge of MSMEs.

    According to her, the present administration will soon complete the construction of 44 Factory Units-Imota Light Industry Park, which is about 86% completed, in a bid to continue to sustain the Small Scale Industrial Estates at Mushin and Isolo as well as the industrial shed at Sabo in Ikorodu, while plans are ongoing to develop a new Small Scale Industrial Estate at Gberigbe, Ikorodu.

    Speaking further, the Commissioner maintained that the government remains committed to providing a conducive environment for the Organised Private Sector and other stakeholders through continuous engagement in the implementation of policies, regulations and projects as they impact the business prosperity of the State.

    Akande mentioned that the various projects being executed with the private sector at the Lekki Free Trade Zone are already yielding great dividends, just as she noted that despite the pandemic over 230 jobs were created through the Alaro City project, a joint venture project designed and owned by Rendeavour Nigeria Development Company Limited and the Lagos State Government, through Lekki Worldwide Investments Limited in the ratio 60% and 40 % respectively.

    She also averred that the Sanwo-Olu-led administration will continue to protect and promote the rights of consumers of goods and services through consumer education, scientific investigation, mediation, monitoring and enforcement of the Law against producers of adulterated and fake products.

    Source: Todayng

    Comments Off on Lagos Govt Places 4,000 Unemployed Graduates On N40,000 Monthly Salary

    Lagos Govt Places 4,000 Unemployed Graduates On N40,000 Monthly Salary

    Posted by | May 9, 2021 | Career Tips / Blog

    Sanwo-Olu Moves To Scrap Pension For Ex-Lagos Governors, Deputies
    Governor Babajide Sanwo-Olu

    The Lagos State Government has announced that it has placed 4,000 unemployed graduates on N40,000 monthly salary for a period of 6 months.

    The initiative which is implemented through the Ministry of Wealth Creation and Employment’s Graduate Internship Placement Programme (GIPP) is intended to address the challenge of unemployment among unemployed graduates in Lagos State.

    This disclosure was made by the Lagos State Commissioner for Wealth Creation and Employment, Mrs Yetunde Arobieke, during the 2021 Ministerial Press Briefing in commemoration of the Second Year in the Office of Governor Bababjide Sanwo-Olu.

    Arobieke said the programme, which was planned to last for six months, was meant to expose interns to a particular job, profession or industry and enhance networking.

    She pointed out that through this initiative, interns will be given the opportunity to excel and possibly learn a job with the organisation; as they are exposed to professional skills and interpersonal relationships in a structured setting.

    Source: Information Nigeria

    Comments Off on Onboarding The Human Resource: Challenges and Prospects

    Onboarding The Human Resource: Challenges and Prospects

    Posted by | May 7, 2021 | Career Tips / Blog

    Introduction:

    In the past, hires were expected to spend their life-time working in their new organizations. Because of this, new employees’ induction and orientation took the form of brief introduction to the company, meet-and-greet and sometimes speeches from top executives of the company like the Managing Director and followed by heap of documents and forms to be filled by the new hire.

    New Recruits Induction

    Nowadays, job candidates are looking for job opportunities that would give them ample time to attend to other things, socialize etc not just a job and they now prefer freelancing, work-from-home, short-term contracts as they job-trot before landing a good one.

    Induction:

    This is a one-day welcome event for a new employee as a team player, where the job and the organization are introduced to the new hire and vis versa. The process provides information on the rights of the employee, the rights of the employer, terms and conditions of employment. The new hire is also exposed to the culture of the organization and might take the form of slide-show presentation, a meet-and-greet, provision of company’s catalogues, HR handbook to new recruits or tour with relevant co-workers etc. It is meant to provide basic information and ease the new hire’s first-day-at-work jitters.

    Orientation:

    Orientation is a process of familiarizing new hires with company policies and guidelines; a short-term activity, most times completed in the first week of new hire’s resumption. It is about compliance and getting new hires up to speed with the Company’s processes and procedures, paperwork, and general administrative structures. This might include introduction to the company’s products and services, information on partners, accounting processes, and guidelines etc. This is also a part of the “Knowledge Management” process.

    Induction and orientation are twin important aspects of any new hire’s career journey in a company but it must be noted that they are both short-term experiences and represents only the first few steps of that journey. This is why onboarding is necessary.

    What is Onboarding?

    It is estimated that 50% of managerial roles fail within the first 18 months while for the majority of employees, 50% leave their new job within the first four months. To effectively nip this in the bud, an effective onboarding should be implemented.

    Onboarding is a process of making the new hire get adjusted to the social and performance aspects of the job roles quickly and seamlessly; it is a full new-hire journey as it begins with the signing of contract, continues through the new hires first day at work (induction and orientation), fourth week etc and does not end until the new hire is fully settled in his/ her new job roles. This is irrespective of the length of time it takes – 6months or one year – and terminates when he/ she is fully integrated into his/ her new job roles.

    They are both new recruit processes and to a greater extent dictates the success or failure of the new hires within the organization.

    During the onboarding period, new hires learn about the organization, undergo training, mentoring, and performance reviews are carried out as they are exposed to the culture of the organization, acquire the knowledge, skills and attitudes (KSA) required to perform optimally in their new job roles

    Before an organization engages in onboarding, there has to be a deliberate and formal onboarding program. The Company should be able to answer some salient questions so as to come up with an all-inclusive plan.

    • When will it commence?
    • What is the time-line for the onboarding program?
    • What do they (new hires) need to know about the Company’s structure, culture and work environment?
    • What do we (the company) intend to impart to the new hires?
    • What will be the roles of HR, Line Managers & peers?
    • What do we intend to achieve at the end of the onboarding program?
    • What are the possible challenges and how do we address them?
    • How do we obtain feedbacks from the program?
    • How will you measure it’s success?

    With the above questions well answered, the HR and top Management would marshal out plans for its implementation to assist new hires easily understand the company’s policies, culture and workflow and get blended with the workings of the organization.

    Onboarding as a process recognizes that 20% of new hires leave for new job opportunities within the first 45 days on the job.

    Challenges of Onboarding

    Onboarding can be awkward sometimes as new hires face the challenges of the “unknown“. They ask themselves thought-provoking questions: can I please this “iron lady who is my boss?”. Will they confirm my appointment at the end of probation period? Is this the last bus stop or I should start looking for another job? etc. These questions and answers provoke decisions to be taken in the coming days.

    Here are some of the challenges of onboarding:

    • Probationary Period:

    During the onboarding period, new hires are in the habit of asking themselves: will I be confirmed? Will I be able to impress on the job or will I be successful on the job? Will my Supervisor recognize my inputs?

    The employer on its part will also be asking if the new hire would be able to get along with their team, manager and other employees within the Company? Companies are worried about employees’ social connections because they matter so much to her as they look up to cordial relationships amongst her employees.

    • Is there Career Prospect?

    This is one other great challenge of onboarding. The new recruits are worried and they want to know their fates; they want to know what is in there for them; they ask themselves if the company was a place for them to stay and if there was career prospects? They ask themselves if it was a place to stay and if the answer is yes, they tend to stay but the next question would be, for how long?

    Truly speaking, a conducive workplace will have a highly reduced labour turnover and engendered-growth. Employees may be inclined to stay longer here because of certain factors: they want to gain knowledge in a different work environment, or industry, specialize in a specific area etc, as they enjoy their job roles.

    Irrespective of the above factors, employees want to work in a company where there is career prospects and growth, where they can build their career and be happy too.

    • Culture

    This is another challenge as the new hire is worried about the new culture he or she is to be confronted with. He tries to fashion out a way to manage this. The organization is not less perturbed either.

    • Adapting to Continuous Change

    This is one factor that has affected onboarding as a lot of organizations do not review their onboarding policies. There is need to regularly update the onboarding process of the company so as to remain current with global trends and ensure that the workforce is aligned with the latest news and current processes.

    It is very pertinent that organisations continuously adapt to changes in onboarding.

    • Measuring the Results

    Another challenge in onboarding is measuring the result of onboarding. Some design or send out forms as a feedback strategy in the form of survey after onboarding training. I would recommend looking at your retention rates or employees who turn out to be high-performers within their first year within the organisation.

    Yes, it is important to collect feedback from new recruits at the onboarding stages but you should know that new hires may not be comfortable providing sincere feedbacks in two weeks into their onboarding but may be more comfortable a month into it and the confidence continues to grow in the coming months.

    Advantages and Prospects of Onboarding:

    Proper onboarding in an organization,

    • Eases integration of new recruits
    • Builds relationships,
    • Ensures expectations on both sides are met
    • Develops employee’s knowledge of the culture
    • Strengthens employees’ commitment as roles are clarified and defined
    • Engenders self-efficacy
    • Teaches basic new hires basic Company policies
    • Provides the formal and informal norms of the company etc

    Some organisations carry out induction and orientation for new employees while thinking and believing (erroneously) that they are engaged in onboarding. Such companies miss the advantages acruable in onboarding as it is confirmed that “organizations with a strong onboarding process improves new hire retention by 82% and productivity by over 70%”.

    Onboarding, without mincing words has so many prospectd and organisations would grow tremendously if it is religiously implemented.

    Contributed by Agolo Uzorka, CEO/ Lead Consultant at Eugene + George Consulting Limited

    Agolo Uzorka
    Comments Off on 45 Questions To Ask In A Job Interview

    45 Questions To Ask In A Job Interview

    Posted by | March 11, 2021 | Career Tips / Blog

    Male designers meeting and brainstorming in conference room
    Job Interview

    It was the middle of July 2008, and I had just bought an expensive power suit for a job interview. After being laid off during the height of the recession and unemployed for about six weeks, I was feeling desperate and willing to spend money on anything that might put my career on track.

    Surprisingly, the train was running on time that day, which gave me the opportunity to take my new jacket off, sit back, and prepare for this meeting one last time. At my stop, I realized I was so intently focused that I didn’t notice a robbery happening right under my nose. The jacket was gone.

    With nothing but an inappropriate tank top on, I was mortified but decided to go for it anyway. I proceeded to meet all of the organization’s department heads, during which time my thoughts repeatedly returned to my improper attire. But believe it or not, I ended up getting the job.

    Even though my story had a happy ending, there’s no doubt the pressures of the interview process had me unnerved. Anything can happen before or during an interview, which is why it’s crucial to walk in feeling prepared — even if your jacket has just been stolen.

    Interviewers will be focused on finding out if you’re the right fit for the position, but it’s also important to decide if the company is the right fit for you. Have a list of questions to ask in a  job interview.

    Your role

    Be careful not to ask questions already answered in the job description. It’s important to go beyond those general duties to understand everything the job entails.

    1. Can you offer specific details about the position’s day-to-day responsibilities?

    2. What would my first week at work look like?

    3. How does this position contribute to the organization’s success?

    4. What do you hope I will accomplish in this position?

    5. How does the company culture affect this role?

    6. What job shadowing opportunities are available for an applicant before they accept an offer?

    Proceed with caution: If rather than going into detail about the primary responsibilities listed in the job description, the employer rambles off many more duties — they may be asking you to take on more than you initially thought. How to Read a Job Description

    Getting to know the interviewer

    Most likely, the interviewer is the first contact you’ll have at this company — they could even be your future boss. Asking questions can help you understand their attitude, company values, and where the company’s future is heading.

    7. What do you enjoy most about working here?

    8. Why are you working in this industry?

    9. Can you walk me through your typical work day?

    10. What is your greatest accomplishment with the company?

    11. What is your team’s greatest accomplishment?

    12. What goals do you have for the company, yourself, and employees over the next five years?

    13. What hobbies do you have outside of the office?

    Proceed with caution: Be wary of leaders who have trouble opening up or don’t seem passionate about their company and team. How to Find the Perfect Company

    Management’s style

    What type of management style do you need to reach the height of your potential? Now’s the best time to see if the company’s leaders align with your expectations.

    14. How do leaders encourage employees to ask questions?

    15. How do leaders set employees up for success?

    16. How does employee feedback get incorporated into day-to-day operations?

    17. How does management deliver negative feedback to employees?

    Proceed with caution: Employers who can’t list how they encourage employees and set them up for success may not deliver the support you’re looking for in a company.

    Company culture

    From benefits and perks to the ways employees interact with each other, not meshing with a company’s culture can put a roadblock on your path to success.

    18. What is your work culture like?

    19. How would you describe the work environment here?

    20. What benefits are focused on work-life balance?

    21. What benefits and perks does the company offer?

    22. What is the outline of your telecommuting policy?

    23. How frequently do employees make themselves available outside of normal working hours?

    Proceed with caution: Listen closely to how the interviewer describes the company’s benefits and environment to be sure it’s the right culture for your personality and working style. What Aspects of Company Culture Matter Most for Your Next Job

    Company reputation

    After doing some research, you should already know a few things about the company’s reputation. Now it’s time to dig a little deeper to make sure this is a place where you’ll thrive.

    24. What’s your mission statement?

    25. How often is a new hire the result of a previous employee quitting?

    26. Why do most employees leave the company?

    27. How would employees describe the company and its leaders?

    28. What are the company’s biggest problems? How are they overcoming them?

    29. What do you want the company to be known for among employees — past, present, and future?

    Proceed with caution: Quality leaders will be the first to admit that their company isn’t perfect. Interviewers who claim they would change nothing might be failing to grow and make positive changes.

    Performance measurements

    Knowing a company’s expectations and how they measure goals before accepting a job offer helps you decide if their style matches with what motivates you.

    30. How are employees recognized for their hard work?

    31. How involved are employees in the structuring of their own goals and tasks?

    32. What are your views on goals, timelines, and measuring success?

    33. How often are employees expected to provide status updates on a project?

    34. How often do you evaluate employee performance?

    Proceed with caution: Wanting constant updates and control over employee tasks are warning signs of a micromanager.

    Future co-workers

    The employees at this organization could be your next team. Make sure you’re positive this is a group you want to be a part of.

    35. Can you tell me about the team I’ll be working with?

    36. How competitive are your employees?

    37. How do you develop teamwork skills among employees?

    Proceed with caution: A competitive environment can be fun and motivating, but a lack of teamwork in the office could point to a cutthroat company.

    Opportunities for growth

    What is your ultimate career goal? Set yourself up for success by finding out how far this new position could take you on your career path.

    38. What type of mentor system do you have in place?

    39. What type of educational/training opportunities does the company offer?  

    40. What advancement opportunities are available?

    41. How do leaders promote employee growth and success?

    42. What does it take to be a top performer at this company?

    Proceed with caution: If an interviewer is unable to share how you can advance within the company, chances are you might not be able to grow at the rate you want.

    Moving forward

    Don’t leave the interview with any questions unanswered — for you or the interviewer. This is your final opportunity to make sure you’re both on the same page before you walk out the door.

    43. What’s the next step of this process, and when can I expect to hear from you?

    44. Is there any other information I can provide you with?

    45. Would you like to see more examples of my work?

    Proceed with caution: Interviewers who don’t have a lot to offer on next steps may already have another candidate in mind or might not be in a big rush to hire. Remember to stay positive and continue to job search until you’re officially hired.

    Courtesy: Glassdoor

    Comments Off on Managing Resistance to Change in the Workplace

    Managing Resistance to Change in the Workplace

    Posted by | February 25, 2021 | Career Tips / Blog

    Employees Brainstorming on Resistance to Change

    Change is the adoption of new idea or behavior by an organization (Daft, 1995). Change in an existing organization is meant to increase its effectiveness in achieving its corporate objectives; it is the bedrock of industrial and organizational effectiveness. Change means to alter, replace, substitute, exchange etc. Whatever form it takes, differences could be spotted between the former and present when it occurs. It is ‘an activity of transformation or modification of something … with the objective to make improvements”.

    Change is unavoidable in our socio-economic, political and technological lives, Davies (1983) defines “Work Change” as any alteration that occurs in the work environment. Work change can occur in men, machines, policies, methods, and even location. Change could be from  Internal or External source.

    Internal Sources: This change could occur in structure, training, interpersonal and intrapersonal change (e.g. self growth and self development), leadership change etc.

    External Sources: These are changes occasioned by outside forces like government policies, pandemic, consumer behavior, inflation, increase or decrease in people’s purchasing powers, religious upsurge, technology, war, natural disaster etc. It should be noted that most times the external pressures  are so powerful to the extent that they have great powers to ignite internal organizational changes. Changes could be destructive or constructive.  

    Effects of Resistance to Change

    Reasons for Resistance to Change: As important as change is in organizations, some employees still resist it and hate it without pretence. I remember on occassions I was brought in to inject fresh ideas to revive a failing organisation and the fierce resistance received. Infact, managing resistance to change in the workplace could be herculean

    The resistance could be as result of:

    • Parochial self interest.
    • Lack of confidence in the changer.
    • Bad communication strategy,
    • Fear for Loss of job, 
    • Disruption of social life, 
    • Poor timing,
    • Fear of unknown,
    • Cost of Change,
    • Level of Preparedness for Change,
    • Disruption of Known Relationships,
    • Lack of Trust,
    • Lack of Reward
    • Loss of Support System
    • Loss of Control
    • Lack of Competence
    • Experience from former change
    • Lack of Human face in the aspect of change
    • Poor Planning
    • No clarity
    • Out of comfort Zone
    • Denial
    • Resistance as Normal
    • Loss of identity

    Quide on Managing Resistance to Change

    • Proper Education/ Explanations to employees
    • Change agent(s) must be honest/ trustable persons
    • Change implementation should be sincere/ gradual
    • Right Timing
    • Effective communication necessary
    • Employees should be prepared psychologically
    • Change agents must be selfless and competent persons
    • Good knowledge of change objectives
    • Good reward system
    • Openness, Clarity and objectivity should be the watchword
    • All grey areas should be addressed

    These quides will assist in change management in your organizations and if effectively managed, will be a source of strength to the organisation and improve the bottomline.

    Written by: Agolo Uzorka, CEO/ Lead Consultant, Eugene + George Consulting Limited

    Managing Resistance to Change in the Workplace
    Agolo Uzorka
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