In Hyderabad, gone are the days when youngsters wanted to pursue a career in the field of engineering or medical. It’s the startup era now and the city is no less affected by it.
While this change is a welcome one, there also is a flip side to it.
The most common issue hounding the young entrepreneurs in the city today is the rate at which the startups are failing. According to one data, 8 out of 10 Startups have failed in the first year itself in the previous two years.
A major problem with startups here is that a lot of them do not take time to settle in.They jump into the rat race to raise money and get to the market. And once the investors come into picture, the pressure of expansion increases and if the venture fails to grow, the company loses out in the next round of funding, eventually shutting the business.
Another reason, according to some gurus is the lack of proper mentorship. A new venture needs different mentors at different stages and it is very important to pick the right mentors. That’s the reason why only one in 20 startups see success. Some Startup owners feel that timing of launch holds the key to a startup’s success.
“Hitting the market at the right time is the mantra. Once you miss that, you miss the market’s attention. Another important factor is the saturation level.” said Gaurav Bhimani, Startup consultant, to TOS.
“While one sector reaches its saturation point, the others remain untouched. Everyone wants to be part of low-risk areas like food or retail, and sectors like aerospace or defence remain unexplored,” he added.
Meanwhile, Gaurav also feels that lack of expertise in technology also aides the failure rate. “Unlike in the west, most of the founders in startup industry here are students or entrepreneurs who don’t have adequate technical knowledge. Mere ideas cannot run a company, there need to be some technical expertise,” he says.
According to him the Mantra is “Fail fast.” “Fail fast, because if you fail in initial stages, the loss incurred would be less and there is always a chance to start up again.”
Top Five Ways to Manage Employee Performance
Your employees are a critical part of your company’s success. It is important to be able to understand how they are performing so that you can come up with strategies to help them become more engaged and productive. When employees underperform, there are always reasons, and understanding those reasons helps you improve the employee experience. There are many ways to manage employee performance, including better communication, using employee performance management software, or finding ways to empower employees at work. Take a look at the top five ways to manage employee performance.
1. Communicate Your Expectations Clearly
One of the best ways to make sure that your employees know what is expected is to communicate clearly. They should know what the tasks are that they are required to do, and they should be able to explain their job responsibilities in their own words. It is also important to provide continuous feedback and opportunities for employees to voice their questions or concerns. When you check in with employees regularly, they feel valued and know that there is an opportunity for growth. They have a better understanding of the company’s goals, and they understand what is expected of them.
2. Offer Employee Development Opportunities
In interviews, it is common for companies to ask employees where they see themselves in five years. However, once they are hired, this topic doesn’t come up again. Employees want to feel as though they are growing and progressing over time, and if you want to raise your retention rate, you need to provide them with opportunities for growth and development. You can offer training sessions to help them develop new skills, and you can check in with them to make sure that they are reaching their personal goals. Consider how you can provide opportunities for employees to grow.
3. Use Employee Performance Management Software
Another option is to use employee performance management software to simplify employee reviews, plan for succession, and manage compensation. When you use this software, you take a data-driven approach to performance management. This tool uses different data points to track how effective each employee is in the company. Different platforms will have different functions that work to help you measure your employees’ progress, but it is all collected digitally and allows you to see a complete picture of employee performance.
4. Know What to Measure
Different industries and different departments within the same company will have slight variations in how they measure employee performance, but there are a few general guidelines. First, measure speed and efficiency. In other words, look at how much each employee is able to accomplish in specific periods of time. Then, look at the quality and depth of the work produced. Determine whether the employee simply does the job or whether the employee adds to the job. You can also look at trust and consistency, which determine how much you can rely on the employee to make good decisions and complete tasks on time. When you know what to measure, it is easier to determine which employees need more help.
5. Create a Positive Work Environment When people are happy with their work environment, they perform better. This has been studied and proven true many times, and it makes sense. When people are around other people who are positive and motivating, they perform better. They feel good about their work, and they produce more. You should make sure that the workplace is neat and tidy and reduce clutter. Encourage employees to keep their desks clean and free of clutter as well, which makes it easier for them to be productive. Make sure that you boost morale through positive communication, and everyone should feel valued. This will bring out the best in your employees.
Ways to Accessorize Your Outfit to Complete a Stylish Winter Look
Finding a fashionable ensemble that suits the winter season can feel like a challenge. With the cold weather creeping in and guiding what we are able to wear, is it possible to maintain a high-brow appearance when layers are the theme of the day? Thankfully, the answer is yes. Because despite the essential layering, accessories are the best way to keep any outfit classy this winter.
A Designer Bag
What high-brow outfit is complete without the perfect handbag Gucci handbag? It’s hard to argue with quality, and with the advantage of so many beautiful designs and different sized bags from Gucci, you really are spoiled for choice. If you need something practical for a long day out, try a larger sized handbag that accommodates all your essentials such as a cosmetic bag, purse, portable charger, and phone. For nights out, a smaller, yet simple eye-catching shoulder variety will make any outfit stand out.
A Statement Jewelry Piece
When it comes to statement jewelry, for a high-class look it is always preferential to go bold and stay classy. Complicated designs are not the way forward, but it is important to stay with your color theme. Make things match, and keep it in line with your overarching outfit theme. A statement piece like a chunky bracelet with high-quality gold or silver will rule the day over a more complex arrangement like multiple bangles up your arm. Keep it simple, but make it a vision.
What you wear on your feet is as important as what you wear on your body. Your shoes make or break the whole outfit, so you have to choose the best fit. For winter, boots are the clear winner and there are so many styles to pick from for keeping your feet warm but fashionable. Try out a shorter coat with some thigh high suede, or a long coat paired with leather ankle boots to mix things up and stay looking chic.
The Right Coat
Your coat will conceal what you’re wearing underneath, so it has to match up in quality and appearance. You could be guided by brand in this department, but it is also advantageous to be led by function. The quality of the product will be the standout feature so whether you need it to be waterproof, warm, attention grabbing or all of the above, make your selection wisely and put the research in before deciding on the perfect purchase.
Scarves, Gloves, Hat
Finish your look off with a cashmere scarf or a beautiful winter warmer hat. Gloves are a practical purchase, but there are plenty of ways to keep them classy and high-class too such as choosing leather material or splashing a bit more money on the right pair.
There are lots of ways to accessorize a winter outfit that make it look classy and keep your designer roots as the key focus. Whatever you pick, it has to keep you warm and speak true to your sense of style.
Online Marketplaces for Small Businesses to Sell Things Online
If you’re ready to start your online small business but aren’t sure where to start, an online marketplace may be a great place to start. Online marketplaces make it easy for small business owners to get their products in the eyes of potential customers.
Here are some websites for selling products online that you can look into and start your small business journey.
Poshmark is a website best for sellers who sell vintage and secondhand products. However, you can also post new items on the platform as well, like clothing, homegoods, accessories and electronics.
Poshmark charges a flat fee of $2.95 for all sales under $15 and they take 20% of the earnings for all sales over $15.
If you’re looking to get your products seen an a global scale, a big marketplace like Amazon is the perfect place to host your items. You can find pretty much any product on Amazon, so the possibilities are endless when it comes to what you can sell. However, since there are so many sellers on the platform, you’ll want to make sure you market your items appropriately to stay ahead of the competition.
When selling on Amazon, you can pich between their two plans:
- Individual plan: $0.99 for each item sold, plus selling fees
- Professional plan: $39.99 per month, plus selling fees
3. Facebook Marketplace
Facebook Marketplace is an online marketplace where you can sell new or used items. You can sign up and sell on this platform, making it a good place for small businesses to start out.
Facebook Marketplaces charges a flat fee of $0.40 for sales $8 and below, and takes 10% for sales of $9 or more.
4. Big Cartel
Big Cartel is different from other online marketplaces because they let you create and customize your own storefront—similar to having your own website. You can sell any kind of goods on the platform and they even have design templates that you can use when creating your storefront.
Big Cartel has tiered monthly plans ranging from a free basic plan to a $19.99 plan.
Etsy is the perfect place for those who make handmade and personalized goods—like jewelery, art, and other crafts. Etsy acts like a search engine, so properly optimizing your storefront with keywords can help get your products in front of potential customers.
Etsy charges $0.20 per item and takes an additional 6.5% of each transaction amount.
For more online marketplaces and what you can sell on each, check out the infographic created by Solo below.
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