This is a lifelong process, but you can make a great start by fostering empathy.
Empathy is the practice of perceiving and relating to the emotions and perspectives of others. To get better at empathy, understand and practice these 3 tricks:
1. Listen with an open mind and open heart. All you have to do is listen fully. Set aside any temptation to problem solve, analyze, or judge at this point. Listen. Watch their facial expressions and body language.
You can also give the other person signals that you’re listening:
- Stop whatever else you’re doing. This is not the time to multi-task. If you’d like to make notes because it will help you remember their important points, then ask if it’s OK first.
- Turn to them and face them.
- Lean forward a little to indicate interest.
- Maintain eye contact without staring.
Finally, an important point: don’t interrupt.
It’s becoming more and more common in our culture to interrupt while another is speaking. That doesn’t make it OK. To develop your empathy skills, practice waiting until the
Any business that works with a volume of customers over a period of time will have a complaint filed against them. Large businesses like McDonald’s Hamburgers or Amazon have complaints files about something somewhere almost every day. Business that have never had a complaint filed against them probably has not been around very long or does not work with a large sector of the general public.
This is not to say that complaints are not justified. There is more to reviewing complaints than reading how bad the service was from one customers’ point of view. Yes that customer probably had some less than average experience, but in the realm of company performance would not be the norm.
The first item to consider when reviewing a business review or complaint is to look at the number and frequency of complaints. If a company has only one complaint a year, or even a complaint or two for a high volume business, that means that most of the customers are satisfied. Consider that there are television commercials were they
If you’re currently in the midst of planning an expansion into the Singapore market, you’re probably wondering just how much of a culture shock to expect. For westerners especially – Americans, Brits, Aussies, and Europeans – life in the east is a big change. They do things very differently and it can take a while to adjust.
Nevertheless, investors and executives in Singapore have the same ambitions and goals as those in other countries. They want to maintain a great reputation, build up their businesses, and increase revenue streams. Once you understand this, embracing the corporate culture in Singapore is easy, because success lies at the heart of it all.
These handy hints and tips will help you master some of the cultural basics and impress people with power and influence in Singapore.
Plan Your Meetings Well in Advance
While this might not be possible on every occasion, Singaporeans prefer to have a lot of notice before they need to turn up at formal meetings. At Servcorp Singa
There’s having to find office space, getting permits, hiring people, and more. Aside from those, you also need a business plan. In what direction do you want the business to go? How much money would you like to make five, ten, or so years from now? Those are very important questions to ask, but since you’re still in the early phases of your business, you should also seriously consider these some things.
1. What sector will you be in?
Let’s say you want to be in IT (information technology). It’s a huge, cutthroat industry, with lots of companies, both big and small, competing for market share. It’s a lot tougher for you as someone just starting if you want to jump into the industry as well. So then, you first have to find your niche. What sort of products or services will you specialise in? What can you offer that your competitors don’t have? Don’t just go with the flow. Be unique and offer something really valuable to your potential customers. Ideally it’s something they’re looking for that your competitors just can’t offer them. That way, your business will stand out above the rest!
There is really a lot to be said for the ‘spirit’ of things. This has to do with mindset and extends to the environment in the business. Is it bright and shiny? Or is it dark and dubious most days? It is obvious that if the atmosphere is one of positivity and hopefulness that it will carry the business a lot farther than if someone is skeptical and just has a negative attitude. This can be about the time, money or duties required to conduct the business.
A positive mindset is so important that steps should be taken to create a positive atmosphere no matter what is happening or not happening. Remember wherever you are focused, that is where you will likely end up. That is why it is so important that you force yourself to be in ‘a good mood’ about your life in general as well as your business. Do not allow yourself to get off into self-pity or create reasons that you know you will fail.
You can accomplish this positive mindset by doing mental exercises whenever you feel a dark cloud hovering over you. Truly know and believe that you can succeed.
Business intermediaries need to be up-front with their seller clients, educating them on the challenges faced, and the likely impact that one or more of these issues will have on completing a successful transaction.
1. UNREALISTIC EXPECTATIONS
a. Valuation/Listing Price:
Arguably, the price a business is listed at is one of the critical elements to a successful sale. An owner’s emotional attachment to their business, coupled with an inexperienced business intermediary’s desire to obtain the listing and please the seller, can be a recipe for disaster. Overpricing a business will deter knowledgeable buyers from establishing communications. Additionally, it will be extremely difficult to defend the valuation when a business has been priced unrealistically. The typical outcome is that the listing will languish in the marketplace and recovery becomes more difficult. Once on the market for months on end at the wrong price, the process in re-pricing and re-listing creates a whole new set of challenges, the least of which is maintaining credibility.
b. Unrealistic Terms and/or Structure
Deal structure, asset allocation and tax management must be addressed proactively and early in the process. Often the Buyer and Seller place all of the focus