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12 Helpful Tips That Startups Should Know

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12 Helpful Tips That Startups Should Know

The world has been built upon ideas and people willing to risk everything to see an end to it. There is no such thing as a “safe job” today. However, while the idea of having one’s own company is exciting, there are several other faculties that startups should have to be successful in this highly competitive world. No wonder, there would be challenges but the real success lies in being rightly prepared for the eventualities. Throughout the ages, there have been several startups trying to make a mark in the market but most of them end up getting bankrupt or giving up to the continued challenges. Here are 12 important tips that every startup should know.

1. Startups should have a strict purpose

Startups should have a definite purpose of their presence. They should not deal with several things all at once. A singular goal for the brand helps streamline their ideas and investment in the right places. The business can grow and diversify once you have made a mark but initially, every startup should be planning for a singular goal.

2. Startups should work fast and hard

Startups should work hard and reach the first goals as soon as possible. It doesn’t take long for ideas to leak and there is ample chance that somebody else with the resources will be willing to work upon and build his business upon yours. Don’t give your competitors a chance to overtake your ideas. Plan beforehand and start delivering as soon as you are good to go.

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3. Startups should not hesitate to fire

Startups should not be the place to show compassion. If someone in the team is not delivering and incapable of fulfilling his/her responsibilities, don’t hesitate to find a replacement. Of course, you give new people a strict time period to get acquainted with the company but they should be showing their contributions in numbers soon. For any startups, their team plays a very important role behind success or failure. You should accordingly build your team that can understand your ideas and can execute it.

4. Startups should charge flat fees

Startups should opt for flat project payments rather than overall project payments. Divide the project into accountable chunks of deliverables and make sure you are paid for what you have been doing. This way, you will not lose upon the entire payment if the client doesn’t seem to like the final output. Work upon ideas, make sure that the client is willing to follow, and handle every process so taht they pay for every step taken towards the goal.

5. Startups should get paid upfront

Startups should be relying more on advances to take up a project. In the initial days, workload will be less and you will be able to devote all your time to the present project. If a client refuses to pay an advance for a project, simply refuse to work for them.

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6. Startups should not go for bulk work and cheap clients

Startups should be setting a high standard from the first project itself. Don’t get attracted to bulk and cheap project that guarantees a long term payment but doesn’t do justice to the hard work you put into it. Clients will get unrealistic in their demands and seek discounts, especially when they realize you are new to the industry. However, it is best to have a strict pricing strategy and show that you deserve to be paid like the best in the business.

7. Startups should learn the products

Startups should be working on lean products initially rather than taking up extensive projects with an unpredictable delivery time. You can always add on to your product at later stages, but focus on the core in the initial days. Therein lay the quality and the credit. Anyone with the right tools can do the decorations. Rotimatic is one of the best example of such startup which is growing steadily and are well respected from their audiences.

8. Startups should have constant communication between employees

There should be thorough and fast communication between each member of the team. Every member should know what others are up to and this makes it easier to work towards a common goal. Depending on your area of expertise and industry, you should also be looking to use your space more wisely and strategically to entertain the maximum number of clients and work out on maximized production/service. You should also keep motivating your employees as it is very much important for startups that their employees are motivated to take new challenges.

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9. Startups should have an experience to drives ideas

Startups should be looking up to experienced professionals to take their idea forward and in the right directions. Seasoned players from the industry are a huge addition to any startup. Once you start getting experience, you will keep learning from it and can help you at long term bases. Let’s take an example of eCommerce vendor; I found that many vendors do manual research and spend lot of time in just comparing the price of their product with competitors. Just think, how much you are spending on this simple research work? If it is a senior executive, the simple price comparison work may cost you in thousands of dollars. You can easily get this job done using price comparison solutions like datacrops at very reasonable cost and in very efficient manner. Once you face such problems, you will start finding the solution based on your previous experience.

10. Startups should separate the duties

Startups should have a definite business structure. The executive who is looking into client queries shouldn’t also be the one working upon the accounts. There are hundreds of tools available in market to help you manage the projects and users efficiently. One of my favorite project manage tool is Trello, a free project management tool that can reduce your headache to manage multiple projects.

11. Startups should save money for eventualities

Startups shouldn’t be risking everything following a dream. In case your idea and business place doesn’t work out, you should have enough in the bank to take you forward in life. All ideas do not get success and failure is not end of this world. You should keep yourself prepared for any outcome of your startup. You should be ready to face failure too.

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12. Startups should maintain the discipline with co-workers

Startups should not be a place to make company or find your love. You should be having strict professional relationships in the workplace, whatever product or service you might be working upon. This is the only way you can keep everyone on their toes and willing to give their best. Work culture has a huge impact on overall output and it is very important for startups to maintain discipline with co-workers.

Conclusion:

The journey of an entrepreneur is just like an adventure, you should be ready to do lot of hard work. Sometimes you will face strange challenges and may think to quit but your self confidence and these important tips will help you find the best possible way towards your success.

Featured photo credit: Robert Scoble via flic.kr

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Last Updated on January 13, 2022

15 Best Places for Expats to Live (And Why)

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15 Best Places for Expats to Live (And Why)

Many of us dream of living abroad but can often be scared to make such a big change to our routine lifestyles and leave our home countries behind. Daunting as it may be, living abroad can be a rewarding and fulfilling endeavor and can give you the quality of life you have been looking for.

From a warmer climate to a more easy going way of life, there are many foreign countries favored by expats who stay for a long time – and sometimes forever. Taking into consideration livings standards, opportunities and social aspects, here are our top 15 best places to live as an expat and why.

1. Thailand

A hot spot for expats, the ‘land of smiles’ as it’s commonly known offers expats a tropical climate, a huge array of sandy beaches and islands to explore, and a rich culture. The cost of living in Thailand is extremely low, and when combined with the friendly tax system means that disposable income can be very high.

Bangkok, Thailand’s capital city, offers expats great employment opportunities.

2. Switzerland

Another popular destination for expats, Switzerland offers exciting employment packages and a high standard of living. It’s great for those who love the outdoors, as there are many beautiful lakes, mountains to hike in and skiing in the winter. The school standards for expats are also excellent, making it appealing for those with children. English is also widely spoken so day-to-day living can be stress free.

Unemployment in Switzerland is low and expats moving here don’t need to worry too much about finding a job before they arrive.

3. Australia

Many foreigners who visit Australia don’t want to leave as it offers a great quality of life, beautiful beaches and a warm climate. Making friends in Australia is easy too, due to the lack of language barrier and the large number of expats who already live here. Australia is a great place to move to if you have children because of its wide range of schooling possibilities and recreational outdoor activities.

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Low population levels and high quality of life are two of the main reasons expats choose Australia as a place to live.

4. Singapore

Expats in Singapore can benefit from generous financial packages, great career opportunities and low tax rates. Although education is expensive here, it is rated one of the top places for raising children abroad due to the quality of the education system and the array of schools.

Public transport such as buses and MRT (Mass Rapid Transit) are cheap and very reliable in Singapore.

5. South Korea

South Korea offers expats a unique range of opportunities and a very different way of living. Jobs for expats are easy to find and usually very well paid, with apartments provided by the employer on the most part making living costs even lower. There are also many tight-knit expat communities in South Korea, making it easy to socialize and meet new friends. The excellent education system is also a pro for families wanting to move to this culture-rich country.

South Korea has a cheap public healthcare system and offers great medical care, with most doctors speaking English.

6. New Zealand

New Zealand is constantly on the lookout for skilled workers to expedite to the country – especially those under the age of 30 – and skilled migrants can be granted a stay for up to five years. It offers a good climate and although income levels can be lower than other countries, quality of life is high, with its awe-inspiring scenery, low crime rate and state sponsored healthcare.

New Zealand is great for those looking for a laid back and active outdoors lifestyle.

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7. Canada

Its national healthcare system, friendly locals and very high quality of life are just a few of the reason expats choose Canada as a place to live. It’s very welcoming to expats and skills shortages encourage foreigners to move here in order for the country to grow economically. It’s easy for expats to feel comfortable quickly in Canada due to its multicultural environment.

Canada was largely unaffected by the economic crisis, making it a very popular country for expats.

8. Qatar

Qatar is becoming increasingly popular among expats with an estimated 500 new arrivals every day. The salaries are generous and are tax free too, making disposable income very high. Car and housing allowances are part of many remuneration packages, and education for your children and airfares are often included.

The cost of living is lower in Qatar than in other UAE countries but salaries can still be just as generous.

9. Hong Kong

Where east truly meets the west, this bustling island has a population of over seven million people. If you’re looking for a fast-paced environment and an active nightlife, Hong Kong is definitely the place to be. Benefits for expats include its advanced healthcare system and elevated standards of schooling for children, along with great employment opportunities. The cost of living in Hong Kong can be high, so trying to negotiate a housing allowance with your employer can be beneficial.

Hong Kong is great for those looking for high incomes and career advancement.

10. Japan

As an expat destination, Japan offers a rich culture and a chance to experience a very different day-to-day life. Currently around two million expats live in Japan, and in the larger cities such as Tokyo a large portion of the population speaks English. English speakers are also in demand and there are a large number of opportunities for language teachers, especially in the capital.

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Japan offers a high standard of living for expats and a good education system for those with children.

11. Spain

Spain is a very popular destination for expats due to the high temperatures and year-round sunshine. EU residents don’t require a visa to work here, meaning the move can be a lot easier. Skilled foreign workers also continue to be in demand with jobs such as engineering, customer service, skilled trades and language teachers widely available.

A huge 14% of Spain’s population are expats from a variety of foreign countries.

12. Dubai

Two of the main attractions of moving to Dubai are the tax-free salaries and the warm climate. Some of the most popular jobs for expats are in construction, banking, oil and tourism. You can also enjoy a busy social life in Dubai as the expat community is thriving. Although it can be an expensive country, the tax-free salary means you experience a higher quality of life than in other countries.

You will need a work permit, residence visa and an Emirates ID card to live in Dubai as an expat.

13. Germany

Germany is one of Europe’s most populous countries, with around 82.4 million people. It’s a lively and inexpensive country to live in as an expat, and if you have children the education system is great and healthcare is to a high standard. An estimated 250,000 expats live in Germany currently, with the numbers rising every year.

If you are already an EU citizen, you don’t need a visa to live and work in Germany.

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14. The Netherlands

The Netherlands is a great place for expats who love the outdoors. Cycling is one of the main modes of transport and looking after the environment is widely recognized. There are a lot of English speakers in the Netherlands too, but learning the language can work to your advantage and make day-to-day life that little bit easier. Skilled expats can also benefit from a tax-free allowance equivalent to 30% if they meet the correct criteria.

It is often more important to be able to speak fluent English than to speak Dutch when looking for employment in the Netherlands.

15. China

China offers expats great employment opportunities with little competition. Those who embrace the culture and decide they want to live in China long term can see a host of employment opportunities as its economy is growing rapidly every year. Economists predict it will overtake the US as the world’s largest economy by 2018. China also offer expats low living costs and high disposable incomes, which is why many look to live here for a higher quality of life.

Shanghai and Beijing are the most popular destinations for expats who live in China.

Featured photo credit: Saulo Mohana via unsplash.com

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