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Five DOs and Don’ts in Running a Small Business Company Successfully

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Small Business  is the most popular business to be started by Entrepreneurs around the world . Every year   thousands of Entrepreneurs turn their dream businesses into reality. Some will go with Venture Capital , Some start Solo Flight and Some may be nurtured by  Startup Incubators and Accelerators by providing Seed funding and Training the Small Business Team to enter the markets in a grown up company style with Know how about the Operational, Sales , Marketing and planning  technicians and Market Research to tailor the product sand services as per the demand of the customers .

The Demand Pull Startups should have enough resources and workforce to cater the needs of the Market . Let me share with you the Five Dos and Don’ts  in running a  Small Business Company Successfully.These DOs and Don’ts are instrumental in making your Small Business Company Successful .

DOS FOR  SMALL BUSINESS COMPANY SUCCESS

1. Always  deliver the Service or Manufacture the Products  Keeping in view the demands of the Market and level competitors already flocking the Market .Market Study , innovation  and Standard adherence  will lead to Success.

2. Always  Test and Try something which is either manufactured , Produced or any service being offered so that you may not go on losing the Customers Trust due substandard Product or service . Always Keep check on Quality and Standard.

3. Always  Deliver  the Products or Promised  work  either  Before  or on the Promised date and time so that you may not break the trust .Delivery on time  will also boost your Organizations  Name and  the customer Feedback will also attract the prospective customers to avail your service or shop your products.

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4. Always take care of Prices since Prices are raised as per the material or demand of the service  . If you raise your prices for Products or services  abruptly without taking into consideration of the competitor price then their chances that your sales graph may fall Downwards  and at the same time your Profits will also fall.

5.Always hire the most efficient and experienced Staff as  amateur  Staff will require on job training to work  efficiently since Knowledge , Expertise and Training will increase the efficient of the staff . Always run some  staff promotions ,sales targets and Prizes Salary Bonuses or Tours  if they achieve some remarkable landmark . This will increase  the Staff interest and at the same time increase internal Staff Competition for targets .

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Don’ts for Small Business Company Success

1.Don’t Spend Lavishly :Finance is considered the Soul of  a company and  you need to take care in spending the Funds so that you may not face some financial constraints in running the Small Business Company Affairs . Don’t over spend  on Company Operational work  rather you should  live within the allocated budget and Funds available with the bank .

2.Don’t  Hire in haste:Hiring is the most important step for those Startups who are already running with skeleton staff . You need to fill the non-supervisory position on urgent basis but be careful in filling the key management , Administration , Financial or Sales Position which are the real worth of the company.

3.Don’t Compromise :  Compromise on the Quality ,Standard or Price  may lead to your Administrative failure since if the customers started complaining about your service such as Content writing , SEO , Web Design & Development , Networking , Telecommunication , Wireless Networking etc , you will have to pay huge price in rebuilding the customer Trust and confidence . Compromise may affect your brand life Cycle as well.

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4.Don’t break the Financial Trust :If you borrow some amount from the bank or received orders from the customers along with the payment then you should immediately process the promised service or product or repay the amount which was  borrowed from the bank . If the Product or Service is out of Stock or not available then refund the amount to the customer immediate as per the payment option. This will show your responsibility and fairness in financial dealing.

5.Don’t Pay late : This is the most important for the company standards and level that you should make all the payments such Salaries, Bonuses , Perks , Utility Bills , Taxes and Rent etc on time so that people may not be demanding the same repeatedly . There are several Startup companies which pay their Staff on weekly basis, Hourly basis or  Monthly basis . It is up to you or Staff Demand whether they want to be paid on weekly, hourly or Monthly basis. Most of the Companies make mass payments on the final working day .

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TIKTOK’s global  growth and expansion : a bubble or reality ?

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Social media has offered amazing tools and apps that have revolutionized the lifestyle of people. Social networks always keep you connected with your friends, colleagues and family. Some creative apps have become very popular in recent times especially among the enthusiastic youth who create funny clips with the help of  TikTok. 

Tiktok is the greatest platform for creating short mobile videos. These videos contribute to inspire creativity and bring smiles on the faces of people even amid pandemic and lockdowns. The app has become very popular even in Pandemic and as some of the best informative and educational content went  Viral. 

 Tiktok is the subsidiary of  Grand Tech Startup  Byetdance -a leading  Chinese Startup with mushrooming growth. TikTok has always been expanding its reach worldwide due to its aggressive expansion programs. At present, Tiktok has offices in  Los Angeles, New York, London, Paris, Berlin, Dubai, Mumbai, Singapore, Jakarta, Seoul, and Tokyo.

Tiktok was founded in 2012 by Zhang Yiming. Video sharing is the most popular segment among youth and the company has tapped tremendous growth. The Company is also called douyin in China but its global version is called Tiktok. The continual growth empowered it to acquire its American rival app  musical.ly. The  Company has expanded its outreach globally. 

New Dimensions  i.e. Online Education

The covid-19 has affected the Education badly throughout the world and the online digital education has been getting ground. Most of the Schools, Colleges, Universities, Coaching centres and Academies have anchored to Online Education such as live lectures, quizzes, Presentations and Webinars. Tiktok has announced to enter the online  Education in India as some of the content uploaded on Tiktok related to Education and learning has become viral earning millions of views and generating great revenue prompting  Tiktok to enter the world of  Education. 

ALSO READ :  Pakistan's small businesses hit hard by COVID-19

Tiktok has already interacted with content creators and firms in  India to Provide innovative  Learning material as all the educational institutions are closed for an indefinite period and  Tiktok finds it the perfect time to enter the world of Education. 

According to statistics that social Media app used by more than 200 million users every month in India and Tiktok will cover the range of  Science and Math related topics to help students learn from this service. 

 It has partnered with tech startups Vedanta,  Toppr,  Made Easy and Gradeup that will produce educational content for TikTok. It is also collaborating with social enterprises Josh Talks and the Nudge Foundation to mentor 5,000 people across India.

Continuing Growth  amid Pandemic

According to reports of Forbes and Bloomberg, Byetdance surpasses  Uber growth as it has become the top  Startup with value at $78 Billion. Byetdance is the parent company of Tiktok that runs various services. Byetdance has made  London as its strong base owing to trade war of the US with China in the aftermath of the Wuhan covid-19  outbreak. Trump Administration has imposed limitations on Chinese companies to pressurize China to accept US’ demands. Byetdance has attracted many professionals from Google, Yahoo, Microsoft and Apple to establish a strong hub at London to expand its outreach in Europe. 

Hiring than Firing amid Pandemic: A big surprise

It is really surprising that when the biggest companies and Franchises are constantly laying off their employees owing to prolonged lockdowns due to Covid-19, The Parent company of  Tiktok, the Byetdance has gone on a hiring spree and plans to recruit 10000 professionals in engineering, software and marketing fields that has stunned the world as even tech giants Google, Yahoo, Microsoft have laid off their staff and closed their offices over the covid-19 outbreak advising their employees to work from home.

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“Hiring spree on the part of  Byetdance amid pandemic is a pleasant surprise for the entrepreneurs, Tech giants and Experts globally.  “

Increasing Visibility of Byetdance Globally

With the ambitious journey of growth and reaping the enormous benefits, the company has no more remained a secret for the world as its subsidiary  Tiktok has broken all the records of usability and popularity exploring new frontiers with successful footprint. The recent leap of Tiktok to launch its Education initiative in India will further its grip in the  Asian markets. 

Will the bubble burst or Sustain Market Shocks?

The Byetdance has established footprints in Asia and Europe building strong basis and marketing its services, it is estimated that it can sustain the jolts of pandemic and will retain its position as some reports regarding bubble reputation will fade away forever as the popularity graph of the company maintains upward trend and keeps going.

The majority of the world population is youth so if  Tiktok focuses on youth-related interests by adopting  AI practices, it has already achieved the milestone. 

The Tech experts argue that TikTok has foreseen opportunity amid pandemic when the entire markets have crashed, Offices, Business, schools, colleges have been closed and stock markets crashed, even in such circumstances, if a company keeps hiring that means it established its strong bases so the bubble is not going to burst likely in post-Covid-19 World provided that it adheres to its policies of customer retention, market intelligence and the most important Artificial intelligence to explore the interests of users and offering more relevant content.

 Besides profits, Tiktok pledged a huge amount for Vaccine development for  Africa under its Tiktok for Good endeavours. 

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Digital

Social Media and polarization of society

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Social Media has witnessed a mushroom growth that has impacted the discourse of political, cultural and religious systems by providing the equal opportunity of freedom of expression and of sharing an opinion or viewpoint on any issue.

Social Media has played a greater role in rightwing politics that paved the way for populist politicians to reach out to their voters.

Though Social Media has connected the people around the world, at the same time, it is causing division or disintegration and facilitating the social media lobbyists to polarize the communication so much the people support the arguments or opinions or political tirades against leaders without fact checking.

The world has been rocked by social networks such as Twitter, Facebook, LinkedIn and YouTube because the users of these social networks have already surpassed millions and are growing, but due to the limited regulatory framework, fake news, cyberbullying, extremism and terrorism has reached new heights.

The influencers’ interactions with social media users have polarized the political and social circles that led to the formation of online echo chambers, a tactic of social media recommendations by politicians to influence the users to strengthen their narrative regardless of facts that whether it is right or wrong, but it is knit in a manner that echo chambers appear to be normal for the people thus changing the way of thinking and increasing the supporters base.

The echo chambers post such content that we enjoy a lot while reading, while keeping us away from the content that may stir a debate or arguments or expression of our disagreement over certain social, economic, religious, cultural or policy matters.

The echo chambers keep ideas flowing on a regular basis to the one side –the positive side of the argument, while its negative side is deliberately concealed to hide the facts.

This is the big issue that might be discussed with students, who should be informed and taught at school, college or degree level so that positive and constructive use of this digital medium could be ensured.

Social media connectivity around the world is undoubtedly amazing but the problems it created for both people and students are very dangerous, and need to be addressed and regulated.

Digital media, especially social media, for a long time remained unbridled to post any content that may fall in the purview of hatred, racism, bullying, derogatory remarks, character assault, rebellion, or anti-state elements instigating people to create chaos using the olive branch of social media. Since it was not monitored given the type of content being circulated and the information of people posting such content, including their motives behind such content as may have a constant flow of information that is recommended by the users pretending to be professionals, experts and mentors.

Alarmingly, people without fact-checking go on sharing the content and thus creating hype for such an issue as does not have a basis and was the result of a conspiracy to exert pressure on some person or leaders to get some favours.

The schools and colleges should chalk out the initiative to create awareness and practice of fair use so that social platforms should not post single or one-sided opinions or arguments but should welcome both so that positive use could be ensured. This will further the importance of social media.

Sometimes, the active echo chambers or volcanoes erupt over such issues as may be beneficial for the wider circle of society, but this finds serious criticism masterminded by people with an individual approach. They term it detrimental for them since it did not serve their interests, though it might have been beneficial for general people.

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Humans have an intuitional inclination to communicate with like-minded people or the people with the same choices on social media, thus the echo chambers get even stronger. The discourse that discourages dissenting voices always comes under fire from the thinkers and intellectuals of the nation since it is tantamount to concealing the facts from the people.

The world is coming closer after the covid-19 pandemic that engulfed the entire world, bringing misery and economic crisis. The social media debates go with biased and unbiased approaches regarding getting the vaccine. Some optimists termed it great, while some pessimists or biased approaches raised questions.

The echo chambers try to influence their opinions and win support.Similarly, echo chambers of both Democrats and Republicans only canvassed for their candidates but the leaders instigated the masses to attack Capitol Hill through social media and emotional speeches using their influence on social media, especially Twitter .

Some researchers have found that echo chambers influence people to win support but social media influencers have a follower-base of millions, and may polarize the public and politics, since influencers share success stories like internet marketers compelling you to buy their products.

The opinion leaders and experts reveal that for the last two decades, the percentage of American people having consistently holding liberal or conservative beliefs— rather than a blend of the two, which is the case for most people— has increased from 10 percent to over 20. Beliefs about the other side are becoming more negative creating an alarming situation.

Since 1994, the number of people who see the opposing political party as a threat to “the nation’s well-being or security” has doubled, which heralds how deepening polarization has predictable results raising eyebrows.

The government shutdowns, violent protests, scathing attacks on elected officials, the capitol Hill incident –all indicate that social media have been polarizing the political system and divided the nation each passing day due to echo chambers of both mainstream parties regarding the issues of health, security, human rights, employment and environment.

According to evidence from empirical research conducted on US politicians, politicians following extreme ideologies attracted a larger public audience than those who were moderate, which is the real example of echo chambers.

Usually, messages containing extreme thoughts, emotional instigation, patriotism, or criticizing the opposition received a warm welcome on social media platforms than those messages reflecting merely information.

The polarization of issues and political ideology will have serious repercussions in future that should be addressed on a timely basis so that societies could be saved from further isolation and disintegration.

The issues could be resolved through educating the people and creating awareness about the fair and professional use of social media channels for advocacy for winning support for legislation, an issue, a policy or employment.

Instead of showing the dark side of the issue, we have to educate people regarding both pros and cons of matters of importance for the general public rather than misleading the people with biased approaches to oppose the initiative of the government, community or civil society for the general benefit.

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Social Media network operators are the bigwigs and the most influential in this.They cannot be controlled but only  be regulated by framing such laws that  may ensure fair use of this digital platform and are careful so that users may not face any legal issue by discussing sensitive issues such as desecration of holy places, religions, personalities, anti-state tirades, rebellion, terrorism, extremism and so on. The sensitive issue may stir protests and cause legal proceedings, if the cyber-regulatory laws are implemented to discourage the influence of one-sided opinions or campaigns.

We cannot deny the importance of social media platforms as they provide equal opportunity to people to express and share their thoughts or opinions, but safe and thoughtful use of these platforms will encourage healthy discourse and prove pivotal in promoting dialogue to discuss social, economical and cultural issues peacefully without hitting the sentiments of other communities.

Thus, echo chambers will be less powerful to build a narrative that is appealing but the readers will be engaging themselves in the debates that need interaction.

Undoubtedly, social media platforms have changed the political and social approach of the people and enabled face-to-face digital interaction through video and audio conference calls, so their fair use will mitigate their cons manifold.

The social media networks apply algorithms to connect you with like-minded people but it is up to you whether your engagement in communication is either unbiased or biased.

Social media should be promoting positive discourse to explore the political and economic solutions to the problems of people by reflecting the two sides of the coin so that the discourse be constructive and problem-solving. Social media has given a voice to marginalized people and governments are compelled to resolve the issues of people on a priority basis due to trending topics of social media.

Even the populist leaders may face resistance from social media as the public makes the most of the freedom of expression and criticizes the role of politicians for their failure to address the issues of the public.

In recent times, Facebook, YouTube and Twitter have been creating history in highlighting issues of both public and national interest but at the same time such platforms have been taken by storm by those influencers who continue to feed the news about their vested interests and create psychosocial hype for any issue that may jolt the power corridors of Government.

The politicians always take to Twitter for their precise viewpoint and policy debate and are usually followed by millions of followers. Even the print and electronic media take the tweets as policy statements or the narrative of some party or group.

The schools and colleges should chalk out the initiative to create awareness and practice of fair use so that social platforms should not post single or one-sided opinions or arguments but should welcome both so that positive use could be ensured. This will further the importance of social media.

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WHATSAPP Privacy Concerns Affecting Public Data -MOIT&T Pakistan

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Reference to on-going news threads by National Media and social media platforms regarding change in privacy terms & conditions of WhatsApp, Ministry of IT & Telecom is monitoring the current developments and clarifications provided by Facebook Inc. in this regard.

It is brought to notice that subject changes in privacy are applicable on WhatsApp business account only, while regular non-business/ individual profiles/ accounts are not affected.   

MOIT&T would like to emphasize here to all such digital social media platforms including WhatsApp administration to adhere by privacy rights of citizens of Pakistan. In this regard, all such digital platforms need to strengthen their engagements with the Government of Pakistan so that concerns of General Public and businesses can be well addressed by all means.

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