Archive for July, 2009
two cents: motivating staff in tough times
As published on Bazaar Magazine monthly article: Loaay’s Two Cents
How do you motivate staff when you can’t give them money and promotions are not possible at the moment?
Incentives can take various shapes. While money works with different positions like Sales and C levels, there has been a growing interest by management in the US and Europe to consider non-monetary incentives. A recent study in the US shows that employees are spending more time at home than before. So, managers started to give incentives that can be used at home. From Healthy food packages and grocery stores credit to computer accessories and electronic appliances, just look around your home. However, when cash is sparse, such items are a luxury.
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two cents: raising money away from banks
As published on Bazaar Magazine monthly article: Loaay’s Two Cents
We’ve started a new marketing services business a year ago. I know we can do better if we take a loan to increase our capital. What options do we have if the bank says no?
Granted, financial institutions are more cautious about lending. However, recession or otherwise, banks are not your only option; and they shouldn’t be. When raising capital, you can take a loan from a bank; turn to friends and family; go to The Kuwait Small Projects Development Company (KSPDC); investment companies that are interested in your line of business; or Venture Capitalists (VCs). Although you have many options, you need to consider the cost of raising capital. Sounds like a puzzle? It’s not. Let’s break it down.
two cents: family business vs. independence
As published on Bazaar Magazine monthly article: Loaay’s Two Cents
My family owns a Power Tools business that has been in business for years. My father wants me to take over so that he can retire. I’ve just graduated. I don’t have the experience required and I don’t like the industry, but I feel bad saying no to my father. What should I do?