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February 2018

The foundation for building any successful business is outlined in the business plan. It communicates long-term company goals to your employees and builds confidence in potential investors to fund or support your growing business. We provide some considerations to keep in mind when drafting your business plan.

 

1. Vision, Mission, Objectives

You have your own motivations driving you to take your first entrepreneurial steps – now, articulate it through your business plan. The company vision paints a picture of where you see your company in the future, and the company mission describes the purpose of this business and its value-add to society. Both of these place employees and stakeholders on the same page with you, giving everyone a common direction to work towards.

Objectives highlight the feasibility of achieving this direction, by giving clear benchmarks to measure the firm’s progress towards attaining the aforementioned goals.

 

2. Business Model & Strategies

Next, outline the specifics of your business model. This will include the good or service to be provided and your business’ unique selling proposition. Relevant figures will be included here, such as start-up capital, anticipated expenses and anticipated income, all of which should add up to a projected healthy and sustainable cash flow.

 

3. Target Market Analysis

A common misconception many new business owners have is that the business plan should speak solely about the business. However, showing adequate awareness of market conditions and competing firms displays open-mindedness from the business owner’s end, indicating the business’ willingness to adapt and evolve.

Your business plan should convey research about market trends, current big players and most importantly, how your business intends to build a market share among existing competition. Take into account the challenges of starting out small, and be realistic and honest with your evaluation – the contents of a business plan indirectly serve as a promise to your employees and stakeholders.

 

3. Open to Change

A business plan should never be set in stone. Run it through established industrialists and analysts, note consumer confidence in your business, and discuss with peers from the entrepreneurial community. Doing these could surface areas of improvement for your business plan, from the viability of your business model to the tone and nuances of your written vision and mission. Changing market and consumer trends should also be regularly tracked and taken into account when a revamp of business model is necessary.


In our final article of this series, we share our recommendations for getting the word out for your young business. Stay tuned!

For more business insights, follow Canon Singapore on LinkedIn.

 

Successful businesses should always be looking at means and ways to improve its workflow efficiency and output. In today’s fast-paced society, and saturated business landscape, productivity is key to remaining competitive.

The following tips have been selected from the words of high-performing employees and prolific businessmen – stick to them and you will surely see a boost in productivity! Here are some simple actionable tips on how to be more productive in the various aspects of your life.


Keep to the Two-Minute Rule

If a task on your to-do list takes less than two minutes to complete, finish it first. As recommended by researchers David Maxfield and Justin Hale from the leadership training company VitalSmarts, these tasks could simply be responding to an email or calling up a client – be sure not to let them pile up and snowball.

Act immediately on these easy tasks, and you will find yourself quickly striking things off the list, getting the hang of things. Your motivation and confidence will also get a well-deserved boost as you accomplish each task. Soon, you will find time to focus on what’s most important.


Strategise and Prioritise

This may seem counterintuitive, but prioritising on the right things highlights smart working habits. Do not be afraid to seek assistance on the jobs that require more effort or things that can be completed more effectively and efficiently by someone else.

Choose to prioritise things strategically. This frees time for you to focus your energy on more pertinent tasks. Taking on more than you can handle will affect all aspects of your work – even if you start out with good intentions, this means shoddier work, missed deadlines and room for error.


Plan Your Schedule Ahead

This may seem like a no-brainer to many, but many dismiss the importance of time management. Good planning includes details like the time you might spend in traffic or the prep that needs to be done before a crucial event. A poorly-planned schedule with too few details will make you think you have more time than you actually do. Daymond John, founder of FUBU and a judge on Shark Tank, checks in with his management daily in order to have the information to plan his schedule better.

Be sure to buffer additional time for unforeseen events and try not to fill up your schedule back to back – this leaves some time for you to catch a break if need be. After all, if something goes wrong, your entire day’s worth of work gets disrupted and this will only bog down productivity.


Use Visuals to Remember Details

To remember names, events and other details, try associating them with a corresponding image. In the workplace, the flood of names and numbers may be difficult to recall as they are too abstract for our brains to latch on to. Once attached to visuals, these details will be better ingrained in the subconscious mind; you may find yourself able to remember even the tiniest, most specific detail.

Memory guru Harry Lorayne calls the process of creating mental images the ‘Original Awareness’ of the material. Thinking of especially animated and vivid images can help create a stronger connection to the details you are trying to recall. Boost your own productivity while injecting a healthy dose of fun into work.


Keep distractions away

Email alerts, smartphone notifications – they break your momentum and make you lose focus on what’s important. Every chime or buzz only makes worse the constant itch to check your phone. Melissa Bushnell, the founder of Baked by Melissa, spends her time creating products instead of spending time on technology.

Take the time to manage your notifications, shutting off non-critical ones when completing tasks requiring great focus.

Even better, shut down your phone and lock it away if you can. Once your phone is out of reach, your productivity is sure to enhance tenfold. On your PC, download website-blocking apps such as StayFocusd to limit the time spent on particular websites like Facebook.


These steps may seem simple to all of us – how productive you end up will depend on your willingness to adhere to them. Once these actions turn into habits, you will find your productivity skyrocketing.

For more business insights, follow Canon Singapore on LinkedIn.

Business leaders who are often tasked with presentations will be happy to know about the newly released wireless presenters PR500-R and PR10-G, which have great features to help make the most compelling presentations.

Go the Distance

Users can explore presenting from various parts of the room to keep the audience engaged so as to get the presentation going. The new and improved PR500-R and PR10-G presenters work within an effective range of 20m and 30m respectively – now presentations are no longer constrained by space limitations!

Make a Point

The PR500-R features a double intensity red laser that stands out and directs the audience’s attention to the most important points. Consider the PR10-G if you want to highlight the smallest of details in large presentation settings. Its luminous green laser beam shines up to eight times brighter than that of an ordinary red laser, giving the audience perfect visibility on the things to take note of.

Stay in Control

Both the PR500-R and PR10-G presenters feature an intuitive design with tactile buttons, enabling users to switch between keys and navigate presentations with ease. Weighing 53g and 71g with batteries included for the PR500-R and PR10-G respectively, the lightweight provides a comfortable grip even when used for long periods of time.

In addition, the PR10-G has a timer function with vibration alerts to help keep track of time, so that users don’t have to be consciously mindful of it. The backlit LED time display also comes in handy when users miss out on the alerts or have to present in a low light setting.

Ready to Go

The PR500-R and PR10-G presenters are compatible with the Windows and Mac operating systems. With the plug and connect function, users can simply plug in their devices and use them straight away without having to install them beforehand.


Speak with our Sales Professionals here to find out more about the PR500-R and PR10-G presenters. Also, do follow Canon Singapore on LinkedIn for more business-related solutions and insights!

Prevention is better than cure – this old adage perhaps best describes the ideal strategy towards cyberthreats. Cyberattacks show no sign of slowing down, with notable incidents like WannaCry and Petya taking up headlines in 2017. Here are some trends experts believe will persist from the year before; with this knowledge, businesses can be better equipped to improve their cybersecurity strategy in 2018.

1. More Cybercriminals

Simply put, the increased accessibility of technology has made it easier for one to become a cybercriminal. In this digital age, information is everywhere – any individual can search for relevant know-how or tools on the internet.

Successful cybercrimes also are publicised widely through online means. While this may be done with the intention of raising awareness, the internet’s wide reach would cause the information to land in the wrong hands, unintentionally motivating cybercrime instead. Particularly, the potential gain from the recent spike in cryptocurrencies has driven the popularity of cryptojacking, where hackers secretly mine cryptocurrency from unknowing parties.

2. Education & Healthcare Targeted

From the perspective of cybersecurity, these two industries share several similarities. For starters, a shift towards more convenient tech like Internet of Things and cloud storage in these fields has not been matched with a sufficient emphasis in proper security measures, leading to vulnerable network endpoints for hackers to exploit.,

Secondly, these industries have access to a wide pool of confidential personal information, and such data holds significant value in today’s data-driven society. This combination of weak data security and value of information to be gained makes these fields attractive targets for cybercrimes, and increased vigilance and security should be exercised.

3. Beware of Malware

Unfortunately, malware could be considered a victor in 2017. The widespread effectiveness of malware in episodes like WannaCry and Trickbot had demonstrated the efficiency of this method in compromising entire networks. Its main downside is its lack of subtlety and invisibility upon introduction, but the data breach often happens so quickly that the damage is already done before security measures can clamp down on it. It can be expected that malware will continue being cybercriminals’ preferred weapon of choice for 2018.


While it is impossible to predict the future perfectly, being aware of these trends at least places us in a better position to exercise vigilance towards cybersecurity as a whole, safeguarding our businesses and customers this new year.

For more business insights, follow Canon Singapore on LinkedIn.