5 Proven Practices in Building your Business Brand

Personal Brand

If your brand immediately comes to mind whenever someone mentions a particular product, then you can safely say that you’ve succeeded in building your brand. This is exactly the case for the Coca-Cola brand, which has been the flagship of the soda industry for over a century now. Achieving this level of success is the result of solid practices that has shaped the biggest brands in one way or another. Here are five of them:

Think Out of the Box

Don’t be afraid to experiment and take risks! If product poses some subtle similarities to other brands, make sure to make yours stand out! Invest in features that will show consumers that you are a visionary who strives for excellence more than profit. Do you think that the owner of Nokia hates the fact that the word “indestructible” is associated directly with his products? Of course not! So while all other mobile phones are generalized as fragile, Nokia has made a name for itself for being uniquely durable.

Hire the Right People

Making it big is practically impossible if you plan to go solo all the way, which is why you eventually have to distribute tasks to people who have the necessary skills. Not only will the manpower be multiplied, but you’ll also have a roomful of brains to bounce ideas with. You’ll never know how much innovation you can attain until you hear your employees out. Although this doesn’t mean you can slack off! You still have to do your part as the boss and owner.

Package your Product

Marketing your products/services plays an important role in building your brand. Make an impression on your target market by starting off with bazaars and social media platforms. Nowadays, social networking services makes things a lot easier for starting businesses. If you can get artists or bloggers to promote you, then that’s even better!

Think Ahead

Set a goal and run to it. Never start with just the purpose of earning money. Always think bigger! It may be as simple as “I want to export my goods” or something more ambitious like “I want my brand to be bigger than Starbucks”. It doesn’t matter really, as long as you’re working towards your goal. Always move forward, don’t stay at a certain level too long and get comfortable just because you think you’re doing well. Remember that there will always be room for improvement.

Quality Control

Never let the quality of your product or service slip. A lot of people willingly pay for expensive Nike shoes even though they can buy an equally nice pair for up to a fourth of the price. This is because customers know it’s worth every penny they pay. An unsatisfied customer will most likely refuse to make a repeat purchase; therefore, never think twice about investing in quality control and customer care.

Finance 101: Qualities to Develop to be Financially Literate

Math Kid

Aside from the knack to read and write, did you know that there’s another literacy most people are lacking? It’s called financial literacy, which is the ability to consistently make the right decisions in managing your personal finances.

In order to be financial literate, you need a set of skills and knowledge to help you make informed and effective verdicts regarding your money. Here are five qualities you need to develop in order to achieve that state of financial security.

A financially literate person is familiar with his household expenses

Keep track of how much money you have coming in, going out, and where it goes. Otherwise, you will surely make poor investments. Credit cards can be dangerous, so be sure to note how much you averagely spend on a monthly basis, them simply adjust wisely according to your spending pattern. This way, you’ll avoid, and I’m quoting “Fight Club” here, buying things you don’t need with money you don’t have to impress people you don’t like.

A financially literate person has a vision for his or her finances

It is easier to discipline yourself with your finances if you know that you’ll eventually be rewarded for it. Having a goal in mind will make you focused in money management. It can be in the form of a new car, a fruitful business, or a dream vacation with your family. Doesn’t matter really as long as the goal will give you fulfillment. So now it’s time to ask yourself: “What am I saving for?”

A financially literate person is disciplined

A person may have good track of his earnings and a clear vision for his savings, but if he doesn’t have proper discipline, financial literacy will still be out of reach. This is why you’re next step is to a budget and stick to it. Get rid of unnecessary things and highlight the essential ones. Now, construct a budget for your daily, monthly, and yearly spending. You’ll be surprised how much stress will be lifted from your shoulders once you accomplish this.

A financially literate person looks for mentors

When it comes to money management, a lot of people offer a variety of opinions. Some of them can be useful, but the majority haven’t got a clue to what they’re talking about. For the most actionable cash advice, listen to those who practice what they preach, and to those who went from rags to riches because they knew how to handle the little money that they had.

Financial literacy is something that you don’t develop in days, weeks, months, and even a year. It is a lifelong journey grounded on risks, mistakes, perseverance, and the will to succeed. Look up to great business leaders and learn from their lives. It’s time for you to take that first step on that road to security.

“Heigh Ho! Heigh Ho!” Morning Routines to Do before your March Off to Work

Heigh Ho

People have all kinds of morning routines to get them ready for their line of work.  The late, legendary film critic Roger Ebert usually started his day at 7 o’clock with oatmeal cooked from his beloved rice cooker followed by an hour-long walk outside or on his treadmill. Afterwards, he showered, shaved and went to the first of three movies he had to see for that day.

Work can be stressful and tiresome, which is exactly why some people try to enjoy the little time they have before they march off to the office. It is often therapeutic and never harmful, so why not give it a shot? If you don’t have a morning routine yet, here are some ideas that may appeal to you.

Snow White

Exercise

Hit the gym or take a 30-minute brisk walk! Physical activity delivers oxygen and nutrients to your tissues and helps your cardiovascular system work efficiently, giving you even more energy to conquer the day. Not only that, exercise also stimulates various brain chemicals that may leave you feeling happier and more relaxed. Thus, you’d be in a good mood as you start your work.

Eat a Healthy Breakfast

If you’re wondering, breakfast means “breaking your fast”. Your metabolic state is slowest during mornings because of the absence of eating during your slumber. When you eat breakfast, your metabolism accelerates, which also increases the awareness you need for the rest of the day. The healthier your breakfast is, the more effective you’ll be at work. Whole grain cereals and fruits will always be your best choice.

Seven Dwarfs

Meditate

Start the day with meditation! Ask yourself: “What do I want to accomplish today? And how will I get it done?” Then visualize your plans. You can also think about your hopes, dreams and goals, and how your small steps today can take you to your desired future. Taking some alone time can set your mood and outlook as you start your work. Focusing on the big picture will make you more appreciative of what you have and less irritable to your huge workload or unreasonable boss.

Plan your Day Ahead

Planning is the most important part of your day. Why? It gives your day direction and helps you manage your time efficiently. So before you head to the office, make sure you’ve already mapped out your tasks and errands. Therefore, if you find that your schedule is too big for a particular day, you can delegate some tasks and reschedule meetings. Eliminate a decision dilemma by setting your priorities ahead.

Snow White Dance

Have a Morning Gratitude Session

Take a minute in the morning to think of things you are grateful of. An attitude of gratitude helps you start your day right. It boosts your mood and makes you more appreciative of little things like good traffic or pleasant weather. You will be amazed at how one simple yet positive action can change the course of your day.

Look at it by this way: When you have a great morning, it’ll give the impression that your day is already complete. Remember, your morning attitude can make or break your day. So rise and shine by trying these tips and tricks. Surely, you’ll be singing “Heigh ho! Heigh ho!” as you march off to work.

5 Ways to Have Quality Time with your Kids after Work

The Dunphy Family

“I’m home!” You call out upon your kids stepping inside the living room. But then they don’t even turn their heads to greet you. They are busy watching the television or answering their homework. The workaholic in you has created a gap between you and your children. Sad, but that’s a reality amongst countless family nowadays. With a endlessly busy schedule like yours, where can you ever find the room for quality time with your kids?

Let us give you some bright ideas.

Luke I am your father!

Come home early

When you know the kids are waiting for you, don’t hang out anymore with your officemates after work. What’s the sense of planning bonding time with each other if you’ll only arrive after they’ve gone to bed? Never take the kids for granted because no one can take their place in your life.

Modern Family

Eat dinner as a family

Kids love to see their parents and learn from them. Simply eat the dinner together and talk about your day. Be a witness of the development of your kids’ personality as you listen to them talk about their teachers, lessons, friends and even that dog next door. You’ll be surprised at their quirkiness about seemingly trivial things.

Phil Dunphy GIF

Help them with the homework

Isn’t it nice to see your kids learning how to draw a circle or do the math? You’ve no idea how much they’ll appreciate your supervision as they do their homework. Aside from the fact that they’ll get better grades, simple words of encouragement and approval will boost their confidence with his or her future projects.

Modern Family GIF

Tuck them in bed

Kiss them good night as you tuck them in bed. Or if you have more time and energy, sing them a lullaby or tell them a bedtime story. Kids love stories a lot for it is at this stage of their life that their imagination peeks. Who knows? Maybe you have the next Pablo Picasso or Neil Gaiman or Beethoven right under your roof!

Tucking them in bed also keeps their fears away. Maybe they’re afraid of those shadows created by intertwined twigs of that mango tree in your backyard. Or that sudden creaking in the cabinet caused by a scampering rat. If your bed is spacious, you can take the kids beside you at least once a week and hug them until they fall asleep. Oh, what a lovely sight it’ll be!

Phil Dunphy Funny

Enjoy “pasalubong” together!

Kids will really, really anticipate your return from work if you tell them that you are bringing a box of doughnuts for ‘pasalubong’. Aside from the actual munching, you can incorporate some lessons while you open the box together. You ask him to identify colors and shapes while teaching him or her the value of sharing at the same time.

Parenting is hard work, but it is your greatest job – and should be your priority. While your job can give you money, it cannot give you a child. So spend more of your time enjoying the company of your kids as you watch them grow and learn.

Shop ‘til you Drop? The Pros and Cons of Having a Credit Card

Confessions of a Shopaholic

You know how fabulous it is to walk across the shopping mall with all those shopping bags you carry along. Your face draws a gleeful smile as you pass by people who stare at you with envious eyes. And it’s just all the more fabulous to see if you were able to get all those bags in just one swipe.

That’s the power of credit cards. Just one swipe and get what you want – for a price, of course!

If you’re thinking about whether to get a credit card or not, here is a list of the pros and cons of owning one.

The Pros

Card in Shining Armor – Need money for a sudden medical surgery? Credit cards can give it to you in a snap of time without the hassle of piling loan documents. You also have the flexibility of paying it over time.

“I lost my cash! What to do?!” – Let’s say you were walking along a dark street and someone tried to rob you on gunpoint; chances are you will lose all your cash to that criminal. But for credit card, who will risk his freedom to rob someone just for the sake of getting a card which can be cancelled anytime?

Save your Life – Of course, your credit card statement will give you an itemized list of your expenses. This will enable you to evaluate your monthly expenditures without the worry of losing any tangible bills.

“Oh, excuse me. I have my card with me” – You can use credit cards practically anywhere, even overseas! So, if you see a really splendid bag in Paris, and you are dying to buy it but lack resources, credit card is your savior.

Like A Boss – Did you know that can choose to consolidate your bills in one credit card and pay them all in a single swipe? So awesome.

“Here’s some gifts for you!” – Some credit cards offer great rewards such as free travel for their customers. When you make purchases using the credit card you can collect points; these points accumulate and can be used to get free items. That’s a nice motivation for you to shop a lot and pay your dues on time.

The Cons

Its Name – After all, it’s called a credit card, so it’s basically debt, which no man wants to be accountable for.

Too Much Credit Will Kill You – Yes, it will. Do not misuse, abuse, or otherwise “over-swipe” your credit card. Or else what? Oh, what’s that famous line from Fight Club? “The things you own end up owning you.”

Fight Club

It’s Not about the Money, Money, Money – It’s about the illusion of having unlimited cash and the boatloads of late free charges that will drain your bank account so fast, it’ll make your head spin.

So, to have a credit card or not? It totally depends on your ability to manage your finances and control your Rebecca Bloomwood alter-ego. You can watch “Confessions of Shopaholic” or all the better, read the entire book series by Sophie Kinsella so you’ll get what I mean.

Rags to Riches: 10 Billionaires Who Started With Empty Pockets

The Wolf of Wall Street

Not everyone is born with a silver spoon. In fact, a significant portion of the world’s billionaires come from poor families, slums or orphaned at a young age. And here are ten of them:

Maria Das Gracas Silva Foster

Head of Brazilian oil giant Petrobas. Maria grew up in Morro do Adeus, an extremely poor shantytown. While her mother worked constantly, her father was an alcoholic. She collected cans and paper to make extra money.

In 1978, she became an intern at Petrobas then eventually became the company’s first female head of field engineering. Bloomberg says that her tireless work ethic has earned her the nickname Caveirao, for the armored police cars used to clean up the crime ridden Brazilian neighborhoods.

And oh, she’s also one of Forbes most powerful women of 2014.

Do Won Chang

Do Won Chang and his wife moved to America from Korea in 1981. He worked three jobs at the same time: janitor, gas station attendant and a cashier at coffee shop. Three years later, Mr. and Mrs. Chang used their earnings to open their first fashion store called – guess what – Forever 21.

Today, Forever 21 is a global brand with 480 stores and generates $3B in sales a year.

Harold Simmons

Harold Simmons grew up in a rural town in Texas where he lived in a shack with no electricity. Despite this, he graduated in the University of Texas with a B.A. and Masters in Economics. His first business venture was a chain of drugstores which he later on sold for $50M. After that, he made a series of buyouts. He currently owns 6 publicly listed companies including the largest titanium producer in the world

Zdenek Bakala

When he was 19 years old, he fled to US from Czechoslovakia with only a $50 bill wrapped in a sandwich plastic wrap. He washed dishes at a local casino until we was able to afford studying in UC Berkley, which later lead to an MBA at Dartmouth.

Zdenek went into banking then returned to his country where he opened Credit Suisse First Boston. He owns a coal company with a $2.52 billion market cap and eight production sites across Central Europe.

Guy Laliberté

Cirque du Soleil will not be born if not for Guy Laliberte. This Canadian-born talent started his circus career in the streets: playing accordion, walking on stilts and eating fire. In 1987, he brought a troupe from Quebec to the Los Angeles Arts Festival with no return ticket. This paid off and it eventually moved to Las Vegas where they became the world famous Cirque du Soleil we know today.

Guy Laliberte is worth $2.5B and is a professional poker player and space tourist.

John Paul DeJoria

John’s German and Italian parents divorced when he was just two years old. At ten, he had to sell Christmas cards and newspapers to support his family. He went to live in a foster home in LA where he became a gang member before joining the military. He later on tried working at Redken Laboratories, took a $700 loan and created John Paul Mitchell Systems. He lived in his car during this time. Today, his company is worth over $900M annually.

Howard Schultz

Howard grew up in Brooklyn and always want to climb “over the fence”. Because he wanted a better lifestyle than what his truck-driver father could give him, he word hard on getting a football scholarship at the University of Northern Michigan.

During his work at Xerox, he discovered a small coffee shop called Starbucks. Falling in love with the coffee, he left the Xerox and – after even more years of hard work – went on to become Starbucks’ CEO. Today, Starbucks has 16,000 outlets worldwide.

Li Ka-shing

Li Ka-shing’s family moved to Hong Kong from China in 1940. At age 15, his father died of tuberculosis. He quit school and supported his family by making and selling plastic flowers for US export.

Ten years later, he started Cheung Kong Industries which expanded his flower business but later on expanded to real estate. Today, he owns companies in banking, cellular phones, satellite television, cement production, retail outlets, hotels, airports, electric power, and steel manufacturing.

Leonardo Del Vecchio

An orphaned boy, Del Vecchio went to work in a factory making molds for auto parts and eyeglass frames where he lost part of his fingers. He opened his first molding shop at age 23, which slowly expanded to be the world’s largest maker of sunglasses and prescription eyewear. His company, Luxottica, makes brands like Ray-Ban and Oakley. His net worth is at $11.5 Billion.

Kirk Kerkorian

Being a casualty of the Great Depression, Kirk had to drop out of 8th grade to become a boxer. He became a daredevil pilot for Royal Air Force during WWII by delivering supplies over the Atlantic where one out of four planes crashed.

From the money he earned, he became a high roller on the tables and eventually a real estate magnate in Las Vegas. Among the establishments he owns are The Flamingo, The International and MGM Grand – stalwarts of the Vegas scene.

Basic Business 101: Pros and Cons of Buying a Franchise

Pros and Cons

Many Filipinos dream of owning their own businesses. Why not right? You handle your own time, profits can exceed your annual salary, and you can finally take that vacation without asking permission from anyone.

This is where you have a choice of starting your own business from scratch or franchising.

Investopedia defines franchise as a type of license that a party (franchisee) acquires to allow them to have access to a business’s (the franchisor) proprietary knowledge, processes and trademarks in order to sell a product or provide a service under the business’s name.

In layman’s terms? In exchange for gaining the franchise, the franchisee usually pays the franchisor initial start-up and annual licensing fees. Are we all on the same page? Great! Let’s discuss the pros and cons.

THE PROS

Brand recognition is probably one of the most important features of franchising.  If you have a franchise of a popular brand, you can almost be sure that there is already a market ready to accept you. However, the most popular brands are also the most expensive franchise.

Correct operating system – one of the hardest part of running a business is developing the correct operating system. How should you run collectibles? Should you extend credit to customers? How much flour should you order? Which equipment should you purchase? With a franchise, the franchisor will teach you the correct way of running the business so that you don’t need to experiment on the methodologies and procedures.

Higher opportunity of holding two jobs at the same time – Since a franchise already has a system running, it is more possible to continue being employed and run another business.

Marketing and advertising supportOwners of small businesses have no economies of scales. Being part of a franchise chain means that if the franchisor decides to put up a billboard or run a promo, your store, which already has the brand recognition, also benefits from the campaign.

Higher success rate – Studies worldwide show franchises are more successful than start-ups. But be careful though, because your overall success largely depends on your type of franchise and how you nurture it.

THE CONS

High start-up costs – Most franchises require twice the amount of investment you need for starting your own business.

More expensive supplies – Most franchisors require their franchisees to purchase through their accredited suppliers for quality control. This can be costly as you cannot canvass for cheaper suppliers.

Royalty fees and other charges If you start your own business, all profits go to you. However some franchises require you to pay royalty fees on top of the initial start-up cost.

Less freedom in operations – If you have a brilliant idea to counter a competitor, you would need approval from the franchisor. In fact, any drastic changes you want will need approval. This may be frustrating for some.

Franchisor’s problems become your problem too – Just as you benefit from the good brand name, if the brand becomes tainted, so will your franchise.

Before everything else, make sure you are ready to handle a business. Franchising is not like buying a property and expecting income to flow in. You still need to spend time, blood and money to keep it running and going.

Franchising is not a passive investment – it is a business that must be run on a daily basis. Ultimately, the choice is yours as it depends on your capital, free time, and appetite for risk.

E-Mail Marketing: How to Build a Solid Foundation

E-Mail Marketing

E-Mail marketing can be described as one of the simplest cost-effective ways of promoting. However, e-mail marketing is more than just sending e-mails to attract and acquire buyers. To get a better grasp of the process and how it can benefit your company, consider the following tips and principles.

Establish a Goal

This is probably the most significant step towards building a strong foundation in e-mail marketing. By setting a goal in your marketing strategy, you would then be able to gain focus on your target, which would then guide you in structuring the rest of your campaign.

Identify Customers

Many promotional e-mails are considered and treated as spam. This happens often because the potential customers are not properly identified and targeted. If the selected recipients are known to be interested in what you are offering, it is likely that your publicity will not only be noticed, but also appreciated. Study your target market and use their demands to catch their attention and, ultimately, turn them into loyal customers.

Offer Relevant Products and Services

After setting your goals and identifying your target market, ensure that the information gathered would be used accordingly. You’d surely offer the right product in the perfect manner if you know your objectives and the interests of your potential customers. When you serve them with the relevant product or service, your marketing effort would eventually reap rewards.

Create Interesting E-mail Content

Send them an e-mail with an eye-catching subject, message and other attachments. Most often than not, offerings from different companies differ little. But a good amount of exposure and publicity materials could make the big difference. Attach images such as posters for better visualization and entice them with your words and offerings.

Offer Promos and Discounts

Building a solid foundation through e-mail marketing involves offering promos, discounts and special privileges would also help big time. People are always attracted to the idea of incentives. Applying this strategy would both spark interest and boost brand awareness, increasing the chance for referrals and word-of-mouth marketing.

Build Trust

While sending promotional e-mails, make sure that you are able to meet demands and maintain interest. Aside from strategically scattering mails, you should also engage your market through genuine conversation.

To keep in touch with your customers is to build trust and loyalty. Make them feel your warmth and sincerity. This is so that the customers would not feel like you are only communicating with them to sell your products and services. Establish good vibes by sending them greetings during special occasions and holidays as well.

Building a successful business involves the application of a variety of marketing strategies, and the popularity of e-mail marketing continues to become more valuable as technology continues to rise. Don’t get left behind. Utilize e-mail marketing for your business now!

How to Survive your First Job Interview

Job Interview

Job interviews don’t have to be as difficult as most people expect them to be. Regardless of how intimidating or terrifying your interviewer could be, what is important is your confidence in your own skills, knowledge in your field, how you present yourself, willingness to learn, and how memorable you are during an interview. It helps a lot if you are passionate in the field you applied for, because employers can see the difference between someone actually wanting to be a part of a team and someone who just wants a paycheck.

Still, it can be a little nerve-wrecking if you’re exactly not sure what to expect and how you’re supposed to act. Read on to prepare yourself for first job interview.

Do your Research

The second you get a call or an e-mail for an interview, do your research. Discover the culture of the company and what kind of skills the position requires, and then gauge whether you’ll be a good fit. This can also help you think in advance how you’ll be able to contribute to the company. In addition to this, try to also figure out how casual or formal your attire for the interview should be by seeing what the other employees wear.

Are you Koalified?

But seriously. Are you?

Be Early

Being early has a lot of advantages, aside from proving to the employers that you have initiative. It will give you enough time to calm your nerves before you face the interviewer. Staying unruffled is essential for you to be able to answer questions efficiently, which communicates confidence!  If it’s a mass interview, being early is also a convenient way to avoid having to wait too long for your turn.

Be Humble

Yes, you should impress your interviewer, but don’t be a show-off. Show that even though you’re confident in your skills, you’re still willing to learn and adapt. Most companies would rather hire someone with mediocre skills but is a team-player and can learn easily rather than a know-it-all who is difficult to work with.

Be Likeable

Smile often! Listen when the interviewer speaks. Don’t be contradicting, and always be respectful. It’s really that simple.

Be Honest

But be smart when you’re being honest. If asked whether you have any weaknesses, tell them upfront, and then follow-up with how you plan to fix this. For example, if your weakness is being late, inform them that you’re currently trying to remedy your sleeping habits and setting your alarm much earlier. And be sure to actually do it! You can also counter the negative with a (real) positive trait of yours. For example, if you think you’re a bit antisocial, inform them that it’s because you tend to focus too much on your work. Never lie though!

Volunteer Information

Even if you’re not asked, smoothly include a few of your positive traits into the conversation. Tell them about a particularly difficult project you worked on (even if it was for school), what you learned from it, and how you were able to pull through. Or maybe tell them about a life experience that helped you mature in certain ways. Learning experiences, even negative ones, can help them gauge how efficient you can be in the workplace. As previously stated, being memorable is important, so don’t be afraid to be a little quirky or different. This is what separates you from the many faces they’ll be interviewing and could ultimately get you the job.

Don’t be Afraid to Ask

At a certain point during the interview, usually by the end, the interviewer will ask you if you have any questions. Don’t ask about your salary first because it creates the notion that you’re only interested in the job for the money. A few of the important questions include what sort of responsibilities you’ll be in charge of, their expectations of you, what happened to the person who was previously in the position, and what is the prospect for advancement.

Additional tips: Never lie on your resume or to your interviewer’s face, and always look clean and professional no matter what you’re wearing. At the end of the day, it’s not always the best candidate who gets chosen, so don’t take it too personally. It’s a good idea to ask your interviewer off the bat when you should be expecting to hear from them, so somehow you’re aware if you’re out of the running and can move on.

5 Reasons Why your Business should have a Solid Ethics Code

Ethics Code

You as the boss are the supreme commander and leader of your business. But that doesn’t necessarily equate into immunity when it comes to work ethics. To be successful in creating a solid ethics standard in your workplace, you have to take responsibility in setting the direction of ethics that your managers and employees will abide by.

A solid ethics code should tackle the following work factors:

  • Customer Treatment
  • Rules for relationships within the company
  • Discrimination of whatever kind
  • Resolution of internal conflicts
  • Standard of quality

These is only the tip of the iceberg if you’re serious about building and maintaining a solid ethics code in your company. Letting your employees and managers know how customers should be treated is number one in the list of priorities for any business. Without clients, there probably wouldn’t even be a business.

When it comes to rules regarding discrimination, there is pretty much only one: don’t do it. There should be no tolerance for this act no matter the situation. One employee should not find less favor in the eyes of anyone in management, including yourself, just because of the color of his skin tone, nationality or even disability.

Office romance is sometimes frowned upon, especially by the bosses. There are many reasons behind this, but not all companies have a policy against it. It all depends on whether a company allows it or not. Now you, as a business owner, should also have a stand on this. Always think of what’s best for both business and staff.

Having internal conflicts between managers, employees and even board members are not unheard of. In fact, most businessmen are already used to this sort of thing. However, if not handled with proper ethics in mind, it could affect the business negatively. This is why it is important to have a solid ethics code that tackles how situations such as this should be taken care of.

The quality of work delivered by the people operating the business should also be guided accordingly by the ethics code. This will help motivate the members of the company to strive harder to deliver outputs that won’t put the code to shame.

If any of the ethics code are to be violated, there should also be set sanctions that will be acted upon. Without punishments, it will be too easy to not stick to what the code says and ultimately, efforts to keep it in place will be futile.

Now we come to the big question of WHY your business should have a solid ethics code. To answer that as frankly as possible, here are the benefits of having a good ethics code that is written down and incorporated to every single member of the company:

Checklist

1) It creates and supports a working atmosphere that is respectable and comfortable at the same time. Employees and managers will be confident that their colleagues will deliver outstanding productivity because it is expected of them.

2) It boosts the level of communication both internally and externally for the company. Being backed by a solid ethics code empowers employees to speak out without fear of being singled out by the higher ops. A workplace atmosphere that isn’t polluted by fear is definitely a good place to be in.

3) A positive company reputation will spread to the clients, customers and competitors within the industry and probably even farther out.

4) Legal Considerations will be easier to weigh in with a solid ethics code within the company. Anyone who has run a business of whatever kind will know how dirty things can get, especially if a certain sum of money is involved. A solid ethics code will help keep the business on a straight path, away from the dangers of illegal transactions that could, in the end, destroy the entire company and the people in it.

5) Decisions, decisions and more decisions. This is the burden of being a business operator. It can be quite a daunting task, more so if there is no ethics code to lean on when the time of indecisiveness arrives. Whether it be a mere part of daily decisions to make or a strategic one that could change the face of the company, a solid ethics code will help everyone do the right thing to achieve the best decision.