Having carefully designed a product or service which can satisfy the needs of your potential customers, it is time to let them know that the solution is at hand. You need to find the best way to communicate with your customers. Promotion includes all the activities and logical messages you design to communicate with potential customers to persuade them to buy from you. Some of these activities may include: 1- [...]

The HR policies and procedures manual and employee handbook form the backbone of an organization. These documents consist of all the details regarding the treatment to be given to the employees in the organization and help the employees in recognizing the culture of the organization. The HR policies and procedures manual is compiled first and thereafter the employee handbook is prepared in conjunction with the prevailing policies and procedures as [...]

Your business may need to get information from both potential and existing customers. This information is useful to help you create products or experiences that satisfies their needs and wants. This can be achieved through market research. Market research can be done by employing both quantitative market research techniques like customer surveys and qualitative methods, such in-depth interviews and focus groups. Market research is always the first step of any [...]

A purchase funnel (a.k.a sales funnel) denotes the process through which you lead the prospect through a path to a purchase. A sales funnel has four distinct but interlinked stages which include: Awareness Interest Desires Action 1 - Awareness At this stage your company makes an effort to reach out to as many prospects as possible. This may be through social media channels, TV ads etc. The reach of the [...]

Introduction Financial Literacy means having the knowledge, skills and confidence to manage money well. One may also say that financial literacy is a process through which an individual (or a family) gains a basic understanding of banking, savings, and the importance of good credit. Knowledge and skills to manage personal money is very important in every economy for all categories of income earners to be able to make the right [...]

Money is scarce and that’s what makes it valuable. For as long as you don’t have a money-bearing tree in your backyard or a magic lamp that produces money when you ask for it, then it is time for you to be careful with your earnings. Otherwise, you risk being like me who wished it rained money at our home. Just like other successful people, you must make tough choices [...]

A goal without a plan is as simple as making a wish and just like you know if wishes were horses, even beggars would ride. It is important for you to make plans to achieve your financial goals. My young friend Tim is 26 years and has just graduated with a bachelor of information technology degree. He is currently working as a back-office IT engineer at a government citizen resource [...]

Setting financial goals requires you to first get the right financial literacy. Where do you want to go? In other words, do you have a personal development plan that guides you on what you would like to achieve from life? Do you think it is important to have goals? Sometimes you can feel overwhelmed by the day-to-day responsibilities that you forego thinking about goals. A few years ago, my neighbor’s [...]

Business associations have always been known to bring together business owners from a specific area or all the corners of the country. These may range from national associations to those that encompass businesses in individual sectors, districts, counties, cities, or neighborhoods. It doesn’t matter what the scope is but any business association can provide several benefits to businesses who pay subscription fees. Membership into a business association or a professional [...]

Collective bargaining is the process of negotiation that takes place between Trade Unions (Labor unions) and Employers. Representation by employers in most cases is by management who may come along with Board members in certain organizations. Collective bargaining takes place in respect of the terms and conditions of employment of employees such as remunerations, working conditions, grievance handling procedures, and the rights and responsibilities of trade unions. In Uganda, this [...]