Find grants, funding and support programs from across government to help your business grow and succeed. When searching for funding in Outram Singapore, keep in mind that you’ll generally need to meet certain criteria to be eligible, and that aside from funding assistance, many programs can help your business by building your skills and knowledge.
In addition, the job search process can be mentally and emotionally challenging, not to mention the financial opportunity costs of not working in Outram is usually high.
Common scenarios include fresh graduates looking for their first full-time job; mature workers hoping to start a new phase of their career; or those who got retrenched and wish to find employment.
Unlike in the past, where people work for the same employer for the entire duration of their working lives, the working adults of today will find themselves in the market for a job much more often.
Sources of Business Finance
Contrary to what you are seeing in the press with the credit crunch and looming recession there is simply too much money in the World at the moment; too much capital seeking too few investment opportunities. Remember the 1930s depression created more Millionaires than in any other era (ever) and now will be no different. A large amount of high net worth individuals are seeking to diversify their portfolios away from traditional investments as a defensive hedge against stock market volatility. Historically and in times of recession the two best investment classes that have outperformed traditional markets have been commodities and private equity. So if there is so much capital available in the world today, why is it so difficult to locate the capital you need?
The most probable answer to your question is that the amounts you are seeking are way too small to tempt Venture Capitalists or Hedge fund managers. After all it is relative. If a VC has tens of millions of pounds to invest into private equity why invest into 100 or 200 start-up companies? Who could possibly manage and foresee all of these investments and entrepreneurs? Its hard enough to manage one sometimes! So relatively speaking, investing in you would most-likely prove cost-prohibitive for them even though arguably they would receive more value overall.
The Hunt - VCs vs Angels
Venture Capital firms are one way to raise a serious amount of capital but as you may imagine there are pitfalls. The main one being loss of equity far beyond the 51% mark. Further the final vote on 'the right of sale' will also most probably be a mandatory right for them. Since VCs main motivation is 'ROISAP' (return on investment soon as possible) VCs will always have a frantic desire to flip every deal as quickly as possible. And they will not care where that return comes from, yourself or an outside party as long as they receive a massive bonus for the risk and skill for what they have invested.
More appealing to an entrepreneur starting-up is to seek a business angel investor interested in the line of work you are involved in as they will either take an equity position and some level of debt (or typically a combination of the two) in exchange for their investment. They will also take a seat on your board of directors, which they will use as a platform to monitor their investment and to provide invaluable advice. Sometimes they can actually take an active role in the organization and get it kick started into high gear. This freedom can afford an organization the ability to swiftly hire key employees and develop its business model to the point where it is ready to seek larger scale, second-round financing at a much more reasonable cost-to-equity due to the proven track record within the organization.
Other benefits to the entrepreneur include access to the expertise and business networks that the angel investors may be involved with. In addition to this, the growing trend of angel investor syndicating means that an individual entrepreneur can raise significant capital (significantly above the £500K mark) in a single financing deal without the need to negotiate separately with each investor.
Venture capital money is not for the faint-hearted. Too often, it is only for the desperate - unless your desire is to build a business with an exit strategy in mind from day 1. There is nothing wrong with such a goal in the short term, as the returns can be staggering, but expect to make them many - many more millions than your side - that is if you even get that far. A great many other original creators have been squeezed out long before the 'D-day - big pay day'.
Angel investment therefore represents an invaluable source of alternative funding. And one that is far more attractive and realistic for a start-up entrepreneur. Benefits for both the Entrepreneur and the Angel can be great provided of course that the expectations are well drafted and thought out from day one and the funding agreement is structured to meet the demands of both sides.
The main difference between a business angel and a venture capitalist is that VC funding will come with legal agreements that will be inevitably always be Venture capitalist biased with terms that almost are utterly unfair and unjust, whereas, Angel investment will be far more flexible. It's not uncommon for some Angels to even shy away from using corporate solicitors when drafting agreements for funding. The reason being that if a high net worth individual should choose to invest in 8 - 10 companies, the total legal bill could turn out to be over £50,000.00 (assuming a lean estimation of £5K per company which is low!) - money that could be used to fund crucial working capital or further expansion.
Receiving successful venture capital funding can provide a lot more than just money to the start-up. They can bring a wealth of managerial talent and experience that can advise you on external growth and how to jump over major pitfalls.
This professional advice can be a massive boost for a young company looking for every competitive edge. Another major benefit of VC Capital is that their network of contacts could end up making all the difference in a successful exit (or not).
But always remember what being funded by a VC actually means. After they have invested millions into it and regardless of whether or not they actually hold a controlling interest in your company they will be in control of your organization and will have a lot of power over how the company runs and how they will get their money out. You will be forced to go down directions that you may not be too happy with.
More often then not, it's best for an entrepreneur to start up on their own or with the help of an Angel Investor (or syndicate if the investment requirement is too large to be funded by one individual). After running and evolving the business, the next best course of action is turn to VCs when you believe you are ready to take your company to the next level and will need a serious amount of capital to do so. Before even considering approaching a VC, you will have to demonstrate that you have a degree of success in your past, which is where the first round of your funding and management of your cash flow will come in handy.
When you do decide to approach venture capitalists and if by some miracle should they agree to back you, then it will be crucial on your part to seek-out the best legal advice that you can afford for the ensuing negotiations. One sentence or even a phrase within the initial contract can determine your success or failure. VCs are consummate professionals, and you will have to become one before playing in their league.
To support Singaporeans based in Outram in these aspects, here are the government grants and resources that you can utilize. These programs are administered by Workforce Singapore, a statutory board under the Ministry of Manpower.
A service excellence seminar will give you the competitive advantage you need to survive in a tough business climate. In today’s customer-oriented business environment, people skills are critical for personal and organizational success.
Likewise, a customer service excellence seminar gives you the skills you need to communicate professionalism, gain respect, enhance customer relationships and secure an overall competitive advantage through customer service excellence.
How you handle your customers can directly affect your individual goals as well as your team’s and company’s performance.
Sources of Business Finance
Putting together a procedures manual seems like it should be fairly straightforward, doesn't it? Frequently, however, procedures documentation projects stall or fail. In very simple situations, developing a procedures manual can be fairly straightforward, but many situations are not very simple.
Drawing upon our experiences as consultants specializing in the development of procedures manuals, this article outlines key strategies critical to the success of any procedures documentation project. How do we define success? A successful project is conducted efficiently and produces a valuable resource for the organization.
Understanding these key considerations will go a long way to ensuring that your procedures manual project is successful!
Strategy #1: Ensure Your Project Has an Owner (Excluding Yourself!)
Projects which lack an enthusiastic management sponsor or owner will not be successful. A procedures manual project needs a champion who can ensure that the project has the resources and commitment it needs. Discovering that support is inadequate midway through the project should be avoided. The project sponsor is also involved in signing off on key aspects of the project - so there should not be any surprises at the end of the project.
Strategy #2: Select a Methodology Before Project Kick-Off
Anyone who has not developed a procedures manual previously needs a methodology. The methodology governs the approach - what needs to be done, how, and the order in which stages are completed. Most of the data for the procedures will probably be collected either via research and/or directly from subject matter experts (SMEs). Unless the manual is being written by the SME, you'll need a robust data collection process.
What are the best ways to acquire a methodology and data collection process? Depending on your capabilities and experience, developing your own methodology and process may be an option. If not:
- Check with people in your organization who have successfully developed procedures documentation previously.
- Research books and/or courses on the subject.
- Engage a consultant as a guide. Consultants with demonstrated subject matter expertise and experience can provide guidance and project management resources, or deliver the entire procedures manual project.
Strategy #3: Clearly Define the Scope of the Project
Before you start a procedures manual project, you need to define the scope of the project - that is, what will be documented. The scope includes not only the process(es) and department(s) which will be covered, but also the level of detail required and whether policies, exhibits and related references will be incorporated.
What are the best ways to ensure the scope is defined at the beginning of the project?
- Understand and document the purpose and audience for the procedures documentation, and get sign-off by the project sponsor.
- Upon sign-off, mock up what the final procedures manual will look like, including sample procedures, and decide how exhibits and related policies, processes and information will be referenced.
- Review the mock-up with the project sponsor and key impacted stakeholders, and obtain their sign-offs.
Involving the project sponsor and key stakeholders in defining the approach at the start of the project helps to avoid problems later on - ensuring your project is efficient!
Strategy #4: Develop an Organizer and Template Prior to Data Collection
The organizer for the procedures manual is essentially its Table of Contents. The template for the manual determines the look and usability of the final document. While it may seem counter-intuitive, it's best to develop a good draft of the Table of Contents along with the template at the start of the procedures manual project. As you collect data, you populate the template with the data. This approach greatly speeds up the development process and the populated template becomes a tool for easily tracking missing data!
Strategy #5: Ensure Change Management Resources Are Available Post-Project
The value of the procedures manual as a resource for the organization will be short-lived and limited if the manual is not maintained. Effective change management of the manual requires dedicated resources and should be addressed at the beginning of the project to ensure that resources will be available. Effective change management includes assigning a procedures manual "owner" and establishing a process for ensuring updates are timely and are communicated to stakeholders. Today web-based systems are available which greatly facilitate the distribution of manuals to stakeholders and the management of changes.
Now that you have read through the strategies, it's probably clear that there's a common theme - the importance of planning your procedures manual project before you start writing the manual.
Who Should Attend ?
Thelearningtobefearless advocates that you belong to any of this you should consider attending such skill enhancement programs. Small business owners, customer service representatives, technical and support personnel, field service representatives, account managers, credit and billing specialists, as well as managers who want service excellence training.
How You Will Benefit ?
You would be able to deliver better, faster service, and increase customer satisfaction through a customer service excellence seminar. You will learn how to gain repeat business in Outram Singapore.
In addition to all this you should often check the Government jobs portal that aims to provide Singaporeans and Permanent Residents (PRs) with free job search service that matches them to jobs based on their relevant skills.