Effective Ways to Overcome Burnout

When you have experienced a long bout of stress, whether on your job or in your home environment, it is expected you will suffer from burnout. This is the point where you become almost numb to your situation. You lose the drive to even get up and try to complete your daily tasks.

Life looks bleak, and you may not see a way for things to ever change. Many people who suffer from burnout may give up on their jobs and their relationships out of a feeling of hopelessness. When you feel that burnout is becoming a problem, you need to focus on getting the support you need to recover, before an absolute breakdown occurs.

Stress vs Burnout

When a person is stressed, they become anxious and try to figure a way to complete a number of tasks that may seem overwhelming. Burnout is well beyond the severe stress level. It is the phase where a person seems to give up. They go through the motions of daily life, but are mentally detached from people and activities. Burnout is the point at which continual high levels of stress have exhausted a person mentally to the point where they have no motivation to go on.

Overcome Burnout

There are a number of ways to overcome burnout. These include but are not limited to:

  • Change jobs — if it is your job that is causing the problem. A fresh environment may do the trick. If this is not possible, maybe talking with your superior about changing some aspect of your job will help.
  • Take time off from work, if you have vacation days coming or sick days. You may find taking a vacation will help shake the feeling out of your mind. It will give you the time to rejuvenate and rest.
  • Talk to a friend about how you feel. Keeping everything to yourself will only make things worse. You may find it helpful to consult a therapist or counselor for assistance.
  • Take Modafinil – a prescriptive, no side effect drug that will help boost your overall well-being. It improves your brain function and helps you deal with sleeping disorder which add to the stress you are undergoing.
  • Exercise and get your body moving even just 30 minutes a day will help you feel better. Practice deep breathing regularly to calm yourself and relax.
  • Do something that you enjoy. Even if it is a small thing, sometimes doing something for yourself, as others take so much from you, can really help turn things around.

Whether your burnout is being caused by too much to do at work or at home, getting support from family or friends will help.

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Why People Leave Cushy Corporate Jobs for the Unknown of a Startup?

Let’s face it, corporate jobs have a lot to offer. There’s job security, the promise of internal promotion and not to mention the robust benefits. And while many find that holding down a corporate job has it’s advantages, others opt to leave a cushy corporate for the uncertainty of the startup high.

Others may decide to leave their corporate jobs in order to join a startup. Those who do typically have many reasons for doing so but in general, many do so in pursuit of the same goals. Such goals may include the desire to fully utilize all of their talents completely, the opportunity to enter a new field and develop effective leadership skills, or the chance to potentially greatly increase their personal net worth.

A career shift of any kind can be the ideal way for any person to explore their previously underused talents. For instance, they can bring their expertise to the table and offer tips for SaaS companies and startups. Someone who truly loves to cook may want to join a startup that is centered around providing people with access to high quality meals.

A business person who likes to use technology such as a conference call may want to work with a new company that is built around providing their customers with access to such networks. The ideal fit between a startup and a person can truly help that person be happy both at work and during their leisure time. Many startups allow their employees and top executives more freedom to pursue goals in nontraditional ways than are often found in corporate culture. This kind of freedom can be highly appealing to those who may be tiring of corporate routines.

Another aspect of entering a startup at the ground floor that many potential employees find quite exciting is looking at an old field from a new angle. Someone at a standard corporation may feel constrained by pre-existing procedures or that workplace relationships have gone stale. They may also feel that they have hit a career plateau with their old company and may not be considered for important promotions anymore.

Joining a startup can help them shake off any preconceptions that others may have of their work as well help provide the employee with a new shot at promotion and new responsibilities that are suited for their talents, background and prior training. A fresh start can be highly appealing even when it means the employee may need to change jobs or relocate somewhere else.

Leaving a pleasant corporate job can also mean the chance to earn more money. Many companies may not offer the kind of compensation that an employee would prefer. While a startup poses certain risks that may not do well in the long run, those who have worked for a long time in the standard corporate world may have been able to build up a significant nest egg that enables them to easily weather any potential downturns in the new startups including potential layoffs. The new company may offer them significantly better compensation including a higher overall salary, a finer benefits package and the chance to earn even more money should the company eventually plan to go public.

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How to Improve Your Company and Employee Morale

There are many ways that you can improve your sales and increase your profit margin. You can hire great people, reduce your overhead, outsource when needed, etc. Chief among all of these tricks and tips, though, is making sure that employee morale at your company stays high. Studies have proven over and over again that happy employees are more productive employees. Here are some techniques that you can use to boost morale:

Food and Beverages

It sounds like a silly idea, but feeding your employees and having beverages readily available both keeps your employees happy and improves their productivity (productivity that is lost when they have to leave the building to refill their coffee or get another soda). The easiest way to do this is to outsource the provisions to another company. This doesn’t have to mean having expensive catered meals every day! Hiring a company to keep your kitchen stocked and functional can just as easily be done by a food services company. For example, Aramark Refreshments provides coffee, snacks, and more to companies of all sizes.

PRO TIP: Make sure you have healthy food and beverage options like fruit, veggies, bottled water, etc in addition to the more traditional cookies, chips, soda, etc.

Allow Telecommuting

Companies that allow their employees to work from home at least part of the time don’t just have happier employees, they have more productive employees. Allowing telecommuting reduces the amount of time people have to take off from work when they are ill or need to look after their children. It is also helpful for the introverted who might be easily distracted or worn down by an otherwise social office environment. And, thanks to tools like Slack, Skype, etc. collaborating while telecommuting is easier than ever.

Provide Benefits

Offer your employees full benefits packages. This means offering dental and vision coverage in addition to a good health plan. Other benefits can include access to company vehicles during work hours (reducing their financial burden for gas), providing daycare to working parents, and unlimited sick and vacation hours. That might sound counterintuitive, but research shows that people who don’t have to worry about “using up” their sick and vacation leave are more responsible, productive and take less sick and vacation time on average than those who have a “use it or lose it” policy.

Reward Often

While it is true that there are competitive people out there who respond well to healthy in-office rivalries and negative feedback, most people are more inclined to thrive when they are praised and rewarded for their hard work and effort. We all love getting gold stars, right? Make sure that you tell your people how great they are and compliment them on the projects that are going well. Provide small rewards and thank-you gifts after stressful projects are completed to show your appreciation. Even a simple thank you card with a short note goes a long way toward keeping a team’s spirits up.

Social Time Outside of Work

Encourage your employees to spend time together outside of work hours. Being able to spend time together in a casual environment can foster bonding and improve communication between team members. Sponsor a regular happy hour at a nearby pub. Take everybody out to lunch. Throw holiday parties off site. Sponsor a weekend getaway. There are lots of big and small budget ideas that can help get employees together even when they aren’t working.

There are a lot of great methods you can use to keep your company morale high and, by extension, lift productivity rates. These are just a few of them. What are some of the methods that have worked well in your company?

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How to Set up an LLC

Starting out in business can be an exciting but terrifying time – you’ll need to take calculated risks but not ones that could put your personal assets at risk if the worst should happen. Setting up a limited liability company (LLC) could be the way forward.

Advantages of setting up an LLC

There are many advantages to setting up a limited liability company, here are some of the main ones:

  • Limited risk – shareholders have limited or capped liability for the debts of the business. This gives you more freedom to take those calculated risks without the risk of losing your personal assets if things don’t go according to plan.If, on the other hand, you are a sole trader or a partnership you may have unlimited personal liability which means you could potentially lose everything, including your house.
  • Identity – the business will have its own legal identity, meaning third parties deal with the ‘company’ as opposed to individuals and shareholders. This not only means the company can outlive its owners, but over time it can have a succession directors and shareholders if necessary. And this can offer a better feeling of job security for employees than other structures.
  • Simple set-up – setting up an LLC is no longer a matter of waiting weeks while Companies House processes the paperwork as the whole thing can now be done online in a couple of hours.
  • Tax benefits – whereas sole traders and partnerships pay income tax, companies pay Corporation Tax, which is usually set at a lower rate. A company can also pay dividends to its shareholders and so you can choose the most cost-effective mix of salary and dividends.
    Similarly, the company can make pension contributions for employees, in which case it can gain Corporation Tax relief against these contributions. Always take professional tax advice before choosing which route to go down.
  • Entry and exit strategy – an LLC can be set up even if it’s not yet trading, which can be a good option if you’ve a business idea you want to name and register before you have the capital to set it up. And registering the business as an LLC can also make it easier to sell on in the future. You may also be able to claim entrepreneur’s relief against capital gains tax when you come to sell up.

How to set up an LLC

If this sounds like a good fit for your business, you’ll want to know how to set up as an LLC. Here’s how to do just that in two simple steps…

  • Choose a name – once you’ve got your business plan in place, it’s time to think of a company name, and there are a few ground rules you’ll need to consider:
    • The name can’t be too similar to or the same as another company name.
    • It can’t be offensive or contain a sensitive word or expression unless permission is given.
    • It mustn’t suggest a link to any government or local authority.
    • You can find out more on company names at UK.
  • Form the company – With the name all sorted, it’s time to set up and register it. To do this you’ll need an address, at least one director, at least one shareholder, and details of the company’s shares and the rights attached to them, also known as a ‘statement of capital’.Furthermore, you’ll need the agreement of all the initial shareholders to set up the company, this is known as a ‘memorandum of association’, and written rules of how the company is run, known as ‘articles of association’.With all this in place, you can then register online with Companies House and you’ll need to register for Corporation Tax within three months of starting up.

With this all sorted, it’s advisable to appoint a qualified accountant or solicitor who understands the intricacies of HMRC and PAYE to look after the books and the payroll. Once that’s in place, it’s over to you to make a success of things. Good luck!

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Ocean Survivor is Overall Winner of InterTradeIreland Seedcorn 2015

Ocean Survivor was named the Overall Winner of InterTradeIreland’s Seedcorn competition, winning a cash prize of €100,000 at the grand final held recently at Clontarf Castle.  The other main winner was Dublin company, SiriusXT who won the Best Early Stage Company Category award and a cash prize of €50,000.

About the competition

The Seedcorn competition is the island’s biggest business competition for new start and early stage companies and is aimed at companies with a new funding requirement. It has an overall cash prize fund of €280,000, and does not involve taking any equity stake.

The Seedcorn competition imitates the real life investment process providing companies with the opportunity to put their business idea to the test and to ensure that it is investor- ready and stands up to external scrutiny.

About Ocean Survivor

Overall winner, Ocean Survivor, is based at the University of Limerick.  The company manufactures a range of safety equipment aimed primarily at the off-shore oil industry. Ocean Survivor is currently developing a simple to use technology that mitigates the effects of hypothermia, while promoting comfort and mental well-being in a survival situation.

Following its win, Ocean Survivor plans to invest the prize money in securing the necessary trials, standards and personnel required to bring its product to market as soon as possible.

About SiriusXT

Best Early Stage Conmpany winner, University College Dublin (UCD) spin-out, SiriusXT, has spent eight years developing the technology for its soft x-ray microscope called SXT.  SXT is the first soft x-ray microscope of its kind in the world; it is a benchtop system that allows researchers to produce images in their own labs. Their product takes a powerful laser to make a little fireball as hot as the centre of the sun and about a tenth of the width of a human hair in diameter. This fireball produces a kind of light that allows them to illuminate single cells or tissue samples and produce beautiful 3D images of cells that cannot be produced any other way.

The images reveal in unprecedented detail the inner workings of life, drugs and disease on a cellular scale. The light sources that have been used to pioneer the technique are the size of a football stadium and cost over €250 million. Their light source will fit on a small table, and will let disease and drug researchers see changes in cells with a tool they can easily fit into their microscopy labs.

Success for Regional Finalists

Six additional companies walked away from the competition with a €20,000 cash prize, after they were recognised as the regional winners in the Best Early Stage Company and Best New Start Company categories.  These were KillBiller, Aphix Software, Kong Digital and Rendicity, which are based in Ireland and Northern Ireland companies, Modern Democracy and Photonics Measurements.

Seecdcorn Support

To date, InterTradeIreland has supported over 2,151 enterprising companies through the Seedcorn process. With €197 million in new equity being raised by the companies who have reached the regional finals stage of the Seedcorn competition over the past 12 years, the competition has a strong track record of supporting early business start-ups to become investor ready.

Further details are available on www.intertradeireland.com/seedcorn.

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Bizimply Wins the Web Summit 2015

Dublin-based tech startup Bizimply is delighted to announce that it is the winner of both of the top startup prizes at this year’s Web Summit! The company was awarded first prize in the 2015 ESB Spark of Genius Award on the Marketing Stage at midday, before being announced the overall winner of the Audi Pitch Competition on the main Centre Stage later in the afternoon on Thursday 5th November – the final day of the Web Summit.

This is the first time that the same company has won both of these accolades, marking Bizimply out as one of the world’s hottest tech startups.

Bizimply is a cloud-based software-as-a-service company, providing workforce management software to businesses with hourly paid employees. Bizimply was founded by Gerard Forde (Cork), Norman Hewson (Wicklow) and Mikey Cannon (Galway). The company’s suite of tools allows customers to manage their employee scheduling and time & attendance, all within one easy-to-use interface, reducing time spent by management on these tasks from hours to minutes, leaving these managers free to focus on growing their business out on the shop floor, rather than being stuck in an office working on admin.

Having come out of beta at the end of 2014, Bizimply is now used at hundreds of locations across 11 countries in restaurants, cafés, bars, hotels and retailers, as well as businesses in the childcare, manufacturing, beauty and healthcare sectors. The company is now set to scale, focusing on sales into the UK and US markets over the next 12-18 months.

Lear more here.

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The 3 Risks of Not Making Your E-Commerce Site Secure

According to the FBI, preventing computer fraud, network intrusions and identify theft are the key priorities of their Cyber Crime branch. Cyber-crime is on the rise as more consumers rely on the Internet and mobile technology to do things like shopping, banking and investing. As illustrated below, insecure e-commerce sites will result in serious risks and financial losses.

Vulnerability to Hackers

Everyone is aware that websites, networks and email accounts are vulnerable to hacking attacks. However, more and more consumers are primarily accessing the Internet through their smart phones. As a result, hackers are taking advantage of the lack of mobile security technology standards to target smart phones. According to Computer Weekly, Blue Coat Systems’ research shows that mobile attacks are becoming more common and malicious. For example, one of the most infamously popular methods is cyber-blackmail, when mobile ransomware penetrates and takes over a user’s phone. In order to unlock their phone, the user is required to pay money or divulge personal information. In addition to this, spyware is the second most popular malware program. After it surreptitiously installs itself on the user’s phone, spyware programs will monitor online habits, behaviors and preferences. Therefore, online consumers are naturally apprehensive about e-commerce sites that appear suspicious. When they arrive at the check-out page, they may not end up purchasing because they aren’t sure if credit card information will be safe. The best way to overcome this problem is through having well-recognized security certifications that will dispel any consumer concerns over financial and identity theft. For example, a Secure Sockets Layer (SSL) will encrypt consumer information the moment it’s entered on the website. In order to raise consumer awareness, be sure to provide visual clues and colored icons that alert online consumers when they are in a secure or insure part of the website.

Data Breaches

According to technology magazine Wired, mobile giant T-Mobile recently suffered one of the biggest data breaches in business history. T-Mobile had contracted with credit rating agency Experian to perform credit checks on potential customers. However, savvy hackers stole the personal information of approximately 15 million people. This included basic information, such as names and birthdays, and encrypted sensitive information, such as social security and drivers’ license numbers. While there was no financial or banking information, there is still plenty of information for cyber-criminal to commit identity fraud. Online identity theft is the biggest risk of unsecure e-commerce sites. Consider the fact that online consumers must submit both personal and financial information in order to make a purchase. Therefore, an unsecure site is a gold mine for unscrupulous hackers to target. After stealing the personal data, they can sell every victim’s personal information for anywhere from 50 to 100 dollars through underground, online black markets. Once dishonest individuals obtain this information, they can do anything from open a mortgage to apply for credit cards.

Business Interruptions 

As mentioned above, hackers that breach websites can steal information for personal gain. However, as a result of this, customers and the public will lose confidence in the company. For example, in just one night, T-Mobile lost the confidence of 15 million current and potential customers. Assuredly, there will be millions of potential customers who will avoid doing business with T-Mobile in the future. Consequently, insecure e-commerce sites may result in a serious PR debacle that will need the expert assistance of a costly reputation management to restore consumer and investor confidence. 

Keep in mind that a massive data breach or loss of consumer confidence over insecure websites will disrupt business, drive customers away and reduce revenue. There may be other unforeseen financial costs, such as legal fees or IPR lawsuits. There may also be other problems, such as strained partner relationships or government regulatory body investigations.

In summary, an insecure e-commerce site is a recipe for PR, operational and financial disaster. Companies can minimize these risks through following standard online security protocols, investing in cutting edge security programs and incorporating online risk management into executive strategic planning.

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Starting A Business Abroad

The bureaucracy associated with starting a business abroad is shocking and is enough to deter even the most confident entrepreneur. European countries such as France, where many Brits now call home, is regarded as a red tape jungle and can be quite difficult to establish a business due to the amount of paperwork involved. However, having said that, Europe is traditionally a country of small businesses and individual traders where the economic philosophy actually encourages and even nurtures their creation.

Things to Consider

It’s often wise to work for someone else in the same line of business in order to gain experience, rather than jump in at the deep end. Always thoroughly investigate an existing or proposed business before investing any money. As any expert can tell you, an overseas business venture is not for amateur entrepreneurs, particularly amateurs who don’t speak the language! You should also take into consideration the culture of your host country and the prospect of increased business travel and time away from family and friends.

Buying an Existing Business

It’s much easier to buy an existing business abroad than start a new one. The paperwork for taking over an existing business is also simpler although still complex. If you plan to buy a business, obtain an independent valuation and employ an accountant to audit the books. Never sign anything you don’t understand completely; even if you think you understand it, you should still obtain unbiased professional advice.

Establishing your Business

Most people are far too optimistic about the prospects of a new business abroad and over-estimate income levels. Be realistic or even pessimistic when estimating your income. While hoping for the best you should plan for the worst and have sufficient funds to last until you’re established. New projects are rarely if ever completed within budget and you need to ensure that you have sufficient working capital and can survive until a business takes off.

Location

The location for a business is even more important than the location for a home. Depending on the type of business, you may need access to major air, road and rail links or be located in a popular tourist area. Local plans regarding communications, industry and major building developments, e.g. housing complexes and new shopping, may also be important.

Employees

Hiring employees shouldn’t be taken lightly abroad and must be taken into account before starting a business. In France for example, you enter into an employment contract under French labour law and employees enjoy extensive rights. It’s also very expensive to hire employees, as you must pay 40 to 60% of salaries in social security contributions. You may even want to give preference to those who speak English depending on the type of business you intend to own.

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The Personal Touch: Why Direct Mail Marketing Still Rules in the Digital Age

When everyone has access to their email in the palm of their hand at all times, does sending out physical marketing materials in the form of brochures, letters, postcards and catalogs matter anymore? It tends to come as a surprise to many that direct mail, as this marketing approach is known, continues to thrive.

While many marketing gurus have predicted the fading away of direct mail, these materials bring clear advantages to the marketing efforts of businesses both large and small, ones that are simply not possible with email. One of the most noticeable benefits is that unlike email that often ends up in spam folders or that simply gets lost among hundreds of other marketing email, brochures and catalogs usually do make their way into the hands of most recipients, and they are not easy to get rid of. Marketing materials, once they arrive in a recipient’s home or office, float around for days, which means that unlike email, they stay active for an impressive length of time.

Direct mail can be effective in many other ways, as well. 

To begin, people aren’t tired of direct mail at this point 

Years ago, when people received bunches of direct mail, it was dismissed as junk. Today, with most companies having switched to email and other forms of digital marketing, most consumers and b2b customers have a problem with it.

It’s important for marketers to take note of the change. Most people don’t even look at the marketing emails that they get. On the other hand, studies by the US postal service show that three out of four consumers will look at physical mail at least once when they receive it whether the open the envelope or not. Many direct mail marketers in printing envelopes with the most important part of their message on the outside to make sure that they do get their message across.

Direct mail gets the undivided attention of consumers

When people look at their email, they usually have many other things going on — other tabs, Twitter and Facebook notifications, and so on, all on the same screen. With email, then, it can be hard to get a consumer’s undivided attention. It’s different with physical mail — presented on a medium that is clearly distinct from the electronic screens that display distractions, it tends to hold consumers attention better. To any marketer attempting to convert someone through the force of their persuasiveness or through the personal touch, it’s likely to go through much better with physical materials.

Email comes with a limited bag of tricks 

If you want to show your email recipients the results of a study, letters of appreciation by happy customers and so on, it can be difficult to do with anything other than attachments or links; unfortunately, these methods tend to make people suspicious. With direct mail, on the other hand, you can attach anything you want. Studies show that the fatter a packet, the more trustworthy it is seen to be.

There’s far more versatility with direct mail 

With email, no matter how much effort you put into its design, all you get to attract the recipient was at first is a few words on the subject line. Not so with direct mail. From envelope color and shape to the blurb that you put on the envelope and the freebies that you get to stuff inside, there are so many choices they can help you stand out. You can even go with expensive scents and the use of high-quality paper. Direct mail is simply easier for dramatic effect.

Direct mail does get results 

According to research by the Direct Marketing Association, email tends to do with a response rate of barely 0.1%; in other words, for every 1,000 emails sent out, only one actually elicits some form of response. Direct mail on the other hand, gets a 3.4% response rate. It is 34 times as effective. It is clearly the superior medium.

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