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Five DOs and Don’ts in Running a Small Business Company Successfully

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Small Business  is the most popular business to be started by Entrepreneurs around the world . Every year   thousands of Entrepreneurs turn their dream businesses into reality. Some will go with Venture Capital , Some start Solo Flight and Some may be nurtured by  Startup Incubators and Accelerators by providing Seed funding and Training the Small Business Team to enter the markets in a grown up company style with Know how about the Operational, Sales , Marketing and planning  technicians and Market Research to tailor the product sand services as per the demand of the customers .

The Demand Pull Startups should have enough resources and workforce to cater the needs of the Market . Let me share with you the Five Dos and Don’ts  in running a  Small Business Company Successfully.These DOs and Don’ts are instrumental in making your Small Business Company Successful .

DOS FOR  SMALL BUSINESS COMPANY SUCCESS

1. Always  deliver the Service or Manufacture the Products  Keeping in view the demands of the Market and level competitors already flocking the Market .Market Study , innovation  and Standard adherence  will lead to Success.

2. Always  Test and Try something which is either manufactured , Produced or any service being offered so that you may not go on losing the Customers Trust due substandard Product or service . Always Keep check on Quality and Standard.

3. Always  Deliver  the Products or Promised  work  either  Before  or on the Promised date and time so that you may not break the trust .Delivery on time  will also boost your Organizations  Name and  the customer Feedback will also attract the prospective customers to avail your service or shop your products.

4. Always take care of Prices since Prices are raised as per the material or demand of the service  . If you raise your prices for Products or services  abruptly without taking into consideration of the competitor price then their chances that your sales graph may fall Downwards  and at the same time your Profits will also fall.

5.Always hire the most efficient and experienced Staff as  amateur  Staff will require on job training to work  efficiently since Knowledge , Expertise and Training will increase the efficient of the staff . Always run some  staff promotions ,sales targets and Prizes Salary Bonuses or Tours  if they achieve some remarkable landmark . This will increase  the Staff interest and at the same time increase internal Staff Competition for targets .

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Don’ts for Small Business Company Success

1.Don’t Spend Lavishly :Finance is considered the Soul of  a company and  you need to take care in spending the Funds so that you may not face some financial constraints in running the Small Business Company Affairs . Don’t over spend  on Company Operational work  rather you should  live within the allocated budget and Funds available with the bank .

2.Don’t  Hire in haste:Hiring is the most important step for those Startups who are already running with skeleton staff . You need to fill the non-supervisory position on urgent basis but be careful in filling the key management , Administration , Financial or Sales Position which are the real worth of the company.

3.Don’t Compromise :  Compromise on the Quality ,Standard or Price  may lead to your Administrative failure since if the customers started complaining about your service such as Content writing , SEO , Web Design & Development , Networking , Telecommunication , Wireless Networking etc , you will have to pay huge price in rebuilding the customer Trust and confidence . Compromise may affect your brand life Cycle as well.

4.Don’t break the Financial Trust :If you borrow some amount from the bank or received orders from the customers along with the payment then you should immediately process the promised service or product or repay the amount which was  borrowed from the bank . If the Product or Service is out of Stock or not available then refund the amount to the customer immediate as per the payment option. This will show your responsibility and fairness in financial dealing.

5.Don’t Pay late : This is the most important for the company standards and level that you should make all the payments such Salaries, Bonuses , Perks , Utility Bills , Taxes and Rent etc on time so that people may not be demanding the same repeatedly . There are several Startup companies which pay their Staff on weekly basis, Hourly basis or  Monthly basis . It is up to you or Staff Demand whether they want to be paid on weekly, hourly or Monthly basis. Most of the Companies make mass payments on the final working day .

Digital

WHATSAPP Privacy Concerns Affecting Public Data -MOIT&T Pakistan

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Reference to on-going news threads by National Media and social media platforms regarding change in privacy terms & conditions of WhatsApp, Ministry of IT & Telecom is monitoring the current developments and clarifications provided by Facebook Inc. in this regard.

It is brought to notice that subject changes in privacy are applicable on WhatsApp business account only, while regular non-business/ individual profiles/ accounts are not affected.   

MOIT&T would like to emphasize here to all such digital social media platforms including WhatsApp administration to adhere by privacy rights of citizens of Pakistan. In this regard, all such digital platforms need to strengthen their engagements with the Government of Pakistan so that concerns of General Public and businesses can be well addressed by all means.

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SadaPay to launch e-money services in Pakistan after Green Signal from SBP

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SadaPay has announced that it has been granted the in-principle approval by the State Bank of Pakistan (SBP) for an Electronic Money Institution (EMI) license. This approval allows SadaPay to ready its operations for the pilot phase, during which the digital wallet will be available on a limited scale, under supervision of the regulator. 

The startup is founded by American serial entrepreneur Brandon Timinsky, who ventured to Pakistan after his last startup in the US was acquired. Over the last year, Timinsky has assembled a team of banking veterans, liaised with the regulatory authorities, and built the foundation for a “digital first” financial institution in Pakistan. Dr. Waqar Masood Khan, Pakistan’s former Finance Secretary, has joined SadaPay as Chairman of the Board.

Pakistan is now the 5th most populous country in the world, with over 76 million 3G/4G subscribers and nearly 1 million new smartphones users coming online every month. In light of the COVID-19 pandemic, internet adoption is only accelerating and more people turn to digital solutions for everyday payments. This presents a tremendous opportunity for SadaPay not only in Pakistan, but also a number of other regional markets that the team hopes to expand to. 

“Sada” translates to “simple” in both Urdu and Arabic. SadaPay’s mission is to do away with the cost and complexities of traditional banking through their simplified digital-first experience. SadaPay offers a smartphone-based digital wallet accompanied by a free Mastercard debit card.

As soon as a SadaPay account is activated, a virtual debit card is provisioned for immediate use. Also, users can perform free and instant transfers to any bank in Pakistan, and withdraw cash from all of the 14,500+ domestic ATMs with no fees (3x per month). Furthermore, users can also load their account with cash at any of 30,000+ retail locations across the country.  

Speaking about the news on the approval, Brandon stated “It’s really amazing to see how committed the State Bank of Pakistan is to adapting to changes in consumer behavior and advances in technology. In the last few months alone, we’ve witnessed tremendous progress by SBP with the release of a number of new regulations that are certain to make an incredible impact on Pakistan’s economy by catalyzing the digitization of its financial system. We’re also very grateful for the support we’ve received from the Bank of Punjab and Mastercard, which will certainly spur our journey towards rapidly expanding financial inclusion in the country”

BRANDON TIMINSKY, FOUNDER OF SADAPAY

Speaking on the occasion, Dr. Waqar said “The role the Central Bank is playing in laying the foundations of a broad-based and user friendly digital payment system in Pakistan is laudable. These efforts have gained momentum since last July. Pakistan would soon be a leading country in digitizing its payment system and SadaPay would play a prominent role to achieve this goal”.

DR. WAQAR MASOOD KHAN, CHAIRMAN OF SADAPAY

Early access to SadaPay will be available for those who have signed up for the waitlist through the website; www.sadapay.pk. SadaPay also has a very feedback-centric approach to their product development roadmap, and they’re also welcoming suggestions via email, hello@sadapay.pk.

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Covid-19

Techtools : Apple and Google want to turn your phone into a Covid-tracking machine

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Just when you were wondering why the world’s biggest tech companies weren’t doing more to fight the coronavirus pandemic, Apple and Google made a big announcement: They are joining forces to build an opt-in contact-tracing tool using Bluetooth technology that could help public health officials track the spread of Covid-19, the disease caused by the novel coronavirus. The new tool brings with it not only hope for a quicker end to the pandemic, but also a host of privacy and security concerns.

The contact-tracing tool Apple and Google want to create would have your smartphone log when you’ve come into close contact with other people. If one of those people later reports Covid-19 symptoms to a public health authority, your phone would send you an alert. It works a bit like exchanging contact information with everyone you meet, except everything is designed to be anonymous and automatic.

Instead of contact info, your smartphone will periodically exchange anonymized tracing keys with nearby devices. Both devices maintain a list of the keys they’ve collected on a cloud server, and when one person reports an infection, they have the option of sending an alert to people they’ve recently been in contact with. That alert will share information for what those people should do next.

Those are the broad strokes of what’s sure to be a very complex public-health-focused surveillance system. It represents an unprecedented partnership between two competing tech giants, one that could forever change the way our devices talk to each other.

(Apple and Google say that the new contact-tracing tool will work between iPhones and Android phones.) The Bluetooth-based approach also draws on beacon technology that’s already in use in retail environments — and is already a concern for privacy advocates. Understanding the privacy and security implications of this new coronavirus contact-tracing technology will take time, but based on what we know now, the tool will start rolling out soon.

How it’s built

An important thing to understand about this system is that Apple and Google aren’t doing this by themselves. The two companies are building a set of tools, known as an application programming interface (API), that lets iOS and Android apps communicate with each other.

In the first phase of the tool’s release, which will start around mid-May, Google and Apple will release the APIs so that public health authorities can then build apps that will be publicly available in the Apple App Store and Google Play Store. People can choose to download those apps — and again, these apps will let iPhones and Android phones talk to each other.

The tool’s second phase will roll out over the next several months. Apple and Google plan to build contact-tracing functionality into the operating systems of the phones themselves, which might sound a little tricky for folks who worry about being tracked without their consent. As the New York Times points out, by building the tool directly into the operating system, Apple and Google effectively ensure that the contact-tracing system can run 24 hours a day, rather than only when a particular app is open.

“This is a more robust solution than an API and would allow more individuals to participate, if they choose to opt in, as well as enable interaction with a broader ecosystem of apps and government health authorities,” the companies said in a press release. “Privacy, transparency, and consent are of utmost importance in this effort, and we look forward to building this functionality in consultation with interested stakeholders.”

To protect users’ privacy, Apple and Google say they will build this system while keeping people’s identities anonymous throughout the process. That’s because the companies say they won’t build a database of who has Covid-19 and whom they’ve been in contact with. Instead, they’ll store that information in temporary, anonymous cryptographic keys that refresh every 15 minutes. Meanwhile, all participation in contact tracing will be opt-in, and both companies say they plan to release regular reports on the program’s progress.

Apple and Google released technical specifications and other details about the project in press releases on Friday morning. Though it will take some time to sift through these details, the tool’s announcement has definitely caught the attention of privacy experts, who broadly seem hopeful about the anonymized, decentralized nature of what Apple and Google are building.

How it works, in theory

Which brings us back to how the tool might actually work. In their announcement, Apple and Google mapped out a hypothetical scenario that does a good job of explaining the broad strokes of the contact-tracing process. It involves two people named Alice and Bob.

Alice and Bob meet each other for the first time while sitting on a bench for a brief conversation. Because they’ve installed the new Apple and Google technology, their phones exchange anonymized tracing keys (think of these as contact info files with a unique identifier instead of a person’s contact info). These keys indicate that Alice and Bob have been in contact, and because they’ve opted in to the Apple and Google contact tracing system, this exchanging of keys happens automatically.

A few days later, Bob finds out he’s positively diagnosed with Covid-19, and he updates an app with that information. With Bob’s consent, the app then sends an alert to everyone with whom Bob exchanged keys in the last 14 days. Alice is one of these folks, so she gets a notification that she’s been in contact with someone who has Covid-19. The notification also includes information about what Alice should do next, like go get tested herself.

As captivating as these drawings are, they represent a complex marriage of technology and design. That doesn’t mean that the contact-tracing system can’t work as advertised, but there are, so far, an unknown number of caveats that will come with its potential success.

How privacy matters

In announcing this new initiative, both Apple and Google have stressed that users have to consent to participate in contact tracing, that the apps won’t collect personally identifiable information, and that people who test positive aren’t identified to anyone else. Still, organizations such as the American Civil Liberties Union (ACLU) have raised privacy concerns about such contact-tracing systems — which are already being widely used in other countries such as South Korea, China, and Singapore.

“To their credit, Apple and Google have announced an approach that appears to mitigate the worst privacy and centralization risks, but there is still room for improvement,” Jennifer Granick, ACLU surveillance and cybersecurity counsel, wrote in a public statement on Friday. “We will remain vigilant moving forward to make sure any contract tracing app remains voluntary and decentralized, and used only for public health purposes and only for the duration of this pandemic.”

And that’s another looming question: Just how long will Apple and Google leave these contact-tracing tools embedded in their mobile operating systems? After all, if this technology can be used to track who you’ve been in contact with, it seems possible that it could also be coopted for commercial purposes or even for government surveillance. As Bennett Cyphers, staff technologist at the Electronic Frontier Foundation, said to Recode, “We don’t want anything to be built into the OS that’s going to be turned on forever.”

There are also questions about the accuracy of Bluetooth. Some have worried that Bluetooth could yield false positive matches, though it’s not yet clear exactly how Apple and Google will implement the proximity features of Bluetooth LE technology. Others have raised concerns about the location accuracy of contact-tracing mobile apps in general. Furthermore, for the tool to be most effective, a plurality of people must opt in to using it. The big test of this project’s success will be how widespread the adoption of this contact-tracing tool becomes, and if that will be enough to impact the course of this pandemic’s trajectory significantly.

There’s still a lot we don’t know about how the Apple-Google tool will work in practice. We’ll learn more in the weeks to come, after the companies roll out the APIs and public health authorities start releasing contact-tracing apps. But regardless of potential drawbacks, this tool represents one of the most ambitious private-public partnerships in recent history. It’s the beginning of a new future where tech companies are injecting their resources into a public health crisis, not only leveraging their power in a tremendous way but also raising questions about how this power will change society for years to come.

Via_Vox

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