Challenges Faced by Nepali Women Entrepreneurs
Through vicarious experiences picked-up from books, mainstream media, and stories of women-counterparts, I thought I was aware of gender-based systematic oppression of our society and how they were preventing women from breaking the glass ceiling. But, only after months of research for a consulting assignment that dealt with devising decent self-employment opportunities for marginalized women of Nepal, I found myself closer to understanding challenges Nepali women entrepreneurs face.
For me, the starting point to understanding these challenges was to unlearn socio-cultural notions I had learnt till now. To look at the challenges from the vantage point of women who lived very different experiences than I did. I realized, to ensure fair economic participation of Nepalese women; it was vital to understand their delicate circumstances. The way they faced challenges from deep-rooted notions of patriarchy. Their unique socio-cultural and economic position. And, how any efforts made without considering these factors could push them to more vulnerable situations than before.
Understanding Socio-Economic Challenges Faced by Nepalese Women
Access to Finance
Funding is one of the biggest challenges faced by women who aspire to start their businesses. While finding investors to invest in a start-up is a defining challenge for any entrepreneur regardless of their gender. It is particularly tough for women to manage the initial investments to start a business.
For instance: The 2015 Constitution of Nepal has provisions ensuring equal rights to women to parental or inherited property. However, patriarchal practices, or traces of patriarchal traditions in the legal framework make it difficult for women to exercise their rights. Despite her right to property, woman per se still cannot, or would not want to compel her parents or spouse to transfer the property to her name.
Now, if a woman is seeking to innovate through entrepreneurship, without collateral and added social-cultural barriers, it becomes increasingly difficult for her to access loans from formal financial channels. In turn, she may have to either borrow from micro-finance institutions or informal lenders who charge the highest interest rates.
In our survey which included 112 women, for almost 80% of the women loan from relatives and family members was the only way to manage investments to start their businesses.
Poor Economic Condition and Family Responsibilities
When we imagine family members who are “unsupportive” of women running their own enterprises, we may instinctively think of a person who would prevent women from actively participating in economic activities. But, that is not the case. For many women finding economic independence is a vicious cycle. In our study, women who considered their family members to be unsupportive usually had low economic conditions. It was difficult for them to maintain day-to-day expenses, to pay for skill-development programs that would aid them in starting their own business, or to pay for transportation to attend such programs. Mere 7.27% had some personal savings to invest in starting their business.
On the other hand, women who considered their family members to be supportive, also claimed that busy involvement in household chores and family care prevented them from advancing in their careers. To some extent revealing that, women are so conditioned to societal norms like “they have to be primary caregivers and homemakers”, they find it difficult to recognize the structural challenges. Such socio-cultural mind-blocks prevent women from becoming successful entrepreneurs.
Essentially, challenges faced by women entrepreneurs are complex and require careful analysis and intervention mechanisms. We cannot design effective programs to empower women entrepreneurs without first researching in-depth on the support that would work for them, and the support that they need.
Lack of Exposure and Conventional Orientation
Women are not part of business networks that would assist them to find clients, partners, suppliers, or investors to grow their businesses. While their male-counterparts find it easy to socialize and build their social currency.
This is because women have historically had low exposure to an environment that would contribute to their growth. Firstly, our education system lags to equip students with critical entrepreneurial thinking. Secondly, when women do not get the opportunity to participate in networking events, workshops, and conferences it leads to a lack of practical knowledge and entrepreneurial aptitude required to run a business. While our society has progressed in recent decades where women have become more outgoing and outspoken, the social barriers that challenge women entrepreneurs can still be noticed at large and its impact can be further explored.
Naturally, even in our study, we discovered that women had more conventional orientations where they aspired to run businesses that sustained themselves and provided them with a steady income to support their families. Consciously or unconsciously, they lacked the ambition to scale-up their business and to excel in their careers. Primarily because they lacked confidence and the role models that would aspire them to take risks and to innovate.
Limited Mobility
Many women who wanted to start their own businesses had reservations about traveling for work. For some women, transportation cost was a determining factor that prevented them from traveling. Although, not found in this study, restrictions placed by family members can also lead to limited mobility among women. Family barriers can be hard to explore through survey studies as women are sensitive to responding to questions about their families and personal matters. However, the crux of the matter remains that inability and unwillingness to move limit entrepreneurial ventures that women could otherwise successfully undertake.
The views expressed in this article are personal experience and opinion of the author. The personal opinion and experience should not be considered professional opinion of Biruwa Advisors Pvt. Ltd.
An Entrepreneur’s Guide to Writing a Compelling Business Plan
As a management consulting company in Nepal, we receive a lot of queries regarding business plans. Most of these queries are initiated by entrepreneurs who are applying for a bank loan or are trying to present their business to potential partners. We are publishing this blog to guide entrepreneurs who do not require the extensive level of research and effort that we normally provide as part of our service. We hope this helps you document and present your business to your potential financial and other partners.
A Business Plan
A Business Plan describes what a business does and what it plans to accomplish in the near future. It communicates the company’s vision, provides an overview of the company’s marketing plan, operations, competitive landscape, as well as contains the company’s financial projection and analysis.
Most new business ventures use a business plan as a guiding road-map to move an enterprise forward consistently and purposefully. Yet, for many different stakeholders of a business, a business plan may serve many different purposes.
For instance, founders or entrepreneurs may primarily devise a Business plan to make a logical and objective blueprint of their business and its operations. After all, running a business requires considerable time and effort, and writing a realistic business plan allow founders to build the necessary groundwork to run a viable enterprise.
On the other hand, a business plan also serves to provide useful insight into business scope and strategies. Most often than not, potential partners, suppliers, and investors will refer to the company’s business plan to evaluate their decisions on whether or not to get on board with the company.
For example, in the Nepali Business context, for banks, a business plan is a pre-requisite to extend a business loan. Business ventures also follow a working structure when requesting a loan from financing institutions.
Saying this, as per the company’s requirement and need, a business plan may vary in length, but in principle, it will describe key details of business through combinations of the following six elements.
Business Overview
Business Overview gives key insights into a) Business Concept and b) Business’s Product line. The purpose of this section is to translate a business idea into a working concept. It should explain why the idea came into being and what the business intends to achieve and how.
For example, the founder may have noticed a trend in the market which may have prompted them to realize unrealized potential or need of the market.
The business concept should therefore briefly define the business’ product or service, its target segment, the delivery channel it will follow, and unique selling proposition to fulfill the identified gap in the market.
The business product line should define the product and to whom the product is being provided. Based on the product’s features, purpose and uniqueness the product can be classified into different categories or “product lines�?.
Market Analysis
The market analysis section is composed of three essential elements: Market Overview, Competitive Landscape, and Target Market.
The market overview section describes the industry that the business will enter. Based on the evidence, the reader should be able to determine types of players, the nature of the competition, barriers to entry, and space to gain a competitive advantage.
The competitive landscape delves deeper into the pit of the competition. It conducts detailed comparisons between the business venture’s products with its competitors in the industry. The comparisons are generally made in terms of price, packaging, product range, product quantity, marketing tactics, and existing strategic relationship with suppliers or retailers.
Most new business ventures do not have the means or resources to cater to an entire industry. Target Market slices the industry into a different segments based on say demography or location, and zooms into a particular segment or target market that the business will try to specifically appeal to. The business may also divide the target market into primary and secondary markets and devise strategies to most tactfully grab their attention.
To write an effective market analysis, founders must know industry trends and consumer behavior.
Marketing Strategy
The Marketing Strategy focuses on how a business will market and sell its products or services. The overall marketing strategy comprises of 4P’s: Product, Price, Promotion, and Place.
Defining 4P’s assists businesses to describe the positioning of their products. Meaning aspects of the promotion mix, pricing, and distribution strategy articulates how the business wants consumers to perceive its products.
When writing this section of a business plan, all four Ps must be consistent with each other, any inconsistencies can lead to dissonance in consumer’s perception of the brand. For example, if a business wants to sell an expensive international cuisine, the location and pricing strategies should also signal exclusivity.
Operations Plan
An Operations plan should provide a picture of how the entrepreneurs plan on running the company and how the product will be produced. While writing this section it is vital to strike a balance between providing adequate information and revealing too many details. To keep the information crisp, the section can be supported with diagrams of the production process or service blueprints.
Apart from this, the operation plan can briefly touch upon: which raw materials will be used and how they will be sourced, where it plans to establish its production or retail facilities, and identified Human Resource capability that it will need to run a business in full-scale.
Identifying administrative expenses and projecting target revenue is another crucial element that must be present in an operations plan. It should provide detailed insights into the total fixed cost, overheadexpenses, and the revenue it will need to earn to break-even. Similarly, all contingencies and risk factors must be accounted for before estimating the potential of business to generate profitability.
Investment Plan
Closely based on operations plans, the Investment plan quotes the amount that will need to set-up a business at different stages. The Quoted amount must be inclusive of the cost that is incurred in setting up a business facility and to sustain its operations for a certain period. The particulars under which investment will be made must be categorized and represented scientifically. The section should also highlight how the business intends to finance its investment.
Financial Projection and Analysis
Lastly, the plans that are developed so far in the above sections are translated and developed into quantitative and financial terms. The final section of a business plan comprises financial projection and analysis. It consists of the projected balance sheet, projected income statement, and projected cash flow statements. The assessment of whether the business is feasible or not as well as identification of the breakeven point and safety margins is covered in this section.
Writing a proper business plan is the first step to building a successful business. As a part of our Advisory Service, Biruwa Advisors holds a demonstrated expertise in writing a comprehensive business plan for its clients. As per the client’s requirements, we analyze the Business’s core products/activities, marketing, industrial environment, and financial feasibility to devise an appropriate business plan to meet our client’s needs.
Plastic Waste Management: Insights on Challenges of Recycling in Nepal
Fig: Recycled Plastic Value Chain
Notorious for being large scale pollutant, affecting wildlife habitat and human population alike, and plastic waste has become a key global concern in recent years. The critical environmental issue has alarmed multitude of stakeholders and has attracted attention of private enterprises.
Biruwa Advisors recently conducted a Value Chain Analysis on recycled plastic for World Vision International Nepal. In the study, we assessed the feasibility and sustainability of possible investment opportunities for private companies in the plastic waste management sector of Nepal. Part of this study investigated challenges that exists in the value chain of recycled plastic.
To examine the relevant process in the field of plastic waste management, and to gain better understanding on the subject – we interviewed important actors of industry who are trying to contribute to overall value chain.
Major Challenges of Recycling Plastic Waste
While conducting the research we discovered multiple challenges that exist at different stages of recycled plastic value chain. Some of those challenges are shared below:
1. Lack of Source Segregation Process
It is not a standard practice in Nepal to segregate waste at source. Household wastes are manually segregated after collection and before selling to manufacturers, up cyclers and retailers.
Segregating and storing waste after collection is a major challenge
Considering waste aggregators and waste suppliers have limited space, segregating and storing waste after collection becomes a major challenge. Lack of practices to segregate waste at sources adds a burden of additional processing cost to the businesses as well as the whole sector.
2. Dominance of Informal Sector and Informal Commercial Practices
Much of plastic waste recycling industry is dominated by informal sector. Although, few new actors are trying to formalize existing waste recycling industry by introducing globally recognized best practices, their efforts are being challenged by syndicates of informal sectors.
Efforts to introduce globally recognized practices are challenged by Syndicates of informal sector
While Informal sector also enjoy the advantages of not complying with both trade and waste treatment regulations. Formal enterprises have to take more steps to comply with regulations. For instance, formally established enterprises have to ensure fair treatment of collected waste, and adopt commercial trade practices like maintenance of VAT/Tax records. But, informally established enterprises, are not inclined to comply with such standards and practices. This is not only a Nepali reality but also a regional concern. A Strategic Analysis Report on Emerging Criminal Trends in the Global Plastic Waste Market since 2018, released by INTERPOL in 2020, emphasizes on illegal trade and illegal treatment of plastic wastes in Eastern European as well as South and South-East Asian countries.
3. Negative Social Perception towards Waste Management
Waste Management is a stigmatized area. Value chain actors bear the consequence of negative social perception towards waste management in Nepal. Generally, people lack a sense of ownership over waste that they produce, and the attitude impacts operation of overall waste management industry.
“We are facing difficulty in continuing our work since the land allocated for segregation could not be used due to complaints from the neighborhood.” – An interviewer shared.
For instance, value chain actors find it difficult to acquire land to collect and segregate waste. At the same time, the industry which is labor-intensive faces tremendous challenge in finding adequate supply of skilled labor who can implement professional practices in waste management activities.
4. Competition with Virgin Plastic
Recycled plastics are used as substitutes for virgin plastics. However, it is not as easy for suppliers to sell recycled plastics to manufacturers as parameters like pricing and quality influences the buying decision.
Price and Quality of Recycled Plastic influence Manufacturer’s buying decision
Price of plastic is linked to the price of petroleum. Manufacturers are price sensitive and switch to Virgin plastic when its prices are low.
Secondly, Manufacturers who produce plastic items have to adhere to certain quality standards. As it is difficult to provide the required level of quality in recycled plastic, manufacturers opt out to using virgin plastic to meet the quality standards that their company assures its customers of.
Despite seemingly complicated challenges, the value chain actors including suppliers, manufacturers and enablers have taken significant risk in Nepal. Their shared efforts are not only assisting in introducing globally accepted waste treatment and trading practices in Nepal, but is also starting new trends in the overall plastic waste management sector. We thank all of you for helping us during our study and for your contribution in developing the circular economy in Nepal.
Fighting an Infodemic
As the COVID-19 outbreak spreads and most aspects of our daily life come to a halt, organizations are compelled to enforce institutional changes to stay afloat based on the news and information circulating online. But, considering the proliferation of misinformation about COVID-19 – from outlandish remedies to speculation about government plans – decision-makers have a difficult time keeping track of accurate information for rational decisions resulting in an infodemic.
In the wake of this global pandemic, the urgency for organizations to find and communicate timely, factual, and credible information has taken on new resonance and the same is true for businesses and organizations in Nepal as well. Hence, we conducted online research to be aware of measures anyone can take to ascertain a level of reliability in the online information we come across. We are sharing these findings for the benefit of all organizations and team members inside and outside Nepal:
- Check the URL Most organizations have their names in URL. To check the primary source, the URL should usually match with the source cited in the information.
- Check if the title matches the rest of the article.
- Check the date and double-check the information against other news coverage.
- Check whether the information comes from the website of a familiar or respected institution that has a proven track record of reliability.
- Cross-check the organization’s logo used in the article with the logo on the official website.
- Check if the author is directly named in the byline and be wary of articles produced by anonymous authors.
- Check the author’s credentials and affiliations.
- Check if the information links back to credible sources and provides proof of claims.
- Look for sites that specialize in the kind of information you are seeking.
- Be careful if the article over encourages you to share.
At this pivotal time, Biruwa Advisors has been primarily relying on the announcements of international and national health organizations, specifically the World Health Organization and Ministry of Health and Population, coronanepal.org and top media outlets for our information.
As we mentioned earlier, we aggregated these pointers through online research. If you feel that some crucial points are missing or you have any comments, please email it to us at [email protected].
Nepal Trade Information Portal
Nepal Trade Information Portal (NTIP): Enhancing Trade Facilitation in Nepal
The Nepal Trade Information Portal (NTIP) was developed to comply with Article 1 of the WTO Trade Facilitation Agreement (TFA), aiming to capture, disseminate, and distribute essential trade information. Inspired by the World Bank Trade Portal Toolkit, NTIP serves as a single platform where a wide range of information related to importing into, exporting from, and transit through Nepal is readily accessible.
Originally piloted in Laos, this toolkit has been successfully implemented in several developing countries. Nepal launched its pilot version of the NTIP in September 2016 as part of efforts to support investment and trade facilitation within the country. The government officially launched the full Trade Information Portal in September 2019.
Funded by the World Bank and operated by the Trade and Export Promotion Centre (TEPC), the NTIP offers traders a user-friendly and comprehensive resource. It provides important regulatory and procedural details needed to navigate the complexities of importing and exporting. The portal’s mission is to enhance the predictability and transparency of Nepal’s trading laws and processes.
What Does the Nepal Trade Information Portal Include?
- An overview of procedures and required documentation for imports and exports
- Regulatory requirements specific to various commodities
- Information on the import-export transit process
- Guidance on obtaining necessary licenses or permits
- Details about government bodies responsible for imports and exports
- Trade data collected from relevant government sources
- Latest news and announcements related to trade
Benefits of the NTIP
By consolidating trade information in one accessible location, the portal offers significant advantages to traders and entrepreneurs. It supports trade promotion and empowers the business community by reducing the time needed for legal document preparation while ensuring compliance through transparent access to all relevant documents.
Moreover, the portal helps entrepreneurs explore new markets and provides practical guidance throughout the trading process. For added convenience, the portal features a frequently asked questions (FAQ) section addressing common queries related to trading with Nepal.
As a comprehensive one-stop window for trade information, the NTIP organizes guidelines and resources by topic, making it easy for users to find exactly what they need.
Building resilient businesses: Lessons from 2020
The past year has shown us that transitioning business models to adapt to the “new normal” was vital for survival during the COVID-19 pandemic. Now, as vaccines roll out and we enter a new phase, businesses are shifting focus toward recovery and continuity. Some activities may have changed irreversibly, while others will need restoration or revamping.
Looking back, change and adaptability were key factors in ensuring business longevity throughout 2020. But what does this next stage look like?
Many organizations have moved beyond crisis management and are now focused on recovery and business continuity. Here are four major approaches to reflect on that may help your business better adapt to ongoing risks in this dynamic environment.
1. Revisiting Business Plans
The first step might be revisiting your business plan. The COVID-19 pandemic drastically altered many aspects of the business environment, disrupting existing procedures, demand, and supply patterns.
Under these new conditions, many business ideas may no longer be relevant or may require significant revamping. It’s important to reconsider consumer behavior and preferences, pricing strategies, delivery and logistics, scale of operations, and more.
Planning and documenting these changes through an updated business plan can help pave a clear way forward.
2. Pivoting Service and Product Offerings
Alongside revisiting your business plan, the uncertainty of the current environment calls for backup plans to improve your chances of survival and growth. Having a Plan B—or even Plan C—can make a significant difference.
Because demand for particular services may fluctuate rapidly, exploring alternative offerings or expanding your current product or service range could ease your return to growth.
For example, during the lockdown, Daraz, an e-commerce platform in Nepal, partnered with a leading grocery store to deliver essential goods. Similarly, Foodmandu expanded its service to include fresh vegetable delivery along with food, ensuring continuity when their original services faced challenges.
Using tools like the Business Model Canvas can help assess the viability of pivoting strategies. Who knows? You might discover a more lucrative or sustainable business model in the process.
3. Reassessing Operations Management
Some businesses thrived during the pandemic due to flexible, efficient, and system-driven operations. Others struggled to respond and adapt.
If your business faced difficulties, it might be time to reassess and build a more resilient operations model.
Reviewing your operations can improve efficiency by standardizing processes and building capacity throughout your organization, ultimately boosting overall productivity.
Conducting organizational assessments to identify pain points, gaps, and areas for improvement can help develop the right action plan. This can minimize the impact of future disruptions like COVID-19 on your business growth.
4. Re-Planning Finances
The pandemic had a major impact on many businesses’ financial health, making former financial plans obsolete or in need of revision.
This situation underscores the need for proactive financial risk assessment and re-planning.
With updated business plans, budget allocations may shift, and financial resources may need to be redistributed across different areas.
Careful planning and execution of these financial changes are essential for success.
A robust financial model will support strategic decision-making by providing a clear picture of your current financial status and setting future targets.
At Biruwa Advisors, we aim to help businesses better adapt to the changing world under and post-COVID-19. Our expertise includes research, business plan development, operations management, and financial analysis.
If you need assistance or simply want to discuss your plans, feel free to reach out. We’re also proud to offer free one-to-one mentorship sessions as part of our CSR initiative, where entrepreneurs can discuss their ideas and gain an independent perspective from our experts.
Business Continuity in Nepal during Lockdown
The COVID-19 outbreak prompted many companies in Nepal to initiate remote working for their staff. However, working from home has proven challenging for some, especially as the pandemic forced people into extended periods of remote work. The impact of COVID-19 has touched a wide range of businesses across Nepal.
“Employees are not able to perform 100% from home due to their mental state, environment, resources, data, etc.”
— Chhitiz Kiran Shrestha, Management Consultant
For many Nepalese, the biggest challenge in transitioning to remote work is the loss of routine that usually exists in an office setting. It becomes difficult to determine when to start and stop working. As Shashank Shrestha shares, “My team is performing well at home, but all of them have reported either underworking or overworking.” Maintaining focus throughout the day is another major challenge. Chhitiz Kiran Shrestha further explains that employees’ mental state, home environment, resource availability, and data accessibility all influence their ability to perform effectively from home.
Internet Connectivity Struggles
Following the lockdown, slow internet connectivity has emerged as another challenge for remote workers. With most people confined to their homes, internet usage has surged, putting pressure on service providers and leading to bandwidth issues.
Economic Impact on Motivation
Nepali businesses are also increasingly concerned about the economic fallout from the pandemic. According to Chhitiz Kiran Shrestha, “Organizations are concerned about the economic aftermath, so they are not willing to pay 100% to their staff.” This understandably affects overall motivation levels within organizations.
Despite these hurdles, many businesses continue to operate. To gain insights into how businesses and startups in Nepal are navigating this difficult period, Biruwa Advisors connected with entrepreneurs and team members through personal conversations, emails, and social media platforms. Below, we share key learnings that can help guide or reaffirm your approach during this time.
Defining Your Modus Operandi
The first step in moving forward is defining how your organization will operate under current conditions. This clarity helps teams understand the organizational direction amid ongoing challenges.
“Startups should try to define structure within this chaos. Foodmandu is using top-down communications with everyone within and outside the organization to coordinate our work.”
— Nidhaan Shrestha, CEO, Foodmandu
Drawing from past experiences such as the earthquake and blockade, it’s advisable to outline work structures and remain open to adjusting them to overcome operational challenges.
Communicate and Stay Connected
For organizations that continue their work, communication is a top priority. In this period of isolation, communication fosters clarity and confidence among team members and clients alike.
Some organizations have implemented daily team meetings to stay updated on progress and developments. Where physical presence is impossible, various digital communication channels help keep everyone informed.
Embrace Technology
Technology has played a pivotal role in ensuring business continuity. Roshan Joshi, Digital Marketing Manager at HLE Nepal, a BPO with over 150 Nepal-based team members, notes, “As a marketing team, we’re using JIRA as a project management tool and Google Hangouts for video calls. So far, so good.”
Similarly, Avigya Karki from Muna Agro Enterprise Group credits technology tools like Skype, Viber, and Zoom for enabling seamless communication across factories and production sites. Younger team members often assist in exploring and adopting new technology options.
Businesses that have adapted to use technology effectively for customer relations and service delivery are the ones continuing to thrive during this crisis.
Switch to Cashless Banking
While part of technological adaptation, cashless banking deserves special mention due to its significant impact on business processes.
Biruwa Advisors adopted online banking in early 2017 and has been utilizing digital banking services for company operations and staff payments.
Popular digital payment platforms such as eSewa, Fonepay, Khalti, and Connect IPS are widely used by organizations to handle various payments, including salary disbursements during lockdown.
Focus on Organizational Development & Management Systems
The lockdown and remote working have freed up some team members’ time, presenting an opportunity to tackle internal tasks often deprioritized during normal operations.
Organizations can focus on updating policies, streamlining workflows, and documenting additional procedures to strengthen management systems.
This is also a crucial time to strategize for potential post-lockdown scenarios and prepare accordingly.
Prioritize Work-Life Balance
Many individuals have reported either underworking or overworking while working from home. Organizations should experiment with different approaches to keep team members engaged without risking burnout.
Encourage your teams to take breaks, set aside weekends for personal time, exercise, and pursue hobbies that may have been neglected before.
Since working from home blurs the boundaries between office and personal life, it’s important for employees to consciously step away from their desks regularly.
11 Ways to Become a Work from Home Wizard
In recent years, working from home has steadily increased worldwide. But today, the global spread of COVID-19 has forced people into remote work for an indefinite period. The Government of Nepal has urged citizens to stay home unless absolutely necessary, encouraging working from home wherever possible.
While working from home comes with many perks, it can also be challenging, especially for those new to the setup. To help you make the most of your remote working arrangement, I researched and gathered some practical tips and advice—many inspired by Nepali social media users and online resources. Here’s a rundown of eleven essential tips to make working from home a success.
1. Create a Dedicated At-Home Office
Though tempting, working from your sofa or bed with a cup of chiya won’t boost productivity. Setting up an active, dedicated workspace encourages organization and helps you get into the right mindset for work.
“One of the top things for me to be productive and a good team player is to have a dedicated workspace,” says Tridev Gurung, a remote software engineer at The Bank of New York Mellon.
Keeping your workspace clean also helps maintain focus.
2. Get Dressed
Getting dressed not only prepares you mentally for the day but also ensures you’re ready for any unexpected virtual meetings. Changing out of pajamas is a small but important ritual. Likewise, changing out of work clothes at the end of the day signals to your brain that the workday is over.
3. Set Your Work Hours
Some people thrive by sticking to traditional office hours, while others prefer a more flexible schedule. Identify when you’re most productive and plan your work hours around those peak times. The key is to focus on getting things done effectively and efficiently, not just clocking hours.
4. Establish Boundaries
Set clear boundaries with family, roommates, friends, and even pets during your work hours to minimize interruptions. With everyone confined to home, distractions are common. If you have young children, plan work around their naps or quiet times to maximize focus. Also, remember to spend quality time with your loved ones after work to maintain a healthy balance.
5. Structure Your Day
Develop a daily routine by setting specific work hours and updating a to-do list every morning. Organizing priorities, tasks, and deadlines can help maintain your focus and productivity throughout the day. Use planners, calendars, or digital tools to keep track.
6. Avoid Over-Committing
It’s easy to overestimate what you can accomplish when working from home, which can lead to burnout and reduced output. Commit only to tasks you realistically can complete in a day without undue pressure.
7. Take Short Breaks at Regular Intervals
Although it might seem counterintuitive, taking short, frequent breaks improves productivity more than fewer, longer breaks. Use breaks to move around and give your eyes a rest from screens.
Beware of social media distractions—consider using it as a reward after completing high-priority tasks to maintain focus.
8. Communicate Regularly with Team Members
Beyond emails and instant messaging, schedule regular check-ins through phone or video calls using tools like Skype, Viber, or WhatsApp.
As Supriya Karki noted on Twitter, “I am usually more active when I do work from home. First thing is we need to make communication with colleagues we are working with and be available.”
Don’t forget to socialize informally, like you would in an office, and keep your team updated on your schedule and task progress.
9. Stay Physically Active and Healthy
Lockdowns and curfews mean many of us are homebound, which can reduce physical activity. Staying active is crucial for both physical and mental health. Harvard researchers confirm that the immune system functions better with good nutrition, sleep, and exercise.
Exercise includes not just yoga or workouts but also daily chores like cooking, cleaning, and gardening—all moderate physical activities that boost health, reduce stress, and increase energy, leading to better focus and productivity.
10. Protect Your Mental Health
The pandemic affects mental well-being, especially for those with pre-existing conditions like anxiety or OCD. The sudden shift to remote work can be mentally distressing. If you feel overwhelmed, seek support from professionals or helplines.
Make mental health a priority alongside physical health during this difficult time.
11. Celebrate Your Wins
At the end of each workday, review what you have accomplished. Tracking your achievements helps maintain motivation and builds confidence for future work-from-home days. Celebrating even small wins creates a positive cycle of productivity.
Market Research- A Tool for Business Guidance
Running a business without adequate market information is like driving a car with a foggy windscreen — progress is slow and uncertain. Market research is an invaluable tool because it provides detailed insights into customer demographics, demands, market trends, and competitor analysis, enabling better decision-making.
Whether you are planning to launch a new product or service, scale your existing business, or simply improve your operations to gain a competitive edge, market research plays a crucial role.
Why Many Businesses Miss the Mark
Too often, businesses rush to sell their products or services based on the instincts of a few key individuals rather than proper market understanding. Without a clear grasp of the market and its stakeholders, such efforts often fall short.
Five Reasons Market Research is Important Throughout the Business Lifecycle
1. Better Understanding of Your Customers
Businesses that deeply understand their customers tend to outperform competitors. Market research helps identify your target customers’ needs, preferences, purchasing behavior, and expectations. With this information, you can tailor your marketing and pricing strategies to better serve your customers, making your business their top choice.
By profiling your ideal customer — considering factors like age, gender, location, and income — you can accurately estimate market size and pinpoint the triggers that drive purchasing decisions.
2. Insight into the Competitive Landscape
The marketplace today is crowded with competitors, making customer acquisition and retention challenging. Market research helps you identify key players and those with growth potential, analyze their strengths and weaknesses, and discover market gaps. Learning from competitors’ successes and failures enables you to craft smarter strategies to capture your target audience.
3. Product Testing Before Launch
Before fully launching a product or service, market testing helps determine if it resonates with your audience. This process highlights potential improvements and mistakes, saving costs and preventing poor customer experiences. While no launch guarantees success, testing provides critical guidance to refine your offering.
4. Staying Relevant in the Marketplace
Bill Clinton once said, “The price of doing the same old thing is far higher than the price of change.” The downfall of once-dominant Nokia versus the rise of Apple and Xiaomi illustrates this perfectly. Successful companies use market research to anticipate shifts and adapt accordingly. To stay competitive, businesses must predict and embrace change before it overtakes them.
5. Cost-Effectiveness and Business Growth
A well-executed market research strategy can identify potential problems before they arise, minimizing risks and saving money. By understanding customer demands and market dynamics, you can optimize your marketing efforts to be more efficient and cost-effective. This fosters sustainable business growth.
Keep an Open Mind
Market research requires openness. Businesses often cling to their ideas and fail to see things from the customer’s perspective. Starbucks disrupted the coffee industry by recognizing that customers sought more than just good coffee—they wanted an enjoyable experience. This insight led to innovations in seating arrangements and store atmosphere, enhancing customer satisfaction.
At Biruwa Advisors, market research is one of our most sought-after services. We are eager to help businesses gain the insights they need to thrive in today’s competitive market.
Different Stages of Coronavirus Outbreak and Popular Myths
Understanding Coronavirus (COVID-19) and Precautionary Measures in Nepal
What is Coronavirus?
Coronavirus is a newly discovered virus causing the infectious disease known as COVID-19. It spreads primarily through small droplets from the nose or mouth when an infected person coughs or exhales.
Four Stages of Virus Spread:
- Imported Cases: Virus enters through infected travelers returning from abroad.
- Local Transmission: Spread to people who have come in contact with those infected travelers.
- Communal Transmission: New infections occur among people with no travel history or known contact with infected individuals.
- Epidemic: Widespread, uncontrolled transmission affecting the entire country (e.g., Iran, Italy, China).
Nepal’s Precautionary Measures to Contain COVID-19:
- Ban on arrivals from affected countries until April 15.
- Minimize movement outside homes.
- Prohibition of gatherings over 25 people.
- Closure of movie halls, stadiums, gyms, nightclubs, and other entertainment venues until April 30.
- Suspension of academic classes until April 12.
- Hotels, restaurants, and shopping malls required to use disinfectants, hand sanitizers, and conduct health screenings.
- Non-essential services by private and public sectors halted; essential services like banking, electricity, food distribution continue.
- Suspension of long-haul transport and all international flights.
Role of Companies and Individuals
Everyone has a responsibility to help minimize virus spread, especially in workplaces. [Link for workplace guidelines]
Fighting Misinformation: WHO Myth-Busters
| Myth | Fact |
|---|---|
| Virus does not spread in hot climates | COVID-19 can spread in all climates and regions. |
| Thermal scanners detect the virus | Scanners detect fever, not the virus itself. |
| Eating garlic kills the virus | Garlic is healthy but does not prevent or cure COVID-19. |
| Only elderly or sick people affected | People of all ages can catch COVID-19; elderly and sick are more vulnerable. |
| Antibiotics cure COVID-19 | Antibiotics treat bacteria, not viruses; they may be given for bacterial co-infections. |