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Why engaging in a price war is a bad idea

You may be tempted to engage in a price war when you’re starting your business. You may feel like you need to do everything you can to undercut your competition.

But here’s why you should not engage in a price war: It’s bad for your business, it’s bad for your customers, and it’s bad for the economy.

Keep reading to learn more.

What is a price war?

In the business world, a price war is a situation where businesses engage in a race to the bottom to offer the lowest prices. There are several reasons why you should stay away from price wars when running your business.

First, engaging in a price war can quickly lead to losses for all involved. Second, it can be difficult to win a price war, as your competitors may be willing to offer even lower prices than you are. Finally, by engaging in a price war, you may sabotage your brand and lose customers who are unwilling to shop at a business when prices are back to “normal”.

Can you win a price war?

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It’s no secret that price wars can be brutal. Not only do they have the potential to drain your resources and profits, but they can also lead to customer attrition and decreased brand loyalty. So, the question is, can you win a price war?

In theory, yes, it is possible to win a price war. But in reality, it’s very rare for a business to come out on top. This is because most companies engage in price wars irrationally, without any clear plan or strategy. As a result, they end up slashing prices to unsustainable levels, which only serves to erode their capital and hurt their brand.

So before you decide to engage in a price war, ask yourself this: Is it worth it? Some entrepreneurs might be hesitant to engage in a price war, thinking that it’s not a wise decision. After all, who wants to spend time and resources fighting a battle that they’re not confident in winning?

What are some alternatives to a price war?

There are a few alternatives to engaging in a price war when running a business. You could try to differentiate your product from that of your competitors, focus on customer service, or invest in marketing and advertising to increase your brand awareness.

Another option is to slightly raise your prices. This can be a risky move, but it can also be successful if you can convince your customers that your products are worth the extra cost.

You could consider lowering your costs in other areas of your business, such as production or offering free shipping. This may be less desirable than the other options, but it can be an effective way to stay competitive without resorting to a price war.

What are the long-term negative effects of a price war?

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There are a few negative long-term effects of engaging in a price war. As briefly mentioned earlier, it can harm your brand. When you slash prices to compete with others, you’re essentially telling your customers that your products are of low quality or that you’re desperate. This can cause them to lose faith in your brand and switch to a competitor.

Second, price wars can be costly and detrimental to your business. You may start by slashing prices to stay competitive, but eventually, you will have to raise them again to make a profit. However, your competitors may not be willing to raise their prices back up, which could put you at a disadvantage. In the long run, a price war can be very flawed for your business and lead to its downfall.

When it comes to business, one thing is for sure: you have to be smart about the decisions you make. So, if you’re thinking about engaging in a price war, think again. Customers do place a lot of value on quality, and many of them are willing to spend more for a product that is smarter, quicker, tougher, more stylish, or environmentally friendly. You can also consider adding extras like freebies, free delivery, or complimentary gift-wrapping. Good customer service has a big impact on customers too. These alternative strategies can not only be more successful, but they are nearly always less expensive than participating in a pointless pricing war that could cause the collapse of your company.

Do You Need to Tip in Singapore?

Tipping is the “act of giving an amount of money to someone who has provided a service, especially in a hotel or restaurant”. It is customary to leave gratuity throughout America. In Asia, the tipping etiquette varies across countries and establishments.

Tipping, in general, is not expected in Singapore. However, there may be times when you want to reward the waiter or staff for providing an excellent service. On that note, here are some scenarios where tipping can be considered.

RESTAURANTS AND FOOD ESTABLISHMENTS

Gratuity is usually not expected at cafes, bars, and small-scale eateries. No one is going to run after you if you do not leave a tip! However, most restaurants and hotels in Singapore add 10% service charge to the total bill. If you insist on tipping your waiter for their pleasant service, it is best to hand the cash directly to the person or to leave the cash on the table.

TAXI DRIVERS

Taxis in Singapore are well-regulated. Thus, it is not necessary to leave your cab driver a tip. Nonetheless, it can be done to round up the fare.

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AIRPORT PERSONNEL

At Changi International Airport, services range from baby care rooms to convenience stores. Despite receiving excellent service, you cannot hand over tips to shop clerks or baggage handlers. Airport personnel are not allowed to receive gratuity in Singapore.

TOUR GUIDES

Being a tour guide is a thankless job. Tour guides are tasked to entertain a group of people from day to night. Depending on your experience and the length of the tour, handing a tip to your tour guide at the end of the tour can be done. Tip around five to fifteen percent of what you paid for.

HOTEL STAFF

Tipping the bellhops is not compulsory, but highly appreciated. Leaving a tip for cleaners and other hotel staff is entirely up to you. You may leave a note and an envelope in your room to extend your gratitude to them.

Image Credits: pixabay.com

AS A TOURIST, WHAT IS A REASONABLE TIP?

Tipping in Singapore is not customary, but it is highly appreciated. You can give tips after receiving good service. Opinions can vary about the most reasonable amount to tip. A good measure is leaving about five to fifteen percent of the total bill behind.

You will have to judge whether you want to give a tip that is lower than 5%. Consider your travel budget, the country’s tipping customs, and your personal preferences.

Sources: 1, 2, & 3

Restless nights? Try these tips to help your baby sleep more soundly

You’ve likely been told that newborns sleep a lot.

And you’ve probably heard that babies should get between 12 and 15 hours of sleep every day. But what if your little one is struggling to get the recommended amount of shut-eye? You’re not alone. Statistics have it that 50 to 70 percent of parents report problems with their baby’s sleep.

That’s why in this post, we will share some tips to help your baby sleep more soundly.

Why is sleep important for babies?

All babies need sleep, but it can be tough to get them to bed and keep them there. Here are a few suggestions to help your little one sleep more soundly:

Establish a bedtime routine and stick to it. Rituals like a bath, reading a story, and singing lullabies can help signal to your baby that it’s time for bed.
Create a dark and quiet environment for sleep. Keep the room dimmed, and avoid noisy appliances like the hairdryer, dishwasher, or washing machine.
Experiment with different swaddling techniques until you find one that your little one likes. Swaddling can help babies feel calm and secure, leading to longer and more restful sleep.

The role of naps in your baby’s sleep

One of the most important aspects of getting your baby to sleep through the night is ensuring they’re taking adequate naps during the day. Napping helps to regulate their energy levels and makes them less restless at night.

There are a few things you can do to help ensure your newborn takes sound naps:

Make sure they’re not over-tired
Place them in a dark and quiet room
Keep naptime routines consistent from day to day
Avoid letting them nap for too long, or they might not be tired enough at bedtime

When to call a doctor about your baby’s sleep

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If your baby is having trouble sleeping, it’s crucial to know when to call a doctor for help. Here are a few signs that it might be time to seek professional advice:

You’re concerned about your baby’s sleep habits
Your baby has disrupted sleep patterns for more than two weeks
Your baby is five months or older and isn’t sleeping through the night
Your baby is less than four months old and isn’t sleeping more than three hours at a time during the night

What if my baby doesn’t sleep through the night?

If your baby is still waking up at night, don’t worry! It’s completely normal for newborns to wake up frequently (usually more than once a night). In fact, they may not even sleep through the night until they’re several months old. But should you sense something not quite right, consult your pediatrician for additional advice.

Creating a sleep-friendly environment for your baby

Creating a sleep-friendly environment for your baby is one of the most important things you can do to help them get the sleep they need. Here are a few recommendations:

Reduce noise and light exposure as much as possible, and keep electronic devices turned off.
Keep the temperature in your baby’s room comfortable, preferably between 20 to 22 degrees Celsius.
Resist the urge to rock or nurse your baby to sleep, as this can make it harder for them to fall asleep on their own later on.
Make sure your baby’s bed is comfortable and safe. Use a firm mattress that’s the right size for your baby, and avoid using items that could potentially cause them to suffocate.

There are a lot of things new parents have to worry about, and getting their baby to sleep is often one of them. Thankfully, there are a few things you can do to help your baby sleep more soundly as we’ve mentioned in this article. If all else fails, don’t be afraid to seek out some professional help. Experts at the clinic or hospital should be able to help you create a personalized sleep plan for your baby that will have them sleeping through the night in no time.

Ways to stop excessive worrying

We’ve all been there. That nagging feeling in the back of our minds won’t go away no matter how much we try to ignore it.

Worrying is a natural stress response, but when it becomes overblown, it can be incredibly disruptive to our daily lives. We start to miss deadlines, overreact to every little thing, and worst of all, the worrying itself becomes fuel to the fire of stress.

In this post, we will share some ways to overcome excessive worrying and get your life back on track.

Why do we worry?

Do you ever feel like you can’t “turn off” your brain? That no matter what you do, you can’t stop the constant chatter of worry and stress?

It’s not uncommon to feel this way. In fact, excessive worrying is one of the most common mental health concerns. And while it can be tough to break the habit, it’s not impossible.

So why do we worry in the first place? There are several reasons, but some of the most common ones are fear of the unknown, concern for loved ones, and the ideal of perfectionism.

Why worry is harmful

We all know the feeling. That sense of unease that comes when we can’t seem to shake off a feeling of dread. We start to worry about things we might have forgotten or things that might go wrong in the future.

Before we know it, we’re stuck in a vicious cycle of pressure. Not only is this mentally and emotionally exhausting, but it can also harm our physical health.

So why is worrying so harmful? Here are just a few reasons:

Cause us to lose focus and make poor decisions
Lead to more stress and anxiety, which can hurt our mental health
Keep us up at night and impact our ability to get a good night’s sleep
Give rise to tension headaches, neck pain, and other physical symptoms

How to stop worrying

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There will be times when you feel like you just can’t seem to stop worrying. Your mind is constantly racing and all you can think about is the thing that’s worrying you. This can be exhausting but fret not—we’ve got you covered.

Here are a few tips on how to stop worrying:

Recognize when you’re worrying and acknowledge it.
Permit yourself to worry for a designated amount of time (say, 15 minutes).
Once the time is up, consciously stop worrying and redirect your thoughts elsewhere.
Practice healthy habits like exercise and meditation, which can help to calm the mind and ease anxiety.
Don’t be ashamed to seek professional help if your worries are impacting your daily life or causing you too much distress.

The different types of worry and their effects

There are several different types of worry, each of which can harm our mental and physical health. Here are the four main types of worry:

Control worries: This type of worry is all about trying to contain things that are outside our control. It can be futile and often leads to feelings of stress.
Rumination worries: This type of worry is characterized by repetitive, intrusive thoughts that cause a great deal of despair. Rumination worries can lead to issues like depression and insomnia.
Planning worries: You find yourself focused on the future and often obsessing over things that may or may not happen. Planning worries can be paralyzing and can prevent us from living in the present.
Performance worries: This is typical in highly self-critical people. It involves obsessing over things like making mistakes or not meeting high standards. Performance worries can lead to a lot of self-directed pressure.

When we worry, our bodies go into overdrive. Our heart rate and breathing speed up, and our muscles tense up. This is all part of our fight or flight response, which is designed to help us escape danger.

But when we’re constantly worrying about things that are unlikely to happen, or that we have no control over, our bodies are in a state of constant stress. And over time, this can lead to weighty health problems like heart diseases, high blood pressure, and long-term loss of sleep.

Bonus tips and tricks to reduce excessive worrying

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Now that you’ve learned some of the best strategies to overcome excessive worrying, it’s time for a few bonus tips before we close:

Talk to someone about your worries. It can be really helpful to talk to someone who will listen and understand, rather than keeping your worries bottled up inside.
Make a list of things to do when you’re feeling overwhelmed by worry. This could be anything from taking a walk outside to writing in a journal. Having a list of activities to distract you from dreading can be helpful.
Practice self-care. When you’re taking care of yourself physically, it can be easier to take care of yourself emotionally as well. Make sure to get enough sleep, groom yourself, eat healthy foods, and work out regularly.
Find a relaxation technique that works for you. Whether it’s yoga meditation, deep breathing exercises, or listening to calming music, finding a relaxation technique that helps you relax can be beneficial.

You’re not alone in your worries, and many techniques can help you overcome excessive worrying. By following the tips in this blog post, you can start to take back command of your life and stop letting your worries consume you by the day. You can do it!

Tips for dealing with a child who refuses to do their homework

As a parent, it can be frustrating and exhausting when your child refuses to do their homework. It’s hard to know what to do and where to turn for help.

In this post, we will outline some tips that can help you deal with your child’s homework refusal.

Make it fun

One way to get your child excited about doing their homework is to make it fun. Here are a few ways:

Find a homework buddy. Working with a friend can make homework more enjoyable.
Take a break. Allow your child to take a five-minute break after every 30 minutes of work.
Make it a competition. See who can finish their work first amongst your children and come up with a fun award for the winner.

Set a good example

One of the best things you can do to help your child with their homework is to set a good example. If they see that you take your work seriously and make an effort to complete it on time, they’re more likely to do the same.

Make sure you have a designated homework space in your home and try to stick to a regular study schedule. Avoid distractions by muting your phone and turning off the television when your kids are scribbling away, and be sure to praise your child when they make progress.

Get help from a tutor

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If your child is refusing to do their homework, it might be time to get help from a tutor. A tutor can provide support and guidance, and help your child develop good study habits.

If you’re looking for a tutor, there are a few things you should keep in mind. Firstly, make sure you find a tutor who is qualified and experienced. Secondly, make sure you find a tutor who is a good fit for your child. Some tutors are better with visual learners, while others are better with auditory learners.

Finally, be prepared to invest in tutoring. Tutoring can be expensive in the long run, but it can be worth it if it helps your child get good grades and improve their academic performance over time.

Change up the routine

It can be frustrating when your child refuses to do their homework but don’t worry, you’re not alone. Many parents face this struggle every day. One way is to try and change up the routine a bit. If your child has always completed their homework in the same spot, at the same time every day, try mixing things up a bit. Maybe let them do it in another room, or at a different time of day.

As mentioned briefly earlier on, you can also try letting them work with a friend or sibling. This can help make the homework process more fun and exciting, and it also provides some built-in accountability. If your child knows that they have to complete their homework to spend time on their favorite video game, they’re more likely to do it!

Keep a positive attitude

It can be tough to keep a positive attitude when your child is refusing to do their homework, but it’s necessary to stay calm and supportive. Here are a few tips to help you out:

Try not to get mad or annoyed. This will only make the situation worse.
Keep a cheery attitude and show your child that you believe they can do it.
Encourage them to take short breaks, but make sure they don’t spend too long goofing around!
Ensure your child has a conducive, designated workspace and sufficient time to complete their homework.

Don’t do their homework for them

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One of the most crucial things to remember when your child is refusing to do their homework is not to do it for them. This will only reinforce the behavior and make it harder for them to learn how to be responsible and autonomous.

Instead, try to provide them with as much aid and guidance as possible. Offer encouragement, set reasonable deadlines, and secure them a quiet and distraction-free workspace. And most crucially, stay optimistic and don’t get upset with them.

Know the difference between a bribe and a reward

Bribing our children rather than rewarding good behavior is one of the quick shortcuts most parents use. There could be a small discrepancy; a reward is anything that is provided following a successful endeavor. When you negotiate with your child over a duty that is already theirs, you are bribing them.

Your kid will start to anticipate anything extra merely for doing something they are responsible for if you bribe them to complete their schoolwork or perform any other required task. Bribes weaken your power as a parent because your children will learn that they can manipulate you by threatening to behave badly. Bribes give your child control over you.

There will come a time in every child’s education when they will refuse to do their homework. It can be frustrating and overwhelming for parents when this happens. But don’t worry. Bookmark this article and refer to the tactics mentioned every now and then to help you deal with a child who refuses to do their homework.