Category: Business

Do You Backup Your Data?

17/5/2017

The only shower room in the building is closed. I just had my morning walk and am all sweaty. I don't have a backup plan. What a sticky way to start Monday!

In the office, we face the same situation. Computers break down. Computers get infected with viruses. Computers fail.

What is your backup plan?

Backup is a big topic ranging from business continuity to data backup.

Let's address some basic questions at the lowest level of data backup:

Who is responsible?
You. Nobody else.

What needs to be backed up?
Your data, i.e., all sorts of files - documents, pictures, videos.

Where to store backup copies?
Any storage medium other than the original location.

When to do it?
When you don't have the time.

Why?
Because... computers break down, computers get infected with viruses, computers fail.

How?

1. The manual way

Literally copy (e.g., right-click: copy) important files onto an external drive (e.g., USB flash drive).

2. The automated way

The better way is to buy an external backup hard disk. It usually comes with a backup utility that lets you copy your documents folders onto the external disk (or even clone your computer). You can activate the backup process manually or set a time schedule. The backup process runs in the background while you continue to do your work.

3. The double backup

In (2) above, what you're doing is a global backup. When you use a piece of software for work, the software itself may have a backup function to let you backup the data of that software. Depending on how regular your backup in (2) is, you may do an extra "local" backup here so that you can sleep better at night.

For QuickBooks users, read more about backing up and restoring QuickBooks data at Qcom's website here.

Warning: Guard your company information

11/6/2014

Most people see 3. The answer, 6. Why do I show you this?

Because your eyes can play tricks on you.

And cause you to be tricked.

Like this letter that you just received...

Notice for verification of information (?)

Beware, the last paragraph reads (emphasis added):

This is a database for Singapore companies on www.companyregister.sg, which is operated by Data Register and not by the Accounting and Corporate Regulatory Authority of Singapore.

Did you miss the "not" on your first reading?

Yes, this is the same company that ACRA has brought charges against (78 charges as at last count - maybe ACRA decided to keep the number auspicious).

In order that you don't end up financing their penalty fees, you should do two things:

Ignore the letter.
Tell your friends to ignore the letter.

And consider the third:

After two weeks, thank the site administrator for deleting your company information from the database.

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In the meantime, enjoy the video below (same quiz):

What business managers can learn about marketing from the economist's supply curve

28/4/2012

The normal price-quantity relationship for supply is not a one-dimensional upward sloping curve starting at the zero point. In the real world, it should be a band.

There are people who are willing to perform at zero price, for example:
- the lawyer representing a client at no charge,
- the artist showing up at a charity event for free,
- the student doing internship without salary.

Therefore, being without compensation is NOT being without value.