Perhaps people are confident to go after their passion to start a business because they have acquired enough experience to do so or their training and educational background provided them with the knowledge and skills to make it happen. Still, this does not mean that business owners already know everything. They need to constantly update themselves with the latest trends and upgrade their proficiencies to move their ventures forward.
Drone cameras are getting more popular that almost anyone can purchase one and fly it on their own. Because a drone is now a must-have gadget, especially among travellers and photography enthusiasts, people think that it is easy to fly them. It may seem so, but unknown to many, it is also easy to crash them. It can be compared with starting and owning a business. The majority only pays attention to the rewards but fails to realise the difficulty of keeping a venture afloat and letting it soar to success.
From the President
Dear EO Melbourne,
I recently caught up with Dave Ansett, a Past President, where he checked in and asked how I was going. Steadfast in my determination not to respond with a throwaway “good”, I paused, reflected for a moment, and responded with, “I feel genuinely and incredibly lucky.”
As our Board close off our first quarter and start our second quarter together, we turn our minds towards our 3 key priorities: (1) Respect our past; (2) Be custodians to the present; and (3) Plan for the future. As part of planning for the future, we consider the question of succession planning and open up the call for nominations for Board positions. In my experience, being on the Board is a masterclass in influence and leadership, and one of those things that money can’t buy. If you wish to put your hand up for the Path of Leadership and be considered as a President in the future, please let myself and Kirsten (email@example.com) know privately.
EO Melbourne members and their families had a fun engagement at the How to Build Successful Families Workshop with Warren Rustand. Out of the 80 participants, 33 were family guests or children of EO members. This workshop coincides with the chapter’s focus this year on family and in bringing those most important on the same journey.
From the President
Dear EO Melbourne,
I can’t believe we’re halfway through September! As I write these words and reflect on the journey so far, I note that at the conclusion of September, our first quarter of our Board’s term will be complete. And what an impactful first quarter it has been!
A significant element to survive the challenge-filled entrepreneurial journey is a strong support system not only at work but also at home. Entrepreneurs often wear several hats and carry out various responsibilities – business owners, leaders, mentors and parents, to name a few. They sometimes end up tired and weary physically, mentally and emotionally. Thus, having a family that fully understands and supports the journey that entrepreneurs take is a factor in one’s longevity in the business world.
Tea drinking has been part of both Western and Eastern cultures for many centuries now. Drinking tea has become a form of social interaction in certain societies, while it is considered a formal ceremony in other countries. With all the traditional and modern tea beverages in the world, it’s time to take a closer look at the tea varieties and how they can correspond to a certain type of entrepreneur.
Juggling different tasks in business, roles in your personal life, positions in your various associations and commitments in other interests can be tiresome. “Time is gold” rings true to every entrepreneur, which is why there is a need to manage it well. Otherwise, you’ll end up doing too many mundane things that may take up a lot of your time and energy.
If you have a pet dog at home, raising it can also hone your leadership abilities. While dogs are cute and cuddly, owning one or more is not a walk in a park. That is why caring for them builds your character as well. Why not apply these skills to your business, particularly in leading your team.
Entry to the entrepreneurial world may come from different points and in various forms. There are those who have started early because their hobby or interest has grown organically. Some may have arrived at this path because of family influence or connections. Others probably stumbled to it by accident or found their way there because of a great need. Then there are those that transition from a regular job towards self-employment.
Playing Jenga, where you take a wooden block from any part of the tower and stack it on top, takes a lot of patience, concentration and control to win over your opponents. The objective of Jenga, which is a Swahili word that means “to build”, is to make a taller tower but stable enough not to topple during your turn.
Taking the entrepreneurial journey requires a lot of guts and courage because the path is full of difficulties and hardships. To be an entrepreneur means you’re ready to take risks, and becoming one is already an indication of confidence. But not at all times you may be brave enough to face various challenges. There are moments when fear and timidity set in, and it can cause you to crumble from the inside.
Every business has competition. It’s a factor that you have to consider in making business decisions. Numbers may indicate that you have a positive bottom line, but you also have to check your portion in the market share. There may be an opportunity to increase your piece and get a bigger slice of the pie. How do you do it?
A business plan is a tool that will help you get to your entrepreneurial destination within the timeframe you set or even at a faster pace. It provides you with a map and directions on how to get there. Not everyone may be able to read a map, as much as not many may find a business plan useful. Maybe not in all circumstances, but in major crossroads of your entrepreneurial journey, it is advantageous to have something that you can refer to that can help you stay focused on your goals.
Doing business in different parts of the globe or having team members in various locations may require a lot of communication to ensure that things go well. In this age of modern technology, being physically apart is not a hindrance in doing business transactions or official meetings. Within EO and among EO members, online meetings are also common and widely used.
Surfing is not for the faint-hearted, and so is the entrepreneurial journey. It takes skills, practice, determination and passion to ride the waves of tribulations. One can brave the perils of surfing or entrepreneurship through persistence because perseverance is necessary to achieve the needed to accomplish.
If you are a new entrepreneur or have kept to yourself all these years, it’s probably time to go out of your comfort zone, huddle with other entrepreneurs and consider joining business organisations. There are pros and cons to becoming part of a group. Membership may entail investing your time, talent and treasure into the group, but the rewards can be tremendous if you use it to your full advantage.
Rewards programs are now uncommon as more and more businesses in various industries get into this method. From the travel industry to hospitality, dining, finance and retail, many companies offer special privileges to their clientele through a rewards program.
Marketing efforts can only be as effective as your ability to bring a sales transaction into a successful close. Whether you are selling an actual product, a concept or a service, being able to convince your prospect is a skill that can be learned and practised. Many become sharp at selling as they get more experience at it.
Not many may adhere to the thought of leaving their workspace and be with several other people, mostly strangers, to listen to a speaker. Others may prefer to read books, watch videos or listen to podcasts in the comforts of their offices or homes rather than going to a venue, which may be a bit intimidating. However, there is a great benefit in being in that space where you absorb the energy of experts and other like-minded individuals.