Your diet, your business and you

The holiday parties may have you binging on food that it’s time to shed the unwanted fats and get into shape. The new year calls for a new you – a better and healthier version of yourself. You may want to hit the gym, do some physical activities, or watch your diet. But it’s always good to do some research before you decide the right course for you, as a particular activity or diet may pose risks to your health.

Let us take a peek at the different kinds of diets to orient ourselves with how they affect our body. People go on a diet for various motives, may it be for weight loss, lifestyle change, or medical reasons. Should you decide to choose a particular path, remember that it is something you are bent on doing for the long haul. Like in business, opting for particular food intake is a commitment to achieve the expected results. We can also get some ideas from the types of diet on how we can improve on running our business.

Paleo diet

As the name suggests, the Paleo diet is eating foods taken by our ancestors during the Paleolithic Era. The premise is that farming, agriculture and processed foods are a mismatch to our body. Mimicking the sustenance that cavemen consumed in the early days meant eating food that is high in fibre, protein, vitamins and minerals.

There may be skills or people that are a mismatch to a certain role or position. Having regular team building or skills audit will help you determine how to hone your team and assign the right people with the right skills to the job that fits them in your organisation.

Ketogenic diet

The term “ketogenic” comes from the word “ketones”, the tiny fuel molecules produced when the liver breaks down fats in the body. Ketosis happens when the body is low in glucose, so the brain shifts to ketones to keep the body going. This diet involves ingesting low-carb, high-fat food.

Often in business, we tend to concentrate only on the “glucose” or the biggest thing that keeps us going. Always have alternatives. Have a plan B, C or D in place. Do not put everything in one basket. Diversify the sources of income. Do not limit yourself with only a handful of clients or offerings. Come up with succession planning in your structure.

Atkins diet

Dr Robert Atkins is a cardiologist that introduced the Atkins diet. It also works based on the principle of ketosis. There are four phases in this diet where intake of carbohydrates is cut down while consuming protein. The last phase reintroduces carbohydrates, but in controlled portions and select types only.

A healthy dose of everything is also a good lesson in business. Look at your books and see where you spend the most. You can manage your finances by taking measures to infuse change until you get a steady flow of your income and expenses.

The Zone

Balancing one’s diet is the principle behind the Zone where a plate is composed of a bigger portion of low-glycemic carbohydrates, smaller portion of lean protein and a bit of monounsaturated fat. It’s objective is to reduce inflammation in the body.

Some business owners tend to spend the majority of their time on their ventures. Even outside of work, they still think about it and rarely switches off. While passion and dedication are important, too much focus on work may also result in burnout and illnesses. Take time to enjoy the other aspects of life.

Blood-type diet

Created by Dr Peter D’Adamo, this kind of diet works on the premise that there are food types that react differently depending on the blood type. According to him, the lectins or protein components of food tend to bind with antigens on our blood cells that result in agglutination. To counter this, he has a recommended list of foods to eat and to avoid for various blood types.

Every business, market and industry has varying dynamics at any given time and space. There is no single clear-cut formula for success because certain methods may work differently in various situations and characteristics. Thus, it is important to test and research which ones may work for your business.

In the end, it is always best to consult with an expert, whether it’s for your body’s health or your business’ well-being. If you are bent on going on a strict diet, a nutritionist or a physician can shed more light on the best method to go forward. You may also find clubs composed of people who are already in the process of dieting, and they can be your support group. As to entrepreneurship, a mentor or an organisation of like-minded business people can help you look after your growth and that of your enterprise. Joining groups like EO Melbourne can be a great venue for you to learn and increase your business knowledge.

Whatever path you want to take, it’s good to have people to be with you on your journey. With the right company, you can meet the challenges ahead and continue towards your goal because you have fellow travellers who walk with you.

10 fun activities for team-building

Taking time off from one’s busy schedule is a welcome respite for every person – business owners and staff members alike. Apart from vacation and annual leaves, a good way to break free from the confines of workspaces and work routines is to have team-building activities where the entire team can have fun together. The beginning of the year is the best time for some pep rally to set the tone for your internal environs.

Whether it is your annual planning or team-building session or a weekend getaway or an after-office bonding activity, doing something out of the usual work that you can enjoy as a group keeps a healthy business atmosphere. As they say, “all work and no play makes Jack a dull boy.” When things go dull around the workplace, it can pose a problem to the business as well.

Team-building activities bring great benefits to a company, no matter the size of the business. The change of environment, especially when you hold it somewhere conducive, and the intention of nurturing your team provide positive reinforcement to your staff. These sessions can motivate individual members of your group and engage them in your business on a deeper level. The activities can also enhance their creativity, leadership and problem-solving skills. They also strengthen the communication between members as well as build trust, confidence and teamwork among them. Most of all, it is a time for them to enjoy each other’s presence. In the end, it will increase their productivity, which can bring good to everyone.

If you plan to hold this annually, it would be good to come up with some exciting exercises for them. Below are ten games and activities that can make your team-building extra fun and enjoyable.

1.) Telephone charades

It’s a great icebreaker where, in each team, a person acts a charade for the next person in the line without the others watching. The second person then passes on the charade to the next until it reaches the last person who will guess the word or phrase. Not only will this generate lots of laughs but it will also tap into the creativity of each member and establish rapport among them.

2.) What’s my name?

Members will have a tag on their backs indicating a famous person, a profession or a type of person that they have to guess. Everyone will go around to ask questions, preferably answerable by yes or no, and observe how others treat them to get clues on the word written on their backs. This exercise can help determine stereotypes and allow members to interact with each other.

3.) Jigsaw puzzle contest

Let teams complete a jigsaw puzzle where the fastest one will be declared the winner. You can also modify this activity, such as hide certain pieces, set challenges to obtain the last piece or mix some pieces with the other teams so that they negotiate and exchange. Here, you will see the dynamics of the teams, which ones are good at leading, negotiating, and problem-solving.

4.) Survival game

You can set a scenario for this game, such as being stranded on an island or lost in the wilderness. Teams can choose ten objects they will bring to survive. It can be a pen-and-pencil activity or actual items in a box. Each team will then rank the items and justify the rank. You can even ask the teams to build or create something out of the items they have. It’s a decision-making and creativity exercise for everyone.

5.) Helium stick game

You can involve the entire team where members line up facing each other with their index fingers extended in front. Place the helium stick over their index fingers. They bring down the stick, which must remain in contact with all the extended fingers at all times. Otherwise, they have to start all over again. It’s a fun game of patience and teamwork.

6.) Escape room

Escape room games are gaining popularity, especially for team-building. Members are locked in a room and must solve a mystery or challenge within the allotted time for them to escape the room, or else, they will suffer the consequence. The situation will allow members to exhibit their capabilities in negotiating and solving problems.

7.) Scavenger hunt

What makes this activity fun is that members can do this around the neighbourhood or outside the venue. Teams are assigned to find or do a particular scene and take photos of the assignments on the list. You can take this further by requiring them to come up with a slideshow or movie of the photos they have taken. It will bring out the creative side of your members.

8.) Minefield

Divide the participants into pairs or small groups where they choose a member to be blindfolded. This member will go through obstacles and must avoid mines until they reach the end of the course. Teammates can only shout their instructions to guide the blindfolded member. Learn how different individuals issue orders and carry them out.

9.) Cook-off

Another fun way to strengthen the bond of your staff is to do practical activities, such as cooking. You can implement this in different ways. Some do this as a relay where only one team member can perform a particular task one at a time. Afterwards, you can dine together and enjoy the dishes your staff has prepared.

10.) Community service or volunteer work

Doing community service or volunteer work is an activity that your members can do together and find fulfilment. Let them do the planning, preparation and implementation, including choosing the service and the organisation that will benefit from this activity.

Having a strong, dynamic team is a vital pillar in keeping your business formidable. Infuse the fun aspect in your corporate environment and nurture your corporate culture with your company values. Always build your team up to drive them forward to your goals.

Building an online community for your brand

The advent of social media has provided brands and businesses with a new way of communicating with their customers and loyal patrons. If before, the way of reaching out to them is through telemarketing and e-mails, engagement with them is taken to a different level with the growth of online communities. Having an online community is not as simple as talking to an audience. There is a dynamic exchange of ideas and opinions that allows customers to be more involved in the brand.

Creating a community allows your consumers to interact with you and share their feedback, stories and insights in a faster and bigger scale. While it is good in building relations with your stakeholders, it also opens up a window for negative reactions, which is why it is something you have to consider very seriously for your business. Before you decide to utilise this strategy, you have to determine first if an online community is something that you need because it takes a lot of effort and commitment to maintain one.

With a community of customers – loyal or disgruntled – you have direct access to their feedback and insights, which you can use for research and development of your products, services, or business, as a whole. It’s also an avenue for you to clarify or address any problem or concern. Knowing that you are listening to them also lessens frustrations from your customers. By establishing an open line of communication with your consumers, you can generate repeat customers and even turn them into your brand ambassadors that can bring in new ones through word of mouth.

But building an online community is easier said than done. Whether you create a forum, host it in your site, or use any of the social media platforms, there are tips to guide you on how to start and strengthen a community online.

1.) Content is king

Having informative and interesting content will hook your existing members and even drive new members to your online community. It should keep your audience engaged through facts, stories and questions. Remember that it’s not a one-way street. It’s not just you talking. It’s also an avenue for your audience to participate and voice out their opinions. You can even generate your content from your members. That way, they feel more connected to your brand.

2.) It’s all about value

Starting an online community is just a small percentage of the big picture. Sustaining it takes a lot of hard work. Members stay in the community when they find value in it. They may get new information regularly, voice their opinions, find gratification or earn new friends along the way. You have to form a special relationship with your community because trust is a key ingredient in keeping it together. Respond fast to queries or concerns in a tactful manner.

3.) A mine of expertise and ideas

Since an online community is composed of human beings, it is also a dynamic organism. Allow some room for your members to show their talents. Enliven discussions to generate lots of ideas. Be generous in giving affirmation to them. When there are insights or works from them that you want to use, be sure to recognise them and give them credit.

4.) Community guidelines are important

Like in any group, it is expected that there will be varying opinions, ideas and reactions. One person can react differently from another in a given situation. To avoid conflicts and install order in the community, you must set down rules and guidelines for everyone to follow. That way, members are aware of boundaries and limitations, making sure they don’t overstep on another person’s space.

5.) A community has a culture

The culture you want to infuse in your online community must reflect the values of your brand. But don’t make it too hard sell. The best way to influence the culture of your community is that you set yourself as a good example. Call out those who go out of bounds but in a non-offensive way. Acknowledge those who embody your corporate values.

6.) Let go of control

To make your community thrive, you often have to step back and allow them to take the reins of running it. You’ll be surprised at how eager they are to respond to each other’s questions, police those who do not follow the guidelines and initiate endeavours for the good of your brand.

There are more things you can do to create, develop and maintain an online community. The important thing is that you have to feel their pulse to know their needs. You can also listen to stories of business owners who have done the same. If you belong in organisations like EO Melbourne, it is a rich resource to mine lessons from the experiences of other entrepreneurs.

Regard your online community as your support base, setting a stage for them to shine and reach their full potential. It’s a give-and-take relationship that you, your brand, customers and prospects can align and help uplift each other.

Hiking towards business success

There are many parallelisms to the entrepreneurial journey, and we can draw lessons from various activities which we can apply to the business space. We don’t have to look far because the great outdoors is a rich resource of business insights. Bringing your venture to success is like hiking uphill to the peak. While climbing a mountain sounds exciting, it is full of challenges and risks, although the results can be extremely rewarding.

If you are planning to go for a hike or start a business, there are a few things to bear in mind before you set out. Even if you have been doing either one of these or both for quite some time, you can still refresh your perspective with a few reminders.

1.) Research is paramount

Before you embark on any hiking adventure, gather as much information as possible on the trails, the elevation, the weather, the preparations needed, and other details that will be helpful to you.

If you are starting a business, launching a new product or campaign, or coming up with an initiative, collect the data that can aid you in setting your objectives, strategies, plans and budget. Research is important to help you steer your business on the right path.

2.) Decide on the trail, distance and time

Once you know your options, choose a trail that can match your fitness level. If it is your first hike, opt for a shorter distance and an elevation that you can manage to scale. Determine the time you will allocate for the climb.

Decision-making is a key factor in entrepreneurship. You have to set your vision and goals, which includes your timeline on when you want to achieve these things, early on. Having a target in mind will guide you in making decisions, big or small.

3.) Study the terrain and directions

Do you know how to read maps? It’s time you familiarise yourself on how to understand maps and use a compass. Know the terrain of the place you are hiking so that you can better prepare for it.

In business, you have to understand your industry and market so that you can navigate your way to success. When you know your competitors, stakeholders, prospects, and other players in the industry, you can also define the direction that your business will be taking.

4.) Create a checklist

A checklist of what you need to do and bring can help you in your preparation for the actual hike. It keeps things organised, allowing you to focus on more important matters.

When you have big goals for your enterprise, it is beneficial to narrow them down into smaller goals and monthly, weekly and daily checklists. You don’t want to miss anything, as you want to cover everything when you are running a business.

5.) Get in shape

Hiking is a physical activity. Thus, exercise is necessary to prepare your mind and body for the challenge ahead. There will be difficulties, so you have to eat the right kind and amount of food.

You will find that learning about finances, marketing, sales, human resource and various aspects of the business is useful to the entrepreneurial journey. Similar to hiking, you have to stay healthy, both in mind and body, to lead your business to success.

6.) Pack the essentials

A first aid kit, food, and emergency items are some of the things necessary to bring when you go on a hike. But you have to pack only the weight that you can carry on your back. Otherwise, you will end up with a heavy load that will become more of a burden than an asset to your activity. Your checklist will help you determine which ones to prioritise.

With so many things happening inside, around and outside your business, you have to filter through all the noise and focus on what is important to your business.

7.) Gear up

Wear the right shoes that can sustain you throughout the hike. Layer your clothes and choose those that you can use in the changing weather. Make sure they are comfortable enough and can protect you from the harsh conditions on the trail.

Put up some security measures and safety nets for your business. You’ll never know what may happen to the economy, market or your operations. It’s good to think of the worst and do the best that you can so that you can achieve your goals.

8.) Find a hiking group or hiking partner

Hiking alone is not only lonesome but also susceptible to many dangers. While there is serenity in doing the hike by yourself, it is better to have people with you who can help you along the way. It is also exciting when you do it with a partner or a group.

The business world is a cutthroat environment, especially with the fierce competition where everyone wants to get the bigger piece of the pie. Surrounding yourself with like-minded people is advantageous when you navigate through the entrepreneurial waters. Groups like EO Melbourne have become a source of support to many business owners because of the learning events and programs that help members wade through the challenges of running a business.

There are other things to bear in mind when you want to go on a hike or run a business. Get the support of your family or friends by sharing your plans with them. Observe proper etiquette and respect others, whether you’re on the trail or the entrepreneurial journey. When things get tough, take a break and adjust your pace. Remember that in hiking and business, you are racing against yourself. You can set your targets based on your capabilities and determination. Push yourself but don’t go over the limit.

All set? Gear up, go after your dreams and reach for the top.

Understanding Generation Z for your business

The Millennials are getting older, and a new breed is making waves in society. “Generation Z” is becoming a buzzword these days. We read several articles differentiating this age bracket from its previous generation, the Millennials, which has become a household term globally.

Generation Z is the youth at present, which can help drive your business to success in the future. Before we get into Generation Z, let us first review the different age groups that comprise our current societies. Although individuals belonging in the same cohort may vary from person to person, there are distinct traits that are common in a particular peer group collectively. It is because they may have shared experiences due to the same trends that happen within their life stages. The exact year when a generation begins and ends are not defined universally because of the disparity in characteristics of such group in various geographic areas.

1. Traditionalists – These are the people born in the late 1920s to 1945. They are also called the Silent Generation. As the name suggests, they are conformists and loyal. This generation is composed of those who have experienced World War II and other wars.

2. Baby Boomers – Born in the latter half of the 1940s to the early half of the 1960s, the Baby Boomers are also the so-called the ”hippies”, “Generation Jones”, and other monikers. They have strong work ethics and are competitive and goal-oriented.

3. Generation X – They are those born in the second half of the 1960s to the latter half of the 1970s. They are independent, hardworking and associated with work-life balance. This generation experienced the transition from analogue to digital.

4. Millennials – This generation is made up of those born in the late 1970s and early 1980s to mid-1990s. Sometimes referred to as Generation Y, Millennials are tech-savvy and may shift jobs as they prefer more flexibility in work schedules.

5. Generation Z – Persons born in the second half of the 1990s to mid-2000s.

Generation Z characteristics

The Generation Z is the youth of today. Some of them are already entering the workforce and making decisions actively. These are some of the qualities of the Gen Z, which you may find useful when you engage with them.

They live in a digital age. With all the current technological advancements, they can communicate and interact easily and fast through various social network platforms and smartphone apps. They access information with a click of a button. Brands convey their messages through mobile and social media marketing. Because of the large influx of messages, the Gen Z crowd will most likely respond to those with great visuals.

They are financially literate. The financial downturns may have occurred before or during the time they were born, and they grow up conscious of the need to save and prepare for their future. Many of them earn a living while still in school, and they are more entrepreneurial than their other counterparts. Given the amount of information, how-to guides and instructional demos available online, Gen Z members are more inclined to create a business and do things DIY.

They are realistic and practical. This generation is aware of the risks and dangers in societies, brought about by certain realities like terrorism and recession. They approach things with caution, leaning more on frugality and practicality instead of extravagance and idealism.

They think global. Most societies exist in multi-cultural settings nowadays. Borders are getting blurry because of the digital space. Travel and instant communication are more common and accessible. One can easily connect with others in various parts of the world. These factors allow Gen Z to be more inclusive and accepting, allowing them to approach things from a broader perspective.

The Gen Z crowd is your consumer and emerging employee. It is important that you know how to reach out to them, position yourself well in their consciousness, and make them an active part of your business. Which is why certain brands create communities that can support and drive their enterprise. You can learn from the Gen Z members with their fresh insights and creativity, especially if you aspire for an increased and more significant presence in the markets you target and the industries where you belong. It’s about time you take a closer look at Generation Z and include them in your plans.

Maximising e-commerce for your businesses

The advancement of technology has brought many businesses and brands to enter a new world where they can market and sell their ideas, products and services more efficiently – the cyberspace. E-commerce has made transactions faster, safer and convenient for both sellers or service providers and customers, breaking boundaries and timezones as it is on a global scale.

E-commerce is growing by the minute, and it has generated trillions of US$ in sales over the last few years. The transactions are not only limited to B2C sales but also include B2B deals. It goes to show that businesses utilise online platforms for sales and marketing, both in retail and wholesale.

Doing online selling and marketing can generate swifter results while saving costs on overhead expenses because you don’t have a physical store. However, there are still advantages in having a brick-and-mortar store where people can see and experience the products and services firsthand. If you opt to do online transactions, be sure that you stand above the fierce competition offering the same kind of services, you have efficient and secure delivery of your goods and services, and you can immediately respond to queries and concerns 24/7. Remember that the cyberspace can be accessed globally, and entering into that arena means opening your business to an international audience.

Once you have assessed the pros and cons of doing e-commerce for your business and found a greater advantage in doing it, you may consider the following suggestions.

1. ) Invest in a good site

Customers should be able to access and navigate your site straightforwardly. Get an expert who can layout your site and can provide the needed support. It is important to have software that can run an online system which you and your team can manage with no or little difficulty. Also, make your site secure and safe for you and your clients to avoid hacking and any form of cyber attacks.

2.) Provide great content and appealing visuals

Your content, such as your copy and visuals, must have a hook that can attract your customers to your site, substantial information to retain them, and credibility that can convince them to avail of your offerings. Share stories or come up with articles relevant to your brand and your audience. Use SEO to drive your site to the top of search engines.

3.) Utilise social media

Nowadays, it’s not enough that you put up a site and populate it with information. You need to promote your site, too. One method is to capitalise on the growing population of social media. Utilise the social networks you find suitable in advancing your business, which includes Facebook, Twitter, Instagram, LinkedIn, Youtube, and Pinterest, among many others. Study the behaviours of users per platform and customise your postings and responses based on those data.

4.) Engage influencers

A little help from online-savvy personalities can also boost your online presence and e-commerce transactions. Do affiliate marketing and reach out to bloggers and social media accounts that have a huge following. Establish relationships with them and partner with them in certain marketing campaigns. Allow them to test your products and services and engage them in making your offerings better and more visible to others.

5.) Create an email list

Although social media is powerful, there are so many messages coming in every second in these platforms that may dilute the communication stream. It is still effective to use emails in conveying your message to potential buyers or clients. Email is also a good way to personalise your communication to your audience and strengthen your relations with your existing customers. Employ email marketing alongside your social media plans to boost your presence online.

6.) Build an online community

In cyberspace, it is no longer a one-way street. There are many opportunities for dialogue and conversations. Create an avenue for your customers or clients to have an open communication line with you. Involve them in some of your projects. Listen to their feedback and respond to them right away so you can build trust between your brand and your market.

7.) Hold an online initiative

You can conduct a cyber sale event, contest, giveaway, social media parties, or other initiatives that can draw more people to your site and your business. Keep your audience and market interested in your brand through special projects that will excite them. It is good to have something for them to look forward to happening in your site throughout the year.

With the way technology is advancing to the future, there is no doubt that more and more businesses will be including e-commerce into their operations. If this is the path your venture wants to take, the critical part is to enter it fully prepared. Gather as many information as you can and consult with the experts. Then, assess how you can make the most of online selling and marketing and let it work to your advantage.

What businesses can look forward to unfolding in 2019

The beginning of the year marks a time when people are hopeful of how the rest of the year will unfold. We may never predict what will happen next. But patterns in recent events can indicate various possibilities that the immediate future may bring. The present economic landscape can shape one’s business outlook, which is helpful to goal-setting and short-term planning.

New developments in industries, markets and trends can prepare you on how you can grow your enterprise as you incorporate these advances to your business. The good news is that industries and economies are gearing up for stronger performances. The Reserve Bank of Australia, on its November 2018 Statement on Monetary Policy, reported that the “GDP growth is running above 3 per cent.”

Technology

Technology is a constant player in the ongoing growth of various industries. Artificial Intelligence (AI) can help different sectors like human resource, especially in the selection process of candidates, and aid business owners in decision-making. Companies can capitalise on AI for their sales and marketing initiatives. New software and mobile applications are also on the rise, given the progress of the Internet of Things (IoT). Communication and networking are no longer limited to human interaction as machines are getting smarter and can also communicate and network with each other.

Security

Since transactions take place faster and in bigger volumes nowadays, security measures are also improving and getting more sophisticated. If this is something you have not begun doing, you can look into various cybersecurity tools that are available in your industry. Offence and defence are part of the game. While you go aggressive in your sales and marketing campaigns, make sure that you also protect your resources and data, as well as the privacy of your clients and customers.

Personalisation and audience engagement

The use of machines, robots and AI does not mean that everything will be impersonal. In fact, because of these technological advancements, you can personalise your messages and approach, talking directly to your specific audience. Increased interaction and engagement will fill the cyberspace, which is why you need to stand out by attracting and retaining your consumers through conversations. It will enable businesses to understand better their clients. You can tailor fit your messages, products and services to certain sectors or clients to appeal more to the individual preferences and tastes of customers.

Cloud-sharing and remote working

Advanced technology can help you save not only time but also cost and resources. Files are stored and shared on cloud servers. With people and businesses communicating and exchanging information in real time anywhere in the world, companies revolutionise their organisational structures and operations to take advantage of this development. Organisations get the services of freelancers and assign certain positions and roles to staff members based in various locations worldwide.

As the business landscape continues to evolve and transform, you can either create a disruption or allow others to disrupt your business. Keep your eyes open for new things to come and act fast and accordingly on what is best for your enterprise.

A guide to making New Year’s resolutions for entrepreneurs

With the changing of the calendar and another year approaches, we start putting together our New Year’s resolutions, hoping for another beginning that can help us become better than the previous years. Others may not subscribe to the idea of New Year’s resolutions, but in business, there is a parallel mindset which is more related with goal-setting.

It is about time to assess and evaluate the things that you need to stop, minimise, improve and start doing. Whether you are making a New Year’s resolution or doing your end-year evaluation or annual corporate planning, you have to go back always on your purpose when you started your business. You may have updated your main objective, often articulated in your vision and mission, years after you have established your venture, but it’s nice to bear in mind the “why” behind your enterprise.

If you have been doing this for quite some time, you can review your past resolutions, goals or plans. If not, you can consider assessing and planning the following areas that can help improve yourself and your business. Choose the most urgent that will affect your venture positively and start listing down your resolutions under those items.

Personal development

As the business owner, you lead your team and your entire business. You also have to grow in parallel to your company or enterprise. What new skills do you need to learn or hone? What are the things you should do to improve yourself as a person and as an entrepreneur? It could be joining EO Melbourne and its various learning activities. Analyse your strengths and weaknesses and focus on areas where you need to exert more effort for your personal development.

Family time

Come up with a specific checklist on what you can do consistently to ensure that you still provide quality time and attention to your family. Having a happy environment at home can also extend to other areas of your life. You can start a new habit in the family that everyone will enjoy.

Business goals and targets for the year

If you have a specific picture of what you want to achieve for the year, list down the particular actions you need to do that will bring you towards those targets. The action items must be very specific so that it is easy for you to do them, monitor, and plan accordingly.

Staff development and company culture

Your internal environs are significant to the success of your business. Take a look at how you can attract and retain good people and endeavour on making your company a preferred place of work for your team members. Maybe you need to restructure your organisational chart or come up with programs for staff development.

Client relations and networking

What should you do to strengthen your relations with your existing clients and expand your network? It could be joining a business group like EO, having dinner with a client once or twice a month, or attending four conferences or conventions during the year. You can also renew ties with old friends you have never seen for a long time.

Finances and systems

Are there areas in your financial operations that need to be improved? If there is any, write down what you will do to achieve better results on the financial side of your business. There may be areas in your operations that need to have a more efficient system for faster and better outcomes. You might want to introduce a technology, upgrade your systems, hire an expert, or study finance-related or systems-related short courses. With IT and automated systems now flourishing in various industries, it would be good to include this in your New Year’s resolutions.

Marketing

These days, marketing one’s brand, product or service go beyond the traditional methods. New media platforms have become important tools in executing marketing strategies and tactics. If this is uncharted territory to you, then you have to familiarise yourself with these platforms and start incorporating them in your business.

Social Causes

This is probably one aspect that you want to be involved in the future. You may not have enough resources yet to support a cause, but you can start planting the seeds of good works by checking some charities or social causes that are close to your heart. You can also volunteer your time and expertise in helping out sectors of society that may be in great need.

Are you ready to welcome the coming year? Face the year 2019 aiming for a better version of yourself, and take your business to the next level. Make your New Year’s resolutions work for you. Look at it on a positive light as something that will add value to you, not burden you. Most important of all, whatever you have listed there, enjoy the exercise of fulfilling them and ticking them off.

How busy entrepreneurs can stay healthy

Entrepreneurs are busy people who have so many things going on in their day-to-day schedules. More often, they devote a lot of time and effort into their business that they tend to push health into the background unintentionally.

Every business person may have a different lifestyle and stress management method, but many of them share a common ground – they absorb a lot of pressure from various directions. Because of their enthusiasm and passion for work, they end up doing more than they can manage, sitting in meetings or on their desk all day working on ideas or challenges, skipping meals or distorting their eating routine, and losing sleep along the way. All these may result in poor health conditions.

But with people depending on them, such as their families, staff, and clients, business owners cannot afford to be sick. A sudden change in lifestyle may be drastic. However, they can take small steps and simple actions that can lead to a healthier way of life.

1.) Exercise your body

When you’re in front of your computer for most of the day, or even if you’re on a plane or travelling for business, you can still do some exercises wherever you are. You can stretch your muscles, take short walks, or change your position every hour or so. The internet is a rich resource of simple exercises that you can do at home or in your office. Choose exercises that you find suitable for you and follow them. Once you inject this in your daily routine, allot some time to hit the gym or jog in the morning.

2.) Take a break – short ones and a vacation

Don’t forget to take short breaks from work every day. Have one in the morning and another in the afternoon, not counting your lunch time. If you spend too much time cooped inside your office or workstation, allow some time to open and look out the window or go outside for some air. It does not only do good to your respiratory system, but it can also clear your mind and help you focus.

And every year, reward yourself with a vacation, where you can recharge and rejuvenate. It’s good to take some time away from work once in a while. The change of environment can do some wonders, especially if you spend it with people you love.

3.) Eat right and on schedule

You’re in a rush, so you skipped breakfast and went straight to work. There are plenty of documents to review, meetings to attend, and decisions to make. Before you know it, you missed your lunch. Or, you ate dinner very late at night. To be effective at work, you have to nourish your body. Eat the right kind of food and have a balanced diet. Also, keep a regular schedule for your meals.

4.) Sleep right

Too much excitement or worry can often cause sleepless nights. With a lack of rest or sleep, it can affect one’s body adversely. Effective time management will allow you to allocate six to eight hours for sleep each day, keeping you alert and energetic for the rest of the day. When your body clamours that it’s too tired, take a nap or simply take some rest.

5.) Interact with friends and loved ones

Have a friendly chat with your teammates at work, go out with friends after office, join organisations like EO Melbourne, or spend time with people who make you happy. Studies and researches were conducted indicating that social interaction has positive effects on one’s health. Surround yourself with people who can enhance your creativity, positivity and energy so that you can channel these back to your life and your business.

6.) Do something you enjoy

Go to a spa, get a massage, join a marathon, play your favourite sport, play with your kids, read a book, listen to music, cook a meal, take a swim, or learn a new hobby. Do an activity that will not only boost your energy but will also bring joy to yourself. When you enjoy what you do, you will be keen to make it part of your regular habit, and you look forward to doing it more often.

As the year comes to a close and a new year is about to begin, it is best to review your lifestyle and plan how to steer it towards healthier living. Put wellness as an important part of your life and entrepreneurial journey. Most of all, do it with people you love to motivate you to keep going.

Holiday feasts for your dining table (and your business)

The holiday season is upon us, and it’s time to do some grocery shopping in preparation for the parties, luncheons and get-togethers. As you plan your menu for the lunches and dinners, consider how the usual holiday fare can also bring you insights and tips for your entrepreneurial journey.

The Australian Christmas feast is a combination of local culture and influences from the UK and the US. But what makes Christmas in this side of the globe different is that it coincides with the summer season. Check some of the common dishes that take centre stage on the dining table at this time of the year.

Cold ham and cold turkey

Going cold turkey, not the idiomatic expression, is a practice in Australia during Christmas. Because of the summer weather, people often forego the traditional hot roast menu and opt for cold ham and turkey and some cold meats.

Serving ham and turkey has been a long-lying tradition in many civilisations back, symbolising harvest and fertility. Folklores indicate that during the olden days, people had to catch the animals for a banquet. It has evolved over the years and become part of the modern Christmas custom. Similarly, you have to run after your targets. It takes a lot of hard work, but the rewards can be satisfying.

Prawns, seafood and salads

In Australia, prawns and seafood are part of the holiday feast. Plump shrimps will whet your appetite and add a festive feel to the meal. Sometimes, you will also find crayfish, lobster, oysters and crabs during this special occasion.

For your business, gather your biggest catch amidst the turbulent waves. Allow fresh ideas to flow so that you can haul a bountiful yield for your enterprise. There are wonderful surprises beneath the challenges. If you get creative enough, you can turn problems into opportunities.

Christmas damper 

The damper is an Australian bread that has an interesting background. Labourers and farm workers who travel long distances are believed to have developed the damper, which they cook in the coals of a campfire. Now, it becomes part of the festive meal. Usually, it comes in the shape of a star or wreath and often served with honey, syrup, jam or butter.

It is a type of food that traces its origins in an environment of survival. There may be difficulties ahead, but you can pack heaps of patience and determination on your entrepreneurial journey to make your business last. And when it things gets harder, find yourself a "camp" that can shelter you, such as friends, peers, or business groups like EO Melbourne.

White Christmas

Don’t you love to have a slice of sweet White Christmas as a holiday treat? It’s a mixture of dried fruits, cereals, desiccated coconut, milk powder, and icing sugar bound together by hydrogenated coconut oil, such as Copha. The colours of the different ingredients create a rainbow of delight in this white bar.

Like the raisins, dried fruits and cereals, count the small blessings in your business and be grateful to how they contribute to bigger successes.

Gingerbread 

Gingerbread cookies are among the constant Christmas features in Australia. Gingerbread houses, which often come in kits, are decorated in colourful candies. Families love to create these cookies in various Christmas shapes and decorate their tables with it.

The family is important in your business. Your family’s support is crucial as you run your venture as they have to understand the demands of your role. Make sure that you allocate quality time with your family. With regards to the work environment, it works for some business cultures to keep the family spirit within their team. Determine if this is something that is also applicable to your business.

Christmas pudding

What makes pudding a great Christmas fodder is its longevity. The ingredients include raisins, ginger, brandy or rum. The Christmas pudding can last for months or more because of the high alcohol content incorporated in the food.

In handling your business, you also need to have an ingredient that can sustain your operations and make it last for years. Whether it is your corporate culture, team composition, management style or operating system, you need to identify the factors that help preserve the efficiency of your venture in delivering goods and services to your customers.

Pavlova

The meringue dessert Pavlova was named after the Russian ballerina Anna Pavlova. This egg-based dessert has a crisp shell while its centre has a soft marshmallow-like texture.

Eating a pavlova is like enjoying two things in one: crunchy and chewy. It is every business owner’s wish that his venture has good internal and external environs. Endeavour to establish a formidable image that can be trusted by your external stakeholders and a strong structure that can keep your internal stakeholders together.

Mince pie

Another British legacy is the mince pie, which is prepared originally with meat inside. Over the years, the ingredients have changed, but remnants of the old tradition still linger to this day. It is part of the custom to make a wish on the first mince pie during the holiday season. It used to have a religious connotation, and it signified good luck and happiness.

You also need to have a regular dose of your proverbial “mince pie” by remaining hopeful amidst adversities. Nourish yourself with positivity and persistence throughout your entrepreneurial quest.

Mangoes, cherries and other fruits

Fresh fruits are always refreshing to eat. Since Christmas in Australia falls during the summer, families include fruits, especially mangoes and cherries, in their holiday meals.

Fruits remind us that there are instances when the best approach is going back to the basics. Simplicity is often the right way forward. Streamline and eliminate whatever is unnecessary in your business and focus on what’s most important.

As you feast on these holiday treats, enhance the strengths of your venture and work on your weaknesses so that you keep getting better for years ahead.

Best cities for business travel

Progress is taking place simultaneously in various parts of the world, and more and more places are growing at an accelerated rate. With all the modernisation and development in cities, many of them become great destinations for business travel. Business trips demand a lot of needs. Whether you travel for meetings, conferences, events, exploration, professional development, networking, company visits, attending EO activities, or incentives, it is important to pick the right place for such important transactions.

They say, go where the business will take you, but if you have a choice when it comes to business travel, there are factors to consider when selecting a place. These are availability and frequency of flights, complete amenities like venues, accommodations, emergency facilities, and restaurants, communication and connectivity, cost, and safety and convenience of travellers.

Travel experts, publications, media, research groups and business entities have come up with lists of places to go for business trips. They have their respective criteria and reasons for picking their destination choices. We find that there are cities that always make it to such lists, so we’ll narrow down and share with you a few names, representing the various regions around the globe.

Sydney, Australia

Starting in Australia, Sydney is among the top destination choices of business travellers and corporate events groups. The city has a modern convention centre, iconic structures, vast flavours and rich cultural vibe. For those who plan to extend their stay, Sydney is the gateway to many Australian adventures, including national parks and nature trails.

Singapore

In Asia, Singapore always comes up in the list of business travel destinations. It’s a hub, so there’s plenty of flights to and from this modern city. Progress and development never seem to stop in this tiny country. There are world-class hotels and amenities, a mix of cultures, and it’s easy to get around. English is also widely spoken here, which makes it easier for travellers to transact their business.

Hong Kong and Shenzhen, China

China is gaining more and more popularity for business travellers. Hong Kong always make it to the lists, especially that many companies have their regional offices in this city. Hong Kong has it all, with its spectacular views and delectable cuisines. It is also a shopper’s haven, ranging from luxurious brands to great buys. Shenzhen is a pleasant addition, although it is not much of a surprise because of its proximity to Hong Kong. It’s a cheaper alternative to Hong Kong, and the city is innovating, drawing businesses to its fold.

Orlando and Miami, Florida, USA

Although New York and California are popular among travellers, whether it’s for business or leisure, Florida is also gaining ground because of its weather and location. Miami, for one, is favoured because of its beaches. It has thousands of hotel rooms that could accommodate large delegations. Orlando, on the other hand, is regarded as one of the US cities that are best equipped to host business events and provide efficient business travel experiences.

Toronto, Canada

Toronto is the biggest Canadian city, which is home to various offices and financial services. Travellers who come here primarily for business can also enjoy some shopping time. Other than that, there are plenty of attractions activities in Toronto, including taking a ferry ride at Lake Ontario.

London, UK

The British capital is also one of the leading financial centres in the world, which is why businesspeople from all over the world would find their way to London. Many top multinationals have offices here, which makes it even more attractive for businesses to hold their meetings and transactions in London. An additional factor is its colourful history and culture.

Rio de Janeiro, Brazil

If you plan to conduct some business travel in South America, Brazil’s Rio de Janeiro is gaining attention because of its growing economy. More than that, its beaches, energy, culture and tourist spots, such as the iconic Christ the Redeemer statue, have been attracting travellers from different parts of the world.

Mexico City, Mexico

Mexico’s Aztec civilisation and fascinating past have drawn travellers to its capital, Mexico City. Manufacturing, pharmaceuticals, consumer products and financial services are industries that are thriving in this city. Business travellers can enjoy more of Mexico after their business meetings because of the many attractions and activities that could interest them.

Although business travel is done primarily to enhance your venture and professional capacity, places that have a local charm can also lure corporates and entrepreneurs to their borders. Business people can also learn an insight or two from these populous cities on the dynamics of culture and market behaviour as they blend in with the locals. As a bonus, they get to take a bit of a break and enjoy the sights and experience the vibe of the places they visit.

Disruptive innovation 101 for business owners

The term “disruption” or “disruptive innovation” is something you would hear at times in the business world. The adventurous are attracted to it, while the cautious may try to avoid it. There are those who created disruptive innovation without them foreseeing that their idea, product or service would create a disruption to the status quo. But what is disruptive innovation?

American scholar Clayton Christensen came up with the theory and coined the name “disruptive innovation”. Now, it is used widely in the business sphere, especially with fast movements in markets and new ideas that break conventions and set trends.

What is “disruptive innovation”?

Disruptive innovation has the following attributes, particularly in its early stages: simpler products and services that may not seem desirable solutions as to the existing ones, smaller target markets, and lower gross margins. In other words, it provides simplicity, accessibility and convenience to more people, especially those belonging to the lower end of the market.

It is an innovation in business wherein it creates a new market and value that unsettles the established industry players, which is considered as the mainstream. According to Christensen, “It transforms a product that historically was so expensive and complicated that only a few people with a lot of money and a lot of skill had access to it. A disruptive innovation makes it so much more affordable and accessible that a much larger population have access to it.”

To create a disruptive innovation is a huge risk. But it may have big rewards if it becomes a success.

What it’s not

Disruptive innovation does not refer only to a breakthrough that makes good products a lot better. Rather, it refers more to the business model wherein the technology disturbs the market. It is different from sustaining innovation, which improves a product but does not affect the existing market.

It does not refer to a particular fixed point because disruption is a process. Products and services evolve, as well as business models and markets. The attributes cited above are some of the factors to consider one as a disruptive innovation.

Examples of Disruptive Innovation

• Wikipedia. Gone are the days when you have to buy sets of hard-bound encyclopaedias at a high cost, wherein their information could become obsolete over time. Now, information is at the tip of your fingers, and they are available for free. Plus, they are updated and verified constantly.

• Smartphones and tablets. From mainframes to minicomputers to personal computers, computing hardware has become smaller and smaller, making it more portable and accessible to lower-end markets. Similarly, from telegraph to telephones, communication has become faster and more available to a larger populace. Smartphones and tablets have merged computing, documentation and communication into one. Now, its applications are changing the game in the world of communication, business, education and entertainment.

• Airbnb. Hotels and inns used to be the main source of accommodation before. When it comes to selecting places to stay, quality seemed to be proportional to cost, providing limited options to those who prefer comfort and budget. Airbnb changed that as it allows private individuals to rent out their homes, apartments or rooms at affordable prices, creating a dent on the hospitality industry.

• Netflix. Movie streaming, instead of collecting or renting piles of film discs, is now becoming a household norm. Netflix is changing the landscape of the home entertainment scene. From video tapes to DVDs, more and more people subscribe to Netflix or streaming apps and watch a wide array of movies on their smartphones, tablets, computers, and even on televisions, at a very low price.

• Skype. Communicating across countries used to be expensive and difficult. Skype transformed that and paved the way to chatting, calling and video calling, at no or very low cost. It also allows file sharing to its users.

• Amazon. Shopping has become more convenient without you leaving the comforts of your home. Amazon started with books and grew to various items. Now, it offers almost anything from A to Z. It also opened the market to individual sellers and emerging brands, allowing more producers to bring their goods to consumers while providing more choices for customers.

• Virgin. When it comes to air travel, Virgin has redefined it as not just a mode of transport but an experience in itself. Virgin keeps on changing the business landscape of the airline industry, even extending itself to entertainment, providing a revolutionary customer experience that continues to improve and develop.

A few years from now, we’ll never know how we’ll do things and what the trend would be. Businesses continue to come up with new ideas and methods that change people’s lives. More importantly, because of disruptive innovation, it allows small players to enter the game and change the rules. In the end, consumers end up as winners as they get more choices that are good value for their money.

Forming and keeping the right team for your business

Having the best team for your company is one of the major factors of success that enables you to achieve your business goals. On the other hand, the opposite of this, such as getting the wrong people on your team, has always been cited as one of the biggest challenges and disappointments of business owners. In short, the right set of people plays an important role in bringing your venture to its peak.

The first step is to select the people who will fit in your team, depending on your needs and preferences. However, you can only determine such over a period when you will see the dynamics of the members among each other and to the whole group. Once you have a good set of staff, you need to find ways to nurture them and retain them in your team.

Finding the right fit

The selection process should be able to capture the background of the candidate, including his or her attitude, work ethics and values. You have to ascertain how his personality and skills will be able to complement your company and blend with your current staff members.

Culture and Attitude

Before you start the recruitment, define first your corporate culture and match the attitude you are looking for in an applicant that would fit your work environment. What are the qualities and values of a team member that you want to have in your organisation? It is best to have several face-to-face sessions with your applicants during recruitment so that you can observe how they react and behave and how that will blend in your work culture.

Organisation needs and Skills

How an employee fits your corporate culture matters most. But it is also important that they have the right skills set for their roles in the organisation. If they don’t have the expertise you need, they can at least learn fast and hone the skills needed for the job. Identify those skills in the job description so that you can filter the applicants according to your requirements.

Benefits and Expectations

When you have identified the qualifications you prefer in a candidate, come up with a competitive remuneration package that will attract such a candidate. Know their expectations while you also lay down what you require and can offer for the job.

Nurturing those who fit

Getting the right people on your team is just the first hurdle. The more challenging part is retaining them in your business. Changes occur that may affect their length of stay or tenure. There are internal and external factors that can disrupt the status quo and shake the team you have formed. Business owners come up with initiatives to strengthen its human resources.

Employee Engagement

One way to sustain the interest of your people in your business, you have to engage them and create open communication lines. It also includes providing activities that can help channel their various talents and interests that can benefit them and your organisation.

Recognition

Recognising the contribution of your team members will boost their morale. You can bestow the recognition formally or informally, as long as you let them know that you appreciate their efforts. Come up with a reward system to motivate them to keep giving their best.

Growth and Development

It is but natural for staff members to look for growth in any given environment. Enhance their skills and allow them to experience and learn new things within your organisation. Provide workshops and training and learning activities that could improve their personality and enable them to attain a holistic development.

Most of all, it is good to establish good relationships with your team. The achievements of your business are not due to one person alone. Even if you have a star player in your team, it is the support of every member of the group that can help you make a score and achieve your goals.

Common mistakes entrepreneurs commit at startup

Many people believe that for them to learn the ropes of running a business they have to make several mistakes. Moreover, there are those who subscribe to the idea that they have to commit the mistakes themselves. It is true that experience can make you remember the lessons more as compared to simply reading them from books. However, although one can learn from such situations, a mistake can be avoided by leveraging on the experience of others who have done it before. Such is the beauty of EO.

Some of them started young, not having enough time to fully prepare themselves for what lies ahead on the entrepreneurial path. Others consider themselves as accidental entrepreneurs, discovering a profitable venture by indulging themselves to their passions. It was inevitable to experience slipups, oversights and missteps in their journey. But one doesn’t have to go through all of those blunders to learn and do the correct thing moving forward. EO Melbourne members share the mistakes they did in the past that become valuable lessons for them and others.

Common mistakes were related to people, finances, decision-making and strategy. Most of these errors were committed during the early stage of the business. It may not be a guarantee that you will not have any lapses along the way, but you can lessen the pain if you only heed to the warnings and lessons of those who have done it in the past.

People

• Hiring the wrong people – Business owners tend to hire staff based on skills than culture fit. It may cause problems in the long run. No matter how skilled a person is if that member does not have the values and work ethics appropriate to your business, then that can lead to conflicts. Related to this mistake is hiring the wrong people too fast and firing them too slowly.

• Putting too much trust on the wrong people – Partnerships break apart, embezzlement happens, and executions fail because too much trust is placed on the wrong people. Listening to people who have never run a business is listening to opinion than facts. While trust is important in a business, one must always have a safety net in place to lessen the negative impact of a relationship gone sour.

• Not surrounding oneself with a team of experts – Engaging with people who are better than you can help you with your development as a business leader. There are communities, such as EO Melbourne, where you get to learn from experts and apply their lessons to your experience.

• Over committing to clients – During the initial years of the business, there is the trap of saying yes to everything, in the hope of getting as many sales as possible. There is a tendency to over-promise to clients and customers, even when there are not enough resources to deliver them efficiently. It can upset customers, which can cause more harm than good.

Finances

• Taking a huge financial risk or being overcome by fear – One of the missteps entrepreneurs make at the early stage of the business is going aggressive with expenditures. The opposite, which is scrimping on necessary things that will allow the operations to go smoothly, can also be dangerous. Sometimes they put too much capital on products that are untested. On the other hand, they tighten their belt that they end up offering low-quality products or services.

• Not knowing the numbers – A business owner can hire an accountant or someone expert on the finances, but it is still an advantage to understand the cash flow and know the financial books. Having no knowledge of such can be a flaw to your business.

Decision-making and Strategy

• Having no expertise – Another faux pas is establishing a venture where the owner has no expertise, or they expand their business to areas where it is poles apart from their core business. At least familiarise yourself on the ins and outs of the industry to have a big picture of the environment you are entering.

• Deciding things late – Several business owners regret not starting sooner. Time is of the essence and holding off important decisions may affect your business. Others do not fully commit to their business 100% until a problem arises. Some suffer an analysis-paralysis syndrome because they overthink concepts instead of executing them.

• Lack of preparation – Certain businesses start without any vision, mission or business plan. Entrepreneurs can save a great deal of time, money and effort if they do market research, trial and testing and pre-marketing initiatives at the early stage of their venture. Similarly, a growth strategy must be in place, which includes honing one’s skills and those of the team members. It also includes not fixing the proper documents, such as agreements, contracts, and licenses.

Online games that promote entrepreneurship

Not many may understand the state of most business owners unless they experience the entrepreneurial journey themselves. But with the onset of technology, people of different ages and from all walks of life can have a glimpse of the challenges of the business world through online games. Not only are they fun to play, but they also promote certain skills needed in running a venture.

One, these games enhance the brain to come up with strategies to get to the next level or reach the goal set in the game. Two, playing such games allows one to develop discipline, patience and perseverance, even in a virtual setting. Three, they enable players to make smart decisions, particularly when it comes to taking risks, spending and investing. Lastly, they teach you how to overcome challenges like competition, bankruptcy, recession and disruption in the market and the industry.

Such games are great, especially for newbie business owners. They are also good educational tools for young ones, as well as a refreshing experience for those who have been on the journey for some time. The good thing about modern games nowadays is that they are mobile and downloadable from app stores, so you can enjoy playing them wherever you go. You can choose from a wide selection that is available online, including different types of industries you want to enter, such as food, real estate, shipping, hospitality, retail, and a lot more. Below are a few examples of games you can play that will hone your entrepreneurial skills.

1.) Monopoly GO!

Based on the popular board game, Monopoly GO allows players to buy properties and rent them to their opponents. The goal is to have the most money in the end, so you have to invest your money wisely to avoid bankruptcy.

2.) RollerCoaster Tycoon

Build your dream theme park with various rides and attractions to choose from. Manage your park well, delight your customers with your various offerings, and keep the revenue coming.

3.) Business Tycoon

What’s good with this game is that you can start from a small business, such as a bookstore, and make your way to the top as a business tycoon. Establish several ventures, make them profitable, and earn millions along the way.

4.) Virtual Businessman Luxury Life

Before you can even enjoy the life of a billionaire, you have to build a startup company, set up an office, invest money, and trade and compete in the international market. Through this game, players can learn investment methods to earn a profit that they can splurge on luxuries.

5.) Virtonomics

This business simulation game is like your workshop to entrepreneurship. In this virtual economy, you can establish a fully functional enterprise that you can grow and manage.

6.) Capitalism

Invest your money in the stock market, earn profits from bonds you buy, and grow your finances through real estate. All these you can do in this online world of Capitalism. Watch out for recessions and attacks from the competitors or you might lose your investments and earnings.

7.) Business Inc.

This simulation game is almost realistic where you can hire employees, handle projects, take risks to meet your goals, and build your business empire. You have a business to run, an office to manage, and a reputation to uphold in this virtual world.

8.) Game Dev Story

How does it feel playing a game where you own a game company? Assign and change the profession of your staff, develop a game and bring your business to success. However, there are other important things that entail running a venture like this. Licensing and contracts are part of the whole process, which you can learn by playing this app.

9.) Retail Boss

Keep an inventory of your goods, market your store, watch out for costs and price changes, hire staff, and let your shop grow into a global megastore. It takes a good strategy in choosing the right location and people for your team.

10.) Big Business Deluxe

The city is growing and so must your business. Do everything you can to avoid the red bottom line while you scale your venture for bigger opportunities. It includes expanding your territory, handling challenges, and keeping yourself ahead of the game.

These are other apps you might want to check out, such as Pewdiepie’s Tuber Simulator, Taps to Riches, Landlord Real Estate, Cash Inc., Trade Island, Money Tree City, Biztopia, Café Management, Adventure Capitalist, Startup CEO Entrepreneur, and Emoji Craft. There are millions of games you can choose in online stores that you can play on your computer or mobile phone. Apart from business-related games and apps, there are other simple games you can play that can take your mind off work, relieve you from stress, and release all your frustrations. Bring the game on!

Holiday gift ideas for clients

The holiday breeze is just around the corner. Christmas reunions, year-end parties, decorating and gift-giving will once again fill our calendars. As a business owner, this is the perfect time to show appreciation to people who have helped us throughout the year. It is the season to renew ties and strengthen bonds.

A good gesture to thank, greet or appreciate someone, especially a client, is through giving them with something that will remind them of the friendship or relationship they have with you. But with so many people to thank who have varying interests, gift-giving can be a tedious task. To simplify, here are some steps you can take before you choose the right item to give to those on your list.

1.) Create a list

First, list down the people you want to give gifts this year. Categorise them into groups, such as staff, suppliers, clients or VIP customers. They can also be your prospects, friends in the business, or peers from your business organisation, like EO Melbourne. It’s easy to check if you missed someone on the list when you arrange the names in groups.

2.) Set a budget

To avoid overspending, set a budget for the different groups or categories. You will have an idea of how much you need to set aside for gifts if you have a list and a budget. It will also help you choose the right items to give when you have a price range in mind.

3.) Know their needs and wants

Some people are fed up receiving socks or generic gifts. You have to put a lot of thought on the things that interest them or items that they would find useful. Let your gift express your sincerity to the person, especially if it’s a client. Don’t make it too commercial as it might lessen the value of giving.

Now, once you have done those things, it’s time to do your shopping. Here are items that you can consider as gifts to your clients or business friends that could make their holiday season a meaningful and memorable one.

Office items

Most people spend a lot of time at work. Thus, it is always smart to bestow people with presents that they can use in their office. Some of these objects can be:

• personalised pen set

• terrarium for office plants

• coffee table book

• notebook

• Kindle

• coffee-making set

• miniature zen garden

• noise cancelling headphones

• square card reader

• portable scanner

Home pieces

Business people also want to have restful moments at home. They want their abodes to have a comfy and clean ambience. Gift suggestions for the home are:

• tea set

• gift basket

• bluetooth speaker

• portable vacuum cleaner

• sleep tracker

• air purifier

• lamp

• smoker grill

• eye mask

• electrically heated foot warmer

Travel stuff or for those on the go

Travelling is one of the favourite activities of busy people, whether it’s for business or pleasure. If your clients are always on the go or they love to travel, these items will suit their taste:

• wireless phone charger

• handy camera

• tripod

• laptop bag

• backpack or suitcase

• sunglasses

• universal travel adapter

• travel pillow

• power wallet

• compact wide-angle lens for smartphones

Wellness elements

People nowadays are putting a more conscious effort in taking care of their body. Your clients do not need to be active in sports or any fitness-related activities for them to receive the following gifts:

• hydro flask

• incense kit

• activity tracker

• spa treatment

• balance ball

• essential oils

• yoga mat

• ergonomic pillow

• essential crystals

• scented candles

Objects for their hobbies

Your client may be sporty, a collector, or outdoor lover. There are plenty of gift ideas depending on his or her interest. These are just a few examples of objects related to some hobbies that may delight your business friends:

• personalised golf balls

• luxury watch

• portable cooler for fishing and camping

• garden set

• toolkit

• business book

• online classes

• beer brewing kit

• apron with embroidered messages

• baseball cap

When you give these presents, don’t forget to have a handwritten note attached to it. As they say, it’s the thought that counts, so make your message warm the hearts of your recipients so that they remember you through your gift. Making them smile is the greatest affirmation that they appreciate your deed. So, enjoy shopping and have a happy holiday season!

5 ways entrepreneurs relieve their stress

Business owners choose the entrepreneurial route because it affords them the freedom to create and chart their path. However, the flipside is the responsibility that goes with the role. Hiring people meant being accountable to his staff’s livelihood. As a business leader, he has to steer his team towards bigger things. As the person behind his business, he has to deliver his brand’s promise to clients and customers.

With goals to achieve, targets to meet and tasks to accomplish, entrepreneurs often find themselves in a pressure cooker where stress comes from different directions. Stress, if not managed carefully, may affect one’s well-being. It may result in body pains, illnesses, anxiety, depression, or physical, emotional or mental ailment.

Some EO Melbourne members have revealed how they relieve the stress that comes with the role and what preoccupies them outside of work that motivates them to keep going.

1.) Time with family and friends

The family is the primary reason that motivates business owners to push themselves forward. They find fulfilment in providing for their families and partners and keeping them happy. For entrepreneurs who have little kids, they prefer to be present during the formative years of their children. Spending quality time with their families and loved ones is a priority for most business owners.

Busy entrepreneurs also de-stress by socialising and going out with friends. Often, it would be through enjoying great food or having a few drinks. They would often surround themselves with like-minded individuals, such as their peers in EO Melbourne, where they share and listen to experiences of other entrepreneurs whom they trust and respect. Such stories inspire them to make a mark and boldly go.

2.) Travelling to other places

Going for a holiday is the most liked activity of entrepreneurs that could help take their minds away from work and recharge themselves. Most of them travel with their families, which makes the experience even more satisfying. Others love the outdoors, and they would often set aside time for a short getaway to go camping, fishing or visiting their farm.

3.) Physical activities

Sweating it out is also a good way to free the body and mind from the pressures that come with the role of being a business owner. Because of their busy schedules, the only way for most entrepreneurs to de-stress is to hit the gym or do some exercise. There are a few that spend their mornings or weekends running or cycling. Taking up a sport is also one of the things other entrepreneurs do to refuel. Some are involved in snowboarding, skiing, swimming, surfing, motorsports or golf. But for those who are not very sporty, they find delight watching their favourite team or cheering for their kids playing.

4.) Honing the mind

Meditation is one of the activities that a lot of business owners have been doing to clear their minds. Some entrepreneurs take themselves off the grid, keep themselves away from their gadgets and TV, spend a quiet moment reflecting, or rest their bodies and minds through enough sleep. They have their respective ways of doing meditation, and you can do one that you feel is most effective on you. Many business owners quench their thirst for learning as they indulge themselves in things that can improve themselves. It’s often by reading books or listening to podcasts to learn new things.

5.) Refilling the senses

Getting a hobby is another way for entrepreneurs to free themselves from stress and enrich their holistic development. There are business owners who are into arts as they listen to music, watch movies or attend performances. There are business owners who find enjoyment through cooking or simply having a glass of wine. Several business owners feel more relaxed when they do some gardening, make improvements at home, or play with their pets, while others love to collect items or acquire new skills. You can also find some entrepreneurs who are involved in charitable works and non-profit projects.

In the end, many of them admit that they get the most enjoyment from their work. It’s because business owners love what they are doing. Reaching their goals and receiving appreciation from their customers, clients, peers and staff are the great rewards that entrepreneurs reap from the hard work and dedication to their craft. Seeing their loved ones, team members and clientele happy is the best stress-reliever there is for every entrepreneur.

10 items you may find on an entrepreneur’s desk

There are studies conducted that one’s workspace or office desk reflect the personality of the person behind the desk. Entrepreneurs have different styles of running their businesses, and they may have varying methods on how to dress up their work tables. It may sometimes depend on the layout, design and culture of your office, but you can inject a few things that will leave your mark on your territory.

Some may adopt a minimalist design, while others would prefer to fill their offices with items that can stimulate their thoughts and creativity. Nonetheless, no matter what kind of personality you have and despite your preferences on the upkeep your workstation, you will see the following items on the desk of some business owners. You might also find a few of them useful or handy to have on your table.

1.) Computer

In this day and age where technology allows things to happen at a snap of your fingers, a computer is a necessity at work, regardless of the industry you belong. Entrepreneurs need computers to get into the various systems within their businesses. They have to use it to read emails, send out messages, check files, create presentations, review financial records, and browse the web.

2.) Phone

Whether it’s a landline or a smartphone, customers look for a number that they can contact for various reasons. Having a phone on your desk means you are accessible to your team, partners, clients and suppliers. With many smartphone apps, it also becomes the extension of your computer and your office, especially when you are always on the go.

3.) Pen

Even when most people record things on their computer, tablet or smartphone, a pen will never go out of style. It is important when jotting down notes or signing vital documents. Having one on hand is useful when you suddenly want to put your thoughts on ink. Others incorporate it as a decorative piece on their desk.

4.) Notepad/Paper

Nowadays, many companies are going paperless. But you’ll still need paper to scribble and put your thoughts into something tangible. Maybe you want to leave a note to your team or put a reminder on your desk for yourself or label your files. Nonetheless, having a notepad or notebook where you can write down important things always come handy.

5.) Calendar/Planner

The best way to stay organised is to have a checklist of things to be done for the day or week. You also have to keep tabs of things that will be happening that is crucial to your company’s operations. A calendar or planner is where you put important updates and reminders to help you plan and execute.

6.) Clock

Time is of the essence. While your computer or your phone may have a built-in clock, there is a charm of having a table clock placed on your desk. When things get too busy, it will help you keep track of time and remind you of the next thing to do, including taking a break or having a breather from all the flurry of things.

7.) Mug

Sitting and working in your workstation all day can often be tiring. You need to hydrate yourself with a glass of water or a cup of coffee. Having one nearby reminds you to refresh yourself throughout the day.

8.) Books

As you nourish your body, you also have to nourish your mind. Books that can give you new insights and ideas are helpful in providing more knowledge to improve and develop yourself and your business.

9.) Memorabilia/Photos

Others say that the fewer things you have on your desk, the more productive you become. However, the more you personalise your work area, the more empowered you feel. Given that, it is always nice to have something that can inspire you and make you smile. It can be a photo of a loved one, a trophy of your last achievement, or a picture of your ideal place.

10.) Plants

Plants produce oxygen that you need so you can breathe and relax. They have a soothing effect to the environs, and it can help relieve you of the stress you may feel at work.

Entrepreneurs spend several hours a day on their workstation. It is helpful that your desk and whatever are on it correspond to your work style. Make your working space comfortable enough so that you spend your day happy, motivated and productive.

Using hashtags on social media for your business

The use of hashtags (words preceded by the pound # sign) is now a commonplace practice in various social media platforms. It was first popularised on Twitter until it is widely used in other social networks as well. How do you take advantage of hashtags to market your business?

Hashtags are presently included in marketing strategies to promote products, services, brands or events due to its rising popularity. Because they narrow down topics for discussion, hashtags make it easier for users to search and sift through words and subject matter. It also increases engagement and visibility for your brand.

To know the right hashtags to use, you can check the trends and topics relevant to your business by verifying analytics and reports from RiteTag, Sprout Social, Trendsmap, or other sites that curate information on hashtags. You can also see the insights from your Twitter, Instagram and Facebook Page accounts to see the demographics of your visitors and the data of your reach.

Popular hashtags for entrepreneurs

A quick look at RiteTag on hashtags related to small business reveal the words that you can use so that your venture can be seen now. These are #business, #marketing, #socialmedia, #entrepreneur, #startup, #work, #seo, #leadership, #success, #media, #facebook, #sales, and #digitalmarketing. But for online users to find you over time, you can use hashtags like #smallbusiness, #tips, #smallbiz, #smallbusinessowners, #sme, #owners, #website, #productivity, #smallbusinesses, #businesses, #ceo, #ideas, #reasons, #today, #infographic, #budget, and #smb.

Finding niche hashtags

If you want to be specific to your niche industry or market, whether it’s food, technology, beauty, travel or real estate, you can use hashtags that are popular in that segment. You can refer to the hashtags that influencers in your industry use so you can get an idea of trendy hashtags people use and follow. Another good tool is Hashtagify.me, which shows related hashtags and top influencers in a particular topic.

You can also use your business name or brand as a hashtag. Others base their hashtag on their tagline, or they create one to generate discussion among their followers and customers.

Other tips in using hashtags

While it is helpful to use hashtags, there is also danger when you overdo it. Limit the use of hashtags, especially on Twitter. On Instagram, the maximum allowable number is 30 hashtags per post. Different social networks have different cultures and behaviours, so you should not copy-paste your post across all platforms. Customise them according to what’s trending in that social media site.

Apart from hashtags related to business and entrepreneurship and anything relevant to your industry, you can also include hashtags popular for a particular day of the week, such as #traveltuesday or #foodiefriday. If there are special occasions, create a hashtag for that as well.

Again, a hashtag is all about trends. There may be a new one the next day. So, keep your eyes and ears open. Do your research on the latest discussions online. Be active on social media. Know the interests of your customers and target market. That way, you can reach out to them and communicate with them better.

10 Misconceptions on entrepreneurship and business owners

The entrepreneurial road is full of surprises, and you will never grasp the full extent of it unless you take it yourself. People have entertained different notions of entrepreneurship. Some of them may be close enough to the truth while others are far from reality. Nonetheless, it is best to know straight from business owners themselves about the bigger picture that the entrepreneurial journey entails.

If you read through the previous posts, you will find that most of the misconceptions on entrepreneurship and business owners are not always true. EO members who shared their stories cleared the air and narrated what happens behind the scenes. Depicting the various facets of running a business, good and bad, will help aspiring entrepreneurs who want to embark on this journey see the entrepreneurial world from different angles.

1.) Business owners make loads of money

One of the main problems entrepreneurs constantly face is cash flow. It is not only because they put in their money to start and run a business but mainly due to the huge responsibility that comes with it. The real challenge is making sure that they provide for the people who work for them. More often, entrepreneurs are the last to get paid or end up not getting paid because they have to prioritise their staff and other things to keep the business going.

2.) The entrepreneurial life is glamorous

Others associate entrepreneurship with luxury and extravagance. Newsflash: it’s not a red carpet walk at all times. In truth, many business owners describe it as a path filled with peaks and troughs. It’s a rough challenging journey. However, because they love what they do and are passionate about it, the rewards for them are priceless. They find fulfilment in creating something, achieving goals and seeing their business impact people’s lives.

3.) Entrepreneurship is easy

Contrary to what others believe, running a business is a tough thing to do. Otherwise, the majority would be on it if it were too easy to do. Business owners have to make difficult decisions at every stage of the business, from startup to scaling it. Certain businesses fold up and don’t make it to the five-year mark. Entrepreneurs have to contend constantly with internal issues as well as external factors that can adversely affect the business.

4.) Success comes overnight

While a lot of people think that success in entrepreneurship comes quick, it takes many years to plant the right seeds to bear the fruits of one’s labours. There are those that grow faster than the others, but it doesn’t mean that it happened with a flick of a finger. There are also several dynamics that come into play before an idea becomes a reality.

5.) Entrepreneurs are lucky

Entrepreneurs succeed not out of pure luck. They may get some help here and there, especially with a good team around them, but most of it is because of their boldness to take risks and determination to keep going despite the odds. They have the drive and the passion for their chosen path that makes them persevere despite the heartbreaks, frustrations and disappointments.

6.) Entrepreneurs have no boss

True enough, an entrepreneur is his own boss, but it doesn’t mean he is not accountable to anyone. He is answerable to the numerous customers and clients that his business serves. Many business owners rarely switch off. When they are not doing work, they still think of their business most of the time. When the going gets tough and the tough gets going, they cannot easily walk away from it all.

7.) A successful business is smooth sailing

The entrepreneurial journey has been compared to a floating swan or riding a bike. Others think that once it starts running, everything will be effortless. But as the business progresses, more and more challenges surface and new problems arise. Sacrifices have to be made along the way, may it be in their business or personal life. Underneath the graceful picture of a swan on a lake is the relentless paddling of its feet to keep it afloat.

8.) Entrepreneurs have all the answers

Business owners also commit several mistakes and have to struggle with various concerns. They often hit a blank wall. That is why most of them cite the need for building a strong team and surrounding themselves with like-minded individuals. They acknowledge the importance of continuous learning, which many of them find in EO. Being part of EO Melbourne enabled them to gain new insights from the experiences of other entrepreneurs through the forum and learning events.

9.) Entrepreneurs are self-oriented

Entrepreneurs start a business because they have experienced or seen a pain point. They have recognised a problem in society that needs a solution. Others would think that business owners are always after profit, which is not always the case. They stay long on the journey because they find purpose in what they do. They often worry about money because they are responsible for their staff and the families that depend on these people.

10.) The entrepreneurial journey is all awesome and fun

Although the journey is fun for many entrepreneurs, it’s more of a roller coaster ride that is full of ups and downs. It can be a dizzying ride, with quick movements and sudden disruptions in the industry. There are smiles, laughter and adrenaline rush, as well as sweat, blood and tears that are poured into the business.

Knowing the stories of other entrepreneurs give us a deeper perspective on what is in store in the entrepreneurial journey. It’s not all bed of roses. Yet, it affords you the opportunity to be creative and chart your own path. If it is something that you believe is right for you, equip yourself with passion, patience, persistence and perseverance to overcome all challenges that may come ahead of you. When doubt sets in, it is better to hear it straight from entrepreneurs who have already taken the journey and learn from their experiences.