12 YouTube channels for entrepreneurs

One of the great resources of information for entrepreneurs is YouTube. There are plenty of things that can be found in this platform, varying from several genres and interests. To help you find amazing content, we have listed down 12 YouTube channels that you can follow and watch their videos that are rich in insights and learnings.

TED

This channel brings you talks from various experts and remarkable ideas during the TED conferences straight to your computer and smartphone screens. You can pick up the lessons from business leaders and bring them to your enterprise.

Gary Vaynerchuk

As chairman of media and communications company VaynerX, Gary Vaynerchuk, known as Gary Vee, shares his life as an entrepreneur and his thoughts on business through his YouTube channel. You can also watch his keynote speeches, pod sessions, advice, interviews and even rants through the various videos posted on this platform.

Behind The Brand

Bryan Elliot takes us to how things happen behind the brands we know. Hear the stories of entrepreneurs, innovators, celebrities, athletes and artists as they talk about how they brought their brands to success.

Marie Forleo

Describing herself as a “Multi-Passionate Entrepreneur”, Marie Forleo came up with her online show, MarieTV, which is recognised by many award-giving bodies. She also has training programs and books to help her audience succeed in life and business. Her YouTube channel features her interviews with various personalities as they share their lessons, tips and ideas.

Pat Flynn

Learn from the many things Pat Flynn did to create passive income after he got laid off in 2008. He experimented on several initiatives, and he shares his experiences through his YouTube channel. He tackles topics about how to make money online and features other interesting discussions.

Brian Tracy

Brian Tracy specialises in the training and development of organisations and individuals. As the man behind the best-selling books Maximum Achievement Goal Planner, Speak to Win and Eat That Frog, Brian fills his channel with step-by-step guides, tips and recommendations, and other insights that are helpful to one’s entrepreneurial journey.

FightMediocrity

If you want to think big and fight mediocrity, browse through this channel that captures the audience not only for its rich content but also for its interesting presentation. The videos are animated sketches of lessons from self-help and development books that make them easy to digest and understand.

Moz

Moz is known for its website analytics, such as domain and page authorities of sites and SEO. Over the years, Moz has produced software and marketing products that help boost online presence. Because the internet is a complicated web, Moz has come up with a YouTube channel that enables businesses and individuals to understand the various concepts of the cyber world and how to navigate their way towards a successful online marketing campaign.

Business Insider

Business and financial news site Business Insider brings some of its stories into a video format curated in their YouTube channel. Watch short features on businesses and brands, interesting information about products and thought-provoking stories of personalities.

Startup Grind

This community of startups has come up with monthly events that help educate and support entrepreneurs. To cater to its community worldwide, they brought the content of their Global Conference to their YouTube channel that others can watch and learn some business lessons.

Y Combinator

Helping out startups is at the core of Y Combinator. They provide seed funding for new businesses. Apart from financial support, they also plant ideas to help ventures grow. They’re even sharing wonderful stories and learnings through their YouTube videos.

Prosperity TV

Critical thinker Randy Gage wants to inspire people and help transform their lives. He believes that everyone is born rich, so he hopes to create a prosperity mindset in others through his books, speeches and videos. In his YouTube channel, he touches on various topics that can motivate people to aim and work towards success.

Sometimes, you may not have the time to attend all the talks and conferences even when there are great speakers in the line-up. But thanks to video sharing sites like YouTube, you can watch and replay these talks and interviews and make them your guide to your entrepreneurial journey.

However, if you prefer getting help from other entrepreneurs through face-to-face engagement, you can hear their stories through learning events and forums in groups like EO Melbourne. You can complement the learnings you get from YouTube channels and other resources with those you acquire from like-minded individuals around you. Bring these lessons together and map out your entrepreneurial journey towards achieving your goals.

The art of negotiation in the entrepreneurial world

Running a business entails interaction and engagement with different people and various players in the industry. One major component in the entrepreneurial journey is negotiating for your business. You do it when hiring or retaining a staff member, purchasing materials, contracting suppliers, getting into a partnership or marketing and selling your product or services.

As the business owner, you have a major role in representing your venture as its voice and face when you negotiate with another party. The outcome lies heavily on your shoulders, particularly in the early stages when you are still doing things by yourself or leading a very small team.

Negotiation is key to the success of your business. You want the best interest for your venture to move forward, but you also prefer things to be done in a just and fair manner. The sad truth is that not everyone may look after your interest, so you have to approach things cautiously and meticulously. That is why it is important to note a few pertinent things when you are entering into a transaction.

Scan the landscape

Before you go into a negotiation, you have to scan your landscape and evaluate your internal and external environment. Do a SWOT (strength, weakness, opportunity, threat) analysis so that you have an idea of what you can bring to the discussion and what you need to get out of it. Know your worth and be mindful of it throughout the various stages of negotiation.

It is to your advantage to know the background of the other players in the deal. Research about them and see the potential for success for all parties. Preparation is vital before you even begin transacting with others.

Identify your objectives

Focus on the result you want to achieve out of the transaction. Negotiating is a process, and you might get side-tracked along the way. When you have your eyes on your goal, you become more conscious of the type of deal you get into and more discerning of the decisions you have to make.

Build positive relationships

Deals may sound cold and devoid of emotions. Although you should keep your emotions and ego in check while transacting with others, don’t forget to forge relations with the people involved in the negotiations. Create a friendly atmosphere without overdoing it. Take verbal and non-verbal hints while engaging with the other party. Listen intently to what they want to convey and clearly express your stand in the offers.

Plot your strategy and methods

If you already have identified your goals, looked into the big picture and the details, and prepared for the transaction to take place, you can define your strategy and methods. Know your limits and up to which point you can compromise and make concessions. Review possible scenarios and draw alternative plans for each.

Go for a win-win solution

While you are putting your venture’s position first in this deal, also look at things from the perspective of the other party. Have a fair agreement and always aim for a win-win solution. Look at options that are for the good of all those involved, if possible.

Finish the transaction harmoniously

Complete the negotiation by closing the transaction, whether it’s signing a contract or making a sale. Some negotiations may not end up with all parties in accord with the offer. You may arrive at a consensus or not, but maintain a polite disposition at most times. If you cannot reach an agreement, walk away from the negotiation table and settle things amicably.

If you are new to the art of negotiation, do not hesitate to ask entrepreneurs who have been on the journey ahead of you. Being part of a group like EO Melbourne allows you to hear their stories and bring their lessons with you for your personal development and business growth.

Nurturing effective communication in the workplace

Communication happens in our everyday life. It plays a fundamental part in the business world because it keeps the whole engine running. The same goes for any venture, big or small. But for your organisation to run smoothly, you need to hone good communication methods and tone down those that can cause problems.

Bear in mind that for the process to work, there’s a sender and a receiver of a message transmitted through a medium. Miscommunication can occur, which can negatively impact a situation. Effective communication is important, especially in the workplace, because it improves interpersonal relationships, strengthens teamwork and produces positive results.

When you work out a system that creates an atmosphere for good communication to thrive, it can minimise conflict and misunderstanding, increase engagement with your members, raise their satisfaction level, and inspire productivity. There are certain things you can do to foster effective communication within your team.

Know the various kinds of communicators

A single message can mean several things to various people. It is important that you understand how people communicate differently. There are different communicator types. Some have cited controller, promoter, analyser and supporter, while others name the various kinds of communicators as analytical, intuitive, functional and personal. Learn how each type sends a message and responds to them.

When you have identified the differences in how people convey and grasp messages you can adapt your communication methods and style accordingly. Tailor-fit the way you express and transmit ideas to your audience as they can also vary per person. One-on-one interaction may differ from a small group and large group communication. Know the most efficient way to avoid communication “accidents”.

Identify your style and evaluate your process

As a business leader, you also have to evaluate your communication style and the methods you infuse within your team. How do you talk to your partners, peers and subordinates? How do you word your letters and messages? Do you send everything electronically? Have you tried handwritten notes? What are your usual gestures and expressions when you speak with someone?

Being aware of the communication processes and checking through the cracks can help you improve the procedures you put in place when it comes to transmitting and responding to messages. Learn from mistakes and yearn for growth and improvement in your communication techniques.

Get feedback and verify how the message is received and understood

Communicating is not just about talking or sending messages. Listening and absorbing the message plays a huge part in it. It’s good to put some feedback mechanisms in place to verify how a message is received and processed. Provide opportunities for interaction among team members so that they learn more about each other.

Make sure to resolve things at the onset when miscommunication occurs and avoid problems to escalate. Set the standard for a corporate culture that upholds open and healthy discussions. Lastly, let politeness, patience and respect reign within your organisation.

Why you need market research for your business

Starting a business entails a lot of risks involved. You put into it your financial resources as well as your time, ideas and energy. The costs are high, and the risks are great. There is a huge probability of failure if you do not carefully plan how to build your venture, while your success rate may be substantial if you do the necessary preparations.

Decision-making is crucial in every stage of the entrepreneurial journey, which is why you have to get as much information as you can to make informed decisions. Market research is a tool that can guide you on the right path as you go about establishing and expanding your business. You may conduct primary research and scale it to a secondary one, come up with quantitative data-gathering or have in-depth discussions with prospective customers.

Whatever method you use, whether you do the research yourself or hire a third-party consultant, it is important to analyse the information thoroughly. Market research brings in several benefits to your business and experience. Here are a few reasons why.

Environment scanning gives you a bigger picture

Knowing the trends, identifying opportunities and threats and taking in pertinent lessons can help you comprehend the industry and the landscape that you will be dealing with when you build your venture. They give you significant knowledge of the various players in the field, such as competitors, clients, suppliers, influencers, etc. When you scan the external factors that may affect your business, you can effectively come up with plans and strategies that can help you move forward.

Understanding the market allows you to see through the cracks

You often have initial ideas and concepts that may deem promising at first glance. Market research can help you better understand the consumer and its needs. You will know the demographics of your target market, their mindset and their buying habits. In the process, you will sometimes find that your ideas do not match what they are looking for in a product or service. You will then see some of the cracks in your internal environment, as well as to your external environment, which you can take action to correct those within your control.

Testing the waters helps you make important decisions

Apart from interviewing prospective customers, it is also good to give them a taste of your product or service. There is no better way of projecting the results than to have an actual sample where you can see their reaction and gather feedback. You can then do some modification and fine-tune your offering.

Making the right fit for your customers leads to good results

When you create the right fit between your brand and your customers, it can generate positive results. Market research will provide you with the tools to create a blueprint for a sturdy business if you use them right. Others fail because they do not apply the learnings to their strategies and business decisions. Put your consumers first and things will fall into place.

In the end, market research will lead to higher customer engagement, bigger sales and faster growth for your business. It may not be easy, as you have to invest some time and resources in doing the research, but it will be worth your while.

Things to know before you franchise

Franchising is one of the business models that aspiring entrepreneurs explore when they think of entering the business world. There is already a system in place and a brand that is recognised by customers. Although there are many success stories on franchising, there are also futile ones. Before you go into franchising, you have to weigh first the pros and cons and their possible effects on you.

Research, preparation and careful study of your internal and external environments are necessary for making this crucial decision. These are things you can do to make sure that you choose the right option for your business journey.

Consider your strengths and interests

“Where do I start?” It’s one of the questions that those contemplating to start a business ask. The best place to begin looking is where your interests and skills lie. Scan through the businesses in an industry where you are most comfortable to venture so that you will be able to withstand the challenges and hardships of running a business may bring.  

Research and due diligence

Gathering data, information and insights is key to your decision-making process. Conduct research on the brand where you want to invest your money and study the market’s reaction to trends and disruptions. Do your due diligence on the location, company, suppliers and other stakeholders to ensure that you got all areas covered. Match the data with your observation, which is why it is good to visit the site and know the brand from a consumer’s point of view.

Understand the agreement and obligations

Consult with a legal advisor on the various aspects of the agreement and other obligations that may come out of the partnership. Look at different scenarios and determine the costs and benefits from your standpoint as an investor and franchisee of the business.

Review your finances vs costs

To franchise a brand, you will have to shell out an amount for investment. Always be mindful of your financial resources and the list of things you need to spend on this venture. You have to consider salary, administrative costs, electricity and other bills.

Know your weaknesses and areas where you need help

The good thing about franchising is that the company will provide training to take you through the entire process. They will assist you in setting up and running the business. However, there may still be other areas where you feel you will need a lot of help. Do not hesitate to seek guidance from those who have the experience and know-how. Listening to stories of entrepreneurs, such as those that EO members do, can help you gain a lot of insights that can guide you in the different phases of managing a business.

In the end, you have to take a look at the pros and cons of franchising vis-à-vis to opening your business from scratch. Both have advantages and disadvantages, but you have to choose according to your capability and evaluation of your self and the external situations. If you still prefer the franchising route, be sure to keep doing the things cited above as there may be factors that will change along the way.

Increasing sales through online shopping sites

If you are a startup or a small enterprise and you want to sell your products using the online platform, you can promote them on your site and provide an option for site visitors to purchase them there. However, you can move your products faster if you make them available in top online shopping sites.

Before you embark on this direction, you have to review the site, its security features and partnership agreement, as well as the advantage and relevance of such to your brand. Once it has fulfilled your requirements and standards, you can begin featuring your items on your chosen shopping site or sites. But there are a few things you have to keep in mind to get more visitors and prospects to your page.

Write clear descriptions and catchy titles

Your description must be able to inform readers of the features of your product and how it can become a solution to a problem or situation where your item can fill in the need. Do not try to sound hard sell though, but be sincere in stating your offerings. You can include a call-to-action to motivate visitors to do something after reading about your product.

Use nice and attractive photos

Graphics and images are better than a thousand words. People can immediately see how your product looks like and how they can use them through photos. Invest in good product images that can attract people to your page. Make your photos easily searched online by putting tags and captions.

E-mail and engage your buyers

Take the extra step and engage your customers by communicating with them through email. Establish trust and build positive relationships with them through constant updates and fast turnaround on inquiries and complaints.

Follow-up on leads

Build your database of inquiries and convert visits into sales. Follow-up is key to completely closing a transaction. Check out concerns and assist prospects so that they become repeat customers.

Give discounts and special deals

Putting your product photos and description on an online shop may not be enough to bring in sales. With several vendors and many other products available in every online store, you have to compete for attention and gain the trust of site visitors. Coming up with discounts and special deals can put you on the homepage and featured portions of the online shopping site.

Utilise product reviews

When buyers are satisfied with your product and customer service, they will promote your brand and leave positive reviews. But don’t shy away from unfavourable comments. The best way to approach that is to respond sincerely and communicate well with disgruntled customers.

Promote in other sites

Even if your product is on your website and the online retail sites, you still have to strengthen your presence on the internet by using social media marketing and targeted sites. Check out blogs, vlogs and popular accounts of social network influencers. You can send them samples or tokens to feature your product on their sites.

There are plenty of options and opportunities for you even when you are only starting your venture. It is best that you scan the industry and study carefully the various online shopping sites that may lead to increased sales. If you are not too familiar with the terrain, seek help from experts or fellow entrepreneurs who have experience in this area. Attend learning events and seminars, such as those offered by EO Melbourne, and expand your knowledge on business, particularly in using e-commerce.

How to become a successful entrepreneur in the medical field

Getting a medical degree does not automatically makes one work in hospitals or pharmaceutical companies. It may be a specialised field, but there’s plenty of opportunities for entrepreneurship in this business space. There is a door in this industry that can lead you to the entrepreneurial journey.

There’s no denying that the medical and healthcare industry is becoming a popular arena for startups because of technology, specialisations and people’s increasing consciousness to their well-being. Even if you do not have the expertise in business, you can still dip your feet into the water and establish a venture in this field.

Armed with your medical know-how, you can prepare yourself for the journey and survey the playing field before you embark on starting a business. Then work your way towards improving your craft, expanding your business and caring more for patients who need your services.

Maximise your skills and capabilities

Your medical background is already an asset to the business. Add to that your hands-on experience and training. Look at your strengths and let them work to your advantage.

Identify the need

The reason most businesses thrive is that they provide a solution to a problem. Consider the gaps in your industry and the need of your target market or patients. Keeping in mind the need of the people you serve will make you stay true to your purpose and balance profit with purpose. Do market research and reach out to your prospects and clients regularly.

Work on your limitations

Define your weaknesses and work on addressing them by getting partners, investors, consultants or third-party service providers to help you out. Bring an edge to your venture that will make it stand out from the competition.

Create your team

Put together your dream team who can embody your corporate values and culture. Be discerning in selecting those with potential, efficient in retaining the good ones and fast in letting go of those that do not fit in your standard. Hire people that can help you with administration, finances and operations. Remember that your team are your hands, feet, eyes, ears and mouth. They are an extension of yourself, so you need to preserve the trust and harmony when you work as a group.

Keep learning

Look for a group that can help nurture your business sense. Join organisations like EO and surround yourself with like-minded individuals. Learn from other entrepreneurs who have experienced the journey ahead of you. Listen to experts and nurture your business knowledge through books, podcasts and other resources that can hone your skills. Be mindful of trends and disruption, especially in the use of technology in business and medicine.

With commitment, passion and proper guidance, you can take a step towards becoming a successful entrepreneur. More importantly, don’t lose sight of your vision as it will motivate you to keep going amidst the challenges and hardships that the journey may bring.

How to drive traffic to your site

You set up your website and social media accounts, then expect people to visit them on their own. However, creating them and leaving them at that are not enough to reach your audience. You have to come up with some activity and engagement to let them know and draw them to your site.

Acquiring new customers and strengthening your relations with your existing ones involve an active pursuit online. Your internet presence has to be felt by your target market through strategic actions that will encourage them to visit your website. Before you launch any online marketing campaign, you have to ensure that your site has valuable content that will keep your visitors to come back and share it with others.

Now, how do you drive traffic to your site? Read on the following strategies that can help you with your site traffic.

Organic search

Every minute, millions of searches take place online. Your site can land in the first pages of search engines if you include the right keywords in your content. Internet users now use longtail keywords to narrow down search results, which you can employ in your site. Search Engine Optimisation (SEO) is one of the activities that site owners do to draw visitors. Even when algorithms change, it is important that your content is rich and images are properly tagged, without engaging in black hat tricks. Explore web directories and listings and see how they can contribute to your site’s searchability.

Social media

The popularity of social media has gone unnoticed by site owners and managers that it has become central in online marketing. Social networks like Facebook, Twitter, LinkedIn, Youtube and Reddit have become vital in linking and sharing sites, engaging customers and forming communities. Because social media platforms vary depending on usage, culture and trends, you have to customise your content accordingly. Tapping on the influence of online personalities also help in gaining credibility and authority to your brand.

Paid Ads

Advertisements are no longer limited to broadcast and print media. Brands turn to websites, search engines and social networks in placing ads. The likes of Google Adwords, Bing Ads, Facebook Ads, Instagram Sponsored Posts, Youtube Ads and Twitter Ads are also gaining the public’s attention. Other brands even get into advertisements promoted in online games. The good thing about ads online is that you can target your audience based on internet behaviours and site visits.

Referrals

Sites with high visitor rates can help boost traffic to your site through linkages. There are different ways to drop your site’s URL in sites with good domain authority. You can do this through link exchanges, guest posts, comments (as the first commenter) in blogs, and forum or Quora interactions. Of course, you have to select the sites where to put your site’s URL, as they must align with your brand and industry. Other methods are through webinars and article marketing, where you seed writeups to article banks, newsletters and syndication sites.

Email marketing

The best way to retain customers and constantly communicate with your existing audience is through email marketing. When they subscribe to your site, they can receive updates, announcements, news and stories about your brand. It is also helpful to always put in your email signature a link to your site.

Direct traffic

When people are more familiar with your site, they can simply type it in their browsers for reference. Make sure that you always put your site’s URL in your business cards, marketing materials, advertisements, presentations and the like. Having a domain name that is easy to remember is necessary to make it top-of-mind among your clientele.

With increasing site traffic, you can nurture visitors and convert them to become your loyal customers. Apart from these strategies, consistency is key in attracting more people to your site. You have to come up with fresh content regularly and update the information posted there. Moreover, you have to keep yourself abreast with the latest trends and news so you can align your strategies with whatever clicks with your target market.

20 Podcasts for entrepreneurs

The beginning of the 21st century saw the rise of podcasts as a new way of sharing information to the public. It broadcasts content and distributes them as audio files using apps or the internet. Entrepreneurs saw the value of podcasts in increasing their knowledge as they can conveniently listen to them anytime they want.

When you are in-between meetings, driving to work or back home, doing your exercise or wanting to spend a peaceful night without overworking your eyes, you can easily turn to podcasts to hear the insightful tips and inspiring stories of those who have traversed the entrepreneurial journey and made it successfully.

EO Melbourne members Nathan Chan of Foundr and Tristan White of The Physio Co have podcasts that focus on business and leadership. There are many more materials that you can help you in your growth as an entrepreneur. We have put together a list below of a few examples that can make you gain additional knowledge.

$100 MBA Show

Omar Zenhom and Nicole Baldinu are the persons behind the $100 MBA Show podcast, featuring real entrepreneurs and business experts that share tips and advice or conduct actionable lessons as guest teachers.

a16z

With a tagline of “software is eating the world”, the a16z Podcasts centres its discussions on news, trends and forecasts on tech and business culture.

Duct Tape Marketing

Thought leaders, influential marketers, successful entrepreneurs and business experts grace the podcast as John Jantsch interviews them about their experiences and learnings in their business life.

EntreLeadership

Running a business and leading a team is a challenging job. EntreLeadership acknowledges this reality by helping entrepreneurs become better leaders through advice from CEOs, heads of companies and business owners.

Entrepreneurs on Fire

Entrepreneurs on Fire founder and host John Lee Dumas created the podcast to inspire business owners and fire up their entrepreneurial journey with stories and strategies from those who have been in the journey themselves.

Growth Now Movement

With a mission to teach the world on smart decision-making and living life happily, entrepreneur Justin Schenck talks to entrepreneurs, business leaders and executives on how they overcome challenges and enable themselves to grow in their respective fields of endeavour.

How to Start a Startup

Composed of lectures from experts, this podcast created by Sam Altman and the Y Combinator team at Stanford details the basic steps in establishing and building an enterprise effectively.

Millionaire Mindcast

How do you build your wealth and enrich your lifestyle? Millennial entrepreneur Matt Aitchison turns to inspiring individuals as they share how to overcome hardships and be financially free.

Mixergy

Mixergy features entrepreneurs through interviews and courses that give a glimpse of the entrepreneurial journey and impart business knowledge so you can prepare for it accordingly.

School of Greatness

If you want to listen to game changers in various industries and fields of interest, you can pick some lessons from them through the School of Greatness podcast of Lewis Homes that offers business and self-development sessions.

Self-Made Man

You can be a self-made man yourself and learn how you can hone and improve your mindset, productivity, entrepreneurship, money, health, marketing and relationships through talks by some of the leaders in these areas of interest.

Smart Passive Income

Pat Flynn takes his listeners behind the secrets of making a living online through strategies, advice and interviews on how to build an online business.

Stanford Entrepreneurial Thought Leader Series

Familiarise yourself in the entrepreneurial landscape through the success stories of leaders who overcame the bumpy ride that the journey entails.

Startup

Gimlet Media’s Startup is a documentary series on the entrepreneurial journey that shows how to start a business based on case studies.

The GaryVee Audio Experience

Gary Vaynerchuk, the man behind the GaryVee Audio, presents in his podcast episodes some interviews, speeches, chats and insights on entrepreneurship and other interesting topics.

The Influencer Podcast

If you are curious about how to become an online influencer or learn from one, then this podcast is for you. Julie Solomon will show you the world of successful bloggers, social media influencers and industry experts through engaging conversations with them.

The Top

Highlighting top entrepreneurs, Nathan Latka gets them to share in 15 minutes or less about their businesses, revenue data and other helpful insights.

Tim Ferriss Show

The Tim Ferriss Show Famous showcase personalities within and outside of business wherein they share tactics and tools that helped them succeed in their particular field.

Unemployable

Brian Clark has founded eight successful enterprises, and he shares his lessons and experiences through his podcast. He is joined by guests who also have rich stories to impart to his listeners.

Youpreneur

In Youpreneur, you will find podcast episodes that revolve around building, marketing, monetising and growing your brand and business to make them profitable and lucrative.

Listening to the stories of successful people, especially their struggles and determination to prosper will motivate you to keep going on your entrepreneurial journey. As they share their experiences, you will learn specific strategies, tools and solutions that you can apply to your business. These podcasts are helpful in your growth as an entrepreneur because they present positive ideas that you can bring to both your business and personal life.

Planting and growing the seed of entrepreneurship

Entrepreneurship is like gardening where you plant and nurture your business so that it grows and bears fruit. It takes a lot of labour, notwithstanding external factors, to achieve the result you envision. Nevertheless, you till the ground, water the plant and care for it until it yields its produce for a good harvest.

Gardening is a therapeutic activity for busy entrepreneurs. There is nothing better than to feel nature in your hands. Also, it brings many good lessons that you can apply in founding and managing a venture.

1.) Know your soil

There are different kinds of soil – clay, chalky, peaty, sandy, silty, and loamy, the last being the ideal one. Determine the type of soil in your garden to know the plants that can survive and grow in such an environment. In the business setting, there are plenty of industries and markets to penetrate when you start an enterprise. Take a look at trends and players in the field and study how you will fit in such space.

2.) Select your seeds

Depending on your soil and environment, you have to choose the kind of plants you want to grow. Will it be flowers, vegetables, ornamental plants or fruit-bearing trees? Learn which plants complement each other and which ones would be disadvantageous if placed in the same area. Similarly, be strategic in the products and services you want to focus on your business. Make sure they address a particular need and provide a solution to a specific problem.

3.) Layout your location

When you have identified the seeds that go in a particular soil type, layout your garden. Decide the plants that should go together and those that you will place under the sun or in the shade. Location is crucial in business. It is ideal for your office or shop to be near your target market. Make your interiors a pleasing environment for your team and customers.

4.) Ready your tools

You need gardening tools to get you started. Plus, you need to get your hands dirty. When you build and run an enterprise, you need to have the right tools to manage it well, such as equipment, materials, skills, systems and software. At the initial stage of the business, you have to be hands-on with every aspect of the operation to familiarise yourself to the whole process and take care of your finances. Join professional groups like EO Melbourne to expand your learning and help you accelerate the growth of your business.

5.) Plant the seeds

Seeds are delicate, so you must handle them with extra care. Dig deep enough for the seeds to germinate. Be mindful of the distance between plants. Also, to avoid confusion, label your seeds. When everything is ready, it’s time to invest in your business and plant your brand in the mindset of your clients and prospects. Let your brand stand out from the rest. Establish and maintain good relations with them.

6.) Nurture according to their needs

The right amount of soil, water, sunlight, air and other minerals will help your seeds to sprout and grow. Never overdo them or else they will die. If you know your seeds well, you must know the amount of care they need to make them sturdy. In business, engage your customers and communicate with them. If you know exactly their needs and wants and deliver that kind of product or service to them, you will gain their trust and loyalty.

7.) Take out weeds and protect them from pests

To protect your plants against harmful factors, you have to weed out the grass, create boundaries against animals, and look out for pests and insects. As an entrepreneur, review your books regularly and avoid unnecessary spending. Hire and retain good employees, but don’t hesitate to let go of those that do not fit your standard and corporate culture.

Indulge yourself in this interesting hobby. It’s a good way to reflect and nurture your creativity where you get to spend some alone time with nature. You will find the activity not only relaxing but also insightful as you can pick lessons that you can bring to your entrepreneurial journey.

Essential business software tools

Speed and efficiency are necessary ingredients in running a business. You need tools that will help you fast track your operations effectively, sort out your internal structure, keep up with the demands of your clientele, compete well in your industry, and protect your venture from possible threats.

Advanced technology in this smartphone age has an enormous selection of applications that can bring your business up-to-speed and efficiently like a well-oiled machine. It has made offices go paperless and enable remote transactions to happen in real time. There is a software for every aspect of your business that can systematise your processes and aid you to cut on time, effort and resources. The basic ones are office suite, security suite and e-mail service.

What are the various areas in your venture where you can use software to help you manage your business? If you have a limited budget, there are free software but may not have the full capacity you need. Otherwise, you can invest in software that can best serve your business requirements. You can look into these few examples and explore other resources available out there.

Accounting, budget and invoicing

Keeping tabs of your income and expenses is one of the trickiest parts of a business. You can be on top of your cash flow when you have the proper financial system in place where you can accurately record your numbers and generate reports.

Examples: Xero, Quickbooks, Wave, Freshbooks, Sage 50c, Zoho

Backup and Recovery

Data and information are vital to your venture. Thus, there is a need to protect them to avoid losing them entirely. Choose the most suitable software that has the capacity that can match your company’s requirements.

Examples: CloudBerry, EaseUS, Nakivo, Wondershare, Carbonite

Customer Relationship Management (CRM)

Acquiring, engaging and retaining clients, whether it’s a B2B or B2C company, are necessary to generate sales and profit. 

Examples: Zoho, Salesforce, HubSpot, Bitrix24, Pipedrive

Database

Organising your client list, business contacts, and other information is a good way to record and keep information. Find a software where you can easily draw out the kind of report you need, such as the demographics of your customers or spending habits.

Examples: Microsoft Access, Oracle Database Cloud Service, TeamDesk, MySQL, SAP Sybase ASE, Microsoft SQL Server

E-commerce

The rise of online transactions has become a common reality nowadays. E-commerce has made things faster and easier for customers without them having to leave their homes or offices.

Examples: Shopify, BigCommerce, Wix, Weebly, Volusion

E-mail marketing

E-mail still generates a huge return on investment (ROI) and an effective way of engaging customers. But if you have a huge list and need to send e-mails regularly, a marketing tool that can do that in a single click is most helpful. Thankfully, there are now sophisticated applications that can do that.

Examples: MailChimp, Constant Contact, ActiveCampaign, SendinBlue

File storage and document sharing

Organisations turn to cloud storage as a business solution for storing and sharing huge files. With file storage and document sharing software, it is efficient to operate if you have offices or team members working in various locations.

Examples: Google Drive, Dropbox, Sharefile, Apple iCloud, SharePoint, Slack, Samepage

Project Management

Implementing and overseeing a project can be a tedious process. But you can ease your worries if you have software that can easily track the project, allow team collaboration, minimise errors and generate reports.

Examples: Slack, Bitrix24, Samepage, Confluence, Wrike, Trello, Zoho Projects

Task Manager

When you are overseeing a team, it is good to manage their tasks and deliverables through software that can help organise the workflow.

Examples: Monday.com, Wrike, Evernote, Smartsheet, Asana, Quire

Time tracking

Professionals, freelancers, contractors and companies with work-from-home staff rely on time tracking software to charge bill hours or monitor workload and output.

Examples: Hubstaff, Time Doctor, Tsheets, Bitrix24, Zoho People, Timely

Thanks to technology, it is easy to connect and work with your team regardless of time and distance. Software applications can keep you on the same page and reduce mistakes. If you have a good command of every aspect of your business, you can determine the software that can best fit your needs and help you cut on time and budget. Find one that can perform two or more functions to make it economical, timesaving and proficient for your organisation.

Industries where startups thrive

More and more startups are on the rise, and there are industries where new businesses thrive. Such industries provide an environment that allows recent players room for growth and opportunities. Emerging industries set the stage for fresh ideas and concepts while established ones experience a changing landscape through disruptive technology.

If you want to start a business or enter a new playing field, you can take a look into these markets which may open doors for you and lead you to success. It would also be a good topic to discuss and explore with other entrepreneurs and business groups like EO Melbourne on how they foresee the future of ventures within these business spheres.

Green and renewable energy

The increasing concern on environmental issues has paved the way for businesses to provide solutions to ecological problems. People are taking into consideration other sources of energy that are less harmful to the planet. Companies and individuals are becoming more conscious of redefining their methods to ease the pollution, reduce carbon footprint and address global warming and climate change. From the use of solar energy to the implementation of paperless transactions, there is a lot of potential for startups in this arena.

Artificial intelligence

It used to be a distant dream for societies to one day do things with a snap of a finger. Now, it has become more of a reality with the use of artificial intelligence. New products, equipment and processes that use the AI technology are on the rise, although still in the infancy stage, which leaves more space for several players to shape and develop this industry.

Education and online learning

In today’s world, learning goes beyond the four walls of the classroom. It now transcends time and distance through educational software and online materials. Whether it’s early education or a professional course, there are plenty of choices where you can improve your knowledge within a chosen field. Even individual experts have come up with online programs and training sessions to improve one’s capability.

Video and mobile games

With the advent of smartphones and gadgets, gaming has become more accessible to everyone. Gamers prefer to play a variety of games, and they range across various age brackets, locations and demographics. There are new games developed every month, and several companies have joined the bandwagon of creating video and mobile game apps that continually delight consumers.

Health, beauty and wellness

Today’s fast-paced and stressful lifestyle brought people to become conscious of their health, wellness and beauty. Although this is not a new industry, more startups are entering the scene that disrupts the current mindset and trends. Wellness services and applications, health centres, and ethical practices are making waves globally, creating a different approach to taking care of one’s body.

Mobile Food

Food is one of the basic needs of human beings. But this age-old industry has been transforming over the years because of the changing lifestyle, preferences and eating habits of people. Businesses that venture in the mobile food industry flourish, especially when times are financially challenging for consumers. Street food is always a mainstay for locals and travellers in cities all over the world, which is why there are always newbies that enter the scene.

There are several other industries where startups are seen to be on the upsurge. As our societies evolve and more needs and challenges are faced, there will be an opportunity for aspiring entrepreneurs who want to join the business world. Also, we constantly experience progress, transformation and disruption, which may be both a threat and an opportunity to existing and upcoming enterprises. Nevertheless, keep your eyes open and be ready for doors that may open up in the future that may lead you to achieve your goals and become a successful entrepreneur.

The similarities between dating and customer relations

Others may think that business is a cold-hearted transaction devoid of any emotion. But what they fail to see is that companies that thrive and succeed are those that place a high value on their relationships with their stakeholders, such as their patrons and consumers.

Whether it’s a retail business or a B2B company, good rapport with the customer or client is necessary to keep things going. Several studies point out that the cost of acquiring a new customer is higher compared to retaining existing ones. To capture your client’s interest and secure their loyalty, you have to put your focus on understanding them, their wants and needs. It’s like courting someone you like and make that person fall in love with you. We can probably use a few ideas from dating and apply them to customer relations.

Attracting their attention

When you set your eyes on someone you want to woo, you will do certain things to gain their attention. You send flowers, write romantic messages, dress up or make your presence known to that person. In marketing, you need to be out there. You come up with advertisements, utilise social media, beautify your store, polish your website or create a beautiful packaging and catchy taglines. Sometimes you have to customise your approach depending on the response of a particular client or consumer. Before you plan out your strategies, you have to find out what ticks and clicks to your prospective customers by conducting research that can provide insight into their preferences.

Getting them excited

If obtaining the attention is the first hurdle, the next one is to get the person interested. You have to excite them to get a second, third or more dates. It’s the same thing with customers. The first engagement with them should be memorable, but you have to come up with other means to make them come back for more. It’s either you sign them up for a rewards system, offer a discount on their next transaction or highlight your unique value proposition to gain their trust and confidence to your brand. Make them look forward to recurring encounters with you.

Communicating good news and issues

One of the reasons why relationships fail is that both partners do not communicate properly. As you get to know each other more, you have to express your appreciation of the person or discuss issues in the onset. Similarly, customers are pleased when brands inform them of milestones, good news and possible concerns ahead of time. Whether you do email blasts, social media posts or community forums, constant communication with your customers will make them feel valued, especially if you listen to their suggestions and get their feedback.

Resolving problems

No relationship is perfect. There will always be misunderstandings and disappointments. But you have to work hard to go beyond that bump if you truly want lasting relations with the person you love. If there is a problem, you can nip it in the bud before it blows out of proportion by finding a resolution. When it comes to business, make sure to resolve any problem that your customer may encounter with your product or service. You can go the extra mile in assisting your clients, particularly your loyal patrons so that they will keep coming back regardless of the hiccups.

Elevating the relationship

A relationship is like a journey. You either move forward or go backwards. Despite the ups and downs, you have to put more effort to strengthen the bond. Customers of companies that show strong rapport with their clientele often turn out as ambassadors and help attract new patrons. You have to come up with ways to elevate the affiliation of your loyal clients to your company so that you grow together in this journey. This is one reason why some brands build online communities to involve their consumers to their brand.

The question now is this: Is your relationship with your customers only for now or is it for keeps? Whether it will lead to an enduring and deeper correlation or something temporary, you alone can give the answer to this. It all depends on your actions. If you know your customers better, you will know the right path to forge ahead.

Planning your business budget well

Keeping track of one’s finances is a primary concern of every entrepreneur because cash flow is an integral part of any business. A yearly budget needs to be drawn out to forecast and assess the financial aspect of your business more efficiently.

A budget is your plan interpreted into numbers. It is your roadmap that will guide you as you work on your short-term goals. A budget is a business tool for planning, monitoring and evaluating your venture’s progress based on your projected and actual income and expenses.

Even if you hire bookkeepers, accountants, auditors and experts in this field, it pays a lot if you are also knowledgeable about the financial side of your business. Given that, it is best that you work with your team when you draft your annual budget. To make sure that you plan your venture’s budget well, you can consider these few tips that can help you and your team.

Set targets

It starts with identifying your targets for the year. From there, specify the requirements, materials and tasks involved and estimate the equivalent cost. Having those quantifiable figures will help you assess your progress as you work your way towards your goals.

Research on costs and trends

To make your numbers as accurate as possible, research on actual costs that will reflect on your budget. If you have been operating for quite some time, your previous financial statements could be your reference as a benchmark but consider other factors that may change your current cash flow. Talk to your suppliers and partners, familiarise yourself on tax laws, check the market trends, know the industry standards, and adjust your budget accordingly.

Break down per month

Monitoring your cash flow vis-à-vis your budget is easier if they are broken down into months. When you divide your budget this way, you can check the difference between your forecast and the actual income and expenses as you progress throughout the year. Other businesses also apportion their budget per department or per project.

Get into the details

When you put items or entries in your budget, be as detailed as possible. Make everything quantifiable. Remember that time also has an equivalent cost. Review where you can trim down the budget. Be conservative in your sales projections as you overestimate your possible expenses. Include changes in the business cycle during peak and non-peak seasons. Factor in your company’s capability to absorb the workload and count overhead expenditures.

Come up with contingency

Similar to how you plan your life and your business direction, you must always allocate a contingency fund that will cover emergencies and unforeseen circumstances. Have a plan B, C or D when you create your budget. Mark the items that you can easily adjust and those that are non-negotiable.

Nowadays, there are plenty of tools, templates, apps and software that can make budget planning faster and more efficient. Educate yourself about the financial side of your business by reading accounting books, listening to podcasts and attending learning events, such as those held by EO Melbourne. Once you surpass the hurdle of the first few years of your venture, you can approach budget planning with confidence and increased knowledge.

The benefits of blogging to your business

Blogging has been around for more than two decades, and it has become widely used from personal journals to marketing and commercial purposes. Various brands and companies have also turned to blogs to communicate with their stakeholders. A blog gives an added dimension to your website, which usually has standard pages that do not need frequent updating.

There are several platforms with template designs that enable individuals, groups and companies to start blogging quite easily. Plugins and apps allow users to incorporate various features in their blogs that make it more attractive for readers. Moreover, blogs have become a rich source of information and entertainment among those who explore the world wide web. EO and its various chapters have also come up with blogs that have provided additional insights to members and readers. The ideal case is to host or attach your blog to your website to make it easier for you and your audience.

To have a blog, you should dedicate some time and effort to plan your content, post regularly, and respond to comments and queries. It’s not expensive to maintain a blog, which is why several ventures are also utilising this for their marketing efforts. Here are some of the benefits that having a corporate blog can bring to your business.

Increase traffic to your website

For your website to generate more traffic, it must have fresh content. Keeping a blog allows you to come up with new posts on a regular basis. It can increase your website’s SEO and inbound links when you have more articles through your blog, especially if you link it back to pages in your site. With more stories and information you share, you increase the searchability of your site as you harp on keywords that are related to your brand or business.

Inform and educate your customers

Through blog posts, you can explain concepts thoroughly. You can go beyond featuring your products or services but even come up with creative articles related to your industry that can be additional resources to your customers.

Connect you with your customers and prospects

Your website can be quite limiting as it will only present very pertinent information about your business. But you have many things to tell your audience beyond the details of your venture and some FAQs. The content you put in your blog can be customised based on the preferences of your readers, which can spark discussion and engagement.

Provide human touch

A blog provides a voice for your business, one that they do not often hear. You can inspire others through stories, highlight your people, share your passion, and put a human face to your company. That way, it strengthens your relationship with people as they see your brand beyond the logos, products, packaging or brochure.

Add value to your brand

Because you can talk about your brand in-depth, you can highlight its positive points without having to make it a hard sell. When you touch on other topics related to your business and provide relevant angles, you raise your brand’s authority, adding value to it that can endear to your customers and prospects.

Maintaining a blog can be either enjoyable or burdensome, but don’t lose your focus and always bear your readers in mind. You also have to stay close to your branding in any article you post. If you do well, it can lead to long-term positive results which can bolster your image and bring in additional income to your business.

Rafting through the entrepreneurial rapids

It’s a wonder why there are people who put their lives on the line, go through the rigours of the current and raft through the rapids of a wild river. The risk is high, and the rewards are not visible. It is comparable to the entrepreneurial journey. Not many may comprehend the people that take this path, but those who have been on this track fully understand the satisfaction it brings.

The perils of letting the powerful flow of water push you along a maze of huge sharp boulders are extremely high. It’s the same with putting your efforts and resources in establishing and running a business – you can gain so much or lose a lot. Despite the hardships, the whole adventure brings excitement and adrenaline rush. The satisfaction that the end of the surge gives to those who take it is even greater for those who finish it.

Proper mindset, preparation and skills are needed to wade through the challenges that the course of the flow may bring. There are a few pointers that people have to bear in mind as they take the entrepreneurial wild based from the preparation and experience of those who do white water rafting.

Choose the right level

The important thing is to assess first your capability and the difficulty levels. If it is your first time, tackle the beginner’s class and work your way up. There’s no need to rush to the most difficult level. It is crucial to have steady growth regardless of the pace that you can carry out. Familiarise yourself with the different rivers and courses so you will also determine the twists and turns you need to take.

It pays to know the ins and outs of the industry you are entering. You have to immerse yourself with the people to know the pulse of the market. There’s nothing wrong with starting small and ending big rather than opening big then the spark will die out in a short amount of time.

Develop great teamwork

When you go rafting as a group, you move as one unit and not as separate individuals. Everything has to be synchronised, and everyone has to paddle hard. Good teamwork and leadership are necessary ingredients to achieve success. That is why it is important to trust your guide and listen well to his commands.

Involve your people in the various stages of your venture, from planning to execution to evaluation. Build your team in a way that you become one mind and heart as you face the same direction. The burden is heaviest on the business owner, but you have to face the difficulties as a team to get through them.

Maintain proper balance

Balance is a key factor as you go through the rapids. Even when you fall, always find your balance. But it is not something that you achieve overnight. You have to work on it until it becomes a natural thing to you. This applies not only on the individual but also to the group. The team has to find its equilibrium on the raft amid the flips and splashes.

The entrepreneurial journey is full of ups and downs. You have to know when to stay all night and when to rest. Otherwise, your body and other aspects of your life will suffer. However, balance is not only bound in life and personal matters. It also applies to your team’s structure. See where every member can complement each other and the entire group so that you will develop harmony and unity.

Safety first

Wear the proper gear and check all the equipment before you embark on this fun adventure. Wetsuit, trainers, a floating device, and helmet are among the basic items. Take out unnecessary things, such as jewellery or accessories, which may harm you or others. Review the safety tips and observe them. Protect yourself not just against the rapids or the large rocks but also from the harmful rays of the sun. Bring sunscreen and first aid kit.

Look after your finances. Have some security measures in place to protect your business from crises and adversities. Document everything and set up proper systems and processes to fill in gaps in your operations.

Train well and paddle hard

Learn proper techniques and do warm-up exercises before the rafting activity to prepare your body to the rigorous motions of the river. Stretch your muscles so you can exert energy and force when the going gets tough and the tough gets going. Moreover, have the presence of mind during preparations and at the activity proper.

Equip yourself and your team with the proper skills and capabilities to make your business heavy-duty. Constant learning and training are essential to keep yourself and your venture growing. Pour your passion into your business so that you will achieve the goals you have set that will bring you to success.

The biggest struggle is at the early stage when you are trying to learn everything. But as you continue rafting and devoting yourself to the business, experience and familiarity will widen your comfort zone. You can learn from others who have gone before you, especially those that are already braving their entrepreneurial rapids, which you can find in EO Melbourne. Nevertheless, keep your eyes ahead and focus on the destination. Watch out for the waves and meet them head on to surpass the turbulence. Most of all, have fun and enjoy the ride.

Cloud storage: where to store your data

The 20th century saw the creation of cloud storage, but it was in the 21st century when it gained widespread use. Many businesses, especially those with offices, staff or dealings in two or more locations, have resorted to putting their data on a cloud platform for easy storage, sharing and collaboration. Understandably, it is a technology that most companies turn to in making their operations faster and more efficient.

There are advantages and disadvantages to using cloud platforms. It takes less physical space and infrastructure when you store data on the cloud. Running out of hard drive space is often a concern for computer users. Sharing of files is also easier because files may be accessed anytime, anywhere without sacrificing hard drive space. Meanwhile, because a third-party server stores the information, it runs the risk of falling on the wrong hands, with you having little control over it. Also, you always have to back up your data in case any uneventful thing happens.

Choosing which provider to host your files depends on your requirements and budget. There are those that are for free but with a limited capacity. If you prefer a bigger space and more secure software, then you have to be ready to shell out some money to acquire and maintain it. But first, it is good to familiarise yourself with the different platforms so you can choose which ones you can tap for your business needs.

Dropbox

Dropbox is probably one of the early players in this game as it began in 2007. It provides options for individuals and teams, offering the best sync technology, file recovery, and easy, secure sharing. One can set up an account for free, but there are plans available for some added features.

Capacity/Plans:

• Individual - Basic (2 GB free), Plus (1 TB at USD9.99/month), and Professional (2 TB at USD19.99/month)

• Team – Standard (3TB at USD12.50/user/month starting at three users), Advanced (As much space as your team needs at USD20/user/month), and Enterprise (customised solutions)

Google

The most common Google app for data storage and sharing is Google Drive, which can be used by individuals and teams at home, school or work. Google also developed Google Cloud as a business solution, which has improved security, advanced storage tiers and other features to support enterprises.

Capacity/Plans:

• Google One (combination of Google Drive, Gmail and Google Photos) - 15 GB free space, 100 GB at USD1.99/month, 200 GB at USD2.99/month, 1 TB at USD9.99/month, 2 TB at USD19.99/month, 10 TB at USD99.99/month, 20 TB at USD199.99/month, and 30 TB at USD299.99/month.

• Google Cloud Storage – Coldline (USD0.007 - USD0.014 per GB/month), Nearline (USD0.01 - USD0.02 per GB/month), Regional (USD0.02 - USD0.035 per GB/month), and Multi-Regional (USD0.026 - USD0.036 per GB/month)

iCloud

Apple’s cloud storage and computing version is the iCloud. The software allows iOS users to back-up data from their devices to remote servers, which they can access and share with other users. iCloud can be opened not only in iOS gadgets but also in macOS and Windows devices.

Capacity/Plans:

• 5 GB free, 50 GB at USD0.99/month, 200 GB at USD2.99/month, and 2 TB at USD9.99/month

OneDrive

Microsoft also came up with its cloud storage facility, called OneDrive. Apart from safety and accessibility, OneDrive also offers users access to their files even when they are not online. It also incorporates Office 365 in OneDrive.

Capacity/Plans:

• 5 GB free, 50 GB at USD1.99/month, 1 TB at USD6.99/month or USD69.99/year (comes with Office 365), and 6 TB (1 TB for 6 users) at USD9.99/month or USD99.99/year (comes with Office 365)

IDrive

IDrive offers multiple device back-ups and online file syncing as well as IDrive Express, where there are quick back-up and data retrieval through physical storage shipment. It also has snapshots and versioning which allows you to retain a maximum of 30 versions of all the files saved in your account.

Capacity/Plans:

• Personal - 5 GB free, 2 TB at USD69.50 in the first year, 5 TB at USD99.50 in the first year

• Business – 250 GB at USD99.50 in the first year, 500 GB at USD199.50 in the first year, 1.25 TB at USD499.50 in the first year

Box

Launched in 2005, Box allows its users to share files and collaborate. It serves individuals and businesses with a mobile application available in various smartphone operating systems.

Capacity/Plans:

• Individual – 10 GB free, 100 GB at US11.50/month

• Business – 100 GB at USD5.80/month, Unlimited storage at USD17.30/month, Unlimited storage plus unlimited external collaborators at USD28.70/month

Amazon Drive

Amazon also joined the cloud offering in 2011 through the Amazon Drive. It offers users the capacity to store files on remote servers, back them up, and share them. Its additional feature is photo printing through the Amazon Prints service.

Capacity/Plans:

• Amazon Photos – unlimited storage for photos, 5 GB free (videos, music and other files)

• Amazon Drive storage (photos are not counted in the storage allocation if you are a Prime member) – 100 GB at USD11.99/year, 1 TB at USD59.99/year

• Prime membership – USD12.99/month

There are many more cloud platforms that you can find. It’s a business solution that can help you in running your venture more efficiently, especially if you have remote offices or team members in various locations. If you are considering using this in your operations, be sure to take a deeper look into its capacity, security, performance, and pricing. You can also check with other business owners on their experience in using any of the cloud platforms. Test first those you are considering before you decide which one is the best for your enterprise.

Business leadership styles you can learn from entertaining guests

You let friends and family members in. But even before they could settle, you gave them a rundown of your house rules. In short, you tell them how you want them to behave in your territory. While this can set the order in the home, it can also be restricting.

EO Melbourne is a rich repository of such learnings. Whether you interact with other members, attend chapter and global events, or listen to enriching speakers, you will find several sources of inspiration from other business leaders. Here you can refine your leadership style as you learn from the experiences of other entrepreneurs.

Apart from business groups and associations, you can also get a few insights on leading people from day-to-day occurrences. One example is on how you entertain guests in your home. We have our ways of treating visitors who come to our doors. See below where you come close as a host and as a business leader.

1.) Expects guests to abide by rules

You let friends and family members in. But even before they could settle, you gave them a rundown of your house rules. In short, you tell them how you want them to behave in your territory. While this can set the order in the home, it can also be restricting.

An organisation needs a leader who is visionary, firm and good in decision-making. Being authoritative allows business owners a lot of control over their ventures and saves them time and effort. It may be effective, especially in large companies, but it limits the participation of the team and can often lead to disgruntled members.

2.) Commands guests to do things

A gracious host sometimes offers refreshments to guests to make them feel at home. You make room for participation, but you give instructions to your guests on what they need to do every step of the way. They perform the tasks, but they do not have a say on the food preparation.

When you are leading a team, giving orders and directives is welcome, especially if time is short or a crisis is happening. However, it can suppress their creativity and capabilities. It leaves little room for your team to give their opinions and ideas, which may cause discontent and frustration among them.

3. ) Encourages guests to try things or activities

Guests feel encouraged when hosts show their know-how and allow visitors to try their hand on it. Imagine how fun it is if you are good at gardening or baking and you make your guests participate, allowing them to add their insights. It becomes an exchange of learnings that make the moment satisfying.

In the business setting, your people will feel inspired if you share your expertise with them and make room for them to infuse their proficiency. Having a bit of autonomy will allow them to make mistakes and learn from the experience. It can work if your members are quick to learn from coaching, but not for those who may not be able to execute ideas properly.

4.) Nurtures guests to make them feel comfortable

Hosts can make their guests feel good by drawing attention to their strengths. It can uplift their spirits, which can generate friendly conversations and warm ambience. But boundaries can get blurred and may be susceptible to abuse. They feel too at home that you may lose control over them.

Praise and nurture can foster a positive environment for your people. It is ideal if your team members are disciplined and efficient. The downside is that it may embolden people to slack in their work and settle for mediocrity.

5.) Asks guests for feedback

Visitors will feel valued if you ask them their opinion, preference and insight. They can voice out their perception and recommendations freely. With this, you can do activities at home based on suggestions of your guests.

Individual members of your team can shine if you inculcate a democratic process in your organisation. It is essential that trust and respect reign in such a set-up. Although it will make your staff satisfied, the method can stall development and progress.

6.) Sets an example for guests to follow

Sometimes you want visitors to behave in a certain way inside your home or do things without ordering them directly. You do this by showing how things are done, setting an example to them. Meanwhile, it can put pressure on your guests, with no guarantee that they will be able to keep up to your standards.

As a leader, you can set the pace of how your team should work. While it’s good to be their role model, this style of leadership may frustrate them if they are not able to meet your criteria.

Each style of leadership has its advantages and disadvantages. There is no perfect type, and you can always improve on your leadership. You may lean toward a particular leadership form, but you can adapt to different kinds of governance depending on the situation and the people involved. As you guide your flock towards success, steer them in the right direction using both your head and heart so you can discern the proper way to lead and motivate them.

Augmented Reality as a business tool

Augmented Reality (AR) has become a buzz term because of apps that utilise this technology. However, do not confuse AR with VR or virtual reality. VR provides an immersive experience beyond the physical realm into a simulated environment. Meanwhile, AR produces computer augmentations over a real scenario, mixing reality with enhanced graphics.

Still, AR is considered to be in the infancy stage. It started gaining popularity only recently because of games like Pokemon Go and social media enhancements like Instagram’s Superzoom. Several industries now incorporate this technology into their businesses. Let us take a look where AR can be applied to improve one’s products, services and operations.

Construction and interior design

Architects and interior designers can employ AR before building the physical structure by designing edifices and interior spaces where they can superimpose computer-generated images to real-life scenarios. It allows experts to foresee probable challenges and find solutions to them proactively.

Retail and clothing

The advent of e-commerce has brought shopping to a higher level that sparks creativity and innovation online and in-store. With AR, consumers can now preview goods before buying them and visualise how they fit in the actual realm. An example of this is the virtual dressing room of online shops.

Manufacturing and engineering

Creating products, machines or processes can be more precise with the aid of AR. Car manufacturers can factor in accurately crash scenarios. Others can calculate risks more effectively and address discrepancies between digital images and physical models.

Healthcare and Medicine

The breakthrough of AR into medicine can help save lives and improve health. X-rays, ultrasounds, patient monitoring and vein location, to name a few, can be more exact with the use of AR.

Education and training

Simulations are paving the way to in-depth training and honing of one’s skills. Some institutions have even started employing AR and VR into their methods of instruction. In the long run, schools will benefit from this technology in refining education and academics.

Travel and Tourism

There are many computer software and smartphone applications for travel that provide composite views of computer graphics and the real world. Users can view on their screens both the things around their environment and the information about them. Some apps provide accurate data on distance and directions that help in navigation.

Marketing and entertainment

We sometimes see newscasts and advertisements that use holograms. More and more brands attract consumers through AR apps and services. Not only do they gain attention and pique the interest of prospective buyers but they also engage customers through interactive features.

There’s a lot of room for progress with technology like AR. How it will move your industry and business remains to be seen. But as you keep your business abreast with technological advancements, don’t lose focus on relationships and putting human touch in your dealings with stakeholders. To expand your knowledge and understanding on the latest trends on entrepreneurship and business, take advantage of the learning events in EO Melbourne. Learn from fellow business owners and discuss with them the pros and cons of AR in one’s business.

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.