Sharpening the entrepreneurial mind through jigsaw puzzles

Puzzles are created to tickle the mind. Putting together pieces of jigsaw puzzles, especially the huge ones, can be both exciting and daunting. Finding the right one that fits a particular section is pleasurable, but not figuring out the correct positions can be frustrating. It is sometimes exasperating, yet it can hone your skills and sharpen your thinking.

There are few insights from solving jigsaw puzzles that you can apply to various aspects of life. Take a few lessons from it and bring it to your business and let your entrepreneurial abilities expand and grow.

Vision: A photo reference is important

Creators of jigsaw puzzles provide a picture of what the finished product looks like. It serves as a guide on how the pieces should go together.

As the founder of your venture, your vision for your business is an important guide to keep you on the right track. Put your vision into something concrete, such as a picture or representation, which can also be a reference and constant reminder to you, your staff and team members. Then build your plans and strategies around that vision.

Coherence: Every piece count  

No piece is less important than the other. Everything is needed to create a picture. They have to lock together to appear as a single entity.

Some entrepreneurs establish their business based on their hobbies or skills. An IT expert is more likely to start a technology-related business. Owning an enterprise entails more than just putting your talents into good use. There is a need to familiarise yourself with accounting, human resource, marketing, sales and other components that keep your venture running.

Hiring experts is the best way to drive it forward. However, you may not have the resources to put together a team during the initial stage. And even if you already have skilled staff members, you still need to oversee various aspects of your business to ensure they all work together in the same direction.

Strategy: Start with the edges

When all the pieces are messily mixed together, it may render you clueless as to where to start first. The best strategy is to assemble the boundaries to get clues on the next pieces.

A business leader looks for more efficient ways to reach his target at an accelerated rate. Start with your vision and then craft your plan on how to achieve it in a short time. A good strategy will save you the resources, time and effort. Break down your big goals into smaller ones and start with tasks that are easy and doable.

Experiment: Do trial and errors to find the right fit

A piece may look like the right one for a particular spot. But when you put it with the other pieces, it doesn’t fit at all. You have to try similar-looking pieces to know which one will truly fit.

In business, there are several hits and misses until you get the right solution to your problem. Trial-and-errors are often necessary for you to achieve success. Don’t be afraid to commit mistakes, although there’s nothing wrong with being cautious and calculating. Starting and growing a business requires taking risks, so be wise in making decisions that may affect you, your family or other people.

Teambuilding: Working together makes it faster

Working on a jigsaw puzzle may take time. Doing it with people you are comfortable with is a big help. It also makes the experience more enjoyable.

While having an extra hand doesn’t necessarily correspond to efficiency, working with people that share your vision, corporate culture, work ethics, passion and drive can ease some burdens. They can help you figure out things, carry out tasks and take care of your business.

Fun: Enjoy the process as well as the result

Solving jigsaw puzzles is a lot of fun. It can be a hobby, a collection or something you can play during parties or by yourself. The feeling of being able to put the last piece and complete the picture is very fulfilling.

It is a given that the entrepreneurial journey is filled with the proverbial potholes and humps. Challenges and hardships are constant in every business. Don’t forget to enjoy the experience and have fun while working towards your goals. And when you achieve success big or small, find time to celebrate.

Now, gather the remaining pieces of the puzzle and work towards completing the picture of your vision.

Tips on identifying your market segment

Your product or service is not for everyone. It is not something that can cater to people across all ages, income levels, sectors or geographic areas. Even if you are producing a variety of items that can fill up a department store, it doesn’t mean you can sell to anyone. Trying to do so can result in wasting your time, effort and resources, which is not a strategic way to do business.

Certain ventures operate B2B (business-to-business) while others are B2C (business-to-consumer). Nevertheless, it is still necessary to profile the type of clients that are being targeted so that messages, activities and tactics are geared towards them. In a roomful of people, can you determine which ones will be attracted to your brand and will say yes to your offer?

People nowadays are getting more diverse as new interests, priorities and needs prop up as time goes by. It’s not enough to say that you are aiming for mothers. There are first-time moms, single moms, young mothers, moms with teenage kids, working moms, stay-at-home moms, aging moms, and many more. Go specific on the segments you are targeting, especially those that will give you the most ROI to your business.

Segmenting your target market will help you focus your marketing initiatives. While you welcome anyone who will avail of your product or service, your budget and endeavours can be poured towards groups that will likely patronise your brand. They are the segment that looks at your merchandise or offering as a solution to their problems and needs. But, who are they? How do you define the market segments to target? Here are a few tips.

Observe your current customers

Have a careful look at the kind of people that enter your store or office. Observe their buying habits, characteristics and behaviours. What are the commonalities among these individuals? Is there something similar that they share?

Gather data on their demographics and psychographics

Some companies give out feedback forms or conduct surveys. These are ways of getting data from your current and prospective clientele. Know their gender, age, location, income levels, occupation, marital status and other information. Learn about their hobbies, interests, lifestyle, preferences, values and beliefs. These details will help you understand better the segments that will likely patronise your brand.

Profile your customers or clients

Once you have all these observations and information with you, group them and profile them. Analyse the profile of the majority in your market segments. Your primary target may be middle-age working moms who love to take charge of things at work and at home. The secondary market may be young ambitious males who want to lead an independent life.

Engage and interact with them

Gathering information and profiling your market is not enough. You have to communicate and interact with them. Get into their psyche. What do they find most satisfying about your product or service? What makes them connect to your brand? Understand their needs and wants and how your business plays a part in helping them satisfy those necessities and desires.

Constantly update your database

There’s a saying that the only constant in this world is change. Your business may evolve over time. Your target market will get older or experience things in life that will alter their perspective, preferences or priorities. Update your database every now and then and review your market segment every time you gather at the drawing board to plot your marketing strategies.

Check your competition and industry

Also, take time to see the customer base of your direct competitors. Look at the entire industry and the market that they serve. How do you differ from one another? What makes your target market segments drawn to your competitors? What is your positioning in the industry compared to other players in the field?

Segmenting your target market groups also helps you refine your brand and imaging. It is also a major factor to consider as you grow your venture. More importantly, knowing more about them establishes rapport and strengthens the relationship with your clients and customers, something that is at the core of every business.

Taking a break without breaking your bank

Affordable vacations for entrepreneurs

Entrepreneurs need to take a breather every now and then. However, it doesn’t mean that because you own a business, you can splurge on your vacation. Frugality is a value that every entrepreneur should uphold, which means you go on a budget while making the most out of your holiday.

How do you do this? First, set how much you want to spend on this trip. Second, determine if this is something you want to do alone or with a partner, the whole family or a group. Then, identify the activities you want to do and choose the destination for your holiday. Note that you don’t have to travel far to enjoy your vacation. What you are looking for may just be a few miles away from home or work. The purpose of leaving your familiar environment is to allow yourself to take in new scenery and space that may bring a refreshing energy to your body, mind and spirit.

There are plenty of things to do, see and try for free or at reasonable costs. Yes, it is possible to take a break without breaking your bank. Below are some ideas to get you started on planning your affordable vacation.

Backpack to a new city

Take the simple and cheap route to your holiday break by exploring a new city like a local. Ditch the luxurious hotels and organised tours. Stay in an inn and let the map (and your feet) take you to some hidden attractions. By doing this, not only will you save money but you can also interact with common people. Who knows, you might be able to get some ideas for your business and learn more about your customers through meeting with people from different walks of life.

Volunteer and vacation

There is a way to enjoy a place where you satisfy your mind and body and, at the same time, give back to it, which can satisfy your soul and spirit. Help a community and channel your energies to volunteer activities where you get a change of environment while doing something worthwhile. There are several non-profits and charities that provide volunteer opportunities as well as a chance to stay in a community.

Attend an EO Global events or meet other entrepreneurs

Make your vacation a learning holiday. Attend events and activities of EO held in other cities or countries. Take in a new perspective from entrepreneurs from around the globe. Meet other business owners while you enjoy a different atmosphere in another place. It will be a great experience to have a break while surrounded by like-minded individuals.

Hike or camp in nature

Get close to nature, breathe in the fresh air, and stretch your muscles by doing some physical activities. It doesn’t have to be somewhere far. Look near your place where you can get away from the hustle and bustle of work and have some peace and quiet in nature’s bosom. You can bring a friend, your spouse or your kids to have some quality time to bond together.

Take a learning trip

Bring your family to museums, national parks, historic sites or factories and learn together. You can do research ahead of time and plan your itinerary to surprise the kids. Make sure to insert something that will also add value to you, both as a family man and an entrepreneur.

Have a staycation with the family

If you prefer to stay indoors and just spend time lounging on the bed for that much-needed rest, you can opt to have a change of surroundings by staying at an affordable resort or hotel. Choose one with facilities that can cater to your various needs, especially those of the children. You can also visit other family members or relatives and stay in their place.

Whatever plans you have or your preferred holiday in mind, remember that you need this break to recharge yourself and come back with more enthusiasm and energy for your enterprise. It is also a time for self-reflection and strengthening ties with your family, friends and loved ones. Most of all, a vacation takes your mind from the daily routine of work and allow you to bring in a new perspective in life and business.

Media Relations 101 for Your Business

Building your brand and establishing a positive image to your target audience takes time, resources and effort. One strategy is to engage with the press to help you get your message across and develop your reputation to the public. A feature about you or your business on broadcast or print media has a different effect compared to an advertisement that is usually for self-promotion. Having a reputable journalist talk or write about you positively cultivates trust among your prospects and customers.

The best approach to get the media to your good side is to hire a PR firm or publicist, which may require some budget. But if you are a startup with limited resources, you may do your media relations on your own.  Familiarise yourself first with a few terms to understand how media relations work.

Media list

Put together the media contacts that you believe can help bridge you to your target audience. Every news outlet has different shows or sections that can accommodate your story. Watch TV, listen to the radio, and read newspapers, magazines and online news portals. Get to know editors, station managers, reporters, columnists and people who work in the media. Research is vital in connecting with the media. Each company or person has a different style, preference or quirk when it comes to their work. Learn how to approach media people and know what clicks and ticks for them.

Media engagement

E-mailing your pitch or story idea may work for some but not for others. There are those that you have to meet in person so you can explain your proposal face to face. Constantly giving a pitch every time you contact the press may lead to media fatigue. At times, you can ask how you can be of help to them. A symbiotic relationship with the media is what you should try to achieve. Engage them on a professional and personal level with sincerity and within the bounds of integrity and respect.

Media kit

Prepare your materials and put them together in a media kit. It includes your business profile, brochures, a press release of your event or background of your campaign, and some photos. It is better to put your media kit in digital format as well so that it will be easy for the press to download and edit it for their use.

Messaging

While you want to share as many information as possible, focus on key messages in every story or press release that you want to share with the media. Identify at most three important messages that you want them to put out to the public. If it’s about a new product or service, allow your story to revolve around it. Get the facts straight and understand every angle of your story idea before you approach the media.

Pitch

Whether you’re doing it through e-mail, phone or face-to-face meeting, be cordial and straightforward when you make your pitch. It’s like selling the story to the media. Let them see the value of your idea to their audience to make them utilise it in their section or show.

Exclusives

You can work with a particular journalist for an in-depth exclusive interview. Explore possible collaboration with radio and TV shows as well. For example, you can give them a tour of your facilities or a demonstration of how to create or use your product. While you may grant several interviews to various media outlets, you can always pitch a different story angle, depending on their focus and preference.

Press release

A press release is an article that you write, which appears as a news item written by a third party, containing vital information about what you want to announce to the public through media distribution. These are given to press outlets to place in their publication. For broadcast media, video or audio releases may be provided. The releases should be well-written, produced and edited so that they are ready to use by the press.

Press conference

If you want to announce something in person to various media outlets at the same time, you can organise a press conference. It also allows the press to ask you questions. To maintain control of the discussion, stick to your messaging and focus on the topic that you are announcing.

Doing media relations on your own takes a lot of time and effort. However, if you do it right, the rewards can be immense and long-lasting. View the media as your partner and ally in bringing important news that can change lives.

All about social entrepreneurship

Social entrepreneurship has become a buzz word nowadays as individuals and groups incorporate social and environmental causes with business. This kind of set-up allows the venture to channel a portion of the profits to programs that create an impact on a community or sector of society.

The difference with not-for-profit organisations is that they raise funds through grants or other similar efforts to finance the activities and programs of the charity. With social entrepreneurship, the people behind the enterprise adopt a business model that makes the organisation less dependent on grants through sustainable means.

Some companies establish a social enterprise separate from their core business to keep things in check. If you are contemplating to start one or want to support such type of venture, there are various ideas on the kind of social enterprise that you can develop. First, find your passion and strength that will allow you to devote your time and energy to this cause for the long haul. Second, determine the need and how you can help fill the gaps. Third, find people who are equally passionate as you are to lend you a hand in your social enterprise, whether as partners or volunteers.

Familiarise yourself with different types of social entrepreneurship to know more what it’s all about.

Microfinance

Working as a bank, microfinance provides credit and loans to groups that do not have access to formal financial institutions. It has been seen as a solution to alleviating poverty by providing capital for small enterprises.

Cooperative

A cooperative is composed of members that manage and run their business through shares. They also get a percentage based on their patronage to their services. Cooperatives may come in the form of consumers cooperative, credit union or multi-purpose offerings.

Fairtrade

Local producers are protected in the global market through fairtrade conditions that allow small players to promote their products and services. They are given equal opportunities to market their goods to their target clientele.

Responsible tourism

Communities have found an opportunity from travellers and volunteers who come and enjoy their locality. They operate responsible tourism by allowing backpackers to participate in community building efforts in protecting the environment.

Social firm

Instead of products, a social firm offers services, such as employment opportunities, to those who are at a disadvantage in society. Those who do not have ready access to such privileges are given attention so that they can compete equally with others in the labour field.

There are many more kinds and methods of social entrepreneurship. Forerunners and organisers establish this type of business to make a difference in society and create a better place for present and future generations. Social entrepreneurship is doing business with a heart, combining a good cause with profit that will be channelled to addressing social issues.

Tips for effective customer service

Businesses acknowledge the fact that retaining existing customers is more cost-efficient than seeking new clientele constantly. Consumers may extend their loyalty to a brand if they feel valued by the company and receive the ample attention they need. The danger lies when you commit and does nothing to salvage the damage done because customers can easily shift to another brand.

Nowadays, the public can quickly access the information they need through modern technology, which means they are more knowledgeable. The staggering options available can take their interest away from your brand. To counter this, investing in good customer service will help your company establish a strong support channel. If you truly subscribe to the adage that “the customer comes first,” then it is but apt to put your money’s worth on what you deem as the most important in your business.

Create a strong customer service team

The first thing to set up is a formidable customer service team that can quickly address various client concerns in any given situation. Hire competent people and train them well so that they can respond to customer needs and queries in a fast and amicable manner. Treat your employees well and keep them happy so that their positivity can radiate to the clientele they deal with, whether on social media, over the phone, via e-mail or through the face-to-face encounter.

Engage with them during and after-sales

When dealing with clients before and during sales, make sure that they get the best experience there is that they will find the transaction memorable. Take time to reach out to them after sales, to see how they are finding the product or service or to greet them during special occasions. Customers appreciate it when you keep them in mind. If there are foreseeable problems, it is better to take a proactive stance and inform them in advance instead of waiting for them to complain.

Gather their profile and contact information

Don’t lose your client’s contact details and viable information. Have a secure database where you store their data, including the kind of product or service they availed from your business. Keeping a record of these details can help you see the preferences and transaction histories of your clientele. It also enables you to customise and personalise your communication with them according to the information stored. Be sure, however, to always update your database regularly.

Use multi-channels to reach out to customers

Know where your customers are and make your brand accessible on various channels. Often, one source of frustration for consumers is not knowing how to get in touch with a particular business. Present and target customers must be able to find you online and offline. When you communicate with your clients, utilise different platforms to make sure that you have sent your message across and is well-received by them.

Emphasise on speed and quality

Be agile in attending to the needs of your clients. Speed is one thing that they will find admirable in a company. Pair this with quality service, where you provide the best attention and address every situation with utmost care.

Go the extra mile

Kind gestures, big or small, can warm someone else’s heart. Take consideration for those who need extra care, such as the elderly. Be patient when dealing with irate customers. Don’t overpromise, but overdeliver. Always wear a smile. Don’t just go after the sales, rather, go after the relationship. Moreover, do things more than is expected of you.

Customer service is a role that must not be confined within only one department of your company. Every person in your organisation should breathe and live good customer relations. Everyone must take part in ensuring that clients have a positive experience with your brand so that they will continue to patronise your business and even draw others to your fold.

Creating an exit strategy for your business

A business plan often centres around plotting how to establish a venture and grow it past the startup stage. Not many may include an exit strategy in the plan, thinking that such an idea only applies when things turn south, such as a loss or bankruptcy. On the contrary, an exit strategy is employed not only during difficult situations but even during times when the business is faring well, which is the more commendable route.

Those who think long-term see an exit strategy as a succession plan or a way to grow the business or the entrepreneur. An exit strategy is a plan by the owner, investor or venture capitalist to leave a business and withdraw its involvement, particularly from a financial standpoint.

Reasons to exit a business

There are various reasons why an owner would exit from the business. Some of them may be personal intentions or may be due to economics. Such motives, although not all, may be any of the following:

• Health – Running a business may take a toll on one’s well-being physically, emotionally and mentally. It is not at all times that the entrepreneur is at the pink of health, and age or retirement is also inevitable.

• Family – Priorities change over time. One may prefer to spend more time with their families or may have to move to a different location or more pressing matters that require his attention.

• Financial disruptions – Internal and external factors always affect the security of the business. Mismanagement, fraud, legal battles, economic crisis, natural disaster – all these may suddenly turn the enterprise upside down.

• Change of interest – One’s focus or interest may evolve along the entrepreneurial journey. The owner or investor may find something more interesting to devote his time, resources and energy.

• Better opportunities – A better offer or opening for the owner may be a motivation to leave the business. Something more attractive and lucrative that may come along the way that can be too difficult to resist.

• Growth for the business – Often, the best direction to increase the capacity of the enterprise is to place it on the hands of someone who can handle such growth.

• Serial entrepreneur – Many entrepreneurs are good in establishing startups that they find fulfilment in creating ventures, making them grow and then transitioning the business to new owners.

Methods to exit a business

An entrepreneur or investor may look into different possibilities for exiting a business. Below are various options that you can review to choose the best approach to pass on the venture to a new owner or set of owners. Each has its pros and cons, so it is better to consult with experts rather than jumping into a decision that may bring more drawbacks than benefits to you and your investors. Keep in mind as well that the process of exiting does not happen overnight, and the transition may take longer than expected.

• Initial Public Offering (IPO) – making your business public means selling your stocks to anyone interested to be a shareholder. This option can bring in big returns and may enable you to return the capital of your investors. However, it may require several things, including satisfying stockholders, which means conditions must be good enough to attract buyers. Plus, one has to be ready for varying scenarios as the stock market may sometimes be volatile. Going public can become a huge success, but the risks are also high.

• Mergers and acquisitions (M&A) – a bigger company of similar interests or from the same industry may acquire your business or merge it to their current set-up. This method allows the acquiring company to enlarge its scope and offerings while, at the same time, provide the acquired company with the benefit of recouping its investments.

• Management buyouts – the people who best know your business inside-out are your executives and employees. They may be setting their eyes at owning the company, and the buyout will be an opportunity for them to have a bigger stake in the enterprise. It also allows for a smoother transition, which may be more amenable to your present partners and clientele.

• Family succession – if any of your family members is involved in the business or has their eye on the company, you can maintain your legacy by passing on your enterprise to them.

• Sell shares to partners – if the venture is owned by two or more individuals, there is the likelihood of selling your shares to any or all of the remaining business partners. It’s an easier path for the majority, but this is only applicable to ventures where it’s not a sole proprietorship.

• Sell to an individual or group – none within your internal environment may be interested in taking over the company. You can then look into a private individual or group of persons that may want to buy the enterprise.

If things are not going well and your exit strategy is your last resort, then you may consider liquidating your business or filing for bankruptcy. But you wouldn’t want to have a bleak end to all your efforts, that’s why it’s good to have an exit strategy prepared at a crucial point of your venture. Always be ready for the inevitable and take action before do not turn on your favour. So, think ahead and start drafting your exit strategies that will end in a win-win situation for everyone.

The role of middle management in an organisation

For a lack of a better term, middle management is the level in a corporate structure that bridges the senior executives and the junior ranks. While most startups may have a leaner configuration of staff members and flatter organisational chart, those that expand and increase their people may see the need to manage and put an order in their teams through units and layers.

Not many may subscribe to the school of thought of putting a tier between upper management and low-ranking associates. However, there are those who see the difference between supervising 5 to 10 people from overseeing 30 or more members. For those who are contemplating hiring managers to streamline functions and improve corporate performance, it’s time to take a closer look at the role middle managers should portray within an organisation.

Team leaders

As industries and the workforce evolve and develop through changing times, middle managers are more empowered to create, conceptualise and make decisions for the good of the organisation. Gone are the days when they are perceived only as a go-between that accepts and carries out directives from the higher-ups. Entrepreneurs can stay on top of their business if they have self-sufficient managers that can help them realise their vision and bring the entire team towards the goal.

Managers provide directions, cascade the corporate thrust, and pay attention to details, which may be too burdensome for the business owner if it were a flat organisational structure. Delegate your role to leaders who can uphold your aspirations and improve productivity. Such leaders can help correct errors, fill in gaps and tighten loose ends, which may occupy so much time and energy of business owners.

Relationship builders

Middle managers have closer interaction with frontline employees, which make their role as relationship builders crucial to the business. They have to be effective in communicating the vision and mission of the enterprise and translating the corporate culture to the day-to-day operations and activities of their team. Building cooperation and mutual trust between and among the senior management and the rank and file is one of the competencies managers should have that is significant to the growth and success of the company.

Accelerators and motivators

The advantage of having a middle management level in an organisation is that it loosens the bottleneck and ensures swift action to get things done. They have to be quick in solving problems and putting out fires, boosting the morale of the team, listening to the ideas and feedback of members, and accelerating growth to bring the venture closer to its destination at the shortest time possible. Managers provide the needed energy and force to thrust the business forward as they encourage their people and inspire them to carry out their functions effectively.

Strategists

One of the capabilities that middle managers should possess is breaking long-term goals to short-term targets and turning plans into actionable items using strategies that yield positive results. They know how to navigate through a situation, mapping out methods even with limited resources. Having efficient managers can help you put together pieces of the puzzle in a most creative way as they imbibe your vision and employ tactics to achieve it.

Probably, you may be in a situation where there is still no need to put a middle manager for now. If you get to the point where you have to fill this position in your structure, be sure to revisit the qualities and roles that your manager should uphold in your organisation.

The vital aspect of making middle management an effective tool for human resource and employee engagement is finding the best candidate that suits the role. A person who embodies the right corporate culture, ethics, values and skills will be beneficial to your business. The middle management tier will only work if you have the perfect person for the job who will aid you in bringing your venture and the whole team towards your goals.

Entrepreneurial lessons from wine-making

On special occasions or to cap the night on a relaxing mood, a glass of wine can add sparkle and colour to any scenario. Wine is also a symbol of luxury, which used to be the drink of the kings and the rich. It has a long history, recorded in ancient books and manuscripts. However, behind the glamour ascribed to wines is a tedious process where we can pick a few lessons that we can bring to the business space.

Imagine taking a sip of wine and absorbing the various insights and inspiration that go with it. From growing the grapes to manufacturing the wine to aging it and bottling it, the procedure entails lots of obstacles and complexities. Several factors may affect the taste and quality of the end product. It takes a lot of patience, hard work and diligence to be able to produce good wine, similar to how it is when you want to achieve your entrepreneurial goals.

Knowledge and hard work are valuable

A vineyard requires land, storage and equipment. It involves a huge investment of money, time and energy. Wine-making can be laborious, which is why passion and determination are needed to produce good wine. You have to know the right kind of grape species and how to grow them successfully. Different processes and blend can produce varied flavours of wine. A good understanding of wine will make you become a connoisseur that will earn the trust of wine lovers.

As an entrepreneur, constantly updating yourself of information about the industry and doing research on your target market are vital tools in decision-making. Knowledge and skills of various aspects of your business will give you a macro and micro point of view of your venture, which can help you easily spot an opportunity or threat.

Fostering good conditions for your product can yield positive results

Grapes can grow well in suitable conditions, which includes weather, rainfall, type of soil, and other elements. Other components, such as the manner of pressing, the mixture of yeast and other ingredients, the wood used for the barrel, the temperature of the storeroom, the period of aging the wine and the like, are necessary for wine-making. It is important to choose the appropriate spot for your vineyard and winery so that you can produce good quality wine.

Putting importance on corporate culture and providing a positive environment for your team can enhance the productivity of your people. Strategic location and proper tools and equipment will put an edge on your venture over your competitors. As to your clients and consumers, good customer service and relations, notwithstanding high-quality offerings, will be beneficial to nurturing loyalty among them.

Pressure can squeeze out the flavours of grapes

The grapes are crushed and pressed to remove the juice from the fruit. It is a necessary step to squeeze out the flavour from the grapes and make the wine more pleasant to drink. Old methods had wine-makers stomp on the grapes. Now, modern machines do this process of extraction.

The entrepreneurial journey is a roller-coaster ride that is full of challenges. Nonetheless, such experiences mould you to become a better person and entrepreneur. It brings you immense lessons that are more impactful than those you read from books or hear from other experts. When hardships come your way, embrace them and turn them into learning encounters that can develop you to become the best in your field.

Patience develops taste (and character)

The entire process of wine-making takes years. Waiting is inevitable. But it’s not passive waiting. The wine is fermented, filtered, clarified and placed in barrels or bottles for aging.

They say that wine improves with age, so the longer you stay in the entrepreneurial space, the more lessons you reap. There are areas where you can accelerate success, but there are parts of the journey that you cannot take a short cut. Patience and perseverance are key because the passage to success can be slow at times. Dedication to your craft is also instrumental in achieving the results you envision for your venture.

Indeed, wine-making and entrepreneurship are both difficult paths to take, which is a reason why you need to pop a bottle of this precious drink when the occasion calls for it. Wine also symbolises celebration, and commemorating successes, big or small, can motivate you to keep going until you reach your goals. Remember that a delectable wine did not happen overnight. The process may be arduous, long and tough. However, if you endure and persist through the hardships, the result can be vivacious and bright.

Building self-confidence in entrepreneurs

Taking the entrepreneurial journey requires a lot of guts and courage because the path is full of difficulties and hardships. To be an entrepreneur means you’re ready to take risks, and becoming one is already an indication of confidence. But not at all times you may be brave enough to face various challenges. There are moments when fear and timidity set in, and it can cause you to crumble from the inside.

Self-confidence is an important quality of an entrepreneur in various stages of the journey from pre-inauguration to startup to growth to expansion. Business owners represent their company and lead their teams, which is why belief in one’s self is necessary to carry out these roles and make swift decisions.

A healthy dose of self-assurance is advantageous in attracting partners and customers, closing deals, transacting with suppliers, managing staff, and steering the company to the direction you want. If you are nervous, introverted, reserved or afraid, it’s never too late to build the self-confidence you need so that you can bring your business to a better and brighter place.

Reflect for self-awareness

One way to build that courage you need is to reflect on your qualities, both good and bad. Self-awareness will help you see your positive points as well as areas for improvement. Do not be discouraged by your weak areas, but see it as an opportunity for growth. Focus on your strong characteristics and see how you can use this to push your business forward.

Compliment and reward yourself

Never rely on external forces to make you feel good. Praises from others may make your heart flutter, but inner awareness of your positive traits can give you that boost of confidence to pursue things, regardless of the results. Pat yourself on the back and reward yourself for the wonderful job you have done. No one can make you feel any better other than yourself.

Work on your fears and weaknesses

Criticisms are part of life. Do not be afraid to fail. Otherwise, you’ll never try and take a risk. There may be people who will be disappointed when you do not meet their expectations. Never allow this to stop you or dampen your spirit. Instead, treat it as a learning experience where you can grow and improve yourself. If you are aware of your weaknesses and fears, work on it. Do you have stage fright? Expose yourself more through endeavours like public speaking.

Set goals outside of your comfort zone

Try something new. Expand your social boundaries. Do activities outside of your routine. Get out of your comfort zone and allow yourself to grow beyond what you have been used to do. Start with something that you have been interested in doing but never got around to trying it. Make a checklist of things you want to initiate and create a plan to ensure you implement them. Check every item you have accomplished, as it will help you feel good about yourself.

Join groups and clubs

Meeting various kinds of people can open your mind to different perspectives and ideas. It can also lead you to many opportunities and possibilities because you can learn from their experiences, especially those who have been on the entrepreneurial path ahead of you. Join business groups like EO Melbourne or clubs for your new hobby where you can interact with other entrepreneurs and skilled individuals. It will help you gain the confidence to face experts or those in position.

Attend learning events and expand your knowledge

When you acquire more knowledge and skills, you also increase your level of belief in yourself. Find a suitable method that can help you learn more expertise. You can attend learning events from EO Melbourne or similar setting, participate in seminars or conferences, or go back to school to study or obtain additional courses.

Find a mentor

It takes baby steps at the start of the entrepreneurial journey to keep moving. If you are afraid to take the big leap, you can get a mentor to guide you at the beginning so you will be able to walk confidently by yourself. There are various ways to find a mentor, which we have outlined in this article.

The best way to build self-confidence is to get out and acquire as much experience as possible. It may not happen overnight, but it will develop as you go along. The mind is the best tool to induce faith in one’s self. Appreciate yourself more and present that side to others. People will see your value through the value that you give yourself.

Ways of doing competitor’s analysis

Every business has competition. It’s a factor that you have to consider in making business decisions. Numbers may indicate that you have a positive bottom line, but you also have to check your portion in the market share. There may be an opportunity to increase your piece and get a bigger slice of the pie. How do you do it?

First, you need to gather information and take a look at the bigger picture to determine how you can grow your market segment. A competitor’s analysis is necessary to determine the other players in the industry so you can strategise how to position your business at a higher part of the pyramid.

Healthy competition is good. Having a strong competitor may indicate that the other business is doing something effective that appeals to your target market. Analysing them can bring you insights on how to improve your business.

Start your evaluation by listing down 5 to 10 businesses from your industry that pursues similar customers. If you have a store, include those within your vicinity or locale. You can create a matrix to profile your competitors, which may incorporate a SWOT (strength, weakness, opportunity, threat) analysis of each. Fill in the information through research and data-gathering. Here are some ways you can get data about businesses that offer the same products or services to your target clients.

Online search

A rich repository of information is the worldwide web. You can check your competitors’ websites and social media accounts and analyse their traffic, influence and engagement with their followers. There are websites that measure and compare online metrics of your brand and those of other players in your field. Other online sources are blogs and review sites where you can read the opinion of other people on various brands.

Media scanning

Browse through articles and features of your competitors and see how the media portray them. Review how frequent other businesses are showcased and evaluate the effect these stories are on their brand.

Industry reports

Annual reports and industry documents may reveal relevant data that can help you gauge your competitors’ standing and assess them with yours. These reports may include financial data, graphs and other metrics that you can use in your business.

Surveys, FGD and interviews

Either you hire a research company or do the market research yourself, talking directly to customers, suppliers and other stakeholders in the industry is a big help. Methods you can use are surveys, focused group discussion or interviews, whether formal or informal. You can determine the reputation of your competitors based on the responses and feedback of your interviewees. Talk to other experts in the industry, some of which may be within your circle or in groups like EO Melbourne.

Keen observation

Try the products and services of your competitors. Visit their stores and offices. Engage with their employees. Know the situation firsthand by witnessing how the target market patronises their offerings. Through this method, you will see the best practices of your competitors, as well as areas for improvement, which you can learn and apply in your business.

When you have gathered the information and made a comprehensive profile of your competitors, determine your positioning in the market. From there, strategise how you can bring your business towards the top. You may already be doing well right now, but don’t settle for good when you can aim to be the best in your industry.

Creating a winning presentation tool

Do you need to entice an investor, attract a client, talk in a seminar or persuade a partner to move forward with your business? In occasions like these, you might need to come up with a powerful presentation to drive your point and close a transaction fast and effectively.

While facing your audience is the most crucial part of the presentation, it all begins when you prepare your materials. Several tools are available to aid you in conveying your message, but the easiest and most common one is creating PowerPoint slides. Some people may not focus much on this, but it can make or break the business deal. Your presentation materials can capture the attention of your audience, allow you to deliver the points you want to put across and convince them to agree towards achieving your objectives.

How do you do that? A few pointers can help you put together a powerful presentation tool that can lead you to a resounding success.

Focus on your message

The meat of your presentation is your content. Work first on the copy and the message you want to impart before you think of the aesthetics. When you have perfected this part, everything will come into play. Don’t make your messages too wordy. Emphasise on the main ideas so that your audience won’t have information overload and get lost in the myriad of concepts and data.

Organise the flow

Even if you have great ideas and important facts to share, but if you do not arrange them in a cohesive flow, you will still lose your audience along the way. Know how to transition from one thought to another and learn how to build up your drift to the climax of your presentation. It’s like storytelling, where you have an impactful introduction, a substantial midpoint, a stimulating highlight, and a convincing ending.

Make it visually appealing

Once you have nailed your content and organisation of ideas, it’s time to turn into the visuals and how to make them appealing enough to attract and maintain the interest of your listeners. Remember that your design represents your brand, so you have to include the qualities of your company and reflect that to your presentation tool.

Use powerful images

Photos and images are more powerful than words. Those who are on the receiving end of your message can visualise your ideas better if you have pictures that can represent them. Be sure to use photographs that are of high quality and easy to understand. They have to be interesting enough so as not to bore your audience.

Less clutter, more impact

Don’t put too many visuals in one slide. The simpler, the better. Keep away from too much animation that can distract your viewers. If you put several graphics in one slide, the tendency is that your audience will lose focus on the main thought.

Cut down on words

Too many words can be a strain to the eyes. Your copy should not be heavy. Instead, include only key phrases that participants need to remember. Use bullet points to break down ideas.

Use the right colours and font

Avoid neon colours in your presentation tools. A dark background is good when you are using a projector. Contrast the shade of your text to your background so that they are readable. Make the fonts big enough for them to be readable to people at the back.

Be consistent with your format

Moreover, consistency is key. Your format and layout have to be coherent to make it more memorable. Changing from one design and arrangement to another can confuse your receiver. A consistent format can also strengthen the image of your brand.

With your tools at hand, practise your presentation so that you become more compelling in your delivery. Remember that your PowerPoint slides, videos or materials are only your aides in expressing your thoughts. In the end, how you articulate your ideas will enable you to achieve the objectives of your presentation.

The advantages of an employee performance appraisal

There are costs and benefits in implementing an employee performance appraisal in an organisation. It requires energy, time and resources to conduct it annually. If the execution is off-tangent, it can even leave a negative impact on the team. On the other hand, an effective appraisal system can boost the morale of your people.

Experts have come up with different methods in conducting performance appraisal. Performance management has developed and continues to evolve as different tools, templates and processes are created to suit varying corporate environments. The best way is to hire a professional who can handle your human resources or get a consultant that can manage the evaluation process of your company efficiently. The important part is not to lose focus on the objectives of the performance appraisal.

A lean organisation might not see the immediate need for an employee performance evaluation as you can easily gauge the performance of your staff. However, companies that are growing will find it useful in the long run, putting an order in the movement of people within the establishment.

Establishing good relations with staff

Companies conduct an evaluation of employees with the intent of reviewing their output and fit in the corporate environment. But it is also an avenue for management to strengthen relations with staff members. Employees can take this opportunity to openly express themselves and communicate their opinion and insights, especially in a one-on-one setting. This way, trust is established within your business.

Alignment of company goals with individual members

Employee appraisals provide the management with a platform to reiterate the company’s vision as they can review employee performances’ alignment with the overall goals. Your staff may be delivering good results, but if they are not in harmony with the company goals, they need to be re-directed to the objectives of the business.

Rewarding good performers

There’s a threshold of positive outcomes from good performers if they are not rewarded or commended. It can dishearten or burden them, thinking that their actions are not getting the right attention they deserve. Recognising their efforts through a promotion or upgrade will encourage them to continue with their admirable work and even strive to excel and be better. It’s difficult to keep good people, so an appraisal can be a tool to maintain them in your team.

Motivating dispirited team members

Problem employees are part of the reality of an entrepreneur. It’s not always the case, but when it happens, there are ways to deal with it. During the evaluation process, you can discuss sensitive topics like this and agree on a win-win solution for both the company and the staff. Sometimes, letting go is the most viable option, but you have to set a period where the employee can still improve himself or for the company to determine if he has the right fit.

Planning employee’s career development

Generally, the appraisal can be a basis on how to plot the development of your people within the organisation. You can do more than just giving feedback because you can also take this chance for coaching and mentoring.

You can review your performance management system regularly to check if it still serves your purpose or if it’s time to look into other systems available. The employee performance appraisal should be a tool to help your business forward, not a hindrance that will hamper your operations.

Pivoting in the entrepreneurial world

Have you ever walked down a road, so sure of your direction only to find out midway that you’ve taken the wrong path? Even in the entrepreneurial journey, mistakes and change are bound to happen. The initial goal may no longer be viable under the present circumstances, and a crossroad of choices appears before you. You can give up, continue with your original intent but with a few tweaks, go back to the beginning and redo things, or pivot and make a major overhaul of your business.

Pivoting is an option that some startups choose when faced by dangerous entrepreneurial waves. Unfavourable situations can take a toll on your business. For example, your numbers are hitting red, customers are not buying your product or service, or your business is no longer staying relevant. These are some conditions wherein you need to take a step back, review your business plan and ponder if you need to pivot and take some drastic measures in your venture.

A word of caution, however, because pivoting does not necessarily lead to the road of success at all times. It is never easy, but if business owners traverse through the shift carefully, pivoting can be their lifesaver. First, you need to look at a few things before you make a risky move in your enterprise.

Vision and goals

Is your business direction still leading you to your goals? Is your vision still relevant to the changing times? These are a few questions you need to reflect when you are thinking of doing a pivot. You have probably determined that something’s amiss, which led you to a decision to pivot your venture. Go back to the basics and revisit the purpose you want your business to pursue.

Funding

Do you have enough resources to do the pivot? The changes you have in mind may be costly to execute, so you have to weigh things based on your capabilities and funds. Calculate first how much you need to invest and the amount required to get you going for a year or so. Otherwise, you may just hit a blank wall if you don’t have enough fuel to run your business on a sharp turn.

Partners and team

Are your family members, business partners, investors, colleagues and team members supportive of your decision to pivot? Remember that the alteration of your business route will also affect other people’s lives. There may be resistance, and you might have to let go of some people. Still, it is important to keep people engaged to your cause because it will be difficult to make the shift if you do not have people behind you to help you carry the weight that comes with the change.

Target market

Will your prospects, customers and clients be receptive of the new course you are taking? Don’t forget to employ market research before you take the initial step to pivot. Some businesses experience failure because they have not made a thorough study of their internal and external environments. Data and information will be your tools to effectively plot the next steps towards the new path you are taking.

Competitors

Can you compete with other players in the industry? Will you be able to carve a niche for your business in the space where you are operating? Gauge the positioning that your business is capable of taking in the market pie. Envision how you are going to survive in your industry and make your way to the top. Your pivot should give you a higher chance of capturing a better place in your field.

Certain brands achieve success because of an effective pivot that they did to their business. Cover all bases and look at things from different angles. Gather some confidence and wisdom from the stories of entrepreneurs who have made a successful shift in their businesses. In the end, you’ll never really know the outcome unless you take the plunge and try it. Who knows where the other road will lead you? Just keep moving forward until you reach the destination you have in mind.

To VA or not to VA: the benefits of a virtual assistant

Goals and checklists are good, but if your day is not enough to fulfil all your tasks and responsibilities, you end up delivering work that is not at par with the quality expected or you suffer from burnout, fatigue and other illnesses. Managing time and obligations is one of the biggest challenges of entrepreneurs. Some of them turn for help by hiring virtual assistants who can do certain jobs on their behalf. It is an option to unload one from mundane work to focus more on urgent matters in the business.

What is a VA?

A virtual assistant or VA is someone who provides backend support to your business or personal projects online. They manage things remotely based on what you assign them to fulfil. Mode of communication is through e-mails, messaging apps and online meeting platforms.

There are different kinds of virtual assistants. Some operate solo, while others belong to a group. A VA can be a digital nomad, transferring from one place to another, or based in one location alone. You can choose the capacity and expertise you need from a VA as some are more adept on administrative work, while others act more like consultants and business managers. They need to have some level of skill and proficiency because they can handle things themselves with less supervision.

What does a VA do?

There is a wide range of things that a VA can accomplish, depending on your needs. A VA can answer your emails, set up your schedules, coordinate your travels, create reports, manage your social media accounts, do clerical work, and other tasks that you can delegate. If you are hiring a VA based on expertise, you can designate your VA to do sales and marketing, bookkeeping and accounting, copywriting and content generation, or other specialised jobs.

What are the benefits of having a VA?

Before you consider hiring a VA, examine first if you need a VA or not. It is not a guarantee that getting a VA will not pose any problem to you or your enterprise. It may either work for you or not. That is why it is understandable if you have apprehensions of getting someone from a remote location do things for you. If this is the case, talk to other business owners who have done it successfully. EO Melbourne is one venue where you can seek answers to your questions through the experiences of entrepreneurs who have benefitted from having a VA.

For a start, take into consideration the advantages of a VA before you discard the idea.

Time-saving and faster output

Spending half a day going through your e-mails and replying to them can be draining and less productive. But if you have someone who can organise your correspondences, showing you only what’s urgent, then you can devote your time to more important matters in your business. With a VA, you can delegate tasks that may not require your immediate attention, saving you time and enabling you to produce outputs at an accelerated rate.

Focus on essential tasks

If you review your checklist of tasks and rank them according to urgency, you’ll find that many trivial things take your mind away from your big roles. Organising your contact list, sending out invites, following-up people and similar activities can often blur your concentration on decision-making responsibilities. A VA can take over some of those tasks so you can focus on more essential things that can allow you to steer your business towards your goal.

Quality work

Having a busy schedule is not a sure-fire formula to success. If you’re too hands-on in every aspect of the venture and you’re all over the place, you may miss out on important matters or deliver haphazard service, which can cause your business to suffer in the long run. You need someone like a VA to help you carry the load and enable you to produce quality work that can appeal to your clients and customers.

Fills in gaps

A VA can help you fill in the gaps and take care of the details that you might have missed. With all the action items you need to tick off, it is inevitable that you’ll forget or overlook something. Cover all bases by getting a VA that can make sure that nothing slips through.

Flexibility

When you know there’s someone who attends to your business while you are out of the office, you can go to a client meeting or sales call or spend a vacation with your family with some peace of mind. The VA can do the work you assigned on specific periods or as needed, so it allows you to be flexible in your business as well.

Efficient use of budget

Since the VA does not occupy office space and use supplies and equipment, you get to save on your budget. Also, it is more cost-efficient to maintain a VA than a physical office secretary. The VA takes care of filing for individual taxes and benefits. It’s also value-for-money to have someone do things for you than you doing things on your own, which may make your operations suffer along the way.

Where and how to find a VA

If indicators in your assessment point to more advantages of hiring a VA than not having one, then you have to find a person that fits your requirements. First, list down the qualities you are looking for in a VA. Then write the tasks you need to delegate to this person. The hunt begins when you have determined the kind of VA you want.

Freelance websites like Upwork, Freelancer, Guru, Toptal, Peopleperhour, VAnetworking, and TaskRabbit, to name a few, can provide you access to millions of prospective VAs. Check out other sites and consult with other entrepreneurs where you can mine great talents for your business.

Creating an effective business plan

A business plan is a tool that will help you get to your entrepreneurial destination within the timeframe you set or even at a faster pace. It provides you with a map and directions on how to get there.  Not everyone may be able to read a map, as much as not many may find a business plan useful.  Maybe not in all circumstances, but in major crossroads of your entrepreneurial journey, it is advantageous to have something that you can refer to that can help you stay focused on your goals.

Whether you are opening a new business, launching a new product or service, expanding or growing your venture, bringing in more investors or coming up with a new campaign, a business plan will help you put form and shape to your ideas and plot out the details. It will also help your stakeholders visualise what you have in mind and bring them on board on your journey.

There are templates available online, and you can choose one that is most suitable for your organisation. Keep your plan short and direct to the point, but cover all the bases. Take into consideration the following factors that you may need when you draft your business plan.

Gather data and verify them

“Knowledge is power,” as they say, and every bit of information about your industry and other key players in your field may be useful to your plan. You have to know everything about your target market – what clicks and what ticks them. Research statistics, do a survey, conduct focused group discussions or interviews, visit sites or read materials about your prospective customers and competitors. Check the industry pricing, the sources of materials you need, and the people known in your business arena. While you’re into it, make sure to verify all the facts you gathered as they may change from time to time.

Analyse your current situation

Armed with the data you gathered, match them with your current situation and evaluate your position in the market. Conduct a SWOT analysis to review your strengths, weaknesses, opportunities and threats, then address the things you need to do to enable your business to operate towards the direction you want it to take.

Set targets

The main ingredient in a business plan is your objectives. You create a plan because you want to achieve something. However, be SMART in creating your goals. They have to be specific, measurable, achievable, realistic and time-bound. When you do your regular monitoring and evaluation, whether it’s monthly or quarterly or annually, you will have to refer to your objectives to see where you are in your journey towards your targets. It would be better to break down your timeline into monthly goals so you can keep track of your progress easily.

Plot strategies

Once you have defined your objectives, strategise how you will be able to attain them. Outline the steps on how you can market your business and appeal to your target customers. When it comes to mapping out your business journey, find the fastest way possible to get from point A to point B and the kind of vehicle you need to take to arrive there.

Make detailed action plans

With your objectives as your compass and your strategies as your map, you can fill in the gaps with specific action plans, complete with a timeline and comprehensive information. Put alternatives and contingency plans in scenarios where your plan may not work out as expected. Include point persons from your team and people who can help you carry out your action points.

Assign figures and costs

To complete your business plan, it should have a budget and projections, which will help you keep track of your expenses and sales. The financial aspect is significant in any business because it allows you to check if your investment is growing, remaining the same or going the opposite way. Make your budget thorough so that you can approximate how much you need to shell out for you to realise your goals.

When you have finished writing your business plan, put it somewhere visible and accessible. Refer to it in your regular huddles. Share your plan with your team or, better yet, draft the plan with them. Get everyone on board, including your family members and friends. Adjust items if necessary.

If you are not confident with your business plan, consult with a mentor or colleague. Listen to the stories of other entrepreneurs, such as those in EO, and attend learning events to get more pointers on how to make your plan work. Lastly, a plan will only be as effective as the actual output you do. Let not your plans go to waste. As you have converted your ideas into words, bring life to it through your actions.

Why make your business green

Our planet is aging. It is a fact that we cannot ignore. Harmful products and activities contribute to the worsening of our ecological problems. The rising concern on our environment has heightened the awareness of several industries and markets to take steps in preserving our ecosystem. Going green has become a buzz word where small to large companies implement ways to lessen the negative impact of their operations on the environment, society and the economy.

You, too, can be part of this undertaking by shifting your venture to become a sustainable enterprise. It starts from the vision, mission and values of your company where you take to heart environment principles in every aspect of your business. You can go paperless, plant more trees, conduct regular clean-ups, limit utility and energy consumption, remove hazardous ingredients in your products, recycle and reuse materials and wastes, lessen the use of natural gas, utilise renewable energy, carpool, and many other methods that can minimise your outfit’s negative effects to the earth’s natural environs.

It may take a lot of major changes to convert into a green business, but the rewards are huge and with a lasting effect. It can outweigh the birth pains that you have to go through when you transform your business. The advantages can benefit greatly your enterprise as well as stakeholders and other sectors of society.

Good for the environment

We only have one earth, and we are its stewards. Whatever we do to our biodiversity will eventually come back to us because we live in a network of ecological units. When you make a move to protect the environment, you will also reap the fruits of your labour, which can even extend to your family and loved ones, the future generation, and those in your community. Who wouldn’t want to see our planet lush and verdant? A clean environment can make us healthy and well, while the opposite can bring us many problems.

Less cost and more savings

If you keep track of your company’s usage and limit your wastage, you can lower your spending and secure some savings for your business. You may have to invest in executing changes and adjustments in the onset, but you’ll save a significant amount in the long-term.

Positive image and brand reputation

Your sincerity to push for sustainable development will see through your messaging, actions, initiatives and the endeavours that you support. It will appeal to the government, communities, industry players, and the general public. Running a green business will earn the trust of various sectors and enhance your brand’s reputation. A positive image is essential in the entrepreneurial space because things can work favourably for you. To maintain the public’s confidence in your venture, you have to be consistent in your fervour of making your business green.

Marketing advantage

Letting the public know that you are a sustainable business will give you a bigger chance of earning their support. They may patronise your products and services and keep you top-of-mind. Whether it will lead to bigger sales or not, it will allow your enterprise to be a vehicle for educating people about protecting the planet. You can even take your advocacy further by creating cause-related marketing campaigns that will benefit a non-profit or local community.

Stronger team satisfaction

Another benefit of becoming a green business is the increased morale of your internal team. They will work harder, knowing that there is a bigger cause than just aiming for targets and securing sales. Going green also means looking after their welfare and the people they love, advancing their wellbeing and those of their families and friends.

The age-old proverb “You reap what you sow” is an assertion that when you do good deeds, such as care for the environment, you will also enjoy its benefits. Becoming a green business will create ripples of progressive impact to more generations in the future. Imagine if several businesses will take this direction. Surely, many people will enjoy the positive change it can do to our communities.

With all the natural calamities and changes our planet is experiencing, it is never too late to take action to save Mother Earth. All it takes is the conviction to take action by going green and helping protect our environment. After all, we only have one earth, and we have to do everything we can to preserve it.

Tips on creating a successful event for marketing

Most brands and companies organise events to nowadays promote their products and services to their target audience. While it takes a lot of resources and effort to stage an event, organisations still consider it as an important tool in marketing because it provides an opportunity for the brand to have a face-to-face interaction with their market, giving them an experiential taste of their offerings. It can also result in instant sales and feedback if utilised wisely.

Examples of events that can boost your sales and marketing are product launches, press conferences, trade fairs, seminars, exhibits, mall tour, and the like. You can be as creative as you can and make it either intimate or huge.

Organising an event, big or small, is a tedious process. You may need to hire the services of experts to mount a successful one. However, with limited resources, you may opt to do things by yourself. If you are in such a situation, you can consider these tips that may help you or your event organiser come up with a memorable event.

Plan carefully

Meticulous planning is the foundation of a successful event. First set your objectives and targets, then you can draw everything else from that. Base your strategies, publicity and promotional tactics, timeline and budget from your goals and resources available. Always review your plan and go back to it to adjust some details, if necessary.

Form a team

One person alone cannot stage an event. You need a team to oversee various aspects of the project. Open communication and harmony with your teammates will help you achieve the objectives you set for your event. A project leader is crucial to consolidate everything and supervise things so that each team member is not left behind.

Set the theme

An event is a vehicle to send your message across your audience. Having a theme is like tying everything in an integral axis. It’s easier for participants to remember your event and the purpose of the activity when you have a central idea that can bring each part of the event together.

Choose good suppliers

Some of the blockage in carrying out a good plan is a problematic supplier. It can be a thorn on the side if they are not able to produce the much-needed result. When you choose a third party partner, do not only consider their cost but also their success rate. Gather three to four possible suppliers, evaluate them carefully, do a background check and select the best supplier that is value for your money and have great working relations with you.

Create a checklist and monitor well

Proper coordination is key to a successful event. They say that the devil is in the details. Have a checklist of everything you need to do and have for every activity of the project. Monitor your checklist regularly so that you don’t miss out on important things. A team meeting will help you see gaps which you haven’t noticed before.

Come up with back-up plans

There may be unforeseen circumstances and factors that may hamper in the process of organising an event. Weather, costs, and other internal and external conditions can affect the preparation. Make back-up plans that you can do on varied cases.

Select the right people to invite

The guest list is important in attaining your objectives. It’s not enough that you gather warm bodies to fill in your venue. You have to bring in people who can help you with your brand. They can be your clients, industry partners, media people, social media influencers and target customers.

Have run-throughs

When everything is ready and in place, do some run-throughs to make sure that everything works out fine. You can polish certain things, such as seating arrangement, lighting, sounds, timing and food serving. Aim for perfection and bring the best experience to your participants and guests.

Evaluate and do a report

Like in any other experience, it is good to learn from an event, both the mistakes and the milestones. Evaluating the entire process and coming up with a report is a method that can help you improve on your event organising skills. It will also serve as a guide to your team for your succeeding campaigns.

On top of these tips, another way to learn about mounting a successful event is to attend as many events as you can and observe attentively. See how they execute events and note the areas that you can improve if you will have to do it yourself. More importantly, enjoy the experience and take this opportunity to interact with the guests.

Surfing the entrepreneurial waves

Surfing is not for the faint-hearted, and so is the entrepreneurial journey. It takes skills, practice, determination and passion to ride the waves of tribulations. One can brave the perils of surfing or entrepreneurship through persistence because perseverance is necessary to achieve the needed to accomplish.

However, one has to know the basics of surfing to get it right. From this kind of discipline, we can draw out the lessons and apply them to the entrepreneurial journey.

Before jumping on your surfboard and heading to the sea, there are a few things that should be noted down. It is imperative that you brush up on your swimming skills first. Equip yourself with the right gear and get a good instructor if you’re a beginner. Don’t go out there all by yourself. It’s the same when you wade through the entrepreneurial waters. You have to learn the ropes of running a business and arm yourself with the right tools and skills. Here are a few more reminders as you prepare yourself for the sea and the business world.

Warm-up and practice on land

Stretch those muscles. Practice your moves. Exercise first and prepare your body for the harsh conditions of the sea. In business, familiarise yourself with the various aspects of managing an enterprise. Do an internship, work in other companies or gather some skills and experience that you can later use in your venture.

Listen and follow instructions

Pay close attention to your instructor. Make sure you remember the safety precautions and surfing etiquette. Interact with other surfers and learn from the more experienced ones. Watch carefully how others surf so you can gain more tips and insights. When you start on your entrepreneurial journey, it is helpful to have a business mentor who can guide you. Be part of a business group like EO where you can meet like-minded individuals and learn from their experiences.

Choose a good spot, start small and finish big

Scan the area before you surf. Choose a spot for beginners that is not crowded where you can move freely. Start with waves that are not too huge for your limited skills. As a businessman, acquaint yourself with the industry, which includes your competitors, stakeholders, target market and various players in the area where you want to establish your enterprise. Operate first on a manageable quantity or magnitude, then work your way towards bigger things.

Paddle hard

When the waves are coming, paddle hard and go with the force. As much as in surfing, many businesses succeed because of the hard work that is put into the endeavour. Devote yourself to improving yourself and your venture. Invest resources, time and effort in bringing every milestone a notch higher until you get to achieve your goals.

Be quick to rise and stand

The key in surfing, whether you are waiting for the right moment or recovering from a fall, is the swiftness to rise and stand. Be quick to capture the coming wave or bounce back. Don’t be intimidated by a few failures, both in surfing and entrepreneurship. Watch out for great opportunities, and do not hesitate to take advantage of them to move your business forward and enable your brand to make a mark. Better yet, create opportunities that can accelerate your growth and bring your business closer to your target.

Bend your knees and keep your balance

Balance is crucial in riding the waves longer. Bend your knees so you can easily adjust your weight. Always keep a balance in your entrepreneurial journey for you to survive and sustain your accomplishments. Listen to your body, the people around you and the market you serve. Bending one’s knees also signifies readiness, humility and action. Be swift to respond to your customer’s feedback and serve their needs.

If you believe you already have the skills and the courage to go into the deep, do not hesitate and just take the plunge. It’s good to start sooner than later, whether in surfing the sea or building your business. You’ll never be fully prepared unless you find yourself in the spot where you need to put your learnings into good practice. When the wave comes and you are able to ride through the challenges, don’t forget to have fun and enjoy the fruits of your success. So, get ready! Surf’s up!

Finding the right mentor for business

The challenge-laden entrepreneurial journey is not for the faint of heart. One may get lost or burdened going through it, especially for the new ones. It becomes bearable when you take it with other entrepreneurs or when there is someone who can guide you along the journey. A mentor is someone who can do that and help you get to your destination faster.

It is important that you have a full grasp of the concept of mentorship to keep things straight from the beginning. Understand that a mentor is neither your boss nor instructor. You will be the one to make decisions in the end. Your mentor will only guide you towards the right path. Because you are too caught up in your venture, a mentor will help you look at your business at a different angle and see gaps and loopholes.

But finding the right mentor who can help you in your personal and professional development is easier said than done. It’s not just all about the achievements your supposed mentor should have but also the personality that can match yours as well. The main concern is where to find the one that can fit your values and entrepreneurial needs. Having a checklist of things that you prefer in a mentor will help you narrow down your search.  

Family and Friends

Start looking for a possible mentor among your inner circle of family and friends. Someone close to you might be able to support you in providing advice and processing your ideas and decisions. There are pros and cons in choosing a family member or friend. While it is easy if they already know your character and work ethics, it may also become a deterrent in the mentorship as this can cloud your judgment of each other. However, if you feel more comfortable with someone familiar, then you can take this route in having a mentor in your entrepreneurial journey.

Business Groups

A good venue to find a mentor is a business group or organisation like EO. Such groups are composed of people who are also in the same boat as you are, some may have already been ahead while others are still starting out. In addition, they have programs and learning activities that can provide you with an opportunity to have a mentoring session with someone who can support you in your business experience.

Networking events

Seminars, conferences and workshops are a a great opportunity to meet business leaders and experts who can give you tips and advice when it comes to running your business and braving business challenges that may come your way. You may even meet business people whom you look up to as a model or inspiration. Events like these can open doors for you to establish friendship with them that can lead to a mentor-mentee relationship.

Mentoring service

There are many online platforms nowadays that provide mentoring services to startup founders and entrepreneurs. They often provide resources and experts who can share pertinent points on various apects of the business. Some platforms can even match you with a mentor. Examples of these onine applications are SCORE, MentorCity, Find a Mentor and Mogul.

Social media

There are social media networks that can connect you to other entrepreneurs. You can find some online communities where you can find like-minded individuals exchanging business insights. LinkedIn is one particular example. However, it is best to connect with a mentor through social network if you have established rapport with the person.

Once you have your eyes set on a particular person as your mentor, get to know that individual first so that you have an idea of the best approach to do the ask. Learn well from your mentor. Who knows, you might also become a mentor to someone in need when the right time comes.