How to organise a successful launch event

Assuming that you have perfected your new product or service and you are ready to tell the world about it, how do you make sure that many will know of and avail of your new offering? You need to come up with a well-thought plan to hype your product, service or campaign to the public, especially to your existing and prospective customers and clientele.

However, doing a launch event is easier said than done. It takes a lot of thought, effort and resources to create and organise an event that will move people to trust your brand and patronise your products. The best way forward is to hire an event team to do the work. But if you’re short on the budget since you’re still a startup business and want to do things by yourself, here are tips on how you can launch your new campaign successfully.

1.       Envision how you want the launch to happen

Start with your goal in mind. Set your goals, objectives and targets, and what you want the event to achieve. Envision what you want to happen during the launch and how you want it to benefit your business. Make sure to set measurable and achievable goals that you can easily assess later if the event is a success or not.

2.       Plot the best strategies

Once you have identified your goals and objectives for the launch event, come up with the best strategies to attain these. Doing research ahead of time on what will click to your target market will be most helpful as you plot the right tactics. Know the latest trends and map out the best routes possible to get you to your desired targets. Assign a coordinator within your team and divide the tasks among each other for easier monitoring.

3.       Brainstorm for a concept

To make your launch event memorable and talked about, you must have a cohesive concept that also ties your brand image and your new campaign together. Some go for an all-white event or a carnival or one that is easily associated with the occasion or the company. Decide if you will have a product test, a special show, a sit-down dinner, a social media hype or a combination of everything.

4.       Set timeline and budget

When you have designed your launch event, it’s time to get down to the details – venue, stage, lighting, talents, food, etc. But first, draft your budget and timeline as this will be the skeleton of your plan, along with your objectives and strategies. Based on your budget, you can adjust your concept if you need to tone it down or take out certain parts.

5.       Get down to the tasks and details

Now, it’s time to contact your suppliers and service providers that can mount your launch event. On the sales front, you can do pre-orders and sign-ups. For the communications part, nail down the right messaging and have a press release and FAQs written down. Create teasers and materials that can support the launching of your new campaign or product. Conduct regular meetings with your team to check on the progress of each task needed to accomplish.

6.       Create invite list and send out invitations

With preparations on the roll, create a list of people you want to invite to your launch. Tap influencers, VIP customers, industry movers and the media that can echo your message and create a positive ripple effect on your brand.

7.       Run-through the event several times

The reason why companies and brands consider special events as a marketing tool is to provide people with an experiential taste of their offerings. It is crucial that the experience during the actual event is magnificent enough for people to talk about it in a good way. Conduct run-throughs and technical checks prior to the event to make sure that every detail is looked into and each gap is filled in.

8.       Be visible during the event

The event proper is your opportunity to network and have face-to-face interaction with your guests. Make sure to allocate time for media interviews. It is also more impactful if your visibility is not only limited offline but also extends online. Use an event hashtag and post updates of the launch.

9.       Sustain the buzz

Every phase of the launch event is important. From the planning to preparations to the event proper up to the post-event, each opportunity must not be missed. The launch does not end when the event wraps up. It continues for a few more days, weeks or months through various initiatives and endeavours that support the hype. Make sure that your customer service is in place. Deepen your relationship with your consumers and take this opportunity to create a community among them.

If you’re doing this for the first time, it is good to seek the help of those who have more experience than you. Take advantage of opportunities to attend events when you’re invited so you can observe how they go about it. You can do both in EO Melbourne where learning and fun events happen all-year-round.

Business insights from slogans and taglines

Catchy phrases for slogans and taglines help us remember more about a brand or a business. While a tagline refers to the entire company, a slogan is usually used for advertising purposes to promote a product or brand. Nevertheless, marketers have tapped on the power of words to make their brands become top-of-mind in their industries.

Throughout the years, there have been effective ad campaigns that bolstered slogans and taglines to be stamped on people’s consciousness for many years. They are so successful that many will instantly correlate such a phrase to a brand’s name even without a logo or design. Although these phrases imply the company’s promise to its customers, they can also be taken as nuggets of wisdom for entrepreneurs on how to run their business. Read through these 10 popular phrases and how you can apply them to your journey.

Let’s make things better

An electronics company launched this campaign in 1995 to refer to its commitment to innovation. Similarly, every business must be able to provide solutions to specific problems in society. As these problems evolve, companies also see a bigger playing field to improve the lives of people. If you look at your business, how do your products and services make things easier for others?

Impossible is nothing

This line may have made headlines for an active lifestyle apparel line when it launched this campaign alongside known global athletes. “Impossible is nothing” connotes that running after your dreams may be plausible, something that can be a mantra of every business owner. The entrepreneurial journey starts with a vision that may seem unattainable. But with determination, what others may deem as impossible is nothing compared to the passion, hard work and commitment of every entrepreneur to achieve their goals.

Just do it

Another active lifestyle apparel has been using this line for decades. Like its logo, the tagline has become embedded in the market’s mindset. The beauty of this phrase, which has stood the test of time, is because of its call to action. It’s simple. There’s no motherhood statement attached to it. Some entrepreneurs may be caught off-guard by grand ideas and halted by the fear of the unknown. In business, everything is a risk. However, those who prosper are those who are brave enough to take the leap and follow their dreams. As this brand reiterates, “Just do it.”

Think different

The tech company behind this slogan embodied these words and took their products and services to a different level. Entrepreneurs can learn from this company and from the words “Think different” because many businesses fall to the trap of bandwagon and following after trends. These words encourage entrepreneurs to think outside the box, to create disruptions from the norm, to revolutionise industries, and to be trailblazers themselves. Sometimes, what catches the eyes of customers is the very thing that sets you apart from the rest.

We try harder 

A car rental company that has been trailing behind the no. 1 in the industry used the tagline “We try harder” to turn things to their favour. Any business, regardless of position in the market, must always strive harder than others to bring the very best for their clientele. No one should settle for anything less than what consumers deserve to have.

When you care enough to send the very best

It may be an advertising slogan in the 1940s by a card and gift company, yet it sums up what every business should stand for. The best way to get to the hearts of people is to show to them that you care for their needs by providing premium quality offerings, whether through your products or services. It may also apply to your people as well, especially your frontliners, training and equipping them with skills needed to assist your clients.

Quality never goes out of style

When you are a clothing brand that produces quality products, what better way to flaunt it than to make it your ad slogan? But the words “quality” and “style” are not solely confined within the field of fashion. It’s true that businesses have to keep up with the current trends, but what’s more important is to deliver superior and excellent goods and services to stay in the industry for a longer time.

Have it Your Way

Many business owners take the entrepreneurial journey because they want the freedom to create and chart their path that the experience offers. For those at the crossroads of their career or journey, you can take a piece of advice from a burger company’s slogan, “Have it your way.” You set your direction and pace, and you alone can be responsible for it. As an entrepreneur, your business reflects your ideals, values and visions. Where you bring it and how you get to your destination speak volumes of who you are as a business owner.

Save money, live better

A retail store company had this as a slogan. But to “Save money, live better” is a phrase that can be directed not only to consumers but also to entrepreneurs. Running a business also entails keeping tabs of expenses and monitoring the cash flow. A wise business owner can manage the finances well, including saving money to provide better lives to its employees and stakeholders.

Challenge Everything

A video game publishing company adopted the slogan “Challenge everything”, which also applies in the business space. Entrepreneurs should not be afraid to challenge everything in the journey – their competitors, the industry, the norm as well as themselves. It makes entrepreneurs to constantly seek improvement and continuous learning.

Next time you spot a slogan or tagline, think what business insight it can give to you. Those words may bring you gems of ideas and wisdom that can guide you along your journey.

Things you can enjoy through MyEO

Starting and running a business is not only all about checking the books and finding the money. The entrepreneurial journey is also a journey of learning where entrepreneurs can expand their horizon about business, about themselves and about life, in general. For those who have taken their journey aboard the EO vehicle, there is an exciting part where members get to connect with their fellow EOers around the world through the MyEO program.

MyEO empowers members as they can host an experience or participate in one. The platform is an opportunity for members to connect and collaborate by uniting their unique passions and creating their own personalised experience. It allows entrepreneurs to explore various aspects of their lives and pursue their interests with like-minded individuals.

As the saying goes, “all work and no play makes Jack a dull boy.” MyEO is one of the programs that enable members to be cool, make a mark, thirst for learning, trust and respect, and boldly go! In other words, the program inculcates EO’s core values among the members and shapes them to be a 360

Members can choose the groups they want to belong to and enjoy the activities within that group. They can meet online or face-to-face, or gather and attend events and activities. There are groups for: women, members who are 35 years old and younger, families and spouses, those belonging in the same industries, and those sharing the same hobbies, causes and interests. MyEO groups are avenues for members to initiate and champion undertakings, exchange insights and ideas, travel, play sports, and do activities that can hone and shape the members’ holistic growth.

Personal development

Whether you want to improve the skills you already have or engage in a new pursuit, you can choose from and participate in a variety of MyEO endeavours. Champions initiate a MyEO group or event to interact with other members who share a common ground with them. Book lovers have formed an online reading group, some share ideas on how to meditate and practice mindfulness, while others come together to satisfy their thirst for learning.

Family care

Many entrepreneurs are also heads of families, and they have to take care of both their business and their households. MyEO weaves families – spouses, partners and children – into the EO fabric by including them in various activities and engaging them in the entrepreneurial journey of the members.

Advocacies

Global issues like caring for the environment, gender equality and ethnicity are also tackled in MyEO groups. Philanthropic activities and cause-oriented endeavours are also initiated and championed by members to pursue solutions to social problems.

Industry concerns

 but, industry-related MyEO groups are also championed by members themselves. Various groups are formed for those who have businesses that are focused on health, finance, construction, food and beverage, real estate, hospitality, education, legal and consultancy services, and retail, among many others.

Interests and hobbies

The beauty of MyEO is that members can indulge in their other passions, such as their hobbies, sports and varied interests. May it be about art, music, farming, adventure activities, golf or music, there are groups available to engage in the things you love, other than business and family. If you cannot find one that suits your hobby, you can always create one. Moreover, not only will it provide you with a venue to communicate your interests with people who share your passion, but you can also organise events and activities that can fulfil your zeal for things close to your heart.

Now, check the various MyEO groups and events and tick off the ones that catch your eye. You can also champion a MyEO initiative. To know more how to join in the MyEO activities or create one, read the resource found in the MyEO page.

10 Theatre Plays That Give a Glimpse of the Business World

Before the advent of modern technology, theatre plays were a venue to express the ills of society to shape the minds of the public. Over the years, it has become a form of art and a means of preserving the history, traditions and culture of a place. It has earned high artistic and entertainment value while maintaining its purpose of educating its audience.

Plays revolve around various themes, such as love, friendship, revenge, class struggles, and many more. The theatre arts also offer various stories that can add insights to entrepreneurs and business owners. Let us take a look at these 10 classical and modern plays that give us a glimpse of the business world. You can read their book versions or watch them in theatres to learn from the situations and characters presented in these dramas.

How to Succeed in Business Without Really Trying 

Frank Loesser’s How to Succeed in Business Without Really Trying is a 1961 musical based on Shepherd Mead’s book of the same title. The play revolves around J. Pierrepont Finch, who first worked in a company by starting in the mailroom. By reading How to Succeed in Business Without Really Trying and taking advice from it, he rose to become the chairman of the board.

There are always bumps and walls throughout the entrepreneurial journey, but one can always learn how to surpass them.

Death of a Salesman

The stage play Death of a Salesman is one of the internationally acclaimed dramas of the 20th century. The story is about Willy Loman, a salesman who found himself incapable of driving and travelling for the job. In between dreams, hallucinations and reality, Willy experienced one disappointment to another. The story ended with Willy committing suicide, thinking that the money from the insurance could help his son start a business.

Disappointments are ever-present in the business world. Things may not turn out the way we want it to be, but there is always a better option without following Willy’s footsteps.

The Merchant of Venice

The William Shakespeare 16th-century classic The Merchant of Venice touched on the themes of friendship, love and revenge. Antonio is a merchant in Venice whose friend, Bassiano, needed money to court the love of his life, Portia. With Antonio’s fleet at sea, he is short of funds but promises his friend that he will act as the guarantor. Unfortunately, Bassiano turns to the Jewish moneylender Shylock, who agrees to the loan without interest but with the condition that he can take a pound of Antonio’s flesh if they do not pay on time.

Entrepreneurship offers a huge risk. Loans have to be made to allow a business to take off. Misfortunes may happen and there will be people who will take advantage of the situation.

Glengarry Glen Ross

If you are looking for some exciting drama, then Glengarry Glen Ross may be the play you’ve been wanting to watch. David Mamet presents the cutthroat world of the real estate industry through a group of real estate agents who are desperate to sell lots in Glengarry Highlands and in Glen Ross Farms. These characters go to extreme lengths like stealing leads, intimidation and deception.

Some of the challenges in business are meeting targets, making profits and dealing with unsavoury individuals. The story allows you to pause and think of solutions without sacrificing your business and your values.

The Producers 

Mel Brooks made an adaptation of his 1967 film The Producers into a musical. The main characters, Max Bialystock and Leo Bloom, figured out that they could make more money with a flop than with a hit. So they went out to raise millions and come up with a low-budget production. As it turned out, it became a hit, which posed a big problem for them.

The play can bring so much laughter, but it also shows that honesty is an important trait in business because the opposite can lead to disaster, as much as loyalty is a valued quality among partners.

The Lehman Trilogy

Originally created as a radio drama, Stefano Massini created a three-act play about the Lehman Brothers. A young German, Henry Lehman, and his two brothers established a business in the US. But 163 years later, their firm collapsed into bankruptcy that sparked the financial crisis in 2008.

In the story, a family business has grown and passed on from one generation to another. Despite its long history, certain situations led to their downfall, leaving lessons for entrepreneurs to ponder on.

The Adding Machine

This 1923 play by Elmer Rice is about an accountant called Mr Zero who served in a large company for 25 years, only to be replaced by an adding machine. Through his anger, he killed his boss, which led to his execution. The scenes continued with Zero’s soul wandering in the afterlife, where he was found useless and was sent back to the world.

The Adding Machine shows the realities in certain industries where technology takes over the human aspect of a business.

Ink

One of the new plays is Ink, which premiered in 2017. Set in London in 1969, it is about Rupert Murdoch who purchased The Sun, a struggling newspaper. With the aim of making it a popular source of news and crush the competition, he hires Larry Lamb as an editor and they go to extreme lengths to reach their goal.

The story touched on ethics and money, factors that many entrepreneurs take into consideration when running a business.

Grand Hotel

The interesting feature of Grand Hotel, a musical from Luther Davis’ book of the same title, are the characters of those staying in the Grand Hotel. The hotel guests are composed of a Jewish bookkeeper, a prima ballerina, a doctor, a businessman, a Baron and a Hollywood hopeful, whose lives became intertwined through their chance encounters in the hotel, giving the audience a glimpse of their struggles and dreams.

Although the play in itself is not about business, it shows the colours of people that can also make one think about those they meet every day. But for those in the hospitality industry, they will find the story’s setting and scenes interesting and insightful.

Enron

Based on Enron’s financial collapse, British playwright Lucy Prebble wrote the play Enron, which premiered in 2009. The plot brings the audience through the rise and fall of this Texas-based company, exposing deceit, fraud and greed.

While the play is entertaining in itself, its depiction of Enron’s demise that ended in bankruptcy is a major lesson to many business owners.

If these plays piqued your interest, maybe it’s time to check out your local theatres on their line up of shows. It would be nice to sit through a play, enjoy the performance and bring home the lessons it leaves its audience. More importantly, see how you can apply these lessons to your entrepreneurial

Short courses for entrepreneurs

Perhaps people are confident to go after their passion to start a business because they have acquired enough experience to do so or their training and educational background provided them with the knowledge and skills to make it happen. Still, this does not mean that business owners already know everything. They need to constantly update themselves with the latest trends and upgrade their proficiencies to move their ventures forward.

One of EO’s core values is Thirst for Learning, which is something every entrepreneur must have to keep going in their journey towards their goals. EO itself has executive-education programs that provide members with added resources and learnings. Several schools, professional groups and online sites offer short courses that help advance an entrepreneur’s competences. Some of them can run for a few days or weeks.

The personal and professional development of business owners can also lead to the growth of their enterprise as they are able to execute strategic plans of action and accelerate the progress of their productivity. Entrepreneurs can still continue their education and gain more expertise in different areas that may impact their businesses. Topics may revolve around, but are not limited, to the specialties below.

Leadership and Management

Graphic artists may open a design agency, health gurus can start a fitness gym, and lawyers and accountants can establish a consultancy firm. Basically, anyone can create a company based on their passion and expertise. However, running a business takes more than just proficiency in their field of work. It requires strong leadership and management skills to steer the venture towards success.

An entrepreneur must be able to look at things short-term and long-term, large-scale and micro-perspective. They need to grasp the nitty-gritty parts of human resource and operations. Being able to adapt to change is a skill that can be developed over time. Business owners must be able to think creatively and act strategically in any given situation.  

There are many courses on entrepreneurship, leadership, business planning and management that are offered in academic institutions. They sharpen one’s mind to innovate, transform, manage risks, generate ideas and create breakthroughs in their business.

Finance

Not many business owners may be able to understand and know the financial aspect of an enterprise. Yet, it is important to be acquainted with cash flow as this is the lifeblood of a business. You may find short courses on entrepreneurial finance, principles of accounting, budget planning financial analysis, financial systems, taxation, asset management, auditing, and other investment and economics-related topics.

Marketing

Marketing is an aspect of business that entrepreneurs should be familiar with because it drives sales. However, marketing is a broad area to study. It encompasses branding, market research, advertising, public relations, events management and sales, including customer service. Business leaders can expand their understanding and know-how of promoting their brand, company, and products or services.

As the market evolves, business owners also have to stay attuned to the changes not only to conform to the demands of the times but also to introduce new ideas and cause disruption to the minds of customers.

Internet and digital space

A new trend in marketing that presents a new and wide-ranging arena is the digital space. Gone are the days when promoting and selling are done face-to-face or via traditional media. The advent of the internet and new media has created a whole different culture in pushing for one’s brand.

From blogging, web management, SEO, social media marketing, mobile applications, new software to online community management, the digital field is expanding by the minute and new information comes in by the second. Short courses on such topics can widen an entrepreneur’s comprehension of the digital age and how this can help grow their business.

Technology

New technological advancements happen across various industries, such as in food, hospitality, accounting, engineering, education and medicine, to name a few. Artificial intelligence is applied in communication, security, research, aeronautics and other fields of endeavour. Business owners can take special classes on technology courses that can be applied in their business.

Special Interests

To develop other aspects of your entrepreneurial self, you can also take short classes on public speaking, writing, languages and other special interests that can also add value to your organization.

The road of your entrepreneurial journey may be steep or filled with potholes. As long as you continue to improve yourself and pour the added knowledge you amass into your business, you can achieve the unimaginable. With more skills and competence, what you are able to attain in three years, you might be able to realise in a shorter time. Learning knows no age, so you can keep on acquiring expertise as you go along your journey.

Running a startup like flying a drone for the first time

Drone cameras are getting more popular that almost anyone can purchase one and fly it on their own. Because a drone is now a must-have gadget, especially among travellers and photography enthusiasts, people think that it is easy to fly them. It may seem so, but unknown to many, it is also easy to crash them. It can be compared with starting and owning a business. The majority only pays attention to the rewards but fails to realise the difficulty of keeping a venture afloat and letting it soar to success.

Like a drone camera, business leaders need to see the big picture through a bird’s eye view and, at the same time, zoom in and focus on the tiniest details of the enterprise. So, how do you make sure you fly your drone smoothly? How do you bring your business to greater heights? There are a few lessons from piloting a drone that can be applied to the entrepreneurial journey.

Study the manual

While most gadgets are easy to operate, there are certain precautions to take before trying your first drone flight. Moreover, there are different models of drone cameras and each type may have a certain way to activate it. Read thoroughly the instructions before you attempt to launch your quadcopter.

In the same way, running a business is not something that is learned overnight. While experience is the best way to master it, there are tools and materials that can help you understand the various aspects of entrepreneurship. You can take short courses, read business books or listen to podcasts. Each industry has its own business culture and climate, so do the necessary research to prepare you with the inevitable and help you grow your enterprise.

Seek help from an experienced one

To avoid crashing your drone on your first try, it is best to seek the help of someone who has more experience in flying it. You can get more insights when you observe the actual steps in handling a drone and hearing specific instructions along the way. If it’s your first time to operate it, it is helpful to have somebody to assist you who can be your spotter as you may get confused whether to focus on your camera screen or keep visibility of your drone.

Mentors play a significant role in one’s entrepreneurial growth. They may be able to see and point out things that you have missed so that you can avoid some mistakes or losses. Learn from the experience of those who have started way ahead of you. If you are a member of business groups like EO, you can participate in forums and learning events and absorb the lessons they bring to the table.

Secure permits and follow rules

Certain places require permits before you can fly a drone. There are also no-fly zones that should be followed. Private properties may prohibit drones to hover over their area. Be mindful of laws and rules in the locality before you use your quadcopter.

From founding your business to sustaining it, make sure that you comply with the laws in your locale and industry. Secure your business permits and file government reports on time. It is to your advantage if you are knowledgeable of the legal requirements and procedures in your area to avoid any glitches in the future.

Survey the terrain and check the weather

Don’t fly when it’s too windy or when it’s raining or snowing. Fly on open spaces as trees, buildings and elevated areas nearby may cause problems to your drone’s path. It is advisable to fly where you can maintain a vision of your drone.

Assess your competitors and conduct market research. Get into the minds of your consumers or clients. Familiarise yourself with industry standards and practices. You can approach difficult situations from a position of strength and confidence if you are conversant with the facts and realities revolving around your business, industry and economy. Rely on data and also listen to your gut-feel. Then you can strategically map out your next move to get you closer and faster to your goal.

Start low and slow

Some first-time flyers get too excited that they immediately fly their drones so high and lose control of it, which can only lead to disaster. Be patient and learn the basics first. Practise the take-offs and landings. Fly it low and slow in the beginning until you have full mastery in handling your device.

Have a few test-runs first before you go full-scale on your business. Similar to a drone, you invest resources and energy in starting and running an enterprise. However, the risks are bigger in business, and crashes or failures can greatly affect not only your life but also of those around you, such as your family, employees or investors. Make sure you fill in the gaps and have all bases covered.

Safety first

Your safety and those of people nearby are of primary importance when you operate a drone. That is why you should familiarise yourself of your device and surroundings and practise well until you can completely control it. Take safety precautions before you fly your drone. Never mind if you weren’t able to capture good photos or videos on your flight. There’s always a next time. The important thing is that you do not harm yourself or anyone.

Taking risks and making bold steps are part of the entrepreneurial journey. You may never move forward unless you do this. However, make sure that you take calculated risks and have a back-up plan in place. Put some safety measures in your business, whether it’s availing of insurance products, putting security features in your physical store or online portals or implementing strict human resource and operational procedures in your workplace.

Stay alert

There may be sudden changes in the weather, unforeseen events in your area or birds appearing out of nowhere. Stay alert and maintain your drone within your line of sight. Keep your presence of mind if anything happens.

Markets can often be volatile. Local occurrences and global circumstances may affect your business at a snap of a finger. Always update yourself with the latest happenings and be on the lookout for possible threats and opportunities. Implement plans and put out fires with swiftness and thoroughness. If you achieve some wins, do not rest on your laurels. When you experience certain failures, do not wallow in your misery and bounce back immediately.

Once you have gained the confidence to face any adversity and the skilfulness to go beyond your limits, you can take your business higher. As an owner, you are the pilot of your venture. The controls are in your hands. Lead your enterprise towards your goals and create an impact on other people’s lives through your business.

How to keep your office space neat and tidy

Work never stops in an office. Every day, there are new tasks to perform, new fires to put out, new targets to reach and new ideas to execute. Things-to-do keep piling up on your desk and in your inbox. Before you know it, you are already swamped with a lot of files that you miss out on some important matters that needed your attention.

There are people who thrive in a chaotic environment. But more often than not, a messy work area can adversely affect your performance in your job. A cluttered physical space can affect your mental health as it can increase stress and anxiety, bring confusion to your thoughts and block your creativity and workflow. A tidy desk can help you relax and breathe better. It’s about time to put some order in your office area and do things more efficiently. We’re giving you tips on how you can manage your papers, computer files and items on your desk and work station.

O - Organise

Before you begin implementing changes in your office space and computer, create a plan first on how you will arrange and categorise items. How will you put things together and where will you put them? Designate areas where to place confidential files, urgent matters, and personal stuff. You can do the same thing with your computer files.

R – Re-examine your belongings

Assess your effects on your table to see which ones should go away and which ones should remain. As you go through your items, you might realise that you missed out allocating things for certain categories. There may be personal items that are better kept at home. You might even come across documents that should be given to your colleagues or materials that belong to your library or common office shelf.

D - Declutter

Tidy up and leave as much space as you can for you to move around and work better. Personal effects must be kept at a minimum. No need to put a collection of items on your desk or office. Keep piles of papers off your table. Go as paperless as you can. There are many cloud storage sites where you can upload certain files to free up your computer space.

E - Eliminate non-essentials

Drafts and non-important paper files that are no longer needed should be taken out from your pile of documents. Books that you do not even read but you put there for decoration may have to go away. Contracts and other legal papers from years past may need to be archived or kept hidden. Others probably belong to the trash bin.

R - Retain only what’s important

What are the urgent matters? You may hang on to certain things but make sure they are important. Sort your belongings according to your priorities and their relevance to your job. Maintain some items that make you happy and inspire you to work.

With a neat and orderly office, you can easily locate important objects and note urgent matters. It also clears your mind and allows you to think freely. Moreover, a clean and tidy surrounding also promotes a healthier lifestyle. Make it also a daily, weekly and monthly habit to declutter in the office.

Cultivating happiness in the workplace

Finding team members, those with the precise skills set, work ethics and culture fit, that blend well together is a godsend to any entrepreneur. Great talent, good chemistry and shared vision among staff do not come often. Thus, business owners must be able to retain good people in the organisation. Key to that is by keeping them happy at all times so that they maintain a good disposition in their workplace and towards their jobs.

However, it may be a huge challenge to hurdle. Moods and levels of happiness of people are not something that business leaders can control, yet something that they can influence. It is inevitable for employees to lose interest, feel burn out or get discouraged at work. Bear in mind that individuals spend the majority of their waking hours at work or thinking about work. More often, they even pass long hours in their jobs than the time to be with their families or at home. The stress and pressure of their jobs may also drain them, which may cause good talents to leave your company.

One of the factors to the success of a venture is nurturing the people that drive the business forward. A jovial atmosphere at work plays a vital role in the overall well-being of an establishment. It is cultivating this positive feeling, not just in a single employee but in the entire company as well, that can give a business its needed boost to move forward. Happiness in the workplace can result in increased positivity, good relationships among staff members, diminished stress, sound mental and emotional health, and longevity of employees in the business, among many others. In the end, it will lead to the success of the business in reaching its goals.

The important thing for business owners is to foster gratification among its people through drivers that will help amplify the happiness index in your organisation. How does one do that? These are a few of the vital elements that can keep your team members happy.

Create a friendly environment and culture at work

Make your office warm and conducive for work. Organise the layout in such a way that employees can work efficiently and pleasurably. Provide areas where they can conduct meetings and brainstorm ideas, share meals together and exchange fun stories, and take healthy breaks and rest their mind and body.

Create opportunities for interaction among your personnel. Encourage open communication and transparency within your team. Most of all, exercise fairness in dealing with them. Take care of your employees as if they are your family members and look after their welfare. When your people feel they belong in a secure and welcoming environment, they will be more inspired to excel in their jobs.

Reward good performances and recognise exceptional results

There is a sense of gratification when people receive recognition or attention for the good thing they have done. Salary increases and bonuses convey an affirmation of an employee’s hard work, which rewards them emotionally, psychologically and financially. Other companies conduct awarding ceremonies at the end of the year to recognise the exemplary work of their people. Receiving positive feedback boosts the morale of good team members, motivating them to perform even better.

Plan for their growth and development

Staff members appreciate when their growth and development are included in the plans of the organisation. It makes them feel valued, and it gives them a sense of security and assurance. Let them attend seminars and workshops, send them to conferences and exposure trips, and have them mentored. Tap their potentials so that they become better and happier individuals.

Trust and empower them

Some people are happy when they are entrusted with something. They feel confident knowing that their superiors believe in them that they can carry out important tasks. Come up with activities where team members can step up and take a lead on certain matters. Getting involved in volunteer and outreach projects also makes employees feel good about themselves and the company where they belong. Allow them to use their creativity and give them the opportunity to take ownership of significant endeavours and initiatives.

Promote work-life balance

Most individuals work to provide for their families. Your staff have families, friends and interests that they want to spend their time outside of work. Promote work-life balance in the organisation where they do not become overworked, allowing them to enjoy some rest and recreation as well as quality time with their loved ones. Also, they may not share the same drive and passion as you have. Some of them may not appreciate getting calls beyond work hours. Respect their off-hours and encourage them to take vacations.

But then again, happiness is relative. Not everyone may be happy over the same thing. It is good to get to know your people and know what can make them inspired and motivated at work. You may not be able to cater to everyone’s wants and needs, but you’ll be able to cultivate a level of happiness in your workplace that will also give you a sense of fulfilment as an owner and business leader.

Endurance activities and Entrepreneurship

It is inevitable for entrepreneurs to feel exhaustion, fatigue, discouragement, frustration and despair in the course of the business journey. But in true entrepreneurial spirit, they bounce back and march again with more determination. Hence, a little bit of mental and emotional stretching is needed to build stamina, face challenges head-on and keep going towards the goal.

Several options are in store for entrepreneurs on how they can re-energize themselves and fire up the embers of their passion before it totally diminishes. One resolution that some business owners choose is getting into endurance sports and activities.

What are endurance activities?

There are various types of sports and exercises for the body. Some are geared towards developing one’s flexibility while others are to build balance. Some sports are for improving strength while others are to increase endurance.

Endurance or aerobic exercises and sports are done to keep your cardiovascular, respiratory and circulatory system in top shape. Such activities intensify breathing and heart rate of the body. Examples are biking, running, jogging, walking, swimming, dancing and sports that involve these exercises.

Benefits of endurance activities to entrepreneurs

More and more entrepreneurs find great benefit from doing endurance activities. A number of these advantages are listed as follows:

Motivation and energy. When it seems that the responsibilities are too overwhelming that it causes you to lose interest in your work, endurance sports can wake up your senses and get your adrenaline rushing. They can pump up energy into your system, especially when you do it in the morning, and motivate you to channel that energy to your business. Joining marathons and competitions can make you feel competitive and determined.

Mood booster and stress-reliever. The stress and demands of running a business can sometimes make you grumpy, irritated and angsty. What’s worse, you take these negative vibes at home and areas outside of work. Endurance exercises can help you release the tension in your body and make you think more clearly afterwards. It keeps your physical, emotional and mental well-being in good health.

Focus and staying on track. Those who get into endurance sports, especially in triathlons and races, have a goal in mind. Being focused on those goals can also extend to your work habits. Running or biking in open spaces allow you to clear your mind and zero in on the most important things to do.

Discipline and responsibility. The difference in endurance sports like biking, running or swimming is that you must rely solely on yourself from beginning to end of a competition or marathon, unlike in team sports where others can make or break the game. Training is important to prepare for a race. Having the right discipline and sense of responsibility can take you towards the finish line.

Similarities between endurance sports and entrepreneurship

Endurance sports do not only keep you healthy in body, mind and heart but they also teach you inspiring thoughts that you can apply in your entrepreneurial journey.

• Aiming for a goal. Like in a race or marathon, the entrepreneurial journey is more fulfilling when you have a goal in mind. You work towards that goal, which is not actually the end but the beginning of more races to come. If running and biking competitions have a route, owning a business is also a journey that will take you through twists and turns and ups and downs.

• Challenges at every stage. From training to racing to sustaining your good performance, the challenge and hardships are always present. The same goes in running a business. Difficulties are part of the equation from founding your enterprise to startup to growing it and bringing it beyond the five-year mark. The challenges may differ at every stage, but they are sure to come.

• Risks and anxiety of not meeting the target. Although you run for yourself and by yourself, competition is a given in a race or in the business space. There is always the danger of not reaching your goal or dropping out midway, despite the effort and investment you have put in this endeavour. You’ll experience frustrations and self-doubt at times, both in endurance sports and in entrepreneurship.

• Skill and work discipline go hand-in-hand. You train to discipline your body and acquire skills that will be helpful to your sport. In business, constant learning is important to expand your knowledge as an entrepreneur and, at the same time, grow your business. Having the right skills set and work ethics in running a venture is key to its success.

• Success does not come overnight. What we see is an athlete that bagged a medal after a few hours of running. We also pay attention to business owners when they hit the headlines. But before they got to that point, there are many sacrifices that were made. They devote their time, energy and resources to the sport or their business before they become successful. Before they even reap the fruits of their labours, the adversities they experience during the planting part are sometimes not visible to us.

In the end, such sports or activities develop an important thing among entrepreneurs – endurance. The strength and determination to persevere and endure increases over time that as you gain more experience, the hardships become bearable. They no longer serve as hurdles but as an opportunity to stretch one’s willpower to keep pressing on until the ultimate goal is achieved.

The impact of user reviews on businesses

Consumers nowadays have the power to sway market opinion. Through review sites and social media networks, customers can make public their experiences with businesses they utilised. User reviews influence buying decisions because the market now looks into the assessment of those who have already availed of particular products or services before committing to a transaction. Thus, client ratings and testimonials provide customers with both a resource and a voice that can affect one’s company or brand.

The rise of online shopping and e-commerce sites, social media pages, rating forums, booking sites and blogs have allowed patrons to consolidate their opinions and evaluation of a service or product in platforms that can be viewed by the public. With more and more sectors bringing their businesses in the cyberspace, customer reviews are no longer confined in the food and hospitality industry. It also extends in fashion and beauty, internet, retail and other service providers. Popular online personalities exude certain authority when it comes to setting trends and directing the flow of public opinion.

Given the shift in the mindset of buyers, how can user reviews impact your business and how can you use it to your advantage? Rankings and recommendations can become a marketing tool to promote your venture and, at the same time, strengthen the customer service and client relations aspect of your business.

The effects of customer reviews on a brand

It can boost or lower sales. One apparent and immediate effect of customer reviews is reflected in the sales performance of the product or service in question. Several negative comments may lower the sales of your business while, on the other hand, good reviews can boost profits as they drive more sales. When users are contented with the service, there’s a tendency for them to buy more or avail of additional services. The trend may vary from day to day, so make sure that you consistently have positive feedback from your customers.

It can build or damage your brand image. For a company, big or small, image is everything. If bad reviews keep pouring in, people will believe that you offer poor products of services, which may be difficult to reverse. It can cause a huge dent on your image because your existing and prospective clients may lose their trust in you. However, if you get good ratings steadily, the general public will regard you as a dependable company. It will build your stature in the industry that even a single minor unfavourable remark may not cause too much ruckus to your enterprise.

It can attract or drive out customers. Another impact of customer reviews is that they can either draw new customers to you or deter them from patronising you, let alone consider you as among their choices. Existing clients that are satisfied can become your regulars and brand ambassadors. They become your mouthpiece to others, so an endorsement or criticism can create a ripple effect on your future clientele.

The things you should do to bring it to your advantage

Knowing that customer reviews may have a lasting consequence in your business, here are some of the various actions you can take to make sure you turn every review to your advantage.

Always improve your product or services. Consider every feedback as a way to develop your products and services and enhance your business. If you always aim at providing the best quality and highest standards you will have satisfied customers. A user review can only become compelling if it rings true. Treat each customer like a VIP, making sure you provide them with good value for their money and that you attend to their needs.

Monitor online to gather feedback and reviews. Constantly check your corporate website, social media accounts, blogs and booking or e-commerce sites where you have signed up, blogs. Set alerts in your search engines to notify you when there is a new post or article about your business. It helps when you pay attention to comments and let your customers know that you heard them.

Respond to negative feedback right away. Don’t be afraid of receiving a negative review. Some fear it so much that they delete it from their sites. But the public will know and it will only cause more irritation from complainants. Avoid being defensive in your answers. It’s even worse if you go on the offensive. The best approach is to respond to the adverse feedback right away. Clear any misunderstanding if there is one. An apology may often be needed. It is also a way for you to show others that you are doing something to address the concern and that you are continually improving your products or services. When the public sees that you care for each client, they are more likely to trust you rather than just putting out only the positive marks you got. 

Encourage satisfied customers to leave feedback. Irate customers are more likely to leave a review than those who do not have complaints because the former is charged with so much energy driven by anger that they will go out of their way to share their experience. Make sure you encourage satisfied clients to write their positive reviews. Some review sites may dissuade businesses to provide an incentive for favourable comments, so the best you can do is to remind them to write about their fulfilling experience for the benefit of other customers.

In the end, it all boils down to having good relations. It encompasses relationships with your staff, your sales team frontliners, suppliers, and clientele. Establish and maintain open communications with them and build on that. If you have enough resources available, be sure to have a dedicated person or department that will take care of customer relations. It pays when you tune your ears close to what your consumers have to say. In the end, it is up to you to take action or not. However, customer reviews can also aid you in coming up with informed decisions based on what is best for your company and the customers.

12 digital payment tools for businesses

The dawn of digital technology has empowered more and more individuals to turn to the cyberspace to find solutions to their various needs. Such solutions are mostly accessed in a single gadget and transactions are done at a click of a button. Many online infrastructures are put in place to make life easier to both merchants and customers and allow the movement of funds to be swift but secure. With e-commerce now on the rise, it is important to take a closer look at online payment tools that can make the exchange of finances, goods and services faster and easier.

Whether you conduct B2B (business-to-business) or B2C (business-to-consumer) transactions, having an online payment platform can help drive sales to your enterprise and allow your clientele to pay at a more convenient and secure way. Movement of funds is also applicable not only to retail and wholesale businesses but also to organisations and individuals that conduct fundraising, crowdfunding, freelance work, subscriptions and other internet services.

Entrepreneurs can look into these platforms to see how they can take advantage of these technological advancements to drive sales and manage finances effectively. There are thousands of digital financial tools and software you can choose that can be beneficial to your business. Compiled here is a list of known payment processing programs that are chosen by merchants around the world. (Click on the headings to direct you to their sites.)

2checkout

They boast of having a global coverage but with a local feel. It has adaptable modular designs that make it easy for businesses to use, simplifying the e-commerce process. The company started in 2006 and now has over 17,000 active clients worldwide. Its platform has an all-in-one monetization capacity that provides ventures to easily grow globally. It supports businesses not only in selling goods but also in managing subscriptions and recurring billings.

Authorize.net

Identifying itself as a Visa Solution, Authorize.net simplifies transactions by accepting payments through various platforms and methods, whether it is in-store, online or mobile devices. It has been providing payment solutions to small businesses and merchants since 1996. Thus, it comes as no surprise that Authorize.net is serving over 430,000 merchants to date.

Dwolla

Transferring funds can be done in three easy steps through Dwolla. All the businesses have to do are to create users, attach bank accounts and move money. Payments may be automated, especially that Dwolla has a white-label API that makes it more convenient for developers to integrate into their application. Founded in 2008, Dwolla has been facilitating movements of millions of funds daily at little transaction costs.

PayPal

PayPal is one of the most popular digital payment platforms worldwide as it now has 277 million active account users. Its secure and convenient method allows businesses and individuals to send and receive payments across various countries online, by an app, mobile device or in person. PayPal enables the movement of funds by linking credit cards, debit cards and bank accounts. Users can send payments directly with only the recipient’s email address.

Square

Taking digital payment methods further, Square offers both software and hardware systems that enable businesses to receive funds through online platforms or swiping cards through the Square hardware solutions. This allows merchants to conduct transactions anywhere with tools like a magstripe reader attached to a smartphone or tablet.

Stripe

Stripe prides itself for its unparalleled APIs designed for utmost functionality that can serve various kinds of internet business needs, whether for e-commerce, crowdfunding or subscription management. Launched in 2011, Stripe now has millions of users worldwide using its design-friendly platform and process.

Braintree

Also a PayPal service, Braintree reach more customers that integrates payments through PayPal, Venmo, digital wallets like Google Pay and Apple Pay, bank accounts, credit cards and debit cards. With this integration, Braintree is able to drive higher conversion for businesses and merchants. Braintree began in 2007 and now has merchants in over 45 countries.

Due

At this day and age when transactions occur across continents, countries and time zones, Due provides solutions to businesses, merchants, freelancers and online payers through its various products. It has time tracking, invoicing, digital wallet, ecash and global payments. Due is a young company as it started in 2015 serving small businesses and freelancers for online invoicing until it expanded its services to include various payment options.

WePay

A Chase company, WePay can link and refer merchants to Chase and provide integrated payment solutions for any business model. It has flexible APIs that produce efficient and exceptional user experience. What started as a peer-to-peer payment platform in 2008 has now grown to integrate various payment options to move funds fast, secure and convenient.

Apple Pay

If you have Apple devices, it is easier to use Apple Pay. It is secure as you can pay in stores using Face ID or Touch ID. Apple Pay revolutionizes the transfer of funds as sending and receiving of money can be done in Messages or with the help of Siri. This digital wallet can be used as a debit card or credit card that facilitates purchases and payments easily and securely.

Google Pay

What used to be Google Wallet and Android Pay has merged into a single integrated online payment solutions provider in Google Pay. Its features allow users to purchase goods, reserve tickets, book rides and other app payments through websites and apps that accept Google Pay. It also serves as a digital wallet that combines convenience and security when transferring or receiving funds.

Payoneer

Payoneer’s capability to facilitate transactions globally through various currencies at a fast, efficient and safe manner has made it as one of the preferred platforms of businesses, online sellers and freelancers. Since its founding in 2005, Payoneer has come a long way as it now serves more than 4 million users around the world.

As you and your business move forward, take a look at the current trends and technological solutions that can aid you in reaching your targets, driving sales and managing your cash flow. If having an online payment platform is a pressing need of your venture, look through the various features of trusted service providers and choose the one that fits your requirements. It may be something you do not need for now but it could be a huge driver for your business in the future.

Getting into the mind of shoppers

When you own a retail business, you need to constantly feel the pulse of the market. Trends come and go, and people’s tastes and choices shift from time to time. How do you drive sales and profit in an industry where things are fickle and everchanging?

While consumer preferences and priorities vary every now and then, there are certain factors that can draw buyers and sway them in their decision-making process. 

Cost and budget

One of the major consideration of shoppers is the cost of items if they are within the budget and provide value-for-money. Products on discount sale or with promotional gimmicks are more likely to sell out faster than regular ones. Some consumers do not mind paying a little bit of extra if they see that the product is of better quality than others. Evaluate your cost and compare them with the industry price if it is something that will drive shoppers to choose your product. Moreover, ensure that you produce quality goods and attach the price corresponding to its value.

Appeal to senses

Packaging that is visually pleasing to the eyes, with the use of attractive colours and design, can attract shoppers at first glance. What the brain retains are the visuals, then the words read, the sound or music and the smell. How the products are presented, especially when they are neat, orderly and packed right, may encourage consumers to purchase them. Some brands put a lot of thought and resources on the design of their products, packaging and visual elements to attract potential buyers.

Novelty

People are always on the lookout for something new. Even if you have bestseller goods, always think of ways to reinvent them and introduce fresh items. Make consumers be curious about you to the point that they will line up just to have a taste of your new offerings or services. With the same products, you can come up with events or new marketing schemes that can bring more customers to your business.

Public perception

Shelves that seem to be getting empty, long queues, and customer reviews. These are a few things that may sway consumers even at the last minute. Others would choose a brand with ethical consideration. Some would weigh the opinion of other shoppers when they decide the business they will patronise. Public relations, media and social networks often play a role in shaping public perception.

Ambience

The interiors of the shop, the spacing of shelves and furniture, and the arrangement of the products also affect how consumers view a brand. Allow your customers the space to breathe and put consideration on their comfort as well. Have a friendly staff that is ready to serve and assist them. Make your building, office, store, stall or shop welcoming to your clients.

Shopping experience

Regardless of how you are able to attract your customer at first instance if you are not able to meet or exceed their expectations, they’re more likely not to return and do another purchase. Capture your shoppers with the quality of your products, good customer service and exceptional overall shopping experience. Establish rapport with them and leave a strong positive impression that will stay with them for long. If fully satisfied, they will even share their good experience with others and act as your brand ambassadors.

The key is to have constant and open communication with your customers. Friendly and informal chats with them can give you a glimpse of the psychology of shoppers. A good relationship with your clientele is a strong foundation that can keep your business longer and push it faster toward your goals.

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.

The importance of family support in the entrepreneurial journey

A significant element to survive the challenge-filled entrepreneurial journey is a strong support system not only at work but also at home. Entrepreneurs often wear several hats and carry out various responsibilities – business owners, leaders, mentors and parents, to name a few. They sometimes end up tired and weary physically, mentally and emotionally. Thus, having a family that fully understands and supports the journey that entrepreneurs take is a factor in one’s longevity in the business world.

The flip side is when they do not fathom the extent of the weight you are carrying on your shoulders, they may end up resentful to you and your business. You may get too busy that you end up not having enough time for them, which may lead to them becoming unsupportive to your business venture.

One way to earn their cooperation and backing to your business endeavour is to bring them with you along your journey. Allow them to grow with you and share with them your pains and successes. When you do this, they can empathise with you and extend a helping hand. So, how do family members lend support to entrepreneurs?

Emotional assistance

The biggest support family members can give to entrepreneurs is emotional assistance. Lending a listening ear, showing encouragement, providing understanding and care, and having patience when times are hard can ease the pressure on business owners. Uplifting and comforting words can sometimes do wonders to a weary spirit. A simple pat on the shoulder has a reassuring effect on a tired body. When family members bestow positive reinforcement, the most difficult challenges become surmountable.

Financial help

Most entrepreneurs start their business living off on their savings. Resources can be scarce, especially when there is no one to invest in a novel venture. There are business owners who were able to establish their enterprise with the help of family members that provide financial aid. Some of them can be in the form of personal loans, which may not burden you as compared to those you avail from financial institutions. Other family members may willingly give money, although in small amounts.

Professional advice

Family members who have experience in running a business can be your guide or mentor. They can offer specific tips or ideas that can give you direction towards achieving your goals. There may be shortcomings in working with a family member. But getting professional help from them when you cannot afford one is a huge benefit when you are still starting out.

Volunteer time

The initial days or years of your business may mean you have to work alone. At this stage, your budget is limited and paying for someone can be an added burden to your pocket. That’s when you can turn to relatives or family members who have the capabilities and the time to ease your load. They may do menial things, but can greatly relieve you from the numerous tasks you have to fulfil.

Business referrals

If you are new in the industry, you need someone to open doors for your business. To expand your network, the first you can look into is your family. Some of them may know people who can become your client or customer. Business referrals are a huge advantage to penetrate your target market.

Business gifts

Little things that you can use in your office, operations or business processes can still enable you to save an amount within your budget. Family members love to give gifts. If it is something useful to your venture, it can somewhat lessen your expenses. Some of the gifts may improve your office or organisation or reduce extra tasks and speed up things.

Even if family members are not directly involved in the business, it helps to expose them to the realities of entrepreneurship and take them with you on the journey. Consider it as a great benefit to have them behind you to support you every step of the way.

Thus, allow them to participate in your other business activities, especially when it comes to your personal and professional development. Extend to them opportunities such as attending learning events that will benefit you and your family. For example, EO Melbourne has a Spousal Forum and a NextGen Forum that enable partners and teenage or young adult children to take part in your experience as an entrepreneur. The more they grasp the nuances of your responsibilities as a business owner, the more they can assist you in your entrepreneurial journey.

Kinds of entrepreneurs from tea varieties

Tea drinking has been part of both Western and Eastern cultures for many centuries now. Drinking tea has become a form of social interaction in certain societies, while it is considered a formal ceremony in other countries. With all the traditional and modern tea beverages in the world, it’s time to take a closer look at the tea varieties and how they can correspond to a certain type of entrepreneur.

There are true teas, and there are also herbal infusions and herbal teas or tisanes, which are usually mixed with dried fruits, herbs or flowers. For now, we will focus on the true teas which come from the tea plant Camellia sinensis. Each true tea is processed differently, producing various flavours and aromas. Which type of tea do you prefer, and which kind of entrepreneur do you think you can relate the most?

Black tea

It is the strongest and richest in flavour because it went through the whole process of oxidation. Due to this, it can retain its flavour for so many years. The leaves are withered and rolled and oxidized until they turn black. The black tea is the most popular kind. It has the highest caffeine content compared with other types of tea.

In a business sense, one can say that the entrepreneur who has gone through so many challenges and experiences is a black tea. Hardships and difficulties have strengthened them over time. Now, they can face any trial with determination, and many look up to them as a mentor or a source of inspiration.

Oolong tea

What is known as the “black dragon” tea, the Oolong tea has been withered under the strong sun. Its leaves are rolled, curled and twisted and went through partial oxidation, somewhere between black tea and green tea. It has a variety of flavours, from fresh flowers or fruity savour to a smoky, woody or nutty taste.

Oolong can correspond to business owners that have years of experience and with the versatility and flexibility to adapt to any given situation. They may be not as seasoned as the black tea, but they have their unique strength that can draw clients and other entrepreneurs to their charm.

Pu’er tea

Some have found this dark tea mysterious, but its process is straightforward, although complicated. It goes through the oxidation process and then fermented and dried. Then it is pressed into different shapes and sizes. You can taste its earthy essence but without any bitterness.

Entrepreneurs can be like Pu’er tea when they come with strong characteristics. They may be easily provoked and can be a bit complex, but if you get to their good side, you will find that they can be pleasant and genial. They work well under pressure and show improvement as time goes by, carrying with them lessons from their entrepreneurial experiences.

Green tea

Green tea has a grassy to sweet flavour with less caffeine. It is slightly withered after harvested, and oxidation is cut short through pan-firing and steaming. Green tea is popular in many Asian countries because of its antioxidant content. One particular widespread type of green tea is the matcha, which is a powdered non-oxidized tea.

Business people that exhibit the qualities of a green tea are those that have the ability to learn and apply so many things in a short time. They are easy to work with and may have many great ideas. Engaging with them is like dealing with a verdant field of creativity.

Yellow tea

The process with yellow tea is the same as with green tea, except that the leaves have a slower drying period. Another step is added, which is encasing or steaming the tea. With that, it has a mellow taste without the grassiness of the green tea.

There may be entrepreneurs that take their time learning the ropes of their business and industry as they start out in their journey. They take extra care to ensure that every step is well calculated and every penny spent produces good results.

White tea

White tea is the closest to the natural state of the tea plant. It has a light and subtle taste with natural sweetness. White tea comes from the youngest shoots that are the delicate buds of the plant. No oxidation process is done, and it is the least processed of all the true teas. It contains the highest content of antioxidants.

It can be likened to startup entrepreneurs that are still full of excitement and awe. They may still carry with them their ideals as they are not yet jaded by the harsh realities of the business world. On a positive note, it is good to engage with them because they are full of passion and energy to try various things, which is why they usually make inroads as they are not afraid to take the risk.

Next time you share a cup of tea with a team member, colleague, friend or family, think of how you are as an entrepreneur and the potential you can create for your business. A sip of a refreshing tea might spark an idea within you that may open doors to something huge.

Leadership skills you get from dog ownership

If you have a pet dog at home, raising it can also hone your leadership abilities. While dogs are cute and cuddly, owning one or more is not a walk in a park. That is why caring for them builds your character as well. Why not apply these skills to your business, particularly in leading your team.

Managing people and directing them towards your goals can be a tough act. Even when you have systems in place, the distinctive characters of individuals compels you to employ varied strategies and courses of action for every situation. Leadership is not just about holding a position. The very essence of it is the relationship one holds with those he oversees.

On a similar note, the bond that the pet owner and dogs share is crucial in shaping the kind of domesticated animal the latter can become. Thus, pay attention to insights that dog ownership can carry over to running a business and leading a team. Both are about taking responsibilities and ensuring that those cared for are well-provided and trained.

Authority

Canines are loyal and dependable, but they are also aggressive and ferocious. They respond to commands only when you have established your authority over them. It is important to stress this from the beginning. Not that you have to be stern at all times, but you also have to conduct yourself worthy of the respect that goes with that authority. As they say, dogs can smell your fear. The same way with humans, who can sense when you hesitate or when you are sincere in your words and actions. It is essential that you exude confidence, firmness and certainty to assure your people that you understand your obligations and that they can rely on you for direction, instruction, advice and guidance.

Care and protection

When you are the pet owner, dogs know that you are in command, but they also recognise that you are their friend. You care for them by providing them protection from harsh elements, food for their nourishment, and other essentials that can make them grow healthy and strong. Leading a team, no matter how big or small, means you are looking after their welfare. They’ll work as hard as they can if they know that you care for their needs and show concern to their well-being. A leader takes the frontline, not cower behind his staff, which includes taking accountability for his people’s actions.

Skills advancement

As an individual and leader, you have to grow constantly. Such growth extends to your team. Dog owners train their pets various tricks not only to show it off to others but also to teach these animals skills and capabilities to survive in certain situations. You can bring your business only to as far as where the capacity of your people can support you. Set up a plan to develop your staff as individuals and as a team. Introduce them to new information and know-how, while you also seek avenues to improve yourself. EO Melbourne has been providing entrepreneurs with various learning events and activities, which they can take to their business and pass on their knowledge to their team.

Reward and punishment

Part of training your dog and strengthen your bond is to give positive reinforcement. You give a treat when they obey your command or do something well. Conversely, discipline is needed when they go out of line. Rewards and punishment are ways of acknowledging good results and setting order and boundaries in your organisation. Recognition and correction are necessary to improve the performance of your people. It is also to exercise fairness, especially to those who follow the rules and exceed expectations.

Play and work

Dogs love to have fun. Play deepens the friendship between master and pet. Enhance the work conditions in your business where your people find joy in doing their tasks, spending time in the company of their colleagues and imbibing the culture of your establishment. Set aside time for them to relax, unwind and celebrate. But don’t overdo it. Too much of anything, whether play or work, may be harmful to the overall setting of your enterprise. Remember that you have goals to reach and obligations to fulfil.

Having a team with different personalities may be a challenge for any leader. It takes wisdom to balance the peculiarities of each member and unite them towards the direction you want to take them. You have to be strong enough to weather any conflict or hardship, yet inspiring enough to inject positivity in any circumstance. The outcome of good leadership is the loyalty of the people and their faithfulness to support you in achieving your vision.

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.