10 Hobbies for entrepreneurs

The stress and pressures of work can often get into you, sometimes ruining your mood or affecting your physical, emotional and mental state of well-being. Indulging yourself in hobbies can relax your mind and bring joy to your heart. But when you are too preoccupied in your business with no time for other things, you may be at a loss on the type of hobby you can start.

Choose a hobby where your interest lies the most and something you want to do in your spare time. The keyword is “want” because it must be an activity that you enjoy doing. There are plenty of things you can do that can bring positive energy to your psychology and physiology. Take a look at the 10 activities below that can give you fun and excitement, as well as enhance your motor skills, creativity, personal dealings with others, decision-making abilities and leadership flair.

1.       Sports

Whether it’s endurance sports, water sports, ball games, board games or mind sports, getting into any kind of sport can challenge your body and your mind. A bit of competition can push you towards your goal, and group games can develop your teamwork. It will also keep you healthy, develop your discipline and help you focus. Moreover, it’s an activity that you can do with your friends and family members.

2.       Music and arts

Art and music have a therapeutic effect on one’s soul. Engaging in such endeavours can sharpen your thinking, enabling you to look at things from a different perspective. If you don’t want something that will drain you physically, then you can consider learning a song, playing an instrument or taking up sketching or painting as a hobby.

3.       Yoga

Yoga is an exercise of the body, mind and soul that has a soothing impact on one’s overall health. It allows you to stretch your physical, mental and emotional muscles, giving you a clearer frame of mind that you need before you embark on the various challenges in your business.

4.       Collecting items

Whether they are toy cars, souvenir items, luxurious accessories, collecting things you like can often bring a sense of happiness to yourself. Adding new things to your collection can give you a sense of accomplishment, especially if these are quite rare and hard to find collectibles. They are something you can revisit in the future and pass on to your kids or grandchildren.

5.       Traveling and photography

If you are more for an experiential type of hobby, then you can consider travelling as an interesting way to indulge outside of work. Whether it’s a short drive outside the city or a flight to another country, the change of scenery and environment can help relieve you of the stress of running a venture. Also, you can always mix pleasure with business and make your travels educational and informative. Collect those memories and experiences through photography.

6.       Gardening and crafts

There are those who prefer to use their hands in doing something they find enjoyment. You might want to tinker with things at home, do carpentry work or feel the earth through gardening. It may take a longer time to see the results but knowing it will yield to something will keep you motivated to keep going.

7.       Cooking

This is a hobby that the entire family and your friends will enjoy, whether doing it with you or feasting on the food you cook. The kitchen is a great place to let off some heat and prepare a delectable dish out of your hard work. It’s a practical hobby, too, as you can always use this for all occasions.

8.       Reading

Quiet down your body and activate your mind by reading books that can motivate, inspire and educate you. There are many things you can pick out of reading, which can widen your horizon and expand your knowledge.

9.       Playing games

Whether they are card games, puzzles, board games, arcades or video games, as long as you don’t get addicted to it, you can take pleasure in doing something fun and challenging at the same time. Some of them can develop your cognitive or logic skills, so choose the games that will not only entertain you but also add value to your entrepreneurial journey.

10.   Fishing

Now, here’s a hobby that will require you a lot of patience. There are too many factors that may affect the success of your catch, which is why it is always a call for celebration when you get some. It’s also a great way to enjoy the outdoors and commune with nature.

Hobbies choose no age, so you can always start a new one anytime. Feel the joy of doing something that interests you the most. Also, learn from these activities and use them as tools to your personal development as an entrepreneur.

Vitamins for you and your business

Sleepless nights, missed meals, fatigue and stress can cause illness and weaken your body. With so many people and an entire business relying on you as an entrepreneur, you need to take care of your health. To keep diseases away, taking vitamins regularly can boost your body. As the saying goes, “prevention is better than cure.”

These vitamins can be sourced through food in your diet or supplements that carry these essential compounds. But apart from its health benefits, vitamins can also bring you some business insights that can contribute to the longevity of your venture.

Vitamin A for good vision

Sourced from milk, dairy products, fish and eggs, Vitamin A is needed for good eyesight, healthy skin and strong immune system. Lack of Vitamin A may lead to night blindness. If you apply this in the business perspective, you need something that can help you stay focused on your vision. It can be a poster on your wall reminding you of your end goal for your venture or a regular activity with your team to help you see clearly what you want to achieve in the short, medium and long term.

Vitamin B for energy

There are six other types of Vitamin B, namely B1, B2, B3, B5, B6, B12. These vitamins help boost metabolism and energy. Grains, cereals, meat, green leafy vegetables and eggs are among the sources of Vitamin B. What pumps energy to your business? Is it positive cash flow? Good corporate culture? Awards and recognition? Find what brings positivity in your workplace and overall outlook of your enterprise.

Vitamin C for immunity and healing

Ascorbic acid, which is found in citrus fruits and some vegetables, helps in strengthening the immune system of the body and healing of wounds. Mistakes are inevitable throughout the entrepreneurial journey. But you have to come up with alternatives and safety nets to help you recover from failures and avoid bigger ones in the future.

Vitamin D for strong bones

Vitamin D is needed to help absorb calcium from milk, eggs and fish to keep bones and teeth strong. It can also be sourced from sunlight. Our skeletal system is the core and foundation of our body. You have to keep the core of your organisation always healthy through effective human relations program. Retain good people that bring your business forward.

Vitamin E for defence

These are anti-oxidants found in oils, nuts, eggs, seeds and cereals. Vitamin E is a kind of anti-oxidant that builds your muscles and red blood cells, helping your body defend itself from diseases. As you grow your business, you have to make sure that you cover all bases and fill in all the gaps to keep your venture from threats and other unforeseen circumstances. Quality control, proactive plans, and other security measures help protect your business from unfavourable situations.

Vitamin K for blood coagulation

Broccoli, spinach and other green vegetables are rich in Vitamin K that supports blood coagulation. Without it, your body may suffer internal bleeding. Your assets and resources, including your people, are like the bloodline of your enterprise. To keep them intact, you have to continually build your internal and external relations and have regular monitoring and evaluation to ensure its improvement and development.

As the calendar year ends, take a good look of your business and find any deficiency that needs to be addressed. Build up your strengths, address your weaknesses, and plan on how you can take advantage of opportunities and protect your venture from threats. Know what kind of vitamins your organisation needs to aid its growth and progress.

Accounting tips for your business

Keeping up with your finances is always a major hurdle when it comes to managing your venture. Accounting is a key element that you must carefully pay attention to when running a business. Being conscious of your cash flow is important given that so much investment goes to setting up and maintaining your business, whether it is self-funded or financed by investors. Moreover, it is the lifeblood of your enterprise, which is why you need to go over your books even if you are not good with numbers or merely not fond of them.

For startups and those scaling up, here are a few tips you can note to help you manage your accounts.

1.       Have a proficient accounting software and system in place

An accounting system allows you to track, keep and organise your records. You can also automate your methods and incorporate this to your system. Fine-tune your methods and procedures to put in place a proper order of how things should be done and ensure nothing falls through the cracks.

You can choose from any of the accounting software available for businesses. Take a look at the one that is most suitable for your operations and install it in your devices. Have yourself and your team trained on the proper way of using the software to make it more efficient and fast in implementing the system in your day-to-day activities.

2.       Familiarise yourself with the basics of accounting

When starting out, business owners usually do everything by themselves. However, whether you have to personally do the recording of your finances or have someone do it for you, it is still advisable that you know the fundamentals of accounting. It also makes it easy for you to understand the numbers and interpret them. That way, you know when something’s amiss or when you need to pay more attention to a certain part of the business.

3.       Hire a dedicated person to do your accounting needs

Being on your own at the initial stage of your venture is not an uncommon situation for entrepreneurs. But as you go along your journey, you may realise that there is a need to have another person do your accounting work. Whether it’s a full-time staff or a third-party contractor, you need to delegate the finance job to a particular person or team because it will take too much time and effort to constantly do it. In addition, it needs do be done in a detailed and meticulous way to make sure that records are accurate and regularly updated.

4.       Document and record transactions

Always keep and file your receipts and financial documents. It is needed for auditing purposes. Plus, it is also to your benefit and future reference when everything is put in black and white. Better to digitalise your files and save them on your computer so you can store them without taking up too much physical space. Don’t forget to back up your files and keep multiple copies. On another note, be conscious of tax requirements and deadlines and make sure you comply with them. A clean record of your finances will be helpful for auditing and tax filing.

5.       Segregate expenses

Even when you are starting out small, always separate your personal from your business expenses. As you expand, make sure that you segregate budget and expenses per project or department. This also makes it easy for you to track money that comes in and out of your business.

6.       Do regular financial check-ups and reporting

Filing, monitoring and reporting financial transactions are tedious work. However, they come in handy when you maintain a rhythm. Reporting allows you to be conscious of your current financial status. You learn from previous data, which you can use when you plan your future and forecast your earnings. Regular accounting check-ups contribute to the financial health of your company.

When in doubt or when problems come your way, always consult an expert. You can refer to certified accountants and fellow entrepreneurs regarding efficient accounting procedures and systems that can help your business grow. Observe good financial practices to avoid drawbacks that you may encounter in your entrepreneurial journey. Accounting is a serious matter because the numbers you see in your

Business notes from playing musical instruments

Several studies and researches have shown the effect of music on the brain, including how it stimulates the mind, improves memory and reduces stress. Music can also be a powerful factor in honing the skills and creativity of entrepreneurs. Picking up an instrument and learning to play it will not only make a great hobby but it can also bring a lot of benefits to one’s wellbeing, as well as insights that you can apply to your entrepreneurial journey.

If you are considering learning how to play a musical instrument, you can choose from the various types: percussions, such as drums, chimes or xylophones; brass instruments, such as trumpet, bugle or trombone; strings, such as guitar, violin or harp; keyboards, such as piano, organ or accordion; woodwind, such as flute, clarinet or oboe; or electric musical instruments.

While you enjoy creating music through these devices, don’t forget to bring home some business lessons that you can draw from these musical tools.

Listen and observe well to learn well

Listening is not just about hearing the sounds by ear. It also involves sensing others through one’s mind and heart. Music is best interpreted when it is played with feelings. Techniques and methods can be acquired if you pay close attention to how your teacher and experts do it. In the business sense, it entails observing and understanding the market, your team and the industry flow. You can base your decisions on how your customers, consumers or clients react to your brand, products and services.

Know the theories but don’t be afraid to be creative

Music has measures, rules and fundamentals. But you can also create art out of it. In most cases, music shapes culture or is shaped by culture. And as society evolves, music also innovates. It is advantageous for a musician to learn the basic theories of music as much as it is beneficial for an entrepreneur to be knowledgeable of the rudimentary of business and trade. Still, putting in your persona into your craft will even make your music or business more relatable and relevant to others. Do not hesitate to be creative and shape your venture according to how you visualise it to be.

Train and practice to hone your skills

Experience is said to be the best teacher. There is no better way to improve your skills, may it be in music or entrepreneurship, than to keep practising and applying the learnings you obtained during your training. Sometimes you commit mistakes, but that is how you learn most. It sticks to your mind which ones you should avoid in the future and which ones you must retain. As you keep on practising the skills required of the craft, you also develop certain habits that can lead to your mastering the field. Continue honing your capabilities until it becomes second nature to you to do the things you need to do.

The fruits are not only for yourself but also for others

Playing an instrument produces music that you can enjoy by yourself. But it can also be shared with others and give them a warm feeling. You build your business not only to benefit yourself and your family or loved ones but also to serve those whose needs are addressed by your product or service. You provide a particular solution to a demand, which is why people patronise your brand. When your audience or customers enjoy the value you give them, they will most probably show their loyalty to you.  

Harmony is key in group work

You may be able to play an instrument by yourself, but it is even more beautiful when you play it with a band. The music becomes more alive and magnificent when you harmonise with other players in the group. The same thing goes for entrepreneurs. You may be able to start by yourself. However, if you want to grow and expand your services, you need a team to work with you. When this moment comes, you have to do things with harmony where everyone is on the same page and direction to lead you towards your goals.

There may be more insights you can get from learning to play a musical instrument. As you let your hands and body become one with your musical tool, don’t forget to be in the moment and enjoy the experience. Let the songs get into your mind, heart and soul and extend the warmth to your business. The entrepreneurial journey will be more pleasant when you accompany it with the joy of making music.

President's Update - December

From the President

Dear EO Melbourne,

With Christmas’ imminent arrival at our doorsteps and today being the last operating business day for many, I hope that each and every one of us get moments and space to slow down, reflect on the 2019 calendar year that has come to pass, and spend quality time with those we cherish and love.

Whether it be breaking bread over Christmas lunch, sharing treasured memories during Christmas eve, or opening/watching our loved ones open their Christmas gifts with anticipation and excitement on Christmas Day while we snack on leftovers from the night prior, the upcoming holiday season is an opportunity for us to slow down, hit the pause button, and be amongst those we hold near and dear to us.

I’m pleased to report that the first 2 quarters of the 2019/2020 term has brought with it the achievement of many milestones for our Chapter. However, as I drafted this letter at my desk, I found myself self-editing entire paragraphs. Finally, I decided that these details are better served in our next update and for today, it is best to keep the message simple and concise: I, and our 2019/2020 Board, wish each and everyone a joyous and safe holiday filled with much genuine happiness, laugh-until-your-cheeks-hurt moments, the opportunity for many deep and meaningful conversations (maybe even ones that we have been putting off for a while), conversations of substance, and joyful memories that we’ll treasure forever.

As we wind down the year, and as I do every month, I sign off with inviting you to think back to our theme this year “Our Best Year Yet!” and to think about that 1 thing that if you achieve it, will make you want to jump up on the table, pop open a bottle of champagne, and start dancing.

With Warmth,

Kym Huynh

President 2019/2020

Marcus Lethlean on the business of serving

With several businesses under his belt, one would think that Marcus Lethlean, owner of Mediport, GoodBarTrade, 4Degrees Celcius, A2b Solutions and OneSevenOne, has already mastered the entrepreneurial journey. Still, he sees himself having the need to acquire better skills to take his businesses further and serve better the people that benefit from his services. At the same time, he shares the learnings he gathered during his years of establishing and managing his ventures.

When faced with the question of why he started his businesses, Marcus admits that he couldn’t see himself in the corporate setting. Marcus likes to start something from scratch as it gives him the freedom to create, set his own directions and strategize his next steps. He explains, “I have worked inside the corporate environment and there are some aspects of the hierarchical chain that can blunt people of their creativity.  At other times, the system can teach people not to go out on a limb. And yet, every entrepreneur that I know went out on a limb, particularly founders. You don't even think of the risk because you just feel like it's going to work.”

It wasn’t always a smooth-sailing journey, however. Before he began his first business and went on to build more, Marcus had several attempts on building a business, all of which faded away. His first was when he was 13 years old doing door-to-door sales and went on to venture on several other business endeavours as he went along. He persisted despite the disappointments he encountered when those attempts didn’t fully prosper, which brought him to some of the low periods of his life.

Instead of leaving the entrepreneurial journey, he studied law and then started working at nights again until he found himself back to the path he always wanted to take. “The biggest lesson I have learnt is to follow the feeling. If an idea makes you feel excited then turn it inside out. That little buzz is a real call to action because it means you've got to find the next stepping stone that edifies the original feeling,” he remarked. And in that journey, he found the beautiful loop of thoughts-action-effort-outcome where he gets the feeling of accomplishment as an entrepreneur whenever he reaches his goals.

As to the challenges that he had to hurdle in starting and sustaining a business, he pointed out the lack of knowledge, lack of resources as he self-funds his ventures, and getting the right people on board his entrepreneurial bus. These same challenges also brought lessons to his continuous journey that he is now able to share with others who are also going through similar experiences.

The essence of a good business is simple

“Good businesses are identified where someone has a need and the other person can satisfy that need. And both parties want each other to stay inside the relationship, so they treat each other fairly. They price the product and the service accordingly,” Marcus expounds.

In all his businesses, Marcus ensures that they provide very good quality service to their clients, most of which are service-oriented businesses as well. They also use proprietary applications, software and systems that allow them to monitor and uphold the highest standards of service. For Mediport, where they provide logistical support in transporting vaccines and pharmaceutical products, there is the potential in this business to save lives through timely deliveries and the protection of the products through good process.

Say “yes” and back it up with action

“Say yes and then have an action that you have to follow through,” Marcus declared. “That's one tool that I used. Say yes and then figure out how,” he reiterated. He shared that he always find ways to make sure that the customers get what they need from him. Even when there are bumps, he’ll look for alternatives to guarantee the promise they make to their clients.

Widen your knowledge

Experience has taught Marcus how to handle adversities and it honed him to become a better entrepreneur. He also credits his late father, who had been his confidant and supporter. Still, he keeps on adding to his knowledge by reading books that can sharpen his thoughts and perceptions of doing business well with others. These are the four books Marcus mentioned that have contributed to his growth as a business owner.

1. Johnathon Livingston Seagull by Richard Bach – a gift from his dad when he was 12 years old where he found many important insights.

2. The Alchemist by Paulo Coehlo – “He teaches you to follow your dreams and never turn your back on opportunities as you cannot be sure they will still be there when you turn around again,” according to Marcus.

3. The Richest Man in Babylon by George S. Clason – “It's an incredibly powerful book about a slave that had an amazing work ethic. The richest merchant in Babylon bought the slave’s freedom and taught him the 10 rules for wealth so he too could become the wealthiest trader in Babylon.”

4. Think and Grow Rich by Napoleon Hill – “It’s a really good book because it allows you to tap into the mindset of the people who have been very successful.”

Manage and train people

Despite several businesses to oversee and with a huge scope of operations, Marcus is able to do it because of the people who work with him. There were staff challenges that he didn’t see coming, but he was able to tap on the skills and passion of those in his team to help him bring his businesses forward. He stressed the need to make certain that people feel they are part of the team. “If people have it in their minds that the workplace is a ‘them and us’ it doesn't work,” he stated. “It’s a delicate balance every day to manage people and make sure that you are all on the same page and getting the best from each other.”

A service-based model that people respect

Marcus highlighted the difference between humble service and servitude. He elucidated, “Setting up the relationship for service means you have the opportunity to let people know how well you are wanting to help them.  I think that is most important to identify their needs and highlight that understanding to the person for whom the service is being supplied.”

“If people think that they are in a relationship where one party is taking advantage or in a relationship typified by servitude, it will dull their enthusiasm to provide outstanding service and, ultimately, it might fall apart.”

He also added that it takes two good ears to be able to serve others better. “Whether it's listening to your market or to a new person in your business or to people who know more than you, you've got to be able to listen,” he added. Such a service-based model enables entrepreneurs to become part of a solution. It leaves no lingering feeling other than goodwill.

Taking the wheels and bringing it further

Marcus is the kind of business owner who is not afraid to take the wheels, literally and figuratively, and drive his businesses towards his goals. When he’s down on people, he would get in and drive to fulfil his client’s needs. He acknowledged that he still has a long way to go to expand his ventures internationally, which is why he joined EO Melbourne to add more learnings that can equip him to become a better entrepreneur. “I've never had a business mentor. As such, I think the structure of the learnings that occur with EO can fulfil that mentoring role incredibly well,” he said.

He has started thinking of better skills to acquire in a managerial sense, a marketing sense, and strategizing sense. And with a young family – a three-year-old and a year-and-a-half-old – he hopes to see his kids grow up to become fine men. It’s something Marcus looks forward to in the future, including a better version of himself and several thriving businesses that will continue to serve those who are in need of their services.

Tips on how to become a good public speaker

When you achieve a certain level of success as an entrepreneur, one of the things you’ll receive are invitations to speak to a group and share your entrepreneurial journey with them. While there are some that feel right at home on stage and under the spotlight, there are those that find it daunting to face and talk to an audience, especially a large one.

Stage fright or the fear of public speaking can often hinder one to share valuable insights. If your fear is to mess it up and not deliver your message right, then there are a few things you can do to develop yourself to become a good public speaker.

Preparing for a speaking engagement

Preparation is key to hone your craft in public speaking. And you have to prepare yourself mentally, physically and emotionally even when you don’t have any scheduled engagement in place. You have to keep a mindset of being always prepared in case something comes up and you need to take the podium and the microphone. Here are things you can do before or when you are preparing yourself for a public speech.

Watch videos of speakers. During your spare time, learn how the experts do it by watching videos of them like the ones in TED Talks and similar materials, many of which you can access online. Note what makes them effective speakers and observe the various methods they employ to capture their audience.

Don’t memorise, but outline your thoughts. When you plan what to present and how you will go over your topic, organise your ideas through an outline. It’s more advisable NOT to memorise your entire speech as you might make a mistake along the way and affect your entire presentation. Rather, keep in mind the flow of ideas by familiarizing yourself with the outline. Of course, this goes without saying that you should know the type of audience you have beforehand so that you can adjust your presentation and tailor-fit it to them. Prepare your notes in bullet points using keywords or keyphrases so it’s easier to remember.

Inject anecdotes and personal stories. The audience loves it when you share a part of yourself. While you may present facts and figures during your presentation, it makes your speech more engaging through personal experiences. It strengthens your connection with the audience, especially if they can relate to your story. It adds a human element to your speech. You can also include powerful quotes from famous people, but don’t overdo it.

Practice in front of a mirror. If you really want to hone your speaking skills, you have to practice a lot even when you don’t have a speaking engagement coming up. Practice in front of your family or friends and do it also in front of the mirror. You will find excess gestures or habits or facial expressions that you need to control when you speak in front of a crowd.

Record your speeches and practice sessions. When you speak before a group, record your presentation and watch closely the things you need to limit and avoid next time. Probably, you stammer or you talk too fast. Maybe your face stays stoic the whole time or you talk on a monotone. Make a mental note of what you can stop, continue and improve doing when you deliver a message to an audience.  

During the speech

The crucial moment is when you’re on stage and holding the microphone. If you’re not careful and you allow your nerves to get the better of you, you might experience a mental block or freeze on the spot. First, remember to breathe. Focus on your breathing until your nervousness goes away and you become calm. Then go ahead and start your talk.

Pause and talk slowly. Don’t rush. While you are mindful of the time element, deliver your speech rightfully. You can change your pace throughout your talk, pause for effect, enunciate words that you want to stress and repeat certain phrases that need to be highlighted.

Control your tones and gestures. Watch out for your hands. You might be overdoing some hand movements. Control them by putting your hands together in front of you in a relaxed manner and use them only when necessary. An enthusiastic tone can help gain the attention of your audience. You can lower your voice at certain portions and raise them up at important parts. The key is to have variations throughout your speech so as not to lose your audience.

Maintain eye contact and interact. Scan the crowd and look at people in the eyes when you talk. Public speaking is also a form of conversation, it’s just that you are talking to several receivers of your message. Make your presentation interactive by asking questions, engaging your audience or even making them repeat some phrases for emphasis. The eyes are the windows to the soul and looking directly to your audience allows you to show your sincerity, be sensitive to their feelings, and build confidence.

Maximize your space. You may have a large stage for your talk, a small platform or you may be seated on a couch. Get familiar with your space before your talk so that during the presentation proper, you can use it to your advantage. If it’s too large, walk around to involve all your audience in the conversation. However, if it’s just a platform, it’s an opportunity for you to be intimate with your listeners because you can walk nearer to them.

Leave a good closing statement. Make your ending memorable. Just like any good movie, doing a presentation also leads you to a climax and denouement. The finale must be impactful and powerful enough to cap your talk. That way, the audience will remember more about your speech and the pertinent points you raised.

So, get your notebook ready and start taking down notes. Go in front of the mirror and practice speaking. Hone your public speaking skills because it’s a tool you can use in inspiring and motivating others, sharing your story, building yourself and promoting your business. Once you have the confidence to hit the stage and the podium, you can now start accepting invitations for speaking engagements.

As American clergyman Alexander Gregg once said, “There are three things to aim at in public speaking: first, to get into your subject; then to get your subject into yourself; and lastly, to get your subject into the heart of your audience.”

20 Inspiring quotes from successful entrepreneurs

When the hardships of the entrepreneurial journey take a toll on you, you often need the power of words to encourage, uplift and inspire you to keep going. Some wise quotes from successful entrepreneurs who have been through it all can give you a little push to strive towards your goals. Their words can remind you how these business owners have triumphed in their respective challenges and adversities.

We compiled these quotes that you can hang on your workplace or office or put as a reminder for you whenever you encounter some setbacks along the way. These words can give you a push to motivate you when you feel down or discouraged. See which ones suit best for you in your present situation and reflect on how you can apply these sayings to action.

“Entrepreneur is someone who has a vision for something and a want to create.”
– David Karp, founder and CEO, Tumblr

“Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do.”
– Steve Jobs, co-founder, Chairman Apple Inc.

"Passion, creativity, and resilience are the most crucial skills in business. If you’ve got those, you’re ready to embark on the journey." 

– Jo Malone, founder, Jo Malone

“Don’t limit yourself. Many people limit themselves to what they think they can do. You can go as far as your mind lets you. What you believe, remember, you can achieve.” 

 – Mary Kay Ash, founder, Mary Kay Cosmetics

“When you find an idea that you just can’t stop thinking about, that’s probably a good one to pursue.” — Josh James, CEO and co-founder, Omniture

“The way to get started is to quit talking and begin doing.”
– Walt Disney, founder, Disney

“My biggest motivation? Just to keep challenging myself. I see life almost like one long University education that I never had — every day I’m learning something new.”
– Richard Branson, founder, Virgin Group

“Always deliver more than expected.”
– Larry Page, co-founder, Google

“See things in the present, even if they are in the future.”

– Larry Ellison, co-founder, Oracle

“I knew that if I failed I wouldn’t regret that, but I knew the one thing I might regret is not trying.”
– Jeff Bezos, founder and CEO, Amazon

"You have to see failure as the beginning and the middle, but never entertain it as an end." 

– Jessica Herrin, founder and CEO, Stella & Dot

“Show me a person who never made a mistake, and I will show you a person who never did anything.”
– William Rosenberg, founder, Dunkin’ Donuts

“What do you need to start a business? Three simple things: know your product better than anyone, know your customer, and have a burning desire to succeed.”
– Dave Thomas, founder, Wendy’s

“Your most unhappy customers are your greatest source of learning.”

– Bill Gates, co-founder, Microsoft

"No matter how many customers you have, each is an individual. The day you start thinking of them as this amorphous ‘collection’ and stop thinking of them as people is the day you start going out of business." 

– Dharmesh Shah, co-Founder, HubSpot

"People are the most important thing. Business model and product will follow if you have the right people." 

– Adam Neumann, co-founder, WeWork

“The fastest way to change yourself is to hang out with people who are already the way you want to be.”
– Reid Hoffman, co-founder, LinkedIn

"Ignore the hype of the startups that you see in the press. Mostly, it’s a pack of lies. Half of these startups will be dead in a year. So, focus on building your business so you can be the one left standing."

– Jules Pieri, co-founder and CEO, The Grommet

“No more romanticizing about how cool it is to be an entrepreneur. It’s a struggle to save your company’s life – and your own skin – every day of the week.”

– Spencer Fry, co-founder, CarbonMade

 “So often people are working hard at the wrong thing. Working on the right thing is probably more important than working hard.”
– Caterina Fake, co-founder, Flickr

Later on, when you have carved a name for yourself not only within your industry, niche or territory but also to the global business world, in general, you may also be able to share words of wisdom that aspiring and budding entrepreneurs can take inspiration from. There is always a part of your entrepreneurial journey that can bring insightful lessons to others who may come after you.

Shaping your corporate culture

Corporate culture is an important facet in the success and longevity of a company. Similarly, if a corporate culture incites undesirable behaviours within its people, it may lead to the downfall of an organisation.

Culture is not something that is built overnight. It develops over time until it becomes a standard and comfort zone of a set of people. When it is ingrained deeply in their minds and conduct, it becomes an accepted norm. On the other hand, the wrong values or culture that become a regular practice in your organisation will be difficult to undo and change to how you want it to be.

Hence, it is vital that an entrepreneur shapes the corporate culture of his company in the onset. However, not all business owners may have this in mind when everything is just starting to roll, especially for those who spend the initial stage doing all the roles by themselves and employed people only a few years later. Before they know it, the establishment has grown and people have become absorbed to a particular mindset, psyche, belief, language, behaviour and interaction that may dictate to how things are perceived and done in the organisational space.

If you want your company to adapt to a particular corporate culture, there are a few things you need to do to shape it according to how you want it to be. It may yield far longer than you have anticipated, so you have to exercise patience, persistence and consistency to achieve the desired results.

1.       Determine the values you want to inculcate

Envision the kind of workplace and interaction you want to attain within your business. From that, identify the values that you want your company, brand and employees to have. You may want your business to be attributed as a fast, efficient and reliable one. It could be that you prefer a family-type of environment among your staff and with your clients. You may want to hype creativity within your group that others will associate you for your out-of-the-box ideas. Whatever it is, your vision of your work environment is essential in carrying out the specific tasks to introduce and build a particular culture in your organisation.

2.       Include in the policies

The good thing about being an entrepreneur as compared to working as an employee in a huge company is that you have a hand on how the work culture would be within your business. To reinforce your aim and turn your ideas into action, you will often need to put it into policy. For example, if you want punctuality as a culture within your venture, then you need to have HR guidelines on work hours, turn around time and activity timelines.

3.       Communicate and listen to your team

For you to be successful in shaping corporate culture, there has to be a buy-in from your staff and stakeholders. Keep mentioning about the kind of work environment you’d like to have during meetings whenever you give a pep talk to your team until it has become ingrained in their thoughts. Include this as an agenda in your regular huddles. Create an atmosphere of suggestion where your team can openly share their thoughts on the culture. If everyone agrees to it, emphasise it through reminders on your bulletin boards or in your various communication channels. You can introduce a culture or policy through a teambuilding activity, where you can hire a consultant to help you convey to your team the culture you have in mind.

4.       Hire according to the culture fit and skills set

The challenge often is when a new person comes in and it disrupts the current culture of the team. When hiring a new staff member, look into the candidate’s culture fit as much as you review the credentials and skills set that they may bring to the table. Once you have successfully selected the right person for the position, make sure to orient the new hire about your corporate culture to avoid misunderstanding or possible conflict in the future. They must know what they’re getting into and be committed to abiding by the rules and culture of your business.

5.       Validate right behaviour with rewards

To fortify actions that contribute to the corporate culture you want to build, validate them through a rewards system. As in the example above, if punctuality is something you want to be part of your culture, then include an award for employees who come to work early or do things without delay. When employees develop a good feeling towards something they have done, they will tend to continue with it or improve on it.

6.       Lead by example

The best way to entrench in the consciousness of your team about the kind of culture you want to have in your workplace is to live by example. Whatever they hear from you or read in employee manuals will be substantiated by your action. You cannot stress punctuality if you come late to work. Otherwise, it will cause some cracks in your organisation because people will no longer take your word seriously.

If you don’t know where or how to start shaping your corporate culture, seek counsel from a mentor or someone who has done it before. Remember that culture involves people and people are dynamic. Thus, culture may evolve or it may come out differently as to how you imagined it to be.

Stay focused on your vision, mission and values, which are the foundation of your corporate culture, and set your directions based on that. Conduct self-reflection and evaluate your work environment regularly. A positive and encouraging culture can bring happiness to you and your entire team, which can lead to a motivated staff that works with you in achieving your goals.

Nyree Hibberd: bringing meaning and beauty through her business

Gift-giving is part of our way of life from days old. People give gifts for every occasion, especially this time of the year when the holiday season is fast approaching. But selecting an item as a present is not as easy as grabbing anything available on the shelf or adding the first product you see online to your virtual shopping cart. It helps when you can find something that has meaning to people and society and give it to those who mean most to you. That is the core of Koh Living, the business that Nyree Hibberd and her business partner put up several years ago.

The conception of Koh Living was unexpected. Before she began with this venture, Nyree had an IT business for about eight years, while her business partner was in recruitment. “My best friend and I were travelling through Asia, and we were in Bangkok at an Israeli cafe having lunch. A lady on the next table asked to join us. She travelled the world buying products for her store in Queensland. My best friend and I just looked at each other and thought, ‘Well, that sounds fantastic. Why don’t we do that? Let's do it. Let's just stop doing what we're doing and start something that will just be fun and get going.’ So, that was probably the turning point for deciding to get off the path that I was on, which was business, but it was IT and completely different compared to gifts,” Nyree narrated.

Different topics, same themes

While there are differences in the types of business Nyree had previously and the one at present, which is Koh Living, she found that there are also parallelisms. Managing people, administering operations and staying on top of the financials, especially the cash flow, are some of the similarities she found between the two businesses.

The challenge she encountered was in retail. Nyree had never sold anything all her life. She had to get her hands dirty and do things by herself. She found herself selling candles in the markets, something she never did before. Creating products, overseeing stocks and dealing with artists, suppliers, and contractors were the areas where she needed to adjust. There were things that she needed to learn and some lessons came the hard way.

Learnings and tools

Through her experience in her IT business and now Koh Living, Nyree has come to learn a few important things in running a venture: define your roles with your business partner; foster an environment of challenge; watch the numbers because they tell you exactly how healthy your business is or when you're going to have trouble; and lastly, get the legal side of things in order.

During the first five years of Koh Living, Nyree and her business partner were just having fun. It was at the next five years of the company when they started to take it more seriously and looked at educating themselves and trying some tools that can help. “As we got to that 10-year mark, the first two books that we came across that were really useful were Jim Collins’ Good to Great and Verne Harnish’s Scaling Up. So, we started dabbling with the flywheel and the quarter sheets,” Nyree stated.

Having an end product that they need to constantly track, they use a software tool, Unleashed, to manage inventory. Then, they export the numbers to Excel to analyse their data. “I would say that in every industry, there will be a tool that feeds you back that data or about the health of your business and the core thing that you sell,” she added.

Her desire to upskill and bring more to her business led her to join EO Melbourne. She was through Verne Harnish’s website and found that he had coaches. That made her contemplate of doing focused one-on-one training instead of attending conferences. She and her business partner got a coach and it was during one of the sessions that EO was mentioned. Seeing that EO is composed of people with businesses, experiencing similar issues as they were, Nyree decided to join the group.

Products with meaning and beauty

To set Koh Living apart from other brands selling similar product lines, Nyree and her business partner decided to produce gifts with meaning. “People are becoming more and more conscious of connecting with other people. We live in a more connected but disconnected world. A lot of it is becoming about the experience. So, if you're going to give a gift, people want it to mean something. We want it to not just mean something to them personally but also to think about how it's being produced, where it's being produced, and if some of the money is going to a bigger cause than ourselves. What we do with our stories is we link them back to have some meaning not just to the gift recipient but to society, as a whole,” she explained.

To give meaning to their merchandise, they link the consumers with their artists, providing a platform where the customers can know the story behind the artworks. They have indigenous designs, Australiana themes, Wildflowers range and other motifs by their Aboriginal artists. Apart from meaning, they also make sure that their products exude beauty. They put a lot of thought into the design and the material of their items so that they come up with quality goods that are priced fairly.

Putting purpose on the business and the entrepreneurial journey

Despite 15 years of Koh Living, Nyree is unsure how the future will unfold 10 to 15 years down the road. Given the constantly changing consumer behaviours and trends, especially with technology transforming things so fast, she admits that it’s hard to even look at the next five years of the business. However, she is sure that Koh Living will still be going strong internationally at that point. She stressed, “We need to scale it in a smart way so that we don’t fall apart at the seams and become a victim of not watching how society is actually changing their purchasing behaviour.”

But on a personal note, she hopes to also contribute to society in a bigger way. “I've just applied to get on a board in the indigenous environment for artists. So, I'd like to see myself assisting businesses and individuals outside of Koh Living in a way that I can bring what I've learned about growing a business to others that aren't necessarily as big as Koh Living at the moment or are just starting out or in that stage where they're growing,” Nyree shared.

Since the time Nyree and her best friend thought of the idea of Koh Living, they now wake up with one thing on their mind:  to make people feel special.  Koh Living has come a long way and they look forward to continuing to create moments of connection, love and joy with friends and family among the chaos of modern life well into the future around the globe.

Know more about Nyree Hibberd through her LinkedIn profile. Read on Koh Living and its products at https://www.kohliving.com.au/.

Nyree and her business partner in Koh Living.

The importance of succession planning in business

It takes a lot of effort to plan, prepare, start, manage, sustain and grow a business. However, most ventures revolve around the business owner. If the entrepreneur does not have any business partner or family members involved and when unexpected things happen on the owner without any backup plan in place, all those hard work may go down the drain.

To ensure the continuity and growth of the business, especially when one wants to, later on, be on the business rather than be in it, putting together a succession plan won’t hurt and may even be beneficial to the entrepreneur. Having one doesn’t necessarily mean that you are leaving the business. Instead, it can help you focus on more important roles rather than taking on several responsibilities.

Ensures continuity and assures stakeholders

Creating a succession plan is a way of securing the continuity and future of your business. Whether you want to take on a different role, expand the business, start new ones or retire from the company, it will assure your investors, board, staff and clients that the company will continue to operate and carry on the vision and legacy it wants to create. It guarantees your stakeholders that there will be no void in the organisation should anything inevitable may happen to you or the business.

Motivates current employees and hones prospective leaders

Succession planning is usually done through internal movements in the organisation. Going that route can encourage your current employees to perform well in the hope that they will someday take on a higher position, which can be one of the positions you hold. You can evaluate members of your team who has the potential to take on bigger responsibilities. It will also hone prospective leaders within your team as you equip them with skills and qualities that are needed to fill in a leadership role in the business.

Fills in the gaps

When you put a succession plan in place, you may be able certain gaps in the organisation that you might not have seen before. It allows you to see things from a different perspective and gives you room to address what you may have missed before. When you look at possible candidates for an important post in your business, you tend to step back and look at things from a bird’s eye view and then you zoom in to the details, giving you the opportunity to think ahead of possible problems and come up with solutions or alternatives.

Provides opportunity for personal and business growth

Although most business leaders come up with a succession plan during the times when they intend to leave the organisation, it is not always the case. You may want to take on a board role rather than handling the day-to-day operations of your business. There may be instances when you want to start new businesses while maintaining the current one. Whatever circumstance you may have as a business owner, having a succession plan gives you more room to grow as an entrepreneur and expand your business.

If this is something that you are wanting to do in the future, it is good to discuss this with your HR and board so you can put a proper structure and system in place to get a succession plan going. But even before you draft a blueprint of your plan, you can first seek advice from mentors or other entrepreneurs who have done it before. Also, know the repercussions that may come with having that plan in your current setup. Nonetheless, it’s something you might have to face later on along your entrepreneurial journey.

Family bonding tips for busy entrepreneurs

Running a business of your own and providing quality time for the family are two priorities that many entrepreneurs try to balance in their lives. There are several schools of thoughts when it comes to juggling personal and business responsibilities. Likewise, every entrepreneur has a different approach to managing their time, based on what works best for them.

A family is a strong support system that can help business owners go through the demands and trials of the entrepreneurial journey. Correspondingly, when problems arise in the family, it can have an adverse effect on one’s well-being and of those around them. Thus, it is important to preserve the joy and unity in your family. Having a healthy relationship between couples is a strong foundation in good parenting and keeping the family together. Whether you have a young family or children that are on their teens or adolescence, having a connection with them is significant in the growth of the relationship.

Understanding the importance of family, entrepreneurs find ways to nourish and cultivate it. Some business owners may have the intention of putting a focus on their family but don’t know where to start. Remember that there is no clear-cut formula to family success because one method may work for one and not on another. Nonetheless, there are a few suggestions that you can do to deepen your relationship with your family members.

Dine together

Doing a family bonding activity does not need to be extravagant. Simple joys like breaking bread or sharing delectable food may already bring you together. The most common activity that a family share is having meals. The key factor is that you have to put family matters in your schedule as much as you do for your meetings and business transactions.

Whether you spend it at home every night or you go out to a restaurant on a weekend, eating together is a form of fellowship. Avoid using your gadgets when you’re gathered around the dinner table. Appropriate this time to converse with each other and take an interest in the lives of one another. Have one-on-one dates with your partner and with each of your kids and allot a group date where all family members can be present.

Help out in studies or do family projects

Children look up to their parents to guide them in their works. You and your spouse can schedule who will help out the kids on their school work. Better yet, do a project where the family can all partake in that endeavour. Clean the garage, landscape your garden, wash the pets or cook a meal – do something that everyone will enjoy.

Travel or take a vacation

Sometimes you really need some time off from work to relax and spend special moments with your spouse and children. Travelling can bring out the best and worst in you and your companions. But it’s also a way to get to know each other better and find means to adjust to each one’s personality. Take a vacation where memories can last for a long time. Go fishing or camping. Whatever you want to do or wherever your destination may be, make sure that you agree and plan your vacation as a family. Otherwise, if you do it all by yourself, you might end up satisfying only yourself and neglecting the preferences of other family members.

Indulge in sports or hobbies or shared interests

If you are an active family, it’s good to sweat it out over a ball game or a sport you all love doing. It could be that you are a family that enjoys doing puzzles or making beautiful arts and crafts. You probably have the heart to be involved in charity works where you, as a family, can help other families or vulnerable sectors in society. Find your shared interest and work on that to bond with each other. Doing such will also contribute to the personal development of every family member.

Involve them in your entrepreneurial journey

Because the entrepreneurial journey is full of highs and lows, it is best that your partner and children understand it as well. The good thing with EO is that the forum experience can be extended to your spouse or partner as well as to your children that are 16 to 30 years old. They can share their experiences and concerns with other spouses or other children of entrepreneurs. Whether they are interested to be involved in your business or not, taking those who are important to you in your entrepreneurial journey will allow you to walk together towards success.

All in all, discuss with your partner and children how you can nurture the love and care within the family. Despite your busy schedules, find time for each other and cherish the presence of one another. Help each other in your individual undertakings and bring out the best of every family member. When you reach your goals with your loved ones by your side, success becomes even more meaningful and fulfilling.

President's Update - November

From the President

Dear EO Melbourne,

Can you believe it’s almost Christmas, and that it is less than 4 weeks away? As I pause and reflect on the 2019 calendar year to date, I am amazed at the passage and progression of time. Christmas will soon be upon us, and as we turn our minds to spending quality time with our friends, family and loved ones, I hope that this year is one that has been deeply enriching, infinitely rewarding, and filled with learning and growth for yourself, your friendships, your family and the communities you serve.

First and foremost, a king-size nod of acknowledgement and congratulations to our Past Presidents Andrew Mackinnon and Dean Cherny who, alongside their organisation committee, planned, curated and executed EO Ignite Melbourne from Wed, 30 Oct to Fri, 1 Nov. A roving event that spanned 6 well-known Melbourne locations, Melbourne played host to Members from all over APAC and around the globe; and rumour has it that this was quite possibly the best EO Ignite conference ever held. If having 2 Past Presidents lead the charge on the DJ booths during the closing ceremony doesn’t confirm this, then I don’t know what will. It is my hope that EO Ignite provided ample opportunities for you to create relationships and friendships that will last a lifetime.

By now, you will have received an email with your own individual pairing for Forum One2One. Under the leadership of our affable Integration Chair Aaron Wallis, Forum One2One is now alive in EO Melbourne and is a quarterly matching of 2 EO Members so that they can catch up over a coffee or a meal. If you have not yet received your Forum One2One pairing, please contact our Integration Chair Aaron Wallis or our Chapter Manager Kirsten Yokoyama.

Our Key Executive Program also deserves a mention this month. Under the care of our Key Executive Chair Shan Manickham, our program has seen the introduction of new multiple key executives this month, and will soon launch a second Forum. Are you interested in your key executive having access to the quarterly Scaling Up learning days, participating in a Forum experience for key executives only, and having access to some learning events? Please contact our Key Executive Chair Shan Manickam or our Chapter Manager Kirsten Yokoyama for more information.

As a Chapter, we are also now 55% enrolled in the MyEO Matrix. If you haven’t completed your MyEO Matrix yet, please ensure you do so that you start receiving information, events and resources for your area of interest and/or passion, whether it be how to raise impactful families or EOers passionate about wine. If you have yet to complete your MyEO Matrix, our determined MyEO Chair James Murray will be reaching out to you personally to help walk you through the process (and to say hello as well!). Alternatively, take action and complete your MyEO Matrix at https://www.eonetwork.org/member/myeo.

Governance-wise, our Chapter is looking healthy, with the nominations for the 2020/2021 Board complete, and the confirmation of a President-Elect, President Elect-Elect, and President Elect-Elect-Elect. Our upcoming Annual General Meeting (21 Nov) will announce who these candidates are and will ensure that we safeguard and nurture the future of our Chapter.

As we approach Christmas, let’s close off the year festively and in style at our all-white affair “Christmas Long Lunch en Blanc”. Remember that the dress code is white attire, and we will be handing out the cone of shame for anyone who displays subversive ideas by bucking the dress code. Register for our Christmas Long Lunch en Blanc at https://www.eonetwork.org/member/events-and-learning/event-details?eventid=dc95841d-bf9b-e911-9450-005056aa3141.

Finally, as I do every month, I sign off with inviting you to think back to our theme this year “Our Best Year Yet!” and to think about that 1 thing that if you achieve it will make you want to jump up on the table, pop open a bottle of champagne, and start dancing. Let’s make a promise to take that next step so that we will journey closer to making this year “Our Best Year Yet!”

With Warmth,

Kym Huynh

President 2019/2020

10 Books by Women Business Leaders

The business space is no longer just a man’s world. Many women entrepreneurs have already entered the scene, although the path is still a challenging one. There are those who have paved the way can guide other women who are contemplating going through the entrepreneurial journey.

Apart from encountering gender bias in their respective industries, women also have to juggle various responsibilities, such as homemaking, parenting and running a business. Good thing there are resources available where you can gather insights from female business leaders on how to brave the business world. We have listed 10 books by women leaders in the business field where you can take inspiration from and help you chart your own path.

Shark Tales: How I Turned $1,000 Into a Billion Dollar Business 

by Barbara Corcoran - Founder, The Corcoran Group

At 23, Barabara already worked in 20 or more jobs. Borrowing $1,000 from her boyfriend then, she left her waitressing post and founded a real estate firm in New York City. The rest, as they say, is history. But the part between establishing her real estate company and growing it into a billion-dollar business is what most people are curious about. Her book is the key to finding that phase of her career that catapulted her to a Shark Tank star. She turned the lessons she gathered from her mother into strategies, adding common sense, determination and creativity into the equation.

She Means Business: Turn Your Ideas into Reality and Become a Wildly Successful Entrepreneur

by Carrie Green - Founder, Female Entrepreneur Association

Carrie’s foray into entrepreneurship was an arduous and lonely one when she began her first online business at a young age. To connect with other women and to support each other through inspiring stories and business trips, she formed the Female Entrepreneur Association. She also came up with a digital magazine, She Means Business, which is of the same title of her book. Carrie shares her experience through her book and provides some tips and exercises to hone your entrepreneurial mind.

I Thought it Was Just Me: Women Reclaiming Power and Courage in a Culture of Shame

by Brené Brown - CEO, The Daring Way

Female business leaders can pick a lot of inspiring thoughts and nuggets of wisdom from this book by Brené Brown, a University of Houston Graduate College of Social Work research professor and TED Talks speaker. Her in-depth studies and research enabled Brené to establish The Daring Way, a training and certification program for helping professionals, and write several books, including I Thought it Was Just Me. The book tackles the effects of shame on women and how women can transform these into courage, compassion and connection.

Thrive: The Third Metric to Redefining Success and Creating a Life of Well-Being, Wisdom, and Wonder

by Arianna Huffington - Founder, The Huffington Post

People may know Arianna as the name behind The Huffington Post and the Founder and CEO of Thrive Global, yet there is more to her than meets the eye. Regarded as one of the world’s most powerful women, Arianna shares her personal realisations on how the drive for power and money can hold us up temporarily through her book, Thrive. She emphasizes the need for a third metric to redefining success, which is living a life of well-being, wisdom, and wonder.

In the Company of Women: Inspiration and Advice from Over 100 Makers, Artists, and Entrepreneurs

by Grace Bonney - Founder, Design*Sponge

Here’s a book where you will find 100 stories of female entrepreneurs and how they faced various challenges. Design*Sponge founder Grace Bonney has been featuring the creative community and the people behind the designs. Through her encounters of women that embrace the entrepreneurial spirit, she came up with the book, In the Company of Women, which is a rich repository of inspiration from women of diverse background and how they brave the challenges of setting up their own creative businesses.

Girl Code: Unlocking Secrets to Success, Sanity, and Happiness for the Female Entrepreneur

by Cara Alwill Leyba - Creator, Dagmar Rose Vintage and The Champagne Diet

Cara has transformed her passion for fashion and writing into a business, and she has inspired many people through her designs, books, podcasts and workshops. Her book Girl Code is like a blueprint for female entrepreneurs as she shares her stories and life lessons. The book also has practical workbook sections that can help readers reflect on themselves and transform their lives.   

WorkParty: How to Create & Cultivate the Career of Your Dreams 

by Jaclyn Johnson - CEO, Create & Cultivate

Embodying the name of her business, Jaclyn has been at the forefront of women empowerment, encouraging them to create and cultivate their ideas to make a mark for themselves. At 28, she already sold her first business and opened her second company, Create & Cultivate, which is a multi-million dollar business. Apart from that, she invests in startups owned by women. Her book reveals the roller-coaster ride that is her entrepreneurial journey and features other female entrepreneurs who have also overcome adversities in their respective journey.

Body and Soul: Profits With Principles 

by Anita Roddick - Founder, The Body Shop​

Anita founded the global beauty brand, The Body Shop, where she had merged her advocacy for environmental consciousness and ethical consumerism into the products. She has left a legacy, not only for her business but for her activism and philanthropic works. She penned Body and Soul, the story of how she founded The Body Shop and brought it to success, along with her views and stands on various social issues.

#GIRLBOSS 

by Sophia Amoruso​ – Founder, Nasty Gal and Girlboss Media

Named by Forbes as one of the world’s richest self-made women, Sophia went against all odds, did several jobs and created an online eBay store that led to the establishment of Nasty Gal. Later on, she filed for bankruptcy and established Girlboss Media. Sophia realised she’s different, given her problematic background, so she wrote #GIRLBOSS for women like her and how they can still get on track on the road to success.

Broken Open 

by Elizabeth Lesser – Co-Founder, Omega Institute

Elizabeth has been involved in various environmental and social causes. She co-founded Omega Institute, which has been providing training and workshops on various fields and topics, including spirituality, personal growth and women’s empowerment. Her work, Broken Open, has a mix of stories, anecdotes, insights and other tools to guide those who are at the crossroads of their lives to make the right choices amidst the difficulties.

Both male and female entrepreneurs can learn from the writings of these women business leaders. Take inspiration from their experiences and bring the lessons from their entrepreneurial journey to your personal and business growth. Use these as your guide as you move forward towards your goals.

Designing an effective packaging material

A good product should go hand-in-hand with effective packaging. It’s such a waste if you have poured so much effort to come up with high-quality items only to fail just because the packaging has not been well-thought-of or the design is not properly executed.

When supermarket or store shelves are filled with different brands, the most efficient packaging is the one that will attract consumers the most. The sad reality is that people will only judge your product once they have unboxed or tried it. If you have a new product or one that they have not yet used before, they can only rely on your wrapping or container to make their purchasing decision.

If you are in the stage of conceptualizing your product’s package, these are a few things you have to consider for an effective design.

Catches the eye of the buyer

The appearance of your box or packet can be appealing without having to be too loud. It can be simple, yet attractive; colourful, yet do not have too many elements. If it’s also iconic, consumers may be drawn to it. Make your design different from the rest. Don’t be afraid to break conventions and dare to go against the norm. It may be a huge risk. Nonetheless, it is a risk worth taking if your disruption is the key to introduce a breakthrough and encourage buyers to pick your product.

Conveys clear messaging

Be direct and straightforward in your messaging, whether it’s your design elements or copy. It must not confuse your consumers and must portray what is close to reality. Be honest in your overall design because whatever you claim on your package can be verified by customers when they purchase your item. Any exaggeration or false claims can backfire on your brand. Don’t forget to include clear instructions and other necessary information on your product cover.

Embodies your brand

When you are at the drawing board creating your design, you don’t have to look further as to where to get your inspiration. Simply look at your brand elements and translate them to your packaging. They include your logo, font, colour and other features of your company or product. Moreover, whatever you put on your wrapping must embody the image of your brand.

Resonates to your audience

How you design your product’s container or packet must also connect to your audience. It has to be practical and useful to them, apart from being attractive and appealing. Functionality is an important factor in the decision-making process of buyers. If it’s environment-friendly or if it helps the community, it’s definitely a plus point. Thus, it is helpful to test your packaging and do constant research to make it resonate to your audience.

Discuss with your team your packaging design and see how effective it will be to capture and retain your clientele’s attention. You can also test your design vis-à-vis your competitors. Also, look into your income and profit to see how your sales are doing and how your package contributes to the bottom line. Take into consideration the cost of your containers or packet that it will not cause a dent on your pricing.

Short office exercises for busy people

When your day is spent sitting in front of your computer, and the only break you get is attending meetings left and right, your body slacks off, while it absorbs all the tension at work. With so many tasks, responsibilities and people vying for your attention, you may inadvertently skip your gym sessions or never be able to fit exercise in your busy schedule.

The danger this poses is that the pressure of running a business and the lack of activity by your body may lead to certain illnesses or harm to your health. If you can barely leave the confines of your office due to piles of workload, you can try some short exercises within your workstation that can help circulate your blood, ease the strain on your muscles and clear your mind.

You may exercise a part of your body every hour or so, if time and space are limited. Below are some recommended activities for various parts of the body that you can do in your office or work area.

Neck and shoulders

Some exercises you can do are neck stretch, neck twist, head roll, shoulder shrug, and shoulder roll. Bring your head from side to side, whether by stretching your neck or twisting it left to right and vice versa. Do head rolls by putting your chin towards your chest and rolling your head clockwise and counterclockwise. If you have neck pains, you can do shoulder shrugs standing up, with an option to doing it with weights. For shoulder pains, do shoulder rolls forward, down, back, up and reverse direction.

Arms and hands

Spending your time tapping on your keyboard and using your mouse the whole day can cause strain on your arms, wrists and fingers. Hand flaps, arm circles, wrist stretches, hand stretches, water bottle weights, chair dips and chair plank can work out your hands and arms. Shake your hands and arms every now and then. To relieve your hand of discomfort, extend one hand in front of you with the fingers pointing upward and palm facing away. Using the other hand, pull your fingers towards you and hold it for 5 to 10 seconds. Do the same with the other hand

Torso, core and back

Prolonged seating and slouching often lead to back pains and poor posture that constricts nerves and blood vessels. Dong abdominal, long spinal and lower back stretches, chest openers, wall sits, crunches, and waist rotations can help restore alignments and eliminate backaches. One exercise you can perform on your seat is sitting upright with feet firmly flat on the ground and legs spread apart, then slowly bending forward, sliding your hands from your legs to your feet until they touch the floor. With your hands between your feet, press your fingers and your palm flat on the floor (or as far as you can reach) and hold for 30 seconds.

Hips, glutes and feet

Spending a sedentary day bound on your chair can be more damaging than relaxing. It is best that you move your glutes, legs, feet and hips every so often to exercise your muscles in the lower body. Suggested movements include seated hip stretch, inner thigh stretch, leg planks, food drill, chair squats, calf raises and toe raises. Even while working you can simply stand beside your desk or chair and raise your heels while keeping your toes on the floor, which you can do repeatedly.

The better options are to walk around your office, take the stairs, and go outside and walk a block for a few minutes. The best way still is to hit the gym or enrol in a fitness program. You can be focused on your business without sacrificing your health. These small exercises may be the beginning of your road to health and wellness.

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