10 tips in looking after your mental health: Holding on to hope through COVID -19

by Katerina Papamarkou, MAPS

EO Melbourne Resident Psychologist

Since the outbreak of COVID-19 early this year, many of us have experienced a roller coaster of emotions including fear, anxiety, anger, frustration and feelings of sadness and grief. We have watched the constant media coverage and followed the case numbers in Australia and across the globe. For the first few months, we were buoyed as it appeared that Australia had successfully clamped down on COVID-19, and our spirits were lifted as the restrictions began to be relaxed. Unfortunately, this hope was short-lived for Melbournians as a serious outbreak in June quickly spread and we found ourselves back under Stage 3 restrictions. To further control the spread of the virus, tighter Stage 4 restrictions were introduced on the 2nd of August, including a curfew. Victoria’s state-of-emergency declaration has now been extended to Sunday, September 13, in line with the end of the six-week lockdown.

The COVID-19 pandemic has greatly changed the way we live, and the ongoing lockdown has certainly tested the resilience of many of us. As those early days turned into weeks, and weeks turned into months, many people have reported feeling tired and exhausted; ‘lockdown fatigue’ appears to be setting in. As a consultant psychologist, I am hearing common challenges from people across different workplaces. These challenges include loss of motivation, reduced tolerance, difficulty focusing, lack of work/life balance, loneliness, missing friends and family, ongoing struggles with homeschooling, sleeping difficulties and feelings of grief and sadness at the loss of our ‘old life’.

As individuals, whilst we have no control over the virus and the emergency laws applied, it is critical for our mental health that we exercise choice as to how we respond and remain proactive. Being aware of how we are feeling and knowing how to look after our physical and mental wellbeing is an important part of staying healthy during this challenging time.

Ten helpful tips:

1.       Acknowledgment of Emotions (e.g. Anxiety).  Our feelings are often a natural response to our circumstances. For example, anxiety is your body’s natural response to stress. It is a feeling of fear, frustration or apprehension. Given the world is amid a global pandemic, anxiety is a natural and common response; one that is being experienced by many other people around the world. If you see anxiety in itself as being ‘bad’, try to deny it, avoid it, ‘get rid’ of it or overreact to it, your anxiety is likely to get worse. It is important to ‘acknowledge’ and ‘accept’ our feelings. By accepting our reality and our feelings, resisting any impulse to act on those feelings and instead focussing our attention on taking action according to a valued direction, we allow ourselves to move forward and live a meaningful life even during a pandemic.

2.       Mind your Thoughts. When we feel stressed, our thoughts can be negative and unhelpful. Thoughts such as “I cannot deal with this” whilst often triggered by stressful situations are not usually helpful.  Remember, your thoughts are not always true. It is important to challenge negative thoughts (e.g. ask ‘what evidence do I have that I can’t cope’?) or simply recognise when thoughts are negative and unhelpful and bring our attention back to the present moment or our goals.

3.       Remember What’s Important & Take Positive Action. Focus your attention on what you value and care about. We will not get this time back in our lives – it can be helpful to ask ourselves how we would like to spend this time in our life (within the restrictions we have)? Set goals and take action according to your values and goals. Practice being mindful of where your attention is and practice bringing your attention back to the present moment, to your goals and what you can do at the moment.  For example, whenever you recognise you are getting stressed, ask yourself, ‘What do I need to do to help manage this situation?’.

4.       Maintain Physical Health. There is a direct relationship between lifestyle factors of exercise, diet/nutrition and sleeping patterns with our overall health and wellbeing. Whilst the restrictions can make it challenging to maintain a physically active lifestyle, it is critical to make time to look after your physical health and routinely exercise (e.g. taking a daily walk or run). It is also very important to maintain healthy eating habits and to prioritise our sleep.

5.       Get Organised and Maintain Routine. Our emotional health is strongly affected by regular routines, which not only help to get us organised but give us a sense of achievement and accomplishment. A good antidote to stress is to get organised and make plans. Set goals with structure and routine for each day.

6.       Stay Connected. A key strategy for maintaining mental wellbeing is to stay connected and engaged with people. Use technology such as Zoom and FaceTime to connect socially with others.

7.       Do Things you Enjoy. Engaging in activities and hobbies which we enjoy is another key strategy for staying mentally healthy. Making a plan to do fun things regularly gives us something to look forward to. For example, many have taken online lessons to learn to play a musical instrument or to learn a new language; others have taken up woodwork or a home building or gardening project; whilst others have regular online social gatherings or they might enjoy watching a television series or have a regular movie night.

8.       Limit Media. Stay informed but limit or avoid unhelpful media or misinformation. The more we hear about it, the more stressed and anxious we can become. Set a daily limit on the time and frequency of consuming information. Give yourself regular breaks and focus on other things.

9.       Maintain Perspective and Hope. When we are stressed it is easy to catastrophise and see things worse than they are. This time can be an opportunity for reflection and to focus on the positives in our lives.  Have confidence that things will improve and hope that things will get back to normal. It is important to reflect on past outbreaks of infectious diseases in history and remember that ‘this too shall pass’. 

10.    Know When to Seek Help. Given we are in a pandemic, it is common for us all to experience a range of emotions (e.g. frustration, anxiety, sadness, stress). It is important to seek professional assistance if our reactions/symptoms are: (i) severe (ii) present for an extended period or happen too often and/or (iii) impacting our lives. 

EO has engaged Ariston Consulting Solutions to provide counselling support to its members during this difficult time. Please do not hesitate to contact me if you wish to make an appointment or have any questions.

Katerina Papamarkou MAPS Psychologist Ariston Consulting Solutions E: katerina@ariston.net.au M: 0438 117 137

Celebrating small successes to motivate your team - our members share their experiences

It often takes a lot of hard work to get your staff and team members to be passionate and driven in their jobs. There are great advantages and satisfaction when your team are motivated and inspired by what they do as this contribute to the overall culture of your organisation. One way to fuel their zeal and keep them happy at work is to celebrate small wins with them, as some of these entrepreneurs have come to recognise its importance.

Recognising individual works and team efforts

“In our current COVID situation, celebrating small successes in business is high on the agenda of our business leaders. Business is tough at present, and what we determined as success previously has probably changed somewhat now. The little wins that we glossed over before have now taken on greater importance and acknowledgement amongst our teams to boost morale and build up momentum again to achieve the bigger targets,” shared Gary Lorden, Director at Monitor Consulting.

With a team of around 50 internal staff members, Gary noted that “we have people that are coping better than others to our change in workplace and ability to fulfil roles and duties, particularly in Sales positions. Communicating the ‘wins’ and acknowledging the work of individuals amongst the team has been a big focus.”

They have three team Zoom meetings a week for each state and division where they have a presence. At the start of the day, everyone has a couple of minutes to talk about their commitments for the coming days and their achievements since the last catch-up. “By completing key business activities that the individual highlights, we have found this to be a good way to celebrate the small wins, and build business momentum,” he stated.    

On Friday afternoons, there is a final catch-up for the week on Zoom for each State, where everyone brings their drink of choice and a roundup on individual successes are acknowledged. “Everyone takes a turn to highlight their wins no matter how big or small. The final Friday of the month is a ‘monthly wrap’ where everyone gets a turn on the virtual spin-the-wheel competition for prizes. Staff will get awarded with points throughout the month for key activities completed. And with more points, the more spins they get.”

They also have Quarterly Awards, nominated by the staff themselves, which align with their company values. “We believe peer acknowledgement is probably our most powerful form of positive feedback amongst our team,” he added.

However, Gary admits, “we have had our ups and down with team culture and it never stays constant, particularly in these times. How we acknowledge the small wins will no doubt need to be refined even further as we get into stage 4 lockdowns in the coming weeks.”   

Learning from good results as well as not-so-good jobs

BNR Partners Director – Franchise & Business Services Jason Bertalli conceded that up until about a year ago, they had not celebrated much of their wins. “During that time, I neglected the team in this regard. We would get caught up in the doing, and once completing a job or project, we simply barged headlong into the next. After a discussion at a forum one day, I decided to change it up a gear.” 

With offices in several cities in Australia and several teams handling many clients and specialising in estate taxation, business accounting and financial services, there is a need to keep everyone on the same pace and direction, which is no easy feat.

To achieve this, Jason shared the changes they have to institute in their internal environment. “We implemented a daily stand-up to both keep up to date on what jobs were happening and also recognise what we had done well recently.”

It kept everyone on the loop of what’s going on throughout the organisation as well as made them feel good with their achievements. Moreover, the interaction made them learn from one another, both the best practices and the missteps that happened. “This leads to a monthly team lunch where we similarly acknowledge the good results and the potential lessons from not-so-good jobs. The change in camaraderie and bonding of the team since this implementation has been hugely positive. Buy them lunch, it's worth it!” Jason avowed.

Leading your team through difficulties

There is no doubt that the current pandemic has affected many business and lives, putting a huge dent on the economy worldwide. “For us, to keep fighting our way through, we have to be very agile, we need to always be listening to the market. We've got to be thinking long-term whilst also watching what's happening in the short-term, always keeping our eyes at the horizon whilst still keeping a very, very close range of what's happening in the here and now. I think that's also important for our teams as well because, as a leader, it's our responsibility to lead our people and our teams through that,” HungryHungry Co-founder Mark Calabro remarked.

The pandemic has brought many realisations to Mark. “Firstly, I used to think I was busy. It now has a whole new definition, especially in a startup which has doubled the team size in three months and just secured funding. I have learnt more about what being a leader means and also new skills to manage people in a time where things are not stable. Team members over-worked and overwhelmed whilst isolated at home has been a real struggle to navigate through.”

But what the current challenges have taught him is one thing – resilience. “I think you keep reaching that ‘next level’ in your life or journey, and I have certainly hit more of these in the last few months than I have in many years leading up to the present. I am fortunate to have a business which is in real need right now. We have gone from losing 6-figures a month to break even, before going on a hiring spree for growth,” he said.

Surviving the crisis is already a win for him. But more than that, what keeps him and his team motivated is the sense of purpose in what they do. “We've had to pivot on some instances through COVID, and we're in another lockdown here in Melbourne. But what's next for us is that we see a broader opportunity in the marketplace to create something for business owners as well as consumers by leveraging the data and technology that we have. So, how do we pair up consumers and fit them into places that they’re going to love and vice versa for business owners to be able to engage and communicate and attract more people to come to their stores? It’s around search and discovery and about personalisation and relevancy of food. We firmly believe that every meal should be an amazing meal. We have the vision to create a world where people live to eat. We just think that every meal should be a memorable meal for a good reason.”

Reaching out to communicate and serve your people better

Tristan White, Founder and CEO of The Physio Co, believes that the best way to celebrate small successes is to celebrate them when “in” the moment. He cites one example that happened recently.

“We're all working from home at the moment like many people are, so it’s very difficult to see people and to celebrate things because we're in different places. Because of that, I've got a regular rhythm of calling one or two of our clients every Monday and asking them what's working, what's not working and how we can keep serving them better and improving our services. This morning, I did that and spoke to a client,” he narrated.

The client was very happy with the physiotherapy that a member of Tristan’s team, his name is Daniel, is doing. “She scored the service that we're providing to her mum with a 9 or 10 out of 10, which I was excited about,” Tristan disclosed.

Right after that call, Tristan shared the good news to Daniel to celebrate it with him and celebrate it as quickly as he possibly could. In return, Daniel replied, “Tristan, thanks so much for taking the time to call me. I feel much more connected to the team and also to the work we're doing. I feel supported by having these regular calls and regular check-ins.”

Tristan found great value in that scenario. “I think it’s important, especially when things are changing. For example, in Melbourne, we've gone from stage two to stage three of lockdown, and then now we're in stage four. It's very easy for us leaders to be very reactive around what do we, which usually have to do from a legal and a health perspective. If we're not careful, we won’t be able to prioritise the checking in on a personal and human level with our team members. We can become very reactive and only call people when there's a problem as opposed to calling them to support them and to find out how we can help serve them better,” he pointed out.

“We work hard for the leaders of our teams to make sure that we're checking in with our team members not only about what's working or going on professionally but also how they're coping, how they're surviving, and how they're dealing with a challenging time personally. We encourage our leaders to be vulnerable and to share how they are feeling, as well as to ask, support and get involved respectfully with our team members. Also, if we notice something that's not quite right and we know there's a challenge in that person's life, we do our best to support them by allowing them to have a bit more personal time or sending something or a little gift to recognise their tough time and help them make their job easier,” Tristan recounted.

Establish your support system

Supporting your team members is crucial at this stage when everyone is affected by the global crisis. Take note of every positive thing and celebrate the wins in your organisation, big or small. Acknowledge the significance of each person in your team and show you care for them.

If you have a similar experience or if you have other insights on this topic, please feel free to leave us a comment below.

We asked the question: As an entrepreneur, how do you practice diversity and inclusion in the workplace?

Having a diverse workforce and ensuring the inclusion of everyone within an organisation – regardless of race, gender or beliefs – help grow a company’s corporate culture, enhance one’s competitive edge and contribute to its bottom line. Entrepreneurs share their experience and tips on how they uphold diversity and inclusion in the workplace.

“Throughout my journey as an entrepreneur and even as an individual, I have been very fortunate to meet people from diverse backgrounds who helped me get to where I am now. I believe diversity and inclusion occur when different people from different experiences come together with their shared stories and talents to work collaboratively.”

- Anou Khanijou, Director of IFOTA Group and Managing Director of anouconcept

Anou believes that practising diversity and inclusion in the workplace is essential for a thriving business. “It encourages innovation, creativity and a sense of belonging and purpose. In my companies – IFOTA, a uniform wholesaler, and anouconcept, a PR and marketing firm – we have team members from diverse backgrounds. We have a work culture that embraces diversity and promotes equality. Culture may seem amorphous and vague, but to us, it means concrete actions in the workplace. These include, for example, having both men and women in leadership or management roles, hiring people from a variety of backgrounds, asking team members to contribute ideas, and respecting those ideas by turning them into action. Even simple activities like shared lunches from different cultural backgrounds and joint birthday celebrations are ways in which we promote unity in diversity,” Anou cited.

“I work with a lot of creative minds and being inclusive means acknowledging their skills, giving them the freedom to be innovative and to make suggestions, and allowing them to be themselves at work. Promoting diversity and inclusion also involves having the right attitude towards challenges and mistakes. We need to recognise that not everybody has the same experience and lessons in life. I got to where I am today because I learned from my failures and I was given second and third chances. My team deserves the same, and I see mistakes as learning opportunities,” she continued.

Recognising the value in people’s diverse experiences and backgrounds, Anou mentioned three tips to effectively promote diversity and inclusion in the workplace:

• Know your staff and know them well. Know what they have to offer and encourage them to participate based on their unique skills and needs.

• Be open to learning. Listen and learn from and together with others.

• Practice what you preach and set an example. By doing so, you create an empowering work environment where your team members trust you and want to collaborate with you.

“Diversity and inclusion have become - and rightfully so - one of the hottest topics across corporations in recent times. At Sharp & Carter, our guiding pillars are Trust, Generosity, Care and Humility.”

- Anthony Holdstock, Partner at Sharp & Carter

Sharp & Carter is more than just another recruitment agency. It is a team of individuals who aspire to change the way the recruitment industry is perceived and who believe that success can be achieved by putting people’s interests first.

“As such, we work with several blue-chip listed companies and many corporate responsible organisations to try and achieve better diversity and inclusion, not only in our workplace but also in theirs,” Anthony avowed.

“Guided by our pillars and values, our leadership group developed a set of non-negotiable behaviours that we, as leaders, must always uphold and remain constantly accountable to. This, in turn, has resulted in a culture of inclusion where employees feel safe to be themselves, and safe in the knowledge that if they come to us with any issue or concern, we will always respond from a place of these four values. Ensuring that we at ‘the top’ always act in this manner assists in growing a culture whereby every staff member follows the lead and checks themselves against these values in their interactions,” he professed.

Anthony also pointed out interesting aspects of promoting diversity in an organisation. “For example, language and communication in writing advertisements are important to attract a diverse range of candidates. Using phrases like ‘up and coming’ can promote ageism, while unconscious bias terms such as ‘strong foundation’ are found to attract more male candidates, whereas phrases like ‘multi-faceted’ will attract more interest from females.” 

He has a few pointers for those who want to develop diversity and inclusion in their respective businesses:

• Awareness is the first step. For those looking to become more aware, there is an excellent book called “The Art of Thinking Clearly”. This book explains about biases and talks about eliminating bias to make better decisions.

• Culture eats strategy for breakfast. Having the right people on the bus, people who genuinely care about making the workplace the best it can be is key. It starts from the top and cascades to the rest of the team. If this is pushed through the organisation and all the people and all the leaders believe in it then it will be driven through. If this breaks down and only happens in pockets you have the wrong people on the bus.

• Assess, review and challenge. The best leaders self-assess and are constantly striving for improvement. Better habits more consistently lead to better outcomes. 

“For us, the key to inclusion is to ensure that we appreciate the differences in each other while bringing everyone back to our core values in the business so that we’re all on the same page, looking to achieve the same core goals within the business.” 

- Nyree Hibberd, CEO of Koh Living

“In terms of diversity, at Koh Living, both myself and my business partner, Tui Cordemans, are out and proud gay! I remember 15 years ago when we were first hiring staff, we would routinely ask if they had an issue working with people that we're gay.  Today, it’s absurd to think that we even asked those questions, and we’re grateful for our growth and changes in society to not see ourselves as different at all,” Nyree shared.

Having a joint purpose, no matter what their role in the business, has always kept Nyree and Tui on track. “We focus on the things we have in common, not the things we have that are different,” she stated.

Because human connections and relationships are at the heart of their business, ‘Making people feel important’ is one of their corporate values where they promote and practise respect and responsibility. Whether it’s a customer, supplier or service provider, everyone is important at Koh Living.

With that, Nyree shares a few tips to those who want to advance diversity and inclusion in their teams:

• Be aware of the diversity within your teams, especially if there are any staff that are sensitive to particular things.

• Ensure that there is no room for sarcasm and putting down. In my experience, Australians can be rather cruel with jokes without being directly nasty – so in our warehousing environment where there was a lot of casual staff, we make it clear what is and isn’t acceptable.

• Ensure each team member understands the important role they play in the overall goal of the business. We do this quarterly, having a quarter goal, and weekly. We check with each person their high priority activities for the week to help the business achieve its quarter goal. We find that it makes everyone feel they are on the same team, and there is little room for not feeling included when you’re part of the big picture.

“I firmly believe that a culture of diversity and inclusion in the workplace starts with the leadership team. We have assembled a leadership team from unique and diverse backgrounds who have different experiences and views on the world.”

- Costa Vasili, CEO and Founder of EthnoLink

Highlighting leadership as a significant part in diversity and inclusion in an organisation, Costa elucidated that “By starting from the top down, this culture developed in the leadership permeates through the rest of the company, helping to foster the diverse and inclusive culture that we want for the entire company.”

As one of Australia’s leading providers of professional translation services to corporate and government organisations, EthnoLink Language Services caters to clients with diverse composition or those that reach out to multi-lingual stakeholders with different backgrounds. Thus, diversity and inclusion are prevailing in Ethnolink’s internal and surrounding environments.

Costa then shares his tips for those who want to be better in this area of their business:

• Be real and honest with yourself about how your company is performing on diversity and inclusion. It's a typical response to be defensive and thinks that everything is fine in your company, but if you want to make meaningful change, you need to be completely real with where you're currently at.

• Take on the mindset of "the standard you walk past is the standard you accept". If you see or hear something that doesn't align with your company's endeavours to foster a diverse and inclusive culture, call it out and seek to educate.

• When advertising for positions with your company, let potential applicants know that you are a diverse and inclusive workplace and that you encourage people from unique and diverse backgrounds to apply. Each of our job ads has a statement to that effect which can help improve the talent pool that you source new talent from.

Now, you can take these pieces of advice to your business and see how you can apply them to ensure you have a diverse workforce and inclusive organisation. Share with us your experience by leaving a comment below or sending us your story at communications@eomelbourne.org.

EO Melbourne members share their secret recipes for Social Media Success

With billions of people worldwide using the internet and social media for their day-to-day activities, it is no question as to why many companies and brands turn to social networks to engage their customers and target market. The big question is how to do it successfully?

Robert Tadros, CEO of Impressive Digital:

LinkedIn, Facebook and Instagram

“Our approach is multi-faceted,” Robert stated. “Generally, we’ll pick a content vertical that we’re focusing on for the month. Then we ensure that our website content, such as pillar pages, subcategory pages and blogs, is up-to-date before we map out the various posts across our channels to support this vertical. This provides social signals for SEO performance.”

The key thing that Robert points out is to have different posts for different social networks. He explains, “We tailor our content in each platform. LinkedIn has previously been geared towards recruitment for us, but we’re now experimenting with curating a marketing industry newsfeed, while Facebook will be geared towards knowledge and results, and Instagram for recruitment and in-the-moment content.”

He also acknowledged that for the majority of platforms, exposure is difficult to achieve without amplification. “We do this if it’s beneficial to our campaigns. Otherwise, we don’t underestimate the value of our team’s personal and professional networks. You’ll frequently see posts shared by Impressive staff, which highlights that our true value as a company is collaboration.”

Hannah Vasicek, Founder and Director of Francesca Collections:

Facebook, Pinterest and Instagram

As a retail brand with mortar-and-brick stores and an online shop, Francesca Collections has to constantly reach out to their current and prospective customers to let them know of latest and available designs as well as updates and other offers. Hannah and her team use social media as one of the tools to communicate and build relationships with their clientele and keep the public informed of their products and services.

She finds that engagement is key to get the audience interested in the brand. “Currently, we plan our posts based on engaging educational content leading onto a 'sell'. We have found that by communicating to our audience by asking them a question like 'which product do you like better' really gets engagement up! Our audience loves being involved and it also provides social proof.,” she expressed.

Hannah cites planning well as an important factor in social media success. It includes coming up with creative content and implementing it with the right timing. “We plan a week ahead of time and schedule all of our posts,” she said.

While they generate content on various social media platforms and grow their audience organically, they also place advertisements on Facebook to boost their reach and visibility, which often help convert readers into buyers. “Facebook ads remain our highest return on investment,” she declared.

Nathan Chan, CEO and Publisher of Foundr:

Facebook, Instagram and YouTube

Creating and generating regular content for its magazine, podcast and website, Foundr has developed and continues to develop a wide audience and astonishing reach through social media. With over 2.4 million followers on Instagram, more than 840,000 followers on Facebook, and 101,000 plus subscribers on YouTube, it seems that Foundr has found the key on how to reach out to more users.

“We plan our social posts by having a social schedule working 4-6 weeks in advance. The method we use is providing quality content on a consistent basis at scale. We promote articles, videos and quotes or infographics. Our method is very effective,” Nathan declared.

For Facebook, they invest in it by putting out ads on this platform. “We spend millions of dollars every year to build the reach of our brand and acquire new customers profitability,” he substantiated.

On the other hand, it is organic audience-building for their Instagram account. “We have one of the largest Instagram accounts in our niche. This allows us to build top of funnel awareness for our brand, as well as provide value, educate our audience with engaging content and sell Foundr products.”

Similarly, their YouTube reach is organic. “What we do is we produce many videos for community to build trust, develop top of funnel awareness and sell Foundr products. We’ve found that video is a very powerful tool to build a relationship with our audience versus other mediums,” Nathan shared.

Tom Caw, Founder and Director of Untitled Group Australia:

Facebook, Instagram, YouTube

Untitled Group is a Melbourne-based collective that produces a variety of unique festivals, tours and events within Australia and abroad. Taking an innovative approach on how they do things, they also make the most of social media in reaching out to their audiences in promoting their events, artists and music.

According to Tom, “Our social media posts are planned around previous posts by reviewing how effective they were. For example, we look out for posts that performed well and then try and replicate that style of content or copy in future posts. If you try a new style of post or content or copy and you notice it is not performing well, it is important to recognise this immediately and adjust your strategy.”

Tom finds this method effective but recognises that other factors can affect the reach and engagement. “These factors can be the time of the day it is posted, day of the week it is posted or something happening in the community that day like a major announcement that will overshadow your post.  Also, do you usually put money on your posts or do you let them go organically? There are a lot of factors that need to be considered when strategising, planning and reviewing your social media posts,” he quipped.

How about you? What social media platforms do you use for your business? Comment below your experience.

Looking to expand and take your business to new territories?

EO Melbourne members share their business expansion experiences and tips.

When treading on unfamiliar environments, you will need all the guides and pointers you can find to steer your business in the right direction. Entrepreneurs from EO Melbourne share their respective journeys along with a few tips on how to expand one’s business to new territories.

AARON SMITH, KX PILATES

Now with his brand present in Australia and Asia, Aaron Smith, Founder of KX Pilates, had to surpass the hardships of starting and growing a business. “I opened KX Pilates in Melbourne in February 2010. With 10 studios under our belt and a team in place to continue the growth in Melbourne, my wife Andi and I decided we would move to Sydney for two years to open and run the first flagship studio in Surry Hills,” Aaron recounted.

They researched on their competitors, studied the demographics of their market, and assessed their studio accessibility. Along with that, they matched as much as they could their Melbourne business. “It was an incredibly hard slog, but after 6-12 months, we saw huge success,” Aaron professed. It also helped that two of their best owners/trainers moved to Sydney with them to take on the other best locations available.

Aaron attributes the success of their expansion to PEOPLE. “The culture of the business also came with us. The brand has seen success in all other major Australian cities with the assistance of our Melbourne or Sydney-based trainers, moving to those places long-term.” On the international front, the same happened as they opened in Jakarta, Indonesia in 2018 with an incredible business partner, which they hope to replicate in China at the end of the year.

Aaron’s tips to those expanding to a new environtment are:

• Do your research and grow in one place properly first. So many businesses just 'assume' that because their business has worked in one city/state or even country, it will work everywhere. This couldn't be further from the truth. Test out the market first, do you research on similar competitors in your space and start lean and build from there. 

• Drop the ego. Yes, it's great to say you are now in multiple cities, states or countries. But if you can continue to focus and grow your business in one place first, then do it. Fewer businesses in more locations is a recipe for disaster if you are not prepared. Higher expenses with travel and being farther away to manage your team will make running your day-to-day business tougher. Business is hard enough, so why make it harder if you don't have to?

• Find the right people with the right brand fit and local cultural experience. You need to be able to trust them that they will do right by you and the brand. Our strategy is not just about putting dots on the map. It's about opening in a new country with the right person who will grow your brand in that place the way you want it to be done. 

DION CASTLE, STRUBER

Expanding in various states of Australia is doable, although it’s not a walk in the park as Struber CEO Dion Castle explains how they enter new territories. “We've gone into three states and then doing the fourth and the fifth state at the moment. Each state is on a different level of a journey.”

Working primarily with governments and large enterprises, Dion admits that there’s a lot of high barriers to entry. Recognising this reality, they use data to understand the market and time their entry effectively. Once they have looked into the data, they conduct in-depth stakeholder analysis and assess what is required of them, particularly in terms of skills and talent. At the same time, they think of the branding and marketing elements needed in their work, as well as do lead generation and build their databases. Also, they focus on providing value to the industry, looking after the long-term interests of their clients.

“That's the early stages,” Dion remarked. “Once you're able to move through that, the next phase is about maintaining relevancy to your customers in the new markets. It’s continuing the same level of energy when you entered the market and sustaining that over time, showing that you are an active participant in the geographic region and finding ways to continue to support the agenda of the enterprise or the government and the community at large. Also, you continue to expand the talent locally step-by-step, ensuring that you've got the right team members to be custodians of what your company stands for. These are people who can continue the founder-led philosophies that made your company great in the first instance and continue on that legacy further afield.” 

Going through all these activities in expanding his business, Dion shares some of the key learnings that he gathered from his journey. These are his guiding thoughts on expansion or entering into new markets, which requires people to do their homework, do their research upfront and make sure that they have the right pieces to support that:

• ‘Go slow to go fast’ and ‘ measure twice to cut once’. Doing data analysis and looking at your timing and your activity, try not to make rash decisions, particularly around talent that join your organization. Talent needs to join for the right reasons and at the right time and any rash decisions on talent will inevitably lead to churn and turnover. In our game, we need to make sure that the talent matches or is above and beyond the expectations of our customer base. Finding the right talent can take time, and you have to be okay with the fact that it takes time.

• Note that investing in your geography will cost you two to three times more than what you planned or anticipated for it to cost. Even with your best projections, it will cost two to three times more and will take two to three times longer to do it right. If you think you can get away with it at a cheap budgetary expenditure level, it will still cost you a lot more because you'll have to pay for the learnings through the journey. And there's a lot of learnings that you will undergo during an expansion.

• Make sure that you have an incredible supportive leadership and start to build that early. You need to try and identify as early as you can who will be the custodians in your new location to be able to carry the legacy forward. Leadership is something that takes the longest amount to build. However, you can purchase leadership but you can't purchase loyalty. You have to work to build loyalty over some time.

• While you're going through this journey, you need to measure to get better. You need to constantly measure your performance against your objectives of entering the new state or region. It includes tracking your performance in the short intervals using reports and data that you collect to be able to show patterns and behaviours on how you're performing in your expansion efforts.

• Don't be afraid to turn on and invest more or wind down a region based on the information that you get. Such information can be gathered not only from internal sources but also external sources in the economy, such as changes within the macroeconomic context. From there, you can adjust your strategy accordingly. At the very worst, have an exit plan. But in the markets that we operate in, it's a calculated investment, so an exit is only a very last resort, but would likely come back with a return mission in the future.

JOHN BEVITT, HONEYCOMB

Honeycomb, an innovative market research and customer insights agency, have consultants in Melbourne & Sydney, servicing clients Australia-wide. John Bevitt, Managing Director of Honeycomb, has a few tips for businesses that are considering to add a new product in their offer or to expand to new territory, whether it’s a geographical market or another industry:

• Get to know your potential customer and make sure you’re solving genuine problems. Many times, a client has come to us with a product or service they are developing on the hunt for a potential customer or market to buy it.  The most innovative products and services are those solving genuine problems. A lot of the research that we do helps businesses identify and develop these solutions by understanding the customer journey and their mindset, attitudes and pain points experienced throughout it. Start by talking to a few of your potential customers and identify patterns. From there, do a short survey with a larger group of prospects to validate these patterns and ensure they’re representative of the broader market.

• Communicate clearly and stop trying to sound fancier than you are. We have found that we get the strongest response and greatest uptake when we demystify what we do for clients. By focusing on the outcomes and benefits of the service we provide, clients are given certainty around what needs to be done and why, as well as confidence in their ability to explain this to stakeholders. The temptation that commonly occurs is to package up a solution and put a fancy name on it with limited context behind how it works or what value it provides. While this can generate intrigue, it also creates a lot of resistance as clients find it difficult to understand or explain to their stakeholders.

• For B2B Businesses, make sure you’re also delivering value to the human aspect, not just to the ‘client’ or business. When asked who my clients are, I usually respond, ‘Brand X’ and ‘Brand Y’, not Joe from Marketing or Monica from Product. As such, it can become a bad habit instead of adding value to the businesses you work with and the people in them. During COVID-19, a lot of our clients were fearful or uncertain. To help them, we brought them together and hosted virtual forums to share their experiences, strengthen their networks in the industry and validate what they were doing against each other. The sole agenda was to give the people we work with an ounce of certainty and confidence about the future and how to plan for it.  

Taking into account these entrepreneurs’ experience and learnings in their expansion journey, they can be your compass and guidebook for business growth as you embark on what you may consider as your uncharted territories. It is better to equip yourself as you take your first step on unfamiliar environments rather than take the plunge without much preparation.

If you have an expansion experience or story to share, send us a message at communications@eomelbourne.org or drop us a note at the comments section below.

Can changing your morning routine make you a better entrepreneur? Here are some real-life experience shares.

Morning routines can set the stage at how the day will unfold. Over the years our EO Melbourne chapter had the opportunity to learn in first person about the routines that successful business icons such as Warren Rustand use to start their day. Many of them claimed to be critical for their success.

Some say that you start your day right by taking care of your mind and body and doing something that will increase your productivity and boost your energy. Experts claim that having a rhythm as soon as you wake up in the morning may be beneficial to your physical and mental health.

Even for busy people like CEOs and business owners, an effective morning routine help them get through the rigours of work and other responsibilities. Highly successful people often attribute their good performance to their positive morning habits that enable them to start their day strong. With this in mind, let’s take a look at some morning routine changes our EO entrepreneurs made to get them going through the day, given their demanding schedules and tremendous workloads.

(Left to right) Salt & Fuessel Director Gabriel Esseesse, Torii Consulting Director Joe Woodham, Work Healthy Australia Managing Director and Founder James Murray, and Banjo Executive Director & Co-founder Andrew Colliver share the morning routines that work effectively for them, helping them face their day and tackle the things ahead of them with energy and focus.

Salt & Fuessel Director Gabriel Esseesse narrates the shift he did in his morning habit. Looking back at his old morning routine, it was rolling out of the bed after hitting the snooze button at least thrice, checking his emails, getting already annoyed by them, grabbing whatever breakfast he could find from the pantry, getting the kids ready for school or childcare and dropping them off.

“As you can imagine, my mood was already set for the day. A few years ago, I had to change that. Then my evenings finished quite earlier than the usual and I stopped eating sugar. Now, I can get up from bed without being torture. I also wake up earlier, and straight after brushing my teeth, I do weight exercise at home for 30 to 40 minutes. After completing that, I would have my oats or smoothie or toast and get ready to kick off the day,” Gabriel narrates. Starting his mornings like this, he regards it as already a win in his day.

Another thing he altered in his morning routine is cancelling out any news or radio. Rather, he would get to work listening to an audiobook or calling someone. Gabriel acknowledges that he may not be able to control everything that happens throughout the day, but he can at least control certain things like his morning routine, which allows him to have more energy to tackle all the things in front of him.

In the case of Joe Woodham, Director of Torii Consulting, he had many iterations to his morning procedure over the years. “I didn't just wake up one day and decide this is what I will do; I spent time adding to my routine and working out what worked for me until I had something I could stick to,” he revealed.

Joe admits that finding extra time in the day has always been a challenge for him. With a growing family and business, it seems that things only get tougher as they go by. “Over the last few years, I have found the only way for me to focus on myself with uninterrupted time truly is to swap later nights for earlier mornings,” he declares.

In the process of pinning down the right routine that worked for him, Joe read countless books and articles and attended events of successful entrepreneurs who had found ways to get the right balance between self, business and family. “In a lot of cases, it came back to having a successful morning routine,” Joe realised.

His current routine is waking up at 5:45 am, then going to the gym for 45 minutes, followed by a 20-minute meditation and 10-minute journaling. According to Joe, “Even under the current COVID restrictions, I have tried to keep my routine unchanged as I notice the difference when I don't. However, when I find that working out in my lounge room isn't so much fun I will swap out some days for studying, such as learning Japanese.”

Similarly, the morning custom of James Murray, Managing Director and Founder of Work Healthy Australia, has changed a lot for the last two years. “For me, the morning is the time that I have that’s just for me because with work and family, anything after 8 o'clock, I don't have control over that time. So, I get up a lot earlier than I used to. Now, I wake up before 6:00 am and then do the things that get myself ready for the day,” he explained.

The first thing James does is to meditate for 20 minutes. “By meditating in the morning, it allows me to learn a lot more about myself emotionally and know what my emotional triggers are. It’s very, very helpful just to keep me calm,” James stated.

After that, he does his exercise, which includes cardiovascular activities like doing 10 kilometres on the rowing machine, along with 10 minutes of yoga and some weightlifting. He pointed out, “When you exercise in the morning, you have to consider your strength, flexibility, mobility, balance and coordination.” He also uses a lung training device, called airofit, which he finds a good addition to his morning routine. Before, he would just do one thing, such as go for a walk, for example, or only lift weights. “What would happen was I would find myself into a rut. By building a stronger routine, I'm able to be more holistic in the way that I approach my mornings,” he explained.

Other things that James follow during the morning is avoiding his phone while working out. He also feeds the dogs, which he loves doing. “I also do my lemon juice in hot water and I drink a litre of water in the morning because sometimes during the day, I'm not so great at drinking a lot of water. I've had to add all these things in over the years,” he quipped. With his present morning routine, James finds it effective as it allows him to focus on work, increasing his concentration and energy levels.

For quite some time, Banjo Executive Director & Co-founder Andrew Colliver has been following Dutch athlete Wim Hof, a.k.a. “The Iceman”, who has 21 Guinness World Records, including climbing Mt. Everest in short pants and swimming under the ice for 66 metres. Inspired by Wim’s method of exercising and prompted by the lack of energy in the mornings, Andrew decided to change his morning routine at the beginning of 2020 by incorporating cold therapy and breathing.

“Every morning at 7:45 am, a small group of friends enter my pool for 10 minutes of cold water immersion. The temperature is 11 degrees, and we follow the immersion with an outdoor cold shower. In 2020, I have had three warm showers, and we have not missed a morning,” shared Andrew.

The results are magnificent as the benefits have been extremely noticeable for him, giving him clarity of mind and energy throughout the day. For Andrew, “It is a mood booster, and I sleep so well. It has helped my business by facilitating heightened energy and positiveness as well as building a higher resilience level. Every morning, my mind tells me the research is flawed and it is crazy to jump in a cold pool on 2-degree mornings. I love the challenge of overcoming the thought patterns and executing them. I also love the challenge of overcoming the pain and stress of the cold water immersion though ‘acceptance’. It soon becomes a very pleasant and rewarding experience, which is counter-intuitive.”

It pays to try various things and come up with a morning routine that works best for your mind and body. The important thing is that the first thing you do during the day will help you build strength and vitality, as well as develop discipline and focus, which can lead to a productive day at work. With such effective routines, you will find more energy to power you up towards your goals and closer to achieving success in life and business.

Have a morning routine story to share? Please do so by sending us your story at communications@eomelbourne.org or via the comments section below.

President's Update - July

From the President

Dear EO Melbourne,

Apocalypse!

If you tuned into our End-of-Year Gala celebration a month ago, you would have heard me start my welcome speech with this bizarre word. In all honesty, I knew I had a tough job on my hands to grab your attention as the celebration was held virtually for the first time in EO Melbourne history. I hoped it worked.

The point I wanted to get across was that, yes, 2020 has been a challenging year for many of us. Every month that goes by feels as though we’ve graduated to the next level of Jumanji. 

The usual problems that get thrown our way have morphed into something we never imagined we would ever have to deal with. 

This is where the magic of EO presents itself. As a global community, we have the power at our fingertips to connect with another member and resources to figure out how to overcome them. We can also take some solace in knowing that we are not alone in this.

It’s been one hell of a rollercoaster, and as we are now in our second lockdown, what the future holds continues to be clear as mud. But in times of adversity, we all know that this is the time that we, as entrepreneurs, need to demonstrate resilience and rise to lead our teams forward. 

We need to remind ourselves that our businesses were founded on hope. We all started with a seedling of an idea, and it was through our optimism, hard work, creativity and hope that it was able to grow into something bigger than ourselves.

On that note, I leave you with our theme for the year, Lead with Hope.

It is with great honour and privilege that I serve as President for EO Melbourne 2020/21. Standing alongside my fellow Board Members, I’m excited about the ideas that we’re working on to make the EO year ahead into a memorable one - for the right reasons! Our chapter is strong, the engagement (the only giant WhatsApp group I have unmuted) and solidarity are out of this world.

Reach out to any of us on the Board at any time, we’re here for you.

Warmest regards, 

Sheryl Thai 
President 2020/2021

Ways of streamlining your business

As your business grows, you will find that tasks increase, files pile up, materials (and dust) gather and more things need your attention. Some items take longer to turn around, need several documents and require to deal with a lot of people. When work gets more complicated and unproductive, maybe it’s time to review your business and see where you need to streamline and simplify things.

Streamlining items and systems means you declutter objects and remove unnecessary steps so that you can cut down on wastage and use resources wisely. You can use modern technology and techniques to make your organisation more efficient than before. How to do that? Take a look at a few suggestions on how to simplify different aspects of your business, whether they are physical objects or processes.

Focus on your core products and services

When you try to expand your business, the temptation to do many other things that may no longer be part of your core products or services is high. Instead of doing so many things within your business, it is better to separate them into different ventures and let each focus on its strong components. Pay more attention to the quality over quantity of work you do. Eliminate factors that are not essential to your business but take a lot of time, resources, and energy from you and your team.

Outsource certain tasks

For you to be able to focus on the core of your business, outsource the components that are not your expertise. Which part of your business can you farm out to experts? Is it design, finance, IT, engineering, PR, marketing or delivery? Outsourcing allows you to have lesser things to think about, do what you’re best at, and reduce cost. 

Take out unnecessary steps in processes

From hiring to finance to procurement to operations to generating reports, review if there are steps that are not very essential to the processes within your enterprise. Go through your workflow and check the gaps and bumps that may hinder more than help accomplish a particular task. If you need checks and balances, you can put in systems that will enable you to monitor and generate reports without having to go through extra steps and assign too many people.

Remove redundancies

Check for any redundant positions, tasks, items, or machines. There may be too many forms to fill out. While back-ups are necessary, you can always come up with techniques and strategies to do this without adding another layer in your process or extra task to do to get work done. See if there are any overlap of roles and work. The leaner and simpler things are, the easier and more efficient you accomplish your goals.

Shift to electronic copies

Do you have piles of paper stacked on your desk? Is it difficult to find an important document among the folders kept on your shelf? Shift to electronic copies and cut down on paper usage. This way, you not only minimise your expenses but you also help save the planet. Be sure to have a system on how you organise files to make it easy to find. When it comes to streamlining, also review your physical space if it is conducive for work or if there is too much clutter that sometimes affects the way people do their job.

Automate your systems

Take advantage of modern technology and see the available software in the market that can help you in your business. You can consult an expert to check which part of your venture you can automate and make things faster and more efficient. Focus on the portion where you spend more time and workforce so you can ease the flow of processes.

Reduce delays

Maybe there are things where you can communicate online or electronically so that you don’t need to spend more time on the road or be physically present in meetings. If you can make things faster or lessen the amount of time you need to spend on menial tasks, find ways to reduce delays. Cut down on your travel time and do meetings more efficiently.

When you have streamlined your business, review it from time to time so that you can adjust and refine the changes you have instituted. No need to complicate things when you can do them more simply. In the end, you can even be more productive while saving some of your energy and resources.

How to do a proper handover and transition at work

People exiting an organisation is a common occurrence in every business. There are plenty of reasons why staff members leave the company. Whatever is the circumstance behind an employee departing, the changing of employees is something that every entrepreneur should prepare for to ensure that there are no gaps in-between periods of a team member leaving and a new one coming in.

A common scenario is to secure a short overlap of time where new and old staff can work together. However there are many times when the outgoing staff member has already ended their service while the incoming person has not yet begun working in the company. Whichever circumstance you have in your business, it is best to assign a person, such as an HR staff or team leader or office manager, to oversee that proper turnover is done by the exiting employee.

Below are a few pointers to facilitate a smooth transition of work so that nothing is left unattended when someone leaves your team.

Have a turnover meeting

It may take a single meeting with the outgoing staff member or a series of meetings to discuss the transition and handing over of tasks. Let the employee give you an overview of the day-to-day activities of the position the person is holding, incomplete tasks, and other pertinent information you may need to continue where the member has left off. If a new person is already reporting, sit together with both of them so that you can all discuss pending matters that the departing person will be leaving behind as well as orient the incoming employee about the role.

Create a turnover document

Prepare a checklist of things you need from the employee so that it’s easier to navigate through the tasks once the position is left vacant. The document includes the list of files being handed over, unfinished tasks or unfulfilled responsibilities, and the contact details of clients, suppliers and other stakeholders they normally deal with while working in the organisation. If the person is handling social media accounts and online access on behalf of the company, get the account information and passwords. The document becomes a reference for you and the one who will be filling in the role.

Check physical and digital files being left behind

Don’t just simply receive the files handed over to you. Review them and familiarise with them, especially with contracts and important documents. For the soft files, understand how they are organised so it’s easy for you to look for them in the future. Verify the list of files given to you and check thoroughly in case something is missing or forgotten.

Get introduced to accounts, clients or contacts the person is handling

In positions where the employee has several external contacts or dealings with, such as in sales and marketing, be sure to get the directory of these accounts. Set a timeline where the outgoing team member introduces you or the new person to people they regularly come in contact with during their tenure in your company.

Set a period to shadow the outgoing employee

Sitting down one time or having a single meeting before the employee leaves may not be enough to fully cover the gaps. If a new person has begun reporting, let that person shadow the outgoing employee as part of the new staff training and orientation. Otherwise, if there’s still no one to take the place of that team member assign someone who will shadow the person or document the day-to-day tasks and activities properly to have a smooth onboarding process when the new person comes in.

Generally, it is easier and more cost efficient to retain good people because hiring a new one takes a lot of effort and energy. However, since it cannot be avoided that people will leave an organisation, better be prepared for this eventuality by setting up a system that will make handing over of tasks seamless that will ensure the continuity of tasks.

Tech brands that made it big

Most companies and businesses nowadays do not have a physical product to sell. With information and transactions mostly done online, many brands that we have come across offer various services through websites or phone applications. From photo sharing, social networking, email marketing to buy-and-sell, there are plenty of industries that now rely on the internet to push their businesses forward.

Some of these businesses started as side projects, yet they became so popular that they evolved into core products of their companies. Others offer simple yet valuable solutions to certain challenges or difficulties we encounter in our day-to-day lives. Let’s take a look at a few examples and get insights on how they have built their brands from nothing into something big.

Mailchimp

While founders Ben Chestnut and Dan Kurzius created a web design agency for large corporate clients, they also made an email marketing project on the side to cater to small businesses. But this email service has become a valuable tool among individuals and small to medium-sized enterprises, garnering a user base of tens of thousands that continues to grow exponentially. It led the founders to focus exclusively on their product, called the Mailchimp. At present, users can integrate Mailchimp in their websites and social media platforms, making it easy for them to communicate and reach out to their customers and those in their mailing list.

Craigslist

One of the early players in the field is Craigslist, named after its founder, Craig Newmark. It began as an avenue for Craig to inform his friends of the latest happenings in the San Francisco Bay Area. Eventually, other people started posting jobs, items for sale, apartment for rent and other announcements on the list. The site, which is very simple in appearance and easy to navigate, has become the go-to place for people offering and looking for various items and services. Now, Craigslist service several cities and countries around the globe.

Skyscanner

The tourism industry is among those that have benefitted greatly from the advancement in online technology. Several websites and apps provide information and easy access for travellers to plan and book their trips by providing information on accommodations, flights and car rentals and compare costs. One of these sites is Skyscanner, which traces its roots in Edinburgh, Scotland, and later acquired by Trip.com.

Twitter

In the social media realm, Twitter is one of the main players where people can connect and share thoughts, moments and information. The microblogging site was initially called twttr, a project of its mother company, Odeo, and it was first used internally among the employees. Later on, celebrities, brands and even government officials turn to Twitter to post on various topics and users turn to the “trends” to jump in the conversation. Now, Twitter is a company in itself and is widely used worldwide.

Shopify

Before it became an e-commerce platform, Shopify was just another online store, called Snowdevil, that was selling snowboards. Not satisfied with the existing e-commerce tools at that time, one of the founders, Tobias Lütke, decided to build their own, which is now Shopify. This online marketplace grew from just five people meeting and working in coffee shops to having thousands of employees across the globe, servicing over a million businesses and buyers.

Unsplash

It all began as a Tumblr blog filled with photos from photoshoot outtakes of founder Mikael Cho’s company. He welcomed others to use the photos until it grew and became what is today’s Unsplash. Now, it is one of the sources of stock photos although changes have been in place and there are certain restrictions. But who ould have thought that from a humble beginning, it is now widely used by various individuals and companies?

Grammarly

At first, Grammarly was created by Alex Shevchenko, Dmytro Lider and Max Lytvyn to support students in their spelling and grammar. But the product held so much promise that it was also being used by professionals in business and everyday writing. Grammarly can also be used as an add-in to various platforms and browser extensions.

GoFundMe

If you’re looking for a job, a property, an item, a picture, a flight schedule or an event, you name it and the internet will surely lead you to something. But it’s not just products or services that are found in e-commerce and tech sites. There are also crowdfunding that aims to help those in need. GoFundMe is one site that provides a platform for those looking for resources and those looking for a cause to support. Its forerunner was Paygr which was originally established to provide its members with an avenue where they can sell their services.

Houzz

The advent of the internet also paved the way for many do-it-yourself projects, allowing those who cannot afford to pay professionals to do things by themselves or seek advice from people with similar interests or concerns. Houzz was born because founders Adi Tatarko and Alon Cohen were remodelling their home. Frustrated with piles of magazines where they cut out pictures of houses and still couldn’t put together their dream design, they built Houzz and became an online community on interior design, architecture, landscaping and home improvement.

Groupon

Groupon is a platform that banks on the concept of collective bargaining power. Its founder Andrew Mason first helped establish The Point, which was based on the principle of the “tipping point”, gathering people for a common goal. Eventually, people started using it to band together to save money through group discounts. It evolved into Groupon, an e-commerce site focused on group buying.

There are many more technology-based startups that have grown in a span of a few years. It goes to show that people turn more and more to the internet for all their needs and wants. The challenge, however, is in sustaining these brands by staying relevant amidst the changing times.

How entrepreneurs can spend their weekends in the new normal

Restrictions have eased up after the quarantine, but movements are no longer the same as to how it was before COVID-19 hit the world. People are still advised to observe distancing as much as possible. Some companies have opted for flexible work arrangements with their people where certain staff members work from home. Many events and activities are still held online. As long as no vaccine is available, precautions are still advised to be taken to avoid a similar occurrence in the future.

For everyone else, it’s a new normal. Even entrepreneurs are not spared with the lifestyle change happening in our society. The boundary of home and office becomes blurred as many opt to work from the confines of their houses. Although you may have an allotted space where you do business, making it more accessible often leads you to attend to your business more than you used to. How can business owners spend their weekends and spare time in the current unusual scenarios? When you can’t go to the beach or hike to the mountains, there are other ways to take a break, especially when the stress and pressures of work are too much to handle.

Look after your body

With the health crisis that the world is facing today, it is important to look after your physical well-being. You can do some exercise or be creative in your exercise routine and indulge yourself to other physical activities that will not require you to leave your vicinity. You can also get into gardening or cooking healthy food that can help boost your immune system.

Take care of your mental health

Worrying about the future, your family, your business and your people can take a toll on your mental health. The uncertainty that the situation brings can be a major concern for an entrepreneur. Do some meditation exercises, talk to people close to you or indulge yourself into something that can help you relax and ease you of your worries. Get into music or learn a new hobby, something that can bring you little joys.

Deepen relationships

During these challenging times, it’s okay to check in with your friends or call someone whom you have not spoken for a long time. Reconnect old ties and strengthen new ones. You can even stay in touch with your clients and business associates. Attend online gatherings when you can. Most of all, spend more time with your partner and family members. Being cooped in your home may be an opportunity for you to enjoy each other’s company even more.

Clean up and organise

When you’re off your computer or not out for some business matters, you can spend time at home cleaning up, fixing things or organising your stuff. Maybe they are just waiting for you to find time to arrange them. Not only will it keep your surroundings clean but it can also be therapeutic for you.

Develop yourself

Continue developing yourself amid the crisis. There are plenty of webinars that are available online that can help you gain more insights not only on how to survive the present challenges but also on how to make yourself better in various ways. Read books and listen to podcasts on things you want to learn more.

Do philanthropic work

A lot of people are suffering. Some of them may be within your community. Take time to know the immediate needs that require quick action. As volunteering physically may not be possible yet, you can help out within your means, whether you donate to a cause or lend your expertise to a group.

We’ll never know what the future holds, but we have experienced something that has changed our lives. It has taught us to take care of ourselves and be mindful of those around us. Life goes on, and work still never stops for the entrepreneur, yet a weekly break is a welcome respite from all the stress we receive from within and around us.

President's Update - June

From the President

"We've aged a generation in the past [120 days]. What matters has sharply come into focus. Family matters. Love matters. Kindness matters. Health matters. Generosity matters. People matter. Community matters. The rest is just noise.

Aside from physical distancing, the biggest thing you can do right now is to choose to see the best in each other. Be kind. Be patient. Be tolerant.

Be quick to help out in any way that you can. Be forgiving when you would otherwise be upset. See things through the eyes of others and try to understand where they are coming from.

Seek out opportunities for generosity. Reconnect with your community. Reconnect with yourself. Reconnect with your priorities. Live them." - Anonymous

Dear EO Melbourne,

Your Board and I have the awesome responsibility to leave the Chapter better and stronger than how we found it. The phrase “better and stronger” is our north star, and this north star forms every single decision that we make.

Earlier this week as I reflected on the achievements of our Chapter and our Board, I quickly realised that far greater than the progress we have made as a Chapter, there is something more important that I need to write to and I do a disservice to this Chapter and its Members by not focusing on what truly matters. In spite of the crisis that we find ourselves living through, we have become more human. We have become kinder, more gracious, and more patient.

Who can forget March when our world and our lives turned upside down?

Collectively, we have lost much, but I’d like to challenge this narrative and suggest that we have also gained much, too.

We have gained time to slow down, the opportunity to strip out the nonessential and examine — really examine — what’s most important in our lives: (1) time to spend with those we love and whom in turn love us; and (2) the chance to rediscover our own humanity so that we grow into becoming kinder, more gracious, more compassionate, more patient, and more human.

We have no certainty on when this global pandemic will end, but the one thing that we can do is to lean into relationships that we have with one another, to lean further into our values (the same values that unite so many of us), to come together as a community and a family, and to celebrate each and every victory no matter how small or inconsequential they may seem.

For all of us, the last 120 days have been difficult, unsettling, destabilising and, at times, heartbreaking. Sometimes, all at once. However, I know that it is during times of crisis that great leaders and acts of great leadership emerge and that during this crisis, we as a Chapter chose the path that brings us closer together and not the path that forces us apart.

I have witnessed Members reaching out their hand in genuine care and support. Simple acts such as picking up the phone, making a call—even if just to check in—can mean the world. It can be that small boost that provides the courage for others to just hold on a little bit longer. And the Board, it has the core belief put into action that “no Member will be left behind”, which symbolises that we have decided we are better together.

It is in times like these that our humanity shines through. It shows that we are not alone; and that we are better and stronger together.

To you all, to our Board…this is what I am most proud of.

And so it is with immense pride and satisfaction, as I write my final letter that signals the end of my tenure as President, that the Board and I leave this Chapter better, stronger and, above all, more connected.

It has been an incredible honour to serve as your President, and I hope that I have earned the privilege of your trust.

I wish you and your families the very best of health and success in the months to come.

Thank you.

With warmth and gratitude,

Kym Huynh

President 2019/2020

8 Crisis management books to help your business

Whether it is in the form of a natural disaster, an armed conflict, a stock market crash or a pandemic, a crisis is bound to happen, and often when we less expect it. Rather than be caught off guard, such as how other businesses were during the recent events, it is better to familiarise yourself with various scenarios and know the strategies on how to cope and survive them.

There are many resources on crisis management and leadership that can guide you on how to navigate through the crunch. You can get some insights from crisis management books, which are aplenty. Here are eight of them to start you off.

Crisis Management Leadership: Training to Survive the Critical Moment by Kenneth A Lipshy, MD FACS

Kenneth Lipshy, a surgical leader, put together in his book snippets of crisis leadership styles and advice from leadership professionals belonging in the fields of medicine, aviation, military, wilderness rescue, police and fire. He also shares about his experiences in his medical practice and learnings on human cognitive errors, their causes and how to prevent and mitigate them.

Cultural Competency for Emergency and Crisis Management: Concepts, Theories and Case Studies by Claire Connolly Knox and Brittany "Brie" Haupt

While disasters and tragedies happen in various parts of the world, responding to them should also consider culturally competent practices. The book highlights the need for an in-depth understanding of cultural competence for emergency preparedness. It also provides a guide, case studies and some exercises for individual and group discussion and assignments for crisis management.

Crisis Management: The Art of Success & Failure: 30 Case Studies in Business & Politics by Yunus D. Saleh

With 30 case studies compiled, Yunus Saleh’s book provides a tool to evaluate various scenarios and for readers to understand and learn how to tackle crises when they happen. The examples present fruitful and futile approaches in managing a crisis, where one can draw lessons from such events.

Crisis Managemen: How to develop a powerful program by Regina Phelps 

Crises are inevitable. They can happen in various ways and different degrees. But even before they come knocking at your doorsteps, the crucial question is “what should I do?” The answers may be in the pages of this book as Regina Phelps step-by-step tips on how to develop a powerful crisis management program.

Crisis Management: Responding from the Heart by Kristin S. Harper, Brent G. Paterson, Eugene L. Zdziarski II 

This manuscript provides a different angle on how to approach crisis management. Apart from drafting procedures in preparation for a crisis, responders can also learn to do the right thing. It infuses feelings into the whole process of crisis response by responding from the heart.

Crisis Management: Planning for the Inevitable by Steven Fink

Compiling some case studies and the things that happen behind them, the book provides scenarios, practical tips and advice on how to respond to a crisis, avoiding its drawbacks while traversing out of it. This has become a significant resource among small and medium businesses, governments, large companies, and educational institutions.

Leadership: In Turbulent Times by Doris Kearns Goodwin

By studying four US presidents namely, Abraham Lincoln, Theodore Roosevelt, Franklin D. Roosevelt, and Lyndon B. Johnson, Doris Kearns Goodwin presents their respective journeys in their public life. It shows how they dealt with their leadership positions despite the challenges and hardships they experienced. The book also gives insights on how these leaders battled their internal and external predicaments. It also provides a road map on leadership based on the stories of the four leaders.

Crisis Management: Resilience and Change by Sarah Kovoor-Misra

Mismanaging a crisis may cost companies and communities resources and lives. Sarah Kovoor-Misra uses her transformative crisis management framework as well as presents factors to successful crisis management like leadership, systems, communication and stakeholder perspective. It also incorporates the ethical, emotional, change and global facets of crisis communication. These allow companies or organisations undergoing a crisis to be resilient, proactive, adaptable and ethical.

Supporting your team during a crisis

A crisis, big or small, can cause a lot of stress and anxiety to a lot of people. As you look after your business and your well-being, make sure that the welfare of your people, which forms the backbone of a company, are also given much attention.

When problems arise that may affect the future of a company, it cannot be avoided that people will feel unsure. How do you support your team during challenging times and lead them through it? Before it can get worse and cause bigger problems, it is better to meet it head-on and help them steer through the problems as a team. They will look to you for guidance and inspiration, so you have to take care of your mental state first to be able to have the strength and competence to direct them amidst the chaos and confusion.

Open lines of communication

Be transparent. Listen to their concerns. Inform them of pertinent details so they will understand the whole picture. If there is any decrease in sales or drop in revenues, let them know about it. Reach out to your staff as they may be hesitant to approach you. Open your lines of communication to avoid misinterpretation and false information to spread within your organisation.

Adjust some work policies and benefits

You might want to loosen some things in your company while undergoing a crisis. Others lessen work hours, ease the workload, allow their staff to work from home or provide some form of flexibility with how work is done. Check your resources if you can extend some in-kind or monetary support to your team, especially when a disaster, tragedy or pandemic is happening.

Organise your team in a new set-up

If changes are happening within your organisational structure or operation procedures or systems make sure to provide distinct directions or instructions for better guidance. People tend to look up to or rely on a leader to clear a path amidst the chaos. Managing change during a crisis is essential to ease people’s anxiety and prevent confusion.

Provide support for their mental health

With all the external pressures that a crisis may bring to your people, your organisation can help by not putting so much burden to them but by helping them navigate through it. An HR team or consultant may have to look after the welfare of your people. Often, they need to have someone available whom they can talk to, especially an expert who can help them deal with things. Come up with avenues for your staff to be able to process what they are going through. You may also have to put together resources that can help them survive.

The important thing is that as you and your team go through hardships, they should feel that you are in this together and that you understand their predicament.

Leadership in the Time of Crisis

EO Melbourne Navigating Now and Preparing for Post-COVID-19

"We've aged a generation in the past three weeks. What matters has sharply come into focus. Family matters. Love matters. Kindness matters. Health matters. Generosity matters. People matter. Community matters. The rest is just noise.

Aside from physical distancing, the biggest thing you can do right now is to choose to see the best in each other. Be kind. Be patient. Be tolerant.

Be quick to help out in any way that you can. Be forgiving when you would otherwise be upset. See things through the eyes of others and try to understand where they are coming from.

Seek out opportunities for generosity. Reconnect with your community. Reconnect with yourself. Reconnect with your priorities. Live them."

- Anonymous

The onset of the COVID-19 pandemic has brought governments, businesses, and communities to a standstill, affecting lives all over the world and across all levels of society. Entrepreneurs are not spared from the adverse effects of this pandemic. EO Melbourne’s President Kym Huynh shares how the crisis has impacted the lives of entrepreneurs in Melbourne and how he, and his Board, tackled the situation head-on to both help those affected navigate through the challenges and prepare for a world post-crisis.

“What differentiates COVID-19 from other world crisis such as the Global Financial Crisis of 2007-2008 and September 11 of 2001 is that no one knows what the end date of this pandemic is. Consequently, we cannot accurately plan for the future when we do not know when the endpoint for the current crisis is,” Kym states.

“During uncertainty, people seek answers, people seek leadership, and people seek direction. And when you throw a global pandemic on top, you have an environment where emotional states are heightened, and people become prone to acting emotionally rather than rationally. When I consider this in the context of leadership, it is important to augment how we typically lead with such speed in decision-making and an increase in our communications cadence,” he continues.

When faced with a challenge or difficulty, Kym’s normal process is to:

1.       Step back

2.       Choose not to immediately react

3.       Assess the environment and situation

4.       Gather multiple credible data points

5.       Stategize

6.       React from a place of stillness

Leading the team

Entrepreneurs, by definition, are leaders. The people employed, the family members and the communities that entrepreneurs touch all look to them for cues on how to react and respond. “If you’re going to be in a position where you are seen by others as that of being a leader, you might as well be a good one,” Kym reflects. “One thing I have learned from leadership during COVID-19 is that I don't always need to have the answers,” Kym quips, “but rather that I need to be present, constant and visible so that I create that environment and space of safety and stability”. In that, he makes sure he is a constant so that he can provide stability to his Board, EO, his family and his community.

He enumerated the immediate things he did to mitigate the complexities of the situation:

1.       Make sure everyone is calm and collected

“The topmost priority for me was to manage the emotional state of the collective, and dive deeper 1-on-1 with individuals where needed,” Kym states. He believes that making sure everyone, particularly the Board and the team, is in a still, calm and collected state-of-mind is very important. For the Board and the team to lead, they need to be able to make good decisions. To make good decisions, they need to be in a good emotional state. Therefore, he made it a priority to make sure that every single person around him was good with themselves so that they could effectively look after the Chapter.

2.       Create an atmosphere of safety and stability

He made sure he was highly visible, and accessible by opening his normal lines of communication more so that people can come to him for that feeling of safety and stability. “In my experience, sometimes the little things you do can mean the world to others, and COVID-19 amplifies this experience. Whether it be a phone message, an email, a phone call or a video call, I have found that these simple actions reassure people that I—and my Board--are present and that we are thinking about the situation. These simple actions are important because people are looking for stability in a time where there's so much instability,” says Kym.

3.       Create concise, focused and impactful messages

Once everyone is calm and feels safe, he and his Board were quick to communicate to the Chapter that they’re there for the members, doing everything they can to support the members with messaging that can be comprehended easily, leaving no room for ambiguity. “It is important that any messaging is easy-to-understand, and leaves no gaps because if we communicate with gaps, others will fill in the gaps for us, and they will fill it in incorrectly. Even more during a crisis, it is imperative that the messaging is concise, focused and impactful,” Kym states. “It was important for myself and my Board that we communicate a message of unity, solidarity, and that together we are stronger,” he adds.

Plan of action

Words of assurance and encouragement must be accompanied with a specific, timely and measurable plan of action. Kym convened his Board to exchange experiences and insights and review the collective feedback and sentiment from the community. These are the action points they came up with during their fruitful Board meeting and in the succeeding discussions:

1.       Appointment of a Resident Psychologist

Knowing that people are hurting and many businesses have been severely impacted, the Board made it a priority to support those who were in need. To show that they’re there for the members, the Board decided on the appointment of a resident psychologist that is entirely funded and supported by the Chapter. That is, any Member of the Chapter, if they need to, can call and directly reach the resident psychologist for a confidential conversation.

2.       Member-to-Member support

Members of the Chapter are paired up with one another, wherein they can reach out and stay connected. It provides members with an avenue to pick up the phone, call another member, check on that person and let the conversation flow. “It is crucial that we lean into, and invest in, our relationships with one another during times of crises,” Kym shares.

3.       Board-to-Member reach-out

The Board recognises that there are a handful of members who have contracted and remained quiet while fighting their fires. These members were identified and assigned to Board Members. Kym speaks from experience, “When I'm in a crisis, I tend to feel like I don't want to burden and bother others with my issues. It is a difficult compulsion to fight, despite cognitively knowing how much better off I will be if I share openly with others and being vulnerable. The lesson here is to not wait for people to ask for help, but to be proactive, pick up the phone, and reach out. Our small acts of kindness and compassion can mean the world to another.”

4.       Supporting members through the current crisis, and preparing members for the world post-crisis via condensed learning events

The Chapter launched a 12-week webinar series consisting of members sharing stories, learnings, experiences and expertise with other members. According to Kym, “These learning events create solidarity, reinforce the community, and create safety. Knowing this, we moved fast to create these events, source our speakers and add resources to promote them to our members.”

From the board meeting, webinar topics were discussed, wherein the first half of the series is focused on navigating the current crisis while the other half is to help prepare members for what happens post-crisis. Topics were determined based on the issues that the Board Members were experiencing themselves and those that they heard from other entrepreneurs and business owners.

5.       “No member will be left behind”

EO Melbourne adopted the motto, “No member will be left behind.” The message was communicated quickly and repetitively. It was short, concise, focused, and left no room for misinterpretation. The Board also ensured that the substance of the message could be supported by ensuring that the Global Support Package and Local Support Package combined to create a substantial assistance package.

“We are mindful that there are members whose entire businesses and livelihoods have been severely impacted, and that they're in a very stressful and overwhelming situation. We accounted for this type of scenario. So, we wanted to make sure that if any member wishes to continue to engage with EO next year, we will find a way to make it happen,” asserts Kym.

Moving forward

Although the future seems uncertain, Kym accentuates that the EO Melbourne Chapter must move forward stronger, better and wiser, highlighting that we are stronger together. He illustrates this by sharing the idea of a stick, wherein if it remains alone, can easily break. But if bundled together with other sticks, it becomes significantly more difficult to break.

For Kym, “We must move forward stronger. We must be more connected with one another, and with that connection will come solidarity. We will move forward better, wherein we will be kinder to ourselves, each other, our families, our friends, our teams, and our communities. We will move forward wiser when we can carry the lessons we've learned during this crisis into the future. After all, like it or not, the crisis has happened, so it is incumbent on ourselves that we do what we can, to make the best out of the crisis.”

“Times of crisis creates opportunities for great leaders to emerge. It is leadership not only in our businesses but also in leadership with ourselves, our families and our communities. I hope that every single person reading this finds it within themselves to stand tall and proud, and to step up to becoming a great leader, one that serves others, leads with compassion and lifts those around them. We started the year with the theme, ‘our best year yet,’ and with our leadership, not only can this be the best year yet for ourselves, our businesses, families and communities, but also the EO Melbourne Chapter,” Kym imparts.

The pros and cons of serial entrepreneurship

There are entrepreneurs and there are serial entrepreneurs. But what is the difference between the two? Both start a business from an idea. While a typical entrepreneur may opt to stay to run their venture, a serial entrepreneur may pass on the reigns of managing the business to someone else and moves towards starting another one.

Some entrepreneurs may be more skilful at the startup stage and find it a challenge overseeing the day-to-day needs of the business. Serial entrepreneurs thrive at creating ideas and putting such concepts into concrete results by building startups. There’s nothing wrong with it if one’s skills set better matches becoming a founder rather than managing a business. Still, it pays to be aware of the advantages and disadvantages of serial entrepreneurship should you decide to be one.

Pros of serial entrepreneurship

More opportunities to widen one’s creativity

Not all business ideas can be merged into one venture. Some are unrelated that you need to establish a separate enterprise for your various business concepts. The good thing about being a serial entrepreneur is that you don’t get stuck with just one idea or box yourself within your existing business. By opening another startup, you can experiment and come up with many creative outputs without putting your other business in jeopardy.

Gives you more flexibility and freedom

A variety of businesses with different concepts and core products or services may allow you more flexibility and freedom to do whatever you want. As you are more into generating ideas and laying them out, you are not tied up with the day-to-day operations of your businesses. With that, you can pour your time and effort into what you do best while getting experts to take care of areas where you need help the most.

Personal and professional development

Exposure to different industries and challenges will help hone your skills and capabilities. It can provide you with various avenues for professional growth as well as personal development. You get to learn the ins and outs of the many industries where your enterprises belong and understand more the mindset of different market groups.

Can bring in more money

Having more businesses may bring in more sales and profits. It’s not always the case, but if they all become more prosperous, you will reap a good harvest with what you’ve sown. Many successful serial entrepreneurs now enjoy various streams of income because they have established several ventures and provided a good foundation to allow them to grow.

Cons of serial entrepreneurship

Several risks to take

Establishing businesses here and there may sound exciting but it may come with a huge price. Starting a business means investing your resources, time and effort. If you have several ventures you may need a lot to invest in them, which means exposing yourself to a lot of risks. You need to be more calculating in your decisions to lessen probable harm to you and your businesses.

Need for trustworthy people

Since serial entrepreneurs are usually more present in the business during the early phase and may have to hand over the reins to someone else, there is a need to find trustworthy people who can manage the various aspects of the business once it has started to take off. As the entrepreneur moves on to another startup, there must be strong leadership that will steer the other ventures forward.

A lot of accountability

Although there may be directors and managers that will take care of the other businesses and their departments, having several enterprises entail bigger accountability to the entrepreneur. There are more people under your wing. One misstep may not only affect one venture but may also affect the others. When something unexpected happens, you have more people to tend to and matters to attend. It cannot be avoided that as you multiply your businesses and expand them, there are more mouths to feed and more individuals relying on you. It might be difficult to pull out when the right time comes.

Lack of focus

With three or more businesses to your name, you need to allocate quality time for each. Having too many may result in a lack of focus, causing one or several of them to suffer. Some of your businesses may demand your attention all at the same time and not be able to address a certain issue may yield to losses and failure.

Becoming a serial entrepreneur takes a lot of courage and confidence. Not everybody may be one, as much as not all can become an entrepreneur, but if you put your mind and heart into it, you may be able to surpass the unimaginable and be able to build a business empire.

When to partner with a competitor

It may not be commonplace to find competitors partnering with each other, but it is also not a rare case. Besides, such collaboration only lasts for a certain period and is not expected to be done in the long-term.

However, there are benefits you can get by working with a competition, although it may also pose some risks. But if you have a common goal in mind, then doing so may mean you have to set aside your differences and cooperate until you achieve what you both want to attain. Just make sure that you keep your trade secrets close to your chest as certain circumstances may call for it.

During times of crisis

A crisis, tragedy or disaster, such as the global pandemic we are currently experiencing, are few instances when you need to put two minds together until both your businesses can surpass such difficulty. Oftentimes, several companies in the same industry come together to cooperate so that they can survive and navigate through a crisis.

For innovation in the industry

Competition happens not just among businesses belonging in the same field but also among various industries. With the rise of online and app-based ventures, physical stores or those with physical products experience a dent on their performance. Other industries are left behind because of the fast technological advancements. Partnering with a competitor to revive your industry or innovate it is a good move to help your business withstand the rising trend of other new industries.

When expanding the market

It is often difficult to enter a new market or expand your existing one to new territories. To save you on your effort and resources, as doing so may require a huge risk, partnering with a business similar to yours may be a wise thing to do in certain situations.

To complement each other’s business

While you are competitors, you may have different strengths and unique selling propositions that one may have over the other. You may complement each other’s businesses by putting on the table something that the other one does not have.

In facing a bigger competitor

When a huge corporation dominates a certain market, small businesses sometimes suffer as they only get a meagre portion of the pie. They need to join forces so that they can increase their market share and have a better competing power against the big player in the field.

For a common charitable cause

Businesses usually help out a sector that is related to their brand or operation. Construction firms would want to build homes to the homeless or schools to communities in need. Enterprises that are into children may help in education. Competing companies can work together to help a particular sector of society, hoping to provide better conditions to that group.

It may be an opportunity to find a circumstance where you can partner with a competitor. But then, think it over thoroughly, do a lot of research, discuss it with your team and analyse the situation carefully. There are benefits with working with a competitor but know the risks. Be sure that you do it to advance your business and help you get closer to your vision and goals.

Tips on doing niche marketing

Getting exposure to as many people as possible may be a good thing. But it can take so much time, effort and resources on your part. Meanwhile, if you target a specific market, it will take less but may produce the same or better results.

Niche marketing is a strategy where you direct your initiatives towards a target market and customise your messages and design to their preference. It is different from mass marketing, wherein you convey you communicate to a bigger audience. On the other hand, niche marketing focuses on the segment which has the most need and most interest in your product or service.

To make sure that your niche marketing strategies are effective and successful, here are a few tips that may help your business.

Get the demographics of your market and segmentize them

Surveys, feedback forms or interviews are just a few methods of getting information about your customers. It’s always helpful to gather data, observe first-hand and analyse the numbers to set the foundation of your strategies. Know the age, location, occupation and other information on the demographics of your clientele. From the statistics generated, divide your market into segments so you can decide the best group to target for your niche marketing.

Research on the behaviours and psyche of your target market

Delve deeper into your target segment and know their behaviours, hobbies and preferences. These will help outline your strategies on how to approach and communicate with your market. Understanding their needs and pain points and seeing the connection as to how your products or services address such will enable you to tailor-fit your marketing campaign towards them.

Maintain a database of your customers from that niche

Put together a database of your clients belonging to your target segment and communicate with them regularly. Better yet, provide an avenue for them to form into a community. It will enable you to strengthen your relationship with your target market and encourage loyalty to your brand.

Choose the right communication platform or channel

Once you have determined your target market’s mindset and behaviour, select the right platform or channel where you will communicate to them. Although bags are the same, targeting a high-end and matured market is unlike communicating to a young group. The idea with niche marketing is that you don’t have to be all over the place. Instead, you can focus more on where you can be most visible to your intended audience.

Craft your messages and design for the target segment

When you have fully known and understood that market segment you want to aim, craft your messaging and design your marketing materials as to how they will appeal to them the most. Doing so is like communicating to them directly. Adjust your messaging and design according to the platform you are using. Ads in written format should not be the same with broadcast media. Similarly, direct emails are drafted differently from press releases and social media posts.

Follow-up, follow-up, follow-up

Sustain your initiatives by scheduling properly your activities. If you did an exclusive event for your target market, sent out an email or launched an online campaign, make sure that you do a follow-up. With so many things going on in a single day, people may tend to forget about your brand. Make your presence felt in a way that your product or service becomes more relevant to them.

If you even know better the market you want to target, you can be even more specific on your action points. Don’t forget to evaluate how effective your niche marketing is and if it’s something that you should consider doing for your brand for the long-term.

Dealing with high emotions at work

Organisations and businesses are composed of people. Emotions are part of our human nature, and they may intensify when we interact with others. When you are working as a team, and there is so much energy, pressure, egos and excitement in the environment, it is unavoidable that emotions may run high, which can lead to conflicts or friction among colleagues.

Let’s focus more on volatile emotions that, if remained unchecked, may cause harm to one’s well-being or professional relationship. Anger, disappointment, frustration, distress, resentment, fear, sadness, displeasure and anxiety are just some of the sentiments one may feel towards a situation or person. However, even if one’s negative sensation is not necessarily directed to all the people within an organisation, it can stir the office atmosphere and create a ripple effect of undesirable energy that may not be helpful to everyone around.

While work may cause a lot of stress on people, it is undeniable that some negative feelings may be caused by external forces, such as personal concerns and other factors that may not be work-related. You must acknowledge such emotions, whether yours or from others, and not repress them. Better yet, talk it out in a composed and calm fashion to eliminate any misunderstanding, acknowledge any mistake and move towards an amicable solution.

Manage your own emotions first

Whether you are the one who is at the height of emotions or dealing with someone who is, you must keep your reaction under control. It is innate for human beings to have feelings but it is also the nature of feelings to change over time, depending on the circumstances and how people deal with them. To avoid causing distress or wreaking havoc on your team or clients because of what you feel, you may find these tips helpful.

Take a deep breath and have a minute to compose yourself

Before you face anyone, allot a minute or two for yourself to take a deep breath and clear your head. Sometimes, you need a moment to identify your emotions and process things internally or prepare yourself for what’s to come.

Talk it out with someone you trust

If you feel sad, angry, anxious or anything else that is weighing you down, try to talk about it to someone you trust. Maybe a lending ear or a reassuring remark can help ease the burden off your shoulders.

Do an activity to relieve you of such emotions

Go for a walk outside, squeeze some stress balls, listen to soft music or have a cup of tea. Try to do an activity that can help you calm down or relax, even for a short while, before you continue with the tasks at hand.

Outline the things you can do to mitigate the issue

You may not fully control the thoughts and feelings of other people but you can do something about yours. When you have cleared your mind and identified the root cause of your emotions, list the things you can do on your part to resolve or mitigate the issue. Do you need to talk to someone? Do you need to verify something? Is there a need to correct a person, a process or a situation?

Manage your people’s emotions

Before you are going to deal with the emotions of others, make sure that you are in the right frame of mind to face the person who is having an emotional breakdown. Whether those sensations are work-related or personal issues, not attending to the emotional needs of your team members may affect everyone else in the organisation. Although you may have an HR who can focus on these matters, there are instances when your team people will look to you for support, comfort or resolution. How do you become a beacon of light for them when they are in distress?

Make the person calm down and listen

Let the person calm down. Offer a glass of water and allow emotions to subside. Lead the person to a private space for a chat. This way, the person will not feel embarrassed while not disrupting the rest of the team with an outburst. Ask the one involved how he feels, listen to his concerns and affirm his emotions.

Check facts, verify details and know the reasons for such feelings

Get to the bottom of the matter. Know the reason why your people feel that way. See the big picture so you can better understand the person. If there’s a conflict between colleagues, listen to both sides of the story and look at the situation from various angles and lens.

Steer them towards a solution

If it is due to personal issues, you can ask questions that will help lead the person to a solution. However, if such feelings were brought about by work, you can probably come up with steps that can help alleviate negative emotions in the workplace.

No matter how much you keep things professional at work, it is inevitable for people to feel slighted, offended or dejected in the office. Personal feelings can also come into play and small issues may blow up along the way. These are things that must not be ignored. For your business not to suffer, along with relationships within your organisation, it is better to nip it from the bud by attending to such concerns early on.

How to sell your business

Selling a business, big or small, is not something that happens overnight. If it is part of your exit plan, you need to outline how to go about it so that when the right time comes, you can easily start the ball rolling. Whether it’s the point when you feel you need to move to another industry or retirement, attend to other personal matters or navigate through a crisis, such the pandemic that the world is experiencing, selling a business is always an option that an entrepreneur can consider doing.

The logistics of preparing to sell your venture is tedious in itself, which includes the financial, legal, mental and emotional aspects of it. Consider also that there are people that will be affected by it, so think through it several times before you make decisions, plan out your steps and carry them out. What are the things you need to do to help put your enterprise on the market?

Know your company’s worth

You have to know your company’s market value. There are several ways to calculate this, which is by looking at the return on investments, growth, performance rating, assets and other factors. It also depends on the size and potential of your business. You may consult with an expert or check out data in your industry to help you determine the right price for your venture.

Look for a broker, adviser or someone to represent your business

A broker can help you look for potential buyers and also help with the valuation of your business. Consider that the broker gets a piece of the pie as well, but you can unload some burdens on your shoulder. However, if you want to do it yourself and save some money from getting a middle man, you should have an adviser whom you can consult on various matters regarding the sale. If someone is willing to help you out minus the hefty fee, then the better it is for you.

Organise your financial books and important documents

Prepare your finances to make sure that everything is in order. Work with your accountant on this so that it is easier to present your business status and when due diligence is required. Also, make sure that important documents, especially licenses and legal papers, are in place and without any problem. Prepare a contract and have a lawyer and financial expert check it for you.

Talk to the people around you

Whether it is a family business or not, it is good to talk it with your family so that they can support you on your decision. Discuss the matter with your business partners, if you have any, as well as your associates and staff. They will be most affected by the sale of your business, so you have to make sure that emotions are kept in check by giving assurance and clear directions.

Polish your business model, systems and workflow

Your business must be able to function and grow without you. Should you decide to stay in the business even after the sale, you need to change the mindset of people within and around your organisation. Lessen the dependence of your people on you. Strengthen your systems and workflow so that when the new owner comes in, the business will continue to operate.

Get the word out

If you have already done half of the preparation of selling your business, start talking to people and let others know of your intent to put your business in the market. Once, everything is ready and the only thing needed is a buyer, market or advertise your business and get on the proper channels that can lead you to interested parties.

Review prospective buyers and prepare for due diligence

Once you have a list of people who are expressing interest to acquire your company, check their background thoroughly to make sure that you are leaving your venture in good hands. In the same way, buyers will also conduct due diligence on your business, so be prepared for it as well.

Negotiate, close the deal and hand over the business

When you and the buyer agree on the price and the provisions on the contract, sign it, close the deal and provide a period of turnover with the new owner. Once everything is done, don’t forget to celebrate.

Starting and building a business is like nurturing for a child. The emotional attachment may be there, which may often make selling a business a little difficult for entrepreneurs, even for team members. If you have fully thought and decided on putting your business on the market, mental and emotional preparation is paramount. One way to look at it is that you want the best for your company, so selling it to the right person or group may be necessary to let your business grow more and flourish in its industry.