Business Partner Magazine

Tips and advice for entrepreneurs, start-ups and SMEs

5 Pillars of Starting Your Dream Business in 2018

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If you happened to be frustrated with your day job a couple of decades back, the only thing you could’ve done was swap it for a less annoying one; only some of the lucky ones were able to start their own thriving business and enjoy being their own bosses. Nowadays, things have changed, but the human mentality hasn’t: we think that we just can’t do it.

Well, we can’t help you there, but if you are already brave, adamant and dedicated enough to start your dream business in 2018, we might just have a couple of useful tips for you!

Find your ‘fountain’ of motivation

First, let’s not define money as a motivator. When push comes to shove, the need for money is merely a trigger for motivation – something that will push you into trying to find a way to make things better.

The true ‘fountain’ of motivation comes from the heart; yes, it might sound cheesy, but it has been proven true, time and time again. The true essence of entrepreneurship is the desire to improve something – either the general quality of life by bringing a new product/service to the market, or an existing product/service in itself – finding a cheaper way to bring more quality to the table.

Want to earn money? Go be a stockbroker and grind, grind, grind. Want to bring a quality product into the world; a product that will help people and have you rightfully earn money for it? Think about starting a business.

Are you ready?

Sure, being your own boss looks great on paper, especially to someone who’s used to doing mindless work and picking up their salary on a regular basis, but it’s really a double-edged sword. You get to create your own schedule and run your own thing – make key decisions and serve as the foundation of the business. On the other hand, creating your own schedule is much more difficult than it sounds, not everyone is capable of making decisions under pressure, and the foundation carries a lot on its shoulders.

On the bright side, if reading this hasn’t really scared you, chances are that you are more than competent to run things – this, of course, requires experience and practice, but then again, what rewarding thing doesn’t?

Being a people person

You can’t become an entrepreneur if you aren’t a people person – it’s simply impossible. If you aren’t keen on and willing to truly and truthfully work with other people, well, then perhaps entrepreneurship isn’t really up your alley. However, you probably already knew this, and the fact that you’ve gotten to this point in this entry means that you are already somewhat of a people person.

At the very foundation of any business lies networking; or, in other words, knowing the gist of the trade: money isn’t the only currency out there, and it’s the service-for-service transactions that actually broaden and deepen the connections between businesses. Establishing and nurturing a relationship with everyone from your employees and customers to other businesspersons is the essence of entrepreneurship.

You can’t do everything by yourself

Your set of roles, as an entrepreneur, is diverse, to say the least, but you aren’t required to specialize in everything. The burden of an entrepreneur is a weighty one, however – knowing the basics of every single position and occurrence within a business is nowhere near easy. For example, unless you have a degree in law, you should outsource a lawyer, but make sure that you still know the basics of the goings-on within the legal aspects of your business.

Additionally, hiring a multidisciplinary team is a great idea – for instance, there are companies that can offer you agents, specialists and lawyers, as well as a reliable tax accountant in Sydney – find this type of a legal/financial team to help you tackle your business’s economic, legal and financial aspects simultaneously.

Celebrate

If you really are cut out for running a business, you’re going to be satisfied with all the success that you achieve, but without celebrating, the entire experience is nowhere nearly as rewarding. Don’t be afraid of celebrating every successfully completed goal – congratulate your team, but more importantly, congratulate yourself – don’t be afraid to feel proud.

Finding the true source of motivation, coming to terms with what it takes to be an entrepreneur, working on your people skills and not letting the sheer weight of responsibility weigh you down are the pillars of business success. Oh yeah, and don’t forget to celebrate success – you’ve earned it!

About the Author

Diana Smith is a full time mom of two beautiful girls interested in topics related to business and technology. In her free time she enjoys exploring new low cost advertising opportunities.

 

Remember Why You Started Your Business

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Thoughtful woman working at homeCreate moments to remind yourself why you are in business because your reason or your ‘why’ will help to drive your vision forward. Reconnecting with the core values and genuine passion for the industry you are in; will anchor you when the turbulence of the business seas seeks to challenge your very existence. Being in business requires steadfastness and flexibility; industry awareness; singular focus; personal accountability and reliance on the team. IT also requires clarity as to one’s business heritage and cultural sensitivity.

Understanding the value system of guanxi is a basic requirement of engaging in business in China. Relationships (guanxi) are the foundation on which business partnerships progress. They are built over time, open doors that would otherwise be closed and influence all aspects of business / social interaction.  Building relationships are equally important in the United States, New Zealand, United Kingdom, Indonesia and islands of the Caribbean yet the emphasis and prioritisation are different. There is a respectful order that is sequential to conducting business in China and failure to understand this process may hinder business growth. The ritualisation surrounding the exchange and handling of business cards in China does not have the same significance for business people based, for example, in Melbourne, Australia.

A major part of staying afloat in business comes from the willingness to appreciate the nuances, diverse business practices and other idiosyncrasies of those with whom you intend to make money. Even though there are certain global basics for running a business; there is no monopoly as to how business is conducted. Business is still conducted, first and foremost, between people – with the use of technology, practices, procedures etc. Respecting how, when and why prospective partners operate will prove useful to the longevity of your related vision.

Let’s look at another example to reinforce this point under consideration. Global trade reports were recently aglow with pictures of Canadian Prime Minister Justin Trudeau and his family during their trip to India where they visited symbolic locations such as Mahatma Gandhi Ashram in Ahmedabad and the Taj Mahal. It is of particular significance that the Trudeaus posed for the media in traditional Indian attire and offered the clasp handed greetings of ‘namaste’. One may dismiss this as mere political posturing, however, the value of such a gesture will nurture positive relationships between Canada and the trade super power that is India.

  1. Remember your ‘why’
  2. Give back
  3. Review your progress

Philanthropy is as important as building mutually beneficial relationships. Yes; you may get tax breaks through charitable giving or making major donations but there is also the human or higher cosmic level to consider. Giving of your time, money or experience reflects the humanity of your business which then taps into your unlimited ability to share your skill sets in this universe. The more you give to the universe; the more the universe gives back to you. Companies that thrive also understand the emotional currency and goodwill that’s generated from supporting other communities and being charitable. A company like Nespresso works alongside the Rainforest Alliance in accordance with their commitment to high quality and environmental sustainability. They source some 40% of their coffee from farms certified by the Rainforest Alliance and some 80% from sustainably rated farms. The size of your company should only impact the extent of your involvement – not whether you get involved.

Immersing yourself in the joy of your business vision is heightened by the collective focus of the team you are a part of. We achieve more together. The mindset of doing everything yourself is as ridiculous as it is futile. Engage with your equally qualified team to build your business then review your progress at certain intervals with the clarity that is necessary. This is your business, therefore, degrees of honest assessments and corrective actions are mandatory. Systems and procedures ensure consistency whilst serving as a check and balance to raise awareness of any problems. Pause to reset your time lines. Review where you are as a company. Use all the available skill sets to cultivate business growth and… keep enjoying the process.

About the Author

Malik Muhammad was raised and educated in Jamaica, read law in London and is the conceptualiser of The Empowerment Mastery System.

Malik enjoys vegan cooking, quad biking, jazz and yoga. He is an after dinner speaker, workshop facilitator and convenes international & corporate inspirational seminars.

Malik is the host of online talk show ‘Reasoning Sessions’ and specialises in sharing self-empowerment strategies with diverse and multi-faith audiences.

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Ways to Increase Productivity at Work

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Business man in suit and glasses standing near the office. Side viewOne of the questions that people keep asking themselves, both in context of their work and private life, is how to be more productive and use their resources more efficiently. All of us like to feel that we’ve done our best and accomplished what we set out as our goal, especially when it comes to our professional life. Naturally, there’s no formula that can be applied, but you should rather think of this problem as a mixture of various obstacles you need to overcome.

Depending on how successful you are, you’ll be more or less satisfied with your progress. Some of the steps you should take might involve changing some old habits, and we all know how difficult that can be. Here are just some tips that can make you a more productive person at work.

Changing working hours

If your working hours force you to use public transport or drive to work during the busiest period, you must be quite frustrated with the amount of time you spend commuting. Since you are most likely unable to do any work while travelling to and from work, perhaps you could consider arriving to work early and leaving early to beat traffic.

When you don’t waste time commuting, you are less frustrated and hence more eager to deal with the tasks waiting for you. It’s always a good idea to deal with the most complicated ones first, while you’re still fresh.

Take five… or more

In order to maintain a high level of motivation and effectiveness, you need to take regular breaks during work. Sometimes all it takes is a five-minute break, during which you’ll leave your office and return ready to work again, but sometimes it might take a bit longer.

For example, you could consider having your lunch in a nearby park or anywhere outside the building, instead of the canteen or kitchen. Some fresh air will do you good and you’ll definitely be more efficient upon return.

Plan ahead

In order to minimise the chances of having poor time management, you should always plan your day ahead. Spending just a few minutes planning your next day is bound to save you much more time when you go to work, because you’ll know exactly what tasks you have and in which order you’re going to deal with them. So, it’s not enough just to list them, but you should also prioritise them, so that you know which things are urgent and which no so much.

Make your office pleasant to be in

Many studies have been conducted about this and the conclusion is almost unanimous – having a nicely designed work space contributes to your productivity by making you feel better and, consequently, more eager to work. So, if you introduce some nice plants or a top-quality rug, not only will you feel better, but you’ll be more efficient, too.

Eliminate distractions as much as you can

Distractions are one of the biggest problems we face at work. From phone calls you have to listen to or take to loud conversations that have little to do with your job, but you simply can’t avoid them. Finally, there are social media and the Internet, sometimes too tempting to resist.

While you can’t completely eliminate distractions, you can minimise them significantly. For example, if you take your headphones with you, you can listen to your favourite songs instead of your colleagues’ irrelevant chit-chats. Also, you have to be disciplined and avoid using social media at work, since they are likely to consume too much of your time.

Basically, if you really want to be more productive at work, you have to analyse your behaviour first and identify room for improvement. Once you do all you can, think about how other factors influence your productivity and see if there’s something you can do to minimise their effect.

You may not be able to change everything at once, but it’s important that you keep trying. Also, don’t expect that you’ll become the most productive and efficient person overnight. Learn to appreciate every sign of progress and celebrate it. That will motivate you to continue working towards becoming a more productive and better person.

About the Author

Carolin Petterson is a businesswoman and content marketer with years of experience under her belt. She has had the opportunity to contribute to a number of popular business and marketing websites.

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12 Cool Office Supplies and Gadgets You Must Have in Your Workplace (Infographic)

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According to recent statistics, the average westerner spends around 99,117 hours at work during his lifetime which is the equivalent of 11 and a half years of solid slog. You have to face it, your office is your second home, and it’s probably a good idea to make it fun, inspiring and cozy. With these gadgets and must-haves, you’ll have everyone in the office wondering how so much win could possibly come from one person!

To help you do that, we’ve picked 12 awesome things and gadgets to bring back fun and inspiration to your workplace again!

12 Cool Office Supplies and Gadgets You Must Have in Your Workplace (Infographic) - An Infographic from Panda Paper Roll

Embedded from Panda Paper Roll

3 Tech Ideas to Give Your Office a Productivity Boost

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One of the most common misconceptions regarding productivity is that it is all about motivation and morale around the office. Another component of productivity is the issue of adequate tools for the job. Regardless of the industry, those who provide high-end equipment to their staff usually see not only rise in overall proficiency and quality of end-product but also the improvement in the above-mentioned morale. So, here are three tech ideas that can give your office a significant productivity boost.

Dual monitors

The first major tech upgrade you could conduct is the installation of dual monitors for most of your staff. According to some of the latest studies, having multiple monitors can have a significant impact on one’s productivity. The greatest difference here can be seen in areas of data entry, product comparisons and coding. Aside from this, any form of research can be done much more effectively, if the person conducting it can look at the source material while typing. Sure, some may argue that switching between windows takes only a fraction of a second but the significance of the loss of focus that occurs during this period is nearly impossible to quantify.

Silent peripherals

In the previous section, we discussed how improving employees’ equipment can make them more productive. However, can the same thing be achieved by gearing-up their colleagues? While most people are more than accustomed to the sound of keyboard typing and mouse clicking in 2017, if you try to multiply this by 20, 30 or 50 times, you are going to have an incredibly noisy office. This can be particularly distracting for those on creative tasks, which is why switching to silent peripherals might be the right course of action. Apart from silent keyboard and mouse, you might also want to look into providing everyone with a set of their own noise-canceling headphones or earbuds.

Visual presentation

If we’re speaking numbers, there is an estimation that an average office spends about 31 hours each month on meetings. Seeing as how this is the time you are keeping your employees away from their core-tasks, you are bound to encounter a massive drop in productivity. There are two ways to fight this. First, you need to eliminate all non-essential meetings and replace them with a circular email. Second, those meetings you do need to hold should be well-structured and to the point, in order to be time-saving. This can be achieved through a quality visual presentation. Needless to say, these two methods work best in combination.

For this, however, you would have to invest in an HD LED, LCD or Plasma TV. While this may not be the case in most companies, some startups struggle with the issue of free space in their conference room. You can hire professionals from TV installation Sydney based company and have your high-end flat mounted either way. That will leave you with a lot more room to work with. On top of it all, this will also give your meeting room a modern look, which is always good to have in mind, especially if you intend to bring in potential partners or clients for a presentation.With the help of these three tech ideas alone, you can help your company unleash its full potential and encourage your employees to give it their best. Keep in mind that this boost in productivity isn’t something you alone will be able to notice. By outperforming their own previous records, your employees might gain a better intrinsic motivation, which is definitely not something you should underestimate.

About the Author

Diana Smith is a full time mom of two beautiful girls interested in topics related to business and technology. In her free time she enjoys exploring new low cost advertising opportunities.