Critical decisions can be tough to make in the business world. Rational decisions are important when we as humans tend to be highly emotional. However, there is a model to help those who have to make these difficult choices daily in the workplace. This guide can make the process less stressful and help you come up with clear solutions that are the best. Here’s how it goes:
Don’t Be a Car Salesman: Best Sales Practices for Your Brand to Follow
Ahh, sales. Nobody loves it. Well, maybe some people do. Those people are born with a certain knack for it and are probably in roles that are specific to that. However, if you’re an entrepreneur, sales are part of your job to grow your business and it may not be where your strengths lie. It is a necessary evil, and a very important one at that to drum up new business and succeed. If you’re one of these people, do not fret, there are some tactics that you can take to keep up with best practices in sales. Here are some of our tips.
SWOT Analysis
Can you tell me 3 strengths of your brand? What about 3 weaknesses? If you hesitated, had to stop and think for an answer, and maybe found one minute later then you can benefit from SWOT Analysis. SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. This is a tool to analyze the aspects of your brand to help it improve, grow, rinse, and repeat. Some benefits of conducting a SWOT analysis are:
Tips to Help You Calm Nerves Before Giving a Big Presentation
We recently wrote an article with some tips to become a better public speaker, which is very important in business. But, no matter how many times you have given a big presentation, your nerves most likely won’t go anywhere. This is a good thing. It means that you care. You want it to go well. That said, sometimes the anxiety can cause you to bomb or affect your confidence. So, how do you calm your nerves down before presenting? Here are some ways to help curb the nervousness that comes along with public speaking.
1. Focus on deep breathing: Take deep breaths in through the nose and out through the mouth. A good 4-second count in and out as you breathe. This helps regulate your heart rate, blood pressure, and stress. You can do this before, during, and after speaking.
The 10 Kawasaki Slide Method
Guy Kawasaki is a world-renowned entrepreneur who created a list of 10 slides to pitch your business idea to investors. He used to be the Chief Evangelist of Apple and currently Canva. Rob Schwartz recently did a blog on this idea, and we loved his breakdown. Guy follows the 10-20-30 rule. 10 slides, 20 minutes, and 30-point font. Here are what these 10 slides are all about.
1. Title: Who are you and what is your idea? First impressions go a long way here so it must be impactful. This is where all contact information should be and don’t be afraid to add s headline, image, or photo.
Successful Business Partnerships
A business partnership is like a relationship. Success depends on communication, negotiation/compromise, collaboration and mutual investment. Turns out, “65% of businesses fail due to conflict and relationship breakdown between partners,” according to Harvard Business School. Both relationships and business partnerships are complicated so it’s important to follow some guidelines in order to be successful.
Decision Making in Business
We’ve all had to make tough decisions in life at one time or another. Whether it be in our professional or personal lives, the process is always the same. It always involves identifying the goal, collecting all the relevant information and finally, weighing out the options to make the best choice. The benefit to making sound decisions is that they will stand the test of time, they weigh out all possible outcomes, they can eliminate conflicts of interest, it creates less second-guessing and provides somewhat of a roadmap. There are so many types of decision-making models out there. Ethical, formal, 5/6/7/8 step processes, analytical hierarchy process, rational, managerial, etc. The list goes on and on. Your goal can help determine your process. Let’s just look at the 8-step decision making process as an example.
Economic Cycles
“Change is the only thing that is constant”
-Heraclitus
Economies cycle between expansions and contractions naturally. These changes are due to employment levels, interest rates, supply and demand, etc. There are four stages in the cyclic pattern: expansion, peak, contraction and trough. Expansion is when GPD is increasing and unemployment is decreasing. The peak is a turning point in which output begins to decrease. Contraction or recession is defined as output decreasing and unemployment increasing. The trough is where recession ends and output begins increasing again. We can dive a little deeper into the characteristics each of these.
Neurodiversity in the Workplace
Did you know that 15-20% of people are estimated to be neurodivergent? We know, it sounds like something from the movies, but it is a real term. It describes, “the idea that people experience and interact with the world around them in many different ways; there is no one ‘right’ way of thinking, learning, and behaving, and differences are not viewed as deficits,” according to Harvard Health. This includes conditions, such as ADHD, dyslexia, Asperger syndrome, dyspraxia and autism.
The Sum of Averages: Become the Best Professional Version of Yourself
“You are the average of the top 5 people you spend time with”
-Jim Rohn
We’ve all heard this quote from motivational speaker, Jim Rohn, but how true is it really? We were curious about this so we did a dive into the research and this is what we found. As it turns out your social circle does directly affect you and the kind of life you have, professional and personally. However, it is not limited to the top five people that you spend the most time with. It extends further than that.
Tips for Teamwork
While some groups put in teams may just hit it off and have a smooth work flow, others may not. While we wish the first scenario for you, it’s important to have ways to help your company teams be successful if they are having difficulties. Research shows that having a collaborative team leads to better outcomes, the team members are more likely to take calculated risks leading to innovative ideas, and finally, increased job satisfaction with reduced work stress. Teamwork really does make the dream work!
Objectives & Goals
What is the difference between a goal and an objective and how can the two work together? Well, let’s start by defining each one. A goal is long-term and typically a broader outcome whereas an objective is short-term and more specific. An objective can help a brand achieve a goal. They are different but can objectives can assist goals if used correctly. So, what are the main differences between goals and objectives? Well, let’s take a quick look.
Creating a Case Study for Your Business
What is a case study? It’s a report of a brand’s implementation of something, such as a service, system, practice or product. It is a detailed account of something that your brand did from the beginning to the end. Let’s start by talking about what makes a good case study. First, you want something that is digestible. This means you communicate your story quickly and efficiently without any boring jargon. Second, although you want it to be unambiguous, you still want to convey the study in its entirety, so it must be thorough. This brings us to the last key point, good storytelling. You always want your viewer to be intrigued and interested in the content.
Setting Business Goals in the New Year
Chances are that in your personal life you’ll be setting some new goals for the new year! We know we are. But why stop there? You’ve obviously had a vision for your business since the beginning so how can you make it what you’ve always dreamed? Well, the answer is goal setting and a plan of action. You will never achieve your dreams by keeping them inside your mind. All dreams were once a thought that were then made into a reality through planning! We’ve all heard the saying, “your dreams won’t work if you don’t,” and as clique as that sounds, it’s very true.
How to be a Learn-It-All
No one likes a know it all, especially in a business setting. A fixed mindset can even be dangerous to an organization. Those with this type of mindset struggle to admit their weakness/mistakes and cannot handle when they’re pointed out. They tend to have a “my way or the highway” attitude. They believe that abilities are innate and fixed. The opposite of this is a growth mindset, where one thinks that anything can be achieved through effort. It’s finding out what you don’t know and being open to new ideas as well as admitting your faults in order to better yourself. They believe that intelligence, abilities and talents are learnable and improvable. They welcome a good challenge because they understand that it can teach them something. A growth mindset is important in order to become a distinguished and influential leader.
We understand that some may want to adopt this way of thinking but may not be sure where to start. We comprised a list of ways to develop a growth mindset. Growth mindset values learning despite the risks more than others thinking that we know what we’re doing. Here are our tips.
1. Determine if you have a fixed mindset. If you already have a growth mindset then you just may need to improve on the thoughts that you already have. Listen to your inner dialogue to help you understand. For example, if you get some negative feedback on your work what does your inner voice say? Does it say, “That’s ok! I must need to learn more about this topic,” or does it say, “I must not be good at this!” if the answer was the first one then you probably have a growth mindset already. If your answer was the second then you may need to work on your inner voice to adjust it to a growth mindset. Try to embrace yourself without judgement when your inner voice speaks. Think about what you would say to a friend if they came to you with your situation. What would you say to them?
2. Embrace your imperfections. Our imperfections are what make us each unique. This is also an important act of self-love. Don’t seek approval from others and learn to trust yourself. An honestly, who cares what other people think! Comparison is the thief of joy!
3. Take risks despite fear. Fear is natural when learning something new. The difference between someone who has a fixed mindset and one that doesn’t is despite being afraid they choose to do it anyway. Consider the challenge as an opportunity to learn something new: a skill, something about yourself, etc.
4. Be realistic. You’re not going to get everything right the first time and chances are if you’re learning something new failure will happen. That’s ok. Failure is a great teacher. Instead of thinking as failures as a weakness, think of it as a lack of understanding that can be improved. How can you understand something deeper? Now, try again.
5. Look at examples. Look at your past examples of successful learning. Look at other peoples. What is something that you’re better at now that you weren’t in the past? How did it go from being difficult to easier? What did you do? Use others as examples. When was there a situation where you’ve seen someone else succeed against all odds? What did they do?
This list is by no means exhaustive but should be a starting point for if you’re trying to get started on improving your growth mindset. Continuous learning will not only better develop the growth mindset, it can shift your thinking to a more positive one. I always say that if you’re not good at something that just means you should be doing it more it. Chances are it’s something that you need to better develop. Challenging yourself in this way will teach you many things about who you are as you improve your “learn-it-all” mentality.
Customer Retention Strategies
Almost 65% of a business comes from repeat customers. That’s a big chunk of revenue. It’s also cheaper to retain customers than it is to get new ones. Customer satisfaction is greatly linked to retention numbers but there are some strategies to consider on top of this.
Business Podcasts for Advertisers
Did you know that listening to podcasts can stimulate multiple parts of your brain, such as an adrenaline rush or releasing endorphins? (UC Berkley, 2016). Podcasts have been quite the popular topic recently and we know that we listen to one every morning. It’s a great way to learn, cut down on screen time and support small businesses. Whether you’re looking to learn something specific, meditate or just be entertained, there is something out there for everyone. This short will comprise of our top 3 recommended advertising podcasts.
Developing a Solid Business Strategy
Ensuring a Great Brand Reputation
While in our personal lives, we agree that Joanne Jett got it right, from a business stand point your brand’s reputation is everything! Building your brand is hard enough and ensuring that its reputation remains intact requires work, but the stronger it is, the more your audience will trust you and become ambassadors for you for a lifetime. So, what influences brand reputation?
Pareto Principle
I’m sure you’ve all heard of the 80/20 rule but probably not in the way we mean for this article in terms of economics. The 80/20 rule states that 80% of your results come from 20% of causes. It was observed by a man named Vilfredo Pareto in 1896. This principle explains the correlation between effort and outcome. So, how can this be applied to business? Using this technique can help prioritize tasks that are of highest impact throughout your work day. Here are a few detailed ways that you can use the Pareto Principle in your business.
