Feedback is necessary for improvement, especially in one’s business. While positive reviews are always welcome, one cannot avoid getting unsavoury comments as it is not all the time that customers and clients have happy experiences with a service or product. When this happens, how do you deal with them?
How do you retain good employees?
This is a question that many business owners and managers often ask as having good employees and retaining them are important to running a successful business. There are no easy ways to do it, so we sought the help of some members of EO Melbourne on their experiences and best practices that may also be helpful to other entrepreneurs.
Meirav Ambar, Partner at Trendtrade International, Malcolm Bean, Director at Beanmkrgy Pty Ltd., Rahul Kale, Director at Sunpower Renewables, Aaron Smith, Founder of KX Pilates, and Lauren Staley, Managing Director of Infolio Property Advisors shared some of the things they do on how to keep good employees within their team.
Mentorship: Accelerating growth by learning from others’ experiences - The Salt & Fuessel’s experience
We have always come across this quote by Jordan B. Peterson: “Experience is the best teacher, and the worst experiences teach the best lessons.” Although the hard lessons are those you experience yourself, there are ways to avoid the common pitfalls and save yourself from losing time and money by learning from the experiences of others. It can only be done if you devote enough time listening to and learning from the story and lessons of those who are ahead of you in the entrepreneurial path.
Managing the daily influx of emails – is it possible?
Email is one of the necessary means of communication, especially in business. With a lot of official messages, personal matters, spam and email threads where you are copied, how do you ensure that you don’t waste too much time going through your inbox without missing out on the more important ones? It may not be too much of a deal but there are repercussions when you fail to read an urgent message, while there are also consequences when you spend too much time on your emails than on other pressing issues.
Do the universal laws play a part in business?
By Tui Cordemans
A few months ago, I overheard two entrepreneurs discussing holidays. One of them said to the other, “Didn’t you just have a holiday, you always seem to be on holiday. I can’t remember when I was last on holiday.” The other one responded by saying, “That is why you are more successful than me, mate.”
I couldn't help but intervene. I laughed and asked, 'Isn't having a life where you always feel as if you are on holiday a sign of great success?” They both stared at me and then laughed as if to say 'good point' .... made complete sense to me!
How to become an impactful public speaker
Every entrepreneur has a good story to tell. But, how do you tell a story and make a difference? How do you deal with stage fright? How do you make sure that you create an impact every time you come in front of the audience? Some of our EO Melbourne members share how they overcome this fear and make sure that their story and learnings reach their audience effectively.
We’ve got help from Appscore Co-Founder and Managing Director Alex Louey; Punchy Digital Media Managing Director Anthony Lam; WooHah Productions Founder and Director Arosh Fernando; DWM Solutions Director/General Manager and Professional EOS Implementer Jeni Clift; and Foundr Magazine CEO and Publisher Nathan Chan, who shared with us their learnings on how to become an impactful public speaker.
Ways to motivate your staff at work: 5 tips from EO Melbourne Members
One of the factors of a successful business is having a strong and dedicated team that keeps the organisation running like a well-oiled machine. However, no matter how passionate, hardworking and talented your people are, they still experience exhaustion, burnout, boredom, frustration, disappointment and all other things that may slow down or hinder your progress.
Your workforce is an important asset of your business. It is just fitting that you look after their welfare and keep them motivated at work to inspire them to do their best, perform well and hit their targets. EO Melbourne members share various ways on how to encourage your team members and inspire them to keep going.
EO: A strong business support system during challenging times
“Alone we can do so little; together we can do so much.” – Helen Keller
A few years back, no one has ever imagined that we would be experiencing this tough global crunch that we have today. Every corner of the world has been affected by the pandemic, affecting many industries and economies. It is undeniable that it has also taken a lot of toll on business owners.
Mentorship Story: Reflecting from the rearview mirror to drive forward on the entrepreneurial highway
To be a better leader – this is the goal this year of James Murray, Founder and Managing Director of Work Healthy Australia. And for him to drive himself forward in achieving this goal, he recognises the value that the mentorship program is offering entrepreneurs like him, who aims for continuous personal and professional growth.
James is thankful to have Steve Sacks, Chairman of Sonnant, as his mentor because of the value that their relationship has brought to James’ professional development. “My journey for my self this year is to become a better leader, which means to become a better listener. Steve has been very helpful. Even if I've only changed 1% or 2%, I attribute a lot of that to some of my conversations with Steve because he's just such a good listener,” James professed.
3 different ways innovative entrepreneurs use cryptocurrency for their business
As the online space and financial world merge more and more and break boundaries, the interest in cryptocurrency is increasing by the minute. People looked into it as a way of boosting their financial resources. As its popularity rises, cryptocurrency has become an option for entrepreneurs to use in their business. How can it be done?
While many cannot still wrap their heads around this new concept, we tapped into the expertise of EO Melbourne Member and Nugget’s News Executive Director Ben Simpson, who shared with us his thoughts on the subject matter.
On trends and predictions: how it will help chart your business growth
Setting targets and goals is an important part of keeping a business running. It provides the team with the direction of where the company is heading and allows them to come up with strategies based on the objective set. Looking ahead may include forecasting, which helps gauge if the target is attainable and feasible within the given timeframe and resources on hand.
Entrepreneurs prepare for the future by looking at trends and coming up with a prognosis of what is to happen. EO Members share how they keep themselves updated on the latest trend in their industry.
The path of entrepreneurship through acquisition
When we talk about entrepreneurship, the first thing that comes to mind is starting a company from a garage. However, there are various ways towards a successful business journey, and one of these paths is entrepreneurship by acquisition. Top-level universities and business schools like the Harvard Business School, Columbia University, The University of Chicago, and Duke University, among many others, even offer Entrepreneurship by Acquisition in their curricula.
Entrepreneurs' biggest lesson learned in 2020
The year 2020 may be one of the most challenging times that everyone, including entrepreneurs, has experienced. Despite the hardships we experienced due to COVID-19 that has disrupted many lives, the hurdles and struggles have also brought us a lot of lessons and learnings, especially to business owners who have to survive for their teams, families, customers and other stakeholders.
EO Members share the biggest lesson they learned from the previous year, with the hope of taking their learnings with them as they move forward in their entrepreneurial journey.
A Reflection: EO Melbourne’s “Our Best Year Yet!”
In retrospect to the year 2020 and how it has become one of the most challenging years in modern times, EO Melbourne Past President Kym Huynh recalls how it has affected the chapter and highlights the lessons that the experience has brought to him.
“Think of that one thing that when you achieve it, will make you want to jump up on the table, pop open a bottle of champagne, and start dancing.” This was the picture that Kym painted when he wanted people to consider what needed to happen for the 2019/2020 year to their best year it. It also coincidently happened to be the EO Melbourne’s 2019/2020 theme.
Level Up Your Life
Having clarity of vision and developing the habits, tools and life-hacks to bring your BHAG into fruition this 2021 and beyond
As we leave 2020 and all its challenges behind, it is but apt to make 2021 a year where we level up our lives and set our minds to accomplish the things we want to achieve. Often, the big question is: where do we start? The “how” can be quite daunting.
To help entrepreneurs achieve their full potential and enable transformational growth in the lives of its members, EO Melbourne recently held the virtual workshop “Level Up Your Life” where OAK Journal Founder and EO Colorado Member Keith Roberts shared the tools, structure and habits
to reach one’s limitless potential through its 90-day structured OAK Journal.
Motivational quotes from EO Members from around the globe
A great way to start the new year is to take inspiration from entrepreneurs who have faced so many challenges and made through them through their passion and determination. Whether it’s a little push to keep you going, a new idea that you can bring to your journey or a thought that will let you take a giant leap, these nuggets of wisdom will help guide you moving forward.
Bring out your inner warrior to confront an uncertain 2021
By Tui Cordemans
Instagram posts are full of inspiring optimism for 2021. We just couldn’t wait for 2020 to end and for 2021 to start. It is as if something magical happens when one year turns into another. Hence, we make New Year’s resolutions. But why do we have to wait for a New Year? I don’t know about you, but I have never had a New Year’s resolution come to fruition unless I have worked hard at making it happen. Things do not magically transpire just because one year turns into another.
What quirky hobbies do entrepreneurs have?
Hobbies can help an individual learn new things, acquire additional knowledge, declutter the mind, bond with people who share the same interest, and warm the heart. Hobbies are beneficial to the physical, mental and emotional well-being of a person, especially to entrepreneurs and business leaders.
Intriguingly, some entrepreneurs have quirky hobbies that show us their fun side that we do not get to see most often. EO Melbourne members share their interests when they’re not on their laptops immersed in their business.
Have you ever wanted to chat with a real-life hacker?
Due to restrictions on physical movements to contain the spread of COVID-19, more and more activities and transactions have moved from the physical space into the virtual space. As online transactions flourish and become more widespread, the threat to cybersecurity and privacy also becomes more prevalent.
Small and medium enterprises are not exempt from such risks and probable attacks. Concerns like these are what Adam Bennett and his team in Red Piranha are trying to address. They are white hat hackers, also known as ethical hackers, who are the good guys that break into computers and devices to test an organisation’s defence against the bad guys.
3 Valuable Traits for Leading People
Being a leader often requires one to wear several hats, portray different roles and attend to so many responsibilities. Having the right skills and qualities can help leaders to lead their team towards their goals. Johann Odou, Founder and Director of Vumero and Executive Director of Sports Tech World Series shares the three most valuable traits he believes are needed in leading people successfully.