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Jon Mertz

What Is the Best Mindful Business Strategy?

Mindfulness garners a lot of recent attention. Wisdom 2.0, a conference that blends mindfulness with technology, leadership, and culture, hosted over 2,400 participants earlier this year. Attendees come from all over the world to learn and engage in developing meaningful mindfulness practices.

A new area for mindfulness is how business strategies are developed. Strategy development and mindfulness are a great combination, and the best mindful business strategy starts with a simple concept – Be present.

Being present is a simple idea. However, many businesses are not present, especially when it comes to making a decision and moving forward with a strategy. The next generation of leaders are using mindful practices to gain meaningful results.

Strategically Stuck


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About the Author

Jon MertzJon Mertz is one of the Top 100 Thought Leaders in Trustworthy Business and highlighted as one of the Leaders to Watch in 2015 by the American Management Association. He also is the author of Activate Leadership: Aspen Truths to Empower Millennial Leaders. Jon serves as vice president of marketing at Corepoint Health. Outside of his professional life, Jon brings together a community to inspire Millennial leaders and close the gap between two generations of leaders. Follow him on Twitter @ThinDifference or Facebook /ThinDifference

Stuart Cross

The End Of Long-Term Planning

At the end of a particularly long and grueling strategy meeting with the executive team of a major consumer services business, Alan, the chief executive officer, turned to me and said, “Living quarter by quarter is madness, but in a few years’ time people will laugh at us for developing three-year plans.” He was right. With the pace of business change today, driven by technology and globalization, long-term plans last about as long as an ice storm in the desert. As military experts put it, plans rarely survive contact with the enemy.

Despite these new realities, many executive teams remain stuck with 20th-century approaches to strategy development. It is still common for companies to take six months or more to develop their new growth strategies. This prolonged, inefficient and largely ineffective approach — involving colossal data analysis projects, the creation of a series of 100-slide decks, and periodic executive meetings where directors are presented with findings and recommendations to comment on – may suit consultants looking to maximize fees, and even some executives who want to look as if they’re in control, but it does little to help businesses succeed in fast-changing markets.


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About the Author

Stuart CrossStuart Cross helps market-leading businesses such as Walgreens Boots Alliance, Masco Inc. and Aimia Inc. to accelerate growth. His new book, First & Fast: Outpace Your Competitors, Lead Your Markets and Accelerate Growth, is out now. Find out more at www.morgancross.co.uk.

Theo Etzel

Strategic Plan(ning) for Organizations: Reviewing, Refining, Repeating

Proper alignment between your values, your vision, and your company is important in steering your company. Making strategy a process rather than a statement is a key to success.

Focus on the process, not the plan


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About the Author

Theo EtzelW. Theodore “Theo” Etzel III is the author of Invest Your Heartbeats Wisely: Practical, Philosophical, and Principled Leadership Concepts for Business and Life. He’s a native Floridian and president and CEO of Conditioned Air which he grew from a $2.7 million operation to a $46 million, 330-person organization.

What You Need to Take Your Company into the Global Marketplace

What You Need to Take Your Company into the Global Marketplace

What You Need to Take Your Company into the Global Marketplace
Photo courtesy of Pixabay

A lot of people like to develop their companies into national brands. But, then they are unsure of how to grow or expand any further. Becoming an international brand is really a sign that you have ‘made it’. So many business owners are unsure how to take their companies to this coveted next level. These are just a few of the things necessary to take your company into the global marketplace.

Vision

Expanding a brand and taking it international is an exact science. It needs to be done properly at the first time of asking. It’s essential that you get it right so you have a successful transition. The ways to do this is to have a strong and clear vision of what you want to achieve. All business owners need to have a vision, and that should be applied here as well. Whether you’re trying to launch a product like a rock star or come up with a business plan, you need vision. With the right vision, a person can accomplish anything. And by working towards your business vision, you will find success in the foreign marketplace.

Money

One thing you will need when it comes to international expansion is money, and lots of it. The cost of running a business is high, but that’s the price entrepreneurs pay for working for themselves. But, the costs of taking a company into the global marketplace are even higher. Sometimes it will be necessary to take out a business loan to help with the transition. Visiting the Business Lender Match website and other sites provide information on business loans. You shouldn’t attempt to globalize your company without having the necessary capital behind you.

Diverse Staff

When attempting to crack the foreign market it’s important to equip your business accordingly. One of the best courses of action to take would be to ensure a diverse staff base. Think about how beneficial it’s going to be to grow the business in a country where you have people who understand the language and culture. This is so essential in helping you succeed and tackle any issues you may face from the global marketplace. So try to start integrating these staff into the business as soon as you can.

Versatility

It pays in the business world to be as versatile as possible. The best businesses are those who grow through evolution and adaptation. It’s pretty clear that the world is changing at a rapid rate. And, for your business to succeed it will need to change with the industry, and the economy. So, always attempt to ensure you have the most versatile business you possibly can. This is the key to how you develop and grow. In the foreign marketplace, it’s even more pivotal to be adaptable and versatile. You may need to change elements of your brand in order to succeed so you must be prepared to do that.

There comes a time in business when it is necessary for growth and expansion. Many companies reach this juncture but are unaware of how to proceed because they haven’t planned. If you harbor ambitions of cracking that elusive foreign market anytime soon so you should plan your strategy as soon as possible.

Choose the Best Equipment for Your Business with These Quick Tips

Choose the Best Equipment for Your Business with These Quick Tips

Choose the Best Equipment for Your Business with These Quick Tips
Photo courtesy of MathKnight

Every business needs some kind of equipment to run. For some it might be computers, for others, it could be heavy machinery. Whatever equipment your company needs, you need to take the time to select the right products. There are several factors you need to take into consideration when you’re deciding. The initial and running costs are important to think about, and so is the efficiency of your business. You don’t want your equipment to slow down productiveness or to produce less than desirable results. Before you make any decisions, take these essential factors into account.

Deciding Whether to Lease or Buy

When you have to buy expensive equipment, you should think about whether you want to rent or buy. Cost is obviously the primary factor in choosing which one is best for you. If you want to buy, you’ll have to have a large sum of money up front. If you decide to rent your equipment, you can make smaller payments. However, you may feel that this is money going to waste. In some cases, you might have the option to rent to buy, meaning you will eventually own the equipment. You need to think about other factors too, however. For example, leasing means you can keep up with developing technology more easily.

Consider Your Requirements

Before you settle on what you’re looking for, you have to have a think about your requirements. It’s best not to start by looking at what other companies use and recommend. That can come later, but for now, it could lead you in the wrong direction. Different businesses have varying needs, so you can’t just copy someone else. You need to think about what you need your equipment to do. Which are the most important factors? Is it how fast they can do the job for which they’re intended? Is it their lifespan and how easy they are to maintain and repair?

Choose the Best Equipment for Your Business with These Quick Tips
Photo courtesy of Mixabest

Think Beyond the Purchase Cost

If cost is important to you, don’t just consider the initial price of your equipment. There is rarely a piece of equipment that won’t also cost you money to run and maintain. It’s essential to look beyond the base price and work out a lifetime cost of using something. For example, fuel efficiency is critical for heavy plant operations. It wouldn’t be much use if you saved on machinery but then had to spend a lot of money on fuel. A cheaper option could require repairs more often too, which would raise the lifetime cost of the equipment.

Comparing Your Options

Once you know what you’re looking for, you can start comparing what’s available. One of the best ways to make it easier is to look for comparison sites. You can also go to manufacturer and supplier websites, where they often have a product comparison function. Choose your most important factors to consider so you can weigh your options against each other.

Choosing the right equipment is essential for your business’s efficiency and bottom line. Make sure you put some time into your decisions.