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THE EO BLOG

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7 EO members share how to mitigate rising transportation costs and shipping delays

20 May, 2022

Global supply chain issues, increased transportation costs and shipping delays are an ongoing post-pandemic problem. How is that impacting businesses when failure is not an option? We asked EO members from various industries about the solutions and strategies they have implemented in response to these significant challenges. Here’s what they shared:

Take creative actions

“Our small business has absolutely been impacted by higher transportation costs and shipping delays. We’ve taken creative actions to mitigate the damage:

  • Broken down pallets into individual boxes to secure shipping lanes because palletized air freight is being given to larger high-volume companies.
  • Utilized lesser-used ports, other modes of shipment (air, rail), or a mix—to diversify the risk.
  • Developed dual suppliers for critical items where we were previously dependent on a single supplier. We strategically put redundancy in the US in case of China lockdowns.
  • Increased safety stock held at both our warehouse and suppliers, creating a buffer should certain items become unavailable.
  • Secured supply for all of 2023, because our German-made materials may be impacted by the Russia/Ukraine war. The carrying cost is offset by buying 2023 materials at 2022 pricing.”
—Eric Griffin, EO Philadelphia, Co-founder and CEO, Mobile Outfitters

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Categories: Best Practices Crisis OPERATIONS STRATEGY

Tags: Alicia Chong best practices Blu Monaco Brandon Bethke CandyPros entrepreneurs' organization eo austin eo colorado eo dallas eo orange county EO Philadelphia EO San Diego Eric Griffin Farm to Ned Insp!red Mike Bacile Mobile Outfitters Ned & Co Ret Taylor Shari Hammond Susan Hallak The Daily Java

5 reasons your online product needs a UPC barcode to succeed

18 May, 2022

Entrepreneurs are increasingly launching new products via their own websites and well-known online marketplaces. While it can be challenging to navigate the nuances of selling online, sellers must learn the requirements of e-commerce platforms before listing their products. One critical step is uniquely identifying items in the global marketplace—which can be done by acquiring authentic UPC barcodes for each of your products.

Entrepreneurs should consider the following five reasons why a unique barcode for each product listing opens doors to greater success.

1. GTINs uniquely identify products online

Retailers and marketplaces recognize that the product identification numbers encoded into UPC barcodes, called Global Trade Item Numbers (GTINs), are essential for listings to uniquely identify products and help keep track of inventory. And not just any GTIN (or barcode) will do —it must properly and uniquely identify the items you are selling and connect you as the brand owner to the product.

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Categories: Best Practices OPERATIONS Sales

Tags: ecommerceChris entrepreneurs' organization entrepreneurs' organisation GS1 GS1 US GTIN Leah McHugh Mederer Michelle Covey Rob Silver Rowyn Golde ShannonKveton Team Manticore

5 steps to avoid cybersecurity complacency

13 May, 2022

While you’re likely aware of the dangers of an unprotected IT system, it’s easy to think that a cyberattack or data theft won’t ever happen to you. But that level of complacency puts businesses at increased risk of falling victim to criminal activity, which could be devastating from both a financial and reputation perspective. 

Whether you work alone, in a startup or as part of a large organization, it’s essential to stay on top of your cybersecurity game and protect any areas of your business that are especially vulnerable to an attack. 

Here are five steps to reduce your risk of becoming complacent in your cybersecurity efforts. 

1. Stay educated

Ensure that every team member is knowledgeable about significant threats and basic trends in cybersecurity. You can achieve this in many ways, such as through an accredited course on cybersecurity for IT systems staff, and by encouraging all employees to attend credible e-learning courses. You might integrate current articles and news updates in a weekly newsletter for your team. Your team can utilize many online resources to stay educated on the risks. Knowledge is power; that’s never been more true than when it comes to cybersecurity—the more you know, the better protected you are.

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Categories: Best Practices Technology

Tags: Annie button cybersecurity entrepreneurs' organization

3 important financial tasks it’s easy to lose sight of

11 May, 2022

Entrepreneurs never struggle with a short to-do list—the responsibilities of a business owner are immense. Most do their best to avoid focusing heavily on small details but may end up ignoring important aspects of business, especially when it comes to the organization’s finances.

Typically, owners focus on propelling their company’s growth by finding new customers and assembling the team and technology they need to manage and service that growth. This makes sense, as the top concern for small businesses in the US (many having scraped by throughout the pandemic) continues to be generating enough revenue.

Beyond these immediate pressures, business owners often don’t take time to think about changing their business practices unless the outcomes would directly affect customers or increase ROI. However, prioritizing long-term projects can significantly improve business health and set up the business for a more financially sound future.

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Categories: Best Practices FINANCES

Tags: 401(k) best practices business exit planning entrepreneurs' organization Matt Baisden Plancorp

4 steps to creating a standout marketing binder for conferences and trade shows

6 May, 2022

Contributed to EO by Vladimir Gendelman, an EO Detroit member and founder and CEO of Company Folders, Inc., an award-winning online printing company that has helped over 5,000 businesses print more than 20 million presentation folders. The company made the Inc. 5000 list of the fastest-growing private companies in America for three consecutive years. Vladimir has shared his expertise to help entrepreneurs get the most for your printing budget and save big on custom-printed materials. Here he explains how to design your ideal presentation folder for upcoming events:

Few business events present as many opportunities to connect with customers one-on-one as trade shows and conferences. In-person events are a big investment, and to get the best return on that investment, it’s crucial to send prospects home with compelling information about your offerings.

As you prepare for your next event, these tips will help you craft a marketing binder that will draw in your audience, make a first-rate impression, and ensure they remember you when they’re ready to do business.

1. Plan your presentation

Start by analyzing the materials you’ll put in your binder—size, dimensions, number of sheets. This will pick the right size cover and rings and determine whether you need pockets.

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Categories: Best Practices PR/MARKETING

Tags: company folders entrepreneurs' organization eo detroit marketing Trade Shows vladimir gendelman

Top 10 Aha! moments from GLC 2022 in DC

4 May, 2022

Contributed by Ethan King, an Entrepreneurs’ Organization (EO) member who has served in many leadership roles within EO, including chapter president of EO Atlanta. He is a bestselling author, keynote speaker and co-founder of Zeus’ Closet, in addition to running businesses in apparel, fitness, e-commerce and real estate. As a GLC Influencer, Ethan shared his GLC 2022 experience in real-time on EO’s Instagram during the Washington, DC portion of the event. We asked him to share his top GLC moments:

Last week, I attended the Entrepreneurs’ Organization (EO) Global Leadership Conference (GLC) in Washington, DC. This was my eighth GLC event. As a 20-year entrepreneur who attends lots of conferences, GLC continues to deliver the most transformative experience every year. With so much happening, it can be tough to document every single aha moment, but here are my top ten from GLC 2022:

1. How to improve your memory

One of EO’s core values is “thirst for learning.” Jim Kwik taught us actionable ways to learn and retain more information. For example, use the acronym MOM to help you remember names:

  • Motivation—Ask yourself, “Why is it important that I remember this person’s name?”
  • Observation—Be silent; pay attention to what the person is saying.
  • Methods—Upgrade your brain by eating brain foods, getting proper sleep, exercising and managing stress.

2. How to become a supermodel

Miranda Naiman from EO Tanzania interviewed Tyra Banks. One of the questions that resonated with me the most was, “How do you go from being a model to a supermodel?” Tyra’s answer surprised me. The ‘super’ in “supermodel” comes not from luck and good genes, but rather from a deliberate business strategy. Start with the end in mind. Tyra’s mother observed that a traditional modeling career has an expiration date, so she encouraged Tyra to broaden her personal brand influence through movies, television, her talk show and business ventures. Now Tyra is respected as a business and thought leader first, transcending the stigma of being only known as a model.

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Categories: BUSINESS GROWTH Coaching Entrepreneurial Journey LEADERSHIP Lessons Learned

Tags: Advance Your Reach Brian Smith Dan Pink Daniel Pink entrepreneurs' organization eo atlanta EO Poland EO Romania eo sydney EO Tanzania Ethan King GLC 2022 Global Leadership Conference Global Speakers Academy Jim Kwik Lisa Andrews Mick Ebeling miranda naiman Not Impossible Pete Vargas Tyra Banks UGG Australia Wealth Beyond Money

How to protect hybrid work cultures from proximity bias

29 April, 2022

Contributed by Dr. Gleb Tsipursky, CEO of the boutique future-proofing consultancy Disaster Avoidance Experts, which helps forward-looking leaders avoid dangerous threats and missed opportunities. A best-selling author, his newest book is Returning to the Office and Leading Hybrid and Remote Teams. We asked Dr. Tsipursky how leaders can address proximity bias in the new normal of hybrid work culture. Here’s what he shared:

Of the many changes accelerated by the pandemic, remote and hybrid work schedules are one that has created ongoing waves of adaptation across businesses worldwide. Employees in the same organization now often operate on vastly different schedules—some working in the office full time, some with hybrid schedules, others fully remote. Differences in work styles and schedules can understandably lead to resentment around flexibility and job performance.

The danger of a sense of resentment building up between “haves” and “have nots” around schedule flexibility is a reality. It calls for a work culture that acknowledges such issues. Savvy leaders recognize that they must address proximity bias as they adapt their work culture to the hybrid and remote future of work.

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Categories: Best Practices OPERATIONS PEOPLE/STAFF

Tags: best practices Disaster Avoidance Experts entrepreneurs' organization Excellence from Anywhere Gleb Tsipursky hybrid work culture proximity bias

How to improve meetings

Why your team needs scheduling software: Microsoft Bookings vs. Calendly

27 April, 2022

How to improve meetingsContributed by Dan Izydorek, EO Detroit. Dan is a partner at ITS Detroit and chief revenue officer of Intelligent Technical Solutions, which helps growing businesses fully leverage technology to improve business efficiency. Dan and his team shared their expertise on how scheduling software can improve productivity—and which ones are best. 

In an ideal world, scheduling important business meetings is as easy as saying: “See you at 3pm!” In reality, it’s more like playing a twisted game of Tetris, where you spend too much time arranging and adjusting schedules, hoping the pieces fall into place. 

Trying to corral people with varying workloads, deadlines and schedules into one time slot can be overwhelming. The constant back-and-forth eats up a lot of time—around 4.75 hours per workweek on average, according to a Hubspot white paper.  

Consider how many meetings you (and your team) organize or attend each day, and that time adds up quickly. In an average employee’s 48 working weeks a year; if they spend 4.75 hours per week planning meetings, that’s 228 hours per year! And that’s the time spent arranging meetings, not attending them.

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Categories: Best Practices BUSINESS GROWTH OPERATIONS Technology

Tags: Calendly Dan Izydorek entrepreneurs' organization eo detroit HubSpot Intelligent Technical Solutions ITS Detroit Microsoft Bookings

7 EO members share the best business advice they ever received

22 April, 2022

Contributed by Kym Huynh, an EO Melbourne member, EO Global Communications Committee member, and co-founder of WeTeachMe. Kym is fascinated by entrepreneurs and their journeys, so he asked EO members from various chapters to share their experiences. Read his earlier posts on what EO members wish non-entrepreneurs knew about entrepreneurs, how EO members define success, the impact of core values and lessons learned from their best and worst partnerships.

Here’s what seven EO members shared when asked, “What is the best business advice you ever received?”

If I outgrow you, I will fire you!

“If I outgrow you, I will fire you!” These were the words of one of my first clients in the early days of my advertising agency. I took these words seriously, and I committed to applying that idea to every team member, vendor and future client.

Our advertising agency became very good at advertising for our clients, but the real business we were in was growth; growth for our team members, growth for our clients, and by default, growth for our business.

— Arnie Malham, EO Nashville, founder, Better Book Club; author and speaker, Worth Doing Wrong

Inspect what you expect

When I was in retail many years ago, my boss at that time would repeat ad nauseum a simple and clear message: Inspect what you expect. In practice, she would “walk and talk” the sales floor and inspect all the expectations she had shared the day prior.

This taught me that we all need parameters. I learned that it’s important to be clear about our expectations and that our teams work hard to deliver on those expectations. Therefore, we need to revisit them, praise when accomplished, or course-correct when needed.

—Katty Douraghy, EO San Francisco, president, Artisan Creative

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Categories: general

Tags: Arnie Malham eo colorado eo johannesburg eo melbourne eo nashville eo san francisco katty douraghy kym huynh Marc Gutman Richard J Bryan Ross Drakes Steven Ziegler

10 entrepreneurial superpowers at work in Eastern Europe

20 April, 2022

Contributed by Dr. Carrie Santos, CEO of Entrepreneurs’ Organization

In late March, Entrepreneurs’ Organization CEO, Dr. Carrie Santos, traveled to Poland and Romania, along with EO’s Chairman of the Board, David Anderson, to support the selfless volunteer efforts of EO members from Poland, Romania and greater Europe, who are sharing their time and resources with thousands of Ukrainian families displaced from their homes. They met with some of these members, as well as other compassionate, agile entrepreneurs from around the world, who are—together—stepping up to support people in this time of great stress and need. Here is what Carrie shared upon their return:

Although my professional background is largely in humanitarian and refugee relief work, in these times when we see so much suffering and growing need displayed in heart-aching color across our television and computer screens, I have to remind myself that the Entrepreneurs’ Organization is not in the business of disaster response and relief. Yet, we are a global fellowship of leaders trying to move the world forward by unlocking the full potential of entrepreneurs. We are bound by a set of shared values and an impulse to act.

It was so moving to see the many members of EO taking time away from their own businesses and using their problem-solving skills to create solutions for the refugees who are fleeing the violence in Ukraine. This agility and innovation is exactly what’s needed right now and will be essential to alleviate the human suffering, while governments mobilize (often more slowly).

As I walked through the makeshift shelters in Bucharest and Warsaw, spoke with some of the women, children and elderly people whose lives have been so upended, and watched the truckloads of supplies coming in to lend comfort, I was struck by the unique talents of entrepreneurs to create solutions in chaos. Here are 10 of those entrepreneurial superpowers at work in Eastern Europe to benefit refugees from Ukraine.

1. Value autonomy, freedom and self-control

We used our voices to remind the world that refugees are people. And we don’t just put people in camps without options to move forward. We want them ready for recovery. That’s the goal.

I noticed striking parallels between how both displaced people and entrepreneurs strive for freedom, autonomy, and control in their lives. Even in the face of extreme tragedy, this is what people need most. It’s fitting that entrepreneurs are helping to empower these strong people.

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Categories: Crisis Impact LEADERSHIP Make a Mark

Tags: Carrie Santos dave anderson David Anderson entrepreneurs' organization entrepreneurs' organisation EO Poland EO Romania EO South East Europe Max Caradja Johnson

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