The EO Blog

How to Tell Your Partner You Want to Quit Your Job and Start a Business

22 March, 2023

Are you considering a leap into entrepreneurship? Many professionals quit their jobs to launch new businesses during the Great Resignation. However, giving up a reliable paycheck to start a business is a risky choice, even with convenient access to expert business counsel and other tools that the internet affords.

Leaving a job to start a business can be overwhelming. In 2022, 50.5 million people changed or quit their jobs—more than the 47.8 million who did so in 2021. Some jobs are easy to leave, but breaking away can be difficult.

Have you reached the tipping point where it’s time to let your spouse or life partner know that you’re leaving your job–but find it difficult to start the conversation? Or have you tried talking about your dreams of something more fulfilling and ended up fighting instead?

It can be tempting to either avoid “the talk” or resign yourself to the miserable job until you can’t take it anymore. Or, you can turn the conversation into a healthier and more productive one, even if your partner has concerns. The goal is to reach a point where you both feel good about the outcome.

Tips for communicating entrepreneurial intentions to your life partner

As you’re preparing to venture into entrepreneurship, focus on what you can do to facilitate understanding from your spouse or life partner. Here are some steps to help you build bridges rather than destroy them:

1. Be honest.

Be honest with yourself and your partner about your reasons for quitting your job. Writing out your reasons is an excellent way to show your partner that it’s not just a spur-of-the-moment choice. A written list can also boost your confidence during the discussion.

Sometimes our partners don’t genuinely see how unhappy we are at work, especially if it looks like a perfect job on paper. Explain why starting a business is so important to you. Furthermore, when you have a clearer idea of your next step, you can show and explain why that next career or business is essential as opposed to the old one. That comparison alone can make a huge difference both for you and your partner.

2. Listen to your partner.

As with everything else in a relationship, it’s important to make sure your partner feels heard and understood on the topic of a career change. Simply taking the time to listen and give your partner room to ask questions or voice concerns can ease tensions tremendously. When your spouse feels heard, they will be more likely to offer support and guidance as you navigate this career change.

3. Make a solid plan.

It’s possible that your spouse will be more concerned with the how of your decision, which can trigger your fears that your business plans won’t succeed. Setting aside the “hows” early on is essential, but don’t ignore them altogether—that can create conflicts later on and stop you from pursuing your dreams. This may be tricky because the “how” is often precisely what your partner wants to talk about. Ensuring that your partner knows you have a business plan and are committed to it will go a long way toward gaining their support.

It’s a smart move to make a plan that addresses how you would handle some of their concerns. For example, would you commit to saving a specific amount of money before leaving your job?

4. Protect your emotions.

Your career change is a huge transition that can come with many ups and downs. Whether you feel sure about your next move or have no idea what to do next, you may experience times when you feel down about the whole process. Figure out ways to relax and take care of yourself that enable you to think clearly, such as listening to music, exercising, or getting out in nature — maybe even with a Yellowstone river rafting adventure!

5. Practice gratitude.

The whole process can cause stress and strain for your partner, so express gratitude for any support they have given you along the way. It’s important to determine the best ways to show your partner gratitude as well. Is it enough to just say thank you, or do actions speak louder than words? Try to find specific, actionable ways that show your spouse how much you appreciate them in a way that resonates with them.

As an entrepreneur, making that leap doesn’t scare you; it excites you. The thought of creating something from nothing or joining a team to build something from the ground up has driven you from fantasy to determined action. All you need to do is convince your partner. Do so by clearly stating your plans and motives upfront, then reiterating how going into business together may even benefit you both.

Contributed to EO by Patrick Sipp of Flying Pig Adventures, who gets his clients back into the outdoors, where the spray of the river, the warmth of the sunshine, and the immensity of the world around are clear and present. The company’s most recent trip includes horseback riding and river rafting by Yellowstone National Park. Patrick is a family man who has turned his passion for the outdoors into a gateway for his guests to experience adventures unlike anything else.

Categories: general STARTUP

Tags: entrepreneurs' organization Flying Pig Adventures Great Resignation Patrick Sipp

How To Leverage Video Content To Enhance Internal Communications

17 March, 2023

The way you speak and express yourself provides vital context to internal communications (IC), making it easier for your team to understand the message. Therefore, no matter what your organization is up to, video content can enhance your communications strategy.

Internal videos can make a positive impact in most areas of operations—from helping coworkers figure out complex new software via charming animated explainer content to kindly reminding them to adhere to new policies and processes with a funny, informational video guide.

But creating compelling video content to use internally can be tricky. You need to generate practical pieces to get results, but you also need to understand what the medium is (and isn’t!) suitable for.

Let’s examine the ins and outs of using video to enhance internal communications, and how to make the most out of your video communications.

Waving hello: Do we really need better internal communications channels?

By delivering crucial announcements on behalf of management, creating a transparent recruitment and onboarding process, and allowing two-way communication between a corporation and employees, IC is one of the most critical factors that most successful companies share.

With one clear goal in mind—ensuring adequate information circulation—companies have tried every communication format available, from telegrams to online meetings. Adapting video content to help fulfill and enhance this process is the next logical step.

How video can overhaul internal communications

Whether you’re preparing new employees for their first day at work, training them for a possible medical crisis, or sharing company values to nurture brand loyalty, video content is the most effective medium to deliver your message in memorable ways.

When it comes to internal exchanges, staff need to know what you’re trying to convey, how that message relates to them, and what steps they should follow based on the information presented in the video.

That’s the premise behind an effective internal communications pipeline. But what makes video content the smart choice?

The fact is, we’ve grown used to never-ending email chains and online meetings as a part of everyday business. But a high-quality, 60-second corporate training video can engage your workforce and get results like no Slack thread ever could.

To video, or not to video: That is the question

If you’re wondering whether your message is worth a video, consider its relevance and potential impact.

Companies turn to video content for a handful of reasons which all benefit from the quirks and perks of a clean-cut production. Internal video content shares similarities with online courses that are readily accessible to all team members. Not only will they learn something new or get updates on relevant topics, but also they’ll always be able to go back and view said videos if they forget something.

By creating an engaging video that brings essential topics to life, you avoid the drawbacks of text-based comms and ensure crucial information is heard and acted upon more consistently.

Bridging physical distance with video

Video content accomplishes a lot toward building a cohesive brand voice able to spread worldwide. By creating a clear way to distribute company-wide announcements, even across different branches, your content will reach those working from home and in different time zones as effectively as if they were right next to you.

Great videos go a long way toward nurturing interest despite the absence of in-person interaction. Moreover, if you want to make your message the talk of the town, videos can make announcements memorable. Most employees will remember a nicely produced, short-form video designed to speak to them on a personal level long after they are done watching.

Lastly, getting accurate feedback from your team shouldn’t be taken for granted. Videos can help generate opportunities for a two-way, individualized conversation, even in remote work settings, offering emotional context that might translate constructive criticism better than a long, heavy-worded email.

Get your point across: Tips on making the perfect internal communications video

While it can be easier to ignore a few emails, a good internal communication video is designed to nurture a certain degree of engagement. So, let’s review a few tips that make internal videos pop and generate the attention and reaction your company needs for this type of content.

Determine what you want to achieve with your video. Are employees in need of a soft skill boost? Are you looking to expand your team and onboard the latest draftees? From FAQs and announcement videos to corporate recruiting and training, the medium acts as a flexible tool you can customize to your needs.
Remember who your target audience is, and that crafting a perfect video for internal communications equals adding a dash of humanity to otherwise dull content. Consider adding emotional touchpoints that resonate with viewers. A bit of humor can spruce up monotonous content, and a heartfelt conversation gets people paying attention.
Leverage the power of clips of leaders and team members, even selfie-styled, recorded with a cell phone or webcam. Something as simple as brief clips of employees answering questions or delivering information where it’s needed can go a long way.

It’s time to start leveraging video content to keep information circulating within your company and overhaul the way your staff communicates.

Rely on personalized, simple and straight-to-the-point video messages to enhance your internal conversations—you won’t regret it.

Contributed to EO by Victor Blasco, an audiovisual designer, video marketing expert, and founder/CEO of the explainer video production company Yum Yum Videos. Besides running the business, he’s a lifelong student of Chinese philosophy and a passionate geek for all things sci-fi.

For more insights and inspiration from today’s leading entrepreneurs, check out EO on Inc. and more articles from the EO blog.

Categories: Best Practices Company Culture PEOPLE/STAFF Productivity Video

Tags: entrepreneurs' organization internal communication Victor Blasco Yum Yum Videos Yumyum videos

EmpowHER Your Mindset: How Women Entrepreneurs Can Overcome Negative Thoughts To Stay Motivated

15 March, 2023

In March, EO recognizes and celebrates women entrepreneurs with its second annual EmpowHER virtual conference, which focuses on the specific challenges women in business experience. Women entrepreneurs will learn from experts how to navigate the three pillars of every woman entrepreneurs’ life: business, family and self.

Miranda Naiman, a 7-year EO Tanzania member and an unstoppable force for good, is the founder of Empower, a disruptive consulting firm that passionately provides talent, advisory and insight services to clients across the African continent. Miranda is Board Director of CRDB Bank Plc and Board Chair of the African Women Entrepreneurship Cooperative that empowers hundreds of women from across the continent. She is Board Vice Chair of CCBRT Hospital and an active member-leader of the Entrepreneurs’ Organization where she serves as Chair of Global Learning. We asked Miranda to share the importance of mindset for women entrepreneurs:

Antifragility has become the beacon of entrepreneurship in recent times. As business owners, we are not only expected to bounce back from adversity but have now increased our capacity to thrive as a result of stressors, shocks, volatility, rejection, mistakes, faults, attacks, or failures.

A quiet moment of instimacy with any entrepreneur will confirm the obvious: It’s extraordinarily hard work. That, juxtaposed with the adrenaline rush we get from closing deals, nurturing teams, building brands and scaling to new markets. Thank God for EO Forum, where we get to share our 5% life highs and lows with fellow entrepreneurs in a confidential environment of zero judgement and no advice. Experience-shares enlighten and shine guiding light in the recesses of our minds when we may feel trapped and alone.

Overcoming negative thoughts is part of what makes us human; we are imperfect, after all. Controlling—and eventually eradicating them altogether—is a crucial piece of work we need to do; in my humble opinion, it is the highest form of self-care to have a healthy, balanced mindset.

Here are seven common—and unhealthy—questions we may ask ourselves on those dark days, and in the spirit of experience-sharing, my way of dealing with them to mark seven years as an EO member:

1. Do I deserve to be here?

The short and simple answer is: Of course you do! However, it’s important to recognise that Imposter Syndrome is a legitimate mental state where an individual doubts their skills, talents, or accomplishments and has a persistent, internalized fear of being exposed as a fraud. I stay focused on my why and remind myself that I am qualified, valuable, and contributing positively. My core values of Stay in the Light, Feed the Family, and Service Before Self are my true North. Everything else falls into place from there.

2. How did she get there?

Comparison can inevitably lead to jealousy. When you waste energy looking left and right instead of staying focused on the path in front of you, you will lose ground. I learnt early on in my entrepreneurial journey to “run my own race” and never succumb to comparison. We are all uniquely brilliant irrespective of what the next person is doing. I relish celebrating others’ wins—it gives me joy and motivates me to keep forging forward.

3. Is there something wrong with me?

Self-deprecation only works if you are a stand-up comedian entertaining a crowd. All other attempts to attack, unpick or unravel yourself merely cause self-harm. STOP crippling yourself; catch yourself when it happens and reverse the narrative: I accept myself wholly and unconditionally.

4. It’s lonely at the top

A cliche realisation but an honest one. The more hats you don, the more thinly spread you become, thus making it harder to connect and forge deep connections with people. Where awareness goes, energy flows; it is your choice where to invest your time, energy and attention—growth will mean fewer, deep relationships and limitless acquaintances. Know the difference and cultivate deep connections that matter to alleviate loneliness.

5. I can’t juggle all the balls

Societal pressure—on women in particular—can be unforgiving. Being an entrepreneur juxtaposed with being a wife, mother, sister, daughter, auntie (my fave!), board director to multiple organisations, coach, mentor and volunteer can weigh us down. All these glass balls are important, yet we shouldn’t be afraid to intentionally put one of the balls down (even temporarily) for our own sanity. Juggling should be enjoyable and mutually beneficial; if not, you might be holding a lead ball.

6. I’m a terrible Mum

I won’t be the first or last woman to say that mum-guilt is real! Those of us raising children while scaling businesses will face numerous situations where we are wracked with guilt. Work-travel; getting home late; missing school appointments, you name it—these things will happen. Quality over quantity is how I navigate Motherhood. Love deeply, be truly present in your child’s company, and communicate intentionally.

7. I’m in the way

Founder’s block will begin to lurk after a number of years—what got you here won’t necessarily take you there. Having founded Empower 14 years ago and working passionately with my partners and team to diversify and scale the business to market-leader, it will soon be time for me to step aside. Recognising the need to allow “fresh blood” to lead the business to higher heights presents a unique opportunity to reinvent yourself. Watch this space.

Don’t miss the third installment of EO’s 2023 EmpowHER virtual series on 21 March. EmpowHER invites women entrepreneurs to hear inspiring stories from fellow founders—including Randi Zuckerberg, founder and CEO of Zuckerberg Media and former head of marketing at Facebook; Aanchal Bhatia, founder of Sydenham Clinic; Hannah Vasicek, founder of Francesca; and Helle Thorning-Schmidt, former prime minister of Denmark—during a series of virtual events that are free and open to EO members, EO Accelerators, their companies, and prospective EO members. Register today!

On 21 March, former Prime Minister of Denmark, HE Helle Thorning Schmidt, will share her unique perspective on how women face certain professional barriers others don’t. She will speak to the imperative need to learn to recognize biases in ourselves so that we can overcome them and become truly inclusive leaders. This seminar is free and open to anyone, upon registration. Sign up here to EmpowHER today.

For more insights and inspiration from today’s leading entrepreneurs, check out EO on Inc. and more articles from the EO blog.

Categories: Entrepreneurial Journey Inspirational WOMEN ENTREPRENEURS

Tags: empower EmpowHER entrepreneurs' organization Helle Thorning-Schmidt imposter syndrome miranda naiman

Stay Ahead of Crisis PR with ChatGPT: The Secret Weapon for Business Leaders

10 March, 2023

Contributed to EO by Eden Gillott, an EO Los Angeles member and president of Gillott Communications, a strategic communications and Crisis PR firm. She’s the author of A Business Owner’s Guide to Crisis PR: Protecting You & Your Business’ Reputation, and serves as the EO Los Angeles chapter’s Accelerator co-chair. We asked Eden how AI-powered language models such as ChatGPT can help entrepreneurs manage Crisis PR. Here’s what she shared:

As entrepreneurs, we all know that crisis is a part of life. Whether it’s a product recall, lawsuit, disgruntled employee, or social media scandal, how your company handles a crisis can make or break your reputation. That’s why it’s essential to have a solid Crisis PR plan in place. But how can you stay ahead of the game?

One way is by leveraging the power of technology, specifically AI-powered language models like ChatGPT. These tools can help you navigate a crisis, communicate with your stakeholders, and ultimately protect your reputation.

EO members have already shown great interest in ChatGPT—from Zoom presentations with Sagar Pandya (EO Chicago) to WhatsApp groups launched by various members, including Quan Gan (EO Los Angeles North) and social media posts by so many more members.

As a friendly reminder, the benefits and considerations covered in this post are not a comprehensive list by any means! Think of them as a jumping-off point—like the first pancake in a stack that’s always a little wonky but still delicious. Use them to spark your creativity and develop even more ways to leverage technology in your Crisis PR plan. Happy brainstorming!

Benefits of Machine Learning in Crisis PR

Here are three benefits of leveraging tools such as ChatGPT as part of your Crisis PR strategy:

Reduce communication packet turnaround time. When a crisis hits, every second counts. That’s why it’s essential to communicate with your stakeholders as quickly and efficiently as possible. With ChatGPT, you can draft statements and responses that can be reviewed and enhanced by your Crisis Team (legal, marketing and communications, crisis PR professionals, etc.) This can help you craft messaging consistent with your brand’s voice and values. Think of it as Mario (as in Super Mario Bros.) using his power-ups to navigate through the different challenges while staying true to his mission.
Predictive modeling. ChatGPT can analyze a vast amount of data to predict how your stakeholders might react to a crisis. By using machine learning, ChatGPT can forecast how a situation might affect your brand’s reputation and provide you with data-driven insights. It can help you make informed decisions about responding to a crisis and minimizing its impact on your business.
Crisis simulation. One of the best ways to prepare for a crisis is to simulate one. ChatGPT can help you create a list of likely crisis scenarios so you can practice your response. It can help you identify gaps in your Crisis PR plan, improve your messaging, and build your team’s confidence. With enough practice and preparation, you can become as skilled at your Crisis PR response as Mario and Luigi are at jumping and fighting their way through the Mushroom Kingdom.

Avoid Potential AI-Powered Pitfalls

While ChatGPT is a helpful tool for Crisis PR, there are a few things to watch out for:

Confidential information. Beware of inputting confidential, proprietary, or privileged information that could harm your company if it becomes public. Just as you would exercise discretion and carefully consider what you put into an email or text, consider the potential consequences of sharing your company’s sensitive information online.
Lack of personalization. While ChatGPT can help you craft messaging quickly and efficiently, it’s essential to remember that Crisis PR requires a personal touch. Stakeholders want to know that you care about their concerns and take their feedback seriously. That’s why it’s crucial to balance the speed and efficiency of ChatGPT with the personalization that comes from working with a (human) PR professional.
Overreliance on technology. While ChatGPT can provide you with data-driven insights, it’s essential to remember that it’s just one tool in your Crisis PR toolbox. When navigating a crisis, human judgment, intuition, and experience are valuable assets. ChatGPT can help you make informed decisions, but it’s crucial to remember that it’s only one part of the puzzle. Just like Mario needs to collect at least eight red coins to get the Vanish Cap (aka temporary invisibility), you need to consider all aspects of your Crisis PR plan to ensure your brand’s reputation stays strong and, with luck, your crisis appears invisible (at least temporarily).

Crisis PR is not just about putting out fires. It’s about being prepared, being present, and being proactive. By using AI-powered tools such as ChatGPT, you can stay ahead of the game and protect your brand’s reputation. Just remember to balance the efficiency of ChatGPT with the personalization, human judgment, and ethical considerations essential to successful Crisis PR. It’s like playing a video game: Sometimes you need a power-up, but you still need to be the one holding the controller.

Don’t miss EO’s 2023 EmpowHER virtual series on 7, 14 and 21 March (the first three Tuesdays of the month). EmpowHER invites women entrepreneurs to hear inspiring stories from fellow founders—including Aanchal Bhatia, founder of Sydenham Clinic; Hannah Vasicek, founder of Francesca; and Helle Thorning-Schmidt, former prime minister of Denmark—during a series of virtual events that are free and open to EO members, EO Accelerators, their companies, and prospective EO members. Register today!

For more insights and inspiration from today’s leading entrepreneurs, check out EO on Inc. and more articles from the EO blog.

Categories: PR/MARKETING Technology WOMEN ENTREPRENEURS

Tags: ChatGPT Crisis PR Eden Gillott entrepreneurs' organization EO Chicago eo los angeles EO Los Angeles North Gillott Communications Sagar Pandya

EmpowHER: EO Members Share How Businesses Can Better Support Family Life

8 March, 2023

In March, EO recognizes and celebrates women entrepreneurs with its second annual EmpowHER virtual conference, which focuses on the specific challenges women in business experience. In each one-hour session, women entrepreneurs will learn from experts how to navigate the three pillars of every woman entrepreneurs’ life: business, family and self.

We asked EO members how the workplace could and should change to improve women’s lives and empower better balance in regard to family. Here’s what they shared.

End the bias toward working moms

There’s a common belief that mothers can’t handle the amount of work it takes to succeed in upper management positions. This impacts current mothers as well as young female professionals who fear that choosing to have a child could limit their professional opportunities. I appreciate that moms are being more transparent about choosing help with their “second shift” as we see women taking a higher number of the top seats in corporations. The more we hear about the experiences of successful women, the less shame others will feel for following in their footsteps.

Removing the biases around working mothers would have a lasting impact on the workplace.

— Megan Milar, EO Cincinnati, CEO, The Garage Group

Shift toward more inclusive and diverse workplaces

As a woman CEO, I believe that we need to eradicate the culture of sexism and discrimination from businesses. We must ensure that all individuals, regardless of gender or any other aspect of identity, are given equal opportunities to succeed and thrive in the workplace and in business.

This means implementing policies and practices that promote diversity, equity, and inclusion. A shift toward more inclusive and diverse workplaces and suppliers where individuals from different backgrounds, ethnicities, and genders can thrive and succeed. This would benefit not only employees but also the business, as it would bring different perspectives, ideas, and ways of thinking to the table.

Finally, let’s end the notion that there is only one way to succeed in business. We need to embrace and celebrate different leadership styles, perspectives, and approaches. This will not only make businesses more inclusive and innovative but also create a more just and equitable society overall. Finally, we need more women on boards and in leadership.

— Amanda Ma, EO Los Angeles, CEO, Innovate Marketing Group

Offer flexibility and work-from-home options

Many of our employees are working mothers, and we’ve found the most significant way we can support their needs is by offering flexibility.

If kids need to be dropped off at school, come in after that, and work a couple hours later. If kids need to be picked up from school, it’s ok to start early and leave work early. As long as the work is done and we can all schedule meetings at dependable times, that’s what’s important.

We encourage people who don’t need to be in the production or fulfillment department to work from home, so that affords even more flexibility in caring for children (especially helpful during the pandemic). Ultimately, we’re a start-up, so we have the freedom to define how we want things to work, and we want to support flexibility.

— Danielle Vincent, EO Reno Tahoe, co-founder and CEO, Outlaw

No more Mom Guilt

As a woman CEO, I am too familiar with the pressure and guilt that comes with balancing motherhood and a career. The expectations placed on us as mothers and leaders are often unrealistic and unattainable, leading to feelings of inadequacy and guilt. It’s time for businesses to recognize the toll that mom guilt takes on women and their ability to thrive in their careers.

We need to shift the narrative from the idea that women must choose between being a “good mom” or a “good leader”. It is possible to be both, and businesses need to recognize and support this reality. This means providing flexible work arrangements, parental leave policies, and resources for working parents.

Additionally, we need to address the stigma that still exists around working mothers. Women should not be made to feel guilty for pursuing their career goals while also raising a family. We need to create a culture that celebrates and supports working mothers and recognizes the unique skills and perspectives that they bring to the table.

By eradicating mom guilt from the workplace, we can empower women to excel both as mothers and leaders. It’s time for businesses to step up and create a more inclusive and supportive environment for working parents.

— Becky Feinberg-Galvez, EO Chicago, CEO, Candor Threads

Stop making assumptions

Let’s eradicate gender biases about roles and responsibilities from the workplace. This means we should stop making assumptions and ask more questions. Let’s stop assuming that a woman should make the coffee or that a man should assemble new furniture. Let’s stop assuming that fathers are not responsible for childcare. And let’s stop assuming that only women should be taking parental leave.

We can help make the workplace more equitable by providing paid family leave for all employees, regardless of gender or parental status. And when leave is taken for parenting, we can encourage both mothers and fathers to take advantage of it and share in the responsibilities of raising children. These policies and practices recognize that every employee is an individual who brings their own talents and unique challenges to the workplace, neither constrained nor fully defined by their gender. And when we are finally able to do this, we will make work better for everyone.

— Kristen Prinz, EO Chicago, Founder and Managing Partner, The Prinz Law Firm

Don’t miss EO’s 2023 EmpowHER virtual series on 7, 14 and 21 March (the first three Tuesdays of the month). EmpowHER invites women entrepreneurs to hear inspiring stories from fellow founders—including Randi Zuckerberg, founder and CEO of Zuckerberg Media and former head of marketing at Facebook; Aanchal Bhatia, founder of Sydenham Clinic; Hannah Vasicek, founder of Francesca; and Helle Thorning-Schmidt, former prime minister of Denmark—during a series of virtual events that are free and open to EO members, EO Accelerators, their companies, and prospective EO members. Register today!

On 14 March, entrepreneur Aanchal Bhatia, founder of the Sydenham Clinic, will share insights on How to be the CEO of your family, and Hannah Vasicek, founder of the jewelry brand Francesca, will speak on How to live a time-rich life. This seminar is free and open to anyone, upon registration. Sign up here to EmpowHER today.

For more insights and inspiration from today’s leading entrepreneurs, check out EO on Inc. and more articles from the EO blog.

Categories: WOMEN ENTREPRENEURS WORK-LIFE INTEGRATION

Tags: Amanda Ma Becky Feinberg-Galvez Candor Threads Danielle Vincent EmpowHER entrepreneurs' organization EO Chicago EO Cincinnati eo los angeles EO Reno Tahoe Innovate Marketing Group Kristen Prinz Megan Milar Mom Guilt Outlaw The Garage Group The Prinz Law Firm

Why the Key to Solving Burnout Is Creating a Culture of Openness

7 March, 2023

In March, EO recognizes and celebrates women entrepreneurs with its second annual EmpowHER virtual conference, which focuses on the specific challenges women in business experience. In each one-hour session, women entrepreneurs will learn from experts how to navigate the three pillars of every woman entrepreneurs’ life: business, family and self.

One key to navigating entrepreneurship is preventing burnout. We asked Kelly Knight how she solves the challenge of burnout in her company:

Burnout is rife but also very preventable. There has been a rise in burnout, especially during the pandemic. When the coronavirus kicked in, and the world turned topsy-turvy, many of us went from seeing team members in person to only seeing them on a screen. Since then, we have had fits and starts of returning to the workplace, but the deeper issue of burnout remains unsolved. Why are organizations struggling to address burnout effectively? Because it requires hard work to get to the root of the problem.

We have to be honest about what’s happening in our companies, taking stock of what things look like today and how people’s roles have shifted. Some businesses have seen record growth, which means higher workloads for employees—and more stress. It’s important to right-size your organization to ensure team members have manageable capacities that don’t lead to more burnout.

Just as we visit the doctor for annual checkups, it’s essential to reassess your team’s capacity, structure, and processes at least once a year. My company does it during our yearly planning session, for instance, to ensure we aren’t unintentionally putting more stress on our team.

Here’s how to start:

1. Open Communication

Communicate with team members and other stakeholders regularly via one-on-ones or other meetings, and encourage them to be open about any struggles they’re facing that are leading to burnout. Listen to them, and acknowledge their feelings. That alone can help relieve some burnout. When times are hard and we feel overworked or stressed about capacity, the small things—like feeling valued, appreciated, and seen—sometimes get us through those moments.

2. Emotional Honesty

Model honesty yourself to help your team feel comfortable. There can be a lot of shame in admitting that you can’t handle your workload because it feels like admitting you’re a weak contributor. Let your team know that’s not the case by being open about your own struggles with burnout. In fostering this kind of open environment, you can more successfully get to the root of the issue that’s leading to burnout and better address it companywide.

3. Reassure Fears

Too often, organizations operate in fear-based environments where people think there will be some kind of retribution if they tell hard truths. We must move away from fear-based to gratitude-based environments that praise people for being honest, knowing that it will make the whole organization a better place to work.

The past few years have brought rapid changes to the workplace. Although some of the changes have undoubtedly been good, they have also led to intense burnout. To get to the underlying cause, slow down, take stock of your organization, and seek your team’s input. With some hard work, you can help burnout become a thing of the past.

Contributed to EO by Kelly Knight, who is an expert builder of teams. She is hard-wired to find and grow other talented people, guiding them to reach their maximum potential. After 20 years managing and leading dynamic organizations in the financial services industry, Kelly has been serving as an EOS Worldwide Integrator since 2016. Named to the 2022 Inc. 5000 list of America’s fastest-growing companies, as well as to the 2022 Inaugural Inc. Power Partner list, EOS Worldwide has helped thousands of entrepreneurs all over the globe get everything they want from their businesses.

For more insights and inspiration from today’s leading entrepreneurs, check out EO on Inc. and more articles from the EO blog.

Categories: WOMEN ENTREPRENEURS WORK-LIFE INTEGRATION

Tags: entrepreneurs' organization EOS Worldwide Kelly Knight

4 Lessons Learned from Running a Crypto and NFT Marketing Agency

3 March, 2023

Marketing is complex in itself, but it comes with even more unique challenges when your agency focuses on crypto and NFTs. In the last few years, we’ve seen massive market changes that shocked the entire financial system, and as a result, our agency quickly learned how to adapt. Our goal is to help clients with everything from token launches and community building to social media management and PR communications.

And although those challenges have been daunting at times, we wouldn’t have it any other way. We love working in this industry because we believe in the technology behind it. However, we have learned some critical lessons in five years of running a crypto and NFT marketing agency, and we’re happy to share them.

Hire the best and brightest

The most important lesson we’ve learned is to recruit the best and brightest consistently. When it comes to crypto and NFTs, things move quickly, and the landscape is constantly changing. You need adaptable team members who can think on their feet. We learned that the prominent visionaries who were able to execute rapidly launched the most successful campaigns by surrounding themselves with the most talented team possible. Whether their expertise ranges from gaming and finance, or art and tokenomics, it’s critical to select the right people carefully. We’ve found that the best way to recruit blockchain talent is through events and word of mouth.

Of course, it’s about more than finding smart people. You also need to find people who are passionate about the industry and believe in technology. The crypto and NFT industry runs 24/7 because of its global nature. The most successful business campaigns were launched by those who gathered a team of brilliant minds across multiple disciplines, including developers, engineers, capital raisers, marketers, and more. They acted on their vision quickly and efficiently. This combination of skills and attitude will help you weather any storm.

Leverage influencer or “word of mouth” marketing

The second most important lesson we’ve learned is the power of word-of-mouth marketing. In our experience, the crypto industry is driven by strong personal relationships. When you create a brand that people can trust, they will become your biggest advocates.

For example, when we launched our crypto and NFT marketing agency, we created a strong brand that people could trust. We focused on being transparent and delivering results. As a result, people started to recommend us to their friends and colleagues. We quickly became one of the leading agencies in the space, all because of word-of-mouth marketing through influencers and community builders.

Of course, you can’t just sit back and wait for people to start talking about you. You need to be proactive and create content that will get people talking. Partnering with and building strong relationships with influencers has been one of the most effective ways to do this. When you can get influencers on your side, they will help you reach a wider audience and build trust with potential clients. They’ve also given great feedback that can help improve your services.

Raise funds from investors and customers to prepare for bear market cycles

The crypto industry is volatile, and at times the market dips. When this happens, it’s critical to have a plan for weathering the storm.

First, make sure you have a good understanding of your finances. Know your burn rate and how long you can last without making any new sales. Bear and bull markets for crypto are impulsive, so it is essential to always have enough money saved to last two to five years. Planning in this way guarantees that you can make it through any difficult market periods and still have the budget necessary to expand your business.

One of the best ways to do this is to diversify your portfolio. Don’t put all your eggs in one basket. Invest in a variety of projects and assets so that you’re not relying on any one thing to succeed. It will help mitigate your risk and make it more likely that you’ll still stand when the market recovers.

Create a marketing agency that’s built to last

People have called crypto and NFTs a fad; we believe it’s the future of the new internet or Web3. The technology will be so seamless that you won’t even notice it’s there. That’s why, as a marketing agency that prides itself on being built to last, we’ve had to learn how to make decisions that will last. By following the tips above, we’ve built a strong foundation that’s allowed us to weather any storms that come our way.

Contributed to EO by Jeffrey Maganis, co-founder of Crowdcreate, a leading blockchain marketing agency specializing in Web3, Crypto and NFTs that has been a global pioneer in launching and scaling some of the most successful projects in blockchain technology since 2017. Crowdcreate also runs one of the largest networks of crypto founders, angel & VC investors, influencers and creators.

For more insights and inspiration from today’s leading entrepreneurs, check out EO on Inc. and more articles from the EO blog.

Categories: Lessons Learned PR/MARKETING

Tags: blockchain Crowdcreate entrepreneurs' organization Jeffrey Maganis Web3

EmpowHER: How Women Can Get—and Stay—Ahead of the Game in Business

1 March, 2023

Contributed to EO by Abeer Qumsieh, a seven-year EO Jordan member who is the founder of Better Business, the leading organization for management consulting and human capital development in Jordan, and Khibraty, an intelligent digital matchmaking marketplace for expertise seekers and providers. She is also a partner in MakanE, an e-commerce enabler in the Middle East.

In March, EO recognizes and celebrates women entrepreneurs with its second annual EmpowHER virtual conference, which focuses on the specific challenges women in business experience. In each one-hour session, women entrepreneurs will learn from experts how to navigate the three pillars of every woman entrepreneurs’ life: business, family and self.

As an Arab woman entrepreneur from the Middle East, I’ve faced numerous challenges while launching and growing my businesses. However, rather than deter me, these challenges have been a driving force behind my success, inspiring me to shatter many glass ceilings in male-dominated industries. Unfortunately, gender bias has made it difficult for women entrepreneurs like me to secure funding, build professional networks, and balance various day-to-day responsibilities. Despite these hurdles, I have achieved success and continue to find ways to grow my business while founding several other successful businesses.

Develop a Clear Vision

Multiple factors contributed to my success, among them was knowing my mission, what I wanted to accomplish, and how I planned to achieve it. This clear vision guided my actions and decision-making processes throughout the years, keeping me focused on my goals. That being said, committing to lifelong learning and pushing myself beyond my comfort zone—to the extent of joining a climb to Everest base camp—contributed to giving me an edge by improving my skills and empowering me to make bold and informed decisions, to innovate, and to remain ahead of the game in my industry.

Embrace Technology

Along the way and early enough, I discovered that innovation goes hand-in-hand with technology, which is a crucial tool for business growth and success. Though not within my main skill set, I embraced technology and rode the wave of digital transformation across different sectors in my industries. For example, after nearly two decades of providing programmes through my company, Better Business, the Covid-19 pandemic forced us to pivot—fast. Within three days, we embraced a complete on-line set up, and as a result were able to expand our client base to companies in Asia and Europe. Technology has enabled me to grow and differentiate my businesses, a key practice for ongoing success. It also inspired me to take a leap by partnering in a tech company, MakanE.

Prioritize Self-Care

As a woman business owner with children, I often find myself juggling multiple responsibilities, which can lead to burnout and stress. Prioritizing self-care is critical for me in maintaining a healthy life balance while remaining productive and focused on my business goals. I intentionally set aside time for my favorite activities, which include playing badminton quite often, and investing time to share with my family and friends.

Build a Strong Network

One of the most significant factors that contributed to my success was building a strong network. We all know it gets lonely at the top—my network provided me with many opportunities to connect with other business leaders and learn about the latest business and personal trends. Joining professional organizations including EO has qualified me to participate in inspiring moments that shifted the way I think and operate.

Personally, I believe that finding like-minded people beyond your regular network will provide you with new and invaluable experiences that will benefit you in various times of your professional or personal life by supporting your mental journey. The relationships that I’ve built over the years within EO are still very precious to me and very much present in my life today.

Extend Your Hand to the Next Generation

Before I close, I will leave you with one last piece that impacted my journey. Over the years, giving back, volunteering my time and resources to other entrepreneurs—to women, to youth, to my community and beyond—has been extremely rewarding. As an added bonus, it has further solidified the extensive network I’ve built. That same network supported me back and increased my power to allow me to make the difference I set out to make, and that I aspire to continue making in the future.

Don’t miss EO’s 2023 EmpowHER virtual series on 7, 14 and 21 March (the first three Tuesdays of the month). EmpowHER invites women entrepreneurs to hear inspiring stories from fellow founders—including Randi Zuckerberg, founder and CEO of Zuckerberg Media and former head of marketing at Facebook; Aanchal Bhatia, founder of Sydenham Clinic; Hannah Vasicek, founder of Francesca; and Helle Thorning-Schmidt, former prime minister of Denmark—during a series of virtual events that are free and open to EO members, EO Accelerators, their companies, and prospective EO members. Register today!

On 7 March, entrepreneur Randi Zuckerberg will share insights she has gained from being a three-dimensional woman of many titles. This seminar is free and open to anyone, upon registration. Sign up here to EmpowHER today.

Categories: Entrepreneurial Journey STARTUP WOMEN ENTREPRENEURS WORK-LIFE INTEGRATION

Tags: Aanchal Bhatia better business EmpowHER entrepreneurs' organization EO Jordan Hannah Vasicek Helle Thorning-Schmidt Khibraty MakanE Randi Zuckerberg

5 Elements More Important Than Office Location When Starting Your Business

24 February, 2023

Starting a new business can be the thrill of a lifetime. In front of you, you have the possibility of personal and professional achievement. Times, however, have changed dramatically, and some old adages about business don’t necessarily hold true anymore. “Location is everything” is no longer applicable in today’s digital world. Some businesses begin in basements. Others thrive in old industrial warehouses.

The internet is your storefront now, which allows you to focus your energies on more pressing concerns for your new business venture. With the rapid advancement of technology, you need to worry about location much less than you think.

Here are five elements that should be more important to consider than location when starting your business:

1. Price

Despite the prior two paragraphs, location is still important—just not in a way that you may have considered yet. Certain locations will obviously cost more than others. When you are a fresh, young business, you might decide that your money is better spent elsewhere and pass on that exposed brick property on Main Street for something more affordable.

You also want to consider everything you need in the space you will be renting or buying — shelving, lighting, fixtures, artwork, etc. It’s good to save money when you are looking for office space, but if you go too far, you might wind up missing some of the amenities that you need. It’s a balancing act.

A good rule of thumb is that you should be able to pay the first three months’ rent plus deposit on the space you decide to rent. It is also wise to ask if there are any extra fees or administrative costs, as even small ones can add up, and you’ll be spending more than you wanted before you know it.

2. Accessibility

It’s a great idea for fledgling business owners to find a space that is already within the requirements of the Americans with Disabilities Act (ADA). If it isn’t, you will have to make changes to the space to comply with ADA regulations. Installing handicap ramps, handrails in restrooms and widening doorframes isn’t cheap. Or easy.

Of course, accessibility goes beyond considerations for your customers who have disabilities. You want a location that will be easy enough for your employees to get to. If you have distributors, you want to make sure that getting to your business isn’t an absolute nightmare.

3. Your brand

You need to keep your brand top-of-mind because you want your business to be in an area that makes sense. For example, if you are an office supply store, it would make sense to be near offices or schools, as opposed to a high-end shopping district.

If you put your business in an area that makes sense for your brand, you are more likely to have new customers walking in because they will have come to that specific spot for a specific thing.

4. Style and feel

There was a time when people in the business world might have thought that caring about the interior of your office space was simply a frivolity, but that is not the case. Think about it: You and your employees will spend a lot of time in the workplace. The only place they’ll spend more time at is home.

Having a space that you enjoy is crucial for your mental health and the mental health of your employees. If you and your employees like where they work, they are more likely to be more productive.

5. Amenities

In the modern era, you need to make sure that the space you rent has the infrastructure to operate with all the technology you need. For example, be sure to double-check that you are in a location that offers reliable high-speed internet.

In 2023 and beyond, location won’t matter as much for a new business as it used to. Pay close attention to the aforementioned elements to set yourself up for as much success as possible.

Contributed to EO by Jason Streiff, president of Streiff Marketing, an Amazon agency that has deep roots in the Amazon seller and vendor space and helps brands succeed on Amazon Retail and Amazon Marketplace.

For more insights and inspiration from today’s leading entrepreneurs, check out EO on Inc. and more articles from the EO blog.

Categories: Best Practices STARTUP

Tags: entrepreneurs' organization Jason Streiff Streiff Marketing

Ukraine One Year Later: Insights and Entrepreneurship in Action

21 February, 2023

Since February 2022, the UN High Commission on Refugees reports that nearly 14 million people have been displaced from their homes in Ukraine—most of them seeking safety and shelter in other countries. More than 9 million of them crossed the border into Poland alone.

Dawid Adach, a co-founder of technology company MDBootstrap and former EO Poland president from 2021-22, partnered with fellow EO members Szymon Boniecki, Jakub Szalaty and many others across Europe and North America to fundraise, collect supplies to make comforting ‘living kits’ for arriving families, and create welcome centers for refugees crossing into Poland.

Embracing the agility of the entrepreneurial spirit and EO’s Purpose: to move the world forward by unlocking the full potential of entrepreneurs, these member-leaders stepped away from their businesses to lead from the front.

We asked Dawid about his experience in the past year, and what he learned while helping refugees from Ukraine. As the world confronts more frequent and compounding disasters, Dawid’s insights can offer learnings for other entrepreneurs who seek to support their communities in times of crisis.

What were your most memorable moments in helping the people of Ukraine?

Bearing witness. The strongest memories are what I saw with my own eyes. Thousands of refugees queuing at a train station, holding their kids’ hands with just a few belongings they packed moments before leaving. Also, the picture of shelters with 6,000+ occupied beds will stay in my mind forever. Of every 100 refugees, 60 were kids, 35 were women, and only 5 were men. We saw a lot of mothers with two or three kids and sometimes a grandmother. The men stayed to fight for their country, and we had to take care of their families now.
Random acts of kindness. One example that stands out is when Tomás Champalimaud (EO Portugal) showed up with a rented van and asked, “How can I help?” He explained that when he saw pictures of moms fleeing Ukraine with their kids on TV, he looked at his children and knew that he had to do something, so he took the first flight and came to help. There were thousands of others like Tomás. Many friends from Poland jumped into their cars and went to the border without knowing what to expect. All of them came back with cars filled up with refugees, which they gladly hosted in their houses and offices.
Flood of support. Since we were frontline workers, people from around the world who couldn’t show up themselves asked us how they could help. My phone was flooded with messages from hundreds of people. We created a working group on WhatsApp, but within a few days, we reached the 250-person group limit and had to switch to another tool. Many wanted to come, some even from other continents. People organized themselves into groups to collect donations. One friend, Dominique Love (EO Atlanta), heard that we were building shelters, so she ordered 50 mattresses online and had them shipped directly to us.

Did the urgency of war and the desperate needs of refugees unlock any entrepreneurial skill or talent that you did not know you possessed?

We learned how to run a charitable organization; we had no experience in it before. We learned that saying “yes” to something means saying “no” to something else, and vice versa. When the war started, we raised $500,000 in a weekend. It’s a lot of money, but when you apply it to a million refugees, you quickly realize that you have to make difficult choices on how to spend it. The needs were overwhelming, from medical care to shelters, food, and transportation.

I had never worked under so much stress before. As an example, many entrepreneurs who couldn’t come and help themselves were willing to donate. We didn’t have time to wait for an attorney’s decision on what paperwork to submit to ensure that we would fall into exemption requirements (similar to 501(c)3 in the US). We had to act quickly and bear the consequences later.

Finally, the surrounding chaos was indescribable. Supplies were sold out on the way to the store. Refugees scheduled to get on a bus to City A decided to take an earlier bus to City B without notice, so no one knew whether the bus should wait for them or pick up other people. “War-time CEO” took on a new, unfortunate meaning.

What has the fallout from the war helped you realize about yourself and other entrepreneurs?

The situation highlighted the dynamics of our response as entrepreneurs. Unlike larger humanitarian organizations, we were able to quickly and flexibly gear up and respond to the crisis. While established organizations may have more significant resources and procedures, we were able to deliver much-needed support where and when it was needed most. Thanks to the trust and support of donors, we could focus on the work at hand without being bogged down by bureaucratic procedures that could hinder our ability to respond swiftly.

As entrepreneurs, we were able to quickly pivot and adapt to the evolving situation, leveraging our networks and resources to mobilize support on the ground. We were not bound by traditional hierarchies and could make decisions on the fly, which proved to be crucial in such time-sensitive situations. Our ability to innovate and find creative solutions also helped us overcome challenges such as the shortage of supplies and the chaotic logistics of moving large numbers of people.

The trust and support of donors were instrumental in allowing us to carry out our mission. It provided us with the financial backing we needed to operate efficiently and respond quickly to the needs of those affected by the crisis. We were able to provide a level of support that was not possible for larger organizations, which are often constrained by bureaucratic processes and red tape.

What will you share with people who are not there to witness the human impact of the war?

The war is not over yet. Civilians are still dying. The lives of millions have changed forever, and Ukrainians still need help from the international community. So our work continues. EO Poland is still accepting donations at: ukraine.eopoland.org

As Dick Winter once said, “War brings out the worst and the best in people.” While we witnessed the worst of war through our TV screens, we were fortunate to witness the best in people—and our fellow entrepreneurs—firsthand.

Impact of EO Members’ Efforts for the People of Ukraine

Value of cash and goods distributed to people displaced from Ukraine in 2022: US$1+ million
Establishment of EO Poland Ukraine Fund to centralize EO chapter donations
Top giving chapters: EO Atlanta (US$65,00), EO Nashville (US$29,000), EO Houston (US$29,000), EO Los Angeles (US$28,000)
Refugees directly assisted: 1,000 evacuated/relocated to homes throughout Europe
Materials distributed: hundreds of thousands of necessities (toiletries and hygiene products), blankets, mattresses, sleeping bags
Food Distributed: 7,200 loaves of bread daily and 700,000 jars of baby food to Ukrainians in Kherson
Youth relocations supported: 12 orphanages relocated to safe zones, paid school fees for 450 students, 10 teacher salaries and thousands of school supplies
EO Fundraising Member-Champions: EO Detroit (Vladimir Gendelman, Jenny Feterovich), EO Chicago (Alex Zatvor) and EO Atlanta (Dominique Love)
Real Help for Ukraine (created by EO Detroit) secured and shipped: US$600,000 in cash and in-kind donations of medical equipment from the US to Ukraine
Financed emergency generators for use in Ukraine
Alex Zatvor (EO Chicago) launched Gate to Ukraine, which helped 1,675 families and distributed US$195,470

For more insights and inspiration from today’s leading entrepreneurs, check out EO on Inc. and more articles from the EO blog.

Categories: general Impact LEADERSHIP

Tags: Dawid Adach entrepreneurs' organization EO Poland Real Help for Ukraine

INSIGHTS FROM

LEADING ENTREPRENEURS

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Tags

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Tips for communicating entrepreneurial intentions to your life partner

1. Be honest.

2. Listen to your partner.

3. Make a solid plan.

4. Protect your emotions.

5. Practice gratitude.

Waving hello: Do we really need better internal communications channels?

How video can overhaul internal communications

To video, or not to video: That is the question

Bridging physical distance with video

Get your point across: Tips on making the perfect internal communications video

1. Do I deserve to be here?

2. How did she get there?

3. Is there something wrong with me?

4. It’s lonely at the top

5. I can’t juggle all the balls

6. I’m a terrible Mum

7. I’m in the way

Benefits of Machine Learning in Crisis PR

Avoid Potential AI-Powered Pitfalls

End the bias toward working moms

Shift toward more inclusive and diverse workplaces

Offer flexibility and work-from-home options

No more Mom Guilt

Stop making assumptions

1. Open Communication

2. Emotional Honesty

3. Reassure Fears

Hire the best and brightest

Leverage influencer or “word of mouth” marketing

Raise funds from investors and customers to prepare for bear market cycles

Create a marketing agency that’s built to last

Develop a Clear Vision

Embrace Technology

Prioritize Self-Care

Build a Strong Network

Extend Your Hand to the Next Generation

1. Price

2. Accessibility

3. Your brand

4. Style and feel

5. Amenities

What were your most memorable moments in helping the people of Ukraine?

Did the urgency of war and the desperate needs of refugees unlock any entrepreneurial skill or talent that you did not know you possessed?

What has the fallout from the war helped you realize about yourself and other entrepreneurs?

What will you share with people who are not there to witness the human impact of the war?

Impact of EO Members’ Efforts for the People of Ukraine