Category: Articles

Motherhood Meets Entrepreneurship: Navigating Maternity Leave as a Business Owner

Posted on | by Molly Stills

Maternity leave offers a crucial period for new mothers to heal and bond with their newborns. However, as an entrepreneur it can become overwhelming trying to balance the joys and responsibilities of motherhood with the business you’ve passionately built from its inception.

Capital on Tap has spoken to two female entrepreneurs, Katie Hanton-Parr, co-founder of Baboodle, and Eleanor Bagust, co-founder of Letterbox Gifts, to share their recent experiences with maternity leave. They offer valuable advice for other expectant mothers preparing to navigate parenthood and entrepreneurship.

Personal maternity leave is often overlooked by business owners amidst other challenges, but preparation is crucial for a smooth transition

Amidst the whirlwind of running a business, planning for maternity leave is often overlooked as you focus on overcoming the challenges of managing finances, securing customers, and building a strong brand. 

Katie admits, “[Maternity leave] is not something you think about when starting a company. There are so many unknowns and ‘what if’s’ that it didn’t feel as though I should give it any thought against all the other obstacles that I was facing starting the business.” However, once you find out you’re expecting, preparing your business for this life change becomes inevitable.

Upskilling and retraining existing members of staff can be a beneficial way to prepare for maternity leave, ensuring your business is left in trusted hands and saving on additional recruitment costs and bottlenecks.

Both Katie and Eleanor suggest that the hardest thing about planning for maternity leave was the realisation that they must give up some control and hand over responsibility to others. Eleanor related it to her experience of being a mother, “When your business has been your baby for years, relinquishing control can be difficult and for me, it took some getting used to.”

Despite this, they both report that their revenue growth has been steady. However, in Eleanor’s case, the need to rely on staff and increase their hours has resulted in additional expenses. Rebecca Alford, Finance Director from Capital on Tap, suggests that “Applying for a business credit card can alleviate some of the uncertainties that come with any hidden, and planned costs when handing over control whilst you’re on maternity leave. It can help simplify financial management and provides oversight on spending.”

Navigating the uncertainties of maternity leave, and returning back to work, can be difficult, but flexibility is key

Both Katie and Eleanor had business partners who were able to take charge in their absence. However, their maternity leaves unexpectedly coincided with large projects and the beginning of new business collaborations, which was the source of some nerves when handing over responsibilities.

Transitioning in and out of maternity leave can be challenging. After investing so much into your business, it can be difficult to ‘switch off’. 

Katie notes, “I’m working more than I thought I would during my maternity leave, but when you run your own business it is often impossible to turn your mind off”. Setting boundaries around your maternity leave is crucial so you can take the much needed time to recover and enjoy your new family member. Still on maternity leave, she is concerned about returning to work due to motherhood’s fatigue but is arranging flexible work schedules to adapt to her new responsibilities.

“Katie’s concerns about finding a suitable work/life balance upon returning from maternity leave are common. As you transition back to work, it is important to stay flexible and determine what works best for you, your baby, and your business.” says Rebecca Alford, Finance Director from Capital on Tap.

Katie and Eleanor share tips for prospective mothers on taking maternity leave as a business owner

  1. Be flexible with your expectations on returning to work: Eleanor notes “you don’t know how you’ll feel, especially as a first time mum.” It is important to have a plan for your return to work, but be ready to adjust if needed.
  2. Don’t compare yourself to others: Avoid comparing yourself to others regarding how quickly they adjust to motherhood or return to work. Eleanor reminds new mothers that, “some struggle with becoming new parents more than others”, sobe kind to yourself as you enter this new chapter.
  3. Don’t feel guilty for wanting to spend time on the business: It is okay to take time for yourself during maternity leave, even if that means working on your business. The way you choose to balance motherhood and entrepreneurship is personal.
  4. Have an open line of communication between you and your team: Katie advises “be an open book from the start, as people also tend to help more when they know you are pregnant!” Early communication with your team ensures everyone is prepared and supportive during your leave.

Maternity leave is an exciting time for new mothers, and it should be no different for women with their own businesses. Embrace this period as an opportunity to learn more about your leadership and delegation skills while enjoying the new addition to your family.

Fintech and financial technology on smart phone

AAZZUR – Pioneering the Future of Fintech

Posted on | by Magdalena Lew

AAZZUR stands out as a beacon of foresight and strategic thinking in an industry where innovation is the key to survival. The fintech has grown to be a trailblazer in the financial technology sector, navigating through waves of change and emerging as a leader in embedded finance solutions. We had the privilege of speaking with the CEO and co-founder of AAZZUR, Philipp Buschmann, who shared insights into the company’s journey, the challenges they’ve overcome, and their vision for the future.

The Birth of AAZZUR

The inception of AAZZUR coincided with the third wave of fintech, a period marked by the rise of app-based financial services like Railsr and Solaris. While the first wave focused on infrastructure, the second brought user-centric applications and the third introduced solutions providers. It was in this evolving landscape that AAZZUR was conceived. Initially, the goal was to establish a challenger bank for Europeans. However, the team quickly realised that the future of fintech lay in creating innovative solutions rather than traditional banking models.

Philipp reflects on this early vision: “We started with the idea of becoming a challenger bank, but as we looked at the broader fintech landscape, we realised that the future would be built on more than just banking. We envisioned a world where financial services were seamlessly integrated into everyday experiences, and that’s where we positioned ourselves.”

Advice for Startups: Think with the End in Mind

For startups looking to lead rather than follow, Philipp offers sage advice: “Think with the end in mind and work backward. Too many people start with a great idea and then try to figure out how to implement it. Instead, focus on your end goal. What do you need to achieve it? Start small, grow bigger. Look at your journey in reverse. It’s essential to begin with a well-defined, high-value idea—one that’s defensible and can generate revenue quickly.”

He cautions against getting caught up in the allure of grand ambitions without a solid foundation. “Nobody starts an airline by buying planes first. They start with a route, then expand. In fintech, it’s important to start with a small, high-value idea that you can build on over time. It took us four years to reach where we are today, and it was a learning process.”

Embracing Innovation

AAZZUR’s success can be attributed to its ability to stay ahead of the curve. Philipp and team credit this to a combination of foresight and a bit of luck: “We were always years ahead, whether by design or circumstance. The key is to keep innovating. Once you’re established, the momentum can carry you, but you can’t afford to stop. Technology is always changing, and so must we.”

This philosophy has allowed AAZZUR to maintain its competitive edge in an industry that’s constantly evolving. By continually pushing the boundaries of what’s possible, the company has ensured that it remains at the forefront of fintech innovation.

The Power of Embedded Finance

Embedded finance is at the heart of AAZZUR’s offerings. The founder is quick to highlight the advantages of adopting these solutions: “If you’re hesitant to embrace embedded finance, you risk falling behind. Your competitors will have a 5% revenue advantage, and you’ll lose customers over time. It’s similar to when the internet first launched; those who didn’t adapt were left behind.”

He explains how embedded finance can transform businesses by giving an example of a lending client: “Imagine a lender who traditionally processes loans and disperses them to an applicant’s account. By embedding a bank account into this process, where the borrower’s salary is paid into that account, the lender can reduce default rates and offer lower interest rates, making their product more competitive. This is something AAZZUR enables, allowing lenders to offer better rates and grow faster.”

Building a Winning Team

At the core of AAZZUR’s success is its team. The founder places a strong emphasis on values and what he calls ‘superpowers’—the unique qualities each team member brings to the table. “All people are different, but values are important. Things like being nice, punctual, and helpful—they don’t cost a thing, but they make you a better person and, by extension, a better company. Success comes when opportunities are given to you when you’re not even in the room.”

Achievements and the Road Ahead

AAZZUR’s innovative approach has not gone unnoticed. The company has been recognised with several awards, including the Techround Fintech50 Award, Sifted’s EU Startup to Watch, and the coveted Mastercard Pitching Competition. These accolades are a testament to the impact AAZZUR is making in the fintech space.

Looking to the future, AAZZUR remains tight-lipped about its upcoming projects, although the founder hints at exciting developments on the horizon. “We’re working on some very exciting things, but I can’t share too much just yet. All I can say is, watch this space.”

Conclusion

As AAZZUR continues to innovate and expand, its long-term goals remain focused on transforming industries through embedded finance. The company is already making strides in sectors like travel, employee benefits, and insurance, with a clear vision for where they want to go next.

In an industry as dynamic as fintech, AAZZUR has shown that the key to success lies in foresight, innovation, and a strong, values-driven team. With these principles guiding them, AAZZUR is set to continue its journey as a pioneer in the world of financial technology.

Philipp Buschmann
Happy middle aged business woman executive ceo leader discussing project management planning strategy working with diverse colleagues company team

Entrepreneurial Leadership: Balancing Vision with Execution in New Ventures

Posted on | by Magdalena Lew

By Devin Partida

Balancing visionary foresight with pragmatic execution is a well-known tightrope walk for successful entrepreneurs. Vision drives the team to pursue a common goal, while execution turns it into reality. However, they’re not always aligned and can sometimes conflict, plunging the venture into distress before it even gets off the ground.

How can startup leaders navigate the nuanced interplay between these critical considerations and ensure they both get due attention?

Involve the Team in Vision Creation

It’s a common mistake for entrepreneurs to impose their vision on the team rather than co-create it with them. Soliciting feedback and ideas from relevant parties is crucial to ensuring the vision is realistic and resonant. Involving the team in the creation process also helps business leaders increase their ownership and commitment to its execution.

Communicate the Vision Clearly and Frequently

The success of a new venture hinges on having a cohesive organization that shares its values and core objectives. Communicating the vision to all stakeholders fosters a sense of alignment and purpose, inspiring everyone to work toward common goals. A clear, well-communicated vision also stimulates creativity and innovation, which are necessary for staying competitive in a dynamic market.

Delegate Execution Tasks

It can be tempting to micromanage the execution process, especially at the nascent stages. However, delegating tasks and responsibilities to the team and empowering them to make decisions is far more effective. Doing so frees up precious time for leaders and builds trust across the organization. The ability to distribute workload productively can also result in a 33% revenue increase and reduced staff turnover.

Track and Measure the Execution Progress

Monitoring and measuring execution progress against the organization’s vision ensures alignment. Tracking key performance indicators and milestones helps leaders identify deviations early, make timely adjustments and hold teams accountable for results. This process allows startups to stay on course toward the overarching vision and provides valuable insights into the effectiveness of implantation strategies.

Leaders must also celebrate achievements and execution successes. Recognizing and rewarding the team for their efforts in actualizing the company vision encourages further contributions.

Refine the Vision and Execution as Needed

The vision and implementation framework cannot be rigid because the landscape constantly changes. Inflexibility restricts an organization’s potential to adapt. Instead, it should be agile enough to respond to evolving market conditions and customer needs adequately.

A survey of C-suite executives from 450 profitable companies identified a dynamic culture of embracing change as the foundation of success for sustained growth. These involve a strong focus on continuous improvement and iterating on strategies without losing sight of the overarching vision.

How to Align Strategic Objectives With Vision Execution

Three primary considerations stand out for ensuring vision and execution work hand in hand to drive growth.

1.    Resource Management

New ventures often have limited resources, highlighting the need for efficient mapping and allocation. The key is identifying and categorizing the most critical financial, human and technological functions required to achieve strategic goals. An effective workaround is outsourcing certain responsibilities to AI based on strategic importance to free up resources for more critical concerns.

2.    Task Prioritization

Prioritizing tasks is essential to focus efforts on activities that directly contribute to realizing the organization’s vision. The goal is to ensure every action contributes toward the desired outcomes. For example, creating a market-ready product that meets customer needs takes precedence over developing an email marketing strategy.

3.    Adaptability

Startups operate in a dynamic environment where adaptability is crucial in responding to evolving market shifts. Business leaders must foster a culture of agility where teams are encouraged to experiment, learn from failures and pivot quickly in response to changes. Establishing feedback mechanisms from customers and employees to gather insights for continuous improvement and adaptation is equally important.

Entrepreneurs Must Master the Art of Balancing Vision and Execution

Vision and execution are interdependent — one is meaningless without the other. Today’s business leaders must harmonize visionary goals with actionable steps to steer their organizations toward enduring success. Communicating organizational values effectively, delegating responsibilities and measuring progress allows startups to achieve long-term strategic objectives and stay ahead in the ever-evolving business landscape.

Author Bio

Devin Partida is the Editor-in-Chief of ReHack.com, and is especially interested in writing about business and BizTech. Devin’s work has been featured on Entrepreneur, Forbes and Nasdaq.

Devin Partida

A Company’s Guide to Managing Business Loan Payments  

Posted on | by Jennifer Spencer

Managing business loan payments can be overwhelming, especially for small businesses. But keeping up with loan payments is crucial to maintaining your financial health and ensuring your company thrives. With the right strategies, you can stay on top of your payments, avoid costly pitfalls, and even make the most of your loan.  

This article provides practical steps to manage your business loan payments effectively. Dig in to maintain control over your finances and keep your business on the path to success! 

Understand Your Loan Terms   

Before anything else, it’s essential to understand the repayment terms of your business loan. This includes the interest rate, repayment schedule, and any fees associated with early business loan repayment or late payments.

Knowing these details helps you plan your payments effectively and avoid unexpected charges. If your loan has a variable interest rate, be aware of how fluctuations could impact your payments and budget accordingly. And if any part of the loan agreement is unclear, don’t hesitate to contact your lender for clarification.

Make sure you choose a reliable partner who’ll put your business needs first. As per credibly, working with people dedicated to helping you grow your business will match you with the best financing option. Such partners will thoroughly evaluate your business’s financial situation and goals to recommend the most suitable loan options.  

Leverage Outsourcing to Manage Costs  

Outsourcing services to third-party providers can be a strategic way to manage your small business loan repayment. It allows you to reduce your operational costs by outsourcing non-core functions, such as information technology services, accounting, or customer support. This way, you’ll free up more of your budget to focus on essential expenses without compromising the quality of your services.  

According to CEO of Daystar, businesses that outsource effectively can focus on growing. This will streamline operations and improve their cash flow, making it easier to stay on top of loan payments. You’ll have the funds available when payments are due, reducing the risk of financial strain.  

Create a Payment Schedule   

One of the most effective ways to manage your business loan payments is to create a detailed payment schedule. This schedule should outline all payment due dates, the amount due, and the payment method.   

Having a clear timeline will help you reduce the risk of missing payments. This can lead to penalties and damage to your credit score.   

Consider using digital tools like calendar reminders or accounting software to keep track of payment dates. If possible, set up automatic payments to ensure you never miss a due date.  

Prioritize Loan Payments  

Loan repayments should be a top priority in your financial management. When you prioritize your loan payments, you build and maintain a strong relationship with your lender.  

This will come in handy if you ever need to renegotiate your loan terms or seek additional financing. A history of timely payments shows that your business is reliable, which can open doors to better opportunities in the future.  

To ensure you always have enough finances, consider allocating a specific portion of your revenue solely for loan payments. This will help ensure that the necessary funds are always available when a payment is due, reducing the risk of missed payments and the potential penalties associated with them.  

Monitor Your Cash Flow   

Effective cash flow management is crucial for staying on top of your loan payments. Regularly reviewing your cash flow statements ensures that your income consistently covers your loan obligations.  

If you notice a drop in revenue, act quickly by cutting unnecessary expenses or boosting sales. If cash flow issues persist, consider renegotiating your loan terms to avoid further strain on your finances.  

Staying proactive with cash flow management will enable you to avoid falling behind on payments and keep your business on solid financial ground.  

Build a Financial Cushion  

Unexpected expenses can arise at any time. A sudden drop in revenue can make it hard to meet your loan payments. These situations can put your business at risk.  

To protect against these uncertainties, build a financial cushion. Set aside extra funds each month. This reserve can cover loan payments during tough times. It ensures you don’t miss any deadlines.  

Aim to save three to six month’s worth of loan payments. This cushion gives you peace of mind. It also provides financial stability for your business.    

Consider Refinancing  

If your loan payments are becoming too hectic, refinancing might be a good option. It allows you to replace your current loan with a new one. Often, the new loan comes with better terms, like lower interest rates or extended repayment periods.   

This can lower your monthly payment and help you manage your finances more easily. It can also free up cash for other essential expenses. However, it’s crucial to weigh the costs of refinancing before deciding.  

Fees and potential penalties may apply, so be sure to do the math. Consider whether the savings from refinancing outweigh these costs. Make sure it’s the right move for your company’s long-term financial health.  

Conclusion   

Managing business loan payments is a critical part of marinating your company’s financial health and stability. With the above tips, from understanding your loan terms to negotiating with your lender, you can keep your business on track. Remember, with careful planning and proactive management, you can turn the task of managing loan payments into a routine that supports your overall business growth and sustainability.  

Cybersecurity tips to safeguard your business from data breaches and cyberattacks

Managing the Impact of Civil Unrest on Businesses: A Guide for CEO’s on How to Safeguard Your Business

Posted on | by Magdalena Lew

By Peter Boolkah

The unrest seen across towns and cities at the beginning of August following the murder of three school girls in Southport sent shockwaves across communities in the UK. After the suspect’s religion was wrongly leaked on social media as Muslim, we saw mosques and buildings housing asylum seekers targeted as well as violence on the streets. As the riots raged, small businesses found themselves directly in the line of fire as both Muslim and non-Muslim-owned high street shops were targeted. 

In this article global business coach and business owner Peter Boolkah will consider how owners and CEOs of businesses can safeguard their businesses in the future should it happen again.

The riots in early August caused small businesses and their owners both physical and psychological damage. One might consider the physical damage to be easily cleared up with insurance paying for the damages. However, with the economic instability felt globally and in the UK in recent years many small businesses are operating on very tight margins. A rise in an insurance premium due to a claim could have dire consequences. Indeed some small businesses affected may not have had insurance at all or their cover may not have included damage due to civil unrest. It is therefore imperative that small business owners check their insurance and legal responsibilities when it comes to acts such as these and ensure they are covered. It is not just the physical damage that small business owners will be grappling with. Their confidence in their safety will have been damaged and the psychological impact of feeling vulnerable as well as the loss of trading time could be substantial. 

The world that businesses operate in has changed radically over the last 5 years. Whilst there is more opportunity afforded by the change to the working landscape some industries have been hit hard. Retail has seen some big losses during that time as the high street became less attractive as consumers moved even further towards the online model. So for those businesses still on the high street or for those servicing businesses with a physical presence, how do we safeguard against further civil unrest and what that could mean for CEOs of SMEs?

Civil unrest can present significant challenges for businesses. It disrupts operations by affecting employee safety and damaging property. It is a complex task for CEOs to navigate. The important thing is to find strategies to mitigate the effects of civil unrest on their businesses so they can stay resilient. How do we do this? The first step is to understand the specific risks that civil unrest could pose to your business, a risk assessment. This could well show up gaps in your security. For example, do you have shutters across your shop front? Are they alarmed and fit for purpose? Investing in security measures to protect employees, assets, and facilities such as barriers and surveillance, as well as cyber security measures to protect against potential cyber-attacks that often accompany civil unrest is a good idea. 

On the other side, you could be a business which supplies a high street shop with goods. You too will need to have strategies in place to deal with your customers having to temporarily cease trading. How can you help them? What do you have in place to safeguard your income when they are under threat? When we say that civil unrest affects everybody whether they have a physical presence on the high street or not this is what we mean. Supply chains often end at a physical retailer. 

Civil unrest often arises from deep-rooted social and political issues. CEOs can play a role in addressing these underlying causes by engaging with the communities in which they operate. This might involve contributing to community development. This can help build goodwill and reduce the likelihood of the company being targeted during unrest. Civil unrest might disrupt supply chains and day-to-day operations. It is also important that your staff have clear safety rules to follow if unrest breaks out nearby. This should include their safety and if possible their ability to keep the premises safe.

Civil unrest can present complex challenges for businesses, but the key to survival is careful planning and management. CEOs can mitigate the impact and ensure the resilience of their companies by prioritising employee safety, engaging with the community, and addressing legal and security concerns. I see no reason why CEOs who navigate these difficult situations consistently and have strategies in place to deal with civil unrest should not emerge with their businesses intact and potentially stronger. The key is to act with foresight, empathy, and decisiveness, turning challenges into opportunities for growth and positive change.

Peter Boolkah

About Evangelos Marinakis

Posted on | by AI Guest Posts

Born in the Greek city of Piraeus in 1967, Evangelos Marinakis is a prominent figure in the global shipping industry. His father is Miltiadis Marinakis and his mother Irini Marinaki, née Karakatsani. Cretan born Miltiadis Marinakis served as a member of the Greek Parliament. Having founded Vanimar, he was also a successful shipowner. Evangelos Marinakis’s mother is a direct descendant of the prestigious Ypsilantis family.

Having attended the American International University in London, Evangelos Marinakis has master’s degree in International Relations and a bachelor’s degree in International Business Administration. After graduating, Evangelos Marinakis ventured into the shipping industry, following in the footsteps of his father.

Evangelos Marinakis worked as a chartered broker for Elders Chartering Limited and Harley Mullion in the UK. He also worked as a Commercial Manager for Capital Ship Management Corporation for 13 years.

Mr Marinakis subsequently broke out on his own, establishing his own business, the Capital Maritime Trading Corporation. This marked the beginning of an extraordinarily successful entrepreneurial journey in the global shipping industry, Evangelos Marinakis remaining true to his maritime heritage. He also served as CEO of Crude Carriers Corporation, a New York Stock Exchange-listed company. In this role, Mr Marinakis oversaw the successful merger of Crude Carriers Corporation and Capital Product Partners LP, a company listed on the American Stock Exchange that he continues to serve as chairman today.

A lifelong supporter of Piraeus Football Club, the team of his home city, Piraeus, Evangelos Marinakis was fortunate enough to acquire a majority stake in the club in 2010. As president, Evangelos Marinakis has led the club to victory in seven championships.

Mr Marinakis also acquired a controlling share in Nottingham Forest Football Club in 2017. He gained the approval of the English Football League for far-reaching plans created with the goal of restoring the club to its former glory. These plans included redevelopment of the team’s home ground, culminating in the creation of the East Midland’s largest football stadium, a venue featuring world-class facilities.

In addition to following his father into the maritime trade, Evangelos Marinakis also ventured into politics. Joining forces with Olympiacos Vice President, Yannis Moralis, Evangelos Marinakis cofounded the ‘Piraeus Winner’ alliance. Following the party’s successful campaign in 2014, Evangelos Marinakis was elected to the Piraeus City Council. During his tenure, Mr Marinakis has consistently focused on upgrading infrastructure, implementing ambitious plans to transform the port city of Piraeus into a thriving tourist destination while simultaneously improving living standards for local people.

Throughout his career, Evangelos Marinakis has used his position as a prominent businessman and public figure to effect positive societal change. In the wake of the Greek financial crisis, Evangelos Marinakis gifted €168,590 to Greek Debt Free, a charity website, on behalf of Olympiacos Football Club. Following the Cephalonia earthquakes in 2014, Evangelos Marinakis donated €500,000 to finance the rebuilding of schools across the country. In 2013, he brokered a partnership between UNICEF and Olympiacos Football Club, the club providing vital funding for a child immunisation scheme in developing countries. In Piraeus, Mr Marinakis has used his own personal wealth to finance redevelopment and job creation across the city.

Under Evangelos Marinakis’s leadership, the Capital Maritime & Trading Corporation has been recognised with several prestigious awards for its efforts to improve sustainability and lessen the impact of the global shipping industry. Awards earned by the company include GREEN4SEA’s Excellence Award 2015 and the Port of Long Beach in Southern Carolina’s Green Environmental Achievement Award in 2014, 2015 and 2018.

Today, the Marinakis family manages a more than 70 vessels via the Capital Maritime Group, its fleet including tankers, ships and dry bulk carriers.

5 Reasons Why Every Winery Chief Marketing Officer Should Invest in Social Media Branding

Posted on | by AI Guest Posts

Social media is a powerful tool for wine businesses seeking to build a strong online presence. Aligning social media with wine branding can strengthen your winery’s public perception. The effect of social media branding is key to your winery’s success online. Discussed below are five reasons why every winery chief marketing officer should invest in social media branding.

Improved SEO rankings

Social media SEO for wineries involves optimizing your brand’s social media posts and profiles so more people can discover your wine business in search engines and social platform search results. While social media doesn’t contribute to your brand’s SEO rankings directly, all the links you share on various social channels boost brand exposure, influencing SEO.

With social media shares, you can create social signals that show how helpful your content is to your target audience. You can also share links to your winery site on social platforms to build a robust backlink plan by potentially raising the number of clicks to your site. This results in improved search engine rankings. To maximize results from an integrated social media and SEO approach, consider:

  • Repurposing your web content for social media
  • Linking to your website from your social media profiles
  • Adding social sharing buttons to your web content
  • Linking to your website from your social media posts where relevant
  • Maintaining consistent branding across your social platforms and website

Social media facilitates storytelling

Social media branding lets your wine brand showcase its personality while telling its unique story. Creative, informative social media content lets your winery express its mission, vision, and values. Creating compelling brand stories helps your wine business:

  • Develop emotional connections: Storytelling enables your brand to establish a deep emotional connection with its audience
  • Establish a memorable brand identity: Compelling brand narratives not only make your wine brand stand out but also help build a unique, memorable identity
  • Increase engagement: Social media users are highly likely to engage with posts that tell a story
  • Improved brand recall: Brand stories have a higher possibility of being recalled than product descriptions or plain facts

Social media promotes influencer collaborations

Influencer marketing involves partnering with popular personalities on social media to promote your wine business’s products and services. It amplifies your winery’s credibility and reach. Social media influencers have built themselves as critical opinion leaders in their unique niches. They’ve acquired huge amounts of followers and enjoy incredible engagement levels from them. This credibility and influence combination makes influencers an effective marketing tool for wine brands to leverage.

Collaborating with influencers allows your winery to access their following, who are usually highly receptive to the recommendations and content the influencers they follow share. Partnering with wine influencers offers multiple benefits, including:

  • Expanded reach: Social media influencers have devoted followers who align with specific interests or demographics. This allows your wine business to reach a wider audience and gain access to new markets
  • Increased engagement: Unlike traditional advertising, influencer-generated content receives higher engagement levels, which may include direct conversations between influencers and their followers, comments, likes, and shares. This provides valuable insights and feedback to your wine brand
  • Trust and authenticity: Influencers have established trust with their following via genuine connections and consistent content creation. Once influencers promote your wine businesses, it strikes their followers as a personal recommendation, enhancing your brand message’s authenticity and credibility

Social media facilitates direct and immediate interactions

Social media channels facilitate direct, immediate interactions between your wine business and its customers, encouraging real-time connections that transform customer experiences. Unlike conventional marketing platforms, where messaging is broadcast to a broad market without personalized targeting, social platforms allow your brand to engage with consumers individually.

Thanks to this personal touch, your wine brand can create a sense of authenticity and trust among consumers as they feel appreciated and valued. With social media, wine consumers and potential customers can share their experiences and opinions in real time, enabling your winery to measure the success of its initiatives and make the necessary adjustments quickly.

Social media facilitates reputation management

Social media reviews aren’t just feedback; they are trust signals. Prospects and consumers heavily depend on reviews to make informed choices on whether to buy from your winery. While positive reviews can help establish your winery’s credibility, negative reviews can completely put prospects off your brand. Social media enables your winery to promptly, carefully, and transparently address any negative concerns.

Once you acknowledge the issues, find solutions, and address them publicly, your winery can show commitment to brand integrity and consumer satisfaction. Proactive brand reputation management and instant, timely responses can help reduce damage while rebuilding consumer trust. This strengthens your wine brand’s reputation and image and contributes to effortless social media branding.

Endnote

Social media branding is a perfect tool for strengthening your winery’s public perception and developing trust between your brand and its target audience. As the chief marketing officer for your winery, familiarize yourself with the impact of social media on wine branding to determine if it’s an ideal tool for your winery.

Expert Insights: The Growing Impact of Non-Executive Directors on Business Success

Posted on | by Molly Stills

Companies across various industries are recognising the immense value that NEDs (Non-Executive Directors) bring to their boards, helping to drive growth and ensure long-term sustainability.

And, though it was more common to only have NEDs in listed companies, we are now seeing them in private companies, too, including smaller ones.

While a large corporation might appoint a NED to maintain the highest standards of corporate governance, the reasons differ slightly for a smaller corporation; they are instead based on seeking evidence-based assurance and holding the executives to account, as well as providing business experience, object advice and credibility to the SME.

Speaking to Shalini Khemka CBE, CEO and Founder of the entrepreneurial community E2E, she shared her expert insights on how and why NEDs can be important for businesses.

What is a Non-Executive Director?

A Non-Executive Director (NED) is a part-time member of a company’s board of directors, sharing in the collective responsibility for the organisation’s success.

While NEDs regularly attend board meetings, their role can extend beyond this to include diverse tasks such as leading special projects, engaging with shareholders, and representing the company at external events.

Unlike executive directors, NEDs do not have operational duties within the company and are not classified as employees. This can make their relationship with a business more informal, such as with the sharing of information occurring via a more casual method of communication like phone calls instead of formal, arranged meetings.

According to Khemka, a NED can contribute significantly to a company’s growth: “Historically, NEDs have had a large focus on a company’s corporate governance, but now, they are often more heavily involved through supplying expert advice.

“Along with the professional advice they provide to businesses, the emotional support that comes with this is invaluable.

“Through their encouragement, listening and providing reassurance where necessary, the confidence and morale of the executive teams can be improved as a result. Ultimately, this can foster a more cohesive leadership team.”

NEDs offer an outsider’s opinion

An independent perspective on the business, detached from daily operations, is a key advantage of Non-Executive Directors.

By their nature, NEDs should have a wealth of experience to offer a business, preferably gained from involvement with an array of relevant organisations. This feeds into why and how their consultative services become so valuable to a company.

“With their unbiased perspective as someone that is less directly involved in a business, NEDs can offer a more wide-spanning view that provides alternative knowledge and experience – a priceless addition to a company’s growth,” explains Khemka.

This impartiality helps in situations where the executive team may be struggling to reach a consensus, or where outside knowledge and experience is needed to diversify a potentially narrow-minded viewpoint.

NEDs can connect businesses with vital contacts

Along with the extensive knowledge that a NED can bring to a company, they can usually provide access to a wide pool of potential contacts.

“A NED can provide the resources to be able to create relationships with more stakeholders, such as customers, suppliers, and potential partners,” says Khemka.

“Whether the contacts are related to markets you want to expand into, are business contacts that would help an SME to grow at a quicker rate, or they are even contacts that would be able to offer their own advice to your company with their own unique knowledge and experience, they are likely to provide value to your business and its operations.”

Shot of a group of businesspeople sitting together in a meeting

The Executive Dilemma: Will Reducing Responsibilities and Taking a Pay Cut Bring Bliss?

Posted on | by Magdalena Lew

By Cheryl L. Mason, J.D.

A definite trend is developing among senior leaders stepping back or repositioning into different roles, many with less responsibility and less pay. Why?

From my perspective, it is a combination of burnout, high expectations, lack of organizational support, the lingering impact of the pandemic on all of us, including leaders, and the knowledge that change is happening faster than ever before.

As a Chief Executive who led during the pandemic, there were a lot of unknowns for all of us and leading teams through this was stressful. Leaders often describe that leadership is like a hamster wheel. In this situation, it felt the hamster wheel was set on high speed and put outside during a hurricane.

Change is constant but during the pandemic, it hit us like giant waves from almost every direction, every day! From implementing remote work, expanding technological support, maintaining engagement with customers and employees, ensuring productivity continued, and establishing new processes and procedures. What was supposed to be 2 weeks turned into 2.5 years and completely altered the operations of a typical workplace. With all the demands, leaders barely had time to breathe. This negatively impacted leaders’ mental and physical health as well as family relationships.

Additionally, change is still happening faster than ever, from technology to recruitment to employee turnover. AI is everywhere and figuring out how, when, where, and if it should be used is a moving target. As traditional educational training is giving way to more certification-based training, recruitment and hiring has become even more challenging to find and select the best workforce. And to say that sustaining and retaining that workforce is difficult is an understatement. What works today might not work tomorrow, next week, or next month.

Many senior leaders in the C-suite already summoned all the agility and adaptability they did not know they had to lead during and since the pandemic, and they are exhausted. Leaders expected routines and processes to quickly return to the “normal” pre pandemic operations, but that has not happened. C suite leaders are now faced with navigating the “new normal” as employees redefined personal and professional success.

Leaders are reeling, wondering what is around the next corner, and assessing their options.

Employees were not the only ones who redefined personal and professional success during this window of rapid change, some leaders did as well. I was one of them. I chose to alter my course. I had several opportunities for other chief executive and senior roles, but I wanted to experience life on my own terms. With more than 30 years’ experience, I have a great deal to offer. I believe I can do that on a different path, and still make an impact.

Have I seen more of my senior colleagues’ pivot? Yes, but the whys are as varied as the differences in our DNA. In many cases, burnout and exhaustion became the outward demonstration of the leaders’ internal struggles. Leaders felt drained. The cumulative effects of uncertainty, ever present change, navigating constant support of teams and customers, and the continued expectations to deliver results were layered on top of their core responsibilities.

Like me, these leaders still want to impact and make a difference. Yet, in most situations, organizations do not provide pathways for alternative opportunities comparable to sabbaticals in academia or leaves of absence. So, these leaders look for opportunities to continue to add value in various capacities in a wide range of organizations. These have less responsibility and less pay.

A handful of companies worked creatively with the leaders to provide opportunities for transition which included advisory positions to mentor the next group of leaders. In these cases, the organization pursued diverse approaches to leadership, while providing support and encouragement for the new leaders. This enables senior leaders to share their knowledge, while no longer having the responsibility and the stress. This benefits the company by easing the transition for employees, customers, and stakeholders. And provides a bit of a safety net, just in case.

In my opinion, this can be a smart move, if it is done correctly with the right circumstances. There must be a clear delineation of duties and who is the senior leader for employees, customers, and stakeholders.

Finally, many C suite leaders know that sooner or later, they must leave. The question then arises, will it be on your terms or someone else’s?  Most C suite leaders, regardless of organization, know that there is always a chance they will be pushed out. It is better to control the decision than have it forced on you. So, why not prepare and ensure you are comfortable, and make the change on your terms. Transition is hard and tricky, and it can feel scary, liberating, and exciting.

That said, stepping out of a senior leader role also means understanding that you are no longer the final decision maker. That can be more difficult if you have not thought about it. I think this is the reason many leaders take a step into lesser roles; it gives them the opportunity and time to transition.
And sometimes, leaders discover they just needed a respite and want to return to senior leadership, while others carve new pathways and experiences. Regardless of their choice, these leaders are still leading in some capacity, but on their own terms.

I think the changes occurring in senior leadership mirror that of what is happening with employees. The pandemic showed us that life is about living. Work is a part of life, and work can enhance life, but work should not dominate our lives. This perspective was slowly developing through the 2000’s, the pandemic exacerbated it.

This is a significant departure from previous generations’ viewpoints. For my generation, my parents’ and grandparents’ generation, work was life, it defined us. That has and will continue to change as new generations step into leadership positions. Organizations must adjust and adapt to retain strong effective leaders.

While money will always be important, power, perks, and competition are no longer the primary drivers. Leaders and employees of today and tomorrow are driven by purpose and impact. They want to matter and make a difference.  

Finding The Right Tech Partner For Your Business Needs

Posted on | by Jennifer Spencer

The success of your business often hinges on the technology you use and the partners you choose. Whether you’re a startup looking to launch your first product or an established company aiming to modernise operations, finding the right tech partner is crucial.

A good tech partner can help you streamline processes, innovate, and grow. But how do you find the one that’s the perfect fit for your business needs? Here’s a guide to help you make the best choice.

Determine What You Want to Achieve

Before you start your search, it’s essential to have a clear understanding of your business objectives, says CloudSecureTechs CEO. What do you hope to achieve through technology? Are you looking to improve efficiency, enhance customer experience, or develop new products and services? Defining your goals will help you narrow down your options and identify tech partners that align with your vision.

Know Your Technology Needs

Once you’ve established your business goals, check your current technology infrastructure and identify areas where you need improvement. Assess your technology infrastructure, including your website, software, data management systems, and cybersecurity measures. This assessment will help you determine the specific expertise and services you require from a tech partner.

Research Potential Tech Partners

Start your search by conducting thorough research on potential tech partners. Look for companies with a proven track record of success in your industry or with similar business challenges.

Consider their size, experience, and specialization. ‘Understanding a company’s reputation and customer satisfaction is crucial,’ says the CEO of Prototype IT. Check online reviews and testimonials from previous clients to get a sense of their credibility and how they handle projects.

Evaluate Their Technical Expertise

Technical expertise is a non-negotiable when choosing a tech partner. But it’s not just about the technologies they know; it’s also about how they apply that knowledge. A good tech partner should be able to explain complex concepts in a way that’s easy for you to understand. They should also be up-to-date with the latest industry trends and tools.

Ask tech experts about the technologies they specialize in and why they recommend them for your project. Do they have experience with the latest programming languages, frameworks, or platforms? Their answers will give you a sense of whether they’re capable of delivering cutting-edge solutions that can give your business a competitive edge.

Assess Their Communication Skills

Effective communication is key to any successful partnership, and it’s especially important when it comes to technology. Your tech partner should be able to communicate clearly and regularly, keeping you informed about the progress of your project and any potential issues that arise.

During your initial conversations, pay attention to how they communicate. Are they responsive? Do they ask the right questions? Do they take the time to understand your business and its unique challenges? Good communication skills are a strong indicator that they’ll be easy to work with and that they’ll keep you in the loop throughout the project. 

Consider Their Cultural Fit

Cultural fit is often overlooked but is just as important as technical skills. You’ll be working closely with your tech partner, so it’s crucial that your values, work styles, and expectations align. A partner who understands your company culture will be more in tune with your needs and more likely to contribute positively to your business.

Take the time to learn about the company culture of potential partners. Do they prioritize customer satisfaction, innovation, and transparency? Do they value long-term relationships? A tech partner whose culture aligns with yours will make collaboration smoother and more productive.

Look For Flexibility and Adaptability

The tech landscape is constantly changing, and your business needs may evolve over time. An ideal tech partner should be flexible and adaptable, ready to pivot when necessary. They should be open to adjusting their approach based on your feedback and any changes in your business environment.

Ask potential partners how they handle changes or unforeseen challenges during a project. Do they have a process for managing scope changes? Are they willing to experiment with new ideas or technologies if it benefits your project? A partner who can adapt will be better equipped to help your business stay ahead of the curve.

Conclusion

A good tech partner can drive innovation, efficiency, and growth, helping your business reach new heights. By taking the time to understand your needs, define your goals, and evaluate potential partners carefully, you’ll be well on your way to forming a successful and lasting partnership. Remember, the right tech partner is not just a service provider, but a true collaborator in your business’s success.

4 Steps in Adapting Third-Party Business Technical Support  

Posted on | by Jennifer Spencer

Managing technical support in-house can be overwhelming, especially when your team is already juggling multiple responsibilities. That’s why many businesses turn to third-party technical support.   

Outsourcing technical support allows you to focus on your core operations while experts handle the tech challenges. However, to truly benefit from third-party Information Technology (IT) support, it’s essential to make sure that these services align with your specific business needs.   

In this article, you’ll learn the crucial steps to make this transition as smooth and effective as possible. Read on to maximize your tech investments!  

1. Assess Your Business Needs and Goals  

The first step in adapting third-party business technical support is to assess your needs and goals. For a comprehensive evaluation, start by taking a close look at your current IT infrastructure and support requirements.

Think about it: what areas are your internal teams struggling with? Are there specific technical issues that are taking up too much of your team’s time? What about your cybersecurity measures? Understanding these pain points will help you identify which aspects of technical support you need to outsource.   

Say you find out that your business is exposed to countless cybersecurity risks. In that case, you’d want to outsource cybersecurity specialists with local expertise. For instance, if you operate in Cleveland, then finding the best third-party cybersecurity in Cleveland should be a priority. These tech experts can provide tailored IT solutions to address your unique needs while ensuring compliance with regional standards.  

In addition to assessing your current needs, it’s crucial to consider your long-term business goals. Are you planning to expand your operations? Do you anticipate an increase in customer support inquiries?

By aligning your technical support needs with your business goals, you can ensure that the third-party services you choose will scale and adapt as your business grows. This alignment will help make the transition to third-party support a success.  

2. Research Potential Providers   

Once you have a clear understanding of your business needs and goals, the next step is to research potential third-party technical support providers. This process is essential as different providers offer varying levels of service, expertise, and flexibility.   

When choosing an IT support service, look for providers with experience in your industry, as they’re more familiar with the specific challenges you face. Industry-specific expertise can make a significant difference in the quality of support you receive.   

Also, consider the provider’s track record. Read customer testimonials, case studies, and reviews from other businesses that have used their services. For example, if you’re planning to partner with the third-party team at Gravity Systems, visit their website to explore their client success stories and case studies.   

Pay attention to how they helped other companies overcome technical challenges like yours. This research will give you a sense of whether the tech support business can deliver the level of technical assistance you need.  

Finally, don’t hesitate to ask potential providers for references or to set up meetings with their current clients. Speaking directly with other small business owners who work with the technical support services can give you valuable insights into their reliability, customer service, and overall effectiveness.  

3. Plan the Transition   

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Once you select a provider and agree on the terms, the next step is to develop a detailed transition plan. This plan should include timelines, key milestones, and specific deliverables to guide the process.   

To create an effective plan, map out the critical steps in the transition. This might include migrating systems, transferring knowledge, and setting up communication protocols between your internal team and third-party provider. It’s essential to identify potential risks during this phase and develop contingency plans to address them.

Note that communication and stakeholder management is crucial for a smooth transition. Make sure all stakeholders, including your internal team and the provider, know the plan and understand their roles and responsibilities. Regular check-ins and status updates can help keep the transition on track and ensure that you address any tech issues promptly.   

4. Review and Refine the Process  

Adapting third-party tech support requires regular review and refinement. After the initial transition, it’s vital to evaluate the effectiveness of the support you’re receiving. This involves tracking Key Performance Metrics (KPIs), such as response times, resolution rates, and customer satisfaction.  

Schedule regular performance reviews with your third-party tech support service provider to discuss these metrics and address any areas for improvement. These reviews provide an opportunity to adjust the Service Level Agreement (SLA), scale services up or down, or refine communication processes as needed.   

Additionally, solicit feedback from your internal team and customers to gain a comprehensive understanding of how well the support is meeting your business needs. Keep in mind that continuous improvement is critical for a successful partnership with a third-party provider. By regularly reviewing and refining the process, you can ensure that the support remains aligned with your business goals and continues to deliver the value you expect.  

Conclusion  

Adapting third-party business technical support is a strategic move that can enhance your company’s efficiency and focus. By outsourcing these essential services, small businesses can free up their internal teams to concentrate on what they do best while ensuring that experts handle their technical challenges. Remember, the process doesn’t end with the transition. Regularly reviewing and refining your outsourcing strategy will keep it aligned with your evolving business needs. With the right approach, you’ll be able to streamline your technical operations, improve efficiency, and focus on what matters most: growing your business.  

businesswoman work at home and virtual video conference meeting with colleagues

Key to Building Trust in Remote Teams

Posted on | by Magdalena Lew

By Cheryl L. Mason, J.D.

Trust in the workplace is generally defined from the employee perspective. To employees, trust means that leaders listen and hear them, that the leader supports and values them and their work through tools from technology to downtime, and that the leader champions them. There is another aspect of trust in the workplace and that is the leader’s perspective. To leaders, trust means loyalty.

Regardless of the perspective, trust must be earned. It is hard in in person environment, and even more so in remote environment and for that reason, it is more important to build.

In the remote workplace, employees are assessing work and making decisions without the ability to pop into the next office or walk down the hall and ask a question. But the employee needs to know that this is okay, especially if an issue develops. Although if the environment is structured properly, that can and does happen. However, if there is not a foundation of trust between leaders and employees that sets these expectations, then leaders will not trust employees. If the employees do not believe that the leader trusts them, then there is a good chance the employee will not reach out for assistance because they don’t believe the leader or the organization has their back and respects them and their opinions.

The best way to build trust in remote teams is communication between team members including leaders. Setting the expectations that it is ok or even expect to reach out and ask questions, discuss issues, and bring problems forward. Teamwork should be the same whether in person or remote – always with faces present. This means turning on the cameras and participating.

Depending on the type of work, check ins among team members may need to occur daily, at the very least weekly.  These should be scheduled at times that work for the entire team, not just the leader. Finally, suggestions, solutions, and concerns should be encouraged and openly discussed. 

Having worked and led in both in person and remote situations, the leader often sets the tone through encouragement, respect, listening, and be open to discussion.