It’s undeniably more affordable to outsource your product manufacturing to a factory in China or India. But, for most entrepreneurs, it’s difficult to discern which factory is the best fit. Instead of learning how to vet a manufacturing partner, many people rely on a sourcing agent to help navigate the process. While it’s easy enough to find a manufacturer yourself or through a third party, sourcing agents and factories on Alibaba too often take advantage of entrepreneurs and new businesses that haven’t learned how to vet a manufacturing partner. Working with the wrong factory can lead to huge amounts of waste and costs: defective and poor-quality products, and missed production deadlines, are all too common when working with a factory that hasn’t properly been vetted. Here’s what entrepreneurs need to know about assessing a potential manufacturing partner. ASK THE RIGHT QUESTIONSviously, the biggest question you will have is the cost: how much the factory will charge to manufacture your product. But cost isn’t the only thing you need to consider. There are plenty of factories out there that will charge pennies – to deliver a product with terrible quality and is virtually worthless. In addition to asking for a price quote, Shopify recommends that you ask these questions to vet a manufacturing partner: What is your minimum order quantity? Especially with a new product, make sure the minimum order quantity (MOQ) is a manageable amount of inventory. Dead-stock is costly; so make sure your MOQ matches your business plan and projections. What is your sample pricing? The price of a sample ranges dramatically, depending on the supplier. It could be free, discounted, or the full retail price – so make sure to ask upfront. What is your production pricing? Shopify’s experts recommend that you “ask for pricing for several quantities to get a sense of if and how they do discounted pricing for bulk orders.” What is your turnaround time? Including the time it takes to ship, how fast can a factory get the product to your business? What are your payment terms? It’s common for suppliers to ask for new businesses to make the full payment upfront, which is something you should certainly know ahead of time. See if there’s room to negotiate if your relationship goes beyond the first order. Do you subcontract work to other factories, or is all the work done in-house? This question is a big one: make sure the factory you’re vetting is the one who will be creating your product. If you’re outsourcing to an overseas company, they are likely to run your email through a translating app. Keep your email short and to the point to make sure that nothing gets lost in translation. ASK TO SEE THE BUSINESS LICENSEReputable manufacturing companies in India, China, and elsewhere will have a business license, and if they can’t show proof of legal incorporation and that they are allowed to export, this is a red flag. Not only can a business license help you ensure quality control, but it also “provides valuable information about the company’s business scope and registered capital,” writes The Next Web. A company's business scope tells you the purpose of founding the company. For instance, if a company was founded to focus on distribution, then the business is probably not as experienced or reliable in manufacturing. They could be a trader, meaning they outsource to other factories. Likewise, if the company has a small amount of registered capital – i.e., the investment with which the business was founded – that could also be a sign the company a trader. Look for manufacturers that have a large amount of registered capital. A good manufacturing partner should send you a copy of their business license. If you want to verify the document, check the relevant government website. Alibaba and Global sources both provide automatic business license verification. GET REFERENCES FROM OTHER COMPANIESPerhaps the most critical step in vetting a company is checking reviews from other clients who’ve outsourced to their factory. Ask the manufacturing partner to provide references from other clients. Get in touch with those clients directly to make sure they had a good experience. Ask your manufacturing partner who else they’ve worked with, and to put you in touch with someone at the company who can verify the relationship. This article is Originally Posted on Gembah
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Lean product development is an approach to developing products that focuses on reducing waste, speeding up delivery, and increasing profit. This approach to product development is used by dozens of successful companies, including John Deere, Nike, and Intel. Originally formulated by Toyota, lean product development is a great approach for new businesses seeking to capture the most customer value with the least amount of waste. Here’s what entrepreneurs need to know about lean product development. BACKGROUND: THE HISTORY OF LEAN PRODUCT DEVELOPMENTLean product development, or lean manufacturing, originates from Toyota in the late 20th century. The Toyota Production System was born from a need to meet the varying tastes of car buyers. After World War II, the growing middle class desired cars of different shapes, sizes, and colors, a demand that Ford’s factory model wasn’t equipped to meet. Consumers wanted different models, thereby requiring different materials, production lines, and skilled labor. Toyota’s approach to meet this demand depended on two central tenets: jidoka and just-in-time. Jidoka is a Japanese phrase that roughly translates to “automation with a human touch.” It refers to a method of quickly identifying and correcting issues that may cause faulty production. “Just-in-time” is a concept that focuses on refining and coordinating each step in the production process so that it only produces what is required for the next phase in the sequence, dramatically lowering waste. The rest of the lean product development methodology flows from these two core values. Toyota designed a system that minimizes waste while maximizing value to the customer in terms of product quality, price, and good design. Other companies have since applied the values of lean product development to software, consumer goods, and other manufacturing processes. PRINCIPLES OF LEAN PRODUCT DEVELOPMENTStemming from jidoka and just-in-time are seven key principles that encapsulate the approach to lean development. These principles dictate how an entrepreneur or new business can adhere to the lean development approach to deliver value and minimize inefficiencies. These principles are: Eliminate waste: waste includes anything which does not provide value to the end-user. Lean product development experts define waste very broadly, from “unnecessary movement of workers on the shop floor” to inventory deadstock and overproduction. Build quality: this is a disciplined approach to making sure products are well-crafted. It includes things like incremental development, automating tasks prone to human error, and constant feedback. Create knowledge: provide a way to capture knowledge and document learning throughout the process. Defer commitment: “To defer commitment means to not plan (in excessive detail) for months in advance, to not commit to ideas or projects without a full understanding of the business requirements,” explains one expert. Deliver fast: deliver a simple product to customers quickly and iterate and enhance new versions thereafter. Respect people: communicate effectively, resolve conflict proactively, respect others and work as a team for the benefit of the end-user. Optimize the whole: every part of the operation must be optimized for one specific end goal – delivering value to the customer. Lean product development principles have been rewritten and applied to the product design context, as well as to starting a company. The Lean Startup, a 2011 book about product development, outlines how to avoid building a product that no one wants or needs by learning from Toyota’s original lean product development principles. In today’s competitive economy, applying a lean product development approach can dramatically improve your company’s chance of success. HOW TO USE LEAN PRODUCT DEVELOPMENTLean product development begins by considering what specific value your product or service can provide for customers. What problem are you solving by developing this product? Do market research and competitive analysis to make sure the demand for what you have to offer truly exists. Next, incorporate the principle of holistic optimization. Get all stakeholders involved from the start. Identify a partner who can work with your business from product design to sourcing to production management and logistics. “Collaboration in the early stages of a project reduces the number of negative impacts and holdups that can happen down the line as progress continues. Getting manufacturing involved ahead of time allows for problems to be identified and resolved early, before they cause deliverability issues later,” describes one expert. Then, look at ways to eliminate steps in the process that are wasteful or inefficient. The next phase of your lean process seeks to optimize production – often simply constructing a minimum viable product for consumer feedback and testing. An MVP is a version of a product with just enough features to allow customers to conceptualize what your final product will be and provide feedback accordingly. Respond to customer pull and iterate your initial vision based on what the market demands. Finally, repeat the process until you’ve achieved perfection. Perfection, as defined by lean product development, is “measurable value with no waste.” It’s an extremely sustainable, profit-building method for product development. Inevitably, this approach benefits both consumers and brands. Article originally published at: https://gembah.com/what-is-lean-product-development/ Article copyright (c) protected, all rights reserved. Reuse of this article or any of its content by permission only.
When new businesses fail, most of the time it’s due to running out of cash. Poor cash flow management is the nemesis of the more than 80% of new ventures that go out of business in the first year. It takes a lot of capital to get started, no matter what vertical or industry you’re trying to enter. One of the biggest costs of any new business is equipment: Fundera estimates that entrepreneurs should budget $10,000-$125,000 for their first year’s equipment costs alone. If you’re manufacturing a product, that range can skyrocket, which is why savvy entrepreneurs outsource their supply chain to manufacturing companies overseas. Here are some great reasons why outsourcing your product manufacturing can help your business survive its first year and grow profitably. BETTER BUDGET MANAGEMENT“Reducing costs is the number one reason why companies outsource. In fact, 59% of companies surveyed cited cost reduction as their motivation for putting this into practice,” writes Entrepreneur. Outsourcing to a manufacturing company leads to cost-savings across the board – not just in equipment expenses. As one expert outlines, “savings can be realized in reducing labor costs, overhead maintenance costs, and distraction and redundancy costs.” Many regions around the world offer lower labor costs and use their facilities to serve more than one company. This means you benefit from lower maintenance and utility costs in addition to wages and salary expenses. But, cost-savings are just part of the equation. Outsourcing also gives you the power to manage your budget and prevent overspending. Many manufacturing companies offer a pay-as-you-go model. This allows your business to grow at your own pace, test the market, hone in on your target audience, and check your business assumptions to make sure the demand is there. As a result, your startup can be proactive in managing supply to meet demand, lowering your deadstock and inventory management costs. GAIN EXPERTISEIt’s unlikely that, as a startup, one of your first hires is someone with deep quality control and manufacturing expertise. Few new ventures have an in-house engineer or technician who can take a prototype from initial design to fruition. Even fewer new ventures have the resources to visit the factory, conduct quality control, and make sure all is moving according to plan. The right manufacturing company will bring expertise to the table to help you develop your product the way you had envisioned. These partners have more experience than your average entrepreneur in product quality, cost savings, and supply chain management. Some partners will hold your hand through the whole production process, sending you photos along the way, managing the logistics and compliance of shipping your order, and performing quality control so you don’t have to. These partners can add value to your team and take on work by which your core employees would otherwise be distracted. GO TO MARKET FASTER“Outsourcing manufacturing to an overseas company equipped with the proper resources and personnel gives businesses of all sizes the opportunity to compete at the international level. This approach allows smaller companies the chance to partner up with multi-million dollar production powerhouses, removing limitations on their potential,” writes one blog. When you have a good idea, it’s important to be first-to-market. Outsourcing to a manufacturing company cuts down on the time it takes to be the first one on the scene. Consider the process of manufacturing in-house: first, you have to find a space, then procure equipment, then materials and labor. By the time you’ve manufactured your first prototype, your competitive advantage has disappeared. Work with an existing factory that can take your plan and turn it into a product with speed and scalability. ITERATE WITH FLEXIBILITYOutsourcing your manufacturing allows you to move quickly and respond to demand as the market changes. “Prototyping and other production-related functions can be boosted to allow for innovation without draining internal resources,” writes one expert. “When a sudden uptick in demand occurs, outsourcing allows manufacturing operations to scale up rapidly.” For more mature companies, outsourced manufacturing is a quick and easy way to expand outside your core offering. If you want a low-risk way to test a product, order a small batch based on your initial prototype to see how customers respond. The right partnership will give you a window to change elements of your design throughout the process. As you develop and grow your product offering, your fixed manufacturing costs aren’t going to fluctuate dramatically. This article originally published on: https://gembah.com/why-smart-companies-outsource-product-manufacturing/ For copyrights and publication, please review each individual article for author's information and contact.
Fast Company’s Innovation By Design award winners in 2019 all have a few things in common: they’re sleek, intuitive, and many have a sustainability focus. From a carbon-negative, algae-based plastic raincoat to a reusable takeaway-cup service for large venues, the winning designs all meld form and function to create a great user experience for the customer and the planet. Designing a great product doesn’t happen overnight. There are many product development strategies an entrepreneur can take to reach a break-through design. The process could start with something as simple as a napkin scrawl and continue with finding the right partner to move your design a leap ahead. Here are the different approaches that many businesses take to designing a new product. TRADITIONAL BUSINESS APPROACHThe traditional business approach considers two factors when designing a product. Will the product be viable, i.e., how does it benefit the business? And, what is the operational and technical feasibility of designing the product? Using the traditional business approach to design, a company would identify a problem, or a set of problems, and then derive what the company thought it could offer as a profitable solution. The traditional business approach to product development strategy seems relatively straightforward, but it often doesn’t lead to success. It focuses on the “how” and “what,” rather than the “why” – why does a customer need a product? The metrics for greenlighting a product design, namely viability and feasibility, are company-centric and don’t consider the needs of the end-user. Hence, the rise of design-thinking. DESIGN THINKING APPROACHDesign thinking incorporates the user experience into the design process, moving beyond the simple look and feel part of product design. Design thinking was popularized by IDEO founder Tim Brown, who describes it as “a human-centered approach to innovation that draws from the designer’s toolkit to integrate the needs of people, the possibilities of technology, and the requirements for business success.” One of the aspects of design thinking that makes it so successful is the prototyping phase. Designers can help lower the risk of launching a new product by testing the product design with small groups of users throughout the development process. A prototype helps validate that the product is something a customer can understand, will use, and that the design is appealing before the product goes to mass production. LEAN UX APPROACHThe Lean Start-up and Lean UX approaches take design thinking a step further, putting the prototyping process front and center. Lean Start-up is an approach to starting a business venture that takes an idea, translates it into a product or service, measures how customers respond, and then takes the learnings to pivot or iterate. Lean UX takes that same approach and applies it specifically to design. Lean UX focuses on the human experience behind the design. The deliverables of the entire product development strategy are less important than the learnings the design process delivers. “The core objective is to focus on obtaining feedback as early as possible so that it can be used to make quick decisions,” explains one UX blog. The goal of Lean UX is to get feedback quickly and use it to continuously improve. It’s an approach that is particularly collaborative – as if the customer is designing the product alongside the company. The drawback is that this approach to design can ignore other factors related to development; Lean UX can lead to somewhat of a product design bubble. DESIGN SPRINT APPROACHDesign sprint is a subset of the design thinking approach. There are five phases to the design sprint process that take place on five separate days:
Which approach is right for you? It depends on the maturity of your company and the resources at your disposal. Speak to one of the experts at Gembah to learn how our experts can help with product development strategy. For copyrights and publication, please review each individual article for author's information and contact
Today I received an invitation from Tristan and the Work for Impact team to be part of the initial group of Freelancers to make up the group that gets early access to the platform and a look at the first round of jobs. I would love you to be part of it. Besides being another great channel for Independent Consultants and Freelancers to grow their pipeline, the platform has a purpose, they partner with Non-profits for projects that really make the difference in the world. So far Amnesty International, Sea Shepherd, World Bicycle Relief, Plastic Oceans, along with hundreds of others are on-board for launch. This is your chance to work for some of the biggest charities in the sector! Work for Impact is a platform that seeks to connect skilled individuals with jobs solely from socially and environmentally responsible organizations, and nonprofits. All the jobs posted on Work for Impact will provide opportunities to work with ethical businesses and help contribute to a number of amazing causes around the world! Why would you use Work for Impact?
A new way of working to change the worldThe way people are working is changing. Thanks to technology, geography is no longer a barrier that determines who you can and can’t work with. As a result, over a third of the world’s workforce is now freelancing, and this number is continually growing. The opportunities for today’s workforce are endless, and more and more people are taking advantage of this new economy in order to pursue their interests and find projects they’re passionate about around the globe © 2019 WFI® Inc.
Interested in growing your business? There are a variety of ways to do so; but how do you know which strategy is right for your venture? A market product grid helps companies plot out their growth strategy and visualize the risks associated with expansion. It can help key leaders make decisions around product development, distribution, marketing, and even hiring. The matrix was initially published by Harvard Business Review and has since become a core teaching at business schools all over the world. Here’s what you need to know about a market product grid, and how to use one to initiate your growth strategy. WHAT IS A MARKET PRODUCT GRID? market product grid, also known as an Ansoff Matrix or a product-market expansion grid, is a tool that businesses use to develop a growth strategy by considering new and existing markets, new and existing products, and the risks of each possible relationship. The market product grid divides strategic outcomes by four major categories:
HOW TO MAKE A MARKET PRODUCT GRIDThe simplest market product grid uses two axes: the x-axis for products (new and existing), and the y-axis for markets (new and existing). To use the matrix effectively, business leaders must have a firm understanding of where the best opportunities lie given the company’s current position. Recognize how many resources you can expend, as well as what your risk tolerance is. Typically, strategic leaders start in the market penetration quadrant, where they’re bringing an existing product to an existing market. This quadrant is considered the most obvious starting point for any company: it attempts to gain market share in an existing market. This approach “does not require the company to venture into unexplored markets and products. As a result, it provides a lower amount of risk because essentially the organization’s scope remains unchanged.” However, sometimes increased competition or economic and legal constraints prevent a company from pursuing further market penetration. In these instances, a company might choose to pursue product development: bringing a new product to an existing market. This strategy is one level up on the risk scale. It involves diversifying to new products, but not to new markets; often, companies mitigate this risk by using the same core technology, instead of developing entirely new products. Likewise, this strategy is likely to be more expensive as new talent and tools may be needed to create a new product. Some companies prefer to forgo product development in favor of a market development approach. Market development, bringing an existing product to a new market, requires an effort in planning and customer research. But it doesn’t need to be so complicated. A new market can be tapped simply by:
WHAT GROWTH STRATEGY IS RIGHT FOR YOUR BUSINESS? A product market grid can help you answer this question. But, strategic leaders must factor in costs, risk, and their type of product or customer. A manufacturing or distribution partner can help alleviate some of the burden of expanding into a new market. Mature businesses will have different risk tolerances than a startup, and depending on your industry, it can be hard to find a place that isn’t already fiercely competitive. Do your market research to learn more. This article originally appeared on: https://gembah.com/what-is-a-market-product-grid/ The Misfits Lair, a project by Zinnia Holdings LLC (c) For copyrights and publication, please review each individual article for author's information and contact
Stunning library of over 1 million stock images and videos. Royalty free and safe for commercial use, with no attribution required. Pikwizard is a free stock photo site with over 100,000 high-quality images, with 20,000 that are completely exclusive to the site. Most recently, free stock videos have been added to the site which are perfect for social media marketing and for business owners. What makes Pikwizard stand out is it's high-quality images of people, which are few and far between on the best stock photography sites. You can also take each image and edit it on graphic design tool, Design Wizard. There's also no attribution required!. David Coen Pikwizard.com On Pikwizard.com you can find what you need for your blog, website, project, report, not to mention the multitude of situations a Freelancer or Independent Consultant need high-quality, copyrights-free images. Some of the popular searches are: Happy Birthday Images, White Background, Pictures Of Flowers, Black Background, Cool Backgrounds, Cute Pictures, Blue Background
As the world becomes more globalized and traveling to distant places has become widely accessible, an increased number of Americans are finding themselves with opportunities to work abroad. However, while these new opportunities can often be quite exciting and rewarding, they all still require a large amount of preparation.
Many expatriates tend to overlook the financial planning process of their overseas adventure. In addition to creating a well thought out budget for the trip, there are many other essential details that will need to be accounted for. Fortunately, we have created a detailed guide to help anyone going abroad prepare themselves financially. By making an effort to assure that your finances are well-kept, you will be able to have the life-changing experience that you’re hoping for. Recognizing your initial expenses
When it comes to the average annual cost of living, the United States is on the higher end of the spectrum. This means that, depending on where in the world you are traveling to, you may actually be able to save money while living abroad if you can keep your expenses under control.
Regardless, there are still some paramount expenses to be prepared for:
Preparing your bank accounts
Even once you have created a financial plan for working abroad, you will also need to make sure that your money is actually accessible. Ideally, you will be able to use a bank that has branches (or associate branches) in both the United States and the country you will be living in. Many banks have arrangements with partner banks in other countries, which is why it will be important to confirm the global reach of the one you currently use.
When comparing possible foreign bank accounts, there are several important details that you should pay attention to:
Evaluating your wallet
Now that you have your budget and your bank setup out of the way, the next thing you will need to evaluate is the items you are carrying in your wallet. It is important to recognize the cards and payment options you already own prior to traveling because some cards could have foreign transaction fees or other negative financial implications when used overseas. Do a thorough look at the cards you already have and research any new ones you should get for your travel endeavor.
Fortunately, there are many quality travel credit cards available for you to choose from. Though the card that is right for you will largely depend on your personal preferences, you should keep an eye out for these key features:
Pay attention to exchange rates
It will be important for you to pay attention to exchange rates. Exchange rates are constantly changing, meaning that the amount of Euros (or any currency) you can buy with a United States Dollar may be considerably different by this same time tomorrow. As your departure date continues to approach, it will be a good idea to monitor changes in exchange rate and make the actual exchange at a point when the dollar (USD) is relatively strong:
Currency Converter by OANDA
Credit cards, debit cards and prepaid cards offer some of the lowest currency exchange rates. Do your research to see how the payment methods you use abroad will be affected by exchange rates. Purchasing travel insurance
If you are abroad for a long period of time, there will likely be at least one issue that emerges that you are not initially prepared for. Though traveling is certainly much easier than it was decades ago, there are still many issues you can run into. In order to protect yourself from the risk of the unknown, you will likely need to purchase travel insurance.
The cost of traveler’s insurance will vary depending on your provider, the things that are covered, the length of coverage needed, and the countries that you will be visiting. All things considered, travel insurance is a fairly comprehensive form of insurance that is likely available for much less than you’d initially assume. Expenses that travel insurance typically covers:
Expenses that travel insurance most likely will not cover:
In order to know your exact exposure to risk, you should read the fine print before committing to any policies. Travel insurance can be highly customizable—costs will vary depending on how many types of coverage you hope to include. Other things to consider
Once you have a rough financial plan for your trip, there will just be a few essential details that you will want to be aware of. For your financial and legal security, for example, you will need to be sure of foreign tax status.
Due to the Foreign Earned Income Exclusion and Foreign Tax Credit programs, United States citizens can be protected from double taxation while living abroad. However, you will need to file a tax return in the United States (1040 and possibly others) and pay taxes to the federal government. Variables that can influence your tax situation will include the company you are working for, your intended length of stay, the existence of a work visa, and various others. Lastly, it is important to be aware of scams. Tourists are prime targets for scams abroad. Do your research ahead of time before booking any extracurricular trips, and always trust your gut. Common scamming techniques include pick-pocketing, asking for money upfront with the promise of returning later, using children (often as a distraction) to sell products, unverified currency exchanges, and many others. When navigating a new country, it is also better to be cautious. Taking measures such as wearing a money belt, leaving jewelry and outward valuables at home, and planning your travel routes in advance can all pay off in the long-run. The bottom line
As you can see, there are many important financial considerations to take into account when preparing for an extended trip abroad. There are many events you will simply not be able to plan for, but keeping these three things in mind will be quite helpful:
Published by request of:
Blake Hughes Communications Specialist Bankrate, Inc. 1675 Broadway 22nd Floor | New York, NY10019 Embedded from Top 10 Website Hosting
Based on the TED founding principle, there is one qualification to being a speaker at a conference: having an idea worth spreading. The company was founded in 1984, but has seen a surge of popularity in recent years. TED talks are free to distribute and pretty short (about 12 minutes on average), which is key to their popularity in the digital age. The following videos are essential for anyone in the business world, and will help you to think differently about critical topics such as workplace happiness, communication, and motivation. #1: Ricardo Semler: How to Run a Company with (Almost) No Rules
Brazilian CEO Ricardo Semler talks about what happened when his company broke free from many of the traditional “rules” of work. There are many systems that we keep in place solely because that is the established norm; however, by continually asking ourselves “What am I doing this for?” we can strip away a lot of this external governing. From the interview process to managing vacation days to setting salaries and making board-level decisions, Semler challenges the way that we think about both corporate culture and the existing education system. Watch Ricardo Semler’s TED Talk here #2: Simon Sinek: How Great Leaders Inspire Action People don’t buy what you do; they buy why you do it. This is the main idea behind Simon Sinek’s 2009 talk. He’s a leadership expert and the author of “Start with Why.” He says that the reason Apple, Martin Luther King Jr., and the Wright Brothers were so successful in their respective pursuits was that they started with “why” and let that drive them. When it comes to marketing, companies will largely focus on the “what,” but it is the “why” that resonates with individuals on a deeper level. No matter what industry you are in, this talk will ask you to think about what it is that motivates your company, and give you a new perspective on how to reach and inspire customers. Watch Simon Sinek’s TED Talk here #3: Elizabeth Gilbert: Your Elusive Creative Genius Elizabeth Gilbert, New York Times bestselling author of “Eat, Pray, Love” talks about our mistaken notion of “creative genius” in this 2009 presentation. She discusses how putting the responsibility of “genius” on a person is harmful, and can perpetuate the term of “tormented artist.” If we change the way we think about creativity, she says, we can change the way we work. As humans, our job is to show up to work, and genius can show up if it wants to, but if it doesn’t, we just keep doing our work. Almost ten years after this talk, Gilbert has expanded this idea into a book called “Big Magic.” But all you need is 20 minutes to absorb the idea. Whether you are in an artistic field or not, it’s essential to any company’s productivity and idea flow. Learn how to do the work without the pressure. Watch Elizabeth Gilbert’s TED Talk here #4: Kelly McGonigal: How to Make Stress Your Friend Kelly McGonigal is a health psychologist, and she wants to change our relationship to stress. She cites scientific studies that show how people who believe stress is bad for them often experience harmful effects on their health; however, those who view stress as a positive, have little to no ill effect. McGonigal explains the body’s biological response to stress, why it is helpful, and how it can promote human connection. This fascinating 2013 talk will change the way you view stress at work, and might even inspire you to alter the way you problem solve within your business. Watch Kelly McGonigal’s TED Talk here #5: Margaret Heffernan: Why It’s Time to Forget the Pecking Order at Work Businesswoman Margaret Heffernan discusses why the “superchicken model,” or the idea that the strongest and most aggressive employees are those that will help a company succeed, can actually have a negative effect on productivity. Through our lives—and particularly in the business world—there is a general understanding that the way to get ahead is through competition. Heffernan argues that instead of pitting employees against one another, we should be focusing on developing teams that promote empathy, diversity, and equal contribution.Through increased socialization at work, we can create a general culture of problem-solving together, and ultimately increase overall performance. Watch Margaret Heffernan’s TED Talk here #6: Susan Colantuono: The Career Advice You Probably Didn’t Get Every woman should watch this video. CEO and founder of Leading Women, Susan Colantuono, talks about why the highest percentage of women are stuck in middle management. She states that there is conventional advice that is given to professional women, typically around helping them build confidence, but this varies from the “criteria for advancement” that is needed to break into senior management. Understanding a company’s business, strategic, and financial acumen is the door to professional advancement, and is directly tied to the gender gap that we see in many companies today. Watch this video to ensure that all employees are given the tools they need to advance their careers and best contribute to the success of your company. Watch Susan Colantuono’s TED Talk here #7: Dan Ariely: Are We in Control of Our Own Decisions? Behavioral economist Dan Ariely uses optical illusions as a way to discuss decision making and explain why we are not as in control of our decisions as we think may think. His funny, insightful talk proves that the way information is presented is perhaps the most important factor in business. Particularly when there are decisions in front of us that are complex and difficult, we will often look to external factors to help us make them; when we don’t know what to do, we will take the road of least resistance and “choose” the direction that is presented to us at the start. This is a fascinating and essential speech for anyone in the business of communication and looking to influence consumer behavior. Watch Dan Ariely’s TED Talk here #8: Daniel Pink: The Puzzle of Motivation Career analyst (and Al Gore’s former speechwriter) discusses the puzzle of motivation. Daniel Pink points to scientific experiences to prove that higher incentives do not always increase performance; in fact, a larger reward can actually lead to poorer performance. Pink states that businesses instead need to look for areas of intrinsic motivation, as individuals are more likely to do things because they believe that they matter and are important. The ideas he presents will change the way you run your business and manage your teams, promoting growth that he believes can change the world. Watch Daniel Pink’s TED Talk here #9: Shawn Achor: The Happy Secret to Better Work Shawn Achor is a positive psychologist and the CEO of Good Think Inc. In his 2011 talk, he proposes that happiness causes success, rather than the common societal belief that success causes happiness. If you are happy in your present moment, you will be more productive, get better results and be more successful overall. Changing the lens through which you view happiness and the world around you can improve productivity within your business, and spread to your employees and coworkers. A simple happiness shift could potentially lead your business to grow in directions you hadn’t allowed yourself to think of before. Watch Shawn Achor’s TED Talk here #10: Malcolm Gladwell: Choice, Happiness and Spaghetti Sauce Writer Malcolm Gladwell tells the story about what the search for the perfect spaghetti sauce revealed about human happiness. So often businesses seek to find out what consumers want by simply asking them. However, not only do many people not necessarily know what it is that they want, but this assumes that there is a universal answer or product for everyone. In fact, companies need to understand variability between consumers, and the importance of segmentation. By doing so, you’ll be able to better understand and communicate with your audiences, and increase their overall satisfaction with your offerings. This talk will change the way you think about choice within your business, no matter what you sell. Watch Malcolm Gladwell’s TED Talk here #11: Seth Godin: How to Get Your Ideas to Spread Marketing expert and blogger Seth Godin has a really simple but effective theory behind increasing sales and spreading ideas: sell your ideas to the people who love your product, and let them tell their friends. Another way to say this is…be remarkable. Make something worth noticing, and the people who want to notice will, and will go on to help you sell your product. This is a different approach than the status quo of “selling to the masses.” While the concept is simple, it can be incredibly powerful when effectively employed. Watch Seth Godin’s TED Talk here #12: Susan Cain: The Power of Introverts Susan Cain is a writer, lecturer, and champion for the introvert, as is evidenced by her 2012 TED talk. In 2015 she co-founded Quiet Revolution, whose mission is to make schools, workplaces, and the world easier for introverts. In this speech, Cain makes a case for the introvert, starting with why introversion is looked down upon, and then explaining why the idea that introverts cannot be leaders and innovators is incorrect. To create a more balanced workplace, increase collaboration and communication, and to help you understand the potential of introverts on your team, watch this talk. Watch Susan Cain’s TED Talk here The Power of TED TED Talks are a tremendous resource that every business owner and professional should be taking advantage of. Any one of the talks on this list can help expand your potential and acumen, giving you a new perspective and plenty of inspiration. Learn from experts across a wide range of fields, and see your business strengthen and grow. |
The AuthorI dedicate my life to science, technology, music and to bringing people together. And I do it my way. Archives
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