Waking Giants New Zealand

Month: May 2023

Look for hidden figures – Waking Giants

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The Lone Leader Weekly

21st Dec 2022

Suck at something new for a while

It’s better than being left behind.

#1. Don’t run through walls alone.

When we want to break down barriers, sometimes we need help. Someone that has the strength to be on our side no matter the repercussions

#2. Relevancy creates longevity.

Don’t wait to change. Be constantly learning and constantly adding value to yourself and those around you.

#3. Something borrowed, not new.

We don’t always need new solutions; that’s the fuel of our egos.

99% of the time, the solution already exists; we need to allow ourselves the space to let it rise to the surface or ask for help.

If you have watched the film Hidden Figures, I hope these simple ideas resonate with you; if not, I’ll explain.

A true story set in times of unjust racial prejudice and the space race between the Americans and the Russians. The plot talks about the overwhelming capability of a human being if two factors are in play:

  1. When the need for change shines a spotlight on the ability to stay relevant.
  2. New thinking creates new solutions.

In a critical scene, one of the ‘computers’ (Humans were called computers before the introduction of the IBM) had to run over 1 mile to use the bathroom as people of colour didn’t have a bathroom in their division.

Time after time, she would disappear, prompting her program leader to ask where she was all the time. On one occasion, confronted about the issue, she broke down, she was the smartest in the room, yet the system didn’t see her as equal.

Soon after, the program leader is seen smashing the ‘whites only’ sign down, showing a level of respect and leadership that stunned his computers.

Lesson one: When we want to break down barriers, sometimes we need help. Someone that has the strength to be on our side no matter the repercussions.

In another incredible twist to the plot, one of the ‘computer supervisors’ consistently asked to be recognised by her manager for the work she was already doing. But once again, the system didn’t recognise her talent.

A positive act of defiance followed. She witnessed the installation of the first IBM computer at NASA; while the engineers couldn’t figure out how to use it, she saw an opportunity to become more relevant. She realised that as soon as this machine was operational, she and her colleagues would be replaced.

Rather than resign herself to the scrap heap of irrelevance, she took it upon herself to learn to code and become the one that got the machine working.

Not only that, she insisted on training her colleagues so they would become more valuable to the organisation rather than a picture of the past.

Lesson two:  Don’t wait to change. Be constantly learning and constantly adding value to yourself and those around you. Relevancy creates longevity.

The final lesson I want to share is about habits and how to use hidden figures to change the trajectory of the future.

One of the challenges of the mission was that the current calculations wouldn’t bring the shuttle back to earth; they needed to create new maths to change the orbit and get the astronauts home safely.

This is one of my favourite scenes, as there is much to inspire you and your business.

Lesson three: She didn’t focus on creating something new; she looked to the past for maths that had already been made. 

We don’t always need new solutions; that’s the fuel of our egos. 

99% of the time, the solution already exists; we need to allow ourselves the space to let it rise to the surface or ask for help from other people or industries.

Lesson Four: The solution won’t present itself when you are in a continuous loop (or habit). 

You need a point of disruption in the loop and send you on a new and positive trajectory.

If they didn’t break this loop, the shuttle and those on her would have been lost.

Illustrated below: For change to occur, something has to change.

Hidden figures

While we may not be trying to send a rocket into space or bring it home, our lives are littered with moments where we don’t feel we can progress.

At that moment, we need someone we trust to have the courage for us.

When we feel like we are becoming irrelevant, look to learning as your saviour, and suck at something new for a while. It’s better than being left behind.

Finally, when the solution you have keeps giving you the same results, disruption creates a new trajectory.

The new course may be risky and unknown, but you are likely not the first to encounter this issue; look to prior knowledge to create a new path for you.

Regardless of your life or business, the ability to continuously ask new questions will inevitably create new outcomes.
Until next time look for those hidden figures.
G.

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7 Essential Leadership Traits for Success – Waking Giants

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Effective leadership is crucial for success in any organization.

A good leader can inspire team members to exceed their potential, navigate change quickly, and reach new heights. However, not all leaders are created equal.

To become a successful leader, it’s important to possess certain traits that set you apart from the rest. This article will discuss the seven essential leadership qualities and traits that aspiring leaders should strive to develop.

The Importance of Effective Leadership

Effective leadership is not just about good leadership or maintaining order and direction in an organization. It is also about empowering the people under your leadership to do their best work. Leaders influence behaviours, attitudes, and, ultimately, the team’s overall success.

Leadership is an essential component of any organization. An effective leader sets the tone for the team and provides the necessary guidance to achieve success. Leaders must be able to inspire and motivate their team members to work towards a common goal.

The Role of Leaders in an Organization

Leaders serve as the gatekeepers of an organization’s vision and mission. They are responsible for guiding the team toward achieving the organization’s goals. People in leadership positions must be able to communicate their vision clearly and encourage their team members to work together cohesively.

Effective leaders must also be able to adapt to changing circumstances and make decisions that are in the organisation’s best interest. They must possess leadership qualities, strong communication skills, be able to delegate tasks effectively and lead by example.

The Impact of Leadership on Success

A good leader can transform a mediocre team into a high-performing one. Leaders who possess the right traits can create an environment of trust and respect where individuals can perform at their highest level.

Leadership is about achieving short-term goals and creating a sustainable and prosperous organization. Influential leaders understand the importance of continuous improvement and are always looking for ways to enhance their team’s performance.

Leadership is not limited to the workplace. Effective and passionate leaders can also positively impact their communities and society. They can inspire others to take action and create positive change.

The Bottom Line

Effective leadership is crucial for the success of any organization. Leaders must possess the right traits and skills to guide their team towards achieving the organization’s goals. They must be able to inspire and motivate their team members to perform at their highest level.

By creating an environment of trust and respect, great leaders can transform a mediocre team into a high-performing one. Effective leadership is not just about achieving short-term goals; it is about creating a sustainable and successful organization that can positively impact society.

Trait 1: Communication Skills

Effective communication is one of the most essential traits for any leader. Leaders who have good leadership qualities and can communicate articulately and empathetically can gain the trust and respect of their team members. Communication skills are critical when establishing and articulating the organization’s vision and goals.

Active Listening and Empathy

A good leader should have strong and active listening skills. Listening actively to their team members’ needs and concerns fosters stronger relationships and improves teamwork. Empathy helps good leaders understand their team members’ perspectives, enabling them to communicate more effectively and inspire their team members to greater heights.

For instance, a leader who listens actively and empathetically to their team members can better understand their strengths and weaknesses. This can help the leader assign tasks and responsibilities aligned with their team members’ strengths, increasing job satisfaction and productivity.

Additionally, active listening and empathy can help leaders identify and address any issues or concerns their team members may have. By addressing these issues promptly and effectively, leaders can prevent potential conflicts and improve team morale.

Articulating Vision and Goals

Leaders need to be clear about the organization’s vision and goals. Leaders who can communicate their organization’s vision in a clear, concise, and compelling manner can inspire their team members to achieve extraordinary results. Clear communication can also help the team to remain focused on achieving the organization’s goals and objectives.

For example, a leader who can articulate the organization’s vision and goals can help their team members understand the bigger picture and how their contributions fit into the overall strategy. This can help team members feel more engaged and motivated, increasing productivity and job satisfaction.

Furthermore, clear communication of the organization’s vision and goals can help to align the team’s efforts towards a common goal, promoting collaboration and teamwork. This can also help to prevent misunderstandings or conflicts that may arise from differing interpretations of the organization’s objectives.

In conclusion, practical communication skills, including active listening, empathy, problem-solving, and clear articulation of vision and goals, are crucial for any leader. By developing and honing these skills, leaders can inspire and motivate their team members to achieve extraordinary results, leading to increased productivity, job satisfaction, and overall success.

Trait 2: Emotional Intelligence

Leaders who possess emotional intelligence are highly effective at managing their own emotions and those of their team members. They can better understand, manage, and navigate the characteristics of various workplace relationships, conflicts or issues.

Emotional intelligence is a crucial trait that can help leaders create a positive work environment. When leaders are emotionally intelligent, they can connect with their team members on a deeper level, leading to increased productivity and job satisfaction.

Self-Awareness and Self-Regulation

Leaders who can practice self-awareness and regulation can manage their emotions effectively. They can also help their team members do the same. Self-awareness helps leaders understand their strengths and weaknesses and their impact on others. It allows them to recognize when they are experiencing challenging emotions and take steps to manage them healthily.

Self-regulation is also important for leaders. It enables them to think before they act, remains calm under pressure, and respond more appropriately to various situations. When leaders can regulate their emotions, they are less likely to make impulsive decisions or say things they may regret later.

Empathy and Relationship Management

In addition to understanding their own emotions, leaders who exhibit empathy and relationship management can better understand and manage the emotions of their team members.

Empathetic leaders understand their team members’ perspectives, feelings and motivations, which can help to foster stronger relationships. With relationship management skills, they can build, maintain, and strengthen more productive work relationships based on trust and respect.

Empathy is a powerful tool for leaders. When leaders can put themselves in their team members’ shoes, they are better equipped to address their needs and concerns. This can lead to a more positive attitude and supportive work environment.

Relationship management is also essential for leaders. It involves building strong relationships with team members, clients, and other stakeholders. When leaders can manage these relationships effectively, they can better collaborate, communicate, and achieve common goals.

In conclusion, emotional intelligence is a critical trait for leaders. By practising self-awareness, self-regulation, empathy, and relationship management, leaders can create a positive work environment that fosters productivity, job satisfaction, and success.

Trait 3: Adaptability

In today’s fast-changing environment, leaders must remain agile and adaptable to any situation. Adaptable leaders can better navigate change, find innovative solutions, and lead their teams through new directions.

Adaptability is a critical trait for leaders, especially in today’s business world, which is constantly evolving. Leaders who possess this trait can adjust their strategies and plans to meet the changing needs of their team, clients, and industry.

They are not afraid of change and always look for ways to improve their approach.

Embracing Change and Innovation

Adaptable leaders understand the importance of embracing change and innovation to stay ahead of the curve. They are always looking for new and innovative ways to solve problems and improve their business. When the landscape shifts, adaptable leaders can adjust their strategies and plans to ensure the team remains focused and productive.

Embracing change and innovation can be challenging, but adaptable leaders understand that it is necessary to remain competitive. They encourage their team members to think outside the box and come up with creative solutions to problems.

Learning from Failure and Success

Leaders with adaptable leadership skills understand the importance of learning from successes and failures. Adaptable leaders can learn from past experiences, good or bad, and incorporate those lessons into future strategies.

Learning from failure is an essential part of growth and leadership development. Adaptable leaders understand that failure is not the end but rather an opportunity to learn and improve. They encourage their team members to take risks and try new things, even if they may not succeed the first time.

Additionally, adaptable leaders also understand the importance of learning from successes. They take the time to celebrate their team’s successes and analyze what worked well so that they can replicate those successes in the future.

Overall, adaptability is a critical trait for leaders who want to succeed in today’s fast-paced and ever-changing business world. Adaptable leaders can navigate change, embrace innovation, and learn from successes and failures to lead their teams to success.

Trait 4: Decision-Making Abilities

Leaders who make sound decisions can drive successful outcomes while minimizing risk. Decision-making skills combine with analytic and critical thinking skills to make strong leaders quickly evaluate and assess the impact of decisions on their team.

Analytical and Critical Thinking

Effective analysis and critical thinking skills are critical components of strong decision-making. Leaders who can evaluate the possibilities and implications of alternative courses of action can make informed decisions that benefit their team.

For example, imagine a company considering a major change in its business model. A great leader with strong analytical and critical thinking skills would be able to evaluate the potential benefits and drawbacks of the change, consider alternative solutions, and make a decision that is in the company’s and its employees’ best interest.

Balancing Risks and Rewards

Leaders must also balance risks and rewards when making decisions. They must take calculated risks and not shy away from making decisions that might be challenging. Making informed decisions that benefit their team, organization, and themselves is the hallmark of true leaders and great leadership.

For instance, a leader considering expanding their business into a new market must weigh the potential risks and rewards. They must consider factors such as market demand, competition, and potential regulatory hurdles. By taking calculated risks, a leader can position their organization for success while mitigating potential negative outcomes.

Ultimately, effective decision-making is a critical skill for any leader. By combining analytical and critical thinking skills with the ability to balance risks and rewards, leaders can make informed decisions that benefit their team, organization, and themselves.

Conclusion

Leadership is not something everyone is born with but can be developed through self-reflection, learning, and positive experiences. Effective leadership requires a unique blend of traits and qualities, such as good communication skills, emotional intelligence, adaptability and decision-making abilities.

By developing these seven essential leadership qualities and traits discussed in this article, aspiring leaders can pave the way for success while inspiring and empowering their teams to be the best they can be.

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The Story We Tell Ourselves – Waking Giants

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The Lone Leader Weekly

22nd Mar 2023

You Are The Center Of Your Universe

If You Get It Wrong. You Have No One To Blame.

#1. Don’t Be A Character. Be An Author.

If you want to live your own life, you must make that mental shift to be an outlier. Prepared to stand alone, a tribe of one.

#2. Learn To Live With The Bruises.

But move forward despite them.

#3. We Can Be Our Own Therapist.

When we look into ourselves, we find ourselves, and it might not be pretty. That is where the answers lie.

Each day we write another chapter whether we believe it or not.

As Lone Leaders and humans in general, we are extremely good at creating stories that define us.

Whether it’s about our identity, sense of success or our place in the world, most of what we tell ourselves is simply not true.

Only this morning, I sat with a friend that shared a very confronting situation of spousal abuse; as you can imagine, I won’t get into that here, but I found it shocking, and it got me thinking.

How does one exist in a relationship that causes harm and takes away your dignity and strength, both mentally and physically?

From what I have been told in many of these situations, negative storytelling is a weapon for control. You are a character in a story that another person is writing, and the story doesn’t have a happy ending.

They are told that they are this, that and the other; they are consumed, but whatever loyalty drives them towards this person and not away.

More stories; he loves me really, it’s my fault, it will get better.

Filling in the data gaps that anyone outside the relationship would be able to see as a clear criterion to end the relationship and get away.

To write a new story, where you are the author.

While I appreciate this is an extreme example, and I share my thoughts with limited knowledge and utmost respect, it perfectly illustrates the power of storytelling and its effect on our lives.

When it comes to Lone Leaders, we use stories every day to get us through, both good and bad. The real insight is in the ability to observe the story, understand the plot, the characters and ultimately, how you want it to end.

In the simplest example, we may share with our partner when we get home that ‘today was shit’, when the reality is that a moment or decision was shit, that we have escalated and applied that story to everything else.

‘Why does this always happen to me?’ – Is a good one. I don’t need to explain it, but you can see how easily a story can define your view of the world and how you move through it.

Here are a few others that we have all probably experienced:

Why are they so successful, and I am not? – You have no idea of their full story, just the cover.

I’m not a leader as I am not good with people – Leadership is a learned skill; you can learn too.

The market is slowing, so I can’t grow – Adapt and overcome, go back to basics and identify where your value lies.

I’m not ready yet; it’s not perfect – You’ll never be ready, so start.

People just don’t get it; they are all wrong; I’ll show them – Maybe you are explaining it poorly; it’s not them, it’s you!

We cannot hide from the fact that we use stories all day, every day. But what we can do is use three simple steps to improve how we deal with them:

1. Observe (self-awareness). Ask why the story exists and what is fuelling it. Most won’t do this as they are afraid of the answer; they choose to suffer instead.

2. Learn (mindset). Once you know why, you start to understand. Avoid making yourself a victim. Take the information as the blueprint for change.

3. Act. (movement). The worst thing you can do is have all that data and do nothing. By taking action, you create progress, and the cycle starts again.

Observe. Learn. Act – over and over and over.

When we look into ourselves, we find ourselves, and it might not be pretty.

That’s where change lives. Not in the superficial comparison to our Facebook friends or TMZ celebrity articles.

Now all you have to do is decide if you are a fiction or non-fiction author.
Until next time. Observe. Learn. Act.

G.

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A Comprehensive Glossary of Business Terms – Waking Giants

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Running a successful business requires mastering a broad range of concepts and terminology.

Whether you’re an entrepreneur, a small business owner, or a corporate executive, it’s essential to have a solid understanding of key business terms. In this comprehensive glossary, we’ll explore various business concepts, from financial terms to marketing strategies, operations management, human resources, legal issues, sales, and technology.

Let’s dive in.

Understanding Key Business Terms

Running a business requires a thorough understanding of various concepts critical to its success. In this article, we’ll explore some of the most essential terms and concepts every business owner should know.

Financial Terms

One of the most critical aspects of running a business is managing your finances. Here are some essential financial terms you need to know:

Accounting and Bookkeeping

Accounting is the process of recording, classifying, and summarizing financial transactions to calculate revenue and provide information to make informed decisions. Bookkeeping is recording daily transactions in a ledger, such as sales, expenses, and purchases. It’s essential to keep accurate financial records to track your business’s financial health.

Without proper accounting and bookkeeping, it’s difficult to know how your business is performing financially. You won’t have an accurate picture of your net income made, expenses, and profits. This can make it challenging to make informed decisions about your business’s future.

Financial Statements

Financial statements are reports that show the financial performance of a business. It includes an income statement, balance sheet, and cash flow statement. These statements help investors, creditors, and other stakeholders understand how well your business is performing financially.

Financial statements are essential for making informed decisions about your business’s future. They provide a snapshot of your business’s financial health and can help you identify areas where you need to improve.

For example, if your income statement shows that your expenses are higher than your revenue, you may need to cut costs or increase your sales.

Budgeting and Forecasting

Budgeting is the process of creating a financial plan for your business. It involves setting goals, estimating revenue and expenses, and creating a plan to achieve those goals. Forecasting is predicting future financial performance based on past data and current trends.

Budgeting and forecasting are critical for managing your business’s finances. They help you plan for the future, set realistic goals, and make informed decisions about your business’s growth.

Without proper budgeting and forecasting, it’s challenging to know where your business is headed financially.

Investment and Financing

Investment and financing are essential for the growth and success of a business. Investment refers to the money put into a business by an investor in exchange for a stake in the owner’s equity ownership. Financing refers to the various ways businesses raise capital, such as loans, lines of credit, and issuing bonds or stocks.

Investment and financing can help your business grow and expand. They provide the capital you need to invest in new products, expand your operations, or hire new employees. However, it’s essential to understand the risks involved in investment and financing. Taking on too much debt or giving away too much ownership can harm your business’s long-term success.

Other key terms to get familiar with:

  1. Assets – Assets are anything that has value and can be owned by an individual or business, such as cash, investments, and property.
  2. Liabilities are debts that a business owes to others, such as loans, accounts payable, and taxes.
  3. Equity – Equity represents the residual value of a company’s assets after subtracting liabilities. It is the ownership interest in a business.
  4. Revenue – Revenue is the income a company earns from its primary business activities, such as selling products or providing services.
  5. Expenses – Expenses are the costs a business incurs to generate revenue, such as salaries, rent, and materials.
  6. Gross profit – Gross profit is the difference between revenue and the cost of goods sold. It is the profit that a business makes before deducting any other expenses.
  7. Net income – Net income is the profit that a business makes after deducting all of its expenses, including taxes.
  8. Cash flow – Cash flow is the movement of money into and out of a business. It is the difference between cash inflows and cash outflows.
  9. Return on investment (ROI) – ROI measures how much profit a business generates relative to the amount of money invested. It is typically expressed as a percentage.
  10. Debt-to-equity ratio – The debt-to-equity ratio measures a company’s financial leverage. It compares the amount of debt a company has to the amount of equity.
  11. Accounts receivable – Accounts receivable is the money that a business owes its customers for goods or services that have been provided but not yet paid for.
  12. Accounts payable – Accounts payable is the money a business owes to its suppliers for goods or services that have been received but not yet paid for.
  13. Working capital – Working capital is the amount of money a business has available to pay its bills and meet its short-term obligations.
  14. Capital expenditure – Capital expenditure is money that a business spends on assets with a useful life of more than one year, such as buildings, equipment, and vehicles.
  15. Operating expenses – Operating expenses are the costs that a business incurs to operate on a day-to-day basis, such as rent, salaries, and utilities.

Marketing Terms

Marketing is creating, promoting, and delivering a product or service to potential customers. Here are some essential marketing terms:

Market Research and Analysis

Market research is gathering and analyzing data to understand the target market. It involves gathering information about the competition, customer needs and preferences, and industry trends. Market analysis involves assessing the data gathered through market research to make informed decisions about marketing strategies.

Market research and analysis are critical for understanding your customers and developing effective marketing strategies. Without proper market research, it’s challenging to know what your customers want and how to reach them. Market analysis can help you identify trends and opportunities in your industry, allowing you to stay ahead of the competition.

Branding and Advertising

Branding is creating a unique identity for your business to differentiate it from the competition. Advertising is promoting your business through various channels, such as TV, radio, print, or digital media.

Branding and advertising are critical for building brand awareness and attracting new customers. A strong brand can help you stand out in a crowded marketplace and build customer loyalty. Effective advertising can help you reach a broader audience and generate more sales.

Digital Marketing

Digital marketing refers to using digital channels, such as social media, email, or web advertising, to promote your business. It’s an effective way to reach a broader audience and measure the success of your marketing campaigns.

Digital marketing is becoming increasingly important in today’s digital age. With more and more people using the internet to research products and services, it’s essential to have a strong online presence.

Public Relations

Public relations is building and maintaining a positive public image for your business. It involves managing your reputation, handling crises, and communicating with the media and other stakeholders.

Public relations is critical for protecting your business’s reputation and building trust with your customers. A positive public image can help you attract new customers and retain existing ones. Effective public relations can also help you navigate crises and handle negative publicity.

Other key terms to get familiar with:

  1. Brand Positioning – Branding is the process of creating a unique name, design, and image that identifies and differentiates a product or service from others in the market.
  2. Target market – A target market is a group of consumers who share similar characteristics and are likely to be interested in a product or service. Target markets can be identified based on demographic, psychographic, and behavioural factors.
  3. Marketing mix – The marketing mix refers to the four Ps of marketing: product, price, place, and promotion. These elements are combined to create a marketing strategy that meets the target market’s needs and achieves business objectives.
  4. Product – A product is a good or service offered for sale to customers. Product decisions include features, design, quality, packaging, and branding.
  5. Price – Price refers to the amount of money customers must pay to purchase a product or service. Costs, competition, and customer perceptions of value influence pricing decisions.
  6. Place – Place refers to the channels and locations through which a product or service is made available to customers. Distribution decisions include selecting sales channels, establishing retail partnerships, and managing inventory.
  7. Promotion – Promotion refers to the activities used to communicate with and persuade customers to purchase a product or service. Promotion tactics include advertising, public relations, sales promotions, and personal selling.
  8. Customer relationship management (CRM) – CRM is the process of managing interactions with customers throughout the customer lifecycle to build long-term relationships and improve customer satisfaction and loyalty.
  9. Content marketing – Content marketing is the creation and distribution of valuable, relevant, and consistent content to attract and retain a clearly defined audience and drive profitable customer action.
  10. Social media marketing – Social media marketing involves using social media platforms to promote a product or service, engage with customers, and build brand awareness.
  11. Search engine optimization (SEO) – SEO is the process of optimizing a website and its content to improve its ranking in search engine results pages, to increase organic traffic and visibility.
  12. Call to action (CTA) – A call to action is a statement or prompt that encourages a customer to take a specific action, such as making a purchase or subscribing to a newsletter. CTAs are often included in marketing messages and materials.

Operations Terms

Operations management involves overseeing the day-to-day business operations and optimizing efficiency. Here are some essential operations terms:

Supply Chain Management

Supply chain management is the process of managing the flow of goods and services from suppliers to consumers. It involves coordinating activities such as procurement, transportation, warehousing, and distribution to ensure a smooth and efficient supply chain.

Effective supply chain management is critical for ensuring your business has the resources to operate efficiently. It can help you reduce costs, improve quality, and increase customer satisfaction. Without proper supply chain management, it’s challenging to meet customer demand and maintain profitability.

Quality Control

Quality control ensures that your products or services meet the expected quality standards. It involves inspecting and testing products, monitoring production processes, and continuously improving quality.

Quality control is essential for maintaining customer satisfaction and building a positive reputation for your business. It can help you identify and address quality issues before they become a problem, reducing the risk of product recalls or customer complaints. Effective quality control can also help you reduce costs and improve efficiency.

Inventory Management

Inventory management involves managing the stock of goods in your warehouse or store. It includes tasks such as ordering, storing, and tracking inventory to ensure it’s available when needed and avoid overstocking or stockouts.

Effective inventory management is critical for ensuring that your business has the resources it needs to operate efficiently. It can help you reduce costs, improve customer satisfaction, and increase profitability. Without proper inventory management, it’s challenging to meet customer demand and maintain adequate stock levels.

Production and Manufacturing

Production and manufacturing involve the processes of creating goods or products. It includes designing the products, sourcing raw materials, manufacturing, assembly, and quality control.

Effective production and manufacturing are critical for ensuring that your business can produce high-quality products efficiently. It can help you reduce costs, improve quality, and increase customer satisfaction. Without proper production and manufacturing processes, it’s challenging to meet customer demand and maintain profitability.

Other key terms to get familiar with:

  1. Capacity planning – Capacity planning is the process of determining the production capacity needed to meet customer demand and then planning and managing resources to meet that capacity.
  2. Lean manufacturing – Lean manufacturing is a production method that focuses on minimizing waste and maximizing efficiency and value creation.
  3. Just-in-time (JIT) – JIT is a production and inventory management method that aims to minimize inventory levels and reduce waste by producing and delivering products only when needed.
  4. Six Sigma – Six Sigma is a methodology for improving quality and reducing defects in production processes through data analysis and statistical methods.
  5. Operations management – Operations management is the field of management that focuses on designing, managing, and improving business operations and processes to increase efficiency and productivity.
  6. Logistics – Logistics is the process of planning, coordinating, and managing the flow of goods and services from suppliers to customers.
  7. Process improvement – Process improvement is the ongoing effort to identify and eliminate inefficiencies and improve processes to increase efficiency, reduce costs, and improve quality.
  8. Business process reengineering (BPR) – BPR is the radical redesign of business processes to achieve dramatic performance improvements, such as reducing costs or improving quality.
  9. Business process outsourcing (BPO) – BPO is the practice of outsourcing non-core business processes to third-party providers to reduce costs and increase efficiency.
  10. Key performance indicators (KPIs) are specific, measurable indicators used to assess and track progress toward achieving business goals and objectives, such as sales revenue, customer satisfaction, or production efficiency.

Human Resources Terms

Human resources management is critical for managing the workforce and ensuring a positive work environment. Here are some essential HR terms:

Recruitment and Selection

Recruitment and selection refer to hiring the right people for your business. It involves developing job descriptions, sourcing candidates, conducting interviews, and offering job offers.

Effective recruitment and selection are critical for building a strong workforce and ensuring that your business has the talent it needs to succeed. Hiring the right people can help you increase productivity and profit margins, reduce turnover, and improve employee satisfaction.

Employee Benefits and Compensation

Employee benefits and compensation are critical for attracting and retaining top talent. It includes perks such as healthcare, retirement plans, vacation time, and bonuses.

Effective employee benefits and compensation can help you attract and retain top talent, reducing turnover and improving employee satisfaction. Offering competitive benefits and compensation can also help you build a positive reputation as an employer of choice.

Training and Development

Training and development refer to providing employees with the skills, knowledge, and resources needed to perform their job effectively. It includes on-the-job training, workshops, and other learning opportunities.

Effective training and development are critical for ensuring your employees have the skills they need to succeed in their roles. It can help you increase productivity, improve quality, and reduce turnover. Offering opportunities for professional development can also help you retain top talent and build a strong workforce.

Performance Management

Performance management involves setting performance expectations, assessing employee performance, and providing feedback and coaching to help employees improve.

Effective performance management is critical for ensuring that your employees are meeting your expectations and contributing to the success of your business. It can help you identify areas where employees need improvement, provide feedback and coaching, and recognize top performers.

Effective performance management can also help you improve employee satisfaction and reduce turnover.

Other key terms to get familiar with:

  1. Onboarding – Onboarding is the process of integrating new hires into an organization and providing them with the necessary training, tools, and support to help them succeed.
  2. Talent management – Talent management is the process of identifying and developing high-potential employees and providing them with opportunities for career growth and advancement.
  3. Compensation and benefits – Compensation and benefits refer to the total package of salary, wages, bonuses, and other rewards that an organization offers its employees in exchange for their work.
  4. Employee engagement – Employee engagement refers to the level of commitment, motivation, and satisfaction that employees feel in their work and their relationships with their organization.
  5. Diversity and inclusion – Diversity and inclusion refers to creating a workplace that values and respects differences in race, gender, age, culture, and other characteristics and promotes equal opportunities for all employees.
  6. Human resource management (HRM) – Human resource management is the practice of managing an organization’s human resources to ensure that they are effectively recruited, trained, motivated, and retained.
  7. Workforce planning – Workforce planning is the process of analyzing an organization’s current and future workforce needs and developing strategies to ensure that it has the right people with the right skills in the right positions at the right time.
  8. Succession planning is identifying and developing potential successors for key leadership positions in an organization.
  9. Employee relations – Employee relations refers to managing the relationship between an organization and its employees, including policies, procedures, and programs to address employee needs and concerns.
  10. Labour laws and regulations – Labour laws and regulations refer to the legal requirements that govern the relationship between employers and employees, including issues such as wages, hours, benefits, and working conditions.
  11. Employee retention – Employee retention refers to keeping employees engaged, motivated, and committed to an organization and reducing turnover and the associated costs.
  12. Workplace safety and health – Workplace safety and health refers to the measures and programs designed to promote a safe and healthy work environment for employees and to prevent accidents and injuries.

Legal Terms

Legal issues can have serious consequences for businesses. Here are some essential legal terms:

Business Structures

Choosing the right business structure is essential for the success of your business. It affects your income taxes due, liability, and governance. The most common business structures include sole proprietorships, partnerships, LLCs, and corporations.

Choosing the right business structure can help you reduce your tax liability and your indirect costs, protect your assets and ensure that your business is governed effectively. It’s essential to understand the pros and cons of each structure and choose the one that best fits your business’s needs.

Contracts and Agreements

Contracts and agreements are legal documents that govern the relationships between businesses and their employees, customers, partners, or suppliers. It includes terms such as payment, delivery, warranties, and liability.

Contracts and agreements are critical for protecting your business’s interests and ongoing costs and ensuring that all parties understand their rights and obligations. It’s essential to clearly understand the terms and conditions of any contract or agreement before signing it.

Other key terms to get familiar with:

  1. Intellectual property – Intellectual property refers to intangible assets, such as patents, trademarks, copyrights, and trade secrets, that are protected by law.
  2. Liability – Liability refers to the legal responsibility for harm or damage caused to someone else, which can result in financial or legal penalties.
  3. Compliance – Compliance refers to the adherence to laws, regulations, and standards that apply to a particular business or industry.
  4. Litigation – Litigation is the process of taking legal action, such as filing a lawsuit, to resolve a dispute or claim.
  5. Arbitration – Arbitration is a form of alternative dispute resolution in which a neutral third party makes a binding decision to resolve a dispute.
  6. Mediation – Mediation is a form of alternative dispute resolution in which a neutral third party helps the parties involved in a dispute to reach a mutually agreeable resolution.
  7. Due diligence – Due diligence is the process of investigating and verifying the accuracy and completeness of information before making a decision or entering into a contract.
  8. Indemnification – Indemnification is the legal obligation to compensate someone for loss or damage they have suffered.
  9. Non-disclosure agreement (NDA) – An NDA is a legal agreement between two or more parties that prohibits the disclosure of confidential or proprietary information.
  10. Non-compete agreement – A non-compete agreement is a legal contract in which an employee agrees not to compete with their employer for a specified period after leaving their job.
  11. Employment contract – An employment contract is a legal agreement between an employer and an employee that outlines the terms and conditions of their employment.
  12. Partnership agreement – A partnership agreement is a legal contract between two or more individuals who agree to share profits and losses in a business venture.
  13. Corporate governance – Corporate governance refers to the system of rules, practices, and processes by which a company is directed and controlled.
  14. Compliance officer – A compliance officer is responsible for ensuring that a business or organization complies with relevant laws, regulations, and standards.

Conclusion

Understanding key business terms is essential for running a successful business. The terms we’ve covered in this comprehensive glossary provide a solid foundation for anyone investing or working in a business environment.

Whether you’re an entrepreneur, a small business owner, or a corporate executive, make sure you’re familiar with these terms to improve your decision-making and achieve your business goals.

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21 Ideas for Starting a Side Hustle – Waking Giants

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In the current environment, relying on a single source of income can be challenging to sustain a living.

Between ever-increasing bills and the rising cost of living, many people are turning to side hustles to supplement their income.

Whether you’re a student looking to earn some extra cash or a seasoned professional trying to make the most of your skills, there are numerous side hustle opportunities. In this article, we will explore the 21 best side hustles you can find today.

Introduction to side hustles

A side hustle is typically a part-time job or gig that you do outside your regular work hours. It’s something you’re passionate about, and it helps you earn money or learn a new skill.

The best part about side hustles is that they don’t require a lot of investment upfront other than your time and energy. You can start small and grow your side hustle over time.

In this article, we’ve compiled a list of side hustles you can do online, locally, or in a creative field.

What is a side hustle?

A serious side hustle idea is a way to earn additional income outside your traditional 9-5 job. It’s an opportunity to pursue your interests, develop new skills, and earn extra cash.

You can think of a side hustle as a flexible job that allows you to work when and where you want, giving you more control over your schedule and income.

Side hustles can range from small projects, such as freelance writing or pet-sitting, to more complex ones, such as starting an online business.

Why consider a side hustle?

A side hustle income can offer many benefits, including financial security, career development, and personal growth. By having an additional source of income, you can pay off debt faster, save for a big purchase, or build up your emergency fund.

A side hustle also provides an opportunity to test new skills and interests, which may help you in your career or lead to new business opportunities. Additionally, a side hustle can improve your work-life balance since you can set your schedule and work from home.

Types of side hustles

There are many different types of side hustles that you can pursue, depending on your interests and skills. One popular option is to offer freelance services, such as writing, editing, or graphic design.

You can find clients through online platforms such as Upwork or Fiverr, or by networking with people in your industry.

Another option is to start an online business, such as an e-commerce store or a blog. This can be a great way to turn your passion into a profitable venture.

If you prefer to work locally, there are plenty of options. You can offer services such as dog walking, house-sitting, or lawn care. You can also teach classes or workshops in your area of expertise, such as cooking or yoga.

These side hustles allow you to connect with your community and make a difference in people’s lives.

Finally, if you’re interested in the creative arts, many side hustles allow you to express your creativity and make money simultaneously.

You can sell your artwork or crafts online or offer your services as a photographer or videographer. You can also teach classes or workshops in your area of expertise, such as painting or music.

Tips for starting a side hustle

If you’re interested in starting a side hustle, there are a few things to remember. First, make sure that you’re passionate about the work you’re doing. This will help you stay motivated and committed, even when things get tough.

Second, be prepared to put in the time and effort required to make your side hustle successful. This may mean working long hours or sacrificing some of your free time, but it will ultimately be worth it.

Third, be patient and persistent. Building a successful side hustle takes time and effort, so don’t get discouraged if you don’t see immediate results. Keep working hard and stay focused on your goals, and you’ll eventually see the fruits of your labour.

Finally, don’t be afraid to ask for help or advice from others who have started successful side hustles. Networking and learning from others can be valuable in growing your business.

Overall, a side hustle can be a great way to earn extra income, develop new skills, and pursue your passions.

Whether you’re looking to start a small project or build a full-time business, there are plenty of opportunities. With hard work and dedication, you can turn your side hustle idea into a successful and fulfilling venture.

Online side hustles

The rise of the Internet has opened up new opportunities for side hustles that can be done online. Here are five online side hustles that you can start right away:

Get paid to test apps and websites

Nothing slows down a company more than a website filled with errors. So developers invite testing teams to go in to test links and test each button to ensure everything works before they go live.

Websites like UserTesting, Userlytics, UserCrowd and Enroll offer dozens of web- and app-testing opportunities. Various competitive gigs offer up to $100, based on an hour-long test.

Freelance writing

If you’re a skilled writer, you can earn money by writing for blogs, magazines, or websites. Many companies and individuals need content written for their websites, social media accounts, or email newsletters. Freelance writing is a great way to express your creativity and share your knowledge with others.

You can choose to specialize in a particular niche, such as travel, health, or technology, and build a portfolio of work that showcases your expertise. There are numerous websites where you can find freelance writing gigs, such as Upwork, Freelancer, and Fiverr. You can also contact businesses directly and offer your services as a freelance writer.

Graphic Design

If you have an eye for design, you can earn money online by creating logos, graphics, and other visual content for businesses or individuals. Graphic design is a highly sought-after skill in today’s digital age, as businesses need visually appealing content to attract and engage their target audience.

You can find design work on freelance platforms (such as 99designs or Designhill) or start your own design business and find clients through social media or online advertising. As a graphic designer, you can work on various projects, from branding and marketing materials to website design and layout.

Deliver food

Food deliveries have also become more popular compared to food delivery apps than grocery deliveries. Food delivery is a simple side hustle that can be launched with plenty of apps, including UberEat / DoorDash – Grubhub & Postmates / Skip The Dish / MenuLog and Menu Log (USA).

Social media management

As social media platforms continue to grow, different businesses and individuals need help managing their presence online. Social media management involves creating and scheduling content, managing interactions with followers, and analyzing social media metrics to improve engagement and reach.

If you’re social media savvy, you can turn your skills into a profitable side hustle. You can find social media management opportunities on freelance websites or by working with local business owners. Social media management is a great way to stay up-to-date with the latest trends and strategies in the digital marketing world.

Virtual Assistant

Virtual assistants are personal assistants providing online services that can help people to arrange appointments, email customer service, travel reservations data entry, and other tasks. This side hustle offers great opportunities for making money at home with minimal time commitment.

Costs and platforms: Your laptop and the Internet are your only costs. Virtual assistants such as TaskRabbit and ChatterBosses help you market services and handle gigs or payments. You can also control the bookings with SquarePay, the payment gateway.

Online tutoring

If you have a special skill, such as knowledge of a particular subject or foreign language, you can make money by tutoring others online. Online tutoring is a flexible and convenient way to share your knowledge and help others achieve their goals.

You can create a profile on tutoring websites like Tutor.com or find students by promoting your services on social media or other online platforms. As an online tutor, you have the opportunity to work with students from all over the world and make a positive impact on their lives.

Affiliate marketing

Affiliate marketing is a way to earn passive income by promoting someone else’s product or service. You receive a commission for every sale you generate through your unique affiliate link. Affiliate marketing is a popular side hustle because it requires minimal effort and can generate a steady income stream.

You can promote affiliate products through your website, blog, or social media accounts. Popular affiliate networks include Amazon Associates, Clickbank, and ShareASale.

As an affiliate marketer, you can promote products and services that align with your interests and values.

Creative side hustles

If you have a passion for the arts, there are numerous side hustles that you can do in the creative field. Not only can these side hustles be a great way to supplement your income, but they can also provide you with a creative outlet that you may not be able to find in your day job. Here are five creative side hustles to explore:

Selling handmade products

If you have a knack for creating unique and beautiful items, you can sell them online through platforms like Etsy or Amazon Handmade. You can make anything from handmade jewellery to knitted scarves or custom clothing.

Many people have turned their passion for crafting into a full-time business by selling their handmade products online. Not only is it a great way to make money, but it can also be a rewarding experience to see people enjoying and appreciating your creations.

Photography and Videography

If you love taking pictures or making videos, you can monetize your passion by selling your work online. You can create a portfolio on websites like Shutterstock or Getty Images and earn money every time your photo gets downloaded.

Alternatively, you can work with local businesses to create promotional videos or take product photos for their websites. There are also opportunities to work as a freelance photographer or videographer for events like weddings or corporate gatherings.

Custom clothing and accessories

If you’re skilled with a sewing machine or enjoy creating unique pieces, you can create your fashion line and sell it online. You can create custom clothing, hats, or accessories and market your products on platforms like Etsy or Shopify. With the rise of sustainable fashion, there is a growing demand for handmade and eco-friendly clothing.

By creating your fashion line, you can make more money and contribute to a more sustainable future.

Art commissions

If you’re an artist, you can take on custom art commissions for clients. These could be anything from murals, portraits, or illustrations for books or magazines. You can find clients by promoting your services on social media, creating a portfolio website, or attending local events and art fairs. Art commissions can be a great way to challenge yourself creatively and create something unique and meaningful for your clients.

Blogging or podcasting

If you love to write or have a message to share with the world, you can start your blog or podcast. You can create a blog or podcast about anything that interests you, from cooking to life coaching, and attract an audience.

Once you have a following, you can make money through advertising, affiliate marketing, or sponsorships. Blogging or podcasting can also be a great way to connect with like-minded individuals and build a community around your passions.

Overall, there are countless creative side hustles that you can explore. Whether you’re interested in crafting, photography, fashion, art, or writing, there is a side hustle for you. By pursuing your passions and turning them into a side hustle, you can not only make extra money but also find fulfilment and joy in your work.

Service-based side hustles

If you’re a people person, there are numerous side hustles that you can do that involve helping others. Here are five service-based side hustles that you can explore:

Rent Out Storage Space

Neighbor is a peer-to-peer website called AirBnB for storage. This allows a lot of storage to be rented from cars to overstocked stocks. You can convert any garage to an attractive side job with an income of several hundred per month. Turo offers a wide range of vehicles, ranging from classics to exotics.

Pet sitting or dog walking

If you love animals, you can earn money by providing pet-sitting or dog-walking services. You can promote your services through social media or word of mouth or find clients through websites like Rover or Care.com.

Home cleaning services

Many people are willing to pay for help cleaning their homes. You can offer your services by advertising through social media or creating a profile on websites like TaskRabbit or Thumbtack.

Personal training or coaching

If you’re passionate about fitness or health, you can monetize your expertise by offering personal training or coaching services.

You can find clients by promoting your services through social media or partnering with local gyms or fitness centres.

Event planning

If you enjoy planning and organizing events, you can start your own event-planning business. You can create a portfolio showcasing your past events and promote your services through social media or local advertising.

Consulting or coaching

If you have experience in a particular field, such as marketing or finance, you can start your own consulting or coaching business, offering your services to clients. You can find clients through social media, advertising, or by attending networking events.

Local side hustles

Local side hustles involve working with people in your community on-demand services and providing services in high demand. Here are five local side hustles that you can explore:

Renting out property or space

If you have a spare room, garage, or parking space, you can earn money by renting it out to others. You can find renters through platforms like Airbnb or Craigslist.

Flipping items for profit

Flipping items involves buying items at a discount and reselling them at a higher price. You can find items to flip at garage sales, thrift stores, or online marketplaces like eBay or Facebook Marketplace.

Participating in market research

Many companies pay people to participate in market research studies. These studies can involve answering surveys, participating in focus groups, taking online surveys or trying out new products. You can find market research opportunities through websites like Respondent or UserTesting.

Offering handyman services

If you’re handy with tools, you can offer your services to people in your community who need help with home repairs or projects. You can advertise your services through social media or by creating a profile on websites like Angie’s List or HomeAdvisor.

Teaching a skill or class

If you have a particular skill or talent, such as playing an instrument or teaching a language, you can make good money just by offering your services as an instructor. You can find students by advertising through social media or by creating a profile on websites like Skillshare.

Tips for success in your side hustle

Starting a side hustle can be challenging, but it can also be a rewarding and fulfilling experience. Here are some tips to help you succeed in your side hustle:

Balancing your side hustle with your main job

It’s important to balance your start a side hustle and your main job. Set realistic expectations for yourself and ensure you don’t compromise your performance at work or your health and well-being.

Networking and marketing your side hustle

To grow your side hustle, you’ll need to network and promote your services to potential clients. Use social media, networking events, or advertising to reach potential customers and build your brand.

Managing your time and resources effectively

Make sure you’re using your time and resources effectively. Prioritize tasks based on their importance and urgency, and find ways to automate or outsource less important tasks.

Setting realistic goals and expectations

Don’t set unrealistic goals for your side hustle. Make sure your goals are achievable and don’t expect overnight success. Be patient, persistent, and willing to learn from mistakes.

Continuously learning and improving your skills

Stay up to date with the latest trends and learn new skills to help you grow your business. Attend workshops, listen to podcasts, and read books about your industry to broaden your knowledge.

Conclusion

Whether you’re looking for extra income or want to pursue your passion, numerous side hustle opportunities exist.

From online gigs to local services, the possibilities are endless. Starting a side hustle may not be easy, but with the right mindset, skills, and hard work, you can turn your side hustle ideas into a thriving business.

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The Lone Leader Blogs – Waking Giants

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Leadership and strategy simplified. The tools that you never knew you needed as a Lone Leader.

How I Use Trauma To Grow – Waking Giants

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The Lone Leader Weekly

1st Feb 2023

There Is Always A Path Through

Over. Under. Through. Round.

#1. Use The Difficulty.

The obstacles you are presented with are not there to stop you; they are there to test you. You can only pass if you want to move forward.

#2. Observe Your Emotions.

Don’t be a slave to them. We all fall victim to our emotional responses. But if we observe the source of our emotions, we start to understand where the solution lies.

#3. Life Will Be Shit. Get On Board.

The moment you accept that life is hard and imperfect, you become free. The obstacles don’t become a shock but your next challenge. Change your mind, change your emotions.

What doesn’t kill us makes us stronger. But it comes with pain.

As I sit and write this piece I am very much in the moment.

Stressed, emotional and reflective. But at the same time I can see the light through.

In my last article I talked a lot about the importance of having an anchor to hold you firm. And it’s times like today, in my life that an anchor must be as strong as possible.

The reason I share these stories in this context is that I believe that being in business brings a high level of trauma, especially when you are a lone leader.

Mental, physical and emotional trauma, we know isn’t a fleeting thing, but leaves scars.

Our family motto is very simple; ‘Difford’s Don’t Quit‘. And we deeply believe in this mindset, while it is in our natural view of life we have had it tested over and over.

So much so that we never see ourselves as victims, but people that are willing to overcome, this can be both a blessing and a curse.

Let me show you how:

1. My mum dies of brain cancer > We buy a house and commit to our lives in NZ.

2. Our first daughter passed away from complications after a long infertility journey > I found a coach to help me heal that turned into my best friend.

3. I was diagnosed with cancer > I simplified my life and business to do more of the things that give me joy.

4. On Friday part of our property flooded as we are getting it ready to sell > We went house hunting and found the right place for the next stage of our journey as a family.

None of these situations are unique to us. So many people have trauma in their lives. But what is so important is to use those moments/situations as rocket fuel.

You don’t have to go set the world on fire, or become a monk to protect yourself from future pain.

But you must use that pain to train your mind to both accept that pain is there to help you and that more often than not it is temporary.

When you are a lone leader it is so easy to convince yourself that this is only happening to you, but thats the story you use to stay a victim.

For example here are the perspectives I gained after each of my traumatic moments:

Mum dies > We all die. But she showed me how to leave a legacy. She was the kindest soul.

Isabelle dies > We were not the first and won’t be the last to lose a child. But through my journey of healing I found a human that I call my best friend and that showed me how to connect with my life fully.

Cancer > So common it’s scary. But fuck its really scary when it’s your turn. From this I decided that I was living a life that wasn’t fully my own. So I took it back. We shouldn’t need a shock, but they work. Don’t take the risk.

Flooding > We got off lightly compared to some. Watching the water pour into our house I realised there are some things that we cannot control and we use a-lot of emotion trying to control them.

What we have learned as a family and me as a person is that we must spend more time on what we can control.

Our thoughts, our responses and our actions.

Our agony lives in the out of control, but our lessons come in the acceptance of the pain and the actions we choose to take.

To be human is to live with pain. But it is also to be conscious of what that pain is trying to teach us.

I am sure that the appropriate professions would find all sorts of diagnosis in my words, but this is my truth, our truth. The lessons are the new truth in how we design our lives.

While many choose a less productive strategy to heal, it’s important to know that observing and embracing these moments can be the source of much joy.

Even if it hurts right now.

If we see lessons rather than failure, we grow.

Until next time. Be brave.

G.

What next?

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14 Examples of Powerful Mission Statements – Waking Giants

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A company’s mission statement is a powerful tool that can guide the world to realize the direction and purpose of the organization to enrich people’s lives.

It is a statement of what the company stands for and hopes to achieve.

A well-crafted company mission and statement can communicate to stakeholders the company’s values and goals, inspire and motivate employees, and help guide decision-making.

This article will explore 14 examples of powerful company missions and statements from companies that have become industry leaders.

Understanding Mission Statements

Before we dive into the examples, let’s first take a closer look at what a mission statement is and its purpose.

A mission statement is not just a statement that outlines a company’s purpose and values. It is a powerful tool that can help guide, inspire, and motivate an organization. A well-crafted mission statement can make all the difference in a company’s future success.

The Purpose of a Mission Statement

A mission statement serves several purposes:

  • Guiding Your Organization’s Direction: A mission statement can help steer the company in the right direction by providing a clear sense of purpose and direction. It enables the organization to stay focused on its goals and values.
  • Communicating Your Purpose to Stakeholders: A mission statement can communicate the company’s values and purpose to investors, customers, and employees. It helps to create a sense of trust and loyalty among stakeholders.
  • Inspiring and Motivating Employees: A well-crafted mission statement can inspire and motivate employees to work towards achieving the company’s goals and values. It helps to create a sense of belonging and ownership among employees.

Key Components of an Effective Mission Statement

So, what makes an effective mission statement? Here are some key components:

  • Concision: A mission statement should be brief and to the point, communicating the company’s purpose in just a few sentences. It should be easy to remember and repeat.
  • Clarity: A mission statement should be clear and easy to understand, avoiding jargon or industry-specific language. It should be accessible to everyone, regardless of their background or expertise.
  • Relevance: A mission statement should reflect the company’s overarching goals and values. It should reflect the company’s unique identity and purpose.
  • Inspiring: A mission statement should inspire and motivate employees and stakeholders, communicating the company’s purpose and vision. It should be aspirational and ambitious while still being realistic and achievable.

A mission statement is a powerful tool that can help guide, inspire, and motivate an organization. By crafting a compelling mission and good vision statement together, a company can create a sense of purpose, vision statements and direction that can lead to long-term success.

14 Inspiring Mission and Vision Statements Explained

Communicating Your Purpose to Stakeholders

A well-crafted mission statement can communicate the company’s values and purpose to investors, customers, and employees. It can help build trust and loyalty among stakeholders, as they understand what the company stands for and hopes to achieve.

Using mission and vision statements clearly articulating the company’s purpose and values, a mission and vision statement can help establish a strong brand identity and differentiate the organization from its competitors. It can also help attract like-minded customers and investors who share the company’s values and vision.

Inspiring and Motivating Employees

A strong mission statement can inspire and motivate employees, communicating the company’s purpose and vision. It can help employees feel connected to the company’s values and goals and encourage them to work towards achieving them.

A mission statement can help foster a positive and productive work environment by providing a sense of meaning and direction. It can also help attract and retain top talent passionate about the company’s vision, mission and values.

By crafting a company strategy and a well-crafted mission statement, organizations can create economic opportunity, establish a strong brand identity, differentiate themselves from their competitors, and build a loyal customer and employee base.

Examples of Powerful Mission Statements

Now that we understand the importance of a strong mission statement let’s explore 14 examples from companies that, with vision statements, have become industry leaders.

Example 1: Google

Google’s mission statement is “to organize the world’s information and make it universally accessible and useful.” This statement is concise, clear, and relevant to Google’s overarching goals and core values. It inspires and motivates employees to work towards making the world’s information more accessible to everyone.

Google’s mission statement is particularly relevant in today’s age of information overload. With so much online information, it can be difficult to find what we’re looking for. Google’s mission statement highlights its commitment to organizing information and making it accessible to everyone, regardless of background or location.

Example 2: Tesla

Tesla’s mission statement is “to accelerate the world’s transition to sustainable energy.” This mission statement focuses on and is concise, relevant, and inspiring. It communicates Tesla the compelling car company’s sense of purpose, mission and vision statements and motivates employees to work towards creating a sustainable future.

Tesla’s mission statement is significant in today’s world, where climate change is a pressing issue. By accelerating the world’s transition to sustainable energy through electric vehicles, Tesla is helping to reduce our reliance on fossil fuels and combat climate change. This mission statement also reflects Tesla’s commitment to innovation and pushing boundaries in the automotive industry.

Example 3: Amazon

Amazon’s mission statement is “to be Earth’s most customer-centric company, where customers can find and discover anything they might want to buy online.” This statement is concise and clear and communicates Amazon’s dedication to customer service. It inspires and motivates employees to prioritize customer service delivery and satisfaction.

Amazon’s mission statement is particularly relevant in today’s world of e-commerce, where customers have a wide range of options when it comes to shopping online.

By prioritizing outstanding customer service first, Amazon can differentiate itself from its competitors and build customer loyalty. This mission statement also reflects Amazon’s commitment to innovation and constantly improving the customer experience.

Example 4: Microsoft

Microsoft’s mission statement is “to empower every person and every organization on the planet to achieve more.” This mission statement defines what is concise and relevant and communicates Microsoft’s dedication to empowering individuals and organizations. It inspires and motivates employees to work towards achieving more.

Microsoft’s mission statement is particularly important in today’s world of technology, where access to information and resources can make a significant difference in people’s lives. By empowering individuals and organizations, Microsoft is helping to bridge the digital divide and create opportunities for people around the world.

This mission statement also reflects Microsoft’s commitment to innovation and using technology to create positive change.

Example 5: Starbucks

Starbucks’ mission statement is “to inspire and nurture the human spirit – one person, one cup, and one neighbourhood at a time.” This statement is concise and inspiring and communicates Starbucks’ commitment to the human spirit, community and connection. It motivates employees to create meaningful relationships with customers.

Starbucks’ mission statement is particularly relevant today when people are often disconnected and isolated. By creating a sense of community and connection, Starbucks can differentiate itself from other coffee shops and build customer loyalty. This mission statement also reflects Starbucks’ commitment to sustainability and ethical sourcing of its coffee beans.

Example 6: Patagonia

Patagonia’s mission statement is “to build the best product, cause no unnecessary harm, and use business to inspire and implement solutions to the environmental crisis.” This company’s vision statement is concise and relevant and communicates Patagonia’s focus on sustainability and environmental responsibility. It inspires and motivates employees to work towards creating a better future for the planet.

Patagonia’s mission statement is particularly important in today’s world, where climate change and environmental degradation are major issues. By focusing on sustainability and ecological responsibility, Patagonia can differentiate itself from other outdoor apparel companies and build customer loyalty. This mission statement also reflects Patagonia’s commitment to using business as a force for good.

Example 7: Nike

Nike’s mission statement is “to bring inspiration and innovation to everyday life for every athlete in the world.” This statement is concise and inspiring and communicates Nike’s dedication to empowering athletes. It motivates employees to create innovative products that inspire people to push their limits and achieve their goals.

Nike’s mission statement is particularly relevant today, where people are increasingly focused on health and wellness to better everyday life. By empowering athletes and creating innovative products, Nike can differentiate itself from other athletic apparel companies and build customer loyalty.

This mission statement also reflects Nike’s commitment to more innovation for every athlete and pushing boundaries in the athletic industry.

Example 8: Coca-Cola

Coca-Cola’s mission statement is “to refresh the world in mind, body, and spirit.” This company spirit statement is concise and inspiring and communicates Coca-Cola’s commitment to creating products that bring joy and refreshment to people’s lives. It motivates employees to prioritize the customer experience.

Coca-Cola’s mission statement is particularly relevant today when people are often stressed and overworked. By creating products that bring joy and refreshment into everyday life, Coca-Cola can differentiate itself from other beverage companies and build customer loyalty. This mission statement also reflects Coca-Cola’s commitment to innovation and constantly improving the customer experience.

Example 9: Airbnb

Airbnb’s mission statement is “to create a world where anyone can belong anywhere.” This vision the mission statement describes is concise and relevant and communicates Airbnb’s dedication to creating a sense of belonging and connection for travellers. It inspires and motivates employees to build a community of hospitality and inclusivity.

Airbnb’s mission statement is particularly important in today’s world, where people are increasingly interested in authentic travel experiences. By creating a sense of belonging and connection, Airbnb can differentiate itself from traditional hotels and build customer loyalty. This mission statement also reflects Airbnb’s commitment to diversity and inclusion.

Example 10: American Red Cross

The American Red Cross’s mission statement is “to prevent and alleviate human suffering in the face of emergencies by mobilizing the power of volunteers and the generosity of donors.” This statement is concise and relevant and communicates the American Red Cross’s commitment to humanitarian causes. It inspires and motivates volunteers and donors to help support those in need.

The American Red Cross’s mission and vision statement is particularly important in today’s world, where natural disasters and other emergencies are becoming increasingly frequent.

By mobilizing volunteers and donors, the American Red Cross can provide critical support to those in need. This mission and vision statement also reflect the American Red Cross’s commitment to compassion and helping others in times of crisis.

Example 11: Warby Parker

Warby Parker’s mission statement is “To offer designer eyewear at a revolutionary price while leading the way for socially conscious businesses.” This statement reflects the company’s commitment to affordability and social responsibility and inspires customers to support businesses that prioritize making a positive impact.

Example 12: The Nature Conservancy

The Nature Conservancy’s mission statement is “To conserve the lands and waters on which all life depends.” This statement reflects the organization’s commitment to protecting the natural world and promoting biodiversity and highlights the importance of environmental conservation in creating a sustainable future.

Example 13: TED

TED’s mission statement is “To spread ideas.” This simple statement reflects TED’s core purpose: to share important and innovative ideas with the world. It inspires speakers and audience members to engage in meaningful discussions and pursue personal growth.

Example 14: St. Jude Children’s Research Hospital

St. Jude Children’s Research Hospital’s mission statement is “Finding cures. Saving children.” This powerful statement succinctly communicates St. Jude’s commitment to advancing medical research and saving the lives of children suffering from life-threatening illnesses.

Conclusion

These 14 mission statement examples demonstrate the power of a well-crafted mission statement. Each mission statement example is concise, relevant, and inspiring, communicating the company’s purpose and values.

A strong mission statement can help guide the company’s direction, communicate its purpose to stakeholders, and inspire and motivate employees to work towards achieving its goals.

When crafting your mission statement, remember to keep it concise, clear, relevant, and inspiring to your target audience.

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Walk The Dog – A Lesson For A Rich Life – Waking Giants

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The Lone Leader Weekly

4th Jan 2023

The Universe Doesn’t Give A Shit

About New Year’s Eve.

#1. We all need a purpose.

Yes, you need to understand why change is important, but the value is in the action, not the why.

#2. Act small, think big.

The unpleasant truth behind a life that is as it is supposed to be is that the process is mundane, daily, small, and underwhelming.

#3. Hold two states of mind.

Lose with grace. Win with humility.

Forgive me if you are not a dog owner. I assure you this is for you too.

Before Christmas 2022, I decided to make some changes to my life, and I wanted them to be simpler, AND not wait until New Year’s eve.

We live on a lifestyle block, about 4 acres, with three golden retrievers, and with all that space, we have never gotten into the habit of not walking them. We are here most days; they run, play, and generally live full lives.

But, I wondered if that was all it was cracked up to.

Being in a rural community, we need paths and safe areas to take the dogs, but we have a long gravel road leading to our house. Enough for eight furry legs, ten if you include mine.

(Our third critter George is disabled, so he can’t walk that far. He finds joy in pine cones, muddy puddles and chewing… anything).

I had thought for a couple of years that I should get out and make an effort, not because they needed more exercise, but a change of scene for them and me.

In this simple act, we dismiss the obvious and the simple; we claim not to have the time or the energy. But we have time for scrolling, Netflix and that extra wine. (Energy vampires, they are everywhere).

The short route is 1.5km, and the longer is 3.6km – 20mins or 40mins of movement. Very mundane, very simple. But when I break down the act of walking my dogs, the benefits outweigh the perceived effort.

  1. Healthy dogs live longer and fewer vets bills.
  2. Healthier me, I live longer and have fewer doctor visits.
  3. For better behaviour, I have used reward systems for the dogs to help them manage new environments.
  4. The weather – good, bad and everything in between is humbling.
  5. There are 24 hours a day – not having 20mins is an excuse, nothing more.
  6. After ten days, I realised I had formed a good habit.
  7. After ten days, the dog’s behaviour improved.
  8. I have embraced my exercise more, some days moving proactively 2-3 times – running, riding, kettlebells, and family walks.
  9. Time to think. Time to breathe. Time to myself.
  10. Being a role model. Showing my family what discipline is. Encouraging a way of living.

These ten lessons come from the simple act of ‘walking the dog’ – it shows you that the glorious relationship between intention and action creates disproportionate outcomes, often for minimal effort.

In a twist to the story, we have recently decided to move back to the suburbs for our daughter’s next phase of school, where we won’t have space and won’t be able to be complacent about their activity.

We will HAVE to walk them at least once per day. There will be paths and beaches, space to roam safely.

The universe has a funny way of preparing you for what is ahead. Your only requirement is to start today to define your future.

So when you get a chance to ‘walk the dog’ – grab some treats, a jacket and the lead and walk out of the door.

Sweat the small stuff, but only if it’s important.

Until the next time, walk the dog.

G

What next?

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10 Essential Leadership Qualities for Success – Waking Giants

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Leadership plays a critical role in our personal and professional lives.

Whether leading a team, managing a project or running a business, success largely depends on having effective leadership qualities. But what are the essential qualities that make a great and effective leader? In this article, we will explore 10 essential leadership qualities for success.

The Importance of Leadership Qualities

Leadership qualities have become increasingly important in the 21st century due to the fast-paced and constantly evolving world we live in. Leaders in today’s world must be adaptable, innovative, and forward-thinking.

They must have good leadership qualities to inspire confidence, foster collaboration, and build a positive company culture that attracts and retains top talent. Without practical leadership qualities; businesses risk stagnation and disengagement from employees, customers and other stakeholders.

Leadership qualities are important for businesses, communities, and governments. Effective leaders can guide their communities through difficult times, inspire change and create a sense of unity. They can also promote social justice, equality and human rights, essential for a healthy and thriving society.

Why Leadership Matters in Today’s World

Effective leadership is more than just making good decisions or managing resources. Leadership sets the tone for the entire organization, creating a vision and setting goals that drive success.

Leaders with strong communication skills, emotional intelligence, and strategic thinking abilities can inspire others and develop a culture of growth, leadership development and excellence.

In today’s world, where change is happening at an unprecedented pace across various industries, effective leadership is essential in managing change and leading organizations through it.

Leadership also plays a crucial role in promoting innovation and creativity. Leaders who encourage experimentation, risk-taking and learning from failures can drive innovation and help their organizations stay ahead of the curve.

They can also create a culture of continuous improvement, where employees are encouraged to learn and grow, and new ideas are welcomed and valued.

The Connection Between Leadership and Success

Leadership and success go hand in hand. Effective leaders can motivate others to achieve great things, which ultimately drives success for their organization’s goals. By leading with vision and empathy, good leaders can bring together diverse groups of people to work towards common goals. They can identify opportunities, address challenges and develop practical solutions to complex problems.

Effective leadership is also essential in building trust and credibility with stakeholders. Leaders who are transparent, ethical and accountable can earn the trust and respect of their employees, customers and investors. This can lead to increased loyalty, improved performance and better outcomes for the organization.

In conclusion, key leadership qualities are essential for success today. Effective leaders can inspire others, promote innovation and creativity, manage change and build trust and credibility with stakeholders.

By developing and nurturing strong leadership qualities, individuals and organizations can thrive in the fast-paced and constantly evolving world, we live in.

1. Effective Communication

Effective communication is an essential skill for any successful leader. It involves not only good communication skills, not only being able to express your thoughts and ideas clearly, but also being able to listen to others actively.

As a leader, it is essential to take an interest in what your employees, customers, and partners have to say. By doing so, you can build strong relationships and create a culture of trust.

The Art of Active Listening

Active listening is a crucial component of effective communication. It involves paying attention to verbal and non-verbal cues, clarifying understanding, and asking questions.

When you actively listen to others, you show them that you value their input and perspective. This can help avoid misunderstandings, resolve conflicts, and make better decisions tailored to your stakeholders’ needs.

Active listening requires concentration and focus. It means giving your full attention to the person speaking and avoiding distractions. It also involves showing empathy and understanding, even if you disagree with what the person is saying. Doing so can create a positive and supportive environment that encourages open and honest communication.

Mastering Verbal and Non-Verbal Communication

In addition to active listening, influential leaders must also be able to communicate their ideas effectively. This involves mastering both verbal and non-verbal communication.

Verbal communication includes using clear and concise language, appropriate tone of voice, and body language. When speaking, it is essential to use language that is easy to understand and avoid technical jargon or complex terminology.

Your tone of voice can also significantly impact how your message is received. By using an appropriate tone, you can convey confidence, authority, and empathy.

Non-verbal communication is just as important as verbal communication. This includes facial expressions, gestures, and posture. Your body language can convey a lot of information about your thoughts and feelings, even if you are not speaking.

For example, crossing your arms can indicate defensiveness or disinterest, while maintaining eye contact can show engagement and interest.

Overall, effective communication is a critical skill for any good leader. By actively listening to others and mastering verbal and non-verbal communication, you can build strong relationships, resolve conflicts, and make better decisions that benefit everyone involved.

2. Emotional Intelligence

Understanding and Managing Emotions

Emotional intelligence is a critical skill for leaders in any industry. It involves being able to understand and manage your own emotions, as well as those of others. Emotionally intelligent leaders are better equipped to foster positive relationships, resolve conflicts, and motivate others.

Practising emotional intelligence involves several key components, including self-awareness, self-regulation, motivation, empathy, and social skills. Self-awareness means recognising and understanding your emotions and how they impact your behaviour and decision-making.

Self-regulation involves controlling your emotions and responding appropriately in different situations. Motivation involves using your emotions to drive you towards your goals.

Empathy is another critical component of emotional intelligence. This involves being able to understand and share the feelings of others. Empathetic leaders can better connect with their employees, customers, and other stakeholders. They can build strong relationships based on mutual trust and respect.

By practising emotional intelligence, leaders can create a positive work environment where everyone feels valued and supported. This, in turn, can lead to increased engagement, productivity, and loyalty. Emotional intelligence in leadership positions is a skill that can be developed over time with practice and self-reflection.

Empathy and Building Strong Relationships

Empathy is a critical component of emotional intelligence and is essential for building strong relationships. When leaders are empathetic, they can connect with their employees on a deeper level and understand their needs and concerns. This can help to create a positive work environment where everyone feels valued and supported.

Building strong relationships is essential for any leader who wants to be successful. Strong relationships are built on trust, respect, and open communication. When leaders can connect with their employees on a personal level, they can better understand their strengths and weaknesses and help them grow and develop.

Empathy is also essential for building strong relationships with customers and other stakeholders. When leaders can understand and share their customers’ feelings, they can better meet their needs and provide excellent customer service. This can lead to increased customer loyalty and positive word-of-mouth marketing.

In conclusion, emotional intelligence is a critical skill for leaders in any industry. By practising self-awareness, self-regulation, motivation, empathy, problem-solving skills and social skills, leaders can create a positive work environment where everyone feels valued and supported.

Empathy is a key component of emotional intelligence and is essential for building strong relationships with employees, customers, and other stakeholders.

3. Adaptability

Embracing Change and Uncertainty

Adaptability is a crucial trait for leaders in today’s fast-paced world. With change happening at an unprecedented pace, adaptable leaders are better equipped to navigate uncertainty and drive success. They are true leaders who can adjust to new situations, identify new opportunities, address challenges and develop effective solutions to complex problems.

Adaptability requires the characteristics of a good mindset open to change and uncertainty. Leaders with this mindset are more likely to embrace new ideas and perspectives and are willing to take calculated risks.

They are not afraid to step outside their comfort zone and try new things. This flexibility allows them to pivot quickly when faced with unexpected challenges or opportunities.

Encouraging Innovation and Creativity

Adaptability also involves encouraging innovation and creativity. Leaders who foster a culture of innovation are more likely to come up with new ideas, products and services that can give them a competitive advantage.

They encourage their employees to take risks and think outside the box. By doing so, they create a work environment where creativity thrives, and employees feel empowered to contribute their best ideas.

Leaders who encourage innovation and creativity also provide their teams with the necessary resources and support to bring their ideas to life. They create a safe space where employees can experiment and test new ideas without fear of failure. This positive attitude not only leads to more innovative solutions but also boosts employee morale and engagement.

Furthermore, good leaders who embrace adaptability and innovation are more likely to stay ahead of the curve and anticipate future trends. By being open to new ideas and technologies, strong leaders show they can position their organizations for success in the long run.

4. Vision and Strategic Thinking

Having a clear vision and being able to think strategically are essential qualities for any successful leader. These qualities allow great leaders to set clear goals and objectives, plan for long-term success, and effectively communicate their vision to their employees, customers, and other stakeholders.

Setting Clear Goals and Objectives

Visionary leaders have a clear sense of where they want to go and what they want to achieve. They understand that setting clear goals and objectives is essential to achieving their vision.

By setting clear goals and objectives, leaders give their employees a clear sense of direction and purpose. This helps keep everyone focused and aligned with the organisation’s overall vision.

Clear goals and objectives also help to measure progress and achieve success together. Leaders who set clear goals can track their progress and adjust as needed. This allows them to stay on track and achieve their desired outcomes.

Planning for Long-Term Success

Strategic thinking involves planning for long-term success. Strategic leaders can anticipate future trends and plan accordingly. They can identify potential threats and opportunities and develop effective strategies to address them.

Planning for long-term success involves being proactive rather than reactive. It requires a strong understanding of the industry, market, and competition. Strategic leaders are constantly analyzing the market and looking for ways to stay ahead of the competition.

Effective planning also involves taking calculated risks. Strategic leaders understand that taking risks is essential to achieving long-term success. They can weigh the potential risks and rewards of a particular decision and make informed decisions that will benefit the organization in the long run.

Communicating the Vision

Finally, visionary and strategic leaders can effectively communicate their vision to their team members, employees, customers, and other stakeholders. They understand that communication is essential to achieving their goals and objectives.

Effective communication involves more than just talking. It involves actively listening to feedback and making adjustments as needed. Leaders who are effective communicators can build trust and inspire their employees to work towards a common goal.

In conclusion, having a clear vision and being able to think strategically are essential qualities for any successful leader. By setting clear goals and objectives, planning for long-term success, and effectively communicating their vision, successful leaders can inspire their employees and achieve their desired outcomes.

Conclusion

Effective leadership is essential for success in today’s world. By possessing the essential five leadership skills and qualities discussed in this article, leaders are better equipped to communicate effectively, build strong relationships, drive innovation, embrace change and plan for the future.

By doing so, they can inspire their employees, customers and other stakeholders to achieve great things, leading to long-term success and growth.

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Waking Giants is creating a world of conscious leaders – people who get up every morning knowing WHY they do what they do and EXECUTE relentlessly.

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