Business Partner Magazine - Issue 47 by Business Partner Magazine

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TABLE OF CONTENTS Hosting Your First Webinar: Learn the What, Why, And How

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Sandra Hinshelwood EDITOR

Business Partner Magazine is issued bi-monthly by Sandra Hinshelwood of Effective Website Marketing

5 Benefits of Building a Minimum Viable Product (MVP) for a Startup

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Why are Millennials So Reluctant to Pick Up the Phone?

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How To Keep Your Online Business Transactions Secure

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What Is Spend Management and How to Optimize This at Your Startup

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Reduce Business Energy: Use 7 Great Ways Aljon Sampaga LAYOUT/DESIGN

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Why You Need The Singularity of Focus

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MESSAGE FROM THE EDITOR Welcome to Issue 47. I hope you are enjoying the summer and some of the newfound freedoms as lockdown restrictions continue to lift. We have an information-packed edition kicking off with information to help you with your first webinar. We have all seen how online meetings have grown in popularity. The same applies to webinars and online training. With a market expected to reach 800 million dollars by the end of 2023, webinars are a great way to build business growth and credibility. The best thing, however, is that it doesn’t require a lot of effort or funds. Give it a try. As businesses further explore the online world, it is tempting to think about an app or custom software. However, this is not something to enter into lightly as it can be costly. Therefore, the starting point is to consider a minimum viable product (MVP). An MVP is a primary version of a solution that addresses at least one potential user’s pain point. In Dmitry Chekalin’s article on page seven, you can discover five advantages of building an MVP for a startup. There are many more articles to explore in this edition to help you keep an eye on your finances and connect with your target market. So enjoy your voyage of learning and discovering. Until next time, Sandra

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Hosting Your First Webinar:

Learn the What, Why, And How

id you know that the webinar market is expected to reach 800 million dollars by the end of 2023? With the ever-growing use of the internet and digitalization across the globe, businesses are no longer restricting their promotional efforts to the local level. They are using different ways to reach out to more people and generate leads.

about the benefits of hosting a webinar; that’s why you are here. However, you might not know where to begin.

Having said that, statistics show that, on average B2B marketers generate 500 to 1000 leads in a single webinar. Furthermore, 58% of marketers use this promotional strategy. Perhaps, you might have an idea

What is a webinar?

Fortunately, you are at the right place. This article will help you host a successful webinar without any hindrance. Let’s begin with the basics!

First of all, it is essential that you understand the meaning of webinar. It’s like a business

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seminar but hosted over the internet. It is live, and you can also record the whole webinar and later use it for promotional purposes. Generally, it is focused on providing information on any trending topic or connecting with the customers. Besides that, it can also be used for promoting new products or services. Furthermore, just like seminars, you can invite industry experts to share their valuable knowledge.

Why host a webinar? For the success of a business, you must interact with the target audience. A webinar is a great way to do that. Here you can provide information, listen to the customer’s inquiries/feedback, and learn more about the market. In addition to this, as compared to in-person events, it is a lot more affordable. You need not search for a venue, its decoration, or make catering arrangements. It is because every person will be attending the event from the comfort of their home. Moreover, you can use webinars to expand the horizons of your target audience. As it is hosted over the internet, anybody who is interested in the subject matter can join and gain knowledge from it. That means

it is an easy way to earn the trust of your audience. Now that you know what webinar is and why you must avail its benefits, let’s learn how to host one.

Webinar Hosting Checklist: Before webinar: ● Decide the objective:

First things first, you need to decide the purpose of the webinar. What is it that you want to achieve with this webinar? For instance, Do you want to provide new information to the audience? Do you want to discuss the trending topic to answer the audience query? Or, do you want to promote your new product?

● Decide the platform:

After finalizing your webinar’s objective, you need to select the platform to use. There are several online platforms such as Google Hangout, WebEx, Zoom, or Skype. You can select the one that suits your needs. Nonetheless, you need to ensure that the platform selected can be used easily on the computer as well as on the smartphone.

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● Select the date and duration: Just like the usual corporate

events, you need to decide the date and time. While selecting the date, avoid using weekends as most people are busy spending time with their families and friends. Thus they won’t be able to attend the webinar.

Also, select the duration. Generally, a webinar lasts from 39 to 60 minutes. However, the duration can change depending on the objective. Even so, try not to make it a lot longer as it might bore the audience at some point, which you surely don’t want.

● Identify your audience and invite them: Another thing that

you need to do is to identify your target audience. Do you want customers to be part of the webinar? Or do you want the industry experts and your competitors to be the primary audience? It is essential that you know who your audience is before you begin other preparations. After finalizing the audience, create a guest list. Just like in-person events, it is essential that you invite your guests properly. If you have a good budget and want to make a good impression, you can use nice postcards with all the details written over them and send them to the guests. Or, you can simply mail all the information to the respective guests.

Nonetheless, make sure that information written is correct.

the

● Create your presentation and practice: After sending the invites,

you need to prepare the presentation. Keep the presentation to the minimal content and focus mainly on the skills of presenting. However, make sure that the presentation covers all the key pointers about your topic. After the presentation draft is created, revise it for any mistakes and practice it.

On the day of the webinar: ● Check the tools:

Before you start the event, make sure that all the tools are working properly. The tools will include your webcam and microphone. Also, keep a spare microphone in case the one you are using stops working. Not to forget, check your internet connection.

● Start with introducing yourself: Do not start with your topic

instantly; ensure every guest has joined. Also, start the webinar by introducing yourself, your company, and the objective

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of the event. After that, you can continue with the main topic.

● Let your audience speak:

After you are done with the presentation, ask for the questions from the audience. It will help in creating more interactive webinars and help deliver more information. Moreover, if your target audience includes your customers, ask for their feedback and answer all their queries. It’ll help in evaluating the success of your webinar.

● Record and reuse: Last but not

least, you must record the webinar and use it for promotions on social media. It will help in gathering more audiences for the next event. Besides that, it’ll help in building more trust in the market.

The Bottom Line A webinar is a great way to help your business grow and build credibility. Moreover, it is cost-effective and doesn’t require a lot of effort. So, you must give it a try!

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5 Benefits of Building a Minimum

Viable Product (MVP) for a Startup

hen it comes to custom software development, a minimum viable product has become a popular concept these days. The MVP software development proved beneficial for entrepreneurs who want to test their business idea without investing too much money. The success stories of Uber or Zappos only proves this fact. Before we proceed to the key advantages of an MVP, let’s start with the definition of the term in question.

What is a Minimum Viable Product? According to Wikipedia, an MVP can be seen as a product that has enough features to meet the demands of early adopters. It is launched to get the feedback required for further improvement. This concept originates from Lean Startup. This methodology stresses the importance of learning when building a new software solution.

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Eric Rise, an entrepreneur and author of the Lean Startup methodology offers another definition of the term MVP. He sees it as a version of a new product that helps get the maximum amount of validated learning about users with minimal effort. Validated learning here is customers’ feedback as for the solution you offer and their decision to purchase it or not. Minimum Viable Product is a primary version of a solution that addresses at least one potential user’s pain point. With an MVP, you can quickly test the waters. When you come up with the idea of a product or service, you cannot know for sure whether it’s worth any investment. And here’s when an MVP saves the day. With this approach, you avoid wasting time and money on sophisticated features. Instead, you create a basic product, which can further be enhanced. It is worth noting that the term product here serves as a general part of the definition. It can be applied to an enterprise or an approach to testing a business hypothesis.

We have clarified the meaning of the MVP term. Now let’s discuss how this concept can help you create a successful fullfeatured project.

5 ADVANTAGES of building an MVP for a startup 1. Cost reduction and risk minimization Setting about building a custom software solution, you should bear in mind that it will take a lot of money, time, and effort to launch a large-scale web product. Besides, the whole venture may turn out a complete disaster if your business idea does not work. In this regard, a Minimum Viable Product will help you save costs and lower risks that come with custom software development. When it comes to the MVP, you will need to implement only the very basic functionality. Consequently, the development team will need less time to complete the project. As a result, their services will become more affordable. It is not surprising that many software companies such as Instagram, Facebook, Snapchat, Airbnb, and Spotify started as MVPs.

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When they saw the demand for their services, these brands gradually expanded their offerings by adding new features. This way, they avoided common mistakes a lot of startups make in their early days. For example, businesses refused to spend too much time and money on building extensive functionality.

2. Clear focus and flexibility The MVP approach helps you focus on your unique value proposition. It becomes easier for you to identify the exact pain point you are going to address with your product or service. Consequently, you will choose the right functionality to be implemented in the first place. Another benefit of an MVP lies in the ability to create a clear interface. You start with the simple functionality users cannot do without. This way, you make sure that your software product is intuitive and easy to use. In addition, a minimum viable product allows you to test each feature separately without the need to keep an eye on the whole project. Speaking about the MVP approach, we cannot but mention the flexibility regarding updates and new functions. They depend solely on your customer’s needs and wants. Besides, since you introduce new functions over some time, there will always be new technologies and tools. You can benefit from using them by making your product competitive.

3. Establishing connection with potential customers The time has come to discuss the main aim of building an MVP, which is getting feedback from the first users. They express their honest, unbiased opinion regarding your product. Based on their reaction, you will know what features you will need to add, remove, or modify. This way, they will help you build a 100% customer-oriented solution that meets the specific needs of your target audience. Besides, if pioneer users like your solution, they will spread the word about it and create a strong community. Thus, you increase your chances to expand customer base from its early inception.

4. Gaining financial aid You should have a feasible business idea if you expect to get the required funding. In other words, you need to convince the investors that there is a demand for your product or service. In this case, they will be more eager to give you money for further product development. The MVP approach allows you to launch a solution quickly and prepare for customers’ feedback. If it is favored, you can demonstrate your MVP to investors with ease, convinced of the relevance of your offering.

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5. Quick launch It has been said earlier that you can build an MVP within a short time-frame. All it takes is to choose the primary functionality that will address a specific issue and put it on the market.

Finally, it allows launching the product quickly and receiving feedback from early adopters.

About the Author

Why is fast launch so important? First, you will be able to scale your business properly. Besides, you get the opportunity to try out your marketing strategies and sales channels. Also, a minimum viable product helps you avoid procrastination with the release dates. Constant postponement can have a negative impact on your business. For example, one could start building sophisticated and completely unnecessary functionality. Alternatively, you may spend much time and money on fixing numerous bugs. Besides, there are chances that some company will launch a similar application before you do.

Dmitry Chekalin CEO @ Codica. Software Entrepreneur with 15+ years of experience. Focused on the lean startup approach. I write about startups, marketplaces and SaaS products, and custom software development.

Final thoughts We can say for sure that the MVP development proved beneficial for businesses both in the long and short term. It allows you to identify your unique value proposition and reduce the cost of custom software development. Also, with its help, you can reduce risks and get the required funding.

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Why are MILLENNIALS So Reluctant to Pick Up the Phone?

illennials and their successors, the Gen Zers, were raised or born surrounded by the internet, smart devices, and instant communication. With nearly all the world’s knowledge at their fingertips, it is no wonder younger generations are running thin on patience. So, spending time on a phone call or waiting on hold takes (a lot) of patience. But a shortage of patience is not the only reason Millennials are so phone call averse.

Understanding Millennials’ Phone Call Aversion

they just don’t feel like picking up the phone. Phone calls cause Millennials needless stress and for a handful of reasons.

Phone Calls Take too Much Time Millennials have more important things to do than engaging with you in small talk before getting to the bottom of

Millennials, or the people born between 1981 and 1996, now account for nearly 50% of the workforce. This number is estimated to jump to 75% by 2030. So, understanding their way of thinking and consumer habits is key to a business to stay afloat in the years to come. Millennials and Gen Zers, for some reason, sense an existential dread to make or receive phone calls. They are even reluctant to answer the phone from unknown callers. Sometimes they may even put their family and friends on hold because

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They like fast, straightforward communication with almost instant results. This situation is mainly due to their addiction to instant gratification and/or constantly running late for everything because of being such master procrastinators. Also, social media or an IM app allows them to send a quick message and get a quick response in return. Even e-mailing is preferable to taking phone calls in a Millennial’s mind due to its brevity. Also, these digital channels of communication don’t require the Millennial’s full attention, so they can do other things in between.

Phone Calls are Rude

Millennials are very keen on privacy and personal space, and they perceive an outof-the-blue phone call as an invasion of both their privacy and said space. So, calling them without first texting or sending an e-mail can quickly frustrate them since you might disrupt their schedule and thus be perceived as intrusive and inconsiderate. Unlike their parents the ‘baby boomers,’ Millennials don’t embrace the always reachable mentality.

Phone Calls Give Millennials Anxiety There’s a reason Millennials get cold feet when having to make or take a phone call: Talking to people on the phone triggers their anxiety. This anxiety is different from social anxiety since many Millennials have a wide circle of friends and are comfortable in most social situations. Their phone call anxiety is spurred by uncertainty. When talking on the phone, you don’t know what the other person is thinking because you don’t have access to their non-verbal cues, aka body language. So, Millennials’ innate fear of being rejected because of what they say or think kicks in. Also, because the Millennial doesn’t have access to the other person’s body language, which accounts for 70 to 93 percent of human-to-human communication, he orshe has to deal

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with the fear of being judged. Written communication has a big advantage when it comes to mitigating the negative things other people might think about you: It gives you plenty of time to compose a message, edit out the mistakes, and reread everything before hitting send. On the phone, you don’t have the luxury of gathering your thoughts and correcting yourself, so you run a fairly big risk of saying something inappropriate that might get you judged or rejected. This makes an anxietyprone Millennial even more anxious.

Businesses Need to Adapt to Their Younger Customers Millennials abhor classic telephone communication. They also want quick replies to their queries, and they’d love you big time if you reached out through digital channels that are similar to their favorite form of communication: texting apps. E-mails are good, too, as 80% of marketers can confirm that e-mail engagement has increased over the last year, and so is social media (but don’t overdo it with social media since Millennials still love their personal space.) There’s a reason why so many online businesses have recently switched to digital customer service. More and more websites feature friendly live chatbots ready to

address all your queries and concerns 24/7, unlike a human agent that would be available only during working hours. This type of technology is on the liking of both Millennials and Gen Zers, who are the current and future consumers. What is more, AI-powered chatbots like the increasingly popular Hoory have gone mainstream, which means that small- and medium-sized companies have access to them as well. AI chatbots shine bright because they can mimic the communication skills of a live person. And if there is something missing from their knowledge base, they can be easily trained to fill in the gaps even by non-IT people. But without these digital channels, you risk leaving your anxiety-prone and personal space-loving Millennial base uncovered. And with a 48-hour response wait time to their queries, they’ll have plenty of room to Google and contact your closest competitor.

Millennials Can Be Engaged Despite the proverbial hardship of engaging and keeping a Millennial engaged, more and more success stories show that it can be done. For instance, Switzerland’s largest insurer AXA now manages to handle more than 4,000 private messages every month with just four employees

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and an army of live chatbots, e-mails, and social media tools. Sephora has seen an 11% increase in online reservations after adopting a Messenger assistant that automatically allows customers to choose the closest location to their home for a makeover. Thanks to the chatbot, appointments can be made in a few minutes, and in-store sales have been driven up as well.

And last but not least, American fashion giant Tommy Hilfiger reported that its clients spent 3.5 times more than usual immediately after the adoption of an AI chatbot that enabled them to buy the Tommy x Gigi [Hadid] collection fresh from the runway during fashion week.

Get started now.

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How To Keep Your Online Business Transactions

SECURE A

s a business owner, it’s your duty to ensure that all your online business transactions remain secure. In today’s digital world wherein almost everything can be done in a single tap of a finger, there’s also the associated risk of falling victim to fraudulent activities, such as identity theft and data breaches. Security threats are so prevalent and it’s critical to take the necessary precautions so you can keep your customers’ trust and confidence in your brand. Improving online security isn’t only for your own interests, but also your customers’.

Choosing A Secure E-Commerce Platform An e-commerce platform enables your business to commercially sell your products or services over the Internet.

This means that the software is responsible for the facilitation and transfer of information and funds over the Internet. That being said, you must carefully choose your e-commerce platform not only based on functionality, convenience, or design, but, more importantly, based on the layers of security that it can provide. Vulnerable platforms are more susceptible to security risks, such as an account takeover wherein a malicious attacker or a third-party hacker might gain access to a platform’s credentials and information. Such incidents could also highly compromise the security of your customers, that’s why you need to make sure that your platform is secure enough to protect your business.

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paying via credit cards because they don’t need to immediately pay for the item using their own bank account or money. Instead, the credit card company would initially fund the purchase for the customers. Additionally, credit card companies don’t hold their customers liable for unauthorized transactions or purchases. Other secure online payments to consider for your online business are:

● Debit cards:

What About Online Payments? Another key component of online business transactions that you need to secure is how the payments are sent or completed by your customers. Since you’re offering digital transactions, you should be prepared to receive and process payments that are sent over the Internet. Find out which online payments are secure and, at the same time, widely used by consumers online. Credit cards are among the most secure and widely used payment options when transacting online. Most customers prefer

Paying via debit cards is also secure because debit card companies follow regulations almost similar to what credit card companies adhere to. Also, when a debit card is used from an unrecognizable IP address, it would trigger the customer to verify their identity; else, the transaction won’t push through.

● Wire transfers:

Wire transfers are also secure, as long as both your bank and the customers’ banks are reputable institutions.

● Mobile

Wallets:

Another secure payment option that you can offer to your customers is a digital or mobile wallet. Users would most likely authorize payment through a PIN or their fingerprints to verify their identity. Examples of mobile wallets include Google Pay, Amazon Pay, and Paypal.

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Updating Your Web Applications Getting a secure e-commerce platform won’t be enough if you want to continuously ensure the security of your online business transactions. You also need to conduct constant updates and changes on your web applications. Doing this will help you identify as early as possible whenever there are vulnerabilities, loopholes, and malware that are already threatening your online business. These loopholes and vulnerabilities might make your customers’ information at risk of breaches and infringement. Keep in mind that hackers are always on the lookout for the slightest flaws in websites and online platforms that they can easily exploit. To avoid this, you can consider signing up on an automatic system update so that your online transactions remain protected in case you forget to download or update the latest safeguard.

Enhancing Security With Data Encryption

only certain people with authority over the decryption key (the secret key) can access the data. Furthermore, encryption protects the passwords from potential hackers who might infiltrate your system.

Security Builds Confidence Securing your online business transactions is very critical when it comes to building the confidence of your customers. More than anything, you need to establish how your business is prioritizing the security of its customers so that they won’t hesitate to do repeat purchases from your store. Start with a secure e-commerce platform to avoid loopholes and vulnerabilities. Then, make sure to apply online payments that aren’t only flexible, but also reliable when it comes to providing extra layers of security. Always update your web applications, and, lastly, consider encrypting your data to protect information from hackers and malicious third-party attackers.

Data encryption works by strengthening the defense mechanism of your platform, while also protecting sensitive data both of your business and customers. In simpler words, encrypting would translate the data into another code or form so that

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What Is Spend Management and How to Optimize This at Your Startup

i nance is a significant aspect of running a startup that every business owner must pay attention to in order to properly conducts their affairs. Finances doesn’t just mean how much money the business spends but also what comes into the business. Spend management is a broad concept that you must understand, as it is a fundamental component of any business.

Spend Management Defined Spend management refers to all the steps that are involved in collating and maintaining spend data. It also includes categorizing and evaluating spend data on improving financial efficiency in the work environment. Spend management covers every activity around the procurement cycle like business budgeting, planning, inventory analysis,

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supplier management, development.

and

product

How to Optimize Spend Management at Your Startup It is one thing to understand the different elements of spend management and another thing to know how to optimize it for your startup. The mode of optimizing spend management for startups differs based on the size of the business and the type of products and services available. However, by paying attention to the steps discussed here, you can effectively optimize spend management for your startup.

1. Define your expenditures

The first step to optimizing spend management for your startup is defining your expenditure channels clearly. This includes salaries, bills, and utilities, among others. While it may appear easy to identify what these expenditure channels are, it is challenging to define the extent to which they place a financial demand on the business. Until you can define the expenditure channels of your business, optimizing spend management might be complicated.

2. Create a system that collates all expenditure data

Expenditure management thrives on the availability of data relating to procurement costs. It is not enough to define your business expenditure channels; you also have to create a system that collates the expenditure data. Everything that will be done to optimize spend management in a startup, like reviewing and categorizing data, depends on the quality of the collation system created for expenditure data. While you can manually collate this data, different accounting software can be used to collect this data. With accounting software, you can get the collation done in minutes and more accurately.

3. Review data available to be sure they are correct

Whether you are collecting expenditure data manually or using any of the accounting software that exists, reviewing data is very vital. One error with data collection can affect every other step in the process. You have to carefully review data at your disposal to be sure they are correct and reflect the realities of your startup’s expenditure. At this stage, you should hire the services of an accounting expert. An expert will review the data from an experienced lens,

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making it possible to identify errors you may not if you do it yourself.

4. Group your startup’s spend data After creating a system that effectively collates spend data, and you are sure that the details have been correctly reviewed, the next step is to group the data. Spend data, especially when it is from a large business, can be difficult to analyze. To simplify the analysis process, you will need to group procurement data. There are several systems of grouping startup data that you can leverage. However, before settling for a grouping method, you must review all the methods at your disposal. In reviewing, consider the feasibility of the grouping system to your business type. Once again, to ensure you are on the right path regarding grouping spend data, working with a spend management expert might be the best option.

5. Make a comprehensive analysis of the spend data

With a grouping method selected and implemented for your startup, analyzing spend data becomes a lot easier. You can look into all the groups that have been created and carefully examine the data there. When you’re done analyzing every group,

you can then analyze the whole data. Remember that the keyword here is “comprehensive.” It is not enough to analyze data; efforts must be made. Your startup has to consider every factor within and outside the business when analyzing this data. Without a comprehensive analysis of spend data, developing a viable spend management strategy will be challenging.

6. Create a viable spend management strategy Once you get the previous step right and have provided a detailed analysis of spend data, the next step is to create a viable spend management strategy; that you have a strategy doesn’t always guarantee that it is the best for your business.

You have to carry out in-depth research to ensure the spend management strategy works perfectly for your startup. Then, don’t stop at creating the strategy alone; take the required steps needed to have the strategy executed. You will not know whether you’re optimizing spend management at your startup if you don’t execute the created strategy. The results of executing this strategy may not happen immediately, as such, you need to exercise patience when following through on the strategy.

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7. Review strategy

the

executed

Spend management is not a once and for all event for startups but something you will have to do every time. This is why you shouldn’t just stop at executing the strategy that you have created but also have a system of reviewing it. In reviewing the executed plan, the areas you should pay attention to include: ● The strength of the strategy ● The weakness of the strategy ● The results produced from the strategy With constant and honest reviews of your spend management strategy, you can improve it to optimize it better for your startup. To avoid any form of sentiments while reviewing your spend management, you can source external reviews.

Conclusion While spend management is essential for every startup, many business owners do not know how to go about it. If you’re one of those, the doubts you have about optimizing spend management for your startup must have been cleared with this article.

execute a spend management strategy that guarantees increased productivity for your business.

References

Simfoni: What is Spend Management? Why and How it is Implemented? Zycus: 7 Steps to Effective Spend Management The Economic Times: Definition of ‘Expenditure Budget’ The Classification Guru: What is spend data classification and why should I care? Planenergy: Spend Analysis 101: How, Why, and What To Do with the Data

AbstractOps If you’re an early stage CEO, we handle and automate your HR, finance, and legal ops — so that you don’t have to. We help you Be Scrappy, Not Sloppy. We understand that ops can be painful. If you have any questions or need assistance with your ops, drop us a note at hello@ abstractops.com. We’ll do our best to help.

Now, you can follow through on the steps discussed above to come up with and

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Reduce Business Energy Use:

7 Great Ways

hroughout the year, whether you are running a small, medium, or large business, you will incur several operating costs. Most of these will be fixed costs, but others you can adjust to a certain extent. While businesses have many different options for cutting expenditures, some of them will affect areas such as output and customer service. Getting more energy efficient is one of the best ways to cut costs.

One of the smartest ways to reduce your commercial energy bills is to compare business energy prices with Business

Energy UK. By using their free online comparison tool, you can compare quotes from leading suppliers within minutes. We will explore a range of ways your business can lower its energy usage and potentially save thousands of pounds every year in this guide.

PERFORM AN ENERGY AUDIT An energy audit can be a great way to learn how your company uses gas and electricity. Energy audits provide insight into how

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much power is being consumed in each department. Its objective is to pinpoint what measures you will need to take to achieve greater energy efficiency. Annually reviewing your progress and making any necessary changes will help you monitor your progress.

INVEST IN ENERGY EFFICIENT EQUIPMENT Look for equipment with a higher energy star rating when ordering new electrical equipment from your office supplier. This will indicate how energy efficient the equipment is.

POWER DOWN EQUIPMENT AND LIGHTS Before leaving the workplace, all employees should turn off any equipment and turn off the lights. Unless, of course, you need them to run for the basic operation of your business. Turn off everything that isn’t in use. When your employees have finished their shift, you could ask them to switch off their computers and monitors. Don’t forget your coffee machine and microwave. Even though this seems like an easy step, keep in mind that not turning off devices still consumes power. The equipment

equipment in some offices will come with standby features that can drastically reduce power consumption. The greater the size of your business, the more electricity you will be able to save, thanks to this strategy. Maintaining your air conditioner regularly can help you avoid dealing with the unseasonably hot and humid weather we have had lately. As AC systems can be very expensive to repair, it is best to keep them in good working order. You can count on Fujitsu Air Conditioning for a wide range of AC services, including repair, maintenance, and servicing. Fujitsu Aircon services are good for repairs, maintenance, and servicing of your AC system. You need to ensure that your air conditioning works when the weather warms up to ensure that your house is kept at an appropriate temperature. However, if the system goes down, you cannot just do nothing. Finding the right expert to help you out is crucial.

TAKE FULL ADVANTAGE OF NATURAL LIGHT You may want to open the blinds or curtains to let as much natural light in as possible before turning on the lights. In the office, natural daylight can make a huge difference. Apart from lowering your electricity bills, your workers will also

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appreciate the positive effects on their overall health and wellbeing. Also, you may want to find areas that have too many artificial lights and see if this can be reduced.

INVEST IN EFFICIENT LIGHTING Your business can reduce its electricity use by installing compact fluorescent lights (CFLs) and light-emitting diode (LED) bulbs. Make sure that you locate and replace all old or inefficient lights in your office through the audit done earlier. A typical office setting has lights on for at least nine hours every day. By switching to an energy-efficient solution, your business could save a significant amount of money on commercial electricity over a 12-month period. Modern lights will also last longer, so you will not have to replace them as often.

SENSORS FOR AUTOMATED LIGHTING By using motion sensors and dimmers, you can also save money on business electricity. It works by detecting when no one is in a room, hallway, or other area and dimming or turning off the lights automatically.

Consider installing smart technology in boardrooms and meeting rooms that are not constantly used to make use of it most effectively. The brightness level can also be adjusted automatically when a sensor measures how much light is in a room. In addition to light sensors, you can also install a smart thermostat that adjusts the temperature automatically.

SWITCH TO RENEWABLE ENERGY Business energy suppliers typically offer renewable energy tariffs that are competitive with traditional plans. Energy sourced from renewable sources, such as solar, wind, hydro, or tidal, is sometimes called green energy. Changing to a greener energy source can reduce your business’s carbon footprint and help with the fight against climate change. By following some or all these tips, you should be able to reduce your business electricity costs. Each of these strategies will enable you to become more energyefficient, save money, and take the necessary steps towards a more sustainable future.

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Why You Need The Singularity of Focus

here is a singularity of focus required to drive your business forward in these almost post-Covid times. It’s more than having a unique selling point, mission statement or collaborative vision. The singularity of focus has to do with the ability of your business to function from a position of adding infinite value to your industry. Infinite value ensures repeat business, increased market share and sustainable profits. Passion, qualified skillsets and professional consistency regarding your product or service lie at the heart of this concept. Darjeeling Express in Covent Garden, London under the guidance and culinary expertise of Asma Khan epitomises how a business can adapt; yet remain clear regarding its purpose. This unwavering clarity provides the drive behind the Second Daughter Fund, her cookbook, her appearance on Netflix’s Chef’s Table and the constant innovations through brand adaptability. The kitchen has alwaysbeen run by an all-woman team of housewives who bring authenticity, flair and homestyle cooking in an ambient

setting that is gracious and enjoyable. Massimo Bottura co-founded Food For Soul to address food waste while dedicating himself to the formation of community projects. This three Michelin star chef has over twenty years of experience running his restaurant, Osteria Francescana, which was voted best restaurant in the world in 2016. Two earthquakes hit the Emilia-Romagna region in Italy in 2012 with devastating force. It damaged historical buildings, destroyed homes and threatened the viability of their world-renowned cheese industry: Parmigiano-Reggiano. Bottura is credited with being the catalyst behind the global appreciation for the cheese in swanky restaurants now. In addition, he hosted a successful online feast via social media on October 27, 2012. This and subsequent

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your own path within your industry by understanding what you bring through your product or service.

subsequent actions have ensured that Parmigiano-Reggiano is more than a mere ingredient. Both Khan and Bottura demonstrate the ingredients required for the singularity of focus. You go against the tide of popular opinion and trust your experienced gut instinct. Build with the right team. Be consistent in your contribution to your industry. Adapt and overcome. Develop your skillsets whilst enjoying the uniqueness and abundant value you bring to your industry table. The day to day operating of your business will take its toll from time to time. Covid-19 will affect you and even tempt you to compromise beneath your core business standards. This is the time to re-create

This clarity lies at the root of the singularity of focus, whether in business, life, or personal development. Therefore, brands/ individuals such as Asma Khan of Darjeeling Express successfully navigate challenging times and even expand/excel under circumstances that drive other businesses to bankruptcy. All aspects of your life demand a singularity of focus at one point or another. People buy from people, so your business will reflect the energy, ingredients, strategies, flavour and culture that comes from the clear intention evidenced in how you and your team deliver your product or service.

About the Author

MALIK MUHAMMAD

Malik Muhammad was raised and educated in Jamaica and read law in London. He created The Empowerment Mastery System to influence, help and inspire businesses to cultivate their visions. Malik enjoys vegan cooking and quad biking. He is an after-dinner speaker, event host and convenes empowerment seminars internationally. His latest book COFFEE & CONTEMPLATION: a taste of empowerment is available on Amazon.

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