startup HOW TO HIRE & RETAIN THE BEST TALENT
APRIL 2013 002
Bahrain
THE STARTUP STORY OF
BLAZE BURGERS 360
Rotate the Burger
IN STRATEGIC PARTNERSHIP WITH TAMKEEN
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EDITORIAL
startupBahrain Magazine Project
Project Founder Ahmed AlSawafiri
Magazine Editor Sarah Amin
Production Mazin AlSawafiri Thank you, I would personally not have wished for a better start for the ‘startupBahrain’ tablet magazine. The amount of support and praise we have received is very encouraging. When we started, we knew there was a gap for a medium that covers local startups and entrepreneurs, but we did not know how pressing this need was until we saw your feedback. Two questions we have received a lot since we launched, “Why not an Arabic Magazine” and “Why no Android app?”. Well, we would surely love to launch both but given the limited resources, we had to start somewhere. We are now looking at all options to cover that, and if you think you could help in any way, please talk to us. In this issue, we are very proud to announce our strategic partnership with Tamkeen. It’s not unusual to see Tamkeen taking the lead in supporting local startups and entrepreneurs. We would also like to congratulate the Ministry of Social Development for launching the very ambitious homebased business concept “Khutwa” which we cover in the ‘startupFeatures’ section. Enjoy reading the magazine. Ahmed AlSawafiri startupBahrain Founder
Contributors Mohammed Isa Zain AlZayani Adel Maymoon Isa AlMoawdah Osman Safdar
Contact Us Mob : +973333 973330 admin@ startupbahrain.com http://twitter.com/ startupbahrain http://facebook.com/ startupbahrain
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CONTENTS
Tap on a topic to go to it
Features
Bahrain
‘Khutwa’ Bahrain’s Home Business Sofia AlAsfoor, an International Designer from Bahrain Tenmou, Bahrain’s Angel The startup story of Blaze Burgers Investment Company
Advice
Resources
Hire not fire Guerrilla Marketing Why ‘Social Media’ II
Book Reviews Gadgets Debrief APPS Debrief
Worldwide Pinkberry startup story Lessons from Fred Smith
startupFeatures
Home Based Businesses
Home Based Businesses showcasing their products - Swipe to change
‘Khutwa’ which means ‘Step’ in Arabic, is the name of the newly launched Home Based Business program in Bahrain offered by the Ministry of Social Development. The concept has emerged from the “Productive House” program offered by the ministry specially after observing significant demand from the younger generation. One of the attractive features of the program is the basic application requirements. To apply, you need to be a Bahraini who is 18 years/older, and it does not matter if you are an employee or not. At the moment, there are 20 activities, which you can run from home but we are positive that this list will grow to cater for the market demand specially with the increasing popularity of various home businesses on social media. Page 2/3
Is home business for you ? Starting a home based business is a great option especially if all you need is a small office or space to operate, and when the business does not require employees or can depend on direct family members to manage and operate. Home businesses usually attract people looking to be their own boss and who want to have flexible working hours. It’s also a perfect option for single parents, housewives, hobbyists or even employees who would like to earn extra income. Being the business owner, you set the rules, working hours and the pace of the business. A home business might be just your first step towards setting up a full fledged business. Companies like Amazon, Apple, Dell and many others started from home.
Pros and Cons of home businesses Running a home business could be exciting and rewarding. You will however need to carefully study the advantages and disadvantages to ensure you plan things right. Advantages: Flexible working hours Low setup and operating costs Independence, being your own boss Can start as a part-time business. Disadvantages: You are limited to a set number of activities Difficult to separate business from family matters Strong commitment required No outdoor signage You may not benefit from the private sector support schemes
Examples of Approved Home Business activities - Graphics & Advertising Design - Sewing Clothes - Making and selling of perfumes and soups - Design and making of gift boxes and wraps - Design of invitation cards and electronic promotions - Photography of events and conferences or have experience doing. 4. What do you enjoy doing the most? Rank your list of expertise by what you enjoy doing the most. 5. Now you have two lists, choose the first 3 of each list as potential home businesses you can start. Do some research on those ideas and choose the one with the highest potential.
How to choose the right home business idea ? Final note Follow these simple steps to choose the right home business for you. 1. What do you love? This is by far the most important question, create a list of all the things you love to do. 2. What is important to you? Now you will have to rank your list based on importance, so if you love designing the most, rank it as 1. 3. What are you good at? Create a list of all the things you are good at Page 3/3
Its important to note that the program is still at an early stage, and there would be a transition period to moving from the ‘Productive House’ concept to the ‘Home Based Business’. We must congratulate the Ministry of Social Development though on taking this ‘step’ which we think has huge potential and can directly contribute to the local economy.
startupFeatures
TENMOU
Bahrain’s Angel Investors
Tenmou is an enterprise dedicated to Bahraini entrepreneurs. An organization created by private Bahraini investors who are passionate about business and who are also successful entrepreneurs in their own right. startupBahrain interviewed Hasan Haider, CEO of Tenmou who shared with us how new startups can leverage Tenmou services to get started
Mr. Hasan, Can you take us through the journey of setting up Tenmou? The idea of Tenmou started after I personally struggled with my first business. Along the way, I was introduced to Mr. Sami Jalal who offered me great advice and helped in putting things back on track. Since then, we started thinking of ways to support Bahraini entrepreneurs in overcoming the common business challenges and help them succeed. We did a lot of research on different models and finally decided to setup Tenmou, Bahrain’s first angel investment company. What are Tenmou’s key drivers? Tenmou is looking to support high potential, innovative Bahraini entrepreneurs, as we believe this will have an immense contribution to Bahrain’s economy. How does the overall model for angel investing work? Angel investors tend to take the highest level of risk when investing in companies. An angel investor typically invests a minor stake in a business, provide advice and assistance to see that business succeed and grow in value. Eventually, when the business is more valuable, the investors make a return when they sell their share to another party. However, the majority of the new investments and businesses are expected to fail. Page 2/4
How can Tenmou Help 1
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Funding • Seed Money to start operation • On Average BD. 20,000 • Investment, not a loan • Tenmou 20-30% • Entrepreneur 70-80% • Entrepreneur pays by full time dedication How can an interested entrepreneur apply for Tenmou ? The application process is quite straightforward, starting with an online application form on our website at www.tenmou.me. Next is the prescreen interview, the Advisory Committee shortlisting and then the final selection by the Selection Committee. What qualities do you look for in entrepreneurs you decide to invest in? We look for high-potential people with a great deal of passion and belief in their project, but who are also willing to take advice on board to improve themselves. Other than the team behind the project, we look for unique ideas that don›t currently exist in Bahrain, but have the potential to grow outside Bahrain to the rest of the region.
Photos from Tenmou events. Swipe to change.
What’s the size of investment for each company? We invest on average BD20,000 per company. That is usually enough for projects to get started.
What type of companies do you look to invest in? We always look for unique ideas with a good potential for growth, in any sector.
Beside financial investment, what other services does Tenmou provide for its entrepreneurs? We provide a great deal of support. We have mentorship programs that allow the entrepreneurs to get specific advice from our partners in the foundations of business, including accounting, finance, marketing support and more. In addition, our investors kindly give their time to talk to the entrepreneurs about their own personal stories and any assistance they can provide to the startups. It is this advice, mentorship and networking that is actually worth more than the financial investment itself.
To what extent do you engage in the decision making for a company you invest in? The companies are run by the entrepreneurs themselves. We have a board representation and have input on the direction and planning of the company. We are always there to assist and support, but not to run the business. That is the entrepreneur›s responsibility.
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How do you evaluate the overall startup ecosystem in Bahrain? There is a great deal of support available in the startup ecosystem here; from training programs Tamkeen’s grants and more.
What are the key areas of development for Bahrain in this space? There needs to be a greater deal of support for the development of the equity funding ecosystem; from more angel investors, to Venture Capital, to a stock market that would enable some of these start-ups to eventually IPO. In addition, more focus needs to be given to the difference between SMEs and Startups, as SMEs start small and tend to stay small, whereas startups have more innovation and potential to grow.
What’s your advice to new startups and entrepreneurs? Just get started. An idea is worthless, without the right execution behind it. So if you have an idea and you really believe in it, start working on it and get it started. Also, be very careful with your cash flow; make sure you don’t spend unnecessarily. If you don’t know whether or not something is necessary, ask a mentor.
TENMOU’s Selection Process Online Application
Online application form Pre—screen interview
Pre-screen interview as applications are received Conducted by management to screen entrepreneurs and improve the quality of applications Advisory Committee Shortlist
Shortlist is drawn up after interviews by the Advisory Selection Committee
Shortlisted candidates have an opportunity to present to the Selection Committee Selection of final candidates for funding Page 4/4
Interview by Ahmed AlSawafiri
A A I F O S
R O
O F S
A L
Sofia Al Asfoor; a young Bahraini name emerging from a mixed culture of power and creativity. She is contemporary, highly expecting, challenging and daring. She is beyond passionate about leather, the craftsmanship of bags and everything in between. She is rooted to the Arabian world and continues to explore borders.
startupBahrain met with young Bah- What’s your educational backraini entrepreneur Sofia Al Asfoor for g r o u n d ? an exclusive one-on-one for all of you I attended a local school here in Bahyoung business brainiacs out there. rain until I set my way to university. Sofia, when did you realize you had From then on I have been lucky to experience and interact with cultures a passion for fashion? from around the globe in major fashEver since I was a child! I would spend ion capital cities, Milan, London and most of my free time painting or buy- New York. ing fabrics from the souq to make my own clothes and constantly cutting Introduce us to your designs. things up and putting them back together. I would always find so much Belonging to the Shield Collection, a joy in creating, till today, even though range of designs emerge from soft and I am up to my head at work, I’ll still sensuous skins; The Classic Shield and buy fabric and make my own things. The Exotic Shield, so luxurious they As for my passion in accessories, it’s empower the mind, heart and soul. like entering a whole other level. First felt at university when I started to get Where do you get your inspiration hands on with the tools and the draw- from? ing board. With that came a vision and a sensation of inner ambition that has Whilst working on my Final project during my year in London, I spent few not allowed anything to stop me.
From the SHIELD COLLECTION - Swipe for more Page 2/4
weeks walking around the streets of London with my camera taking photos of anything that caught my attention from water puddles to buildings. There was one window display that caught my eye that was a piece of art/architectural work; from there I went deeper into the exploration of textures, origami and anything that my mind perceived. From then on, I spent hours cutting and stitching all sorts of materials, teachers telling me to change my direction, I have lost count of how many times someone said to me ‘It’s not possible’, but I stuck with it until there it was, my first handbag. Is this your first working experience in the world of business or did you have a previous regular job? Growing up I was always expected to go into my father’s company, I would stand by his side most weekends during high school or I would be in trouble otherwise, and because of that I have seen and learnt so much, from architecture to perfumery and even watches, the list goes on. While I was at London College of Fashion, I did an internship with a Page 3/4
‘new’ designer at the time, JW Anderson, which today I am glad to see has been making his mark in the fashion scene. I have absolutely gained a lot of knowledge in a variety of domains that uniquely benefited me during my own time establishing my own products. Do you think being an entrepreneur with all risks involved is better than having a job with regular income? Yes, because you are building something for yourself where there is always more self satisfaction. Nothing good in this world comes easy, it’s all part of the excitement even with all the risk and worry, the smile of fulfilment it delivers is so much more personal and gratifying. What’s your target market and do you plan on expand? There is no limit to a customer. I design for the elegant & confident woman. A woman who appreciates quality, knows what she wants and how to make a statement. I focus on individuality, timeless elegance & luxury.
How did you fund your project and Who is your supporter and confihow did you successfully manage dence-booster since your beginthe financial aspect of your business nings? as a start up? I am fortunate to have had my father It was difficult but not impossible! I to support me growing up until I destarted off with deciding to go onto cided to take my own path, where I the UNIDO entrepreneurial program received tremendous support from to help guide me along the way. I friends and coverage from the local managed to get a loan that only cov- media. I would also like to truly thank ered up the huge expense for my de- Sheron Hujair, Ali Al Rifaii and Shooq AlShawi for being by my side. velopment and first production. With sales slowly increasing, I am able to move on and progress more and Being a young Bahraini Entreprewith time, venture into new dreams neur, what piece of advice would you like to share with our readers? that I am yet to achieve. Every success story starts with some struggles, so tell us what kind of obstacles and difficulties did you face and how did you overcome all of it?
Everything is possible, dreams do come true, there is no easy way, so buckle up, go with your gut instinct and be persistent.
Being a new designer brand within the contemporary luxury playground is a challenge as competition is high and the clientele is very demanding. This is a constant challenge that my hard work, designs, clients and fan base justify. As for life as a new designer, risk is a major part of the game. There are many examples within the International market to learn from but it has been a continuous roller coaster for me from every angle.
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Interview by Sarah Amin
The story behind Bahrain’s famous
BLAZE BURGERS
A purely Bahraini brand that has been the talk of the town; Blaze Burgers offer mouth-watering flavors and a unique dining experience. startupBahrain had a little chat with the brains behind the burgers, young entrepreneur Abdulla AlAbsi
is needed to enrich your knowledge in that field.
How did you finance the project? I used two main sources, my personal equity and a bank loan. I had provided Bahrain Development Bank with a feasibility study that was based on How long has Blaze Burger been facts, thorough analysis and strong arguments about the success of the open for? Blaze had opened on January the 30th project. in 2011 and we recently celebrated the Did you make use of any of the sup2nd anniversary. port programs available for entreWhere did the idea of Blaze Burgers preneurs? I got a partial funding in the means come from? I’ve always believed that one day I of loan through Bahrain Development was going to start my own business. Bank with a subsidized interest rate I checked different business oppor- by Tamkeen. tunities and finally found that there is a significant gap in the market for How did Blaze Burger become so burgers and casual dining. It is either popular in a short time? the cheap fast-food burgers or expen- We do not compromise when it comes sive quality burgers at 5 stars hotels to quality and we aim to provide the and first class restaurants. So why not best product to our customers. We serve quality burger, use fresh ingre- also do a substantial effort to improve dients, make it from scratch and serve and we always seriously listen to feedback. We started with a very basic it in a casual atmosphere?! menu and with time our offerings had How did you translate your idea to a fully-working business? One vital step is to write down your idea in the form of a feasibility study which will evolve into a workable plan. It is never wrong to go into a business or embark in a venture where you have little or no knowledge of. Do your homework and do whatever Swipe to change Page 2/3
Inside Blaze Burgers - Swipe to change
grown according to customers’ feed- for us. Now we are voted the 1st in back. You can say that foodies and not American/burger cuisine and the 9th among 152 fine restaurants listed. chefs created the Blaze menu. What are your plans for Blaze Burger in 2013? We are planning a new menu by the second half of the year. This menu will have a wider selection of products and we are doing our best to cater to a vast variety of tastes. Also I am working on a new pizzeria project where we are taking a totally different approach to pizza. It will be shocking, What has been the biggest milestone unique and tasty. for Blaze burgers? Within 2 years of operations we have What were your biggest lessons gone through several noteworthy learned which you think other startmilestones. First we had been hon- ups can learn from? ored to receive Social Media achieve- Always prepare for the worst case ment award from the Information Af- scenario and don’t let your passion fairs Authority and we received an overwhelm your business decisions. award from the Social Media Club to recognize our effort in social media A final message for our readers? marketing. Recently, our enlistment Starting a business needs lots of pain tripadvisor.com had really given tience and requires a serious comus a prospective of our status in the mitment. Failures and hardship are industry and also created a challenge the price you pay to achieve success. Do you have any mentors who provide you with guidance and advice? I regularly consult people who are knowledgeable in specialized fields such as marketing, accounting, social media and even cooking. I also take advice from anyone who is willing to offer it. You never know where you’ll get the next big idea from.
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Interview by Ahmed AlSawafiri
Do you have an innovative idea and would like to work from home? Would you like to earn extra income? Do you want to start your business but have limitied funds/resources? Do you dream of being an entrepreneur?
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Advice
Hire, Not Fire Your Step-By-Step Guide To Successful Staffing by Zain AlZayani
When starting a business, one can easily get carried away with all the preparations, financing, interior, marketing‌etc. Staffing is often limited to rapid hunts and swift hires, and then the entrepreneur hits the ground running. Just as fast as the employee was hired, a problem may arise and the employee is either fired, or worse resigns. In large companies, processes must be set, expectations communicated, and performances appraised and rewarded. No exceptions should be made as this could risk the survival of your business. It does take time and effort at the beginning and even resistance, but the benefits reaped from starting right cannot be expressed enough in words. Getting this right is even more challenging for startups and small businesses due to the lack of time drive, money, experience, or all the aforementioned. So where does one start? Easy! The wonderful worldwide web. There is no need to in-
vest in expensive templates or HRM systems. There is a great amount of material available online. It may sound overwhelming, but it puts the business on the right track and frees the entrepreneur from minding tedious and short-term operations. First Things First: Hiring! Irrespective of where the employee is hired from, a well-written job description is key to attracting the right candidate and also communicates the right expectations. You might find that some will pursue the job and some will realize it isn’t for them. This saves you unnecessary time wastage. Focus on the job and be clear as to what the key tasks are, responsibilities, duties, educational requirements and minimum experience. Interviews are critical and conducting the right interview will separate the good from the bad. Communicate Your Expectations! Once hired, this job description can actually become part of the employment contract along with additional information such as working conditions (hours, breaks, holidays…etc), benefits, perks, reward scheme, deliverables and training. Note that a frugal approach to reimbursement may be economically sound, but it can be damaging to the wellbeing of the business. Low pay, especially when employees can easily benchmark their pay against others, can be demoralizing and impact the performance of the business, thus eventually leading to changes in staff. Set Boundaries! Once the business is operational, manuals need to be created. Manuals should encompass all operations – from shop opening to shop closing procedures, stock-taking, how to setup customers, how to conduct services….etc. Any process that affects customers and can backfire needs to be properly documented. Manuals must be communicated to staff and memorized by all. They minimize confusion and facilitate quick learning and adaption of the standards set by the business owner. Quiz them on their knowledge if need be. Manuals ensure consistency and consistency is the supreme indicator of quality. It will keep people coming.
Determine Your Targets! Another essential step that needs to be set up once the business is operational is target-setting. Targets need to be set up for each employee and this doesn’t necessarily mean revenue or number of services conducted, but could also be based on positive feedback, key competencies displayed by the employee such as physical appearances, respect for time, attitude…etc. Targets differ for the various types of jobs but all jobs have targets – so identifying them should not be very difficult. Targets should be communicated regularly and be visible throughout the business – preferably not to customers though. So in the employee rest area, or storage, or even at the cash register, placing targets can act as motivators for staff. However, keep an eye out for unwarranted competitiveness amongst staff as it could cause tension. Rewards Go A Long Way! Targets lead to rewards. Although some may cringe at the sound of rewards and the financial impact they may carry, rewards may not be monetary. A day off, a dinner voucher or even a ten dinar gift card from a mall can go a long way! Employees value any sort of appreciation – monetary or not and the saying “it’s the thought that counts” really does apply here. Measure targets and performance regularly and reward consistently. Quarterly rewards or annual rewards are sufficient, but if you find your business environment calls for monthly then succumb to monthly perks but make sure your budget is ready for them. Regularity Is Key! Regular staff meetings are also key. Regularity is a clear indicator that management cares about staff and dedicates time to discuss day-to-day issues and plans. It is also a sign of professionalism. Monthly plans are a minimum although again, depending on the business, it may call for weekly or bi-weekly. Staff meetings should be communicated in advance and conducted either before opening or after closing, or when customers are not around. Ideally, the meeting agenda should include (but not limited to): positive feedback, constructive criticism, issues to resolve, issues to focus on, marketing activities for the month, and any other business functions. One-on-one criticism should be done on a personal level and never in the pres-
ence of the team. Assess Your Success! And last but not least – performance reviews. These should be done on an annual basis and realistically at the end of each year. Performance reviews give the business owner the chance to critique each employee in an open platform. It also highlights to the employee the areas they need to concentrate on and improve upon. Performance reviews can also lead to raises – depending on the outcome. Again, some may gasp at the thought of giving raises, but nothing encourages staff to outdo themselves like a monetary improvement. Even an increase of as little as 3% can have positive outcomes. Happy Management Yields Happy staff! Templates are in abundance online and the more you document, the clearer your expectations are of your staff. This leads to happier management that yields happier staff; A simple and achievable equation. Whether you are a 4-staff operation or a business with a team of 20 – setting up the right framework from the beginning is a sure way to retain staff and subsequently smooth sailing.
Advice
GUERILLA MARKETING Is Guerilla Marketing strategy right for you? by Isa AlMoawdah
Many startups enter the market with brilliant ideas, execute it beautifully, but later find out how tough and competitive the market is. Competing in highly competitive markets is extremely touph and can get you out of business. Well, not if you used a Guerrilla Marketing Strategy. WHAT IS GUERRILLA MARKETING? According to Al Ries, the Marketing Legendary (and my favorite author), Guerrilla Marketing is “To find a segment big enough to be profitable for the guerrilla, but too small to be tempting to the [market] leader”. What does that mean? If, for example, you want to enter the coffee-shop market, it’s quite obvious that Starbucks is leading, followed by other cafes such as Caribou, Costa, Coffee bean, etc. One way to enter the market with a Guerrilla strategy is to target a niche segment. An excellent example of this could be ‘Words Bookstore Café’, a coffee shop focusing on bookworms
who wants to relax and read. Another example is a coffee shop targeting moms with kids, with a playground corner and a kids menu. With the couple of examples I’ve mentioned, I don’t think any of the big competitors will bother to defend their market against your business, and you as an entrepreneur will be able to do business and profit in a tough market with a clearly defined segment. DEFINE YOUR MARKET Before you decide if you’re small enough to use Guerrilla marketing or big enough to act as a market leader, you will need to define the market. First, think of what business are you in. You might define your business as a fast-food chain, but the market sees it as a highend burger joint. An example of this is Fat Burger; their menu is a fast-food joint menu, their taste is very similar to Burger Kings Whopper, but their prices give the impression that it’s a highend burger joint. Therefore, they should either act as what the market perceives it, or work on changing the perspective. Once you define your market, compare your business size to your competitors especially the market leader. An easy way to measure the size is by measuring the traffic; how crowded is your competitor business, that’s how big your competitor is. If you count for less than quarter the size of the market leader, then you’re too small to get into a fight with it. HOW TO FIND A NICHE MARKET? There are several ways to find your niche market and compete in a Guerrilla strategy. Here are few ways; you just need to find what works for you. GEOGRAPHICALLY Jasmis is a great example for a guerrilla fast-food chain using a geographic niche market. It’s hard to argue that Jasmis is not the fast-food market leader in Bahrain, even compared to McDonalds. DEMOGRAPHIC Guess what! This magazine is an example of a guerrilla market-
ing competing in a demographic niche market. There are lots of magazines in the business field, but what makes this a Guerrilla is that it focuses only on young, tech-savvy entrepreneurs who are planning to start a business or already in their early years of starting up. INDUSTRY Being a business that produces one part of a whole industry can sometimes be considered a Guerrilla. Think of a business that produces a special kind of ink that is used in printing cheques, for example, or a manufacturer of microchips used in digital cameras, or programming software for food processing factories. PRODUCT While Nike and Adidas are competing in different kinds of sporting equipment and sport outwears, Prince chose to make tennis racquets. Not only they chose tennis, they are the ones that invented the oversized tennis racquets! Inventing a new product is a good way to become a Guerrilla. Another example is Jeep, a company focusing on small and medium size SUV’s. HIGH-END Speaking of cars, do you know that Rolls-Royce is a Guerrilla too? Rolls-Royce is competing in a niche market; the highest part of the automobile high-end market. The size of this market is not attractive (nor profitable) for Mercedes to compete in. Now Rolls-Royce owns a position no other brand owns. OWN A POSITION Positioning is the most important part of a marketing plan if not the whole business plan. When running a business, especially a Guerrilla, make sure you own a relevant position in the minds of consumers. When you think of an SUV, you think of Jeep, even though the size of their market is relatively small. Choose a position that fits you as a Guerrilla. Choose a position that is relevant, and own this position in the minds of customers. Wish you the best.
Advice
Why ‘Social Media’ II Create An Online Presence For Your Business! by Adel Maymoon
In the last issue, I talked about why it’s important for startups and entrepreneurs to use social media as their #1 marketing tactic to attract more customers and sell more products, and today I’m going to explain to you why and how this works. Why does social media work? First of all, social media is an important element in creating a total online presence for your product or service. Why is that important, you might ask? Well, there have been radical changes in customer behavior of the years, which significantly impacted how we do business and buy or sell products & services. Customers no longer come to your shop and ask about a certain product they might be interested in. Instead, they walk in to your shop knowing exactly what they want, which means the purchase decision is already made and they are here only to make the transaction.
Know Your Product! How on earth did that happen? Well, you might relate to the fact that many of us now a days have enough information about any product we want to buy or purchase more than the seller himself. Have you ever noticed that you know more details and features of a certain product you are about to buy than the salesman? You might even ask him some simple questions and he won’t have an answer. So how did all that happen? The answer is simple. More and more customers are ‘googling’ the products they want to purchase and read about all the features online. They will read customer reviews on various blog posts and social media networks just to make sure they are taking the right decision of buying this product. It’s very important to individuals to make the right purchase decision to avoid getting disappointed later on. An aspect so important, that it will make your customers put an extra effort in doing intensive research about your product before making the final purchase decision. Go The Extra Mile Now imagine that you have made every single detail about your product available online. You’ve written different blog posts about it, explained why this product is right for your customer, posted some other customers testimonials about how happy they are with the product they bought from you, tweeted and re-tweeted information and positive feedback about your product and posted pictures and videos about the product and how to use it efficiently and make the most out of it! Boy, if I was looking to buy something and found a seller doing all of this, I will surely buy from this guy who certainly is not just a seller or a distributer, but a thoughtful leader in his industry and an expert, whom I will be happy to learn from and make the transaction with easily! Bottom line is, customers shopping behaviour have changed drastically because of the Internet and social media. The more information you make available online and on social media about your product or service, the higher your chances are of increasing sales and having satisfied customers.
Resources
Gadgets Debrief By Mohamed Isa. Tap on a gadget to read the review
Logitech Professional Presenter R800 The last thing you need when giving a presentation to a client is to go back to your laptop to advance slides or use a lousy wireless presenter that fails half way through. Logitech’s Professional Presenter R800 solves this with a unique simplified design, built in green laser pointer, LCD screen to make sure you’re on time and an insane wireless range that will enable you to control your slides 3 rooms away.
Resources
Gadgets Debrief By Mohamed Isa. Tap on a gadget to read the review
Sony NEX5-R The NEX series promises superior DSLR quality in a more affordable and compact package. The camera may be larger that your average point and shoot, but is definitely lighter and smaller than an entry level DSLR. The new model is equipped with apps, WiFi support and an even better focus and image quality than previous models. Recommended for someone seeking good quality photos without breaking the bank.
Resources
Gadgets Debrief By Mohamed Isa. Tap on a gadget to read the review
Blackberry Z10 Blackberry suffered tremendous hit from iPhone and Android devices. The company’s inability to bring a compelling smartphone experience with it’s gaining operating system made things very difficult for the Canadian pioneers. The Z10 is Blackberry’s attempt to recapture the heart of its strong followers. It manages to transform Blackberry into a relevant player, but fails to attract the essential apps and features available from competitors. Recommended for hardcore Blackberry fans only.
Resources
Gadgets Debrief By Mohamed Isa. Tap on a gadget to read the review
Aerobie AeroPress Coffee & Espresso Maker Coffee is an essential part of everyone’s daily routine. Some people, including ourselves, are unable to operate without a cup of americano or dose of espresso. The AeroPress solves this issue, by enabling you to prepare your espresso shot in 30 seconds only with unbelievable ease. The nifty design and superb coffee quality generated a cult following this unusual coffee maker, including an international championship.
Resources
book reviews By Mohamed Isa. Click on a book to read its review
FREE: The Future of a Radical Price, by Chris Anderson Wired Magazine’s Editor in Chief goes through a barrage of business models, methods and tricks to achieve profitability by selling things for free. Thus, exploring various success stories and shining examples of providing exceptional value to customers without a price tag. Chris is a great storyteller. The book opens with the story of Jell-O, a business that flopped and was sold for 450$, and how free tactics made the failing brand a multi-million dollar business. The book explores the uses of subsidies, advertising, supporting services and ends up with 50 different business models to choose from. Examples include video game consoles giving the hardware for free and selling the software or tech companies selling the hardware and giving the software for free. FREE is a must to anyone interested in starting up a digital goods business. The book argues that Zero is the right price that customers are willing to pay. The question is how to make profit, and whar are the greatest examples.
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book reviews By Mohamed Isa. Click on a book to read its review
How to Measure Anything: Finding the Value of Intangibles in Business, by Douglas Hubbard Developing a business case can be a tedious task, especially when dealing with uncertainties and doubts. The biggest frustration is that you know that there are valuable things that you can’t even measure. The book introduces readers to a great estimation method developed by Nobel Award winner Enrico Fermi, then showcases various methods to calibrate estimates followed by the author’s “Applied Information Economics” or AIE. The most important fact is that the book redefines the meaning of measurement to the reader. Unlike any other definition, measurement here is defined as “A quantitatively-expressed reduction of uncertainty based on one or more observations”. The book provides practical and mind-blowing techniques to quantify things you couldn’t even imagine they could be measured. It is also supported by information sheets and Excel templates to simplify your life. How to Measure Anything is a book that should be in everyone’s library!
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book reviews By Mohamed Isa. Click on a book to read its review
Onward, by Howard Schultz It’s not just the coffee that defines the Starbucks experience. The global brand has more than just the best quality coffee beans skillfully roasted and prepared by their trained baristas. Starbucks has a soul, and a few years ago, everyone felt that the company lost it. The book follows the steps of the company’s founder and chairman, Howard Schultz, and his decision to come back as CEO to re-invent Starbucks. What’s very important is the method the “Transformation Agenda” was executed and how it achieved its major objectives and how it brought the company back to profitability during the worst crisis in the history of the United States and the world. Onward, provides an amazing insight into how a huge company can retake the crown by focusing on the details of everything that affects its customers. From the large size of the espresso machine that can limit customer interactions with the baristas to the smell of burning sandwiches overtaking the aroma of freshly-brewed coffee.
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book reviews By Mohamed Isa. Click on a book to read its review
iWoz, by Steve Wozniak I’m not an Apple fan boy and by no means have any emotional attachment to the company’s brand or Steve Jobs’s charm, but after reading Steve’s book I couldn’t stop myself from picking up Steve Wozniak’s personal biography, iWoz. Without Wozniak there will be no Apple. Woz was the true creator of the first Apple PC and the sole genius behind the Apple II, the company’s most successful product, a personal computer that can be used by anyone. The book narrates the company’s history from Wozniak’s perspective, a real engineer with strong passion and love for technology, mixed with a humble and giving personality. A legendary saga that started with the development of the duo’s first product, a box that allows people to make illegal phone calls and ended with what became the first real PC. It’s a great book about a great personality. Recommended for anyone into business and technology and not only Apple fans.
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APPS DEBRIEF By Mohamed Isa. click the next or back arrows to browse the apps click on the app itself to grab it from the apps store
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< Last Pass for Premium Users
(iOS, Android, Windows Phone, Blackberry, Web, Windows, Mac)
Think about one secure location for all your passwords. A place to store all forms you fill online, including addresses, credit card information and other secure notes. Now add the ability to automate your browsing experience across different platforms. LastPass uses an industry leading encryption method and supports multiple authentication methods like Google Authenticator and YubiKey tokens for the paranoid ones out there like myself!
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APPS DEBRIEF By Mohamed Isa. click the next or back arrows to browse the apps click on the app itself to grab it from the apps store
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< SeatGuru
(iOS, Android, Windows Phone, Blackberry, Web, Windows, Mac)
One of my old-time favorites is now a handy app for iOS and Android. SeatGuru enables you to select the right seat in your flight, alerting you to look out for lousy seats with limited leg room, immovable tray tables, external noise and close proximity to lavatories. Strongly recommended for frequent travelers and anyone looking for extra comfort. The app adds some additional features like flight tracking and ticket prices to the mix.
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APPS DEBRIEF By Mohamed Isa. click the next or back arrows to browse the apps click on the app itself to grab it from the apps store
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< Catch (iOS, Android, Web)
Catch utilizes a simplified gesture-based menu to enable you to quickly capture a wild idea, mark a task complete, take a photo or record a voice note. You can also share your lists and to-dos with your team for better collaboration, or even utilize a browser extension to capture clips from your computer while surfing. Worth trying!
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APPS DEBRIEF By Mohamed Isa. click the next or back arrows to browse the apps click on the app itself to grab it from the apps store
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< Toshl (Web, iOS, Android, Windows Phone, Symbian, MeeGo)
Budget apps are usually ugly and over complicated. Toshl is the opposite! The app features slick style and amazing visualization without lacking in features or capabilities. You can simply track your expenses in a few clicks, manage your budget and get an overall view on how much you have been spending on your Frappuccinos. The pro version unleashes the full potential of the web app.
Worldwide
startup story Pinkberry began selling frozen yogurt in 2005 as a fragile startup and has grown into a solid and expanding business with more than 170 stores worldwide. The story of how Pinkberry opened for business during a rainy California winter and grew to dominate the frozen yogurt market is amazing. They’ve experienced so much success that they have taken over the nickname “Crackberry” that once described the Blackberry mobile phone. So how did they do it in just over 10 years? Page 1/3
The Birth and Growth of Frozen Yogurt
Americans have had a love affair with frozen yogurt for more than 40 years, but it wasn’t until the 80s when it became a huge hit with consumers interested in a healthier, low-fat option for ice cream. By the time the 90s rolled around, frozen yogurt had captured a %10 share of the frozen dessert market, thanks to the rapid growth of the TCBY frozen yogurt chain. In the years since the first Pinkberry opened its doors in
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Southern California, frozen yogurt has made a rapid comeback. According to Pinkberry founder Shelly Hwang and her partner Young Lee, they did not revive the frozen yogurt of the 80s and 90s. They instead reinvented the product. Their first store in West Hollywood quickly became famous for its 5$ cups of yogurt. People drove miles to the store and were willing to wait in line for 30 minutes, because there were not enough parking spaces in the residential neighborhood where the store was located. Pinkberry became known as “the taste that launched 1,000 parking tickets.” To keep up with staggering demand, Hwang and Lee opened a second store in 2006. Shortly after, they began to offer franchise opportunities. Entrepreneurs quickly jumped at the chance to ride the pink wave. Pinkberry is now a worldwide sensation and shows no signs of slowing down. According to Ron Graves, venture capitalist and Pinkberry’s CEO, they receive hundreds of requests for franchises each month. Page 2/3
The Appeal of the Pinkberry Brand
Much of Pinkberry’s success is due to the brand that they have cultivated by being authentic, staying consistent, remaining focused, and creating an emotional connection with their customers. They’ve carved out a valuable niche by selling 5$ cups of frozen yogurt to customers who have their treat while sitting on 500$ Victoria Ghost designer chairs. Graves sums up the brand as: authentic, lovingly crafted, inspired, thoughtful, anticipatory, intuitive, clean, light, refreshing, premium, current but not trendy, and like a best friend. Pinkberry has now earned its place in pop culture having been featured in US Weekly and People. Celebrities including Lindsay Lohan, Paris Hilton, and Mike Tyson have been photographed eating Pinkberry frozen yogurt. The product has also been written into the shows Saturday Night Live and Ugly Betty.
The Value of Venture Capitalists
that Pinkberry is the most talked about brand in its market. They were fortunate to emerge on the scene just as social media began to dominate the Internet. It was their highly social, and social media savvy, customers who helped build brand awareness by becoming Facebook and Twitter groupies who love to talk about the brand and make product recommendations.
Pinkberry may have never experienced such wild success if it was not for the 27.5$ million cash investment from Maveron, a venture capital firm started by Starbucks founder Howard Shultz and Pinkberryâ&#x20AC;&#x2122;s current CEO Ron Graves. The cash, along with Graveâ&#x20AC;&#x2122;s experienced guidance, allowed Pinkberry to focus on building an infrastructure that would support their planned development and Pinkberry was a great idea that hit the expansion. market at the right time, but good ideas are never enough. Their worldwide The Importance of Partnerships Pinkberry has created a corporate success is based on their ability to focus culture that considers franchisees to be their brand image, attract substantial partners. Graves understands the power investment, and follow the guidance and importance of partnerships. As a part of experienced business leaders. Not of their expansion plan, Graves sought only are they positioned to continue partnerships with local developers who to expand into new markets, they are had the necessary experience, local benefiting from a powerful boost from knowledge, and capital to develop their social media. franchise territory. It was also crucial that new franchisees demonstrated shared values and a passion for Pinkberry. The partner franchisees chosen by Pinkberry are not only committed to the brand, they are also knowledgeable about trends in the communities they serve as well as the local real estate market. It is also important to Pinkberry that their partners have the ability to invest in and operate multiple stores in one territory.
The Impact of Social Media
Graves knows that Pinkberryâ&#x20AC;&#x2122;s success was built on word of mouth. He says Page 3/3
Worldwide
Worldwide
Fredrick W.Smith
The man who changed the way the world does business Fred Smith is the entrepreneur who scored a ‘C’ on a school paper where he first drafted the idea of an overnight shipment delivery system. His professor thought that “The concept is interesting and well-formed, but in order to earn better than a ‘C’, the idea must be feasible”. So how did Mr. Smith transform his idea into a super-successful, multi-million dollar business? Now more than 40 years down the lane, FedEx is the leading global courier delivery corporation, delivering more than 3 million packages to nearly Page 1/2
210 countries every working day. Fred Smith succeeded enormously despite the apparent “unfeasibility” of his idea. Success Tips You Can Learn From Fred Smith
1. Don’t be afraid of criticism
In Fred’s own words, “Criticism doesn’t bother me. What we’ve tried to do inside FedEx is to say that criticism is a real opportunity to improve. When we do something wrong for a customer, that’s when we really have a chance to learn how to do things better.”
2. Enjoy what you are doing, take it ty and workers’ commitment. “You can’t make people do what’s right. easy and never give up
You can lead them, and you can empower them to make the right decision, but if you don’t produce a culture that allows them to do that, then all the rest is just bumping your gums as one of my old business partners used to say” Fred remarked in one of his interviews. He further said, “Our People, Service, Profit” philosophy insists that our people be treated fairly. If we give good service and we come up with a reasonable profit, we make that a good deal for our employees, with profit sharing, promotions, and complaint procedures. If you 3. Adapt to the changing needs of spend any time looking at the culture of FedEx you’ll find that PSP (People, Serthe time Adapt to the market changes and do vice, Profit) philosophy is the foundawhat’s necessary to keep your busi- tion of everything else.” And this leads ness pushing ahead. In 1994 during the us to the final point. rise of the Internet, Fred introduced a service that allowed customers to co- 5. Be A Good Boss! ordinate their domestic deliveries via Fred worked hard at being accessible internet-linked computer software and to his employees and to acknowledge a marketing service that provided busi- their efforts. He often visited the FedEx nesses with an online catalogue of their headquarter site late at night, greeting goods directly linked to FedEx. When many of the employees by name. He the economy went rough, he reduced once published full page newspaper ads his own salary and cut down advertise- to thank the employees for their hard work when they had to process 800,000 ment costs. “As time changed and markets changed additional packages after workers from and peoples’ expectations changed, we a competing firm went on strike. Fred Smith changed the way the world changed with them” says Smith. does business, when he was told it couldn’t be done. His reaction was sim4. Put people first One of the driving forces of Smith’s suc- ple, “I didn’t know I couldn’t do this”. cess was fostering a corporate culture FedEx now has 170,000 employees, hunwhere the workers are treated fairly, dreds of planes and thousands of trucks believing that it instills company loyal- and is worth $16 billion! Enjoy what you are doing and don’t let bad experiences derail you from the road to success. Quoting Smith: “I’ve had all kinds of adversity, but I think you have to put those things in perspective.” “I’ve enjoyed every bit of putting the company together. Even the bad parts I learned from. I’ve enjoyed it immensely, and I enjoy what I’m doing today. I enjoy running the company.” “You’ve got to enjoy what you’re doing, have some fun, and be able to laugh at yourself a bit.”
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By Osman Safdar