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WelcometothelatesteditionofTheEnterpriseWorld,wherewespotlightthemost visionarybusinessleaderstowatchin2024.Inarapidlychangingglobal landscape,it'sessentialtorecognizetheindividualswhoaredrivinginnovation, shapingindustries,andinspiringchange.
Inthisissue,wecelebratethetrailblazers,disruptors,andforward-thinkerswhoareredefining thefutureofbusiness.Fromemergingentrepreneurstoseasonedexecutives,theseleadersare harnessingcreativity,resilience,anddeterminationtonavigatechallengesandseize opportunitiesinanever-evolvingmarketplace.
Asweembarkonanewyearfilledwithpromiseandpossibility,it'sinspiringtowitnessthe boldvisionsandboldactionsofthesevisionaryleaders.Whetherthey'rerevolutionizing traditionalindustries,pioneeringcutting-edgetechnologies,orchampioningsustainability initiatives,eachindividualfeaturedinthisissueismakingaprofoundimpactontheworldof businessandbeyond.
Joinusasweexplorethestories,strategies,andinsightsofthemostvisionarybusiness leadersof2024.Fromtheirinnovativeapproachestotheirunwaveringcommitmentto excellence,theseleadersaresettingnewstandardsforsuccessandinspiringotherstodothe same.
Wehopethisissueservesasasourceofinspirationandmotivationforentrepreneurs, executives,andbusinessenthusiastsalike.Together,letusembracethespiritofinnovation, collaboration,andforward-thinkingaswechartacoursetowardabrighter,moreprosperous future.
Here'stothevisionaryleaderswhoareshapingthebusinesslandscapeoftomorrow.Maytheir storiesignitecreativity,sparkinnovation,andinspireusalltoreachnewheightsofsuccessin theyearahead.
Jenna W Hazel G. Marketing Coordinator (EMEA) The Enterprise World High Street North, East Ham, England GB
Shweta K. Peter J. Alice J.
Forthecoverreadabout-
Forthecoverstoryreadabout-
Excellenttrainingisimportantbeforestartingabusiness,itgivesastrongbaseofknowledgeand skills.Ithelpsyouunderstandtheinsandoutsoftheindustryyouareentering. Awell-trained leadercanovercomethedifficultiesofthebusinessworld,withsmarterdecisionssettingthe organizationapartfromothers.
Onthecoverofthisissue,wehavefeatured at NariKatgara(CountryDevelopmentManager Jeena&Company).Aspartofthe5thgenerationofthefamily,Nariisoneofthesignificant drivingforcesbehindJeena’sinternationalexpansion.Asacountrydevelopmentmanager,the organizationhasseenremarkablesuccessunderhisastuteleadership.
GuyFerraro,CEOofNPCSYSTEM,standsasaprimeexampleofaleaderwhodedicated yearstoimprovinghisexpertisebeforeventuringintoentrepreneurship.Afteryearsofhardwork, henotonlygainedvaluableexperiencebutalsoacquiredkeybusinesseswithinthecompany Ferraro’sexpertiseplayedavitalroleinexpandinghisbusinessglobally
VariousfactorsinfluencedFerraro’sdecisiontostarthisownbusiness.Duringhisengineeringin theUS,hedevelopedapassionforcommunicationprotocols,especiallysatellitecommunications.
Nari’sjourneyhasbeenaconstantlearningexperience.Heattributeshisknowledgetothe guidanceofthebestleadersinlogistics,includinghisfatheranduncles.“Themoreweare exposedtopracticalsituations,themoreadeptwebecomeathandlingoperationalissues,”he says.Logisticsandsupplychainmanagementarecomplexfields,requiringcontinuouslearning andadaptation.Nari’stenureatJeenaGlobalallowedhimtoapplyhisknowledgeeffectively,and helooksbackonhisjourneywithgratitude.
Hisworkcombinescustomerretentionwithnewacquisitions.However,hisresponsibilities extendbeyondcustomerrelations.Nariconductsindustryresearchandmanagesoperations,sales, andfinanceremotely Thismultifacetedroleisasignificantachievement,anditunderscoreshis commitmenttothecompany’ssuccess.
In2009,hesecuredapositionatALSTOM,acompanyheworkedwithfortenyears,specializing indevelopingandinstallingsatellitetrackingsystems.Throughoutthisperiod,hegainedinsights intotheproductitwascommercializing,andclientmanagement.Theuseofareliableproduct developedintheearlydaysofsatellitecommunications,combinedwithtrustedtechnologyfrom prominentcompanies,servedasthedrivingforcebehindFerraro’sdecisiontoinitiatehisbusiness adventure.
FerrarofoundedNPCSYSTEMin2018andservesasaCEO,guidingthecompanywithhis experienceinconstruction,technology,andhisbackgroundinhightechproductengineering.. Hiscareershowshiswillingnesstolearn,adapt,andaimforexcellence.
Inthespecialprofilesection,wehavefeaturedthestoryof of LauraBrandao(CEO Lighthouse LendingCapital).LauraBrandaoisastaunchsupporterofdiversity,inclusion,andequityinthe businessworld.Acareerspentadvocatingequalaccesstofinancialprogramsforwomen, minoritiesanddisadvantagedpeoplehasbroughtLauratotheintersectionofpassionand obsession.Whetheritisbuyingahomeorstartingabusiness,shehasfoughtforequalfinancial accessandopportunityforall.
“To start a high-tech venture, the primary asset is firstly to have excellent technical training.”
Excellenttrainingisimportantbeforestartinga business,itgivesastrongbaseofknowledgeand skills.Ithelpsyouunderstandtheinsandoutsof theindustryyouareentering. Awell-trainedleader canovercomethedifficultiesofthebusinessworld, withsmarterdecisionssettingtheorganization apartfromothers.
GuyFerraro,CEOofNPCSYSTEM,standsasa primeexampleofaleaderwhodedicatedyearsto improvinghisexpertisebeforeventuringinto entrepreneurship.Afteryearsofhardwork,henot onlygainedvaluableexperiencebutalsoacquired keybusinesseswithinthecompany.Ferraro’s expertiseplayedavitalroleinexpandinghis businessglobally.
VariousfactorsinfluencedFerraro’sdecisionto starthisownbusiness.Duringhisengineeringin theUS,hedevelopedapassionforcommunication protocols,especiallysatellitecommunications.
In2009,hesecuredapositionatALSTOM,acompany heworkedwithfortenyears,specializingindeveloping andinstallingsatellitetrackingsystems.Throughout thisperiod,hegainedinsightsintotheproductitwas commercializing,andclientmanagement.Theuseofa reliableproductdevelopedintheearlydaysofsatellite communications,combinedwithtrustedtechnology fromprominentcompanies,servedasthedrivingforce behindFerraro’sdecisiontoinitiatehisbusiness adventure.
FerrarofoundedNPCSYSTEMin2018andservesasa CEO,guidingthecompanywithhisexperiencein construction,technology,andhisbackgroundinhigh techproductengineering..Hiscareershowshis willingnesstolearn,adapt,andaimforexcellence.
NPCSYSTEMwasfoundedinJuly2018whileFerraro wasstillanemployeeofGERenewableEnergy.GE announcedadownsizingplaninJune2017,andatthat moment,herequestedpermissionfromthecompanyto submitabidtoacquirethreebusinesses.Hehadto developabusinessplanforthesethreebusinessesfor3 to5yearstoobtainfundingfortheacquisition.
The following are the businesses acquired by NPC SYSTEM:
Business One: Satellite Tracking Systems:
The company is expanding the team. It makes satellite tracking systems with in-house products. These systems compete with others on the market. The company’s solution works well on new and existing systems without changes It has expertise, especially in the Current systems.
Business Two: Marine Activity - Steam Regulation Systems:
The company makes and sells systems that regulate steam for control systems on different French Navy ships, including four nuclearpowered ballistic missile submarines and the aircraft carrier Charles de Gaulle
Business Three: Power Plant Regulation Systems:
The company works on making and selling systems that control how power plants run in places like Guyana, Martinique, and Corsica. It might end in 3 to 5 years when new, more eco-friendly energy plants take over from the old ones
WhenFerraroestablishedNPCSYSTEM,the initialchallengewasensuringcontinuousservice forexistingcustomers.Convincingtheselongstandingclientswascrucial.
Thisrequiredencouragementtoprovetoclients thatarecentlyformedcompanyincludingonly fourteammembers,couldsuccessfullyadoptthe responsibilitiesthatwerepreviouslymanagedby ALSTOM/GE.Achievingvalidationandtrustfrom theseclientsbecamethefirstmilestoneforhim beforemovingforwardwiththecompany’s development.Itreceivedapositiveresponsefrom long-standingcustomers,whorebuilttheirtrust andawardedNPCSYSTEMwithadditional renovationprojects.
FerraropointsoutthreethingsthatmaketheNPC SYSTEM’sproducts/servicesdifferentfromothers:
Withafive-decadelegacy,thecompany's technology,trustedbymajorspaceindustryplayers likeTHALESALENIASPACE,AIRBUS DEFENSEandSPACE,EUTELSAT,andmore, boastsunparalleledcredibility
Thecompany'sdistinctivenessliesininternal productdevelopmentforitssatellitetracking solution.Completecontrolensuresadaptabilityto markettrends,technologicaladvancements,and customerfeedback.Adedicatedteamfostersa closeend-userrelationship,providingtrainingfor self-sufficientsystemoperation.
Standingoutforitsabilitytointerveneonsatellite antennasofallbrands,thecompanyexcelsin replacingtrackingsystemsforanyapplicationon antennasofalldiameters.Thisuniqueadvantagein renovationextendsthecompany'sreachintoa diversemarket.
StrongleadershiplikeFerraro’sisessentialfor makingproducts/servicesstandout.Leadersinspire innovation,guideteamstoidentifyuniquefeatures, andadoptacultureofexcellence.Theysteerthe organizationtowardstrategicdifferentiation, creatingacompetitiveedgeinthemarket.
Ferraro,asuccessfulbusinessleader,sayshehas notfacedbigfailureswithNPCSYSTEM.His mainchallengesarehandlingthegrowthofthe team,includingtechniciansandengineers, while keepingthecompanyprofitable.Thehardestpartis makingsurethecompanygrowsslowlyandina controlledway
Thinkingaboutleadershiplessons,hehighlights that,evenwithfinancialchallengesinmanaginga technicalbusiness,itisimportantnottofocusonly onmoney.Hementionsthatalthoughmakinga profitisimportantwhenstartingacompany,histrue passionfortheproduct,theaerospaceindustry,and satelliteshasbeenastrongmotivationsincehis schooldays.Thequalityofclientsheworkedwith atALSTOM/GEalsoinfluencedhowhesees things.
Ferrarounderlinesthathisdecisionsimpactingthe companyextendbeyondfinancialimprovement.He valueshowthecompanycanbenefitinthemedium andlongtermfromhischoicesregardingproducts, clients,talents,ororganizationalprocedures.The cruciallessonhelearnedisnottoletfinancial thoughtsguidehisdecisionsforNPCSYSTEM.
Beforeleadingthecompany,Ferrarospentmore timebeingled,andheseesthisasanadvantage.It helpshimidentifyunproductivewaysofmanaging andavoidingmistakeshehasseenbefore.Hedoes notsetstrictrulesforwhatamodernCEOshould bebutfocusesonspecificthingsatNPCSYSTEM.
Ferrarothinkstheworkingenvironmentiscrucial foremployeeproductivity.Helearnedthisduring histimeatNationalInstruments,atechcompanyin Texas.Whileworkingthere,hewitnessedhow focusing oncreatingadequateconditionscan help employeesgrowprofessionally.InhisroleatNPC SYSTEM,heisworkingonbuildingagood reputationasanemployerandattractingnewtalent. Hewantstomaintaintheexpertiseofthecompany
Inspirationisessentialforleadersbecauseitsparksmotivation,fuelsinnovation,and strengthensteamwork.Ferraroidentifieshisfatherashisrolemodel,atechnical directorataFrenchnuclearresearchcenter.LookingbackonhistenureasCEO, particularlyduringimportantmoments,heoftenenvisionshisfather’sapproachand decisionsinsimilarsituations.Helearnedtothinkaboutthings,takeabreak,andask differentpeopleforopinionsfromhisdad.Herespectshisdadforbeingasignificant inspirationforhimandalsomisseshisfather
Spendingtimewithfamilyisimportantforbuildingstrongrelationships,offering emotionalsupport,andmaintainingahealthywork-lifebalance.Itreducesstress, createsunforgettablememories,andcontributestooverallwell-being.FromFerraro’s pointofview,lookingbackatthestartofhisbusinessjourney,thequestionof balancingworkandlifewasimportant.Duringthattime,theteamwasjustfourpeople, andthereweremanytaskstohandle,likemanagingmoney,understandingbusiness rules,andmakingthebusinessplanwork.
Managingpersonalandworklifewaschallenging.Heagreeswiththesayingthat behindasuccessfulmanisasupportivewoman,andheisthankfulforhiswife’s supportfromthebeginning.Evenwithchallenges,hemadetimeforhisfamily, especiallybecausetheyallenjoywintersports,particularlyskiing.Heremembers skiingonweekendsandholidayswhenhiskidswereyounger.Now,heandhiswife stillenjoyskiinginwinteranddoingwatersportslikekitesurfingandwingfoilingin thesummer Takingregularvacationswithhiswife,focusedontheirsharedlovefor sports,makesFerrarofeelcomfortable.
Ferrarothinksthatbusinessleaders,especiallyinatech-focusedsociety,faceabig challenge.Accordingtohim,themainproblemisfiguringouthowtouseartificial intelligenceineverydaybusinesstasksanddevelopmentprocesses.Hiscompanyis currentlyexploringhowAIcouldhelpinareaslikedevelopment,productmanagement, projectmanagement,anddealingwithclients.
Discussingtheprimaryworkofupgradingsatellitetrackingsystemsoncurrent antennas,Ferraropointsoutamajoradvantage—theskillsoftheteam.Hegainedthis experiencethroughyearsonthejobandhandlingvarioussituations.Whetheritis checkingoutsitesbeforeaprojectorputtinginsystemsduringrenovations,his understandingkeepsgettingbetter.Hepointsoutthatincludingartificialintelligencein thebusinessiscurrentlychallengingduetothehumanjudgmentandunderstanding requiredforthesetasks.
Ferraroadvisesstartingahigh-techbusinessaftergettinggoodtechnicaltraining.He recommendsseizingtheopportunitywheneverythingfallsintoplace:lovingthe industry,havingapassionfortheproduct,andrecognizingthebusinesspotential. Encouragingyoungentrepreneurs,headvisesthemtotrusttheirinstinctsandtakethe leapiftheygetthechancetounderstandandenhancetheirbusinesspotentialovertime.
“To Start A High-tech Venture, The Primary Asset Is Firstly To Have Excellent Technical Training.”
Imaginealongqueueofmenwiththesameface,height,andeveryothertrait.Theylookedliketheywerefromthesame
factorywiththeirmatchingblackcoatsandtrilbyhats.Eachmanwithaperfectlysquarebriefcasetookonestepata timeatthesamerhythm.Likesomeproductsonamanufacturingbelt,theyslowlymovedtowardtherimofnothingness.
Nooneasked“Why?”astheweightofthisquestionisunbearabletothebestofus.However,onemanrefusestofalloffthe edgeofthisbureaucracy.Uponawakening,hisconsciousnesstriggeredapairofwingstobloomonhisback,carryinghim towardthelightofliberation.
Thesecomplexitiesofhumanlifeintertwinedwiththemediocrityanduncertaintyinmystoriesarenowadayscalled “Kafkaesque.”ThisbeautifulblendhassomethingtodowithwhereIwasbornandspentmostofmymediocrelife—“The CityofaHundredSpires.”
InCentralEuropeliesacitywithablendofhistory,culture,andmystique—Prague,mirroringthesoulofmyliterary creations.Aplacethatwillbloomwingsonyourbackandmakeyouflyfarawayfromthesameoldqueue,thebirthplaceof myfictionalworld.IamFranzKafka,andthisarticleisatourofthemagnificentcityofPrague.
“History”—onedoesnothavetodiebut changeinsomesorttobecomeapartofit, likethecityofPrague.However,one cannotbecomehistorywhilestillalive, likeme.FocusingonPrague,itsbeautyis afruitfromagigantictree.Theseedof whichwasplantedonthegroundsofwars andrevolutionsofallsorts.
Pragueisthecapitalandthelargestcityof theCzechRepublic.Locatedonthe longestriver,theVltava,itishometo about1.3millionpeople.AsIstroll throughOldTownSquare,Iamimmersed inthehistoryechoingthroughthe centuries-oldbuildings.Foundedduring theRomanesqueera,thecityofahundred spireslaterflourishedduringtheGothic, Renaissance,andBaroqueeras.
Thiscityhasbeenapartofmajorworld eventsliketheFirstWorldWar,resulting inthedefeatoftheAustro-Hungarian Empire.Praguebecamethecapitalof Czechoslovakiaduetoitsthriving industrialsector.Followedbythepositive waveoftheVelvetRevolutionin1989, whenCzechoslovakiaexperienced significantbenefits.Theyear1993 witnessedtheVelvetDivorce,leadingto theestablishmentoftheCzechRepublic, proudlydeclaringPragueasitsnew capital.Sincethen,Praguehasemergedas theculturalcenterinEurope,showcasing adistinctinfluencefromtheforcesof globalization.
Tounderstandacity,onemustfirstknowitspeopleandthewaytheylivetheirlives.Hereisanaccumulationoftheeconomy ofthecityofahundredSpires.
WheneverIwasfreefrommy9to5prison,IlovedstrollingthroughtheHradčanyneighborhood.CharlesBridgeisoneof Prague’smostfamouslandmarksandapopularattractionforvisitors.Therefore,itmakessensethatthereisadaytimefrenzy unlikeanyother.However,duringthemainseason,oneishustledthroughthebridgeratherthanbeingabletoseemuchofit intheafternoon.
PragueCastleisonapeakofaround70metershighandstands proudlyovertheVltavaRiver.Uponreachingthesummit,onecan findtheworld’slargestenclosedcastlegrounds,withother attractionstoexplore.
• St.VitusCathedral:ItisamagnificentGothicstructureandthemostimportantchurchintheCzechRepublic,serving asafocalpointofthecityofahundredspires.AhighlightistheviewfromtheclocktowerofSt.VitusCathedral.
• GoldenLane:Housenumber22onthischarmingalleywaspreviouslyhometoFranzKafka.The16thcenturygave risetotheuniqueappearanceoftheGoldenLanewithitsmodesthome.
• OldRoyalPalace:Ifyouleantowardshistory,youmightwanttovisittheOldRoyalPalace.TheOldRoyalPalace wasthesceneofthePraguedefenestration.Theheartofthepalaceisthe60-metre-longVladislav.
• St.George’sBasilica:OneoftheoldeststructuresinPragueCastle,thisbasilicadatesbacktothetenthcentury
YouhavetogothroughsecuritybeforeenteringthegroundsofPragueCastle.Certainplaces(suchastheSt.VitusCathedral entryorcertaincourtyards)arefreetovisit,butmanyattractions(liketheGoldenLane)requireaticket.
Prague’soldtownisontheothersideoftheVltavaRiver.TheOldTownSquareisthemainsquarebyfar.Youwill eventuallyarrivehereifyoustrollthroughthecity’swindinglanes.
EveryrowofhousesintheOldTownSquareismoreexquisitethanthelast,makingitaveritableworkofbeauty.Some majorattractionsarelocatedintheOldTownSquare,includingtheOldTownHallandtheimpressiveChurchofOurLady beforeTyn.
OldTownHallwithitsastronomicalclock:Theclockisoneofthemainattractionsinthiscityofahundredspires,theOld TownHall,createdinthefifteenthcentury.Sincethen,ithascontinuouslyevolved.Thisplacehasaglockenspielthatchimes everyhouronthehour
TheJewishneighborhoodislocatedinthenorthernsection ofOldTown.Itisaboutafive-minutewalkfromtheOld TownSquare.Thereareseveralnearbyattractionsto discoverhere.
• TheOldJewishCemetery:Thislocationhasabout 12,000gravestonesjammedupagainstoneanother Youarewelcometotourtheregion.
• TheSpanishSynagogue:ItisaJewishdistrict’smost strikingsynagogue.ItsMoorish-styleconstruction surpriseduswithitsinteriordesign.
• TheOldNewSynagogue:Itistheoldestsynagogue inEuropeandoneofPrague’sfirstGothicstructures.
• MaiselSynagogue:AnexhibitionontheJewish historyofBohemiaishousedinthisunassuming synagogue.
• PinkasSynagogue:Here,thereisamemorial dedicatedtothevictimsoftheHolocaust.
• KlausenSynagogue:Amodestsynagoguedesignedin theBaroquestyle.
WenceslasSquareholdsapoliticalsignificancethatextendsbeyonditsappealtotourists.Numeroushistorical eventshavetakenplaceonthesquare,includingthestudentJanPalach’sself-immolationinprotestofthePrague Spring’srepression.WenceslasSquareisnotsomuchasquarebutabroadavenue.
KlementinumLibrary:TheBaroquelibraryoftheformerJesuitinstitutionsisthemostimpressive sight.However,onecanonlyseeitwhenonatour
FranzKafkaStatue:CzechartistDavidČerný’ssculpturesdotPrague,featuringthefuturisticheadof FranzKafka(Yep,that’sme)neartheQuadrioshoppingmall.
JohnLennonWall:ThisstreetartwallpayshomagetoJohnLennon.It’sworthaquickstopifyou’re inthearea.
DancingHouse:TheDancingHouse,aprominentmodernarchitecturalmarvelinPrague,waserected in1996alongtheVltavaRiver Whilenotdeemedamust-see,abriefphotostopatthisdistinctivesight isrecommendedforitsuniquedesign.
WallensteinGarden:SituatedbeneathPragueCastle,thisBaroquegardenoffersanidealspotfora briefrespiteduringyoursightseeingadventures.
Prague’sBohemiankitchenisknownforitshearty,meat-heavydishes,alongsidemodern-inspiredrestaurantsofferinghighqualitycuisine.
• VegetarianoptionsinPragueareexcellent,providingdeliciousalternativestomeat-basedmeals.
• Czechsweettreats,reminiscentofAustrianclassics,includecurddumplings,pancakes,buchtel,andgolatschen.
• Trdelník,apopularpastryfromSlovakia,isamust-trytreatinPrague.
• TheCzechRepublicisconsideredthebeerworldchampion,withCzechbeerbeingthemostpopularandhighlyregardedbeerintheworld.
Pragueoffersadiverseculinaryexperience,whetherenjoyingaheartymealorapintofbeeratoneofitsmanypubs.Cheers togoodfoodandgreatcompanyintheheartofEurope.
Concludingthisjourney,ImustsaythatalothaschangedfrommytimeinthisCityofaHundredSpires.Thestreetsare morevibrantandcolorfulnow Thesmellwhenpassingbythecoffeeshopsandlocalcafesisdifferent.Thesunsetsabit earlythesedaysthroughthetallbuildingsinPrague.
However,thecitystillfeelsthesameaswhenIspentcountlesssleeplessnights,wonderingwithmyshadows.Thiscitygave methewarmththatsilencedthecrowdedmarketofthoughtsinmymind.Iwasthesamemanstandinginthequeuelike others,movingtowardsnothingness.However,thisCityofaHundredSpiresgavemeandmystoriedwingstosurvive,even today,yearslater.
So,dearreader,shouldyoueverfindyourselflostinthelabyrinthoflife,remembertolookup.Youmightfindthelightthat leadsyou,bornnotfromtheabsenceofquestionsbutfromthecouragetoaskthem.“ThisisPrague,theplacewheremy storiestakeflight.”
Whilewriting“AHungryArtist,”Iwasconsumedbythethoughtthateveryartistisaselfish fraud,evenreadytodieoutofhungerinthenameofart.MaybeitwasmethatItriedtoportray throughthisstory.However,thatwon’tbethecaseforyou.Ihaveputtogetherallthebestplaces tofeedyoursoulwithvibrantflavorsinthiscityofahundredspires.
Beforedivingintothestepsfor StartYourBusinessfromScratch, it’scrucialtounderstandthree foundationalprinciplesthatcan significantlyimpactthejourney ahead.
1.BuildinPublic
Theconceptofbuildinga businessinthepubliceyeis becomingincreasinglypopular amongentrepreneursforgood reason.Thisapproachinvolves sharingtheprocessofbuilding yourbusiness,includingthe challengesfaced,successes achieved,andlessonslearned alongtheway
Thetransparencyandhonestyin sharingyourjourneycreatea narrativethatpeoplecanfollow, relateto,andsupport.Asyou documentandshareyour progress,younaturallystartto buildanaudiencethatnotonly followsyourjourneybutalso beginstotrustandappreciatethe valueyouprovide.
Thistrustisacornerstoneofany successfulbusinessasitopensthe doortomonetization opportunitiesdowntheline. Moreover,thisaudiencebecomes asupportivecommunitythatcan offerfeedback,encouragement, andconnections,allofwhichare invaluableresourcesfora buddingentrepreneur.
Thekeytosuccessfullybuilding inpublicistoconsistently providevaluethroughyour content,ensuringthatyour audiencefindssomething beneficialineveryinteraction withyourbrand.
2.ProvideValueFirst
Theprincipleofprovidingvalueupfront,without theimmediateexpectationofreturns,isa powerfulstrategyinthemodernbusiness landscape.Thismindsetshiftsthefocusfrom makingquicksalestobuildinggenuine relationshipswithyouraudience.Byprioritizing theadditionofvaluetoyouraudience’slives, youestablishyourselfasacredibleand trustworthysourceofinformation,products,or services.
Thistrustiscrucialforlong-termsuccessasit fostersloyaltyamongyouraudience,making themmorelikelytosupportyourbusinesswhen monetizationbecomesafocus.Providingvalue firstcantakemanyforms,fromofferingfree resourcesthatsolveaproblemtosharing insightfulcontentthateducatesorentertains. Whateverthemethod,thegoalistoengageyour audienceinawaythatenrichestheirlives, therebynaturallyattractingafollowingthatis genuinelyinterestedinwhatyouhavetooffer
3.TargetaMarketYouCareAbout
ChoosingamarketbeforeStartYourBusiness fromScratchthatresonatespersonallywithyou isessentialformaintainingmotivationand creativityoverthelonghaul.Whenyouhavea genuineinterestandpassionforyourtarget audience,theworkyoudofeelsmoremeaningful andlesslikeachore.
Thispassiondrivesinnovationandperseverance, especiallywhenfacedwiththeinevitable challengesofentrepreneurship.Byunderstanding andcaringdeeplyforyourmarket,youcancreate products,services,andcontentthattrulymeet theirneedsanddesires,whichisarecipefora successfulandfulfillingbusiness.
Additionally,workingwithinamarketyouare passionateaboutallowsyoutoleverageyour uniqueinsightsandexperiences,givingyoua competitiveedge.Theenthusiasmyouhavefor yourmarketiscontagious,helpingtoattractand retainadedicatedaudiencethatsharesyour interestsandvalues.
Embarkingontheentrepreneurial journeyfromscratchisbothan excitinganddauntingtask.Withthe rightmindsetandastrategicapproach, it’sentirelypossibletobuildathriving businessfromthegroundup.Here’san expandedlookatthefivepractical stepstotakewhenStartYourBusiness fromScratch,keepinginmindthe foundationalprinciplesofbuildingin public,providingvaluefirst,and targetingamarketyoucareabout.
Thefirststepinvolvesidentifyingand acquiringaskillthatisindemand withinyourchosenmarket.Thisskill shouldbeonethatyoucanlearn, master,andeventuallymonetize.Skills suchasvideoediting,graphicdesign, andcontentwritingarehighlysought afteracrossvariousindustriesandcan serveasasolidfoundationforyour business.
Theobjectivehereistoselectaskill thatnotonlyaddressesaspecificneed withinyourmarketbutalsoalignswith yourinterestsandstrengths.This alignmentensuresthatyouremain motivatedandengagedasyoudevelop yourexpertise.Engaginginonline courses,workshops,andhands-on projectsareeffectivewaytoacquire andhonethechosenskill.
Withamonetizableskillinhand,the nextstepistoofferyourservicesfor free.Thisapproachiscrucialfor buildingyourportfolio,gainingrealworldexperience,andestablishing yourreputation.Offeringyourservices atnocostinitiallyallowsyouto demonstrateyourvalueandpotential toclientswithouttheimmediate pressureoffinancialtransactions. Additionally,itgivesyouachanceto betterunderstandtheneedsand preferencesofyourtargetmarket, whichisinvaluablefortailoringyour offerings.Duringthisphase,it’s essentialtoseekfeedbackanduseitto refineyourskillsfurther.
Anintegralpartofofferingyour servicesforfreeisdocumentingyour journey.Sharingyourexperiences, challenges,andvictoriesthrough blogs,socialmedia,orYouTubenot onlyhelpsinbuildinganaudiencebut alsoinestablishingyourcredibilityand expertiseinthefield.This documentationprocesscreatesa narrativethatpeoplecanconnectwith, makingyourbusinessmorerelatable andtrustworthy
Afteryou’vebuiltasubstantial portfolioandgainedsomeexperience, thenextlogicalstepistostartcharging foryourservices.Settingcompetitive pricesthatreflectthevalueyoubring tothetableiscrucialatthisstage.A strongportfolio,coupledwith testimonialsfromthoseyou’veworked withforfree,willserveaspowerful toolsinattractingpayingclients.
Continuetodocumentyourjourney, offeringinsightsintohowyou’re transitioningfromofferingfree servicestopaidwork.This transparencycanhelpothersfollow asimilarpathandfurthersolidify yourreputation.
Step4:ProductizeYourService
Transformingyourserviceintoa productisasignificantmilestonein thebusiness-buildingprocess.This transformationcouldinvolve creatingpackagedofferings,and courses,orevendevelopinga subscriptionmodel.
Productizingyourservicesimplifies thepricingstructure,enhances profitability,andfacilitatesscaling. Itallowsyoutoreachmoreclients efficientlywhilemaintainingthe qualityofyourservice.Consider whichaspectsofyourservicecan bestandardizedandhowyoucan offertheminawaythatmeetsyour client’sneedswhilealsoallowing forcustomizationwhennecessary.
Step5:HirePeople
Asyourbusinessbeginstogrow andthedemandforyourservices increases,hiringbecomesan essentialsteptoStartYourBusiness fromScratch.Whetheryou’re bringinginfreelancers,part-time employees,orfull-timestaff, expandingyourteamallowsyouto delegatetasks,focusonstrategic areasofgrowth,andensureyour businesscanoperatewithoutyour constantinvolvement.
Thisstepisaboutbuildingasystem thatsupportsyourbusiness’slongtermsustainabilityandsuccess.It’s alsoanopportunitytocultivatea culturethatreflectsyourvaluesand vision.
Kellogg's Breakfast Mate was a breakfast product introduced by Kellogg's, a renowned food company known for its cereal and snack offerings. Breakfast Mates aims to provide consumers with a convenient and quick breakfast solution, ideal for busy mornings or on-the-go lifestyles. The product typically consisted of a combination of ingredients such as cereal, fruit, nuts, and yogurt, packaged together in a single serving container. With its promise of convenience and nutrition, Kellogg's Breakfast Mates entered the market as a potential solution for consumers seeking a hassle-free breakfast option.
Launch Year: 1998
Discontinued Year:
Company/Parent Company:
Price:
Competitors: Total Invested Amount in Marketing:
Kellogg $1.29 Honey Nut Corn Flakes, Cereal Clusters, Crispy Muesli, and Fruit & Fibre $30 million
3. 2. 1.
Kids can prepare breakfast for themselves and they do not have to depend on their parents.
A ready-to-eat perfect snack during any time of the day. Due to increased working hours of the day, many people in the U.S. do not get enough time to make food for themselves. So Breakfast Mates would have been an easy choice for them.
Competing with the fast-food industry. People do not have any choice but to eat highly nutritious food when it comes to the fast-food industry. However, Breakfast Mates offers a healthy and ready-to-eat option to kill your starving and not compromise on nutrition.
Kellogg’s Breakfast Mates included four popular brands: Corn Flakes, Fruit Loops, Mini Wheats, and Frosted Flakes. Along with a container of aseptically packaged milk [no refrigeration required] and a plastic spoon, Kellogg placed the product in the refrigerator dairy section besides yogurt, Jell-O pudding, and other refrigerated desserts. It was perceived by the company that most Americans eat cereals by pouring milk over cereal so they will welcome the Breakfast Mates.
Why did Kellogg’s Breakfast Mates fail in the market?
Kellogg’s started marketing its products through various advertisements in which the company promoted its nutritional value for kids as well as adults. Having a breakfast that consists of high nutritional value was the Unique Selling Point (USP) of Kellogg’s. However, this USP failed when the company launched a new product named Breakfast Mates which came along with cereal, milk, and spoon in it. Due to a lack of market research and understanding of customer choices, the product couldn’t reach up to the mark. According to studies, the following factors were responsible for its failure:
Factor one: Warm Milk. Yes, though we eat cereals with milk, many customers did not like the idea of eating cereals with warm milk. Each container of milk was ‘aseptically packaged,’ it didn’t need refrigeration.
Factor two: As it was reected in the advertisement, the idea of opening the package was not that easy. The advertisement showed that children open Breakfast Mates package when their parents are asleep, however, it couldn’t be the same. The product wasn’t child-friendly.
Factor three: Consumers found Breakfast Mates too expensive and competitors like Nestle, Quaker, etc. offered better choices. Its retail price ranged from $1.39 to $1.69 depending on the retail store. Combining milk with cereal is considered as Kellogg’s move to enter into the dairy industry.
Factor four: Breakfast Mate was re-educating people on how to eat milk with cereal when consumers were not ready to buy milk in the same package of cereal. However, people expect to have cold milk with cereal of their own choice.
Factor ve: Many Americans who have tried eating aseptically packaged milk were not satised with the taste. Some of them had given reviews that the milk’s taste was burnt. Targeting the wrong audience can prove to be a disaster for any company.
Factor six: Breakfast Mate had portable packaging so that children who live away from home can have it. It could be kept in a lunchbox, suitcase, brown bag, etc. However, the problem was that milk can get warm at room temperature which changes its taste.
Factor seven: Packaging and Portion Size Issues: Packaging that did not appeal to consumers or portion sizes that were deemed inadequate or excessive may have contributed to dissatisfaction with the product.
Factor eight: Distribution Network Issues: Issues with the distribution network, such as logistical problems or inefciencies, could have hindered the product's reach to target markets.
After one year of experimentation, Kellogg decided to dismantle Breakfast Mate in 1999 and announced that it would stop production. Cereal, milk, and spoon were not just needed to make the launch successful and only one parameter can prove a fatal mistake. There are few lessons new food companies can learn from the mistakes of Kellogg:
Ÿ For any food and beverages company, it is important to do deep research which helps to understand customer choices and preferences. For example, Kellogg's failed miserably in its initial move into the Indian market because the company showed how Indian breakfast is harmful to health.
Ÿ Do not try to confuse the customers. Adding milk with cereals did not offer anything new but showed that the combo would be easy to eat. Through the advertisements, Kellogg was implying that it is needed to store in a refrigerator.
Ÿ Selling the brand in the right place. Selling cereal was the main agenda rather than anything else, however, including milk in the Breakfast Mates was a bad decision as where will you exactly nd it on the shelves of the supermarket?
Ÿ Being best in at least one thing. It is an important lesson that can be learned from Kellogg’s failure of Breakfast Mates. Focusing on a single product is more essential than combining both of them in a single package.
Ÿ If you are introducing something new in the market, keep the price low. Why will a consumer prefer to try a new product by paying more than the usual one?
By learning from Kellogg’s mistakes, we hope you have received important insights. The company soared high and achieved new milestones in the market and never looked back. The next time you are shopping at the supermarket and watching different avors of Kellogg’s, do not forget to buy it separately and not with the milk.
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