Tips for Building a Strong Professional Network

A strong network can help you uncover new opportunities for career advancement, business partnerships, collaborations, and personal growth. Moreover, a good network connects you with people from different backgrounds and industries; you can tap into a wealth of expertise and insights. Be it in an educational space or professional arena, each one of us must know how to make more connections that have the potential to bring about advancement opportunities.

Let’s talk a little more about it in detail.

Why is building a network important?

Here are a few top reasons why networking strategies are important:

  1. Resume review and suggestions from industry professionals

Industry professionals who have experience hiring and reviewing resumes can provide you with objective feedback on your resume. They can offer insights on how to better tailor your resume to the specific industry or job you’re applying for, and identify areas where you can improve.

  1. Information about new job opportunities

This is another huge purpose of networking. By connecting with people who work at companies you’re interested in, you can learn about job openings before they are advertised publicly. This can give you a head start on the competition and increase your chances of getting hired.

  1. Information about trending skills that must be acquired

Your connections can provide you with valuable insights into the latest trends, technologies, and best practices in your field. For example, when I meet freshers or even professionals looking to upskill, I suggest them to get certified with ICBI’s soft skills training course because I know soft skills training is critical for everything from interviewing and working with professionals to managing a team or an entire company. Similarly, experts from different industries can guide you on which skills can give you a competitive edge as per industry requirements.

  1. Discovery of changes in an industry

Industry insiders have their finger on the pulse of the latest developments in your field. These connections can provide you with valuable insights into changes that are happening in your industry so you can continue updating your profile and skills.

  1. Work improvement recommendations

Networking gives you the opportunity to receive feedback on your work from industry professionals. This feedback can help you identify areas where you can improve. Moreover, you can also get some valuable recommendations to make improvements in the right direction.

Tips for Building a Network

Now comes the important question – how to make more connections that add value to your career? We have some super important tips:

  1. Set networking goals

Start by clarifying your objectives for networking. Are you looking for a new job? Do you want to learn about new skills or technologies? Do you want to expand your professional network? Identifying your objectives can help you focus your networking efforts and set meaningful goals.

  1. Craft a convincing pitch

An elevator pitch can make or break the game. So, begin your pitch with a compelling hook that grabs the listener’s attention. After this, highlight the value you bring to your industry or profession. And finally, state your objective for networking and make a clear request for how the listener can help you achieve your goals.

  1. Reach out to your current connections

Your former classmates, colleagues, mentors, etc., can help you connect to the right people and expand your network in the right direction. All you need to do is reach out to them and ask for being connected to people who may benefit you. Common links like these can be useful and help you enter fruitful networks quickly.

  1. Join local and national organizations

Joining an organization can be a great way to meet other professionals in your field and learn about the best practices and trends. So, join a relevant organization and consider volunteering for a committee or project. This can be a great way to build relationships with other members and demonstrate your skills and expertise.

  1. Use social media to build connections

Using social media is an easy yet effective way to build connections. LinkedIn, Twitter and Facebook are great examples. You can engage with the content posted by the accounts you follow. Also, make sure to like, comment, and share their posts, and participate in online discussions. This can help you build relationships with other professionals in your industry and establish yourself as an active and engaged member.

  1. Attend industry events

Meet ups and networking events are a great way to connect with professionals in your industry who share similar interests. Similarly, attending conferences and trade shows related to your industry can help you meet new people. So, make sure to keep an eye out for such events.

Conclusion

Students can get internship and job opportunities through their networks. Similarly, professionals can get career advancement opportunities through their connections. So, make sure to keep expanding your network with the right people who can support you in some way or the other in your professional journey.

John Miniotis: An Inspiring Emblem of Excellence, Dedication, and Dynamic Leadership in the Mining Industry

Here is the inspiring journey of John Miniotis, the President and CEO of AbraSilver Resource Corp. With his extensive experience of over 18 years in the mining industry, he is now spearheading AbraSilver into an industry-leading exploration company and aiming to continue to take the company to new heights. Mr. Miniotis’ background has primarily focused on mergers & acquisitions, equity capital markets, investor relations and corporate finance, and he has worked in a wide variety of companies in the mining industry including Lundin Mining, AuRico Metals, Aethon Minerals and Barrick Gold. Mr. Miniotis holds the title of Certified Financial Analyst and graduated with honours from the University of Toronto with a degree in business administration.

Achievements & Accomplishments Along the Way

With his extensive experience in mergers and acquisitions, Mr. Miniotis became CEO of AbraSilver in December 2019 through the merger of Aethon Minerals. The merger was an excellent opportunity to create a company focused on a world-class silver and gold project with excellent exploration upside potential. Since the merger, AbraSilver has established a proven track record of consistently delivering drill results that are among the best in the industry, which has allowed the company to experience rapid growth.

Prior to Aethon Minerals, he was the vice president of corporate development at AuRico Metals where Mr. Miniotis was instrumental in the company’s acquisition by Centerra Gold which purchased AuRico in January 2018 for $310 million in cash.

Mr. Miniotis also played a crucial part in Lundin Mining’s execution of many acquisitions totalling more than $2 billion, which helped the business grow in an accretive manner. The driven leader is constantly searching for fresh possibilities to generate value and increase shareholder value.

AbraSilver in a Glance

AbraSilver is an advanced-stage exploration company focused on rapidly advancing its 100%-owned Diablillos silver-gold project in the mining-friendly Salta province of Argentina. The business is run by a seasoned management team, and Mr. Eric Sprott is one of its long-standing, devoted stockholders. The silver-gold project hosts Measured and Indicated resources of 109 million ounces of silver and 1.3 million ounces of gold, with significant further upside potential based on recent exploration success. The company also holds a portfolio of copper-gold properties, including the La Coipita copper-gold project, which is an earlier-stage exploration company. The company is publicly traded, under the ticker “ABRA” on the TSX-Venture and “ABBRF” in the United States.

John’s Unique Definition of Success

Mr. Miniotis recognizes that success can mean many different things to different people, but for him, success can be defined as the act of turning a vision into reality, by means of perseverance and in spite of failure.

A Piece of Advice by John Miniotis to Aspiring Entrepreneurs

“Never give up! If you are passionate about realizing your dream or entrepreneurial vision, then it’s just a matter of time, hard work, and —most importantly—resiliency before that vision becomes reality.”

The Future Outlook

AbraSilver’s objective is to see the Diablillos project develop into a top-tier producing silver-gold mine over the course of the next five years. The stockholders, the local communities, and the provincial and federal governments of Argentina will all greatly gain from this. The company will also keep looking for new opportunities to expand its business in nations with favourable mining laws.

Before signing off, Mr. Miniotis reflected on the lessons learned from his experiences in the business world:

“Life has taught me that success is not always linear, therefore learn from your failures and re-calibrate your approach. It also does not occur in a vacuum – surround yourself with the right people and most importantly, don’t forget to enjoy the journey!”

Ray Singh: Remarkable Journey with Russell Finex

Our mission is “Customer Trust. A Russell Must” We want our customers to trust us in everything that we do and know that we are there to support them, asserted Mr. Ray Singh.

Ray Singh is a successful business leader who has been described as a pertinacious visionary leader, inspirational persona, innovative entrepreneur, and many other terms. He is a prominent and renowned leader with an extensive 43-year career and substantial expertise in the industry. In 2011, he was appointed as the Managing Director of Russell Finex, and since then he has proven his extraordinary competencies in enhancing the business’s performance, where revenue generation and market expansion come effortlessly. Under his direction, the group’s revenue has virtually tripled, and its profits have increased sixfold. The company has recently launched subsidiaries in China and India, and it is planning to do the same in Brazil.

In academics, Ray Singh has a Mechanical Engineering degree (B.Sc. ), and after his studies, he began working in an engineering capacity. After working for the company where he was employed for approximately a year, he started to become bored and started looking for other technical jobs. Later, he found a desk-based sales clerk position with Russell Finex, which he accepted with the idea that it would be a stopgap until he could find another “real” engineering position. He entered a commercial setting thanks to the sales clerk position. At that time, a US company producing high-speed mixers and bead mills had just sold Russell Finex the rights for Europe and Africa. He was a qualified candidate to manage this product line for the firm, given that these were technological products and he had engineering training. He was rapidly promoted to a technical sales position on the front lines.

Further explaining his professional journey, the remarkable man explained, “Growing up, I always wanted a job that allowed me to travel abroad. This was ideal for me because I got to travel, put my engineering expertise to use, and have an enjoyable commercial engagement. Before being promoted to various sales management jobs, I served the company in a variety of capacities over the years. I was appointed to the Board of Directors in 1997 as Group Sales and Marketing Director to oversee our global sales and marketing activities as well as our subsidiaries in the USA and Belgium.”

Russell Finex Ltd., Delivering Custom-built Solutions

Russell Finex, a leader in the production of sieving and filtration technologies, was founded in 1934. It was envisioned to be the preferred supplier of choice for sieving and filtration equipment in all of the markets that they serve. They have a global presence, with headquarters in the United Kingdom and subsidiaries in the United States, Belgium, India, and China. More than 140 nations across the world receive the equipment. In addition to having the broadest selection of sieving and filtering equipment in the business, Russell Finex takes pleasure in delivering the client custom-built solutions that are tailored to their specific needs. They guarantee and enhance the reputation of businesses in nearly every process industry around the world, from food and beverages to pharmaceuticals and metal powders, and have supplied household names like Nestlé, Heinz, and Unilever.

Overcoming the Hurdles Along the Way

Within this competitive business, the past several years have unavoidably brought their share of difficulties. Over the years, they have faced various challenges, including the unpredictable effects of COVID-19, Brexit, and a wide range of other challenges. But they have persevered through adversity that defies success. Despite the difficulties that the future may bring, they have been able to maintain exceptional levels of growth throughout these periods, and they hope to keep doing so.

Healthy Work Culture at Russell Finex

The company’s operations put teamwork and a positive workplace culture first; after all, without those two things, they would not be where they are now. They are adamant that teamwork is essential for achieving their goals and objectives because it not only enhances productivity but also innovation and creativity. This enables the sharing of fresh concepts and motivation within the company. Similarly, a healthy work environment and growth mentality are fostered by a positive work culture, which is vital for team morale. At Russell Finex, they uphold this by offering chances to learn and develop in a supportive environment that encourages a can-do mentality.

Diversity and Inclusion at Russell

Ray Singh and his team pride themselves on the diversity and inclusion that is evident throughout the workplace. Having a work environment filled with exceptional people from diverse backgrounds, experiences, and skills brings forward a unique set of creative and innovative ideas that wouldn’t have been able to be achieved otherwise. The range of skills present at the company allows a wide variety of different perspectives and viewpoints to be brought together, whether it’s for the purpose of brainstorming, problem-solving, or developing new ideas for a common goal.

“What makes us so successful in this profession today is our emphasis on togetherness despite our numerous variances”, quoted Ray Singh.

Road Map to Moving in the Future

“Our plans include increasing our global footprint as well as continuing to bring the most innovative products in our field to the marketplace. I would expect us to be fully established in Brazil and have our own entity in Southeast Asia. Since my personal and professional lives are so intertwined, this would also be a personal victory for me”, shared the inspiring leader when being asked about his future plans.

The Pearls of Wisdom by the Visionary Leader

I would say, that you should have a vision and a goal. Back that up with a plan for how your goal is going to be achieved, and then make sure it is implemented with a clear action plan. Make sure you are in an upward cycle of investment for growth, and keep an eye out for regulated sustainable growth. Do not be discouraged by the knocks and bumps you may encounter along the way. Review your strategy on a regular basis; if it is sound, as well as your action plan, rewards will follow.

If times get tough, the tendency is to cut sales and marketing budgets first. This happens all the time and it’s the last thing you should do. You reduce your opportunities, and your business suffers if you do not invest in these areas. This will result in a downward spiral because if sales fall, you will need to make more cuts, and your business will suffer as a result.

Many younger people who have joined our organisation throughout the years have questioned me about what their future is in the organisation. I constantly assure them that they can have any future they want. It is in their own hands, not mine. Never turn down an opportunity, as it may not come again. It is a way to learn and become a more rounded person. Work hard and smart, and the opportunities will come!

Chiara Longhi: Leading with Grace, Grit, and Purpose

Chiara Longhi is the Innovation Principal Lead at Amazon Web Services (AWS) and has significant expertise in assisting enterprises in their innovation and transformation journeys. In her role, Chiara helps executive leaders across Asia, the Pacific, and Japan develop and launch innovative solutions that prioritize customer-centricity. Chiara also serves as an Amazon Bar Raiser and has evaluated almost 400 candidates during her time in the company.

Chiara’s passion for technology and international markets led her to live and work across the United States, Asia, and Oceania for the past 12 years. Before joining the AWS Innovation team, she was part of the team that helped launch Amazon in Australia in 2017 and Singapore in 2019. Previous to that, she worked for LinkedIn, based out of Hong Kong, supporting the business’ expansion across Japan and Korea. Chiara began her career in tech at AOL after earning her Economics Bachelor’s degree from Bocconi University, and her Master’s degree from New York University.

Chiara’s passion for innovation has also led her to establish the Moonshot Company, a tailored program that aims to enable people with the knowledge and tools they need to unleash their potential and reach their goals: from helping individuals land their dream job through 1-1 coaching, interviewing tips and resume reviews, to advising professionals and businesses on topics such as emotional intelligence for leadership and success, product strategy and customer-centricity innovation.

Recently we got an opportunity to sit down with Chiara to learn how she and her team are changing the world for the better.

Below are the highlights of the interview.

Q) How do you motivate creativity and innovation while maintaining a healthy work environment?

Chiara) They can absolutely co-exist, and I think they actually fuel each other! The healthier your environment is, the greater your abilities to be creative and innovative will be. The first step is to be intentional about prioritizing your well-being rather than working for and backwards from deadlines. I personally need a good dose of energy and a healthy one of stress as well to operate at my best. Multiple studies have actually shown how the sweet spot for an innovative mindset is that middle energy/middle-stress area: too little stress/ energy has a great chance of making you bored, and overly high stress/energy brings you into that wanky phase..both are not ideal when you are trying to encourage creativity. So my tip is to find what gives you energy (for me is spending time outdoors, exercising, and having quality time with loved ones), establish an ambitious but realistic plan, and then..kick it off! Something very important that I have learned at Amazon is the importance of being stubborn on the vision but flexible on the details. Not everything will work out exactly as you imagined it first, and that is not a bad thing. If you believe in your idea, don’t give up on following your north star, but be flexible in how you will get to it.

Q) What are the major challenges of the industry, in your opinion? How are you tackling those?

Chiara) When it comes to corporate innovation, the most common blocker I have noticed is actually not really linked to resources, funding, or technology limitations- it actually comes from the company culture. A company culture that hires talent but then doesn’t develop it, or doesn’t really enable and incentivize employees to experiment and innovate, will most likely struggle to bring any creativity or innovation out there. And company culture goes well beyond the free lunches, playful offices, or benefits businesses might offer their employees. Company culture starts with the type of talent an organization hires, the investment and commitment they show in developing and nurturing that talent, and the ability to create a safe environment where people are not scared to experiment and maybe fail, but are actually expected to do so.

When it comes to individuals trying to achieve their goals, the two common blockers I have noticed are impostor syndrome and fear of failing, and they both bring people to simply..never giving it a try. I always try to remind people that even if you try and don’t succeed, you are not failing, you are learning. There is a quote from Michael Jordan I love- “sometimes you win, sometimes you learn”. I wish more people could turn this into their personal mantra- I am sure we would have so much more innovation around us!

There are plenty of other challenges, but these are surely the top ones from my point of view based on the insights I gathered in years working directly in this field.

Q) What are your mission and vision? And what would be the best roadmap to achieve that?

Chiara) My mission is to enable as many individuals as possible to unleash their potential and get to what makes them fulfilled, but also provide actual tools and mechanisms for them to do so. I am a huge believer that real enablement occurs when after some time, people don’t need you anymore. It is very important to inspire and motivate others, but you need to provide people with actual tools, so they can proceed in their growing journey once you leave the room. A huge part of my mission involves helping corporations as well, as they are ultimately conglomerates of individuals and such key players in people’s life. We spend 70-80% of our time at work ( if not more)- if more individuals and businesses can master their ability to be creative and innovate while also thriving in doing so, it will genuinely be a better place for all of us.

Q) What milestones and achievements are you most proud of?

Chiara) The launch of Amazon.com in Australia has probably been one of the most incredible chapters of my professional experience. I remember when I first was contacted for the role, they couldn’t share many details about it due to its confidential nature. So they flew me to Sydney from Hong Kong to meet with the interview panel, and that is when I signed an NDA and was able to get a better understanding of it all. A couple of weeks later, I was getting ready to move with a one-way ticket to Australia, which was in itself something that had never been in my plans. The first few months on the job were pure adrenaline- it was only a few of us, and we often worked around the clock. That period was so tiring, and yet you could see how much we all were loving it: we were energized, motivated, inspired by each other, and definitely felt we were all in this journey together as a team, all thriving for a much bigger purpose. Being able to then re-live a similar experience couple of years later with the launch of Amazon in Singapore made it even better, as it allowed me to look at that launch with a much more “focused” (and also less stressful) approach.

Q) What would you like to be remembered for by your peers?

Chiara) I hope I will be able to be remembered as somebody that never compromised on their values for the sake of easier or faster success. A courageous leader that was able to show up in the moments that mattered. I hope I will be remembered not just for my achievements but also for the ethic, respect, and humanity I carried throughout their pursuit. And lastly, with themoonshotcompany.co, I hope I’ll be able to broaden my own legacy, having positively influenced the path of thousands of others.

Q) What are you looking to accomplish in the next 5 years from a personal as well as professional point of view?

Chiara) There is some big news coming up on both fronts- I am an extremely superstitious person, so I tend not to speak about anything until I see it live! But you can follow/reach out to me on Linkedin or visit chiaralonghi.com to be up to date!

Explore the World of Relaxation: The Best Spa Resorts to Indulge in Across the Globe

The world-class spa resorts provide exceptional services, where skilled therapists utilize premium products and techniques to induce relaxation, healing, and rejuvenation. Each spa offers a wide range of luxurious treatments and services to promote the same, using only the best quality products and techniques available. The spa experience guarantees to deliver exceptional treatments and services that relax, revitalize, and heal the mind, body, and soul.

The Ranch Malibu

California, United States

The Ranch Malibu is a premier spa resort situated in Malibu, California. This luxurious retreat is known for offering a transformative spa experience that combines physical activity, healthy eating, and mind-body practices. Founded in 2010 by Alex Glasscock, The Ranch Malibu’s holistic approach to wellness aims to help guests achieve optimal health and well-being naturally and sustainably. The spa provides guests various treatments and services, including massage, bodywork, facials, and detoxification.

Deep tissue massage is one of the most popular treatments at The Ranch Malibu. This therapeutic massage targets the deeper layers of muscle and fascia, releasing tension and promoting relaxation. Other popular treatments include hot stone massage, reflexology, and lymphatic drainage massage, all designed to promote relaxation and healing.

The spa also offers a range of body treatments, including body wraps, scrubs, and detoxifying clay masks. These treatments use natural ingredients to nourish and rejuvenate the skin, leaving guests feeling refreshed and revitalized.

Facials are another popular service at The Ranch Malibu spa, with treatments that address various skin concerns. From anti-aging facials to acne treatments, the spa’s experienced estheticians use high-quality products to promote healthy, glowing skin.

The Ranch Malibu offers guests holistic therapies, including acupuncture, reiki, and sound healing, to promote relaxation and reduce stress. The spa facilities are top-notch, featuring private treatment rooms, a steam room, and a relaxation lounge.

The Ranch Malibu spa resort is a must-visit destination for those seeking a holistic approach to wellness. Guests can enjoy the outdoor pool and hot tub while enjoying the stunning views of the surrounding hills and ocean. The resort’s luxurious accommodations and world-class spa services provide a transformative experience that recharges and rejuvenates the mind, body, and soul.

Lake Austin Spa Resort 

Texas, United States

Lake Austin Spa Resort is a luxurious retreat located on the shores of Lake Austin, Texas, offering guests a peaceful and rejuvenating getaway. With a focus on wellness and top-notch spa services, it is the perfect destination to relax and recharge amidst a stunning natural setting.

The spa at Lake Austin Spa Resort is the resort’s centerpiece, offering guests a range of treatments and services to relax, heal, and rejuvenate. They provide treatments which are Texas Two-Step, the Hill Country Escape, and the Ultimate Texas Starry Night. The spa also offers a variety of skin care treatments, including facials, peels, and body wraps, using high-quality products to address various skin concerns.

The Lake Austin Spa Resort also offers a range of fitness classes and activities, including yoga, Pilates, and water aerobics. The resort’s fitness center is equipped with state-of-the-art equipment, and guests can take advantage of the resort’s hiking and biking trails, as well as its kayaks and stand-up paddleboards.

The Lake Austin Spa Resort is a wellness-focused destination that offers guests various spa and fitness services and nutrition and wellness programs. The resort’s culinary team uses local and organic ingredients to create delicious and healthy meals, while guests can participate in cooking classes and nutrition workshops.

The accommodations are luxurious and comfortable, with lake views, private balconies, and plush bedding. The serene setting and peaceful atmosphere make it the perfect place to relax and unwind. Overall, the Lake Austin Spa Resort offers a transformative experience that rejuvenates the mind, body, and spirit, making it a must-visit destination for anyone seeking wellness and escape.

Chiva-Som

Hua Hin, Thailand

Chiva-Som is a world-renowned spa resort in the coastal city of Hua Hin, Thailand. Established in 1995, this luxurious retreat is set on seven acres of lush tropical gardens and offers guests a unique and rejuvenating spa experience that is both holistic and transformative.

One of the most popular treatments at Chiva-Som is the Thai massage, a traditional massage that combines stretching and acupressure to release tension and improve circulation. Other popular treatments include the Chiva-Som Signature Massage, a unique blend of Thai and Swedish massage techniques, and the Aromatherapy Massage, which uses essential oils to promote relaxation and balance.

Chiva-Som is a world-renowned holistic spa resort that promotes wellness and relaxation. The resort’s top-notch facilities include private treatment rooms, a sauna, and a relaxation lounge, while the luxurious accommodations offer stunning views of the Gulf of Thailand. They provide traditional Thai massage facials and holistic therapies like acupuncture and yoga. Overall, Chiva-Som provides guests with a transformative experience that promotes physical, mental, and spiritual well-being.

Coworth Park

Berkshire, UK

Coworth Park is a luxurious spa resort located in the beautiful countryside of Berkshire, England. Surrounded by 240 acres of picturesque parkland, the resort offers guests a tranquil and rejuvenating escape from the hustle and bustle of everyday life.

The popular treatments are the Coworth Park Signature Massage, Coworth Park Bespoke Facial, and Coworth Park Foot Ritual. The spa also offers body treatments such as wraps, scrubs, and mud wraps that use natural ingredients to nourish and rejuvenate the skin.

In addition to the spa services, Coworth Park offers a range of fitness classes and activities, including yoga, Pilates, and cycling. Guests can also take advantage of the resort’s outdoor tennis court and equestrian center, which offers horseback riding lessons and trail rides through the parkland.

The accommodations feature plush bedding, marble bathrooms, and beautiful views of the surrounding countryside. The dining options are also top-notch, with two restaurants that serve delicious and healthy meals using locally-sourced ingredients. Overall, Coworth Park is the perfect destination for anyone looking to enjoy luxury and relaxation surrounded by nature.

Six Senses Kaplankaya

Turkey

Six Senses Kaplankaya is a luxurious spa resort located on the stunning Aegean coast of Turkey. Set amidst 250 acres of untouched natural beauty, the resort offers guests a tranquil and rejuvenating escape from the stresses of modern life.

Popular treatments include the Signature Six Senses Massage, the Six Senses Kaplankaya Hammam Experience, and the Six Senses Kaplankaya Hot Stone Massage. In addition to these treatments, the spa offers body wraps, scrubs, and detoxifying clay masks that use natural ingredients to nourish and rejuvenate the skin.

In addition to the spa services, Six Senses Kaplankaya offers a range of fitness classes and activities, including yoga, Pilates, and hiking. Guests can also take advantage of the resort’s outdoor pool and beachfront location, which offer stunning views of the Aegean Sea.

Six Senses Kaplankaya is a luxurious resort that offers a transformative experience for guests. With a focus on wellness and relaxation, the spa offers a range of treatments and services that cater to guests’ needs. The resort’s accommodations are elegant and comfortable, with private balconies and stunning views of natural beauty. The dining options at Six Senses Kaplankaya are also exceptional, with a range of restaurants that offer delicious and healthy meals using locally-sourced ingredients.

Overall, Six Senses Kaplankaya is the perfect place to escape and rejuvenate, offering guests a transformative experience they will never forget.

All five spa resorts are must-visit destinations for anyone seeking a transformative experience that promotes physical, mental, and spiritual well-being.

A Business Startup’s Guide to Getting the Art of Negotiation Right

Negotiating deals is vital for any business startup. Unfortunately, negotiations may seem complex for many startups, as business owners assume there must be a winner and a loser. Although this fact is not far from the truth, it remains that the best negotiations are those that incorporate terms from both parties involved. Win-win situations are thus the way to go. This post discusses five negotiation tips that successful business owners use when negotiating acquisitions, deals, or even partnerships.

Five Tips to Get the Art of Negotiation Right

Although there is no one-size-fits-all strategy to get negotiations right, here are five tips to help you negotiate like a pro.

Clearly State Your Intent

A statement of intent sets the tone for what to achieve from the process. Ensure that you put on paper the desirable outcomes. Before entering into any negotiation, first, understand your goals. Once the intentions are set right, you can formulate a strategy to achieve them. Some of the questions to help you get started are:

  • What do you want?
  • Why are you pursuing it?
  • What will make you happy?

Be Prepared Before the Negotiations

Early preparations start with performing research. It makes it easier for you to navigate negotiations. Thorough research is paramount and gives you insight into your counterpart’s needs and objectives. As a business startup, do your homework on the other party. Find out about their interests and objectives. In addition, ensure that beforehand, you are knowledgeable of the subject matter being negotiated. As a startup, this gives you reliable and sufficient information to set realistic goals.

Be An Active Listener

In any negotiation, active listening is a formidable weapon. To master this skill, you need to invest in genuinely listening to your counterparts. They also have their own needs and desires too. When you actively listen, you better understand all the points they are driving at as well as their concerns. Silent pauses can be very beneficial in the process as it allows both parties to take time and reflect on what has been said.

Be Open-Minded and Willing to Compromise

Flexibility translates into a business tact that will, without a doubt, drive business growth. For instance, do not view it as a win-lose scenario. Successful negotiations are those that end with both parties feeling good about the meeting. It is important to remember that sometimes you have to give in order to get. An example is the three-year dispute between Kraft Foods and Starbucks over the distribution of Starbucks coffee in grocery stores. The negotiations ended with legal arbitration, where Starbucks had to pay $2.75 billion for a breach of its agreement with Kraft.

Keep Your Emotions and Ego at Bay

It is common for negotiations to spark heated emotions, and most people easily get frustrated by the process. What differentiates successful entrepreneurs from the rest is their ability to control their emotions during negotiation. Negative displays of emotions can have adverse effects on a business. For instance, anger is a destructive emotion that will likely drive investors away. If the other party is unwilling to make a deal in your best interests, be prepared to walk away rather than argue. In addition, if you find yourself getting emotional, take a break and ask yourself what triggered the emotion.

What Happens If an Agreement Is Not Reached?

Successful negotiations end with a final agreement, and both parties sign a treaty. Thereafter, the real work of building long-term relationships begins. In negotiations, both parties must be able to find common ground, but not all negotiations can reach a favorable agreement. However, there is no cause for alarm if an agreement is not reached. Simply schedule future meetings to conduct the negotiations again. Some tips to prepare for the subsequent negotiations are to review what took place in the previous meeting and critically analyze the concerns of your counterparts.

Bottom Line

If you implement the five tips, you are on your way to mastering the art of negotiation. As a new business startup, without a doubt, your first experience negotiating will be quite challenging. Nevertheless, with practice, you will quickly master the art. Furthermore, by mastering the art of negotiation, you cultivate long-term relationships with your counterparts and set a good foundation for future partnerships.

Author Bio:-

Bite of Ink is a marketer who turned content writer. Based in Nevada, aiming to be a digital nomad. Always loved to write, and I found my perfect job writing about customer journey mapping, designing service touchpoints, service design thinking, service design tools and techniques, co-creation in service design, and service blueprinting. I am also a yoga enthusiast, avid cook, and proud cat lover. My cat’s name is Kiki, and she is a constant source of joy and entertainment in my life. In my free time, I love to explore the outdoors and seek out new adventures.

How To Establish A Successful Transport Startup From Scratch

If you’re thinking of launching a new transport business, it’s a good move. According to stats, the global market size of transportation services is worth USD 7.90 Trillion in 2023. Did you know it is projected to reach USD 15.94 Trillion by 2032? That’s double the size in less than a decade!

You can imagine the growth prospects from these numbers. But starting a new transportation business can be a rollercoaster ride. From massive investment to complex regulations and daunting competition, there may be more challenges than you imagine. You’ve got to ensure you set it up right to avert the dreaded fail.

Lucky for you, we’ve got some tried and tested tips from pros to help set up your new transport venture for success. Here are a few strategies to get in the game and make the most of the opportunity.

Do your research

Before you get started, you must do your homework. A transport business entails a hefty investment, so you must have a solid plan in the first place. Research your competition, check your target market, and find your niche.

Also, identify your competitors and follow them closely to find out what they are doing and what makes them successful. The initial research can give you a head start and help you avoid the challenges on the way.

Get your finances in order

The next step is getting your finances in order, and it is perhaps the most crucial thing to do. The upfront investment is hefty as you need to buy trailers, hire trained staff, and activate a marketing plan. Figure out how much money you require and ensure you have enough to get a decent start.

You can consider options such as loans, grants, or crowdfunding. Once you are ready with the money, create a budget and stick to it.

Build your business

Now comes the real part! Once you have a plan and funds, you need to build your business with the right infrastructure. It includes trucks, trailers, and other vehicles and equipment. You can check pennertrailersales.com to explore the range and empower your business with the right equipment.

In fact, you can even rely on them for repairs, maintenance, and services to keep your business up and running.

Establish a strong brand

Branding is essential in any industry, and transport and logistics are no exception. Your brand is a real asset as it sets you apart from your competition and ensures visibility to your customers. It even helps you add credibility and trust to your startup.

Invest in a strong brand identity by developing a personality with a logo, colors, and taglines. Consolidate your presence with a website, social media profiles, and event promotions.

Utilize technology

Technology can give your transport business a winning advantage from the outset. It may seem like an additional investment, but it is worthwhile. Use software to track your vehicles, manage your fleet, and schedule deliveries.

Consider investing in telematics to keep an eye on your drivers. Leverage online marketing and social media to promote your business and connect with your target audience.

A transport startup requires big money and careful planning. But you can expect immense success with the right approach. Follow these tips to start on the right foot and achieve success. You’ve got it, boss!

What is staking cryptocurrency and why should you try it?

Cryptocurrency staking was a mysterious way to invest in the past, but all that is changing today. This has quickly become a popular route for cryptocurrency investors to make an extra source of passive income while contributing to the security of the blockchain network.

If you’re not familiar with staking, we’ve got you covered. In this blog, let’s take a closer look at what cryptocurrency staking is and why you should consider giving it a try in 2023!

What is meant by staking cryptocurrency in blockchain?

Cryptocurrency staking is the process of holding a substantial number of cryptocurrencies in the digital wallet to be pledged to support the network’s operations. In return, stakers are rewarded with additional cryptocurrency as an incentive. This also helps to validate transactions and maintain the security of the blockchain network. Staking crypto involves choosing a validator, like Kiln.fi, who is responsible for adding transactions to the blockchain. Usually, staking requires a big amount of crypto holdings, but if you cannot individually invest in so much, you can try a staking pool where multiple investors are clubbed by a validator to get the job done.

Is staking a good choice for you?

There are several reasons why an investor could consider staking their cryptocurrency. Firstly, it is a good approach to earn passive income if you’re not in need of immediate liquidity. With staking, you don’t need to actively trade or monitor the markets; simply holding your coins in a staking wallet or with a trusted validator can earn you rewards. Secondly, if you’re a fan of a particular cryptocurrency, you can contribute to the security of the blockchain network by staking your existing coins. The more cryptocurrency that is staked, the more secure the network becomes. By staking your coins, you are actively contributing to the network’s operations and overall security.

Which cryptocurrencies can you stake?

Not all cryptocurrencies can be staked, but many of the most popular ones are available. Ethereum, Cardano, and Polkadot are just a few examples of cryptocurrencies that can be staked by investors. Each cryptocurrency has its own staking requirements, such as a minimum stake amount and staking period. It’s vital to do your homework and pick a cryptocurrency that aligns with your staking goals.

How do you stake cryptocurrency?

To stake cryptocurrency, you need to hold a certain amount of the coin in a staking wallet or on an exchange that supports staking. You then need to choose a validator, which can be done either through the wallet or exchange itself or through a separate staking service. Once you’ve chosen your validator, you can then start earning rewards.

What are the risks of staking?

Before staking, make sure to understand all the risks attached to the market’s volatility. Also, it is essential to do your research and choose a reputable validator with a sustainable track record…

Wrapping Up:

Cryptocurrency staking is a good investing plan if you admire a particular brand of decentralized currency. However, it is always advised to independently research your options and make sure that you would not need these coins for immediate liquidity in the near future. As these are long-term investments, you’ll need to have patience and wait for the results

Are You Liable to Pay Taxes in Metaverse?

The metaverse is becoming an increasingly attractive option for companies looking to expand their digital presence. This new form of the digital world combines gaming, cryptocurrency, non-fungible tokens (NFTs), and virtual reality to create a fully immersive experience for users.

Originally, only companies with a strong digital presence were interested in the metaverse, but now, even retail and fashion brands are exploring the possibilities. They see the potential for increased sales of both digital and physical goods, as well as new advertising opportunities.

However, companies must be aware of the tax implications, including indirect taxes such as VAT and sales tax, as well as potential direct tax consequences. In this scenario, companies can seek the help of specialized crypto tax services to ensure compliance with tax laws, minimize tax liabilities and get valuable insights.

This article provides an overview of some of the high-level tax considerations to keep in mind when entering the metaverse ecosystem.

Challenge with Metaverse Transactions

The emergence of virtual economies in the metaverse raises the possibility of tax implications such as sales tax, income tax, and capital gains, which were initially on online selling platforms like Amazon and eBay. Some people assume that since the items and currency in the metaverse are digital and not physical, there are no tax obligations. However, this is a misconception, and it could lead to significant tax liabilities in the future.

Another common misconception is that since blockchain technology is difficult to track, the IRS may not be able to determine the financial values of metaverse transactions. However, the IRS has a history of finding ways to identify and tax previously unreported assets, such as offshore accounts. Therefore, it is likely that they will develop methods to track and tax transactions in the metaverse as well.

Tax Implications in Metaverse

Although the IRS has not yet released any clear guidelines on how metaverse transactions will be taxed, we can gain some understanding of their approach by looking at previous guidance.

Presently, the IRS considers virtual currencies that may be traded for real-world currency to be taxable. Therefore, it is highly likely that cryptocurrencies and digital assets used in the metaverse will also be considered taxable since they can be exchanged for real-world currencies.

For instance, if an individual earns Ethereum in the metaverse and then withdraws it into a private wallet, these earnings will be subject to taxation, similar to other cryptocurrencies.

Conversely, “closed-loop” currencies that cannot be readily converted into real-world currencies are not taxable. The IRS has already provided clarity on this matter in relation to gaming currencies, such as Fortnite’s V-Bucks and Roblox’s Robux, which are not taxable since they are not easily exchangeable into US dollars.

In summary, the tax principles that apply to virtual currencies are likely to be extended to metaverse transactions.

Metaverse NFT Tax

There is currently a lack of clear guidance from the IRS and other tax offices regarding the taxation of non-fungible tokens (NFTs) in the metaverse. However, many tax experts view NFTs as a type of digital art, which means that when you sell them in the real world for fiat currency, you may be subject to the top-end collectibles Capital Gains Tax rate of 28%.

In the case of selling NFTs for cryptocurrency, there is some guidance from the IRS. They have stated that a trade between cryptocurrencies is considered a sale and hence it is subject to Capital Gains Tax. Therefore, if you sell your NFT for a cryptocurrency such as ETH, you will likely be required to pay Capital Gains Tax on any profit you make.

However, it is unclear whether the tax rate applied to the sale of NFTs for cryptocurrency would be the collectibles Capital Gains Tax rate or the standard short and long-term Capital Gains Tax rates. Further guidance from the IRS is needed to clarify this issue.

How to Keep Up with Tax Liabilities?

As the Metaverse grows and investors participate in various transactions, it is likely to introduce a range of tax issues. It is currently unknown if Metaverse platforms will be obliged to send 1099 forms in order to notify both users and the IRS of their tax responsibilities. Hence, investors will have to track their taxes independently.

Crypto investors are already struggling to keep a record of their tax capital gains and income across multiple wallets and exchanges, and the Metaverse is only going to increase this complexity. Therefore, investors will require more tools and resources to help them manage their holdings and file their taxes. Also, when it comes to managing their crypto holdings and filing their taxes, it’s always a good idea to ask your crypto tax accountant for guidance and assistance.

With the Metaverse evolving rapidly, it is becoming increasingly important for investors to be mindful of the tax consequences of their investments. Utilizing crypto tax services can assist investors in keeping track of their tax obligations and ensuring compliance.

These services can eliminate the burden of reporting and filing taxes by handling the process on the investor’s behalf, which can save them a lot of time and effort. By employing crypto tax services, investors can concentrate on their investments without being concerned about the tax implications.

Author Bio:

Akanksha Malik is a content creator & digital strategist at Mesha. She develops content to share her knowledge and insights helping her readers stay updated with the latest in the fintech world, as well as Web3 businesses, cryptocurrencies, and other business trends or opportunities. Akanksha also loves exploring architectural sites and different local dishes during her travels.

A Beginner’s Guide to Investing in the Stock Market: Navigating Bearish and Bullish Trends

 The stock market is known for its volatility, with prices fluctuating up and down based on various factors, including economic indicators, company news, and global events. Investing in the stock market can be daunting for beginners, but it can also be a great way to build wealth over time. This article will guide you through the basics of investing in the stock market as a beginner and how to invest in bearish and bullish trends.

Step 1: Educate yourself

To begin investing in the stock market, gaining knowledge about how it operates is crucial. This includes learning about stocks, bonds, mutual funds, and exchange-traded funds (ETFs). It would be best to understand the different investment strategies, such as value investing and growth investing, and the associated risks and rewards. An excellent way to get started is to read books or articles on investing, take an online course, and read business newspapers.

Step 2: Set your investment goals

To make wise investment decisions in the stock market, it is essential to establish your investment objectives beforehand. You should consider whether you aim for long-term capital growth, regular income, or both. Determining which sectors or industries you want to invest in can be beneficial. A clear understanding of your investment goals will aid you in making informed decisions regarding which stocks to purchase.

Step 3: Open a brokerage account

One must set up a brokerage account to engage in stock market investments. After selecting from popular options like Robinhood, E*TRADE, and TD Ameritrade, you can swiftly and effortlessly open an account with numerous online brokerage firms. Once the account is active, you can transfer funds and commence investing.

Step 4: Diversify your portfolio

Diversification is crucial for successful investing, which involves investing in a range of stocks across various sectors and industries. Diversification helps reduce risk and can improve returns over the long term.

Step 5: Understand the concept of risk tolerance

Your risk tolerance is the level of risk you are comfortable taking when investing. It is essential to understand your risk tolerance as it can impact the types of investments you choose to make. If you have a low-risk tolerance, you may want to consider investing in more conservative stocks or mutual funds. You may be more comfortable investing in riskier stocks or growth-oriented mutual funds if you have a higher risk tolerance.

Step 6: Attempting to predict the market’s timing is not advisable

Trying to time the market, or predicting when to buy and sell stocks based on market fluctuations, can be difficult and often leads to poor investment decisions. Instead, focus on investing for the long term and consider dollar-cost averaging, which involves investing a fixed amount of money at regular intervals, regardless of market fluctuations.

Step 7: Consider working with a financial advisor

If you need help investing in the stock market or want professional guidance, consider working with a financial advisor. A financial advisor can help you create an investment plan that aligns with your goals and risk tolerance and provide ongoing support and advice.

Step 8: Be patient

When investing in the stock market, adopting a long-term mindset is crucial. Growth and returns take time to materialize, and rash decisions based on fleeting market changes should be avoided. By adhering to your investment plan and keeping your sights set on your ultimate objectives, patience and perseverance can ultimately pay off.

Step 9: Maintain control over your emotions

The stock market can be emotional, and getting caught up in the ups and downs is easy. However, it’s essential to keep your emotions in check and avoid making investment decisions based on fear or greed. Stick to your investment plan and remain disciplined in your approach to investing.

Step 10: Monitor your investments

Investing in the stock market requires ongoing monitoring. This means keeping an eye on your investments and staying up-to-date on news and events that may impact the stock market. You should also review your portfolio regularly and adjust it to align with your investment goals.

Investing in Bearish and Bullish Trends

Investing in the stock market can be challenging, especially when experiencing bearish or bullish trends. In a bearish market, stock prices are falling, and investors are pessimistic about the market’s future. In a bullish market, stock prices rise, and investors are optimistic about the market’s future. Here are some tips on how to invest in bearish and bullish trends:

Investing in a Bearish Trend

  1. Consider buying defensive stocks, such as utilities or consumer staples, which tend to hold up well during a market downturn.
  2. Look for stocks with strong fundamentals, such as a solid balance sheet and consistent earnings.
  3. Consider investing in bonds or other fixed-income investments, which can provide a steady source of income during a bearish market.

Investing in a Bullish Trend

  1. It is advisable to contemplate investing in growth stocks, which are stocks of companies that are anticipated to grow faster than the market.
  2. Look for stocks with strong earnings and revenue growth and a solid track record of beating earnings estimates.
  3. Consider investing in technology or healthcare stocks, which perform well during a bullish market.

In conclusion, investing in the stock market can be a great way to build wealth over time, but it requires education, research, and ongoing monitoring. By following these steps and tips, beginners can confidently start investing in the stock market and navigate bearish and bullish trends.

 

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