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The 10 Most Innovative Business Leaders Revamping The Future 2021
4 Tips To Make Your Business Stand Out On Social Media
Social media is hugely important in promoting your business. Right now social media is a multi-purpose tool. It’s a promotional tool, but it’s also a tool for engaging with your customers, and giving them immediate access to you, and your business. As social media is so important, pretty much every business is using it, which means that you really need to make sure that your business stands out from the crowd.
1. Upgrade All Your Profiles
Make sure that your business is active on the same platforms that your customers are. If they’re on LinkedIn, make sure that you are too. You also need to be sure that your profile bios have all the information that you need to get across, but that they’re engaging, and relatable.
Another tip is to set up a Google My Business account to make sure that anyone who is looking for you can find you easily.
You’ll also need to make sure that all your social media profiles, across all platforms are consistent with your brand. All your profiles need to have a high-quality profile picture. It’s a good idea to use the same image on all your profiles, and it’s a better idea to make your profile picture your logo.
As well as sharing posts, and posting directly on your social media, you should consider creating social media groups for your clients. Social media groups will help create a community of clients, and give you a different way of communicating with them. You can use the group to give your existing clients first looks of new products, news, updates, and you could even offer them specific discounts or rewards.
2. Find New Ways To Engage
Another way to make your business memorable is to find new ways to engage with your customers, and potential customers.
Live Streaming
Live streaming is a fantastic way of connecting with your audience, and attracting a new audience as well. Live streaming gives people a chance to see you in real-time, and interact with you in a way that posting doesn’t allow for.
You could start with a Question and Answer stream, and give potential customers a chance to ask questions, and really show them what your business can do for them. Other live content ideas could be sneak peeks of new products, upcoming news or developments, or even a masterclass in using your products.
Consultations
Depending on your product, it could be an idea to offer online consultations to your customers. Many social media platforms offer video calling, or voice calling. If your product, and your schedule allows, make a call to action on your social media profiles offering your potential customers a one to one consultation.
3. Keep Your Blog Up To Date
If you already have a blog, you should make sure that it’s kept up to date. If you don’t have one, you should consider starting one.
A blog has several benefits for your website. Firstly, it gives search engines something else to crawl through, and this can help your place higher in the search engine rankings. It needs to be well written, and contain keywords, but it’s definitely a big plus as far as search engines are concerned.
Secondly, it shows your customers that you have something of value for them. When you share your knowledge, you’re telling your customers that you have expertise that can help them solve their problems.
Thirdly, it gives you something to share on your social media profiles. Social media users can begin to ignore your posts if you post more or less the same thing all the time. Sharing your blog posts is another way to keep their attention.
4. A Mailing List
A mailing list means that you can engage with your audience from their own email inbox. One of the benefits of this is that it’s a direct connection with your clients. Make sure that your mailing list sign-up is on your social media profiles, and make sure that clients have a reason to sign up. It could be that you offer more specific advice, more detailed content, or a specific discount for people who sign up.
Accelerating Pace Of The Digital Financial Solutions With Next Gen – Products At Spherium Finance
“Opportunities avail but wait for ready hands to grab them.”- Sash Jeetun
A leading fintech platform in the Decentralised Financial sector, Spherium Finance is synonymous with a dignified pioneer in unifying the current scattered DeFi landscape by creating a suite of financial services for a global audience. It is the brainchild of Sash Jeetun, who is known to be a highly ambitious, tenacious and solutions-focused individual, striving to build an eccentric platform, spearheading the cause of decentralization and DeFi.
Mr Sash Jeetun, Co-founder, Spherium Finance is an Anglia Ruskin University Alumni, an industry expert and serial entrepreneur. The leader has been involved in blockchain since 2014 and is a big believer in the power of blockchain technology to solve the current financial imparity. With qualifications in Business Management, International Business and other fields, supported by a vast background in research, advisory, fundraising and assisting bootstrap crypto projects, Mr Sash is already an established entity in the industry. He is an instinctively proactive personality with a positive and innovative approach to challenges. And so far, he has been privileged to lead several entrepreneurial projects in different capacities and roles.
Offering a Complete Suite of Financial Services
Spherium Finance is a DeFi platform that offers a complete suite of financial services comprising a universal wallet, token swap platform, money markets, and inter-blockchain liquidity transfer. This platform will function as a global decentralized financial service provider, extending fundamental financial services to the unbanked.
At the moment, they have four different products which they are rolling out. These are HyperSwap, Spherium Bridge, HyperLend and Spherium wallet:
HyperSwap: HyperSwap is a fully decentralized interoperable platform for swapping tokens using cutting-edge Automated Market Maker (AMM) algorithms that allow liquidity providers to capture profits by reducing the price skew (for an asset in a pool) and bringing the asset price back to the market price. This infrastructure, built on the Ethereum Blockchain and Binance Smart Chain, creates different liquidity pools and will incentivise liquidity miners. Users can add liquidity for any asset pair on HyperSwap liquidity protocols. Additionally, liquidity providers can earn $SPHRI tokens for approved asset pairs. As another advantage, liquidity providers will earn the pool’s trading fees paid by HyperSwap users for swapping tokens. When liquidity is supplied to the pool, the provider will receive special LP tokens which will be proportional to the liquidity they add to the pool. HyperSwap, as a solution, aims to solve four major issues in DeFi. These challenges include impermanent loss, interoperability, high transaction fees and complex user interfaces.
Spherium Bridge: The Spherium Bridge is a dynamic multi-chain bridge addressing the real bottlenecks between different chains and their ecosystems. Currently their bridge resides between the Ethereum blockchain and the Binance Smart Chain such that ERC-20 tokens and BEP20 tokens can be easily transferred across either chain. Moving ahead, the bridge will also integrate Polygon and Avalanche to create more multi-chain indulgence and will eventually transform the really fragmented DeFi space as a whole.
HyperLend: HyperLend is a decentralized lending protocol built to connect lenders and borrowers. The HyperLend money market is a pool of particular assets that algorithmically derive interest rates based on the supply and demand for the asset. Lenders and Borrowers of the asset will interact with the protocol directly in order to earn and pay, respectively, a floating interest rate, without having to negotiate any kind of terms such as maturity, interest rate, or collateral.
Spherium wallet: Spherium Wallet is a non-custodial, secure mobile-first wallet for ERC20 tokens, which will enable our customers to use all the services provided by the Spherium ecosystem at all times from their mobile device. The Spherium team will ensure the safety and security of users’ assets by adopting best practices in the cybersecurity space. Initially, the wallet will be launched on Android devices and later, on IOS devices. The wallet will also have integrations with payment gateways and crypto-to-fiat payment offboarding facilities.
For their outstanding solutions, Spherium Finance has been recognized by many publications. Recently, they were mentioned by beststartup.asia as one of the “31 Top Singapore Financial Exchange Companies and Startups”.
Spherium has an extended use-case and massive DeFi prospects for the future financial solutions. In less than a year, Spherium’s native token, $SPHRI, got listed on several exchanges and coin trackers including Gate.io Uniswap, CoinMarketCap, CoinGecko and several others. They have also introduced their native Incubation and Grant Program to build the biggest cross-chain community out there. Several projects have already been announced and more are to follow with the onset of their cross-chain DEX HyperSwap Mainnet.
Clientele & the Corporate Ethos
The clientele cut across different sectors of the global economy, especially finance and other companies that render blockchain-backed services.
Clients are very vital for the viability of every business. For this reason, they are keen on developing products and solutions that align with customer values. In recent years, the DeFi space has grown invariably and there still exists a lot of complications in terms of sustained interoperability, complex user interface and high transaction fees. Spherium being largely customer-centric, their solutions are built to solve each of these problems strategically and skillfully.
Major Hurdle & The Driving Force
Sash’s primary challenge was bringing growth to a highly competitive industry where everyone is trying to build the next big thing. In the blockchain space, innovations happen really quick and if you miss an opportunity, you might find yourself far behind.
“Getting to the point where I am today taking a lot of hard work and determination. My family was my greatest support when I felt like throwing in the towel. I also drew inspiration from Elon Musk and a few others, especially those who failed and never gave up”, shared the visionary.
Creating a more Balanced and Equal Industry
To contribute to a more balanced industry, The leader advises companies to stay on top of their game and always brainstorm on innovations. This is because the blockchain and DeFi ecosystem is fast-paced. It’s also necessary to hire the best team.
Sash Jeetun’s Daily Routine & Hobbies
Sash Jeetun’s daily schedule is usually very tight. He wakes up at 6:30 am daily, meditates and gets engaged in a series of business meetings. He also finds time to study, he reads lots of books and catches-up on podcasts while executing the day’s work. Coming from a varied field of roles, Sash also manages to touch base with the Developer, Marketing and BD team in Spherium, taking charge of day-to-day activities. At last, he ends his day with a quick call with the founding partners to discuss the progress, vision and the next action plans in the pipeline. The visionary also enjoys watching Formula 1, Badminton, and playing golf in his leisure time.
Words of Wisdom for Female Entrepreneurs
Female entrepreneurs shouldn’t let issues of gender imbalance common in many nations, especially developing countries get to them. They should learn to be decisive and diligent in accomplishing set goals, as well as remember that the sky is wide enough for everyone.
Favourite Book & Quote
One of Sash’s favourite books is “The Greatest Business Decisions of All Time” and “The Big Short”. He loves these books because they give an insight into how the biggest business names, they know of today made decisions that made them prominent.
Three Altcoins to Keep an Eye On in 2022
Cryptocurrency had a challenging month in November.
Bitcoin hit an all-time high according to Time in November but then tumbled by 20%. Ethereum, the crypto behind many NFTs, has entered December in good shape, with the New York Times suggesting that it has shed its reliance on Bitcoin. Traditionally, smaller altcoins have piggy-backed on Bitcoin’s success; when it goes up, they go up. When it flounders, they’ve often struggled, but the market is changing rapidly.
This is partly down to NFTs adding validity to altcoins without the reliance on bitcoin. For a long while, Bitcoin was as synonymous with crypto as Hoover was with vacuum; they were erroneously classed as the same thing. Now, altcoins are moving out of the shadow of the headline act and making a name for themselves, which is great news for the investor. No longer are people reliant on Bitcoin doing well for their crypto wallets; Ethereum is proof that altcoins have a value of their own.
With that in mind, here are three altcoins that you need to watch in the early part of 2022.
Enjin (ENJ)
Enjin is creating a lot of buzz in the crypto world right now, and rightly so. It’s a metaverse token, and we’ve seen rises in both Sandbox (SAND) and Decentraland (MANA) since October, as much as 500%. Enjin is also on the rise, but only 170% over the same period, and the buzz suggests it could be next to shoot up quickly. In the world of crypto, hype is often unfounded, but with ENJ, there’s an element of security in that it is an interesting long-term metaverse project that allows users to create NFTs. NFTs do appear to be a key future driver of crypto, which bodes well for ENJ.
Chiliz (CHZ)
Sports fans will already know what Chiliz are; they’re the blockchain that backs Socios fan tokens. Fan tokens are a method of investing in the influence of your sports team and are prevalent around soccer teams. Until recently, they’ve been very much restricted to Europe, but Socios are moving into the US market now, which means massive growth opportunities. Sports will always be popular, and with CHZ straddling crypto and sport, it is well-positioned for significant growth. With fan tokens showing no signs of slowing in terms of popularity, there appears to be huge scope for investment in CHZ.
Livepeer (LPT)
Livepeer is a decentralized video streaming network, a Web3 project that seeks to change how information is shared, stored and monetized. Web3 is an umbrella term for what many see as the next generation of the internet, and in that respect, LPT is on the edge of something new and exciting. People earn LPT tokens by contributing their processing power to reformat videos for different devices. It might not make you rich right now, but if Web3 takes off, LPT could be a very important altcoin indeed.
For more articles on industry and finance, as well as a range of other interesting pieces, check out our Tycoon Success homepage on a regular basis.
Nathan Hunt, A Dynamic, Hands-On Leader Empowering Business To Grow At Gateway Group Of Companies
An Award-winning Business Leader and Company Formation Specialist, Nathan Hunt Joined Gateway to help companies get licensed to do business in Abu Dhabi & Dubai. Presently, he is successfully spearheading Gateway as the CEO to expand its services to provide more business setup solutions, including free zones setups and Tajer Abu Dhabi licenses for entrepreneurs. Additionally, he launched and heads up the Food & Beverage consultancy and management services under the Gateway Group brand, working with both existing businesses and startups to develop solutions and focus on business growth for success.
Nathan is a trained chef with experience in Europe and the West Indies before settling in the UAE in 2004 where he continued in the food and beverage industry until he reached the top of his profession as a Regional Group Executive Chef.
Further, Nathan apprised, “Working as a chef is a highly pressured job and the management skills, I had gained over the years were easily transferable and complemented Gateway’s business, such as managing teams, stakeholders, and suppliers; striving for excellence; cost control; implementing standard operating procedures, keeping on top of trends and anticipating the next, etc.”
More about the Firm
The Gateway Group Of Companies helps organisations to mitigate the risks of getting licensed to do business in the UAE. They help organisations to choose the right license for their business & long-term goals, ensuring the protection of their assets and profits. Their on-the-ground knowledge and experience ensure license procedures are carried out efficiently and their nominee corporate sponsor service provides our clients with the control and protection of their business. They also organise residence visas to help their client’s employees and their families to live and work in the UAE legally.
Clientele & Corporate Ethos
Gateway was originally established to help organisations overcome the difficulties of getting licensed to do business in the UAE. Gateway identified recurring issues companies were experiencing, such as wrong licenses, empty promises, being stuck in exclusivity contracts, no exit strategies, uncooperative local sponsors, lost profits, and more, and created no-nonsense, transparent, and well-communicated services to address them. Establishing a presence in the UAE doesn’t need to be difficult, providing you engage the right expertise at the outset. So Gateway’s approach has always been client-focused and doing what is in their best interests. Their corporate strapline is Reassuringly Honest.
Here, the clientele includes SMEs to large international organizations. Once clients have had a bad experience and they switch to their services, they are usually surprised and impressed at the quality and smoothness of our operations, which means they can spend more time focusing on their own businesses.
Overcoming Entrepreneurial Hindrances & the Inspiring Team
Nathan and his colleagues go through the same challenges as any other business, namely employing the right people at the right time and constantly innovating their service offering to remain relevant to the clients.
There is a fantastic team and we work together as a family. Their values match those of the organisation, which is Honesty. Trust. Integrity. And, the management gives their employees the freedom to develop. They each genuinely contribute to the development of Gateway. “We are extremely proud to say that we have never lost a staff member”, said Nathan.
The team is working on the front line and they are the ones who experience regulatory changes or client challenges first and are often the ones to therefore suggest changes to the services when they are needed.
Nathan’s Views on Creating a Balanced and Equal Industry
According to Nathan, companies should give more value to their employees. Employees are the cogs of a business and without them, there is no business. By hiring the right person for each role, remunerating them fairly, motivating them appropriately and genuinely making them feel a part of the team, and showing them the value they contribute to the business will make for happier employees and will also benefit the business in terms of productivity enormously. Too many organisations consider their employees a cost rather than an asset to invest in.
A Day in Nathan Hunt’s Life
“I get up early, let the dogs out and head straight into our home office, usually, around 4:30 am. Getting up and getting on with your day is essential for business success. I can get a good couple of hours of work done before the team gets to the office. I can clear emails that arrived overnight and also have virtual meetings with both the Far East and the US. It means I can take advantage of the time zones. During office hours, no two days are the same, but they will generally be made up of virtual meetings and calls if I’m working from home or face-to-face meetings if I’m working in Dubai or Abu Dhabi. When I have the opportunity, I get in a round of golf. This is a great way to combine business and my hobby. I’m also currently Vice-Captain of the Al Ain Golf Club. Evenings can be spent at home having a meal with my wife, attending networking events, or playing golf, so days end at varying times”, shared Nathan when asked about his daily routine.
Favourite Book
Millionnaire Underdog by JT FOXX. JT is one of Nathan’s business coaches. His book consolidates practical ideas and strategies for scaling your businesses. Each time you read it, you pull out ideas to implement that are particularly relevant to you at that particular time or get reminded about things you used to do for your business and need to start doing again. It’s an easy read, full of energy to make you take action and based upon proven results!
What’s Next on the Cards?
The future looks very exciting for Gateway. The company is about to expand its services into Abu Dhabi Global Market (ADGM) meaning that they can specifically help their clients wishing to set up SPV’s to hold assets such as shares of private companies, shares in publicly listed companies, real estate, intellectual property rights (‘IP rights’) (e.g. trademarks), etc.
Accreditation on the Way
Gateway has received numerous accolades over the years. This year it was awarded with the ‘Best Onshore Business Sponsorship Services UAE’ by MEA Markets and their founding partner is in FORBES’ Top 100 Most Influential Women In The Middle East. These certainly reinforce their credibility in the market.
A Piece of Advice for Female Entrepreneurs
It’s very easy as an entrepreneur to get caught up in the operations of a business, rather than leading it, especially in the early days, so having the foresight to step out of your business and take a look at it will help with future planning and decision making. Be prepared to be uncomfortable – if you are living in your comfort zone, you aren’t leading and making changes and growing. Learn from others – you can avoid the common business mistakes entrepreneurs make if you take time to study other business leaders and their strategies – they have already made the mistakes and this means you can avoid them. Get a business coach to keep you accountable and focused. Surround yourself with people who know more than you.
Favourite Quote
“Don’t do your best, do whatever it takes,” JT Foxx.
The cybersecurity threat landscape
With the prevalence of 24-hour connectivity and modern advancements in technology, threats are evolving rapidly to exploit different aspects of these technologies. Any device is vulnerable to attack, and with the Internet of Things (IoT) this became a reality. The IoT has seen increased usage of digital communication and the increased transfer of data via digital platforms increases the risk of data interception by malicious individuals. Pervasive surveillance through digital devices is also a recent threat with the increased use of smartphones. Governments can now engage in digital surveillance of their citizenry with the excuse of providing security against potential terrorist threats. Criminals can also do similar tasks to the detriment of the targeted victims. In 2014, ESET, an internet security company, reported 73,000 unprotected security cameras with default passwords.
In April 2017, IOActive found 7,000 vulnerable Linksys routers in use, although they said that there could be up to 100,000 additional routers exposed to this vulnerability.
In 2018, Marriott Hotels disclosed that 500 million customers’ data was leaked, and in April 2020 they disclosed another data breach affecting 5 million customers.
In 2019, First American Corporation a real estate title insurer, disclosed quarters of a billion mortgage deal documents, including bank account numbers, tax records, Social Security numbers, wire transaction receipts, and driver’s license images.
In 2020, Fire one of the largest cybersecurity companies in world , disclosed that they had been hacked, likely by a government, and that an arsenal of hacking tools used to test the defenses of its clients had been stolen.
April 2021, Facebook disclosed one more data leakage this time 540 of its users data , including Mark Zuckerberg’s data…
Cybersecurity and COVID-19
The cybersecurity landscape is always evolving and presenting new challenges, but since the COVID-19 global pandemic began, the cyber landscape has shifted at rapid speeds, leaving IT security professionals around the world scrambling to adapt to the new threat landscape. This has driven the IT world to adopt innovative methods of managing the business resilience and digital needs of a fully remote workforce, for example, with the use of video conference technology.
One of those technologies is Zoom: free, accessible, and easy to use. Zoom’s user base rocketed from 10 million in December 2019 to 200 million by the end of April 2020. This rapid increase caught the attention of security researchers, who found many security issues that have cast a shadow over the product.
Of course, Zoom is not the only company to feel the pinch during the pandemic. Cybersecurity threats have heightened during the crisis, as cybercriminals look to take advantage of companies that haven’t adopted the best practices of this rapid change and, as a result, are not operating as securely as they usually would.
When a company CEO asks what the vulnerabilities in a home device have to do with their company, the Chief Information Security Officer (CISO) should be ready to give an answer. The CISO should have a better understanding of the threat landscape and how home user devices may impact the overall security that the company needs to enforce. The answer comes in two simple scenarios, remote access and Bring Your Own Device (BYOD).
While remote access is not new, the number of remote workers is growing exponentially. 43% of employed Americans report spending at least some time working remotely, according to Gallup, which means they are using their own infrastructure to access a company’s resources.
Compounding this issue, we have a growth in the number of companies allowing BYOD in the workplace. This use of unmanaged devices is opening doors for adversaries, who have shifted quickly to exploit the newly increased attack surface and overstretched IT resources. This rapid shift in the threat landscape has left organizations scrambling to scale their security systems to meet the rise in the use of personal home networks, handheld devices, and apps beyond the scope of the enterprise environment.
Keep in mind that there are ways to implement BYOD securely, but most of the failures in a BYOD scenario usually happen because of poor planning and network architecture, which lead to an insecure implementation.
What is the commonality among the previously mentioned technologies? To operate them you need a user, which is the greatest target for attack: human error is the weakest link in the security chain. For this reason, old threats such as phishing are still on the rise. This is because they attack the psychological aspects of the user by enticing them to click on something, such as a file attachment or malicious link. Once the user performs one of these actions, their device usually either becomes compromised by malicious software (malware) or is remotely accessed by a hacker.
Understanding the attack surface
In very simple terms, the attack surface is the collection of all potential vulnerabilities that, if exploited, can allow unauthorized access to the system, data, or network. These vulnerabilities are often also called attack vectors, and they can span from software to hardware, to a network, and to users (which is the human factor). The risk of being attacked or compromised is directly proportional to the extent of attack surface exposure. The higher the number of attack vectors, the larger the attack surface, and the higher the risk of compromise. That’s why many organizations prioritize attack surface management to identify and mitigate these risks effectively. It ensures their systems are protected against potential threats.
Just to give you the extent of an attack surface and its exposure, let’s look into MITRE’s Common Vulnerabilities and Exposures (CVE) database, here: https://cve.mitre.org/cve/. The database provides a list of cybersecurity vulnerabilities that have been targeted in the past, to make organizations aware of them should they use the same software or hardware systems. It has 108,915 CVE entries at the time of writing, which have been identified over the past few decades. Certainly, many of these have been fixed, but some may still exist. This huge number indicates how big the risk of exposure is.
Any software that is running on a system can potentially be exploited using vulnerabilities in the software, either remotely or locally. This applies particularly to software that is web-facing, as it is more exposed, and the attack surface is much larger. Often, these vulnerable applications and software can lead to the compromise of the entire network, posing a risk to the data it is managing. Furthermore, there is another risk that these applications or software are often exposed to: insider threat, where any authenticated user can gain access to data that is unprotected due to badly implemented access controls.
An attack surface may be exposed to network attacks that can be categorized as either passive or active, depending on the nature of the attack. These can force network services to collapse, making services temporarily unavailable, allow unauthorized access to the data flowing through the network, and other negative business impacts.
In the event of a passive attack, the network might be monitored by the adversary to capture passwords, or to capture sensitive information. During a passive attack, an attacker can leverage the network traffic to intercept communications between sensitive systems and steal information. This can be done without the user even knowing about it. Alternatively, during an active attack, the adversary will try to bypass the protection systems using malware or other forms of network-based vulnerabilities to break into the network assets; active attacks can lead to the exposure of data and sensitive files. Active attacks can also lead to Denial-of-Service (DoS) type attacks. Some common types of attack vectors are:
- Social engineering scams
- Drive-by downloads
- Malicious URLs and scripts
- Browser-based attacks
- Attacks on the supply chain (which are becoming increasingly common)
- Network-based attack vectors
To find out more about this topic, I would highly recommend that you download and read Verizon data breach reports: https://enterprise.verizon.com/resources/reports/dbir/.
What follows is a relevant excerpt, which indicates the various factors that shape an organization’s attack surface:
“Errors definitely win the award for best supporting action this year. They are now equally as common as Social breaches and more common than Malware, and are truly ubiquitous across all industries. Only Hacking remains higher, and that is due to credential theft and use, which we have already touched upon. Misconfiguration errors have been increasing. This can be, in large part, associated with internet-exposed storage discovered by security researchers and unrelated third parties.”
According to the Verizon breach report, hackers’ tactics and motives have not changed much over the last 5 years, with 63% of breaches launched for financial gain, and 52% of breaches featuring hacking. Ransomware attacks account for nearly 24% of attacks involving malware, and breaches continue to take a long time to be detected, with 56% taking several months or longer to be discovered. And typically, by the time the breach has been discovered, the damage has already been done.
With every passing day, the network of connected devices is increasing, and, while this growth of connectivity continues to grow bigger, the risk of exposure is also increasing. Furthermore, it is no longer dependent on how big or small businesses are. In today’s cyberspace, it is hard to establish whether any network or application is prone to attacks, but it has become extremely important to have a sustainable, dependable, and efficient network system, as well as applications. Properly configured systems and applications will help reduce the risk of attack, but we might not ever be able to eliminate the risk of attack completely.
A Business Leader’s Six Core Duties
The responsibilities of a company’s top executive are extensive and nuanced. You should be conscious that even if you lack a certain amount of flare, your confidence and will to succeed in business will more than compensate for it. Alternatively, even if you have all the ability in the world, your chances of success are considerably diminished if you lack faith in yourself and your abilities. The good news is that you may take concrete and tested methods to gain the self-assurance you need to be successful in your business ventures and profession. Regardless of the business, sector, or type of organisation, at least six functions must be performed.
The top Six core duties of a business leader
Providing overall leadership and guidance.
Businesses must be able to envision where they will be in three to five years. The process of conceiving the vision may appear straightforward on the surface. There are some factors to consider, including your competition and technical advancements, shifts in consumer preferences, and your existing position in the market.
Choosing the Right Approaches.
Following a clear understanding of your long-term goals, you may begin picking the best ways to get there. This could be seen as a means to an end, a way to get from here to there. The purchase of companies, development into new markets, and technological advances are all possible avenues for growth.
Making a Plan Come True
If you’re a board member of a huge company, you’ll need to strike a delicate balance. Making things happen without taking on all of the work alone is essential. In principle, this might seem like a cinch, but in fact, it’s a major challenge.
Setting the Right Priorities and Goals.
The framework you establish must allow you to realise your vision and put your strategies into action. Please keep it simple and not overly complicated at the same time. This becomes increasingly challenging as the size of the organisation increases.
Assisting Others in Getting Inspired
Being able to articulate your goals is critical. The ability of the leader to motivate and inspire others in the organisation is a vital aspect in whether or not the goal is reached. There will always be sceptics in any organisation, and you’ll need to persuade them.
Human Resource Management
People development must be a top priority if the company is to continue to grow. When it comes to discovering and developing the most brilliant employees, the top companies have processes in place. Creating a steady supply of new talent is essential to long-term advancement and success.
Self-Motivation
In order to motivate themselves, leaders with high degrees of self-awareness must have taken the time to study what makes them tick. As a result, they are well-versed in the theory of motivation and have figured out what motivates them personally.
An effective leader must be able to manage a variety of competing priorities. If you want to be a successful leader, you must master all of these standard leadership functions.
Top 10 Business Leader Mistakes When Trying to Inspire
Pay attention to the people around you.
Trying to encourage and motivate my team when I’m not fully engaged and inspired myself is a pitfall I’ve fallen into myself. Recognizing this in ourselves is an excellent place to start. Some coaches can help, but you might want to start by becoming more conscious of your impact on people first!
Pay attention to what’s happening outside of your control.
In the same vein as number 1 above, a business leader must be wholly focused on the circumstance or challenge at hand to achieve success. Leaders need to strike a balance between their introspection and their attention to the needs of those around them so that they can weigh their impact on a particular scenario or individual before making a choice.
Concentrate on the truth
They appreciate that the feelings and impressions of employees, clients, and other stakeholders can be just as essential, if not more significant, than the facts of a particular issue. This is why good leaders don’t simply focus on the points. When a choice must be made, they weigh all the options.
Not in touch with their inner motivations and desires
A lack of self-awareness can make it challenging for business leaders to inspire others. It is essential to know how to tap into your source of inspiration to motivate your employees.
Give no meaning or importance to what they are trying to express. 5
The current economic climate necessitates a bold, intentional strategy. Because they have a clear sense of how their work contributes to the greater good, employees are more likely to be motivated by a sense of purpose in what they’re doing.
Insufficient effort to learn about the individuals and what drives them
A combination of this and the prior error can have the greatest impact on employees. It is a lot easier to know what motivates, inspires, and engages employees if you spend some time getting to know them. To avoid making assumptions about other people, it is crucial not to assume that their goals and drivers are comparable to your own.
Rather than focusing on the long-term goal, focus on the short-term.
Don’t lose sight of the big picture when you’ve got a lot of short-term chores to complete. These are vital in monitoring and progress, but they might drive corporate executives to focus on the urgent rather than the important.
Forget that it’s a long-term process, not a one-time problem.
For many people, a task is perceived as a measure of success rather than development because of error number 7: the performance of that work. To keep employees motivated and engaged, the process of sharing and receiving feedback must be a constant one.
Be someone they’re not by pretending to be someone else.
It’s challenging to get the most out of others if you try to change yourself to achieve what you want from them. On the other hand, leaders must be agile and adaptable to meet the needs of different people and situations. As a result, effective leadership is a delicate balancing act, in the same way that a chameleon continuously adapts to its environment yet never loses its identity.
There’s no fire in my belly for this.
The subject, what needs to be done, or what leaders are attempting to accomplish can all inspire a person’s passion. The infectiousness of a leader’s passion and energy is a powerful motivator for their followers.
An Industry Veteran Is Walking the Unique Path to Success leading PJP Investments Group, Tapan Vaidya
Tapan Vaidya, a passionate, innovative, and veteran in the industry and on Caterer Middle East Power 50 List 2020, is currently spearheading the growth of PJP Investments Group in the role of CEO with his own investment. PJP is the owner-operator of Papa John’s in the UAE & Saudi Arabia.
In his 35-year long work journey, across the Middle East & India, Tapan has been associated with the development of hundreds of restaurants across these markets with brands including Papa John’s, Chili’s, Burger King, Pizza Hut, Outback Steakhouse… it is a long list. Tapan also founded Talli Turmeric® – a hugely popular polished casual dining brand serving authentic Indian food from across Indian regional cuisines, celebrating Turmeric’s position in the Indian culinary landscape, in South Mumbai, India. This October, Talli Turmeric® will soon launch in Dubai in a virtual format through a partnership with cloud kitchen unicorn Kitopi. Currently focused on developing and expanding Papa John’s in the UAE and Saudi Arabia, Tapan is keen to give back to the industry from his deep knowledge and hands-on experience. With the current crisis that the industry has now faced for over a year, Tapan has dug deep to bring new insights and creative solutions in handling his business, and he is a successful versatile leader. In academics, Tapan has done BSc in Mathematics from St. Xavier’s College & a Business Diploma from NMIMS, Mumbai, India.
A Glimpse of PJP Investments Group
PJP Investments Group owns and operates 62 Papa John’s restaurants in the United Arab Emirates, with strong expansion plans to build 110 restaurants by 2026. PJP has recently signed on the Kingdom of Saudi Arabia and opened its first restaurant in Riyadh last month. The development plan includes 100 restaurant openings in 10 years.
While talking about his consumer base, Mr Vaidya said, “Consumers of all ages and nationalities are our customers – that is the power pizza enjoys as comfort food. Quality of ingredients and operational execution in our restaurants are two key elements that contribute to our success. These are not easily achieved, there are processes in place to systematically achieve these two on a daily basis, every day.”
The Inspiration behind the Initiation
Tapan Vaidya waited at tables in a local restaurant during his university days and that experience made him fall in love with the restaurant industry, the trigger was the instant appreciation of a great effort. You serve great food and provide excellent service to a dining guest; you receive an instant reward in the form of a Tip. Simple start of falling in love, but has taken him on a roller-coaster-like exhilarating ride in his career.
Hurdles on the Way
The PJP Investments Group grew from one restaurant in 2005 to 62 restaurants today. This did not happen without teething problems, in fact, the problems grew exponentially large each year as the company struggled to ensure various elements were aligned with the objectives, including recruitment, training, supply chain, striking the right balance between menu price and cost of goods sold – this list is long. However, the team stayed focused on getting the quality of ingredients right and ensuring flawless restaurant operations. This helped them make customers happy and they kept coming back.
A Day in Tapan’s Life
“I wake up early at 5 am every workday and head off for my main physical as well as a mental exercise – half a round of Golf at Emirates Golf Club. I avoid the Golf Cart and walk the course. After a shower at the Club, I drive straight to my office for a day full of excitement. Once a week I would usually have a session with new joiners. I insist on spending a half-hour with them to talk about our Vision, Mission and Values. Then there are the weekly Trade Meetings where the entire management team comes together to discuss last week’s performance”, asserted Tapan when asked about his daily routine.
“Every day, I personally spend time with our operations team from across all emirates, to discuss each feedback received from our customers, negative and positive. A customer who sent in negative feedback is informed and won back while customers who sent in positive feedback are thanked well”, he further added.
The Support System
Consistent focus on the quality of ingredients used and the passion to make every customer return is what has helped Tapan and his venture grow consistently. Papa John’s has a great brand promise of Better Ingredients Better Pizza and they stay true to it at all times, never compromise on quality. And this does not escape customers’ notice.
The visionary insists that the teams in restaurants focus on ROC and not ROI! ROC is Return of Customer – that each team member must focus on taking great care of each transaction, each customer in such a way that the customer only thinks about coming back to Papa John’s!
“If we take care of ROC, then ROI will take care of itself”, said Tapan Vaidya.
Growing through the Pandemic
“At the height of the pandemic at the end of March 2020, when we were facing the closure of half our restaurants in the United Arab Emirates, I took the decision of not letting a single team member go. I knew the restaurants will reopen once the pandemic subsides, but where will we get trained personnel from? Who will make our customers return, if not our trained teams? I am happy and proud to confirm that we not only lived up to not letting any job go to COVID, but we started recruiting even more employees to fuel our expansion, with over a dozen restaurant openings since then”, Mr Vaidya proudly shared.
Favourite Book
My Experiments with Truth by Mahatma Gandhi
Future Roadmap
The future is very exciting! PJP Investments Group has 62 restaurants in the United Arab Emirates, with over 10 locations in the pipeline. The company is expanding fast, it will exceed the target of 110 restaurants by 2026. Recently, they have just opened their first restaurant in the Kingdom of Saudi Arabia very successfully – all set to exceed their target of 100 restaurants by 2030.
Features in the Crown
- International Franchisee of the Year in the global Papa John’s system for 2014.
- Tapan Vaidya was named in the Power 50 in F&B in the Middle East by the prestigious Caterer Middle East Magazine for 2020.
- He was appointed to the Advisory Board of Dubai Restaurants Group (DRG), patronised by the Dubai Chamber of Commerce. DRG is the voice of the restaurant industry in Dubai.
- He was awarded RetailME Icons Award 2021 by Images RetailME.
- Featured by The CEO Magazine in their June 2021 EMEA edition.
A Piece of Advice for Aspiring Female Entrepreneurs
Use your instincts to make a decision especially when in doubt, your instincts have been more accurate since time immemorial, and second is a simpler truth easier said than done, ensure your revenues exceed your costs – you can do that if you make your customers return.
Favourite Quote
Have No Men in your team rather than have Yes Men in your team!