Glamora Group

12/08/2021

'sTalkBusiness

💥ENTREPRENEURIAL MINDSET 💥

To stay ahead of the competition, it’s vital that we constantly reinvent our businesses and ourselves, and the only way to accomplish this is by having an entrepreneurial mindset. Developing an entrepreneurial mindset is all about altering your perspective: No matter how long you’ve been in business, you’re starting it anew today. It’s about the process of diagnosing issues and symptoms to find root problems, framing options that may serve as possible solutions, clarifying data that you have and seeking what you need, and developing viable options and alternatives.

Here are some key areas you can focus on to build your own entrepreneurial mindset:

▫️1. SHAPE YOUR LIFE EXPERIENCE
Entrepreneurial thinking is about where we place the responsibility for our experiences. Although it’s not realistic to think that we have complete control of all our experiences, it’s martyrdom to think that we have none. An entrepreneur is someone who is deeply engaged in his or her experience of life and willing to do the daily work of transforming it.

Very successful entrepreneurs take the time to analyze their lives and to look closely at their vision and their purpose in life. They put their lives on paper. They take the time to construct mental images that guide them on their journey. While most people are winging it, they put their life mission and business vision and goals on paper. Then they go to work executing their plan.

When we constantly work on ourselves, we develop a greater understanding of and a greater belief in ourselves. This mindset is what allows us to become an expert in our chosen area. If we don’t understand and value ourselves, neither will anyone else. I have also found that those who understand and value themselves have a greater ability to understand and value others.

Don’t fall into the trap of blaming others for what they could have done or should have done. Look at life’s trials as a blessing to learn from. Never give up control of the journey.

▫️2. THINK PRAGMATIC IDEALISM
To adopt an entrepreneurial mindset, we must function both as an idealist and pragmatic. We must be sensitive to the world we wish to see and conscious of the world as it is. The entrepreneur’s work, then, lies in connecting the two.

When we are able to thoughtfully connect our dreams with our skills and a market opportunity, we are ready to begin our own entrepreneurial journey.

▫️3. THINK STRATEGICALLY
An entrepreneur is a great strategist and a master at getting others excited about helping them grow the business. They know how to make the most of every opportunity to bring in new prospects, convert them to paying clients, and get them to buy repeatedly. That means carefully planning, strategizing, and measuring results against expectations and re-adjusting. It means taking calculated risks and learning from the ideas that fail–and there are always ideas that fail.

Most people make their decisions about their life and careers from emotion and assumptions. Successful entrepreneurs base their decisions from fact-based thinking.

▫️4. ACT PURPOSEFULLY WITH VISION
Vision is what we hope to do with the time that we have.

Have you known anyone that is absolutely driven to succeed? No matter what the obstacle, they keep going. And in most cases it is because they have extraordinary clarity of their vision. They took the time to clearly define what it is that they wanted to do. They stopped and thought about their life, and what it was that they wanted to accomplish. They have the drive to see the task all the way to its outcome.

Time is our most scarce resource. When we realize not as an intellectual construct but as an emotional conviction that our time here is finite, we act purposefully.

Successful entrepreneurs protect and manage their time. The most valuable asset you have is your time. Thoughtfully plan your days, weeks, months, and years. Think about both how and with whom you spend your time–it’s likely an indicator of what you are to become.

▫️5. UNDERSTAND THE ECOSYSTEM
James F. Moore defined a business ecosystem as “an economic community supported by a foundation of interacting organizations and individuals.”

These ecosystems encourage companies to co-evolve their capabilities. This comes in several flavors. Sometimes an ecosystem can sprout up around a product–think the cases, headphones, and chargers for mobile devices. A company can sprout whole economic worlds, as was the case of the App Store, which was a new platform for Apple. Amazon also sprouted a marketplace from which third party vendors offer their wares on Amazon, creating an ecosystem.

These ecosystems are the structure that surrounds and supports our businesses. They build stakeholders out from the business and into society.

▫️6. LEARN TO FOCUS YOUR ENERGY
This characteristic is what I have found to be the most important when it comes to entrepreneurial success. Once we have been awakened to the possibilities of success, we also realize how many other opportunities abound.

It is easy to become scattered and distracted. Successful people develop the ability to focus and concentrate to maximize their resources and effort.

Individuals who actively work to develop an entrepreneurial mindset are transformed–rarely resembling the person that they once were. They are constantly educating themselves and gaining experience that will lead them to the goals they desire.

They truly understand the importance of acquiring greater skill sets, which in turn gives them greater self-worth. They live by the words of “renewing their minds.”

Developing an entrepreneurial mindset is one of the best self-growth initiatives we can undertake. Who we are, what we think, our personal habits, and beliefs absolutely determine the results we get.

We–and our businesses–must challenge ourselves to overcome and change what’s not working, or we become irrelevant.

Thanks for reading. Kindly share to others

©️Amb. Possibility Akpan, MNIM


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05/08/2021

WHY IS DEMAND ANALYSIS ESSENTIAL FOR YOUR BUSINESS?

SPAAR INTERNATIONAL Reveals Everything You Need to Know about Demand Analysis.

▫️WHAT IS DEMAND ANALYSIS?
Demand analysis is the process of understanding the customer demand for a product or service in a target market.

Companies use demand analysis techniques to determine if they can successfully enter a market and generate expected profits to expand their business operations. It also gives a better understanding of the high-demand markets for the company’s offerings, using which businesses can determine the viability of investing in each of these markets.

Identifying market opportunities and meeting the market demand can prove to be challenging without the right expertise.

▫️STEPS IN MARKET DEMAND ANALYSIS:

🔸MARKET IDENTIFICATION
one of the first steps in market demand is to identify the target market for the company’s products or services. Surveys or customer feedbacks can be leveraged to determine the current customer satisfaction levels. Any comments indicating dissatisfaction can be taken into consideration for planning improvements that will eventually enhance customer satisfaction.

🔸BUSINESS CYCLE
After identifying the potential markets, the next step is to assess the stage of the business cycle that each market is undergoing. A business cycle ideally comprises of three stages: emerging, plateau and declining. Markets that are in the emerging stage show higher consumer demand and low supply of current products or services. The plateau stage depicts the break-even level of the market, where the supply of goods meets the current market demand. A declining stage indicates lagging consumer demand for the company’s goods or services.

🔸PRODUCT NICHE
Once the market and their respective business cycles have been reviewed, companies must develop products or tailor their services to meet a specific niche in the market. Products must be differentiated from the peers in the market so that they meet the specific needs of consumers, and thereby create higher demand for the company’s goods or services.

🔸EVALUATE COMPETITION
A crucial factor of demand analysis is determining the number of competitors in the market and their current market share. Markets in the emerging stage of the business cycle tend to have fewer competitors. This translates to a higher profit margin for your company.

Now that you know how essential Demand Analysis is to your business, we believed you will put it into practice to keep your business running.

©️SIR, POSSIBILITY AKPAN, MNIM

04/08/2021

29/07/2021

Zrella International, the global brand you must need.

What do you like about us and what do you want us to change in other to serve you better?

29/07/2021

: THE IMPORTANCE OF BEING VISIBLE

The only way to cut through the clutter and noise of your competition is to make yourself relevant.

Being visible is something that people really struggle with. But the reality is that visibility is the only thing that is going to make you stand out from the masses if you believe that your contribution and service will positively impact the broader community. The simple but hard truth is that your business is not unique. Someone is already doing it, and may be even better than you if you compare purely with sales and profits.

But there is one crucial difference, there is only one of you. Your business is not unique but you certainly are. The only way to cut through the clutter and noise of your competition is to make yourself visible and relevant. And by relevance, you need to have an intentional presence that changes your branding and business into a timeless essence. Ten or twenty years from now, people need to look at you and think wow he or she has come a long way and is still rocking and relevant.

▫️EXPRESS YOURSELF
It's about using the power of words to leverage your opportunities. It's about expressing yourself in a way that is bigger than yourself, and more independent of your external environment because you can never control other people’s words or actions but you can control the level of importance you give those words or actions.

If they hurt you, don't let them own you by giving your power to negativity. Staying visible takes ample resilience and grit, so it is incredibly important that you focus only on what you can control and give it your best.

▫️MORE THAN JUST STICKING YOUR NECK OUT
Firstly, being visible does not equate to putting yourself out there mindlessly at any cost. Just because you see a lot of something out there does not necessarily mean it’s a good thing, especially when people don’t directly benefit or even learn from it. If whatever you are hearing or reading contains negative subliminal messaging to curb your progress in society, increased exposure to it could even be detrimental to your lifestyle, especially when you don’t realize you are being influenced to some extent.

Learning to be visible and relevant is a combination of art and science. Being visible is about being invested in your target market’s success and happiness as much as you are invested in your own success and happiness. It is about knowing how your audience could benefit from your service and products in a way that your competitors can’t cut it. Being visible is about bringing the solution to the table, even if it is initially for free.

▫️WHAT GROWTH MEANS
Visibility could take many forms. You could pitch about your business and how it is scaling impact, to editors and get published in relevant magazines, you could be a guest blogger for blog sites, you could write an article for different platforms that are aligned to purpose and fit your branding, you could get interviewed in a podcast, or you could be invited to speak at workshops and conferences. Growth doesn’t come from stagnation, it comes from movement so in order for any of this to happen, you need to step out of your comfort zone and actively source for opportunities that could elevate your branding.

You need to offer incredibly valuable content that can serve your target market and resolve their concerns. If you don’t know where to start in terms of content, start by processing your authenticity and sharing parts of your story. Your struggles, your pain points, how you overcame stumbling blocks, even though all of this may be deeply personal, people see their real vulnerable selves in your experiences and can truly connect with you. This is where people start to take notice, when they feel they can invest in you to invest in their own happiness and success.

Sharing your behind the scenes and the backend journey is actually a marketing tactic. Your connection and engagement levels will grow tremendously if you use the power of emotions to tell your brand story as your story. That's what makes you human and very visible. Everything you achieved is not done overnight. It was done over time and there was a process you followed with trials and errors and your followers and fans genuinely want to know what makes you human or more importantly what makes you vulnerable.

▫️PROBABILITY OF SUCCESS
The worst mistake a new entrepreneur can make is to assume that somehow people will find them in the realm of things. Nothing can be further from the truth. The law of averages tells us that the higher the number of attempts, the larger the probability of success.

Simply put, the more you put yourself out there, raw and real, the better your chances of finding the right kind of clients to work with or the right demographics to sell your products or services to. You know that wave of euphoria or relief (depending on your circumstances) that rushes through you when you find that one business that has what you want in the middle of the night and they are open when others aren’t.

That’s exactly what your brand should be striving for because you have that one thing to offer that others don’t even want to contemplate. Being different and visible doesn’t mean you have to be cheap. You just need to know how to build an irresistible package that connects and coverts.

Building a personal brand is now more important than ever. In a world filled with business brutality and ruthlessness, people are looking for genuine, human connections and if you can offer it to them, they will hold onto you. Don’t be afraid to be visible.

28/07/2021

FOUR WAYS TO IMPROVE YOUR BRAND EQUITY

HOW MUCH IS YOUR BRAND WORTH?
The fragility of brand equity is something that all entrepreneurs need to be aware of

THE VALUE OF BRAND EQUITY
The brand equity of a business comprises all the associations, emotions and experiences that come to mind when a consumer is exposed to the brand. What kind of bond is there between you and your customers? The stronger that bond, the higher your brand equity.

And what does strong brand equity get you? It can get you widespread recognition.

As a side effect of success, some brands even manage to become part of our everyday lexicon. Think about someone sipping coffee from a thermos, but dreaming of coke, while using a biro to write a reminder on a post-it note to buy a new hoover.

BOOSTING YOUR BRAND EQUITY
There are many ways to build brand equity. Your communications, your product performance, your customer service, even your brand name can strengthen or degrade your brand equity.

Here are four ways to ensure your business is focused on the right sort of brand equity development.

1) QUALITY PRODUCTS AND SERVICES
This is the backbone of your brand. It's vital that you deliver a quality product to your consumers if you want repeat purchases and good word of mouth.

Unfortunately, businesses in every industry make the mistake of releasing products just to appear innovative. Releasing a product that hasn’t been fully tested and doesn’t match the performance expectations of consumers can erode brand equity.

2) COMPETITIVE ANALYSIS
A strong brand is a brand that can adapt to market changes. To be such a brand, keep an eye on industry trends and your competitors’ activities.

An effective way to build brand equity is to target a niche: meet a specific need that no-one else is currently satisfying. This radiates both innovative thinking and great understanding of your consumers. Being admired and respected is the hallmark of strong brand equity.

3) CONSISTENT BRAND IMAGE
When you understand the market and your place within it, you need to communicate that to consumers in a consistent and engaging manner.

Your products and pricing are hugely important, but so are other aspects of your business. From your brand name and straplines to your social media activity, every part of your business that comes into contact with customers and potential customers must be refined to ensure it is highly targeted.

Establish your brand image from the start, and model your business accordingly. If you operate in the premium sector of your industry, be classy. If your product or service is about putting a smile on people’s faces, be fun.

Be consistent. Consumers know what they like, and they like what they know. Be in control of what they know.

4) LISTEN TO CUSTOMERS
Brand equity resides in the minds of your customers. Listen to them.

Remember this?

Coca-Cola: Here’s New Coke.

Consumers: Meh!

Coca-Cola: Sorry about that. Anyone for Classic Coke?

Coke listened to customers and remedied the mistake. But they could have avoided it altogether, by asking consumers if they actually wanted the world’s most popular fizzy drink to taste different.

Make it easy for customers to give their feedback. This will help you understand your brand's strengths and weaknesses, as well as the opportunities for growth (and what to avoid).

Understanding brand equity is important, no matter what stage your business is at. You must create a positive image in consumers’ minds if they are to become repeat customers or a part of your referral strategy. If you achieve this, your brand will strengthen and you’ll see real growth.

Waiting to see your brand image. If you don't have one contact SPAAR INTERNATIONAL to create one in line with your vision and guide you also.

Thanks for reading and sharing.

©️Amb. Possibility Akpan, MNIM

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18/02/2020

07/01/2020

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03/01/2020

5 TECHNOLOGIES HOTELS SHOULD BE INVESTING INTO FOR 2020.

1. Website Simplicity
A recent study of 2,000 people conducted by Guestline, looked how people book their hotels and the factors involved in room cancellations. It was found that over a quarter of people take into high consideration the quality and detail of a hotel's website (such as photographs and information) before making a direct booking online1.

Investing money into your websites simplicity in all stages of the guest journey will help acquire traffic, increase conversion rates and drive more people to book direct. The simplicity of website use (including less re-directs) will result trustworthiness of the potential customer. Hotel management may also find reporting efficient with less redirect windows to consider.

Andrew advises; "The booking ecosystem will be an interesting area of change in 2020, as Airbnb, Google and others start to enter, many of these will create options to drive people to your website but also more competition. If you can show your offering more easily, make booking slick and then integrate it to an onsite experience it will encourage guests to use you for converting their search to a reservation."

2. Upselling Tech to boost profitability
Carefully choosing the right time to upsell a guest's hotel booking is crucial to a hotels' additional revenue stream. After a booking has been made there is a fresh window of opportunity to upsell, as guests will reflect on their budget spend and perhaps feel there is room to spare on extra luxuries and see what they may be missing out on.

Andrew believes;"Upselling is an important aspect of hotel revenue. Upselling is also a conversion killer if done at the reservation confirmation stage. Don't mistake upselling with configuration, configuring a booking needs to happen but upselling can happen subsequently through nudge marketing via emails, push notifications or even on arrival at the hotel. Many systems are developing to help you keep conversion rates high but total revenue retained."

Technology such as Upsell Guru offer options to schedule notifications and alerts through different communication platforms to guests after collecting their details from a booking. The added value can range between upgrading to meals to booking a premium room.

3. Secure payment systems to increase consumer confidence & credibility
Where credibility issues are concerned, payment systems are the leading topic. It made headlines in 2019 for fake bookings, hacker attacks and unsafe jobs in hotel operations.

An investment in secure payment gateways protects the data of hotel guests, and the hotels credibility. For example, if a guest was to see the wrong value on an invoice, they may become wary of how secure that hotel's payment system is and look elsewhere.

A secure payment gateway also checks in advance whether the credit card exists and is covered which could reduce chargebacks. This way, the hotelier can make sure that the booking via the credit card is genuine and at the same time protect the guest's data.

"Hotel payments have adjusted to new legislation and as the move towards a more integrated guest experience aspects through check-in and checkout, invoice retrieval march on the payment aspects will have to dovetail seamlessly and accurately. Nothing erodes trust like a rekeyed payment amount being wrong and the guest having to challenge it"says Andrew

4. Self Service and Automated Check-in
In a recent survey of 2,654 consumers by the Travel Leaders Group, 78% of respondents said they would like to see self-service kiosks more widely available for check-in2.

Consumers are becoming accustomed to self-service systems as they appear across retail, leisure & transport industries. Another study, suggested that guests favour hotel self-service check-in's as it provides a faster service, results in more privacy and waiting time/lines are much shorter3.

Hoteliers could consider how their core data system might be centralised as much as possible in order to make it a less complex & more efficient guest journey from booking to check in. Technology such as guest portals can be efficient for customers to retrieve their invoices quickly and will centralise all the data for the hotelier.

Futuresens, a self- service solutions business who currently integrate with Guestline provide their insight.
The Research team says that such automation relieves the hotel of many now 'unnecessary' costs and headaches:"In partnership with Guestline and specifically their Rezlynx PMS we have reduced customers front desk operations costs by up to 40%. Automation of many traditional reception tasks such as check-in, products and services upsell, key-cutting and payments are now available 24/7 and they never call in sick!"

5. An omni platform which centralises operations
Payment processes are often a slow funnel for hoteliers with multiple payment gateways and PMS providers, data stored in different areas and revenue segregated. Month to month reporting can be difficult and productivity of staff slowed.

Omni channel platforms enable you to centralise operational systems, take back control of your revenue flow and transparency of guest data, so hotel management can focus on creating the best experience for customers.

"Having all the data in one system makes presenting and acting on the data much more effective. For example, Amazon don't deliver packages 100% of the time but the rest of the experience they control, making it so easy for people to buy from them. Hotel systems will need to move this way in order to provide similarly strong guest experiences." Says Research Director

To implement any of this in your hotel, kindly message us at [email protected] or use our message button here.