Believe It or Not? We can Use Hats to Think, Innovate and Make Decisions!
Hats are a very common daily accessory. Do you know their uses?
Functionality
Hats provide protection against harmful sun rays. They can help us to conceal a terrible haircut or to hide our face to avoid being noticed by someone.
Standing out from a group
With a hat on our heads, we will stand out from a group of people. This can work well for us if we love standing out when in a big crowd. We will get lots of attention and even make lasting friendships from being unique.
Shape and frame our face
Wearing a hat will help to make our unwanted features less noticeable. We can also highlight the shape of our face depending on the hat that we choose.
Highlights any outfit
When we add a beautiful hat to our dressing, we will look more attractive as it will enhance our appearance too.
Boosts confidence
When we wear hats that are less common, say fedoras and wide-brimmed hats. Since people are not used to these looks, it will make us appear confident and brave in our style when we put on a hat.
HATS NOT ONLY HAVE THESE FUNCTIONS.
Indeed, we can also use hats to think, create, innovate and make decisions.
The "Six Thinking Hats" is a method of investigating an issue from a variety of perspectives but in a clear, conflict-free way.
They can be used by individuals or groups to move outside habitual ways of thinking, try out different approaches, and then think constructively about how to move forward.
The Destiny Team
How can We Change Our Mindset to Tide over Economic Crisis?
Sometimes it could be difficult for leaders to see the light at the end of the tunnel when living through a painful economic crisis.
A person’s ability to motivate, energize, and inspire themselves or others during challenging times is paramount.
This moment in history will require leaders to have a fundamental shift in their thinking if they are going to remain relevant.
How can We Change Our Mindset?
We need to shift from a competitive mindset to an abundance mindset. Let's think about what we have and not what we lost.
What is our story? Where are we going? How do we want people to remember us?
Dr. Edward de Bono, a psychologist, and philosopher came up with a famous thinking technique called the Six Thinking Hats Methodology.
He used it in his work advising government agencies and he programmed it to be a practical tool for everyday problem-solving.
The Six Thinking Hats Methodology is also called the "lateral thinking" approach, a method of solving problems in a creative and surprising way.
How to Work with the Six Thinking Hats Methodology?
The technique allows us to think in six different directions.
Imagine we are in a group and we are going to do a brainstorming session.
By wearing one hat at a time, a synergy can be created between the people participating in the
session. And on top of that, it stimulates creativity and expands the scope of solution-based thinking.
Blue Hat - the blue hat is used to manage the thinking process, think of questions like, "What is my goal?" and "What process will I use?"
White Hat - the white hat is about factual information and data, there should be no speculation about it. Think of statements like, "Unemployment has risen, there is a need for opportunities" or "What information am I lacking to start this business."
Red Hat - the red hat is about feelings and emotions without justification or prejudice. Think of our gut feeling or feelings and emotions associated with our ideas.
Black Hat - the black hat is about what we need to be careful of, or be cautious of. "What is my competitor matches my lower price?" or "Why will this not work?" are examples.
Yellow Hat - the yellow hat is for positive thinking, or benefits in the ideas.
"If there is an economic upturn, then it is feasible that customers will spend even more." - this is always the best scenario needed.
Green Hat - the green hat is for creative thinking and new ideas. "What other solutions can I think of? or "If I am successful, how can I grow on my success?"
Can you master these hats?
Hats in Action
Let's use an example of a river that only has a few bridges to cross and we are looking for a solution closer to where we are.
"Blue hat" comes up with an idea or proposal to build a new bridge in the area where there is not one yet.
"White hat" comes up with the cost of the bridge, the timeframe needed and the cost of maintaining the bridge.
"Red hat" would think of who a bridge like this would make happy i.e. some people shortening their commute, and who would be unhappy about it i.e. residents in the immediate area where traffic will increase.
"Yellow hat" will point out the time that it would save, and how commuter-friendly it would be.
"Black hat" will point out the high costs and higher traffic in the area.
"Green hat" will suggest renting a boat or building a ferry instead.
The main negatives were avoided through this process, and a well-thought-out concrete solution was thought of.
Do you have some new insights from the exercise?
Conclusion
One of the most useful tools to use in our life as an entrepreneur is the Six Hat Thinking Methodology. At its core, it helps us to make better decisions by preventing our natural biases from getting in the way. It also encourages us to consider a wide range of perspectives, including those that we would normally avoid.
The Destiny Team
How to Operate and Optimize a Successful and Sustainable Business?
The last few years have been some of the most testings from a business point of view.
During the pandemic, a survey showed that more than 40% of all businesses had directly been affected either during, or as a result of Covid restrictions.
The knock-on effect means that there is on average a 3% greater chance of business closure than before the pandemic.
For new businesses, this can hurt even more.
Every year, thousands of startups are launched.
According to recent studies, about 90% of all startups don't succeed, and five out of seven fail within the first 18 months.
If you want to start a successful business, you should know what these businesses did wrong.
In success, there is certainty — but in failure, every excuse will be possible. We have broken it down into the 7 most important fundamentals and secret strategies that will give you the best chance for success.
1. Be Honest With Yourself
It is important, to be honest about where the business really is. Do not try to sugarcoat or put a spin on the facts. Nobody likes to hear that their baby is ugly, but this is exactly what entrepreneurs need to hear in order to succeed. As many entrepreneurs have learned, the road to success is often paved with mistakes and disappointments.
"The biggest mistake new entrepreneurs make is that they are not honest with themselves about where their business is," says Donna Myers, CEO of Myers Public Relations and Marketing in Virginia Beach, Virginia. "These same entrepreneurs will take on any client without vetting them first, which could lead to financial ruin."
2. Find a Way to Meet Your Client's Needs Better Than Anybody Else.
No matter where you live, there are people who need help. Whether it is a business owner, a single parent with two kids, or someone trying to get out of debt, there are people in every industry with needs that aren't completely met by available products.
If you want your business to succeed, you have to be able to meet those needs better than anyone else. One great way to do that is to find a niche market nobody else has addressed.
This doesn't mean you have to start from scratch. There are tons of successful businesses that started with an established product or service and then expanded into new areas. For instance, the first McDonald's restaurant was originally just a hot dog stand in San Bernardino, California. The company expanded into hamburgers and cheeseburgers before expanding beyond the Golden State altogether.
But even if you didn't start with what most people would consider a "niche," there are still plenty of ways you can grow your business without having to start from scratch.
What are you doing that is different than everybody else?
You do not have to go too far out on a limb to do something extraordinary. You can be extraordinary by just giving the best customer service, knowing your customers better than anybody else, or having the best product knowledge in your industry. Many times, the simplest things are what set you apart from the competition.
3. Use Marketing That Delivers High Value To Your Customers
Most business owners are familiar with the idea of marketing, but they often have a difficult time figuring out which avenue to use to best market their products and services. Some businesses will spend hundreds of thousands of dollars on traditional advertising, while others will opt for new forms of marketing such as social media or email marketing.
No matter what type of marketing you choose, it is important that you focus your marketing efforts on delivering value to your prospective customers. After all, no one wants to hear about how great you are - they want to know what is in it for them
What is the best way to do this? You need to find a way to meet your client's needs better than anybody else. If you can accomplish this feat, then you will be well on your way toward creating an effective marketing campaign that will generate more leads and sales for your business.
4. Perfect Your Sales Systems
The next piece of the success puzzle is your sales system. Your sales system is the process you use to convert your contacts into customers. It is how you get people to trust you and buy from you, using your email list, social media followers, or other marketing channels.
Your sales system has two parts: a front end (the beginning of the customer relationship) and a back end (after the customer buys). Depending on what kind of business or product you have, there may be just one step in each part of your sales system. Or there may be multiple steps.
If you are selling a high-ticket item like an online course or a consulting package, for example, you might attract leads through Facebook ads or content upgrades on your blog posts. You will then nurture those leads by sending them emails that build credibility and trust until they are ready to talk with you directly over the phone. Once they've joined your program, they will go through a series of follow-up emails and calls with information about how to get started and continue getting the most out of it.
For a lower-priced product like an ebook or printable planner, the process might be much simpler — someone sees an ad for your product, clicks on it, and buys it. Once the purchase is made, the after-sales service like delivery time and quality of the product will be very important if you want that customer to return and spend more of their hard-earned money with you.
5. Invest in Good Legal Council And a Good Accountant
The first piece of advice that any entrepreneur should have is to invest in great legal counsel. This is going to be the person or firm that helps you set up your business, and will give you legal advice as your company grows. You will want someone who specializes in small businesses and can help guide you so you do not run into issues down the line.
It is important that you have a good accountant too. This is the person who will help with your taxes, and file them. They can also give you advice on how to save money on your taxes, and make sure there are no errors on your end when it comes time to pay taxes.
6. Optimize & Maximize Your People & Processes
Like any machine, your company is only as good as its parts. If you are not getting the results you need, it is time to audit your people and processes. From there, it is a simple matter of optimizing and maximizing them. You will need to:
- Automate what you can
- Hire what you cannot
- Track everything
- Tie everything together with KPIs
These may sound like soft skills, but they are essential for competitive advantage. Why? Because a well-trained workforce that can collaborate effectively on continuous improvement is the key to solving problems faster than your competitors. You can work on improving your processes or fixing mistakes once or twice a month if you want — or every day. It is up to you — but your competition will be working to improve every day, so do not expect them to stand still.
Consider what it would mean if your employees could solve problems more quickly at every step of the process instead of waiting until the end of the day to go home, then coming back tomorrow to fix it:
You'd be able to deliver value faster than your competitors because you'd eliminate wasted time and effort.
7. Make Your Customers Love You Openly
The word "customer" most often refers to a purchasing customer, but it is important to recognize that every person who comes in contact with your business or product is a customer. Some may be people who use your products instead of buying them. Some may be people — such as vendors, freelancers, and employees — who work with you instead of for you. And some may be people who have never bought anything from you or used any of your products.
A customer's goodwill toward your company isn't something you can buy at any price. You have to earn it over time, by showing that you care about and respect the people around you.
Goodwill is an intangible asset, but one with a high return on investment. There are multiple ways to increase it, including:
- Being honest and keeping promises;
- Making good products that satisfy customers
- Being consistent with policies and practices
- Respecting customers' time
- Having a sense of humor about yourself and your company
- Having sympathy for customers when things go wrong
- Offering free samples
Conclusion
This list is a blueprint for how to start a successful business. If you monitor your business and make sure that this list is constantly being improved upon then you will be successful regardless of the economic environment. It may take some time but with dedication, self-improvement, and hard work, your business can grow rapidly.
The Destiny Team
Is the Economic Winter a Crisis, or an Opportunity?
INTRODUCTION
The coronavirus crisis turned the global economy into the deepest recession since the Great Depression mostly felt throughout 2020.
With estimates that world gross domestic product (GDP) had fallen by 3.9% in the first quarter of 2020. Major economies such as the US experienced more than 36 Million people filing for unemployment and experiencing a post-war record rate of 14.7%.
There is no doubt that the coronavirus is to blame for this crisis. But it can also be seen as a catalyst for a deeper crisis that existed before the pandemic struck.
The global economy had been on a downward trajectory for some time, even before the virus hit, thanks to a confluence of factors including rising inequality and sluggish productivity growth.
Currently, the turmoil in Eastern Europe has increased fuel and grain prices globally causing a knock-on effect of increased inflation throughout the globe.
With the economic winter that we are currently facing, many of us have been hit hard.
We are working much less and some may have lost their jobs.
Many people will fall into a depression, which is understandable. But there are ways to fight it...
WHY IS IT SO BAD?
The 2008 recession was the biggest economic crisis post-World War II until COVID. It led to a slump in the stock markets and a collapse of real estate prices.
The world economy shrank from $60 trillion to $51 trillion as a result of the crisis. Millions of people lost their jobs and homes during this period, particularly in Europe and America.
The coronavirus pandemic & war in eastern Europe has the potential to be far more devastating to most people, with the effects powerful enough to leave their mark far into the future.
An unprecedented wave of furloughs, layoffs, and pay cuts, has quickly ushered in an economic winter that seems unlikely to end anytime soon.
Hong Kong, despite being the tenth largest trading power and 3rd-largest financial center in the world, is suffering an economic winter. This is due to the combined impact of the COVID-19 outbreak and slowing Chinese economy, the trade war with the United States, decreased foreign investments, and tight credit conditions forcing the Hong Kong Monetary Authority to increase interest rates.
The Hong Kong General Chamber of Commerce forecast in mid-February that local retail sales would shrink by 2% this year, compared with a forecast of 5% growth at the end of last year; the unemployment rate was revised upward from 3.7% to 4.8%; merchandise exports grew by 6%, down 1 percentage point from the original forecast.
WHAT CAN WE DO?
If there’s a downturn, it makes sense to have an emergency financial plan in place. But companies with great products and services that customers value also have a good chance of thriving in any economic climate, said Philip Evans, a senior partner at BCG who advises executives on strategy. “Businesses that provide fantastic value to their customers don’t necessarily go away when things get tough,” he said.
Evans pointed to Apple as an example of a company that has excelled financially even during past periods of economic weakness. “Apple is not just about selling you stuff, but about the experience of using the stuff — the joy and pleasure of all these different devices working together. That’s what people pay for,” he said. The same goes for other successful brands such as Disney and Amazon — they offer experiences customers love and are willing to pay for regardless of the economic climate.
Whenever there is a crisis, people lose money, and sometimes they even lose their homes. However, this is also the time when many successful people amass fortunes.
Why? Because the media and the general public are always focused on the bad news. The media exploits negative stories because this is what attracts their viewers.
For example, when stocks go down 30%, most news outlets will focus on the "horror" stories of how people lost everything in the stock market.
But here's the thing: whenever stocks go down 10%, 20%, or 30% it means that they are on sale. In other words, if we had $100,000 to invest and we buy $100,000 worth of stocks that we believe will be good investments over time, then our money will grow. But if we wait until stocks go down 30%, then we can buy $140,000 worth of those same stocks for $100,000!
THAT IS AN OPPORTUNITY!
Netflix innovated ways to continue to appeal to its audience during the 2008 recession. It was during these times that the brand introduced a new product (the streaming service) and continued to grow subscribers and memberships. They were able to survive the recession because of their innovative strategies.
The current COVID-19 pandemic in Hong Kong has led to the permanent or temporary closure of many stores, but the local popular lifestyle chain AbouThai is going against the tide with the launch of a convenience store concept recently. They opened their first convenience store in the Causeway Bay central area in early March.
The chain — which has 24 department stores across the city, mostly in shopping malls, selling snacks, and personal care and lifestyle products from Thailand — is actively developing street shops and seeking investors, and invites Hong Kong people in related industries to join. AbouThai also revealed that it will soon issue a franchise so that everyone in the city has the opportunity to become a part of the group. In just 5 days, more than 3,000 inquiries were received about the franchise.
Why do they have the guts to expand in this economic winter? It is because they understand that Hong Kong people need to buy a lot of daily food for stockpiling during the outbreak to cope with the sudden need for isolation at home or the upcoming universal testing. They see this as an opportunity to expand against the market.
CONCLUSION
And so there we have it: the three basic steps to surviving an economic winter, or better yet, thriving!
First, prepare for the unavoidable. While we can't predict when an economic winter will come, we know that it will come at some point. So be prepared and have a financial plan.
Second, look for opportunities that others may not see.
And third, focus on the things we can control. If we feel like we don't have a lot of control over our current situation, then be creative and think of ways to change it.
There's always going to be someone who sees the glass as half full while others see it as half empty. Those who see opportunity in tough times are the ones who will survive and thrive in them.
The Destiny Team
Mental Wellness is Under Attack, Especially for Business Leaders
According to World Health Organisation, mental health is "the state of wellbeing in which every individual realizes his or her potential, can cope with the normal stresses of life, can work productively and fruitfully, and can make a contribution to her or his community".
Mental wellness is now under attack, especially for leaders. Many leaders are struggling with mental health challenges and yet, hardly seek help or acknowledge any issues. In many cultures, leaders are expected to be strong and not show any vulnerability and this is driving leaders to worse mental spaces. Mental health challenges can take an individual from being competent to simply trying to survive. This affects leaders as individuals, their families, and the organizations they lead.
Here are some of the mental health challenges facing leaders.
Uncertainty
There is so much uncertainty in the workplace and this is becoming stressful for managers and leaders. With the recent pandemic, for example, no one knows what new issue will sprout and leaders are facing anxiety. This is especially because the occurrences such as a pandemic are way beyond a leader’s control and they can’t do anything about the situation. As a result, they develop anxiety, which can lead to physical problems such as hypertension.
Anxiety from distractions
We live and work in a very distracted world. There is a barrage of messages, chats, calls, and online meetings. This causes anxiety as the distractions are exhausting and often lead to poor performance and burnout. Our work environment has become a place where everyone is required to stay connected. Should one go offline, they could miss out on opportunities and leaders have to be reachable by their workforce which makes them more prone to anxiety resulting from distractions.
Loneliness
It is lonely at the top and many leaders can attest to that. Working long hours is expected to have all the answers and having to take care of everyone can be exhausting. Leaders sometimes feel isolated and feel that they cannot show their weaknesses and struggles to their employees. This loneliness is mentally exhausting and many leaders turn to habits such as alcoholism to cope.
Burnout
There is so much to do with so little time, especially for leaders. Everyone is looking up to leaders for solutions when they face challenges. Many have little time to take care of themselves, recuperate, and often suffer burnout from the stresses of work.
Balancing demands outside the workplace
Leaders are mothers, fathers, sons and daughters, brothers, sisters, and friends. Leaders have demands outside their places of work that they need to meet. Juggling work demands and home demands can be too much for some and it often leads to stress and the feeling that they can’t do it all.
How to help leaders who are suffering from mental health challenges?
To appropriately deal with mental health issues facing leaders, we first need to destigmatize mental health. Leaders also need to drop the mindset that they can "tough it out" since ignoring mental health issues will not make them go away. When we make it a norm that even the best of us can suffer from mental health challenges, the stigma dissolves and many will be open to seeking help. By encouraging leaders to be more vulnerable, we admit that are all human and we are bound to face challenges now and then.
Secondly, organizations can open channels through which leaders can seek help. There are mindfulness programs that help leaders address their mental health problems. These programs help us become centered and explore within ourselves to understand what we are going through and what we can do about it. When leaders model the behavior of seeking help, the rest of the workforce will be open to the idea as well.
Conclusion
Uncertainty, anxiety, loneliness, and burnout are some of the leading causes of stress among leaders. Traditionally, leaders are expected to have it together and not fall apart or ask for help. Thankfully, that school of thought is being challenged and leaders are being perceived as humans who have weak moments and can seek help. By reducing the stigma surrounding mental health, we can all seek help and learn techniques to help reduce stress and burnout.
The Destiny Team
7 Effective Ways to Lighten Stress and Enhance the Mental Health of Leaders
In an increasingly stressful workplace, mental health is a huge challenge for leaders. There is a need to find a way to reduce stress and enhance mental health in the workplace. Here, we will explore various ways leaders can encourage mental health at the workplace through distressing and fostering their mental health.
Encouraging breaks
Our culture needs to stop glorifying being busy which often leads to burnout. Being busy does not necessarily mean one is being productive. Leaders should normalize taking breaks and not beat themselves up for taking some time off and focusing on their wellbeing. When leaders set this example within the workplace, others are likely to follow suit.
Build a support system
Often, leaders are stressed due to the loneliness that comes with their position and nature of work. By building a support system, leaders learn to share, talk to each other and support each other while going through tough times. As a leader, it is important to surround yourself with people who help you stay grounded and that have a calm presence.
Step away from the situation
There are situations that you need to step away from once you realize they're bringing you stress. It’s important to understand stress triggers when they are about to happen. Once you feel that you are getting overwhelmed, you can step away from the situation for a while, clear your head and approach the situation afresh.
Seek the peace of mind from within through meditation and mindfulness
Through meditation, mindful breathing, and mindful seeing, leaders can seek peace from within such that they become calm enough to deal with the hectic world surrounding them. Here are some of the mindfulness techniques they can use to find peace from within.
Meditation
Focusing on breathing and stillness helps feel a sense of calm, peace, and balance. This technique has a positive impact on emotional wellness and overall health. Meditation is a healthy practice to pursue and help handle the stresses that come with work. Research shows that the top 3 reasons why people meditate are; to reduce stress and anxiety (84%), to improve concentration and memory (53%), and to improve performance (52%) (Mellowed, 2020).
Mindful breathing
Mindful breathing helps reduce stress response and anxiety as well as helps improve emotional regulation and social anxiety disorder Hoge, et al (2013). While seated in a calm position, deep inhalation and exhalation relaxes the mind, calm the muscles, and bring peace to a person.
Mindful seeing
This helps look at things and take in the colors, patterns, and textures. Mindfulseeing helps you become aware of your surroundings and become more present. This can help in emotional regulation. By focusing on items, we become less overwhelmed by what is around us and gain a sense of calmness. This is borrowed from Fleming and Kocovski’s treatment plan and helps handle anxiety (Fleming & Kocovski, 2007).
Conclusion
As stressful as the workplace gets, leaders, can find a way to reduce stress, manage anxiety and maintain their mental health. A lot of leaders are incorporating meditation into their daily routine and realizing massive benefits from it. Among other ways to deal with stress, mindfulness helps regulate emotions, improve productivity and creativity, and brings overall calmness in a highly distracted world.
The Destiny Team
Reference
Fleming, J. A., & Kocovski, N. (2007). Mindfulness and acceptance-based group therapy fr social anxiety disorder. Cognitive and Behavioral Practice, 279-289.
Mellowed. (2020, January 2). Meditation statistics: How& why people meditate in 2020. Mellowed.
Hoge, E. A., Bui, E., Marques, L., Metcalf, C. A., Morris, L. K., Robinaugh, D. J., Worthington, J. J., Pollack, M. H., &Simon, N. M. (2013). Randomized controlled trial of mindfulness meditation for generalized anxiety disorder. The Journal of Clinical Psychiatry, 74(08),786-792. https://doi.org/10.4088/jcp.12m08083
How Can A Leader Give Positive Criticism To His Teammates?
Giving and receiving criticism is one of the most challenging activities in the workplace.
Many don’t take criticism well and this can always lead to arising conflicts at the workplace.
Giving criticism, therefore, is one of the most essential skills a leader needs to learn.
By learning how to give criticism, a leader lets the team member know that that criticism was necessary so that certain improvements can be made.
So, how can a leader give positive criticism to his teammates?
Use The Feedback Sandwich
This is one of the most effective ways of giving criticism to employees.
A feedback sandwich involves starting with positive feedback, a negative one, and ending with a positive one.
For example, when giving feedback, a leader can say, “What you did with A is very good” then follow it up with, “But you should improve with B”. The feedback sandwich then concludes with. “Finally, C was very good as well”.
By using a feedback sandwich, the criticism received does not feel that everything they did is being criticized.
They feel that some things were done right although there is a place that they need to improve.
This sandwich helps them not feel attacked and be open to receiving criticism and work on improving in areas where they went wrong.
Focus On The Situation, Not The Person
When giving criticism, it is essential to focus on the situation and not the person.
This helps the person receiving criticism not feel attacked.
For example, it is important to say, “Your presentation lacked a few elements and maybe next time you can improve on this?” This kind of statement focuses on the presentation, not the person.
However, when you say, “You always give presentations that are not well researched,” you are focusing on the person and this makes them feel attacked as an individual.
Focusing on the situation makes the criticism less personal and the person being criticized is likely to listen and be open to change when they don’t feel attacked as a person.
Be Specific
When giving criticism, be specific on what areas are under criticism.
When you generalize information, an individual might not understand what is being criticized and therefore don’t know where to improve.
For example, instead of saying, “your presentation was not well done”, be specific and say “Your presentation was too short and I felt you did not research your references well”.
This kind of specific feedback will help the person being criticized understand what area is being criticized and work on improving on this specific area.
Such criticism is likely to yield more positive results than generalized criticism.
Give Recommendations On The Way Forward
The whole reason a leader gives positive criticism to a teammate is so that they can improve.
To help this person improve, therefore, it is important that you give them recommendations on the way forward.
This way, you can help this person work on how they can do better in the future.
For example, make suggestions such as “In the future, consider researching for your presentation and getting more accurate sources.
If you have a problem with this, you can come to me and I can guide you through it”.
This way, you have played the role of a leader well by letting the team member know that they can come to you to help them perform better in the future.
Not only have you given positive criticism, but you have also offered a valid and viable solution for their future.
Don’t Make Assumptions
It is your role as a leader to try to understand why this person behaved the way they did or why they fell short in their performance.
As a leader, don’t assume that they simply do not care about their results or their performance.
Don’t assume that they did not meet the goal because they are not good at what they do.
When offering feedback, therefore, ensure you ask questions about why there was a failure in performance so that you can understand and try to help them through.
Consider The Right Timing
Giving and receiving criticism is a sensitive issue especially to the receiver.
It is therefore important to ensure that the timing is right when you are giving feedback.
For example, if a person just made a presentation, it may not always be a good idea to criticize them in front of their colleagues.
At this time, they may be too concerned about not looking bad in front of others that they pay little or no heed to the information you are giving them.
However, you can find a time when they are alone or when they are feeling more confident and call them aside and give them feedback about their work.
The right kind of timing will ensure that the person does not feel attacked and they will listen and take advice on how they can improve in their work.
The Destiny Team
Only Innovation can Save the Business World in the New Normal
The Covid-19 pandemic has taught us that even the most comfortable organizations can be shaken to the core. Every organization has been affected in one way or another. Despite the negatives brought about by the pandemic, smart organizations are already taking lessons taught by the situation and running with them. Smart organizations have learned that they could always improve how they get things done by tweaking a few things within.
While we cannot prevent things beyond our control in the new normal, we can prepare our organizations to survive through such events. One such way is through innovation. The more we innovate on products, services, customers' experiences, and such, the more organizations can withstand adversity.
Innovating on products will help reach out to wider customer segments and contribute to organizations’ growth. Innovating on services will place the organizations in better positions when it comes to efficiency and relationships with customers. Overall, innovation will always improve the business and put the organization in a better competing position.
With this in mind, as many ask how they could put their organizations in better positions during and after the Covid-19 era, let us look at how you can generate innovative ideas.
How can your organization get innovative ideas?
Empowering employees
When employees are empowered to speak up, express ideas and opinions, creative minds are created. Employees in any organization come face to face with customers and experience firsthand the challenges faced by customers. They, therefore, have practical solutions on how things can be done differently at their individual levels. By allowing them a sense of freedom to speak up or innovate at their level, the organization gets wonderful innovative ideas that can improve processes and services. On the other hand, stifling employees and not allowing them a sense of freedom only turns them into robot-like people who only do as told and don't make any efforts to improve their situations.
Adjust your communication channels
When employees are taught communication only travels down the hierarchy, they learn to only receive orders and do as told. By adjusting the communication channels within the organization, you allow everyone to be a team player. You make everyone feel heard and encourage ideas.
Adjust your leadership style
Lead your people in such a way that employees are not afraid of being penalized for making mistakes. Give them a chance to fail and not to be afraid of creating and innovating. Develop an accommodating leadership style in which you are not the only one with answers, but you nurture others to help you in developing ideas. Be a leader that doesn't hire people who follow your every order but people who complement your strengths and are good in areas you don't excel in. Participative leadership will make innovation not only a leader's initiative but everyone's role.
Invest in the education and creative nourishment of your employees
Demonstrate to your employees that you appreciate their innovativeness. Telling your employees that they are free to come up with new ideas is one thing, demonstrating to them is another. Take time to invest in their education so that they become empowered. Enroll them in courses that can improve their thinking and perspective. Enroll them in coaching programs to help them learn how they can always learn to improve their place of work by coming up with great ideas.
Conclusively, a large part of innovation lies in the hands of employees. By empowering them, giving them the right education and coaching, and allowing them the freedom to create, you are supporting innovation and growth within your firm. Innovativeness lies not only in the hands of the leaders but in the hands of everyone within the firm who can improve their area of operations and therefore the whole organization.
The Destiny Team
Blind Spots Are Our Blessing If We Know How To Make Use Of Them
Where there is sunlight, there is shadow.
It is our survival practice to get close to the light and refuse to the darkness.
When we understand things in the world, we should explore and discover from multiple angles and aspects.
Darkness itself contains a lot of information that we can use as a reference and reminder, such as our frustrating experience, competitors, enemies, abandoned beliefs, and values.
Yes, we know that they are our fears, pains, and scars.
Over the years, we try hard to escape from our fears, pains, scars and they block the way we see the world, and they gradually become our blind spots.
We are living an incomplete life because we unconsciously ignore other sides of our cognition.
Think about it, is it an ideal way to be that? What is the impact on us?
The Destiny Team
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New Business Strategies for Leaders and Business Owners after the Post-Covid-19 Era
“The historic challenge for leaders is to manage the crisis while building the future.” - Henry Kissinger
It’s is a given fact that many businesses will have to change their way of doing things post-Covid-19 era. The Covid-19 pandemic has been one of the most unanticipated disruptions in the business world. It has rewritten the rules by which businesses are run.
It’s possible that some businesses will require less working space and adopt more virtual operations. It is also possible that some services will become obsolete while others gain higher importance. New partnerships and collaborations will arise to gain support to businesses in different areas of expertise.
Each business has struggled to operate during the pandemic in its own way. However, one thing that all leaders can agree on is that they would need to come up with new strategies to handle their businesses after the pandemic is over.
Here are some insights for leaders and business owners after the Covid-19 era:
- Building resilience and versatility
For businesses that have managed to maneuver through these difficult times, resilience has been a crucial ingredient. Businesses that have built versatility and agility within their workforce have handled the challenges faced without breaking down from all the strains. Leaders ought to realize the need to build resilience within their workforce. They have to make resilience not a destination but a way of being. Leaders have to encourage building attitudes, beliefs, versatility, and structures within the culture of the organization so that it can be prepared for unexpected changes.
- There has to be a shift in mindsets
Leaders will be forced to shift their mindsets and envision scenarios that would not have occurred to them before. If a business was stuck on some norm of ‘this is how we do things’, the pandemic has shown that even the strongest business structures can be shaken. Changing mindsets will help leaders look at different ways they can grow their organizations and prepare for tough times hence help them developing resilience.
- Embracing digital transformation
Businesses have realized the importance of digital transformation and how much it can come in handy in times of crisis. Companies with better digital innovation have coped better in the months following the pandemic. Some were still lagging behind since they had not perfected their digital operations such that things could be run virtually. Introducing employees to virtual meetings for example, and embracing substituting some operations with digital solutions will prepare the workforce to use technology more often and not feel inconvenienced.
- Changing customer expectations
The pandemic has changed everyone’s experiences, especially the customers. The businesses will have to rethink the way they design, communicate, and approach their customers. They also have to rethink convenience and prioritize digital solutions. For example, the pandemic has taught customers that there is so much that they can achieve virtually such as shopping, and are likely to carry these habits into the post-Covid-19 era.
- Taking a closer look at employee wellbeing
Every organization’s workforce has felt some form of challenge. First, working from home has been a whole new experience for some. For others, it was really stressful changing the normal such that some employees experienced depression from the isolation. This has called to the attention of leaders to take a closer look at the mental health of employees. Employees that work virtually would need more support to cope with loneliness. This creates a need to look at establishing a human-centered, systems-minded approach to support employees and take their well-being into better consideration.
- Over-invest in communication
You can never communicate too much. As organizations shift from face to face and encourage virtual operations, communication strategies will change. As a leader, heed your communication styles. Develop a style that is deliberate and open and ready to have tough conversations. Make communication at the right tempo and frequency so as to keep everyone on the same page. Open communication will make employees feel supported and encourage them to bring up issues of concern as they work virtually.
- Crisis management
Leaders have to take a closer look at their abilities to manage crises. Some crises, such as the one that has befallen most businesses recently, have no formula and no one really knows how to navigate such situations. Leaders have had to find their way around the crisis. Some successfully, some through imitation, and some are still struggling. In the post-Covid-19 era, leaders will need better crisis handling skills and envision worst-case scenarios and how to handle them.
- Less reactive and more proactive
What was your reaction to the pandemic as a leader? While you could have reacted and cried woe unto me, some were being proactive and taking this as an opportunity to reinvent themselves. Leaders have to learn to take moments of adversity as an opportunity to picture a successful future, energize their teams, and mold them in such a way that they can withstand most forms of adversities. A good number of leaders have realized that their businesses will never be the same again and have come up with solutions to create a new and better reality for their workforce.
- Seek support from other leaders and experts
No one has the magic formula on how to navigate a pandemic. However, by seeking support from others and experts, leaders will stand in better positions to handle challenges that are thrown their way. There are some programs being offered to help leaders navigate the workplace post-Covid-19 era. Seeking such programs and gaining insight from experts can help leaders place their businesses in a better position to manage challenges in the future.
Conclusion
Conclusively, it is likely that the business environment will not be the same as before the post-Covid-19 era. The sooner leaders and business owners realize this, the sooner they can prep their organizations for an alternative future.
The Destiny Team