Should you job search while trying to Launch a Consulting Business

While launching one’s own management consulting practice, professionals often face the dilemma to do with their personal lives. A new practice requires patience and financial investment and thus people often look to pursue jobs alongside. But to succeed in own consulting, the product or service offered needs to be unique. One needs to connect with large number of potential clients and customers. The business innovation must include value backed services. Corporate strategy must be aimed at long term growth rather than short term gains. Also five pillars of marketing must be incorporated which are clarity, communication, vision, expertise and collaboration.
    

5 Reasons why Chinese Outbound Tourism will continue to grow even in Times of Crisis 

China is flexing its economic power in every field and outbound tourism is no exception. As per market research, some trends clearly point out to China’s ever increasing impact in this field in spite of a recent economic crisis. The crisis has affected a large populace but not the top 5% of earners who are the primary target for trips towards destinations such as California or Phuket. China is also experiencing terrible environmental hazards, and those who can afford wish to escape the same to cleaner and safer locales. Beyond money, getting visas was tougher until recently, but now the visa regimes internationally favour Chinese travelers. Places such as USA, Canada, Guam, South Korea, Australia and parts of the EU region are prominent examples. Hong Kong and Macau are losing their appeal among the upwardly mobile Chinese mainlanders who now wish to travel beyond the confines. Finally, international travel now involves a lot of prestige value in China. 

 3 Things that will eventually kill your Business 

While some businesses succeed, many fail. Some common denominators have been found which form the recipe for ending enterprises. The business model defines the product and its delivery the organization is targeting. Yet if it is too narrow in definition or not implementable, then in the long run it won’t work out as was the case with Xerox. In case a strong organizational culture goes missing, remote ends of the scale cannot be held together by the leadership. Technology means that in case we succeed, returns will not be in multiples but exponents. Thus a linear view of technology is undesirable. Flexibility in organizations is far more effective than a rigid corporate strategy. 

A YouTube Talent Manager shapes the Internet’s hottest stars & maybe the future of Entertainment 

Petar Mandich is among the top stars of YouTube. However, he himself is not the face, he is simply the manager behind the scenes for Joey Graceffa who is the famous actor cum artist. However, YouTube us where unconventional stars are created overnight and firms are taking full advantage of this fad through digital marketing campaigns. YouTube’s revenue model is as yet uncertain and thus advertisements are a major source. Mandich is creating one star after another on YouTube while himself minting the fame from backstage. 

Why Leaders lose their Way 

While some leaders thrive on consistency, many others lose their way during the long, hard struggle called corporate life. As per business research conducted, five types of behavioral characteristics have been identified which can cause such fleeting but non-lasting success. Imposters are leaders who pretend to be so, yet do not have the requisite skills set. Their work involves ultra-aggression and mistrust. Rick Waggoner is an example of a leader gone astray by being too much of a rationalizer. Such people are quick to blame all external factors for failures. Glory seekers are those who seek adulation at the cost of the greater good and the cyclist Lance Armstrong is such a case. Loners are leaders who cannot work in groups and who do not heed to advise from management consulting practitioners. Finally, shooting stars are such leaders who are so ambitious that they jump jobs too soon without learning the work and also cannot manage work-life balance. 

Are you Afraid to Focus? 

Some management professionals are unwilling or fearful of focusing on their tasks on hand. This often arises due to the pressures or comforts of multi-tasking. The person has to take a call on strategic matters and see where things stand. Each activity’s revenue clock needs to be fixed. The focus must be on the end-user. Also one has to conduct business analysis on the operational efficiency or the lack of it that the actions are causing. All this has to be aligned with brand equity. It has often been suggested that a ‘good idea box’ be implemented in organizations so employees may jot down their ideas. 

Innovations in LED (Learning, Education & Development) 

The world of learning and development is undergoing major change. Knowledge is now seen as an enabler towards other more tangible end results and not just as an altruistic end in itself. Physical products are instead losing their value. Corporate training is now increasingly being worked on with a particular pedagogy in place. Newer trends are emerging such as open learning and the rise of the Executive MBA is one such example. Learning is now being customized for the end user and being linked with measurable business results. The help of business consulting is being increasingly sought after to measure effectiveness of learning modules. 

Japan converting Offices into Hotels as Tourism Flourishes 

Japan is a country which as per recommendations from tourism consulting agencies, is expecting a windfall of more than twenty million inbound tourists in the year 2020 when Tokyo hosts the Olympic Games. However, costs are extremely high and thus hoteliers have come up with a business innovation to ride them this shortfall. They are converting defunct and in some cases even extant office complexes into temporary tourist accommodations. These typically charge much less than conventional hotels. 

To create an Innovation Company: Focus on Culture instead of Cash 

According to a management consulting publication, business innovation must be wedded into the culture of the firm instead of heavy focus on incomes. Employees at the firm must be made aware of the importance that the concept of innovation has in the context of the industry. Even the final achievement targets and performance reviews must include innovation as one of the major factors to gauge effectiveness. Some instances where innovations worked in the firm must be built upon as example of success. 

Why Businesses must continue pushing the Envelope on Talent Retention 

Talent management has been identified as one of the best ways to ensure employee retention. The likes of Facebook, Apple, Netflix and IBM are especially doing a commendable job. Nurturing talent helps in building diversity among the workforce in the organization especially with regards to gender balance. This will also enable firms develop competitive advantage over competitors as greater proportion of freelance female employees leads to reductions in overhead costs where BRICS and MINT nations are already threatening global market share. 

5 Cs of Innovation Ecosystems 

In order to enable business innovation within the firm, certain Cs have been identified which must be followed. The core competency of the business must be identified and work done accordingly. A system of continuous learning via corporate training must be embedded within the system. The team members must have this zeal towards co-creation and collaboration at workplace. While innovators are credited and copycats are often frowned upon, it is the latter who often scale the service and make it usable for mass audiences and thus they too are required within the ecosystem. The innovation methodology must also incorporate partners in other countries who provide other cultural aspects to the practice. 

 8 ways CIOs can help Business Leaders understand Digital Technology

CIOs are no longer just a part of the team, but rather crucial in formulating the corporate strategy. Among their important tasks is to enable business leaders grasp digital technology. Business research has found some ways this may be done. A digital advisory board comprising of internal and external experts must be created to advice them. Examples from similar industries must be used to map the digital future. It personnel must be placed at various positions in the firm so that on the job corporate training can take place in this way. Rather the training and development wing must work closely with the CIO. Communication within the firm must be a business language understandable to all and not geeky tech stuff. Top business leaders within the firm must be taken into confidence. A coaching framework must be developed with KPIs based on the digital side for managers’ reviews. For particular trends, company staff must be exposed formally to outside personnel.

How to make a Team of Stars Work

From sports to business and movies, an oft pondered question remains that of how to make teams full of stars actually work for the benefit of the organization. It is often believed too many star names cannot work together. Yet advice from management consulting has thrown us a TER model or Team Effectiveness Review which has conducted business analysis on components of a successful team. The team must have a latent energy as well as balance within. The team’s goals must be aligned with the overall corporate strategy. The same must also be resilient against external pressures to crumble. There must be openness between the team members yet also a ruthless efficiency to execute projects.

5 ways to invest in Travel and Tourism

While the tourism industry is primed for growth, certain avenues within the same are best for investment within current scenario. Online travel providers are getting bulk of the business these days. Cruising is another industry providing a vast array of travel jobs and investment opportunities. Hotels of course will always remain the backbone. Casinos have become intrinsic to certain parts of the world like Las Vegas, Macau and Monaco, but other destinations are set to grow. Mega resorts are operated over specific activity based tourist destinations. 

Recruiting for Cultural Fit

Talent management is such a challenge that from the stage of recruitment itself, organizations are keen to select those who fit culturally at the firm. Thus some key questions have emerged which companies are tracking in various ways during the selection process. The first question involves the culture where the candidate fits best at and whether that description matches the present work culture at the firm. Also the individual’s personal values are analyzed. He/she is asked reasons for wanting to work there to see whether the person’s ambitions align with corporate strategy. The candidate is also posed questions about previous employers and best practices picked up there. Finally he / she is quizzed about the work places the candidate was not a fit at and why that happened. These questions help firms delve deeper into candidate persona before making final call.

5 Benefits of Digital Marketing Reporting Tools

Certain benefits have been identified arising out of digital marketing reporting tools. It enables minimizing of time guzzling manual tasks. Platforms such as AdWords, Facebook, LinkedIn and Twitter can all be tracked using one aggregator. Accuracy is greatly improved. One gets a 360 degree business analysis and holistic insight. It can track in-depth data on each specific campaign and product category. Marketing campaigns can then be specifically targeted in spite of alternating workloads. Costs can also be optimized and this eventually increases per unit productivity.

Travel without a Trace: the growing popularity of Sustainable Tourism

Market research conducted by bookings.com has revealed a very interesting trend. A large number of travellers these days, especially the younger lot care a lot for the environment and thus prefer sustainable modes of tourism. Also travellers do not mind taking extra step and doing further study for ideal sustainable locations. This is a practice incorporated not just with stay options but also with food, activities and excursions. With growing economic mobility among the youth in developing countries, international tourism is set to grow fuelling a great deal of travel jobs. Thus there is this need for sustainable tourism.

Consumers show an Appetite for e-Mail Marketing

Emails continue to be the most effective path towards a successful digital marketing campaign. While marketers are often fearful about the backlash in mass mailing, the ratio of complaints to lead conversions is actually pretty low as per advice from business consulting. Another observation recorded is the fact that while more than four-fifths of accounts are primary, it is secondary account holders who complain less. However, the latter also open their mails less and thus chances of them getting converted as final customer reduce greatly.

10 Traits Harvard looks for in Ideal MBA Candidates

Harvard Business School is considered right on top among institutes offering an MBA. Certain characteristics define the right fit for entry into the same. The candidate must demonstrate some sense of impactful leadership. The duty of service must pervade other motivations. He / she must be solutions oriented. A sense of passion must emanate from the candidate. The case method is continued to be used to gauge the effectiveness of the candidate. He / she must also possess a vision which will enable the creation of corporate strategy. The person must possess a sense of self- awareness. However, the value system and integrity must never be compromised. During the selection process itself, the person must demonstrate the ability o take initiative. Most importantly, the candidate must be mature enough in dealings

7 Things Leaders do to Help People Change

Certain leaders stand out due to the long term benefits they bring to people around themselves. They motivate others. This involves a combination of ‘pull’ as well as ‘push’ factors. They also notice problems and get them solved. Top leaders provide clear corporate strategy and goals. They also constantly incorporate business innovation and challenge accepted practices. Courage is something they innately possess. Change is a constant with them. Most importantly, good leaders instil among their followers a belief in themselves.

HR, Training and the Gig Economy

An extremely bleak concept of gigging has spread in a number of organizations resulting from organizational restructuring. This has meant that organizations are cutting costs on corporate training and instead expecting employees to learn on the job. As per talent management firm- Saba- this only bring short term cost cuts but in the long run, employees feel alienated and productivity decreases. As per business research, just over an eighth of organizations worldwide are investing on staff training.

How to Attract Millennials with your B2B Marketing

Some methods have now been identified by business research to lure millennials with industrial marketing. The brand must be easily searchable online. Thus firms must invest in enabling proper SEO strategy as well as complementing that with some paid search capability. The content must include videos. The product must be easy to view over mobile devices. It must have a strong presence on social media and this will also generate digital marketing. Crucially, the content must be relevant for their needs. 

4 Ways to Unlock Employee Performance

Business research has suggested four ways to get best possible employee performances. To track respective performances, competitive co-operation must be encouraged. The corporate strategy devised must be within a set of context. Thus, certain business metrics to illustrate the objectives must be emphasized upon. Employees of the firm must be empowered to crack collaboration challenges. In order to further step up collaboration, non-financial incentives must also be promoted as money is not the only way to reward talent.

Cambodia Finalizes Tourism Strategy

 corporate strategy of Cambodia tourism board has been devised and it targets increased inbound tourism from abroad. As per market research done, last year the figure stood at around four and a half million tourists. This year the target has been modestly increased to around five million keeping in view the political situation, and outbreak of MERS in the Middle East. As of last year, they majority of tourists arrived from the Asia-Pacific region, with Europe and Americas coming down the list. The Middle East and Africa were the regions of lowest activity with regards to tourist inflow to Cambodia.

How to Hire and Manage Remote Employees

In the present inter-connected world of mobile and digital devices, freelancing is expanding at a rapid pace as a career path. Substantial business innovation is taking place in this field. The remote employee must possess certain attributes such as self motivation and drive to learn. A number of these freelancers are in fact practicing an Executive MBA. Hiring process must incorporate certain tests and procedures very different from the conventional style. Working more hours must not be rewarded, rather only results must be.

Odisha Tourism gets Enthusiastic Response in NY Times Travel Show

The tourism board of Odisha state recently participated in a travel exhibition promoted by the New York Times. They participated for the first time but promoted the state as an alternative to traditional inbound tourism directed at well known spots like the Golden Triangle, Kerala or Goa. The state also has a Buddhist circuit which it can utilize to attract tourists from east or south east Asia. This positive response is great news for the state as this may be leveraged to generate more number of tourism jobs.  

Use Video to Convert Visitors into Customers

Over time, market research has proven that website visitors can be turned into final buyers using video content. They best capture attention. They are also easiest to share. Genuine leads get generated as more than half of customers polled feel greater engagement through videos. The click through rate is certainly boosted by as much as a fifth. Greater levels of conversation by more than a third with customer happen due to videos. Finally, videos are considered digital marketing’s best friend.

Bask in Barcelona’s Architectural Heritage

A number of cities globally are renowned for their architectural prowess. Riga in Latvia, Palm Spring in Florida, Amsterdam in the Netherlands and San Francisco in California are prominent examples of such. However, as per tourism consulting, the one city most famous for architecture is Barcelona in Spain, exemplified by the works of Antonio Gaudi. Going with the history, culture, cuisine and beaches of the city, travel jobs are an important part of the local economy. 

Social Media Data you can use to Transform your Business Today

In the present context, there is too much of data but using it to generate positive digital marketing is what really matters. Business consulting has identified data which can be useful for the same. Hubspot tells us that eleven is the optimum number of blogs a firm must launch in a month. Moz says that blogs which contain videos have three times as much chance to attract viewers than those having only text. Marketing Sherpa tells us that three-fifths of marketers feel email marketing provides ideal ROI. Finally Buffer states that, Tweets with pictures experience nearly a fifth more hits, more than 100% re-tweets and nearly 90% more favourites.

How to Make Company Culture Stick

Some methods exist which ensure organizational culture lives on. Traditional metrics of success do not necessarily work anymore. There is a need for newer ones mainly due to the constant business innovation. InMobi is a perfect example of firm having integrated successes with newer recruits as certain solutions which have worked are repeated with greater doze of creativity. The hackathon festival and setting up of highly challenging solutions are examples of such. The concept of crowd-sharing can further be enlarged to include open sourcing company’s developments for others to gain benefits out of.