What Watching The World Cup Teaches Us About Business
Every four years, the FIFA World Cup takes place as 32 nations play for the title of the best soccer team in the world. The whole world watches the games, and even during the daytime, people in their offices crowd around a computer monitor or television screen in order to watch which team wins. If your office has watched the World Cup together, there are a few takeaways from observing the competition. From a recent article, here are five specific lessons you can learn from watching the World Cup:
Talent doesn’t always matter as much as we might think. For instance, many people expected Spain to win this year just as they did during the last World Cup. This was due to Spain’s impressive roster of players collected from Real Madrid and Barcelona. Unfortunately for Spain, although they had a huge amount of talent, they exited the competition early after losing to the Netherlands. Spain left the competition early along with England and Italy. These teams leaving shows that talent doesn’t always help you win in the end. As well as in business, talent doesn’t always equal or guarantee success.
When promoting your brand or product, focus on community over the brand or product itself. During the World Cup, huge, international brands have thrived. For example, brands like Snickers, Nike, and Coca-Cola have all emphasized their products in terms of the overall global soccer community in order to sell them. Build a community through the brand and products you have to offer rather then focusing solely on self-promotion tactics.
The underdog can take on big competition. Yes, the big name teams made it into the finals, many of the teams in the knock-out rounds were teams that many believed wouldn’t make it far in the competition.
The significance of scarcity. Although you might think the FIFA World Cup organization would want to increase having the World Cup to every 2 years rather than every 4. The organization understands how relevant being scarce is and this emphasis on relevancy creates a build up of interest as the event nears.
The World Cup provides companies a huge audience to see their products and brands, and also allows these companies to promote themselves through the World Cup global community.
(Youtube)
Executive Financial Enterprises: June Newsletter
This is Executive Financial Enterprises’ June Newsletter. In this newsletter, EFE Inc. discusses DiversityBusiness.com naming the company one of the nation’s top businesses for 2014. You can read the full newsletter below:
How To Become A Successful Entrepreneur
Have you ever wondered what it takes to be a successful entrepreneur? In a recent Business Insider article, written by Jim Price from the Ross School of business at the University of Michigan. Mr. Price states that this is the most frequently asked question he is asked and because of this, he has pinpointed a couple of key traits that he believes comprise not only an entrepreneur, but a successful one.
The first trait Mr. Price points out is passion. He states, “you need to be driven by a clear sense of purpose and passion.” Usually, this passion stems from a natural drive within the individual, the topic of the business or the “game” of building the business from its initial stages into a full-fledged business. Passion is also very key because startups or small companies require a lot of work and long hours in the beginning. In addition, the pay is usually not high and there is little no to guarantee that the business will perform well or even be running a year from then. In order for the company to have a chance there needs to be an intrinsic drive from within rather than a drive to simply make a profit.
The next trait that Mr. Price pinpoints is having an ability to be resilient. If you are pursuing a goal of building a startup, you’ll need to have determination, spirit and a high pain tolerance. Building a company from the ground up is not easy task. People will be critical of your business and constantly tell you that your business won’t work. However, it is up to the entrepreneur to persevere and stay motivated until the individual meets his or her goal. The best entrepreneurs learn to feed off of other people’s negativity and thrive from it.
A final trait that Mr. Price mentions is the ability to be be self-possessed. A strong entrepreneur will have the self-awareness and strength to surround him or herself with people who are not necessarily similar. Not being afraid or intimidated to surround yourself with people that have different strengths is key to make a well-rounded team.
As Mr. Price states earlier, successful entrepreneurs possess these traits and are constantly working and developing themselves in order to maintain their success in their respective industries.
Executive Financial Enterprises is committed to increasing your cash flow while reducing your DSO and cost of collections. Our professional team will maintain the goodwill of your company in the process.
Welcome to Executive Financial Enterprises’ site! We were listed as “An agency to watch” by Faulkner and Grey Publications, while also receiving the honor of the National Leadership Award by the Business Advisory Council. We were listed as “An agency to watch” by Faulkner and Grey Publications, awarded a top woman-owned company by Diversity Business.com and listed by Forbes Magazine as one of the 10 most dependable collection professionals in The United States.
Executive Financial Enterprises, an international business process outsourcer & accounts receivable company for more than 20 years, was awarded a top woman-owned company by Diversity Business.com and listed by Forbes Magazine as one of the 10 most dependable collection professionals in The United States. EFE Inc. can assist you in all areas of your receivables and debt recovery process- from invoicing to customer service to collections and judgment execution. We have state of the art technology that is premier in the industry. One of the principals of the company is an attorney and our national litigation program is monitored to the highest standards.
All of our employees receive ongoing training in negotiating strategy. Our follow-up and ability to accelerate your cash flow, while maintaining the client relationship is the finest in the industry. In today’s competitive business environment, you can rely on us to be a partner that fosters and assists you in growing your business.
Executive Financial Enterprises has one of the most experienced staffs in the industry. Every member of our staff is thoroughly trained by our legal experts. As such, all members of our staff are skilled negotiators who also possess a thorough understanding of the laws governing our industry. We conduct ongoing training in all areas of receivable operations.
Our staff is departmentalized according to industry type. We represent companies across all industries, including the healthcare, manufacturing, publishing, telecommunications, financial and banking sectors. You will benefit from having a group of professionals dedicated to your business specialty.
We are outsourcing leaders in the industry in developing strategies to increase your cash flow by cutting your company’s operational expenses.This program works to utilize our resources and negotiation tactics in order to collect any of our client’s past due receivables.
- The Order to Cash solution works to improve your company’s cash flow, fuel cost savings, reduce DSO, efficiency and customer satisfaction.
- We use our attorney network to file suits on behalf of your company as well as maintain and organize your legal files.