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    Why is timing important for Entrepreneurs?

    “Life is all about timing… the unreachable becomes reachable, the unavailable become available, the unattainable… attainable. Have the ...

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    Creativity for Entrepreneurial Success

    If you are an aspiring entrepreneur, you may have come across many sources that have highlighted innovation as the most important factor that influenc ...

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    Travel Made Simple

    “We travel not to escape life, but for life not to escape us.” – Anonymous Many of us dream of travelling the world, to see world wonders and to ...

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    Self-Confidence for Entrepreneurial Success

    “Believe in yourself! Have faith in your abilities! Without a humble but reasonable confidence in your own powers you cannot be successful or happy. ...



Travel Made Simple

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23.06.2016 in Entrepreneurship, Latest by copaceticweb 0

Why is timing important for Entrepreneurs?

“Life is all about timing… the unreachable becomes reachable, the unavailable become available, the unattainable… attainable. Have the patience, wait it out It’s all about timing.” - Stacey Charter

After an arduous process of fine tuning your idea and collecting the necessary capital, you may be thinking about taking your novel idea into the world. Before you embark on this journey, there is something you need to consider: Is it the right time?

Facebook, Google, Virgin Records, Apple had impeccable timing in launching their businesses to the world. Many successful businesses were able to achieve their goals by simply waiting and understanding the market conditions that they would face if they were to launch. For example, YouTube, the global video-sharing website launched in 2005 was not the first of its kind, but launching it at a time where the number of internet users and internet connectivity was improving had an influence in their global success.

“When the codec problem was solved by Adobe Flash and when broadband penetration crossed 50 percent in America, YouTube was perfectly timed. Great idea, but unbelievable timing.” -Bill Gross

The importance of the concept of timing is further elaborated through George Moore’s Technology Adoption Model. Here Moore looks at a unique point of market entry for businesses, especially those in the technology market, which is called the Chasm. He explains that a business is able to succeed if it enters the market after the product has been introduced to the Early Adopters and market insiders, but before the product hits mainstream markets and pose barriers for the business to enter.

“You know, sometimes, when they say you’re ahead of your time, it’s just a polite way of saying you have a real bad sense of timing.” - George McGovern

TED speaker Bill Gross carried out research to find what makes certain companies successful and why other companies fail. In this research, he looked at variables such as Ideas, Team, Business Model, Funding and Timing. Through this research carried out across 200 companies, it was revealed that the most influencing factor for success was Timing. He states that in order to perfectly time your product you need to be willing to evaluate the market you plan on catering, and to understand if this market truly needs the product you want to offer.

John Oechsle looks at five questions that any entrepreneur needs to ask from themselves before starting any business activity, to ensure that they are entering the market at the “right” time. They are;

  1. How is the current market and local economy?
  2. What is the current competition like in your industry?
  3. Do statistical market trends seem favorable for the start of your business and its future growth?
  4. Do you understand the timing involved in customer outreach?
  5. Is this the right time for you?

Therefore, entrepreneurs must include the timing factor into their business planning process, as entrepreneurial success is not solely based on the idea and the product.

21.06.2016 in Entrepreneurship, Latest by copaceticweb 0

Creativity for Entrepreneurial Success

If you are an aspiring entrepreneur, you may have come across many sources that have highlighted innovation as the most important factor that influences entrepreneurial success. However, there is another crucial factor to consider! As an example, let’s try to recall who Ward Christensen and Randy Suess are? The chances are you have either not heard of them or you simply cannot remember why they are important. Christensen and Suess are the first people to introduce a system akin social media known as Bulletin Board System (BBS) in the late 1970’s. Yet, many of us are familiar with Facebook, LinkedIn and Twitter as Social Media platforms. Despite BBS’ innovative nature, it was found that one of the reasons for its extinction was its lack of creativity in terms of adopting a user-friendly interface from its text-only exchange of data.

So does this mean that innovation is unimportant? Clearly not – - innovation is vital for the development for progress. However, for an innovative idea to be successful the key component of creativity is crucial. Creativity or being creative is not limited to painters, musicians or any other individual involved in the Arts discipline. Nicole Fallon expands on the idea of creativity beyond this discipline by identifying creativity as a boundless imagination that is constantly innovating and seeing the world through a different lens.

“The invention of Gatorade is a perfect example of a creative collision, it took experts from two seemingly unrelated subjects, nephrology and football, to bring about the completely new category of sports beverages.” – Cade Miles, BusinessNewsDaily

One of the key reasons that creativity is deemed as important is because it fosters innovation. According to Andrew Cravenho, key distinction between an invention and an innovation, is creativity, i.e. while an invention is an unique idea, innovation is an unique idea that is useful. Cravenho points out that creativity helps to identify and merge the usefulness and the uniqueness of the idea. This leads on to the next key importance of creativity, i.e. it provides a competitive advantage. Creativity has the ability to create and develop some of the most efficient and feasible processes, enabling businesses to stay ahead of its competitors, thereby creating a competitive advantage. A few other reasons looked at by Cleverism on the importance of creativity can be listed below;

  • Creativity helps develop existing products and services while enhancing the business.
  • Creativity allows entrepreneurs to think beyond the conventional frame of mind, to create new and interesting business solutions.
  • Creativity encourages formation and integration of transdisciplinary ideas
  • Creativity develops new niches, through the exploration of new aspects of traditional businesses

‘You can’t use up creativity. The more you use, the more you have.’ – Maya Angelou

How does one hone and encourage creativity within themselves and among their employees?

  1. Look at your problem and your surroundings with a new set of eyes. For example, if you are finding it difficult to compete in a market, sometimes providing the product at a different quantity or price will improve sales, however for this you merely have to look beyond what your competitors are doing.
  2. Brainstorming, through such a process every individual attached to the decision making process will provide viable ideas and options.
  3. Reward creative individuals within your team.
  4. Share your ideas with people who you sought advice from and invite these individuals to provide feedback on them.
  5. And finally, evaluate your ideas by yourself, sometimes evaluating your ideas will provide you the opportunity to improve and enhance them.

“We have to continually be jumping off cliffs and developing our wings on the way down.” ― Kurt Vonnegut

Expolanka Holdings has often encouraged creativity within entrepreneurs, and as testament to this, Expolanka has collaborated with Blue Ocean Ventures and Indian Angel Network to commence the Venture Engine project. This project encourages budding entrepreneurs the opportunity to present their creative innovations to market experts, along with funding, mentoring, and other crucial information to turn their start-ups to successful, self-sustaining business ventures. The project’s success in encouraging creative entrepreneurs to pursue their business ventures was accoladed at AREA awards.

03.05.2016 in Expolanka, Latest by copaceticweb 0

Travel Made Simple

“We travel not to escape life, but for life not to escape us.” – Anonymous

Many of us dream of travelling the world, to see world wonders and to fill our passports with the stamps of exotic lands; however these have become mere dreams as we rarely go on vacations.  The rarity of this act has made many of us to consider this as a luxury. One crucial impediment to holidays is the burden of travel planning. For example,research has found that on an average a person would take about 18 days to plan a 6 day holiday, with more than 13 hours spent on searching accommodation options and 11 hours sorting out the modes of transportation that would be used during the vacation. This burdensome perception towards travel has made this simple pleasure of life into a complex and expensive activity that many of us either avoid or refuse to even take into consideration.

However, if we had someone who would do the researching and planning portion of our vacation, many of us would consider going on a vacation as easy a task as our daily commute to work. This is where the importance of Travel Agents come into play. Travel Agents or advisors provide customers with consultation services and tour packages tailored to suit the needs of each customer.

You might still be wondering how a Travel Agent can do a better job than you in planning your dream vacation. One reason is that Travel Agents have an innate knowledge about the industry, which enables them to provide you with options that you may have not considered. Their expertise is quite useful when choosing an airline, accommodation and transportation for your vacation, as they will be able to give you an option that suits you, your budget, and most importantly your dream vacation.

Another advantage of planning your vacation with a Travel Agent is that you are able to save money. Travel Agents have created their own network among key actors in the travel industry, which has enabled them to provide you with the best prices and discounts when it comes to Tickets and holiday packages, unlike what you would be offered if you were to book a room or a tour by yourself.

A common oversight that occurs when anyone plans vacation is that they sacrifice quality for frugality, by solely planning their holiday based on the hotel or airline that offers us the lowest price, which has often made their holidays to be one where they continuously compare what they saw online with what they are offered offline. However, ticketing and accommodation options provided by Travel Agents are in fact quite reliable and has a level of accuracy tied with it. For example, if you plan your holiday tour, you would have a limited access to good English-proficient guides for your tour, which is easily available for any traveller who plans their vacation with a Travel Agent.

Classic Travel is one of Sri Lanka’s premier travel agencies with more than 20 years of experience in the Travel Industry. They are an IATA accredited Travel Agent that offers total travel solutions to Corporate and Leisure markets. Their unique attribute of conducting operations 365 days of the year while being open 24 hours each day have enabled travellers to easily access their services to obtain flight information, purchase air tickets, book hotels or even just to discuss their future holiday travel plans.

Furthermore, the highly trained staff provides customers with travel packages that suit their needs. In order to ensure that the traveller is always at ease, they have joined an alliance with Chartis Insurance Limited, a World’s leading International Insurance & Financial service Organization, to provide Chartis Travel Guard Emergency Health & Assistance Insurance, this enables travellers to access an unlimited number of hospitals and health service providers worldwide, in case they fall ill or sustain an injury while they travel.

Apart from this Classic Travel is a direct agent to all Airlines represented in Sri Lanka, and has been able to maintain its ranking one of the top 03 travel agents for all the major airlines in Sri Lanka. Additionally, Classic Travel has been named as the Preferred Sales Agent for Star Cruises Singapore, leading Cruise Liner in the Asia Pacific Region, enabling travellers to get the best in both Air and Sea Travel.