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InfoHub Provides Workshops, Seminars, Presentations and Talks on Technology, Business, Personal Productivity & Soft skills to Millions of Individuals

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INFOHUB is an international organization devoted to effectively transmit essential information on a variety of skills through seminars, talks, presentations and workshops. We offer cutting edge information solution on a wide range of topics that include Personal skills, Interpersonal skills, Leadership skills, Business skills, Soft skills and Media literacy. MISSION

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12/09/2023

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10/08/2017

The 4 Pillars of a Successful Company According to These 4 CEOs

When it comes to building a successful company, one of the ways I feed my own learning process as a young entrepreneur is by learning from those above or ahead of me on the path. I am constantly looking for new people to learn from, eager to hear what solutions they found for themselves (and selfishly, how I might avoid those same challenges in the future).

But "success" isn't just about achievement. In fact, the most successful companies don't just measure the end result, the total revenue, but the process that got them that result. Efficiency and good habits are equally (if not more) important.

So, what do some of those good habits look like?

Pillar Number 1: "Cash is King"
You can't run a business on the promise of cash or future payment. It is the only metric that really matters and should be the primary measure of your company's success at every stage," said Aaron Webber, CEO of MadisonWall, a venture capital firm and holding company to a handful of creative agencies. "A million dollars in outstanding invoices looks great and all, but it won't help you if you can't pay next week's rent. You need to have physical cash in the bank set aside for when those inevitable obstacles arise."

He went on to explain that a successful company is one that practices fiscal prudence and understands the power of compounding interest and investing back into the business. If you can develop and maintain good spending habits with this in mind, you won't just sustain your business, you will grow it. And if not, then your business has little chance of survival. Unfortunately, money won't fix bad habits. In fact, it might make them worse.

Pillar Number 2: Leadership that isn't ego driven.
Too often, I see young entrepreneurs get overly excited about what they're going to call themselves, and who gets to put the title of "CEO" in their Twitter bio--now that they've made a website and decided on a name for their "company."

I know I'm not the first person to say this, and I know I won't be the last. But it is an interesting thing to observe in my peers, and those who are ambitious about starting big companies. I see them spending more time on what title they want to wear, rather than how they're going to actually build something of value.

"If you truly want to build a loyal team, you have to realize that it's not all about you. Especially as the CEO, your job isn't to be the center of attention. Your job is to make everyone else's lives easier, and give them the opportunity to do great work. You're the facilitator, the coach, not necessarily the star player," said Andy Frisella, CEO of 1st Phorm International.

Pillar Number 3: Productivity.
Jim Kwik, founder and CEO of Kwik Learning, has served as the mental coach to some of the world's leading CEOs and celebrities. On the topic of productivity and brain fitness in the workplace, he said, "We are becoming more and more aware that working 8 straight hours, 5 days a week, might not be the most productive method for maximum efficiency. In fact, many companies are starting to realize that by being more flexible, and allowing their employees more freedom, they will actually produce better work. It just might not happen within the hours of 9-5. And you know what? That's OK."

Especially for new leaders and founders, it can be easy to fall into the trap of thinking that hours-in is the best measure for productivity or success. But the truth is, it's not. In fact, a lot of today's business leaders are operating more under the belief that hours-in is a poor metric, and the only thing that matters is the final product. If you do it in half the time while working from home, great. Just get it done, and get it done well.

Pillar Number 4: Your customer service can't suck.
Customer acquisition is hard. Customer retention is even harder.
What you're looking for is repeat, happy customers, ideally the kind that then go on to recommend you to their friends.

This is the advice that Charles Zhong, CEO of Azazie, shared. Azazie has made a name for themselves in the bridal fashion world by disrupting the conventional industry, seeing 300% sales growth in 2017.
He went on to explain that, on the flipside, customer service that goes above and beyond is all about being personable. People already have the Internet to answer most questions. So when a customer reaches out, sometimes they just need a human to walk them through their specific case. The more human and personable that experience feels, the more likely that customer will be to return, because they trust you.

Credit. Inc.com

01/08/2017

3 Paths to Financial Freedom

All of us dream of attaining financial freedom, but only a few of us will ever get there. What’s financial freedom, you ask? It’s a bit different for everyone. To me, financial freedom means I can enjoy a comfortable life without having to work or worry much about money.

Financial Freedom Formula

How do you attain financial freedom? It’s easy; you need to generate passive income. For most of us, this means investing. It’s easy in theory, but you would need to invest a lot of money to generate enough passive income to cover your cost of living. The personal saving rate of Nigerians is around 5%. This statistic is pretty dismal and it is exactly why so few of us will reach financial freedom. You need to increase your saving rate so you can invest more.

Saving = Income – Expense

1 – Grow your income

Here is the first path to financial freedom – grow your income. This is pretty obvious. If you make more money, then you’ll have a better chance of saving more. The tough part is that it’s difficult to grow your income. Here are a few ideas.

Accomplish more at work and get promotions and raises
Actively seek better job opportunities that offer more pay
Get advance degrees or certifications to increase your pay
Change career if you’re in a low paying field
Start a business
Work on the side
Rent out a spare room
Learn about investing

2 – Live a frugal lifestyle

Of course, not everyone is as good as making money . I think you should keep trying to increase your income, but if you can’t then you need to focus on the expense side of the equation. While not everyone can make a lot of income, everyone can learn how to live more frugally. Living frugally doesn’t mean you have to eat ramen noodles every night, you just need to spend significantly less than you make so you’d be able to save and invest more. A 5% saving rate isn’t going to cut it. You’d need to save at least 30% of your income to reach financial freedom in a reasonable . Here are some ways that we save money.

Cook at home
Share one car
Take public transportation
Live in a modest home
Delay purchases until you are sure about them
Try to fix things yourself
Ignore impulse spending and stick to a budget
Seek out less expensive entertainment

3 – Create Something Valuable

Lastly, there is the unconventional way. You’ll have to figure this one out for yourself. One example is Ernie Zelinsky. He didn’t actually start saving for retirement until he was 40 years old. He used his creativity and wrote many books including The Joy of Not Working and How to Retire Happy, Wild, and Free. Now, he is making more from book sales than most people from their day jobs. Ernie was able to leverage his creativity and achieve financial freedom on his own terms. I’m sure if it’s important enough for you, you can come up with something too.

Many people achieved financial freedom through rental properties. This is a great way to go if you can handle being a landlord. I think everyone should try this one out to see if they can make it work.
Financial Freedom isn’t that difficult

When it comes to financial freedom, you have to go with your strength. If you are good at making money, then work on increasing your income. If you’re good at living frugally, then focus on minimizing lifestyle inflation. Of course, most of us will fall somewhere in the middle. The key is to grow your saving so you can invest more every year. The more you can invest, the faster you will achieve financial freedom.

The third path is definitely interesting. If you think outside the box and have the courage to follow your creativity, then good things might happen.

How will you achieve financial freedom?
Credit: retireby40.org

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