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INNOVATORS - THE HARBINGERS OF A NEW AND MORE EVOLVED ERA

EDITOR’S CORNER

As the world steadily heals from the implications of COVID-19, we see innovators reshaping the world with problem-solving innovations, boundless creativity, and innovative solutions. Over the past 2 years, there have been incremental improvements in existing offerings, and new business models and ventures have been launched, resulting in both top and bottom-line growth. While giant corporations and several business titans are dealing with challenging issues because of COVID-19, innovators, including sociopreneurs, researchers, and technologists, are coming up with fresh approaches to push boundaries. As new and even more complex challenges emerge on the horizon, innovators across verticals are ready to address them. Developing nations like India have showed many remarkable advancements in automation, digital transformation, and medical technology, ultimately turning many impossible into the norm.

JEETENDRA THAKUR Managing Editor

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The increasing technological invocation is garnering attention. And as mentioned earlier, inventions and innovators have a special place in business Talk. After all, both of them usually have a backstory inspired by difficulties, a necessity, or a desire to make a name for themselves worldwide. It is something - we relate to, as we have had quite an adventurous journey over the last two years. The following edition, “Innovators with the Most Creative Breakthroughs in 2022,” is a tribute to the era-defining efforts of innovators worldwide. The star of our cover page is Catherine Quirke, CEO of Taxback International. For more than two decades, the firm has set a benchmark for managing VAT compliance through cutting-edge innovations. It has achieved new heights under Catherine’s leadership and built a more illustrious reputation. As always, the edition also includes a number of house-written articles that emphasize the rational breakthroughs that are breaking the clutter in the market. Although this is only a small effort, we as a publication are proud of it since it honours the inventors and entrepreneurs who are changing the world. We sincerely hope that our efforts are increasing your knowledge because you never know when the world will require a new innovator.

PUBLISHER HIMANI PARASHAR BUSINESS HEAD SHUBHAM MEHRA Managing Editor Jeetendra Thakur

Editorial Contributors

Avishek Singh, Shivani Goyal, Harish Kateghar

Creative Head Rahul Kushwaha

Corporate Team

Shelly Goyal, Himanshi Sharma, Hemant Negi, Ayushi Taneja, Kiran Mishra, Alisha Ray

Research Analysts Anmol Bhatia, Kimi Sing

Finance Head

Girdhar Kumar Thakur

Digital Marketing Manager Jatin Shrivastav

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COVER STORY

10 CATHERINE QUIRKE

CEO OF TAXBACK INTERNATIONAL

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Contents 18

AL COSTA,

INGMAR HØGØY,

CEO, TEKNTRASH

Articles

CEO, GREENTECH INNOVATORS AS

16 10 ROLES OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT

30 KARAN SINGH TOMAR, FOUNDER & DIRECTOR “NUTRIORG” A VENTURE BY RATTAN ORGANIC FOODS PVT. LTD.

28 HOW TO BE AN INCLUSIVE LEADER? 7 BEST TIPS

34 KENNETH BOND, CEO, ROOK CONNECT INC.

5 PERSONAL FINANCE RULES YOU CAN BREAK DURING A CRISIS

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HOW TO BE A LEADER NOT FOLLOWER? 10 BEST WAYS

38 LAUREN OAKES,

CEO, MEGAPHONE MARKETING

’s entrepreneurial mindset dly across three continents 70% female representation earned second place in the sinesses. She has also been ech Awards in the Executive force behind Megaphone’s ncy in 2021. Since donning formidable mentor to many f the company walls.

46 TOM EPSTEIN,

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S T O R Y C O V E R | 10 | Business Talk June 2022

catherine quirke A PASSIONATE LEADER REFRESHING THE TAXATION INDUSTRY WITH TECH-DRIVEN SOLUTIONS

We will continue to attract highly qualified talent to our company to open new avenues for our business. With the easing of lockdown restrictions, too, we expect to see an increase in business travel so there will be a renewed focus on T&E VAT Reclaim. However, with the development of the Comply platform, we believe compliance is more than an obligation for our clients but a significantly valuable addition to their business.

CATHERINE QUIRKE

CEO OF TAXBACK INTERNATIONAL June 2022 Business Talk | 11 |

ntegrity and passion are two major elements of an impactful leader who possess the power to influence the people around them. They are the ones who are considered the backbone of an organization.

Business Talk is a great appreciator of leaders and executives with brilliant mindsets and unique business models. We have a great history of featuring numerous exemplary C-suite executives and their innovative and upto-the-mark breakthroughs. And here again, we are back with another inspiring tale of passion and dedication by narrating the success story of Catherine Quirke, the CEO of Taxback International. Our editorial team had an interesting and amazing virtual meet with the visionary leader of the company. Catherine shared numerous unknown facts about the company and their overall entrepreneurial journey so far. Catherine Quirke’s dedication highly moved us to feature her in our exclusive edition - ‘Innovators with the Most Creative Breakthroughs in 2022.’ We truly hope that this fascinating read will add some extra value to the lives of our global readership panel and encourage them to break barriers and chase their dreams. THE COMPANY PORTFOLIO

For a detailed introduction, our team asked Catherine to shine some light on the portfolio of the company, she replied, “Established in 1996 as part of the Taxback Group, Taxback International is a global corporation specializing in VAT Compliance and Recovery solutions. Taxback International has a global footprint encompassing over 30 offices worldwide covering Europe, Australasia, the United States, and Russia and a staff of over 1200. Taxback International was initially founded to provide VAT reclaim services to Events and Conferencing companies. However, with the place of supply rule changes introduced in 2010, we had to pivot the business in other directions. We started to focus more on VAT reclaim for corporate businesses, specifically around business travel. To do this effectively, we realized we would need to build out technology to automate the process to ensure we captured every single transaction. We partnered with the major Expense Management providers to get access to our client’s expense transaction data and corresponding invoices. We did this by building integrations into these partner platforms to automate the transfer of the data. We were the first VAT provider to do this over 10 years ago.” Soon the team developed the world’s first automated VAT recovery solution, VATConnect. The platform automated the review of transactional data and images through AI and Machine Learning, which means they could recover VAT on even the smallest of receipts. Clients, for the first time, had full visibility of their overall global VAT reclaim potential and could easily monitor their compliance rates and accurately forecast their VAT recovery amounts.

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In addition, they introduced a Continuous Improvement Program, that adds extra value for its clients along with making it a leader in the sphere. This enabled the company to work with clients to introduce educational programs to their employees to increase compliance rates for future claims.

“In parallel, we were also developing a unique platform to support our VAT Compliance clients. This has now evolved into the Comply platform that we see today. Like our VAT Reclaim solution, Comply is the first of its kind on the market, developed by VAT experts for VAT experts. We operate in over 20 languages through our 24-hour European Central Processing Centre and offer our platforms, website, and customer support center in multiple languages. We have a highly experienced team of VAT researchers and specialists with extensive knowledge of both EU and non-EU VAT laws and regulations. Taxback International invest heavily in research and development, constantly working to deliver innovation to our clients and partners and expanding our solution to provide new services in new areas so that we can scale and meet the requirements of the largest organizations in the world.” Catherine adds. Given the challenges Covid-19 has inflicted on global organizations, the organization has adapted to ensure it is flexible in meeting the changing requirements of its clients. With over 12,500 existing clients, they work with some of the largest companies in the world, including Apple, Google, IBM, P&G, and Facebook, representing them on a global scale with their VAT compliance obligations. Taxback International has enjoyed an average growth rate of 50% over the last 6 years, and that growth rate is forecast to continue as the company significantly grows in the market.

Developing a feedback loop within an organization is the key to developing new models and processes through which the company can ensure innovation efforts and perspectives are evaluated and implemented within its operational structure. As Catherine points out, “When new ways of doing things are introduced in our business, whether that is an internal process or a tech element, it is done gradually. Regular evaluations and feedback are required from team members to see what’s working and what’s not and, importantly, where improvements can be made.” WHAT IS SO UNIQUE ABOUT TAXBACK INTERNATIONAL?

The process and tools to evaluate the creative capacity of the company entirely focus on creating an environment where employees can feel creative and get opportunities to explore the market. This means allowing for mistakes, growth, and adaptation. The goal is not necessarily instant success – though that is always welcome – but ultimately about working together to create new unique ideas.

Unfortunately, there’s no tried-and-true way to balance all three. If there was, everybody would be doing it. So, for companies to grow while developing their internal processes, agility and flexibility are required. This comes back to hiring team members you trust and allowing them to make mistakes and learn from them.

One of the major USPs of the company is its R&D process. Over the past two years, significant resources have been invested within Taxback International to ensure its products and services are the best in class. This has ranged not only from the hiring of key personnel (product managers, designers, and technology experts) to professional collaboration with AWS (Amazon Web Services). Its newest technology platform, Comply, is a groundbreaking platform within the VAT industry, addressing many of the key problems people have seen arise again and again. Though the team initially conceived of the idea two years ago, it has taken significant trials and testing to provide a product to clients that is as robust and dynamic as they can create. Throwing some light on the reality of balancing speed, resources, and learning, Catherine admits, “Unfortunately, there’s no tried-and-true way to balance all three. If there was, everybody would be doing it. So, for companies to grow while developing their internal processes, agility and flexibility are required. This comes back to hiring team members you trust and allowing them to make mistakes and learn from them.” A COMPANY FLOURISHES WITH CULTURE

The culture of the company is one of the most important things company leaders must keep their focus on to ensure a smooth process of the business. The team of Taxback International truly believes that collaboration is the key to innovation. This means that every project needs the interdependency of several specialist teams to get a 360-degree view. This increased volume of viewpoints creates the maximum opportunity for diverse voices to be heard and means every challenge has a greater chance of being overcome ahead of time.

Catherine further clarifies, “If a business is going to not only succeed but thrive, then it needs to develop an empowered workforce. This can only be done through building trust and confidence in the personalities and skillsets within the company. Once these are established it becomes easier for people within the company to take on more responsibility and to trust in those around them. After that, they can work together to create solutions to problems rather than dwelling on negatives. At Taxback International, we pride ourselves on being a company imbued with an entrepreneurial spirit. This stems right back to our beginnings and founder, Terry Clune, who founded his first company after spotting a gap in the market. This tradition of entrepreneurial endeavour has continued in the current company atmosphere of Taxback International. This goes back to empowering your employees to make decisions for themselves. As far as I can see, this is the only way for a business to grow and cultivate truly innovative ideas.” TRANSFORMING CHALLENGES INTO OPPORTUNITIES

“The main challenge our customers present to us time and again is a lack of control and visibility on their global VAT compliance obligations. For large companies with multiple

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VAT registrations in multiple regions, using a combination of in-house teams and outsourced providers can mean there is a lack of visibility and control at a global level and can present lots of difficulties. This lack of visibility and control can often lead to missed submission deadlines and associated fines and penalties which is a constant worry for businesses. Other challenges include a lack of local tax knowledge and time spent keeping up with changing regulations, rules, and VAT rates. One of the biggest concerns facing businesses today is the continued adoption of digitization and real-time reporting around VAT compliance. Businesses need to be prepared and ready for this shift.” Moreover, Catherine explains, “There’s also the very important issue of security and having a full audit trail of historic and current filings, data, and supporting documentation in one secure location. The general approach to VAT compliance is changing fast globally, and we could see there was nothing on the market to help businesses through this transition and into the future. Comply solves all of the above problems and more. We have over 20 years of experience building unique VAT compliance and VAT reclaim solutions, servicing some of the biggest companies in the world. We see the problems large businesses face every day. The combination of our extensive VAT expertise and in-house development teams put us in an ideal position to develop a game-changing platform that is transforming how businesses are thinking about and managing their VAT compliance obligations.

Comply automates and simplifies VAT compliance for global organizations. In addition, our revolutionary payments technology enables tax office payments in local currencies and reconciliations within one platform. Comply delivers visibility and centralized control for VAT obligations in all jurisdictions. Comply eliminates the risk associated with global VAT obligations through the fully automated process from data validation to return preparation, review & approval to submission and payment of liabilities. Everything automated from start to finish in one single platform.”

Shining some light on the difficult situations of the global pandemic, the exemplary leader says, “Like every other business, it took Taxback International time to adapt to COVID-19. Yet while there were disadvantages caused by the pandemic it also allowed us to reassess our market position. From this, we were able to make an appropriate yet significant pivot to our company model. Following detailed market research, we seized upon a niche opportunity to develop a robust VAT compliance platform - Comply. This was something the industry desperately needed and the market response to date has been incredibly positive. The pivot required hiring specialists and developing our existing teams to match our updated needs. This has only gone on to improve our company’s infrastructure, our market position, and additionally continue our entrepreneurial spirit.” FUTURE ENDEAVOURS

The Taxback International team has scaled the success ladder at a brisk pace within its 25 year journey, but they are planning to take the organization to the next level with their futuristic ideas. When talking about the accolades and milestones achieved by the company and the leader, the list is extensive. Identifying some of the major moments that made her proud, Catherine asserts, “From my entire career, there are far too many to list. However, I am particularly proud of the pivot Taxback International took in the face of the pandemic. Though there was a huge challenge to our business, we assessed the market and successfully moved into the Financial Technology arena. To be part of a business that is now leading the way for global tax technologies is a very proud moment.”

Over the coming years, Taxback International is planning to continue to solidify its position as a global hub of VAT consultancy, while expanding regions of operation and opening more local offices. Through continued expansion, they also want to offer their clients more comprehensive global services as well as expand their local network knowledge. | 14 | Business Talk June 2022

10 ROLES OF ENTREPRENEURSHI DEVELOPMENT Entrepreneurship plays a significant role in the country’s economic development and standard of living. Being a startup founder or small business owner, you may believe that you just work hard to build your own business and serve yourself and your family. But in reality, you do a lot more for your local community, state, region, and country.

Japan, Germany, the USA, and China are some of the leading economically developed nations of the world, primarily due to the efforts made by their industrial entrepreneurs. So, to understand it precisely, in this post, we will learn about the role of an entrepreneur in economic development. Role Of An Entrepreneur In Economic Development

1. EXPOSING THE LOCAL MARKET TO A WIDE RANGE OF FOREIGN OPPORTUNITIES As a business evolves, so will the opportunities. Exporting is considered to be a big step for every business out there, but it is still a dream of every entrepreneur to expose themselves to new markets. With the help of entrepreneurship, local communities can export their products and make more professional collaborations. The bases of entrepreneurship allow for that to happen. In addition, depending on the type of entrepreneurial venture, you can notice more potential ways that improve local finances. 2. LEADER OF THE WHOLE INDUSTRY The role of an entrepreneur in economic development may be considered as the leader of the whole industry. An entrepreneur not only handles the business risks but is also act as the economic planner of the industry, visionary, inventor of new methods of production, builder of the economic structure of the country, and the person to hold the complete watch on the activities of the competitors. Therefore, entrepreneurs are known as the captain of the industry.

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3. COMMUNITY DEVELOPMENT Economic development doesn’t always lead to community development. Community development demands infrastructure for education and training, healthcare, and other public services. For instance, you must be highly educated and skilled workers in a community to entice new businesses. Educational institutions, technical training schools, and internship opportunities will allow you to build a pool of educated and skilled workers.

4. DIMINISHING SOCIAL TENSION AND DIFFERENCES AMONGST YOUTH We all know that many problems associated with youth unrest and social tension are rightly considered due to youth not being employed in productive work. However, in the changing environment where we are confronted with the problem of recession in wage employment opportunities, the alternative to a wage career is the only possible option. Therefore, the country must invert youth from wage careers to self-employment careers with latent entrepreneurial traits. Such an alternate path through entrepreneurship could help the country lower social tension and unrest amongst youth. 5. BALANCED RAPID ECONOMIC GROWTH Entrepreneurs play a crucial role in the economic development of the country. They analyze business opportunities and found a series of new industries to avail of these opportunities, create new production techniques, and produce new products. Therefore, industrial activities in the country get motivation, and balanced economic development continues. However, the lack of entrepreneurs is the main barrier to economic development.

IP IN ECONOMIC 6. REMOVAL OF REGIONAL DISPARITIES Regional disparity strains the country. It is an impediment to industrial development. The entrepreneur contributes to dismissing regional disparities by setting new industries in backward areas. It brings equality and balanced economic development It also terminates regionalism and brings uniformity to all levels of society. 7. ECONOMIC INDEPENDENCE Entrepreneurship becomes crucial for national self-reliance. Industrialists allow manufacture indigenous substitutes of imported products, decreasing dependence on foreign countries. Businessmen also export goods and services on a large scale and make a scarce foreign exchange. Such import substitution and export promotion support the country’s economic independence, without which political independence has little meaning. 8. CAPITAL FORMATION Entrepreneurs mobilize the nonfunctioning savings of the public through the issues of industrial securities. Investment of public savings in the industry leads to productive utilization of national resources. The rate of capital formation boosts, which is essential for rapid economic growth. Thus, an entrepreneur is the creator of wealth. 9. STANDARD OF LIVING Rise in people’s living standards in a community is yet another crucial goal of economic development. Entrepreneurs furthermore play a key role in improving living standards in a community. They do this not just by generating jobs opportunities

but also by creating and adopting innovations that enhance the quality of life of their employees, customers, and other stakeholders in the community. For instance, automation that lowers production costs and allows faster production will make a business unit more productive while also supplying customers with the same goods at lower prices. 10. BACKWARD AND FORWARD LINKS An entrepreneur incites change in which there is a chain reaction. There are multiple backward and forward linkages while launching an enterprise. For instance, the setting up of a steel plant forms many ancillary units, and the demand for iron ore, coal, etc., grows. There are backward relationships. By boosting the supply of steel, the plant facilitates machine manufacturing, tube making, vessel manufacturing, and the development of other such units.

Entrepreneurs build an atmosphere of enthusiasm and convey a sense of purpose. They give an organization its momentum. Entrepreneurial behavior is essential to the long-term vitality of every economy. The practice of entrepreneurship is as vital for established firms as it is for newcomers. CONCLUSION So, entrepreneurs have a critical role in sparking economic development by initiating new businesses, producing jobs, and enhancing key goals such as GDP, exports, the standard of living, skills development, and community development.

The relationship between entrepreneurship and economic development is important for policymakers and business owners. Comprehending the advantages and disadvantages of entrepreneurship permits a balanced approach to nurturing entrepreneurship, which can, if handled correctly, leads to a positive economic and societal impact. So, after reading this blog, we realize that role of an entrepreneur in economic development can’t be neglected.

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TeknTrash:

MINING GOLD FROM TRASH DATA TO MAKE THE SOCIETY ECO-CONSCIOUS AND THRIVING The value of data is self-evident in this digitally transformed era. Every day, around 2.5 quintillion bytes of data are generated, and that staggering figure will further rise. Regardless of the industry, target market demographics, or types of goods and services a company offers, acquiring data for the best possible use can improve practically every part of its business. But what about the value of post-consumption data? In a world where customer-centricity, personalisation, and customer experience decide the victor, it’ll be extremely difficult for any company from any vertical if they are too slow to follow their customer’s behavioural data-driven footsteps. On that front, data collected from the end of a product life-cycle can help companies have deeper customer insights and obtain authentic ESG benefits. Based on this realisation, TeknTrash, a UK-based technology disruptor, has developed a novel AIbased innovation, Stipra that can help firms identify products and capture data. Such innovations have always had a special place in our magazine. The following article discusses how TeknTrash is mining gold from trash data and how it can help businesses increase efficiency and profitability. SOWING AND SPROUTING THE IDEA

TeknTrash was founded in 2018 by Al Costa, a serial technopreneur and incremental learner who sought failures as steppingstones. He began his professional career in traditional jobs that promised wonderful careers only to end abruptly (along with many others), due to being laid off after a few months for no rhyme or reason. Eventually, he was fed up with the fragility of the industry and reached a certain breaking point. He started delving for ideas, paving the way to launching multiple startups in the USA, Brazil, Spain and the UK. He sold his 1st business to a NASDAQ-listed company and lost everything he had in the 2nd one. | 18 | Business Talk June 2022

TeknTrash was his 5th startup, which stood on the belief that trash contains valuable information that no one is collecting. And with different products having different data, Al believed there should be a tailored system for recycling and enabling postsales data collection. This is how Stipra came to light. The system provides valuable customer insights and deeper understanding for companies to improve their sustainability. However, the firm is constantly upgrading the system’s capabilities. “The next iteration of this will probably tackle disposed automobiles, which will allow manufacturers to spot defective parts faster, increasing safety and improving their product,” adds Al. STIPRA: DISTINGUISH, DETECT & CAPTURE DATA

As mentioned, Stipra changes the perception of post-consumption data. The system revolutionises the incentivising of product recycling while obtaining valuable consumer data. TeknTrash has created a device called a Point of Disposal (POD) that provides consumption data. “Manufacturers have relied on sales data, primarily from POS (Point of Sale), to extrapolate consumption statistics. That is simply unacceptable in a datadriven environment, “ states Al. His company has created the first POD (Stipra.Com), where people can register and take pictures of their household products when disposed of in exchange for points. The data is collected from three sources: • •

•

Recycling Plants: TeknTrash installs cameras on the conveyor belts to photograph the trash as it comes from various pickup stations. Stipra Portal: People can use their digital devices or the app to take pictures of their products as they are throwing them in the trash to obtain points. Reverse vending machines: Placed at various supermarkets, shopping centres, etc., People can discard their trash to gain points.

AL COSTA, CEO, TeknTrash

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TeknTrash is a mission-driven company that can help businesses optimise their market presence while also contributing to longterm sustainability. Al believes that as a startup, they are not just fixing an issue but also creating one to be the single resolver and capture 100% of the future market. They value their clients and receive feedback from people with absolutely nothing to do with data, this distance helps TeknTrash view companies as a whole and clearly understand their status. DRIVING A NECESSARY TRANSFORMATION

TeknTrash is leading a revolution, disrupting the recycling industry as well as making people and businesses more ecoconscious. Statistics show that 8 million tons of plastic are dumped into the ocean every year. 11% of all methane in the atmosphere comes from this trash, and only 6% is effectively recycled. The industry puts all the weight of recycling on the individual. Al points out that “it’s a stick-versus-carrot model, in which if you recycle, nothing happens, but if you don’t, you’re penalised.” Considering the huge revenue FMCG companies make, TeknTrash is encouraging them to promote the recycling behaviour among consumers. In return, brands are provided with post-sales data to facilitate product improvement and sales optimisation while supporting their ESG efforts. This sends a clear message to their customers: “We care about the environment, and for that, we will reward you if you dispose of our products properly.” Going behind the scenes, the innovations and approaches are backed by intense R&D. The firm is creating a one-of-a-kind vertical that requires research on all levels, from data collection, data storage, data polishing, to data sales and much more. As tiring as it sounds, Al and his firm specialise in multi-tasking. They strive to solve problems as they come in instead of keeping them on hold. It is undoubtedly challenging, but they are adaptable and keep them on a learning curve.

AN OFF-THE-SHELF CULTURE When innovative people with ideas have the freedom to implement them, it becomes a thriving ecosystem. TeknTrash is a fine example of it. It is not made up of mediocre bureaucrats but of those who look for ideas beyond the fence. As an AI company working on data, the firm mostly comprises of data scientists. While they function as a group, they also work on individual strengths. The firm believes that “two minds are better than one,” but they don’t make it a goal. Teamwork is a tool, not an end goal.

This flipped mindset propels individuals toward positivity and a limitless attitude. It changes their perspective on the world. TeknTrash hires people who are talented and intensely creative. This helps in building a mission-critical team. Al asserts, “I believe if there is a lack of alignment on work-ethics, the balance of trust can be altered quickly.” The team is inherently motivated as they are doing something not only financially sound but good for the environment and society as a whole. GROWING MAGNANIMOUSLY

TeknTrash contemplates the journey of its creator. Al grew up in impoverished nations like Haiti, where recycling is a way of life for many people. Putting this into perspective, Stipra is recycling data, which is more valuable than any other waste, and the platform rewards more than just money. Over the last three years, the firm has gained strong attention from industry and the media after becoming a finalist in the “Red Herring Top 100 Europe competition in 2021.” They were rated one of the three most impactful technologies by the World Economic Forum (WEF), and Euronews named them the #1 “green tech start-up out to change the world.” Stipra collects data from big brands, including Pepsi, Nestlé, Nivea, Unilever, P&G, and others. The company is now soliciting funds to construct a smart bin in the US. It will be used at shopping malls, airports, nightclubs, banks, and as many public spaces as possible, and it will serve as a key marketing tool for those businesses. Customers would believe that if they locate a smart garbage bin instead of a generic one, the company is equipped with reliable technology, which will enrich their convenience and experience.

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INGMAR HØGØY, CEO, GREENTECH INNOVATORS AS

GREENTECH INNOVATORS:

CREATING BREAKTHROUGHS THROUGH ORGANIC WASTE FOR A CLEANER TOMORROW

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rom multi-functional devices to bringing the world to our fingertips, technology has revolutionized our world and daily lives, making them more elevated and fun. It has also fostered societal development through multiple breakthroughs. In that line, recycling waste has been a critical breakthrough. Analytical tools for eco-efficiency, industrial ecology, environmental design, eco-effectiveness, natural capital, bio-mimicry, and eco-innovation are vital in creating long-term sustainability. However, there are still many loopholes left to be filled, and organic waste (food waste) is one of them. Organic waste management has gotten little attention and focus, despite its importance. Innovation-based solutions that combine strategic waste management elements with practicedriven efforts, including incremental and radical breakthroughs, can, nonetheless, drive long-term reform.

Ingmar Høgøy, a seasoned eco-innovator and leading persona within the aquaculture industry, was moved by the scenario. He is the founder of Greentech Innovators, an innovative company that combines science and research to create sustainable organic waste solutions.

THE VISION & THE INNOVATION Ingmar has spent decades in research-based companies, building expertise in R&D, product development, and process development, with a focus on aquaculture and fish by-products. He has shaped many ecopreneurships and invented patents too. His experience in aquaculture dealing with by-products from aquaculture and fisheries taught him that, while environmental concerns are being addressed, food waste remains an unsolved problem. With a vision of change, he founded Greentech Innovators and its subsidiary, AlgaePro. Initially, their focus was on reusing food waste through fermentation, which will be used as fertilizer for micro-algae cultivation in the sister concern. But eventually, their vision expanded. “Today’s waste management challenges offer opportunities for making more sustainable use of food waste,” says Ingmar. The firm focuses on industrial segments like aquaculture, petroleum, smelteries, minerals, and waste management. It partners with research communities and innovators for the production and utilization of bio-fertilizers created from bio-waste and turns them into valuable resources for food and feed production. All their functions are eco-friendly and largely reduce greenhouse gas emissions from landfills and industry.

There is a global need for our solution to improve the utilization of food waste and reduce greenhouse gas emissions. We are digging for more knowledge and improvements every day. June 2022 Business Talk | 25 |

DRIVEN BY INTENSIVE R&D R&D is at the heart of Greentech Innovator. Because its services are disruptive, they employ lab-scale production and constant prototyping. This helps them learn and improve and expand their horizons of knowledge. “There is a global need for our solution to improve the utilization of food waste and reduce greenhouse gas emissions. We are digging for more knowledge and improvements every day,” explains Ingmar. Their endeavors extend to weekly discussions for innovation and improvement while optimizing their process using biotechnology to convert food waste to high-value products. A fine example of their R&D is their daughter company, AlgaePro AS. The fermented organic waste will be used here for microalgae cultivation. This will be used as an Omega-3-rich feed supplement for aquaculture firms. The firm is partnered with BIR, one of Norway’s prominent waste management companies, to develop a complete circular economy value chain, where they will source the organic waste. In the last 2 F.Y, the firm has concluded 2 critical environmental projects, viz., DoMAR (2021-22) and the Pilot Fermentation Plant at BOB Bedrift, Flesland (2020-21). Let’s understand them broadly:

DoMAR is undertaken by three respective bodies: Greentech Innovators AS, Pagarete Microalgae Solutions, and the University of Lisbon. The focus of this project is to develop and implement customized innovations to supply the market with low-cost microalgae biomass. For the other project, Greentech Innovators received a 2.7 MNOK Environmental Technology Scheme Grant from Innovation Norway to build a pilot plant for fermentation of food waste for sustainable protein production. Through learning and collaborating, they are building a strong international network. It gives them access to companies, resources, and R&D institutions. In the end, this helps in resolving challenges and achieving the goals they’ve set out for.

THE DYNAMIC AND CREATIVE CREW Innovation thrives on disciplinary execution. Without certain boundaries, timelines, or set outcomes, innovating overwhelms people with options. Without a proper structure, any effort towards innovation will produce poor results. Disconnecting from the routine and spending some spare time ruminating over the fancy notion eventually becomes a chore. Greentech Innovators, however, stay way ahead of such debacles. Learning and collaborating are the two core philosophies of the firm. Even in the face of failure, they maintain a learning mindset. This keeps them open-minded and iron-clad in their search for solutions.

Discussing challenges and not being afraid of failure is important to inspire creativity in employees. Over the last two years, the pandemic has brought an advent of uncertainties and confusion for them. They had to adhere to restrictions while dealing with practical problems like educating employees. Simultaneously, there were challenges in funding as investors were more riskaverse. However, since the pandemic, the “green shift” and sustainable development have gained a lot of attention, and the team is putting their efforts together to have good investors onboard. | 26 | Business Talk June 2022

MORE THAN A BUSINESS: A MISSION Greentech Innovators started with a mission, a goal that everyone should care about. Food waste is not something to be overlooked. It contributes to 11% of Methane emissions (a greenhouse gas 70 times stronger than CO2. “It’s essential to comprehend how we may employ precious resources found in food waste to create more long-term solutions,” says Ingmar. He and his team have found the solution in using microbes and microalgae to convert food waste into highly demanded and valuable proteins and Omega-3. In fact, they have made great progress in their scientific endeavors. However, limited funding has reduced the speed of scaling and commercializing their solutions for more sustainable waste management. Hence, it’s welcoming like-minded investors to invest their resources in sustainable solutions to shape a better future for the world.

HOW TO BE AN INCLUSIVE

LEADER ? 7 BEST TIPS

hen you follow inclusive leadership, it leads to a culture of inclusion and belonging, directly impacting employee engagement and performance. However, there is no denying the fact that leaders have keys to inclusion. In this guide, we will discuss how to be an inclusive leader and tips that will help you understand the whole process.

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HOW TO BE AN INCLUSIVE LEADER 1. FAIRNESS AND RESPECT In this guide on how to be an inclusive leader, this is the most crucial aspect you need to consider. To become an inclusive leader, you have to control bias and discrimination. Leaders must be aware of any internal, unconscious bias they may hold and comprehend that everyone does carry some level of this bias. Therefore refusing or denying is just another way of ignoring and can worsen the problem. However, if a leader recognizes these shortcomings in themself, they fix them. Being a leader you should continually assess how those biases impact decisions and actions in the workplace. Then, take the below steps to make sure that you act reasonably and respectfully every day. • Ensure that you listen to and adore all contributions equally. • Consider speaking up to control unacceptable behavior at all levels, from outright discrimination to micro-aggressions • Do not be a part of the authoritative culture. Let people be authentic. • Work to recognize and eliminate blind spots in processes to make sure that decision-making is fair and even. 2. INSIGHT Identifying one’s own bias and privilege is vital to becoming an inclusive leader. It is not a one-and-done situation, though. Instead, it requires constant evaluation and revisiting. For some leaders, it is a life-long journey. So, question yourself and the standard practices around you. Get feedback from the voices you’re pushing to amplify. Asking them how to be more inclusive is a significant step. However, don’t rely too much on them as you’ll need to do this work on your own. 3. COLLABORATION When leaders make decisions without considering the ground level, they will ignore something. However, if the team works more collaboratively, they will be able to understand everyone’s view points. In addition, there are many more possibilities to battle bias with more people in the room. This is particularly true when you work with diverse people in the team. Leaders should make sure that they listen to these voices, regardless of seniority level. Take their experiences into consideration and value those viewpoints as much as you would any other. While speaking with your team about diversity efforts, you should listen to these voices even more closely. 4. PROMOTING PSYCHOLOGICAL SAFETY Sometimes, the workplace can be hostile to those considered “other” by society. Even though you try to be inclusive and combat this treatment, those around you may not. This can significantly affect the mental health and well-being of your diverse team. You can’t control the behaviors of others, but you should motivate them to do better. If you have the authority to take disciplinary action, consider going that route. Further, you can make the workplace safer for your team by enabling them to challenge norms. This possesses checking and questioning

your actions, words, and strategies. Make sure that it is secure for your team to bring up issues they have or ways that you can be more inclusive. If they do not feel anxious or scared having these sometimes challenging conversations with you, you are forming the right kind of atmosphere. 5. EMOTIONAL AND CULTURAL INTELLIGENCE Empathy is important while promoting inclusion, thus making it crucial while learning how to be an inclusive leader. A leader has to look after different perspectives to be inclusive. Recognizing one’s privilege is critical here. Understanding that your life experience is distinct from those around you and taking steps to cherish that experience as much as your own is a great start. Ask questions respectfully. Do your research by listening to voices from other cultures and walks of life outside the workplace. Be ready to change workplace norms if deemed necessary. If you approach this knowing that you need work, you’re already on the right path. 6. EMPOWERMENT AND GROWTH Those with diverse experiences have different worldviews and may work differently. Embrace this and adjust your ways to get work done by your team. If a team member has a new strategy or idea, inspire them to try it out. Give them the freedom they have to get the outcomes you both want. Take turns conveying your team members high-level projects to work on. See that work is divided evenly, and everyone has an opportunity to reach their potential. Then, when they grow, make sure you shine a light on those successes and celebrate them. 7. TRUST BINDING Similarly, you have to make your team understand that you will support them. Many people state they are an ally but won’t do the work when it’s complicated. Inclusive leaders use their privilege and standing in the company to make way for optimistic change. This contains actions and words. Here are just some instances of the actions that you can take to gain the trust of your team: • Use your voice to challenge bad behavior and unfair practices actively. Start those difficult conversations at a higher level. • Do not talk ill of anyone behind their back. If there is an issue that requires to be addressed, do so head-on and approach the issue directly. • Admit when you make a mistake and learn from it. Showing humanity and owning up to your missteps are vital parts of the learning process. It also makes it much more comfortable for others to start their learning paths. • Stand by your word and speak the truth. If you are transparent with your team, they will authorize you. This creates a more robust team all-around. FINAL WORDS Becoming an inclusive leader is a long road but essential and valuable. You will become a better leader for your team and set an example for other leaders in your organization to do the same. We hope you find this guide on how to be an inclusive leader helpful.

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KARAN SINGH TOMAR, FOUNDER & DIRECTOR “NUTRIORG” A VENTURE BY RATTAN ORGANIC FOODS PVT. LTD. | 30 | Business Talk June 2022

KARAN SINGH TOMAR:

A PASSIONPRENEUR MAKING INDIA’S OUTSTANDING NUTRITION BRAND EVEN BETTER

“We don’t grow when things are easy, we grow when we face challenges.”

here is a well-known saying by John Lubbock, “Health is much more dependent on our habits and nutrition than on medicine.” In the modern era, where people are much more conscious about their health and overall well-being, business ventures operating in the same niche are witnessing a great boom. Also, the nutrition and health sector will be the only one that will observe great success and growth in the coming decades. Keeping this opportunity in mind, many passionate people have already jumped into the realm-but when it comes to health and trustworthy nutrition, one should always refer to the experienced name. Although Business Talk has a remarkable history of featuring some overpower ventures that are revamping the particular sector with innovative ideas-but, this time, we got our hands on the leading one, Nutriorg. Our editorial team got the opportunity to arrange an interesting and joyful virtual coffee session with the leadership panel of the company. In further conversation with us, the

leaders revealed numerous unknown facts about the company and shared their success stories. The Founder and Director of the company, Karan Singh Tomar, shined some light on the secret sauce of being a successful entrepreneur. He also shared a few words of wisdom and some valuable nuggets for our global readership. We, as a team, genuinely hope and desire that this fascinating read will not only be proved as a motivation booster but will also encourage the readers to break their boundaries and chase their dreams. THE INCEPTION TALE The founders of Nutriorg, Karan Singh Tomar, Satish Raghav, and Rattan Pal Singh, analyzed the nutrition and healthcare realm a decade ago and decided to bridge the gap with their super innovative solutions and high-end products. They conceptualized the organization with the prime objective of promoting a healthy culture in society and offering a trustworthy product panel to make the health journey of people even healthier and tastier.

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Karan asserts, “Nutriorg works rigorously towards furnishing the market with a range of wellness products grown organically in company-owned farmlands under careful supervision. Herbs, raw materials, fruits, chiefly Amla, Aloe vera, Ashwagandha, Shatavari, Tulsi, Neem, Lemon, Kinnoo, Stevia, Giloy, Cissus, etc., are cultivated organically in the Nutriorg’s own certified organic farmlands. Nutriorg, pledged by its name, presents a range of nutrition-rich products grown entirely organically. The entire content of these products is intended to improve immunity, aid the detoxification process, and replenish the body’s nutrients. The products are made available in their purest form and are highly effective due to their organic nature. Moreover, Nutriorg has an end-to-end farm-to-kitchen model encompassing the products’ cultivation, manufacturing, and marketing. The products are unadulterated, purely organic, and highly nutritious. All Nutriorg products are manufactured with intrinsic care. We maintain complete transparency from farm to the kitchen with 100% ethical and honest business ethics.” EDGE OVER OTHERS

“I would have to say that Nutriorg neither leans toward collaboration nor competition. Nutriorg is a resolution working towards providing the world with more organic and healthy food and making their lifestyle healthy. This revolution aims to procure sustainable living, encouraging the end consumer and growers to reduce their carbon footprint. Nutriorg in its farms has switched to eco-friendly energy-saving methods using drip irrigation and efﬁcient energy consumption using solar energy for the entire project. The limelight is on the implementation of optimum eco-friendly packaging. Nutriorg farming projects are sustainable and create job opportunities in rural areas empowering women and locals by making them a part of this revolution. More than 80% of the total workforce in these projects is women.”-Karan. Karan follows a holistic approach to motivate his workforce and make them feel highly responsible for their actions throughout the organization. He says that he always makes sure to keep people inspired and focused even in his absence by explaining the predetermined goals and objectives of the company. No doubt, it is quite easier to motivate someone for a while to perform a task efficiently, but it is equally challenging to maintain that motivation and keep that lit igniting in their hearts.

When we talk about differentiating factors of a venture, it is not possible to forget the Research and Development section. Research is the most crucial element to climbing the success ladder with constant development. Being a leading venture in the health and nutrition domain, it is more than important to check the accuracy and authenticity of the products. The company possesses a high customer satisfaction rate as it strongly believes in delivering more than its promise to its clients.

CONVERTING CHALLENGES INTO OPPORTUNITIES “We don’t grow when things are easy, we grow when we face challenges.” Challenges and obstacles are a must to reach a destination where one can call himself successful. In recent years, when the whole world was suffering from a global pandemic, and

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SATISH RAGHAV, FOUNDER & DIRECTOR

KARAN SINGH TOMAR, FOUNDER & DIRECTOR

even at present, we are not sure if it’s gone or paused- Nutriorg has set new standards by coming to every challenge on its way. The leaders revealed a hard time when the team could not reach all those people who needed it. But the prime goal of the company is to help everyone lead a healthy and prosperous life.

Karan adds, “When the world was suffering from COVID-19, so did we. We had a hard time when we could not reach all those who needed us. The main goal of Nutriorg is to help everyone lead a healthy life, and this pandemic made it difficult for us to reach every corner of the world. The hard times of the pandemic have made the world realize how important it is to care for our health and eat what helps nurture it. It has been brought to light that chemical-based food products worsen our health. The pandemic made people aware of the importance of leading a healthy lifestyle. We are what we eat, and subsequently, we should switch to pure, organic, unadulterated, undiluted, and uncontaminated food products. The pandemic has brought a significant change in people’s seating, lifestyle habits, and outlook on health. People have accepted that the most precious wealth is their health. This has opened the ways for organic and wellness brands to come into consumers’ knowledge. People are likewise to find a trustful and authentic brand that has been in the market way before COVID-19.” PARTING WORDS

Before signing off, Karan asserted, “I have seen many of my employees doing or creating art of work going out of the way. Noticing that and after making a few changes in the working system, it has been a moment of pride that I can now see many of my employees creating something or working better than I could expect. Giving them some liberty and responsibility has helped me, and they feel attached to their work and delivering their best.”

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GrowthInstitute June 2022 Business Talk | 33 |

KENNETH BOND, CEO, ROOK Connect Inc.

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Business Optimization Software, CRM, PRM, ERP & BI

www.ROOKConnect.com

BUSINESS PROCESS & WORKFLOW AUTOMATION SOFTWARE, CRM, PRM, ERP & BI, DESIGNED TO MAXIMIZE EFFICIENCY

KENNETH BOND A PASSIONPRENEUR PROVIDING AGILE SOLUTIONS IN THE SOFTWARE ARENA

Bill Gates has stated, “Software is a great combination between artistry and engineering. When you finally get done and get to appreciate what you have done, it is like a part of yourself that you have put together.” SAAS-based companies are playing a crucial role in boosting the IT sector and creating new standards for the tech world. No doubt the more progress the particular domain captures the better and easier our lives get. When one looks around them in the market, it is easy to find numerous companies providing software services, but ROOK Connect Inc. is the leading name in the industry, which is standing firm in the business world and proving new-age solutions to the global clientele.

Business Talk has been an active witness in the success journey of the leaders who have surpassed the challenges of their lives by producing creative and innovative breakthroughs. We have been a giant player in featuring numerous companies. We are back with another success story of passion and zeal for our global readership panel. Our editorial team had an exciting and joyful session with the CEO of the company, Kenneth Bond. The visionary leader shared numerous less-known facts about his entrepreneurial journey so far. He also spilled some valuable nuggets for all the upcoming business leaders who are aspiring to enter the IT world. We truly hope that this fascinating read will inspire and motivate you to break your barriers and chase your dreams.

Our team asked Kenneth about his journey with ROOK Connect. We also asked him about the motivational factors behind incepting the venture. The CEO asserts, “I have an extreme passion for technology and how it can impact businesses. I truly believe that streamlining how businesses operate and implementing easy-to-use software applications such as ROOK Connect is the new age life force for businesses looking to increase revenue and deliver top-quality results to their customers. I’ve always been passionate about finding solutions to problems and capitalizing on technology to support businesses that are looking to evolve and improve, so developing technology for this came naturally to me. Born in the cloud, ROOK Connect is a true all-in-one digital solution for businesses looking to scale, grow, add digital processes and streamline workflows. ROOK allows businesses to access facts in real-time, providing visibility on all operations as they happen and the critical insight needed to make the best decisions. ROOK Connect ensures that our customers have the digital tools needed to best serve their customers and drive financial efficiencies like never before. Focused on providing simple, configurable and customizable software, CRM, ERP & BI solutions, ROOK Connect helps businesses, organizations, departments, staff, vendors and customers reach and achieve the next level of success.”

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He further adds, “Too many companies fail when going digital because the digital systems they’re trying to implement can’t adapt to their specific needs and requirements. ROOK Connect provides structure, processes and workflows while empowering businesses with configurations and a team of professionals to help them get the most out of the software. ROOK Connect was developed to help businesses streamline operations, enhancing their ability to operate efficiently and maximize revenues through the application of lean practices and workflows. ROOK Connect software comes fully stacked with templates, workflows, processes and business tools, providing the digital applications needed to drive success. Capitalizing on years of experience with implementations and designing digital workflows and processes, our representatives can help configure and customize ROOK Connect to match your exact needs.” EDGE OVER OTHERS

“You can’t look at the competition and say you are going to do it better. You have to look at the competition and say you are going to do it differently.” Creating a competitive advantage in the market is essential to survive and scale in this competitive industry, and the team at ROOK completely understands this. Hence, they have created some major disruptive efficiency tools to help their clientele: •

•

Flexibility - ROOK Connect software works the way customers need it to. They don’t tell them how they have to operate, rather, they work with businesses by developing, advising and supporting them through the mapping and development of processes to ensure they get the most efficient solution possible. Transparency - Businesses shouldn’t have to chase answers, they should be able to login into their ROOK Connect software platform and get instant access to the details they need. ROOK Connect configures and integrates real-time KPI tracking and systematic reporting that works for businesses. Visibility - With click-through access to real data and answers at your fingertips no matter where you are in the world, businesses using ROOK Connect have the ability to react and adapt as situations occur instead of waiting to be alerted. With configurable automated alerts, the ROOK Team supports businesses in managing their deliverables.

Accountability - There’s no question with ROOK Connect about who’s doing what, who’s responsible for what and what the next steps are. With access to who did what, where, and when, ROOK Connect empowers businesses with the tools they need to ensure that the job is getting done the way it’s supposed to be and that all necessary steps are taken and tracked.

Reporting - Instant access to live, real-time reports, with sortable tools and business intelligence analytics that provide the real data needed to be effective and drive revenue. ROOK Connect empowers businesses to draw comparisons, evaluate trends and learn how they can operate more efficiently with historical Big Data analytics.

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BOND WITH R&D Kenneth says, “R&D is everything for ROOK Connect. We’re very agile and always looking for ways to improve and provide customers with tools to better use ROOK Connect for their business. We work agnostically, communicating and collaborating with all platforms by constantly working on leading-edge business intelligence applications. The goal is for our software to learn from your business as you use it and advise businesses as they’re using it on what they can do better based on statistical analysis. ROOK Connect is driving innovation by supporting businesses in their day-to-day operations and providing a software application to help them improve operations and quality assurance models that affect overall revenue.” ACCOLADES TO BOAST OF

The company has been scaling the success ladder since its inception and has become a global name in the SAAS industry. Their dedication and passion have helped them earn numerous recognitions and accolades such as: •

• • • • •

The Top 100 Canadian Professionals - Top 3 Ranked in The Top 100 Businesses 2021 Corporate Vision - Corporate Excellence Award Top CRM Company in Canada Most Promising Field Service Solution Providers 2021 2021 Technology Thought Leader 10 Most Dynamic Entrepreneurs 2021

Highlighting his plans for the organization, Kenneth asserts,

“Right now in addition to Toronto, Vancouver, Calgary and Texas, our sights are set on opening offices in the UK and Australia. We’re focused on being the most disruptive Business Process & Workflow Automation Software on the market. Our goal is to have 1 million logged-in users a day using our platform.”

June 2022 Business Talk | 37 |

An awe-inspiring ecosystem for marketing breakthroughs and career building.

ver since we reached widespread adoption of the internet, marketing practices for businesses of all shapes and sizes (MNCs, SMEs, and MSMEs) have changed dramatically. Particularly post-2000, the influx of technology and data resources have forced brands to shift the way they think about marketing – with a newfound focus on digital, the possibilities have expanded tenfold. The digital realm’s ever-growing opportunities have inspired many startups, the most innovative of which have piloted the marketing space with bespoke solutions. A benchmark-setting marketing agency, Megaphone is one such name that rises to the occasion. It is a full-service marketing firm based in Australia that, having been crowned the country’s #1 Social Media Agency in 2021, is widely recognised as the best in the business. The firm is led by a dynamic trio: Max Hertan (Director), Lauren Oakes (CEO), and Josh Gowing (CMO). The following article summarizes Megaphone’s rise from pint-sized startup to pioneering powerhouse. THE EARLY BEGINNINGS

The story of Megaphone began with “Melbourne Young Entrepreneur” winner, Max Hertan. In 2013, he founded the agency with a dual vision: one, to help businesses surpass their goals and reach their potential, and two, to create a working environment where learning and selfdevelopment flowed through the team’s DNA. Three years after joining Megaphone as an Account Manager, the vision became abundantly clear when Lauren stepped into the role of CEO. Her ambition was to create the best workplace in Australia: an ecosystem where the brightest minds in Australia could thrive and be the best versions of themselves. With time, that vision took shape, and the agency excelled in leaps and bounds. Megaphone has mushroomed into a full-service agency that services some of the world’s biggest brands, with expertise in social media marketing (Facebook, Instagram, TikTok), Google Ads, SEO, content creation, digital strategy, B2B marketing, and lead generation. With Lauren steering the ship and Max’s entrepreneurial mindset unwavering, Megaphone has grown rapidly across three continents with over 120 employees. Lauren has a 70% female representation in leadership roles at Megaphone and earned second place in the Global Stevie Awards for Women-Led Businesses. She has also been shortlisted in the B&T Women Leading Tech Awards in the Executive Leader category and was the driving force behind Megaphone’s award as Australia’s #1 Social Media Agency in 2021. Since donning the CEO hat in 2018, she has also been a formidable mentor to many businesswomen both inside and outside of the company walls. | 38 | Business Talk June 2022

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AN EXTENDED PARTNER TO CLIENTS Innovation and people are two core pillars of Megaphone. Their services are driven by a holistic approach and strong knowledge of business aspects beyond just marketing – providing guidance in business development, hiring, post-purchase experiences, community building, branding, content, and much more. “We act as a second marketing arm to the business, making clients part of the team,” says Lauren. The holistic approach and diverse knowledge bank allow Megaphone to overcome clients’ issues no matter in which area they arise. By helping clients stand out and grow for the long term, the agency carves a distinction for itself in a crowded field. Meanwhile, the team’s ability to constantly learn and update their skills plays an instrumental role in overcoming hurdles head-on.

Long story short, Megaphone is a disruptive business entity. By always scouring for emerging innovations and trends, and seeing new marketing challenges as opportunities, the agency’s clients don’t just grow, they thrive. Consistent with its path, the firm has grown to become more than just a business entity and marketing agency: they are a dynamic community where marketing minds seek knowledge, where passionate individuals build industryleading skillsets, and where clients achieve exceptional ROI. MegaVortex© AN EXEMPLARY INNOVATION

Digital marketing is a constantly transformational landscape, forever introducing new platforms that drive customer habits. However, while the landscape goes through transformational shifts, one thing marketing agencies haven’t proactively addressed is the underlying marketing philosophy and framework. Acknowledging this industry shortcoming, this realisation inspired Megaphone’s disruptive and novel innovation, the MegaVortex© – a muchneeded step forward from the traditional “marketing funnel” approach (attract, engage, encourage action). By contrast, the MegaVortex© overhauls the linear marketing framework, taking an omnichannel approach to cleverly test creatives and messaging in greater, more sophisticated quantities, sparking higher-

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converting ads at every single user touchpoint. Its introduction has been a stepping stone for Megaphone to propel its – and its clients’ – growth even further. Since launching the MegaVortex©, Megaphone has benchmarked its excellence and left competitors playing catchup. The system has sparked a 9x return on advertising spend (ROAS) across the client portfolio, a momentous step above the 2.87 average (per Nielson). As Lauren echoes, “It’s sending a clear message to the marketing industry that there’s no room for outdated practices.” CONSTANTLY PROTOTYPING Megaphone’s inherent innovation pursuit and regular market research enable it to be flexible in every market. The agency is constantly experimenting with ideas, and pushing boundaries is encouraged across all departments. This offers an opportunity for its people to spearhead different projects and imbibe learning as a fundamental part of their careers. This consistency contributes to their employees’ development; nourishing, challenging, and reimagining their limits. By developing its people, the agency is in the driver’s seat to always find competitive advantages, no matter the geography at play. For instance, Brisbane has a completely different market from a faster-paced city like London (both of which have Megaphone offices). So, it’s essential to have a strong understanding of the priority (services, culture, and results) and act accordingly. The constant experimenting bolsters the firm’s reputation and strength, ensuring they’re always ahead of the pack. Innovation is not just their core but also their way of life. The agency’s processes embody its 5 values: proactivity, authenticity, excellence, innovation, and enjoyment. The constant innovation cycle helps Megaphone introduce new resources that can improve the company’s efficiencies, expand its solutions portfolio, keep the team battle-ready at all times, and, ultimately, deliver long-lasting and strong growth for its diverse clientele.

OUTSMARTING COVID-19 “View every challenge as an opportunity to grow and separate yourself from the competition.” This thought kept the agency motivated through the entire COVID-19 crisis. Understanding that the traditional B2C market was about to be turned on its head, and that ecommerce was going to be accelerated with years worth of natural acceptance in the span of months, the agency focused on adaptation and turning a hurdle into a springboard. Like many, the team in Australia (headquartered in Melbourne) shifted to working from home. The leaders made a serious pivot in their culture; constantly challenging, motivating, and educating the team online – “In the face of challenges, we not only survived but thrived by putting our team first,” says Lauren.

To make the most of an unforeseen and, admittedly, uncertain and difficult situation, Megaphone provided everyone with plentiful resources that helped create positive outlooks amid the trying times. The focus on collaboration – on people first – helped Megaphone grow exponentially. Because only by creating the best possible environment and habits for its people could the team then deliver the best possible results for their clients. Since the pandemic, the firm has grown by over 200% in size, from roughly 30 employees prior to the 2020 pandemic to over 100 as of April 2022.

Led by Lauren and the leadership team, Megaphone also runs various growth initiatives to foster innovation, such as a week-long “Thinktank” in April 2022 during which leaders from all cities came together to create groundbreaking solutions to catapult the business forward across five core factors: client satisfaction, employee satisfaction, brand growth, workplace culture, and mindset. They also have dedicated “Learnings and Innovations” Slack channels, welcome professional and personal development tips from guest speakers, provide mentoring sessions, offer leadership training, run book clubs, and plenty more. A MAGNANIMOUS JOURNEY

A ‘LEARNING & INNOVATION’ CULTURE

“Innovation isn’t an action by choice, it’s ingrained in our company from the ground up,” states Lauren.

Megaphone’s rapid success stems from its emphasis on inhouse development. Everyone shares a similar vision, keeping them rooted in delivering nothing but the best. The focus on creating a progressive culture starts right from hiring resources: they look for people who can shake things up at the agency, those who can become the best version of themselves both professionally and personally. They put a huge amount of effort (and money) into training candidates, not only to create incredible marketers but holistically sound professionals and flourishing individuals. Their training principles mostly focus on interpersonal skills, teamwork, and proactivity, going above and beyond the typical marketing education. This fosters flexibility, which helps to understand and respond to the transforming market landscape. While they are ambitious, they embrace both their strengths and weaknesses and constantly work on them.

Setting sail with a vision to transform the marketing industry, Megaphone is enjoying phenomenal growth. It won the title of 2022’s Leading Social Media Marketing Agency - Australia (Corporate Excellence Awards) and is rated #1 on Clutch, among a host of other accolades. The fruits of their labour are best illustrated in their client retention. The agency boasts a 96% client retention rate (an impressive industry benchmark) earned by delivering blockbuster results in terms of key growth metrics for its slew of clients. Megaphone is also continually expanding. It has recently landed in the UK, continues to spread its glowing reputation in the USA, and eyes potential locations in Asia, Europe, and Canada. They are continuously seeking opportunities to maximise the possibilities of the ever-changing landscape with proactive in-house innovations. These milestones speak a lot about Lauren’s invaluable leadership. Starting as an Account Manager and now a thought-leader, mentor, motivator, and CEO, she sets a shining example for her team to follow. Her consistency and burning desire to innovate and build is propelling Megaphone toward its two ultimate goals: to be the world’s best marketing agency and the world’s best place to work.

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Finance

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ce Rules 5 PERSONAL PERSONAL

YOU CAN BREAK DURING A CRISIS

henever we talk about personal finance, it refers to how you handle your finances and further encompasses all dimensions of financial decision-making. Therefore, learning valuable financial skills online or offline is crucial for living a wholesome lifestyle that offers security and eradicates the burden of money worries. Updating your knowledge of finance in different aspects via any personal finance blogs, personal finance news, and a lot more on budgeting, debt management, loan saving, and, in some circumstances, investing in the right direction will help you succeed in your daily life and provide you with the transparency regarding your every single financial choice. When it comes to reaching financial independence, personal finance is essential in ensuring that every component of your income is well managed, that you are not overspending, and that you are not squandering money, mainly when you follow the top rules in personal finance. In this article, we will learn 5 personal finance rules that you can break during a crisis. 5 PERSONAL FINANCE RULES TO CONSIDER 1. Consider using your emergency fund There are times when your finances are strained; you can consider dipping into your emergency savings, making it necessary to build one from day one. However, don’t forget that life is unpredictable, and emergencies usually show themselves without notice and demand a quick response. Therefore, it is always recommended to put some money aside for unforeseeable situations or crises. Doing this will ensure that you will continue to get a portion of the funds until they are ready to be used as required. The emergency fund should not be utilized for anything other than to deal with unexpected circumstances, as it will come in handy when you require it most. 2. Pay when you can repay This is one of the most important personal finance rules that you should consider while managing your personal finance. Never take

on extra debt if you want to have a stress-free life. Even while taking out a loan, it is important to analyze all aspects and bypass typical pawn shops to avoid falling into debt. While most of us may have EMIs or other interest to pay, delaying paying these bills for a few days/ weeks during a financial crisis is recommended. However, before you postpone your payments during a crisis, you have to be regular in your payments. This will enhance your creditworthiness and trust, and your lender may be more willing to allow a slight delay. 3. Do not share your financial details with anyone Remember, investing is a personal decision, just like money management. And while we often keep our closest confidants globally notified about finances, it is recommended not to do so in a crisis. While the investing and insurance goal is to help your family and secure their future, crises usually require drastic measures because there can be hard times. 4. Differentiate between long-term needs vs. needs of the immediate crisis One lesson that we all have learned from the pandemic is the need to have more cash in hand. Depending on others for financial support during a crisis can harm your finances and your relationship with that person in the long run. Therefore, it is important to invest in instruments with high liquidity so that you can quickly liquidate your investment and obtain the funds in the event of a financial emergency. Instead of allocating resources to long-term demands such as a house or a car, you can invest your money in means or products that can be quickly liquidated whenever required. 5. Invest in high-risk assets like stocks, cryptos, etc. Several factors affect investment decisions, so there is no particular answer whenever we talk about investing. So, before you invest in assets like stocks and cryptos during a crisis, make sure you evaluate your overall financial situation. In addition, it is important to keep an eye on the market for options to acquire high-quality assets at low prices. Final Thoughts After the pandemic, we learned that crises can be life-changing and disrupt our plans, so it’s always worthwhile to have a backup. The tips mentioned above can be useful if you are encountering an unexpected financial crisis and can help you get through difficult times. In addition, we hope that you will consider these 5 personal finance rules during a crisis. May 2022 2022 Business Business Talk Talk || 45 37 || June

TOM EPSTEIN, Founder & CEO at POLN8 powered by 420Financial | 46 | Business Talk June 2022

POLN8:

REVOLUTIONISING THE CANNABIS SECTOR WITH FINANCIAL SUPPORT LIKE NEVER BEFORE

Business Talk celebrates ventures that bring revolution to their respective industry and we are back with another tale of excellence and passion - POLN8 powered by 420Financial (POLN8). Our editorial team had an interesting and joyful virtual session with POLN8 Founder and CEO Tom Epstein as he shared lesser-known facts about the company and his entrepreneurial journey. The dedication by him and his team towards transforming how cannabis-based businesses manage cashflow, payments and more, greatly inspired us to feature them in our upcoming edition - ‘Innovators with the Most Creative Breakthroughs in 2022.’ We truly hope this fascinating read adds value to the lives and businesses of our global readership panel, encouraging you to break barriers and chase dreams while creating opportunities for your industries the same. Prior to working with cannabis-based businesses, Tom shares, “We have been in business for over 16 years, powering payments and loyalty for Franchise chains, and learned quite well how to meet the needs of a niche industry. When we decided to roll POLN8 out to its own company, we made significant enhancements to the platform that once completed we realised would work very well in the Cannabis space. And with our experience working within a niche, it was a nobrainer to apply what we have learned over the past 16 years along with our new technology to resolve the biggest issue a Dispensary has today. They have huge issues around Cash handling, as this has been a cash-only business since becoming legalised in the states that allow it. We help Dispensaries convert cash sales into electronic funds while also making it easier for the consumer to shop by using their electronic wallet contained in our Dispensary-branded apps.

Also, as indicated above, POLN8 is the only company that delivers an app branded for the Dispensary that allows the customer to pay with funds from their electronic wallet, depositing funds directly into the Dispensary’s bank account. The customer now does not have to worry about getting cash before going in or dealing with high ATM fees and can spend as much as they have loaded into their wallet without additional fees, all while potentially gaining loyalty points (in states where allowed) for swag and more, including special offers texted to them or via in-app messages. This is a game-changer that helps both the Dispensary owner and their customers.” POLN8 is focused on promoting and supporting the cannabis business domain by providing them with transparent, transformative payment and loyalty solutions, empowering cannabis-based businesses to handily compete with traditional modern-day businesses. June 2022 Business Talk | 47 |

Moreover, our curious team asked Tom about his efforts around innovation and operational structure to which the CEO affirms, “Honestly, some of the most innovative ideas come from our customers. They are the ones dealing with the day-to-day issues, and by forming close relationships with them, they are constantly feeding us great ideas for our services. We prioritise the need for the ideas with regular planning meetings internally, and for those ideas that seem to need immediate action, we work with our development teams to ensure the best ones are scheduled for quicker release.” EDGE IN THE REALM

When the POLN8 team launches something new, they often try BETA testing with live customers who are open to not only experimenting with a new approach but also willing to provide honest feedback. “As I said before, our customers give us the best ideas. We are humans and will make mistakes, but our customers know if they give us valuable feedback during a BETA and help us tweak the product to better operate in their environment, not only does POLN8 benefit, but more importantly, the business owner and their customer win. In addition, our company leans towards collaboration! There is so much business out there for everyone to share. We will never have 100% of the business in our space. We would much rather work with “competitors” to find a solution that works for everyone than worry about who is getting what account and who is not. We learned in Franchising that if we can do something to help grow the industry, we will all do better in time,” shares Tom. There are a few things for people who have come from an extremely large corporate environment to starting and running a private company that Tom contrasts for us. “First, without the customer, there are no jobs at POLN8,” Tom says. “The customer pays the bills, not me. So if there is any issue with their account, we go way beyond what others would think to help them. Second, we are a private business, just like most of them are. We understand

the challenges a small business person has, and one of the big things we do is around payment processing. If for some reason deposits are missing or wrong, no matter how big or small, our team jumps all over these issues to get them resolved quickly. Third, as I said before, our best ideas come from our customers.” CONVERTING CHALLENGES INTO OPPORTUNITY

“Most days are great! But some days are spent working on serious challenges through changing business environments. Our biggest asset has always been our ability to take whatever downturn in the market is thrown at us and create a solution that can help our clients survive and grow. If we talk about our highest achievement, making it to year 16 is something we are really proud of. In the Cannabis space, there are a lot of regulations, hoops, and grey areas to work through. The biggest challenge is staying on top of what is allowed and what isn’t. In many cases, even if something is legal, some back-end vendors are hesitant to take on work in this space, and that’s because they are unsure of all the regulations that may affect them. We are breaking new ground here, hence, we are constantly educating ourselves and those vendors who support us. FUTURE ENDEAVOURS

Shining light on future plans with POLN8, Tom affirms,

“We are moving with the market into two new verticals being Cannabis and EV Charging. We are currently innovating in those spaces, but even before releasing updates to our products to those, we are already road-mapping ways to further help those industries by bringing in the needs of the growers and suppliers to help them with issues they have and supporting our mutual customers. Stay tuned for the next big thing that we should be able to talk about in just a couple of months.”

| 48 | Business Talk June 2022

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HOW TO BE A

LEADER NOT

10 BEST WAYS

Being a leader is a trait. While some are born with these traits, some accquire them with time. If you look at the history the most successful businessmen in the world are leaders. However, leaders must understand how big of an impact they can make with their leadership. Unfortunately, many people claim to be leaders and have a large following but don’t know how to lead. You’re either a leader or a follower. To say leaders are born prepared would be an understatement for those who made themselves into leaders. In this blog, we will know the top 10 ways to be a leader, not a follower. How to be a leader, not a follower 1. BE A STRONG DECISION MAKER Leaders have always been individuals who’ve been great decision-makers and influenced people with their decision. So therefore, they don’t seek approval from people while making a decision. However, they also consider how their decision would influence people and look for the greater good. Successful leaders think independently and are not controlled efficiently. They are always innovating and looking for being a reason for change for the better interest and question the existing system. They are the ones who push their inner force towards change. | 50 | Business Talk June 2022

FOLLOWER ? 2. EMPATHETIC Understanding how other people feel is vital, and some people are just better at it than others. If you know that you’re not good at understanding what others are feeling, become better at it. If you can’t judge by just looking at them, ask them. Ask them questions like, “How’s your day going so far?” or “Would you want to get a bite after work?” Going for dinner after work isn’t implied that you are dating your colleagues if you’re trying to know them. Many people feel more comfortable when they’re in an open environment where they don’t have the pressure of getting that paper done by tonight weighing down on them. 3. BE DISCIPLINED AS A PERSON People who are great leaders have been the ones who follow disciplines. They build a disciplined lifestyle to match their work ethics and drive towards success. As a result, they abstain from being diverted from their goal and empower their employees and followers. You need to develop the attitude of discipline if you are lacking. It will allow you to be a leader, not a follower. 4. QUESTION EVERYTHING If you want to be a leader, not a follower, then make sure you question everything you come in contact with. A leader questions his beliefs and everything going on in and around him. Therefore, he is well-versed in whatever he thinks and stands up for that cause no matter what. His capability and practice to question everything make him more convinced of the cause he stands up for. He can then influence people to become better and gain followers to support his mission and vision towards a change he wishes to bring into the world. 5. BE A RISK-TAKER A good leader is constantly in quest of transforming things, no matter how little they may appear. He then aims to bring change. To be the change, he needs to make significant changes to his attitude, and one of the most important characteristics of a leader is that he is a risk-taker. Risk-takers never run away from their troubles but fights the battle. They never shy away from criticism, support their cause, and soon become the change they wish to see. 6. BELIEVE IN YOUR ABILITIES A leader knows what he desires and is not convinced or influenced by what other people believe or do. He confronts discouragement and is convinced about himself and his mission. He works towards evolving into a better individual. Becoming a better individual is

what makes someone a better leader. He prepares himself to not break under pressure and face any situation that may turn up. Successful leaders are always composed and think logically rather than steered by emotions. 7. DETERMINED If you want to be a leader, not a follower, then you have to be determined enough to reach your goals. They said it right “Nothing is impossible. “ The only limitations you have are the ones you set for yourself. It might seem impossible, but you have to keep trying. If you get stuck or got down, get back up. Remember, we all get knocked down in life, but there are only 2 choices: whether to give up or keep on trying. 8. LOYAL Loyalty is important, especially when it comes to your goals. Being loyal to your idea helps you in the long run. There may be a time when you don’t know what to do, but you need to keep pushing until you achieve that goal. If you give up on your aim, you won’t make it. It may seem like a good idea to give up on your vision and do the right thing and get a job, but you will grow if you keep moving. Moreover, the people who you surround yourself with also matter. 9. OPEN-MINDED Being open-minded to new ideas is a wonderful tool in being a leader. Leaders don’t always do what they desire. Sometimes they get guidance on how to progress from their teammates. If you don’t allow your teammates to pitch in once in a while, you will never get anywhere. While discussing new ideas, you have to be ready to hear others’ opinions. If you aren’t ready to listen to others’ opinions, you just come across as pretentious. 10. BE A PEOPLE PERSON A leader knows how to convince people to support him in his goal. He takes complete charge of his vision. A leader understands how to work with others and form healthy relationships. He understands how to keep accommodating and professional relationships. He does not become friends with everyone but understands how to get the work done. Therefore, to be a leader, you have to be a people person and influence them. FINAL THOUGHTS In this post, we have seen how you can become a leader not a follower. We have discussed 10 different traits that you need to have to become a successful leader. Make sure you read all of them carefully and implement the same.

June 2022 Business Talk | 51 |

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