Business Communique | Issue 2 | July 2021

An initiative of

BUSINESS COMMUNIQUE ISSUE 02 / JULY 2021

INSIDE THIS ISSUE HOW TO LEAD IN THE FACE OF UNCERTAINTY // 5 WAYS TO TAP INTO CHANGE AS OPPORTUNITY // 5 WAYS TO SPARK THE FLAME OF INNOVATION

BUSINESS COMMUNIQUE / ISSUE 02 / JULY 2021

HOW TO LEAD IN THE FACE OF UNCERTAINTY 4 DO’S AND 1 DON’T With the word “unprecedented” being peppered into almost every corporate meeting or brainstorming session, it’s important to understand how strong and confident leadership can drive sustainable results, despite how uncertain times may seem.

1. Remember That Perfection Doesn’t Exist We’ve been told that planning makes perfect, but is that truly what we’re setting out to achieve? The perfect strategy might not ensure the perfect results, but that doesn’t mean that it wasn’t effective. Try to let go of the debilitating idea that perfection is paramount, and instead focus on how your results, good or bad, can be used to shape your next strategy.

2. Bend Don't Break Being flexible doesn’t mean compromising the results and goals that you envision for your team or your business. It means being able to adapt and re-think certain elements and plans when your current situation changes.

Teams that rigidly stick to one set way of doing things, might not be able to achieve the milestones they’d like to. This is simply because there is no one-size-fits-all strategy that can keep driving the same results. Times, audiences and objectives change, so make sure your team can change with them.

3. Rely On Your Team As a business owner, you might feel it your responsibility to shoulder the brunt of the pressure in times of uncertainty. While noble, it could negatively impact your team if you’re put under unnecessary pressure.

It’s important to remember that the people who drive your business were chosen to be a part of your team for a reason. Each of them has the skills and insight they need to give you valuable perspectives on possible solutions, ideas and risks that could change the trajectory of your business during unstable times.

Transparency is invaluable, especially during unstable times. So, with that in mind, make sure to share your hopes, goals and some of your worries with the people who need to help you achieve your objectives.

4. See The Bigger Picture We believe that this ties into the first point of letting go of perfection. While it might be tempting to completely break down each individual project or objective into the smallest parts and do each one perfectly, this might be stifling your potential for amazing results. It’s important to be able to see each step, objective or goal as a part of a whole. Not only will it help you prioritise, but it’ll also help you recognise the relationship between each individual part so that you can understand what you need to do next.

BUSINESS COMMUNIQUE / ISSUE 02 / JULY 2021

6. DON’T BE AFRAID TO ASK FOR HELP REACHING OUT TO OTHER INDUSTRY PROFESSIONALS OR ADVISORS DURING DIFFICULT OR UNCERTAIN TIMES ISN’T A SIGN OF WEAKNESS. CHANCES ARE HIGH THAT THEY’RE DEALING WITH THE SAME STRUGGLES AND MIGHT APPRECIATE YOUR INPUT!

Want to know more?

Reach out to Business Engage by contacting colleen@businessengage.co.za to learn more about how to join a group of individuals and companies navigating the uncertain waters together.

BUSINESS COMMUNIQUE / ISSUE 02 / JULY 2021

INSERT BY COLLEEN LARSEN, CE BUSINESS ENGAGE

WE'VE REALISED HOW MANY ARE STRUGGLING TO ADAPT AND KEEP AFLOAT DURING THESE NEW TIMES, AND THEREFORE WE HAVE DECIDED TO INITIATE THIS MONTHLY DIGITAL COMMUNICATION AS A WAY TO PROVIDE INSIGHTFUL INFORMATION TO THOSE WHO NEED IT.

www.businessengage.co.za

BUSINESS COMMUNIQUE / ISSUE 02 / JULY 2021

5 WAYS TO TAP INTO CHANGE AS OPPORTUNITY How Your Workplace Can Not Only Survive, But Thrive

The past few years have been a rollercoaster to say the least. So, how do you maintain a stable, sustainable working culture and space when the only constant is change?

To be able to adapt to ever-changing workplaces, we’ll need to shift our mindset regarding how we view change and its impact on our business and professional goals. Here’s how.

Keep Your Eyes Up and Your Ears Down Information is power. If your team or business is the first to know about relevant changes, potential obstacles and important updates in your industry, you’ll be the first to adapt to them. It’s also important to understand that you won’t be able to process every single piece of information being shared.

You’ll need the expertise of a team that can not only pinpoint valuable and accurate streams of information, but also suss out the things that have a direct impact on your business and workplace. This includes (but is not limited to) economic, political, social and environmental changes in and around your industry. Once you know more, you can start planning your next move to create a workplace that drives innovation, diversity and resilience.

Try. Fail. Learn. Repeat.

To be able to adapt your workplace to suit changing needs and circumstances, you’ll need to be able to let go of your fear of failure. Once you’ve pinpointed different strategies that might suit your needs as a team and a business, put them to the test. Whether your plan or strategy works or not isn’t the only defining factor of success. Failure gives you a solid foundation of knowledge about what you can avoid, what you can improve on and what you can do to ensure better results in the near future.

BUSINESS COMMUNIQUE / ISSUE 02 / JULY 2021

Be A Type R Leader Type R Leaders are uniquely suited to the changing circumstances that have been the norm for the past few years. These types of leaders are classified as people who are not only able to weather constant and often drastic change, but also use it to their advantage to completely reinvent their goals, objectives and workplaces too.

One of the things that Type R Leaders do very well, is to see crises as opportunities instead of setbacks. They embrace changing workplaces and conditions because they know that changing the rules of the game means that new winners can step up to the metaphorical plate.

Take A Minute to Look Back Reflect on the processes, strategies and objectives that have worked for you in the past, and identify the things that are keeping them from working now. That will be your first step towards creating a workplace and business that can not only face change, but embrace it.

Want to know more?

Reach out to Business Engage by contacting colleen@businessengage.co.za to learn more about how to join a group of individuals and companies navigating the uncertain waters together.

You're Invited

LeadersWalk

13 July 2021 | 09:00 - 11:00 CAT Virtual Event - Microsoft Teams Business Engage is an exciting and inventive organisation at the forefront of strategic thinking on gender mainstreaming in the private sector.

About The LeadersWalk The Concept The Virtual Leaders’ Walk has been created by Business Engage to nurture the development of aspiring leaders and to help them unlock their future potential. This is done during an interactive networking breakfast that will encourage meaningful engagement and dialogue.

Business Engage is partnering with Women in ETFs for the LeadersWalk event on 13 July.

Click here to register

Women in ETFs BREAKING THE MOULD: Tales from the fast-growing Exchange Traded Fund (ETF) industry WE SA – Women in Exchange Traded Funds (ETFs) South Africa. ETF’s are one of the fastest growing segments of the financial services and investments industry.

Women in ETFs (WE) brings together people in the ETF industry across the globe to champion our goals of actively choosing equality, diversity, and inclusion. We are bold and fearless in our mission to develop and sponsor talent, recognise and honour the achievements of women in the industry, and invest in the ETF community.

We have many male members who share our goals and we welcome all genders in the organisation.

Learning Outcomes Part 1: Setting the Scene | Women in ETF’s (WE SA) | What is passive investing and index-tracking?

Part 2: Adoption Hurdles, Challenging entrenched beliefs, Changing human behaviour | Emotional vs Rational | Decision-Making Part 3: A South Africa First Part 4: Panel – Fireside Chat

An Initiative of

BUSINESS COMMUNIQUE / ISSUE 02 / JULY 2021

5 Ways to Spark the Flame of Innovation How To Drive Creativity and Results in Your Business

Dedicate Business Hours to Creating New Ideas Did you know that there’s a job title for someone who comes up with new ideas? More than 60% of companies have hired a chief innovation officer who is responsible for conceptualising and driving new ideas and initiatives.

However, they’re not the only ones who have the power to create and innovate. Each member of your team has a unique perspective on what you do and how you should do it, so be sure to set aside a certain amount of time each week or month where you’re entirely dedicated to coming up with and sharing new ideas. A company called 3M even sets out 15% of each day to encourage their employees to daydream constructively!

Give Them a Space to Share Each individual employee and team member won’t be able to visit the CEO’s office with every new idea that they come up with. You need to create and maintain a professional, controlled space where employees can share their ideas and make sure that they’re documented, overseen and taken into consideration.

Whether you’re planning to have in-person brainstorming sessions, or you’d like to build a team platform that’s solely dedicated to hearing what your team members think about your new ideas, make sure they know that it’s open to use.

BUSINESS COMMUNIQUE / ISSUE 02 / JULY 2021

WANT TO HEAR STORIES FROM INDIVIDUALS AND CORPORATES WHO ARE USING INNOVATION TO NAVIGATE THE CURRENT BUSINESS ENVIRONMENT? REACH OUT TO BUSINESS ENGAGE TODAY BY CONTACTING US AT COLLEEN@BUSINESSENGAGE.CO.ZA

Show Some Recognition When one of your team members shares an idea, piece of information or different perspective that carries some real weight, make sure you acknowledge it publicly. Not only is this a great confidence boost that will drive that employee (or team) to do it again and again, but your positive feedback will also encourage others to speak up when they have something to say.

This will show your team members that you truly value their input and perspective, which will create a more innovative and inclusive culture all around.

Build A Future Companies that prioritise innovation attract employees who want to innovate. There are millions of brilliant minds waiting to share what they think with a brand that’s willing to help them build their ideas. This way, your company will be able to retain the talent that will not only skyrocket your daily innovation, but follow it through to real, tangible benefits and results.

Prioritise Leadership Over Management As a business owner or manager, you’re tasked with so much more than just making sure your team members show up to work and get their jobs done. You’ll also need to show your team members and employees that you’ll innovate with them. As their leader, you’re setting a standard that’s clearly visible to everyone under you, which means that you need to exude an innovative, creative and inspired attitude that will encourage them to do the same.

Join as a member of Business Engage Membership runs for one year from the date of payment of the membership fee.

Benefits include: Free access to the monthly Virtual LeadersWalks and BoardWalks which include attendees from across Africa – recordings available when possible | Access to thought leadership, research, events, best practice | Corporate Gender Intelligence events with speakers from across the world | Annual Voices of Change event in August.

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