Most Successful Business Leaders to Watch in 2023

WWW.THEENTERPRISEWORLD.COM | AMERICAS EDITION | OCTOBER 2023

Most Successful

BUSINESS LEADERS To Watch In 2023

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From Editor’s Desk

B

ecoming a successful business leader is a complex and multifaceted process that requires a combination of personal traits, skills, knowledge, and experience. At its core, leadership is about influencing people and organizations towards a common goal or vision, and it requires the ability to make tough decisions, inspire and motivate others, and adapt to changing circumstances.

One of the key traits of successful business leaders is a clear and compelling vision of where they want their organization to go and how they plan to get there. This requires not only a deep understanding of the industry and market trends but also the ability to think creatively and take calculated risks.

Featuring for The Enterprise World’s this issue of The Most Successful Business Leader to Watch Out are the stories of such leaders who are inspiring others.

For the cover story read aboutJerry O’Dell, as a leader, exemplifies qualities that are integral to his success and the growth of AgBio Logic. His leadership approach is marked by resilience, consistency, and determination to succeed. O’Dell’s resilience shines through as he faces and overcomes challenges in the agricultural industry, particularly in promoting biostimulants.

He doesn’t shy away from adversity; instead, he leverages it as an opportunity for growth and innovation. His consistent dedication to the company’s mission has been a driving force behind its accomplishments.

As a leader, O’Dell fosters an environment where every team member feels valued and motivated. He encourages open communication and collaborative problem-solving, enabling the team to collectively address the ongoing challenges in the industry.

His leadership style promotes autonomy and creativity, empowering team members to explore new avenues and solutions in the pursuit of agricultural innovation. Under his guidance, the team at AgBio Logic has not only thrived but also contributed significantly to the rapid growth of the biostimulant sector, making strides toward a more sustainable and productive future in agriculture.

Shalmali Shalmali W.

The Enterprise World, 1985, Henderson Rd, Columbus, Ohio, 43220

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This list is NOT a ranking. The companies on listed in magazine serve different aspects of the market, making ranking them in any order except revenue impossible and unfair.

We try to bring a perfect platform for business organization to showcase their valued products/ services.

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Jerry O’Dell, as a leader, exemplifies qualities that are integral to his success and the growth of AgBio Logic. His leadership approach is marked by resilience, consistency, and determination to succeed. O’Dell’s resilience shines through as he faces and overcomes challenges in the agricultural industry, particularly in promoting biostimulants.

He doesn’t shy away from adversity; instead, he leverages it as an opportunity for growth and innovation. His consistent dedication to the company’s mission has been a driving force behind its accomplishments.

As a leader, O’Dell fosters an environment where every team member feels valued and motivated.

He encourages open communication and collaborative problem-solving, enabling the team to collectively address the ongoing challenges in the industry.

His leadership style promotes autonomy and creativity, empowering team members to explore new avenues and solutions in the pursuit of agricultural innovation. Under his guidance, the team at AgBio Logic has not only thrived but also contributed significantly to the rapid growth of the biostimulant sector, making strides toward a more sustainable and productive future in agriculture.

LEADERS IN SPOTLIGHT

For the cover read about-

CONTENTS

12

Jerry O'Dell

What Makes Cales de Mallorca A Perfect Getaway Destination?

How Coca-Cola Unbottled Brilliance to appease Masses?

10 Steps to Finding a Banking Partner That Supports Your ntrepreneurial Vision

UPSHOT

22 CASE STUDY

30 Article

40 REVIEW

HUBSPOT

44

JERRY O’DELL Steering Agriculture towards a Bright and Sustainable Tomorrow AgBio Logic, LLC | CO FOUNDER, OWNER

12 | October 2023

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T The advances in plant genetics and biotechnology are having a major impact on agriculture. One such significant development in plant genetics has been the development of next-generation sequencing (NGS) technologies among others. These technologies are being used to develop new crops that are more productive, nutritious, and resilient to pests, diseases, and climate change.

As a result, they have the potential to help to feed a growing global population and to reduce the environmental impact of agriculture. In addition to this, there are a number of other areas of research that are showing promise. Scientists are also developing new ways to use plant viruses to deliver genes to plants. They are also exploring the use of synthetic biology to create new plant-based products.

These advancements have sparked a surge in both corporate interest and capacity to deliver high-quality biological products to the agricultural industry. AgBio Logic LLC has been consistently providing top-tier products for crop production for over three decades from its base in South Carolina, USA. Since its establishment in 1991, Jerry O’Dell, co-founder and owner of AgBio Logic LLC, has been actively cultivating a biological biostimulant market tailored to the needs of the United States.

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Biostimulants: The Hidden Gem

A New Paradigm in Farming

Biostimulants can be best defined as substances and/or microorganisms, according to the European Biostimulant Industry Council.

When these substances are applied to plants or soil, their primary function is to stimulate natural processes that enhance nutrient uptake, nutrient efficiency, abiotic stress tolerance, and overall crop quality.

According to O’Dell, utilizing biostimulant products with diverse modes of action and a variety of substances and microorganisms can lead to a higher and more consistent return on investment (ROI) than relying on a single form of substance or microorganism. This sets AgBio Logic products apart from most others available in the U.S. Notably, there is a growing trend in products that incorporate multiple biostimulants.

AgBio Logic’s significant impact in the biostimulant sector largely stems from its early years of conducting field trials for various vegetables and crops. O’Dell says, “During the initial decade, we focused on securing research trials for a range of crops, most of which were carried out by land grant universities in the Southeastern region of the United States. The products used in these trials were a combination of seaweed extracts, humic acids, nitrogen, phosphorus, and potash, as well as macro and micronutrients.”

In 1997, collaborative studies were initiated with Dr. Ronnie Heiniger, a cropping systems specialist from North Carolina State University.

These studies involved soybeans, wheat, and corn. Among the findings, the most impressive results were observed in corn, where a product applied in a 2x2 configuration with starter fertilizer at planting led to significant yield increases.

AgBio Logic actively sought out corn farmers who were already implementing precision farming practices and using yield monitor technology. These farmers served as valuable partners in assessing the return on investment associated with incorporating biostimulants as part of their input strategies.

The company’s initial product featured a blend of humic acids sourced from leonardite ore and a seaweed extract produced by a Norwegian company.

Since then, AgBio Logic has developed numerous formulations. The company’s flagship soil-applied product, Start Right 2.0, combines multiple biostimulants in a single product.

It consists of a mix of nutrients sequestered within a concentrated carboxylates blend, which mimics the secretions of beneficial soil microbes.

This unique carboxylic acid aids in plant growth and reproduction in numerous ways such as reducing physiological stress caused by phosphate bound calcium, iron, magnesium, zinc, and excess sodium. This formulation is further enriched with fermented plant extracts, amino acids, ten essential plant vitamins, extracts from Ascophyllum nodosum seaweed, and sixteen carefully selected soil bacteria.

With the introduction of this flagship product, AgBio Logic has reached new heights in the field of biostimulants. In recognition of its outstanding contributions, the company was honored as the Top Agri Biotech Company of 2022 by Agri Business Review. This accolade underscores their commitment to innovation and excellence in the agricultural biotechnology sector.

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Enhancing Crop Performance with Specialized Solutions Start Right 2.0 has firmly established its reputation as a standout product, gaining the coveted endorsement of a prominent seed company. Its proven efficacy shines most brightly in the heart of the American agricultural landscape—the Midwestern states, renowned as the corn belt.

Operating within the overarching framework of the company’s esteemed foliar product line, known as ‘Over The Top,’ each offering undergoes a meticulous formulation process tailored to the precise needs of various crops. Take, for instance, the exemplary ‘Over The Top Soybeans D.S.’ This dry-soluble solution stands as a testament to the company’s commitment to excellence.

Infused with the power of carboxylic acid and seaweed extract, it boasts a nutrient profile with 6-0-18 ratio of nitrogen, and potassium. Moreover, this exceptional blend includes an extensive array of macro and micronutrients such as magnesium, sulfur, boron, cobalt, copper, iron, manganese, molybdenum, and zinc, ensuring that crops receive the vital elements necessary for their optimal growth and development.

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“Agricultural innovation is the key.”

AgBio Logic’s commitment to tailored solutions and proven products shines brightly. Its dedication to addressing the unique demands of various crops underscores its role as an industry leader. As it continues to pave the way for sustainable and efficient farming practices, AgBio Logic stands at the forefront of agricultural advancement,

empowering farmers across the corn belt and beyond to achieve bountiful harvests and drive the future of agriculture.

importance of educating all sectors within the agricultural industry about the benefits of biostimulants became my central focus.”

Triumphing Over Industry Challenges

He encountered discouragement due to the limited interest from agricultural product suppliers, their limited knowledge of the chemistry involved, and the reluctance of many in the scientific community to engage in field trials. Even today, some of these challenges persist.

As a pioneer in collecting data from field studies involving a blend of biostimulants and other essential nutrients, O’Dell faced considerable challenges in establishing a market for biological practices in crop production.

He says, “The realization of the

Consequently, he and other companies have taken it upon themselves to conduct their own studies, collaborating with farmers who employ precision farming practices. This effort remains an ongoing endeavor, but biological use has emerged as the fastest-growing segment within the crop inputs industry. Industry sources report an 8 percent growth rate in recent years, with projections indicating that this growth trend is set to continue, with the United States at the forefront of this global expansion.

Jerry O’Dell’s Leadership Story O’Dell, as a leader, exemplifies qualities that are integral to his success and the growth of AgBio Logic. His leadership approach is

marked by resilience, consistency, and determination to succeed. O’Dell’s resilience shines through as he faces and overcomes challenges in the agricultural industry, particularly in promoting biostimulants.

He doesn’t shy away from adversity; instead, he leverages it as an opportunity for growth and innovation.

His consistent dedication to the company’s mission has been a driving force behind its accomplishments.

As a leader, O’Dell fosters an environment where every team member feels valued and motivated.

He encourages open communication and collaborative problem-solving, enabling the team to collectively address the ongoing challenges in the industry.

His leadership style promotes autonomy and creativity, empowering team members to explore new avenues and solutions in the pursuit of agricultural innovation. Under his guidance, the team at AgBio Logic has not only thrived but also contributed significantly to the rapid growth of the biostimulant sector, making strides toward a more sustainable and productive future in agriculture.

Staying Competitive in Agriculture Contributing significantly to the maintenance of competitiveness, O’Dell remains deeply committed. He achieves this by keeping himself updated on the latest industry advancements and proactively exploring avenues to expand the business and enhance awareness.

He collaborates with a team of experts well-versed in chemistry. Along with this, they are highly proficient in formulating and manufacturing highquality products. This has greatly contributed to AgBio Logic’s success.

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“The company’s established history and impeccable reputation have solidly positioned it within the competitive agricultural industry.”

cultivates healthier crops but also reduces the adverse environmental impact, exemplifying its commitment to sustainable agriculture.

Over the course of three decades, AgBio Logic has consistently delivered innovative agricultural solutions that elevate the productivity, profitability, and sustainability of farming operations. By harnessing the inherent power of nature, it not only

The Path Forward

18 | October 2023

AgBio Logic, a pioneer in the biological industry, has been fortunate to establish valuable relationships with knowledgeable individuals and reputable companies from its inception. These partnerships have

been instrumental in its ability to formulate and manufacture high-quality products.

From the outset, the company has been driven by the mission of raising awareness about the advantages of biostimulants while consistently delivering top-tier agricultural products. Its commitment extends to seeking new discoveries and fostering lasting relationships within the industry.

AgBio Logic continues to explore opportunities in various crop products, believing in their potential to make a significant impact in the market. O’Dell says, “I am truly fortunate and blessed to witness the remarkable success that AgBio Logic and the entire industry are achieving.”

With a bright future ahead, O’Dell remains grateful for the opportunity to share it with his father, Paul, as they celebrate a century of wisdom and agricultural innovation together. They are a symbol of what dedication and determination can achieve in the world of agriculture.

“

During the initial decade, we focused on securing research trials for a range of crops, most of which were carried out by land grant universities in the Southeastern region of the United States. The products used in these trials were a combination of seaweed extracts, humic acids, nitrogen, phosphorus, and potash, as well as macro and micronutrients.” www.theenterpriseworld.com | 19

22 | October 2023

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M

allorca is a secluded island known for its tranquil beaches, stunning landscapes, architectural beauty, Festival Park, and welcoming culture. The largest island of Spain, Mallorca got its name from the Latin phrase 'insula maior,' which translates to 'larger island' or 'Bigger Island.'

Tourists around the globe have visited the island for years, with major tourism taking a surge from the 1950s. Furthermore, Mallorca has attracted many celebrities, writers, and poets due to its calming and lush beauty that helps bring more creativity to life. However, there is a lot more to this island than its scenic beauty. If you are planning a trip to Mallorca, here are some things that will help you explore the island more intricately.

Top 6 All-Inclusive Resorts in Mallorca While there are many hotels and resorts on the island, here are the best places in Mallorca to stay for you: 1. Iberostar Selection Jardin del Sol Suites The Iberostar Selection Suites Jardín del Sol hotel resides over the beautiful Costa de la Calma beach. Its 261 hotel rooms include services such as SPA, Free WiFi, an optional all-inclusive accommodation type, a whirlpool bath, and a private pool with many rooms offering a fabulous sea view.

In addition, the hotel has an exclusive VIP zone, where one can access the bar, solarium with sun loungers, Balinese beds, and direct access to the beach where you can enjoy beautiful sunrise and sunsets.

The hotel is doing its bit for a better future with initiatives to reduce plastic use and responsible seafood consumption for a better coastal environment.

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2. VIVA Cala Mesquida Resort & Spa Whether you are traveling as a couple, with friends, family, or kids, VIVA Cala Mesquida Resort & Spa caters to all. The hotel offers a range of exclusive services as the selection club, allowing you to customize your whole resort experience.

In terms of cuisine, the hotel offers various types of dishes at their buffet through their Italian and Mexican hotels and their beach restaurant Mirablau.

Overall, the experience at the VIVA Cala Mesquida Resort & Spa makes for a relaxing stay.

3. Iberostar Playa de Muro Enjoy the Mediterranean culture at Iberostar Playa de Muro. The uniquely designed rooms are spacious and sufficiently accommodate families, couples, or children. In addition, the hotel provides sports facilities for those into Cycling and Tennis.

Moreover, The Star Camp program offers a variety of fun activities for kids, allowing the adults to relax on the beach or visit the spa to destress.

4. PortBlue Club Pollentia Resort & Spa Between the bay of Pollença and the Albufereta Natural Park, PortBlue Club Pollentia Resort & Spa is a hotel amidst the natural beauty of Mallorca.

The hotel provides numerous outdoor facilities and sports options for you to choose from. Additionally, there are also various programs for the enjoyment of kids.

5. Iberostar Selection Playa De Muro Village The beaches of Mallorca are a major attraction among tourists. And Playa De Maro, where this hotel is located, is one of the top 3 beaches in Spain. The Iberostar Selection Playa De Muro Village has also won various TripAdvisor awards for its quality services, infrastructure, service, and gastronomy.

Other services include delicious food, a relaxing Spa, a Bar, and an adults-only pool. For sports fanatics, the hotel offers Through its 3 restaurants and 4 bars, the resort offers an array of dishes and drinks various sports like tennis, swimming, and for those looking to enhance their palette. To distress, there are water circuits at the spa along with Tennis courts. a number of other watersports.

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Things to do in Cales de Mallorca If you were researching for your trip to Mallorca, you probably came across Cales de Mallorca. Resided on the southeast coast of Mallorca, the resort is widely known among global tourist communities, especially from Europe and the UK. The resort is a goldmine for tourists, and if you haven't quite figured out what things to do in Cales de Mallorca, here are 8 things to help you: 1. Boat Trips Explore the coastal beauty of Mallorca more closely by choosing from various boat trips available on the beaches. As you sail through the waters, bring along your favorite seafood dishes or drop by the many restaurants ready to satiate your taste buds.

2. Island Tour The island is full of hidden natural beauty. After a relaxing time on the stunning beaches, start exploring the island for other attractive nearby places, restaurants, and other interesting local things that not many are aware of.

3. Visit Caves Cales de Mallorca is a hub for many caves, namely the Cuevas del Drach (Dragon Caves) and Cuevas dels Hams. These caves are major attractions among global tourists due to their stalagmites and stalactite formations. One can also witness classical music concerts on the way to cave discovery, performed by floating musicians.

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4. Water Sports This one is for all you sports junkies out there. Various resorts and hotels of Mallorca allow you to enter water sports to enhance your experience. On the other hand, if you don't want to indulge in water sports at the resort, plenty of other options are available.

5. Rafa Nadal Museum Mallorca Rafael Nadal is a Mallorca-born Tennis legend, considered by many as the greatest player to play the game. A visit to this museum named after him will allow you to learn about some of his career-highlighting moments and help you know him better as a person and a player. Additionally, you can also buy merchandise and other products related to Rafael Nadal as well.

6. Hiking Do you love Hiking? Then Cales de Mallorca will be a treat for you thanks to the mountains surrounding the resort, making it one of the most sought-after hiking spots among tourist hikers.

7. Local Cuisine Mallorca is blessed with a delicious food heritage.

Foodie or non-foodie, one should not miss out on an opportunity to taste local delicacies such as paella, sobrasada, ensaimada, and other seafood dishes.

8. The Nightlife Nightlife is not what most people think of when planning a visiting Mallorca. However, that does not mean it doesn't have a great nightlife scene. The resort offers a number of bars and pubs for anyone looking to experience the Cales de Mallorca nightlife.

Finally, Is Mallorca worth visiting?

The simple answer is— YES. No matter the time of the year, from the World Heritage Site Mountains of Tramuntana and Turquoise beaches that hold your attention to seafood specialties and historic sites, Mallorca is an island that secludes you away from hectic everyday life for a peaceful time. If that sounds like something you are seeking, which you probably are, then Mallorca is the place to be for you.

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Case Study

w o H

30 | October 2023

Co

Unbott

w

oca-Cola

tled Brilliance To Appease Masses?

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Which drink do you prefer with pizza and burgers, Pepsi or Coca-Cola? It is a usual thing to find Coca-Cola bottles in nearby grocery shops. If you enjoy watching sports, then it is obvious to notice Coca-Cola ads. Have you ever thought about how this brand became so huge and grew as one of your household names? In this article, you will read about the successful journey of one of the world’s leading beverage brands, Coca-Cola.

without making efforts to run many independent bottling facilities.

Learning from Mistakes The brand’s products have undergone some transformations driven by necessity. Some of them were supposed to reduce product costs and increase market share.

•

Alternative to Morphine John Pemberton, who was injured during the American Civil War, is considered to be the man behind the brand. Pemberton, who had a medical degree, was also addicted to morphine and wanted to find some alternative to it. Soon in 1885, he registered Pemberton’s French Wine Coca as a nerve tonic. It was inspired by FrenchCorsican Wine Coca.

The Kola Coca, a Spanish drink, was represented in a contest at Philadelphia in 1885, exactly one year before the discovery of Coca-Cola. In 1888, there were three versions of Coca-Cola in the market. Later in 1953, the company purchased the rights to this Spanish drink. The brand wanted to be recognized by its original name rather than ‘Coke’. Moreover, it wished not to get confused with other non-healthy drinks. In 1894, the first bottling of the drink was started at Vicksburg, Mississippi, whose proprietor was Joseph A. Biedenharn.

•

•

•

The Coca-Cola System The wide acknowledgment and spread of the brand Coca-Cola were given credit to its unique franchise distribution system known as ‘The Coca-Cola System’. The system has been operating since 1889, and the brand generates concentrated syrup which is depleted into a variety of bottles around the world. This strategy helped the company maintain control over the secret recipe of the brand

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•

Removal of Cocaine: During the 19th century when opium and caffeine were perfectly legal in the market, Coca-Cola used to contain small quantities of cocaine in it.

Due to public pressure, it took gradual steps to eliminate sources of cocaine from its products.

New Coke: Despite its massive success, Coca-Cola decided to change the formula of its product in response to the huge popularity of its biggest competitor, Pepsi.

Soon, ‘New Coke’ was launched in the market when the company anticipated that people would prefer the sweeter taste of Pepsi.

The product was a massive failure since the company underestimated the customer bond with its original product. Within 79 days, the company had to revert to its original product.

Zero Sugar: The company vowed to stick to its original product but change its recipe and packaging due to its zero sugar version. It was an optimization of flavors and existing ingredients.

Sweetener changed to high fructose corn syrup: Due to the high production of sugarcane, its prices dropped significantly. To reduce production costs, the company replaced sweeteners with high fructose syrups.

Recipe and flavor variations: The company introduced new flavors in addition to its classic CocaCola. Due to high caffeine and sugar content, some people avoided using classic Coca-Cola and preferred another product like Sprite, Maaza, etc.

Potential Growth The company has drafted a plan to execute in the upcoming years to spur additional growth. It will guide the company in reshifting its efforts towards more efficient actions. The plan includes: •

•

•

•

•

•

Focus on developing markets: The world’s major population is concentrated in the developing market, and Coca-Cola found a golden opportunity to shift its marketing there. It made brand diversification and created a strong foothold globally.

Brand portfolio optimization: The company has consolidated other products to balance its portfolio. It will be easier to focus on particular brands and spread across the world.

Brand building: With the help of resource allocation, the company delivers world-class targeted marketing.

Innovation: Coca-Cola wants to attract new customers to drink its beverages, hence its goal is to increase the frequency. The company brings more trial products and projects to raise innovation.

Revenue Growth Management: The company is planning to place focus on areas with potential growth with the help of data and digital tools. It will help to target specific consumers and address appropriate product lines.

Digital Transformation: Coca-Cola is undergoing a digital transformation to operate the organization more productively. It is leveraging data-driven decisionmaking.

Coca-Cola: A Household Name The company’s success has been mostly driven by its innovative ways of advertising and marketing campaigns.

It was the 6th most powerful brand in 2020. Its advertising budget increased

Case Study

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The exclusive thing about Coca-Cola was that from the beginning, it tried to bring human connection through its ads. The company emphasizes making people feel their identity is associated with the product. Its celebrity endorsements have targeted a vast group of customers. Its endorsements included Ray Charles, Aretha Franklin, Magic Johnson, and Elvis Presley. It made the company an outstanding part of local culture which has skillfully attached the country’s history, music, movies, etc., and Coca-Cola became a household name.

Inevitable Part of the Food and Beverage Industry Coca-Cola is popular for its key products Diet Coke and Coca-Cola. It owns 500 different individual brands worldwide. Along with owning these brands, the company successfully built strategic partnerships that helped it to grow exponentially. The list of successful partners includes McDonald’s, Subway, Domino’s Pizza, Burger King, etc. Furthermore, it has made partnerships with numerous venues around the world like stadiums, movie theaters, concert halls, etc. The company has been part of sponsorship programs for the Olympic Games.

concerns leading to type 2 diabetes and obesity. According to WHO, an adult should consume only 6 tsp of sugar every day; however, 1.5 cups of Coca-Cola contain twice the sugar. Due to this, the company has received a lot of criticism and negative attention.

It has been recognized globally as the single producer of plastic waste.

Without a plastic disposal strategy, most of its plastic goes into the ocean and creates environmental disasters.

The company started redesigning its bottle to use fewer plastics to reduce the amount of plastic used during the production process. Recently, it introduced a ‘Plant Bottle’ made from plant-based materials.

Social Media Powerhouse Coca-Cola has millions of followers across the world, making it a social media powerhouse. The company leverages the social media platform to create awareness about the brand and strengthen personalized relationships with customers. In 2018, it committed to becoming the most optimistic brand on social media. Consumers appreciated this approach and embraced the transformation.

While having a powerful marketing team, it leveraged its millions of followers to create content on its behalf. By using creative hashtags (for example, the #shareacoke campaign) for the brand, it encouraged customers to post CocaCola-themed posts. Its social media performance is as follows: •

Largest Producer of Plastic The brand has been part of serious controversies and faced major criticism despite being one of the most successful brands in the world. Being a sugary drink, there were a few health

•

The company’s website is ranked 10th among the “Food & Beverages Category” and receives 1.8 million daily visitors.

8% of the total traffic comes from YouTube, which features promotional videos on the channel.

Coca-Cola

tenfold in the last five years. This is how the company tries to maintain pressure on its competitors. Today, it is making ten percent of its total revenue on advertising and marketing. It includes approximately $4 billion on social media promotions, commercials, sponsorships, and print advertisements. In 1894, the first outdoor wall advertisement to promote the drink was painted in Cartersville, Georgia.

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Case Study

36 | October 2023

• • • •

The LinkedIn account has 6 million followers and regularly posts company updates for the business community.

There are 3.3 million followers on its Twitter account, which consists of 300,000 tweets.

The Instagram account boasts 2.8 million followers and promotes short stories about the brand.

With a staggering 105 million followers, the Facebook account ranks as the 5th most followed account on the social media platform.

Key Takeaways: Here are some key takeaways from the case study of Coca-Cola: •

•

•

•

•

The company’s long-term strategic plan includes focusing on developing countries to leverage their population and their needs. Consumer beverages have huge growth potential, which may revamp their operational network.

Its advertising approach addressed human connections to bring more innovation and creativity to the world of advertising.

Despite being criticized for having negative impacts on health and the environment, Coca-Cola continues to grow into the world’s number-one brand in the beverage category.

The secret of its success lies in cracking strategic partnerships with successful brands and expanding its business all over the world.

Within a few times, Coca-Cola was identified as an American icon by inserting its products into movies and television services. It became part of local culture and grew as a household name.

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10 Steps to Finding a Banking Partner That Supports Your Entrepreneurial Vision

Every business starts with an entrepreneurial vision, which consists of the bold and innovative ideas that drive entrepreneurs to follow their dreams and make a mark in their desired market. To realize this vision, however, would-be business owners need to find a financial partner that can understand what they're trying to achieve.

With a supportive commercial bank by their side, entrepreneurs in the Philippines have easier access to tailored financial solutions, resources, and expertise from people who can help them realize their vision. Both the funding and guidance offered by a reliable financial partner will enable budding business owners to navigate the financial landscape with confidence, propelling their entrepreneurial vision toward success. How can you reap these benefits and find a potential banking partner for business that shares your vision for your company?

Here's a step-by-step guide for finding a potential banking partner.

1. Define your entrepreneurial vision Before you even start looking for a potential banking partner, it's essential for you to have a clear understanding of what your entrepreneurial vision is really like and what sets it apart from those of others. Begin by defining your goals, mission, and values for your business. By running your own business, what do you aim to achieve?

Then, what kind of financial support will you need along the way?

By clearly defining your vision and the nature of the financial resources you require, you can effectively communicate your needs and expectations to potential banking partners. This will also ensure a better alignment of your values and goals with those of your financial partners.

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2. Assess Your Financial Needs After clarifying what your vision is like, your next step is to define the nitty-gritty of your financial needs and requirements as an entrepreneur.

Consider all the specific banking services and products that you can utilize to support your vision. These could include business loans, lines of credit, merchant services, cash management solutions, or even international banking capabilities, depending on the nature and scale of your business.

Assess your funding requirements, cash flow management needs, and any industry-specific financial challenges you may encounter while running your business. Reviewing these items will help you identify the types of banking services that will truly suit your business in your quest to find growth and success.

3. Do Some Research on Your Banking Options Next, if you run a small- to mediumsized business, do some research to identify banking options that cater specifically to entrepreneurs as opposed to large businesses or multinational conglomerates. Check out a Philippine commercial bank that has a strong track record of supporting small businesses and startups. Explore websites, read customer reviews and testimonials, and seek recommendations from fellow entrepreneurs or industry associations.

Pay attention to banks that specialize in providing financial solutions for businesses at your stage of growth.

Researching multiple options will help you narrow down your choices and select a bank that aligns with your entrepreneurial vision given your size and your needs.

4. Evaluate the Bank's Services and Expertise When assessing potential banking partners, be careful about weighing the range of services and expertise they offer. Again, look for banks that provide customized solutions tailored to the needs of entrepreneurs. Consider their experience in providing online business banking services to startups and similar types of businesses, innovative digital banking solutions, and business advisory services.

A banking partner like Maya Business, which boasts specialized expertise in the financial industry, can offer valuable insights and guidance to help you navigate various financial challenges and seize growth opportunities, all while helping you oversee your day-to-day financial needs. You'll also want to trust in your potential banking partner's ability to provide proactive support and stay updated with the latest financial trends and regulations relevant to your business. All these will set the perfect banking partner apart from others.

5. Consider the Accessibility and Technology of the Banking Solution It's also a good idea to consider the accessibility and range of technologies offered by prospective banks. Determine if they have conveniently located branches or a robust online banking platform that caters to your needs and doesn't require you to adjust to a steep learning curve.

In today's digital age, it's also essential to seek out seamless online and mobile banking experiences. Look for banks that provide user-friendly interfaces, advanced security measures, and digital tools that can streamline your financial management processes. Accessibility and technology play a crucial role in how efficiently and securely you can manage your business's financial transactions, so consider these two factors deal-makers when choosing a bank.

6. Review the Bank's Terms and Conditions Never forget to thoroughly review the terms and conditions of banking services provided by your potential banking partners. Pay close attention to fees, interest rates, transaction limits, and any restrictions or requirements you may have to

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observe, and ensure that these terms align with your business's financial goals and expectations.

Be aware of any hidden fees or charges that may impact the overall cost-effectiveness of your banking relationship. Familiarizing yourself with the terms and conditions presented by a potential banking partner will help you make an informed decision and avoid any negative surprises down the line.

7. Seek Personalized Support from Your potential banking partner Entrepreneurs often benefit from personalized support from their banking partners. Look for banks that have dedicated relationship managers or business specialists who understand the unique needs of entrepreneurs.

Banks that are committed to building a long-term relationship and are willing to go the extra mile to support your entrepreneurial journey are a good choice. Whether they're giving you advice on your financial decisions, opening up new networking opportunities for you, or connecting you with industry experts and resources, you'll definitely get more value out of your relationship with your bank.

8. Consider the Bank's Reputation and Stability Reputation and stability are crucial factors to consider when choosing a potential banking partner. You should do your research on the bank's reputation in the market and its track record of supporting businesses like yours. Assess its financial stability, longevity in the industry, and commitment to serving entrepreneurs as well as big businesses. A stable and reputable bank will instil confidence in you and provide you with the necessary assurance that you'll be amply supported in your entrepreneurial vision for the long term.

9. Schedule Meetings and Ask Questions Once you've shortlisted potential banking partners, schedule meetings or consultations with their representatives. Use this opportunity to ask specific questions about their services, expertise, and how your vision and their financial approaches align.

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Inquire about their responsiveness and willingness to understand your business. Take note of their ability to provide customized solutions, their knowledge of your home industry, and the level of enthusiasm they demonstrate for supporting entrepreneurs. These interactions will help you gauge the compatibility and suitability of each potential banking partner and narrow your choice down to one.

10. Weigh Your Final Decision Carefully After completing the previous steps, it will be time to make an informed decision and select the banking partner that best aligns with your current business goals. Again, weigh factors like their understanding of your industry, their commitment to innovation, their compatibility with your business's values, and the potential to cultivate a long-term partnership with them.

Assessing these factors will allow you to confidently choose a potential banking partner that will support your entrepreneurial journey and contribute to the growth and success of your business.

When you've found a bank that truly supports your entrepreneurial vision, you'll be well-equipped to go even further with your business.

Taking all the insights above into consideration, choose your financial partner wisely and stay true to your vision of making a difference in the world through your new business endeavours.

THE ENTERPRISE WORLD

READ LEADER’S IN SPOTLIGHT

OCTOBER 2023

Sunny Bhanushali Founder&CEO

Aliens Tattoo

Founder: Brian Halligan and Dharmesh Shah Founded in: 2006 Headquarters: Cambridge, Massachusetts, United States No. of employees: 7,525 worldwide Ofcial Link: www.hubspot.com/

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