The Power of Gratitude in Business

“Thank you” are two powerful words that can uplift someone, build bridges and strengthen relationships. It is a significant aspect of life, even in business and in the workplace. 

Gratitude and appreciation are types of affirmation of something that is good, magnifying positivity and encouraging people to perform better. With this, entrepreneurs and business owners see the value of thanking their staff members, partners, and clients and putting effort into expressing it in various ways.

For Hayden Brass, Founder and Managing Director of Zea, “This is an aspect that we find so important, particularly for our staff and customers. With our staff, we are a fully remote team even before COVID, so it is vital for us to continue to connect with them and remind them they are part of a team with a great purpose.”

There are so many ways to show gratitude towards others. David Fastuca, CMO and Co-Founder of Locomote, shared his personal take on this. “I take a really simplistic approach to this and just think, how do I want to be thanked?”

David cited some examples. “I do a role reversal. If I'm a customer of someone else's, how do I want to be thanked? There are a couple of ways. I just try to be really genuine and thank them, where I send a little video message thanking them for working with us. I don't do any of the gifts or sorts of stuff because they probably get 100 different gifts. If I gift them, it's based on me really knowing them. They might love arts and crafts, so I may send them something that's relatable to that. Otherwise, I try and help them in their role. If I know that they're in sales I try and refer customers to them. If they're a founder of a business and we've done some work together or they're a customer of mine, I'll try and reciprocate and then recommend someone to them. If they're looking for a particular type of service, I really think about it and put myself in their shoes – what would I like and how would I like to be treated, and then I try and do more of that to my customers and try and help them succeed in their roles even if it's got nothing to do with what we provide,” he said.

Studies have shown that gratitude evokes a feeling of positivity, happiness and satisfaction. It also helps in improving health and decreasing stress levels. This is why gratitude, when expressed sincerely, can be a significant factor in strengthening relationships in business and in the workplace.

Hayden also shared how they extend gratitude to their team members, partners and customers. Within their organisation, “We conduct 1-2 retreats per year, try and have a team-building exercise of some kind at least once a quarter, and regularly celebrate birthdays and other occasions in their personal life. It’s to remind them that we are human and to show that we care about them in both their work and personal lives.”

With regards to their clientele, Hayden noted, “For our customers, we are always trying to go above and beyond with their experience so that it will be memorable and will hopefully see them come back to us in the future. This is why we place such a key focus on customer service and making sure we not only answer their questions but try and give them an experience that is beyond the norm.”

When it comes to those they do business with, this is what they do as a sign of gratitude. “And finally, with our partners, such as manufacturers and suppliers, we try and treat them with respect and loyalty. We understand how difficult it can be to run a business, particularly an SME, so we are always trying to be professional but also respectful of the challenges we are both facing and coming to a solution together. When we are establishing a relationship with a key partner for the first time, it has been important for me to build trust in the relationship from the outset. Some of our longest and strongest relationships in business have been with us for the whole journey, and it all started from making a bit of extra effort and understanding from the beginning,” Hayden revealed.

There are so many ways to express how thankful we are to people who have helped us along our entrepreneurial journey. No special occasion is needed to say “thank you” to someone because every day you’ll find a reason to be thankful for something good done to you. People will remember your good gesture of thanking them and appreciating their work, help or loyalty. It will create a positive ripple effect that will later come back to you a thousandfold.

How do you express gratitude to your stakeholders? How does it help you in your business? We’d like to hear your stories through our comment section below.

The beauty in diversity: a mentorship experience

Learning comes from various things and in many ways, and oftentimes, how we differ from each other helps us widen our knowledge and understanding of the space we live in and move around. Such can be said for mentor Emma Duffy, Learning Director at ProActive Training, and mentee Hayden Brass, Founder and Managing Director of Zea.

Mentor Emma Duffy and mentee Hayden Brass share their mentorship experience and learnings from it.

Other than running a business and being business owners, they haven’t necessarily spotted their similarities or commonalities. But despite having different businesses, they found themselves at a very good start when they met for the first time at the Mentorship training.

“Working together in the training session that Carlo ran, I thought that was a really strong start to the whole program for us as I feel that we got to know each other pretty well and understand what we both wanted out of the program and that we at least got a framework to build on from that,” said Emma.

Hayden concurred, “We have very different businesses, which are, in some ways, what you’d want. Although we had no common ground for this, I think we've learned a lot from each other in that way as well because we've had different experiences and different industries, which has been really great. So, it's been a great element of the mentorship.”

He continued, “We started off really strong catching up almost the same time every month and being able to come away with different viewpoints that I have not necessarily thought of. 

We have quite different businesses, quite different lives, and quite different ages as well. A lot of different elements allowed for really valuable insights and learnings from that perspective. I think that just having those differences made it really valuable in making me think outside the box and think about things differently.”

The whole journey has also provided them with more insightful experiences and new learnings. For Emma, it has encouraged her to think in an unusual way. She narrated a time when she was frustrated with not being able to give training ideas to Hayden because what her business did could not necessarily fit his needs or his team’s needs. 

“After our last catch-up when it came up again, I thought, ‘Well, I'm not going to walk away and stay frustrated or feel like I don’t have an answer in my area of expertise.’ In fact, it has prompted me to come back to my desk and actually do a whole lot of research into various apps and system processes that are available in the marketplace and find ways so that when we catch up next, I could go back to Hayden and say, ‘Well, these are some ideas that you could take into your business and use in your business.’ So, it's really stretched me to think a little bit differently about what businesses need in terms of training. It's then pushed me and my business partner to really reconsider how we set up some of our own compliance requirements in the business and how we could potentially develop them into a type of software that we could take to the marketplace. It's a huge gift that that sort of thinking pushed me to do something really different for me, my day-to-day work, and our business. I would never have done research on apps and processes otherwise,” Emma explained.

On Hayden’s part, he has gained a lot of ideas and perspectives from their mentoring sessions throughout the year. “What happened was with the first six months, and they're very well aligned, we had these three sets of goals which we set around leadership, etc. I think for me it was a lot about being able to come to the table with a little leadership challenge or a hiring challenge and then hearing a perspective that's quite different and new. That's been really valuable. It's also been good in that we've been able to bounce different ideas off each other within a meeting. I'd come either pre-planned, and we've done it before, and mentioned a few key things that we wanted to cover. It's given us a chance to reflect on it and review it, whether it's a staff leaving or a staff deciding to ask for a big wage increase or whatever challenge it might be that I’m having. It's just that back and forwards and getting that new perspective on whatever it might be.”

For the duration of their mentorship journey, both Emma and Hayden enjoyed their interactions and the key takeaways they get from their conversations.

Emma shared, “I really enjoyed the consistent and regular catch-ups. Hayden's business has gone through amazing growth in the last 12 months in the time that we've been working together. It was really interesting to see and learn about that. That was I guess one of the main things, from my point of view. It was just great. I've really enjoyed those conversations and I walked away each time hoping I might have added a little bit of value.”

As for Hayden, “It was a very broad goal that I've set in becoming a better leader. I think it doesn't come down to one or two things. It comes down to a multitude of things that have happened in the mentorship program and also in the growing of the business and coinciding with one another to get that. It's a long way to go, but definitely, I think I've achieved that in that 12-month period. A lot of it comes down to little bits and pieces that have come together to make a big difference in mindset or ways that we are reacting to different scenarios. It's all been really valuable from that perspective.”

And what’s the secret behind a successful mentorship experience that others may consider when getting into mentorship?

“Commitment is definitely one of the biggest ones,” Hayden remarked. “You need to go in there with the commitment that you're going to do this on top of your normal workload and normal forum and whatever else you've got going on. The other aspect would be to be really clear on what you want to get out of it when you're applying for it, who the type of mentor that you're looking for, and what is the specific area that you want to get the most value from because if you're very specific on that, that helps the team to assign a good mentor to you. I think it’s being very specific on those and differentiating it to what you want to get out of your forum or other learnings or whatever that might be and have a really specific goal for your mentor-mentee relationship because that can make a big difference as well.”

Emma was in agreement on the importance of commitment to make one’s mentorship journey a valuable one. “I completely agree. With preparation, just to do a bit of thinking beforehand to maximize the one hour, Hayden was really disciplined about contacting, setting the meeting time up, and turning up. We were there for one hour and then we were gone. It didn't linger on. There was really a focused time commitment.”

EO Melbourne’s Mentorship Program is one of the significant programs of the organisation that members can take advantage of and benefit from. Each experience is different and unique, and the value it can provide to both the mentor and the mentee can be priceless.

All things B Corp

Nowadays, more and more companies are becoming B Corporations, but what exactly is a B Corp?

EO Melbourne recently held a virtual masterclass about B Corp certification. Andrew Davies, CEO of B Lab Australia and Aotearoa New Zealand, joined the masterclass as one of the resource speakers and spoke in detail about their organisation, B Lab, and about becoming a B Corp.

“Our vision, as an organisation, is for an inclusive, equitable, and regenerative economic system for all people on the planet,” Andrew Davies said.

“B Lab is the organisation behind the B Corp Certification or the B Corporations. We started in the US in 2007 and in this part of the world in 2013. We operate as a global network so each B Lab organisation is an independent entity and we look after Australia and Aotearoa New Zealand. We’re best known for certifying B Corps or B Corporations,” he further explained.

EO Melbourne Members Rob Roy Rankin, Director at Rankin Business Lawyers, Andrew MacKinnon, Cofounder and CEO of SOON Future Studies, and Hayden Brass, Founder and Managing Director of Zea, whose businesses are already B Corps, shared their experience in going through the B Corp certification process as well as the multiple benefits they gained by becoming B Corp certified.

Andrew Davies also expounded on what entails becoming a B Corp. “They’re businesses that meet very high standards of social and environmental performance. They measure and manage their impact on the environment and community. They work as the suppliers and business partners and they adopt governance models that hold themselves to account for that impact. To be a B Corp, you have to be certified by B Lab. Effectively, it’s about having your performance across these standards verified by our team for what is a pretty rigorous process.”

B Corp is a designation that a business is meeting high standards of verified performance, accountability, and transparency on factors from employee benefits and charitable giving to supply chain practices and input materials. In order to achieve certification, a company must:

• Demonstrate high social and environmental performance by achieving a B Impact Assessment score of 80 or above and passing B Lab’s risk review. Multinational corporations must also meet baseline requirement standards.

• Make a legal commitment by changing their corporate governance structure to be accountable to all stakeholders, not just shareholders, and achieve benefit corporation status if available in their jurisdiction.

• Exhibit transparency by allowing information about their performance measured against B Lab’s standards to be publicly available on their B Corp profile on B Lab’s website.  

Through this virtual event, participants were able to learn a lot of information about B Corp Certification and understand the process, as well as appreciate the benefits that this certification could bring to their businesses based on the testimonials of the panellists.

How about you, have you considered becoming a B Corp? Let us know your thoughts through the comments section below.

How to deliver engaging and impactful presentations

Presentations are essential in a business. People present their ideas or topics during speaking engagements, proposal meetings, and various events across different industries and sectors. But how do you make killer presentations that are impactful enough to draw your audience to your message?

Entrepreneurs and business executives nowadays are being tapped to talk about their experiences, expertise, insights and entrepreneurial journey stories to inspire others. Members of EO Melbourne share with us some tips on how to hook and attract your audience when presenting as well as keep them engaged and interested in your presentation.

1. Connect with your audience

“Be real.” This is what Jeremy Chen, Managing Director & Co-Founder of Good Things and Co-Founder of Hustleboard, imparts to those who want to learn how to deliver an effective presentation. The best way to make a connection with the audience is to be sincere and authentic in one’s words and disposition, and not try too hard to impress your audience.

This is backed by David Fastuca, CMO and Co-Founder of Locomote, when he said, “Just like how we do in EO, we're sharing experiences all the time. It is by making these presentations based on your experience or the experiences that you've delivered for your customers and bringing those results through because then they can say, ‘Well, I'm like this customer. I can get results like this based on how they did that.’”

True enough, the best presentations are those that can capture the attention of the audience, sustain their interest, and get them to retain the message you have conveyed. “The most effective ones I have done for the business are those where it is clear that I have been able to establish an emotional connection with the audience and they feel like they are part of the journey and the challenges that we have had along the way. Getting buy-in and interest from the audience from the beginning is so important,” shared Hayden Brass, Founder and Managing Director of Zea.

2. Make your slides visually pleasing

Renata Freund, Founder & Director of Honeycomb Strategy, shares valuable insights based on the work they do. “As a research agency, our success is centred on our ability to clearly communicate insights that are easy to understand and compelling. Here is one of our go-to tips and tricks to wow your audience with your presentation: Visual design is never optional.”

“When information, insights or data is presented in a format that is visually appealing, your audience will naturally be more open and receptive to what is being communicated. The visual design needs to come first, not be an after-thought in your presentation,” Renata remarked.

The visual design includes the template you use, the background of your slide, the colours, the layout of the presentation, the illustrations, photos and graphs that are included in the slides, as well as the font and size of the text. All these must be cohesive and well-thought-of to ensure that they are appealing to your audience.

3. Use fewer words and text

Renata adds another tip to wow your audience: Let imagery do the talking. “As a general rule, we try to keep the text on the slide to no more than a short heading plus 3 bullet points. We use photography and iconography as visual cues to support the story, without having to spell out every insight with words,” she said.

David concurs based on his experience as well. “The best ones have always been if you've got slides up on the screen or doing a zoom, know your basic things. It's common sense now these days, but a lot of people still get it wrong, which is not to have too many words on a page. Try to have more pictures that convey what you're saying on screen so that they're not reading something word by word, but they're getting the gist of what you're saying by the imagery that's on there.”

Jeremy summarises it in two words – “Be concise.”

4. Let your personality shine through

The third tip Renata has in making an impactful presentation is to “Let your personality shine through.” 

She expounds, “The one thing that all great communicators have in common is the ability to let their personality shine through. Your presentation should be no different. Bringing fun, humour and your own personal touch to your presentation will build credibility and warmth with your audience.”

5. Put some fun in your presentation

Speaking of fun, David shares that it can make a presentation more memorable to the audience. He reveals, “I try to make all my presentations a bit fun, such as having a meme or a gif that people can relate to or that could get a bit of a smile from the audience. It can be risky if it doesn't come off, but when it does, it has a real impact.”

He further added, “People will remember you as the one that made them smile and the one that made them feel good about the topic that you're talking about. Depending on what you're talking about, it could be a relatively boring or stale topic, so you want to lighten it up and have a bit of fun with it.”

6. Give good key takeaways

Lastly, adding a summary at the end of the presentation will make it easier for your audience to recall and digest everything that you’ve said. According to David, “Give people some really good key takeaways. It doesn't matter what you're presenting or what you're explaining, there's always something that people can learn. I found that doing a summary makes it easy for people to get key takeaways. I put them on one slide and allow myself to put a little bit of text there so that people can know what I'm talking about and they can write it down or screenshot it. I think that helps create a presentation that is impactful and engaging.”

Moreover, take time to practice and hone your skills. Take the opportunity to present when it comes knocking at your door. Better if you record your presentations and review them later on so that you can see how you can further improve your presentation skills.