Author Archives: Jeffrey Lee

About Jeffrey Lee

At WMA, we combine technology and expert agency services to drive cost-effective Internet Marketing strategies. By utilising our management and reporting platform we help online advertisers in Australia improve website performance. Jeffrey works closely with clients to understand their business objectives, their target audience and the competitive environment to create a comprehensive, tailored web marketing program that drives success.

Joint ventures: Secret to growing a business

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Joint venture is a mutual agreement between two businesses with a shared vision and goals. If it is executed well, it could dramatically contribute to your business’ growth.

Do you consider it essential that your business will keep growing at a steady rate? Does it matter that your business could readily keep up with the changes of economic landscape to ensure your business’s longevity and sustainability? Do you have what it take to answer the demands of the market?

To answer the above mentioned questions only mean that you have the lofty goal of seeing your business soar and grow on your watch, and one of the best things you could do is to enter into a profitable joint venture with a company who shares the same character as you do. This concept may be acceptable to others for all the potentials it entails, while for others it bespeaks of doom. To some, it is an opportunity to have so much to gain from, while to others it is a risk not worthy to try at all. Well, it’s a natural reaction, because indeed joint ventures are tricky, it can make or break your growth. But if only it is done accordingly, it could greatly contribute to your success in general.

On a personal note, I love the idea of joint ventures. Under its guise, I have formed the most fruitful business relationships which consequently impacted a positive growth both to my personal life and my business. Michael Masterson and Mary Ellen Tribby have a few suggestions to help some of our entrepreneur friends in choosing their prospective partners in joint business ventures:

Strength – you have to find a strong partner, one with strong business components that complement to yours.
Mutual gain – you to find a business partner with a capacity that you consider equal. It is detrimental in the long run if your venture started on an unequal ground.
Limited scope – Make the extent of your venture proceed in a gradual process.
Trust – your venture must be founded in trust, first and foremost
Simplicity in agreement – the complex the agreement the more ground for misunderstanding
Amicable settlement – you should have an agreed way out if ever things will not work out in the near future.
Goodwill – Both of you must have the intention to help each other to achieve your common goal.
Timing – Timing is everything. Put things into order first before you take the initiative of forming a venture, this will help you avoid confusion and disarray.

Joint venture could literally help you achieve a successful and fulfilling business; at the same time you will have the opportunity to forge a gratifying relationship with your venture-partner. The above mentioned fundamentals will help you get the best out of this business idea.

If ever you have had any experience with business venture, please feel free to share your experience. We will be more than glad to hear anything from you.

How to think with an entrepreneurial mindset

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Excellent entrepreneurs stay ahead of the game all the time. They tend to outthink their closest competitors with such class. They do this with ease and calm, and it is definitely worthy to learn their ways.

I knew a savvy entrepreneur, David, who was in the business of making bricks, who happened to found a fierce competitor in the person of Goliath, a big company. Goliath, with an intention of putting David out of business, deluged the local market with his bricks at a ridiculously low price. Imagine their surprise when David’s business flourished instead of being inevitably ruined. What they do not know is David has an entrepreneurial mindset. He has a spirit that does not easily give to a challenge no matter how great it is. Davis all the while has been purchasing the bricks of Goliath under the guise of his other business, and selling the bricks back to Melbourne at a hefty profit.

David exemplified an entrepreneurial mindset in the given scenario; a mindset that could easily craft various innovative ideas to get through a challenging phase. It is an imperative skill to develop so as to ensure the business’ future sustainability. Below are the basic ways that could help anyone develop this precious skill:

A. Conceptual thinking

This is something that cannot readily be counted. It is a fundamental need but one that do not take a tangible form. It means that you must possess certain qualities before you can develop an entrepreneurial mindset, and these are Faith, Self Esteem, Positive Thinking and Vision among other things.

B. Business knowledge

This is more like the tangible requirement of achieving entrepreneurial mindset. This covers the sum of your collective learning about the business. I believe that the reliance of some of the major companies on business thinking constructs an avenue for the soloist with greater opportunities.

C. Creativity

In every great endeavour, creativity is one essential ingredient. Creativity encompasses all and is not limited to artists. It is inherent in every human being to possess this quality, to create great ideas and putting them into great use.

The comfort zone

Everyone is particularly blessed with any of the three qualities. You do not necessarily possess the three but may be comfortable under a single premise of any of the three. There might be instances when moving out to other zone is called for, and soloist I believe are better prepared for it than anyone else.

Zone for entrepreneurs

The best zone so far is when you achieve to have the overlapping qualities of the three, or at least near to it. This may be rare but neither is it improbable. It does not come naturally though; it is a sweet product of consistently racing after it, og continually giving your best shot in anything that you do or perform. This is the zone indeed that is worth aiming for. This could keep you ahead of your competition. To be called the head of the pack. You become the leader, one who out smart and outthink anyone in your league. This is the entrepreneur zone, where only the elite of the elite are found.

If an entrepreneurial mindset helped you in any way, please let us hear your story that may we also hear f your success.

Seven simple facts of China’s growing economy

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I just came back from China, and would say that it has shown an overwhelming growth in every sense of the word over a short time span. Below are seven simple facts about their economic growth that I have come to witness during my recent visit.

1. Robust economic growth

Everywhere you turn your eyes it will be met by astonishing progress in every angle possible. Infrastructure projects are really overwhelming. Construction ventures are ever present. In almost all aspects of economy, China is really achieving rapid and consistent growth. China has recorded an 8.5% yearly growth which is by itself a feat. Indeed its economy is making an unquestionable impact that resonates to every country in the world. It is a kind of impact that made them independent from the clutches of power of United States.

2. Noticeable achievements in different fields

The stimulus package of $586 billion has revved up economic activities back to its usual form. And the results are seen in so many varying ways that can be noticed in:

Major cities around China such as Shanghai and Beijing are given magnificent improvements. Most facilities in those cities are of International standards comparable to some of the best place around the globe.
Second class cities even went through an impressive make over at all sense, gaining impressive investments along the way.
English language are now used and spoken in particular by the youth
The services they offered now are of comparable quality already with some great places abroad.

3. Increased consumption volume

Its population are increasingly consuming so much during the past years. This truth can be best seen in the streets of major cities. This however could pose a challenge for China, they should think ahead of addressing the ever increasing need of its own population while maintaining its fast-paced growth.

4. Leading renewable energy producer and user

China has been utilizing renewable energy resources to meet its domestic energy demand. Among its widely used energy resources are Solar and Wind which are evident in its usage in many of its public places. In fact, China makes use of the solar energy way greater than all the other countries in the world combined.

5. Significant increase in opportunity for private business sector

China has been extending an impressive effort of increasing the opportunity for private business sector to flourish in its system.

6. Relevant improvement in manufacturing quality

My visit made me see the many changes the Chinese government undertook to improve its quality standards in manufacturing. The world market is demanding a high standard and China took on the call.

7. Australia is ignoring China’s growth is not taking China seriously enough

Many Australians do not seem to share the same opinion as businessmen from other countries do; that China is making its way to become a global influence. Australians are not giving the Chinese much attention as they deserve, the result of which is losing many key business opportunities for which we could competitively offer especially in areas that we really have a distinct edge over the others. We have the capacity to make opportunities over these changes, and I am hoping to see a more aggressive plan of our government to put things into action the soonest time possible.

Six simple keys to earning while being creative

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Do you live by the rules of an artist? One who views himself as free from the clutches of commercialization of creativity? You can stay being creative while you make your way to earning big.

Most people with creative inclinations do not subject themselves to the bounds of business intricacies. They refuse to make compromises, and would rather starve than make simple amendments. They are masters of their own craft, unrelenting, and sometimes incredibly stupid. But when you already have mouths to feed, this carefree principle is not going to work for long. I have found out that you can earn as much as you want while maintaining the quality of your creativity. Here are a few steps that worked for me when I pursued to be creative and at the same succeed in earning:

1. Tone down your tendency for perfectionism

It is totally fine to strive for excellence in your work, however there are times that you need to tone down a bit. Creative people sometimes take longer to do one thing done because of the endless revisions. I remember when I first had a few of my assignments, I rewrite things a couple of times before getting satisfied. I have this tendency to make all things work perfectly, without glitch. However, later on I realized that this is taking me nowhere. I cannot keep on making perfect write-ups to please all that read it, because I cannot please everybody no matter how much effort I put into my writing to make it seemingly perfect. Do your works extremely well, but do it according to your own accord and not so much because you want people to perceive it as perfect. This way, you could have more freedom with your creativity less the pressure.

2. Get some fresh air outside, meet people

The downside of extremely creative people is they tend to be a loner, an artist living in an island kind of persona. They have no regards to show their works of art. Association is one of their least priorities. However, if you wish that you make money out of your creativity, you must put off this tendency. You have to meet people that could throw a favourable influence to make you gain some sales over your work. Make and build relevant relationships. Connect with an audience, and not very long from now, you will find it gratifying to be creative and at the same time being able to socialize at a certain level.

3. Be motivated

You have to identify your own motivating factor. You have to transcend your creative juices by utilizing it for a greater good. Keep your motivations on the run. Focus on something that has meaning as to why you do what you do.

4. Make plans

Every endeavour needs a plan. A predetermined goal will keep you in check why you are doing what you do now. With your plans, craft some achievable yet challenging goal that could get bigger once broken and reached.

5. Have a discipline

A good measure of discipline could enhance and encourage creativity rather than foil it. Creativity needs to be developed with some touch of personal discipline so that things are in its right order. Artists wait for their “AHA” moment before they start their work but disciplined ones can start their job anytime which is a lot more productive.

6. Stimulate your creative juices

Discipline helps a creative to put things in its right order, but it may not necessarily stimulate his creative juices. To do this, one can indulge in an activity that can accelerate an artist to achieve creative stimulation. It may differ from one artist to another, but the goal is perfectly the same, keep the creativity coming and at an optimum level.

Share to us your experience of utilizing your creativity while at the same time making generous pay out.

NLP: way to go for excellence through modelling

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Some people are just so awesome to excel in a particular area where others are constantly struggling on the same field. Let me show you how to use modelling to experience the success other people experience.

Excellence can be learned and created, and this is exactly the concept being propagated by (NLP) neuro-linguistic programming. Modelling is one of its most successful proven strategies that help people achieve excellence in their endeavours. Modelling is a strategy that replicates the system of other successful people. The system you employ in your life determines the quality of your living, so if you wish to change and uplift you life’s quality then you also have to change your system, and what better way to do it than replicating the successful methods of successful personalities. Each person is believed to possess equal capabilities to meet the needed daily tasks. The different results are determined by the differences in their character that stimulate them to excel in their chose field of specialization. In a team of salespeople, you will indeed be able to identify those who give up so easily, those who are less enthusiastic of what they do, and those who make it to the top consistently.

The entire team’s performance could have been influenced favourably replicating the behavioural frame up of the top performers. The attitudes of the top performers are really making the difference. Their routine the whole time during the sales performance is their key to excellent results. The external factors may have contributed to the trend of the results but it was the internal factors that have the greater influence, such as:

The mindset of the sales people, their personal mental projection sometimes called internal representation
The level of emotion that they maintain the whole time, like whether they are optimistic or sceptical about the sales pitch
Their physical bearing
The strength of personal resolve and belief in what they do

Even if presently you cannot name a single individual of whom you want to pattern yourself after, for sure you have a number of incredibly great people in your life that you really look up to and want to replicate his behaviour and achievements. It’s not that hard really because in a lifetime, you are really bound to meet someone that will touch your senses and make you believe that you can be something greater than you already are now. You can even apply the virtue of modelling after yourself. To understand the concept of modelling, it might have been better to make an example out of your own experience. Let us try to look into your past and evaluate your past achievements and let’s try to replicate those moments:

What exactly was my state of being inthe course of the event?
What makes this event important?
What kind of emotion did it evoke in my part?
What body language did I exemplify?
What process did I go through in my planning of the event?
What is its significance in connection to my personal goals?

Write down your answers and carefully remember each of it. Recall the process you took for you to achieve excellence at that moment and then find a way for which you could tap to its richness every time a similar occasion happens.