Growth Genesis

What is the company image?

🌱 The company’s image must be consistent with the goals that the company wants to achieve. The company’s image, adjusted to the target audience, helps to solve the company’s problems.

📚 The company’s image is the opinion about the company, its services, and the product the consumer forms. The image is created without interaction with the company itself, based on advertising, media news, rumours, and prejudices.

🌱 The company’s image is made up of internal and external perceptions.

The internal image consists of the following: 👇

📈 First-person brand.

📈 An image of staff.

📈 Corporate culture.

The external image consists of: 👇

📉 Product reputation.

📉 Visual image.

📉 Consumer status.

📉 Sponsorship and charity.

📉 Attitude to competitors and partners.

🌱 Internal and external images must match each other. There are certain technologies for shaping the image. The ultimate goal of image formation is the psychological and emotional attraction of a person or a consumer to a product, brand, object, or situation.

The main factors for choosing a foreign jurisdiction

1️⃣ Tax and legal characteristics of the jurisdiction

📈 The choice of jurisdiction is carried out, among other things, depending on the taxation conditions.

📉 It is recommended to pay attention to the presence or absence of taxes in local legislation for a specific entity type, the number of tax rates, the availability of tax benefits, special tax regimes, and approaches to taxation of non-resident companies and tax-transparent structures.

2️⃣ Prestige of jurisdiction

📈 The prestige of a jurisdiction is an evaluative concept that consists of various components and can change over time. If reputation plays an important role, choosing countries that are not classic offshore is recommended.

3️⃣ Ability to work in modern conditions

📉 The most crucial question is: will your foreign company from this jurisdiction be able to work effectively in current and medium-term conditions?

📈 In other words, are the set goals achievable, considering all existing and future restrictions and risks associated with an offshore business?

4️⃣ Cost of registration and maintenance

📉 This factor is related to the financial capabilities of a particular client. The creation and further administration of a classic offshore company are not expensive. It includes payment of annual fees, legal address and services of a registered agent.

What is the purpose of a Tax ID Number?

📩 One of the first steps a business person must complete is obtaining an individual tax number before starting the legalisation procedure. TIN is provided by authorised bodies working in the fiscal system.

👉 As a rule, such a procedure takes only a couple of days. After receiving a TIN, the person in a business can begin to fulfil investment obligations: open bank accounts in leading European banks, transfer funds, make investments, and purchase real estate.

📲 Do everything that will ultimately lead to legalisation. Most often, the TIN plays such an essential role that it will not even be possible to purchase a SIM card for business. And this is not to mention that the investor will have to conclude a contract for the maintenance of the real estate and pay utility bills.

What tasks solve the organisational structure of the business

✨ The organisational structure aims to ensure the efficient flow of business processes and the distribution of responsibilities between different levels of management and employees. The organisational structure of an enterprise describes how decisions are made in the enterprise. And who is responsible for what functions.

Functions of the organisational structure:

👉 Giving an understanding of the direction in which the business is moving.

👉 Allocating business tasks to departments.

👉 Designating and fixing the procedure for making decisions.

👉 Determine the responsibility and competence of each unit in solving problems.

👉 Building relationships between employees.

✨ It or that organisational structure is formed at the stage of business creation. It exists in every company. As the business evolves, its headcount grows, and the management structure can and should change.

5 essential elements of business potential

The main components of business potential are what the business depends on the most. These five business elements carry a significant part of the business potential. Let’s take a look at them.

1. Business idea 👇

💥 A business idea is the primary source of a small business, and everything starts from there in every business. And, of course, its potential largely determines the business’s potential as a whole.

2. Product 👇

💥 The main thing here is not the quality of the product itself but what problem or need of the audience it solves.

3. Stocks 👇

💥 We know how stocks can negatively affect the performance of your business. But this does not mean that they should not be. In a sense, stocks are a guarantee of stable sales. So find a balance. It will affect the potential of the business as a whole.

4. Marketing 👇

💥 Marketing is the most important component of a business. And, if you can manage it competently, then the energy in your business will increase constantly.

5. Sales 👇

💥 In business, you need to sell, not wait for someone to buy something from you. Therefore, your sales team is a very important part of your business. Do not skimp on teaching him. The business potential will increase significantly, that’s for sure.

Business Development Methods

1. Diversification 👇

✨ You cannot invest in the production of monotonous products. The release of a wide range of goods or the provision of various services will allow you to stay afloat when the demand for a specific product or service falls.

2. Increase in volumes 👇

✨ Business expansion is impossible without increasing the product or service volume.

3. Using marketing strategies 👇

✨ It is necessary to use various methods of promoting goods and services. Business growth is possible only if you use a wide range of modern and advanced marketing strategies.

4. Capitalisation of income 👇

✨ Accumulating profits will create an airbag. These funds can always be used for a promising project that will be implemented without attracting borrowed funds.

5. Working with potential clients 👇

✨ Studying the needs and habits of potential customers allows you to understand their basic needs, which will keep the target audience interested.

6. The attraction of investments 👇

✨ It is practically impossible to implement a promising project or launch a new product line without attracting funds from investors.

7. Outsourcing 👇

✨ Delegating some authority to other organisations, such as Growth Genesis, will help save time for further development.

Tips for Choosing the Right Business Partner

Finding potential partners is the first step to forming a profitable partnership. Still, you need to look closely at your options before you decide to work with someone.

Try to stick to the following tips:

1. Define your skill set 👇

✨ You should choose a business partner whose skills and experience differ from yours.

2. Determine for yourself the values ​​that you adhere to 👇

✨ Of course, it would be best to choose a co-founder who agrees with you on the core beliefs and philosophy of the business.

3. Discuss your long-term vision 👇

✨ Find a business partner with the same goals for five and ten years so that you are ready to follow the same path to success.

4. Find an enthusiastic partner 👇

✨ In the early days of your business, you will face many challenges. They are much easier to deal with when your partner is as passionate about their business as you are.

Business life cycle: 5 stages of development

Any business, during its existence, goes through these stages of development:

1. Foundation stage 👇

✨ You are opening a business. It means that you have already assessed the idea's viability, considered all the risks, calculated what expenses await you at the start, and written a financial plan.

✨ At the foundation stage, you register a business, recruit a team, and look for your first clients. At this point, the project needs funding.

2. Zero-out stage 👇

✨ At this stage, you can return the money you spent to open a case.
The business has a minimum profit, and with its help, it is possible to maintain a turnover: there is enough money from selling goods to buy new batches.

✨ But the funds may not be enough for improvements that will allow you to make more profit: you cannot hire new employees or buy more goods. So the business still needs funding.

3. Growth stage 👇

✨ The business increases profits and the number of customers. It would help if you spent additional investments on improving the service and solving problems that hinder development.

4. Maturity stage 👇

✨ At this stage, the business ceases to grow intensively and becomes resistant to external circumstances. Problems in the economy should not be a death for the business. In this case, a financial airbag should allow you to survive the crisis and find a way out.

5. Stage of decline 👇

✨ Profits are falling, costs are rising, and customers are being lost. These are signs of decline. It is possible that even if you have new customers, the net profit still does not increase. But the decline stage does not necessarily herald the closure of the business. At this stage, the company can still be saved.

Components of a successful business plan

1. Development of the skeleton of the company 👇

💥 Developing the company's skeleton allows the company to earn five times more.

2. Effective management 👇

💥 Be clear about what you want and how you can achieve it. Take risks and be persistent in achieving results. Take responsibility for the development when there is no guarantee of success.

3. Marketing and sales are the main focus of the company 👇

💥 80% of your efforts should go to sales.

💥 What is your main competitive advantage?

💥 How to convey it to the client?

💥 In what segment do you work or plan to work?

💥 What media will best reach your potential buyers?

💥 Who are your target customers: Age, gender, place of residence, work, the field of activity, etc.

4. Clients 👇

💥 Of course, high customer care.

5. Don't Forget About Quality 👇

💥 High-quality goods and services.

💥 Just one product is enough to blow up the market.

💥 You need to find your own unique, specific line of business.

💥 Product quality is 90% of your business success.

Life hacks for creative entrepreneurs.

1. Customer survey 🏆

👉 Find out from regular customers what products or services they are missing. From the received answers, identify the most popular. And offer the updated item to both old and new customers.

2. Upsells 🏆

👉 Send your customers promotional offers of your products or services. This technique is often used in the marketing of information products. It can increase their loyalty and increase their income.

3. Pleasant benefits or bonuses to the client 🏆

👉 It can be something minimal but pleasant for the buyer.

4. Content attractiveness 🏆

👉 When you write about your product on social media, you should understand what kind of photos and texts attract the most interest from customers. What matters is the attractiveness of the picture and how catchy the text is. Good content will set you apart from your competitors.

Business is often compared to sports for a reason. You can be a good entrepreneur and get a good turnover, but then you will remain an «average athlete».

It is essential to have an irresistible desire to become a champion in business - five crucial components of a successful company: foundation, business model, team, resources and ex*****on.

1. The foundation of the Company is the reflection of the person 🥇

🏆 It, like its founder, must strive to maximise its potential. The foundation is a success; the main thing is to remove the limiting factor and gain self-confidence.

2. Business model 🥇

🏆 Small companies are vulnerable. When big ones come, they crush them. It is easier to build large companies than small ones because attracting resources to realise the intended goals is much easier.

3. Team 🥇

🏆 When you’re building a company, you don’t have to compromise and hire people that you don’t want in the first place. The Company becomes dependent on one person - which causes a decline. The risk of losing your business, credibility, and success makes many industry players keep all the power in one hand.

4. Resources 🥇

🏆 Forget the stereotype that you need a lot of money to start a business. Most companies, with a capitalisation of over a billion, were built with nothing. Clients and partners fund 98% of companies, and only 2% receive investments from venture funds.

5. Ex*****on 🥇

🏆 The difference between what is now and the dreams of the future is a breakthrough, rapid, decisive action and daily work. The most important thing is to have the crazy desire and energy to carry out the planned activities.

Success is built on basic things done well and brought to the maximum. Aspire to your maximum potential, set great goals and go beyond the usual to succeed.

Tips for creating a good pitch

1. First impression 🥊

🗣️ The first phase is the most important. Your further performance depends on it. Try to develop a few options and demonstrate them to someone. If people don't understand you, rewrite.

2. Help a friend 🥊

🗣️ Tell your pitch to your friends. After testing the speech, ask them to retell what they took away from the speech. What, from their point of view, is your project about, what is unique about it, and why is it worth investing money and effort in it?

3. Gestures and posture 🥊

🗣️ Non-verbal communication with the client is an essential part of your presentation. It shows uncertainty and doubt. Keep your posture straight. Do not shift from foot to foot. It is better to stand in one place and move only during the change of semantic pitch blocks.

4. Voice 🥊

🗣️ Speak to the listener so that he is interested in your next word. Try to put yourself in his place and decide for yourself what you would be interested in hearing. Speak quietly with each sentence, pause, and speak a little louder than usual. Try to avoid monotony. If you see the listener losing interest, try changing the intonation, and play on the contrast.

How to run a business

1. Understand the marketplace and define clear KPIs 👈

📌 You need concrete data on your ideal customers, the existing competition, expected growth and demand, market trends, and more. These insights are invaluable and help you make informed business decisions and goals.

2. Draft a business plan 👈

📌 In the digital age, this is easier than ever before. Changes can be made, saved, and shared automatically. A living document stored in the cloud and accessible to everyone allows consistency, collaboration, and evolution over time.

3. Set revenue and profitability goals 👈

📌 Determining your business costs, including sourcing, production, staff, capital, and more, determine how much money your business needs to bring in monthly, quarterly, and annual to succeed.

4. Create a human resources team 👈

📌 When companies invest in their training and onboarding processes, they’ll find their employees are more prepared to do great work and take on the challenges of the business.

5. Hire the right employees 👈

📌 Don’t just build any team - make a super team. As budget and demand allow, surround yourself with experts in things you are not. Ask for input and feedback from them. Involve them in decisions that will impact them, directly and indirectly, to foster more significant investment in your building and make better, more informed decisions together.

6. Offer benefits for staff 👈

Some benefits may include:

🔝 Unemployment taxes and insurance
🔝 Workers’ compensation
🔝 Health insurance
🔝 Retirement savings
🔝 Paid vacation and holidays
🔝 Disability insurance
🔝 Life insurance

7. Implement the right tools for your growth strategy 👈

💥 Zero in on the processes you want to use each tool for.

💥 See how each one of those tools can make that process easier or more efficient.

💥 Choose one that performs a particular task, even if it might be tempting to use an all-in-one tool.

💥 Compare the value the tool provides vs how much it will cost you.

💥 Ensure the tool is scalable - it grows with your business and can meet your business’s changing needs.

Ways to increase brand awareness

Before you start working with brand awareness, you need to determine the target audience and the ultimate goals of the marketing strategy. Study consumers and how they interact with the product and then choose ways to influence them permanently. Many promotion strategies include content creation, SEO, targeted and contextual advertising, etc. Most popular:

1. Direct marketing 👈

✨ Work with the audience through email, SMS, push notifications, and instant messengers. Inform customers about current promotions, offers, new products, and services.
Contests and sweepstakes - hold events online or offline; social networks and points of sale are suitable for this.

2. Loyalty programs 👈

✨ Give gifts and bonuses to regular customers. Share emotions that will be remembered more than any purchase.

3. Influencers 👈

✨ Involve bloggers, celebrities, and experts. Influence the audience through people who are interested in consumers.

4. Gamification and Interactive Content ​​Drive 👈

✨ It's about conversions through engagement and communication with your audience. Involve customers not only in the purchase but also in the legend of your brand.

We can help you to choose affordable methods to increase brand awareness that resonates with your target audience. Remember also you should warm up customers' interest by increasing competitiveness, the level of trust, and the quantity and quality of sales.

Checklist: what to do to make customers want to return

1. Improve your service 👈

🔝 Sometimes, people are ready to go to the other end of the city because that's precisely what they need. Customers look at more than just price.

2. Use loyalty programs 👈

🔝 Make it more profitable for the guest to return to you and not go to competitors. It will help with bonus programs, discount cards, discounts and gifts.

3. Remind yourself 👈

🔝 Share new products with emails, send promotions, and use other channels to stay in touch.

4 Effective negotiation techniques

1. Don’t show the need 👈

🥊 Imagine that you are sitting in a necessary negotiation, and you have to make a deal with company A. “Must” literally means you can’t walk away with a defeat. Know that at this point, you are already trapped. On the contrary, if an experienced negotiator feels your need, he will be able to negotiate for himself any conditions: a deferred payment, a huge discount, or anything else.

2. Be “out of order” 👈

🥊 So, you are in negotiations: a business suit, a straight back and a confident look. Give a brilliant presentation, showing all the benefits of the product. Suddenly you notice that the other negotiator is tense and does not show much interest in you. Camp’s terminology means that he feels “out of order” in front of you. Psychology works here: people subconsciously do not like it when someone is too perfect.

🥊 When you ask her from a tense interlocutor, be sure that the situation will immediately be discharged. The interlocutor will feel “okay”: after all, in front of him is an ordinary person for whom something can also go wrong. An interesting trick to defuse the situation is to take out a notebook to write down something important at the right moment, and suddenly... You do not have a pen.

3. Start Negotiations with “No” 👈

🥊 This advice of the same name with the book’s title does not need to be taken literally and immediately refused by everyone - ruin any negotiations at the very beginning. But you should not directly agree to the terms of the other side. Your “no” will push the person to the thought: “why didn’t he immediately accept my conditions?”. And give him the right to think about it and say “no” at any time.

4. Prepare for the Negotiation 👈

🥊 It is a commonplace advice, but it is the basis of all successful transactions. Just prepare in advance:

💥 Capture the pains of the client
💥 Make a quality presentation
💥 Study the company’s and its competitors’ business and determine who makes the decision

🥊 Success is almost guaranteed if you use this information in negotiations while not “talking too much”, then success is practically guaranteed.

How is the desire to own a brand born?

🧨 Trends are born in society. Designers pick up changing values and create clothes, objects, and images. People buy them because they show their group membership. At the same time, they often act subconsciously and cannot explain why they believe this particular product or use this image.

💥 To please people, you need to understand which groups and values ​​currently dominate society and will persist for at least the next five years. It is a large but adequate planning horizon.

Here's how changes in different areas affect what moods will be in fashion.

1. External factors 👈
2. Changing values 👈
3. Emergence of adherent groups 👈
4. The need to belong to a group 👈
5. Appearance of attributes 👈
6. Feeling comfortable with possessions 👈
7. Desire to own an attribute brand 👈

Remember this or save this post so you don't forget ✨

Have you ever thought about creating a brand based on social trends?

🧨 So it is best to do this based on social trends and is done according to the following logical chain:

1. Briefly describe the audience to which you want to target your product 👈

2. To study the attributes that this audience uses for self-expression and self-identification 👈

3. Group the audience according to the signs of matching attributes 👈

4. Select the audience segments that your product will target 👈

5. Clarify through audience research the external factors that led to the emergence of the attributes. You need to restore the causal relationship:

💥 Attributes
💥 Values
💥 External factors

6. Understand how you can describe the product at each level of the chain (attributes, values, external factors), thus obtaining the visual, semantic, and ideological levels of the brand 👈

7. Outline a brand development plan, in part - product adjustments and marketing communications 👈

8. Realise your plans, significantly increasing the demand for your products and making money on them 👈

Why do you need a case?

A case is a story about how you solved a problem: made repairs with a minimal budget, increased the flow of calls, and freed the client from paperwork. A case is an advertisement whose main goal is to show potential customers your expertise: what problems you work with and how you solve them.

Other goals could be:

1. Demonstrating the value of the service 💼

💥 If you show the customer the finished logo and quote a price of hundreds or thousands, he may doubt whether such a cost is justified. And if you describe the development stages, what they included, how many people worked and how, it will become easier to prove the fairness of the price.

2. Attracting customers with the same problems 💼

💥 Customers will see that you have already solved such problems. After all, it is more efficient to cooperate with those who already have experience. For example, if a client’s activity in social networks drops, he is looking for a specialist that knows how to identify the causes and correct the situation.

3. Building of trust 💼

💥 A high-quality business case inspires confidence in the reader because this is not an advertisement where details can be embellished. And not boring descriptions of services that do not confirm that the work will bring results.

In previous posts, we talked about what DeFi is. Today we will briefly analyse their advantages and disadvantages.

👇 DEFI ADVANTAGES:

🟢 Easy access to financial services.

🟢 The rules for implementing business operations are written in a smart contract.

🟢 Control over the ecosystem is evenly distributed among all network members.

🟢 Transactions are completed quickly and without a chain of intermediaries, which reduces commission costs.

🟢 The source code of applications is open for study.

🟢 Anyone can create an application and use it.

🟢 Unlike the traditional financial sector, there are no controllers and accounts that require complex forms to be filled out.

👇 DEFI DISADVANTAGES:

🔴 No financial organisation in any world jurisdiction is responsible for the actions of participants within the system.

🔴 High volatility, including interest rates.

🔴 Uncertainty of regulation: the authorities do not like the inability to control financial flows.

🔴 Lack of funds. Compared to loans in the traditional finance sector, the amounts that can be obtained under the appropriate security are relatively small.

🔴 Fraud. Fraudsters issue dummy tokens and lure investors with promises of extremely high returns. In 2021, cybercriminals stole over $10 billion in investments using decentralised finance technology.

🔴 Too much hype.

🔴 Poor performance when accumulating a large number of transactions.

E-Commerce Trends 2022 💥

What will be relevant in online commerce? How can a business stay afloat with e-commerce? It will be necessary to improve, create the most comfortable conditions for the consumer, solve his problems, and dispel doubts.

1. Automation and personalisation 🥊

📌 Artificial intelligence is already successfully replacing sales assistants: it tells about the product, gives recommendations, answers questions, and accepts payments. And he can also make a list of goods and offer recipes or ready-made solutions based on your consumer habits.

📌 This approach pushes almost 48% of customers to buy more. Statistics show that the number of chatbots is growing by 24.3% annually.

2. Augmented reality 🥊

📌 What is augmented reality in sales? It is an opportunity to virtually try on clothes, change the appearance of the world around you, and see the product in action.

According to the latest data:

- 68% of consumers expect brands to enable them to use AR.

- 74% believe they would buy more if they could interact with the product using AR.

Demand for online shopping will continue to grow. All e-commerce trends in 2022 are aimed at the convenience and ease of shopping. They do their best to dispel questions and doubts about the product. Buyer behaviour depends not only on the product's quality and need but also on the conditions of interaction with the seller.

How to Develop an Effective Trading Strategy 📈

📊 Assess Your Risk Tolerance

📌 A time-based risk tolerance assessment is a popular approach that helps determine your immediate and long-term strategies.

📌 If you have a longer investment horizon, you can tolerate a higher level of risk by looking for profitable trading opportunities during times of volatility.

📌 If you have a shorter investment horizon, your best bet is to use lower-risk asset classes. They will help diversify your portfolio while maintaining overall risk.

🔐 Choose the Right Trading Products

📌 If you are interested in trading options, futures, or other securities, understanding the value they can add to your portfolio is essential for developing a balanced trading strategy.

📌 Suppose you are an experienced trader and have already chosen a trading strategy. In that case, the right combination of options, futures, and other financial instruments can help you optimise your portfolio and increase your profitability.

📖 Use Technical Analysis

📌 Technical analysis helps identify new trading opportunities and evaluates the strength of market movements. Focusing on technical indicators such as on-balance volume, relative strength index, and the stochastic oscillator can help you generate buy and sell signals.

“The Decentralisation of Finance is really good for humanity and it’s ultimately a win for each and every one of us. Because now that we can circumvent banks, exchanges and brokerage companies by using smart contracts on the blockchain… every person, every family, and every business will experience more liberty, more freedom, more opportunities, more abundance, more power, and more wealth.”

Hendrith Vanlon Smith Jr

What form the DeFi ecosystem:

💥 STABLECOINS
👉 Cryptocurrencies whose value is pegged to the underlying asset.

🧨 FARMING
👉 Any action aimed at obtaining tokens for any activity, as a rule, is the provision of one's computing power to carry out blockchain calculations.

💥 ISSUE OF TOKENIZED SHARES
👉 It is an analog of traditional securities but with the advantages of the blockchain. There are also token baskets, which are the decentralised equivalent of ETFs.

🧨 DECENTRALISED EXCHANGE (DEX)
👉 They do not have an exchange operator and need registration, identity verification, and commissions. Instead, payments are handled by smart contracts. The platform does not access the funds and does not store its clients' assets. That is, there is an actual exchange without an intermediary.

💥 CRYPTOCURRENCY LOANS
👉 Some users provide their coins, while others take them. Decentralised platforms automatically enforce loan terms and distribute interest. To borrow money, you will need to provide the platform with collateral.

🧨 SYNTHETIC ASSETS
👉 It is the creation of derivative financial instruments on the blockchain. These include contracts that mimic the price behaviour of the underlying asset: stocks, bonds, options, futures, currencies, interest rates, etc.

💥 PREDICTION MARKETS
👉 Platforms that allow you to bet on the results of events, games, elections, etc.

Interesting Fact ☝️

👉 The DeFi boom occurred during the coronavirus pandemic. In 2020, the decentralised finance market grew steadily, adding several billion dollars every month. “The idea that anyone, anywhere in the world, can access a system where you can make transfers and choose your financial risks is compelling. Until now, this was inaccessible to many, ”Vitalik Buterin, the founder of the Ethereum cryptocurrency, said in 2020.