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Contributing In The Boardroom

If you want to get the most from your board, you need to know how each person likes to make an individual contribution.

Carl Bates

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The value of a board is based on how the parts contribute to the whole. We use a profiling tool we developed called the Sirdar Contribution Compass, which highlights the specific profile of a director or executive based on their natural energy, gleaned through a robust questionnaire.

There are eight profiles, each with a specific means through which value and contribution can be most effectively maximised. We know that if we balance the natural energies well for a newly constituted board of directors, the company will accelerate its growth due to the quality, flow and value of the discussions around the boardroom table.

Below is a brief summary of the Contribution Compass profiles. Reflect on which profile most closely mirrors your greatest path to contribution. What are the profiles on your executive committee or board? How might you enhance the value contributed by those members by understanding their natural energy?

Related: How To Select A Highly Effective Board

Catalyst — Accelerating change

Catalysts are dynamic, stimulating, driven and inciting. They excel at getting something going with energy, and often start new businesses, lead a new project or take an existing project into its next big step.

They easily plug into the world of ideas and a vision of the future.

Champion — Blazing a trail

Champions shake up the status quo and stir up people to pay attention to their message. Using their personal credibility, Champions shine light on the cause they rally for and incite others to join them.

They excel at taking a proven idea and broadcasting its value to a wide audience, garnering support and enthusiasm.

Coach — Igniting greatness

Coaches ignite the fire and passion of others to work together as a team, focused on bringing a central idea to life. Coaches bring warmth, energy and inspiration, which lights up the path for others.

They excel at understanding people deeply and being tuned to their emotions and what their team really needs in order to overcome challenges.

Nelson-Mandela-Bridge

Connector — Building bridges

Connectors bring people, ideas and resources together. They can unite the right people at the right time and place, which is driven from an understanding of what people really need and the resources and opportunities available that may best serve those needs.

They excel in being able to talk through ideas, challenges and solutions to create a collective way forward.

Related: How to Maximise Returns for Your Shareholders

Custodian — Honouring the promise

Custodians nurture and support the ideas of others and bring them to life, while guarding and protecting the assets and resources under their care. Their gentle and supportive energy is grounded in their understanding of reality, resources, timing and practical considerations.

They excel in their ability to honour commitments and deadlines, while ensuring that the right activity delivers tangible results.

Cultivator — Nurturing growth

Cultivators guide and shape the growth of a team, project or enterprise through a subtle influence that seeks to adjust, refine and develop. They make incremental adjustments in their environment to achieve long-term, sustainable growth.

They excel at managing complex projects and deliverables, while ensuring that resources and risk are carefully managed.

Conductor — Optimising performance

Conductors use their focused and efficient energy to direct the singular instruments of the orchestra into a unified and optimised collective.

They excel at ensuring a process or function runs optimally and efficiently. With a natural affinity for analysis and data, a Conductor finds meaningful insights through information and the analysis thereof.

Calibrator — Fine-tuning instruments

Calibrators ensure that the instruments used to create value are continuously refined and adjusted where necessary.

Calibrators excel when they can tinker with how the system works and experiment with new approaches to old problems.

Carl Bates is a global entrepreneur, speaker, author, mentor and director. Currently based in South Africa, he is a dynamic entrepreneur from New Zealand who guides small to medium businesses to achieve Extreme Business Success.

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A World Of Opportunity Awaits With Peli Peli

Business ownership has always been the entrepreneur’s way of shaping their future. If you’ve always wanted to experience life in the US, this is your chance.

Peli Peli

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peli-peli-restaurant

Global media has been reporting that the chances of non-American citizens being granted access to move to the US are getting slimmer with the new administration. However, there is still one channel of access that allows people the opportunity to relocate that hasn’t been amended by the presidency.

The EB-5 Visa programme was created by Congress in 1990 to stimulate the US economy through job creation and capital investment by foreign investors. Under a programme initially enacted as a pilot in 1992, and regularly re-authorised since then, investors may also qualify for EB-5 classification by investing through regional centres designated by USCIS based on proposals for promoting economic growth.

The question most commonly asked by foreign investors is where to start selecting a relatively low-risk company to invest their money into. One such entity that has been granted designation under the EB-5 programme is the restaurant group Peli Peli.

Built-in success

Peli Peli is a South African cuisine restaurant that has gained incredible traction in the competitive American restaurant industry. They currently have six successful branches opened in the Texas area. Peli Peli Vintage park, which opened in 2009, generated revenue of $5,3 million in 2016.

Related: The Pros & Cons Of Owning A Restaurant Franchise

Peli Peli Galleria opened in 2015, and had $5,2 million revenue in 2016. Peli Peli Kitchen, their first fast casual concept, opened in October 2016 and reported revenue of $2 million in 2017. Peli Deli, a downtown fast food casual lunch concept and Peli Peli Cinco Ranch, which opened in February and July 2017, respectively, are both showing incredible growth to match their predecessors.

At least two more locations will be opening in 2018, and as all new Peli Peli locations have historically generated positive cash flow within the first year, the company expects to increase its revenue exponentially.

The power team behind the brand

The restaurant chain has garnered popularity, and won a multitude of awards, including Best Service & Best Atmosphere — Readers’ Choice Award (Houston Press) and 2013 Diners’ Choice Award winner for the Top 100 American Fare Restaurants in the United States (OpenTable). Peli Peli is also rated in the top ten in Houston, Texas (which boasts over 12 000 restaurants) on both Tripadvisor and Yelp.

The Peli Peli trio who own the business are Chef Paul Friedman, Thomas Nguyen and Aiki Tran. These three dynamic businessmen have their own share of accolades to speak of. Chef Paul, who is a born and bred Joburger, has been a contestant on Cutthroat Kitchen for multiple episodes on the Food Network. He won the People’s Choice Award and was placed third as a judge in the Gumbo Smackdown 2014. He received the 2013 Chef of Chef Awards in the 9th Annual Houston Wine and Food week, as well as being the 2013 Cadillac Culinary Master. He was also one of 60 Houston Chefs to be listed in the book Best Chefs America.

Thomas Nguyen, who is Chief of Marketing for Peli Peli, graduated from the University of Texas School of Law and was a former litigation attorney. He was the Houston Business Journal’s 40 under 40 award recipient in 2015 and an EY Entrepreneur of the Year Gulf Coast finalist in 2016 and 2017. He was Entrepreneur of the Year — Houston Asian Chamber of Commerce and is also a freelance writer for the Houston Press.

Peli Peli’s CEO, Aiki Tran, has over 12 years of experience in restaurant technology and won the 2007 Entrepreneur of the Year award — Houston Asian Chamber of Commerce. He was responsible for streamlining the technology infrastructure for franchises such as Popeyes and Wings, Pizza N Things. He also became the number one reseller of Aldelo and Dineware POS systems in Texas, with installations in over 200 restaurants.

Related: The Only How-To You’ll Need To Start A Restaurant

Joining their ranks is South African Ryan Stewart. Having owned 16 restaurants throughout the country, he is also the CEO and co-founder of the Mozambik restaurant chain. Ryan has 17 years’ experience in the industry and is being brought on board by Peli Peli to assist in their revenue and store location growth.

Your path to the US

With the combined talent, brainpower and experience of these four businessmen, it’s no wonder Peli Peli is achieving success. The investment required to qualify for an EB-5 Visa through Peli Peli is an amount of $500 000 and is structured as an equity investment at risk. It entitles the foreign investor to permanent residency, and within two years of living in the United States, a green card for the investor and his/her dependents.


For more information on how

You can be a part of the EB-5 Visa programme through Peli Peli.

Email: ryans@pelipeli.com

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Strategy

4 Ways To Find Your Own Business Style

The only way to develop a business style is step-by-step over time.

Timothy Sykes

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Finding a style in finance will define how you react to changes and how you approach new situations. It’s as important in business as it is in stock trading. Developing a business style and developing a stock trading system are extremely similar pursuits.

But I’m not going to pretend that it’s easy to do. It will take time and you do have to be willing to work at it.

Here are my four ways of finding your own business style.

1. Get rid of your expectations

You can’t force anything to work. It’s necessary for you to be flexible when it comes to finding a business style. Begin by letting go of any expectations you have before trying a new style.

Prior to attempting a new style, you have to be willing to go into it with no expectations. You never know what you’re going to find.

Related: 8 Steps to Building Your Business According to the Lifestyle You Want

2. Track your movements

Some things are going to work and some things aren’t going to work. I always tell my students in the Tim Sykes Millionaire Challenge that they should keep records of the things they’re doing. Keep these records as detailed as possible because attempting trial and error can quickly lead you in circles.

Don’t fall into the trap (as I did in the beginning) of trying the same thing multiple times because you never tracked the results.

I keep large spreadsheets with notes of the various styles and systems I’ve tried in business. Business mistakes can be costly, so you need to do everything you can to avoid making them.

3. Look at what others are doing

business-options

I refuse to believe that someone is doing something truly unique. The moment someone makes a breakthrough in business there are a hundred people replicating the same things. And that can be a powerful tool. Consider what others are doing and see whether you can learn something.

It’s why I also advocate finding a mentor to help you out. They’ll be able to help you out and you’ll benefit from their enhanced experiences in business.

Again, track what you’re taking from other people so you know whether something is working.

Related: I Started Saying ‘No’ To These 6 Things. My Life And My Business Got A Lot Better

4. Refine what you do

Rarely will anything in business work the first time. However, your first attempts will give you a good benchmark as to what you need to do next.

You should never be satisfied with what you have, even if it’s working. Always work on improving your business style. I believe this is the most important thing because it also teaches you how to adapt to changing conditions over time.

Last Word – Constantly Growing

There’s no step-by-step guide for how to develop a business style. The only way to do it is to obey the fundamentals and then develop everything over time.

Even though the process is long, you’re guaranteed to learn a lot of lessons and gain from a huge number of experiences over time.

This article was originally posted here on Entrepreneur.com.

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Strategy

6 Questions You Should Be Asking When Coaching

Top athletes have coaches because they’re winners. Business leaders should be the same.

Nadine Todd

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Dr Marshall Goldsmith

Whether you’re a CEO looking for a mentor, coaching your management team, or structuring a coaching programme for your managers to implement, there are six questions that can help anyone get better at anything.

The expert

Dr Marshall Goldsmith is a best-selling author and world-renowned business educator and coach. He has coached top CEOs, including Alan Mulally, former President and CEO of Ford Motor Company.

The key to a successful coaching programme is simple dialogue and establishing responsibility. The person being coached must understand and agree that success lies in their hands. They must take responsibility for their actions.

Related: How Business Coaching Can Help You Achieve Your Goals

The method

Once every few months, have a direct coaching session. Ask (or answer for yourself) these six questions:

  1. Where are we going?
  2. Where are you going?
  3. What are you doing well?
  4. Do you have suggestions for my improvement?
  5. How can I help you?
  6. So you have suggestions for me?

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