Blog - Nicholas Fainlight | Business Development Associate, Hartford, CT

Great Business Books to Read Following the Pandemic

On August 24, 2021

In Career, Education, Finance, Investing, Leadership, Nicholas Fainlight

Last year’s pandemic made running a business harder than it’s ever been. Even with government aid, business owners had no time to cope with their new way of living, causing over 100,000 small businesses to close for good. As the pandemic finally reaches its close, businesses are facing a promising future. This new future isn’t without its challenges, such as providing new strategies to help businesses succeed in the post-pandemic world. Below is a list of books designed to help business owners cope with new challenges after Covid.

Humor, Seriously: Why Humor Is a Secret Weapon in Business and Life (And how anyone can harness it. Even you.)

Everyone’s had a rough year with Covid and politics. Tensions are high, and what better way to combat that with a little bit of humor? This book explains why humor is important in the workplace and how business owners can apply it to their own company.

Lives of the Stoics: The Art of Living from Zeno to Marcus Aurelius

If anything the pandemic has taught everyone, it’s that they need to be tougher in this unpredictable world. Self-discipline is key to facing new challenges facing business owners, and this book gives a complete guide on the history and application of Stoicism.

Digital Body Language: How to Build Trust and Connection, No Matter the Distance

The pandemic has taught everyone a new way to do business, and that’s through the use of digital means. If someone wants to work remotely, that can happen. However, without that face-to-face value, building trust and communication is more difficult. This book teaches how to cope with not having employees around anymore to talk with, leading to a more successful business.

Remote Work Revolution: Succeeding from Anywhere

Remote work is still a staple after the pandemic. It opened a new way for employees to work for businesses, and it turns out that it’s very effective. Whether this trend will disappear with the pandemic or not, it’s still a good idea to learn the ropes of succeeding in a remote working environment.

No one knows exactly what the future is for businesses. So it’s best for business owners to equip themselves for anything. Whether it be another pandemic or if they want their business to go in a new direction, these books are here to help.

How Public Relations Still Plays a Role in Social Media

By Nicholas Fainlight

On July 27, 2021

In Career, Finance, Investing, Leadership, Nicholas Fainlight, Technology

Most organizations have a well-structured public relations policy that has proven to be a more direct and result-generating channel for communicating with their stakeholders and getting almost instant feedback.

Before the advent of online and social media acceptance and robust growth, the otherwise accepted description of public relations relied primarily on contact and traditional modes of relations. It has, however, drastically shifted, with a lot of focus being directed towards social media. In this context, social media refers to the mainstream platforms that allow for remote interactions with an almost instant feel regarding interaction.

The exponential growth of social media

Social media has onboarded close to 4 billion users through the various platforms available to them, providing the various organizations a deep and ever-expanding pool of potential clients. A growing number of organizations have mastered the art of intertwining public relations with social media through their various interfaces that include mainstream avenues Like Facebook, Twitter, and YouTube.

As of the end of the first quarter of 2021, internet accessibility was reported at 65 % of the world population, further compounding the overall penetration of social media. Organizations that have capitalized on their social media handles to drive their public relations policies are deemed to have a better reach and are better positioned to engage their current and potential stakeholders directly.

The case for public relations in social media

In general, public relations and social media have proven to be inseparable and to portend insurmountable synergy looking into the future. The necessity is of immense importance to the policymakers of organizations and businesses across the various levels. Under normal circumstances, the earlier the adoption, the stronger the foundation that the institutions can establish.

Why Recruiting Is Vital For Startups

By Nicholas Fainlight

On June 28, 2021

In Career, Leadership, Nicholas Fainlight, postgraduate

Although the recruitment process is a challenging and demanding task for startups, it helps them get the right people for the job. The success of the business is dependent on the initial team brought on board. They also define the company’s culture as it grows and develops over the years. Below are reasons why recruiting is vital for startups.

It Helps the Employer Understand the Employment Laws

Employment laws give the employer information about employment requirements to follow when recruiting. Ignorance of these laws introduces other risks in the business that may cause a closure. If one is not sure of recruitment laws, hiring a professional recruitment team can help employers understand the process.

The Right Team is Selected

Recruitment helps the employer select the right people for specific jobs. A startup may experience challenges due to budget limitations and the need to minimize the cost. A strong team will know how to deal with them and come up with an amicable solution—finding people with the same mindset for the company helps in establishing trust with the management that no matter what happens, the team is intact and focused.

Recruitment Acts as a Marketing Strategy

A startup can sell its brand to the public through recruitment. Taking this opportunity and publicizing job opportunities and their requirements to the people shows the organization’s transparency for people to build trust. In the end, the business grows as the brand is gaining popularity.

It Provides Consistency

The recruitment process in the early stages of a business paves the way for the following recruitment. The management should have a standardized recruitment process to ensure every individual work in the company is measurable. A consistent criterion removes biases, discrimination and reduces risks for security.

It Helps Organizations Write Accurate Job Descriptions

Recruitment helps the management clearly and accurately write the job description indicating the primary and the secondary duties, qualifications, and salary range. This information makes it easy to recruit employees that fulfill the job description.

Startup recruitment is a process to ensure the business has the right team to move to the next level and become competitive in the market. Although the process may be challenging and costly, it is worth it in the end. Take time and go through the highlighted reasons why recruitment is essential and search for more online.

A Few Reasons Why Some Startups Fail

By Nicholas Fainlight

On February 19, 2021

In Career, Finance, Investing, Leadership, Nicholas Fainlight

Every new startup faces risks of failure, but, as an entrepreneur, it’s up to you to minimize those risks as much as possible. One way you can do this is by taking the time to understand why startups do fail. In doing so, you can take steps to avoid those common pitfalls.

Failing to Fulfill a Need
While your product might be fascinating or utilize the latest technological advances, it will gather dust on shelves if it’s not fulfilling a need. Products that solve problems in new and more efficient ways are the ones that attract consumers. Your goal should be to convince consumers that they can’t live without your product.

Failing at Providing Good Customer Service
Another weakness of new entrepreneurs is failing to recognize the importance of providing good customer service. In today’s digital world, customer experiences are instantly shared and consumed online. This creates a force for developing brand reputations over which businesses seemingly have no control. In fact, your only control over your business’ reputation is in how you promote customer satisfaction.

Failing to Hire the Right People
You can’t be present for every interaction each consumer has with your business. Instead, your own employees will collectively become the face of your business. Employees that seem uninterested or rude will lead to customer dissatisfaction and fewer consumers will visit your business. Your goal should be to hire individuals with a passion for your products or for the field of interest your business operates within. Additionally, they should be knowledgeable about your industry and passionate about performing well in their jobs.

Failing to Generate Capital
From the moment you launch your business, you’ll have to create a cycle of growth and reinvestment. This requires generating enough capital on a continuous basis to provide you with surplus cash to invest back into your business. Whether the capital is used for marketing, enhancing the business, or meeting growing customer demands, you should continue to reinvest in your business. If you’re not generating the capital to meet these demands, your business will likely fail in a very short time.

While addressing these issues won’t guarantee success, your actions can increase your chances for success. In addition to avoiding these common mistakes, you must also dedicate yourself to succeeding. While talent will take you far, perseverance has the power to take you all of the way.

Tips to Launch Your Side Hustle

By Nicholas Fainlight

On February 6, 2021

In Career, Finance, Leadership, Nicholas Fainlight

It seems that every year, the marketplace becomes more amenable to side hustles. With the digital revolution democratizing many industries, you can make some money on the side without quitting your day job. This ability to pad your earnings without sacrificing your main source of income represents a truly irresistible opportunity. If you’re lucky, your side project could even become more lucrative than your current job, allowing you to focus on the new venture exclusively. You never know when an entrepreneurial venture could be the start of something truly special.

Launching a side hustle is an appealing option, but it certainly isn’t easy. Keep these tips in mind to maximize your chances of success.

Make Sure You Have A Profitable Idea

Before you actually start your business, you need to make sure your idea can actually make you money. Do some market research to see if the product or service you’ll offer is really in demand. Then, do a quick analysis to determine whether you’ll be able to consistently cover your expenses.

Identify Your Potential Customer Base

Once you’ve got your general idea in place, it’s time to determine who you customers will be. If you’re planning on running a food truck, determine what sorts of people would be most interested in your food. After you’ve developed a general buyer persona, you can build your marketing strategy accordingly.

Approach Potential Clients In A Professional Manner

When starting a business from scratch, you need to be aggressive about pursuing potential clients. If you hope to be a freelance writer, for example, you can’t simply wait for companies to reach out. You’re the unknown entity, so it’s up to you to initiate contact.

Don’t Fear Failure

Nothing paralyzes a new entrepreneur like the constant fear of failure. In order for your business to succeed, you’ll need to remain an optimist through thick and thin. Only by keeping your eyes on the prize will you overcome obstacles and resist the urge to quit.

Avoid Burnout

Starting a business is a lot of work, and it can be especially taxing when you’re working another job at the same time. Give yourself plenty of time to relax, and prioritize the maintenance of a proper work/life balance.

Overrated Business Tips to Forget

By Nicholas Fainlight

On January 28, 2021

In Career, Education, Finance, fitness, health, Investing, Leadership, Nicholas Fainlight, postgraduate, Technology, Uncategorized

Wherever you go, people provide unsolicited guidance on how to grow, run, or start a business. Out of the pointers they offer, some are valuable, and you must observe them. However, others are misinterpreted, outdated, or just plain wrong for the business you’re running. Here are some overrated business tips to forget.

1. Your Service or Product Must Be Unique

Businesspersons are often advised to outline what makes them stand out. However, it is not necessary to find an exclusive approach to achieve corporate success. A subtle change may improve the entire experience.

2. Customers Are Always Right

Do you need to make the customers happy? Yes. However, if your main goal is to please people, you may end up in a world of unnecessary suffering. It’s best to pay attention to the things that bring you a long-term profit, not the things that take your energy and time.

3. Do Not Start a Business With Your Friend

Many people think it’s a bad idea to start an enterprise with a friend, but that’s not true—friends whose expertise supplements each other may build a thriving business. Establishing a company may be straining to the relationship; however, the benefits of operating with a person you trust may be worth it.

4. Promote Your Business on Facebook

Companies have acknowledged that paid advertising is the only path to increase your Facebook image, which is still one of the world’s best social platforms. However, it is not always the top place to use up your advertising budget. There are other more effective means to reach your audience for a much lower price per lead, for instance, on platforms like Pinterest.

5. Concentrate on Your Site Instead of Building the Brand

It is important to have a brand that reverberates with ideal customers. However, investing all energy and time in the “perfect” site is not how to make it.

6. Never Reject an Opportunity

It is tempting to “do it all” and take all opportunities that cross your path at the beginning of your business. Saying “yes” to all opportunities in your corporate encounters will stifle your time and dilute your brand.

7. Gather as Much Cash as Possible

Each business needs cash to start and grow; however, not all businesses must seek that through financiers. While funding may help some companies grow significantly, other lifestyle corporations are at an advantage without it.
Finally, despite all the advice that entrepreneurs receive, they should filter what is right for their business.

How To Balance Profit And Purpose In Business

By Nicholas Fainlight

On January 28, 2021

In Career, Education, Finance, fitness, health, Investing, Leadership, Nicholas Fainlight, postgraduate, Technology, Uncategorized

Entrepreneurs need to build business empires while still staying committed to their purpose. A significant number of business people struggle to commit to their purpose while still keeping their enterprises profitable. Businesses need to demonstrate their contribution to humanity while still growing their profit margins. Here are ways businesses can balance profit and purpose.

Go Green

In the past few years, many businesses have shown their commitment to adopting more sustainable production methods. No matter the size, every organization can play a role in reducing its environmental footprint. Surprisingly, the current generation prefers to buy green products. Therefore, companies that will demonstrate high sustainability credentials will gain numerous customers who want to buy green.

For instance, manufacturers can reduce carbon emissions by sourcing closer to home. When raw materials are transported for short distances, it helps cut both transport costs and carbon emissions. Besides, leaders who have a passion for conserving the environment can shift to renewable energy sources.

Find an Inspiration

Walk away from your comfort zone and start doing something new that challenges you. Learn from these things and find inspiration in them

Leverage Technology

Technology is changing every aspect of life, including how consumers interact with brands and how they buy products and services. For example, online sales have doubled in the past five years. Additionally, organizations are using machines to understand customer needs better. This means that businesses must stay on top of the latest innovations to remain competitive in their respective industries.

Share Your Success

Entrepreneurship is a murky journey characterized by ups and downs. Therefore, successive entrepreneurs should consider sharing their experiences with novice business people. When you balance profit and purpose, your impact is significant and tangible, and more consumers will want to be associated with your business.

Understand Your Purpose

Purpose goes beyond providing high-quality goods and services to consumers. It also means that your business prioritizes the common good of the community. For example, some companies such as Unilever have already developed a unique living plan to track their progress of minimizing their environmental footprint. Business leaders should devote time to learn about societal impact and how to improve it.

To change business operations to meet new expectations requires exceptional and visionary leadership. In today’s versatile business world, leaders who will adopt agility will be in a better position to achieve long-term success.

Leaping Across A Professional Rut

By Nicholas Fainlight

On January 7, 2021

In Career, Nicholas Fainlight

Everybody has hit a rut from time to time. Any length of professional practice of any activity will result in hitting physical and mental walls. How do we break through those walls? How do we climb out of our ruts? As professionals, we must be capable and aware of recognizing ruts and how to respond to them.

One of the first ways of leaping across the struggles of daily performance is to mix up how you may do things. Mixing up your schedule, figuring out new ways of looking at the same issues, or even integrating new technology into the routine — these are all effective and efficient ways of getting through a tough spot.

Realize in the midst of our professional careers, we are not alone. There have been a multitude of others that have come before us who also have struggled with the same issues. Utilize their experience! Read up from experts who have suffered burnout, been stuck in ruts, and somehow figured their way out of them. Start by reaching out to friends, family, or colleagues, when comfortable, and try to see how they would approach the problem. Recognizing those who have gone before us, and those that go through it with us, is integral in breaking out of ruts.

An outline, game-plan, or goal sheet is another productive way of breaking old habits or worn patterns. It allows you to chart out big ideas and see the whole picture in a way that might have not been seen before. Try putting new ideas into your outlines and see how that changes things. You won’t be able to break out until you’re ready to break in new ideas and thoughts. Take an active effort in seeing things from a new perspective.

Recognize that life works on a spectrum. What you may consider “bad” other individuals consider “great” — it is all relative. Use that relativity as your jumping point across your rut. Start small, and do what you can do at that moment. Take small steps, and steps that you know will lead you to your end-goal, no matter how long it may take. Leaping takes a bit of faith, however, that’s exactly what getting out of a rut takes. A leap of faith.

6 Communication Skills of Influential Leaders

By Nicholas Fainlight

On January 7, 2021

In Career, Investing, Leadership, Nicholas Fainlight

Excellent communication skills and impeccable leadership go hand in hand. Influential leaders connect with their audience at an emotional level. Their words are full of encouragement and inspire people to unleash their full potential.

Here are the secrets of effective leaders.

1. Know Their Audience

You can only communicate effectively after identifying who you are speaking to. Influential leaders know their audience, which helps them to choose the most suitable communication style. Identifying their audience doesn’t mean telling them what they want to hear. It means they relay essential information that the audience ought to know.

2. They Have Mastered Body Language

Effective leaders can tell people’s reactions to their message through body language. They are experts in picking on cues such as body language and facial expression because they understand that this is the only feedback they will receive from their audience. Great leaders use feedback to tweak their communication style.

3. They Are Listeners

Great leaders devote time to listen to the grievances and concerns of their audience. They listen and come up with the best response to their queries or grievances.

4. They Are Clear

Being precise in your communication increases the chances of the audience understanding faster. Great leaders explain things in detail to eliminate room for assumptions.

Whenever great leaders are delegating duties or asking for help from someone else, they strive to provide actionable, simple, and clear instructions. It is imperative to prepare thoughts in advance to provide essential details. Additionally, deliver these instructions in a friendly, calm way.

5. They Are Optimistic and Respectful

Everyone expects leaders to be respectful, but that is not always the case. Focusing on respectful, transparent, and fair communication within a team is an effective strategy for cultivating loyalty and enhancing team performance.

Don’t be tempted to use your status over your team or use fear or coercion as motivators. Instead, be honest and humble even when dealing with your juniors. Desist from being an autocrat and instead be a cheerleader who inspires people to be creative and quick problem solvers.

6. They Don’t Blame Others

When things go south in an organization, effective leaders don’t blame their team. They admit their mistake right away and focus on rectifying it in the future. They are accountable for their words and actions and are always striving to be better versions of themselves.

4 Hard Truths About Business

By Nicholas Fainlight

On December 4, 2020

In Career, Finance, Investing, Nicholas Fainlight

In business, being honest is crucial to everyone’s success and prosperity. Having the truths laid out in front of you can be incredibly disheartening, but it can also provide you with excellent insights, preparation, and ideas for furthering your business yourself.

Being honest with each other is the first step to being honest with ourselves, and to that end here are some hard but powerful truths about starting a business.

Crazy is Good

Risk-taking is one of the most important things that entrepreneurs can do. Risk is something most people tend to avoid, but without a healthy risk there isn’t much to be gained.

What’s more, many entrepreneurs aim for ‘market disruption’ – flipping the table of industry standards in order to form a new standard. A new standard that they will be the leaders of. These are crazy things to pursue, but they are the foundation of good entrepreneurship.

Your Chances are Bad

Nearly every trust-fund baby with half a clue will be trying to do the exact same things that you will be doing. But these kinds of established or well-funded entrepreneurs likely have less risk because of their positions.

This makes your chances far worse – you won’t have as many chances at success as many others. And there are many, MANY other entrepreneurs out there.

Embrace Failure

Success will take time and effort, as well as a few attempts. The likelihood of achieving success with your first business idea, no matter how much of a golden goose it seems, is incredibly slim.

Embrace the experience of watching a business fail, and learn everything you can as you go through it. Learning from failure, embracing it, is the most important trait of successful entrepreneurs.

Money Only Means So Much

Hitting it rich shouldn’t be your only goal in business. Ironically, if you pursue other things while being an entrepreneur, you might be more successful than if money was your only drive.

Being driven, motivated, and dedicated to your business is absolutely critical, and you should focus on developing other motivations – whether it’s the business itself, the people it supports, or having something that allows you to exercise your brain.