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A Prescription to Start A Startup Episode No. 1; Startups VS Small Businesses

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Written By: Dina Marei

We live in the age of the Entrepreneurship, surrounded by some tremendously innovative, fast growing, and game changing startups.

 This series of articles is to help you to understand lots of entrepreneurship concepts and perspectives and guide entrepreneurs to develop their entrepreneurial mindset and find their place and live their revolutionary dream.

You may be familiar with “startups and entrepreneurship” words, and you have probably known some entrepreneurs who have launched and grown their startups, but have you ever taken a step back and asked yourself what a startup actually is?

“Startups” Is it just a vogue word for a fast developing company? Or maybe there is a real difference between what a startup is and how small business is identified?

Is there a real and important distinction between what constitutes a startup, and what qualifies a small business?

For years, investors treated startups as smaller versions of large companies; this was problematic because there is a vast ideological and organizational differences, which necessitates different funding strategies and KPIs.

Let us see some differences between Startups and Small Business:

Growth and Scope:

Small business makes progress within limits established by a business owner himself/herself. He/She put limitations on the growth of the company and focus on service of a certain circle of clients.

A startup
, as a rule, does not put any limitations on its growth and focused on winning over as much market share as possible. The founder is ready to increase influence until he/she become a leader in the industry.

Gaining Profits:

Small business is focused on getting earnings and profit from the very first day.

A Startup is focused on creating a product, which customers will like and will take on a market. If this target will be achieved, profit of the company will be huge even it take months or even years.

Funding methods:

Both a startup and a small business will likely start with funding from the founder’s savings, friends and family savings, or a bank loan.

Small business typically turn to dept financing through small business loans to meet its funding goals. Banks offer amounts of capital, and charge interest for the funding.

A Startup is always seeking to receive additional funds from angel investors, venture capitalist, and with an initial public offering (IPO). With each extra funds, the startup founder gives up a part and shares of his/her company in terms of equity and who has it becomes a co. Owner and of the startup.

Sustainability and Life time:

Small business: 20% of small businesses are shut down in the first three years.

A Startup: 92% of startups are shut down during the first three years.

Exit strategy and End vision:

Small business keeping it and turning it to a family business or selling it.

A Startup moving toward new stage through large deals of merger, acquisition, or selling out to a larger company or IPO – Initial public offering.

Finally; it is very important to understand the differences between startups and small businesses and to realize what suits you best and to understand the possibilities and to take the best decision and start your business plan to achieve your desired goals.

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Wellbeing @ Work Summit Middle East 2021 – where balance, resilience and authenticity break the Mental Health Stigma

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Written by: Cinzia Nitti

Globally, 2020 has been a year like no other. Coronavirus pandemic caused a massive business disruption; transformation has been key in supporting employees and catalyzing workplace changes. There was a rush to adapt and reinvent Business Models. Organizations had to rethink and reconsider how they deliver services and strengthen their Organizations through a forward-thinking Digital strategy. To be more agile and responsive in such uncertain times, we need to respond to challenges and adapt quickly to new scenarios by moving from rigid hierarchies to leaner and more flexible structures.

But what about Mental Health at Work, and why is it essential?

What’s the Office of the Future?

Within the Wellbeing @ Work Summit Middle East 2021, HR Leaders tried to normalize the conversation about Mental Health by putting the topic first, enabling self-care and professional support, raising awareness, and building knowledge around its related issues. Nowadays, personal and work life are more intertwined than ever, so it becomes vital to create balance: the more employees feel free to talk about Mental Health, the more they can prevent struggle and breakout at the Workplace. HR leaders play a crucial role in making an IMPACT by pushing new solutions, promoting work-life balance, redesign workloads, and supporting their Teams.

In this general frame, Irada Aghamaliyeva (MENA Diversity, Inclusiveness & Wellbeing Leader at EY) affirmed: “Workplaces that are inclusive foster enhanced employee wellbeing; employees with high levels of wellbeing are more inclusive”. How can Organizations increase employees’ resilience and embed sustainable Leadership behaviors in the post-covid reality?

Dr. Irada Aghamaliyeva introduced the Mindfulness practice in the Workplace and highlighted its benefits on a large scale: improved wellbeing and resilience on a physical level; positive emotions, self-regulation, empathy and awareness of social dynamics; learning and innovation thanks to the implementation of flexible thinking, intuition and problem-solving processes. So breaking the stigma is possible, starting from personal wellbeing to sustain positive energy and fuel resilience.

About the Power of Empathetic and Authentic Leadership, Dr. Rima Ghose Chowdhury (EVP & Chief Human Resources Officers at Datamatics Global Services) stresses the importance of Leadership roles today. The virtual environment employees are working in, makes them more vulnerable due to a lack of balance between emotional and authenticity traits. Authenticity is the primary factor in effective leadership, regardless of the leadership style. Putting employees first as a strategic priority and hearing their voices to guide strategy; embracing agility to work more effectively in tumultuous time; including a multigenerational work-force: these are the key concepts within Dr. Rima’s motto “Empowering is to enable”. Through motivation and filling emotional support needs, the Empowering Teams Process leads to employees’ safety, esteem, and self-actualization. 

The Wellbeing @ Work Summit delivers strategic direction, advice and inspiration from employers and experts from across the world to help you create a more compassionate corporate culture that delivers results. To know more about the FOW Future of Work Insights platform around the world, click here: https://fowinsights.com/

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The Wellbeing @ Work virtual Summit Middle East returns for its 5th annual event on 22-24 February 2021

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The summit provides an innovative and experiential virtual learning opportunity for our audience of CEOs, benefit and reward business leaders and senior HR professionals. The information and knowledge gained from attending this event allow the opportunity to make strategic wellbeing and mental health decisions within an organization, supporting our mission to create more flourishing and thriving workplaces. Never before has the mental health and wellbeing of your employees been so important. The Wellbeing @ Work Summit includes keynote speeches, panel discussions, workshops, and fireside chats alongside unrivaled networking with leaders across the Middle East using our AI-enabled matchmaking platform. This is far more than a webinar! An engaging 3-day event providing you invaluable insight and tools to create thriving workplaces.

Key Reasons to Attend:

  • An engaging AI-enabled matchmaking platform to make invaluable connections & host virtual meetings up to 2 weeks before the three-day festival
  • Learn how multinational organizations are creating workplaces where employees thrive in the new world
  • Campfire panel discussions informing workplace change & mental health solutions
  • Middle East-based employer case studies providing the secrets to employee wellbeing success
  • International experts bringing best-practice from across the globe
  • Invaluable networking with business leaders from across the Middle East

The Wellbeing @ Work Summit delivers strategic direction, advice and inspiration from employers and experts from across the world to help you create a more compassionate corporate culture that delivers results. The design and implementation of a holistic wellbeing and mental health programme that delivers healthy outcomes and a more productive organization is paramount right now. 

In addition, the results of the extensive Middle East region-wide survey on wellbeing and mental fitness in organizations across the region made in partnership with Cognomie will be presented during the event.

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DECODING FUTURE HR: Global 24 hour virtual event | 19 and 20 January 2021

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DECODING FUTURE HR: Today’s challenges are tomorrow’s trends and opportunities

Global 24 hour virtual event | 19 and 20 January 2021

www.decodinghrevent.com

The world in 2020 has changed to a ‘new normality’ but what’s that ‘new normality’ everybody talks about? Is it here to stay? How is it affecting us in our daily lives in the different versions of ourselves? As a customer, an entrepreneur, a parent, a friend…a worker…

Our job is a key part of our lives and we are indeed living through a fundamental transformation in the way we work. Automation and ‘thinking machines’ are replacing human tasks and jobs, and changing the skills that organisations are looking for in their people. These momentous changes raise huge organisational, talent and other HR challenges. It has become clear that few organisations are likely to revert to pre-pandemic practices even after a vaccine is found.

Decoding Future HR 2021 is bringing you the ideology of how today’s challenges are becoming tomorrow’s trends and opportunities resulting in HR excellence.

Why you should attend:

  • Learn about the trends and best practices shaping future HR
  • Get valuable insights from expert speakers
  • Share ideas and research to help your organisation reach its goals
  • Understand what do employees want in ‘New Normal’
  • Develop new vision for HRBP and Centre of Expertise
  • Identify, integrate and understand stakeholders to create an intentional employee experience
  • Approaches and elements to leadership development.

Some of our confirmed speakers:

  • Tshepo Yvonne Mosadi , Human Resources Director, The HEINEKEN Company
  • Sarah Tabet, Global HR Director/ D&I Leader | Author for “Inclusion Starts with U”, Schneider Electric
  • Wadah Al Turki, Country Talent Manager KSA and Bahrain, IKEA
  • Lesha Chakraborti, Head of HR – EMEA, Travelex
  • Shaban Butt, Director HR & Administration, The Coca-Cola Company
  • Sajjad Parmar, Head of Rewards – APAC, eBay
  • Katey Howard, VP, Talent Management AMESA, Pepsico
  • Chen Fong Tuan, HR & General Affairs Director, Samsung Electronics
  • Prerna Ajmera, Senior Director, HR Experiences and Solutions, Microsoft
  • Václav Koranda, Vice President Human Resources / Member of the Board of Directors, T-System
  • Amy MacGregor, VP Employee Experience, Global HR, Manulife
  • Adwait Kashalkar, People Analytics and Programme Management Leader, APAC, Mastercard

Click here to view all speakers: www.decodinghrevent.com/speakers

At Wisdom we remain positive that ‘normality’ will soon return and that we will be able to physically meet together once again as speakers, delegates and sponsors at our beautiful venues around the world. But meanwhile, life continues and we need to keep in touch and learn from each other. This 24-hour virtual event will be of great benefit and value to your businesses and its continued development during these challenging times. While this virtual event comes at a lesser cost, it provides for now a wider reach into an international audience, with flexibility of access to content as well as allowing you to have the same opportunity as at a face-to-face session for one-to-one business meetings. We look forward to welcoming you in January.

Date and time: 19-20 January 2021Where: Virtual engaging platform
  Further information and bookings: www.decodinghrevent.com        Contact:
marketing@wisdom.events   #WSDM_BI
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