Entrepreneurship, Featured Stories

Learning from Elon Musk, 5 lessons on being a successful entrepreneur

After the creation of Paypal, famous entrepreneur Elon Musk set his sights on something higher. So high, it passed our…

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After the creation of Paypal, famous entrepreneur Elon Musk set his sights on something higher. So high, it passed our skies. The now founder of SpaceX, who owns the first privately owned working spacecraft to travel to the International space station, is a mysterious enigma.

Also Read  Leadership Lessons from Sundar Pichai, CEO of Google

One of two people to have ever founded three billion-dollar companies, Elon Musk has dedicated his life to revolutionizing how we travel, both on Earth and in Space.

Not only that, he has also become an inspirational role model to millions of people, even inspiring Robert Downy Jr’s depiction of Tony Stark’s Iron Man.

Musk continues to inspire us, and here some of the things we could learn from this self-starter.

 

1- Build solid foundation

Elon Musk is a big fan of fundamentals, and learning the basics as much as possible.

“It is important to view knowledge as sort of a semantic tree — make sure you understand the fundamental principles, i.e. the trunk and big branches, before you get into the leaves/details or there is nothing for them to hang on to.”

“[Physics is] a good framework for thinking … Boil things down to their fundamental truths and reason up from there.”

All of his quotes simply mean to improve your thinking and process by going to the roots, the basics of what you want to fix or do. Put aside what everyone else has said and done, and focus on objective data and clear observation.

 

2- Focus on impact, not money or probabilities

“Going from PayPal, I thought: ‘Well, what are some of the other problems that are likely to most affect the future of humanity?’ Not from the perspective, ‘What’s the best way to make money?’”

Musk focuses on helping revolutionize humans through his projects. Paypal, originally X.com, was created to help solve an issue, and when that succeeded, he turned his sights to bigger things.

All entrepreneurs can do this, by focusing on giving something to their customers and not only about profit. If you want to do something great, don’t do it for yourself.

 

3- Perseverance keeps you going

A classic tip from almost every entrepreneur but one that always stands true. Sometimes the hardest thing about being an entrepreneur is getting up from falling.

Elon Musk was severely bullied as child, lived off of loans from rich friends before throwing all he had into his Tesla project, and drank around 96 ounces of Diet Coke and some coffee to stay awake for his 100-hours work weeks to get his companies off the ground.

His advice for those afraid of not succeeding, “If something is important enough, even if the odds are against you, you should still do it.”

 

4- Hire people with talent and good heart

Hiring is an important element in any entrepreneurship, and Musk joins hundreds of people who have found out that talent can’t beat bad personalities in the working environment.

“My biggest mistake is probably weighing too much on someone’s talent and not someone’s personality. I think it matters whether someone has a good heart.”

 

5- Failure is not defeat; plan for it

Failure is a big part of growth, as a company and as a person, which is why it is a common saying to dust off failure whenever it happens. Musk on the other hand, wants you to plan for it.

When SpaceX was starting out, Elon Musk was quoted stating “If we don’t get the first SpaceX rocket launch to succeed by the time we’ve spent $100 million, we will stop the company. That will be enough for three attempted launches.”

 

When the first of his two space rockets failed, at 30$ million and 60$ million respectively, Musk was in a tight spot. His third rocket? Made it to space, the successful launch gave SpaceX a 1.6$ Billion contract from NASA.

Elon Musk was afraid of failure, but he didn’t wait for it to hit him to fall down and get better. He planned for it, then became better.

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Entrepreneurship, Featured Stories, Knowledge Base, Recommended Stories

When and how to start outsourcing your business?

There is a reason why freelancing and outsourcing is becoming a popular trend with many international companies. With a tough…

There is a reason why freelancing and outsourcing is becoming a popular trend with many international companies. With a tough local and international economy, companies have to do what it takes to maintain a steady profit, and find ways to reduce costs.

Outsourcing is becoming a big trend in many industries, due to its many advantages and low costs.

For small and big businesses alike, there comes a time when a decision must be made. Do you build a new team or primary service, buy certain tools or do you outsource for a short time?

That is another way that outsourcing can help.

 

So, when should you start considering to outsource?

Do you procrastinate when faced with a particular task?

Is it a one-time task? Is it a primary service that your business offers, or something for a specific client or project?

Is it a once a month task? Such as Legal duties, or financial accounting?

Are you still saving up for an expansion? Could you afford an expansion for this task?

Is it a non-essential function of your business?

If you’ve answered all by one of those as yes, then that is when you should be outsourcing.

A definition for outsourcing is “the strategic use of outside resources to perform activities traditionally handled by internal staff and resources.”

The reason is simple, because it can be advantageous most of the time.

Your business is saving money, effort, time and energy, making it more efficient on that tasks that truly matter.

 

Why should a business outsource?

So, you know when you should be looking into it, or maybe you’re interested.

The thought still lingers in your mind, it might be a good idea but why should I?

There are many things that you can consider that could make outsourcing a great opportunity for your business.

 

1. Employee costs and non-productive hours

Office space, cafeteria benefits, hospital visits, insurance, and lunch breaks are things that cost the company profit per full-time employee.

These are also things you can save on when outsourcing.

These make a full-time employee more than twice as expensive as a short offer for a freelancer.

 

2. Efficiency

Freelancers and outsourcing give you a special opportunity, an opportunity to capture and use talented people that you may not have been able to afford otherwise.

Talented graphic designers, high-end lawyers, highly-organized accountants, and smart assistants can be found as freelancers, and at a lower-price than full-timers.

They tend to be more efficient as they have stricter deadlines than full-timers, and may be able to do the job better than you or any other current employee.

 

3. Frees up internal resources

Getting freelancers doesn’t only work as a way to do unrelated or menial tasks, they also function as a way to lift weight off of your shoulders.

Using a content marketing freelancer to prepare content calendars, or receiving content from freelance content creators, can help free up internal resources.

Freeing you and your employees up for other important tasks, tasks that they can handle more efficiently with less of a work load.

 

What are you waiting for?

As you can see, outsourcing could be a very beneficial strategy for you and your business.

It does come with its own issues, such as communication and delivery of work, but if you plan it right, it will help you and your business thrive.

So, what are you waiting for?

Have another reason why outsourcing won’t be a part of your business strategy? Let us know in the comments below.

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Egypt, Featured Stories

#Lovely Campaign: 70 years of Egyptian cinema, music, and Pepsi

For over 70 years, Egyptian cinema has been the Hollywood of the Middle East. For decades, Egyptian music has been…

For over 70 years, Egyptian cinema has been the Hollywood of the Middle East. For decades, Egyptian music has been blasted through countless streets, and concerts filled to the brim.

For over 70 years, Pepsi was there to see it all. That is the premise of Pepsi’s newest ad, Lovely.

Pepsi’s newest campaign aims to remind us of its long-lasting presence in the local scene, and how it has constantly evolved to fit with the times and style of each time period.

 

The ad brilliantly moves through the decades, showing off the fashion, film styles and Egyptian music development timeline for the last 70 years.

Moving from classical black and white to Amr Diab-like in the 2000s, to today’s popular festival music videos and dancing styles. Listen to the musical stylings of the mid-1900s, to the 70s bright flower power era to today’s electronically mixed music.

And listen to the different lyrical stylings of each decade.

 

Inspiration

Taking its main music notes and lyrics from the classic Nos Sa’a Zawag (نصف ساعه زواج) 1969, by Samir Sabry and Shadia.

The song, and movie, has been an important classic in Egypt’s cinematic history, with many Egyptians still remembering the well-known movie. Many of us, young and old, still remember the song as well.

This Egyptian musical classic lends its nostalgia and familiar notes to Pepsi, who has tweaked each time period’s music and lyrics according to the appropriate popular music style.

 

Some eagle-eyed viewers may notice the subtle joke Pepsi makes, in which a larger woman attempts to wrestle the attention of the secondary male, a scene stealer in the original movie scene.

 

Continuation

Pepsi seems to be preparing a series of videos to compliment the campaign, each showing a specific era’s lifestyle and Pepsi can design.

So far, the soft drink manufacturer has only released its first video, focusing on the mid-1900s.

Although Pepsi has used Nostalgia as a long-running strategy over the many decades its been in the industry, it continues to defy over usage of the theme and keep engaging audiences.

What do you think of Pepi’s newest campaign?

Is it a hit or miss?

Let us know in the comments below.

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CAMPAIGNS, Featured Stories

Mo’ Salah 2018 campaign should be pretty much as Vodafone brand as it gets

Born in the Egyptian city of Basyoun, 100km or so north of Cairo, Mohamed Salah’s footballing journey began in the…

Born in the Egyptian city of Basyoun, 100km or so north of Cairo, Mohamed Salah’s footballing journey began in the Nasr City district of the Egyptian capital playing for El Mokawloon SC during 2009-2010 season.

Today, Egypt winger Mohamed Salah with no doubt is the phoenix for his generation of Pharaohs. Mohamed Salah caught the attention of the football world for his speed and earned the world’s respect after his muted celebration after scoring a goal against Chelsea.

Since his historic penalty against Congo and qualifying Egypt to 2018 World Cup “with Salah’s help, of course”, the 25-year-old’s star is on the rise and this is the reason why he has been hailed as the ‘Egyptian Messi’.

Also Read ► Road to Russia 2018: The most prepared brands for the historical moment

Mohamed Salah is now branded as a successful young Egyptian who can be a role model to inspire Egyptians especially younger people and give an example to be emulated in behavior, commitment, and strive for success.

Salah, who has also been nominated for the CAF African Footballer of the Year award, is currently the Premier League’s top scorer after scoring 20 goals in 25 matches since signing for the Reds this summer.

Also Read ►Pepsi features Mohamed Salah in Advert about Ambition and Success

With statistics, Mohamed Salah is considered the most expensive Egyptian, Arab and, African player in the football history after moving to Liverpool last summer for 42M euros.

 

Why Mohamed Salah’s success is a triumph for Vodafone’s Branding Campaign

Vodafone Egypt today announced Mohamed Salah to be Vodafone Egypt’s newest brand ambassador. Accordingly, Mohamed Salah will lead Vodafone’s advertising campaigns for 2018 under the slogan “The future is exciting. Ready?”

In line with Vodafone’s new vision of optimism, Mohamed Salah up coming campaigns for Vodafone Egypt should achieve the brand aspirations and dreams for a better future and reflect Vodafone’s trust and hope for young people.

اللي جاي أقوى 💪

Posted by Vodafone Egypt on Wednesday, December 20, 2017

 

One of the toughest aspects of building a successful brand is building an emotional connection with consumers and Mohammed Salah was chosen by Vodafone Egypt as an example to achieve ambitions and to work towards a stronger and better future.

Also Read ► Vodafone Launches New Visual Brand Identity

Brand intimacy is the new paradigm in marketing and consumers connects more with brands when they seems to care about people like themselves and is making a positive difference in the world.

Mohamed Salah reflects Vodafone’s new brand identity and he is really an inspiring example of how to leverage your personal capabilities to get into the career you want and push-up your challenges from local to international standards.

Vodafone Egypt just clinched the best player in Africa from rival competitor Etisalat Misr

Back in Jun 2016, Mohamed Salah was featured in Etisalat Misr “Imagine Tomorrow” campaign. Today, by naming Mohamed Salah as Vodafone Egypt’s brand ambassador, its considered another victory for Vodafone to complete a winning deal with Salah who has been crowned BBC African Footballer of the Year following an exceptional year with AS Roma, Liverpool and the Egyptian national team.

Worth mentioning that Pepsi has chosen Egyptian professional footballer, Mohamed Salah as the new brand ambassador for Pepsi-Cola in the Middle East and North Africa (MENA) region in 2016.

Recommended Read ► Pepsi and Coke become “Frenemies” to support The Egyptian National Team

We wonder if  Salah would consider Coca-Cola campaign for World Cup 2018. Specially that Coca-Cola is one of the longest-standing corporate partners of FIFA, with a formal association since 1974 and an official sponsorship of FIFA World Cup™ that began in 1978.

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Featured Stories, News

Ahmed Abou Hashima totally abandoned his media empire for Eagle Capital

The media of Egypt is highly influential in Egypt and in the Arab World. Recent developments in the media sector in…

The media of Egypt is highly influential in Egypt and in the Arab World. Recent developments in the media sector in Egypt indicate a trend of augmentation through cost-cutting mergers and acquisitions of main satellite TV networks and affiliates of newspapers and websites.

Egyptian Media Group was founded with an aim to develop the media sector in Egypt and provide the quality and expertise required to regain Egypt’s leadership in the region.

Empowered by the Egyptian business tycoon Ahmed Abou Hashima, Egyptian Media Group was developed to deliver the most advanced technologies by creative Egyptian minds, including the most professional and successful executives in the Egyptian media scene.

Abou Hashima started off Egyptian Media group by acquiring 100% of ONTV channel from businessman Naguib Sawiris, 51% of “Presentation Sports” for sports marketing and media, and 50% of Misr Cinema for movie and TV production.

In November 2016, Egyptian Media Group announced the signing of a partnership agreement to buy 50% shares of Synergy, aiming to strengthen its business in the field of art production, especially drama and advertising.

Today, Egyptian Media is one of the fastest growing media groups in Middle East and North Africa. Egyptian Media already holds a variety of the best TV Channels in Egypt and the Middle East, plus it owns and operates a grand set of the most widespread news websites in Egypt includes but not limited to Youm7DotMsr and Egypt Today.

 

Egyptian Media Group Subsidiaries:

ON Network:
OnEnt, ONsport, ONtvLIVE and On drama.

Film Production:
Synergy – تامر مرسي, EM | Production and Misr cinema.

Radio Management:
Nagham FM نغم اف ام, Radio Hits 88.2, Mega FM 92.7 and 95 FM.

Print Media:
Youm7, Eain, Sout Al Omma, DotMsr, Business Today Egypt and Egypt Today Magazine.

Marketing & Advertising:
Presentation Sports, Synergy Advertising, POD Egypt, iFly Egypt, Egyptian outdoor, Spade and Hashtag.

Training & Development:
Egyptian Media Group collaborates with London Film Academy (LFA).

 

Eagle Capital acquire 100% of Abou Hashima shares

According to news reports, Abou Hashima decided to totally abandon his shares in Egyptian Media Group for Eagle Capital, led by Dalia Khorshid (Egyptian ex-Minister of Investment).

As a result of the acquisition, Osama Al-Sheikh has been assigned as Chairman of the Board of Directors for the Egyptian Media, and as Managing Director to replace Ahmed Abu Hashima.

The full details about the acquisition deal is not available at the moment and should be announced during a press conference to be held next Thursday.

Worth mentioning is that Egyptian Media was planned to be registered on the stock market as a holding company in the first quarter of 2018 to raise up to 1 billion Egyptian pounds after the planned initial public offering (IPO).

 

Dalia Khorshid, CEO of Eagle Capital

In early 2016, Dalia Khorshid succeeded Ashraf Salman as Minister of Investment, becoming the first woman in Egypt to occupy the elite position.

Ms. Khorshid holds a Bachelor of Arts degree in Business Administration from the American University in Cairo. She also serves as Group Corporate Treasurer for Orascom Construction Industries (OCI) N.V.

Prior to joining OCI, she was with Citibank for 8 years, where she served as a Vice President.

She began her banking career with Commercial International Bank, Egypt’s largest private sector bank. She spent eight years at Citibank as vice president for Corporate Finance and Investment banking for the Middle East.

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