Monthly Archives: November 2015

What Neuroscience Can And Cannot Do For Your Business

ewOne ‘camp’ says that neuroscience is the next great thing for business and can be applied to everything from marketing to training; and another camp warns that we should be wary of applying it because much of the science is, in fact, pseudoscience.

Business leaders could be forgiven for feeling a little confused. Who’s right?

Let’s take a look at what neuroscience CAN and CANNOT do for your business.

Limitations of neuroscience

Before we look at where neuroscience may be applied meaningfully to business, it’s important to consider the limitations.

Firstly, while the brain and nervous system has been studied for centuries, it’s only in the past decade or so that imaging techniques (functional MRI or fMRI) have become widely enough available to consistently image the brain. This has, in many cases, replaced observational neuroscience, and the use of surveys for gathering information.

It’s worth remembering that the main impetus behind the growth of neuroscience has been to better treat illnesses and to understand the workings of the brain for clinical purposes – not to help motivate staff, improve business strategy, or to sell more products.

The science should be considered to be still in its infancy – and even the most positive of neuroscientists would tell you that we only know a fraction of what there is to know about the workings of the brain.

Neuroscience may be limited by the high costs involved in running studies, as well as the quality of the set up and purpose of the studies themselves. But there is another limitation in the interpretation of the data from the studies.

Few of us are trained in neuroscience, so business leaders are reliant upon those with enough grasp of the science to ‘translate’ it into a business context. Are the conclusions realistic or are they being ‘stretched’? It is easy for information to be manipulated, lost in translation, or simply misinterpreted by the receiving party.

For these reasons, a healthy wariness of neuroscience in a business context is advisable.

So where can neuroscience help?

The temptation for organizations is that, because clinical studies provide hard, objective data to back up the conclusions, these conclusions are new ‘truths’ that can confirm or deny past business approaches, suggest new strategies, and be applied universally.

As already stated, neuroscience is in its infancy, and studies just ten years old are often superseded by new findings.

Neuroscience, however, can be very useful in the hands of entities that understand the science AND appreciate its limitations. They are often is able to draw reasonable conclusions about the nature of human behaviour and may be able to ‘bridge’ the considerable gap between the science and its application in the real world.

For instance, working with leadership to improve teamwork, meetings, and workplace culture all comes down to one key factor: addressing what motivates people’s behaviour. Neuroscience has helped identify some common needs that people require in differing amounts in group situations. Understanding these, and applying methods to ensure that these needs are met, has been shown to produce real, tangible team results: a good example of neuroscience helping in the workplace.

Neuroscience also has plenty to say about the decision-making process. Daily life essentially consists of a long series of decisions, so we can see why this would be of interest. In a business context, leaders can learn to make better decisions if they are more aware of the typical processes that their brains go through before arriving at a decision; and, of course, businesses are always interested in customer buying decisions and how they can influence it.

The best advice is to be careful who you deal with. Check the credentials of the organisations you work with, make sure they are ethical, and ensure they can bridge that gap between the neuroscience and its application.

Why Would You Need Hospital Valuation

dIf you run or own a hospital, you have to go through a lot of different things in order to make sure that you can actually get things done and taken care of. Because of that, there are a lot of various things that you are going to take care of on the daily. What are you supposed to do then? Is there really anything that you can try to do or to take care of?

Actually, one of the most important things that you will need to deal with is hospital valuation. What is hospital valuation and why is it something that needs to be taken care of on a regular basis? What do you need to do in order to make sure that your hospital valuation is up instead of down? That’s a good question, let’s take a look.

What is hospital valuation?

One of the biggest questions that people ask is what this is in the first place? What does it even mean? In short, you’re talking about everything that comes along with the value of the hospital. How much is it worth? What does that look like for you? Does it mean that you will be able to continue to thrive in your community, or are you going to have to make changes in order to make sure that you can actually go ahead and achieve the goals that you want to achieve for your community and your employees? That’s what will get looked at.

What is Included?

The facility’s condition. How does the facility look? Is it in the best condition that it can be in? Does it look like somewhere that can be trusted? And is it something that is actually going to help the community instead of making it harder for people to go ahead and get the health care that they need?

Market share. How much of the market share are you going to have access to? Do you have a lot of income from the market or is the income coming from elsewhere? If you’re a privately traded company, are you trading well and does it look like you will continue to do so as time goes on? These are the sorts of questions that you need to answer and that you are going to work toward when you see it.

Income. How much are you making and where is that money coming from? Is it consistent? Are you staying afloat or are you starting to see that it’s going to be a little bit of a struggle when it comes time for you to actually go ahead and get what you need in the world of income?

Contracting. Do you contract out at all? How do you do it? How do you pay them?

How Can You Get it Checked?

There are a lot of ways that you can go ahead and get it checked, but you want to go through an agency that is actually going to give you the resources that you need in order to feel confident about everything that you’re doing. Not only that, but you also want to make sure that they know about the industry and will do all that they can so that you don’t have to worry about any other issues that may come up. They can talk to you about what is wrong and how you want to move forward with the whole idea.

No matter what you may be trying to take care of or figure out, it’s a good idea for you to go ahead and call an appraiser that can help you with your needs and how you plan on dealing with it. That being said, if you need to learn more about an appraiser and how they can help you to achieve your goals, you want to give us a call. We can help you to get one that works for your needs and that will allow you to know more about your hospital and how it is working to help the community and make it thrive as needed. Contact us today to get started and to see what you can do when it comes time for you to go ahead and get things done.

Mergers And Acquisitions In Cyprus

ciThe major legislation that regulates mergers and acquisitions in Cyprus is the Companies Law (Cap. 113). In particular, the sections 198-202 contain provisions about mergers, reconstruction and amalgamation of companies, and exchange of shares between two or more companies. Other important legislations are the Control of Concentration Between Enterprises Law (22(I)/ 1999) and the Safeguarding and Protection of Employees Rights in the Event of the Transfer of Undertakings, Businesses or Parts Thereof (104/(I)/2000). The first one promotes fair competition and the second one safeguards employees’ rights in the event of a transfer of undertakings.

Procedure:

First of all, the companies involved in the merger or acquisition must apply to the Court and then schedule a general meeting of the shareholders of both companies. During the meeting, it is determined if it is required to arrange the liabilities between the shareholders and the creditors. It should be pointed out that the company being merged shall be wound up without going into liquidation and its assets must be transferred to the acquiring company.

According to the provisions of section 198, the merger or acquisition proceeds under the condition that the three-quarters of company’s management approve the transaction. Then a scheme is drafted and it is presented to the auditors. Once the scheme is approved, the companies may file the last petition for approval with the Court. Note that the petition should be accompanied by a sworn statement of one director in each company. Afterwards, a copy of the agreement must be submitted to the Registrar of Companies. Finally, the board of directors of each company will draft a resolution that will determine the reorganisation plan and each company will be obliged to follow this particular plan.

It should be pointed out that regarding public companies, the merger procedure will be the same except for minor changes in the merger plan which must contain:

  • the name;
  • the form of the registered office of the companies;
  • details about the transfer of shares and the amount of money;
  • information about the allocation of shares;
  • the exact date when the new shareholders will have the right to profits;

Advantages:

From a tax point of view, the primary benefit of mergers and acquisitions is that profits derived by the dividends are exempt from the corporate tax. Moreover, mergers and acquisitions are not subject to VAT in Cyprus. Another considerable advantage is that profits generated from the transfer of immovable properties during the merger or acquisition are exempt from the capital gain taxation. In addition, regarding the transfer of immovable properties is not required to pay the transfer fee.

How to Craft an Intriguing Elevator Pitch or Byline

eddThe typical elevator pitch goes like so:

I help the blah blah blah do the blah blah blah… YAWN!

Does that sound like yours?

Are you excited about sharing your elevator speech, or do you drag your feet in those networking events hoping you’d never have to whip it out?

After spending 6 weeks agonizing over an elevator pitch, how many times have you actually used it?

Is whatever script you landed on so freakin’ boring and formulaic that you’d rather dress like captain underpants than recite your elevator pitch that makes you sound like everybody else?

If you aren’t excited about what you’re saying, how can you expect others to be convinced?

Even if you don’t go to networking events, writing an elevator pitch is still a great exercise in honing in on your marketing communication with a very useful final product…

– The process makes you get crystal clear on you “why, who and how” so you can focus on doing what matters

– The process helps you distill your marketing message to something succinct that can easily be grasped by others

– The process forces you to be intentional about your word choices, and nail down how to present your work so it appeals to your ideal clients (you can then rinse and repeat it in your content and copy)

– Repeating the process periodically can give you the gut-check opportunity to see if your marketing communication is still in alignment with your soul-level message. You’re NOT married to your elevator pitch – with each iteration you evolve closer to articulating your WHY.

– The paragraph you come up with can be used to pitch media opportunities, or adapted as byline in guest posts or introduction in podcasts (the first TWO words in mine has scored me quite a few podcast interviews – read on to find out what they are)

– The elevator pitch you write can be adapted for your social media profiles so you can be consistent across the board (140 characters! It’s a disciplined process to be succinct and impactful at the same time.)

The process gives you the opportunity to understand what’s important for YOU, tease out what your ideal clients need to know about you to want to learn more, and chew on every word to make sure there’s no fluff in your communication.

First thing first, we’re going to break the templates – they are BORING, make you sound “blah blah blah” and get your audience to tune out.

What’s wrong with the typical elevator pitch formula?

They talk about what you do, who you help and what results you deliver.

Which is fine. BUT…

It doesn’t really answer “why YOU?” Who are YOU, really?

There’re many people who do what you do, selling to the same market, delivering similar results.

It’s probably not your audience’s first rodeo. They’ve heard it all. How can you make a first impression that connects and resonates with them?

Elevator pitch, if done wrong, turns you into a COMMODITY.

If you say “I’m a health coach helping women lose weight” – you’re pitching yourself against ten thousand other health coaches and a million other “weight loss” solutions. Ouch.

Not a battle you want to fight.

Good news is…

I’ve got 5 secret ingredients for an elevator pitch that will make your audience perk up and pay attention…

1. Personality

Letting your personality shine through will help you stand out from a sea of sameness that are your competitors who work with the same people promising the same results.

Communicating your personality makes you look/sound like a HUMAN BEING and increases the trust factor, which lends well to building a relationship conducive to conversion.

Your elevator pitch doesn’t have to “pop and sizzle” – in fact, it can backfire if it doesn’t reflect who you are.

What are the words that ring true for you, so you feel confident and comfortable when you say them out loud?

2. Identity

Your elevator pitch needs to evoke an identity in your audience – essentially communicating that you work with people they aspire to become – to increase their desire to work with you.

How can you evoke an identity in your audience so they get inspired to work with you?

3. Point-of-View and Value

Having a point-of-view is essential in anchoring your message and cultivating credibility.

Having a shared value is magnetic to your ideal clients.

How do you communicate your point-of-view and values in a short paragraph?

A lot lie in the words you use and how you phrase your sentences.

Can you make a bold statement about your work that also reflect your beliefs and values?

4. Intrigue

People have an Internet attention span shorter than that of a goldfish (6 – 8 seconds) – you need to capture their attention and make them curious enough to find out more.

It doesn’t mean you’ve to pull some stunt if it’s not your personality. The key is to find the words or a phase that appeal to your ideal clients while piquing curiosity.

How can you communicate why you’re different beyond a conventional “title?”

5. Power of Word Choice

A good elevator pitch is lean and mean. Cut the fluff – make every word count.

A mouthful is never sexy. It gives you more chances to babble, instead of sounding certain and confident.

What bugs me a whole lot is how everyone seems to start with “I help… ”

It may make sense (especially for those in the “helping” profession,) but it always feels “weak” to me. It doesn’t say a whole lot about YOU – everybody can go about having an intention of helping people.

When you put together your elevator pitch, chew on every single word to make sure it packs a punch. Every word needs to add something new and relevant to the pot.

What makes you tick? What would evoke excitement in your ideal clients?

Does it make you feel confident when you say it out loud? Does it give enough information to your audience for them to want to learn more?

Does it point to your values, POV and personality, enough to distinguish you from your competition so your audience would want to find out more?

Intuitive Brainiac | Copywriting Alchemist. Through her unique blend of Business + Marketing coaching with a Mindset + Psychic Twist, Ling helps the maverick-preneurs uncover, articulate & transform their WHY into content that connects, resonates and converts – by way of her intuitive yet rigorous iterative process born out of her Harvard Design School training and 10 years of experience in the online marketing industry.