Entrepreneur Barbie

직장여성 바비2

Recently Entrepreneur Barbie got attention at Mattel’s Toy Fair that was held last month. Organized by ‘Mattel’ in celebration of the 55th birthday of Barbie, this new Entrepreneur Barbie resembles a modern career woman of today. Dressed in pink suite and holding a black suitcase in one hand and a tablet PC in the other.

Of course,Barbies have been entrepreneurs before, dressing up as tour agents, fashion designers, and many more. She has been one busy working-bee. Really, the Entrepreneur Barbie seems the latest evolution of the career doll that’s been part of the line since 1963. With nearly 8.6 million female business owners, it’s not a leap that the new career is one she forges herself.

Sad reality is that Barbies tend to remind us of a stereotype — caucasian woman with blond hair. However this time around, Entrepreneur Barbies tried to represent more ethnicities, going beyond the traditional ‘baribie poof hair’. Nevertheless, some people are still criticising  Barbie for creating sexism and racism.

On the brighter note, like many woman of a certain age, Barbie has been going through a  midlife crisis. Doll sales have declined significantly since their glorious days in the 1990s, and year-over-year sales were down 13 percent in 2013. The lows seemed to have taken a toll on Barbie’s personal life. In 2004, she left Ken for a surfer named Blaine — only to take Ken back two years later.

References by Linda Lacina, Introducing Entrepreneur Barbieby Korea Herald, Entrepreneur Barbie

 Edited by Asia Founders

KONEX market status after its launch last year

konex market opening ceremonyIt has been 8 months since The Korea New Exchange (KONEX) was officially launched on July 2013. The objective of KONEX was to foster the growth of young SMEs (Small Medium Enterprises) based on their potential to raise capital and increase liquidity of their stocks easily while being supported by the government’s “creative economy” vision.

So how successful is KONEX market at this point?

While conventionally it took 14.3 years on average for a firm to be listed on the secondary tech-heavy KOSDAQ market since its establishment, the KONEX market aims to embrace companies that are 10 years or younger.

Korea Exchange first selected 21 companies handed in by 10 brokerage houses (authorized supervisors) to be listed on KONEX market.

This nominated advisor system was introduced to eliminate the information asymmetry about listed SMEs and to support the listing maintenance. Authorized supervisors are selected among the securities companies with underwriting experience.

Now KONEX lists 31 companies, coming short of their initial plan to attract 50 firms. However, it has a balanced sector composition constituting of issuer from bio, semiconductor equipment, software, car parts, and financial information sectors, etc.

Market capitalization increased 44% from KRW 468.9 billion on the first trading day to KRW 673.2 billion on November 29, 2013. But the daily average trading value fell from KRW 0.44 billion to 0.36 billion, as did stock turnover from 1.94 to 1.08.

Market participants in KONEX are restricted to professional investors under the FSCMA, venture capital, retail investor unions, and retail investors who have deposited the basic deposit of more than KRW 300 million (US$263,273) under the Support for SME Establishment Act, the minimum amount of a transaction being 100 shares.

Other investors outside the categories can access the market indirectly through publicly placed funds. On the other hand, AIM and TSX-Venture have no limit on market participants and neither does the OTC Markets Group in the US.

In October 2013, the Financial Services Commission and KRX together announced supplementary measures of KONEX to take place in Korea. The measures convers various areas including securing demand and supply for listed stocks, a supplementary measure to the fast track system that induces KONEX members to switch to KOSDAQ or KOSPI listing, and enhanced public relations activity. Revision of the Support for SME Establishment Act in order to encourage venture capitals to invest in KONEX was suggested. Also, KONEX-listed stocks will be included in the high-yield funds portfolio, which is subject to separate taxation.

Minimum listing requirements

listing requirements: to meet any one of the size, financial or earning requirements

*e.g.: to select any one three requirements stated below:

  • the equity capital of no less than KRW 500 million
  • sale amount of at least KRW 1 billion
  • net profit of no less than KRW 300 million

97.6% of the companies subject to the audit by external auditor meet this requirement according to the financial statement of 2010.

 

Source: [PDF] KONEX Market Status and Supplementary Measures by Lee, Inhyung[PDF] I. Overview of the KONEX Market by KRXKRX launches new venture-driven KONEX market by Kang Yoon-seung, YH NEWS

How to Find the Right Mentor for Your Startup

 How to Find the Right Mentor for Your Startup

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For some people who want to startup, it is really important to find a mentor who can help you deal with problems that you will face in unexpected situations. So the important question in stake is “How do you find a mentor who is suitable for you?” Here are some tips that will guide you to get a right mentor.

1. Mentors are Everywhere

- Some people complain that they cannot find suitable mentors from their area; but unlike what they believe, mentors are everywhere. You will be able to find one sooner than you expect after a little poking around. Take a look around at your friends and family. Some of them might be the one to give you great advices based on their life experiences that you might have overlooked . Having consistent and continuous conversations with them and bouncing ideas off one other will bring a pleasant surprise for you in a crucial moment.

2. Reach out to Free Counselling Associations/ Clubs

- If you think that you still need to get more of a specific and specialised advice, approach some organisation that will pull you out of your uncertainties. For example, SCORE is a non-profit organisation where free advices available from retired professionals that connects mentors and mentees and creates on-going networks. Besides SCORE, there are many networking or service organisations such as your local rotary club where you will meet amazing business leaders in your community and receive benefiting advices from them.

3. Seek a your dream mentors

- Having mentors doesn’t exactly mean you are able to talk to them face-to-face. Your dream mentors can be famous authors or gurus in any filed. Find out everything about them. What routines do they have? What hobbies do they have? What influences them? How do they make decisions? Follow up on their steps in reaching their goals and read articles and books on them.

There is a possibility that your dream mentors are part of history; But as long as their thoughts and achievements inspire you, you will find valuable and applicable guidance from knowing them and their lives.
Source: by Liz Elam, Entrepreneur http://www.entrepreneur.com/article/228990

Edited by Asia Founders

 

Startup Teasers for VCs

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Teaser is a crisp summary of your startup that VCs will ask for during the 5-minute conference pitch or a quick phone call. It will determine your venture’s first impression, and thus can be considered as the most crucial first document that either wins or looses your investor’s interest in your venture. Also, this document will most likely be shared with potential Lead General Partners for the deal, so it should be pressing all the right buttons.

 

Here are some tips for creating the perfect Teaser for VCs

1. Do not use MS-Word Format

This applies to creating your business plan as well. MS-Word format is the most boring and cumbersome format for both writer (you) and reader (your potential investors). Often the main points get lost in the heavy-weighted text. This approach will tire your VCs out, especially as they are known to have low attention spans.

2. Save your Executive Summary for later

Teaser is meant to give a sneak peek of your venture. If anything, your teaser should resemble a tactical executive summary of your business plan.

3. Get rid of all un-important details/descriptions

VCs don’t care about certain details in their first level filtering process. Do not include customer testimonials, office pictures, verbose product descriptions etc. Don’t risk putting in redundant details that might loose your investor’s interest.

4. Brief information on market and industry environment

The VCs you are dealing with already have good understanding of all sectors of interest and basic business dynamics in all segments. Covering too many details about regulatory environments, recent developments, and policies will only dull down your teaser. It is expected once you pass the first filter; your VC will diligence all the above with greater detail.

5. Avoid using excessive jargon

Though VCs keep their eyes open on all sectors of interest, they are rarely experts at any sector. Excessive technical jargons will only push them away from investing in your venture. Make your teaser simple, brief and enticing for a layman.

6. Reserve valuation expectations for the Term Sheet

Valuation should be negotiated not stated. You might come off as a businessman with an immature and rigid mindset for fund-raising. Wait till the Term Sheet discussion.

10-15 slide Teaser Example

Business Snapshot (1 slide) – summary of your venture

  • Company establishment date
  • What you do (2-3 bullet points)
  • Present status
    • Revenue traction (1 line)
    • Number of customers (1 line)
    • Names of key marquee customers (1 line)
    • Key recognitions (1 line)
    • Market size (1 line)
    • Planned fundraising amount

Team (2-3 slides)

  • The more detailed, the better. This is where deals are potentially made
  • Spend enough time describing each founder, his or her education, work experience, prior entrepreneurial background, awards and accomplishments etc.
  • Mention Advisory Board
  • Include existing angel investors

Market Opportunity (1-2 slides)

  • Use engaging elements such as charts, tables, graphs etc
  • Include market need, size, growth in 2-3 key points omitting any long-winded descriptions.

Description of Product/ Service/ Business Model (2-3 slides)

  • Describe the offering and value proposition with pictures/ flow charts in crisp bullet points
  • Avoid using excessive jargon

Competition/ Key Differentiators/ USPs (1 slide)

  • Pictorially show the competitive landscape
  • 2-3 crisp bullet points on your uniqueness, entry barrier and competitive advantage
  • Briefly mention any IP created

Revenue Traction (1 slide)

  • Include current and relevant revenue traction (month-over-month, quarter-on-quarter, year-over-year, etc) – use engaging graphs with values indicated within them
  • Customer pilots are important
  • Mention logos of key paying customers
  • Important to include revenue visibility –built/ leads/ prospect

Financial Projections (1 slide)

  • Put a tabular snapshot of Profit & Loss projections, for the next 3 years
  • Devote top half of table for projections of key operating metrics (inputs for your financials)
  • Devote bottom half for actual financials
  • Mention select key items (Rev, GM, EBITDA etc.) rather than detailed line items

Fundraising Plan (1 slide)

  • Mention the fundraising amount
  • Include the deployment plan – amounts categorized into at least 3-4 broad heads (hiring, R&D, product development etc.)
  • Optional – amount of money already gone in to the company, shareholding pattern etc.

You as an entrepreneur should definitely add your personal touch to the Teaser. But remember, the easier and appealing it is, the lesser the resistance from VCs while evaluating.

Source: by Soumitra Sharma, IDG Ventures India http://yourstory.com/2012/01/teasing-the-vc-with-the-perfect-teaser/

Edited by Asia Founders

Top Tip: How To Run An Effective Social Media Program

A few years ago social media may have been considered a luxury (or distraction), but it has since been proved to provide meaningful competitive advantage.  As its influence grows, smart business owners will come to recognize it not as a project, initiative, or even a department, but as a way of doing business.

That said, just as big companies have big ad budgets that give them a sizable advantage over small businesses, they also have more resources to invest in their social media programs. But unlike advertising, the playing field in social media can be much more level. The key is to manage your limited resources wisely.

1. Strategy first. Too often the way companies approach social media is similar to how individuals approach dieting: Initial excitement soon turns to discouragement and ultimately disillusionment. Success in either area begins with strategy; you can increase the odds of achieving your goals by thinking ahead and customizing an approach that works for your specific situation.  One strategic mistake many companies make is choosing social media platforms based on what they are comfortable with as consumers. That’s like advertising in a fly-fishing magazine simply because you’re a fly fisherman—it might be the right decision, but not if you run a bakery. You need to take into account the characteristics of your organization, the profile of your audience, the nature of your message, and the strengths and weaknesses of each platform before you can prioritize where to focus your efforts.

Another common mistake is jumping onto multiple platforms without taking time to understand them. Each social media ecosystem has its own subculture, language, rhythm, and rules, all of which must be fully mastered to generate success. You can’t fake it or take shortcuts; companies that, for example, dump identical content on different platforms just look stupid. If you don’t have a good grasp of the peculiarities of each social media platform you choose, you should think twice before jumping onto it.

2. Content is king. One reality that’s often overlooked when companies skip the strategy step is the ceaseless need for new content. Social media is a river that runs 24/7, and once you establish a presence it’s vital to keep paddling. Companies that don’t determine a thoughtful and scalable content development strategy ahead of time can easily find themselves watching the conversation flow by.

Establishing what you want to accomplish, what it’s going to require, and how you intend to go about it will enable you to determine what metrics you’ll need to measure success, another often-overlooked step. Big companies have the bucks to develop customized systems for information gathering and analysis. You don’t, but dozens of affordable Web-based services are appearing (and improving) every day that can get you most of the way there. As your program grows, the metrics you set up (based on your strategy and tied to your objectives) should justify allocating the budgets and staff time necessary to enlarge your social presence.

3. Success takes time. The heaviest (and frequently underestimated) lifting is designing and installing the processes you’ll need to effectively allocate your limited time and budget resources. Somebody needs to be in charge of trend watching, content development, calendar creation, writing, editing, posting, interacting, responding (in as close to real time as possible), and, depending on the platforms used, photography, graphic design, video production, and more. It can get hairy fast.

Even if you’re starting small, say with a single presence on Facebook or Twitter, you must not underestimate the time required to be effective. A recent Vertical Response study of 462 small businesses indicated that 43 percent spend six or more hours a week on social media, and 18 percent spend more than 10 hours a week. The biggest time sink: content creation. It takes even more time if a blog is a part of your strategy.

Content development is another area that can often be outsourced, as long as the handoff (turning that content into actual posts) is well-managed. The one thing you shouldn’t outsource is your corporate voice. Social media is not just about what you say, but how you say it. The whole point is generating real-time conversation and responding as events unfold. That’s just not something you want to vend. And never—never—delegate your individual social media presence to another person, even within your own company. No matter how capable and conscientious they may be, they’re not you. They don’t have your judgment. They don’t have your personality. And it’s simply not authentic.

In the not-too-distant future, there will really be no way to separate social media from the rest of the enterprise—it can or will affect not only marketing but customer service, accounting, research, investor relations, vendor relationships, distribution, and even product design. Getting a jump on managing it well now can give nimble small companies the ability to get out in front of slower competitors.

(Source: www.businessweek.com)

Organised Office, Organised Mind

Below are some tips to help keep your office organised and running smoothly:

1) Clean out each desk drawer, to free up even more valuable storage space.

2) Clear off the top of your desk, then wipe off the surface of the desktop.

3) Keep essential items on your desktop (computer, phone, fax, card file).

4) If you work with more than one person create an in box for each person.

5) Have a master to-do list for each day at your desk.

6) Pre-Sort the mail.  To-File, To-Read, To-Contact(write or call).

7) Use a variety of containers to organize office supplies, paper clips and pens.

8) Use a variety of desktop organizers or trays to organize papers that come across your desk.

9) Create a separate drawer for personal paperwork, items, etc.

10) Use storage boxes to store dated files.

11) Purchase Magazine boxes to store booklets, magazines, catalogs you want to keep.

12) Create a file for magazine articles or scan them into your computer.

13) Filing system should be simple easy and manageable.

14) Color-coding your files makes it faster to find information.

15) Do not over stuff folders.  It may be time to toss some of the information in the folder .

16) Never overload filing drawer.  It will make it difficult to retrieve information in the drawers.

17) Sub-divide larger files with interior file folders.

18) Tab hanging file folders in the front.

19) Return calls in batches.  Leave specific messages and the time you called if the person you’re trying to reach isn’t available.

20) Empty workspace of everything but the project you’re working on to cut down on distractions.

21) Keep an assortment of all-occasion cards and stamps in your desk.

22) Keep takeout menus from favorite restaurants so you can  order ahead and pick up dinner on your way home.

23) When using more than one checking account, color coded checks are an easy way to identify each account.

24) At the end of each project or event, organize paperwork and file or store it.

25) Straighten desk at the end of the day and especially at the end of the week so that you can start each morning with a clear desk.

(Source: www.businessknowhow.com)

Budgeting = Better Business

Creating a budget can help a startup entrepreneur set goals and evaluate the viability of a business idea. It can also help established small-business owners gauge the financial health of their companies, identify new investment opportunities, and measure progress. In short, no business should be without a working budget.

Why does a would-be entrepreneur or a small-business owner need to devote the time to creating a working budget?

For a startup CEO, a well-planned budget is crucial to assess whether an idea is realistic, from a business and financial perspective. Once a company is in motion, it’s a tool that tells you whether or not your financials are on track. If you experience unexpected windfalls or expenses, your budget acts as an early warning system to alert you to those things. And, of course, a budget is key to getting loans, bringing on new partners, and attracting investors.

With a budget, you’ll have a history of performance that allows you to show what you planned to do with your company, and what you have achieved. Every entrepreneur on the inside of a company looking out knows her business and believes in it. But [someone on the outside looking in wants] to see planning and deliverables. Building a budget is step one in being able to do that.

Don’t most companies have budgets?

Most, but not all. We’ve found that a substantial number of the micro-businesses we counsel do not have working budgets. The reality is, most small-business owners found their companies because they love whatever it is they are producing or providing as a service. Managing the finances is secondary to most of them. So, if they feel like the financial matters are more or less under control, they don’t bother to create a formal budget.

Also, small-business owners are always strapped for time, and the last thing they want to spend a lot of time on are financial details. What’s key is to make the commitment to do a budget, and then make it as simple — but also as effective — as possible.

How do you define a budget, and what elements should it include?

Very simply, it involves identifying the income that the company is bringing in, and also identifying the expenses that are going out. Every company should track its income, expenses, and profits, and project those numbers about a year out, or even a couple of years out. Doing that shows how the company is expected to do in the future, and as time passes, those expectations can be compared to how the company actually does. That comparison shows the entrepreneur, and perhaps investors, how the company is performing and whether or not goals are being met.

There are three primary financial statements that go with a budget. For a very small business, the cash-flow statement is the most important document, as most small companies work on a cash basis. I tell entrepreneurs that if they’re only going to create one financial document, they should make sure they have a monthly statement of cash flow. After that, it’s not terribly difficult to also produce regular income statements and balance sheets.

How do small-business owners make realistic projections about what their financial performance will be over time?

If they are already in business, they should have a lot of historical data they can look at and go from there. A new business owner will need to do some research.

Start by pulling together all your anticipated sources of income. Then think about whether the business is seasonal, what additional income sources might come along in the near future, and what your marketing plan is likely to generate in terms of increased income throughout the year. Next, you do the same thing for your fixed costs and variable expenses, thinking about each major line item and what it is expected to cost. Once you’ve pulled the pieces of the puzzle together, you need to plug in the numbers.

How do you come up with those?

You research prices and what things are likely to cost. If you can, you research the sales of other people in the same market you’re in. Something to remember is that it always pays to be a little bit conservative with your numbers. It’s always great to have some contingency funds. So, don’t constrict your business from taking advantage of good opportunities, but do build a financial cushion into your budget.

What are the dangers of not having a budget?

The biggest danger is running blindly into a nasty surprise. Some of those surprises could even put your company out of business. For a startup company that doesn’t establish a budget, it may find that even if it is selling as much product as expected, or has attracted as many customers as is realistic, the numbers just don’t add up. It may simply be impossible to make a profit at the business, even if you achieve all the mental goals you established upfront. A lot of times with startups, entrepreneurs are focused so completely on recruiting customers that they don’t realize how much their expenses are going to eat into their income.

What are some of the common mistakes you see in budgeting, and how can entrepreneurs avoid them?

The biggest mistake is for a business owner to treat a budget as a one-time exercise, or a once-a-year exercise, rather than as a living document that they’re using to run the business day to day. Often we see entrepreneurs who have prepared budgets, but only because they are trying to get a loan, or they’re doing their taxes. They put all this time and effort into drawing up the budget, then they set it aside and never consult it again.

Another mistake is making a budget unrealistic, not putting in the right amount of detail, or having some key elements in there, but getting bogged down when it comes to making projections. Don’t worry too much about having them be absolutely accurate.

And the final most common mistake is that entrepreneurs usually need help with their budgets, but they don’t ask for it. Having a CPA or other financial adviser help you prepare a first-time budget is a great idea. After that initial budget is drawn up, many entrepreneurs can do the updating themselves. Still, it helps to have a professional looking over your shoulder, especially at tax time.

(Source: www.businessweek.com)

Business Partnerships: An Understanding

Small business owners often choose a sole proprietor business structure when starting up.  The road to entrepreneurship can lonely. Greater rewards may result from forming a business partnership. Partnerships offer more freedom for business owners with shared business tasks and the potential to earn greater profits.

Creating A Winning Business Partnership

  • Have The Same Vision: For a partnership to be successful, all parties involved must agree on the same strategic direction of the company. If one partner wants to build a national chain of retail outlets and the other would just like to earn a decent living, the business will fail in no time. Set a clear agreed course for the business that meets the needs of both partners.
  • Define Business Roles: A winning business partnership capitalizes on the strengths and skills of each partner. Divide business roles according to each individuals strengths. E.g. one partner may be strong in marketing, operations and finance, the other sales, human resources and leadership.
  • Avoid the 50-50 Split: It may seem logical and fair to split the share of ownership into an equal 50%. However, this ownership structure can impair decision making in the future. Instead of having decisions stalemated, consider a 49% to 51% split. If this is not possible, an outside board for bigger issue disagreements can help your company from being deadlocked on decisions.
  • Hold A Monthly Partner Meeting: A strong business partnership is built on an open communicating relationship. Meet on a monthly basis to share grievances, review roles and provide constructive criticism.
  • Create A Partnership Agreement: It is simple to set up a partnership because no legal documents are needed. Partnerships are often an oral agreement between two or more parties. Potential problems can be averted down the road by drawing up a legal partnership agreement.Contents Of A Business Partnership AgreementWhat should be covered in a good business partnership agreement? According to the Small Business Administration(SBA), the agreement should include the following:
  • Amount of equity invested by each partner.
  • Type of business.
  • How profits and loss will be shared.
  • Partners pay and compensation.
  • Distribution of assets on dissolution.
  • Provisions for changes or dissolving the partnership.
  • Dispute settlement clause.
  • Settlement in case of death or incapacitation.
  • Restrictions of authority and expenditures.
  • Length of partnership

Building a small business can be more rewarding and profitable in a partnership environment. Consider a business partnership structure when you have someone to compliment your skill set and add value to your company. Partnerships can work when the right foundation is laid in the beginning.

(Source: http://sbinformation.about.com)

Cash Flow Statements: The Ins & Outs

Cash is what keeps your business functioning. You obviously need profit, but equally as critical is your cash flow.

It’s important to know the financial health of your business, which is why you need to understand the purposes of your different financial statements. Your traditional financial statements include a balance sheet, profit and loss statement, and cash flow statement. What does the cash flow statement tell you that the others don’t?

There’s a difference between profitability and cash flow. You may be profitable and still have a negative cash flow, which is a difficult concept to understand for most business owners. Why? There are things that take cash out of the business that don’t classify as expenses and therefore don’t appear on your profit and loss statement. These include:

  • Payment of loan principal
  • Payment of credit card principal
  • Owner’s draws

These transactions take cash out of the business and therefore show up on your cash flow statement, but not on your profit and loss statement. When you borrow money from a lender or credit card vendor, you don’t count it as income. Therefore, when you pay it back, you don’t count it as an expense. The interest or finance charges you incur on borrowing that money are an expense and will appear as an expense and use of cash. Similarly, when you invest money in your own business as an owner’s investment, it’s not counted as income. So when you take money out as an owner’s draw, it doesn’t count as an expense. Owner’s transactions affect your equity, not your revenue or expense accounts.

When looking at a cash flow statement, you have three main breakdowns that show where cash is coming from and going to:

  • Operations
  • Investing
  • Financing

Operating activities include your day-to-day operations. Increases and decreases in receivables and payables are accounted for on your cash flow statement, as are other activities from operating your business and selling your products and services. The operating section is where your main cash flow should be generated. Long-term business health comes from having a good net profit and positive cash flow from your operating activities.

Investing activities include the purchase and sale of your long-term fixed assets, such as property, plant and equipment.

Financing activities include the borrowing and repayment of long-term liabilities.

Understanding what your cash flow statement is telling you about your business is critical. All three of your main financial statements–balance sheet, profit and loss statement, and cash flow statement–relay a different view of your business, and each is critical to the overall health of your business.

(Source: http://www.entrepreneur.com)

Top Tip: How To Make Your Fridays More Productive

Is Friday a productive day in your workplace? Is it marked by the chaos of last-minute fire drills by those desperately trying to finish their work before the break?

Friday can seem to be the most dysfunctional day of the week. (After Monday, of course.) But it doesn’t have to.  In fact, Fridays can be one of the best days to actually get work done.

Let’s take back our Friday’s by eliminating some of the chaos, and  simplifying our work day.  Try and eliminate the following from your Fridays to make them more productive:

  • Email – Get out of your inbox and get productive. Stop waging the email war. Some companies have designated Friday “email free” and it has made a tremendous impact of their team’s ability to get work done.
  • Meetings – Meetings take up way too much of our work week already. Let’s declare “No Meetings Fridays” and reclaim at least one day a week from scheduled meetings.
  • Negativity – It’s the end of the week, there is no time for being negative. Leave out the complaining, whining, and gossiping. Don’t associate with those who do it. You’ll be long gone for your weekend while they’re still telling stories. (See #7 below)
  • Phone – Friday is a great day to stay off the phone. Instead of talking on the phone, go see people in person. Go down the hall and talk to someone face-to-face. For those who are remote workers, this may not be possible. But, you can try other more personal ways to communicate such as Facetime or Skype. The extra effort almost always pays off in the relationships built. You can’t communicate at the same level when you can’t see someone.
  • Interruptions – One of the best ways to reclaim your Friday is to limit interruptions. Find a place to do uninterrupted work. Maybe it means reserving a meeting room or even going offsite. Of course, set expectations with your team before you “go silent” so that they know how to reach you for a true emergency.
  • Unnecessary Paperwork – Keep Friday for the important work. The creative work that you can’t seem to get large time blocks for during the week. Leave the unnecessary paperwork for later. This is also a good time to look at what paperwork needs to be eliminated on a permanent basis, as well. Much of the paper-shuffling we do is unneeded in the big scheme of things.
  • Work Hours – Get your work done and get out. There is no reason to expand your work to fit the time. The traditional work week is dead.

With a little effort, Fridays can be the most productive day of the week.

Reclaim them and you might just discover a “hidden” day of productivity that you were missing.

(Source: www.timemanagementninja.com)