Neuroeconomics and BBG

A synopsis of the July BBG Sydney Enterprise Forum 

By Heidi Kaye 

Neuroeconomics is an interdisciplinary field, combining research methods from neuroscience, experimental and behavioral economics, and cognitive and social psychology. 

Business Builders Group has designed an interdisciplinary programme that aligns with this research that is currently being facilitated in 20 BBG Chapters across Australia and Singapore. 

The pursuit of organisational excellence and the connecting with like- minded individuals is invaluable to a business owner and leader committed to a vision. 

Some people come to the table to pursue lead generation, others for support in solving problems and keeping in check with the 21^st century-ever-encroaching-business-disruption. The outcome of the meeting is that these intentions are mutually achieved, as people get to know, like and trust one another.  

Chairman and co-founder, Ivan Kaye, attends for creative stimulation, and commitment to his vision of ‘creating generational legacies’ and his own workplace wellbeing of feeling socially engaged and inspired. 

Regardless of the ‘why’, the atmosphere of the room is one of camaraderie underpinned by enticing ambition. What brings guests here is a fusion of their curiosity and entrepreneurial edge.

 People ask… Is this similar to BNI and other networking groups and meetups? 

All is revealed at 7.30am as the meeting kicks off with a breakfast spread and an agenda packed with elevator pitches, teamwork brainstorming on the topic of how to effectuate automation, problem solving for members and a ‘knowledge share’ seminar by Christopher Paterson, director of Alchemy CM specialising in workplace wellness. 

Before breakfast has even begun, Chantel, first time guest, has already exchanged business cards with three members who occupy a different niche of the space of Human Resources. She shares the basics about her newly developed software, a culmination of her expertise, compact in a scalable online platform. By the meetings intermission, she has set up three meetings, including one with Transport NSW. 

BBG Sydney Enterprise Forum 

Thirty members and guests took their seats. Affinity People’s CEO and professional facilitator John Cooksey opens the forum. The key principle of BBG is reinforced: members are here to attend with the mindset of ‘how can I add value to your business’. The spirit of generosity is a quality indispensable to members. They listen to one another with the intent of contributing in some capacity. 

The meeting is dynamic. Yet it doesn’t feel like traditional networking. The enigma of BBG moulds to the shape of its members needs on that particular day. It responds to the law of business survival whereby collaboration allows for continuity. 

BBG also abides by the law of a healthy breakfast and the law of reciprocity, as referrals received inspire members to ‘pay forward’ the deed. 

Think Tank - Automation 

The desire for instant gratification need not have negative connotations. This is the innovators fuel and entrepreneurs driving force. Imagine what could be achieved in the time you have been consumed in repetitive tasks. The topic addressed was how to augment and compliment people’s capacity and capability by using tools to enhance jobs rather then replace them. How to enable people more freedom to be creative and innovative.

The BBG Chapter rearranged into four groups of five. Each group collated ideas about tasks that you currently perform that you wish you could automate, noting them on a white piece of butcher’s paper. A member of each group shared the priorities,  challenges and solutions that brought the conversation to a great close. 

The multitude of ideas, reflect the collective hundreds of years of experience in the room. The following table, produced by the group, contains a guide to automation. Embedded in this brainstorm was a sense of each person getting to KNOW each others struggle with repetitive tasks they wish they could automate. There was a sense of getting to LIKE each other in sharing advice for software.  

The “BBG KLT Hotseat” 

Getting to know members on a deeper level - Problem Solving

The Chapter divided again in different smaller groups. As a member, Ivan was one of 3 members in the BBG “KLT HOTSEAT” – he shared some of  his business goals, concerns and reservations in regards to BBG. Usually this information is strictly confidential within chapters, but Ivan overcame his conservative nature and gave his permission to share his concerns and some of the advice that was given.  

HOW TO ENGAGE, INSPIRE AND ENTHUSE?????

“How do I continually inspire and engage members to get them to look forward to forums and mastermind groups?”

“Create awesome content from all the knowledge being created and share it with members and allow them to share it to their blogs and networks.”

 “Upskill train people on use of tools.”

“Make sure feedback is consistently outstanding”

“Make sure your facilitators continue to be the best and engage with members”

“How do I engage members to invite people that they know like and trust as guests to the groups and as guests to mastermind groups and gala events?” 

“reward/ engage people to refer or invite or have one on ones with other members” “ offer them loyalty points – or incentives – maybe take the top 20 to a resort – fully paid – (maybe to Hawaai)”

“Members should put in linked in and social media that they are members of BBG”

“How do I align members, facilitators and founding members of groups to the goals of BBG – Maybe as stakeholders?”

“Your website can be improved – create a piece describing the DNA, soul and character of each chapter  –where each chapter is focussing and the types of people we are looking for in each chapter”

“Allow them to become a stakeholder on same terms as you” 

Ivan concluded: “the advice and comments made were invaluable. We need to focus on continuing to add massive value to members to make sure membership is sticky. And the business will be sustainable.”

BBG Knowledge share

Christopher Paterson: Alchemy Career Management talking about wellbeing at work

Professional development is the foundation of achieving better career outcomes. Yet it is easy to overlook ‘wellness at work’ as the foundation of professional development, when consumed by workplace stress. 

This inconsistency is not only limiting a persons potential of ‘living to the full’, but their hindered performance is costing companies huge revenue. Christopher Paterson of Alchemy Career Management, has devised a comprehensive formula to reconcile something which has been ‘broken’ in the collective. 

The 6 cylinders is the strategic plan for career success. This is a cognitive, emotional and behavioral approach that begins with neuroscience: ‘it is not about making life changing alterations but rather tweeking the dna of your day’. Emotional intelligence and a lifestyle conducive to wellbeing enhance ones ability to a) think laterally and creatively b) focus on complex tasks with clarity and c) feel self motivated to work conscientiously, producing consistently high quality work. 

Chris emphasized that the level of cortisol corresponds to level of successful engagement as working in ‘the sweet spot’ balances boredom with anxiety to produce an optimal state of engagement.  

Through the six cylinders, employees are empowered to look after themselves as individuals and take responsibility for their own behaviour and performance. 

What is one thing that you learnt today? (summary from feedback forms)  

• “Advice of various Tools for Automation”
• “Reference for Neuro leadership – Chris’s presentation was excellent”
• “Tools to automate and create better proposals “
• “LOTS”
• “Importance of Community” 
• “Learning more about the people in the Enterprise Chapter”
• “The extent of Depression and Pressure in the workplace, impacting employees”
• “What the model of BBG Is” and “the importance of sharing with generosity”
• “The importance of Work / Life Balance,  managing stress” 
• “ The importance of Wellness – and how often it is overlooked - and what you can do abut it in the workplace”