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The Ideoli team loves the challenge of finding new clients and starting new projects, and we’re fortunate to have had great success in this pursuit. However, the fact is that sometimes we lose an opportunity. We want to share the reasons why so that we can work better with potential clients and so that other startups can gain insight on some obstacles they may face such as: 1. Poor Communication From The Field: In all relationships, communication is key. As an international business with clients and partners around the world, we need to ensure that we maintain clear, consistent communication with everyone to keep all of our projects and opportunities on track. But if we have poor communication with a supplier on an issue such as production time or cost, then we won’t be able to clearly communicate that to potential clients and could miss out on an opportunity. That’s why we prioritize being open and honest with everyone we work with. 2. Pricing Pressures From Inferior Products: While our unique and diversified partner relationships help us create customized furnishings, fixtures and lighting at competitive costs, we won’t comprise on quality to deliver bottom-of-the-barrel pricing. Sometimes that means we lose an opportunity to a manufacturer with inferior products, but we’re okay with that because we know we deliver exceptional products at an exceptional value for clients. 3. Unrealistic Requests on Timeline: As much as we try to be efficient throughout our production and delivery processes, there’s only so much we can control. If a potential client wants something delivered on an ultra-tight timeline that doesn’t account for factors such as shipping large items across  the Pacific Ocean, then there’s nothing we can do about it. If we lose those opportunities, we know there will be other opportunities where a client’s business needs align with our processes and timelines.   4. Not the Right Fit: You can’t please everyone, and sometimes an opportunity just isn’t the right fit for us or the potential client. We’re not perfect, and we don’t expect our clients to be either, but we want to work with people who align with our positive values and passion for quality. If it’s not the right fit up front, sometimes it’s better to pass on an opportunity rather than getting into a project where no one ends up happy. Instead, we’ll save that energy to focus on other opportunities that are a better fit. At Ideoli, we’re realistic: we can’t win every opportunity, but at least we know what some of those roadblocks might be. More importantly, we won’t change who we are to get around them.

As an international business working with clients and partners in an increasing number of countries around the world, we’re conscious of the risk of currency fluctuations. If left unmanaged, changes in value between currencies affect pricing accuracy. In that case, either we end up paying more than anticipated to our suppliers, our suppliers end up taking an unexpected discount or our clients end up paying more—none of which are good situations. Fortunately, we’ve learned a few ways to better handle currency fluctuations that other businesses can apply to their own international transactions: 1. Provide Shorter Quotation Time Periods: When a business lets a quote sit valid for long periods of time, they increase currency risk. Suppose an Ideoli order includes components from Thailand that currently cost ?317,500 Thai Baht. In US Dollars, that would cost approximately $10,000. Yet if the project took one year and US currency fell by 10% in comparison to Thai currency over that time, that would mean the same order would cost $11,000 in the end. If the original quote of $10,000 was still valid the whole year, the client might not even realize they’re getting a deal while ideoli would be left paying the extra $1,000 to the supplier. To avoid this happening to your business, use shorter quotation time periods to decrease the time in which currencies might fluctuate and leave you holding the bag. If quotes were only valid for one month, for example, you could provide more accurate pricing. 2.  Request Payment Immediately When An Order Is Placed: Upfront payments can work to everyone’s advantage when they decrease currency risk. As shown in the example above, international transactions with long periods between project start and end dates can affect pricing accuracy. If the client agrees to pay in full at whatever currency exchange rates are in effect at the end of the project, they could end up paying more. Or if the client pays at the end based on an earlier quote, the seller might have to eat the extra cost, thereby limiting the opportunity for them to provide savings to clients in other areas. Yet if clients pay immediately when an order is placed, businesses can then immediately pay suppliers to lock in pricing at current currency rates. 3. Look At Market Fluctuation Patterns: While it’s not easy to predict market swings (leave that to foreign exchange traders), businesses can look at past currency fluctuations to identify patterns. For example, if two currencies tend to wildly fluctuate in value against each other month-to-month, then it’s even more important to request payment immediately when an order is placed and to provider shorter quotation time periods. On the contrary, if two currencies have been relatively stable, then perhaps your business can better tolerate currency risk for certain international transactions. Currency fluctuations don’t have to derail your work with global clients. Take steps to mitigate currency risk so you can then focus on delivering value for customers. 

As a connected company with partners located in all parts of the world, Ideoli’s team needs to stay sharp when crisscrossing the planet. But traveling through different time zones can throw your internal clock out of sync and leave you with that dreaded feeling of being jetlagged. Fortunately, we’ve picked up some tips along the way to keep jet lag at bay:  1. Lay Off the Coffee: It may sound counterintuitive, but if you want to stay fresh, skip having coffee or other caffeine sources until you adjust to the new time zone. Even if it’s early in the day at your destination, your body might feel like it’s nighttime, so a morning cup of joe will only mix you up further. “When I go to an international market, I’m often only there for 36-48 hours, and then I’m back on a plane. So I stay away from coffee even though I feel like I need it. Your biological clock doesn’t know and coffee is not a good mix, so I try to stay away from coffee when I’m traveling,” says George Stroumboulis, CEO and Co-Founder of Ideoli. 2. Stay Comfortable to Minimize Travel Stress: International travel can be exciting, nerve-wracking, disconcerting or a combination of a whole host of emotions. But if you want to beat jet lag, try to stay relatively even-keeled and comfortable so that you don’t become restless. Stress, or even just the potential for stress, can cause sleeplessness, notes the National Sleep Foundation. So from our experience, we suggest tips such as bringing your own food and drink on planes. (You can purchase beverages after going through airport security.) Consuming items you’re used to, and on your own schedule, helps you avoid putting your body through more change. Similarly, packing a hygiene kit, such as a toothbrush and change of clothes, can help you feel fresh and comfortable, all of which limits the stress of a long trip. 3. Sleep Before Your Trip: It sounds simple, but it’s true: getting quality sleep before your flight can minimize the effects of jet lag. Similar to the adage for soon-to-be parents of “sleep before the baby’s born, because you won’t sleep after,” sleeping before your trip can make adjusting to a new time zone a bit more manageable. As travel company Skyscanner notes in its guide to beating jet lag, travelers often don’t sleep much before their flights, whether it’s due to pre-trip excitement or purposeful sleep deprivation to encourage sleeping on a plane.