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The Top Leadership Mistakes That Hold You Back (And How to Fix Them)

Becoming a successful leader is the goal of many ambitious and entrepreneurial individuals. With the rise of self-help books, workshops, and courses, the market is flooded with resources to guide future leaders toward success. Many seasoned leaders have begun writing books, sharing their experiences and strategies, and offering information. However, while the advice is abundant, it’s important to remember that simply reading about leadership isn’t enough. The practical application of that knowledge can be hampered if inevitable mistakes are made. Here are some common leadership pitfalls to avoid:

1. Lack of Communication

Effective communication is one of the most critical skills for any leader. A great leader may possess all the right qualities — vision, motivation, expertise — but those qualities can be undermined without the ability to communicate effectively. Communication goes beyond simply talking to your team; it involves actively listening and creating a space where your employees feel heard and valued. When leaders fail to communicate openly, they miss valuable insights and suggestions that could improve the business.

Think about the gardener mowing the lawn or the bookkeeper in the accounts department. Though not in top management roles, these individuals often have important observations or innovative ideas that could benefit the company. If leaders do not take the time to listen, they risk losing these potential gems of information. An open and communicative environment encourages employees to share ideas, which, in turn, promotes innovation and growth.

2. Micromanaging

One of the employees’ most frequent complaints about their managers is the inability to trust them with their tasks. Micromanaging is when leaders attempt to control every aspect of a task or process, hovering over employees and constantly offering unsolicited advice or direction. While it may come from wanting to ensure quality, micromanaging can lead to frustration and resentment within the team.

Employees are hired because they possess the skills and competence to perform specific tasks. When leaders start doing the work for them instead of guiding and supporting them, they waste time that could be better spent on higher-level tasks. This also leaves employees feeling undermined, stifled, and unappreciated. Instead, trust your team members to do their jobs and provide them with the space to shine. This will foster a sense of autonomy and help your employees develop their skills further.

3. Not Setting a Good Example

A leader’s actions, attitudes, and behaviours set the tone for the entire organisation. Holding onto grudges, seeking revenge on competitors or other employees, gossiping, or displaying poor emotional control can have disastrous effects on a team. Leaders must remember that their behaviour is closely observed and imitated by employees. If they witness dishonesty, anger, or lack of accountability, they may adopt those behaviours themselves.

One of the worst traits a leader can exhibit is an inability to admit when they are wrong. No one is perfect, and no leader should expect perfection from themselves or their team. Admitting mistakes is important to fostering a culture of honesty, learning, and growth. When leaders own up to their errors, it teaches employees to do the same, creating an environment where mistakes are seen as opportunities for learning rather than failures to be avoided.

4. Lack of Forward-Thinking

Successful leaders don’t just focus on day-to-day tasks; they look to the future and prepare for it. Being reactive rather than proactive can result in missed opportunities or being caught off guard by unexpected challenges. Leaders should have a clear vision of where they want the company to go and develop strategies to get there. This might include small, incremental changes that can make a big difference over time, whether in revenue growth, improving workplace culture, or enhancing operational efficiency.

Forward-thinking leaders always assess trends, anticipate potential problems, and position their businesses for long-term success. They understand that success is about surviving the current moment and thriving in the future. Developing a forward-thinking mindset requires planning, adaptability, and the willingness to adjust strategies as circumstances change.

Conclusion: Leadership Is About More Than Just Yourself

At its core, leadership is about more than just personal success—it’s about fostering growth in yourself, your employees, your strategies, and the business as a whole. Every action, decision, and interaction you have as a leader will have a direct or indirect impact on your organisation. The way you handle challenges, communicate with your team, and set an example will shape the company’s culture and direction.

Successful leaders understand the importance of self-awareness, communication, trust, and forward-thinking. You can become a more effective and respected leader by focusing on these aspects and avoiding common pitfalls like poor communication, micromanaging, setting a poor example, and lack of planning. Ultimately, how you present yourself and your leadership style will reflect the values you want your business to embody. When leaders prioritise the success and well-being of their teams, the entire organisation thrives.

2025,New,Year,Journey,And,Future,Vision,Concept,.,Businessman

How to Attract Investors: Crafting the Perfect Pitch for Your Startup

Securing investors is a crucial element in establishing and expanding a successful startup. Whether you’re seeking funding for a tech venture, a new product, or an innovative service, the way you pitch your startup can make all the difference. Investors want to see a compelling business model, a capable team, and a clear vision that promises a return on their investment. Crafting the perfect pitch requires strategy, preparation, and an understanding of what makes investors tick. In this article, we’ll guide you through the essential steps to create a pitch that captures attention and drives investment.

  1. Research and Know Your Audience

Before crafting your pitch, it’s crucial to research your potential investors. Learning about their background, interests, and previous investments allows you to customize your pitch to resonate with them directly.

  • Know the Investor’s Portfolio: Familiarise yourself with the industries and businesses they have previously invested in. Investors are more likely to back a startup that aligns with their existing interests or expertise.
  • Understand the Type of Investor: Different investors have different goals. For instance, angel investors might be more open to taking risks on cutting-edge startups, while venture capitalists might prefer scalable businesses with rapid growth potential. Tailor your pitch to match their investment style and expectations.
  • Find the Right Connections: If possible, try to establish a connection or introduction through a mutual acquaintance. A warm introduction can help you start on the right foot and increase the chances of securing a meeting.
  1. Define Your Value Proposition Clearly

Your value proposition is the core of your pitch. It’s what sets your startup apart and explains why it’s worth investing in. Investors want to know what problem your startup solves and why it’s the best solution available.

  • Focus on the Problem: Start by clearly defining the problem your startup addresses. It’s important for investors to grasp the problem your product or service addresses and why it’s a major concern for your target audience.
  • Present the Solution: Once you’ve established the problem, explain how your startup provides a unique and effective solution. Highlight what makes your approach different from competitors and why it’s better.
  • Keep It Simple: Your value proposition should be concise and straightforward. Avoid technical jargon and focus on delivering a message that’s easy to understand. If you can’t explain your value in one or two sentences, it may need further refinement.
  1. Showcase Market Potential

Investors seek out companies that demonstrate the potential for growth. Demonstrating the size of your target market and its potential for expansion is essential for showing that your startup is a viable investment.

  • Present Market Research: Provide data that supports your claim about the size and growth of the market. Highlight trends, forecasts, and relevant statistics to show that there is a demand for your solution.
  • Define Your Target Audience: Explain who your customers are, their needs, and how your product or service caters specifically to them. The more precise you can be, the more credible and appealing your pitch will be.
  • Illustrate Scalability: Investors want to see that your business model is scalable. Explain how your startup can grow over time and enter new markets, if applicable. Show them a roadmap that outlines the future growth opportunities and how you plan to capitalise on them.
  1. Highlight Your Business Model and Revenue Streams

Your business model is the foundation of your startup’s profitability. Investors need to see a clear plan for generating revenue and scaling the business.

  • Explain How You Make Money: Whether it’s through subscriptions, product sales, licensing, or another method, be clear about how your startup generates income. Investors want to understand how you plan to monetise your product or service.
  • Provide Revenue Projections: Include realistic financial projections that demonstrate how your startup will grow over time. Outline your expected revenue, costs, and profits over the next few years, and explain the assumptions behind these numbers. Be prepared to discuss how you’ll reach these milestones.
  • Highlight Diversification of Revenue Streams: If your startup has multiple ways of generating income, showcase this in your pitch. Having multiple sources of revenue can enhance your business’s resilience and attractiveness to investors.
  1. Demonstrate Traction and Progress

Showing that your startup has already made progress is crucial for building investor confidence. Potential investors are often inclined to support businesses that have proven the viability of their concepts, gained users or customers, or reached other significant milestones.

  • Show User Growth or Sales Figures: If you have already launched your product, share statistics that demonstrate user adoption or sales growth. Highlight any key achievements, such as reaching a specific number of active users or securing significant partnerships.
  • Present Testimonials and Case Studies: Share positive feedback from customers or partners. Testimonials and case studies can provide evidence that your product works and is valued by its users, adding credibility to your pitch.
  • Highlight Partnerships or Collaborations: If you have secured partnerships with other companies, organisations, or influencers, include this in your pitch. Strategic partnerships can enhance your startup’s credibility and indicate that others believe in your business model.
  1. Showcase Your Team

Investors don’t just invest in ideas; they invest in people. A strong, capable, and passionate team is often the deciding factor for investors. Make sure to highlight the strengths and expertise of your team members.

  • Introduce Key Team Members: Provide a brief introduction to your team, focusing on their relevant experience, skills, and roles within the startup. Highlight any achievements that show they are capable of executing your business plan.
  • Demonstrate Team Chemistry: Investors want to know that your team works well together and can navigate challenges as a cohesive unit. Show that your team has a shared vision and the ability to collaborate effectively.
  • Fill in Skill Gaps: If there are areas where your team lacks expertise, be honest about it and explain how you plan to address this. You might mention plans to hire additional talent or bring in advisors with specialised knowledge.
  1. Present a Strong Business Plan

A well-thought-out business plan is essential for gaining investor confidence. It should outline your strategy, timeline, and milestones, showing investors that you have a clear path to success.

  • Provide a Clear Roadmap: Include a timeline that outlines the key milestones you aim to achieve in the next few months and years. This could include product launches, reaching revenue targets, or expanding into new markets.
  • Discuss Funding Needs and Allocation: Be clear about how much funding you’re seeking and how you plan to use the capital. Investors look for confidence that their capital will be used efficiently, whether it’s for product development, marketing, or scaling operations.
  • Include Risk Management: Every business faces risks, and investors appreciate when entrepreneurs acknowledge this. Identify the key risks for your startup and explain how you plan to mitigate them. This demonstrates that you have a realistic and proactive approach to challenges.
  1. Deliver a Compelling and Confident Pitch

The way you present your pitch holds significance as the actual content. Confidence, clarity, and passion are essential for capturing the attention of investors and convincing them of your startup’s potential.

  • Practice Your Pitch: Rehearse your pitch multiple times before presenting it to investors. Be sure to speak with ease and confidence when delivering it, without relying too heavily on slides or notes.
  • Keep It Concise and Engaging: Investors often have limited time, so keep your pitch brief and to the point. Aim to cover the key elements within 10-15 minutes, allowing time for questions and discussion.
  • Show Passion and Enthusiasm: Investors want to see that you are passionate about your startup. Show genuine excitement about your vision and demonstrate that you have the drive to see it through.
  1. Prepare for Questions and Feedback

Investors will likely ask tough questions after your pitch. Being prepared for these questions shows that you have thoroughly considered your business and are ready to address potential concerns.

  • Anticipate Common Questions: Prepare to address inquiries regarding your financial forecasts, business model, competition, and scalability. Consider practising with a mentor or team member to refine your responses.
  • Listen to Feedback: Investors may offer constructive criticism or suggestions. Pay close attention and demonstrate your receptiveness to feedback, being prepared to adjust your approach if necessary.
  • Stay Calm and Confident: If faced with difficult questions, remain calm and composed. Investors are not only assessing your business but also your ability to handle pressure and respond professionally.
  1. Follow Up and Build Relationships

The process doesn’t end after your pitch. Maintaining communication and fostering connections with investors is essential for obtaining funding and creating pathways for future opportunities.

  • Send a Thank-You Note: Always send a follow-up email or note thanking the investor for their time and consideration. This shows professionalism and respect, helping to leave a positive impression.
  • Keep Investors Updated: Even if an investor doesn’t commit immediately, keep them informed about your startup’s progress. Regular updates can build trust. Keep your startup ahead in spotting chances for growth.
  • Build Long-Term Connections: Networking with investors, mentors, and industry experts is essential for growing your startup. Attend events, engage on social media, and mMake sure to look for chances to engage with people who can help your business grow.

By following these steps and crafting a well-structured pitch, you’ll be better positioned to attract investors and secure the funding needed to turn your startup into a thriving business.

2025,New,Year,Journey,And,Future,Vision,Concept,.,Businessman

The Essential Guide to Transforming Your Side Gig into a Full-Scale Enterprise

Turning a side hustle into a thriving business is the dream for many entrepreneurs. It requires careful planning, strategic action, and the ability to adapt as you grow. Here’s how you can successfully transform your side hustle into a full-scale business using key strategies and principles.

Define Your Vision and Set Clear Goals

Every successful business starts with a clear vision. Define what you want to achieve and establish both short-term and long-term goals. A solid vision acts as your roadmap, keeping you on track as you tackle the hurdles of expanding your side hustle. Establish quantifiable goals that are in harmony with your overarching vision, such as revenue targets, product launches, or market expansion.

Develop a Scalable Business Model

To transition from a side hustle to a full-scale business, you need to ensure that your business model is scalable. This means building a structure that can handle increased demand without sacrificing quality or efficiency. Look at how you deliver your products or services and consider how you can expand while maintaining profitability. Simplify your processes and ensure that systems like order fulfilment, customer service, and production can grow alongside your business.

Create a Strong Brand Identity

A memorable brand identity is crucial when scaling your business. It’s not just about a catchy logo; it’s about creating a brand that connects deeply with your intended audience. Your brand’s voice, values, and image should differentiate you from competitors. Take time to craft a strong brand story that connects with customers and clearly conveys what your business stands for. A consistent, professional brand identity will build trust and recognition as you grow.

Leverage Digital Marketing and Social Media

Digital marketing is one of the most effective tools for expanding your reach. A strong online presence enables you to interact directly with your audience, drive traffic to your website, and convert leads into customers. Use social media platforms, SEO, email marketing, and sponsored ads to market your products or services. Social media is particularly powerful for small businesses looking to create a loyal customer base. Consistently post relevant content, interact with your audience, and utilise tools like Facebook and Instagram ads to boost visibility.

Build a Solid Financial Plan

One of the main challenges when scaling a side hustle is managing finances. A well-thought-out financial plan will help you track your cash flow, manage expenses, and make informed decisions about growth. Set up a budget that covers operating costs, marketing, product development, and potential expansion. Make sure you have a clear pricing strategy and review your profit margins regularly. Additionally, consider seeking financial advice or working with an accountant to ensure you’re on the right track.

Outsource and Delegate Tasks

As your business grows, it’s crucial to concentrate on activities that actively drive growth while delegating other tasks. Outsourcing non-core functions such as accounting, website maintenance, or even customer service can free up your time for higher-level decision-making. By building a team or working with freelancers, you can scale your operations without burning out. Learning to delegate is crucial if you want your business to expand sustainably.

Develop a Strategic Marketing Plan

An all-encompassing marketing strategy is vital for fostering growth and entering new markets. Recognise your target audience and design strategies that effectively express your unique value proposition. Your marketing efforts should include a mix of digital and traditional approaches. Consider running targeted campaigns across social media, Google Ads, or even collaborating with various influencers in your niche. Consistently assess the effectiveness of your marketing initiatives and revise your approaches to make sure they reflect your objectives and resonate with the right audience.

Track Progress and Adapt

Regularly tracking your business’s performance allows you to identify what’s working and what isn’t. Use key performance indicators (KPIs) to measure sales growth, customer retention, marketing ROI, and operational efficiency. Business environments change, and so do consumer preferences, so be prepared to adjust your strategy. Whether it’s modifying your product offerings, tweaking your marketing approach, or changing your operations, being flexible will keep your business on the path to long-term success.

Conclusion

Growing a side hustle into a full-scale business is a process that requires clear vision, strategic planning, and adaptability. Track your progress, stay open to change, and don’t be afraid to outsource tasks as you expand. With the right approach, your side hustle can evolve into a successful, thriving business.

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Global Millionaire Magazine Proud to Sponsor The Grand Multicultural Entertainment Festival 2024

Sydney is gearing up for an event that promises to be one of the most exciting highlights of the year—the Grand Multicultural Entertainment Festival 2024! Global Millionaire magazine is delighted to be a proud sponsor of this vibrant celebration of culture, diversity, and community spirit.

Save the Date for a Spectacular Celebration!

Mark your calendars for Saturday, August 31, 2024! Head over to the Granville Centre (2a Memorial Drive, Granville, NSW) to immerse yourself in a day filled with vibrant performances, delicious food, and a celebration of cultures from around the globe. The Grand Multicultural Entertainment Festival is a family-friendly event designed to bring people together, highlighting the unique cultural tapestry that makes Australia so special.

Festival Highlights

This year’s festival promises a dynamic array of activities and showcases that will captivate attendees of all ages. Here’s a sneak peek at what’s in store:

  • Queens Grand Parade: Experience the splendour and majesty of the grand parade, where beauty queens and kings don regal costumes representing various pageant systems. Witness the grace and glamour as they take centre stage!
  • 2024 Cover Stars Parade: Cheer on the fabulous cover stars who have graced various magazine covers throughout 2024. This parade is a dazzling celebration of talent, style, and achievement in the entertainment industry.
  • Competitions Galore: The festival offers five exciting competitions that provide a platform for showcasing talent, creativity, and individuality:
    • Slay Queen International: A competition where transgender model hopefuls from across Australia showcase their talents and beauty in a celebration of diversity and self-expression.
    • Cover Model Quest: Divided into male, female, and kids sections, this competition searches for the next faces to grace the cover of StarCentral magazine.
    • Search for the Next Mr. Gino-o: An exciting competition for male models, looking for the next standout talent in fashion and modelling, and the next face of the Mr. Gino-o brand.
  • Displays and Food Stalls: Indulge in a variety of foods from different cultures and explore unique displays that highlight the rich diversity of the community. From mouth-watering dishes to vibrant cultural showcases, there is something for everyone to enjoy!

Embracing “Unity in Diversity”

The Grand Multicultural Entertainment Festival 2024 is not just an event; it’s a movement to bring individuals and families together, encouraging them to learn from each other and build connections. It’s an opportunity to break down social barriers and promote tolerance and harmony, perfectly aligning with the festival’s motto: “Unity in Diversity, Celebrating Cultures.”

Partners and Sponsors Making It Possible

This remarkable event is proudly brought to you by StarCentral Magazine, Flagcom Group, and RGEM Promotions & Management, organisations that are committed to promoting cultural diversity and fostering community engagement. Global Millionaire magazine is thrilled to join as a sponsor, contributing to the event’s success and impact.

Their esteemed other media partners include InLife International, MoneyCentral Magazine, TV6 Network, FilmCentral Magazine, TV1 News, Sassy & Co, Model & Mode, StarCentral Kids, and MS Entertainment. Their support ensures widespread coverage and participation, making this festival even more special.

Don’t Miss Out!

Join us at the Grand Multicultural Entertainment Festival 2024 and be part of an unforgettable celebration of culture, unity, and diversity. We look forward to seeing you there!

2025,New,Year,Journey,And,Future,Vision,Concept,.,Businessman

Boost Your Income: Top 10 Tips for a Profitable Side Hustle in 2024

Starting a side hustle can be a fantastic way to boost your income and achieve financial independence. To truly maximise your earnings, it’s crucial to employ strategic approaches. Here are ten effective strategies to help you make more money from your side hustle in 2024.

Identify High-Demand Niches

The first step to a successful side hustle is identifying niches that are in high demand. Conduct market research to pinpoint current trends and consumer needs. Look for market gaps that your unique offerings can fill. Targeting a high-demand niche increases your chances of attracting more customers and generating higher revenue.

Leverage Your Unique Skills

Your unique skills and expertise can set you apart from the competition. Determine what you excel at and how it can add value for others. Whether it’s graphic design, writing, coding, or any other skill, leveraging your strengths can help you offer superior services or products. This attracts more clients and allows you to charge premium rates.

Stay Updated with Industry Trends

Staying informed about industry trends is vital for maintaining competitiveness and relevance. To keep up-to-date, follow industry news, join professional groups, and attend webinars or conferences. Understanding the latest developments enables you to adapt your offerings, enhance your services, and stay ahead of the competition.

Outsource Non-Core Activities

As your side hustle grows, managing all aspects of the business on your own may become challenging. Outsourcing non-core activities such as administrative tasks, marketing, or customer support can free up your time to focus on what you do best. This not only improves efficiency but also helps you scale your business more effectively.

Create a Subscription Service

Offering a subscription service is a great way to generate recurring revenue. Whether it’s a monthly subscription box with curated products, access to exclusive content, or ongoing services, subscriptions provide a steady income stream. Additionally, they help build long-term customer relationships and increase customer lifetime value.

Implement Email Marketing Strategies

Email marketing is a powerful tool for engaging with your audience and boosting sales. Build an email list and regularly send out newsletters with valuable content, updates, and promotions. Personalised email campaigns can nurture leads, convert prospects into customers, and encourage repeat purchases, significantly increasing your earnings.

Offer Online Courses or Workshops

If you have expertise in a specific area, consider developing and selling online courses or workshops. This not only establishes you as an authority in your field but also opens up a new revenue stream. Platforms like Udemy, Teachable, and Skillshare make it easy to reach a global audience and monetise your knowledge.

Explore Passive Income Streams

Passive income streams can greatly enhance your earnings without requiring ongoing effort. Consider creating digital products such as e-books, printables, or software that can be sold repeatedly. Investing in various assets like real estate, stocks, or peer-to-peer lending can also generate ongoing income with minimal active involvement.

Host Webinars and Virtual Events

Hosting webinars and virtual events is an effective way to showcase your expertise, connect with your audience, and promote your products or services. You can charge an attendance fee, offer premium access to recordings, or use these events to upsell other products or services. Webinars also help build your brand and establish credibility in your niche.

Maximise Tax Deductions for Side Hustles

Understanding tax deductions related to your side hustle can save you a significant amount of money. Keep detailed records of all business expenses, including supplies, travel, marketing, and home office costs. Consult with a tax professional to ensure you’re taking advantage of all available deductions and credits, which can increase your net income.

By applying these strategies, you can realise the full potential of your side hustle and achieve greater financial success in 2024. Whether you’re just starting or looking to scale your existing venture, these tips will assist you in increasing your earnings and reaching your financial goals.

2025,New,Year,Journey,And,Future,Vision,Concept,.,Businessman

Indira Setia Putri Stuns as Cover Star and Runway Icon at Sydney’s Best Dressed 2024

Photo Credit: Henry Pham

Global Millionaire Magazine’s latest cover star, Indira Setia Putri, stole the spotlight at Sydney’s Best Dressed 2024, held last Sunday at 5 PM at the prestigious five-star venue Sir Stamford Plaza in Mascot. The event, produced by MS Entertainment Network in collaboration with StarCentral Media Group honours distinguished men and women for their outstanding achievements and contributions to the fashion industry.

Indira strutted her stuff on the runway in three breathtaking gowns that perfectly complemented her radiant smile and effortless grace. As cameras flashed and onlookers gasped in awe, it was clear that she was not just another attendee—she was the epitome of style and sophistication.

But her fashion prowess didn’t stop there. Throughout the evening, Indira captivated the audience with her impeccable taste and flair, donning yet another show-stopping gown designed by Aron Katona. The gown, a masterpiece of intricate detailing and luxurious fabric, further solidified Indira’s reputation as a fashion icon with an eye for elegance.

Beyond her stunning appearances on the red carpet, Indira was also featured prominently as one of the cover models for Sydney’s Best Dressed magazine. In addition to her role as a cover star, Indira Setia Putri played a pivotal role in the evening’s festivities by highlighting some of LARi Active’s latest collection. As the finalists of Sydney’s Best Dressed Model Of The Year competition strutted their stuff on the runway, they did so in pieces from LARi Active, carefully curated and styled by Indira herself. This collaboration not only highlighted her versatility in bridging high fashion with activewear but also demonstrated her commitment to supporting emerging designers and promoting sustainable fashion practices.

Sydney’s Best Dressed, founded by Maryrose Salubre, CEO of MS Entertainment Network, has become a cornerstone event in the Australian fashion calendar, known for its celebration of style, innovation, and creative expression. Indira’s presence at this year’s gala not only elevated the event’s prestige but also served as a testament to her influence and impact within the global fashion community.

As the evening unfolded, guests were treated to a spectacle of haute couture, with Indira Setia Putri at the heart of it all—a beacon of glamour and inspiration. Her ability to effortlessly embody different facets of fashion—from couture gowns to activewear—spoke volumes about her versatility and passion for pushing the boundaries of style.

Looking ahead, Indira Setia Putri remains committed to using her platform to advocate for sustainable fashion practices and empower aspiring designers to pursue their dreams. Her journey from cover star to runway sensation at Sydney’s Best Dressed 2024 serves as an inspiring reminder that passion, perseverance, and a keen eye for style can truly redefine the future of fashion.

Sydney’s Best Dressed continues to set the standard for excellence in the fashion industry, providing a platform for emerging talent while honouring established icons like Indira Setia Putri. As the event concluded, attendees departed with memories of a night filled with elegance, innovation, and the timeless allure of haute couture—leaving no doubt that Indira’s star will continue to rise in the fashion firmament.