• 3 Dangerous Entrepreneurial Myths You Need to Ignore

    This terrible advice won’t actually get you anywhere.

    We’ve all heard the numbers about how hard it is to build a long-lasting business. While there are many factors at play to get there, without effective marketing and sales a business cannot survive.

    Unfortunately, there is a multitude of dangerous and destructive marketing advice swirling around the heads of vulnerable entrepreneurs. Like vultures seeking their next meal, “gurus” pontificate nonsense that these hard-working business owners follow, only to discover that what they tried doesn’t work.

    Often, once the damage is done, it is too late for them to do anything else about it.

    If you want to not only survive, but thrive, here is some of the terrible advice you need to start ignoring:

    1. “You need to be everywhere.”

    I’m sorry, but how do these people sleep at night without the use of narcotics? “Experts” spew out dribble to make headlines saying you need to get on Snapchat, get on Periscope, do YouTube Live . . . be everywhere! They’ll say you need to get on this platform or that social media network. Oh, and use LinkedIn Live! And make sure to post on Instagram three times a day and Facebook twice a day. And don’t forget those Facebook Lives. Make sure to do them every day.

    ACK! Just writing that paragraph stressed me out. How the heck are you supposed to be on all of those channels, never mind doing it all effectively, and still run your business? Of course you can’t. And you shouldn’t. (Unless self-torture is your thing, in which case have at it. There are books about that, but I’m not giving any titles because I’d have to Google them and then I’d be retargeted by the ads and that would just be gross.)

    It is impossible to spend even half an hour on each major network and still get any work done. Forget about focusing on measurement, profit and return on investment. They don’t mention that on purpose, because then these crazy-pants suggestions would really make no sense. But, then these “experts” would stop making the headlines, so they keep serving up spoiled advice for the poor folk who chow down and then get sick on it.

    Don’t allow yourself to fall victim to their plots of deception. Demand strategies that value your time and produce results in a significant and measurable way quickly.

    2. “It takes money to make money.”

    I didn’t take the easy way out. I am part of a group of scrappy entrepreneurs who have a lot of hustle and heart and little/no/negative funds. I didn’t come from family money, and the big banks certainly weren’t lending to businesses like mine. The only way I was going to get a big pile of cash was if I won the lottery. And since I’ve only played about four times in the last decade, the chances of that happening were slim. What I had to find was the same thing you most likely want — a solution to predictably bring in customers when there is no marketing budget to play with.

    3. The Schmo-bags.

    The worst are who I call the “Ferrari Marketers.” They rent a sportscar for an hour or two, hang out in front of it and then sell us shiny object strategies that they haven’t even used in their own business.

    They are abhorrent, hideous and dangerous. Not only are they crooks stealing the money of the people who are seeking a solution from them, but they may prevent really talented people who have a gift/service/product/offer to share that can help someone else from ever reaching them.

    Did I mention they suck?

    But, once you discover a game-changing system, you are responsible for implementing it. You can’t be distracted by shiny objects any longer.

    As Jack Welch says, “Good business leaders create a vision, articulate the vision, passionately own the vision and relentlessly drive it to completion.”

    Don’t allow yourself to be enticed or distracted by fads or the “latest and greatest/not greatest” new social media strategy, channel or tactic.

    Once you uncover how to truly get results, be strong-willed and stubborn. Repel any idea, strategy or initiative that requires you to keep spending money to make money. If you keep throwing dollars and time at a goal, hoping and wishing that it will work, yet not tracking or measuring the results and scaling accordingly, then you cannot expect results.

    Start measuring, tracking and demanding results from your time and money, rising above others and landing in the successful minority that thrives instead of survives.

    Source: entrepreneur.com

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  • The Big Reason Why You Should Hire Highly Educated Employees

    They are more likely to detect patterns and speak up if something seems amiss.

    When you’re looking to hire, you’re thinking about cultural fit and whether a candidate has not only the qualifications to fulfill your company’s needs now, but also the potential to take on more responsibility in the future.

    Despite the debate around whether leaders need college degrees, a recent study out of the University of Georgia found that the educational background of non-executive hires can make a big difference in the long term success of your business — and keep you out of trouble with the law.

    Researchers found that when it comes to handling sensitive financial data, employees who have the most extensive educational backgrounds are best at forecasting trends and dealing with legal matters.

    “We find that when companies are located in a place where the workforce is highly educated, they produce better accounting information,” said study co-author John Campbell, an associate professor of accounting in UGA’s Terry College of Business, in a summary of the findings. “The employees don’t have to be experts in accounting, but if they see something that doesn’t look right, they’re more likely to say something about it and tell their superiors about it.”

    As your business expands, you need to be on top of your books, and non-executive employees often are the first line of defense for finding errors in your accounting. Building off that observation, the researchers also identified a correlation between educated populations and fewer instances of misconduct in both business and politics.

    “There’s a study in political science showing that states that have more educated voter bases have less corruption in their political systems, and we wanted to see if that analogy held in business,” Campbell said. “One of the reasons for that might be whistleblowers. In both instances, the better-educated the population is, the more likely there will be a whistleblower if something bad is going on.”

    Source: entrepreneur.com

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  • Everyone Talks About Living Their Best Life. How do You Actually do it?

    Living your dream life requires grappling with a lot of cold reality.

    What does the life of your dreams look like? Are you exploring the world and working from your laptop? Are you hanging out with celebrities at award shows? Are you at home spending time with your kids every day?

    It’s possible to engineer the lifestyle you want. You might not get every aspect of it, but don’t confuse having everything in life with having the lifestyle of your dreams. You don’t have to earn billions of dollars to have it. You don’t need to come from the right pedigree. (I know I didn’t.)

    However, for this life-engineering to work for you — you will need to put effort into the process. Understand this: It will likely take several years to accomplish the planning stage of these goals. What else will it take to engineer the lifestyle of your dreams? Here are some tips to get you started.

    1. Clarity.

    What is it that you actually want? You don’t need to construct a vision board, just be honest with yourself. How much money will it take until you feel accomplished? What experiences do you want to have? Write it down if it helps you put it into focus.

    Dr. Gail Matthews, a psychology professor at Dominican University of California, conducted a study, and found that people who wrote down their goals on a regular basis were 42 percent more likely to achieve them.

    When envisioning what you want, don’t confuse lifestyle with assets. You can drive a Maserati every day without ever owning one-if that’s what you want. In other words, you can experience the lifestyle without the large price tag.

    2. Time and effort.

    There is this odd expectation that people can quit their jobs, launch a business and become overnight millionaires. Achieving anything extraordinary takes time.

    Building a business or becoming an industry expert can easily take seven to ten years. You will likely spend several years experiencing incremental changes and iterating on these changes before you have a quantum leap.

    Most successful people spend countless hours working and training to reach their goals. If you’re not willing to clock in the time, then you shouldn’t expect results.

    3. Network.

    A mantra that has been highly influential to my own lifestyle engineering is: “The quality of our lives is defined by the people we surround ourselves with and the conversations we have with them.”

    In order to create the lifestyle that you dream of, you need to surround yourself with positive people that push and encourage you. Research by Nicholas Christakis and James Fowler found that our network-friends, colleagues, and family-influence our life.

    Behaviors and emotions can be passed from person to person, even if it is a friend of a friend that you’ve never met. Your network has the power to influence everything from voting habits, obesity, divorce and even happiness, so choose your connections wisely.

    Connect with key people. If you’re an entrepreneur, you need to meet investors, potential clients and press years before you need their help. If your dream is to be a digital nomad and travel blogger, you need to develop connections with those in the industry to find out what separates the successful people from the wannabes.

    When it comes to success and career, it is important to also have a diverse network that is made up of both strong ties (loved ones) and weak ties (acquaintances). According to research by Mark Granovetter, people are 58 percent more likely to get a job through a weak tie.

    4. Continuous improvement.

    Psychology Mihaly Csikszentmihalyi studied what top achievers and successful people have in common. He found that most are able to enter a state of peak human performance, otherwise known as flow state.  Csikszentmihalyi claims that the key to happiness and success is flow, and to enter this flow state, you need to do something that is just outside of your skillset.

    If it is too difficult, you’re setting yourself up for failure. If it’s too easy, you’ll lose interest. Take on projects and work that you have the skills to handle, but that challenge you in new and exciting ways.

    Most importantly, be patient. You don’t need to fulfill your goals as quickly as possible. Instead, always have something that you are striving towards. Continual improvement is more realistic and rewarding than sudden success or stagnation.

    Designing your dream life takes patience, hard work and drive. You can expect to put in a significant amount of effort that yields little to no results in the beginning. However, don’t give up. Eventually, all your hard work will pay off.

    Source: entrepreneur.com

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  • 10 Ventures Young Entrepreneurs Can Start for Cheap or Free

    Don’t be discouraged. You can afford to leave the 9-to-5 rat race.

    If you’re a young entrepreneur who’s sick of the 9-to-5 rat race, you should start thinking out of the box. You need to find an idea that will allow you to start your own business so that you can choose your hours and even your salary. It’s important to ensure that it doesn’t cost you a small fortune to get started.

    With this in mind, I’ve created a list of 10 business ventures for young entrepreneurs that can either be started for free or cheaply.

    1. Chatbot-creating agency.

    Chatbots are in, and businesses of all sizes are adopting them as part of their marketing, sales, and customer services teams. These bots allow businesses to cut costs while increasing revenue. What many of them don’t know is that creating a chatbot isn’t as difficult as it once was.

    Now, thanks to platforms like Chattypeople, you can create an enterprise-grade chatbot powered by artificial intelligence (AI) and natural language processing (NLP) in a matter of minutes with absolutely no coding or programming knowledge.

    With the above in mind, creating a chatbot-building agency is easier than ever. You could create a Chattypeople account for free and offer your services to companies of all sizes. Best of all, as your agency grows, you can upgrade your account and, of course, increase your prices.

    2. Online retail consigner.

    If you have a camera, a computer and a real passion for fashion, you can incorporate them and start your own online business. Start by gathering all the old clothes you’ve hoarded over the years and no longer wear, and take professional pictures of them.

    You could either post your items on eBay or create your own personal store through Shopify or WordPress. The earning opportunities with this type business venture are endless, and best of all, you don’t have to limit yourself to just clothes. You could also sell vintage furniture, children’s accessories, garden equipment, and much more.

    3. Instagram consultant.

    Instagram is one of, if not the most popular, social media channels alongside Facebook and Twitter. Many companies are now opting for a visual social media presence, meaning they invest a more time into the likes of Instagram and Pinterest rather than being social on Facebook and Twitter.

    However, creating an Instagram following isn’t as easy as it seems, and if you’re a business, you’ll want to gather a following quickly. This is why these businesses hire Instagram consultants to do everything for them. With that in mind, if you love Instagram, have a smartphone, have a solid following, and do some basic marketing, you could quite easily become an Instagram consultant without making a huge monetary investment.

    4. Copywriting and editing services.

    You don’t need to have a formal education to become a copywriter or editor. In fact, you really don’t need anything apart from a computer. That said, to get higher paying clients, you need motivation, perseverance, and the right support system.

    If you can get your current clients to write testimonials highlighting your skills, you’ll likely see new customers rolling in. Once you’ve developed a client base, you’ll notice they frequently need new content written, and you can also start charging more.

    5. Blogging or vlogging

    If you have a specific skill set or are an expert in a particular industry, why not teach others? Blogging is a great way to share information with people. While you may not see how you can make money from giving people free advice, the opportunities are actually endless. You first need to increase your visitor numbers and gather a loyal following. Once you have, you can sell advertising space to companies as well as enroll in programs like Google AdSense.

    In addition to the above, you can create e-books or printed copies and sell them on your blog and through platforms like Amazon. Plus, if writing isn’t your thing, worry not. You can do all the above through video instead of written format. All you need is a computer, webcam or camera, and a website.

    6. Business and life coach.

    If you’re more of an introvert, you’re probably quieter, with a calmer demeanor, and possess a tendency to think before you speak or act. If this is the case, you should consider a career in consulting. Your ability to internalize events and listen means that you have all the skills needed to become a business or life coach.

    While you aren’t required by law to complete life coach training, you can do so if you want to have a certification to show clients. If you choose to not do the course, the overheads from being a life coach are little to none, and you can perfom consultations on the phone or online.

    7. Graphic designer.

    If you’re creative, have a computer, and know how to use design software, freelance graphic design can be an awesome way to make a living. Digital businesses are on the rise, and with that comes a higher demand for logos, website design, and other marketing materials.

    If you have the creative flair, but don’t have the experience with design software, you can either enroll in a short online course which is normally quite cheap or you can teach yourself. Many graphic designers are self-taught; you just need patience and time to get started.

    8. College application advisor.

     

    Similar to with being a life or business coach, college application advisors are good at offering one-on-one advice that’s personal to every client. If you believe you can offer thoughtful advice, have strong organizational skills, and want to help young adults take the next steps in their careers, you could offer your services as a college application advisor. All you need is a computer, a love for research, and an understanding of the educational system.

    9. Tutoring

    Tutoring is a job you could do completely online. You just need a computer, a website to market yourself, and a specific set of skills that you can offer to people. For example, if you’re a math guru, know another language, or have a college degree, you could teach students via Skype or over the phone. Aside from being virtually free to get started, you’ll be able to charge up to $100 an hour depending on the student’s needs.

    10. Photographer

    Photography is something that many people regard as their hobby, but in actual fact, it can become quite a lucrative career choice. If you already have a camera and your friends often ask you to take pictures at their events, it’s likely you have what it takes to turn your hobby into your career.

    To get started, create a website and upload a portfolio of your best photography along with your contact information. If you want to take it one step further, get some help with your marketing…you’ll find customers queueing at your door to pay for your services.

    Finally…

    Starting your own business can be challenging, but with some motivation, perseverance, and a bit of business sense, you’ll be able to not only choose a career path that you love, but also do it without spending a fortune. Choose one of the options mentioned above to get started, and remember to network as much as possible to stay current with your industry’s latest trends.

    Source: entrepreneur.com

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  • Startup Accelerators Aren’t Banking on Exits Any More

    Accelerators are increasingly selling a range of services to generate ongoing revenue, without waiting years for startups to be sold.

    Within only a decade, accelerators have become a mainstay of startup ecosystems in regions around the globe. Throughout this period, the accelerator business model has continued to evolve. Still in the Global Accelerator Report 2015, a majority of accelerators globally still indicated that they intended to follow the traditional “cash-for-equity” model, first established in 2005 by Y Combinator, which involves investing a small amount of seed money in a startup in exhange for equity. Investments typically are around $25,000 on averag in exchange for between 5 percent and 10 percent equity.

    This model has now been abandoned by a majority of accelerators, as highlighted by the recently published Global Accelerator Report 2016. The report highlighted that only 32.7 percent of accelerators predict that they will generate revenue from exits in the future, a significant shift from 2015.

    The reason for the pivot in the accelerator business model is, most likely, the small number of exits — 178 reported in 2016 — which has proven insufficient in funding their operations. Morevoer, exits usually do not occur earlier than three to five years into a startup’s lifecycle, denying accelerators a profit on investment for several years. To make up for the expensive day-to-day upfront costs of operating their programs, accelerators have deployed new models that allow them to generate revenue.

    These changes enabled the industry to keep growing year-on-year. According to new findings in the 2016 Global Accelerator report more than $206M (up 8 percent) was invested into 11,305 (up 28 percent) startups across five major regions, including the United States and Canada, Latin America, Europe, the Middle East, and Asia and Oceania. USA continues to be the leading country both in terms of startups accelerators and in dollars invested via accelerators.

    Nearly all (90.4 percent) of accelerators globally relied on, and continue to explore, new models of revenue generation. These include charging for mentorship, subletting office space, hosting events and working with corporations. Revenue from corporations has seen the largest increase. More than half (52.1 percent) of accelerators are at least partially funded by a corporation, and 67.2 percent aim to generate future revenue from services sold to corporations.

    On the one hand, this is because corporations are discovering that accelerators are an efficient and effective way to engage with startups. On the other hand, accelerators understand that corporations can help them fund operations in the short-to-medium term (exits are often far out). They improve the prospects of their portfolio companies that can potentially sell to, raise funds from, or be acquired by these corporations.

    Corporate revenue generated by accelerators came from two main sources in 2016: corporate partnerships, generally in the form of a white-labeled or jointly-run acceleration program created by the accelerator on behalf of the corporation, and corporate sponsorship packages sold by accelerators.

    It is clear that accelerators have changed their operating model globally in a significant way over the last few years. The accelerator model whilst still aligned with its predecessor’s original vision of nurturing disruptive companies – is different in a number of ways. These new accelerators possess a diversified revenue model, often focus on a specific vertical and work closely with corporations. In the coming years and beyond, it will be interesting to see what new pivots the global accelerator industry will undergo in an attempt to achieve sustainability and less reliant on government grants and private funding.

    Source: entrepreneur.com

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  • The Most Powerful Brands in Franchising

    Here are the strongest brands in franchising for 2017, ranked.

    There are many ways to measure the strength of a franchise. How many units does it have? What are its financials? Its growth? How well does it support its franchisees? But this month, for the first time ever, Entrepreneur is zeroing in on a factor that’s challenging to measure, easily overlooked and yet critical to the health of any business: branding.

    We wanted to know: Which franchises have done the best job of building themselves up as beloved, recognizable, robust brands? We did this by analyzing factors such as social media followers, system size, number of years in business, number of years franchising and overall reputation — and looking at how they all combine to form lasting relationships with fans.

    Our list shows that great brands are a paradox. Longevity and consistency matter, but only if a brand also constantly evolves. A prime example is KFC, which tops our list. On the following pages, you can see how its recent “Re-Colonelization” efforts have paid off, and learn how other top franchise brands stay fresh while maintaining their already strong foundations.

    Please keep in mind that this list is not intended as a recommendation of any particular company. A vibrant brand is just one of many elements to consider when buying a franchise; it’s critical that you do due diligence before investing in any opportunity. Read the company’s legal documents, consult with an attorney and an accountant and talk to as many existing and former franchisees as you can.

    To learn who made the cut, check out our list of The Most Powerful Brands in Franchising.

     

    Source: entrepreneur.com

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  • Dustin Mathews’ Top 5 Must-Have Business Books

    See what the co-author of ‘No B.S. Guide to Powerful Presentations’ thinks you should read to succeed in business.

    Entrepreneur Reads is a series designed to bring our readers the best books to motivate you on your entrepreneurial journey. We’ve asked public speaking expert and Entrepreneur Press author Dustin Mathews for his top 5 book recommendations for entrepreneurs like you.

    “My favorite book of all time is experience.” —Noah Kagan, founder of AppSumo

    I couldn’t agree more with Kagan.

    Nothing takes the place of doing in the real world, and there are key books that every entrepreneur should have in their library. Let’s take a look at five must-have business books.

    1. How to Win Friends & Influence People by Dale Carnegie

    How can you go wrong with one of the bestselling self-help books of all time? With over 30 million copies sold, this “oldie but goodie” shows you how to make lasting relationships in business and life.

    In our ever-expanding, high-tech world of gadgetry and automation, this book serves as a great reminder that success in business comes back to relationships — with people. Whether it’s prospects, partners or team members, you’ll need to win them all over at some point in your travels. Look for the six ways to make people like you and the twelve ways to win people to your way of thinking.

    2. Think & Grow Rich by Napoleon Hill

    If Warren Buffet, Bill Gates, Richard Branson and Mark Zuckerberg were all interviewed today about success and we put their answers into a book it would be essentially what Think & Grow Rich was at the time. Napoleon Hill interviewed the titans of business of the day — Henry Ford, Andrew Carnegie and Thomas Edison — to deliver us the entrepreneur’s mental mindset handbook.

    Richard Branson said, “Tough times are inevitable in life and in business. But, how you compose yourself during those times defines your spirit and will define your future.” No doubt, the road of an entrepreneur is long, winding and daunting. It’s Hill that reminds us how to get anything we desire in business with the right mindset. Be sure to look for the “Power of the Mastermind.”

    3. The Ultimate Sales Letter by Dan S. Kennedy

    Every communication in business needs to sell. Whether it’s an email to an employee, conversation with a partner or phone call to prospects, customers and clients, influencing is critical for getting it done.

    The challenge is most people don’t think in these terms. In one of Dan Kennedy’s first works, he lays out the formula for writing a message that sells. Essentially, he’d prefer all business owners be world-class copywriters, however he understands they don’t have the time nor the patience. So, inside the book he’s provided simple, yet proven formulas, case studies, examples and resources for hacking your way to a letter that closes the deal, every time.

    Words matter. Are you making yours count?

    4. Never Eat Alone by Keith Ferrazzi

    It bears repeating: You won’t get far in business if you can’t make solid relationships with others. Keith Ferrazzi shows us that we can get anywhere in life and business by connecting and creating powerful relationships.

    My big takeaway from the book is to keep in check the balance of helping others without expecting to ask for something in return. Of course, this can be tricky if you find yourself in the wrong crowd or in front of a “taker,” but the philosophy is one that resonates today. Look for “Connecting with Connectors,” as this can be an extremely beneficial concept in terms of creating speed and finding the right connections to help you on your path.

    5. The Ultimate Sales Machine by Chet Holmes

    If you need to make it rain, look no further. Really, The Ultimate Sales Machine is a combination of sales, marketing, time management and mindset or, as Chet Holmes, calls it “pig-headed discipline” all packed into one resource.

    One of the more unique (and daring) ideas from the book I’ve put into action for myself is showing up at a tradeshow with a theme. In the book, Holmes discusses working with a client, having them dress up in Hawaiian outfits, theming the booth with a beach backdrop and making it fun for the team and most certainly for attendees.

    Following suit, we decided on a doctors theme, bought lab coats with stethoscopes and put pill bottles in the conference bag. Doing so, we most certainly were the talk of the convention, garnered a lot of attention and generated a good number of sales.  We even noticed non-attendees in the lobby, double taking, as they were curious as to know what we were doing.

    Be sure to look for the Holmes’s classified ad for attracting the right kind of sales people, “superstars.”

     

    Source: entrepreneur.com

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  • Has Your Business Stopped Growing? Here’s How to Turn Things Around.

    There are four big reasons businesses stall out. It happened to me.

    Has your business ever stalled out and simply stopped growing?

    It happened to me. Early on in my career as an entrepreneur, I couldn’t figure out why everything stalled. But lucky for me, I didn’t quit there. I kept working, changed my business, and now — having worked with thousands of business owners — I have discovered that the primary reasons a business stops growing tend to land into a handful of categories.

    1. Lack of opportunity

    Some businesses just aren’t made to scale up. When I first started in the dry-cleaning delivery niche, I didn’t understand this simple fact: Business in my little area was never going to be a million-dollar business, let alone a multimillion-dollar business, no matter how hard I worked. Make sure you aren’t trying to win the Super Bowl with a peewee football team.

    On a side note, when I make this argument, sometimes people argue the point. For example, they may tell me I could have expanded into other areas or franchised. Of course, I’m not saying there aren’t ways to scale a business, but some businesses are simply easier and less risky to scale than others. If you are in an industry that is challenging to scale, one where your risk of failure is super high, it may be a good idea to start looking into other opportunities.

    2. Boredom

    It’s amazing how many of us get bored. We get bored with our marketing, with our product, with our niche. Our boredom causes us to cancel marketing, taking our eye off the main business to focus on some new exciting startup we want to work on.

    Want to sell and jump into a new exciting niche where every prospect only says yes and sales come easily? I get it. I’m not immune to those feelings. But, making changes because we are bored is insanity! If you have an ATM machine that spits out hundred-dollar bills, why would you try to rewire it? This is what people do with their marketing or when they take focus off the main cash cow business. I can’t tell you how many times I’ve heard someone say they are stopping what’s working because they want to try something new. It’s just crazy.

    3. People

    If you read the crap that comes from some marketers, you’d think that everyone was making money easily, using only the internet with no problems, no skills and no employees. While I do know people I could describe that way who are making money, this is the exception and not the rule. It would be like me pointing to a group of billionaires and selling thousands of products with the premise being: “Just buy this product and you too can be a billionaire.”

    In almost all businesses it takes employees (or at least outsourced labor) to grow. If you’ve stalled, it may be because you need to invest in another employee or two to kick-start the growth. I get it, when you invest in employees, payroll is bloated, short-term profits go down, and it is risky. But guess what? You’re a business owner — that’s the job. And 99.99 percent of businesses need employees to make money.

    4. Too externally focused

    As I write this, I’m in the middle of planning next year’s marketing strategy. I will have a number of new and exciting items on the list (external stuff), but one of the most interesting numbers I’m working on is a plan for our sales call conversion rate. With no increases in the number of calls next year, a 5 percent increase in conversion would equal an additional $1.152 milion in annual revenue. That is an internal number worth focusing on.

    I’ll also be looking at how to reduce customer churn, improve employee performance and increase referrals. Just focusing on internalopportunities, we have the potential to add millions in new revenue and/or cost reductions due to improved performance, which leads to increased margins. If you’re not thinking about ways to work on these internal opportunities, you’re leaving tons of new revenue and profit on the table.

    Growing a business isn’t easy, but it is pretty simple, assuming you have opportunity in the current business model. You just have to be willing to invest. Invest in yourself (your business education), and invest in your company by hiring the right people, focusing on improving your systems and process.

    We’ve talked about why businesses stop growing, and the first two points looked at those reasons, but the last two points could easily be turned around and used as the start of a growth strategy.

    • Who should you hire right now?
    • What internal challenges could you fix that would have an increase on profits?
    • Can you do a better job converting prospects into customers?
    • How are you doing on upsells?
    • What about referrals?
    • Do your customers know who you are, what you do, and that you’re still in business? If not, how are you going to change that?
    • What is the communication strategy for both prospects and customers?

    I could go on, but you get the point.

    The decision to grow (or not grow) is yours; you’re armed with the information. Now you just need to take action.

     

    Source: entrepreneur.com

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  • Success Requires Knowing What You Won’t Compromise

    Flexibility and tolerance are important but know what you won’t bend on is crucial.

    People always ask we: “What are the keys to success in life and business?”

    I could talk for hours on the subject — particularly about what’s worked for me. But, truth is, all successful people answer a bit differently. That’s why, when I meet people like Elizabeth Weil, a dedicated distance runner and one of the most successful women in the venture capital field, I ask them the same question. I want to learn from them.

    Exercise

    As a child, Weil watched her mother take up running and swimming as therapy for a divorce. She’d wake up before dawn to get in a good swim or run — every day, no matter what. Morning exercise was non-negotiable. “She was out the door every morning around 4, because she knew that time of day was not going to be compromised by work or family or anything else,” Weil says today. “She could always get her workout in.”

    Today, Weil treats her run with the same reverence—even with three kids (including infant twins) and an incredibly demanding career. “For me,” she says, “running is a non-negotiable. Every job, every vacation, every business trip, I have my running shoes and I make time for it. Usually I get up very early, like my mother, and I just get it done. I feed one baby, I feed the other baby, and then I get out the door.”

    This doesn’t mean that life doesn’t occasionally happen in unexpected ways. “Things do come up, but I still get my running in.”

    It probably helps that Weil surrounds herself with like-minded people. “My husband is also an ultra-runner,” she says. “We joke that if going out to brunch was a non-negotiable, our relationship probably wouldn’t work.”

    The “how-to” of Weil’s success.

    When I asked Weil to boil her success down to a few takeaways, she answers immediately, which tells me that I’m talking to a person with a clear and well-defined plan for success. With Weil, these four elements underlie everything else:

    1. Create time for non-negotiables. “Along with my daily run,” she says, “another non-negotiable is spending time with my family, which is a lot harder now that I have three kids instead of just one.”
    2. Work with people you like. “Great people empower you and make you a better person,” she says.
    3. Live and work in a great location. “Life is too short to be in a place where you can’t do the things you like to do,” she says.
    4. Have a personal advisory board. “Fill it with people from all aspects of your life—an old college professor, an old colleague, your best friend, just people who know you really well,” she says. “You can check in with them and use them as part of your gut check as you go through life.”

    Work with great people.

    Working with great people, in a great location, and carving out time for non-negotiables are also parts of my long-standing recipe for success. However, Weil’s fourth element—having a personal advisory board—is a new one for me, and I’m going to put that into practice.

    Be a “people” person.

    Weil also talks about the fact that success in business is about more than just working your butt off. Admittedly, you need to work really, really hard in the job you’ve got if you want people to respect you and give you better opportunities. But you also need to be a people person.

    “I learned this the hard way because I didn’t make time for people when I was at Twitter,” she says. “I was so busy with my job there that I didn’t make connections for my next job. I tell people now, ‘When you pop up for your next job, you’ll wish you had gotten to know more people.’

    You won’t get a job just by uploading your résumé.

    You almost never get a job by uploading your résumé to a blind website. Jobs come from people you know, word of mouth, so you need to be good at your job and to also foster relationships.”

    The simple truth is that very few women are high-level decision makers at venture capital firms. Weil is one of only a handful. But it doesn’t surprise me at all that she has made it to the top when so many others haven’t, because she learned how to be successful early on from her mom.

    A life, business, and parenting tool.

    Another thing I take away from my conversation with Weil: Our kids watch us and they learn from what we do. We owe them the extra effort. My kids watch me with my non-negotiables, which for me are health and wellness and with the effort I put into my business and family.

    My kids learn what it takes to succeed without me sitting them down and lecturing them. I live the lesson, and that is a pretty awesome parenting tool.

    Source: entrepreneur.com

    Call, text, email, or stop by our Los Angeles HQ today!
    Helvetia Holdings Group, LLC
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  • This Doctor Who Lived to 105 Believed That for a Long Life, You Shouldn’t Retire

    Dr. Shigeaki Hinohara believed that work was key for longevity.

    To live a long life, work forever. At least, that’s what one of Japan’s leading doctors believed — and he was his own proof.

    Before his death on July 18, 105-year-old Dr. Shigeaki Hinohara was a practicing physician, a chairman of St. Luke’s International University and the honorary president of St. Luke’s International Hospital. Up until a few months before his death, Hinohara was active in the medical community — treating patients, taking new appointments and working up to 18 hours a day.

    Often credited as a major contributor to the foundations of Japanese medicine and in positioning Japan as a world leader in life expectancy, Hinohara held a number of beliefs for healthy living and longevity. And one of his main ones was: “Don’t retire. And if you must, retire much later than age 65,” he told the Japan Times.

    Maybe we should listen to the wise words of Hinohara, who believed that because the average life expectancy of Japanese people reached 84 years as of 2015, then the retirement age should be pushed back too, because work is what helps keep people going. At least that was the case for Hinohara, whose career, in a way, kept him living.

    Janit Kawaguchi, a Japan Times journalist who considered Hinohara a mentor, said, “He believed that life is all about contribution, so he had this incredible drive to help people, to wake up early in the morning and do something wonderful for other people. This is what was driving him and what kept him living.”

    On top of working for as long as possible, Hinohara also preached other guidelines for a long life, including having fun, always taking the stairs, asking your doctor questions and unsurprisingly, not being overweight.

     

    Source: entrepreneur.com

    Call, text, email, or stop by our Los Angeles HQ today!
    Helvetia Holdings Group, LLC
    Wells Fargo (HQ) Building
    11601 Wilshire Blvd. 5th Floor
    Los Angeles, CA, 90025
    United States of America

    Phone: +1.310.800.2197
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