Category: Uncategorized

So, You Want To Be An Entrepreneur?

So you think you have what it takes to be an entrepreneur? This blog post will ask some tough questions that will test how ready you are to be an entrepreneur.

 

So you think you have what it takes to be an entrepreneur? This blog post will ask some tough questions that will test how ready you are to be an entrepreneur.

 

 

Entrepreneurship is traditionally defined as the individual who pursues opportunity without regard to the resources currently controlled. That definition is vague and doesn’t even cover 1% of what entrepreneurship is about.

 

 

Here is the ultimate test to see if you’re ready to become an entrepreneur:

 

 

How risky are you willing to get?

 

Entrepreneurs take risks. Whether they are financial, physical, or career risks, they are generally big risks. Before you venture into entrepreneurship, you need to be willing to take risks as they come.

 

 

Do you have thick skin?

 

Entrepreneurship isn’t for people who are soft. You will get your ass kicked repeatedly. Entrepreneurs need thick skin to get past what people say. Not only that, but you need to accept the fact that you will not succeed immediately. Are you willing to bounce back until you do succeed?

 

 

Can you live without your lifestyle for a while?

 

Successful entrepreneurs have a great life. However, entrepreneurs who are still working towards their own success don’t have it so easy. Entrepreneurship is about putting in long hours, sleeping less, and doing whatever it takes to succeed. Chances are, you won’t be able to live the same lifestyle when you jump into entrepreneurship.

 

 

Forget about vacations……

 

Any entrepreneur looking to take a vacation in the early-going won’t get very far. Entrepreneurs cannot afford to take vacations especially when they are just starting out. Your one and only focus in life needs to be the business you are creating.

 

 

Is your significant other on board?

 

Entrepreneurs have to make stiff commitments to their projects. One thing that is often overlooked is how big of a commitment your significant other must give as well. Success doesn’t come easy. If your significant other isn’t on board with you starting a new business, you may seriously need to reconsider your options.

 

 

Are you just a honeymooner?

 

Honeymooner’s in business are individuals who love one aspect of a business. Most often, it’s creating the website or idea for your business. However, entrepreneurs need to be in love with every aspect of their business. If you just like one part of the business process, you may be better off joining another startup.

 

 

Can you go with the flow?

 

Entrepreneurs don’t often have the answer to every question. Entrepreneurs have the uncanny ability of worrying less and going with the flow. They are quick to understand when change is imminent, but they can also go forth without worrying about things.

 

 

Are you self-motivated?

 

Entrepreneurs need to be motivated by themselves. This isn’t a classroom setting where your teachers and peers will push you to get good grades. Life is your classroom and you are your own teacher. You need to motivate yourself and find ways to stay focused even when the going gets tough.

 

 

Can you work without a paycheck?

 

Entrepreneurs do not get paid by the hour. They do a ton of work and sometimes don’t get paid anything for it. As an entrepreneur, you have to be willing to accept the fact that you will no longer be getting paid a “fixed” salary and your success is dependent on you.

 

 

Do you work well with others?

 

Entrepreneurs have to work well with others. Whether it’s the team you bring on to execute your ideas or sales pitches to customers, you are constantly around people. Entrepreneurs are great with people and have the ability to leverage everything around them.

 

 

Conclusion

 

This blog article is not to scare people away from entrepreneurship, but rather identify the key components of becoming an entrepreneur. Remember, nothing worthwhile in life is ever easy.

 

 

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5 Things I Learned About Decision Making The Hard Way

As an entrepreneur, making decisions is something you will run across frequently. I quickly learned that successful entrepreneurs are great at making decisions. As I have gone through the different stages of entrepreneurship, I haven’t always been the best decision maker. The way you make decisions in entrepreneurship varies greatly from the way you make decisions in real life. Making the right decisions can save you tons of money, time, and even further your growth. Here are 5 things I learned about decision making the hard way.

 

As an entrepreneur, making decisions is something you will run across frequently. I quickly learned that successful entrepreneurs are great at making decisions.

 

 

As I have gone through the different stages of entrepreneurship, I haven’t always been the best decision maker. The way you make decisions in entrepreneurship varies greatly from the way you make decisions in real life.

 

 

Making the right decisions can save you tons of money, time, and even further your growth.  Here are 5 things I learned about decision making the hard way:

 

 

1. I’m Almost Always Wrong

 

When it’s time to make decisions, many entrepreneurs fall prey to the same mistakes I did. They have a big decision on their plate and they make the decision based on what they feel is best.

 

 

Every time I did that, I somehow ended up being WRONG. No matter what the decision may be, one person should NOT be making it.

 

 

If it’s decisions about what to price your product as or how to design your website, ask your customers (the people who matter). If it’s decisions about business operations; ask partners, employees, or other successful people who have experience.

 

 

2. Things Change Very Fast

 

Decision makers can never be fixated on one idea or decision. When I first started out, I was pretty stubborn. I often made decisions and said that I will stick with it no matter what.

 

 

However, things change really fast in entrepreneurship. The best decision makers are the ones who understand their decision is the best choice now, but may not be the best choice tomorrow.

 

 

Decision makers need to be willing to pivot very quickly. Making the right change at the right time can be the difference between success and failure.

 

 

3. Self-Sacrifice is Inevitable

 

Great decision makers never worry about how their decisions may affect them. As a decision maker, your job is to follow through with the choice that will have a positive impact on the majority.

 

 

While decision makers often take big hits from their decisions, great ones have always made the right choice. As a decision maker, be ready to sacrifice yourself for the greater good of others.

 

 

4. Data Rules All Decisions

 

Ask any successful business owner and they will tell you how important data is. Data is something every entrepreneur should be using when making decisions.

 

 

When I started off as an entrepreneur, I collected no data. My decisions were poor and they could be seen through the mediocre results I was getting.

 

 

After realizing how important data is to a business, I began collecting information about everything. It never hurts to have too much data when making decisions.

 

 

5. Have No Regrets

 

Making decisions is never an easy thing. The bigger the decision, the more scrutiny you will probably take. The biggest thing I’ve learned from decision making is to never regret your decision.

 

 

As long as you have enough logical information to make the decisions you make, you have nothing to regret. The biggest thing entrepreneurs must know about decision making is that you will make bad decisions from time to time.

 

 

Good decision makers make more good decisions than bad ones and that is truly how you can impact the success of your business.

 

 

Conclusion

 

Decision making has been a crucial part of my business and entrepreneurial success. As I continue to grow through entrepreneurship, I’m still learning many valuable lessons about decision making.

 

 

Do you have any tips or lessons you’ve learned about decision making? Feel free to share below by commenting.

 

 

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5 Success Stories Who Didn’t Let Their Youth Stop Them

As a young entrepreneur, it’s always good to hear stories about others who have succeed at a young age. It’s not only inspirational, but it gives us motivation to push forward with our goals. In this blog article, I will share 5 success stories who didn’t let their youth stop them from achieving greatness.

 

As a young entrepreneur, it’s always good to hear stories about others who have succeeded at a young age. It’s not only inspirational, but it gives us motivation to push forward with our goals.

 

 

In this blog article, I will share 5 success stories who didn’t let their youth stop them from achieving greatness:

 

 

1. Justin Bieber

 

Most people who know Justin Bieber either love him or hate him for their own reasons. Regardless of your taste of Justin, this kid accomplished a ton before he was even legal.

 

 

Ever since his career took off at the age of 14, Justin Bieber has been able to earn over $110 million. Currently 19, Justin Bieber is living the life thanks to hard work and the willingness to pursue his dreams even when he was very young.

 

 

2. Nick D’Aloisio 

 

This young entrepreneur developed a mobile app known as Summly that shortened articles as a 17 year old. This masterful entrepreneur was full of hustle and drive.

 

 

His hustle and drive lead him to do whatever it took (even spamming the mailboxes of reporters) to succeed. Huge investors such as Ashton Kutcher began to back this British entrepreneur and he recently sold his company to Yahoo.

 

 

He sold his mobile app to Yahoo for $30 million. It took this entrepreneur two years of serious hustling to cash out and get a job at Yahoo!

 

 

3. Mark Zuckerburg

 

Leaving Mark off this list would be a crime. This young entrepreneur is one of five co-founders of the social media giant, Facebook.

 

 

The whole social networking idea began in his Harvard college dorm room and it exploded to become the biggest social network the world has ever seen. When Facebook was founded in 2004, Mark Zuckerburg was only 21 years old.

 

 

Since then, Mark Zuckerburg has been able to take Facebook public. In addition to that, he’s one of the youngest billionaires in the United States.

 

 

4. Gurbaksh Chahal

 

Gurbaksh Chahah is a greatest inspiration for entrepreneurs out there. He grew up struggling with life as he was a target to bullies at school.

 

 

However, he decided to leave the hate he was getting at school and began pursuing entrepreneurship. He dropped out at 16 and it would only take him 9 years to achieve mass success.

 

 

By the time he turned 25, Gurbaksh had founded and sold two advertising companies for a total of $340 million.

 

 

5. Farrah Gray

 

Farrah Gray was born and raised in the projects. He had a tough life from an early age and he wanted to find a way to change his circumstances. He turned to entrepreneurship before he was a teenager and was extremely successful.

 

 

By the time he turned 14 years old, Farrah had already earned his first million dollars. I had the great opportunity of meeting Farrah Gray at a speaking event in Fresno earlier this year and he is an amazing individual.

 

 

Conclusion

 

Regardless of how old or young you may be, age is nothing but a number. Don’t let a small number on your ID stop you from achieving great things. These 5 individuals have shown that achieving greatness doesn’t require any specific age.

 

How To Wake Up Motivated Every Morning

As an entrepreneur or business owner, it’s not always easy to wake up motivated. Regardless of how passionate you may be about your project, everyone has mornings or rough patches. Here’s an article that will show you how to wake up motivated every morning using a few simple tips and tricks.

 

Even entrepreneurs, those who chase their dreams and enjoy their work have some mornings when motivation is hard to find. Rather than working unmotivated for the rest of the day, you should be figuring out how to motivate yourself.

 

 

In the last few years of being an entrepreneur, I almost always woke up motivated and excited. However, there were times when things just weren’t going all too well and motivation was hard to find each morning.

 

 

Instead of continuing to work unmotivated, I decided to figure out a successful method of waking up motivated every morning. After a bunch of different experiments, I finally came up with the solution on how to wake up motivated every morning.

 

 

1. Remind Yourself Why You Do What You Do

 

As entrepreneurs, we all have a deeper reason for why we do what we do. Often times, when we’re unmotivated and unenthusiastic, it’s easy to forget why we started.

 

 

I have a whiteboard in my room that has a quote explaining why I do what I do. Every morning, I see “Build a successful startup or die trying” on the whiteboard right in front of me.

 

 

This immediately reminds me why I’m doing what I’m doing and it helps me get out of bed really quick.

 

 

2. Put Your Goals Where You Can See Them

 

On the same whiteboard, I have a list of all my goals written out as well. That way, each morning I am reminded of what my work needs to accomplish.

 

 

It helps me stay motivated knowing that I have such high goals set for myself and that I cannot achieve them unless I work towards them. While motivation should come from the inside, sometimes it takes a little extra push to stay focused.

 

 

Write your goals out where you can see them clearly everyday. Share your goals with others so your friends and family can hold you accountable when you don’t reach your milestones.

 

 

3. Seek Out Motivation

 

One of the best ways to wake up motivated is to seek out motivation on your own. Every morning, I love to post a quote on my Facebook page that helps motivate me and others around me.

 

 

If you’re lacking motivation or need an extra push, look up motivational quotes that help you stay focused. If anything, it’s even great to look up your favorite quotes that act as a constant reminder to why you want to be successful.

 

 

4. Ask Family or Friends For Help

 

Entrepreneurs need a strong support system to succeed. If you lack motivation or need a pep talk, ask your family or friends for help.

 

 

Mom’s and Dad’s are really good people for this role. We are so used to them always pushing us to be our best that their words can have the strongest message.

 

 

If you’re ever feeling unmotivated, give your friends/family a call and talk about it with them. Help them inspire you back on the right track.

 

 

5. Go To Bed Satisfied

 

The way you feel before going to bed has a huge impact on how you feel when you wake up. Try to avoid calling it a night if you feel frustrated or down about something in your life.

 

 

When you wake up, often times your feelings don’t go away and it may cause for an unproductive morning. The way you work during the day also has a huge impact on your mood when you wake up the next morning.

 

 

If you work hard and feel satisfied with the results achieved, you will be far more driven and motivated the next day. Try to have as many good days as possible, so you can continue waking up motivated.

 

 

Conclusion

 

Waking up motivated every morning is hard regardless of how passionate about your project you may be. However, these simple tips and tricks can help you wake up more motivated each day. Here’s one of my favorite motivational videos ever:

 

 

 

 

photo credit: Βethan via photopin cc

An Entrepreneur’s Guide To Patents

As entrepreneurs, we often are fearful of others taking our precious ideas. Thus, we look towards patents and other types of intellectual property to protect our ideas. In this blog article, I’m going to discuss what patents are useful for, when you should get them, and some of my personal mistakes with patents.

 

Entrepreneurs very often come across ideas that are revolutionary and one-of-a-kind. Before they go any further, they become terrified someone may steal their idea and look for some sort of protection.

 

 

Patents – one of the most common ways to protect an idea or innovation is the first thing many entrepreneurs look to. They costs thousands of dollars and often provide little value for just an “idea”, but people still continue to use them.

 

 

In this blog article, I’m going to discuss what patents are useful for, when you should get them, and some of my personal mistakes with patents.

 

 

What Patents Really Mean

 

For some reason, many entrepreneurs think a patent protects their idea or innovation from just about anything/anyone. That’s the least bit true.

 

 

First of all, patents take a very long time before they are issued. The examiner in the patent office usually picks up an application 18-24 months after it has been filed.

 

 

From there, most patents are sent back to the attorney since the claims made on them are too broad. Factor in the rebuttal process and the average patent typically takes 36 months to be issued.

 

 

Did you know 66% of new businesses don’t make it past the first 2 years? It’s scary to know that your patent may be issued well after you go out of business. During the process, your idea or innovation is known as “patent-pending”.

 

 

Essentially, an entrepreneur is paying thousands of dollars (typically between $6,000 to $20,000 depending on the type of patent) to have a “non-guaranteed status”.

 

 

Patents don’t really mean much for an entrepreneur just starting out. It’s a status for their product or idea, but it doesn’t bring them any tangible return.

 

 

When Patents Mean Something

 

Before launching StatFuse, my partner & I decided to invest $6,000 to get a patent on our algorithm. It seemed like the best idea at the time since we were scared that people may steal our idea.

 

 

Until this day, it’s one of the worst investments we have made. Why? Because, we really didn’t need a patent. We were worried about people “stealing” our idea, but ideas don’t mean shit.

 

 

It’s the actual execution of the idea and our startup hitting the spotlight that would potentially cause someone to replicate our model. Funny thing is, we are in patent-pending status but still have a company who has copied our idea.

 

 

Nevertheless, we can’t stop them from doing what we’re doing. Shows just how much the patent helped, right?

 

 

Patents are best looked at as “insurance”. If you buy a beat up car for $1,500…..you really don’t care whether it’s insured or not. However, when you buy a $50,000 Mercedes Benz…..you really step up the insurance package on it.

 

 

Your ideas and innovations are the same way. If you’re just starting out and have no sales, you really don’t need insurance for your idea through a patent. However, if you’re looking to pitch to investors, they definitely want to know their $200,000 investment will be insured.

 

 

When To Get Patents

 

As you can see, patents are only valuable for startups in certain times. If you’re looking for outside help such as funding, endorsements, or even bringing on a bigger team…..patents can be helpful.

 

 

People want to know their time, money, or image are well-protected. Patents don’t have much face value, but it’s just an insurance package for many.

 

 

If your ideas or innovations hit the spotlight and start gaining major traction, getting a patent is a MUST! People love to imitate models and ideas that have shown positive grow.

 

 

The best times to get patents are when your idea or innovation are actually going somewhere or when your startup is ready to seek outside assistance.

 

 

I Have An Idea, But I’m Still Scared 

 

Especially after watching the Social Network, we all have this paranoia of people taking our ideas. Patents make us feel safe while we share ideas with others.

 

 

I’ve been through that phase and I know exactly how it feels! For the entrepreneur who is really scared to share their ideas without protection, I have a suggestion for you.

 

 

You can get subsidies of patents, which are known as “provisional patents”. Essentially, they are an extension for patents.

 

 

In any point of time, you get to fill out some documentation outlining your idea/innovation. The provisional patent essentially says that you’re the owner/creator of the idea, but you haven’t gone ahead and filed an actual patent for it.

 

 

From that period, you have 12 months to file an actual patent on it. These provisional patents cost less than $1,000 and gives you the ability to develop your product.

 

 

Once your product gains traction, begins to work, or even requires outside assistance, you can file for a patent within the 12 months.

 

 

Conclusion

 

Patents have a lot of gray areas that many entrepreneurs don’t understand. When I started out as an entrepreneur, I really overestimated the value of patents.

 

 

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5 Books Entrepreneurs Should Read

As entrepreneurs, we know that self-education never stops. One of the best ways to expand our knowledge is by reading books. Thankfully, entrepreneurs have a wealth of information and resources available to help further their learning. Over the last few months, I’ve done quite a bit of reading myself. I’ve read books I found interesting, taken suggestions from other entrepreneurs, and even searched books on specific topics. After reading about 20 books, I have created a list of 5 books that entrepreneurs should read.

 

As entrepreneurs, we know that self-education never stops. One of the best ways to expand our knowledge is by reading books.

 

 

Thankfully, entrepreneurs have a wealth of information and resources available to help further their learning. Over the last few months, I’ve done quite a bit of reading myself.

 

 

I’ve read books I found interesting, taken suggestions from other entrepreneurs, and even searched books on specific topics. After reading about 20 books, I have created a list of 5 books that were extremely useful.

 

 

Here are 5 books entrepreneurs should read:

 

 

1. The Millionaire Fastlane by MJ Demarco 

 

This book is long, but it puts a great perspective on entrepreneurship. For those of you who may be trying to decide whether a 9 to 5 job or entrepreneurship is better for you, this book really helps you analyze both options. This book justifies why entrepreneurship is the smarter choice and has a lot of great factual evidence to back it up.

 

 

2. Outliers: The Story of Success by Malcolm Gladwell 

 

Malcolm Gladwell goes on a journey to discover what makes the super-achievers different from the regular people in society. He does an in-depth analysis on the successes of the world to find what really makes them successful. From his search, he finds that their successes are related to their culture, family, generation, opportunities present, and other experiences.

 

 

3. Pitch Anything by Oren Klaff 

 

I found this book when I was looking for something to help me with sales, negotiation, and persuading others. Oren Klaff was a professional ‘pitcher’ who raised large amounts of capital for his clients projects. He shares one of the greatest persuasion strategies I have ever heard. His persuasion strategy has worked for me countless times helping me close many deals after reading his book.

 

 

4. You Call the Shots by Cameron Johnson 

 

Cameron Johnson started his first business at the age of 9 and never looked back. He’s had tremendous success in the world of entrepreneurship. This book shares some essential techniques that all entrepreneurs should know by detailing personal stories from his life. He shares his struggles, milestones, and successes as an entrepreneur as well as the many lessons he learned along the way.

 

 

5. Think and Grow Rich by Napoleon Hill 

 

This book is a very practical one. Napoleon Hill shares some of the best practical information about the mindset required to succeed and become wealthy. This book was a bestseller and sold over 15 million copies worldwide. This book is known as the big daddy of all motivational books and is a must-read for entrepreneurs looking to make huge strides.

 

 

Bonus: The Pursuit of Passion – An Entrepreneurs Starter Guide To Success by Jeet Banerjee 

 

Many entrepreneurs ask me some basic questions everyday. How do I become successful? I have a business idea, what do I do? What does it take to become a successful entrepreneur?

 

 

While, I could never answer these questions fully….I got tired of giving people the same responses over & over again. Thus, I decided to write this book to help entrepreneurs out.

 

 

My book helps entrepreneurs understand the mindset and skills they must develop first in order to succeed. From there, my book guides them on how to go about from turning their ideas into successful businesses. You can buy my book for $9.99 at the link above.

 

 

Limited Time Special: If you buy my book within the next 7 days, you will receive a FREE 30 minute consultation with me. ($100 Value – Absolutely FREE)! 

 

 

Conclusion

 

As entrepreneurs, we must understand that learning never stops. While there are millions of great books out there, these are 5 books every entrepreneur should read at least once.

 

 

Do you have any books that have helped you tremendously? Feel free to comment below and share!

 

 

One Simple Tip To Increase Click-Throughs On Your Call To Action Buttons

Call to action is a word used in web design that hopes to achieve a certain response from the user on the web page. There are many ways to create call to actions, but one of the most popular ones are buttons. This blog article will show you one easy trick your website can utilize to immediately increase click-throughs on your call to action buttons.

 

Call to actions are used in websites hoping to garner a certain response from the user. There are many ways to create call to actions, but one of the most popular ones are buttons.

 

 

Call to action buttons can include a variety of different things. Buttons can say things like “Buy Now”, “Sign Up”, “Get Started”, or anything else.

 

 

The goal of these buttons is for a user to take action immediately by clicking the button. Often times, call to action buttons can lead users to purchase something, sign up for something, or even fill out a form (lead-generation).

 

 

Regardless of what the purpose may be, there is one easy trick your website can utilize to immediately increase click-throughs on your call to action buttons.

 

 

The Wrong

 

Color plays an extremely crucial factor in click-through rates for your call to action buttons. Often times, website designers do not specialize in marketing. Thus, your website looks great, but doesn’t do an effective job in converting users into sign-ups or customers.

 

 

Most people would agree that the website above looks absolutely great. It has a nice design, it’s easy to understand, and it’s clean.

 

 

However, this website has a HORRIBLE call to action button. The goal of their call to action button is to get users to take a tour of their product and hopefully sign up with them after.

 

 

This website was designed from a web designers perspective instead of a marketers perspective. The “Take the Tour” button is engulfed within the maroon background and doesn’t stand out very much.

 

 

Now we’re going to look at the simple trick this website or any other website can use to drastically increase click-throughs on their call to action buttons.

 

 

The Right

 

Color choice is everything when designing call to action buttons for the user. Your call to action button has to stand out (in a non pretty way).

 

 

Typically, your websites goal is to sell products, generate leads, or create sign ups. Sometimes the prettiest websites have the worst conversions rates because of this reason.

 

 

We’ll use my website as an example to show you how I increased click-throughs with my call to action bar.

 

 

On my website, my call to action bar can be found at the very top of the website. It’s got a bright orange background. Ugly? Yes.

 

 

Works? Hell Yes. My click-throughs increased by over 100% after I changed the background color from beige to orange.

 

 

As ugly as the orange looks with my blue website, it creates a dramatic contrast. Everything is blue, but suddenly there is orange at the top of my website. The users eyes automatically wander there.

 

 

Call to action buttons/bars need impressions to successfully generate leads, sales, or sign-ups. Below are a few more examples of great call to action buttons/bars that work well.

 

 

 

This website wants to evoke action from users by getting them to download their product for free. Their call to action is the “Free Download” button and that button stands out with the bright green color used.

 

 

 

MailChimp hopes to get users to sign up for free on their website and does a great job of creating a call to action button that stands out. They go with a red button that matches no part of the website.

 

 

 

This website utilizes a bright yellow call to action button. They want users to try their product for FREE and their call to action does a great job of directing the users eyes to the bar below the slider.

 

 

The Tip

 

If you haven’t been able to figure it out by now, the simplest way to increase click-throughs on your website is by changing the color or style of your call to action button.

 

 

Look at your website and create a list of colors that have not been used anywhere on your website. Then, play around with the list of unused colors to see which color stands out the most.

 

 

Typically, the ugliest combinations make the best call to action buttons. If your button is so ugly that users can’t help but look at it, you’re on the right path.

 

 

Conclusion

 

This is one simple tip to increase click-throughs on your call to action buttons. Share any other tips and suggestions you have to increase conversions on call to action buttons.

 

 

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VALUE – The Game Changer For Startups

Great ideas mean nothing. Whether you’re trying to acquire subscribers for your product or sell your services to someone, you must deliver VALUE. When I learned about the word VALUE and what it meant, turning good ideas into great businesses made all the sense in the world. I’m going to talk more about the word VALUE and how it has helped me give customers what they want:

 

I remember launching my first web startup because I thought it was a great idea. All I cared about at that time was how good the idea was.

 

 

I thought, if your idea is great…..how can you not get wealthy with it? Fast-forward to today (a year and a half later) and boy have I learned a lot.

 

 

Great ideas mean nothing. Whether you’re trying to acquire subscribers for your product or sell your services to someone, you must deliver VALUE.

 

 

When I learned about the word VALUE and what it meant, turning good ideas into great businesses made all the sense in the world. I’m going to talk more about the word VALUE and how it has helped me give customers what they want:

 

 

What It Means

 

When you look up the definition of VALUE in a dictionary, you get a few different meanings:

 

 

Value – The material or monetary worth of something.

 

Value – The usefulness of something considered in respect of a particular purpose.

 

Value – The worth of something compared to the price paid or asked for it.

 

 

Which of these meanings are correct? Well, all 3 of them are. Great businesses provide unbelievable value to their customers.

 

 

Finding out what kind of value your customers need/want is part of the customer development process. Value in entrepreneurship is all about giving your user/customer/subscriber what they need.

 

 

Truly Nailing Value

 

Our first vision with StatFuse was to create a calculator that would give students their chances of admission. While that was a great idea, it lacked a lot of value.

 

 

Students said, “Great, I know my chances but how does this help me?” That’s when it hit my partner & I about what value really means.

 

 

Giving people their chances was cool and fun, but it had no intrinsic value for them. When we changed our portal to include more features and tools that actually helped students improve their chances of getting accepted, the feedback was tremendous.

 

 

Suddenly users were flocking to our website looking to sign up because we were giving them VALUE. Instead of giving users something a peace of mind, we were actually helping them get into their dream college.

 

 

Translating great ideas into great businesses can take a lot of time. Often times, you really need to understand who your customer is and how you can really help them.

 

 

Conclusion

 

Value is something that every startup or entrepreneur should really understand. It’s something that can really take your startup from a good idea to a solid business.

 

 

Whether you’re looking to raise money from investors or build the next big company, it’s important to build something that is scalable and creates uncanny value for others.

 

 

What is your opinion on VALUE? Share your thoughts & comments below.

 

 

photo credit: Alan Cleaver via photopin cc

7 Things New Entrepreneurs Say, But Really Shouldn’t

I remember taking the leap into entrepreneurship like it was just yesterday. Even though it has been almost 4 years now, the memory is stronger than ever in my mind. As a new entrepreneur, I said a lot of things that I really shouldn’t have. Looking back, many NEW entrepreneurs say these things. Here are 10 things new entrepreneurs say, but really shouldn’t.

 

I remember taking the leap into entrepreneurship like it was just yesterday. Even though it has been almost 4 years now, the memory is stronger than ever in my mind.

 

 

As a new entrepreneur, I said a lot of things that I really shouldn’t have. Looking back, many NEW entrepreneurs say these things.

 

 

Here are 7 things new entrepreneurs say, but really shouldn’t:

 

 

1. “I just came up with the idea that is going to kill Facebook.”

 

Entrepreneurs have big dreams and aspirations. They often stem with bringing down the big giants in their respective industries. However, taking out the goliath in your industry isn’t always feasible or the smartest idea.

 

 

Taking market share from Goliath is possible, but attempting to overthrow something that big takes a lot of time. Many startups and new businesses can piggy-ride the giants in their industries to their own benefit.

 

 

2. “We’re not too concerned with making money right now….”

 

Many startups come out of the gates with no plan to make money. When I launched StatFuse, my team & I had no idea on how to monetize it.

 

 

We decided to stay free and make money off ads or something like that. You MUST have a plan to monetize your startup otherwise it will be absolute hell trying to figure things out later on.

 

 

3. “All we need is 1% of the market to be millionaires….”

 

1% of anything looks really really easy! Believe me, 1% of something that makes you millions probably requires you to sell your product to millions of people.

 

 

Don’t look at the percentage of the market you need to capture, but rather how many people you need to sell your product to. Percentages can be deceiving and it’s an easy route for disappointment.

 

 

4. “We don’t have any money to pay you, but how about we give you 3% equity in our business….”

 

Unless you have a business that is already worth millions, it’s very disrespectful offering someone such a small percentage in your company. Many new startups make this mistake often.

 

 

However, always value the time of others in a fair manner. The last thing you want to do is insult someone by giving them an offer that is disrespectful. Find out what they value their time at, look at the valuation of the business, and reach an agreement that is fair for everyone involved.

 

 

5. “All we need is an investor or funding and we will be successful.”

 

Money doesn’t mean you will have a successful business. Building a successful business takes a lot more than just a pile of cash.

 

 

Many entrepreneurs make the mistake of finding funding way too early. It’s far better to find a way to be successful WITHOUT funding and only look for investors (just make sure you check their background and credit score if you go this route) as an ultimatum.

 

 

6. “My idea is better than yours so I will be more successful.”

 

As new entrepreneurs, we all get fixated on ideas. However, after you actually go through the process of building a business, you realize how little ideas mean.

 

 

Execution is 90% of the game while your idea is just 10% of it. Focus more on execution, user adoption, and marketing plans rather than counting yourself as a millionaire just because you have a good idea.

 

 

7. “No nevermind, I’ll do it myself.”

 

As entrepreneurs, we want to tackle every aspect of our business ourselves. However, that’s a very bad idea.

 

 

Entrepreneurs need focus. It’s one of the most important factors that can lead to success. Focus on the tasks that you are in charge of while trusting others to do other things. You can’t do everything yourself forever.

 

 

Conclusion

 

Is there a common phrase you hear among new entrepreneurs that shouldn’t be said? Feel free to comment or share below!

 

 

photo credit: WilliamMarlow via photopin cc

5 Reasons to Get Over Your Fear of Public Speaking

Are you scared of speaking in public? As an entrepreneur, business owner, or blogger, public speaking can have a huge impact on your success. This article will talk in-depth about the benefits of speaking public and why you should give it a shot. Here are 5 reasons to get over your fear of public speaking.

 

As an entrepreneur, many of us get the opportunity to speak to a large audience or group. However, I know way too many people who have turned down these GREAT opportunities.

 

 

Why? Well, they are shy and scared of public speeches. Public speaking is one of the quickest ways to grow your network and stature in the entrepreneurial world.

 

 

Growing up, I was a pretty shy kid. When it came time for my first speaking gig, I was pretty reluctant. I was scared, but I got some great advice.

 

 

My friend’s father told me, “Public speaking scares me shitless. Growing my business, meeting some of the greatest minds in the industry, and making the crowd laugh just makes me giddy. I love doing one, but hate doing the other so it’s okay after all.”

 

 

So using this advice, I decided to give public speaking a shot. I’ve been doing it for almost 8 months now and it has completely changed my world. I’m going to share with you 5 reasons to get over your fear of public speaking.

 

 

1. You Get To Hangout With The Cool Kids

 

Well, they are more than just cool and definitely aren’t kids…..but the company is great. Speaking at events gives you the opportunity to connect with many other speakers.

 

 

You immediately get to network with individuals who have accomplished great things. Remember, it helps to know a lot of talented individuals in business because you never know when they can help you!

 

 

Speaking gigs have given me the opportunity to meet people like Mike DeLazzer (co-founder of Redbox), Jeff Hoffman (co-founder of Priceline), Farrah Gray, and many other amazing business minds.

 

 

2. Your Business & You Become 10x More Credible

 

Speakers are seen as authority figures. Thus, a speaker and his company are also seen as authority figures. Speaking puts your company on a grand plateau.

 

 

Speaking opportunities make your business and you far more credible. Credibility and trust are two very important things for startups and new businesses. Consistent speaking opportunities can slowly build trust and credibility for your business.

 

 

3. Builds Your Community

 

Speaking events can really help build your community. Whether you own a business or run a blog, you know how valuable a strong community is. Whether your community consists of email subscribers or followers/likes on social media, it can have a huge impact on your businesses long-term success.

 

 

Speaking gigs allow you to publicly promote your social media accounts, blogs, or business websites. When a crowd of 500 people hear you speak and see your social media information, it’s safe to say 10-15% of them will subscribe to your updates.

 

 

Speaking opportunities have helped me greatly increase my social media following. Surprisingly, the connections made during these speaking events usually end up engaging with me the most.

 

 

4. You Get To Educate & Inspire

 

One of the biggest reasons I got into speaking was because I had an opportunity to educate and inspire others. I love speaking to younger crowds because I want to show them that anything is possible.

 

 

Speaking gives you a great group of people whom you can speak to and share anything you want. This opportunity is rare, but it gives you the ability to change other peoples lives.

 

 

Speaking doesn’t always have to be about what you can get out of it. There are many aspiring entrepreneurs looking for advice and some motivation.

 

 

5. You Get To See New Places

 

Speaking gigs usually can take place anywhere in the world. If the hosts of the event are gracious enough to cover your travel and lodging costs, you may be in for a great treat!

 

 

Speaking opportunities can allow you to travel to new places, meet new people, and explore new areas. One of my favorite parts about speaking is that I get to see new places and travel while getting things done.

 

 

Conclusion

 

While public speaking is something that can definitely be scary, we as entrepreneurs already know how to overcome our fears for greater good. Speaking can not only benefit your business, but it can also change the lives of others.

 

 

photo credit: WilliamMarlow via photopin cc