Entrepreneurs are everywhere! Everyday more and more individuals dive into entrepreneurship. Entrepreneurship is growing faster than it has ever before. Regardless of what we do, everyone wants to be GREAT. Being great in entrepreneurship isn’t always about what you do, but how you do it. I’m going to share numerous different characteristics, mindsets, and attitudes GREAT entrepreneurs share.
“There are no great men, only great challenges that ordinary men are forced by circumstances to meet.” – William F. Halsey
Entrepreneurs are everywhere! Everyday more and more individuals dive into entrepreneurship. Entrepreneurship is growing faster than it has ever before.
Regardless of what we do, everyone wants to be GREAT. Being great in entrepreneurship isn’t always about what you do, but how you do it.
I’m going to share numerous different characteristics, mindsets, and attitudes GREAT entrepreneurs share.
#1. They are passionate about what they build, yet have a purpose that runs far deeper than getting rich quick.
#2. They are courageous far beyond expectation and are willing to suffer the consequences of the risks they take.
#3. They hustle hard because they know hard work pays off.
#4. They are people persons. They have great charisma and people love to be around them.
#5. They dream BIG and understand that nothing is impossible.
#6. They take accountability for their own mistakes.
#7. Their belief is unbreakable. They have a vision and nothing/nobody can stop them from reaching their goals.
#8. They embrace failure, learn from it, and stay persistent.
#9. They are optimistic of the future, realistic about the current situation, and understand of the pessimistic.
#10. They are not afraid to surround themselves with people who are better than them.
#11. They are competitive, understand leverage, and know what it takes to negotiate successfully.
#12. They are open-minded and willing to pivot when change is necessary.
#13. They take nothing for granted, appreciate everything they receive, and continue to give.
#14. They make decisions based on data, results, or other visible factors.
#15. They are self-confident. They don’t worry about whether or not they will be successful, but rather then they will be successful.
#16. They have great humility. They understand that the customer is always right.
#17. They are dedicated and committed to their ventures while they maintain a high level of energy everyday.
#18. They are resourceful, reasonable, and most importantly resilient.
#19. They wake up every morning self-motivated and never have to be told twice on what to do.
#20. Most importantly, they respect everyone around them and are willing to help others in anyway possible.
Conclusion
As you can see, great entrepreneurs are defined not by the amount of money they make but rather the amount of character they have. It’s one thing to be good, but a whole another thing to be great.
This blog article will teach you how to create a bestselling product by overcoming the 5 obstacles to sales. Sales is tough, but it’s a lot easier when your product sells itself. By overcoming these 5 obstacles, your product will now be ready to appeal to a mass market and the sales process will be extremely easy!
As entrepreneurs, our goal is to build the greatest product ever. However, very few products are ever created with the customers priorities in mind.
Once you build a great product, you need customers who are willing to pay you money for what you are selling. The biggest hiccup entrepreneurs face is finding a great way to sell their product to customers.
However, it takes more than a sales pitch to convince a LOT of your market that your product is great. There are 5 basic obstacles to sales. If you want to create a product that sells millions or even billions, you need to overcome all 5 of the obstacles to sales.
Here is how you can overcome the 5 obstacles to sales and create a bestselling product:
Obstacle 1: No Need
How big of a need is there for what you’re selling? The best types of products are things that people need, but cannot find. Great products also solve problems that people face and hate to live with.
I had a regular iPhone case. Suddenly, I found out that you can buy a case that stores a few of your credit cards in the back of the phone. This meant that I didn’t have to carry my wallet and phone everywhere I went.
I often made errands to the store, spent evenings hanging out with friends, or went to the gym, this product solved a HUGE problem for me. I had a need for it and I was even willing to buy another case just so that I could have this problem solved.
Great products have needs. If your product has a need and you can fulfill it, people will go out of their way (just like I did) to purchase it. Talk to your customers, ask them what problems they currently face, and see how you can pivot your product to cater to their needs.
Obstacle #2: No Money
What is the cost of your product? With the way our economy is today, the general consumer is very price conscious. They want to spend as little money as possible to get what they want/need.
Are your prices competitive with the competitors? Are your prices cheaper than the competitors? With any product, you generally have some competition. See how much they’re charging, how much money your customers usually spend on a product like this, and see if you can price yours better.
The more cost-effective your product is, the easier the sales process is. The difference between $49 and $99 may only be $50, but it has a huge impact on a customers decision to purchase.
With the wallet phone case I bought, it was priced at $16. I had paid $15 for my other iPhone case and cases usually ranged between $15-$20. It was priced very well, so I decided to buy it.
If it would have been over $20, I probably would have dealt with the pain of carrying my wallet everywhere I went. Price your product well because it has a huge impact on whether your customer purchases it or not.
Obstacle #3: No Hurry
As a customer, why should I purchase your product now? How about I go home, think about it for a few days, and then possibly make the purchase?
Great products always create a sense of urgency among your consumers. Why should your consumer buy this product NOW? The best selling products in the world are products that can create a sense of urgency and generate a purchase on the spot.
You do NOT want your customer going home or thinking about the purchase. Your conversion rates will go through the toilet as people usually become a lot more sensible when they have time to think.
Along with the startups I run, I also run a consulting business on the side. I consult startups, small businesses, and even big businesses on a variety of different topics. However, it is well known to everyone that my startups come first.
With that fact known, I have also made it clear to people that I can only work with a FEW different business owners every 3-4 months. Thus, my consulting business creates a sense of urgency among my potential customers.
They may possibly want to work with me, but they see that I don’t have many open spots left. They definitely don’t want to lose out on the opportunity to work with me, so they end up making a decision quicker than they usually would.
While this isn’t intentionally done, it’s just the way it is given my schedule. Similarly, find an honest way to create an urgency to purchase from your customers. Some good ways of doing this is showing the scarcity of your product, offering deals/discounts for immediate purchases, or throwing in free gifts for quick purchases.
Obstacle #4: No Desire
No desire and no need often get confused with one another. However, there is a big difference between the two. Products may have a need, but do they make the customer WANT the product?
Generally, great products create a desire to purchase. The greatest example of this is any product created by Apple. They are the masters of creating hype and selling out products on launch day.
The desire for apple products is tremendous! People want it even though they don’t really need it. I had an iPhone 4S but I waited at 6 AM to buy the iPhone 5. I didn’t really need an iPhone 5 because my iPhone 4S worked fine, but they created an uncanny desire to get it.
Is your product unique from everything else? Does your product have sex appeal? Is your packaging better than all other products? What makes your product so good that people want it really really bad!
Obstacle #5: No Trust
Trust is extremely important. The higher the price, the more trust is required between the customer and the business. Why should the customer believe that your product will do what it actually says?
There are a few different ways to build trust with your customer. If you sell online products, getting featured on big websites like Yahoo, Mashable, TechCrunch, Washington Post, NY Times, and others is a great way to boost your credibility.
It’s assumed that you must be a trustworthy and credible business if you have been featured on all the major publications. If people trust you, they will believe in whatever you sell them.
Creating trust for offline products takes a lot more work. One of the best ways to build trust for offline products is to find distributors or retailers featuring your items. Walmart, CVS, Walgreens, and other major chains typically don’t feature “shitty” products in their store.
Building trust can be very difficult, but it is one of the easiest ways to sell your products. Find different ways to build credibility for your product and leverage that during the sales process.
Conclusion
Sales is always easier if you’re selling a product that sells itself. Before building your next product, think about what you can do to make it a bestselling product. By overcoming the 5 obstacles above, your product will be ready to sell millions and billions of copies.
Have you guys heard the news? Passive Income is the big thing for 2013. More than ever before, people are striving to find a way to create income streams that make money passively. This article will share 5 ways to make money while you sleep!
Have you guys heard the news? Passive Income is the big thing for 2013. More than ever before, people are striving to find a way to create income streams that make money all the time.
Before we go any further, we must really understand what passive income is. Most people think it’s an easy way to make a lot of money. They think you don’t have to work, but you still get paid for just launching something.
No, that’s not exactly what it is. Passive income is when you set up an excellent system that automatically acquires and services customers without you to spend long-term time on it.
Building the product or service that will automatically do this is step 1, but the far more difficult task is figuring out how to bring a stream of customers to your site everyday.
This article will share 5 ways to make money even when you sleep:
1. Mobile Applications
Great mobile applications can make a lot of money passively. In order to create mobile applications that create passive income streams, you must do the following things:
– Find Simple Apps To make
– Find Good Niches
– Find Niches With Low Competition
The quickest way to make passive income through mobile applications is to fill niches and voids. People are constantly searching for a variety of different things on their desktops and mobile phones.
With the mobile stores being relatively new, there are a lot of things users cannot find in the app stores. Finding these things and filling them with solid mobile applications is an intelligent way to make money passively.
2. E-Book Publishing
Another popular route taken by many younger entrepreneurs is to create a passive income stream through e-book publishing. You write e-books much like you would make mobile applications.
Find topics or niches that haven’t been well-covered by other writers in the book stores and write GOOD books on those topics. E-book publishing is relatively simple and doesn’t require much money (if any) to get started.
Once you write your book and get it approved into the book store, you simply have to ensure it has a good cover and ranks well in order to make money passively.
3. Courses
Sites like Udemy are also giving many users the opportunity to make a lot of passive income. They have a very simple model, which can be extremely profitable. You create a course or lecture on a topic and get paid a royalty each time someone downloads your content.
I know some publishers who have taken months of time to create their courses, but have profited well over time. You must be an expert on a certain topic with a lot of demand and craft a well-written course with videos and helpful resources.
After the course is crafted, spend some time ensuring that your customers will be satisfied with the output. From there, you publish it and make sure that it’s easily searchable for users looking for lectures on that topic.
4. Websites Filling Needs
One of friends in San Diego bought a site off Flippa for $4,500. The site had no revenue/sales coming in, but it had a decent amount of traffic.
I asked my friend why he bought the site since it wasn’t making any money and he always told me, “Just wait for it”. So I waited and waited, but I didn’t hear back from him for about 4-5 months.
Suddenly he told me he was making $5,000 a month off this site without doing any work. I couldn’t believe it and I asked him how? He told me he bought the site not because of the name or the traffic, but rather because of the search engine rankings.
The website ranked very well for a few select keywords. My friend noted down those keywords and found out what the users intentions were when they were searching these keywords. He created a small desktop program that catered to their needs and charged them $30 a sale.
It took him 6 months to create the software and get all the keywords where they needed to be. However, for the last 1 year he has been making $5,000 or so a month from this website without spending much time on it.
5. Affiliate Blogging
I have never tried this method myself, but I know a lot of people who have found great success with affiliate blogging. You start by creating a blog on a topic you have a large amount of expertise on.
From there, you can join sites like Commission Junction or ClickBank that allows you to cross promote your blog with other ones. Then you begin to promote it and as soon as you start getting a larger amount of traffic, you’re able to put up affiliate ads.
Once you create a steady stream of traffic to your blog, these affiliate ads will typically pay off with conversions of 1-3%, which is a solid way to make some passive income each month.
Conclusion
Passive income is a great way to earn money without working every single day of your life. If you’re a traveler, someone who has other hobbies, or simply wants some extra cash, creating a passive income stream is the way to go!
Luck is a very interesting word used in the world of business and entrepreneurship. However, there are two types of luck that take place in the world of business. The two types of luck are dumb luck and smart luck. This article will talk about both types and how YOU can get lucky in business.
Luck is a very interesting word used in the world of business and entrepreneurship. How many times do people blurt out things like “He’s so lucky he got that deal which is why his company is so big now.”
As an entrepreneur, I hear the word luck tossed around all the time. It’s usually coming from other entrepreneurs who are envious of someone else who is quite successful. Does luck exist in business?
Hell yes! Many millionaires, success stories, and big businesses can attribute luck as a factor in reaching their goals.
Separating Dumb Luck vs Smart Luck
Dumb luck is luck that occurs without taking extra initiative. It’s very rare and it’s the type of luck you should NEVER rely on because 99.9% of the time, it’s not coming.
An example of dumb luck would be a great aunt who passes away and leaves you with a million dollars. You never heard from her and you barely even remember meeting her, but she decided to leave you with a chunk of cash.
This would be a big example of dumb luck. You didn’t really do anything (besides being born) to get lucky enough to obtain that wealth, but you did anyway. Dumb luck almost never occurs.
Smart luck is defined as opportunity meeting preparation at any point of time. If you work hard, stick to your plan, and continue building towards your goal…..you’re bound to get lucky every now and then.
A great opportunity may place itself out of “luck” at anytime. Being at the point of opportunity is completely up to you. The harder you work, the more opportunities you present yourself to, the luckier you get.
Getting Lucky
There is no precise moment in time that you will be get lucky and have all the things you want. In business, luck doesn’t mean you even get everything you need.
Luck in business is like finding a seed that enables you to grow a big tree. You may be given the opportunity to prove your product to a huge corporation, receive a small endorsement from a celebrity, or anything else that may have an impact on your business.
Just because Walmart agrees to look at my product does NOT mean that it will get accepted. It’s lucky if you travel each week around the world attending conferences showcasing your product and run into someone willing to give you a shot.
Suddenly, a corporate representative from Walmart drops by and likes your product. Even though it’s unproven, he decides to give you a shot and puts your product in 1 of his stores to see how it does.
You just got a very LUCKY opportunity in business. However, you still have NOTHING. All you have is a big opportunity to prove yourself, but you can screw it up with just one wrong move.
As a successful entrepreneur, your job now would be to execute flawlessly so that Walmart now puts you into thousands of their stores. Once this happens, a great opportunity met with excellent preparation gave you a lucky break.
Stop Waiting For Luck
Never wait for luck. The harder you wish for luck, the longer you may have to wait. In fact, luck may never even present itself to you.
You should be working hard everyday towards your goals. The harder you work, the luckier you get. Why? Because you’re presenting yourself in front of hundreds and thousands of opportunities.
Before launching StatFuse a year ago, we contacted hundreds of media/press outlets. Nobody picked us up, but CBS referred us to their sister station known as Channel One news which catered to high school students.
That stroke of luck brought us thousands of users overnight. If we didn’t get any responses from the first 10 media outlets and decided to stop, we would have not gotten our ‘lucky’ break.
Luck is a direct result of hard work. You never know what may happen, but as long as you stick to your plan/goals…..luck may play an integral part of your success.
Conclusion
Luck does exist in business. However, waiting on dumb luck will never make you a successful entrepreneur or business owner. Work hard, stay persistent to your goals, and opportunities will come your way!
Money is an extremely illusive object, but a relationship that is very difficult to master. While most people traditionally have been told that saving money is the best way to get the things you can’t have, I’m here to change your mind. This article will discuss a new approach to getting what you want without saving money while mastering your relationship with money.
Money is one of the most sought-after objects in the world today. We are dependent on money every single day of our lives.
As an entrepreneur, you should never be chasing money. Your purpose should be far deeper than that. For most people, money is something that is quite heavily involved within your plans.
Many people out there will tell you the best way to get rich is to save money. But are you truly wealthy if all you’re doing is saving? Are you enjoying your wealth if it’s hoarded in bank accounts?
Chances are, you aren’t! As a young entrepreneur, I started off pinching pennies left and right. Eventually, life just sucked.
I had some money saved up, but I wasn’t enjoying it. Money enables us to enjoy the pleasures and luxuries of life, which are essential to our success. Thus, why not take a new approach to getting wealthy?
Make More, Spend The Same
People save money by cutting down on the things they enjoy in life. My friend once told me that he would never take another vacation again so that he could save more money. Unfortunately, my friend was an avid traveller and really enjoyed exploring the world.
If you enjoy taking vacations and journeying out to new places, why should you give it up? Why are we so quick to think that saving money is the answer to all of our problems?
A better answer is to simply make more money. You enjoy vacations, but at the same time you also need to start saving money for a new car. Great, start making more money so you can have both without sacrificing the other.
Figuring Out How Much You Need
Using this model also puts people at the risk of abusing it. You must draw the line and figure out what items are reasonable luxuries and which ones aren’t.
If you want something, the most simple answer is to go out and get it. However, this relationship with money does NOT mean that you blow your savings and go to Vegas.
You save what you need to save while buying the things you still enjoy. If you need a new car, but you also don’t want to give up your trip to Starbucks every morning, the answer is simple.
Figure out how much money your regular trips to Starbucks costs and find a way to earn that much more. You may be working a bit more, but now you also get to enjoy the pleasures of life while saving up money for your new car.
Conclusion
Most people who listen to this approach or read this article will say, “I’m already making the most money I can so this doesn’t work.” You are never making the most money you can.
When there is a will, there is a way. You set limits on how you value yourself, but you can truly earn as much money as you want.
If you need more money, stop sacrificing and start earning more. There are plenty of opportunities out there and if something is worthwhile, you can and will take the extra effort necessary to make more money!
Using this model, I have been far more successful in earning more money while enjoying the pleasures of life without sacrificing anything. Anyone can do this, it just takes the right attitude and approach to make it happen!
As a young entrepreneur, I’ve been featured on some of the biggest publications, radio shows, and even on television. Getting into the media isn’t easy, but it’s one of the most rewarding experiences ever. This is the ultimate PR guide for entrepreneurs looking to find similar success through the media.
When many of us think of PR, we think of big agencies or publicists who go out and pitch to various outlets. However, when I started reaching out to media outlets, it was nothing close to that.
It was just me trying to figure out what I could do to leverage the media so that my businesses could reap the rewards. Turns out, the media had a big impact on my businesses such as enabling StatFuse to acquire over 12,000 users within a few weeks of launching.
In addition to that, I’ve been featured on or interviewed on some of the biggest publications out there. I’ve had segments on Yahoo, YFS Magazine, Idea Mensch, New York Times, and many others. Not only that, but I have been on numerous radio shows and even have been interviewed on a television show!
Check out my segment on television below.
Today, I will share the ultimate PR guide for startups & entrepreneurs so that you can achieve similar success.
Your Angle
Before you can be newsworthy, you need to have a story or news to share with these publications. Media outlets are pitched hundreds (if not thousands) of articles every single day.
90% of their articles usually revolve around breaking news, current happenings, or things they have to report. That leaves hundreds to thousands of people trying to fit into the 10%, which leaves very little opportunity for you.
How do you get into the news? Well, you need to be creative and find a very unique angle that you bring to the table. Media outlets constantly described me as, “The Young Entrepreneur Building A Tech Empire” or “The Teen With A Big Business Dream” or “The Young Marketing Guru.”
Regardless of what they called me, you should be noticing one thing immediately. All of the angles that the PR pushed me as were extremely unique. The press is interested in featuring you to their audience for 2 reasons:
1. Unbelievable Story
2. Expert In Some Field Or Industry
#1 is your best shot of getting into numerous media outlets. If you bring a new perspective or angle, the press will be happy to share your story with their audience.
#2 has a lot of competition. It’s tough to be featured on major outlets for being an expert because there’s usually more than just one professional pitching for the spot.
Regardless of which route you choose to take, you will have to find a unique angle or perspective that you can push through the media. The more unique the angle, the easier chance you have getting published.
Finding The Media Outlets
Now that you have a story and an angle to pitch, you’re ready to find media outlets to share this information with. Over 75% of you are probably searching for a directory with a long list of all the major PR outlets.
STOP RIGHT THERE! Pitching to every single “major” media outlet never works. I wasted months on this when I started only to realize that I was wasting my time.
When I did it, it felt too easy and I was right. I got no results, but I had wasted a ton of time and probably screwed up quite a few opportunities. In order to find the right media outlets, you need to begin by reviewing your pitch.
Based on your pitch (whether you’re an expert or someone sharing a story), what kind of readers would benefit most from this? Make a list of the audience or demographics that would get the most of your story.
Once you have figured that out, go back to your big list of media outlets and see which of those publications cater to your audience. Remember, you want to be in the media to help you or your business.
If you’re in all the wrong media outlets, you may be on the homepage of a nice website, but you won’t be getting any results. Craft a list of all the media outlets you want to be in and note down their websites.
The Pitch
Publications don’t give you much insight on what you can do to have the best chance of getting your story featured. Typically, most of us go to their contact page and fill out a submission form with our pitches.
Most of the time, the right people are not seeing your pitch and nobody picks up your story. There is a right way to get your pitch in front of the right audience, but it’s a tedious process.
Go to your media outlet and visit the section/category where your story fits in the best. For me it was entrepreneurship, business, startups, or marketing. Then, go to these sections and look through recent articles that have been posted within the last 7-10 days.
Look for articles that are similar to the story you’re pitching. If you’re pitching yourself as a digital marketing expert, look for articles that have to do with marketing. Once you find an article that is relevant to yours, click on the writers name.
Now you will get to see other articles the writer has written, how often he/she writes, and potentially get access to his contact information. If John at XYZ publishing is the perfect writer for your story, contact him.
The Contact
Now you’ve got your ideal writer at the ideal publication, you’re one step away from getting your story out there. What do you do?
Most people that get this far, but still screw up. Do NOT simply copy & paste you Media Release (stop calling it press releases, it’s too old-school) and email it over to the writer. THIS IS WRONG!
The writer now feels like he’s a robot and not a human being. Your chances of being featured have now significantly dropped, unless you have an AMAZING story. We’re going to pretend like you don’t and approach this the right way.
You will craft an email to John at XYZ publishing where you will praise him and thank him for his great work. You will introduce yourself and explain in just a few sentences the value that you bring. An example of this email would be:
Hey John,
I loved your article on “Social Media Marketing Tips” from Friday. I thought you did a great job discussing the influence Pinterest will have on businesses in the near future.
I wanted to introduce myself. I’m a 20 year old entrepreneur, digital marketing consultant, author, and public speaker. If you ever need insight on any other future articles that revolve around digital marketing, I would be happy to offer my expertise. I’m extremely passionate about digital marketing and offer a unique perspective on the topic due to my young age.
Here’s also a link to my website if you do want to learn a bit more about me, www.JeetBanerjee.com. Thanks again for a great article and I hope to talk with you more soon.
Thanks,
Jeet
That’s it! Compliment him on a recent article, share who you are and why you matter, and then leave him some basic information before ending the email.
The Close
Just like anything in business, you have to be a damn good closer to get what you want. Pitching to media outlets is also much of the same. You’ve just finished sending your email to the writer and have done everything right so far.
You still may not get the feature you’re looking for unless you close very well. The writer may just email back saying, “Thanks so much for the kind comments. I will keep you in mind for future articles.”
As nice as that may sound, it means he will forget about you and never really feature you in his future articles. To close these writers, you need to constantly remind them of your presence and build a positive relationship with them.
One email isn’t enough to get you in their radar. From here, you will want to keep a tab on this writer and email him every 2-3 articles he posts. Now instead of introducing yourself, you can continue sharing your perspective on his articles to show him how well you know your stuff.
Sometimes this process can take months! It’s all about following up and building a relationship with writers. Writers don’t want you to be their friend just for the 5 minutes they write an article on you. They’re looking for people who are looking to build positive relationships with them.
In December of 2012, I established a great connection in NBC. I was told by the reporter that he would get an article done on me sometime that month. Fast-forward to today and a ton of following up, he still wants to do the article on me but has to wait.
It’s not an easy process getting yourself in big media outlets, but the rewards are well-worth the effort.
Conclusion
Mastering the art of PR is extremely tough. It takes a lot of hard-work and practice, but the rewards are worthwhile. This is the ultimate PR guide for entrepreneurs looking to successfully place themselves in major media outlets. If you have any questions or comments, please feel free to share them below!
Whether or you’re running a business, an aspiring an entrepreneur, or someone looking for opportunities, networking is essential to your success. It can be tiring and tedious, but the results from networking are often extremely rewarding. In order to get the most out of your networking sessions, here are 5 networking tips to master:
Whether you’re running a business, an aspiring an entrepreneur, or someone looking for opportunities, networking is essential to your success. It can be tiring and tedious, but the results from networking are often rewarding.
In order to get the most out of your networking sessions, here are 5 networking tips to master:
1. Come On Time
As someone who goes networking very often, I’ve realized that being late can quickly ruin a networking session. When you arrive late, everyone has already assembled into their groups and began networking.
When you come early, it’s easy to find conversation partners and you’re able to network in a far more relaxed manner. Coming late makes it difficult to fit in causing you to miss out on many networking opportunities.
2. Stop Pushing People Away
The biggest way to lose a connection is by selling, selling, and selling! You talk to someone and suddenly they begin talking about how great their business is and how you can definitely utilize their services.
I immediately begin looking for my next conversational partner when this happens. Stop selling your services and just have a nice conversation. Share your passion, what you do, and why you do it. Ask the other person to share exactly the same.
If they can help you with anything you’re doing or vice versa, share how so. Otherwise, exchange business cards and thank them for the great introduction. They will remember what you do and if they ever need your services, they will get in touch with YOU.
3. Be Friendly
If you want to be approached by more people, look as friendly as you possibly can. Be sure to smile, talk nicely, and always be polite. Being friendly is extremely important if you wish to have a positive networking session.
4. Avoid Awkwardness
Anytime you’re meeting new people, things can get a little awkward. It’s all about being smooth and avoiding awkwardness to ensure that both conversational partners have a good time.
You always want to ask easy questions when things seem to be getting awkward. Common easy questions include, “What brings you to this event?” or “How’s your day going?”
In times where you can’t find a conversational partner, join a group. The easiest way to do this is by joining in and saying “May I join you guys?” For those of you who aren’t extroverts, you can also learn a lot about people by simply listening to their story.
5. Do It Because You Want To, Not Because You Have To
The last networking event I went to, I met a guy who hung out by the chips and dip. While there’s nothing wrong with that, he was at a networking event but not chatting with anyone.
I thought he might be extremely shy, so I decided to make the extra effort and talk to him. After talking to him, I realized he really didn’t want to be here. He was sent by his boss to this networking event even though he absolutely hated these types of things.
This guy surely didn’t make any valuable connections during this session and probably didn’t talk to anymore than 5 people throughout the night. If you don’t want to network, don’t do it. Forcing yourself to network is extremely tough and people will catch the bad vibe.
Conclusion
Regardless of what you do, networking is a valuable experience. You meet new people, open new doors, and possibly make lasting connections with people. These are 5 networking tips that can help you greatly when mastered.
The majority of the popular subscribes to a very common approach to life. However, entrepreneurs take a very different path. They take a journey that is full of risks, fuzzy futures, and big dreams. This blog article will go in-depth to discuss more about what an entrepreneur’s approach to life is in comparison to the general person.
This is a guest post by Tyler Basu.
The majority of the population subscribes to a very common formula for approaching life. That formula is this: do well in school, so you can go to college/university, so you can get a good job. While that approach may have been wise in an early time, in the 21st century it is not the wisest approach, at least from a financial perspective.
The statistics reveal the flaws in this approach. The average adult changes careers 5-7 times, often due to forces beyond their control (layoffs, outsourcing, etc.). The average employee will not be able to afford a dignified retirement at age 65.
The average college/university graduate enters the workforce with tens of thousands of dollars in student loan debt, and their starting salary is almost always below what they expected. Evidently, trying to achieve financial success using this approach is an uphill battle.
I wish that I had been taught a different approach to life from the public school system. Fortunately, I was wise enough to seek out a different approach on my own. The one I discovered belonged to the entrepreneurs of the world.
They approach the game of life in a completely different manner. They avoid the other approach at all costs, and are often ridiculed by the masses because of it. But when they succeed, they are the envy of those same people who once ridiculed them. Their approach is this:
– What kind of lifestyle do I want to be living in the future? (Vision)
– What kind of business will provide me that lifestyle? (Mission)
– What steps must I take to make it happen? (Goals)
VISION:
“The best way to predict the future is to create it.” – Peter Drucker
Your vision for your life must be holistic; it must include all the areas of your life – not just your business. How healthy will you be? How much time for family will you enjoy? Will you have an active social life? What kind of career/business will you be devoted to? What will your annual income be?
How often will you travel? Will you work on weekends? Will you work from home? What kind of car will you drive? In what city will you live? These are just some of the questions you should be asking yourself. Collectively, the answers to these questions will formulate the vision for your life.
MISSION:
“Don’t set business goals and then try to fit your life around those goals. Set lifestyle goals and create a business that supports that lifestyle.” – Unknown
Once you’ve identified a vision, the next step is to determine what approach has the highest probability of resulting in the materialization of that vision. While there are some exceptions, in most cases a job will prevent your life’s ultimate vision from materializing. But quitting your job just for the sake of quitting is not a good strategy either.
A good starting point is to identify several individuals who are living the lifestyle that you want, and then determine how they got there. Did they start a business? Did they invest in real estate? Did they publish a best-selling book? What did they do to get there, and could you do the same? Would you enjoy doing the same? If so, it is time to get started.
GOALS:
“Setting goals is the first step in turning the invisible into the visible.” – Tony Robbins
Once you’ve identified a vehicle that will enable you to materialize your vision, the next step is to break the process down into actionable steps (goals). Beginning with the end in mind, identify the process required to achieve that end.
Trace that process back to its first steps, and get started now. By taking consistent steps in the right direction, day after day, eventually your goals will be accomplished. The materialization of your life’s vision is your reward for accomplishing your goals.
Final thought:
It may be easy to visualize that perfect lifestyle that you want to enjoy in the future. What won’t be easy is making it happen. There will be obstacles, setbacks, disappointments and sacrifices along the way. Your persistence must be relentless, but your approach must be flexible.
Sometimes the strategy you start with will open the door to another strategy later on. Sometimes the strategy you start with won’t work at all, in which case you will be forced to find a new one. The point is, never compromise your vision. Change your mission and your goals if you have to, but never sacrifice your vision.
Creating a new business is confusing, exciting, and a lot of hard work. Over my time as an entrepreneur, I’ve screwed up a lot and learned even more. Launching a startup has many variables to it. Mastering all of them (especially on your first try) is nearly impossible! From connecting with thousand of entrepreneurs across the world and my experiences as an entrepreneur, I’ve seen the same mistakes occur very often. Here are 5 startup mistakes you should avoid.
Creating a new business is confusing, exciting, and a lot of hard work. Over my time as an entrepreneur, I’ve screwed up a lot and learned even more.
Launching a startup has many variables to it. Mastering all of them (especially on your first try) is nearly impossible!
From connecting with thousands of entrepreneurs across the world and my experiences as an entrepreneur, I’ve seen the same mistakes occur very often. Here are 5 startup mistakes you should avoid:
Mistake #1: Spending More Time On Building And Less Time On Sales
I’m all about creating a great product that your customers will love, but entrepreneurs fall in love with the building process. It’s a great thing, but it can be very costly.
At the end of the day, a business is defined as an entity that pulls in revenue from selling products, services, or information/ideas. You can spend years building the greatest product in the world, but it means nothing unless people are buying it.
Building a great product is essential, but never lose sight of the big picture. Revenue is what enables your vision to come to life and helps you create a successful business. Always spend more time marketing and selling your products!
Mistake #2: Trusting Strangers Too Easily
As a young entrepreneur, I had to find strategic partners to fill holes in my startup. I was young and naive, which made me easily believe everything strangers told me.
Believe it or not, people have sold me on crazy dreams. So crazy that I actually went home and created a contract giving them equity in my businesses after just one meeting. Why? Because they glorified my image of success and I believed everything they said.
Luckily, I always placed performance clauses in my contracts, which saved me quite a few times. However, I would bring people in who would sell me on big dreams, but never ended up doing anything.
As entrepreneurs, we meet a lot of new people who can potentially have big impacts on our businesses. It’s easy to talk the talk, but it’s much harder to walk the walk. Be careful who you give out equity to and make sure your ass is always protected!
Mistake #3: We Can’t Do It Without An Investor
For some reason, most entrepreneurs look at investors as their first option. However, investors should be your LAST option! Why?
Imagine this, you’re sitting on a brilliant idea that doesn’t need hundreds of thousands of dollars to make successful. Investors are going to take equity in your company and dilute the founders percentages.
Now the 50% you hold in your business just became 30%. You get $250,000 in seed money, maybe even a nice salary, but you just lost your startups soul.
Not only does your investor get paid back $250,000 first (in most cases), but he now gets 40% of all the money that is made in your startup. He doesn’t do much work (after he puts his $250,000 in) while your founding team slaves away.
The biggest regret I hear from entrepreneurs who have venture funding is the decision to go for funding too early. If you can come up with any amount of money yourself (even $100), invest it yourself in the business.
If you have a mortgage to pay, but enough money in the bank to pay it, you’re not going to borrow money from your friends. The same principle applies to your startup. You don’t need a ton of money to make your startup successful.
Grow slowly if you have to, but find every way possible to make your business successful without the help of investors. If all else fails, find investors to fund your startup.
Mistake #4: Customer Development Is Non-Existent
Customer Development is one of the biggest principles of entrepreneurship. You can only create a product that your target audience is willing to use, pay for, and enjoy.
I see too many entrepreneurs make the deadly mistake of creating things they think are good ideas. It’s great that you love your idea, but do others feel the same way?
Once you build the idea, you’re going to be talking to your demographics with hopes of closing them into customers. When you have a great idea, screw intellectual property or creating a prototype.
Go find your target audience and ask them about the product. Ask them what they think, how much they would pay, if it’s a viable option, and any other negative feedback they can give to you about the product.
When you have nothing built, it’s easy to pivot and make changes to your idea. Listen to your customers (hundreds of them) and take notes. See the common patterns in your data and use that to create your product. The sales process down the line becomes a hundred times easier because you know what your customers think.
Mistake #5: Focusing Too Much On Growth
Growth is an exciting thing for anyone. However, growth is also extremely dangerous in a startup. I’ve seen too many startups fail because they try to grow way too soon.
If you have a product or service that is successful, why should you grow your business? Unless you’ve captured as much market share as possible with your initial product/service, you really shouldn’t be growing.
Why break away from a good thing to an unproven idea or product? You really shouldn’t! Focus on your product or service that is finding you the most success. It takes years to capture your market and that is the only time when you should be growing.
I’ve seen startups grow into new areas within few months of launching, which is absolutely ludicrous! You spend months, if not years creating a great product. You should only grow or expand once that great product is getting close to reaching its full potential.
Conclusion
Running a startup isn’t an easy job. The entrepreneurship lifestyle has been glorified by the success stories posing next to their Lamborghini’s, but the rewards require a lot of hard work. Hopefully this list of mistakes to avoid will help expedite your startups path to success!
Entrepreneurs are very different people. They have something about their personality, ethic, and charisma that just shines. Are you an entrepreneur or someone who is aspiring to be one? Most entrepreneurs share a lot of common traits. Here are 12 signs you’re an entrepreneur.
Entrepreneurs are very different people. They have something about their personality, work ethic, and charisma that just stands out.
Are you an entrepreneur or someone who is aspiring to be one? Most entrepreneurs share a lot of common traits. Here are 12 signs you’re an entrepreneur:
1. You Love Beating The Norm
Are you someone who hates doing what society expects of you? Entrepreneurs love breaking rules and doing things on their own terms.
The word is FREEDOM. Entrepreneurs love freedom in anything and everything they do. They defy odds, do what society least expects, and embrace originality.
2. Control-Freak
Okay maybe not a complete control-freak, but you love to be in control. Entrepreneurship gives you the ability to etch out your own future and destiny. You’re the owner of your future.
Entrepreneurs love control and being in the driver seat of everything they do. If you love being in control, you will probably make a great entrepreneur.
3. Hustlers Ambition
Instead of opening a lemonade stand when you were 8, did you supply all your friends with the lemonade? Entrepreneurs always have a little hustle in them from an early age.
When I was 9 years old, I wanted to create a website and make money from it. I made the website, but failed at making money. The point was, I still wanted to make money at that young age. Entrepreneurs always have a lot of ambition and hustle in them!
4. Nobody Wants To Hire You
I forgot the percentages, but there’s actually quite a few entrepreneurs that had to create their own company because NOBODY would hire them. Don’t worry, it’s great because 9 to 5 jobs suck anyway.
If nobody wants to hire you, they probably think your a handful to manage. Entrepreneurs are hard to manage because they are creative thinkers and want to be FREE.
5. People Think You’re Crazy
You share your big dreams, aspirations, and goals with others and they simply look at you like you are crazy. I have some huge goals for myself by the time I turn 25 and every time I tell people, they think I’m crazy!
Since I’m on this topic, I’ll share what my goals by the age of 25 are:
– I want to become a global brand
– Through my startups, I plan to impact millions
– I wish to attain at least $5 Million in wealth
– I want to be able to take one of my startups and turn it into a big business
– I want to give back to the world once I turn 25
And those are just a few of the goals I want to accomplish before I turn 25. Some of the most successful entrepreneurs were once told that they were absolutely crazy for what they were trying to do. Now that they have accomplished what they said they would, who’s the crazy one?
6. Satisfaction Rarely Exists
I’ve often talked about why the wealthiest people in the world are so wealthy. I attribute it to a constant hunger to attain more wealth. Satisfaction is a dangerous thing.
If you’re satisfied with success, what you earn, or where you’re at…….you will never grow from that point. Entrepreneurs are NEVER satisfied. Make a million dollars, ask yourself why it wasn’t 2 million dollars?
Growing up, my parents were proud of my accomplishments but they were never satisfied. They expected me to be better because they knew I was. I score the winning basket at my NJB game and they say “Good job, but why did you have 4 turnovers?” The hunger to always do better and achieve more lives within entrepreneurs.
7. Confidence Is A Stain They Can’t Wipe Off
Entrepreneurs aren’t cocky, they’re just confident. However you look at it, confident entrepreneurs have proven that they do it better.
Confidence is a great thing and if you have it, embrace it. It’s one of the key traits one must have to become a successful entrepreneur.
8. You’re Okay With Getting Paid Later
Entrepreneurs are willing to work for free. In order to have a better tomorrow, you must sacrifice today. Society has programmed us to always receive money for every period of time we work for.
However, entrepreneurs understand that you must work for free now in order to get paid in the future. They have no problem with it and they love it, because they know the returns will far-exceed any 9 to 5 job.
9. Sleep Is For The Broke
Once you’re grinding away on your business, sleep is really unnecessary. You only sleep when you really can’t stay awake longer.
Do you ever find yourself doing something and simple get immersed in it? Entrepreneurs are born and bred in that manner. They take rest only when they need it.
10. TGIM
Screw TGIF. It’s all about TGIM (thanks to Eric Thomas for creating this amazing day for entrepreneurs). Thank God It’s Monday!
Entrepreneurs are happy to see Monday’s hit. Businesses open and entrepreneurs can go back to making money, which is always a great thing. Love your mondays just as much as your Fridays!
11. Work Hard, Play Harder
Entrepreneurs go hard. I’ve been to all the conferences and events with entrepreneurs, I know what you guys do once you turn off the laptop. Hell, I’m an entrepreneur myself!
I know what it’s like. Entrepreneurs work hard, but they play harder. Entrepreneurs enjoy every minute of life (inside and outside of the workplace).
12. You’ve Been Taking Risks All Your Life
Entrepreneurship is a risk. Anyone who tells you otherwise is simply crazy. Risks aren’t a bad thing though.
I love risks. Without risks, there is no adrenaline rush and conquering obstacles just don’t feel the same! Entrepreneurs aren’t scared of taking risks, they love the challenge and do everything possible to make it happen.
Conclusion
Are you an entrepreneur already? Or are you trying to see if entrepreneurship is the right path for you? Nevertheless, these are some of the most common signs you’re an entrepreneur. Share what signs told you that entrepreneurship was the right path for you!
