[ad_1]
Ethan “Haze” Hayes, 22, started making beats in the summer of 2019, right before his freshman year at Bryant University.
Hayes had a musical background — he’d played the piano from a young age — and picked up the hobby for fun after watching people create their own beats on YouTube.
But Hayes’ newfound past-time would become a lucrative side hustle, then a full-blown music career, while he was still a college student.
[ad_2]
Amanda Breen
Source link
[ad_1]
Opinions expressed by Entrepreneur contributors are their own.
End-of-summer burnout isn’t just about feeling run down after spending too much time by the pool or embarking on a long road trip with your family. Those types of activities can indeed burn you out by the end of the summer.
Specifically, I am referring to how we burn ourselves out professionally. Even after many balmy summer days, most of us still have to work while juggling all the summer social activities and events. And that’s definitely a challenge when dealing with obstacles like FOMO or collaborating with others when they are on vacation.
When left unchecked, you may experience end-of-summer burnout, rearing its ugly head in the form of:
[ad_2]
John Rampton
Source link
[ad_1]
Opinions expressed by Entrepreneur contributors are their own.
Throughout the journey of starting, launching and growing a business, you’ll feel like you’re on a never-ending rollercoaster of highs and lows. One day you’re jumping for joy because a big customer says yes to launching your new product in thousands of stores, and then the next day, you’ll be slammed in the face with yet another disappointment or stress-inducing challenge. And so goes life as an entrepreneur… but the good news is, you have the power to decide how to respond to every curveball life throws at you.
So, to help you become a superhero in business, here are a few words of wisdom to live by.
As an entrepreneur and an executive with over 20 years of experience in business, like many people, I’ve faced more rejection than I can count. From being ghosted by retail chain buyers to hearing no from customers I’ve worked hard to earn, rejection is an inevitable part of this experience. However, in moments like these, we truly find out what we’re made of.
But, on the flip side of all these disappointments, I’ve been fortunate to experience great success and amazing opportunities in various facets of my businesses (including working with hundreds of the top brands and retailers on the globe). So I know both sides of the coin and am grateful for all the pivotal moments on my path to success.
Related: 5 Ways to Turn Rejection Into Resilience
I believe that we’re drawn to entrepreneurship because we have a vision of a better life — for ourselves, our families and the world around us. That said, my father was one of the men who inspired my entrepreneurship journey.
My father was a self-made serial entrepreneur and a true example of the “American Dream.”
As a high school dropout from New York who had to get a job shoveling snow to help his struggling family earn a living, he ultimately ran and launched multiple businesses. In his early years, he served in the military, bussed tables and became a door-to-door salesperson. Ultimately he became the Publisher of the first single-volume African-American history encyclopedia (during the Civil Rights movement) called “In Black America.” This encyclopedia helped thousands of men and women earn a living while empowering their communities and families. My father then went on to run a successful merchandising company. He most recently built Creative Balloons Manufacturing Inc., our family-operated global business celebrating its 50th Anniversary this year, helping millions of people and brands celebrate life’s special moments with fun-filled balloons.
Over the years, he taught me many valuable lessons in entrepreneurship, especially regarding overcoming challenges and rejection.
Since my father never had a formal education, he realized at an early age that he’d have to be more resourceful and hard-working than most, so he became street-smart and ultimately learned what it takes to start and run a global business, one that has proudly been a national supplier to major chains like McDonald’s for over 45 years.
Don’t let your education or lack thereof prevent you from feeling worthy or deserving of pursuing your passions and becoming successful. Always remember — if all else fails, just Google it (or, for that matter, just read an article by Entrepreneur). Where there’s a will, there’s a way. And as Marie Forleo says, “Everything is figureoutable.”
Related: 5 Steps Entrepreneurs Need to Take to Overcome the Fear of Rejection
As a kid, I vividly remember hearing my father on the phone calling one potential customer after the next, which ultimately helped him land many national accounts (including Burger King, Carl’s Jr., Mrs. Field’s Cookies and more). Whether we dream of developing a prototype for an innovative new product, landing a major client or changing the world with our revolutionary products or services, we have to believe in the purpose behind what we’re doing. Keep waking up each day to reach your goals and win. Even A-list athletes have bad days and losses, so keep striving, working hard and believing you’re a winner. You have to envision success first to achieve it.
Related: Rejection Is Part of Entrepreneurship. Here’s How to Handle It.
Want to land that big chain? Go pitch them! Looking to score a key investor? Send them a presentation deck. While you might not get a positive response from everyone you contact, all it takes is one “Yes” to open the door, leading you toward the next open door. And while you’re hearing no’s, do your best to find out why — was it the wrong timing, do you need to tweak something in your pitch, etc. Look at rejection as a form of redirection or recalibration.
Just remember that Bill Gates pitched to 1200 investors, out of which 11 said yes. Because of the few who aligned with his vision, he’s now one of the world’s most influential and successful people. So, even if you’re rejected, you can still skyrocket to success.
Bottom line: Never be afraid of rejection. Yes, you will hear a no, or worse, you’ll get ignored, but unless you try, you’ll always wonder, “What if?!”. And more importantly, you’ll never hear a yes unless you’re willing to ask for what you want.
[ad_2]
Christina-Lauren Pollack
Source link
[ad_1]
This article originally appeared on Business Insider.
The average UPS driver could earn up to $170,000 under a new contract that’s ruffling feathers in the tech world. But you don’t have to get behind the wheel or learn how to code to earn even more money at In-N-Out Burger.
The average pay of a store manager at the iconic fast-food chain is more than $180,000 per year — an amount that includes store profit-sharing, according to a new book penned by In-N-Out owner Lynsi Snyder. That’s well above industry standards, where the annual mean wage of a restaurant food manager is $63,820, according to the Bureau of Labor Statistics. At Chipotle, a general manager’s average compensation is about $100,000.
“Yes, we pay well,” Snyder wrote in the book “The Ins-N-Outs of In-N-Out Burger: The Inside Story of California’s First Drive-Through and How it Became a Beloved Cultural Icon.”
Lynsi Snyder, the owner of In-N-Out, reveals new details about her family’s business in her new book, set to be released in October. Lynsi Snyder via BI
The October release of the book coincides with the 75th birthday of the Southern California burger institution. Insider received a copy of the 208-page book, where the billionaire burger heiress reveals how her grandparents, Harry and Esther Snyder, built the business into one of the most beloved and respected fast-food chains in the US.
One secret to In-N-Out’s success is paying employees top wages – from burger flippers to managers.
“Offering the highest wages in the industry is one way we attract the best people to care for our customers,” Snyder wrote in the book.
Harry Snyder believed investing in people creates loyalty. Lynsi Snyder noted how her grandfather, in the early days of the business, loaned one of his workers $600 to buy a car so the employee’s father wouldn’t have to pick him up from late-night shifts.
“He knew that to develop loyal helpers, he needed to provide them with promotions, more responsibility, and more pay,” Snyder wrote. “He wanted his young hires to not only be able to afford cars, but also be able to buy houses, get married, and start families.”
But, Harry Snyder was a stickler regarding quality control and training. He didn’t hire just anyone to run his stores.
To become an In-N-Out manager, you must work up from the bottom and learn every role necessary to run a restaurant.
In the book, Lynsi Snyder describes how employees are rewarded, from entry-level cashiers to six-figure salary managers.
Entry-level employees are taught how to interact with customers “with a smile and genuine friendliness.” They also learn how to take orders accurately at the counter or through the drive-through.
Produce handling comes next. Employees learn to core and slice tomatoes, peel and dice potatoes, hand-leaf lettuce, and chop onion. Then, they are trained to host customers in the dining room.
“Each role comes with its own pay raise and job level,” Snyder wrote.
Once employees learn these early tasks, they can be “trusted with our burgers,” Lynsi Snyder wrote. She points out that “flipping burgers” is a “big achievement” at In-N-Out, not something someone settles for when another job doesn’t work out.
“When you flip burgers at In-N-Out, you’re in the captain’s chair. You’re steering the ship,” she wrote. “It’s no small task to get every single burger perfect.”
The average store manager has been with the company for over 15 years. In-N-Out supports employees through leadership training, Snyder wrote. In-N-Out champions a “slow growth” philosophy.
“Long ago, we decided to grow only as fast as we can develop quality leaders,” she wrote. “Strategically, that means that every operations leader has done the exact jobs as the associates they’re leading….they earned their way into their roles.”
In-N-Out, which has nearly 400 locations in the US, has remained a privately run family business since the Snyder family founded the company in 1948. Lynsi Snyder, 41, inherited control of the family business in 2017 and became one of the youngest billionaires in the US. Since becoming In-N-Out’s president in 2010, Snyder has expanded In-N-Out’s footprint to three new states — Texas, Oregon, and Colorado.
[ad_2]
Nancy Luna
Source link
[ad_1]
Opinions expressed by Entrepreneur contributors are their own.
It’s easier than ever to feel lost — lost in the workplace, lost in your personal life, even lost in your overall purpose and mission as a human being. I personally blame a lot of this on social media. It’s the perfect concoction for depression, anxiety and the feeling of not knowing what path is right for you.
A couple of hours on the Zuckerberg Express (a.k.a. Facebook) and you’ll be fed other people’s successes so much you’ll start to doubt your own. A video of a fix-and-flip specialist will quickly make you think you need to stop what you’re working on, buy houses and renovate them yourself. You’ve never held a hammer and you don’t know what HVAC stands for, but if this 30-second video on Instagram taught you anything, it’s that the time is now…
Excuse my sarcasm, but even as I’m writing, I’m reminded of the ridiculous paths I’ve gone down thanks to social media. That’s a story for another time though. Through exploring and failing on many of these voyages, I’ve learned a tried and true method to keep me goal-oriented and combat as much of the social media facade as I can: whiteboarding.
Yes, you read that right. Structured and creative time away from all other work and life needs, with just a whiteboard, a marker and your thoughts. In my nine years as a business owner, I’ve found whiteboarding to be the single strongest tool for fine-tuning my ideas, innovating and niching down. Below are the three biggest rules I use for effective whiteboarding.
Related: The Whiteboard Method: 5 Easy Steps to Discover Your Niche and Turn Your Passion Into a Career
Before you start, remove the eraser from the room. It’s so easy to get hyper-critical of what you’re writing when you know you can erase it. By operating under the “no idea is a bad idea” philosophy, I’ve been able to discover new revenue streams for my business, fine-tune my goals and more. Not erasing anything is a great way to leave thoughts up on the board for further development. Sometimes an idea I quickly jotted down — that I would’ve erased in real time — just needed some further tweaking. That idea later became a huge component of my business moving forward.
I like to do 20-minute sprints, but find an amount of time that feels comfortable for you. Remember, this exercise is for you. If 20 minutes is too long, do 10. If 20 minutes is too short, do 30. This is your time.
Turn a timer on and turn everything else off for whatever amount of time you decide. I like to stand up in front of the board (sometimes even pace) and write as much as my brain and hand will let me. After the allotted 20 minutes, I sit down and spend time reading and digging into each thought. Oftentimes, this is where I’m able to expand a simple thought into something much more developed and fleshed out. If I feel like I hit an “aha” moment, I take a photo of the board, then erase and flesh that idea out further. If I didn’t, I spend some more time reading and digesting, then I take a photo and get back to my work. Not every time will be one of those euphoric highs we all love about entrepreneurship and finding new ideas, but the simple act of doing this frequently creates clarity.
Related: How Journaling Can Make You a Better Entrepreneur and Leader
I personally do these whiteboard sessions once a week. I’ve found that to be frequent enough to work through things, but not so frequent to the point of wasting time or energy on the same thoughts over and over. If I’m feeling extra lost that week, rather than adding an extra session, I prefer to jot it down to work on at my next whiteboarding session. Routines are everything.
A lot of people talk about the power of whiteboarding in groups for creative brainstorming. I find that to also be an effective way to pull ideas out of a group, but the sessions need to be structured enough to not be a time suck for everyone and the groups need to be small pods before opening them up to bigger teams.
When my business partner Ian Rodriguez and I launched Innovo, we’d spend hours behind a whiteboard taking turns workshopping every little detail and idea. Those days were extremely effective for clarifying who we were and what we wanted to accomplish.
Once your business is moving you obviously can’t spend hours weekly doing those sessions though. In my opinion, the best go-forward strategy I’ve found here is to whiteboard solo, develop some thoughts and opinions, then bring your partner(s) and team in to take it to the next level. This allows for personal clarity as well as tapping into others’ skill sets and ideas.
Ideas are good, but clarity is great. Don’t be afraid to challenge yourself through whiteboarding — it’s become my secret weapon in entrepreneurship.
[ad_2]
Sam Saideman
Source link
[ad_1]
Opinions expressed by Entrepreneur contributors are their own.
Have you ever wanted to reach through the screen to interrupt a TED Talk speaker or raise your hand during a MasterClass course?
You’re not alone.
Entrepreneurial education has dipped its hand into the sexy jar of sweet offerings never before experienced by knowledge-desperate entrepreneurs in wait. New offerings weave incredible real-life, story-based content with thought-provoking presentations and platforms harnessing iconic names and faces of the brands we love.
Many have wondered what the next iteration of offering might provide that hasn’t already been served up to an ever-growing marketplace of need.
An A-list of celeb entrepreneurs shared behind-the-scenes experiences for attendees at the Wealthflix business conference’s inaugural event in L.A. earlier this summer. The list includes Magic Johnson, Daymond John of Shark Tank, Sprinkles founder Candace Nelson, branding superstar Shaun Neff, Beyoncé’s father and noted music executive Mathew Knowles, former Virgin executive Jason Felts, and Ashlee Simpson-Ross — all mixing classic tales with never-before-heard nuggets of personal experiences not usually touted in business books.
Related: 8 Important Lessons From Leading Entrepreneurs
The classic fourth wall that marks an actor’s acknowledgment of the audience was shattered by the presenters and for good reason. The celebs shared best practices and lessons learned through stage speeches and sit-down interviews to enhance the learning for audience members. The shared realism of the Magic Johnson’s of the world couldn’t come at a better time.
The data can no longer be seen as a cute detail at a cocktail party of those already in the catbird seat. The Kaufman Foundation’s research reveals that 100% of net new job creation in the U.S. comes from the world of startups. The U.S. Bureau of Labor Statistics shines a different and compelling light, including the staggering statistic that 37% of minority youth are unemployed.
To meet the moment, Duquan Brown, the former manager of artists like Tyrese Gibson and Busta Rhymes, has put together an experience centered on dismantling outdated educational practices while infusing networking opportunities and behind-the-scenes interviews and conversations that bring entrepreneurs inside the mind of a Magic Johnson or Daymond John. “Thoughtful learning options provide all of us an incredible opportunity to support entrepreneurs and the journeys that define their success,” shares an impassioned Brown.
Recent labor data illustrates an expanding need, especially for Gen Zers, to find entrepreneurial education. Approximately 70% are considering a permanent stage left exit to start their own companies. Analysts might scoff at the impact of a labor pool representing just over 8% in 2022. How will the naysayers feel in 2025 when that number jumps to 20% and then to 30% by 2030? This generation is marked by a need to feel connected to their work and the stories that constructed their individual horizon lines.
On the one hand, Magic Johnson, who may be just as well-known for his business triumphs as an NBA Hall of Famer, believes that an entrepreneur’s pitch should be perfect. “When you come into a meeting and pitch your idea, I expect you to have the answers. If you don’t have the answers, how can we establish trust,” exclaims a passionate Johnson. When pushed for clarification, a never-nervous and always-prepared Johnson says, “I eat pressure for breakfast — if I ask you five questions and you can’t meet the moment, then you’re not somebody I want to do business with.” It’s this kind of brass-tacks education that audience members clamor for and why an alternative approach is just as welcomed by entrepreneurs.
Daymond John started with $40 in his pocket when he founded FUBU, and even back then, he struggled to find his answers in a sea of uncertainty. Fast forward to today, and John works diligently to educate and support those lucky enough to present their business ideas to him. “I am of two minds. If you come to me acting like you know everything and I find that you don’t, we won’t make perfect business partners. Now, if you openly respond to a question saying you’re in front of me because you don’t have the answer, well then I respect that,” says John with the steady, steely-eyed focus we’ve become accustomed to on Shark Tank.
The semi-structured but moderated conversation allows John to freestyle, sharing that the “hacking” phenomenon plays a significant character in his success story. “I used to hack myself, constantly testing my assumptions against those things that have meaning in my life — kids, family, friends, community.”
The founder of Sprinkles, Candace Nelson, embraced the family notion of going into the cupcake business with her husband, Charles and celebrating the profoundly successful Sprinkles exit even after 22 years of marriage and counting. “It just works for us. I know that people say never to go into business with family. We understood our roles and allowed each other to grow in those roles,” shares Nelson whose cupcake empire has sold over 75 million cupcakes.
The challenge for Nelson and countless entrepreneurs comes when success is knocking on the door, and control has to cede if scaling is a realistic option. “I struggled to incorporate others into the business at first. Would they know how to bake my recipes? Could I trust them? I finally relented, and outside of a few hiring learning lessons, it became a huge success.”
Magic adds, “We [entrepreneurs] shouldn’t be afraid of partnerships. You don’t have to own 100%.” A prescient statement by Magic as news now breaks of Johnson’s ownership stake in the NFL’s Washington Commanders, with Josh Harris, as the sale became official at the reported tune of a record-breaking $6.05 billion.
Jason Felts, the youngest CEO of a Richard Branson Virgin company, embodies the notion of Johnson and the lesson of Nelson, building KEMPA Home with a family friend and cultural icon, Ashlee Simpson-Ross. “We had been friends for decades. Our families have been friends, and we always shared our thoughts about our careers. I wanted to start KEMPA, and it dawned on me that Ashlee should be a part of this. Now the Creative Director Simpson-Ross is harmonizing her creative and musical muscle to bring “vacation home” with Felts and the KEMPA team.
Related: From Idea to Successful Exit — 8 Lessons Learned From Building and Selling a Startup
Like many who shared the stage with her in L.A., Candice Nelson sees collaborating and teaching as essential building blocks for the next generation of business owners. “We’ve launched Pizzana, a chain of Neapolitan pizzerias, and continued to expand our portfolio of investments with CN2 Ventures supporting early-stage businesses.” Pizzana, of course, isn’t just your run-of-the-mill outfit – a collaboration borne out of Sunday night pizza parties with their friends and now business partners, actor Chris O’Donnell and his wife, Caroline.
Shaun Neff, a branding expert whose little black book of influential business partners reads like a once-in-a-lifetime Hollywood Hills summer bash, remembers the days before collaborating with the likes of Kevin Durant and Kendall Jenner. “I still remember the feeling when somebody would hand me a $10 bill, and I’d reach into my backpack and hand them a t-shirt with my name on it. And, then, to see my merch worn by recognizable and global figures. Unbelievable,” a reflective Neff shares.
Neff talked about community and brand building throughout his career, shedding light on the confidence level necessary to establish and bring a brand back from the dead. “I remember Sun Bum vividly. I was asked to come in, invest, and turn it around. I didn’t want to do it. I woke up countless times convinced I shouldn’t jump in. I’m glad I did,” smiles Neff. You’d smile, too, if the reported sale to SC Johnson of $400 million is accurate. Neff, though, isn’t celebrating success the way one might think. This self-proclaimed creative junkie hails the opportunity to be selective and creative with projects that align with his life and family. “I just feel blessed.”
The lessons from the star-studded celeb entrepreneurs were diverse, filled with poignant tales and anecdotes, and steeped in a shared passion for giving back to those on the precipice of success. Johnson delivered a pin-point pass sharing the realities of entrepreneurship even if he is the undisputed champion of optimism. “I don’t want people to think that every deal I’ve been a part of has succeeded because that just isn’t true. We all need to learn from our mistakes and ensure that they [mistakes] don’t happen again.”
Effortlessly, Magic provides sage advice minus the shine of an over-produced sound bite for an engaged audience to chew on.
[ad_2]
Dr. Rod Berger
Source link
[ad_1]
Opinions expressed by Entrepreneur contributors are their own.
During the recent pandemic, many startups had to rethink their business models. In some cases, this meant refocusing on their core business and determining how well they served customer needs. In other cases, startups had to change their business models completely to succeed.
Now that the world is back to normal, I recommend that startups place a new urgency behind becoming more visible and keeping their momentum going. Methods to do so include attending or speaking at events, competing in startup competitions and establishing new customer or partner relationships. Taking advantage of such opportunities will help startups emerge stronger than ever before from the pandemic.
Around the world, I see event organizers switching from virtual events to hosting in-person events. I recommend that startups take advantage of this opportunity to increase their visibility. Startups can research which events are the most relevant based on event themes and the typical attendee profile. At technology and business events, attendees often include corporate executives, other startups, potential partners and customers and investors. Most events publish in-depth profiles of their attendees, so startups can study these ahead of time and determine which events are the best fit.
Before any event, take advantage of event websites and apps to see who is attending. This allows you to reach out to set up networking meetings ahead of time. Journalists often attend business and technology events, so there’s a good chance that startups can meet them and ideally set up press interviews.
Related: 5 Ways to Make Journalists Actually Want to Publish Your Brand’s Stories
I also recommend that startups consider competing in startup competitions to raise the visibility of the business and its founders. Even if you don’t win, you get to pitch your business, fine-tune your elevator pitch and network with attendees – including other competitors, judges, investors and journalists.
Typical opportunities include:
Related: 8 Business Titans Reveal the Best Social Media Tactics to Promote Your Company
While virtual meetings have their place, there’s nothing like meeting in person to build genuine, long-term relationships. Forbes Insights reports that 85% of people reported building stronger, more meaningful business relationships with people they’ve met face-to-face. When I attend events and competitions, I often meet influential people from different walks of life that I would otherwise not meet. Startups should take advantage of such opportunities and either ask for introductions or just introduce themselves. My business relationships with partners, startups, portfolio companies and journalists started with a casual introduction and in-person meeting.
Another good way startups can increase their visibility is by publishing thought leadership content. I often advise startup founders to write about what they know – whether about new technologies, business trends or leadership advice. This allows the author to establish themselves as an expert in one or more topics. The press might notice such content, and it often opens the door to new business relationships.
Research shows that thought leadership works. In fact, 88 % of decision-makers surveyed by Edelman and LinkedIn think that thought leadership effectively improves their perceptions of an organization. Business-to-business decision-makers said that high-quality thought leadership strengthens a company’s reputation and positively impacts requests for proposal invitations, wins, pricing and cross-selling that occurs post-sale.
Writing thought leadership content can take different forms. The most straightforward method is to write an article on LinkedIn, populate social media or use a self-publishing channel. Experts can also submit their articles to local, regional or national publications that accept contributed content. Doing so will help a startup founder share his or her expertise without generating news, which is typically required to get press coverage. Thought leadership content goes beyond articles. On the technical side, startup founders — or other experts, including chief technology articles — can publish technical articles or research findings. On the creative side, entrepreneurs can create short-form videos that demonstrate their expertise while entertaining the audience.
Related: So You Want to Be a Thought Leader? Here are 5 Steps to Take
Now that it’s possible to meet people in person and attend live events, I recommend that startups work hard to increase their visibility and maintain their business momentum. Don’t sit back and hope that business will come to you. Put yourself out there and take advantage of opportunities to attend events, network, compete and build new relationships. Each can help startups grow more quickly, enabling them to capitalize on their innovative ideas and ultimately make the world a better place.
[ad_2]
Anis Uzzaman
Source link
[ad_1]
Opinions expressed by Entrepreneur contributors are their own.
No beating around the bush here. Entrepreneurship is a cutthroat realm where the bold thrive. You’ll fade into oblivion if you’re not unabashedly showcasing your unique capabilities, hollering about your achievements, and creating your limelight.
So, my audacious comrades, it’s time we plunge into the captivating chaos of mastering shameless self-promotion.
Listen up, rookies and seasoned veterans alike. The rules have changed. Modesty is no longer your best friend when you’re in the competitive, predatory world of entrepreneurship. It’s time to showcase your value, and guess what? No one will do that for you better than, well, YOU.
Remember, we’re not suggesting deceitful self-glorification; we’re advocating a bold, grounded self-promotion strategy that’ll put you on the entrepreneurial map.
Related: Using ‘Shameless’ Self-Promotion to Grow Your Business
Buckle up, because we’re going turbo-speed into the world of taglines and elevator pitches. If you can’t define your venture in a punchy sentence, get back to the drawing board! Your tagline should define what you do and grab attention like a moth to a flame.
Next, the elevator pitch. Imagine being stuck in an elevator with a mega-investor for exactly 60 seconds. Panic attack? No, dear friend, it’s an opportunity knocking. An effective elevator pitch is your golden ticket to pique interest, showcase your mission and get people hooked on your vision, all in less time than it takes to microwave popcorn.
In this digital age, your self-promotion battleground lies within social media. Whether it’s LinkedIn, Facebook, Instagram, Twitter or TikTok, you’re spoiled for choice. By not capitalizing on these platforms’ marketing power for your personal brand, you’re simply letting potential profits slip through your fingers.
Here’s the secret sauce, though, folks: Consistency is key — but not the droning, monotonous kind. Keep your audience engaged with promotional content, industry insights, behind-the-scenes peeks and a dash of your charismatic personality. Remember, people buy from people, not corporations. Make it personal.
The power of networking is akin to the power of the Dark Side in Star Wars — except it’s the good kind, I promise. Never underestimate the impact of shaking hands (virtual or otherwise), sharing experiences and maintaining relationships.
But here’s the kicker: Successful networking isn’t about what they can do for you; it’s about what you can do for them. Create value, forge genuine relationships, and watch your network become your self-promotion army.
Now, let’s bring it home to the crown jewel of self-promotion — personal branding. If self-promotion were a country, personal branding would be its capital. It’s your identity, unique selling proposition, and what sets you apart from the faceless mass of competitors.
Building a personal brand isn’t an overnight job. It requires patience, diligence and consistency. Personal branding involves crafting a gripping story about yourself, maintaining a professional demeanor and nurturing a trustworthy reputation. Remember that your brand is a mirror reflecting your fundamental beliefs and purpose, and above all, it should strike a chord with the people you aim to reach.
Related: It’s Okay to Promote Yourself — in Fact, It’s Necessary. Here’s How to Do It Better.
Let’s strut into the limelight, folks. Public speaking is the red carpet of self-promotion opportunities. Panels, webinars, workshops, podcasts or Ted Talks are your stages to shine.
But before you quiver at public speaking, remember this: Everyone started somewhere. Rome wasn’t built in a day, nor will your oratory skills. Start small. Practice. Stumble. Get up. Practice more. Soon, you’ll be commanding the room and leading the conversation in your industry. Public speaking is an investment with dividends in credibility, authority and a wider audience reach.
Let’s not mince words here. While self-promotion is vital, third-party validation is the cherry on top of your credibility sundae. How do you get it, you ask? Enter the realm of press releases and media features.
Write a press release for every milestone, big or small. Launching a product? Write a press release. Won an award? Press release. Teaming up for a joint venture? You guessed it, press release! The trick is to make your news enticing. Nobody cares about another product launch, but if your product will save time and money or make life easier, that’s news!
But why stop there? Why not go for a feature story in a reputed media outlet? Start by contacting journalists and editors, and offer them a unique angle to your story. Make it relevant to their audience. If done right, media features can provide immense visibility and position you as a thought leader in your field.
Content is king, but let’s make this clear: not just any content, but high-quality, engaging and impactful content that tells your story, establishes your expertise and nurtures your community. This is where content marketing steps in.
You see, content marketing isn’t about pushing your product or service. Nope. It’s about providing valuable insights, stirring conversation and showcasing your genius to your audience. This venture calls for constructing insightful blogs that unravel complex problems, cultivating podcasts that set the sparks of inspiration flying, designing videos that serve up a good dose of entertainment and crafting social media posts that reel engagement like a seasoned fisherman.
So come on, brave entrepreneurs, it’s time to plunge into the exhilarating sea of content marketing. Just a word to the wise here: Your guiding star in these turbulent waters will be a steady stream of consistent, relevant content, topped with the cherry of creativity.
Don’t limit your voice to your channels. Expand your reach by guest posting on popular industry blogs and appearing on relevant podcasts. It’s like hosting a party in someone else’s house but getting all the credit (and leads!).
Guest posting gives you exposure to a broader audience and solidifies your position as an industry expert. And podcasts? Well, they’re the new rockstars of the digital world. Whether hosting or being a guest, podcasts are a fantastic platform for showcasing your insights, opinions and irresistible charm.
Related: This Trick Will Help You Promote Yourself Without Coming Off as Self-Centered
Regarding shameless self-promotion, let’s not forget our fearless and bold PR stunts. Now, I’m not suggesting you parachute off a skyscraper (unless safety protocols are strictly followed, of course). Still, innovative, out-of-the-box, headline-grabbing stunts can skyrocket your brand visibility.
From a quirky pop-up shop to an eccentric social media challenge, the sky’s the limit regarding PR stunts. The key here is to create a stunt that aligns with your brand, amuses your audience and shakes up the status quo.
In our fast-paced digital era, engaging in real-time with your audience is as precious as a gold mine. More than just a knowledge-sharing medium, webinars and live sessions foster a sense of community and belonging. They are a bridge that links you directly to your audience, fostering a two-way dialogue that’s both dynamic and personal.
What is the golden rule for hosting successful webinars and live sessions? Offer value, value and more value. From how-to guides and expert panels to live Q&A sessions and behind-the-scenes tours, let your imagination run wild and your passion shine through.
So, step boldly into the world, my fearless colleagues. Unleash the force of unabashed self-promotion. Make the world pay attention. Remember, who else will be if you’re not your biggest fan?
[ad_2]
Chris Kille
Source link
[ad_1]
Opinions expressed by Entrepreneur contributors are their own.
There are several steps in personal growth that go along with growing a successful business. From self-awareness to risk tolerance, many of the buzzwords in entrepreneurship actually come from popular psychology. Having a working knowledge of how an entrepreneurial mind processes information is a good start to figuring out whether — and how — starting a business is best for you. Perhaps the biggest step is going from being an employee at someone else’s business, to deciding that you truly want to lead your own.
Crossing the bridge to business ownership requires an entrepreneurial, adaptable mindset. First, understand that you’ll be going from a 9-5 mindset to one that is on 24/7, 365 days a year. It may feel overwhelming, but it’s something every successful business leader cultivates. Second, you’ll be going from following orders to leading other people, which requires another shift in perception. Third and most importantly: To grow a business, you need a growth mindset.
Related: 5 Reasons Why Personal Growth Also Boosts Business Achievement
Self-awareness is the most basic and essential attribute for an entrepreneur, which is why it’s become a business buzzword. Surprisingly, a study reported in the Harvard Business Journal found that “even though most people believe they are self-aware, self-awareness is a truly rare quality,” and estimate that only 10% to 15% of the people surveyed actually have the self-awareness necessary for a managerial position.
To gain self-awareness and determine a path to successful entrepreneurship, take an honest look in the mirror. What are your strengths and weaknesses? What motivates you? Looking inward leads to decision-making about whether being an employee is the best fit or if you have the core mindset to be an entrepreneur — and, for an entrepreneur, self-awareness is also the power for cultivating a great team.
Leaving the comfort of an organization to start a new venture requires overcoming fear, building fortitude and taking a leap of faith. Going from an employee mindset to an entrepreneurial one may be the biggest emotional jump — but it will be the first of many.
Related: Why Self-Reflection and Self-Awareness Are Vital Skills for Any Entrepreneur
Having an adaptable mindset is one of the key elements of creating and growing a business. What is an adaptable mindset? It’s what the brain does behind the scenes to help us learn from mistakes and overcome setbacks to find solutions and move ahead, instead of accepting failure.
This resilience can’t be underestimated in entrepreneurship. Not only does business survival depend on the ability to learn and overcome difficulties, but it allows a business owner to seek and leverage new opportunities.
There was a groundbreaking book on this very subject published in 2006 by psychologist Carol Dweck titled Mindset: The New Psychology of Success that explores the concept of growth and fixed mindsets, terms that the author coined. Examining brain processing activity, her team measured brain activity as students reviewed their mistakes on a test. They found some students had more brain activity, demonstrating a growth mindset, and others had none — a fixed mindset. She postulated that a fixed mindset prevents you from learning from mistakes, while a growth mindset can empower you to perceive mistakes as learning opportunities.
Is it possible to train oneself to create a growth mindset? Absolutely. It’s a matter of transforming thinking from a one-size-fits-all to an adaptable mindset. Here are a few tips:
Related: Success Is the Biggest Benefit of Being Adaptable
Establishing an adaptable, growth mindset is a core element of entrepreneurship. But what you fill that same mind with is just as essential. Being familiar with the ins and outs of business and acquiring top leadership skills are the basics. Business knowledge will help to create a better employee environment provide a better chance of success in business, greater personal development, more adaptability and enhances communication skills in the workplace
One of the best places to begin when seeking financial literacy for starting a business is the U.S. Small Business Administration (SBA). This government organization is dedicated to bringing “financial literacy not only to America as a whole, but specifically to small businesses and future entrepreneurs.” They offer a Money Smart for Small Business toolkit that provides an introduction to small business management topics.
Transforming from an employee to an employer, overcoming fear and gaining knowledge all contribute to developing a growth mindset. With adaptability and a positive outlook, anything is possible, especially business growth and success.
[ad_2]
Mohammad Farraj
Source link
[ad_1]
Interview with Jeff Fenster & college student Grant Hafercamp on exploring your ultimate potential.
[ad_2]
Jeff Fenster
Source link
[ad_1]
In 2013, Courtney Adeleye was working as a registered nurse and searching for a product suitable for treating natural hair.
“There were not many brands that used natural ingredients and specialized in healthy hair growth at the same time,” Adeleye recalls. “So, I started mixing my own products at home and infused them with vitamins, nutrients and healthy ingredients.”
Adeleye documented her homemade hair care routine on YouTube, and it wasn’t long before she gained a large following of people who wanted to know her secret — and purchase products from her directly. So, with just $500 to her name, Adeleye developed a few deep conditioning treatments and sold them to her fans.
Those initial offerings would grow into The Mane Choice, Adeleye’s hair care solution for healthy locks, featuring formulas free from mineral oil, petrolatum, parabens, sulfates and formaldehyde.
Adeleye says she sold $10 million worth of products from her home during her first three years in business, and within another two, she’d partnered with more than 60,000 retailers across the U.S. — achieving $100 million in sales and an IPO by 2019.
Last year, Adeleye launched Olbali, a health-focused direct-selling company, to house her private brands, including The Mane Choice, Cool Coffee Clique, Foolproof Body and more.
Related: How Private Equity Investors Gave This 17-Year-Old Beauty Brand a $100 Million Makeover
Entrepreneur connected with Adeleye during National Black Business Month to hear more about how she overcomes the limiting perceptions Black-owned businesses often face and the 10 secrets that helped her see so much success.
“I have been asked if my products are for Black women only despite having extensive diverse marketing.”
Adeleye says she didn’t become a nurse because she wanted some people to live healthier lives — she became one because she wanted everyone to live healthier lives. The same is true of why she founded a beauty and wellness business.
Her company’s products aren’t just for Black consumers, but for everyone who can benefit from them, Adeleye says.
Courtesy of Olbali
Still, all too often, Black founders are unfairly pigeonholed, and the Black-owned label can actually work against their businesses, according to Adeleye.
“I create healthy products for people to help them live healthier lives,” she explains. “However, I have been asked if my products are for Black women only despite having extensive diverse marketing.”
Research from McKinsey & Company highlights how pervasive the issue is.
Like all businesses, beauty brands must stay connected with their core shoppers and pursue growth opportunities — yet “there’s also a persistent myth in the beauty industry that Black-brand products can only be sold to Black consumers,” per the report.
Related: 6 Ways You Can Support Black Businesses Long-Term | Entrepreneur
Adeleye says she “must be more intentional” when it comes to displaying diversity across her brands, ensuring her business can realize its full growth potential “on a mass level.” “My goal has always been to be diverse and inclusive,” she says. “So, being intentional is something that comes natural to me.”
“You have to believe in yourself before anyone else will.”
Adeleye says following 10 key guidelines helped her achieve her many milestones to date — spanning product innovation, marketing tips, social media strategy and more.
Here’s what she suggests for entrepreneurs who are ready to level up their businesses:
1. Be authentic.
2. Don’t meet your customer expectations…exceed your customer expectations.
3. If you don’t think you have a great product, you need to try again before releasing it.
4. Informal content can be more powerful than formal content.
5. Be a walking billboard for your brand.
6. Engage with your customers on all platforms.
7. Show up consistently on social media.
8. Bring your brand to life (off social media) by doing grassroots events and activations.
9. Invest more in your customers and micro-influencers versus macro-influencers.
10. Fix the brand before you start to spend money on marketing. Great branding can exceed great marketing.
Adeleye’s learned a lot over the course of her entrepreneurial journey, but perhaps her best piece of advice? “You have to believe in yourself before anyone else will.”
“If you don’t believe your business is just as good or even better than the next business, it never will be,” Adeleye says. “There is no such thing as an oversaturated industry. I say, ‘An industry cannot be oversaturated if I am not currently producing in it.’”
[ad_2]
Amanda Breen
Source link
[ad_1]
Opinions expressed by Entrepreneur contributors are their own.
As a mother of two and a co-founder of a global personal branding agency, I often talk about my life under the endearing term of “struggle of the juggle.” I am sure you can relate. As I travel across the world to deliver keynotes and to host workshops, I often feel guilty that I am not around for breakfasts and dinners, drop-offs and pick-ups. As much as I love my “job,” and despite all the travel, I want my kids to know that they are my key priority. What matters to them is a priority to me. Even if I don’t quite understand why it actually matters to them.
Cue Taylor Swift and her highly publicized Eras tour. I am not a “Swiftie,” and the reasons behind her mind-blowing popularity have not been crystal clear to me. And yet, my daughter is a fan. And on a beautiful August morning, when Swift announced that she was adding Canada as a stop on her tour, my 13-year old mentioned that she would love to go.
So, there I was, not a Swiftie, but a mother who wants her kid to know that she is a priority. I decided there and then that I would move mountains to secure the tickets. The task seemed insurmountable, with reports coming out about each show selling out immediately after ticket release. The tour is predicted to break all world records with ticket sales of $1.3 billion. With no connections to help and no strings to pull, I set out on the journey of following the process and hoping for the best.
Throughout the days that ensued with each step I took that seemingly brought us closer to success, I kept wondering — what is the enigma that is Taylor Swift? Why does she resonate so deeply with so many?
As an owner of a personal branding agency, I naturally looked at Swift’s overwhelming success through the lens of personal branding. I was curious to see what lessons we could all learn as we build our own leadership brands.
After a lot of analysis and reflection, I identified four key pillars of her personal brand that you can apply to your own.
Related: 5 Business Lessons From Taylor Swift
Taylor Swift is a master of weaving personal anecdotes into her songs. From heartbreaks to celebrations, her lyrics provide a window into her soul. Years ago, I coined the term “Radical Authenticity” as a key component of a strong personal brand. Taylor embodies it and it has garnered her millions of dedicated fans. They don’t just hear her; they feel her.
Insights for you:
Many business owners believe that personal branding is rooted in phoniness and narcissism — doing anything and everything to grab some “likes.” This couldn’t be further from the truth. Personal brand building is an exercise in authenticity and starts with an inside-out process of introspection. When you decide to build your leadership brand, you make a decision to share with others the real you, not a crafted PR version that others will simply see through.
Swift’s journey from country to pop, and then a mix of indie, can be puzzling to many. How can she pivot so drastically and yet maintain (grow!) her fan base? You see, pivoting does not damage your brand perception, as long as you are clear and consistent with two key components of your brand: its essence (“positioning” in branding-speak) and how you want to be perceived.
Insights for you:
As entrepreneurs, we all pivot. We add verticals, we exit our businesses, and we shift gears. As long as we have a clear brand positioning, it will act as an umbrella for all of these changes. As long as the brand essence is clear and remains unchangeable, the pivots we make will not confuse our audience.
Swift is known for her cult-like relationship with her fans. From surprise visits and personal replies on social media to secret album listening sessions, she understands that her brand isn’t just about her music but the community she nurtures.
Insights for you:
Although we are not looking to build a “fan base” as business owners, building and maintaining an audience is rooted in understanding the importance of two-way engagement. When you create content on social media, for example, you absolutely need to reply to the comments you receive. And no, that is a piece you cannot outsource — people are commenting and looking to interact with us, not the bots we plug into our platforms, not our assistants and not our marketing teams.
Related: 3 Principles for Personal Branding Success
Over the years, Swift has championed various social issues, using her platform to advocate for change. Whether it’s LGBTQ rights or political endorsements, she makes her stance clear, intertwining her brand with her beliefs.
Insights for you:
When building your leadership brand, you cannot make it all about the business. What you do is crucial to building credibility and serving the business through your enhanced visibility, but who you are is what builds a true connection with others. It is what humanizes your brand to others.
Getting a ticket for Taylor Swift’s concert is an exercise in tenacity and commitment, powered by some serious luck. After signing up on Ticketmaster, a platform brimming with millions of eager fans, all vying for the golden access code, I waited days for the confirmation email. To my astonishment, among millions of hopeful fans, I was chosen. An email sparked the hope, and days later, a text brought the highly coveted access code.
With the access code in hand, the games began. Logging in 30 minutes early on the day of the sale, I found myself in the waiting room. The wait stretched on, and as I was ushered into the queue, a staggering number flashed on the screen — over 8,000 people ahead of me.
Finally inside, it was akin to playing the virtual game of whack-a-mole. Every time I clicked on seats that appeared as available, a message popped up “Sorry! Another fan beat you to it.” After a heart-stopping wait, the confirmation: “You’re in! You got the tickets.”
And there I was: a mother about to tell her kid about another business trip in the works, but first the big news to share — coveted tickets in my e-wallet!
Amidst the hustle of business and scaling, sometimes it’s the most personal of stories that lead to the most profound of insights.
[ad_2]
Marina Byezhanova
Source link
[ad_1]
Opinions expressed by Entrepreneur contributors are their own.
In the U.S., many equate sailing with wealth, weather, and whiteness. Because of this perception, some see the sport as a niche. But Sail Grand Prix chief content officer Melissa Lawton has a different perspective.
“Every country has a product that is considered niche but is huge in other countries,” Lawton says. “Niche is a state of mind. It’s about how you exploit a sport to become a bigger moment for a larger group of people.”
SailGP is a global sailing competition where teams race identical high-performance F50 foiling catamarans in iconic locations around the world. Points are awarded to the winners of each race and event, and the season culminates with the top three boats competing in a winner-takes-all Season Grand Final.
Lawton was the head of live production at Meta when she attended her first SailGP event. The native Australian was familiar with the sport, yet she still found herself enthralled with the intensity of the race. Lawton’s additional experience at RedBull TV taught her that the youth wanted something “disruptive and different.” After attending a SailGP event, she decided sailing fit this mold. Wanting to get in near the ground floor, Lawton joined SailGP shortly after the third season. Her vision for the company is simple. She wants to bring in fans by educating viewers a little while entertaining them a lot. The key: catering to the core fans without alienating the casuals. She feels her job is to find the characteristics of the sport that appeal to the broader audience.
Related: Billionaire Yachts: Jeff Bezos, Larry Ellison, Sergey Brin
“Sailing is not niche,” she said. “Niche is just the sum of different communities. There’s a big audience for sailing, but the bigger audience is racing.”
Lawton’s goal is to expand the audience for sailing by marketing it as a racing product. SailGP avoids sailing jargon on the broadcast, opting for popular racing terms like “jockeying for position” to describe the action. Lawton’s content strategy is to create “surprising and raw” content for short-form platforms like TikTok, hoping to draw people in and get them to watch the longer-form content on platforms like Youtube.
Outside of exciting clips, SailGP also has a docu-series on Youtube entitled Racing on the Edge, reminiscent of the famous Formula 1 Netflix series Drive To Survive. The series highlights the individual teams and competitors, emphasizing the mental extremes these racers face.
“Sailing is a cerebral sport,” says Lawton. “A lot of mental finesse is required to race at these speeds.”
Lawton and SailGP have made other moves to diversify their audience beyond adopting a new philosophy. One of these moves was creating the Inspire program, a global youth and community program that aims to bring more young people into the sailing business, whether on the boat or otherwise. One of the main goals is closing the gender gap in sailing and providing more opportunities for women at the highest levels of the sport. In service of this goal, the program must be at least 50% female. Inspire occurs at every SailGP event, offering work experience and networking opportunities for those who sign up. The initial goal for Inspire was 10,000 sign-ups in the first five years. By season three, they have 14,665 and counting.
Related: Inside Larry Ellison’s Race to Save the World
“Diversity isn’t just important for the sake of doing good,” Lawton says. “It is important because it helps to grow the sport and introduce it to new markets.”
While a sailor’s success depends on the winds, the success of a product depends on the public’s interest. As Lawton says, the best sailors can see how strong the wind is and how the water goes. If SailGP maintains this philosophy, it should be smooth sailing.
[ad_2]
Leo Zevin
Source link
[ad_1]
Opinions expressed by Entrepreneur contributors are their own.
Embarking on the journey of selling a business can be an emotional rollercoaster. Whether you spent years nurturing it or it was a recent endeavor, letting go of something you built from the ground up can evoke a mix of excitement, uncertainty and even a sense of loss. Adding retirement into the mix is a whole other layer of complexity. In fact, one-third of retirees in the United States develop symptoms of depression at this stage of life, which is why preparing for your next phase of life is critical.
As one chapter ends, another begins, filled with endless possibilities and opportunities for personal and professional growth. Let’s explore the steps you can take to navigate this transition with care and embark on a new path brimming with purpose and fulfillment.
Related: How Much Time Do I Need to Sell My Business? First, Consider These 7 Factors.
First and foremost, take a moment to celebrate your achievement. Selling a business is a remarkable accomplishment, and it’s essential to acknowledge the hard work, perseverance and dedication that went into building it. Reflect on the valuable lessons learned, the challenges you overcame and the impact you made on your employees, customers and community. Give yourself permission to feel a sense of pride and gratitude for your journey.
While the sale of your business marks the end of an era, it also presents an opportunity to embrace change and adapt to new circumstances. Recognize that transitions can be challenging, and it’s natural to experience a range of emotions. Allow yourself the space and time to adjust to this new phase of life, knowing that change often brings growth and personal development. Stay open-minded and be willing to explore new avenues and possibilities.
Now that you have freed yourself from the demands of running a business, take the chance to reconnect with your passions and interests that may have taken a backseat during your entrepreneurial journey. One client of mine likes to build furniture and another is into music. Whatever you’re passionate about, rekindling those aspects of your life can bring immense joy and fulfillment. Allow yourself the freedom to explore and rediscover what truly brings you happiness.
Related: 6 Questions to Ask Yourself Before Selling Your Business
Transitioning from being a business owner to a new phase of life can be daunting but remember that you don’t have to navigate this journey alone. Reach out to friends, family and mentors who can provide emotional support and guidance during this transition. Share your thoughts, concerns and aspirations with them. Their insights and experiences may help you gain new perspectives and uncover opportunities you hadn’t considered before. I’ve had clients that needed professional help to get over the loss of not running a business.
Humans thrive when they have goals and challenges to strive for. With the sale of your business, it’s time to set new objectives and embark on fresh endeavors. Reflect on your personal and professional aspirations and craft a vision for the future that excites you. Perhaps you wish to explore a different industry, start a new venture or dedicate yourself to a cause close to your heart. By setting clear goals, you can channel your energy and passion into pursuits that align with your values and aspirations.
Entrepreneurship is a continual learning experience, and selling your business doesn’t mark the end of that journey. Embrace opportunities to expand your knowledge and skills. Attend workshops, conferences or online courses that cater to your interests. Engage in networking events or join industry-related communities where you can share your expertise and gain new insights. Investing in your personal and professional growth will keep you intellectually stimulated and open doors to new possibilities.
Related: Cashing Out: What Every Entrepreneur Should Know Before Selling a Business
Beyond personal and professional growth, consider how you can contribute to a greater cause or positively impact society. Whether it’s through volunteering, supporting charitable organizations or advocating for a particular issue, finding a higher purpose can bring deep fulfillment and meaning to your life. Explore avenues where you can utilize your skills, expertise and resources to create a lasting and positive change in the world around you.
Selling your business is a significant milestone, signifying the end of one chapter and the beginning of another. As you embark on this new journey, approach it with care, compassion and a sense of purpose. Celebrate your achievements, embrace change and reconnect with your passions. Seek support from your loved ones and mentors and set new goals and challenges that align with your values and aspirations. Remember to prioritize personal growth and find ways to contribute to a higher purpose. With this caring mindset, you can embrace the opportunities that lie ahead and create a fulfilling and meaningful life beyond entrepreneurship.
[ad_2]
Mark Kravietz
Source link
[ad_1]
Billionaire Mark Cuban recently told LinkedIn’s “The Path” podcast his three keys to success — and why what’s in his bank account isn’t one of them.
Cuban, 65, most widely known for his role on “Shark Tank,” boasts a net worth of $6.72 billion, according to Bloomberg. His journey into affluence began at 32, when he sold his initial business, software firm MicroSolutions, to CompuServe for $6 million. Eight years later, he climbed the billionaire ranks with the sale of his subsequent endeavor, Broadcast.com, to Yahoo for $5.7 billion.
Today, Cuban is the owner of the NBA’s Dallas Mavericks and the cofounder of Cost Plus Drugs, a company he launched last year with the objective of lowering prescription drug prices.
Here, Cuban offers advice to entrepreneurs about how to be successful in business — and in life.
When it comes to success, Cuban believes it’s less about monetary gains, and more about setting intentional goals and feeling a sense of purpose in what one does.
“Success isn’t necessarily how much money you have,” Cuban said on the podcast. “Success is just setting a goal and being able to wake up every morning feeling really good about what you’ve accomplished.”
“I think what I do that probably separates me is that I’m infinitely curious,” Cuban said. “There’s nothing I’m not interested in learning about.”
Cuban has long been vocal about his commitment to lifelong learning. In 2020, he told Men’s Health that “learning was truly a skill” and continuing to learn is how he’s “able to compete and keep up and get ahead of most people.”
Fellow billionaire Bill Gates also emphasizes reading to wind down — a habit that a 2019 study of over 200 self-made millionaires found to be a common practice, with 86% saying they turn to books instead of television to decompress.
Problems will arise in any workplace, but how you handle yourself (and those around you) will set you apart, and lead to more opportunities in the long run.
“Reduce the stress of people around you,” Cuban said. “If you’re a stress reducer, everybody wants you, so there’s always going to be something for you to do.”
[ad_2]
Madeline Garfinkle
Source link
[ad_1]
Opinions expressed by Entrepreneur contributors are their own.
As entrepreneurs, it’s in our blood to always be selling. But when it comes to public relations, pump the brakes on the sales pitch when speaking with reporters.
Over the years, I’ve watched entrepreneurs, CEOs and business owners jump right into their sales pitches with reporters. I suspect they see this media interview as another opportunity to sell their products to a larger audience.
That’s not how it works with journalists. Reporters tell stories for a living. They don’t want to hear subjective information on why your product or service is better than others, even if it comes from a client testimonial — they want to hear the story.
Related: 5 Secrets to Talking to the Media (And Not Sounding Like a Fool)
A popular mistake I see even the smartest entrepreneurs make: They want to tell how the sausage is made. Unless you’re speaking with a trade reporter writing for an industry-specific audience, stay away from the backstory.
Let me give you an example: A few years ago, I worked with a physician who continued to start each interview with how his surgical procedure worked. I took science and biology classes in college — like most journalists — but I don’t think any of us remember the medical jargon. Journalists don’t want to hear a long lecture on anatomy.
With most articles, writers have only 1,200-1,500 words to tell the entire story, and if you’re lucky, they will give you 20 minutes to talk at most. In TV, it’s even shorter, with 120 seconds for most on-air segments — so don’t waste the first 10 minutes going in-depth on how the sausage is made. Instead, focus this valuable time on explaining how your procedure is more advanced or different from previous approaches. Start your conversation with the end result; not the beginning.
This approach applies to any industry — tech, health care, politics, etc. If you’re selling a new mobile app, don’t go into the coding or cloud experience. Keep the conversation focused on the client benefit and value-add from your product, and stay away from any industry lingo. It only confuses the reporter.
This might sound counterintuitive on the surface, but if you’re hiring a publicist or PR agency, you want to see results that grow your business. That’s understandable, and it will happen. Our expectations are aligned.
But an interview with a reporter is not the time to ask for the sale. These interviews should be focused on the client or customer. You can highlight this message by focusing on the five Ws of journalism: who, what, when, where and why.
This is just a blueprint and in no way the only approach to your story messaging. At the very least, if you ask these questions before your interview, it will keep you focused on the story versus the sale.
Related: 5 Media Strategies Every Entrepreneur Needs to Know
I get worried when I hear potential clients tell me they are hoping PR can save their business. It’s even more distressing when you hear fear in their tone.
PR is not going to save your business. If your business is hemorrhaging money before you hire a PR agency, it’s likely a larger issue than publicity alone. Any publicist who says PR can save your business is probably engaging in the same entrepreneurial approach rooted in our blood.
PR will bring your product or service more exposure. If news outlets are talking about your storyline, it will always be more credible than any advertisement. And unlike ad campaigns where the promotion ends when the budget ends, media stories continue to reach eyeballs long after the PR campaign is over. In many ways, the cost decreases over time.
Google doesn’t reveal much about its search algorithm, but they do publicly admit to putting a priority on quality content and news exposure. If Entrepreneur or the New York Times is writing about your business, search algorithms will rightly prioritize your business with search. It gives your brand the added exposure needed for the search lift.
Just remember, the effects of PR don’t always happen overnight. A targeted media campaign will drive traffic to your website or store, but your end product still needs to be interesting. And that’s probably the most important point to remember: Brag about what is interesting, not what you’re selling.
[ad_2]
Mark Macias
Source link
[ad_1]
At 6 a.m. in Malibu, you might find Dwyane Wade alone on the beach, waiting for the sun to rise and contemplating the future. After all, the 13-time NBA All-Star, who retired in 2019, deserves to put his toes in the sand. But for Wade, 41, spending time at the beach is all about business.
“I feel like the self-care, the solitude, is so important before I give energy to the world, before I give it to my kids, before I give it to the workforce, I have to take care of me,” Wade tells Entrepreneur. “That’s where my morning starts. It starts by being selfish. But I have to get out of bed early to do that.”
On Saturday, Wade will be inducted into the Basketball Hall of Fame in Springfield, Mass., for a multitude of career accomplishments, including winning three NBA Championships and an Olympic Gold Medal. The ceremony closes a big life chapter. Although he’ll still be involved with the game through his ownership stakes in the Chicago Sky, Utah Jazz and Real Salt Lake, Wade is now trading basketball for business.
Related: You’ll Never Achieve Work-Life Balance — and You Shouldn’t, Reddit Co-Founder Alexis Ohanian Says
“Entrepreneurship has always been embedded in me from my parents,” Wade says. “I watch my mom and dad today, they’re still entrepreneurs. They are always creating something new. That’s the spirit I grew up with, and now I’ve had the opportunity to tap into that world.”
So far, Wade has launched a slew of brands, including his wine company, Wade Cellars, a sustainable baby care company, Proudly, with his wife, actor and producer Gabrielle Union, and 59th & Prairie Entertainment, which is named after his home city of Chicago. Although he says there are many similarities between professional sports and business, there has also been a lot to get used to.
“Basketball is immediate satisfaction,” Wade says. “The ball goes through the basket, everybody cheers. Instant satisfaction. In business, you can wait 10 years before you get that satisfaction, it can be 10 years before I have a win in business.”
The wins also feel different as an entrepreneur, he says.
“I get a win now, it’s on an email.”
His wine company, Wade Cellars, which launched around 2014, is now seeing growth after almost a decade. In the past four years, it went from selling 1,000 cases annually to 12,000 projected for 2023. Distribution grew from four markets in 2019 to 42 this year, including the U.S., Canada, Puerto Rico, Bahamas, and China, per Wade’s reps.
“I’ve been in my wine brand now nine years, and people are just now hearing about it,” he says. “You have to have patience. Patience is probably the biggest thing. I thought I was very patient as an athlete, but I’ve had to tap into even more patience in my entrepreneur life because it doesn’t happen overnight.”
As a professional NBA player, Wade was prepared, practiced and always had a plan. With the ball in his hands, he knew what to do; he could control the floor and anticipate his teammates’ moves. In business, it’s still all about a team, but there’s no shot clock. No end time. The lights don’t shut off unless you turn them off (or you don’t pay your bills). Wade says even without the rigid schedule of an NBA season, he’s still “very structured” in his life and plans out his days, which helps with business and managing money.
“I didn’t do that for a big part of my life. I didn’t do that in my finances when I first got money,” Wade says. “I didn’t know how to do those things. Now I know how to do those things. It’s about being able to set a plan for yourself.”
According to Spotrac, Wade earned almost $200 million in NBA contracts during his 16-year career (14 spent with the Miami Heat down in “Wade” County, Florida). Forbes estimates he has earned around $14 million in endorsements. Still, it hasn’t been all championships.
Former Miami Heat guard Dwyane Wade during a ceremony to retire his jersey at halftime as the Heat play host to the Cleveland Cavaliers at American Airlines Arena in Miami on Feb. 22, 2020. Al Diaz/Miami Herald/Tribune News Service | Getty Images
Although the National Restaurant Association estimates one in three restaurants won’t survive its first year in business, Wade began investing in food while he was still playing basketball. In 2008, D. Wade’s Sports Grills closed its two South Florida locations. Wade’s restaurant with former NBA teammate Udonis Haslem, 800° Woodfired Kitchen in Aventura, Florida, shut down in 2022.
“I took a lot of Ls, and there’s going to be more in my future,” he says. “You have to learn how to be as graceful in losing as you are in winning. You have to be able to learn from losing to be able to apply it, so you can lose less. I think a lot of times, we are afraid of the losses. So sometimes it makes us not do things because of [fear of] failure. [But] don’t have that mentality.”
“You actually need to fall, you actually need to learn lessons. It’s the same thing when it comes to entrepreneurship, take the chances, but don’t feel like you have to hit a home run right away.”
Wade says he’s applying the lessons learned on the court in his businesses, such as being a leader and a good teammate at the same time.
“From Magic [Johnson], I learned a lot about building a team, and even if you build a team, it is only going to go as far as the leader can take it. I learned that I had to be forward-thinking, I had to take chances. Sometimes, if you think it might not be a good idea, you have to go for it anyway.”
As Wade eases into this new chapter of entrepreneurship, he says he’ll keep scheduling and keep planning. But he’s still going to keep his toes in the sand.
Wade says he’s pretty “self-motivated,” but that doesn’t mean he’s opposed to getting an extra boost from sticking a “good advice” quote to a mirror. Two of his recent faves are classics from Maya Angelou (“I’ve learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.”), and one attributed to Benjamin Franklin (“If you fail to plan, you are planning to fail.”).
“The last podcast I listened to was a good one called Acquired: Every Company Has a Story. It covers these big companies like LVMH, Nike, these huge brands, and breaks down how they got to where they are today.”
[ad_2]
Melissa Malamut
Source link
[ad_1]
In this ongoing series, we are sharing advice, tips and insights from real entrepreneurs who are out there doing business battle on a daily basis. (Answers have been edited and condensed for clarity.)
Who are you and what’s your business?
Brynn McLeod: We are Brynn and Antoine McLeod, the husband and wife team behind STREX Fasteners, a system that makes the process of covering a boat much easier and faster. We’re originally from Anchorage Alaska. We met and started dating in high school over 20 years ago and have been married and business partners for nearly 10 years.
Antoine McLeod: Now we live on a lake near Seattle and when we’re not working, we’re typically on our boat with family and friends. We came up with STREX Fasteners because we were tired of the old way of putting on our boat cover when we were done having fun on the water.
What inspired you to create this business?
Brynn: We thought that there just had to be a better way to cover a boat. Pressing on and snapping in dozens of metal buttons not only took forever but was also very painful on my hands and fingers.
Antoine: Once we realized that there was really nothing on the market that addressed this common problem we knew that this was a great opportunity. We started working with Brynn’s father, who is an engineer, on different designs and after testing out several prototypes finally landed on the STREX Fastener design that we offer now. The best thing about our patented design is that they are very durable yet flexible and they make covering a boat super easy.
Brynn: And we are currently working on several new products that utilize our one-of-a-kind STREX systems: a universal pontoon boat cover with integrated poles that circumvents the need for costly custom canvas covers and eliminates the hassle of crawling underneath the boat to attach it. The other is an OEM design that would provide new covers with the same benefits as our retrofit product.
What advice would you give entrepreneurs looking for funding?
Brynn: I’d say to first start with friends and family. If you have an idea that you believe in and a business plan that clearly shows how you intend on returning their investment chances are you can find someone close to you willing to help.
Antoine: These days there are several Venture Capital and Angel Investor online platforms that can help just about any type of business find funding. I recommend doing your research and trying to find an investor that not only meets your financial needs but aligns with your vision as a brand or company. Once you have identified a good investor that matches what you’re looking for, provide them with your pitch deck and arrange a meeting. From there it’s up to you to deliver a compelling pitch.
Related: Watch the new episode of “Entrepreneur Elevator Pitch” now
What advice would you give for preparing for a pitch meeting?
Brynn: The key to a great elevator pitch is to keep it short and to keep their attention.
Antoine: Practice your elevator pitch over and over again until it becomes second nature to deliver. Then, after you have perfected it, practice your pitch some more.
How did it feel the first day you opened for business?
Brynn: I was super excited once we finally launched our product. Just to think about all the progress we made from the early days of creating prototypes to seeing our final product in its packaging ready to be delivered seemed surreal. Once we started getting orders and sending products out, it finally set in that we did it.
Antoine: I was nervous about everything. Was our website working correctly? Were our ads performing well? So many different things could go wrong. There’s definitely some self-doubt that sets in because you wonder if your idea is really good or not. But it’s in times like those that you just have to believe in your process and trust that all of your hard work will pay off.
Related: It’s Never Too Late to Launch Your Dream, Say These Skincare Entrepreneurs
What was your toughest challenge and how did you overcome it?
Brynn: Being the new guys in the industry. Most people in the boating business know of each other from different trade shows and marine organizations. We literally had to start from scratch and try to develop relationships with as many professionals in our line of work as we could. What we have found is that most people in our industry were more than willing to help out newcomers like us. It really just took us getting out of our comfort zone to set up meetings and cold call anybody that we thought or hoped would listen to what we had to say.
Antoine: There are so many moving parts that come with this kind of endeavor from handling logistics to payroll to customer service and countless other responsibilities. When you start thinking about all the things you have to do just to get up and running its remarkable that anyone starts a business at all. What I have found helpful is to prioritize keeping everything about your business hyper-organized so that you can feel that you are in control of things while being more productive and hopefully a little less stressed out.
What does the word “entrepreneur” mean to you?
Brynn: Self-starter. Someone who is adventurous and willing to take big risks.
Antoine: Free thinker. Someone with big ideas and the guts to pursue them.
Related: How the Founders of SpaceIt Are Re-Building the Way Real Estate Brokers Do Business
Is there a particular quote or saying that you use as personal motivation?
Brynn: “Do what you can, with what you have, where you are.” That’s Theodore Roosevelt. I love this because there have been so many times in my life that it’s been really easy to make excuses like “We don’t have enough money or experience to pull this off.” This quote reinforces to me that it’s not about your resources but your resourcefulness.
Antoine: “You miss 100% of the shots you don’t take.” — Wayne Gretzky. This quote always inspired me to not fear or shy away from failure. I believe that athletes and entrepreneurs have a lot in common including failing often. In business and in sports failing is a part of the game, and those who win are usually the ones who keep trying until they achieve success.
[ad_2]
Dan Bova
Source link
[ad_1]
Opinions expressed by Entrepreneur contributors are their own.
I’ve been fortunate to spend more than a decade of my career serving the small business industry. One thing that I’ve seen consistently over the years — whether it’s a brick-and-mortar restaurant in Missouri, an ecommerce business based in Virginia or a hair salon in Texas — is that in order for a small business to grow and thrive, owners must invest strategically in tools and technologies to help them succeed.
This extends beyond simply going online to order a laptop for all your business dealings or setting up a company website — although those are good places to start! The right tools can help power a business, taking it to the next level of growth while making the owner’s life easier and more manageable.
Here are three areas business owners should consider investing in that can help transform their operations and catapult their growth.
Related: A Small Business Owner’s Guide to Managing Funds and Investments
Artificial intelligence is the hot, new buzzword — the technology trend that’s generating the most excitement around its potential use cases, particularly as more and more people experiment with generative AI like ChatGPT.
For business owners who are strapped for time, the opportunity to automate tedious and time-consuming tasks is extremely appealing. In fact, according to a recent survey we did, almost all small business owners are eager to automate operational tasks with the help of AI: from expense management (69%), to invoicing (68%) and completing payroll (51%). They look forward to offloading some of these monotonous but important tasks to technology solutions.
I recommend evaluating key areas of your business operations that are critical to your cash flow, for example, monthly invoicing. Finding ways to improve efficiency by automating repetitive tasks will help save time and money every month, compounding the overall benefit.
The impact of the potential time savings from AI is huge, with 43% of business owners saying they’d use the time to develop customer relationships and 36% would develop more products and services with the extra time. The true power of AI is it creates the capacity to focus on building relationships, creating new offerings and innovating — areas where the human touch is still essential to success.
Another area where technology can make a huge difference is the complicated process of onboarding, managing and paying employees. Personal relationships between a business owner and employees are of course crucial, but by investing in a human capital management (HCM) software solution upfront, business owners can greatly simplify some routine tasks.
Calculating payroll for hourly workers, managing schedules and deducting appropriate taxes are all things HCM solutions can effectively take off a business owner’s plate. This results in significant time savings (similar to the monthly invoicing example above, these are tasks that repeat consistently, compounding the overall benefit). It also ensures greater peace of mind as tax compliance is an area that many business owners struggle to navigate with confidence. Finally, it helps employees, as it provides greater transparency and accessibility to paystubs and other important financial documents.
Related: Three Reasons Why It’s Never Too Early to Invest in HR
According to our recent survey, half of small business owners agree that customer retention is among the most important business metrics for judging the success of a business. Businesses need customers to buy their products and services, but 20% of businesses said acquiring customers is the biggest obstacle inhibiting their growth, second only to the rising cost of inflation.
Automation tools can help with both of these challenges by making it faster and more efficient to manage your company email and social media marketing. Whether it’s leveraging an email marketing solution to reach new and existing customers or experimenting with paid ads on social media platforms, more and more companies are taking the guesswork out of marketing for business owners so they can better target, reach and communicate with their intended audiences. Now businesses can leverage the templates, insights and best practices that are available to them via these platforms rather than reinventing the wheel with every ad or email blast. Additionally, the metrics and insights provided on the backend can help businesses to test and learn, seeing what resonates with their audiences and truly moves the needle.
Our survey found that four in five small business owners plan to invest in digital tools this year. That’s great news for all of us who love and support small businesses, as it will undoubtedly help many companies continue to grow and reach new goals. For any entrepreneurs ready to invest in their brand’s future but unsure where to start, I recommend exploring the capabilities of AI and automation and how tools can help streamline the employee management experience, customer communication and marketing. With the help of technology and tools, the sky is truly the limit for small businesses everywhere.
[ad_2]
Rich Rao
Source link
[ad_1]
Opinions expressed by Entrepreneur contributors are their own.
As entrepreneurs, we want to see things happen quickly. Yet, it’s important to remember that what seems small can end up being mighty.
At the risk of tossing out a cliche, consider a tiny apple tree seed. Its physical presence makes it seem relatively insignificant, but given time and the proper conditions, it can make a world of difference to countless people in need of nourishment. Or consider vitamins and supplements. They don’t produce immediate effects, but they can have a cumulative impact on someone’s health. The hard part is waiting for that impact to come.
Again, waiting isn’t a skill that founders tend to be known for. One recent study from Spain in the Journal of Business Research showed that the traits most connected with entrepreneurism fall in the categories of initiative and open-mindedness, not the ability to wait. Nevertheless, patience is essential because it has a leadership ripple effect that keeps teams positively driving forward even in times when progress isn’t immediate or linear.
Related: 12 Character Traits Exceptional Entrepreneurial Leaders Have In Common
I understand how hard it can be to exercise patience, though. My business was built on a product designed to provide users with incremental health improvements that aren’t visible instantaneously. When the product was first on the market, no one understood how it worked. They were interested and curious, but they couldn’t completely see how it would help people who incorporated it into their lives.
In other words, they could see the apple seed but had trouble seeing the tree. I had to wait for them to catch up — and it was very difficult, but years later, it has produced fruit.
As leaders, we have to be able to not just see the tree but believe that what we see happening down the road (e.g., the branching out, the blossoming, the harvesting) is real. That’s challenging, particularly when everyone around you is just pointing at a minuscule seed and saying, “That’s never going to turn into anything.” But you have to have faith that something small can turn into something bigger.
Below are some of my suggestions for helping you do that with confidence:
As an entrepreneur, you’re going to do a lot of heavy lifting. You’ll be emotionally consumed by whatever it is that you’re invested in. If you don’t have an inherent passion for it, you’ll burn out — much like Thomas Edison’s light bulb.
Edison was an innovator who learned how the small stuff could add up. Contrary to popular belief, he didn’t fail in making a light bulb 10,000 times. Rather, he found endless ways the light bulb couldn’t work. Even his assistant succumbed to worries that they were on the wrong track. However, Edison is reputed to have explained the opposite was true: “… We have learned a lot. We now know that there are 2,000 elements which we cannot use to make a good light bulb.” It’s easy to imagine how hard it would have been for him to keep trying if he hadn’t been passionate about his invention.
You’ll have naysayers. You’ll have people telling you to throw a handful of spaghetti at the wall to see what sticks. You can’t let them deter you from the valid opportunities you see before you but are hidden from others. The only way to stay on track is to be driven by something that fuels your imagination and fire.
Related: Passion, Grit, Resilience: The Formula for Success
We live in a society of instant gratification. Accordingly, when we want something, we want the benefits of it right away. Sometimes, though, the long-term payoff is much better. For instance, when you take antibiotics, you can’t just stop them when you start improving. You have to finish your entire prescription, or else you could forfeit the benefits.
Here’s how this works from a leadership perspective: You need to start implementing small changes, pivots, paths, approaches, etc., in your organization. Maybe you do something once per month. It won’t work right away, but it will work eventually. For instance, I recently started updating my schedule to incorporate 50-minute meetings instead of hour-long ones. Though it was initially challenging to fit everything into that time slot, I’ve found that it now makes meetings more focused and productive. Plus, on days when I have nonstop meetings, I have 10-minute buffers in between to mentally decompress; then, I can be fully present during subsequent meetings.
Trust. The. Process. This can be hard to hear as well as do. I remember being criticized by peers who thought I was making the wrong decisions. “Your revenues are ‘X,’ so your travel budgets need to be ‘Y,’ not ‘Z.’” What they didn’t see was that by traveling and making in-person connections, we were inching our way toward more business. This doesn’t mean we didn’t make corrections over time, but we trusted that we would see progress by doing what seemed reasonable — and it did work.
The Uber surge pricing decision falls into this category. The company’s leadership took a lot of heat for implementing dynamic prices for Uber rides. Lo and behold, the idea turned out to have merit after all. At this point, surge pricing is just part of the rideshare giant’s typical model — all because its leaders didn’t flinch from their path.
Related: How to Trust the Process and Achieve Mastery
Will you get pushback? Of course. That’s all part of the journey. What you need is confidence in you and your team’s vision so you can execute thoughtfully and consistently. In doing so, you’ll be able to make small changes that will build on each other (similar to compounding interest).
The other day, I was driving and saw someone toss an empty can out a window. The person probably thought, “What’s one can?” As we know, one discarded can matters. One small solution does, too.
[ad_2]
Seth Casden
Source link