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Tag: Side Hustle

  • How a ‘Barbie-ish’ Airbnb Stays Booked in a Challenging Market | Entrepreneur

    How a ‘Barbie-ish’ Airbnb Stays Booked in a Challenging Market | Entrepreneur

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    This story originally ran on Business Insider.

    This is an as-told-to essay based on a conversation with Bre Fleschner, owner of an Airbnb that’s become known for hosting bachelorette parties in Tempe, Arizona. It’s been edited for length and clarity.

    I’ve always wanted to be an entrepreneur and own my own business. I wanted my money to work for me, and I didn’t want a 9-to-5 job. My parents were business owners when I was growing up, so it’s in the family.

    I also love real estate so much — everything from home designing to house-flipping projects. I could watch HGTV all day.

    When I graduated from college in 2015, I wanted to have vacation rentals all over the U.S.

    I had this vision mainly because I love traveling, but also because I wanted people to experience those homes instead of them just sitting there.

    Bre Fleschner owns the bachelorette desert dream house Courtesy of Bre Fleschner

    I wanted them to be my “dream houses,” and when people would visit, they’d want to see more of those houses in Nashville, Orlando, Miami, or all of these different, cool destinations.

    I got my start when I moved out to Arizona in 2019 from St. Louis

    It felt like a calling from God, and I knew this was where I needed to start my business. I reached out to a realtor, and she was a mentor to me who was doing exactly what I wanted to do.

    I found my property located just outside of Scottsdale, in Tempe, in December of 2020. It was right before the craziness of the market, so I got a good deal on it. I was able to purchase it for a little over $400,000 with a traditional loan.

    Bachelorette desert dream house pool

    The desert dream house includes a heated pool in the backyard. Courtesy of Bre Fleschner

    It was the only thing I could afford at the time, so I had to make do with what I could. It’s since turned into my desert dream house.

    I did have friends who wanted to have their bachelorette parties in the area, so I thought it was interesting. I just never thought the area would be as popular as places like Nashville.

    When I decorated the house, I did so in a way that reflected what I wanted. I wanted groups of girls to stay in my houses — I figured they’d be less destructive — and the house is kind of in a party area, so I decided to make it all girly. It’s Barbie-ish and cute.

    Bachelorette desert dream house bedrooom

    Bachelorette desert dream house bedroom Courtesy of Bre Fleschner

    Thankfully, I haven’t had any issues with the property

    I’ve become friends with my neighbors and make sure to let them know that their comfort is my top priority.

    I make sure the guests are aware that there are quiet hours. I don’t provide speakers the guests can take outside, I don’t allow DJs, I ask them not to bring any additional people over, and I encourage all guests to be courteous.

    I’ve never had to kick anyone out due to bad behavior, and usually, the property is left squeaky clean.

    Bre Fleschner Bachelorette desert dream house

    Airbnb owner Bre Fleschner. Courtesy of Bre Fleschner

    At the time I designed the property, I was really into influencing

    I thought about what would make someone come to my house, and one of the things was Instagrammable spots. So I have murals everywhere that I hand painted. I only had so much money to do the things I wanted to do, so I got creative.

    That’s because when I purchased the property, there was a major plumbing issue that we thought the previous owners were taking care of but didn’t. That was a mishap that cost me thousands I wasn’t expecting. I also spent a lot of money on furnishings, but I did a lot of the painting myself and went to thrift stores to cut costs.

    Still, everybody who visits loves it. I’ve never had any complaints about the décor. If anything, people say: “This place is so much better than the pictures,” and “The pictures don’t do it justice.”

    Thankfully, I can make bigger changes now

    I’m in the process of adding an additional bedroom and more murals. A lot of people are now doing what I’m doing, so I want to find ways to stay on top.

    Before I started accepting Airbnb bookings, it was that time when it was still really easy to blow up on TikTok, so I created a TikTok showing people what I was doing and explaining that it would be the newest property in the Scottsdale area for girls. One of my videos went viral and had over 500,000 views and I gained 16,000 followers. Before I even had the property listed, people were asking to get on a booking list.

    My launch date was March 1 of 2021 and immediately my summer was almost booked up — it was really cool.

    bachelorette desert dream house couch

    Bachelorette desert dream house couch Courtesy of Bre Fleschner

    However, the Airbnb landscape is changing

    This time last year I had approximately twice as many bookings as I do this year. There are now so many properties out there doing exactly what I’m doing. I’m getting back on social media now to share videos and give updates on what I’m doing, to help keep my property on top.

    If this is what you want to do for a living — like I do — you have to put your heart and soul into your properties. You also have to change and update your properties, and keep paying attention to what works and what doesn’t work.

    What’s worked for me is having a home with unique designs, offering a heated pool, advertising on social media, and working with a third-party management system. So far, the only thing that hasn’t worked was buying cheap furniture — it did not last long.

    The goal this year is to purchase another home in the Scottsdale area, get one in Nashville, another in Palm Springs, as well as a couple in Florida.

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    Jamie Killin

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  • 7 Innovative Online Business Ideas for Digital Entrepreneurship | Entrepreneur

    7 Innovative Online Business Ideas for Digital Entrepreneurship | Entrepreneur

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    Entering the realm of digital entrepreneurship presents an array of enticing opportunities for beginners interested in starting an online business. The online world teems with potential, offering a vast market ready for innovative ideas.

    With the right know-how, you can tap into this digital landscape and start your journey toward becoming a successful business owner. From ecommerce and social media to affiliate marketing, the spectrum of online business possibilities is wide and inviting.

    Related: 10 Online Business Ideas That Could Make You Rich

    Online business ideas

    When starting your online business venture, it’s essential that you consider how much time, effort and income you expect from the business upfront.

    Some entrepreneurs are focused on passive income, while others attempt to make online businesses full-time. Ensure you have the time and funds to start a business to the fullest up front to avoid becoming overwhelmed by rapid growth.

    1. Ecommerce store

    If you’ve ever dreamed of owning your own shop but dread the overhead costs of a brick-and-mortar establishment, an ecommerce store could be your ticket to success.

    Ecommerce, or electronic commerce, refers to the selling and buying of goods or services using the internet. It also involves the transfer of money and data to execute these transactions.

    In essence, running an ecommerce business involves setting up an online store on a platform like Shopify, Amazon, eBay or Etsy, and selling products directly to customers. This business model is appealing because of its relatively low startup costs and the potential to reach a global audience. It can be a profitable venture if executed properly.

    One of the major elements of establishing an ecommerce store is the selection of the platform. Shopify is a popular choice for its user-friendly interface and comprehensive ecommerce functionality.

    Amazon and Etsy, on the other hand, offer established marketplaces with millions of potential customers. It’s worth noting that each platform comes with its own set of rules, fees and features, so it’s important to conduct thorough market research to find the best fit for your business needs.

    The design and development of your ecommerce website also play a crucial role in its success. The aim is to create a high-quality site that is easy to navigate, visually appealing and designed to convert visitors into customers. You may decide to use a web development service or design the site yourself if you have the necessary skills.

    Launching your ecommerce store is only the beginning. To drive traffic and increase sales, you’ll need to implement effective marketing strategies, which could include search engine optimization (SEO), social media marketing, email marketing and more.

    Your ecommerce venture could be your path to owning a thriving online business, selling products (physical or digital products) you are passionate about to customers around the globe.

    2. Podcasting

    In the landscape of digital entrepreneurship,podcasting has emerged as a unique and engaging platform for sharing information and telling stories. A podcast is a digital audio or video file series that a user can download or stream to listen to. As the host or producer of a podcast, you have the potential to reach a global audience, covering topics you are passionate about.

    Related: 5 Reasons Why Brands Should Think About Creating a Podcast Series in 2022

    To start your own podcast, you’ll need some basic equipment, a quiet space to record and a topic you’re passionate about. Content creation is at the heart of podcasting, so it’s important to plan your episodes carefully and ensure they offer value to your listeners.

    Podcasts make money in several ways, primarily through sponsorships, advertisements and listener donations. Additionally, podcasting opens up opportunities for passive income. For instance, you can repurpose podcast content into blog posts or self-publish your episodes as a series of books.

    Bear in mind that creating a successful podcast takes time and patience. Still, with commitment and the right strategies, it could become a profitable online business that not only makes money but also allows you to connect with audiences on a personal level.

    3. Virtual assistant business

    In today’s fast-paced digital world, many entrepreneurs, professionals and small business owners are in need of virtual assistance, administrative tasks that are handled by a remote worker. Starting a virtual assistant business can be a cost-effective online business idea, given that it generally requires little more than a reliable internet connection and strong organizational skills.

    A virtual assistant’s tasks can range from managing emails and schedules to handling social media accounts, data entry and more. Depending on your skill set, you might choose to offer services in a specific area, such as social media management or administrative support.

    Platforms like Upwork are commonly used for finding virtual assistant gigs. You can create a profile, set your own rates and apply for jobs that suit your skills. Over time, as you build a reputation for reliable, high-quality work, you can increase your rates and even hire other virtual assistants to grow your business and make money online.

    The key to starting a successful virtual assistant business is identifying and marketing your skills to the right audience. With minimal startup costs and the potential for significant income, becoming a virtual assistant is one of the best online business ideas.

    4. Freelance graphic design

    In the world of digital business, aesthetics matter. Companies are always in search of freelance graphic designers to help them create logos, marketing materials, social media graphics and more. If you have a knack for creating visually appealing designs and understanding branding, starting a freelance graphic design business might be your path to digital entrepreneurship.

    Related: How To Be a Freelance Graphic Designer?

    Freelance platforms like Upwork, Freelancer and Fiverr can be used to find graphic design work. These platforms allow you to create a profile, showcase your portfolio and apply for projects that match your skills.

    A key aspect of building your freelance graphic design business is creating a portfolio that showcases your skills and abilities. It’s also essential to continually improve and expand your skillset as technology and design trends evolve quickly.

    While the startup costs for a freelance graphic design business can be relatively low, the potential for income can be quite high, especially as you gain experience and establish a reputation for quality work.

    In digital entrepreneurship, each journey begins with a single step. Whether starting a virtual assistant business or becoming a freelance graphic designer, the key is to choose an online business idea that aligns with your skills and interests, then pursue it with dedication and passion.

    5. Online courses and tutorials

    The demand for online learning platforms has skyrocketed in recent years, creating a lucrative opportunity for entrepreneurs who are experts in their fields. Creating online courses and tutorials is an excellent way to share your knowledge, build a community and generate a steady stream of income.

    Online courses can be created on a variety of subjects, such as web design, digital marketing, data entry, business planning and more. Platforms like Udemy, Teachable and Coursera make it simple to create and sell online courses to students worldwide.

    As an online course creator, you not only create the course content but also market it to potential students. Successful marketing strategies might include SEO, content creation on a blog or YouTube channel and social media marketing.

    With some upfront effort in creating the course and setting up your marketing strategy, online courses can become a source of passive income, earning you money any time a new student enrolls.

    6. Dropshipping business

    Dropshipping is a business model where the business owner sells products without holding any inventory. When a product is sold, the seller purchases the item from a third party, who then ships it directly to the customer.

    This business model has relatively low startup costs, as there’s no need to purchase and store inventory upfront. Websites like Shopify can integrate with dropshipping plugins, making it easy to create an ecommerce site specifically for dropshipping.

    However, dropshipping requires diligent research and management. It involves choosing the right products, finding reliable suppliers and managing customer service. Marketing, particularly through social media platforms and SEO, is crucial in driving traffic to your dropshipping website and converting visitors into customers.

    With the right approach, a dropshipping business can provide a great source of income while allowing you to avoid the typical responsibilities and overheads of traditional retail.

    7. Self-publishing

    Self-publishing is a profitable online business model where authors write, design and publish their own books, typically in digital and print formats. Thanks to platforms like Amazon Kindle Direct Publishing, Apple iBooks and Barnes & Noble Press, it’s easier than ever to publish your own books and make them available to readers around the globe.

    If you’re a freelance writer or blogger with your own website already, you may be looking for great business ideas to further monetize your skills. Self-publishing a book would make a lot of sense — you’ve already captured your target audience, you have strong copywriting and proofreading skills and your work is in demand and very low cost.

    Additionally, you don’t need a complex new business plan or expensive website design or editing software to self-publish a book and potentially make a lot of money.

    This business model offers the potential for passive income, as once your book is published, it can continue to generate sales without any additional work on your part. However, successful self-publishing requires more than just writing a book; it also involves marketing your book to potential readers. This might include building a website, growing an email list or using social media marketing.

    With creativity, writing skills and the right marketing strategy, self-publishing can become a profitable and fulfilling online business.

    Choose a path that fits your interests

    Entering the world of digital entrepreneurship opens a world of innovative online business ideas. The opportunities are endless, whether it’s creating a popular ecommerce store, becoming a social media influencer, teaching through online courses or selling self-published books.

    However, it’s important to remember that building a successful online business takes time, dedication, and a willingness to learn. With patience, persistence and passion, you can turn your online business ideas into profitable ventures.

    No matter your skills or interests, there’s likely an online business opportunity that’s a good fit for you. Start exploring today, and you could soon be on your way to digital entrepreneurship success.

    Explore more on Entrepreneur.com and get to know how other digital entrepreneurs have succeeded in their ventures.

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    Entrepreneur Staff

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  • No. 1 Hot Side Hustle in 2023 Is Something You Might Already Do | Entrepreneur

    No. 1 Hot Side Hustle in 2023 Is Something You Might Already Do | Entrepreneur

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    Nearly two in five U.S. adults work a side hustle, according to a new Bankrate survey.

    The opportunities are endless: from your run-of-the-mill tutoring and dog walking to more attention-grabbing examples, like retirees who rake in $20,000 per month answering questions online or people who turn simple household chores into lucrative new gigs.

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    Amanda Breen

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  • How Entrepreneurs Can Use Books to Attract High-Value Clients | Entrepreneur

    How Entrepreneurs Can Use Books to Attract High-Value Clients | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    In a rapidly evolving business environment, competitive differentiation is no longer a luxury but a necessity. Entrepreneurs must continually innovate and leverage strategies that set them apart from the crowd. The task isn’t simple, but it’s indispensable. Among the arsenal of strategies that can be used to attract high-value clients and position oneself as a leader in the industry, authoring a book has emerged as a powerful tool. Yet, this technique remains underutilized, with many entrepreneurs not realizing the profound impact a book can have on their professional image and clientele.

    Establishing authority and dedication through authorship

    The process of writing and publishing a book is arduous, requiring intensive research, a deep understanding of the subject matter and the ability to articulate complex ideas clearly and engagingly. The rigor and diligence involved in this process inherently project the author’s authority on the subject, portraying them as experts in their field. This projection of expertise serves as a compelling magnet, drawing high-value clients seeking specialists, not generalists, to solve their challenges.

    Moreover, the commitment and dedication inherent in authoring a book serve as testimonials to the entrepreneur’s resilience and perseverance. These traits, highly sought after in the business world, resonate with high-value clients. When an entrepreneur takes the time and makes the effort to write a book, it demonstrates that they are willing to tackle significant challenges, follow through on their commitments and produce valuable results. This resilience cultivates trust and confidence in potential clients, making the author an attractive choice.

    Related: 4 Ways Writing a Book Accelerated My Professional Career

    Sharing unique insights and innovative solutions

    In addition to establishing authority, a book provides an unmatched platform for entrepreneurs to share their unique insights and innovative solutions. It allows them to delve deep into the industry’s challenges and present their groundbreaking approaches to solving them. This visible display of creativity and problem-solving aptitude attracts high-value clients looking for unique, cutting-edge solutions.

    Additionally, a book allows entrepreneurs to discuss and predict emerging trends in their field, thereby positioning themselves as forward-thinking and proactive leaders. By showcasing their foresight, they further appeal to high-value clients who value being on the cutting edge of their respective industries.

    Sharing personal experiences and narratives is another crucial aspect. Entrepreneurs humanize themselves and their brands by weaving their journeys, challenges and triumphs into the narrative. This authenticity and relatability create an emotional connection with potential clients, making the author and their services/products more appealing.

    Related: How Entrepreneurs Can Make Money Writing a Book

    Building credibility and fostering connections

    Publishing a book can significantly enhance an entrepreneur’s credibility. The author’s commitment to their field and ability to articulate and share their knowledge is spotlighted in a tangible form, contributing to their perceived credibility. When it comes to attracting high-value clients, credibility is a key factor; these clients are often looking for proven professionals with a track record of expertise.

    Furthermore, books can serve as powerful tools for building relationships. A book that offers tangible value in the form of actionable advice, valuable insights, or fresh perspectives can serve as a magnet for potential clients. By engaging readers and encouraging them to think differently, a book opens the door to further discussions, networking opportunities, and, ultimately, the establishment of meaningful connections with potential high-value clients.

    The long-term impacts of book publishing

    Unlike many other forms of content marketing, a book provides long-lasting benefits. Its impact extends far beyond its initial release, providing a long-term return on investment. The content of a book remains relevant for years, continuing to draw new readers and potential high-value clients long after its publication.

    A book is a timeless asset that keeps giving back. Its longevity means the benefits of publishing a book extend far into the future, unlike a blog post or social media update that might quickly fade from memory. The published book keeps the author’s name and expertise circulating, continually attracting potential high-value clients.

    In essence, a book is like a business card that doesn’t get discarded — it sits on bookshelves, gets shared among peers and remains available online, continuously making an impression. This continual client attraction is another compelling reason for entrepreneurs to consider writing a book.

    Conclusion

    In a business world where differentiation is the key to standing out from the crowd, a book can provide that unique edge. By establishing authority, showcasing unique insights, building credibility and fostering connections, a book becomes more than just a product; it’s a tool for personal branding and client attraction.

    The impact of publishing a book goes far beyond the immediate short-term benefits. Its influence continues long after the initial release, providing an enduring testimony to the author’s expertise and a persistent attraction for high-value clients. In a competitive business environment, entrepreneurs who leverage the power of a book can position themselves for greater success and a more robust professional presence.

    In closing, a book is more than just an aggregation of pages filled with words. For entrepreneurs, it’s a platform to demonstrate their expertise, share their unique perspective, connect with high-value clients, and differentiate themselves from the competition. With these long-term benefits, it’s clear that a book can be a potent tool in an entrepreneur’s arsenal for attracting high-value clients.

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    Vikrant Shaurya

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  • Creating the Multi-Million Dollar Skinny Confidential Empire | Entrepreneur

    Creating the Multi-Million Dollar Skinny Confidential Empire | Entrepreneur

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    Lauryn and Michael Bosstick, the wife and husband co-founders of The Skinny Confidential beauty, media and lifestyle brand, recently joined Entrepreneur+ members for an intimate Subscribers-Only Call. You can join in future live Q&As with some of the biggest names in business by signing up here.

    Following their amazing talk. Lauryn and Michael shared the following insights into how they grew their side hustle into a media and commerce empire, and offer their advice for anyone looking to launch and grow a passion project. (Answers have been edited for length and clarity.)

    Tell us about your roles.

    Michael Bosstick: I am the founder and CEO of Dear Media. We not only produce podcasts in audio and video format but also invest directly into creator-led commerce brands, live events, and merchandise. My side hustle is being the co-host with my wife Lauryn of a popular show called The Skinny Confidential Him & Her. We recently surpassed 200 million downloads.

    Lauryn Bosstick: The Skinny Confidential started as a blog 12 years ago and has evolved into a resource that’s focused on wellness and beauty. We speak to all kinds of high performers who share their stories and tips when it comes to life, business, relationships, sex, supplements — nothing is off limits. I’ve also authored two books and I am a mom to two kids.

    What inspired you to create this business?

    LB: The Skinny Confidential community was 100% the reason behind the product line. Through the blog and social media, reading DM’s and comments, I knew that a line of preventative beauty tools specializing in high quality, aesthetically pleasing (we’re so sick of sterile, white eyesores), efficient and classic but innovative would be welcomed. There was never an “aha” moment. Everything with The Skinny Confidential was steady-paced and strategic. We made sure we were thoughtful about every single product we launched, which is why it took four years to launch the HOT MESS Ice Roller. Saying that, whenever I get comments or emails about how much The Skinny Confidential product line has helped our community, it gives me a little aha feeling, because we’re just so proud of what we’ve created with the help of our readership.

    Related: What I Wish I Knew Before Starting My E-Commerce Business

    MB: When Lauryn started creating content online in 2010, the term influencer didn’t even exist. She was primarily creating content on her blog at the time. As the brand evolved and social channels started to emerge, we decided to work on something together. That resulted in the podcast. After self-producing for about a year we joined a prominent podcast network thinking they would take care of the major pain points. We quickly realized that they had very little understanding of how to marry an audio platform to other digital platforms, so we went back to self-producing. That experience led me to the realization that there was a more effective and more lucrative way to produce audio content. After analyzing the market and seeing that there was very little female representation, we decided to create Dear Media which now hosts over 80 shows and growing.

    How did you know it was time to turn your side hustle into your main hustle?

    LB: I was a bartender while building the brand and there was this moment when I realized to scale the business, I needed to focus on it full-time. So I quit. I never looked back. Looking back wasn’t an option. The only option was The Skinny Confidential, full speed ahead. I had big plans for the brand.

    MB: After about two years of producing our podcast, we started to see a ton of traction. The audience on that platform was growing faster than any other platform and the revenue started to become meaningful. I had a feeling that we would also be able to bring that kind of success to other creators in our space and felt the moment to go all in on audio was there.

    What has been your biggest challenge and how did you pivot to overcome it?

    MB: The hardest part for me personally running a company like Dear Media was learning how to deal with talent, talent agencies, managers, and lawyers who come from the media/talent world. As a former commerce executive, this was all foreign to me. I had to learn about a whole new world that I wasn’t familiar with. I think this ended up becoming a superpower in the end because I was able to put my own spin on things. I also think it enabled Dear Media to operate the way it needs to operate without having to worry about “how things have been done traditionally.”

    Related: Turn ‘Likes’ into Easy Sales — Why Social Commerce is Crucial for Growth

    LB: The biggest challenge has been delegating and having a team. It’s a work in progress, but the team is so incredible, it’s getting easier to let go of things. When you’re a solo entrepreneur, you’re used to doing everything yourself. It’s one thing to ask for help when you realize you need it, but to actually give it up and not have your hand in every cookie jar is a real challenge. But like I said, everyone on the team is so damn effective at what they do, it’s just getting easier and easier to let them take over certain things. That being said, I still have my finger on the pulse. I am a detailed person by nature and I am always listening to the audience. They’re the hero.

    What advice would you give entrepreneurs looking for funding?

    LB: Know your investor demographic. Check out their social media, look at what other brands they invested in, see if your product is one they would actually use & love, or at least find a way to make your product/brand a part of their lives. Knowing your ‘audience’ will give you a better shot. Also, be bold. Desperate or nervous energy turns people off.

    MB: Investors are very savvy, and their entire job depends on finding great companies. Get loud with what you are doing and create enough noise that it grabs the attention of the right investors. It’s also easier to close a deal when the fund or venture has pursued you. This doesn’t mean you won’t have to pitch them like hell after, it just creates a different dynamic where you have more leverage than if you were the one pursuing from the start.

    What does the word “entrepreneur” mean to you?

    MB: Someone without a safety net or backup plan. Their only plan is to go all in on their idea and there is nothing stopping them from executing on their vision. They are also probably a little crazy.

    LB: Working on your business, not in your business. A true entrepreneur is always evolving and creating and moving the needle of the business.

    What is something many aspiring business owners think they need that they really don’t?

    MB: A lot of capital. We started our podcast with 100 dollars in equipment and no funding. We then started Dear Media ourselves without any outside capital. We slowly bootstrapped the business and optimized our model all the way to series A. I think glorifying capital raises for the sake of raising has been a big mistake that we are all seeing now. Bring capital on when you need it. It will also be cheaper capital once you’ve executed well without it.

    LB: Besides thinking they need lots of money, they’re what I call a “forever student.” They’re putting off launching because they feel they need to read or go to school or have a mentor. They don’t. They need to execute and learn as they go.

    Related: 21-Day Plan to Grow Your Instagram Following

    What is a book you always recommend?

    MB: Lonesome Dove by Larry McMurtry. It has nothing to do with business and everything to do with the fragility and simplicity of life. It’s a good reminder to live life to the fullest and enjoy the time you have here.

    LB: The Slight Edge by Jeff Olson. Essentially it’s about always coming back to what made you popular in the first place. For me, that’s the blog — it’s the mothership. Another one I like is The Daily Stoic by Ryan Holiday Stephen Hanselman. It is especially a good one for women in business. It really strengthens your emotional intelligence and helps you move on from what you cannot control.

    Is there a particular quote or saying that you use as personal motivation?

    LB: “Protect your peace.” Say no, carve out time for what makes you happy and what’s important to you, recharge, read, read more, meditate. Thinking time is essential to building a massive business.

    MB: “The coyotes howl, and the caravan keeps moving” I can’t remember who said it but I’ve always loved it. I think as entrepreneurs and content creators we will always be met with moments of self-doubt. There will always be people who say things we don’t like, who doubt us or dislike us. It’s critical to find a way to keep pushing forward while blocking out the noise. If you start reading your own press clippings or reviews, it can really slow you down and make you doubt yourself. So onward! And with no regard for what the coyotes are howling about.

    Entrepreneur+ is the only news subscription focused on curating the best industry news and success stories to make them work for you. We pluck the best business lessons from our network of CEOs, founders, and other successful entrepreneurs. Join today and start seeing a difference in how you make decisions in your home and work life.

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    Dan Bova

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  • She Ditched Corporate Life and Bet on Herself. Did It Pay? | Entrepreneur

    She Ditched Corporate Life and Bet on Herself. Did It Pay? | Entrepreneur

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    On this episode of “Entrepreneur Elevator Pitch,” find out if a new food company has investors digging in or saying no thanks.

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    Entrepreneur Staff

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  • Are These 10 TikTok Side Hustles Right For You? | Entrepreneur

    Are These 10 TikTok Side Hustles Right For You? | Entrepreneur

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    Many TikTok side hustles promise big money for little effort, but do they work?

    To find out, I spoke with Daniella Flores, founder of ILikeToDabble.com. Daniella is a self-proclaimed side hustle queen who went from 0 to 12 income streams in 4 years, paying off over $40,000 of debt in the process.

    Daniella broke down a bunch of trending TikTok side hustles on my podcast, The Side Hustle Show. You can hear our full interview below.

    Here’s a summary of our conversation.

    1. Drop-shipping

    In drop-shipping, suppliers ship products directly to customers on your behalf.

    Daniella dabbled in drop shipping, running a print-on-demand store on Etsy. Print-on-demand is a fulfillment process that drop-ships products to customers only after a sale goes through.

    Using tools like Canva, Printify, and Printful, Daniella designed and sold custom products online for bachelorette parties, such as T-shirts, hoodies, and wine coolers.

    Daniella preferred Etsy over other e-commerce sites because of its large user base. Users on Etsy also tend to search for niche products, so as long as you target the right keywords for your niche, you should be able to drive traffic to your store easily.

    Etsy also charges as low as $0.20 for each item you list, and you won’t need to do as much marketing there as you would on Shopify and other online marketplaces.

    But drop shipping is labor intensive. Daniella shut down their store after a few months, realizing how much customer service went into it.

    Daniella’s advice on drop-shipping as a side hustle? Do SEO and talk to manufacturers first before launching in.

    Related: 15 Easy Side Hustles From Home to Make Extra Money

    2. Transcription

    TikTok users have suggested transcribing as a side hustle by signing up for Rev — a speech-to-text service — then running the audio through a free speech recognition software like Dictation.io.

    You’ll still have to double-check the quality of the transcriptions, but you can make $1 per finished-audio minute doing this side hustle. One TikTok user claims you can easily make $500 daily on Rev if you work eight hours daily.

    But Daniella did some digging and found that some freelancers made as little as $100 a month on Rev. Many also worked eight hours a day — not exactly a side hustle.

    Ultimately, Daniella thinks transcribing on platforms like Rev is a great side hustle for beginners but not for those who want to make real money on the side.

    3. Low-content publishing

    This involves uploading an almost blank book to Amazon and having the company print and ship it on your behalf.

    Think journals, diaries, planners, sketchbooks, and notebooks. With these types of books, the value comes from how you’ve structured the mostly-blank pages and prompts and who you’re targeting as your customer.

    For the most part, low-content publishing is marketed on TikTok as a shortcut for those who don’t have the expertise or the time to write and self-publish a 25,000-word book.

    But as Daniella observed that most TikTok users who do low-content publishing never give distinct numbers or show anything on the back end. They often focus on the creation part, which seems easy enough until you have to sell the book on Amazon.

    Low-content publishing on Amazon is a highly competitive space where people pretty much throw their products at the wall and see what sticks.

    That’s why Tammie Chrin, a long-time Side Hustle Show listener, developed her method for creating branded books for businesses featuring their content. She calls it KDP (Kindle Direct Publishing) 4 B2B.

    With this method, rather than rely solely on Amazon for sales, you go to existing businesses and create custom books for them that they can buy or gift to their customers.

    4. Selling printables

    You create the products on programs like Canva or Adobe Photoshop and market them to your target audience.

    The best part? You don’t need to ship anything or meet anybody in person. As soon as someone buys your printable, all they need to do is download it.

    TikTok users say this is a great source of passive income, but Daniella says that’s not entirely true. “You’re still a business. You have to provide customer service — all that fun stuff.”

    And as with any online business, you probably won’t make much money doing this for the first few years.

    Nonetheless, this side hustle can scale once you get the hang of it and don’t give up.

    5. Naming companies

    Do you have a knack for names?

    Squadhelp is an innovative crowdsourcing platform for business names, tag lines, logos, and other similar marketing projects.

    For just a few hundred bucks, a startup can submit a proposal to Squadhelp containing the details of their business plan and a request for crowdsourced naming ideas.

    Once the proposal is processed, the startup can hold a naming contest on Squadhelp. Contests typically run for about a week and usually attract tons of user entries.

    At the end of the contest, the startup chooses one name from the pool of entries, and the winner receives a minimum $100 prize. Some contests pay as high as $500.

    The downside? Contests on Squadhelp typically attract hundreds of submissions, so your odds of winning are generally low.

    6. Affiliate marketing

    With affiliate marketing, you earn a commission on sales referred through your blog or website.

    On TikTok, creators say they make as much as $2,000 daily in affiliate sales, even though the platform doesn’t allow users to add affiliate links to their videos.

    Some of the ways users get around that are:

    • upgrading to a business account
    • putting affiliate links in their profile bio
    • redirecting traffic to their other social media profiles
    • using third-party tools like Linktree
    • promoting discount codes in their videos

    While affiliate marketing is a legit passive income generation strategy, Daniella says it only works for TikTok users with thousands of followers.

    Also, affiliate marketing is a partnership between businesses, not a partnership between a business and any old TikTok user whose profile can disappear any day, Daniella explains,

    Affiliate marketing can be a great side hustle, just not by itself.

    7. Dumpster diving

    Dumpster diving involves diving through dumpsters, usually at night, to discover what got thrown out. You might have better odds of scoring a good haul if you do this in an affluent part of town or check out dumpsters behind a strip mall near you.

    You could even cut out the middleman completely and talk to your local stores to see if they’d be willing to give their trash to you directly.

    Some TikTok users who dumpster-dive on the side report flipping their finds and selling them for a profit on eBay or Facebook marketplace. Meanwhile, those who are not so lucky share videos detailing their gross or unfruitful experience.

    For those grossed out by dumpster diving, Daniella offers an alternative. Help people unpack after moving into a new home and offer to take things they don’t need.

    Related: This Dumpster Diver Makes $5,000 a Month Salvaging Designer Items

    8. Painting house numbers on the curb

    This side hustle is arguably better suited for teenagers looking to earn cash over the summer. It requires no more than $50 to $100 worth of materials from Home Depot, some door-knocking, and half an hour of painting.

    The only challenge with this is you can pretty quickly saturate your local market.

    9. Niche cleaning businesses

    Niche cleaning services are another side hustle especially popular among TikTok users.

    Daniella shared how they watched a TikTok of kids washing people’s trash cans. The kids would power-wash up to 20 trash cans a day, earning around $2,000 weekly.

    Aside from washing people’s trash cans, you could offer to clean yards, headlights, or gutters. Whatever it is, there’s probably someone out there who’d pay to have it cleaned.

    Low-tech services like these also have little to no competition online, so you could easily create a brochure-style website or a Google Business Profile to find prospective customers.

    10. Freelance content creation

    In this side hustle, TikTok creators make videos for brands. First, they promote the company they eventually want to work with on their page for free. Once they build up an organic following around those brands, they’ll shoot the brands a message and ask if they’re interested in working together.

    Rates vary per creator due to the contract negotiation involved, but creators are paid anywhere from $250-2000 per TikTok video, depending on the brand they’re working with.

    But be warned: This side hustle requires lots of video know-how. “You have to learn about video marketing and short-form content marketing,” Daniella said.

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    Nick Loper

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  • 3 Critical Strategies to Help Your Company Sell | Entrepreneur

    3 Critical Strategies to Help Your Company Sell | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    When you’re getting a new business off the ground, selling it is likely the last thing you’re thinking about.

    However, the truth is that it’s much easier (and much less costly) to develop your exit plan from the start than it is to restructure your company to sell. For business owners, the best course of action is to grow a sellable company right from the beginning.

    Not sure how to develop a sellable business? Here are some tips to get you started.

    Related: 3 Reasons You Should Sell Your Business

    How do you improve sellability while building a business?

    Making your business sellable doesn’t only benefit you when it comes time to make a sale. The businesses that command the highest sale prices are also the most profitable, so when you’re building a sellable business, you’re also setting yourself up for success as a business owner.

    One of the keys to building a sellable business is making early investments to improve scalability over time. You can do that by focusing on the following:

    • Implementing high-quality, efficient technology systems
    • Hiring executive leaders
    • Having financials regularly reviewed and audited
    • Building human capital function

    These might sound like obvious investments to make to some. Still, many founders do not want to make the necessary investments in infrastructure to be able to scale the business, instead viewing it as ‘overhead.’

    Investing in infrastructure from the outset may involve a substantial cash outlay, but it will dramatically increase your business’s value when it comes time to sell. Align Business Advisory, a leading M&A advisory for small and mid-size businesses, also points out that a third-party advisor can greatly help businesses to figure out ways to improve their overall scalability with services like business valuation and exit planning.

    If your company has quality infrastructure that can be built upon, potential buyers are looking at a turnkey sale. You’ll be poised to make significantly more from the sale in this situation. If a buyer sees that they will need to restructure the company for scalability after they purchase it, they’ll pay much less.

    Related: Top 5 Mistakes Entrepreneurs Make When Scaling Their Business To 7 Figures

    How do you help your company sell for a higher multiple?

    Even if your company has already been in business for years, there are still several things you can look at to optimize total value. If you want to make sure you’ll make as much as you can from the sale of your company, start with these steps.

    1. Enhance operational efficiency

    Many smaller business owners are owner-operators; their presence is essential for business success. However, when it comes to making a sale, this situation can dramatically decrease what a buyer is willing to pay.

    Why? If the buyer purchases a business like this, they’re taking on considerable risk. Once you leave the business, there’s a possibility that daily operations will suffer or key customers will leave.

    If you can demonstrate that your business functions well without your involvement, buyers will see a purchase as much less risky, so they’ll likely pay more when the time comes to sell.

    Related: Selling Your Business? Do These 6 Things Right Now.

    2. Optimize gross margin and EBITDA

    Not all revenue dollars are created equal. For instance, If a company must spend $99 to make $100, then that $1 of profit is not as valuable. So, regarding profitability, the cash in your business’s bank account isn’t the only thing that matters.

    To ensure your profit margins are high enough to draw in quality buyers, you’ll want to look at your EBITDA (Earnings Before Interest Taxes Depreciation Amortization) margin profile.

    Your EBITDA margin indicates your operating profit as a percentage of your total revenue. In most cases, buyers want an EBITDA margin of at least 10%. Many buyers view businesses with lower margins as too risky.

    3. Diversify your customer base

    Having one or two customers who routinely spend large amounts at your business can give you a sense of security. But buyers want to see diversified revenue. If most of your revenue comes from a few customers and those customers stop patronizing your company, your finances will suffer.

    In most cases, buyers look askance at any business where a single customer accounts for over 20% of the revenue. They may still purchase your business but are likely to pay substantially less.

    If you currently rely primarily on a few customers for steady income, make an effort to diversify income sources. That could mean offering additional products or services or using targeted advertising to draw in different demographics.

    Related: The 11 Rules of Highly Profitable Companies

    Build a sellable company from the ground up

    Creating a business that’s built to sell can be a challenge, especially if you’re wrapped up in running that business from day to day. However, it is vital that entrepreneurs prioritize sellability from the start of their business journey.

    The tips above provide ways to help maximize your business’s total value and attract quality buyers. By proactively working toward sellability, you are not only positioning yourself for a successful sale, but also setting yourself up for long-term business success and profitability.

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    Peter Daisyme

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  • How AI Can Protect and Improve Your Business | Entrepreneur

    How AI Can Protect and Improve Your Business | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    In the ever-evolving landscape of the business world, resilience is key. The ability to weather storms, adapt to change and emerge stronger is what separates leaders from followers. However, this resilience isn’t a product of sheer will alone — it requires a certain degree of foresight, strategy and an arsenal of powerful tools. One such tool that’s proving to be increasingly invaluable is artificial intelligence (AI).

    During periods of turbulence, AI can serve as a game-changer for businesses, equipping them with the necessary capabilities to not only withstand challenges but also to seize opportunities and forge a path towards growth.

    This article will delve deep into the heart of this topic, exploring the manifold ways in which AI can act as a protector and enhancer of businesses during challenging times. We aim to provide you with insights, examples and action points — strap in for an enlightening journey into the world of AI in business resilience and growth.

    Related: What Is AI, Anyway? Know Your Stuff With This Go-To Guide.

    Leveraging decision-making AI for proactive problem-solving and decision making

    AI can be a powerful tool for detecting and resolving issues before they become full-blown crises. Through data analysis and predictive analytics, AI can alert you to real-time potential issues, from supply chain disruptions to unexpected shifts in market demand.

    When the stakes are high, and decisions need to be made quickly, AI can help businesses navigate uncertainty. AI can provide detailed insights and recommendations through machine learning algorithms that enable data-driven decision-making.

    Related: Redefining Problem-Solving With AI

    AI-Powered risk management

    Risk management is crucial for any business, but during challenging times, its importance magnifies. By predicting market volatility and providing insights into potential threats, AI can help you mitigate risks effectively.

    Artificial intelligence (AI) is revolutionizing the way businesses anticipate market volatility. Traditionally, predicting market trends was a laborious task that required teams of analysts to sift through colossal amounts of data. Today, AI simplifies this process, offering faster and more accurate predictions.

    AI leverages sophisticated algorithms and machine learning (ML) techniques to scan through huge data sets that humans would struggle with. It captures patterns, analyzes anomalies, and interprets economic indicators to give reliable predictions about market volatility.

    Example: Hedge funds like Bridgewater Associates and Renaissance Technologies employ AI to evaluate complex financial markets. They use these AI systems to predict potential stock price changes based on many factors, including economic indicators, geopolitical events and even social media sentiment. With the help of AI, these firms can process and interpret information far quicker than humanly possible, gaining a competitive edge in predicting market shifts.

    Spotting potential threats with AI

    Security threats pose a significant risk to businesses. AI-powered systems can detect anomalies, flag potential threats and even take corrective action, ensuring your business remains secure.

    The use of AI in identifying potential security threats goes beyond conventional practices. With its deep learning capabilities, AI can examine large amounts of data in real time and find patterns that might escape human detection.

    Related: How AI Is Shaping the Cybersecurity Landscape — Exploring the Advantages and Limitations

    For example, a financial institution could use AI to analyze millions of daily transactions. Instead of simply flagging large transactions as potentially fraudulent, AI can identify more subtle patterns that indicate illegal activity. It could look at the frequency of transactions, unusual transaction sizes for a specific customer, or even transactions at odd times. This provides more in-depth insights into the potential threats that businesses could face.

    Businesses can take the following steps to leverage AI in spotting potential security threats:

    1. Implement AI-based Security Systems: Businesses should look to integrate AI-driven security software that provides real-time threat detection. This can help not only in identifying threats but also in taking proactive measures to neutralize them.

    2. Continuous Training of AI Models: AI models learn from experience. Training these models on the latest threat patterns can improve their detection capabilities.

    3. Invest in AI Talent: Having AI specialists on the team can be a significant asset. They can help optimize AI models, interpret the results, and formulate effective response strategies.

    Gaining a competitive edge with AI

    Despite the challenges, tough times can present opportunities for businesses ready to innovate. Using AI, you can gain a competitive edge and position your business for future success.

    AI for automating mundane tasks — AI has already revolutionized several sectors by taking over repetitive and mundane tasks, thus freeing up the workforce to engage in more strategic and creative pursuits. For instance, in the retail industry, chatbots have been programmed to handle basic customer inquiries, leaving more complex queries to human representatives. This not only improves efficiency but also enhances customer experience.

    AI in product development — AI is also changing the face of product development. One example can be seen in the automotive industry. Companies like Waymo, Tesla, and Uber are using AI and machine learning to develop self-driving vehicles. These cars use a combination of sensors and advanced machine-learning algorithms to navigate roads and traffic more efficiently than a human driver could.

    AI in predicting customer needs — AI and machine learning can also aid businesses in better understanding and predicting customer needs. For instance, Spotify uses AI algorithms to analyze users’ listening habits and suggest music that aligns with their tastes, creating a highly personalized user experience. Similarly, Amazon uses predictive analytics to recommend products to users based on their browsing and purchasing history.

    Creating personalized customer experiences — Customers crave personalization in today’s digital world. AI can analyze customer behavior, enabling businesses to offer tailored experiences that boost customer satisfaction and loyalty.

    Artificial intelligence offers the unprecedented ability to collect and analyze vast amounts of data, including customer preferences, shopping patterns, and interaction histories. This allows businesses to create highly personalized experiences that meet and exceed customer expectations.

    Examples

    1. Netflix: A perfect example of personalization driven by AI is Netflix. Their AI algorithms analyze viewership data to suggest shows and movies based on what the user has watched before, their ratings of the previous content, and how they interact with the service. This has led to improved customer experience, higher viewer engagement, and decreased churn rate.

    2. Amazon: Amazon uses AI for product recommendations. If a customer is buying a phone, Amazon will suggest related items like a phone case or screen protector based on other customers’ buying patterns. This personalization makes the shopping experience more seamless and increases the likelihood of additional purchases.

    The Future of AI in Business

    With the increasing capabilities of AI, it’s clear that its role in business will continue to grow. The future of AI in business looks promising, potentially revolutionizing how we work.

    The role of AI in post-pandemic recovery is not just significant but transformative. AI technology provides tools and methods to streamline operations, reduce costs, and drive growth, acting as a powerful engine for businesses to rebuild and adapt to the new normal.

    The global pandemic catalyzed digital transformation, pushing businesses to rethink their operations and strategies. The digitization that was anticipated to occur in a few years got condensed into months, with AI being at the forefront.

    For example, traditional brick-and-mortar retailers that were hit hard by the pandemic had to shift online. AI played a significant role in this transition, from developing intuitive and user-friendly e-commerce platforms to powering sophisticated recommendation engines that enhance the customer shopping experience.

    Potential challenges and ethical considerations

    The use of AI isn’t without its challenges. As businesses increasingly rely on AI, issues related to data privacy, ethics and job displacement may arise, requiring thoughtful consideration and responsible AI practices.

    In a world where change is the only constant, improving your business with AI is no longer a vision of the future but an essential strategy for today. The current era of technological advancement offers both challenges and opportunities, and the smart use of AI will determine who comes out on top.

    AI is no longer an abstract concept but a real and tangible force in the business world, driving resilience, spurring innovation and powering growth. It’s the ally that works round-the-clock, the silent partner that offers deep insights, and the game-changer that provides businesses with an undeniable competitive edge.

    As businesses around the globe grapple with various challenges, from economic downturns to global pandemics, the ability to harness the power of AI becomes not just desirable but critical. Yes, the path may be riddled with hurdles, such as data privacy concerns and ethical considerations, but the benefits of integrating AI into your business strategy far outweigh the potential drawbacks.

    The future of business lies in AI — those who embrace it will lead, and those who ignore it may well find themselves struggling to catch up. So, here’s to a future where AI and business go hand in hand, a future where resilience is a given, and growth is a sustained trajectory!

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    Gajura Constantin

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  • The Magic Words Netflix Co-Founder Wants to Hear in a Pitch | Entrepreneur

    The Magic Words Netflix Co-Founder Wants to Hear in a Pitch | Entrepreneur

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    On every episode of Entrepreneur Elevator Pitch, we learn new lessons about what gets investors’ attention and what leaves them yawning. During this week’s show, Marc Randolph, the co-founder of Netflix, explains that touting your ability to get new customers is fine, but what gets him excited is if you can figure out how to keep them. “The one-and-done model is the surest sign to me that you’re going to piss away all of my money,” he says. “But build a machine that can get the same customer to come back to buy over and over and over again? Well that my friend is lifetime value, and now you’re speaking my language.”

    Related: Watch to See If a Hangover Cure Can Land a $150K Investment in 60 Seconds

    As always, this episode features three entrepreneurs who step into an elevator and have just 60 seconds to pitch their business. If our board of investors likes it, the elevator doors open and the entrepreneurs are invited in to try to make a deal. If the investors don’t dig what they hear? The elevator gets sent back to the ground floor, and the entrepreneurs are sent packing.

    Episode 2 Entrepreneur Elevator Pitch board of investors:

    • Marc Randolph, co-founder and first CEO of Netflix, master of scaling
    • Kim Perell, CEO of 100.co, serial entrepreneur and investor
    • Jonathan Hung, angel investor and venture capital partner

    Episode 2 Entrepreneur Elevator Pitch contestants:

    Who wins, and who gets sent down?

    One tech entrepreneur has an intriguing pitch, but will they be able to convince the investors that it’s different from existing platforms? And on other segments, we see a deal-making brawl break out and a surprise $10,000 investment from Amazon Business that will change the trajectory of a startup that’s trying to do good in the world. Watch and see who gets what!

    Season 9 of Entrepreneur Elevator Pitch is presented by Amazon Business with support from State Farm. New episodes stream Wednesdays on entrepreneur.com. Follow Entrepreneur Elevator Pitch on Facebook, YouTube and Instagram.

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    Entrepreneur Staff

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  • What Is Copywriting? How to Write Excellent Copy. | Entrepreneur

    What Is Copywriting? How to Write Excellent Copy. | Entrepreneur

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    Whether you are a business owner, a social media influencer, a budding entrepreneur or someone simply trying to get their first copywriting job, knowing how to write clear and compelling copy is critical to your success.

    Copywriting is another marketing tool to add to your advertising strategy; correctly written copy can make or break your marketing campaign.

    Continue reading for everything you need to know about copywriting and how to improve your copywriting skills to write excellent copy.

    What is copywriting?

    Copywriting is the fundamental process of writing a copy. Now, you’re probably wondering what copy is, right?

    Copy is written work mainly to help sell a product or service or promote a company’s brand.

    Copywriting encompasses many different avenues. It can include:

    Related: What Does a Copywriter Do? (Infographic) | Entrepreneur

    How is copywriting different from other types of writing?

    The main difference between copywriting and other writing professions, such as content writing, is that it always includes a call to action (CTA).

    A call to action is essential in writing sales copy, as its primary purpose is to help generate sales and brand awareness.

    This is why the copy needs to be informative and tell the reader how to proceed in purchasing a product or service from the company.

    Related: The Real Difference Between Content Writing and Copywriting | Entrepreneur

    What are the different types of copywriting?

    With a form of copywriting being just about everywhere you look these days, it isn’t surprising that most businesses are taking advantage of this form of advertising.

    Continue reading for nine examples of copywriting and what copywriting strategies you can implement into your writing.

    1. Marketing copywriting

    Marketing copywriting is typically the form of copywriting that most people are aware of.

    Some types of marketing copywriting include:

    • Online digital marketing ads.
    • YouTube videos and podcasts.
    • Radio and TV commercials.
    • Flyers.
    • Billboards.
    • Branded stickers.
    • Direct mail.

    This type of copy can be done through paid ads or traditional marketing strategies.

    Marketing copywriting is compelling, clear and concise; the goal is to sell something.

    Related: 5 Myths That Kill Marketing Copy | Copywriting Marketing Messages | Entrepreneur.com

    2. Social media copywriting

    With numerous social media sites available, it is essential when planning your social media copy to use your research skills to figure out where your target audience tends to spend most of their time when planning your social media copy.

    Great copywriters narrow down which social media sites they want to focus on, then they can write the copy accordingly.

    Social media copywriting differs from other copy in a few ways.

    Below are a few of the ways it is different than other copywriting types:

    • Emojis are regularly used in the copy.
    • It is written in a more informal tone.
    • The copy almost always accompanies a visual aspect.
    • The ad might be a paid ad stretching across numerous platforms.
    • The copy then redirects the reader to a website’s landing page.
    • The copy should be clear and short.

    Related: Examples of Social Media Business Ideas | Entrepreneur

    3. Brand copywriting

    Writing effective copy that communicates the brand’s message is of the utmost importance in brand copywriting.

    When writing this type of copy, it can help to keep the brand’s main image and brand voice in mind. This can come from a logo, their theme song, a common phrase they use or even one of their company traits.

    For brand copywriting to do its job, the customer must be the first thing you think about.

    It is essential to know who your target audience is, and you can gain insight into this by utilizing the following:

    • Audience surveys.
    • Targeted focus groups.
    • Blind testing.
    • A/B testing.

    Related: Make Your Brand Stand Out Online Through Better Copy | Entrepreneur

    4. Direct response copywriting

    With direct response copywriting, the primary purpose is to entice the reader to take action immediately.

    This type of copywriting can be used in numerous different ways, including:

    • Landing pages after the customer clicks on an ad.
    • Open-ended emails.
    • Pop-ups.
    • Special limited-time offers.

    When a customer is on a webpage, and a pop-up appears on the screen before they change or leave the page, this is another form of direct response copywriting.

    This method is effective as it helps entice them to stay on the page by compelling them to sign up for something the company offers.

    5. Technical copywriting

    Technical copywriting is precisely what it sounds like.

    This involves writing copy where the primary purpose is to explain the technology and provide a detailed product description to the reader to help sell a specific product.

    To sell a technical product, the copy has to explain to the reader what it is, how it works and why they should buy it.

    Once the customer fully understands the product and its benefits, they can decide whether to purchase it or not.

    As the technology industry continuously evolves, technical copywriters are essential to help the tech industry advance.

    Related: 5 Exercises That Improved My Technical Writing | Entrepreneur

    6. Public relations copywriting

    Public relations copywriting is used to help inform media outlets and the public regarding a business, product or service.

    Often written by a publicist, this type of copy usually details an event the business hosts and is shared with different media outlets.

    Public relations copy primarily aims to form a more personal relationship with the public and other organizations instead of just getting the business’s message across using radio and TV advertising.

    7. Thought leadership copywriting

    This type of copywriting is slightly different.

    Thought leadership copywriting is a type of copy written by a content writer who is a prominent and well-respected member of that industry.

    For example, if a prominent attorney wrote an article recommending that everyone add a specific clause to their Will to help ensure it is legal and binding, that article would be considered to be thought leadership copywriting.

    The main difference between this type of copywriting and others is that it isn’t selling or promoting a product but instead tries to compel the reader to believe a specific idea.

    Related: 10 Steps to Effective Copywriting

    8. SEO copywriting

    With SEO copywriting, the main goal is to utilize specific keywords and phrases that search engines can find to help bring that particular copy to the top of the search results.

    A sales page can be advanced in the search engine results (SERP) if done correctly.

    Related: 7 SEO Copywriting Tips to Get Your Business Ranking on Google

    9. Email copywriting

    One of the primary sources of copywriting work is email copywriting.

    When you utilize email marketing, ensuring that the copy you send out to potential customers is well-written and practical is critical.

    Some components of email copywriting include:

    • A catchy subject line.
    • A well-thought-out preview sentence.
    • A well-written introductory sentence for the body of the email.
    • A riveting call to action.

    Email copywriting can be educational, such as a newsletter or informational brochure, or more sales focused, such as a free trial promotion.

    With email copywriting, B2B copy differs from B2C copy in the following ways:

    • You write for a logical buyer instead of an emotional one.
    • You build a personal relationship with the reader.
    • You encourage the reader to start a conversation with you.
    • You utilize more industry-related terminology.

    Related: If You Aren’t Leveraging Email Marketing, This 7-Course Bootcamp Can Show You How | Entrepreneur

    How do you become a successful copywriter?

    Once you have decided to add copywriting to your business’s marketing campaign or branch out into a new and exciting copywriting career, you will want to ensure success.

    Continue reading for seven copywriting tips on how to become a successful copywriter.

    In-depth knowledge of your client

    If you are writing for a client rather than your own business, in-depth knowledge of their company is vital in helping them reach their goals.

    To do this, it is a good idea to research their industry, including their competitors and how your client fits in.

    The next step to writing good copy is to look at your client’s information to get a feel for their brand and the tone they use.

    This can include looking at their:

    • Webpages.
    • Reports.
    • Documents.
    • Brochures and catalogs.
    • Press release information.
    • Social media pages.

    Once you have done that, it never hurts to check out their competitor’s content to see how other copywriters tackle some of the common challenges you might face in that particular industry.

    Related: 5 Tips for Improving Client Relationships | Entrepreneur

    Know your prospective customer

    This step is crucial in becoming a successful copywriter.

    You need to know your prospective customer in and out to target that specific demographic best.

    To do this, talk to prospective customers. If that isn’t an option, you can also check out online conversations on bulletin boards, social media pages or wherever your target audience tends to spend most of their time online.

    Things you are going to want to keep an eye out for to get more clicks and subscribers are:

    • What motivates your target audience?
    • What problems do they face that the company you are writing for can help solve?
    • What are their hopes and dreams?

    Related: The How-To: Figuring Out Who Your Customer Is | Entrepreneur

    Fine-tune your craft

    Writing is an art. You must take pride in it and continue to work on and develop your talent as you move forward.

    As digital media is constantly changing, to be a successful copywriter, you need to keep up-to-date on the following:

    • Website homepage and landing page development.
    • Email communication practices.
    • Search Engine Optimization (SEO) strategies.
    • Pay Per Click advertising techniques.
    • Social media advertising.
    • Blogging and online article practices.
    • Digital advertising strategies.

    Related: Improve Your Content Game: Four Writing Tips To Fine-Tune Your Articles | Entrepreneur

    Research your industry

    Knowing the ins and outs of the industry you are writing copy for is essential. This is how you can truly become a successful copywriter.

    To do this, read books, articles, blog posts and anything else you can get your hands on regarding the industry you are writing for.

    Researching and knowing your industry backward and forwards will help inspire you to learn what to write and avoid writing about.

    Related: How to Become an Expert in Your Industry | Entrepreneur

    Flexibility is key

    When you are working with your client, being flexible is critical.

    As a professional copywriter, you need to have confidence in yourself and your writing abilities but also know that your writing represents your client’s business and therefore has to be approved and written using their brand voice.

    Write regularly

    Practicing it regularly is a surefire way to improve your writing skills and fine-tune your craft.

    The best copywriters get in the habit of writing every day as it helps keep the creative juices flowing and helps perfect their talent.

    What happens if you don’t have a work project every day?

    No problem. Simply writing in a journal, on your social media page or even on your personal blog can do the trick.

    Related: How Entrepreneurs and Executives Can Develop a Writing Habit — and Why They Should

    Keep track of your results

    To become a successful copywriter, you need to track your results.

    You need to know what strategies are working in getting the reader’s attention and which aren’t so you can adjust your writing style accordingly.

    Learning how to track the data and analytics and figure out your conversion rates can help you produce great copy, which in turn benefits you and your client.

    What is a white paper?

    In the world of copywriting, a white paper is an extensive report or guide on a specific topic and includes the problems typically associated with it.

    A white paper’s main purpose is to educate the reader and help them understand and solve these problems.

    Companies use white papers to communicate their thoughts on a specific topic, making a case for why their product is the best option or presenting their research findings on a particular topic to their readers.

    Related: Can White Papers Help Boost Your Business? | Entrepreneur

    What industries use white papers?

    While previously mainly used by government agencies, NGOs, think tanks, consultancies and financial institutions, white papers have since seen a boom in other industries due to content marketing.

    Any company that utilizes content marketing can benefit from also producing white papers.

    Types of white papers

    There are numerous different types of white papers that companies can use to help promote their business.

    Two main types of white papers include:

    • The first type is the backgrounder, where the product or service’s benefits are explained to the reader.
    • The second type uses a problem-solving approach where a problem is mentioned, and a solution is provided.

    What is a freelance copywriter?

    While a specific company can hire you to produce their copy, you can also branch out and become a freelance copywriter.

    A freelance copywriter writes copy for a company on a contract basis.

    Freelance copywriters can find their work by networking with potential clients or through certain agencies. You can also find freelance work on online job sites such as LinkedIn.

    Related: How to Launch a Lucrative Copywriting Side Hustle | Entrepreneur

    Why choose to be a freelance copywriter?

    There are numerous benefits to becoming a freelance copywriter.

    Continue reading to learn why freelance copywriting might be right for you.

    Accessibility

    Getting into freelance copywriting doesn’t have to be complicated.

    There are no specific qualifications that are required, specialized equipment needed or even any fancy software to purchase besides Word.

    Flexibility

    Being your own boss allows you to decide when you work, what jobs you take and what clients you work for.

    You can even decide to pursue freelance copywriting full-time or part-time to fit your existing schedule.

    You can work at home, in a coffee shop or anywhere else. You can work from anywhere as long as you finish your work.

    Options

    The options for who you work for are endless. You can choose who you work with, from large corporations to small family-run businesses.

    Do you speak another language? Why not utilize that skill and work with international clients as well?

    Related: The Future of the Content Writing Industry | Entrepreneur

    Variety

    Being a freelance copywriter allows you to work in numerous different industries.

    From fashion to agriculture to technology, you can work with clients in various fields, which keeps things exciting as there is always something new to learn.

    Copywriting opens the door to exciting new possibilities

    Whether you decide to work for a single company or you want to branch out into the exciting world of freelance copywriting, the job options are endless.

    You can specialize in social media, technical or marketing copywriting. You can even work in numerous fields to keep things interesting.

    When you decide on a career in copywriting, you open the door to a new world of exciting possibilities.

    Check out Entrepreneur’s other articles for more information about copywriting and how to write excellent copy.

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    Entrepreneur Staff

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  • The Rising (and Expensive!) Cost of “Free” Shipping | Entrepreneur

    The Rising (and Expensive!) Cost of “Free” Shipping | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Covid-19 cemented the expectation of two-day and next-day shipping for “free” with Amazon Prime. Just before Jeff Bezos stepped down in 2021, Amazon had added 50 million subscribers over the pandemic. Back then, Prime was $119 a year, a price set in 2018.

    Now, it’s $139 a year. Amazon recently announced it had updated its inventory management system and search algorithms to reduce the number of touchpoints in the delivery system to keep delivery times low. It’s also added a $1 fee for returning packages when an Amazon pickup/return center is reasonably close by. This and other minimum order limits have shown the shift towards moving costs back onto the consumer for home delivery. It’s not just Amazon, though.

    Walmart has had less luck in the optics of this shift, recently receiving vocal outcry on Twitter about their high delivery prices. If you’re not a Walmart Plus member, you’ll pay up to $9.95 for a delivery fee on regular orders. “Express” delivery is an additional $10, no matter if you’re a Plus member or not.

    So, why now?

    Amazon was trying things during Covid-19, like every huge ecommerce company. There were new problems to solve and plenty of money coming in, but now they’re done throwing spaghetti at the wall. Amazon is cutting back, with over 27,000 people laid off this year and programs like the Scout delivery robots, brick-and-mortar bookstores and Halo health device being shut down. With the experimentation phase over, the main concern is making costs.

    Related: Amazon Increases Prices for Prime Members Once Again. Is It Still Worth It?

    Bezos is gone, so there’s a responsibility to shareholders. Amazon is too large to be a completely lean and trimmed organization, but the core delivery service (200 million subscribers use) must work. To match consumer expectations, they’ve shifted to AI and robotics, emphasizing the “regionalization” techniques to get products delivered faster. They’ve shifted to AI and robotics to match consumer expectations. And it works. It’s good. But…

    Even though Amazon has such expansive warehouse distribution, it’s never going to be perfect. No matter what you have, logistics and robots, 90% will be good… but never 100%. The fully automated sci-fi future is still a ways away, so, for now, we need to be aware of the human element in delivery.

    Drivers, both short and long-haul drivers, are a key human element in the delivery system. People are necessary to move products, either between warehouses or to someone’s front door. Working conditions are tough. There’s no time for breaks, and there are expectations to get packages to as many doors as possible every day. In California, an Amazon Delivery Service Partner organized a union with the Teamsters to secure safety protections and pay increases.

    Related: ‘Amazon Is Too Big to Listen to Anyone’: Dum-Dums Says It Is Losing Millions to Amazon Seller Scam

    My dad is a long-haul driver, and it takes a lot of planning to maintain any semblance of work-life balance. Just to be able to work out, he had to find a gym membership that had locations along his routes in New Jersey. The human element is a limit that can’t be pushed within the delivery infrastructure, or you run the risk of dehumanizing your workforce.

    Drones have been talked about as an option for smaller products. Amazon even announced its new drone last year, but it is still limited in where and what it can deploy — it drops its payload from 12 feet in the air. There’s a “last meter problem” with drone delivery. It has to be safe for the package and everyone on the ground.

    For now, drones will be expensive to monitor and maintain. DroneUp, a Walmart-backed startup, had to lay off part of its workforce, saying new hires will come in the future. Scaling drones to cover the delivery process will work eventually, but that will take time.

    Where does that leave consumers today?

    Do you remember back in 2020 when all anyone could talk about was the supply chain? Container rates were soaring. Delays at L.A.’s ports were growing. It was the only thing we could talk about — until we all stopped talking about it. For a moment, though, there was a collective understanding of how difficult it is to move products around the world.

    Related: What Does ‘Free Shipping’ Really Mean for Retailers?

    As the world slowly bounced back from Covid, and many businesses, like Amazon, came out on top with the monumental shift to buying online, consumers forgot about those supply chain woes. It’s easy to forget — until it starts to hurt their wallets.

    And that’s precisely where they don’t want to feel it. Consumers don’t necessarily want fast. They want cheap. In a survey, shipping cost was 2.85 times more important than shipping speed. Consumers enjoy getting their products faster, but not at the expense of cost.

    It’s a miracle that two, one, or same-day shipping is accomplishable. The amount of advancement in delivery capabilities and logistics in just the past ten years amazes me. I remember when a delivery taking four to six weeks was the average. As our expectations for quick delivery have been surpassed, it may mean we need to pump the brakes for infrastructure to catch up.

    Maybe consumers learn to pay the extra price for delivery, or companies like Amazon and Walmart market a new, relaxed delivery tier; there are ways to put less stress on the system, and it may lie in putting the concept of “free” shipping to rest. Consumers need to know fast delivery isn’t magic and isn’t free.

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    Tyler Metcalf

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  • How My Kids Helped Me Launch a $100K Service | Entrepreneur

    How My Kids Helped Me Launch a $100K Service | Entrepreneur

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    My wife and I pay $4,200 per month for daycare. So, that’s roughly a lot. I get it, the daycare workers provide excellent care for my children and I appreciate them. But that’s still a lot of money. And the way I think about it, I’m pretty much paying, just so I can go to work.

    I’m not saying all this just so you can listen to me complain. I’m telling you this because I want to share how I found a solution to my problem, which was not wanting to pay $4,000 per month for daycare. Or at least find an easier way to do it.

    And if you follow along, you’ll learn how you can take control of your finances by creating revenue-generating services.

    So, here’s how I solved the problem. I started with a lofty goal. I wanted to create a new service that would consistently provide enough revenue to pay my kids’ daycare bill.

    And, that service had to meet the following criteria:

    • It has to be easy to sell based on the obvious value provided.
    • It must be a service that I can sell on an ongoing basis.
    • There must be a natural way to sell those clients additional services.

    And, honestly, this is how we should be thinking about all our services anyway, but this one felt more meaningful because it was designed to pay one specific expense. My $4,200 daycare bill.

    So now I’m going to walk you through how I created this new service based on the established criteria and how you can do the same.

    1. It has to be easy to sell based on the obvious value provided

    People often come to me for help with various aspects of their business. Maybe it’s getting more leads, raising their prices and building their Linkedin presence. All that good stuff. But they sometimes haven’t addressed the most critical part of their business model, having a good offer.

    And, I’ve talked about this before — which you can read here — so I’ll spare you the lengthy recap. In short, you need an offer so good your audience would feel silly saying no.

    I’ll give you an overly obvious example of this: “If you were drowning and I threw you a life vest, would you take it?” Suffice to say, most people wouldn’t turn down that offer.

    So here’s what I came up with for my offer; an accelerated program to help entrepreneurs create an irresistible offer so they can attract and convert high-paying clients. Ready for your first action item? Create an irresistible offer for your audience.

    If you’d like to see an example of this, just head to terryrice.co/convert.

    2. It must be a service that I can sell on an ongoing basis

    Once you have your irresistible offer, let’s talk about how you can sell this service on an ongoing basis. I could have just sold one person on that accelerator program and made enough money to pay my daycare bill.

    But, I wanted to make this offer more accessible to people who may not have as much money to invest in their business. That’s why I decided to create an exclusive workshop — it’s called the revenue accelerator, which is only available to eight members at a cost of $600 per person.

    Reason being, I could charge less per person and wouldn’t need a bunch of people to take me up on the offer. Quick math coming at you.

    8 X $600 is $4,800, so if I sold out, that would be more than enough to pay my daycare bill. I then decided to offer the workshop on a monthly basis. This approach works well for a few reasons.

    Since there are only eight spots available, it was more likely to sell out which builds anticipation for the next workshop. This scarcity encourages people to stop considering and start converting due to fear of missing out. And, ironically, I teach you how to do that in the workshop too.

    So, here’s your next action item. Think of a templated service or workshop that you can sell on a recurring basis with little to no customization needed.

    3. There must be a natural way to sell those clients additional services

    This part was a bit tricky. There isn’t an obvious next step everyone must take after the workshop. Some people may need help with branding, others may need help landing speaking gigs. But then I thought of something everyone needs, accountability. Here’s why.

    According to the American Society of Training and Development if you have a goal, and meet with an accountability partner just once per week, your chance of hitting that goal increases by 95%.

    So, no matter what goal you have I can help you achieve it, just by keeping you accountable. That’s why I created the Strategic Advisory & Accountability Program. And, it’s pretty simple. Every Monday program members fill out their weekly goal sheets.

    They can then meet with me during weekly office hours in order to get real-time support. And, there’s also a Circle community so you can learn from and support your peers. Every Friday members provide a status update, ask more questions, and get video feedback.

    For now, the cost is $500 per month, which I’ll eventually increase. And, I’m still capping membership — this time I’m opening up 10 spots.

    Again, let’s do some quick math: 10 spots times $500 is another $5,000 in monthly recurring revenue for this program. It only takes me a few hours a month to maintain it since my wife is handling community management.

    Tying everything together

    The Revenue Accelerator brings in $4,800 per month and the Strategic Advisory & Accountability Program will bring in $5,000 per month. So that’s close to $10,000 per month and I’m working about a day and a half to earn it. Of course, it takes time to market it, but you get the point.

    This idea stemmed from my frustration around paying a bill and now I’ve set up two revenue streams that bring in $120,000 per year. You can do the same thing, so here’s what I want you to do.

    Pick one bill that you’re sick of paying. That part shouldn’t be too hard. But, if you’re just getting started with your business, keep it small, maybe it’s your cell phone bill. Then, think of a service offering you could provide that will pay for this bill on a consistent basis. Maybe it’s selling an hour-long consulting session and you charge $100.

    That’s it. That’s all you have to do to get the process rolling.

    After the first month, think of another bill that’s a bit more expensive. Maybe it’s your car payment or something like that. Pay that bill and the other bill using the service you’re providing. You get the point, just keep going with the process.

    Try this out, it will work. And if you need help creating your offer, consider attending my next revenue accelerator workshop. You can learn more about it and register by visiting terryrice.co/convert.

    So if you’re ready to stop haggling over prices and want an irresistible offer that attracts high-paying clients, sign up.

    Either way, now is the perfect time to turn your frustration into the fuel you need to multiply your revenue. So get started today.

    Want more details and additional tips? Check out the latest episode of the Launch Your Business Podcast below.

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    Terry Rice

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  • Want to Successfully Start a Business? Start by Getting Off TikTok | Entrepreneur

    Want to Successfully Start a Business? Start by Getting Off TikTok | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    There’s nothing I’m more tired of than 19-year-olds on TikTok selling entrepreneurial advice. Well, there might be one thing: the fact that people listen to it.

    These content creators sell the perception that business is easy; all you have to do is buy a template and plug and play. They promise to teach you how to become rich on the stock market if you’ll only pay them $199/month to do it. But many of the creators giving this advice are not successful CEOs. They’re misleading at best and blatantly dishonest at worst. Unfortunately, an alarming amount of people in our society believe that everything they hear on the Internet is true. But we need to remember that Google is not a replacement for mentorship.

    At the end of the day, you have to find somebody who’s been successful and somebody who has failed — and then learn from both of them. You can’t get that from a 30-second TikTok video.

    What is social media good for?

    Social media is content. Entrepreneurs can never absorb enough content, so long as it’s relevant and reputable. I don’t use TikTok for business advice; I use it to follow my favorite chefs and keep a pulse on what my kids are up to.

    It’s OK to be an entrepreneur or a coach and try to use social media to sell your product.

    But it becomes a problem when people sell a dream that’s not reality. It’s deceitful. And unfortunately, social media makes it pretty easy to be dishonest. In the same way, you can apply a filter to a photo, you can filter reality. And this leads to being catfished on the business side of things. A person having 1.4 million followers on social media doesn’t make them a good CEO — it makes them a good content creator. You have to vet and verify to establish the first part.

    Related: Successful Entrepreneurs Don’t Follow Mainstream Money Advice, And You Shouldn’t Either

    If not TikTok, then who?

    The best advice I can give to someone looking for startup advice is to jump on LinkedIn, reach out to local business professionals who have been successful, and try to meet with them face-to-face. It’s much easier vetting someone’s credibility when they have to look you directly in the eye. But not everyone is who they say they are — LinkedIn doesn’t fact check resumès. Make sure you research by searching the individual’s online footprint and contacting people in their network to verify their reputation. If their online presence is hard to find, that’s a pretty big red flag.

    When seeking a mentor, look for gray hairs. It’s not just because we have more experience; it’s because we likely have more time on our hands. A 31-year-old executive running the same number of companies I do probably has a lot less time; I’m a bit further down the road, so I’ve been able to figure this puzzle out. People in my stage of life are also beginning to think about building a legacy and doing something meaningful with all the knowledge they’ve acquired. It’s wise to tap into that.

    But just as it’s important to seek advice from the right professionals, it’s also important to diversify your perspective. Opinions and recommendations from mentors both inside and outside your industry are critical in widening your lens and creating an all-inclusive view. When you go to these mentors for advice, make decisions that make sense — don’t take shots in the dark by asking generalized questions to people outside your industry. When you look for an outside opinion, choose someone with experience with a problem you immediately need to solve. Maybe they have the financial experience you don’t have or have found innovative solutions to an important tech problem.

    This practice also indirectly introduces you to people who may be able to support you down the road. The person you connect with may have connections to bankers, business insurance reps, etc. Receiving mentorship is more than learning how to run a business; it’s about forming those necessary connections your business will need to survive. Numerous unexpected fires will inevitably pop up that you probably haven’t thought about, and this is how you plan for the unplanned.

    Related: Elon Musk, Richard Branson & Jeff Bezos’ Best Advice for Ensuring Your Startup Doesn’t Fail

    What to expect and how to get there

    Experienced entrepreneurs will tell you the truth: being a CEO is not a comfortable 9-5. It’s an 8-8, and people will have problems at 3 am. Every successful CEO will probably tell you they have 30 sleepless nights a year. If you’re actually invested in your business, that is what it takes. If you don’t work hard, work doesn’t get done. And if you want your team to work hard, you must show up alongside them and lead by example.

    When you approach these potential mentors, there are a few things to keep in mind if you actually want to get their ear. The first is to do your damn research. As an investor, I shouldn’t receive a copy/paste email from you. I want to know why you think I’m the person you need to talk to. Why do you know who I am? What do you think I have to offer you? I’ve received several requests from hopeful entrepreneurs offering to meet me in person and buy me a cocktail, and because they’ve come across as pleasant human beings who have done their homework, I’ve taken them up on it.

    Related: 5 Types of People Who Can Help With Small Business Mentoring

    You can’t replace face-to-face.

    I’m not against online courses, in-person seminars, or other exercises in business education. But nothing can replace face-to-face. It gives you a chance to ask tough questions, be vulnerable and experience their vulnerability in return. The result is a much more valuable learning experience.

    I won’t say everything business-related you find on social media is garbage; it’s not. But the opportunity to look someone in the eye and see their hard-won successes (and failures) is priceless. Take the extra time to find “real” human beings to connect with. You won’t regret it.

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    Shannon Scott

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  • How AI is Helping Society Break Free From The 9-to-5 Mold | Entrepreneur

    How AI is Helping Society Break Free From The 9-to-5 Mold | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    As someone who is a huge tech enthusiast, I have been privileged to witness the continuous evolution of technology throughout my career. From groundbreaking innovations like the iPhone to cutting-edge advancements like 5G, the pace at which our world changes never ceases to amaze me. However, amidst this ever-changing landscape, one particular technology has captured my attention and sparked my curiosity: generative artificial intelligence (AI).

    Generative AI, at its core, is a remarkable fusion of human ingenuity and machine learning. Its capacity to go beyond our preconceived limits and generate, imagine and produce is truly awe-inspiring. As someone who has always been captivated by the transformative potential of AI in various industries, encountering generative AI took my fascination to an entirely new level.

    When I first witnessed the capabilities of generative AI, I was left in awe. It’s almost as if the AI possesses its own inherent creative instincts, blurring the boundaries between the realms of human imagination and machine intelligence. While the notion of machines creating art, music, or writing that can rival human creativity might appear daunting to some, with fears of the automation apocalypse rampant, I think otherwise.

    In the 2023 edition of its annual Future of Jobs Report, the World Economic Forum reports that out of the 803 businesses that it surveyed from around the world, 25% believe that the integration of AI tech will lead to job losses, while 50% believe that it will create job growth. AI can only replace humans if you think it will and stop progressing and upskilling alongside it.

    The potential for AI to push the boundaries of what we thought was possible is truly inspiring, and that can be illustrated in the way that it can reimagine the 9-to-5 workday.

    Related: Why Are So Many Companies Afraid of Generative AI?

    Reimagining the 9-to-5 workday

    The traditional 9-to-5 work schedule has long been the standard in the corporate world, but with the rapid advancements in artificial intelligence (AI), the concept of “clocking in” and “clocking out” is undergoing a profound transformation. AI technologies are revolutionizing work, allowing flexibility, personalized schedules and reimagining the traditional workday.

    Every position within every organization holds the potential for reinvention. Accenture conducted a manual assessment of 200 language-related tasks to gauge the impact of generative AI. The aim was to identify which tasks were more likely to be automated or augmented through AI. The results showed that generative AI is projected to influence approximately 40% of individuals’ working hours.

    In this article, we will explore how AI is reshaping the 9-to-5 paradigm and empowering individuals to “flex out” of rigid work schedules

    Related: How ChatGPT and Generative AI Can Transform the Way You Run Your Business

    Embracing flexibility

    Within any given role, generative AI will help automate certain tasks while others will be assisted, freeing up individuals to focus on more meaningful endeavors. Rather than being bound by inflexible schedules, workers now have the chance to embrace flexible work setups that cater to their personal preferences and productivity patterns. Companies can optimize workflows, automate repetitive tasks and streamline processes, increasing employee flexibility.

    Additionally, there will be tasks that remain unaffected by the technology. The advent of generative AI will also usher in many new responsibilities for human workers, such as ensuring the responsible and accurate utilization of new AI-powered systems. This contributes to creating new job roles like AI system managers, AI ethics experts and prompt engineers.

    The rise of remote work

    AI has also played a crucial role in facilitating the surge of remote work, granting individuals the freedom to work from any corner of the globe. The advancements in communication and collaboration technologies, combined with AI-driven virtual meeting platforms, have simplified the process of remote collaboration for professionals.

    The flexibility offered by AI-powered remote work helps eliminate the need for lengthy commutes, reduces overhead costs for companies, and expands opportunities for individuals in remote locations. Moreover, AI-enabled remote work allows organizations to tap into a global talent pool, accessing a diverse range of skill sets and perspectives that can fuel innovation and foster growth.

    Related: How The AI Revolution Is Liberating Workers from the Office

    Redefining work-life balance

    The conventional 9-to-5 work model frequently falls short when it comes to striking a healthy work-life balance. AI is helping reshape this paradigm, granting individuals the liberty to manage their time in a manner that aligns with their personal obligations and outside responsibilities. Nobel Prize-winning economist Christopher Pissarides believes that AI can enable humans to work just four days a week.

    With the aid of AI, flexible work schedules empower individuals to allocate dedicated time to personal endeavors like quality family moments, pursuing hobbies, or prioritizing self-care activities. By nurturing a more harmonious work-life balance, AI isn’t just bolstering employee satisfaction and well-being but also improving productivity and overall job performance.

    A flexible and personalized approach to the 9-to-5 workday

    With the continuous advancement of AI, the inflexible 9-to-5 work model is gradually being replaced by a more adaptable and personalized approach. Professionals now have the chance to break free from the confines of the traditional workday structure.

    Embracing this transformation facilitated by AI can result in heightened productivity, increased job satisfaction, and a more balanced and fulfilling work-life equilibrium. As we progress, it becomes crucial for individuals and organizations to harness the potential of AI to reshape work hours and unlock the full capabilities of the modern workforce.

    Related: It’s Time to Prepare for the Algorithmic Workforce

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    Asim Rais Siddiqui

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  • 4 Profitable Ways to Invest in Real Estate for First-Timers | Entrepreneur

    4 Profitable Ways to Invest in Real Estate for First-Timers | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    When it comes to investing, few sectors offer the level of profitability and stability that residential real estate does. For first-time investors, this venture can be a powerful tool to generate income and accumulate wealth.

    The real estate market, particularly the residential sector, has consistently proven to be a solid investment choice. According to the Federal Reserve’s report on consumer finances, the primary residence accounts for about one-quarter of all wealth among U.S. households as of 2020. Additionally, a study by the National Association of Realtors found that in 2020, despite the challenges of the global pandemic, the median sales price of houses sold in the United States still saw an increase of 6.7%. These stats underline the remarkable resilience and profitability of the residential real estate market.

    When you consider investing, it’s hard to overlook residential real estate’s dual advantages — steady cash flow through rentals and potential asset appreciation over time. Furthermore, real estate investment has a long-standing history of being a hedge against inflation. As living costs rise, so does the value of properties and rental income, providing real estate investors with a level of protection against the dollar’s declining purchasing power.

    For first-time investors, investing in residential real estate can be a powerful tool to generate income, accumulate wealth and diversify an investment portfolio. And while the venture might seem daunting at first glance, there are several accessible strategies that can maximize profitability and mitigate risk. Armed with these strategies and a solid understanding of the market, you’ll be well-positioned to reap the rewards of real estate investment.

    Related: Why Savvy Investors Prefer Investing in Real Estate Over Equities

    1. House hacking

    House hacking involves purchasing a multi-unit property, living in one unit and renting out the others. The tenants’ rent can cover your mortgage and even provide some extra income.

    For example, if you purchase a triplex for $300,000 with a monthly mortgage payment of $1,500, and you rent out each of the two units for $800, you’re receiving $1,600 in rent. You’re effectively living for free and making a $100 profit each month.

    Start with market research to look for multi-unit properties in areas with high rental demand. Financial planning is critical here; ensure you have a solid credit score to secure a favorable mortgage rate. Once you’ve acquired the property, you’ll have to be ready to take on landlord duties such as rent collection, maintenance and conflict resolution. If you’re not comfortable with these tasks, consider hiring a property management company.

    2. Long-term rentals

    Long-term rentals can provide a consistent cash flow while also building equity over time. As a landlord, you can profit from rent payments and property appreciation.

    Consider a $200,000 property that rents for $1,200 per month. After expenses (mortgage, insurance, taxes, maintenance), you might net $200 per month. Over the course of a year, that’s $2,400 in cash flow. Plus, as you pay down the mortgage and the property appreciates, your wealth grows.

    For long-term rentals, the location is key. You need to choose areas with strong rental markets, considering factors like job growth, population growth and economic stability. When it comes to financing, it’s crucial to obtain a mortgage that allows you to generate a positive cash flow. Once you have tenants, you’ll need to manage tenant relations and property upkeep.

    Related: 7 of the Most Common Mistakes Made By Beginner Real Estate Investors

    3. Fix-and-flip

    Fix-and-flip is a more short-term investment strategy. This involves buying a property in need of work, renovating it and selling it for a profit.

    For instance, you might buy a distressed property for $100,000, invest $30,000 in renovations and then sell it for $170,000. After closing costs and expenses, you could net a substantial profit.

    With the fix-and-flip strategy, your first step should be finding a good deal on a property. Look for distressed properties sold below market value. You might need to work with real estate wholesalers or scour foreclosure listings. Budgeting is also crucial. Accurately estimate your renovation costs and potential resale value to ensure profitability. Lastly, you’ll need to manage the renovation process, overseeing contractors or even doing some of the work yourself if you’re skilled in that area.

    4. Short-term vacation properties

    The rise of platforms like Airbnb and VRBO makes short-term vacation rentals an attractive investment strategy. These properties can generate higher income than traditional rentals due to their per-night pricing model.

    For example, a beachfront condo might rent for $1,500 per month long-term. But as a vacation rental, it might fetch $150 per night. If you rent it for just half the month, you’re already making twice as much.

    Location is everything for short-term vacation properties. Choose a property in a high-demand vacation area, considering factors like tourist attractions, seasonality and local regulations. Once you’ve acquired the property, you’ll need to market it effectively. Listing your property on popular short-term rental platforms and investing in professional photography can help attract guests. Lastly, be prepared to handle frequent guest turnover or consider hiring a property management company that specializes in short-term rentals.

    Residential real estate offers an array of profitable strategies for first-time investors. By understanding and leveraging these methods, you can create a robust and profitable investment portfolio. Each strategy — house hacking, long-term rentals, fix-and-flip and short-term vacation rentals — has its unique set of benefits and considerations.

    Related: 5 Proven Steps to Become a Real Estate Millionaire, According to an Investor

    The secret to success in residential real estate investing isn’t much of a secret at all. It’s about diligent research, careful planning and strategic execution. By following the actionable steps provided in this article, you’ll be well-positioned to profit from your first residential real estate investment. However, remember that every investment carries risk, and it’s essential to thoroughly understand these risks before jumping in. Start small, learn as you go and scale up as you become more comfortable and experienced. With patience and persistence, your real estate investments can be a significant source of income and wealth accumulation over time.

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    Ari Chazanas

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  • Turning Side Hustles Into Million-Dollar Brands with The Skinny Confidential | Entrepreneur

    Turning Side Hustles Into Million-Dollar Brands with The Skinny Confidential | Entrepreneur

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    As an Entrepreneur+ subscriber, you have exclusive access to select live events, like our Subscribers-Only Calls, where you can get tips and insights from real entrepreneurs that will help you grow your business or personal brand.

    We are excited to announce that side hustle experts Lauryn and Michael Bosstick, creators of the massively-successful podcast and product line The Skinny Confidential, are joining us on June 8 at 2 p.m. ET. The link is available down below!

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    Entrepreneur Staff

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  • Entrepreneur+ Subscribers-Only Call | June 8: Discover How These 2 Founders Turned Their Side Hustle into a Million-Dollar Lifestyle Brand | Entrepreneur

    Entrepreneur+ Subscribers-Only Call | June 8: Discover How These 2 Founders Turned Their Side Hustle into a Million-Dollar Lifestyle Brand | Entrepreneur

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    If you are looking to make more money or upgrade your side hustle, then join our next Entrepreneur+ Subscribers-Only Call on Thursday, June 8 at 2 PM ET with side hustle experts Michael and Lauryn Bosstick, creators of the massively-successful podcast and product line The Skinny Confidential.

    Learn how they fostered a community of millions through authentic brand building. In addition, gain insights on working with your partner, embracing their strengths, and encouraging clear communication.

    They will cover the following:

    • Their pillars for growing a personal brand into a full-fledged business
    • Tips on how authentic brand building can foster a community of millions
    • How to leverage and nurture your organic community
    • Best practices for working with your partner
    • Strategies for creating content and building products to keep your audience engaged
    • And anything else you want to ask!

    This event is only for Entrepreneur+ subscribers, but you can become a subscriber for FREE. Use code 1FREE at checkout for one month of all access to Entrepreneur.com, including our premium content and the ability to participate in our Subscribers-Only Call.

    What is a Subscribers-Only Call?

    It’s an exclusive, live Q&A for Entrepreneur+ members with some of the biggest and best names in business. On this interactive call, Entrepreneur+ members have the opportunity to talk to real entrepreneurs and get tips and insights that will help you grow your business or personal brand. If you can’t make this one, stay tuned — we hold these calls monthly.

    How to access as a subscriber:

    There are two ways to make sure you don’t miss out on this event. Follow this link for easy setup on your Entrepreneur+ homepage. Or, check your inbox for a [Entrepreneur+ Exclusive] email that contains the private link to the event. We will also notify your email right before the event to make sure you don’t miss out.

    Having issues signing up for the call? Email us at subscribe@entrepreneur.com.

    About the speakers:

    Lauryn Evarts Bosstick is a multi-hyphenate entrepreneur, podcaster, investor, best-selling author, and creator behind lifestyle brand The Skinny Confidential. In 2011, Lauryn launched her brand with a blog that features uncensored advice spanning everything from entrepreneurship, skincare, relationships, wellness and more.

    Under The Skinny Confidential umbrella, Lauryn also hosts the top-rated podcast, “The “Skinny Confidential Him & Her” with her husband Michael, which boasts over 200M downloads and dives deep into the mindset of constantly leveling up. Guests include Ellie Goulding, Barbara Corcoran, Dr. Andrew Huberman and Scarlett Johansson. In 2021, Lauryn released her first products, The Hot Mess Ice Roller and Ice Queen Face Oil, and has continued to disrupt the preventative beauty industry with a line of on-the-pulse tools driven by her community that have repeatedly sold out.

    Lauryn is also the author of two books, The Skinny Confidential: A Babe’s Sexy, Sassy Fitness and Lifestyle Guide, and national best-seller, Get The Fuck Out of The Sun, an in-your-face preventative skincare bible with routines, products, tips and insider secrets from 100+ of the world’s best skincare gurus.

    She currently resides in Austin, TX with her husband and business partner, Michael Bosstick, their daughter Zaza, son Townes and two pups.

    Michael Bosstick is the CEO and Co-Founder of the Dear Media podcast network. Previously, Michael built digital brands and direct-to-consumer businesses. In 2016, Michael and his wife launched The Skinny Confidential Him & Her podcast, which has become one of the top podcasts in the world, hitting over 150 million downloads. Dear Media came after Michael and Lauryn bootstrapped, self-produced, hosted & monetized their popular podcast. This led Michael to believe in the future of podcasts as a platform to launch brands and media properties. After joining a prominent network, it became clear there was a gap in marrying audio to digital channels while capturing new revenue and growth opportunities. The couple went back to self-producing and paved the way for Dear Media’s business model. After analyzing the space, they realized there was little female representation in podcasting. Aiming to change this, Michael partnered with Raina Penchansky and created Dear Media.

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    Entrepreneur Staff

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  • How Trainer Magnus Lygdbäck Went From Small Gyms to Movie Stars | Entrepreneur

    How Trainer Magnus Lygdbäck Went From Small Gyms to Movie Stars | Entrepreneur

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    This story originally appeared on Business Insider.

    I’ve been in the sporting world from as early as I can remember. When I was just 3, my dad would take me to the gym. I played for an elite hockey team as a teenager in Sweden. Becoming a personal trainer felt like a natural progression.

    At 21, I became a certified personal trainer and slowly built up my client base in Stockholm.

    Now, I train Hollywood actors such as James McAvoy, Gal Gadot, and Alexander Skarsgård and singers including Harry Styles and Britney Spears.

    I worked for free a lot in the beginning

    I started as a young, unknown trainer working many free hours and saying yes to everything. Unfortunately, that’s the nature of the industry.

    I slowly built up my client list with successful athletes, entrepreneurs, actors, and artists in Sweden.

    My first high-profile client was Sweden’s answer to Jane Fonda – a trainer known for her fitness videos.

    While it was luck that we connected, I made my luck in a way. I was very aware certain gyms had more-high-profile clientele, so I would work out in those gyms where I would meet these kinds of people.

    I naturally gravitated toward very ambitious, successful people because I was ambitious myself.

    I found a niche in helping celebrities prepare for tours

    When I started working with performers in Sweden, I realized that no one saw them as athletes.

    I created a program to help performers focus on tailored movements and breathing. I would analyze everything involved in a performer’s show — song lengths, dance moves — and created a perfect training plan so they’d be able to execute it.

    My first musician client was E-Type, a European pop star. I happened to be working the day he walked into the gym, and the owner thought we’d be a good fit.

    Working in this niche, I scaled my offering from trainer to celebrity life coach

    I specialized in this kind of training in Sweden in the early 2000s. I would travel with the artists and realized I trained them for only an hour a day in the gym. The rest of their lives were chaotic and could be unhealthy.

    As a result, I became a “lifestyle” coach in 2008 to help artists with structure and healthy habits.

    I give advice on things such as their performances at night. I suggest when they should wake up, what they should eat for breakfast, that they do mental and physical preshow warm-ups, and how to decompress afterward.

    Being an entertainer is an extremely challenging job. I couldn’t do it, and I’m a structured, stable man who lives a healthy lifestyle.

    Networking and luck got me my first gig in Hollywood

    I’d worked with only small Swedish actors until I was connected with Skarsgård for “The Legend of Tarzan” in 2014.

    We had a couple of mutual friends in Sweden, and I’d worked with some artists he knew. It was pure luck that I got to sit down with him to discuss the film. He introduced me to the director, David Yates. We hit it off and I got the gig.

    When Ben Affleck saw “Tarzan,” he wanted to hire me as his trainer for playing Batman in “Justice League.” My Hollywood career snowballed from there.

    A big part of my success in Hollywood is reputation and networking. I’ve now worked with some of the biggest names in music, from Styles to Spears.

    What my schedule is like working with superstars

    Sometimes I work with multiple clients at a time — in one day, I’ve worked with Eric Prydz, Kendrick Lamar, and Baby Keem. But for intense film training, I can spend months training one client six days a week.

    I’m involved in a film really early in production, before most of the other characters are cast. It’s just me and the main character I’m training.

    The average actor takes three to six months to train for a movie; then shooting takes four to six months. I travel out with them and help out on set for the shooting period.

    Unfortunately, when you go full time with an actor, you will lose some of the clients you have back home. I have a small team who trains my clients while I’m away, but some clients leave.

    It can be difficult to be away from your life, your family, your house, and your bed for such a long time. You put everything on hold to go with one person to a location.

    What I do on set

    During filming, I’m in charge of the whole physicality of that person.

    Once filming starts, I travel with the actor, hire them a chef, create their daily menu, and ensure they’re eating right. I help with movement coaching. I’ll teach an actor how to look like a boxer, how to highlight certain muscles, or how to express a certain physical emotion.

    When I trained McAvoy as The Beast in “Glass,” I’d stand off-screen and give feedback like: “Your traps are popping,” or, “You look really animalistic when you do this thing.”

    With Skarsgård in “The Northman,” his character had to swing a sword and an ax, so we worked on ensuring he had flexibility and mobility in his shoulders for those stunts.

    Diversifying my fitness business

    I have so many plans. I’m starting a nutrition-coach app and launching my own line of supplements, and I continue to work with musicians and actors.

    I’ve been working on the new Michael Jackson movie, helping Michael Jackson’s nephew Jaafar Jackson. I’m also going on a summer festival tour with Lamar. There’s plenty to do.

    I’ve been blessed to be around successful people who are the best at what they do. I love training people with so much ambition — whether they’re a CEO or rap star.

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    Ryan S. Gladwin

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  • Make 6 Figures Right Out Of College With This Job | Entrepreneur

    Make 6 Figures Right Out Of College With This Job | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Congratulations! You have graduated from college… Now what? This is a question asked by many new graduates every year, with many struggling to reach that ideal 6 figure pay for years! Don’t get stuck in the system and break out using this method. I will teach you how to make over $100,000 per year by practicing and finding a fully remote job for “appointment setting.”

    Appointment setting

    All you need to do for this job is bring potential clients and a dedicated salesperson together. An appointment setter plays a crucial role in the sales process and acts as the first impression for the brand. You will be in charge of generating leads for the sales team to follow up with.

    With this job, you can make large amounts of money from commissions without having to have the experience and skill of the actual salesperson. This job serves as a great introduction to a career in selling, with a massive potential for growth in career and salary wise.

    Related: The Appointment Economy: Customer Engagement

    Learn the skills

    To find success in appointment setting, you need to have the skills. Fortunately, these skills require no degree or certification and can be mastered quickly. Use free resources like Youtube and Google to learn about the job and how to sell.

    This alone is good enough to find a 6-figure job right out of college, but if you want to learn more about the intricacies of selling and how to win, read these books on sales that shaped me into the salesman I am today: 100M Offer by Alex Hormozi, The Challenger Sale by Matt Dixon and How to Win Friends and Influence People by Dale Carnegie. Sharpen your skills by practicing selling to your friends, family and eventually to ideal clients of your desired field; more on that later.

    Related: 7 Tips for College Graduates Looking to Jump Into the Small Business World

    Find the right company

    When getting into sales, many rookies make the mistake of working for companies that pay high commission percentages but for a relatively inexpensive product. This is why choosing a company that sells a “high-ticket” product or service is essential.

    These high-ticket products are usually in the range of thousands to tens of thousands in price, including automobiles, software, medical procedures and consulting services. This is where the real money is and where just a small appointment-setting position can yield significant amounts of commission and soar to 6 figures.

    But why stop there? With the advancement of technology and the changing office environments post-2020, finding a remote job is easier now than ever before. You can reach that 100k salary working from your home.

    Get hired on the spot with this trick

    To the anxious new grad, this all may seem too good to be true. Though finding a 6 figure remote job in appointment setting is relatively easy, you need to be good at sales to be hired. So here you have two options: One, you could grind at a low-paying sales job until you have enough experience on your resume for years, or you could use this trick to give the company you are applying for an offer they CAN’T refuse! The trick is to show up to your interview with three potential clients under your belt who are ready to schedule a demo with the sales team.

    Not only will you prove you can sell their product, but you will also have made them some business before they even hired you. To accomplish this, research your company closely and find ideal clients for their product through Google and social media.

    Once you find these clients, cold call or message them asking if they would be interested in a demonstration with the sales team. This could take some work, but remember you don’t have to sell the product to these potential clients, just a meeting with the sales team. Reach out to as many people as possible, and once you have three interested people, schedule your interview with the company. With this trick, you have an extremely high chance of being hired on the spot right out of college.

    Related: 3 Books That Made Me 6 Figures That Aren’t About Business At All

    In closing

    Start making six figures this year by becoming a fully remote appointment setter and nailing that first interview with three clients ready to go. The best part is it doesn’t have to stop there — mastering selling will benefit other aspects of your life and career. Once you reach that 6 figure goal, you can spend the time you saved where you would have been grinding with a low wage for years to enhance your skills further and reach your next goal faster!

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    Sean Boyle

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