- The 4 laws of marketing
- How to setup your business legal structure
- Call for guests/ guest wanted
- How To Get Started on LinkedIn
On today's episode of Business Rockstar Podcast:
For any kind of business to be successful, it requires good planning, effort, time and passion. Starting a business can be tricky. However, if you have the right attitude and plan of attack, everything else will work out well. The question is: how do you know where to start? Here are some small business startup tips that can help you become a successful business person in a short period of time.
Gather Up Customers
When starting a business, one of the biggest challenges you will face is finding customers. A business cannot survive without them. Do not wait for the customer to find you, make contacts and start giving away your products. Often, new business owners seem almost shy about talking about their new business. Don't feel like you have to do the “hard sell”. Just care about people and show them that you care. Really go out of your way to show people your integrity and desire to make sure that your product or service solves their problem.
Write a Business Plan and Stick To It
A business cannot be successful unless you have a plan in place on how you are going to start and run it. Create a solid business plan including financial information and establishment of a market strategy. A business plan is important because it allows you to experiment with the strategy for your business on a paper. It also keeps you more accountable and will allow you to look back in a few weeks or months to see if you are on track.
Do Proper Research
It is important for you to know what you are getting into. You can't be successful by jumping into a business without having any idea on how it is done. It is a good idea to become an expert first on your industry, products and services before starting a small business. Also, research your competition to see how to best position your business to compete with them. Find holes in your niche and fill them.
Do What You Love
It is Important to do what you love and enjoy because starting a business needs a lot of time and dedication. Being involved in something you love on daily basis you will be able to overcome the many challenges that arise in businesses. Trying to do a business you despise will only make you miserable in the long run.
Start Slowly and Work Methodically
A small business owner should move slowly. Through this, you are able to control growth and focus on what is important. Don't rush decisions as they form the foundation for your whole business.
These small business startup tips are just the beginning. You must review them and follow up on these ideas on a regular basis.
How To Make A Million Dollars
The running joke is you start with 2 million and although having an inheritance makes this much easier it can be done regardless of your circumstances. With that being said I take issue with the pie in the sky argument that where you start in life does not provide an economic advantage. What do Mark Zuckerberg, and Biz Stone have in common? Neither grew up in poverty. If you can afford to go to an elite university in the top 10 you have a distinct advantage over those with less resources. This backed by countless studies and a pile of data does this mean you just give up if you grow up in extreme poverty? Of course not, rags to riches stories do indeed happen. With that being said what is your best way to become wealthy starting from scratch?
1. Save and start early. This is the easiest one to attain by smartly saving and investing as early as possible.
2. Collect real estate. Have you ever seen Monopoly? The concept is the same in real life if you collect enough real estate and generate enough cash flow wealth can be attained.
3. Start a successful business. Business ownership is one the most common forms of wealth building.
Are you building an empire? Let us know your thoughts in the comments below.
Cannabis Sativa also known as Marijuana is gaining traction as a scientifically recognized medical treatment. Other common more slang names include weed, 420 and pot. There are 3 species of this plant but the hemp variety is one of the most intriguing forms. Hemp for hundreds of years was widely been used in many industrial forms including in rope, textiles and clothing. The industrial uses have been less widely used in today's society because of the negative stigma against marijuana, however the countless useful aspects of this plant are quite obvious.
Another potential use for hemp or other varieties of Cannabis is as a fuel source, much like how Algae is being studied as a method for producing oil. The early evidence of hemp based fuel has been promising. Oil or a biomass compound would be extracted in a very similar way. Could hemp or another type of Cannabis be the energy source that finally replaces fossil fuels?
I firmly believe so strongly in this subject that it has even inspired a new project. One that will change the face of how our energy is produced and provided. What are your thoughts? Let me know in the comments below.
We’ve all heard the dismal statistics: 90% of start-ups will fail. Discouraging, I know. But that still means that 1 in 10 will make it. And many of these companies enjoy levels of success that are almost unfathomable, while founders bask in the joy of contributing something they’re passionate about. Why can’t that 1 be you?
While there is no set formula for start-up success (otherwise, everyone would be following it), there are certain key ingredients that successful entrepreneurs or founders leverage. These, combined with a healthy dash of luck, can help turn your vision into reality.
1. Solve a problem. This might seem intuitive, or like common sense. But many entrepreneurs make the mistake of getting so caught up in their grandiose ideas that they forget to analyze and test whether their product is really solving some sort of problem. The problem doesn’t have to be significant; in fact, a simple solution to a problem that nobody realizes exists is sometimes the best angle to take. But you must be providing a solution, whether it be a brand new solution or a better take on a solution that already exists.
2. Build the right team. From co-founders to subsequent employees, the right people are critical to your success. Look for people strategically. You want others who complement, rather than match, your skillset. Remember that hiring for attitude is just as important as hiring for skillset (I would argue that you can teach anybody anything; but you can’t teach hunger and commitment). Find the people who are ready and able to commit fully – work long hours, motivate themselves (and you!), and roll up their sleeves to get things done. People who are flexible, able to adapt, and who bring their own ideas to the table.
3. Listen to your potential customers. These people ultimately determine whether you will succeed or fail, so their feedback should be paramount. Understand what they like and what they don’t. Value the criticism, as these comments are the most effective in analyzing what changes should be made. Incent customers to provide feedback and thank them when they do. Don’t be so married to your own ideas that you’re unable to flex to the wants and needs of your target market.
4. Find a trusted mentor or coach. Seek out someone who has been there, done that. This person’s advice will be invaluable as you navigate through the different stages of starting a business. As with your customers, be open to the feedback and willing to change course as necessary to optimize your chances of success.
5. Be passionate. Cliché, but true. Don’t start a business with the goal of selling it. Start a business that you never want to sell, because your belief in the product is embedded so deeply. While following the money may lead to short-term success, following your passion will lead to an ever evolving and growing business that can compound in terms of success while fulfilling your innate desire to contribute in a meaningful way.
6. Launch quickly. Planning is very important. A strong business plan will help guide you, your co-founders, and your employees through the prosperous and difficult times, while keeping your eye on the goal. But many would-be entrepreneurs suffer from analysis paralysis, making the mistake of never being able to move beyond the planning stage because the product or website or marketing strategy is not quite perfect yet. Your goal should instead be to plan thoroughly, but launch quickly, understanding that your product and strategy will (and should) change along the way as the market reacts.
7. Have a purpose. Beyond simply offering a product, have a reason for existing. Think through the value you’re adding to peoples’ lives. Part of this is the problem you’re solving, and part of it is understanding your greater vision for the future. What’s driving you to solve this specific problem? As you grow, are there additional opportunities to offer more solutions or assistance on a larger scale? Will your business be scalable beyond this initial product? Understanding your purpose and vision for the future will help keep you from stagnating as your business grows.
Beyond sharing these characteristics, successful entrepreneurs also have a good grasp on business basics such as funding, sales, and development. But these factors alone don’t create successful companies. It is these combined with the various “soft” factors discussed above – along with some luck – that will ultimately launch your entrepreneurial success.
REINVEST YOUR PROFITS – When you first make money, you may be tempted to spend it. Don’t. Instead, reinvest the profits. Buffett learned this early on. In high school, he and a pal bought a pinball machine to put in a barbershop. With the money they earned, they bought more machines until they had eight in different shops. When the friends sold the venture, Buffett used the proceeds to buy stocks and to start another business. No surprise that this is Rule #1. He is the greatest investor of our time and one of the reasons is because he followed his own advice here.
No. 2: BE WILLING TO BE DIFFERENT - Don’t base your decisions upon what everyone is saying or doing. When Buffett began managing money in 1956 with $100,000 cobbled together from a handful of investors, he was dubbed an oddball. He worked in Omaha, not on Wall Street, and he refused to tell his partners where he was putting their money. People predicted that he’d fall, but when he closed his partnership 14 years later, it was worth more than $100 million. In short: Don’t be afraid to be contrarian. Time and time again, we see tremendously successful investors, businessmen, entrepreneurs take a contrarian approach. Wasn’t it John D. Rockefeller who said the best time to buy is when there’s “blood in the streets”?
No. 3: NEVER SUCK YOUR THUMB - Gather in advance any information you need to make a decision, and ask a friend or relative to make sure that you stick to a deadline. Buffett prides himself on swiftly making up his mind and acting on it. He calls any unnecessary sitting and thinking “thumb-sucking.” Buffett invested $5 Billion in Goldman Sachs during the worst moments of the 2008 financial crisis when Wall Street appeared to be melting down. He committed this money in a 15 minute (no thumb sucking here) phone call with Goldman CEO Lloyd Blankfein. Result? A $10 Billion profit in 30 months.
No. 4: SPELL OUT THE DEAL BEFORE YOU START - Your bargaining leverage is always greatest before you begin a job – that’s when you have something to offer that the other party wants. Buffett learned this lesson the hard way as a kid, when his grandfather Earnest hired him and a friend to dig out the family grocery store after a blizzard. The boys spent five hours shoveling until they could barely straighten their frozen hands. Afterward, his grandfather gave the pair less that 90 cents to split. This advice holds not only for jobs, but also for any kind of negotiation, investments, partnerships, JVs, etc.
No. 5: WATCH SMALL EXPENSES - Buffett invests in business run by managers who obsess over the tiniest costs. He once acquired a company whose owner counted the sheets in rolls of 500-sheet toilet paper to see if he was being cheated (he was). He also admired a friend who painted only the side of his office building that faced the road. I think the lesson is also that the devil’s in the details, and that little things mean a lot. The best organizations have a handle on all of the nuances and details of their operations.
No. 6: LIMIT WHAT YOU BORROW - Buffett has never borrowed a significant amount – not to invest, not for a mortgage. He has gotten many heartrending letters from people who thought their borrowing was manageable but became overwhelmed by debt. His advice: Negotiate with creditors to pay what you can. Then, when you’re debt-free, work on saving some money that you can invest. If our country had followed this advice, we wouldn’t be in the financial pickle we’re in now, that’s for sure. Seems like Buffett is not only saying to limit what you borrow, but also very simply to be disciplined, and that’s a key success driver
No. 7: BE PERSISTENT - With tenacity and ingenuity, you can win against a more established competitor. Buffett acquired the Nebraska Furniture Mart in 1983 because he liked the way its founder, Rose Blumkin, did business. A Russian immigrant, she built the mart from a pawnshop into the largest furniture store in North America. Her strategy was to undersell the big shots, and she was a merciless negotiator. This is my favorite of the Buffett Rules.
No. 8: KNOW WHEN TO QUIT - Once, when Buffett was a teen, he went to the racetrack. He bet on a race and lost. To recoup his funds, he bet on another race. He lost again, leaving him with close to nothing. He felt sick – he had squandered nearly a week’s earnings. Buffett never repeated that mistake. The only one making money at the racetrack is the owner. I bet he’s happy he learned this lesson at a young age.
No. 9: ASSESS THE RISKS - In 1995, the employer of Buffett’s son, Howie, was accused by the FBI of price-fixing. Buffett advised Howie to imagine the worst- and best-case scenarios if he stayed with the company. His son quickly realized the risks of staying far outweighed any potential gains, and he quit the next day. Continually assess current and future risks and mitigate those you can to help shape and control your future.
No. 10: KNOW WHAT SUCCESS REALLY MEANS - Despite his wealth, Buffett does not measure success by dollars. In 2006, he pledged to give away almost his entire fortune to charities, primarily the Bill and Melinda Gates Foundation. He’s adamant about not funding monuments to himself – no Warren Buffett buildings or halls. “When you get to my age, you’ll measure your success in life by how many of the people you want to have love you actually do love you. That’s the ultimate test of how you lived your life.” What a great definition of “success.” After all the effort, the blood, sweat and tears, and the battle scars from the business and investment world, the Master defines his success so simply and elegantly.
No matter who you are, you will make mistakes at some point in your business life. Unfortunately the law is not very forgiving - ignorance is not a defence. In this section, we have compiled some of the common legal pitfalls to watch out for when setting up your own business.
Make sure you have written agreements for everything it is time well spent.
Tech Crunch recently posted an article stating on the bright future ahead for millennials. (The generation right behind me) I disagree, in a world of reality tv and instant gratification I worry just how much we can expect of this younger generation. On top of that you have a weak economy creating unrealistic career and job requirements and I see a recipe for disaster. Their is a level of commitment ,ambition and discipline that success requires of us. Maybe that is part of the argument for why they can contribute but not yet lead. My concerns about whether they will pull their weight remain.
The original article can be read here. http://techcrunch.com/2015/07/20/hold-up-millennials-we-dogs-still-know-a-few-tricks
Ten ways you can build content to market your website or business
One of the huge goals of a entrepreneur is to generate traffic and provide value to potential customers and clients. By providing great content you are offering a free means of showing your expertise and value.
1. Build a blog. According to Hubspot, websites that have blogs get twice as many inbound links, 400 percent more indexed pages, and a more than 50 percent increase in traffic, compared to websites without blogs. Search engines and people love blogs these days.
2. Join the conversation with Community Forums. A forum is a discussion site on a relevant subject, hosted and moderated by you, which adds authority, content, and traffic to your website. The registration process to join can give you a very targeted email list.
3. Curation, the most efficient content. Curation is humanly aggregating, filtering, and re-posting the best-of-the-best content on the web, relative to your product or service area. This shows your knowledge and positions your company as a thought leader.
4. Win with engaging contests. Not a new idea, but when used creatively, can entice new prospect traffic and backlinks to your site. People these days love to submit stories, vote on other entries, and receive the recognition of even small prizes or product rewards.
5. Traditional publishing out, self-publishing in with eBooks. You don’t need a real book as a base for electronic books, as people now prefer something akin to a “white paper” on steroids. It’s just another way to demonstrate credibility and attract traffic.
6. Keep them engaged with eNewsletters. These are regular updates, usually monthly, via website and email that help with customer retention, and again remind your customers that you are the expert in your industry. Supplement text here with video and audio.
7. Widgets and badges. A widget is a mini-app that displays or updates data either locally or on the web – to share something of value and interest. A badge is a simple graphic designed for fun, to show support, or promote certain standards online. All highlight you.
8. Look like an expert with Interviews. Here we are talking about interviewing industry experts. By having frequent conversations with experts in your industry, you rank yourself among the top, and show you are connected. You are the company you keep.
9. Videos, stories in motion. Simple videos, less than five minutes in length, you can do yourself and upload to YouTube for display on your website, can turn a blasé idea into a winner. Keep the atmosphere relaxed and fun, to increase traffic, and maybe even go viral.
10. Provide convenience through podcasts. A podcast is basically a non-streaming webcast, usually audio only, for those who want the convenience of downloading and listening via iPod or mobile phone while commuting or working out at the gym. It’s cool.
There are a lot more items of content that could be on this list. But don’t let the number overwhelm you. You don’t need to tackle them all – just pick a few that you think you can do well, and consistently. The key is new content on a regular basis to attract the attention of search engines and new customers.
Too many equate marketing to deception or to a shouting contest as Seth Godin tells us all marketers are liars. Marketing should not be about any of this marketing is showing why your product or service has value nothing more. Take the Ramones for example they never tried to be anything but a punk band their message and their passion is what made them a fan base.
How does this relate to my product you ask? Simple tell them why they want it what it should do for them, what they should do and then shut up and let them decide. They have too many people shouting at them already.