Ideas to change the world.
Actions to preserve the environment.
Hawkins questions: What is my philosophy for designing a product that is successful in the marketplace? I start with thinking about what is the right thing to build, but can I make a difference? It isn’t about getting 5 great people together and figuring out a cool project. The goal in our case has been to bring the benefits of personal computing to a much broader audience.
Please visit the Stanford Technology Venture Program’s Educator’s Corner for more clips.
As the title states this will be a 5 part series of articles on closing a sale. IF your business relies on direct sales for its cash flow, you will need to read all 5 parts. We’ll start off with “assumption” as it is trait that needs to be at the beginning of every sale. Let me explain:
Assumption is the mother of all sales closing techniques and often no other technique is necessary. To detail its power, think back to before Christopher Columbus, everyone was absolutely sold on the idea of the world being flat. It did not matter whether they knew the fact to be right or wrong, because everyone believed the assumption.
So powerful was this example assumption that even renowned scientists could not change the views of society. Nothing was changed until good ole’ Chris went out past the edge and came back to tell his story. That assumption worked for hundreds of years until there was absolute proof of a fact proving it wrong.
So what does assumption do for your sales presentation? Imagine a sale in which you lead off with an assumption to yourself that this sale is absolutely going to close in your favor. Assume to yourself that you have the greatest product this customer will ever see, and that there will be insurmountable benefits rewarded to the customer upon purchase.
When you start off a sales presentation already assuming the sale, you are now a full believer that you will make that sale until you have absolute proof of the assumption being wrong. That’s how assumption works; it is a believed fact until proven false. Taken seriously, assuming the sale will instantly grant you the confidence, to speak as if your product in fact, was the greatest ever created and that there really will be insurmountable benefits to the customer.
The last sentence of the above paragraph is the most important of this entire article. It can be a mouthful to a novice sales person, but with a couple re-reads can be easily understood. I could not reiterate enough how important that sentence is for you to not only understand, but to believe, and practice every call/presentation. Without assuming the sale your ratio of pitches/sales will suffer greatly as you just could not attain the right amount of confidence for a winning sales pitch every time at bat.
So I realize this week seems to be very sex-industry orientated, no matter, someone’s gotta do it. In Australia pole dancing for fitness has become a big industry, something done by housewives, lawyers, mums and daughters. Apparently it is great exercise and puts another ‘fun’ spin on the whole exercise phenomenon.
I have friends that go regularly to weekly pole dancing classes others, who love it so much that they recently had a pole installed into their house. Yep, go figure!
One particular studio was doing promotions to raise awareness of their services which include private tuition, group lessons and party entertainment. My friend happened to be present at one of their promotional sites which, was a traffic island on a busy Melbourne road. Yes you guessed it, the ladies were pole dancing around street signs on well built up areas (obviously clad in more than their usual attire).
Hilarious! They certainly raised awareness and luckily didn’t cause too many head on collisions.
My point is, no matter what your business, getting people talking about it is the first step to success. Now this happened in a Melbourne suburb in Australia yet I sit at my laptop in New York telling you about it. Whether you agree or not, it got people talking, raising its public profile.
It became a point of conversation among travelers and commuters, eliciting media interest and with any luck a bevy of eager participates.
Pole vaulting your competition doesn’t have to include, literally pole dancing around traffic signs but sometimes going above and beyond can provide you with results that ten years worth of leaflet drops and conventional advertising simply can’t.
I spent the majority of yesterday with the Disney Channel buzzing in the background.
They ran a day-long Halloween special. My son’s a real trooper when I’ve got work to do, and he loves to sing along with cartoons.
The Square Pumpkin caught both of our attentions. Suddenly, I was as glued to the screen as my boy, and we were both bopping our heads to the rhythm of this poor little pumpkin’s misery.
Of course all the other pumpkins in the patch made fun of the square squash. And he cried and sulked – as many of us would do if we were cursed with such a fate.
The whole thing brought back so many childhood memories.
I was the square pumpkin. It always seemed to be my inevitable fate – but I sort of reveled in it. In fifth grade I gave all my jeans to the Salvation Army and resolved to only wear pink or black stretch pants. All the other kids in my school wore jeans and I just couldn’t stand to be like the rest of them.
I continued on my square path for a long while – doing things differently than the rest and refusing to cave to peer pressure. I was also one of the only white kids in my school – and much of my “weirdness” was blamed on that. Kids can say and do mean things.
But somewhere in between nerdy and eccentric I became entrepreneurial and one of a kind. College can do that for ya. All of a sudden it’s cool to be smart. It’s cool to start your own business. It’s cool to take the un-beaten path.
If you’re an entrepreneur who’s never gone through the square pumpkin phase – I’d really like to hear your story. I think most of us go through a period of shunning and misunderstanding. We’ve got ideas that challenge the norm – and that’s great game for childish mockery.
Being different can cause pain. But being the same is boring.
Sun Tzu states: “Military tactics are like unto water, for water in its natural course runs away from high places and hastens downwards. So in war, the way to avoid what is strong is to strike what is weak.
Water shapes its course according to the ground over which it flows; the solider works out his victory in relation to the foe whom he is facing.
Therefore, just as water retains no constant shape, so in warfare there are no constant conditions.
He who can modify his tactics in relation to his opponent and thereby succeed in winning, may be called a heaven-born captain.”
With our ventures, it’s important to remain flexible and fluid. We live in an ever-changing business world with ever-changing possibilities. If we aren’t capable of adapting and bending to various circumstances, then we’re likely to snap like a twig when the pressures on.
Sun Tzu makes me think that even if you are doing something right one way, there are still other ways to do the same thing right. For instance, if you have been making money off of Google ads with a certain tactic of yours, don’t become complacent and think that since you have found the “right” way then that’s all you have to do…
It’s best if you continue seeking those “right” ways no matter what. Because when push comes to shove, you’re better off having a war chest of multiple “right ways” than just one that you have been using all along.
Your business ideas must never stop moving; they must constantly evolve and continue to flow like water. Don’t pull your boat out of the water once you’ve reached your destination; keep the motor running and keep that boat moving in the water. Because once you pull it out and it’s time to get moving again… guess what? That boat is on land and now you’ll have to go through many, many steps to get it running again (gas it up, repairs, prime the engine, etc..). Time that can cost your business greatly.
Personally, I like to dedicate an entire wall of my room (re: office) to ideas. I call it the “idea wall.” I simply start an idea by jotting down notes on an 8×11 sheet of computer paper and post that paper on the wall. Every time I have a new idea or an improvement on an existing idea, I take a pen and update the idea on the wall. As I get new idea, I start another section on the wall for that particular idea and so on…
How do you keep the ideas flowing and your venture flexible?
“I never heard of them before!” This is something that no man or woman would ever want anybody to say about their business. When you’re operating a company, regardless of your product or service you always need people to know about your firm and how they can reach you. This is business ownership 101.
There are several different ways of starting a solid buzz within the community about a business, but some companies are beginning to notice the aggressive method of flooding the streets with their company brand or logo in hopes of reaching younger audiences, this is sometimes called guerilla marketing or as I like to call it, “street flooding.”
There are several forms of this street marketing method that many big businesses use like vehicle wrapping, car signs or plates and even graffiti art.
Since a lot of us here at Mind Petals are still in college another method that you could consider is cheap T-shirts and hats with your company on it with some way for people to get through to you, like an email address, website URL or a telephone number.
Many times you can find cheap deals on T-shirts especially if you purchase bulk orders and the design can be done by your local print shop. Another option to consider is purchasing the shirts, the design and printing all online for a good bargain price.
Once you have some apparel with your company name on it, either pass them out on campus to other students for free, sell them at a low, but profitable rate or have your friends sport them around campus.
Also try to make sure that you wear your shirts as much as possible when on campus, at the grocery store or even at gatherings.
You want to be as creative as possible with your design or either have a really catchy phrase or slogan to get peoples attention immediately. The main idea to strive for is to have people notice the marketing tool and remember the name of your business.
For instance many of the real estate investors that I work with constantly walk around with T-shirts and hats that will say something like,”I BUY HOUSES, ANY CONDITION, ALL CASH, FAST CLOSINGS!” CALL 555-555-5555.
The associates that I know have had great success with these inexpensive self-marketing tactics when they wear the clothing out in public. If people begin to ask you questions this also is equally successful for you, because it will give you the opportunity to talk about your company in more detail and pass out some business cards in the process.
This street marketing innovation is simple, can be inexpensive depending on how you arrange the project and is also fun. Start out with a small street marketing campaign just to test the waters with your product or service and keep adjusting it until you find an effective marketing niche to get your company in front of potential customers.
An old friend, someone who reads this column, sent me a cute picture. Uncertain of the copyrights, I have chosen not to display the picture here but the essential jist was as follows: Formatted like one of those “motivational” posters, the caption read: “Entrepreneur: you need to start young”. The inset photograph features a brightly smiling boy of six or seven holding safety scissors at the ready and crude sign reading: “Full Brazilian: 5¢”
Funny as the image is, it also reminded me of my very first entrepreneurial vision. Years before my store storefront in 2001, way back in 1997, I considered starting my own internet-based business. It was a porn business.
Don’t laugh.
I formulated a plan for (ethically) acquiring cheap, original content. The model was affordable and unique enough that I felt I could make a tidy profit after I carved out my niche. The business never materialized because I eventually decided that a working car was a better place to put my hard-earned thousand dollars. By the time I had any hope of putting that much money together again, I was out of high school and paying for college, which leaves very little liquid assets in one’s pockets.
Nonetheless, nostalgia sent me on a whirlwind tour of websites summarizing the current state of virtual smut. I came across the following, enlightening links (all clean and worksafe, I promise):
http://www.straightdope.com/columns/051007.html
http://www.wired.com/news/business/0,1367,42061,00.html
http://www.bloggerheads.com/porn_report.asp
Overall, the outlook presented is pretty grim. That stated, I also discovered a vast array of toolkits and hosting services ready and eager to aid an ambitious smutmonger in their quest for a piece of that still-not-inconsiderable moneymaker, cyber-sleaze.
I was originally going to provide links to some of the more legitimate resources I discovered (this is Tools Tuesday after all), but I have chosen not to as few-to-none of them can be considered worksafe. However, if the above links have not dissuaded you entirely from this course, try a few Google searches with terms like “internet pornography hosting” and “adult web business”.
It is certainly a well-established business model with a growing, worldwide customer base, a solid track record, and very low entry-costs. Provided one does not have ethical or moral objections, a young entrepreneur would be remiss in rejecting the idea out of hand.
I’m honored to announce that Matt Lauzon and Jason Reuben of Paragon Lake Jewelry and Michael Simmons of Extreme Entrepreneurship have all been nominated to BusinessWeek’s Top 25 Young Entrepreneurs under 25 contest.
Matt and Jason of Paragon Lake are some of the most dedicated entrepreneurs that I have come across. Through ups and downs, they have been able to push Paragon Lake forward without looking back.
Paragon Lake can manufacture just about any type of jewelry you’ll need. From necklaces to bracelets, make an order and you’ll received your item within one week.
Michael Simmons is the type of entrepreneur that never ceases to surprise me. From his best selling book, The Student Manifesto, to his recently launched Journey Page, this entrepreneur and his wife Sheena are on their way to changing the entire young entrepreneurship evolution.
Please show you support for these entrepreneurs and the rest of the nominees by voting here.
I hope to see you make the list next year!
Pulling an All –Nighter? Well chances are that you soon will be. What entrepreneur can get away with eight hours of sleep EVERY night?
For most of us: the All-Nighter is an inevitable nightmare. We get tired, restless, bored and jealous of our sleeping roommates.
I’m not so proud to say that I’ve been awake since 2 a.m. But I’m not tired and I don’t owe it ALL to coffee. But diet can be the deal breaker between you and your pillow. If you load up on sugar and caffeine – eventually the pillow will win.
Here are some tips (that have worked to keep me alert most of the time) – for eating your way though a nightly work-a-thon.
Hydrate: Yes, you need lots of water. Stay consistently hydrated throughout the day. Take drinks in a comfortable moderation. There’s no exact proof that you need 8 glasses. Drinking too much will just leave you feeling bloated. But, as you get older – your body doesn’t always let you know when you’re thirsty. Stay away from sugar and caffeine. Even limit juice as it MAY cause sudden rises and falls of your blood sugar and mess with energy levels.
Eat: Eat often and in small amounts. Don’t ignore hunger pangs just because you think eating will slow you down. It’s good to snack on healthy treats like fruit and cereal. In fact, when I’m really struggling to stay awake, and I’m hungry—I always go for breakfast food. It may not be my favorite, but the combo of whole grains and fresh fruits helps keep the metabolism balanced (I advise against eating fruit alone without some sort of grain – the blood sugar thing again).
Peppermint: You know those little star light mints they give you at restaurants? I know I said no sugar, but.. peppermint helps wake up the senses and can be a good way of satisfying your candy craving. I suppose you can find something a bit more natural. Although peppermint tea has consistently put me to sleep, so I prefer the candy.
Stretch: Stand on the balls of your feet, stretch your arms over your head and roll your palms upward. Hold it for a few seconds. Release and repeat. This helps blood flow circulate, and is also a great way to relieve your back and shoulders from tension.
It’s the most ancient transaction spawning a billion dollar industry with devoted fans from every demographic, every household and every socio economic background. But what do you do when you need your business to remain a secret?
I often talk about the power of talking up your services, letting people know what you do and how enthusiastic you are about it. But what if your business is not backyard BBQ conversation? How do you get referrals then?
Recently a friend of mine came clean and told me she was running a stripping agency. I was amused rather than shocked (I have worked in the entertainment industry for over a decade very few things shock me).
I had previously suggested she should network her business more when we were out and now I realized why she hadn’t taken up my advice. Her dilemma now was how to maximize her business opportunities without sacrificing her identity.
Word of mouth – is the best way to attract new customers. Most of her business already came from referrals - happy clients selling your business for you.
Internet presence – the business has a website and google ads have been the number one source of ‘of-the-street’ business.
But how else to gain more clientele?
Well, firstly I suggested she find ways to make more money from the clients she already had, to create spin off merchandise and/or products to compliment her business.
One she had been overlooking for sometime was recommending strip clubs that bachelor party crowds could go to. She was constantly asked where they could go, which club was good, what time it closed ect.
Why not make a deal with one of these clubs? For every patron you recommend, you get a cut of the door. That way your client feels special because you can call ahead and make sure that they are warmly greeted and the venue benefits from twenty, drunk guys prepared to part with their hard earned cash. A win-win situation, with her pocketing some extra cash for very minimum effort.
Of course the other most obvious spin off is merchandise. A kooky shirt to commemorate the occasion, a key chain, a tie anything that can be sold prior, in bulk.
Another idea was to create your own stripper dollars, non-refundable of course. These dollars would be purchased prior and have a kooky design that could also be used as a commemorative item. The guys tip the girls and also feel as if they are not spending money because it’s ‘stripper dollars’.
You see, whether you have a business fit for BBQ conversation or not, there are many ways to overcome obstacles. If you are selling strippers, adult toys or on the other end of the spectrum home made cookies and organic bread marketing success is all about thinking outside the square.
Hawkins talks about the complicated negotiations with 3COM for the spin off of Palm. Discussions lasted 5 months and involved investment bankers and board members. Five different proposals on how to do this were presented to the CEO, and they even proposed spinning off 2 years in the future. However, the final decision involved no doors banging, and no storming out of offices. All said and done Jeff Hawkins did not want to start a company.
Please visit the Stanford Technology Venture Program’s Educator’s Corner for more clips.
If you’re like me, then when you wakeup in the morning all you have to do it take two steps and you’re at your computer, your office. There is no driving, taking the train, or hopping on a bus to get to your office. Your room, house, or apartment is your office and it takes you a few seconds to rollout of bed and get the day started on your computer.
I love waking up in the morning and taking my 5 second commute to my computer desk. It’s a great luxury to work in the comfort of my apartment. I can play music, stare out the window while I work, and have the freedom to do virtually anything throughout my day.
However, what about the entrepreneurs who “do” have the freedom to wakeup and work at home everyday but absolutely hate it? I’ve recently spoke to a few young entrepreneurs who told me that they are planning to get office space; they want to actually wakeup and commute to an office instead of working at home.
When asked why, they stated that working at home is just “weird.” They want some more structure in their workday; they don’t want to live, eat, sleep, and work all at the same place all…day…long… 24/7.
Essentially, they feel like they’re going insane by living and running a business in the same spot and that they feel too inclined to continue working even when the day is over. And if they had an office, they would be able to better draw the line between “work” and “living.”
I’m sure that many of us can appreciate the need for entrepreneurs such as those to want to have an official office. In fact, it’s probably a smart move for many. There have been times when I’ve taken advantage of working at home and have slacked off simply because I knew that I could – we all have.
Adding some structure into your business may be just what you need to give you that extra boost in productivity. It may add some organization into your venture and possibly lead you to work even harder, knowing that you are actually commuting to work as opposed to just waking up and being at work.
What about you – like working at home or somewhere else?
In order to achieve the highest results possible you’ll need to know some SEO (Search Engine Optimization) basics. I’ll explain it for you here “Justin” case.
To start you’ll have to do a little keyword/phrase research. What industry are you in? What would an average person type into the search box to find a site/service/product like yours? Once you have a few ideas for keywords/phrases you’ll need to find out how many times they are searched for each month. (A crucial step) Keyword Research Tool
If you are targeting a phrase like “Real Estate” chances are there is going to be way too much competition. However, if you are in the Real Estate industry this does not mean you are out of luck. Today’s searchers are smart they know how to narrow down their search to what they really want.
Let’s pretend you are a realtor living in Boise, Idaho. Would it please you to have a link to your website on the first page of Google search listings for the phrase “Boise Idaho Real Estate Listings?” I think this would please you very much.
That longer phrase is searched for much less, but it is much more focused. That person is looking for exactly what you are offering. (If you’re offering real estate services in Boise, Idaho) I have already researched this topic for a client and know that I can get a first page listing for him here.
In order to research how many searches a certain keyword/phrase is getting per month use this tool: Keyword Research Tool
So far I have spoken all in an example context, but you can do this for any industry/cause/service/product. Just type in the keyword or phrase you were thinking of using into the box provided by the keyword research tool, and then find one that is still suitable. For best results you want to find a phrase that gets between 50-200 searches per month.
Once you have done your research now it’s time to write your article. If you absolutely cannot write it yourself, no problem, just hire a freelance writer. You can get a 700-1000 word article for about $10…quite worth the price to be on the first page of a Google, or MSN search page.
You’ll need to include your chosen and researched keyword/phrase in your article’s title, and about 5-8 times within the body of the article. Other than that just make sure it’s a quality written piece that focuses on the topic of your keyword/phrase and you’ll have no problems.
Tip: Make sure to link back to your website inside the author bio box, and the linked words should be your chosen keyword/phrase for added insurance.
I’m sure that many of you know that there are plenty of important factors to consider when creating your business venture like financing, legality issues, partnering arrangements, services, products and marketing just to name a few.
It is also equally important to establish a good strategic plan and outline from the beginning of your start up. One simple procedure that can help you stay focused on your company goals and structure a clear standard for your venture is by creating a vision and mission statement.
Vision and mission statements are important because they help provide a simple outline and also they generate the base to construct your strategic planning upon.
Large corporations often spend a lot of human capital and resources to create a vision and mission statement, which they usually use as more of a marketing tool or public relations tactic rather than trying to create a true destiny for their firm.
Since we are small entrepreneurs just starting out we’re not going to waste a lot of capital on strategic management teams or consulting firms in order to say that we have the best mission “slogan” in our industry, which is what many of these big companies ultimately aim to do, you know “keeping up with the Joneses.”
However the young entrepreneur can learn and also benefit from the true underlying value of these statements and create your own to post on websites, place in marketing materials or just to keep between you and your partners in order to make sure that you guys are constantly following the original “idea” of the firm.
So real quick, here are the basics to remember when trying to create your statements. The Vision Statement should be done first before the mission statement and it should be short, precise and to the point. When creating your vision statement the main thing to remember is this phrase is trying to answer, “What do we want to become?”
Many of the best vision statements are only one to two sentences long, so remember it isn’t the length that’s important but rather the content. A clear vision statement will also build the foundation for and lead into the Mission Statement.
Instead of focusing on what you want your business to one day become, your mission statement should focus on the question, “What is my business or what is my business’s mission?” The mission statement is generally more in depth and much longer than the vision statement, but you don’t want to go overboard and write a publication article either. Once you create a good mission statement, more in depth strategies and ideas should begin to flow a little easier.
Basically your mission statement will deal with the present state of your firm or the reason for its creation, while the vision statement focuses on the future state of the business, saying where we want to go.
These two statements are both fairly short in length, but they are extremely important when starting a venture. Even if you don’t have a vision and mission statement and you have been in business for a while, it wouldn’t be a bad idea to go back, analyze your firm and create the statements.
Also remember the statements are not just for show or for fun, they should be truthful, honest and once they are created you should eagerly seek to follow them. When you have a clear idea of your business’s “Vision” and “Mission,” succeeding becomes a little easier because it helps align your intentions and goals with the firm’s industry and product.
There comes a time in any business’s first year that you, the owner, sit down and ask yourself: what can I do without?
Whether it is a cash flow shortfall, an unexpected expense, an emergency, or the sudden withdrawal of an important client, you will find eventually find yourself at the close of month with less money than you expected but not less bills. So the question looms: Who gets this dollar? The landlord or the phone company? The wholesaler or the state tax board?
For my first company, that day came much sooner than anyone would ever hope. For my first small business, I faced those hard questions in my very first month of operation. In the final days before opening the store, my landlord insisted upon receiving both the first and the last month’s rent on my store space before signing the lease—two thousand dollars wiped out the “cushion” my partner and I had set aside for unexpected expenses. Then we cut into our operating capital for an expensive floor restoration and the re-routing of gas and water pipes exposed by the removal of unnecessary internal walls. All of that on top of the expected decorating, furnishing, and inventory expenses.
It came to final days before opening my doors and I made a hard choice. With all our money spent and some of our bills unpaid, I let our advertising budget disappear. Except for the several hundred dollars already paid to the phone company for our yellow pages ad, our first month’s ad budget of one thousand dollars was simply absorbed. It vanished into the blur of other, more visible, more pressing bills and expenses.
Only a blitz of word-of-mouth and gorilla marketing brought in business. We saw very few customers not personally attracted by my partner, myself, or our hardcore cluster of “store loyalists” gathered in the weeks leading up to our opening.
In time we recovered from this rocky start, and, though the store did close late the next year, our closure cannot be blamed upon a lack of customers. Still, I often wonder how different the store might have been if I had found a way to get even a few hundred more dollars into advertising. I wonder if the chilling sense of desperation that hung about the store in the first few painful weeks might have been dispersed by one print ad or a college radio spot.
Hawkins believes that you have to be conscious and methodological about your company culture. The culture starts at the top and permeates to the bottom. The culture at palm is a product culture. High integrity is not just internal, but integrity with vendors, suppliers and customers. A lot of companies keep secrets, but the transparency has been very good for Palm. A good, solid culture can help a company go through the hard times.
Please visit the Stanford Technology Venture Program’s Educator’s Corner for more clips.
You’ve been working hard these past few weeks and now it’s time to relax and have some fun. Make sure to get out of the office, the dorms, and the garages this weekend and enjoy this Halloween weekend as much as you can.
Of course we’re too old (I hope so) to be running around from door to door with pillowcases asking for treats, but we’re not too old to party and have a blast with our friends. If you’ve been working hard and doing everything in your power to grow your company, then you deserve it.
Personally, I plan on taking a road trip to Pennsylvania tonight to visit the Eastern State Penitentiary and based upon the testimonials, I think we’re in for a treat. If you live in the area, you should come by.
Just about anywhere you’re located, there are going to be Halloween festivities happening this weekend. Take advantage of all the college dorm parties and local bars/clubs that are having bashes.
Who knows, if you’re creative enough, you can figure out cool ways to promote your business from all the Halloween happenings. Here are some ideas:
Keep up with Elise and her story of becoming a successful entrepreneur:
“Is taffeta too gouache?”
“What?” Elise asks, confused.
“For the party, for the store: is taffeta too late-nineties-Breakfast-Club-retro? It’s peach.”
Elise looks around the crowded campus commons then back at the girl who has walked up out of the blue and asked the question. The girl is acquaintance of Elise’s, certainly, but one so distant that Elise is not entirely sure of her name. “I have no idea what you are talking about?”
The girl (Sheri? Charlese? Cherri?) frowns, then suddenly looks contrite. “Uh, oh. Maybe this was a surprise thing.”
“Talk,” Elise demands in her best mother-questioning-an-errant-child voice
A few moments’ interrogation reveals that it is all Shelly’s idea. Elise cannot help but laugh. Shelly is a heck of a character. Shelly loves throwing parties, lots and lots of parties, and she is known to latch onto any idea for new theme or twist. Apparently, Elise has just become the beneficiary of Shelly’s endless quest for new excuses to host a shindig.
Shelly is throwing a party at her own house, a party in honor of, and for the benefit of, Elise’s store. The theme of the party is simple: each guest is to come wearing several bundled layers of his or her chicest, most over the top clothes. Then, over the duration of the party, the guests will shed several (though according to the rules, never all) of their layers. At the end of the night, guests have to go home wearing only what they have left on. Everything left behind at the house is to be a donation to Elise’s store.
Elise decides that it is time to get in touch with Shelly, let her know that the cat is out of the bag, and insist upon a space in the planning committee. Shelly will not mind the extra hand, and Elise really wants to maximize her exposure and the store’s burgeoning reputation.
Next Week: the party line.
Do you barter with clients? Do you find it difficult to determine whether or not you are participating in a fair trade?
If you’re bartering with BIG clients who are offering you exposure – you may have to drudge through a bit more than what seems reasonable.
People who can offer you exposure can also try to hold that over your head. Don’t forget – exposure is huge. Clients USUALLY know that.
A firm resolve and some negative experience is all I’ve needed to learn what I’m worth.
I’m still new to the game of earning money for freelance work. But, I’ve grown accustomed to bartering services.
I like working for food. I’ve got some great clients who are wonderful to work with, and who often treat me to fabulous meals.
I work for food with them, and that is our agreement. But sometimes it gets tricky. Sometimes I’m not sure if one of us might be giving more than the other. Sometimes I think it would be easier to work for the money because money is so clear-cut.
This is where AWESOME communication skills are required. Accepting someone else’s services as trade for your own can get tricky. You should set a contract as you would for a paying gig and steer clear of taking extra favors from the client.
Set it in stone. Detail what is expected of you and what you will be paid (hamburgers, shoelaces, Rice Krispee treats – whatever).
Be wary of extra favors because your job is to help the client. You can easily get pinned as that kid who expects a free dinner every time he walks in. It causes much un-needed awkwardness and can be a great way if burning bridges.
When working for food — do consider what cuisine it is. I mean you are what you eat, right? So you need to be sure you are associating with clients and companies who share a common vision and will lead you to more prosperous ventures.
If each bite doesn’t advance your career – it ain’t a fair trade!
You might not know, unless you’re a web designer, but there is a war in the web development industry right now. This is a great thing for business owners because prices are all over the board. Due to all the popularity of template based web design companies, the custom design guys are either dropping their prices ridiculously low or ridiculously high to maintain their cash flow.
Some people scoff at template based websites because of a stigma from having what someone else already owns. Yet everyone is driving around in a car that certainly someone else owns of the same exact color, make, model, and even year. ( I could argue the benefits of template based design for days.) However, if you still cannot get over the idea of having a similar website to another company, there is still hope. There are thousands and thousands of different templates and new ones coming out every day.
If you are looking to find templates that are inexpensive, easy to manage, and still look GREAT, I recommend building a website with Homestead.com (affiliated). They even have a free trial where you can build a site and if you decide you like it, you sign up. The whole process took me about 30 minutes when I tried it my first time. For as little as $5 per month you can have a beautiful website up and running today. Anyone could do this, there is no programming knowledge needed.
Now if you are slightly more web savvy head over to OSWD.org for free templates provided by professional designers. OSWD.org is updated often so the choices are almost limitless. For web novices, you will most likely have to hire someone over at Sitepoint.com’s marketplace to setup a hosting account, domain name, customize and upload your OSWD.org template for you. This is still going to be far cheaper then hiring a custom web development firm. (approx. $200)
Moving on up the learning curve you could try something like Joomla, which is an open source and free software that you can plug hundreds of templates into and manage all your content without ever needing to know HTML/CSS/PHP. This is my personal favorite to go with and I’m a professional web designer. I use Joomla for most of my sites, because I can make changes from any computer as the software is all online. I also can throw together an amazingly aesthetic site, full of brilliant functions in just 2-3 days.
With Joomla you can also download extensions and make your site do really complicated things. For example, adding on a forum, online store, or classifieds section. I mentioned Joomla last because it has an intimidating installation process to get it running. Although it is well documented all over the web and many forums to get questions answered. If you really are just to overwhelmed, head over to JoomlaExchange.co.uk and just about any site listed will handle Joomla installs and consultations for $45-$75 per site.
If you do persevere and learn the initial semi-complicated installation process, you’ll be whipping out attractive, fully functional websites faster then any custom web designer could ever hope for. Hey, maybe you can even start charging $45-$75 per install and consultation! 
All the options I have talked about today can be set up and run for less then $100, while still looking like you paid a couple grand. Congratulations, you just saved about $1900 on your next web presence.
For entrepreneurs, marketing your business or services is very much dependent on you. You drive the business; you create the ideas and you put your plans into action. Most likely you will be wearing several hats simultaneously to make this happen.
If you were to nominate a celebrity/personality to be the face of your business who would it be? Unknowingly I’ll think you’ll find you are already it. Without officially employing yourself as ambassador, you will, to all who come into contact with you, already be the face of your product/service/business. It is therefore, imperative that you look the part.
The world in which we live in is very much based on aesthetics. When you walk into a meeting, answer the phone or set up a website, people will be looking at you. And remember you only have one chance to make a first impression.
Your appearance dictates your businesses philosophy, work ethic and service quality.
If you are a high end niche business you must turn up to a meeting with potential clients in immaculately cut clothing that reflects an understated quality. Your business cards and stationary must also reflect this ‘quality philosophy’.
Your appearance will automatically instill trust or on the flip side, mistrust in a potential client.
Put yourself in their shoes. If you are going to pay top dollar for a high-end service and the head of that company arrived to a meeting, bidding for your patronage, in board shorts and flip flops you are going to start to wonder if in fact this person has any idea what quality and style are about. Or if they have any respect for you as a potential client.
You might argue that many millionaires dress down. And it’s true. I know one millionaire who only wears board shorts, flip flops and a bum bag. You know why? Because he can. These self made millionaires have already made it. People are well aware of their seamless track record and would gladly jump on their success band wagon. Saying that, there will be times when even he will suit-up for an investors meeting.
Your personal style has nothing to do with your business style. Hopefully as an entrepreneur you have created a business on your strengths so the style of your work should already reflect your life philosophy but think of your clothing and accessories as a uniform.
If you could dictate what your staff would wear what would it be? And are you following your own guidelines?
NO! Did that hurt you too bad? Well apparently it must hurt a lot of people because there are individuals out there who have never taken drastic steps or made progress in their life due to the fear of hearing this one little word “no.”
That’s right; the fear of rejection can be a beast to overcome. It has been proven by psychological studies that saying or even worse being told no is a major factor to a human being personal self-esteem.
This is why sales trainers usually will tell rookie sales professionals to always try to build as much rapport as humanly possible with a prospect, because people have an extremely hard time saying no to somebody that they like, know personally, or feel is their friend. It’s almost like people feel obligated to avoid telling another person no. Pretty strange huh, yea I thought so too.
However it is true, no really carries a lot of weight within our society; many take the word as a pure sign of rejection, defeat, or even dislike. The fear of no is what keeps guys from approaching that hot girl across the dance floor at a nightclub.
The fear of hearing no is what keeps people from applying for a top tier university or high level professional job. Of course all of us here know that the fear of hearing no has absolutely killed many aspiring entrepreneurs’ goals and visions for success with a business venture.
It is of the utmost importance that you, being a progressive entrepreneur always avoid fear. Especially in the beginning stages of creating a venture, every little task seems like such a big giant or obstacle that is close to impossible to overcome.
However you must be resilient and possess absolutely no fear or at least as little fear as possible.
Don’t be a “brake driving” entrepreneur going through life at half speed and then looking back at the end of the race track and saying, “I wonder just how fast that car would have went if I had put the petal to the metal all the way full throttle?”
This is the worst place to be in life as a creative and risk taking professional. The stage of question after it is too late, the stage where you contemplate and say, “Would have, could have, should have.”
“No” is nothing more than a two letter word and fear is basically just a mental state of mind. Disregard both and strive continuously towards your goals.
I would be stating a complete lie if I told you that you won’t face rejection on your way to greatness; in fact, rejection comes almost daily, but this is something that most of you are already well aware of.
However a business decision should never be personal (although some are), so you must grow an extra layer of skin in this chosen life called entrepreneurship and learn to shake it off and move on to the next deal.
Just remember the old sales notion that say, “Every no brings you that much closer to a YES!”
When marketing your product, service or website the ‘fun factor’ has become an integral part of standing out in an overcrowded market. Kooky web banners, weird and wonderful commercials and even Youtube segments are making brands stand out from the crowd.
So how can you use the ‘fun factor’ in your marketing?
Graphics have become very popular with internet use and marketing. One way to get people talking about your site is to include a kooky graphic. Skype for example has the funniest dancing man you can put into your IM. It has become a talking point for all of my friends worldwide.
I actually got caught yesterday too, with a funny web banner. Ordinarily I hate web banners and rarely take any notice yet this one was so funny. It had an eyeball character and you could tickle him. Every time you moved the cursor over the character, the cursor became a feather duster and tickled him. Then he would giggle every time you did it.
I would add the link however, it has already been replaced which brings up another good point. In order for word to spread you need to be consistent. Even if the advertiser had left this specific banner up for one more day, it would have got a lot more hits and hopefully created more word-of-mouth buzz.
But the ‘fun factor’ doesn’t have to be something you pay for.
Adding something slightly off the wall can get people talking about you. A great example I have seen has been a ‘take me out to lunch’ campaign. One particular business person was always inundated with requests to have his mind picked over lunch. There was no way he could possibly complete every request, nor did he want to he therefore set up a ‘take me out to lunch’ campaign. Where people could buy him a burrito $1 a bottle of water $1.50 and in return he would add their link to their site.
Your imagination is the limit when it comes to the ‘fun factor’.
As competition for services and products continues to grow using the ‘fun factor’ can be a great way to stand out from the crowd.
Down the road when you ask yourself: What did I accomplish in my life?, how will you answer: According to Hawkins, no one remembers the 14 hours at work or the time missed with their kids. What people remember is if they changed the world in a slight way, or if they had a good time in the process, or if they promoted a positive culture.He talks about the balance in his life - about wanting a great product AND a normal life. In a nutshell he says - Hawkins believes that you can do it all and live a normal life!
Please visit the Stanford Technology Venture Program’s Educator’s Corner for more clips.
There is nothing more crucial to successfully bootstrapping your business than free marketing. This is my personal check list for every website I start. Not only will this drive traffic to your businesses web presence, but can also get you a free high ranking Google listing.
From what I hear, having a link to your website on the first page of a Google search is a good thing! To get that result for under $10 month well that’s just phenomenal. This is all done by simply piggy backing on sites that Google already loves.
YouTube.com
Make a 1-2 minute commercial for your service/product. People will bump into it here and there plus you can use it later for your website to have a rich media experience for your visitors.
Gcast.com
Make a free podcast about your service/product. Talk about features, benefits, how to use it, and have customers talk about how much they like it also.
Myspace.com
Create a business profile and interact with people. This is particularly great if you are in the retail industry. There are thousands of niche groups on Myspace find the one for your industry and introduce yourself.
Article Marketing:
This is where you can get your really high Google listings if done right. Write a 300-500 word article selling your service/product and make sure to use the right keywords. There are tons of sources out there that can teach you how to find and exploit the right keywords. That would be a whole other article itself. Basically, you just stick your keyword/phrase in the article title and throw it in the body of the article about 4-5 times also. Make sure to include a link to your site/s in the “about the author” box.
Isnare.com (Paid bonus features)
These are the only four article sites you should worry about as Google has an affection for these. The others wouldn’t hurt but also wouldn’t help much either.
Classified Ads:
Use the same concepts as article marketing and you can secure a high listing with these sites as well. The downside is that classified ads generally go away after 30-45 days. Some have a feature where you can pay a small amount of money to have it re-posted over and over again. Well worth it if you can spare the cash.
Backpage.com (Paid bonus features)
UsFreeAds.com (Bonus features for $9/month)
Well there you have it, my personal Internet marketing checklist. If you are not using any of these techniques you could be missing out on 100-1000 free visitors a day to your businesses web presence.
Regular readers of this column are aware that I often allude to my familiarity and facility with the “boring” details of small business. It is true, I feel generally comfortable dealing with strength/weakness analyses, amortization tables, and quarterly tax projections. Even so, I would never open a business without the aid and assistance of an accountant.
The accountant my partner and I hired for my first small business, a retail storefront in Albuquerque, is almost certainly the finest CPA I have ever worked with. Her fees were not the lowest, but she was capable, motivated, and proactive in assisting my small business startup and protecting the business’s assets.
I will admit, with some chagrin, that the method by which we chose her was somewhat rudimentary; I chose her name out of the yellow pages because I liked the layout of her ad. Of course, I was also impressed with her professionalism on the phone and walked away happy from a face to face meeting we set up prior to hiring her, but she was still literally the first CPA in town that we tried.
Nonetheless she had one distinctive feature that cemented my decision to work with her more than anything else could have. One virtue made her stand out so much that I saw no reason to continue shopping around after I discovered her: she was rich. She worked out of a home office in a multi-million dollar house. She did not need to work. She liked to do so, part time, because she enjoyed her job.
I hope, gentle reader, that you see why this one trait should be so important. Wealth, and the daily, personal experience of having, holding, protecting, and expanding it is an invaluable baseline from which to build and maintain the very skills most vital to an accountant. Anyone who can build and hold a fortune is uniquely suited to helping me build and hold my own burgeoning wealth.
Last night a good friend of mine said the following: “Dave, some people may feel that they are entrepreneurs but when they read about people saying that you are either born an entrepreneur or you aren’t, they automatically discount themselves from entrepreneurship and begin to feel that entrepreneurship isn’t for them because they don’t feel that they are natural born leaders; which is something that all entrepreneurs must possess.”
After some debating and discussing this issue with my friend, I started to agree with her that there must be a large population on young entrepreneurs who are stuck in this gray area of not knowing if they are entrepreneurs or not.
Thinking that way caused me to rethink my own perception of entrepreneurship: “you either have it or you don’t.” To a large degree, I am still a proponent of that – possibly overly pragmatic – school of thought.
But I can’t help but begin to consider the “potential” entrepreneurs out there who may have what it takes to become a great leader and to become a great entrepreneur, but simply don’t have the courage or capability (for whatever reason) to unleash the entrepreneurial spirit within them.
A friend once told me the story about the Frog and the Scorpion. There was a forest fire and the only chance of survival for the frog and scorpion was to swim across the river to safety. Obviously the scorpion couldn’t swim, but the frog could.
The Scorpion stated: “Listen Frog, let me ride on your back across the river so we can both survive.”
Frog replied: “No, you’ll sting me and I’ll die.”
Scorpion: “Why would I do that, we’d both die. I can’t swim, remember…”
Frog: “Hmm… ok, as long as you promise.”
Scorpion: “I promise, now let’s go.”
Can you guess what happened next? Halfway across the river the scorpion stings the Frog.
To which the Frog responded: “Why did you do that? Now we’re both going to die.”
Scorpion: “I did it because that’s just what I do.”
That’s how I’ve always thought about entrepreneurship: we are who we are in life and if we’re natural born leaders, we’ll go onto lead and potentially become great entrepreneurs. If we’re not, then we just won’t.
But that begs the question: If leadership can potentially be cultivated within someone and if leadership is the number one prerequisite to entrepreneurship, then logically speaking… you can will yourself to become an entrepreneur.
And therein lies the grayscale of entrepreneurship. The area where people may not have been born natural leaders; they may have been shy, not sociable, “nerdy,” reclusive, etc… but have the potential to become great entrepreneurs once they allow themselves to. Once they believe that they can and will.
The more and more I think about this theory, the more it becomes clear to me that there are in fact many people who fall into this category. People who are stuck in that entrepreneurial limbo or possible don’t even know that they are in that gray area – just waiting for someone to push them in the right direction.
Think about the typical situation of the shy and reclusive, but very intelligent student who sits at home all day working on next big website that goes onto change the world. Now this kid wasn’t a natural born leader; he was picked on in school; ostracized from society because he was “weird,” and now here he is, 10 years later, running one of the most successful websites in the country and is looked up to by thousands of other entrepreneurs.
So ask yourself:
Mantra for the day: Who’s the boss? I’m the boss. Who’s the boss? I’m the boss. Who’s the boss? I’m the boss. I’m the boss. I’m the BOSS!!!
Maybe you need to say this to yourself in the mirror, sing it in the shower, or write it one hundred times on your proverbial chalk board – whatever works. But you need to get it into your head and you need to believe it.
Your business exists because of you and you hold the controls for change and progress. Take the opinions of others, yes – but watch out for employees, interns, freelancers and even writers who try to cross your line of tolerance.
Being the boss, I think often means setting aside personal pet peeves and doing what is right for the business. Keeping a team of happy campers is really important. So I’ve gotten to know many of my team members pretty well.
It helps to have a human understanding that sometimes people have a bad hair day – so to speak. Sometimes meetings cannot be made. Sometimes family responsibilities outweigh work responsibilities. And all things considered – I can be a very accommodating boss.
Being the boss also means having to make tough decisions for the sake of the company.
And if you are going to make these decisions and have a team of people who act on your decisions – you need to set unbreakable standards of business etiquette. Stuff that really works for you and your company, of course.
You need to learn to put your foot down without stepping on ANYONE. And you need to do that right away.
If an employee comes to you with a comment that you feel is out of bounds – do not ignore it. For example: if Dude says — hey boss, just wanted to let you know that I think you made a really dumb decision in partnering with X Company on that project. Oh and you should make me employee of the month too, because I’m cool– Please kindly and bluntly tell Dude that this is your company and you make the decisions.
If Dude’s comment makes sense, but you feel that he should’ve been less forceful with you – kindly and bluntly require that he respect your position and let him know how you need suggestions given to you.
Claiming your authority in a peaceful manner may be all you need to do with this guy. Letting him know that you can exercise your bossness when necessary should be enough to put him in his place.
People like to try to take advantage of me. This is because I am kind and genuinely care about them – and this can come off as passive. Some of the people who work for me are very aggressive. I chose them deliberately. I know that I may run into situations where they attempt to get away with more than they should.
I used to be passive aggressive. I used to try and get my point across by saying things between my words. But I got tired. And that never helped anything anyway.
Look Dude in the eye when you speak to him – always. Or if on the phone always speak clearly and with conviction. Ask him a validating question like, do you understand? Or some version of… are you going to do it (this) way next time? You want a yes or no answer.
Do not ask him: Does this sound fair to you? Or can you understand where I’m coming from, and why I need to use my authority with you? Believe it or not – people have used these phrases with me. You don’t want the dude to follow your instructions because he feels sorry for you. And you don’t want him to think there’s an alternative to your decision.
You can, if you like, set your standards with company rules. Many people do it, and it works for them. And yours can be short and sweet.
I keep a private blog with my writers. I’ve set rigid rules for submission guidelines and deadlines. I make announcements about changes and upcoming events and progress of the magazine on the blog, as well.
Writers are allowed to ask questions and communicate with each other on the blog.
When problems with authority have occurred – I addressed them immediately, privately and calmly.
I’m able to keep healthy working relations with my team because I truly respect all of them. You’ll need to cut business ties if you lose respect for a team member.
I know you’re not only the boss right? You’re not only the Start-Up founder, but you are also the Public Relations Guru, Secretary, Driver and Janitor. I know how it is – you do so much yourself that you’re just glad to get help.
Being able to hire one employee or freelancer is a sign that more are on the way. Be honest and clear about your mission for them upfront, and your standards will be hard to break.
In the business community when people think of successful entrepreneurs they sometimes automatically start to mentally picture a person who sets out on their own and creates some venture from an idea that he or she previously had.
However there are other aspects of being a successful entrepreneur and one of the main components is learning the art of investing capital and partnering. Successful business people understand that creativity and great ideas come from many different areas and are created by a wide variety of people.
Sometimes we get so caught up on trying to come up with the next great idea that we forget that many times others have already created a great concept, but they need help taking their idea further into full fruition.
This situation offers a great potential opportunity for the savvy individual to look into investment and partnering agreements in order to receive a certain percentage of profits and a share of the business’s ownership stakes.
Investing in other businesses allows an entrepreneur to avoid many operational responsibilities and start-up headaches because many times depending upon the guidelines of the investor’s contract, just putting up a percentage of the capital is your only requirement.
However if having creative control or rights to give input are important aspects to you, then you may be able to place these stipulations in the contractual agreement. For the most part though, investors enjoy having ownership stakes in a business without having to worry about typical management requirements that come with owning a venture, this is one of the major perks!
Investing in other businesses usually is viewed as a project for an experienced entrepreneur for the most part simply because a lot of reasoning and valuation must go into the action to help alleviate as much possible risk and also because aspiring entrepreneurs usually won’t have access to large amounts of up front capital.
However while the majority of business investors (sometimes referred to as angel investors or on a larger corporate scale venture capitalist) usually are multi-venturing entrepreneurs looking for ways to leverage their assets and gain profits from business performance without sacrificing time, some individuals have hit a homerun by stepping into the investment arena without any prior business ownership experience.
Also some first time entrepreneurs lacking up-front investment capital have taken out loans from lending institutions, leveraged their capital into a business investment and made large sums of cash flow and ultimately great profits.
Whatever you decide when traveling down the road of business investing be sure to perform the required due diligence. Investigate the venture, the business plan, the market, the competitor’s, the percentage amounts, how the deal is structured and along with many other aspects of course you must review and be certain you can trust the owners/partners that you plan on investing with.
A project of this magnitude also requires a strong supporting team around you like a good lawyer, C.P.A. and possibly even a trusted banker. This is why a deal like this is usually for veterans and well established entrepreneurs however don’t be opposed to dabbling a little.
What I mean by this is to start out small, maybe start to look for possible investments with friends and family or business contacts within your community that you already know and can trust.
You don’t have to invest millions or even thousands of dollars; you may find people who are willing to allow you to be responsible for very minimal investments or purchases in regards to their venture which will be a good place for you to start.
While these smaller investments will most likely create fewer results they will allow you to learn the art of deal making and to gain valuable experience for your future entrepreneurial investments.
Imagine as a bootstrapper, there was a place you could go and speak with a lawyer for patent advice or partnership contracts. What if this place also had experienced CEO’s you could go and chat with about writing a business plan, raising capital, and operations management. Imagine this place had a library of business books, pre-written business plans, computers w/Internet access, laser copy machines, and all the latest business related software for your convenience.
Now let’s top this dream off; let’s give this place a friendly accountant that you can converse regularly with about financial analysis, cash flow statements, and tax deductions. Oh yeah…I almost forgot, we need to make this place free to the public!
Sure would be nice to have a place like this nearby, for all of us out there bootstrapping our businesses. Ok enough of the song and dance, this place is real and I personally go there once a week! It’s called your local S.C.O.R.E chapter. If you know about it then you are one of the lucky ones. However, there are thousands of young entrepreneurs out there who have never even heard of the SCORE organization. The secret can be kept no longer!
SCORE stands for Senior Citizens Organization of Retired Executives. They are a resource partner with the U.S. Small Business Administration. This is one of the greatest finds I have come across as a small business owner. It took me weeks to get over that all of their services were free! I could not believe the amount of resources made available. How it works is you go to the main website www.SCORE.org which itself has many, many valuable tools, articles, and resource links. Then you search for a chapter near you by city or zip code.
Once you have found your local SCORE chapter, you fill out some forms, (so they can get credit from the SBA) and then they call you up a few days later to set up your first appointment.
Now when I say free, I am only telling a half-truth… Whoa, whoa, whoa, get back here! In order to speak with the professionals one-on-one they first want you to attend one of their 3 hour seminars. The seminar is only $25 and covers business basics like, writing a business plan, what are the different business structures, where to get funding, and how to set up your finances.
They fit an awful lot in that 3 hour seminar so bring a notebook. This seminar is required by the coaches to make sure you at least have a working knowledge of the basics. After the seminar you schedule your first one-on-one session with a CEO, lawyer, accountant, or marketing executive. They assign you the person who can best coach you on your current goals. I know, you are probably still in shock, but its true these guys are out there and they really know their stuff. So get to their website, find a local chapter, fill out the form, and get ready for success!
What’s a Wantapreneur? That’s simple: it’s a person who wants to be an entrepreneur. Someone who thinks about starting a company, but never does; someone who thinks about marketing their business, but never does; someone who thinks about selling their car to invest in a startup, but never does.
Wantapreneurs are all over the place; they have big dreams and high hopes, but never take any action. The main difference – actually, the only difference – between an entrepreneur and a wantapreneur is: Action.
Rachel, from the movie Batman Begins, said it best: “It’s not who we are inside, but our actions that define us in life.” I’ll always remember that saying because it’s so true.
Like I’ve always said, entrepreneurship is a mindset, and if you feel deep down that entrepreneurship is inside you but you feel that your current circumstances have trapped you into just “wanting” and “hoping” (re: wantapreneur), then you should be doing everything in your power to breakout of those restraints.
Life is too short to sit on the sidelines and watch the world pass you by. Make the transition from the wantapreneur to the entrepreneur NOW, before you wakeup in your bed 20 years later and say: “Damn, I wish that I was 20 again… why didn’t I take action then?”
Sure, it’s not easy being an entrepreneur. It’s a life of ups and downs riddled with plenty of stress and plenty of happiness. But if you make the conscious decision to bust your ass now – while you’re young – then 20 years down the line you’ll wakeup and say: “Wow, look at the empire I’ve created. Look at the changes that I have made. I’ve done something great – something that I will always be proud of.”
When faced with the challenge of supporting ourselves financially it can become easy to neglect the support of our fellow entrepreneurs.
We’ve got to cut corners whenever possible. So we might sell our car, settle for a cheaper apartment, and skip the daily latte. Quite frankly – maybe we just can’t afford the independent book store, coffee shop, or graphic designer.
But we still need tons of stuff. We need groceries, clothing… office supplies. We need entertainment. Information. Our age group holds the world’s largest number of consumers.
Everyone markets to us!
With expense cutting in mind — we young entrepreneurial consumers may decide that dining on Ramen noodles from Wal-Mart, (or some other discount food from a discount chain) is an acceptable option that keeps us satisfyingly in the black. After all, we’ve got a business to Start, and we need to give it time to grow before we can splurge on eccentricities, right?
Well, I came across three smart business women who might disagree. In fact, their examples show us how to begin supporting each other, and in turn – they’ve gained my support. I think they’re genius.
Anna Lappe and her partner Bryant Terry recently released Grub: ideas for an Urban Organic Kitchen — a cookbook with a movement attached. The Brooklyn-based team teaches the reader about sustainable food and encourages us to buy locally and from Farmers Markets.
Lappe and Terry have taken their concept to the streets, or should I say gardens of America. They’re touring and enlightening people like us on the health importance of organics and locally grown food choices, and the politics behind theses choices.
Grub gives you a bit of an idea about where your money REALLY goes when you decide to shop big-box retailers. It suggests the old get what you pay for theory. Did you realize that spending less at some cheap-o-rama superstore may lead you to paying higher cost for taxes and other items?
It’ll make you think. It’ll make you hungry.
Michelle Garcia’s Bleeding Heart Bakery offers a breath of fresh organic air to Chicago’s Wicker Park/ Bucktown neighborhood. Michelle swears by sustainability and buys all of her produce from Illinois farmers.
When I took my first bite of the vegan lemon bar – I think a tear came to my eye (really). Sure it was tasty and rich as ever – but there’s real satisfaction in knowing that you’re not swallowing 12 different chemicals, or supporting the already rich folks who’ve stopped caring about quality.
Bleeding Heart’s prices can be a tad higher than other local bakeries – but the benefits of supporting entrepreneurs like Michelle and area farmers, as well as contributing to the conservation of fuel (needed to transport produce from other states and countries) makes it worthwhile for me.
The food and display in this place is amazing. Stop by if you’re ever in Chicago. You can even learn more about sustainability and Michelle’s mission through her convenient framed info sheets.
Christina Carano created Holy Cacao! just over a year ago. It’s a line of pure organic chocolate sold in raw form for baking or medicinal purposes. That’s right, Christina suggests ways in which pure chocolate or cacao can cure common ailments and prevent others.
The Los Angeles based 26 year old entrepreneur is now slated to open her first physical shop. Planet Earth Eco Café will serve up vegan, vegetarian and creative raw treats at moderate costs. Her passion for food and art has inspired her to teach through feeding her audience.
Planet Earth’s products are fair trade and local whenever possible. This has undoubtedly added to the struggle of Christina’s start up. But now she’s here – (and I hope) to stay.
Young entrepreneurs around the globe are making their mark. Those of us who try to do the honorable thing or the smart thing for the bigger picture or the common good, often get swallowed up by larger companies who can afford to offer services at lower prices.
But, maybe if we follow the example of these three successful women – we can start to afford to support each other.
Then, we will learn that we will grow exponentially by supporting others like us.
Networking was something I always loathed. To me it always had a very negative connotation – “I’m only going to talk to the people in the room who can do something for me”. I hated it.
The people that ‘networked’ in my industry were the over-the-shoulder talkers. You know the ones who talk to you, constantly looking over your shoulder to see if there is someone more important they should ditch you for. Boring!
Then I moved to New York where networking is as much a daily part of life as subway delays and bad coffee. People here seem genuinely interested to help you out; at least that’s what I’ve found. New York is the business card-sway capital of the world! Everybody knows somebody that could potentially help you out.
However, for me I don’t care who a person is if they are an idiot, bigot and/or moron I’m not going to have a bar of them regardless of their current position of power and I must say it has never been detrimental to my success.
Talking to people that inspire me, that are generally good at what they do, has always attracted me far more than positions of power. If you make a connection on a level other than ‘what can you do for me’ you will sustain many more long lasting relationships.
Look for quality, not necessarily position when networking.
Remember all it takes is for one corporate shake up and all that brown nosing you’ve done to the Vice President, all the shit you’ve taken, the insults you’ve let pass are obsolete. Those left have seen your lack of integrity and won’t have a bar of you.
Don’t disregard anyone, ever. The amount of times I have seen someone cut off a conversation when they have found out the person they are talking to is the wife of someone important, is ridiculous. Not only is it pathetic as a human being but as a business person it can be suicide. If you find someone with whom you connect, regardless of position, make a connection.
Many times people have talked to me and we’ve become friends. Now they never knew what I could do for them. I never offered but let me tell you when an opportunity comes up I will push their products anyway I can because of our friendship.
On the flip side, stay away from hustlers and trouble makers in business. The last thing you want is to be judged guilty of business misconduct through association.
So the moral of the story is network, network, network! I am a reformed networker and now know when done properly it can be one of the most useful tools you’ll ever have.
Entrepreneurship is a means to an end, it is not an end in itself. It is important to follow the product–can I work where I am right now, or do I need to start something? The passion is with the product, and you follow it through.
Please visit the Stanford Technology Venture Program’s Educator’s Corner for more clips.
Stress and conflict often are two situations that entrepreneurs gradually become accustomed to over the course of their careers.
In fact the most successful entrepreneurs absolutely thrive in these atmospheres and enjoy the rush and challenge of scrambling to get things done or meeting deadlines. However if you are not a person who is use to thriving in intense places it could be much more difficult to initially adjust to this new found aspect of business “ad-venturing.”
It is very important for any business professional to consistently find alternative methods of releasing stress from the workplace or your venture. Find a hobby that you enjoy that will replace your thoughts and intent momentarily so that you can allow your body and mind proper amounts of time to vent.
Usually activities such as exercise, book reading or even some good old fashion Playstation or XBOX (Okay not so OLD fashion) will allow you to have fun away from business.
Also you may find that some of your best ideas will strike you when you are relaxed and engaging in an activity away form work-related events. For instance I enjoy lifting weights and I will sometimes come up with some great supporting concepts for my ventures and entrepreneurial pursuits while pumping iron.
Stress is going to come during venture building, but please don’t let this steer you away from pursuing your dreams. If you think stress really isn’t a huge problem within the professional world then you are extremely wrong.
Many small business owners report closing their doors because they cannot handle the pressure that business sometimes brings. Just yesterday I was listening in on an interesting conversation between one of my finance professors and a fellow student before class started.
The young lady was explaining to my professor that she recently closed her business which was supposedly producing good