As the co-founder and the CEO of the Endeavor company, Linda Rottenberg has served as an inspiration to many. She has made it her life’s mission to provide budding entrepreneursRead More
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]]>As the co-founder and the CEO of the Endeavor company, Linda Rottenberg has served as an inspiration to many. She has made it her life’s mission to provide budding entrepreneurs with the help that they need to turn their bright ideas into decisive action. Even if the person does not have a great deal of experience or a concept that seems outrageous, Rottenberg still takes the time to provide aid.
No idea is too crazy or out there for Rottenberg and her work serves as an inspiration to anyone who has been told that they cannot achieve their goals. After taking a dive into her book, Crazy Is A Compliment, these are the top five lessons I believe that every entrepreneur can learn from the works of Linda Rottenberg.
Whenever a would be entrepreneur comes up with a brand new idea, they are usually called crazy by people who cannot take the time to think outside of the box and see their vision. Rottenberg believes that anyone who is going to try something new and seemingly insane will experience blow back from a variety of sources. She is quick to tell her acolytes about the problems Henry Ford experienced on his way to the top and how Sam Walton’s Wal-Mart idea was considered crazy at the time.
It is important for an entrepreneur to realize that there are no physical barriers standing between them and success, their obstacles are purely psychological. One of the most enduring mottos that she shares in her work is that “crazy is a compliment.”
While most people see entrepreneurs as being wacky and adventurous types, Rottenberg is quick to tell her audiences that this perception does not always match up with reality. She is quick to speak about the importance of taking risks that may seem crazy to the outside observers, but are actually calculated in nature. A common piece of advice that she gives is to keep your day job while you are trying to get your business off of the ground.
Rottenberg speaks about how crucial it is not to bet the entire farm on one idea. Craziness and the ability to stomach risk taking are great qualities to have, but only when they are properly utilized. Even some of the biggest names in the world of entrepreneurs hedged their bets. Phil Knight worked as a tax preparation expert before Nike took off and even Richard Branson (who is seen as being wacky and nuts) talks about containing the potential for disaster. Rottenberg makes sure that these parts of the story are not left out.
Rottenberg takes great pains to dissociate people from the common mental image of the disheveled, rumpled entrepreneur who drapes themselves in old hooded sweatshirts, telling stories of women who launched successful enterprises in the comfort of their own kitchens at home. Despite what you may think, you do not need to be a young male clad in a sweatshirt in order to meet the stereotype of what an entrepreneur should look like.
Young males are no longer the predominant group of budding entrepreneurs. Statistics now show that an entrepreneur is just as likely to be an older male (over the age of 55) or a female. With more and more Americans being forced to work for themselves during this turbulent economic times, it is crucial to get with the current program or end up being left behind.
Many startups employ family members, not because they are the most qualified for the position, but because they have the time on their hands and are able to work for little to no money. That is why a startup prenuptial agreement is necessary. As your company grows, you may need to replace some of these beloved family members with people who have more experience in the particular areas of expertise that you require.
When you start your business, Rottenberg preaches the importance of coming up with a formal partnership agreement and having it in writing. The vision that you and your family members start off sharing for the company can change and in many instances, a family member may even want out, but be too timid to speak up. Avoid these circumstances by spelling out exactly what you expect from your employees and/or partners during the early stages.
Rottenberg often talks about her past as an extreme workaholic and attempts to teach her audiences about the importance of work/life balance. When you are a workaholic, not only is it difficult for you to maintain a normal lifestyle, but it can also be difficult to retain talented employees. Make sure that you get a life and encourage anyone who works alongside of you to do the same. After all, what good is success if you don’t take a moment to enjoy it?
The idea that you have to ignore your family or put the people you love on the back burner is a foreign concept to Rottenberg and she often speaks about the surprise in people’s voices when she mentions her daughter’s dance recitals or other family events. In order to be successful, your personal life does not have to fall by the wayside, a lesson that Rottenberg goes out of her way to preach.
Preview Crazy Is A Compliment with Linda Rottenberg herself
Buy Crazy Is A Compliment by Linda Rottenberg on Amazon today
Visit LindaRottenberg.com to learn more about Linda and her work
Visit Endeavor.org to learn more about Linda’s company
Follow Linda Rottenberg on Twitter and Facebook
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]]>Carol Sanford has risen to prominence as a consultant in the world of business development and is also well known for speaking to potential business owners in a number ofRead More
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]]>Carol Sanford has risen to prominence as a consultant in the world of business development and is also well known for speaking to potential business owners in a number of different settings. She has authored a book, The Responsible Entrepreneur, where she discusses the importance of responsibility and accountability in the entrepreneurial field and her insights continue to be shared in the business community time after time.
“Entrepreneurism isn’t born within a rare few; it’s a fire waiting to be lit inside us.” – Carol Sanford (highlight to share)
There are a number of lessons that every entrepreneur can learn from Carol Sanford and the following list focuses on the five that I find to be the most crucial for you to learn more about how you can emulate Sanford’s tactics.
An entrepreneur does not fail or succeed based exclusively on his or her own merits, a lesson that Sanford teaches in all of her works. Success is achieved within a team context, while failures are typically achieved alone. The entrepreneur who tries to do it all by themselves or ignore the needs of those underneath is setting themselves up for continued disappointment.
One of the most common pitfalls that a budding entrepreneur falls victim to is the perception that they need to take on each of the most important tasks by themselves and minimize the amount of help they need from partners and staff members. However, a truly successful entrepreneur knows how to hold themselves accountable and delegate duties to those who are more talented than themselves. No one ever rises to the top alone, but there are certainly more than a few would-be entrepreneurs who have sunk to the bottom all by themselves.
Carol Sanford speaks about the importance of self-awareness and talks about what it takes for a person to leave their mark on the world. She communicates her thoughts and ideas about the traits needed for a person to reach their full potential. One of the ideas that she regularly touches on is that a successful person does not take any event that takes place in their life too personally. In order to achieve success, an entrepreneur must be able to look at the bigger picture.
Instead of allowing the outcome of certain situation to affect how they feel about themselves, Sanford talks about recognizing the impact of their actions and remaining focused on the task at hand. No one rises to the top without experiencing a few setbacks along the way and none of these issues should ever be taken personally. Your higher aim is what matters most.
When Sanford speaks to her audiences, whether in person or through her writings, she consistently focuses on the responsibilities that come with along with responsible entrepreneurial work. No one starts off their entrepreneurial journey knowing it all or being able to predict the future. Problems lie ahead and while there is no way to control them, you can control the manner in which you react to them.
Rather than being waylaid by every single challenge that comes along, Sanford shows her acolytes how to use them as learning experiences, as a method for enriching themselves intellectually. Thanks to her years of experience, she knows about how rewarding it can be to face a challenge head on and learn from it. There is going to be resistance along the way as you climb the ladder to your ultimate goal, so embrace these challenges and use them as a tool for self-improvement.
We often have moments in life where we feel a certain magnetic pull that encourages us to shoot for a certain goal or to pursue a particular endeavor. Carol Sanford encourages her audiences to stop ignoring those feelings and start pursuing the goals that will truly make them happy. When you pursue the goals that are most important to you, your capabilities will be stretched to the limit, which is the best way for a person to shake off their current comfort zone and grow into a successful entrepreneur.
Your capacity to grow is as limitless as your imagination. If you are someone who is constantly doubting themselves and refusing to see the bigger picture, then you are going to struggle to pursue your true calling. We all have that magnetic tug inside of us, that little voice in our heads that encourages us to stop working at jobs that we hate and to go after our dreams. Sanford ensures that her audiences do not continue to ignore that voice.
Another area of emphasis for Sanford is the importance of self-reflection. She urges her audiences and readers to take a moment to really reflect on what is important to them. What is your goal and even more importantly, what are you going to do in order to reach it? Goals are great, but without a definitive plan, a goal is merely a dream.
Until you can look deep within and decide on what your true goal entails and what you are willing to do in order to achieve it, you will remain in your current state. An entrepreneur is someone who is not afraid to challenge themselves and a person who thrives when they are pushed out of their preferred comfort zone. Thanks to Carol Sanford’s lessons, what once seemed like a dream can become a reality, when you are ready, willing and able to put in the work necessary.
Preview The Responsible Entrepreneur with Carol Sanford herself
Buy The Responsible Business by Carol Sanford on Amazon today
Buy The Responsible Entrepreneur by Carol Sanford on Amazon today
Visit CarolSanford.com for the free workbook deal and more info on the book
Follow Carol Sanford on Twitter and Facebook
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]]>The hardest part about beginning a startup company is coming up with an idea that not only fills an important void, but that no one else has already come upRead More
The post 3 Super Solid Ways to Create New Business Ideas appeared first on The Entrepreneurs Library.
]]>The hardest part about beginning a startup company is coming up with an idea that not only fills an important void, but that no one else has already come up with. It is exceedingly likely that the first idea you come up with will not be a success. As such, it is imperative to not let yourself become discouraged by initial disappointments and to keep on pushing.
These popular techniques will go a long way towards helping you create new business ideas:
The entrepreneur who successfully creates a new business and can withstand the test of time is the one who is able to peer into their crystal ball and predict the trends of the future. While this process does require just a smidgen of good luck, a great entrepreneur knows that luck is merely the residue of skill and hard work. Luck does not come to those who park themselves on the couch and wait for it to come along, it happens to those who get up, get out there and work for it.
A top notch idea for a business is one that is ahead of the curve and anticipates changes in the landscape. The person who is monitoring current trends instead of future trends is going to come up with ideas that are instantly outdated. A decent entrepreneur looks at what is going on now and thinks of a way to fit in with the current landscape.
On the other hand, a great entrepreneur thinks about the future and wonders how they can create the next big thing, rather than an inferior knockoff version of the current big thing. Monitoring the current trends in the business world can provide some help when it comes to developing new ideas, but you have to consider the amount of time it takes to start a new business.
An idea that seems fresh in the moment is often past its sell by date when you are finally able to get down to brass tacks and start the process of opening a business. Consider the future and what place your product will hold in that future.
I am willing to bet that there are many things in your everyday life that drive you crazy. One of my personal favorite ways to create new business ideas is by taking the time to consider the things about life that annoy you the most. If you hone in on the things that “piss you off,” you will be able to brainstorm real solutions to everyday problems. If you are are the type of person that feels like you have to “do things on your own,” this task brainstorming technique will come naturally to you. As I’ve come to learn from many authors on innovation, the best entrepreneurs are those who find out about what we lack most and discover a new way to provide the public with the needed item.
Invention is not a must in these scenarios, but it can help you to develop new ideas. Brainstorming about products that every human being would want, but have yet to be created is a great way to amplify the creative process and ensure that you remain ahead of the curve at all times.
Speak to people you know, as well. There are many instances where the things that annoy you and frustrate you will also annoy and frustrate them. Canvasing close friends and family can also provide you with important information about frustrations that they are having that you had failed to consider.
Consult with members of the opposite sex and ask them about their daily frustrations. A company that is able to consider a variety of concerns from various walks of life is one that will prosper in the long term. Having a narrow focus leads to a lack of creativity and should be avoided.
Most people prefer to avoid frustrating moments at all costs, but those who can train their mind to look deeper can find valuable business ideas that no one else has considered.
Just because you cannot create new business idea does not mean that you should give up on your entrepreneurial dreams. Some of the best and brightest entrepreneurs are those who analyzed the current marketplace, discovered inefficiencies that could easily be corrected and decided to do something about it.
This strategy is helpful for entrepreneurs who are struggling to come up with ideas of their own. Perhaps you are someone who enjoys a certain product, but finds it to be overpriced. This is your opportunity to research the product you enjoy and see if any changes can be made during any part of the process that can have a positive effect on the pricing structure.
Or, maybe you can take a closer look at what the major players in your desired niche are doing wrong. A company does not have to be the same size as the big boys to successfully compete with them. The playing field has never been more level and a person can learn a lot from what the major business in their field are doing wrong.
There are typically enough gaps in the industry that you seek to join that can be easily exploited. Perhaps there is a service that a major company should be offering that they have not thought of. By using this as your starting point, you can start a business that already has built in clientele.
Some larger businesses are no longer in the business of innovation, they are more focused on maintaining their current piece of the pie. If so, this also provides an opportunity to come up with an idea that takes a product that is already available to the next level.
The Dream Cafe by Geoff Crook
Seeing What Others Don’t by Gary Klein
The Myths of Creativity by David Burkus
One Simple Idea by Stephen Key
A More Beautiful Question by Warren Berger
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]]>Any entrepreneur worth their salt has dreamed of becoming a public figure. Even considering they are slow to the stage, the majority of entrepreneurs do not wish to toil behindRead More
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]]>Any entrepreneur worth their salt has dreamed of becoming a public figure. Even considering they are slow to the stage, the majority of entrepreneurs do not wish to toil behind the curtains forever. Since the turn of the century, we have been graced with the presence of a variety of entrepreneurs and visionaries that have been able to deliver lasting changes in a wide range of different fields.
From the many well-known authors we have had on The Entrepreneurs Library, I have come to learn that any entrepreneur who is thinking about becoming a public figure will excel quickly by learning from other leaders that have found tremendous amounts of success. Here’s a closer look at the essential steps that many leaders today when they first started becoming a public figure.
Andrew Carnegie is one of the first entrepreneurs that we are taught about. He was not born with a silver spoon in his mouth and grew up in a lower class household. His poverty stricken family left his native Scotland to come to America and raise their quality of life. Carnegie used his impoverished childhood as motivation.
Once Carnegie became wealthy, he was not content to sit on top of his stack of money. He reached out to those who were less fortunate, donating tens of thousands of dollars to fund hospitals and libraries. He was also one of the first entrepreneurs who wrote a book about his success, imparting his secrets to others who were in the same position he used to be in.
Unless you have been living under a rock for the past 20 years, you have heard the name Oprah Winfrey. Oprah is a testament to what you can achieve if you have the willingness to overcome the bad things that have happened in your past and continue to work towards your goals.
Oprah has become an influential public figure because of her eloquence and her ability to speak passionately about the experiences that shaped her. Because of this, people do not see her as a billionaire who is above them, she is seen as a peer, which makes more people want to purchase her products.
No matter who you are or where you are from, you have heard of Steve Jobs. While Jobs may be a polarizing person to many, there is no question that he is an influential public figure. Even in death, his quotes and philosophies are still discussed. The main lesson to be learned from Jobs is to always be yourself.
Jobs has been criticized for his sometimes abrasive approach, but he was able to command respect and become an important public figure because of his honesty and unwavering commitment to his own personal principles.
The Social Network was more than just a movie about the creation of Facebook, it also displayed Mark Zuckerberg‘s best and worst tendencies. While some entrepreneurs would be reticent to allow themselves to be portrayed in an unfavorable light, Zuckerberg gave Hollywood the permission to tell his story, warts and all.
Every entrepreneur is not going to receive the opportunity to tell their story on the big screen. By telling your whole story, you allow your audience to relate to you on a whole new level. It has the effect of humanizing you and showing people that you are far from invincible.
The Huffington Post has become one of the Internet’s most trafficked websites, making a star out of the site’s creator, Ariana Huffington, in the process. Because she provides an important publication service and educates her readers about current business, political and entertainment issues, Ariana Huffington has developed a much higher profile in recent years.
When an entrepreneur provides people with more than a simple product or service, it increases their appetite for knowledge about the person, which eases their transition into a public figure. She has gone from unheralded blogger to the pages of Time magazine, without having to pander to the lowest common denominator.
Martha Stewart is a name known throughout the world and even a prison stint could not deter her businesses. She has been able to endure as a public figure because she has successfully diversified her portfolio. While some may know Stewart from her television persona, others may know her because they purchase her linens or her magazines. Martha even makes appearances on shows like The Apprentice and Comedy Central’s Justin Bieber roast.
Martha’s media presence is varied, which gives her the unique ability to speak to a plethora of different audiences and ensures that her shelf life as a public figure is not artificially shortened. Some entrepreneurs are content to live a low profile life, working in the same field, but to become a public figure, you must be able to reach different segments of the population.
Some may know Mark Cuban as the man who was smart enough to cash out before the tech bubble burst, while others may know him as the outspoken owner of the MBA’s Dallas Mavericks franchise. Mark Cuban is able to remain in the spotlight because of his transparency and ability to tell it like it is.
For instance, Mark was one of the first major entrepreneurs to harness the awesome power of Twitter. His official, verified account now boasts nearly 3 million followers, many of whom do not even follow basketball. He gives his followers valuable insights into the business world and as a result, he has become a beloved public figure.
Top Dog: How To Impress and Influence People Around You by Andy Bounds
Credibility by Jim Kouzes
Powerhouse by Mike Clayton
Pocket Man by Scott Jordan
Charisma on Command by Charlie Houpert
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]]>Who is Bo Burlingham and what you can learn from him: Bo Burlingham is a shining example of what can happen when a person does not take no for anRead More
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]]>Bo Burlingham is a shining example of what can happen when a person does not take no for an answer and simply finds a new way to do their own thing. After years working for Inc during the early 1980s as an executive editor, he resigned that position down to an editor-at-large in order to pursue his own interests.
From there, he wrote many successful books about life in the modern business world, giving out helpful tips to all of his readers about how employees can own their own companies. There is a great deal that an entrepreneur can learn from Bo Burlingham, so let’s focus on the five most crucial lessons.
It would have been easy for Bo to get comfortable and settle down at Inc. After rising to the position of Senior Editor, Burlingham could have allowed himself to become satisfied. Most people would have been fine with remaining in that position and thinking of ways to advance the company that gave them the job.
It takes a lot of hard work and dedication to make it to any sort of senior editing position at a major publication. Most would not have wanted to see all of that effort potentially go to waste while they take the time to chase after a dream.
However, Bo Burlingham is not most people. Instead of settling in, getting comfortable and allowing himself to fall into complacency, Burlingham decided to strike out on his own path, leaving Inc to publish his own books. Had he not had the courage to do this, he never would have had the time to write The Great Game Of Business, a book that has sold hundreds of thousands of copies.
Burlingham wrote a book entitled Small Giants. In this book, he does a deep dive into what makes small businesses successful. One of the main reasons he discovered? Smaller companies are more able to train their focus on being the absolute best at what they do. Whereas larger companies may find that it is more important to be everything to everyone, a smaller company spends their resources on performing one particular task.
By specializing, smaller companies are able to stand shoulder to shoulder with their larger counterparts and experience many of the same benefits. People are not looking to make purchases from the largest company possible. The consumer is all about finding the best quality at the most affordable price. The company that provides a top notch service and does not allow themselves to be hemmed in by traditional success definition is the one that will prosper over the long haul.
Small Giants delved into a variety of smaller companies, with the objective of showing readers how all of these companies were able to become so successful, so quickly. Whether it is a record company, a deli or a microbrewery, there are a variety of principles that define prosperous small businesses.
Even a tiny company can go about the same tasks as a corporate giant and experience continued success. While these tasks take place on a smaller scale, a company still must raise the necessary capital, invest the funds wisely and choose the right times to expand their operations or make pivotal acquisitions.
One of the most pivotal that an entrepreneur can take from the works of Bo Burlingham is that it does not matter how big or small a company is. The route to success is the same as it would be for a large company. Small business owners are encouraged to take the lessons that have worked for big companies and apply them to their own situation.
A common mistake made by entrepreneurs is that they do not trust their employees to get the job done. In Burlingham’s book, The Great Game of Business, he outlines the benefits of an open book management style. He did not come up with these strategies in a Fortune 500 boardroom or at a high end business meeting.
Instead, Burlingham investigated the plight of a company known as International Harvester. When all of the employees of this heartland factory stood to lose their jobs forever, they banded together and came up with a solution: the open book management style.
When employees feel like they are truly an integral part of the equation, their performance becomes much better. Burlingham has preached the importance of allowing your employees to know about how the company is functioning as a whole. This keeps them from being taken by surprise when certain events occur.
When Burlingham came together with Norm Brodsky to write Street Smarts, he did so with one goal in mind: showing people that there is no magic list of bullet points that an entrepreneur can hit that will guarantee their long term success. He preaches the importance of your overall mentality when trying to start a new business and displays the importance of street smarts.
Being book smart is not enough. An entrepreneur needs to know how to read people and judge a situation that may not come with a helpful handbook. Burlingham also teaches his readers that there will be mistakes made along the way and that these mistakes do not have to come to define you. It is how you rebound from these errors that determines your level of success.
Preview Finish Big with Bo Burlingham himself
Buy Finish Big by Bo Burlingham on Amazon today
Visit BoBurlingham.com to learn more about Bo and his books
Visit SmallGiantsBook.com to learn more about Small Giants
Visit TheKnack.info to learn more about Street Smarts
Visit EvolveUSA.org to learn how Evolve is using Finish Big to build its organization
Follow Bo Burlingham on Facebook and Twitter
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]]>A Quick Look at 5 of the Latest Books for Entrepreneurs The Entrepreneurs Library presents some of the latest books for entrepreneurs in May 2015. These books are brand newRead More
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]]>The Entrepreneurs Library presents some of the latest books for entrepreneurs in May 2015. These books are brand new to the market and the authors are in line to give a thorough deep dive of their books. Stay tuned this month for the release of the interviews with these great books and their authors. Below is an overview of what Amazon has to say about these books:
You don’t need social media, but you can be connecting with your clients socially. Your video doesn’t have to be viral in front of a million people, just contagious in front of your specific market. Content, connection, engagement. It’s time to separate from the pack of noise.
UnSelling is about everything but the sell. We put all of our focus on the individual purchase transaction, while putting the rest of our business actions second. We’ve become blind to customer service, support, branding, experiences and even product quality.
In this book Scott Stratten teaches sales companies how to see the big picture in order to:
After reading UnSelling, there will be no doubt in your mind that it’s true. Up to 60 percent of all purchases are made before the sales pitch even begins, yet we still focus on the sales funnel above all else. UnSelling is about removing this “funnel vision,” reaching out to clients in a meaningful way, and becoming the go-to brand. The sales figures will follow.
Learn more about Scott Stratten | Buy Unselling on Amazon
Now newly updated to celebrate 10 years since its first publication and including up-to-date case studies and examples, as well brand new exercises to test yourself, S.U.M.O: 10th Anniversary Edition will help SUMO fans, as well as SUMO amateurs, get more out of this bestselling, self-help classic.
Weighing in with humor, insight, practical tips, and personal anecdotes, it’s a thought provoking and possibly life-changing read. In this special 10th anniversary edition, including fresh stories and updates throughout, Paul McGee’s bestselling book will show you how to:
Learn more about Paul McGee | Buy S.U.M.O. on Amazon
In one evening you can know more about how much money you need to retire than your financial adviser. This book is a practical, no-nonsense guide complete with a step-by-step plan that tells you how much money you need to retire with confidence.
The conventional approach used by experts to determine how much money you need to retire is fundamentally flawed. The worst part is you won’t even know it until it’s too late. This book takes you behind the scientific facade of modern retirement planning to reveal:
Learn more about Todd Tresidder | Buy How Much Money Do I Need to Retire? on Amazon
With Cultural Intelligence, or CQ, you can lead effectively in any context. Now fully updated, the second edition of Leading with Cultural Intelligence features brand new research, case studies, and statistics on the ROI of improving your CQ, as well as fresh examples from Google, IBM, Facebook, and other organizations. Practical and insightful, the book presents a powerful, four-part model for becoming more adept at managing across cultures:
With Leading with Cultural Intelligence as your guide, you’ll be able to thrive in any business environment – whether it’s across the world or in your own backyard.
“As more companies go global, we need a better understanding of how to function as leaders across cultural boundaries. Now more than ever, our shrinking world needs what’s in David Livermore’s new book!” — Ken Blanchard, Coauthor, The One Minute Manager
“For those leaders who want to succeed in today’s increasingly global and interdependent environment, Leading with Cultural Intelligence is for you. Now, more than ever, applying this simple four-step cycle will prepare you for tomorrow’s world.” — Paul Polman, Chief Executive Officer, Unilever
Learn more about David Livermore | Buy Leading with Cultural Intelligence on Amazon
Life is too short to settle for less than the best—especially if we are called to lead other people. Leading from the heart is working and leading from your passion zone. Why does leading from the heart really matter?
In this short new passion-packed book by Dr. Hans Finzel, you will learn what it means to work in your “passion zone.” Hans explains from his own journey, how to find your passion zone and what action steps to take if you are far from that place of fulfillment.
People love following leaders whose hearts are fueled by passion. This book will help you uncover what passion in your work really is, and how to find it, no matter what stage you are at in your career. The advice in this book is especially powerful for anyone in a role of leadership that is experiencing boredom or burn out.
“If you’ve lost your passion, or never quite found it, read this book! It will teach you how to lead with a heart that is fully alive.” – Kathrine Lee – Life & Business Strategist
“Hans Finzel’s warning to leaders is convicting: ‘You have two choices to make. Whatever you do, make one of the two. The worst mistake is to do nothing.’ Whether now, or in some lonely leadership days ahead, trust me–you must read this book. – John Pearson – Author, Mastering the Management Buckets
Learn more about Hans Finzel | Buy The Power of Passion in Leadership on Amazon
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]]>For an entrepreneur, launching a startup begins with the creation of something from nothing. This creation should take into account what an individual is passionate about and this can beRead More
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]]>For an entrepreneur, launching a startup begins with the creation of something from nothing. This creation should take into account what an individual is passionate about and this can be done by listing the items and prioritizing them to help an individual remain focused on their idea.
When launching a startup, an entrepreneur must make sure that he or she stands out from the crowd especially because of the large number of new businesses that are launched every year. This is the reason that a successful launch is necessary to help an individual have a strong social proof, build a user base rapidly and improve the chances of long-term growth.
The following are five popular ways entrepreneurs can launch a startup:
The target market chosen should be an industry that is growing fast, big and profitable. The selected market can then be won by differentiation where a business gives customers more of what they want and this boosts their willingness to pay or a business that serves as a low-cost producer and charges the lowest price in the industry. When customers buy the products, the entrepreneur should monitor the changing customer needs as well as new technologies and figure out other additional products to build as well as fresh markets to conquer.
The competition should be studied through the performance of the strengths, weaknesses, opportunities and threats analysis. A list of businesses that offer services and products similar to the one being launched should be done, a review of the marketing materials which includes brochures and ads should also be done.
The marketing tactics and strategy should also be chosen. This involves the sales as well as the marketing channels that can be used which include online, catalog or using dealers. Multichannel marketers usually achieve great success because customers like it when they can shop when and however they like.
Knowing the product’s life cycle is important because the campaign used during the introduction as well as education phase of the service or product needs to be updated as the service or product matures. An entrepreneur should monitor the marketing results carefully so as to notice any diminishing returns that indicate when to revise the service or product, alter the media message or phase out the particular offering.
This is important so that people can start signing up to receiving emails from an email list. This should be done before the official launch. Email is important because it can get people engaged as well as convert them into customers. For the email list to work an entrepreneur must get their contact list together, this can be done by downloading contacts from those on the email or from people spoken to. This data can be put in a customer relationship management system. Emailing people directly with the launch announcement is more effective than posting it on social media.
Having a large list of motivated and qualified email subscribers is important if the business is to grow. This list can be built by using list building strategies as follows:
> The list can be built with article marketing where the content is taken from the entrepreneur’s blog or website and is then submitted to article directories.
> Videos can be used to build the list because videos help to authentically connect with the people who visit the entrepreneur’s site and allows engagement in a compelling manner. Videos also allow an individual to interact with prospects better.
> Pay-Per-Click advertising can be used in list building and is one technique that can attract many ideal as well as highly qualified leads consistently.
This list dictates the number of clients and customers that sign on and this affects the income of the business.
For an individual to optimize their website, it is important that they give the right kind of information that will grab people’s attention as well as leave an element of mystery that will generate curiosity. The content on the website should be useful, link-worthy and entertaining as this increases the chance of the start-up being discovered. Assess the type of content the competition is creating and use gaps in the content as an opportunity to deliver something the competitors have missed or are lazy to perfect. Keywords should be worked into the posts and the blog optimized for the search engines.
Having a page that is a basic “Coming Soon” page, can be used to entice people to sign up. Offering a special bonus can be an effective way to get early subscribers. Make social sharing an important part of your website and lead generation plan as well.
The sign-ups should be monitored on a daily basis and this should be set up in a way that an email is received every time someone signs up. This can be used to send the person a follow-up thank-you note.
Attracting clients consistently requires that the entrepreneur’s marketing message be clear and stand out. When this message is clear, the marketing plan will be so much easier as well as less costly. To communicate regularly it is important to engage the audience immediately. This can be done by sending out emails regularly, as well as offering people something that will be useful to them with each message. This is one way to keep them signed up, and respond positively to the launch. Have email programs that will allow the set up of “autoresponder” sequences that enable the automatic sending to people a particular set of messages once they sign up.
The emails can offer sneak peeks concerning the progress of the business, industry news, fun quips and also how-to.
To launch a startup successfully, align it with relevant companies that have significant reach. With that being said, it is very important that an entrepreneur looks for opportunities in brands that will complement their product offering and provide unique value for the customers. Build relationships with people regarded as influential in the industry. This will open the business to powerful resources, endorsements as well as introductions to other key influencers in the industry.
The Startup Survival System by Kurt Won
New Business Next Steps by Ann Hawkins
Become Your Own Boss in 12 Months by Melinda Emerson
Startupland by Mikkel Svane
100 Days of Growth by Sujan Patel
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]]>One of the hardest parts about being an entrepreneur and owning your own business is setting aside a significant amount of time for personal development especially when it comes toRead More
The post 5 Ways Entrepreneurs Can Master The Art Of Speed Reading appeared first on The Entrepreneurs Library.
]]>One of the hardest parts about being an entrepreneur and owning your own business is setting aside a significant amount of time for personal development especially when it comes to reading educational material. When your business’ welfare and growth potential lies in your ability to learn new business practices quickly and keep as much time free as possible, it can be challenging to make sure that you are not reading too rapidly.
Once you learn to read, you will be forever free. – Frederick Douglas (highlight to share)
When an entrepreneur can perfect the art of speed reading, they are able to use their time for more efficiently and focus more on their business. By following these five helpful tips I’ve gathered from very busy entrepreneurial authors, you can master the art of speed reading your business books and other educational material.
There is an erroneous belief that circulates among those who read over important business books and documents, a belief that reading should be done at night, when there are fewer distractions. But did you know that a person actually reads best during the early hours of the day? There are far fewer distractions that present themselves during the morning, and this is when important reading should be completed.
Your brain functions best early in the morning, whereas your nighttime brain functionality is compromised by all of the events that have already taken place that day. Reading in the morning gives your brain a clean slate to work with and is proven to increase your concentration skills. By reading earlier in the day, your speed is doubled and you are able to deal with your most important tasks first, clearing the remainder of your schedule for other crucial entrepreneurial duties.
A great way to read business books faster is to skim the text first, before you do a full-fledged read. This allows you to isolate the key points and phrases and figure out the main ideas. Once this has been accomplished, you can then take a deeper plunge into the material, knowing that you have a greater understanding. This technique is especially beneficial to those with a job that requires them to read a great deal of non-fiction material.
By taking the time to understand the structure of the book you are trying to read, you decrease the total amount of time you will need to spend reading it. Not only does this technique exponentially increase your overall reading speed, but it also does wonders for reading comprehension. Being able to speed read is great, but it is all for naught if you do not fully grasp the material you’ve consumed.
What many entrepreneurs do not know is that the environment that they choose to read in makes a huge difference in their ability to read quickly. Even something as simple as the way you hold the book can make a world of difference. Rather than holding the book up on your own, use a reading stand, one that allows the book to rest at a 45 degree angle. This reduces the strain on a person’s eyes, while also enabling a much faster reading speed.
Some enjoy reading in bed, but this is not a good place to absorb crucial materials. The body’s natural instinct is to relax once you have laid down in bed, which decreases reading comprehension, increasing the chances that you will need to go over it a second time. More difficult materials should be read during the daytime hours, in a place where your mind will remain focused. Relaxing and reading comprehension do not go hand in hand.
Of course, highlighting may have worked for you back in your college days and there are a variety of people who swear by this tactic when it comes to speed reading. Yes, highlighting in bright, pretty colors may give you the illusion that you are reading faster, that you can skim the material and come back to the important stuff later on. When you highlight, you’re essentially delaying your actual learning of the material.
When you highlight, all you are doing is giving yourself more work to do. Instead of taking an extra second to ensure that you understand the material during the first read, you will know have to go backwards and read it again. The more times you read a certain piece of material, the less of a chance you are able to retain over the long haul. So put the highlighter away and make sure you read properly the first time.
There are bound to be moments in any business text that are less important than others. Learning what is truly important and training your focus on these specific parts will help you to cut down your overall reading time. Don’t be afraid to preview the book before you read it, so that you get a true sense of the book’s structure and the lessons it is trying to teach.
This will allow to speed up your reading and slow down as necessary. Speed reading is not about attempting to fly through a book as rapidly as you can, it is about absorbing the material quickly and efficiently, without sacrificing your comprehension. Certain materials can be read at different speeds than others and an experienced entrepreneur knows how to speed up and more importantly, when to slow down.
As a business mentor for MentorMojo, speed reading expert Emerson Spartz has more speed reading tips in detail here:
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]]>Who is Peter Voogd and what you can learn from him: Peter Voogd has received a great deal of attention from a variety of outlets, due to his inspiring trueRead More
The post 5 Lessons Entrepreneurs Can Learn From Peter Voogd appeared first on The Entrepreneurs Library.
]]>Peter Voogd has received a great deal of attention from a variety of outlets, due to his inspiring true story. Voogd was completely and totally broke, but did not allow his circumstances to define him. He set out on the path to riches and was able to go from being dead broke to having six figures within a mere six months. Peter Voogd was not content to sit back and rest on his laurels, so he wrote a book. The book, entitled 6 Months To 6 Figures became a bestseller.
The following are some of the most important lessons that every entrepreneur can learn from Peter Voogd and his book:
While most people would be inclined to give up when they are completely broke, Voogd did not let his situation bring him down. As a result, he was able to triumph under difficult circumstances. If nothing else, Voogd’s story should serve as inspiration to every would be entrepreneur out there. No matter what your current situation is or how many obstacles stand in your path, there is way to make all of your wildest dreams come true.
“Never let someone who gave up on their dreams talk you out of yours.” – Peter Voogd (highlight to share)
So many entrepreneurs fall into the trap of allowing themselves to be defeated before they have even had a chance to begin. Voogd did not. Since his story is no fairy tale and he provides realistic ways for his readers to achieve the same goals as he did, there is no reason why an entrepreneur should not be able to take some level of inspiration from it.
A regular complaint from the majority of entrepreneurs who are starting out is that there simply aren’t enough hours in the day to get everything done. Voogd knows this and his work is dedicated to showing entrepreneurs more efficient ways of doing things. He shows his readers how to get their bigger tasks accomplished in much less time, without taking any shortcuts that could potentially damage the quality of the work being produced.
His strategies are not sugarcoated for mass consumption and he did not rely on any sort of gimmicks to achieve his fortune. Voogd was able to make himself a millionaire several times over by the young age of 27, so his tactics are proven to work. His success is what gives him an immense amount of credibility in the entrepreneurial community.
A lesson that Voogd constantly preaches to his acolytes is the importance of selecting your inner circle wisely and knowing about the dangers of associating with the wrong kinds of people. There are certain people in your life who are just not as vital to your day to day survival as you may believe they are. There are some people in your life who do not matter and never will.
If you hang around with people who do not have goals and plans for their life, then you will end up in the same boat as them. On the other hand, if you spend your time around those who are driven and goal oriented, then you are able to soak up the lessons that their presence teaches you.
The term that Voogd uses to describe this phenomenon is “circle of influence”. In an ideal scenario, a person’s circle of influence would include several people that they can look up to, some true role models. While the term is bandied about too much in modern times, it is crucial for an entrepreneur to spend time around like minded people that they can gain valuable perspective from.
Voogd preaches the importance of being able to do more with less time and not being afraid to tell people no if what they are asking for will interfere with your ability to accomplish all of the necessary tasks for the day. Organizing your schedule is key and Voogd shows entrepreneurs how to organize their schedule in a manner that leads to maximum productivity.
Whereas some entrepreneurs believe that spending 80 hours a week working is the path to success, Voogd shows them how to work smarter and not harder. He realized that he was using 80 percent of his effort to accomplish 20 percent of his goals and made the needed changes so that he could flip those numbers to his benefit. He began to focus on the most important 20 percent of his daily activities, the ones that created 80 percent of his overall results.
Voogd speaks about confidence and why an entrepreneur needs to destroy their insecurity to move forward. In order to have the utmost confidence, an entrepreneur must have clarity. Clarity only comes to those who have done the proper amount of thinking and know what their goals are and what it will take for them to reach these goals.
An entrepreneur does not get anywhere unless they have a take charge attitude and believe in their own ability to make things happen. No one is going to come along and make things happen for you and this is a lesson that Voogd spends his time teaching to younger entrepreneurs who are struggling with uncertainty.
Talking about success is one thing, but having the guts that it takes to go out and actually pursue it in earnest is quite another. Obstacles are always going to be in your way, but a confident person knows that they have what it takes to overcome them.
Preview 6 Months to 6 Figures with Peter Voogd himself
Buy 6 Months To 6 Figures by Peter Voogd on Amazon today
Visit 6FiguresBook.com to learn more about Peter’s book
Visit GameChangersMovement.com to learn more about his academy
Join the 6 Months to 6 Figures accountability group on Facebook
Follow Peter Voogd on Twitter and Facebook
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]]>When starting any sort of new business venture, social media marketing and online promotion have become two of the most important ways for an entrepreneur to get their products outRead More
The post 5 Social Media Mistakes Most Entrepreneurs Make appeared first on The Entrepreneurs Library.
]]>When starting any sort of new business venture, social media marketing and online promotion have become two of the most important ways for an entrepreneur to get their products out to consumers.
While social media is free (for the most part) and easy to use, it is also easy to make mistakes. Getting distracted by all of the bells and whistles that come with social media can keep a budding startup business from true success.
“Marketing is no longer about the stuff that you make, but about the stories you tell.” – Seth Godin (Highlight to Share)
There are a variety of social media mistakes that entrepreneurs make when it comes to marketing their business online. Using social media platforms to communicate is a great format, but only when done properly. We’ve interviewed many authors on social media marketing and I compiled a list of the common social media mistakes most entrepreneurs make so you know what to avoid.
Perhaps you were extremely accomplished in your previous ventures or maybe you have a very strong pedigree. There is nothing wrong with being proud of the accomplishments of your past, but most of your social media followers will not care to hear about them on a daily basis. When you share too much about your past achievements, it is a huge turn off to those who do not already know your work.
Just like anything else in life, talking about your past achievements is best done in moderation. There are instances where your past experiences will come in handy and when they are germane to the discussion, there is nothing wrong with bringing them up.
However, social media users are savvier than ever. They will see through any attempts to call attention to yourself by being boastful and may decide not to use your products or services because of your arrogant social media presence. Even worse, this affects your company’s word of mouth in a negative manner.
Social media is great, because it gives potential consumers a chance to get to know you on a more personal level. This can be a bad thing if you are a person who allows themselves to get swept up in negativity. We all have bad days and personal beefs, but social media is no place to air your sour grapes or complain about the hard times in your life.
Consumers use social media as a means for escaping the drudgery of day to day living, so the last thing they want to be confronted with are the harsh realities of your life. Airing your personal frustrations about the problems that you are having with other people or whining about how hard you life is will lose you social media followers and create bad word of mouth.
Put yourself in the shoes of the consumer. Would you want to buy a product from someone who used their social media profile as a place to vent and complain? The answer is usually no in most instances. Before you fire off your negative social media post, take a moment to consider what your customer base will think of it.
Social media is a great outlet to speak intelligently, but it is even more important for you to use it as a place to listen. By using social media to garner consumer feedback, you have the opportunity to collect information that is specifically designed to help you. If a consumer has a complaint, you can rectify it immediately and ensure that you do not lose their business.
You can also use social media to engage with customers on a more personal level, getting to know them better. While it is great to let consumers learn more about you, learning more about them allows them to feel more valued. Speaking to them about matters more important than your latest sales and promotions is pivotal.
The plethora of tools and usages that social media provides for its users can be overwhelming, causing an entrepreneur to lose sight of the ones that are most important. Social media comes equipped with analytic tools that are geared towards measuring the impact of your social media marketing push.
These tools often come free or can be purchased at exceedingly reasonable prices. The tools will show you which of your posts have become most popular and let you know if any of your materials have shown the ability to go viral.
Posts can also be scheduled when you are too busy to get to a computer or smartphone. With so many options available to you, an entrepreneur would be a fool not to at least explore some of them. No matter what goal you are trying to accomplish, there is an analytic tool designed to help.
One of the best parts of social media is its ability to offer you a means of promoting several different products at once. An entrepreneur can easily leverage social media’s reach to gain as many new customers as possible. There are so many possibilities and there are a million thoughts that are probably crossing your mind about how to pursue them. Enhancing your business prospects comes first and foremost.
Be careful about getting caught up in the madness of trying to promote several different products and services at once. Over promotion can fatigue the audience and cause them to pass by your posts when they are using social media. Training your focus on just one venture allows the audience to get to know the product better. It also decreases the the number of distractions.
As a business mentor for MentorMojo, virality expert Emerson Spartz gives some more effective social media marketing tips in detail here:
The Art of Social Media by Guy Kawasaki and Peg Fitzpatrick
Digital Bacon by Alex Rodriguez
Trendology by Chris Kerns
Do It! Marketing by David Newman
A World Gone Social by Ted Coine and Mark Babbitt
The post 5 Social Media Mistakes Most Entrepreneurs Make appeared first on The Entrepreneurs Library.
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