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11 Ways To Stand Out And Radically Increase Profit Margins Even In A Crowded Market

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11 Ways To Stand Out And Radically Increase Profit Margins Even In A Crowded Market
McDonald’s, Burger King, Wendy’s…kind of all the same thing, aren’t they? As far as quality goes I would have to rule with either Burger King or Wendy’s over McDonald’s any day of the week.
But who has more business? McDonald’s does. They were around first. And now, even though they’re not the best (in my opinion at least), they’re still the richest.

Unfortunately for Burger King and Wendy’s, they are not going to get ahead by doing the same old thing, but just being a little bit better at it. In a world with massive competition, businesses need to stand out from the crowd.

They need to un-commoditize. That’s what Burger King and Wendy’s are missing. Next to McDonald’s they’re just commodities, even if they are a little better. So if you can’t be McDonald’s, be Taco Bell or Starbucks instead. Don’t be Wendy’s or Burger King.

The beauty about un-commoditizing your business is that it puts you in a category of your own. When you are in your own category, there’s nothing to compare you with. When there’s nothing to compare you with, then there’s no set expectations for how much you should cost.

When that happens, guess who gets to set the expectations? You do, which means you can set your prices drastically higher and radically increase your profit margins. If you can effectively bring in and keep customers without having to compete on price, then you’re probably going to be rich. Does that sound okay with you?

To help you do that, I’ve included a list of 11 strategies that you can use to un-commoditize your business.

 

1. Go with a different look

Marketing expert, Perry Belcher tells of a company he worked with that imported heat sealers from China. “Everybody in the world brings in these little heat sealers from one company in China. They’re an aqua blue color and… just scream, I’m a Chinese heat sealer!

Belcher was able to command a higher price for the exact same heat sealer simply by making it look different. He had the heat sealers painted red instead of blue (which probably didn’t cost him any extra) and sold them through a company with an American sounding name.

Apple does something similar with their shiny white computers that sell for three times the price of a PC. Going with a different look is probably not the only way that you’ll want to stand out, but it might be a great way to start.

 “Be the one to stand out in the crowd.” – Joel Osteen

2. Be aggressively devoted to premium quality

Speaking of Apple, how many times have you heard that one of their products just bombed? Answer: Not recently. In fact, it was reported that preorders for their watch sold out in a matter of hours. Compare that with their main competitor, Microsoft, who has had significant problems with two out of the last four Windows updates.

No wonder Apple products cost so much more. And it’s not just Apple. Think of names like:

  • Rolls-Royce
  • Gucci
  • The Four Seasons
  • Disney
  • Tiffany’s

These are companies that do not compete on price. They get rich competing on quality.

 

3. Bundle physical products with your information products

Thanks to the Internet, selling information products is easier than ever. As a result, everybody is selling information products. After all, why not? The profit margin can be up to nearly 100%. The downside of this is that it becomes very hard to stand out.

With all this competition we’re seeing much lower prices for certain information products than you would have seen only a few years ago. But, if you’re interested in getting rich, then competing on price is a bad idea. Instead, find a way to stand out and charge even higher prices.

A great way to do this is to bundle information products with physical products. For example: A company that sells a course on how to be a better skier could bundle the course with a set of skis and charge a much higher price.

 

4. Bundle information with your physical goods

This is the reverse of what I was just talking about. The Internet has created massive competition for sellers of information and physical goods alike. By bundling information products with your physical goods you can drastically increase profit margins.

Using the same type of example as before: Instead of just selling a set of skis, you could sell them along with a course on how to be an expert skier. By using this strategy you can raise the price significantly, without increasing costs very much.

Luckily, information products are not too hard to come by. You can partner with someone who sells information products. You can offer to publish an information product that someone has created or wants to create. Or, if you have the expertise, the time and the interest, you can create your own information products.  (Note: Just make sure that the information products you use are always top notch.)

 

5. Create a subcategory

Charles Lindbergh was the first person to fly the Atlantic solo. That’s fairly common knowledge. Do you happen to know who the second person was? Nobody knows, even though Bert Hinkler actually did a better job. He made the trip in less time and with less fuel.

But, in business poor Bert would have been nothing more than a me-too product that people ignore. The dominating spot in his market had already been taken, and sometimes people just don’t care if you can do the job better. There’s already a name that they trust.

If you’re new to a market that already has a leader, then you need to create your own subcategory that nobody has claimed yet. You’ve possibly heard of the third person who flew the Atlantic solo. Her name was Amelia Earhart. But no one remembers her as the third person to get the job done. She was the first woman to get the job done. She had her own subcategory.

Want an example? Between Apple and Microsoft the personal computer market is pretty competitive. But what if a company came along and created its own computers with an operating system that is designed specifically and exclusively for gamers?

Between Microsoft having had way too many problems in the last few years and Apple not really focusing on the videogame market, a company who did a great job creating and marketing a computer exclusively for gamers might be very successful.

“Today we’re living in an anti-Waldo world, where you don’t want to blend in and have people struggle to find you. You want your personal brand to stand out like you’re wearing a red and white sweater, and everyone else has on black.”  – Jarod Kintz

6. Create a better guarantee

With so many swindlers out there your customers obviously need to know that they’re not stepping into a trap they can’t get out of. Hopefully that’s not news to you. Unfortunately, in many markets having a 60 day 100% money back guarantee is more of a given than a bonus these days.

Just about everyone has some type of guarantee. If you want to stand out, why not try offering something much better than everyone else. For example you could try offering to refund 110% of your price to any unsatisfied customer. Obviously your risk is slightly higher with such a guarantee.

But your likelihood of losing money instead of gaining much more money with this kind of guarantee is extremely low, assuming you’re offering a quality product or service. What type of superior guarantee could you offer in your business?

 

7. Be a contrarian brand

Whether it be corporate giants, big government, the media or even some charity organizations, people just don’t trust the mainstream establishment anymore. There’s been one too many stories about corporate deception, political bribes and media coverups.

Sometimes to be successful, you can’t just be a little different than everyone else. You have to be the opposite. In The 22 Immutable Laws Of Marketing Al Ries and Jack Trout write:

A good No. 2 [brand] can’t afford to be timid. Burger King’s most successful years came when it was on the attack. It opened with “Have it your way,” which twitted McDonald’s mass-manufacturing approach to hamburgers. Then for some unknown reason Burger King got timid and stopped attacking McDonald’s. It even started a program to attract little kids, the mainstay of McDonald’s strength. Burger King’s sales per unit declined and have never returned to the level they were when it was on the attack.”

How could you attack the status quo and make your business an opposite brand? Remember: What you’re offering doesn’t have to be the exact opposite or even necessarily very different. What has to be opposite is your message and how you position yourself.(Note: After all, Burger King was never really that different from McDonald’s.)

Stand Out

8. Create an outstanding acquisition offer

Thanks to the Internet creating a global marketplace, small businesses can reach more customers than ever before. But the Internet is a mixed blessing. Yes, you can reach a vastly increased pool of potential customers. But, you are also placed next to a vastly increased number of competitors.

Add this to the fact that today’s buyers are more skeptical than ever, and you may have a real problem on your hands. The good news is that all your competitors face that same dilemma, which gives you a chance to get ahead of them… if you use smart strategies.

Today’s buyers are so skeptical, they tend to stick with brands that they know and trust. But, how are they ever going to trust you if they never give you a chance? The trick is getting that first sale which allows you to knock their socks off and prove that your brand is the one that deserves their business.

A great way to do this is with an acquisition offer. An acquisition offer is a high-value, low priced offer that allows you to acquire a new customer and prove to them the quality of your brand. If you can prove to them that your brand offers great quality and service, then they’ll probably keep on buying from you in the future.

Cable/Internet companies have a tendency to do this by offering a deeply discounted rate for a limited time. During that discounted phase they’re hoping to prove how great their service is, so that you’ll stay with them long-term.

An example of a similar strategy is McDonald’s dollar menu. Maybe you go there just to buy that one dollar burger. But what do they do once you’re there? They ask “Would you like fries and coke with that?” I guarantee you, they’re not getting rich off the sale of one dollar burgers. They’re getting rich off the sale of side dishes and soft drinks.

 

9. Focus on a benefit your competitors don’t talk about

Sometimes what you sell doesn’t actually have to be different. Sometimes what is different is what you say and who you say it to. Let’s say there are five different companies that buy the same type of soap from the same manufacturer.

One company emphasizes how good their soap is for dry skin. One company emphasizes the powerful germ killing effect of their soap. Another company tells people that they offer THE soap to use if you want to smell and feel like an attractive lady. One company emphasizes how refreshed and clean their customers will feel after they get out of a shower with this soap. The last company emphasizes how effective their soap is at eliminating body odor.

Now, these companies might have asked for a bit of customization. Maybe they each have their logos on the bars of soap. Maybe one company asked for their soap to be colored blue while another asked for pink, but they are all selling the same exact soap!

None of them are lying. All the soap being sold by these companies is good for dry skin, eliminating B.O., killing germs and so on. Yet these five companies are able to sell the exact same product to different target markets simply by emphasizing different benefits.

The beauty is that all five might end up being very successful even if they charge high prices, because they’re just selling next to each other. They’re not competing with each other.

 

10. Describe your process and why it’s good (even if it’s not unique)

Let’s take that last soap example a little bit further. Let’s say that there is a sixth company that starts buying some of the same soap from the soap manufacturer. They’re just passionate about the germ killing effects of this soap and they don’t want to come up with a different angle to use to sell to a different target market.

Their problem is that there is already another company, with an established brand, selling that same product to that same market. The new company will want to find a way to differentiate itself. This can actually be as simple as telling their customers why their product works so well.

Instead of just saying: “Our soap is THE soap to use to kill germs.” They can say: “Our soap is THE soap to use to kill germs because we include powerful, state-of-the-art antibiotics in our formula. The germs won’t stand a chance.”

By saying this, they are able to differentiate themselves and sell the exact same product to the exact same market for the exact same reason. If they sell their product using this message they may be able to get a serious advantage over the company that was already selling to the germ killing market.

Because they sell it as a product using state-of-the-art science, they could likely charge an even higher price than the already established company. It doesn’t matter that the first company has those antibiotics too, because the customer doesn’t know that.

And the first company can’t suddenly start talking about the powerful antibiotics in their formula, because they will then look like the me-too company. They’ll have to come up with a new reason why they are still the best germ killing soap company.

 

11. Offer out of this world customer service

Am I the only one who hates having to call help or customer support at companies? First you have to wait forever to actually talk to a person. You never know if they’re actually going to know what they’re doing and be helpful or if they will be ignorant, stubborn or rude.

So why not be the company that blows their customers away with how good they are treated? Try these:

  • Try guaranteeing to answer the phone by the third ring.
  • Try offering to have someone come out to your customer’s home or office to help them assemble your product and/or teach them how to use it.
  • Follow up after a purchase with a friendly phone call and make sure everything is alright. Ask if they have any questions or anything else you can help them with.
  • Be relentlessly helpful, friendly and generous every step of the way.

 

Conclusion

Un-commoditizing your business is not only possible. It’s essential if you want to compete and win in a competitive global marketplace.

Once you un-commoditize your business, you’ll have the power to drastically raise prices and increase profit margins without getting compared to cheaper alternatives. If you truly and successfully un-commoditize your business then there are no alternatives.

These 11 strategies can help you stand out in business. So, which un-commoditizing strategy are you going to try first?

Seth Coyne is a copywriter and branding consultant. Click here to download his Innovation Cheatsheet with 9 hacks to creating an endless stream of brilliant ideas for entrepreneurship, business growth and career advancement. You can follow him here on Twitter.

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4 Comments

4 Comments

  1. Alice Dartnell

    Jul 28, 2015 at 7:11 am

    Fab article! Some really useful, but most importantly applicable, ideas.

  2. web development minneapolis

    Jun 14, 2015 at 3:48 am

    This website definitely has all of the info
    I wanted concerning this subject and didn’t know who to ask.

    • Seth

      Jun 19, 2015 at 2:15 pm

      Glad you found this helpful!

  3. Stefanie

    Jun 11, 2015 at 8:11 am

    Hey Seth,
    thank you for this awesome article, offering a lot of high quality content!
    I find it kind of difficult to pick up that one strategy to start with first, since I think it’s important to have them all working together. However, as I am in the information business, strategy no. 3, Bundle physical products with your information products, is the strategy that made me think first. I noticed that at least here in Germany, people often give a higher value to physical than to a digital product. A combination would definitely increase the perceived value.
    Cheers
    Stefanie

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Startups

Why You Should Use Pinterest to Grow Your Business

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pinterest for business

Raise your hand if you’ve been snubbing Pinterest. If your hand is raised, know that you’re not alone because also I used to. Mind you, about two years ago I did actually take the time to set up an account, yet that’s where my Pinterest relationship began and ended. I took a few minutes to look around and checked out. I felt like a squirrel on acid. Too chaotic, too many recipes and so much mom and baby stuff!

This isn’t for me. I’m a personal development blogger and an inspirational/motivational Facebook page owner. I thought Pinterest was no place for me because I post quotes and self help blogs. Due to this, I closed my mind off to it until December 27, 2017.

With the constant urging of a friend, I cautiously opened the Pinterest door again, almost like I was expecting some casserole to come out and smack me upside the head.

I looked around and much to my surprise and delight, there were other bloggers and business peeps just like me on Pinterest. I was instantly hooked. With a new appreciation for this beast, I dove in and got to work. I had 15 followers and no boards. After a few weeks of burning the midnight oil, getting Pin ready images for my blogs, resizing quote images from my Facebook page, creating boards, and joining tribes and other group boards, this happened.

Pinterest statistics

It’s not just babies and crafts

If you are a blogger or business owner, Pinterest has a place for you. Let’s talk a bit about what it is and isn’t.

First and foremost, Pinterest is not a social media platform, it’s a search engine like Google but more colorful and fun. The great thing about Pinterest is that it has its own search engine within it. You can see what your people are searching for. 

Another thing to note is people buy things on Pinterest. Lots of things! Check out this link for Pinterest stats! Now that you know what it’s not, let me tell you what it is. It’s a powerhouse traffic driver.

There’s power behind using Pinterest to drive traffic to your blog. Just take a look at these astounding facts:

  • A pin is 100 times more spreadable than your average tweet
  • Each pin can drive up to 2 page visits and 6 pageviews
  • Ecommerce sites benefit from pinning as each pin can generate 78 cents
  • The life of a pin is one week! Compare that to 24 minutes for Twitter and 90 minutes for Facebook. (source bloggingwizard.com)

In February of this year, my organic reach was just over 1.2 mil views! Remember, I started working it at the end of December with nothing.

pinterest business

It’s not as hard as you think!

It’s time consuming but definitely not hard. Take a minute to think about this, you work hard on your business. You want to reach people, sell things, inspire others, and teach through Pinterest. Don’t you think it would be worth your time and effort to work at something that will actually produce mind blowing results? Of course it would be!

Here are a few tips to get you started on Pinterest:

  • Create a business account. 
  • Have a look around to see what other people in your niche are pinning. Take a look to see what pins attract your attention. 
  • Head over to Picmonkey or Canva and create some pins for your blog or your products. Images are everything! Take extra time on these, you want them to be engaging and you definitely want repins.
  • Create boards and keep them secret until you have enough pins in them to go public. I usually wait until I have about 15 (as I’m creating new boards).
  • Find groups to join so you can share your stuff and repin others. Groups and Tailwind tribes (you should join Tailwind-tons of my traffic comes from there) are key! Think of them as an online networking/marketing event. You need them. I checked out big pinners in my niche, had a look at the group boards they belonged to and then asked to join. 
  • Get active. Pin from other people’s boards, connect with others, join Facebook groups for pinners. Aim to pin 20–50 times a day. It’s really up to you how often you want to, I’ve settled for 30 a day. Don’t let those numbers frighten you. Tailwind takes care of that for you!
  • Keyword your descriptions, boards, pins, everything! Remember, search engine.

Now get going!

Obviously there’s a tad more to it than that but once you get set up and get going, you will quickly become addicted to Pinterest (as I have) and be blown away at the growth of your business.

When you think about it, how much time are you spending (wasting) on social media platforms that just aren’t doing it for you? You’re pulling your hair out wondering why things aren’t working. Stop running the hamster wheel and head on over to Pinterest. It’s not just home decor, breastfeeding pumps and tuna salad recipes. There’s a whole other world you need to explore. If you discount it, you are leaving precious clients and money on the table.

“Social media is about sociology and psychology more than technology” Brian Solis

Have you used Pinterest for your business before? If so, did you like it? Let us know your thoughts in the comments below!

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5 Steps to Turn Your Business Into a Well Oiled Machine

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how to automate your business
Image Credit: Unsplash

A lot of online business owners that I interact with run “one man” operations. They spend most of their time delivering to their clients, leaving little room to bring in new ones, and generally grow their business. I’ve been there myself, and it’s incredibly easy to get stuck on solopreneur island, because in order to get off you have to jump into the unknown water and swim.

There are a two main problems with being a solopreneur, and if you are one these it may seem very familiar to you. First of all, as mentioned above, it’s easy to get busy delivering to clients, but that doesn’t actually grow your business, getting NEW clients does. The other big problem is that everything depends on you. You can’t get sick, tired, or go on a holiday, because as soon as you take your foot off the gas pedal, everything stops. Funnily enough, many of us start our own businesses in order to get freedom, yet many just end up creating another job for themselves.

The good news is that you can get off solopreneur island. I’ve done it, and here’s how to do it yourself:

Step #1 – Get clarity & package your offers

A lot of solopreneurs offer a wide range of services. They talk to prospects from all angles, and tailor make their services to fit each unique client’s needs. Sounds like a noble thing to do, but it’s not sustainable. A better approach is to look at the common denominator of the clients you’ve already worked with, and see if you can turn that into a front end offer.

I used to talk to prospects, listen to their needs, and then create a proposal, which usually got rejected. Since we sell video production, I told myself that every video is different, and you can’t turn that into a package. That was simply a limiting belief, and we eventually started offering 30, 60, and 90 second videos with either template or custom graphics.

Look at all the things you’re offering, and see if you can turn your offers into a menu, just like at a restaurant.

“Time = life; therefore, waste your time and waste your life, or master your time and master your life.” – Alan Lakein

Step #2 – Start treating your website like the asset it could be

Your website can get you new clients on autopilot. Don’t hold your website back by having 3 portfolio items and a contact form. Turn it into a salesman.

We get anywhere from 5-20 new clients every single month through our website. The way to accomplish this is to first and foremost realize that people cannot make a purchase if they have unanswered questions. Put all the information they need to make a decision right there on your website. If your prices are less than $1,000 for what you offer, I believe you can make the sale right there on the website. If it’s higher than $1,000 I generally recommend to get people on a phone call first.

These are some things you should do to your website: describe the problem your audience has, describe your solution, show lots of previous work, and tons of testimonials. You should also answer all the frequently asked questions, offer a guarantee, show pictures of your team and most importantly, go for the sale/phone call, not a contact form. Don’t hold your website back, let it work for you.

Step #3 – Build a high quality team

People freak out about hiring. They think hiring means you have to be able to pay someone $60,000 a year, but that’s not true. Like anything else, you can and should, start small. I hired my Project Manager for 3 hours per week when we started.

You’ll also note I wrote “high quality” above. This is crucial. When you hire a $3/hour graphics designer from India, I promise you’ll get $3 quality work. The problem with being cheap when you hire is that you get people that aren’t good at what they do, and can’t solve their own problems. When people can’t solve their own problems it’ll be up to you to do that. You’ll end up working just as much as if you didn’t hire them in the first place, therefore you are effectively paying money to give yourself stress. Does that sound like a good deal to you?

It’s better to hire a $25/h person for 3 hours than a $5/h person for a month. Once I decided to try hiring a high quality freelancer instead of a cheap one, I instantly saw the benefits and have never gone back.

Step #4 – Build systems and procedures

You should have a process in place for everything that is done in your business, especially the stuff that is done repeatedly. Use project management software so that your client facing work always follows the same structure. Use Trello for internal processes. Create documents and checklists showing how to do things.

If you’re training a new employee, record a video rather than doing the training live as you should expect to have to train another person on the same exact thing in the future.  This way a ton of the training will already be ready to go if your employee quits on you (this happened to me and I was able to successfully replace a project manager and have the new one up and running within one week!)

“To be happy, we must not be too concerned with others.” – Albert Camus

Step #5 – Automate when possible

Make a list of every task that happens in your business from when a prospect finds you to when your product is delivered to them. Then, look at how many of those things can actually be done by a computer, and get to work using Zapier and all your other tools. I even recorded a video series where I educate the client along the way.

If you find yourself having the same conversations over and over again, just record a video and save yourself the time! Every automation you put in place is going to save you minutes and eventually hours every single week. This frees up your time so that you can focus on growing your business, instead of just delivering to your clients.

Summary

Getting off solopreneur island is not rocket science. You’ll need to get clear on what your packages are, put your client acquisition on autopilot, get a high quality team in place, document and checklist everything, and finally automate what you can.

Once you actually go through with this you’ll find that your business can run without you, but more importantly you’ll be able to spend your time on growing the business, and not being forced to do the day-to-day operations.

What’s your main takeaway from this article? Comment below!

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Why Your Business Should Focus on Effectively Outwitting Competitors

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business competition
Image Credit: Twenty20.com

It shouldn’t be a case of getting out of the kitchen if you can’t stand the heat, it should rather be the case of not venturing into the kitchen. Any brand which was set up with the outlook that there won’t be competitors was started on the wrong premise and will be plummeted into oblivion.

Any road to success is thorny but paved with advantages, which may be fair or unfair. It borders on putting in personal sacrifices which are prone to constant uncertainty, existential threats, and taking a headlong plunge into making terrifying decisions. It’s definitely not a place for the Lilly-minded and nitwits because you are setting out to engage in a fierce competition with the best minds in the business world.

What you should work tenaciously upon is your competitive advantages. Ensure the things you have going for you are brought to the forefront. You will require the right mix of guts, tactics, timing, and the knack for hitting the rod when it’s red hot because opportunities coming your way should be quickly utilized.

Dilly-dallying will be highly disastrous and very devastating. Your brand may not be a pacesetter and you don’t have a carte blanche to do whatever you fancy, yet it behoves on you to gear up to face competition from the onset.

Amazingly, however, you can effectively outwit your competitors in the global market. You just need leveraging on the following steps:

1. Research other winning brands

A lot of people may consider this to be absurd but that is the joker you have. What you do must be entirely different from other brands in the same industry as your brand. When you concentrate on researching your rivals in the same industry, you may only come up with something akin to what they do.

You, however, need to come up with something completely new and stunning, a whole set of nouveau innovations and the only way to get that is by going out of your industry completely. Your ideas must be mind-blowing and eye-opening not minding that you are possibly a newbie in the industry.

It’s of utmost importance that you build with the future in mind, before launching your product into the market. This singular action of yours will quadruple and ironclad your chances of surviving the onslaught in the market.

“Only a fool learns from his own mistakes. The wise man learns from the mistakes of others.” – Otto van Bismark

2. Spin your obvious weakness into your strong point

You definitely will have some weak points and your competitors will seek those out to backstab and whip you silly in the market. You shouldn’t, however, be deterred by this. You can swivel this supposedly bad fortune into a huge arsenal for your brand with the attendant result of leaving your competitors on the turf.

A brand’s weak point could be the price. It’s possible your price is on the high side in comparison with others in the market. This is an opportunity to showcase your ingenuity by adding domestic customer service, home delivery, extended warranty, or any other incentive which you know your competitors will chicken out on.

The initial venture will definitely pummel your finances but by the time your prospective customers come to identify these advantages which were supposedly weak points with you, your ROI will skyrocket sensationally. Your competitors who had set out to tailspin you will be wondering what hit them.

3. Stay glued to your clients

The customer is the king and this must be your brand’s watchword. Your taste may be the best in the world but it’s absolute balderdash if it doesn’t resonate with the customer. You must learn to maximize the values your customers hold high and play down other money-grubbing wastes.

To effect this you must stay glued to your customers. Find out what they have going for your products and how you can enhance them. This effort may be a time suck and you may be required to put in odd hours tracking down your customers but it will pay off handsomely.

John C. Maxwell, aptly described this situation when he said “You will never change your life until you change something you do daily. The secret of your success is found in your daily routine.” Make your customers off-limits to your competitors. You can enhance this by making sure you are constantly in contact with your customers.

“When a customer enters my store, forget me. He is king.” – John Wanamaker

You should be in tune with those things that can make or break your business as well as having the metrics to measure how well you are doing. It’s absolutely necessary that you know your brand’s fundamental metrics like the average customer value (ACV), cost per acquisition (CPA), return on investment (ROI), and break even.

Business is like the art of war and the best form of defence is to attack.

How to you make sure people stay loyal to your brand? Let us know some tips and advice below!

Image courtesy of Twenty20.com

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Enough With The Word ‘Startup’

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The word ‘startup’ has created a false reality.

When we think of startups we now think of the following:

  • Cool kids wearing their startup t-shirts
  • Co-working spaces
  • Lots of lattes with a picture drawn in the froth
  • San Francisco and how perfect it is (I’ve been there and it’s not perfect:  #HomelessPeopleEverywhere)
  • Unicorns (not the ones you see on kid’s shows)
  • Made up valuations (a GFC fixes this problem nicely)
  • Accelerators (an overload of opinions that are just that)
  • Pitch nights where investors are made to look like Fortune Tellers and experts when the reality is nothing more than this: they’re guessing

 

It’s time to bin the word startup.

The word has no meaning. Day one is the start and then everything after that is just business. By continually using the word startup we’re implying we’re still at the start when we’re not.

“The word startup makes us feel crappy because it puts us in the amateur, early stage, “I’m still learning” category which never expires”

We never know what we’re doing in business completely and that’s a good thing.

Everything is constantly changing and so we’re going to be lifelong learners in the business world whether we like it or acknowledge it.

 

The word ‘Startup” means business so let’s call it that.

Just like a penis, big or small, it’s a fucking penis. Let’s call it what it is.

Maybe you’re a small business with one employee.

Maybe you’re a large corporation with 35,000 employees

Maybe you work one day a week on a side hustle.

Maybe you have two freelancers working for you one day a month.

It’s all just business. Sorry cool kids, the word ‘startup’ doesn’t make business any easier, different, simpler, funkier or any other description you can give.

 

Can everyone really be an entrepreneur?

I’ll give it to you straight amigo: no, they can’t.

“Some of you suck at entrepreneurship even though Instagram sells you on the dream that you can sit on the beach with your laptop, sip a cocktail, take a selfie and do one hour of work a day”

This is all a lie designed to mess with your head and force you to suffer FOMO thus resulting in social media engagement for someone with a landing page that leads to a digital product where there’s a payment wall for you to insert your credit card number and add money to a bank account that’s not yours.

Many of you can’t handle:

  • Risk
  • Stupid amount of stress
  • 12-hour days
  • Managing other people
  • Having to be creative
  • Customers whose demands never stop
  • The game of money
  • Soul crushing failure

The list could go on forever. There are so many components to entrepreneurship.

Only about 1% of people are truly cut out for it. Just like not everyone can be a leader - otherwise there would be no followers - not everyone can be an entrepreneur. And that’s okay.

You’re human - you’ll be okay.

That doesn’t mean you shouldn’t try entrepreneurship. Sometimes giving it a shot and doing it is the only way to find out.

Life is not all about startups and entrepreneurship - there’s more to it than that.

 

When does the ‘Startup Phase’ end?

It doesn’t.

Some people say Stripe is a startup even though they do billions in revenue now. Some people call my side-hustle a startup even though it’s just me.

The word ‘startup’ keeps getting used because somehow it puts you in a different league where growth hackers (I call it sales), dev-ops, UX designers and a whole bunch of other words that describe a team that does sales or builds software exists.

 

A startup is not a startup; it’s called a business.

No more buzz words.

No more unicorns.

No more thinking you’re smarter than your competitors.

No more BS valuations.

No more naming and shaming people who don’t want to be a founder of a startup like you.

Not everyone is in love with startups and not all of us want to be founders. Some people want to be stay-at-home dads or stay-at-home moms.

Some people want to raise their kids instead of being on the front of Startup Daily with a bunch of cool kids.

There’s more to life than fucking startups and #StartupLife.

 

Business is business. 

  1. You build a product or service with you or a co-founder.
  2. You attempt to see whether it solves a problem
  3. You continue validating the idea beyond your mom & dad, friends and work colleagues
  4. You make some money - $1, $100, $100k - it doesn’t matter
  5. You continuously improve the product to make your customers happier
  6. You make them happy and the business makes more money
  7. You build out a team so you can grow the business to be bigger
  8. Then you either stop at where you are and be bloody happy, or you raise money in some form - VC, bank, angels, parents, ICO (insert trendy way to borrow more money)
  9. You hi-five everyone, sell the business and sit on a beach or you keep going because it becomes about more than money

THE END.

 

Final Word On Startups. 

If you want to create a business, then do it. If you don’t then that’s fine too.

Find a problem, solve it and be humble as hell about it if you succeed. There’s more to this world than the ridiculous label that is startup.

If you want to increase your productivity and learn some more valuable life hacks, then join my private mailing list on timdenning.net

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What You Can Learn From My Ultimate “I Am Screwed” Moment.

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Image Credit: Unsplash / Gold Chain

When I was 16 years old, I had the ultimate “I am screwed moment.”

Everything from this point on happened in slow motion. What I’m about to describe probably happened in the space of thirty minutes but it felt like five hours.

I was walking down the street with my buddy one night, eating a paddle pop ice cream. Out of the corner of my eye, I saw a group of about twenty teenagers running towards us, dressed in black.

I instantly knew that something was up and as they got closer, we both realized we were screwed and there was nowhere to run to.

Seconds later the gang of teenagers came straight towards us as fast as they could.

“I got lucky and copped a baseball bat to the head. My friend wasn’t so lucky. He was repeatedly stabbed by several different people and there was blood everywhere.”

As I saw what happened to my friend, I knew I’d be next. I was hit so many times with the baseball bat that I was numb from the pain. Everything started to go white.

Then I heard a faint voice. The voice was calling my name out.

I listened to what the young man was saying and realized he was saying that his little brother knew me. All of a sudden, he put out his hand, lifted me off the ground and told me to run in the other direction, or I’d end up like my friend.

I somehow managed to get on my feet and run, but I was not giving up on my friend. I ran around the back of the shopping center that we were standing outside of and entered the building. I ran to the first security guard I saw and told them I needed help.

In my search to get help, miraculously, my friend had made it into the shopping center and he was being treated by a number of bystanders for his massive knife wounds.

I went over and spoke to him. He was okay and things looked better than I expected. I had about sixty seconds of calmness. Then I looked to my left.

Through the glass doors, I could see the same gang of teenagers running into the shopping center. Everyone including the two security guards ran in opposite directions.

My friend with his multiple knife wounds also ran and there were bandages everywhere as he made a run for it (I’m not even sure how he was able to move).

This time I was the unlucky one. I ran into the part of the shopping center that was closed for the night and three of the youths followed me. I’d never been so afraid because I saw what they did to my friend.

I ended up in the shopping centers food court and I hid in the darkness. I tried to control my breathing, but it was hard to silence the fear inside of me. I still remember the white Nike pants I was wearing and the bright red Sean John jumper I had on (I later discarded them because of the memory they left).

Again, through some kind of miracle, the three boys did not see me. They ran off in another direction and I stayed under the table.

The pain of my wounds started to set in. I knew deep down I was safe and so the fight or flight response was turned off. All of a sudden, moving and walking felt very painful.

I could feel broken bits of teeth in my mouth.


The aftermath.

After some time had passed, I manage to reconnect with my friend. By that time there was an ambulance on the scene and he managed to get his knife wounds treated. He got lucky and no vital organs were affected.

The next day I went to school and people could see I had gone through one hell of an ordeal. One of my friends in the year level below, came and found me and explained to me that it was his older brother and friends that attacked me.

They had mistakenly thought that we had come from a party, because of the direction we came from, where he was beaten up. He told me that because they had recognized me, to some degree, I was spared.

The story doesn’t end here though (I wish it did). Even after the brutal event, one of the attackers was still upset with me. I didn’t know why and it made no sense. I had multiple times where he and his friends were waiting for me in certain places and I was told they would harm me.

Through a mutual friend, I was able to resolve the conflict and I found out that a few of them were close friends with a few of my friends. In the coming years, I got to know my attackers.

“They were not the horrible violent people I encountered on that night. They slowly changed their ways and one of them has gone on to do extraordinary kind acts all over the world.”


A revelation from this “I am screwed” moment.

After this horrible event had occurred, I tried to make sense of it. I was not a violent person in any way but in a way, I had created this path for myself.

During my teenage years, I let rap music and violence dominate my life. I thought they were both cool.

The revelation from all of this was that I knew I had to change my life. I knew that the path I was on had led me to this moment and only I could change things. The next time an attack like this happened, I may not be as lucky.

I gave up rap music, I changed my group of friends, I started a business with my brother, I quit smoking and I disengaged from anything that was violent. Looking back, an “I am screwed” moment can be extremely valuable. It’s during these difficult times that we learn about who we are and what we can do to change our lives.

I would never have become obsessed with legacy, giving back and personal development if I hadn’t had this life or death experience.

I’m now fully aware of my mortality and I’m never going to take another day for granted.

Everything can change in a split second for better or for worse. What you do in that moment is up to you.

Nothing happens randomly (even this attack). Everything happens for a reason and when you ensure you get the lesson from it, you can go on to do extraordinary things.

I’m typing these words and reaching millions of people with them, partly because of this “I am screwed” moment.


If you want to increase your productivity and learn some more valuable life hacks, then join my private mailing list on timdenning.net

Tim is best known as a long-time contributor on Addicted2Success. Tim's content has been shared millions of times and he has written multiple viral posts all around personal development and entrepreneurship. You can connect with Tim through his website www.timdenning.net

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4 Comments

4 Comments

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Startups

Why You Should Use Pinterest to Grow Your Business

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pinterest for business

Raise your hand if you’ve been snubbing Pinterest. If your hand is raised, know that you’re not alone because also I used to. Mind you, about two years ago I did actually take the time to set up an account, yet that’s where my Pinterest relationship began and ended. I took a few minutes to look around and checked out. I felt like a squirrel on acid. Too chaotic, too many recipes and so much mom and baby stuff!

This isn’t for me. I’m a personal development blogger and an inspirational/motivational Facebook page owner. I thought Pinterest was no place for me because I post quotes and self help blogs. Due to this, I closed my mind off to it until December 27, 2017.

With the constant urging of a friend, I cautiously opened the Pinterest door again, almost like I was expecting some casserole to come out and smack me upside the head.

I looked around and much to my surprise and delight, there were other bloggers and business peeps just like me on Pinterest. I was instantly hooked. With a new appreciation for this beast, I dove in and got to work. I had 15 followers and no boards. After a few weeks of burning the midnight oil, getting Pin ready images for my blogs, resizing quote images from my Facebook page, creating boards, and joining tribes and other group boards, this happened.

Pinterest statistics

It’s not just babies and crafts

If you are a blogger or business owner, Pinterest has a place for you. Let’s talk a bit about what it is and isn’t.

First and foremost, Pinterest is not a social media platform, it’s a search engine like Google but more colorful and fun. The great thing about Pinterest is that it has its own search engine within it. You can see what your people are searching for. 

Another thing to note is people buy things on Pinterest. Lots of things! Check out this link for Pinterest stats! Now that you know what it’s not, let me tell you what it is. It’s a powerhouse traffic driver.

There’s power behind using Pinterest to drive traffic to your blog. Just take a look at these astounding facts:

  • A pin is 100 times more spreadable than your average tweet
  • Each pin can drive up to 2 page visits and 6 pageviews
  • Ecommerce sites benefit from pinning as each pin can generate 78 cents
  • The life of a pin is one week! Compare that to 24 minutes for Twitter and 90 minutes for Facebook. (source bloggingwizard.com)

In February of this year, my organic reach was just over 1.2 mil views! Remember, I started working it at the end of December with nothing.

pinterest business

It’s not as hard as you think!

It’s time consuming but definitely not hard. Take a minute to think about this, you work hard on your business. You want to reach people, sell things, inspire others, and teach through Pinterest. Don’t you think it would be worth your time and effort to work at something that will actually produce mind blowing results? Of course it would be!

Here are a few tips to get you started on Pinterest:

  • Create a business account. 
  • Have a look around to see what other people in your niche are pinning. Take a look to see what pins attract your attention. 
  • Head over to Picmonkey or Canva and create some pins for your blog or your products. Images are everything! Take extra time on these, you want them to be engaging and you definitely want repins.
  • Create boards and keep them secret until you have enough pins in them to go public. I usually wait until I have about 15 (as I’m creating new boards).
  • Find groups to join so you can share your stuff and repin others. Groups and Tailwind tribes (you should join Tailwind-tons of my traffic comes from there) are key! Think of them as an online networking/marketing event. You need them. I checked out big pinners in my niche, had a look at the group boards they belonged to and then asked to join. 
  • Get active. Pin from other people’s boards, connect with others, join Facebook groups for pinners. Aim to pin 20–50 times a day. It’s really up to you how often you want to, I’ve settled for 30 a day. Don’t let those numbers frighten you. Tailwind takes care of that for you!
  • Keyword your descriptions, boards, pins, everything! Remember, search engine.

Now get going!

Obviously there’s a tad more to it than that but once you get set up and get going, you will quickly become addicted to Pinterest (as I have) and be blown away at the growth of your business.

When you think about it, how much time are you spending (wasting) on social media platforms that just aren’t doing it for you? You’re pulling your hair out wondering why things aren’t working. Stop running the hamster wheel and head on over to Pinterest. It’s not just home decor, breastfeeding pumps and tuna salad recipes. There’s a whole other world you need to explore. If you discount it, you are leaving precious clients and money on the table.

“Social media is about sociology and psychology more than technology” Brian Solis

Have you used Pinterest for your business before? If so, did you like it? Let us know your thoughts in the comments below!

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Startups

5 Steps to Turn Your Business Into a Well Oiled Machine

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how to automate your business
Image Credit: Unsplash

A lot of online business owners that I interact with run “one man” operations. They spend most of their time delivering to their clients, leaving little room to bring in new ones, and generally grow their business. I’ve been there myself, and it’s incredibly easy to get stuck on solopreneur island, because in order to get off you have to jump into the unknown water and swim.

There are a two main problems with being a solopreneur, and if you are one these it may seem very familiar to you. First of all, as mentioned above, it’s easy to get busy delivering to clients, but that doesn’t actually grow your business, getting NEW clients does. The other big problem is that everything depends on you. You can’t get sick, tired, or go on a holiday, because as soon as you take your foot off the gas pedal, everything stops. Funnily enough, many of us start our own businesses in order to get freedom, yet many just end up creating another job for themselves.

The good news is that you can get off solopreneur island. I’ve done it, and here’s how to do it yourself:

Step #1 – Get clarity & package your offers

A lot of solopreneurs offer a wide range of services. They talk to prospects from all angles, and tailor make their services to fit each unique client’s needs. Sounds like a noble thing to do, but it’s not sustainable. A better approach is to look at the common denominator of the clients you’ve already worked with, and see if you can turn that into a front end offer.

I used to talk to prospects, listen to their needs, and then create a proposal, which usually got rejected. Since we sell video production, I told myself that every video is different, and you can’t turn that into a package. That was simply a limiting belief, and we eventually started offering 30, 60, and 90 second videos with either template or custom graphics.

Look at all the things you’re offering, and see if you can turn your offers into a menu, just like at a restaurant.

“Time = life; therefore, waste your time and waste your life, or master your time and master your life.” – Alan Lakein

Step #2 – Start treating your website like the asset it could be

Your website can get you new clients on autopilot. Don’t hold your website back by having 3 portfolio items and a contact form. Turn it into a salesman.

We get anywhere from 5-20 new clients every single month through our website. The way to accomplish this is to first and foremost realize that people cannot make a purchase if they have unanswered questions. Put all the information they need to make a decision right there on your website. If your prices are less than $1,000 for what you offer, I believe you can make the sale right there on the website. If it’s higher than $1,000 I generally recommend to get people on a phone call first.

These are some things you should do to your website: describe the problem your audience has, describe your solution, show lots of previous work, and tons of testimonials. You should also answer all the frequently asked questions, offer a guarantee, show pictures of your team and most importantly, go for the sale/phone call, not a contact form. Don’t hold your website back, let it work for you.

Step #3 – Build a high quality team

People freak out about hiring. They think hiring means you have to be able to pay someone $60,000 a year, but that’s not true. Like anything else, you can and should, start small. I hired my Project Manager for 3 hours per week when we started.

You’ll also note I wrote “high quality” above. This is crucial. When you hire a $3/hour graphics designer from India, I promise you’ll get $3 quality work. The problem with being cheap when you hire is that you get people that aren’t good at what they do, and can’t solve their own problems. When people can’t solve their own problems it’ll be up to you to do that. You’ll end up working just as much as if you didn’t hire them in the first place, therefore you are effectively paying money to give yourself stress. Does that sound like a good deal to you?

It’s better to hire a $25/h person for 3 hours than a $5/h person for a month. Once I decided to try hiring a high quality freelancer instead of a cheap one, I instantly saw the benefits and have never gone back.

Step #4 – Build systems and procedures

You should have a process in place for everything that is done in your business, especially the stuff that is done repeatedly. Use project management software so that your client facing work always follows the same structure. Use Trello for internal processes. Create documents and checklists showing how to do things.

If you’re training a new employee, record a video rather than doing the training live as you should expect to have to train another person on the same exact thing in the future.  This way a ton of the training will already be ready to go if your employee quits on you (this happened to me and I was able to successfully replace a project manager and have the new one up and running within one week!)

“To be happy, we must not be too concerned with others.” – Albert Camus

Step #5 – Automate when possible

Make a list of every task that happens in your business from when a prospect finds you to when your product is delivered to them. Then, look at how many of those things can actually be done by a computer, and get to work using Zapier and all your other tools. I even recorded a video series where I educate the client along the way.

If you find yourself having the same conversations over and over again, just record a video and save yourself the time! Every automation you put in place is going to save you minutes and eventually hours every single week. This frees up your time so that you can focus on growing your business, instead of just delivering to your clients.

Summary

Getting off solopreneur island is not rocket science. You’ll need to get clear on what your packages are, put your client acquisition on autopilot, get a high quality team in place, document and checklist everything, and finally automate what you can.

Once you actually go through with this you’ll find that your business can run without you, but more importantly you’ll be able to spend your time on growing the business, and not being forced to do the day-to-day operations.

What’s your main takeaway from this article? Comment below!

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Startups

Why Your Business Should Focus on Effectively Outwitting Competitors

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business competition
Image Credit: Twenty20.com

It shouldn’t be a case of getting out of the kitchen if you can’t stand the heat, it should rather be the case of not venturing into the kitchen. Any brand which was set up with the outlook that there won’t be competitors was started on the wrong premise and will be plummeted into oblivion.

Any road to success is thorny but paved with advantages, which may be fair or unfair. It borders on putting in personal sacrifices which are prone to constant uncertainty, existential threats, and taking a headlong plunge into making terrifying decisions. It’s definitely not a place for the Lilly-minded and nitwits because you are setting out to engage in a fierce competition with the best minds in the business world.

What you should work tenaciously upon is your competitive advantages. Ensure the things you have going for you are brought to the forefront. You will require the right mix of guts, tactics, timing, and the knack for hitting the rod when it’s red hot because opportunities coming your way should be quickly utilized.

Dilly-dallying will be highly disastrous and very devastating. Your brand may not be a pacesetter and you don’t have a carte blanche to do whatever you fancy, yet it behoves on you to gear up to face competition from the onset.

Amazingly, however, you can effectively outwit your competitors in the global market. You just need leveraging on the following steps:

1. Research other winning brands

A lot of people may consider this to be absurd but that is the joker you have. What you do must be entirely different from other brands in the same industry as your brand. When you concentrate on researching your rivals in the same industry, you may only come up with something akin to what they do.

You, however, need to come up with something completely new and stunning, a whole set of nouveau innovations and the only way to get that is by going out of your industry completely. Your ideas must be mind-blowing and eye-opening not minding that you are possibly a newbie in the industry.

It’s of utmost importance that you build with the future in mind, before launching your product into the market. This singular action of yours will quadruple and ironclad your chances of surviving the onslaught in the market.

“Only a fool learns from his own mistakes. The wise man learns from the mistakes of others.” – Otto van Bismark

2. Spin your obvious weakness into your strong point

You definitely will have some weak points and your competitors will seek those out to backstab and whip you silly in the market. You shouldn’t, however, be deterred by this. You can swivel this supposedly bad fortune into a huge arsenal for your brand with the attendant result of leaving your competitors on the turf.

A brand’s weak point could be the price. It’s possible your price is on the high side in comparison with others in the market. This is an opportunity to showcase your ingenuity by adding domestic customer service, home delivery, extended warranty, or any other incentive which you know your competitors will chicken out on.

The initial venture will definitely pummel your finances but by the time your prospective customers come to identify these advantages which were supposedly weak points with you, your ROI will skyrocket sensationally. Your competitors who had set out to tailspin you will be wondering what hit them.

3. Stay glued to your clients

The customer is the king and this must be your brand’s watchword. Your taste may be the best in the world but it’s absolute balderdash if it doesn’t resonate with the customer. You must learn to maximize the values your customers hold high and play down other money-grubbing wastes.

To effect this you must stay glued to your customers. Find out what they have going for your products and how you can enhance them. This effort may be a time suck and you may be required to put in odd hours tracking down your customers but it will pay off handsomely.

John C. Maxwell, aptly described this situation when he said “You will never change your life until you change something you do daily. The secret of your success is found in your daily routine.” Make your customers off-limits to your competitors. You can enhance this by making sure you are constantly in contact with your customers.

“When a customer enters my store, forget me. He is king.” – John Wanamaker

You should be in tune with those things that can make or break your business as well as having the metrics to measure how well you are doing. It’s absolutely necessary that you know your brand’s fundamental metrics like the average customer value (ACV), cost per acquisition (CPA), return on investment (ROI), and break even.

Business is like the art of war and the best form of defence is to attack.

How to you make sure people stay loyal to your brand? Let us know some tips and advice below!

Image courtesy of Twenty20.com

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Startups

Enough With The Word ‘Startup’

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The word ‘startup’ has created a false reality.

When we think of startups we now think of the following:

  • Cool kids wearing their startup t-shirts
  • Co-working spaces
  • Lots of lattes with a picture drawn in the froth
  • San Francisco and how perfect it is (I’ve been there and it’s not perfect:  #HomelessPeopleEverywhere)
  • Unicorns (not the ones you see on kid’s shows)
  • Made up valuations (a GFC fixes this problem nicely)
  • Accelerators (an overload of opinions that are just that)
  • Pitch nights where investors are made to look like Fortune Tellers and experts when the reality is nothing more than this: they’re guessing

 

It’s time to bin the word startup.

The word has no meaning. Day one is the start and then everything after that is just business. By continually using the word startup we’re implying we’re still at the start when we’re not.

“The word startup makes us feel crappy because it puts us in the amateur, early stage, “I’m still learning” category which never expires”

We never know what we’re doing in business completely and that’s a good thing.

Everything is constantly changing and so we’re going to be lifelong learners in the business world whether we like it or acknowledge it.

 

The word ‘Startup” means business so let’s call it that.

Just like a penis, big or small, it’s a fucking penis. Let’s call it what it is.

Maybe you’re a small business with one employee.

Maybe you’re a large corporation with 35,000 employees

Maybe you work one day a week on a side hustle.

Maybe you have two freelancers working for you one day a month.

It’s all just business. Sorry cool kids, the word ‘startup’ doesn’t make business any easier, different, simpler, funkier or any other description you can give.

 

Can everyone really be an entrepreneur?

I’ll give it to you straight amigo: no, they can’t.

“Some of you suck at entrepreneurship even though Instagram sells you on the dream that you can sit on the beach with your laptop, sip a cocktail, take a selfie and do one hour of work a day”

This is all a lie designed to mess with your head and force you to suffer FOMO thus resulting in social media engagement for someone with a landing page that leads to a digital product where there’s a payment wall for you to insert your credit card number and add money to a bank account that’s not yours.

Many of you can’t handle:

  • Risk
  • Stupid amount of stress
  • 12-hour days
  • Managing other people
  • Having to be creative
  • Customers whose demands never stop
  • The game of money
  • Soul crushing failure

The list could go on forever. There are so many components to entrepreneurship.

Only about 1% of people are truly cut out for it. Just like not everyone can be a leader - otherwise there would be no followers - not everyone can be an entrepreneur. And that’s okay.

You’re human - you’ll be okay.

That doesn’t mean you shouldn’t try entrepreneurship. Sometimes giving it a shot and doing it is the only way to find out.

Life is not all about startups and entrepreneurship - there’s more to it than that.

 

When does the ‘Startup Phase’ end?

It doesn’t.

Some people say Stripe is a startup even though they do billions in revenue now. Some people call my side-hustle a startup even though it’s just me.

The word ‘startup’ keeps getting used because somehow it puts you in a different league where growth hackers (I call it sales), dev-ops, UX designers and a whole bunch of other words that describe a team that does sales or builds software exists.

 

A startup is not a startup; it’s called a business.

No more buzz words.

No more unicorns.

No more thinking you’re smarter than your competitors.

No more BS valuations.

No more naming and shaming people who don’t want to be a founder of a startup like you.

Not everyone is in love with startups and not all of us want to be founders. Some people want to be stay-at-home dads or stay-at-home moms.

Some people want to raise their kids instead of being on the front of Startup Daily with a bunch of cool kids.

There’s more to life than fucking startups and #StartupLife.

 

Business is business. 

  1. You build a product or service with you or a co-founder.
  2. You attempt to see whether it solves a problem
  3. You continue validating the idea beyond your mom & dad, friends and work colleagues
  4. You make some money - $1, $100, $100k - it doesn’t matter
  5. You continuously improve the product to make your customers happier
  6. You make them happy and the business makes more money
  7. You build out a team so you can grow the business to be bigger
  8. Then you either stop at where you are and be bloody happy, or you raise money in some form - VC, bank, angels, parents, ICO (insert trendy way to borrow more money)
  9. You hi-five everyone, sell the business and sit on a beach or you keep going because it becomes about more than money

THE END.

 

Final Word On Startups. 

If you want to create a business, then do it. If you don’t then that’s fine too.

Find a problem, solve it and be humble as hell about it if you succeed. There’s more to this world than the ridiculous label that is startup.

If you want to increase your productivity and learn some more valuable life hacks, then join my private mailing list on timdenning.net

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