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7 Things To Remember If You Dream To Have Your Own Business

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7 Things To Remember If You Dream To Have Your Own Business

It is about 7:00 PM Sunday now, and you are getting a sick feeling about going to work tomorrow. You must get up early on Monday morning and get ready for the office. Now even the distraction of the idiot-box could not stop this anxious feeling.

A thought strikes that you may feign sickness tomorrow and take one day – just one smallish day off but the client meetings and responsibilities at your office will not let you do so. You want an extra day’s rest from the dog-eat-dog corporate world but you cannot do so.

This anxiety is simply because you are not able to tap your inner bliss and passion. You are not living up to your best potential. Rather than being in the moment you are living more in the past or future. When you live a fulfilled life you spread happy moments throughout each day.There is something to enjoy even on Mondays, your boss does not look any different on Monday! Does he? Maybe you are not pursuing what you always wanted to do!

Maybe you wanted to have your own business, or become an entrepreneur or open a restaurant near your favourite location. Maybe you wanted to be a writer? Think back, what dreams did you have growing up? I am sure it’s not the Dilbert’s cubicle you dreamt of! Maybe you always a wanted a business which allows you to visit Paris, London, Zurich, Spain, Portugal, whole Europe and live for an extended period of time there. Maybe you wanted to go to wild safaris in Africa, snorkel in Australian reefs or watch Monasteries in Japan.

“Know yourself and you will win all battles.” – Lao Tzu

Due to family pressure and social norms you had to school yourself for ‘a good job’. When I was in college I wanted to have a business, what business? I had no idea. I did start a sales business but could not stick with it. Why? Because parental and social pressure says you must have a ‘good job’. I got into a good job but I always wanted something more, something that gives me freedom and passion.

Think of this freedom like your relationship. Suppose your partner always taunts you for your clothes, what would you do? You will push back like “I don’t need your free advice; I am OK (which you are).” But if your partner bought you brand new Fashion-TV type clothes and marvels how good you look then chances are you will look into the mirror and think “hmm… now this is something I like.”  Which will make the relationship grow strong.

The imperial corporate world is built differently by its ‘champions’ and ‘leaders’, because they mean only business. “Work hard and go home, keep your feelings with yourself.” Most importantly the current profile and enormous responsibility at your office are not translating your dreams into reality. The only hope of getting out of the rat-race in a job is winning the lottery.

I know you can’t just leave your job and get set for your dreams, unless you have a good chance of consistent stream of income. I know it is not that easy – but yeah with correct knowledge and drive we can fulfill our destiny.

Now working at a Fortune 500 Bank in Loans and Credits Department for six years I was always tempted to compare successful companies or businesses and their successful owners to losing companies and their losing owners. I have worked right from the front-line desk guys who consult prospects for loans (and their dreams); to the cabins where dreams of entrepreneurs are presented and sanctioned. I can tell you what I have learnt from many successful entrepreneurs and what I am observing to be working best.

Here are the 7 Lessons I have learned:

 

1. Interact and validate your business idea

If you want to open a restaurant, then go out and meet some successful restaurant owners. Winners are good at heart. You will be surprised by their readiness to teach an open young mind. They can tell you critical information about the suppliers, buyers, market condition and more.

If you wanted to be a real estate agent, then meet few agents in your locality. They will be able to provide you some insider knowledge that you must know to start. They may offer you commissions if you bring business to them, and this way you learn in the process.

You can contact on email or phone first and then take 15-20 minutes appointment. Before becoming a success coach I interacted with lots of people by email and Facebook. Some responded some didn’t, that’s OK. But I met some really nice souls this way and they motivated me to pursue my passion of becoming a success and life coach.

Another shortcut, take your banker out on lunch and ask them, how the industry is doing? Are the loans or other accounts doing well? If most of them are bad, it does not make any sense for you to enter, as many professionals are not making money in the industry.

 

2. Start taking baby steps towards what you want

Do some free work for people and you will discover some new knowledge in the field. You do not have to see the whole stair case to go up the stairs, just climb one step at a time.

Author, Mike Dooley observed that in his earlier business of selling T-shirts whenever he was out for marketing, even if he didn’t sell anything, someone at the office would receive an order. So make a definite plan and start taking action from today.

 

3. Winners are students throughout life

Brace yourself to learn entrepreneurship, marketing, communications, and networking. There are some things that you can outsource, but marketing, communications and maintaining relationships with your clients – you cannot and should not outsource that.

Learn as much as you possibly can about the industry you want to make a career in. A lot of people assume learning stops when you graduate High School or University. Little do they know that is when the learning actually begins.

Reading
 

4. Take a course in communication and marketing

If you did not take the course on communications at your college then take one now. You will be amazed to know how to communicate from your clients’ perspective, what do they want and critical non-verbal communications and body-language.

Most of the companies start with these types of courses during probation so maybe you have already done that. If not then make some arrangements this weekend. It can make or break your chances of success.

 

5. Do not become cocky at your new business

I have made costly mistakes of loaning to cocky people, assuming it is a sort of self-confidence. Cockiness can get you a few dates at the Pub but not long-term repeat clients. Nobody cares how hot your business idea may be.

Venture Capitalists, unlike bankers, are ruthless to break through cockiness and decide if the idea is viable or not. Take care of your clients like your own brothers and sisters and they will take care of your business and expand it.

 

6. Maintain savings for at least two years before you leave your job

Generally speaking new businesses often take somewhere around one to one-and-half years to break-even. You may break into profit even earlier also but it makes sense to have at least two years worth of savings with you.

If it is hard for you maybe due to the high credit card debt in our society then you must first pay off the debt as soon as possible before you even think of leaving your job and becoming an entrepreneur full-time.

“Only the educated are free.” – Epictetus

7. Take your business as a part time hobby first

Now before you go full-time in your business. You must have family responsibilities and rent to be paid. So instead of going all out with that restaurant plan, why not follow another plan and open a food-truck first, this way you accelerate your learning. Or if you want to become an author, complete your novel in free time and try to get it published.

Famous fiction Author, Stephen King, did not leave his teaching job long before he started earning enough from his published books. Thereafter, he churned out over fifty popular fiction books.

You must test the waters first and take an overall view for what it takes to launch a business. You will find water is deep indeed, but like Mr. Darby and his uncle of the famed story ‘Three Feet from Gold’ said, you must persist before you see the success you always wanted. Do remember to have fun throughout the journey.

 

You can visit my website here. I can show you how to live a more fulfilled life!

Thank you for reading my article! Please leave comments below!

Mohinish Nirwal is an upcoming underdog Success and life coach. His upcoming blog www.BoostBliss.com is a platform to interact with evolving souls who want to live a fulfilled life with more freedom.

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22 Comments

22 Comments

  1. satish

    Aug 12, 2015 at 12:00 pm

    Hi,

    when I first start reading your article I was shocked because it seems like I am reading my story from starting.

    All the condition , situation you have mentioned is totally right.

    Your article give me boost to take one step forward to fulfill my dreams.

    Thanks.

    • Mohinish Nirwal

      Aug 13, 2015 at 2:35 am

      I am glad Satish you are moving forward with your dreams..
      Thanks.

  2. Britney

    Jul 12, 2015 at 9:42 pm

    Great post! Thank you for sharing. I applaud your courage to pursue your true passions. My favorite points are #3 and #5. Being a 2014 college graduate, I quickly learned that life learning never stops. As you stated, a person must stay humble to continue to learn and grow. I wish you much continued success!!

    • Mohinish Nirwal

      Jul 13, 2015 at 1:38 am

      thanks Britney,
      I appreciate your attitude.
      thanks
      Mohinish

  3. Tony Kates

    Jul 8, 2015 at 1:49 pm

    I agree with every item on the list especially #3 “Winners are students throughout life”. The only way to win is to learn and the bigger lessons are learned when we failed which means you have to go out there, keep on trying, keep developing yourself and learn from everything.

    • Mohinish Nirwal

      Jul 9, 2015 at 2:32 am

      hello Tony,
      You are spot on. Winners are always on learning curve. And it usually not one subject.. Your thoughts?
      Thanks
      Mohinish

  4. Heather

    Jul 7, 2015 at 2:58 pm

    Hi Mohinish,
    Great post – lots to think about. I’ve run my own small consultancy for nearly 7 years now and can definitely say that #3 – continuing to be a student – has been key in helping me to build the business and adapt to different challenges and opportunities that have come my way.

    I couldn’t start small and build – I had to just make the leap – because my freelance business was in direct competition to what I did as an employee. And I certainly didn’t have 2 years savings as a cushion – although I did have around 6 months. Now I’m in the process of starting a new business, so it is slightly ‘back to the drawing board’. I came across your post at good time!

    Thanks,
    Heather

    • Mohinish Nirwal

      Jul 8, 2015 at 2:09 am

      well good luck for you new endeavor Heather.
      Thanks
      Mohinish

  5. David

    Jul 6, 2015 at 5:19 pm

    Great post thanks!

  6. bestessaysforsale.net

    Jul 6, 2015 at 12:37 pm

    I read this article and must admit it is really great! Thank you for your job!

  7. Radzone

    Jul 6, 2015 at 12:35 pm

    Your post was a great one to look at first thing on a Monday morning. It helps keep the dreams alive. Only one point that I “might” take exception with – it’s the point of having a 2-year cushion since most endeavours take about that long to get going. It’s true it might take that long, but having a fallback plan may allow some to cruise through the plan because there isn’t a sense of emergency. As Hernán Cortés said in 1519 – “Burn the Boats!”. I say go for it.

    • Mohinish Nirwal

      Jul 8, 2015 at 2:13 am

      Yeah I agree with that Radzone, but sometimes when people have to put food on the table they need to have savings. Secure the food part and unleash yourself in other. You can have passive sources of income also.
      Best wishes
      Mohinish

  8. Esther

    Jul 6, 2015 at 8:03 am

    Hi Nirwal,

    Thank you so much for this great post!

    I mostly hear about validation with your future prospects. But it is so true what you write, learning from those who are already successful in what you want to do can be priceless.

    But not everybody dears to reach out to experts. Which brings me to the point that having the right mindset is crucial throughout the 7 points you described.

    What do you think?

    Cheers,

    Esther

    • Mohinish Nirwal

      Jul 8, 2015 at 2:16 am

      Yeah whenever we reach out of our comfort zone our palms are sweaty. But with right mindset and courage an entrepreneur moves forward.
      Thanks
      Mohinish

  9. Dr.Manu

    Jul 6, 2015 at 7:00 am

    Great post and practical approach…Thank you

  10. willy braun

    Jul 6, 2015 at 6:33 am

    Great post

    Love reading the articles

    I have a question.

    What if you already started a business love it too but you didn’t take the these steps and now you find out that the water is way deeper then expected and it’s really hard to keep going. Is it possible to still come up from under it and become successful?
    And what would be most important steps to take?

    • Mohinish Nirwal

      Jul 8, 2015 at 2:37 pm

      hi, sorry for late reply.
      It will be very difficult to specify any action steps without taking a detailed look at your business. However I must add that before you entirely give up – bring in some expert and let him take a look. or if there are other people in your industry who are successful then you can reach out to them. But don’t take adverse decision without exploring all options.
      Thanks
      Mohinish

  11. Heitem Ak

    Jul 5, 2015 at 4:17 pm

    Great Post!

    “You do not have to see the whole stair case to go up the stairs, just climb one step at a time.”

    Sometimes you can try to jump an additional step or two, but if you do it too often, you’re asking for trouble!

    Heitem Ak

  12. KC Stafford

    Jul 5, 2015 at 3:22 pm

    Great post with good information! Thanks for sharing.

  13. Lisa

    Jul 5, 2015 at 12:51 pm

    Excellent post. I think I will be adding #4 Take a Marketing Course to my list of action items very soon…

  14. Anthony Metivier

    Jul 5, 2015 at 7:43 am

    Wow – great post. These are powerful tips that go beyond the usual.

    Validation is a huge one that I think so many people miss. The question is: How do you validate in baby steps if you’ve only got limited time to get just one part of it off your plate?

    • Mohinish Nirwal

      Jul 8, 2015 at 2:40 pm

      Hi Anthony,
      sorry for late reply.
      If you are not able to take out time for validation part then you can outsource or delegate it. Let your assistant collect all the data but you must do the analysis of it on your own. I hope it helps you.
      Thanks
      Mohinish

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Startups

No One Would Hire Me — Nothing Lasts Forever, Though.

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In 2011, I was down and out. I was defeated and felt like I’d never amount to anything.

This story is going to inspire you if you’ve ever faced a similar situation or felt defeated.

I’d finished working at the startup I founded with my brother and things didn’t look good. I had a dream at that time to utilize my digital marketing skills and work for an advertising agency where I could grow my skills.

Every job I applied for I was turned down.

Even though I’d had digital marketing experience and built a multi-million dollar business using that talent, it wasn’t formal learning or advertising agency experience.

So, I ended up taking a job in finance which I also knew nothing about. I took a junior role and a large pay cut and started my career at a bank. For seven years, on the side, I worked on my passion for social media and online marketing.

Two days ago, I was hired to run the digital marketing team for a well-known tech company with 900 staff. Against all the odds, I won the long game.

Here’s what you can learn:


No one can stop you.

Even with all the no’s and people that laughed at me in 2011, I didn’t stop.

I went into hiding for a while and built my skills. I started with blogging, then SEO, then pay per click and eventually landed in social media.

Just because someone won’t hire you today based on your skills, attitude and experience, doesn’t mean they won’t tomorrow.

In fact, without sounding cocky, people now have been bending over backwards to hire me as a consultant to help them with social media and digital marketing.

“The same people that said no to me now want to work with me”

You decide whether you stop based on rejection — nobody else. Keep going no matter the odds.


Be prepared to wait a few years.

Patience was what made the last two days feel incredible. It took seven years to get what I wanted and I had to be damn patient.

The mistake many of you make who are reading this is that you’re not prepared to wait years to get what you want.

When you accept that it takes years to achieve your goals, you work differently. You prepare yourself in a totally different way.

Wanting things too quickly forces you to sacrifice for the short-term and mess up the long-term. Slow down. Relax. You’ve got time.


It’s your attitude that counts.

When no one will hire you, it’s your attitude that counts.

If you walk into an interview or coffee catchup with an attitude problem, then your career dream is going to continue to be a problem.

You see it on those TV talent shows when a guy/girl walks out onto the stage and has been trying for a long time to make it as a musician. They have this sense of entitlement and their bad attitude is written all over their face.

Don’t be one of these people. Fix your attitude.

You’re only entitled to what you earn. Walk into interviews and face opportunities with a sense of humbleness.

Let humbleness be your dominant attitude and eventually you’ll have more opportunities than you could ever hope for.


Nothing lasts forever.

The no’s I got in 2011 lasted a few years.

The point is they didn’t last forever.
Just because you’re getting no’s today and being laughed at, doesn’t mean that will last forever. Nothing lasts forever including you.

“Keep going until the people that said no to you come around and are half-way towards a yes”

No one can deny you forever. People will admire you if you keep going and learn along the way.

Sometimes we can feel like we’ll always be rejected. That’s how I felt in 2011. I thought to myself “I’ve worked five years in digital marketing and built up a pretty successful business and people are still saying no to me. If not now, when?”

Now let me be honest for a second. I didn’t have the intelligence in 2011 to keep going. I was too dumb and too obsessed with myself. It was basically blind faith that kept me going. I wish I’d known back then that nothing lasts forever and believed it.

There were no mentors, advisors or as much self-help advice as there is now to tell me that the way I was thinking was madness.

You have the opportunity to learn from this lesson. Nothing. Lasts. Forever.


Push through.

When every obstacle there is, is standing in your way, sometimes all you need to do is keep pushing.

The way I did this was to keep writing. No one was paying attention to my advice, but that didn’t matter.

The only strategy I had at the time was to keep doing what felt fun to me and I believed I’d figure out the detail later or just never get paid to do what I liked doing.

Pushing through is about continuing to do the work even when the results don’t show.


Eventually, the odds will change if you change.

So what was missing in 2011? Why was I getting rejected even though I had the skills and experience?

I needed to change.

I was an arrogant, selfish, entitled son of a bitch who wouldn’t give a dime out of a dollar to anyone. I had to change myself.

I had to:

  1. Develop empowering beliefs
  2. Change my attitude
  3. Adopt a never say die mindset
  4. Learn abundance
  5. Give more to strangers
  6. Create value for people first via the internet
  7. Be grateful for what I have instead of always wanting more

Your odds of success won’t change until you change.

“You’re the problem and that’s the hardest advice to swallow”


Final thought.

It’s been a big few days. I’ve waited seven years to get what I want. The hardest thing about getting what you want is that it will feel good for a few weeks, and then you’ll want more.

That’s the crack addiction that comes with personal development.

I’m trying to detox from this addiction and be happy with what I’ve achieved to date.

Maybe no one will hire you today.

Maybe your life sucks right now.

Maybe you’ve dealt with a lot this year.

It’s all okay. Your odds of success will change when you change.

<<<>>>

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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Startups

10 Lessons for Bootstrapping Your Startup to $1M Annual Revenue

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In an entrepreneurial landscape dominated by headlines of unicorn startups and billion-dollar acquisitions, getting a company to $1 million in annual recurring revenue (ARR) may sound like small change. Let’s be real, though, hitting $1 million ARR is an aspirational milestone most young companies can relate to. And it’s not that easy, especially if you’ve secured modest investments or no investment at all.

The software-as-a-service (SaaS) company I work for falls in the latter category. We’ve never raised a single investment dollar, and it took us four years to reach the $1 million ARR threshold. It was a wild four years. Frustrating, fun, scary: you name the emotion, and we’ve felt it.

But more than anything, it was an instructive four years. We learned so much, and we want to share a few helpful tidbits with our peers out there in the trenches, scratching and clawing your way to your next big milestone.

Here are 10 things we think are most important that you can use in your own start-up journey:

1. Don’t quit

Steve Jobs famously said that the difference between those who make it and those who don’t is perseverance. At one point I remember hearing “Folks, I don’t know if we’re going to be here next month.”

It’s frightening not to know where you’re going to be next month, but you have to continuously figure out how to get a few more customers and extend your runway. You can’t “make it” or succeed if you don’t exist, so you can’t quit.

2. Give your customers everything

At the company I work for, Text Request, we spent hours with our customers. We built whatever they asked for (if it fit with our goals and other customers could use it too). We also gave away a lot of free software.

If you want to grow and gain customers, you have to create a needed product that solves your target customers’ problems. Determine who your target customers are, ask them what they need, and then tailor your solutions for them.

3. Try everything you can think of

The book Traction by Gabriel Weinberg and Justin Mares covers 19 sales and marketing channels for startups to test. We tried all of them. We went to events. We advertised. We started a referral program.

For us, cold calls and cold emails worked surprisingly well. We took an industry, looked for companies in a given city, and reached out to set up product demos. Organic search has increasingly helped our sales funnel, too.

Either of those could be the best plan for you, or it could be advertising in a particular channel. Every startup is different and targets a different niche, but you’ll only find successful strategies and channels for growth by testing all your options.

4. Focus on the basics

When you focus on doing the basics, opportunities open up. When you commit to SEO basics, your targets will find you online, and a big fish will occasionally swim by. When you provide fantastic customer service, a few users will leave reviews and tell their friends. When you keep your head down and do the work, eventually you’ll look up and have hit a big milestone.

5. Get the right people on your bus

This is one of the critical lessons from Jim Collins’ Good to Great. Thankfully, our small team had the right people from the beginning. Brian and Jamey Elrod, our husband and wife co-founders, had already started a successful company from scratch (Educational Outfitters). Our third co-founder Rob Reagan has created software for twenty years and published a book last year on building apps for global scale.

Rob brought a couple of top-notch developers with him, and the rest of us showed up determined to figure the business out. If you’re going to take a company from $0 to $1 million, every member of your team has to be dedicated to working together for the long-term benefit of the company over self-interest.

“Coming together is a beginning. Keeping together is progress. Working together is success.” – Henry Ford

There’s always something that keeps entrepreneurs up at night, but you can put the questions below to rest:

1. How do you build it fast enough?

In the early days, we worried about losing a customer because we didn’t have [X]. It was stressful knowing that So-and-So would move on to the next option if we couldn’t deliver fast enough, and many times they did. But that doesn’t matter.

Losing one customer isn’t worth pushing out a faulty product. Despite the pervasive Lean Startup mindset, it’s more important to your customers that you create needed features (read: solutions) that work great the first time. They have to trust that you’ll give them the tools they need to accomplish their goals, or they’ll leave.

2. How do you keep customers longer?

Our support is perhaps our #1 competitive advantage. One of the things we’ve learned is that a lower price, and sometimes even new features, won’t keep customers around longer.

To keep your customers from churning, you’ve got to do two things: First, provide a smooth onboarding process that immediately teaches customers how to gain value (solve their problems) with your product. Otherwise, they won’t pick it up, and they’ll eventually leave.

Second, always be there with kind words and helpful content whenever a customer needs help. If you aren’t, they’ll get frustrated and find someone else to help them.

“People do not care how much you know until they know how much you care.” – Teddy Roosevelt

3. How do you get people to your website?

Advertising might be a good option, but if targets aren’t already thinking about what you can do for them, they probably won’t care about your ad or purchase. Instead, create content to educate viewers and help them solve their problems.

Focus on growing your organic traffic, becoming a trustworthy source, and honing your brand’s voice before spending lots of money on ads.

4. Do you need investment money?

When you’re floating in the middle of the ocean, you’ll do anything for a ship to pick you up. But sometimes you just need to swim. We chose to swim, and you might want to do the same.

When every dollar spent has to fight to prove its worth, you’re inevitably going to build something more valuable and more sustainable. Plus, bootstrapping gives you more control over what decisions you do make to grow your company.

5. How do you pursue 10X growth?

A growth hack is not going to propel you from 100 customers to 10,000 overnight. It doesn’t take one trick, but lots of little and big things working together to create exponential growth. It also takes time.

Instead of looking for a golden goose, create complete and actionable strategies. Those, and a little patience, will help you achieve exponential growth.

Growing your startup to $1 million ARR is not easy, but it’s possible – even without investors lining up to give you money. Put the 10 lessons above into practice, and, with a little time and a lot of work, you’ll get there.

Is there a business you’d like to start or have started? Share your ideas and suggestions for our readers!

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Startups

10 Things The Corporate World *Didn’t* Teach Me

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I’ve just left the corporate world. It’s been seven years and I don’t regret a single second of it.

You’d think I would have learned everything there is to know about business in the corporate world. I didn’t.

There were a lot of gaps which I luckily was able to fill in during my entrepreneur days.

Here’s what the corporate world didn’t teach me:


1. How to think for myself

In the corporate world, you’re often told what to do.

If you don’t have the answer then some smart person, in some department will probably have the answer for you. The answer may not be the latest and greatest strategy, but it will be based on some prior knowledge.

As an entrepreneur, none of this was available to me. I’d roll up to the old Milkbar that was our office, and I’d start stacking boxes into the little van we had. More boxes of soft drink and chips meant more gold coins in our vending machines.

Gold coins could be banked at our local branch at the end of the day and that’s how petrol, electricity, uniforms and the occasional Macca’s dinner was paid for. No one told me how to do that.

I either collected the gold coins, or I didn’t. No gold coins meant game over. As an entrepreneur, that meant failure and during your 20’s that’s often the last thing you want.

Thinking for myself wasn’t taught to me it was a survival tactic. I took this tactic with me to the corporate world and people were surprised.

As my former colleague said to me the other day You don’t overthink Tim youjust get shit done while everybody else is scratching their head.


2. Time management

The corporate world is full of big companies with lots of resources.

With an abundance of anything you always have wastage. The corporate world definitely didn’t tell me how to manage time.

What could have been a five-minute phone conversation often ended up in huge email chains. It was a bit of a game.

“Every email involved another person or persons being cc’d. The ultimate trick was to blind cc people within your company. Like magic, bombs start going off and no one can work out who did what. That’s the power of BCC”

None of this was good for time management though. Lot’s of time was spent trying to communicate with one another. Meetings are a thing in the corporate world.

Every problem that exists must have a meeting. Even if it’s about whether we call the shared folder “Sales” or “Customer Files” a meeting had to be held.

Meetings in the corporate world not only suck up time but are also a fashion parade where all the biggest egos can strut their stuff.

“I’m more important and have a better job title.”

“No, I’m more important!”

This dialogue goes on for days and sometimes months. Understanding the politics is often more critical than understanding the business. Still, none of this is good for time.

The time wasted is used by the tech startup opposition to improve a bug, rethink the customer experience or out-market corporates using social media.


3. A passion for what you love

Passion in the corporate world can often be lacking. Working at a corporate for many is a way to pay the bills rather than do their life’s work.

Passion can often be traded for money, bonuses and even more impressive job titles — all of which leave you feeling more empty”

It’s not all full of zero passion, though. There are a few people that are insanely passionate and those folk shine through.

The corporate world taught me to put my passion on hold rather than use it to WOW customers with the very thing that sets me apart.


4. What people are really buying

Working at a corporate taught me that it’s all about marketing.

I knew, though, from the startup world that this very idea was wrong.

People are buying you. They’re buying the people they deal with and what those people stand for.

No client in my corporate career ever gave a damn about the commoditized products I was selling. All of my clients gave a damn about my obsession to inspire the world through personal development and entrepreneurship. They were intrigued by my five years as an entrepreneur and what I learned.

This led to customers becoming friends as opposed to people that bought widgets from me and had the money they laid tracked in a CRM as ‘revenue.’

Not once in my corporate career did I have something to sell that couldn’t be bought from somewhere else, at a lower price or with better product features. The product feature my clients bought was me


5. The power of an audience

People are often too afraid to be vulnerable in the corporate world.

I never learned the power of an audience during my career working in corporates. All of that was learned between 6 pm and 8 pm every night when I was at home from work posting on LinkedIn.

Social media is not so prominent in the corporate world because it requires you to remove the corporate mask and show your flaws. Fakeness on social channels like LinkedIn just doesn’t work. People don’t engage.

Many people told me that the audience I was building on social media was career suicide. I ignored every one of them and I’m so glad I did.

These same people that warned me to stay off social media are the same ones asking me now to help them with their own social accounts.

With an audience, you can test ideas.

With an audience, you can inspire.

With an audience, you can recruit people to your team.

With an audience, you derive meaning for your life.


6. Doing the important vs. the mediocre

In corporate business, there’s a lot of noise.

Everything looks important. Everything looks like it could become a lawsuit (especially for a corporate). Everything looks like it could become a PR scandal. Everything looks risky to that next job promotion and to the business.

That’s where mediocrity thrives. With so much noise it’s easy to spend your days filing bits of paper or moving widgets from Point A to Point B without having any clue of why you’re doing it or how it contributes to humankind.

I didn’t learn the discipline of doing the important work in corporate life.

Doing the important came out of the entrepreneurial trait of problem-solving through a vision. It came from wanting to see things better than they are.

Doing the important was fuelled by a desire to achieve a goal that everybody said wasn’t possible. It’s a rebellious philosophy that pushes mediocrity the hell out of the way.


7. The way to have a meeting (ideally no meeting)

Running a meeting in corporate life follows a formula.

This formula will put almost all attendees to sleep. It’s why when you walk into a corporate board meeting, most of the execs are looking at their phone rather than paying attention to who’s speaking.

The formula goes like this:

  • Introduce everybody in the meeting (most don’t need to be there)
  • Pretend there’s an agenda (it will get hijacked…guaranteed)
  • Pretend to solve the problem by agreeing to invite more people to a future meeting
  • Pass ownership around of the problem whilst ignoring the potential solutions
  • Assigning action items which everybody ignores (thus triggering another meeting)

“The best way to have a meeting is not to have a meeting”

Meetings are needed in the corporate world because of a lack of trust and having too many cooks in the kitchen.

Have only the people that can solve the problem in the meeting, make it short and trust in the outcome and vision you’re trying to achieve.

That very philosophy makes meetings for the most part irrelevant.


8. How to make better PowerPoint presentations

You’d think with all the PowerPoints you have to do in the corporate world to educate internal stakeholders, you’d be a freaking expert at doing them.

Quite the opposite is true.

Because of the number of PowerPoint decks you have to do in the corporate world, you get worse at them.

The decks get longer, filled with more words, more acronyms and more promises to take more action.

It’s like for every year in the corporate world you add another acronym to the sentence you’re currently writing.

The belief in the corporate world is that all problems must first begin their life in a PowerPoint.

No problem can be solved without a PowerPoint. I once tried to do a presentation with only one slide. Once I explained the one slide I had prepared with a simple diagram that a four-year-old watching Peppa Pig could understand, I then blacked out the screen.

I wanted the attention on what I was saying instead of some Times New Roman, white slide, with Size 12 Font that nobody could read.

Death by PowerPoint is a real cause of death in the corporate world. It kills dreams, ideas, free speech and the will to live.


9. The way to treat people

The corporate world taught me nothing about how to treat people.

Treating people well came from my eBay days where I learned that if you give someone on eBay the thing they want, and do what you say, you’ll get what you want.

This philosophy didn’t translate into corporate life. I was told to treat people well based on what they could do for me. If they couldn’t do anything for me then what’s the point of knowing them? Right?

Wrong.

The people I treated well who seemed to have no benefit to me ended up becoming the Managers, General Managers and Inspiring Leaders five years down the road.

By not asking for stuff all the time, by treating these future leaders with respect and by being as close to a good human being as I could be, I got all the promotions and all the hard to reach opportunities.

My career in the corporate world looked like it was entirely built by luck. It wasn’t. My corporate career was built on respect, honesty and treating people well because it makes sense in the long run.


10. The true meaning of startup buzzwords

Lean startup. Agile. Disruptive. Act like a startup. Minimum viable product.

We hear these words every day in the startup and tech world. Every corporate is trying to adopt them as their own. I didn’t see any of these buzzwords in my corporate career ever be used successfully.

Lean startup meant Throw seven figures at it and see if it swims. If not, kill it fast!”

Agile meant plan the next five years of a new product, try to deal with every possible situation in the beginning and invite some management consultants.

Act like a startup meant adopt the word but still be a corporate because a sizeable business always knows best.

Minimum viable product meant fix every customer pain point in existence and build the mother of all solutions that’s going to take years to build and leave all competitors for dead. Let’s not fix one thing when we can fix everything thus fixing nothing in the process.


So what can you learn from the corporate world?

It’s not all bad. Park my humor for just one second. You can learn plenty in the corporate world and it’s not all bad.

The corporate world can teach you:

1. Leadership fundamentals

2. Corporate decision-making

3. Community values

4. The rate of technology disruption

The corporate world in some ways shows you what the past looks like so you can build the future. It shows you that size does not necessarily mean better results or more improved solutions.

What I’ve outlined above comes from dealing with hundreds of corporates over the last seven years and the commonalities around how they think.


The grass is not greener.

The corporate world sure has its problems. So does the startup world. So does medium sized business as well.

All business just has a different set of problems to solve.

The way to deal with this conundrum is to become an expert problem solver who enjoys the challenge. It’s not always easy to do.

The business world can get you down and suck the life out of you.

That’s why you need to take a break and get some perspective. Try small, medium and big business for yourself and make your own assessment.

The grass may be longer, shorter or in need of a mow but it’s definitely not greener.

<<<>>>

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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Startups

How to Change Your Bad Habits for the Benefit of Your Business

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If you are like most people, you probably like to complain from time to time about the economy, about the markets, about how things are changing too fast or how you don’t get enough time. Moan moan moan!

However, moaning doesn’t solve problems. Instead, you can follow the “No BCD” theory and avoid blaming, complaining and defensiveness. This way you will have a totally different outlook, handle situations a lot better, and take control over your destiny. A really practical way to do this is to develop better habits.

What are the bad habits you have?

Everyone has different bad habits, but when it comes to business here are the 4 most common ones:

  • Lack of focus: Every single day, there are going to be things you intend to do and then you “run out of time” or succumb to distractions. But if you’re honest, you had the time and there was a way – you just lacked focus.
  • You’re too kind: How many times have you taken on a project which wasn’t profitable, because you “felt sorry for them”. Not only does this actually hurt you, but it also in many ways hurts the relationship you have with that client or customer.
  • Promising and not delivering: Whether it’s something you said to your team, your clients, or your suppliers, if you’re not matching your words with your actions, over time others will believe you less and less.
  • Leaving opportunities on the table: So often people complain in business they don’t have enough (money/sales/support), when actually they do – they just didn’t ask for it. Within your existing network there is probably everything you need, you just have to ask.

“Successful people are simply those with successful habits.” – Brian Tracy

Think about it. You can look at each of these bad habits and replace them with new and better ones. Imagine…

  • If you created habits that made you focus better: you’d be more productive, with the same amount of time.
  • If you learned good ways to set boundaries: you’d have a better time delivering your services or products, and you’d feel more rewarded.
  • If you kept better track of your promises: You’d feel less stressed and overwhelmed.
  • If you picked up on more of those opportunities: You’d make more money, and inject welcome energy into those who are ready and willing to work with you. The side effect would be that you could delegate things you don’t love and aren’t good at to others more capable, and replace those activities with the things you love!

Breaking those bad habits

Over the years, I have managed to create more boundaries and space for me to be efficient and effective in my work. There are ways to do that  – some habits I have learned from others who have experienced and overcome similar issues, and some are the product of my own experiments. See below!

1. Sprints (for productivity)

I have to say this is so effective. I meet at least one other person at a coffee shop or members club – if it’s not in my office with my fellow team members. We plan to do 30 or 45 minutes of work and do between 3-5 sprints in a session. Blocking out 4 hours together I find works well.

We each say what we will work on and then we get going. No talking allowed, focusing only on the task we talked about. When the timer rings we stop, compare notes on progress, have a mini break and do another one. It’s honestly my most productive time, and it makes you realise how much time we waste on distractions and even moaning about having too much work on!

“A bad habit never disappears miraculously. It’s an undo-it-yourself project.” – Abigail Van Buren

2. A tiny assignment (for motivation to break a bad habit)

I have done this now twice with 2 different friends. We talk about the bad habits we each have, whatever they might be. We give each other a new rule or habit to follow over a two week period. It has to be a “SMART” goal assignment – specific, measurable, achievable, realistic and time-bound.

3. Low hanging fruit (for grabbing opportunities)

You simply make a list of people you already know who:

  • Fit into your target market but don’t work with you yet
  • Fit into your target market but haven’t worked with you for a while
  • Experience problems you know you can solve
  • Have their own network of contacts or audience which is very similar to the people you want to talk about
  • Have the expertise in things you find challenging, and very likely the answers to your current challenges

Once you have this list, you come up with some drafted initial outreach scripts for either text, email or phone calls and then you work through your list – sending out the requests, hellos, questions, etc. If you draft your communication well, considering the mindset of the people who are receiving these outreach messages, you will find each conversation will be at the very least a learning opportunity and would certainly lead to more “yeses” than if you didn’t do this exercise.

4. The minimum criteria (for setting boundaries)

If you find that your bad habits involve you saying “yes” too often when you should be saying “no” – then this one works great. You just need to write a specific list of criteria to answer the question “Any time I will do this, I need the following things to be true first”.

For example, you only take on a client who pays less than a certain minimum threshold, who has made a written commitment that they will comply with your specific set of guidelines for their responsibilities during the project. There are so many ways you can use the “minimum criteria” technique and you can share your rules with friends and colleagues to hold yourself accountable.

Now, with all this insight I hope you feel more motivated and you can’t even remember your excuses anymore!

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Life

Lacking Self-Discipline? Do This One Thing Everyday to Change Your Life

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What’s holding you back? This is the question that I asked myself after repeatedly falling short of my goals. In my mind, I had these crazy hopes and aspirations, but in reality, there was a gap between my intentions and my actions. Having read dozens of personal development and business books, I already had the knowledge. I already knew what I needed to do. The problem? A lack of follow through. (more…)

Mo Saleem is an independent men’s health researcher and publisher of TripleYourT.com. Having overcome the symptoms of depression, chronic fatigue, and a lack of drive, his mission is to empower men with the strategies and tactics to live with more energy, purpose, and power. Use the FREE T-Analysis Tool to figure out if your testosterone level is where it should be.

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22 Comments

22 Comments

  1. satish

    Aug 12, 2015 at 12:00 pm

    Hi,

    when I first start reading your article I was shocked because it seems like I am reading my story from starting.

    All the condition , situation you have mentioned is totally right.

    Your article give me boost to take one step forward to fulfill my dreams.

    Thanks.

    • Mohinish Nirwal

      Aug 13, 2015 at 2:35 am

      I am glad Satish you are moving forward with your dreams..
      Thanks.

  2. Britney

    Jul 12, 2015 at 9:42 pm

    Great post! Thank you for sharing. I applaud your courage to pursue your true passions. My favorite points are #3 and #5. Being a 2014 college graduate, I quickly learned that life learning never stops. As you stated, a person must stay humble to continue to learn and grow. I wish you much continued success!!

    • Mohinish Nirwal

      Jul 13, 2015 at 1:38 am

      thanks Britney,
      I appreciate your attitude.
      thanks
      Mohinish

  3. Tony Kates

    Jul 8, 2015 at 1:49 pm

    I agree with every item on the list especially #3 “Winners are students throughout life”. The only way to win is to learn and the bigger lessons are learned when we failed which means you have to go out there, keep on trying, keep developing yourself and learn from everything.

    • Mohinish Nirwal

      Jul 9, 2015 at 2:32 am

      hello Tony,
      You are spot on. Winners are always on learning curve. And it usually not one subject.. Your thoughts?
      Thanks
      Mohinish

  4. Heather

    Jul 7, 2015 at 2:58 pm

    Hi Mohinish,
    Great post – lots to think about. I’ve run my own small consultancy for nearly 7 years now and can definitely say that #3 – continuing to be a student – has been key in helping me to build the business and adapt to different challenges and opportunities that have come my way.

    I couldn’t start small and build – I had to just make the leap – because my freelance business was in direct competition to what I did as an employee. And I certainly didn’t have 2 years savings as a cushion – although I did have around 6 months. Now I’m in the process of starting a new business, so it is slightly ‘back to the drawing board’. I came across your post at good time!

    Thanks,
    Heather

    • Mohinish Nirwal

      Jul 8, 2015 at 2:09 am

      well good luck for you new endeavor Heather.
      Thanks
      Mohinish

  5. David

    Jul 6, 2015 at 5:19 pm

    Great post thanks!

  6. bestessaysforsale.net

    Jul 6, 2015 at 12:37 pm

    I read this article and must admit it is really great! Thank you for your job!

  7. Radzone

    Jul 6, 2015 at 12:35 pm

    Your post was a great one to look at first thing on a Monday morning. It helps keep the dreams alive. Only one point that I “might” take exception with – it’s the point of having a 2-year cushion since most endeavours take about that long to get going. It’s true it might take that long, but having a fallback plan may allow some to cruise through the plan because there isn’t a sense of emergency. As Hernán Cortés said in 1519 – “Burn the Boats!”. I say go for it.

    • Mohinish Nirwal

      Jul 8, 2015 at 2:13 am

      Yeah I agree with that Radzone, but sometimes when people have to put food on the table they need to have savings. Secure the food part and unleash yourself in other. You can have passive sources of income also.
      Best wishes
      Mohinish

  8. Esther

    Jul 6, 2015 at 8:03 am

    Hi Nirwal,

    Thank you so much for this great post!

    I mostly hear about validation with your future prospects. But it is so true what you write, learning from those who are already successful in what you want to do can be priceless.

    But not everybody dears to reach out to experts. Which brings me to the point that having the right mindset is crucial throughout the 7 points you described.

    What do you think?

    Cheers,

    Esther

    • Mohinish Nirwal

      Jul 8, 2015 at 2:16 am

      Yeah whenever we reach out of our comfort zone our palms are sweaty. But with right mindset and courage an entrepreneur moves forward.
      Thanks
      Mohinish

  9. Dr.Manu

    Jul 6, 2015 at 7:00 am

    Great post and practical approach…Thank you

  10. willy braun

    Jul 6, 2015 at 6:33 am

    Great post

    Love reading the articles

    I have a question.

    What if you already started a business love it too but you didn’t take the these steps and now you find out that the water is way deeper then expected and it’s really hard to keep going. Is it possible to still come up from under it and become successful?
    And what would be most important steps to take?

    • Mohinish Nirwal

      Jul 8, 2015 at 2:37 pm

      hi, sorry for late reply.
      It will be very difficult to specify any action steps without taking a detailed look at your business. However I must add that before you entirely give up – bring in some expert and let him take a look. or if there are other people in your industry who are successful then you can reach out to them. But don’t take adverse decision without exploring all options.
      Thanks
      Mohinish

  11. Heitem Ak

    Jul 5, 2015 at 4:17 pm

    Great Post!

    “You do not have to see the whole stair case to go up the stairs, just climb one step at a time.”

    Sometimes you can try to jump an additional step or two, but if you do it too often, you’re asking for trouble!

    Heitem Ak

  12. KC Stafford

    Jul 5, 2015 at 3:22 pm

    Great post with good information! Thanks for sharing.

  13. Lisa

    Jul 5, 2015 at 12:51 pm

    Excellent post. I think I will be adding #4 Take a Marketing Course to my list of action items very soon…

  14. Anthony Metivier

    Jul 5, 2015 at 7:43 am

    Wow – great post. These are powerful tips that go beyond the usual.

    Validation is a huge one that I think so many people miss. The question is: How do you validate in baby steps if you’ve only got limited time to get just one part of it off your plate?

    • Mohinish Nirwal

      Jul 8, 2015 at 2:40 pm

      Hi Anthony,
      sorry for late reply.
      If you are not able to take out time for validation part then you can outsource or delegate it. Let your assistant collect all the data but you must do the analysis of it on your own. I hope it helps you.
      Thanks
      Mohinish

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Startups

No One Would Hire Me — Nothing Lasts Forever, Though.

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In 2011, I was down and out. I was defeated and felt like I’d never amount to anything.

This story is going to inspire you if you’ve ever faced a similar situation or felt defeated.

I’d finished working at the startup I founded with my brother and things didn’t look good. I had a dream at that time to utilize my digital marketing skills and work for an advertising agency where I could grow my skills.

Every job I applied for I was turned down.

Even though I’d had digital marketing experience and built a multi-million dollar business using that talent, it wasn’t formal learning or advertising agency experience.

So, I ended up taking a job in finance which I also knew nothing about. I took a junior role and a large pay cut and started my career at a bank. For seven years, on the side, I worked on my passion for social media and online marketing.

Two days ago, I was hired to run the digital marketing team for a well-known tech company with 900 staff. Against all the odds, I won the long game.

Here’s what you can learn:


No one can stop you.

Even with all the no’s and people that laughed at me in 2011, I didn’t stop.

I went into hiding for a while and built my skills. I started with blogging, then SEO, then pay per click and eventually landed in social media.

Just because someone won’t hire you today based on your skills, attitude and experience, doesn’t mean they won’t tomorrow.

In fact, without sounding cocky, people now have been bending over backwards to hire me as a consultant to help them with social media and digital marketing.

“The same people that said no to me now want to work with me”

You decide whether you stop based on rejection — nobody else. Keep going no matter the odds.


Be prepared to wait a few years.

Patience was what made the last two days feel incredible. It took seven years to get what I wanted and I had to be damn patient.

The mistake many of you make who are reading this is that you’re not prepared to wait years to get what you want.

When you accept that it takes years to achieve your goals, you work differently. You prepare yourself in a totally different way.

Wanting things too quickly forces you to sacrifice for the short-term and mess up the long-term. Slow down. Relax. You’ve got time.


It’s your attitude that counts.

When no one will hire you, it’s your attitude that counts.

If you walk into an interview or coffee catchup with an attitude problem, then your career dream is going to continue to be a problem.

You see it on those TV talent shows when a guy/girl walks out onto the stage and has been trying for a long time to make it as a musician. They have this sense of entitlement and their bad attitude is written all over their face.

Don’t be one of these people. Fix your attitude.

You’re only entitled to what you earn. Walk into interviews and face opportunities with a sense of humbleness.

Let humbleness be your dominant attitude and eventually you’ll have more opportunities than you could ever hope for.


Nothing lasts forever.

The no’s I got in 2011 lasted a few years.

The point is they didn’t last forever.
Just because you’re getting no’s today and being laughed at, doesn’t mean that will last forever. Nothing lasts forever including you.

“Keep going until the people that said no to you come around and are half-way towards a yes”

No one can deny you forever. People will admire you if you keep going and learn along the way.

Sometimes we can feel like we’ll always be rejected. That’s how I felt in 2011. I thought to myself “I’ve worked five years in digital marketing and built up a pretty successful business and people are still saying no to me. If not now, when?”

Now let me be honest for a second. I didn’t have the intelligence in 2011 to keep going. I was too dumb and too obsessed with myself. It was basically blind faith that kept me going. I wish I’d known back then that nothing lasts forever and believed it.

There were no mentors, advisors or as much self-help advice as there is now to tell me that the way I was thinking was madness.

You have the opportunity to learn from this lesson. Nothing. Lasts. Forever.


Push through.

When every obstacle there is, is standing in your way, sometimes all you need to do is keep pushing.

The way I did this was to keep writing. No one was paying attention to my advice, but that didn’t matter.

The only strategy I had at the time was to keep doing what felt fun to me and I believed I’d figure out the detail later or just never get paid to do what I liked doing.

Pushing through is about continuing to do the work even when the results don’t show.


Eventually, the odds will change if you change.

So what was missing in 2011? Why was I getting rejected even though I had the skills and experience?

I needed to change.

I was an arrogant, selfish, entitled son of a bitch who wouldn’t give a dime out of a dollar to anyone. I had to change myself.

I had to:

  1. Develop empowering beliefs
  2. Change my attitude
  3. Adopt a never say die mindset
  4. Learn abundance
  5. Give more to strangers
  6. Create value for people first via the internet
  7. Be grateful for what I have instead of always wanting more

Your odds of success won’t change until you change.

“You’re the problem and that’s the hardest advice to swallow”


Final thought.

It’s been a big few days. I’ve waited seven years to get what I want. The hardest thing about getting what you want is that it will feel good for a few weeks, and then you’ll want more.

That’s the crack addiction that comes with personal development.

I’m trying to detox from this addiction and be happy with what I’ve achieved to date.

Maybe no one will hire you today.

Maybe your life sucks right now.

Maybe you’ve dealt with a lot this year.

It’s all okay. Your odds of success will change when you change.

<<<>>>

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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Startups

10 Lessons for Bootstrapping Your Startup to $1M Annual Revenue

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In an entrepreneurial landscape dominated by headlines of unicorn startups and billion-dollar acquisitions, getting a company to $1 million in annual recurring revenue (ARR) may sound like small change. Let’s be real, though, hitting $1 million ARR is an aspirational milestone most young companies can relate to. And it’s not that easy, especially if you’ve secured modest investments or no investment at all.

The software-as-a-service (SaaS) company I work for falls in the latter category. We’ve never raised a single investment dollar, and it took us four years to reach the $1 million ARR threshold. It was a wild four years. Frustrating, fun, scary: you name the emotion, and we’ve felt it.

But more than anything, it was an instructive four years. We learned so much, and we want to share a few helpful tidbits with our peers out there in the trenches, scratching and clawing your way to your next big milestone.

Here are 10 things we think are most important that you can use in your own start-up journey:

1. Don’t quit

Steve Jobs famously said that the difference between those who make it and those who don’t is perseverance. At one point I remember hearing “Folks, I don’t know if we’re going to be here next month.”

It’s frightening not to know where you’re going to be next month, but you have to continuously figure out how to get a few more customers and extend your runway. You can’t “make it” or succeed if you don’t exist, so you can’t quit.

2. Give your customers everything

At the company I work for, Text Request, we spent hours with our customers. We built whatever they asked for (if it fit with our goals and other customers could use it too). We also gave away a lot of free software.

If you want to grow and gain customers, you have to create a needed product that solves your target customers’ problems. Determine who your target customers are, ask them what they need, and then tailor your solutions for them.

3. Try everything you can think of

The book Traction by Gabriel Weinberg and Justin Mares covers 19 sales and marketing channels for startups to test. We tried all of them. We went to events. We advertised. We started a referral program.

For us, cold calls and cold emails worked surprisingly well. We took an industry, looked for companies in a given city, and reached out to set up product demos. Organic search has increasingly helped our sales funnel, too.

Either of those could be the best plan for you, or it could be advertising in a particular channel. Every startup is different and targets a different niche, but you’ll only find successful strategies and channels for growth by testing all your options.

4. Focus on the basics

When you focus on doing the basics, opportunities open up. When you commit to SEO basics, your targets will find you online, and a big fish will occasionally swim by. When you provide fantastic customer service, a few users will leave reviews and tell their friends. When you keep your head down and do the work, eventually you’ll look up and have hit a big milestone.

5. Get the right people on your bus

This is one of the critical lessons from Jim Collins’ Good to Great. Thankfully, our small team had the right people from the beginning. Brian and Jamey Elrod, our husband and wife co-founders, had already started a successful company from scratch (Educational Outfitters). Our third co-founder Rob Reagan has created software for twenty years and published a book last year on building apps for global scale.

Rob brought a couple of top-notch developers with him, and the rest of us showed up determined to figure the business out. If you’re going to take a company from $0 to $1 million, every member of your team has to be dedicated to working together for the long-term benefit of the company over self-interest.

“Coming together is a beginning. Keeping together is progress. Working together is success.” – Henry Ford

There’s always something that keeps entrepreneurs up at night, but you can put the questions below to rest:

1. How do you build it fast enough?

In the early days, we worried about losing a customer because we didn’t have [X]. It was stressful knowing that So-and-So would move on to the next option if we couldn’t deliver fast enough, and many times they did. But that doesn’t matter.

Losing one customer isn’t worth pushing out a faulty product. Despite the pervasive Lean Startup mindset, it’s more important to your customers that you create needed features (read: solutions) that work great the first time. They have to trust that you’ll give them the tools they need to accomplish their goals, or they’ll leave.

2. How do you keep customers longer?

Our support is perhaps our #1 competitive advantage. One of the things we’ve learned is that a lower price, and sometimes even new features, won’t keep customers around longer.

To keep your customers from churning, you’ve got to do two things: First, provide a smooth onboarding process that immediately teaches customers how to gain value (solve their problems) with your product. Otherwise, they won’t pick it up, and they’ll eventually leave.

Second, always be there with kind words and helpful content whenever a customer needs help. If you aren’t, they’ll get frustrated and find someone else to help them.

“People do not care how much you know until they know how much you care.” – Teddy Roosevelt

3. How do you get people to your website?

Advertising might be a good option, but if targets aren’t already thinking about what you can do for them, they probably won’t care about your ad or purchase. Instead, create content to educate viewers and help them solve their problems.

Focus on growing your organic traffic, becoming a trustworthy source, and honing your brand’s voice before spending lots of money on ads.

4. Do you need investment money?

When you’re floating in the middle of the ocean, you’ll do anything for a ship to pick you up. But sometimes you just need to swim. We chose to swim, and you might want to do the same.

When every dollar spent has to fight to prove its worth, you’re inevitably going to build something more valuable and more sustainable. Plus, bootstrapping gives you more control over what decisions you do make to grow your company.

5. How do you pursue 10X growth?

A growth hack is not going to propel you from 100 customers to 10,000 overnight. It doesn’t take one trick, but lots of little and big things working together to create exponential growth. It also takes time.

Instead of looking for a golden goose, create complete and actionable strategies. Those, and a little patience, will help you achieve exponential growth.

Growing your startup to $1 million ARR is not easy, but it’s possible – even without investors lining up to give you money. Put the 10 lessons above into practice, and, with a little time and a lot of work, you’ll get there.

Is there a business you’d like to start or have started? Share your ideas and suggestions for our readers!

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10 Things The Corporate World *Didn’t* Teach Me

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I’ve just left the corporate world. It’s been seven years and I don’t regret a single second of it.

You’d think I would have learned everything there is to know about business in the corporate world. I didn’t.

There were a lot of gaps which I luckily was able to fill in during my entrepreneur days.

Here’s what the corporate world didn’t teach me:


1. How to think for myself

In the corporate world, you’re often told what to do.

If you don’t have the answer then some smart person, in some department will probably have the answer for you. The answer may not be the latest and greatest strategy, but it will be based on some prior knowledge.

As an entrepreneur, none of this was available to me. I’d roll up to the old Milkbar that was our office, and I’d start stacking boxes into the little van we had. More boxes of soft drink and chips meant more gold coins in our vending machines.

Gold coins could be banked at our local branch at the end of the day and that’s how petrol, electricity, uniforms and the occasional Macca’s dinner was paid for. No one told me how to do that.

I either collected the gold coins, or I didn’t. No gold coins meant game over. As an entrepreneur, that meant failure and during your 20’s that’s often the last thing you want.

Thinking for myself wasn’t taught to me it was a survival tactic. I took this tactic with me to the corporate world and people were surprised.

As my former colleague said to me the other day You don’t overthink Tim youjust get shit done while everybody else is scratching their head.


2. Time management

The corporate world is full of big companies with lots of resources.

With an abundance of anything you always have wastage. The corporate world definitely didn’t tell me how to manage time.

What could have been a five-minute phone conversation often ended up in huge email chains. It was a bit of a game.

“Every email involved another person or persons being cc’d. The ultimate trick was to blind cc people within your company. Like magic, bombs start going off and no one can work out who did what. That’s the power of BCC”

None of this was good for time management though. Lot’s of time was spent trying to communicate with one another. Meetings are a thing in the corporate world.

Every problem that exists must have a meeting. Even if it’s about whether we call the shared folder “Sales” or “Customer Files” a meeting had to be held.

Meetings in the corporate world not only suck up time but are also a fashion parade where all the biggest egos can strut their stuff.

“I’m more important and have a better job title.”

“No, I’m more important!”

This dialogue goes on for days and sometimes months. Understanding the politics is often more critical than understanding the business. Still, none of this is good for time.

The time wasted is used by the tech startup opposition to improve a bug, rethink the customer experience or out-market corporates using social media.


3. A passion for what you love

Passion in the corporate world can often be lacking. Working at a corporate for many is a way to pay the bills rather than do their life’s work.

Passion can often be traded for money, bonuses and even more impressive job titles — all of which leave you feeling more empty”

It’s not all full of zero passion, though. There are a few people that are insanely passionate and those folk shine through.

The corporate world taught me to put my passion on hold rather than use it to WOW customers with the very thing that sets me apart.


4. What people are really buying

Working at a corporate taught me that it’s all about marketing.

I knew, though, from the startup world that this very idea was wrong.

People are buying you. They’re buying the people they deal with and what those people stand for.

No client in my corporate career ever gave a damn about the commoditized products I was selling. All of my clients gave a damn about my obsession to inspire the world through personal development and entrepreneurship. They were intrigued by my five years as an entrepreneur and what I learned.

This led to customers becoming friends as opposed to people that bought widgets from me and had the money they laid tracked in a CRM as ‘revenue.’

Not once in my corporate career did I have something to sell that couldn’t be bought from somewhere else, at a lower price or with better product features. The product feature my clients bought was me


5. The power of an audience

People are often too afraid to be vulnerable in the corporate world.

I never learned the power of an audience during my career working in corporates. All of that was learned between 6 pm and 8 pm every night when I was at home from work posting on LinkedIn.

Social media is not so prominent in the corporate world because it requires you to remove the corporate mask and show your flaws. Fakeness on social channels like LinkedIn just doesn’t work. People don’t engage.

Many people told me that the audience I was building on social media was career suicide. I ignored every one of them and I’m so glad I did.

These same people that warned me to stay off social media are the same ones asking me now to help them with their own social accounts.

With an audience, you can test ideas.

With an audience, you can inspire.

With an audience, you can recruit people to your team.

With an audience, you derive meaning for your life.


6. Doing the important vs. the mediocre

In corporate business, there’s a lot of noise.

Everything looks important. Everything looks like it could become a lawsuit (especially for a corporate). Everything looks like it could become a PR scandal. Everything looks risky to that next job promotion and to the business.

That’s where mediocrity thrives. With so much noise it’s easy to spend your days filing bits of paper or moving widgets from Point A to Point B without having any clue of why you’re doing it or how it contributes to humankind.

I didn’t learn the discipline of doing the important work in corporate life.

Doing the important came out of the entrepreneurial trait of problem-solving through a vision. It came from wanting to see things better than they are.

Doing the important was fuelled by a desire to achieve a goal that everybody said wasn’t possible. It’s a rebellious philosophy that pushes mediocrity the hell out of the way.


7. The way to have a meeting (ideally no meeting)

Running a meeting in corporate life follows a formula.

This formula will put almost all attendees to sleep. It’s why when you walk into a corporate board meeting, most of the execs are looking at their phone rather than paying attention to who’s speaking.

The formula goes like this:

  • Introduce everybody in the meeting (most don’t need to be there)
  • Pretend there’s an agenda (it will get hijacked…guaranteed)
  • Pretend to solve the problem by agreeing to invite more people to a future meeting
  • Pass ownership around of the problem whilst ignoring the potential solutions
  • Assigning action items which everybody ignores (thus triggering another meeting)

“The best way to have a meeting is not to have a meeting”

Meetings are needed in the corporate world because of a lack of trust and having too many cooks in the kitchen.

Have only the people that can solve the problem in the meeting, make it short and trust in the outcome and vision you’re trying to achieve.

That very philosophy makes meetings for the most part irrelevant.


8. How to make better PowerPoint presentations

You’d think with all the PowerPoints you have to do in the corporate world to educate internal stakeholders, you’d be a freaking expert at doing them.

Quite the opposite is true.

Because of the number of PowerPoint decks you have to do in the corporate world, you get worse at them.

The decks get longer, filled with more words, more acronyms and more promises to take more action.

It’s like for every year in the corporate world you add another acronym to the sentence you’re currently writing.

The belief in the corporate world is that all problems must first begin their life in a PowerPoint.

No problem can be solved without a PowerPoint. I once tried to do a presentation with only one slide. Once I explained the one slide I had prepared with a simple diagram that a four-year-old watching Peppa Pig could understand, I then blacked out the screen.

I wanted the attention on what I was saying instead of some Times New Roman, white slide, with Size 12 Font that nobody could read.

Death by PowerPoint is a real cause of death in the corporate world. It kills dreams, ideas, free speech and the will to live.


9. The way to treat people

The corporate world taught me nothing about how to treat people.

Treating people well came from my eBay days where I learned that if you give someone on eBay the thing they want, and do what you say, you’ll get what you want.

This philosophy didn’t translate into corporate life. I was told to treat people well based on what they could do for me. If they couldn’t do anything for me then what’s the point of knowing them? Right?

Wrong.

The people I treated well who seemed to have no benefit to me ended up becoming the Managers, General Managers and Inspiring Leaders five years down the road.

By not asking for stuff all the time, by treating these future leaders with respect and by being as close to a good human being as I could be, I got all the promotions and all the hard to reach opportunities.

My career in the corporate world looked like it was entirely built by luck. It wasn’t. My corporate career was built on respect, honesty and treating people well because it makes sense in the long run.


10. The true meaning of startup buzzwords

Lean startup. Agile. Disruptive. Act like a startup. Minimum viable product.

We hear these words every day in the startup and tech world. Every corporate is trying to adopt them as their own. I didn’t see any of these buzzwords in my corporate career ever be used successfully.

Lean startup meant Throw seven figures at it and see if it swims. If not, kill it fast!”

Agile meant plan the next five years of a new product, try to deal with every possible situation in the beginning and invite some management consultants.

Act like a startup meant adopt the word but still be a corporate because a sizeable business always knows best.

Minimum viable product meant fix every customer pain point in existence and build the mother of all solutions that’s going to take years to build and leave all competitors for dead. Let’s not fix one thing when we can fix everything thus fixing nothing in the process.


So what can you learn from the corporate world?

It’s not all bad. Park my humor for just one second. You can learn plenty in the corporate world and it’s not all bad.

The corporate world can teach you:

1. Leadership fundamentals

2. Corporate decision-making

3. Community values

4. The rate of technology disruption

The corporate world in some ways shows you what the past looks like so you can build the future. It shows you that size does not necessarily mean better results or more improved solutions.

What I’ve outlined above comes from dealing with hundreds of corporates over the last seven years and the commonalities around how they think.


The grass is not greener.

The corporate world sure has its problems. So does the startup world. So does medium sized business as well.

All business just has a different set of problems to solve.

The way to deal with this conundrum is to become an expert problem solver who enjoys the challenge. It’s not always easy to do.

The business world can get you down and suck the life out of you.

That’s why you need to take a break and get some perspective. Try small, medium and big business for yourself and make your own assessment.

The grass may be longer, shorter or in need of a mow but it’s definitely not greener.

<<<>>>

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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How to Change Your Bad Habits for the Benefit of Your Business

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If you are like most people, you probably like to complain from time to time about the economy, about the markets, about how things are changing too fast or how you don’t get enough time. Moan moan moan!

However, moaning doesn’t solve problems. Instead, you can follow the “No BCD” theory and avoid blaming, complaining and defensiveness. This way you will have a totally different outlook, handle situations a lot better, and take control over your destiny. A really practical way to do this is to develop better habits.

What are the bad habits you have?

Everyone has different bad habits, but when it comes to business here are the 4 most common ones:

  • Lack of focus: Every single day, there are going to be things you intend to do and then you “run out of time” or succumb to distractions. But if you’re honest, you had the time and there was a way – you just lacked focus.
  • You’re too kind: How many times have you taken on a project which wasn’t profitable, because you “felt sorry for them”. Not only does this actually hurt you, but it also in many ways hurts the relationship you have with that client or customer.
  • Promising and not delivering: Whether it’s something you said to your team, your clients, or your suppliers, if you’re not matching your words with your actions, over time others will believe you less and less.
  • Leaving opportunities on the table: So often people complain in business they don’t have enough (money/sales/support), when actually they do – they just didn’t ask for it. Within your existing network there is probably everything you need, you just have to ask.

“Successful people are simply those with successful habits.” – Brian Tracy

Think about it. You can look at each of these bad habits and replace them with new and better ones. Imagine…

  • If you created habits that made you focus better: you’d be more productive, with the same amount of time.
  • If you learned good ways to set boundaries: you’d have a better time delivering your services or products, and you’d feel more rewarded.
  • If you kept better track of your promises: You’d feel less stressed and overwhelmed.
  • If you picked up on more of those opportunities: You’d make more money, and inject welcome energy into those who are ready and willing to work with you. The side effect would be that you could delegate things you don’t love and aren’t good at to others more capable, and replace those activities with the things you love!

Breaking those bad habits

Over the years, I have managed to create more boundaries and space for me to be efficient and effective in my work. There are ways to do that  – some habits I have learned from others who have experienced and overcome similar issues, and some are the product of my own experiments. See below!

1. Sprints (for productivity)

I have to say this is so effective. I meet at least one other person at a coffee shop or members club – if it’s not in my office with my fellow team members. We plan to do 30 or 45 minutes of work and do between 3-5 sprints in a session. Blocking out 4 hours together I find works well.

We each say what we will work on and then we get going. No talking allowed, focusing only on the task we talked about. When the timer rings we stop, compare notes on progress, have a mini break and do another one. It’s honestly my most productive time, and it makes you realise how much time we waste on distractions and even moaning about having too much work on!

“A bad habit never disappears miraculously. It’s an undo-it-yourself project.” – Abigail Van Buren

2. A tiny assignment (for motivation to break a bad habit)

I have done this now twice with 2 different friends. We talk about the bad habits we each have, whatever they might be. We give each other a new rule or habit to follow over a two week period. It has to be a “SMART” goal assignment – specific, measurable, achievable, realistic and time-bound.

3. Low hanging fruit (for grabbing opportunities)

You simply make a list of people you already know who:

  • Fit into your target market but don’t work with you yet
  • Fit into your target market but haven’t worked with you for a while
  • Experience problems you know you can solve
  • Have their own network of contacts or audience which is very similar to the people you want to talk about
  • Have the expertise in things you find challenging, and very likely the answers to your current challenges

Once you have this list, you come up with some drafted initial outreach scripts for either text, email or phone calls and then you work through your list – sending out the requests, hellos, questions, etc. If you draft your communication well, considering the mindset of the people who are receiving these outreach messages, you will find each conversation will be at the very least a learning opportunity and would certainly lead to more “yeses” than if you didn’t do this exercise.

4. The minimum criteria (for setting boundaries)

If you find that your bad habits involve you saying “yes” too often when you should be saying “no” – then this one works great. You just need to write a specific list of criteria to answer the question “Any time I will do this, I need the following things to be true first”.

For example, you only take on a client who pays less than a certain minimum threshold, who has made a written commitment that they will comply with your specific set of guidelines for their responsibilities during the project. There are so many ways you can use the “minimum criteria” technique and you can share your rules with friends and colleagues to hold yourself accountable.

Now, with all this insight I hope you feel more motivated and you can’t even remember your excuses anymore!

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