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7 Tips For Running A Successful Crowdfunding Campaign For Your Startup

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A lot of fans of Addicted2Success have shown interest recently in using crowdfunding for their startup. I thought I would make your life easy and bring you some tips from Rick Chen of Pozible, which is the largest crowdfunding platform in the Asia Pacific region and the 3rd largest globally. They have hosted more than 8000 projects and raised around $25 million dollars to date. The platform started out more for the creative arts industry, but now they have branched out into all sorts of different industries.

Pozible uses the reward based crowdfunding model, which is essentially pre-purchasing goods or services. The campaigns on the site must have an outcome so Pozible knows where the money is being spent. You must hit your funding target otherwise the project doesn’t go ahead, and you don’t get any of the pledges. Of course, you can always run the campaign again, but you have to get the pledges from scratch. The reason Pozible uses the all or nothing model is that they ask their users to only put the minimum amount they need. Anything you get on top of your target still gets to go towards you project. This way of thinking works well because if you know the minimum amount you need to do the project is $13k and you don’t get it, then logically speaking, you won’t proceed.

The idea came when Rick and his business partner were trying to figure out how they could help some of their creative friends raise money. One of those friends was brewing his own beer and having people prepurchase it. Rick and his business partner thought that a crowdfunding platform would be the best way for him to do that, and so, Pozible was created.

The most popular pledge amounts in order are $50, then $25 and then $175. In terms of the largest campaign so far, the award goes to a Chinese Smart Watch startup that raised $800k using Pozible.

Below are Rick Chens 7 tips for running a successful crowdfunding campaign.

 

1. Know the benefits of crowdfunding

One massive takeaway that I got from interviewing Rick Chen was that I always thought the whole point of crowdfunding was about raising money. While raising money is important, the main benefit you get is that it helps you build an audience for your startup and engage with your community. Even if you only raise a small amount, the raving fans you get on the platform are far more valuable, and you can build a business around them. A few Melbourne cafes have used the platform to sell coupons to their surrounding neighborhoods before they open. When the doors finally open they have had people lining up to use their coupon who now know their brand and live locally to their café – what a great way to gain exposure for your startup. As these people sit down, they can see their faces on the wall as part of their reward.

In general, technology projects tend to raise a bit more than art projects, so keep this in mind.

“If you have a product, that is based on some form of technology, you can use the platform to build your product and get real life feedback from your prospective customers”

 

2. Tell a great story

To be successful with crowdfunding, you must be personal, genuine and be a person with a real life story that is relatable. If your idea is airy-fairy, your chances of success are very low.

Use the format of a video to tell your story as it’s very convincing and very efficient to get your message across in the quickest amount of time. The video should be under 3 and a half minutes maximum. The one thing that should be in your video is a face, and it should be presented like you are telling your story to a friend. The questions you need to answer in the video are why you’re doing this, why your story is important and what people get out of supporting you.

Show evidence about your project like a prototype or what you have already achieved. This makes your story come across as legitimate. You do not need to do a lot of fancy things in the video otherwise it will come across as a branding video, not a pitch video. The video doesn’t have to be very professional and can just be done on your iPhone or webcam, although better quality is always a good thing, even though, the audience are not that picky. Make sure your video is trying to convince the audience and not Pozible of your story.
Don’t forget to include plenty of photos with your campaign. Rick says that photos displayed in a portrait layout work better than landscape because of the page layout of Pozible. Most campaigns on Pozible don’t have enough photos so try and put some really high-quality ones alongside the story. While it’s important to have text, a lot of people, don’t read it so make sure you have a good contrast between photos, video and text to cater for everybody’s needs.

Pozible Office Melbourne - Crowdfunding Platform
 

3. Set the right minimum for your pledge

Knowing what target to set for your pledge depends on the actual project itself. Setting the target is a double edge sword because the higher you set it, the harder it is to reach. At the same time, you want to make sure you are asking for enough money to complete your project.

Once you have hit 100% of your target, there are other ways to get more pledges later on. There has been a lot of success on Pozible where campaigns have been reached and then later, a follow-up campaign is launched. An example of this is Adore Home Magazine, which has successfully funded three issues of their magazine on Pozible.

“Ask yourself, if the target of your project is $10k and someone offered you $7k to do it, would you still go ahead. If the answer is yes, then your target is too high”

 

4. Supporter’s care about the rewards

A good reward system combines tangible products, an experience and recognition together to attract supporters. Often people focus too much on the tangible products and discount the experience and recognition rewards.

A great experience might be if you were a musician you could have people pay $250 and you will come to their home and sing – you can’t buy this in a store. If you’re a startup and you’re trying to start a café, you could have one of your rewards as recognition where if someone pledges a certain amount, you put their name on the wall of the café.

The other thing you should think about when designing your rewards is that if your idea doesn’t work, are the rewards something that you can still deliver regardless?

 

5. Pre-launch and market your campaign

The maximum length of a campaign is on Pozible is 60 days. 30-50 days is usually a good place to start so that it doesn’t get too long and tedious. Before you even put your campaign up you should make sure that you have already launched it on social media to gather early stage supporters. Don’t make the mistake of launching your campaign with no marketing or traction beforehand. Most of the traction will be built from social media, not from the Pozible site – money won’t just fall out of the sky you must market it. As with any business idea or startup, you also need to have a social media strategy that involves your audience in the form of a content plan.

Rick says you should ask for pledges to your campaign around one to two times per day along with some content for your audience. Make sure you don’t ask for a pledge the same way every day and try and change it up.

One idea is to use the campaign update function on Pozible to tell your audience how far your campaign has come and what you’re working on for the campaign right now. For example, posting on social media the day the prototype becomes ready and then the next day you could say you just went to visit the manufacturer. As you approach the deadline for your project you should let people know and include some visuals, as this has been seen to be very effective in getting those last minute pledges.

 

6. Don’t be afraid to be quirky

There was a musician in Melbourne that wanted to raise a very small amount of money to buy a pint of beer and a chicken parmigiana at his local pub. His reason for starting the campaign was that it was hard to enjoy some of these simple pleasures being a musician, so he made the decision to turn on crowdfunding. The rewards he had on offer were anything from pledging a dollar so he will think about you when he drinks his beer, all the way up to $40 which allows you to join him in the pub to have a beer and chicken parma with him. As simple as this may sound, this campaign got a lot of media attention, and he got to have dinner with quite a few strangers after his campaign was complete.

While he didn’t make any money from the campaign, this story is very much a form of social engagement and could even be considered art. Could this be a clever way for your startup to test an idea or express your brand?

 

7. Take your startup overseas

On a platform like Pozible you can accept pledges from all around the world and they currently receive pledges from over 100 countries including China. Having launched in China last year, Pozible have already noticed that a lot of Chinese projects get pledges from overseas. This is a great way to gain overseas attention and money for your idea that could be the difference between success and failure.

 

Final Tips

If your campaign is not successful the most important thing to do is find out why, before considering to do another one. There is no exact timeframe for relaunching again, just make sure you understand why your idea is not selling. This will help you save money later on because you will have valuable market data around your idea. If you’re thinking of launching the campaign on a multiple crowdfunding platforms at the same time, this is a bad idea because people will support your idea no matter what platform it’s on. If you have two destinations for your prospects to go on and pledge, you will confuse them. Also, if you target is $50k and you set up a campaign on both platforms and only raise $25k on each, you end up having two failed attempts. If you setup on one platform you could potentially hit the $50k target instead of raising zero.

When I asked Rick what his favorite book was, he said that he enjoys content from the website “The School of Life.” This site helps educate people on the skill sets for life such as dealing with stress, managing relationships and staying emotionally healthy.

 

The future of crowdfunding is bright, and we will see more and more ways for it to be used. Already, Pozible are testing if research projects can be funded by their platform. They are also seeing farming being reinvigorated through crowdfunding, and having rewards be delivered in the form of fresh food from local farmers. Traditionally farmers relied on the big supermarket chains to sell and market their produce; now crowdfunding has helped to level the playing field.

 

Rick Chen Pozible Founder 2

Founder of Pozible Rick Chen

 

If you want to try your own crowdfunding campaign, then visit Ricks website Pozible to get started and become a game changer.

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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2 Comments

2 Comments

  1. Puranjay

    Apr 9, 2015 at 6:02 am

    Hey Tim, fantastic points all around. I would stress on the storytelling bit. Nearly all the most funded projects on Kickstarter do a wonderful job of telling a story.

    Pozible is very interesting as well. Good to see a more global marketplace. Some of the products from Chinese companies on the platform look pretty fun 🙂

    Oh and btw, the first link to Pozible in the article leads to a 404 error page. You might want to look into that 🙂

    • Tim Denning

      Apr 23, 2015 at 11:01 am

      Thanks Puranjay. I have checked the link and it works fine. That’s really weird.

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Startups

4 Tips to Overcome Your Toughest Hardships When Starting a Business

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starting a business
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Successful entrepreneurs have long been known to embody specific traits that can be very useful in many aspects of life. Some of these traits include hard work, devotion and continuous solid effort. The different skills that entrepreneurs naturally gain through years and years of professional experience, have equipped them to effectively manage and continuously expand their business.

Nonetheless, if we backtrack to the beginning of most entrepreneurs journeys, we see that the majority of them almost always faced professional or personal challenges when first starting a new venture.

Entrepreneurs usually endure professional trials better than anyone else because they were prepared during the early stages of their careers. Yet, the power of perseverance, devotion and quality performance is truly tested when faced with powerful hardships at a personal level.

To provide some context in regards to these hardships, let me ask this question. Would you effectively run your newly established business if within the first three months, you were faced with the fact that a family member was admitted to the hospital, another got divorced after 20 years of marriage, and you were left by the woman you had decided to spend the rest of your life with?

New entrepreneurs can ensure their way to success when involuntarily having overcome personal challenges life has thrown at them. After all, the true measure of an entrepreneur’s character and ability, is in how they handle themselves in the face of adversity or failure.

Below are 4 tips to overcome life hardships when starting a business:

1. Focus on your business

Hard work is an important technique that can help you forget. Focus on your business and daily tasks and you will find yourself momentarily forgetting about the personal issues that may be troubling you.

In other words, all kinds of activities including office work, home chores or small errands will help your mind break the loop you may find yourself in. Not only you will be doing something productive, but you will also get the opportunity to improve your business during this unexpected situation.

“The way to get started is to quit talking and start doing.” – Walt Disney

2. Welcome the support of your friends and family

Being dealt with a bad hand doesn’t mean that there are no people willing to help and support you. Your family and friends are still here and willing to provide you with the emotional comfort and empowerment you need to go through this.

Make sure to contact them on a daily basis and let them know of your thoughts and issues, by becoming a part of their lives and engage in activities together. Participating in social events is a great way to keep your mind busy, meet new people and experience new things.

3. Practice acceptance and let it go

We sometimes find ourselves creating the perfect fantasy where all aspects of our lives are perfect, thus, it may be so difficult to let go of or accept a sudden turn of events. Focus on accepting the situation as is by reflecting on it.

Try meditating, take deep breaths and appreciate the people and things you still have in your life. One day you may find your own explanation as to why these events may have happened.

“In the process of letting go, you will lose many things from the past, but you will find yourself.” – Deepak Chopra

4. Read on a daily basis

Reading can provide an abundance of mental health benefits including stress relief, anxiety reduction, knowledge increase, and improved focus and concentration. Similarly to focusing on your business, reading can help you to briefly forget about personal issues while learning something new.

With reading, you will be able to develop different perspectives which can help you better evaluate life, self-reflect and even perceive everything from a different viewpoint.

Regardless of the techniques you choose to follow when life throws personal hardships at you, it’s important to remember that this is not an overnight achievement. Nevertheless, you can focus all your efforts on getting on with your life and continuously improving yourself.

How have you overcome hardships in your life? Let us know your thoughts in the comments below!

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Startups

3 Ways to Make Your Startup Feel Like a Booming Business

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Being an entrepreneur is a hugely popular day dream. Well over 50% of people want to be their own bosses, according to a survey from Forbes. However, only 4% of those surveyed are actually entrepreneurs! Why is entrepreneurship such a popular dream that many cannot achieve?

The problem is, many people approach running a startup without a solid plan. They hear about the benefits of being able to set your own schedule, develop your dreams, and ignore the realities of setting up a small business.

As Richard Branson says, “To be successful you have to be out there, you have to hit the ground running.” Success will only come if you are well prepared for the daily challenges of entrepreneurship. You need to be organized, focused, and connected to achieve your goals.

Your startup will feel like a booming business with a these 3 tweaks in your daily routine:

1. Stay Organized

Organization is crucial when it comes to running your own business. As an entrepreneur, you’re responsible for meeting all deadlines and getting your product and content out on time. You need to become a hardcore planner.

The best way to stay on top of everything is to create a to-do list and a routine to stay productive. Traditional work environments have routine built into the system, but it’s something you’re going to have to purposefully cultivate in your team. The best way to do this is to make sure your intentions are clear.

A solid to-do list is a good place to start. By ensuring a plan from when you wake up to when you end up in bed, you can make sure no moment is wasted. Use technology to achieve this goal as there are options on calendar and to-do-list applications on the market that can help you better plan and organize your day.

Google Calendar, Apple Calendar and Microsoft Outlook are all solid options since they can act as your personal assistant, making your day run seamlessly. Utilizing them helps you track events, plan and organize your schedule in a few simple clicks.

The core functions of the calendar apps are to show upcoming schedules and alert on important deadlines. To better understand the power of these apps, you have to actually get down to it and test them out. The one you choose depends on whether you are an Android, Windows or iOS person.

“Simplicity is the ultimate sophistication.” – Leonardo DaVinci

2. Stay Focused

When running a small business, it can be easy to lose sight of the big picture. If you’re focusing on small tasks, your energy will be depleted when it comes to the bigger picture of your business. In a study at the University of California, Irvine, found that interruptions that cause you to lose focus will result in stress and pressure. According to the report it takes an average of 23 minutes and 15 seconds to get back to a task after a distraction.

Tasks like scheduling and answering calls eat up time that could be better spent developing your team and product. This is where outsourcing comes in. By seeking out professionals, you can ensure your clients are cared for 24/7, while you get to the real work. By figuring out what tasks need to be performed by you and which do not, you’ll free up your time. Get a big business result with small business costs!

3. Stay Connected

Another way to help cultivate success in your startup is to make sure you are connecting with customers. It’s important that this feels authentic because people know when businesses aren’t being genuine and they will respond accordingly.

This authenticity is a benefit that startups have over big businesses. People will naturally assume that small businesses are more genuine than corporations. Prove it to them by being consistent and trust worthy.

“Well done is better than well said.” – Benjamin Franklin

Excellent communication and interaction with clients is necessary for your startup. You’ll want to build up a solid base of loyal customers, and the fastest way to do this is to provide exemplary customer experiences in every interaction. To help you better handle this part of small business and help monitor how you connect with your customers, consider investing in a Customer Relationship Management (CRM) system.

Through a CRM you can find and woo customers, because you are able to track how customers interact with your company. For example, a CRM program will let you know if you are getting leads from your social media campaigns, and how many people remember your marketing materials.

Big businesses use CRMs to get clients, by tracking where they connect, how frequently they buy from them, and where the connection stops. If you use a CRM in your small business, you’ll be able to compete, while still remaining genuine.

Running a small business isn’t for everyone, but there are certain traits you can develop within yourself to make it happen. By staying organized, focused, and connected, your startup will be able to compete with bigger businesses.

Do you have a business venture? If so, what is it and how do you plan on succeeding in the long run? Let us know in the comments below!

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4 Rules I Learned From Watching My First Business Go Up in Flames

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95% of all businesses fail within their first 5 years. Take that in for a moment. If you have recently started a business, you are almost guaranteed to fail! Why in the world would so many people start businesses, me amongst them, if they are basically writing themselves a death sentence?

Before I started my media company, I had spent 3.5 years working for another business. In December 2014, I came to the realization that I would not be working at that job forever. I approached my boss to discuss building a side project of my own within his business. My idea was a monthly greeting card business. The bonus was that I already had the images and the best verses to use, and an audience to target because of my job. In my mind, there was no way I could fail! As I began sending out contracts with the photographers, I was basically counting how much money I would be making in the first month.

Boy, was I in for a surprise! I had created the first three products and gotten a dozen or so photographers on board. However, when I announced the product to what I thought would be an eager audience, it totally flopped. Out of the over 150,000 people I had, only two signed up. When I went to production with the cards, the printing company totally failed on me. Everything that could have gone wrong did. The entire budget for the year had already been spent and we had essentially zero interest. I had to come back to my boss and tell him that the launch was a failure.

“Success is the result of perfection, hard work, learning from failure, loyalty, and persistence.” – Colin Powell

A few months later, when I came to him with the idea for what is Ratz Pack Media today, he laughed me out of the room. After the failed attempt, why in the world would he let me shift my focus from work AGAIN, just to fail?! Fast forward three years, and I am now running Ratz Pack Media full time, generating six figures. I have helped several clients reach their first $1 million. The things I learned from the very short lived greeting card company have helped me build my business, and now I hope they will help you as well.

Rule #1: Get used to failing

While it is true that almost all businesses fail within the first five years, that does not mean that the entrepreneurs who run them will never succeed. Just because your first idea fails, and it probably will, does not mean you should quit trying. When starting a business, you need to be prepared to fail. Everything that can go wrong will, and you‘d better expect them to. If you don’t, your business will join the graveyard. Even if the business fails, pull yourself back up and try again.

Rule #2: People will think you are crazy, and you probably are

Remember how 95% of all businesses fail? Yeah, you do have to be a bit crazy to want to try this thing. Yeah, it is easier to just keep your 9 to 5 job and your pension plan. Yeah, it is easier to let someone else build the future. But, where’s the fun in that? Starting a business is not for the faint of heart, and most people will assume you’ve gone off your rocker. They will likely say it until the moment you are successful. One of my favorite memes is,Work so hard that your haters ask if you’re hiring.” The reason I love it so much is because it is so true!

“Failure is simply the opportunity to begin again, this time more intelligently.” – Henry Ford

Rule #3: There are a ton of great ideas, but almost no great execution

When you take the leap to start a business you are likely starting out with an idea that you are sure will take you to the top of the mountain. When I started my business, I thought it would be a one-stop shop for online marketing. Now, we only focus on Facebook and Instagram management for clients. If I had kept going with the original idea, I would likely have failed already. At the beginning of a business, it is crucial to have a mission and a plan to execute, but you had better be willing to tweak and optimize it over time.

Rule #4: Test before you invest

When I started my greeting cards company, I put a lot of time into the creation of the products and the deals with the photographers. Before we had sold any products, we had already invested in the business. If I were to do it all over again, I would start by testing the waters, such as seeing what people thought about the cards, how much they would be willing to pay, how much interest there was in the idea, before putting so much into it. I apply this rule these days, especially in my clients’ ad campaigns. Whenever we start a new product launch, we begin by targeting their most engaged audience. We wait to see what these people think of the new product, and only then do we begin running ads to colder audiences.

When building a business, things may not always be in your favor. It is most important to remember that even if things go south, it is not too late. You will always have another chance, you will always get to try again, and you will always have another great idea.

I hope you enjoyed this article, and I would love to hear about the biggest lesson you learned from your previous failures down in the 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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Motivation

5 Bulletproof Ways Leaders Can Motivate Their Teams

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We all dream of a perfect, self-motivated team that is constantly putting their best foot forward and embracing each challenge they are given. In reality, as much as you’d like to encourage and motivate even more active contribution from your team members, it is often easier said than done. (more…)

Julia Myllylä is a content marketer at Viima, a fast-growing innovation management software company that allows companies to harness the immense innovation potential their employees and customers possess. She contributes to The Viima Blog, which is the premiere destination when it comes to content related to leadership, innovation and culture.

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2 Comments

2 Comments

  1. Puranjay

    Apr 9, 2015 at 6:02 am

    Hey Tim, fantastic points all around. I would stress on the storytelling bit. Nearly all the most funded projects on Kickstarter do a wonderful job of telling a story.

    Pozible is very interesting as well. Good to see a more global marketplace. Some of the products from Chinese companies on the platform look pretty fun 🙂

    Oh and btw, the first link to Pozible in the article leads to a 404 error page. You might want to look into that 🙂

    • Tim Denning

      Apr 23, 2015 at 11:01 am

      Thanks Puranjay. I have checked the link and it works fine. That’s really weird.

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Startups

4 Tips to Overcome Your Toughest Hardships When Starting a Business

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starting a business
Image Credit: Unsplash

Successful entrepreneurs have long been known to embody specific traits that can be very useful in many aspects of life. Some of these traits include hard work, devotion and continuous solid effort. The different skills that entrepreneurs naturally gain through years and years of professional experience, have equipped them to effectively manage and continuously expand their business.

Nonetheless, if we backtrack to the beginning of most entrepreneurs journeys, we see that the majority of them almost always faced professional or personal challenges when first starting a new venture.

Entrepreneurs usually endure professional trials better than anyone else because they were prepared during the early stages of their careers. Yet, the power of perseverance, devotion and quality performance is truly tested when faced with powerful hardships at a personal level.

To provide some context in regards to these hardships, let me ask this question. Would you effectively run your newly established business if within the first three months, you were faced with the fact that a family member was admitted to the hospital, another got divorced after 20 years of marriage, and you were left by the woman you had decided to spend the rest of your life with?

New entrepreneurs can ensure their way to success when involuntarily having overcome personal challenges life has thrown at them. After all, the true measure of an entrepreneur’s character and ability, is in how they handle themselves in the face of adversity or failure.

Below are 4 tips to overcome life hardships when starting a business:

1. Focus on your business

Hard work is an important technique that can help you forget. Focus on your business and daily tasks and you will find yourself momentarily forgetting about the personal issues that may be troubling you.

In other words, all kinds of activities including office work, home chores or small errands will help your mind break the loop you may find yourself in. Not only you will be doing something productive, but you will also get the opportunity to improve your business during this unexpected situation.

“The way to get started is to quit talking and start doing.” – Walt Disney

2. Welcome the support of your friends and family

Being dealt with a bad hand doesn’t mean that there are no people willing to help and support you. Your family and friends are still here and willing to provide you with the emotional comfort and empowerment you need to go through this.

Make sure to contact them on a daily basis and let them know of your thoughts and issues, by becoming a part of their lives and engage in activities together. Participating in social events is a great way to keep your mind busy, meet new people and experience new things.

3. Practice acceptance and let it go

We sometimes find ourselves creating the perfect fantasy where all aspects of our lives are perfect, thus, it may be so difficult to let go of or accept a sudden turn of events. Focus on accepting the situation as is by reflecting on it.

Try meditating, take deep breaths and appreciate the people and things you still have in your life. One day you may find your own explanation as to why these events may have happened.

“In the process of letting go, you will lose many things from the past, but you will find yourself.” – Deepak Chopra

4. Read on a daily basis

Reading can provide an abundance of mental health benefits including stress relief, anxiety reduction, knowledge increase, and improved focus and concentration. Similarly to focusing on your business, reading can help you to briefly forget about personal issues while learning something new.

With reading, you will be able to develop different perspectives which can help you better evaluate life, self-reflect and even perceive everything from a different viewpoint.

Regardless of the techniques you choose to follow when life throws personal hardships at you, it’s important to remember that this is not an overnight achievement. Nevertheless, you can focus all your efforts on getting on with your life and continuously improving yourself.

How have you overcome hardships in your life? Let us know your thoughts in the comments below!

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3 Ways to Make Your Startup Feel Like a Booming Business

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startup success
Image Credit: Unsplash

Being an entrepreneur is a hugely popular day dream. Well over 50% of people want to be their own bosses, according to a survey from Forbes. However, only 4% of those surveyed are actually entrepreneurs! Why is entrepreneurship such a popular dream that many cannot achieve?

The problem is, many people approach running a startup without a solid plan. They hear about the benefits of being able to set your own schedule, develop your dreams, and ignore the realities of setting up a small business.

As Richard Branson says, “To be successful you have to be out there, you have to hit the ground running.” Success will only come if you are well prepared for the daily challenges of entrepreneurship. You need to be organized, focused, and connected to achieve your goals.

Your startup will feel like a booming business with a these 3 tweaks in your daily routine:

1. Stay Organized

Organization is crucial when it comes to running your own business. As an entrepreneur, you’re responsible for meeting all deadlines and getting your product and content out on time. You need to become a hardcore planner.

The best way to stay on top of everything is to create a to-do list and a routine to stay productive. Traditional work environments have routine built into the system, but it’s something you’re going to have to purposefully cultivate in your team. The best way to do this is to make sure your intentions are clear.

A solid to-do list is a good place to start. By ensuring a plan from when you wake up to when you end up in bed, you can make sure no moment is wasted. Use technology to achieve this goal as there are options on calendar and to-do-list applications on the market that can help you better plan and organize your day.

Google Calendar, Apple Calendar and Microsoft Outlook are all solid options since they can act as your personal assistant, making your day run seamlessly. Utilizing them helps you track events, plan and organize your schedule in a few simple clicks.

The core functions of the calendar apps are to show upcoming schedules and alert on important deadlines. To better understand the power of these apps, you have to actually get down to it and test them out. The one you choose depends on whether you are an Android, Windows or iOS person.

“Simplicity is the ultimate sophistication.” – Leonardo DaVinci

2. Stay Focused

When running a small business, it can be easy to lose sight of the big picture. If you’re focusing on small tasks, your energy will be depleted when it comes to the bigger picture of your business. In a study at the University of California, Irvine, found that interruptions that cause you to lose focus will result in stress and pressure. According to the report it takes an average of 23 minutes and 15 seconds to get back to a task after a distraction.

Tasks like scheduling and answering calls eat up time that could be better spent developing your team and product. This is where outsourcing comes in. By seeking out professionals, you can ensure your clients are cared for 24/7, while you get to the real work. By figuring out what tasks need to be performed by you and which do not, you’ll free up your time. Get a big business result with small business costs!

3. Stay Connected

Another way to help cultivate success in your startup is to make sure you are connecting with customers. It’s important that this feels authentic because people know when businesses aren’t being genuine and they will respond accordingly.

This authenticity is a benefit that startups have over big businesses. People will naturally assume that small businesses are more genuine than corporations. Prove it to them by being consistent and trust worthy.

“Well done is better than well said.” – Benjamin Franklin

Excellent communication and interaction with clients is necessary for your startup. You’ll want to build up a solid base of loyal customers, and the fastest way to do this is to provide exemplary customer experiences in every interaction. To help you better handle this part of small business and help monitor how you connect with your customers, consider investing in a Customer Relationship Management (CRM) system.

Through a CRM you can find and woo customers, because you are able to track how customers interact with your company. For example, a CRM program will let you know if you are getting leads from your social media campaigns, and how many people remember your marketing materials.

Big businesses use CRMs to get clients, by tracking where they connect, how frequently they buy from them, and where the connection stops. If you use a CRM in your small business, you’ll be able to compete, while still remaining genuine.

Running a small business isn’t for everyone, but there are certain traits you can develop within yourself to make it happen. By staying organized, focused, and connected, your startup will be able to compete with bigger businesses.

Do you have a business venture? If so, what is it and how do you plan on succeeding in the long run? Let us know in the comments below!

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4 Rules I Learned From Watching My First Business Go Up in Flames

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95% of all businesses fail within their first 5 years. Take that in for a moment. If you have recently started a business, you are almost guaranteed to fail! Why in the world would so many people start businesses, me amongst them, if they are basically writing themselves a death sentence?

Before I started my media company, I had spent 3.5 years working for another business. In December 2014, I came to the realization that I would not be working at that job forever. I approached my boss to discuss building a side project of my own within his business. My idea was a monthly greeting card business. The bonus was that I already had the images and the best verses to use, and an audience to target because of my job. In my mind, there was no way I could fail! As I began sending out contracts with the photographers, I was basically counting how much money I would be making in the first month.

Boy, was I in for a surprise! I had created the first three products and gotten a dozen or so photographers on board. However, when I announced the product to what I thought would be an eager audience, it totally flopped. Out of the over 150,000 people I had, only two signed up. When I went to production with the cards, the printing company totally failed on me. Everything that could have gone wrong did. The entire budget for the year had already been spent and we had essentially zero interest. I had to come back to my boss and tell him that the launch was a failure.

“Success is the result of perfection, hard work, learning from failure, loyalty, and persistence.” – Colin Powell

A few months later, when I came to him with the idea for what is Ratz Pack Media today, he laughed me out of the room. After the failed attempt, why in the world would he let me shift my focus from work AGAIN, just to fail?! Fast forward three years, and I am now running Ratz Pack Media full time, generating six figures. I have helped several clients reach their first $1 million. The things I learned from the very short lived greeting card company have helped me build my business, and now I hope they will help you as well.

Rule #1: Get used to failing

While it is true that almost all businesses fail within the first five years, that does not mean that the entrepreneurs who run them will never succeed. Just because your first idea fails, and it probably will, does not mean you should quit trying. When starting a business, you need to be prepared to fail. Everything that can go wrong will, and you‘d better expect them to. If you don’t, your business will join the graveyard. Even if the business fails, pull yourself back up and try again.

Rule #2: People will think you are crazy, and you probably are

Remember how 95% of all businesses fail? Yeah, you do have to be a bit crazy to want to try this thing. Yeah, it is easier to just keep your 9 to 5 job and your pension plan. Yeah, it is easier to let someone else build the future. But, where’s the fun in that? Starting a business is not for the faint of heart, and most people will assume you’ve gone off your rocker. They will likely say it until the moment you are successful. One of my favorite memes is,Work so hard that your haters ask if you’re hiring.” The reason I love it so much is because it is so true!

“Failure is simply the opportunity to begin again, this time more intelligently.” – Henry Ford

Rule #3: There are a ton of great ideas, but almost no great execution

When you take the leap to start a business you are likely starting out with an idea that you are sure will take you to the top of the mountain. When I started my business, I thought it would be a one-stop shop for online marketing. Now, we only focus on Facebook and Instagram management for clients. If I had kept going with the original idea, I would likely have failed already. At the beginning of a business, it is crucial to have a mission and a plan to execute, but you had better be willing to tweak and optimize it over time.

Rule #4: Test before you invest

When I started my greeting cards company, I put a lot of time into the creation of the products and the deals with the photographers. Before we had sold any products, we had already invested in the business. If I were to do it all over again, I would start by testing the waters, such as seeing what people thought about the cards, how much they would be willing to pay, how much interest there was in the idea, before putting so much into it. I apply this rule these days, especially in my clients’ ad campaigns. Whenever we start a new product launch, we begin by targeting their most engaged audience. We wait to see what these people think of the new product, and only then do we begin running ads to colder audiences.

When building a business, things may not always be in your favor. It is most important to remember that even if things go south, it is not too late. You will always have another chance, you will always get to try again, and you will always have another great idea.

I hope you enjoyed this article, and I would love to hear about the biggest lesson you learned from your previous failures down in the comments!

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Why You Should Use Pinterest to Grow Your Business

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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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