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8 Tips Game Developers Can Teach Startups About Crowdfunding

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You are about to learn the power of game developers and the principles they live by which can cause any startup to thrive if followed correctly. Never have I met two guys who are more passionate about what they do than Trent Kusters and Blake Mizzi who are two of four directors from game development collective League Of Geeks (LoG for short). To date, LoG have spent about $800k AUD on creating their game Armello and have crowdfunded nearly half of that through Kickstarter.

In Trent and Blake’s mind LoG is a collective of artists trying to create experiences, build amazing games and wow their users, but what I don’t think they realise is that their business plan, techniques and execution is probably better than most Fortune 500 companies. They have taken gaming concepts and applied them to their business with overwhelming success. When you couple that with a supportive government in Victoria (Australia) who understand how important the gaming industry is to the local economy, you have a Master Chef recipe for success. (GET EXCITED!!!)

 

***The Secret Sauce of Armello***

League Of Geeks is a game development collective that is structured so that they can work and collaborate with developers all around the world. They have created a world first model that works by gamifying the development of their game.

One of the directors had worked for a large game studio before joining League Of Geeks, and after he had left a company that he helped create into a world-class brand, he was left with nothing. This studio had tried their own version of a profit-share model, but it left the hourly rate of developers at something that was less than the industry average. After a failed attempt at starting a studio with a profit share model and the experience of leaving a big studio with nothing, the guys thought there had to be a better way to remunerate their team members.

Instead of using a numerical share the guys pivoted their new studio to have a gamified points based system. The points are earned based on a successfully, completed and approved task within their project. As all the tasks are being completed, they are accumulating into a pool of finished points. The total profits of the game are then sliced up between the company (League Of Geeks) and all the contributors.

The more tasks you do, the more points you earn and the more your percentage is of the games profits. The most important part when coming up with this point system is to understand how many hours your project will take, how many points will be needed and what the projected profits are of the project.

When you know this you can mathematically work out if the hourly rate is fair for the work your contributors need to do. It is unfair if someone spends fifty hours doing work for you and gets $5. The system must be honest, and a contributor should be able to earn more money from points than being paid hourly by the company.

To manage all of this the guys use the Pivotal Tracker software that helps them to see the velocity of their project and at what date certain milestones of the game will be completed – they can even see real time distractions like this interview affect their output. How can you implement the world-class technology that League Of Geeks has come up within your startup?

 

Below are Trent and Blake’s top eight tips to creating a textbook crowdfunding campaign for your startup.

 

1. Talk with other highly successful crowdfunding campaigns

Before the Armello guys did their campaign, they spoke with the top Video Game success stories from Kickstarter to see what they did to be successful at raising lots of money. It’s a great idea to hit them with questions and find out from them what worked, what didn’t work and what they would do again. You could even take it one level above that and send them a copy of your draft crowdfunding campaign and ask them for feedback.

The guys spent months researching Kickstarter and they describe it as a bit of a dark art where you hear legends that something might work if you say it in a certain tone or if the moon hits a certain position then a different strategy could work. Even though you can talk with other successful campaign founders, and their campaign could do everything right, just remember that their success is for that point in time – another point in time might yield completely different results even if you mirror the campaign with your own story. Some of the techniques though are timeless and can work at any point in time.

One lesson that the guys learnt from speaking with these other video game developers was that they had backers that had paid for the $10k tier, but in the end they just couldn’t afford it. If you can’t make your goal without having big tiers, then you’re in trouble anyway. Not all, your pledges will come through, and you have to expect a 15% drop off when you come to collect your pledges. The most common pledges that fall off are the larger ones. You can also get some users doing crazy pledge amounts just to troll your project.

Armello Gameplay

Armello Gameplay

Other backers from successful campaigns received a reward to come and spend a day at the game developers studio and the whole experience was an awkward interaction where it didn’t feel like there was a fair exchange of value. In these situations, you can feel like your time is not worth $10k and that that person could have just called up, and you would have let them come down and check out the studio for free. The Armello guys learnt from this advice, and from a responsibility point of view, they decided not to have monster high pledge tiers.

Kickstarter has 200-300 categories, and there is no precedence for this type of economic model ever before crowdfunding arose. Every single one of those categories has different purchaser and backer behaviours, so it’s worth studying your campaign’s niche thoroughly.

 

2. Communicate your why correctly

Kickstarter provides what’s known as good money, which means that there is no real legal obligation and no interest on the money to be paid. A lot of the campaign owners and backers work on a trust system and are trying to fill a need, so it’s very important to communicate your why correctly. You have to have a good product and not just one that anybody can get anywhere. It’s always good to come to Kickstarter when you really need the money because this will come through in your pledge, and it did for the Armello game.

Putting up a campaign where you say, “we have made the product already but we thought we would raise money anyway,” won’t work. In this scenario, there is no reason for someone to jump on board. A crowd of people will usually jump onboard your campaign because of compassion for your cause or early access to your product. Early access is appealing when you make the person feel like they are guiding the development and helping the developer finish the final product not just early access to something.

“People want to feel like they are the savior and that your boat is filling with water and they have jumped on with buckets to stop you sinking”

 

3. Create a rally and cry

When your startup is told by the industry that there isn’t a market for what you’re doing, your campaign can help create a call to arms that there is a need and for people to show their interest. Campaigns that demonstrate that the only way for something to be done is via crowdfunding, seem to work best. A great example is a game called Star Citizen where the gaming publishers of the world thought PC Games were dead and these guys proved through their campaign that they’re not.

Your campaign needs to be something that can only be achieved through crowdfunding and is the last hope to get the project off the ground.

Sell the dream of crowdfunding that people can come on board and make the game or project better. Give the users a sense that they will get one hundred times the value in return for their $15 pledge. When creating this rally make sure the page flows in the best possible way it can. For example, if you have beautiful music that accompanies your project you could tell the user to click play on the music as they are reading your story. Once your final story is up on the site consider cutting out sections that you don’t need and editing each section down to half of its length – only keep the critical content.

 

4. Implement a multi-stage campaign that is well timed

You shouldn’t bring your product to crowdfunding until you have a demo, and in the case of a game, something that can be played in some way, otherwise you are raising money too early. Part of LoG’s success with crowdfunding was to implement a three-stage campaign. They, first of all, ran their 30-day Kickstarter campaign that made them $305k. They then followed this up with a two and a half month Slacker Backer campaign that allowed them to keep collecting pledges on their website after the campaign was over.

The final step was to follow all of this up with an automated Backer Kit service one month after the Slacker Backer campaign. Backer Kit has been specifically designed to import all your data from other campaigns and merge it with your Kickstarter campaign.

On a platform like Kickstarter, you don’t have access to your backers contact details or their location. Backer Kit brings in a lot more details about your backers although the users must volunteer that information to you. This databasing of your backers allows you to generate CSV files and reports in case you want to email them or find out the geography of the backers (great for working out your tax bill).

Once Backer Kit has all your data in one place, it then sends out a customer service / survey email to your backers to manage the after campaign experience. The primary function it does though is to allow backers to increase their pledge tier from the one they originally selected, say $35, up a level to something like the $55 tier. Backers can also add add-ons, update their shipping address and details, which allows you to not have to deal with the customer service end of your campaign and tie everything in together.

 

5. Video – lights, camera, action

A high number of people that go to your page will watch the video, so this is crucial. Only a small number of projects that don’t have a video actually get funded. For the video to resonate it’s a good idea to have you or one of the other founders talking to the backers and to get your team on camera as well. A good closing line to your video could be “we want to bring this product to life, and we need you to make this happen!”

Your video should sell the dream, have a call to arms, be short and succinct, no longer than 3 minutes and ideally have some juicy animation if you can. Videos that are longer than 5 minutes typically have a rough drop off rate of 90% so make sure you follow the 3-5 minute format.

 

Watch Trent show you how a good video should be presented

 

6. Try some of these promotion techniques

The first four days of your campaign are the most important and you shouldn’t intend on sleeping at all, only promoting your campaign like crazy in every possible way you can. 40% of your funds will be raised during this time so if you only get 10% of your total pledge, then your campaign is usually over. What you raise in the first four days of your campaign is what you will do in the last four days. Thirty-five days is the best length for a campaign so try and set this as the length if you want to be successful.

A technique that can work well on Kickstarter is to cross-promote other campaigns in your updates. This cross-pollination is well received and will see some mutually beneficial promotion occur early on – campaigns speak to each other. Outside of the Kickstarter platform the next biggest attributer to funds for Armello was Twitter and then Facebook. The Armello guys saw that as soon as they put out a tweet or a post, they would see an injection of cash into their Kickstarter campaign – you have to be there stroking those oars on the rowboat.

Thirty Days of Despair

A crowdfunding campaign typically has a spike of funds in the beginning, a spike at the end and a trench in the middle where no matter what you do you can’t seem to raise a lot of funds.

To prove that crowdfunding is a bit of a dark art, Blake and Trent said that during one part of the Armello campaign the guys got IGN (one of the largest gaming sites in the world) to tweet a gameplay reveal to millions of people on their Youtube and Twitter accounts, and they didn’t see a single bump to pledges at all. Three days later a smaller site called Kotaku posted another gameplay video, and this then caught the tail end of their campaign that helped them raise $150k. You never know which marketing campaign is going to deliver.

The engagement with your campaign is really important as to whether your marketing will work, and people will pledge. The projects that typically get funded have a high amount of comments, so it’s important for you to stimulate the conversation on your crowdfunding page and get people talking. The more comments you have, the better your curation will be within Kickstarter’s platform.

During Armello’s 30-day Kickstarter campaign, the guys were on shifts managing their page 24/7 and replying to people’s questions. If a user reaches out and then you reply back straight away and then someone else sees you answering questions then they will ask a question. To create this natural viral loop, you must be 100% committed during the whole campaign to be there no matter what. The Armello page even had some of the users calling themselves the champion of the game so Trent and Blake would answer their questions and address them as the champion to make them feel inclusive of a community.

Most of your pledges will be International – UK and USA are typically the highest. This means that you shouldn’t concentrate your marketing in one country and try and target a few of the places where you see pledges coming from. Three days after the start of the Armello Kickstarter campaign, Trent jumped on a plane to the USA to start promoting what they were doing at a convention – don’t be afraid to do the media circuit in person in conjunction with your online marketing.

The Bitly secret weapon

When you’re posting links to your crowdfunding campaign on social media you should always try and use something like a custom Bitly links so that you don’t have some giant URL that won’t fit in a tweet. These links are typically more memorable, easier for people to share and will give you greater analytics as to who’s clicking the link.

 

7. Structure your rewards strategy

You must have clear, well-defined goals that are easy to read and understand aren’t convoluted, and that offer people real value every time they step up. To achieve this, you will need to have a focused strategy with your rewards. For the Armello game, the main goal was to funnel everyone into the $55 tier and then if they got a chance, they would encourage backers to go to a higher rewards tier from there.

One of the secrets is not to necessarily have lots of backers, but to have a high amount of money raised at the end. Due to the strategy with Armello’s rewards, the game raised more than $300k with a very low number of backers, because the average pledge was $49, which is quite high for a crowdfunding campaign.

The Armello guys were able to get people up to the next tier because as soon as a backer purchased the game at the base tier, immediately they created something new that came out which communicated that it was better value to go up another tier. Then a backer moves up again because something new has been added into another one of the higher tiers, etc.

Against each tier, you should profile a buyer type. For example, on one tier the Armello guys based the tier around someone who would love the audio, on another it was a buyer that might like the story books, or someone that wants to be the collector, or someone that wants to be the hardcore gamer to get in early. Different buyer types could then correspond to different pledge amounts, which you need to estimate to work out how much someone might pay. People that like the physicality of collector items might be willing to pay more than someone that just likes the audio of the game.

When offering physical rewards like figurines, books or t-shirts it can be very easy to get a quote from a manufacturer, set the pledge amount and then find that when you come to fulfil that order the price to manufacture and ship can be a lot more expensive. The way to overcome this is to build in a large buffer in case the cost of your rewards are more than expected.

 

8. Community is everything with crowdfunding

Kickstarter allows you to build a community, and the core community are coming onboard for the ride. The platform allows you to make your biggest fans even bigger fans, and you’re making them champions to go out and promote your product.

You’re also making your product better because this community is then getting early access to try it out and help shape the direction of the product build better. The community helps to make you more accountable because when you hear the bad feedback you instantly want to fix the issues they are facing.

The majority of your funding from Kickstarter will come from people browsing Kickstarter. These people that browse Kickstarter are almost like nomadic tribes that go from project to project. When a backer puts in $15, they get to go on a roller coaster ride, and it can be quite addictive because of this.

 

Trent and Blake’s favourite books are:

1. Good Strategy, Bad Strategy – Richard Rumelt

2. Too Soon Old, Too Late Smart – Gordon Livingston

League Of Geeks Directors: Tyshan Carey, Blake Mizzi, Trent Kusters and Jacek Tuschewski

League Of Geeks Directors: Tyshan Carey, Blake Mizzi, Trent Kusters and Jacek Tuschewski

If you would like to play the League Of Geeks very popular Armello game, it is now available on STEAM early access here.
It’s also worth mentioning that the Armello games success wouldn’t have been possible without the support from The Arcade Melbourne (game developer co-working space), The Game Developers Association of Australia, Film Victoria, Screen Australia and Creative Victoria.

Tim is best known as a long-time contributor on Addicted2Success. Tim's content has been shared hundreds of thousands of times and he has written multiple viral posts all around success, personal development, motivation, and entrepreneurship. During the day Tim works with the most iconic tech companies in the world, as an adviser, to assist them in expanding into Australia. By night, Tim coaches his students on the principles of personal development and the fundamentals of entrepreneurship. You can connect with Tim through his website www.timdenning.net or through his Facebook.

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2 Comments

2 Comments

  1. Sebastian Klassman

    Sep 1, 2016 at 9:47 pm

    Great overview Tim and very useful information for anyone looking to start crowdfunding. Structuring rewards in the right way, is also quite important. I think people need to be enticed, sometimes there are creative ways to do this within a campaign. You campaign will rely on it heavily. Thank you, wonderful read.

  2. Academic Papers

    Jun 8, 2015 at 6:53 am

    Wonderful articles in this post it’s very beneficial for me. Thanks to share this post.

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5 Steps to Regaining Stability After Your Million Dollar Business Idea Fails

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business failure

You probably must have heard that seven out of ten businesses fail within the first ten years of their conception. While this revelation might seem alarming, the fact remains that business failure is like a cake from which every entrepreneur must have, at least, a bite.

The common assumption of most entrepreneurs is that businesses with no solid ideas are the ones that fail. So instead of taking their foot off the ground, they spend years trying to come up with the “million-dollar” idea they believe won’t fail.

No doubt, bad business ideas lead to failure often. But the truth is, business failure isn’t a tale that only organizations with bad ideas tell. Because, in most cases, good ideas fail too. In fact, several good ideas executed by some of the world’s most successful business leaders in the early stages of their careers, failed.

Bill Gates, co-founder of Microsoft Corporation, once started Traf-O-Data alongside Paul Allena data-analyzing company that failed. Steve Jobs, while he was CEO at Apple, launched Apple Lisa, Apple III and other great products that failed. Henry Ford, the founder of Ford Motor Company, earlier launched two automotive companies that failed.

Although these entrepreneurs encountered failure, they never allowed it prevent them from working towards success.

In case your good business idea has failed and you’re about quitting, below are five actionable steps you can take to regain stability:

1. Accept the truth

Many entrepreneurs are suppressed by their failures because they keep running from the truth. When a business idea fails, it’s pointless shading the truth or shying away from the reality. A failed business idea is a failed business idea, period! Microsoft, for example, came into existence as a result of Gates’ ability to accept the truththat Traf-O-Data had failed.

Steve Jobs, co-founder of Apple, once said, “If I try my best and fail, well I have tried my best.” Once business owners learn to accept the bitter truth that their excellent business idea has failed and cease investing their time, money, and energy trying to breathe life into it, getting back on track will become less difficult.

“The world won’t care about your self-esteem. The world will expect you to accomplish something BEFORE you feel good about yourself.” – Bill Gates

2. Take responsibility

One of the many wrong steps business owners and executives take after their great business idea fails is playing the blame game—that is, giving excuses for their failure. Whether you head an Inc. 500 company or a mom-and-pop store, you have to take responsibility when your good business idea fails.

Taking responsibility, in the case of a large organization, doesn’t mean avoiding to discipline anyone whose incompetence directly led to the failure. Rather, it means spending less time on passing blames and giving excuses, and focusing more on the way forward. Instead of shifting blame when a good business idea fails, take responsibility for the failure and ensure you prevent similar failures from reoccurring.

3. Ask “why?”

For every failure a business experiences, there’s always a cause. Most times, good ideas fail due to poor execution, improper planning, wrong managerial decisions and the absence of professional hands. Knowing every failure has a cause, you need to ask yourself, “Why did ‘X’ business idea fail?”

Bill Gates, one of the world’s most successful business leaders, once said, “It’s fine to celebrate success, but it is more important to heed the lessons of failure.” When you know the cause of the failure, you will be able to extract a lesson or two from the unpleasant event. These lessons, in the future, can serve as a mapguiding you on the pathway to success when you embark on a similar quest.

4. Avoid negativity

In entrepreneurship, failure is one ingredient that makes the journey worthwhile. Therefore when a business idea fails, entrepreneurs are left with only two options: to come up with a new idea or modify the existing one, and get going. Although this is the norm, many entrepreneurs never make it back up because of one thing: Negativity.

Negativity (or pessimism) alone can ravage any entrepreneur’s business journey. Embracing self-doubt, spending time with toxic individuals, and submitting one’s self to chance are loopholes through which negativity steps in to ruin an entrepreneur’s career. To gain stability after your good business idea fails, you must abstain from pessimistic thinking and build relationships with positive, like-minded individuals.

“Defeat is a state of mind; no one is ever defeated until defeat has been accepted as a reality.” – Bruce Lee

5. Take the punches and keep moving

The ability to get up and keep moving after experiencing multiple failures is what differentiates real entrepreneurs from “aspiring” entrepreneurs. Or borrowing Steve Jobs’ words, “I am convinced that about half of what separates successful entrepreneurs from the unsuccessful ones is pure perseverance.”

You are an entrepreneur. One with a goal, vision, and mission. You didn’t start out as an entrepreneur believing the journey would be filled with rainbows and unicorns, did you? When your best business idea fails, remember that you are an entrepreneur. And in entrepreneurship, throwing in the towel sooner than necessaryeven after experiencing failureis against the rules of the game.

How do you recover from a set back?  Comment below!

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Startups

‘Computer Says No’ Type People Are The Problem.

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Saying no without listening is the problem.

It’s the cause of why we fail to innovate. It’s a form of arrogance that focuses all of our energy on our own selfish thoughts. This never-ending pursuit of one’s self-importance is the cause of everything, as a human race, we do not want.

 

Ciggies, Panadol and Coke Zero enter the room.

Last week, I had a profitable business idea squashed by one of those computer says no types that this article is based on.

She entered the room.
Before I opened my mouth, she looked like she was pissed off and acted superior.

She then placed her half-smoked packet of ciggies, her full bottle of Coke Zero (who’s fooled by this so-called ‘healthy option’) and a fresh packet of Panadol on the table. If that’s not a cocktail of problems right, there then I don’t know what is – back to the story.

I explained the business proposition, and before I finished, she said no.

“That’s not how we do things.”
“Let’s create a project.”
“Let’s write a strategy.”
“We don’t have the resources.”

When is it ever the right time? When will we ever have the right strategy? From what I’ve seen, a project equals taking our time and wasting our competitive advantage. Success is about moving quickly. Success is about listening. Success is about trying new things and not following the old way.

 

It’s the lack of emotion that is the problem.

This story above was disappointing for the fact that there was no emotion. It wasn’t two people having a conversation; it was one person being unemotional like a computer and spitting out a generic answer, while the other person just wanted to be heard.

 

No one has all the answers.

The computer says no mindset suggests that there is a hierarchy. It suggests that some people should be worshipped while others should bow down. This old model of the business world died a long time ago.

“We’re all global citizens that are equal and deserve to be heard”

The very answers these computer says no people think they have are what needs to change. Their answers are built on old models and need an upgrade. There is no one answer. The solution to different problems is never the same and the solutions are forever changing. The market is forever changing. People are forever changing. Nothing is static. Everything is in flux.

 

They don’t listen; they just say no.

Listening is where everything begins. You’ll never be successful unless you learn to listen. Listening is a skill and it’s forgotten way too often. Less is more. Understanding the problem and being brilliant is in the listening.

“Most of the answers you seek are hidden in the dialogue you’re currently ignoring”

 

Next time the computer says no, tell the computer you’re only accepting yes.

Let’s not make this a whinge session. What can we do about these computer says no people? Tell them that you’re only accepting yes. Be relentless. Challenge them and make them feel uncomfortable. Don’t allow yourself to be ignored. Do all of this with respect.

Part of what causes these no responses is laziness. It’s easier to say no than it is to exuberate energy and try to say yes. Now I’m not saying the Panadol, Coke Zero and ciggies were the entire cause (or am I?) but energy sure plays a part. When we’re living in a state of perpetual tiredness, we make dumb, computer says no, decisions.

You do have energy though. Your energy can break through the no’s and somehow find a way to get to a yes. Don’t accept defeat. Refuse to fail.

 

It’s easy to say no.

No requires very little thought. No says “Let’s just remain the same and not change anything.”

No is the easy way out for these computer says no people. Don’t let them win so easily.

See their weakness for saying yes and challenge it.

 

Make them work for their no.

Get them to give you clear and articulate reasons as to why the answer is no. Don’t let them get away with being lazy. Force factual evidence to be provided. Bring other people in to support your rationale for them to say yes. Go up the line. Speak to their boss if you have to.

Whatever you do, make them work for their no. Don’t allow them to get away with being lazy.

Don’t let the human race fail to progress because someone is not willing to use critical thinking and spend time tackling issues head-on.

 

No doesn’t mean no.

No means not right now.
No means I’m scared.
No means I don’t understand.
No means I might be threatened by you.

Try to find the true meaning of why you’re being told no. Computer says no type people are often fearful and scared of uncertainty. They look for proven ways rather than going into the shadows and searching for the unknown – also known as a new approach.

 

All is not lost.

These people can be changed. We can change their mindset. All of us need to be part of the solution to stamp out this epidemic. Pointing out the problem is not enough; we must empower each other to be part of the solution.

 

***Final Thought***

Computer says no people are tearing apart good ideas. They’re preventing innovation and they must be stopped. You have the power to force them to change and to listen. It begins and ends with each one of us not allowing this mediocrity in our communities, companies and social lives to continue on.

I declare Computer Say’s No Behaviour unacceptable.

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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Process And Red Tape Does Not Equal Progress.

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The corporate world has taught me the truth about process and red tape:

“Process creates people who follow it and believe they are superior for doing so. The reality is that the people who question the process are the true heroes”

Obviously, some process is needed, but the traditional way makes no sense.

Here’s how to rethink process:

 

Most processes lack critical thinking.

Ask yourself “Why are we following this process?”

Modern business requires you to think and know why you do what you do. Just because it’s the way it’s always been done, does not make it’s functional or practical. My grandpa’s horse and cart was functional back in the 1920’s and today it’s a useless pile of junk.

Critical thinking is needed with respect to “process.” Don’t become a process sook.

 

A lot of processes are kept beyond their expiry date.

The challenge is that the digital world is moving so fast. The moment you invent a process, the customer starts to do something different. That’s why a flexible process with minimal framework is ideal.

The process must move with the market and the people who use the process.

” Too much process turns people into critics that ridicule anyone who goes ‘outside of process’ “

Process can quickly become a means for people to become critical and insult each other. Going outside of the process to make business happen (which pays the bills) is not something that should be looked down upon. Instead, when this happens, we need to ask why the process wasn’t suitable.

 

Every process should regularly be reviewed.

Okay, so you have to have a process for something. It needs to be continually challenged.

Why do we have this process?
What do customers think of it?
Is it still timely?
Are there any steps in the process we can remove?

Out of date processes are destroying your business and if you are working for a company that has to follow them, you become de-motivated quickly.

There’s always another business you can work for that doesn’t have the same dumb process, so keeping people becomes hard as well thanks to too much process.

 

Rounding up things together like sheep.

You can’t round people and businesses up like a flock of sheep.

No two people are the same.
No two businesses are the same.

Unfortunately, very few business and people are the same. I rejoice that fact otherwise life would suck big time. We’d become even more bored and spend more time looking at a not so smartphone.

Embrace individuality. Let people think outside the process box. You’ll be amazed by the results. You might even build the next Facebook by doing so. When I see a black cat, with a white spot on it’s back, walk under a ladder, I shout out loud and do a dance!

Praise the heavens for the fact that the black cat is busting an ancient superstition. It’s time to sing Superstitious by Stevie wonder and get back in the groove.

 

Process kills innovation.

For the record, I hate the word innovation. It’s a buzz word that is frequently used and rarely practiced. Innovation can only thrive when we have a growth mindset. A growth mindset says that nobody is right and nobody is wrong. We’re all right in our own way and we are all continuously learning.

You can’t have an innovative culture or workplace if you suffocate it with the lethal gas that is too much process. Process turns dreamers (innovators) into deranged zombies that can’t wait to get home and get drunk.

 

Imagine if Uber followed the process.

That’s right: What if Uber did what every other taxi company did? We’d have the same broken system that doesn’t serve the customer or the driver. We’d never know what it was like to book a service, and then walk away without pulling our wallet out.

 

Frustration with “the process” is good.

You know why I love it when people get pissed off at too much process? Because it creates the seed of entrepreneurs. Entrepreneurs can’t take too much process and they end up proving people wrong by going and doing something better themselves.

If people didn’t get pissed off by out of date process, then we wouldn’t have a lot of the tech giants we have today. So again, don’t let the negativity take over. Take the negativity that is process and go and fix the problem, and charge money for it.

For those that do, I look forward to your email in the future that says thank you. Your welcome for these words I write which encourage you to stand up to BS process that makes no sense. Rebels move the world forward with their passion and they spit in the face of being suppressed by mediocrity.

We all have potential.
We can all do crazy, awesome stuff.
Don’t let too much process ruin the fun party!

 

In conclusion….

Process kills dreams.
Process kills companies.
Process kills ideas.
Process kills people and their potential.

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 Create Exponential Growth In Your Company Using This Simple Strategy

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company growth

When it comes to business, the more of it you have, the easier it is for the business owner to see where the business will be in five, ten, even fifteen years. Good business is what we want, but great business is what we dream of having.

If you’re an entrepreneur with a startup company, or maybe you’re an old pro cultivating business every day, there’s one thing we can all agree on. Having more business and creating more success within our business would be a great end result at the end of this year.

But what is the secret? It seems some people blast out of the entrepreneurial gate and people immediately gravitate to them, while others get lost in the crowd and struggle for six months before finally giving up their dream. While this is a sad depiction of what could be in store for your business, it doesn’t have to be like this.

Enter Rohan Sheth, a self-made success who used to work the counter at McDonald’s but now runs the CEO desk at Rohan Sheth Consulting, a multi-million dollar company helping entrepreneurs realize their dreams. If anyone knows the secret of creating exponential growth within their company, it’s Mr. Sheth, and he explains these well-known, but little practiced strategies that can explode your business.

1. Stay Consistent

First and foremost, Mr. Sheth described consistency as one of the key parts in building a successful business. He says, “Legitimate consistency with engagement for your business will show relevancy with your audience and allow them the opportunity to connect with you on a personal level.”

Being consistent within your target audience begins to build a sense of trust and expertise within your community and it’s important to understand what your target market wants and needs and sticking to a plan which delivers on these needs daily/weekly.

If your priority on social media marketing is your Instagram account, then make a plan and stick with it. Post consistent and valuable content which will plant a seed within your congregation making you stand out from the rest of your competitors. Remember, if you’re constantly selling to them, they’re not going to listen. It takes perfect timing to understand when to sell and when to continually deliver content that will meet their needs.

Eventually, your consistency will begin to be shared by your audience. When this happens, they will begin expecting something from you at certain times throughout the day or week. For instance, let’s say you have a YouTube channel where you always upload a helpful video every Friday. After you have consistently shown your viewers you can deliver on what you promise, they will pounce on your video’s every time you upload them.

“Success isn’t always about greatness. It’s about consistency. Consistent hard work leads to success. Greatness will come.” – Dwayne Johnson

2. Build the Relationship

In the online world of business it can be very tempting and even easy to fall prey to data and statistics. Sometimes you may even find yourself pouring over data sheets and getting excited when a line goes up or down.

While statistics are a reliable way to grow your business, it’s not the way to build a personal relationship with that one person who needs your services. No one person is unimportant. Each individual within your reach has the power and the potential to reach hundreds, even thousands of their friends when you take the time to show them you really care. So how does this part happen?

This is when you get down and dirty and jump in the mix in your social channels and your email list. Reply to comments, answer questions, reach out and offer your services and advice when you see someone in need. These are all barrier breakers in the relationship building process and can mean the difference of someone walking away and becoming a high value brand ambassador for your business later.

I realize once your business grows on social media, you will begin to have more people than you’ll know what to do with. Nonetheless, it’s still important to reach out as much as possible and show the face behind the brand. When your audience does start to get large, think about creating opportunities with your channels or pages which can provide a sense of belonging to your target market.

For instance, give the mass of followers you have retained a name. This will make them feel like they are part of the bigger picture and will draw them in and help the relationship building process grow between them and your brand.

3. Solve a Problem For The Masses

In order to encourage exponential growth within your company you need to be making use of the technology around you.

Technology is enabling organizations to reach entirely new markets in massive and viral ways. As the world’s population approaches 7.5 billion, companies and organizations with exponential business models can help close the gap between our growing population and the resources they need.

Many companies start with one core offering to customers to serve one need—like Uber and personal transportation—then expand their services to meet other needs, like UberEATS or UberHEALTH.

Mr. Sheth says to learn about your audience through the data and statistics and develop a plan which can solve these bigger problems they are having. This is more like relationship building on steroids and works well when you have a larger audience. Because the audience is larger, when you do solve the problem, they feel the need to tell their friends about it and here comes the flood of new visitors to your business.

“There was never a night or a problem that could defeat sunrise or hope.” – Bernard Williams

In Conclusion

Every entrepreneur wants to realize their dream of owning a successful business which can touch the hearts, minds, and wallets of every person in their target market. But you cannot do that until you have a plan which will keep you and your team on track. Mr. Sheth’s strategies can help you develop these techniques and when you apply and tweak them according to your personal goals you will start to see your business growing exponentially within your niche.

Is it your goal to own a business or grow the business you’re currently in? If so, share with us in the comments how you are going about it so we can help everyone.

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It’s So Easy To Find The Negative in Everything. But What’s The Point?

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Last week, I posted a photo on LinkedIn that showed Keanu Reeves and his generosity.

The post went semi-viral, and people really loved it.

Well almost everyone. There were the 1% of haters.

The highlight of the post is that Keanu takes the train to a lot of places with normal people like you and I, and is not into fancy things. He’s donated most of his money to good causes including leukemia.

The haters wanted to tear Keanu down because how dare he own a house in LA (allegedly).

 

Being right is not the answer.

Whether Keanu does or doesn’t still own a house in LA doesn’t matter. Trying to always be right can force you to be negative. You end up adopting the mindset that everybody is wrong, and you’re smart – and the world is just one big lie.

This mindset can slowly create a self-destructive nature to the way you do life.

 

How do you know you’re 100% right?

There are no absolutes in life. Not everything is as black and white as you think. Maybe Keanu had a house and sold it. Maybe the house doesn’t belong to him. Maybe he shares the house with three Air Bnb travelers and so technically the mortgage is shared.

You just don’t know everything.
Google and Wikipedia are often wrong.
Focus on positivity instead of always being right.

Keanu Reeves on the train.

 

This negative way of thinking serves no one. Least of all you.

Negatively tearing people down all the time is affecting your own mindset which equals your success in the long term. It may seem like an innocent comment that you’ve written on someone’s post, but it shapes the way you think. You can’t help not be affected by trash talking good people like Keanu.

When you stand up and want to work on your goal, you end up being drained of energy from all the negativity you’ve put out.

“If you want to get mad, get mad at your goals and why you haven’t achieved them!”

 

Use your time better.

Don’t you have something else to do other than commenting on social media? Instead of fact-checking the entire world, you’re better off switching off social media and chipping away at your dream. If you love cars, spend your time there. If you love art, create some.

Focus on creating and not consuming.

 

Your network suffers too.

Your habit of being negative and wasting your time worrying about Keanu’s financial stats is repelling good people out of your life. People are watching you shoot your mouth off and are subconsciously thinking “Maybe I’ll leave this person alone. This doesn’t feel good.”

As humans, we want to feel good. Being positive feels good and you attract the right people. Slamming people on social media to make yourself feel good makes everyone else feel like garbage. If you wonder why you have no friends or your current friends suck, this is part of the reason.

The good news is you can change it. Focus on the positive.

 

Remember your EGO.

Finding the negative often occurs when your ego is out of control. Your need to be right is linked to the idea that maybe you think you’re really smart. Your ego being too big contributes to your need to correct people and be negative.

“Your inflated ego and your negative mindset are in love with each other. Break them up – for good!”

 

***Final Thought***

This is not a post about social media and trolling. If you thought that then I’m sorry.

My aim here is to get you to remember why you do what you do. I want you to focus your time on being positive and fighting the raging tsunami that is negativity which we’re all having a daily sword fight with.

Positivity is power. Positivity is success. Publish positivity.

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

Tim is best known as a long-time contributor on Addicted2Success. Tim's content has been shared hundreds of thousands of times and he has written multiple viral posts all around success, personal development, motivation, and entrepreneurship. During the day Tim works with the most iconic tech companies in the world, as an adviser, to assist them in expanding into Australia. By night, Tim coaches his students on the principles of personal development and the fundamentals of entrepreneurship. You can connect with Tim through his website www.timdenning.net or through his Facebook.

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2 Comments

2 Comments

  1. Sebastian Klassman

    Sep 1, 2016 at 9:47 pm

    Great overview Tim and very useful information for anyone looking to start crowdfunding. Structuring rewards in the right way, is also quite important. I think people need to be enticed, sometimes there are creative ways to do this within a campaign. You campaign will rely on it heavily. Thank you, wonderful read.

  2. Academic Papers

    Jun 8, 2015 at 6:53 am

    Wonderful articles in this post it’s very beneficial for me. Thanks to share this post.

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Startups

5 Steps to Regaining Stability After Your Million Dollar Business Idea Fails

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business failure

You probably must have heard that seven out of ten businesses fail within the first ten years of their conception. While this revelation might seem alarming, the fact remains that business failure is like a cake from which every entrepreneur must have, at least, a bite.

The common assumption of most entrepreneurs is that businesses with no solid ideas are the ones that fail. So instead of taking their foot off the ground, they spend years trying to come up with the “million-dollar” idea they believe won’t fail.

No doubt, bad business ideas lead to failure often. But the truth is, business failure isn’t a tale that only organizations with bad ideas tell. Because, in most cases, good ideas fail too. In fact, several good ideas executed by some of the world’s most successful business leaders in the early stages of their careers, failed.

Bill Gates, co-founder of Microsoft Corporation, once started Traf-O-Data alongside Paul Allena data-analyzing company that failed. Steve Jobs, while he was CEO at Apple, launched Apple Lisa, Apple III and other great products that failed. Henry Ford, the founder of Ford Motor Company, earlier launched two automotive companies that failed.

Although these entrepreneurs encountered failure, they never allowed it prevent them from working towards success.

In case your good business idea has failed and you’re about quitting, below are five actionable steps you can take to regain stability:

1. Accept the truth

Many entrepreneurs are suppressed by their failures because they keep running from the truth. When a business idea fails, it’s pointless shading the truth or shying away from the reality. A failed business idea is a failed business idea, period! Microsoft, for example, came into existence as a result of Gates’ ability to accept the truththat Traf-O-Data had failed.

Steve Jobs, co-founder of Apple, once said, “If I try my best and fail, well I have tried my best.” Once business owners learn to accept the bitter truth that their excellent business idea has failed and cease investing their time, money, and energy trying to breathe life into it, getting back on track will become less difficult.

“The world won’t care about your self-esteem. The world will expect you to accomplish something BEFORE you feel good about yourself.” – Bill Gates

2. Take responsibility

One of the many wrong steps business owners and executives take after their great business idea fails is playing the blame game—that is, giving excuses for their failure. Whether you head an Inc. 500 company or a mom-and-pop store, you have to take responsibility when your good business idea fails.

Taking responsibility, in the case of a large organization, doesn’t mean avoiding to discipline anyone whose incompetence directly led to the failure. Rather, it means spending less time on passing blames and giving excuses, and focusing more on the way forward. Instead of shifting blame when a good business idea fails, take responsibility for the failure and ensure you prevent similar failures from reoccurring.

3. Ask “why?”

For every failure a business experiences, there’s always a cause. Most times, good ideas fail due to poor execution, improper planning, wrong managerial decisions and the absence of professional hands. Knowing every failure has a cause, you need to ask yourself, “Why did ‘X’ business idea fail?”

Bill Gates, one of the world’s most successful business leaders, once said, “It’s fine to celebrate success, but it is more important to heed the lessons of failure.” When you know the cause of the failure, you will be able to extract a lesson or two from the unpleasant event. These lessons, in the future, can serve as a mapguiding you on the pathway to success when you embark on a similar quest.

4. Avoid negativity

In entrepreneurship, failure is one ingredient that makes the journey worthwhile. Therefore when a business idea fails, entrepreneurs are left with only two options: to come up with a new idea or modify the existing one, and get going. Although this is the norm, many entrepreneurs never make it back up because of one thing: Negativity.

Negativity (or pessimism) alone can ravage any entrepreneur’s business journey. Embracing self-doubt, spending time with toxic individuals, and submitting one’s self to chance are loopholes through which negativity steps in to ruin an entrepreneur’s career. To gain stability after your good business idea fails, you must abstain from pessimistic thinking and build relationships with positive, like-minded individuals.

“Defeat is a state of mind; no one is ever defeated until defeat has been accepted as a reality.” – Bruce Lee

5. Take the punches and keep moving

The ability to get up and keep moving after experiencing multiple failures is what differentiates real entrepreneurs from “aspiring” entrepreneurs. Or borrowing Steve Jobs’ words, “I am convinced that about half of what separates successful entrepreneurs from the unsuccessful ones is pure perseverance.”

You are an entrepreneur. One with a goal, vision, and mission. You didn’t start out as an entrepreneur believing the journey would be filled with rainbows and unicorns, did you? When your best business idea fails, remember that you are an entrepreneur. And in entrepreneurship, throwing in the towel sooner than necessaryeven after experiencing failureis against the rules of the game.

How do you recover from a set back?  Comment below!

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‘Computer Says No’ Type People Are The Problem.

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Saying no without listening is the problem.

It’s the cause of why we fail to innovate. It’s a form of arrogance that focuses all of our energy on our own selfish thoughts. This never-ending pursuit of one’s self-importance is the cause of everything, as a human race, we do not want.

 

Ciggies, Panadol and Coke Zero enter the room.

Last week, I had a profitable business idea squashed by one of those computer says no types that this article is based on.

She entered the room.
Before I opened my mouth, she looked like she was pissed off and acted superior.

She then placed her half-smoked packet of ciggies, her full bottle of Coke Zero (who’s fooled by this so-called ‘healthy option’) and a fresh packet of Panadol on the table. If that’s not a cocktail of problems right, there then I don’t know what is – back to the story.

I explained the business proposition, and before I finished, she said no.

“That’s not how we do things.”
“Let’s create a project.”
“Let’s write a strategy.”
“We don’t have the resources.”

When is it ever the right time? When will we ever have the right strategy? From what I’ve seen, a project equals taking our time and wasting our competitive advantage. Success is about moving quickly. Success is about listening. Success is about trying new things and not following the old way.

 

It’s the lack of emotion that is the problem.

This story above was disappointing for the fact that there was no emotion. It wasn’t two people having a conversation; it was one person being unemotional like a computer and spitting out a generic answer, while the other person just wanted to be heard.

 

No one has all the answers.

The computer says no mindset suggests that there is a hierarchy. It suggests that some people should be worshipped while others should bow down. This old model of the business world died a long time ago.

“We’re all global citizens that are equal and deserve to be heard”

The very answers these computer says no people think they have are what needs to change. Their answers are built on old models and need an upgrade. There is no one answer. The solution to different problems is never the same and the solutions are forever changing. The market is forever changing. People are forever changing. Nothing is static. Everything is in flux.

 

They don’t listen; they just say no.

Listening is where everything begins. You’ll never be successful unless you learn to listen. Listening is a skill and it’s forgotten way too often. Less is more. Understanding the problem and being brilliant is in the listening.

“Most of the answers you seek are hidden in the dialogue you’re currently ignoring”

 

Next time the computer says no, tell the computer you’re only accepting yes.

Let’s not make this a whinge session. What can we do about these computer says no people? Tell them that you’re only accepting yes. Be relentless. Challenge them and make them feel uncomfortable. Don’t allow yourself to be ignored. Do all of this with respect.

Part of what causes these no responses is laziness. It’s easier to say no than it is to exuberate energy and try to say yes. Now I’m not saying the Panadol, Coke Zero and ciggies were the entire cause (or am I?) but energy sure plays a part. When we’re living in a state of perpetual tiredness, we make dumb, computer says no, decisions.

You do have energy though. Your energy can break through the no’s and somehow find a way to get to a yes. Don’t accept defeat. Refuse to fail.

 

It’s easy to say no.

No requires very little thought. No says “Let’s just remain the same and not change anything.”

No is the easy way out for these computer says no people. Don’t let them win so easily.

See their weakness for saying yes and challenge it.

 

Make them work for their no.

Get them to give you clear and articulate reasons as to why the answer is no. Don’t let them get away with being lazy. Force factual evidence to be provided. Bring other people in to support your rationale for them to say yes. Go up the line. Speak to their boss if you have to.

Whatever you do, make them work for their no. Don’t allow them to get away with being lazy.

Don’t let the human race fail to progress because someone is not willing to use critical thinking and spend time tackling issues head-on.

 

No doesn’t mean no.

No means not right now.
No means I’m scared.
No means I don’t understand.
No means I might be threatened by you.

Try to find the true meaning of why you’re being told no. Computer says no type people are often fearful and scared of uncertainty. They look for proven ways rather than going into the shadows and searching for the unknown – also known as a new approach.

 

All is not lost.

These people can be changed. We can change their mindset. All of us need to be part of the solution to stamp out this epidemic. Pointing out the problem is not enough; we must empower each other to be part of the solution.

 

***Final Thought***

Computer says no people are tearing apart good ideas. They’re preventing innovation and they must be stopped. You have the power to force them to change and to listen. It begins and ends with each one of us not allowing this mediocrity in our communities, companies and social lives to continue on.

I declare Computer Say’s No Behaviour unacceptable.

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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Process And Red Tape Does Not Equal Progress.

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The corporate world has taught me the truth about process and red tape:

“Process creates people who follow it and believe they are superior for doing so. The reality is that the people who question the process are the true heroes”

Obviously, some process is needed, but the traditional way makes no sense.

Here’s how to rethink process:

 

Most processes lack critical thinking.

Ask yourself “Why are we following this process?”

Modern business requires you to think and know why you do what you do. Just because it’s the way it’s always been done, does not make it’s functional or practical. My grandpa’s horse and cart was functional back in the 1920’s and today it’s a useless pile of junk.

Critical thinking is needed with respect to “process.” Don’t become a process sook.

 

A lot of processes are kept beyond their expiry date.

The challenge is that the digital world is moving so fast. The moment you invent a process, the customer starts to do something different. That’s why a flexible process with minimal framework is ideal.

The process must move with the market and the people who use the process.

” Too much process turns people into critics that ridicule anyone who goes ‘outside of process’ “

Process can quickly become a means for people to become critical and insult each other. Going outside of the process to make business happen (which pays the bills) is not something that should be looked down upon. Instead, when this happens, we need to ask why the process wasn’t suitable.

 

Every process should regularly be reviewed.

Okay, so you have to have a process for something. It needs to be continually challenged.

Why do we have this process?
What do customers think of it?
Is it still timely?
Are there any steps in the process we can remove?

Out of date processes are destroying your business and if you are working for a company that has to follow them, you become de-motivated quickly.

There’s always another business you can work for that doesn’t have the same dumb process, so keeping people becomes hard as well thanks to too much process.

 

Rounding up things together like sheep.

You can’t round people and businesses up like a flock of sheep.

No two people are the same.
No two businesses are the same.

Unfortunately, very few business and people are the same. I rejoice that fact otherwise life would suck big time. We’d become even more bored and spend more time looking at a not so smartphone.

Embrace individuality. Let people think outside the process box. You’ll be amazed by the results. You might even build the next Facebook by doing so. When I see a black cat, with a white spot on it’s back, walk under a ladder, I shout out loud and do a dance!

Praise the heavens for the fact that the black cat is busting an ancient superstition. It’s time to sing Superstitious by Stevie wonder and get back in the groove.

 

Process kills innovation.

For the record, I hate the word innovation. It’s a buzz word that is frequently used and rarely practiced. Innovation can only thrive when we have a growth mindset. A growth mindset says that nobody is right and nobody is wrong. We’re all right in our own way and we are all continuously learning.

You can’t have an innovative culture or workplace if you suffocate it with the lethal gas that is too much process. Process turns dreamers (innovators) into deranged zombies that can’t wait to get home and get drunk.

 

Imagine if Uber followed the process.

That’s right: What if Uber did what every other taxi company did? We’d have the same broken system that doesn’t serve the customer or the driver. We’d never know what it was like to book a service, and then walk away without pulling our wallet out.

 

Frustration with “the process” is good.

You know why I love it when people get pissed off at too much process? Because it creates the seed of entrepreneurs. Entrepreneurs can’t take too much process and they end up proving people wrong by going and doing something better themselves.

If people didn’t get pissed off by out of date process, then we wouldn’t have a lot of the tech giants we have today. So again, don’t let the negativity take over. Take the negativity that is process and go and fix the problem, and charge money for it.

For those that do, I look forward to your email in the future that says thank you. Your welcome for these words I write which encourage you to stand up to BS process that makes no sense. Rebels move the world forward with their passion and they spit in the face of being suppressed by mediocrity.

We all have potential.
We can all do crazy, awesome stuff.
Don’t let too much process ruin the fun party!

 

In conclusion….

Process kills dreams.
Process kills companies.
Process kills ideas.
Process kills people and their potential.

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 Create Exponential Growth In Your Company Using This Simple Strategy

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company growth

When it comes to business, the more of it you have, the easier it is for the business owner to see where the business will be in five, ten, even fifteen years. Good business is what we want, but great business is what we dream of having.

If you’re an entrepreneur with a startup company, or maybe you’re an old pro cultivating business every day, there’s one thing we can all agree on. Having more business and creating more success within our business would be a great end result at the end of this year.

But what is the secret? It seems some people blast out of the entrepreneurial gate and people immediately gravitate to them, while others get lost in the crowd and struggle for six months before finally giving up their dream. While this is a sad depiction of what could be in store for your business, it doesn’t have to be like this.

Enter Rohan Sheth, a self-made success who used to work the counter at McDonald’s but now runs the CEO desk at Rohan Sheth Consulting, a multi-million dollar company helping entrepreneurs realize their dreams. If anyone knows the secret of creating exponential growth within their company, it’s Mr. Sheth, and he explains these well-known, but little practiced strategies that can explode your business.

1. Stay Consistent

First and foremost, Mr. Sheth described consistency as one of the key parts in building a successful business. He says, “Legitimate consistency with engagement for your business will show relevancy with your audience and allow them the opportunity to connect with you on a personal level.”

Being consistent within your target audience begins to build a sense of trust and expertise within your community and it’s important to understand what your target market wants and needs and sticking to a plan which delivers on these needs daily/weekly.

If your priority on social media marketing is your Instagram account, then make a plan and stick with it. Post consistent and valuable content which will plant a seed within your congregation making you stand out from the rest of your competitors. Remember, if you’re constantly selling to them, they’re not going to listen. It takes perfect timing to understand when to sell and when to continually deliver content that will meet their needs.

Eventually, your consistency will begin to be shared by your audience. When this happens, they will begin expecting something from you at certain times throughout the day or week. For instance, let’s say you have a YouTube channel where you always upload a helpful video every Friday. After you have consistently shown your viewers you can deliver on what you promise, they will pounce on your video’s every time you upload them.

“Success isn’t always about greatness. It’s about consistency. Consistent hard work leads to success. Greatness will come.” – Dwayne Johnson

2. Build the Relationship

In the online world of business it can be very tempting and even easy to fall prey to data and statistics. Sometimes you may even find yourself pouring over data sheets and getting excited when a line goes up or down.

While statistics are a reliable way to grow your business, it’s not the way to build a personal relationship with that one person who needs your services. No one person is unimportant. Each individual within your reach has the power and the potential to reach hundreds, even thousands of their friends when you take the time to show them you really care. So how does this part happen?

This is when you get down and dirty and jump in the mix in your social channels and your email list. Reply to comments, answer questions, reach out and offer your services and advice when you see someone in need. These are all barrier breakers in the relationship building process and can mean the difference of someone walking away and becoming a high value brand ambassador for your business later.

I realize once your business grows on social media, you will begin to have more people than you’ll know what to do with. Nonetheless, it’s still important to reach out as much as possible and show the face behind the brand. When your audience does start to get large, think about creating opportunities with your channels or pages which can provide a sense of belonging to your target market.

For instance, give the mass of followers you have retained a name. This will make them feel like they are part of the bigger picture and will draw them in and help the relationship building process grow between them and your brand.

3. Solve a Problem For The Masses

In order to encourage exponential growth within your company you need to be making use of the technology around you.

Technology is enabling organizations to reach entirely new markets in massive and viral ways. As the world’s population approaches 7.5 billion, companies and organizations with exponential business models can help close the gap between our growing population and the resources they need.

Many companies start with one core offering to customers to serve one need—like Uber and personal transportation—then expand their services to meet other needs, like UberEATS or UberHEALTH.

Mr. Sheth says to learn about your audience through the data and statistics and develop a plan which can solve these bigger problems they are having. This is more like relationship building on steroids and works well when you have a larger audience. Because the audience is larger, when you do solve the problem, they feel the need to tell their friends about it and here comes the flood of new visitors to your business.

“There was never a night or a problem that could defeat sunrise or hope.” – Bernard Williams

In Conclusion

Every entrepreneur wants to realize their dream of owning a successful business which can touch the hearts, minds, and wallets of every person in their target market. But you cannot do that until you have a plan which will keep you and your team on track. Mr. Sheth’s strategies can help you develop these techniques and when you apply and tweak them according to your personal goals you will start to see your business growing exponentially within your niche.

Is it your goal to own a business or grow the business you’re currently in? If so, share with us in the comments how you are going about it so we can help everyone.

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