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9 Strategies Your Startup Can Use In The First Year

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Startup office working

In the first year of being an entrepreneur and deciding to go and do your own startup, you are going to uncover multiple challenges along the way. To help you with this journey, I recently interviewed David Henderson (CEO) and Dana Blouin (Chief Data Scientist) of the first year startup Drvr.

Drvr is a combination of a device and a sleek piece of software that allows companies to capture data on their fleet of vehicles and then use their platform to analyse the data to assist in optimising driver behaviour, vehicle safety, and resource management.

Thailand is rated the second worst country in the world for road accidents with almost 30,000 people dying on the roads last year. This alarming statistic is partly what makes Drvr’s business concept so compelling outside of the obvious data insights.

Throughout the interview, it was clear that David and Dana were creating something much bigger than fleet management, but more a change in society and a vision of something bigger. David was a wealth of knowledge and took me back to what it’s like to be in year one of a brand new startup.

Dana, on the other hand, is clearly a thought leader in the tech space and has a very impressive career background. His expertise in “The Internet Of Things,” came across loud and clear, and is obviously a key motivation for him joining Drvr. He regularly speaks at technology conferences, is studying a Ph.D. and has an audience of 53K worth of Twitter followers.

What makes Drvr unique, as a startup is that it started in Australia and then moved to Bangkok in the first year to be closer to the most under-utilised customer-base. While the challenges exist, many of the lessons David & Dana taught me had some unique insight because of the change of locations.

Below are the nine strategies they gave me that you can use in year one of your own startup.

 

1. Frustration in the corporate world is useful in the startup world

If you are just beginning your first startup, then there is a high chance that you have probably left a corporate job of some form to follow your passion. Now in the first year it’s going to be very hard so you will need some pretty strong motivation.

David told me his own corporate story, which was the seed for starting Drvr. While working a corporate job in Australia, he was always getting enquiries from Asian companies trying to solve traffic and fuel stealing issues.

On a number of occasions he took a proposal to the board of his company and recommended that they expand into the region. On many occasions, he was consistently rejected (a key ingredient in successful startups).

He puts the rejection down to the fact that corporates can often be too conservative and even worried about things in a new market such as political risk, lack of understanding of the market, underdevelopment of the country and even corruption.

“Unless we take a few risks as entrepreneurs we won’t be able to succeed in business” – David Henderson

Dana puts the issue down to the suggestion that size can hamper mobility of a company and the bigger they are, the harder it is to pivot and make adjustments. He says, “it’s not that large business is not interested in innovation it’s just that they can’t move quick enough to take advantage of it.”

So David used his frustration in the corporate world as his strategy to join forces and form a startup with his colleagues Damien Williams and Eugene Peresada. So if you were previously working a day job and being told you couldn’t do something, then that’s your motivation for the first year of your startup.

Do you want to go back to being told you can’t do something every day? If not, continue with your startup and keep pivoting your idea until you find a revenue generating market.

 

2. Validate your idea with pilots

The first step to validation is to get feedback from industry professionals about your product or service. Assuming the feedback is good, you can then get your sales people (or you if you don’t have any) to offer pilots to prospective customers

If the customer feedback is positive, then your sales people should then get the clients to sign a contract for your product or service. Once you have customers with recurring revenue each month, then you have essentially proven your concept.

This is the exact strategy Drvr used to prove their startup concept and direction.

 

3. Make tough money decisions

As a startup founder, every day you have to make decisions about things you would like to do but can’t afford to do. In Drvr’s case, they were forced to make decisions like whether to spend money on going to conference, or whether to rent a new office.

Get used to making these tough decisions because the first year will require you only to fund the essential strategies of your startup.

 

4. Sales people are more powerful than marketing

If there was one strategy that came out loud and clear from Dana & David, it was that in the first year of a startup, unless you are focused on the consumer market, marketing should be a low priority. The best strategy that both of them continually recommended was to get sales people that have existing networks to customers you want to do business with.

Drvr has been successful because they have hired great sales people, focused on one clearly defined region to begin with and sold their service – simple. In places like Asia, more so than anywhere else, email is looked at as spam, cold calling doesn’t work and businesses don’t tend to look at Facebook or Newspapers to find services.

Leverage your business development efforts with existing networks before spending any money on marketing to make sales.

 

5. Time your first capital raise

Don’t raise funds immediately. You need to validate your idea first because most startups tend to pivot at least once. For Drvr, they pivoted within the first few months of their launch. If they hadn’t done the pivot, then they would have burnt through their cash.

The initial idea for Drvr was a user behaviour insurance that monitored driver behaviour and sent the data back to the insurance company and the driver. While this feature is still part of the product, it’s not their core offering.

Through their experience of attempting a seed round capital raise, David strongly believes you need to have some traction; otherwise it can become an impossibility to raise money. Now that Drvr has that traction, they are very likely to raise their seed round in the coming months.

 

6. Social enterprise elements drive culture and engagement

A trend that I see more and more, which I also saw with Drvr, is startups having almost a side business in some form of social enterprise. To drive great team culture, Drvr has a major goal of working on projects that have a benefit to the overall society that they serve.

Recently Drvr partnered with another Thai startup to help an off grid school with some much-needed school supplies and help to assess future needs for the school. This gets the Drvr team really excited and gives them a social enterprise element to their business.

How can your startup make an impact and change socially with your community?

If a startup team member’s primary motivation is to make money, then they are in the wrong place at a startup. David says they are better off working in a large organisation where over a five-year period they will probably earn more money.

Using the social enterprise aspect to Drvr, David gets his team to stay engaged by getting them to think of the opportunities they are going to have in advancing their career, being able to make a difference, having a large amount of responsibility and getting to work on some cool projects.

Dana Blouin With Thailand School Kids

Dana Blouin With Thailand School Kids

 

7. Develop a new kind of customer service strategy

By being a Thai startup, Drvr learnt that the expectation of customer service in Asia is much higher than other parts of the world. Asian business expects a startup to not only provide a service but to participate actively in their business. This creates an opportunity for a startup to win a client for the long term.

Asian business taught Drvr that you have to provide them with training and be the one that answers their questions when they need it. These businesses don’t expect to ring a call centre and talk to someone reading off a script.

“This strategy for customer service that Drvr learnt in Asia not only applies to the Asian market,” Dana told me, “it will be the differentiator between successful startups and the ones that fall by the wayside by using call centres and scripts.”

 

8. Attract talent and engage them

Drvr hired one of the first iOS developers in Myanmar Arkar Min Aung who has become a bit of a tech celebrity in the region for his work. What attracted him the most was the opportunity to work with a quality software development team and the chance to learn from Drvr’s co-founder Eugene, who is a very talented back end programmer.

So the lesson we can get from Drvr here is that money is not the only motivation to attract talent. When people get the chance to work with someone they can learn from and whom they respect, this will often outweigh the bias that money can have on attracting talent.

Dana Blouin Drvr Quote On Addicted2Success
When people join your startup team ask them if they have a Plan B. If they are leaving a corporate job then they won’t have a Plan B if they intend on putting everything into Plan, A which will hopefully be your startup.

The same advice should be said for you as the startup founder. Using your own capital to bootstrap a startup means that the only way you will stay motivated in the first year and not second-guess yourself is to have no backup plan. You must lead the team by example.

David & Dana told me that once you attract good talent, there are a number of ways to keep them engaged but that most of all you need to make your startup a place where people want to work.

In the first year, you really need to focus on measuring results and not the hours people work. Your motto should be “there are projects and we need them done, not how many hours did someone work.”

An easy way that Drvr found to attract talent and keep them engaged is to give each team member equity in the business (even if it’s only small), which helps give team members skin in the game. Combine this element with a social enterprise model, and you have a recipe for startup success.

 

9. Outsource basic functions

In year one for Drvr, they have remained very lean and outsourced most of the non-core roles. It’s no secret that being lean in year of your startup will set you up for success. Have all your information stored in the cloud using something easy like Google Apps For Business so you can add new users easily to your startup and allows users to work from anywhere.

For graphic design, try marketplaces like Design Crowd or Fiverr to find freelancers to outsource quickly too – Drvr found someone on Fiverr that ended up becoming their main graphics person. Outsource all your bookkeeping and ideally have someone local review the outsourced work regularly.

Regarding office space, start in a co-working space and scale out until it becomes more cost effective to get your own startup office space. These few little tips will help you stay lean in your first year and ensure you’re in business for year two.

 

***Entrepreneur Quick Tips***

Dana – Entrepreneurship is a beautiful thing and drives a lot of the innovation and creativity that we see in society. It’s not for everyone because it can be stressful and demanding. If you want to take the journey of entrepreneurship, the benefits far outweigh the challenges if you are ready for it.

Flush out your idea first, and validate it. Check if it’s feasible, something the market wants and something that’s economical. If you can answer yes to these things, then there is nothing stopping you from moving forward and making your own success.

David – Entrepreneurship is not an individual endeavour. You can’t do this as a one-man band. Every successful startup is built around a great team of people. Work with people you can trust and rely on and don’t put everything on your own shoulders.

Dana’s Favourite Book’s – “The Hundred Dollar Startup” and “Where Good Ideas Come From”

David’s Favourite Book – The Lean Startup

Visit Drvr’s Website for more information about their company or follow them on Twitter @Drvrapp.

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. Nihar Pradhan

    Jan 18, 2016 at 7:16 am

    Entrepreneurship is such a fascinating experience, that it is just not about being able to get passionately attached to one’s idea but also get meaningfully engaged to one’s purpose in life. Starting up in not easy and at the same time all such big things come only after investing good amount of effort and having strong commitment.
    I agree it is not always about the capital, it is more about the idea, the right idea that can solve real problem, solutions that can connect with the consumer experience. It is always a good idea to outsource activities those that are not core to the business venture and focus on the core competency that can always give the competitive advantage…good people makes all the difference, developing the ability to spot talent and seize the fitment is vital to talent sourcing and management.
    Indeed entrepreneurship is a beautiful thing involving a whole world of continuously innovation and playing with creativity and creative people.
    Thanks for the lovely article.

    • Tim Denning

      Feb 6, 2016 at 5:28 am

      Nihar thanks for taking the time to leave an in-depth response. You are on the right track in terms of focusing on the idea and not the capital. I used to think you never outsource anything but now I see things a bit differently.

      Cheers Nihar

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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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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. Nihar Pradhan

    Jan 18, 2016 at 7:16 am

    Entrepreneurship is such a fascinating experience, that it is just not about being able to get passionately attached to one’s idea but also get meaningfully engaged to one’s purpose in life. Starting up in not easy and at the same time all such big things come only after investing good amount of effort and having strong commitment.
    I agree it is not always about the capital, it is more about the idea, the right idea that can solve real problem, solutions that can connect with the consumer experience. It is always a good idea to outsource activities those that are not core to the business venture and focus on the core competency that can always give the competitive advantage…good people makes all the difference, developing the ability to spot talent and seize the fitment is vital to talent sourcing and management.
    Indeed entrepreneurship is a beautiful thing involving a whole world of continuously innovation and playing with creativity and creative people.
    Thanks for the lovely article.

    • Tim Denning

      Feb 6, 2016 at 5:28 am

      Nihar thanks for taking the time to leave an in-depth response. You are on the right track in terms of focusing on the idea and not the capital. I used to think you never outsource anything but now I see things a bit differently.

      Cheers Nihar

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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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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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