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Mark Cuban’s 6 Crucial Rules for Startups

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Mark Cuban's 6 Crucial Rules for Startups

How to Win at the Sport of Business, the title of Mark Cuban’s book in and of itself is enough to get any entrepreneur’s blood hot. If there is one common characteristic that I have noticed across the board it is that we are all extremely competitive. So is Mark Cuban. I think that Mark Cuban is often misunderstood and misinterpreted by the media on his philosophies. I recently finished his extremely insightful book, which actually isn’t a book at all – it is a collection of his blog posts strategically placed together.

There were so many key takeaways, but since I am a part of a start-up company I thought it made sense to share Mark Cuban’s rules for startups.

Here are Mark Cuban’s 6 Crucial rules for startups:

 

1. Don’t start a company unless it’s an obsession and something you love

Entrepreneurs need to have a very clear understanding that start-ups are not going to be a cake-walk. When the going gets tough, you better love what you are doing so that you can stay focused and intentional. Too many people give up right before they hit it big and are successful. Being obsessed about your idea/product/service will help you through the adversity.

 “Success is about making your life a special version of unique that fits who you are – not what other people want you to be.” – Mark Cuban

2. Hire people who you think will love working there

This rule definitely builds upon the first rule in that when tough times arise, how will your employees react and face adversity? If your team truly is passionate about your company’s mission, you can have peace of mind in knowing that they are representing your brand in the most positive light as possible.

This reminds me of one of Mark’s quotes I highlighted in the book: “I have learned to hire people in whom I can build trust, and let them take the ball and run with it.

 

3. Sales cure all

Mark says you have to know how your company will make money and how you will actually make sales. This is so key in the start-up community. We are no longer in a “build it and they will come” type of economy. We are in the information age, the age of commoditization which means your company has to be able to demonstrate and deliver value to your customers. The only reason someone is going to buy from you is trust and perceived value, then it’s up to you to create a repeat customer.

Mark was actually fired from one of his first jobs because instead of completing his normal morning duties of opening the retail store, he was meeting with a prospect and ended up closing a deal! How about that for a roller coaster day.

 

4. Know your core competencies and focus on being great at them

Mark always pays up for people in his core competencies. I relate this to staying the course, and not becoming scatterbrained with different ideas and projects. The following quote illustrates this point perfectly: “Win the battles you are in before you take on new battles.” This is so true, for example – in my business we have different verticals that seem appealing for us to penetrate. However, we haven’t won the battle on our main target market, why would we pivot to a different one?

“Expect the unexpected, and always be ready – everyone has inside them what it takes to be successful. You just have to be ready to unleash it when the opportunity presents itself.” – Mark Cuban

5. Coffee is for closers, lunch is a chance to get out of the office and talk

I relate this to Keith Ferrazi’s book about never eating alone. As entrepreneur’s, we have to create opportunities for ourselves. We must understand we are usually disrupting otherwise stagnant industries and therefore need solid connections to support us. Networking and creating relationships that count can prove to be tough. You have to have tenacity, confidence, and the passion to push through the naysayers.

 

6. Make the job fun for employees

Creating work environments that induce the flow state in your employees is paramount. Each and every one of us works differently and uniquely. Allow your team to have fun, get into the flow, and produce. Study how to set goals that will create this state for your team. When your team is connected to their work and your company’s mission, productivity will skyrocket.

Action Steps
  • Mark didn’t create uber-successful companies overnight, so don’t think you will either.
  • Create an implementation plan – each month focus on one of the rules and figure out an action plan to implement the rule into your company. For example – For rule #5 – Research different events/tradeshows/groups that your customers are a part of. Once you know where they are, go to the events on a regular basis and find out how you can add FREE value. Do not go seeking to make a sale. Finally, create a follow up plan that keeps you connected with your new connections.
  • Be patient, focus, and stay intentional. Review the rules, your implementation plans, and your results. Rinse. Wash Repeat.

Mark Cuban

Conclusion

I think these rules apply not only to startups, but can be implemented in any organization where people are working towards a common goal. Mark notes in his book that the way he became as successful as he did was by watching how the profitable companies in his niche operated, and then he emulated them. By following in his footsteps, Mark literally has laid the blueprint out for us to follow.

It is now up to you and I to go out there and positively affect change in our organizations. If you are not in a leadership position, share this article or come up with constructive ways that you can implement these rules into your company. Knowledge is not power, knowledge is potential power. Implementation of knowledge is where true power lies.

 

Thank you for reading my article! I would love to hear your thoughts in the comment section below!

Logan Freeman is a former college and professional football player turned entrepreneur. Currently he is focused on mastering the skills of influencing, goal achieving, and motivating others to break out of mediocrity and achieve big goals. Reach out to Logan on Twitter. “Be Great, Nothing Else Pays.”

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6 Comments

6 Comments

  1. LARISSA

    Nov 26, 2016 at 9:36 am

    THANK YOU
    FOR CREATING THE CONVERSATION HERE.

    It helps to see the difference in the approach to same “success” and I can do that and the truth is that the moment one have an idea and the next its behind and one just enjoy to make it into the real world! nothing to it! Some see it some not!

    I can admire for all those “GURUs” and I love those who done it! So, do well!

  2. Richelle

    Aug 21, 2016 at 2:01 am

    Fantastic article!!!

  3. Robert Schreib

    Jul 12, 2015 at 9:46 pm

    Also, if you are juggling a hundred details in business and life in general, if you have an idea, WRITE IT DOWN! Otherwise, your massive stream of processing in your brain will wash the idea away, and you’ll never be able to retrieve it! That sounds ridiculous, but what’s really ridiculous, is that this is one of those things that just keeps happening. So, when your Muse hits you with an new idea or innovation, write it down on the spot, and that way, you won’t lose something potentially priceless.

  4. Heitem Ak

    Jul 11, 2015 at 11:30 pm

    Hey logan,

    Hiring people that love working for your business is a crucial point.

    It will make sure everyone is working together toward the same goal!

    Best,

    Heitem Ak

    • Logan

      Jul 13, 2015 at 3:43 pm

      Heitem,

      I agree with you completely. We talk about getting into flow here a lot, and one way to do that is working towards a common goal!

Leave a Reply

Your email address will not be published. Required fields are marked *

Startups

Why You Should Use Pinterest to Grow Your Business

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pinterest for business

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

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

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

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

Pinterest statistics

It’s not just babies and crafts

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

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

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

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

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

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

pinterest business

It’s not as hard as you think!

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

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

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

Now get going!

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

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

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

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

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5 Steps to Turn Your Business Into a Well Oiled Machine

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how to automate your business
Image Credit: Unsplash

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

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

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

Step #1 – Get clarity & package your offers

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

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

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

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

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

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

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

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

Step #3 – Build a high quality team

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

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

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

Step #4 – Build systems and procedures

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

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

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

Step #5 – Automate when possible

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

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

Summary

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

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

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

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Why Your Business Should Focus on Effectively Outwitting Competitors

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business competition
Image Credit: Twenty20.com

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

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

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

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

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

1. Research other winning brands

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

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

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

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

2. Spin your obvious weakness into your strong point

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

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

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

3. Stay glued to your clients

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

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

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

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

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

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

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

Image courtesy of Twenty20.com

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Enough With The Word ‘Startup’

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The word ‘startup’ has created a false reality.

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

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

 

It’s time to bin the word startup.

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

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

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

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

 

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

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

Maybe you’re a small business with one employee.

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

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

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

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

 

Can everyone really be an entrepreneur?

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

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

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

Many of you can’t handle:

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

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

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

You’re human - you’ll be okay.

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

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

 

When does the ‘Startup Phase’ end?

It doesn’t.

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

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

 

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

No more buzz words.

No more unicorns.

No more thinking you’re smarter than your competitors.

No more BS valuations.

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

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

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

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

 

Business is business. 

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

THE END.

 

Final Word On Startups. 

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

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

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

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5 Viktor Frankl Quotes to Reshape Your Perspective Today

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Image Credit: Intellectual Takeout

Highly regarded as one of Viktor Frankl’s greatest works, “A Man’s Search For Meaning” highlights Dr. Frankl’s perseverance and survival through the Auschwitz concentration camp. His insights, both harrowing and enchanting, can be readily applied as a sort of spiritual compass for the modern-day man or woman. (more…)

Dan Whalen is a franchise operator with College Hunks Hauling Junk & Moving, personal development writer, and NLP master practitioner. He has a background in business management and team leadership spanning nearly a decade, and has a deeply-rooted passion for helping people experience fulfilling lives. You can find him on Twitter at @DanielJWhalen.

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6 Comments

6 Comments

  1. LARISSA

    Nov 26, 2016 at 9:36 am

    THANK YOU
    FOR CREATING THE CONVERSATION HERE.

    It helps to see the difference in the approach to same “success” and I can do that and the truth is that the moment one have an idea and the next its behind and one just enjoy to make it into the real world! nothing to it! Some see it some not!

    I can admire for all those “GURUs” and I love those who done it! So, do well!

  2. Richelle

    Aug 21, 2016 at 2:01 am

    Fantastic article!!!

  3. Robert Schreib

    Jul 12, 2015 at 9:46 pm

    Also, if you are juggling a hundred details in business and life in general, if you have an idea, WRITE IT DOWN! Otherwise, your massive stream of processing in your brain will wash the idea away, and you’ll never be able to retrieve it! That sounds ridiculous, but what’s really ridiculous, is that this is one of those things that just keeps happening. So, when your Muse hits you with an new idea or innovation, write it down on the spot, and that way, you won’t lose something potentially priceless.

  4. Heitem Ak

    Jul 11, 2015 at 11:30 pm

    Hey logan,

    Hiring people that love working for your business is a crucial point.

    It will make sure everyone is working together toward the same goal!

    Best,

    Heitem Ak

    • Logan

      Jul 13, 2015 at 3:43 pm

      Heitem,

      I agree with you completely. We talk about getting into flow here a lot, and one way to do that is working towards a common goal!

Leave a Reply

Your email address will not be published. Required fields are marked *

Startups

Why You Should Use Pinterest to Grow Your Business

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pinterest for business

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

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

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

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

Pinterest statistics

It’s not just babies and crafts

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

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

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

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

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

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

pinterest business

It’s not as hard as you think!

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

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

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

Now get going!

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

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

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

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

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Startups

5 Steps to Turn Your Business Into a Well Oiled Machine

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how to automate your business
Image Credit: Unsplash

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

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

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

Step #1 – Get clarity & package your offers

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

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

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

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

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

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

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

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

Step #3 – Build a high quality team

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

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

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

Step #4 – Build systems and procedures

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

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

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

Step #5 – Automate when possible

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

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

Summary

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

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

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

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Startups

Why Your Business Should Focus on Effectively Outwitting Competitors

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business competition
Image Credit: Twenty20.com

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

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

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

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

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

1. Research other winning brands

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

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

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

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

2. Spin your obvious weakness into your strong point

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

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

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

3. Stay glued to your clients

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

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

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

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

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

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

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

Image courtesy of Twenty20.com

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Startups

Enough With The Word ‘Startup’

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The word ‘startup’ has created a false reality.

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

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

 

It’s time to bin the word startup.

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

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

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

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

 

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

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

Maybe you’re a small business with one employee.

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

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

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

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

 

Can everyone really be an entrepreneur?

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

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

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

Many of you can’t handle:

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

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

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

You’re human - you’ll be okay.

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

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

 

When does the ‘Startup Phase’ end?

It doesn’t.

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

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

 

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

No more buzz words.

No more unicorns.

No more thinking you’re smarter than your competitors.

No more BS valuations.

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

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

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

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

 

Business is business. 

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

THE END.

 

Final Word On Startups. 

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

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

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

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