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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

5 Ways to Avoid Burning Out While Building Your Business

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how to avoid burnout

Isn’t it strange how mundane things can bring back really vivid memories? As the burnt toast hit the trash, I remembered how burn out meant my first online business ended up on the scrapheap (nearly taking me with it). 

Juggling a full-time job, family, volunteering and running an online business left me physically, emotionally and psychologically exhausted. Just like toast, the burn creeps in slowly and when complete, you’re left unable to nourish yourself or anything else.

You may have already heard run-of-the-mill advice like taking regular breaks to prevent burn out. But what’s the point of stepping away from work only to be stressed that things will fall apart?

Here are five not-so-obvious ways to become burn out proof:

1. Create the right systems

Having no systems (or the wrong systems) is a recipe for disaster. Unfortunately, systems get a bad rap because they can be seen as snooze fests. Who’s ever heard of a sexy system? I sure haven’t!

To make matters worse, traditional systems have a sterile and stuffy image that can make some entrepreneurs feel boxed into something that’s unsuitable for their needs.

The key to making systems work for your business is to design them with flexibility, so your creativity isn’t stifled. Systems that curb burn out are those that account for the ‘secret sauce’ of how you do business. This ensures authenticity, even when your business grows. I call these flexible and personalized systems ‘productivity recipes.’ Because, just like normal recipes, you have the core ingredients and you can make tweaks to suit your business taste.

We’re all different, so there’s no one-size-fits-all business system. Productivity recipes focus on the human side of systems. They bring order to repetitive tasks while taking into account the quirks that make your business unique.

Productivity recipes stop burn out by preventing you from biting off more than you can chew, especially when your business is growing.

2. Get apps ‘talking’ to each other

Automation is another way to hand over repetitive and stressful work. Services like IFTTT and Zapier connect the apps you use to automate your workflow. In other words, they get rid of the biggest time sucks in your business.

Part of creating productivity recipes is to spot tasks you can automate. This will help your business run like a well-oiled machine and save you money when outsourcing.

Start out automating everyday tasks, like social media and email management, by finding out how the apps can ‘talk’ to each other.

Do yourself (and your health) a favour and start to create productivity recipes to see what you can automate. The aim is to drop repetitive tasks like a hot potato to reduce the risk of burnt out. Get your apps communicating to free up time to chat with friends and family.

“The first rule of any technology used in a business is that automation applied to an efficient operation will magnify the efficiency. The second is that automation applied to an inefficient operation will magnify the inefficiency.” – Bill Gates

3. Outsource

Outsourcing should be done when you already have productivity recipes in place. It’s tempting to hand over parts of your business to a VA or freelancer and forget about it, but this approach could land you in hot water.

With productivity recipes, anyone you hire will have the blueprint of how you expect things to be done. You’ll also save time getting new hires up to speed. Most importantly, your clients won’t get any nasty surprises or unwelcome changes when you grow your team.

You’ll be able to take time out to recharge your batteries, having all the confidence that your business will continue to function properly in your absence.

4. Find some cheerleaders

Being part of a supportive group is crucial to making yourself burn out proof. Informal groups, like Facebook communities, are helpful networks that can prevent you going down the burn out road.

If you’ve been working non-stop and your brain feels as limp as the lettuce in the sandwich you’ve been too busy to eat, connect with people who can identify with where you are and encourage you to take a step back.

The best groups are those that aren’t strictly business. Look for a group with dedicated days for sharing things like inspirational quotes and jokes to lighten things up a little.

Feeling like you’re the only one who experiences overwhelm can be a lonely place. Being part of a community where people share their struggles helps to provide perspective that you can achieve your goals without compromising your health.

“Be strong, be fearless, be beautiful. And believe that anything is possible when you have the right people there to support you.” – Misty Copeland

5. Inject your personality into your passion

When you’re passionate about your work, it seems like you can work day and night without ever feeling tired. Of course, it’s advisable to make time for proper rest. I’ve found that, the more I enjoy work, the more I look after myself to reduce the risks of becoming ill. I’m passionate about helping entrepreneurs be more productive to avoid burn out. I’m also a huge foodie. That’s why I incorporate food and drink analogies in my work because being fed and watered is something we can all relate to.

Injecting your personality into your work makes everything easier. It’s very draining pretending to be someone you’re not. If you’re already pursuing your passion, add a splash of your personality to reduce the chance of burn out.

Suffering from burn out is a serious setback to your health and business. It’s a relief to know that, unlike the burnt toast that ends up in the trash, you can make a full recovery from burn out. But why take the risk in the first place? Put in place practical measures to avoid getting burnt when the heat is turned up in your business.

It’s good to share. What do you put in place to make sure you don’t burn out? Leave a comment below and share your thoughts.

How do you avoid burning out when things get tough? Let us know by commenting below!

Image courtesy of Twenty20.com

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3 Lessons I Learned From the Failure of My First Startup

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startup failure

You’re exhausted. You’ve put countless of hours into an idea that you believed in so much. Literally almost blood, sweat and tears were sacrificed for this vision to be accomplished. You had hoped and expected for a lot of things, and was excited to have plans for the future.

A few months ago, I wrote an article here titled, “What I Learned After Opening My First Business at 21.” My restaurant was doing well that time, and writing that article made me feel on top of the world. I thought that it was going to be that way for a long time, yet not so long after that, sales started to become stagnant and then declined.

As I write this today, my restaurant has already stopped operations. It stopped a few days ago, but a couple months back, I knew it was bound to happen. We couldn’t keep up with the bills we needed to pay, and they kept accumulating day by day. With a heavy heart and chaotic mind, we knew we had to close it down.

I couldn’t believe this was happening barely one year after starting operations. But if you were to ask me that if I had the chance to start over, would I do it again? I would still say yes. Despite its failure, there were still very important (also expensive) lessons that I learned that I would never have acquired otherwise if I didn’t start the business.

Here are a few lessons I learned after failing my first startup:

1. Entrepreneurship requires resilience

You cannot ever be successful if you haven’t developed resilience. Whether you like it or not, something will turn out wrong in your business. Maybe sometimes not to the point that it needs to be shut down, but something that could make your decisions critical to your organization goals.

You could give yourself time to grieve, but it shouldn’t stop there. Life goes on. And you need to get back on your feet if you still want to make a difference. The biggest companies that are successful right now all experienced a massive amount of failure.

But they never stopped trying. Because with every failure comes a lesson. Anyone with common sense would learn from that failure, and start again with more knowledge on what to do and what not to do.

Whenever I thought about the accumulated debts of my restaurant, I would have this sinking feeling in my chest and stomach. I knew that I would have to liquidate the assets. So I continued to search for buyers of the assets.

Instead of grieving for a much longer period, I knew I’d have to pick myself back up again so I could pay the debt. It might be hard at first, but if you call yourself an entrepreneur, quitting is not an option. We fail, we learn, then get back up.

“Success is not final, failure is not fatal: it is the courage to continue that counts.” – Winston Churchill

2. Learn to listen

Being a first-time founder, I had a very idealistic attitude. I had no experience in the food industry and established the business with only the belief that my partners and I would make it. I was wrong.

Aside from not being able to make it with that business, I realized what the naysayers had been telling me all along. But you have to be careful here. There are naysayers who have no credibility to back up what they say and want to bring you down. But there are also ones who speak from experience and are genuinely concerned for you. You must learn to discern the right voices to listen to if you want to succeed.

Taking risks is good, but make sure those risks are calculated and not reckless. We took a risk that wasn’t entirely reckless, but not all aspects of them were calculated. We were unsure of some parts of the business, and just “winged” it. Look at what happened to winging it!

Know when you need to jump with both feet or just one, but also listen to the voices who tell you when to put your feet in the water. Trust me, you never know when you will value their input.

3. Your failures do not define you

I never thought this would take a toll on my self-esteem, even when I knew I had to get back up. On the outside I looked normal. Going to school, work, and social settings looking like nothing had happened. But inside I was a wreck and didn’t want to admit it.

I would feel guilty whenever people would praise me about how “successful” I was at such a young age but that wasn’t true. For a while I thought that I was the failure. My insecurities started haunting me again and my browser history was filled with questions on what to do.

That was when I discovered that successful people failed more often than they succeeded. Even the ones with smaller businesses had their fair share of failures before finding an idea that worked for them.

But their failures never got to their heart. They weren’t the failures. The business failed, not them. So they tried again until they got it right. Maybe this business didn’t work out for me, but that doesn’t mean I’ll never be successful. The sooner you believe your failures don’t define you, the more the weight will be lifted off your shoulders.

People fail every single day. The difference between the ones who succeed and those who don’t is persistence and the drive to continue even after failing. It’s much better to try and fail than never having to start and learn nothing.

“Success is not a good teacher, failure makes you humble.” – Shah Rukh Khan

Have you ever started a business that eventually failed? What did you learn from it? Please leave your experiences below!
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Want A Business Idea That’s Guaranteed To Make You Money? Here’s How You Should Start.

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business ideas

Let’s first start off with the “why”. When you know why you’re doing something, it can create clarity in your tasks, and direct your efforts. So, grab a sheet of paper, or a notebook and let’s get started.

Answer this question: Why do I want to start a business? Here are some common answers.

  • to do something I love
  • to create financial freedom so I can, “fill in the blank” (travel, pay off debts, buy expensive things, etc.)
  • to have the freedom to set my hours, choose when I work and what I work on
  • to help others, using my skills
  • I hate my job

Once you know why you’re doing it, you’ll have a better idea of what your goals are.

“The two most important days of your life are the day you were born and the day you discover why you were born.” – Mark Twain

Start With Your Skills

At the heart of every business, and profession is the solution to a problem. If you can identify a problem that a group of people are having and solve it for them, you have the makings of a successful business.

Start with your current skill set. Everyone has skills, passions and talents in one area or another. What we fail to sometimes see is the ability for those skills to solve a problem for others in a meaningful way.

You can also ask family and friends to help you identify your skills. They may point out strengths you never considered. Keep in mind you don’t need to have mastered that skill yet, you can continue to learn and develop it as you go along. Ray Higdon a successful business man says to “Invest, learn then teach”.

Invest in yourself and improving your skills, learn more about your niche, and creating solutions to their problems, then teach others what you’ve learned.

Once you’ve got that down, the next step is doing some research. What problems are people having that you could use your current skill set to help solve? This is where picking a niche comes in handy. A niche refers to a small specialized portion of the population.

Let’s say, you’re a stay at home parent, and one of your skills is cooking healthy family meals that your kids enjoy. Your niche will likely be stay at home parents. You can then narrow down your search by checking forums and website or magazines that target stay at home parents.

“If you do what you love, it is the best way to relax.” – Christian Louboutin

What To Look For in Your Research?

Look for pain points and problems, especially those that are recurring. You may find that cooking healthy meals is not necessarily where parents are struggling, maybe it’s with purchasing healthy foods or the cost (money and time) of healthy meals. You want to look at the questions people are asking, and take note of the language they use to describe their problems. Nutritious vs. healthy. Quick vs. easy.

Finally, take note of products that offer solutions to those problems. These offer ideas to you about ways in which you can present your solution; Youtube channels, specialized cookbooks, how-to guides, online courses, etc.

By the time you’ve followed all these steps, you would have established 3 things:

  1. A monetizable skill set — You know what your skills are and how you can use them
  2. Proof of a Need — People have a problem that you can solve, and now you know who they are.
  3. A Profitable Market — If people are buying said cookbooks, or paying for products, this shows you that they are willing to put their money where their mouth is.

This is the beginning of any business. Fast Food restaurants offer quick meals on the go, Walmart puts everything in one place so people don’t have to travel to different stores, books entertain or instruct, cars transport and save time. At the heart of every product and business is a need, and you are now on your way to creating a solution that people are already looking for!

What is a business you want to start? Share your thoughts below!

Image courtesy of Twenty20.com

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7 Essential Email Marketing Tips You Need to Implement Into Your Business Today

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While Email might seem like a fading beauty, this technological dinosaur continues to be the preferred method of communication for the digital age. The rise of smartphones and mobile devices has only added to emails popularity by putting constant communication right in the palm of our hands.

In fact, According to Custora, Email marketing was the biggest driver of Black Friday transactions last fall, with 25.1% of sales originating from email promotions.

With that in mind, here are some tips that are guaranteed to take your Email Marketing to a whole new level:

1. One Element, One Job

Most people try and do way too much with their emails, and you may be guilty of this as well. Follow the simple rule of making each element of your email do just one job, and your emails will become much more effective. The subject line of your email, for example, exists for one reason only: To get your email opened. Your subject line doesn’t need to explain what’s in the email. It doesn’t need to sell, or get clicks. It JUST needs to get your email opened.

That’s it’s job. The body copy of your email exists just for the purposes of getting clicks. That’s it. Each element has its proper place, and if you just make sure they do their job, you’ll see great results.

2. Keep It Short And Sweet

People are busy, and their attention span is limited…So always remember that you’re writing an email, not Homer’s Odyssey. Remember, the body of your email has one job: To get the reader to click. So say what you have to say, keep it short and sweet, and get them to click away from the inbox, and moving along the path towards where you want them.

“Good content is a commodity, great content is a scarcity.”

3. Train Your Subscribers To Click

Every email you write – Every single one – Should have a link in it that your readers can click on, and a call to action encouraging them to do so. If you’re selling something, obviously you would include a link, but if you are sharing content, or telling a story (which is fine, because people love stories) make sure to tell SOME of the story, then offer a link to read the conclusion on a web page or blog.

Link to videos, or other things the reader might find inspiring. Link to your help desk! Whatever it is, you want to train your readers to see your emails, open them, read them, and then CLICK.

4. Be Consistent

Consistency breeds familiarity, and familiarity breeds comfort and trust. And comfortable, trusting people buy stuff! Try opening and closing all your emails with the same introduction and the same sign off. Create a mailing calendar and try emailing the same days every week, or mailing at the same time everyday.

Much like bars offer a happy hour at the same time everyday, maybe you can send a “daily deal” email every afternoon or a weekly summary email. Whatever it is you decide to do, once you decide to do it, be CONSISTENT.

5. Personalize, {name}

Personalization fields are extremely powerful. Multiple studies have shown that the single most powerful word in any language is someone’s OWN name. And so of course, personalization fields that allow you to address your reader by name are incredibly effective. Campaign Monitor has reported that Marketers who use personalization in their subject lines see 26% more opens.

You can also use personalization fields to mention what time it is (no matter where someone is) what city or country someone is in. Even what they’ve bought in previous transactions!

“Email Acquisition is like cutting hair, must happen regularly, can be done well, but one bad experience can scar forever.” – David Baker

6. Segment Your Lists

Modern autoresponders are a miracle of analytical data and automation opportunities. You now have the ability to easily segment your lists, and you should. Separate your prospects from your buyers. Separate buyers by product or category, so you can follow up with smart emails that sell upgrades or related products! You can even separate people who opened and read previous emails from those who haven’t, so you can follow up with people who opened your emails, read them, and clicked, from those who didn’t.

7. Tell Stories

Storytelling is one of the oldest forms of communication known to man. Stories have been used throughout time to pass lore and culture down from generation to generation. And from a marketing standpoint, stories offer a glimpse into who you are, or what your business stands for and how it works.

This information might seem mundane to you, but an outsider will find it fascinating. And as a result, the ability to tell stories will dramatically improve your marketing. If you’re new to storytelling, start by finding friends or co-workers who are particularly fun or engaging. Pay attention to how they command a room through stories and anecdotes. Look for local storytelling events so you can attend, and listen in as master storytellers share their craft.

These 7 tips should drastically improve your email marketing. Start implementing them and be sure to share your results.

What other email marketing strategies would you add to this list? Leave your thoughts below!

Image courtesy of Twenty20.com

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The Ugly Truth About Success and Why You’re Not Achieving It

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As human beings, most of us have this tendency to overcomplicate things. Maybe you’ve had this experience of trying to find success, but for some reason, it keeps eluding you.  In our pursuit to win, hardly anyone tells us the ugly truth about why most of our dreams seem to evade us. (more…)

I used to be homeless and now run a six figure business with my partner and travel the world. My journey to help those in need has taken me from non-profit director to supporting holistic entrepreneurs have a life of freedom. I run the Thriving Launch Podcast, which features the most influential leaders in the areas of love, spirituality, business, and success. It's my mission to help heart-centered entrepreneurs get their message heard. Learn more on at my website ThrivingLaunch.com (http://www.thrivinglaunch.com/)

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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

5 Ways to Avoid Burning Out While Building Your Business

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how to avoid burnout

Isn’t it strange how mundane things can bring back really vivid memories? As the burnt toast hit the trash, I remembered how burn out meant my first online business ended up on the scrapheap (nearly taking me with it). 

Juggling a full-time job, family, volunteering and running an online business left me physically, emotionally and psychologically exhausted. Just like toast, the burn creeps in slowly and when complete, you’re left unable to nourish yourself or anything else.

You may have already heard run-of-the-mill advice like taking regular breaks to prevent burn out. But what’s the point of stepping away from work only to be stressed that things will fall apart?

Here are five not-so-obvious ways to become burn out proof:

1. Create the right systems

Having no systems (or the wrong systems) is a recipe for disaster. Unfortunately, systems get a bad rap because they can be seen as snooze fests. Who’s ever heard of a sexy system? I sure haven’t!

To make matters worse, traditional systems have a sterile and stuffy image that can make some entrepreneurs feel boxed into something that’s unsuitable for their needs.

The key to making systems work for your business is to design them with flexibility, so your creativity isn’t stifled. Systems that curb burn out are those that account for the ‘secret sauce’ of how you do business. This ensures authenticity, even when your business grows. I call these flexible and personalized systems ‘productivity recipes.’ Because, just like normal recipes, you have the core ingredients and you can make tweaks to suit your business taste.

We’re all different, so there’s no one-size-fits-all business system. Productivity recipes focus on the human side of systems. They bring order to repetitive tasks while taking into account the quirks that make your business unique.

Productivity recipes stop burn out by preventing you from biting off more than you can chew, especially when your business is growing.

2. Get apps ‘talking’ to each other

Automation is another way to hand over repetitive and stressful work. Services like IFTTT and Zapier connect the apps you use to automate your workflow. In other words, they get rid of the biggest time sucks in your business.

Part of creating productivity recipes is to spot tasks you can automate. This will help your business run like a well-oiled machine and save you money when outsourcing.

Start out automating everyday tasks, like social media and email management, by finding out how the apps can ‘talk’ to each other.

Do yourself (and your health) a favour and start to create productivity recipes to see what you can automate. The aim is to drop repetitive tasks like a hot potato to reduce the risk of burnt out. Get your apps communicating to free up time to chat with friends and family.

“The first rule of any technology used in a business is that automation applied to an efficient operation will magnify the efficiency. The second is that automation applied to an inefficient operation will magnify the inefficiency.” – Bill Gates

3. Outsource

Outsourcing should be done when you already have productivity recipes in place. It’s tempting to hand over parts of your business to a VA or freelancer and forget about it, but this approach could land you in hot water.

With productivity recipes, anyone you hire will have the blueprint of how you expect things to be done. You’ll also save time getting new hires up to speed. Most importantly, your clients won’t get any nasty surprises or unwelcome changes when you grow your team.

You’ll be able to take time out to recharge your batteries, having all the confidence that your business will continue to function properly in your absence.

4. Find some cheerleaders

Being part of a supportive group is crucial to making yourself burn out proof. Informal groups, like Facebook communities, are helpful networks that can prevent you going down the burn out road.

If you’ve been working non-stop and your brain feels as limp as the lettuce in the sandwich you’ve been too busy to eat, connect with people who can identify with where you are and encourage you to take a step back.

The best groups are those that aren’t strictly business. Look for a group with dedicated days for sharing things like inspirational quotes and jokes to lighten things up a little.

Feeling like you’re the only one who experiences overwhelm can be a lonely place. Being part of a community where people share their struggles helps to provide perspective that you can achieve your goals without compromising your health.

“Be strong, be fearless, be beautiful. And believe that anything is possible when you have the right people there to support you.” – Misty Copeland

5. Inject your personality into your passion

When you’re passionate about your work, it seems like you can work day and night without ever feeling tired. Of course, it’s advisable to make time for proper rest. I’ve found that, the more I enjoy work, the more I look after myself to reduce the risks of becoming ill. I’m passionate about helping entrepreneurs be more productive to avoid burn out. I’m also a huge foodie. That’s why I incorporate food and drink analogies in my work because being fed and watered is something we can all relate to.

Injecting your personality into your work makes everything easier. It’s very draining pretending to be someone you’re not. If you’re already pursuing your passion, add a splash of your personality to reduce the chance of burn out.

Suffering from burn out is a serious setback to your health and business. It’s a relief to know that, unlike the burnt toast that ends up in the trash, you can make a full recovery from burn out. But why take the risk in the first place? Put in place practical measures to avoid getting burnt when the heat is turned up in your business.

It’s good to share. What do you put in place to make sure you don’t burn out? Leave a comment below and share your thoughts.

How do you avoid burning out when things get tough? Let us know by commenting below!

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3 Lessons I Learned From the Failure of My First Startup

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You’re exhausted. You’ve put countless of hours into an idea that you believed in so much. Literally almost blood, sweat and tears were sacrificed for this vision to be accomplished. You had hoped and expected for a lot of things, and was excited to have plans for the future.

A few months ago, I wrote an article here titled, “What I Learned After Opening My First Business at 21.” My restaurant was doing well that time, and writing that article made me feel on top of the world. I thought that it was going to be that way for a long time, yet not so long after that, sales started to become stagnant and then declined.

As I write this today, my restaurant has already stopped operations. It stopped a few days ago, but a couple months back, I knew it was bound to happen. We couldn’t keep up with the bills we needed to pay, and they kept accumulating day by day. With a heavy heart and chaotic mind, we knew we had to close it down.

I couldn’t believe this was happening barely one year after starting operations. But if you were to ask me that if I had the chance to start over, would I do it again? I would still say yes. Despite its failure, there were still very important (also expensive) lessons that I learned that I would never have acquired otherwise if I didn’t start the business.

Here are a few lessons I learned after failing my first startup:

1. Entrepreneurship requires resilience

You cannot ever be successful if you haven’t developed resilience. Whether you like it or not, something will turn out wrong in your business. Maybe sometimes not to the point that it needs to be shut down, but something that could make your decisions critical to your organization goals.

You could give yourself time to grieve, but it shouldn’t stop there. Life goes on. And you need to get back on your feet if you still want to make a difference. The biggest companies that are successful right now all experienced a massive amount of failure.

But they never stopped trying. Because with every failure comes a lesson. Anyone with common sense would learn from that failure, and start again with more knowledge on what to do and what not to do.

Whenever I thought about the accumulated debts of my restaurant, I would have this sinking feeling in my chest and stomach. I knew that I would have to liquidate the assets. So I continued to search for buyers of the assets.

Instead of grieving for a much longer period, I knew I’d have to pick myself back up again so I could pay the debt. It might be hard at first, but if you call yourself an entrepreneur, quitting is not an option. We fail, we learn, then get back up.

“Success is not final, failure is not fatal: it is the courage to continue that counts.” – Winston Churchill

2. Learn to listen

Being a first-time founder, I had a very idealistic attitude. I had no experience in the food industry and established the business with only the belief that my partners and I would make it. I was wrong.

Aside from not being able to make it with that business, I realized what the naysayers had been telling me all along. But you have to be careful here. There are naysayers who have no credibility to back up what they say and want to bring you down. But there are also ones who speak from experience and are genuinely concerned for you. You must learn to discern the right voices to listen to if you want to succeed.

Taking risks is good, but make sure those risks are calculated and not reckless. We took a risk that wasn’t entirely reckless, but not all aspects of them were calculated. We were unsure of some parts of the business, and just “winged” it. Look at what happened to winging it!

Know when you need to jump with both feet or just one, but also listen to the voices who tell you when to put your feet in the water. Trust me, you never know when you will value their input.

3. Your failures do not define you

I never thought this would take a toll on my self-esteem, even when I knew I had to get back up. On the outside I looked normal. Going to school, work, and social settings looking like nothing had happened. But inside I was a wreck and didn’t want to admit it.

I would feel guilty whenever people would praise me about how “successful” I was at such a young age but that wasn’t true. For a while I thought that I was the failure. My insecurities started haunting me again and my browser history was filled with questions on what to do.

That was when I discovered that successful people failed more often than they succeeded. Even the ones with smaller businesses had their fair share of failures before finding an idea that worked for them.

But their failures never got to their heart. They weren’t the failures. The business failed, not them. So they tried again until they got it right. Maybe this business didn’t work out for me, but that doesn’t mean I’ll never be successful. The sooner you believe your failures don’t define you, the more the weight will be lifted off your shoulders.

People fail every single day. The difference between the ones who succeed and those who don’t is persistence and the drive to continue even after failing. It’s much better to try and fail than never having to start and learn nothing.

“Success is not a good teacher, failure makes you humble.” – Shah Rukh Khan

Have you ever started a business that eventually failed? What did you learn from it? Please leave your experiences below!
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Want A Business Idea That’s Guaranteed To Make You Money? Here’s How You Should Start.

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Let’s first start off with the “why”. When you know why you’re doing something, it can create clarity in your tasks, and direct your efforts. So, grab a sheet of paper, or a notebook and let’s get started.

Answer this question: Why do I want to start a business? Here are some common answers.

  • to do something I love
  • to create financial freedom so I can, “fill in the blank” (travel, pay off debts, buy expensive things, etc.)
  • to have the freedom to set my hours, choose when I work and what I work on
  • to help others, using my skills
  • I hate my job

Once you know why you’re doing it, you’ll have a better idea of what your goals are.

“The two most important days of your life are the day you were born and the day you discover why you were born.” – Mark Twain

Start With Your Skills

At the heart of every business, and profession is the solution to a problem. If you can identify a problem that a group of people are having and solve it for them, you have the makings of a successful business.

Start with your current skill set. Everyone has skills, passions and talents in one area or another. What we fail to sometimes see is the ability for those skills to solve a problem for others in a meaningful way.

You can also ask family and friends to help you identify your skills. They may point out strengths you never considered. Keep in mind you don’t need to have mastered that skill yet, you can continue to learn and develop it as you go along. Ray Higdon a successful business man says to “Invest, learn then teach”.

Invest in yourself and improving your skills, learn more about your niche, and creating solutions to their problems, then teach others what you’ve learned.

Once you’ve got that down, the next step is doing some research. What problems are people having that you could use your current skill set to help solve? This is where picking a niche comes in handy. A niche refers to a small specialized portion of the population.

Let’s say, you’re a stay at home parent, and one of your skills is cooking healthy family meals that your kids enjoy. Your niche will likely be stay at home parents. You can then narrow down your search by checking forums and website or magazines that target stay at home parents.

“If you do what you love, it is the best way to relax.” – Christian Louboutin

What To Look For in Your Research?

Look for pain points and problems, especially those that are recurring. You may find that cooking healthy meals is not necessarily where parents are struggling, maybe it’s with purchasing healthy foods or the cost (money and time) of healthy meals. You want to look at the questions people are asking, and take note of the language they use to describe their problems. Nutritious vs. healthy. Quick vs. easy.

Finally, take note of products that offer solutions to those problems. These offer ideas to you about ways in which you can present your solution; Youtube channels, specialized cookbooks, how-to guides, online courses, etc.

By the time you’ve followed all these steps, you would have established 3 things:

  1. A monetizable skill set — You know what your skills are and how you can use them
  2. Proof of a Need — People have a problem that you can solve, and now you know who they are.
  3. A Profitable Market — If people are buying said cookbooks, or paying for products, this shows you that they are willing to put their money where their mouth is.

This is the beginning of any business. Fast Food restaurants offer quick meals on the go, Walmart puts everything in one place so people don’t have to travel to different stores, books entertain or instruct, cars transport and save time. At the heart of every product and business is a need, and you are now on your way to creating a solution that people are already looking for!

What is a business you want to start? Share your thoughts below!

Image courtesy of Twenty20.com

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7 Essential Email Marketing Tips You Need to Implement Into Your Business Today

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While Email might seem like a fading beauty, this technological dinosaur continues to be the preferred method of communication for the digital age. The rise of smartphones and mobile devices has only added to emails popularity by putting constant communication right in the palm of our hands.

In fact, According to Custora, Email marketing was the biggest driver of Black Friday transactions last fall, with 25.1% of sales originating from email promotions.

With that in mind, here are some tips that are guaranteed to take your Email Marketing to a whole new level:

1. One Element, One Job

Most people try and do way too much with their emails, and you may be guilty of this as well. Follow the simple rule of making each element of your email do just one job, and your emails will become much more effective. The subject line of your email, for example, exists for one reason only: To get your email opened. Your subject line doesn’t need to explain what’s in the email. It doesn’t need to sell, or get clicks. It JUST needs to get your email opened.

That’s it’s job. The body copy of your email exists just for the purposes of getting clicks. That’s it. Each element has its proper place, and if you just make sure they do their job, you’ll see great results.

2. Keep It Short And Sweet

People are busy, and their attention span is limited…So always remember that you’re writing an email, not Homer’s Odyssey. Remember, the body of your email has one job: To get the reader to click. So say what you have to say, keep it short and sweet, and get them to click away from the inbox, and moving along the path towards where you want them.

“Good content is a commodity, great content is a scarcity.”

3. Train Your Subscribers To Click

Every email you write – Every single one – Should have a link in it that your readers can click on, and a call to action encouraging them to do so. If you’re selling something, obviously you would include a link, but if you are sharing content, or telling a story (which is fine, because people love stories) make sure to tell SOME of the story, then offer a link to read the conclusion on a web page or blog.

Link to videos, or other things the reader might find inspiring. Link to your help desk! Whatever it is, you want to train your readers to see your emails, open them, read them, and then CLICK.

4. Be Consistent

Consistency breeds familiarity, and familiarity breeds comfort and trust. And comfortable, trusting people buy stuff! Try opening and closing all your emails with the same introduction and the same sign off. Create a mailing calendar and try emailing the same days every week, or mailing at the same time everyday.

Much like bars offer a happy hour at the same time everyday, maybe you can send a “daily deal” email every afternoon or a weekly summary email. Whatever it is you decide to do, once you decide to do it, be CONSISTENT.

5. Personalize, {name}

Personalization fields are extremely powerful. Multiple studies have shown that the single most powerful word in any language is someone’s OWN name. And so of course, personalization fields that allow you to address your reader by name are incredibly effective. Campaign Monitor has reported that Marketers who use personalization in their subject lines see 26% more opens.

You can also use personalization fields to mention what time it is (no matter where someone is) what city or country someone is in. Even what they’ve bought in previous transactions!

“Email Acquisition is like cutting hair, must happen regularly, can be done well, but one bad experience can scar forever.” – David Baker

6. Segment Your Lists

Modern autoresponders are a miracle of analytical data and automation opportunities. You now have the ability to easily segment your lists, and you should. Separate your prospects from your buyers. Separate buyers by product or category, so you can follow up with smart emails that sell upgrades or related products! You can even separate people who opened and read previous emails from those who haven’t, so you can follow up with people who opened your emails, read them, and clicked, from those who didn’t.

7. Tell Stories

Storytelling is one of the oldest forms of communication known to man. Stories have been used throughout time to pass lore and culture down from generation to generation. And from a marketing standpoint, stories offer a glimpse into who you are, or what your business stands for and how it works.

This information might seem mundane to you, but an outsider will find it fascinating. And as a result, the ability to tell stories will dramatically improve your marketing. If you’re new to storytelling, start by finding friends or co-workers who are particularly fun or engaging. Pay attention to how they command a room through stories and anecdotes. Look for local storytelling events so you can attend, and listen in as master storytellers share their craft.

These 7 tips should drastically improve your email marketing. Start implementing them and be sure to share your results.

What other email marketing strategies would you add to this list? Leave your thoughts below!

Image courtesy of Twenty20.com

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