Adding Entrepreneurial Aspects To Your Business

Entrepreneurs are business owners that are not tied to their service or product, but rather, innovation in and of itself. If you are a business owner that is looking for a breakthrough in your business here are some entrepreneurial traits to add to your roster.

Experiment 
Arguably the most important characteristic for an entrepreneur is innovation. Being able to take calculated risks, and being willing to work through the consequences with positive outcomes as well as setbacks is a cornerstone for progress.

Equal Footing
One of the best ways to foster inclusion and a positive company culture is through a simple and easy to maneuver company structure. A looser organization style encourages independence and builds clout between seniority levels. Forgo the rigid company hierarchy for a system that allows employees to feel important, valued and well supported.

Subtle Selling
Everyone is a salesperson. All employees from top to bottom should be so deeply committed to the business’ products or services and be singing its praises if and when given the opportunity. It’s essentially free commercials and endorsements.  

Give Equity
Ownership adds a new layer of participation for employees that is often overlooked by many business owners. Giving equity incentives is an amazing way to create clout and trust, adding a deeper sense of responsibility and investment.

Trust
Properly trained employees by virtue should have the ability to make decisions regarding their work. Micromanagement and lack of trust can very quickly deteriorate relationships in the workplace. Set your employees for success and then give them the opportunities to grow and learn at their own pace.

Communication
Open door policies are one of the pillars of successful entrepreneurial endeavors. Set an example for giving and receiving feedback with positive communication styles.

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Video for Social Media

Video is heralded as one of the top types of content you can post on social media. Video, when done right, increases engagement, reach and has a higher chance of going viral because of that. Video can say more than a single image or text post, so it’s no wonder that it is becoming more and more important to the everyday marketer’s strategy.

Types of Video

Interactive

Interactive video gives users the chance to participate in the narrative. With clickthrough options that give you as the viewer the option to choose your own path (think build-your-own adventure novels) these gamified videos are highly engaging, actionable, and great for demonstrating products, services, or events. Deloitte’s “Will You Fit Into Deloitte” video is a broad recruitment video that helps a viewer understand if they are suited to the company, and is an example of how interactive video can be used.

360 Degree

360 degree videos are getting their own type of fame on Facebook right now. These videos allow users to click around and explore a 360 degree view of whatever the video is about. From exploring the ocean to promote preserving coral reefs, to realtors hosting 360 degree tours of different available properties, 360 degree video can do more with less time than video has previously allowed. A great example is The Economist’s 360 degree tour of the Palau coral reefs.

Product Demo

If your business has a tangible product to sell, product demos can not only function as another type of user manual, but can also make the product more attractive to a larger audience when the viewers see it in use. This IKEA video demonstrates how to install and assemble their Maskros lamp.

Narrative

Narrative video tells a story, and usually tries to trigger an emotional response. This type of video is usually seen in commercials, used to persuade customers that a certain product or service can do what the commercial shows, for example this love story told by an Extra Gum commercial:

Live

Periscope, Facebook Live, SnapStories, Instagram Live; the list goes on and on. Live video is becoming a standard for content creation. One of the most enticing parts of live video for social media is that it is inherently social. Rather than crafting a video to perfection you are inviting the audience to see a firsthand look into what you are doing. Great from streaming events, speeches, announcements and more, live video is what many are calling the biggest content marketing trend of 2017.

Bonus: Viral Video

Going viral is a goal for any brand looking to make a splash with their content, but there is no way to predict what the next big viral sensation will be. In 2016 there were the Apple music ads with Taylor Swift and Drake, Pokemon Go and the Chewbacca Mom video. Each of these is vastly different than the others, so how can you guarantee your content will go viral? The short answer is that you can’t, but you can work to create unique and engaging content that will connect with a larger audience and increase the reach of your post. So how will your business use video for social media?

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TED Talks: The Best of TED for Business, Tech, Marketing and More

Simon Sinek: How Great Leaders Inspire Action

“People don’t buy what you do; they buy why you do it. If you talk about what you believe, you will attract those who believe what you believe.”

Elizabeth Gilbert: Your Elusive Creative Genius

“I think it’s better if we encourage our great creative minds to live.”

Richard St. John: 8 Secrets of Success

“TEDsters do have fun working. And they work hard. I figured, they’re not workaholics. They’re workafrolics.”

Elon Musk: The Mind Behind Tesla, SpaceX, SolarCity …

“Through most of our life, we get through life by reasoning by analogy, which essentially means copying what other people do with slight variations. And you have to do that. Otherwise, mentally, you wouldn’t be able to get through the day. But when you want to do something new, you have to apply the physics approach. Physics is really figuring out how to discover new things that are counterintuitive, like quantum mechanics. It’s really counterintuitive. So I think that’s an important thing to do, and then also to really pay attention to negative feedback, and solicit it, particularly from friends. This may sound like simple advice, but hardly anyone does that, and it’s incredibly helpful.”

Tony Robbins: Why We Do What We Do

“My invitation to you is: explore your web, the web in here — the needs, the beliefs, the emotions that are controlling you, for two reasons: so there’s more of you to give, and achieve, too, but I mean give,because that’s what’s going to fill you up. And secondly, so you can appreciate — not just understand, that’s intellectual, that’s the mind, but appreciate what’s driving other people. It’s the only way our world’s going to change.”

David Carson: Design and Discovery

” ‘Don’t mistake legibility for communication.’ Just because something’s legible doesn’t means it communicates. More importantly, it doesn’t mean it communicates the right thing. So, what is the message sent before somebody actually gets into the material?”

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MONEY MISTAKES TO AVOID PART 2

Like we mentioned in part one, learning now to navigate the pitfalls of money management can be difficult. Here is the second part of money mistakes to avoid to secure your financial future!

EMERGENCY FUND.

According to CNN Money, 60% of Americans don’t have enough in savings to cover a surprise bill of $500 to $1000.  This is a bit alarming. Emergency funds make your life better by keeping you prepared and giving peace of mind. They also keep you out of the credit-debt payoff-rack up credit again-spin cycle.  Emergency funds make you feel more secure and financially empowered. Get an emergency fund. Even if it is just $1k to start, it will go a long way.

CREDIT CARDS DEBT

Even if you have a small emergency fund, it can be hard to resist the siren call of lucrative credit card reward points, travel points, and cash back. Many begin trying to leverage these cards without really knowing how to use them effectively. Only a handful of Americans have never battled credit card debt, which can be scary given that many also contend with many other types of debt especially student loans. Common habits are overspending, going on luxurious vacations, or using the card to fund an emergency. Research your cards, talk to a financial advisor and if nothing else, make sure to make all payments on time.

LIFESTYLE INFLATION

The hardest battle to fight is lifestyle inflation. You shouldn’t have to eat cereal and steal toilet paper from work forever. But it gets very exciting, very quickly when your standard of living goes up. Don’t give in too much. Lest you could wind up living paycheck to paycheck. Create a budget and try to live within your means.

EMOTIONAL MONEY DECISIONS

Of all the mistakes on the list, this is arguably one of the hardest to avoid because money is inherently emotional. And even if you’re normally great with money, nobody is perfect. Whether you move in with someone you won’t wind up with for the long haul, follow a significant other to a new city, go back to school, take a job that pays less because you think it will land you someplace better: these are all emotional money decisions. Risks. Sometimes these payoff, and sometimes they don’t. But these emotional money decisions are often the ones that teach us most about who we are, where we want to go, and what kind of life we want to lead. This in and of itself can be really beautiful, so live prudently when you can, but also go with your heart sometimes. Money be damned.

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MONEY MISTAKES TO AVOID PART 1

Managing money can often times have just as large, if not a larger impact on your life than the amount of money you make. Here are some money mistakes to avoid in order to keep your finances on track.

NEVER NEGOTIATING SALARY

Salary.com reports that 62% of people rarely or never negotiate their salary. The numbers get higher when you look at factors like race, gender, age and income level as well. The largest fears being the lack of negotiating skills, fear of losing a job offer and general unpleasantness of asking for more money. It’s daunting. Great times to bring up salary are during the hiring process, and then at annual reviews. But this salary will set the salary bar for all future negotiations. It is that serious. It’s never too late to start negotiating.

LIVING WITHOUT A BUDGET

Americans don’t get hip to the idea of a budget until later on in the life when it comes time to save up for something important, like a house, wedding, trip to Europe. etc. Many millennials also forgo budgeting because a record number of them are still living at home with mom and dad who are footing a large amount of the bills. Budgets are important for staying on track with your spending so that you’re A. only spending on what fulfills you most and B. contributing to your financial goals. No budget = higher susceptibility for making further financial mistakes… like more debt, and less money for retirement.

NOT CONTRIBUTING TO RETIREMENT

This is tough. I hesitate to call it a financial mistake and instead prefer to refer to it as a financial circumstance. Retirement saving is often seen as a luxury by multiple age groups. Millennials often are drowning in student loans, while Boomers have mortgages and other obligations. In this survey conducted by the Indexed Annuity Leadership Council in March and April of 2015, 37% percent have no money set aside, and those who do save have little, with 18% having less than $5k in the accounts. The earlier you start the higher the impact on future saving. Do what you can, when you can. Start small, and make sure to utilize any and all retirement benefits your employer gives.

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Building a Personal Brand

A personal brand is similar to a brand for your business, but building a personal brand has different benefits, strategies and reasoning. If you are looking to build your personal brand, these tips can help you to remain authentic to the image you are creating for yourself. A personal brand doesn’t even need to be something you are selling, it is simply a way to state who you are and remain faithful to that vision of yourself.

But first, why do you need a personal brand? This is a misleading question, simply because everyone already has a personal brand whether or not they have worked to cultivate it. Don’t believe it? Think of all the interactions you have had in your life and the impressions you have made. Take it a step further and Google yourself and your hometown. If you are on social media, many times your reputation will precede you. So, the important part of having a personal brand is the ability to showcase the most positive aspects of yourself and separates you from the rest of the crowd. This is how you can create a personal brand that will not only define the best version of you, but can also help to further your goals.

Identify Your Authentic Self

Don’t build a brand around the you that you want to be, as this can be too difficult to maintain. Instead, reflect your true self, and stay consistent with that image. Craft the wording in your social media and blog posts the way that you speak in videos and in person. Don’t change your core values to fit a standard you can’t consistently live up to. No one is perfect all the time. Be the real you and people will respect you for it, giving you even more influence.

Social Media

Social media is key to presenting an authentic version of yourself. Post what you like with your real voice powering the posts. Don’t post your meal on Instagram if you don’t feel a calling to do that, all that means is that it isn’t authentic to you. Brand authenticity is also important, so if you are running a blog about interior design you wouldn’t post a phone review. Consistency is key for building a successful brand.  

Networking

Meet others through networking events and get your name out into the world, find others to collaborate with and even make friends. This is a great way to present yourself as the brand you are working to craft in a professional way. Meetup.com is a good resource for finding networking events in your area.

Develop Value For Followers

Find your niche market and the value you specifically bring to it. If you are a makeup artist, you need to set yourself apart from the thousands of other makeup artists, whether that is by doing costume makeup, working with a specific product or specializing in one technique. By doing this, you cement yourself as an expert in this area, meaning that your name becomes synonymous with whatever it is you are doing, meaning more recognition as your brand gets more established.

Do What Feels Right for Your Brand

You can read thousands of blogs about how to craft the most successful personal brand, but that advice will not always be what works for you. If you are seeing return and not following every piece of advice that you see, or only following that which is useful for your situation then you are doing fine. You have full control of what your personal image is, so do the things that work to continue making your brand work.

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