8 Secrets of Success
Looking for the secret to success? Aren’t we all? Well, Richard St John boils down the secret to success in 8 words and three minutes in this video.
Who is Richard St John?
A self-described average guy who found success doing what he loved, Richard St. John spent more than a decade researching the lessons of success.
So What Are The 8 Secrets?
John has 8 words that he thinks are the main attributes to success. The “magic” words are:
1. Passion
2. Work
3. Focus
4. Persist
5. Ideas
6. Good
7. Push
8. Serve
He goes into detail on each, and describes why they are important, how they relate and play off one another. Well worth 3 minutes of your time, in my humble opinion.
Running Time: 3:33
Source:
http://www.ted.com/talks/richard_st_john_s_8_secrets_of_success.html
Have your own secrets for successs? I’d love to hear them in the comments section below
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Top Ten Ways To Grow A Business In A Recession
The following guest post is from Neil Belenkie, who lends his expertise on steps businesses can take to not only survive the recession, but thrive in it. Here’s his top 10 ways to grow your business during tough economic times.
1. Budget Responsibly
This is not the time for frivolous spending. 60 inch plasma tvs are not a priority, no matter how cool they would look in your foyer. Make absolutely certain that every dollar you spend is directly related to generating revenue for your business.
2. Make Knowledge-Based Decisions
Don’t use intuition when it is possible to use facts. It will take extra work, but when you have data to base your decisions on, not only can you measure the success of your decisions but you can remove the risk of uncertainty.
3. Be Strategic
Success is not luck. Think hard about why your customer would want your products or services. The marketplace has evolved, make sure that your message is relevant and that your communications resonate with your target audience.
4. Be Unique
Do not try to be all things to all people, be all things to a few people and they will all buy.
5. Innovate
You need to find new ways to make money. Create new applications for your existing products, find new customers who would benefit from your services, find new products that your existing customers will also need… Do not accept that what you’re currently doing is all that can be done.
6. Partnerships
Figure out exactly who your customers are and then think about where else they are purchasing their products or services. Approach the providers of these other products and services and create partnerships where you can refer customers back and forth between your businesses. Their company is not competitive to yours so it is in both of your best interests’ to make this work.
7. Plan Well
The marketplace has changed, is your business plan still relevant? Spend time analyzing how your customer’s need have changed and ask yourself if you have changed with them. If not, you need to make sure that you have a plan to bring your business up to date. If you are doing well, then make sure you have a plan for the next phase of this evolving marketplace. Stay ahead of the wave and the water will always be ripple free.
8. Invest in Low Risk ROI Opportunities.
Money is tight but that doesn’t mean that you can afford not to spend. Keep seeking out new business opportunities. With each opportunity, assess the investment versus the forecasted revenue and don’t be afraid to go after an opportunity when the numbers work.
9. Create Multiple Revenue Channels.
If you are only doing business through your store, you need to find new ways to access your customers. Start an online business where customers can purchase your products remotely. Hire sales representatives who can take your products to the customers instead of waiting for your customers to come to you. Find other companies to sell your products for you. More access to customers equals more sales.
10. Do it Now
Your business will not turn around on its own and every day passed is another day of lost revenue. Commit to making changes now.
Author Bio:
Neil has spent more than 15 years as a sales, marketing, and business development executive in multiple industries. He has served as a consultant with Ray & Berndtson Executive Search in Vancouver, and also co-hosted a radio show in Vancouver called “Grow Your Business”. Neil is active in the non-profit sector serving as a Board Member of the Vancouver Biennale.
Keep up with all that Neil is doing on his blog, This Spade is a Spade.
What do you think? Anything you would add/subtract from Neil’s list?
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Photo Credit: Darwin Bell
Top 10 Must Have For a Start-up Success
What are the ten things start-ups need to be successful? According to Frank Levinson, it’s the following.
And Frank may know a thing or two about start-ups, considering he founded Finisar in 1988 with $60,000 and 12 years later hit the Forbes 400 list of richest Americans.
10 Must Have for Start-Up Success
- Spending everything on a good team and equipment
- Letting people know the company is in business
- Raising limited capital
- Taking stock of a company and determining its needs
- Being open to opportunities
- Having a supportive family
- Targeting mass markets, not just niche markets
- Having confidence in new ideas
- Acquiring and selling to real customers
- Choosing a great partner
Did Frank cover the essentials for start-up success? Let me know your thoughts in the comment section below.
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5 Quick Reminders for Running a Successful Business
Recently I attended a conference on special event management, and the keynote speaker focused on the 5 elements to a successful event.
While this information was geared towards event management, I couldn’t help but see similarities between what it takes to run a successful event and run a successful company.
None of these things could be considered “hard” to do, but they are easy to forget…so here’s your reminder:
Have Passion For What We Do.
We’ve talked about passion many times in the past, but it always keeps coming back to this doesn’t it? Passion is paramount to success for two reasons
1) If you have passion for what you do you’ll more likely stick it out through the lean times – and there will be lean times – and give yourself a chance to see your venture through to success.
2) People you do business with will feel your passion, and be attracted to doing business with you.
Why do you think Gary V is so successful talking about wine? 1000’s of people out there talk about wine for a living, but people are drawn to Gary because he truly loves what he is doing and his passion is contagious.
Understand the Importance of Customer Service
Whether you are giving your customers pickles, or going out of your way to make each person feel special, there is no substitute for quality customer service. Remember the goal in customer service is not to treat the customer how you’d like be treated, but to treat the customer how they’d like to be treated.
Have a “Whatever it Takes” Attitude
You have to be willing to do whatever it takes to move your business forward. If making that speech or driving across town is what you need to do make a sale – do it.
Delight and Dazzle Customers
The truth is many businesses are so bad people have low expectations to begin with. It doesn’t take a whole lot to stand out from the crowd and really “WOW” somebody. Just do what you do 5% better than your competitors and you’ll get 50% more business – exceed customers expectations, and they’ll be buzzing about your business.
Recognize the Importance in Everyone
In the event world this is your staff, volunteers, vendors, guests, etc. But in business you have to understand that everyone your business touches is important and plays a role in your eventual success or failure. Treat people like partners, not tools or stepping stones on your way to the top.
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Be a Better Leader in 60 Seconds
If you have sixty seconds to spare today, this short e-book will make you a better leader.
True, the book is 25 pages long and it would take you longer than sixty seconds to read that much – however, everything you really need to know about leadership is summed up on the first page.
The 60 Second PHD in Leadership
Think back on the best boss and the worst boss you ever had:
1) Make a list of all the things they did to you that you abhorred
2) Don’t do those things to others – EVER
3) Make a list of all the things they did to you that you loved
4) Do those thing to others – ALWAYS
With this information alone you have 99% of everything it takes to be an effective leader.
Have Longer than 60 Seconds?
However, if you have a bit longer than 60 seconds today I encourage you to read the rest of the e-book to pick up even more tips and insight into what it takes to lead effectively. It’s not as hard as you may think.
What’s Covered?
Some highlights from this succinct book include:
- What is a leader?
- Leadership – probably not what you think it is
- Leaders don’t create followers
- Great leaders tell three stories
- Don’t get hung up on too many targets and measures
- And many more…
The Little Book of Leadership
Tip: Use full screen mode to view
The Little Book of Leadership – Get more Business Plans
What do you think it takes to be a great leader? Let me know in the comments
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Three Pillars for Word of Mouth Success
This is part two in our series on Getting Word of Mouth Marketing to Work for You. Be sure to check out part one and get caught up!
We started the conversation yesterday on how powerful and cost effective word of mouth marketing can be.
Today we want to look at what goes into a successful word of mouth marketing campaign, what factors you’ll need to be successful, and then we’ll discuss the elements you can implement to make word of mouth work for you.
What is the Goal of Word of Mouth Marketing?
Simply put, your goal with any word of mouth marketing campaign is to get conversations started and shared about your product or service within your target consumer market.
Everything you do from a word of mouth marketing perspective needs to support that goal. Plain and simple.
You want consumers talking about your product, sharing their experiences, and selling for you in the course of their everyday conversations.
Once you understand this, the only other questions become:
1) Why are they having the conversation?
2) How and where are the conversations taking place?
Answering those two questions, with the goal in mind you want the conversation to be about you, sets your entire word of mouth plan into action.
Three Pillars for Word of Mouth Success
The first question was 1) Why are the consumers having the conversation? The answer is due to at least one of the following three pillars. The most successful word of mouth campaigns will strike on all three of the below.
Content
Your content is the key to your message, and will be the foundation on which word of mouth is spread. Without killer content, you’re sunk.
What do we mean by content? Content is what you produce, what you sell, what you want people to buy. Awesome products, services, and delivery methods will get people talking.
Unless you know why your product is superior, or what makes your service special, you will never be able get your consumers to sell it for you.
Think for a moment – when was the last time you were excitedly telling a friend about an average product? It doesn’t happen, and it won’t happen for you. Know what makes you special, what sets you apart, and what your consumers will tell their friends about what you do.
Shareability
Maybe I just made that word up, but the point is how easy it is to share your content, and your message, will partially determine your success with word of mouth marketing.
There are numerous ways in which something can be shared. Verbal, face to face conversations. Physically giving your content to another person. Emailing, or digital dissemination. All are ways in which we share, or converse.
But why would a consumer share your product or service?
- It tells a story they can relate too
- Illicit a feeling or emotion
- The benefit or experience one would gain is obvious
- There is a shared understanding of it’s importance (and importance could be any utility it provides, whether it be functional, emotional, humor, or practicality)
Tell me a story that I will feel good retelling. Have a product that hits an emotional chord with me. Sell me a benefit, or an experience. Those are going to be easy for me to share.
Call to Action
The final pillar to a successful word of mouth campaign is a call to action for your consumer. What do you want them to do?
In this case it’s spread the word, and many times it can be as easy as asking them to. Most successful word of mouth happens due to the consumers being told it’s “okay to share” in one form or another.
Don’t let your marketing efforts fall flat because your consumer doesn’t know they are supposed to be spreading the word! We’ll touch on some specific ways you can “ask” them to spread the word in upcoming parts to this series. For now just understand that without a call to action for the consumer, you risk the chance of them not knowing what their next step should be.
Putting it All Together
Once you understand the goal of word of mouth marketing is to get your consumers talking about you, and you understand why those conversations are happening, the final piece in getting this to work for you is to look at how and where those conversations are taking place.
You want your word of mouth campaign to infiltrate where the consumers live, and be communicated in a manner that they want to hear. This is where the rubber hits the road – and is the next part in our series…
Up Next:
Elements in a Successful Word of Mouth Campaign
- Understanding social networks
- Using the influencer
- Social media’s role
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Five Critical Skills That Entrepreneurs Need
What are the five critical skills entrepreneurs need in order to be successful?
According to serial entrepreneur, executive, technical innovator, and author Jerry Kaplan it’s the following:
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Skill 1: Leadership
An ability to build consensus in the face of uncertainty.
Skill 2: Communication
The ability to keep a clear and consistent message.
Skill 3: Decision Making
Or more importantly, knowing when to make a decision.
Skill 4: Being a Good Team Player
Knowing when to trust and when to delegate.
Skill 5: Ability to Telescope
To focus in on the details and then move back to the bigger picture.
Running Time:8:59
Source: http://edcorner.stanford.edu/authorMaterialInfo.html?mid=366
Did Jerry hit on the critical skills needed to be an entrepreneur? Let me know your thoughts in the comment section below.
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Google’s 5 Tips for Entrepreneurs
Google co-founder Larry Page provides several tips for entrepreneurs.
Below these follows a short 4 minute video in which Larry explains his five tips in a bit more detail.
Tip 1: Don’t Settle
Very important to pick the right people to be involved with your startup. Take your time, and get the right people – great people who are compatible.
Tip 2: Be a Real Expert
Know as much about your product or service as you can before you begin building your business. Be an expert, take the time to learn.
Tip 3: Consider Your Goals – And Set Some!
First, have a healthy disregard for the impossible.
Then set stretch goals that are going to be very hard to achieve, but not outlandish. Be specific in what you want to accomplish, and don’t be afraid of setting very aggressive goals.
Lastly, ensure you are measuring your progress towards your goals. You can never measure too much.
Tip 4: Don’t Be Afraid to Solve Hard Problems
There is a lot of leverage and bang for your buck in solving a hard problem with your business. What’s nice is the problem may be hard for your customer, but easy for you to solve. Go after those hard problems and fix them and you will be rewarded.
Tip 5: Don’t Jump on a VC Bandwagon
Don’t just start a company because it is popular or in vogue at the moment. A great business idea will be the one that gets the funding. Larry mentions that they rarely fund a deal, possibly as few as 1/year. So there are a lot of ideas chasing limited money. Only the best will get the VC attention.
Running Time: 4:31
Source: http://edcorner.stanford.edu/authorMaterialInfo.html?mid=1076
Have your own tips for entrepreneurs? I’d love to hear them in the comments section below
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