7 Stocking Stuffers for the Serial Entrepreneur

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Maybe it’s the health of my two boys, maybe it’s the sparkly lights and inescapable sound of sleigh bells…maybe it’s the hot buttered rum (hiccup!). Whatever the cause, I’m feeling particularly generous this holiday season and am going to give you some entrepreneurial coaching for free. Stop worrying about what to buy your clients, employees, or investors. Here are seven fantastic items you, or the serial entrepreneurs and startups in your life, need now. As a serial founder, entrepreneurial coach, and an avowed tech junkie, each product below has been used, abused, and approved by moi.

  1. The Lean Startup by Eric RiesThe Lean Startup: How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses is a MUST for any entrepreneur, and really any manager who wants to work more effectively in an innovative organizational culture. Full of practical advice and case studies, Eric Ries creates a blueprint for allocating resources as efficiently as possible, suggests actionable ways to avoid product failures, and science-based methods to thoughtfully evaluate whether to persevere or to pivot. There is truly no better guide to improve the odds of a startup’s success. Furthermore, you’re going to need the vocabulary in this book to converse with other ‘treps, so get it!
  2. Google Apps. I have founded dozens of startup companies with only Google Apps as my IT infrastructure (literally). Google Apps for Work provides a variety of Google’s web productivity tools at a price point that is affordable for even the smallest budget. Since it your domain name, each application within the suite (Gmail, Google Calendar, Hangouts, Drive, Docs, Sites, etc.) is independently customizable to put your best collaborative (and branded) foot forward.
  3. LastPass. I refer to the years before I started using LastPass as the Dark Ages. Just think of all the time I wasted trying to remember every single login and password (or, gasp, using the same password on every site)! LastPass Password Manager is a convenient program to help you keep all of your login information secure without having to memorize it. I create really long, esoteric passwords for all my accounts and use the Share feature to share them with my Virtual Assistant (see #5 below). Delegation with security is a critical feature of my productivity.
  4. Freshbooks. If you want to make money (and you do), you have to bill your clients. Freshbooks does this easier and better than any other. There are a lot of online invoicing services out there, but none provide such ease of use on the important tactical tasks like invoicing and expense billing. I love the thing, especially on mobile. Sure it can create customized invoices and quotes, but the real genius of Freshbooks is in the extensibility. Don’t believe me? Here’s what Kathy Yakal at PCMag.com thinks, “Besides a host of add-ons, it integrates data with sites like Outright (Free, 3 stars). It incorporates time-tracking and support tickets, and it lets you upload documents to a shared area, something competitors don’t do. Basically, it does everything that everyone else does, and a lot more. Multiple subscription levels are available, ranging from free (three clients, unlimited invoices) to $39.95/month (unlimited clients and invoices).” You’ll want to pay for it just to get recurring invoices which saves a ton of time. Being able to see who owes you money, who has viewed your invoices, and quickly being able to mark who has paid is awesome. The graphs of your revenue are great, too.
  5. A Virtual Assistant. Without Ellen, my Virtual Assistant (VA), I would be a hamster stuck endlessly running in my wheel. Sure I’d be working hard, but I wouldn’t be getting anywhere. Virtual assistants are particularly well-suited for startup CEOs and serial founders because they’re easily reachable and are paid only for time spent on task; talk about using resources efficiently! With virtual assistants there is no overhead: no office space, no benefits to cover, no sticky HR policies, and on. I interviewed seven different agencies and went with Worldwide101.com. Check ‘em out and decrease your workload as a gift to yourself! I’m not kidding — Ellen pays my bills, orders clothing for my kids, and schedules all of my meetings. It saves me TONS of time and doesn’t break the bank. Do it!
  6. A sit/stand desk for better ergonomics. If you’ve paid any attention to health news over the last few years, you’ve by no doubt heard that sitting day in and day out at a desk is more detrimental to your health than smoking cigarettes. Fortunately, even if you need to be tethered to your computer for your business to be successful, there is something you can do. About two years ago I bought a sit/stand desk and have never looked back. It’s pricey but it’s amazing. I can crank the desk up and down and I have multiple monitors for making my work easy to see. I’m the envy of the office.
  7. Voxer. Back in the day, I admired the direct connect capability of Nextel phones, but man was that beep annoying! Enter Voxer. Voxer is a push to talk (PTT) free app for your smartphone that improves team communication, regardless of whether your crew goes iPhone, Droid, or Galaxy. Voxer offers its trademark walkie talkie function, but also includes a text function, a group chat (perfect for telling multiple people you’re running late), and the ability to save those walkie talkie audio messages for later listening (on the Pro plan). Have a colleague who can’t help herself from dropping the eff bomb (mine is a consultant living way up in Maine)? No worries. You can opt to disable the speakerphone function so you only listen to audio messages like a phone call. The ability to do asynchronous voice communication has saved me so much time and effort. It’s perfect for remote teams.

Why Should Your Company Adopt Social CRM?

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The following summary is from TechnologyAdvice, a free website service saving small business owners time on finding the right crm lead management software, marketing automation tools, SaaS platforms and much more.


In this Business Technology Whiteboard video session, TechnologyAdvice Content Manager Zach Watson covers the basics of Social Customer Relationship Management, or Social CRM. He outlines why all companies should care about Social CRM and the three general methods that companies employ when using social media as a customer relationship management tool.

Traditionally, CRM refers to collecting prospects’ data in order to better target them so as to get them into a sales funnel and move them toward a purchase. Social CRM is a bit different because on social media the customer, rather than the company, controls the conversation. Of the millions of social media users in the U.S., 90 percent expect brands to have a social media profile. The ones that leverage Social CRM the best are those that respond and take a “customer-centric approach” to meeting their consumers’ needs.

Often, companies believe that posting marketing content on Facebook, Twitter, or the dozens of other social media channels is enough. Yet 60 percent of American social media users expect companies to interact with them through social media. Consequently, companies need to understand and deploy Social CRM tactics in order to be effective and successful in converting social media follow to real-world dollars.

 

Three Methods for Social CRM

Social CRM can be broken down into three broad categories:

  1. Text Analytics and Social Media Monitoring - Using Social CRM software, a company can specify what keywords it wants to follow, whether that’s the name of its own product, the company name, or even their competitors’ names. The CRM tracks those keywords and alerts when the brand is mentioned online, allowing the company to see real-time reactions and quickly engage with social media users. Such online conversations help companies position themselves as experts in their field or as a helpful resource, as well as taking a proactive stance against negative feedback.
  2. Paid Media - This CRM method is more traditional in nature, though it takes on a modern look when social media is included. By using the data it has accrued about its prospects, a company can pay Facebook, Twitter, or LinkedIn to show highly targeted ads in users’ newsfeeds.
  3. Granular Data - Lastly, Social CRM can take advantage of accruing granular data about consumers and their habits based on the company’s social media interactions with its customers. A company can add social interactions to its list of email and phone interactions in order to gather a more robust view of its customers.

Social CRM can be an invaluable tool in a marketer’s toolbox, providing a customer-centric approach that allows companies to get to know their customers on a one-to-one basis. Social CRM isn’t just software; it’s a methodology that all companies should put into practice on a consistent basis in order to better serve their customers.

9 Ways to Measure Your Branding

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Question: How do you measure whether your branding efforts are working or not? What do you look for?

Using Fresh Web Explorer

“I measure our branding efforts explicitly with Fresh Web Explorer. I use it to track every mention of our brand and branded terms across the Web, including tweets, comments, forums, blogs, etc. It helps me discover conversations I wouldn’t have otherwise noticed, and it enables me to keep a pulse on the broader reach of our marketing campaigns.”

MATT EHRLICHMAN 
Porch

Seeing Strangers Recognize Your Logo

“Branding is an important part in marketing because it means you’ve made a personal connection with your audience and inspired some level of longevity for your brand. It’s not just about a number, but rather the feeling you invoke in your target audience. They say that if you capture their hearts, you have them forever. You know this when strangers recognize your logo or company during conversation.”

ANDY KARUZA 
SpotSurvey

 Using Google Analytics

“We use Google Analytics to check our branded keywords and how they grow weekly, monthly, etc. It’s a good way to measure branding efforts to see how many times people are typing your brand into the search engine.”

PABLO PALATNIK 
ShadesDaddy.com

Being Recognized

“It sounds simple, but the best way of knowing if your branding efforts are working is to ask someone to say (or spell) the name of your company. If fellow business colleagues, industry insiders or consumers can say or spell your company name correctly, then half of your battle is already won. Recognition is key to recall efforts.”

KIM KAUPE 
ZinePak

Talking to People

“If people are likely to get on the phone with you when you reach out — or better yet, if they are coming to you — then your branding efforts are working. We’ve seen a huge change in the last year of businesses coming to us instead of us reaching out because of the articles we’ve published that build credibility for our brand. “

KELSEY MEYER 
Influence & Co.

Asking for Feedback

 

“We directly ask our potential business partners and customer leads how they heard about us. I’m always asking for feedback on our creative work like mailers and infographics in every business-related meeting. It helps me to keep thinking about how to improve and open the conversation to learn what branding efforts other businesses are pursuing. “

PHIL LABOON 
Eyeflow Internet Marketing

 Checking Your Conversion Rates

“If your conversion rates have increased, it can mean that the same visitors who have never purchased before are now excited to get to know your product or service. Branding helps soft sell to potential customers who weren’t ready to make a purchase initially but might give your business a chance after repeated exposure. If your conversion rates go up, your branding efforts are not in vain.”

DANNY WONG
Blank Label

Tracking Leads

“We keep a very close eye on our metrics — particularly lead gen. If our subscribers, opt-ins and sales are increasing, we know that we’re doing a good job promoting our brand. We are particularly interested in tracking referrals from clients because we are intensely focused on providing excellent customer service. If our clients are referring friends, we know that we’re doing a great job.”

PATRICK CONLEY 
Automation Heroes

Seeing Company Growth

“We help our clients assess branding efforts through seeing increased leads, higher lead conversion rates, faster close rates, higher paying customers and overall company growth. If you aren’t hitting all four cylinders, get some outside expertise to help you!”

RAOUL DAVIS 
Ascendant Group

5 Common Mistakes Entrepreneurs Make On Social Media

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You’ve been hard at work all day on your startup; chatting with investors and developing a marketing campaign. You finally have a couple minutes to yourself and decide to log in into your social media outlets to post a status about your shiny new venture. Next thing you know, you’re completing BuzzFeed quizzes and cursing silently at your friends who just got back from vacation in Hawaii. Does this distraction validate all the naysayers who claim that entrepreneurs shouldn’t be on social media?

Absolutely not.

While it’s easy to get distracted or even depressed while browsing through a news feed, social media is an incredible resource for entrepreneurs. And what better way to communicate nowadays than through social platforms?

The problem then isn’t in the game, it’s the player. From investing time in the wrong platforms to over sharing, you can make many mistakes when it comes to your social presence. To help, I’ve outlined five things every entrepreneur should stop doing on social media.

1. Focusing on Your Past Accomplishments

We know that you’re proud of your past accomplishments, but you don’t have to share every single feat with all of your peers throughout all of your social media outlets. While you may be excited about your achievements — whether it’s that perfect GPA, that time you climbed Mount Kilimanjaro for charity, or the five previous startups you successfully launched — things are always better in moderation.

Instead of trying to constantly validate yourself, focus on the present and remember why you are on social media. Devote your time to mapping out a social media campaign for your current project so that it will lead you to future success.

2. Being Negative

To be brutally honest, no one wants to hear you complain. We all have those days; we all get sick; we all get frustrated and angry with something or someone. In other words, we all have problems and we don’t need our newsfeeds filled with negativity. That’s not saying that your nearest and dearest don’t care, it’s just that negative posts aren’t effective. In fact, studies have found that positive posts on Facebook are more influential and contagious — which is what you want on social media.

On that note, you also shouldn’t share articles that bash your competition or are overly political. By doing so, you’re automatically eliminating a good portion of your followers as most people don’t want to read political rhetoric or anything that opposes a brand for which they may also feel loyalty.

3. Too Much Talking, Not Enough Listening

It’s widely accepted that social media is a conversation; the whole point of being on social media is engaging with other people. Unfortunately, a lot of entrepreneurs are only on social media to talk rather than listen. Instead of just pushing your business, take a couple of minutes every day to find out what’s going on with your followers and engage them. For example, if someone just got a promotion, acknowledge that major accomplishment. This shows that there is a real person behind your account who actually cares about the people who are supporting their up and coming business.

That’s not to say that you shouldn’t be promoting your business at all. It’s just shouldn’t be all of the time. As a general rule, make sure that four out of every five communications on social media are non-sales or business posts. That doesn’t mean that your posts can’t be relevant to your field. They should just be content your followers can enjoy and engage with, like an infographic, video or list.

4. Not Taking Advantage of Tools

Did you know that there are a lot of great tools available that can optimize your social media accounts? If you did, why aren’t you using them?

For example, there are free or reasonably priced tools that can perform analytics. This is important because it can inform you which posts have gotten the most feedback, as well as show feedback from your followers. This can be a great way to test ideas without investing a lot of resources into research. While social media may not be the best way to perform high-level market research, it’s a start. It can give you some insight into the wants and needs of your customers.

Furthermore, there are tools that can schedule posts, create graphs and track your growth. Since there are so many options out there, we suggest that you check out these eight.

5. Promoting Multiple Things At Once

While I understand that there are literally a million things running through your mind (since “adults with ADHD are 300 percent more likely to be entrepreneurs”) you shouldn’t promote more than one business at a time. People will get confused. Instead, put all of your energy into the product or service that is ready to go. Once that’s been identified, plan and market only that product or service.

Although ADHD can be an awesome trait for an entrepreneur to have, it doesn’t exactly translate well on social media. So focus on just one venture in order to be clear and not confuse the market.

Improving the way you interact on social media can not only lessen your likelihood of distraction, but also enhance your business. Have you noticed any other social media mishaps from your fellow entrepreneurs?  

An entrepreneur and connector, John Rampton is the founder of Palo Alto, California-based Host, a hosting company specializing in helping businesses with hosting their website for free, for life.

The Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, YEC recently launched StartupCollective, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses.

The Startup Cult is Redefining Success (And Not in a Good Way)

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I often joke about the “startup cult” spreading across the world.

The coolness of entrepreneurship is on the rise, but so much of it is compartmentalized into just raising capital, getting some PR and having “founder” as your job title. Not he true nature of being a business owner, leader, and innovative thinker that is required to be truly successful.

While there are amazing organizations all over the world helping startups, sometimes is seems like many of them exist to salve egos, take advantage of wantrapreneurs, and look good on paper from an economic development perspective.

Accelerators and incubators are popping up everywhere, but with so many of the hardships of launching a company accounted for – seed capital, office space, mentors, business networks etc – why is the success rate of these companies not significantly higher than those bootstrapping? What truly is success?

Enter Startup Cult

The vast majority of businesses will never exceed $1 million in yearly revenue, and most currently operating were started with $5,000 or less.

The startup cult I’m talking about encourages and teaches entrepreneurs to raise capital and chase the billion dollar unicorn, but much less attention is spent on how to actually operate a business. Few people want to learn about how to deal with cash flow issues, employee politics, horrible clients, partnership conflict and so on.

Looking back at a decade of serial entrepreneurship, the hardships, rewards and disappointments, it disturbs me to see so many founders obsessed with, and feeling euphoric when, they raise capital. Not getting clients, not achieving growth goals or even making a profit, but getting investors to write them a check.

While a select few will become founders of legend, most will fail and some will become successful on a smaller scale.

What Is Success?

Don’t for a second think I’m saying you don’t have a billion dollar idea, or not to chase the dream. What I’m saying is there are tons of great small business ideas, and just because you “only” turn it into a million dollar company doesn’t mean you failed.

In reality the average household in America makes $54,000 a year with two incomes. Make $100,000 and you’re in the top 10%.

While in the short term it might not be as cool as chasing a billion dollar idea, in reality you have much greater probability of building a $1, 2, 3 million dollar company in a fraction of the time needed to raise capital, get to market, grow, and maybe have an IPO. Is the potential ROI massive, of course it is, but is it smarter to go for the single or double versus a home run?

This goes back to what truly is success? Is it making enough money you’re not worried about paying bills, having freedom to make your own schedule, spend time with family and friends, watch your children grow up, see the world, make a difference?

Or is it being one of the few with more money than you know what to do with, and going down as the Steve Jobs of your era?

What Does Success Mean To You?

It may seem like I’m saying you shouldn’t apply to an accelerator, that entrepreneur centers are a waste of time, not to raise capital or swing for the fences. Nothing could be further from the truth. The point of this article is to inspire entrepreneurs to look at life from a different perspective, and define what success means to them.

This is something you need to think about and let it become a serious foundation of your life. There are many ways to make a difference and to become successful.

Happiness and satisfaction with life is controlled by your own personal definition of success. What is yours?

How to Start a Career In Your 30s

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I stood huddled in the bathroom stall, texting furiously. My hands were shaking and my breathing shallow as I tried to screw up my courage to just walk out of the bathroom.

Outside the crowd grew, and I could hear the music kicking in. Everyone was arriving, ready for an exciting night. Me? I was stuck in the bathroom, too afraid to join the party, too proud to leave.

I really wish I could say this is a story about high school, but I would be lying.

This happened almost 2 years ago. I was 30 years old, and petrified of my first “networking event.” (It would be months before I even heard that term.)

In my defense, I had spent my 20s bearing and raising children. I always felt a vague dissatisfaction with my choice to stay home with my kids, but I hadn’t done anything about it. Now, thanks to a family friend, I was arriving at this “networking event” with a half-baked idea and the chance to “meet people.”

Obviously, I was terrified.

My story, like everyone’s, is unique, but in today’s fast paced world, reinvention is common. And jumping into any new venture, environment, or group can be difficult. I often still feel like I’m navigating unfamiliar terrain, but here are a few things I’ve learned since that first horrific night.

Network, Network, Network

And network some more.

I don’t mean the type of networking that has gotten a bad rap. Handing out business cards indiscriminately at every event isn’t the way to build a lasting network.

I mean a strong, deep network of people who know you and believe you’re capable of reaching your goals. It takes time to build a real network, but putting in the effort will be invaluable.

I recently witnessed the power of a deep network when a friend lost his job. The experience could’ve been a huge blow, both personally and financially. But, because he’s put in years of getting to know people and consistently doing good work, he hasn’t missed a paycheck. Dozens of people jumped at the chance to help him.

A strong network will help you flesh out ideas, guide your thinking, and create opportunities you could never imagine, much less create, on your own.

That night in the bathroom stall, I had no network. I knew one person at the event, and him not very well at the time. Now, 2 years later, when I’m feeling stuck on something, I have a long list of people who are willing to help me get unstuck. And, I still seek every opportunity to find and build genuine relationships with new people.

Shut Up and Listen

When you’re new to an industry, you don’t know anything. You might have some assumptions and theories and you may have spent hours researching on the Internet, but trust me, you’re mostly ignorant.

For a period of time, the best strategy is to shut up and listen to every conversation you can. This applies to virtual conversations on social media as well as in-person conversations with experts.

It’s tempting to want to jump into conversations before we’re ready, to prove that we can keep up. More often, though, listening closely to the debates and arguments that pop up will teach you more than you could ever learn from the Internet.

Along those lines, don’t be afraid to ask questions.

That night, I walked into a startup event and heard the terms “VC,” “angel,” and “the cloud,” for the first time. (Do “angels” live on “the cloud,” by chance??) A Google search cleared up some of my confusion, but I finally had to pull my friend aside and get some clarity on a few of the terms.

If you don’t want to look stupid (my problem), find that one person you can trust with your stupidity. The more questions you ask, the quicker you learn. People like to be trusted with questions, and asking them shows your respect and confidence in that person.

And like my friend assured me then, before long you’ll be the one people see as the expert.

Fake It ‘Til You Make It

This is one of my favorite pieces of advice, but I think it’s often misunderstood.

I don’t mean fake knowledge or expertise you don’t have. That’s a good way to lose the trust and confidence of the people around you.

Rather, I mean fake the confidence you don’t have until you have it.

You may know that you don’t know anything about your new field, but the people you’re meeting don’t know that. And even more likely, they don’t care very much. Act like your success is inevitable and before long, it will be.

I finally left the bathroom stall that night, by the way. Many of the people in that room became my first mentors and some of my best friends. Two years later, I’ve met more people and done more things than I ever thought possible while hiding in the bathroom, including selling my first company.

And, I think ultimately, that’s my most important piece of advice for someone looking to forge a new career in their 30s (or any time):

Quit hiding and get started.

A shot of Whiskey, a Shot of Espresso, and $22 Million from Andreessen Horowitz

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The following interview was conducted at Millennial Media’s Annual Developer Summit by Clark Buckner from TechnologyAdvice.com (they provide expert comparisons on the best crm solutions for entrepreneurs, marketing automation tools, project management platforms for small businesses, tech conferences and much more).

“No.”

“No.”

“Maybe.”

“Let’s wait.”

CEO and Co-founder of Skout Christian Wiklund was prepared for those answers. After all, he’d heard them before and he was pitching his social network to one of the most well-known venture capital firms in the world, Andreessen Horowitz.

Wiklund consoled himself with the fact that Skout didn’t necessarily need their investment. They’d already attained profitability, but who wouldn’t want to be invested in by that firm?

Following Wiklund’s keynote address at the Millennial Media Developer Summit in Baltimore, I spoke to him about that rapid-fire, 48-hour series of events that landed him in a pitch meeting with two of the world’s top venture capitalists.

 

Pitching from the Hip

Wiklund’s initial meeting with Marc Andreesson was to simply tell him about Skout’s upcoming fundraiser, an event still a few months into the future. On that particular Thursday night, Wiklund had no intentions to pitch Andreesson, but Wiklund had an 80-inch TV behind him during this meeting showing four key graphs outlining Skout’s health.

The numbers Andreesson saw in regard to revenue, daily active users, daily messages sent between users, and daily new connections caused him to call in his business partner Ben Horowitz. Andreesson then began pitching Horowitz on the site.

The next morning Wiklund received an email requesting his presence at a formal pitch meeting the following Monday.

 

Up on Deck

Over the weekend, Wiklund assembled a twelve-slide pitch deck to present Skout to the thirty or so venture capitalists he’d soon be seeing. His deck focused on three compelling areas:

  1. Robust Recent Activity - In the previous eighteen months, a majority of Skout’s tracked metrics had increased tenfold. With such an obvious uptick in engagement, Wiklund used these stats to convey an instant sense of credibility, growth, and possibilities.
  2. Core Identity - Investors want to know whether a company can sustain success. Consequently, it’s important for them to have an understanding of the company’s origin and history as well as the company’s value proposition for its customers (as well as its investors).
  3. Future Potential - Lastly, Wiklund focused on what the investors most what to know about: future growth. To that end, he described how Skout would continue to generate and grow their revenue, how the social media site would continue to increase their user numbers, and what the company would do to smartly increase the size of their team when necessary.

Out of the Park

For other entrepreneurs seeking venture capital, Wiklund offers a few pieces of advice: don’t give up, create a simple yet compelling pitch deck, and try as hard as you can to raise money when you don’t need the money.

What Fantasy Football Can Teach You About Hiring for Your Startup

American Football with the Field Beyond

My startup, Speek, raised our Series A funding in March, and we’ve had to grow rapidly since. Our product and engineering teams redesigned our in-call experience and launched screen share for our Pro and Business users. In the meantime, I’ve been putting together a strong team to launch our new conference calling service, Speek for Business.

You need more than one type of player to ensure your success. While drafting for my fantasy football league this year, I realized that there similarities between the strategic approach of putting together a strong fantasy team and evaluating applicants for a successful startup.

Great Resumes Don’t Always Matter

Every player in fantasy football has statistics that break down the player’s previous performance and can be used to rank against other players for specific positions. Just because a player has had great stats for the past year or two, doesn’t mean that he will perform well.

A great receiver on a team with an injured quarterback will probably not do well that season, but you wouldn’t be able to see this just from the statistics. Fantasy football fanatics will tell you to look past the stats and do your due diligence.

Startups don’t hire people based solely on their resumes. The ‘stats’ from resumes gives useful information about the candidate’s professional experience, but it doesn’t give the full picture. Not everyone is cut out for the startup work environment, and most importantly your startup’s culture. Work hours and responsibilities can change rapidly as the startup grows, which means people have to be very comfortable in a flexible (and sometimes chaotic) work environment.

Focus on asking the important questions during the interview. If you’re still not sure, then it’s time to call and question the references. Work ethic, ambition, drive and flexibility are all crucial factors of a strong candidate for a growing startup.

Hire for the Position

In fantasy football, you’re looking to hire top players who specialize in specific positions on the team: quarterback, running backs, wide receivers, etc. This translates well to hiring for a startup. When hiring, you should be looking for people with strengths that complement the weaknesses of the team. Just because you’re doing a little bit of everything doesn’t mean you should surround yourself with people doing the same.

Furthermore, if you have too many people who are jack-of-all-trades types, you’ll be facing a situation where your team doesn’t have any strengths in any specific areas. So before you think of hiring a salesperson who can also handle the accounting, you should take a step back and consider if the budget allows you to hire two people instead. You want to get the most value from each position.

Look for the People on the Rise (aka Sleepers)

Just because you have the best player on your team doesn’t mean that you’ll win the league. For every celebrity football player with a multimillion-dollar contract, there is a line of hungry players who have the skills, drive and ambition to prove that they are top-tier. While most people tend to focus on getting the top players for their team, fantasy football veterans are strategically looking for “sleepers” who will take their team to victory.

So look past the resume and hire for the team. Hiring an expert at the expense of your team can derail your chance at victory. Focus on hiring people who have the talent, drive and ambition to take their skills to the next level.

A startup consisting of over-performing and talented members can be contagious, and increase your chance of making it to the winner’s circle.

Danny Boice is the cofounder & president of Speek. Speek lets users do conference calls with a simple link (speek.com/YourName) rather than using phone numbers and PINs. Boice attended Harvard, is an adjunct professor at Georgetown, and was recently named a Tech Titan by Washingtonian Magazine. You can find Danny on Twitter@DannyBoice or on LinkedIn.

The Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, YEC recently launched StartupCollective, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses.

Serious Startups: The Nashville NEXT Awards

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We’re really excited for our friends featured in the NEXT Awards, hosted by the Nashville Chamber of Commerce and the Entrepreneur Center. There are some great companies and entrepreneurs up for awards this year.

But, is the fact that we even have an awards ceremony one of the warning signs of a bubble? I think so. What about you?

Yup. The World is Sexist. Moving On…

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Let’s face it. It’s not easy being a professional woman. There are assumptions, biases, and glass ceilings. You can be twice as good as the boy next door, but earn half as much. It’s common knowledge that when pitching VCs, women are judged on their past successes, while men are judged on their perceived potential.

The very traits that earn a man respect–assertiveness, confidence, laser focus–usually earn a woman liberal use of the “B” word. (Rhymes with “witch,” y’all.)

But, here’s why none of that fusses me too much:

Life isn’t easy. And of all the obstacles I could face, this one isn’t so bad.

In the early 1900s, immigrant entrepreneurs had it hard, too. They were in a society that–despite “give me your poor and weary” rhetoric–looked down on impoverished immigrants. Many of them were worse off than they would’ve been in their home countries.

But that didn’t stop Andrew Carnegie, John D. Rockefeller, or Cornelius Vanderbilt from finding a modicum of success.

Those men didn’t agitate for equal access. They didn’t form “immigrant only” business groups. They didn’t throw a fit on social media (or the op-ed of the newspaper) every time an idiot said something stupid about immigrants.

They built their empires. Then, they established foundations that made it easier for others (all others) to build theirs.

The greatest thing we can do to advance the cause of professional women is succeed. Build our empires, then turn around and help the next generation (men and women) follow in our footsteps.

I’ve by no means even begun to reach the level of success I want to, but I’m already helping younger women get a better start in entrepreneurship than I did. And, when we talk about how to survive as women in the world, here are some of the things I tell them.

 

Perfect the Fake it ‘Til You Make It

 

Frankly, I’ve realized that this is basically the only thing men have over women in the workplace: they’re first class liars.

And I mean that in the best possible way.

In general, men know how to make their successes look bigger and their failures look smaller. They also know how to act like they know what they’re doing when they really have no idea.

Women tend to want to be more honest and open. Which ends up looking more like weakness.

Stop.

Instead, get a clear picture of the woman you want to be, the successes you want to accomplish, then act like they’re already reality. Just like the men you know, when you start believing your own hype, you know you’re doing it right.

 

Use What Ya Got

 

My business partner publishes regularly on LinkedIn and has been busting my chops for months to do so as well. When I finally did, my second post garnered 3 times as many page views as his most popular one.

“Well, yeah,” he joked, “Because you got featured on the sexist group ‘Professional Women.’”

(Before you get up in arms, he was truly joking. While he badgered me to write more, he often said I would do better than him because I was already a better writer. Another tip for women: make the men around you your biggest fans.)

But, he was right about my ability to get featured in a popular category, and I’m happy to ride that advantage as far as I can, just like he would do for any strategic advantage he might come across.

Sometimes being the minority isn’t a bad thing. Who cares if you only got a role because they need a token woman. Kick ass in that role and the right people will start to take notice.

 

Understand the Invisible Game

 

I wish it were true that the world was 100% fair. But, like I tell my children daily, it isn’t.

While women shouldn’t spend their time raging against the system, it would be naive to act like the natural biases don’t matter either.

Remember, VCs typically judge women on achievements and men on potential. But, by nature of the startup pitch, there’s probably little “achievement.”

What does this mean to women entrepreneurs? You’ll either work hard to find the right investor, or you’ll have to (get to) bootstrap and maintain control of your company.

Study your surroundings. Know who your cheerleaders are and allow them to help you succeed. Learn the language and ways of the people you want to do business with.

And always, always find a way to provide real value to the people you meet.

Ignore the Assholes

 

Last but not least, no matter what you do or how the world evolves, there will always be assholes. No matter what they say, their actions will prove that they secretly think you should still be home in the kitchen. They’ll be rich and powerful, and you’ll think you can’t do anything without their approval.

You can. And you’ll be better off without them anyway.

That’s the best thing about being an entrepreneur. There is always a solution to a problem, and creativity flourishes under constraints. Work around the assholes–and the system–and that empire’s going to be built faster and more stable than you think it could be.

Finally, don’t assume that all men are out to keep you down. Most of us work in male-dominated industries, but 98% of the men I come across want to see me succeed and are willing to help me in whatever way I ask.

At the end of the day, things aren’t perfect, but we’re sure better off than we were 100 years ago.

Just keep building those empires. Brick by brick.

 

Be Like LeBron: Build Your Business at Home

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Where we grow up influences our ideas, imagination and relationships. Our home communities are the launching pads from which we explore the world, most often leaving to find the perfect place to live and work. This usually means moving to the city, leaving rural and small communities to slowly decline.

Fortunately, there is an alternative. We can build our communities to be the ones we want to live in. LeBron James just accepted this challenge, and you can too.

The Decision to Lead

LeBron James gave hope to communities everywhere by announcing he was returning to Ohio to play basketball for the Cleveland Cavaliers. Interestingly, his decision was to return home first and play basketball second:

“Before anyone ever cared where I would play basketball, I was a kid from Northeast Ohio. It’s where I walked. It’s where I ran. It’s where I cried. It’s where I bled. It holds a special place in my heart. People there have seen me grow up. I sometimes feel like I’m their son. Their passion can be overwhelming. But it drives me. I want to give them hope when I can. I want to inspire them when I can.”

In his open letter to Sports Illustrated, LeBron articulated a certain feeling of responsibility that many of us feel when thinking about our homes. Usually, we are too afraid to act upon this feeling:

“I have a responsibility to lead, in more ways than one, and I take that very seriously. My presence can make a difference in Miami, but I think it can mean more where I’m from. I want kids in Northeast Ohio, like the hundreds of Akron third-graders I sponsor through my foundation, to realize that there’s no better place to grow up. Maybe some of them will come home after college and start a family or open a business. That would make me smile. Our community, which has struggled so much, needs all the talent it can get.”

The Perfect Place

It’s easy to find the perfect place. You can quickly search the top cities in the world and shop for homes the way you would shop produce in the grocery store, choosing the one that is just the right size, color and flavor for who you want to be. However, it’s much harder to create the perfect place. Looking around your community and raising your hand to create change takes time and work. But it’s also incredibly rewarding.

Knowing that you were there when no one else was, sweating and creating change, creates your legacy and forces you to work harder than you thought possible. In doing so, you make more of a difference than you could have imagined.

The challenge of returning home and building your community is that it never ends. You never quite get things the way you want them; but that’s the fun part. When you take ownership in your city, you join an organic creation that is continually moving and changing. You are one of the leaders driving that change.

LeBron admitted as much when he said:

“I’m not promising a championship. I know how hard that is to deliver. We’re not ready right now. No way. Of course, I want to win next year, but I’m realistic. It will be a long process, much longer than it was in 2010. My patience will get tested. I know that.”

The Prodigal Path

LeBron’s decision highlights the prodigal path we hope our own children will take: exploring the world, mastering a craft and returning to share.

First for LeBron was the disastrous decision. As he admits in his letter, he would have done things differently if he’d had the chance, but he still would have left:

“These past four years helped raise me into who I am. I became a better player and a better man. I learned from a franchise that had been where I wanted to go…Without the experiences I had there, I wouldn’t be able to do what I’m doing today.”

Explore the World

Building a community does not mean you can’t leave. Quite the contrary. Our communities are best when new ideas are brought into them. It is thus essential for us to first explore the world and discover what is possible. For LeBron, this meant heading to South Beach.

For the un-athletic, this might mean going to college, traveling the world, working in the Peace Corps, volunteering for an organization, working a variety of different jobs, dating a variety of people, playing in a band, learning to surf or studying a new language.

Whatever your curiosity calls you to do, do it. Learn from it. Then, use your time in the world to master your craft.

Master A Craft

Once we discover our passion out in the world, we then need to work on it. It’s difficult to start something in your own community until you have perspective and experience on how it works.

LeBron needed experience working in a world-class organization so he knew what he wanted to build when he returned home. You might need time in a certain job, place or relationship before you have an idea of what you want to dedicate your time to building.

Share Your Discoveries

The final step of returning home is always the most difficult. Most of us believe it’s not possible. Fortunately, now more than any moment in history, we can live anywhere and connect with others everywhere.

This presents a new opportunity for communities around the world. The top talent can live in your city and still work with clients anywhere or learn from colleagues and collaborators everywhere. What’s more, these returnees come with a wealth of experience. They have explored the world, discovered a craft and now they have returned to share what they have discovered.

As we master a craft, we need to ask ourselves: Can I bring this skill back to the place that matters to me? How can I share my knowledge and passion with those who matter most?

Some industries pose interesting challenges. There are only 30 NBA teams, so we can’t all return home to play for our local one. The vast majority of us, however, have no excuse.

  • If your community doesn’t have the business or industry you want to work in, build it.
  • If your community doesn’t have the cultural scene that you long for, nurture it.
  • If your community doesn’t have the people you want to spend time with, invite them to join.

What’s amazing is that a tiny number of people who care about their community can inspire massive action.

By returning home and building the community you want to be a part of, you are showing others that it is possible. You are proving that it is not hard to start. Your bravery in starting means that others will follow suit. This is how change happens and this is how movements are started.

The Return Home Revolution

LeBron may not have single-handedly launched the return home revolution. He has, however, validated the desire many of us feel: the calling to return home and make our community better.

As in Northeast Ohio, so is it in communities around the world:

“In Northeast Ohio, nothing is given. Everything is earned. You work for what you have.”

Fortunately the hard work is part of the reward, and the amazing things you build will influence the generations who follow. As LeBron said: “I’m ready to accept the challenge. I’m coming home.” Are you?

A version of this post originally appeared on the author’s blog here.

Scott Meyer is the “brofounder” (co-founder and brother) of 9 Clouds, a digital marketing and education firm that improves the digital literacy of businesses. He writes and hosts the Digital Homesteading blog and podcast focusing on growing rural business and community and is the author of “Navigating Social Media: A Field Guide.”

The Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, YEC recently launched StartupCollective, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses.

How to Deal with Differences In Entrepreneurial Vision

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On occasion I like using similes to make a point or start conversation. So to start things off on dealing with differences in vision for business growth, let’s think about this:

“All Roads Lead To Rome” is like “There Are Many Ways To Reach A Business Goal.”

Are there many ways to grow a company? Of course there are. Just because you spend marketing dollars on Adwords versus traditional marketing doesn’t mean you will grow faster or slower. Hiring Employee A instead of Employee B could be a good decision or a horrible one.

People often look at these decisions only from the short term benefit or drawback, but how these decisions are made generally comes from underlying vision for the company as a whole.

In business, the debates behind closed doors on why moves are being made is generally how they fit into long term vision for the company. These arguments can lead to chasms between partners, employers and employees. Simple decisions create massive conflict.

Speed Of Growth

One of the most common sources of conflict is speed of growth. How aggressive should you be in marketing, gambles in expanding overhead vs cash-flow, or shifts in pricing structure.

Generally there can be logical argument for both sides of these debates. The more conservative want slow growth, the aggressive say “let the dice roll, we’ve got this.”

Unfortunately, in business there are opportunities presented which require quick, decisive action. While there may be no risk in refusing to take advantage of them, for entrepreneurs wanting to growth and expand quickly, not being able to get everyone on board to make a gamble creates doubt about the long term.

While you might compromise on one decision, when you see a competitor whoseized it and is reaping the benefits, disagreement on future decisions grows rapidly.

The evidence supports my decisions, why won’t they listen to me?

This will run through your mind over and over, until you find yourself rather irritated and speaking out with aggression.

Enter Conflict

Because the business is more than just a job to entrepreneurs, it’s amazing how quickly differences in opinion escalate into personal attacks. Rather than just debating until finding a good compromise, personal egos rise and it’s now my way or the highway.

Tensions rise, friendships are destroyed and business partnerships become fragile.

When clients, investors or employees begin to sense these conflicts, it’s a normal and quite frankly reasonable to lose confidence and begin looking for alternatives.

Addressing Differences

When these issues arise, you have 4 options You can either be adults on both sides and fine the right choice, or have no excuse for the outcome.

  1. Trust Your Partner
  2. Find Compromise
  3. Go Separate Ways
  4. Destroy Your Company

In my opinion, the only logical choice is a combination of trusting your partner and finding compromise. If this can’t be reached, then going separate ways is the only alternative. This doesn’t have to be abrupt, but if you don’t do this then destroying the company is going to happen.

It may take time, but your fall will be much more difficult to overcome, and can destroy opportunities for the future.

Turning Conflict Into Success

Having conflict is very normal in business. Arguments about the next steps in growth and finding agreement in what are the long term goals can be very hard, but it also provides an opportunity to build a stronger relationship.

If you are willing to put aside your ego and view these conflicts as a way to collaborate, finding an even better option is often the outcome. This just requires willingness of everyone involved to not always be right. To put the needs of the company and all those who follow you before your own.

When you do this, overcoming conflicts, finding better options and achieving success as a team becomes much more likely. It’s just a matter of suppressing ego.

All roads may lead to Rome, but aren’t road trips better with friends?

These are just a few things to think about in resolving business conflicts. Share your experiences and ways you’ve been able to solve problems. with others in the comments below!

Entrepreneurs: Ready, Set, GO!

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Ever feel like you have the pedal to the floor, but the wheels are just spinning?

As an entrepreneur that is a very common feeling as our minds race and the roadway to accomplish our goals is so clear…and yet so far away.

Is there a time to plan? Yes. Is there a time to be patient? Yes.

I talked about this is in “The Harsh Reality of Launching A Startup” and “Do Good Things Come To Those Who Wait.” It’s very important to not push too far too fast, but it’s just as important to identify when the time for planning and patience is over. Go full bore and let the chips fall where they may.

Fortune Favors The Bold

In business, war, politics or love, there is always a time to take action.

As an entrepreneur, whether it’s your first go or 10th, take the time to get idea validation from potential customers and people of merit, put together your plan, then go for it.

Angel investor Pradeep Jaisingh wrote a great article “When An Investor Says “NO” To Your Pitch” which is all about how to respond to the negatives around you as an entrepreneur and to never give up. No one is right 100% of the time, and that goes for investors as well.

There will always be those around you who want to go slow and not take too big a risk, but in truth, every day in business has risk. Each day you hold back pushes the day you reach the mountain summit back. Each day that goes by is one less day we have on this earth.

When Opportunity Knocks…Answer The Door

So often people with great ideas miss opportunities to make a difference. Fast forward 5 years, and they get to hear about how Person X just sold the company or are in another phase of expansion.

We live in a world of simultaneous discovery. This is reality, and we can either accept it or live to regret it. When the stars seem to be aligned in your favor, stop looking for why you should play it safe and just go for it.

Everything is business is a leap of faith, but you must remember that none of us know what tomorrow will bring. As employees or entrepreneurs, nothing is guaranteed.

Go Ring The Bell

You’ve made a plan. Validated the idea. Prepared for the unknown. It’s time to take the leap of faith into entrepreneurship.

Get out there and join all those who have come before you. They’ve all experienced the same burdens and fears, stresses and failures before finally getting to ring the bell when their dreams came to life.

We live in a world of opportunity. So Entrepreneurs: Ready, Set, GO!