Expressing Your Creative Passion With Polarr

polarr

A group of creatives and techies with passion for visual expression decided to create a web tool their fellow creatives to express themselves, without losing the fidelity of their creative desire and inspirations. This turned into Polarr.co.

While there are many tools online for making basic modifications to photos, Polarr actually learns from the unique style of each user,and performs recommendations and customized renditions of their photos in a high quality and production ready environment.

Since most creatives, or Polarrians as they like to call their users, would much rather spend their time at photo shoots, coming up with new aesthetic angles, and interacting with their cusomters, creating a tool to shorten the time needed for post-production is the primary focus of Polarr.

I have personally used the system and found it to be very easy to use, enabled me to create some fantastic images (I’m a horrible photographer) and the best part, it’s easy to use. So many tools out there are so complicated it take more time learning how to make basic modifications, I’d rather just pay someone else to do it. With Polarr, you can quickly and easily make great things happen without wasting time or money.

Professional creatives will find this a great tool to increase their productivity, and people like me with creativity thought but not the talent to turn into reality, will love what Polarr is doing, and their approach to technology and creativity.

They’re a relatively young startup, so go check them out and share with your friends!

10 REASONS WHY EARLY-STAGE COMPANIES NEED MANAGEMENT CONSULTING

Smiling business people having a meeting in conference room

Management Consulting: Not Just for Established Businesses

Although entrepreneurs in start-up mode commonly think that management consulting is utilized only by businesses that have established themselves or grown to a significant size, the truth is that early-stage companies can benefit from management consulting a great deal. While I’m clearly an evangelist for business consulting services, having seen firsthand how they can turn things around for troubled companies and help new businesses get off the ground, I don’t think I’m too biased when I say that the start-up phase is one of the times when management consulting is most useful.

The purpose of management consulting is largely to offer advice. And who can really afford to turn down the advice of a seasoned professional? Certainly not entrepreneurs who are growing a business from scratch – even if they’re experts in their industry. There’s always value in having someone review your plans, offer second opinions on ideas and help identify areas for improvement.

So here are 10 reasons why early-stage companies especially can benefit from management consulting.

1. Management Consulting Helps You Keep up with Changes

Businesses, old and new alike, existing in an ever-changing landscape. What’s relevant, timely and appropriate one day can be tired, outdated and inefficient the next. A good business consultant stays abreast of fluctuations, from market instability to technological improvements to changes in standards or best practices, so entrepreneurs can stay focused on their primary goal: launching successfully.

2. Management Consulting Provides Honest, Unbiased Feedback

An entrepreneur will get glowing feedback about his idea from family, friends and even his professional networks. Before you know it, he starts thinking his concept is foolproof. But truly unbiased and actionable advice is hard to come by unless you harness management consulting to take a look at the big picture. You’ll get feedback not only about the concept behind your business, but about the details of execution, organization and other critical matters. At Shared CxO, we pride ourselves on having outsourced executives who offer completely honest advice without the personal agendas or blinders that entrepreneurs will encounter when seeking feedback from others.

3. Management Consulting Solves Problems

In my experience working with incubators and interacting with entrepreneurs daily in the busy start-up scene in San Francisco, I’ve seen plenty of entrepreneurs hit brick walls at critical moments in their business’s development. Whether the obstacle stems from a lack of planning, a lack of research, a lack of knowledge about a particular facet of business or something else, I’m positive that management consulting can help frustrated entrepreneurs solve problems. And the more experienced an executive is, and the more diverse his background, the quicker he can untangle even the most complicated issues facing early-stage companies. That’s why we’ve cherry picked only the most seasoned business veterans to work with our clients.

4. Management Consultants Love Forward Momentum

Management consultants simply love to see a company grow and achieve its goals. As such, an outsourced executive providing management consulting is incredibly motivated to help entrepreneurs overcome issues and move forward with their plans. They triumph when the start-up’s off the ground. And it’s easy to get caught up in this excitement. It’s one of the reasons I love working with early-stage companies!

5. Management Consulting Teaches Entrepreneurs Valuable Lessons

A good management consultant doesn’t just drop by, solve everybody’s problems and disappear. In management consulting an executive guides entrepreneurs through the process of finding solutions for the stumbling blocks they encounter. Entrepreneurs actually learn from the engagement, and become better equipped to handle issues in the future.

6. Management Consulting Helps Entrepreneurs Stay Focused and on Deadline

Because of the sheer amount of activities involved in starting a business, it’s easy for entrepreneurs to lose focus unless guided. Management consultants can keep entrepreneurs laser-focused on the tasks at hand. Management consulting also involves prioritizing activities so that entrepreneurs have a step-by-step walkthrough for what has to happen before the big launch. I’ve also seen entrepreneurs lose track of time or spend too much time on one particular aspect of business, at the expense of others. Business consultants can keep things running on time.

7. Management Consulting Involves Top-to-Bottom Analysis

Quality business consultants leave no stone unturned when analyzing an early-stage business – from the initial concept to the business plan, market research, company structure and organization, and post-launch next steps, management consulting examines everything holistically. Management consultants, as experienced executives, catch overlooked aspects of starting up a company. They’re a second pair of eyes and ears to watch things carefully.

8. Marketing Consulting Sets Companies up for Branding

One of the biggest challenges for start-ups is simply being discovered. Brand awareness comes with tremendous time and effort, and often financial investment. Part of management consulting is teaching you how to plan an initial marketing campaign that gives your brand a shot in the arm. You’ll learn the channels that will produce the biggest ROI and how to create a scalable, practical plan so that you don’t exceed budget or spend too much time on a potentially fruitless activity.

9. Trust is Implicit in Management Consulting

I completely understand the “play your cards close to your chest” attitude that some entrepreneurs adopt from the get-go. Nothing could be worse than investing time, effort and money in a unique business idea, only to find parts of the idea or the idea in whole stolen by someone with more resources to make it happen. But in management consulting, an outsourced executive honors privacy without question. Entrepreneurs don’t have to worry about details of their business plan leaked – everything is kept strictly confidential, which is not always the case if you appeal to peers or professional networks for advice.

10. Management Consulting Dots I’s and Crosses T’s

With a management consultant on board, you’re no longer solely responsible for everything. Management consulting involves quality assurance and identification of areas of improvement. While entrepreneurs still need to be vigilant, with an executive on their side to help make sure everything is complete, correct and ready for the next stage of growth, they can have peace of mind.

Ready for Management Consulting? Take a look at our CEO advisory and outsourcing services and browse our membership packages, or contact us to discuss your needs.

How to Deal with Differences In Entrepreneurial Vision

3bacaea

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!

Why I Came Out of the Mommy Closet

21f9ee1

I have a dirty little secret.

I’ve spent years–well, not hiding it exactly. Just choosing not to showcase it.

But, now it’s time to air my dirty laundry. So to speak.

I’m a mother.

Yup. That’s it. My big secret. And you’re probably wondering why it’s even such a big deal.

Even though I’m proud of my 3 boys, I put a lot of thought into whether or not to incorporate them into my professional life. There are several reasons any woman would consider the same choice I made.

You’re Just Starting Out

There are lots of women who successfully make a name for themselves as a mom. They build blogs or businesses around having a family.

For these women, being loud and proud about motherhood is essential to their personal branding.

But, for women building businesses apart from their families, it can be distracting to talk about motherhood. One friend who is a partner at a venture capital firm told me that she loses Twitter followers every time she tweets about parenting.

In the era of social media and personal branding, you have to think long and hard about what you share. If talking about your family dilutes your brand, it might be best to keep quiet.

That Pesky Glass Ceiling

Like it or not, there is still a glass ceiling for most women.

Draw attention to your uterus and watch that ceiling drop even lower.

In our Serious Startups episode on parenting, Kane expressed surprise that this is true in startups as well as corporate culture.

“There are no rules in startups,” he said incredulously.

But the harsh reality is that there are rules in everything. Startups are a tough environment for mothers because the very nature of entrepreneurship is all-consuming. There is no time for “distractions,” even if they’re cute.

A quick survey of the startup tech scene reveals 2 main demographics for both founders and investors: “men” and “women without children.”

There are exceptions, of course. But, in general, moms starting a non-family-focused business face a huge uphill battle both practically and reputation-wise.

Keep Your Privates Private

The first 2 reasons I’ve talked about can be overcome with time and success. After a certain level of accomplishment or proving yourself, it’s rarely a big deal to reveal your secret.

This last one, though, can apply to moms at any level.

Sometimes, it’s just nobody’s business.

Imagine how awful it would be if everyone had access to all the cute/horrible pictures and stories from your childhood. A simple Google search would show employers pictures of 2-year-old you being potty trained or your mom’s tweets about the time you ate dog poop. That’s reality for the next generation.

Many moms choose to keep their motherhood quiet in order to give their kids a clean digital record.

(FYI: Even though I’m now out of the closet, I still won’t ever publish my kids pictures or names.)

There Comes a Time In Every Mom’s Life…

There are several great reasons for moms to stay quiet about their kids. But sometimes, it’s time to come clean.

As we talked before filming the parenting show, I realized how many women share my dilemma. We’re entrepreneurs, we have kids, and sometimes both of those things work together. Sometimes they don’t.

Either way, it can be isolating–even more than typical entrepreneurship. Admitting my “fatal flaw” to the world is just one more way to battle that isolation and the status quo.

After all, it’s great to know we’re not alone in our rocketship.

3 Ways Business Success Requires Being Human

being_human

Let’s face it. In the world of technology we’ve become so obsessed with the latest innovative way to solve a problem and lower human demand, we’ve forgotten these tools are all invented to help benefit our fellow humans.

This has led to significant issues in customer service, company culture, employee loyalty, and company growth. These factors combine to create failures which seem outlandish, but when looked at in depth clearly reveal a lack of baseline humanity.

In an attempt to streamline productivity, we have begun to view these tools as the most essential part of success and not the people behind them. Employees are treated as disposable cogs and not vital pieces of what the company is and strives to become.

So how can we counter this problem and leverage the amazing advancements at our fingertips without ultimately destroying our society?

1. Remember Innovation Requires Imagination

While there is hope that someday artificial intelligence will enable us to be taken care of without having to work, and all issues will be solved without requiring human focus, that day isn’t here yet.

In the meantime, it is essential for us to remember on a daily basis that everything around us in the modern world is a result of human imagination and hard work. From the dawn of time, everything developed has required a reason which benefits mankind. Without creative thought we would still be living in the stone age.

So while we are rapidly creating things which remove the need for human sweat in many areas, we must not forget the new opportunities becoming available just open doors to leveraging the power of our minds. In reality, the demand for creativity may be greater than ever.

Without business leaders creating environments to help spark creativity, the ability to achieve long term success is drastically reduced.

2. Creating A Positive Work Environment

So many people think it’s just about how much you can pay in salary and benefits which controls how productive your company can become. While being able to remove employee financial stress is extremely important, most people will tell you when looking back on life that it wasn’t “the best paying job” which correlated with their happiness and productivity.

It was a sense of belonging. Being valued for what they brought to the table and accepted for who they are as a human being, not just viewed as an easily replaceable tool. Their favorite managers were the ones who listened and weren’t consumed by personal power and ego.

It’s actually quite simple to create this kind of workplace. First as a leader, subjugate your ego. Listen to others and admit you don’t know everything. Second, make sure those in positions of authority below you understand and follow this mindset. Third, reward those with initiative and ambition. While monetary reward is appreciated, in truth that appreciation is short lived. A kind word has more power than what can be bought.

3. Help Others Achieve Their Dreams

So often managers view productive employees as threats to their position. Business owners often fear losing a great employee to competition or entrepreneurship.

These things are just the reality of life and cannot be avoided, but if you have built amazing relationships on a human level, going separate ways can be less painful, partnerships can be created to benefit all parties, or even new avenues to greater success can be revealed.

What if that person comes to you with an idea that could change your business model or provide a new revenue stream? Should you be greedy and implement that idea without reward? While it may pay off in the short term, the next person with an idea will surely hide it from you. By default you have just limited your own success and likely created competition for yourself.

What if they get an offer they can’t refuse and move onto another company? Fast forward 5 years. They are now CEO and want to buy you out. That human relationship you built makes them want to make a fair deal rather than rip you off in desire for revenge.

What if hard times come and you can’t meet payroll, or need your team to rise to the occasion beyond just being a 9-5 employees? If you have created the type of human-to-human relationships and environments discussed, you will be amazed at how they will be there for you when it counts.

Failure and success have very thin margins of separation. Don’t forget this when you find yourself becoming consumed with ways to reduce the need of human capital. Find ways to maximize it instead!

Ludovic Biyong Is Helping To Bring News To Cameroon

IMG_2972Edited2

Founded by the 29 year old French-born entrepreneur, Ludovic Biyong, Camernews.com is a Cameroonian news and classified ads-based website. A place for Africans to go to find up-to-date local, national and international daily news, from political and economic news through to the latest in sport, art, fashion and culture, it covers all the top trending stories.

A hugely popular site, Camernews.com also features classified advertisements, employment advertisements and even a virtual tour guide of Cameroon, encouraging tourism and investment for the country. And other major developments to help make the site even more user-friendly and reachable are already underway.

Camernews.com focuses on providing trustworthy and reliable news, information and services to every Cameroonian at every level of society, something that has not been readily available to many. Considered one of Cameroon’s top 10 websites, Camernews.com receives thousands of unique visitors each and every day.

With its increasing popularity, Ludovic Biyong has big plans to further expand the site’s influence by offering users useful services other countries simply take for granted. ‘Compared to many Western countries, everyday Cameroonians are fairly new to the vast world of the Internet and everything it has to offe,’ said Ludovic Biyong.

He is soon to launch an all-in-one platform that also provides Android and iPhone applications dedicated to Cameroon as well as a magazine promoting Cameroon and offering tourism information about entertainment, art, culture and fashion in Cameroon. Also soon to launch is the opportunity for Cameroonians to get more involved in their sports, with sport betting and related activities.

ludovicAn entrepreneur himself, Ludovic Biyong was born in France but has strong ancestral roots to Cameroon. Having spent much of his lifetime in Paris and London, Ludovic now bases himself in Cameroon, working in his IT company, PA2M. A renowned computer scientist and IT specialist, Ludovic was inspired by his early visits to Africa, where he felt a huge social responsibility to share his knowledge with the people of Africa.

Having studied Computer Science and then following on to complete a Master’s in Business Engineering, Ludovic Biyong’s extensive career includes working as a network and Software engineer with Unisys and as a research engineer at Winwise. He also is involved in working with AFNOG (African Network Operators Group) and AFRINIC (African Network Information Center), which has allowed him to be a key player in the development and advancement of the African Internet community.

Ludovic Biyong’s desire is to see all African people thrive in the area of technology and commerce by having the opportunity to harness available innovations in IT and computing, electronics and telecommunications. ‘The Internet has been deeply embraced by urban Africans, as they are driven by the need to connect with family and friends and by the increasing affordability and accessibility of Internet-capable mobile phones’, said Ludovic. He goes on to state, ‘building on this, I am focused on solving many of the social problems they face
using digital innovations not only in the areas of business, but also in the areas of health, education and agriculture throughout Africa’. Camernews.com is just one way that Ludovic Biyong is helping his native country.

Ludovic Biyong’s crowdfunding project is just one aspect of what he sees as the future for, not only Camernews.com, but also for his own personal projects with regard to helping Cameroon to move forward in all areas of society. ‘A lifetime goal of mine is to have an online platform, a crowdfunding platform, where young smart Cameroonians can seek investors in order to create and innovate the future of our country’, he said. As a young and successful entrepreneur, Ludovic Biyong believes that entrepreneurs are born, not made.

His desire is to use all his resources, including the success of Camernews.com and his crowdfunding project, to help advance Cameroon’s society at every level and in every industry. Biyong sees among young Cameroonians their hunger for greater involvement in the political, economic, business and cultural scenes of Cameroon. As the Cameroonian people start craving for prosperity in an emerging economy, Ludovic Biyong’s plan is to support the wealth of talent, passion and diversity that the people of his native country have to offer.

As the success and popularity of Camernews.com continues to grow throughout Cameroon and Africa, Ludovic Biyong is confident the people of Cameroon and further afield throughout Africa will benefit from all that the world of Internet technology, telecommunications and business has to offer.

 

4 Ways to Find the Right Pain Point for Your Startup

old man with aching head

I overheard a joke the other day. And while it was, admittedly, a little silly, it did hold a nugget of truth.

In the joke, an optimist and a pessimist are arguing over a glass of beer at a bar. “It’s half empty,” says the pessimist.

The optimist disagrees, claiming it’s half full.

The bartender, annoyed, comes over and promptly drinks the rest of the beer. “Now you’re both wrong,” he says.

The bartender is an opportunist — and a good one at that.

As an entrepreneur, you are, by nature, an opportunist. You see problems (and their solutions) where no one else does, and like the bartender, you’re inclined to capitalize on those situations and react.

You realize that a smartly timed move can create a niche for yourself and reach untapped markets with products and services your customers and competitors didn’t even know were needed.

That’s not to say you’re launching a risk-free startup. After all, there’s really no such thing.

But by pinpointing where people need a particular product or service and arming yourself with a powerful value proposition, you can carve your own place and make the market work for you. The hard part, of course, is knowing when and where your opportunity will strike.

Here are four tips to help you find your perfect opportunity and determine whether your ideas are viable:

Ask for Advice

When you come up with a stroke of genius or think you’ve found the perfect product idea, ask around. By questioning the potential market clientele, you’re gathering valuable feedback on whether your product idea is worth your while or even feasible.

While it’s easy to ask your friends and family, try to resist. Unless your buddies will actually be using the product or service you’ll be offering, don’t even bring them to mind. Head straight toward your potential client base, ask around, and take notes.

You should also seek advice from someone who has already launched a successful startup—especially if you’re new to entrepreneurship. They’ll have great insight into the unique nuances of the business world and help you avoid mistakes they’ve fallen trap to.

However, critically think through every piece of advice you receive. Just because it came from a “smart” person doesn’t mean it’s always right.

Calculate Your Costs Carefully

After you’ve gathered feedback, make sure you can afford to launch the project. No idea —even a great one — is immune to failure. Clients may like what you’re doing, but that doesn’t necessarily mean they’ll pay you enough money to make a profit.

Before you set your price, make sure it’s fair to your clients, but more than that, make sure it’s fair to you. People are often inclined to set their product or service at a cheaper price, but that could set a bad precedent, and it might make your investors unhappy.

Lastly, overestimate your overhead costs. Things are always more expensive than you expect, so account for that.

Reevaluate Your Plan

When in doubt, talk to a professional investor. He spends all day looking at business plans and can help you identify the flaws in yours. After the shortcomings are addressed, you can fine-tune your plan.

On that note, don’t be afraid to redraft your business plan a few times. You’re breaking new ground, after all, and there’s very little chance you’ll get it right the first time. Fixed problems are an entrepreneur’s best friend. They represent progress, so embrace it.

Take the Risk

When Airbnb and Uber surfaced, they didn’t twiddle their thumbs and wait for managers and taxi drivers to grant them permission to run their businesses. If they did, they wouldn’t have survived.

Instead, they went ahead with their business plans. By throwing regulatory caution to the wind— which, admittedly, is a scary risk — you can find a niche market that people don’t even know they need yet.

Assess whether the risk could take down your company (i.e., whether you could survive if the worst happened), and adjust accordingly. After all, for every Uber, there have been a dozen failures — but that’s how you succeed. To help mitigate this risk, ask your lawyer to see what the best course of action would be.

Thinking back to the optimist and pessimist at the bar, it’s evident that the real victor in the situation is the opportunist. By knowing the best time to act, you can corner your market and succeed in business, and your customers will flock. All you have to do is find your niche and act.

Benjamin Geyerhahn is an experienced entrepreneur, healthcare policy expert, and member of New York Governor Andrew Cuomo’s Health Benefit Exchange Regional Advisory Committee. He is the founder and CEO of BeneStream, which uses a combination of technology and a multilingual call center to guide employers and employees through the Medicaid enrollment process.

 

4 Tips for Building a High-Performance Culture Around Constructive Feedback

any plans for dinner

U.S. businesses spend $105 billion per year handling poorly performing employees. This unfortunate data indicates that subpar employees can harm a business both culturally and financially.

So how can entrepreneurs avoid or correct this issue? By building a company culture that embraces opportunities to share feedback.

Make Your Feedback Constructive

Continuous, transparent employee feedback is great, but not all feedback is created equal. Constructive criticism encourages people and incentivizes improvement, while non-constructive (i.e., destructive) feedback actually inhibits growth. Understanding the differences between these approaches will enhance your interactions with employees and expose their true potential.

To reach that true potential, be sure your feedback is:

  • Direct. Providing feedback can be uncomfortable, especially when someone needs a major behavioral adjustment. Dancing around an issue will only lead to confusion, but being direct will improve comprehension and lead to real change.
  • Solutions-oriented. Feedback becomes destructive when you tear employees down without building them back up. Creating a solutions-oriented conversation will help you and your employees focus less on poor behavior and more on ways they can improve.
  • Unemotional. Are you feeling angry or resentful? You may want to consider giving feedback at another time or having someone else address the issue. The goal of providing feedback is to inspire employees to redeem themselves. If you’re harboring ill feelings toward an employee, you should step away from the situation.

How to Build a Culture of Constructive Feedback

When employees and leaders feel comfortable communicating with one another about what they’re doing well and what they can improve upon, it creates a culture of openness and accountability. But there are some practices you must build into your culture to nurture this type of environment:

1. Lead by example. In his book, What You’re Really Meant to Do, Harvard Business School’s Robert Kaplan presents the idea that as business leaders become more senior, people are less likely to give them feedback or address shortcomings. Kaplan emphasizes how important it is for business leaders to actively seek feedback from team members, which allows them to grow and creates an environment where giving and receiving constructive feedback is normalized.

Leaders must also understand how to receive feedback well. This involves listening without interruption, asking questions for clarification, respectfully acknowledging what the person is saying, and taking time to think before reacting.

2. Deliver bad news constructively. There is always room for growth and improvement. People can’t fix problems if you don’t communicate them clearly. Underperforming for an extended period of time can also make someone feel insecure when tackling new projects.

When delivering bad news, avoid criticism, and state the facts instead. Talk about the behavior — not the person. After you’ve communicated the facts, provide solutions-oriented recommendations.

3. Make positive feedback a priority. People can receive too much criticism, but they can never receive too much encouragement. Celebrate the things your team is doing right on a regular basis. Schedule weekly staff meetings and encourage department leaders to submit weekly team victories. It’s important to celebrate company wins and emphasize that those accomplishments required team effort. Tools like Dunwello are making this easier.

4. Set company goals with your team. As your company grows and develops, set goals with your team. Once everyone is striving for the same mutually developed goals, it will be easier to hold one another accountable and give constructive feedback if others aren’t measuring up.

 

As the leader, you have the opportunity to build a unified and unstoppable team. By creating a work environment founded on constructive feedback, you can push your employees — and yourself — to grow personally and professionally. So probe your employees, open your ears, and find out what you can do better. The spike in performance and productivity might surprise you.

Brent Grinna is the founder and CEO of EverTrue, a leading social donor management platform. EverTrue harnesses social data to help higher education institutions raise more money and better engage alumni. Connect with EverTrue on LinkedIn and Twitter.

The Harsh Reality Of Launching A Startup

businessishard

I recently came across an article talking about how startups should hit the panic button when they only have 6 months of overhead in the bank. This premise stunned me, especially since it came from someone who invests in startups.

What world are they living in?

Having built multiple companies and invested in several more, the idea that any startup should freak out with only six months of overhead left in the bank is just absurd. Most established businesses don’t have that much.

So let’s discuss the harsh realities of launching a startup and how to overcome them.

Rushing Your Dream

Before diving into this, let me first state that you should never hold back your drive to launch a company. But prior to making the giant leap into the unknown, make sure you have looked for as many pitfalls as possible, and been brutally honest with yourself about how much money it will take to stay in business and keep the lights on at home.

In the early stages of any venture your family and friends will be on your side. But the second you start needing to borrow money, can’t cover your rent, or begin worrying about putting food on the table, most of them will tell you to stop. If you quit your job they will tell you to go back to the 9-5 world. The encouragement and belief in your dream will suddenly dry up.

If you have a good job and this is something you can start to build on the side, then don’t just quit. Keep your personal expenses covered until your new venture can. Then make the full jump. It may not be as cool, but it can greatly increase your chances of success and save personal relationships that truly matter.

Prepare For Cash Flow Heart Attacks

Now let’s assume that you’ve gotten the company going and you are growing. Generally, growth requires an increase in overhead. New employees, office space, resources etc.

While you may be getting new customers and growing your accounts receivable by leaps and bounds, reality is you will lose clients, have ones that don’t pay you, an employee that quits at a bad time, or have an unexpected expense.

One day everything looks fantastic. The next you’re having a heart attack because that big check you expected hasn’t come in…and it’s payday tomorrow.

To be honest, there really isn’t a way to avoid these kind of obstacles. All you can do is prepare for them mentally, and make sure your gambles on growth and new expenses are well thought out. Then get ready to rise to the occasion at the eleventh hour.

Getting Investors Is Hard

In spite of the idealistic thought that you will be able to raise capital to get off the ground, cover your business and personal expenses, hire a great team; the reality of this happening is very unlikely.

Not that your idea isn’t a great one. It’s just hard to convince investors to back you. What if your idea is only worth $5 million if successful and you need $500k to get going? If the opportunity to make a 2.5 million ROI (5x investment) isn’t reasonable, many are out by default. If they even take the time to let you pitch.

Let’s be real, many investors lost that much at the craps table in Vegas last week, and don’t want to wait 5-7 years for potential return.

My advice, do everything in your power to make it possible to achieve success without an investor. Even if that wouldn’t be as big or quick as you would like. This approach will give you sound direction in your planning and give you a leg up with potential investors. A basic rule of sales is creating “fear of loss”. When you’re presenting, if it’s reasonable that you don’t NEED them but would enable faster return, interest will be piqued.

No Pain. No Gain.

The harsh reality is that becoming successful is never easy. We often look at all the success stories and forget about failures. This causes so many entrepreneurs to put on blinders and refuse to account for these realities.

In my opinion, it’s much better to accept that it will be tough. Put heavy thought into your plan and get ready for the rollercoaster that is entrepreneurship. There will be pain and heartache, but if you can overcome, it will be worth it when you achieve control of your life and enjoy the freedom it brings to be the person on top.

I hope this article provides both snap back to reality thoughts and encouragement. Would love to hear your thoughts in the comments section and don’t hesitate to reach out to me personally!