Startup Tips: How Your Wardrobe Impacts Your Work

Wardrobe, startup tips, YEC
For women leaders, business can be a minefield of personal image challenges. Experts estimate that up to 95 percent of our communication is nonverbal, so even as women achieve more prominent platforms, the majority of what we communicate is still through external visual clues. This creates the very real challenge of authentically aligning the messages we speak to our outer appearance.

The appearance of a job or political candidate, business partner or clients impacts our opinions, whether we acknowledge it or not. While we still have strides to make in gender equality, many women are discovering that their outward appearance may have unintended consequences.

Appearance Still Impacts Influence

In an ideal world, all leaders would be evaluated by their effectiveness and character. However, seemingly innocent choices impact the influence of powerful women leaders across many fields. For the female executive, it’s an added layer to be considered in developing an authentic leadership style — the fact is, as a professional woman, wearing inappropriate attire can undermine your authority.

Just look at the political field, where the power and perception of women is still heavily influenced by their outward appearance. Margaret Stuntz-Tresky’s thesis “Clothing Makes the Candidate?” posits that “media coverage that underscores traditional sex roles or highlights women’s gender or appearance may well contribute to and exacerbate these inherent hurdles to power.”

Stuntz-Tresky compiled decades of research to exhibit that “studies in a variety of fields and settings have demonstrated that clothing has a significant influence on perceptions of trustworthiness, expertise, knowledge, intelligence, success and more — all the makings of source credibility.”

Dressing to Impress — and Establish Credibility

The way we dress goes beyond fashion to what The Style Concierge Sybil Henry calls “personal style” — i.e., the way we dress to represent our authentic selves, so we can attract those who appreciate who we are internally.

The challenge is to be taken seriously so that your message is heard and you don’t lose that sense of personal authenticity.

As Henry notes, when you work with a business, “you sign on the dotted line to represent their brand and need to find a way to be authentic within those constraints. Choosing a company is no different than choosing a mate — you have to find a match in values and culture so you can authentically align yourself with the company values.”

Whether we like it or not, every career and industry has a uniform that signals credibility. That uniform varies widely for doctors, artists, bankers, and fashion models, of course — what signals credibility for a runway model would undermine the credibility of a brain surgeon.

How to Balance Authenticity and Personal Style

When working with women executive or entrepreneurs, Henry helps identify her client’s authentic self — and find a credible way to express that, comfortably and confidently.

Corporate Image Coach Sarah Hathorn advises women to allow their professional images to speak on their behalf — and beware of wardrobe choices that undermine her brand. A few key pointers:

  • Choose clothes that reflect leadership traits — e.g. don’t wear a 10-year-old suit if you’re a young, forward-thinking leader.
  • Being comfortable in your position doesn’t mean yoga pants and tank tops. Women can be most comfortable by choosing professional clothes in the right fit for their body. For an executive, a well-tailored jacket allows for individualization and comfort — without completely ignoring the industry uniform.
  • Details matter. If you’re a leader who encourages and embraces creativity, pay special attention to the details of your personal style — wearing the same “uniform” of black pants and blouse every day doesn’t communicate adventure, risk or creative style.

The image we chose can either support or negate our carefully crafted brand, along with the messages and the content we’re striving to bring to the forefront of the conversation.

Embodying your authentic brand is a process, but it sends a powerful statement and commands respect. In the end, it’s not about conformity or mimicry, but identifying your authentic self and wearing it, inside and out, with confidence.

Kelly Azevedo is the founder of She’s Got Systems, a custom coaching program that leads clients to get support, documenting and dominating in their fields. She has worked in startup, successful six-figure and million-dollar online businesses, helping owners create the systems to serve their needs.

The Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, the YEC recently launched #StartupLab, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses via live video chats, an expert content library and email lessons.

You can see YEC founder Scott Gerber speak at this huge national startup conference.

Startup Tips: 13 Money Saving Tricks Nobody Ever Talks About

Startup Tips, Guest Post, YEC

Question: What’s ONE thing I can do to save my business money right now that nobody ever talks about?

Forget Information Products

“This is an area not many people talk about because a lot of businesses make their money by selling these items. The problem is that too many entrepreneurs buy into eBooks, courses, group coaching programs, etc., but they don’t spend any time implementing. Stop spending your money on information and instead, save it, or spend it on talent that will help catapult your business forward.”

Shared Gym Memberships

“I’m a huge believer that splurging on gym memberships saves on employee productivity big time. But don’t buy individual memberships; instead, negotiate with a nearby gym to buy just a few memberships you can share with people on the team (as long as only one person per membership goes at once). They”ll typically be cool with that, and you’ll potentially save a ton.”

Derek Flanzraich | CEO and Founder, Greatist

Audit Your Subscriptions

“Look through your credit card statements for automatic rebills, and make sure all the services you’re paying for are actually being used. In the past we’ve uncovered a mobile phone account that no one had used for six months, a website optimization service that was overbilling us, and a CRM that we had switched away from months prior. For services that you do use, contact and ask for discounts.”

Fit It in the Right Box!

“Many product companies I have talked to always tell me some added costs come from having to buy a shipping box on-top of their retail box. A little tip we learned was make it fit inside a USPS flat rate box or UPS box. These materials are free from both suppliers, and if you manage your relationship with the driver, they even drop them off to you, saving your company a ton on packaging costs.”

Jerry Piscitelli | Owner / Inventor, Portopong LLC

Look at Legal Expenses

“Businesses often have legal needs that can cause large, unexpected legal bills. Ask your attorney for flat project rates to allow you to better budget your legal expenses. If an attorney will not provide a flat rate, they might be willing to agree to a cap on the project, which also can help you prevent surprise legal bills.”

Doug Bend | Founder/Small Business & Startup Attorney, Bend Law Group, PC

Ask for Tax Guidance

“The earlier in the year that you can sit down with your CPA and look for opportunities to better manage what you’re going to owe the IRS, the more likely that your CPA will be able to help you find some strategies to minimize your tax bill. From retirement accounts to going green, there are a lot of tax strategies out there and it’s worth going over all of them with a tax professional.”

Negotiate Absolutely Everything

“Prices for B2B products and services are almost always negotiable. Aggregated savings over time can amount to a real enduring competitive advantage if competitive negotiation becomes part your company culture. Make it a policy never to sign off on anything until you and your team have hustled out every last penny.”

Christopher Kelly | Co-Founder, Principal, Convene

Try Out Outsourcing

“Outsourcing oversees things such as web design, SEO, and in some cases, content writing can greatly reduce your overhead. Firms such as Supreme Outsourcing http://www.supremeoutsourcing.com, Guru and oDesk help you find work from around the globe. If you reduce cost in these areas, you can then hire more full-time people in your own country so there is nothing unpatriotic about it.”

Use Communal Space

“Take advantage of communal office space where the rent is subsidized and the culture is lively. Shared space is a great way to immediately reduce your cash burn, and interact with many other entrepreneurs in a fun and creative setting.”

Utilize Interns Wisely

“There are millions of college students and recent grads willing to work for little or no money in return for experience. Never underestimate the value of the experience you can offer. Compared to working at a large, boring corporation, many students will opt for the fun, small business. Once you have an intern (or four), you’ll start realizing how much of what you do can be delegated.”

Emerson Spartz | CEO and Founder, Spartz

Outsource Key Infrastructure

“Many small businesses see the value of outsourcing for specific tasks (such as web design or content). But outsourcing key infrastructure positions is an even more effective way to save money. Starting out, it’s almost inevitable that you’ll face an internal skills gap. Outsourcing key functions such as finance, legal, and HR can help you keep your internal resources focused on your business.”

David Ehrenberg | Chief Financial Officer, Early Growth Financial Services

Refuse Some Business

“”Are you mad?” Nope. Simply stated: you need the focus. Stop looking for that quick fix and start connecting to your ideal client! You need to think long and hard about who that is. They are the ones that can extract the most value by using your service or product and will come back to you time and time again. All others are a waste of effort, as you bend over backwards for them just that once.”

Carissa Reiniger | Founder and CEO, Silver Lining Ltd.

Review and Analyze

“Review invoices and statements from the past three months. As you go through them, ask yourself the following questions: Do we really need this? Are we paying too much? Can we get a better deal? How can I avoid these costs in the future? By analyzing every dollar, you’ll find areas where you are wasting money by overpaying or using services you don’t need.”

Christian Springub | CEO and co-founder, Jimdo

The Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, the YEC recently launched #StartupLab, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses via live video chats, an expert content library and email lessons.

EECincyBanner

4 Tech Investments Your Startup Should Splurge On Early

Guest Post, YEC, Startup, Startup Tips, Technology for startupsNo matter how you slice it, launching a startup is a major expense. It can be tempting to cut corners by paying less for certain business necessities. But don’t go too crazy with the budget blade, especially when it comes to technology and your website’s infrastructure. Experience shows that companies that invest in good technology from the outset find a bigger payoff.

The challenge, then, becomes knowing exactly where to invest. Here are some basics:

A Great Website

Your website conveys who you are, what you do, and what makes your company different from the rest. It doesn’t need to be overly flashy — some of the most effective messaging is simple and streamlined.

Your website should have an attractive job application page that outlines your company’s mission. Great employees want to be part of something bigger — a company with a vision — so this page will be one of your greatest assets in attracting A-level talent.

A Reliable Hosting Provider

Choose a larger service provider early on when deciding on a site host. I recommend skipping a VPS (virtual private server) altogether and going straight to cloud hosting, like Amazon’s EC2 CloudStack. On a VPS, if one of the other sites on that server is experiencing a lot of traffic, your site becomes slow or unresponsive. Cloud server hosting is incredibly scalable and can save you headaches down the road.

Email Deliverability

Larger companies pay for email deliverability. An ordinary email system will often send relevant messages to the spam filter. It simply can’t distinguish what should and shouldn’t be tossed out. If you pay for a deliverability service, you are effectively paying a small amount per email (around a cent) to ensure you don’t miss out on important communication.

An Efficient, Scalable CRM

Finally, if you foresee your business having a large number of clients, then you need a powerful CRM (customer relationship manager) from the get-go. Staying on top of your business relationships quickly becomes a challenge with the addition of just a few clients. A basic CRM keeps track of your relationships with clients, prospects and anyone else with whom you do business.

Excel and QuickBooks are too simplistic, too quickly overwhelmed and they don’t scale easily. Google Drive might seem like another option, but it can soon become chaotic and time-consuming. Sometimes, the best option is a custom CRM tailored it to fit your needs, both present and future. If you decide to go with a commercially available CRM program, make sure it is designed to be scalable so it can accommodate your company’s needs as it grows.

The Benefits

Investing early on in great technology can improve your company’s growth in two ways:

  1. It ensures that you can handle increases in demand. Investing in reliable technology, capable of handling spikes, means significant growth won’t stretch your organization.
  2. It will allow you to entertain the idea of large partnerships that can grow your company by multiples. If you’ve got a reliable tech base, then you’ll be in good shape to handle considerable expansion.

Scout Out Technology

A commitment to investing in great technology is one step — then, you have to actually find the best technology for your needs. Here are a few ways to get started:

  1. Do your research. An item’s cost does not guarantee its efficiency. Sometimes, market leaders really do have the best offerings at the lowest cost, but it’s also worthwhile to check out smaller tech companies. What the smaller outfits lack in bells and whistles, they often make up for with a higher level of service, which can prove invaluable.
  2. Ask around. To find the right tech fit, talk to fast-growing tech companies to see what they use. These companies have higher standards than Fortune 500 companies, which tend to be out of touch and use highly complex programs supported by a huge, in-house technology workforce.
  3. Compare offers. Before committing to a technology, obtain multiple bids and demos to ensure you’ve found the right fit at a reasonable price.

Invest in the proper technology infrastructure now to avoid wasting large amounts of time and money later on. You will be set for rapid future growth — and very few headaches.

Chuck Cohn is the Founder and CEO of Varsity Tutors, a leading national tutoring and test prep company with operations in 25 cities, 2,000 tutors and 80 employees. Prior to Varsity Tutors, Chuck was a venture capitalist with Ascension Health Ventures, a $550 million venture capital firm. Prior to that role, Chuck worked as an investment banker in the Energy & Power Investment Banking Group of Wachovia/Wells Fargo.

The Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, the YEC recently launched #StartupLab, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses via live video chats, an expert content library and email lessons.

EECincyBanner

The Pros and Cons of Starting A Startup With A Buddy

Guest Post, Startup Tips, YECI’ve built five companies in my startup career, four of which I started with close friends. It’s quite common to build a company with a close friend: you get together, think of a cool idea, and decide to get started. Why not, right? While it can be extremely fun to start up with someone you’re close to, it’s not without disadvantages.

So before you and your friend get started, take the time to analyze the good, the bad, and the ugly side of starting a company with a friend.

The Good

  1. You have a friend in the trenches. Entrepreneurship can be lonely. My friends who work 9-5 during the day tend to party hard at night. I can’t keep up with that lifestyle as a 24/7 entrepreneur. When we do hang out, I just want to talk about ways to improve my startup — whereas they want to talk about anything but work. That’s why it’s so fun to start up with a friend. You have someone you can confide in and relate to, at times when not everyone understands.
  2. Your friendship sets the tone for culture. Good company culture keeps morale high, attracts top talent, and keeps employees loyal. My co-founder and I often conduct interviews together so that the prospect sees our dynamic interactions and feels how fun it is to work on our team. Because we’re friends, we don’t hesitate to throw a get-together at my place or a poker night at my co-founder’s place.
  3. You understand each other’s strengths and weaknesses. It was easy for my friend and I to assign roles and responsibilities, because we knew each other so well. He was emotionally stable, organized, and focused on the big picture, so it made sense for him to be CEO. I was the hustler with the do-whatever-it-takes attitude, so it made sense for me to lead the CMO position.

The Bad

  1. You have similar networks. Friends usually hang out with the same people and will thus have the same network. This is bad because startups can succeed or fail based on who you know and what introductions you can get. My co-founder and I make a strong effort to go to events (he goes to investor-related events while I go to client-related events) in order to expand our networks.
  2. It’s difficult to take orders from a friend. People are accustomed to taking orders from their boss — not their friends. This can become very unpleasant, especially if you’re not communicating tasks in the way that your co-founder likes to receive them. To keep my co-founder and I accountable, every week we get together with the whole team and report our accomplishments and issues. This eliminates the need to give orders throughout the week.
  3. It’s easy to take advantage of the friendship. Because my co-founder is my friend, he feels shy about pressuring me to work harder, which can become a vicious cycle: I slack because I feel comfortable around my friend and my friend doesn’t pressure me to work harder because he doesn’t want to mess up the friendship.
  4. You don’t want to hurt each other’s feelings. There’s no easy way to do it, but if your co-founder is slacking or missing milestones, then you have to call him out. A founding team that is brutally honest with each other and that can respect feedback has a much greater chance at success.

The Ugly

  1. The stress of failure is compounded by your friendship. Startups are full of stress, failures, and demoralizing moments. In a previous company, my co-founder failed to raise funding within the given timeframe. It was a very tense time because cash was extremely low and the company would fail if we didn’t raise capital immediately. Similarly, I’ve had moments when I’ve gone through a dry spell closing deals. It’s hard to console a friend when your business’ future is at risk.
  2. Failed businesses can lead to broken friendships, and vice-versa. I have seen several failed startups lead to broken friendships. Many times, the founders blame each other for the failure. In other cases, problems that start as personal can end up affecting — or even destroying — the business side. My failed startups with friends have actually led to stronger friendships; it’s all about the level of respect you have for each other. But if you don’t communicate this from the start, it can easily go the other way.

5 Questions to Ask Before Starting Up With a Friend

Would I do this again? Absolutely — though I always proceed with caution. Here’s what I look for in a friend before I ask him to join my team:

  1. Do we have complementary skills?
  2. Do we have different networks?
  3. Do I trust and respect his work ethic?
  4. Do I trust and respect his decision-making abilities?
  5. Does he have previous startup experience?

Don’t start a company with a friend just because you think it’ll be fun to work together.  Start a company because you believe in what you’re doing — and because you each bring a unique skill set and network to the table, improving your chance of success.

Jun Loayza is the Chief Marketing Officer of VoiceBunny and Voice123. He is also an accomplished lifestyle entrepreneur and the creator of the Drop Ship Domination System. In his entrepreneurial experience, Jun has sold 2 internet companies, raised over $1 Million in Angel funding, and lead social media technology campaigns for Sephora, Whole Foods Market, Levi’s, LG, and Activision.

The Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, the YEC recently launched #StartupLab, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses via live video chats, an expert content library and email lessons.

EECincyBanner

8 Simple Split-Testing Tools For Your Startup To Try

Startup Tips, Guest Post, YECQuestion: What’s your favorite split-testing tool and why?

Visual Website Optimizer

“I’ve used Visual Website Optimizer for many clients and it works really well. They have a fantastic and easy-to-use interface and it does the job. It’s not the cheapest solution, but it’s worth it when a small increase in conversion equals a significant amount of revenue for your company.”

AJ Kumar | Co-Founder, Single Grain

Google Analytics Content Experiments

“The new Google Analytics comes with Content Experiments built in, and this feature allows you to split test different pages on your site. You can split test headlines and bits of code, and it shows you the clear winner over time. It’s free, and integrated with Google Analytics — what’s not to love?”

On to Optimizely

Optimizely is one of the most intuitive and easy-to-use tools on the market, allowing even non-technical folks in your company to easily create and run experiments using a WYSIWYG interface. Best of all, you can test-drive the tool free of charge from their website without even creating an account.”

Settle Into Unbounce

“I love Unbounce because it makes it dead simple to create quality landing pages and to easily test variations. Unbounce’s drag-and-drop setup makes it to where I can create a quality landing page in under an hour. It also provides solid analytics about which version of my page converts the best. One of the best things is they have an awesome blog and support center that answers my questions.”

Test Out Convert

Convert has really enhanced its product offering recently. I’m enjoying their new user experience very much. Their reporting is very easy-to-use as well. As someone that has tried out many split-testing tools, I suggest everyone gives Convert a test drive to see what they think of it.”

Logan Lenz | Founder / President, Endagon

KISSmetrics All the Way!

KISSmetrics doesn’t just provide simple A/B testing. They also provide you with insights on which you can take action. Everything is real time, so you can do an A/B test in short-order without having to wait for a massive report.”

Aaron Schwartz | Founder and CEO, Modify Watches

Install Hello Bar

“This isn’t a fancy tool and it can really only be used to split test on a small scale and works for specific applications but I’ve loved using Hello Bar to split test two offers on our website to see which gets the most clicks and conversions. For us, it’s a simple way to tell if people like one eBook over another or one webinar over another. They have a free account option as well!”

HiConversion Works

HiConversion is dead simple to use and offers real-time ROI, which makes it stand out from the other offerings we researched.”

Josh Weiss | Founder and President, Bluegala

The Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, the YEC recently launched #StartupLab, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses via live video chats, an expert content library and email lessons.

EECincyBanner

Juggling Motherhood And Entrepreneurship

Female Founders, Guest Post, YEC, startupAs a young entrepreneur, your business is likely to take over your life. Never mind the 9-to-5, being captain of your own ship can be more like 9-to-9. But then you didn’t start your own business because you were afraid of hard work, did you?

As a business owner who always has a multitude of projects going, is location independent (i.e.: a lifestyle of almost permanent travel) and as the mother of a toddler, I know what it’s like to be juggling too many balls. If I’ve learned anything about how to get things done and be happy with what you’ve achieved, it’s this:

Learn to leverage time zone differences
As a location independent entrepreneur – or if you work with clients, customers and partners in different parts of the world – time zones can leave you scrambling to catch up with clients and customers at odd times of the day and night but they can also be used to your advantage:

  • Set project deadlines to take advantage of the fact that your clients may well be sleeping, leaving you to get ahead with your work.
  • Process emails at a time when you know your clients have finished for the day so you won’t get an influx of new ones as soon as you clear your inbox.
  • Send work that needs feedback when your clients are starting the day so they can have it ready for when you start yours.

Instead of seeing it as a tricky challenge, there are plenty of ways you can turn working with global clients in different time zones to your advantage.

Perfectionism is over-rated
Motherhood has taught me that “good enough” is good enough. It can be very easy to spend (waste) time getting everything so that you’re 110 percent happy with it. Your website needs a few more tweaks. That proposal needs to be refined some more. That product needs a bit more testing.

But when you are pushed for time – which you usually are as a nomadic, entrepreneurial mother – good enough has to do. That extra five percent  that you know wasn’t done? No-one else is likely to notice it’s not there, they probably won’t know it was even meant to be there. Get used to shipping things that are good enough, gather feedback and then perfect.

Follow your own path
As a young entrepreneur, you no doubt have lots of people giving you advice. You’ll read columns like this, soak in the advice of people you respect and try to emulate the success and approach of those you admire.

Don’t.

The only way you’ll find true success is to follow your own path. What worked for others might work for you or it might fail. What someone else says you should do might be a good fit or it might totally bomb. Nobody knows better or is as passionate about your business as you are. And nobody knows you, better than you do.

What you try might not always work out. But what you learn from those mistakes and failures will be key insights into what will work for you next time. If you look around at the people whose success you admire, you’ll probably notice a common trait: they did things their way, no matter what anyone else advised. Be bold and do the same.

Use your hidden strengths
You’re young, you have energy, you have time on your side. Obvious, yes? But have you realized that these are real strengths you can leverage as a young entrepreneur?

Before becoming a parent, I wish I’d known how difficult it is to juggle parenthood with being a business owner; never mind living a life of travel to boot. I often wonder what I did when I had all day to write a single blog post and didn’t manage it. I look back at what I’ve achieved since being a mother and realize how much I could have achieved before I had the parental responsibility , and didn’t.

You can work twice as hard, fail twice as fast, and learn twice as many times as entrepreneurs older (and supposedly wiser) than you can, and you’ll probably still be under 30 with all of that experience under your belt. If you’re not a parent or you have fewer responsibilities than some of your peers and competitors, use this as a competitive advantage – when the time comes, you’ll be glad you did.

As a young entrepreneur, if you can get good at getting things done early on in your business no matter what pressures or responsibilities you face, you’ll already be ahead of the game. Make it your goal to stay that way.

Online entrepreneur, community builder and digital publisher, Lea Woodward is the founder of Kinetiva – an organization dedicated to helping people with a natural talent create a sustainable business from their talent.

The Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, the YEC recently launched #StartupLab, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses via live video chats, an expert content library and email lessons.

We’re looking for a few good female founders!

9 Ways Co-Working Can Help Your Business Grow

coworking, guest post, startup tips, YEC

Question: Share your best anecdote/lesson from co-working and how it helped your business or brand grow.

New Clients All Around

“I work regularly at coworking spaces. I routinely land new clients through a quick chat, especially since in a coworking space, I can immediately show the person sitting next to me exactly what I’m working on.”

Word Gets Out

“I belong to a community of entrepreneurs that work together and play together, and I started serving a couple of clients. Word started getting around the community that my service was good, and more and more people started using my service. This is a great strategy for those whose clients would be in a co-working environment.”

New Talent in Your Space

“If you’re in a space with other talented individuals, it’s the perfect opportunity to scout for new talent for your own business. We’ve hired some of our most talented employees just because they were working in the same proximity to our company in a co-working environment. Without being in a co-working environment, we would have never had met those future employees.”

Derek Johnson | CEO/Founder, Tatango

Creative Problem Solving

“Co-working spaces bring together diverse businesses. Be open about your difficulties and support other companies with theirs to uncover clever solutions to your challenges. We’re a consumer products company and struggled initially with building our subscription program. We finally talked to a co-located company with deep tech expertise and were able to crack the issue over a weekend!”

Aaron Schwartz | Founder and CEO, Modify Watches

Support for Each Other’s Business

“At 1871, a new co-working space in Chicago, I have the opportunity to work around awesome startups everyday. In my immediate area, I work with two very different startups, but we find ways to support each other’s businesses. Whether it’s through signing up for services, going to launch parties or promotion through social media, we have worked together to expand our businesses.”

Mike McGee | Co-Founder, The Starter League

Co-Workers as Brand Ambassadors

“One of the things we do at my co-working space is “pitch meet-ups” where everyone has a chance to give an update on what they’re working on. I always use this time to let my co-workers know what they can tell others about my business, and having so many ambassadors for my brand has helped the word spread like wildfire. I act as an ambassador to their businesses too. Give love, get love!”

Natalie MacNeil | Emmy Award Winning Media Entrepreneur, She Takes on the World

Quick User Feedback

“Co-working can be great for quickly getting feedback on design and product plans. When co-working, I’m often asked for feedback on projects, and once you get to talking, it’s a great way to get feedback on your own activities—from design to product roadmap, co-working space can be great for fast feedback from those who are external to your project, but close by.”

Doreen Bloch | CEO / Founder, Poshly Inc.

Spontaneous Collaboration

“The thing you really get with a co-working space is those spontaneous chats and “bump ins” you have with other entrepreneurs that lead places you’d never be able to go if you were working by yourself in isolation. When I started our entrepreneur co-workspace, The Loft, that was a big reason people joined. To be around entrepreneurs, to have random conversations and brainstorming. Awesome benefit.”

Trevor Mauch | Founder, Carrot

Accountability Audience

“Our company was born out of co-working space and has been growing inside of one for the past 11 months. One unexpected benefit I love about co-working is the accountability. There is a communal sense of showing up from work, getting stuff done, and motivating each other to do so. It fosters the work hard, play hard attitude.”

John Meyer | Founder/CEO, Lemon.ly

The Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, the YEC recently launched #StartupLab, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses via live video chats, an expert content library and email lessons.

YEC founder Scott Gerber to keynote on Tuesday October 1st at this huge startup conference for startups everywhere else

How to Turn Your Business Failures Into Future Success Stories

Neil Thanedar, Labdoor, Guest Post, Startup Tips, YECMy first startup experience was working for a tech company that made mobile applications for sports fans. I worked nights and weekends in an entry-level position with the founding team while finishing up my college degree. For aspiring young entrepreneurs like myself, a business school education is valuable, but it is no substitute for working in real, live startup environments. I knew I had to have both, so I sought out entrepreneurial experiences every chance I had.

Now that I’ve finished school and launched two startups of my own, I’m beginning to reflect on the lessons I learned outside the classroom, especially in that first startup job — and how they came to influence my decisions as a startup founder, four years later.

Timing Does Matter

I absolutely loved that first team’s product concept, which aimed to improve the in-stadium experience at sporting events by providing live statistics, video replays, and even concessions orders to a mobile device. The in-stadium atmosphere is great for fans, but teams are fighting to increase ticket sales against the free and convenient experience of watching games at home.

I knew that bringing some of those comforts to your stadium seat could be valuable for both fans and teams. But after working on the product launch team for a season, I was in a unique position to project the long-term viability of both the product and the overall company. Unfortunately, the view wasn’t promising: it always felt like the company was too early for its time.

We initially loaned out iTouch devices at the venues, since not enough people had smartphones at the time. This iPhone/iPad sales chart shows the market growth in these categories from under $5 billion in sales in January 2008, when I started at the company, to close to $100 billion now.

Failure Is Not the End

We had difficulty gaining traction. Whether it was the market, the timing, or the business model, I didn’t see much of the company after I left in mid-2008. Four years later, new companies are having success in that market, including FanVision, owned by the namesake of my alma mater at the University of Michigan.

Meanwhile, the founding team has gone on to do other great things, which led me to research what drives serial entrepreneurs. It’s a common theme in Silicon Valley and elsewhere, but is it really true that startup failure breeds future success?

Harvard researchers Gompers, Kovner, Lerner, and Scharfstein argue the answer is yes, but barely: They found that a successful serial entrepreneur has a “30 percent chance of succeeding in his next venture. By contrast, first-time entrepreneurs have only an 18 percent chance of succeeding and entrepreneurs who previously failed have a 20 percent chance of succeeding.”

Lessons Learned

Clearly, past success is a better indicator of future success. Employees, investors, and customers are all drawn to big-name entrepreneurs. Nevertheless, my college experience working with a failed startup greatly shaped my future successes at both Avomeen and LabDoor. Specifically, they taught me:

  1. Customers come first. I loved that first company’s focus on customers. They only had a few full-time employees  at the time, so they did a great job of leveraging associates like me to be at every sporting event interacting with customers. I followed their lead at Avomeen, where we constantly requested feedback from our clients, especially when launching new services.
  2. Analyze — and capitalize — on market trends. My early exposure to mobile development and its user growth informs our work at LabDoor, allowing us to time the launch of our product safety applications (November 2012) at a key inflection point in the market. Mobile health users are expected to double in 2012, and we plan to immediately capitalize on that growth.

I loved the experiences at my first startup, and will be eternally grateful to my bosses there for giving me my first shot in the tech startup world. I didn’t work there long and definitely never made any money in stock options, but it was a transformative experience that I still use when running my current startups — and one I’d recommend to any entrepreneurial-minded student weighing entry-level work vs. a startup gig.

Neil Thanedar is CEO & Founder of LabDoor, a digital health startup that uses science to tell consumers what’s really inside dietary supplements. Before LabDoor, Neil founded Avomeen Analytical Services, an FDA-registered product safety laboratory, and also worked on emerging mobile sports and medical device products. He owns degrees in Cellular & Molecular Biology and Business Administration from the University of Michigan.

The Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, the YEC recently launched #StartupLab, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses via live video chats, an expert content library and email lessons.

EECincyBanner

3 Reasons to Work for a Startup

startup-company

Tech giants like Facebook and Microsoft continue to offer endless perks (like free dry cleaning and an organic spa, respectively) in an attempt to attract top talent. But, I believe new startups’ innate “perks” — like culture, ownership, and visibility — provide the biggest benefits to prospective hires. Instead of competing with giants on material perks (actual companies have emerged to capitalize on this trend — we were solicited by three of them after announcing our Series A), young startups hungry for talent should emphasize their unique benefits instead.

I believe the newest, smallest startups really do offer the best benefits of all. Here are three reasons why:

1. Culture

Though Yahoo is most definitely not a startup, Marissa Mayer’s now-infamous decision to end telecommuting was, in my opinion, implemented in an effort to bring back some of that much-loved startup culture and weed out any apathetic employees. While my organization wholeheartedly embraces the idea of “working from anywhere” (our entire company is built around Google Apps) there is something to be said for what employees can accomplish when they’re physically in the same room.

Enforcing a ban on telecommuting doesn’t make Mayer a tyrant. Instead, it shows a desire to rebuild Yahoo’s corporate culture and highlights Mayer’s startup roots. After all, one of the main benefits of working at a startup is the tight-knit workforce and the sheer amount of collaboration that occurs on a regular basis (sharing a 300-square-foot room with five other people also helps).

While Yahoo will never again feel like a true startup, we should give Mayer credit for trying to rebuild a culture that thrives on working together and supports collaboration.

2. Ownership

People are drawn to startups because of their lack of bureaucracy. At most big companies, you deal with endless approvals, red tape and PR departments looking over your shoulder. Ultimately, new ideas are held up for months and even years.

While every company has some sort of hierarchy, startups have a relatively flat organizational structure, which allows members of the team to accomplish much more in a shorter timeframe.

3. Visibility

Visibility is a crucial element to building a great working environment — and it helps an organization establish trust with its customers, investors and most importantly, employees. While some of the biggest names in tech make transparency a priority, true startups are able to provide visibility in every area of the business. And it’s the lack of bureaucracy and strong culture that make visibility possible.

I even know one new company whose CEO tells his employees how much money is in the company bank account on a monthly basis. This kind of transparency inspires employees to do their very best because they know that they’re truly affecting the overall success of the company. It also makes it impossible for anyone to piggyback on someone else’s hard work. In a small organization, everyone is accountable — which means the team as a whole works harder.

* * *

In the end, trying to compete in the endless perks game is simply unsustainable for young companies. It also hurts our ecosystem by placing an emphasis on the materialistic benefits while detracting from the true values that make the tech startup world so great. So don’t worry about keeping up with the big guys. Instead, focus on making the most of your company culture and promoting visibility and ownership throughout the recruiting process and once employees join your organization.

Let talented people share in your dream, offer to help them grow, and they will come and join you.

David Politis is the founder and CEO of BetterCloud, the maker of FlashPanel, the number one cloud management tool for Google Apps, and the Google Apps resource site, AsktheGooru.com. Follow BetterCloud on Google+ at bettercloud.com/plus.

The Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, the YEC recently launched #StartupLab, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses via live video chats, an expert content library and email lessons.

EECincyBanner

YEC Founder Scott Gerber To Keynote Everywhere Else Cincinnati On October 1st

Scott Gerber, YEC, Everywhere Else Cincinnati, Startup NewsOver the past few months, we’ve been part of an amazing partnership with the Young Entrepreneur Council. The YEC provides some great content, including many of our startup tip stories. The best part is that many of their members are founders of startups we’ve covered here at Nibletz.

Founders like Danny Boice (speek), Neil Thanedar (LabDoor), Derek Flanzraich (Greatist), and many more are members of the invite-only organization comprised of the world’s most promising young entrepreneurs.

Now, we’re proud to announce Scott Gerber, the founder of that organization, will be one of our lead keynotes on Tuesday October 1st during Everywhere Else Cincinnati. Scott is a huge advocate for young entrepreneurs and ending youth unemployment through entrepreneurship.

In addition to founding the YEC, he is the author of the book Never Get a “Real” Job. He is also a serial entrepreneur, internationally syndicated columnist, and the host of Founders Forum on Inc.com. Scott has been featured in the New York Times, Wall Street Journal, Washington Post, Bloomberg, Fortune, TIME, CNN, MSNBC, CNBC, Reuters, Mashable, BBC, NPR, Forbes, The Daily Beast, CBS News, US News & World Report, Fox News, Inc, and Entrepreneur. He has been honored by NASDAQ and the White House.

As entrepreneurs get younger and younger, it’s a real privilege to have Scott participate in the conference.

Scott joins this already amazing list of speakers:

  • James Dickerson (former LightBank Associate)
  • Rob Woodbridge (founder untether.tv,Canadian mobile expert)
  • Blair Garrou, Managing Director Mercury Fund
  • Joe Medved, Partner SoftBank Capital
  • Naithan Jones, Founder AgLocal
  • Derek Flanzraich, Founder Greatist
  • Andrew Warner, Founder Mixergy
  • Andy Sparks, Co-Founder MatterMark
  • Wil Schroter, Founder Fundable
  • Jake Stutzman, Founder Elevate.co
  • Jonathon Perrelli, Managing Director, Fortify Ventures
  • Justin Gutwein, Filmmaker and Entrepreneur Startupland.tv
  • Mark Hasebroock, Founder Dundee Venture Capital
  • Jason Healy, Founder Blu
  • John Bracken, Founder Evite and Speek
  • Dave Knox, CMO Rockfish, co-founder Brandery
  • Patrick Woods, Managing Director a>m ventures
  • Sarah Ware, Founder Markerly
  • John T. Meyer, Founder Lemon.ly
  • Raghu Betina, Managing Partner The Starter League
  • Ryan O’Connell, VP Influence & Co
  • Blake Miller, Managing Director Think Big Accelerator
  • Michael Bergman, Founder Repp

Get your early bird attendee ticket or startup avenue booth below. Early bird pricing only runs until Labor Day.

 

15 Ways to End a Business Partnership Gracefully

Guest post, startup tips, YEC

Question: What’s one tip for ending a business partnership gracefully (or at least, without lawsuits!)?

Go Back to the Contract

“If you had the foresight to create one, consult the partnership agreement or other business documents that detail the structure of the business and how disagreements or severance is handled. While these contracts typically do not cover ever conceivable scenario they can serve as an impartial reference for negotiations.”

Be Kind and Generous

“Recognize that if a business partnership does not end amicably, it can cause tens of thousands of dollars in legal bills and years of your time and energy to resolve through litigation. Therefore, when in doubt, error on the side of being generous and kind rather than risk litigation by being greedy or spiteful when ending a business relationship.”

Doug Bend | Founder/Small Business & Startup Attorney, Bend Law Group, PC

Be as Reasonable as Possible

“Be reasonable, and don’t let pride get in the way. Don’t let the past cloud the way you handle the situation. Think about the best way to end it to benefit your company in the future.”

Get a Prenup!

“Though nobody likes to think about, much less plan for, a dissolution, agreeing on an exit plan should be part of the earliest partnership discussions. That way, no matter how heated things get, both you and your partner are protected and forced to abide by terms upon which you agreed when cooler heads prevailed.”

Define Mutual Desired Outcomes

“Generally, when a business partnership is coming to an end, both parties have their reasons. If you can define a set of mutual desired outcomes and then operate from a place of mutual fairness, you can generally find an amicable resolution to any business partnership that has come to an end.”

Factor in an Exit Clause

“Start every partnership with a solid contract outlining exit plans in advance. Write up a simple understanding with an exit clause built in for each partner. That way, the procedures and expectations are in place if one partner wants to leave to pursue other opportunities. If you are high and dry without one, go back to the contract.”

Split the Last Check

“It costs money to dissolve a company. The legal fees should be divided by the same ownership percentage. Although an exit strategy should have been in writing upon starting the business, some entrepreneurs might not have it. By splitting the costs of dissolving a company, you at least have documentation to show that both parties agreed to end the partnership.”

Nancy T. Nguyen | Founder/Sweet Sylist, Sweet T Salon

Make Sure to Prepare

“Having the right contract in place at the start of the relationship is key. That guards terms of termination (i.e., days notice) and makes clear what happens to the business, the work etc. Those are the things that cause problems in the first place.”

Always Be Honest

“Breaking up is always hard, but it’s infinitely more difficult when there’s money on the line. Sit your partner down and be transparent. Talk about what’s wrong and why you can’t move forward. Offer a plan to make the split work for both of you.”

Brent Beshore | Owner/CEO, adventur.es

Think Before You Act

“You never want to end a partnership in the heat of the moment. Rather, think things through carefully and plan your approach/case. Saying too little or too much can have negative consequences in the future. ”

Hire an Attorney

“Dissolving a partnership can be an emotional roller coaster, so my advice is to remove all emotions from the process. If you have the resources, both parties should hire an attorney the minute it’s decided that it’s needed to dissolve a partnership. This allows both parties to negotiate at arms length, without being slowed down by partner emotions.”

Derek Johnson | CEO/Founder, Tatango

Find Mutual Advisers to Help

“Anytime a relationship is ending, there is a natural tension caused by a lack of trust. As much as possible, bring together mutual advisers to help you work through differences. Friends or mentors whom both parties trust will create a safer environment for discourse, which will help lead to a graceful resolution.”

Aaron Schwartz | Founder and CEO, Modify Watches

Communicate Everything

“Communicate a lot. It’s important to clearly communicate your goals and rationale with your partner throughout your entire partnership, much like a marriage. When you have a lot of transparency, you and your partner will know where the other stands, and the end will likely not be a surprise.”

Set Legally Binding Expectations

“Set expectations and make them legally binding upfront. As a startup founder, your equity should vest. Your equity should be based on milestones you’ve reached. This way, if someone doesn’t live up to expectations, there’s no legal or personal claim that can be made. ”

Have an Exit Strategy

“Know what consequences ending the partnership will have on the other parties and be prepared with proposed solutions for those affected. Have strategies and alternatives to share with your business partner, so both sides can handle the transition as seamlessly as possible. For example, how you will handle your existing customers? Be prepared with concrete answers.”

Christian Springub | CEO and co-founder, Jimdo

The Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, the YEC recently launched #StartupLab, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses via live video chats, an expert content library and email lessons.

EECincyBanner

3 Ways Women Can and Should Have It All

Women entrepreneurs, startups, startup tips, guest post, yec

A generation after many prominent feminists encouraged women to “have it all,” we continue to decry the absence of women in politics, business, and other positions of power. At the same time, even though there is more opportunity for women now than ever before in history, some professional women argue that we can’t or shouldn’t want to have it all.

But is it really too much to have a prominent career and a family? Must we make just one choice to tip the balance of power?

I don’t think so — women can have it all, and here is how:

1. Define what “having it all” means to you. Like many women, I didn’t want to work so hard for someone else that I wouldn’t have time for a family. Not only did I want to have a successful career and a family, I wanted the freedom to do the kind of work I pleased.

Yet working for a branding firm in Manhattan, I found myself staying late and coming in on weekends to represent products and companies I didn’t believe in. I was frustrated. I realized that what I wanted most was more control over my hours and over the people, companies and products I worked with.

2. Strike out on your own — gradually, if needed. If you want to avoid what Anne-Marie Slaughter calls the “time macho” of male-dominated corporate culture, why not start a business or a freelance career?

Like any major transition, owning your own business can be a gradual process. After several years of working for a company, I had enough confidence in my work as a graphic designer to strike out on my own and start freelancing. While freelancing, I developed relationships with businesses, potential clients, and other entrepreneurs who wanted to partner with me.

I developed an interest in branding and eventually in how alternative forms of cause marketing could alter the marketplace (and people’s lives). Slowly but surely, I found my way and gradually built a life of freelancing into a business.

3. Make your own rules. Maybe you can accomplish the same amount of work in 50 hours that others can in 90 hours. Maybe you work better from home; maybe you work better at night. Maybe you are more creative if you get enough sleep and spend time with your family. Maybe you want to measure success by results rather than how much time you have logged. Or maybe you think your employees will do better work if you treat them well.

In a world where you set the rules and the measure of success, it is possible to create an alternative culture. It is possible to stop asking to be part of the game (or trying to fit into the game) and start your own game instead.

Over time, I was able to choose clients and associates who shared my vision of a business in which success would be measured by more than revenue, a business that would help make the world a more humane place.

I still work hard, but I choose my own hours, and all my work fuels a vision I have for my new company Maiden Nation — a community devoted to the idea that women can live the lives they imagine for themselves.

You can live the life you imagine, too. The first step is knowing what that looks like.

With degrees in Anthropology from Columbia University and Design from Parsons, Elizabeth Schaeffer Brown represents a brand development vanguard uniting global, technological, and social concerns. She has introduced leading international brands, like Sony Ericsson, into the North American market. Additionally, Elizabeth has founded many sustainable branding initiatives including Choose Haiti and launched this Fall, Maiden NationShe is the co-founder of Maiden Nation and studioe9.com.

The Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, the YEC recently launched #StartupLab, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses via live video chats, an expert content library and email lessons.

EECincyBanner

 

5 Ways to Use Your Competition to Your Advantage

Startup Tips, YEC, Guest PostWhen envisioning and establishing my business, I focused on both short- and long-term goals. My short-term goal was to outgrow a local competitor’s annual gross sales. I knew I wanted to eventually compete with multimillion-dollar giants, but first, I needed to examine my strengths and their weaknesses.

Market competition can create a battleground. My goal was to win the war. This mindset might be controversial, but many businesses have failed because they did not capitalize on their competitors’ faults. I built my business from modest beginnings to achieve multimillion-dollar revenues by distinguishing my venture from others like it. Here’s how:

  1. Analyze the industry. Studying the competition allows you to find weaknesses in their organizations. Begin by subscribing to their newsletters. Approach a competitor as an interested customer so you can see what its sales and customer service processes are like. I was able to gain invaluable information by simply buying a product and noting the logistics of the sales process. You can take it further and visiting the business’ location, which allows you to speak to managers or even the owner. To your benefit, many of these leaders will brag about how they started their businesses — or their own accomplishments. Take note and begin to brainstorm ideas for setting your business apart.
  2. Outshine the competition. Now that you’ve gained knowledge about your competitors, put it to use. Create a more professional, user-friendly website. If applicable, outbid your competitors and secure exclusive contracts with your clients. Work to take your competitors out of the picture. By limiting their market appeal, you can increase your own. Your goal is to provide the most effective and efficient service or product from the start so customers recognize the quality of your company as well as its integrity.
  3. Focus on customer service. Do this by assembling the best team possible. After all, your business is only as good as your employees — they’re the face of your company. Positive and resourceful customer service helps set your venture apart at the outset, since larger companies are simply not as hungry for new customers. Aim to create the best shopping experience for your customers and do not compromise on the quality of your employees. Seek out intelligent and independent individuals who share your passion and vision. Regular communication about business priorities and strategies is crucial to professional and monetary growth.
  4. Create quiet opportunities. This can be difficult. As you’re putting together the best team, best product, and best marketing, you want to keep a low profile. If you’re overexposed, your competitors will notice quickly and begin fighting back for market share. Try to keep your company under the radar as long as possible, while also gaining valuable and dedicated customers. Once those customers understand the quality and reliability of your business, they will remain loyal — despite increased attention or competitors who might offer lower prices or more blatant promotions.
  5. Maintain your lead. You should know your business better than anyone. Be proactive and deliver a quality product or service consistently. The most successful entrepreneurs anticipate future advances in technology, customer service, and production, and incorporate them into their game plans. You need to constantly push yourself and your team to new heights through active research and by attending professional conferences to avoid losing your edge to the competition. Team-building and potential contacts enrich the overall experience.

While a magic formula to benefit from the competition’s weaknesses — and boost your business — doesn’t exist, conducting extensive research is the key to see how your business can better connect with customers. Once you find your niche, you can begin building and maintaining your momentum by delivering quality service and a unique experience. The way to the top can be a war. Make sure you are motivated and diligent enough to be the victor.

Yosef Martin is founder and President of Merchandize Liquidators, a closeout and liquidation wholesale company specializing in selling overstock and customer-returned merchandise from major stores back to the market for a fraction of the original wholesale cost.  A thought leader and entrepreneurial expert, Yosef welcomes anyone to reach out to him on Facebook, Twitter or Google+.

The Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, the YEC recently launched #StartupLab, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses via live video chats, an expert content library and email lessons.

EECincyBanner

7 Fun Ways to Harness Social Media in Your Startup

Tom Cannon, Guest Post, Startup Tips, YECIf your company hasn’t learned to harness the power of the social media world yet, here’s one reason you should: according to Google, nearly 60 percent of people talk more online than they do in real life.

So where do you begin? There are plenty of avenues to take. Here are some ideas for putting your business into the spotlight, gleaned from a recent Ragan Conference in Orlando, Florida.

  1. Host a Google+ Hangout On Air. What do Maroon 5, the Dalai Lama and President Obama all have in common? They’ve all hosted Google+ Hangout On Air sessions. It’s a new spin on having conversations with your audience by allowing them to engage with your product and meet the people behind the brand. Disney, for example, premiered its “Lincoln” film trailer through the Hangout On Air feature. Here’s how it works: log into your Google+ account, click Start Hangout and conduct an online video chat that streams the conversation live. Every Hangout on Air is automatically saved to your YouTube account.  The most important thing to remember: practice beforehand, so you can nail things like lighting and sound.
  2. Start an ambassador program. Your employees can be your best advocates or your worst enemies. Chances are, you’d like to go with the former. Many of them already use social media, so why not harness the energy of engaged employees into something useful? Start by creating a social media customer engagement policy and conduct training. Sprint does this in an entertaining and wildly successful way through its Social Media Ninjas program. They even have “black-belt” ninjas who tout the latest devices. Consider taking that a step further and recruit fans outside of your company as additional ambassadors.
  3. Hold a contest on Pinterest. Pinterest offers a creative and meaningful way to connect with a huge audience –especially female customers ages 25 to 34 — many of whom spend loads of time on the site. By holding a contest, you can connect with a niche audience that was likely not paying attention to your company before, and it can give you insight as to the audience’s needs and wants. TIP: Use curalate.com to measure your Pinterest presence. It finds images about your brand to help you measure your reach.
  4. Tweet with gusto. For starters, let your personality shine through when tweeting. Start the conversation by asking your fans questions so they can generate colorful commentary. For example, Marvel asks its fans for thoughts on movie releases and games. And across the company’s Twitter accounts, hashtags are sprinkled in. The handy little # symbol categorizes tweets by topic and can make a huge difference. Case in point: When the NBA held its slam-dunk contest this year, viewers were asked to vote for favorite dunks using #spriteslam as the hashtag. Likewise, #spriteslam was tweeted 50,000 times in the first two minutes it appeared on-screen. But be sure to check your hashtags ahead of time. The pithy phrase may already be in use, and it may not be in line with your branding. Likewise, have a fresh pair of eyes look over the hashtag. Susan Boyle’s #Susanalbumparty was a PR disaster.
  5. Listen to your fans. When Tasti D-Lite’s technology and digital marketing exec noticed a fan tweeting about potentially buying from the dessert company later in the day, he offered her a Tasti D-Lite coupon and she continued to tweet about how pleased she was with this interaction. This took less than a few minutes to do, but think of how effective it was. Along the same lines, when a Phoenix Suns fan sent out a tweet and photo complaining about a bad seat at a Suns game, the Suns social media team offered the unhappy fan a special seat in a suite. His resulting tweets were positive and influenced his huge audience.
  6. Publish killer content. What makes content good? It has to be engaging enough that people want to share it. Ask yourself is this relevant to my audience? Does it answer a question? Does it provide entertainment? Do you have share buttons next to your content to make it easy for your readers to share it with their friends? And remember, you don’t have to generate all the content. Ask your audience members to guest blog, which will enable you to reach their audiences, too.
  7. Develop a social media strategy. Of course, none of this makes sense if you don’t have goals and long-term thinking in mind. Just like anything else, you don’t want to throw your brand out into the social mediasphere all willy-nilly. Having a strategy will help you plan ahead for contests and such, and it helps you to shape your message. Keep in mind: any good social media strategy should address the good (contests and coupons) and the bad and the ugly (customer complaints).

Tom Cannon is the CEO and cofounder of BungoBox, an Orlando-based company that rents moving containers made of recycled plastic as an alternative to cardboard boxes. Founded in 2009, BungoBox now has 20-plus locations in the U.S. and Canada and plans to open 150 more franchise locations in the next five years as part of a steady and strategic growth strategy.

The Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, the YEC recently launched #StartupLab, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses via live video chats, an expert content library and email lessons.

EECincyBanner