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Saturday, 28 April 2018

Is Email Marketing Dead? - High Paying Affiliate Programs

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Not Even Close:

Learn How to Benefit from Cold Email Marketing in 2018


What’s the average response rate to cold emails?


See; that’s a question that many marketers and business owners are asking. The assumptions are harsh; people usually don’t believe that email marketing works nowadays.


The facts show us that cold emailing no longer works when you want to connect with business people. Fast Company made an experiment; they sent 1000 emails to busy executives. Out of those emails, around 300 bounced. Out of the remaining ones, the open rate was 45.5%. Now that’s a pretty high open rate for this busy category of people. However, only 1.7% of the people who got the messages responded to them. That’s not a good percentage, so it’s no wonder why cold emails are slowly being abandoned in different business practices, especially when trying to get the attention of executives.


When you’re trying to connect with the audience, however, email marketing is not dead. Far from it! In affiliate marketing, in particular, a good campaign gives you great opportunity to make a special offer and establish a quick connection with a potential buyer.


Email Marketing Is Alive and Kicking


Let’s start by explaining why email marketing is still important for any kind of business:


  • Emails are a nice way to inform your audience about a new offer you have. They are also great for reminding people about an active offer, so they won’t miss out on it.

  • Instead of waiting for people to find your promotional content via Google search and social media channels, you can reach out to them.

  • You don’t have to make a huge investment. Email marketing services don’t cost much. There are tons of tools to choose from, so you can easily find one that fits into your budget.

  • The results of an email marketing campaign are easy to measure. You can track the delivery rates, bounce rates, open rates, and click through rates. Any marketing automation tool, such as E-goi for example, will let you track the results of your campaign. This is important, since the analytics allow you to adjust your message in a way that engages more recipients.

  • The art of finding leads and customers is becoming easy to master thanks to automation services. When you use a tool that finds leads for you, you can immediately start sending emails. Since these emails will be targeted to a group of people who might be interested in your offer, you can achieve high conversion rates only if you craft the message well.

How to Make an Affiliate Email Marketing Program Work


Email marketing still works, and that’s a fact. But it doesn’t work for everyone. Will you make your campaign successful? It all depends on the way you approach it.


Affiliate email marketing works in a fairly simple way: once you sign up for the affiliate program, you’ll get hyperlinks and you’ll be allowed to include them in your emails, so you can generate sales. This doesn’t mean you’ll send a simple textual message with a link at the bottom. You have to make your campaign attractive!


Here are few tips to help with that:


It’s All about the Content


Marketing teams have been focusing on driving people towards their websites for over 15 years. They have been setting different traps to attract potential customers and capture their contact information.


Today, things are different. It’s all about the final user. When someone opens an email, they don’t want to be tricked into buying something. They want to see what’s in it for them. If they see an offer that would bring value in their lives, they will accept it.


That’s why you need to write convincing content for your email marketing campaign.


Whenever you’re composing a message, you have to answer that question: “What’s in it for the recipient?” Address them directly and explain how they will benefit from this offer.


If you have trouble composing a clear and inviting message, a writing and editing service like Assignment Masters can help.


Personalize Your Message


According to a study conducted by Aberdeen Group, 96% of organizations believe that personalization improves the performance of their email marketing campaigns. There’s a reason for that!


A personalized subject line means that you’re directly addressing the recipient, with a relevant offer they will benefit from.


So how can you personalize an email? It’s easy: start using the right email service provider. Most of these tools make it very simple for you to personalize the messages and the overall campaign. GetResponse, for example, enables you to plan an individual customer journey based on their data, needs, and actions. That takes personalization beyond using the first name.


Get People on Your Blog


Your own blog is the most useful medium for sharing affiliate links. That’s because it gives you space for providing complete reviews accompanied with photos. You can also feature customer stories, so you’ll offer proof for your claims.


An email message doesn’t give you that much space. When someone opens an email, they just want to see what’s in it, and they expect a brief message with a visual appeal. That’s why it’s important to work on the design of your message. The content should be engaging, but brief.


You’ll provide the affiliate link for people who want to get the product. However, you should also offer a link to a blog post that provides more information for those who are interested, but not ready to purchase yet.


Most of all, affiliate marketing should be enjoyable. You have flexible working hours and you get to promote products and services you really like. Your email marketing campaign will be part of that process, but you shouldn’t feel it as a burden. Approach it as an opportunity that will get you more clicks and more traffic on your blog. A positive mindset changes everything!


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Amazon Spikes Prime Cost to $119, and Dark Chocolate Can Help With Stress and Memory. 3 Things to Know Today.

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Stay in the know in 60 seconds.




1 min read







Amazon more than doubled its quarterly net profit and plans to raise the cost of annual Prime membership by 20 percent, making the new price $119.

In other news: If you're feeling stressed or having memory trouble, dark chocolate with a cacao concentration of more than 70 percent might help, according to two new studies.

And if you're heading to see the new Avengers this weekend, you're not alone. Estimates indicate the film could bring in up to $540 million worldwide. 





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This Founder Stuck Through More Than 700 Investor Meetings to Achieve Her Dream

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Anu Duggal took what she learned as an ecommerce entrepreneur to launch a venture capital firm called Female Founders Fund.




6 min read









In this series, Open Every Door, Entrepreneur staff writer Nina Zipkin shares her conversations with leaders about understanding what you have to offer, navigating the obstacles that will block your path, identifying opportunity and creating it for yourself and for others.

In 2014, Anu Duggal was at a crossroads. She had founded and sold an ecommerce company called Exclusively.in and was ready for her next challenge.

She wanted to take her experience as a first-time tech founder and help other people through the process. As an advisor and angel investor, she met a number of entrepreneurs, and was particularly impressed by the women working to launch businesses.

Familiar with the dire statistics around female entrepreneurs and their ability to raise the funds that they need, Duggal wanted to do something about it. She didn’t just want to support them with money, but with a community that would help them through the rough patches.

“Many of them were looking to get advice from other female operators,” Duggal recalls. "That's what led to the opportunity where I thought I could build a brand that was not just about one person's capital but developing an ecosystem.”

Duggal held more than 700 meetings to bring in like-minded investors into the fold, and  her persistence resulted in the creation of the Female Founders Fund. Nearly four years later, Duggal brought on a partner and the firm is investing out of a second fund. The pair oversee a portfolio of more than 30 companies, including Shine, Zola, Rent the Runway, Peanut and Thrive Global.

Duggal shared the traits that help her overcome setbacks and why shouldn’t be afraid to ask for help.

This interview has been edited for length and clarity.

Related: This Young Entrepreneur Shares the 3-Step Strategy She Uses to Banish Self-Doubt

Can you tell me about a time in your career when you needed to create an opportunity for yourself or others?

As an entrepreneur you're always creating opportunity for yourself versus being in a corporate job where typically your boss is giving you deadlines or projects. Being an entrepreneur means that every day you're either setting your own short-term goals or thinking through on a longer term basis what you're looking to achieve. When I was first thinking about starting Female Founders Fund, I knew nothing about venture capital -- I was coming at it as a tech entrepreneur. I was seeing more and more interesting companies being started by women and felt like there was the opportunity to build a brand where the firm was not just about capital but also about providing access to a larger network of other women who were on similar path or who had already been successful.

In order to create that opportunity, I had to surround myself with people who were industry experts. My biggest piece of advice is when you're thinking about creating an opportunity, don't be dissuaded by having a lack of industry knowledge. Reach out to the people in the industry who can help fill those gaps.

What was at stake for you in this moment?

I was a first-time investor and learning the ropes as I went along. The biggest thing that was at stake was that I ended up having hundreds of fundraising meetings. Luckily I was able to get some fantastic investors. Folks like the founders of Gilt and Birchbox, Katrina Lake from StitchFix, Josh Kopelman of First Round Capital. I had in many cases met these people once or twice and [I was asking them to invest]. I was aiming to prove a thesis, which is you can invest in a portfolio of female founders and generate great returns.

Related: You Need to Meet Your Challenges With Pathological Optimism at Every Turn

What personal traits or strategies do you rely on to create opportunities for yourself and others?   

Persistence. As an entrepreneur you're constantly being rejected. You have to believe in yourself and the vision and not be afraid of rejection -- that's part of the journey. Tied to that obviously is resilience. Waking up every day and finding the energy and the strength to keep going and deal with the setbacks that come with starting something from scratch. The last thing is just the ability to take risks.

When you experience a setback, what do you do to keep going? How do you get unstuck?

I have a close group of friends that are also entrepreneurs and that support system is really helpful. Also, finding ways to disconnect and remind myself that there are other great things in life that are fulfilling. Yoga is my favorite kind of workout activity and [I enjoy] cooking and socializing with friends.

People who want to advocate for themselves don’t know always know how. What are actionable steps they can take to make themselves heard? What steps do you take?

If you're in a more corporate or larger company context then it's taking initiative, suggesting new projects or ideas that go beyond your scope of work. That's recognized and appreciated by the people that you're reporting to. As a fund one of the things that we really focused on is building a brand. So we're constantly thinking about ways to be top of mind for our communities, whether it's email marketing, creating content -- we produce a report every year on the state of female founders getting funding.

Related: Why You Have the Wrong Idea About Who Is a Great Mentor

Has there been a counterintuitive or surprising way you've opened doors for yourself?

Being an outsider to the venture industry has been a positive thing because when you're in an industry you assume that everything is done a certain way. Coming at it as a founder versus an investor has enabled me to develop very close relationships with our founders and be able to empathize with what they're going through.

Was there a blindspot that you had about leadership and opportunity you worked to change within yourself?

Learning how to manage people and egos and how to manage ups and downs has been something that has evolved. When you're starting out in your career you're typically just thinking about your team. Then over time you're thinking about your leadership style. I've definitely seen that evolve in terms of taking the best of what I've learned from other leaders I've worked with and adapting it to my own personal style.







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The Top 100 Franchises for Less Than $150,000

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Check out the top franchises that can be started for less than $150,000, ranked based on their scores they received in Entrepreneur's 2018 Franchise 500 ranking.




8 min read









Buying a franchise doesn't have to break the bank. Below you'll find the top franchises that can be started for less than $150,000, ranked based on their scores they received in Entrepreneur's 2018 Franchise 500 ranking.

This list is not intended to recommend any particular company, but rather as a starting point for your own reserach. No matter how much a franchise costs, you should always carefully read the company’s legal documents, consult with a franchise attorney and an accountant, and talk to current and former franchisees before you invest.

For more budget-friendly franchises, check out our other lists here.

7-Eleven
Convenience stores
Startup cost: 37.6K - 1.1M
Total franchises/co.-owned: 61,086/1,019

RE/MAX
Real estate
Startup cost: 37.5K - 225K
Total franchises/co.-owned: 7,560/0

Great Clips
Hair salons
Startup cost: 136.9K - 258.3K
Total franchises/co.-owned: 4,091/0

Supercuts
Hair salons
Startup cost: 144.3K - 296.9K
Total franchises/co.-owned: 1,721/944

Budget Blinds
Window coverings, window film, rugs, accessories
Startup cost: 105.1K - 225.9K
Total franchises/co.-owned: 1,104/0

Mathnasium Learning Centers
Math tutoring
Startup cost: 102.8K - 143.6K
Total franchises/co.-owned: 892/14

Mac Tools
Automotive tools and equipment
Startup cost: 103.2K - 256K
Total franchises/co.-owned: 1,146/20

Nurse Next Door Home Care Services
Medical/nonmedical home care
Startup cost: 105.1K - 199.4K
Total franchises/co.-owned: 151/1

Express Employment Professionals
Staffing, HR solutions
Startup cost: 130K - 206K
Total franchises/co.-owned: 761/0

Pirtek
Hose service and supply centers/mobile services
Startup cost: 113.6K - 633K
Total franchises/co.-owned: 484/4

Kona Ice
Shaved-ice trucks
Startup cost: 120.2K - 143K
Total franchises/co.-owned: 894/14

Two Men and a Truck International
Moving services
Startup cost: 95K - 666K
Total franchises/co.-owned: 300/2

Lawn Doctor
Lawn, tree, and shrub care; mosquito and tick control
Startup cost: 101.9K - 115.9K
Total franchises/co.-owned: 537/0

Interim HealthCare
Medical home care, medical staffing
Startup cost: 125.5K - 198.5K
Total franchises/co.-owned: 561/0

Waxing the City
Facial and body waxing
Startup cost: 108.2K - 491.4K
Total franchises/co.-owned: 75/1

PrideStaff
Staffing
Startup cost: 112.6K - 237.5K
Total franchises/co.-owned: 72/3

Fyzical Therapy & Balance Centers
Physical therapy, balance and vestibular therapy, preventative wellness services
Startup cost: 82.3K - 390K
Total franchises/co.-owned: 252/17

British Swim School USA
Swimming lessons for ages 3 months and older
Startup cost: 92.2K - 179K
Total franchises/co.-owned: 103/1

Labor Finders
Industrial staffing
Startup cost: 128.5K - 217.96K
Total franchises/co.-owned: 193/0

101 Mobility
Mobility and accessibility equipment sales and services
Startup cost: 116.6K - 215.1K
Total franchises/co.-owned: 173/2

Minuteman Press International
Printing, graphics, and marketing services
Startup cost: 64.2K - 164.5K
Total franchises/co.-owned: 965/0

AdvantaClean
Environmental services, disaster restoration
Startup cost: 105.2K - 240.5K
Total franchises/co.-owned: 236/1

Line-X
Spray-on truck-bed liners, truck accessories, protective coatings
Startup cost: 125.6K - 319.8K
Total franchises/co.-owned: 553/4

City Wide Maintenance
Commercial cleaning, building maintenance
Startup cost: 122.1K - 200.1K
Total franchises/co.-owned: 51/1

Huntington Learning Centers
Tutoring and test prep
Startup cost: 110.1K - 225.7K
Total franchises/co.-owned: 245/35

Mainstream Boutique
Women's clothing, accessories, gifts
Startup cost: 115K - 241.5K
Total franchises/co.-owned: 75/2

School of Rock
Music education
Startup cost: 136.9K - 339.1K
Total franchises/co.-owned: 180/20

Spring-Green Lawn Care
Lawn and tree care
Startup cost: 109.1K - 109.1K
Total franchises/co.-owned: 109/26

Glass Doctor
Auto/residential/commercial glass installation, repair, and replacement
Startup cost: 128.8K - 265.5K
Total franchises/co.-owned: 180/0

Jiffy Lube International
Oil changes, preventative maintenance
Startup cost: 71.7K - 450K
Total franchises/co.-owned: 2,089/0

CMIT Solutions
IT and business services for SMBs
Startup cost: 127.2K - 173.2K
Total franchises/co.-owned: 175/0

Fish Window Cleaning Services
Window cleaning
Startup cost: 83.2K - 146.2K
Total franchises/co.-owned: 271/1

Brightway Insurance
Property and casualty insurance
Startup cost: 107.7K - 160.3K
Total franchises/co.-owned: 152/1

Spherion Staffing
Staffing, recruiting
Startup cost: 100.5K - 167.9K
Total franchises/co.-owned: 182/0

milliCare
Flooring, carpet, and textile maintenance
Startup cost: 106.2K - 149.9K
Total franchises/co.-owned: 77/0

Wild Birds Unlimited
Bird-feeding supplies and nature gift items
Startup cost: 146.7K - 228.4K
Total franchises/co.-owned: 316/0

Experimac
Electronics resales and repairs
Startup cost: 144.4K - 316.1K
Total franchises/co.-owned: 97/3

Rosati's Pizza
Pizza, Italian food
Startup cost: 131.2K - 1.2M
Total franchises/co.-owned: 127/13

L&L Hawaiian Barbecue
Asian-American food
Startup cost: 133.7K - 527K
Total franchises/co.-owned: 184/0

Multivista
Visual documentation services for the construction industry
Startup cost: 128.5K - 541.5K
Total franchises/co.-owned: 62/5

Handyman Connection
Home repairs, remodeling
Startup cost: 101.8K - 159K
Total franchises/co.-owned: 82/0

Seva Beauty
Eyebrow shaping, eyelash extensions, facials, tinting, makeup, spa services and products
Startup cost: 114.7K - 301K
Total franchises/co.-owned: 180/0

ARCpoint Labs
Laboratory testing, HR services
Startup cost: 145.3K - 249.3K
Total franchises/co.-owned: 105/2

Security 101
Commercial security systems
Startup cost: 103.3K - 206K
Total franchises/co.-owned: 36/2

Precision Tune Auto Care
Auto repair and maintenance
Startup cost: 127K - 253.6K
Total franchises/co.-owned: 281/45

CertaPro Painters
Residential and commercial painting
Startup cost: 134.8K - 169.5K
Total franchises/co.-owned: 365/0

Sanford Rose Associates International
Executive search and recruiting
Startup cost: 108.3K - 143.6K
Total franchises/co.-owned: 80/0

Freedom Boat Club
Membership boat clubs
Startup cost: 144.2K - 193.7K
Total franchises/co.-owned: 121/19

Digital Doc
Electronics repairs, sales, and accessories
Startup cost: 128.2K - 195.5K
Total franchises/co.-owned: 30/3

Mighty Auto Parts
Wholesale distribution of auto parts
Startup cost: 144.1K - 372.4K
Total franchises/co.-owned: 102/4

Snap Fitness
24-hour fitness centers
Startup cost: 148.2K - 458.5K
Total franchises/co.-owned: 1,376/42

Tint World
Auto accessories, mobile electronics, security, window tinting, appearance services
Startup cost: 118.1K - 199.7K
Total franchises/co.-owned: 55/0

Any Lab Test Now
Health, drug, alcohol, and DNA testing
Startup cost: 103.1K - 179.6K
Total franchises/co.-owned: 166/0

Aussie Pet Mobile
Mobile pet grooming
Startup cost: 139.9K - 148.9K
Total franchises/co.-owned: 245/0

Dippin' Dots Franchising
Specialty ice cream, frozen yogurt, ices, sorbet
Startup cost: 112.2K - 366.95K
Total franchises/co.-owned: 212/1

Mr. Handyman International
Residential and commercial repair, maintenance, and improvement services
Startup cost: 105.1K - 136.7K
Total franchises/co.-owned: 209/0

Ledo Pizza
Pizza, subs, pasta
Startup cost: 126.3K - 442K
Total franchises/co.-owned: 102/0

Ben's Soft Pretzels
Soft pretzels, dipping sauces, beverages
Startup cost: 117.3K - 332K
Total franchises/co.-owned: 70/14

Cost Cutters Family Hair Care
Family hair salons
Startup cost: 139.4K - 290.2K
Total franchises/co.-owned: 382/236

Fox's Pizza Den
Pizza, sandwiches, wings, salads
Startup cost: 111.6K - 210.1K
Total franchises/co.-owned: 230/0

Wireless Zone
Wireless devices, services, and accessories
Startup cost: 142.5K - 328.5K
Total franchises/co.-owned: 335/0

Concrete Raising of America
Concrete raising, leveling, stabilizing, and repairs; cement grout injection
Startup cost: 34.9K - 249.4K
Total franchises/co.-owned: 11/0

CKO Kickboxing
Kickboxing fitness classes
Startup cost: 112.99K - 378.4K
Total franchises/co.-owned: 74/1

Fantastic Sams Cut & Color
Hair salons
Startup cost: 145.4K - 317K
Total franchises/co.-owned: 1,045/3

Good Feet Worldwide
Arch supports, related products
Startup cost: 117.7K - 183.2K
Total franchises/co.-owned: 119/9

Snip-Its
Children's hair salons, party services
Startup cost: 129.98K - 239.4K
Total franchises/co.-owned: 62/2

Home Instead Senior Care
Nonmedical senior care
Startup cost: 108.9K - 124.9K
Total franchises/co.-owned: 1,077/6

Cookie Cutters Haircuts for Kids
Children's hair salons
Startup cost: 100K - 260K
Total franchises/co.-owned: 42/1

Martinizing
Dry cleaning and laundry services
Startup cost: 125.8K - 693.5K
Total franchises/co.-owned: 379/0

Tubby's Sub Shop
Subs
Startup cost: 102.9K - 283.5K
Total franchises/co.-owned: 59/0

Amramp
Wheelchair ramp rentals and sales
Startup cost: 130.8K - 211.3K
Total franchises/co.-owned: 48/2

TacoTime
Mexican food
Startup cost: 144.7K - 814.1K
Total franchises/co.-owned: 274/0

Fleet Clean USA
Mobile commercial-fleet washing
Startup cost: 100.9K - 346.4K
Total franchises/co.-owned: 22/6

Fitness Together
Personal training
Startup cost: 125K - 190.8K
Total franchises/co.-owned: 147/0

Philly Pretzel Factory
Soft pretzels
Startup cost: 131.99K - 368.2K
Total franchises/co.-owned: 173/10

Bricks & Minifigs
Lego resale stores
Startup cost: 108.5K - 276.4K
Total franchises/co.-owned: 34/1

Concrete Craft
Decorative concrete coatings
Startup cost: 112.9K - 190.6K
Total franchises/co.-owned: 19/0

The Great Frame Up
Custom framing and wall decor
Startup cost: 111.97K - 182.6K
Total franchises/co.-owned: 78/0

Color Me Mine Enterprises
Paint-your-own-ceramics studios
Startup cost: 146.1K - 193.8K
Total franchises/co.-owned: 131/10

Hoodz International
Commercial cleaning, maintenance, and repairs
Startup cost: 106.5K - 181.8K
Total franchises/co.-owned: 128/10

Apricot Lane Boutique
Women's clothing, accessories, gifts
Startup cost: 135.9K - 341.8K
Total franchises/co.-owned: 73/0

Trend Transformations
Residential and commercial remodeling
Startup cost: 123.9K - 470.3K
Total franchises/co.-owned: 156/0

Auto-Lab Complete Car Care Centers
Auto repair and maintenance
Startup cost: 130.8K - 313.5K
Total franchises/co.-owned: 25/0

fab'rik
Women's clothing
Startup cost: 113.7K - 190.8K
Total franchises/co.-owned: 37/5

Jazen Tea
Fruit and bubble teas, slushies, smoothies, snacks
Startup cost: 118K - 197.5K
Total franchises/co.-owned: 7/11

Re-Bath
Bathroom remodeling
Startup cost: 123.9K - 330.7K
Total franchises/co.-owned: 114/0

Family Financial Centers
Financial services
Startup cost: 149.7K - 303K
Total franchises/co.-owned: 44/0

Advanced Maintenance
Commercial-fleet maintenance, repair, and management services
Startup cost: 117.7K - 174.6K
Total franchises/co.-owned: 12/2

Instant Imprints
Embroidery, signs, banners, promotional products
Startup cost: 139.8K - 304.3K
Total franchises/co.-owned: 53/1

Max Muscle Sports Nutrition
Sports nutrition products, weight-loss consulting, athletic apparel
Startup cost: 114.6K - 281.3K
Total franchises/co.-owned: 127/0

Preppy Pet
Pet daycare, boarding, grooming
Startup cost: 100.95K - 248.2K
Total franchises/co.-owned: 15/1

Meineke Car Care Centers
Auto repair and maintenance
Startup cost: 123.1K - 572.4K
Total franchises/co.-owned: 915/11

Boomarang Diner Franchising
50s-and-'60s-themed diners
Startup cost: 109.8K - 508.1K
Total franchises/co.-owned: 48/0

The Max Challenge
10-week fitness and nutrition programs
Startup cost: 131.9K - 280.6K
Total franchises/co.-owned: 54/1

Fun Bus Fitness Fun on Wheels
Mobile children's fitness and entertainment
Startup cost: 140.5K - 171.8K
Total franchises/co.-owned: 25/1

Sharkey's Cuts For Kids
Children's hair salons
Startup cost: 124.9K - 151.99K
Total franchises/co.-owned: 53/1

You Move Me
Moving services
Startup cost: 104K - 192.9K
Total franchises/co.-owned: 37/0

Paciugo Gelato Caffe
Gelato, pastries, beverages
Startup cost: 103.5K - 455K
Total franchises/co.-owned: 32/4

Le Macaron French Pastries
Macarons, pastries, gelato, chocolates, specialty coffee and tea
Startup cost: 91.8K - 373.5K
Total franchises/co.-owned: 43/5

Splash and Dash Groomerie & Boutique
Pet products and grooming
Startup cost: 118.3K - 218.5K
Total franchises/co.-owned: 16/0







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The 6 Questions I Ask Before I Say 'Yes' to Anything

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It's okay to value your time and energy -- in fact, it's important.




8 min read





Opinions expressed by Entrepreneur contributors are their own.







When I started my business at 19 years old, I was so hungry to grow it that I said yes to just about any conference, any opportunity and anyone who would meet with me. Any idea I had was worth pursuing.

It worked out. I grew my business to be my full-time job out of college, and we're now six years strong. I credit a lot of the growth to just showing up and saying yes. Opportunities couldn't happen to me if I wasn't there for them. For years, I've been armed and ready to seize every glimmer of opportunity and give it my all.

But in 2017, I found myself still saying yes -- without the same energy as I did before. I would agree to meet for coffee so someone could pick my brain about their business idea when I was slammed with work. By the time I was done, my energy for my goals and dreams was depleted.

Around Thanksgiving of last year, I started to realize that saying yes to everything was putting me on a path to burnout. With still so much I wanted to do with my business, burnout was not an option. At the age of 26, I felt I should be speeding up, not slowing down. But, ironically, I realized the key to speeding up in the areas that I wanted to grow was actually taking time to slow down.

I began to think of myself every morning as a full cup of water (or cup of coffee, usually). Each effort I made that day was a drip out of that glass. When the glass was empty, I had nothing left to give for that day. With each action I took, I could mentally see the glass getting lower.

I became more selective about where I put my time and energy. Just as I might work with an accountant on allocating my funds for different projects I want to pursue, I wanted to direct my energy where it was needed. I wanted my glass each day to go toward things that meant something to me, not just because I felt like I had to say yes.

The first step to doing less is being selective about what you choose to take on. With that, I ask myself ...

Related: Sleep In and Make Millions: Why You Don't Need to Wake Up at 5 A.M.

1. What purpose does this serve?

In years past, I was committing to things because I felt like I was supposed to or I didn't want to say no. But, now, I ask myself what purpose does this serve? Will this help any of my goals? Will I learn? Will this help something that's meaningful to me? Or, perhaps one of the most important questions I've started to ask myself, will this be fun?

If you ask yourself these questions and don't feel compelled by your answers, it's okay to pass. But, I also try to stay away from just transactional opportunities that serve my business or professional career. If the only reason I say yes is because I think it will be really fun, that's a good enough reason for me!

2. Why am I afraid to say no?

One of the biggest reasons I would say yes to things I didn't want to do was because I didn't know how to say no. I felt like it was a slap in the face to the person who was asking and I never wanted to offend anyone. But, I've learned that I don't get offended when people say no to me. In fact, I'd rather someone be honest with me than say they'll do something and flake out later. So what was I so afraid of?

I got more comfortable with my response of thanking someone for thinking of me, passing at this time, wishing them the best of luck. Everyone might have a different way they like to let people down gently. Find what works for you and stick with that.

Related: 10 Habits That Will Dramatically Improve Your Life

3. What else could I be doing with this time?

I started public speaking professionally when I was 20 years old. It's one of my favorite things to do, but I realized it drains a lot of my cup between traveling, prepping for the opportunity, and then giving my all on stage for an hour and meet-and-greets afterwards. I typically speak professionally around 30-40 times a year, but I get dozens of emails every week asking me to speak for free at an event. While I really do love that someone wants to hear my message, I've learned how much effort goes into every time I get on stage and the true value that I bring.

Speaking for free initially was a great way for me to learn and build my credibility, but I've come to a point where I'm confident enough in what I deliver to hold strong to that value and I also understand the toll it takes on my energy, because I'm giving it my all.

Give yourself permission to value your time, even if that means turning down unpaid work.

4. Can I delegate this?

As a college solo-entrepreneur, I didn't have money to hire anyone two years into my business. I did everything, and that was actually a really good thing because I learned about all sides of the business, even the parts (like numbers) that I was uncomfortable with. But, once the business started gaining momentum, I could afford to hire some helping hands.

But, I was stuck with the thought why would I pay someone to do this when I could do it myself? I was wrong for two reasons:

  1. A lot of people out there are better than me at a lot of things.
  2. Even if I could do it myself, it's not the best use of my time.

Now, my team is 10 times more productive than I ever was as a solo-entrepreneur. My assistant also helps as a gatekeeper to my schedule to make sure I'm not overcommitting myself, which is super helpful.

5. What is stealing my energy?

The quickest way to drain your energy is by worrying about what other people are doing and going crazy over things you can't control. Beyond my physical time, I've allowed comparison and anxiety to completely drain my energy and leave no room for anything creative or meaningful.

At the end of the day, I challenge myself to remember that someone else's success does not mean there's no room for mine.

Related: When Your Home Life Is Stressful, Your Business Suffers

6. How do I refuel?

This might sound crazy, but this whole revelation I had about the benefits of doing less began in July when I found a dog on Craigslist and less than 24 hours later, he was mine. Suddenly, my life took a shift. I was taking Ollie (my dog) on multiple walks in the park every day. I was waking up and playing with him instead of checking my email. I was snuggling with him on the couch at night instead of scrolling through social media. Then when it was time to work, I was totally refueled and present. Ollie gave me an excuse to slow down, be playful, and break up the day with fresh air.

Removing yourself doesn't mean you're falling behind, it's actually refueling you to make better use of your time when you're ready to work. I now realize I'd rather have four hours of high quality work where I'm refreshed and creative than 10 hours of work where I'm going through the motions and can't think straight.

My team always laughs at me because whenever I have a long car ride, I always call them with tons of new ideas. When the juices are flowing, they always say Jess must be driving right now. And the reason I have ideas while I'm driving is because I'm removed. I'm not on my phone or on the internet or talking, I'm just quiet with my own thoughts. When that happens, it opens a space in my head that grows great ideas. But, most of the time, that space is too cluttered from being overly connected.

Being so hyper-connected all the time, it's so easy to see snapshots into everyone's lives and feel like you're falling behind or you should be doing more. Our social norm is that being busy is a badge of honor. But, this year, I'd like to debunk that myth because being busy all the time is an inefficient (and not very fun) way to accomplish your dreams.

I'm still a work in progress, but visualizing my energy as a tangible element has helped me understand how I work and has given me permission to do less, so I can do more in the areas that matter.

So where do you go from here?

Identify areas that are draining to your energy (either change your approach, delegate or remove). Target the goals that matter to you. Leave room for what lifts your spirits (like a dog!). Take a deep breath and start there.







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GDPR and Social Media Privacy Reform : Social Media Examiner

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social media researchWelcome to this week’s edition of the Social Media Marketing Talk Show, a news show for marketers who want to stay on the leading edge of social media.


On this week’s Social Media Marketing Talk Show, we explore how marketers are preparing for GDPR with Danielle Liss; Facebook ad updates with Amanda Bond; Snapchat, Pinterest, and more with Jeff Sieh; and other breaking social media marketing news of the week!


Watch the Social Media Marketing Talk Show


If you’re new to the show, click on the green “Watch replay” button below and sign in or register to watch our latest episode from Friday, April 27, 2018. You can also listen to the show as an audio podcast, found on iTunes/Apple Podcast, Android, Google Play, Stitcher, and RSS.



For this week’s top stories, you’ll find timestamps below that allow you to fast-forward in the replay above.


Marketers Prepare for the European Union’s Comprehensive GDPR Laws: The General Data Protection Regulation (GDPR) is a set of European Union (EU) laws that provide greater protection for consumers’ privacy and set strict guidelines on how personal information is collected, stored, and used. This new policy is taking effect on May 25, 2018, and is specifically focused on citizens of the EU and any companies doing business in the region. Our guest, Danielle Liss from Hashtag Legal, explains how GDPR affects social media marketing and how businesses can prepare to comply before May 25. (3:58)


Facebook Refines Ad Targeting Policies: Late last year, Facebook halted ad targeting that discriminates against ethnic groups and other sensitive segments of the population. Facebook worked with privacy, data ethics, and civil rights experts, and charitable and advocacy organizations to develop an ad targeting policy that’s both safe and civil. The company rolled out new prompts that remind advertisers about Facebook’s anti-discrimination policies before they create an ad campaign. Facebook has also refined its exclusion tools by removing thousands of categories from exclusion targeting. (25:40)


Facebook rolled out new prompts that remind advertisers about Facebook's anti-discrimination policies before they create an ad campaignand when using its exclusion tools.


Facebook Clarifies Advertising Process and Data Practices: Facebook outlined the basics of how advertising works on Facebook and answered the most frequently asked questions about its advertising practices. In a blog post on Facebook’s Newsroom blog, Vice President of Ads Rob Goldman explains how information from using Facebook, advertisers, and third-party websites is used to target ads to individuals. He also illustrates how users can control, manage, and even delete their data from Facebook to opt out of ads in an infographic. (30:20)


Facebook Expands Pre-Roll Video Ads and Tests New Video Ad Tools: In a post on the Facebook Media blog, Facebook shared early best practices on how creators and publishers can create videos that “people seek out and return to regularly” and announced new video monetization opportunities. Facebook began testing pre-roll video ads on Facebook Watch videos earlier this year. With such positive results, Facebook is expanding this test to “places where people seek out videos” such as search results or on pages. (37:33)




In this same announcement, Facebook also announced that it’s testing a new show “preview” trailer format that allows viewers to discover new Watch episodes in the news feed, a feature that automatically detects the ideal spots for ad breaks within eligible videos, and the option to submit videos for monetization eligibility review prior to posting.


Snapchat Introduces Shoppable AR Lenses: Snapchat introduced a new Shoppable AR feature to its augmented reality Lenses. Shoppable AR makes it possible for brands and marketers to add a button directly to a Lens that users can tap to visit a website, install an app, or watch a longer video like a movie trailer or how-to tutorial. Snapchat is testing Shoppable AR Lenses with four select media partners before possibly expanding them to more brands. (43:36)









Snapchat Supports User-Generated Face Lenses: In addition to introducing Shoppable AR Lenses, Snapchat also enabled the ability to create customized Face Lenses in Lens Studio. Prior to this update, developers could only create a World Lens within in Lens Studio. Now developers can access seven new templates for creating AR masks, distorting facial features, adding stylized overlays and 2D and 3D objects, and more for Snapchat. In addition, Snapchat announced a new integration with Giphy that will give Lens Studio developers access to a massive library of animated GIF stickers that can also be added to Lenses. (46:49)




Snapchat Releases Augmented Reality Games: Snapchat introduced Snappables, new Lenses that use touch, motion, and facial expressions to play augmented reality games within the app. Users can choose a game and either compete with or play along with friends. Snappables live alongside Snapchat’s other Lenses and new ones will be released every week on both the iOS and Android versions of Snapchat. (47:54)



Snapchat Debuts Spectacles V2: Snap Inc. released Spectacles V2, which features a slimmer profile, charging case, and the ability to capture photos, as well as videos. The new Spectacles are also water-resistant, come in three trendy colors, and have prescription options. Spectacles V2 are available for purchase online or within the app in the U.S., Canada, UK, and France, then in 13 more European countries on May 3. (48:59)



Snapchat Tests 6-Second Unskippable Ads: Digiday reports that Snapchat will start testing 6-second, unskippable ads in its TV-like shows as part of a trial period starting May 15. The new ad format, called Commercials, will run in select Snapchat Shows, but not in Snapchat’s Discover section or users’ personal stories. (51:40)




Pinterest Rolls Out New Business Profile and Insights: Pinterest rolled out a new business profile that features a dynamic cover image. This new feature allows brands to highlight the content that they want customers to see first such as their latest pins, specific boards, or most recent Pinterest activity on their site. Pinterest for Business also added a new stat that reports “the total number of people who saw your Pins in the last 30 days.” Both of these updates, along with the recently announced Following tab, will be rolling out “over the next couple months.” (52:30)


Pinterest rolls out new Business Profile and insights.


Pinterest Releases New Features to Assist Visually Impaired Users: Pinterest rolled out several new features that will make the app and website more assessable for pinners who are blind or visually impaired. These updates include better screen reader support, color contrast sensitivity improvements, and focus indicators. (54:44)


Pinterest releases new features to assist visually impaired users.


Instagram Enables Multiple Image Uploads on Android: Android users now have the ability to upload multiple photos and videos to their Instagram stories all at once. Instagram will also automatically suggest location stickers based on places around where an image or video was captured. These updates are currently available on Android and will be coming to iOS “in the coming weeks.” (55:44)


Android users now have the ability to upload multiple photos and videos to their Instagram Stories all at once.







Want to catch our next show live? Click here to subscribe or add our show to your calendar.




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'This Is Climate Change' Tells an Urgent Message Via Virtual Reality

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Whether you're selling a product or a societal warning like global warming, VR is the wave of the future.




3 min read









Imagine: You're wading through chest-high jungle in the Amazon Rainforest beside sweaty workers slashing through the brush to create the broad open fields that will grow soy for Brazil's greedily expanding cattle industry.

Suddenly you're hovering over the kill chute of a slaughterhouse where a panicked cow paces back and forth, consigned to become society's next steak dinner.

Related: 12 Amazing Uses of Virtual Reality

Just as suddenly, you're on the bone-dry plains of Somalia where camels graze and where your guide sadly comments how, "We used to have four seasons," because what is now below your feet isn't a fertile field, but sand and endless drought. Your next stop is that which the drought has wrought: a fly-infested clinic where starving Somalian babies, cradled by desperate mothers, seem so close to you that you could almost reach out to comfort them.

Finally: You're experiencing a cold snowy scene in Greenland beneath a piercing blue sky, gazing up warily as huge chunks of glacier plunge down, right in front of you, into a raging river of ice floes which could have sunk another Titantic, but now, in the modern day, are emblematic of what is sinking Planet Earth.

These are some of the up-close-and-personal experiences you'll have viewing the four-part virtual reality (VR) "docu-series" This Is Climate Change, which had its premiere last week at the Tribeca Film Festival. The 11-minute segments are titled "Feast," "Famine," "Melting Ice" and "Fire." (The latter puts you aboard a plane beside brave firefighters battling last fall's disastrous California forest fires.)

The series was produced by Jeff Skoll (of eBay fame) and his activist company Participant Media, And it serves to underscore once again the "you-are-there" power of VR -- as opposed to the two-dimensional flat-screen experience of a film like An Inconvenient Truth -- when it comes to getting out the message of urgency about climate change.

Related: Can Corporates Save the World from Climate Change?

VR intensifies that urgency exponentially because you, the viewer, are right there, in the middle of that melting ice, those starving babies, those enormous cattle feedlots, those California fires. 

If you've got something to sell, then, be it a product or an urgent social message, VR promises to be the wave of the future. That was the message from This Is Climate Change filmmakers Danfung Dennis (founder the VR company Condition One) and Eric Strauss during a video interview with Entrepreneur.com. If you want to experience -- yes, experience -- climate change, check out the series' trailer (password; WITHIN) or acquire the app at Within.com.







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5 Life Lessons Essential for Business Success

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Step outside of your comfort zone, and never forget where you came from.




6 min read





Opinions expressed by Entrepreneur contributors are their own.







There are many truths in starting and operating a successful business. Many business truths are common sense concepts -- like if you run out of cash, your business might not make it. But, you can also draw on general life lessons when growing your business.

I’ve been in the entrepreneurship game for more than 30 years now. I’ve applied a lot of the lessons I learned in life to starting and growing my businesses. And believe it or not, keeping these in mind has helped my businesses succeed.

1. Take the plunge sooner rather than later.

If you’ve been thinking about starting a business but haven’t gotten around to doing it, what are you waiting for? Of course, it’s important to conduct a business risk analysis and develop a solid business plan. But if you’ve done all of your homework and keep waiting for “the right time,” you might be waiting for a while.

You often hear that there’s no perfect time to do certain things in life. It’s easy to make excuses as to why you’re putting off your dreams -- like traveling, buying a home, etc. Starting a business is the same way. But, taking risks is all part of the fun of living life to its fullest -- including starting a business. Being able to take calculated risks is an important attribute of entrepreneurs.

Related: Your First Year in Business Is Mostly About Surviving

By default, anyone who starts a business is a risk taker. There’s no guarantee a business will survive. But, taking that initial plunge is the first step in proving that you have what it takes to live out your dream.

Taking the plunge doesn’t just apply to those of you thinking of owning a business. It also applies to those of you who are already business owners. Each day in business, you take risks. Should you unveil a new line of products or services? Should you invest? Should you expand your business?

If you wait too long to take the plunge, you might miss a golden opportunity.

2. Push yourself outside of your comfort zone.

To grow as an individual, you need to stretch yourself. You might try new foods, change up your routine, or travel somewhere you’ve never been. Every one of us goes through difficult situations and has opportunities to leave our comfort zone. Likewise, you need to be willing to leave your comfort zone when you start or own a business.

Facing situations that are outside our comfort zones is just a part of life. If we refuse to leave our comfort zones, we could miss out on big things. And, it could lead to the destruction of your business.

Successful business owners are comfortable pushing the envelope in most things they do. I forced myself to leave my comfort zone throughout my entrepreneurship journey, and in my life, and I’m so glad I did.

I’ve always been more of an introvert than an extrovert, and in my startup days, the thought of public speaking terrified me. As a business owner, I knew I needed to conquer my fears. To date, I have spoken at about 70 business conventions. Writing was not my forte, either. I graduated from college with an engineering degree, so I didn’t practice my writing much. But once I started my first business, I forced myself to write a 20-page weekly newsletter. I did this for eight years!

I’m 100 percent sure that my willingness to conquer my fears and push myself outside my comfort zone was instrumental to the growth and success of my businesses.

So, what’s your comfort zone look like?

Related: 3 Ways to Get Out of Your Comfort Zone and Improve Yourself in 2018

3. Strengthen your communication skills.

Having good communication skills will help get you far in life. Being able to communicate helps you make connections, diffuse conflicts, vocalize your viewpoints and understand what others have to say.

Likewise, I’ve learned that communication skills are essential for growing your business. In fact, they just might be the most important trait for business growth. You don’t have to be a TV talk show host, but you must be willing to be a little outgoing.

If you’re a good verbal communicator, can speak well enough that people understand you and are able to speak in front of an audience (if necessary), your odds of business success increase.     

Public speaking and writing were very limiting constraints for me when I started my business. I was terrified of public speaking, and I was a terrible writer!  If you want to strengthen your communication skills, practice. Consider starting a blog or speaking in public. And, you can practice every day in your personal life, too!    

4. Stay loyal to the people who helped get you where you are.

Think about all the people you’re loyal to in your personal life. And, think about how strong that relationship has to be for you to want to be loyal to them.

Being loyal in business is another vital part of business growth. It’s important to stay loyal to the people who have helped you get where you are, especially your employees and customers. When you’re loyal to your employees, you can expect high retention rates, quality work and increased employee engagement. When you are loyal to your customers, you don’t sacrifice the quality of your offerings. You help them work through questions and concerns they have.

If you remain loyal to your customers and employees, the majority will remain loyal to you.

Related: Why You Should Launch a Loyalty Program in 2018

5. Embrace failure.

Failure is probably one of the least liked words in the English language. But if we spend all our energy getting self-conscious and closing off when we fail at something in life, we won’t be able to bounce back, learn from it and grow. In life and business, once you learn what causes failure and learn how to recover, you have a recipe for success.

Business failures might shake you up for a bit. But instead of thinking that every failure is going to end in small business bankruptcy, you can look at them as learning experiences. Every time you fail in business, you have the opportunity to turn your situation around.

Running my businesses hasn’t always been a walk in the park. I’ve made decisions that cost me money, and I faced failure during the Great Recession. At first, I didn’t want to admit that these failures were happening. But once I did, I embraced and fought through them. Thankfully, my startups pulled through. And, I learned a great deal from that those experiences.

Sometimes, the only way to learn important lessons is by failing.    







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Kym Gold Explains How She Started True Religion, Then Sold It for $835 Million

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Kym Gold discusses how she disrupted an entire industry, scaled and sold her company for hundreds of millions and more.




1 min read





Opinions expressed by Entrepreneur contributors are their own.





Kym Gold is the co-creator of True Religion Brand Jeans; author of the business book, Gold Standard: How to Rock the World and Run an Empire, and producer for projects with a social conscience, including the documentary, SLAG: Served Like a Girl. Kym’s unwavering drive has helped her achieve success as a designer and entrepreneur. She shares tips about life, business and selling her company for more than $800 million.

Related: Rapper Nipsey Hussle Reveals the Art of Being a Self-Made Millionaire





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What You Can Learn from This 19-Year-Old Bitcoin Investor

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Crypto still makes me nervous. Maybe it’s the fact I was coming of age between 9/11 and the 2008 financial crisis. I graduated from college during the aftermath of that crisis.


And then I see the people who are already rich because of cryptocurrency investments and I wonder if my feelings are wrong. Besides, I’m no Luke Skywalker here. I can’t really trust my feelings can I?


There is one bitcoin investor out there who is already a millionaire after seven years and he’s saying everybody should ignore their “feelings” about bitcoin and invest. His name is Erik Finman and he’s only 19.


1. The Kid Who Invested His Birthday Money


Most kids will spend their birthday money on a new video game or toy. And if they get $1,000 dollars for their birthday, then they buy a computer or a virtual reality headset. But not Erik Finman.


Finman bought Bitcoin with his birthday money.


Let’s set aside the fact most kids wouldn’t get even $500 for their 12th birthday (I can’t help but see Erik as a privileged brat, albeit a smart one), but kids like Erik are pretty rare. Finman was a failing student in school. His GPA was an incredible 2.1 and he claims a teacher told him to just drop out and work at McD’s.


He didn’t want to go to college. He even made a bet with his rich parents that if he became a millionaire by the time he turned 18 he could skip college. They agreed and Erik got to skip college.


He took the 1k Euros his grandmother had given him to invest in college and bought bitcoins in 2011. Bitcoins were only 10 Euros a piece at the time. But those 100 $10 Bitcoins he bought turned into 401 $8,512 Bitcoins.


Erik Continued to Invest


Some people might sit on their wealth like a dragon and his treasure. Erik did no such thing.  


Once his investments hit $100,000, he sold them and started a company called Botangle. After growing his company, he sold it for 300 bitcoins.


His interests are varied as he’s invested in Nasa recently. He’s helping them launch research satellites into space.


The kid is busy. He speaks at various conferences and he manages his family’s bitcoin investments.


This should be a lesson to any teacher who has given up on a student. We’re talking about a kid who had a 2.1 GPA and dropped out of high school here.


Crypto is the Future


Erik Finman believes cryptocurrency is the future. Fiat currency is still the norm right now, but he believes it’s not different than bitcoin and other crypto. It’s just numbers and make-believe money the same as government-backed money.


Some people have claimed that crypto is nothing more than Monopoly money. A plaything for people who like to make bets. But people like Erik believe it’s going to supplant other currencies one day.


It’s the libertarian dream. A currency that’s unregulated and free of any one government. And it’s an extremely cyberpunk version of our future.


But he does admit that cryptocurrency technology will have to change.  Right now, to mine bitcoin 343 megawatts or the equivalent of 285,833 U.S. homes (average) is what it takes. That’s a conservative estimate.


In the U.S. we’ve moved to more environmentally friendly energy production methods. But most crypto-miners are in China where the country relies heavily on coal-produced energy. Thus, crypto is destructive to the environment as it stands.


The crypto-mining business has inflated the price of PC’s as well. Four years ago, you could be a powerful PC for under $1000. No longer.


Gaming machines use GPUs or graphics cards for rendering images on a screen. Crypto mining machines use them to mine cryptocurrencies. When demand goes up so does price.


Gamers are up in arms about it, but perhaps they should invest in cryptocurrencies so they can afford their gaming hobby.


Finman Tells Millennials (and Founders) to Invest


Some people think Finman is an idiot teenager. But he’s one of the leaders of the next generation of investors. And if he can convince two whole generations to invest in crypto, his cyberpunk dreams might just become a reality.


What does Finman suggest young people do to get enough money to invest in Bitcoin? Find something they love doing. Start a YouTube channel, start a brand, do something and turn a profit from it.


He also believes you should invest ten percent of your income in Bitcoin. The general concensus is that you should invest 20% of your income in retirement for comparison.


He does give a warning. Only invest money you are willing to lose.


This is why many Wall Street gurus say it’s a bad idea. Crypto is extremely risky according to traditional financial wisdom. It’s already taken one huge tumble and it’s entirely possible it will completely tank one day.


It’s Your Fault If You’re Not a Millionaire in 10 Years


This sounds like a something a kid would say. But you’ve got to remember the kid who said it is actually a millionaire.


Now, not all of us get $1000 as birthday money. But many people in the Millennial generation have at least that much in savings. What would happen if they all invested in crypto?


Now that’s a thought to chew on. If you want more investment and entrepreneurial news, check out the rest of Shoemoney.com.


 



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3 Ways to Harness the 'New Power' That Let Airbnb, Kickstarter and Other Companies Climb to the Top

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The most powerful companies and movements use mass participation and peer coordination to grow and succeed.




7 min read









Dictionaries pin down the first known use of the word “power” to between the years 1250 and 1300 -- the same century that brought us classics including “poison,” “pitchfork” and “patience.”

Although the literary definition of power hasn’t changed, recent years have seen a shift in its cultural meaning. That’s what authors Henry Timms and Jeremy Heimans aim to explore in the book New Power, a window into how “new power” structures influence society, business and politics in the 21st century.

What is “new power”?

There’s a reason why the likes of Airbnb have overtaken Hilton in revenue, argue Timms and Heimans. Simple investing apps with a focus on accessibility continue to grow in popularity, even as large investment management companies seem to rest on their laurels. And movements born online -- #BlackLivesMatter, #MeToo and even the A.L.S. Ice Bucket Challenge -- have induced change on a global front. (The latter of the movements resulted in $115 million donated to the A.L.S. Association and helped in the discovery of a new gene tied to the disease.) The idea of new power is what these events have in common.

“Think about who’s coming out on top in the world right now,” Timms says. “Whoever comes to mind … chances are, they’re going to understand new power.”

New power can be thought of as the ability to channel the energy of a collective crowd, and some companies -- especially ones on the rise -- are doing this better than others. As for when this cultural shift began? Change accelerated over the past 15 years as the internet became social and enabled hyperconnectivity.

On the flip side, today’s companies are also affected by the sentiments of large groups of consumers in a way they haven’t been in the past. Exhibit A: Following the Feb. 14 high school shooting in Parkland, Fla., and the subsequent movements around it, retailer Dick’s Sporting Goods pulled assault-style firearms and high-capacity magazines from its shelves and now plans to destroy them. Exhibit B: Following the arrest of two African-American men waiting to meet a friend at one Starbucks location, the company will close its stores on May 29 to offer anti-bias training to about 175,000 employees. Widespread commentary via the internet and social media played a significant role in these decisions -- and demonstrates the sheer capacity of new power.

Here are three way to tap into new power for your business.

1. Build an authentic relationship with consumers.

In today’s new power landscape, building a meaningful relationship with the crowd is a key ingredient for business success. That’s because this type of brand loyalty often directly translates into a company’s ability to mobilize its community. Traditional power used to be largely restricted to companies with extensive funding or scale. Now it’s possible to harness the same power collectively through a distributed network of consumers, says Arun Sundararajan, professor of business at New York University and author of The Sharing Economy.

On the flip side, it’s important for businesses to recognize that the consumers they rely on now have the ability to be a powerful collective in their own right. To that end, companies should funnel energy into shaping a positive “platform culture” -- and establish the right kind of direct relationship with consumers -- in the same way that an organization with full-time employees thinks about corporate culture. “Anticipating the potential emergence of new power … should be one determining factor of how you design your business,” Sundararajan says.

2. Link a product or service to a higher purpose.

Another component of this kind of success is connecting a high-quality product or service to a sense of higher purpose. This can take forms including charitable donations, social movements or supporting small businesses.

One example? Flat reusable water bottle memobottle was created to combat the environmental impact of single-use bottles, and each bottle sold provides one person with two months of clean drinking water via nonprofit Water.org. The memobottle was funded on Kickstarter after upwards of 6,000 backers pledged more than a $250,000. In this way, the company created a product that was seen as high-quality (a new kind of water bottle designed to easily fit into bags), linked it to a higher purpose (saving the environment and bringing clean drinking water to those in need) and -- see the next point -- mobilized its community (asked for launch help via a crowdfunding platform).

Using new power helped memobottle rise to success -- and the product even made its way into the official gift bag at the 2016 Oscars.

3. Mobilize the community you’ve built.

There’s a final ingredient for business success in the realm of new power, Timms says, and it multiplies the returns of the other factors. This ingredient is the “participation premium” -- or the way a business encourages people to participate directly. It’s about building a “brand that people will really want to take part in,” Heimans says.

Crowdfunding platforms such as Kickstarter are a prime tool for this. If people are engaged in a product or service and feel they’re helping to get it off the ground, they have a higher stake in its success -- and they’ll also pay more for it. The problem, Timms says, is that many old-power executives don’t trust customers enough to do anything except purchase the product.

Companies such as BrewDog, an offbeat Scottish beer brand, have embraced the new approach. Community votes help the company decide which types of craft beer will be produced next, and a festival doubles as the company’s annual meeting. BrewDog launched through crowdfunding, and anti-establishment company turned customers into shareholders by offering an equity program billed as “Equity for Punks,” which further upped community involvement.

Other companies that have built meaningful user relationships include Airbnb, which encourages hosts to get together and build community, and Lyft, which offers 24/7 driver phone assistance and discounted education courses for drivers.

New power case studies from recent headlines:

Uber has a checkered history on the user relationship front, Sundararajan says. A few years ago, Uber had a much more positive platform culture, and the company was able to harness the collective power of its consumers to pressure the mayor of New York City into stepping back on regulations that could negatively impact the rideshare app. Since then, widespread controversy -- public lawsuits, executive missteps and some drivers and users feeling like cogs in a machine -- has negatively impacted both its platform culture and its bottom line.

Another interesting case study is Facebook, which was skilled at building its crowd but unable to translate that into the type of meaningful consumer relationships characterized by Heimans’s and Timms’s book. Facebook’s lack of connection with its users meant that when the Cambridge Analytica data-mining news broke, the company was hit with community backlash and the #DeleteFacebook movement.

"New power values prize transparency above all else," Heimans says in his TED Talk. "It's almost a religious belief in transparency, a belief that if you shine a light on something, it will be better." That’s one of the areas in which Facebook likely fell behind.

Most businesses runs into trouble eventually, but the question is: When those moments come, will consumers feel connected enough to defend them?

Related: The Power of Trying: Why You Must Take Leaps Into Unknown Territory







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