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Monday, 23 April 2018

5 Lame Excuses That Unsuccessful People Always Make

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When Martijn Aslander was 17, he was running a company that had 60 part-time employees from the back of a classroom. By the time he was 21 he had two companies, and was directing 140 people. At 27 he decided to sell his companies, and ended up bankrupt as a result of the experience.


What looked like a complete disaster actually ended up being the single best lesson Martijn could learn. He woke up the next day and everything was still there. He had his arms and legs; he had his health. And the worst had happened, which meant that nothing could go wrong anymore. From that moment, anything was possible.


He then asked himself a key question: How big is the chance you will do this again? The answer was simple: There was no chance. Big lessons had been learnt. At that moment, Martijn realised that there was no point in ever getting upset when something goes wrong. It happens. The next time you will fly.


Martijn believes that we are always looking for the next challenges. Millionaires want to be billionaires. Billionaires want to win a Nobel Prize. There is always another goal. So how do you find success and happiness? By asking how you can contribute the most to mankind. In many ways, Martijn was already a life-hacker. At 17 he’d discovered a way to make money without doing much work, simply by being smarter and spotting a niche.


At 27 he learnt that possibilities are what you make of them, and the more you share, the greater your impact, and the more you will receive.


Related: 15 Scientifically Proven Ways To Work Smarter, Not Just More


These are his rules to becoming a life-hacker, and doing more in less time, with less stress, at lower costs.


1. Don’t operate on untested assumptions


Most of the fears that people have, and particularly entrepreneurs, are based on assumptions that they haven’t tested. And most untested assumptions are simply not true. They live as ghosts and monsters in your head, but they’re not real.


We live in a very interesting time, where it’s actually risky to be safe. Safe doesn’t exist, and it never has, because you are never in charge of all the events that take place around you. Change is the only constant. For centuries we’ve operated on the notion of survival of the fittest. He who is strongest will win. This is also a faulty assumption. Success today isn’t about strength — it’s about the ability to adapt to new circumstances. Over the last ten years more circumstances than ever before have changed, and the rate is just accelerating.


You have to have an open mind; you have to learn to be flexible.


2. If you’re in the business of doing business, you will soon be out of business


How do you measure business success? Be careful that your strategy isn’t focused on possessions — fancy offices, a big building, or cars as status symbols. If you’re too focused on things, you’ll be too afraid of losing your stuff. Entrepreneurs who are focused on a higher purpose concentrate on improving themselves, their people and doing the best for their clients. They’re far less afraid of sudden changes and turmoil, because possessions aren’t as important, which makes them agile and adaptable — exactly who you want to be in a changing world.


I see it as the rise of the ‘funpreneur’. The rise of a new breed of people who are focused on doing what they love, and who aspire to a higher cause, instead of just focusing on the business side of things. It’s tough to compete with people who don’t do business models, but focus on purpose instead.


3. Give your teams the freedom to adapt


There are two types of teams — those who are flexible, have an open mind, and are willing to adapt to new conditions and environments, and those who are terrified of making mistakes and therefore seldom venture out of the established norm.


The type of team that forms the foundation of your business is up to you. Are you hiring people with flexible, open minds and giving them the freedom to make mistakes, or do you stifle innovation in your organisation?


Remember that mistakes are often the only way to learn something. If people are really dissatisfied with their own errors and performance, they will internalise the experience far more deeply. There will always be some mistakes. My advice is to create an environment where everyone learns from mistakes — their own and those that others make — and try to make mistakes that you will benefit the most from by encouraging your team to take chances. This doesn’t mean it’s okay to make mistakes on purpose, but create a safe environment and deal with mistakes in a way that shares the lessons, and instils the learnings in your business.


Related: 50 Jobs, Gigs And Side Hustles You Can Do From Home


4. Make a ‘not-to-do’ list


We’re so busy making ‘to-do’ lists that we forget to make ‘not-to-do’ lists. Remember that you’re in charge of your life, and you can go in any direction you want. Yes, there will be circumstances that influence your life, but ultimately you can change everything. There’s less financial risk than ever before in doing business. You don’t need big offices, buildings, or cars. Everything you need to make an impact is at your disposal. The only things holding us back are our assumptions.


While you are creating your to-do lists and strategies, take some time to write down what you shouldn’t be doing — what you don’t want to do, what you should avoid — the business or person you don’t want to be. Focus on what you love, and build a great life around those principles. Don’t allow yourself to live in fear.


5. Leverage the holy trinity of dynamics


I believe there are only three things you need for success: People, information and ideas. With these three things, you can set anything in motion.


An idea in itself is worthless.  It’s really nothing else but combined information; creatively connecting unconnected dots. The ability to make ideas materialise in this world however holds value, and for that you need people and information. Information is the bridge between ideas and the people who make them happen. What’s incredible is that we are living in an information society.


There are more people connected than ever before. We’re living in a network age and an information age, which means you can focus on all three, connect the dots, and unleash an unprecedented amount of ideas.


6. You don’t need a budget to innovate


The Chief Commander of the Dutch Army approached me to help him find a way to innovate that didn’t involve cutting into his budget. My question to him was, ‘Why do you need budget?’ There are 50 000 geeks in the Netherlands who dream of flying in a jet fighter or being submerged under the ocean. Simply by redeploying assets they already have, the Dutch Army can make these dreams come true.


So many organisations miss this crucial point. Money is naturally scarce, and the dynamics of money are weird. People are afraid to spend it because it’s scarce, and they’re uncertain if what they’re spending it on is a risk or not. As soon as there’s a financial risk, and you don’t know the outcome, you’re hesitant to jump in. And this ends up stalling innovation, because there’s an over-riding belief that you need money to innovate.


But what about applying other resources other than money alone? Always consider what you can do with the resources you already have. This will take financial risk out the equation, which will lead to less fear. Once fear is gone, people step in, open up and contribute. If you get rid of the risk, you enable your team. In many cases, finance is not an enabler, it’s a disabler.


Imagine if you could stop asking for money and setting your price, and instead asked your clients to pay what they believe your services are worth. You’d quickly either make more money, or realise you’re helping the wrong businesses, or not demonstrating your value clearly enough.


Entrepreneurs know this — they’re used to bootstrapping and being creative. The problem is that as we grow, we forget, and start becoming reliant on money to grow. And this stifles us.


So how do you begin to use the resources you have? Start by targeting the one percent of your clients that are able to do 100 or 1 000 fold what they are paying you in terms of money. What can you barter or trade with them? What resources can you offer each other that are actually more valuable than money? What could your clients potentially do for you that would actually save you money? Or what would they love to pay for, that you potentially aren’t offering right now?


Every single organisation has resources that they can deploy without financial loss. Start with 1% and build on it.


7. Build your social capital


Social capital builds monetary capital. It’s not the other way around, and yet so often we focus on monetary capital first. Instead, focus on achieving something that will lead to monetary capital. I give away my social capital freely. I share my books and ideas for free. It clears my mind, and I know that I can create ideas faster than you can steal them anyway. That’s how you should view ideas. Giving away social capital gives you access, and then you don’t need money — that’s the secret to success.


People are too careful with their social capital — particularly their ideas. I promise you this — the chances of becoming a millionaire with just one idea are miniscule. If that’s your strategy, it’s not only dangerous, but you’re wasting your time. If you become someone who can share ideas freely, and focus on bringing people, knowledge and ideas together instead, your chances of success have grown exponentially.


Remember, people love to share, and you want to tap into that. Look for zero plus, not zero sum.


Related: 101 Efficiency Hacks For Busy Entrepreneurs


8. Become a life-hacker


The term ‘life-hacker’ was coined in 2005 by tech journalist Danny O’Brien. He was covering a group of programmers who were very productive, and yet they weren’t stressed. They were satisfied. How did they manage to be productive and stress-free? The secret wasn’t only in what they were doing — but in how they were sharing those secrets and tools.


I personally use a few hundred tools that allow me to do a lot more in less time, and I’m happy to share the tactics that help me to work smarter. This is why I launched the lifehacking.nl website, but all the contributors on the site share the same philosophy — we freely share our insights to help others. This is a critical element to life-hacking. There is so much information out there, so many ways to access insights and information. Are you using them? Are you learning and using the tools available? There are tools that can save you hundreds of hours a year. Tap into them. We can learn so much from each other; get the best people possible in your posse and in your community.


9. Understand the dichotomies of knowledge workers


Knowledge work is something new. Traditional business systems are based on hands. You exchange time for money. But today we are working with our heads, and the reality is that you cannot work with your head for eight hours a day, particularly in artificially-constructed work hours. One third of the population work best in the evening, and yet they’re expected to arrive at the office at 8am sharp. Not only are they causing traffic jams, but they’re not working in their optimal conditions either. We need to rethink the model. We need to stop treating computers like modern typewriters. We seem to think that answering hundreds of emails is working. It’s not. We’re all just distracting each other.


Digital skills are nowhere on the strategic agenda of boards. The time and skills of your employees are the most valuable asset you have, and yet we aren’t doing anything to help our employees become life-hackers. Digital skills won’t only help your teams to work smarter and save time, but become real assets, and not just glorified typists. If you focus on digital skills, your ability to find information and ideas faster than anyone else will grow, allowing you to spread those ideas, learn faster than your competitors and entrench strategic skills in your organisation. Take these skills and invest in them heavily. It’s a true differentiator.



Create your own time


Life-hacking is all about learning from others and using tools and technology to do things smarter and faster. There are many ways to achieve this goal — you just need to be open to them. Take Pepe Marais, co-founder of Joe Public United, South Africa’s largest independent advertising agency.


Four years ago, Pepe decided to employ a driver. “This solution isn’t for everyone, and it took me a full three months to get used to the idea, but once I got over my own insecurities, it was a revelation. I have gained 32 hours a month — that’s the equivalent of one full work week — simply through using my travel time constructively.”


Related: 7 Tools To Increase Productivity And Efficiency


Learn from the Titans


learn-from-the-titans


Tim Ferriss is the master of getting more done in less time — and he’s made it his business to share these tips and lessons with others.


Read this: Tools of Titans, Tim Ferriss’s epic amalgamation of hundreds of tactics, routines and habits, collected over the course of two years from the world’s most successful business people and world-class performers, and distilled into a notebook of tips and tricks to use in your every-day life and business.


Listen to this: A summary of the book is available on Audible.com (another key tool for life-hacking and a great way to maximise your time in traffic and the gym by listening to business ‘how to’ books and top biographies).


Watch for free: Accelerated learning with Tim Ferriss is a 13-minute video available on Youtube and below. If you want to maximise your ability to learn quickly and efficiently, start here.






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How to Let Passion Lead Your Life

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Figuring out what makes you passionate is something a lot of people struggle with. But once you find it, cherish it.




1 min read






This story originally appeared on Lewis Howes




Figuring out what makes you passionate is something a lot of people struggle with. We all want to find that thing in life that we are excited to do -- the drive that makes us want to wake up early because we can’t wait to get started.

When you find the energy that your passion creates, it’s your duty to share it with everyone around you. That’s when you’ll make a real impact and people will remember you. Take care of them, and they’ll end up taking care of you one day.

To go more in depth about the importance of living your passion, I wanted to bring back an episode with Steve Cook for this week’s 5 Minute Friday.

Cook is one of the most recognizable faces in fitness today. He’s an IFBB Pro Men’s Physique Competitor and a spokesmodel for Optimum Nutrition and Bodybuilding.

Learn how you can make an impact and inspire the world (and yourself) on Episode 627.

Subscribe on iTunes, Stitcher RadioGoogle Play or TuneIn.







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Sunday, 22 April 2018

The Future of Augmented Reality (Infographic)

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This innovative technology is disrupting nearly every industry.




2 min read





Opinions expressed by Entrepreneur contributors are their own.







When you think of augmented reality, Pokémon Go might be the first thing to come to mind. But AR isn’t just for games. This innovative tech is making an impact on a number of industries.

Related: 3 Ways Augmented Reality Will Find Its Way Into Your Life 

According to recent research by Lumus Vision, while AR video games are expected to reach potential revenues of $11.6 billion by 2025, other industries are not far behind. By 2025, the AR and virtual reality space in the healthcare industry is predicted to reach $5.1 billion, engineering $4.7 billion, real estate $2.6 billion and retail $1.6 billion.

Related: The Augmented Reality Workforce is Coming -- Here's What You Need to Know

When it comes to real estate and home improvement, one of the biggest obstacles people face is not being able to visualize their new home. In 2016, 51 percent of consumers said they put off home improvements because they couldn’t imagine what the finished product would look like. AR and VR are potential solutions. With VR, people can take a virtual tour through a potential home, and with AR they can place various furniture items in a room to get a glimpse of what it'd look like.

Related: 3 Brands' Different Approaches to Augmented Reality

Retail is also an exciting industry when it comes to AR. For example, AR in retail can help people imagine various outfits on them before actually buying. Seventy-one percent of consumers say they would be more likely to shop at a store if AR were offered, and 61 percent would choose a store with AR experiences over a store without.

To learn more, check out Lumus Vision’s infographic below.







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4 Red Flags to Watch Out for on a Resume

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Here are some of the most common signs to look for when hiring new employees.




3 min read






This story originally appeared on Personal Branding Blog




As an employer, you probably receive hundreds of resumes every day, especially if you are the hiring manager of a well-known brand. However, do you know the red flags to watch out for in these resumes? Below are the most common signs to look for.

Related: 5 Reasons Why Your Employees Are Quitting

1. Job hopping

If a candidate changes jobs frequently, this should be a red flag for you. Hiring someone is an expensive process. After hiring, you need to invest in the new hire and train him or her in order to become productive. Usually, it takes around six months for a new hire to become effective in his or her job. As an employer, you can only get efficiency from a new hire after six months. However, if a person changes jobs every seven or eight months, then you should watch out for this person. Also, try to avoid these types of candidates because changing jobs frequently means lack of commitment. 

Related: Why Employer Branding Is So Important

2. Employment gaps

An employer should watch out for gaps on a candidate’s resume. These gaps may raise a red flag but they also may not be a bad sign. Sometimes employees take career breaks in order to care for their children or elders, spend more time with their families, continue studying or even travel the world. These are all reasonable gaps. As an employer, when you ask a candidate about the gap in his or her resume and get a reasonable answer, then you don’t need to worry. However, if the candidate cannot explain the gap, then this raises questions and worries.

3. Spelling and grammar mistakes

Spelling and grammar mistakes on a resume can be a huge warning sign because this shows that the candidate is not very detail-oriented. Also, a resume is one of the places where the candidate presents himself or herself and having mistakes shows that this person doesn’t care much about his or her presentation. Every job requires detail, attention and a good presentation. Therefore, an employer should really watch out for this type of a candidate.

Related: The Do's and Don'ts of Asking for a Raise

4. Lack of achievement

A good resume should show evidence of a successfully progressing career. Job responsibilities should increase over time and job descriptions should grow. Therefore, if a candidate cannot show any achievements on his or her resume or shows a decrease of job titles and responsibilities, then this should raise a red flag. Sometimes, due to unforeseen circumstances, a candidate may choose to take less responsibilities but a smart candidate knows that this raises questions. 







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The Dot Com Lunch – YouTube Live Edition

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On this episode of the Dot Com Lunch, we show off a really great, but inexpensive, video vlogging setup. We also consider doing a YouTube Live edition of the lunch. What do you think? Would you watch?



Click Here To Download John Chow’s New eBook, The Ultimate Online Profit Model!



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10 Corny but Undeniably True and Inspiring Quotes About Teamwork

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As Michael Jordan said, "Talent wins games; teamwork wins championships." He ought to know.




4 min read




A Note From The Editor



Think your company has what it takes to make our Top Company Cultures list? Apply now.


Apply now »




Opinions expressed by Entrepreneur contributors are their own.







With two games remaining, my daughter’s soccer team is in second place. They’ve won nine games and lost only one -- to the team in third place.

Although that team doesn’t not have as many star players as our side, they beat us on the admittedly widely held but elusive principle that sharing the ball leads to more goals (and better defense) than impressive dribbling or individuality. In other words, their 11 played better as a team than the three remarkable players on my daughter’s team. Granted, the third-place team probably dropped more games than we did because playing as an effective team in consecutive games is harder to do. After all, it’s easier for a few great players to show up to every game (as we have mostly done) than a reliable team.

In any case, my daughter’s “club” will square off against the first place team this weekend. I suspect they’ll lose unless they listen to Michael Jordan: “Talent wins games; teamwork wins championships.”

The same is true in business and life in general. If we want to “win championships” in both of those, we have to get others involved, pass more, risk failure, allow teammates to learn from their mistakes by letting them commit them and putting the needs of the group above our own selfish aspirations.

To that end, I encourage you, my daughter’s soccer team and everyone else interested in winning to consider and internalize my 10 favorite quotes on the importance of competing as a team. Some are a bit corny. All are true.

Related: 12 Tips for Fostering Teamwork

1. “TEAM stands for Together Everyone Achieves More.”

This quote by an unknown author codifies the idea that the whole is greater than the sum of its parts.

2. “A man may do an immense deal of good if he does not care who gets the credit.”

This quote by Father Strickland emphasizes that teamwork requires humility. You can’t have teamwork if one, some, or all team members hope for individual glory.

3. “Chains are only as strong as their weakest link.”

Another great quote from an unknown author that teaches us that encouraging, supporting, training, and sometimes replacing the most fragile contributor is the best way to refine and improve a team.

Related: For Better Teamwork, Let People Choose Whom They Work With

4. “A group becomes a team when each member is sure enough of himself to praise the skills of the others.”

According to Norman Shidle, self-confidence is also needed to create an effective team.

5. “Many of us are more capable than some of us, but none of us is as capable as all of us.”

According to Tom Wilson, not only are we smarter when we combine our collective brainpower, we’re decidedly more powerful.

6. “A snowflake is one of God’s most fragile creations, but look what they can do when they stick together!”

This keeper from an unknown author reminds us that beautiful, forceful, and even spectacular things happen when working in unison (like this).

Related: Why Teamwork Matters at Every Level

7. "Coming together is a beginning. Keeping together is progress. Working together is success."

Once uttered by Henry Ford, this idea demonstrates that coming and even staying together is not enough. To succeed, we must work together.

8. “Sticks in a bundle are unbreakable.”

One of the all-time greatest object lessons on teamwork has been recognized in many cultures, such as in this purportedly comes from a Kenyan proverb and a well known Aesop fable.

9. "It is literally true that you can succeed best and quickest by helping others to succeed."

This quote by Napoleon Hill destroys the selfish idea that “getting mine” is the best way to get ahead.

Related: 3 Ways Teamwork Doesn't Work and How to Avoid These Pitfalls

10. “Many hands make light work.”

Arguably the most classic and versatile quotes on teamwork comes from John Heywood. When we work together, not only can we do, think, perform, and win more, but we lighten the individual burden of our members. When that happens, we’re free to give back even more, and the cycle continues.







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Top 10 Reasons to Rebrand Your Business (Infographic)

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In order to grow, sometimes you've got to go back to the drawing board.




2 min read





Opinions expressed by Entrepreneur contributors are their own.







Businesses often need to rebrand, and it can be a result of many reasons, including international growth, new management, a bad reputation or an outdated image. Whatever the reason, it’s important to create a stellar brand that people will remember.

Related: The 8 Must-Follow Rules for Rebranding Your Company 

Because of internationalization, Raider changed its name to Twix. If you plan to grow internationally, it’s incredibly important to choose a brand name that’s adaptable and appealing to cultures worldwide.

Walmart, known for its low prices, is also a prime example of a major company that wanted to reposition itself in the market. However, instead of changing its name, the company simply changed its slogan from “Always low prices” to “Save money, live better.”

Related: 5 Signs It's Time to Rebrand Your Company

When Steve Jobs returned to Apple in 1997, he changed Apple’s rainbow logo to a sleek metallic one. Keeping up with trends, changing times and his vision for Apple’s future, Jobs’s rebrand worked well and aligned with the company’s brand of offering minimalistic, contemporary products.

Related: The 3 Fundamentals for a Successful Rebrand

If you’re planning to rebrand your business, it’s important to think about what will help your company grow. To learn more, check out Custom Logo Shop’s infographic below for the top 10 reasons to rebrand your business.







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All the Common Excuses for Not Delegating Boil Down to Lack of Confidence

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Leaders delegate important work when they trust their team and know their own worth.




5 min read




A Note From The Editor



Think your company has what it takes to make our Top Company Cultures list? Apply now.


Apply now »




Opinions expressed by Entrepreneur contributors are their own.







Moving from “doer” to “manager” is seldom a smooth transition. One of the most difficult components of this move lies in understanding when to stop doing and when to start managing. And yes, they are different skill sets.

When I first moved up the career ladder from individual contributor to supervisor -- now nearly 30 years ago -- my boss fed me some age-old wisdom: “Do what only you can (and should) do. Delegate everything else.” I felt a burden lifted off of my shoulders. Yet, it wasn’t as simple as he made it sound. Nearly three decades later, I still haven’t perfected the art.

Related: The 3 Tasks All Entrepreneurs Must Give Up Immediately

The truth is, even with the majority of entrepreneurs and senior-level executives I coach, delegation doesn’t come easily. Why? The points below may explain why we don’t delegate -- and reasons why those answers don’t hold up.

Your team is already too busy: Your team is working hard, right? In fact, they’re telling you they are overworked as it is. How can you pile even more work on them when they’re already swamped?

Lack of ability: You’re worried about quality. After all, you’ve been doing this for a long time. How can you expect someone else to pick it up and do it as well as you did?

Lack of engagement: This project is your passion. Others aren’t nearly engaged in it as you are. They simply won’t give it the love it deserves.

Loss of control: If you do it, you know it will get done right. If they do it, there are no guarantees. With your name on the final product, it’s your job on the line, not theirs.

It’s too slow: With your experience, you know you can get it done quicker, and this project needs speed. It’s easier, and much faster, to do it yourself.

You’re insecure: Ouch. This one hurts. Maybe, just maybe, if someone else does the job, and does it well, you aren’t as essential as you think you are.

Related: These Ingredients are Instrumental for the Growth of a Business

The good news is that if any of these thoughts cross your mind, you’re in good company. If not, congratulations -- and you probably aren’t being honest with yourself.

So, why should you delegate?

It’s not a one-person job: Going from individual contributor to manager -- and all the way up to executive -- means that you have additional scope and responsibilities. Many managers don’t understand that “peddling faster” isn’t the answer. It’s working smarter. You can’t do it alone. Managers who don’t delegate aren’t just doing their own job, they’re doing the jobs of those to whom it should be delegated.

You’re stifling their growth: In conducting employee surveys, we continually find that growth is one of the keys to creating an engaged workplace. Lack of opportunities to stretch will result in employee stagnation, disengagement and attrition. Millennials, who are overtaking boomers as the largest generation in the U.S. workforce, will leave faster for growth opportunities than for any other reason. Failure to delegate means these employees don’t have the opportunity to stretch their wings.

It’s a sign of trust: Management consulting firm DecisionWise recently compared the 360-degree feedback results for several thousand managers against the employee engagement results for that manager’s team. One of the areas that sank engagement scores the quickest was micromanagement. Employees who feel micromanaged, and who are not left to perform to the best of their abilities, feel both a lack of autonomy and a lack of trust. This, in turn, greatly stifles creativity and performance. Granting them trust through delegation goes a long way in building relationships and self-confidence.

You’re not promotable until you’re replaceable: Ok, so maybe you aren’t looking for a promotion. Or, maybe you are. Perhaps you’re a busy entrepreneur with too much on her plate. As with the growth problem, your team can’t take over your responsibilities until they learn how to do what you’re already doing. So, not delegating means you’re stuck where you are. And we already know what that does to your own level of engagement.

You may not be the best person for the job: This is a tough one. Relying solely on your own talents doesn’t take advantage of the skills and abilities for which you hired your team. Maybe, just maybe, someone on your team could do the job even better than you can. While that may bruise your ego, what is the end goal here? To get the job done, or to stroke your ego? Delegate it!

Related: 5 Productivity Truth Bombs From Millennial Powerhouses

As the old adage goes, “focus on what you do best, and delegate the rest.” Not only will your performance increase, but the performance of those around you as well.







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Where to Find Funding for a Cannabis Business

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With limited funding options, almost no loans available and countless new cannabis businesses emerging every day, where does an entrepreneur go for capital?




5 min read





Opinions expressed by Entrepreneur contributors are their own.







The following article is based on excerpts of Javier Hasse’s book Start Your Own Cannabis Business. Buy it now from Amazon | Barnes & Noble | IndieBound

Finding financing for a business is never easy. Even when small business loans are accessible, loan payments and interests can often be an unbearable burden for a startup.

Now, if finding money for a regular business is hard, getting a cannabis business funded is a lot more difficult. Despite the increasing number of financial institutions servicing the cannabis industry, credit is still very rarely available for marijuana businesses.

"Getting funding for a cannabis business presents very unique challenges because you can't just get an SBA, or small business loan, and banks are not going to lend money to you either," Super Bowl champion and cannabis entrepreneur Marvin Washington told me during an interview for my book with Entrepreneur Media, Start Your Own Cannabis Business.

"Unless you are migrating, leaving your career at Wall Street or Silicon Valley -- which a lot of people have done, and have a nest egg, you will have to go through non-traditional routes to get your financing," he noted.

So, where exactly does an entrepreneur turn to for funding? Let's explore some important topics related to getting your cannabis cash in place.

Related: 9 Business Ideas for People Looking to Cash in on the Marijuana Boom

Seed capital and Series A raises

Your first (or seed) capital round will, more likely than not, be completed with money from family and friends or personal savings prior to your market debut. Understanding that this limits your options, this is the reality of the industry nowadays, since traditional funding options for cannabis startups can be hard to come by. However, there are some financial institutions willing to chip in on seed capital rounds; we'll look into them in the next section in this article.

The second (or Series A) round will possibly attract professional, third party investors and happen some time after your launch, after you have managed to accumulate a few pilot customers or regular customers.

"A seed round is aimed at building a product, service or technology; and getting some early traction, typically in the form of beta or pilot customers," Viridian Capital Advisors President Scott Greiper explains. "This will help you establish some reference cases. Investors will want references from clients in the future."

"A Series A round is for moving into normal operations and your initial scale-up: hiring more people, broadening your product line, ramping sales and marketing efforts, coming up with more distribution agreements, maybe even some initial PR, so you can get some articles, press releases and visibility."

One final thing to notice is: while family and friends will take common stock from your company in exchange for their hard-earned money, professional investors will most often look for some kind of additional benefit.

"Early stage investors investing in startup companies typically invest in preferred stock. It's not common stock, which gets the to sit with every common shareholder; they have certain special rights like a dividend payment, interest payment ..." Greiper adds. "So, the early-stage entrepreneur should be raising his or her first tranches of capital in the form of equity and is likely to see preferred equity as the first type of professional money that is being offered."

Before going into the diverse funding alternatives available, we want to remind you to be careful with the way in which you choose to finance your company, to get comfortable with the fact that its valuation will be determined by others, and to reconcile with the idea of going to your friends and family for the first round of capital.

Related: Why Your Cannabis Business Is Failing, and How You Can Fix It

Funding alternatives

Taking into account that banks and traditional financial institutions tend to not offer loans to cannabis businesses for the time being, many cannabis entrepreneurs fall back on family members and friends for seed capital -- and this is probably the way to go at first. Nonetheless, not everyone is surrounded by affluent people willing to make risky investments. And, even among those who are, many would rather not mix their personal and professional lives.

Bellow you'll find some other common funding alternatives for the cannabis industry, which might either come in handy when raising seed capital or when looking for additional funds for your business after a friends and family round.

Not every one of them will be right for your business, though. The type of business you are trying to finance and the way you do it are intrinsically intertwined. So, here are the main types of investors pouring money into the cannabis industry:

  • Family Offices
  • Cannabis specific funds (and a couple hedge funds)
  • Angel investors
  • High net worth individuals
  • Musicians, athletes and other celebrities
  • Business accelerators and incubators
  • Industry-specific holding companies

Some of the most notable institutional investors in the cannabis industry are:

  • Ackrell Capital
  • Benchmark Capital
  • Canna Angels
  • Casa Verde Capital
  • Floris Funds
  • Founders Fund
  • Green Growth Investments
  • Greenfield Capital Partners
  • Ground Zero Ventures
  • Halley Venture Partners
  • Hamilton Investment Group
  • Hypur Ventures
  • Liquid2 Ventures
  • Mazakali
  • MedMen
  • Merida Capital Partners
  • Navy Capital
  • Phyto Partners
  • Poseidon Asset Management
  • Privateer Holdings
  • Salveo Capital
  • The ArcView Group
  • Tress Capital
  • Tuatara Capital
  • Viridian Capital Advisors

Related: How Will Businesses Handle Legalized Marijuana in the Workplace?

Learn a lot more about financing in the book Start Your Own Cannabis Business: A Step-By-Step Guide To The Marijuana Industry.

Listen to a discussion about raising capital and other challenges cannabis businesses face in Benzinga's daily trading show hosted by prop trader Dennis Dick and former floor trader Joel Elconin PreMarket Prep show from April 20. 







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Are You Leaving Hidden Profits on the Table? Here Are the 4 Areas to Examine.

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10 min read





Opinions expressed by Entrepreneur contributors are their own.







With tax day now in the rearview mirror, profits and losses are likely to be uppermost in the minds of business owners -- people who get up every day trying to make payroll. Small businesses are the powerhouse of the economy, the mitochondrial DNA of our economic body, converting effort into the energy that fuels the country.

Related: 5 Ways to Drive Leads and Double Your Profits

What's more, all of those small businesses were started by entrepreneurs making use of their skills, passions and interests, and doing something so important to them that it gets them up in the morning. Still, entrepreneurs aren't infallible: Most have areas and functions that they studiously avoid, prompting them to hit the snooze alarm on tasks they dread.

Yet avoidance behavior like this can lead to neglect and missed opportunities. Financial planning is one of them.

Over the last 20 years, I've met with hundreds of small-business owners in my line of business, offering financial planning services. And, while I’ve heard from those clients many incredible stories about how they turned their dreams into businesses, never have I heard anyone say that he or she couldn’t wait to deal with accounting, human resources, risk management and taxes.

Yet, those are exactly the tasks these people should be dealing with. It has been my experience that a review of neglected areas offers the best opportunity for increasing profitability and making improvements -- because almost every business can use a little help in identifying hidden potential.

Here are four areas where almost every business owner can find immediate improvement -- meaning real money.

1. Entity/tax planning

In the United States,more than 2.4 million small businesses are set up as a limited liability company (LLC) for the purpose of limiting personal liability and protecting the owner's personal assets in the event of business failure. The downside to an LLC, however, is that it forces the business owner into higher tax liabilities, as distributions from an LLC are taxed as ordinary income with rates as high as 37 percent, at the federal level, and  13.3 percent at the state level, for a combined federal/state tax of 50.3 percent!

Related: Profit First's Founder Reveals the No. 1 Mistake That Hurts Profits

That's the reason to look at the often-overlooked planning opportunity of electing to be taxed as a corporation. For example, most small-business owners do not know that they can elect to have their LLC taxed as a corporation and also make the S-corp election, which allows for a portion of earnings to be treated as long-term capital gains.

In 2018, long-term capital gains are being taxed according to your tax bracket, at either 0 percent, 15 percent or 20 percent. If you are paying yourself a salary and choosing to distribute capital gain income, this strategy could save you a lot in federal and state income taxes.

Working with entrepreneurs and small-business owners who are generating $300,000 in revenue, I've seen that their decision to have their LLC taxed as a corporation and make the S-corp election cuts their total tax liability by one-third. Typical savings to a business owner in that bracket are $10,000 per year, adding up to real money over the life of a business.

Regardless of whether you have a pass-through entity such as an LLC or a corporation, it is important to understand that your entity structure has tax-planning opportunities, and it is always prudent to seek the advice of a tax lawyer or accountant on the best way to pay the lowest legal tax.

2. Accounting/vendor management

Another good opportunity for finding money within a small business is to examine how much you spend by vendor. A good place to start is to list your expenses by vendor from highest to lowest.

Think about each vendor, what he or she does for you, how satisfied you are with the service and whether there are other options available in the market for a lower cost. My experience is that most entrepreneurs are more focused on getting customers and on selling their products and services, and less focused on scrutinizing expenses and vendor relationships.

Entrepreneurs can often find money and additional profits by simply putting out for bid line items such as commercial loans, cell phone contracts and insurance premiums.

During a recent review for a client in the employee-leasing business, we discovered that this company was paying an annualized rate of 14 percent to finance its payroll of roughly $1.2 million per month. Since the client was showing a profit on its P&L statement, we were able to find another lender that would provide similar financing, but at a rate of 10 percent -- which will save our client an estimated $48,000 per year. Again, real money.

3. Risk management

One area where entrepreneurs can often be penny-wise and pound-foolish is in risk management and insurance. Entrepreneurs typically only purchase the insurance coverage(s) that's required by law, such as workers compensation insurance or general liability insurance, because it is required pursuant to a contract.

Purchasing only basic coverage(s), however, can expose the entrepreneur to gaps in coverage at the time of a claim. Uncovered losses are typically paid out of pocket by the business owner. If the cash on hand is insufficient to satisfy a claimant, the gap can result in bankruptcy and business failure.

During a recent review of a luxury spa client’s risk and insurance programs, we found that the insurance broker had not reviewed the current experience modifier, which reflects claims experience during the past three years. Our client had been claim-free for the previous three years, and this dramatically lowered the required premium for workers compensation insurance by more than $11,500 per year.

Next, during our risk management review, we discovered that the client was looking to raise capital to expand his business. We also noticed that the client did not have employment practices liability (EPLI) coverage, which protects against the major drivers of litigation in the workplace.

We were able to use the savings to purchase directors and officers liability and employment practices liability coverage to protect the business and business owner from frivolous employee and investor-related lawsuits.

In the years following the placement of the additional coverages, the client had several employment-related lawsuits filed against the company, all of which proved baseless. The legal defense costs were fully covered under the new policies.

Higher-end insurers like Chubb, CNA, Travelers and Philadelphia have insurance programs tailored for specific types of businesses and the unique risks that they face. The best companies will have risk-management expertise and internal resources that can help identify potential coverage gaps and key exposures.

That move will make it possible to better plan for the moment when bad things happen. These companies are also very knowledgeable about claim trends and the issues that are driving litigation within the industry you are in. And this information can help you train your employees for the kinds of things that could put your business at risk.

4. Human resource planning

Finally, human resource planning is an area where an entrepreneur can often find areas for improvement and financial impact. As businesses evolve over time, it's important to examine whether your human resources and staffing model is optimized in support of your current and future needs.

Are the dollars you're spending on wages producing the desired results in sales revenue and customer satisfaction? Are there opportunities to outsource services that might be available at a lower cost or in a shared services model?

One trend that has a lot of value for small, closely held businesses is the hiring of an outside business management firm to cover the accounting, bill/pay, human resource management and risk-management functions tneeded to run a successful small business.

As the following chart shows, adding accounting personnel, human resources and financial expertise to your payroll can be very expensive. Moreover, high-quality business talent will require healthcare and retirement benefits, which can be very expensive for a small business. Outsourcing some or all of these functions to a business-management firm can save tens of thousand of dollars annually.

An analysis of the data suggests that entrepreneurs and small businesses with revenue under $9 million (the break-even point) should take a hard look at outsourcing these key business functions.

2018 Compensation Statistics for Key Business Functions

Professional Category
Certified public accountant (CPA)
Chief financial officer
Human resources executive
Accounts receivable manager
Accounts payable manager
Risk manager

Total(s):


Median Income
$63,243
$127,646
$64,059
$54,119
$56,541
$83,509

$449,117


Total Compensation
$44,741 - $109,913
$69,908 - $255,060
$40,790 - $94,097
$32,431 - $75,987
$34,545 - $81,888
$53,878 - $139,886

$276,293-$756,831

 

Business Management Expense (the standard fee is 5 percent of revenue) applied against various revenue levels

Revenue
$1M-5M in annual revenue
$5M-10M in annual revenue
$10M-15M in annual revenue

Median Expense
$125,000
$375,000
$625,000

Expense Range
$50,000-$250,000
$250,000-$500,000
$500,000-$750,000


Financial technology ,along with the rise of hybrid professional employer organizations (PEO), allows for dramatic cost reductions in basic business functions. For example, City National Bank offers an incredibly robust integrated banking and accounting platform through Datafaction, which automatically populates an accounting entry with each check submitted for payment, and with each swipe of a credit or debit card.

The efficiency of this system allows for an accounting manager to support multiple business clients for a lower shared cost.

Actors, athletes and entertainers for years have hired business managers to deal with financial matters. Physicians have opted to outsource back office, administrative functions and insurance processing because it is cheaper to hire a shared services firm that can handle these functions more cost-efficiently. Entrepreneurs can similarly benefit for the same reasons.

Conclusion

According to Deloitte’s 2016 Global Outsourcing survey, approximately 3 in 10 of companies surveyed that used outsourcing wanted access to intellectual capital and saw outsourcing as critical to meeting business needs and enhancing service quality. Almost 6 in 10 saw the benefits beyond a simple cost-cutting tool; businesses saw outsourcing as a tool that enables focus on the core business itself.

Rather than focus on the thing that distracts, entrepreneurs should focus on the thing that makes them unique. My experience working with entrepreneurs is that they wear too many hats within their company. They are often distracted as a result and by things they are not great at accomplishing. And anything that distracts from the thing that makes money is a liability.

Related: A Simple Guide to Understanding Your Profit and Loss Statement

My advice for harried entrepreneurs is to view themselves as rock stars, talented at the thing that got them into business; that should be their focus. The most successful business owners keep building on their core strengths, and successfully delegate the rest. Fortunately, there is an embarrassment of riches when it comes to effective service providers today, who stand ready to take dreaded items off a business owner’s endless to-do list, letting the owner focus on what really matters: profits.







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What Tariffs Mean for Small Businesses

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Tariffs are a big topic in the news lately.




5 min read






This story originally appeared on Due




Tariffs are a big topic in the news lately, as the United States, China and other countries have been dragged into a debate on trade deficits, intellectual property theft and other trade-related disagreements. Whatever you think of tariffs being right or wrong, they are rearing their head in the headlines, and both the United States and China have enacted new punitive tariffs against each other. The impact of tariffs goes far beyond newspapers and has real-world effects on businesses of all sizes. Read on to learn how tariffs may impact your small business.

What are tariffs?

Simply put, tariffs are taxes on foreign imports. But there is a lot more to know about tariffs than that. Tariffs are typically very specific taxes on very specific imports and are often targeted to hurt imports or exports from specific countries and specific industries. For example, at the start of his term, President Trump enacted a new 20 percent tariff on lumber imports that specifically targets Canadian exporters to the United States. This means all lumber imported into the U.S. from Canada now costs 20 percent more even though Canada's lumber industry didn't do anything to raise prices.

Proponents would argue that this makes American lumber more competitive. If Canadian and American producers all have the same cost of production and transportation, this gives Americans a 20 percent incentive to choose American lumber over Canadian, thus giving American lumber a boost in competitiveness and a home-field advantage.

But on the flip side, many economists argue that tariffs would just lead to artificial price inflation. Rather than giving American companies an edge, they might just raise prices by 15 percent or so, making their products just a little cheaper than Canadian lumber while increasing their own profits. This ultimately leads to higher prices for Americans when going to the hardware store, building homes and doing anything else that requires lumber.

Downstream impacts of tariffs on small business

If you are in any industry that buys goods that at some point cross an international border, you are impacted by trade laws and tariffs. Free trade proponents argue that there should be no tariffs or trade restrictions, as that would open up consumers and business purchasers of goods to the lowest possible priced goods available. If one country makes the cheapest lumber (or anything else), we should be able to buy it at the cheapest price possible. This gives countries like China, Mexico and others an unfair advantage, in the eyes of some, as they can pay far less for labor and other production costs. They may also have lower environmental, safety and other standards, which come back to harm both workers and the environment we all share.

The biggest problem with tariffs is they only make things more expensive. If your small business is in the construction field, you can see how higher lumber costs might raise your costs or the cost to complete a project overall. Other products with recently added tariffs include steel, aluminum and solar panels.

For small businesses, this will likely mean higher costs for all. No matter what you do, odds are you use something that includes lumber, steel, aluminum or electricity. Even if you run a small freelance business at home on a laptop, your laptop and other computer parts in the future might cost more as they use steel or aluminum components. The bigger the business, the more it will feel the impact of higher costs due to tariffs.

Industries most impacted by tariffs

There is some good and bad of tariffs depending on the industry your small business is a part of. For producers of newly tariffed goods and products, the new tariffs will allow those businesses to be more competitive, charge higher prices and ultimately earn a higher profit. Most notably this includes lumber, steel and aluminum producers.

But China and other countries won't see us levying new taxes against their economies sitting down. China recently hit back with new tariffs on pork, wine, stainless steel pipes and more than 100 more products. So while a few industries in the U.S. got a small boost from Trump's new tariffs, more industries are feeling the pain of higher prices selling to China. If pork, wine, and other products lose sales to China, they could ultimately go out of business or be forced to charge higher prices when selling to businesses and consumers back here in the U.S.

If your small business is involved in an industry that has a new tariff put in place, you will see an impact. But in the long-run, we all lose out as a whole from any new tariffs.

The fallout of tariffs for everyone else

Tariffs ultimately act as a good thing for a small group of industries and harm everyone else. They hurt our trading partners, individual consumers and trickle down to higher prices for most small businesses reliant on any tariffed products. This is why tariffs are a bad thing, and we as consumers should utilize our voices to stop new ones from driving up our costs the next time we head to the store.

(By Eric Rosenberg)







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FastEyePages Review - High Paying Affiliate Programs

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FastEyePages is a high quality business-in-a-box training program that you can sell under your own name with private label rights meaning that you keep 100% of the profits..

FastEyePages Review

  • Product Release Date: April 20, 2018
  • Product Creator: Daniel Adetunji
  • Product Category: Website Builder
  • Reviewed By: Bill Burniece
  • Review Grade: A
  • Where To Get It: Here
  • Bonus Package: Included
  • Cloud-Based: Yes
  • Guarantee: 100% Money Back For 30 Days Unconditionally

What’s FastEye Pages?

FastEye Pages is a new landing page and website builder with pre-written high converting sales copy.

Here’s Why I Love This Product:

FastEye is quickly becoming the Go-To tool for every marketer out there. FastEye is a fully cloud based software that lets you create stunning Landing Pages and websites in minutes and it also saves you from running after Copywriters to get the content written.

It allows you to simply swipe and use proven-to-convert headlines, sub-headlines, openings, closings, P.S’s etc. all written by a team of 7 figure copywriters.

What’s Included?

  • 20 Done-For-You FastEye Landing Page Templates: It took a team of 5 designers and 3 copywriter around 2 weeks to create these 20 stunning landing page templates.
  • Choose From Pre-Written And Proven To Convert Content: With FastEye we take care of not just your designing needs, but also that of your copy.
  • Create Unlimited Sales Pages: We want you to sell more. We want you to earn more and we want you to grow more.
    We want to be a part of your success story and we figured we can’t do that by limiting – how much you can do.
  • Create Unlimited Landing Pages: To run a successful campaign you need to create not just a sales page. You need a Squeeze Page, Sales Page, Upgrade Pages and Thank You Page at least.
  • Unlimited Access To FastEye Pages: We are serious about this “Unlimited” clause. Once you get FastEye it’s accessible to you permanently.
  • 100% Cloud-Based: All you need is an internet connection and a laptop to access your pages and websites from anywhere in the world at any time.
  • 1 million+ High-Resolution Images: I insisted on including such a library while we built this tool. I came close to being sued for having an image on my sales page that was copyrighted.
  • 100+ Icons: It doesn’t matter how important or exciting the information that you’re sharing is…if you fail to hook your visitors.
  • Free Hosting: Don’t worry about hosting your landing pages or websites. FastEye hosts your landing pages for you and makes it easy for you to get up and running on your own domain in a matter of minutes.
  • Exceptional Customer Support: We take after sales support very seriously. If you ever have a problem using FastEye, all you need to do is hit the Chat bot on your dashboard and our support agent will be there to help you with anything (well as long as it’s related to Fasteye. I mean, you can try discussing your personal problems as well – but I doubt these guys are good at that – trust me…I tired :))
  • Buy It For A One-Time Fee: This is something I had to literally fight for…
  • Launch-Ready In Mminutes: One of the most unique features of FastEye is that it comes with a wide selection of ready to use designs. Regardless of your industry or niche, the structure or feel you want your website to have…there is a ready to use template that is exactly what you need. If you can point-n-click the computer mouse…you’re good to go.
  • Easy Drag and Drop Functionability: You want an image somewhere, just drag the image and drop it where you want it to appear. You want a text box, a custom menu or a slider…all you need to do is just drag the item, drop it where you want it to appear. That’s it! You have your awesome website or page ready to go live!
  • Mobile Responsive: With Fasteyepages you don’t need to worry about how your site would look on a tablet, mobile device, or any other device with smaller screens. The templates were developed keeping in mind that customers are using more and more portable devices. These templates are completely mobile responsive and work perfectly on devices of varying screen sizes without fear of losing content or distortion.
  • DIY Designer: With lots of customizable settings, including fonts, colors and page layouts, every FASTEYE design can be made to look unique with just a few clicks. Laying out an entire page is just matter of few clicks.
  • Advanced Site Analytics: FastEye comes with advanced Google Analytics Integration. Find out how many page views you have, where visitors come from, and how well you rank with competitors.
  • Hardware Accelerated Parallax: Easily add new dimension to your site with the cool parallax effect. It’s sure to impress your guests.
  • Easy Integrations: FastEye is built to seamlessly integrate numerous APIs and tools such as Google Maps API enabled maps, Custom YouTube and Vimeo embed modals, MailChimp Integration, modals to support forms, iframes or any HTML.

FastEyePages Is Live. Click Here To Check It Out


Disclosure: The operator of this website is a 3rd party marketer with a material connection to product/service providers appearing on this site in that we are compensated for sales made through our affiliate links.

If you have any questions please contact me (Bill) at beachroulette@gmail.com.



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Practice This Important Skill to Get Your Way Every Day

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Listening is a powerful tool to deepen trust and understanding.




8 min read




A Note From The Editor



Think your company has what it takes to make our Top Company Cultures list? Apply now.


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Opinions expressed by Entrepreneur contributors are their own.







"Nobody learned anything by hearing themselves speak." -- Richard Branson

Did you know that an anagram for the word listen is silent? As an entrepreneur, have you ever found yourself frustrated trying to speak to someone who would not be silent and simply listen?

Related: Effective Communication Is Something You Learn, Not Something You're Born With

Whether you were immersed in a conversation with a client, at a company meeting or stuck in the negotiation of a business deal, it can be annoying when someone interrupts the flow of things, stealing away from your experience. It can be especially difficult when you have an urgent need to communicate something important or accomplish an objective and you need to get your way.

However, did it also occur to you that perhaps you'd been the first to interrupt, thus neglecting to listen? Oftentimes, though largely unintentional, we force our opinions upon others, simply due to a lack of awareness.

The act of listening seems like it should be natural. However, in the business world, it's one that needs to consciously be developed to manifest greater success. The act of listening varies from situation to situation, but it can be used as a powerful weapon to overcome adversity and ignorance.

Related: The Simple Thing Science Says You Can Do to Seem More Likable

So, ask yourself: Are you merely hearing, or are you actively listening? If your honest answer isn't a favorable one, consider these five steps as reliable ways to not only connect on a deeper level with people through listening but to get your way as well:

1. Repeat or rephrase to demonstrate understanding.

First, listen intently to what was just said. Then, either repeat or rephrase it so you know you've understood. Even better, your listener will know you did what mattered most -- took the time to actually listen. This forces you to stop thinking about a response. Later on, if your audience makes a strong claim about what was said, you're able to reference what you did to ensure mutual understanding.

Of course, when dealing with difficult individuals, there's not much that can be done. As is the case with every rule, there's an exception, and for this one, this is it. To avoid this kind of situation, should a critical conversation be on the horizon, consider taking notes. When it comes to listening, it's one of the most sincere forms of flattery.

Also, be sure to pay close attention to listen to what is not being said, too. Like subtle body movements and other nonverbal cues that will alert you to critical information that will help you to get your way. Pay attention to them. They will help you to get a better feel for where a discussion is headed and how you can be more persuasive.

In his international bestseller What Every BODY Is Saying, former FBI counterintelligence officer Joe Navarro states, "Just as careful listening is crucial to understanding our verbal pronouncements, so careful observation is vital to comprehending our body language."

Related: Are People Actually Listening to and Understanding What You Say? Here Are 5 Signs to Watch.

2. Make your listener feel important.

This isn't easy, but if you can completely focus your attention and energy when listening, people will like you more. As stated above, the people you engage with want not only to be recognized but to be understood. When you don't actively listen, it's all but impossible for a favorable impression to be made.

Make your listener feel like they're the only person in the room. Give them your undivided attention. Resist the urge to look around or check your phone. In today's day and age, with so many competing distractions, this kind of focus is rare. You'll be remembered and respected as someone who does things differently.

Former President Bill Clinton was famous for his ability to do this. No matter how long the engagement, treating people properly can curry favor for a future need. It's no secret that people typically will help those they like, right? Needless to say, it's much easier to get your way when you're liked, and this is a great way to increase the likelihood of that happening.

Related: Want to Learn How to Be a Better Communicator? Learn How to Listen.

3. Resist the urge to always be talking.

In any business-related conversation, you'd prefer to be in the "driver's seat," right? Believe it or not, during a negotiation, the person who speaks the least tends to be perceived as the one in control. Unfortunately, most entrepreneurs believe the opposite -- if they're busy talking, they're in control. The truth of the matter, however, is that he or she who's loudest frequently comes off as aggressive, egotistical or even desperate.

By listening, you learn. As you learn, you gain knowledge and wisdom. As you grow wiser, you'll gain influence and become more charismatic. If you develop your listening skills and become an exceptional listener, you'll be amazed at how attentive people will be when you finally do speak your mind. Now that you have their attention, you can share everything you've learned from your conversation and you'll know exactly what to say to get your way.

4. Be present in the moment and listen to your intuition.

Imagine for a brief moment that you're in a conference room at a large networking event. The majority of your peers can't wait to "vomit' all over you with mind-numbing information about what they do, how they offer it and why you stand to benefit.

Sound familiar? It's a familiar scene for relationship-driven entrepreneurs.

Yet, what's funny about all this is that it really takes only one introduction to the right person for your business to take a quantum leap forward. So, rather than trying to meet everyone, focus on how you feel around those in attendance before introducing yourself.

Are you ready to learn the secret of being a great listener? Simply pause for a moment and take a deep breath.

Related: How to Know If You're a Bad Listener (And How to Fix It)

When you breathe deeply and in a controlled manner, you're forced to focus on the present moment. This allows you to sharpen your self-awareness as you observe your surroundings with clearer and broader vision. In this deeper, more intuitive-driven stage of listening, you're free to release tension and doubt, helping prepare you for difficult questions, rejections or even objections. When not placed under pressure, you're able to listen with your entire self: the body, the mind and the heart.

Bringing consciousness to your breathing develops intuition. With intuition on your side, you're prepared to listen and (and learn) through the lens of your highest logic. The result? Others feel content and confident. Even better, you're in a position to truly connect, as opposed to correct. All this from taking a much-needed breath or two before talking.

5. Invest in building "relationship equity."

Have you heard of the term "relationship equity"? It's become very popular recently. Truth be told, there's a reason for it -- every time you demonstrate the ability to listen, you deposit "relationship credit" into your audience's account.

Then, when it's your turn to speak, the chances of the favor being returned with deliberate listening are increased. If not, gently remind the other person of the fact that you gave her the stage to speak her mind first and you'd simply like the same respect and courtesy now.

By listening first, you'll influence others to reciprocate and return the favor. Reciprocity is a powerful subconscious tool to creating influence according to behavioral scientist, Robert Cialdini, in his latest bestselling book, Pre-Suasion -- A Revolutionary Way to Influence and Persuade. As an entrepreneur, you can use reciprocity to your advantage through listening.

Related: 15 Ways to Lead With Effective Communication

People not only need to be heard, but they deserve it, too.

Both inside and outside of the working world, at the core of each one of us, lies a need to be understood and accepted. Active listening is a simple method that supports emotional intelligence. It not only makes others feel special but also demonstrates your ability to focus.

With this new focus, we can now effectively shift our attitudes from those of want and neediness to those of gratitude and even compassion. Actively listening summons feelings of security and stability in others. This is important, as it is actually an evolved form of recognition. 

Even in business, listening is one of the best gifts that can be given. Listening magnifies your perceived value and validates your power of authority as a leader and an expert in your field. Intentional listening unlocks greater self-awareness, which is a state of consciousness that leads to joy and fulfillment. In this state, you have a much better chance to influence conversations and get your way by listening, as long as you have the best intentions in your heart and that it is for the highest good.







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The Flying Purple Nurburgring Ring Eater Meets The Weasel

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On this episode of the Dot Com Lifestyle Vlog, Sally and I check out the new Porsche GT3 RS that recently ran a 6:56.4 time at the Nurburgring Ring. That’s quicker than Porsche’s $1 million 918 hypercar! We also came face to face with a weasel and a dog that looks like a cat! Sally said it’s a cat, but the owner insist it’s a dog. What do you think?



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Engage and Inspire Your Team by Talking to Them Outside of Formal Settings

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There are a number of ways senior leadership can connect and engage with employees beyond the normal flow of executive communications.




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Every CEO needs an executive communications strategy to align and motivate employees around the vision, mission and goals of the organization. Large organizations have corporate communications specialists who can help develop that strategy. Smaller organizations may not have the same resources, but communicating to a smaller workforce in one location nonetheless requires a thoughtful approach and just as much tactful skill.

Related: 14 Proven Ways to Improve Your Communication Skills

As a leader, you will spend a lot of time developing the messages you want to deliver to your employees, customers, partners and investors. And, while a lot of time is spent on the messages to be communicated, you often forget that how you communicate is just as important. This is especially true when communicating internally to employees.

Your employees are the backbone of your organization, and keeping them well-informed and motivated is crucial to a company's success. As part of your executive communications strategy, you will develop a cadence of "all employee" communications. Perhaps it's a weekly email or monthly round up of key initiatives. There will be a parade of internal emails about new product launches, employee engagement survey results, quarterly performance results and the like. There will also be in-person opportunities to speak with employees at staff meetings and town halls. These are necessary and important opportunities for the C-suite to directly communicate with employees about the state of affairs within the overall organization.

But, if you simply spend all of your time trying to deliver the right message to the right audience at the right time, you may be missing out on the informal, more personal opportunities to engage and inspire your employees to action. Here are six ways to take a more personal approach to communicating with your employees.

1. Chat over coffee.

The conversations that once took place around the water cooler now take place around the Keurig. Want some one-on-one time with your employees? Skip the stop at the coffee shop in the morning and make a cup of coffee in the office. Before the stress of the day makes its way to everyone's desks, you'd be surprised how many meaningful conversations can be had over that first cup of medium-dark roast coffee. A quick conversation there could quickly turn into a meaningful discussion in the break room.

Related: Do Us All a Favor and Stop Saying These Words Around the Office

2. Walk the walk in the hallways.

We all have our routines. Each day, we enter the office through the same door and walk down the same hallway to our desk. Try charting a new path and take the long way to your office. It will give you a chance to bump into employees you don't typically see every day. Take it a step further beyond the simple, "Hi, how are you?" Be the conversation starter and ask them about projects they're working on.

3. Host a huddle.

Let's say the conversation you were just having in the hallway with an employee involves a few other members of the team. Assemble that team for an impromptu huddle to discuss the project. It may give you a chance to learn more about the challenges they're facing and provide some insight and advice.

4. Grab lunch at the local hot spot.

Employees typically have a few favorite spots they tend to hit for lunch each day. You should join your employees when they do lunch at these spots from time to time. It will give you a chance to strike up a conversation in a casual setting. In a low-pressure environment outside of the office, you'll have a chance to build a rapport and employees may be more likely to share feedback they wouldn't normally bring up at an all employee meeting.

Related: 12 Most Common Writing Mistakes You Want to Avoid at All Costs

5. Target influencers.

Targeting influencers is part of every smart marketing strategy. So, why not take this same approach when thinking about your employees? While you should make the time to get to know as many employees as possible, a good place to start may be by identifying those who are managing large teams or actively participating in employee networks. Make an effort to connect with these employees on a regular basis. These influencers are important partners for you in disseminating the messages you want to get out.

6. Share something.

Maybe you've discovered a new business podcast that you particularly like or a new research study on your industry. Sharing work-appropriate personal anecdotes and interests is a simple way to lay common ground between yourself and your employees. It's also an opportunity to share your insights, align around objectives and inspire those you work with to do the same.

As a leader -- especially a CEO -- you're pressed for time in ways most people can't imagine. Someone always needs to speak with you about a business-critical matter that needs your immediate attention yesterday. Your schedule is often double- and triple-booked. It's for this reason that you should take advantage of the moments in between calls and meetings to get to know your employees. Leverage this valuable time to remind them that you're a leader who is accessible and approachable. While your message is important, actions always speak louder than words.

Related Video: How to Communicate to Employees as Your Company Scales







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