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Monday, 7 May 2018

Why Startups Focused on Solving Social Problems Are Attracting Investors

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Companies genuinely seeking to do good are seen as a sound bet for long-term profitability.

May 5, 2018

6 min read

Opinions expressed by Entrepreneur contributors are their own.

Blackrock put the business world on notice when Chairman and CEO Larry Fink proclaimed, “To prosper over time, every company must not only deliver financial performance, but also show how it makes a positive contribution to society.” People called it a watershed moment on Wall Street. With $6 trillion in assets, Blackrock has the clout to make chief executives listen – and change ideas about what ‘good business’ means. Now, in order to drive significant social impact, they need to lead by example. The world is watching.

First, though, it is important to acknowledge that the concept of businesses "doing good" is open to interpretation. The idea is nebulous. It can be applied to almost anything, and often is in the business world. Startups looking for funding, and especially those pressed for resources, may try to wrap themselves in social impact language to appeal to both investors and customers without living up to their promise.

Such inconsistency between words and actions dilutes the idea that business can be a force for good instead of greed. Making public commitments to social good without action to back them up sets a dangerous precedent. Failing to follow-through diminishes credibility and significantly increases the risk of customer mistrust.

Genuine social impact companies bake doing good into everything they do. Successful social impact ventures balance for-profit work with community-oriented resources. They often have a dedicated executive or team focused on finding connections between core business and social enterprise opportunities. If social impact intrinsically appeals to your company, be sure your planned activity backs up your stated commitment to social good. Here’s where to start:

Work with institutions and platforms that help verify your company’s social impact.

Finding investors who value social impact is crucial for companies looking to do good. Toronto-based Social Venture Connection (SVX), an initiative of the MaRS Centre for Impact Investing, works with companies operating across sectors from green technologies to children’s education to raise funds from investors. The organization screens companies for their social impact before letting them on the platform. SVX recently partnered with the Toronto Stock Exchange to completely democratize investment opportunities in socially-minded ventures to individuals throughout Canada. Sorenson Impact also has lots of resources that can help entrepreneurs navigate the path between business success and doing good. Ultimately, companies should look to work with organizations that have verifiable social impact success and share a commitment to the values underpinning social impact-focused work.

Examine your supply chain.

Socially-minded companies think about their entire footprint, not just their product. Companies of all sizes from startups to Unilever that meet high environment, social and governance (ESG) standards can be classified as B Corps, akin to what a Fair Trade certification means to coffee producers. They look at where their product is built, where the raw materials come from and how it is transported.

For instance, Lucky Iron Fish, a social impact venture that makes fish-shaped ingots that provide essential dietary iron, scoured India and Ontario to find two production companies that met exacting standards for environmental responsibility, workers’ rights and sustainability. One step further, Ulula’s sole focus is helping companies with ethical sourcing, ensuring that far flung factories treat workers right and don’t destroy the environment. Responsible companies make an effort every step of the way to do as little harm as possible and partner with organizations committed to the same values.

Look for like-minded investors.

If you’re seeking a "double bottom line" from your business, then look for investment products that support your impact vision and your business’ financial growth and sustainability. That means profits and purpose. The MaRS Catalyst Fund seeks out scalable impact businesses that address some of the world’s biggest challenges in energy, healthcare and education. In addition, the Fund helps its portfolio achieve best in class sustainability through its GIIRS rating and the B Corp survey. These provide structure for companies and organizations, like The ImPact, to set goals for their environmental, social and governance practices while building their organization.

Chamath Palihapitiya, a Canadian venture capitalist who launched Social Capital, is making waves in the social impact world. Bridges Fund Management, a UK firm established by private equity veteran Roger Cohen, built on its initial success overseas and recently brought its unique business to New York. The management fund, which is 30 percent owned by its philanthropic foundation, donates 10 percent of profits from its investment vehicles to fund projects that fall outside the scope of usual investment activity.

High-octane VCs who want growth at any cost are now at odds with entrepreneurs who are seeking like-minded impact value-based investors to support them through their growth phase. Entrepreneurs today are building companies that solve problems that affect their families, their health and the planet. These entrepreneurs are of a different mindset than those who prioritize narrow short-term or profit-motivated goals over long-term, sustainable outcomes. This difference could create friction on the board between investors who prioritize gains and those who favor social good. If funds like Blackrock truly commit to evaluating societal impact alongside financial returns, the precedent could have far-reaching influence on capital availability for companies mixing profit with purpose.

Social impact takes a village.

Ultimately, everyone at a company has a role to play in realizing the company’s social impact objectives. At the same time, people leading these efforts should take a measured approach that allows their companies to optimize impact on selected issues so they deliver outcomes that actually help society. Building corporate social impact initiatives around tested local infrastructure, in connection with compatible organizations with established public trust, is the key to success.

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As Retail Reconfigures Into Click and Mortar, a New Kind of Employee Is Born

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The hybrid of physical stores and online brands requires staff expert at both face-to-face selling and sophisticated technology.

May 5, 2018

5 min read

Opinions expressed by Entrepreneur contributors are their own.

Many people were surprised in the last year to witness Amazon opening physical bookstores. In one way, it made perfect sense: Amazon is the largest seller of books in the United States. But in another way, it underlined a new trend followed by companies like Warby Parker: a pivot to the so-called “click and mortar” business. In this format, rather than relying only on a traditional bricks-and-mortar business, or on a digital-only presence, companies seek a blended strategy that creates experiences for customers that previously were simply not possible.

IKEA has had strong sales both in-store and online for some time now, but continues to lean into click and mortar strategies, including a studio in one of their stores in Poland which can be reserved and used for free. IKEA had long enjoyed confidence from customers regarding furniture and furnishings, but not so much so regarding their appliances. This “try before you buy” possibility not only engendered goodwill (most Warsaw residents didn’t have an apartment large enough to host 16 friends and were overjoyed to have an opportunity to “host” friends free of charge) but also led to increased sales (over 20 percent) at that location.

Who you are going to want.

These types of businesses are creating experiences that customers haven’t seen before. As such they are going to require a different type of employee that will be above and beyond the standard retail employee of old. Here are four traits to watch for in the best new hires of the click and mortar era.

Savvy with technology.

Amazon’s new bookstores feature their voice-activated Echo products, as well as purchasing using their smartphone app. Gone are the days when retail employees could plead technological ignorance. Customers will expect staff to not only know technology but to have at least mid-level competence in assisting with technology.

Whether an app is acting up or something isn’t scanning, click and mortar staff will be expected to help a customer with their technology in an active and effective way. Failing to do so could lead not just to a short-term loss, like a failed sale, but a long-term one: damage to the brand.

Oriented toward selling.

Brands will want to leverage the “showrooming” of having a physical location into actual sales, and to encourage customers to complete the sale in the store, even if that means the customer will take delivery of it at a future date. Customers might receive push notifications to let them know they can get a special discount if they complete a sale before leaving the store.

Sales-oriented employees might be armed with special discount codes that they can use to help encourage customers to buy. By using a flash form of urgency, staff can truly drive sales by giving a human touch to what would normally have been just a pop-up ad.

Focused on social events.

The Apple Store model has been flatteringly imitated by both Microsoft and Samsung. Yet, neither brand has managed to capture the energy and attention so effortlessly created by the minimalist architecture and design of an Apple Store.

Apple has been doing for years what other brands are only recently catching up to: in-store events featuring opportunities not available anywhere else. Whether it was a short class in how to edit photos on a Mac or a seminar of special tips and tricks for your iPhone, Apple led the way in making people feel comfortable with their technology and making their stores a “third place” -- a place they felt at home, rather than a “retail store.”

Creative and competent with social media.

Not everyone has the budget of an Apple or an Amazon, but most businesses will still have to play by the rules and standards set by these giants. Therefore, in the absence of marketing or PR teams, it will be on employees to come up with interesting ways to leverage technology and social media to bring customers into stores, or once those customers are there, to interact with them in a fun and unique way.

This could be through Snapchat filters, interesting Instagram stories, instructional YouTube videos, or engaging Twitter threads. By giving employees who have strong social media awareness creative license with the brand experience -- within reasonable boundaries -- customers will find even more reasons to interact with the brand digitally and come into retail stores, and both interactions will inevitably lead to more sales.

The recent bankruptcy of Toys R Us is an ominous reminder to retailers who have not yet decided to add clicks to their bricks. Whenever possible, it’s best to engage customers in many different ways, thereby giving them many possible ways to purchase. The blended strategy of clicks and mortar is a template with many variations, and the best hires will use that to the advantage of your brand and your customers.

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FTC and FDA Issue Vape Warning Letters

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As part of ongoing efforts to protect youth from the dangers of nicotine and tobacco products, the Federal Trade Commission and the U.S. Food and Drug Administration recently announced that it has jointly issued 13 warning letters to manufacturers, distributors, and retailers for selling e-liquids used in e-cigarettes with labeling and/or advertising that resemble kid-friendly food products, such as juice boxes, candies, or cookies, some of them with cartoon-like imagery.

“Protecting young children from unwarranted health and safety risks is one of our highest priorities,” said Acting FTC Chairman Maureen K. Ohlhausen. “Nicotine is highly toxic, and these letters make clear that marketing methods that put kids at risk of nicotine poisoning are unacceptable.”

“No child should be using any tobacco product, and no tobacco products should be marketed in a way that endangers kids – especially by using imagery that misleads them into thinking the products are things they’d eat or drink. Looking at these side-to-side comparisons is alarming. It is easy to see how a child could confuse these e-liquid products for something they believe they’ve consumed before – like a juice box. These are preventable accidents that have the potential to result in serious harm or even death. Companies selling these products have a responsibility to ensure they aren’t putting children in harm’s way or enticing youth use, and we’ll continue to take action against those who sell tobacco products to youth and market products in this egregious fashion,” said FDA Commissioner Scott Gottlieb, M.D.

“While we continue to encourage the development of potentially less harmful forms of nicotine delivery for currently addicted adult smokers, we will not allow that work to come at the expense of our children. The FDA remains committed to important efforts to restrict youth access, limit youth appeal and reduce toxic exposure to youth from all tobacco products – and we’ll continue to address these issues from every angle. We’re going to be taking a series of escalating actions under our new Youth Tobacco Prevention Plan, beginning with our actions last week targeting JUUL products, and continuing with today’s effort with our partners at the FTC. We appreciate the FTC in joining us in these actions.”

Some examples of the products outlined in the warning letters, and being sold through multiple online retailers, include: “One Mad Hit Juice Box,” which resembles children’s apple juice boxes, such as Tree Top-brand juice boxes; “Vape Heads Sour Smurf Sauce,” which resembles War Heads candy; and “V’Nilla Cookies & Milk,” which resembles Nilla Wafer and Golden Oreo cookies. Other products include “Whip’d Strawberry,” which resembles Reddi-wip dairy whipped topping, and “Twirly Pop,” which not only resembles a Unicorn Pop lollipop but is shipped with one.

In late 2017, the FDA started its investigation of tobacco product labeling and advertising that causes the tobacco products to imitate food products, particularly those that are marketed toward, or appealing to, children. The products noted in the warning letters are considered misbranded in violation of the Federal Food, Drug, and Cosmetic Act because their labeling and/or advertising imitating kid-friendly foods is false or misleading.

The FTC joined the warning letters under Section 5 of the FTC Act, which prohibits unfair or deceptive marketing practices. This prohibition includes practices that present unwarranted health or safety risks. The products at issue are marketed in packaging that resembles foods and drinks popular with young children, and have scents similar to the juice, cookies, or candies the packages mimic. Given the serious child poisonings due to ingestion of liquid nicotine, the FTC said that marketing these products in packaging that is likely to be particularly appealing to young children could present an unwarranted risk to health or safety.

The FTC and FDA have requested responses from each of the companies. The warning letters also state that failure to correct violations may result in further enforcement action such as seizure or injunction.

Contact an FTC compliance and defense attorney if you are the subject of a local, state or federal advertising-related regulatory action or investigation.

Richard B. Newman is an Internet marketing compliance and regulatory defense attorney at Hinch Newman LLP focusing on advertising and digital media matters. His practice includes conducting legal compliance reviews of advertising campaigns, representing clients in investigations and enforcement actions brought by the Federal Trade Commission and state Attorneys General, commercial litigation, advising clients on promotional marketing programs, and negotiating and drafting legal agreements. You can find him on LinkedIn at FTC Defense Lawyers.

ADVERTISING MATERIAL. These materials are provided for informational purposes only and are not to be considered legal advice, nor do they create a lawyer-client relationship. No person should act or rely on any information in this article without seeking the advice of an attorney. Information on previous case results does not guarantee a similar future result. Hinch Newman LLP | 40 Wall St., 35thFloor, New York, NY 10005 | (212) 756-8777.

Photo Credit: Visual Content Flickr via Compfight cc

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How Blockchain Will Help Small Businesses Challenge Even the Largest Rivals

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Blockchain will democratize data.

May 5, 2018

4 min read

Opinions expressed by Entrepreneur contributors are their own.

Businesses that embrace modern digital technologies see significantly higher growth margins than those that are slow to adopt them. But while large companies like Microsoft and IBM are already applying blockchain to their infrastructures, small businesses are lagging when it comes to implementing the technology.

Data has become the lifeblood of business, but companies of all sizes are limited when it comes to what information they can acquire and from whom they can acquire it. Businesses looking to add customers typically have to earmark funds to get data from third-party vendors like Facebook or Amazon -- and this is on top of the money they already spend for advertising campaigns.

Amazon and few other behemoths have cornered the market when it comes to acquiring and selling data. Everything from shopping habits to political leanings to health concerns of their users is information the buyer can trust.

However, blockchain stands to revolutionize this process by making data trustworthy all on its own. The distributed ledger offers full transparency, so buyers and sellers can see the source of any information, and whether it has been tampered with. Ultimately, this means internet giants will no longer be the only trusted source for data and small businesses can now begin to reap the benefits.

Cutting out the middleman.

Acquiring data today is akin to shopping at a big box store like Walmart. The seller is big and has the final say on what inventory will be available and at what price. But what if acquiring data was more like visiting an open-air bazaar? Since data can be trusted thanks to blockchain, the “big-box model” is now in jeopardy. Theoretically, any business can offer up the data they are currently unable to monetize, and buyers will know it’s genuine information.

If small businesses can share data with one another directly, they can make a wider variety of it available at a lower cost, provided there are privacy mechanisms in place when it comes to how the information is used. For example, acquiring data through Facebook or Google generally means a business can get some user information, but not critical business information like email addresses and phone numbers.

Direct data commerce means smaller businesses can get more types of trusted information at a lower cost, and then better target their promotions and advertisements. This in turn means their ad budgets can come down significantly.

What will direct data commerce look like?

When enterprise data is verifiable, transparent and readily available, small businesses in search of data should be able to see a snapshot of what kinds of information is available and from whom. No one wants to shop in a massive, open-air bazaar without a guide to what goods might be found in which areas.

A buyer should be able to submit a query in a blockchain-enabled environment and get back information on which businesses have the type of data they want. For example, an email marketing company looking to target female consumers over the age of 60 who live in the New York metropolitan area, should be able to enter those parameters into a query and get back a list of businesses that have such data.

The businesses that have this particular data -- instead of sharing all of the contact information for all of those consumers -- could use blockchain to circulate an advertisement to every person in that exact demographic on behalf of the buyer. This way, the seller could make use of email addresses of customers without making that information available to anyone else, hence protecting privacy.

Consumer benefit.

When small businesses team up through direct data exchange, there will also be new and unexpected benefits to consumers. Blockchain will bring transparency and trust to online transactions, but its influence will likely be far more disruptive than that. It will give consumers more choice and enable smaller businesses to slash costs by working together directly that will challenge the dominance of much larger rivals.

No mechanism like this has ever existed before, and the timing for it couldn’t be better. As Facebook’s recent travails illustrate what happens when too much power, or in this instance, data, is consolidated among too few players. Regulators may be changing the way Internet giants collect and sell data, but the influence of blockchain could be far more disruptive.

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Dot Com Lunch – The Billionaire Charity Case

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On this episode of the Dot Com Lunch, I explain how a school use internet marketing methods to increase their fund raising, and why it’s important to start a Go Fund Me campaign to raise money to buy a coach for a billionaire.

Anyone is welcome to join us for the Dot Com Lunch. Please go to our Dot Com Lifestyle meetup page to find the time and location of the next get together. We look forward to meeting you!

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

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10 Techniques to Meet a Deadline (Infographic)

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With these helpful tips, you'll never miss a deadline.

May 5, 2018

2 min read

Opinions expressed by Entrepreneur contributors are their own.

Missing a deadline can make you look bad -- or even worse, make you lose a job or fail a class. Whatever the scenario might be, you should always get your work finished on time. However, due to all of the distractions in our lives, it can be difficult to hunker down and get things done. Luckily, there are a few techniques to help you meet deadlines.

For starters, clarify exactly what is expected from you. When you understand exactly what needs to be done, you’re already setting yourself up for success. Of course, sometimes you might feel stress or pressure from a long-winded assignment and an upcoming deadline. Instead of freaking out, take a second to breathe and ask yourself questions including: What is my main priority? Who should I contact if I run into an issue? What does success look like and how will I measure it? Asking questions such as these helps to ensure that you’ve got all of the right resources, information and equipment around you to successfully get things done.

Next, take a moment to map out all of your priorities so you understand the order in which you should begin completing each. It’s also a good idea to write down due dates to help manage your time throughout the process. One major red flag when trying to meet a deadline is being unrealistic. In general, people tend to overestimate their ability and available time, so it’s important to be honest with yourself and the people you’re working with.

Check out SavingSpot’s infographic below for 10 techniques to help you meet deadlines.

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5 Cheapest-to-Most-Expensive Options for Marketing at Trade Shows

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Trade shows are an important component of B2B marketing because they fit almost every budget.

May 5, 2018

5 min read

Opinions expressed by Entrepreneur contributors are their own.

If you are a B2B marketer, industry trade shows are often the ideal meeting place to network with your industry peers, all in one central place. So, incorporating trade shows into your marketing plans is often a terrific way to get in front of your target customers.

There are many ways to get the word out about your company at trade shows, with varying degrees of cost. Here are the top five options to consider, in order of cost, from least expense to most expensive.

1. Speak

The best thing to do is position yourself as an authority on a certain topic that is relevant to the audience of the show. The show organizers are always looking for good speakers to fill their agendas. Why can’t that be you?

You never want to pitch your company as the primary topic, as the show organizers won’t let you simply stand up and promote yourself. You want to pitch a topic that is educational to the attendees. The National Restaurant Association Show attendees are likely to be interested in learning the hottest new trends in restaurant designs and restaurant furniture, as an example.

If you can, find a brand-name customer of yours to collaborate with on that pitch to the show organizers. Instead of you pitching your own success, your customers can pitch that success for you. Look for collaborative pitches with your customers, as the show producers love getting brand name speakers on their rosters, much more than unknown startup executives.

The best thing about speaking is there are typically no costs to you, other than the travel time and costs to get there.

2. Attend

If you can’t become a speaker, make sure you at least attend the event. Attendee costs are typically not that expensive, and they can yield a big pay day as you are networking throughout the event, rubbing shoulders with prospective customers at the lunches, break-out rooms and while walking the exhibit halls. Attending also has the additional benefits of educating yourself on key industry trends and keeping an eye on how your competitors are marketing themselves at events like these.

3. Advertise

There are several ways to advertise your business at or around events. If there is a trade show magazine, directory, website or email list, buy an ad if you can. You might have an opportunity to handing out fliers to people in the hotel lobbies or bus shuttle stops near the show or buy ads targeting fans of the show on Facebook. There are options for all size budgets here, depending on how creative you want to get.

4. Exhibit

Having a booth as an exhibitor is one of the more expensive options. The booth comes with a cost of around $5,000 and the space rental can be another $5,000, plus you typically need a couple people manning the booth, including all their travel related costs for those days.

However, with having a booth you have good visibility in the exhibit hall, provided you locate your booth in a highly trafficked location (so study a show map before committing to a booth location in a bad location). Have handouts, life personalized zip drives with your logo on it and company presentations included, ready at your booth so visitors will remember you when they are back in their offices.

Based on my experience, if you break even with sales coming from leads generated by your booth after the show, you are doing a good job.

5. Sponsor

Becoming a sponsor of the show can be very expensive, such as sponsoring the show’s lunch for the day by paying for all the meals in exchange for premier brand exposure and a five-minute sales pitch during the lunch. Pricy but less expensive options include paying for the show badge lanyards in exchage for having your logo included on the lanyard.

There is a wide range of options to consider here, at a wide range of prices, depending on how big of a splash you want, and can afford, to make at the show.

How to prioritize which trade shows to attend.

It is hard enough for an early stage company to afford one trade show, yet alone 20 shows, so you be strategic in how you prioritize which trade shows to attend. Figure out which shows will have the highest number of target customer prospects (not target companies), and go from there. Obviously, shows closer to your home region are less expensive to attend and are likeliest to be attended by your target customers.

Trade shows would not be my first marketing effort for an early stage company. I would favor more cost effective things like Google search ads and targeted ads to my prospective customers on LinkedIn first. But, when you can afford to add trade shows to your mix, you should. As a benchmark, the average cost per B2B lead may be $250, and the average cost per B2B lead sourced from a trade show may be $750, so make sure your average sale is enough to cover that level of marketing investment.

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4 Female Entrepreneurs Share the Visions That Helped Make Them Successful

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Looking for female role models in business? Learn about these four women.

May 4, 2018

5 min read

Opinions expressed by Entrepreneur contributors are their own.

Starting a business is like starting a new diet. The hardest parts of this journey are getting the courage to begin and understanding what is the plan that is most likely to succeed.

You have an innovative idea that will improve the world, and the thousand new things you must learn about running a business are enough to make your head spin. A great way to start your new business is to find a mentor and reach out to them for advice.

With the number of women-owned business growing 2.5 times faster than the national average, and with 114 percent more women-owned businesses in the U.S. than 20 years ago, we now have many successful female entrepreneurs who can serve as role models and mentors for future generations.

Here are four highly successful female entrepreneurs who can be role models for you.

Sabah Al-Haidous

CEO of Silatech Foundation

Sabah Ismail Al-Haidous is the CEO of the Silatech Foundation, an organization that is leading an education innovative for young women in Qatar and surrounding regions.

When Al-Haidous started out, the best way to promote Silatech’s mission was to work with local governments -- or at least, it seemed that way. She learned quickly how that wasn’t always the case and that she needed to be more flexible.

In an interview with Buzzfeed, Al-Haidous explained, “We shifted our strategy at Silatech away from a heavy reliance on governments towards a greater variety of partnerships with other NGOs and the private sector. We’ve also increased our reliance on technology, which helps overcome physical barriers.”

In addition to finding new ways to promote her business, Al-Haidous regularly attends and speaks at conferences and workshops. Al-Haidous shows all aspiring entrepreneurs that to make a name for yourself, you need to be proactive and open to change.

Marie Forleo

Writer, digital entrepreneur and philanthropist

After several failed attempts at starting a business, Marie Forleo found her niche in the coaching industry. Slowly, she started to gain momentum until she caught the attention of Oprah, who named her as one of the thought leaders of the next generation. Her TV show, MarieTV, airs weekly and is the perfect resource for female entrepreneurs to utilize.

Forleo advises entrepreneurs to be optimistic. “I believe that no matter what your dreams or obstacles, you have the power to change your life and, by doing so, you’ll change the world.” Her story of how she became a business owner proves that it is possible for anyone to create a six or seven figure business.

Shelia Lirio Marcelo

Founder, Chairwoman and CEO of Care.com

Care.com is the go-to business for parents looking for a babysitter so they can go and enjoy a night out on the town. The idea of Care.com came from Shelia Lirio Marcelo’s own challenges of finding affordable childcare as a working mother. Care.com launched in 2006, and now serves more than 27 million people across 20 countries.

Recently, Care.com expanded into other housekeeping services such as maid service, pet caregivers, and senior care. Marcelo recognizes that she couldn’t have done it all on her own. In an interview with the The New York Times, she speaks about how to create leaders so that you don’t have to manage an entire business all at once. She says, “I think it’s learning the different styles that people have, and harnessing their strengths, and how they get motivated and what inspires them to get stuff done.”

Creating leaders within an organization is one-way Marcelo suggests is vital for success when you are expanding your business.

Jayamala Subramaniam

CEO of Arghyam

Due to the over-extraction of groundwater, water tables are drying out. This water crisis deeply impacts heavily populated countries like India who depend on groundwater, especially when it comes to watering their crops.

Subramaniam founded Arghyam in 2005 aimed at helping to solve this pressing issue. The challenge of starting and scaling a nonprofit organization makes her a highly regarded figure. Subramaniam said in an interview, "No profit-oriented startups will work in reviving traditional water harvesting models. It is not easily commercialized as the poor won't be able to pay for it. This is a conundrum that is tough to break for scalable technological solutions to come."

Figuring out how to approach large communities across India to care about an issue that impacts them all didn’t deter Subramaniam. Subramaniam is one entrepreneur to admire and emulate to when facing business challenges of any proportion.

These four women are improving the world through entrepreneurship. The history of how they began should be relatable to all entrepreneurs. Their success and inspiration are motivational for anyone looking to make their business a big success too.

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How Small Business Are Solving Big Business Challenges

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May 4, 2018

4 min read

Opinions expressed by Entrepreneur contributors are their own.

Across the industry during the first week of May, we recognize small businesses during National Small Business Week, and they deserve recognition all year long as they tackle many of the same challenges that larger companies face. Small business owners are focusing on hiring, technology and other key needs all while making sure their businesses run smoothly.

While they may not have the same resources as larger organizations, small businesses often have unique characteristics that can help overcome business challenges. Small businesses are known for their ability to be flexible and quickly adapt to change. Small businesses typically have strong relationships with their local communities as well, which can often provide mutual benefits.

Here are a few ways that small businesses can tackle big business problems this week and beyond:

Challenge: Hiring and retention

In today's competitive business environment, hiring and retention always remains top of mind for business owners. According to the latest Capital One Small Business Growth Index, 20 percent of small business owners say employee retention is one of the biggest impediments to business growth.

Retention starts with hiring the right people in the first place. It is important for business owners to hire talent who not only fulfill the job requirements, but employees who love what they do and are compatible with their business culture. Recognizing hard work also plays a valuable role in attracting and retaining talent. Rewarding employees with paid vacation time, parental leave, 401k offerings to save for retirement, insurance, sales bonuses or recruitment bonuses, promotes positive morale among the team and helps to create a great place to work.

Challenge: Adopting new tech

Technology adoption is also a major opportunity for small business owners, as the Small Business Growth Index found that 65 percent of small business owners believe technology innovations are making it easier to streamline business operations.

Adapting to evolving technology advancements can be cumbersome and expensive for any size business. However, the ability to adapt more quickly is an advantage smaller companies can have over corporate counterparts. For example, switching from traditional data storage on servers and mainframes to cloud technology may be a much easier process for a small business than a larger one – and it’s an opportunity to save money in the long run. The ability to find and implement creative tech solutions may be a challenge, but it’s also an advantage for small businesses if they are able to move quickly.

Challenge: Time management

Time management may be the most common problem faced by small business owners today. Small business owners typically wear many hats and can struggle to find the time to complete every task. No small business owner starts a company to manage administrative tasks, but many find that they spend countless hours keeping tabs on things vs. doing whatever it is that made them want to start a business in the first place.

My advice? Never underestimate the importance of organizing and prioritizing tasks. Creating goal lists broken down annually, monthly, weekly and daily can help business owners focus and ensure that priorities are getting the attention they deserve. Additionally, if tasks do not align with goals, they should be eliminated and tasks that can be handed off to other team members or streamlined through technology should be delegated to free up time.

Business owners face many challenges with as they manage and grow their business but identifying advantages unique to small businesses can help drive long term success. Organization, perseverance and nimbleness can be their most valuable assets. By seeing every challenge as an opportunity and working successfully in a collaborative environment, entrepreneurs can reap the rewards of building their own business.

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Alan Knott-Craig Answers Your Questions On Finding a Funder To Managing Your Staff

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I clearly remember my first large pitching opportunity over six years ago. It was an evening cocktail event organised by one of the legendary pioneers of South Africa’s venture capital (VC) community, Brett Commaille. It took place on or near the top floor of the Reserve Bank building in Cape Town. One of the reasons it’s so vividly etched in my memory is that I had to climb more than 30 flights of stairs to get to it because as a chronic claustrophobe I don’t do lifts.

After reaching the right floor and catching my breath I stepped into a room full of 30 or so high net worth individuals — my introduction into the new world of Angel and Venture Capital investors.

Looking back, I wasn’t as nervous as you might expect, partially, I thought, because I had prepared well and I whole-heartedly believed in the product I was pitching. But in hindsight, I realise it was mostly because I was wonderfully naïve. There are some benefits to being a greenhorn.

The pitch itself went well, I had been briefed to keep it simple and short. I described the solution we had developed, the problem it was addressing and what the size of the potential market was. I spoke briefly about the competitors and what our differentiators were, what the business model was and shared our go-to-market plan.

I covered the size and pedigree of our team, as well as my skills and experience as the founder (aka the jockey) and ended with details on how much money we were looking for and what we would use it for. I was relieved when it was over and felt confident about my delivery.

A bunch of hands shot up, which was positive. I felt encouraged; the hard part was behind me. Or so I thought. My nightmare began when I took the first question. “Great pitch, I love what you guys are doing. Please can you tell me a bit more about the traction you are getting, what your current burn rate is and how much runway you have.” My heart sank and I felt my cheeks start getting hot.

I didn’t have the foggiest idea what he was talking about. I could tell he wasn’t intentionally trying to embarrass me, but nonetheless his VC jargon made his questions sound like enquiries about cars and airplanes or something mechanical rather than anything I was working on. I put on a brave face and asked him if he would mind explaining to me what it was he wanted to know so that I could try and answer him. That was the start of a steep learning curve as I began to navigate the world of early stage capital raising.

Six years on, the South African start-up and venture capital community has matured and grown dramatically and there are many more entrepreneur events, training opportunities, start-up competitions and pitching coaching sessions, which has resulted in some of the lingo becoming more commonplace — even so, raising venture capital still largely remains a very foreign and intimidating world for novice entrants. Back then I wished I’d had access to a practical VC-made-easy glossary and step-by-step manual as a beginner’s guide. I’ve been threatening to write one ever since.

Terms you should know when looking for funding

After surviving my harrowing Q&A baptism of fire, I starting working my way through the world of term sheets and deal negotiating and came across many more acronyms and VC-specific terminology that I had to learn to interpret and understand. Below are just a few of the terms I would love to have known about and understood before my climb up those Reserve Bank building steps. There are many others.

Deck (or pitch deck) refers to the short presentation you will give to the investors. Guy Kawasaki, a well-known American investor, recommends his 10/20/30 rule as an easy guide for your deck. He says make sure your presentation consists of ten slides, take no more than twenty minutes to get through them and use a font that is no smaller than 30 points per slide.

See guykawasaki.com/the_102030_rule/ MVP (minimal viable product). This is a product developed with the minimum features to ensure it is sufficient to satisfy early adopters. The final, complete set of features is only designed and developed after considering feedback from these initial users.

Traction

Traction refers to the number of people who have already started using your product or service and provides a means of proof to the investor that people want/need what you are selling. Traction is best measured by the number of paying customers acquired over a defined period.

Churn rate

If you are running a business that sells products/services via subscription, then potential investors will want to know your churn rate. This refers to the number of customers who bought your product and never continued using it i.e. those you lost after acquiring them. This figure impacts your growth forecasts.

Tip: Make sure that you have built the churn rate into your forecasts so that your numbers are solid.

Burn rate refers to the amount of money the business requires monthly to cover operating expenses. You can definitely expect to be asked what your current and anticipated burn rate looks like should you receive growth funding.

Runway refers to the number of months that the business has sufficient cash to continue to operate before it runs out i.e. if you have R200 000 in the bank and your burn rate is R95 000 and you are not expecting any immediate income from sales then you have two months runway.

What investors want to know is how long the business can keep going until it has to close. Once again expect to be asked your current runway and your future runway in terms of the amount of money it will take to achieve the desired numbers.

Hockey stick

This is a common term used to describe the kind of growth curve in a start-up that an investor is keen to see. It refers to the exponential growth of things like users or page views, but mostly to revenue, which is projected to occur once a particular inflection point is reached. Early stage investors like to invest before this point is reached and then to sell their shares once the hockey stick growth is achieved.

Exit strategy

Venture capitalists only plan to invest in your business for a limited time period, usually between five and seven years, before expecting to receive their returns. An exit strategy is a planned approach to them leaving in a way that will maximise their benefit and minimise damage. A typical exit strategy is a plan to sell the company once it has achieved its anticipated growth targets. In this case they may want to know who you foresee would be prepared to buy your company.

Term sheet

The term sheet is the document presented to the start-up by the venture capital investor once they have decided they would like to invest. It outlines the terms by which they are prepared to make the financial investment in your company. You are entitled to negotiate the terms with the investor before reaching agreement. The signed term sheet is not legally binding, unless stated, but rather it contains the final terms of the investment that will be used to draw up the legal documents for the deal. Always seek legal advice before signing a term sheet.

Do your research

My encouragement to entrepreneurs who are looking to raise venture capital is to have a coffee or two with a few seasoned founders who have already done deals in order to get firsthand insights about what to expect when you engage with VCs — from the time you land the pitching opportunity to when you sign a deal and get the money and everything in between.

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Your Family Business Won't Survive If You Don't Plan for the Leadership Transition

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May 4, 2018

6 min read

Opinions expressed by Entrepreneur contributors are their own.

When advising family business owners, one of the biggest challenges I see clients grapple with is the transition from being "power players" who dominate every aspect of the company, to "people builders" who cultivate the next generation.

Take the example of "Terry," who had successfully led his manufacturing company for almost three decades. At age 68, he just didn't have the energy that he'd had even 10 years ago. What he did have was a wealth of institutional knowledge, which was part of his company's success. Terry was still the public face of the company, known throughout the community and by his customers and distributors as an astute businessperson with a big heart. Unfortunately, all of Terry's secrets to success were locked in his brain, so when his two sons stepped up to take a leadership role, they had no relationships with key stakeholders, such as the advisory board, the bank, the local community, customers and suppliers. Their style of leadership also was different than Dad's. Key customers were leery of the impending change and suddenly became more interested in re-negotiating contracts.

Much of this difficult transition could have been averted if Terry had included his sons in key business meetings and relationship-building opportunities early in their leadership training. Terry had a lot to share, but he just didn't know how.

Family business challenges

Terry isn't alone. There are approximately 5.5 million family businesses in the U.S. According to Tharawat Magazine, these businesses are estimated to account for more than half of the U.S. GDP and employ more than 60 percent of the workforce. Yet, despite their outsized impact on our economy, many family businesses haven't planned properly -- or at all -- for a transition in business ownership. One study by MassMutual found that more than 40 percent of respondents expected to retire within 10 years. However, fewer than half of those expecting to retire in five years and less than one-third of those expecting to retire between six and 11 years reported that they had a chosen successor.

There are three main challenges that family business owners typically face:

How can they pass on the institutional knowledge gained through years of experience so that the next generation can keep the business going in the right direction?
Do they want to pass on their business culture and values, such as a connection to the community or concern for employees, to the next generation?
Most importantly, how can the business be strong and sustainable without them?

Understanding the business lifecycle

To address these challenges, an owner must first understand the three key stages of the business lifecycle and what must be done to progress to the stage where ownership can be successfully transitioned.

Stage one: Entrepreneurial. The founder/owner runs the show; the long-term vision is in his or her head. Rarely is there a written strategic plan. While the owner may have the support of key personnel, they are expected to execute while the owner makes the ultimate decisions.

Stage two: Durability. In this stage, an owner is surrounded by other leaders who have the responsibility and authority to make decisions. The business follows something of a shared vision and also has more formalized operating processes; performance metrics; and a semi-independent board, which is either fiduciary or advisory.

Stage three: Legacy building. Here, the owner and other company leaders have done a really good job of capturing knowledge and disseminating it throughout the organization. Businesses in this stage have done a solid job of building the leadership bench and making succession planning an orderly process.

Few family businesses actually progress to stage three. To get there, owners need to envision what their lives might look like 10 years down the road.

Answering questions regarding successor readiness helps owners clarify what would give them confidence as the transition evolves. The transitioning leader might gain clarity on the current state by asking: "What is working today?" This can be followed by imagining the desired future state once they have fully transitioned into the next phase of their life. However, to get from the current to the future state, most owners need to develop several interim phases that allow for making incremental changes in their role as they become more comfortable with their changing responsibilities.

Embracing a new role helps many business leaders to both add value, due to their vast experience, and to learn new skills that will benefit both the company and the next generation. However, this is not always easy. Owners are generally engaged and entrepreneurial people, and it is difficult to step away from the heady days of making all of the important decisions. This is why we encourage a step-by-step process that has a clear goal in mind and helps the owner to take baby steps as he or she becomes more comfortable with a new role. It also helps to be transparent with other leaders in the company about what the owner is trying to achieve and what help or support is needed to get there. Some owners choose to include their transition objectives as part of the strategic plan and may begin to introduce new organizational practices, such as an advisory board or a family council, to help to achieve those objectives.

Once Terry was aware of the value and importance of his years of experience, we were able to develop a plan for gradually transitioning his role and systematically sharing his wealth of knowledge. Terry began by identifying his most important strategic relationships, detailing how he formed and maintained those relationships, and introducing his sons to his many advisors, clients and business colleagues. Next, we worked together to develop a training plan that incorporated the opportunity to learn directly from Terry and other leaders in the organization. Finally, Terry and his sons developed a clear agreement, outlining the process for transitioning their roles and responsibilities over a three-year period.

Because a business transition may not come naturally to the owner, it is crucial to create a formalized process, like Terry's, that includes well-defined goals, open communication and frequent feedback. Through this process, the owner gains the ability to move from the power player position to that of a people builder.

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Invest And Save 100% Of Your Tax Payable To SARS With The 12J Fund

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What is a 12J Fund?

Clive Butkow: In 2009, the South African Government implemented a tax incentive for investors in enterprises through a Venture Capital Company (VCC) regime known as Section 12J.

These funds were set up to help early stage companies raise venture capital to stimulate economic growth and job creation. Section 12J was based on the Venture Capital Trusts (VCT) in the UK, which enable high net worth Individuals to save tax and rather invest in a VCT, which will then invest in start-ups. Individuals, trusts and companies can all invest in a Section 12J company and receive the respective tax deduction.

Neill Hobbs: The South African Revenue Services (SARS) has written Section 12J into the Tax Act, which offers taxpayers a 100% reduction in their taxable income in the year of investment for the amount they invest by way of a subscription for shares in a Section 12J VCC. The VCC then invests into small and medium-sized enterprises (SMEs) with the added intention of creating jobs and securing employment. The VCC must be approved by both SARS and the Financial Services Board.

Why is it tax deductible?

Gidon Novick: The legislation provides for a tax deduction providing the fund complies with the requirements of the Act. The intent of the incentive is to stimulate certain critical areas of the South African economy (such as tourism and hospitality) through SME growth in the sector.

Neill: Section 12J advocates investment into SMEs and junior mining exploration to act as a catalyst for a positive shift in the economy. We know that SMEs are a significant source of employment in the economy and provide a plethora of job opportunities and income security for households. This ultimately creates a positive iterative loop in the economy.

How do the tax deductions work?

Clive: The total amount invested can be deducted from the tax- payers’ taxable income. This results in a taxpayer (who is paying tax at the marginal rate of 45%), saving 45% of their investment by reducing their taxable income. For example, a taxpayer who has a taxable income of R1 million and would normally pay R450 000 to SARS will rather pay the R1 million to the Section 12J company and pay zero tax.

The caveat is that the taxpayer needs to hold their shares for five years in the relevant Section 12J fund, or SARS will recoup their tax saving. The tax is deductible to incentivise taxpayers to rather invest in a Section 12J company and promote the growth of the South African economy than pay tax on their taxable income.

This seems like a double benefit to investors? Is that correct and why?

Clive: There’s definitely a double benefit, as the taxpayer receives a once off deduction from SARS in the year they invest in the Section 12J company, as well as an added benefit based on the performance of the Section 12J company. Some companies are set up to invest their capital in higher risk ventures with others in lower risk ventures. The returns to investors range from 15% to 38% based on the nature of the fund and their investment strategy.

Gidon: The benefit to investors would be in the form of their tax deduction but importantly also their investment returns. Investors need to fully understand the nature of the investments the fund is making, the risks involved and their ability to cash out after the five-year minimum term, in other words, the liquidity of the investment.

Neill: Individual investors will get an immediate tax saving, up to 45% of the amount invested, in addition to any dividends and long-term capital growth. A Section 12J VCC provides self-interest value to the taxpayer in the tax saving and growth in investment, but in a broader sense, marries business value with societal value through the boost in the SME space.

What questions should investors who are interested in investing in a 12J fund be asking?

Clive: The most important question is of the experience and reputation within the management team. Money follows management in the venture capital asset class. The management team needs to have experience in the investment strategy of their Section 12J fund. At Kalon Venture Partners we only invest in disruptive digital technologies where the CEO and the board have significant experience in buying, building and selling technology companies. The CEO was the ex-COO of Accenture South Africa and prior to that led Accenture’s technology business. Another important consideration is how the Section 12J company creates liquidity for their investors as it’s important for the investor to understand how and when the Section 12J company will pay dividends of the profits and surpluses on the sale of assets. Lastly, investors must understand the governance and investment disciplines, systems and processes when making investments.

Gidon: What is the risk/return profile of the underlying investments? Who are the fund managers and what is their track record? What are the assets that underpin the investments? How will this fund make an impact on the South African economy and job creation? How will I get my money out after five years?

Neill: Confirm SARS and FSB approval. What is the VCC’s investment strategy? The VCC’s industry focus? What is the fund’s launch date? Track record? Capital raised? Targeted return? Number of investments made in qualifying companies? Annual financial statements published? Basis for valuing the underlying investment and the VCC’s dividend policy and history? Fee structure? Minimum investment?

What are the pros and cons of a 12J fund versus more traditional investment portfolios?

Neill: The benefit for a deduction in respect of a retirement annuity contribution is limited to

R350 000 in a year, whereas the contribution and benefit of an investment into a Section 12J VCC is not capped and can be 100% of taxable income.

Many SMEs require capital and management support. With the support from the VCC team, stakeholder integration and interaction takes place on the factory floor, rather than just in the boardroom. The investor management team walks the walk with the SME.

A VCC investment should be viewed as a long-term investment. The proceeds on the sale of the VCC shares will be subject to full tax recoupment if the shares in the VCC are sold within five years from the date of investment.

If the shares are held for a period exceeding five years, the sales proceeds from the sale of the shares will only be subject to capital gains tax, albeit from a zero base.

Clive: A major pro for investors is the upfront tax advantage where there is no limit to the investment that you can make, unlike an RA, which is limited to a percentage of taxable income and capped. A second pro is the fact that investors can now diversify their portfolio with 12J investments and not only invest in the traditional capital markets.

What is the amount you can invest into a 12J fund?

Neill: CIPC requires that if a VCC does not have a prospectus, then the minimum amount that can be invested is R1 million. The intention with this is to make sure that any general person from the public, who might not understand the investment they are investing into, does not invest more than is appropriate for them.

Clive: Our recommendation at Kalon Venture Partners is that an investor should not invest more than 7,5% to 10% of their net wealth into a Section 12J due to the higher risk profile of a venture capital investment.

Is there a ‘right’ time to invest in a 12J fund with regards to tax exemptions?

Clive: There is no right time to invest, however with the current rand strength we see this as a vital time to diversify one’s portfolio. The most effective time to raise capital is at the tax year end on 28 February. An alternate time of the year that capital is raised is during the provisional tax season in August or September each year.

Gidon: An investor should only consider a 12J if they have the taxable income and don’t need access to the funds they have invested for at least five years. Investments must be made before the tax year-end (ie 28 February) to qualify for the deduction in that year.

Neill: Section 12J is particularly attractive to high income earners. It’s also attractive to those taxpayers who have made a capital gain, which will be subject to capital gains tax. For example, an individual who realises a capital gain of R5 million in the 2018 tax year, will only have to invest the inclusion amount of 40% (R2 million) into a VCC to avoid capital gains tax completely in the 2018 tax year.

A VCC investment is the only recognised manner in which a corporate employee, who is subject to PAYE on their salary, can receive a refund of PAYE deducted by the employer. Although there is no provision for a directive for the reduction of the PAYE amount, an employee who earns R2 million per annum, and makes a R2 million VCC investment, could receive a full refund of PAYE on the submission of their annual tax return.

The sunset clause is currently 30 June 2021. This means that funds invested before that date must remain in for the five-year period, but any funds invested into a 12J fund after that date will not enjoy the current tax benefits. This date could be re-assessed and extended.

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The 8 Most Popular and Effective Uses of Video Marketing

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May 4, 2018

6 min read

Opinions expressed by Entrepreneur contributors are their own.

A custom video is a terrific tool to help companies and brands accomplish their short- and long-term business goals. Whether your aim is to drive traffic, educate a current or potential customer, or share a glowing testimonial, video is one of the fastest and most engaging ways you can possibly interact with your customers, short of a face-to-face conversation.

There are too many uses to count, but I'll share a few of the most popular video marketing types we produce for Sparkhouse clients to give you a sense of this format's versatility.

Product videos

Product-centric videos focus on an innovative new product soon debuting or just released, where you have the keen ability to "show and tell." Use a product video to explain your complex product in a simplified way that builds enthusiasm, highlights the benefits and demonstrates how the item works. Carry through with an overall theme of how your product intends to make the customer's life better. Inspire viewers by painting a picture of a certain lifestyle and showing how your product can serve as the perfect accessory.

An example of a great product video is this one from credit card alternative Coin. At the time, Coin's product was brand-new technology that was pretty complex, but with some visuals and an engaging host the audience fully understands the product's features quickly.

Corporate videos

Tell your new staff, partners, investors or customers who you are with a video that elevates your company's purpose and vision. Use graphics, on-camera talent or voice-over to explain what your company does, why you are different and what makes you great. Use your company profile video on your website's home page, so that visitors can quickly understand your brand, your vision and how you can help them. A corporate video may also be used to recruit the best talent on LinkedIn or other social networks, and to motivate investors and allies to seek you out.

The key to a great corporate video is the people, as demonstrated by the video below from Priority Payment Systems. Hosted by the CEO, the video shows the rest of the company in action as he narrates the story of how the company came to be.

TV commercials

Whether national or local, television is still king when it comes to getting a message out to the masses. Even in a short, 30-second spot, there's a lot of room to experiment with and establish the creative expression of your brand -- use a "slice of life" scene format, a problem-solution approach, an informative spokesperson, etc., while presenting a well-crafted image. Utilize targeted local advertisements to reach your local loyal customers, or national ads to grow your brand. If your spot is strong enough and supported with a smart media buy, it could put your company or product on the map.

With TV commercials so common it is key to stand out. Apple brought in director Spike Jonze to make a visually engaging commercial showing off the new Apple HomePod.

App videos

With an influx of application options hitting the Android and iPhone app stores on a daily basis, the landscape is extremely competitive. Separate your company from the pack with an app video that displays its standout features and recruits potential users, even before the app hits the market.

Since app customers are hesitant to download an app without fully knowing what it does and how it works, a quick app video can go far to explain all the details to an interested party. Excite your audience and show off the key features that make your app special to drive downloads.

With app commercials, it is always helpful to have the commercial speak for itself visually and not need any voice over or narration. Tesco's app commercial engages the viewer and explains its uses in a fun, new, visual way.

Explainer animation videos

Have something complex or new that needs to be explained? There's no better way to get your message across than with a visually powerful animated explainer video. Create locations, actors and props that are difficult or even impossible in the real world by using the power of animation. With the combination of audio voiceover and captivating graphics, you can demystify complex or multi-faceted topics much quicker than in a normal narrated video

Google takes a complex concept and is able to simplify it down to a clean, minimalist line animation in this explainer about the Google One Hub

Website videos

Whether you are offering a service or a product, a video posted on your website is the fastest way for a customer to understand exactly what you are offering. For ecommerce brands, a fun web video can give the customer an accurate and intriguing glimpse of your product that she wouldn't normally be privy to without visiting a store. With video living on your website, users should stay longer and interact more with your content. And as we all know, the longer people stay on your website, the higher your conversion rate will be!

Website videos have one purpose and that is to quickly explain to a visitor what kind of product or service you are providing. Beeline does that in the first four seconds of its website video.

How-to videos

Become a thought leader in your industry by creating fun and easy-to-follow instructional videos. How-to videos are typically sought out by people in the industry and can often be found organically. Explain how to best use your product, and promote ease-of-use, to increase customer satisfaction. Quickly explain the optimal way to interact with your business to set expectations high and raise current and future customers' (and potential partners') understanding of the ins and outs of working with your team.

Below, Mark Kohler uses his knowledge as a CPA to educate his viewers and potential customers.

Testimonial videos

Sometimes the best way to convince customers to buy your product or service is to show off the happy customers you already have: Hearing a testimonial can be that final touch that closes a deal. Show off the features or aspects of your company or service that your customers love the most. People tend to trust a testimonial more than a traditional video, since it comes from a third party and feels more objective.

Testimonials need to bring an authentic voice to the customer experience. In this Fulfillment by Amazon testimonial, we follow the great success stories of many happy customers.

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South OC Cars & Coffee – The Car That Changed The World

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Sally and I head to South OC Cars and Coffee and got a tour of the car that changed the word – The 1924 Ford Model T. And for those who don’t like old cars, we also took a look at a new Mercedes AMG GTS with custom wheels and 600+ HP. Enjoy!

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

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How Two Teenpreneurs Are Helping People When They Are 'Not Okay'

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Whether you're a teen or an adult suffering from loneliness, anxiety, depression, stress, suicidal thoughts or anything else, two teens share how their app makes immediate help just the tap of a button away.

May 4, 2018

2 min read

Opinions expressed by Entrepreneur contributors are their own.

After developing a condition that caused then 15-year-old Hannah Lucas to faint daily, she was terrified of being alone. During one of her lowest moments, Lucas was alone in her room and contemplated self-harm. That moment made her ask herself, “What if there was a button I could press and someone would immediately know I was not okay?” She shared the idea with her brother, Charlie, and the notOK App was born.

When a user opens the app and taps the notOK Button, a text message is sent to up to five pre-selected contacts that reads: "Hey, I'm not OK. Please call me, text me or come find me,” along with a link to your current GPS location. You can read more about Hannah and Charlie in Jessica Abo's book Unfiltered: How To Be As Happy As You Look On Social Media.

Watch more videos from Jessica Abo on her YouTube channel here.

Entrepreneur Network is a premium video network providing entertainment, education and inspiration from successful entrepreneurs and thought leaders. We provide expertise and opportunities to accelerate brand growth and effectively monetize video and audio content distributed across all digital platforms for the business genre.

EN is partnered with hundreds of top YouTube channels in the business vertical. Watch video from our network partners on demand on Roku, Apple TV and the Entrepreneur App available on iOS and Android devices.

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SearchAppNetwork - Online Advertising Trends You Need to Know Now

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Tracking and measuring ad performance is more important than ever and a number of companies are helping advertisers with reporting, analytics and measurement. New York-based SearchAppNetwork helps adMarketplace and Bing provide metrics on mobile app ad performance. Mobile app publishers do not have traditional URLs, which makes standard methods of reporting, tracking, and analytics difficult.

To address this issue, adMarketplace created SearchAppNetwork. Every time a Bing advertiser receives a click from a mobile app search ad in the adMarketplace publisher network, adMarketplace creates a URL for Bing advertisers to track performance in the Bing Ads Reporting UI.

For example, 2016 elections and Copa America in the US, UEFA Football in Europe, Summer Olympics in Brazil garnered incremental advertising spending opportunities, which improved media owner ad revenues in comparison to 2015 (when none of the above-mentioned events took place). MAGNA, a company that develops intelligence, investment and innovation strategies for agency teams and clients, suggests that 2016 events accounted for 1% of extra growth.

This article examines 2016’s global advertising activity in various countries and spheres with a look ahead to spot future advertising trends.
2016 ad growth was primarily stemmed from digital ad sales (which increased by 17%) whereas offline media ad sales (these channels include: linear TV, print, radio, and out-of-home) were relatively flat as they increased by 0.3%. If it wasn’t for the cumulative cyclical spending, which benefits mainly television, offline media sales would have slumped by roughly 2.0%, corresponding to 2015’s figures.

Likewise, when looking back at 2016, global net media owners advertising revenues increased by 5.7% to $493 billion (this is a 4.0% increase from in 2015). 2016 was the year that experienced the strongest growth since 2010 (which exhibited a post-recession recovery of 8.8% increase). In 2017, most of the growth emanated from North America as the US market (accounting for 37% of global ad dollars) reported its most prosperous growth rate in 12 years where growth decreased in several emerging regions. Such emerging regions include: Central and Eastern Europe (with a 6.0% increase), Latin America (with a 5.5% increase), Asia-Pacific (with a 5.3% increase) and Western Europe (with a 3.9% increase).

The following are key stats were presented in the Global Advertising Forecast Report 2016:

63 markets experienced advertising growth this year and only seven (most notably Thailand) saw a decrease.• The highest growth rate was recorded in Egypt and the Philippines (both 17%). Among the top 20 markets, the fastest-growing country remains India (+14%) followed this year by a recovering Russia (+8.8%).

The 17% growth in digital ad sales are entirely driven by mobile advertising (+47%), while desktop-based ad sales stagnated (0%) in 2016 and actually shrank in many markets. Mobile advertising accounts for 45% of total digital ads by the end of 2016 and will account for 52% by the end of 2017.

Digital growth was driven by video formats (+35%) and social formats (+43%) while search remains the largest digital media format (+14% to 17.5 billion – 45% of total digital advertising) and banner ad sales declined (-5%).

North America remains the largest market, growing +6.7% to $191 billion; it is projected to slow down to just +1.8% in 2017.

Western European markets grew by nearly +4% for the third year in a row, to reach $100 billion. However, growth was significantly lower in the second half and we expect 2017 sales to slow down to +2.4%. Central and Eastern European ad sales increased by +6.0% to $16 billion, as the Russian market recovered.

Asia-Pacific media sales reached $148 billion (+5.3%) while recession-stricken Latin America managed to grow by 5.5%, thanks in part to the Brazil Olympics.

Looking ahead to the remainder of 2018 and beyond, according to a recent report by Zenith, online advertisers are expected to outspend TV advertisers by $40 billion this year. That means 40 percent of the world’s ad spending is expected to take place online in 2018, with social media ad spending is estimated to rise 21 percent to $58 billion while video ad spending is rising 19 percent to $32 billion in 2018.

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Apple Stock Soars to New Heights Thanks to Warren Buffett's $44 Billion Vote of Confidence

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But not even the Oracle of Omaha makes the right call all the time.

May 4, 2018

2 min read

You win some and you lose some, even if you’re as astute as Berkshire Hathaway owner and CEO Warren Buffett.

In the first quarter of 2018, Buffett bought 75 million shares of Apple, on top of the 165.3 million shares of the company that Berkshire Hathaway had in its possession at the end of last year.

"It is an unbelievable company," Buffett said in conversation with CNBC about the move. "If you look at Apple, I think it earns almost twice as much as the second most profitable company in the United States."

Buffett’s holdings are worth nearly $44 billion and the boost from the Oracle of Omaha saw Apple’ stock rise to a high of $183.65 per share.

Needless to say, Apple CEO Tim Cook is pleased with the turn of events, telling CNBC, that the company is "thrilled to have Warren and Berkshire as a major investor.” Cook added, "On a personal level, I've always greatly admired Warren and have always been grateful for his insight and advice.”

If Buffett is bullish on Apple’s prospects, he is less so on IBM, to the point that he no longer has any shares in the veteran firm at all, according to a recent interview. At the close of 2017, Berkshire Hathaway owned a little more than 2 million shares of IBM after selling off almost 95 percent of the stake it did have.

But it seems that not all of the bets Buffett has made recently have paid off so well. The shares of the stock of a Chinese electric car company called BYD that Buffett invested in have lost roughly $9 billion over the past seven months.

Buffett will speak to Berkshire Hathaway shareholders tomorrow at the company’s annual meeting.

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Monday, 7 May 2018

Work with institutions and platforms that help verify your company’s social impact.

Examine your supply chain.

Look for like-minded investors.

Social impact takes a village.

Who you are going to want.

Savvy with technology.

Oriented toward selling.

Focused on social events.

Creative and competent with social media.

Sunday, 6 May 2018

Cutting out the middleman.

What will direct data commerce look like?

Consumer benefit.

1. Speak

2. Attend

3. Advertise

4. Exhibit

5. Sponsor

How to prioritize which trade shows to attend.

Sabah Al-Haidous

Marie Forleo

Shelia Lirio Marcelo

Jayamala Subramaniam

Challenge: Hiring and retention

Challenge: Adopting new tech

Challenge: Time management

Terms you should know when looking for funding

Traction

Churn rate

Hockey stick

Exit strategy

Term sheet

Do your research

Family business challenges

Understanding the business lifecycle

What is a 12J Fund?

Why is it tax deductible?

How do the tax deductions work?

This seems like a double benefit to investors? Is that correct and why?

What questions should investors who are interested in investing in a 12J fund be asking?

What are the pros and cons of a 12J fund versus more traditional investment portfolios?

What is the amount you can invest into a 12J fund?

Is there a ‘right’ time to invest in a 12J fund with regards to tax exemptions?

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