Tips

How To Find Your Business Idea

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Here's one way.

Say you're working as a personal assistant for ABC Company. You like your job; it's oh-so-fun, but you wish you could start your own business some day.

  • So, you're sitting there, thinking: "Hmmmm, what in the whole wide world should I do?"
  • And then you go, "Maybe one day when I find a great idea, I too can be in business for myself."

So as the years go by, and you still haven't started your business, you start crying like a chumP.

Don't cry like a chumP! Here's some fresh dose of HOPE coming your way.

What business could you start right at this moment?

Try this:

  1. Take your job.
  2. Business-fy it.

Done.

Personal assistant? Start a personal assistant company, provide services to your current employer (and save them freakish costs associated with you being an employee), all the while looking for additional clients to service (adding new revenue opportunities for your new business).

(Quick sales tip: Finding additional clients? Easy! It's akin to seeking the same job at different companies that need your services.)

Software developer? Start a software development company, provide services to your current employer, seek additional clients, etc., etc., etc.

Work in sales? Start a sales company. Yadda. Yadda. Yadda.

As the demand for your services begins to exhaust the mother FREAK out of you (i.e., you can't handle the volume of work), you start hiring, and hiring, and hiring.

Your business starts to grow, and grow, and grow.

Yay!

Sure, employers might not be too receptive of you starting your own business (some organizations might be too large to even consider it), but if you can prove to them that they'll get more bang for their buck (i.e., you provide them everything they need at cheaper prices while protecting all company trade secrets, not working with competitors, etc.), you'll likely open them up to doing business with you.

WIN. Yayayayay!

Your business idea is right on front of you.

Start with yo job.

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Posted June 23 in Starting It, Life |


How to Choose Your Customers

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Say

  1. You market to a customer.
  2. You sell to the customer.
  3. The customer departs forever.

Bam. End of transaction. 1 sale. Suk.

What happened if you sell to the customer, and the customer returns and:

  1. Buys more
  2. And more
  3. And more
  4. And more
  5. And more

Your business starts to become sustainably strong with every customer you attract.

Instead of restarting the sales cycle after every @$@$&@ transaction, your customer transactions grows-and-grows-and-grows.

Likewise, your revenue and profits climb-and-climb-and-climb.

Fortune 500 companies live on recurring revenue; without recurring revs, their businesses becomes unpredictable -- bleeding marketing resources (making efficiency SUCK), and jeopardizing their futures.

What the EFFFFF?

Take a web design firm.

Now, that web design firm could try targeting a bunch of small businesses in its local area; but, what the suck happens?

That web design firm will have to restart its marketing after every customer win (i.e., Bob's Deli likely just needs to design its website once).

If, for example, that web design firm can't attract another customer next month, mother effin layoffs start to mother effin happen. Eff.

Who would be the more efficient target customers?

 

  • Larger web design firms with clients up the heeeeeezy.
  • PR firms.
  • IT headquarters at large companies.
  • Brand consultants.
  • Event planners.
  • SEO consultants.
  • Etc.

For instance, a PR firm would be like...hey, we need you to work on this client project; hey, we have another client that needs this; hey, we could use your expertise on this customer, etc, etc, etc.

That is, target those who will buy from your company over and over and over and over and over and over and over and over.

You'll start to build a sustainably strong business that will last for YEARS/DECADES/ETERNITIES.

Wooooohooooo 4 U. Woooooohooooo

Seek the recurring.

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Posted June 20 in Sales & Marketing |


How Business Success Happens

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  1. Say you roll out a marketing plan.
  2. It costs you $1000.
  3. You make $800.

You lose $200.

You tell yourself:

  • "Hey, I suck! I quit!"

Unbeknown to you, someone else decides to start the same business:

  1. Ali rolls out the same marketing plan as you.
  2. She offers the same items at the same prices.
  3. Ali too loses $200 on a $1000 investment.

But unlike you and 98534985934859038539 others who quit too early, she keeps going.

  1. "I'll negotiate with my suppliers to lower the costs by agreeing to buy in bulk."
  2. "I'll also pitch more add-on services to the customers."
  3. "In addition to my basic offering, I'll offer more premium choices to increase margins."

"Every tiny thing improve the chances that my business will succeed," she tells herself.

BAM!

In the next campaign, things start to get better:

  • "I made $100 on a $1000K investment!"
  • "Not bad!"
  • "I can do even better!"

With the constant mindset to improve, she starts:

  • renegotiating with her suppliers even more
  • purchasing even more items in bulk
  • doing X, Y, and Z more efficiently now that she's smarter about them
  • targeting certain demographics more
  • starting a customer newsletter to keep her customers in touch of her deals

BAM!

  • "$400 on a $2000K investment."

"BUT WAIT! I can do even better!" she screams.

She continues improving/improving/improving/improving, skyrocketing her business to freeeeeeeeeeeeeaaaaaaaaaaaakish success.

Leading Fortune 500 companies (e.g. P&G, McDonald's, Google, etc.) don't measure their successes on revolutionary ideas/products/inventions; instead, earnings improvement over previous quarters = WIN.

Keep improving.

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Posted May 25 in Starting It, Finance, Sales & Marketing |


How To Find a Good Lawyer

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A good lawyer:

  • someone who's passionate about the law
  • reads cases in his/her free time
  • can rattle off a bunch of cases in front of you subconsciously

(cases: court summaries; "BobIWantToSue vs. ChipDontSueMe")

While the competing lawyer sips his Margaritas in some Caribbean Tropical because s/he can't stand law and haven't cared for cases since Law School, your lawyer is reading a freakish number of cases because s/he finds joy in law and fighting for clients -- and possibly, striving to be the most knowledgeable lawyer in your industry/city/state/etc.

Basic rule:

  • The more case knowledge, the better your lawyer.

Someone (or firm) who can, for instance, cite a string of cases will likelier find more holes in the plaintiff/defendant's arguments, paving the way for you to achieve/keep what's legally yours/your-company's.

Common law WIN.

Cases. Passion.

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Posted May 21 in Management |


How to Win Any Customer

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You're selling to Bob.

But, Bob's like:

  • OH NO I DON'T NEED YOUR SERVICES OH NO

So then, you cry and go home, without closing any business -- and losing any future with Bob as your customer.

How do you win customers?

If you can't sell to a customer, try this:

  • a) Offer more services/goodies/etc.
  • b) Lower your prices.

Repeat (a) and/or (b) until you win over the customer.

(And, the lifetime value of that customer still makes the deal profitable).

WIN4EVA

The Example

You return to Bob:

  • You: I'll add X and Y to the deal.
  • Bob: Sorry.
  • You: I'll lower the prices to 20%.
  • Bob: Sorry, I can't do it.
  • You: In addition to X and Y, and lowering your price to 20%, I'll also add A, B, C, D, E to the deal.
  • Bob: O RLY? OMG OMG OMG LETS DO IT OMG OMG OMG

Win.

What if you can't make a profitable deal?

Try the relatively inexpensive ways to add more value to your customer's life:

  • Send weekly tips/articles/etc.
  • Provide a bunch of free consultations.
  • Send referrals to their business.
  • Free trainings like a freak.
  • Newsletters filled with best practices.
  • etc., etc., etc.

Keep adding more value to the customer's deal you achieve a profitable win.

Your goal is to find the right price for your goods/services, making the customer's deal a WIN/WIN for the both of you.

You'll open more doors. You'll sell more stuff. You'll increase bottom line. You'll provide more value to your customers life/business/world.

WIN/WIN/WIN

HI FIVE

More value.

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Posted May 20 in Sales & Marketing |


How to Delegate Your Tasks

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  • You have 949748373848 tasks.
  • "I can't delegate!" you tell your bad self.

You reason:

  • I can do this much cheaper!
  • I can do this much better!

So, you take forever-and-forever-and-forever-and-forever to  work through your tasks; before you know it, you get too old and die.

BOO.

What to Delegate?

Newton's Law of Motion. The toughest part in completing tasks is starting on those tasks.

Once you have Version 0.1, Version 0.2 gets easier to complete; Version 0.3 gets even easier; etc.

The method:

  1. List your tasks.
  2. Delegate the list.
  3. Get Version 0.1 of every task on the list DONE.

Sure, the Version 0.1s might suck if you don't have the $ to hire rock stars, but you'll have a string of Version 0.1s done, which you can then improve/improve/improve/improve, and over time, make them less-suck-less-suck-less-suck.

Delegating the completion of Version 0.1s helps you remove the psychological barriers that prevent you from starting on your long list of tasks.

Before you know it, BAM: SO MANY THINGS DONE HI FIVE.

WIN

Version 0.1s.

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Posted April 19 in |


How to Focus on the Right Things

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  1. See a bear attack on TV.
  2. Go camping.
  3. You instantly fear a bear attack.

When you're reminded of X, you focus on X -- despite the probabilities of X actually happening.

So, instead of focusing on what could likelier kill you (e.g., hypothermia), you start focusing on what probably won't kill you (i.e., a bear attack); so, you bring a bear trapper net to fend off bears instead of warm gear to prevent hypothermia -- SO YOU DIE OH NOES.

Behavioral economists call it the availability-heuristic

The more you see X, the more X becomes important -- even if Y or Z is really more important.

If your team's leaders talk about models and bottles daily instead of servicing customer customers TO THE MAX, the team subconciously starts believing models and bottles are more important than serving customers.

  • BAM! Customer service then starts sucking.
  • Your company tumbles.
  • Suck.

Get focus by emphasizing the right things each-and-every-day. WIN.

Emphasize.

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Posted April 12 in |


How to Make Company Decisions

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You're planning a trip with friends. What do you do?

  1. Send a group email: "Hey Y'ALL! What do y'all want to do this year? Let's do something fun like last year! OH YEAH! OMG OMG OMG"
  2. Take suggestions.
  3. Decide as a group where to go this year.

If you prefer a different destination, you give your input.

What happens when you vote for the spot?

BAM: Everyone likes/is-committed-to the destination; everyone goes; everyone has a fun time with everybody else.

  • One, united, common, agreed-upon decision.

No politics.

Everything out in the open.

It's how Google decides company decisions. It's how McKinsey does it.

Everyone has a say.

What traditionally happens in companies?

  1. Executives decide on X.
  2. Executives drag along everybody else to X. (It's akin to a few friends deciding on a vacation spot for the entire group before getting any input, reserving tickets, charging airfare, and expecting everyone to come along merrily.)
  3. People become angry; politics arise; morale drops.

Because Billy Bob secretly prefers a different destination based on his front-line experiences dealing with his customers, he's not fully-committed to the executives strategies -- so his productivity drops.

You lose your ability to serve your customers to your company's fullest potential.

Another competitor, united among its peeps, comes along, takes your market share, and puts you into mediocrity.

YOU LOSE OH NO

Making important company decisions?

Group.

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Posted April 09 in |


How To Overcome Fear of Failure

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You have to complete a big project.

  1. You're scared.
  2. Fear causes you to procrastine.
  3. You become productively SUCK.

How do you overcome your fear?

Instead of seeing the project as some life-threatening freakish event that will happen to your life if you don't successfully complete it, try this:

  • Instead of focusing on building the project to make your clients/superiors/audience happy, imagine as if your building the project for your friends/family.

The project immediately becomes less threatening; you start to remove fear and self-doubt, and the work becomes fun/manageable/efficient because you're not draining your energy reserves due to high heart rates caused from stress.

  • I will write a paper that excites my friends.
  • I will complete a design that impresses my family.
  • I will enthrall my friends/family with this projecct.

Eliminate fear. Remove self-doubt. Crush procrastination.

Become more productive.

Friends/family.

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Posted April 02 in |


How to Build A Better Business Culture

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Peeps put themselves into groups:

  • The jocks.
  • The nerds.
  • The goths.
  • The yaddas.

When you're part of one group, you think of your group as being soooo freeeaaakishly much better than the other groups.

So, you talk about them  -- how you dislike their ways of doing things, how they talk, how they behave, how frickin ignorant they are.

Typical Business X

Take a typical business.

  • Officers get sweet corner offices.
  • Low-rung employees get shoddy benches.
  • Salespeople get better food.
  • IT team gets bread.

People start separating themselves into groups, increasing rivalry, closing communication, increasing HATER-ATION, and disrupting a cohesive and united business culture that could've changed the %+#@$ world -- but are now resorting to office politics.

How do you get a better business culture?

One way:

  • Increase motherkuffin communication among everybody.
  • If that means playing fun office games with everybody (like chair racing), play some games. Woooohoooo!
  • Break down barriers among positions/roles.
  • Have executives work in cubicles like everyone else.

Ensure that every member of your entire business is equally valued/cherished, and are part of one united team that's out to fight the world for your customers.

  • The more people feel as part of Group X, the more people associate themselves to Group X.

Make Group X your entire company.

WIN4EVERYBODY

In-group.

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Posted March 30 in |


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