1. 36% - Build Something Nobody Wants
2. 18% - Hire Poorly
3. 13% Lack of Focus
4. 12% - Fail to execute sales and marketing
Wednesday, December 30, 2015
Sunday, December 27, 2015
A Unicorn is a technology start-up valued at more than $1 billion. They are those elusive animal that all venture capitalists and investors are seeking.
Their are hundreds of these Unicorns
Well known - Uber, Pinterest, Google, Facebook and Airbnb
but also unknowns such as
- social media for creatives - Redbubble
- business-software start-up - Apttus
- the cloud identity-management company Okta.
- referral system - Referron
- social media and data analytics - Keynected
These Unicorns have the opportunity to tap a larger market of connected customers than ever.
The reality is that most startups are living in a fantasy world , with massive valuations - not yet turning a profit - and will be destroyed by the tech bubble.
Most of these founders and investors are disconnected from reality, conjuring numbers out of thin air.
|Will your unicorn be revealed as nothing more than a donkey with a cardboard tube taped to its forehead?|
"Are you the one" - there can be only one!"
Since time immemorial man has been searching for their elusive unicorn - with entrepreneurs selling their magical unicorn powder - promising their customers special powers.
Does your unicorn actually perform a powerful sort of alchemy, transforming us into better people, thus justifying the heady valuations?
Is your Unicorn a victor, stepping up to the epic struggle to change the world, soaring to unimaginable heights, becoming not just a successful company but a legend . - leaving "generational legacies "?
Inspired by Adrian Chen is a New York-based writer whose work has appeared in Wired, New York magazine and The New York Times.
Friday, December 25, 2015
Thursday, December 24, 2015
Friday, December 18, 2015
1. Be Passionate
The biggest question any entrepreneur should ask themselves is: “Am I 100 per cent in or 100 per cent out?” There is no middle ground for entrepreneurs. I’ve never wanted “simple” or “easy”, because the challenge is what drives my hunger to learn more, do more and try more.
Focus on what you really want and don’t be afraid to ask for it. If you only ask for what you think is realistic or achievable, you limit your own potential.
#ifshecanican #smb #smallbusiness
(BFO from Jo Burston - rare birds )
2. Be determined
Set very clear goals. Growing your business, increasing sales and hiring new employees need SMaRT goals. Be determined !!! You can't be half in or half out.
Once you have make your goals - work to achieve them with 100% commitment!
3. Take action - don't be afraid to fail
Don't be afraid to make it happen - take action!
There are 3 types of people!
1. Who make it happen
2. Those who wished they made it happen
3. Those who looked around and said "what the fuck has just happenned!"
If the upside is greater than the downside - know this - don't be afraid to take risks- but make sure they are informed,calculated risks!
- understand that big challenges can result in big rewards
- failure from action is a major part of being a success! It is how you deal with failure that sets you apart! Some of the best ideas arise from the ashes of a shuttered business.
- Be prepared to "pivot" - be able to adapt and change direction quickly!
(Spreets sold to yahoo for $40m - and stemmed from a failed business called Booking Angel)
4. Chunk it
Break tasks down into bite size chunks!
How do you eat an elephant? One piece at a time!
5. Continual learning
-Invest in education and continual learning. Remember you are on a journey.
- Get mentors and coaches and
- continually educate yourself
- failing is part of a learning process
6. Build a great team
- Focus on what you are good at, and outsource the stuff!
- get a coach - hold you accountable and seating on right track
7. Cash Flow
- understand cash flow and where money is coming from and going to
- be sure to budget
- make sure there is more money coming in than going out - whether money in is for capital it sales!
Cash flow problems can ruin a business and a marriage!
8. Build strong valued relationships
- refer - see how you can add value to the other person - the law of reciprocation works!
- be trustworthy
being punctual is the most important habit for entrepreneurs. When tou are on time for a meeting, phone conference, or completing a deadline, it establishes trust and proves to partners, investors, and customers that you are someone they can deal with.
9. Sell - and be great at it
- you are always selling either
to investors, employees, customers, suppliers and stakeholders
- know that people don't like to be sold to - but like to buy!
10. Be customer focussed
- identify the pain - and provide a painkiller - not a vitamin!!!
- it's the customer that's important - not your product - its about them, not you!
click here to get the X Factor in your business
click here to get the X Factor in your business
Tuesday, December 15, 2015
Starting up is not for the faint hearted!!! Welcome to club fear and the roller coaster ride of your life! It's a 24/7 hustling experience
Friday, December 11, 2015
Zapier is now a fazillion dollar new age business - but was a startup that got rejected by Y combinator as a start up when it had a few users - but was accepted when it had 1000 users and their product was validated.
So the difference was we had traction, validation, and credibility. We weren’t just people with a nice idea, we we’re executing.
Wade Foster and his cofounder Bryan, freelanced a lot for small businesses. They would often ask us to do what he liked to call API grunt work. Things like, “We have a bunch of Paypal stuff and we need it in Quickbooks,” or “I have this big list of contacts I met at a trade show and I want them in Salesforce.”
They would build scripts and things to handle that for them. One day they found themselves saying “I think we can automate this. I think we can build an out-of-the-box tool that allows these small business owners to set these things up themselves without needing to know coding, engineering or anything like that."
If there is something that is repetitive - Zapier will automate it!!
Zapier doesn’t have a central office. Everyone works from homes, libraries, coffee shops, etc.
Working remotely is our culture.
That is who they are.
They use things like Slack, and have a tool that basically works like an internal blog, and we have Hackpad set up for lots of documentation.
A key behaviour at Zapier is that work is well-documented somewhere, so if a teammate wakes up halfway around the world, they know where to go to look for answers to things. In that way, we’re just as efficient—if not more so—working remotely than they would be in person. As a result, they're able to recruit people to work for us all over the world, and not limited to a local area.
They use Giphy and have Gifs all over the place, go on retreats twice a year, fun things to build camaraderie.
The people at Zapier get a lot of pride out of the work they do and want to do good work that gets used by a lot of people.
That’s attractive to them, and environment are created where folks can do really great work and have the excitement of seeing that work being used by millions of people.
Advice to entrepreneurs
Take action - Just pick something and do it - if it's wrong - you can change it and do it again .
Chunk it - how does one eat an elephant - one piece at a time - just do it!
"Take some action every day .... even if it’s small, find something you can check off a to-do list, and say “my company is better today than it was yesterday.” If you make that little bit of progress and you do that 365 days in a row, you’ll find that you’ve made an incredible amount of progress in a year."