21 Golden Rules of Entrepreneurship According to Jason Nazar

A big reason for starting this site was to show people that a business owner isn’t some special kind of person that has all the knowledge and tools at their disposal. Anyone can start a business, but not everyone can keep a business going if they aren’t committed to it and pushing themselves to work harder and learn more. While doing some research for an article I came across this great video by Jason Nazar CEO and Founder of DocStoc. Now the video doesn’t impart some great new answers that no one else has ever stated before, but what it does do is present the same ideas from a different angle.  He has a great “Joe Everyman” quality to him which felt allowed viewers to be reached in a way that doesn’t as if he talking down to them or trying to pitch a product. What you get is a great lecture in which he covers 21 rules that he learned on his journey.

The video runs an hour and thirty minutes so I took it upon myself to give you the condensed notes version for those that don’t have that time to spare. I do strongly recommend setting aside some time later on to watch this video posted below or on my recommended videos section. So here are the 21 Golden Rules of Entrepreneurship by Jason Nazar

I’ll See it When I Believe It

You have to envision what you want and you have to keep picturing it right down to the last detail. You hold on to that mental image until you believe it actually exists. You have to manifest it into reality

Perpetual Sense of Urgency

You feel you have something really important in your life that you must do.  That you are meant for greatness and every second you don’t act is time wasted in the clock that is you life. You don’t want to be wishing you had more time to do what you wanted in life.

The Only Variable You Can Control is Your Work Ethic

There can be several different outcomes and the only thing you truly have control over is the amount of work you have put in to try and direct those outcomes. Your hard shows in the end results of what ever you are working on. You should make mental contracts with people because they will force to complete these agreements in fear of looking like a failure.

The 5 Step Sales Processes

1) Gain Interest:

People love talking about themselves and their interests. If you are able to find those interests it will be easier to persuade them.

2) Establish Credibility:

Your professional and educational background are obviously what people will want to know first but it will be your honesty and sincerity that will give your credibility as a person.

3) Establish A Need:

 Listen to what a person has to say, ask them what it is that they want and then just reiterate it back to them. The trick isn’t to understand what they need but to make them feel you do. As they feel they have someone who really understands them, they become more open to suggestion. What you have to do is offer them a solution that can best match those needs. If you don’t have anything to match those needs it’s best to not force it.

4) Offer A Solution:

As they feel they have someone who really understands them, they become more open to suggestion. What you have to do is offer them a solution that can best match those needs. If you don’t have anything to match those needs it’s best to not force it.

5) Have A System For An Easy Transaction:

Have a system ready that lets you get started right away

All Effort Is Equal

The same effort it takes to do other tasks is the same effort that can be used to start a billion dollar business. You may need different skill sets or paths but the output of effort is the same.

You Don’t Have to have a Product to Sell a Product

Amazing entrepreneurs can describe a product that doesn’t exist and people will want it. You don’t need the physical product to sell the idea but you better go make it after you do.

Ten Questions to Consider When Starting A Business

1) What is your product and service?

Explain it to someone like they are a 5^th grader so they can tell someone else and it will make sense.

2) What is its unique value proposition?

What makes it better?

3) What is the market opportunity?

   1- What problem do you solve?

   2-How large is the market?

   3-How fast is the market growing?

   4-Who is your competition?

4) How do you make money?

What is the revenue model?

5) Who is the management team?

How are they uniquely qualified?

6) What is the strategy?

  1-What is the long term goal?

  2-What are the 3, 6, 9, & 12 month milestones?

7) How do you sale or market you product/service?

8) How much capital do you need/intend to raise?

What is the primary start up cost?

9) What are the projected financials for the company?

What is the projected income statement?

10) What is the preliminary valuation of the company?

How much would you sell a percentage of your company for?

Court Mentors

Take two hours of your week and ask people you would like to be like to be your mentor. They will take you under their wings and guide you in the right direction. Plus they will a personal investment in you to see that you do not let them and yourself down. Their knowledge and resources are vital to you starting your own company.

Most Important Question to Start: What is Your Why?

What is driving you? What is your passion? If you don’t have a big “why” if it’s not the thing that is driving you and pushing you forward, you will always use the “what” and the “how” as an excuse not to do it.

Great Entrepreneurs Sell Ether

You have the ability to sell a dream in such specific detail and color that it feels tangible. People will believe in you because they can see that it is what is driving you and that you will accomplish it. It is what will help people get equity or accept deferred payments in the start. You must in fuse it with certainty that others will believe in you.

Ideas Don’t matter/ Execution Does

The most driven individuals can take a horrible idea and make it a successful one just as the laziest individuals can take a brilliant idea and fail. The idea is only as great as your execution to present it to people and getting it done.

Speed and Momentum: The Power of Now

This is key! You are running against the wind, if you go slowly the wind will stop you. Most business do not succeed because they never get started in the first place. You have to have a sense of urgency

The Entrepreneurs Dilemma

Stay attached to the problem you are trying to solve but be flexible in the solution to solve the problem. 

Make Your Product Different and Better

Look at existing business that are doing well and making money. Ask yourself how you improve upon that business that is already successful.  Then you have to ask yourself, what would be your competitive advantage? What would make you stand apart from that other company?

Keep it Lean

Put something out there with bugs and all and see how people respond to it. By putting it out there you will actually see if there is a market for you product and service and their feedback help guide you in the right direction. If you spend too much time on it until you believe it is ready, you run the risk of offering something that no one cares for and all you have accomplished is wasting your time.

How Can You Start in Two Weeks & with a $1,000?

You have to think about how you would immediately start this company if you had to launch in two weeks and with only $1,000. You also need to think how you can immediately start charging to make so revenue and paying back investors. You need to get it in the hands of real users to get actual feedback.

First Sell Yourself

This is vital when you are trying to raise money to start. Angel investors are not investing in your business, they are investing in you. They are making a bet on you believing that you can do it. You are always selling yourself first and what you are going to accomplish.

Be Sincere and Exceed Expectations

You have to set expectations and then over deliver. A way to build credibility is to tell that you are going to do in a certain period of time; you then achieve it faster and with better results then what you told them. Getting them to see what you are working towards and the results you are yielding is a big meaningful achievement. So you have to achieve your goal faster and with better results and then you do it over and over again

1 0 Lessons Startups Can Learn From Superheroes

1) Superheroes never give up:

Like Batman, you have to keep pressing on the very last breath. Challenges are overcome by wholeheartedly committing to unrelenting persistence.

2) Superheroes always get the job done

There are no excuses if you don’t save the girl from the burning house. There are just results, not reason, you either save the day or you don’t. Grey area is for Kafka not comic heroes. 

 3) Superheroes are the best at what they do

Flash is the fastest and we all know it. If you are the back end developer, you are the best developer in the work and everyone on your team knows it. Let great talent excel in areas where their superpowers are most needed.

4) Superheroes are crystal clear on their purpose

Captain Marvel maybe a cheese ball, but he knows what he stands for. Startups die when they are not clear on their mission.

5) Superheroes are not flawless

Superheroes have flaws, every member of your team will also. The goal is not perfection; it’s the pursuit of perfection. 

 6) Superheroes don’t seek the glory but they will get it anyway 

 Don’t do it because you want the attention. If you do it right you will get it anyway. 

 7) Superheroes help others

Superheroes help others by solving problems. Start ups should be obsessed NOT with themselves, but with how they are going to help other people and solve their issues. 

 8) Superheroes can do it by themselves but are more powerful in teams.

 You always have to have each other’s back. It’s you vs. the world and bringing together your own team of superheroes, mutual respect, loyalty, and camaraderie of that team is vital.

9) Superheroes true strength comes from their character

No matter how super you think you are, your strength comes from your character not your talent. Be courageous, be respectful, be honorable, and be selfless.

10) Superheroes accomplish huge feats

The same effort it takes to start a lemonade stand or college club is the same effort it takes to   change the world. Your goal is not to build a product or get traffic…your goal is to accomplish the most amazing feat possible. Make the product, save the world.

The One Most Important Thing

Most of the stuff to do makes no difference in starting up a company. The most successful people wake up every morning and ask themselves one question every day. If I get the most important thing done today, this week, or month it is……..…then they spend 80% of the time doing that thing.

Certainty! You’ll See it When You Believe it

If you can envision it and infuse it with your own certainty and belief in self, it will become a reality.

Read More

Whose Needs Are You Serving?

Last night while channel surfing I stumbled upon a reality show that caught my attention. While the show obviously reeked of scripted television its premise is what intrigued me and kept me watching. The premise focuses on helping under performing establishments such as restaurants and hotels by getting to the root of the cause for this. The show makes these small businesses ask the questions, whose needs are really being served? Is the primary goal to serve the owner or the customer?

This episode focused on a married couple that owns and operates a bed and breakfast that was in danger of declaring bankruptcy. At the start we learn the property was actually the husband’s old elementary school which he purchased to convert into his dream bed and breakfast. As viewers got a tour of the Inn they couldn’t help but feel they are walking into someone’s outdated and unkempt home as opposed to a place of business. The décor of the entire establishment just screamed dated while owners pet dogs ran amuck throughout the Inn. The husband truly believed the look and pets actually added to the charm and unique feel of the establishment. Viewers were also treated to the Inn’s monthly dinner mystery theater in which the husband was of course the star of the production. When the host asked how much profit it was generating for them, the wife was quick to answer that it didn’t generate any as it more a show for her husband and his friends.  As the show progressed and more layers were peeled back, it became glaringly obvious to viewers that the husband was clearly more interested in reliving his past and acting out a childhood fantasy of merging his home and school into one. He was too busy playing in this environment he seem to lose focus on day to day business operations. It was no wonder why the business was in the bad financial shape it was in. The only effort the Inn made to generate new business was renovating the banquet hall for $50,000. The renovations ended up being a bad investment as the husband remodeled with a look that fit his personal taste instead of one more appealing to renters or guests. The husband essentially created an Inn that fit his own needs and comfort as opposed to a business establishment catering to its guests. Of course this is being a show about helping businesses, the Inn was given a new lease on life as it received an all expenses paid makeover from top to bottom and a few lesson on how not to run a business. 

 If only all business had a TV show or benefactor to save them from themselves such as the Bed and Breakfast. Unfortunately real life doesn’t work out that way for most business operating in the same manner. The scenario of the Inn mirrors many companies in various fields in which owners are more concerned with using the business as a way to serve their own personal needs. Often time owners are too concerned creating this environment that they envision in their head that they are not aware that they created a place that customers don’t care for. Have you ever walked into establishment in where the owners and employees dominated resources intended for customer use? Or have you ever walked into a business where you felt as a customer that your mere presence was an inconvenience to the staff? It can leave one wondering if these business owners ever considered customers when they were initially thinking of starting a business. Customers are not the only ones that suffer through the owner’s vision of how they operate their business. Often times employees are just as frustrated as customers dealing with owners that change things at a moment’s notice or incorporate procedure that only make sense to them.  Being a business owner gives you the freedom to create the work environment that you have envisioned but at the end of the day the purpose of business is to generate profit. That profit comes from the customers who’s needs and satisfaction have to come first above all else.

It is not only the self serving owner that can destroy a business; even those with the best of intentions that can be harmful to themselves. Another program I can across showcased a family owned and operated restaurant that was on the verge of closing. The owner decided to start her own restaurant after several years in the food industry in which she felt her and her co workers were treated poorly by management. She set out to create an establishment where employees were treated fairly and would be happy with their jobs. She believed that in doing so the employees would be more productive and better serve customers. While in theory that would work, what she created was something far from that. Almost immediately she hired her family and anyone looking for work and giving them as many hours as needed. She quickly lost control of the work environment as the freedom here staff were given would lead to chaos. The staff would clock in when they wanted and often times being playing on their cell phones instead of attending to customers. The host of the program had to look the owner in the eyes and tell her that vision was a failure because she never thought of it as a business. In her vision she was really just thinking of an ideal work environment for herself but failing to realize that alone wasn’t enough reason to start a business. 

People often fantasize what it would be like to be the boss and call the shots. In those fantasies they might picture what their office looks like, the products they would sell, or how they would treat staff and handle certain situations. What they often fail to think about is how all those things would affect customers and if that is even a business they would want to do business with. Ownership and title could always be transferred over to another party but a business will always need a customer/client to stay in operating. An owner often needs to take a step back and put themselves in the customer’s shoes.They need to see if the customer’s needs are being met and if not what changes need to be made so that they can. Only from a customer first based foundation can an owner have the freedom to incorporate what they envisioned in their business environment.

 -Sergio Esteban Bustamante (S.E.B.)

Read More

Leadership

It’s about noon when my boss walks over to my desk and asks me if I want to change my hours from 7:00am to 3:00pm to 3:00pm - 11:00pm. My response was a clear “no.” He retorted it would come with a title change and a pay raise, and I replied happily with a “YES!” He laughed and told me how he had finally gotten approval to promote me a promise he had made to me a little over a year ago when he first started. I had gotten the promotion and all the details of what I would be tasked with doing and all that was left was to figure out how I would lead and shape those who are to follow me. I sifted through my old sketchbooks and found my notes from my internship and reminded myself of what makes a great leader. I was glad I took great notes and now I can share those notes with you.

Principles: have principles that represent you.

• have MUTUAL RESPECT for others everyone has a job to do that affects the bottom line. Don’t disrespect what they do.
• Say hi to people you don’t know. A hi and a friendly smile can go a long way.
• Begin and end your emails with a salutation. I know email can sometimes make people feel like they’re shooting a quick text to a friend, but you are not, you are sending a formal letter electronically.
• Respect what others have accomplished. Do so, not because you don’t think you could have done it, but because they may not have thought they could do it.
• Never be afraid to say thank you and compliment others when they do a good job. Spread the love, don’t hog all the glory, it really is lonely at the top.
• Have pride in your work. I don’t like to brag but when I was promoted I had to change my mindset from thinking I was bragging to telling others I am now responsible for these duties, yes you can come to me for that.
• Do the best you can in everything you do. If you don’t someone else will and it’ll be too late to say “I could have done that too.”
• Have a strong work ethic. Take every opportunity to work more, eventually the company will value your work ethic and decide if it would be better to pay you more or have you go do what you do for another company.
• Have passion. Have passion for life, not just what you do.
• Believe in yourself, because if you don’t no one else will.

Leadership:

• A leader is only a leader if others will willing follow.
• Be accessible, accountable, and dependable. No one wants a boss who cuts tail and run when it hits the fan.
• Get up off your ass! Being the leader means working when people are and are not watching.
• Either you can lead life or life can lead you.
• To be a true leader you must be confident and honest, but also vulnerable and humble at times.
• Do your homework before the teacher assigns it. Try to predict your bosses next move and prepare for it.
• Observe everything around you. It all affects the bottom line. The employees shagging, the guy in the mailroom struggling to make ends meat it’s all cataclysmic so don’t get caught off guard.
• Obstacles present opportunities
• You don’t have to have the right answer, you just need to find the right answer. Google it!
• Seek council. We all need help from time to time.
• Build consensus. Getting people to agree with one another is an art in itself but once accomplished great things happen.
• Create pride.

Management:

• Culture is the most critical element of a company’s DNA
• If you’re going to be a leader, than lead! Leaders lead from the front not the back
• It’s not a party it’s teamwork!
• Give credit, don’t take credit. This isn’t college where you can get credit for letting the hard worker in your group do all the work. You are getting paid to contribute, don’t get fired for not doing so.
• Find the rhythm. Each culture shakes and moves to a beat find your company’s beat and dance to it.
• Break the rules and challenge those saying “we always do it this way.”
• No is a word for simple people. I prefer to think “how can I...?”

I hope these few bullet point ideas help a few people out there breaking into a new field or like myself starting the path of leadership in commanding others. I’d like to thank Mark Taylor, Josilin Torrano, and Ashley Morley my internship leaders at the time who gave me these tools that continue to help me move forward in my chosen career.

Live, Life, Lavishly
Dlothemartian

You can follow Dlothemartian at twitter and on dlothemartian.com

Read More

Digital Business Card Applications

It was only a matter of time that one of business most basic tool finally entered the digital technology age. Online websites and mobile applications are ushering a new era for the modern day business card that is no longer limited to a paper form that needs to be handed to an individual to circulate or forgotten in a junk drawer. These applications neatly organize your business cards into digital folder that can be accessed with a few taps on the screen.. Business owners and Entrepreneurs now have the tools to create their own business card without being subjected to the requirements of card design companies and the ability to share them with ease. These cards also have an edge over the modern day cards since they are interactive and allow you to connect with the company or individual with a click of the button.

Mobile business card applications fall into two categories: Those that let scan business cards into digital formats to access from an online rolodex, and those that let you create and share contact information in a professional format wirelessly.  After testing of several of the top application, only two stood header and shoulders above the rest in these categories. 

YCard-Card Reader

Ycard is the most accurate business card reader currently on the iTunes market. The company’s motto is “if your name card is not scanning in 100% accurate then it’s not just good enough” and after several comparisons it’s hard to dispute. Of all the card readers tested this was the only one that with near perfection was able detect and input every category.  The beauty of Ycard is actually in its simplicity, as it broken into five easy to navigate sections; the camera scanner, the rolodex, cards waiting to be uploaded, card exchange, and settings.

Seven different business cards with unique styles and designs were scanned in. YCard was able to detect and differentiate between names of the companies, individual’s names, landlines, faxes, emails, addresses, websites, and then inputted additional information and contacts into the notes section. YCard took the scanned information including the photo of the card and uploaded it into its cloud system and then into the application rolodex section. From there it allowed us to create sub groups or categories to add the new contacts. Another great feature is that the application gave us a choice to add them into their phone contacts or leave them in rolodex. Even without adding them into your personal contacts, from the rolodex the user can contact the business/individual and get map directions by tapping the information. Ycard easily allows you to input or upload your own information and to exchange it with other users.

Of course no application came be without some short comings and YCard has a few. The things that make YCard the best application on the market are also its biggest problems. Though its beauty is its simplicity, some users may find the layout a bit too bland compared to other card reader designs. With it’s close to 100% you swear there is someone on the other end inputting the information and that feels like the case. It can take anywhere from an hour to twenty fours for YCard to upload your contacts so it’s best to scan them in as soon as you can. Another issue with YCard is that it does not allow user to add their new contacts into their LinkedIn account and thatis due to the fact that YCard has a sister application called YConnect that appears to be a LinkedIn competitor.

If you can over look those few hiccups then YCard should be the card reader of choice for anyone looking for the best accuracy and easy to navigate application.

(YCard-Card Reader is available in the ITunes app store and soon to be released for Android)

MY FACECARD

 Is the standard that other digital custom business card applications will be emulating for years to come. My Facecard allows users to create unique digital cards that can be shared wirelessly with other users or emailed to non users.

Most contact sharing applications have done away with business card look to focus more on information and putting into the gadgets contact list. Many individuals still prefer the old fashion and creative business cards, and My Facecard has given users the power to easily create a top of the line card. One of the First things that set the card apart from all others is the interactive contact and social media icons. When a user first inputs their information they are given a chance to add their Google+, twitter, Facebook, tumblr, blogger, LinkedIn, and chain linked icon which they can assign to any other social media site or personal website. These interactive buttons as well as three other for email, sms, and call, appear on the card and can be repositioned to the users liking. My Facecard allows users to choose from a few background templates but it really doesn’t need to. What makes My Facecard a dream for users is the fact that you can custom the background with any design or photo you would like. Users are only limited by their imagination and Photoshop abilities when it comes to the two sided card. My Facecard allows for font customization with 30 colors to choose from, 10 different font styles, and changeable font size.

My Facecard allows users to share their cards with each other by wireless phone “bumping” that become stored in an applications rolodex. A user can then access the cards from the rolodex and tap the interactive icons to take them to the social media sites or contact the business/individual. If that wasn’t already impressive enough, if and user decides to update their card, the card will automatically update in the rolodex of users they have shared the card with.

If My Facecard had anything for users to complain about, it would that it doesn’t recognize Facebook like pages. That is a Facebook issue that many IOS applications are having trouble with. 

(Currently only available in the ITunes app store)

YCard and My Facecard apps are currently FREE 

-Sergio Esteban Bustamante (S.E.B.)

Read More

Keywords: why you need them and how to use them

You would be surprised at how many business owners
fail to see the correlation  between keywords searched  in search engines online and how it can improve traffic to their business/website. Keywords are the driving force behind search engine results and how your audience, customers, or future employer will find you.

Here is an example of how keywords can link a future employee and a company. A young man, who we will call "Jon", submitted his résumé for a position with a large company.The company was underwhelmed with his résumé and Jon was informed that they would be passing on his résumé and continuing their search. Jon was of course disheartened by the news. He decided to go back to his résumé and LinkedIn profile to see which words he could change in an effort to help him stand out more in his respective field. Jon began searching for “keywords” commonly used in his field and then proceeded to edit his résumé and profile to include the new keywords. Imagine his surprise when a few days after the revision he received an offer for the same position in the same company who previously turned him down. His experience had not changed; the only change was the revision of keywords to his profile. It turns out; the company did a search on LinkedIn using words describing the skills and abilities needed for the position. The search engine brought up Jon’s newly revised profile as a fit for the “keywords” entered in the search.

Keywords do more than link future employee with employer. They help a business find their perspective client/consumer.  It is one of the easiest ways to obtain information on your perspective client. Keywords will help you predict shifts in markets, consumer motivation for buying and consumer niches found in every market.

If you are someone who is unsure of how keywords actually work, then this article is here to serve as an entry guide.

How keywords happen

In the picture above you will see a mock search engine site similar to Google, Bing, or Yahoo. The bold words in the link and link discription are the keywords. Both consumers and company websites use keywords for similar purposes; to find and to be found. For example, a search on Google's website for let's say, "iphone 3D cases" will yield 43,400,000 different results of company link descriptions. The results were directly triggered by the words inputted into the search engine and the descriptive words (keywords) the search engine found on a company’s website. 

How link rankings are determined 

Let’s go back up to the picture of the mock search engine. You will notice the link "Search Engine" is listed first while the link "Imagine files optimization for Search Engines & Site Visitors" is listed just below it. Even though both have the same keyword one is listed above another. This list order is a ranking system determined by "backlinks",links that lead back to your website, such as putting links on twitter or facebook. The number of backlinks is an indication of the popularity or importance of that website. Some search engines will give more credit to websites that have a greater number of quality backlinks, and consider those websites more relevant than others in their results pages. There are many tips and tricks out there to help you get higher positioning but that is another article for another time.

Best strategy for using keywords

There are numerous theories on the best strategies for using keywords. Some companies are inclined to choose keywords that generate the most results, while others prefer long tail marketing keywords; keywords that are less popular or describe something very specific.  As an example,If an individual types in “shoes” into a search engine they would get an endless results of links for all sorts of variety of shoes. If that individual were to type in "1992 dream team sneakers" they would generate much fewer results because they were looking very specific item. The theory behind long tail marketing is that people looking for very specific items are more likely to purchase that item, hire that service,or read that article .,Using keywords that yield fewer results could make it easier to standout from the top brands or companies that have a hold on the top rankings on some keywords. General consensus from analysts is to choose keywords that really capture what you are trying to showcase. I could go on and on about strategy implementation but once again it's another article for another time

Keyword helpers

So now that you know what a keyword is, let's focus on finding out the best keywords to suit your business, profile, or website. There are a lot of free and paid service sites that can help assist you to find which keywords generate the most searches,which ones get the least, and even  keywords your competitors use.Here are a list of sites:

Wordtracker

Google Tools

Google.com/insight/search/
Seobook.com
Raven tools
Market Samurai

Adding keyword description code to your site

Now that we know what keywords are and you've done your homework on which terms work best for you, let's add them to your website.Keyword descriptions can be added to your website through really simple HTML coding.When you edit your website in HTML 

find the following code by pressing CTRL+F and entering


 <b:include data='blog' name='all-head-content'/>

Now copy the following code and paste it after the code above


 

<meta content='your website description' name='description'/>

<meta content='your website keywords' name='keywords'/>

<meta content='admin name' name='author'/>   

The codes listed above are what are known as meta description tags or meta tags for short. These tags are a brief and concise summary of your page's content.  Now begin to edit these codes: input the description that best describes your website where it reads 'your website description' and the keywords that you would associate with your site in 'your website keywords'.If you are writing an article remember that your keyword terms that the labels, tags, and categories also are considered keywords along with the content and title. Avoid using abbreviations and nicknames as they don't capture the keyword. Google will use the first 20 to 25 words in your meta description in it's search engine so put some thought into that as well.

That wraps up this crash course introduction on keywords. I will be posting more articles in the future dealing with keyword strategy. Feel free to add some more information that others may find useful below

-Sergio Esteban Bustamante (S.E.B.)

Read More