3 Common Mistakes Companies Make With Their Social Ad Strategy

Social ads take amount of work, but done correctly they can significantly impact ROI. April 9, 2020 4 min read Opinions expressed by Entrepreneur contributors are their own. With 97 percent of digital consumers on some form of social media, you can’t afford not to invest in social ads. And with the latest forecasts predicting a 20 percent rise in social ad spending (up to $4.3 billion) in 2020, you also can’t afford to make mistakes on your social ad strategy. Just because everyone is jumping on the opportunity to advertise socially doesn’t mean it should be done hastily. First, acquaint yourself with strategies that will ensure your ad spend is successful.  One of the best ways to make sure your strategy is sound is to know what not to do. The following are the most common mistakes that companies make with their social ad strategy. Avoid them and you’ll see the ROI you’re looking for.  […]

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Digitization of Assets Is Altering Companies’ Competitive Advantages

And why frictionless payment methods have to become the norm. March 27, 2020 4 min read Opinions expressed by Entrepreneur contributors are their own. Convenience has a new name: frictionless. Consumers are favoring companies that provide streamlined online buying experiences. Think Amazon’s one-click purchase (perhaps the world’s most frictionless checkout process) and Facebook’s proposed Libra non-sovereign currency. Digital, social and ecommerce are ushering an age of electronification of products and currencies. Of course there’s political resistance to some of these fintech innovations — incumbents are using entrenched lobbyists to slow the pace of change. But companies want to mazimize customer satisfaction, which is the no. 1 priority for businesses from a sales standpoint, according to Salesforce’s annual State of Sales report. The digitization of tangible things includes fungible (e.g. gold) and non-fungible goods (e.g. artwork). The transformation of real assets to tokens is disrupting many sectors, including the $2 trillion global payments industry. This makes […]

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3 Strategies to Improve Your Customer Service Experience

Three tips that can help you retain and form relationships with your customers. March 13, 2020 4 min read Opinions expressed by Entrepreneur contributors are their own. Customer service is an area that small business owners can easily overlook when they’re trying to balance priorities. Aside from making sure their company is responsive to inquiries and helpful over the phone and chat, they’re often not focused on offering a truly remarkable customer service experience. But the importance can’t be understated. Common statistics tout that it’s actually around five times more expensive to attract a new customer than it is to retain a current one. Taking care of the customers you currently have is critical for your business’ bottom line.  Related: 10 Reasons Why Good Customer Service Is Your Most Important Metric So, even if you think your business is performing adequately in the customer service department, there’s likely room for improvement. According to […]

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How to Effectively Start a Side Hustle While You Have a Full-Time Job

Four steps you need to take before you quit your job to focus on a business full-time. March 5, 2020 4 min read Opinions expressed by Entrepreneur contributors are their own. Entrepreneurs seldom get their start by quitting their job then starting their company with all of their free time. It’s usually an ease-in: there’s a full time job or some way to make an income, and the business first begins as a side hustle. Yankee Candle, Under Armour and Apple are all companies that were first started as side projects. But, there is a common concern that the balance between a full time job and a side project will be hard. How should you allocate time, energy and attention to both? Will your boss get mad? When should you go all in? First things first: Here’s how to effectively start a side hustle alongside a full-time job.  1. Make your full-time […]

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4 Tips for Working With Your Spouse or Romantic Partner

Advice often tells you to keep work and romance separate, but there’s a way to make it work. February 28, 2020 4 min read Opinions expressed by Entrepreneur contributors are their own. It’s a common line of thinking to keep your work and personal lives separate. And yet, because a business partnership can be similar to a marriage, it makes sense that many spouses and romantic partners do work together on a company. Recently, a friend of mine told me they were curious about this dynamic. My wife and I have somewhat similar careers and both work from home, so in many ways, we work side by side daily.  Related: The Science Behind Working With Your Spouse Of course, a professional relationship between romantic partners comes down to the dynamic between two people. What works for some couples may not work for others, and no two couples are the same. However, […]

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How Fintech Startups Are Disrupting the Payments Industry

They’re forcing a large, entrenched ecosystem to adapt. February 21, 2020 4 min read Opinions expressed by Entrepreneur contributors are their own. Long in the past, transfers of value took place between royalty, merchants and commoners who all used gold, silver, cattle and other physical commodities to thrive and survive. That ended in 1971 when the U.S.. dollar and other world fiat systems fully detached from the gold standard and embraced floating exchange rates. Over the past 50 years, financial institutions built payment systems that are partially obsolescing in the wake of fintech disruptions like virtual currencies, distributed ledgers and decentralized protocols. Fintech entrepreneurs are more attuned with the high expectations of a younger, digital crowd who buy goods from around the world with a tap of a phone screen, and which can be delivered by Amazon in a few hours. Related: 3 Trends Happening to Fintech That You Should Know […]

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How to Make Your Product Truly Irresistible to Buyers

Three ways to overcome sales objections. February 14, 2020 6 min read Opinions expressed by Entrepreneur contributors are their own. We all dream of marketing a product with no resistance or objections whatsoever on sales calls. Imagine a potential client being thrilled by the chance to work with you or purchase your product, rather than meeting you with objections. Imagine having a truly irresistible product or service that closes the deal at higher rates than you’ve seen before. There’s a common misconception that irresistible is a term only reserved for cutting edge inventions or brand new innovations, but an irresistible product simply means that a customer or client can’t resist it.  I recently discussed this with Sabri Suby, who is the head of growth for marketing agency King Kong. His company specializes in helping companies get new customers, so we sat down to talk about the best ways to make your product irresistible […]

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How a 23-Year-Old Earned Over $20 Million in Ecommerce in Less Than One Year

Three ways to replicate Kevin Zhang’s success. February 12, 2020 4 min read Opinions expressed by Entrepreneur contributors are their own. Success in ecommerce is the fruit of a lot of blood, sweat and tears. While there may be many who make it appear as though anyone can get rich quick in this realm, that is certainly not the case. Competition is fierce. Time is a major factor. Technological difficulties and mishaps have a way of happening far too often at the worst possible times. For most entrepreneurs in ecommerce, success follows after years of trial and error across numerous fronts.  Yet for 23-year-old Kevin Zhang, the CEO of eCommerce organization Kreator eCommerce, success to the tune of over $20 million in sales, over 250,000 customers across 20 countries and an organization of over 60 team members worldwide came within the first year of operation. While he did indeed achieve the American Dream his […]

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What You Can Learn From This 21-Year-Old VC Who Started A $60 Million Fund

Yubo Ruan is sharing his advice to young entrepreneurs. February 5, 2020 7 min read Opinions expressed by Entrepreneur contributors are their own. One of the biggest challenges of being an entrepreneur at a young age is being taken seriously. Now more than ever it’s a great time to be a young disruptor in business, but it’s hard to subvert the bias of age equals experience. And Yubo Ruan, the 21-year-old founder and CEO of 8 Decimal Capital, a crypto-focused venture fund with $60 million under management, is no exception. Starting something young requires being resourceful. After all, with little experience or network, you have to make the most of what you have. And in Ruan’s case, this resourcefulness started from when he was just a kid hacking on some projects.  Related: How to Overcome the Struggles of Being a Young Entrepreneur To learn more about the mechanics of how he raised […]

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How to Think About the Future of Retail

As long as customers crave control and unique experiences, brick and mortar will never go away. January 30, 2020 4 min read Opinions expressed by Entrepreneur contributors are their own. Many believe that “retail is dead.” Now that you can order an avocado off Amazon and online shopping is far more convenient than hitting the local mall, people look at brick and mortar stores as a thing of the past. But how true is this statement, really? According to the U.S. Census Department, U.S. retail sales grew by 0.2 percent last year, and online sales grew by 11.5 percent. This is to be expected, simply because of the ease in ordering with the click of a computer mouse and the wide availability of options available. And, more deeply, with so many hours logged on social media and the rise of targeted ads, it’s easier to find what you didn’t even know […]

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4 Tips for Building Your Dream Network

January 13, 2020 5 min read Opinions expressed by Entrepreneur contributors are their own. When it comes to networking, these days it’s easy to get distracted by the sheer amount of tools available to us. From LinkedIn and Twitter to online forums and Facebook Groups, it can be overwhelming to figure out where to invest your time, energy and dollars. On top of that, the nature of networking shifts as the tech landscape changes—making each year different from the last. That being said, by following a few basic rules and being active within a couple key venues, you’ll be able to take your network to the next level. #1. Don’t discount the “human connection.” No matter how digital the world becomes, face-to-face interactions will never lose their value. Not only does meeting in person leave a more memorable imprint than a digital interaction, but it can also be more efficient. After all, not many people can type […]

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Why Personal Branding Is a Secret Weapon

Personal branding builds trust with customers and employees. December 30, 2019 4 min read Opinions expressed by Entrepreneur contributors are their own. Whenever you open Instagram, a slew of posts from “influencers” populate your feed. People’s names are in the headlines of articles, and the rise of the “famous entrepreneur” has begun. Personal branding is in, and it’s a secret weapon. It’s how people know who you are. Related: 3 Tips for Personal Branding on Social Media To understand personal branding, you must understand business branding. Effective business branding is why we don’t hesitate to purchase a new facial cleanser from our favorite skincare brand, whereas we hesitate to try a facial cleanser from a brand we’ve never heard of. We become defensive of brands. We’re either die-hard Apple or PC supporters or Coke or Pepsi drinkers. Personal brands connote the same type of loyalty. Here are a few reasons why personal branding is […]

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How a 33-Year-Old Entrepreneur Grew 4 Successful Media Brands

JAKK Media Managing Partner Kenny Kline shares the process behind his versatility and profitability. December 21, 2019 4 min read Opinions expressed by Entrepreneur contributors are their own. Because success in one industry doesn’t necessarily translate to success in another, it’s unusual when founders like JAKK Media’s Managing Partner Kenny Kline find it in four. His company is involved in running media brands in niches ranging from physical health to home security. Between all of its platforms, his company’s content reaches millions of people each month. To learn about how he and his team established their various footholds, I spoke with Kline to discuss his approach to business and what strategies he finds to be most useful in engaging users. Here are four principles that Kline has leveraged to make it all work. 1. Focus on sustainability. There’s no easy path to profitability — no shortcuts to the finish line. The best method of […]

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How to Create Multiple Revenue Streams For Your Business

As with anything, no entrepreneur should put all their income-generating eggs in one basket. December 13, 2019 4 min read Opinions expressed by Entrepreneur contributors are their own. The quickest route to becoming an entrepreneurial millionaire is not necessarily by making one product with a high-profit margin that flies off the shelves. WYou ideally should have multiple revenue streams in order to truly accumulate wealth.  Em Ducharme, founder of Zero to CEO, first started diversifying her income streams to cover various expenses. “I was able to be debt-free, able to save and invest in new income streams that were scalable and sustainable,” she explains. “Having multiple income streams removed the stress related to paying bills,and allowed me to focus on building longer-term avenues.”  In addition to making sure ancillary costs in your life or in your business expenses are covered, multiple revenue streams also work together to grow your bank account […]

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How a First-Time Entrepreneur Wooed Corporate Clients in Year One

Altru Labs CEO Alykhan Rehmatullah shares some of the secrets to his early success. November 19, 2019 6 min read Opinions expressed by Entrepreneur contributors are their own. When you’re a first-time founder, there are a lot of daunting challenges that you might find very difficult to overcome. In most of these scenarios, you often have little credibility among customers and investors. Why should a huge corporation trust you to handle a service need? Why should an investor put money in your company even though you have very little operational experience?  These were some of the most pressing questions that CEO Alykhan Rehmatullah asked himself when he started Altru Labs, a company that helps both large and small businesses create personal connections with would-be candidates by sharing authentic and engaging employee-created videos. As a former associate at Goldman Sachs, Rehmatullah had experience working at a wildly successful company, but of […]

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4 Ways to Close Sales with Non-Verbal Communication

Body language and facial expressions can be the ultimate negotiating weapons. October 31, 2019 5 min read Opinions expressed by Entrepreneur contributors are their own. When you’re practicing a sales pitch, you likely drill down on specific language. There’s much to say about your product or service’s value proposition, its competitive price and why your ideal customer needs to purchase it. But many are surprised to learn that, according to the research in the esteemed book Silent Messages by Albert Mehrabian, 55 percent of communication is non-verbal. Which means that your body language says more than your words — by a long shot. Another 38 percent of communication comes down to tone, which leaves a slim 7 percent for the substance of the words themselves. “Your words matter, of course,” shares James Bell, CEO of James S Bell P.C. “But the knowledge of what your body language is conveying presents an enormous opportunity. If you can apply […]

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3 Innovative Ways Mixed Reality Is Being Used by Big and Small Businesses

Virtual and augmented reality are rapidly becoming reliable tools for success. October 16, 2019 4 min read Opinions expressed by Entrepreneur contributors are their own. Though the idea of mixed reality, which includes virtual and augmented reality, has been around for a long time, it has only recently started picking up speed. The first proof of concept that augmented reality could revolutionize gaming was the popularization of Pokemon Go. Oculus further proved the thesis, showing that it could, in fact, take gaming far beyond the physical world with virtual reality. But the impact that mixed reality could have on the way we do business extends far beyond the confines of just gaming. In fact, the mixed reality is projected to be a $150 billion market by 2020. To learn more about the specific ways mixed reality could be an asset to traditionally non-technical companies, I chatted with Carlos Carbonell, founder […]

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Beyonce’s Official Website Got Sued — and Your’s Could Be Next

Five ways to make sure you have built a website that’s compliant with ADA standards. October 3, 2019 7 min read Opinions expressed by Entrepreneur contributors are their own. Beyonce is known for many things. She’s the former lead singer of Destiny’s Child, a multi-platinum recording artist, a music industry powerhouse and one of the most inspiring and successful black businesswomen in history. But you wouldn’t know any of this if you were a disabled person trying to access her website. So goes the rationale for a recent class-action lawsuit filed against Parkwood Entertainment, the company responsible for Beyonce.com, per a Pitchfork news report. The well-known recording artist is only the latest to come under fire in a string of lawsuits against high-profile websites. These lawsuits are all in regard to one thing: accessibility. Related: How Accessibility Can Make or Break Your Small Business Website. Here’s What to Avoid When Building […]

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4 Steps to Grow Your Agency to 7 Figures

September 21, 2019 4 min read Opinions expressed by Entrepreneur contributors are their own. So, you’ve started your agency and things are going well. You’ve brought on a few clients, perfected your service or services, and maybe you’re preparing to make your first hire. Now, you want to focus on scaling to seven figures and beyond. The good news is you’ve already done the hard work of creating a foundation and proving the value of your services. Subsequent growth just takes a few strategic tweaks. To kick your seven-figure scaling into gear, take the following steps into consideration: 1. Niche down.  Agencies are most likely to succeed and scale when they’re really good at one staple service. Find a way to hold yourself and your team accountable to your niche in the beginning stages. Joel Kaplan, founder of seven-figure marketing agency Atlas Digital, recently shared with me that niching down is something he and his co-founder […]

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4 Ways to Turn Cold LinkedIn Connections Into Clients (Without Being Sales-y or Spammy)

Try these tactics to turn LinkedIn into a client generator. September 13, 2019 5 min read Opinions expressed by Entrepreneur contributors are their own. With over 645 million global users (including over 150 million in the United States alone), LinkedIn has become one of the most important digital tools for making connections in the business world. While many use this to grow their network or to find new job opportunities, others are able to use it to grow their own client base. Just like with phone calls or email, a “cold” LinkedIn connection can help you land new clients — but only when done right. By using a few best practices to avoid coming off as spammy or overly sales-y, you can have better success at turning these potential connections into revenue-generating clients. 1. Use LinkedIn to research. According to information gathered by 99firms, LinkedIn has over 90 million senior-level influencers […]

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