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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Why Everyone Needs a Life Coach

Successful people have to grab progress by the horns. February 12, 2020 5 min read Opinions expressed by Entrepreneur contributors are their own. Whether ascending the corporate ladder or paving a path all your own as an entrepreneur, one fact remains true across the board: We all need a little support. Living your best personal and professional life requires intentional self-reflection and continual personal development. Even at our best, however, we all have blind spots that prevent us from seeing the whole picture of our lives and the thoughts, habits and behaviors that hinder our growth. The same is true of our friends and family. While loved ones may have the best intentions, they often lack the discernment to appropriately analyze and deliver actionable advice. So, who do we turn to for unbiased evaluation and expertise? Enter the life coach. Successful people don’t leave their progress up to chance — they grab […]

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Increase Employee Retention by Upping Your Leadership EQ

Emotional intelligence has become a buzzing topic for good reason. February 7, 2020 5 min read Opinions expressed by Entrepreneur contributors are their own. In recent years, emotional intelligence, or EQ, has become a common and popular topic among managers and leaders. As a consultant who trains companies of all sizes on leadership and soft skills, I can tell you that it is by far one of the most needed areas of development in today’s workplace, and especially among leadership. But what is EQ really, and why is it so important?  According to TalentSmart founder and Emotional Intelligence 2.0 author Travis Bradberry, “Emotional intelligence is the ability to manage ourselves and our relationships effectively” and it “is also an important indicator when it comes to performance prediction.” Current studies indicate that it affects “performance and success in areas including customer retention, increased sales, leadership, management and so many other facets.” With such noted impacts, managers […]

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My Employees Helped Me Build a Billion-Dollar Tech Company

Here’s an inside glimpse at our workplace culture. February 6, 2020 6 min read Opinions expressed by Entrepreneur contributors are their own. As far as backstory, the title really says it all. I’m extremely proud of the success I’ve had as an entrepreneur and CEO of KnowBe4, but I certainly never could have achieved that success on my own; it’s been a team effort from day one.  So how do you get the right people to stick around in the challenging environment of a startup and see the process through? The first thing to understand is that it’s not necessarily about money. A competitive salary and benefits package is useful in attracting good candidates, but less so in terms of retaining them. Who employees work with — and who they work for — rank much higher on the list of contributors to job satisfaction.  The interactions these people have, their mutual […]

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How to Fall in Love With Strategic Planning

Relevancy testing and a close eye on the competition can stimulate this essential process. February 6, 2020 4 min read Opinions expressed by Entrepreneur contributors are their own. Strategic planning is a polarizing term. For some people, it’s cringeworthy, conjuring up images of long meetings that are driven more by outdated process than by purpose. I’ve been there myself; I remember one particularly painful strategic-planning session that consisted of two days of irrelevant data analysis and concluded in a few documents that were never referenced again. With experiences like this, it’s easy to see why strategic planning gets a bad name — and why business leaders avoid it like a tax audit. But now is the worst time it to dodge it. How people travel, work, live, shop and communicate changes more frequently and significantly now than at any other point in modern history, and that means you don’t have five […]

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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 Remain Competitive in a Saturated Online Retail Market

Strategies for staying ahead amid a dizzying e-commerce landscape. February 5, 2020 5 min read Opinions expressed by Entrepreneur contributors are their own. Online retail has always been a crowded market, and thanks to the plethora of free website builders, it’s more competitive than ever before. If you’re entering a niche that already has a dozen entities fighting for dominance, you’re going to get lost in the white noise. And even if you don’t have much direct competition, there’s always the threat of generalized juggernauts like Amazon to worry about. So, what steps can you take to stay competitive in a saturated online retail market? Target a Distinct Niche Your best bet is to try to avoid competition by targeting a distinctive niche. There are thousands of online retailers focusing on clothing, but if you focus on a specific type of item, like wool coats, you’ll instantly narrow the field. […]

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How to Plan an Initial Sales Strategy That Hits the Ground Running

Mentorship and malleability are among the main tenets for strong results out the gate. February 3, 2020 4 min read Opinions expressed by Entrepreneur contributors are their own. Starting a business or launching a new product is both exciting and daunting, and many entrepreneurs feel a lack of clarity as to how to first create a sales strategy to hit the ground running with sales. After all, they never have opened it to a market before and seldom have all of the insights to know how it will perform. The creation of a sales strategy is a critical beginning step before the product ever becomes available. Sit down with your team months ahead of the launch date and work through the strategy. Planning can take longer than expected, especially when outsourcing or hiring help in the form of salespeople or advertising firms. Here are four tips to help you plan your […]

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The 3 Biggest Factors That Maximize Your Business’s Valuation

Why the right people, assets and revenue predictions will matter most to investors. January 30, 2020 3 min read Opinions expressed by Entrepreneur contributors are their own. Many entrepreneurs dream of selling their business one day for a life-changing sum of money. In the shorter term, they may want to raise money from investors and get the best possible valuation to reduce the amount they dilute their own ownership. There are dozens of way to calculate a credible valuation in theory, but ultimately the value of a business is determined by what the buyers and sellers agree on. Here are the three most dominant factors that influence what your business will be worth in the market.  Related: 5 Tips to Getting an Accurate Valuation 1. The revenue model The ultimate revenue model is an upfront purchase that covers costs and generates a profitable recurring revenue that continues indefinitely into the future. Prior […]

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3 Ways to Digitally Declutter

Save up to two hours a week with these simple tweaks. January 30, 2020 5 min read Opinions expressed by Entrepreneur contributors are their own. If it feels like you’re waiting around to get things done, you might actually be right. Technology that’s meant to make us more efficient can sometimes bog us down. A 2013 study found that participants spent an average of 16 minutes per day waiting for their computer to start up, and a McKinsey report found that employees spend nearly two hours of every workday searching for information. Add it up: That’s four entire days of life each year spent on looking for files. Americans now spend nearly half their lives in front of a screen, so you may not realize it at first, but each and every day there are pockets of time spent waiting that could instead be spent getting results. As a content […]

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How to Manage Multiple Companies at Once (And Still Feel On Top of It)

Key advice for serial entrepreneurs who find themselves working on multiple projects at a time. January 28, 2020 4 min read Opinions expressed by Entrepreneur contributors are their own. Although most entrepreneurs start with just one business, as they scale operations and build out a team, they’re often able to start other businesses, too. Inevitably, this is the ultimate form of multi-tasking and must be done tactfully with the right infrastructure within each company. Just ask Joshua Gould — with four portfolio companies on his plate, he learned how to master this intensive form of multitasking early. He is now the CEO of both The Big Word Group and a new company called TBW Global.  We sat down so I could better understand how exactly he manages all of them from a high level and how other entrepreneurs can walk in his footsteps and build their own empires.  1. Groom a qualified team member to […]

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‘I Never Thought It Could Happen to Me’ — How to Avoid Business Fraud

Pyramids, Ponzis and beyond; beware the things we don’t think about that can do us in. January 27, 2020 14 min read Opinions expressed by Entrepreneur contributors are their own. It began with a private note from a dear woman friend who was more than 70 years old and recovering from the most recent of several hospital stints. I checked in on her, as I often do. When she responded, she gave me shocking news I would have never suspected. She had invested $300,000 in a program to create authority websites through a friend and his family who we have both known and worked with at various levels since roughly 2014. “It’s awful,” she said. “Rapid growth, lack of communication. I invested $300,000, and it could all go down the drain.”  She suggested I write an article, not about the individual or company (plenty is being written by the traditional press). She wanted […]

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Quit Doing the Bare Minimum.

If you want satisfying rewards, you have to put in maximum effort. January 27, 2020 6 min read Opinions expressed by Entrepreneur contributors are their own. You wouldn’t want your mechanic doing the bare minimum required to make your family car safe to drive. You wouldn’t want your surgeon doing the bare minimum needed to keep your heart pumping. You wouldn’t want the chef at your favorite restaurant doing the bare minimum to ensure the food you’re eating is safe to consume. You expect people to go above and beyond. You want people to go the extra mile for you, in situations when your life depends on it and otherwise. You want to know that people care about their craft and care about you, right? I know I do. Yet, there’s a troubling trend in the workforce and entrepreneurship right now, and it all has to do with two things: effort and […]

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This Entrepreneur Pitfall is a Primal Impulse

We’re hardwired to conquer new territory, but many new entrepreneurs lose ground when they lose focus January 24, 2020 6 min read Opinions expressed by Entrepreneur contributors are their own. Here’s a lesson in longevity, so take notes. Grab the nearest pen from your desk, bag, or junk drawer. There’s a good chance it’s a Bic Cristal, the ubiquitous ballpoint launched in 1950 by Marcel Bich. Since then, BIC has sold over 100 billion worldwide. The product even has a place in the Museum of Modern Art’s permanent collection. Today, BIC is known for three product categories: stationery, lighters, and razors. But a look back at the company’s 70-year history offers a case study in the value of sustained focus, and the dangers of straying from the path.  For the first couple of decades after they introduced the Cristal, Bich and his team were the picture of patient focus. They waited another six years before launching the Bic […]

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The Top 10 Mistakes That Keep Women Entrepreneurs From Scaling to $1 Million

Though women own 40 percent of U.S. businesses, making ‘real money’ is oftentimes more the exception than the rule. Here are some things getting in our way. January 23, 2020 8 min read Opinions expressed by Entrepreneur contributors are their own. Where are the million-dollar women? In 2018, just 1.7 percent of women-owned businesses generated more than $1 million in revenue, and the challenges are even greater for women of color entrepreneurs. Why is it that even though women own 40 percent of all businesses in the U.S., making “real money” is more the exception than it is the rule? What’s getting in our way when it comes to business ideas that make bank?  As a scaling coach and founder of Million Dollar Women, I work with hundreds of women across the country who are scaling up, and I interviewed dozens of successful female CEOs who built multimillion-dollar businesses from scratch in my book. In my experience, […]

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Every Day in Business Should Be Treated Like Super Bowl Sunday

As the Niners and Chiefs ready to battle, there are lessons entrepreneurs can learn from their preparation. January 22, 2020 4 min read Opinions expressed by Entrepreneur contributors are their own. In a few weeks, folks across the nation will huddle around televisions, cheering and rooting as the San Francisco 49ers and Kansas City Chiefs take the field for Super Bowl LIV. The players will struggle to stay focused while fighting off nervous energy. For those few hours, all eyes will be on them. The game-day pressure will either challenge them to rely on skills they’ve practiced or force them to fold under pressure from mistakes and missteps. In the end, they will either overperform or underperform to their audience’s expectations. While you may not be a professional athlete, but the stakes are equally high when it comes to your career’s success. Every presentation you give is your own personal Super Bowl. […]

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How to Build Your Customer List and Get Your Business Off the Ground

Start now and grow your business with these tips. January 22, 2020 1 min read Opinions expressed by Entrepreneur contributors are their own. In this video, Entrepreneur Network partner Greg Rollet explains how to build your email list quickly, even when you are just beginning to build a business.  If you don’t already have a list of potential customers, you may still have an urge to spread your ideas and insights to help others. Focus on who most needs your message, because a business cannot exist without a strong demand from customers.  Click the video to hear more from Greg Rollett on building a customer email list. Related: How to Create Eye-Catching Content to Crush Your Competition 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 […]

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Why You Need to Pick Up the Phone to Close That Deal

It may seen counterintuitive, but in 2020, email won’t get it done. January 21, 2020 6 min read Opinions expressed by Entrepreneur contributors are their own. Anyone who has ever worked in sales or been an entrepreneur in the B2B space has had this feeling before: You just got off the phone after a great sales call. The prospect seems excited, they’re saying all the right things, you feel strong momentum, you finish your day still energized about this new possible opportunity and yet, somehow, the buyer doesn’t call you back. They stop responding to your emails, and suddenly the opportunity is dead. When a prospect goes silent or a hot sales lead turns cold, most sales people’s first inclination is to email the prospect to check in and ask for next steps. Put it in writing, right? Plus, email makes it easy to follow up multiple times and gives you a […]

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5 Can’t-Miss E-Commerce Personalization Ideas

It’s time to move beyond mere product recommendations. January 20, 2020 4 min read Opinions expressed by Entrepreneur contributors are their own. Personalization is nothing new in the world of e-commerce. Consumers are now expecting personalized shopping experiences from all online stores. In fact, according to a RedPoint Global survey conducted by The Harris Poll, more than half of consumers (63 percent) expect personalization as a standard. The only difference now is that they want more. While many e-commerce companies offer personalized product recommendations for their website visitors, you can go far beyond that to provide shoppers with a personalized experience from start to finish. Check out these five ideas.  Related: 12 Awesome Tips From E-Commerce Experts 1. Deliver personalized homepages.  Want to give your website visitors a personalized shopping experience from the moment they land? Try customizing your homepage for each unique user. Take a look at this example from […]

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Why Emotional Fundraising Is Bad for Your Business’s Health

Bespoke Investment Group co-founder Paul Hickey on how to stop the capital killers inside each of us. January 17, 2020 5 min read Opinions expressed by Entrepreneur contributors are their own. I recently had the opportunity to chat with a fantastic entrepreneur, Bespoke Investment Group and Bespoke Market Intel co-founder Paul Hickey, about his wealth of experience raising capital and making it work for him. In that process, Paul has also learned a lot about human emotions and their connection to business performance, which is why I want to share with you his story and advice — advice that will change the way you approach fundraising and emotional awareness altogether.  “I started my first company 25 years ago,” Hickey recalls. I threw $30,000 into it, and it started producing profits and positive cash flow the very first quarter we were in business. This continued for the next four years. Then, the […]

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