This Annoying Noise Convinced Me That Disruption Begins at the Bottom

Find points of friction for your customers and your employees to inspire innovation and disrupt your industry. May 22, 2019 5 min read Opinions expressed by Entrepreneur contributors are their own. We live in an age where the only question about disruption is which industry is up next. From banking to health care to something as pedestrian as shaving your face, startups have long been on the receiving end of what feels like unlimited investments from venture capital in the hopes they become the next big driver of change. And the winners of this sprint all have one thing in common. They didn’t just build a better product by chance. They did it by listening to the right people: those at the bottom. It may sound counterintuitive, but while getting buy-in from C-level executives and decision makers is an important part of any disruptive company’s path to success, those meetings […]

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6 Ways to Identify Profitable Products and Make Money With Your Online Store

Here are some powerful tactics to build and grow a successful online shopping business. May 17, 2019 5 min read Opinions expressed by Entrepreneur contributors are their own. Though running your own ecommerce business can be an exciting entrepreneurial adventure, there is no denying that many online stores fail to make any kind of profit. After only a short time, they are out of business, closed up for good. While there are many factors that can cause an ecommerce store to fail, one of the biggest problems entrepreneurs face is the inability to recognize and leverage a profitable product niche. However, by conducting a thorough analysis of the current marketplace, you can find an area where you can make a lasting impression. 1. Solve a meaningful problem. As with any other business idea, a successful ecommerce product can get its beginnings when you try to solve an actual, meaningful problem. […]

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7 Bulletproof Strategies to Increase Sales and Make More Money

Use these sales strategies to fuel exponential growth for your business. May 15, 2019 11 min read Opinions expressed by Entrepreneur contributors are their own. Sales. It’s the lifeblood of a business. The proverbial heartbeat of an organization. Without it? A business would cease to exist. With it? Endless opportunities await for expansion and world domination. But try as they might, most business owners struggle with sales. Entrepreneurs around the world grapple with the inability to make more money. The truth? It’s not easy. Especially when you don’t understand the mechanics of what it takes to increase sales in any business.  So why is this so complex? Why is it a problem that’s plagued business owners since the dawn of time? Today, in the so-called digital age, the struggle is most certainly real. Is it for lack of information? Certainly not. There’s plenty of information out there. In fact, there’s so much information […]

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Four Friends Started a Business and Sold It to Apple for $400 Million. Here’s How.

The co-founder of Shazam talks about starting a business that is personally and financially fulfilling. May 7, 2019 6 min read Opinions expressed by Entrepreneur contributors are their own. I had the pleasure of catching up with Dhiraj Mukherjee, the co-founder of Shazam, an app that has been downloaded over a billion times and tells you what song is playing in the background. Users just hit the button, let it listen and “Shazam!” — turns out you’re enjoying a cheesy David Guetta co-lab you normally wouldn’t admit to liking. Apple loved this technology so much they had to have it and in late 2018 they acquired Shazam for a whopping $400 million and integrated it with their digital assistant Siri.    So how did this business get started? Shazam began as a crazy idea between friends in 1999. At the time, the technology that makes it work didn’t exist, the digital library of […]

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Successful People Often Share These 2 Traits

A good leader recognizes the importance of pace and intensity. April 25, 2019 2 min read Opinions expressed by Entrepreneur contributors are their own. In this video, Entrepreneur Network partner Mike Phillips explains two key leadership behaviors: pace and intensity. Phillips points out that successful people often have high energy and move quickly. They’re often intense, and Phillips recommends a few tips that can improve the pace and intensity in your life. In business, working on yourself is integral to getting better in your business. Start by gaining knowledge and confidence in your abilities. Then, focus on training your employees.  Click the video to hear more. Related: Are You Properly Focused on Your Goals? Watch more videos on Lead the Team’s YouTube Channel. 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 digital […]

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How to Use Google Reviews to Increase Customers and Sales

Strategies to ramp up your SEO to produce more foot traffic and site visits. April 25, 2019 5 min read Opinions expressed by Entrepreneur contributors are their own. When someone wants to learn more about a business or find a product, their first step is usually a Google search. That’s why getting your store to show up in Google search results should be a top priority for any business owner, especially those with brick and mortar stores. Marketing data accumulated by Hubspot reveals that 28 percent of searches for products “nearby” or “near me” lead directly to a purchase. An incredible 72 percent of local searches result in a consumer visiting a store within five miles of their location. As such, improving local SEO so your business shows up in these searches will have a significant impact on your bottom line. One of the best ways to improve your SEO (especially locally) […]

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3 Ways To Put Your Customers’ Needs First — And Increase Your Profits in the Process

How to build a brand that thrives when customers succeed. April 12, 2019 6 min read Opinions expressed by Entrepreneur contributors are their own. When my company fails to make a sale I feel sick to my stomach, but not for the reasons you might think. No, I’m not some greedy businessman, nor some scammy internet marketer living in my parents’ basement. My squirrelly stomach happens because our company, The Feel Good Lab, is centered on helping people. And when they don’t buy, I know that we’ve done them a disservice. We haven’t met their goals. For modern brands to survive they need to be built around customer goals. Everything else must come second.   Below are three steps we took to build our company with customers at the center. Plus, the surprising outcomes of doing so. Step 1: Bridge the gap between “before” and “after.” Think about your customers and ask yourself […]

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‘I Sold My Company and Owe More in Taxes Than I Actually Made!’

Here’s how to avoid this entrepreneur’s nightmare. April 5, 2019 5 min read Opinions expressed by Entrepreneur contributors are their own. Imagine selling your company and owing more money than you actually got paid. While it might sound ridiculous, I’ve seen it happen. I’m a lawyer and an accountant, but in this particular case, another lawyer did the paperwork for the deal. When they came to me to complete the tax return, I had to break the news to the business owners that, because they’d failed to plan, they would have to pay more money than they were receiving to sell their own company. And not just a little more — nearly four times more. A purchase letter of intent, especially an unexpected one, can be a thrilling moment for any entrepreneur. This is what you’ve been waiting for, right? But too many business owners trip over their own feet running […]

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3 Alternative Ways to Exit Your Business for $500K — $5 Million

Navigate a successful — and realistic — exit with these approaches. April 4, 2019 4 min read Opinions expressed by Entrepreneur contributors are their own. We all hear about the entrepreneurs who exited their company for life-changing sums of money. Go and talk to your local high-net-worth wealth advisor and you’ll discover that many of their clients made their fortune when their company was acquired. Those are great stories, sure, but the reality for most businesses is that you can’t sell them for one big lump of money, especially if they are worth between $500,000 and $5 million. For starters, other entrepreneurs will not buy your business for over $500,000. Entrepreneurs typically believe they can compete with you and rather than spending half a million or more to buy your business, they’d rather spend it on creating a competitive product or growing their own business. Additionally, entrepreneurs are rarely cashed up; […]

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5 Customer Service Rules to Boost Your Profit by 18 Percent

March 28, 2019 6 min read Opinions expressed by Entrepreneur contributors are their own. By 2020 customer service and experience will overtake price as the essential brand differentiator. Eighty-six percent of buyers are willing to pay more for excellent customer experience. Customers will spend 13 to 18 percent more for excellent customer service. Here are five rules to set yourself to take full advantage of this trend. 1. Never make your problems the customer’s problems. Recently, at a large grocery chain, I had a very frustrating experience. I attempted to use the self check-out express lanes to purchase three products. I was not able to do this because I did not have a store card. After finally being able to buy my items, I emailed the corporate store. I got a response the next day that said that cards were now required and this was a new policy due to a […]

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How to Run Two Businesses at the Same Time

It is possible to be a ‘parallel’ entrepreneur with multiple companies. October 12, 2018 5 min read Opinions expressed by Entrepreneur contributors are their own. America is brimming with entrepreneurial spirit. Millions of people nationwide have taken the plunge to launch their own companies, some successfully and others less so. As famed billionaire entrepreneur Richard Branson once said, “Our ability to come up with ideas is a blessing and a curse. It’s great that we’re constantly inspired and optimistic, but it can sometimes be hard to focus on one idea for long enough to turn it into a successful business.” Related: 5 Success Tips for the Serial Entrepreneur Entering a New Industry When launching any kind of company, three elements are essential: a viable idea for a product or service, the ability to execute development and distribution and the capital to sustain the business until it sustains itself. I think of myself […]

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