Connect with us
https://tpc.googlesyndication.com/pagead/imgad?id=CICAgKDriYHe3QEQARgBMgh47LykQhqW-w

Business

3 Ways to Empower Your Business Model to Succeed

Entrepreneur

Published

on

Women have come a long way in establishing their rights. They’ve struggled to break the barriers society has pushed on them and to break out of the old ways in which they have been personified.

In fact, women play a major role in all facets of business, politics and religion in our country today — and they have done so on the backs of perseverance and never giving up. It’s the tenacity of a few that changed the game for the masses, and if you are acquainted with one of these women, you should thank them.

Related: Why Women Entrepreneurs Are Game Changers

For this article, I talked with empowering businesswomen Amanda Boleyn, Jules Schroeder, Virginia Salas Kastilio and Laurence Bradford. These women will share the responsibility you have as a woman — and the encouragement you can receive as a man — building a business with what you have.

1. Overcoming failure in business.

Unconventional Life founder Jules Schroeder leads a movement to empower millennials to create a life by their own design through her international business accelerators. You learn from successful leaders who have left behind the 9-to-5 for a life they love.

While speaking with Schroeder, it was evident that failure doesn’t care what sex you are. For business owners who don’t understand the bigger picture of their company goals, failure can be more prominent. Especially when it comes to managing team members. But you can combat the issue. “If one of my team members consistently fails to follow through on their work commitments, I’ll meet with them 1 on 1,” Schroeder said. “I like to approach the conversation from a place of care and curiosity, where I seek to understand what’s going on in the broader picture of their life.”

Failure within your team can lead to lack of being personal or not sharing your vision with your members. Failure can happen in different areas of your business, and it is an idea in which you cannot fight. Schroeder says admitting that failure is simply part of the process to greatness.

When it comes to overcoming failure, Virginia Salas Kastilio understands it takes perspective. Kastilio is the founder of Gini TV which helps businesses build influence and online awareness. Kastilio has been named the top female Snapchat influencer in the world and has been showing her perspective to large organizations like the BBC and NASDAQ.

Every business and opportunity you are faced with comes with the experience you need to succeed for your next plan. Even if it didn’t work last time, Kastilio teaches in order to overcome failure, you need to gain perspective from the circumstance. In other words, failure should make you stronger. Failure is imminent in any business, but it’s always the people who learn about themselves whomake the most of overcoming the situation.

Brands that embrace failure and realize the process is a stepping stone and not a stumbling block are going to empower their future and solidify their business with their team and their audience.

If failure is included as part of the context — for any game that you’re playing or business you’re creating — then it becomes welcome, which allows it to not be so significant. Don’t fight failure, but welcome it through the new thoughts and ideas which can come from it.

2. Overcoming hurdles in business.

If you’re currently involved in building a business to create your perfect dream job, you have probably already faced some high hurdles. They can seem impossible to get over.

Laurence Bradford, creator of the Learn to Code With Me blog and podcast, is empowering men and women alike across social media — one of which is a special Facebook group of 12,000+ members. When I spoke with Bradford, she said one of the hardest hurdles to overcome in building your business is finding more time. You already know that time is the only thing you can’t control in your business or life. You can however, manage your time wisely. For some business owners, this idea eludes them completely, which is why a lot of founders lose faith and give up. Bradford suggests prioritizing what really matters for your business and taking control of tasks and responsibilities in this aspect.

Related: Learn Some Smart Time-Management Tricks From These Successful Women Entrepreneurs

Another hurdle in business can be the dreaded “self-doubt” thoughts which can come and go as your business advances and diminishes with the trends and economy. To empower yourself and create opportunities to jump over this obstacle, you always need to have a positive mindset within yourself.

This comes with having faith in your business, the product it offers and how you approach your clients. No one wants to be included with another person who is always down on themselves. Take some free time and read. Listen to encouraging podcasts from people who have been where you’ve been. Learn what others have done to succeed, and find how you can replicate this process by putting your own spin on the solution. Self-doubt can lead to a high hurdle, and you don’t want to jump that every day.

Lastly, Bradford suggests having a consistent feeling of being worth what you’re asking your customers and/or clients for. If you already know you’re work is essential to a specific niche and understand the price points in the market, don’t be afraid to ask for the money. This exhumes confidence in your brand and leans toward the self-doubt attribute. If you think you’re worth it, your customers will too.

3. Overcoming lack of action in business.

When it comes to building your successful business model there is an innate responsibility to want to be accepted in everything you try to do.

I spoke with Amanda Boleyn, founder of She Did It Her Way podcast. Boleyn’s sales training and empowerment influence has shifted mindsets and changed the behavior of more than 10,000 people in business. Boleyn has worked with top companies like AT&T, JPMorgan, Weight Watchers and Intel to help change strategy and influence employees.

“Women in business are more tapped into the possibilities of what could be and emotions that feel like fear and doubt,” she said. “While women may have this beautiful gift of insight, I believe we could allow it to talk ourselves out of taking action.”

The lack of action in your business can mean the difference between creating something which can help others and doing nothing. Emotional insight, while a great attribute to own, can either work for you or against you as you try to run your business.

Whether you’re a man or a woman, you have probably faced the dilemma of deciding on a risky step for your business. Humans are hardwired to take the path of least resistance, no matter what decision they’re faced with making. No one can understand the effects of taking action on a strategy which didn’t look like it was going to pan out, but after they completed it, they realized it revolutionized their business.

In a sense, you are working against your nature when it comes to taking risks. Risky decisions hold hands with failure and when one cannot measure success from the experience of another, it really comes down to their innate gut feeling and their power to make the hard choice anyway.

To empower your business model to succeed, you need to be taking action. These women aren’t advocating something foolish which would flush your business down the drain either. They are trying to share the facts of overcoming your own mind in order to execute what is already meant to be a successful business plan for your company.

Related: How to Succeed as a Female Leader Anywhere In the World

Think about all of the great companies — Microsoft, Apple, Virgin. All of these individuals stepped out on that thin ice and performed something out of their comfort zone. However, it wasn’t that they didn’t fail. As I said already, failure rides on the back of risk. You will never know until you try it, and that’s the idea.

Let’s not look at this article in terms of sex. If you’re a business owner, you’ve got to empower yourself before you can empower your business to succeed. In order to do this you must face the trials ahead with gusto and fervor, and learn to apply these three self-help tips to your business model.

A daily source of inspiration and information, Entrepreneur.com fuels the spectrum of game-changers that define what it means to be an entrepreneur today. That includes business leaders who launched something from nothing, content creators in the social influencer space, athletes pushing the boundaries of performance, and internal thought leaders innovating inside major corporations. Entrepreneur.com offers strategic insights and how-to guidance for the people that make things happen.

Advertisement

Business

Unilever Turns Up the Heat on Facebook & Google Over Tech’s ‘Unintended Consequences’

Social Media Week

Published

on

Business

photo

Unilever has issued a stern warning to digital platforms including Facebook, Google, and YouTube: do more to improve transparency and clean up the “swamp” of fake news, exploitative, and socially divisive content, or be cut off from its multi-billion dollar digital advertising budget.

CMO Keith Weed recently spoke at the Interactive Advertising Bureau’s annual leadership meeting held in Palm Desert, Calif. CNBC quotes him as saying, “We need to redefine what is responsible business in the digital age because for all of the good the tech companies are doing, there’s some unintended consequences that now need addressing.”

Two of the most important consequences being referred to include the threatening of safety of users, especially young children, and loss of trust by consumers and companies at large.

While it’s unlikely that Unilever will turn its back on the two largest digital platforms, Weed’s words matter because of the sheer amount of ad budget Unilever holds across its portfolio brands. MediaPost reports that in 2017, the company spent approximately $9.8 billion on marketing and advertising, a quarter of which went to digital.

Beyond the public denouncements, Unilever is also working with IBM to develop a blockchain with which the company can more effectively reduce ad fraud via a record of what media is purchased and how it is delivered.

A separate MediaPost article shares YouTube CEO Susan Wojcicki’s response to Weeds comments on Monday. In her own statement at Recode’s Code Media conference, she assured,
“We want to do the right set of things to build [Unilever’s] trust. They are building brands on YouTube, and we want to be sure that our brand is the right place to build their brand.”

Recent efforts we’ve seen in support of this include significant updates to its Creator Program policy. Further, in light of the recent Logan Paul controversy involving a video in which a suicide victim was filmed inside a Japanese forest, the company has suspended running ads on his channel, per Ad Age.

While brand safety is a concern on the minds of many marketers, Unilever’s public comments this week indicate that brands are viewing the issue with a much broader lens, and seriously questioning the role these platforms play in people’s everyday lives, beyond the world of advertising. In this important cultural moment, people are looking to brands and platforms to assume responsibility and be proactive to keep their spaces safe, trustworthy, and suitable for communities.

To further explore the overarching question of how technology, including digital platform giants, can be used to bring us closer together versus further apart, join us at SMWNYC April 24-27. Register today and save 20%.

Continue Reading

Business

Facebook’s Next Step in Building Community: $10M in Grants

Social Media Week

Published

on

Business

photo

Facebook has made several important announcements as of late the support its mission to create more “meaningful communities.” The latest? Investment in a newly announced Community Leadership program designed to support its community-building leaders through a variety of residency and fellowship opportunities that offer training, support, and funding.

Here’s how it will work: Facebook will name five “community leaders in residence” and provide up to $1 million each to fund their proposals, in addition to providing them with the opportunity to attend a customized leadership development training session.

Moreover, Facebook will select 100 individuals to join its fellowship program and receive up to $50,000 each for a “specific community initiative.” They’ll also participate in four in-person gatherings during which they will have the chance to meet and collaborate with other fellows.

Another key initiative in the works? Expanding Facebook’s “engineering team for community safety,” which is headquartered in London. In particular, the company hopes to double the number of employees focused on such efforts including detecting and stopping fake accounts, protecting people from harm (e.g harassment and scams), and making it easier to report content, by the end of 2018.

Further, Facebook outlined new tools for group admins, including page personalization options (e.g. color and the ability to pin announcements to the top of the page), the ability to create and share group rules; and more features to monitor Group Insights.

Outside of its Communities Summit, but along the theme of ensuring time on the platform is time well spent, the company also confirmed last week it was testing a downvote button that would allow users to provide feedback on comments in particular. The downvote button is being tested within a limited group of U.S. users for the time being.

This is not to be confused with a “dislike” button, but rather a more “lightweight way for people to provide a signal to Facebook that a comment is inappropriate, uncivil, or misleading”—this according to a Facebook spokesperson quoted in TechCrunch.

Here is what the button looks like in action:

Image via TechCrunch.

As the screenshot depicts, the user will have the ability to select whether the post was found to be “offensive,” “misleading,” or “off topic,” the choices aimed to help guide Facebook’s course of action with respect to the particular piece of feedback.

Forbes adds that, the downvote option in its test mode only applies to public posts as opposed to Group posts or the Pages of public figures. It also doesn’t affect the ranking of the post and the number of downvotes a post gets won’t be publicly shared.

These initiatives by Facebook to reverse some of the negative perceptions of its role in society come at a critical time as brands and citizens alike are putting more and more pressure on the world’s leading tech platforms to course-correct their products for the safety of their users. Just this week, Unilever threatened to yank ad dollars from Facebook and Google due to the company’s growing dissatisfaction with their overall impact on society.

“We cannot have an environment where our consumers don’t trust what they see online,” stated Unilever CMO, Keith Weed, to the BBC.

Learn about Facebook’s increasingly complex role in society by joining SMWNYC April 24-27. The conference will offer multiple sessions designed to explore where brands and platforms fit into tech’s future in our world. Register today to secure your pass.

Continue Reading

Business

5 Ways Cryptocurrency Can Help Entrepreneurs in 2018

Entrepreneur

Published

on

Cryptocurrency has revolutionized the way we transact value, invest our savings and raise capital with its decentralised digital cash system. Blockchain technology is a once-in-a-lifetime invention; never before in history have we been presented with such a breakthrough in financial technology. In 2018, entrepreneurs are well positioned to become early adopters of blockchain technology.

1. Raising capital

Cryptocurrency has disrupted the way early stage companies raise capital. With initial coin offerings, startups around the world can raise money quickly and cheaply from a wide pool of global investors. The valuation of a company is almost immediately reflected by the market, a process that has traditionally been challenging for early stage businesses. Shares are issued as tokens and tradable almost immediately, bringing large amounts of liquidity to the company.

Related: IPOs Are Boring But You Must Keep an Eye on These 9 Initial Coin Offerings

This new approach to raising capital has changed the world and enabled the best technical talent to build their companies at high speed. In 2014, a teenager from Canada called Vitalik Buterin raised money for his startup, Ethereum, through an initial coin offering. He wanted to improve on Bitcoin’s blockchain and create a platform for people to build unstoppable applications. With just a whitepaper and a vision, he was able to successfully raise $18 million for his new blockchain, which was valued at over $100 billion as of January 2018.

2. Transacting value

Cryptocurrency enables us to transact value between peers without a centralized authority. It provides a cheaper, faster and more efficient alternative to traditional payment networks. As a company, accepting cryptocurrency payments is becoming increasingly efficient, saving on fees and bringing faster settlement. Soon, startups will no longer need to go through the long process of setting up a business bank account to receive and distribute funds. In 2014, Overstock.com became the first retailer to accept bitcoin, receiving over 800 orders worth $126,000 in bitcoin in the first 22 hours. It has since amassed a $403,000 portfolio of cryptocurrency.

Related: 5 Essential Podcasts for Entrepreneurs Serious About Cryptocurrency

3. Investing for the future

For entrepreneurs, cryptocurrency may be the investment opportunity of a lifetime. Never before in history have retail investors had investment access to high growth early stage companies. Traditionally, venture capital funds and private angel investors have held monopolies on access to investment in the world’s best technical talent. Cryptocurrency provides a gateway for anyone in the world to invest in the world’s most exciting technology, allowing retail investors to own a basket of high growth companies. For example, through the decentralized method of blockchain investment, teenager Erik Finnman was able to invest in Bitcoin in 2011, becoming a Bitcoin millionaire at age 18. These types of investment stories would not be possible with traditional private venture capital fundraising.

Related: Why You Can’t Afford to Ignore Cryptocurrencies and Blockchain Anymore

4. Developing on the blockchain

The blockchain offers powerful infrastructure for companies to run their technology and create entirely new business models in a trusted way without a centralized authority. Blockchain technology is already revolutionizing the way startups create value. The Ethereum platform allows companies to build unstoppable blockchain applications quickly and for free. One example of a company leveraging the Ethereum blockchain is OmiseGO, a payments company that is using blockchain to provide banking services for the world’s 2 billion unbanked population. Blockchain technology is a cost-efficient way of building decentralized applications that can scale to a global population.

Related: 6 Cryptocurrencies You Should Know About (and None of Them Are Bitcoin)

5. Joining the blockchain community

The blockchain community offers access to some of the world’s best entrepreneurs, who are actively investing, advising and building upon the blockchain. Telegram, Facebook, WeChat, Slack and WhatsApp groups have proved popular in building communities of decentralized blockchain investors who can communicate with each other on a daily basis. Many large investments in early stage technology companies can be coordinated within minutes, a process that would traditionally take months in traditional venture capital. For example, in 2017, Brave’s Basic Attention Token sale sold out of its $35 million offering within 30 seconds. The blockchain community offers a strong sense of purpose with all members committed to a common goal of advancing blockchain technology to global adoption.

Related: How Digital Wallets and Mobile Payments Are Evolving and What It Means for You

Cryptocurrency provides a platform for entrepreneurs to raise capital quickly, cheaply and efficiently. Entrepreneurs can transact value through the blockchain at high speed with limited setup costs and invest in high growth technology companies at an early stage. Platforms like Ethereum allow entrepreneurs to build decentralized applications to a global audience for free. The blockchain community offers access to some of the top entrepreneurs, engineers and investors in the world and in 2018, cryptocurrency will continue to provide a viable means for entrepreneurs to create value in the world.

Continue Reading

Business

7 Ways to Get Recruiters and Job Offers to Come to You

Entrepreneur

Published

on

“You are your own brand, and you need to build that brand and promote it as much as possible. It is important that you start building your brand online, because this is where employers are going to be looking for potential employees,” suggests Dima Midon, an expert from TrafficBox. Use all of the online tools at your disposal, particularly LinkedIn, which is a professional network that allows you to really promote yourself as a professional, and someone who is an expert in your field. This is a great tool for job seekers. Make sure that you keep your profile up to date, especially when it comes to contact information, so when an employer searches you, they will be able to contact you if they are interested in learning more.

Continue Reading

Tags

Trending