Under30CEO » Startup Advice http://under30ceo.com Thu, 17 Apr 2014 20:18:17 +0000 en-US hourly 1 http://wordpress.org/?v=3.6 Under30CEO interviews successful young entrepreneurs to hear about their story and journey while starting their company. These young founders have over a million dollars a year in revenues and have been through many ups and downs to get there. These stories are meant to inspire, educate and motivate more young people to take a leap and do what they are passionate about. Under30CEO clean Under30CEO jared@under30ceo.com jared@under30ceo.com (Under30CEO) Under30CEO Interviews with Young Entrepreneurs on Starting Businesses entrepreneur, business, interview, young entrepreneur, business advice, startup advice, founder interview, ceo Under30CEO http://under30ceo.com/wp-content/uploads/2013/09/u30logo300x250.png http://under30ceo.com/category/entrepreneurship-2/startup-advice/ Tension: The Silent Epidemic That’s Killing Your Company http://under30ceo.com/tension-silent-epidemic-thats-killing-company/?utm_source=rss&utm_medium=rss&utm_campaign=tension-silent-epidemic-thats-killing-company http://under30ceo.com/tension-silent-epidemic-thats-killing-company/#comments Wed, 16 Apr 2014 15:00:54 +0000 GuestAuthor http://under30ceo.com/?p=38759 Did you hear the one about the stressed-out business executive who walked into the doctor’s office complaining about terrible nightmares? “It’s awful,” the exec tells his doctor. “Some nights, I imagine I’m a teepee facing incredibly strong winds, rain, and snow. I’m all alone on the edge of a cliff.” The exec continues, “Other times, […]

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tension

Did you hear the one about the stressed-out business executive who walked into the doctor’s office complaining about terrible nightmares?

“It’s awful,” the exec tells his doctor. “Some nights, I imagine I’m a teepee facing incredibly strong winds, rain, and snow. I’m all alone on the edge of a cliff.”

The exec continues, “Other times, I’m not a teepee, but a wigwam that’s about to get destroyed by a raging wildfire.” Then, he finally pleads, “I just don’t know what to do anymore, doc. Can you please help me?”

At this point, the doctor leans back and calmly replies, “The problem is that you need to learn how to relax. Clearly, you’re just two tents.”

Get it? No? Well, maybe you’re “too tense.”

But seriously, the problem of tension in the workplace has been around for generations, and it’s not going to disappear any time soon.

Any sociologist will tell you that when you gather a group of individuals together in the same place — each with their own beliefs, ambitions, talents, and insecurities — there’s bound to be some friction. Here are four common causes of workplace tension:

1. Timing Is Everything (Early Birds vs. Night Owls)

The time that co-workers spend in the office often becomes a source of animosity among employees. Here, perceptions become reality. Workers and managers who arrive before other employees and then leave right at 5 p.m. may be perceived as not pulling their weight. The same can be said for late workers who are seen as slackers for “coming in whenever they want.”

2. King of the Mountain (Co-worker vs. Co-worker)

Another common source of tension in organizations comes from power struggles between employees. These range from co-workers competing for the same promotion to those fighting for the opportunity to lead the same project to even those gunning for their boss’ job.

3. Who Gets the Credit? (Leadership vs. Team)

When employees feel like they’re not appreciated or recognized for contributing to the success of the company, their confidence in their own abilities often declines — while their distrust of management increases. Managers who routinely take credit for their teams’ successes often face difficulties motivating employees down the road. This self-serving management style can quickly destroy morale and lead to product or service quality issues.

4. The Battle of Us and Them (HR vs. Employees)

Although HR employees are generally perceived as the peacekeepers of an organization, they can sometimes be the root cause of a dysfunctional work environment. For example, tensions can rise if HR suddenly institutes cookie-cutter policies or changes procedures.

Is It Malice or Miscommunication?

In a very small number of cases, I encountered a corporate framework that was intentionally developed to create an atmosphere that encouraged internal competition, subtle and overt clashes, and ongoing confrontation between employees. These were generally hyper-aggressive, sales-driven businesses with high employee turnover and very little management support.

More often, tensions and feelings of mistrust fester and grow in organizations not as a result of some specific action or directive, but when company policies are ambiguous, outdated, or rarely enforced.

To establish a constructive working environment, business leaders and managers throughout the organization must provide a clear set of expectations for their employees. These should be consistent with the overall goals and objectives of the company.

Employees won’t follow the rules if they don’t understand them or if they feel like they’re counterproductive to achieving their own personal success.

Tension Is Everywhere — Deal With It

No matter the size or age of your company, the simple truth is that some amount of tension in the workplace is unavoidable.

We’re all human, and humans are far from perfect when working well with others. Look around: Do you see any of your employees singing, “I love you. You love me. We’re a happy family,” all day long? Probably not. And that’s OK.

The truth is that most companies can and do operate successfully somewhere in the middle.

Don’t Fight It — Direct It

The most important thing for managers and company executives to do is to first accept that tensions between employees will always be a part of an organization’s culture.

With this in mind, company leaders must be on the lookout for potential flashpoints within the organization and then take immediate action to diffuse those situations when they arise.

Moving forward, it’s important to create an atmosphere of trust and mutual respect by developing a progressive corporate structure. Establishing workflow, reporting processes, and channels of communication to limit the number of uncomfortable situations that occur in the first place is also an important step.

Forming, Storming, Norming, and Performing

A model that I have successfully used for many years to help enhance team performance in organizations is a process that psychologist Bruce Tuckman first penned in his 1965 article, “Developmental Sequence in Small Groups.”

In the article, Tuckman outlined a process where members of a group achieve success by forming, storming, norming, and performing the necessary steps to complete the task at hand efficiently and with minimal friction within the group.

The key is to communicate a very clear set of objectives at the beginning of the task and allow the group to work through smaller issues as they come up.

When employees understand that they’re all working toward the same goal and will receive the same rewards as every other employee, they realize that more can be accomplished in a shorter amount of time when everyone works together.

And that’s no joke.

Ambrose Conroy is the founder of Seraph, as well as a member of its executive team. Seraph works with clients to transform, relocate, or restructure their business operations. Seraph consultants bring experience in exploiting emerging markets, wringing profit from troubled operations, and accelerating product development.  Ambrose is a hands-on management consultant and corporate problem solver who regularly works with leading international companies in the automotive, aerospace, energy infrastructure, and medical technology/device sectors. 

Image Credit: Shutterstock.com

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Get Taken Seriously By Your Employees http://under30ceo.com/get-taken-seriously-employees/?utm_source=rss&utm_medium=rss&utm_campaign=get-taken-seriously-employees http://under30ceo.com/get-taken-seriously-employees/#comments Mon, 14 Apr 2014 17:00:45 +0000 Under30CEO http://under30ceo.com/?p=38683   If you want to be effective as a manager, you need your staff to take you seriously. This can be a challenge for new CEOs, starting entrepreneurs, and business owners who are not used to being in a leadership role. No matter how long you’ve been in management, you need the respect of your […]

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employees 

If you want to be effective as a manager, you need your staff to take you seriously. This can be a challenge for new CEOs, starting entrepreneurs, and business owners who are not used to being in a leadership role. No matter how long you’ve been in management, you need the respect of your employees. When you want them to take you seriously, the following tips can help.

Separate business life from personal life

It’s important for your employees to see you as the boss and think of you in that role, so don’t bring too much of your personal life into that relationship. Don’t regale employees with tales of your dating adventures. Don’t have a beer chugging contest after work.  Don’t spend hours on personal phone calls (especially when people can hear you). Nobody will take you as seriously if they witness these parts of your personal life, so keep that away from your business persona.

Tip: as their boss you have to be authoritative with your employees. It’s important for them to see you as an example and not as their friend.

Set an example with time

You want your employees to show up for work on time, and put in a full and productive work day. You need to set a good example on this.  If you take two hour lunches every day, they may think it’s OK for them to start stretching their midday breaks as well. If you cut out of the office at 3 o’clock on Fridays, then don’t be surprised if they start leaving early, too. Set a good example, and demonstrate the behavior you want to encourage.

Don’t pass the buck

Leaders get a lot of credit when things go well, and they have to take responsibility when things go badly, too. Don’t think you can pass the buck and shift the blame to your employees.  What they do on your watch is a direct reflection of your management ability. If workers need more training, better supervision, or even reassignment to other duties, it’s your job to make that happen.

Treat them like employees, not servants

Unless this is your personal assistant, remember that they are employees of the company, not your personal servants. They’re at work to accomplish corporate objectives. Don’t expect them to pick up your dry cleaning or buy your theater tickets. It’s demeaning, and shows that you don’t value their real job, when you want them to take time out for such menial tasks.

Tip: Organize weekly meetings and talk freely about your employees’ concerns. Treat them like humans; everyone has problems so it’s up to you – the boss – to fix them.

Keep confidential information to yourself

As a manager, you’re privy to certain confidential information. This can include company plans, personnel issues, and budget and salary numbers. When information is shared with you on a confidential basis, you need to keep it that way. Sharing private information is a big no-no. It’s equally important for employers to educate employees on the perils of giving up too much company information to others. As a boss and company owner you need your people to trust you. That can only be achieved if your relationship is strictly professional and respectful.

Help your team out

When there’s a looming deadline and you’re asking your team to put in some overtime hours, then it really helps if you’re willing to do some extra work, too. If you’re out playing golf all weekend while they’re slaving away to finish the project on time, it can foster resentment. See what you can do to chip in and help out. Put in some extra effort yourself, and make it a team effort. They’ll respect the fact that you’re willing to go the extra mile, and they’ll take you more seriously the next time you ask for that extra effort.

If you want your employees to take you seriously, you have to act like a human being. Even though you are in charge, try not to make abuse of your position. Today’s working environment is all about communication, interaction, and cooperation. People like to connect at the workplace because mutual ideas foster great ideas and great ideas lead to good business.

This article is drawn by a regular business writer Jason Phillips. His articles are usually published by high ranking sites and appreciated by readers too. Also he writes for a site http://www.peopleinsight.co.uk  where you can find solution for employee surveys.

Image Credit: Shutterstock.com

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Team Building Tips for Founders http://under30ceo.com/team-building-tips-founders/?utm_source=rss&utm_medium=rss&utm_campaign=team-building-tips-founders http://under30ceo.com/team-building-tips-founders/#comments Wed, 09 Apr 2014 15:00:22 +0000 Under30CEO http://under30ceo.com/?p=38721   Founding a successful startup is a task that can easily overwhelm—unless the entrepreneur has built an excellent support team. Responsible Leadership Means Building a Solid Team If you think you can go-it-alone, you are sadly mistaken. The founder has more irons in the fire than cowboys at a round-up. Unless you have the support […]

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 team work

Founding a successful startup is a task that can easily overwhelm—unless the entrepreneur has built an excellent support team.

Responsible Leadership Means Building a Solid Team

If you think you can go-it-alone, you are sadly mistaken. The founder has more irons in the fire than cowboys at a round-up. Unless you have the support of a competent and trustworthy team, the trajectory of your enterprise will quickly take a direction you won’t like. Founders have to deal with investors, vendors, clients, the press, subordinates and much, much more. Trying to accomplish what must be accomplished without a team will kill your business and very possibly you as well.

Team Building Fails

Before we get into what you should do, it will be helpful for you to read these points on what you should not do.

Bringing friends and/or family on board is a common mistake. You must put the best interests of the enterprise at the fore. If you add someone to the team without carefully considering the contribution they will make and how they may impact the team’s performance, you, your company and your team will pay a high price. The last thing you need is a non-performing team member who’s just looking for a big payout.

Founders can be blind to their weaknesses and exaggerate their strengths. For example, founders often excel in developing a product but come up short on people skills. As your company matures, you need to have people on your team that possess the skills you lack. If you can’t make an objective assessment of your strengths and weaknesses, you are dooming your enterprise to failure. Have people on your team who know how to hire, know how to motivate and understand how to manage a culture. It doesn’t just happen! If your enterprise lacks a well-defined culture, you will experience low productivity, employee churn and increase your risk of running short on cash before gaining traction in your target market.

Corporate or organizational culture is a term that we hear often in discussions regarding entrepreneurship and startup enterprises. One might even make the case for corporate culture having devolved into little more than a buzzword—so much for corporate speak. To many, its meaning has become clouded or even lost.

The development of your enterprise’s corporate culture is the linchpin of its success or failure.

Founder and Co-founders

Before we move on to some team building tips, let me just say a word about co-founders. Co-founders can be a major source of equity dilution, posing greater risk to the value of your stake in the company than venture capitalists. Be extremely judicious in designating co-founders.

Team Building Tips

We’ve touched on this but it bears repeating. The founder(s) must objectively evaluate the skills they possess, determine what necessary skills are lacking and recast the team according to the best interests of the company. Regrettably, this may include eliminating some existing team members that are not adding value. This is a gut-wrenching exercise, but a necessary one and provides the enterprise with the best possible chance of success.

Having recast and established the founding team, it is incumbent upon each player to define his/her role and set strategic goals. When the founding team is successful in building the company to the threshold of soliciting expansion capital, it must establish a coherent culture. The culture should be the product of the founder or the founder in concert with the company’s stakeholders. This corporate culture is particularly important if these funds mean a hiring a larger team. Most founding CEOs recognize the dual benefits of a well-articulated corporate culture.

  • Corporate culture establishes core values against which potential hires can be measured.
  • Corporate culture creates shared values that smooth the way to an enhanced spirit of cooperation among team members.

Successful startup founder(s) having already looked inward, determining the skills they lack and making the appropriate adjustments, must now turn their focus outward and analyze successful competitors in their market. This is vital for the purpose of proving the startup concept to be a viable one. We all recognize that competition is, to a great extent, an affirmation of the concept. Analyzing successful competitors affords one the opportunity to identify common skill sets in competing founding teams and consider emulating these in your own team.

Creating a world-class founding team and defining the corporate culture of your enterprise are without question, in my view, two of the most important tasks your startup will undertake. Use your highly effective team to promote and grow your business and allow your corporate culture to guide you in the hiring, firing and promoting aspects of your enterprise. Following the advice provided here may be the best possible foundation for the success of your business.

Brian Zeng is a digital marketing consultant based in Shanghai, China. Brian works with some remarkable East Asian startups, and helps them implement result-oriented internet marketing strategies to take business to the next level. He’s also a model airplane buff and anchors the community at RC Top Hobby.

Image Credit: Shutterstock.com

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5 Life-Changing Tips We Learned From A Sport We’d Never Heard Of http://under30ceo.com/5-life-changing-tips-we-learned-from-a-sport-wed-never-heard-of/?utm_source=rss&utm_medium=rss&utm_campaign=5-life-changing-tips-we-learned-from-a-sport-wed-never-heard-of http://under30ceo.com/5-life-changing-tips-we-learned-from-a-sport-wed-never-heard-of/#comments Wed, 09 Apr 2014 13:00:33 +0000 Under30CEO http://under30ceo.com/?p=39123 It’s like you’re tiptoeing a thin guardrail on the side of a bridge. You’ve been to this edge before, over and over again in your mind. Calculating the possibilities, pondering the rationality. The water is dark below. You can’t see the bottom, but you’re pretty sure it’s deep. There has never been anything that has […]

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It’s like you’re tiptoeing a thin guardrail on the side of a bridge. You’ve been to this edge before, over and over again in your mind. Calculating the possibilities, pondering the rationality. The water is dark below. You can’t see the bottom, but you’re pretty sure it’s deep. There has never been anything that has felt so right, like you must do it. At least you’ll survive to tell a crazy story, right? Butterflies in your stomach.

Close your eyes.

Go.

My girlfriend Shaina and I found ourselves coming home each day, complaining to each other about the frustrations we experienced working for other companies. Now, don’t get me wrong, we had great jobs. Both working for a major media outlet, Shaina freelancing as a cinematographer and video editor on the side, we had good things going for us. Steady pay, a nice apartment, plenty of disposable income. Nice things. But we clearly weren’t happy.

Tip #1: Don’t settle for comfort or fear uncertainty. Embrace the possibilities of an unfamiliar path.

During this period of our lives, Shaina began working on a freelance project that evolved into a story that would forever change the course of our lives. Inspired by this project and motivated to “do it better” than the accepted standard, we started a video production company focused on creating amazing videos and short films that truly matter.

So now, I am sure you are wondering “What exactly is this project that inspired you to quit your jobs and follow your passion?!”

Shaina had begun filming the Miami Heat Wheels wheelchair basketball team several months earlier to create a short video clip as a favor to the coach. About a month or so into filming, it was so evident that we had happened upon a story that has never been told (but needs to be).

A story about a fraying wheelchair basketball program on their quest to earn a National Championship. The power of an overlooked sport to instill hope in the face of extreme adversity. Our ability to overcome great challenges despite the odds.

The Rebound Documentary

So, for the past 21 months, Shaina and I have been self-funding our efforts to make a full-length documentary about these athletes who consistently rise above extreme physical challenges to pursue something they are passionate about, a game they truly love, and above all else, an action that gives them hope.

Tip #2: Let life inspire you in unexpected ways. There’s probably a reason you were moved by that story – don’t be afraid for your next project to choose you, rather than you choosing it.

It’s kind of funny how things happen. You might call it a coincidence, but Shaina and I truly believe in synchronicity, that “Things happen for a reason.”

We met Cesar Romero, Community Manager for Under30, at a social media conference in Miami.  Connecting and sharing our “leap of faith” experiences with each other sprouted a friendship that eventually led to an opportunity to attend an Under30Experiences trip to Costa Rica where we were introduced to a group of super genuine, adventurous  individuals. Not only did we come back from that adventure with a fresh perspective on where we are in our own path, but we also gained an ever expanding network of like minded, passionate, driven individuals.

Under30Experiences Costa Rica

One of the things that is so special about Under30 is that it truly doesn’t end with the travel experience, the blog you read, or the email that you connect with – this is a community that can transform and nurture your dreams. For us, this has come full-circle. Thanks to the Under30 community, as well as our friends and family, we’ve been able to grow our core support network for this project and truly evolve our approach and the potential impact we’re going to make. It has always been about telling an inspirational story and the tale of an overlooked sport, but it’s blossomed into so much more.

Tip #3: Explore the world and get out of your comfort zone. You never know what you’ll find.

We’re on a mission to achieve three main goals.

  • First, raise awareness for wheelchair basketball, an adaptive sport that provides invaluable opportunities for people to find hope despite facing a mountain of challenges.

  • Second, break down social misconceptions of what it means to be disabled.

  • Third, inspire the world and motivate people to embrace and rise above their challenges.

We all have the power to overcome great adversity and achieve amazing things.

Tip #4: Don’t be afraid to dream big and share your ideas with the world.

The story that first inspired us to take our leaps of faith, leave our desk jobs behind, and go after our passions has now become the heart of the feature film we are working to share with the world.  After nearly 2 full years capturing this story on our own, we know that in order to make an epic positive impact on the world we need to surround ourselves with a passionate community of people who believe in the power of stories to change the world and impact the lives of others.

Tip #5: Persevere through the tough times, never stop learning, and surround yourself with people who make you better.

For those of you that feel that fire igniting inside, don’t ignore it.

It’s real.

I’m not saying you shouldn’t plan before you leap, but explore your options.

How can you make your dream a reality?

Don’t be afraid to take that risk. You have 168 hours each week. Give your passion just 6 hours a week to get started, no matter what it takes. Test those dark waters. Now is the time to do it, before it’s too late.

The Rebound

Take a look at this community, built from scratch out of two people’s dream, with countless incredibly scary leaps of faith.

Now you’re here reading our story, is that just a coincidence? We would love for you to join us on this mission and help support the making of “The Rebound” by contributing whatever’s in your heart and sharing our mission with your networks.
TheRebound-Chad_Andreo_MHW-Mario-Jeremie-v2-1024-638 copy

From the bottom of our hearts, we appreciate you reading our story and we hope you’ll join us in making a difference in the world. If you want to help us make a positive impact, check out our Indiegogo campaign: http://igg.me/at/reboundthefilm

<3

Mike & Shaina

Image Credits: Shaina Koren Cinematography

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How To Balance Ambitious Career Goals With Your Love Life http://under30ceo.com/balance-ambitious-career-goals-love-life/?utm_source=rss&utm_medium=rss&utm_campaign=balance-ambitious-career-goals-love-life http://under30ceo.com/balance-ambitious-career-goals-love-life/#comments Mon, 07 Apr 2014 13:00:51 +0000 danieldipiazza http://under30ceo.com/?p=39284 Today, I wanted to write about something that I’ve been thinking about for a long time, but haven’t had a chance to discuss with anybody outside of my “inner circle.” I want to talk to you about how I’ve learned to balance the increasing demands of my career — writing, consulting, building products, flying places, […]

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Today, I wanted to write about something that I’ve been thinking about for a long time, but haven’t had a chance to discuss with anybody outside of my “inner circle.”

I want to talk to you about how I’ve learned to balance the increasing demands of my career — writing, consulting, building products, flying places, etc — with the real life responsibilities involved in maintaining a happy long-term romantic relationship.

To be clear: I’m not an expert. I’m not going to write about the 5 Love Languages or tell you that everything is always perfect. I don’t claim to have figured everything out. Not by a long shot.

But over the past year, I’ve definitely gotten better.

In fact, my girlfriend Sara would agree:

Screen Shot 2014-03-27 at 12.51.46 AM

This is written proof I’ve gotten better. If I ever need it later.

I think the unique challenges that come with having a girlfriend/boyfriend while still trying to hustle hard are worth talking about — and although this is an issue many of my ambitious friends struggle with, I don’t hear people making any good suggestions to improve their results beyond “try harder.”

So I’ll shed a little light on what’s working for me. I hope you find it helpful!

Please leave a comment at the end if you find this info useful — and if you know somebody who could use this type of material, please pass it on.

*******

On Monday, I showed you some of the pictures and video from a mini-vacation that Sara and I took to Vegas last weekend. I got a lot of sweet feedback via email. Thanks guys :)

This year (November) will mark our 4 year anniversary and I’m really happy in the relationship right now. We’ve been through a LOT of ups and downs, but for the past year, definitely more “ups.”

Coincidentally, the past year has also been my busiest year ever.

This is a topic for an entirely different post (or maybe even a book!), but what I’ve experienced in career growth, earning power and opportunity over the past 12 months has been nothing short of mind-blowing. Many people would call this type of exponential improvement a “discontinuous leap” — meaning that improvement skyrockets in a wildly unpredictable, positive growth.

4 years ago, I was a server making $2.13/hr + tips— and many of my previous co-workers are still at that restaurant!

 

I started a series called “The Server Chronicles” to document my struggle at the restaurant

These days, I’m flying all over the world, averaging about 2 trips per month, working on interesting projects and having a lot of fun doing it.

 

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With my friends Rishi and Cesar in Nicaragua on an Under30Experiences trip

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In Boston, getting tattoos with my friends Maneesh and Nicole for our new startup, Pavlok

I’m having a GREAT time. But damn, sometimes I’m getting 3 hrs of sleep/night. It’s the hustle!

 

Why am I telling you about me? Isn’t this post supposed to be about relationships?

I’m making these points not to highlight my own achievement, but to pose a question: If I’m doing so much traveling/working/creating these days…how can I afford to spend time building a meaningful relationship with someone else?

Well, let me start by telling you what DOESN’T WORK.

I used to think of time in business vs my relationship in a 1:1 manner.

I’d desperately struggle to spend equal amounts of time with both. 80 hours of work meant 80 hours with Sara.

This was a benchmark that I’d set for myself, and I could never hit it.

I always felt guilty.

On one hand, I knew that the only way I’d be able to grow my business was to work at it tirelessly.

But on the other hand, working at it tirelessly left me with nothing to contribute to the relationship — and as understanding as she is — you can’t check out for 2 weeks to work on a big project and expect there not to be any consequences.

I always felts like I was playing catch up with my relationship — and I never felt like she was truly satisfied with my attention, even when I was there.

 

Then, I started to play with the “formula”…

One day, it occurred to me…

I’d been so stressed about trying to divide my time 50/50 — but what if I’d gotten the formula all wrong?

What if it wasn’t about quantity, or spending as much time with my girlfriend as I did on my business?

What if it was all about quality?

Over the past 12 months, I haven’t had as much physical time to spend on my relationship as I’d have liked.

But what I have realized is that the ratio doesn’t have to be 1:1 if when you do spend time with someone, you’re completely present.

Think about it. How many times have you been with someone you care about, but at the same time you’re:

  • Scrolling endlessly through your Facebook newsfeed
  • Thinking about what you have to do tomorrow
  • Half listening to them
  • Talking incessantly about your projects, and neglecting to ask them about their day

We’re all guilty of it.

Try this: Next time you’re with your boyfriend/girlfriend, be completely there. Completely.

If you’ve worked for 10 hours, and you only have 3 hours to give them before you pass out, really give them those 3 hours.

And be transparent about it. Say, “Hey, I’m working on a zillion things right now, but I really want to give you my undivided attention now for a few hours.”

Make sure they KNOW that they’re getting all of you (so that you get credit :p)

Then, make a genuine effort to show you’re serious about your time together.

For instance, leave the laptop or cellphone at home when you go out.

I left my computer at home when we went to Vegas. It was terrifying and weird, but I felt free.

And Sara knew I wasn’t there to work. I was there to have fun with her.

It’s not always easy to balance a relationship with a hustle — whether it’s your own business, a demanding job, or school.

But it can be done if you emphasize the quality of your together time, and make it clear on both sides what the focus is.

Am I always perfect with this philosophy?

Hell no.

But this outlook has helped me immensely over the past year. I hope it’s useful to you, too. :)

 

*******

Free for Under30CEO Readers: The Startup Series.

I love the Under30CEO community, so I wanted to give you something special as a “thank you” for reading this article — and also give you some useful tools to help you get started on your dream projects TODAY.

Grab my free Startup Series.

It’s a 3-part “mini-course” that will show you how to become more productive with your time, avoid the most common mistakes, and learn to launch a business/project in record time. It’s free, so just enter your email here and I’ll send it right away — completely free :)

Click to get the Startup Series for free

Parts of this post were originally published by Daniel DiPiazza at Rich20Something.com

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What You Need to Know About Independent Contractors http://under30ceo.com/need-know-independent-contractors/?utm_source=rss&utm_medium=rss&utm_campaign=need-know-independent-contractors http://under30ceo.com/need-know-independent-contractors/#comments Sun, 06 Apr 2014 19:00:00 +0000 Under30CEO http://under30ceo.com/?p=38570 Businesses often prefer using the services of independent contractors (sometimes also called “subcontractors” or “freelancers”) rather than employees. Independent contractors are usually a better deal for businesses.  With independent contractors, businesses do not have to pay the required employer contributions to Social Security and Medicare, the burden of which is shifted to the independent contractor […]

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independent contractor

Businesses often prefer using the services of independent contractors (sometimes also called “subcontractors” or “freelancers”) rather than employees.

Independent contractors are usually a better deal for businesses.  With independent contractors, businesses do not have to pay the required employer contributions to Social Security and Medicare, the burden of which is shifted to the independent contractor through the so-called “self-employment” tax.  Businesses also do not have to worry about tax withholdings—that is the independent contractor’s responsibility too.  By using independent contractors instead of employees, businesses can often avoid workers’ compensation and unemployment insurance requirements for those individuals, as well other labor law requirements such as mandatory lunch breaks.

So, should you just treat everyone who performs services for your business as an independent contractor?  No, only certain workers can legally be treated as independent contractors.  Treating someone as an independent contractor when he/she is legally considered an employee can have terrible consequences—fines, penalties, unexpected taxes, interest and other liabilities.

Is Your Worker an Employee or an Independent Contractor?

Unfortunately, there is not a simple test—and various government agencies have slightly different criteria for determining whether your worker is an employee or an independent contractor.

The Internal Revenue Service (IRS) website explains its standard as follows:  “The general rule is that an individual is an independent contractor if the payer has the right to control or direct only the result of the work and not what will be done and how it will be done.”

Some factors that may be examined include:

-         who controls when, where, and how the work is done

-         how a worker is paid

-         whether expenses are reimbursed

-         who provides tools and supplies

-         whether the worker is free to seek out other business opportunities

-         whether the worker advertises and/or maintains a visible business location

-         the permanency of the relationship

-         degree of independence

-         the extent to which the worker’s services are integral to the company’s business; and

-         whether the worker receives traditional employee benefits, such as pension, health insurance or vacation pay.

However, any information related to the degree of control and independence is potentially relevant.  If you are unsure whether you are dealing with an employee or an independent contractor, you should seek the advice of an attorney because the consequences of misclassifying the worker are so significant.

It is good to define the relationship in writing.  That might make some difference in a close case.  But if an employer-employee relationship exists, it doesn’t matter what you call it—it’s still an employer-employee relationship.

Federal Tax Forms

You should have the independent contractor complete a Form W-9, Request for Taxpayer Identification Number and Certification, at the time of engagement.

If you pay an independent contractor $600 or more during a year, you will need to complete a Form 1099-MISC, and provide a copy to the independent contractor by January 31 of the year following payment, then also provide a copy to the IRS.

Copies of and instructions for these forms can be obtained from the IRS.

Written Agreements

Written agreements with independent contractors are not typically mandated by law.  However, it is smart to have written agreements with your independent contractors.  Written agreements allow you to define important terms of the business relationship.  Examples include:  payment terms, deliverables schedule, ownership of work product, insurance, security requirements, standard of care, non-disclosure covenants, and remedies for breach.  Of course, there are many more terms that could be, and often are, included.  Without a written agreement, you are likely to have difficulty in attempting to enforce your rights.

You want to be in control of the contract drafting process if at all possible.  You want to set forth your desired terms—your “standard terms”, if you have a contract that you use repeatedly.  You can always negotiate if you want, but you should be the one to suggest the starting point.  Including reasonable terms in your agreement is the best way to avoid resistance from the independent contractor.

You should have any written agreement prepared by—or at least reviewed by—an attorney.  Contract law is complicated, and sometimes words may have legal meanings that differ from what you might think.  Business-focused lawyers have the training and experience to protect your rights, negotiate terms that are favorable for you, and ensure that the agreement actually means what you think it means.

If your business often engages independent contractors under similar terms, it may be possible for your attorney to provide a quality contract with standardized legal “fine print”, but allowing you to fill in the business terms that change in each deal, such as price, deadlines, and project descriptions.  That way, you only have to pay your attorney for preparing one contract—even if use it 4, 5 or even 100 times.

Joshua Korman is an attorney from Buffalo, NY, who focuses on business law and estate planning.  Information about his law practice and other articles by him are available on his law firm’s website: www.brodykorman.com.

Image Credit: Shutterstock.com

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Success Stories: What These Entrepreneurs Did to Change the Game http://under30ceo.com/success-stories-entrepreneurs-change-game/?utm_source=rss&utm_medium=rss&utm_campaign=success-stories-entrepreneurs-change-game http://under30ceo.com/success-stories-entrepreneurs-change-game/#comments Fri, 04 Apr 2014 15:00:09 +0000 Under30CEO http://under30ceo.com/?p=38733   It’s not easy to turn a dream into a reality, but many entrepreneurs have taken on the challenge. While most startup companies fail, many within the same year, a few go on to major success. Here is a look at five companies that did something right with their businesses: Sweet Leaf Tea How can […]

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 startup success

It’s not easy to turn a dream into a reality, but many entrepreneurs have taken on the challenge. While most startup companies fail, many within the same year, a few go on to major success. Here is a look at five companies that did something right with their businesses:

Sweet Leaf Tea

How can a guy take a secret recipe from Granny for delicious iced tea and make a million dollar company out of it? Just ask Clayton Christopher and David Smith, co-founders of Sweet Leaf Tea. They started out back in 1998 with a start-up cost of around $7,000. By 2008, their company made $12 million with just 45 employees working hard to build their brand. The secret to their success, besides the recipe itself, was the fact that they were willing to offer free samples at various events and in stores. Sweet Tea Leaf positioned themselves as the “tea-makers next door,” with a homegrown and authentic story that customers could relate to much better than, say, Lipton or Brisk. They posited Sweet Tea Leaf as the little guys, and became the big guys by doing so.

Shopify

Shopify hit one billion dollars in profit just last year and is one of the most successful startups in Canada’s history. It is part of an elite club known as the Unicorn Club, a group of companies at the $1 billion level and has doubled its numbers for the last four years. The future looks bright for Shopify as more companies develop eCommerce sites to coincide with brick-and-mortar stores. The success behind Shopify can be attributed to its focus on branch of commerce that is not only expanding, but becoming the premier way customers shop.

ToyBoxLive

The secret behind this UK start-up is simple: find a need and come up with a unique way to meet it. While that idea is the recipe for success for any start-up, not everyone has transformed their dream into reality the wayToyBoxLive has been able to do. Owner Alison Chesworth got the idea of renting toys instead of buying them from her own experience with her daughter, which she then implemented into a business model with a cost-effective toy rental (and later toy sale) company.

Fleksy

Ioannis Verdelis and Kostas Eleftheriou, co-founders of the new appFleksy that is designed for a specific niche audience, faced many challenges in getting their product out to the mainstream. Their app focuses on one target group: the visually impaired who have a desire to text on their smartphones. When Verdelis and Eleftheriou did demos of their products, people responded positively and let them know they were on the right track.

However, neither of Fleksy’s owners had much experience in the mobile text-input market. They also had no funding, but that wasn’t going to stop them. They created a prototype because they knew it was essential for people to see their product instead of just hearing about it. They also found partners that would incorporate Flesky into their own apps, making their two-pronged business model more adverse to failure and securing $3 million in Series A funding. The overall appeal of the app from a development and investment standpoint was the fact that no code was needed to use Flesky unless they just wanted to change the design, making it a simple implementation.

When the app launched in the AppStore in 2012, it was the third most downloaded app globally in the category of productivity]. Since then, Flesky has raised more funding from major investors and interest from new developers.

Boomerang

Boomerang is a Chicago-based startup that began as a failure but has since transitioned into success. The beginning concept from founder Zach Smith was to offer local gift options for customers instead of gift cards from national companies. With very little initial success, Smith transitioned Boomerang into an advertising platform by offering free gift card incentives to consumers that Boomerang in turn receives compensation for. The big picture behind Boomerang is that once people are shopping with their free gift cards on a website, they will continue to spend money beyond the gift card.

Smith tried something, and failed. He recognized the failure of his brand early on and was able to tweak his service in order to create something that facilitated a general need businesses had.

These startups are experiencing various levels of success with their companies. Some, like Sweet Leaf Tea, have achieved great success and become profitable in revenue and brand awareness alike. Others, like Boomerang, are just beginning to see the fruits of their labor after a false start. All of them have achieved their current status because they learned how to recognize opportunity and make the most of it.

Camille McClane is a writer, researcher and editor who enjoys all-things tech and social media. Recently she has been studying online marketing and branding, and hopes to one day open her own online marketing firm! She hopes you enjoy this article.

Image Credit: startupquotes.startupvitamins.com 

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Public Relations- Will they work for your startup? http://under30ceo.com/public-relations-will-work-startup/?utm_source=rss&utm_medium=rss&utm_campaign=public-relations-will-work-startup http://under30ceo.com/public-relations-will-work-startup/#comments Tue, 01 Apr 2014 17:00:33 +0000 Under30CEO http://under30ceo.com/?p=38681   Are you unaware about the role of Public Relations in strengthening a business enterprise? Are you unsure whether Public Relations (PR) would suit your start-up? If you’ve answered a “Yes” for both the above questions then you’ve landed on the right post. Keep on reading to find how PR can solve all your business […]

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PR 

Are you unaware about the role of Public Relations in strengthening a business enterprise?

Are you unsure whether Public Relations (PR) would suit your start-up?

If you’ve answered a “Yes” for both the above questions then you’ve landed on the right post. Keep on reading to find how PR can solve all your business promotional problems instantly.

After paying heed to the ever-growing online business competition, it has become vital for every entrepreneur to focus on areas that can aid him/her in making the most out of internet. If you own a startup then this becomes even more essential because you’re already struggling with the initial stages of starting a business and your online visibility is next to zinch. It is here when the role of Public Relations agencies comes to play. The faster results delivered by PR executives make them a must-hire for every entrepreneur. In this blog, I’ll walk you through some of the most recognizable advantages of hiring a Public Relations agency, especially if you run a small-scale business firm.

What is PR (Public Relations)?

Public Relations solely deal in raising awareness of your company and brand. Quite unlike the usual advertising techniques, Public Relations make sure your business is being showcased to the people who are interested in learning more about you. While the advertising methods include posting blogs in directories, placing advertisements in newspapers/magazines/websites etc., PR affirms maximum reach of your business for free. Although a long-term business promotional strategy, PR serves as an excellent tool for building relationships that are worth numerous appreciations. 

As a startup, why choosing PR can turn to be your best decision?

Now, here’s a list of reasons that make PR (Public Relations) the most promising promotional strategy for start-up organizations:

Reason No.1- Are you intending to share a personal story? PR will allow you to do it

Similar to millions and millions of struggling merchants, you also might be well interested in sharing your struggle stories with the world. PR(Public Relations) is what can help you do this. Hiring a reputed Public Relations agency will allow you to share your story as to how and why you started with the business, how you combated the challenges that came your way while setting up the business firm etc.

Reason No.2- Local audience will love to learn about your products and services

Unlike big companies, smaller business firms are better accepted by their local audience. The encouraging feedback received by this audience helps the firm in building a strong presence. No matter how restricted your budget is, a reputed Public Relations agency can go beyond limits to create maximum awareness for your brand. It will look into making your brand popular among the local community that is always on a look out for best brands.

Reason No.3- PR lets you know your customers better

Although you might have a clear idea about the kind of customers your brand needs to target, there are situations when you may find it tedious to reach out to the most suitable client. It is here where a PR agency comes to your rescue. Public Relations allow you to know your customers in a better manner. Whether it’s about establishing a regular follow up via emails, sending thank you notes or receiving comments on posts published on your company’s Facebook page, the PR people will take care of everything. These professionals are trained at “selling” a story to the press.

Reason No.4- PR makes way for effective Event Planning

Events form a crucial aspect of every successful business enterprise. Although you might be well versed with the concept of event planning, hiring a professional Public Relations Company will allow you to organize an event that will help you establish your niche. The best part of choosing Public Relations for event planning is that you need not spend a whole lot of money. A lesser sum of cash can be effectively utilized by the PR professionals for strengthening your business network.

Reason No.5- Attracting positive publicity is simpler with PR services

In comparison to big business houses, small corporate firms have greater chances of attracting positive publicity. Additionally, if the small business enterprise hires a Public Relations executive then all the worries about receiving negative feedback and comments for company/products and services actually vanish off.

Public Relations- What makes it a powerful tool for improving a company’s sales

In addition to acting as a proven brand promotional tool, Public Relations also serves as an effective strategy for improving the overall sales. By familiarizing consumers about the kinds of products and services rendered by your company, Public Relations executive looks into positioning you in the market. He/she ensures to connect you with the targeted audience and builds a feeling of trust for your company/brand. The best part of Public Relations is that you can actually watch all the renowned bloggers, journalists, newspaper/magazine editors talking about your product and service offerings.

Make sure to select a Public Relations Company that’s well familiar with your Business Sector

In order to explore multiple advantages of Public Relations it is recommended to opt for a PR firm that specializes in your industry. This is crucial because only such a firm will be able to understand your company’s needs and goals in a much better manner. Also, a related PR Company will be able to analyze the areas where your products and services can be promoted for guaranteed audience attention.

So, the answer for the question posed in the title is a “Yes”. Public Relations have and will continue to work wonders for your start-up organization. Simply hire a reputable Public Relations Services Company and witness how rapidly your business will be recognized worldwide. PR is the promotional technique that has something for everyone. You just need to take some time to think about which PR company will be able to meet your customized needs.

Please don’t forget to share your feedback on the above post, using the comments box below.

Mike is a blogger by mood and web designer by profession. He gives ideas to convert WordPress template from PSD and loves to share his thoughts on social media. You can log in to his web to get various other conversion services.

Image Credit: http://www.chatterbuzzmedia.com/

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Why It’s Ok To Suck In The Beginning http://under30ceo.com/ok-suck-beginning/?utm_source=rss&utm_medium=rss&utm_campaign=ok-suck-beginning http://under30ceo.com/ok-suck-beginning/#comments Mon, 31 Mar 2014 13:00:35 +0000 danieldipiazza http://under30ceo.com/?p=39074   When I was 15, my aunt got me a guitar for Christmas — and to this day, it’s been one of the best gifts I’ve ever received. Shout out to Suzy! The parking lot of King High School. I think you get the same response from women just holding a guitar as you do […]

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When I was 15, my aunt got me a guitar for Christmas — and to this day, it’s been one of the best gifts I’ve ever received. Shout out to Suzy!

380978_10100650271557431_718775085_n

The parking lot of King High School.

I think you get the same response from women just holding a guitar as you do playing it.

The great thing about guitar (besides the fact that it’s an amazing way to pick up girls…I’ve heard) is that it’s pretty straightforward to learn, and you can get to a nice intermediate level quickly — which is what 99% of guys want. We can find a song, learn it in a day and take the guitar to a party that night. Unlike other instruments you may have played in middle school or high school (I played viola), guitar has this shorthand notation called TAB (short for tablature) which basically replaces all the sheet music with numbers.

So, instead of this:

Screen Shot 2014-03-02 at 11.45.36 AM

How does this translate to guitar…???

You see this:

Screen Shot 2014-03-02 at 11.52.40 AM

Yes. Numbers. I can work with numbers.

Look at these two examples. The sheet music in example one is very obscure. To the novice musician, it’s literally like reading hieroglyphics. It doesn’t really make any sense at first:

“Wait, there are 4 lines on the staff….but there are 6 strings on the guitar?”

“Ok…so there are multiple strings that play the same note on the guitar? Well how do I tell the difference on the staff?”

“What finger should I use to play the notes?

Confusing.

You don’t have to be a rocket scientist to see that option two, TAB, is much easier. Basically, all the strings of the guitar are labeled from bottom to top. In this case, the bottom “D” is the “thick” string (it’s actually supposed to be “E”…but for the example, it doesn’t matter.) The “E” at the top is the thinnest string. All those little numbers — those are the notes you play. If it says “5″ on the “E” string, just hold down the 5th fret on the E string and pluck it. If it says “0″, play the string without holding anything down.

Congratulations, you can now play about 90% of guitar songs — because almost every song known to man has been transcribed for TAB. And you didn’t even learn to read any music whatsoever.

The drawback here is that without knowing how to read sheet music, or understanding the basics of musical theory, you can PLAY almost anything — but you don’t know why you’re playing it. It’s like being able to pronounce Spanish words well, even though you can’t speak the language. You might sound fluent, but you have no idea what you’re saying — so you have no idea how to communicate a thought. Basically, you’re faking it.

I played using TAB for years. I made it to a “high-intermediate” level, and I could play lots of songs that you’d recognize…but then I got bored and stopped practicing. I liked guitar, but it just didn’t excite me anymore. I think the reason was because deep down, I knew that I couldn’t really play music. I was just mimicking numbers on a page. I had no idea what notes went together, why they worked, or how to play anything outside of my narrow understanding. This frustrated me, so I stopped playing until I could devote the time to learn music for real.

I’d put a “bookmark” in the musical area of my life for the past 5 years, and now, I finally have the time to hire an instructor. His name is Alex – he’s incredible. We do everything via Skype, so I have no reason not to show up. And guess what…I’m learning to read music. Without the crutch of TAB to make me feel like a virtuoso, I’m back to square one with an instrument that I used to be very familiar with.

The beginning of every journey sucks…

This is me, painfully playing George Harrison’s “While My Guitar Gently Weeps” — from the sheet music. You can hear that it’s choppy, not very fluid and I make mistakes. For me, this is very frustrating.

But slowly, I’m getting better.

Learning to read music is really like learning a foreign language. Sometimes, after an hour or so of playing and studying scales…I get a “breakthrough” that connects everything I’d done for the past few days together and erases all the questions I had in one fell swoop. The giant “aha” moment.

It’s a slow trek, though — and often, I want to give up. Of course, I wouldn’t SAY that I was quitting. I’d probably let it slip away gently, and hope nobody noticed I wasn’t playing anymore. The key to quitting is to do it quietly, so that nobody challenges you!

But I haven’t quit. And I won’t. Somehow, I keep pushing.

Here’s the truth: Everything sucks in the beginning.

 

Embracing the possibility spiral

My friend Sibyl at The Possibility of Today would refer to the beginning of any journey as the bottom of your “Possibility Spiral.”

PossSpir_Infographic_r1

The road to success is seldom a linear path

I really vibe with Sibyl’s diagram. Let’s take a deeper look at what’s going on here:

  1. Everyone starts at their version of the bottom — wherever that is. It’s exciting at first, but there’s also a tremendous amount of work to be done.
  2. As you progress up the spiral, your challenge seems increasingly difficult as you go around the back end of the spiral. You may be moving so slowly at first that you can’t even see you’re making progress.
  3. If you continue to stick with it, momentum builds and the spiral gets tighter. This means that every subsequent turn actually moves you faster and faster up the spiral.
  4. The top of the spiral requires only a fraction of the work and heavy lifting to maintain compared to the bottom of the spiral.

It’s so easy to get discouraged when you try something new, and SUCK.

Next time you try something new, and you find yourself discouraged because you’re not good yet, I want you to reframe your beliefs.

Instead of focusing on how bad you suck, view your progress as the correct place in the your “possibility spiral” — and a level that’s sure to be surpassed with consistent effort and some time in the game.

Everybody sucks in the beginning. Deal with it.

I’ll meet you on the other side.

*******

Abolish Suck. Grab The Startup Series.

I love the Under30CEO community, so I wanted to give you something special as a “thank you” for reading this article — and also give you some useful tools to help you get started on your dream projects TODAY.

Grab my free Startup Series.

It’s a 3-part “mini-course” that will show you how to become more productive with your time, avoid the most common mistakes, and learn to launch a business/project in record time. It’s free, so just give me your email here and I’ll send it right away — completely free  :)

Click to get the Startup Series for free

Parts of this post were originally published by Daniel DiPiazza at Rich20Something.com

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How to Get Big Rewards For Your Brilliant New Product Idea http://under30ceo.com/get-big-rewards-brilliant-new-product-idea/?utm_source=rss&utm_medium=rss&utm_campaign=get-big-rewards-brilliant-new-product-idea http://under30ceo.com/get-big-rewards-brilliant-new-product-idea/#comments Sat, 29 Mar 2014 17:00:17 +0000 Under30CEO http://under30ceo.com/?p=38273   First of all, when genius strikes, decide that you’re going to do something!  Almost nobody does. Most folks will get a product idea or notion at one time or another and maybe mumble to themselves; “Someone oughta come out with something like this.” – and one day, sure enough, someone does.  And when these […]

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 idea generation

First of all, when genius strikes, decide that you’re going to do something!  Almost nobody does. Most folks will get a product idea or notion at one time or another and maybe mumble to themselves; “Someone oughta come out with something like this.” – and one day, sure enough, someone does.  And when these folks see “their idea” on retailer shelves they’re ready to kick themselves for letting this golden opportunity slip by.  The simple fact that you’re reading this shows that you’re not one of those folks.  You know you’re going to do something — but what?

If you’re smart and lucky and have plenty of cash reserves, you might make a LOT of money by marketing your new product invention yourself.  However,  remember that about 60% of new businesses fail within 18 months; usually with dire financial consequences for the inventor and his or her family. Licensing your new invention to an established company and receiving a royalty income based on sales has a lower earning potential – but there’s virtually no risk and your income is passive.  You continue living your life and the royalty checks just appear in your mailbox every month..  Most inventors or folks with clever product ideas don’t want to risk their savings and turn their whole lives upside down — so licensing is the popular route.  If that’s also your choice,  then just follow these 5 simple steps for a guaranteed happy financial result.

The 5 Positively Guaranteed Steps for Cashing in on Your Amazing New Invention or Clever New Product Idea (Without financial risk, chance or debt)

Step #1  – Only invent what needs to be invented.

Inventing is easy — but the hard part of this business is to first uncover what’s actually worth inventing.  Most inventors invent for the joy of it, but a successful inventor is also a businessperson, knowing that he must deliver a product that companies are prepared to buy – something so exciting and original – and with so much profit potential – that it’ll be a deal too good to let pass by. Otherwise, no matter how clever the invention – no one will care.

Step #2 – Nobody knows the second guy to discover America.

In theory, everyone knows about first searching for existing products before devoting time and money on a new idea — but most inventors only do it in a quick, cursory manner, virtually  guaranteeing that they find nothing – or think that by adding a little tweak to similar existing products they’re making something totally new and wonderful.  That never works; don’t kid yourself.   So – before just plowing ahead, take the time to search honestly and thoroughly.  Any interested company will surely do its own thorough searching — and you don’t get paid for being second.

Step #3 – Understand what you’re expected to put on the table.

Know the difference between having an invention and just having an idea for one. Companies might be interested in the first – but not in the second,  The devil is in the details.  And if your invention promises to do something,  you need a prototype to show how it does it.  And if the product is important you’ll probably need a patent to give the manufacturer the exclusivity he’ll demand.  He’ll only sign a licensing deal if he has to – your job is to make it so.

Step #4 – Remember – anyone who’s not the boss is your enemy.

If you present your invention to underlings or assistants, they’ll waste your time and break your heart.  Know your enemy. These folks do NOT want the boss to see your great new product for fear that he’ll wonder why they didn’t think of it, and so they’ll stall and stall.  Show your idea only to the decision maker who can say yes and only do it face to face.  That’s how business deals are made.  Forget about mail and email.  If you want the order, go in person.

Step #5 – Success is in sight – this is no time to go all wobbly.

If you have the right invention and show it to the right person, he will say “Yes!” (Guaranteed) so you have to be ready to close the deal.  You’re the seller – it’s your job to lay out the terms that you want.  Leave it to the licensee and you’ll have the deal from hell.

Understand the nature of a licensing agreement; know what you’re  legitimately entitled to receive, and be prepared to negotiate fairly.  Remember the old Wall Street expression; sometimes the bears win and sometimes the bulls win — but hogs always get slaughtered

Harvey has developed and licensed more than a hundred of his own product ideas, not counting those of other inventors – and he reveals his secrets in his best selling book,  How to License Your Million Dollar Idea — or if you want Harvey’s personal help, visit him at Money4ideas.com.

Image Credit: http://www.ctlgrantseeking.project.mnscu.edu/

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