Monday, August 31, 2015

7 Habits of Highly-Effective Entrepreneurs




Habits form our lives. They provide a framework on which we build professional success and personal happiness. As a society, we’re fascinated with the habits of others, usually prominent figures – celebrities, political figures, and, of course, famous entrepreneurs.  (Think: Richard Branson, Bill Gates and Mark Zuckerberg, to name just a few.)
My team and I often discuss these founders' routines and how we can emulate them ourselves. Here are the some interesting habits of famous entrepreneurs that can help give you starting points for your own successful daily routines.

1. Minimize low-impact decision-making

To maximize energy and effort for high-impact and creative decisions, entrepreneurs need to minimize as many day-to-day choices as possible. This can be as simple as eating the same breakfast every morning or giving each day of the week a goal-related theme.
Facebook’s Mark Zuckerberg focuses his energy on his most important decisions and completely eliminates a minor decision each of us make every single morning: what to wear today? Mimicking Steve Jobs who wore jeans and the same black turtleneck every day, the founder of Facebook wears the same daily uniform of jeans and a hoodie

2. Don’t take no for an answer.

Image credit: Elon Musk Facebook
While we champion humility, sometimes the only way forward is to ignore the naysayers and have confidence you’re on the brink of success.
Known for refusing to take no for an answer, serial entrepreneur Elon Musk simply doesn’t allow others to tell him something is impossible. He puts himself on a path with forward momentum and creates tunnel vision toward a singular, innovative goal, refusing to allow anyone to deter him.
It has been reported that 90 percent of startups fail and without complete confidence in an idea and the determination to do whatever it takes to succeed, an entrepreneur won’t make it. 

3. Take one step further than everyone else

Image credit: Marissa Mayer Twitter
Entrepreneurs are always characterized as the people willing to take one step further than everyone else. Yahoo CEO Marissa Mayer is the living realization of this and is known for expecting near-perfect results. She once insisted her team test 41 different shades of blue for Google search results. While some find her tenacity and dedication to perfection intimidating and daunting, she has built a career on a commitment to high-quality output and results.

4. Put your customers first.

Image credit: REUTERS | Lucas Jackson
Innovative startups start with the customer as the first priority. Entrepreneurs see a need and fill it, creating a better world for their users.
Twitter was built on the premise of quick worldwide communication, 140 characters at a time. More importantly, Twitter founders Evan Williams, Jack Dorsey, and Biz Stone were more concerned with improving usability and minimizing the infamous Fail Whales than with revenueduring those early, crucial years. As a result, they built a world-changing communication engine in which his users feel like they have ownership.

5. Enthusiastically shift gears.

Image credit: Payal Kadakia Twitter
Many companies fail. That’s a reality. However, persistent entrepreneurs who are willing to try something different end up being the ones that ultimately succeed. Many incredible businesses and services are the second, third or even fourth attempt of an entrepreneur who just flat out refused to give up and instead decided to try something different.
When her first company, Classtivity, struggled to get off the ground, Payal Kadakia realized she was going after the wrong goal and switched gears to create ClassPass. The startup has grown exponentially in its first two years by scheduling hundreds of thousands of fitness classes for its users, all because Kadakia was unafraid of admitting she was headed down a wrong path and willing to turn around to find a better one.

6. Be visible.

Image credit: Richard Branson Twitter
Most entrepreneurs don’t fit the 9 to 5 mold. They work when they want (albeit, more hours than the traditional employee) and work from wherever they’d like. They understand that creative insights require new environments and experiences.
Sir Richard Branson takes this to the next level by being highly visible, not only within his company but also by making himself available to his customers. He experiences Virgin Airlines firsthand, chatting with his employees and customers to get a better feel for how his company is doing. He is constantly out and about meeting new people and finding new ideas. 

7. Stay true to your company culture.

Image credit: ModCloth Website
Startups allow a handful of people the opportunity to create a one-of-a-kind culture. ModCloth founder Susan Gregg Koger started her online retail business at 17 and built her company without any professional experience in the retail world. This led to more creative power stemming from a “scrappy” mentality, a disregard for the direction other large retailers were taking, and, most importantly, a steadfast dedication to a social shopping experience for customers. Rookie status, in essence, helped her team think outside the box.
Years later, with a successful company under her belt, Gregg Koger encourages her team to continue channeling this rookie mentality for innovative customer engagement and company development. She sticks to the culture that consistently drives creativity instead of following in the footsteps of other successful retailers.
Dev Tandon

Thursday, August 27, 2015

How to Nail a Sales Presentation




In their book Start Your Own Business, the staff of Entrepreneur Media Inc. guides you through the critical steps to starting your business, then supports you in surviving the first three years as a business owner. In this edited excerpt, the authors offer some strategies you can use to improve your sales presentations and close more sales.
When your cold calls and follow-up efforts have paid off, and you've made an appointment to visit a prospect in person and make a sales presentation, how can you make sure your presentation’s a success? These steps can help:

Before the presentation

1. Know your customer’s business. Potential clients expect you to know their business, customers, and competition as well as you know your own product or service. Study your customer’s industry. Know its problems and trends. Find out who the company’s biggest competitors are. Some research tools include the company’s annual report, brochures, catalogs, and newsletters; trade publications; chamber of commerce directories; and the internet.
2. Write out your sales presentation. Making a sales presentation isn’t something you do on the fly. Always use a written presentation. The basic structure of any sales presentation includes five key points: building rapport with your prospect, introducing the business topic, asking questions to better understand your prospect’s needs, summarizing your key selling points, and closing the sale. Think about the three major selling points of your product or service. Develop leading questions to probe your customer’s reactions and needs.
3. Make sure you're talking to the right person. This seems elementary, but many salespeople neglect to do it. Then, at the last minute, the buyer wriggles off the hook by saying they need a boss’s, spouse’s, or partner’s approval. When you're setting the appointment, always ask “Are you the one I should be talking to, or are there others who'll be making the buying decision?”

In the customer’s office

1. Build rapport. Before you start discussing business, build rapport with your prospect. To accomplish this, do some homework. Find out if you have a colleague in common. Has the prospect’s company been in the news lately? Are they interested in sports? Get a little insight into the company and the individual so you can make the rapport genuine.
2. Ask questions. Don’t jump into a canned sales spiel. The most effective way to sell is to ask the prospect questions and see where they lead you. (Of course, your questions are carefully structured to elicit the prospect’s needs—ones that your product just happens to be able to fill.)
Ask questions that require more than a yes or no response and that deal with more than just costs, price, procedures, and the technical aspects of the prospect’s business. Most important, ask questions that will reveal the prospect’s motivation to purchase, their problems and needs, and their decision-making processes. Don’t be afraid to ask a client why they feel a certain way. That’s how you’ll get to understand your customers.
3. Take notes. Don’t rely on your memory to remind you of what’s important to your prospect. Ask upfront if it’s all right for you to take notes during your sales presentation. Write down key points you can refer to later during your presentation.
4. Be sure to write down objections. This shows your prospect you're truly listening. In this way, you can specifically answer objections by showing how the customer will benefit from your product or service. It could be, for instance, by saving money, raising productivity, increasing employee motivation, or increasing their company’s name recognition.
5. Learn to listen. Salespeople who do all the talking during a presentation not only bore the prospect but also generally lose the sale. A good rule of thumb is to listen 70 percent of the time and talk 30 percent of the time. Don’t interrupt. It’s tempting to step in and tell the prospect something you think is vitally important. Before you speak, ask yourself if what you’re about to say is really necessary.
When you do speak, focus on asking questions. Pretend you're Barbara Walters interviewing a movie star: Ask questions; then shut up. You can improve your listening skills by taking notes and observing your prospect’s body language, not jumping to conclusions.
6. Answer objections with “feel,” “felt,” and “found.” Don’t argue when a prospect says “I’m not interested,” “I just bought one,” or “I don’t have time right now.” Simply say “I understand how you feel. A lot of my present customers felt the same way. But when they found out how much time they saved by using our product, they were amazed.” Then ask for an appointment. Prospects like to hear about other people who've been in a similar situation.
7. Probe deeper. If a prospect tells you “We’re looking for cost savings and efficiency,” will you immediately tell them how your product meets their need for cost savings and efficiency? A really smart salesperson won’t—they'll ask more questions and probe deeper: “I understand why that's important. Can you give me a specific example?” Asking for more information—and listening to the answers—enables you to better position your product and show you understand the client’s needs.
8. Find the “hot button.” A customer may have a long list of needs, but there's usually one “hot button” that will get the person to buy. The key to the hot button is that it's an emotional, not practical, need—a need for recognition, love, or reinforcement. Suppose you're selling health club memberships. For a prospect who's planning a trip to Hawaii in two months, the hot button is likely to be losing a few pounds and looking good in a bikini. For a prospect who just found out they have high blood pressure, the hot button could be the health benefits of exercise. For a busy young mother, the hot button may be the chance to get away from the kids for a few hours a week and reduce stress.
9. Eliminate objections. When a prospect raises an objection, don’t immediately jump in with a response. Instead, show empathy by saying “Let’s explore your concerns.” Ask for more details about the objection. You need to isolate the true objection so you can handle it. Here are some ways to do that:
          a. Offer a choice. “Is it the delivery time or the financing you're concerned about?”
          b. Get to the heart of the matter. “When you say you want to think about it, what specifically did you want to think about?”
          c. Work toward a solution. Every sale should be a win-win deal, so you may need to compromise to close the deal: “I’ll waive the delivery charge if you agree to the purchase.”
As you get more experience, you’ll become familiar with different objections. Maintain a list of common objections and ways you have successfully dealt with them.
10. Close the sale. There's no magic to closing the sale. If you've followed all the previous steps, all you should have to do is ask for the customer’s order. However, some salespeople make the mistake of simply not asking for the final decision. It’s as if they forget what their goal is!
For some, “closing” sounds too negative. If you’re one of them, try changing your thinking to something more positive, such as “deciding.” As you talk with the customer, build in the close by having fun with it. Say something like “So how many do you want? We have it in a rainbow of colors. Do you want them all?” Make sure to ask them several times in a fun, nonthreatening way; you’re leading them to make the decision.
Entrepreneur Coaching

Wednesday, August 26, 2015

WHAT SUCCESSFUL LEADERS' TO-DO LISTS LOOK LIKE

HAVE YOU EVER WONDERED ABOUT THE TO-DO LISTS OF HIGHLY SUCCESSFUL BUSINESSPEOPLE? HERE, WE GIVE YOU A SNEAK PEEK AT THREE AND THEIR TIPS FOR MAKING THEIR LISTS WORK.
If you’re a list-maker, behold the to-do list and productivity secrets of these business superstars.
Jim Koch

JIM KOCH
FOUNDER, BOSTON BEER COMPANY, BOSTON, MASS.

My day moves fast, and is often dictated by priority items from various internal teams. Each morning I keep myself on track by writing down three to five of my must-do items for the day on a Post-It note. (I used to use a small notepad but when I spilled beer on it, I wiped out a bunch of pages. If I wipe out one Post-it, it’s easy to grab another one.)
These are important, but not necessarily urgent items. Once my day gets going, I keep the list close by as a reminder—it’s easy to let these sit or delay and put them off for another day, but I make it a priority to cross them off my list before the end of each day.
At the beginning of the week, I make sure I don’t have more than five e-mails in my inbox even if it means getting it done Sunday night. I also try to address e-mails as soon as they come in, knowing that the longer it takes to reply, the longer it will take to resolve whatever issue or question is raised. Waiting "until I can get to it" means it will take more, not less, time.
It helps me think, and increase my productivity when I stop and take short breaks during the day. I often turn off my computer screen to escape from email hell. There’s a hardware store close by, so I often go down there to check out the tools or pick up something that I might need at home. Often my dilemma, issue or idea is solved by the time I get back to my desk. And I’ve got a cool new color of duct tape.
Barbara Corcoran

BARBARA CORCORAN
FOUNDER, BARBARA CORCORAN, INC. AND "SHARK TANK" INVESTOR

I organize my list in sections, mostly because of time constraints. First are the calls. A call is something I feel like a want to make or I promised a friend I’d make it. It’s typically two or three calls. I put it upfront because I don’t want to lose sight of it.
Next is the review section, which is quick things. It might short tasks, answering questions like ‘Do you want to do that satellite tour?’ or others. The paperwork related to it is attached to the list, so I can just do a quick review and get it out of the way. I try to get these done within the day, but they’re not listed in any priority.
The third section is the project list. That’s where the gold is. These are the things that will make me money and that will move the business forward. I prioritize those as A, B and C and they vary from working with any one of the companies I’ve invested in on Shark Tank or other things I think are very important. It’s an A on the list if it’s important and there’s only a limited time period to get it done. Even if something is very important, it will move to a B if it doesn’t have to get done today.
Click to expand
The list is always too big. What’s scary is when a list is too small because the means I’ve been busy enough that I haven’t had any time to reflect on anything. The more time you have to reflect, the bigger the list grows, especially in the project area because you start to think of new opportunities you don’t want to lose sight of. And while I’ve tried different online to-do lists, I cannot work off of a to-do list that isn’t written or typed. The delete button will never give you the kicks that crossing off tasks will give you.
Jim McCann

JIM MCCANN
FOUNDER AND CEO, 1-800-FLOWERS.COM, INC. AND AUTHOR OF TALK IS (NOT) CHEAP: THE ART OF CONVERSATION LEADERSHIP

I’ve been a list-maker most of my professional life. I ran a home for teenage boys and started my flower business on the side. The man who was my mentor at St. John’s Home in Queens New York was crazy list-maker. He was extremely buttoned up and most organized person.
I followed his example and used a particular pad that had "Things I Have to Do Today" printed on it. When the Dallas company that made them went bankrupt, I had my assistant track them down and buy four cases of those pads. Now, I use a combination of digital and a note pad.
I have several lists: There’s a "things I have to do today" list, a more general to-do list, a projects list and a long-term ideas list, which are major things we have said it’s important for the company to achieve this year. I jot things down to remember them, but before assigning them to a list, I think about a few things. Does it have to get done today? We have lots of good ideas. Some make it to the projects or the longer-term ideas list.
The team reviews these lists regularly to determine if they’re still good ideas or things that have to get done. If not, we replace them with new ones. Lists help you look at how you’re spending your time. It’s easy to be busy and a lot harder to be effective.
Gwen Moran

Tuesday, August 25, 2015

7 Attributes of an Extraordinary Entrepreneur





Ashton Kutcher made headlines at SXSW this year when he announced the launch of a new investment fund with business partner Guy Oseary. But Kutcher and Oseary are not new to the startup game. In fact, Kutcher made early investments in Uber, Airbnb, and Spotify, showing a keen eye for investing in promising startups. When CNBC’s Maria Bartiromo asked Kutcher what he looks for in new companies, one of his answers was “extraordinary entrepreneurs."
What creates an “extraordinary entrepreneur” in the eyes of an investor? As Founder and CEO of Foxwordy, a startup that is the first private social network for lawyers, as well as a member of one of the largest angel investor groups that invests in Silicon Valley startups, I’ve found there are key qualities that attract investors’ attention and lead to strong, lasting investor/entrepreneur relationships.  
Here are seven key attributes of extraordinary entrepreneurs:

1. Strategic 

When it comes to your funding strategy, there are three schools of thought. One approach is to take only those investments you currently need, while the other approach is to take as much investment as you are able to get. Yet another approach is forget fundraising and focus on building the best business you can and the money will come. While there are pros and cons to each approach, what’s important is to figure out which one makes sense for your venture and stick to it. Defining your strategy in advance helps avoid setting yourself up for unmet expectations or taking your eye off the ball when it needs to be on the product or the business.

2. Frugal

Whatever funding you have must be used wisely. Spend your investors' money as if it were your own. Even better, have it be your own. I am a strong believer in the importance of entrepreneurs investing their own money into their own companies, and it is something investors are bound to appreciate and respect. WhatsApp, for example, hardly spent any of the $8M they raised from early investors, because they didn’t need to, although they certainly could have. Spend when you need to do so and save when you don’t.

3. Expert

Investor Mark Birch explains that prior domain expertise is not always a prerequisite to startup success. However, Birch cautions, “You can’t simply Google and Wikipedia your way to expertise, it requires time, research, talking to knowledgeable people and digging deep into the guts of the matter.”
Indeed, if you are new to your startup’s industry and don’t have the necessary domain expertise, you’ll need to invest time in building knowledge and networks, as well as focus on making key hires that bring domain expertise to the table. Zipcar founder Robin Chase, for example, talked about how she started a car company, yet knew nothing about cars. She made a smart move by hiring a VP of Operations who had deep experience with Hertz. 

4. Decisive 

Investors want to see that you have the backbone to deal with the difficult decisions that inevitably will arise. From having to fire family members to deciding whether to expand from a single location to multiple locations, entrepreneurs face tough calls on a routine basis and how you deal with those decisions demonstrates your leadership abilities.

5. Transparent

Authentic communication is imperative to building trust in any relationship, especially between entrepreneurs and investors. Provide transparency via regular reporting and be sure to share the ups as well as the downs. Investors know how challenging it is to build a new business and open, honest communication about challenges and successes is key.

6. Persistent

You’ve heard it before and it’s true: never give up! Investors want to see determination. In fact, how you deal with setbacks can be the very thing that sets you apart in the eyes of investors.
Richard Branson says, "many venture capital investors evaluate potential partners on how they reacted to a failed business, seeing it as a test of character, rather than a mark against them." The "key," according to Branson, is how entrepreneurs bounce back.

7. Open to advice

Don’t be afraid to connect with potential investors for input and advice. Many investors are entrepreneurs themselves and have immense knowledge and experience to share. Rather than demonstrating uncertainty or lack of knowledge, asking for advice shows a willingness to learn and consider multiple points of view. Doing so may also open the window of opportunity for funding. As Datanyze CEO Ilya Semin noted, "If you want advice, ask for money. But if you want money, ask for advice."
Is there a secret formula to being an "extraordinary entrepreneur"? Probably not. But adopting these seven attributes can certainly help you get recognized for the entrepreneur you are. Moving forward, demonstrating these key qualities will go miles towards ensuring the ongoing relationships with your investors are amazing.
Monica Zent

Monday, August 24, 2015

14 Inspirational Movie Quotes for Entrepreneurs




We recently decided to “cut the cord” at our house, meaning we spend a lot less time watching live TV and more time watching movies. Recently while watching some of my all-time favorite movies, I picked up on some great quotes that extend beyond the plot of the movie to my real life and my personal journey while working at a startup over the past two years.
If you are thinking about joining a startup or creating your own business, here are 14 quotes that will surely transfer from the silver screen to the startup stage.
Lights, camera, STARTUP!

1. "Find a truly original idea. It is the only way I will ever distinguish myself. It is the only way I will ever matter." 
-- John Nash in A Beautiful Mind


Image credit: A Beautiful Mind | Imagine Entertainment
If you are going to build a company, set out to do something nobody else has done before. If you are working to solve real pain for real people, you will truly distinguish yourself from the competition.

2. "Do, or do not. There is no try.”
-- Yoda in The Empire Strikes Back


Image credit: Star Wars | 21st Century Fox
Either you will or you won’t. You are not in a position to try. Your employees, customers, partners and shareholders need you to do a lot more than try. You will succeed or fail based on how well you are able to execute your vision -- and that requires a lot of “do”.

3. “Don’t tell me I can’t do it; don’t tell me it can't be done!"
-- Howard Hughes in The Aviator


Image credit: The Aviator | Warner Bros. Pictures
Along the way you are going to hear from a lot of naysayers. People who are skeptical or don’t have the fortitude to do what you are trying to do. If it were easy, everyone would do it. Don’t let the insecurities of others hold you back.

4. “This sh*t’s chess, it ain’t checkers!”
-- Alonzo Harris in Training Day


Image credit: Training Day | Warner Bros. Pictures
One of two chess related quotes on this list, and that is because chess is grounded in your ability to execute on a well-thought strategy. You are in a battle of strategy when you begin your company. Is your strategy going to play better than others? Do you have the right pieces in the right places at the right time on the board? If you understand the game you are playing and how you win, you will be around to play a lot longer than your competition.

5. “The loudest one in the room is the weakest one in the room.”
--  Frank Lucas in American Gangster


Image credit: American Gangster | Universal Pictures
You will find out soon that talk is cheap and actions are what you should value. The person who is loudest, the person who tries to “own the room” and generally just loves to hear themselves talk, often is the one who produces the least amount of value. Look for and build around the people who stay focused solving problems with others (vs. just talking about them).

6. “Just keep swimming.”
-- Dory in Finding Nemo


Image credit: Finding Nemo | Pixar
You will have good days and you will have bad days. Some days, you just need to keep swimming. Even if you are swimming against the currents, and it feels like you are not making progress, you are in fact moving forward. 

7. “I’m going to make him an offer he can’t refuse.”
-- Don Corleone in The Godfather


Image credit: The Godfather | Paramount Pictures
You are going to be doing a lot of negotiating. You will be securing new partnerships and working to recruit top talent. What can you offer that nobody else can offer? If you are selling  

8. “If you build it, he will come.”
-- The Voice in Field of Dreams


Image credit: Field of Dreams | Universal Pictures
If you build something truly great, you will find that your customers will not only use your products, they will rave about it to others. That is why you need to focus so much on what you are building and the value you provide. Once you can provide long-term value you will be able to scale your business in a very robust and meaningful way.

9. “The key to this business is personal relationships.”
-- Dickie Fox in Jerry McGuire


Image credit: Jerry McGuire | Tristar Pictures
From customers to partners to employees, many times success comes down to one thing: the people. To build a great company you need to find great people. If you don’t nail that you are going to be fighting an uphill battle.

10. “Life’s this game of inches. So is football. Because in either game, life or football, the margin for error is so small -- I mean one-half a step too late, or too early, and you don’t quite make it. One-half second too slow, too fast, you don’t quite catch it.”
-- Tony D'Amato in Any Given Sunday


Image credit: Any Given Sunday | Warner Bros. Pictures
On any given day, the success of a startup hinges on so many different factors, with the margin for error being incredibly small. You need to understand the decisions that will make our break your business so you can put yourself in a position to execute them with precision and focus. Don’t allow yourself to get distracted.

11. “Even a good decision if made for the wrong reasons can be a bad decision”
-- Governor Swann in Pirates of Caribbean


Image credit: Pirates of The Caribbean | Walt Disney Studios
The decision-making process of a startup is one of the most important parts of the culture. How do you make decisions? What are your principles? Are you making decisions that yield short-term gain but create long-term pain? If you are not making decisions for the right reasons, then you may find that decision will create more trouble later on.

12. “Don’t move until you see it.”
-- Bruce Pandolfini in Searching for Bobby Fischer


Image credit: Searching For Bobby Fischer | Paramount Pictures
Patience is not always an easy trait to maintain. Sometimes you need to be opportunistic and strike at a moment’s notice. But you also need to have the patience to see the pieces come together. Look beyond the existing move, so you can see the ones that come after it.

13. "Well, if you'll excuse me, I must leave now. Mr. Corleone insists on hearing bad news as soon as possible.”
-- Tom Hagen in The Godfather


Image credit: The Godfather | Paramount Pictures
At Porch one of the values we admire most is transparency. The runway to success is too short to waste time not sharing everything people need to run the business. If you miss on a key performance indicator or you get critical product feedback from a customer that could improve your business, don’t hide it or sweep it under the rug. Embrace it, acknowledge it and grow from it.

14. “We’re going to change the game."
-- Billy Beane in Moneyball


Image credit: Moneyball | Columbia Pictures
At a startup one of the greatest feelings you will have is knowing your product, service or business is going to change the world. As noted in the first quote, if you are solving real pain for real people, you have the chance to create something long lasting and durable that will literally change how people live their lives. 
Craig Cincotta

Thursday, August 20, 2015

What's the Difference Between Business Casual and Smart Casual? A Handy Guide on How to Dress. (Infographic)




If you think black tie means Chucks with a tux, you’re doing it all wrong. Or are you? Deciding what to wear when to which event -- so you don’t end up looking clueless -- can be overwhelming for the fashion-challenged. But, with a little help, it’s not so bad.  
Wouldn’t it be nice if there were a quick and dirty cheat-sheet you could refer to before hobbling together your outfit for your next important soirĂ©e, interview or meeting? A dress codes 101 decoder, for him and her? Lucky for you there is. Check the informative infographic from Mannix Marketing below. It covers everything from casual to business casual, to business formal to black tie and beyond. (Do us a favor and ignore the weird Homer Simpson reference at the top, okay? Yeah, it threw us for a loop, too.)
So, yeah, not all dress codes are created the same. If the occasion, or your office -- lucky you! -- calls for your basic no-brainer casual, breathe a sigh of relief and reach for your favorite T-shirt and jeans combo. The clean ones, people. Not the stinky wrinkled ones in the hamper. Do we really have to go over this? We’re starting to sound like your mom.
If business casual is the mandate, classy dress pants and a crisp, collared shirt or blouse should do the trick. Top it off with a snazzy pair of dressy shoes and you’re set. The authors of infographic, notably not personal stylists, nor fashion designers or editors, suggest you slip into khakis, the safe choice, for biz casual, but we’re not so sure. Do people even wear khakis anymore? In some places, a nice pair of jeans will fit the business casual bill, as long as you dress them up with a nice top.
Then there’s “smart casual,” whatever that is, and business and business informal. And semi-formal, formal and black tie. Confused yet? Time to conveniently refer back to the handy how-to below. Running potential outfits past your best-dressed friend ahead of time helps, too. Good luck, champ. Knock ‘em dead. Whatever you wear, you probably look better than you think.  
Can You Guess the Largest Companies by Revenue in Each State?(Infographic)
Kim Lachance Shandrow

Tuesday, August 18, 2015

5 Marketing Lessons Learned Watching Donald Trump Run for President




Donald Trump has taken over the 2016 Republican presidential primary campaign. Whether you agree or disagree with him, there’s no denying that his candidacy has been a powerful force in the race and has commanded a great deal of media attention.
Time will tell whether Trump’s campaign will be successful in winning the nomination, but he’s already been very successful at generating headlines. Despite his brash demeanor and highly questionable (some would say “hateful” or “stupid”) statements, as of this writing, Trump just keeps rising in the polls.
Regardless of what happens with Trump’s presidential campaign, he’s already a winner in the constant battle for public attention. Here are a few marketing lessons from Trump that any brand or political cause can emulate:

1. Know your audience.

Donald Trump doesn’t care if you love him or hate him. He’s playing to a very select crowd of voters who believe in his message and who want to support him. There’s something about Trump’s tough-talking “I don’t care what the experts think” attitude that appeals to Republican primary voters in 2015. Lots of Republican primary voters are feeling frustrated and are passionate to take back the White House. Trump is giving voice to feelings that are widely shared in that political party.
In the same way, your brand doesn’t have to appeal to “everyone.” Know your target market and speak to their concerns in a relevant way.

2. Know your brand.

Love him or hate him, Donald Trump knows who he is. The Trump that we’re seeing on the campaign trail is well known to New Yorkers (I’m a native New Yorker myself). We have watched him for decades become famous as a New York real estate developer, bestselling author and TV reality-show contest business mogul on “The Apprentice.” Trump hasn’t changed. He’s just talking about politics now instead of business deals. But he’s always been bold and brassy, with a take-no-prisoners attitude.
The lesson: Your brand needs to stand for something. Lots of people are not fans of Trump, but even people who oppose his candidacy find themselves grudgingly admiring the consistency of his brand message. What you see is what you get.

3. Be audacious.

Trump has said a lot of outrageous things during the campaign, from inflammatory remarks about Mexican immigrants to accusing John McCain of not being a “war hero,” but every new media gaffe or media whirlwind just seems to boost his performance in the polls. The reason: Trump’s core supporters respect him for speaking his truth, even if he’s not saying it in a polite, genteel way.
Most political candidates are so polished and focus-grouped that it’s almost impossible for their real feelings and emotions to come out. Trump is in your face, every day, with unvarnished depictions of life as he sees it. He’s not afraid of what anyone thinks about him, and it shows.
The lesson: Don’t be afraid to really stand for something as a brand, even if it’s controversial. Too many companies try to be blandly inoffensive in a failed attempt to be “mainstream” and appeal to “everyone.” It’s better to be memorable, even if you lose some customers who don’t “get it,” as long as you keep appealing to the niche market of customers who love you the most.

4. Trust yourself.

Trump doesn't follow focus groups. All candidates these days test out their message, trying to find the right combination of words and issues to appeal to the right demographic segments of voters. But often, candidates end up sounding excessively “focus-grouped.” The real human connection of the candidate gets lost in trying to appeal to too many people. Trump seems to be resonating with conservative Republican voters because he’s so unrehearsed and unpolished -- he’s not afraid to speak off the cuff. Every day on the campaign seems like he’s just really talking about whatever is most urgently on his mind at that moment.
The same goes with your product. It’s good to do some market research to find out whether a new product is viable, but it’s even more important to trust that you have a good idea. If you feel that way, trust that others will feel the same. I've seen so many great ideas become convoluted and watered down, when there are too many cooks in the kitchen. If you try to make your product appealing to everyone, you’ll ultimately end up appealing to no one.

5. No apologies.

Trump is like no one else we’ve seen in presidential politics in recent years. He seems to have absolutely no sense of regret or shame. He says what he says, he calls it like he sees it, and then he moves on, ignoring the critics. Has Trump ever apologized for anything? He seems incapable of admitting to mistakes or being wrong.
This raises an interesting question for your brand: when should you apologize? If a customer has a bad experience with your product, should you apologize? Or should you just give them a refund and move on, writing it off as “Well, they’re not the right kind of customer for us?” If someone is offended by or misunderstands something your company posts on Twitter, should you apologize? Should you ignore the critics, or try to learn from them?
It’s hard to know when to draw the line. If you apologize too often, you’ll find yourself catering too much to customers who really don’t understand the value of what you offer. But if you don’t apologize when an apology was really warranted, you might damage your brand. You have to toe the line between maintaining your brand reputation and doing the right thing. Don't spend all of your energy on trying to make bad customers happy.
Trump embodies the purity of a certain kind of bold, no-apologies approach to doing business. He’s almost Zen-like in his clear-headed refusal to get bogged down in details of saying “sorry.” He just keeps moving forward and on to the next deal. There’s something so refreshing about that, but not all brands can pull it off.
Whether you’re voting for Trump or not, there’s no denying that he’s a fascinating one-of-a-kind figure in American politics and business. You don't have to become like Trump to learn from how he’s marketed himself and built his brand.
Gregg Schwartz