When you are thinking about starting your own business, there are so many things that you will probably want to make sure you get right about it. However, much of that is going to be simpler to achieve if you are at least approaching the whole situation from the right point of view. But what does that mean? In this post, we’ll look at this in more detail, including some information on the kind of mindset that generally helps entrepreneurs to succeed with their business ventures. You should find that these are really worthwhile things to bear in mind.
Positivity & Hope
Arguably the most important element to the right mindset in business is that it has a decent amount of positivity and hope. The more positive you generally feel about the business, your own abilities, and so on, the better, so this is certainly the kind of thing that it can be helpful to have a lot of. That is of course easier said than done, but as long as you practice being positive, you’ll actually find it happens a lot more easily for you. You can then build on that in the future more and more.
Willingness To Learn
Being willing to learn is likewise very important. As long as you are happy to learn again and again and at all times, that is going to mean that you have a much better chance of actually doing well in your business, which is obviously what this is all about. In particular, you need to be open to different ideas about how to start a business, how to run a business, and what counts as success and failure. This is something that can really help a lot, so it’s vital that you are happy to do it as best as you can.
Acceptance Of Bad Moments
There are always going to be bad moments along the path of building a business. That is something that every other business leader in history has experience, and it’s really just part and parcel of how running a business goes. So the thing to remember is that you need to accept those moments as fully as possible, so that you can move beyond them so much quicker and easier. If you are able to do that, it’s really going to help you out a lot in terms of having the ability to carry on.
Keen To Help People
Most good businesses are offering something that helps people. You might want to earn a profit and be the best in your field, but you should also, hopefully, be driven by a genuine desire to make something easier for people. As long as that is the case, it’s going to mean that your ability in business is a lot easier, and that you feel a lot better about how to run your business too. All in all, this turns out to be a very important part of being a business owner, so it’s something to remember.
https://www.strategydriven.com/wp-content/uploads/pexels-cottonbro-studio-4065137.jpg6751200StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2022-11-10 16:00:042022-11-10 15:53:38The Best Mindset For Starting A Business
A few days ago, a friend asked me what has changed in enterprise sales in the last few years. My answer was: “Everything. And nothing.” Let me explain.
The enterprise sales practice has been highly affected by technological change, in a mostly positive manner. It has also been upended by the recent coronavirus pandemic. So, selling in 2022 has been almost completely turned upside-down. On the other hand, sales is still sales – and it is all about gaining the trust of the buyer with a product or solution that will fulfill their needs.
My History in Enterprise Sales
I began my sales career in the late 1970s when there were no personal computers or mobile telephones. I remember looking for pay telephones wherever I traveled and when I was on jury duty. The sales cycle consisted mostly of responding to inquiries from prospects interested in upgrading their first-generation software systems. Normally, after a short qualification call, we would visit with the prospect to determine what their needs were, and again later for a formal presentation. The evaluation team usually consisted of 2 to 4 people, led by either an Information Technology (IT) or a user contact who was most familiar with the current system and needs. The sales cycle was usually from 3 to 6 months in length. There were competitors, but enough business for all of us.
Then the IBM personal computer was introduced in late 1981, followed by the Compaq portable personal computer in early 1983. That provided two significant changes: 1) Applications were written to take advantage of the personal computer, which allowed for departmental usage. Now the company’s various departments no longer needed to fight in the IT priority queue list. 2) Vendors could conduct live presentations of their products, or slick slide presentations, in front of their prospects. Enterprise selling changed, for the better, as a result. And as more and more staff became familiar with the usage of personal computers, they gained a greater understanding of the positive benefits of using a third-party product that was supported by a reputable supplier.
The typical sales cycle stayed mostly very stable from the mid-1980s into the 2000s. Enterprise systems became more integrated, and several larger global organizations emerged as the leaders in enterprise applications. The products gained in functionality and became more expensive. Consulting organizations were often required to implement them.
And Then Along Came …
And then the world encountered the coronavirus pandemic in early 2020, which shut down the economy. Employees no longer went into their office and telecommuted. Suppliers were not allowed to visit the company. The whole sales paradigm had to be changed on the spot – without any prior planning.
Prospects for 2023
Now, as we go into the new year, sellers must make the following 8 adjustments:
Selling is not going back to the way it was before the pandemic. Companies, both sellers and buyers, have adapted to the new paradigm of limited access and less visits, and fewer visits to meet in person. Sales pros need to adapt their sales cycles and methodologies to the changing environment of limited access to the buying teams and fewer opportunities to meet in person to succeed. In addition, buyers are also not as available as they once were to all suppliers, even virtually.
The marketplace has become more digital and social media is now where most buyers (especially millennials) are doing research.
Buyers tend to be far more educated on what is available in the marketplace now. However, the best sales pros will still provide value in the form of the latest technology industry trends to buyers.
Sales pros must provide compelling value propositions to gain the attention of the buying team.
Sales pros must become masters at using videoconferencing technologies, such as Zoom and Skype. This requires understanding how to optimize the video experience, including lighting and sound, but also etiquette.
Companies need to make drastic changes to their websites and marketing collateral to recognize the change in the digital marketplace. Printed material is not as important as how the company presents itself on its websites and social media.
Sales managers need to do a much better job at onboarding and coaching in this new environment. All new hires and underperforming sales pros must receive immediate attention because I anticipate many will struggle with the changes.
Socially conscious purchasing has become more important in the post-pandemic area. Sellers need to understand that they need to communicate what their company is doing to make the world a better place.
What About the Recession?
A recession adds challenges to the sales environment. Companies typically cut back on non-essential purchases and hold off on filling open staff requisitions. But companies still need to fix broken systems, such as a supply chain issue, and obey compliance issues and federal and state regulations, such as for OSHA, EPA, SEC, and OFEC. Therefore, if you are selling a solution in this area, you must emphasize the costs of not addressing the problem or non-compliance.
Providing a compelling value proposition is more important than ever. Be sure to work with the buying team to prepare a presentation that proves the value of your product or solution to their executive management.
An effect of recession on sales cycles is that larger expenditures may require additional justification. Sales pros need to work with the buying team, and perhaps their finance staff, in computing a positive return on investment (ROI) that is substantially beyond a beak-even.
Also, it may be helpful if you can provide financing solutions to the buyer.
Sales Basics Still Apply
Sales pros still need to excel at:
business development (generating leads)
better qualification of the leads, questioning to assess the buyers’ needs and linking them to your product or solution
providing informative presentations within tighter time constraints
following up with all buying influences
addressing all objections (without trying to invalidate them)
building trust with the buying team
All of that has not changed. But sales pros need to be more competent at these skills than they were even as recent as 5 years ago. And companies have become less patient with lower performers.
On the Positive Side
We have entered a new marketplace and those sales pros who adapt to the changes will prosper. Buyers are far more educated and discerning in the digital marketplace. This should result in shorter sales cycles. Sellers should be able to find more qualified prospects, as only the more serious buyers will provide them with any time to discuss their needs and review proposals. There will be fewer “tire kickers.” Sellers also can use the latest technology to emphasize how they can provide value to the buyer.
We saw drastic changes to enterprise sales in 2020 -2022 due to the coronavirus pandemic. These will continue to remain in affect in 2023. Sales pros need to understand the implications of the changes to be successful.
About the Author
Steve Weinberg has spent his life selling and helping others sell better, sell faster, and sell more. He is an expert at building, guiding, and sustaining high caliber sales teams, and creating exemplary standards in account management. He has over three decades of leadership experience in sales, including Vice Presidencies at Dun & Bradstreet Software, AC Nielsen, Solcorp (then part of EDS, now HP), and Deloitte and Touche. Steve earned a B.A. in Economics / Business Administration from North Park University, and an MBA from Loyola University of Chicago. He is also a CPA and has experience in accounting, consulting, and as a graduate-level Economics instructor. He is married and has two adult children. He is the author of Above Quota Performance (Armin Lear Press, 9/20/2022). Learn more at https://www.steveweinbergsales.com/.
https://www.strategydriven.com/wp-content/uploads/pexels-linkedin-sales-navigator-2182981.jpg8191200Sharon Kastorianohttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngSharon Kastoriano2022-11-09 07:00:062022-11-09 01:32:31The New World Of Enterprise Sales
Corporate events happen all the time. They’re part of moving businesses forward. Whether you need an event space for a charity ball or a product launch, make sure you’re clear on your objective for the event before choosing a venue. And if you’re wondering what kind of event to host, here are some suggestions.
1. Conferences
You don’t have to look far for the perfect corporate event venue in Utah to hold a conference. Conferences take a lot of organizing, but when the attendees all get great information that they can apply to any area of their lives, vendors get to promote their businesses and speakers get to motivate, educate and uplift conference goers, it is all worth it.
2. Seminars
The main point of a seminar is to provide education to a group of people. Seminars are a part of almost any profession you can think of, from farming to medical device sales. There’s typically a need for plenty of audio and visual technology, so be sure that the venue can accommodate this.
3. Trade Shows/Expos
Trade shows are a great chance to showcase a specific industry. Think about a car show where all of the automakers have the opportunity to show off their newest models. There’s also a lot of networking and entertainment to go with this flashy type of corporate event.
4. Product Launches
There’s nothing more exciting than rolling out a new product. Apple makes a huge production out of it every other year or so.
5. Team Building Events
This type of event aims to better harmonize employees. It’s supposed to be a fun way to promote professional development while emphasizing connection and innovation.
6. Board Meetings
Although board meetings don’t require a whole lot of space, the right event space can make it feel a little bit less like mundane business. Holding a board meeting away from the typical office space can allow members to think a little differently about new initiatives and objectives as well as ways to update shareholders and members about a company’s current standing.
7. Continuing Education
Professional development is a must in any industry. Things change all the time and being able to keep up with current industry standards is paramount to being productive and effective. That’s why workshops and courses are such a wonderful addition to any business.
8. Charity Events
Interacting with the community is the objective of charity events. Whether it’s a dinner or an auction, it’s a way to strengthen the ties between a business and the community it depends on.
9. Networking Events
These are typically not a small and intimate type of event. The goal is to allow people in the same industry or potential clients and businesses to mingle, build connections and raise awareness.
10. Year-End Parties
The end of the year brings a lot of festive occasions. Although some holidays pertain to folk of a certain ideology, New Year’s Eve is generally celebrated by everyone. Not only are these holiday pirates fun, but they‘re also a time to celebrate achievements and thank employees for their contributions.
Now that you’ve got plenty of ideas for your next corporate event, you can get busy on creating the kind of corporate event that is going to best move your business forward. These types of events do take a lot of organizing and production, but the right venue can take some of that strain from you.
https://www.strategydriven.com/wp-content/uploads/pexels-riccardo-301930.jpg8001200StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2022-11-08 16:00:552022-11-08 14:07:2710 Types of Corporate Events You Could Be Organizing
So you want to be an entrepreneur? You have a great idea for a business and you’re ready to make your mark on the world? But before you quit your day job and jump headfirst into startup life, there are a few things you need to know. As much as you can see great leaders out there making a lot of money in business, it’s not always that easy to do. Being in business is a lot of work and so, it’s always a good idea to be prepared for that and to know exactly what you’re getting yourself into (as much as possible).
In this blog post, we’re going to take a look at the ten things you need to know about (and before) starting a business. So if you want to work out if this venture is for you, grab a cup of tea, get comfortable, and start reading!
Why is the Entrepreneur Lifestyle so Alluring?
For many people, the prospect of being their own boss and setting their own hours is incredibly appealing. The appeal of the entrepreneur lifestyle is easy to understand. After all, who wouldn’t want the freedom to work on their own terms? However, there’s more to it than that.
The entrepreneur lifestyle also offers the opportunity to forge your own path and create something that is truly your own. In a world where so many people feel like they’re just a cog in the machine, the chance to be your own boss and make your own decisions can be incredibly appealing.
Of course, the entrepreneur lifestyle isn’t for everyone. It can be unpredictable and stressful at times. But for those who are up for the challenge, it can be an immensely rewarding experience.
What You Need to Know About Entrepreneurial Life
So now we’re actually going to dig into the details of life in the world of business. Although it has many pluses, there are things that you really need to know in order to understand whether this path is right for you. Let’s take a look at the good, the bad, and the ugly.
1. It’s Not All Glamorous
Being an entrepreneur is a lot of work. Don’t let anyone tell you otherwise. Yes, it can be exciting and rewarding, but it also requires long hours, dedication, and sacrifice. Be prepared to put in the hard work if you want to be successful. There’s no such thing as an overnight success—even if that looks to be the case. It’s a long journey that isn’t always uphill. So prepare yourself for a wild ride.
2. You’re Going to Make Mistakes
And that’s okay! Making mistakes is part of the learning process. What’s important is that you learn from your mistakes and use them to improve your business. It doesn’t matter what happens or what seems like the biggest failure—the only thing that matters is your reaction to it. Learn from what happens, apply it to your business, and see success as a result!
3. It’s Not Just About the Money
Yes, making money is important, but it shouldn’t be your only goal. Passion is what will keep you going when times are tough, so make sure you’re passionate about your business and its mission. The money won’t get you out of bed in the morning—drive will. So make sure that you start something that lights you up and makes you excited about being in business.
4. You Need a Support System
Building a successful business takes a team effort. Surround yourself with people who believe in you and your vision. This could include family, friends, mentors, employees, investors, and so on. As much as you may be alone in the beginning (this is where the family and friends aspect comes in), you can then start to hire staff, get mentors, and take on investors over time. As your team starts to grow, so will your business!
5. You Have to Believe in Yourself
If you don’t believe in yourself, no one else will. Believe in your idea and have faith that you can make it happen. This positive attitude will help carry you through tough times. Most of the time, when it looks like you’re about to fail, the success you’re looking for it only one step away. And it’s that self-belief that will keep you going!
6. Be Prepared for Setbacks
There will be bumps in the road along the way to success—but don’t let them get you down! When we choose to see setbacks as opportunities to learn and grow, the game changes. You will lose money, have customer issues, have to give refunds, and so much more. It’s just part of the game. But it helps if you can be prepared. Choose to learn more about Visa Rapid Dispute Resolution, understand how to improve your customer service, and always make sure that you have a contingency fund, just in case anything goes wrong!
7. Know When to Ask for Help
Asking for help doesn’t mean you’re weak or incapable—it just means you’re smart enough to know when you need assistance. Don’t be afraid to reach out to others for advice or guidance when needed. This is where the idea of having a mentor can come in handy. It’s all about learning from someone who’s a few steps ahead of to so that you know what you’re doing in moments when things feel hard or confusing.
8. You’ll Need Thick Skin
Entrepreneurship isn’t for the faint of heart! You’ll need to develop a thick skin if you want to make it in this competitive field. Be prepared for rejection and criticism—and learn how to use it constructively to improve your business. You will have your highs and your successes, but there can be a lot of hurdles to get there and you may fall down from time to time. Being able to brush it off and keep going will drive you to where you want to be.
9. You’ll Work Long Hours
Expect long hours, especially in the beginning stages of starting your own business. As much as you can see some entrepreneurs online that work a few hours a day for millions a year, it never started off that way. These people put the graft in early! When you’re still working a job, that means early mornings and late nights. It can still mean both even when you quit your job to take your business full-time. Remember—you get out what you put in!
10. It’s Not Going to Be Easy
Building a successful business takes time, energy, dedication, and determination. It’s not going to happen overnight, so don’t get discouraged if things aren’t moving as quickly as you want them to. Rome wasn’t built in a day and neither is a thriving business! Have patience, stay focused on your goals, and never give up on your dreams. If you keep these things in mind, you can achieve anything you set your mind to! And remember, the harder you work the luckier you get!
Are You Ready For it?
Entrepreneurship is not for everyone, but if it’s something you’ve been thinking about, this blog post should be able to give you some insight into what to expect. It’s absolutely hard work to run your own company—but it’s also very rewarding. Just remember these key points, stay focused, give yourself some grace, and go out there and achieve greatness. It’ll be worth it!
https://www.strategydriven.com/wp-content/uploads/word-image-211966-1.png11601740StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2022-11-07 17:00:322022-11-08 14:11:3010 Things Every New Entrepreneur Needs to Know About Business
Venture capitalists and tech startups are often inseparable. Venture capital investors provide tech startups with financing to facilitate their growth. Below is a list of proven ways to raise venture capital for your tech startup.
Sell Your Idea
Tech companies produce unique services and products, but it’s not always easy to assess the impact they may have on the world. It would help if you pitched your idea well to capture the attention of venture capital investors. Ensure you develop a plan to have venture capitalists on board to facilitate the growth of your tech startup. Brad Kern says you should explain what you’re offering and why your idea is ground-breaking to improve the chances of securing venture capital. If you aren’t a salesperson, ensure you hire an expert who understands your products and can describe the product’s unique qualities.
Show That Your Tech Startup Is a Money Spinner
The primary goal of a venture capitalist is to invest in businesses that promise an excellent return on investment. Most venture capital investors finance a venture for four to six years. When the grace period expires, most venture capitalists want to leave with extra cash than the one they invested. It’s a considerable risk, so most of them do due diligence on your business before releasing the funding. Ensure you prepare thoroughly by crafting an effective business plan before approaching venture capital investors.
To secure venture capital for your tech startup, you must develop a long-term business plan and reveal it to potential investors. Develop financial predictions, updated accounts, and a comprehensive business model showing how your tech business will grow within a few years. Venture capital investors will assess how you intend to secure your intellectual property rights for the hardware or software you intend to produce.
Reveal That You Are Aware of Your Competition
Whether developing recyclable electric car batteries or boosting the autonomous vehicle market, there are other startups that always solve the same problem in this industry. Ensure you’re upfront regarding your competition to have the upper hand. You must show why you think you should be the first to exist comfortably or the first to market the products to ensure they remain competitive in the market.
Demonstrate the Strength of Your Team
Your service or products may be excellent, but you must show that you have a solid management team that will drive your tech startup to become a market leader. Employ effective and clever marketing techniques to position your products above competitors. Venture capital investors will assess whether you have a winning team knowledgeable on multiple ways to network and create value for your products. Venture capitalists will likely participate in your board of management meetings, and some want control over your startup operations. They will want to work with a solid team that is promising before they invest their money. If you seem too controlling, you may put venture capital investors off.
Identify Venture Capitalists
Review the websites of venture capital firms to establish whether your tech industry will attract prospective investors. Assess the investment criteria and areas of focus of potential investors. Some VC firms have mandates barring them from funding industries outside the target industry. Ensure you seek venture capitalists who have interests in your field.
Venture capital investors tend to invest their money in tech businesses. Follow the listed tips to improve your chances of securing venture capital investors.
https://www.strategydriven.com/wp-content/uploads/pexels-rodnae-productions-7414274.jpeg8531279StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2022-11-07 16:32:282022-11-07 16:32:28How to Make Your Tech Startup Attractive to Venture Capital Investors
A VETERAN OWNED SMALL BUSINESS | Call or text now for a FREE consultation: +1 (770) 765-3692 | Website Login
Business Programs
The Best Mindset For Starting A Business
/in Starting Your Business/by StrategyDrivenPositivity & Hope
Arguably the most important element to the right mindset in business is that it has a decent amount of positivity and hope. The more positive you generally feel about the business, your own abilities, and so on, the better, so this is certainly the kind of thing that it can be helpful to have a lot of. That is of course easier said than done, but as long as you practice being positive, you’ll actually find it happens a lot more easily for you. You can then build on that in the future more and more.
Willingness To Learn
Being willing to learn is likewise very important. As long as you are happy to learn again and again and at all times, that is going to mean that you have a much better chance of actually doing well in your business, which is obviously what this is all about. In particular, you need to be open to different ideas about how to start a business, how to run a business, and what counts as success and failure. This is something that can really help a lot, so it’s vital that you are happy to do it as best as you can.
Acceptance Of Bad Moments
There are always going to be bad moments along the path of building a business. That is something that every other business leader in history has experience, and it’s really just part and parcel of how running a business goes. So the thing to remember is that you need to accept those moments as fully as possible, so that you can move beyond them so much quicker and easier. If you are able to do that, it’s really going to help you out a lot in terms of having the ability to carry on.
Keen To Help People
Most good businesses are offering something that helps people. You might want to earn a profit and be the best in your field, but you should also, hopefully, be driven by a genuine desire to make something easier for people. As long as that is the case, it’s going to mean that your ability in business is a lot easier, and that you feel a lot better about how to run your business too. All in all, this turns out to be a very important part of being a business owner, so it’s something to remember.
The New World Of Enterprise Sales
/in Marketing & Sales/by Steve WeinbergThe enterprise sales practice has been highly affected by technological change, in a mostly positive manner. It has also been upended by the recent coronavirus pandemic. So, selling in 2022 has been almost completely turned upside-down. On the other hand, sales is still sales – and it is all about gaining the trust of the buyer with a product or solution that will fulfill their needs.
My History in Enterprise Sales
I began my sales career in the late 1970s when there were no personal computers or mobile telephones. I remember looking for pay telephones wherever I traveled and when I was on jury duty. The sales cycle consisted mostly of responding to inquiries from prospects interested in upgrading their first-generation software systems. Normally, after a short qualification call, we would visit with the prospect to determine what their needs were, and again later for a formal presentation. The evaluation team usually consisted of 2 to 4 people, led by either an Information Technology (IT) or a user contact who was most familiar with the current system and needs. The sales cycle was usually from 3 to 6 months in length. There were competitors, but enough business for all of us.
Then the IBM personal computer was introduced in late 1981, followed by the Compaq portable personal computer in early 1983. That provided two significant changes: 1) Applications were written to take advantage of the personal computer, which allowed for departmental usage. Now the company’s various departments no longer needed to fight in the IT priority queue list. 2) Vendors could conduct live presentations of their products, or slick slide presentations, in front of their prospects. Enterprise selling changed, for the better, as a result. And as more and more staff became familiar with the usage of personal computers, they gained a greater understanding of the positive benefits of using a third-party product that was supported by a reputable supplier.
The typical sales cycle stayed mostly very stable from the mid-1980s into the 2000s. Enterprise systems became more integrated, and several larger global organizations emerged as the leaders in enterprise applications. The products gained in functionality and became more expensive. Consulting organizations were often required to implement them.
And Then Along Came …
And then the world encountered the coronavirus pandemic in early 2020, which shut down the economy. Employees no longer went into their office and telecommuted. Suppliers were not allowed to visit the company. The whole sales paradigm had to be changed on the spot – without any prior planning.
Prospects for 2023
Now, as we go into the new year, sellers must make the following 8 adjustments:
What About the Recession?
A recession adds challenges to the sales environment. Companies typically cut back on non-essential purchases and hold off on filling open staff requisitions. But companies still need to fix broken systems, such as a supply chain issue, and obey compliance issues and federal and state regulations, such as for OSHA, EPA, SEC, and OFEC. Therefore, if you are selling a solution in this area, you must emphasize the costs of not addressing the problem or non-compliance.
Providing a compelling value proposition is more important than ever. Be sure to work with the buying team to prepare a presentation that proves the value of your product or solution to their executive management.
An effect of recession on sales cycles is that larger expenditures may require additional justification. Sales pros need to work with the buying team, and perhaps their finance staff, in computing a positive return on investment (ROI) that is substantially beyond a beak-even.
Also, it may be helpful if you can provide financing solutions to the buyer.
Sales Basics Still Apply
Sales pros still need to excel at:
All of that has not changed. But sales pros need to be more competent at these skills than they were even as recent as 5 years ago. And companies have become less patient with lower performers.
On the Positive Side
We have entered a new marketplace and those sales pros who adapt to the changes will prosper. Buyers are far more educated and discerning in the digital marketplace. This should result in shorter sales cycles. Sellers should be able to find more qualified prospects, as only the more serious buyers will provide them with any time to discuss their needs and review proposals. There will be fewer “tire kickers.” Sellers also can use the latest technology to emphasize how they can provide value to the buyer.
We saw drastic changes to enterprise sales in 2020 -2022 due to the coronavirus pandemic. These will continue to remain in affect in 2023. Sales pros need to understand the implications of the changes to be successful.
About the Author
10 Types of Corporate Events You Could Be Organizing
/in Marketing & Sales/by StrategyDriven1. Conferences
You don’t have to look far for the perfect corporate event venue in Utah to hold a conference. Conferences take a lot of organizing, but when the attendees all get great information that they can apply to any area of their lives, vendors get to promote their businesses and speakers get to motivate, educate and uplift conference goers, it is all worth it.
2. Seminars
The main point of a seminar is to provide education to a group of people. Seminars are a part of almost any profession you can think of, from farming to medical device sales. There’s typically a need for plenty of audio and visual technology, so be sure that the venue can accommodate this.
3. Trade Shows/Expos
Trade shows are a great chance to showcase a specific industry. Think about a car show where all of the automakers have the opportunity to show off their newest models. There’s also a lot of networking and entertainment to go with this flashy type of corporate event.
4. Product Launches
There’s nothing more exciting than rolling out a new product. Apple makes a huge production out of it every other year or so.
5. Team Building Events
This type of event aims to better harmonize employees. It’s supposed to be a fun way to promote professional development while emphasizing connection and innovation.
6. Board Meetings
Although board meetings don’t require a whole lot of space, the right event space can make it feel a little bit less like mundane business. Holding a board meeting away from the typical office space can allow members to think a little differently about new initiatives and objectives as well as ways to update shareholders and members about a company’s current standing.
7. Continuing Education
Professional development is a must in any industry. Things change all the time and being able to keep up with current industry standards is paramount to being productive and effective. That’s why workshops and courses are such a wonderful addition to any business.
8. Charity Events
Interacting with the community is the objective of charity events. Whether it’s a dinner or an auction, it’s a way to strengthen the ties between a business and the community it depends on.
9. Networking Events
These are typically not a small and intimate type of event. The goal is to allow people in the same industry or potential clients and businesses to mingle, build connections and raise awareness.
10. Year-End Parties
The end of the year brings a lot of festive occasions. Although some holidays pertain to folk of a certain ideology, New Year’s Eve is generally celebrated by everyone. Not only are these holiday pirates fun, but they‘re also a time to celebrate achievements and thank employees for their contributions.
Now that you’ve got plenty of ideas for your next corporate event, you can get busy on creating the kind of corporate event that is going to best move your business forward. These types of events do take a lot of organizing and production, but the right venue can take some of that strain from you.
10 Things Every New Entrepreneur Needs to Know About Business
/in Entrepreneurship/by StrategyDrivenSo you want to be an entrepreneur? You have a great idea for a business and you’re ready to make your mark on the world? But before you quit your day job and jump headfirst into startup life, there are a few things you need to know. As much as you can see great leaders out there making a lot of money in business, it’s not always that easy to do. Being in business is a lot of work and so, it’s always a good idea to be prepared for that and to know exactly what you’re getting yourself into (as much as possible).
In this blog post, we’re going to take a look at the ten things you need to know about (and before) starting a business. So if you want to work out if this venture is for you, grab a cup of tea, get comfortable, and start reading!
Why is the Entrepreneur Lifestyle so Alluring?
For many people, the prospect of being their own boss and setting their own hours is incredibly appealing. The appeal of the entrepreneur lifestyle is easy to understand. After all, who wouldn’t want the freedom to work on their own terms? However, there’s more to it than that.
The entrepreneur lifestyle also offers the opportunity to forge your own path and create something that is truly your own. In a world where so many people feel like they’re just a cog in the machine, the chance to be your own boss and make your own decisions can be incredibly appealing.
Of course, the entrepreneur lifestyle isn’t for everyone. It can be unpredictable and stressful at times. But for those who are up for the challenge, it can be an immensely rewarding experience.
What You Need to Know About Entrepreneurial Life
So now we’re actually going to dig into the details of life in the world of business. Although it has many pluses, there are things that you really need to know in order to understand whether this path is right for you. Let’s take a look at the good, the bad, and the ugly.
1. It’s Not All Glamorous
Being an entrepreneur is a lot of work. Don’t let anyone tell you otherwise. Yes, it can be exciting and rewarding, but it also requires long hours, dedication, and sacrifice. Be prepared to put in the hard work if you want to be successful. There’s no such thing as an overnight success—even if that looks to be the case. It’s a long journey that isn’t always uphill. So prepare yourself for a wild ride.
2. You’re Going to Make Mistakes
And that’s okay! Making mistakes is part of the learning process. What’s important is that you learn from your mistakes and use them to improve your business. It doesn’t matter what happens or what seems like the biggest failure—the only thing that matters is your reaction to it. Learn from what happens, apply it to your business, and see success as a result!
3. It’s Not Just About the Money
Yes, making money is important, but it shouldn’t be your only goal. Passion is what will keep you going when times are tough, so make sure you’re passionate about your business and its mission. The money won’t get you out of bed in the morning—drive will. So make sure that you start something that lights you up and makes you excited about being in business.
4. You Need a Support System
Building a successful business takes a team effort. Surround yourself with people who believe in you and your vision. This could include family, friends, mentors, employees, investors, and so on. As much as you may be alone in the beginning (this is where the family and friends aspect comes in), you can then start to hire staff, get mentors, and take on investors over time. As your team starts to grow, so will your business!
5. You Have to Believe in Yourself
If you don’t believe in yourself, no one else will. Believe in your idea and have faith that you can make it happen. This positive attitude will help carry you through tough times. Most of the time, when it looks like you’re about to fail, the success you’re looking for it only one step away. And it’s that self-belief that will keep you going!
6. Be Prepared for Setbacks
There will be bumps in the road along the way to success—but don’t let them get you down! When we choose to see setbacks as opportunities to learn and grow, the game changes. You will lose money, have customer issues, have to give refunds, and so much more. It’s just part of the game. But it helps if you can be prepared. Choose to learn more about Visa Rapid Dispute Resolution, understand how to improve your customer service, and always make sure that you have a contingency fund, just in case anything goes wrong!
7. Know When to Ask for Help
Asking for help doesn’t mean you’re weak or incapable—it just means you’re smart enough to know when you need assistance. Don’t be afraid to reach out to others for advice or guidance when needed. This is where the idea of having a mentor can come in handy. It’s all about learning from someone who’s a few steps ahead of to so that you know what you’re doing in moments when things feel hard or confusing.
8. You’ll Need Thick Skin
Entrepreneurship isn’t for the faint of heart! You’ll need to develop a thick skin if you want to make it in this competitive field. Be prepared for rejection and criticism—and learn how to use it constructively to improve your business. You will have your highs and your successes, but there can be a lot of hurdles to get there and you may fall down from time to time. Being able to brush it off and keep going will drive you to where you want to be.
9. You’ll Work Long Hours
Expect long hours, especially in the beginning stages of starting your own business. As much as you can see some entrepreneurs online that work a few hours a day for millions a year, it never started off that way. These people put the graft in early! When you’re still working a job, that means early mornings and late nights. It can still mean both even when you quit your job to take your business full-time. Remember—you get out what you put in!
10. It’s Not Going to Be Easy
Building a successful business takes time, energy, dedication, and determination. It’s not going to happen overnight, so don’t get discouraged if things aren’t moving as quickly as you want them to. Rome wasn’t built in a day and neither is a thriving business! Have patience, stay focused on your goals, and never give up on your dreams. If you keep these things in mind, you can achieve anything you set your mind to! And remember, the harder you work the luckier you get!
Are You Ready For it?
Entrepreneurship is not for everyone, but if it’s something you’ve been thinking about, this blog post should be able to give you some insight into what to expect. It’s absolutely hard work to run your own company—but it’s also very rewarding. Just remember these key points, stay focused, give yourself some grace, and go out there and achieve greatness. It’ll be worth it!
How to Make Your Tech Startup Attractive to Venture Capital Investors
/in Starting Your Business/by StrategyDrivenVenture capitalists and tech startups are often inseparable. Venture capital investors provide tech startups with financing to facilitate their growth. Below is a list of proven ways to raise venture capital for your tech startup.
Sell Your Idea
Tech companies produce unique services and products, but it’s not always easy to assess the impact they may have on the world. It would help if you pitched your idea well to capture the attention of venture capital investors. Ensure you develop a plan to have venture capitalists on board to facilitate the growth of your tech startup. Brad Kern says you should explain what you’re offering and why your idea is ground-breaking to improve the chances of securing venture capital. If you aren’t a salesperson, ensure you hire an expert who understands your products and can describe the product’s unique qualities.
Show That Your Tech Startup Is a Money Spinner
The primary goal of a venture capitalist is to invest in businesses that promise an excellent return on investment. Most venture capital investors finance a venture for four to six years. When the grace period expires, most venture capitalists want to leave with extra cash than the one they invested. It’s a considerable risk, so most of them do due diligence on your business before releasing the funding. Ensure you prepare thoroughly by crafting an effective business plan before approaching venture capital investors.
To secure venture capital for your tech startup, you must develop a long-term business plan and reveal it to potential investors. Develop financial predictions, updated accounts, and a comprehensive business model showing how your tech business will grow within a few years. Venture capital investors will assess how you intend to secure your intellectual property rights for the hardware or software you intend to produce.
Reveal That You Are Aware of Your Competition
Whether developing recyclable electric car batteries or boosting the autonomous vehicle market, there are other startups that always solve the same problem in this industry. Ensure you’re upfront regarding your competition to have the upper hand. You must show why you think you should be the first to exist comfortably or the first to market the products to ensure they remain competitive in the market.
Demonstrate the Strength of Your Team
Your service or products may be excellent, but you must show that you have a solid management team that will drive your tech startup to become a market leader. Employ effective and clever marketing techniques to position your products above competitors. Venture capital investors will assess whether you have a winning team knowledgeable on multiple ways to network and create value for your products. Venture capitalists will likely participate in your board of management meetings, and some want control over your startup operations. They will want to work with a solid team that is promising before they invest their money. If you seem too controlling, you may put venture capital investors off.
Identify Venture Capitalists
Review the websites of venture capital firms to establish whether your tech industry will attract prospective investors. Assess the investment criteria and areas of focus of potential investors. Some VC firms have mandates barring them from funding industries outside the target industry. Ensure you seek venture capitalists who have interests in your field.
Venture capital investors tend to invest their money in tech businesses. Follow the listed tips to improve your chances of securing venture capital investors.