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Creating a landing page to attract investors as a VC can be a challenging task, especially in today’s market where safety of the investment is a top concern. With the number of scams and mistakes that have taken place in the industry, investors are looking for assurance that their money is in safe hands. In order to attract these investors, it’s important to understand what they are looking for and update your landing page consistently.

Here are some key factors to consider when creating a landing page that will attract investors:

  • Show the process and steps taken to protect investors: Investors want to know how their money is being safeguarded. This includes information on how due diligence is conducted and any data that supports the process. Be sure to present this information in a simple, step-by-step manner.
  • Include information about the people involved in the investment decision: Investors want to know who they are entrusting their money to. This includes information on the board of members, their qualifications, and how the investment decision is made.
  • Highlight past investment success with specific numbers: Including information on your portfolio and past investments can build trust. However, it’s important to also include specific numbers to show that these investments have paid off. This includes information on how the fund or portfolio companies performed across different market conditions.
  • Include feedback from other investors: Crypto space runs quite a lot anonymously, but when you can put faces out there and build trust that will come in very handy. Include feedback from other members who have been part of the investment for a longer period of time. This can be in the form of videos, audio, or text.
  • Include media publications and other places where you’ve been featured: Any publicity that can help build trust and interest in your fund should be included on the landing page. This includes media publications where you’ve been featured and events where you’ve spoken.
  • Have a structured, corporate-looking website: A well-organized website can attract traditional investors who value structure and trust. However, it’s important to consider the type of investor market you’re trying to attract.
  • Showcase the team’s backgrounds and expertise: Investors want to know that the team behind the fund has the technical ability to understand a project, the ability to foresee the marketing, financial, and compliance side, and diverse expertise in the team.
  • Do not appear desperate or needy: The landing page should clearly state that the kind of investors you’re looking for is not everyone but a very specific type. The more you qualify them, the more boundaries or barriers you set, the more interested the target group would be to be part of it.
  • Create a demand by requiring mandatory training or testing: Funds can require that investors pass a mandatory test or training course before they can invest. This creates a sense of exclusivity and demand that can attract more investors.

Ultimately, every investor segment is different, and it’s important to market effectively and build trust and interest in your fund. By understanding what investors are looking for, creating a structured and organized landing page, and showcasing the team’s expertise, you can attract the right investors for your fund.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

By

A prolific writer, KEY brings an insider perspective to blockchain ventures and crypto startups. He shares cutting edge content marketing strategies from his 11 years of management experience. Perfectly balanced in mind and body, he runs marathons, target-shoots, engages in extreme sports and takes a vacation break in 5+ countries annually.

Sourced from Cryptopolitan

Sourced from Forbes

In business, dire situations can sometimes arise that cause panic across company leadership. During those trying times, it can be difficult to remain calm. However, it’s important for leaders to keep their cool, especially since these circumstances may have a long-term impact on business.

As experienced business leaders, the members of Forbes Business Council understand that keeping one’s cool is the key to mitigating the impact of challenging situations. Below, 15 of them share tips for entrepreneurs to help them remain calm during a dire situation.

1. Look At A Situation With Empathy

Stephen Covey answered this one perfectly, “Seek first to understand, then to be understood.” Entrepreneurs are constantly working to maintain control of their businesses, and challenges to that control can feel like a personal attack. Often, working to understand the situation empathically gives entrepreneurs a different path to a solution—one that feels like a choice instead of a forced capitulation. – Bryan Howard, Mercury Performance Group, LLC

2. Remind Yourself That Hardships Will Pass

Take a pause and recall some disastrous situations from your past—the ones where you thought “Okay, now it’s all over, I’m screwed.” Then remember that after all, you got out of it. Remind yourself that everything is water under the bridge, and even the worst situations pass and you go on. Now, once you’ve got your nerve back, pull yourself together and get back to solving it. – Alexander Shevchenko, Guavus

3. Write Down Your Problems And Solutions

The best way to deal with a tense business situation without losing your cool is to take a step back and assess the situation objectively. Take a few deep breaths and count to 10, if necessary. Ask yourself what’s the worst that can happen. Write down a list of the possible outcomes and the steps you can take to mitigate them. A clearer sense of the situation will help make an informed decision. – Ritesh Dalal, Intellective

4. Be Open About Your Challenges

Being transparent and open about challenging issues can help you solve them. I have always found that talking about challenges makes their power over your mental preparation to deal with them immediately shrink. And if you share with the right people, you may get ideas to remedy the situation that you wouldn’t have thought of on your own. Teamwork makes the dream work! – Jennifer Coy, Beauty Care Choices

5. Maintain Your Composure For Your Team

You must have an outlet outside of the company, and you cannot show fear, stress or uncertainty to your team at any time. As leaders, we have to maintain composure so our team can have confidence in our abilities and in the health of the organization. I’ve always liked the notion of acting like a duck—calm above the water but kicking like crazy beneath. – Laura Silver, Blue Door Communications

6. Find The Positives In Every Situation

Keep a positive mindset and never allow your emotions to get to you. If you draw positive thoughts in every difficult situation, you’ll eventually find the beauty of hardships as you learn ways to overcome them. – Pavel Stepanov, Virtudesk

7. Know That It’s Okay To Fail

Understand that it can not be “your time” every time. A positive and learning approach never fails. It is okay to not have the best output as per what you predicted, but learning from it and coming back with double the experience is amazing. – Neha Madaan, Vanator

8. Take A Pause

It’s important to let the immediate reaction settle so action steps can be made with a clear mind. It also allows for the whole picture to be seen, including what is not going wrong, instead of the narrow scope of the situation. This will help develop a strategic, solution-oriented mindset without being driven by an emotional response. – Melanie Ammerman, VaVa Virtual Assistants

9. Move On To A Different Subject, Then Come Back Later

Think through your decisions and don’t decide anything as quickly as you lose your cool. Everything in business changes and you have to be able to realize that in certain situations. Oscillate to a different subject and then come back to the difficult situation later with a clear head. – Kirt Linington, Linear Roofing & General Contractors, LLC

10. Take The Emotion Out Of The Conversation

Take a few minutes or time to temporarily compartmentalize or sleep on it. Then, when you’re ready, begin the conversation. Get the facts, process the information and once you have all the information, voice your thoughts and potential solutions. Removing emotion forces you to be objective and focus on the solution rather than acting rashly. – Deyman Doolittle, ShipSigma

11. Let Your Emotions Settle

The best way to keep your cool is to remember to not act a fool. The life we live is one of human emotion. Knowing this allows you to control this ball of tense energy waiting to explode at any minute. Walk away and schedule a follow-up conversation to healthily communicate that is when you’re less emotionally charged. – Joshua Steinberger, NextGen Restoration

12. Acknowledge The Other’s Perspective

Taking deep breaths, counting to ten and repeating positive affirmations can all help reduce stress and give you time to assess the situation more objectively. Remember, exchanging civilities with your colleagues shows that you are open to working together in a constructive manner which will inevitably lead to a better resolution. – Michael Shribman, APS Global Partners Inc.

13. Remember What Your End Goal Is

Successful entrepreneurs learn early on to deal with respect, due diligence and patience when it comes to people’s issues or operations’ challenges. Before reacting or losing your temper, you must remind yourself what the end goal is. Demonstrating your leadership skills by clearly understanding and focusing on the result helps diffuse the tension and create a positive environment. – Francisco Ramirez, The ACE Group (TAG)

14. Understand The Pressure That Comes With The Entrepreneurial Journey

Accept the difficult truth that this is part of the journey of entrepreneurship. Involuntary and voluntary friction are guardrails towards success. The mind has the ability to calm the heart. Science is proving the wisdom of the heart when the mind drives thoughts that allow elevation of it. View the pressure as necessary, similar to how the eagle rises above the storm for a smoother flight. – Paul L. Gunn, KUOG Corporation

15. Assume Positive Intent

Assume positive intent. Remember that working with people is the most difficult, yet most rewarding aspect of business. Believe that everything happens for a reason, and remember that it’s not personal. – Martina Seferovic, OIP Inc

Sourced from Forbes

By Deanna Ritchie

For writers and artists of all kinds, making a living isn’t always straightforward. Regardless of the medium or genre, competition abounds, and even with some online success, it can be challenging to break through to a broader market.

The internet has made it both easier and more challenging to get your work out there. On the one hand, social media platforms allow writers and artists to connect with their audience, but this also means more people are trying to do the same thing as you.

As you look for ways to use new avenues of technology, finding ways to let technology and the internet help you as an artist or writer is essential.

How Tech-Fueled Self-Publishing Can Help Varying Artists

One area that many creators are utilizing is self-publishing. In the music industry, this usually means creating a SoundCloud or posting your new songs on TikTok. For visual artists, this can include creating dedicated social media profiles for their art. But for writers, things can be more complex. Those who wish to publish their own books might be unsure of how to utilize technology or the internet to get to that point, but the truth is that self-publishing is a sensible route for many aspiring authors. Self-publishing is similar in many ways to start a business.

With more and more channels available for writers across all genres and topics, many people are pursuing self-publishing instead of going with publishing companies. There are pros and cons to both routes, but self-publishing allows anyone with a dream to make their book vision come true.

You may wonder about the steps you need to take to self-publish. Here’s an essential guide to getting started.

Why Self-Publishing is a Good Idea For Some Authors, Especially New Ones

The traditional publishing industry has the resources and reputation that many writers look for when trying to publish their books. If you can get a publishing house to accept your book, you’ll get paid and get the resources to market and sell your book.

However, it’s rarely that straightforward. Even a well-written book that’s original and creative might not be what traditional publishers look for in their acquisitions. Larger publishing houses may have preconceived notions of what will and won’t sell, and they also receive countless submissions. In some cases, an indie publisher might be a good alternative, but these also have downsides.

So, for new writers, self-publishing is a way to get your name out there and build an audience. The truth is that pitching your book to an agent is time-consuming. You may end up querying dozens upon dozens of literary agents with hardly a word back. This is especially true if you still need to build a reputation for yourself as an author. Instead, self-publishing allows you to harness any online traction you already have and then further your audience base. Once you publish something, you can point interested people to where your book is sold, which is an excellent way to build up social media buzz and spread the word.

Six Essential Steps For Self-Publishing Your Book (Regardless of Genre)

Self-publishing isn’t for everyone, but it is a viable option for many. Depending on your situation, self-publishing may be the only realistic route to getting a book in physical copy. But if you want to pursue self-publishing, you’ll likely have many questions about the process. Whether you want to publish a poetry book, sci-fi novel, or short story anthology, the approach to self-publish is much the same. Of course, as with most aspects of writing, the steps are often more complicated than can be put on paper.

To get you started, here are some steps to take when self-publishing:

Step 1: Ensure Your Book Has a Market

While you can self-publish nearly anything you want to write, you do have to look at the cost of production versus how much you’re likely to make. Of course, if you have the money to self-publish and aren’t worried about profit, you should go for it. However, for most writers, profit is at least a factor. To ensure you can make a profit now, or later as you build an audience, research the market for your genre. You can confirm you have a unique idea or at least a premise that is appealing to your potential readers.

Step 2: Focus Heavily On Editing

One potential downside to self-publishing is you won’t have access to qualified, professional editors. However, editing is still vital. If you want to succeed as an author, you need to publish a book that is free from grammar and spelling errors, and it’s also wise to do broader edits to things like plot and continuity. You’ll need to find editors to help you. If you’re lucky, you’ll already know someone in your network who can assist you. But keep in mind you will need to pay editors for their time and expertise.

Step 3: Figure Out the Cover

The design of your book cover also matters. The cover is the first thing readers see, and it’s a significant part of drawing an audience. Many people specialize in designing book covers, and this is a part of self-publishing where you’ll want to devote some extra time and money. If you need help with graphic design services, you can reach out to freelancers for help.

Step 4: Consider Where and How You Want to Sell the Book

Overall, it’s much easier to self-publish today because there are more platforms. Amazon has a program for self-published authors. With them, you can have your book be printed-on-demand, which means books are only created once they are ordered. But, if you self-publish through Amazon, you won’t be able to sell your book in other places. As an alternative, you could also choose to publish on your own website. But, in this case, you’ll need to find a printing company to create the book for you.

Step 5: Consider Your Budget

Self-publishing saves a lot of time and stress, but it isn’t free. The cost of hiring editors, graphic designers, and more adds up. And, if you’re choosing to pay to have the books printed yourself, the budget can get out of hand. So, before you get too far into the process, be sure you’ve planned your budget. You only want to spend what you have.

And, as you do all the hard work to write and then bring your book to the world, remember to take time to unwind and relax. Here are some tips on how to unplug.

Step 6: Launch Your Book Like You Would Any Business Product

After you have your book formatted and ready, you need to work on the marketing. This step is vital to your success as a self-published author. While there’s no one right way to market, you’re likely to succeed more if you consider your book launch as a professional would. Figure out how much money you have in your budget to do things like making social media ads. It’s also helpful to use analytics tools.

Also, be sure you have your social media pages all setup. You’ll want to post on them regularly and engage with your audience.

Final Notes on Self-Publishing

As you start this process, look online for communities of writers in the same situation. This is a great way to learn tips and tricks for people who have self-published already. Remember that self-publishing isn’t a one-size-fits-all model.

If you don’t sell as many books as you’d hoped, don’t give up. Many authors don’t see success until they’ve published more than one book, and this is true regardless of how their book got published.

Featured Image Credit: Suzy Hazelwood; Pexels.com

By Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

Sourced from readwrite

By Jennifer Ortakales Dawkins

Everyone’s asking ChatGPT to do something for them — which is no surprise, since artificial intelligence is expected to be a game changer for business in 2023.

If you’re unfamiliar with the tool, imagine typing a question into Google’s search bar, but rather than sending you to a highlighted answer followed by pages of search results, it talks back in a private chat window. It uses stored information from books, articles, and websites to give you an answer, in complete sentences and paragraphs.

ChatGPT, which is free to use, launched in November as a research prototype. Professionals have used it to write cover letters, and students have used it to write their papers — then New York City banned the app from public-school devices and networks.

ChatGPT may be able to write an English essay, but there are some things it can’t do, like help you start a business.

While it’s very smart, ChatGPT is only a chatbot; I knew it couldn’t physically start a business for me. But I wondered if it would at least walk me through the initial steps.

So I asked this AI program a series of questions about starting a business.

Here’s how it went.

8 generic steps for starting a business

The main page where you can ask ChatGPT for information.

ChatGPT

 

When I initially visited the site, ChatGPT served me a 404 page — regular outages are a side effect of its sudden popularity. I refreshed the page a few hours later and was finally able to log on.

ChatGPT doesn’t do much heavy lifting. Its responses tend to be formulaic and broad, lack inspiration, and leave out a lot of useful information.

When I asked ChatGPT how to start a business, it gave me the following eight generic steps:

Starting a business can be a challenging but rewarding process. Here are some steps to help you get started:

  1. Develop a business idea: Identify a problem or need in the market that your business can solve. Conduct market research to validate the demand for your product or service.
  2. Create a business plan: Develop a detailed business plan that includes financial projections, marketing strategy, and a plan for setting up your business.
  3. Raise capital: Determine how much capital you will need to start your business and secure funding through investors, loans, or personal savings.
  4. Register your business: Register your business with the appropriate government agencies and obtain any necessary licenses and permits.
  5. Build a team: Hire employees or contractors to help you run your business, if necessary.
  6. Set up your business operations: Establish your business’s legal structure, obtain any necessary business insurance, and set up your accounting and financial systems.
  7. Develop a marketing plan: Develop a marketing plan that outlines how you will reach your target market and promote your business.
  8. Launch your business: Launch your business, and be prepared to adapt your business plan as you learn more about the market and your customers.

Starting a business requires hard work, dedication, and the ability to adapt to change. It also requires a good understanding of the market, the competition, and the legal requirements. It’s important to have a solid plan, a clear vision, and the right team in place to increase your chances of success.

ChatGPT can cater its answers to the type of business

ChatGPT answering how much it costs to start a laundromat business.

ChatGPT

 

After asking the chatbot how to start a business, I tried more specific questions, like “How do I start a vending-machine business?” and “How do I start a laundromat business?”

These prompts led to slightly more detailed answers catered to the type of business, though they still fit within the same eight-step format. It suggested identifying potential locations for the vending machines and hiring staff for the laundromat.

Finally, I tested ChatGPT’s knowledge of startup costs. It outlined six overhead costs such as equipment, legal fees, and renovation.

In conclusion, ChatGPT is not a great source for answers to your deepest business questions, but it could be a helpful starting point to gather ideas, get cost estimates, and outline your business plan.

Feature Image Credit: Getty

By Jennifer Ortakales Dawkins

Sourced from Business Insider South Africa

By Jack Smith

“Sustained business success” refers to an organization’s ability to meet the demands and expectations of its customers, as well as stakeholders, over time. To achieve this, I believe aspiring business owners must commit to the following non-negotiables.

Starting a business is easy and every year, millions of new businesses are launched. However, to be a successful entrepreneur, you must take more steps than simply registering an LLC. Unfortunately, most people only succeed in launching new businesses. Reality eventually settles in, and difficulties arise.

It is tough to build a business that is sustainable, and it is challenging for entrepreneurs to attain long-term continued growth. Competent entrepreneurs understand that nothing is as good or as bad as it seems, and following a methodical approach in pursuit of their vision will allow them to maintain the growth that will enable them to do more.

In general, “sustained business success” refers to an organization’s ability to meet the demands and expectations of its customers, as well as stakeholders, over time. To achieve this, I believe aspiring business owners must commit to the following non-negotiables.

AIM FOR IT: HAVE A BOLD VISION

There is no amount of money that can achieve business success without a bold vision. Entrepreneurs must be prepared to take a full, perhaps painful, look at where they are today, and have the guts to draw out a bold vision for the future. A clear, compelling vision sustains the path when the going gets tough—when an organization experiences the growing pains of meaningful change.

Having a bold vision inspires an organization and draws together a team that can act. To effect change, your vision must be bold enough to be the change people want to see in the world. Be bold. Be daring. If your dream and vision isn’t bold enough to inspire action, it’s not big enough.

CARE FOR IT: KNOW YOUR WHY

Having a bold vision goes along with knowing your why. Everything you do should be motivated by purpose. Businesses with a clear sense of purpose increase consumer engagement, strengthen relationships with employees, and boost financial performance. Being able to define how your business or service impacts the community and adds value to people’s lives is crucial to becoming a successful entrepreneur.

Knowing the “why” of your business gives your team and your customers a way to connect with you on a personal level and view your business as a dynamic entity.

ACT ON IT: TEST YOUR BUSINESS IDEA

Successful entrepreneurs are aware that the first step in anyone’s entrepreneurial journey is a great business idea. But how do you know when you have a winner? Even though you believe your idea is great, it’s best to test it before you invest time and resources in a business or product for which there is no market. Testing is key to see if you have a viable business model.

Business is a trial-and-error process and being willing to act mindfully is critical to success.

LEARN FROM IT: UNDERSTAND YOUR CUSTOMERS

Testing a business involves both failure and learning; how entrepreneurs deal with failure determines whether it ultimately leads to success. Starting a business also requires you to be open to learning from potential customers. Successful entrepreneurs know how to become partners with their customers, understanding what they want and thereby creating the opportunity to be the solution their customers need when they need it. Without this knowledge, marketing efforts may be ineffective and no matter how brilliant a business idea may be, it may fail to take off.

Understanding, learning from and building on your customer knowledge and relationships will put you ahead of the game.

WORK FOR IT: ACCOMPLISH YOUR TASKS

A successful business is not magic: It meets its customers’ expectations while taking care of its employees. Instead of waiting for opportunities to present themselves, successful entrepreneurs create them. While the real entrepreneur closes deals, a “wantrepreneur” outsources development.

If thriving is your aim, you must stop procrastinating, stop writing that 100-page business plan, and start executing the tasks at hand. Turn your blueprint into a battle plan focused on outcomes. It’s simple: if you want it to happen, make it happen. Just keep moving.

FINAL THOUGHTS

Entrepreneurial non-negotiables are based on sound principles, and once you are clear on these, they will serve as your compass as you navigate toward sustained business success and overcome the challenges along the way. You must be tenacious and fully committed to the necessary effort and work. You must believe that achieving business success is not only possible, but also necessary.

Feature Image Credit: bnenin/Adobe Stock

By Jack Smith

Jack Smith is the Chief Executive Officer of Fortuna Business Management Consulting, a California-based, veteran-owned IT consulting firm.

Sourced from FASTCOMPANY

By Constantine Andriopoulos

Constantine Andriopoulos is a Professor of Innovation and Entrepreneurship at Bayes Business School, in City, University of London, and the Director of Avyssos Advisors, an innovation management consultancy.

Below, Constantine shares 5 key insights from his new book, Purposeful Curiosity: The Power of Asking the Right Questions at the Right Time. Listen to the audio version—read by Constantine himself—in the Next Big Idea App.

1. Uncover your itch and turn it into a project.

On November 20, 2020, Rocket Lab, a leading California-based aerospace manufacturer, launched its Electron rocket, a small reusable rocket. The launch was the brainchild of Peter Beck, an engineer from New Zealand and the founder and CEO of Rocket Lab. Beck’s itch was to figure out a cheaper way to get things into orbit. To do so, he had to figure out ways to bring down the cost of his rockets. While NASA’s rockets can cost up to $1.6 billion to launch, each Rocket Lab small-satellite low-orbit launch, costs about $5 million.

Beck’s fascination with rockets started at a young age. As a teenager, he became curious as to whether he could build one. He started by reading as much as he could about the subject and then began to experiment with different designs in his garden shed. At the age of 18, he strapped a rocket engine to the back of a custom-made bicycle and managed to ride at about a hundred miles an hour. Instead of attending university, he accepted a toolmaking apprenticeship, while at night, he continued to develop his rocket engines. In 2006, he founded Rocket Lab. Like Beck, we should start by focusing on a purpose that gets us up in the morning, and with a conviction that everything is understandable. So how can you ignite that spark?

First, you need to get yourself into the right mindset. You must activate a sense of wonder. Then you need to look for inspiration. Inspiration may come from everywhere. Try asking questions like; What if? Am I sure? What’s next? Have I looked closely enough? Have I looked everywhere?

Then select a topic that interests you enough and that you can pursue deeply for a long time. How do you choose which curiosity journey to follow? Three things make an itch worth focusing on: boundaries, purpose, and belief.

Pushing boundaries is about addressing hard problems, seizing exciting opportunities, or going where no one has gone before. This way, your curiosity journeys will be fuelled by lots and lots of smaller puzzles or mysteries. The purpose must be personal. Be emotionally connected to a worthwhile cause and immerse yourself in it. The belief must be concrete. As a point of departure, believe that everything is understandable or will eventually become understandable, with the help of others.

Then, grant yourself permission to explore. You have fallen in love with your puzzle but wonder if you can pull it off. It is all too easy to think of all the issues that stop us from embarking on a journey. You may have caught yourself thinking about starting projects, and then jumping from idea to idea without getting started. None of us is immune to this approach, but it is impossible to start a curiosity project if we explore haphazardly and butterfly-like. You must take control.

“Don’t wait for others to tell you what to do or confirm that it is OK to start.”

Take ownership of your curiosity project. Don’t wait for others to tell you what to do or confirm that it is OK to start. Grant yourself permission! When you find something that you are passionately curious about, rather than initiating your exploration in private, go public. Declare it to the whole world! Start investing time, energy, and resources. Hand yourself over to your curiosity either gradually, or by going all in.

2. Become an expert fast.

When Marshall Culpepper, the American serial software entrepreneur, founded KubOS with an aim to develop a secure, open-source platform for space-flight software, he had to become an expert quickly. He faced a significant challenge though: he had neither the formal qualifications nor any relevant experience in astronomy. Undeterred by his own naivety and seduced by the business opportunity, Culpepper immersed himself in the science of astronomy. Searching online for insights proved very useful, but what he found particularly beneficial was Coursera’s online course on astronomy and aerospace engineering. Like Culpepper, many people who work nine to five jobs decide to teach themselves new skills, launch a business, or explore a new area of interest. They shouldn’t let their lack of relevant formal qualifications or experience deter them from pursuing their curiosity journeys.

When you are passionate to learn as much as you can about the subject that stirs your curiosity, you can create your own learning environment, set your own learning goals, and plan your own lessons. How do you go about this?

First, establish your framework. Be specific about your learning goals. What do you want to know? Develop a timetable for the subjects that you want to study. Create your schedule and stick to it!

Now create your own curriculum. You have set aside the time you need to study, and you have claimed a distraction-free place for your work. Now comes the hard part, but it is also the fun part: Gather the resources you require to fulfil your curiosity. The internet has excellent resources, but be disciplined. Before you run every conceivable search you can think of, set some time constraints and focus your search. Start by gaining a broader understanding of your new area by reviewing other people’s work online. Knowledge that has already been collected and disseminated by others has two key benefits.

First, you understand the state of the field by looking at what others are doing, and you can build on that to make further improvements. During your research, ask two questions: What is really new? What is really interesting? Soak up expertise from a wide range of internet sources: articles, academic studies, reports, blog posts, online tutorials, and courses which are easily accessible. Select what is important by filtering the noise and questioning everything you read. Search online, immerse yourself in your new domain, and practice disciplined serendipity.

At the same time, build your own community. Reach out to experts, find fellow curious seekers, and crowdsource wisdom by developing an outreach program. Don’t be afraid to ask questions. Always dig deeper. Curious people do not rely exclusively on digitized resources. They balance screen time with field trips. They search through archives, learn from specialists, and ask experts for recommendations. Piece together the puzzle by actively reading, looking for interesting insights, and spotting what others have missed.

3. Ask: Who is with me?

Click HERE to read the remainder of the article.

By Constantine Andriopoulos

Sourced from Next Big Idea Club

By Bill Murphy Jr.

Believe me, some of us need all the help we can get.

Feature Image Credit: Getty Images

By Bill Murphy Jr.

www.billmurphyjr.com@BillMurphyJr

Sourced from Inc.

 

By Kyle Krahl

As a startup, finding and procuring funding for your business is a vital step to enable growth. Impressing potential investors is only the first step in securing funding. Passing the due diligence process is just as important as putting together a stunning pitch deck. To ensure this all-important discovery phase goes well, avoid the red flags that may cause venture capital and angel investors to back out of a potential partnership.

Eventually, startups will require more funding than friends and family can provide, funding that angel investors or venture capital firms can supply. The first step to a partnership with one of these investors is the pitch meeting to interest them in your startup. If the meeting goes well and a partnership is agreed to, the startup must still go through the due diligence process.

Unorganized or nonexistent data room

To properly prepare for the due diligence process, a good first step would be to create a data room for your startup and grant investors access. A data room is typically a virtual file room where important documents and data, such as financial documents or customer contracts, can be securely stored.

The data room can be preloaded with standard due diligence requests but can also be added to as additional requests are made. Having a preexisting data room available can speed up the due diligence process and convey a sense of organization and professionalism.

Lack of founder integrity

Trust is irreplaceable for any partnership to work, including a financial one. As such, breaking that trust between the potential investor and the founder, even in a minor way, will eliminate the possibility of an investment. Behaviors to avoid include:

  • Overstating historical results.
  • Misrepresenting the use of investor funds.
  • Misrepresenting the development progress of a product.

An investment in a startup is the start of a long-term relationship between the investor and the founder. That relationship needs to be based on trust and any display of a lack of integrity will rightly cause the investor to walk away.

A weak or misunderstood customer base

As part of their investigation, investors may also review your current client or customer base. After speaking to customers, if investors discover that customers aren’t as enthralled with the product or service as had been represented, this can suggest a lack of customer outreach or a fundamental misunderstanding of customer wants.

Similarly, a small customer base can also be a red flag for investors, particularly in cases where a single customer accounts for the majority of revenue. In both cases, this may indicate that the potential growth of the startup may be limited unless it is better able to accommodate its clients.

Issues or incompetence within the founding team

One question investors consistently ask themselves during the due diligence process: Are they coachable? Refusing to accept advice or listen to an opinion doesn’t bode well for a potential partnership. Investors often have experience some startup founders may lack and, after investing so much capital behind your business and your idea, they’d like you to succeed. Guidance, mentorship and general advice are part and parcel of a relationship with a VC or angel investor and are one of the benefits of such a relationship.

In addition to coachability, investors will assess whether the founding team is competent. There will typically be three to four areas that need to be covered: operational, technical, financial and marketing. These areas do not need to be covered by separate individuals. Often, a founder can cover two or three and the others can be covered by other founders, employees, previous investors or maybe even a mentor. Investors will often probe for competence with some standard questions, based on company type.

If the company is:

  • A manufacturer, what is the contribution margin?
  • A software company, who does the coding?
  • A subscription company, what is the monthly recurring revenue?
  • A consumer products company, what demographics are you targeting?

Failure to answer any of these questions, correctly or at all, reveals a gap in the founding team that may increase the risk of investment beyond what the investor will accept.

Other considerations

Startups raise multiple rounds of funding from multiple funding sources, so a complex cap table isn’t an aberration. However, a cap table can move from complex to messy and drive off potential investors. Investors need to understand how they will get a return on their investment. If the cap table is so complex that they can’t determine how, when or why their investment will be returned, then the cap table itself has become a risk to the investment.

Investors will also examine any intellectual property (IP) a startup relies upon. This includes verifying whether the IP is owned by the company. If it isn’t, and it’s owned by a founder, an affiliated university or another third party, they need to understand what rights and exclusive rights the startup has to that IP.

The relationship between investor and startup founder is based on trust, so it stands to reason that the most impactful red flag for potential investors is either a lack of trust or a breach of trust. No sound financial partnership can be established on inaccuracies, whether they were purposeful or not. Impressing potential investors with a pitch is just the first step, now you’ll need to show them you are a trustworthy organization.

Need guidance on next steps with your startup? Anders CPAs + Advisors works with startups and entrepreneurs on their financial needs so they can focus on what they do best. Contact an Anders advisor to discuss your goals and how we can help you achieve them.

Every day at Anders, we serve as a catalyst for those striving to achieve their highest potential and carry this mentality on to our clients and community. Through a collaborative approach and a combination of tax, audit and advisory services, we help our clients achieve their goals.

By Kyle Krahl

Kyle Krahl is a manager in forensic, valuation and litigation at Anders with more than 10 years of experience valuing businesses and performing merger and acquisition due diligence. With experience seeing all angles of the financial due diligence process, Krahl is an asset for companies throughout M&A transactions.

Sourced from ST. LOUISINNO

Sourced from readwrite

Companies are constantly evolving, looking for new ways to diversify their marketing strategies to attract new customers while managing effective engagement with their existing followers.

The rise of social media, more than its traditional scope of practice, has meant that businesses and companies can increase their communication and marketing efforts towards previously under-recognized consumer markets.

As the internet spawned to become a platform through which several million companies now operate, managing direct social interactions on social media channels can be an arduous task if companies and marketing teams are properly equipped.

There are copious reasons why it’s important to have the right team and tools behind social media marketing and management. For many businesses, the idea of social media is more than basic use, but rather a place from which they can market new products and services, drive sales, increase brand exposure, offer social commerce options, and introduce brand awareness within their target audience and the greater public realm.

Aside from social commerce, these communication networks have also become a way to improve customer experience as studies show that 1 in 3 social media users prefer customer service and customer care being conducted via social media to phone or email.

These networks drive sales and create brand awareness. Still, they also play an important role in analysing target audiences and consumer markets, giving companies a broader overview of the tools and resources they require to leave a lasting impression on their followers.

Let’s have a look at five free social media management tools any small and medium-sized business owner should be considering for their organization.

Later

While Later was originally designed and launched as an app dedicated to Instagram, the platform today supports several other social media networks while constantly adding new features as it grows.

Later is more than a social media marketing tool; it helps business owners create content that is striking and engaging and generates more click-through traffic helping owners direct their followers from their social media accounts to their websites.

There is a strong emphasis on visual content on Later, which makes it a more suitable add-on for businesses looking to increase their Instagram and TikTok following. Content scheduling still plays a big role, and in recent years the platform added tools and features that help to create and schedule images, videos, posts, and stories all under one umbrella.

What’s unique about Later is that it seamlessly helps tie together several important aspects of social media management, both visual and non-visual, to bring forth a powerful platform that can be used for free.

Free subscriptions on Later still give users access to features such as analytics, saved captions, and scheduled stories, among others. For small business owners who want to splurge a bit of cash on their social media management tools, Later’s cheapest plan starts at $9,00 per month, a good starting point for any small-scale operation.

Buffer

For quite some time, Buffer has remained a strong contender in social media management, allowing users more streamlined social media marketing features.

Although the platform only supports several social media networks, including LinkedIn and Pinterest, it does have some noteworthy free features that can help small businesses effectively manage their social accounts from one dashboard.

The basic layout of Buffer includes posting schedules, a Google Analytics campaign tracker, and a shuffling queue to create and enhance the variety of posts and content on a feed.

The platform helps to scale social media marketing efforts, and it comes with a friendly-to-use interface, which is perhaps why so many businesses and social media influencers are currently using it.

In a nutshell, one could say that Buffer is more of a social media automation tool with added features and resources. A majority of the core focus does help businesses queue their content and allow for it to publish automatically. For any small business owner, automated publishing helps them to post content that will keep their audiences engaged at all times, even when they are not present or seeing slower online traffic.

Free subscriptions include a small powerhouse of resources, but business owners who are looking to scale up their operations in the coming months or years will find more benefits with their paid plans.

TweetDeck

Twitter is one of the most underutilized social media networks for small businesses, and there’s no reason it shouldn’t be, as the app sees more than 229 million daily active users as of 2022. Although 67% of B2B businesses use Twitter as a marketing tool, there is a lot of potential for smaller businesses when it comes to this social media network.

For the businesses that are on Twitter, though, TweetDeck is a simple management system that helps users create customizable social media dashboards which they can use to send and receive different tweets, manage their accounts, and monitor their profiles.

Users can upload and save future tweets and posts in their scheduling domain and set their tweets to be posted on predetermined dates.

TweetDeck isn’t necessarily the most intriguing or complex platform out there, but it does serve a good purpose for business owners who are leveraging the possibilities of Twitter.

There are paid subscriptions, but smaller businesses that can get away with the basics will be able to enjoy the standard free features.

Friends+Me

Not many business owners and entrepreneurs know about this beginner social media management platform that includes several interesting features that are available for free to any person.

Something that sets Friend+Me aside from others is that it gives users the freedom to integrate with several browser extensions both on desktop and mobile devices and works on Android and iOS.

The basic free account also gives users access to post-scheduling options and automated actions such as creating new posts or even streaming content from RSS feeds.

All other integrations can be controlled and monitored from one account and work on Facebook, now Meta, Twitter, Tumblr, and Pinterest. Although there is the opportunity for the platform to become integrated with other popular social networks such as Instagram or TikTok, Friends+Me is a straightforward tool that gives small business owners just enough power to get their social media management under control.

There are some drawbacks, and the platform doesn’t come with all the bells and whistles that one would expect, but for a small team of marketers and creators, this could be the right tool that can help get them started with social media management.

Aside from the free and basic subscription options, users can also choose from paid plans which are between $9,00 and $1,200 per month. The bigger the plan, the more one can queue and schedule posts while also adding up to 50 team members when paying for the premium subscription.

CoSchedule

With so much cross-integration between social media networks while also including a business website, keeping track of and monitoring everything can be a tumultuous challenge at best.

CoSchedule is a bit more than a social media management tool, and it comes in different sizes depending on the scale of the business and social media marketing requirements.

For starters, CoSchedule has a built-in scheduling system that allows users to upload their posts and set them to be posted at a specific time. This might seem straightforward, but users can schedule a single post that can be posted across various social media networks at different times.

Users will also be able to view performance reports to see how a campaign or post has been performing. With this information at hand, it gives users a better chance to schedule posts to be posted at times when they are more likely to enjoy better exposure and interaction from followers.

Everything on CoSchedule can be done through a tailor-made publishing schedule, even messages to followers or follow-up messages. These features are all part of the free package, and for smaller, mid-tier businesses, there is a paid option that starts at $39,00 per month. Larger companies can request a quote directly from CoSchedule.

Performance is a key driver for CoSchedule, and that’s why many companies and entrepreneurs choose to work with a platform that allows them a lot more freedom, flexibility, and autonomy when it comes to managing their social media tasks and campaigns.

Social media has become such an integral part of organizations these days that some high-end and medium-tier brands spent an estimated $132 billion on social media advertising in 2020, with some experts suggesting this figure will grow exponentially in the coming years as more brands and consumers move online.

Traditionally, social media was seen as a powerful tool to connect and stay connected; nowadays, it’s a platform through which companies can establish an intersection of both media and commerce.

Rapidly changing consumer behaviour has led to companies adjusting their marketing strategies according to their customer’s needs; without change or innovation, many could see their profits being run into the ground.

Only in the last few years have we seen social commerce play a more prominent role in the way businesses operate. Changing consumer behaviour against the backdrop of younger generations – Millennials and Generation Z – now having more spending power is leading to surging demand for digital tools for companies to utilize properly.

Shopping on social media is big money, and in the United States, it’s estimated that by 2025 social commerce will inject close to $100 billion into the local economy. The majority of this comes from younger shoppers as they accumulate wealth and increase their spending power.

Research by the Influencing Marketing Factory revealed that more than 40% of Millennials and Gen Zs shopped on social media last year.

This marks a strong turning point in how companies not only present themselves online but also how they engage and sell to customers.

While there are a lot of factors that are directly woven into the success rate of social media performance, with the right guidance and management tools, smaller companies can achieve a success rate faster and more sustainably.

Cost Factor

From afar, social media management can seem intimidating, especially for younger entrepreneurs and small business owners.

Running a single-person operation or managing a team of a couple of employees is already taxing enough; checking up on social media performance only adds more burden to any business owner’s schedule. Not only this, there are specific costs involved when looking to hire a professional or purchase specific tools that can help to automate processes.

Social media management is more than posting a picture on Facebook and Instagram or responding to customer questions and comments directly. It’s also more than uploading short YouTube content videos hoping to receive countless views in a couple of days.

While customer experience is a key differentiator between a well-thought social media strategy and a lesser-planned one, analytics, and growth help to paint a better picture of where a company should be better focusing their efforts.

Sprout Social found that although brands will spend differently on social media management as this is largely based on their needs and goals, on average, some businesses will spend roughly $12,300 per month on managing their social accounts.

The breakdown consists of content creation ($5,250 per month), social advertising ($5,000 per month), and platform management ($2,050 per month), among other types of expenses that are not always accounted for when starting.

For small business owners, entrepreneurs, and freelancers, social media management costs can take a hefty bite out of their monthly budgets and profits. Using the right tools not only makes the work a lot less streamlined but can help deliver better insights on how strategies need to improve to gain more followership, grow brand awareness and drive sales.

The Takeaway

While social media has allowed businesses a new opportunity to gain better market attention while also increasing their profitability and brand loyalty, it’s also given them a new set of challenges that are not easy to overcome without the right set of tools.

Digital advancements have made it easier and more convenient for businesses to develop a social media marketing strategy that will help them become more efficient while also delivering engaging content on multiple social network channels.

These tools are becoming omnipresent, and for small business owners, it means that they have a way to build their social media and increase followership while at the same time managing all these properties from the comfort of a single dashboard.

Featured Image Credit: Pixabay; Pexels

Sourced from readwrite

By Nell Geraets and Billie Eder

he early days of TikTok were defined by catchy dance videos and cute puppy content. Nowadays, the social media platform influences global trends and consumer appetites, transforming the structure of modern-day advertising for companies big and small.

TikTok, which was launched by Beijing-based tech giant ByteDance in 2016, is quickly becoming a leading advertising platform, challenging the likes of Instagram, Facebook, and YouTube. In January 2022, creative agency We Are Social reported that the platform achieved an ad reach of 885 million users aged 18 and over, 60 million higher than in October 2021.

Its rapid marketing rise is largely attributed to two things: authenticity and shifting marketing models.

“TikTok is the way,” said Brent Coker, director of brand partnership at influencer agency Wear Cape. “Social media helps customers feel something. It’s almost the opposite of old-school, traditional marketing, which we called ‘push marketing’, where we would push our message on people. TikTok is more like ‘pull marketing’ where we’re providing entertainment value or informational value, and people are drawn to it through engagement.”

Australian TikTok stars Maddy MacRae, Millie Ford and Ella Watkins in paid partnership videos.
Australian TikTok stars Maddy MacRae, Millie Ford and Ella Watkins in paid partnership videos.Credit:TikTok

The platform is dominated by Generation Z and Millennials, with those aged 18 to 24 making up almost 43 per cent of the platform’s total audience aged 18 and above, according to We Are Social.

This demographic seeks entertaining and relatable content. According to the Global Web Index’s 2022 Millennials: A marketer’s manual report, 32 per cent of Millennials are spending less time on social media, but it doesn’t mean they’re losing interest in influencers. Rather, they’re curating their online time by engaging with accounts that are “more authentic”, with 53 per cent of Millennials saying they want brands to be reliable and 42 per cent saying they want brands to be authentic.

Where users once sought out brands that sponsored professional models to promote their products in a manicured way – generally through formal photo shoots on Instagram – Coker said TikTok’s core demographic are now bent on the honesty policy. They expect content that is “rough around the edges” from comedians, actors, or even everyday people offering a genuine assessment in a way that cuts through the glut of content and encourages engagement though likes, shares, comments or even a visit to the company’s landing page.

“TikTok is the way,” says Brent Coker, director of brand partnership at influencer agency Wear Cape.
“TikTok is the way,” says Brent Coker, director of brand partnership at influencer agency Wear Cape.

“We have more clients asking for TikTok than ever before,” said Coker. “The average engagement rate on Instagram is about 3 per cent. On TikTok, we’re looking at people with 18 to 20 per cent regular engagement.”

Australian Maddy MacRae is an example of a TikToker who has entered into paid partnerships with brands and created videos around their products. After going viral in February 2022 from a video about being a slice of white bread, fans and brands alike flocked to MacRae, who now has a following of 1.4 million people, and is known for her relatable videos about sex, mental health and the female body.

Some of the recent brands that MacRae has worked with are Modibodi, the Melanoma Institute Australia, V Energy Drink and L’Oreal, but it isn’t about working with every company that lands in her inbox, said MacRae. The brand and product needs to align with her values and her following.

“It needs to be something that I would use, and then it needs to be something that my audience would also like, and it also has to align with the style of content I make,” MacRae said.

For paid partnerships to be successful, TikToker Maddy MacRae said she needed to believe in the brand.
For paid partnerships to be successful, TikToker Maddy MacRae said she needed to believe in the brand.

“If I can’t make it funny and engaging, I’m going to find it hard to advertise that product, and it’s not going to fit on my page.”

Since her partnerships are curated to reflect the funny and authentic videos she makes, MacRae said she doesn’t really get any criticism for advertising products for brands.

“I think 99.9 per cent of my feedback for all partnerships is positive. People enjoy the content.”

University of Melbourne honorary professorial fellow John Sinclair said TikTok’s marketing success was further evidence of the shift from the mass-media age to the social-media age, where “native advertising” – in which the distinction between entertainment and advertising is blurred – dominates.

“Social media like TikTok enable advertisers to target prospective consumers because the platforms collect data on users’ behaviour, and this data lets advertisers reach prospects selectively, even individually,” said Sinclair. “Also, TikTok is ‘sticky’, keeping users engaged for longer to continue to be fed advertising.”

Subway Australia, which has entered into paid partnerships with TikTok stars such as Millie Ford and Christian Hull since launching on the platform earlier this year, said TikTok added a level of authenticity that wasn’t necessarily found in conventional advertising.

“TikTok partnerships, and social media partnerships more generally, have become another word-of-mouth tool that can have a similar level of credibility as if you were to get a recommendation from a relative or friend,” a Subway spokesperson said.

Subway is an example of a brand that is using TikTok to make brand messaging more relevant and niche to groups of like-minded audiences.
Subway is an example of a brand that is using TikTok to make brand messaging more relevant and niche to groups of like-minded audiences.Credit:TikTok

“This is of course only successful when like-minded content creators are engaged that then create content in line with their own personal brand and values creating a more authentic outcome.”

Subway said embracing TikTok wasn’t about trying to stay relevant by jumping on the social media bandwagon, it was more about making “brand messaging more relevant and niche to groups of like-minded audiences – not always possible through traditional advertising platforms such as billboards”.

To measure whether campaigns and partnerships are successful, Subway said they track data such as views, likes, comments and reach, and that sentiment and reaction were important in modifying content to make it better next time.

According to TikTok data, 67 per cent of surveyed users agreed the app inspired them to shop even when they weren’t looking to do so in October 2020, and 74 per cent said it inspired them to find out more about a brand online.

The Global Web Index’s “Connecting the dots: Discover the trends that’ll dominate 2023” global report similarly highlights the influence that TikTok has on young people’s purchasing habits, showing that 41 per cent of Generation Z and Millennials make an impulse purchase online every two to three weeks, a figure that rises to 48 per cent among daily TikTok users.

However, the report also indicates that in 2023 it’s going to become harder for companies and social media platforms to capture the attention of their consumers. Internet and screen time, which skyrocketed during lockdowns, has now returned to pre-pandemic figures, which “is a potential sign that people have reached a kind of internet saturation point”.

And, despite TikTok’s promising trajectory, advertising on the platform could seem like an expensive uphill battle, particularly if a brand is not willing to adapt its core image to suit the app’s upbeat and natural tone.

 

Cassie Hayward, associate professor in psychology at the University of Melbourne, says one of the best ways for a brand to develop trust and rapport with potential consumers is by sponsoring user-generated content that features the product or service.

“That relies on you letting go of the reins and seeing where the creators take it – that can be hard for a brand that is used to curating and micromanaging every aspect of their image,” Hayward said. “It is also a fast-moving world on TikTok … In traditional advertising, it can be months for an idea to go from conception to production, but on TikTok you have to be lightning fast.”

For some, social media can prove fickle, says Coker. An ad may trigger a surge in traffic one week and none the next. TikTok ads are a long game – if a company is unable to invest in maintaining a relevant campaign that carefully slots itself into the algorithm of the correct demographic, it becomes unlikely it will see a return in profit.

“I think some brands will try and fail on TikTok because they simply copy-paste their ads onto the platform and that will not lead to the desired engagement and results,” said Hayward.

The platform’s speed could also accelerate costs, given ad campaigns need to be renewed to keep up with ever-increasing competition. A TikTok spokesperson said while there was no “one size fits all” approach to costs, basic ads cost as little as $5 a day, while more advanced advertising campaigns would incur a greater price.

Hayward said companies such as cosmetics retailer Mecca can thrive on such a youth-oriented app; however, insurance companies or public health advertisers targeting an older audience or adopting a more serious tone may not fare as well.

All sponsored content on TikTok must comply with Australian advertising codes.
All sponsored content on TikTok must comply with Australian advertising codes.Credit:Getty

“It’s mainly about being where their audience is,” said Hayward. “It’s very easy to come across as trying way too hard to be cool – you’ll get the cringey eye-roll reaction as users scroll past … The platform itself advises brands ‘don’t make ads, make TikToks’, encouraging brands to drop their traditional notions of advertising and embrace the creativity of the platform. But this can be very hard to get right.”

All sponsored content on TikTok – whether created directly by a company or a sponsored content creator – must comply with Australian advertising codes, including the prohibition of false or misleading claims, said a TikTok spokesperson. Any branded content must be obviously signposted as such, either through the caption or video dialogue.

But since most ads on TikTok are user-generated, Hayward said it can become harder to tell when one is being sold something, thus creating a potential ethical dilemma. And since one doesn’t need to be following an account to see its content on their “For You” feed, users have little control over how often they encounter branded content.

“More so than the influencers on Instagram, many of the TikTok creators just come across as nice people, perhaps even a friend, often with an interesting niche – vintage fashion, running, wardrobe organising, vegan recipes, life hacks – establishing this sense of community is smart marketing, but I think that’s when the line between entertainment and advertisement can get blurry,” said Hayward.

By Nell Geraets and Billie Eder

Sourced from The Sydney Morning Herald