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Sunday, August 31, 2014

3 Ways to Communicate With Confidence



Being the face of your company is an unexpected, exciting and sometimes frightening aspect of entrepreneurship. For some, nothing throws them out of their element quite like public speaking, or being with a group of new people. But before you freeze up, keep these steps in mind.

1. Know your story. Have an answer ready in your back pocket to explain what you do, how you got started and why it's important to you.

2. Be curious. You'll find that asking questions will help take the pressure off. By inquiring about what others are excited about, you could learn something new, or find that you're in a position to help them.
 
3. Be an active listener. Conversation is about give and take. Make sure you aren't just hearing others but really listening to what they are saying.  Also don’t forget to laugh, nod and make eye contact when they are speaking.

Source: www.entrepreneur.com

Design Your Business Around Your Life--Not the Other Way Around



As an entrepreneur, you've probably heard it many times: "There's no such thing as work-life balance."

The widespread myth is that if you want to make it as an entrepreneur, you have to log 16-hour days in a windowless basement without coming up for air. But a startup is like a wild horse that will tear you apart unless you have a strategy to tame it.

Want to travel, work from the beach, or spend more time with your kids? With e-commerce businesses, you can decide where you want to live and build a $1 million-per-year business wherever you are.

I used to live in San Diego with a 45-minute commute each way, but then I figured out that I could build an office in my little beach community. Now our offices are a block from the beach, and I'm a five-minute drive away.

The Benefits of Putting Your Life First. You can live the life you want by engineering your business around your life. It takes work to achieve balance, but it packs enormous benefits:
  1. It charges your batteries. Just as your creativity and productivity come in spurts when you're working, entrepreneurship requires breaks to clear the mind. It's the reason people have their best ideas in the shower. That's why I take one extended trip each fall with friends to recharge. In the past few years, I've hit Colombia, Vietnam, Thailand, and Cambodia. This fall, I'm headed on a three-week trip to South Africa, Botswana, and Madagascar.
  2. It widens your lens. Travel, hobbies, and diverse interests make you a more interesting person, which allows you to have better conversations with others and come up with more-creative solutions. Nearly all my successful business ideas came from something I stumbled upon while venturing outside my day-to-day routine. If you keep your head down and only focus on work, you won't be able to identify new opportunities.
  3. It allows you to live without regrets. Focusing all of your energy on business does nothing more than make you good at business. You may be successful, but you'll probably die lonely without ever seeing the world.
3 Strategies for Breaking the Startup Horse. I'll be the first to admit that I put my social life on hold for three years when I was starting my business, but I've gotten better at stepping away and living a fuller life. And you know what? Things didn't fall apart. Here's how I tamed the beast:
  1. Learn the Art of Management by Absence. Tim Ferriss popularized the concept of management by absence with his brilliant book, The 4-Hour Workweek. The key is having great employees who allow you to step away from the day-to-day without things falling apart. When you learn how to outsource and give your team autonomy, it frees you up to create balance in your life.
    This approach has paid dividends for me. Since the change, I've started going to a kettlebell gym in the mornings (the first time I've ever set foot in a gym). Next on my list is to get back into tennis and maybe even dating.
  2. Rotate Your Focus One talk at the 2013 MastermindTalks in Toronto really struck a chord with me. One entrepreneur who spoke suggested that a good solution is to rotate your focus every four months between business, health, and relationships. I think this is a brilliant strategy that I'm in process of implementing.
  3. Leverage Technology Today's digital world gives us more options than ever to work from anywhere at any time. With near omnipresent high-speed Internet access, you can conduct business from virtually any location. I closed my Shark Tank investment deal with Mark Cuban from an Internet cafĂ© in Siem Reap, Cambodia.
5 Ways to Design Your Business Around Your Life. Here are a few ways to conduct business around your life--rather than the other way around:
  1. Outsource as much as you reasonably can. Fewer employees means fewer people to manage, hire, and fire. Use Elance to find high-quality talent you can outsource work to from anywhere.
  1. Keep your office on your phone. I use TurboScan to turn my phone into a portable scanner. You can also use your phone to store your ideas with Evernote, which allows you to record things and review them later.
  1. Take advantage of online banking. Virtually all of your vendors can and should be paid via online banking. Just set them all up as payees, and you can log in from anywhere to pay your bills. You can also use PayTrust, a service that opens your mail, scans your bills, and allows you to pay them with one click.
  1. Hold meetings via Skype. Most people are familiar with Skype, but few use it as much as they should. Body language vastly increases understanding, especially in international communication.
  1. Do your homework. Check out the Panjiva app. Panjiva aggregates U.S. homeland security data of every container that comes into the country and makes it searchable. With the contents' description, weight, destination, and origination, you can not only source products, but also see who your competitors use, find suppliers, and even get a picture of market share. (There, I just saved you millions!)
No matter how you approach your venture, remember that a startup is only all-consuming if you let it be. By hiring great people, outsourcing and automating where you can, and taking advantage of technology, you can design your business around the life you want to live. Go forth and create experiences. The world is your office.

Source: www.inc.com

7 Tips for Working With People Who Are Smarter Than You



It's entrepreneurship gospel--hire those who are smarter than you.
There's no mystery to this wisdom. Clever, skilled employees require less management, constantly teach you new things, and shore up your weaknesses. But while the rationale behind this oft-repeated tip is simple, executing it isn't.

The problem is people have egos and insecurities, and being surrounded by folks who are smarter than you can make you feel bad. Few would freely admit it, of course, but this is often the reason people fail to heed this obvious advice. Even the most assured among us can see their confidence erode when they're surrounded by geniuses.

So is it possible to rewire yourself to reap the benefits of a team of super-achievers without suffering self-esteem erosion, or does enjoying the company of a room full of brainiacs require an ego transplant and or years of therapy? It's possible indeed, answered a parade of responders on question-and-answer site Quora recently. Veterans of some of the brainiest companies in the world shared their experiences of feeling like the team dunce, as well as their advice for others who are suffering from self doubt. Here are some of their top tips.

Know Your Strengths

If you've been hired (or gotten to be the owner of a business), you must have something to offer the team. Focus on the strengths you possess, rather than the skills or knowledge you lack.
Andy Johns, an early Facebook employee, offers a greater metaphor for this bit of advice: "If a punter/field goal kicker showed up to practice with a new football team and thought 'Crap, all of these guys are bigger and more athletic than me!' and tried to outperform the wide receivers and running backs, they would fail miserably. But they don't. They focus on the intersection of their skills and experience and they focus on being the best punter/field goal kicker in the game. Within that more tightly defined role, they aim to perform."

Be the King (or Queen) of Questions

When surrounded by smart people, your first impulse may be to hide your ignorance, but that's the wrong way to go, according to Doug Edwards, Google's first director of marketing and brand management, who joined the company in 1999. If you don't ask questions, you'll never learn.
"It's much better to appear uninformed than to give the impression you know something you don't, which can come back to haunt you. I used to ask the engineers to explain things to me 'in little baby words that I can understand,'" he remembers. Engineer B. Nguyen agrees in snappy style: "The credo here really is, 'The only stupid question is the one not asked'. So ask and ask often."

Take Your Time

Getting comfortable among a team of whiz kids isn't something that happens over night, many of the responders warn. Getting to know, and learning from, truly smart collaborators can be a lengthy process, so don't expect to wake up a week later and feel totally comfortable.
"It took several years to be one of the top people," says Quora employee Jay Wacker of his experience arriving at the University of California, Berkeley, for grad school.

Imagine the Alternative

Leo Polovets, an ex-LinkedIn and Google employee who has a resume full of genius-filled environments, offers a simple but powerful trick to keep your perspective.
"How did I adjust?" he asks, "I considered the alternative to working with smarter people, and that was even less enticing. In my experience, working with people who are less smart/experienced than you is less educational, less rewarding, and more frustrating than working with those who are smarter/experienced. Working with great peers will help you up your game."

Remember What You Can Control

Sure, you were dealt whatever genetic hand you have when it comes to innate intellectual horsepower (though smarts may be more malleable than many of us believe), but there is still one giant factor 100% under your own control. As Gwynne Shotwell reminded the audience recently from the Women 2.0 Conference stage: "You can't control whether you're the smartest person in the room, but you can certainly control whether you're the most prepared."
"You can't get smarter. But you can always work harder than someone else," agrees Farhan Thawar, VP Engineeringat at XtremeLabs, on Quora, "so the adjustment is to work extremely hard at your craft until you feel like you fit in." Christina Bonnington, a writer for Wired, also concurs: "Pedigree doesn't mean anything. Work ethic is everything."

Read

This one may be simple, but it was one of the most common bits of advice. Charles Martin, for example, recalls that "a few year ago, I had a chance to work as a quant in a very large and successful hedge fund, and with former professors from MIT. The first thing I did was read the thesis of the managing director, so I could get 'into his head' and learn how he thinks. This made it much easier to work with him as a colleague." Consultant Mark Simchock boils it down to "read a lot."

Also, aim for diversity in what you pick up. You probably aren't going to out-expert the experts, but you could contribute that key piece of out-of-left-field knowledge. "I tried to absorb all the information I could from outside so that occasionally I could contribute a perspective that was different, without being completely idiotic," reports Edwards.

Don't Compete

The more you're competing the less you're learning and accomplishing. "Don't start competing. The day you'll accept the fact that there will always exist smarter people, learning will become much easier," advises Rajay Chamria. "Don't compete, contemplate," agrees Saraswati Chandra.

source; www.inc.com

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