10 Practices for Becoming a Self-Made Millionaire

Becoming a self-made millionaire is no easy task. Yet, for the individuals who have accomplished this major feat in the past, the process involves following a few set rules like these or guidelines that have proven to help self-made professionals, no matter what industry they may be in. If you have your sights focused on a life as a self-made millionaire then consider these rules to live by.

1. Do it for the challenge.

If you ask any self-made millionaire why they got started in the field they did, chances are they will not just say “to make a million dollars.” The true story behind most people’s success is that they wanted to accept the challenge of following their dreams and becoming successful on their own terms.

2. Never get too comfortable.

There should never be a time in your journey to the top where you stop and think “Ok, I’ve done enough, I can stop working so hard.” If you’ve met your goal and made a million dollars, set another one. You should never be comfortable, you should always be working for more.

3. Study and work harder than anyone.

No matter how talented you are, you will never reach your full potential success unless you are willing to study and work harder than anyone else. This is the only way to truly achieve your goals.

4. Learn from failures and mistakes.

You are going to make mistakes and you are going to fail. How you react to those failures is what makes you successful. If you fall, don’t get down on yourself, but look at why you failed, take it as a learning experience, brush it off and move on.

5. Read every day.

This rule cannot be emphasized enough -- you need to be reading all the time. Never stop reading and never stop finding new topics to read about. You need to keep aware of the cutting edge movements within your industry to stay ahead of the trends.

6. Keep your mind and body healthy.

Exercise along with mental health breaks are all an important part of being the most successful version of yourself that you can be. Work out daily, eat right and always get plenty of sleep.

7. Surround yourself with successful like-minded people.

Surrounding yourself with the wrong people can be a major drain on you. Make sure that you are around people who share your same goals and visions, who are motivated and are true peers that also want financial success. Being around these individuals will motivate you and help you stay focused. Avoid people who don’t care about work. People who spend all of their time partying are not good for your success.

8. Give to the less fortunate and take care of loved ones.

We’ve talked about taking care of your mind and body, but it is also important to take care of your soul. Never lose sight of the world around you and those who are in need. Taking care of your loved ones is one of the best ways to enjoy your financial success.

Give back to those in need. I started my Timothy Sykes Foundation to help those who are less fortunate. It has really made a difference in my perspective and work ethic.

9. Be honest and transparent.

Lying and being deceitful will never get you as far as you think. You need to always be honest, straightforward and transparent with people. This is a truly important and undervalued practice that will help you earn the long-term professional success you have always wanted.

10. To succeed think long-term, not short term.

So many people are focused only on their short-term success and have goals like “I want to make X amount of money in the next year.” Don’t focus on short-term goals, focus on the long-term big picture of where you want your life to be. These are the types of goals that will get you motivated to being truly self-sufficient and building actual wealth for you and your family.

While there undoubtedly is a certain amount of challenge that comes with becoming a self-made millionaire, if you keep these rules in mind and learn from the success of those who have accomplished this goal in the past, then you will be armed with the insight you need to help make your financial goals a reality.

05 5 Ways to Help Your Employees Feel Empowered

We’ve all seen it: the employee who shows great promise but won’t step up, or the employee who avoids making eye contact during team meetings in hopes that they won’t need to contribute. Or, worst of all, the employee who has no idea how their daily efforts contribute to the company’s overall success.  

These are all classic signs of employees who aren’t being empowered.

Employees only act as empowered as employers make them feel. When employees don’t feel empowered at work, they’re unlikely to take initiative or be top performers. A workforce full of “yes" men and women won't push an organization to success.

Here are five tips for helping employees feel empowered:

1. Start with a clear strategic vision.

The first step in empowering employees is to give them something to get excited about and to actively work toward. That something is the company’s vision statement.

Unlike a mission statement, which mostly serves shareholders by explaining the company’s reason for being, a vision statement is created to motivate employees. It describes where the company is, where it’s going and how it’s going to get from point A to point B.

Put the vision statement at the center of everything the company does to inspire and empower employees to work toward a common goal. 

2. Make sure everyone is on the same page.

Empowered employees have the knowledge and the confidence to make decisions. To ignite that knowledge and confidence in employees, make sure their individual work goals are aligned with those of the company.

Employees who are able to connect their efforts to the overall work of the company will find it much easier to make decisions that are in line with the organizational vision. So help employees set relevant work goals.

Gallup’s 2015 State of the American Manager report found that at least two-thirds of employees who strongly agree that their manager helps them set work priorities and goals are engaged. The more engaged employees are, the more productive they are.

3. Recognize efforts and reward successes.

The key to making employees feel confident enough to take initiative and make decisions is to simply reward those that do. Recognizing these efforts is the ultimate employee motivator, as it encourages the employee to continue doing what they’re doing, as well as inspire their team members to follow suit. This lets employees know their thoughts and opinions are valued and appreciated, making them all the more likely to speak up.

4. Remove roadblocks and provide assistance.

Eliminate any hurdles -- organizational policies, practices or habits -- that may keep employees from feeling or acting empowered. If you don’t have a culture based on open communication, for instance, employees may feel less inclined to come forward with new ideas and strategies.

Instead of relying on the traditional top-down communication from management, invite and welcome employee feedback by creating plenty of opportunities for employees to give their 2 cents.

Most important, empower employees by giving them the tools they need to succeed and lead. Provide the necessary training, a mentor, quality feedback -- anything and everything that will help them on their way to becoming more empowered.

5. Don’t hover.

To truly enable employees, employers need to be willing to take a step back. Some employees may find it easier to step up if they don’t feel like their every move is being monitored, not to mention evaluated. Monitoring an employee’s every move can have the opposite of the intended effect by impeding their ability to grow as professionals.

Sometimes the easiest way to empower employees is to give up control. Not only does this put more power in employees’ hands, but it also builds a greater sense of trust between employers and their employees.

As Bill Gates famously said, “As we look into the next century, leaders will be those who empower others.”

12 Powerful Secrets of Really Persuasive People

There are people who are very good at getting other people to do what they want, especially at work. So how do they do it?

You may be surprised to know that you probably already have the qualities you need to be persuasive. It doesn't mean you have to be manipulative or a suck-up. Genuine persuasiveness is an important part of being successful.

Here are 12 secrets of the most successfully persuasive people. Do you recognize any of these qualities within yourself? What areas do you need to cultivate?

1. Know how to connect.

A large part of whether persuasion is effective is based on the general rapport between you and your client/colleague/co-worker. If you don't know the person well, it's imperative to start building this rapport immediately -- find common ground as soon as possible and work cultivating a relationship.

2. Find other people's sweet spots.

Persuasive people make it a point to know the people they are speaking to. They learn who they are and study their preferences. They would never give a high-board vision to a person who likes details, and they wouldn't speak in declarative statements to a person who values collaboration. The more you pay attention to the sweet spots of others, the more you can tailor your message to their preferences.

3. Make a good impression.

Persuasive people know that making a good impression matters, because others will make a judgment about you within the first few seconds of meeting you. Persuasive people are aware that they must bring their best to every encounter.

4. Learn how to define needs.

Persuasive people know there has to be a need for what you are trying to sell or buy or get others to do. If there's no need, it just won't happen. Find an area that is missing something, then sell the needed improvement.

5. Develop emotional intelligence.

Persuasive people  know how to manage their emotions. They stay calm in conflict, and they don't get wrapped up in drama when things don't go their way. They stay steady and calm, and this leads people to trust them.

6. Know how to dance.

Persuasive people know that if they want to exert influence, pushing hard rarely works as well as dancing. One step back, two steps forward, one step to the side, one step forward -- progress requires a constant, graceful flow. Pushing forward just causes people to become defensive.

7. Be curious and inquisitive.

Persuasive people don't come with all the answers, but they do come ready with questions. The gift of being curious is that you can always learn more than you already know -- often you'll glean as much from the questions as the answers.

8. Display confidence.

Confidence is always compelling and impactful in a way no other quality can match. The more you believe in what you do, the more positively others respond. Most people seek in others the same confidence they desire in themselves.

9. Know how to inspire.

Persuasive people understand that it's human nature to want to fit in. When you empathize and connect on common ground, it reassures others and makes them feel they won't be left behind, which makes them want to follow your lead.

10. Learn how to be a great storyteller.

Persuasive people know how to tell a captivating story. They know that others are more likely to buy into an idea when they have a compelling vision of what they are being sold.

11. Get personal.

Persuasive people learn names and use them in conversation. This shows respect and validates the person they're speaking with.  

12. Be authentic and genuine.

Last but maybe most important, persuasive people know the value of being genuine and authentic. When people believe you are who you say you are, they know that you're not being manipulative or playing games, and they trust you all the more.

Don't underestimate your own capabilities -- you can learn what it means to be a persuasive person. Just do it with an authentic heart and genuine intention, and you'll always be on the right side.

05 Habits of the Wealthy That Helped Them Get Rich

Why do the rich keep getting richer? Most of the time, it’s not because of luck. It’s not because of the family they were born into. It’s not because they won the lottery.

Wealthy people simply do things differently.

It may not seem fair, but the fact is the “income gap” is increasing and most financial experts only see this trend continuing with no end in sight.

In preparation for this column, I sat down with someone who knows far more wealthy people than I will likely ever meet: Jeff Rose. Rose is a certified financial planner, author and blogger at GoodFinancialCents.com, as well as a millionaire himself, who dedicates a good portion of his time to helping people become, and stay, wealthy. 

I asked Rose why he thought the income gap was growing. He mentioned five primary things that wealthy people simply do differently than the rest of the world. Here are those five, in no particular order.

1. They take risks.

Rose explains that the wealthiest people he works with routinely “throw spaghetti at the wall to see what sticks.” In other words, they try a lot of different things, knowing that a lot of it will fail.

They take those risks because they know that failure is just part of the process in discovering what will truly work to build more wealth. Furthermore, as Rose explains, the rejection of those ideas invigorates the wealthy into finding what will work, a stark contrast to most of the population that simply looks at failure as a road block. 

2. They invest in themselves.

According to Rose, “wealthy people don’t look at the money spent on personal growth as an expense, but an investment.” 

While many individuals conserve every penny equally, the wealthy understand that strategically investing in themselves will produce a far greater return than any stock, real-estate investment or business venture.

Whether it’s purchasing a book, hiring a coach, joining a paid mastermind group or another source of paid self-improvement, the wealthy see this as an investment. Do you?

3. They associate with those they want to emulate.

When the human body gets too hot, it produces sweat in an attempt to cool down. When it becomes too cold, it shivers to produce heat. In other words, the human body is constantly adapting to keep its temperature at the same comfortable spot. This automatic leveling is a biological process known as homeostasis and is found in numerous aspects of life.

From human biology to the temperature of the earth to a car’s cruise control to the thermostat in your house, homeostasis is a fact of life that governs nearly every aspect of your existence. And, as the wealthy have discovered, homeostasis can also be a powerful way to build wealth.

As Rose stated bluntly to me, “If you want to be rich, hang around rich people.” 

Or as financial TV personality Dave Ramsey often says, “if there are four broke people in a room, you’ll be the fifth.”

Wealthy people have discovered that they can grow their wealth simply by associating with those who are even more wealthy. Humans pick up the habits and strategies of those in their immediate surroundings, and the wealthy have learned to use this homeostasis to their advantage.

4. They have a dedicated morning ritual.

While most of the world is hitting the snooze button 14 times in a row each morning, the wealthy have already begun increasing their net worth.

“Most of the multi-millionaires I know have a dedicated routine, a ritual, that they do each and every morning,” Rose says.

This morning ritual could include exercise, affirmations, goal reviews, breakfast or whatever else helps them start their days with a bang. They start strong, accomplishing more before noon than more people accomplish in a week.

For those struggling to get started each morning on the right foot, Rose recommends two books:

• The Miracle Morning by Hal Elrod
• The 10X Rule Daily Planner by Grant Cardone

In my own life, I've found this truth incredibly powerful. Since instituing a morning routine, I've quadrupled my income, written and published a bestselling real-estate investing book, lost 10 pounds, bought my dream house and deepened my relationship with my wife. Not bad for just a few minutes each morning of dedicated routine. 

5. They review their goals consistently.

Finally, according to Rose, the rich have clearly defined goals and continually review them to track their progress, make changes and develop strategies for meeting those goals. This process of immediate feedback allows the wealthy to make quick changes to their plans to keep the course in a rapidly-changing world.

While most of the human population gives little to no thought on their futures, the wealthy are reminded daily of where they are headed. Like a family taking a cross-country trip in their minivan, the rich have their road map spread out on the dashboard so they can navigate the fastest, easiest route to their destinations.

Rose admits that the wealth gap is far more complicated than a simple “five-point blog post.” However, he continually witnesses these five traits guiding the lives of those who are getting richer and has used them in his own life to create multiple businesses and build some serious wealth himself.

These five actions create a positive-feedback loop that will continue to make the rich richer, and there's no sign of that ceasing. The good news is, however, these five actions are all things that the average American can put into practice today. Will you?

10 Ways to Become a Paid Speaker

To turn you into a better public speaker, I'm not going to tell you to stand up straight, avoid verbal "fillers," speak clearly or abstain from reading from your slides. That was probably on your group-presentation rubric back in high school. 

Instead, I want to focus on what differentiates a volunteer speaker from a paid speaker. Your value isn't only what's listed on your LinkedIn profile, but also in the delivery and branding, and the experience, you give your audience.

Here are ten tips to help you start charging for your speeches.

1. Solve a problem.

As a speaker, you could go onstage and share a thrilling story about how you jumped off a cliff and built a parachute on the way down. Yes, that's a cool story, and it would be a hit at parties. But your audience is there to be taught and inspired. Therefore, you need to ask yourself, "What problem am I solving?" If you share the story about jumping off the cliff and building that parachute, follow up with the importance of thinking on your feet and taking risks. As you create content for a speech, always think about what it's going to solve.

2. Tell a story.

That said, your first instinct -- to stand onstage and tell people how to live their lives but not connect to what you've done in your life -- probably won't end in a standing ovation. For example, a part of my speech deals with failure therapy and moving past rejection. I give the example of how, when I was in sixth grade, I submitted a poem every day for two months to Chicken Soup for the Soul. 

One day, I got a letter in the mail saying that one of my poems was going to be published and I would be paid $75 (which for a sixth grader was basically like winning the lottery). When I told my friends and family I was getting published, I left out the minor detail that this had been my 65th attempt. Even though I had been rejected dozens of times, I only had to be right once. 

Using this story not only has entertainment value, but teaches my audience through example rather than just a litany of lessons. 

3. Have some one-liners ready.

Nowadays, most audience members have their phones out during a speaker presentation looking to tweet or post something they've learned, which is a great opportunity for you to get social media exposure. Therefore, you want to make this as easy as possible.

Figure out what the "one-liners" are in your talk. For example, I talk about the first day I started my company and my only order was from my mom. I was confused because I had all the plans in place, I had the vision, and my website was live. But I learned that, "It's not about what we do when we dream. It's about what we do when we wake up."

This is always the most tweeted line of any presentation I give. I put this exact line on a slide with my Twitter handle below it and click to it as soon as I start saying the line. This makes it simple and easy for an audience member to take out his or her phone and tweet away.

Another trick is possible if you know a conference staff member will be actively tweeting your talk. Send him or her your one liners ahead of time and the approximate time they'll be said. Not only will your most popular lines be tweeted, the conference will love how organized you are. 

4. Offer some laugh lines.

One of my good speaker-friends, Jeremy Poincenot, became legally blind at the age of 19. He's now the Blind Golf Champion of the world and shares his story through professional speaking. Sure, he could make his talk super depressing about how he once had 20/20 vision and then suffered when it was stripped away from him one day in college.

Instead, he makes his story inspiring but funny. He'll share stories about his thinking he had a scratch on his car and starting to wipe it off before realizing it was bird feces; at the same time, he'll use the hashtag #BlindGuyProblems. You too might have a really inspiring story and lots of useful lessons, but if the audience isn't entertained, you'll most likely not get booked. Some people say you don't have to be funny to be a speaker. I agree, but I think you have to be funny to be a paid speaker.

5. Make yours a visually appealing presentation.

Your visual aid isn't there to help you, it's there to help your audience. You should be able to talk without having to check what's on the screen behind you. That said, if your slides are so simple a middle school student could create them, it's time for a visual revamp. I like using programs like Canva.com to create visually appealing slides and infographics.

To be safe, use a black background and white font so text pops from the screen. Also, before you give a talk, check with the host and see what dimensions the screen will be so you can format your PowerPoint properly. 

6. Create a website.

This should be obvious, but just in case, here it is. You should 100 percent without a doubt have a speaking website. I personally use Weebly for mine and love how simple and user friendly it is. Your website doesn't have to be loaded with content.

But some things to include are: headshot, bio, titles and summaries of your keynotes, testimonials, video footage, social links, a contact form and instructions for booking. Once you start getting some gigs on the calendar, you can also include your speaking schedule for the next few months so people can see you're in demand. 

7. Have a video.

To think a potential customer would pay thousands of dollars for a speaker to come in without seeing this person speak is a little unrealistic, unless that person has had a killer referral. So, the next time you speak (especially if it's on an awesome stage before a large crowd), invest in camera and audio equipment to film it.

Even better, you might learn that your host will have a tech crew filming it anyway, so be sure to ask to use the footage. I've done discounts on my gigs in exchange for high-quality footage. Once you have a few different videos, create a promo video or a speaker reel to put on your website and in your email signature. 

8. Get testimonials.

At the end of your talk, if people are coming up to you and saying you're the best thing walking the face of the earth, ask if you can quote them in a testimonial. If they're super jacked about you, ask them to write a testimonial about their experience and email it to you.

In business today, reviews are your bread and butter. To thank audience attendees for writing a testimonial, I offer one of my books or one of the headbands from my company. If you've formed an especially good relationship with a customer who enjoyed your talk, request his or her participation as a referral for future gigs. Better yet, ask for introductions to any other organizations that might need a speaker. 

I once did a gig for someone who had seen me speak before in exchange for three written testimonials and three email introductions to other companies that might need speakers. Put it in the contract, and you could get a big return.

9. Have a clear ending.

There's nothing more awkward than a slow clap because the audience doesn't know if the speaker is finished or just pausing. Sometimes I awake in a cold sweat and have nightmares about applause starting before I'm done (I'm being serious). So, don't have an end slide that says "Thank you!" Have a strong, clear ending that motivates even the person texting the whole time to stand up and clap. 

Unless the host asks, I wouldn't do audience Q&A either, after you've finished. It can fizz out the excitement of your ending. Instead, take individual questions at the side of the stage after you're done. 

10) Create your speaker fee.

Now that you're a problem-solving speaker with stories, one-liners, beautiful slides, an awesome website, killer testimonials, a five-star promo video and a mic-drop ending, let's talk about the green. When a customer pays for you, you're not being paid just for an hour of your time onstage, but for every moment and every hurdle you've jumped to be able to stand on that stage and inspire that audience. That customer is paying for the change you're going to make in audience members after they walk out the door.

This is hard to quantify, so first look at the market. What are other speakers charging? What credentials can you offer that make you more valuable? For example, after I was featured on the Today Show, I raised my fee because I gained more credibility.

This also goes for publishing a book, getting a degree or being able to tout any other professional milestones. You can value yourself by how often you speak and how long you've been speaking for. Your fee can fluctuate over time, and depend on the nature of the opportunity (e.g., travel cost, length of time you stay, etc.)

Another good idea is to obtain representation (I use CampusSpeak for my college gigs) to handle the logistics of your talks. Depending on the individual agency, sometimes it will handle your marketing, travel and contracts in exchange for a flat fee per gig or a percentage of your speaker fee. 

Good luck on the speakers' trail!

05 myths about startups in India

Globally, startups have become more diverse and abundant. There is an ecosystem that has been under creation over a decade and now seems to be working in a seamless order, with a heavy machinery of experts, venture capitalists and successful entrepreneurs mentoring the newcomers and backing the bright ideas.

Besides the risk bearing attitude of a millennial generation today, innovation and technology is further fuelling the ecosystem. Globally, it is estimated there are over 100 billion dollar startups that have seen valuations going up right from their seed stage. 

India’s business skyline boasts of several startups, some around 200 last year. The World Bank and the IMF had forecasted that India will outpace China's growth in 2016-17 after a robust 7.5 per cent expansion in the October-December quarter last year. Despite, estimates reveal that for every hundred new ventures, at least 90 per cent fail, and there are factors other than just idea turning into a trash. Hence, it is important to understand some myths associated with starting up and being an entrepreneur:

5 myths for an Indian Entrepreneur to face:

1. Entrepreneurs are born not made

This is a biggest myth. Look around and you will hardly see second or third generation entrepreneurs. Either there are bootstrapped startups or there are professionals that have sought funding from Angels or VCs. It starts with grit and loads of willingness along with a great idea that can be backed by innovation in terms of technology or product / service offerings. Practice makes an entrepreneur perfect or nearly so.

2. Entrepreneurs are stakers

Now, this is lunatic. From an investor’s point of view whether angel or institution, risks are more or less of same magnitude. Factors for entrepreneurs, while starting of his own, remains the same – there are bucks riding on his idea, his risk bearing attitude, his people management skills and ability to scale up. His energy, time, focus and clarity about running his business imply whether it will turn into a failure or a success. There is a big chance for him to prove his mettle; it will not only be disheartening for him to face a failure, it will be a big dampener to his self confidence, at least for a while till he starts all over again.

3. Motivated primarily by money

Recent examples of Founders and CEOs of Indian startups could be seen, who have left their own businesses due to differences with management or the company turning too commercial. This is usually noticeable soon after too many hands i.e., investors take over the realms. They are seen as high headed as they forego big monies after the venture has reached huge valuations running into billions of dollars. At times, it is seen they leave as their passion and energies have seen a downslide. Once a dream turns into a nightmare for them, they feel suffocated and drained.

4. Entrepreneur should be young

Not unless they are Bill Gates or Mark Zuckerberg. Younger the better but not mandatory, there are no rule books that are sacrosanct. Apple was founded by Steve Jobs at a very young age, but it was his second coming at later age that led Apple to greater heights. Qualcomm, for example, was founded by Irwin Jacobs when he was 52 and Andrew Viterbi, who was 50.

5. ESOPs and flexible timings are enough

While young college pass outs are still open to working in new organizations, middle level or top level executives may still fear joining young organisations simply due to the way they have been groomed in bigger and more professional looking set-ups. Definition of demonstrating good attitude for work in a  startup may mean differently, it is primarily to do with people volunteering to take up extra responsibilities or challenges, are self motivating, perform multiple tasking and are driven by passion to work and coping up ability. They may be happy with ESOPs and flexible working hours but they need more like team spirit building exercises, empowerment in terms of taking decisions regarding their work plans and a lot of one-on-one time with the leader.

05 Ways Startups Can Beat Big Companies

One of the most intimidating things entrepreneurs face is the fact that some of their competitors are massive multi-billion dollar corporations. Everyone knows the story of David and Goliath; occasionally the underdog wins.  But in the real world, the giant wins a lot (if not most) of the time.

This was a reality I faced when I started GMM Nonstick Coatings in 2007, a manufacturer of nonstick coatings for cookware, bakeware and appliances. We were a true startup: no employees, clients or products.  Our main competitor was DuPont, whose multi-billion dollar brand Teflon has been a household name for decades.  Other industry competitors were subsidiaries of global conglomerates with facilities that looked like museums. I remember walking trade shows with a rolling suitcase alone, not being able to get any meetings and wondering what I was thinking.

However, over the last eight years, my partner and I built our company into one of the largest nonstick coatings companies in the world.  So how did we do it?  Below are five principles that helped us beat our giant competitors: 

1. Be fast

Sure, big companies have big resources.  But you know what else they have?  Big bureaucracy. In other words, they are SLOW.  And if there's something clients hate, it's slow service. 

We built our company with a culture of lightning fast speed: emails responded to within minutes or hours, samples delivered within weeks instead of months and a team of phenomenal sales and technical personnel who were empowered to make decisions on the spot.  Big companies are rarely built to be fast, so use this weakness to your advantage as you create your company DNA.

2. Be relentless

Get used to hearing “no” constantly in the beginning, but don't lose heart.  Keep finding excuses to email or meet potential clients. Sourcing managers are smart, and even if they say no, they remember when a small company is impressive.

Also, many large companies are entitled and take clients for granted.  So when you get the tiniest opportunity, kill it with great performance. 

3. Never be intimidated 

Everyone knows that you are a small company, but you don't have to act like one.  Just because your competition spends hundreds of millions of dollars on R&D or marketing does not mean they are better than you. Hire superstars who know how to develop fantastic products and who are passionate about your business. It shows you're a true leader. 

Exude irrational confidence, be smart, demand execution and believe in the power of self-fulfilling prophecy. If you believe that your larger competitors have no chance to beat you, one day they actually won't be able to.

4. Listen

Huge companies can be surprisingly tone-deaf and may not know (or care) what their clients want.  Many times they have off-the-shelf products that they won’t modify even if their clients beg them to do so.  As a small business, do the opposite. Create an ethos that’s client obsessed.  Customize everything if you can and above all LISTEN to your clients. They will tell you exactly what they want. You just have to deliver. Clients love suppliers who do one thing: solve their problems. And solving problems starts with listening.

5. Understand things don't happen overnight

It took us eight years to build GMM to the size it is today.  However, from the beginning we had a clear vision of where we were going. Don't get discouraged because the first 10, 20 or 100 sales calls go nowhere. It only takes one break to change everything, and you never know when that break is going to come.  

And once that big break happens, work even harder.  Take nothing for granted. After a few more big breaks, you will have another problem: You're not a small company anymore, and you have to learn how to scale.  But that's a conversation for another day.

05 Questions to Ask Before Signing a Term Sheet

Startups looking for a venture capital investor often struggle to navigate the different options out there. How do you find the best VC to help turn your startup into a major player? What do good VCs do that the not-so-good ones don't?

Here are five things to look for when evaluating potential investment partners.

1. Can they actually measure and predict their performance?

If you want to impress a VC, says OpenView’s founder, Scott Maxwell, you should be able to predict the performance of your operating model -- by offering a clear understanding of the model, knowing your warning indicators and benchmarking against other competitors. This holds true for VCs as well.

They need to be able to show you the system they use to track their portfolio companies, look for signs of success and warnings and predict what they (and you) can do with this information. Such tracking comes from documenting their own real results; measuring any increase in sales or decrease in sales cycles; and opening up new markets for their portfolio companies.

2. Are they experts in their field?

A good venture capital firm will employ people who have actually worked in software and led software companies. In other words, they have some real world experience in the market that you operate in and care about. True experts will be able to help you develop go-to-market strategies, create in-depth marketing blueprints, recruit new talent, help train your sales team, help with market research and much more.

While any VCs can say they have value-add teams and experts on staff, only a handful of firms actually follow through. Just as VCs need to do their due diligence, startups need to check references, too. Be sure to speak with a firm’s existing portfolio companies to see if all that talk actually translates into action once the term sheet is signed.

3. Do they provide a quick response?

This may not seem like much, but when you're trying to run your business and need help from your VC, you'll want to know you can get the help you need when you need it.

If you want to test a VC firm, email someone there (an associate or partner you’re interacting with, or someone on the value-add team) and see if that person actually responds. You should be able to get a response back in fairly short order. After all, the VC firm's goal is to help its portfolio succeed. If its personnel aren't doing that, you really can’t be sure what they’re doing.

4. Do they recognize their own weaknesses?

In a recent blog post I noted that one of the five things great entrepreneurs do is recognize their own weaknesses and work to overcome them. They see their problem areas and are willing to fix them.

It's the same with a VC firm. If its personnel have a hole or gap in their core competencies, they'll work to close it up by hiring professionals with the necessary skills and experience to solve the problem.

5. Are they intellectually curious?

If you've never met with VCs, be prepared to answer a lot of questions. A lot of questions. Think of a time when you were peppered with questions fired at you from all directions. It's like that, only more intense. They should want to know a lot about you, your company, idea, market and competition and be willing to go beyond the superficial.

As one of my partners, Blake Bartlett, has said, “Much of a VC’s time is spent meeting with people who all make big, hairy, heavily-biased claims. Taking everyone at face value is a recipe for disaster -- competitors bash their rivals; startups minimize the threat of an incumbent; executives inflate their departments’ achievements; and customers can be over-eager early adopters, on one hand, or stubborn hold-outs on the other. 

"You must ask, “why?” over and over until you have enough dots to connect.”

When you're looking for a VC, then, keep in mind that you're looking for a partner whose mission will be to help your company grow and succeed. The good VC firms will help you grow by providing you with as much talent, expertise and work as you can handle.

The not-so-good ones won't.

So, find one whose staff know what they're doing, can prove it and have the experience and knowledge to help you meet your goals.

05 Biggest Regrets Entrepreneurs Face

Entrepreneurship can be a glamorous lifestyle -- you get to make your own rules, set your own hours and reap the benefits when your company becomes successful -- but first there’s a dark side that rarely gets mentioned. Specifically: The pressure is enormous, the work is taxing (to say the least). And there’s always the haunting possibility that your business will fail.

Regardless of a business' circumstances and ultimate fate, the entrepreneur behind it can suffer some heavy emotional losses as well as financial ones.

Of the common regrets I’ve seen or heard of in the world of entrepreneurship, the following five, in particular, have plagued entrepreneurs long after they exited their respective businesses:

1. Not taking more risks.

Becoming an entrepreneur is, in itself, a risk, but once you're in that role, your mentality changes. You have actual skin in the game -- you might have a lump of your personal savings invested in the company, for instance. But even if you don’t, your future income potential is entirely dependent on your company’s success. And that kind of thinking can easily lead to a long-term conservative style of management, where you mitigate risks by sticking only to what you know has been effective in the past. You rarely try new strategies or expand in new markets.

This approach won’t ruin you. In fact, if you have a good process in place, it can guarantee a steady line of revenue for the foreseeable future. But, five years from now, you’ll wonder: What if I had taken more of a risk?

There’s a higher possibility of failure with a risk, but there’s also the possibility of substantial more success; and that lost opportunity may haunt you if you don’t get over this emotional hurdle and manage to insert at least some risks into your approach.

2. Not hiring the right people.

New entrepreneurs with great ideas tend to be energetic, making fast decisions and pushing the pace to get a product on the market as fast as humanly possible. Sometimes that push involves filling seats as fast as possible -- with little regard for who’s filling them. Take it from me, an entrepreneur of multiple ventures: Who you put in those seats truly matters.

A dedicated, hard-working, reliable, trustworthy worker is very different from one who’s there only to collect a paycheck. And beyond that, an amiable, fun, approachable worker is very different from one who’s antisocial or isolated. Take the time to find the right people for the job. It’s worth it.

3. Not listening to others enough.

When you first step into the role of entrepreneur, one of the greatest appeals is the ability to make your own decisions. You alone have the final say on your company’s direction, from broad strategies to daily minutiae (if you choose to involve yourself in such things).

But it’s rare that an entrepreneur becomes successful by listening to his/her own intuition only. Instead, most successful business owners rely on a team of advisors, who are experts in their respective niches. This team might be composed of mentors, colleagues, partners or employees; it doesn’t matter. What matters is that you listen to others’ opinions. Even if you end up disagreeing and making a separate decision, you’ll have more information about the nature and possible effects of that decision.

4. Taking the job too seriously.

Once you become an entrepreneur, the success of your company becomes inseparably correlated with your own personal success. As such, it’s easy to become radically invested in your position, scrutinizing every detail and spending all your time working with your nose to the grindstone.

But such an approach cultivates a dour workplace, and will likely alienate your team of workers; even worse, it will sour your own mood on a daily basis, eating away at you every day you go in. Liberate yourself by finding the humor and fun in your position, and relating that to others when you can.

5. Not taking enough personal time.

Work-life balance is difficult to strike, but it’s necessary if you want to retain your own sanity. It’s too easy to get lost in 100-hour workweeks and vanishing weekends when you’re in charge of your own company and your own destiny. For the sake of your friends, family and your own personal health, prioritize some time away from work. Let go of your responsibilities long enough to relieve some stress, and never sacrifice what’s most important to you in life.

Remember, entrepreneurship isn’t all about getting to an end destination. Certainly, the appeal of acquiring wealth or developing a larger-than-life reputation is undeniable, but entrepreneurship is about the journey as much as the end goal. Take time to consider your decisions carefully, surround yourself with people that you like and enjoy yourself as much as possible without abandoning your responsibilities.

Finding that balance is much harder in practice than it is on paper, but with enough dedication and the right mentality, you’ll find it in time. If you’re just getting started with entrepreneurship and want a helping hand, grab my eBook, The Modern Entrepreneur: How to Build a Successful Startup, from Beginning to End.

07 Defining Characteristics of Evergreen Companies

Venture capitalist Dave Whorton and Red Herring co-founder Chris Alden use the term evergreen to describe the increasing number of private, profitable, market-leading businesses that are designed to remain unsold and independent for a long, long time. In a manifesto released at the launch of the Tugboat Institute, Whorton and Alden identified what they saw as the seven defining characteristics of evergreen companies. In what they consider their order of importance, they are:

1. Purpose
Being passionately driven by a compelling vision and mission.

2. Perseverance
Having the ambition and the resilience to overcome obstacles and keep pursuing the mission indefinitely into the future. (Integrated Project Management is a case in point.)

3. People First
Engaging a work force of talented associates who excel as a team and are motivated by the mission and the culture, as well as compensation, in the belief that, by taking care of them, they will take care of the business, customers, suppliers, and community.

4. Private
Taking advantage of the ability of closely held private companies to have a longer-term view and more operating flexibility than public or exit-oriented businesses.

5. Profit
Measuring success by the number that provides the most accurate gauge of customer value delivered.

6. Paced Growth
Having the discipline to focus on long-term strategy and grow steadily and consistently each year. (A good example: Jack Stack's manufacturing company, SRC Holdings, in Springfield, Missouri, which has aimed for and achieved 10 to 15 percent growth per year for more than 30 years.)

7. Pragmatic Innovation

Embracing a continuous-improvement process built around taking calculated risks to innovate creatively within the constraints of the business.

05 Surprising Things Super Successful People Do

What separates the super successful from everyone else? There are well-known factors such as work ethic, passion, intelligence and grit. But there are also less obvious habits that allow certain individuals to separate themselves from the pack and become truly great at what they do.

Below are five common behaviors of the super successful.

1. They avoid decision fatigue.

Did you know willpower is a finite resource? It's true. It's like a gas tank.

In the morning, our gas tanks are full. But most of us wake up and immediately begin to make small decisions. Each one uses a small amount of willpower, burning some of the gas in our tanks and depleting our reserves for the rest of the day.

Super successful people recognize that by wasting their willpower on unimportant decisions, they have less fuel to make great decisions on the things that really matter in their lives and businesses.

This theory helps explain why Facebook CEO Mark Zuckerberg never strays from his uniform of a gray t-shirt and black hoodie and why Tim Ferriss eats the same thing for breakfast every day.

2. They’re not afraid to say no.

We've long been taught to seize every opportunity. We're supposed to say yes to everything that comes up, managing our own priorities while also being a team player. Counterintuitively, it’s this can-do attitude that often holds us back.

As billionaire Warren Buffett said, "The difference between successful people and really successful people is that really successful people say no to almost everything.”

Every time you say no to a low-priority obligation, you free up time and energy to chase after what you really want.

3. They embrace boredom.

Super successful people generally have the resources to go on adventures, travel, try new things and learn new skills.

In the face of all this stimulating opportunity, many embrace boredom. Why? When it comes to business and personal development, they realize that growth is often the result of slow, incremental improvements.

Olympic gold medalist Michael Phelps didn’t become the fastest swimmer in the world overnight. Instead, he embraced a rigid, repetitive series of pre-practice actions that primed his mind and body for success in the pool.

Mastering a skill typically requires sticking to a routine. Many successful athletes, artists, entrepreneurs and business leaders have embraced the boredom of repetition in order to master their crafts.

4. They don’t try to improve their weaknesses.

You know that annoying question you're often asked in job interviews?

It goes something like this: "What is your biggest weakness, and how have you tried to improve it?"

Most of us have an answer ready: we endeavour to be more focused, more patient, better verbal communicators etc.

Super successful people don’t think this way, however. They view improving their weaknesses as a fool's errand and instead focus on channeling their energies into areas where they naturally excel.

As author and researcher Tom Rath put it, "If you spend your life trying to be good at everything, you will never be great at anything.”

5. They wake up before the sun rises.

What do CEOs and entrepreneurial millionaires have in common? They wake up early.

Business leaders from Richard Branson to Margaret Thatcher and Howard Schultz report rising long before the sun does. While the majority of us are still snoozing, they’re meditating, exercising, engaging in creative work and generally getting a productive start to the day.

Looks like Ben Franklin was onto something when he said: "Early to bed and early to rise makes and man healthy, wealthy and wise."

05 Surprising Things Super Successful People Do

What separates the super successful from everyone else? There are well-known factors such as work ethic, passion, intelligence and grit. But there are also less obvious habits that allow certain individuals to separate themselves from the pack and become truly great at what they do.

Below are five common behaviors of the super successful.

1. They avoid decision fatigue.

Did you know willpower is a finite resource? It's true. It's like a gas tank.

In the morning, our gas tanks are full. But most of us wake up and immediately begin to make small decisions. Each one uses a small amount of willpower, burning some of the gas in our tanks and depleting our reserves for the rest of the day.

Super successful people recognize that by wasting their willpower on unimportant decisions, they have less fuel to make great decisions on the things that really matter in their lives and businesses. 

This theory helps explain why Facebook CEO Mark Zuckerberg never strays from his uniform of a gray t-shirt and black hoodie and why Tim Ferriss eats the same thing for breakfast every day.

2. They’re not afraid to say no.

We've long been taught to seize every opportunity. We're supposed to say yes to everything that comes up, managing our own priorities while also being a team player. Counterintuitively, it’s this can-do attitude that often holds us back.

As billionaire Warren Buffett said, "The difference between successful people and really successful people is that really successful people say no to almost everything.”

Every time you say no to a low-priority obligation, you free up time and energy to chase after what you really want.

3. They embrace boredom.

Super successful people generally have the resources to go on adventures, travel, try new things and learn new skills.

In the face of all this stimulating opportunity, many embrace boredom. Why? When it comes to business and personal development, they realize that growth is often the result of slow, incremental improvements.

Olympic gold medalist Michael Phelps didn’t become the fastest swimmer in the world overnight. Instead, he embraced a rigid, repetitive series of pre-practice actions that primed his mind and body for success in the pool. 

Mastering a skill typically requires sticking to a routine. Many successful athletes, artists, entrepreneurs and business leaders have embraced the boredom of repetition in order to master their crafts.

4. They don’t try to improve their weaknesses.

You know that annoying question you're often asked in job interviews?

It goes something like this: "What is your biggest weakness, and how have you tried to improve it?"

Most of us have an answer ready: we endeavour to be more focused, more patient, better verbal communicators etc.

Super successful people don’t think this way, however. They view improving their weaknesses as a fool's errand and instead focus on channeling their energies into areas where they naturally excel.

As author and researcher Tom Rath put it, "If you spend your life trying to be good at everything, you will never be great at anything.”

5. They wake up before the sun rises.

What do CEOs and entrepreneurial millionaires have in common? They wake up early.

Business leaders from Richard Branson to Margaret Thatcher and Howard Schultz report rising long before the sun does. While the majority of us are still snoozing, they’re meditating, exercising, engaging in creative work and generally getting a productive start to the day.

Looks like Ben Franklin was onto something when he said: "Early to bed and early to rise makes and man healthy, wealthy and wise."

05 Enjoyable Weekend Habits That Set You Up for Success

“If you fail to plan, you are planning to fail.”

--Benjamin Franklin

Understandably, the weekend is a time when many workers focus on relaxation, family and fun. And there’s nothing at all wrong with that, but you can also think bigger. Instead of simply using the weekend for leisure time, there are things you can do ahead of time to help your next work week go more smoothly.

Unfortunately, we rarely appreciate the power habits can have in transforming our lives. Whether you’re new to habit-building or you’re an old hand, give these five weekend habits a try in order to set yourself up for a successful work week.

1. Get enough sleep.

Many times, we throw away our typical schedules on weekends - telling ourselves that staying out late or getting less sleep is “no problem” since it’s the weekend. But this habit sets you up for failure by making it hard to get up on schedule on Monday morning.

Everyone needs a different amount of sleep, but it’s rarely less than 6.5 to 7.5 hours. Studies show that too little sleep causes significant problems with brain function. Sleep deficiency causes trouble making decisions, controlling your mood and problem solving. Prolonged sleep deficiency can increase your risk of heart disease, diabetes, and stroke.

These negative effects keep your work week from being as productive as possible. The habit of keeping your sleep schedule regular on weekends will set you up to be much more successful at work in the coming week.

2. Make time for fun.

A weekend should be a break from work, not a continuation of it. Unfortunately, a 2010 study showed that one-third of US employees work additional hours on weekends (entrepreneurs and business owners are especially guilty of this work-related sin). Don’t do it! Take the weekend to relax, unwind and pursue your hobbies. Remember, Warren Buffett plays the ukulele in his spare time. If he’s got time for fun, so do you.

If leisure time is a foreign concept to you, try spending time playing with your children, doing an art project, enjoying time with a spouse, or just going for a walk in nature and taking in the birds and scenery. Do something you’ll enjoy. Make a habit of having fun on weekends to clear your mind and come back to the office feeling refreshed.

3. Give thanks

Many of the most successful people in the world make a habit of giving thanks. This is an especially good practice to incorporate on weekends if you’re dreading Monday morning.

Instead of hating the upcoming work week, make a habit of taking time on the weekend to be thankful for all of the good things in your life. Be grateful you have a job to go to (or a business to run), a place to live, a family and friends who love you, and much more. Write down in a special journal three to five specific things you’re grateful for, no matter how small. You’ll find making a habit of gratitude makes the upcoming work week easier to face and more enjoyable.

If you find yourself dragging at the start of the week, re-read your journal entries. The inspiration you’ll feel will help you return to work in a more successful, productive mindset.

4. Look at the big picture.

Weekends are an important opportunity to step back and look at the big picture. How are things going in your personal and professional life? An unhurried Saturday or Sunday is a good time to reflect and plan for your future. Are you happy with your career? Is your family life all you hoped it would be? If not, what kind of changes do you need to make?

Get into the habit of reviewing your progress on monthly or yearly goals. Have you been able to workout three times a week? If not, how can you work it in this coming week? By tracking how your goals are progressing, you can make changes as needed for the upcoming work week. These big picture habits help you succeed in all areas of your life - work and otherwise.

5. Plan the week Sunday night.

Many people don't think about the work week until it’s upon them. That’s asking for trouble. It’s much better to think about and plan the week ahead on Sunday night than Monday morning.

This means planning everything from the outfit you’ll wear the next day to deciding who will pick up the kids and what’s for supper. Get kids in on the act by having them choose their school clothes and making sure they have everything they need in their backpacks ahead of time. This habit will save you a ton of headache on Monday morning, enabling you to be much more successful during the week.

All of that said, the most important thing about these five tips is to make them habits. Habits - something we do all the time without thinking - are an essential way to save your brain power for more important decisions. When you habitually do all five of these things on the weekends, you’ll be set up for a successful work week, every week, without fail.

05 Ws of Outsourcing Your Company's Content Creation

Content creation can get a bit out of hand, especially if you’ve made the brave decision to outsource some of the work. I’ve dealt with plenty of outsourcers, and it’s a massive task. Trying to keep quality high, content on time and projects organized feels like a full-time job.

But if there’s one thing entrepreneurs understand well, it’s wearing several hats at once. When you decide to start outsourcing content, there are several things you need to keep in mind. If you go at it blindly, expecting it to be a breeze, you’re in for a rude awakening. 

Keep these five points in mind, and you’ll be well on your way to a smooth operation:

1. Who: Choose the right content developer.

Finding a trustworthy freelancer is a difficult task. In my experience, many content developers are incredibly flaky, and have even been known to disappear without a word in the middle of a project. After plenty of bad experiences, I’ve developed a system that allows me to evaluate the professional content creators from the wannabes. It goes something like this...

Review their websites: If you work in the online world, you need to have a solid website. I like to look for writers that are invested enough in their career to create a solid site with compelling, helpful information. Look for things such as writing samples, testimonials from happy clients, links to bylined work and links to active social profiles.

Look for a specialty in your industry: I like finding specialist writers. If you have a technical industry such as manufacturing, medicine or even marketing, a specialized writer can bring a level of experience and knowledge that a typical generalist can’t.

Read through samples and references: Ultimately, good writers will prove their worth through writing samples and client references. If they’ve got great writing chops and a portfolio to back it up, it’s worth taking a chance on them. Bonus points if they specialize in your industry!

2. What: Decide which types of content to outsource.

Everything we do online is driven by content, from connecting on social media to viral video marketing. Somewhere along the way, the written word gets involved. When it comes to outsourcing, there are several types of content that you can have a professional writer take care of, including:

• Weekly blog posts
• Social-media updates
• Guest blogging
• Email marketing
• Pay-per-click ads copywriting
• Web content
• Landing-page copy
• Script writing

As an entrepreneur, you need to decide which forms of content you need most, where you’re lacking in development and how a freelancer can plug in and assist you. 

3. When: Make a plan to start the process.

Outsourcing your content isn’t just about finding a writer. That’s only a small portion of the work that will need to be accomplished. It requires an entire operational command in order to execute. Otherwise, you’ll find yourself with too much managerial work and not enough preparation. As an entrepreneur, this creates a nightmare that ends up in more work than before you started outsourcing.

Decide who manages the writer(s): If you have a team, decide who will manage the outsourced team. A marketing manager or managing editor can often take on this role. But if you don’t have anyone in place like that, you can take on the responsibility yourself.

Develop a strategic workflow: You’ll need to develop a workflow of how to deliver, instruct and receive content from the writers. This includes outlining a creative brief template, deadlines for drafts, turnaround times and a system for delivering completed content.

4. Where: Look for content developers in the right place.

Once you have the initial logistics figured out, it’s time to start looking for the writer(s) that you want to help you with content development work. I’ve found that the two best places to find writers include referrals from others in my peer group and direct connections with writers through social media, events or other connections.

While job ads and content farms may get the job done for some, they generally lack the quality, experience and skill you’ll want from a content writer.

5. Why: Define the value outsourcing brings.

Don’t get me wrong, outsourcing can be a huge relief to the busy entrepreneur’s mind. But don’t mistake relief for a lack of work. In fact, when you’re just getting started, outsourcing can seem like just as much work as writing the content yourself. Keep with it. It’s a worthwhile investment if you’re willing to put in the initial work up front.

You need to be clear about the value of outsourcing so that you can see things through to the end. What do you get out of outsourcing your content development work? More time to work on sales? The ability to build more local business connections? Freedom to build social media, another branch of the business or any other new development?

Define the value first, and it’ll keep you from throwing in the towel too early.

10 Things To Learn From Narendra Modi

He came, he saw, and he conquered. Narendra Damodardas Modi is a name we all have heard of, and the Lok Sabha Elections were enough to prove the faith the country that happens to be the largest democracy of the world has put in this man.

1) Public Speaking Skills
The man has something in his voice that makes head turn. Even the people who don't happen to like him have agreed that they never miss a speech by the Indian Prime Minister. And we can't even say that this all is because of someone who writes his speeches, as the Independence Day saw him speaking without any written speeches, and this sure is going to be one of the most remembered speeches from an Indian PM.

2) Discipline
The 15^th Prime Minister of India has always led a disciplined life. Ever since he was made a balswayamsevak in RSS, which is known to instill discipline in all its members, he has followed a disciplined regimen.

3) Determination
Ever since he was a child who used to help his father and brother in their tea stalls, he was determined to make it big for himself. He has been associated with RSS since an early age, and that shows the determination that eight-year old possessed and this 64 year old possesses.

4) Detailing
This is something for people who plan a lot. Learning from a meticulous planner that Mr. Modi is, you should care to have a love for detailing. For reaching out to the Indian population, Modi travelled more than 3.5 lakhs Kms and did 400 rallies, even to places where no one usually goes. This micro detailing helps a lot in efficient planning, leading to better results.

5) Love For Technology
The man is tech-savvy and likes to keep himself up to date with all the developments in the field. He tweets and posts important details of his life and journey within minutes of it happening. Even as I write this article, I can see that his Facebook cover picture has already been updated. While we can learn from this, we should also know the clear difference there is between love for technology and being a slave for it.

6) Love For Fitness
Modi is a big yoga enthusiast and never forgets to do it, no matter how busy he is. Perhaps, this is the reason why he is this active at this age. This is also something that we can and should learn from him.

7) Enthusiasm
Even at the age of 64, the enthusiasm with which Narendra Modi lives his life is commendable. Be it playing drums on his recent visit to Japan or answering questions of various Indian students on Teacher's Day, he has never left his enthusiastic persona.

8) Patience
After foolproof planning, which leads to his confidence, he is not a man who can be impatient and jump on to conclusions or be restless for results. This patience and the tendency of keeping his calm and not behaving like a kid has proved to be very useful for him. It's a hard sight to see the man angry, overpowered by emotions, or losing his patience. This is something which if learned can prove to be a changing point in our lives.

9) Leadership Skills
If you remember well, he promised to work one hour more than his subordinates did in a public speech. This is not something an inefficient leader would be able to say. He is an efficient leader and leads by his words; learning this skill from him can be beneficial for our professional lives.

10) Humbleness
Even though he is the Prime Minister of world's largest democracy, his position has not gone to his head. He comes across as a very humble human being and this is evident by the way he addresses the nation and answers all the questions he is put across. Being humble can take you places and this is also something to learn from him.

05 Most Annoying Etiquette Violations in a Co-Working Space

A few months ago I joined a great coworking space called Workbar in Cambridge, Massachusetts. So far, I've savored the standing desks, the air conditioning, and the many kind people I've met. After years of working from home, it's been nothing short of splendid to have a dedicated work space. It's become much easier to "turn off" once I'm back home for the evening. 

But not a day goes by when I and my Workbar colleagues are not guilty of bending one house rule or another. The incidents are always minor. And because I've committed all of them myself, I'm not (too) critical of anyone bending these rules or codes of etiquette. Our jobs are fast-paced, ever-shifting; it's all too easy to get caught up in the urgency of your own breadwinning and forget you're sharing the space with dozens of others. 

Here are the five most annoying violations of coworking space etiquette I've noticed--and committed--so far:

1. Using your cell phone in non-talking areas. 

You'd go broke pretty fast running a co-working space without designated open areas for members to have long phone conversations. WorkBar in Cambridge has several of them. But what gets really annoying, really fast, is when colleagues speak on phones in designated non-phone areas.

Most members, if they're working in a non-phone area, will quickly walk to a phone area when they receive a call. But too often, this basic act of etiquette doesn't happen.

I know why it doesn't happen. Often, we receive calls we think will only last a minute; what's the point of relocating yourself for a minute, especially if the person calling is doing most of the talking? The problem is one minute turns into five. A monologue becomes a dialogue. Before you know it, you're disturbing the peace.

2. Booking conference rooms overaggressively. 

One of the perks of a coworking space is its supply of conference rooms. They're great for meetings. They're great for inviting guests. They're great for an hour of solitary work in a closed-door setting.

They're so great, that by 10am each morning, most of them are booked. That, however, is not the problem. 

The problem is members tend to book the rooms for "just in case" purposes. The result? Conference rooms appear booked in the online reservation system. But if you walk by those rooms at the hour of their supposed use, they are sometimes empty. That's because the aggressive bookers are guilty of another violation: Not canceling or rescheduling their use of the rooms, once they no longer need them. 

Why does this happen? Sometimes your guests are late. You're not sure whether to cancel, reschedule, or keep the room. Sometimes you're so caught up in what you're doing, you're less than prompt in relocating yourself--and your laptop and all of your supplies--to another room. Sometimes there are actual emergencies, and in your haste you forget to cancel the reservation. Regardless of why it happens, it creates headaches for any member who needs a conference room, but can't find one. 

3. Staying too long in conference rooms. 

Occasionally, even when you've successfully booked a conference room, the room is occupied when you arrive. The reason? The previous occupants haven't left in a timely fashion. Rather than considering who has the room next, they use every last second of their own reservation. 

Why does this happen? Usually because an important call is going really well. It can be difficult asserting a "hard" stop, interrupting a great conversation, packing your belongings, and leaving the room before you're forced to do so. 

4. Hogging the printer. 

This happens much less frequently than the first three on the list. But rest assured, it happens: All you want to do is print a one-page document. Sure enough, your print job is happening at the very moment another member is printing 1,000 sell sheets for a mailing. The result? It feels as if you're waiting 1,000 years for one measly page. 

Is the member with the large print job breaking a rule? No. Still, it's the sort of etiquette gaffe that makes you wish there were rule limiting print jobs of a certain length to non-peak times of the day. 

5. Clanging one's equipment. 

This is another tendency that's more of an etiquette violation than a bending of a rule. Here's what happens: A group of members are working like bees in one area of the space or another. In walks another member, getting ready to start his day.

Rather than recognizing that his colleagues are all peacefully getting things done, the just-arrived member starts to set up his equipment with, to paraphrase Bruce Springsteen, a very unpleasing clanging and banging. Laptops whacking, coffee mugs crashing, backpacks smacking.

Is it the end of the world? Of course not. It's just a failure on the part of one member to recognize how his colleagues would appreciate some discretion. The upshot? Some members set up as if they're the only ones working in the particular space. And that's a no-no.

07 Unexpected Ways to Get Around Mental Blocks

Mental blocks are every professional’s worst nightmare, yet they inevitably pop up when you work on a big project. You start out bright-eyed and bushy-tailed, making a ton of progress, and then for some reason, you hit a psychological wall and can’t move forward. Or else you lose the motivation to continue.

Perhaps you are just so fixated on making every detail perfect that you become paralyzed with the fear of failure. Or maybe you have so much left to do that the task ahead seems too daunting to handle.

These experiences are normal, so don't beat yourself up if you're stuck in a rut. Instead of trying to power through these complicated and often conflicting feelings, consider the following seven effective -- yet decidedly nonintuitive ways -- to surpass mental blocks.

1. Freewrite.

When you are feeling stuck, open up a new Word doc, and start writing about whatever is on your mind. This technique is called freewriting, and it is commonly utilized by prose writers to brainstorm new plot points and re-energize thought processes. Set aside 10 to 15 minutes and write down everything you think of, both related and unrelated to your work. It may start out as a page of gibberish, but soon ideas will start to flow.

Group similar thoughts and phrases together and leverage them to move forward. For more tips on how to freewrite, check out author and marketing consultant Mark Levy’s book, Accidental Genius: Using Writing to Generate Your Best Ideas, Insight, and Content.

2. Tackle smaller tasks first.

If you feel overwhelmed by how little you have progressed, take a break and work on a few mindless tasks that require little attention or thought and allow the mind to wander. Wash the dishes, organize your bookshelf, sift through unread emails or do laundry. By accomplishing small wins, you develop momentum and confidence to overcome your mental block.

Taking a step back may also help you gain clarity and perspective on the root cause of the block, allowing you to think about how you can move forward more efficiently in the future. 

3. Change your environment.

The cleanliness of your workspace affects your performance and mood at work. Having a neat, organized desk will improve your productivity and focus. On the other hand, a messy space can enhance creativity and help you gain fresh insights. Play around with your home or office environment and discover what works best for you.

If you find yourself still stuck, then switch up your scenery. Our minds associate places with feelings and activities, so if you are consistently frustrated or are procrastinating in your cramped studio apartment, you may discover that your mind is actively sabotaging your success while you're at home. Move to a coffee shop or even a beach towel in your backyard, and leave your mental block behind.

4. Learn something new.

Oftentimes when we encounter mental blocks, we ruminate over the same old ideas without thinking outside of the box. Expose yourself to new ways of thinking by learning something new. Read an article outside of your field, cook a meal that you have never attempted before or follow a how-to guide on juggling. Whatever you choose to engage in, line up new experiences to set your brain on course to think in novel ways. Get your mind to expand laterally, enhancing your creativity and problem-solving capabilities.

5. Revisit past experiences.

Remember a time when you felt happier, more creative or more inventive. Look at old pictures or listen to music that reminds you of better days and visualize yourself back in those environments. By returning back to a time and place where you felt less discouraged or unproductive, you can harness the positive energy you had back then to push yourself forward and accomplish even more.

6. See what your friends are up to.

Social media can be a great place for sourcing inspiration, but instead of actively looking for things that will spark your creativity, spend time researching what your acquaintances, family members and friends have been up to. This may give you new ideas on how to approach issues that you are stuck on, or may lead you to connect with folks able to help you move forward.

If you feel low about yourself, be careful not to compare yourself with how your friends present themselves online, as that is an ineffective way to connect with your network. What's more important is that it is harmful to your productivity.

7. Analyze other people’s ideas.

If you have thought backwards, forwards and all around your mental block to no avail, take to the Internet and research how other people have approached the issues you are trying to solve. Break down what makes their ideas work, gain inspiration from their theories, then slowly create your own ways of doing things or understanding different concepts.

06 Types of Buyers for Your Business

There is a reason it’s called exit planning -- the steps involved in determining how to ultimately leave the company you’ve built require careful thought, deliberate consideration, and plenty of time.

There are many directions you can take in the sale of a company, and considering who you’ll eventually find at the other side of the negotiation table is one of the most important things to understand as you get started down the path to an exit.

There are six common buyers you will likely encounter as you market a business for sale. As each have differing priorities and represent unique outcomes for the business, educating yourself on each buyer type is one of the first steps in beginning to plan the sale of your company.

1. Strategic buyers

One of the most likely buyers of a company is another company. The businesses that pursue growth through acquisition are often referred to as “strategic buyers.” This name is bestowed because the companies look for acquisition targets that are aligned with their core strategy, rather than other characteristics of a company, such as financial metrics.

One advantage of selling to a strategic buyer is that your business might command a higher sale price. Strategics will often pay a premium for the synergies that make your business a natural fit alongside their own.

Typically, however, the higher acquisition price can come at a cost. Synergies often accompany redundancies between the two companies that may be eliminated during the merger or acquisition. By selling to a strategic, you risk the jobs of employees in departments that overlap from company to company (such as accounting, human resources and marketing). In addition, the brand and identity you’ve worked to build for your business may be absorbed by that of a competitor.

As a result, selling to a corporation is ideal for business owners looking for a lucrative exit, where the future direction of the company and its employees is not the primary concern.

2. Private equity

Private equity firms are investment vehicles for institutional investors or high net-worth individuals. Limited partners (“LPs”) invest their money into funds that general partners (“GPs”) of the PE firm use to buy companies, typically within a specific industry. PE executives seek to maximize the growth of the portfolio companies over five to seven years before selling them and earning a return for themselves and their investors.

PE executives bring the financial resources and the corporate acumen to take your operations to the next level, and in many cases they will retain company owners and operators for on-the-ground expertise, making them a great option if you’d prefer to retain a piece of your equity stake. Selling to a PE firm is a great way to help your business realize its full potential.

Given the nature of their funds, however, private equity firms are usually looking to maximize the profitability of your business in the short term. This overarching thesis will inform a lot of the decisions they make for your business.

3. Family office

Family offices resemble private equity firms in some respects, but they differ in important ways. Rather than acting as investment vehicles for groups of high net-worth individuals and institutional investors, family offices invest the money of a single wealthy family, typically with a focus on the industry that netted that family its fortune. Family offices’ primary objective is ensuring that familial wealth spans multiple generations.

As a result, as compared to private equity firms, family offices tend to hold more conservative portfolios, invest on longer time horizons and take far less active roles in their portfolio companies.

However, family offices are scarce and difficult to reach. Since they invest with only cash (and not debt), the sale prices they offer are usually lower than their PE or strategic counterparts. Family offices are ideal for the business owner looking for industry guidance and/or direction.

4. Holding company

Holding companies (also known as shell companies) exist primarily for the sole purpose of owning other companies. Typically they do not sell any products or services of their own. Instead, they generate revenue from the dividends and earnings of the stock they own in other businesses. The most famous example is Warren Buffett’s Berkshire Hathaway.

Holding companies often seek a controlling stake in the companies under their umbrellas, which means that while selling part or all of your business to a holding company can be a relatively simple way to cash in equity. However, the additional support brings more cooks into the kitchen. Instead of running the business solo, you have to confer with new members of the board.

Keep in mind also that, while holding companies owned by others might make good buyers, there can be tax benefits in certain instances to forming your own holding company as part of your sale process.

5. Search fund

If the idea of managing a sale primarily through an individual is appealing, then exploring search funds can be a great option. Search funds consist typically of an individual, backed by a team of investors, looking to buy a business and take over the operations.

Often, that individual is a recent MBA graduate who aspires to operate a business. His or her team of investors is willing to buy the company for the individual to operate, confident that he or she will generate a return.

While this scenario involves a “green” buyer and any associated risks, it can nevertheless be a great way to ensure the long-term vitality of your business by infusing the C-suite with youth and energy. If you’d like to see your business continue on without you and you are willing to bet on ambition, then selling to a search fund is a great option.

6. Your employees

Selling to new parties -- such as the above options -- can welcome some measure of change on the direction and/or operations of your business once ownership is transferred. If you’re looking for an exit opportunity that allows your company to maintain its current course in your absence, look no further than your employees.

An employee-stock ownership plan (ESOP) will gradually transfer the company’s equity into retirement packages for your employees, while a leveraged ESOP provides the employees with debt to buy the owner out of a portion, if not all, of his or her equity up front. ESOPs provide employees with valuable measures of input and control, but they also add administrative hurdles that can slow future development.

07 Reasons Companies Should Never Hire an Entrepreneur

I started my first company at the age of 25 after every job I had frustrated me. When I made the Inc. 500 list at 35 years old, I joined the Entrepreneurs' Organization and was suddenly introduced to thousands of other entrepreneurs with whom I had something significant in common; we apparently made horrible employees.

It’s not that entrepreneurs can't be team players, don’t work hard, or are unable to focus. Quite the contrary, they are able to do all those things and more when required. They simply approach the concept of work differently than most successful employees. Here are the entrepreneurial habits that make entrepreneurs great at the top where they belong, and insufferable in the fold.

1. They say what they think (nearly always).

Entrepreneurs can't help themselves here. When they see it, they say it. Their first concern is to solve problems, and that starts with identification. They will be the first ones to call out when they see a project that is an ugly baby without consideration for the fact that someone in the room birthed that child and is very attached to it. This tendency helps them get things done fast when building their company, but can put off others who just want to get along.

2. They fill vacuums.

When something needs to be done and isn’t getting attention, entrepreneurs will simply pick up the ball and run with it. Never mind who owned the project — once the entrepreneur feels the pull of inaction he or she must rush in and fill the need. This is often disconcerting to other employees that have other priorities.

3. They push higher standards.

A company can only function as well as its weakest employees. Colleagues learn to manage around the weak links and find ways to get things done as best they can. But mediocrity is a painful dissonance to an entrepreneur. To an entrepreneur, everything must rise to its highest level which puts constant, unyielding pressure on people who may simply be trying to make a living.

4. They care about why.

For many employees, a good paycheck is more than sufficient reasoning for doing a good job. They choose to be employed because their true 'why' lies at home with their families and non-work pursuits. Entrepreneurs live to work rather than work to live. They need to see purpose beyond the daily grind and will question it at every point if the 'why' is not resolved in their brain.

5. They love to debate.

Although most companies can benefit from healthy conflict, getting employees to handle debate without personal emotion is a tall order. Entrepreneurs already have their passion focused on success and therefore are loathe to pull back when they sense incongruence in company activities. Overall, they see challenge and debate as a great opportunity to innovate and think out of the box.

6. They choose success over people.

A company needs great morale to perform at its best. Great employees learn how to ride the natural ups and downs of business cycles, maintaining stability. But entrepreneurs get overly motivated by their fear of failure. They will move heaven and earth to find the path to success, and are often tone deaf to the disruption their force creates among colleagues.

7. They believe internal politics are an utter waste of time.

Big corporations thrive on internal politics. It creates a natural selection process in the absence of a proactively defined culture. Stars can rise to the top with only their superior people skills, and mediocre politicians will culture out or find their own level. However, entrepreneurs are focused on productivity and success, which means they are oblivious to the necessary management of the morale of middle-achievers or the ego-feeding of superstars. They truly just want to go big or go home.

06 Ways to Build a Happy Startup Culture the Scrappy Way

Company culture can make or break an organization, and a common misconception is that it’s expensive to foster. Building culture should be viewed as a practice, not an expenditure.

As a startup founder, I’m no stranger to doing things the “scrappy” way and through a combination of the best parts of my previous corporate cultures with trial and error. I was first exposed to the benefits of a happy corporate culture during my time at PeopleSoft (which has been deservedly honored as one of the best places to work in America numerous times). Prior to this I had worked at two other large corporations and I simply assumed happy culture didn’t exist.

Founders are the ones who set the stage, as culture usually mirrors their beliefs. Because of that, it’s important to set the values and tone right at the beginning. Here are some of the tips and tricks that have worked for me along the way:

1. Be a compassionate leader and hands-on with everything.

As the founder, I’m also the one person in the company who has done everyone’s job. When you understand the challenges of each job, it’s easier to set reasonable, yet demanding, expectations and goals for everyone. When issues happen, you are able to walk in their shoes and try to solve the problem together. When things happen, and I’m not just talking about work, but life events too, be understanding, caring and flexible because that’s the first step to building a great culture. 

2. Bring new hires on as contractors first.

Almost everyone at Love With Food is hired as a contractor for three months before being brought on board full time. Three months is a good time frame to test a new hire’s job performance and also a good period to see if the new hire fits the company culture. Sometimes a person just doesn’t fit culturally and you have to make a tough decision to remove him or her. It only takes one wrong fit to unravel what was previously a great environment.

3. Traveling as a team? Share a room.

Traveling to conferences can be expensive, especially when three to five team members attend together. To save money, we usually have three to four people share a room, and the upside is team building because it enables them to bond outside of work.

When I was invited to speak at the Hawaiian Food and Wine Festival in 2012, I decided to bring the team with me. Everyone worked really hard to get the company up and running, and the team deserved a break. At that time, we were a team of six. The six of us shared a tiny two-bedroom condo for four days. We cooked and hiked together. It was a memorable experience for all of us.

4. Establish traditions.

Every April Fool’s Day, it’s Love With Food’s tradition to launch something ridiculous, such as LoveWithWeed.com. It’s great for publicity, but the main reason why it’s a tradition is because it’s great for team building. This is the one event during which everyone in the company will stop doing “real” work and go crazy with their ideas for four days.

Trust me, it’s worth halting real work for a bit because the hilarious ideas, laughter and humor is a great startup stress reliever!

The real sentiment here is tradition. Maybe it’s giving back at the holidays with everyone working in a soup kitchen or collecting gifts for underprivileged kids. Maybe it's an annual camping trip. Whatever it is, separate yourselves from the day-to-day minutiae and bond over other activities.

5. Do something together.

Plan to do something together every six to eight weeks. At Love With Food, we love to eat. One of our favorite things is a potluck. We’ll agree on a common ingredient or theme and everyone will whip up their favorite dish regardless of culinary skills. The outcome is usually more amusing than appetizing. We also love cards, beer and pizza night. Cards Against Humanity is our go-to game. If your team members are into sports, plan a trip to support your local sports franchise. Not only does this help bonding it gives your team something to look forward to.

6. Encourage laughter.

Whether we are in the office or working from home, everyone is always on HipChat. There’s no rules about what can be said in the chat room, as long as it’s legal and not obscene. Our conversations are definitely about work, but there’s no shortage of GIF wars either. Humor is such an important part of our culture -- any culture really -- so finding ways to encourage and promote laughter goes a long way toward a happy team.

There are many ways to start planting the seeds for building a great culture in a startup that won’t break the budget. I would love to hear how you are building your culture at your startup.